Tag: C23

MAPPING CLUSTERS IN CENTRAL AND EASTERN EUROPEAN REGIONS BASED ON FDI, REMITTANCES AND EMPLOYMENT – A SPATIAL STATISTICS GROUPING ANALYSIS

Cristina LINCARU

Dr, FeRSA, Department of Labour Market, National Scientific Research Institute for Labour and Social Protection, Bucharest, Romania

cristina.lincaru@yahoo.de

ORCID ID: 0000-0001-6596-1820

Speranța PÎRCIOG

Dr Scientific Director, National Scientific Research Institute for Labour and Social Protection, Bucharest, Romania

pirciog@incsmps.ro

ORCID ID: 0000-0003-0215-038X

Abstract

Central and Eastern European (CEE) and Visegrad countries transform and develop in different spatial patterns in a global economy. Host labour markets benefit directly from Foreign Direct Investment (FDI) inward flows through jobs creation or increased productivity. On the other side, the labour force rises its geographical mobility and benefits from jobs in FDI’s source countries, sending personal remittances. Global integration marks that the “receipts of remittances have become an important and stable source of funds that exceeds FDI” (indexmundi.com). Are the CEE /Visegrad countries similar concerning their spatiotemporal pattern of FDI inflows? These countries are identical in their development model, described by the coordinates of FDI, remittances and Employment? We applied for 35 European countries from 2013-to 2019 the Similarity check –Grouping Analysis ARC GIS-tool from the Spatially Constrained Multivariate Clustering (Spatial Statistics) family. The FDI inflow as input proves to be more inertial, according to the categories set by EuroVoc. Simultaneously, the FDI inward as output (employment growth or labour productivity growth) differentiate CEE countries next to labour/ human capital mobility as personnel remittances in more heterogeneous categories.

In conclusion, for CEE countries, capital mobility and labour & human capital mobility create different development patterns globally. Therefore, it is not enough to build policies to attract capital (FDI) and attract high human capital.

Keywords: CEE, inward FDI rates, personal remittances receipt as GDP rate, employment rate, Similarity check –Grouping Analysis, spatial statistics

JEL classification: C23, F21, F22, F24, J21, J24, O52

 pp. 67-104

read more

SPATIAL LINKAGE BETWEEN QUALITY OF INSTITUTION, NATURAL RESOURCES MANAGEMENT WITH GDP PER CAPITA IN D8 COUNTRIES (DURBIN MODEL IN PANEL DATA)

Farzaneh KHALILI

Assistant Professor of Economics, Islamic Azad University, Abhar Branch (Corresponding Author)

farzaneh_khalili2001@yahoo.com

Majid AFSHARIRAD

Associate Professor of Economics, Faculty of Economics, Kharazmi University, Tehran, Iran

 m.feshari@gmail.com

Abdolrahim HASHEMI DIZAJ

Assistant Professor of Management and Economics, Mohaghegh Ardabili University

a.hashemi@uma.ac.ir

Mehdi YAZDANSHENAS BAHOGHOGH

Ph.D Candidate of Economics, Islamic Azad University, Abhar Branch

nnn_yazdanshenas@yahoo.com

Abstract

Suitable economic growth has always been one of the priorities of any economic system. Meanwhile, economists have tried to achieve this goal by determining the factors affecting economic growth. At first, the main emphasis was on the physical capital and labor force, and the natural resources management. However, institutional factors, including natural resource management, emerged as a determinant of economic growth. In this regard, in this paper, the effect of institutions and management of natural economic resources on GDP per capita as a proxy for economic growth have been investigated by applying spatial regression models and Durbin model in the D8 countries during the period of 1996-2019. The empirical results of model estimation showed a positive and significant effect of natural resource management on economic growth of these countries. Moreover, the effect of physical capital, human capital, foreign investment accumulation and natural resources on economic growth is positive and significant. In addition, the effect of neighborhood and spillover impact of institutional quality on the economic growth has been confirmed in D8 countries.

Keywords: GDP Per Capita, Institutions Quality, Natural Resource Management, D8 Countries.

JEL classification: C23, O47, I25

 pp. 239-256

read more

INSURANCE-ECONOMIC GROWTH NEXUS – EVIDENCE FROM SELECTED WESTERN BALKAN’S COUNTRIES

Gentiana SHARKU

Prof. Assoc. Dr. Pedagogue in Finance Department, Faculty of Economy, University of Tirana

gentianasharku@feut.edu.al

Etleva BAJRAMI

Prof. Assoc. Dr. Pedagogue in Finance Department, Faculty of Economy, University of Tirana

etlevabajrami@feut.edu.al

Abstract

The insurance-growth nexus has attracted the attention of many academics and researchers, due to the huge potential the insurance industry constitutes for the economic development of developed and developing countries as well. The purpose of this paper is to investigate the impact the insurance industry has on economic growth of emerging countries, such as the Western Balkan’s countries. The impact is studied through two indicators of insurance industry: density and penetration, and for the total, life and non-life insurance market. The authors have applied a multiple regression analysis using annual data on insurance industry and GDP per capita from 2004 to 2019. This paper has contributed in the existing literature by exploring (i) whether insurance market has a positive or negative effect on economic growth of developing countries; (ii) which of the insurance indicators explains better the impact – insurance penetration or density indicator; and (iii) which of insurance activities has the largest effect on economic development: total, life or non-life insurance. The conclusions of this paper will serve to the public and private operators to evaluate the significance that each segment of insurance industry has on the economic development and to undertake the proper policies.

Keywords: Insurance penetration, insurance density, GDP per capita

JEL classification: G22, C23, O52

 pp. 53-68

read more