Періодичні видання СумДУ
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Item Advanced Technology Investment, Transfer, Export and Import: Determinants or Predictors of Economic Growth and Inflation Fluctuations?(Academic Research and Publishing UG, 2023) Позовна, Ірина Вікторівна; Pozovna, Iryna Viktorivna; Krawczyk, D.; Babenko, V.Інвестиції, наукові патенти, експорт та імпорт високотехнологічних товарів і послуг стимулюють технологічний розвиток країни, сприяють економічному зростанню, створенню робочих місць, формуванню кваліфікованої робочої сили, підтриманню соціального рівня життя населення. Водночас екосистема підтримки технологічних інновацій значною мірою залежить від макроекономічної стабільності в країні, інфляційних коливань тощо. Виходячи з цього, у статті розглядаються системні взаємозв’язки між чинниками технологічного розвитку (експортом та імпортом комп’ютерної, інформаційної, телекомунікаційної техніки). та інші високотехнологічні товари та послуги, інвестиції в передові дослідження і технології, обсяги передачі прав на нові технологічні розробки, а також загальний рівень охоплення населення інформаційними технологіями та інноваційність країни) і макроекономічний розвиток ( валовий внутрішній і національний продукт, рівень інфляції). Дослідження проводилось за допомогою методу аналізу головних компонент, канонічного аналізу, панельного регресійного моделювання за даними 11 країн з розвиненою економікою за 2011 та 2021 роки (статистичні бази даних Світового банку та ВОІВ). З 14 індикаторів технологічного розвитку методом аналізу головних компонент відібрано 8 найбільш релевантних; за допомогою канонічного аналізу встановлено, що 32,503% (у 2011 р.) та 37,557% (у 2021 р.) їх варіація зумовлена зміною досліджуваних макроекономічних показників. З іншого боку, зміна макроекономічних показників на 46,497% (у 2011 році) та 38,739% (у 2021 році) зумовлена варіацією показників інвестицій, трансферу, експорту та імпорту передових технологій. Таким чином, макроекономічна динаміка значно більше залежить від технологічного розвитку, а не навпаки. На основі проведеного панельного регресійного моделювання виявлено статистично значущу залежність індексу інфляції від частки населення, яке є користувачами Інтернету, та місця країни в Глобальному інноваційному індексі. ВВП на душу населення виявився залежним від частки експорту високотехнологічних товарів і послуг, частки експорту товарів у сфері інформаційно-комунікаційних технологій, частки населення, яке є користувачами Інтернету, місця країни в Глобальний індекс інновацій. Державні інвестиції в науково-технічний розвиток виявилися залежними від індексу інфляції, частки імпорту комп’ютерних, інформаційних та інших послуг, частки експорту товарів у сфері інформаційно-комунікаційних технологій, частки населення, що є користувачами Інтернету, і місце країни в Глобальному індексі інновацій.Item Internally generated revenue and economic growth in Rivers State, Nigeria(Academic Research and Publishing UG, 2023) Evans, N.; Ikechi, W.P.; Nwigbo, D.M.; Promise, E.This paper summarises the arguments and counterarguments within the scientific discussion on the issue of internally generated revenue and economic growth in Rivers, Nigeria. The main purpose of the research was to investigate the correlation between internally generated revenue and economic growth in Rivers State, Nigeria. Systematisation of the literary sources and approaches for solving the problem indicates that the Rivers State government in Nigeria faces numerous challenges, including insufficient tax information, limited cooperation from taxpayers, negative perceptions about tax revenue utilisation, the complexity of taxes and the tax system, inadequate capacity, and limited training for tax authorities. The immediate restoration of this matter is imperative, making the resolution of this scientific problem highly relevant. In this study, we investigate the internally generated revenue and economic growth in Rivers State, Nigeria, using both ex-post-facto and exploratory research approaches as methodological tools. The data utilised in this study were obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin and the Rivers State Inland Revenue Services (RSIRS) Annual Reports, covering the period from 2010 to 2021. The data were subjected to analysis using the Econometric Model of Linear Regression methods, utilising the SPSS 25 software. The analysis incorporates macroeconomic data pertaining to internally generated revenue and economic growth, specifically represented by the real gross domestic product, for the period spanning from 2010 to 2021. The paper presents the results of an empirical analysis, which revealed a significant correlation between internally generated revenue and economic growth in the state of Rivers. The research findings indicate a statistically significant correlation between internally generated revenue and the economic growth of Rivers State. The study thus proposed that the legislative branch of the state should prioritise the revision of tax laws to align with present economic conditions. Additionally, as the state focuses on exploring strategies to enhance its internally generated revenue (IGR), it should also devote attention to other facets of public finance management that directly affect its ability to not only generate revenue but also effectively allocate it for the betterment of the publicItem The Impact of Foreign Direct Investment from the Nordic Countries on the Structure of Lithuania’s Economy(Sumy State University, 2023) Tvaronaviciene, M.; Simelyte, A.; Stirblyte, G.Іноземні прямі інвестиції розглядаються як рушійна сила економічного зростання, сприяючи розвитку торгівлі та зменшенню безробіття. Країна, яка отримує іноземні прямі інвестиції, користується перевагами від передачі технологій. В результаті цього розвивається та змінюється економічна структура країни, що надає їй нові можливості та перспективи. Країни Балтії, включаючи Литву, залучають значні обсяги іноземних прямих інвестицій (ІПІ) з країн Північної Європи. Метою дослідження є оцінка впливу внутрішніх ІПІ з країн Північної Європи на економічну структуру Литви. Методичним інструментарієм проведеного дослідження стали методи описової статистики, кореляційно-регресійного аналізу та тести причинно-наслідкового зв'язку Грейнджера. Стаціонарність даних перевірялася за допомогою розширеного тесту Дікі-Фуллера для оцінки впливу на структурні зміни. Дані були структуровані згідно з економічними видами діяльності, що відповідають класифікації Номенклатури видів економічної діяльності в Європейському Союзі (NACE). Первинний сектор включає сільське господарство, лісівництво та видобування корисних копалин. До вторинного сектору входять виробництво, будівництво, водопостачання та електропостачання, а третинний охоплює послуги та торгівлю. Для дослідження обрано показники, такі як ВВП на душу населення та валова додана вартість (ВДВ). ВДВ використана для оцінки впливу кожної країни Північної Європи на різні галузі. Внесок галузей в економіку виражений у вигляді валової доданої вартості. Дослідження структуровано за трьома аналітичними напрямками. Перший спрямований на аналіз розподілу іноземних прямих інвестицій (ІПІ) в Литві за економічними секторами в контексті країн Північної Європи. Другий направлений на вивчення впливу цих інвестицій на економічний розвиток Литви. Остання частина присвячена оцінці причинно-наслідкового зв'язку між розподілом ІПІ за секторами економіки в країнах Північної Європи та економічними показниками цих секторів. Дослідження емпірично підтверджує та теоретично доводить, що внутрішні ІПІ можуть змінити економічну структуру господарства-одержувача. Крім того, ІПІ сприяють економічному розвитку країн-одержувачів, що означає розвиток третинного сектора. Результати дослідження можуть бути корисні для вдосконалення політики просування ІПІ в Литві з метою досягнення довгострокових результатів у розвитку третинного сектору, зокрема в галузі знань-інтенсивних технологій. Литва має потенціал використовувати ІПІ з країн Північної Європи; однак вона все ще не використовує дані можливості, оскільки деякі ІПІ не мають впливу на розширення третинного сектору або будь-якого сектору взагалі.Item How far does the central bank influence its economies? The example of Algeria(Sumy State University, 2023) Messaoudi, A.; Derbal, F.Z.; Hasnaoui, M.; Belhamidi, H.This study focused on Algeria and it looked at how education quality affected the knowledge economy. The theoretical anchor was the endogenous or new growth hypothesis. Secondary sources were used to get panel-structured data that spanned 48 Algerian provinces in 22 years (1999–2020). The equations were estimated using the fixed-random effect model and Hausman test, Also the Kao (Engle Ganger-based) cointegration test proved that the series did indeed have a long-run connection. The findings indicated that the knowledge economy was boosted by a rise in students’ Baccalaureate and Intermediate test success rates. This is due to the fact that a rise in exam success rates indicates that individuals at various educational levels are now receiving education of a higher caliber, and the economy depends on this caliber of education. The rise in students and professors is a sign that there are more knowledgeable people and specialized educators accessible to fuel the knowledge economy. As more educated citizens pass their exams and graduate from college, they are hired from the labor market into industries as significant production factors whose skills, values, and knowledge acquired through specialized training are expected to promote machine handling and coordination of other human and nonhuman production factors to fuel the knowledge economy. Teachers should be provided with ongoing professional development opportunities to help them provide instruction at all educational levels, according to a recommendation. This would improve their ability to educate and inspire students and help them do better on their intermediate and baccalaureate examsItem The effectiveness of employment in high-tech and science-intensive business areas as important indicator of socio-economic development: cross-country cluster analysis(Sumy State University, 2022) Койбічук, Віталія Василівна; Койбичук, Виталия Васильевна; Koibichuk, Vitaliia Vasylivna; Самойлікова, Анастасiя Вiкторiвна; Самойликова, Анастасия Викторовна; Samoilikova, Anastasiia Viktorivna; Хабенко, М.Є.; Habenko, M.Employment is one of key parameters of the economy, which characterizes its efficiency, possibility of using the labour potential and growth of population’s well-being. The level of employment is the most important indicator of the effectiveness of socio-economic policy of the state. A high level of employment in high-tech and science-intensive business areas is a driver of sustainable economic development of countries, increasing labour productivity, ensuring leadership in the market, and reducing the productions costs. Thus, the assessment of the effectiveness of population employment in high-tech and science-intensive service areas is significant today, as it is a comprehensive assessment of the country’s development, its current state in high technologies and further prospects for working with them. The research purpose consists in determining the maximum, most effective value of the population employment efficiency index in high-tech and science-intensive service spheres based on cross-country cluster analysis. The sample of countries all over the world were divided into 3 clusters, taking into account the rating value of the following indices: employment in high- and medium-high-tech production sectors and science-intensive business service spheres; enterprises that conducted training to develop / improve the ICT skills of their personnel; new registered enterprises. During the research there were statistical data analysis, cluster analysis using Ward’s method and software Statgraphics, optimization method using Frontier Analyst software. As a result, the efficiency of population employment in high-tech and science-intensive business service sectors of 36 countries in 2021 was determined, and accordingly reference countries with high population employment in this research sphere were identified. The potential reserves for increasing the targeted value of the population employment index in high-tech and science-intensive sectors were also characterized. The obtained results can be useful for business managers, they can adopt the experience of doing business in countries with more effective indicators, with the aim of developing employees, providing them with new training and knowledge that will facilitate doing business in the future.Item Inflation, Foreign Exchange, Interest Rate, Trade Balance, Payment Balance on Growth In The Covid-19 Pandemic(Sumy State University, 2022) Sinaga, A.P.A.Authors: Anton Atno Parluhutan Sinaga, ORCID: https://orcid.org/0000-0001-8008-3480 Indonesian Methodist University, Medan, Indonesia Pages: 52-59 Language: English DOI: https://doi.org/10.21272/sec.6(4).52-59.2022 Received: 19.10.2022 Accepted: 02.12.2022 Published: 31.12.2022 Download: Views: Downloads: 12 6 Abstract The purpose of this study is to determine the effect of inflation, foreign exchange rates, interest rates and trade balance on economic growth through an increase in the balance of payments. The research method used in this study is a quantitative descriptive research method using path analysis using AMOS 18. Variables of inflation, interest rates and the balance of trade affect economic growth through an increase in the balance of payments, where these three macroeconomic variables are capable of boosting economic growth, while the moderator variable for an increase in the balance of payments is the link and driver for the three variables such as inflation, interest rates and the trade balance did not contract against the increase in economic growth. The conclusion of this study is that partially inflation, interest rates and the trade balance have a significant effect on the economic growth variable and the moderator variable for increasing the balance of payments, while simultaneously the inflation variables, foreign exchange rates, interest rates and the trade balance has a significant effect on the variable of economic growth through the variable of increasing the balance of payments. Through the results of research that has been stated that the inflation variable, interest rates and trade balance affect economic growth through an increase in the balance of payments, where these three macroeconomic variables are things that are able to boost economic growth, while the moderator variable for an increase in the balance of payments is a link and a driving force for the three variables such as inflation, interest rates and the trade balance did not contract to the increase in economic growth.Item The impact of the innovation on the economy: an empirical analysis for Azerbaijan(Sumy State University, 2022) Zeynalli, L.; Huseynli, G.; Huseynli, M.Innovation is a basic and important element of economic success. Innovation is seen as a significant factor in boosting product competitiveness in both domestic and global markets, replacing outdated manufacturing equipment, and creating demand for highly skilled workers. It is commonly acknowledged that for the state to develop an effective scientific and technical policy, an information base that depicts the status, scale, and direction of innovation activities throughout the economy is required. Therefore, it is critical to consider both the decimal and descriptive aspects of the information. In short, creating the groundwork for an innovative economy is critical to achieving good outcomes in the country’s socioeconomic growth. The study’s major goal is to examine the economic effect of innovative development in Azerbaijan. The State Statistics Committee of the Republic of Azerbaijan provided the study with statistical information for the years 2000–2021. To begin, the study performed a literature review of various scholars on the issue, and the initiatives adopted by the state in different years to promote creative growth in Azerbaijan were analyzed. Furthermore, indicators such as GDP, the number of people employed in the economy, fixed assets, and innovation costs were utilized to estimate the impact of innovations on economic growth. When coefficients represented in individual variables in the generated model are compared, it is clear that the influence of innovation costs (0.877 or 87.7%) on the amount of activity in the economy is bigger than the effect of fixed assets (0.292 or 29.2%) and the number of employees (0.020 or 2%). At the 0.05 level of significance, the t-statistics and their probabilities associated with the coefficients show that the number of employees has a negative effect on GDP, whereas production funds and expenditure on innovations have statistically significant positive effects on GDP. The estimated F-Statistic and its probability imply that the cumulative result of innovation expenditure on GDP is statistically significant. The study claims a connection between innovation spending and GDP, and that the former has a major influence on the latter. The research also demonstrates that the model’s explanatory variables account for about 98.4% of the changes in the explained variable. This suggests that, in the framework of the model, spending on innovation accounted for about 98.4% of the variation in GDP over the study period. This study, therefore, contributes to the expanding amount of evidence indicating that expenditure on innovation is related to and has a significant impact on GDP. The results of the model also show that an increase in production funds of 1% generates a rise in GDP of 29.3%, a rise in employee numbers of 1% causes a boost in GDP of 2%, and an expansion in innovation expenditures of 1% causes a GDP rise of 87.7%. In this regard, it is thought appropriate to raise innovation costs, particularly during the digital economy transition.Item Exchange rate policy regimes, private investment behaviour and economic growth in Nigeria (1960 -2020)(Sumy State University, 2022) Popoola, M.A.; Ajayi, J.O.; Abiodun, T.S.To improve economic growth acceleration, the Nigerian government should continue to formulate and implement several policies including exchange rate policy regimes. Exchange rate policy regime of any government could be a fixed exchange rate regime when the price of a country’s currency in terms of another country’s currency is fixed to a value by the monetary authority; it could be a floating regime when the price of a country’s currency in terms of another country’s currency is left to be determined by the forces of demand and supply, while a managed-floating regime is undertaken when there is an element of both fixed and floating regimes. Following the Barro (1990) theoretical framework, this study attempted to assess the effects each exchange rate regime has on the economy through the mechanism of private investment spending. The researcher carefully selected macroeconomic variables that have been considered in the econometric models for empirical analysis of the research study in this dissertation through statistical estimation techniques as guided by Barro (1990) and international studies, specifically that of Sahoo et al., (2012), in this area of study. These variables include GDP as an indicator for economic growth, Private capital, private sector credit, real exchange rate, interest rate, government capital expenditure, trade openness, exchange rate regimes dummies, total employment, and spending on health and education. Specifically, the study set out to empirically quantify the impact of both fixed and floating regimes on private investment spending and in turn, on economic growth in Nigeria.Through this study, the key determinants of private investment spending and economic growth in Nigeria. To achieve the study’s objectives and address the respective research questions, preliminary examinations of the data were conducted through the use of visual and unit root tests and some of the variables were found to be stationary at levels (i.e., 𝐼(0)) while some are stationary in their first differences (i.e., 𝐼(1)). The study proceeded to estimate both private investment and economic growth models simultaneously using Two-Stage Least Squares (TSLS) method.Item The impact of stockmarket development on economic growth in Singapore. econometric study based on an autoregressive distribution lag (ARDL) model covering the period from 1990 to 2020.(Sumy State University, 2022) Bekhti, D.; Bakbak, L.I.; Bouchetara, M.The main objective of this paper is to discuss and examine the relationship between the development of stock market and economic growth and to show if the economic growth is positively influenced by stock market development in Singapore. Theoretically, some economists postulate a bidirectional relationship between financial development and economic growth, while others consider that growth drives finance, but that financial development is only a minor growth factor. We used an econometric study based on an autoregressive distribution lag (ARDL) model covering the period from 1990 to 2020 which is supported by the Asian financial crisis of 1997, obtained from various sources, in particular World Bank data and International Monetary Fund reports. Economic growth is expressed by GDP per capita, while stock market development is measured by market capitalization of domestic listed companies (% of GDP), shares traded total value (% of GDP) and stocks traded turnover ratio of domestic shares (%). The results show that the capitalization of domestic listed companies and the turnover ratio of domestic stocks have a positive and significant effect on gross domestic product per capita in the short and long run. However, shares traded total value hasa negative impact on gross domestic product per capita in short and long term. The contribution of our results suggests that stock market development promotes short and long-run growth in Singapore. Our findings can be of direct value to developed or emerging countries while they are of indirect value to less developed economies that may be committed to certain policy or regulatory decisions.Item Public Investment in Human Capital and Economic Growth in Algeria: An empirical study using ARDL approach(Sumy State University, 2022) Ramli, M.; Boutayeba, F.; Nezai, A.The main aim of this research paper is to examine empirically the link between public investment in human capital and economic growth in Algeria over the period 1990-2017. In fact, public authorities spend annually considerable funds to make both education and health available for all citizens as they are vital elements for a better life. This political action which is well understood from social perspective should have also some economic benefits especially in terms economic growth. Scholars strongly argued the crucial importance of investing in human capital to spur growth. In this context, the current paper tends to assess the impact of public spending devoted to human capital components on economic growth in Algeria. To do so, the study used annual time series data of government expenditures on these two sectors ranged from 1990 to 2017, and employs for estimation the autoregressive distributed lag (ARDL) approach. The main finding of this paper is that there is no cointegrating relationship between these two variables in the long run. This result is in line with many previous studies in Algeria as well as in other developing countries. This basically supports the idea that spending on education and health would not inevitably lead to growth. The lessons learnt from the experience of emerging economies denote that there are a series of preliminary conditions that should be set up to make the association between public investment in human capital and growth possible. Government spending alone cannot induce economic growth if corruption prevails and resources are inefficiently allocated. Also, it is the quality of health and education that matters. In Algeria, despite of the considerable funding of education and health sectors, the quality of service offered inside schools and hospitals is still poor. Thus, increasing numbers of doctors leave the country because they believe that work conditions are not suitable. Many Patients also prefer to join foreign hospitals because they believe that local medical service is somewhat unsatisfactory. Likewise, a great number of university students choose to join foreign universities to pursue their higher studies because they consider the quality of local universities is poor. Based on this evidence, policymakers are invited to take into consideration these conditions among others in order to strengthen the impact of public investment in human capital on economic growth in the future.
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