During the year of 2008, the world has experienced historically high oil prices reaching an all time high of 147 USD per barrel in midsummer. The extreme volatility of what is consider the number one source of energy reopened discussions about energy sustainability and the plausible effects of an oil shock in the global economy.   How reliable oil price is as an economic variable predicting fluctuations in GDP growth remains controversial. Several models have been developed by scholars targeting different relations between oil price and GDP growth, from its effects on stock markets to its effect to unemployment. The authors extended the model of Mork & Olson (1994) since it focuses on the consequences that an oil shock effect on GDP growth. The model is extended from 1993 to the third quarter of the year 2008 in order to draw conclusions and test crude oil prices fluctuations affect GDP growth in the modern economy.   The U.S.A and Sweden were chosen to compare their GDP sensitiveness to oil price volatility. The reason is that the U.S.A remains as the largest economy and consumes 25% of the oil produced in the world and is the most oil dependent among developed countries according to the EIA. Sweden on the contrary energy efficient and consumes relatively less oil per capita than many developed countries, it is also believed to be one of the most progressive countries in developing and using renewable energy resources and therefore less sensitive. The bivariate results does not show a pattern of negative correlations for Sweden between GDP growth and real oil price increases, however the U.S.A showed to be more sensitive to oil price increases.

<p>During the year of 2008, the world has experienced historically high oil prices reaching an all time high of 147 USD per barrel in midsummer. The extreme volatility of what is consider the number one source of energy reopened discussions about energy sustainability and the plausible effects of an oil shock in the global economy.</p><p> </p><p>How reliable oil price is as an economic variable predicting fluctuations in GDP growth remains controversial. Several models have been developed by scholars targeting different relations between oil price and GDP growth, from its effects on stock markets to its effect to unemployment. The authors extended the model of Mork & Olson (1994)<strong> </strong>since it focuses on the consequences that an oil shock effect on GDP growth. The model is extended from 1993 to the third quarter of the year 2008 in order to draw conclusions and test crude oil prices fluctuations affect GDP growth in the modern economy.</p><p> </p><p>The U.S.A and Sweden were chosen to compare their GDP sensitiveness to oil price volatility. The reason is that the U.S.A remains as the largest economy and consumes 25% of the oil produced in the world and is the most oil dependent among developed countries according to the EIA. Sweden on the contrary energy efficient and consumes relatively less oil per capita than many developed countries, it is also believed to be one of the most progressive countries in developing and using renewable energy resources and therefore less sensitive. The bivariate results does not show a pattern of negative correlations for Sweden between GDP growth and real oil price increases, however the U.S.A showed to be more sensitive to oil price increases.</p><p> </p>

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Thesis advisor: Robert Murphy / The primary goal of the European Union is to promote a high degree of competition between regions in an effort to allow for the creation of the single market. In the year 2004, the EU had allowed ten new member states to enter into the European Union. This paper looks at the potential positive or negative impact from entering into partnership with the EU. It looks at convergence between EU member states and a potential treatment effect in order to determine that this is indeed a localized phenomenon in the EU or is there a general convergence between all countries. The paper uses a fixed effects approach in order to determine the impact of partnership and use of the Euro within the EU. I find evidence of convergence and a positive benefit from partnership; however, using the Euro appears to have a negative impact on countries. / Thesis (BA) — Boston College, 2015. / Submitted to: Boston College. College of Arts and Sciences. / Discipline: Departmental Honors. / Discipline: Economics.

This thesis attempts to establish what determines financial development in Africa by making use of cross sectional and panel data techniques. Financial development, the dependent variable, is measured using the banking sector indicator liquid liabilities (M3) while trade openness, financial openness and the GDP growth rates are used as independent variables. The data used in this research ranges from 1975-200, though for the cross sectional analysis particular years (1975, 1985, 1995, and 2005) are focused on. The empirical results from both regression types generally suggest that trade openness has a significantly positive effect on Africa’s financial development. Cross-sectional results show that financial openness and the GDP growth rate are significantly negative in 2005. With the panel data results, financial openness is significantly negative in explaining financial development, while the GDP growth rate is insignificant suggesting that it is not an important determinant of financial development for African countries.

This thesis will determine the factors that have affected the economy in the countries from ex-Yugoslavia. A couple of regression analyses will test the correlation between GDP Growth or GDP per Capita and twelve independent variables. The analyses tell us that high import ratio, low inflation and not being in an intrastate war are associated with high GDP Growth, where high political rights, being a member of the European Union or having a status as a Candidate Country are associated with high GDP per Capita. The explanation for the different result might be the catch up effect.

<p>This thesis attempts to establish what determines financial development in Africa by making use of cross sectional and panel data techniques. Financial development, the dependent variable, is measured using the banking sector indicator liquid liabilities (M3) while trade openness, financial openness and the GDP growth rates are used as independent variables. The data used in this research ranges from 1975-200, though for the cross sectional analysis particular years (1975, 1985, 1995, and 2005) are focused on.</p><p>The empirical results from both regression types generally suggest that trade openness has a significantly positive effect on Africa’s financial development. Cross-sectional results show that financial openness and the GDP growth rate are significantly negative in 2005. With the panel data results, financial openness is significantly negative in explaining financial development, while the GDP growth rate is insignificant suggesting that it is not an important determinant of financial development for African countries.</p>

Background: Economic and Business cycle indicators are used when predicting a country’s Gross Domestic Products, GDP. During recent time, Purchasing Managers Index and its ability to signal changes in the economy have received attention. It provides inconsistent signals since the financial crisis in 2008. Decision makers in the society rely on macroeconomic forecast when implementing strategic decisions. It is therefore necessary for indicators to provide correct signals in relation to GDP. Previous research about indicators’ stability is mostly conducted in the U.S. According to the authors’ knowledge, scarce research has been made in Sweden. The area lacks observations where a wider range of indicators is included to get a broader perspective of the economy. Purpose: The purpose of this study is to examine Swedish indicators and observe if they are stable and provide accurate, reliable and consistent signals in relation to GDP growth. Furthermore, the financial crisis in 2008 is used as a benchmark when observing stability and indicators’ predictive ability. Method: Ten indicators within the categories financial, survey-based and real economy indicators are selected. Quarterly data with a time period of maximum 1993-2013 are analyzed. The statistical tests conducted include Correlation, Cross-Correlation and Simple Linear Regression, an interaction term is also included to account for the financial crisis. Conclusion: The results show that nine out of ten indicators are unstable. Purchasing Managers Index show largest changes compared to other indicators. Industry Production index is the best performing indicator. When it comes to the categories; survey-based, financial and real-economy indicators, no category overall provide stability.

Cutting down carbon dioxide emissions produced by our current way of life will not be enough to stop climate change. By aligning myself with the Collaborative economy scenario of a Sweden in 2050 produced by The Beyond GDP-growth program i have tried to understand how we could live in another (economical) paradigm. I propose rebuilding the existing building Lågskär 1 in the suburb of Kärrtorp south of Stockholm. Adapting existing buildings is in line with the scenario, as is “docking around nodes in the public transport system”The house was built in 1949 and of consists of a ground floor with shop premises and two floors of apartments. To turn it into a building of the scenario i located core home functions (sleeping, some storage) to the apartment floors and extended home functions (hygiene, cooking, eating, social contact, workshop) to the ground floor. Placing common functions in the ground floor is also mentioned in the scenario text.The number of inhabitants of the house is more than doubled compared with today, and consumption and use of resources is reduced by sharing spaces and commodities used in everyday life.

The purpose of this bachelor thesis is to determine what type of causative relationship between FDI and GDP exists in Lithuania. The analysis includes assessment of the overall economic situation in the country, analysis of historical statistical data on FDI, overview of existing studies and regression analysis. The regression is performed in order to reveal the impact of various economic factors on GDP growth. The model in question includes such economic indicators as corruption perceptions level index, harmonized consumer price index, net export, foreign investments via liabilities and FDI. Firstly, Granger causality test is performed in order to see whether FDI Granger causes GDP. Then, after making corrections for sequences to be stationary, a regression is performed using ordinary least squares method. The results of the analysis show that there is no statistically significant impact of FDI on economic growth in Lithuania. Nevertheless, foreign investments of other type had a great influence on economic performance in the past several years. However, due to their nature economic growth could not be sustained. The reasons for FDI having no influence over the economic growth in Lithuania are seen in the fact of scarcity of the investments, country’s inability to attract foreign investors, corruption existence, and unstable taxing system. Recommendations are provided on the matter. / Darbo tikslas – nustatyti koks egzistuoja ryšys tarp tiesioginių užsienio investicijų (TUI) ir BVP augimo Lietuvoje. Darbe analizuojama dabartinė šalies ekonominė situacija, TUI statistiniai duomenys, apžvelgiama susijusi literatūra bei moksliniai straipsniai, atliekama regresinė analizė. Regresinės analizės tikslas – nustatyti kokią įtaką ekonominiam augimui daro į modelį įtraukti kintamieji. Į regresinį modelį įeina korupcijos lygio indeksas, suderintas vartotojų kainų indeksas, grynasis eksportas, kitos užsienio investicijos ir TUI. Pirmiausia atliekamas Grendžerio duomenų analizės testas, kuris nustato ar TUI gali dinamiškai paaiškinti BVP augimo tempus. Tuomet, atlikus laiko eilučių stacionarumo korekcijas, mažiausių kvadratų metodu įvertinama tiesinė regresija. Analizės rezultatai parodė, kad TUI neturi statistiškai reikšmingos įtakos ekonominiam augimui Lietuvoje. Tačiau kitos užsienio investicijos, pastaraisiais metais ekonominiam vystymuisi turėjo didelę įtaką, nors dėl jų pobūdžio, stabilus ekonomikos augimas nebuvo užtikrintas. Galima įvardinti pagrindines priežastis, dėl kurių TUI neturėjo įtakos ekonominiam augimui Lietuvoje – tai investicijų trūkumas, šalies nesugebėjimas pritraukti užsienio investuotojus, korupcija ir nestabili mokesčių sistema. Darbo pabaigoje pateikiamos rekomendacijos.