{"title":"The Sino-African Cooperation: A Taiwanese Viewpoint","authors":"C. Lin, H. O. Faustino, Shih-Ju Chan","doi":"10.5296/RAE.V8I1.8400","DOIUrl":"https://doi.org/10.5296/RAE.V8I1.8400","url":null,"abstract":"The study is to examine the contemporary trends of the Taiwanese economic involvement in Africa and includes both Taiwanese and Chinese policy toward Africa. Emerging countries are standing side by side in so-called “South-South” cooperation, and are taking advantage of the decreasing image of Western nations following the economic crisis. We are challenging the biased opinion portrayed by the Western press, which is negative toward Asian involvement in African states, and that states the investors (China and Taiwan) are only gaining from their investments. The ambitions on the continent are far from innocent, and nations, such as China are looking to fulfill their demands for natural resources. We intend to emphasize on whether the Chinese presence in Africa is purely resource-based, or if this cooperation is bearing fruit in the future development of African states. The originality of this study lies in its focus on a triangular (China, Taiwan, and Africa) view point of economic interactions and implications because it includes Taiwanese economic involvement in African markets. We hope that these findings, based on sources other than controversial Western articles enable the reader to obtain a better understanding of the current situation, and form their own opinion.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124354741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Corporate Governance, Intellectual Capital and Firm Performance","authors":"Abdul Basyith","doi":"10.5296/RAE.V8I1.8675","DOIUrl":"https://doi.org/10.5296/RAE.V8I1.8675","url":null,"abstract":"This paper investigates the impact of corporate governance and intellectual capital on firm performance in Indonesian-listed firms. Using a balanced-panel of 120 Indonesian-listed firms, this study employs a balanced panel method, using non linier IV 2SLS and non linier IV-GMM. All variables, apart from commissioners, directors, education and capital employed efficiency exhibit a non significant impact on Tobins’Q, while all variables are statistically non significant for ROA. The findings are less conclusive than that of previous studies in developed countries. This study provides recent evidence for the corporate governance and intellectual capital in affecting firm peformance of listed-firms in Indonesian Stock Exchange. Though most listed-firms in Indonesia is owned by group or family, the appointment should be strictly complied to the regulations set, as current evidence indicates that independent commissioners and directors have no impact on firm performance, hence an awareness of good corporate governance conduct should be massively disseminated.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131006301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Political Aspect of the Saving – Investment Gap in Croatia","authors":"Damir Piplica","doi":"10.5296/RAE.V7I4.8420","DOIUrl":"https://doi.org/10.5296/RAE.V7I4.8420","url":null,"abstract":"All the Governments of Croatia should acknowledge the importance of the economic policy that will encourage higher saving rates thus enabling correlation with the investment rate with the scope of reaching important macroeconomic goals, such as the GDP and employment rates increase, etc., without in any way endangering the macroeconomic stability of the national economy. Regardless of the great impact savings had on the investments, the implementation of the economic or investment policy on behalf of the Right-wing Government of Croatia had a great impact in creating the discrepancy in the saving-investment ratio, than it was the case with the Left-wing Government of Croatia. If the Right–wing Government of Croatia starts implementing the economic policy with the sole scope of reaching higher saving rates than the former ones, complying with their ideology, and focusing less on how to opportunistically reach middle voters, they will influence effectively the saving and investment correlation, thus lessening the saving-investment gap and reaching the macroeconomic stability. However, if the Right-wing Government opportunistically turn to the “middle voters” instead of following their ideology`s programme, this could lead to the decrease in efficiency of some economic policy measures with the goal of reaching a certain saving-investment correlation. On the other hand, with the growth in saving rates, Left-wing Government of Croatia can influence effectively its correlation with the investment rates, but still in a lesser proportion compared to the Right–wing Government of Croatia. With the Left–wing Government of Croatia opportunistically orienting on the “middle voters” that would facilitate their position in achieving the macroeconomic stability and thus enforcing their influence on the saving-investment correlation, as would not be the case if only complying with their left oriented party`s programme.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126365870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Danjuma Maijama’a, Shamzaeffa Samsudin, Shazida jan Mohd Khan
{"title":"HIV/AIDS and Economic Growth: Empirical Evidence from Sub-Saharan Africa","authors":"Danjuma Maijama’a, Shamzaeffa Samsudin, Shazida jan Mohd Khan","doi":"10.5296/RAE.V7I4.8426","DOIUrl":"https://doi.org/10.5296/RAE.V7I4.8426","url":null,"abstract":"This study investigates the effects of the HIV and AIDS epidemic on economic growth in 42 sub-Saharan African countries using data spanning from 1990-2013. Unlike previous studies, we use a longer data horizon and take the time lag effect of the epidemic’s incubation period that is, after it might have developed to AIDS into consideration in our estimations. We estimated an empirical growth equation within an augmented Solow model and applied the dynamic system GMM estimator. The results suggest that current HIV prevalence rate – associated with rising morbidity, has a negative effect on GDP per capita growth, conversely AIDS – associated with higher mortality in addition to morbidity, increases per capita GDP growth.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133691486","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Analysis of External Debt Sustainability by Periodic Unit Root Test with Structural Break: The Case of Turkey","authors":"Ozlem Goktas, A. Hepsağ","doi":"10.5296/RAE.V7I4.8123","DOIUrl":"https://doi.org/10.5296/RAE.V7I4.8123","url":null,"abstract":"The aim of this study is to investigate external debt sustainability using the periodic unit root rest with structural break which is introduced by Boswijk and Franses (1995) and then developed by Evans (2006). In order to test the hypothesis, we use quarterly Turkish data measuring the ratio of external debt stock to GDP that covers the period from the first quarter of 1990 to the third quarter of 2012. The empirical results support that the ratio of external debt stock to GDP has the periodic behavior under structural change and follows a nonstationary periodic process with structural break. According to the empirical findings, it is argued that the external debt is unsustainable in Turkey.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133892681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Labour Market Returns and Wage Inequality: New Evidence for Europe","authors":"T. Sequeira, Marcelo Santos","doi":"10.5296/RAE.V7I3.8020","DOIUrl":"https://doi.org/10.5296/RAE.V7I3.8020","url":null,"abstract":"We study the relationship between returns to education and the wage distribution in Europe and we find evidence for a new fact: A hump-shaped relationship between returns and the wage distribution. This hump-shaped relationship between returns to education and the wage distribution means that investments on education contributes to increase inequality between the lower bound of the wage distribution and the median (roughly) but for the richer part of the wage distribution, education tends to decrease wage inequality. There is also evidence of a non-monotonous relationship between returns to tenure and gender, on one side, and the wage distribution, on the other side.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115266071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does the Perception of Organizational Cronyism Leads to Career Satisfaction or Frustration with Work? The Mitigating Role of Organizational Commitment","authors":"A. Turan","doi":"10.5296/RAE.V7I3.8164","DOIUrl":"https://doi.org/10.5296/RAE.V7I3.8164","url":null,"abstract":"The concept of organizational cronyism has been investigated to explain different concepts in the literature. In this study, we aim at researching the influence of organizational cronyism on organizational commitment of individuals and explain how the influence differentiates their career satisfaction or frustration with work perception of individuals. Therefore, we focused on government officials working in a public institution and examine their perception of cronyism in the organization. Having gathered the data from 193 government officials, confirmatory as well as explanatory factor analyses initially was initially conducted on the scales of organizational cronyism, organizational commitment, career satisfaction and frustration with work. After controlling the validity and reliability of the scales, measurement model and structural model testing were carried out. Results indicated that organizational commitment partially mediated the relationship between organizational cronyism and career satisfaction. In addition, organizational commitment partially mediated the relationship between organizational cronyism and frustration with work.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133033785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Evidence on the Wage Returns of Advanced Vocational Training and University Education in Spain","authors":"Maite Blázquez, Ainhoa Herrarte, Raquel Llorente-Heras","doi":"10.5296/RAE.V7I3.7904","DOIUrl":"https://doi.org/10.5296/RAE.V7I3.7904","url":null,"abstract":"This paper analyses the evolution of the wage return to tertiary education in Spain, distinguishing between advanced vocational training and university education. Using microdata from the Spanish Structure of Earnings Survey, the study estimates wage equations which, in addition to considering the human capital and the personal and employment characteristics of individuals as causal factors, includes a measure of the excess labour supply of university graduates by region. The results show that the wage differential of the graduate population fell, in general, in the period 1995-2006, and that a relatively high supply of graduates in the regional labour market negatively affects wages in such regions, and that these effects increase over time.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"123 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124187823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exchange Rate and Demand for Money in Nigeria","authors":"B. C. Ogbonna","doi":"10.5296/RAE.V7I2.7916","DOIUrl":"https://doi.org/10.5296/RAE.V7I2.7916","url":null,"abstract":"This study is designed to examine empirically the impact of exchange rate on the stability of demand for money in Nigeria where official and black market exchange rates operate side by side due to exchange controls. Variants of money demand model are estimated using monthly data for the period of 2005-2013. Cointegration and system equation techniques combined with CUSUM and CUSUMSQ tests are employed in the data analysis. Results indicate that in all the variants of the money demand model, coefficients of exchange rates variable (official or black market exchange rates) manifest significant t statistics, meaning that the null hypothesis of restricting the coefficients of exchange rates in money demand model in Nigeria is rejected for each variant. This suggests that coefficient of exchange rates variable (OMEXR or BMEXR) belongs to the cointegrating space in all the instances. Judging from the freakiness of the coefficients of the variants of the money demand function and the results of the tests for stability of the models combined, the most appropriate demand for money function for Nigeria appear to be the one that includes M1, the interest rate, inflation rate, and official exchange rate. This implies that in Nigeria, a greater percentage of the foreign exchange demand may be public sector driven and substantial percentage of the private sector foreign exchange needs is sourced from the official exchange rate market due to the substantial disparity between the two rates. This may mean consumers’ easy access to official exchange rate and transparency in the operation of official exchange rate market in Nigeria.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"198 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121615960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Empirical Evidence on Korea¡¯s Import Demand Behavior Revisited","authors":"Jungho Baek","doi":"10.5296/RAE.V7I2.7056","DOIUrl":"https://doi.org/10.5296/RAE.V7I2.7056","url":null,"abstract":"This paper attempts to re-examine Koreai¯s import demand behavior with an enhanced econometric technique and an up-to-date dataset. To achieve the goal, an autogressive distributed lag (ARDL) approach is adopted. Our results show the existence of the long-run relationship between Koreai¯s imports and its major determinants such as income and price. It is also found that income plays an important role in influencing Koreai¯s imports in both the short- and long-run. On the other hand, price is found to have a significant impact on Koreai¯s imports only in the short-run.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121755808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}