Tax Burden and GDP: Evidence from Frequency Doman Approach for the USA

We employed Breitung and Candelon's (2006) frequency domain approach to investigate the short-and long-run Granger-causality from different tax burden to GDP in the USA for the period 1947:1 –2009:3. The frequency domain analysis shows that current receipts, personal current tax, taxes on production and imports and taxes on corporate income do not Granger-cause GDP, both at the short and high frequency level; however, current tax receipts Granger-cause GDP in the frequency range of (0.9,1.9), corresponding to the cycle of to 3 months to 7 months. These results suggest that when the USA looks forward to rebalancing her GDP, by means of taxation, it is preferable to reconsider the tax structure with a focus on current tax receipts. This is so because by changing the structure of current tax receipts, the USA will be able to earn more revenue, even in the initial stage. However, if the USA decides to increase welfare, with the stability and sustainability of GDP, the policy makers are advised to readjust the tax burden by infusing the changes of the current receipts, personal current tax, taxes on production and imports and taxes on corporate income.Granger causality in frequency domain, GDP, Tax burden

Comparative performance of renewable and nonrenewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: A PVAR approach

In the study, we analyzed the relative performance of RES and NRES on economic growth in European and Eurasian countries in a panel framework. The dynamics of these variables are also analyzed in relation to CO2 emissions. We used PVAR approach for analysis for the period 1965 to 2009 and find that growth rate of NRES has negative impact on the growth rate of GDP and also increase CO2 emissions. The imapct of RES, in general, is found to be positive on the growth rate of GDP. Hence, we recommend the reduction of the consumption of NRES in order to attain higher economic growth, increase economic efficiency and employment with clean and sustainable environment in Europe and Eurasian countries.Renewable and nonrenewable energy sources, Economic growth, CO2 emissions, PVAR

Corporate governance and economic growth

We estimated the impact of the performance of corporate governance on economic growth in a cross-country framework in two specifications. For analysis we have employed log liner model. We found that performance of corporate governance is significantly negatively related to the economic growth in both specification and in all models and hence it matters not only for the current year but it continues to persistent in future also. Addition to it, we found that role played by human capital is insignificant but physical capital and government final consumption expenditure plays significantly positive role in the economic growth of cross-section of countries. We also find that impact of life expectancy and fertility rate is negative and positive on economic growth respectively. We found that trade does not has significant impact on the economic growth in cross-section of countries.Corporate governance, Economic growth, Cross-country

Economic Growth and FDI in Asia: A Panel-Data Approach

This study examines the impact of foreign direct investment on economic growth in Asian countries. We did our analysis in the panel framework for the period 1986 to 2008. We also examined the nonlinearities associated with foreign direct investment and exports in the economic growth process of Asian countries under consideration. We find that both foreign direct investment and exports enhance the growth process. In addition, labour and capital also play an important role in the growth of Asian countries. We suggest an export-led growth path particularly at the initial stage of growth and in the later period, dependence on FDI might be a feasible option.Growth, FDI, Connection, Effects, Panel analysis

The frequency domain causality analysis between energy consumption and income in the United States

We investigated Granger-causality in the frequency domain between primary energy consumption/electricity consumption and GDP for the US by employing approach of Lemmens et al. (2008) and covering the period of January, 1973 to December, 2008. We found that causal and reverse causal relations between primary energy consumption and GDP and electricity consumption and GDP vary across frequencies. Our unique contribution in the existing literature lies in decomposing the causality on the basis of time horizons and demonstrating bidirectional the short-run, the medium-run and the long-run causality between GDP and primary energy consumption/electricity consumption and thus providing evidence for the feedback hypothesis. These results have important implications for the US for planning of the short, the medium and the long run energy and economic growth related policies.Através do teste de casualidade de Granger, nós investigamos o domínio de frequência entre o consumo primário de energia/eletricidade e o produto interno bruto (PIB) dos Estados Unidos; aplicando a abordagem de Lemmens et al. (2008) e cobrindo o período entre Janeiro de 1973 a Dezembro de 2008. Nós achamos relações causal e causal reversa entre o consumo primário de energia e PIB, e o consumo de eletricidade e PIB variam através das frequências. Nossa contribuição única na literatura existente reside na decomposição da causalidade com base em horizontes de tempo e demonstração bi-direcional de causalidade de curto prazo, médio-prazo e longo-prazo entre PIB e consumo primário de energia/eletricidade e assim provendo evidência para a "feedback hypothesis". Estes resultados têm importantes implicações para o planejamento energértico de curto, médio e longo prazo dos Estados Unidos e políticas relacionadas ao crescimento econômico

Corruption, democracy and bureaucracy

This paper examines the relationship of corruption with democracy and bureaucracy in the 82 countries in a panel framework. For the analysis we use rule of law, regulatory quality, control over corruption and secondary school enrollment ratio as control variables. We find that democracy, rule of law and control over corruption decreases the level of corruption. When we allowed for interaction effect among independent variables we find the evidence of strong interaction effect between all of the explanatory variables. We also find that, surprisingly, higher democracy and rule of law are positively associated with the level of corruption while higher bureaucracy negatively

Defence Expenditure and Economic Growth: Evidence from India

This thesis work presents both mathematical models and a simulation approach to get more insight to the R&D Project Portfolio Execution problem. It gives special care to finding the optimal number of projects to run simultaneously in a portfolio in order to get the maximum monetary gain, and give the factors that affect the most this number. This report tries as well to give the best simulation of resources behaviour inside an R&D department, and takes a stage-gate model for the projects. The proposed mathematical model is a Non-Linear Mixed Integer Program that is hard to solve. A simplification lead to a less complicated Mixed Integer Program that is easier to solve. But in order to have an insight of the whole complexity of the problem, a simulation platform has been implemented. Thanks to its low computation cost, it allowed to have a big number of simulations and draw some conclusions about the initial question. The simulation platform also allows to see the influence of different factors on the number of projects that should be executed in parallel in R &D departments, which was hard to do using the mathematical models.  Detta examensarbete presenterar både matematiska modeller och en simuleringsplattform för att få mer insikt i R & D Project Portfolio Execution problem. Målet är att beräkna det optimala antalet projekt att köra samtidigt i en portfölj och hitta de faktorer som har störst påverkan på detta. Rapporten försöker också att ge den bästa simuleringen av resursersbeteende i R & D avdelningar. Den föreslagna matematiska modellen är ett icke-linjärt Mixed Integer Program som är svårt att lösa. En simplifiering leder till en mindre komplicerad Mixed Integer Program som är lättare att lösa, men för att få en inblick i hela problemets komplexitet har en simuleringsplattform implementerats. Tack vare dess låga beräkningskostnad, är det möjligt att köra ett stort antal simuleringar och dra vissa slutsatser om den inledande frågan. Användandet av en simuleringsplattform gör det också möjligt att se påverkan av olika faktorer på antalet projekt som ska köras parallellt i R & D -avdelningar, som hade varit svårt att göra med matematisk modellering