世界経済・社会統計 = World development indicators

Sustainable Development Goals

An Analysis of Robert E. Lucas Jr.'s Why Doesn't Capital Flow from Rich to Poor Countries?

This study investigates the dynamic causal relationships among carbon emissions, financial development, economic growth, and energy consumption for Gulf Cooperation Council (GCC) countries from 1980 through 2011. Annual time series data and an autoregressive distributed lag (ARDL) model are used. The main contribution of this paper is that it has investigated the causes of carbon emissions by taking into account the role of financial development and economic growth in GCC countries. The results suggest long-run and causal relationships among carbon emissions, financial development, gross domestic product (GDP), and energy use in all GCC countries except United Arab Emirates (UAE). Moreover, there is long-run unidirectional causality running from carbon emissions to energy use in the case of Saudi Arabia, UAE, and Qatar. Furthermore, a one-way causal relationship from financial development to carbon emissions in the context of UAE, Oman, and Kuwait is found. The evidence suggests that financial systems should take into account environmental aspects in their current operations in these countries. The results of this study may be of great importance for policy and decision makers in developing energy policies for GCC countries that contribute to curbing carbon emissions while preserving economic growth.

CO2 emissions, energy consumption, economic growth, and financial development in GCC countries: Dynamic simultaneous equation models

現場報告 南太平洋大学(The University of the South Pacific)の現状

http://tkjayaraman.com/docs/2009/journals/2009_Journal%20of%20Policy%20Modeling%20Jayaraman%20and%20Lau%20article.pdf

Does external debt lead to economic growth in Pacific island countries

http://www.tkjayaraman.com/docs/2009/2009%20_Growth%20and%20Oil%20Price%20in%20PICS%20from%20JOURNAL%20OF%20ENERGY%20POLICY_37_2182-2189.pdf

Growth and oil price: a study of causal relationships in small Pacific Island countries

*T.K. Jayaraman is Associate Professor of School of Economics, Faculty of Business and Economics, The University of the South Pacific, Fiji Islands. The views presented in this paper are those of authors and do not necessarily reflect the views of The University of the South Pacific, fiji, ARTNeT members, partners and the United Nations. An earlier version of the paper was released in USPSE Working Paper Series, No. 2006/32 and a revised and edited version of this paper is forthcoming in

/pdf/foreign-direct-investment-and-employment-creation-in-pacific-t9o3ght7nv.pdf

Foreign direct investment and employment creation in Pacific Island countries: an empirical study of Fiji

During the 2003 Annual meeting of Pacific Forum leaders from the 16 member states (14 Pacific Islands and two advanced countries in the region, namely Australia and New Zealand) held in Auckland, an idea of a single currency for the region was mooted. The single currency was indicated to be the Australia dollar. The success of any efforts for achieving such a form of integration depends on the degree of economic convergence of national economies. There are two aspects of convergence: nominal and real. They cover exchange rates, growth rates and inflation rates. Unless there is a high degree of convergence in these spheres, the costs of any premature integration could be disastrous. The objective of this paper is to investigate whether there exists any case at present for a currency union. The paper undertakes an empirical investigation, reports the results and presents some conclusions.

Are the Pacific Islands Ready for a Currency Union? An Empirical Study of Degree of Economic Convergence

Interest rate spreads (IRS) have been observed to be relatively high in the Fiji and other Pacific Island Countries (PICs) when compared to the ones prevailing in developed countries. The chief reason behind high IRS in PICs has been argued to be the presence of high intermediation costs, reflecting the weaknesses and inadequacies of their financial sectors. Despite the ongoing financial sector reforms, which are aimed at enhancing competition, the spread, instead of narrowing down, has been either stagnant or growing. This paper examines the factors behind the high IRS spread in Fiji. Based on data released under the mandatory annual disclosure statements of commercial banks required under the Banking Act 1995, the paper examines the trends of IRS from 1999 to 2002, and advances reasons for the high spread.

http://tkjayaraman.com/docs/2005/2005_Why%20is%20Interest%20Rate%20Spread%20High%20in%20Fiji.pdf

Tiruvalangadu K. Jayaraman

Papers

Does external debt lead to economic growth in Pacific island countries

Growth and oil price: a study of causal relationships in small Pacific Island countries

Foreign direct investment and employment creation in Pacific Island countries: an empirical study of Fiji

Are the Pacific Islands Ready for a Currency Union? An Empirical Study of Degree of Economic Convergence

Why Is Interest Rate Spread High in Fiji?: Results from a Preliminary Study