{"title":"Institutional factors, entrepreneurship capital types, and economic growth in Asian countries","authors":"D. Luu","doi":"10.20885/EJEM.VOL12.ISS2.ART5","DOIUrl":"https://doi.org/10.20885/EJEM.VOL12.ISS2.ART5","url":null,"abstract":"The study investigates the relationship between institutional factors, entrepreneurial types, and economic growth. The analysis is based on an unbalanced panel data of 18 Asian countries over 2006-2018 using a 3SLS estimation method. The study extends the neoclassical growth model with entrepreneurship capital types as an endogenous variable to the economic growth function. Findings/Originality : The results show that new business density and productive entrepreneurship are found to have a significant effect on GDP per capita. Additionally, a reverse impact of economic growth on entrepreneurship is revealed. Institution's constructs, namely corruption control and the rule of law, are crucial to entrepreneurship, which in turn stimulate economic growth. The results also confirm the significant role of human capital, accumulating domestic investment, economic openness, and controlling inflation in the economic growth model of the Asian countries.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75802229","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 real effective exchange rate on revealed comparative advantage and trade balance of Pakistan","authors":"Muhammad Siddique, Ahsan Anwar, M. A. Quddus","doi":"10.20885/ejem.vol12.iss2.art6","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss2.art6","url":null,"abstract":"This study estimates the effects of devaluation and appreciation of real effective exchange rate ( REER ) on revealed comparative advantage ( RCA ) at Harmonized System 2-digit level of exports in Pakistan. A non-linear Autoregressive Distribute Lag ( ARDL ) technique is applied to test the asymmetric evidence. This study employs two models to explore the export performance. Findings/Originality: The results of model 1 estimation confirm the proof of asymmetric ARDL and concludes that devaluation has a positive effect on selected RCA ’s index value and helps enhance exports of Pakistan. Meanwhile, the appreciation of REER is having an adverse impact. Model-2 estimates the effect of these selected RCA’s , REER , and world aggregated income ( Yw ) on the trade balance ( TB ) of Pakistan. The results estimate that an increase in selected RCA’s index values, world aggregated income, and REER depreciation is useful to decrease in deficit TB of Pakistan.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90766006","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":"Oil price and stock market returns uncertainties and private investment in Saudi Arabia","authors":"Imed Medhioub, M. Makni","doi":"10.20885/ejem.vol12.iss2.art7","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss2.art7","url":null,"abstract":"The private sector plays a crucial role in the economy. This paper constructs an empirical model for the sector in Saudi Arabia. It incorporates oil price uncertainty as well as stock market returns volatility to predict the sector. It estimates the GARCH (generalized autoregressive conditional heteroskedasticity) and ARDL (autoregressive distributed lag) models. Findings/Originality: Our estimations show significant evidence of a long-run relationship between private investment, oil price, and the stock market. We also find that the stock market index has a significant positive effect on private investment in the short run. The effects are strong in the case of unexpected news from the oil sector. Oil price uncertainty can be considered as a channel of transmission of negative shocks on the private sector. For these reasons, when Saudi Arabia has launched its 2030 vision, it announced that one of its goals is to become a non-oil dependent country.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86688232","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}
S. E. Jeff-Anyeneh, A. Ananwude, G. Ezu, Andrew Izuchukwu Nnoje
{"title":"Government expenditure and standard of living in an emerging market in Africa–Nigeria","authors":"S. E. Jeff-Anyeneh, A. Ananwude, G. Ezu, Andrew Izuchukwu Nnoje","doi":"10.20885/ejem.vol12.iss2.art4","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss2.art4","url":null,"abstract":"The effect of government expenditure on the standard of living has different impact for various level of economies. In this study, we determined the effect of government recurrent and capital expenditure on the standard of living in Nigeria using a test of causation. The long and short run estimates were done by utilizing an Autoregressive Distributive Lag (ARDL) model using data that spanned from 1981 to 2018. Findings/Originality: Precipitously, we asserted that government recurrent and capital expenditure have a significant effect on the standard of living in Nigeria. Nevertheless, that is not the true reflection of the living standard in the country. There is an enormous need for the government to increase its expenditure on the health sector. Investment in healthcare is positively related to economic growth and has the potential of reducing poverty, hence a better standard of living. The Federal Government of Nigeria ought to, as a matter of direness, prioritize capital expenditure over recurrent expenditure.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86412910","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":"Parametric reform analysis of the Moroccan public pension system","authors":"Hind El-houjjaji, Abdellah Echaoui","doi":"10.20885/ejem.vol12.iss1.art9","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss1.art9","url":null,"abstract":"In 2016, the government of Morocco adopted a parametric reform intended to deal with the critical financial situation of the CMR civilian pension regime. We examine the robustness of this reform using the Cohort-Component population projection model to the fund's population during the period 2014-2064. Then we lead a projection of the scheme financial situation. Moreover, we project the status quo situation and an alternative scenario where we propose to increase the retirement age solely, and then compare the results with those of the 2016 parametric reform. Findings/Originality : For the three scenarios, a parametric reform will have a limited effect on the financial situation, in both the long and the short-term. In long run, it is not sufficient to solve the problem of massive increase of pension scheme deficits while in short run it is not sufficient to eliminate the existing structural problems neither to avoid the future financial deficit. Furthermore, our alternative scenario seems to have some more advantages, comparing with the other scenarios.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78662663","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":"Regional financial inclusion and poverty: Evidence from Indonesia","authors":"I. Fauzan, M. Firdaus, S. Sahara","doi":"10.20885/ejem.vol12.iss1.art3","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss1.art3","url":null,"abstract":"This paper builds a financial inclusion index of thirty-three provinces in Indonesia from formal financial institutions banks. It aim at analyzing how the financial inclusion index relates to regional poverty using a spatial panel econometric approach. Findings/Originality: The results show that the average financial inclusion index of each province in Indonesia is still in a low category, and there is a financial system development inequality between DKI Jakarta Province and other regions. We also find that poverty has a significant negative effect on the financial inclusion index. With the recent migration of residents as a spatial weighting matrix, we decompose the global effect of the poverty variable on the financial inclusion index into a local effect for each province.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83638543","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}
Arya Sohrabi, M. Pishvaee, A. Hafezalkotob, S. Bamdad
{"title":"Analysis of consumer preferences for prepaid mobile internet packages in Iran: A Discrete Choice Experiment","authors":"Arya Sohrabi, M. Pishvaee, A. Hafezalkotob, S. Bamdad","doi":"10.20885/ejem.vol12.iss1.art4","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss1.art4","url":null,"abstract":"As a first discrete choice experiment in Iran emerging telecommunication market, this paper studies consumer preferences for prepaid mobile internet packages with a combined software and paper-based interview. A two-stage Bayesian D-optimal design procedure is deployed to design choice sets of mobile internet packages from four main attributes. The utility structure and customers’ willingness-to-pay for mobile internet packages are analyzed. Findings/originality: The results indicate that even with a considerable price reduction, consumers avoid prepaying for data plans with commitment periods longer than six months and high traffic volume. Traffic volume and brand attributes are recognized as the two most influential factors on consumers’ behavior. Simulating the market demonstrates the competition between mobile internet operators in Iran market. The statistics express a significant effect of consumers’ current mobile operator on their preferences for the brand attribute.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86951318","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":"Empirical investigation on the relationship between exports and economic growth in selected LDCs country groups (1988-2018)","authors":"Khalil Hassan","doi":"10.20885/ejem.vol12.iss1.art1","DOIUrl":"https://doi.org/10.20885/ejem.vol12.iss1.art1","url":null,"abstract":"This study aims to investigate the export-led growth hypothesis for two developing country groups i.e. the Middle East and North African (MENA), and South Asian (SA) countries. The study uses time-series data for the period of (1990-2018) based on the unit root, cointegration, error correction modelling, and Granger causality tests. Findings/originality: The results found a long-run cointegration, but no evidence for significant relations between the variables was confirmed. Furthermore, there is no Granger causality between economic growth and exports in the two directions for the MENA countries. But for the SA countries, we note a unidirectional causality from economic growth to exports, i.e. the growth in both country groups was not driven by an export-led growth strategy. This implies that exports aren’t the cause of output growth, and Accordingly, looking for alternative factors of growth in the countries concerned can be suggested.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86114529","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 effect of the financial crisis on macroeconomic variables in Iraq, Iran, and Turkey","authors":"Y. A. Ahmed, Biaban Nwri Rostam, B. A. Mohammed","doi":"10.20885/EJEM.VOL12.ISS1.ART5","DOIUrl":"https://doi.org/10.20885/EJEM.VOL12.ISS1.ART5","url":null,"abstract":"This study investigates the effect of financial crises on macroeconomic variables that include gross domestic product (GDP), export, inflation, and exchange rates, in some developing countries, namely Iraq, Iran, and Turkey, from 1980 to 2017. In doing so, it performed unit root and cointegration tests and employed generalized least square and panel dynamic least squares estimating methods. Findings/Originality: The empirical results show that the financial crises affect GDP, export, inflation, and exchange rates of the countries at different levels. While the Asian financial crisis shows a significant negative effect on GDP in Iran and Iraq, the global financial crisis exhibits a negative influence on export in all countries. Nevertheless, both Asian and global crises positively affect inflation because financial crises reduce expenditure at the family and government levels. Thus, governments worldwide attempt to minimize the inflation rate.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82214150","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 impacts of liberalization and trade facilitation on economic performance, poverty and income inequality: An analytical study","authors":"Sukoco Sukoco, D. Hartono, A. Patunru","doi":"10.20885/EJEM.VOL12.ISS1.ART6","DOIUrl":"https://doi.org/10.20885/EJEM.VOL12.ISS1.ART6","url":null,"abstract":"This study examines the impacts of import duty and trade transaction cost reductions on economic performance, poverty, and income distribution inequality, through the top-down computable general equilibrium approach. Findings/Originality: It reveals that reducing import duty in agricultural decreases urban poverty but increases the poverty incidence at the rural and national levels. Reducing import duty in agricultural industry lowers urban and national poverty without affecting rural poverty. Meanwhile, the reductions of both import duty and transaction costs bring down the poverty incidence at all levels – urban, rural, and national. The inequality in rural and national income distribution increased due to the cuttings of import duty in agricultural and agricultural industry. However, it declined due to the reduction of transaction costs, and the combined transaction cost with import duty in agricultural or agricultural industry.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2020-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75844567","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}