Joint Impact of the Dimensions of Governance and Economic Freedom on Economic Growth in O.E.C.D. Nations: An Analysis with Controls for Budget Deficits and G8 Status

Cebula, Richard J.; Ekstrom, Marcus

doi:10.5296/rae.v1i1.186

Cited by 5 publications

(5 citation statements)

References 12 publications

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“…The results show that a onepercentage point increase in corruption is associated with a 0.124 percentage point decline in governance. Cebula and Ekstrom (2009) investigate different forms of economic freedom and dimensions of governance to gauge their impact on growth in OECD countries between 2004 and 2007, while adjusting for G8 status and budget status. They use five forms of economic freedom, with trade freedom as an interesting addition to earlier investigations.…”

Section: Literature Reviewmentioning

confidence: 99%

“…This paper contributes to two strands of the literature: (i) the current debate on the role of governance quality in growth (see Acemoglu et al, 2002Acemoglu et al, , 2004Bhattacharyya, 2009;North, 1991) and (ii) macroeconomic studies of the relationship between governance and total factor productivity (TFP) (Olson et al, 2000). While the literature shows that governance has a positive impact on economic growth (see Kaufmann & Kraay, 2002;Cebula & Ekstrom, 2009), to our knowledge there is no existing study on the relationship between governance, average labor productivity growth and TFP growth for Asian countries.…”

Section: Introductionmentioning

confidence: 99%

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Testing the Governance-Productivity Nexus for Emerging Asian Countries

Mustafa

Jamil

2018

LJE

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This paper presents panel data estimates of the relationship between governance, aggregate labor productivity (ALP) growth and total factor productivity (TFP) growth for 12 Asian economies between 1996 and 2013. Our results show that government effectiveness has a positive and significant effect on ALP in both levels and first differences. Regulatory quality has a positive impact on ALP only in first difference. Although both government effectiveness and regulatory quality have a positive effect on TFP growth in first difference, only political stability is significant and positive in the levels specification. Other findings indicate that physical capital and human capital have a positive effect on ALP growth. We also find evidence of positive spillover effects with respect to human capital. The positive association between governance, economic growth and productivity provide a better understanding of the role of governance in enhancing economic performance. Our findings have policy implications for ways to achieve good governance to enhance economic growth and productivity.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Testing the Governance-Productivity Nexus for Emerging Asian Countries

Mustafa

Jamil

2018

LJE

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“…Other factors such as property rights, business freedom and freedom from corruption also contributed to economic prosperity. Cebula & Elkstrom (2009) evaluated countries in the Organisation for Economic Co-Operation and Development (OECD) between 2004 and 2007 (p. 2). Results indicated that economic growth was greater in countries with higher levels of trade and business freedom, monetary freedom and secure systems of property rights protection (Cebula & Elkstrom, 2009, p. 7).…”

Section: Literature Reviewmentioning

confidence: 99%

Does free trade result in higher GDP per capita: An International Perspective

Lambrechts

Erin

Rule

2012

Deakin P Int Bus Econ

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The theory of comparative advantage suggests that free trade increases overall world production of goods and services and it is a positive sum game in which all participating countries realise economic gains. The evaluation of data from a number of countries in this study demonstrates a strong correlation between a country's level of trade freedom (according to its Trade Freedom Index) and its GDP per capita. There are exceptions to this trend in countries that have experienced social or political unrest. This is consistent with research into the relationship between economic freedom and GDP growth which suggest that levels of economic freedom (of which trade freedom is a component) in a country impact upon growth subject to social, economic or political climate in these countries.

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“…On the political effect, Costalli et al (2017) showed the economic cost of ethnic fractionalization of 20 war countries that experienced an average annual loss of GDP per capita exceeding 17%. Cebula and Ekstrom (2009) investigated the effect of economic factors OECD countries between 2004 and 2007. Their findings indicated that economic growth increases for higher levels of trade, business and monetary freedom, and protection of property rights.…”

Section: Literature Reviewmentioning

confidence: 99%

Role of Social Media in Socioeconomic Development: Case of Facebook

Amrouche

Hababou²

2021

REA

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To study the role of Information and Communication Technology (ICT) on countries’ socioeconomic development, the paper investigates the case of Facebook penetration on improving their standing as measured via GNI per capita PPP (Gross National Income per capita based on purchasing power parity). We use four macro factors categories (political, economic, demographic, and technological) in addition to Facebook penetration per capita in order to measure the potential influence of various factors on the socioeconomic level of countries. While the analyses of ICT effect on development has been the focus of many papers in the past, the specific analysis of social media is scarce. Compared to previous studies investigating social media role, we use a large dataset covering all classes of countries and examine holistically many types of determinants using different models. In addition, we distinguish our paper using the economic classification of countries according to the World Bank. Our study indicates that Facebook penetration has a significant positive role on the socioeconomic level of countries, but such role varies depending on the countries’ classification level. Besides, there is a decreasing marginal effect showing the importance for policy makers to assess the complex dynamic behind the characteristic of each country.

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Joint Impact of the Dimensions of Governance and Economic Freedom on Economic Growth in O.E.C.D. Nations: An Analysis with Controls for Budget Deficits and G8 Status

Cited by 5 publications

References 12 publications

Testing the Governance-Productivity Nexus for Emerging Asian Countries

Testing the Governance-Productivity Nexus for Emerging Asian Countries

Does free trade result in higher GDP per capita: An International Perspective

Role of Social Media in Socioeconomic Development: Case of Facebook

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