Tag: GDP Per Capita

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

HUMAN CAPITAL AND HIGHER EDUCATION AS DRIVERS OF ECONOMY IN ALBANIA

Etleva BAJRAMI

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

etlevabajrami@feut.edu.al

Brikena LEKA

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

brikenaleka@feut.edu.al

Abstract

Education is a strong pillar for the qualitative growth and improvement of human capital. Appropriate and necessary education of people will enable business employees to have the necessary knowledge for the activity. The growth of businesses will have its impact on the growth of the country’s economy. People are turning to higher education more and more as a way to enhance their personal wellbeing. Higher education is seen by people as the best way to enable the employment and higher salary in the future. For this reason the focus of this paper is education. The main objective is to understand the impact of higher education in economic growth. This paper analyzes the impact of education through several variables on economic growth in Albania, focusing more on the impact of higher education. The independent variables considered in this paper as representatives of education are mean years of schooling, enrollment in primary education, enrollment in secondary education, enrollment in higher education, while as a representative of growth is used dependent variable Gross Domestic Product (GDP) per capita. From the model we found the variables mean years of schooling and enrollment in higher education are significant and positively related with GDP per capita. The analysis is based on model building with secondary data using the method of least squares.

Keywords: human capital, higher education, school enrollment, GDP per capita

JEL classification: I23, O15, H52

read more