Posted on 15 December 2013.
The paper investigates the long-run relationship between government expenditures and a set of macroeconomic variables (GDP, consumer price index and unemployment) using annual data collected from CBN statistical bulletin for a period of 19891 to 2011. It particularly adopts Johansen multivariate co integration for its estimation procedure and discovers that there is long-run relationship between government expenditure and the specified macroeconomic variables. It also discovers that an increase in capital expenditure improves economic bliss, while recurrent expenditure is detrimental to growth. Finally, our findings show that most of the variables do not Granger cause each other, but however, recurrent expenditure Granger causes prices, in the same veil capital expenditure does granger cause unemployment.
Macroeconomic Variables and the Dynamic Effect of Public Expenditure: Long-term Trend Analysis in Nigeria (477.4 KiB, 130 hits)
Posted in Economics, Volume III, Issue no. 6
Posted on 15 February 2012.
The term “Econophysics” was used for the first time by Eugene Stanley (physicist) in 1995 and represents the name of a rather new research domain that tries to apply the modeling standards in statistical physics to the more complicated world of economics and finance. This approach seems to be kind of appropriate and that because Economics is about people and refers to individuals. In this kind of respect we have to say that in a certain economic environment there are a lot of individuals existing, working and making commerce, so they may very much be assimilated with a system composed of a really big number of “particles” and obey to the same mathematical laws used to describe the time-behavior of such a system. In this article we use thermodinamics and statistical physics approach to describe some economic processes.
Econophysics - related Remarks in Considering the Necessity of a Distribution Adjustment in the Eurozone Real Economy and Re-modeling its Financial System and Markets. Thermodynamics and Statistical P (832.0 KiB, 376 hits)
Posted in Economics, Knowledge Management, Volume II, Issue no. 1
Posted on 15 October 2011.
Through our study we aim to highlight the place and role of the Romanian industry in the national economy and its impact on employment in the last twenty years. Moreover, we intend to underline the regional gaps determined by the role and place of the industry at regional level. The results of our analysis carried out based on the statistical data between 1990 and 2009, show, on the one hand, the deindustrialization of the economy based on the reduction of the industry’s contribution to GDP as well as to civil employment, and on the other hand, the negative impact that the industry’s evolution had on employment. For the industry to generate new jobs and sustainable economic growth, we consider that it is necessary to turn our industry into a more efficient one and to increase its adaptability to the market’s demands.
The results of this paper consist of original heterodox methods presented, intuitive or developed that can be found conclusively within the key proposals for education and regulation.
The Impact Of The Industrial Sector On Romanian Employment (972.2 KiB, 734 hits)
Posted in Economics, Issue no. 6
Posted on 15 February 2011.
Unemployment in Romania during the crisis has increased significantly from 7.2% in March 2008 to 10.1% in March 2010. To cover the debt caused by the economic crisis in Romania, the Government has fired over 100,000 employees, but also in the private sector have been fired over 150,000 workers. To combat unemployment there are 3 methods, but in many cases, these measures do have the effect of increasing the number and intensity of labor market barriers, increasing unemployment.
Unemployment in Romania during the crisis (233.2 KiB, 979 hits)
Posted in Economics, Issue no. 2