Syajarul Imna Mohd Amin, Aisyah Abdul-Rahman, Hawati Janor, A. Asri, Darmawati Muchtar
{"title":"Financial development and performance of palm oil industry in Malaysia","authors":"Syajarul Imna Mohd Amin, Aisyah Abdul-Rahman, Hawati Janor, A. Asri, Darmawati Muchtar","doi":"10.20885/ejem.vol11.iss2.art2","DOIUrl":"https://doi.org/10.20885/ejem.vol11.iss2.art2","url":null,"abstract":"The finance-growth nexus is gaining credence among researchers. Growing research interest in developing evidences for different economic sectors has ignited this study to examine the topic in agricultural sector for Malaysia. The analysis focuses on palm oil industry using data for the period 1981 to 2017 using the Autoregressive Distributed Lagged (ARDL-bounds) approach. Financial development measures financial depth, accessibility, efficiency, and stability. Other variables include production factors such as land, labour and capital. Findings/Originality : The findings show that the depth of financial market has positive impact on palm oil industry performance both in the short run and long run, though the depth of the financial institutions only take effect in the long run. Meanwhile the financial accessibility, efficiency and stability have no significant effect on the productivity of the industry. It implies that the equity market development is more relevant to affect the palm oil industry compared to credit market development.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2019-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75536334","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":"Willingness to pay and actual purchase decision for organic agriculture products in Vietnam","authors":"D. Luu","doi":"10.20885/ejem.vol11.iss2.art1","DOIUrl":"https://doi.org/10.20885/ejem.vol11.iss2.art1","url":null,"abstract":"This article aims to investigate the determinants of willingness to pay and the actual purchase decision of organic agriculture products among consumers in Vietnam, one of the emerging markets. The study uses primary survey data of 210 consumers based on the logit and ordered logit regression models. Findings/Originality: The results confirmed that consumers' perceptions of external factors and product attributions, external factors (processing, packaging, and labelling, certification, supply of product), perceived health and nutrition of products, socioeconomic characteristics significantly influence on consumer’s willingness to pay and actual purchase decision for organic foods in the context of Vietnam market. These results of the study provided insights for marketers on the key variables that could be used for promoting more widespread consumption of organic foods in the country.","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2019-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87176921","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":"Financial development and economic growth in Indonesia: An ARDL-Bounds testing approach","authors":"Leli Sumarni","doi":"10.20885/EJEM.VOL11.ISS1.ART9","DOIUrl":"https://doi.org/10.20885/EJEM.VOL11.ISS1.ART9","url":null,"abstract":"The objective of this paper is to analyze the influence of financial development on economic growth in Indonesia using quarterly time series data for the period of 2005 to 2016. It uses an Autoregressive Distributed Lagged (ARDL-bounds) testing approach to cointegration to estimate the relationships among the variables. The financial development indicators used in this paper are financial credit, financial asset, and third-party funding. Findings/Originality: The results of the ARDL model estimates indicate that the variable is cointegrated and there is a long-run relationship between the variables, and therefore, there is a long-term causal relationship. The long-run estimation results disclose a significant positive relationship between economic growth and financial development, where economic growth is found to be significantly influenced by financial development indicators. Normal 0 false false false IN X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ \u0000 table.MsoNormalTable \u0000 {mso-style-name:\"Table Normal\"; \u0000 mso-tstyle-rowband-size:0; \u0000 mso-tstyle-colband-size:0; \u0000 mso-style-noshow:yes; \u0000 mso-style-priority:99; \u0000 mso-style-qformat:yes; \u0000 mso-style-parent:\"\"; \u0000 mso-padding-alt:0cm 5.4pt 0cm 5.4pt; \u0000 mso-para-margin:0cm; \u0000 mso-para-margin-bottom:.0001pt; \u0000 mso-pagination:widow-orphan; \u0000 font-size:11.0pt; \u0000 font-family:\"Calibri\",\"sans-serif\"; \u0000 mso-ascii-font-family:Calibri; \u0000 mso-ascii-theme-font:minor-latin; \u0000 mso-fareast-font-family:\"Times New Roman\"; \u0000 mso-fareast-theme-font:minor-fareast; \u0000 mso-hansi-font-family:Calibri; \u0000 mso-hansi-theme-font:minor-latin; \u0000 mso-bidi-font-family:\"Times New Roman\"; \u0000 mso-bidi-theme-font:minor-bidi;}","PeriodicalId":41472,"journal":{"name":"Economic Journal of Emerging Markets","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2019-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77439775","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":"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":null,"pages":null},"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":null,"pages":null},"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":null,"pages":null},"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":null,"pages":null},"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":null,"pages":null},"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":null,"pages":null},"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":null,"pages":null},"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}