The Experts below are selected from a list of 79335 Experts worldwide ranked by ideXlab platform
Muhammad Shahbaz - One of the best experts on this subject based on the ideXlab platform.
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discovering the relationship between natural resources energy consumption gross Capital Formation with economic growth can lower financial openness change the curse into blessing
Resources Policy, 2021Co-Authors: Humaira Yasmeen, Muhammad Shahbaz, Qingmei Tan, Hashim ZameerAbstract:Abstract The objective of this study is to discover the relationship between natural resources, gross Capital Formation, energy consumption and economic growth. In addition, the study also emphasizes on exploring whether financial openness can change the resource curse into a blessing. Using quarterly data from 1990Q1 to 2018Q4, the study used structural equation modeling technique for the empirical analysis. The conclusions of study indicated the negative relationship of natural resources with economic growth which confirms the existence of resource curse hypothesis. Although, renewable and non-renewable energy positively stimulate Pakistan's economic growth, but, the role of non-renewable energy toward economic growth is more strong compared with renewable energy. Financial openness also stimulates economic growth positively. However, the results for the influence of gross Capital Formation on economic growth were insignificant. The comprehensive assessment of the empirical examination of the role of financial openness in changing the resource curse into blessing indicated that financial openness doesn't have capability to change the resource curse into a blessing. The in depth analysis put-forward key guide lines for policy Formation to efficiently utilize the natural resources in the country.
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natural gas consumption and economic growth the role of foreign direct investment Capital Formation and trade openness in malaysia
Renewable & Sustainable Energy Reviews, 2015Co-Authors: Sakiru Adebola Solarin, Muhammad ShahbazAbstract:The objective of this paper is to reinvestigate the relationship between natural gas consumption and economic growth by including foreign direct investment, Capital and trade openness in Malaysia for the period of 1971–2012. The structural break unit root test is employed to investigate the stationary properties of the series. We have applied combined cointegration test to examine the relationship between the variables in the long run. For robustness sake, the ARDL bounds testing method is also employed to test for a possible long run relationship in the presence of structural breaks. We note the validity of cointegration between the variables. Natural gas consumption, foreign direct investment, Capital Formation and trade openness have positive influence on economic growth in Malaysia. The results support the presence of feedback hypothesis between natural gas consumption and economic growth, foreign direct investment and economic growth, and natural gas consumption and foreign direct investment. The policy implications of these results are provided.
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the role of natural gas consumption and trade in tunisia s output
Energy Policy, 2014Co-Authors: Sahbi Farhani, Muhammad Shahbaz, Mohamed El Hedi Arouri, Frederic TeulonAbstract:This paper examines the impact of natural gas consumption, real gross fixed Capital Formation and trade on the real GDP in the case of Tunisia over the period 1980–2010. We use an Autoregressive Distributed Lag (ARDL) bounds testing approach to test for cointegration between the variables. The Toda–Yamamoto approach is then used to test for causality. Our findings indicate the existence of a long-term relationship between the variables. Natural gas consumption, real gross fixed Capital Formation and trade add in economic growth. Natural gas consumption, real gross fixed Capital Formation and real trade cause real GDP in Tunisia. These findings open up new insights for policymakers to formulate a comprehensive energy policy to sustain economic growth in the long-term.
Werner Troesken - One of the best experts on this subject based on the ideXlab platform.
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Typhoid Fever, Water Quality, and Human Capital Formation
Journal of Economic History, 2016Co-Authors: Brian Beach, Joseph Ferrie, Martin Saavedra, Werner TroeskenAbstract:New water purification technologies led to large mortality declines by helping eliminate typhoid fever and other waterborne diseases. We examine how this affected human Capital Formation using early-life typhoid fatality rates to proxy for water quality. We merge city-level data to individuals linked between the 1900 and 1940 Censuses. Eliminating early-life exposure to typhoid fever increased later-life earnings by one percent and educational attainment by one month. Instrumenting for typhoid fever using typhoid rates from cities that lie upstream produces results nine times larger. The increase in earnings from eliminating typhoid fever more than offset the cost of elimination.
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typhoid fever water quality and human Capital Formation
Social Science Research Network, 2014Co-Authors: Brian Beach, Martin Saavedra, Werner Troesken, Joseph P FerrieAbstract:Investment in water purification technologies led to large mortality declines by helping eradicate typhoid fever and other waterborne diseases. This paper seeks to understand how these technologies affected human Capital Formation. We use typhoid fatality rates during early life as a proxy for water quality. To carry out the analysis, city-level data are merged with a unique dataset linking individuals between the 1900 and 1940 censuses. Parametric and semi-parametric estimates suggest that eradicating early-life exposure to typhoid fever would have increased earnings in later life by 1% and increased educational attainment by one month. Instrumenting for typhoid fever using the typhoid rates from cities that lie upstream produces similar results. A simple cost-benefit analysis indicates that the increase in earnings from eradicating typhoid fever was more than sufficient to offset the costs of eradication.Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at www.nber.org.
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typhoid fever water quality and human Capital Formation
National Bureau of Economic Research, 2014Co-Authors: Brian Beach, Martin Saavedra, Joseph P Ferrie, Werner TroeskenAbstract:Investment in water purification technologies led to large mortality declines by helping eradicate typhoid fever and other waterborne diseases. This paper seeks to understand how these technologies affected human Capital Formation. We use typhoid fatality rates during early life as a proxy for water quality. To carry out the analysis, city-level data are merged with a unique dataset linking individuals between the 1900 and 1940 censuses. Parametric and semi-parametric estimates suggest that eradicating early-life exposure to typhoid fever would have increased earnings in later life by 1% and increased educational attainment by one month. Instrumenting for typhoid fever using the typhoid rates from cities that lie upstream produces similar results. A simple cost-benefit analysis indicates that the increase in earnings from eradicating typhoid fever was more than sufficient to offset the costs of eradication.
Oded Galor - One of the best experts on this subject based on the ideXlab platform.
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linguistic traits and human Capital Formation
Social Science Research Network, 2020Co-Authors: Oded Galor, Omer Ozak, Assaf SaridAbstract:This research establishes the influence of linguistic traits on human behavior. Exploiting variations in the languages spoken by children of migrants with identical ancestral countries of origin, the analysis indicates that the presence of periphrastic future tense, and its association with long-term orientation has a significant positive impact on educational attainment, whereas the presence of sex-based grammatical gender, and its association with gender bias, has a significant adverse impact on female educational attainment.
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technology skill complementarity in early phases of industrialization
National Bureau of Economic Research, 2016Co-Authors: Raphael Franck, Oded GalorAbstract:The research explores the effect of industrialization on human Capital Formation. Exploiting exogenous regional variations in the adoption of steam engines across France, the study establishes that, in contrast to conventional wisdom that views early industrialization as a predominantly deskilling process, the industrial revolution was conducive for human Capital Formation, generating broad increases in literacy rates and educational attainment.
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the complementary between technology and human Capital in the early phase of industrialization
2015Co-Authors: Raphaa L Franck, Oded GalorAbstract:The research explores the effect of industrialization on human Capital Formation. Exploiting exogenous regional variations in the adoption of steam engines across France, the study establishes that in contrast to conventional wisdom that views early industrialization as a predominantly deskilling process, the industrial revolution was conducive for human Capital Formation, generating broad increases in literacy rates and education attainment.
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inequality human Capital Formation and the process of development
Research Papers in Economics, 2011Co-Authors: Oded GalorAbstract:Conventional wisdom about the relationship between income distribution and economic development has been subjected to dramatic transFormations in the past century. While classical economists advanced the hypothesis that inequality is beneficial for growth, the neoclassical paradigm dismissed the classical hypothesis and suggested that income distribution has limited role in the growth process. A metamorphosis in these perspectives has taken place in the past two decades. Theory and subsequent empirical evidence have demonstrated that income distribution has a significant impact on human Capital Formation and the development process. In early stages of industrialization, as physical Capital accumulation was a prime engine of growth, inequality enhanced the process of development by channeling resources towards individuals whose marginal propensity to save is higher. In later stages of development, however, as human Capital has become a main engine of growth, equality, in the presence of credit constraints, has stimulated human Capital Formation and growth. Moreover, unequal distribution of land has been a hurdle for economic development. While industrialists have had an incentive to support education policies that foster human Capital Formation, landowners, whose interests lay in the reduction of the mobility of their labor force, have favored policies that deprived the masses of education.
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inequality human Capital Formation and the process of development
Social Science Research Network, 2011Co-Authors: Oded GalorAbstract:Abstract Conventional wisdom about the relationship between income distribution and economic development has been subjected to dramatic transFormations in the past century. While Classical economists advanced the hypothesis that inequality is beneficial for economic development, the Neoclassical paradigm, which had subsequently dominated the field of macroeconomics, dismissed the Classical hypothesis and promoted the viewpoint that the study of income distribution has no importance for the understanding of macroeconomic activity and the growth process. A metamorphosis in these perspectives has taken place in the past two decades. Theory and subsequent empirical evidence have demonstrated that income distribution has a significant impact on the growth process. The modern approach has demonstrated that in the presence of credit market imperfections, income distribution has a long-lasting effect on investment in human Capital, entrepreneurial activity, aggregate income, and economic development. Moreover, in contrast to the Classical viewpoint, which underscored beneficial effects of inequality for the growth process, the modern perspective advanced the hypothesis that inequality may be detrimental for human Capital Formation and economic development. The replacement of physical Capital accumulation by human Capital accumulation as the prime engine of economic growth has changed the qualitative impact of inequality on the process of development. In early stages of industrialization, as physical Capital accumulation was a prime source of economic growth, inequality enhanced the process of development by channeling resources toward individuals whose marginal propensity to save is higher. However, in later stages of development, as human Capital has become the main engine of economic growth, a more equal distribution of income, in the presence of credit constraints, has stimulated investment in human Capital and economic growth. While the process of industrialization raised the importance of human Capital in the production process, reflecting its complementarity with physical Capital and technology, human Capital accumulation has not benefited all sectors of the economy. Inequality in the ownership of factors of production has generated an incentive for some better-endowed agents to block the implementation of institutional changes and policies that promote human Capital Formation, resulting in a suboptimal level of investment in human Capital from a growth perspective. The transition from an agricultural to an industrial economy changed the nature of the main economic conflict in society. Unlike the agrarian economy, which was characterized by a conflict of interests between the landed aristocracy and the masses, the process of industrialization has brought about an additional conflict between the entrenched landed elite and the emerging Capitalist elite. In light of a lower degree of complementarity between human Capital and the agricultural sector, education has increased the productivity of labor in industrial production more than in agricultural and primary good production, inducing rural-to-urban migration and a decline in the return to landowners. Thus, while industrialists have had a direct economic incentive to support education policies that would foster human Capital Formation, landowners, whose interests lay in the reduction of the mobility of their labor force, have favored policies that deprived the masses of education. The adverse effect of the implementation of public education on landowners' income from agricultural production has been magnified by the concentration of land ownership. As long as landowners affected the political process and thereby the implementation of growth-enhancing education policies, inequality in the distribution of land ownership has been a hurdle for human Capital accumulation, slowing the process of industrialization, and the transition to modern growth. Variation in the distribution of ownership over land and other natural resources across countries has contributed to disparity in human Capital Formation and the industrial composition of the economy, and thus to divergent development patterns across the globe. Moreover, in some societies, geographical conditions that led to income inequality brought about oppressive institutions designed to maintain the political power of the elite and to preserve the existing inequality.
Sakiru Adebola Solarin - One of the best experts on this subject based on the ideXlab platform.
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natural gas consumption and economic growth the role of foreign direct investment Capital Formation and trade openness in malaysia
Renewable & Sustainable Energy Reviews, 2015Co-Authors: Sakiru Adebola Solarin, Muhammad ShahbazAbstract:The objective of this paper is to reinvestigate the relationship between natural gas consumption and economic growth by including foreign direct investment, Capital and trade openness in Malaysia for the period of 1971–2012. The structural break unit root test is employed to investigate the stationary properties of the series. We have applied combined cointegration test to examine the relationship between the variables in the long run. For robustness sake, the ARDL bounds testing method is also employed to test for a possible long run relationship in the presence of structural breaks. We note the validity of cointegration between the variables. Natural gas consumption, foreign direct investment, Capital Formation and trade openness have positive influence on economic growth in Malaysia. The results support the presence of feedback hypothesis between natural gas consumption and economic growth, foreign direct investment and economic growth, and natural gas consumption and foreign direct investment. The policy implications of these results are provided.
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multivariate causality test of electricity consumption Capital Formation export urbanisation and economic growth for togo
Energy Studies Review, 2014Co-Authors: Sakiru Adebola SolarinAbstract:This study examines the electricity consumption and economic growth relationship in Togo for 1971- 2009 period. Controlling for Capital Formation, export and urbanisation, findings suggest the existence of long run connection in the variables. The study further detects long run positive unidirectional causality from electricity consumption, Capital Formation and export to economic growth, with long run negative unidirectional causality from urbanisation to economic growth. These indicate that expansive energy policies are necessary for sustainable increment in the national output of Togo. However, expansive policies must be complemented with improvement of Capital Formation; development of the export industry; and taming the pace of urbanisation in the country.
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electricity consumption and economic growth trivariate investigation in botswana with Capital Formation
International Journal of Energy Economics and Policy, 2011Co-Authors: Sakiru Adebola SolarinAbstract:This study investigates the relationship between electricity consumption and real gross domestic product in Botswana (the world’s largest producer of diamonds). The study includes Capital Formation in a trivariate system for the period covering 1980-2008. Zivot and Andrews (1992) unit roots test; bound test for cointegration, and Granger causality test are employed. Unidirectional causality is found from electricity consumption to real gross domestic product is in line with study of Altinay and Karagol (2005) among others. The long run estimate reinforce the Granger causality tests by indicating that electricity consumption is positively associated with real gross domestic product in the long run. Further findings suggest unidirectional causality from Capital Formation to real gross domestic product. The implication is that Botswana- being a highly energy dependent country- will have the performance of its Capital Formation on the economy partly determined by adequate electricity. Keywords : Economic growth; Electricity consumption; Bound test; Causality; Structural break; Botswana JEL Classifications : Q43; C32; O55
Jacob Weisdorf - One of the best experts on this subject based on the ideXlab platform.
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Human Capital Formation During the First Industrial Revolution: Evidence from the use of Steam Engines
Journal of the European Economic Association, 2019Co-Authors: Alexandra M. De Pleijt, Alessandro Nuvolari, Jacob WeisdorfAbstract:This paper explores the effect of technological change on human Capital Formation during the early phases of England’s Industrial Revolution. Following the methodology used in Franck and Galor (2016), we consider the adoption of steam engines as an indicator of technical change, examining the correlation between industrialisation and human Capital by performing cross-sectional regression analyses using county-level variation in the number of steam engines installed in England by 1800. Using exogenous variation in carboniferous rock strata as an instrument for the regional distribution of steam engines, we find that technological change as captured by steam technology significantly improved the average working skills of the labour force. In particular, places with more steam engines had lower shares of unskilled workers and higher shares of highly-skilled mechanical workmen deemed important by Mokyr (2005) in the Industrial Revolution. Technological change was, however, not conducive to elementary education. Literacy rates and school enrollment rates were not systematically different in places with more steam engines. This diverse response to new technology highlights the ambiguous effects of early industrialisation on the Formation of human Capital.
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human Capital Formation during the first industrial revolution evidence from the use of steam engines
Social Science Research Network, 2018Co-Authors: Alexandra M. De Pleijt, Alessandro Nuvolari, Jacob WeisdorfAbstract:We examine the effect of technical change on human Capital Formation during England's Industrial Revolution. Using the number of steam engines installed by 1800 as a synthetic indicator of technological change, and occupational statistics to measure working skills (using HISCLASS), we establish a positive correlation between the use of steam engines and the share of skilled workers at the county level. We use exogenous variation in carboniferous rock strata (containing coal to fuel the engines) to show that the effect was causal. While technological change stimulated the Formation of working skills, it had an overall negative effect on the Formation of primary education, captured by literacy and school enrolment rates. It also led to higher gender inequality in literacy.
