Economic Journal of Emerging Markets最新文献_第3页

Competition and banks' financial performance in dual banking: Evidence from efficiency-adjusted market power 双轨制银行竞争与银行财务绩效:来自效率调整市场力量的证据

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-31 DOI: 10.20885/ejem.vol14.iss2.art8

M. A. Khattak, Mohsin Ali, Noureen A. Khan

{"title":"Competition and banks' financial performance in dual banking: Evidence from efficiency-adjusted market power","authors":"M. A. Khattak, Mohsin Ali, Noureen A. Khan","doi":"10.20885/ejem.vol14.iss2.art8","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss2.art8","url":null,"abstract":"Purpose ― This paper examines banking competition's effect on Malaysia's financial performance from 2008–2020. This study investigates the relationship between banks' market competition and financial performance by examining banks' profits and risks. Further, this current study examines whether the association differs for Islamic banks.\u0000Methods ― The research studies Malaysia as a sample country and employs a data span from 2008-2020. In order to address omitted variable bias, simultaneity and endogeneity are avoided using a two-step GMM model.\u0000Findings ― Our results recommend that more competition inspires the banking sector to invest in risky ventures to offset the losses in revenues. Moreover, banking today is still based on basic banking operations like granting loans (or financing in Islamic banks), collecting deposits, and managing payment systems.\u0000Implication ― Since our findings show a negative effect of competition on the bank's financial performance, we suggest that competition lowers banks' profits and results in greater risk. It is suggested that regulators and policymakers develop the financial infrastructure in terms of controlled competition in banking and encourage banks to diversify their operations efficiently. We find no significant difference in the association between conventional and Islamic banking.\u0000Originality ― This research is the first to examine the effect of bank competition on the financial performance of a developed dual banking system using the efficiency-adjusted Lerner index.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79647980","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

Foreign direct investment and economic complexity in emerging economies 新兴经济体的外国直接投资与经济复杂性

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-31 DOI: 10.20885/ejem.vol14.iss2.art9

T. Osinubi, F. Ajide

{"title":"Foreign direct investment and economic complexity in emerging economies","authors":"T. Osinubi, F. Ajide","doi":"10.20885/ejem.vol14.iss2.art9","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss2.art9","url":null,"abstract":"Purpose ― In this study, we investigate the impact of foreign direct investment (FDI) on economic complexity in MINT and BRICS countries.\u0000Methodology ― Data on economic complexity from MIT’s Observatory of Economic Complexity and data on FDI and other determinants of economic complexity are sourced from World Development indicators which spanned between 1991 and 2020. The countries are divided into three categories: All countries pooled together, MINT and BRICS countries. We employ panel co-integrating regression.\u0000Findings ― Findings based on panel co-integration regression show that foreign direct investment positively impacts economic complexity in all the countries and MINT countries, while its impact is negative in BRICS countries.\u0000Originality ― This study adds value to the literature by scrutinizing the nexus between FDI and economic complexity in the context of emerging economies and employs the panel co-integration technique for robust analysis. The study's findings shed light on the need for governments in developing countries to implement appropriate policies encouraging FDI inflows into their respective countries. Contributing to the host country's economic complexity, FDI inflows should be focused on highly technical investment and, most importantly, should be selective to enhance the development of priority sectors. An investment promotion policy may be required to encourage foreign investment in the host country.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89128763","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

Stock and exchange rate movements in the MENA countries: A Markov Switching –VAR Model 中东和北非国家的股票和汇率变动:一个马尔可夫转换-VAR模型

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-27 DOI: 10.20885/ejem.vol14.iss2.art6

Marwa Trabelsi, Slah Bahloul

引用次数: 0

Unemployment, total factor productivity, budget deficit, and wage share in South Africa 南非的失业率、全要素生产率、预算赤字和工资份额

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-05 DOI: 10.20885/ejem.vol14.iss2.art4

J. Marire

{"title":"Unemployment, total factor productivity, budget deficit, and wage share in South Africa","authors":"J. Marire","doi":"10.20885/ejem.vol14.iss2.art4","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss2.art4","url":null,"abstract":"Purpose ― The paper investigated the effect of the interaction of fiscal deficits and total factor productivity (TFP) and fiscal deficits and the wage share on unemployment.\u0000Methods ― The paper applied an autoregressive distributed lag model to South African annual data from 1991-2019.\u0000Findings ― First, increases in fiscal deficits increase unemployment at all levels of TFP and wage share. Second, increases in TFP increase unemployment at different levels of fiscal deficit, but after the global economic recession, the rate of increase in unemployment declined significantly. This means that the interaction of rising TFP and fiscal deficits in South Africa, where the growth regime is profit-led and technology-driven, always results in increasing unemployment. Third, as the wage share increases, unemployment increases, at all levels of fiscal deficits, suggesting that a wage-led growth regime is no panacea to unemployment either.\u0000Implications ― The findings imply that expansionary fiscal policy does not necessarily create an economy that works for all unless active labour market institutions are set up. The findings challenge the notion that the solution to unemployment in South Africa is wage flexibility. Neither do the findings support the idea that following a profit-led growth path is a solution. A balanced mix of the two growth regimes would work.\u0000Originality ― Studies have considered the productivity-enhancing effects of structural fiscal policy, but they have not considered the possible effects of interactions between productivity, fiscal policy and wage shares. The paper addresses the gap by introducing the interactions of TFP and fiscal deficits, as well as the interaction of wage share and fiscal deficits.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77795270","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

Structural breaks, financial globalization, and financial development: Evidence from Turkey 结构性断裂、金融全球化与金融发展:来自土耳其的证据

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-05 DOI: 10.20885/ejem.vol14.iss2.art5

Pınar Avcı, M. Çetin

{"title":"Structural breaks, financial globalization, and financial development: Evidence from Turkey","authors":"Pınar Avcı, M. Çetin","doi":"10.20885/ejem.vol14.iss2.art5","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss2.art5","url":null,"abstract":"Purpose ― Mishkin’s hypothesis suggests that globalization appears to be a vital factor in stimulating the development of the financial system. The study examines this hypothesis for the Turkish economy from 1970 to 2017. It focuses on the link between financial globalization and financial development by integrating economic growth, inflation, and natural resource rent as additional determinants into the financial development specification.\u0000Methods ― The Ng-Perron and Vogelsang-Perron unit root tests are used to check the stationarity of variables. The cointegration analysis is performed using the Hatemi-J and ARDL bounds testing procedures.\u0000Findings ― The main empirical results show that the series are cointegrated under structural breaks; in the long run, financial globalization and economic growth increase financial development while inflation and natural resource rent negatively affect financial development. A unidirectional causality exists from financial globalization and economic growth to financial development. At the same time, there is bidirectional causality between inflation and financial development, natural resource rent, and financial development.\u0000Implications ― The empirical findings can present important recommendations for policymakers.\u0000Originality ― Very few time-series studies include Turkey’s economy and structural breaks.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76825982","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

Revisiting the asymmetry between the exchange rate and domestic production in South Asian Economies: Evidence from Nonlinear ARDL Approach 重新审视南亚经济体汇率与国内生产之间的不对称:来自非线性ARDL方法的证据

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-05 DOI: 10.20885/ejem.vol14.iss2.art2

J. Iqbal, Misbah Nosheen, M. Wohar

引用次数: 1

Foreign direct investment and economic growth nexus in ECOWAS: The leveraging effect of anti-corruption 西非经共体外国直接投资与经济增长关系:反腐败的杠杆效应

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-05 DOI: 10.20885/ejem.vol14.iss2.art3

G. Asante, Kofi Kamasa, Myles Bartlett

{"title":"Foreign direct investment and economic growth nexus in ECOWAS: The leveraging effect of anti-corruption","authors":"G. Asante, Kofi Kamasa, Myles Bartlett","doi":"10.20885/ejem.vol14.iss2.art3","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss2.art3","url":null,"abstract":"Purpose ― This paper sought to investigate the interactive effect of corruption and FDI on economic growth in the Economic Community of West African States (ECOWAS) region empirically.\u0000Methods ― With panel data spanning 2000–2019 across 15 ECOWAS countries, this paper estimates its results by employing the system-GMM estimator, which combines a system of regressions in difference and in levels to resolve the problem of endogeneity.\u0000Findings ― Results reveal that while FDI independently spurs economic growth, control of corruption has no direct effect on growth in the region. The interactive effects reveal the complementarity between FDI and control of corruption in promoting economic growth in the ECOWAS region. The growth effect of FDI is larger and stronger given an improvement in the control of corruption across the 1st, 5th, 10th, and 25th percentiles.\u0000Implication ― To improve investor confidence, bolster FDI inflows and optimize its beneficial impacts on economic growth, this paper calls for measures to increase transparency and stronger political commitment to strictly investigate, prosecute and punish corruption in the ECOWAS region.\u0000Originality/value ― Although foreign direct investment (FDI) to host countries have been shown in the literature to be a crucial driver of economic growth, little is known about how anti-corruption measures affect the FDI-growth relationship. This paper contributes to policy by providing empirical evidence to bridge this gap.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82655908","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

Revisiting the threshold effect of corruption in the link between public debt and economic growth in Nigeria 重新审视尼日利亚公共债务与经济增长之间腐败的门槛效应

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-10-05 DOI: 10.20885/ejem.vol14.iss2.art1

E. Ogbaro, Ademola Obafemi Young, Rebecca Folake Bank-Ola

{"title":"Revisiting the threshold effect of corruption in the link between public debt and economic growth in Nigeria","authors":"E. Ogbaro, Ademola Obafemi Young, Rebecca Folake Bank-Ola","doi":"10.20885/ejem.vol14.iss2.art1","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss2.art1","url":null,"abstract":"Purpose ― This study contributes to the empirical literature on the nonlinear relationship between public debt and economic growth in Nigeria using threshold regression methodology. It provides insight into how Nigeria can grow out of debt sustainably in the face of the prevailing level of corruption as an institutional indicator.\u0000Method ― Stata's threshold command is used for data analysis, and this command fits time-series threshold models in finding the optimal number of thresholds. It does this by minimising an information criterion and using conditional least squares to estimate the parameters of the threshold regression model.\u0000Findings ― The results show that the relationship between public debt and economic growth is nonlinear. The threshold effect of public debt on growth depends on the debt-to-GDP ratio and the level of corruption. Substantial evidence supports two threshold levels of debt-to-GDP ratio and corruption in the debt-growth nexus. The two threshold levels of corruption are 63.21 and 64.27 (on a scale of 0 to 100), with the growth effect of public debt being positive and significant in the second regime only.\u0000Implication ― Public debt exerts significant positive effects on growth as long as corruption is kept at a moderate level. Thus, the government of Nigeria needs to ensure that corruption is pegged at a fairly moderate level that will guarantee the positive contribution of accumulated debt to economic growth.\u0000Originality ― Unlike previous works, the study addresses the problem caused by the mechanical effect of a change in the real GDP growth rate on debt. It is based on the assumption of a maximum of two thresholds.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74416484","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

Rage against the machine: A money-burning field experiment 对机器的愤怒:一个烧钱的实地实验

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-05-19 DOI: 10.20885/ejem.vol14.iss1.art11

Muhammad Ryan Sanjaya

{"title":"Rage against the machine: A money-burning field experiment","authors":"Muhammad Ryan Sanjaya","doi":"10.20885/ejem.vol14.iss1.art11","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss1.art11","url":null,"abstract":"Purpose ― This study investigates antisocial behaviour where participants made payoff destruction decisions (“money burning”) that are conditional on the co-participant being a human or a computer.\u0000Methods ― This study uses the joy-of-destruction minigame experiment with Indonesian citizens living in Australia as the participants. Regression methods are used to observe whether discrimination occurs and to identify factors associated with antisocial behaviour.\u0000Findings ― This study finds money burning against the computer to be more prevalent than against humans. There was very limited support that such behaviour was correlated with demographic characteristics or subjective norms, suggesting that the presence of a computer co-participant drives the result.\u0000Implications ― The results have a methodological implication for experimental economics where experimenters should anticipate that computer players may have an unforeseen impact on human behaviour. Policy-wise, the study shows a relatively cohesive community which may be driven by the multicultural policy of Australia.\u0000Originality ― This is the first antisocial behaviour economics experiment that includes a computer as a potential co-participant.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76428729","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

Foreign direct investment, efficiency, and total factor productivity: Does technology intensity classification matter? 外商直接投资、效率与全要素生产率:技术强度分类重要吗?

IF 0.5

Economic Journal of Emerging Markets Pub Date : 2022-04-28 DOI: 10.20885/ejem.vol14.iss1.art4

M. Yasin, D. Sari

{"title":"Foreign direct investment, efficiency, and total factor productivity: Does technology intensity classification matter?","authors":"M. Yasin, D. Sari","doi":"10.20885/ejem.vol14.iss1.art4","DOIUrl":"https://doi.org/10.20885/ejem.vol14.iss1.art4","url":null,"abstract":"Purpose ― We examine whether the foreign direct investment (FDI) in promoting technical efficiency is controlled by the sector classifications based on the technology intensity (High Technology, Medium-High Technology, Medium-Low Technology, and Low Technology).\u0000Methods ― We use the Indonesian firm-level dataset of the large and medium manufacturing survey from 2007 to 2015 and employ the time-varying stochastic production frontier.\u0000Findings ― We reveal that FDI, technology intensity and absorptive Capacity significantly affect firms' production and efficiency. We also found that the Indonesian manufacturing industry from 2007 to 2015 experienced positive Total Factor Productivity growth, where High-Technology sectors experienced the largest magnitude among others. Meanwhile, technological progress stemming from FDI is enjoyed more by Low Technology sectors. Meaning to say, technology intensity classification does not matter to technological progress.\u0000Implication ― The host country's government should focus on industries with high technical capabilities to accelerate FDI gains for the firms. Simultaneously, human capital improvement also needs to be intensified, for instance, through training or human development, so that firms with lower technical capability can catch up and, consequently, receive similar benefits from FDI activities.\u0000Originality ― Our study accommodates the research gap by including the FDI effect in both productivity and efficiency in a single equation. Many studies merely categorize technology intensity following the stochastic production frontier estimation to obtain technical efficiency or TFP growth. In this sense, those studies did not control the impact of the technology-specific effect.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2022-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80524176","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