Economic Growth of Asia Pacific Countries

What Factors Are Important?

Authors

DOI:

https://doi.org/10.25079/ukhjss.v2n1y2018.pp52-60

Abstract

This empirical study examines the determinant of economic growth among Asia Pacific countries. While many other studies focused on specific economies with particular determinants identified from previous studies, this study expands the boundaries of countries to examine different factors that are expected to affect the economic growth in Asia Pacific countries. Estimation results of this study are based on the analysis of a panel data for the period 1994–2011. The impact of total population, industry share of GNI, interest rate, gross fixed capital formation, and tax rate are statistically examined to be strongly significant for the whole sample. In the case of government expenditure and trade openness, they are examined to be significant to some degree. Finally, though human capital is expected to be the main driver of economic growth, the result from correlation analysis revealed that there is a high correlation between expenditure on education and health. To show the impact of human capital on economic growth in Asia Pacific countries, estimation with years of schooling may enhance the study instead of using expenditure on education and health.

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Author Biographies

  • Nabaz T. Khayyat, Kurdistan Business School, University of Kurdistan Hewler, Erbil, Kurdistan region - F.R. Iraq

    Nabaz T. Khayyat is an Engineering Economist, an assistant professor of Economics at the department of Business and Management Sciences (University of Kurdistan Hewler) and a dissertation advisor and a member of external faculty at the University of Liverpool, School of Business, UK. Dr. Nabaz has received two PhDs, first in economics, from Swiss Management University, Zurich, Switzerland, and a second PhD with an MSc in IT Engineering from Seoul National University, College of Engineering, South Korea. In his first PhD thesis, he developed a new model to determine the energy demand in the industrial sector for South Korea using a relatively new methodology in the production risk literature. His second PhD Thesis identified the causal relationship between ICT investment and energy use and its impact on productivity in the industrial sector. Where he developed a new productivity model by adding ICT capital as a quasi-fixed factor of production using again a relatively new methodology called a dynamic factor demand model. [See Academic Profile]

  • Sherwan Kafoor, Directorate of Quality Assurance and Accreditation, University of Kurdistan Hewler, Kurdistan Region - F.R. Iraq

    Dr. Sherwan Kafoor, assistant professor and director of quality assurance at UKH completed his MSC and Ph.D. degree from the University of Wales, Aberystwyth, UK in the field of chemistry of minerals "Iron and Aluminium oxides and Oxyhydroxides”. He joined Brunel University in 1994, worked, studied and completed his second MSc degree in 1997 in the field of Environmental Pollution Science with Legislation and management. Sherwan became an Environmental Pollution Expert, he continued his managerial career for years until his homecoming in 2010 to Kurdistan to join the Ministry of Higher Education and Scientific Research as a Director of Quality Assurance and Accreditation. In addition to his QA job, Sherwan was lecturing Clay Mineralogy in the Department of Soil Science, University of Salahaddin. He has 9 published scientific papers, he is also expert in landfill and recycling management. He Joined UKH on 1st of August 2016 as Director of Quality Assurance and Accreditation. He also teaches geochemistry and Environmental Pollution Science at the Department of NREM, UKH. Sherwan is the Editor-in-chief of two journals; UKHJSS and UKHJSE.

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Published

2018-06-30

Issue

Vol. 2 No. 1 (2018): ISSUE TWO

Section

Research Articles

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How to Cite

Economic Growth of Asia Pacific Countries: What Factors Are Important?. (2018). UKH Journal of Social Sciences, 2(1), 52-60. https://doi.org/10.25079/ukhjss.v2n1y2018.pp52-60