Sustainable urban infrastructure
S.Sh. Hossain; H. Delin; M. Mingying
Abstract
BACKGROUND AND OBJECTIVES: Tariff policy has a significant impact on a country's economic progress. The primary objective of this paper was to describe the construction of the Computable General Equilibrium (CGE) model and then analyze the economic impacts among simulated countries by introducing policy ...
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BACKGROUND AND OBJECTIVES: Tariff policy has a significant impact on a country's economic progress. The primary objective of this paper was to describe the construction of the Computable General Equilibrium (CGE) model and then analyze the economic impacts among simulated countries by introducing policy shocks like increases and decreases in tariffs. METHODS: Tariff reductions resulted in an increase in intraregional and interregional trade, which is expected to spur long-term investment and economic growth. To examine the economic implications in multiple ways, this article initially used a tariff removal scenario and subsequently increased the tariff. The relationship between production, activity, elements, and other economic sectors of regions was depicted in this paper using a computational general equilibrium model based on the global trade analysis project model. FINDINGS: The simulation resulted in a lower tariff having a beneficial influence on Korea's economic growth compared to other countries. In the agricultural and processed food sectors, Korea's trade balance improved dramatically, with exports and imports continuing high, while exports and imports in the manufacturing and service sectors declined. In contrast to other countries, Korea's processed food output surged by 198%. Finally, in comparison to other countries, Korea's welfare grew by $ US currency 17.56 billion. On the other hand, the trade balance between China and the United States fell by $US currency 6.25 billion and $US currency 7.95 billion, respectively. Korea's trade balance increased considerably, rising by $ 21.78 billion in US currency. Korea's GDP fell by about 0.8%, while China's dropped by nearly 0.3%. Other countries' gross domestic product changed slightly. CONCLUSION: The influence of various tariff policies on countries is examined in this research paper. Computational general equilibrium analysis of tariff policies in the agriculture, processed food, infrastructure, manufacturing, and service sectors has gotten little attention in the past, so this paper used the Global trade analysis project model to try to fill in the gaps and find the benefits of mutual economic policy among countries.
Sustainable urban infrastructure
S.Sh. Hossain; H. Delin
Abstract
BACKGROUND AND OBJECTIVE: The reduction of tariffs in Public infrastructure sectors is believed to be one of the key factors in addressing the socio-economic challenges of high unemployment, income inequality, and poverty. The primary objective of this paper is to design a general equilibrium model for ...
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BACKGROUND AND OBJECTIVE: The reduction of tariffs in Public infrastructure sectors is believed to be one of the key factors in addressing the socio-economic challenges of high unemployment, income inequality, and poverty. The primary objective of this paper is to design a general equilibrium model for infrastructural sectors among Germany, France, Italy, United Kingdom, China, USA, Australia, Japan and Korea, and evaluate potential economic impact of tariff reduction. METHODS: The research method of this paper was to construct a Computational General Equilibrium model to assess the economic effects. The global trade analysis project model was calibrated and discussed in this paper. The global trade analysis project database was used to validate the model. FINDINGS: Simulation result showed that tariff removal in infrastructure has the most significant effects in China, Japan, and Korea’s economic growth and employment than other countries. Gross Domestic Product, output price, and social welfare increase significantly in China compared to other countries. Gross Domestic Product increases in China by 616%, decreases in Japan and Korea 77% and 7% after mutual tariff reduction on infrastructure sectors. Meanwhile, China’s export on infrastructural sector increases by 1.71%, Japan and Korea’s export increases by 0.75% and 0.05%. On the other hand, export decreases in Germany, France, Italy, UK, USA and Australia. Finally, social welfare increases in China by $2.26 billion and Japan by $239 million. CONCLUSION: The presence of tariff reduction in infrastructure sectors will likely strengthen the market share of most of the simulated regions. These findings may provide policy-makers with crucial information for better understanding about new tariff policy. Computable General Equilibrium analysis in infrastructure sectors had paid little attention in past and this paper tries to fill the gaps and attempts to find the benefit of mutual tariff policy among countries based on global trade analysis project model.
Urban ecology and related environmental concerns
C. Belford; D. Huang; E. Ceesay; Y.N. Ahmed; L. Sanyang; R.H. Jonga
Abstract
BACKGROUND AND OBJECTIVES: Climate change is one of the existential threats of modern times, which deserves urgent attention by policymakers. The objective of this paper is to comprehend the impact of climate change on the Gambian economy both in the short and long-run. METHODS: This paper analyses time ...
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BACKGROUND AND OBJECTIVES: Climate change is one of the existential threats of modern times, which deserves urgent attention by policymakers. The objective of this paper is to comprehend the impact of climate change on the Gambian economy both in the short and long-run. METHODS: This paper analyses time series data from 1969 to 2016. The study incorporated rainfall and temperature as proxies of climate change into the Cobb-Douglas production function. The Augmented Dickey-Fuller and the Phillips-Perron stationarity test for unit root found that the growth rate of rainfall is not statistically significant with the Mackinnon approximate p-value for z (t) =0.2306. The first lag is significant at 5% and 10% but has a negative coefficient in the first differential up to the fourth lag. In contrast, the growth rate of temperature is statistically significant with a p-value of 0.0196. FINDING: The findings revealed that human capital growth is not significantly related to economic growth in The Gambia. In the long-run, the growth rates of climate change variables are all statistically significant and associated with a negative impact on economic growth. For the short-run, the lag difference of rainfall against its own lag is statistically significant and has a positive impact on economic growth. The lag difference in the growth rate of the Gross Domestic Product is not statistically significantly related to the growth rate of rainfall. CONCLUSION: The Gambia is vulnerable to climate change shocks, consequently climate change will negatively impact economic growth resulting in high unemployment, low productivity, and high poverty rate.
C. Belford; D. Huang; E. Ceesay; Y.N. Ahmed; R.H. Jonga
Abstract
West Africa is vulnerable to the effects of climate change. This paper analyzed the impacts of climate change on economic growth in Anglophone West Africa with similar background, during the periods 1969-2016. Five growth model equations have been developed to incorporate climate change variables into ...
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West Africa is vulnerable to the effects of climate change. This paper analyzed the impacts of climate change on economic growth in Anglophone West Africa with similar background, during the periods 1969-2016. Five growth model equations have been developed to incorporate climate change variables into the model. Panel data estimations such as the fixed effect model, random effect model and Hausman test were used. The results generated show that four equations required the use of the fixed effect, the agriculture equation model required the use of the random effect model. In the fixed effect models, the results show that the growth of human capital has a negative (-0.08 and -0.23) and significant (0.09* and 0.023*) impact on the growth rate of the services and manufacturing sectors. In Anglophone West African countries, the growth rate of the agriculture sector and temperature are statistically significant (0.008 ** and 0.089*) and have a negative impact (-2.04 and -17.7) on the growth rate of GDP. In the random effect model for agriculture, the growth rate of rainfall has the highest impact on the growth of agriculture in Anglophone West Africa than the impact of temperature on the region. Lack of sufficient rainfall reduces the growth of the agriculture sector. In relative terms, change in rainfall pattern is more harmful to agriculture in comparison to the change in temperature in this region. The consequences of climate change in the region are sluggish economic performance and growth, underdevelopment, poverty, and human misery.