Question

10. Hacievliyagil, N., & Eksi, İ. H. (2019). Micro based study on bank credit and economic growth: Manufacturing sub-sectors analysis. South-East European Journal of Economics and Business, 14 (1), 72-91.

Hacievliyagil and Eksi examine the relationship between bank credits and performance and growth of manufacturing sub-sectors. Manufacturing industry is essential in the development of modern economy across the globe. The sub-sectors of the industry which include labor, land, capital and god and services contribute highly to the economic growth. However, for the success of manufacturing industry to lead to economic growth, integration of the subsectors and financial sectors is pivotal in the emerging markets. Bank credits provide effective means on industrial production index. Financial sector is the leading industry of economic growth and its interaction with other sub-sectors supports it. Substitution in one sector, either manufacturing or financial, does not support the economic growth hence the collaboration is essential for a robust economic growth. There are no biases that can be drawn from the study as it relates to different industries and if their relation can be effective for economic growth.

11. Zhu, W., & Wang, R. THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND AGRICULTURAL LAND-USE INTENSITY.

Zhu and Wang look into the link between economic growth and the intensity of agricultural land use. The research was conducted over a 27-year span in 86 nations. The findings back up the EKC hypothesis by showing that each of the agricultural land-use intensity metrics has an inverted-U-shaped relationship with economic growth. This means that in the early stages of economic expansion, agricultural land-use intensity rises progressively as per capita income rises, then begins to decline as per capita income rises after the turning point. The mediation analysis also demonstrates that total population, urban population proportion, and farm size are all moderators of the impacts of economic growth on agricultural land-use intensity. The study use a theoretical framework to produce the findings hence reliable source of material for the group’s project. Land as a natural resource according to the study, should not be overexploited for economic growth but used for gradual purpose of economy expansion. There are no biases from the study.

12. Mishal, Z. A. (2011). Financial development and economic growth: Evidence from Jordan economy.  The Journal of Business and Economic Studies,  17(2), 20

Mishal address whether the financial market development causes are caused by economic growth. The findings showed that the banking industry and economic growth, as well as the banking sector and the stock market, had a steady long-run link. In the long run, there is a bi-directional causation between banking sector expansion and economic growth, as well as a bi-directional causality between the banking sector and the stock market, according to the study. Because the causality goes from GDP growth to the stock market rather than the other way around, the stock market's performance did not reflect a development in Jordan's economy. The study’s results imply that stock mark policies should directed towards creation of transparent and guiding investors in taking a long-term view. The study bases on different literatures documented which are reliable in deducing the link between financial development and economic growth. There are biases indicated from the study.

13. Yang, M., & Kim, J. (2020). Revisiting the relation between renewable electricity and economic growth: A renewable–growth hypothesis.  Sustainability,  12(8), 312

Yang and Kim looked into the link between renewable energy and economic development. The authors are professors from Hanyang University's Department of Earth Resources and Environmental Engineering. According to the report, renewable energy is important for economic growth. As the public becomes more conscious of the climate crisis, movements such as the energy transition from fossil fuels to renewable energy are gaining traction. Changes in the power mix have an impact on the renewable electricity industry both directly and indirectly. The difference between conventional and renewable electricity sources is the weight of manufacturing-related parts. This is true of solar PV and wind power, which together account for the world's fastest-growing renewable energy installations. As a result of these qualities, increased renewable energy generation not only benefits the generation business but also leads to the development of allied industries and a rise in employment. The study does not have any biases as it hypothesis on the likelihood of economic growth following the implementation of renewable energy sources.

14. Snowdon, B., & Vane, H. R. (Eds.). (1997).  A macroeconomics reader. London and New York: Routledge.

A Macroeconomics Reader presents a collection of key macroeconomics literature. Each article was carefully picked to provide the reader with readily digestible, non-technical, and introspective essays that critically investigate significant areas and current debates in modern macroeconomics. The book is divided into six sections, each with its own introduction highlighting the significance of the subsequent portions. The book covers themes such as Keynes' General Theory, Keynesian economics, and the Keynesian revolution, as well as monetarism, rational expectations and new classical macroeconomics, and real business cycle approaches. New Keynesian economics is centered on economic growth. The book compiles the work of numerous authors to provide data on economic growth. The usefulness of the book is that all the articles are peer-reviewed and have gathered information from other literature and research which can be sued to decode the factors associated with economic growth. There are no biases that can be stated as each of the books content has different authors and subject divided in different sections.

15. Procházka, P., & Čermáková, K. (2015). Influence of selected institutional factors on the economic growth: Case open markets.  Procedia Economics and Finance,  30, 702-709.

Prochazka and Cermakova study focuses on the impacts of selected institutional factors on economic growth. Institutional economic began after 990 and offered a new approach to the problematic economic growth based on legal framework and religion factors. The factors contribute to uneven economic growth and their intensity variation of convergence and inequality exists among people and countries. Industrial revolution created the difference between rich and poor countries. For many economists, the IEF is a critical measure of prospective growth. The goal of the technique is to test a hypothesis about the favorable impact of Open Markets parameters on economic growth, particularly openness in international commerce and capital movement. Individual countries are assessed by the IEF based on ten criteria classified into four groups: rule of law, limited government regulatory efficiency, and open markets. The study did not confirm the theory of the positive correlation between trade openness and economic growth.

16. Tóth, G., & Sebestyén Szép, T. (2019). Spatial evolution of the energy and economic centers of gravity.  Resources,  8(2), 100.

Tóth and Szép analyzes how the increasing energy demand and economic performance contributes to the increased world energy consumption and growth of GDP. The Mediterranean Basin is the economic and energy center of gravity, although there is a steady and progressive movement to the east. It now reflects the north's supremacy, but it also indicates the northern hemisphere's declining prominence and the growing importance of developing countries. Only in Asia is there a high link between the point set derived via gravity calculation using GDP and total final energy consumption between 1990 and 2015. Globally, the link is moderately strong in the Americas, Australia, and Oceania, whereas it is significantly weaker in Africa and Europe. The year 2000 can be seen as a watershed moment in history (or as a structural change). The co-movement of the two analyzed indicators becomes obvious after that moment. This is becoming more apparent in the Americas, Asia, Australia, and around the world. The use of the gravity model and bi-dimensional regression analysis may be limited in identifying causation directions among the variables studied; more research into this area is needed.

17. Меркулова, Е. Ю. (2019). Влияние производительности труда на экономический рост.  Статистика и экономика, (2), 34-44.

Merkulova study focuses on examining the level of labor productivity and the most significant conditions for sustainable economic growth and improving the national economy competitiveness. According to economics, economic growth is a system of interaction and reproduction of the national economy's parts and factors of economic growth. The elements that govern the rate and scale of long-term increases in gross domestic product, as well as the possibilities of improving growth efficiency and quality, drive economic growth. Labor productivity, the size of the average salary, and the amount of investment are the primary elements affecting economic growth, according to the study. In turn, the cost of technical innovation and the index of cleverness are linked to worker productivity. The application of the idea of higher labor productivity growth over wage growth should take into account the requirement for income differentiation equity, which will encourage the development of labor resources' creative potential. The article does not show any biases.

18. Nugroho, H., Pasay, N. H. A., Damayanti, A., & Panennungi, M. A. (2019). Institutions as the Main Determinant in Economic Growth.  Etikonomi,  18(1), 13-28.

Nugroho et.al studies on human capital and technological progress which provide an incredible insight on how nations in the world differ from one another. Economic growth is higher in nations with higher institutional indices than in countries with lower institutional indices. GMM findings also show that human capital and multifactor productivity have a major impact on economic growth, implying that economic growth is influenced not just by capital and labor, but also by human capital and multifactor productivity. The government must redefine "excellent institutions" to include institutions that promote innovation and growth. In the context of innovation, this means that institutions must create avenues and environments for the development of new ideas. Aside from that, "growth-oriented,” implies that institutions must actively seek out new methods to better existing knowledge and technology. Boosting the budget, increasing the human capital engaged, or creating conditions that allow for continual research and development are all examples of ways to improve. Law and regulations can also help to foster the conditions that encourage research and development. The study is conceptually framed and shows no biases.

19. Can, H., & Korkmaz, Ö. (2019). The relationship between renewable energy consumption and economic growth: The case of Bulgaria.  International Journal of Energy Sector Management.

Can and Korkmaz look into the relationship between renewable energy and Bulagaria's economic growth. Given Bulgaria's reliance on fossil fuels and natural gas, renewable resources can make a significant contribution as alternatives. Positive economic progress is projected in the future if the cost of establishing renewable energy, as well as its accessibility and pricing, are competitive with fossil energy sources. To boost long-term connections between the variables, the country needs to increase investments in renewable energy resources, according to the research. In this context, it can be asserted that if the country's strategy and investment incentives are maintained and increased, renewable energy use and economic growth will increase. Harmonization regulations, reward premiums, and applications for expanding renewable energy investments can have a positive impact on the country's economy by boosting the nation's energy supply security. The investment boosts domestic output, creates jobs, and lowers import payments, making it a crucial support for economic growth. The study does not have any biases.

20. Sandonato, S., & Willebald, H. (2018). Natural capital, domestic product and proximate causes of economic growth: Uruguay in the long run, 1870–2014.  Sustainability,  10(3), 715.

Sandanato and Willebald combines a long-run perspective with the peripheral country in the world economy study to address the link between natural resources abundance and economic growth. The empirical strategy used for the study resulted in findings showing that natural capital reduces the significance on the economy while increasing diversification. However, the study finds out that there is no causal relationship between the abundance of natural resources and economic growth. Taking into account the three areas of economic growth: physical capital and terms of trade during the agro-exporter model, human capital and exports during the period of import substitution industrialization, and balance of trade after the 1960s, the proximate and intermediate induces appear to be important in explaining the evolution of natural capital hence a direct relationship. These causes cause natural capital to grow, but not the other way around, leading to believe that natural capital abundance is an autonomous process. It's not just a question of endowment when it comes to natural capital. The study does not show any biasness.

21. Cherif, R., Hasanov, F., & Wang, L. (2018).  Sharp instrument: A stab at identifying the causes of economic growth. International Monetary Fund.

The IMF paper examines the determinants of growth based on a variable that introduces “sharp” instruments and us immune to the “blunt instrument” problem. What is desired to understand the reasons of economic growth is not a comprehensive list of growth drivers, which is likely unfathomable, but rather a concise list of significant growth determinants. In practice, however, identifying essential growth variables is difficult. Data contains measurement mistakes; there are too many growth drivers to examine in comparison to the data available; and causality and correlation are difficult to identify. In finding the primary determinants of growth in a cross-country environment, the study addresses one of the key challenges in the empirical growth literature, namely, the causation vs. correlation or endogeneity dilemma. . For as many variables as needed, the approach provides a variable-specific, dynamic, and plausibly valid instrument. The most startling finding in our research is that the instruments passed all of the instrument strength tests. Mimetic forces could be at work if there are correlations between variables in nearby countries, where economic agents learn from one other in official and informal ways. the paper does not show any biases.

22. Deb, S. G., Mishra, S., & Banerjee, P. (2019). Stock market, banking sector and economic growth: A cross-country analysis over different economic cycles.  Studies in Economics and Finance.

Deb, Mishra and Banerjee examine causal relationship between financial sector development and economic development for 28 countries. One critical question that has yet to be addressed is whether the nature of the relationship between the financial sector and economic development is consistent through time or varies over economic growth cycles. In high-income countries, financial development is a crucial factor of economic growth, but in low-income ones, it is inconsequential. According to the "supply-leading theory," the major findings for industrialized nations imply a causal link between financial sector expansion and economic growth. This means that financial development draws more capital and raises national savings in developed countries, improving both capital formation and growth. Better technology innovation and reduced information costs in these countries are likely to play a role in more efficiently allocating savings, resulting in actual sector or economic growth. The study encourages policy makers to use the information in developing economic policies. The study is procedural and sues a conceptual framework and does not show biasness.

23. Zhang, K., Chen, C., Ding, J., & Zhang, Z. (2019). China’s hukou system and city economic growth: from the aspect of rural–urban migration.  China Agricultural Economic Review.

Zhang, Ding and Zhang evaluate the economic impacts of China’s hukou system and possible direction for future reform. The authors are professionals in the field of economic and resource management, public policy and economics and politics. The study ustilzied prefecture city-level data covering 241 cities from 2004-2016 and had three findings. First, labor mobility liberalization, which permits migrants to work in cities, benefits the city sector significantly. But only floating migrant workers, who have been one of the driving factors behind the city sector's economic growth through demographic aggregation and economies of scale, will be eligible for NPSs. Second, the effects of hukou control vary among cities of various sizes and administrative levels due to variances in political and economic competence in providing public services. Third, in order to cover the costs of giving EPSs to migrants under the current hukou–EPSs bound relationship, big and high-administrative-level cities only issue local hukou to high-skilled migrants. The authors suggested for administrative-level cities to compete and attract high-skilled migrants in the current change of hukou system reform. For economic growth the hukou system has to bind relationship with social welfare. The study does not show any bias.

24. Syapsan, S. (2019). The effect of service quality, innovation towards competitive advantages and sustainable economic growth: Marketing mix strategy as mediating variable.  Benchmarking: An International Journal,  26(4), 1336-1356.

Syapsan assesses the impact of service quality and innovation on competitive advantage and the long-term viability of a community's economy. The marketing mix strategy is used as a mediating variable in the study. Customer happiness is influenced by service quality, which means that adapting service quality to the needs of customers will result in customer happiness. To put it another way, the greater the degree of service quality, the happier the client. Through marketing mix methodologies, improved service quality to understand consumer demands may boost sustainable economic growth and competitive advantage, implying that improving service quality to grasp customer wants can boost sustainable economic growth and competitive advantage. This suggests that improving service quality in response to consumer wants will improve the marketing mix approach, resulting in a more sustainable local economy. The marketing mix strategy has a positive impact on the long-term survival of the local economy, suggesting that the more comprehensive the marketing mix strategy, the better the long-term economic growth and competitive advantage plan. The study does not show any biasness.

25. Yue, Q., & Chen, J. (2020, November). “Sustainable growth” or “growth with pollution”——research on economic growth patterns of industrial enterprise based on industry attributes. In  IOP Conference Series: Earth and Environmental Science (Vol. 571, No. 1, p. 012089). IOP Publishing.

Yue and Chen contented that in recent years, ecological environment protection while developing the economy is essential but creates controversy about the mode of industrial economic growth. With China's rapid economic growth, the Chinese government has increasingly focused on the conservation and administration of natural resources, the environment, and the ecological environment, issuing a series of environmental control policies. protection of the environment Industrial companies that have not been charged pollution fees have experienced higher sales growth rates, indicating that China has an external market environment that is conducive to "sustainable growth," with this effect being more pronounced in high-pollution industries; for organizations that have been charged pollution fees, the higher the amount of pollution fees charged, the higher the future sales growth rate, indicating that in some polluting industrial enterprises, the concept of "sustainable growth" is occurring. Both "sustainable growth" and "growth with pollution" coexist, indicating that there are some roadblocks and challenges in the transformation of industrial companies from "growth with pollution" to "sustainable growth." Depsite relying on China's economy only, the study does not show any biasness. 

26. Onafowora, O., & Owoye, O. (2019). Public debt, foreign direct investment and economic growth dynamics: Empirical evidence from the Caribbean.  International Journal of Emerging Markets.

Onafowora from the department of Economics Susquehanna University and Owoye From the Department of social sciences and Economics at Western Connecticut State University, examined the dynamic and long-run link among public debt, foreign direct investment and output growth in individual Caribbean countries for 40 years. The study used the Zivot and Andrews unit root to avoid the statistical shortcomings in extant studies. There's evidence of cointegration among the variables in all of the empirical data for all of the countries. The models from the study were found to be stable across the analysis period using the CUSUM and CUSUMSQ parameter constancy tests. FDI, domestic investment, trade openness, HC, and IQ all contribute to economic growth in the Caribbean, however higher external state debt and inflation rates stifle it. In Jamaica and Trinidad and Tobago, there was unidirectional causality from FDI to economic growth; in Barbados and the Dominican Republic, there was unidirectional causality from economic growth to FDI; while in the Bahamas, there was bidirectional causality between economic growth and FDI. In the Bahamas, Barbados, and the Dominican Republic, there is unidirectional causality from economic development to public debt, whereas in Jamaica and Trinidad and Tobago, there is bidirectional causality between these two variables. The study does not show any biasness.

References