{"title":"Continuous flood risk reduction on MSMEs: Implementation of MACTOR program","authors":"M. Isa, L. Mangifera","doi":"10.20885/EJEM.VOL11.ISS1.ART12","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART12","url":null,"abstract":"This study aimed at analyzing the vulnerability of an area to flood, identifying the involved stakeholders in the existing institutions, analyzing the significance level and the role of stakeholders in reducing flood risk, and analyzing the relationship among stakeholders in the effort of reducing flood risk in Klaten Regency, Central Java, Indonesia. The data analysis is conducted using indexing, stakeholder analysis based on the MACTOR (Matrix of Alliances and Conflicts: Tactics, Objectives, and Recommendations) program. Findings/Originality : It finds that the vulnerability of the study site is moderate. It also finds some stakeholders that have crucial roles in reducing the flood risk. Their interests can be divided into income, environment, local development and safety. In an effort of reducing the flood risks, Regional Disaster Management Agency along with respective village leaders and volunteers have the central role, while universities have the lowest contribution.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"14 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81046556","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":"Macro-economic determinant and interdependence of the stock markets","authors":"Asim Rafiq, S. Hassan","doi":"10.20885/EJEM.VOL11.ISS1.ART11","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART11","url":null,"abstract":"This study examines the time-varying long-term stock market interdependence between china and the ten emerging economies, using Johansen co-integration and Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroskedasticity (DCC GARCH) model. It analyses the dynamic association between the equity markets and the macroeconomic determinants using panel regression analysis. Findings/originality : The results indicate that the Chinese stock market are co-integrated with the stock market of the other emerging markets. It confirms that the relationship between china and the other emerging economies has been increasing over time. It concludes that there is long run interdependence between the Chinese and the other emerging economies. In addition, the results of the panel regression show that macroeconomic determinants have no significant effect on the equity market correlations between China and the ten emerging economies.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"10 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81093085","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}
Y. Eltahir, O. Sallam, Hussien Omer Osman, Fethi Klabi
{"title":"Volatility interdependences in the Saudi stocks market","authors":"Y. Eltahir, O. Sallam, Hussien Omer Osman, Fethi Klabi","doi":"10.20885/EJEM.VOL11.ISS1.ART8","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART8","url":null,"abstract":"This study attempts to answer whether there is an interaction and volatility between the variances of the stock returns in the Saudi market. The sample represents daily stock prices of five sectors i.e. basic materials, banking, services, food, and transportation (SABIC, Al Rajhi, Etisalat, Almarai, and Al Bahri, respectively) from 2011 to 2016. The study applied the M-GARCH-DVEC methodology to estimate the variances of stock returns considering the interactions of returns. Findings/Originality : The results of the analysis show that there are fluctuations in the returns of stocks due to their interaction, but they are very slight as the results of the general trend of long-term variances. The study concludes that the variances between SABIC and Al Rajhi stocks are more stable compared to those of Etisalat, Almarai, and Al Bahri, which are relatively volatile. The results reveal that the variances in stock market returns are more likely to depend on internal factors.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"7 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79955807","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}
Aida Ariabod, R. Moghaddasi, Y. Zeraatkish, A. M. Nejad
{"title":"Governance and agricultural growth: Evidence from selected developing countries","authors":"Aida Ariabod, R. Moghaddasi, Y. Zeraatkish, A. M. Nejad","doi":"10.20885/EJEM.VOL11.ISS1.ART7","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART7","url":null,"abstract":"Agriculture is a key sector for almost all developing countries. One of the factors influencing agricultural production improvement is government intervention and its important role in improving good governance indicators. This study examines the impact of governance on total agricultural output in developing nations. To address these issues, this paper estimates the panel data regression model. The data of Governance Indicators (GI) is provided by the World Bank. Findings/Originality : The main results suggest a reverse association between overall GI and agricultural growth. In addition, among the six individual GI, control of corruption has the highest impact. It implies that the governance has not addressed the problems in the agricultural sector. On the other hands, the development of agriculture sector is still mainly supported by the economic inputs. It is explained by the evidence that the inputs have positive and significant effect on the value of agricultural production.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"22 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80195401","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":"Demand for Indonesian cocoa beans in a dilemma: Case study Malaysian market","authors":"A. S. Dewanta","doi":"10.20885/EJEM.VOL11.ISS1.ART6","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART6","url":null,"abstract":"Indonesian cocoa industry has been transforming into a processed cocoa exporter by imposing export taxes. The policy has managed to increase exports of processed cocoa and decreased cocoa bean exports. However, overall export value of cocoa commodities (cacao bean and processed cocoa) has a declining trend, where an increase in the export value of processed cocoa has not been able to offset the decline in the export value of cocoa beans. This study evaluates the impact of the cocoa bean export-tax policy on demand for Indonesian cocoa in the Malaysian market using elasticity and ARDL model. Findings/Originality : This study finds that the demand for Indonesian cocoa is short-term in nature, and the volume of Malaysian demand for Indonesian cocoa is rapidly decreasing because cocoa beans is a complement for other cocoa suppliers. These conditions indicate that the quality of Indonesian cocoa does not meet the standard. That is also indicated by the increase in imports of cocoa beans to meet the processing needs of cocoa in Indonesia","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"77 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83908929","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":"Competitiveness analyses of Indonesian and Malaysian palm oil exports","authors":"Tri Nugraha Ramadhani, Rokhedi Priyo Santoso","doi":"10.20885/EJEM.VOL11.ISS1.ART5","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART5","url":null,"abstract":"This study investigates the competitiveness of Indonesian and Malaysian palm oil export with special focus on five major importing countries, namely China, Singapore, India, Pakistan, and Netherlands, from 2001 to 2014. The methods used are Revealed Comparative Advantage (RCA), Revealed Symmetric Comparative Advantage (RSCA) and Constant Market Share (CMS). Findings/Originality : The RCA and RSCA calculations show that Indonesia and Malaysia have positive indices. Yet, Indonesia's RCA and RSCA indices from 2001 to 2014 are higher than those of Malaysia. It demonstrates that Indonesia's palm oil is more competitive than that of Malaysia. Based on CMS calculation, the findings show the following. Firstly, palm oil commodity is influenced by high demand from 2001 to 2014 in five major importing countries. Secondly, both countries have concentrated on the export commodity whose markets have been growing relatively fast. Thirdly, Indonesia's palm oil commodity experiences rapid growth in the selected markets while Malaysia experiences stagnant growth. Overall, Indonesia's palm oil competitiveness is higher than that of Malaysia in five major importing countries.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"26 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77818542","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 spillover effects of foreign direct investment on labor productivity","authors":"Riesta Karentina","doi":"10.20885/EJEM.VOL11.ISS1.ART4","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART4","url":null,"abstract":"This study examines the effect of FDI spillovers, short-term and long-term effects of FDI spillovers on domestic firms’ productivity. It also explores the impact of FDI spillovers on domestic firms’ productivity in different groups of industries based on their factor intensity. Micro-level panel data covering about 20,000 medium and large manufacturing establishments in each year over the period 2010 and 2014 was employed. Findings/Originality : This study suggests that, within the same industry, horizontal spillovers are associated with domestic firms’ productivity: this relationship is negative in the short-term but positive in the long-term. It also demonstrates negative backward spillover effects on domestic firms’ productivity across industries. In addition, this study points out that FDI spillovers affect capital-intensive domestic firms’ productivity.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82695483","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}
N. Nordin, N. Nordin, Murni Yunus Mawar, Norzalina Zainudin
{"title":"Growth effect of foreign direct investment: The role of labor market flexibility","authors":"N. Nordin, N. Nordin, Murni Yunus Mawar, Norzalina Zainudin","doi":"10.20885/EJEM.VOL11.ISS1.ART3","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART3","url":null,"abstract":"This paper deals with the role of the labor market in moderating the growth-effect of foreign direct investment (FDI) in developing countries. FDI has developed rapidly and become the main source of economic growth in developing countries. The purpose of this paper is to examine the role of labor market flexibility in mediating the impact of FDI on economic growth in developing countries. Panel threshold regression analysis proposed by Hansen (1999) is employed to assess the hypothesis of the study. Findings/Originality : The results provide the empirical finding of the role labor market in moderating the growth effect of FDI in developed and developing countries and fill this gap by assessing the role of labor market flexibility as an absorptive capacity in FDI-growth link in developing countries.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"165 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86323434","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":"On the nexus between exchange rate and income distribution in Turkey: ARDL bound testing analysis","authors":"Arif Eser Güzel, Ünal Arslan","doi":"10.20885/EJEM.VOL11.ISS1.ART1","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART1","url":null,"abstract":"If we talk about the importance of variables in economic development, income distribution is not the second to economic growth, especially in emerging countries. These emerging countries are generally characterized by the volatility of exchange rates, especially after most of the countries adopted floating exchange rates system. This paper investigates the impact of an increases in dollar value on income distribution using annual data in the period 1990-2016 for Turkey via an ARDL model and bound testing analysis. In constructing the empirical model, it also considers the impact of GDP per capita on the dependent variable. Findings/Originality : The paper finds that an increase in dollar value leads to a more unequal income distribution in Turkey. The dollar holds an important place in Turkey’s foreign trade. Therefore, the changes in the value of dollar results in significant welfare effects","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"13 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84694860","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}
Huma Nawaz, M. Abrar, Asma Salman, Syed Muhammad Hassan Bukhari
{"title":"Beyond finance: Impact of Islamic finance on economic growth in Pakistan","authors":"Huma Nawaz, M. Abrar, Asma Salman, Syed Muhammad Hassan Bukhari","doi":"10.20885/EJEM.VOL11.ISS1.ART2","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART2","url":null,"abstract":"Islamic finance, which may have been considered only in the context of a multitude of trading structures among economists, merits a fresh evaluation in how it dovetails with and supports national economic growth. This study examines the dynamic interaction between Islamic financing and economic growth of Pakistan by employing the unit root test, cointegration test and Granger Causality tests to see whether the Islamic financial system influences the economic growth. For the analysis, time series data of total Islamic financing and real GDP per capita, Islamic financial assets, and population to represent real economic sector were considered. Findings/Originality : This paper finds that a well-functioning Islamic financial system promotes economic growth. It also finds an evidence of a bidirectional relationship between Islamic asset financing and population. It implies that population reinforces Islamic finance, and population attracts Islamic financing.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":"22 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2019-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83565175","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}