Economics
Rimon Kumar; Saikat Pande
Abstract
Agriculture is one of the most important sectors and driving factors of the economy of Bangladesh, which plays a significant role in the prosperity of large rural communities by increasing productivity, income, and creating employment. Presently, this sector has faced a severe challenge in its production, ...
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Agriculture is one of the most important sectors and driving factors of the economy of Bangladesh, which plays a significant role in the prosperity of large rural communities by increasing productivity, income, and creating employment. Presently, this sector has faced a severe challenge in its production, due to the construction of unplanned infrastructure in rural areas. This study investigates the effect of rural infrastructure on agricultural production in Bangladesh. Using the purposive sampling technique, 50 respondents were interviewed through a structured questionnaire to collect primary data from six unions of Sadar Upazila in the Kushtia district. Statistical methods of multiple regression and paired-sample t-test have been utilized to analyze the collected data. The results of the multiple regression model show that the co-efficient of cultivable and infrastructural land size is statistically significant at 1 percent of level, which depicts cultivable land positively affects agricultural production, whereas infrastructural land negatively affects agricultural production in the study area. This means that infrastructure built on cultivable land has reduced agricultural production. Paired-sample t-test result also shows that the mean difference between agricultural production before and after constructing infrastructure is TK.134847.94 per year. The primary reasons for the construction of infrastructure in the study area are unanticipated population expansion, urbanization, unplanned human settlement, and a rise in nuclear families. Lastly, suitable policies have been offered to develop the infrastructure as well as agricultural production in rural areas.
Economics
Seyed Valiallah Mirhoseyni; Seyed Hosein Izadi; Leila Mohammad Ghader
Abstract
Human capital is supposed to be an important factor in innovation and economic development. However, the long-run influence of human capital on current innovation and economic development is still unclear, in particular in the MENA region. Therefore, the present study is to investigate the long-run influence ...
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Human capital is supposed to be an important factor in innovation and economic development. However, the long-run influence of human capital on current innovation and economic development is still unclear, in particular in the MENA region. Therefore, the present study is to investigate the long-run influence of human capital on innovation and economic growth in MENA countries for the years 2010-2012. The data were collected using the library method from the World Bank database and were analyzed using statistical and econometric methods for panel data. The results obtained from this study showed that human capital had a positive, significant influence on innovation and economic growth in MENA countries. The same influence was observed for the population density in some age groups (more educated people) on the patents in MENA countries.The same influence was observed for the population density in some age groups (more educated people) on the patents in MENA countries.
Economics
Kazuhiro Ohnishi
Abstract
This paper uses a mixed market model in which a state-owned public firm and a private firm produce complementary goods and reassesses the welfare effects of production subsidies. The paper examines four regimes: mixed and private duopoly, each with and without subsidies. In the regimes without subsidies, ...
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This paper uses a mixed market model in which a state-owned public firm and a private firm produce complementary goods and reassesses the welfare effects of production subsidies. The paper examines four regimes: mixed and private duopoly, each with and without subsidies. In the regimes without subsidies, a one-shot Cournot-Nash game is considered. In the regimes with subsidies, the following two-stage game is considered: At the first stage the government chooses the subsidy level to maximize social welfare, and at the second stage each firm observes the subsidy and simultaneously chooses its output level. The paper presents the following two main results. First, if production subsidies are used only before privatization, then there is a reduction in social welfare. Second, if production subsidies are used before and after privatization, then social welfare is not changed by privatization. The paper finds that the results are the same as those obtained by White (1996) that examines the welfare effects of production subsidies in a Cournot mixed market with homogeneous goods.
Economics
Seyed Valiallah Mirhoseyni; Seyed Hossein Izadi; Abas Rahimi
Abstract
One of the most significant sources of government funding that has an impact on social and economic trends is tax income. One of the most significant elements impacting macroeconomic variables, particularly tax income, are exchange rate swings. In this regard, the current study has looked at the impact ...
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One of the most significant sources of government funding that has an impact on social and economic trends is tax income. One of the most significant elements impacting macroeconomic variables, particularly tax income, are exchange rate swings. In this regard, the current study has looked at the impact of currency rate changes on tax receipts in the Iranian economy from 1979 to 2018. The World Bank, the Iranian Statistics Center, and the Central Bank of the Islamic Republic of Iran's economic time series databases were used to extract the necessary data. To do this, the actual exchange rate fluctuation was first calculated using the Generalized Autoregressive Conditional Heterogeneity Variance (GARCH) model, and the required relationships were then estimated using the Autoregressive Distributed Lag (ARDL). The study's findings indicated that increased exchange rate swings when a firm is open and have an impact on tax income and put it at risk, which causes a short-term decline in tax revenue.
Economics
Idongesit Edem Udoh; Ubong Edem Effiong; John Polycarp Ekpe
Abstract
The main objective of this study was to empirically examine the influence of globalization on income inequality in Nigeria from 1986 to 2021. The income inequality was represented by the Gini coefficient while globalization was measured by key indices like foreign direct investment, remittances, and ...
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The main objective of this study was to empirically examine the influence of globalization on income inequality in Nigeria from 1986 to 2021. The income inequality was represented by the Gini coefficient while globalization was measured by key indices like foreign direct investment, remittances, and trade openness. With the use of the autoregressive distributed lag (ARDL) approach which was as a result of the stationary of our series at levels and first difference as reported by the Augmented Dickey-Fuller unit root test, the study observed that a long-run relationship exists amid inequality and measures of globalization. In the short-run, it was realized that foreign direct investment, remittances, trade openness, and urbanization aided in reducing income inequality in the short-run while inflation accelerated income inequality within the study period. In the long-run, the only measure of globalization that significantly reduce income inequality is remittances; while foreign direct investment significantly increased income inequality in the long-run. the paper concluded that it is not inevitable that measures of globalization have different influence on inequality of income and wealth depending on time.
Economics
Ade Herawan; Agnes Quartina Pudjiastuti; Nur Ida Iriani
Abstract
People of Pasuruan Regency seize market opportunities for fishery commodities by conducting fish pemindangan (processing) businesses. The study aims to analyze factors that affect income of the fish pindang business in Mlaten and Kedawang Village, Pasuruan Regency. The research respondents were all fish ...
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People of Pasuruan Regency seize market opportunities for fishery commodities by conducting fish pemindangan (processing) businesses. The study aims to analyze factors that affect income of the fish pindang business in Mlaten and Kedawang Village, Pasuruan Regency. The research respondents were all fish processing business actors, totaling 24 business actors in Mlaten Village and 26 business actors in Kedawang Village. Data collected through interviews with respondents, and analyzed with multiple linear regression models. The results showed that income of the business in Mlaten Village was simultaneously influenced by price of raw materials, business experience, number of workers, education, processing facilities, firewood, and amount of salt. Partially, the income was significantly influenced by business experience, number of workers, and processing facilities. In Kedawang Village, simultaneously, all of these variables also have a significant effect on the income. But partially, business experience, processing facilities, and the amount of salt have a significant effect on the income. Most dominant factor is processing facilities.
Economics
Saikat Pande
Abstract
The handloom textile industry, one of the significant labor-contributing industries in Bangladesh, provides income and employment opportunities for a sizable section of rural labor. However, in recent years, the handloom textile industry has been experiencing several problems in its production. The residents ...
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The handloom textile industry, one of the significant labor-contributing industries in Bangladesh, provides income and employment opportunities for a sizable section of rural labor. However, in recent years, the handloom textile industry has been experiencing several problems in its production. The residents of three Upazilas in the Sirajganj district rely directly or indirectly on this sector. This study will examine the issues and opportunities of the handloom industry in three Upazilas of the Sirajganj district in Bangladesh. The district of Sirajganj was chosen as a purposive sample and used the multistage random sampling method of fifty handloom units from twenty villages in Ullapara, Shahajdpur, and Belkuchi Upazila. The Cobb-Douglas production function is used to identify in this case to assess the variables' impact on the Handloom sector's annual income. Labor, input, and education coefficient is significant at 1 percent of the level. On the other hand, capital has negatively impacted the handloom industries and is also not statistically significant. Despite experience positively impacting the handloom weaver's income, it does not influence statistically significant. The estimated capital coefficient of -0.208, and the approximate labor cost is 25.73. Major problems of the handloom industry in the high rate of fabrics and colors. These results suggest that labor is a vital part of the handloom industry and with the posting of workers, handloom output rises as well.
Economics
Wakhid Setiyantoro; Agnes Quartina Pudjiastuti; Cakti Indra Gunawan
Abstract
Vannamei shrimp farming on a mini-scale plastic pond ("busmetik") in Pasuruan Regency has been implemented since 2015. This study aims to analyze financial feasibility and potential for busmetik development in this region. The research was conducted in three sub-districts with a population of 120 farmers. ...
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Vannamei shrimp farming on a mini-scale plastic pond ("busmetik") in Pasuruan Regency has been implemented since 2015. This study aims to analyze financial feasibility and potential for busmetik development in this region. The research was conducted in three sub-districts with a population of 120 farmers. Sample was determined by simple random sampling and 37 farmers were selected. Data collected through interviews, and analyzed by financial feasibility and SWOT. The results showed that busmetik vannamei shrimp farming in Pasuruan Regency was feasible to be developed based on investment criteria: R/C and B/C greater than one, short payback period, BEP price and production lower than real price and production, positive NPV, and IRR is higher than bank interest rate. Sensitivity analysis on the decline in production and prices by 20% resulted in the conclusion that this business is just feasible. Analysis of internal factors (IFE) and external factors (EFE) resulted in six strategies for developing vannamei shrimp farming business with busmetik technology. Those strategies were to classify product sizes based on quality; increase production volume with optimal land use; integrated production management; product differentiation; training program planning; and work with third parties for assistance. Government and investors can promote the business by supporting financing, providing integrated production management training in order to increase production and income of farmers.
Economics
Mohammad Nazmus Sakib; Abu Hurira; Md Ariful Islam
Abstract
The SARS COV2 pandemic hits the life and livelihoods of millions and consequently slows down the world economy. The pandemic hits hard the specific social groups due to travel restrictions/bans and other regulations that affect their income and consumption patterns. The goal of this paper is to find ...
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The SARS COV2 pandemic hits the life and livelihoods of millions and consequently slows down the world economy. The pandemic hits hard the specific social groups due to travel restrictions/bans and other regulations that affect their income and consumption patterns. The goal of this paper is to find out whether the pandemic has any effect on consumption and income patterns among consumers in rural settings. To implement this study, structured questionnaires were sent to respondents and collect data from 180 samples living in rural areas of four different administrative districts in Bangladesh such as Rajshahi, Bogura, Naogaon, and Natore. Using paired sample T-test (parametric) and Wilcoxon signed ranked test (nonparametric) test found that pandemics had a significant effect on the pattern of consumption and income in the northern area of Bangladesh. While the Keynesian method of income determination shows that the MPC before the COVID-19 pandemic was 0.31 and during it was 0.37. This shows that consumers would like to consume at a higher level compared to them before the COVID-19 pandemic. Overall, the study revealed that though the pandemic significantly affect consumers’ income to reduce, consumption levels inclines fuelled by the fear of panic buying during the pandemic. Government should have preparedness to provide essential goods during any natural disasters or pandemic-like events.
Economics
Nastaran Shahvari
Abstract
Considering the emotional behavior of investors in the cryptocurrency market, this paper comprehensively explores the sophisticated relationship between Bitcoin investor sentiment and gold price movements. The purpose of this study is to examine the impact of the gold price on investor sentiment of Bitcoin ...
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Considering the emotional behavior of investors in the cryptocurrency market, this paper comprehensively explores the sophisticated relationship between Bitcoin investor sentiment and gold price movements. The purpose of this study is to examine the impact of the gold price on investor sentiment of Bitcoin market traders and investors using monthly data from August 2020 to August 2022. The impact of oil prices on investor sentiment was examined using the Pooled Mean Group (PMG) method. The PMG approach considers short-term and long-term relationships between series and provides reliable results in the context of dynamic heterogeneous panel models. PMG implementations in all models show the short-term and long-term impact of the gold price on investor sentiment. The results also suggest that gold prices are positive and significant in the long run across all models, and that behavioral factors such as consumer sentiment and global economic stability are important in controlling gold prices at shorter time resolutions. Precious metals have had a positive impact on the Bitcoin market,
Economics
Hamid Izadi
Abstract
Nowadays, the study of the share of households' health expenditures in their total consumption expenditures and its impact on the well-being of households and society has become an important issue as it is applied in policy and planning by government officials. This paper aims to examine the impact of ...
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Nowadays, the study of the share of households' health expenditures in their total consumption expenditures and its impact on the well-being of households and society has become an important issue as it is applied in policy and planning by government officials. This paper aims to examine the impact of changes in the share of health expenditures in the basket of total household consumption expenditures and to show that small changes in the variable have significant effects on consumption, desirability, and, consequently, the well-being of society. The results of this modelling suggest that a decrease in the share of household health expenditures leads to an increase in other household expenditures and, consequently, increases household welfare by an increasing utility. The reason for this is that by increasing its health and medical expenditures, the household must reduce its consumption of other goods, which decreases its total utility. It should be noted that this decrease is due to the fact that households are less inclined to spend a larger share of their total consumption expenditure on health services. An increase in the share of households' health expenditures in their total expenditures leads to a decrease in welfare, and a decrease in this share increases household welfare. However, factors such as the inefficiency of the insurance system, poor health system monitoring, and problems in accessing and using health services can have a major impact on households' acceptance, desire, and use of health services and should be considered a serious problem.
Economics
Kazuhiro Ohnishi
Abstract
This paper examines an oligopoly game model with a concave demand function where labor-managed firms compete in quantities with each other. There is no possibility of entry or exit. The timing of the game is as follows. In the first stage, each labor-managed firm simultaneously and independently chooses ...
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This paper examines an oligopoly game model with a concave demand function where labor-managed firms compete in quantities with each other. There is no possibility of entry or exit. The timing of the game is as follows. In the first stage, each labor-managed firm simultaneously and independently chooses the level of social concern. In the second stage, each labor-managed firm simultaneously and independently chooses whether to offer lifetime employment as a strategic commitment device. In the third stage, quantity competition takes place. This paper examines the reaction functions of labor-managed firms in the model. First, the paper presents the reaction functions of labor-managed firms in the game model. It is shown that the reaction functions of labor-managed firms have both upward and downward sloping cases. Next, the paper provides a simple example to support the above result. This example shows a case in which the reaction functions of labor-managed firms are downward-sloping.
Economics
Nastaran Shahvari
Abstract
In this article, we provide an in-depth study of the link between global commodity prices and the shocks market. Many Middle East countries are exports dependent and rely heavily on the global price of their primary commodities to make rational economic decisions. It is against this background that this ...
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In this article, we provide an in-depth study of the link between global commodity prices and the shocks market. Many Middle East countries are exports dependent and rely heavily on the global price of their primary commodities to make rational economic decisions. It is against this background that this study investigates the level of interdependence between global commodities prices and stock market returns in selected Middle East countries. For this empirical investigation, the two largest stock markets were selected based on market capitalization namely Tehran Stock Exchange (TSE) and Saudi Stock Exchange, TADAWUL (TASI). Specifically, we examined the relationship between global commodities prices and stock market returns and the direction of causality between the variables following Eagle Granger causality procedures. In addition, we determined the effect of global commodities` price movement on stock market returns using the ARDL estimation technique. The results of our analyses show that there is a significant long-run relationship between global commodities prices and stock market returns. Also, there exists a largely bidirectional causal relationship between global commodities prices and stock market returns in the two markets. Furthermore, the results of ARDL estimation reveal that global commodities prices have short-run and long-run effects on stock market returns in the two markets. These findings are robust to a battery of robustness checks. These results support the investor's decision-making process. In addition, the results of this survey are important for policymakers to strengthen the stock market to drive economic growth.
Economics
Ubong Edem Effiong
Abstract
The attempt in this study has been to detect the influence of foreign exchange reserves on import demand in Nigeria. With data spanning from 2000 to 2020, we estimated the long-run and short-run import demand function using ‘fully modified ordinary least squares’ and ‘error correction ...
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The attempt in this study has been to detect the influence of foreign exchange reserves on import demand in Nigeria. With data spanning from 2000 to 2020, we estimated the long-run and short-run import demand function using ‘fully modified ordinary least squares’ and ‘error correction model’ respectively after we established that our variables were integrated of the first order and that cointegration exists. The long-run import demand function pointed out that the effect of foreign exchange reserves on import demand is positive but insignificant but such effect turned negative and significant in the short-run. Import price was also noted to put forth a negative sway on import demand with its effect being significant. Income was observed to wield a positive long-run influence on import demand while the effect of exchange rate was positive and significant in the long-run but became negative and significant in the short-run. By the elasticity coefficients, income elasticity put forth a greater influence on import demand compared to every other variable with the coefficient being greater than unity. It therefore becomes pertinent for actions toward reducing the income coefficient to less than or equal to one to be instituted. It is critical that import demand management be regarded as an aspect of an inclusive stabilization strategy. Imports should be targeted as part of this effort to compensate for shortfalls in domestic production. Furthermore, strategies that reduce government spending or raise taxes (contractionary fiscal policy) could reduce income growth which is a chief driver of import demand.
Economics
Elnaz Hajebi; Mohammad Taher Ahmadi Shadmehri; Kambiz Peykarjou; Salman Sotoudehnia
Abstract
In the theory of microeconomics, in discussions related to consumer behavior, it is usually assumed that the household acts as a decision-making unit like an individual, and for a household, a budget constraint and a utility function are considered. As a result, only the general behavior of the household ...
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In the theory of microeconomics, in discussions related to consumer behavior, it is usually assumed that the household acts as a decision-making unit like an individual, and for a household, a budget constraint and a utility function are considered. As a result, only the general behavior of the household will be observable and analyzed. Since the 1980s, this method, which is called the Unitary Household Model, has been criticized theoretically and empirically, and issues such as the inequality of household members have been raised. In contrast to the Unitary Household model, Collective Household Model was proposed in consumer behavior. According to this method, in multi-member households, each member has their own preferences, and what can be important between these members is the intra-household bargaining process. In this article, at first, we will give an introduction including the theoretical foundation and the background of the research, then, while introducing the unitary model as an introduction to collective models, we will examine the collective model and inta-household collective models. At the end, the contents are summarized and suggestions for future research are presented.
Economics
Retno Furi Sekarsari; Agnes Quartina Pudjiastuti; Cakti Indra Gunawan
Abstract
Livestock businesses have various risks of death that can occur due to accidents, natural disasters, and disease outbreaks. To anticipate the risks that occur, the government seeks to help farmers through agricultural insurance, including the cattle and buffalo business insurance program (AUTSK= Asuransi ...
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Livestock businesses have various risks of death that can occur due to accidents, natural disasters, and disease outbreaks. To anticipate the risks that occur, the government seeks to help farmers through agricultural insurance, including the cattle and buffalo business insurance program (AUTSK= Asuransi Usaha ternak Sapi/Kerbau). This study aims to analyze the implementation of the AUTSK program and the factors that affect the income of dairy farmers. The research was conducted in Ngajum District, Malang Regency with the consideration that this area is a center for dairy cows. Data were collected from 40 dairy farmers obtained by simple random sampling. Furthermore, the data was edited and compiled, and then analyzed using the multiple linear analysis method (which was transformed from Cobb Douglas function). The results showed that implementation of the AUTSK program in Malang Regency tended to be less attractive to farmers because the fulfillment of claims was not timely (the period of disbursement of funds was too long). Farmer education, livestock ownership and the cost of concentrate feed have a significant effect on the income of dairy farmers. Government needs to re-evaluate implementation of livestock insurance so that farmers can continue their business. Limitation of this study is difficulty of separating cost of production facilities for each cow, so that the expenditure for lactating cows is also difficult to calculate correctly.
Economics
Elnaz Hajebi; Teimour Mohammadi
Abstract
In a world scale economy considering interlinkage and interactions between countries, economic shocks will affect various economies through channels. Meantime, the oil price is one of the most important channels. New studies show that the connection between the oil price and the world economy has numerous ...
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In a world scale economy considering interlinkage and interactions between countries, economic shocks will affect various economies through channels. Meantime, the oil price is one of the most important channels. New studies show that the connection between the oil price and the world economy has numerous complications which could not be incorporated in traditional frames with only taking into consideration separated and identified oil supply and demand shocks without considering synchronicity and the source of the main shocks. Therefore it is essential to model a multi-dimensional system. The purpose of this study is to investigate the impact of oil price shocks on the major macroeconomic variables of oil-exporting countries from 1974Q1 to 2019Q4 using the global vector autoregressive (GVAR) approach. The macroeconomic variables include four domestic variables, three foreign variables and one global variable. In particular, it provides a theoretical framework for the global oil market to illustrate how multi-country approach to modeling oil markets can be used to identify country-specific oil price shocks. On the empirical side, it shows the global economic implications of oil price shocks vary considerably depending on which country is subject to the shock. The results of this study indicate that the economic consequences of a positive oil price shock are different on macroeconomic variables in oil-exporting countries in short-run and long-run. However, in response to a positive oil price shock, most of OPEC countries experience long-run inflationary pressures.
Economics
Andi Kusmawan; Agnes Quartina Pudjiastuti; Nur Ida Iriani
Abstract
Efficient marketing will prosper the actors in each marketing agency, producers and consumers. Efficiency will be created if marketing costs can be minimized so that the percentage of producer prices to consumers is not too large, and there is no gap in the profit ratio to marketing costs between marketing ...
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Efficient marketing will prosper the actors in each marketing agency, producers and consumers. Efficiency will be created if marketing costs can be minimized so that the percentage of producer prices to consumers is not too large, and there is no gap in the profit ratio to marketing costs between marketing agencies. The study aims to analyze marketing efficiency of tangerines and siamese in Gadingkulon Village. Data were collected from 87 citrus farmers who were selected by simple random sampling. Traders were determined by snowball sampling, consist of 17 collectors, 5 wholesalers, and 7 retailers were selected. Data were edited in the field, tabulated, compiled, then presented in tabular form, analyzed and described. The results showed that tangerines and siamese in Gadingkulon Village had an imperfect competitive market structure which was monopolistic. Marketing of the two types of oranges involves four channels i.e. collectors, retailers (inside and outside Malang Regency), and wholesalers. Oranges marketing system is not yet efficient, where wholesalers have larger profit margin ratio than other market players. Marketing channels I and II for tangerines are more efficient than channels III and IV. Meanwhile, marketing channel I for siamese is more efficient than channel II, III, and IV.
Economics
Rahmat Hidayat; Agnes Quartina Pudjiastuti; Sumarno Sumarno
Abstract
Oranges are favored by consumers, especially during pandemic covid-19, because they contain high vitamin C. Gadingkulon Village, located in Dau District, Indonesia, is one of the largest oranges producing villages. Mainstay plantation commodities of the village are tangerines and siamese. Agricultural ...
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Oranges are favored by consumers, especially during pandemic covid-19, because they contain high vitamin C. Gadingkulon Village, located in Dau District, Indonesia, is one of the largest oranges producing villages. Mainstay plantation commodities of the village are tangerines and siamese. Agricultural commodities generally fluctuate in price and production. The study’s purpose was to evaluate feasibility of farming tangerines and siamese. Data were collected from 87 farmers who grow both types of oranges. Farmers were selected by simple random sampling, where the number is determined using slovin formula. The data were analyzed using investment criteria of revenue cost ratio, benefit cost ratio, break event point for price and production, payback period, net present value and internal rate of return. The results show that tangerine and siamese farming were feasible to develop because investment criteria number exceeds some criteria. Payback period is less than five years, price and production break event point were lower than that received by farmers, net present value is relatively large and positive, rate of return on capital is higher than social opportunity cost of capital. Oranges farming was feasible yet, even though prices have fallen by 10% and production by 30%. Siamese were more profitable than tangerines.
Economics
Etuk Harrison Etuk; Obioma Gertrude Onukwube; Imoh Udo Moffat
Abstract
Russia and Ukraine are in a war, with the former invading the latter. This puts the latter under great stress, many have died in the process and many more have been displaced and many more have fled from Ukraine. This has resulted in intervention in many time series related to Ukraine. For example, the ...
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Russia and Ukraine are in a war, with the former invading the latter. This puts the latter under great stress, many have died in the process and many more have been displaced and many more have fled from Ukraine. This has resulted in intervention in many time series related to Ukraine. For example, the time series of the daily exchange rates of Ukrainian Hryvnia (UAH) and United States Dollars (USD) experienced an intervention on the first day of Russian incursion. By Box and Tiao (1975) approach, a realization of the time series from 1 January 2022 to 15 March 2022 is analyzed. The intervention model arrived at is found adequate. It can be the basis for management and planning.
Economics
Johora Tahsin
Abstract
ICT has been considered a crucial player in environmental quality in the present age of industrial revolution and technological advancement. This study, therefore, seeks to examine the effects of ICT on environmental quality including technological innovation in selected Asian developing countries. A ...
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ICT has been considered a crucial player in environmental quality in the present age of industrial revolution and technological advancement. This study, therefore, seeks to examine the effects of ICT on environmental quality including technological innovation in selected Asian developing countries. A panel data that spanned from 1990 to 2018 is utilized to pursue the objectives of this study by applying second-generation panel approaches. In the long run, an inverted U-shaped relationship between the ICT index and CO2 emission is found by FEM and FMOLS estimators, indicating that environmental pollution decreases after attaining a threshold level of ICT development in selected Asian developing countries. The study reveals that technological innovation has a negative and significant influence on reducing CO2 emission, leading to energy efficiency and diminishing the intensity of energy used by inventing environmentally friendly technologies. Besides, electricity consumption and economic growth have positive and significant effects on the environment however, a negative and significant effect is found in the case of trade openness. The interactive effect of ICT and economic growth decreases the level of pollution while the moderate effect of ICT and technological innovation worsens the environmental quality in sample countries. The findings reveal that the role of ICT and technological innovation in mitigating environmental degradation still needs improvement in sample countries. The use of environmentally friendly ICT products and more green technological innovation are needed to improve energy efficiency by providing more fiscal incentives and infrastructures and enforcing environmental laws and regulations in the sample countries.
Economics
Mfouapon Alassa; Kamdem Cyrille Bergaly; Mohammadou Nourou
Abstract
The objective of this study is to produce a statistical investigation of the determinants of public expenditure in and for agriculture in Sub-Saharan Africa with particular emphasis on the effects of democracy and quality of governance. The data for the study cover the period 1996-2018 in 32 Sub-Saharan ...
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The objective of this study is to produce a statistical investigation of the determinants of public expenditure in and for agriculture in Sub-Saharan Africa with particular emphasis on the effects of democracy and quality of governance. The data for the study cover the period 1996-2018 in 32 Sub-Saharan African countries. In the quantitative analyses, we perform two estimations: country fixed effects and feasible generalized least squares regressions. We find that only civil liberties positively determine the allocation of public expenditures to agriculture. The strength of democratic institutions and government voice and accountability have no real effect on the allocation of public spending to agriculture. Regarding the quality of governance, only political stability positively determines the allocation of public expenditure to agriculture. Our findings have strong policy implication for politician and different government, which shows that it is more desirable to shift public expenditures towards the agricultural sector by institutionalized the governance and improve democratic institutions. Also, our findings cast some doubt on the exact public policy channels through which political institutions affect agricultural growth.
Economics
Elham Kamal
Abstract
This paper sheds a new light on the role of central bank credibility (CBC) in explaining the extent of exchange rate pass-through (ERPT) in two stages. In the first stage, using 60 months rolling window regression of the inflation on the nominal effective exchange rate is obtained time-varying ERPT during ...
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This paper sheds a new light on the role of central bank credibility (CBC) in explaining the extent of exchange rate pass-through (ERPT) in two stages. In the first stage, using 60 months rolling window regression of the inflation on the nominal effective exchange rate is obtained time-varying ERPT during 1990m1-2020m1. Once the credibility index (deviation of average of past inflation from target) is computed over a period of 29 years (1991-2019), in the second stage, the sample of 19 inflation targeting (IT) economies are split into different regimes with regard to the credibility values by using a Panel Threshold Regression (PTR) model. Our empirical result shows that there is one threshold point for CBC which is well identified by the data, allowing me to split my sample into two credibility regimes. When CBC level is below a threshold of 35% within a high-inflation environment, the extent of the ERPT coefficient is found to be higher. However, with the shift towards high-credibility regime, when credibility level is exceeding the threshold of 35%, the level of pass-through is significantly declining in the IT countries. This finding sheds further light on how the credibility gained through the commitment to the targets can be effective on the performance of the central bank and would ensure the better control of the pass-through.
Management
Rina Nopianti; Andreas Tri Panudju; Angrian Permana
Abstract
This paper aims to predict stock prices using open, high, low, close variables using artificial neural networks, especially the adaptive fuzzy neural inference system (ANFIS). Each stock has a different pattern and can be predicted if you have complete data. This study is limited by stock data for 2012-2019. ...
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This paper aims to predict stock prices using open, high, low, close variables using artificial neural networks, especially the adaptive fuzzy neural inference system (ANFIS). Each stock has a different pattern and can be predicted if you have complete data. This study is limited by stock data for 2012-2019. The survey was conducted to collect stock data from the Yahoo Finance website. The stock data used is data from 2001-2018. Learning patterns of data patterns using the Adaptive Neural Fuzzy Inference System (ANFIS) were compared with regression analysis, Mean Square Error (MSE) and Mean Prediction Error. The results show that stock price predictions using the Adaptive Neural Fuzzy Inference System (ANFIS) have a small error rate (below 1 percent). The stock price at closing is determined by the open price and the volume of the stock. The value of the highest price of the stock and the lowest value of the stock follows the determined value of the opening price. This paper contributes to existing research in economics, especially stock investment and Financial Technology.
Economics
Gomolemo Gashiten; Paidamoyo Mutepfa
Abstract
The study followed up on the observations made by Bara et al., (2016) who observed that there was a deficit in analyzing the growth-finance nexus using data from SADC countries. The purpose of the study was therefore to ascertain the impact of foreign direct investment on economic growth through the ...
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The study followed up on the observations made by Bara et al., (2016) who observed that there was a deficit in analyzing the growth-finance nexus using data from SADC countries. The purpose of the study was therefore to ascertain the impact of foreign direct investment on economic growth through the domestic financial market channel of SADC countries. A sample of countries from the SADC region was employed with the data ranging from 1980 to 2018. The data was obtained from the IMF and the World Bank’s World Development Indicator data base. The regressors used in the study include foreign direct investment, financial sector development, interaction of financial development and foreign direct investment, trade openness, gross capital formation, inflation and government expenditure. Fixed Effects panel regression was used after the Hausman Test revealed that the FEM was the most appropriate model. The outcome of the study revealed that FDI does not have a statistically significant impact on GDP without the interaction with financial sector development. However, the effects were amplified when financial sector development is introduced in the model. With the presence of financial sector development, FDI had a positive and statistically significant impact on GDP and at the same time financial sector development had a positive impact on GDP. Recommendations emanating from the study encourage monetary authorities to strengthen their financial services sector so as to fully benefit from FDI.
