Template-Type: ReDIF-Article 1.0
Author-Name: Mei Foong Wong
Author-X-Name-First: Mei Foong
Author-X-Name-Last: Wong
Author-Name: Chang Kah Fai
Author-X-Name-First: Chang Kah
Author-X-Name-Last: Fai
Author-Name: Yong Chen Yee
Author-X-Name-First: Yong Chen
Author-X-Name-Last: Yee
Author-Name: Lum Sook Cheng
Author-X-Name-First: Lum Sook
Author-X-Name-Last: Cheng
Title: Macroeconomic policy and exchange rate impacts on the foreign direct investment in ASEAN economies
Abstract:
ASEAN region has become one of the most attractive investment regions in the developing world which attracted significant amount of foreign direct investment (FDI) stock. Nevertheless, FDI inflows of the ASEAN region has shown increasing volatility which has given a renewed stimulus to research interest in the linkages between the macroeconomic policies, exchange rate and FDI inflows in ASEAN economies. This study examines the long-run relationship between macroeconomic policy, exchange rate and foreign direct investment in the selected ASEAN-four-plus-one countries from 1995 to 2015. The analysis was based on the panel unit root test, panel cointegration test, fully modified ordinary least squares estimator and dynamic ordinary least squares estimator. The results demonstrate that fiscal and monetary policies, exchange rate and FDI are cointegrated for the whole panel of countries. Furthermore, the panel estimators reveal that the relationship between macroeconomic policy, exchange rate and FDI is positive and statistically significant.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 1-10
Issue: 1
Volume: 12
Year: 2019
Keywords: foreign direct investment; FDI; macroeconomic policy; exchange rate; ASEAN economies.
File-URL: http://www.inderscience.com/link.php?id=98629
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:1-10

Template-Type: ReDIF-Article 1.0
Author-Name: Ekaterina Y. Аrapova
Author-X-Name-First: Ekaterina Y.
Author-X-Name-Last: Аrapova
Author-Name: Tatiana M. Isachenko
Author-X-Name-First: Tatiana M.
Author-X-Name-Last: Isachenko
Title: Russian trade policy: main trends and impact on bilateral trade flows
Abstract:
The paper provides a comprehensive analysis of current Russian foreign trade policy and evaluates empirically its influence on the country's trade flows. First, it considers the role of trade in the country's economic development. Second, it examines the evolution of the trade policy and the effect of the WTO accession process on its development. Third, Russian foreign trade policy is contextualised in broader regional perspective, looking at relations with EAEU partners, EU, APEC and BRICS. Finally, the authors explore the impact of 'sanctions' on Russian trade. The authors apply an augmented gravity model to explore the influence of the Russian foreign trade policy on bilateral trade flows. They conclude that tariff liberalisation may increase foreign trade, WTO accession asserted a significant positive influence on the Russia's trade flows, and economic sanctions hurt Russian exporters significantly. Trade with APEC partners is relatively more promising than with BRICS, EU or EAEU.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 26-48
Issue: 1
Volume: 12
Year: 2019
Keywords: trade policy; foreign economic policy; competitiveness; foreign markets; WTO accession; multilateral trading system; Eurasian Economic Union; BRICS; value-added chains; sanctions; gravity model.
File-URL: http://www.inderscience.com/link.php?id=98684
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:26-48

Template-Type: ReDIF-Article 1.0
Author-Name: Usama Laique
Author-X-Name-First: Usama
Author-X-Name-Last: Laique
Author-Name: Fahad Abdullah
Author-X-Name-First: Fahad
Author-X-Name-Last: Abdullah
Author-Name: Shahwali Khan
Author-X-Name-First: Shahwali
Author-X-Name-Last: Khan
Author-Name: Ijaz Ur Rehman
Author-X-Name-First: Ijaz Ur
Author-X-Name-Last: Rehman
Title: Economic progression of ASEAN - a comparative analysis of selected ASEAN economies
Abstract:
This study investigates the association of macroeconomic variables with economic growth of ASEAN-5 (Indonesia, Malaysia, Singapore, Thailand and Philippines) using annual time series data over the period of 1971 to 2017. We applied Johansen co-integration and vector error correction framework to investigate the impact of energy use, trade openness, financial and infrastructure development on growth. Our empirical evidence validates energy lead growth hypothesis in all five economies. Infrastructure development impacts economic growth positively in all countries excluding Malaysia in the long-run. The impact of financial development on economic growth of Singapore was relatively greater than the rest of the ASEAN-5 countries. The association of trade openness was positive with the economic growth of Malaysia, Singapore, Philippines, and Thailand in the long-run. The maximum speed of adjustment to long-run equilibrium was recorded for Thailand.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 62-84
Issue: 1
Volume: 12
Year: 2019
Keywords: ASEAN-5; impulse response function; VECM; ADF.
File-URL: http://www.inderscience.com/link.php?id=98701
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:62-84

Template-Type: ReDIF-Article 1.0
Author-Name: Bogdan Mróz
Author-X-Name-First: Bogdan
Author-X-Name-Last: Mróz
Title: Bridging the tax gap in Poland
Abstract:
The basic objective of the paper is to highlight the attempts to reduce the size of the tax gap undertaken by Poland's fiscal authorities. The paper focuses on measures aimed at curbing the shadow economy activities and tax evasion (including VAT extortion). To this aim diverse data sources have been used including latest available research findings, government's data, think tanks reports and other sources. The author draws also upon the findings of the project focused on combating the shadow economy conducted under the auspices of the UN Global Compact Program and Polish Ministry of Finance. The paper provides examples of recent initiatives and different policy measures taken to narrow the tax gap and restrict the shadow economy in Poland. In the final section of the paper the author discusses possible policy options referring to the curtailment of the shadow economy and tax evasion activities.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 49-61
Issue: 1
Volume: 12
Year: 2019
Keywords: tax gap; shadow economy; tax evasion; tax avoidance; Poland.
File-URL: http://www.inderscience.com/link.php?id=98702
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:49-61

Template-Type: ReDIF-Article 1.0
Author-Name: Andrey I. Pilipenko
Author-X-Name-First: Andrey I.
Author-X-Name-Last: Pilipenko
Author-Name: Vasily I. Dikhtiar
Author-X-Name-First: Vasily I.
Author-X-Name-Last: Dikhtiar
Author-Name: Nina M. Baranova
Author-X-Name-First: Nina M.
Author-X-Name-Last: Baranova
Title: 'Financial stability' safeguarding: modelling the Russian budgetary policy
Abstract:
This article represents the attempt to formalise evaluation of the public fiscal policy impact on the financial stability of Russian economy. The problem of the direct relationship between financial stability as a kind of public goods and budgetary consolidation in connection with safeguarding it by the government has not been solved. The case of Russia has been taken because its economic dynamics leg twice behind the world economy with its 2.5-3%' growth rates in the short term and the western sanctions against the Russian Federation objectively put forward the necessity for researchers and politicians to investigate the problem of financial stability safeguarding of the country, isolated from the global division of labour. In this case the Russian budgetary and tax policy' modelling turns out to be very promising for fiscal policy-making as to its impact' evaluation on financial stability safeguarding. To reinforce the findings, some results associated with other theoretical investigations and analytical researches are presented.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 85-99
Issue: 1
Volume: 12
Year: 2019
Keywords: safeguarding financial stability; budgetary and tax policy; fiscal multipliers' models; monetary policy; fiscal policy; stabilisation of unstable economy.
File-URL: http://www.inderscience.com/link.php?id=98703
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:85-99

Template-Type: ReDIF-Article 1.0
Author-Name: Sung-Eun Cho
Author-X-Name-First: Sung-Eun
Author-X-Name-Last: Cho
Author-Name: Young-Min Lee
Author-X-Name-First: Young-Min
Author-X-Name-Last: Lee
Title: Classification of elderly workers for support policies customised for each target group
Abstract:
Although the elderly population is growing, the elderly afford to pay for their living expenses after retirement with public pensions alone. In addition, more than half of the elderly population has indicated that they have insufficient old age guaranteed. As a result, many elderly people hope to remain in the labour market and continue working even after legal retirement age. For continuous working, appropriate employment policy is needed. However, as the current employment policies are mostly focused on reemployment of wage earners. The purpose of this study is to suggest support plans for the continuous working of elderly workers according to their particular characteristics. For the purpose, we conducted a cluster analysis of 663 elderly workers and classified elderly workers into three types. In the conclusion, we have proposed a support plan for those still in the labour market that fits the characteristics of the elderly worker types.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 11-25
Issue: 1
Volume: 12
Year: 2019
Keywords: the middle-aged and elderly; elderly workers; retirement; aging.
File-URL: http://www.inderscience.com/link.php?id=98704
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:11-25

Template-Type: ReDIF-Article 1.0
Author-Name: Ludfi Djajanto
Author-X-Name-First: Ludfi
Author-X-Name-Last: Djajanto
Author-Name: Yunia Afiatin
Author-X-Name-First: Yunia
Author-X-Name-Last: Afiatin
Author-Name: Zainal Abdul Haris
Author-X-Name-First: Zainal Abdul
Author-X-Name-Last: Haris
Title: The impact of relationship marketing on customer value, satisfaction and loyalty: evidence from banking sector in Indonesia
Abstract:
Indonesia's business community and banks of Indonesia have been contributing significantly to the development of the nation's emerging economy. This paper analyses the impact of relationship marketing on customer value, customer satisfaction, and loyalty in Indonesia's banking sector. Partial least square (PLS) tests conducted on data collected through a survey of 160 customers of banks in Surabaya and Malang have revealed that although relationship marketing does not influence customer satisfaction and loyalty significantly, it does do so with respect to customer value. Furthermore, there exist positively significant relationships between customer value and customer satisfaction and loyalty.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 207-214
Issue: 2
Volume: 12
Year: 2019
Keywords: relationship marketing; customer value; customer satisfaction; customer loyalty; banking sector; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=99695
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:207-214

Template-Type: ReDIF-Article 1.0
Author-Name: Sang-Lyul Ryu
Author-X-Name-First: Sang-Lyul
Author-X-Name-Last: Ryu
Author-Name: Jayoun Won
Author-X-Name-First: Jayoun
Author-X-Name-Last: Won
Title: Scale economies in the Korean airline industry since the entry of low-cost carriers
Abstract:
This paper investigates how the economies of scale in the Korean airline industry have changed since the emergence of low-cost carriers (LCCs). Our sample consists of 66 firm-years from 2008 to 2017. We estimate the translog cost function (TCF) to determine the changes in scale economies during the sample period. The TCF represented airlines' cost function more appropriately than the Cobb-Douglas model. The estimated cost function suggests that overall economies of scale have prevailed in the Korean airline industry since the entry of LCCs. Depending on the type of airline business, scale economies seem to be exhausted for full-service carriers, whereas LCCs have enjoyed economies of scale.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 149-157
Issue: 2
Volume: 12
Year: 2019
Keywords: airline industry; full-service carriers; low-cost carriers; LCCs; economies of scale.
File-URL: http://www.inderscience.com/link.php?id=99696
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:149-157

Template-Type: ReDIF-Article 1.0
Author-Name: Pratami Wulan Tresna
Author-X-Name-First: Pratami Wulan
Author-X-Name-Last: Tresna
Author-Name: Arianis Chan
Author-X-Name-First: Arianis
Author-X-Name-Last: Chan
Author-Name: Mohammad Benny Alexandri
Author-X-Name-First: Mohammad Benny
Author-X-Name-Last: Alexandri
Title: Place branding as Bandung City's competitive advantage
Abstract:
This study aims to see the place branding of Bandung as a competitive advantage of the city. This study uses the qualitative method to confirm place branding as Bandung City's competitive advantage. The participants in this study are people who understand the branding strategy of this city. Place branding is viewed from the dimensions of presence, place, potential, pulse and people. Results show that Bandung is renowned as a creative city that has many historical places, complete facilities, easy access and offers many interesting activities, low cost of living and varied culinary products. Bandung is also known as a friendly city. Therefore, place branding in a city will result in the popularity of various places, thereby leading people to support the management of a city to gain competitive advantage.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 182-189
Issue: 2
Volume: 12
Year: 2019
Keywords: place branding; creative city; tourism; competitive advantage.
File-URL: http://www.inderscience.com/link.php?id=99698
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:182-189

Template-Type: ReDIF-Article 1.0
Author-Name: Nnanna P. Azu
Author-X-Name-First: Nnanna P.
Author-X-Name-Last: Azu
Title: Trade realignment position in ECOWAS with gravity model
Abstract:
This paper assesses the realignment position of trade in West African region with respect to the emergence of China and India vis-a-vis trade flow with traditional trade partners. Applying PPML technique with importer, exporter, and year fixed effect, the bilateral trade effects between ECOWAS and her trade partners are captured with dummy. These allow trades to be represented from both sides of its occurrences (import and export) rather than viewing from one side of it. Results revealed that ECOWAS trade with her emerging and traditional trade partner increased over time but rate of increases are reducing with the traditional partners - China and India are accumulating more market shares towards displacing these old friends. Given the trend, in no long time, there could be a fundamental realignment of trade from traditional trade partners for envisaged reliance on China and India.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 103-112
Issue: 2
Volume: 12
Year: 2019
Keywords: gravity; realignment; trade; Poisson; China; India; ECOWAS.
File-URL: http://www.inderscience.com/link.php?id=99711
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:103-112

Template-Type: ReDIF-Article 1.0
Author-Name: Dedhy Sulistiawan
Author-X-Name-First: Dedhy
Author-X-Name-Last: Sulistiawan
Author-Name: Felizia Arni Rudiawarni
Author-X-Name-First: Felizia Arni
Author-X-Name-Last: Rudiawarni
Title: Industrial competition and earnings quality in Indonesia
Abstract:
This study examines how the industrial competition affects earnings quality. Our study supports the idea of declining earnings quality when firms' risk increases. We expect that low industrial competition or high market concentration decrease firms' risk by generating more stable revenue for companies. This condition stimulates increasing earnings response coefficient (ERC). Generally, using data from Indonesia, our results show that market concentration affects the relation between earnings surprise and excess return. Further, we find that firms in industries with high market concentration generate higher ERC, especially for profit firms. It means, investors are more likely to use positive earnings data for firms in high market concentration industries in reacting earnings surprise. Our paper contributes to market concentration and ERC studies, especially in Indonesia as one of emerging markets. Low industrial competition improves earnings informativeness.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 121-129
Issue: 2
Volume: 12
Year: 2019
Keywords: market concentration; earnings response coefficient; ERC; industrial competition; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=99727
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:121-129

Template-Type: ReDIF-Article 1.0
Author-Name: Cherdpong Kheerajit
Author-X-Name-First: Cherdpong
Author-X-Name-Last: Kheerajit
Author-Name: Sarinya Paisarnsombat
Author-X-Name-First: Sarinya
Author-X-Name-Last: Paisarnsombat
Author-Name: Narong Sompong
Author-X-Name-First: Narong
Author-X-Name-Last: Sompong
Title: Integrated media for public relations of promoting a local product to global markets: a case analysis on Thai food
Abstract:
This research aims to disseminate and promote Thai food to global market using the integrated media includes video, website, application and publication with Augmented Reality (AR). The studies were held in Japan and the USA. After the samples were exposed to the integrated media, the evaluation forms were used for evaluating their opinions toward the media. The results showed that the participants are mostly satisfied with the AR as well as the contents and the usefulness of the media at the high level. Moreover, the results showed that the integrated media can implement the promoting of Thai food businesses.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 190-197
Issue: 2
Volume: 12
Year: 2019
Keywords: Thai cuisine; media development; media evaluation.
File-URL: http://www.inderscience.com/link.php?id=99729
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:190-197

Template-Type: ReDIF-Article 1.0
Author-Name: Muddasar Ghani Khwaja
Author-X-Name-First: Muddasar Ghani
Author-X-Name-Last: Khwaja
Author-Name: Ahmad Jusoh
Author-X-Name-First: Ahmad
Author-X-Name-Last: Jusoh
Author-Name: Khalil Md Nor
Author-X-Name-First: Khalil Md
Author-X-Name-Last: Nor
Title: Does online social presence lead to purchase intentions?
Abstract:
Social commerce activities on the online platforms are on the rise due to expanded canvas of social media marketing. The online sales and purchase mechanisms have altered conventional buying practices. Especially in the emerging markets, online purchasing due to social commerce is on the rise. Due to extended social exchange activities on social networking sites, the purchase intentions of individuals have been increased. The creation of trust by the seller's end is a vital component to be explored since presence of numerous online selling platforms raises concerns of authenticity. The current study focuses on determining the effects of social presence on purchase intentions with the mediation effects of trust in the emerging market of Pakistan. Data from 327 respondents was collected in this regard and structural equation modelling (SEM) using AMOS was conducted in order to examine causal relationship among the constructs.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 198-206
Issue: 2
Volume: 12
Year: 2019
Keywords: social presence; purchase intentions; trust; social media marketing.
File-URL: http://www.inderscience.com/link.php?id=99730
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:198-206

Template-Type: ReDIF-Article 1.0
Author-Name: Ekaterina Ogorodnikova
Author-X-Name-First: Ekaterina
Author-X-Name-Last: Ogorodnikova
Author-Name: Alexander Sidorenko
Author-X-Name-First: Alexander
Author-X-Name-Last: Sidorenko
Author-Name: Andrey Plakhin
Author-X-Name-First: Andrey
Author-X-Name-Last: Plakhin
Title: Competitive analysis of public urban transport
Abstract:
The paper presents the results of a study of the level of competitiveness of public urban transport using the example of Ekaterinburg (Russian Federation). The study methodology assumes a two-stage assessment by consumers of public transport types in Ekaterinburg. The two stages are competitiveness comparative assessment and its increasing trend ranking. The strategic ways of overcoming the current situation in the medium term have been determined.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 140-148
Issue: 2
Volume: 12
Year: 2019
Keywords: competition of public urban transport; competitive analysis; assessing the competitiveness.
File-URL: http://www.inderscience.com/link.php?id=99731
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:140-148

Template-Type: ReDIF-Article 1.0
Author-Name: Nenden Kostini
Author-X-Name-First: Nenden
Author-X-Name-Last: Kostini
Author-Name: Sam'un Jaja Raharja
Author-X-Name-First: Sam'un Jaja
Author-X-Name-Last: Raharja
Title: Financial strategy of small and medium businesses on the creative industry in Bandung, Indonesia
Abstract:
The role of small and medium enterprises (SMEs) is one aspect that encourages economic growth and development, whilst SMEs in the creative industry sector are important income generators. However, SMEs in the creative industry in Bandung, Indonesia are facing problems in terms of corporate finance. This study uses descriptive analysis as the research method and aims to formulate financial strategies that can be used by SMEs. The financial strategies for SMEs in the creative industry include as follows based on strength, weakness, opportunities and threat analysis: communicating with the relevant stakeholders, following partnership programs, improving and developing financial management and records, settling financial obligations and safeguarding the trust of the creditor and using loans for venture capital.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 130-139
Issue: 2
Volume: 12
Year: 2019
Keywords: financial strategy; creative industry; small and medium enterprises; SMEs; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=99732
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:130-139

Template-Type: ReDIF-Article 1.0
Author-Name: Sareeya Wichitsathian
Author-X-Name-First: Sareeya
Author-X-Name-Last: Wichitsathian
Title: Working capital management and its impacts on profitability: the case of small and medium food enterprises in Nakhon Ratchasima, Thailand
Abstract:
This is mixed qualitative and quantitative research of SMEs food enterprises which conducted in Thailand. Qualitative research is applied aims to investigate WCM system of firms. The results reveal that food enterprises generally set goal considered liquidity, risk and profits. Moreover, businesses have developed the suitable policy and WCM strategy and are able to achieve the WCM goal in operational evaluation. Second phrase using path analysis focuses on the impact of WCM on profitability by using financial ratios and time period of cash as indicators to assess WCM efficiency of firms. The result shows that the proposed model has an impact on profitability and conforms to the collected empirical data. The company is able to increase its profitability by aiming at high liquidity in working capital management. In addition, shortening receivable collection period and inventory conversion period along with extending payable deferral period help also to gain higher profit.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 113-120
Issue: 2
Volume: 12
Year: 2019
Keywords: working capital management; WCM; profitability; food sector; small and medium enterprises; SMEs; Thailand.
File-URL: http://www.inderscience.com/link.php?id=99733
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:113-120

Template-Type: ReDIF-Article 1.0
Author-Name: Victoria Sundari Handoko
Author-X-Name-First: Victoria Sundari
Author-X-Name-Last: Handoko
Title: Domination among tour operators in Karst conservation area of Goa Pindul, Indonesia
Abstract:
The karst area of <i>Goa Pindul</i> has been 'commercially promoted' and exploited to meet the tourism demand. <i>Goa Pindul</i> becomes a space contested by tour operators. Domination among tour operators has created inequality in the community. This ethnographic research was conducted to investigate how competition and dominance occur among tour operators in tourism market. The results of this study indicate that the government should create <i>the rules of the game</i> in accordance with the ideal vision of the sustainable development of karst areas of <i>Goa Pindul</i>.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 175-181
Issue: 2
Volume: 12
Year: 2019
Keywords: competition; domination; tourism market; rules of the game; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=99734
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:175-181

Template-Type: ReDIF-Article 1.0
Author-Name: Wen-Cheng Chu
Author-X-Name-First: Wen-Cheng
Author-X-Name-Last: Chu
Author-Name: Cedric Hsi-Jui Wu
Author-X-Name-First: Cedric Hsi-Jui
Author-X-Name-Last: Wu
Author-Name: Chen-Hsiung Chou
Author-X-Name-First: Chen-Hsiung
Author-X-Name-Last: Chou
Author-Name: Yi-Ting Chu
Author-X-Name-First: Yi-Ting
Author-X-Name-Last: Chu
Author-Name: Yi-Chi Chu
Author-X-Name-First: Yi-Chi
Author-X-Name-Last: Chu
Author-Name: Shu-Hui Chang
Author-X-Name-First: Shu-Hui
Author-X-Name-Last: Chang
Title: The effects of skills and challenges, perceived risk, and flow experience on experience value and satisfaction - a study on adventure recreation in Taiwan
Abstract:
This paper utilised a questionnaire to study the impact of experience value and satisfaction linked to adventure recreation for Taiwan's economic development and for policy development in emerging economies. There were 480 participants who took part in adventure recreation in Taiwan. PLS measurement of the model revealed the GOF was 0.369, while the SRMR was 0.051, reaching a significant level. The whole model can explain 56.1% of satisfaction and 59.7% of experience value, showing the model is excellent.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 215-226
Issue: 2
Volume: 12
Year: 2019
Keywords: adventure recreation; partial least squares; PLS; goodness of fit; GOF; SRMR.
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:215-226

Template-Type: ReDIF-Article 1.0
Author-Name: Mohamad Khusaini
Author-X-Name-First: Mohamad
Author-X-Name-Last: Khusaini
Title: Does bureaucracy lead to economic development in ASEAN?
Abstract:
Bureaucracy issue is a challenge to the economic management of the countries in the world. In many studies, bureaucracy can affect a country's economic development. Inefficient bureaucracy will create a high cost economy and decrease investment in which eventually it may obstruct the economic growth. This research aims at analysing the effect of bureaucracy, investment, and government spending on the economic development. By using multiple regression analysis with Fixed Effect Model, the results indicate that investment and government spending have positive effect on the gross domestic product (GDP), while the index of bureaucracy shows varying results in affecting GDP.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 166-174
Issue: 2
Volume: 12
Year: 2019
Keywords: bureaucracy; government spending; economic development.
File-URL: http://www.inderscience.com/link.php?id=99736
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:166-174

Template-Type: ReDIF-Article 1.0
Author-Name: Moon-Hee Shin
Author-X-Name-First: Moon-Hee
Author-X-Name-Last: Shin
Author-Name: Young-Min Lee
Author-X-Name-First: Young-Min
Author-X-Name-Last: Lee
Title: Analyses on the determinants of elderly workers' plans to retire and desired retirement age
Abstract:
This study analyses the determinants affecting elderly workers' plans to retire and their desired retirement age, in order to better understand and prepare for their retirement and establish supportive policies. Eighteen years of personal data and additional survey data, provided by the Korean Labor % Income Panel Study, were used for this study. The results of the analysis showed that factors having a significant impact on elderly workers' plans to retire were gender, age, marital status, gross annual earned income after taxes in the past year, subjective health conditions, employment status, financial preparedness for retirement, level of social participation, and overall life satisfaction. The research also revealed that gender, age, education level, marital status, subjective health condition, employment status, and level of social participation impact desired retirement age. Based on the above research results, discussions are offered on policy implications.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 158-165
Issue: 2
Volume: 12
Year: 2019
Keywords: elderly workers; retirement; retirement age.
File-URL: http://www.inderscience.com/link.php?id=99737
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:2:p:158-165

Template-Type: ReDIF-Article 1.0
Author-Name: Barnabas Olusegun Obasaju
Author-X-Name-First: Barnabas Olusegun
Author-X-Name-Last: Obasaju
Author-Name: Wumi Kolawole Olayiwola
Author-X-Name-First: Wumi Kolawole
Author-X-Name-Last: Olayiwola
Author-Name: Henry Okodua
Author-X-Name-First: Henry
Author-X-Name-Last: Okodua
Author-Name: Babatunde Sunday Adekunle
Author-X-Name-First: Babatunde Sunday
Author-X-Name-Last: Adekunle
Title: Regional economic integration and the backward integration of ECOWAS sub-region into global value chains
Abstract:
This paper examines the impact the economic community of West African States (ECOWAS) as a regional economic community (REC) has exerted on the backward integration of her member states into global value chains between 2007 and 2012. The conventional indicator of regional economic integration is compared vis-á-vis a relatively newly proposed indicator in order to investigate which one performs better in respect of economic expectations. Using the systems generalised method of moments, this study finds that the newly proposed indicator, which uses the rest of the world as the benchmark rather than the world while measuring the indicator of regional economic integration, outperforms its counterpart. Estimates also show that although ECOWAS as a REC has contributed positively to her members' backward integration into GVCs, this contribution is not statistically significant. To enhance members' access to the needed quality inputs via the backward integration, more intensified efforts are needed from this REC.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 243-263
Issue: 3
Volume: 12
Year: 2019
Keywords: regional economic integration; global value chains; GVCs; backward integration; systems GMM.
File-URL: http://www.inderscience.com/link.php?id=102774
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:3:p:243-263

Template-Type: ReDIF-Article 1.0
Author-Name: Imtiaz Badshah
Author-X-Name-First: Imtiaz
Author-X-Name-Last: Badshah
Author-Name: Maaheen Ahmad
Author-X-Name-First: Maaheen
Author-X-Name-Last: Ahmad
Author-Name: Khalifa Hmood Jaber
Author-X-Name-First: Khalifa Hmood
Author-X-Name-Last: Jaber
Title: Are interest rates alone enough to understand stock returns in the Islamic Republic of Pakistan?
Abstract:
The purpose of this paper is to understand the volatility of interest rates and the relationship between interest rates and stock returns under three political regimes in Pakistan. The wealth of literature discussing the volatility of interest rates and stock returns provided the theoretical basis for this inquiry. This research is therefore deductive in nature and situated within a positivist philosophical paradigm. This research is unique in its methodological approach, dividing the study period into three short periods (2002-2008, 2008-2013 and 2013-2016) based upon the political regimes in the country, which leads to interesting findings. Regression analyses are used to investigate the relationship between interest rates and stock returns. This research contributes additional insights into the relationship between interest rates and stock returns in Pakistan. Factors, such as political regimes, the relationship between political regimes and international investors and organisations, and the law and order situation etc play greater role.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 227-242
Issue: 3
Volume: 12
Year: 2019
Keywords: interest rates; stock returns; volatility; quantitative approach; politics; monetary policy; Pakistan.
File-URL: http://www.inderscience.com/link.php?id=102775
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:3:p:227-242

Template-Type: ReDIF-Article 1.0
Author-Name: Mangirdas Morkunas
Author-X-Name-First: Mangirdas
Author-X-Name-Last: Morkunas
Author-Name: Artiom Volkov
Author-X-Name-First: Artiom
Author-X-Name-Last: Volkov
Author-Name: Elze Rudiene
Author-X-Name-First: Elze
Author-X-Name-Last: Rudiene
Author-Name: Viktorija Skvarciany
Author-X-Name-First: Viktorija
Author-X-Name-Last: Skvarciany
Title: Joint venture as a risk management tool: experience from construction sector
Abstract:
This study aims at examining the possibility of using a joint venture as a risk management tool for companies engaged in the construction business. Based on completely different risk map of a stand-alone and joint venture companies and using the analytical hierarchy process model method for evaluating the importance of particular risk factors for both cases we found, that depending on a company's ability to deal with different types of business risks, joint venture can be used as a risk management tool in particular situations. The results deviation from classical risk management literature has been found, that can be attributed to new theory applicable to small open economies in Central and Eastern Europe.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 285-298
Issue: 3
Volume: 12
Year: 2019
Keywords: business risk; joint venture; construction; analytical hierarchy process.
File-URL: http://www.inderscience.com/link.php?id=102779
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:3:p:285-298

Template-Type: ReDIF-Article 1.0
Author-Name: Sri Indah Nikensari
Author-X-Name-First: Sri Indah
Author-X-Name-Last: Nikensari
Author-Name: Purbayu Budi Santosa
Author-X-Name-First: Purbayu Budi
Author-X-Name-Last: Santosa
Author-Name: F.X. Sugiyanto
Author-X-Name-First: F.X.
Author-X-Name-Last: Sugiyanto
Title: Economic stagnation in emerging market countries: should this justify Keynes's law?
Abstract:
This study aims to determine the aggregate demand factors that affect economic stagnation in middle-income emerging market countries, and whether Keynes's law can be a solution to solve the problem with increase demand. Using panel data from official sources such as the World Bank, several factors were tested to determine the effect on economic stagnation, at the 2010-2015 and 2010-2016 periods. By employing panel data modelling (with fixed effect model), the findings suggest that the decrease in household consumption, weak foreign investment, inefficient government spending and decreased export competitiveness have a significant positive effect on economic stagnation, while a low inflation rate has an insignificant effect on household consumption, as well as high lending interest rate have an insignificant effect on the decrease in the inflow of foreign direct investment. Therefore, Keynes's law must be applied appropriately by increasing aggregate demand to encourage declining economic growth through government interference.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 299-314
Issue: 3
Volume: 12
Year: 2019
Keywords: stagnation; emerging market; aggregate side; Keynes's law.
File-URL: http://www.inderscience.com/link.php?id=102780
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:3:p:299-314

Template-Type: ReDIF-Article 1.0
Author-Name: Abdelghani Remache
Author-X-Name-First: Abdelghani
Author-X-Name-Last: Remache
Author-Name: Abdelhafid Belarbi
Author-X-Name-First: Abdelhafid
Author-X-Name-Last: Belarbi
Title: Adapting ICT in higher education in the developing world: influencing dynamics
Abstract:
The frenzy of information and digital communications marked the 21st century by modernising societies and levering living standards. Policy makers of all economic spheres in the developed world reckon that information and communication technology (ICT) investment fosters economic development and performance. Recent studies in the USA and Europe indicate that investing in ICT helps achieve high growth rates in every sector of the economy. Building on recent literature reviews, this paper argues for the importance of ICT integration in higher education institutions (HEIs) in the developing world and proposes some of the major influencing factors that can help translate ICT integration into reality and serve as a major stimulant for economic development. The paper also reveals how investing in ICT enhances economic performance while focusing on the specific opportunities and the challenges obstructing the acquisition and adoption of ICT by the developing nations.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 264-284
Issue: 3
Volume: 12
Year: 2019
Keywords: ICT integration; economic growth; higher education; influencing dynamics; developing countries.
File-URL: http://www.inderscience.com/link.php?id=102781
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Handle: RePEc:ids:ijepee:v:12:y:2019:i:3:p:264-284