Domestic Demand, Export and Economic Growth in Bangladesh: A Cointegration and VECM Approach
Md. Khairul Islam,
Md. Elias Hossain
Issue:
Volume 4, Issue 1, February 2015
Pages:
1-10
Received:
13 January 2015
Accepted:
25 January 2015
Published:
30 January 2015
DOI:
10.11648/j.eco.20150401.11
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Abstract: Using cointegration and error-correction mechanism techniques, this paper investigated the causal relationship between domestic demand, export and economic growth using data pertaining to Bangladesh’s final household consumption and government consumption as a measure of domestic demand, real exports, and real GDP over the period 1971–2011. It is found that final household consumption, final government consumption and export influence short-run and long-run economic growth. Thus, there is a dynamic relationship among domestic demand, export, and economic growth in Bangladesh. Moreover, economic growth in Bangladesh has an impact on its domestic demand and exports in the short-run, but in the long-run economic growth has an impact on final household consumption only.
Abstract: Using cointegration and error-correction mechanism techniques, this paper investigated the causal relationship between domestic demand, export and economic growth using data pertaining to Bangladesh’s final household consumption and government consumption as a measure of domestic demand, real exports, and real GDP over the period 1971–2011. It is f...
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Does the Value of a Statistical Life Vary with Union: Evidence from Tunisian Data
Issue:
Volume 4, Issue 1, February 2015
Pages:
11-17
Received:
21 January 2015
Accepted:
29 January 2015
Published:
3 February 2015
DOI:
10.11648/j.eco.20150401.12
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Abstract: This paper measures the value of a statistical life for union and nonunion workers. To avoid the problem of a selectivity biais arising if richer people choose safer jobs, we consider risk as an endogenous variable. The endogeneity of job risk implies that ordinary least squares estimates of the wage equation may be biased and this should be corrected. Accordingly, we use instrumental variables techniques. Using original data from “la Caisse nationale de la sécurité sociale”, we found that organizing workers in union generates a value of statistical life at least two times higher than for non-union workers (344,595.2 dinars for non-union and 985,459.7 dinars for union workers). In addition, we found evidence of wage differentials for hazardous work. However, these values of statistical life are much lower than those estimated in developed countries. This study could provide useful results for policymakers to reduce the risk of death in Tunisia.
Abstract: This paper measures the value of a statistical life for union and nonunion workers. To avoid the problem of a selectivity biais arising if richer people choose safer jobs, we consider risk as an endogenous variable. The endogeneity of job risk implies that ordinary least squares estimates of the wage equation may be biased and this should be correc...
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