Template-Type: ReDIF-Article 1.0
Author-Name: Onyinye I. Anthony-Orji
Author-X-Name-First: Onyinye I.
Author-X-Name-Last: Anthony-Orji
Author-Name: Anthony Orji
Author-X-Name-First: Anthony
Author-X-Name-Last: Orji
Author-Name: Jonathan E. Ogbuabor
Author-X-Name-First: Jonathan E.
Author-X-Name-Last: Ogbuabor
Author-Name: Emmanuel O. Nwosu
Author-X-Name-First: Emmanuel O.
Author-X-Name-Last: Nwosu
Title: Do financial stability and institutional quality have impact on financial inclusion in developing economies? A new evidence from Nigeria
Abstract:
This paper investigates the empirical linkages among financial stability, institutional quality and financial inclusion in Nigeria using quarterly data from 1986-2013. For empirical analysis, the study applies the autoregressive distributed lag model based on unrestricted error correction model (ARDL-UECM). First, the results show evidence that financial stability has significant impact on financial inclusion in the long run period but not in the short run. Second, the study reveals that institutional quality has significant impact on financial inclusion in the long run period and in the short run. Having found that financial stability and institutional quality are positively related to financial inclusion in the long run, the study therefore recommends that the government and policymakers pursuing the agenda of financial inclusion should pay attention not only to the financial and economic indicators but also to institutional factors existing in the country since they interact in creating a harmonised and sustainable developmental trajectory. In a country where the economic, legal, judicial and political institutions are very weak, many households (savers) and firms (borrowers/investors) may not be protected when there are issues of financial contract enforcements or breaches within the economy.
Journal: Int. J. of Sustainable Economy
Pages: 18-40
Issue: 1
Volume: 11
Year: 2019
Keywords: financial stability; institutional quality; financial inclusion; autoregressive distributed lag; ARDL.
File-URL: http://www.inderscience.com/link.php?id=96541
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:1:p:18-40
Template-Type: ReDIF-Article 1.0
Author-Name: Marko Senekovič
Author-X-Name-First: Marko
Author-X-Name-Last: Senekovič
Author-Name: Alenka Kavkler
Author-X-Name-First: Alenka
Author-X-Name-Last: Kavkler
Author-Name: Jani Bekő
Author-X-Name-First: Jani
Author-X-Name-Last: Bekő
Title: How important is fiscal stimulus for economic growth? Empirical evidence from G7 countries
Abstract:
This paper contributes to the existing discussion on the quantitative power of fiscal stimulus in the creation of economic growth in two ways. Firstly, by applying structural vector autoregression, our study focuses on assessing the size of the fiscal multipliers in the group of G7 countries. Secondly, using a new dataset for all seven countries in the sample, our study updates the existing empirical record of the extent of fiscal effects on the economic activity. The results indicate empirical relevance of the mechanism of the fiscal multiplier even though estimated values of the fiscal multipliers do not exceed unity in all cases. One-time positive shock in government consumption affects the aggregate output to a greater extent than domestic price level and interest rates. Our findings suggest a non-negligible capacity of the stimulation-designed budgetary policy in the economically strongest countries to boost short-term economic growth.
Journal: Int. J. of Sustainable Economy
Pages: 1-17
Issue: 1
Volume: 11
Year: 2019
Keywords: fiscal multiplier; fiscal policy; G7 countries; SVAR.
File-URL: http://www.inderscience.com/link.php?id=96548
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:1:p:1-17
Template-Type: ReDIF-Article 1.0
Author-Name: Salvador Sandoval Bravo
Author-X-Name-First: Salvador Sandoval
Author-X-Name-Last: Bravo
Title: Cross-border pollution in an asymmetric trade competition
Abstract:
The present study develops a reciprocal dumping model between two different-sized countries, each with a monopolist company in a homogenous good market operating under conditions of cross-border pollution. Two environmental regulation instruments will be used: pollution quotas and compensatory tariffs. The optimal values of said variables will be determined, while the strategic environmental policies derived from said optimal values will be deduced. The mainly result show that if the disutility of polluting is significantly high in relation to the abatement cost, then governments impose severe controls through environmental policy, such as a zero pollution quota on companies or even an onerous compensatory tariff.
Journal: Int. J. of Sustainable Economy
Pages: 41-60
Issue: 1
Volume: 11
Year: 2019
Keywords: cross-border pollution; asymmetric trade competition; pollution quota; compensatory tariff.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:1:p:41-60
Template-Type: ReDIF-Article 1.0
Author-Name: Poulomi Bhattacharya
Author-X-Name-First: Poulomi
Author-X-Name-Last: Bhattacharya
Title: Determinants of export competitiveness of fresh fruits in India
Abstract:
This paper tries to examine the determinants of export competitiveness of major fruits in India using annual data from 1971 to 2012. While few studies discuss the overall competitiveness of agricultural commodities in India, there is hardly any attempt made to examine the competitiveness of fresh fruits and its determinants. The results based on ARDL model find a long-run relationship between export competitiveness of fruits along with its major determinants. The results obtained from the long-run elasticity show that per capita GDP of major fruits importing countries, domestic price of fruits, investment in agricultural sector, and real effective exchange rate significantly influence the export competitiveness of fresh fruits in India. Influence of such demand side factors on fresh fruits competitiveness emphasises the role of tapping new markets for fresh fruit exports from India. The findings of this study call for government patronage towards ensuring the quality standards of fresh fruits to make the product acceptable in the international market.
Journal: Int. J. of Sustainable Economy
Pages: 61-80
Issue: 1
Volume: 11
Year: 2019
Keywords: fresh fruits competitiveness; price; per capita GDP; Narayan and Popp unit root test; ARDL model; error correction model; India.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:1:p:61-80
Template-Type: ReDIF-Article 1.0
Author-Name: Patricia Blatnik
Author-X-Name-First: Patricia
Author-X-Name-Last: Blatnik
Author-Name: Štefan Bojnec
Author-X-Name-First: Štefan
Author-X-Name-Last: Bojnec
Title: Estimating the optimal size of secondary healthcare providers in Slovenia
Abstract:
One of the fundamental problems of healthcare systems is how to ensure efficient performance of secondary healthcare providers. Economic efficiency is related to the volume of production therefore, one of the remaining key issues is the optimal size of secondary healthcare providers. The chief goal of our study was to determine the most typical form of long-term cost function and the optimal size of secondary healthcare providers in Slovenia. Our results show that hospitals would function with the lowest possible costs per one unit of output when treating between 188,000 and 243,000 patients annually. The average price of an individual service should be set above the minimum of long-term average costs, indicating that a general hospital is of the optimal size when treating between 246,000 and 275,000 patients annually. Expert knowledge on different types of long-term costs and service prices can be a useful tool for any hospital management. The estimations provided by our study can be usefully employed by management teams of general hospitals primarily during the decision-making processes regarding future business operations.
Journal: Int. J. of Sustainable Economy
Pages: 81-97
Issue: 1
Volume: 11
Year: 2019
Keywords: efficiency; cost function; average costs; marginal costs; price of healthcare services; economies of scale; diseconomies of scale; optimal size; patients; general hospitals; Slovenia.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:1:p:81-97
Template-Type: ReDIF-Article 1.0
Author-Name: Muhammed Adekunle Yusuf
Author-X-Name-First: Muhammed Adekunle
Author-X-Name-Last: Yusuf
Author-Name: Toluwanimi Segun
Author-X-Name-First: Toluwanimi
Author-X-Name-Last: Segun
Title: Effects of macroeconomic shocks on public debt in Nigeria: a nonlinear structural VAR approach
Abstract:
This study employs a public debt identity in a nonlinear structural VAR to appropriately track Nigeria public debt's evolution. It considers effects of shocks to fiscal policy, inflation, output growth, and debt interest rate on the public debt path. We find that shocks to primary deficits and debt interest rate significantly raise the debt-to-GDP ratio, while output growth and inflation significantly reduce it. All shocks to debt are persistent, but their gradual decay suggests a stable, non-explosive debt path. Future debt projections indicate a sustained increase, averaging 23.3% of GDP between 2017 and 2020. Beyond 2020 debt growth begins to slow, eventually stabilising at 28% - the steady state. Given the evidence of persistent effects of macroeconomic shocks on the debt ratio, we recommend combining a macroprudential framework and effective fiscal rules to mitigate exposure to fiscal shocks and promote a low debt profile.
Journal: Int. J. of Sustainable Economy
Pages: 99-120
Issue: 2
Volume: 11
Year: 2019
Keywords: public debt; fiscal policy; nonlinear structural VAR; debt stability; macroeconomic shocks; debt sustainability; Nigeria.
File-URL: http://www.inderscience.com/link.php?id=99037
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:2:p:99-120
Template-Type: ReDIF-Article 1.0
Author-Name: Jani Bekő
Author-X-Name-First: Jani
Author-X-Name-Last: Bekő
Author-Name: Alenka Kavkler
Author-X-Name-First: Alenka
Author-X-Name-Last: Kavkler
Title: Do real exchange rates in small Central and Eastern European economies obey purchasing power parity?
Abstract:
This study contributes to the purchasing power parity (PPP) literature in two ways. First, in order to circumvent the pitfalls of linear specifications in testing the behaviour of exchange rates, we apply a nonlinear unit root test based on the exponential smooth transition autoregressive model. Second, we test the PPP theory for a class of ten Central Eastern European economies comprising the period from January 2001 to December 2016. The results of unit root tests imply that the null hypothesis of non-stationarity of real exchange rates cannot be rejected for the whole period. Our fragmentary evidence on PPP is reduced to individual subsamples for a small number of Central Eastern European countries. The weak evidence on PPP, found in this study, suggests that the process of real integration of Central and Eastern European economies and the subsequent price convergence among European markets remains incomplete.
Journal: Int. J. of Sustainable Economy
Pages: 121-140
Issue: 2
Volume: 11
Year: 2019
Keywords: purchasing power parity; PPP; real exchange rates; nonlinear rolling window unit root test.
File-URL: http://www.inderscience.com/link.php?id=99038
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:2:p:121-140
Template-Type: ReDIF-Article 1.0
Author-Name: Moeti Damane
Author-X-Name-First: Moeti
Author-X-Name-Last: Damane
Author-Name: Maselone Thite
Author-X-Name-First: Maselone
Author-X-Name-Last: Thite
Title: Determinants of the current account balance in Lesotho: a structural vector autoregression analysis
Abstract:
This paper investigates the macroeconomic factors that affect the current account balance in Lesotho and the interrelations among these factors using the structural vector autoregression (SVAR) framework and annual time series data from 1980 to 2015. The main results of the study show that variations in the current account are mostly influenced by own shocks and shocks in the trade balance. Policy recommendations are for the Government of Lesotho (GoL) to encourage and support a deliberate export oriented approach to trade anchored on product diversification and value addition. This will foster competitiveness of Lesotho's exports in the international markets and yield a favourable current account position.
Journal: Int. J. of Sustainable Economy
Pages: 141-166
Issue: 2
Volume: 11
Year: 2019
Keywords: current account balance; structural vector autoregression; SVAR; impulse response function; IRF; forecast error variance decomposition; FEVD; historical decomposition; Lesotho.
File-URL: http://www.inderscience.com/link.php?id=99041
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:2:p:141-166
Template-Type: ReDIF-Article 1.0
Author-Name: Amritkant Mishra
Author-X-Name-First: Amritkant
Author-X-Name-Last: Mishra
Author-Name: Amba Agarwal
Author-X-Name-First: Amba
Author-X-Name-Last: Agarwal
Title: Do infrastructure development and urbanisation lead to rural-urban income inequality? Evidence from some Asian countries
Abstract:
This empirical analysis aspires to unearth the nexus between infrastructure development, urbanisation, and rural-urban income inequality in Asian perspective by reasonably using panel data of nine Asian countries for the specific period of 1991 to 2016. The precise result of panel dynamic ordinary least squares (OLS) proffers that some proxies of infrastructure development like electric power, transport as well as telecommunication lead to a potential reduction in rural-urban income disparity while on the other hand, the water and sanitation access escalate the same. The key variables such as urbanisation and inflation lead to inequality in these specific countries. The ultimate outcome of causality unearths the evidence of unidirectional causality running from inflation to rural-urban income imparity, and bidirectional from urbanisation to rural-urban income inequality. Additionally, it also reveals that there is no causality running from any of the latent variables of infrastructure development towards the inequality or vice-versa.
Journal: Int. J. of Sustainable Economy
Pages: 167-183
Issue: 2
Volume: 11
Year: 2019
Keywords: infrastructure; urbanisation; income inequality; panel dynamic ordinary least squares; OLS; causality.
File-URL: http://www.inderscience.com/link.php?id=99054
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:2:p:167-183
Template-Type: ReDIF-Article 1.0
Author-Name: Sovan Mitra
Author-X-Name-First: Sovan
Author-X-Name-Last: Mitra
Title: Political risk modelling and measurement from stochastic volatility models
Abstract:
The past decades have seen an unprecedented global rise in unforeseen political events, which have led to social unrest, economic declines and a renewed interest in political risk modelling. Whilst continuous time financial models have been developed for a range of risk factors, there is currently no method for political risk modelling. In this paper, we propose a new model for political risk modelling; to the best of our knowledge, this is the first model for continuous time stochastic volatility models. We derive a method for obtaining political risk states from a continuous time stochastic volatility model, and our model enables us to derive the evolution of political risk states over time. We derive two important properties of our political risk model: we find a solution for the characteristic function and prove weak convergence. Next, we derive a method for calculating standard risk measures for our political risk, namely value at risk, variance, moments, as well as upside and downside risk measurement. We also provide numerical experiments to illustrate our results.
Journal: Int. J. of Sustainable Economy
Pages: 184-218
Issue: 2
Volume: 11
Year: 2019
Keywords: stochastic volatility; political risk; social risk; risk measurement; sustainability.
File-URL: http://www.inderscience.com/link.php?id=99064
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:2:p:184-218
Template-Type: ReDIF-Article 1.0
Author-Name: Onder Ozgur
Author-X-Name-First: Onder
Author-X-Name-Last: Ozgur
Author-Name: Muhammed Sehid Gorus
Author-X-Name-First: Muhammed Sehid
Author-X-Name-Last: Gorus
Author-Name: Erdal Tanas Karagol
Author-X-Name-First: Erdal Tanas
Author-X-Name-Last: Karagol
Title: Revisiting current account sustainability in Turkey: analysis via Fourier techniques
Abstract:
The primary purpose of this study is to examine the current account sustainability in Turkey using quarterly data covering the period between 1992:1 and 2017:1. To this end, the study applies two recently developed stationarity and cointegration tests based on intertemporal budget constraint. Both avenues analyse the mean-reverting behaviour of the current account balance using Fourier unit root and cointegration analysis which can scrutinise an unknown number of structural breaks, capture sharp breaks, and approximates them as smooth gradual processes. Empirical findings show that Fourier KPSS unit root test rejects the non-stationarity of current account balance to GDP ratio implying that shocks to current account balance are not persistent. Besides, empirical findings also exhibit weak form sustainability in the short-run whereas its form is strong in the long-run.
Journal: Int. J. of Sustainable Economy
Pages: 219-236
Issue: 3
Volume: 11
Year: 2019
Keywords: cointegration analysis; current account sustainability; Fourier techniques; Turkey; unit root analysis.
File-URL: http://www.inderscience.com/link.php?id=100671
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:3:p:219-236
Template-Type: ReDIF-Article 1.0
Author-Name: Yilmaz Bayar
Author-X-Name-First: Yilmaz
Author-X-Name-Last: Bayar
Author-Name: Metin Kilic
Author-X-Name-First: Metin
Author-X-Name-Last: Kilic
Title: Pension funds and stock market development: evidence from OECD countries
Abstract:
Pension funds have experienced considerable expansions in the value of their asset holdings after the gradual global transition from single tier pension system to multi-tiered pension systems, due to public pensions becoming financially unsustainable. Increases in the value of the pension funds' financial asset holdings have enhanced their efficiency in capital markets. This paper investigates the effect of pension funds as an institutional investor on stock market development in 18 OECD member states for the period of 2001-2015 with panel data analysis. The findings suggest that pension funds affected stock market development positively in the long run.
Journal: Int. J. of Sustainable Economy
Pages: 273-285
Issue: 3
Volume: 11
Year: 2019
Keywords: pension funds; stock markets; sustainability; panel data analysis.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:3:p:273-285
Template-Type: ReDIF-Article 1.0
Author-Name: Sa-ad Iddrisu
Author-X-Name-First: Sa-ad
Author-X-Name-Last: Iddrisu
Title: Natural capital and economic growth: a panel study approach
Abstract:
This paper employs panel data study of 63 developing countries to examine the relationship between natural capital and economic growth. Natural capital per capita and GDP per worker are used as proxies for natural capital and economic growth, respectively. Using three regression models, the results suggest there is a statistically significant positive relationship between natural capital and economic growth, and a long-run relationship (co-integration) between the variables. Therefore, treating natural capital as a substitute rather than as a complement in the production process undermines the important role natural capital plays for economic growth and development. Hence, national level governments should pay important attention to their natural capital.
Journal: Int. J. of Sustainable Economy
Pages: 258-272
Issue: 3
Volume: 11
Year: 2019
Keywords: developing countries; economic growth; gross domestic product; GDP; natural capital; sustainability.
File-URL: http://www.inderscience.com/link.php?id=100675
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:3:p:258-272
Template-Type: ReDIF-Article 1.0
Author-Name: Sushil Kumar Rai
Author-X-Name-First: Sushil Kumar
Author-X-Name-Last: Rai
Author-Name: Abhay Mohan Bembey
Author-X-Name-First: Abhay Mohan
Author-X-Name-Last: Bembey
Author-Name: Devshree Sarfare
Author-X-Name-First: Devshree
Author-X-Name-Last: Sarfare
Title: Empirical verification of causality between CO2 emissions, energy consumption, foreign direct investment, gross domestic product, and openness of the economy: evidence from India
Abstract:
The present paper addresses the issue of causal relationships between CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions, energy consumption (EC), foreign direct investment (FDI), gross domestic product (GDP), and openness of the economy in India by employing time-series data for 37 years from 1978 to 2014. The result indicates the existence of the long-run relationship between the considered variables. Further, a strong joint unidirectional causality is running from energy consumption, foreign direct investment, gross domestic product, and openness of the economy to CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions. The finding supports the thesis of the causal cyclical relationship between the above-mentioned variables; therefore, the policy of efficient energy use along with the adaptation of new technology in production activity will address the issue of reduction in CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions without compromising the objectives of high growth rate through foreign direct investment and openness of the economy.
Journal: Int. J. of Sustainable Economy
Pages: 237-257
Issue: 3
Volume: 11
Year: 2019
Keywords: causality; CO2 emissions; energy consumption; foreign direct investment; FDI; gross domestic product; GDP; openness of the economy; cointegration; vector error correction model; VECM; sustainability.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:3:p:237-257
Template-Type: ReDIF-Article 1.0
Author-Name: Milenko Fadic
Author-X-Name-First: Milenko
Author-X-Name-Last: Fadic
Title: The effects of temporary income shocks on household expenditure: the case of Ecuador
Abstract:
I study how household expenditures on non-durable consumption and human capital change in response to a positive and temporary income shock. I examine a sample of single-income earning Ecuadorian households where the income earner participated in a procurement process that uses a random lottery to select winning bidders for public tenders. I use a unique dataset that combines the results from the lottery with confidential tax-level data. I find that income shocks cause households to increase spending in education and health by 8% and in food and clothing by 11% during the year of the shock. I also find that households that received shocks of higher magnitudes smooth their expenditures over time. In addition to providing a measure of the propensity to consume for households in Ecuador, this study contributes to the literature by focusing on an unexpected, positive and temporary income shock. Additionally, this study estimates the joint effects on non-durable consumption and human capital, areas which have traditionally been studied separately.
Journal: Int. J. of Sustainable Economy
Pages: 286-302
Issue: 3
Volume: 11
Year: 2019
Keywords: human capital; income shocks; non-durable consumption.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:3:p:286-302
Template-Type: ReDIF-Article 1.0
Author-Name: James Temitope Dada
Author-X-Name-First: James Temitope
Author-X-Name-Last: Dada
Author-Name: Ezekiel Olamide Abanikanda
Author-X-Name-First: Ezekiel Olamide
Author-X-Name-Last: Abanikanda
Title: How important is oil revenue in Nigerian growth process? Evidence from a threshold regression
Abstract:
This study examines the effect of oil revenue on Nigerian growth process by focusing on threshold level of oil revenue from 1980-2017. Growth rate of oil revenue and gross domestic product are used as proxy for oil revenue and economic growth index respectively. Data are sourced from Central Bank of Nigeria statistical bulletin and World Development Indicators, 2017 edition. Threshold regression is used as the estimation technique. The threshold level of oil revenue in Nigeria that sustain economic growth is 6.17%. Below the threshold level, oil revenue has positive and significant effect on economic growth. While in the second regime (above the threshold level), oil revenue has negative and significant effect on economic growth in Nigeria which affirms the resource curse hypothesis in Nigeria. The study concludes that proceeds from oil revenue should be effectively utilised and institutions should be strengthened.
Journal: Int. J. of Sustainable Economy
Pages: 364-377
Issue: 4
Volume: 11
Year: 2019
Keywords: oil revenue; economic growth; threshold regression; sustainability.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:4:p:364-377
Template-Type: ReDIF-Article 1.0
Author-Name: Sara Casagrande
Author-X-Name-First: Sara
Author-X-Name-Last: Casagrande
Title: The Schumpeterian inner vibratory system
Abstract:
One surprising aspect of the recent economic crisis was the inability of economists to predict it. This failure was caused by several reasons: a short-term economic thinking, the belief that economic dynamics is a constantly growing path disturbed by erratic shocks, and the lack of a social and evolutionary perspective. We start from the thought of Schumpeter and we aim to deepen his unfinished but very fascinating project: the creation of an economic model that is capable of explaining the endogenous and cyclical nature of growth. Schumpeter called this model the <i>inner vibratory system</i>, suggesting that economic dynamics are determined by a biological mechanism that is subject to nonlinearity but which is able to generate an ordered evolution. In this paper we will analyse the main features of a possible inner vibratory system and we will examine its role in the development of models that are able to explain economic crises and embody the concept of long-term sustainable growth.
Journal: Int. J. of Sustainable Economy
Pages: 303-323
Issue: 4
Volume: 11
Year: 2019
Keywords: Schumpeter; business cycles; nonlinearity; self-organisation theory; complexity; dissipative systems; cyclical growth; innovations; inventions; capitalism; environmental sustainability.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:4:p:303-323
Template-Type: ReDIF-Article 1.0
Author-Name: Agnieszka Karman
Author-X-Name-First: Agnieszka
Author-X-Name-Last: Karman
Title: The role of human resource flexibility and agility in achieving sustainable competitiveness
Abstract:
The most dominant features of modern human resource management systems are flexibility and agility. They may refer to the flexibility of procedures, practices, competences, and agility of human resources. The purpose of the paper is to present the relations between the flexibility and agility of human resources and achieving sustainable competitiveness. Drawing upon previous works, we develop a conceptual model which links the constructs together. The conducted research is of theoretical and empirical nature. The method of case study was used. It is hypothesised that the three dimensions of HR flexibility (employee skills flexibility, employee behaviour flexibility and HR practice flexibility) and HR agility affect competitiveness by increasing the flexibility, creativity of human resources, improving quality performance and the impact upon the quality of life of employees and social relations. In particular, the agility and flexibility of human resources contribute to the growth of adaptability and strategic orientation, which directly affects organisations' competitiveness. The research results will improve the understanding of the impact of flexibility and agility related to the HRM system on the implementation of the concept of sustainable development in the organisation.
Journal: Int. J. of Sustainable Economy
Pages: 324-346
Issue: 4
Volume: 11
Year: 2019
Keywords: sustainable development; organisation; competitiveness; human resource.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:4:p:324-346
Template-Type: ReDIF-Article 1.0
Author-Name: Cheng Jin
Author-X-Name-First: Cheng
Author-X-Name-Last: Jin
Author-Name: Sunho Lee
Author-X-Name-First: Sunho
Author-X-Name-Last: Lee
Author-Name: Jinyoung Hwang
Author-X-Name-First: Jinyoung
Author-X-Name-Last: Hwang
Title: The impact of import and export on unemployment: a cross-national analysis
Abstract:
This paper uses 66 cross-country data covering the period from 2006 to 2016 to investigate the impact of import and export on the unemployment rate. Labour market friction and trade friction are controlled in the empirical models. In addition, we estimate six sub-samples, which are developing and developed countries, low industry ratio and high industry ratio countries, and low service ratio and high service ratio countries in addition to the whole sample to consider the levels of similar economic development and industrial structure. The estimation results suggest that import decreases the unemployment rate in sub-samples consisting of developing countries, high industry ratio countries, and low service ratio countries. On the contrary, export has positive and significant impacts on the unemployment rate in sub-samples consisting of developed countries, low industry ratio countries, and high service ratio countries. Therefore, this study suggests that the impacts of import and export on unemployment depend on the economic development and industrial structure of each country.
Journal: Int. J. of Sustainable Economy
Pages: 347-363
Issue: 4
Volume: 11
Year: 2019
Keywords: import; export; unemployment; skill mismatch; SMM; sample selection.
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:4:p:347-363
Template-Type: ReDIF-Article 1.0
Author-Name: Nicholas M. Odhiambo
Author-X-Name-First: Nicholas M.
Author-X-Name-Last: Odhiambo
Author-Name: Sheilla Nyasha
Author-X-Name-First: Sheilla
Author-X-Name-Last: Nyasha
Title: Does bank-based financial development spur economic growth? Empirical evidence from the Democratic Republic of Congo
Abstract:
In this study, we examined the dynamic causality between financial development and economic growth in the Democratic Republic of the Congo (DRC), using time-series data from 1965 to 2015. Unlike some previous studies, the current study used three proxies to examine this linkage. In addition, the study used savings and inflation as intermittent variables, thereby creating a multivariate Granger-causality model, and limiting the omission-of-variable bias. Using the ARDL bounds testing approach, the study found that there is a short-run causal relationship between financial development and economic growth in the DRC, but the direction of causality is dependent on the proxy used to measure the level of financial development. The study recommends that policy efforts in the DRC should be directed at developing both the financial and the real sectors in the short run as both sectors have been found to be mutually beneficial to each other, in this study.
Journal: Int. J. of Sustainable Economy
Pages: 378-393
Issue: 4
Volume: 11
Year: 2019
Keywords: financial development; economic growth; granger-causality test; Democratic Republic of Congo; DRC.
File-URL: http://www.inderscience.com/link.php?id=103493
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Handle: RePEc:ids:ijsuse:v:11:y:2019:i:4:p:378-393