Relationship between tourism and economic growth

The main goal of this paper is to determine whether tourism activity stimulates economic growth. The study indicates the main variables affecting tourism activity and shows a feedback effect between income and tourism. Findings indicate that tourism not only supplies necessary funds to finance firms' activities, but also stimulates the local firms' productivity and creates new job opportunities that increase the country's welfare. Variables that have important effects on tourism activity, such as entrepreneurship and prices have also been considered.     

Factor allocation,economic growth and unbalanced regional development in China

On the basis of development accounting techniques and a factor misallocation framework, we use panel data of 30 Chinese provinces from 2000 to 2013 to assess how factor allocation affects economic growth and unbalanced regional development in China. In particular, we decompose economic growth into three parts, namely sector productivity (SP ), factor market efficiency (FME ) and factor endowment (FE ). We then conduct counterfactual analyses to investigate the short and long‐run roles of factor allocation in the income distribution across provinces. The results show that SP , FME and FE can explain 23%, 8.5% and 68.5% of economic growth, while labour, capital and energy reallocation account for aggregate productivity growth of about 47%, −4.8% and −0.1%. Furthermore, when the factors are efficiently allocated, transferring labour (capital, energy) from agriculture (service, industry) to the other sectors will increase the income per capita by 29.5% and 42.5% in the short and long term. Meanwhile, efficient factor allocation accounts for 32% and 29.7% of aggregate productivity and reduces the income variation across provinces by 25.5% and 23% in the short and long run, respectively.     

Financial development and growth: A clustering and causality analysis

This article examines the relationship between financial development and economic growth in a sample of 69 countries. A regime switching panel vector autoregression model is specified to detect directional changes in finance-growth causality and potential time variation of such causality patterns. In addition, a clustering analysis is performed to identify the presence of convergence clubs based on data properties. The findings show that most countries have switching between two states: one way causality from growth to financial development but not the other way round, and coexistence of bi-directional causality. Poorer countries are represented by a system with stable steady state while the clusters of advanced economies tend to exhibit multiple steady states. The clustering results map closely the degree of financial openness, and the cultural and geographical proximities of member countries.     

Learning by doing, trade in capital goods and growth

This paper aims at reconciling theoretical models of endogenous growth with the empirical evidence on trade and growth. In particular, we show that the conventional wisdom according to which trade is growth-impairing for a country with comparative advantage in goods with limited opportunities for learning fails to hold when the imported good is a capital good. The intuition is that the country gains access to cheaper capital goods, which raises investment, output per worker and learning by doing.     

Causality nexus of exports,FDI and economic growth of the ASEAN5 economies: evidence from panel data analysis

This paper analyzes the causal relationships between exports, FDI and economic growth among the ASEAN5 countries. We have used a three-stage procedure based on unit root, co-integration and causality tests applied to the panel data from 1981 to 2013. The results reveal that there is a bi-directional causal relationship between FDI and growth in the long run, while there is a unidirectional causal relationship from FDI to exports in the short run. Our results also confirm that the export-led growth (ELG) and FDI-led growth hypotheses hold true in the long and short run. To reinforce the FDI inflows, authorities should continue the progressive reduction of barriers, and increase the sophistication of quality exports to compete in the global market. This paper is the first of its kind to analyze the role of both FDI and exports in the ASEAN5 economies using panel analysis.     

FDI and economic growth: the role of local financial markets

In this paper, we examine the various links among foreign direct investment (FDI), financial markets, and economic growth. We explore whether countries with better financial systems can exploit FDI more efficiently. Empirical analysis, using cross-country data between 1975 and 1995, shows that FDI alone plays an ambiguous role in contributing to economic growth. However, countries with well-developed financial markets gain significantly from FDI. The results are robust to different measures of financial market development, the inclusion of other determinants of economic growth, and consideration of endogeneity.     

Producer services: growth and roles in long-term economic development

This paper deals with the varying roles of producer services in economic transformation during the last 30 years in Sweden, and analyses unique longitudinal data on eight service sectors. The theoretical background for the analysis is inspired by the technology shift thesis of economic historians, and we show that the renewal and transformation of producer services has taken place later than for the manufacturing sector. The importance of producer services in national growth increased enormously towards the end of the period, but we also note that this growth has been accompanied by a divergence in growth between service sectors.     

Economic growth,trade and capital flows: A causal analysis of post-liberalised South Africa

Development Finance and EconometricsThis paper investigates the causal relationships between trade, capital inflows and economic growth in post-liberalised South Africa over the period from 1995 to 2011. The results show that economic growth in South Africa is driven primarily by trade and fixed investment rather than by capital inflows. However, the relationship between economic growth and imports is bidirectional, and thus economic growth in South Africa is associated to a greater extent with the export-led growth hypothesis than the import-led growth hypothesis. In addition, the results find in favour of growth-led FDI rather than FDI-led growth, and that portfolio inflows rather than FDI are integrated into the country's trade-led growth dynamics.     

外商投资对江西省经济增长贡献研究

文章运用灰色关联模型,对江西省2001—2010年外商投资与经济增长的关系进行了实证研究。研究表明:外商投资带来的产业转移与江西省经济发展的水平具有密切的关系,产业转移不断推进有力的促进了江西省经济的发展。文章最后还提出了相关的政策建议。     

The interplay of international trade,economic growth and income convergence: a brief intellectual history of recent developments

The literature on the interplay of international trade, economic growth, and income convergence across economies has proliferated in the past few decades. The present essay reviews the theoretical advancements and empirical findings in this literature. The focus will be on recent developments with a few glances at the past. The essay also describes new findings and insights into the role of international trade in global income distribution. Ideas for further research are offered throughout the essay.     

转变外经贸增长方式 促进黑龙江省外经贸可持续发展

党的十六届五中全会通过的“十一五”计划中提出,要落实科学发展观,重视并大力转变经济增长方式,提高资源利用效率,以促进经济的可持续发展。因此,优化外经贸结构,转变外经贸增长方式,已成为促进黑龙江省外经贸可持续发展的必要条件。     

Entrepreneurial proclivity: its environmental conditions and growth consequences

To contribute to the entrepreneurial marketing (EM) literature, this study investigates how business unit growth relates to environmental risks and rewards (i.e., environmental dynamism and market growth rate) and three facets of entrepreneurial proclivity (i.e., innovativeness, risk-taking, and proactiveness). The authors find that perceived environmental dynamism has a direct and positive influence on strategic business units' innovativeness and proactiveness. Moreover, this study explores the interplay between the risk and reward facets of the market environment and reveals that firms are most likely to adopt EM strategies in a high-growth, highly dynamic business environment. The results also show that whereas the industry growth rate promotes a firm's market expansion, but not market sustention, the firm's innovativeness and proactiveness positively influence both market expansion and sustention.     

Good governance,innovation, economic growth and the stock market turnover rate

This study is primarily aimed at testing the theory of good governance in the group of eight developing Islamic countries. Using a panel data regression model, we examined the data to determine the relationship between political economy and economic development of eight countries, for the period 2005 to 2014. The results show a significant positive correlation between the rule of law, corruption control with economic growth and stock market turnover rate proxy. The examination through an artificial neural network resulted in a higher determination coefficient and less average standard error. This, in turn, reveals that the fitting power and efficiency of this method is higher than the panel data regression model. Furthermore, the findings of this study suggest that the application of good governance theory calls for more inquiry.     

基于服务质量测度的游客满意度影响因素分析——以宏村为例

游客的满意是旅游地提高竞争力、实现旅游地持续发展的主要影响因素。基于顾客满意度感知实绩模型,从旅游服务质量要素测度入手,以皖南世界文化遗产地宏村为例,分析游客满意度情况及其主要影响因素。多元统计逐步回归分析结果表明,游客总体满意度受多因素的共同影响,其中旅游景区、导游服务、购物及餐饮等因素与宏村游客总体满意度有很强的相关性和良好的因果解释关系,宏村游客总体满意度与忠诚度(推荐意愿与重游意愿)之间的相关关系显著。     

Investigating the causality links between environmental quality,foreign direct investment and economic growth in MENA countries

This paper investigates the causal relationship between environmental quality, Foreign Direct Investment and economic growth using simultaneous-equation panel data VAR model a panel of 17 MENA countries over the period 1990–2012. Our empirical results pointed out that there is a unidirectional causality running from both FDI stocks and CO₂ emissions to economic growth. They also indicate the existence of unidirectional causality running from economic growth to CO₂ emissions. However, the results support the occurrence of unidirectional causality from FDI stocks to CO₂ emissions. Our empirical result confirms the hypothesis of neutrality for the Environment-GDP link. There is bidirectional causality from ${\text{CO}}_2$emissions and economic growth, and a bidirectional causal relationship between FDI stocks and CO₂ emissions. For the global panel, we show that the existence of a unidirectional causality running from FDI stocks to economic growth; a bidirectional causality between economic growth and CO₂ emissions; as well as a bidirectional causality between FDI stocks and ${\text{CO}}_2$emissions.     

Expatriate-deployment levels and subsidiary growth: A temporal analysis

We investigated the relationship between expatriate-deployment levels and the growth of international subsidiaries over time. Latent-curve analysis revealed that higher subsidiary growth over the long term was achieved through both (a) a higher proportion of expatriates at subsidiary founding and (b) a slower reduction in the proportion of expatriates over time. These results suggest that the decision to reduce the proportion of expatriates due to cost considerations should be tempered with the potential long-term benefits of expatriates for improving subsidiary growth. Our results point to the importance of two factors that impact subsidiary changes over time: path dependence and dynamic adjustment costs.     

SME development,economic growth,and government intervention in a developing country: The Indonesian story

There is an ongoing debate in the literature on the development of small and medium enterprises (SMEs) in less developed countries (LDCs) on two issues: the survival of SMEs in the course of economic development and the importance of government promotion programs for SME development. This research paper aims to examine those issues empirically with Indonesian data. For this purpose, it develops and tests a set of hypotheses. It shows that both real gross domestic product per capita and government development expenditure (especially that used to finance SME development promotion programs) have positive impacts on SME growth. With this finding, the research argues that SMEs in LDCs can survive, and even grow in the long-run, for three main reasons: (a) they create a niche market for themselves, (b) they act as a “last resort” for the poor, and (c) they will grow along with large enterprises (LEs) because of their increasingly important production linkages with LEs in the form of subcontracting.

人力资本、人力资本结构与区域经济增长——基于分位数回归方法的经验研究

通过对1993—2006年中国29个省区的人力资本和人力资本结构等相关指标进行测算,运用分位数回归方法考察二者对区域经济增长的影响大小及变动情况。结果表明:(1)在中国,人力资本对经济增长具有显著的促进作用,且在条件分布的不同位置,这种促进作用存在明显差异。人力资本结构对经济增长存在负面影响,低分位点处的负面影响最大,高分位点处的负面影响相对较小。(2)在不同地区和分位点,人力资本和人力资本结构对经济增长的影响大小以及变动情况存在明显差异。     

绿色金融政策、公司治理与企业环境信息披露——以502家重污染行业上市公司为例

以502家重污染行业上市公司为研究对象,选取2006-2008年度上市公司披露的环境信息,构建环境信息披露指数,系统考察绿色金融政策下公司治理因素对企业环境信息披露水平的影响。研究结果发现,国有股权、第一大股东持股比例、审计委员会以及设立环保部等公司治理因素对环境信息披露水平的提高影响非常显著,而绿色金融政策则强化了这些因素的环保作用。