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Article
Publication date: 6 June 2016

Abdul-Rasheed Amidu, Alirat Olayinka Agboola and Mahmud Musa

The paper aims to provide a better understanding of the interactions between housing investment and economic growth. In particular, the paper emphasizes the separate effects of…

Abstract

Purpose

The paper aims to provide a better understanding of the interactions between housing investment and economic growth. In particular, the paper emphasizes the separate effects of private housing investment (PHI) on the aggregate economy using quarterly data in the UK from 1974 to 2015. This is important due to the relatively growing interest around the world, including the UK, in encouraging greater private housing investment as a way of boosting economic growth.

Design/methodology/approach

The paper used the widely accepted and recognized econometric concepts of unit root, Granger causality and co-integration and provides tentative quantitative evidence of the causal and predictive effect of PHI and economic growth.

Findings

The key finding is that the level of investment directed by individual and institution into the private housing sector is key to future development, and will strongly reduce economic performance volatility.

Research limitations/implications

Given that this is a bivariate time series analysis of PHI and economic growth (proxy by gross domestic product), the conclusions of this paper need to treated with caution, as there are other potential variables that might be omitted to make the model more robust so as to reach a more conclusive result.

Originality/value

This study complements existing literature, not only by providing new empirical evidence on the nexus between housing markets and the business cycle but also by being the pioneering attempt at examining the impact of PHI on the economy in the UK.

Details

International Journal of Housing Markets and Analysis, vol. 9 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 5 March 2018

Viktoria Dalko and Michael H. Wang

The purpose of this paper is to study the mutual disruption and support of economic growth and health improvement in the last 500 years in the UK.

Abstract

Purpose

The purpose of this paper is to study the mutual disruption and support of economic growth and health improvement in the last 500 years in the UK.

Design/methodology/approach

The paper is a general review and it compares institutional development, public policy, technological advances and scientific discoveries in economic growth with those in health improvement.

Findings

The paper finds the co-existence of slower economic growth and less increasing life expectancy from 1541 to 1871 and that of faster economic growth and rising life expectancy from 1871 to 2001. It is organized health improvement that effectively propelled economic growth in the time span of 1871-2001.

Research limitations/implications

The findings may contribute to the literature on mutual enhancement between economic growth and health improvement.

Practical implications

The findings may also provide implications to the policy makers how important organized health improvement is to economic growth.

Social implications

The findings show that when UK Government was leading in organized health improvement for the population, economic grown got propelled into a faster lane.

Originality/value

This paper is among the first to unveil that a socially responsible government has permanent impact on the paths of both economic and social growth. It has value to other researchers attempting to understand the mutual disruption and support of economic growth and health improvement in the historical UK.

Details

International Journal of Social Economics, vol. 45 no. 3
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 5 January 2024

Imran Khan

The paper aims to analyse the impact of economic and governance factors on remittance inflows to India from the UK, USA and UAE. India is globally recognised as the largest…

Abstract

Purpose

The paper aims to analyse the impact of economic and governance factors on remittance inflows to India from the UK, USA and UAE. India is globally recognised as the largest recipient of remittances.

Design/methodology/approach

Using a comprehensive time series data set spanning 1996 to 2022, the authors use an innovative non-linear autoregressive distributed lag model approach to examine the influence of economic growth, corruption control and employer availability in the three source countries on remittance inflows to India.

Findings

The results indicate that in the UAE, changes in economic growth and corruption control directly affect remittance outflows. However, the presence of employers in the UAE has minimal impact on remittance outflows to India. Regarding the UK, fluctuations in economic growth primarily drive remittance outflows to India. The effect of corruption control and employment opportunities on remittance outflows is marginal. In the USA, economic growth does not notably impact remittance outflows, whereas corruption control and employment opportunities significantly influence the outflows to India.

Originality/value

These findings have important implications for policymakers. Analysing macroeconomic factors from key remittance-sending nations offers valuable insights for Indian policymakers and their international counterparts to enhance remittance inflows. The study focuses on three countries that collectively contribute to about 50% of India's remittances, providing a unique contribution compared to the usual country-specific or regional focus in existing literature. Finally, leveraging these findings, NITI Aayog, an organisation dedicated to achieving India's sustainable development goals, can effectively monitor macroeconomic indicators related to significant remittance-sending countries.

Details

Journal of Financial Economic Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 1 April 1989

Alan C. McKinnon

The volume of road freight movement in the UK has more than doubledover the past 25 years and its present growth is considerably exceedingofficial forecasts made in 1984. An…

Abstract

The volume of road freight movement in the UK has more than doubled over the past 25 years and its present growth is considerably exceeding official forecasts made in 1984. An attempt is made to explain why this growth has occurred, taking account of the close relationship between tonne‐kilometres and economic growth and outlining several spatial processes likely to have contributed to freight traffic growth. The spatial concentration of economic activity is identified as the dominant influence. The growth process appears to have undergone a major change during the 1980s, with the increase in average length of haul easing and the earlier downward trend in freight tonnage being sharply reversed. The implications of these recent trends for future freight traffic growth are discussed and an assessment made of the likely impact of the Channel Tunnel and deregulation of international haulage on the volume of road freight movement in the 1990s.

Details

International Journal of Physical Distribution & Materials Management, vol. 19 no. 4
Type: Research Article
ISSN: 0269-8218

Keywords

Article
Publication date: 6 May 2014

Godfrey Chidozie Uzonwanne

– The purpose of this study is to propose a framework for conceptualizing the finance-growth theory in developing economies.

Abstract

Purpose

The purpose of this study is to propose a framework for conceptualizing the finance-growth theory in developing economies.

Design/methodology/approach

The study uses a cointegration and error correction model to investigate the possible influence of key socio-political characters of a state on the causal relationship between financial development and economic growth. A developing economy (Nigeria) which had experienced decades of autocratic military governance was studied. Three characters of the state (ethnicity, civil war and military governance) were derived from a historical review and were introduced into the cointegration analysis as dummy variables.

Findings

Evidence of a causal relationship was found to exist from financial development to economic growth and the characters of the state were found to have no significant impact on this relationship.

Research limitations/implications

The research limitations were based on the reliability of data recorded between 1960 and 2007.

Practical implications

This study is practical from the point of view of the integration of qualitative social disturbances into a quantitative model targeted at exploring the practical developmental impact these disturbances may have had and continue to have on economic growth.

Social implications

The social implication of this study stems from the impact that adverse socio-political influences may have on financial development and economic growth.

Originality/value

This is an original piece of research focused at understanding the unique social, political and macroeconomic circumstance of a strategically relevant developing economy.

Details

International Journal of Social Economics, vol. 41 no. 5
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 April 2018

Suhail Abboushi

This paper aims to examine the early aftermath of Britain’s Referendum to leave the European Union. The study addresses three areas: British public opinion and sentiment with…

2296

Abstract

Purpose

This paper aims to examine the early aftermath of Britain’s Referendum to leave the European Union. The study addresses three areas: British public opinion and sentiment with regard to Brexit, Britain’s economy and outlook, and migration.

Design/methodology/approach

The study is exploratory in nature, examining data and information available in a variety of public sources that include government statistics, media reports and scholarly research findings.

Findings

Analysis of published data and research studies suggest growing disenchantment among the public with regard to Brexit and its consequences, economic and cultural influences on the Referendum, economic uncertainty and potential deterioration, and opposition to and moderation in migration.

Research limitations/implications

The study has not generated original survey data about economic and demographic variables that would make possible statistical analysis of hypothesis.

Originality/value

Recent political developments in developed Western societies point to a rise in popular dismay with globalization, regional integration and multiculturalism. The present study explores and identifies some of the reasons for the trend and the potential consequences to breaking up cross-national alliances as they pertain to the United Kingdom in particular. Similar studies may alert policy makers to the causes and potential economic and political consequences of de-globalization.

Details

Journal of International Trade Law and Policy, vol. 17 no. 1/2
Type: Research Article
ISSN: 1477-0024

Keywords

Book part
Publication date: 25 March 2021

Léon Consearo

Purpose: This chapter aims to analyse the current literature on the supply and demand for skills in the UK labour market to identify key trends and themes around skill mismatch…

Abstract

Purpose: This chapter aims to analyse the current literature on the supply and demand for skills in the UK labour market to identify key trends and themes around skill mismatch, identify gaps and areas for future research.

Method: Selected articles were analysed to identify key themes and trends in the existing literature.

Findings: The overall finding is that the UK labour market suffers from various forms of widespread skill mismatch, but most particularly in the form of skill shortage. The areas with the most notable skill shortage highlighted in the literature include basic literacy, numeracy and digital; employability including leadership and management; STEM and health-related areas; teaching and training and a range of higher-level skills (including leadership and management, digital and creative, and industry-specific skills in STEM and health-related sectors, financial and business services, technology media and telecommunications, as well as teaching and training). Skill mismatch in the form of skill shortages in these areas is projected to worsen considerably by 2030, with some areas expected to suffer acute shortages by this time. Continued improvements to the education system will help to ensure the pipeline of future workers. However, changes to the education system are unlikely to impact on 80% of the future 2030 workforce who are already working and active in the UK labour market.

Originality/value of paper: The chapter provides a review of key literature in the field and aggregates key findings, so a wider picture of the extent and nature of the UK's skill mismatch challenge can be appreciated.

Article
Publication date: 1 December 1999

Outi Aarnio

It is commonly argued that many economies must look toward a service‐based future. This article discusses the role of the service sector in generating economic growth and…

1873

Abstract

It is commonly argued that many economies must look toward a service‐based future. This article discusses the role of the service sector in generating economic growth and employment. It is argued that defining, measuring and distinguishing service output as opposed to output of goods has become increasingly difficult, which makes the traditional attempts to define a specific role for the service sector more or less futile. Instead, the diverse activities performed within the service sector form an integral part of a well‐functioning economy as a whole. Moreover, there is nothing inherently “wrong” with service sector jobs: recent experience suggests that the service sector has generated disproportionately both good quality, well‐paid jobs, as well as those in the lowest category. Worrying about the relative size of the service sector helps us little: what matters is each sector’s contribution to overall productivity growth.

Details

Personnel Review, vol. 28 no. 5/6
Type: Research Article
ISSN: 0048-3486

Keywords

Article
Publication date: 7 September 2015

Edward G. Ochieng, Andrew D.F. Price, Charles O. Egbu, Ximing Ruan and Tarila Zuofa

The purpose of this paper was to examine UK shale gas viability. The recent commitment to shale gas exploration in the UK through fracking has given rise to well-publicised…

1246

Abstract

Purpose

The purpose of this paper was to examine UK shale gas viability. The recent commitment to shale gas exploration in the UK through fracking has given rise to well-publicised economic benefits and environmental concerns. There is potential for shale gas exploration in different parts of the UK over the next couple of decades. As argued in this study, if it does, it would transform the energy market and provide long-term energy security at affordable cost.

Design/methodology/approach

Interviews with senior practitioners and local communities were recorded, transcribed and entered into qualitative research software Nvivo. Validity and reliability were achieved by first assessing the plausibility in terms of already existing knowledge on some of the economic and environmental issues raised by participants.

Findings

Findings from this study suggest that environmental, health and safety risks can be managed effectively provided operational best practices are implemented and monitored by the Health and Safety Executive; Department of Energy, Climate Change; and the Mineral Planning Authorities. Participants further suggested that the integration of shale gas technology will protect consumers against rising energy prices and ensure that government does not get exposed to long-term geopolitical risks.

Practical implications

The present study corroborates the position that environmental, health and safety risks can be managed effectively provided operational best practices are implemented and monitored by the Health and Safety Executive; Department of Energy, Climate Change; and the Mineral Planning Authorities.

Social implications

The present study confirms that the government is committed to ensuring that the nation maximises the opportunity that cost-effective shale gas technology presents, not just investment, cheap energy bills and jobs but providing an energy mix that will underpin the UK long-term economic prosperity.

Originality/value

The present study corroborates the position that environmental, health and safety risks can be managed effectively provided operational best practices are implemented and monitored by the Health and Safety Executive; Department of Energy, Climate Change; and the Mineral Planning Authorities. As shown in this study, the UK has a very strong regulatory regime compared to USA; therefore, environmental, health and safety risks will be very well managed and unlikely to escalate into the crisis being envisioned.

Details

International Journal of Energy Sector Management, vol. 9 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 7 August 2018

Kashif Munir and Maryam Sultan

The purpose of this paper is to analyze the impact of taxes on economic growth in the long run as well as in the short run.

Abstract

Purpose

The purpose of this paper is to analyze the impact of taxes on economic growth in the long run as well as in the short run.

Design/methodology/approach

The study uses simple time series model, where real GDP is dependent variable and different forms of taxes are explanatory variables under ARDL framework from 1976 to 2014 at annual frequency for Pakistan.

Findings

Direct taxes have positive relation with economic growth in the long run. Sales tax, tax on international trade (tariffs) and other indirect taxes have positive impact on economic growth of Pakistan in the long run as well as in the short run. However, sales tax and other indirect taxes impact negatively on economic growth in the short run after one year because people realize decline in their real income.

Practical implications

Government should increase direct taxes by increasing tax base. Indirect taxes usually indicate negative impact after one and two years; therefore, government should decrease its reliance on indirect taxes. Government should promote tax awareness among the people which increase the tax morale of people and increase the tax base.

Originality/value

Taxes are disaggregated into direct and indirect taxes, while indirect taxes have been further disaggregated into excise duty, sales tax, surcharges, tax on international trade and other indirect taxes. This study provides useful insight for policy makers in designing taxes and their effect on growth.

Details

International Journal of Social Economics, vol. 45 no. 10
Type: Research Article
ISSN: 0306-8293

Keywords

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