Research in World Economy最新文献

{"title":"Bank Profitability Determinants: Firm-Level Observations in the ASEAN-5 Markets","authors":"Nur Diyana Athirah Binti Adnan, W. Lau, S. Law","doi":"10.5430/rwe.v12n3p77","DOIUrl":"https://doi.org/10.5430/rwe.v12n3p77","url":null,"abstract":"This paper aims to investigate the bank-specific characteristics and macroeconomic factors affecting the profitability performance of the Southeast Asian banking sector. The sample markets cover the five original members of ASEAN, i.e. Indonesia, Malaysia, Philippines, Singapore, and Thailand, whereas the sample period encompasses the years between 2010 and 2017. While a healthy financial system is important for the economic sustainability and growth, there are still limited studies to understand how banks generally perform in this region. Our findings largely support the existing hypotheses about the importance of certain micro- and macro variables while contributing new empirical evidence to the current literature. The bank size, loan to assets, loan loss provision, non-interest incomes and expenses, and capital adequacy remain relevant in influencing bank profitability in the ASEAN-5 region. Macroeconomic variables of inflation, interest rate, market concentration and GDP per capita play considerable roles in profitability when they are assessed separately from the bank-specific factors. It is worth noting that the bank-level factors remain important and outplay the macroeconomic factors when they are considered at the same time. The result robustness is of a certain level of satisfaction because comparisons have been performed across individual countries and across different regression models of pooled ordinary least squares model, random effect model, and fixed effect model for all the tentative tests. Both the return on assets and return on equity are examined. Combining both micro- and macroeconomic variables in the regressions also indicates an overall improvement in the r-squared under the same models.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130468132","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":"Economic and Financial Consequences of Pandemics","authors":"Vahid Gholampour","doi":"10.5430/RWE.V12N3P1","DOIUrl":"https://doi.org/10.5430/RWE.V12N3P1","url":null,"abstract":"This paper studies the medium-term economic consequences of major pandemics since 1870. The paper compares the average path of economic and financial indicators after a pandemic with their long-term path. According to data, inflation is low over the decade that follows the end of a major pandemic. Investments drive the rebound in real GDP. Financial assets provide above-average real returns. Credit markets experience a boom while fiscal and monetary authorities cutback government expenditure and money supply after pandemics.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124111433","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":"Effects of Covid-19 Pandemic in Personal and Family Savings in Albania","authors":"Elona Fejzaj, I. Kapaj, A. Kapaj","doi":"10.5430/RWE.V12N3P32","DOIUrl":"https://doi.org/10.5430/RWE.V12N3P32","url":null,"abstract":"The coronavirus outbreak, Covid-19, began in December 31, 2019 in Wuhan, China and quite quickly was spread in 212 countries and territories around the world. In Albania the first cases of Covid-19 were confirmed in March 2020. Covid -19 pandemic emergency has transformed into a worldwide financial emergency, putting in danger the wellbeing, occupations and salaries of millions of individuals around the planet. Coronavirus devastatingly affects the monetary security and prosperity of families. Since March 2020, the world economy has shed more than 13.3 million positions – 55% of them lost by ladies – setting off broad joblessness and sharp decreases in family incomes. Albania has been hit by two crushing stuns with hardly a pause in between: The November 2019 earth quake and the Covid-19 pandemic in spring 2020 that has frozen huge pieces of the economy. These stuns rule ongoing financial turns of events and the close term viewpoint for the economy. The main objective of this study is to investigate the impact that Covid-19, has had in personal income and also in the way that Albanian react in this situation related to family savings. To fulfil this objective, primary data are collected for the Tirana commune and its surroundings. In order to administer a considerable amount of data, a number of 1500 randomly selected individuals have been directly interviewed. From the data analysis we have concluded that most of the independent factors that we have chosen are significant in the three models. Also from the survey we have seen that the majority of the have changed their way of thinking related to personal and family savings. And as the main reason form this, they have listed the pandemic situation.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132483567","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 Impact of Liquidity and Leverage on Profitability in Industrial Sector in Jordan","authors":"M. Saleh, Muneer Mohamad Falah Jaradat, Lu'ay Mohammad Wedyan, Haneen Mahmoud Ibrahim Saleh","doi":"10.5430/RWE.V12N1P394","DOIUrl":"https://doi.org/10.5430/RWE.V12N1P394","url":null,"abstract":"Financial leverage is linked to the funding structure in terms of the proportion of debt in the capital structure; the higher the financial leverage is, the more the company depends on debt in its financing structure. On the other hand, the lower the debt is, the more the company relies on equity funding. The company thus decides the optimal funding combination that minimizes the company's capital costs and maximizes shareholder returns. The aim of this analysis was to quantify the effect of the analysis on the profitability of the Jordanian industrial sector listed on the Amman Stock Exchange during the period (2008-2017) and on a sample of (54) industrial companies to assess the impact of leverage and liquidity. In order to evaluate the data obtained from the actual financial statements of the industrial companies listed on the Amman Stock Exchange, a descriptive and systematic methodology was used. As a result, the statistical conclusion showed that the effect of liquidity and leverage on profitability was a significant result.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129627205","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 Causality Relationships Between the Kingdom of Saudi Arabia’s (KSA) Military Expenditure and Economic Growth in the Period From 1987 to 2019","authors":"M. Sayed","doi":"10.5430/RWE.V12N2P289","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P289","url":null,"abstract":"This study aims to test the causality relationships between the Kingdom of Saudi Arabia’s (KSA) military expenditure and economic growth in KSA, by using time-series data in respect of the period from 1987 to 2019. This study applies the Granger causality approach and uses the ARDL bound test approach to test the long-term relationships between the variables. By applying the Granger causality approach, this study’s findings show that the rate of growth rate in KSA’s military expenditure does not result in a similar rate of growth in the country’s Gross Domestic Product (GDP). However, by applying the Granger causality approach, there is a bidirectional causality relationship between the KSA’s military expenditure and the fixed rate of the country’s capital growth.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"504 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115941348","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 Successes and Challenges of Kenya’s Mombasa-Nairobi Standard Gauge Railway Transport Operations: A Special Reference to the Users","authors":"N. Githaiga","doi":"10.5430/RWE.V12N2P258","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P258","url":null,"abstract":"This article examined the successes and challenges of Kenya’s standard gauge railway for users in transport operations. The constrained operations in Kenya’s existing colonial railway system have contributed to connectivity barriers and inefficiencies in the transport sector. Standard Gauge Railway’s construction aimed to address these gaps and facilitate cargo and passenger transport operations in Kenya and across borders. This study used a descriptive research design in the form of a survey and adopted a mixed research method of qualitative and quantitative data with primary data collected through questionnaires and interviews. The population of interest was the train users (passengers and cargo transporters). The findings suggested that the railway has generally enhanced transport operations for passengers and freight through reduced travelling time, improved transport safety and security, and improved mobility and accessibility. While the SGR has led to reduced travel costs for passengers, the cost of freight transport remains relatively high. The SGR has provided an alternative for freight and passenger transport, but there are challenges such as logistical and administrative challenges in cargo clearance, ticketing issues, and passengers' “First mile and Last mile” challenges. While the improvement of physical transport infrastructure and connectivity is significant, these challenges should be transformed into enablers to realize the railway’s full potential. This research, therefore, recommends for; effective transfer of the cargo clearance and forwarding paperwork from Mombasa to Nairobi; development of a transport link between the railway and the two major cities to solve the “first mile” and “last mile” transport challenges for passengers, and to audit the ticketing system to identify and sanction cartels involved in ticketing malpractices. The overall conclusion is that generally, the railway has added value in Kenya’s transport sector; passengers now have a cheaper, reliable and safer mode of transport while cargo is transported in a more reliable and safer way. The SGR is thus a transformative infrastructural project for Kenya; it symbolizes a country on a pressing need to transform herself into a middle-income economy supported by modern infrastructure.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124778857","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":"Impact of FDI and Electricity on the Economic Growth of Pakistan: A Long Run Cointegration and Causality Analysis","authors":"Umer Qazi, A. Alam, Shahab Ahmad, Rani Ambreen","doi":"10.5430/RWE.V12N2P273","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P273","url":null,"abstract":"Since the 1980s, analysts have been debating the effect of foreign direct investment (FDI) and electricity consumption (EC) on the economic growth (GDP) of developing countries. The purpose of the study is to estimate the long-run relationship between FDI, electricity consumption and GDP of Pakistan for the period of 1971 to 2017, using ARDL bounds testing, FMOLS and Canonicals cointegration regression. For causality analysis, the study uses a VECM approach for short-run causality directions and MWALD/Toda Yamamoto approach for the long-run causality directions. The cointegration results of all the approaches state that there exists a positive and significant long-run relationship between the concerned variables. The impact of electricity consumption on economic growth is very strong as compared to FDI. Moreover, in the short-run, there is a unidirectional causality running from FDI to GDP and GDP to EC. In the long-run causality, the study finds unidirectional causality for FDI and bidirectional causality for EC with GDP.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122157585","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 Behavior of Online Consumer Opinions Case Tunisian Communities","authors":"Chiraz Rouissi, Fatma Letaief","doi":"10.5430/RWE.V12N1P364","DOIUrl":"https://doi.org/10.5430/RWE.V12N1P364","url":null,"abstract":"Online consumer opinions are an essential source of information on goods and services, with the framework of a Research Online Purchase Offline behavior. However, in a virtual environment, there are two types of consumers: opinion leaders and \"lurkers\" who do not participate in virtual communities. This research presents the results of a qualitative study on the obstacles and motivations for the participation of \"lurkers\" in Social Media and especially case of Facebook groups. It shows that even though \"Lurkers\" consider virtual communities as a public space that can triturate their confidentiality, in some cases they can manifest themselves and give rise to new behavior, which is \"mobilizing behavior\". Background/Objectives: The main purpose of the research is to study and understand, through a preliminary qualitative study, the barriers, and motivations of passive users in a virtual community on Facebook. The theoretical scope of this research is based on a lack of theoretical work, addressing the barriers and motivations to convert a Lurker into an Opinion Leader (Vasic, N & al. 2019) in the context of Research Online Purchase Offline \"ROPO\" behavior. Methods/Statistical. Methodological tools of the research methods were qualitative, a survey based on an interview is conducted with a sample of the relevant population, namely, subsidiaries of Tunisian communities’ groups. Given the exploratory nature of this study, the choice of a qualitative analysis seems appropriate. The method of data collection through semi-structured interviews Findings: This study examined the literature on online behaviors and aimed to provide a comprehensive understanding of Lurkers' behavior context through a qualitative exploratory study. The qualitative study shows that the \"Lurkers\" brakes are mainly around the fact that they want to protect their private lives by leaving as little data as possible so as not to receive abusive requests for additions, they try to keep some perspective to avoid any kind of conflict with strangers when it comes to different opinions. Improvements: This study can provide input at the managerial level, especially for creators of virtual communities. In practice, brands develop virtual communities intending to improve the \"consumer-brand\" relationship as well as the relationship between consumers. The obstacles for Lurkers to participate can give brands a clear idea of the need to develop engagement platforms. More specifically, the brand must give more opportunities to the lurkers to give their opinions so that they can participate without fear.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127408176","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":"Fiscal and Monetary Policy for Decent Employment in Nigeria","authors":"P. Alege, Jolaade A. Ayobami, J. Ejemeyovwi","doi":"10.5430/RWE.V12N1P351","DOIUrl":"https://doi.org/10.5430/RWE.V12N1P351","url":null,"abstract":"The level of unemployment in Nigeria has risen persistently, increasing the risk of the non-achievement of the SDG goal 8 – decent work and economic growth. Economists have documented that monetary and fiscal policies are effective tools for influencing economic variables such as the unemployment rate. In this study, we attempt to investigate and compare how these tools affect unemployment level in Nigeria. This study comes at an important time in Nigeria when the economy just exited a recession and is still experiencing low production and rising unemployment. This study investigates the nexus between macroeconomic policies and unemployment using the Autoregressive Distributed Lag (ARDL) estimation technique. The study finds that government capital expenditure helps to reduce unemployment in the long run only. On the other hand, the currency in circulation and the real GDP help to reduce unemployment rate in both the short and the long run. The study recommends a policy mix, which proposes that government expenditure be judiciously employed, and simultaneously, the Central Bank of Nigeria (CBN) should regulate the supply of money into the economy to not trigger inflation and unemployment.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"170 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124061552","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":"Investigating Online Social Media Network Acceptance in the Tourism and Hospitality Industry in Oman","authors":"S. Al-Hajri, Abdelghani Echchabi, M. Omar, Abdullah Ayedh","doi":"10.5430/RWE.V12N2P218","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P218","url":null,"abstract":"In the emerging tourism and hospitality industries such as that of Oman, companies can market their services and products using the Social Media Networks (hereafter SMNs) and engage customers to identify their requirements online. Oman recognizes the benefits of SMNs in the tourism and hospitality industry and it has made major efforts to ensure the success of this newly introduced industry like its neighboring country the United Arab Emirates (hereafter UAE). Even though, the hospitality industry is vital to the economy of Oman, the Omani hospitality industry continues employing the conventional approach while conducting transactions. Understanding the influence of accepting such an innovation in the hospitality industry in Oman raises a fruitful research question to investigate. Therefore, it is this study’s objective to examine the influence of SMNs Acceptance in the tourism and hospitality industry in Oman. For the attainment of the study’s objective, the study uses a survey questionnaire to 200 respondents that have visited Oman recently, where 182 responses were properly filled and returned. The structural equation modeling (hereafter SEM) had been utilized to analyze the collected data. The results reveal that the respondents had high degree of satisfaction with their travel experience and they intended to continue using SMNs for tourism purposes. Nonetheless, it was found that the major factors influencing their decisions are: perceived usefulness, perceived ease of use, subjective norms and reliability.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133000076","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}