{"title":"The Relationship Between Education Outputs, Education Expenditure, and Economic Growth in Saudi Arabia","authors":"Benlaria Houcine, Messen Kerroumia, Emad Abdel Khalek Saber El-Tahan, Tarig Osman Abdallah Helal","doi":"10.5430/RWE.V12N2P320","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P320","url":null,"abstract":"The present study investigated the relationship between education outputs, Education expenditure, and economic growth in Saudi Arabia for the time period of 1986–2016. The results obtained after employing the Autoregressive Distributed Lag (ARDL) model revealed a long-term relationship between the studied variables, an inverse relationship between the number of graduates and growth in the long term, whereas a non-significant positive relationship appeared in the short -term. Findings indicate also that public spending in education has a positive and significant impact on economic growth in the long run. Furthermore, he observed that a 1% increase in public expenditure in education contributes 18% increase in GDP per capita in the long run. This is in line with economic theory and previous research showing that expenditure on education leads to a rise in GDP per capita and economic growth rates. The recommendations of this study are fundamental to the Kingdom of Saudi Arabia.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131112202","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":"Poverty of the Elderly in Korea","authors":"Se Won Kim, J. S. Mah","doi":"10.5430/RWE.V12N2P146","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P146","url":null,"abstract":"Korea’s elderly poverty rate remains very high. The fact that a society long governed by the Confucian idea of respect for the elderly has a high elderly poverty rate is ironic. This paper reveals the causes of the exceptionally high poverty rate of the elderly in Korea. Significant reductions in the birth rate and the rapid aging of the population have fueled reductions in private transfers from adult children to elderly parents. Efforts to strengthen the public transfer system have not kept pace with reductions in private transfers in relieving elderly poverty. Korea’s experience provides policy implications to developing countries.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"229 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123314175","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 Social Responsibility Disclosure and Cost of Equity of ASEAN-5 Public Companies","authors":"Randi Anto, Irene Rini Demi Pangestuti, Sugeng Wahyudi, Rezy Ayu Ramadhanti","doi":"10.5430/RWE.V12N2P334","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P334","url":null,"abstract":"This research aims to analyze the influence of corporate social responsibility (CSR) disclosure, leverage, and ownership structure – consisting of institutional ownership, managerial ownership and concentrated ownership – on cost of equity with book-to-market ratio and firm size as control variables. The population was non-financial public companies listed in ASEAN. There was a total of 76 companies obtained using a purposive sampling technique. The data was analyzed using the multiple regression technique. The results show that the data is normally distributed and has met the requirements for using the multiple linear regression models. The findings indicate that the CSR and leverage have a positive and significant influence on cost of equity. Similarly, the institutional ownership also has a positive and significant influence on cost of equity. However, the managerial ownership and concentrated ownership have a negative and significant influence on cost of equity. Meanwhile, the book-to-market ratio has a negative and significant influence on cost of equity. In contrast, the firm size has a positive and significant influence on cost of equity.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128282990","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":"Environmental Legitimacy Through Adopting Green Products and Its Effect on the Brand Equity: Moderating Role of Management Awareness","authors":"Prof. Tareq Nael Hashem","doi":"10.5430/RWE.V12N2P197","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P197","url":null,"abstract":"The current study sought to examine the influence of adopting green products as a form of environmental legitimacy on ''brand equit'y'' through the moderating role of management awareness. Quantitative method was adopted through utilizing a questionnaire which was distributed on (96) individuals within green brands producers in Jordan. Results of study indicated that all brand equity variables are influenced by adopting green products as a form of environmental legitimacy. Results also indicated that brand personality was the most influenced variable of all scoring an R value of (0.74) and explained 54.7% of total influence. Study recommended organizations to focus on adopting green products in order to enhance brand equity as an approach for developing and supporting sales, and encouraging customers of regular products to switch to green products. ","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127897828","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 Profit Tax on Employment in the Private Non-agricultural Sector in Albania","authors":"Shpresa Çela, Albana Gjoni","doi":"10.5430/RWE.V12N2P211","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P211","url":null,"abstract":"In this paper we will analyze the employment rate in Albania, how it has changed over the years starting after the 1990s. For research reasons we have detached to analyze the employment rate in the private non-agricultural sector. Based on an analysis made by the World Bank and many other official sources such as the Labor Force Survey, the International Labor Organization (ILO) and official data such as INSTAT, we have noticed that employment in the Albanian market has become a problematic issue over the years because the employment rate has decreased. What are the factors that affect the employment rate? Does the profit tax rate have an effect on employment or not? We used an econometric model, linear regression to see the interdependence between these two variables using official data from 1995-2018. We have studied this period of time until 2018 where the situation has been normal, not including the COVID 19 crisis, which is an unusual period that in our opinion should be treated separately.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124828957","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}
F. Olarewaju, Adeyemi A. Ogundipe, P. Adekola, N. Adeleye
{"title":"Human Capital and Manufacturing Output in Nigeria: A Micro-Data Survey","authors":"F. Olarewaju, Adeyemi A. Ogundipe, P. Adekola, N. Adeleye","doi":"10.5430/RWE.V12N2P132","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P132","url":null,"abstract":"In attempting to explain the rather inconsistent growth of manufacturing industries in Nigeria, this study seeks to investigate the effect of human capital on manufacturing output in the Nigerian industrial firms. The study adopts human capital theory as a basis for the theoretical framework. Micro-data from the World Bank Enterprise Survey (2014) is utilised to perform Spearman Correlation in investigating the specific effects of HC on manufacturing value-added for Nigerian industries. High-school education, formal training and research were found to have a weak positive but significant impact on levels of manufacturing output. Therefore, recommendations on improved human capital quality via public-private partnerships, fostering trainings, research activities and conducive business environment in terms of unbiased and efficient institutions for manufacturing sectors, among others were proffered.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115022637","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":"Do the Key Sectors Depend on Changing the Income Level of Countries?","authors":"Burcu Oralhan, E. Uluğ","doi":"10.5430/RWE.V12N2P37","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P37","url":null,"abstract":"This study aims to identify key sectors in countries showing any class change in level of income and to examine whether there is any relationship between sectors and income classes. Another aim of the study is to identify emerging and disappearing sectors in key sectors during periods when countries’ income levels change. In this context, four basic income classes published by the World Bank are examined for 43 countries but class change was identified only in 12 countries between 2000-2014. A statistical difference was determined between the sectors in the classes at Low and Low Middle levels and Upper Middle and High) classes. Among these countries discussed in the 15-year period with 56 sectors examined, some sectors showed feature of being common key sectors, some tendency to be a key sector in recent years and some sectors have lost their key feature before or after the direct income class changes.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115824289","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}
A. Asaleye, R. Maimako, H. Inegbedion, A. Lawal, C. Aremu
{"title":"Implications of Non –productive and Productive Government Expenditure on Output and Employment: Evidence From Nigeria","authors":"A. Asaleye, R. Maimako, H. Inegbedion, A. Lawal, C. Aremu","doi":"10.5430/RWE.V12N2P51","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P51","url":null,"abstract":"Nigerian government expenditure has been on an increasing trend over the years, and its contribution to sustainable economic development; promoting long-term output and employment has generated controversial issues in the literature. Against this background, this study analyses the impact of both productive and non-productive government expenditure on output and employment in Nigeria using the Vector Error Correction Model, The long-run equations for output and employment are established. The joint short and long-run causality was also investigated. The study shows a contrary result to theoretical predictions; Nigeria's long-run growth is not promoting by productive government expenditure. Furthermore, there is joint short and long-run causality between employment and government expenditure channels. Evidence from the output equation indicates no joint long and short-run causality. The implication of this result shows that government expenditure either productive or non-productive, has not improved the economy, although there is an increase in employment generation through the non-productive channel, which has not promoted broad-based growth. For the Nigerian government to improve the situation, the study recommends a critical assessment of public expenditure through the cost-benefit approach.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133511633","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":"Role of Revenue Mobilisation in the Growth and Development of Economy: A Case Analysis of Greece","authors":"Stavros Kalogiannidis","doi":"10.5430/RWE.V12N2P63","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P63","url":null,"abstract":"The mobilizing processes in terms of long-term impact on the economy of Greece and the euro zone. Thereafter, Troika was invented in order to facilitate Greece to overcome the historical crisis. Research aim: The research has its focus on bureaucratic obstacles as well as complicated policies of fiscal laws under European Governance and regulations. Revenue mobilization might have influenced the country from a huge amount of debts. Since, it has been proved to be productive and effective, as per policies formed from the transferable Troika’s policies. The contemporary crisis was handled with the resiliency of revenue mobilization along with digitization and innovations. The primary objective of the tax system is to raise the revenue that will aid in offering the nation with valuable services to the citizens, developing the nation, encouraging innovations and trade. Period: the period of imposing revenue mobilization in the growth and the development of the economy of Greece. Research method: After the whole research study the methodologies used is the secondary methods where no analysis or physical surveys are done. The primary methods are not used all the methods are based on the researches and the studies available. The effects that have been observed by the development functions and the statistics that is available after the influence of the growth after the revenue mobilization. Country: The country taken here is GREECE Research result: Revenue mobilization has been considered as an excellent choice for the development of the economy of a country. Taking help from the International Monetary Fund or the World Bank is considered as debt which has to be repaid, whereas revenue is collected from the country itself as taxation and tariffs. The revenue has helped the government to accumulate capital for various expenditures in the development of the nation such as building infrastructure and improving health facilities.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133518841","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}
M. Rusli, A. Suherman, Aryuni Yuliantiningsih, Wismaningsih Wismaningsih, N. Indriati
{"title":"The Straits of Malacca and Singapore: Maritime Conduits of Global Importance","authors":"M. Rusli, A. Suherman, Aryuni Yuliantiningsih, Wismaningsih Wismaningsih, N. Indriati","doi":"10.5430/RWE.V12N2P123","DOIUrl":"https://doi.org/10.5430/RWE.V12N2P123","url":null,"abstract":"The Straits of Malacca and Singapore are two of the world’s most crucial maritime highways. Srivijaya and the Malacca Sultanate were among the regional formidable political entities that were successful in exerting their power and influence over the Straits. The pre-eminence of the local kingdoms were overshadowed by the arrival of the European imperialists as early as the 16 th century, that changed the political dynamics in the region. The Straits of Malacca and Singapore remain important till today as it provides the shortest route linking petroleum producing-nations of West Asia and the oil consumers of East Asia. As such, the significance of the Straits of Malacca and Singapore global fulcrum of maritime trade is indisputable. Nevertheless, despite being the caretaker of these important Straits, Malaysia and Indonesia have a long way to go before they could be regarded as influential maritime States. This article concludes that both Malaysia and Indonesia should develop its oceans policy to go hand in hand with the global significance of the Straits of Malacca and Singapore. This has to be done in ensuring that both Malaysia and Indonesia could relive the glorious moments once enjoyed by both its predecessors – Srivijaya and Malacca.","PeriodicalId":264194,"journal":{"name":"Research in World Economy","volume":"151 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132053177","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}