Gross value added

Abstract: The financial and economic crisis has had an adverse impact on the Lithuania’s economy and construction industry. The GDP of Lithuania grew slightly in 2010, in contrast to a decrease of 14.7% in 2009. Lithuania’s GDP increased from 1.3% in 2010 to 4.6% in 2011. Annual GDP growth decreased from its highest point of 6.7%, reached in the third quarter, to 4.4% in the last quarter of 2011 [1,2]. Some industries, such as construction; trade, transport and communications; and the industry sectors were most affected by the crisis. In 2010, the gross value added within the construction sector decreased by 43.3%, and in the trade, transport and communications sector – by 16.6%. In 2011, a positive change in the gross value added was observed in all groups of economic activities. The largest growth in the gross value added was observed in enterprises engaging in construction (by 15%) and trade, transport and communication services (7.3%) [1,3]. The construction sector, one of the engines of economic growth in Lithuania over the last decade, is now facing with serious challenges as companies’ closures, rising unemployment, and postponed or even cancelled investments. These events also have changed the clients’ and construction companies’ behaviour. A reduced demand and shortage of orders dramatically increased a competition between companies of the construction sector. This increased pressure to improve quality, productivity and reduce costs, and the need for project strategies and management that can appropriately and effectively manage project risk.

Abstract: Despite the apparent importance of the "knowledge economy," U.K. macroeconomic performance appears unaffected: investment rates are flat, and productivity has slowed. We investigate whether measurement issues might account for this puzzle. The standard National Accounts treatment of most spending on "knowledge" or "intangible" assets is as intermediate consumption. Thus they do not count as either GDP or investment. We ask how treating such spending as investment affects some key macro variables, namely, market sector gross value added (MGVA), business investment, capital and labor shares, growth in labor and total factor productivity (TFP), and capital deepening. We find: (a) MGVA was understated by about 6 percent in 1970 and 13 percent in 2004; (b) instead of the business investment/MGVA ratio falling since 1970 it has been rising; (c) instead of the labor share being flat since 1970 it has been falling; (d) growth in labor productivity and capital deepening has been understated and growth in TFP overstated; and (e) TFP growth has not slowed since 1990 but has been accelerating.

Abstract: This paper investigates the relationship between economic growth and energy consumption using the hypothesis postulated for the Energy-Environmental Kuznets Curve, which assumes an inverted-U shape relationship between income and energy consumption. Panel data for 22 Latin American and Caribbean countries for the period 1990–2011 were used. Absolute energy consumption was chosen as an environmental pressure indicator, because energy consumption is the major contributor of emissions pollutants. The results obtained in the estimations show that the hypothesis postulated for the Energy-Environmental Kuznets Curve is not supported for the region. On the contrary, the results show an exponential growth as Gross Value Added grows. Also, notable differences are shown between the analyzed economies.

Abstract: The paper analyses the linkages between GDP per capita, greenhouse gas (GHG) emissions, and renewable energy (RE) in the total final energy consumption and green investments (PICE) which are measured as private investments, jobs, and gross value added related to circular economy sectors. The object of the analysis is the EU countries during the 2008-2016 period (crisis and post-crisis period). In the paper, data from the following databases was used: the Eurostat, the World Data Bank, and the European Environmental Agency. For addressing the linkages between the aforementioned indicators, the following methods were applied: panel unit root test, Pedroni panel cointegration tests, and the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) panel cointegration techniques. The findings show that FMOLS and DOLS demonstrate the same results as GHG, PICE, RE influence on GDP of the EU countries. The findings prove there is linking between gross domestic product per capita, greenhouse gas emissions, renewable energy in the total final energy consumption and green investments. The findings also show that green investment (PICE) could provoke the growth of GDP per capita by 6.4%, the decline of GHG by 3.08%, and the increase of renewable energy in the total final energy consumption by 5.6%.