South Asian Journal of Macroeconomics and Public Finance最新文献_第7页

Trade Openness and Diversification of External Financial Flows for Development: An Empirical Analysis 贸易开放与促进发展的外部资金流动多元化:一个实证分析

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2020-04-01 DOI: 10.1177/2277978719898974

S. Gnangnon

{"title":"Trade Openness and Diversification of External Financial Flows for Development: An Empirical Analysis","authors":"S. Gnangnon","doi":"10.1177/2277978719898974","DOIUrl":"https://doi.org/10.1177/2277978719898974","url":null,"abstract":"The implementation of sustainable development goals (SDGs) adopted in 2015 by the international community in the Agenda 2030 requires a substantial mobilization of financial resources. In the meantime, Goal 17 of this Agenda recognizes trade as an important means of the implementation of the SDGs. The current article investigates empirically the impact of openness to international trade on the diversification of external financial flows for development, which could help developing countries achieve the SDGs by 2030. To that end, three major external flows for development have been considered: development aid inflows, migrants’ remittances inflows and foreign direct investment (FDI) inflows. The analysis relies on a panel data set comprising 116 countries, over the period 1970–2017. The empirical analysis relies primarily on the two-step system generalized method of moments (GMM) approach and shows that greater trade openness exerts a positive and significant impact on the diversification of external financial flows for development, in particular, in the least developed countries (LDCs). As a result, greater openness to international trade could be an important tool for external capital flows diversification in developing countries. JEL Classification: F13, F14, F21, F24, F35, O20","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"9 1","pages":"22 - 57"},"PeriodicalIF":0.9,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/2277978719898974","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43271969","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: 5

The Concurrent Effect of Financial Development and Trade Openness on Private Investment in India 金融发展和贸易开放对印度私人投资的同步影响

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2020-03-19 DOI: 10.1177/2277978720906049

M. Boachie, Martin Ruzima, M. Immurana

{"title":"The Concurrent Effect of Financial Development and Trade Openness on Private Investment in India","authors":"M. Boachie, Martin Ruzima, M. Immurana","doi":"10.1177/2277978720906049","DOIUrl":"https://doi.org/10.1177/2277978720906049","url":null,"abstract":"This article examines the role of financial development and trade openness in promoting private investment in India. We use data (1960– 2013) from the World Development Indicators database. After checking the time series properties of the data, we employ auto-regressive distributed lag (ARDL) estimation technique to investigate the impact of the concurrent existence of financial development and trade openness on private investment and whether the effect of financial development is dependent on the level of openness. The results show that, independently, financial development and trade openness have significant positive effects on India’s private sector investment, in both the long run and the short run. However, the effect of the interaction between financial development and trade openness on private investment is significantly negative, suggesting that the effect of financial development on private investment depends on the level of openness. Therefore, we conclude that care should be taken in the design of policies that allow for the coexistence of financial development and trade openness if India aims at promoting private sector capital formation for job creation. JEL Classification: E22, E44, F10, F60","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"9 1","pages":"190 - 220"},"PeriodicalIF":0.9,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/2277978720906049","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46415963","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: 7

The Impacts of Monetary and Fiscal Policies on Economic Growth in Malaysia, Singapore and Thailand 货币和财政政策对马来西亚、新加坡和泰国经济增长的影响

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2020-03-02 DOI: 10.1177/2277978720906066

Chai-Thing Tan, A. Mohamed, M. Habibullah, Lee Chin

引用次数: 17

Exploring Import-led Growth in India: Evidence from the Post-reform Period 探讨印度的进口导向型增长:来自改革后时期的证据

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2020-02-20 DOI: 10.1177/2277978720906068

Biswajit Maitra

{"title":"Exploring Import-led Growth in India: Evidence from the Post-reform Period","authors":"Biswajit Maitra","doi":"10.1177/2277978720906068","DOIUrl":"https://doi.org/10.1177/2277978720906068","url":null,"abstract":"While the export-led growth (ELG) hypothesis attracted much attention historically, the import-led growth (ILG) dimension received little attention despite important linkages. The present article studies whether the ELG, ILG, growth-led export (GLE) and growth-led import (GLI) propositions hold in India for the post-reform period. Accordingly, the short-run and the long-run impacts of exports, imports, exchange rate and trade openness on income are assessed. The analysis finds prominent evidence of ILG hypothesis, both in the short run and in the long run suggesting that import is a significant bearing of economic growth, while the ELG hypothesis holds only in the short run. Besides, the exchange rate and trade openness have negative impacts on income. The study also finds indications of significant, stable export- and import-demand functions, where income and trade openness have caused exports and imports to rise. As income causes a rise in both export and import, the GLE and GLI hypotheses are also testified. The exchange rate depreciation and lagged imports also cause the export to a raise. As trade particularly import is an essential factor in income growth, the country should encourage more outer-orientation of the economy. An import liberalization policy could be useful for economic growth. JEL Classification: F43, F13, F14, O24, C32","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"9 1","pages":"113 - 87"},"PeriodicalIF":0.9,"publicationDate":"2020-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/2277978720906068","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46474492","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: 10

How Informal Sector Affects the Formal Economy in Pakistan? A Lesson for Developing Countries 巴基斯坦非正规部门如何影响正规经济?给发展中国家的一个教训

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2020-01-30 DOI: 10.1177/2277978719898975

K. Mughal, F. Schneider

{"title":"How Informal Sector Affects the Formal Economy in Pakistan? A Lesson for Developing Countries","authors":"K. Mughal, F. Schneider","doi":"10.1177/2277978719898975","DOIUrl":"https://doi.org/10.1177/2277978719898975","url":null,"abstract":"We explore the interaction of the informal sector with the formal economy for a developing economy, that is, Pakistan. Estimation results are obtained via autoregressive distributed lag (ARDL) bounds testing approach, which show a significantly positive effect of the informal sector in the long run whereas a negative impact of informal sector is found in the short run. We also present dynamic simulations to show the effect/contribution in terms of revised GDP per capita if the informal sector is accounted for in official statistics. The novelty of results is the varying effects of the informal sector across two time horizons that can have serious policy implications for developing and transition economies with large informal sectors. Although, the findings of this article enrich our understanding on the behaviour of the informal sector, they further fuel the debate associated with eradication of the informal sector. Efforts to curb informal activities may burden the low-skilled workforce in this sector and increase corruption opportunities in bureaucracy in the absence of institutional reforms. On the contrary, it makes the formal sector policy design and implementation a challenging task. JEL Classification: E26, H26, K42, O17","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"9 1","pages":"21 - 7"},"PeriodicalIF":0.9,"publicationDate":"2020-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/2277978719898975","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46747071","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: 14

Counterfactual Inflation Targeting in Nepal 尼泊尔反事实的通货膨胀目标

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2019-10-09 DOI: 10.1177/2277978719861211

Tomoya Suzuki

引用次数: 0

Controlling Terrorism Through the Nudging of Social Interactions 通过社交互动控制恐怖主义

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2019-10-03 DOI: 10.1177/2277978719870885

S. Mitra

{"title":"Controlling Terrorism Through the Nudging of Social Interactions","authors":"S. Mitra","doi":"10.1177/2277978719870885","DOIUrl":"https://doi.org/10.1177/2277978719870885","url":null,"abstract":"The article explains how ‘nudge theory’ can be applied to alleviate the incidence of terrorism. Nudges, which bring about a change in the environment in which individual choice is exercised, do not just modify the behaviour of individuals in a society but thereby influence the social environment which impacts both the human brain and behaviour. Thus, a nudge when appropriately administered to a large number of individuals can potentially bring about social evolution. This article seeks to reap dividends from this analytical argument by setting up an axiomatic system which captures present-day individual and social behaviour and then elaborates on the resultant social dynamics, which lead to growth of terrorism inducing intercommunity hatred. As humans can evolve, any axioms about human and social behaviour are not timeless. The article therefore suggests nudges for utilizing the bidirectional causality between the human brain and social environment to render one or more axioms toothless and diminish the societal propensity for terrorism. The recommended nudges include those that promote formation of mixed neighbourhoods by discreetly inducing more frequent interactions of a positive nature between members of hitherto hostile socio-economic groups; cultural exchange on neutral ground; and corporate social responsibility fostering the wellbeing of poor communities. JEL Classification: B55, D74, D87","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"8 1","pages":"180 - 190"},"PeriodicalIF":0.9,"publicationDate":"2019-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/2277978719870885","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41386918","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 Macroeconomics of Demonetization: Theory and Some Conjectures 废止纸币的宏观经济学:理论和一些猜想

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2019-09-22 DOI: 10.1177/2277978719861212

Subhasankar Chattopadhyay

引用次数: 1

Book review: Saumen Chattopadhyay, Macroeconomic of the Black Economy 书评：Saumen Chattopadhyay，《黑色经济的宏观经济》

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2019-09-22 DOI: 10.1177/2277978719872338

F. Schneider

引用次数: 0

Inflation Dynamics and Monetary Policy in India: A New Keynesian Phillips Curve Perspective 印度通货膨胀动态与货币政策:新凯恩斯菲利普斯曲线视角

IF 0.9

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2019-08-28 DOI: 10.1177/2277978719861186

Bhavesh Salunkhe, Anuradha Patnaik

{"title":"Inflation Dynamics and Monetary Policy in India: A New Keynesian Phillips Curve Perspective","authors":"Bhavesh Salunkhe, Anuradha Patnaik","doi":"10.1177/2277978719861186","DOIUrl":"https://doi.org/10.1177/2277978719861186","url":null,"abstract":"The present study estimates various specifications of the New Keynesian Phillips Curve (NKPC) models for India over 1996Q2 to 2017Q2 using Consumer Price Index (CPI) and Wholesale Price Index (WPI) inflation, separately. The empirical results suggest that the data support all the specifications of the Phillips curve models based on both the CPI and WPI inflations. However, the backward looking and hybrid models provide robust results for both the inflation indices. While the forward-looking behaviour dominates the CPI inflation trajectory, the backward-looking behaviour greatly influences the trajectory of WPI inflation. Also, a small-to-moderate degree of persistence is evident in both the CPI and WPI inflation. The output gap, which mainly represents the demand side pressures, turns up the major force determining both the CPI and WPI inflations. Besides the output gap, real effective exchange rate (reer), international crude oil price inflation, global non-fuel commodity price inflation and rainfall have a modest impact on the CPI and WPI inflations. JEL Classification: E12, E52, C36, C14","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"8 1","pages":"144 - 179"},"PeriodicalIF":0.9,"publicationDate":"2019-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/2277978719861186","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41694565","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: 8