Ihtisham ul Haq

Tourism, globalization and economic growth: a panel cointegration analysis for selected West African States

This study examined the tourism-led hypothesis for selected 11 countries of Economic Community of West African States (ECOWAS). Panel cointegration technique was employed to inspect long-run relationship between study variables. Results of fully modified ordinary least squares and dynamic ordinary least squares confirmed the positive effect of physical capital, tourism and economic globalization index on economic growth. Thus, tourism-led growth hypothesis exists in ECOWAS. Conversely, negative impact of foreign direct investment on growth was captured.

Energy consumption, tourism development, and environmental degradation in Sri Lanka

ABSTRACT This study examines whether energy consumption and tourism development provide evidence to support the Environmental Kuznets Curve (EKC) hypothesis in Sri Lanka. Results of the study show that carbon emissions, income, tourism development, and energy consumption are cointegrated in the long run. The long-run estimates do not support the presence of the EKC hypothesis in Sri Lanka. Energy consumption adds to environmental degradation in both short run and long run, while tourism development aggravates environmental degradation in the long run. This study recommends that Sri Lanka can reduce environmental degradation without hindering its economic growth; however, it has to increase energy production from renewable resources as the country’s location provides suitable alternatives for energy production in the form of tide and wind energy in the coastal provinces, while the central provinces offer suitable sites for small hydro-electric projects.

Does export variety determine economic growth in Pakistan

ABSTRACT This study explores the impact of export variety on economic growth in Pakistan. Export variety is decomposed into export related (within sector) and unrelated variety (between sectors) to examine the long run effect of export related variety and unrelated variety on economic growth. For this purpose, we incorporated export related variety and unrelated variety into the production function. The result of cointegration test shows that variables of the study are cointegrated in the long run. The result of fully modified ordinary least squares confirms the positive and significant effect of export related variety and unrelated variety on economic growth. Furthermore, the long run estimates show that the magnitude of export related variety is more than export unrelated variety. This study also finds the positive and significant effect of human capital on economic growth in the long run. It can be deduced from the results of the study that a specific sector shock will not disturb the economic pace of Pakistan.

Export Margins, Price and Quantity of Belarus’s Export Growth

Abstract This paper examines the sources of Belarus’s export growth and decomposes export growth into extensive and intensive margins. This study also aims to determine export margins for intermediate and final goods and to determine the price and quantity components of the intensive export margin. In order to achieve the desired objectives, we use two methods for decomposing export growth, the count method and the export shares method. We analyse Belaruss export growth using export data at the HS-6 digit level for the 2004-2014 period. Our results show that Belaruss exports grew mainly due to growth in the price margin during the studied period 2004-2014. However, the extensive margin was important in export growth to some extent. Comparing the growth rate across final and intermediate goods reveals that although the share of final products in Belarus’s exports is not very big (18.9% in 2014), the average annual growth in exports of final products is higher than that of intermediate goods. Our investigation also shows that Belarus produces a wide range of commodities, but the share of the most of these commodities is not large; its exports depend on a restricted range of commodities. Moreover, most of the commodities are exported to Russia and Ukraine. Our results give us reason to assume that finding new markets for their new products is one of the main challenges for developing countries wishing to increase their exports by an extensive margin. This has important implications for how policy makers promote the trade and diversification of exports.