NRB Economic Review最新文献

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Improving Macroeconomic Management: Experiences and Lessons 改善宏观经济管理:经验与教训
NRB Economic Review Pub Date : 2023-07-24 DOI: 10.3126/nrber.v16i1.54740
Tula Raj Basyal
{"title":"Improving Macroeconomic Management: Experiences and Lessons","authors":"Tula Raj Basyal","doi":"10.3126/nrber.v16i1.54740","DOIUrl":"https://doi.org/10.3126/nrber.v16i1.54740","url":null,"abstract":"The relationship between growth and macroeconomic stability is a wellestablished phenomenon. Long-term growth requires a higher level of investment and a stable economic environment contributes in promoting saving and investment. Good macroeconomic policies help attract foreign saving. Sound fiscal and monetary policies create a conducive climate for private investment and economic growth. So, the policymakers need to redress the problems of domestic and external financial imbalances by designing and implementing an appropriate mix of policies for achieving higher growth, lower price uncertainty, reduced external imbalances, and other macroeconomic vulnerabilities. So, the important issues facing the policymakers are designing sound exchange rate arrangement, making current account sustainable, and promoting financial and macroeconomic stability. In order to promote sound macroeconomic environment for attaining sustained economic growth, there is a need to pursue more flexible exchange rate regime and make progress toward adopting inflation targeting in addition to improving the financial sector soundness, strength and stability.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127994928","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}
引用次数: 0
Remittance and its Effect on Poverty and Inequality: A Case of Nepal 汇款及其对贫困和不平等的影响:以尼泊尔为例
NRB Economic Review Pub Date : 2022-11-28 DOI: 10.3126/nrber.v34i2.49430
Nimesh Salike, Jingyi Wang, P. Regis
{"title":"Remittance and its Effect on Poverty and Inequality: A Case of Nepal","authors":"Nimesh Salike, Jingyi Wang, P. Regis","doi":"10.3126/nrber.v34i2.49430","DOIUrl":"https://doi.org/10.3126/nrber.v34i2.49430","url":null,"abstract":"This paper examines the impact of remittance on poverty and income inequality in the context of Nepal using cross-sectional national survey- Nepal Living Standard Survey, third edition (NLSS3) of 2010-11. We employ a Heckman two-step estimation model with instrumental variables and constructed counterfactual income to investigate the real impact of remittances. We find that remittance has helped in the reduction of poverty ratio by 5.3% but deepened the poverty gap by 7.37% and severity by 9.25%. In terms of inequality, remittance has helped to reduce inequality within the remittance receiving group, however, it also contributed to rising income inequality when compared to non- remittance receiving group.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132184301","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}
引用次数: 0
An Empirical Study on the Determinants of Government Revenue in Nepal 尼泊尔政府收入决定因素的实证研究
NRB Economic Review Pub Date : 2022-11-28 DOI: 10.3126/nrber.v34i2.49437
Yam Lal Bhoosal, Rohan Byanjankar
{"title":"An Empirical Study on the Determinants of Government Revenue in Nepal","authors":"Yam Lal Bhoosal, Rohan Byanjankar","doi":"10.3126/nrber.v34i2.49437","DOIUrl":"https://doi.org/10.3126/nrber.v34i2.49437","url":null,"abstract":"This paper aims to examine the determinants of government revenue in Nepal. The macroeconomic variables, namely, GDP per capita, imports, consumer price index, exchange rate, and foreign aid from 1975 to 2021 have been included to assess their effect on government revenue. We have performed descriptive and econometric analyses. Government revenue increased by about 15 percent on average from 1976 to 2021 and the revenue-to-GDP ratio stood at around 22 percent in 2021. The empirical results reveal that GDP per capita and imports are the major determinants of government revenue in the short run. Likewise, GDP per capita, imports, and exchange rate are the major determinants of government revenue in the long-run. The error correction term suggests that the short-run disequilibrium in the system takes about 3 years to converge to equilibrium.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130918843","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}
引用次数: 2
Corporate Pay-out Policy and Test of Life Cycle Theory; Evidence from Nepalese Commercial Banks 公司股利政策与生命周期理论检验来自尼泊尔商业银行的证据
NRB Economic Review Pub Date : 2022-11-28 DOI: 10.3126/nrber.v34i2.49439
Ajaya Dhungana, Tej Prasad Devkota
{"title":"Corporate Pay-out Policy and Test of Life Cycle Theory; Evidence from Nepalese Commercial Banks","authors":"Ajaya Dhungana, Tej Prasad Devkota","doi":"10.3126/nrber.v34i2.49439","DOIUrl":"https://doi.org/10.3126/nrber.v34i2.49439","url":null,"abstract":"Dividend policy of firm in theoretical finance is one of the most controversial issue, various theories of dividend policy try to explain the dividend behaviour of the firm. The dividend distributed by a firm to its shareholder is very different when it is viewed from the perspective of the company’s life cycle. If no regulation forces, then firms at initial stage have higher investment opportunities, so they retain all their earning and pay no dividend. The firms at maturity stage have less investment opportunities, slow pace of growth rate and lower cost of raising external capital, hence, mature firms retain less and pays higher dividend. Life cycle hypothesis suggests that firm increases their dividend with their maturity. This study investigates the dividend behaviour of Nepalese commercial banks, by using the ten years panel data for the period from 2010 to 2019. Using conventional proxies of life cycle, the result of the study consistently shows that Nepalese listed commercial bank follow dividend life cycle theory. The result also shows that larger firms pay higher dividend and dividend history has positive relation with next period dividend payment. The result is robust and such robustness check has been conducted by altering some of the proxies of the variables. The result of the study suggest that the regulators should not impose same dividend policy to the entire banking industry.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"9 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130148492","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}
引用次数: 0
The Frequency of Mobile Banking Use During COVID-19 COVID-19期间手机银行的使用频率
NRB Economic Review Pub Date : 2022-09-05 DOI: 10.3126/nrber.v34i1.47992
L. Pokhrel
{"title":"The Frequency of Mobile Banking Use During COVID-19","authors":"L. Pokhrel","doi":"10.3126/nrber.v34i1.47992","DOIUrl":"https://doi.org/10.3126/nrber.v34i1.47992","url":null,"abstract":"The purpose of this paper is to examine the frequency of mobile banking use during COVID-19. Data were collected from 226 respondents. Data have been analyzed by applying the two-stage structural modeling technique through Partial Least Squares-Structural Equation Modeling (PLS-SEM). This study has found a significant positive impact of attitude towards mobile banking, subjective norms, and perceived behavior control on behavior intention mobile banking adoption. However, the risk perception of COVID-19 has no effect on the intention of mobile banking adoption. Based on the findings of this research, some theoretical and practical implications have been provided.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129045228","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}
引用次数: 3
Remittances Economic Growth and Investment Nexus: Evidence From Nepal 汇款、经济增长和投资关系:来自尼泊尔的证据
NRB Economic Review Pub Date : 2022-09-05 DOI: 10.3126/nrber.v34i1.47991
Shashi Kant Chaudhary
{"title":"Remittances Economic Growth and Investment Nexus: Evidence From Nepal","authors":"Shashi Kant Chaudhary","doi":"10.3126/nrber.v34i1.47991","DOIUrl":"https://doi.org/10.3126/nrber.v34i1.47991","url":null,"abstract":"This paper assesses the contribution of remittances on GDP and private gross fixed capital formation of Nepal by employing the ARDL bound test approach. The model incorporates the level of financial development, and the institutional quality of Nepal as regressors in addition to the macroeconomic regressors recognised by the literature. Perron’s (1997) innovation outlier model of breakpoint unit root test has been used to confirm the suitability of the variables in the ARDL bounds test approach. The findings show a positive effect of remittances on GDP while a negative effect on private gross fixed capital formation. The paper concludes that remittances do not act as a source of capital flows in the context of Nepal, rather they behave as compensatory transfers to the recipient households. To align remittances in productive activities such as self-employment, financial investment, etc., a remittance-focused policy is advised to reach out the recipients and provide them rigorous advisory and training supports.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"130 44","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120820518","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}
引用次数: 1
Role of Remittances on Rural Poverty in Nepal-Evidence from Cross-Section Data 汇款对尼泊尔农村贫困的作用——来自横截面数据的证据
NRB Economic Review Pub Date : 2021-12-31 DOI: 10.3126/nrber.v33i1-2.47989
Rohan Byanjanakar, Mira Shakha
{"title":"Role of Remittances on Rural Poverty in Nepal-Evidence from Cross-Section Data","authors":"Rohan Byanjanakar, Mira Shakha","doi":"10.3126/nrber.v33i1-2.47989","DOIUrl":"https://doi.org/10.3126/nrber.v33i1-2.47989","url":null,"abstract":"This paper attempts to determine the impact of remittance on rural poverty in Nepal using the microdata set of household risk and vulnerability survey 2016 – 2018. The cross-sectional analysis has been carried out using a dataset of 2018 with 5,645 households across 50 districts of Nepal. The logit regression model has been used to determine the relationship between poverty and remittances. About 38 percent of rural households received remittances in 2018. About 65 percent of households headed by females received remittance compared to 30 percent of households headed by male counterparts. About 41 percent, 31 percent, and 32 percent of households living in the Hilly region, Terai, and Himalayan region respectively received remittance in 2018. About 1 in every 5 households in rural Nepal is poor. The probability of households falling into poverty reduces by 4.8 percent with a one percent rise in household assets. Remittance receiving households are 2.3 percent less likely to get caught in poverty as compared to remittance non-receiving households. The probability of households plunging into poverty decreases by about 1.1 percent with every 10 percent increase in remittance inflows to households.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127782701","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}
引用次数: 1
Bank Stability and Its Determinants in The Nepalese Banking Industry 尼泊尔银行业的银行稳定性及其决定因素
NRB Economic Review Pub Date : 2021-12-31 DOI: 10.3126/nrber.v33i1-2.47988
N. Singh
{"title":"Bank Stability and Its Determinants in The Nepalese Banking Industry","authors":"N. Singh","doi":"10.3126/nrber.v33i1-2.47988","DOIUrl":"https://doi.org/10.3126/nrber.v33i1-2.47988","url":null,"abstract":"This paper investigates bank stability and its bank-specific, industry-specific, macroeconomic and institutional determinants for the Nepalese banking industry. The study employs the system GMM to a panel of bank-level data covering the period from 2004-2018.  The results show that the stability of the Nepalese banking industry improved during the early years of the study period, i.e., 2004-2007; however, it exhibited a decaying trend for the rest of the study period. The analysis reveals that the major factors responsible for this deterioration are capital adequacy, asset quality, and earnings of the banks. Most of the dimensions have shown improvements during the initial years of the study period; however, this trend reversed post-2007.The study groups the banks into three categories: stable, moderately stable, and less stable banks as per their respective stability score. The estimation results indicate that a positive bank stability persistence exists in the Nepalese banking industry. Results suggest that credit growth has a negative impact on the stability of the banks. The results of the study support the concentration-stability hypothesis. Income diversification appears to have a positive impact on the stability of the banks. Findings disclose that inflation is playing a crucial role in impacting the stability of the banks. The study reveals that the GFC had no significant impact on the stability of the Nepalese banking industry.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127348769","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}
引用次数: 2
Role of Workers’ Remittances in Export Performance of Nepal: Gravity Modelling Approach 工人汇款在尼泊尔出口绩效中的作用:重力模型方法
NRB Economic Review Pub Date : 2021-12-31 DOI: 10.3126/nrber.v33i1-2.47987
R. Paudel, T. Bhusal
{"title":"Role of Workers’ Remittances in Export Performance of Nepal: Gravity Modelling Approach","authors":"R. Paudel, T. Bhusal","doi":"10.3126/nrber.v33i1-2.47987","DOIUrl":"https://doi.org/10.3126/nrber.v33i1-2.47987","url":null,"abstract":"Role of workers’ remittance seems to be an imperative part of Nepalese economy for about two decades. The remittances inflow has supported to maintain the foreign reserves at the national level and consumption in household level. This paper investigates the role of remittances in export performance of Nepal employing the gravity modelling approach using annual data for the period of 26 years, from year 1993 to 2018. First, we document the scenario of remittances and export nexus, then conduct an econometric estimation for the exports flows from Nepal to its trading partners. The major finding indicates that the remittances have a statistically significant negative impact on export performance, which is largely impacted by the size of the trading partner’s economy as indicated by the estimation’s results. The study suggests for an urgent attention from policy makers to make the remittance in favor of exports by developing the export strategies. In this regard, a special focus on exporting to the rich economies may be a good way to boost the export performance of Nepal.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131951055","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}
引用次数: 1
Determinants of Financial Performance of Nepalese Commercial Banks: Evidence from Panel Data Approach 尼泊尔商业银行财务绩效的决定因素:来自面板数据方法的证据
NRB Economic Review Pub Date : 2020-10-01 DOI: 10.3126/NRBER.V32I2.35300
P. M. Shrestha
{"title":"Determinants of Financial Performance of Nepalese Commercial Banks: Evidence from Panel Data Approach","authors":"P. M. Shrestha","doi":"10.3126/NRBER.V32I2.35300","DOIUrl":"https://doi.org/10.3126/NRBER.V32I2.35300","url":null,"abstract":"The impact of bank specific factors on the financial performance of Nepalese commercial banks is analyzed in this paper. The financial performance is measured by using return on assets (ROA). Similarly, managerial efficiency (ME), liquidity (LIQ), credit risk (CR), assets quality (AQ) and operational efficiency (OE) is used as proxy of bank specific factors. This study used panel data of 17 commercial banks for the period of 2010/11 to 2017/18. Breusch and Pagan Lagrangian multiplier test showed that Pooled Regression model is not appropriate and Hausman test concluded that Fixed Effect model is appropriate rather than Random Effect model. Using the Fixed Effect model; this study concludes that bank specific factors have significant impact on financial performance of Nepalese commercial banks. Finally, this study reveals that ME, AQ and OE have significant positive impact, and CR has negative impact on the financial performance of Nepalese commercial banks.  ","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"236 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133016396","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}
引用次数: 2
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