Investment and saving are critical for a country's economic development. The primary goal of this research was to determine whether there is a long-run or short-run causal relationship between saving, investment, and economic growth(GDP). We used Vector Error Correction Model and Augmented Dickey-Fulle and Phillips-Perron tests were used to verify the Unit root test. The Johansen Cointegration Test shows that economic growth, savings, and investment are reconciled and are in long-run equilibrium. Vector error correction tests show that there is a unidirectional causal relationship between saving and investment to economic growth in the short-term as well as long-term. There is a bidirectional causal relationship from total domestic savings to total domestic investment. In other words, savings and investment lead to economic growth. Therefore, for this purpose, policymakers need to formulate and implement policies that promote economic growth. Such policies lead to higher growth in savings and investment.
{"title":"The Causal Nexus between Economic Growth, Investment and Saving using Vector Error Correction Model in Ethiopia","authors":"Tesfaye Denano, Sintayehu Sibera","doi":"10.25115/eea.v40i3.7887","DOIUrl":"https://doi.org/10.25115/eea.v40i3.7887","url":null,"abstract":"Investment and saving are critical for a country's economic development. The primary goal of this research was to determine whether there is a long-run or short-run causal relationship between saving, investment, and economic growth(GDP). We used Vector Error Correction Model and Augmented Dickey-Fulle and Phillips-Perron tests were used to verify the Unit root test. The Johansen Cointegration Test shows that economic growth, savings, and investment are reconciled and are in long-run equilibrium. Vector error correction tests show that there is a unidirectional causal relationship between saving and investment to economic growth in the short-term as well as long-term. There is a bidirectional causal relationship from total domestic savings to total domestic investment. In other words, savings and investment lead to economic growth. Therefore, for this purpose, policymakers need to formulate and implement policies that promote economic growth. Such policies lead to higher growth in savings and investment.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127029677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
E. Uche, Chijioke Okoronkwo, S. I. Nwamiri, Urom Ogbonnia Chukwu
This study investigates the dynamic interference of economic policy uncertainties on sectoral performances in an emerging economy - Nigeria. This step becomes expedient considering the vulnerability of developing countries to economic shocks and the lack of convincing explanations in previous studies. The dynamic autoregressive distributed lag (DARDL) and Kernel Regularized Least Squares (KRLS) techniques, as well as annual time series for the period 1981 to 2019, were relied upon for empirical expositions. Accordingly, a long-run relationship is established among the performance of each sector and the relevant explanatory variables. Overall, the empirical details reveal time-varying negative and significant effects of uncertainties on the performances of all the sectors, especially, the agricultural and the services sectors. Also, it is established that trade openness is a significant growth inhibitor, suggesting that the vulnerability of Nigeria economy to the waves of uncertainties is heightened by the levels of trade openness. Meanwhile, productivity levels in all the sectors are positive and significant functions of the exchange rate and investments. On this note, policies to shield the local economy from uncertainties must be sensitive to sectoral peculiarities and time variations. However, such efforts will be futile if trade openness is not taken into considerations. Expectedly, these discoveries are equally beneficial to the government, the local and international investors.
{"title":"Sectoral Performances and Economic Policy Uncertainty in an Emerging Economy","authors":"E. Uche, Chijioke Okoronkwo, S. I. Nwamiri, Urom Ogbonnia Chukwu","doi":"10.25115/eea.v40i3.7853","DOIUrl":"https://doi.org/10.25115/eea.v40i3.7853","url":null,"abstract":"This study investigates the dynamic interference of economic policy uncertainties on sectoral performances in an emerging economy - Nigeria. This step becomes expedient considering the vulnerability of developing countries to economic shocks and the lack of convincing explanations in previous studies. The dynamic autoregressive distributed lag (DARDL) and Kernel Regularized Least Squares (KRLS) techniques, as well as annual time series for the period 1981 to 2019, were relied upon for empirical expositions. Accordingly, a long-run relationship is established among the performance of each sector and the relevant explanatory variables. Overall, the empirical details reveal time-varying negative and significant effects of uncertainties on the performances of all the sectors, especially, the agricultural and the services sectors. Also, it is established that trade openness is a significant growth inhibitor, suggesting that the vulnerability of Nigeria economy to the waves of uncertainties is heightened by the levels of trade openness. Meanwhile, productivity levels in all the sectors are positive and significant functions of the exchange rate and investments. On this note, policies to shield the local economy from uncertainties must be sensitive to sectoral peculiarities and time variations. However, such efforts will be futile if trade openness is not taken into considerations. Expectedly, these discoveries are equally beneficial to the government, the local and international investors.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126150252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Jakada, Abdullahi Daiyabu Marmara, Suraya Mahmood, Ali Umar Ahmad, Ali Sani Ibrahim
The goal of the study is to look at the link between financial instability, renewable energy, and environmental quality from 1970 to 2020. To check for stationarity and cointegration among the variables, the study uses second-generation econometric approaches of Lee and Strazicich as well as Bayer and Hanck combined cointegration tests, and then uses autoregressive distributed lag (ARDL) to investigate the long and short-run dynamics of the relationship, respectively. The study's long-term findings show that financial instability, oil prices, FDI, and GDP all have a significant positive effect on CO2 emissions, which degrade environmental quality, whereas increased in renewable energy consumption decreases CO2 emissions, thereby improving the quality of the environment. The findings of this study provide policymakers with new information to help them create comprehensive financial, economic, and energy supply strategies that will reduce the damaging effects of pollution on the environment.
{"title":"The Nexus between Financial Instability, Renewable Energy and Environmental Quality in the presence of Structural Breaks: Empirical Evidence from Nigeria","authors":"A. Jakada, Abdullahi Daiyabu Marmara, Suraya Mahmood, Ali Umar Ahmad, Ali Sani Ibrahim","doi":"10.25115/eea.v40i3.5763","DOIUrl":"https://doi.org/10.25115/eea.v40i3.5763","url":null,"abstract":"The goal of the study is to look at the link between financial instability, renewable energy, and environmental quality from 1970 to 2020. To check for stationarity and cointegration among the variables, the study uses second-generation econometric approaches of Lee and Strazicich as well as Bayer and Hanck combined cointegration tests, and then uses autoregressive distributed lag (ARDL) to investigate the long and short-run dynamics of the relationship, respectively. The study's long-term findings show that financial instability, oil prices, FDI, and GDP all have a significant positive effect on CO2 emissions, which degrade environmental quality, whereas increased in renewable energy consumption decreases CO2 emissions, thereby improving the quality of the environment. The findings of this study provide policymakers with new information to help them create comprehensive financial, economic, and energy supply strategies that will reduce the damaging effects of pollution on the environment.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125896562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Aplicando metodología de metaevaluación, en este artículo se investiga la existencia y categorización de trayectorias tecnológicas en 254 proyectos de investigación cooperativa pertenecientes a la cadena de valor agroalimentaria que han sido objeto de apoyo por un programa público en España, entre 2016 y 2020. Mediante análisis estadístico, clasificación cluster K-means y modelización econométrica, se han identificado cinco trayectorias tecnológicas, representativas de opciones de innovación en agricultura y agroindustria, vinculadas a la producción de materias primas, transformación industrial, empleo de servicios avanzados, gestión de subproductos, residuos y comercialización y gestión de regadíos. Las conclusiones de este trabajo afirman las posibilidades de la metaevaluación para investigar realidades complejas y, en el caso estudiado, la utilidad de definir trayectorias tecnológicas como elemento para diseñar nuevas políticas de incentivos públicos y, de forma particular, los que deban apoyar la innovación tecnológica en la agricultura y la transformación alimentaria en la perspectiva de cumplimiento de los objetivos de cambio climático 2050.
{"title":"Trayectorias tecnológicas en la cadena de valor agroalimentaria en España: una metaevaluación (2016-2020)","authors":"Jesús Manuel Plaza Llorente","doi":"10.25115/eea.v40i2.8294","DOIUrl":"https://doi.org/10.25115/eea.v40i2.8294","url":null,"abstract":"Aplicando metodología de metaevaluación, en este artículo se investiga la existencia y categorización de trayectorias tecnológicas en 254 proyectos de investigación cooperativa pertenecientes a la cadena de valor agroalimentaria que han sido objeto de apoyo por un programa público en España, entre 2016 y 2020. Mediante análisis estadístico, clasificación cluster K-means y modelización econométrica, se han identificado cinco trayectorias tecnológicas, representativas de opciones de innovación en agricultura y agroindustria, vinculadas a la producción de materias primas, transformación industrial, empleo de servicios avanzados, gestión de subproductos, residuos y comercialización y gestión de regadíos. Las conclusiones de este trabajo afirman las posibilidades de la metaevaluación para investigar realidades complejas y, en el caso estudiado, la utilidad de definir trayectorias tecnológicas como elemento para diseñar nuevas políticas de incentivos públicos y, de forma particular, los que deban apoyar la innovación tecnológica en la agricultura y la transformación alimentaria en la perspectiva de cumplimiento de los objetivos de cambio climático 2050.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132089220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Sánchez García, Eduardo Terán Yépez, Juán José Tapia León
This study defines the cognitive structure of financial networks research by looking at the terms scholars have used over the last 31 years of research. Applying co-word analysis over a sample of 680 records extracted from Scopus database, the findings reveal that that the literature on financial networks is made up of six thematic clusters, these are: Dynamics of financial networks, Complex banking networks, Risk and contagion in financial networks, Topology and structure of financial networks, Main methodologies and techniques and Post-crisis responses. In addition to laying the groundwork for understanding financial networks through a retrospective view, this study shows how bibliometrics (especially co-words analysis) can contribute to reducing conceptual ambiguity in emerging research fields, such as financial networks research, and open doors for future research.
{"title":"Financial networks a retrospective view to looking ahead","authors":"J. Sánchez García, Eduardo Terán Yépez, Juán José Tapia León","doi":"10.25115/eea.v40i2.8378","DOIUrl":"https://doi.org/10.25115/eea.v40i2.8378","url":null,"abstract":"This study defines the cognitive structure of financial networks research by looking at the terms scholars have used over the last 31 years of research. Applying co-word analysis over a sample of 680 records extracted from Scopus database, the findings reveal that that the literature on financial networks is made up of six thematic clusters, these are: Dynamics of financial networks, Complex banking networks, Risk and contagion in financial networks, Topology and structure of financial networks, Main methodologies and techniques and Post-crisis responses. In addition to laying the groundwork for understanding financial networks through a retrospective view, this study shows how bibliometrics (especially co-words analysis) can contribute to reducing conceptual ambiguity in emerging research fields, such as financial networks research, and open doors for future research.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116753094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. D. Sánchez Martínez, Juan Carlos Rodríguez Cohard, Vicente José Gallego Simón, Antonio Garrido Almonacid
Andalucía es la mayor productora de aceites de oliva del mundo, una situación derivada tanto de la expansión superficial como de la intensificación productiva, estimuladas por la internacionalización de la economía. Las plantaciones más recientes se caracterizan por su elevada densidad y completa mecanización, en consonancia con los resultados del cambio tecnológico aplicado a la agricultura industrial. En el presente trabajo nos preguntamos qué posibilidades de prosperar tienen estos cambios en áreas donde domina la tradición, como es la provincia de Jaén. Dado que nos encontramos en lo que consideramos primeros síntomas de transformaciones que pueden ser drásticas, en la metodología se ha privilegiado el trabajo de campo. En los resultados se han considerado distintos modelos posibles y su relación fundamental con la disponibilidad de agua. Entre las conclusiones se han destacado diferentes limitaciones y debilidades que este proceso expansivo puede suponer desde una perspectiva territorial.
{"title":"avance de las plantaciones olivareras súper intensivas en el valle del Guadalquivir: panorama y prospectiva","authors":"J. D. Sánchez Martínez, Juan Carlos Rodríguez Cohard, Vicente José Gallego Simón, Antonio Garrido Almonacid","doi":"10.25115/eea.v40i2.7300","DOIUrl":"https://doi.org/10.25115/eea.v40i2.7300","url":null,"abstract":"Andalucía es la mayor productora de aceites de oliva del mundo, una situación derivada tanto de la expansión superficial como de la intensificación productiva, estimuladas por la internacionalización de la economía. Las plantaciones más recientes se caracterizan por su elevada densidad y completa mecanización, en consonancia con los resultados del cambio tecnológico aplicado a la agricultura industrial. En el presente trabajo nos preguntamos qué posibilidades de prosperar tienen estos cambios en áreas donde domina la tradición, como es la provincia de Jaén. Dado que nos encontramos en lo que consideramos primeros síntomas de transformaciones que pueden ser drásticas, en la metodología se ha privilegiado el trabajo de campo. En los resultados se han considerado distintos modelos posibles y su relación fundamental con la disponibilidad de agua. Entre las conclusiones se han destacado diferentes limitaciones y debilidades que este proceso expansivo puede suponer desde una perspectiva territorial.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127476586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Dedeng Abdul Gani Amrullah, HM Sidik Priadan Iman, H. Setiawan, Zainudin Abu Bakar
The importance of organisation commitment and organisation citizenship to the effectiveness of the organisation is inarguable, especially in this current environment which moving towards industrial revolution 4.0 and globalisation. This study examines the effect of Servant Leadership Model on organizational commitment and organization citizenship behavior and lecturer’s performance. Respondents of this study were 225 permanent lecturers at private universities in Bandung, Indonesia. The research method uses in this study is quantitative approach. Data collected were analysed using structural equation modeling to address the research hypotheses. The results of the study prove that the servant leadership does not directly affect lecturer performance, but servant leadership has a significant effect on lecturer performance through organizational commitment or organization citizenship behavior. A better alternative is to improve lecturer performance by encouraging the application of servant leadership to increase organizational commitment which has an impact on lecturer performance.
{"title":"Evaluating Lecturer’s Organizational Commitment and Organization Citizenship Behavior and Performance Through Servant Leadership Model","authors":"Dedeng Abdul Gani Amrullah, HM Sidik Priadan Iman, H. Setiawan, Zainudin Abu Bakar","doi":"10.25115/eea.v40i2.6378","DOIUrl":"https://doi.org/10.25115/eea.v40i2.6378","url":null,"abstract":"The importance of organisation commitment and organisation citizenship to the effectiveness of the organisation is inarguable, especially in this current environment which moving towards industrial revolution 4.0 and globalisation. This study examines the effect of Servant Leadership Model on organizational commitment and organization citizenship behavior and lecturer’s performance. Respondents of this study were 225 permanent lecturers at private universities in Bandung, Indonesia. The research method uses in this study is quantitative approach. Data collected were analysed using structural equation modeling to address the research hypotheses. The results of the study prove that the servant leadership does not directly affect lecturer performance, but servant leadership has a significant effect on lecturer performance through organizational commitment or organization citizenship behavior. A better alternative is to improve lecturer performance by encouraging the application of servant leadership to increase organizational commitment which has an impact on lecturer performance.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128363619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tourism is widely regarded as one of the largest and fastest growing industries on the world. However, the outbreak of the COVID-19 pandemic has had a significant impact on international visitor arrivals and receipts for countries worldwide. Recognizing the need for tourism destinations to develop entirely new marketing strategies in the post-COVID-19 era, the establishment of travel brands for tourism destinations is critical to facilitating more effective marketing campaigns. As a result, social media marketing has been recognized as a viable marketing technique for promoting products, services, and information via social networking sites (SNSs). This is perhaps the first study to use the stimulus-organism-response (S-O-R) model to examine how SMMA affect tourism destination marketing and, subsequently, revisit intention for rural tourism destinations in Sarawak, Malaysia. A total of 239 valid questionnaires were used to assess the fitness of the measurement (inner) and structural (outer) models. Interestingly, the empirical findings indicate that SMMA (i.e., entertainment, interaction, trendiness, customization, and word-of-mouth) all contribute significantly to the success of rural tourism destination marketing efforts. Additionally, it was discovered that a well-developed tourism destination marketing strategy is critical for increasing tourists' intention to revisit, particularly to rural tourism destinations in Sarawak.
{"title":"Exploring the Impact of Social Media Marketing on Tourism Destination Marketing and Revisit Intention: The Extension of Stimulus-Organism-Response (S-O-R) Model","authors":"Chee-Hua Chin, Poh Ming Winnie Wong","doi":"10.25115/eea.v40i2.6848","DOIUrl":"https://doi.org/10.25115/eea.v40i2.6848","url":null,"abstract":"Tourism is widely regarded as one of the largest and fastest growing industries on the world. However, the outbreak of the COVID-19 pandemic has had a significant impact on international visitor arrivals and receipts for countries worldwide. Recognizing the need for tourism destinations to develop entirely new marketing strategies in the post-COVID-19 era, the establishment of travel brands for tourism destinations is critical to facilitating more effective marketing campaigns. As a result, social media marketing has been recognized as a viable marketing technique for promoting products, services, and information via social networking sites (SNSs). This is perhaps the first study to use the stimulus-organism-response (S-O-R) model to examine how SMMA affect tourism destination marketing and, subsequently, revisit intention for rural tourism destinations in Sarawak, Malaysia. A total of 239 valid questionnaires were used to assess the fitness of the measurement (inner) and structural (outer) models. Interestingly, the empirical findings indicate that SMMA (i.e., entertainment, interaction, trendiness, customization, and word-of-mouth) all contribute significantly to the success of rural tourism destination marketing efforts. Additionally, it was discovered that a well-developed tourism destination marketing strategy is critical for increasing tourists' intention to revisit, particularly to rural tourism destinations in Sarawak.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127488575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the relationships between unemployment, inflation, and economic growth in the UK. Quarterly data for the period 1990: Q1 to 2020: Q4. The ARDL bounds test model, Vector Error Correction Model (VECM), and Granger causality test are applied to examine the variables' short-run and long-run causal relationship. Unemployment rate (UR), inflation rate (INFR) and GDP growth rate (GDPGR) as a proxy of economic growth have been taken to study the relationships among unemployment, inflation, and economic growth. The short-run ARDL model in the study suggests that the entire variables (GDPGR, DUR and INFR) have a short-run causal relationship with each other. It follows the economic theories of Okun’s Law and the short-run Philips curve that there is an interrelationship among economic growth, unemployment, and inflation. The ARDL bounds test and VECM findings suggest strong evidence of cointegration between the three variables, which indicates a long-run equilibrium relationship. The pairwise Granger Causality test suggests a bi-directional relationship between economic growth and unemployment and a unidirectional relationship between inflation and economic growth (INFR→GDPGR) and between inflation and unemployment (INFR→DUR). In this case, monetary and fiscal policies may no longer effectively achieve policymakers’ economic growth and development goals.
{"title":"Asymmetric Link between Unemployment, Inflation and GDP growth rate in the United Kingdom Economy: An ARDL Bounds Approach","authors":"Dr Mohammed Ageli","doi":"10.25115/eea.v40i2.7841","DOIUrl":"https://doi.org/10.25115/eea.v40i2.7841","url":null,"abstract":"This paper investigates the relationships between unemployment, inflation, and economic growth in the UK. Quarterly data for the period 1990: Q1 to 2020: Q4. The ARDL bounds test model, Vector Error Correction Model (VECM), and Granger causality test are applied to examine the variables' short-run and long-run causal relationship. Unemployment rate (UR), inflation rate (INFR) and GDP growth rate (GDPGR) as a proxy of economic growth have been taken to study the relationships among unemployment, inflation, and economic growth. The short-run ARDL model in the study suggests that the entire variables (GDPGR, DUR and INFR) have a short-run causal relationship with each other. It follows the economic theories of Okun’s Law and the short-run Philips curve that there is an interrelationship among economic growth, unemployment, and inflation. The ARDL bounds test and VECM findings suggest strong evidence of cointegration between the three variables, which indicates a long-run equilibrium relationship. The pairwise Granger Causality test suggests a bi-directional relationship between economic growth and unemployment and a unidirectional relationship between inflation and economic growth (INFR→GDPGR) and between inflation and unemployment (INFR→DUR). In this case, monetary and fiscal policies may no longer effectively achieve policymakers’ economic growth and development goals.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115526508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Juan Marcelo Virdis, María Eugenia Elorza, Fernando Delbianco
INTRODUCTION: Financial protection from healthcare spending has become an important objective to be addressed by health systems all over the world. A common strategy used to assess financial protection from health care is to estimate the proportion of the population for which out-of-pocket expenditures made at the moment of receiving health services (OOP) might affect the consumption of other goods and services. To this end, two groups of indicators have been developed: catastrophic health expenditure (CHE) and impoverishing health expenditure (IHE). This work aims to investigate how CHE and IHE evolved in Argentina and how equitable was distributed between 1985 and 2018. METHODOLOGY: we estimated CHE and IHE measures, concentration indexes and concentration curves for all studied periods. In addition, we performed dominance analysis of concentration curves in order to assess changes in the distribution of CHE. RESULTS: In 2017/18, 9.57 % of Argentina’s population incurred in CHE using a 10 % of total expenditure (EXP) threshold, 5.81 % using a 15 % of EXP, 4.52 % using a 25 % of EXP net of food spending (ATP), and 1.87 % using a 40 % of ATP. All CHE headcount measures dropped considerably between 1996/97 and 2017/18. IHE measures resulted in nearly zero values. The distribution of CHE was found to be progressive in all periods applying different thresholds. Dominance analysis and CI show that 2004/05 was the most progressive period. However, dominance between curves was only found using low specificity criteria. DISCUSSION: We found evidence of higher financial protection in the most recent studied period and progressivity of CHE in all periods. A further question to be assessed is whether the lower CHE and progressivity in its distribution is a consequence of an effective public policy or difficulties to access health care.
{"title":"Financial protection from health care spending in Argentina: evolution and distribution (1985-2018)","authors":"Juan Marcelo Virdis, María Eugenia Elorza, Fernando Delbianco","doi":"10.25115/eea.v40i2.7147","DOIUrl":"https://doi.org/10.25115/eea.v40i2.7147","url":null,"abstract":"INTRODUCTION: Financial protection from healthcare spending has become an important objective to be addressed by health systems all over the world. A common strategy used to assess financial protection from health care is to estimate the proportion of the population for which out-of-pocket expenditures made at the moment of receiving health services (OOP) might affect the consumption of other goods and services. To this end, two groups of indicators have been developed: catastrophic health expenditure (CHE) and impoverishing health expenditure (IHE). This work aims to investigate how CHE and IHE evolved in Argentina and how equitable was distributed between 1985 and 2018.\u0000METHODOLOGY: we estimated CHE and IHE measures, concentration indexes and concentration curves for all studied periods. In addition, we performed dominance analysis of concentration curves in order to assess changes in the distribution of CHE. \u0000RESULTS: In 2017/18, 9.57 % of Argentina’s population incurred in CHE using a 10 % of total expenditure (EXP) threshold, 5.81 % using a 15 % of EXP, 4.52 % using a 25 % of EXP net of food spending (ATP), and 1.87 % using a 40 % of ATP. All CHE headcount measures dropped considerably between 1996/97 and 2017/18. IHE measures resulted in nearly zero values. The distribution of CHE was found to be progressive in all periods applying different thresholds. Dominance analysis and CI show that 2004/05 was the most progressive period. However, dominance between curves was only found using low specificity criteria.\u0000DISCUSSION: We found evidence of higher financial protection in the most recent studied period and progressivity of CHE in all periods. A further question to be assessed is whether the lower CHE and progressivity in its distribution is a consequence of an effective public policy or difficulties to access health care.","PeriodicalId":210068,"journal":{"name":"Studies of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132251973","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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