Gross Domestic Product Analysis per Capita in High, and Upper and Lower Middle, Income Countries and the Effect of Policy Implementation
Article Sidebar
Main Article Content
Abstract
The objectives of this research were 1) to compare the trend of gross domestic product growth (GDP) per capita in high, and upper and lower middle, income countries to illustrate the development trend and policy recommendation, and 2) to study the policy implications of driving GDP growth per capita and the economic empowerment in their countries. The samplings of six countries were collected, being the retrospective data for 16 years from 2000 to 2015 and there were 96 observations. Panel data analysis include the random effect regression model. Analysis of inferential statistics is multiple regression and structural equation modeling. The findings revealed that the country with high GDP per capita is Myanmar, followed by Thailand. Result of multiple regression analysis was found that the variables were positively related to GDP growth per capita, including total population, female population aged 80 and above, adolescent fertility rate, population aged 35-39, forest area, and urban population growth. The variables that were negatively related to GDP growth per capita were the rural population growth and agricultural land. The results of the structural equation modeling analysis revealed that the adolescent fertility rate and urban population growth were directly related to female population aged 80 and above, forest area, and agricultural land. They were indirectly related to GDP per capita but in negative direction. Meanwhile, unemployment and rural population growth were directly related to female population aged 80 and above, forest area, agricultural land, and GDP per capita but indirect relationship. In addition to, female population aged 80 and above, forest area, and agricultural land were directly related to GDP per capita but in negative direction.
Article Details
References
พลภัทร บุราคม. (2554). รายจ่ายสาธารณะ ประสิทธิภาพในการจัดสรรและประสบการณ์ระหว่างประเทศ (3 ed.). สมุทรปราการ: บรัษัท ดี.เค. ปริ้นติ้งเวิลด์ จำกัด.
Bucci, A., & Raurich, X. (2017). Population and Economic Growth under Different Growth Engines. German Economic Review, 18(2), 182-211.
Calkins, P. (2009). Sufficiency Economy Matrices: Multi-period Optimization for Local Development Planners. Journal of Economics and Management, 5(2), 305-332.
Choi, J., & Son, M. (2016). A Note on the Effects of Government Spending on Economic Growth in Korea. Journal of the Asia Pacific Economy, 21(4), 651-663.
Dao, M. Q. (2014). Female Labor Force Participation in Developing Countries. Economia Internazionale/International Economics, 67(3), 337-350.
Dudel, C., & Myrskyla, M. (2017). Working Life Expectancy at Age 50 in the United States and the Impact of the Great Recession. Demography, 54(6), 2101-2123.
Fagan, G., Gaspar, V., & McAdam, P. (2016). Immanuel Kant and Endogenous Growth Theory. Scottish Journal of Political Economy, 63(5), 427-442.
Farsio, F., & Quade, S. J. H. (2003). An empirical analysis of the relationship between GDP and unemployment. 19(3), 1-6.
Hajamini, M. (2015). The Non-linear Effect of Population Growth and Linear Effect of Age Structure on Per Capita Income: A Threshold Dynamic Panel Structural Model. Economic Analysis and Policy, 46, 43-58.
Hassan, A. F. M., Salim, R., & Bloch, H. (2011). Population Age Structure, Saving, Capital Flows and the Real Exchange Rate: A Survey of the Literature. Journal of Economic Surveys, 25(4), 708-736.
Kemp, R., & Never, B. (2017). Green Transition, Industrial Policy, and Economic Development. Oxford Review of Economic Policy, 33(1), 66-84.
Kurz, H. D. (1997). What Could the 'New' Growth Theory Teach Smith or Ricardo? Economic Issues, 2(2), 1-20.
Lin, Y.-H., & Chen, W.-Y. (2018). On the Relationship between Business Cycle and Fertility Rate in Taiwan: Evidence from the Nonlinear Cointegration Methodology. Romanian Journal of Economic Forecasting, 21(1), 140-156.
Ozerkek, Y., & Celik, S. (2010). The Link between Government Spending, Consumer Confidence and Consumption Expenditures in Emerging Market Countries. Panoeconomicus, 57(4), 471-485.
Saksiriruthai, S. (2017). Sufficiency Economy as the Concept for Value Chain Process Improvement: Evidence from Thailand. Actual Problems of Economics, 192(6), 93-100.
Salvati, L. (2018). Population Growth and the Economic Crisis: Understanding Latent Patterns of Change in Greece, 2002-2016. Letters in Spatial and Resource Sciences, 11(2), 105-126.
Siah, A. K. L., & Lee, G. H. Y. (2015). Female Labour Force Participation, Infant Mortality and Fertility in Malaysia. Journal of the Asia Pacific Economy, 20(4), 613-629.
Sommer, U. (2018). Women, Demography, and Politics: How Lower Fertility Rates Lead to Democracy. Demography, 55(2), 559-586.
Son, Y. J. (2018). Do Childbirth Grants Increase the Fertility Rate? Policy Impacts in South Korea. Review of Economics of the Household, 16(3), 713-735.
Whitaker, J. K. (2001). Henry George and Classical Growth Theory: A Significant Contribution to Modeling Scale Economies. American Journal of Economics and Sociology, 60(1), 11-24.
Zhang, W.-B. (2018). Economic Growth and Inequality with Tourism in an Integrated Walrasian-General Equilibrium and Neoclassical-Growth Theory. Zagreb International Review of Economics and Business, 21(1), 17-35.
Translated Thai References
Kamolpun Punpuing, & Suphaphan Katekum. (2017). Silver Economy and the Implication for Disability-Related Development Work in Thailand. Retrieved from http://www.rs.mahidol.ac.th/ncpd-2017/2017/Full-Paper/009.pdf
Ponlapat Buracom. (2011). Public Spending: Allocative Efficiency and International Experiences (3 ed.). Samutprakarn: D. K. Printing World Co., Ltd.