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development</title> <meta name="description" content="Search results for: growth and development"> <meta name="keywords" content="growth and development"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="growth and development"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 20466</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: growth and development</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20466</span> Financial Development and Economic Growth of Sub-Saharan Africa Using System GMM Analysis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Temesgen%20Yaekob%20Ergano">Temesgen Yaekob Ergano</a>, <a href="https://publications.waset.org/abstracts/search?q=Sure%20Pulla%20Rao"> Sure Pulla Rao</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20development" title="financial development">financial development</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=Sub-Saharan%20Africa" title=" Sub-Saharan Africa"> Sub-Saharan Africa</a>, <a href="https://publications.waset.org/abstracts/search?q=system%20GMM%20analysis" title=" system GMM analysis"> system GMM analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20indicators." title=" financial indicators."> financial indicators.</a> </p> <a href="https://publications.waset.org/abstracts/185380/financial-development-and-economic-growth-of-sub-saharan-africa-using-system-gmm-analysis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/185380.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">53</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20465</span> Banking Sector Development and Economic Growth: Evidence from the State of Qatar</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fekri%20Shawtari">Fekri Shawtari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The banking sector plays a very crucial role in the economic development of the country. As a financial intermediary, it has assigned a great role in the economic growth and stability. This paper aims to examine the empirically the relationship between banking industry and economic growth in state of Qatar. We adopt the VAR vector error correction model (VECM) along with Granger causality to address the issue over the long-run and short-run between the banking sector and economic growth. It is expected that the results will give policy directions to the policymakers to make strategies that are conducive toward boosting development to achieve the targeted economic growth in current situation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title="economic growth">economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=banking%20sector" title=" banking sector"> banking sector</a>, <a href="https://publications.waset.org/abstracts/search?q=Qatar" title=" Qatar"> Qatar</a>, <a href="https://publications.waset.org/abstracts/search?q=vector%20error%20correction%20model" title=" vector error correction model"> vector error correction model</a>, <a href="https://publications.waset.org/abstracts/search?q=VECM" title=" VECM"> VECM</a> </p> <a href="https://publications.waset.org/abstracts/101051/banking-sector-development-and-economic-growth-evidence-from-the-state-of-qatar" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/101051.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">170</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20464</span> Impact of Foreign Direct Investment to the Economic Growth of Rwanda</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Munezero%20Vanessa">Munezero Vanessa</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A country is considered developed when its socio-economic and development situation is stable. Foreign direct investment is thus considered to be one of the solutions to this stability especially when it is used in development sectors. The present study was meant to understand whether the foreign direct investment stimulates economic growth performance in Rwanda. The foreign direct investments and economic growth (GDP) has been the subject of much debate among economic development researchers, aid donors as well as recipients in general and Rwanda in particular. In spite of this, there are only few empirical studies that investigate the contributions of foreign direct investments to economic growth in Rwanda. This study explores the relationship between foreign direct investments and economic growth in Rwanda using data that spans from 2000 to 2019 and establishing through causal study if changes in one variable cause changes in the other. The results show that foreign direct investments significantly contribute to the current level of economic growth. The findings imply that Rwanda could enhance its economic growth by effectively and strategically strengthening foreign direct investment plans. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=foreign%20direct%20investment%20%28FDI%29" title="foreign direct investment (FDI)">foreign direct investment (FDI)</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=GDP%20gross%20domestic%20product%20%28GDP%29" title=" GDP gross domestic product (GDP)"> GDP gross domestic product (GDP)</a>, <a href="https://publications.waset.org/abstracts/search?q=inflation" title=" inflation"> inflation</a>, <a href="https://publications.waset.org/abstracts/search?q=exchange%20rate" title=" exchange rate"> exchange rate</a> </p> <a href="https://publications.waset.org/abstracts/188725/impact-of-foreign-direct-investment-to-the-economic-growth-of-rwanda" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/188725.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">31</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20463</span> Entrepreneurship and the Growth of Small and Medium Enterprises in the Kwara state, Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Salman%20Abdulrasaq">Salman Abdulrasaq</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Small and Medium Enterprises (SMEs) has been considered as indices for economic development in a country economy. The development of entrepreneurship skills is therefore necessary. This study, seeks to examine the impact of Entrepreneurship on the Growth of Small Businesses Kwara State, Nigeria. The data used were primarily obtained from the questionnaire administered to the randomly selected areas in the state. Regression statistical tool was employed with aid of SPSS to test the validity of the hypothesis formulated in the study. The study therefore concludes that; the qualities of entrepreneur have impact the growth of Small Businesses s in the selected areas of the state. In view of this, the study recommends that; entrepreneurship development would serve as a tool for the growth of small business enterprises. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=entrepreneurship" title="entrepreneurship">entrepreneurship</a>, <a href="https://publications.waset.org/abstracts/search?q=growth" title=" growth"> growth</a>, <a href="https://publications.waset.org/abstracts/search?q=development" title=" development"> development</a>, <a href="https://publications.waset.org/abstracts/search?q=Nigeria" title=" Nigeria"> Nigeria</a> </p> <a href="https://publications.waset.org/abstracts/24521/entrepreneurship-and-the-growth-of-small-and-medium-enterprises-in-the-kwara-state-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/24521.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">407</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20462</span> Characterization of Femur Development in Mice: A Computational Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Moncayo%20Donoso%20Miguelangel">Moncayo Donoso Miguelangel</a>, <a href="https://publications.waset.org/abstracts/search?q=Guevara%20Morales%20Johana"> Guevara Morales Johana</a>, <a href="https://publications.waset.org/abstracts/search?q=Kalenia%20Flores%20Kalenia"> Kalenia Flores Kalenia</a>, <a href="https://publications.waset.org/abstracts/search?q=Barrera%20Avellaneda%20Luis%20Alejandro"> Barrera Avellaneda Luis Alejandro</a>, <a href="https://publications.waset.org/abstracts/search?q=Garzon%20Alvarado%20Diego%20Alexander"> Garzon Alvarado Diego Alexander</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In mammals, long bones are formed by ossification of a cartilage mold during early embryonic development, forming structures called secondary ossification centers (SOCs), a primary ossification center (POC) and growth plates. This last structure is responsible for long bone growth. During the femur growth, the morphology of the growth plate and the SOCs may vary during different developmental stages. So far there are no detailed morphological studies of the development process from embryonic to adult stages. In this work, we carried out a morphological characterization of femur development from embryonic period to adulthood in mice. 15, 17 and 19 days old embryos and 1, 7, 14, 35, 46 and 52 days old mice were used. Samples were analyzed by a computational approach, using 3D images obtained by micro-CT imaging. Results obtained in this study showed that femur, its growth plates and SOCs undergo morphological changes during different stages of development, including changes in shape, position and thickness. These variations may be related with a response to mechanical loads imposed for muscle development surrounding the femur and a high activity during early stages necessary to support the high growth rates during first weeks and years of development. This study is important to improve our knowledge about the ossification patterns on every stage of bone development and characterize the morphological changes of important structures in bone growth like SOCs and growth plates. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=development" title="development">development</a>, <a href="https://publications.waset.org/abstracts/search?q=femur" title=" femur"> femur</a>, <a href="https://publications.waset.org/abstracts/search?q=growth%20plate" title=" growth plate"> growth plate</a>, <a href="https://publications.waset.org/abstracts/search?q=mice" title=" mice"> mice</a> </p> <a href="https://publications.waset.org/abstracts/51237/characterization-of-femur-development-in-mice-a-computational-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/51237.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">345</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20461</span> Energy Justice and Economic Growth</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Marinko%20Skare">Marinko Skare</a>, <a href="https://publications.waset.org/abstracts/search?q=Malgorzata%20Porada%20Rochon"> Malgorzata Porada Rochon</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper study the link between energy justice and economic growth. The link between energy justice and growth has not been extensively studied. Here we study the impact and importance of energy justice, as a part of the energy transition process, on economic growth. Our study shows energy justice growth is an important determinant of economic growth and development that should be addressed at the industry and economic levels. We use panel data modeling and causality testing to research the empirical link between energy justice and economic growth. Industry and economy-level policies designed to support energy justice initiatives are beneficial to economic growth. Energy justice is a necessary condition for green growth and sustainability targets. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=energy%20justice" title="energy justice">energy justice</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data" title=" panel data"> panel data</a>, <a href="https://publications.waset.org/abstracts/search?q=energy%20transition" title=" energy transition"> energy transition</a> </p> <a href="https://publications.waset.org/abstracts/158297/energy-justice-and-economic-growth" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/158297.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">113</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20460</span> Effects of Financial Development on Economic Growth in South Asia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Anupam%20Das">Anupam Das</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Although financial liberalization has been one of the most important policy prescriptions of international organizations like the World Bank and the IMF, the effect of financial liberalization on economic growth in developing countries is far from unanimous. Since the '80s, South Asian countries made a significant development in liberalization the financial sector. However, due to unavailability of a sufficient number of time series observations, the relationship between economic growth and financial development has not been investigated adequately. We aim to fill this gap by examining time series data of five developing countries from the South Asian region: Bangladesh, India, Pakistan, Sri Lanka, and Nepal. Applying the cointegration tests and Granger causality within the vector error correction model (VECM), we do not find unanimous evidence of financial development on positive economic growth. These results are helpful for developing countries which have been trying to liberalize the financial sector in recent decades. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title="economic growth">economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20development" title=" financial development"> financial development</a>, <a href="https://publications.waset.org/abstracts/search?q=Granger%20causality" title=" Granger causality"> Granger causality</a>, <a href="https://publications.waset.org/abstracts/search?q=South%20Asia" title=" South Asia"> South Asia</a> </p> <a href="https://publications.waset.org/abstracts/46182/effects-of-financial-development-on-economic-growth-in-south-asia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/46182.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">370</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20459</span> Entrepreneurship Education as a 21st Century Strategy for Economic Growth and Sustainable Development</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20Fems%20Kurotimi">M. Fems Kurotimi</a>, <a href="https://publications.waset.org/abstracts/search?q=Agada%20Franklin"> Agada Franklin</a>, <a href="https://publications.waset.org/abstracts/search?q=Godsave%20Aladei"> Godsave Aladei</a>, <a href="https://publications.waset.org/abstracts/search?q=Opigo%20Helen"> Opigo Helen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Within the last 30 years, entrepreneurship education (EE) has continued to gain massive interest both in the field of research and among policy makers. This surge in interest can be attributed to the perceived importance EE plays in the equipping of potential entrepreneurs and as a 21<sup>st</sup> century strategy to foster economic growth and development. This paper sets out to ascertain the correlation between EE and economic growth and development. A desk research approach was adopted where a multiplicity of literatures in the field were studied intensely. The findings reveal that indeed EE has a positive effect on entrepreneurship engagement thereby fostering economic growth and development. However, some research studies reported the contrary. That although EE may be able to equip potential entrepreneurs with requisite entrepreneurial skills and competencies, it will only be successful in producing entrepreneurs if they are internally driven to become entrepreneurs, because we cannot make people what they are not. The findings also reveal that countries that adopted EE early have more innovations inspired by entrepreneurs and are more developed than those that only recently adopted EE as a viable tool for entrepreneurship and economic development. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=entrepreneurship" title="entrepreneurship">entrepreneurship</a>, <a href="https://publications.waset.org/abstracts/search?q=entrepreneurship%20education" title=" entrepreneurship education"> entrepreneurship education</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20development" title=" economic development"> economic development</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title=" sustainable development"> sustainable development</a> </p> <a href="https://publications.waset.org/abstracts/73314/entrepreneurship-education-as-a-21st-century-strategy-for-economic-growth-and-sustainable-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/73314.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">336</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20458</span> Financial Development, FDI, and Intellectual Property on Economic Growth in Iran</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fatemeh%20Fahimifar">Fatemeh Fahimifar</a>, <a href="https://publications.waset.org/abstracts/search?q=Rouhollah%20Nazari"> Rouhollah Nazari</a>, <a href="https://publications.waset.org/abstracts/search?q=Seyed%20Mohammad%20Reza%20Hosseini"> Seyed Mohammad Reza Hosseini </a> </p> <p class="card-text"><strong>Abstract:</strong></p> Achieving an adaptable rate of economic growth has always been at the forefront of Iran development programs. In order to increase welfare level of the people in the society, all economic and social indices should be improved which is possible just in case of country's economic development and growth. While developing countries has realized the gap between developed countries and developing countries in today's world, a massive movement has been emerged in less developed countries to eliminate this economic gap. Hence this study investigates the effect of financial development, foreign direct investment and intellectual property on Iran's economic growth and taking into account other variables on economic growth such as impact of the share of foreign direct investment on GDP, government consumptive expenditure share of GDP has been paid. Period used in this study is related to the years 1974 to 2009. Also, in this research we have used Generalized Method of Moments (GMM) to examine relationship between variables. The results of this study indicate a meaningful and negative impact of financial development, the share of government consumptive expenditure to GDP and similarly, the initial GDP on economic growth. Also, the degree of economy openness, foreign direct investment and intellectual property has a meaningful positive impact on economic growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20development" title="financial development">financial development</a>, <a href="https://publications.waset.org/abstracts/search?q=FDI" title=" FDI"> FDI</a>, <a href="https://publications.waset.org/abstracts/search?q=intellectual%20property" title=" intellectual property"> intellectual property</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=Iran" title=" Iran"> Iran</a> </p> <a href="https://publications.waset.org/abstracts/24140/financial-development-fdi-and-intellectual-property-on-economic-growth-in-iran" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/24140.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">468</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20457</span> Financial Globalization, IFRS and Economic Growth: A Study on Advanced and Developing Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bilal%20Arshad">Bilal Arshad</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to analyse the impact of financial globalisation on economic growth, specifically focusing on how it is influenced by the implementation of International Financial Reporting Standards (IFRS). In addition, we analyze the influence of IFRS and a country's level of financial development on this relationship. Available literature suggested that this study expands upon previous research on financial globalization, financial development, and economic growth by examining the impact of International Financial Reporting Standards (IFRS) on advanced and developed countries from 1996 to 2019. The application of the Generalised Method of Moments estimator reveals that financial globalisation in nations that have adopted the International Financial Reporting Standards (IFRS) has a substantial and favourable impact on economic growth. The impact of financial globalisation on economic growth is influenced by the level of financial development. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20globalization" title="financial globalization">financial globalization</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20development" title=" financial development"> financial development</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS" title=" IFRS"> IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a> </p> <a href="https://publications.waset.org/abstracts/189744/financial-globalization-ifrs-and-economic-growth-a-study-on-advanced-and-developing-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/189744.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">43</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20456</span> Analysis of Economic Development Challenges of Rapid Population Growth in Nigeria: Way Forward</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sabiu%20%20Abdullahi%20Yau">Sabiu Abdullahi Yau</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Nigeria is a high fertility country that experiences eye-popping population growth, with no end in sight. However, there is evidence that its large population inhibits government’s efforts in meeting the basic needs of the people. Moreover, past and present governments of Nigeria have been committing huge amount of financial resources to meet the basic infrastructural requirements capable of propelling growth and development. Despite the country’s large population and abundant natural resources, poverty, unemployment, rural-urban migration, deforestation and inadequate infrastructural facilities have been persistently on the increase resulting in consistent failure of government policies to impact positively on the economy. This paper, however, identifies and critically analyses the major development challenges caused by population growth in Nigeria using secondary data. The paper concludes that for the Nigeria’s economy to develop, all the identified challenges posed by rapid population growth must be promptly and squarely addressed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20development" title="economic development">economic development</a>, <a href="https://publications.waset.org/abstracts/search?q=population" title=" population"> population</a>, <a href="https://publications.waset.org/abstracts/search?q=growth" title=" growth"> growth</a>, <a href="https://publications.waset.org/abstracts/search?q=Nigeria" title=" Nigeria"> Nigeria</a> </p> <a href="https://publications.waset.org/abstracts/51895/analysis-of-economic-development-challenges-of-rapid-population-growth-in-nigeria-way-forward" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/51895.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">330</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20455</span> Enhancing Human Resource Development in Entrepreneurship: A Catalyst for Economic Growth and Development in Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Eli%20Maikoto%20Agison">Eli Maikoto Agison </a> </p> <p class="card-text"><strong>Abstract:</strong></p> The relevance of enhancing human resource development in entrepreneurship for economic growth and development cannot be overemphasized since no country can grow and developed economically above its citizenry. Africa for example and Nigeria in particular is lagging behind in terms of economic growth and development when compared with other developed countries of the world like China, Japan, Singapore, USA etc. The reason is not farfetched from these developed countries efforts in enhancing human resource development in entrepreneurship education. For Nigeria to attain this height of development, this paper discusses the meaning of human resource development in entrepreneurship as the framework for helping employees develop their personal and organizational skills knowledge and abilities as this includes employee training, career development and performance management to enable an organization achieve a set goal. While entrepreneurship education is seen as an aspect of education that is geared towards self-reliance, some of the challenges faced in the enhancement of human resource development in Nigeria include inadequate training and re-training of instructors of entrepreneurship in higher education. Insufficient funding to higher education were discussed and recommendations to include adequate funding, training and re-training of instructors of higher education be enhanced as some of the ways forward. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20development" title="economic development">economic development</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=entrepreneurship%20education" title=" entrepreneurship education"> entrepreneurship education</a>, <a href="https://publications.waset.org/abstracts/search?q=human%20resource%20development" title=" human resource development "> human resource development </a> </p> <a href="https://publications.waset.org/abstracts/53224/enhancing-human-resource-development-in-entrepreneurship-a-catalyst-for-economic-growth-and-development-in-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/53224.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">292</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20454</span> The Relationship between Energy Consumption and Economic Growth in Turkey: A Time Series Analysis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Burcu%20Guvenek">Burcu Guvenek</a>, <a href="https://publications.waset.org/abstracts/search?q=Volkan%20Alptekin"> Volkan Alptekin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Turkey is a country in the process of development and its economy has undergone structural reforms in order to realize a sustainable development and energy has vital role as a basic input for this aim. Turkey has been in the process of economic growth and development and, because of this, has an increasing energy need. This paper investigates relationship between economic growth and electricity consumption using annual data for Turkey between 1970-2008 by using bounds test. As economic growth and energy consumption variables used in empirical analysis was different order of integration I(0) and I(1), we employed bounds test approach. We have not found co-integration relationship between the variables. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bounds%20test" title="bounds test">bounds test</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=energy%20consumption" title=" energy consumption"> energy consumption</a>, <a href="https://publications.waset.org/abstracts/search?q=Turkey" title=" Turkey"> Turkey</a> </p> <a href="https://publications.waset.org/abstracts/32145/the-relationship-between-energy-consumption-and-economic-growth-in-turkey-a-time-series-analysis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/32145.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">363</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20453</span> Compromising Relevance for Elegance: A Danger of Dominant Growth Models for Backward Economies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Givi%20Kupatadze">Givi Kupatadze</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Backward economies are facing a challenge of achieving sustainable high economic growth rate. Dominant growth models represent a roadmap in framing economic development strategy. This paper examines a relevance of the dominant growth models for backward economies. Cobb-Douglas production function, the Harrod-Domar model of economic growth, the Solow growth model and general formula of gross domestic product are examined to undertake a comprehensive study of the dominant growth models. Deductive research method allows to uncover major weaknesses of the dominant growth models and to come up with practical implications for economic development strategy. The key finding of the paper shows, contrary to what used to be taught by textbooks of economics, that constant returns to scale property of the dominant growth models are a mere coincidence and its generalization over space and time can be regarded as one of the most unfortunate mistakes in the whole field of political economy. The major suggestion of the paper for backward economies is that understanding and considering taxonomy of economic activities based on increasing and diminishing returns to scale represent a cornerstone of successful economic development strategy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=backward%20economies" title="backward economies">backward economies</a>, <a href="https://publications.waset.org/abstracts/search?q=constant%20returns%20to%20scale" title=" constant returns to scale"> constant returns to scale</a>, <a href="https://publications.waset.org/abstracts/search?q=dominant%20growth%20models" title=" dominant growth models"> dominant growth models</a>, <a href="https://publications.waset.org/abstracts/search?q=taxonomy%20of%20economic%20activities" title=" taxonomy of economic activities"> taxonomy of economic activities</a> </p> <a href="https://publications.waset.org/abstracts/54835/compromising-relevance-for-elegance-a-danger-of-dominant-growth-models-for-backward-economies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/54835.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">375</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20452</span> The Relationship between Democracy, Freedom and Economic Development </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ugur%20Karakaya">Ugur Karakaya</a>, <a href="https://publications.waset.org/abstracts/search?q=Hasan%20Bulent%20Kantarc%C4%B1"> Hasan Bulent Kantarcı</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this study, firstly democratic thoughts which directly or indirectly affect economic development and/or the interaction between authoritarian regimes and the economic development and the direction and channels of this interaction were studied and then the study tried to determine how democracy affects economic development. It was concluded that the positive contributions of democracy to economic development were more determinant than the effects that were either negative or restrictive in terms of development. When compared to autocracy, since democracy is more successful in managing social conflicts, ensuring political stability and preventing social disasters such as famine, it contributes more to economic development. Democracy also facilitates delegation of authority, provides a stable investment environment and accelerates mobilization of resources in accordance with economic growth/development. Democracy leads to an increase in human capital accumulation and increases the growth rate through reducing income inequality. It can be said that democratic regimes are the most appropriate ones in terms of increasing economic performance and supporting economic development through their strong institutional structures and the assurance they will ensure in property rights. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=democracy" title="democracy">democracy</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20freedom" title=" economic freedom"> economic freedom</a>, <a href="https://publications.waset.org/abstracts/search?q=autocratic%20regime" title=" autocratic regime"> autocratic regime</a> </p> <a href="https://publications.waset.org/abstracts/29461/the-relationship-between-democracy-freedom-and-economic-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29461.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">498</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20451</span> An Assessment of Poland's Current Macroeconomic Conditions to Determine Whether It Is in a Middle Income Trap</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bozena%20Leven">Bozena Leven</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The middle-income trap (MIT) describes a situation faced by countries at a relatively mature stage of development that often poses an obstacle to sustainable long-term growth. MIT is characterized by declining factor productivity from the exhaustion of labor intensive, import and Foreign Direct Investment (FDI) based strategies when middle-income status is achieved. In this paper, we focus on MIT and Poland. In the past two decades, Poland experienced steady growth based largely on imported technologies and low-cost labor. Recently, that economic growth has slowed, prompting economists to ask whether Poland is experiencing MIT. To answer this question, we analyze changes in investment in Poland; specifically- its growth and composition – as well as savings, FDI, educational attainments of the labor force, development of new technologies and products, the role of imports, diversification of exports, and product complexity. We also examine the development of modern infrastructure, institutions (including legal environment) and demographic changes in Poland that support growth. Our findings indicate that certain factors consistent with MIT are gaining importance in Poland, and represent a challenge to that country’s future growth rate. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=engines%20of%20growth" title="engines of growth">engines of growth</a>, <a href="https://publications.waset.org/abstracts/search?q=factor%20productivity" title=" factor productivity"> factor productivity</a>, <a href="https://publications.waset.org/abstracts/search?q=middle%20income%20trap" title=" middle income trap"> middle income trap</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title=" sustainable development"> sustainable development</a> </p> <a href="https://publications.waset.org/abstracts/77703/an-assessment-of-polands-current-macroeconomic-conditions-to-determine-whether-it-is-in-a-middle-income-trap" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/77703.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">211</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20450</span> Analyzing the Empirical Link between Islamic Finance and Growth of Real Output: A Time Series Application to Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nazima%20Ellahi">Nazima Ellahi</a>, <a href="https://publications.waset.org/abstracts/search?q=Danish%20Ramzan"> Danish Ramzan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> There is a growing trend among development economists regarding the importance of financial sector for economic development and growth activities. The development thus introduced, helps to promote welfare effects and poverty alleviation. This study is an attempt to find the nature of link between Islamic banking financing and development of output growth for Pakistan. Time series data set has been utilized for a time period ranging from 1990 to 2010. Following the Phillip Perron (PP) and Augmented Dicky Fuller (ADF) test of unit root this study applied Ordinary Least Squares (OLS) method of estimation and found encouraging results in favor of promoting the Islamic banking practices in Pakistan. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20finance" title="Islamic finance">Islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=poverty%20alleviation" title=" poverty alleviation"> poverty alleviation</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=finance" title=" finance"> finance</a>, <a href="https://publications.waset.org/abstracts/search?q=commerce" title=" commerce"> commerce</a> </p> <a href="https://publications.waset.org/abstracts/3341/analyzing-the-empirical-link-between-islamic-finance-and-growth-of-real-output-a-time-series-application-to-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/3341.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">345</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20449</span> An Overview of Smart Growth Concept from Ecological Planning Perspective </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ozge%20Celik">Ozge Celik</a>, <a href="https://publications.waset.org/abstracts/search?q=Elvan%20Ender"> Elvan Ender</a> </p> <p class="card-text"><strong>Abstract:</strong></p> With rapidly increasing population growth and industrial revolution in the 1950s, in Turkey migration began to the cities from the countryside. Along the rapid growth of urban population has started to bring many problems. Depending on the uncontrolled urban development, concerns about the protection of natural values has increased day by day. As a result of disturbance on the natural environment, human health has started to be under threat. After all, much urban planning approaches outspread that protecting natural resources by respect to human health and troubleshooting problems emerging with anthropogenic effects. Smart growth concept is one of the chosen methods to resolve the problems in Turkey. In this paper, smart growth concept idea and its criteria will be explained while ecological planning and urban planning problems will be mentioned in Turkey according to the need of concept. Studies, consisting of practical and theoretical smart growth ideas, shows that ecological landscape planning is not included in the urban development process in Turkey. The main idea is to initiate urban development plans considering social and cultural structures of cultural assets and also natural values. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ecological%20landscape%20planning" title="ecological landscape planning">ecological landscape planning</a>, <a href="https://publications.waset.org/abstracts/search?q=smart%20growth" title=" smart growth"> smart growth</a>, <a href="https://publications.waset.org/abstracts/search?q=Turkey" title=" Turkey"> Turkey</a>, <a href="https://publications.waset.org/abstracts/search?q=urban%20development" title=" urban development"> urban development</a> </p> <a href="https://publications.waset.org/abstracts/52319/an-overview-of-smart-growth-concept-from-ecological-planning-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/52319.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">367</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20448</span> Growth Pattern Analysis of Khagrachari Pourashava</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Kutub%20Uddin%20Chisty">Kutub Uddin Chisty</a>, <a href="https://publications.waset.org/abstracts/search?q=Md.%20Kamrul%20Islam"> Md. Kamrul Islam</a>, <a href="https://publications.waset.org/abstracts/search?q=Md.%20Ashraful%20Islam"> Md. Ashraful Islam</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Growth pattern is an important factor for a city because it can help to predict future growth trend and development of a city. Khagrachari District is one of the three hill tracts districts in Bangladesh. It is bordered by the Indian State of Tripura on the north, Rangamati and Chittagong districts on the south, Rangamati district on the east, Chittagong district and the Indian State of Tripura on the west. Khagrachari Pourashava is surrounded by hills and waterways. The Pourashava area is mostly inhibited by non-tribal population, while tribal population lives in hilly regions within and around the Pourashava area. The hilly area growth is different. Based on questioners and expert opinions survey, growth pattern of Khagrachari is evaluated. Different culture, history, tribal people, non-tribal people enrich the hilly heritages. In our study, we analyse the city growth pattern and identify the prominent factors that influence the city growth. Thus, it can help us to identify growth trend of the city. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=growth%20pattern" title="growth pattern">growth pattern</a>, <a href="https://publications.waset.org/abstracts/search?q=growth%20trend" title=" growth trend"> growth trend</a>, <a href="https://publications.waset.org/abstracts/search?q=prominent%20factors" title=" prominent factors"> prominent factors</a>, <a href="https://publications.waset.org/abstracts/search?q=regional%20development" title=" regional development"> regional development</a> </p> <a href="https://publications.waset.org/abstracts/6038/growth-pattern-analysis-of-khagrachari-pourashava" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/6038.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">341</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20447</span> Long Run Estimates of Population, Consumption and Economic Development of India: An ARDL Bounds Testing Approach of Cointegration</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sanjay%20Kumar">Sanjay Kumar</a>, <a href="https://publications.waset.org/abstracts/search?q=Arumugam%20Sankaran"> Arumugam Sankaran</a>, <a href="https://publications.waset.org/abstracts/search?q=Arjun%20K."> Arjun K.</a>, <a href="https://publications.waset.org/abstracts/search?q=Mousumi%20Das"> Mousumi Das</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The amount of domestic consumption and population growth is having a positive impact on economic growth and development as observed by the Harrod-Domar and endogenous growth models. The paper negates the Solow growth model which argues the population growth has a detrimental impact on per capita and steady-state growth. Unlike the Solow model, the paper observes, the per capita income growth never falls zero, and it sustains as positive. Hence, our goal here is to investigate the relationship among population, domestic consumption and economic growth of India. For this estimation, annual data from 1980-2016 has been collected from World Development Indicator and Reserve Bank of India. To know the long run as well as short-run dynamics among the variables, we have employed the ARDL bounds testing approach of cointegration followed by modified Wald causality test to know the direction of causality. The conclusion from cointegration and ARDL estimates reveal that there is a long run positive and statistically significant relationship among the variables under study. At the same time, the causality test shows that there is a causal relationship that exists among the variables. Hence, this calls for policies which have a long run perspective in strengthening the capabilities and entitlements of people and stabilizing domestic demand so as to serve long run and short run growth and stability of the economy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cointegration" title="cointegration">cointegration</a>, <a href="https://publications.waset.org/abstracts/search?q=consumption" title=" consumption"> consumption</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20development" title=" economic development"> economic development</a>, <a href="https://publications.waset.org/abstracts/search?q=population%20growth" title=" population growth"> population growth</a> </p> <a href="https://publications.waset.org/abstracts/107590/long-run-estimates-of-population-consumption-and-economic-development-of-india-an-ardl-bounds-testing-approach-of-cointegration" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107590.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">159</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20446</span> The Impact of Public Finance Management on Economic Growth and Development in South Africa</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zintle%20Sikhunyana">Zintle Sikhunyana</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Management of public finance in many countries such as South Africa is affected by political decisions and by policies around fiscal decentralization amongst the government spheres. Economic success is said to be determined by efficient management of public finance and by the policies or strategies that are implemented to support efficient public finance management. Policymakers focus on pay attention to how economic policies have been implemented and how they are directed into ensuring stable development. This will allow policymakers to address economic challenges through the usage of fiscal policy parameters that are linked to the achieved rate of economic growth and development. Efficient public finance management reduces the likelihood of corruption and corruption is said to have negative effects on economic growth and development. Corruption in public finance refers to an act of using funds for personal benefits. To achieve macroeconomic objectives, governments make use of government expenditure and government expenditure is financed through tax revenue. The main aim of this paper is to investigate the potential impact of public finance management on economic growth and development in South Africa. The secondary data obtained from the South African Reserve Bank (SARB) and World Bank for 1980- 2020 has been utilized to achieve the research objectives. To test the impact of public finance management on economic growth and development, the study will use Seeming Unrelated Regression Equation (SURE) Modelling that allows researchers to model multiple equations with interdependent variables. The advantages of using SUR are that it efficiently allows estimation of relationships between variables by combining information on different equations and SUR test restrictions that involve parameters in diﬀerent equations. The findings have shown that there is a positive relationship between efficient public finance management and economic growth/development. The findings also show that efficient public finance management has an indirect positive impact on economic growth and development. Corruption has a negative impact on economic growth and development. It results in an efficient allocation of government resources and thereby improves economic growth and development. The study recommends that governments who aim to stimulate economic growth and development should target and strengthen public finance management policies or strategies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corruption" title="corruption">corruption</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20development" title=" economic development"> economic development</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20finance%20management" title=" public finance management"> public finance management</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20decentralization" title=" fiscal decentralization"> fiscal decentralization</a> </p> <a href="https://publications.waset.org/abstracts/138378/the-impact-of-public-finance-management-on-economic-growth-and-development-in-south-africa" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/138378.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">201</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20445</span> Digitalization, Economic Growth and Financial Sector Development in Africa</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdul%20Ganiyu%20Iddrisu">Abdul Ganiyu Iddrisu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Digitization is the process of transforming analog material into digital form, especially for storage and use in a computer. Significant development of information and communication technology (ICT) over the past years has encouraged many researchers to investigate its contribution to promoting economic growth, and reducing poverty. Yet compelling empirical evidence on the effects of digitization on economic growth remains weak, particularly in Africa. This is because extant studies that explicitly evaluate digitization and economic growth nexus are mostly reports and desk reviews. This points out an empirical knowledge gap in the literature. Hypothetically, digitization influences financial sector development which in turn influences economic growth. Digitization has changed the financial sector and its operating environment. Obstacles to access to financing, for instance, physical distance, minimum balance requirements, low-income flows among others can be circumvented. Savings have increased, micro-savers have opened bank accounts, and banks are now able to price short-term loans. This has the potential to develop the financial sector, however, empirical evidence on digitization-financial development nexus is dearth. On the other hand, a number of studies maintained that financial sector development greatly influences growth of economies. We therefore argue that financial sector development is one of the transmission mechanisms through which digitization affects economic growth. Employing macro-country-level data from African countries and using fixed effects, random effects and Hausman-Taylor estimation approaches, this paper contributes to the literature by analysing economic growth in Africa focusing on the role of digitization, and financial sector development. First, we assess how digitization influence financial sector development in Africa. From an economic policy perspective, it is important to identify digitization determinants of financial sector development so that action can be taken to reduce the economic shocks associated with financial sector distortions. This nexus is rarely examined empirically in the literature. Secondly, we examine the effect of domestic credit to private sector and stock market capitalization as a percentage of GDP as used to proxy for financial sector development on 2 economic growth. Digitization is represented by the volume of digital/ICT equipment imported and GDP growth is used to proxy economic growth. Finally, we examine the effect of digitization on economic growth in the light of financial sector development. The following key results were found; first, digitalization propels financial sector development in Africa. Second, financial sector development enhances economic growth. Finally, contrary to our expectation, the results also indicate that digitalization conditioned on financial sector development tends to reduce economic growth in Africa. However, results of the net effects suggest that digitalization, overall, improves economic growth in Africa. We, therefore, conclude that, digitalization in Africa does not only develop the financial sector but unconditionally contributes the growth of the continent’s economies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=digitalization" title="digitalization">digitalization</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20sector%20development" title=" financial sector development"> financial sector development</a>, <a href="https://publications.waset.org/abstracts/search?q=Africa" title=" Africa"> Africa</a> </p> <a href="https://publications.waset.org/abstracts/158028/digitalization-economic-growth-and-financial-sector-development-in-africa" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/158028.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">103</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20444</span> Entrepreneurial Determinants Contributing to the Long Term Growth of Young Hi-Technology Start-Ups</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=A.%20Binnui">A. Binnui</a>, <a href="https://publications.waset.org/abstracts/search?q=O.%20Kalinowska-Beszczynska"> O. Kalinowska-Beszczynska</a>, <a href="https://publications.waset.org/abstracts/search?q=G.%20Shaw"> G. Shaw</a> </p> <p class="card-text"><strong>Abstract:</strong></p> It is postulated that innovative deployment of entrepreneurial activities leads to firm's growth. This paper draws upon the key predictions of the core theories on entrepreneurship and innovation to formulate a conceptual framework which can be used to depict the casual chain of events from which entrepreneurs can manage more innovatively and ultimately deliver higher growth which benefits of the regional and national economies. It examines the key firm-based factors extracted from the theories, namely the characteristics of entrepreneurial hi-tech firms, characteristics of innovating firms, and firm growth dynamics that lead to enhanced economic growth. The framework postulates that the key determinants extracted such as entrepreneurial demographics, firm characteristic, skills and competencies, research and development, product/service characteristics, market development, financial of the firm and internationalization might lead to the survival and long term development of high-technology startups. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=innovative%20entrepreneurial%20activities" title="innovative entrepreneurial activities">innovative entrepreneurial activities</a>, <a href="https://publications.waset.org/abstracts/search?q=entrepreneuship" title=" entrepreneuship"> entrepreneuship</a>, <a href="https://publications.waset.org/abstracts/search?q=determinants" title=" determinants"> determinants</a>, <a href="https://publications.waset.org/abstracts/search?q=growth" title=" growth"> growth</a>, <a href="https://publications.waset.org/abstracts/search?q=hi-technology%20start-upws" title=" hi-technology start-upws"> hi-technology start-upws</a> </p> <a href="https://publications.waset.org/abstracts/99700/entrepreneurial-determinants-contributing-to-the-long-term-growth-of-young-hi-technology-start-ups" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/99700.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">140</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20443</span> Good Governance and Human Development: Case of Rwanda</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hatun%20Korkmaz">Hatun Korkmaz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Todays, the developing countries of the world widely face challenges of economic growth, political, social and human development. One of the ways to achieve economic, political and human development is good governance. Without an improvement in good governance, the objectives of human development cannot be achieved. The good governance has become a key issue over preceding two decades and it is the very important component of good economic growth and human development. This paper argues that good governance impacts positively human development with the case of Rwanda. Rwanda is a good example of this subject. In this paper, firstly we explained that what is good governance and human development and how we measure them. Then we researched the relationship between good governance and human development in case of Rwanda with the indexes of many international institutions which are researching in this topics. Rwanda has recorded the 'best progress' since the year 2000, making it the ‘most successful' about governance. Rwanda is seen as one of the top ten countries in the region in terms of relative peace, political stability and economic progress. Part of the reason for Rwanda's success is accountability, which comprises access to information, elimination of corruption and bureaucracy and transparency in public service, which variables cumulatively earned it 72.1 percent. According to this research If countries want batter growth and human development then good reforms of good governance is needed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=human%20development" title="human development">human development</a>, <a href="https://publications.waset.org/abstracts/search?q=Rwanda" title=" Rwanda"> Rwanda</a>, <a href="https://publications.waset.org/abstracts/search?q=good%20governance" title=" good governance"> good governance</a>, <a href="https://publications.waset.org/abstracts/search?q=governance" title=" governance"> governance</a>, <a href="https://publications.waset.org/abstracts/search?q=development" title=" development"> development</a> </p> <a href="https://publications.waset.org/abstracts/94445/good-governance-and-human-development-case-of-rwanda" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/94445.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">244</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20442</span> Growth of Public Listed Construction Companies in Malaysia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20C.%20Theong">M. C. Theong</a>, <a href="https://publications.waset.org/abstracts/search?q=F.%20L.%20Ang"> F. L. Ang</a>, <a href="https://publications.waset.org/abstracts/search?q=G.%20J.%20Muga"> G. J. Muga</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Growth of firms is influenced by environmental changes such as the global and national economy. On the other hand, it indicates the economic situation of a country. Therefore, it is imperative for firms to be sensitive to changes and to stay competitive and remain compatible with the environment. The Malaysian construction industry is prone to environmental changes due to its complexity. In order to survive in the construction industry, focus on the development of the firms themselves to achieve long term their long term goals is vital besides maximizing profits. The objective of this paper is to measure growth of the public listed construction companies in Malaysia and to investigate the development of the companies with highest, moderate and lowest growth. Growth is measured based on the companies' sales between year 2008 and 2012 collected via secondary data collection method. Findings show that the highest average growth created is 235.20 % while the lowest average growth is -22.75%. The construction companies remained active in the construction industry by implementing different sets of strategies and involving in several types of construction projects. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=growth" title="growth">growth</a>, <a href="https://publications.waset.org/abstracts/search?q=Malaysian%20construction%20industry" title=" Malaysian construction industry"> Malaysian construction industry</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20listed%20companies" title=" public listed companies"> public listed companies</a>, <a href="https://publications.waset.org/abstracts/search?q=sales" title=" sales"> sales</a> </p> <a href="https://publications.waset.org/abstracts/10646/growth-of-public-listed-construction-companies-in-malaysia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/10646.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">382</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20441</span> Digitization and Economic Growth in Africa: The Role of Financial Sector Development</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdul%20Ganiyu%20Iddrisu">Abdul Ganiyu Iddrisu</a>, <a href="https://publications.waset.org/abstracts/search?q=Bei%20Chen"> Bei Chen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Digitization is the process of transforming analog material into digital form, especially for storage and use in a computer. Significant development of information and communication technology (ICT) over the past years has encouraged many researchers to investigate its contribution to promoting economic growth and reducing poverty. Yet the compelling empirical evidence on the effects of digitization on economic growth remains weak, particularly in Africa. This is because extant studies that explicitly evaluate digitization and economic growth nexus are mostly reports and desk reviews. This points out an empirical knowledge gap in the literature. Hypothetically, digitization influences financial sector development which in turn influences economic growth. Digitization has changed the financial sector and its operating environment. Obstacles to access to financing, for instance, physical distance, minimum balance requirements, and low-income flows, among others can be circumvented. Savings have increased, micro-savers have opened bank accounts, and banks are now able to price short-term loans. This has the potential to develop the financial sector. However, empirical evidence on the digitization-financial development nexus is dearth. On the other hand, a number of studies maintained that financial sector development greatly influences growth of economies. We, therefore, argue that financial sector development is one of the transmission mechanisms through which digitization affects economic growth. Employing macro-country-level data from African countries and using fixed effects, random effects and Hausman-Taylor estimation approaches, this paper contributes to the literature by analysing economic growth in Africa, focusing on the role of digitization and financial sector development. First, we assess how digitization influences financial sector development in Africa. From an economic policy perspective, it is important to identify digitization determinants of financial sector development so that action can be taken to reduce the economic shocks associated with financial sector distortions. This nexus is rarely examined empirically in the literature. Secondly, we examine the effect of domestic credit to the private sector and stock market capitalization as a percentage of GDP as used to proxy for financial sector development on economic growth. Digitization is represented by the volume of digital/ICT equipment imported and GDP growth is used to proxy economic growth. Finally, we examine the effect of digitization on economic growth in the light of financial sector development. The following key results were found; first, digitalization propels financial sector development in Africa. Second, financial sector development enhances economic growth. Finally, contrary to our expectation, the results also indicate that digitalization conditioned on financial sector development tends to reduce economic growth in Africa. However, results of the net effects suggest that digitalization, overall, improve economic growth in Africa. We, therefore, conclude that, digitalization in Africa does not only develop the financial sector but unconditionally contributes the growth of the continent’s economies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=digitalization" title="digitalization">digitalization</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20sector%20development" title=" financial sector development"> financial sector development</a>, <a href="https://publications.waset.org/abstracts/search?q=Africa" title=" Africa"> Africa</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a> </p> <a href="https://publications.waset.org/abstracts/151925/digitization-and-economic-growth-in-africa-the-role-of-financial-sector-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/151925.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">140</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20440</span> Strategic Investment in Infrastructure Development to Facilitate Economic Growth in the United States</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Arkaprabha%20Bhattacharyya">Arkaprabha Bhattacharyya</a>, <a href="https://publications.waset.org/abstracts/search?q=Makarand%20Hastak"> Makarand Hastak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title="economic growth">economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=infrastructure%20development" title=" infrastructure development"> infrastructure development</a>, <a href="https://publications.waset.org/abstracts/search?q=infrastructure%20projects" title=" infrastructure projects"> infrastructure projects</a>, <a href="https://publications.waset.org/abstracts/search?q=strategic%20investment" title=" strategic investment"> strategic investment</a> </p> <a href="https://publications.waset.org/abstracts/129316/strategic-investment-in-infrastructure-development-to-facilitate-economic-growth-in-the-united-states" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/129316.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">171</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20439</span> Study of Growth Patterns of the Built-Up Area in Tourism Destinations in Relation to Sustainable Development</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tagore%20Sai%20Priya%20Nunna">Tagore Sai Priya Nunna</a>, <a href="https://publications.waset.org/abstracts/search?q=Ankhi%20Banerjee"> Ankhi Banerjee</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The rapid growth of the tourism industry in India in the last few years after the economic crisis in 2009 has been one of the significant causes that led to the Land Use Land Cover change (LULC) of most tourism destinations. The tourist regions are subjected to significant increase in built-up due to increased construction activities for developing accommodation facilities further boosting tourism demand. This research attempts to analyse the changing LULC and the growth pattern of the built-up area within tourist destinations. Four popular tourist destinations, which promises various types of tourism activity and which are significantly dependent on tourism for economic growth, are selected for the study. The study uses remotely sensed data for analysis of land use change through supervised segmentation into five broad classes. Further, the landuse map is reclassified into binary classes to extract the built-up area. The growth patterns of the built-up are analysed in terms of size, shape, direction and form of growth, through a set of spatial metrics. Additionally, a detailed analysis of the existing development pattern corresponding to planned development zones was performed to identify unplanned growth spots in the study regions. The findings of the study provide insights into how tourism has contributed to significant changes in LULC around tourist sites. Also, the study highlights the growth pattern of built-up areas with respect to the type of tourism activity and geographical characteristics. The research attempts to address the need of integrating spatial metrics for the development of sustainable tourism plans as part of the goals of sustainable development. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=built-up" title="built-up">built-up</a>, <a href="https://publications.waset.org/abstracts/search?q=growth" title=" growth"> growth</a>, <a href="https://publications.waset.org/abstracts/search?q=patterns" title=" patterns"> patterns</a>, <a href="https://publications.waset.org/abstracts/search?q=tourism" title=" tourism"> tourism</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable" title=" sustainable"> sustainable</a> </p> <a href="https://publications.waset.org/abstracts/154177/study-of-growth-patterns-of-the-built-up-area-in-tourism-destinations-in-relation-to-sustainable-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/154177.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">115</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20438</span> Innovation and Entrepreneurship Skills Attainment for the Growth of Industry: Panacea for Economic Development</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ademoyegun%20Olusegun">Ademoyegun Olusegun</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The advancement of industry in any given state involves a range of processes that entail entrepreneurship and innovative skill attainment, among others, for the development of an economy. This article studied the impact of innovative and entrepreneurship skill attainment as the panacea of the growth of industry for economic development in Nigeria. Content analysis was employed as an instrument on data obtained from secondary resources which include journals, magazines, Workshop Articles, the Internet, interviewing etc. this is preferred because of the absence of sequential data related to entrepreneurship and innovation on sustainable economic growth in Nigeria. The theory of innovative Entrepreneurship was used as a theoretical framework. Findings revealed that Entrepreneurship skill attainment will induce innovation that will accelerate the growth of Industry for the advancement of the Economy. The study recommended that the government should invest adequately in entrepreneurship skill attainment and create an enabling environment for innovation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=entrepreneurship" title="entrepreneurship">entrepreneurship</a>, <a href="https://publications.waset.org/abstracts/search?q=innovation" title=" innovation"> innovation</a>, <a href="https://publications.waset.org/abstracts/search?q=skill%20attainment" title=" skill attainment"> skill attainment</a>, <a href="https://publications.waset.org/abstracts/search?q=panacea" title=" panacea"> panacea</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title=" sustainable development"> sustainable development</a> </p> <a href="https://publications.waset.org/abstracts/175352/innovation-and-entrepreneurship-skills-attainment-for-the-growth-of-industry-panacea-for-economic-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/175352.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">79</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20437</span> Stock Market Development and the Growth of Nigerian Economy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Godwin%20Chigozie%20Okpara">Godwin Chigozie Okpara</a>, <a href="https://publications.waset.org/abstracts/search?q=Eugene%20Iheanacho"> Eugene Iheanacho</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=market%20capitalization%20ratio" title="market capitalization ratio">market capitalization ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=turnover%20ratio" title=" turnover ratio"> turnover ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=liquidity" title=" liquidity"> liquidity</a>, <a href="https://publications.waset.org/abstracts/search?q=unit%20root%20test" title=" unit root test"> unit root test</a>, <a href="https://publications.waset.org/abstracts/search?q=cointegration" title=" cointegration"> cointegration</a> </p> <a href="https://publications.waset.org/abstracts/52846/stock-market-development-and-the-growth-of-nigerian-economy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/52846.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">339</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=growth%20and%20development&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=growth%20and%20development&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=growth%20and%20development&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=growth%20and%20development&page=5">5</a></li> <li class="page-item"><a class="page-link" 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