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Open Access
Article
Publication date: 20 August 2024

Zeeshan Nezami Ansari and Rajendra Narayan Paramanik

The aim of the paper is to investigate Goodwin’s growth cycle in the Indian organised manufacturing industries.

Abstract

Purpose

The aim of the paper is to investigate Goodwin’s growth cycle in the Indian organised manufacturing industries.

Design/methodology/approach

The methodology is based on bi-variate differential equation, econometrics model like log-linear regression and Autoregressive Distributed Lag model. An empirical investigation is conducted on data from the Annual Survey of Industries from 1980 to 2018 time period.

Findings

The results indicate that though the original Goodwin model estimates deviated from data estimates, its modified (neo-Goodwin) model are found to be equivalent to the data estimates. Moreover, in contrast to the original model, the capital accumulation rate (investment to profit ratio) is not assumed to be unitary in the modified Goodwin model. Furthermore, the labour market-led and cost effect conditions of the Goodwin cycle are empirically verified by investigating the interdependency between employment rate and wage share. Lastly, the short- and long-run Goodwin cycles are observed to be moving in anti-clockwise direction in the employment rate and wage share bi-dimensional plane, thus confirming the existence of profit-led distribution where wage share continuously reducing with high employment.

Research limitations/implications

This study opens the discussion on application of capitalistic model in the emerging economy and also suggests to incorporate some theoretical models like Kaldorian, Keynesian, Kaleckian or Schumpetrian into the Goodwin cycle.

Originality/value

This is the first paper which empirically examines the capitalistic nature of Indian organised manufacturing industries through the lens of Goodwin growth cycle and then extend it to the Neo-Goodwin model by relaxing one of the unrealistic assumption regarding unitary investment to profit ratio.

Details

EconomiA, vol. 25 no. 3
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 16 July 2019

Rabia Khatun and Jagadish Prasad Bist

The purpose of this paper is to examine the relationship between financial development, openness in financial services trade and economic growth in BRICS countries for the period…

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Abstract

Purpose

The purpose of this paper is to examine the relationship between financial development, openness in financial services trade and economic growth in BRICS countries for the period 1990–2012.

Design/methodology/approach

An index for financial development has been constructed using principal component analysis technique by including banking sector development, stock market development, bond market development and insurance sector development. For the robustness of the result, the long-run cointegrating relationship amongst the variables has been analyzed.

Findings

Overall financial development has a positive and significant impact on economic growth. To take the full advantage of openness in financial services trade, countries need to put more emphasis on the development of their stock markets, bond markets and the insurance sector. The result shows that openness in financial services trade has a positive impact on economic growth when the stock market, bond market and insurance sector are included in the system.

Research limitations/implications

The policy implication of the findings is that policymakers should focus more on developing all four areas of finance to get the full benefit of the financial system on the process of economic growth.

Originality/value

The authors have constructed the better indicators of financial development in the case of BRICS economies. Most of the studies in BRICS economies have measured the development of the financial sector as either banking sector development or stock market development. However, the present study includes all four areas of finance (banking sector development, stock market development, insurance sector development and bond market development) into account.

Details

International Trade, Politics and Development, vol. 3 no. 2
Type: Research Article
ISSN: 2586-3932

Keywords

Open Access
Article
Publication date: 27 June 2024

Basak Ozarslan Dogan

This study aims to empirically examine the effects of smart cities on sustainable development for the period 1990–2019 for Türkiye.

Abstract

Purpose

This study aims to empirically examine the effects of smart cities on sustainable development for the period 1990–2019 for Türkiye.

Design/methodology/approach

The relationship between smart cities and sustainable development was analyzed with the help of the ARDL Bounds Test. In addition, the consistency of the model was tested with the FMOLS estimator. The indicators of the smart city were selected following the literature to represent smart cities, and the author created the smart city index. The study used other variables thought to impact sustainable development as secondary data.

Findings

The results show that smart cities positively and significantly impact sustainable development in Turkiye in both models during the sampling period. In addition, while real GDP, population density, and financial development variables positively affect sustainable development, population density has a negative effect on sustainable development, according to the results obtained from FMOLS estimators.

Originality/value

The first novelty of this study is the creation of the smart city index. The second novelty is that there are almost no studies on the effects of smart cities on sustainable development, especially for Türkiye.

Details

EconomiA, vol. 25 no. 3
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 15 July 2020

Cristina Figueroa-Domecq and Mónica Segovia-Perez

This paper aims to present a conceptual model that identifies and relates the different approaches and thematic areas in the research area of tourism and gender.

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Abstract

Purpose

This paper aims to present a conceptual model that identifies and relates the different approaches and thematic areas in the research area of tourism and gender.

Design/methodology/approach

The design of the conceptual model is based on a critical review of the literature and the evolution of feminist paradigms and theories.

Findings

The aforementioned theoretical frameworks are the basis for the further development of feminist studies and a gender perspective in the tourism industry research area, including research design, objectives, methodologies, analysis and result’s presentation.

Research limitations/implications

Based on literature review, is theoretical.

Originality/value

Presentation of a conceptual model around the gender perspective in tourism, that leads to the identification of important research opportunities in this area.

Details

Journal of Tourism Analysis: Revista de Análisis Turístico, vol. 27 no. 2
Type: Research Article
ISSN: 2254-0644

Keywords

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