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Saha, Shrabani, Girijasankar Mallik, and Dimitrios Vortelinos. "Does Corruption Facilitate Growth? A Cross-national Study in a Non-linear Framework." South Asian Journal of Macroeconomics and Public Finance 6, no. 2 (October 23, 2017): 178–93. http://dx.doi.org/10.1177/2277978717727174.
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The article examines the corruption–growth relationship in a non-linear framework using panel fixed effects (FE) and system generalized methods of moments (SGMM) model for over 110 countries for the period 1984–2009. The results reveal that the least corrupt countries enjoy higher growth rates, whereas highly corrupt countries experience low growth. Furthermore, corruption has a positive and significant effect on economic growth up to a certain level and thereafter it reduces growth. The results are robust under various methodology and an alternative measure of corruption. JEL Classification: D73, O47, O50
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Nguyen Phuong, Lien, and Thanh Su Dinh. "Tax revenue, expenditure, and economic growth: An analysis of long-run relationships." Journal of Asian Business and Economic Studies 24, no. 03 (July 1, 2017): 04–26. http://dx.doi.org/10.24311/jabes/2017.24.3.02.
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Focusing on the investigation of “long-term” relationship between tax revenue, expenditure, and economic growth, this paper employs the Granger causality test and finds that the linkage between tax revenue and spending is a bi-directional causal correlation. Furthermore, applying Persyn and Westerlund’s (2008) co-integration test allows for corroboration of existence of long-run cointegration linkages among outcome of economy and the three variables. In addition, by adopting two-step system generalized method of moments (SGMM) for a dynamic panel of 82 developed and developing countries during 16-year period (2000–2015), this research demonstrates that the impact of tax revenue and spending is substantial and ambiguous, depending on different groups of economies.
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Tram, Thi Xuan Huong, and Nguyen Thi Thanh Hoai. "Effect of macroeconomic variables on systemic risk: Evidence from Vietnamese economy." Economics and Business Letters 10, no. 3 (August 2, 2021): 217–28. http://dx.doi.org/10.17811/ebl.10.3.2021.217-228.
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This paper aims to find out the relationship between systemic risk in Vietnam and the effects of macroeconomic factors, including exchange rate, interest rates, and economic growth. We collect data from the Vietnamese stock market, specifically 29 listed financial firms (banks, insurance companies, and securities firms) for the period 2010-2018. The analysis is performed in two steps including systematic risk measurement in Vietnam based on the Systemic Expected Shortfall (SES) method and providing evidence from analysis related to the risk determinants assessment. Besides ordinary least squares (OLS) methods, we make use of fixed-effects (FEM) estimations, random-effects (REM) estimations, and system generalized method of moments (SGMM). The empirical evidence in this paper indicates that economic growth has a negative relationship on systemic risk in Vietnam while the exchange rate has a positive impact on systemic risk, and the interest rate has a negative relationship on systemic risk in Vietnam. Future studies can address the effects of interest rate on systemic risk during this period.
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Ezeaku, Hillary Chijindu, Ifeoma C. Nwakoby, Obiamaka P. Egbo, and Josaphat U. J. Onwumere. "On the Dynamic Effect of Bilateral Concessional Debts on Living Standards in Sub-Saharan Africa." SAGE Open 9, no. 3 (July 2019): 215824401987787. http://dx.doi.org/10.1177/2158244019877879.
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This article assesses the effectiveness of bilateral concessional debts on living standards in 29 sub-Saharan African (SSA) countries over the period 1999-2017 using the system generalized method of moments (SGMM). The SGMM linear estimate is based on a two-step procedure, which controls for heteroscedasticity. The results provide evidence that bilateral concessional debts had positive and significant impact on living standards as proxied by the human development index (HDI) within the period. It is observed that 1% change in bilateral concessional debts is associated with about 8.4% improvement in living standards. Gross domestic savings are positively and significantly related to living standards and account for 3.1% increase in living standards. However, gross domestic investment and population growth exerted a negative influence on living standards during the period, whereas a 1% increase in gross domestic investment and population led to approximately 1.40% and 1.63% decline in living standards in the region, respectively. We therefore conclude that, although bilateral concessional debts have yielded the desired effect on living standards in the SSA, there is need for improvements in aid effectiveness. Thus, improved donor effort and collaboration with beneficiary governments in determining development needs and priorities in the region is critical.
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Majeed, Muhammad Tariq, and Anwar Shah. "An Empirical Analysis of Economic Performance of Asian Economies: The Role of Electronic Government." Review of Economics and Development Studies 4, no. 1 (June 1, 2018): 91–102. http://dx.doi.org/10.26710/reads.v4i1.284.
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Information and communication technology (ICT) plays a key role in explaining the growth patterns of an economy. Many of Asian economies have exhibited high growth patterns in recent years. What explains economic performance of Asian economies? Does implementation of ICT in public sector matters for the growth of Asian economies? To answer this question, this study analytically explores and empirically tests the linkages of ICT in public sector with economic performance reusing the panel data of 34 Asian economies over the period 2003-2015. For empirical analysis, this study uses Fixed Effects, Random Effects, and System Generalized Method of Moments (SGMM) estimation techniques. The empirical results show that e-government plays a positive and significant role in economic performance of the Asian economies. This finding remains robust even after controlling the effects of trade, government consumption and inflation.
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Ogundipe, Adeyemi. "Commodity price volatility and economic growth in Africa: the mitigating role of trade policy." Problems and Perspectives in Management 18, no. 3 (October 5, 2020): 350–61. http://dx.doi.org/10.21511/ppm.18(3).2020.29.
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The extreme volatile behavior of Africa’s output and consumption is strongly related to the extent of exposure to external shocks in its trade earnings. The volatility of export earnings inherent in African economies depicts trade and export structure not diversified, and the need for development managers in easing the over-arching dependence on commodity exports earnings as a major source of budget financing. This study investigates the effect of commodity price volatility on real GDP using a longitudinal data covering fifty-three African commodity-dependent countries for the period 1970–2017. The theoretical framework is premised on the neoclassical growth model, and the system generalized method of moments (SGMM) estimation technique was adopted. The results from the estimation procedure indicate a negative contemporaneous relationship between commodity price volatility and growth. However, the intervention of policy instruments such as contrasting openness degree signals short-run relief for commodity export-dependent economies, as trade policy mitigates the adverse effect of commodity price volatility on growth.
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ANWAR, MUHAMMAD AWAIS, NOMAN ARSHED, and MUHAMMAD IBRAHIM SAEED. "Domestic Terrorism, Investment and Economic Growth: Evidence from Developing Countries." International Review of Management and Business Research 9, no. 4 (December 7, 2020): 233–44. http://dx.doi.org/10.30543/9-4(2020)-20.
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The main objective of the study is to empirically examine the relationship between domestic terrorism, investment and economic growth. The study finds the implication of domestic terrorism on investment and growth among 26 Muslim and 14 Christian developing countries. Data regarding the incidence of terrorism are obtained from Global Terrorism Database (2015). While, economic data are obtained from World Development Indicators (WDI, 2015). The data on external and internal conflict have been extracted from Global Conflict Risk Index (GCRI, 2015) for the time period 1990-2015. Ordinary least square (OLS), feasible generalized least squares (FGLS) and system generalized method of moment (SGMM) approaches were applied to ensure robust results with different specification of models by using dummy variable. The value of Dummy variable is 1, if country is Muslim otherwise 0. For all specifications, it is confirmed that increase in domestic terrorism will decrease the level of investment directly, but the percentage decrease in investment due to terrorism is high among Muslim as compared to Christian developing economies. The results indicate the public policy efforts to mitigate the loss of private investment which can be done initially by public investments to ensure public safety. Keywords: OLS, FGLS, SGMM, Domestic Terrorism, Muslim and Christian Developing Countries.
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Smriti, Neha, and Niladri Das. "The impact of intellectual capital on firm performance: a study of Indian firms listed in COSPI." Journal of Intellectual Capital 19, no. 5 (October 8, 2018): 935–64. http://dx.doi.org/10.1108/jic-11-2017-0156.
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Purpose The purpose of this paper is to examine the effect of intellectual capital (IC) on financial performance (FP) for Indian companies listed on the Centre for Monitoring Indian Economy Overall Share Price Index (COSPI). Design/methodology/approach Hypotheses were developed according to theories and literature review. Secondary data were collected from Indian companies listed on the COSPI between 2001 and 2016, and the value-added intellectual coefficient (VAIC) of Pulic (2000) was used to measure IC and its components. A dynamic system generalized method of moments (SGMM) estimator was employed to identify the variables that significantly contribute to firm performance. Findings Indian listed firms appear to be performing well and efficiently utilizing their IC. Overall, human capital had a major impact on firm productivity during the study period. Furthermore, the empirical analysis showed that structural capital efficiency and capital employed efficiency were equally important contributors to firm’s sales growth and market value. The growing importance of the contribution of IC to value creation was consistently reflected in the FP of these Indian companies. Practical implications This study has robust theoretical grounds and employs a validated methodology. The present study extends knowledge of IC among academicians and managers and highlights its contribution to value creation. The findings may help stakeholders and policymakers in developing countries properly reallocate intellectual resources. Originality/value This study is the first study to evaluate IC and its relationship with traditional measures of firm performance among Indian listed firms using dynamic SGMM and VAIC models.
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Akinbode, Sakiru Oladele, Adewale Oladapo Dipeolu, Tobi Michael Bolarinwa, and Oladayo Babaseun Olukowi. "Effect of health outcome on economic growth in sub-Saharan Africa: a system generalized method of moment approach." Journal of Economics and Development 23, no. 3 (March 22, 2021): 254–66. http://dx.doi.org/10.1108/jed-06-2020-0078.
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PurposeSome progress have been made over time in improving health conditions in Sub-Saharan Africa (SSA). There are, however, contradicting reports on the relationship between health outcomes and economic growth in the region. The paper aimed at assessing the effect of health outcome on economic growth in SSA.Design/methodology/approachData for 41 countries from 2000 to 2018 were obtained from WDI and WGI and analyzed using system generalized method of moment (sGMM) which is appropriate for the present scenario. AR(1) and AR(2) tests were used to assess the validity of the model while Sargan and Hansen tests were adopted to examine the validity of the instrumental variables. The robustness of the estimation was confirmed using the pooled OLS and fixed effect regression.FindingsHealth outcome (proxied by life expectancy), lagged GDP per capita, capital formation, labor force (LF), health expenditure (HE), foreign direct investment (FDI) and trade openness (TOP) significantly affected economic growth emphasizing the importance of health in the process of economic growth in the region. AR(1) and AR(2) tests for serial correlation and Sargan/Hansen tests confirmed the validity of the estimated model and the instrumental variables respectively. Robustness of the GMM results was established from the pooled OLS and the fixed effect model results.Social implicationsImprovement in the national health system possibly through the widespread adoption of National Health Insurance, increase government spending on healthcare alongside increased beneficial trade and ease of doing business to facilitate investment were recommended to enhance.Originality/valueThe study used up-to-date data with appropriate methodology.
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AYENAGBO, Kossi. "The Role of Financial Globalization through FDI in Driving Inequality in the Sub-Saharan Region." Applied Economics and Finance 8, no. 5 (September 3, 2021): 10. http://dx.doi.org/10.11114/aef.v8i5.5342.
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This paper examines the relationship between globalization and income inequality in Sub-Saharan Africa (SSA). Globalization is here measured using trade variables like the openness rate (TO), financial variables including FDI while income inequality is measured by the GINI coefficient. This was achieved by using data from 26 countries over the period 2005-2014, using the System Generalized Method of Moments (SGMM) estimator to obtain results from the African context. The results suggested that trade openness exerted an equalizing effect while financial globalization through FDI has been the critical factor driving inequality in the SSA since 2005. The results also showed that outside of FDI, corruption contributes greatly to widening inequality by about 3%. The effect of the other control variables was all together insignificant. The prevailing economic status as portrayed following on the back of the 2008 financial crisis has led to an increase in inequalities in SSA countries. These results are robust to the using of the KOF Globalization index. Through this research, governments and policymakers have to introduce robust and appropriate policies and interventions in their drive for economic growth to decisively deal with corruption and so direct FDI to economically sound targeted priority programs.
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Khan, Khalid, Seema Zubair, and Sinem Derindere Koseoglu. "Are the Millennials Getting Less Married?" Liberal Arts and Social Sciences International Journal (LASSIJ) 4, no. 1 (October 3, 2020): 76–90. http://dx.doi.org/10.47264/idea.lassij/4.1.8.
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The study investigates the causal link between the Millennials (ML) Population (18-37 year age) and the Marriage Rate (MR) (married population/total population) for the countries of France, Germany, Italy, Netherlands, Spain, and the United Kingdom (UK) by using the bootstrap causality test. The findings suggest that ML population has a significant negative impact on MR in Italy and the Netherlands, while MR has a significant negative impact on ML population in Spain. Besides, the System Generalized Method of Moment Regression (SGMM) is conducted to release the effects of the Divorce Rate (DR), Education Attainment (EA), Globalization (GB), Social Protection (SP), Secularization (SEC), House Prices (HP), Financial Crisis (FC), and Working Population of women (WP) variables on MR and ML population. Likewise, the outcomes display that these are the leading factors of explaining ML population. Our results support the two-period model of Peters (1986), which states that MR is the combination of the economic, social, and religious elements and has important policy implications.
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Olagunju, Ogunniyi, Oguntegbe, Raji, and Ogundari. "Welfare Impact of Globalization in Developing Countries: Examining the Mediating Role of Human Capital." Economies 7, no. 3 (August 21, 2019): 84. http://dx.doi.org/10.3390/economies7030084.
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Despite remarkable progress in the fight against poverty during the past few decades, the proportion of the poor living in developing countries is still on the high side. Many countries have promoted integration as an important development strategy; however, its impact on welfare of the poor is still unclear. In this study, we examine the roles of education and health dimensions of human capital in globalization and its impact on the poverty gap and the child mortality rate using cross-country panel data covering 110 developing countries between 1970 and 2015. We use a model based on system generalized method of moments (SGMM) to control for unobserved heterogeneity and potential endogeneity of the explanatory variables. The empirical results reveal that globalization reduces poverty gap and child mortality rate, and that an increase in the stock of human capital in developing economies improves welfare outcomes. The study also finds that human capital strengthens the negative impact of globalization on poverty gap and child mortality rate. For example, should enrollment in secondary school in Nigeria (in 2013) be increased from 39.2% to 61.6%, on average, it could translate into 2508 fewer under-five child deaths. We recommend that interconnectedness and promotion of human capital development should constitute a fundamental component of policy mix targeted at enhancing reduction of poverty and child mortality rate in developing countries.
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Shobande, Olatunji, and Lawrence Ogbeifun. "A Spatial Econometric Analysis on the Impact of COVID-19 on Mortality Outcome." Economics and Business 34, no. 1 (February 1, 2020): 179–200. http://dx.doi.org/10.2478/eb-2020-0013.
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Abstract The study develops and examines the spatial distribution of the Corona Virus Disease (COVID) on mortality outcomes using a global panel dataset of 79 countries. The empirical evidence is based on Fixed Effect (FE) and System Generalized Method of Moment (SGMM) estimator. The predicted variable is proxy with daily mortality outcomes, while the predictor variable is proxy with spatial COVID spread while controlling for social tension and average temperature. The global and regional findings of the study established that spatial variation in COVID spread had positive and significant relationships with mortality outcomes. Further results also indicate that social tension is a contributing factor to the rising daily mortality outcome from the COVD outbreak, whereas temperature variation reduces mortality outcome. Thus, the study recommends the use of statistical modelling to predict and manage the epidemic. Also, there is an urgent demand to deploy essential social need to the vulnerable proportion of the population to reduce the level of social unrest, while strengthening collaborative research among scientists to develop, produce and distribute vaccines that will put an end to the pandemic.
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Anetor, Friday Osemenshan. "Financial development threshold, private capital inflows and economic growth." International Journal of Development Issues 19, no. 1 (January 11, 2020): 77–92. http://dx.doi.org/10.1108/ijdi-06-2019-0099.
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Purpose This study aims to examine the relationship between private capital inflows, financial development and economic growth in 28 sub-Saharan African (SSA) countries between the periods 1995 and 2017. Design/methodology/approach The study used a secondary source of data obtained from the world development indicator (WDI) and used the system generalized method of moments (SGMM) and dynamic panel threshold regression to analyze the data. Findings The study found that foreign direct investment has a negative and significant impact on the economic growth of SSA. The study also found that portfolio investment has a positive impact on economic growth but it is statistically insignificant. However, when portfolio investment interacted with financial development, it became positive and statistically significant presupposing that financial development is a necessary condition for portfolio investment to exert impact on economic growth. Further, the study showed that the interaction of foreign direct investment with financial development has a negative and significant effect on economic growth. Finally, the study found the minimum threshold of financial development at 42.66 per cent. Practical implications Policymakers in SSA should be cautious and critical in the kind of foreign direct investment they attract as the open door policy to attract all kinds of foreign direct investment would not bring about the desired result. Also, policymakers in the region should develop and implement policies that would deepen and strengthen the financial system to foster the development of the country’s financial sector and accelerate economic growth. Originality/value The contribution of the study lies in establishing a minimum threshold of financial development; thus, providing a clear-cut direction for policymakers in SSA countries in their pursuit of financial development and economic growth.
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Jun, Wen, Ihsan Jamil, Bushra Mughal, Junaid Waheed, and Hadi Hussain. "Does Working Women’s Causes Innovation: An Untouched Reality?" E+M Ekonomie a Management 23, no. 4 (December 1, 2020): 102–18. http://dx.doi.org/10.15240/tul/001/2020-4-007.
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Working women play a vital role in all fields of lifestyle and are the pillars of society. Women’s workforce is the key to economic boom, innovation, research and development, growth and prosperity in modern societies. Globally, governments spend billions of dollars to promote the workforce, to enhance their country’s economy and innovation. This research aims to contribute to the knowledge on innovation by working women globally and to investigate how working women affect the process of innovation, using the number of patents and trademarks as innovation indicators. The empirical study adopted a two-stage least squares (2SLS) estimation and generalized method of moments (GMM) with and without robust standard errors. Panel data of 136 countries for the period 1996–2016 was used. The results of this study show that working women positively and statistically significantly explained the patent and trademark, which is a proxy for innovation with other control variables (per capita income, education, research and development, technology, article, industry, and foreign direct investment). Overall, the findings show that working women have a positive effect on innovation – they exert a positive and significant effect on patents and trademarks. The regression results based on GMM and system GMM (SGMM) show how working women influence trademarks and patents. Specifically, the GMM reveals that the regression coefficients of patent and trademark positively affect innovation, with all variables being positive at the 1% level, indicating that the current level of patent and trademark is positive. This implies that working women have favourable economic participation in innovation. This study contributes to the cross-over of knowledge on innovation and working women and reduces the existing scarcity of information on the subject.
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Chen, Weiliang, Xinjian Huang, Yanhong Liu, Xin Luan, and Yan Song. "The Impact of High-Tech Industry Agglomeration on Green Economy Efficiency—Evidence from the Yangtze River Economic Belt." Sustainability 11, no. 19 (September 22, 2019): 5189. http://dx.doi.org/10.3390/su11195189.
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Development is the eternal theme of the times. However, the transformation of the development mode is imminent, and we should abandon the extensive economic development mode and turn to the efficient development of an intensive mode. The high-tech industry will be the decisive force in future industrial development. The agglomeration of the industry will help form economies of scale, thereby improving the effective allocation of resources and promoting productivity. The increase in green economy efficiency is a key factor in achieving green development and an important indicator of achieving the coordinated development of economic development and environmental protection. Therefore, in this study, we try to improve the efficiency of the green economy through industrial agglomeration to achieve green development. In order to solve this problem, we took the Yangtze River Economic Belt as the research object, used Super Slacks-based Measure (SBM) data envelopment analysis (DEA) and general algebraic modeling system (GAMS) to study the green economy efficiency, and then used the system generalized moment method (SGMM) to study the impact of high-tech industry agglomeration on green economy efficiency. According to the empirical test, we found that (1) the green economy efficiency of the Yangtze River Economic Belt shows a volatile upward trend, (2) the green economy efficiency of the Yangtze River Economic Belt differs with time and by region, (3) the agglomeration of the high-tech industry has a lagging effect on the improvement of green economy efficiency, and (4) the regression coefficients of economic development and foreign direct investment are positive and those of environmental regulation and urbanization are negative. Finally, in this paper, we provide corresponding policy recommendations to promote the agglomeration of high-tech industries, thereby improving the efficiency of the green economy.
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Karmani, Majdi, and Rim Boussaada. "Corporate social responsibility and firm performance: does institutional quality matter?" Journal of Applied Accounting Research 22, no. 4 (March 19, 2021): 641–62. http://dx.doi.org/10.1108/jaar-07-2020-0153.
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PurposeThe purpose of this paper is to investigate whether institutional quality influences the corporate social responsibility (CSR) and firm performance (FP) relationship.Design/methodology/approachThis paper uses a large sample of 814 European firms from roughly 2008 to 2017. In order to resolve the problem of endogeneity and heterogeneity the system generalized method of moment is performed.FindingsFirst, the effect of CSR on FP is simultaneously positive and significant for the economic, social and overall score based on an equal-weighted performance of four CSR pillars. Second, we found that the institutional quality matters, as corruption significantly decreases the FP, while government stability law and order exert a positive impact. Third, results suggest, similarly, that FP benefits from the interactional relationship between CSR and institutional quality. Finally, as for firm specifics, we found that the lagged performance and growth rate of sales significantly increase the European FP. However, FP is negatively sensitive to the leverage ratio.Research limitations/implicationsThis study aims to fill the gap in the CSR-FP interrelation and institutional context. Since we have a large number of firms (814) compared to a relatively small temporal dimension (10 years), the dynamic panel data analysis, and more precisely, the SGMM approach, is the most appropriate to resolve the problem of endogeneity and heterogeneity.Practical implicationsThe institutional environment affects the firm's CSR response and results. The strong institutional quality may result in increased regulatory pressures placed on the firm related to social responsibility compliance and can thereby enhance the CSR–FP relationship.Originality/valueTo the best of our knowledge, this is the first study that explored the relationship between CSR–FP and institutional quality in the European context. Indeed, this paper shows that institutional quality mediates the relationship between CSR practices and FP.
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Gök, Adem, and Nausheen Sodhi. "The environmental impact of governance: a system-generalized method of moments analysis." Environmental Science and Pollution Research 28, no. 25 (February 26, 2021): 32995–3008. http://dx.doi.org/10.1007/s11356-021-12903-z.
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Malykhina, Galina, Dmitry Tarkhov, Viacheslav Shkodyrev, and Tatiana Lazovskaya. "Intelligent LED Certification System in Mass Production." Sensors 21, no. 8 (April 20, 2021): 2891. http://dx.doi.org/10.3390/s21082891.
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It is impossible to effectively use light-emitting diodes (LEDs) in medicine and telecommunication systems without knowing their main characteristics, the most important of them being efficiency. Reliable measurement of LED efficiency holds particular significance for mass production automation. The method for measuring LED efficiency consists in comparing two cooling curves of the LED crystal obtained after exposure to short current pulses of positive and negative polarities. The measurement results are adversely affected by noise in the electrical measuring circuit. The widely used instrumental noise suppression filters, as well as classical digital infinite impulse response (IIR), finite impulse response (FIR) filters, and adaptive filters fail to yield satisfactory results. Unlike adaptive filters, blind methods do not require a special reference signal, which makes them more promising for removing noise and reconstructing the waveform when measuring the efficiency of LEDs. The article suggests a method for sequential blind signal extraction based on a cascading neural network. Statistical analysis of signal and noise values has revealed that the signal and the noise have different forms of the probability density function (PDF). Therefore, it is preferable to use high-order statistical moments characterizing the shape of the PDF for signal extraction. Generalized statistical moments were used as an objective function for optimization of neural network parameters, namely, generalized skewness and generalized kurtosis. The order of the generalized moments was chosen according to the criterion of the maximum Mahalanobis distance. The proposed method has made it possible to implement a multi-temporal comparison of the crystal cooling curves for measuring LED efficiency.
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KIEN, Tran Nhuan, and Yoon HEO. "IMPACTS OF TRADE LIBERALIZATION ON EMPLOYMENT IN VIETNAM: A SYSTEM GENERALIZED METHOD OF MOMENTS ESTIMATION." Developing Economies 47, no. 1 (February 22, 2009): 81–103. http://dx.doi.org/10.1111/j.1746-1049.2009.00077.x.
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Doanh, Nguyen Khanh, Nguyen Ngoc Quynh, and Yoon Heo. "Impacts of ecosystem vitality on ASEAN’s agricultural exports: A System Generalized Method of Moments approach." International Area Studies Review 23, no. 4 (December 2020): 335–51. http://dx.doi.org/10.1177/2233865920957209.
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This study examined the impact of the Association of Southeast Asian Nations (ASEAN)’s ecosystem vitality (EV) on its agricultural exports to the rest of the world. Using a sample of the six major ASEAN countries (ASEAN-6) (including Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) and their 72 trading partners for the period 2007–2016, we found robust evidence of a positive relationship between the quality of EV and the volume of agricultural exports. At the sectoral level, the quality of EV had the most substantial effects on the ASEAN’s exports of SITC-0 (food and live animals) and exerted the least impact on the ASEAN’s exports of SITC-2 (crude materials, inedible, except fuels). This empirical evidence implies that natural resource-intensive products are more sensitive to the quality of EV. At the country level, EV has the most potent effect on the ASEAN’s agricultural exports to high-income countries and the least impact on the ASEAN’s agricultural exports to low-income countries. To promote agricultural exports, especially to high-income countries, our empirical results suggest that ASEAN countries need to build specific and effective plans for conservation of environment and management of sustainable ecosystems. JEL Classification: C33, F14, and Q56
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ICHIKI, KENGO. "Improvement of the Stokesian Dynamics method for systems with a finite number of particles." Journal of Fluid Mechanics 452 (February 10, 2002): 231–62. http://dx.doi.org/10.1017/s0022112001006735.
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An improvement of the Stokesian Dynamics method for many-particle systems is presented. A direct calculation of the hydrodynamic interaction is used rather than imposing periodic boundary conditions. The two major difficulties concern the accuracy and the speed of calculations. The accuracy discussed in this work is not concerned with the lubrication correction but, rather, focuses on the multipole expansion which until now has only been formulated up to the so-called FTS version or the first order of force moments. This is improved systematically by a real-space multipole expansion with force moments and velocity moments evaluated at the centre of the particles, where the velocity moments are calculated through the velocity derivatives; the introduction of the velocity derivatives makes the formulation and its extensions straightforward. The reduction of the moments into irreducible form is achieved by the Cartesian irreducible tensor. The reduction is essential to form a well-defined linear set of equations as a generalized mobility problem. The order of truncation is not limited in principle, and explicit calculations of two-body problems are shown with order up to 7. The calculating speed is improved by a conjugate-gradient-type iterative method which consists of a dot-product between the generalized mobility matrix and the force moments as a trial value in each iteration. This provides an O(N2) scheme where N is the number of particles in the system. Further improvement is achieved by the fast multipole method for the calculation of the generalized mobility problem in each iteration, and an O(N) scheme for the non-adaptive version is obtained. Real problems are studied on systems with N = 400 000 particles. For mobility problems the number of iterations is constant and an O(N) performance is achieved; however for resistance problems the number of iterations increases as almost N1/2 with a high accuracy of 10−6 and the total cost seems to be O(N3/2).
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Arif, Imtiaz, Lubna Khan, and Syed Ali Raza. "Effects of corruption on military expenditures." Journal of Financial Crime 26, no. 3 (July 2, 2019): 774–85. http://dx.doi.org/10.1108/jfc-09-2018-0092.
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Purpose This study aims to investigate the effect of corruption on military expenditures in three income level countries. An annual data series of 97 countries covering high-income, middle-income, and low-income regions from 1997 to 2015 is used. Design/methodology/approach The cross-sectional dependency and integration property of the data series was checked before applying the generalized method of moments approach to test the model. Findings The results of the system generalized method of moments approach suggest that corruption increases the military budget of high-income countries, whereas corruption reduces the military budget of the middle- and low-income countries. Originality/value This paper offers some substantial implications for the policymakers of each income group to curb corruption and improve economic development.
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Loukil, Kamilia. "Macroeconomic Determinants of Entrepreneurship in Emerging and Developing Countries." Business and Economic Research 9, no. 4 (October 27, 2019): 79. http://dx.doi.org/10.5296/ber.v9i4.15713.
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This study examines which factors in macroeconomic environment can stimulate entrepreneurial activity in emerging and developing countries. We employ a System Generalized Method of Moments (System GMM) technique to examine determinants of entrepreneurial activity for a panel of 30 countries during the period 2004-2012. Findings show the importance of demand and institutional framework for new business entry. Moreover, we find that entrepreneurship is an autoregressive process.
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Bozhechkova, A. V., and D. V. Petrova. "Real Exchange Rate and Competitiveness of National Economy." Scientific Research of Faculty of Economics. Electronic Journal 11, no. 2 (June 28, 2019): 91–106. http://dx.doi.org/10.38050/2078-3809-2019-11-2-91-106.
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The article presents the results of empirical investigation devoted to assessing the degree of impact of real exchange rate on economic growth and the dynamics of total factor productivity for various groups of countries, including the CIS countries, countries exporting raw materials, developing countries targeting inflation, in the period 1990-2017 years, using the system generalized method of moments.
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Khurshudyan, Asatur ZH. "Generalized control with compact support for systems with distributed parameters." Archives of Control Sciences 25, no. 1 (March 1, 2015): 5–20. http://dx.doi.org/10.1515/acsc-2015-0001.
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Abstract We propose a generalization of the Butkovskiy's method of control with compact support [1] allowing to derive exact controllability conditions and construct explicit solutions in control problems for systems with distributed parameters. The idea is the introduction of a new state function which is supported in considered bounded time interval and coincides with the original one therein. By means of techniques of the distributions theory the problem is reduced to an interpolation problem for Fourier image of unknown function or to corresponding system of integral equalities. Treating it as infinite dimensional problem of moments, its L1, L2 and L∞-optimal solutions are constructed explicitly. The technique is explained for semilinear wave equation with distributed and boundary controls. Particular cases are discussed.
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Di Pisa, C., M. H. Aliabadi, and A. Young. "Boundary element method analysis of assembled plate structures undergoing large deflection." Journal of Strain Analysis for Engineering Design 45, no. 3 (January 12, 2010): 179–95. http://dx.doi.org/10.1243/03093247jsa571.
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The boundary element method (BEM) for large deflection of shear deformable plates is reformulated to the case of multi-section assembled plate structures. Each plate section is modelled as a BEM region under membrane and bending loads, with force, moments, displacements, and rotations represented by generalized traction and displacement nodal variables on the boundary. Non-linear terms in the boundary integral formulation for each section that arises owing to large deflection are treated as effective body forces, and the associated domain integrals are transformed into boundary integrals using the dual reciprocity method. Derivatives of stresses and deflection on the boundary arise in the non-linear terms, and are evaluated by exploring their values at interior domain points using radial basis functions. Plate sections are joined along their edges using compatibility and equilibrium conditions involving the generalized traction and displacement nodal variables. The resulting non-linear equation system is solved numerically using an incremental load approach. An illustrative example of the method is presented for a transversely loaded plate reinforced with Z-stringers.
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Aghdam, Mohammad Mohammadi, M. R. N. Farahani, M. Dashty, and S. M. Rezaei Niya. "Application of Generalized Differential Quadrature Method to the Bending of Thick Laminated Plates with Various Boundary Conditions." Applied Mechanics and Materials 5-6 (October 2006): 407–14. http://dx.doi.org/10.4028/www.scientific.net/amm.5-6.407.
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Bending analysis of thick laminated rectangular plates with various boundary conditions is presented using Generalized Differential Quadrature (GDQ) method. Based on the Reissner first order shear deformation theory, the governing equations include a system of eight first order partial differential equations in terms of unknown displacements, forces and moments. Presence of all plate variables in the governing equations provide a simple procedure to satisfy different boundary condition during application of GDQ method to obtain accurate results with relatively small number of grid points even for plates with free edges .Illustrative examples including various combinations of clamped, simply supported and free boundary condition are given to demonstrate the accuracy and convergence of the presented GDQ technique. Results are compared with other analytical and finite element predictions and show reasonably good agreement.
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Sapountzakis, EJ, and IN Tsiptsis. "Generalized vibration analysis of beams including warping effects by isogeometric methods." Journal of Vibration and Control 24, no. 6 (January 5, 2017): 1032–50. http://dx.doi.org/10.1177/1077546316685679.
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In this paper, the Isogeometric tools, either integrated in the Finite Element Method (FEM) or in a Boundary Element based Method (BEM) called Analog Equation Method (AEM), are employed for the vibration analysis of homogeneous beams of arbitrary cross section (thin- or thick- walled) taking into account nonuniform warping and shear deformation effects (shear lag due to both flexure and torsion). The beam is subjected to the combined action of arbitrarily distributed or concentrated axial and transverse loading, as well as to bending, twisting and warping moments. Its edges are subjected to the most general boundary conditions. By employing a distributed mass model system accounting for longitudinal, transverse, rotatory, torsional and warping inertia, ten boundary value problems with respect to the variable along the beam time-dependent 1-D kinematical components are formulated. The numerical solution or the spectrum analysis of the aforementioned problems is performed through IGA, FEM and AEM, leading to a system of second-order differential equations, which are quasi-static and solved for the free vibration case, formulating a generalized eigenvalue problem. Special cases of the generalized problem have also been studied in order to demonstrate the efficiency of AEM in reducing computational effort and improving accuracy, especially when combined to Isogeometric tools, such as NURBS and B-splines.
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Zhao, Yang, and Zichun Xu. "The Impact of Cross-Border Capital Flows on the Chinese Banking System." SAGE Open 11, no. 2 (April 2021): 215824402110214. http://dx.doi.org/10.1177/21582440211021410.
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With the accelerated opening of China’s capital account, China’s banking sector is exposed to the impacts of cross-border capital flows. This article explores the impact of cross-border capital flows on banks’ risk-taking in China. Employing bank-level data of 50 Chinese commercial banks from 2005 to 2018 and a sys-GMM (system generalized method of moments) estimation method, we show that cross-border capital flows are positively associated with the risk-taking of Chinese commercial banks. Moreover, banks that are larger, more capital adequate, and more profitable are more sensitive to the degree of capital account openness toward risk-taking, and the capital account openness has the greatest influence on the profitability-driven bank risk-taking. Nevertheless, such positive effects of capital account openness on bank risk-taking may be weakened under bad macro-environment, indicated by low economic growth, poor legitimate law enforcement, and unstable political condition.
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ADJEI-FRIMPONG, KOFI, CHRISTOPHER GAN, and BAIDING HU. "EFFICIENCY AND COMPETITION IN THE GHANAIAN BANKING INDUSTRY: A PANEL GRANGER CAUSALITY APPROACH." Annals of Financial Economics 08, no. 01 (June 2013): 1350004. http://dx.doi.org/10.1142/s2010495213500048.
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This study examines the causal link between bank efficiency and bank competition. The study estimates bank competition with the Lerner index and bank cost efficiency with data envelopment analysis using annual data over the period 2001–2010. Using system generalized method of moments (system GMM) estimator, the results suggest that bank cost efficiency positively Granger-causes market power and hence causality negatively runs from bank cost efficiency to bank competition indicating that bank cost efficiency precedes bank competition. However, the reverse causality running from bank competition to bank cost efficiency is not supported.
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Jia, Wantao, Yong Xu, Dongxi Li, and Rongchun Hu. "Stochastic Analysis of Predator–Prey Models under Combined Gaussian and Poisson White Noise via Stochastic Averaging Method." Entropy 23, no. 9 (September 13, 2021): 1208. http://dx.doi.org/10.3390/e23091208.
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In the present paper, the statistical responses of two-special prey–predator type ecosystem models excited by combined Gaussian and Poisson white noise are investigated by generalizing the stochastic averaging method. First, we unify the deterministic models for the two cases where preys are abundant and the predator population is large, respectively. Then, under some natural assumptions of small perturbations and system parameters, the stochastic models are introduced. The stochastic averaging method is generalized to compute the statistical responses described by stationary probability density functions (PDFs) and moments for population densities in the ecosystems using a perturbation technique. Based on these statistical responses, the effects of ecosystem parameters and the noise parameters on the stationary PDFs and moments are discussed. Additionally, we also calculate the Gaussian approximate solution to illustrate the effectiveness of the perturbation results. The results show that the larger the mean arrival rate, the smaller the difference between the perturbation solution and Gaussian approximation solution. In addition, direct Monte Carlo simulation is performed to validate the above results.
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Zhao, Wei, Na Zhou, and Yi Min Zhang. "Random Response Analysis of Vibration Transfer Path Systems with Translational and Rotational Motions ." Applied Mechanics and Materials 423-426 (September 2013): 1543–47. http://dx.doi.org/10.4028/www.scientific.net/amm.423-426.1543.
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This paper based on the generalized probabilistic perturbation finite element method solves the random response analysis problem of vibration transfer path systems with translational and rotational motions. The effective random response analysis approaches are achieved using Kronecker algebra, matrix calculus, generalized second moment technique of vector-valued functions and matrix-valued functions. For the vibration transfer path system with multi-dimensional paths, the random response is described correctly and expressly in time domain as uncertain factors, which include mass, damping, stiffness and position, are considered. The mathematical expressions of the first order and second order moments for the random vibration response of vibration transfer path are obtained. According to the corresponding numerical example, the results of calculation are consistent with the results of Monte-Carlo simulation, which shows the method is feasible theoretically.
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Belyi, V. V. "Fluctuations out of equilibrium." Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences 376, no. 2135 (November 12, 2018): 20170383. http://dx.doi.org/10.1098/rsta.2017.0383.
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A generalized fluctuation–dissipation theorem involving slowly varying parameters is presented. Application of the Langevin method, the method of moments and of a multiscale technique reveal that not only dissipation but also dispersive contributions determine the spectral functions of fluctuations in arbitrary statistical systems. The non-Joule dispersive contribution is characterized by a novel non-local effect due to the additional phase shift between the force and the response of the system. This phase shift occurs as a result of parametric control to the system. The general formalism is illustrated by concrete examples and applications. This article is part of the theme issue ‘Dissipative structures in matter out of equilibrium: from chemistry, photonics and biology (part 2)’.
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Onanuga, Abayomi Toyin, and Olaronke Toyin Onanuga. "Do Financial and Trade Openness Lead to Financial Sector Development in Nigeria?" Zagreb International Review of Economics and Business 19, no. 2 (November 1, 2016): 57–68. http://dx.doi.org/10.1515/zireb-2016-0008.
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Abstract With so many countries of the world now open to global capital and trade, this study identifies whether financial and trade openness contribute to the development of Nigeria’s financial system by considering both financial depth and access to finance indicators. To achieve this objective, we applied the Simultaneous Openness Hypothesis as our theoretical framework and the Generalized Method of Moments (GMM) as our estimation method. Our findings reveal that opening trade while neglecting capital (vice versa) may be detrimental to the development of Nigeria financial system. In view of this evidence, we recommend that the simultaneous opening of trade and finance is a more guaranteed way of ensuring improved financial development in Nigeria.
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Van Dan Dang. "Bank Liquidity and Lending Behavior: Evidence from the Vietnamese Banking System." International Journal of Business and Society 22, no. 1 (March 24, 2021): 240–56. http://dx.doi.org/10.33736/ijbs.3173.2021.
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The study investigates the impact of liquidity on lending behavior, in the form of loan growth, at Vietnamese commercial banks for the period of 2007–2017. Notably, we also explore heterogeneous effects with the support of the generalized method of moments (GMM) for the dynamic panel data models. The robust result confirmed by alternative techniques indicates that banks with more liquidity tend to expand lending more, implying the precautionary motive of liquidity storage to finance future investments. Further analysis documents that this effect seems to be stronger for state-owned banks and mitigated in the case of banks having higher capital ratios, while we find the inconclusive results for bank size. In addition to extending the existing literature, this study provides insightful implications for bank managers and policymakers in Vietnam and other emerging economies as well.
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Zhu, W. Q., M. L. Deng, and Z. L. Huang. "First-Passage Failure of Quasi-Integrable Hamiltonian Systems." Journal of Applied Mechanics 69, no. 3 (May 1, 2002): 274–82. http://dx.doi.org/10.1115/1.1460912.
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The first-passage failure of quasi-integrable Hamiltonian systems (multidegree-of-freedom integrable Hamiltonian systems subject to light dampings and weakly random excitations) is investigated. The motion equations of such a system are first reduced to a set of averaged Ito^ stochastic differential equations by using the stochastic averaging method for quasi-integrable Hamitonian systems. Then, a backward Kolmogorov equation governing the conditional reliability function and a set of generalized Pontryagin equations governing the conditional moments of first-passage time are established. Finally, the conditional reliability function, and the conditional probability density and moments of first-passage time are obtained by solving these equations with suitable initial and boundary conditions. Two examples are given to illustrate the proposed procedure and the results from digital simulation are obtained to verify the effectiveness of the procedure.
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Yuniasih, Aisyah Fitri, Muhammad Firdaus, and Idqan Fahmi. "Disparitas, Konvergensi, dan Determinan Produktivitas Tenaga Kerja Regional di Indonesia." Jurnal Ekonomi dan Pembangunan Indonesia 14, no. 1 (July 1, 2013): 63–81. http://dx.doi.org/10.21002/jepi.v14i1.447.
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AbstractIndonesia has been still experiencing regional economic disparity problems, including in labour productivity. This study employs dynamic panel approach to analyze convergence and to identify determinants of regional labour productivity during the period of 1987-2011. The System Generalized Method of Moments (Sys-GMM) estimation results show that regional convergence process occurs with speed of convergence of 0.06518 per year. Physical capital stock, human capital stock, total trade, and real wage give positive impacts. Therefore, government should prioritize in overcoming labour productivity disparity in Eastern Indonesia in which are more unequal than in Western Indonesia where interventions should be greater for provinces with lower labour productivity.Keywords: Disparity, Convergence, Labour Productivity, Dynamic Panel AbstrakIndonesia masih mengalami masalah terkait dengan disparitas perekonomian regional, termasuk dalam hal produktivitas tenaga kerja. Studi ini menggunakan pendekatan panel dinamis untuk menganalisis konvergensi dan mengidentikasi determinan produktivitas tenaga kerja regional selama periode 1987-2011. Model estimasi System Generalized Method of Moments (Sys-GMM) menunjukkan bahwa proses konvergensi regional terjadi dengan kecepatan konvergensi 0,06518 per tahun. Stok modal fisik, stok modal manusia, total perdagangan, dan upah riil ditemukan memberikan pengaruh positif. Pemerintah harus lebih memprioritaskan untuk mengatasi masalah disparitas produktivitas tenaga kerja di Kawasan Timur Indonesia (KTI) yang lebih timpang dibandingkan Kawasan Barat Indonesia (KBI) di mana intervensi harus lebih fokus terhadap provinsi-provinsi dengan tingkat produktivitas tenaga kerja yang lebih rendah.Kata kunci: Disparitas, Konvergensi, Produktivitas Tenaga Kerja, Panel Dinamis
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Selma Mokni, Rim Ben, Mohamed Tahar Rajhi, and Houssem Rachdi. "Bank risk-taking in the MENA region." International Journal of Social Economics 43, no. 12 (December 5, 2016): 1367–85. http://dx.doi.org/10.1108/ijse-03-2015-0050.
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Purpose The purpose of this paper is to investigate determinants of risk-taking in Islamic banks and conventional banks located in the MENA region. Design/methodology/approach The empirical study covers a sample of 15 conventional and 15 Islamic banks for the period 2002-2009. The authors estimate models using both generalized least square random effect and generalized method of moments system approaches. Findings The results of the empirical analysis show that the determinants’ risk-taking significance varies between Islamic and conventional banks. Originality/value The main aim is to develop a comprehensive model that integrates macroeconomic determinants, industry-specific determinants, and bank-specific determinants. This paper performs a comparison of the risk-taking between two different banking systems in the MENA region.
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Akram, Vaseem, and Badri Narayan Rath. "DOES EXPORT DIVERSIFICATION LEAD TO INCOME CONVERGENCE? EVIDENCE FROM CROSS-COUNTRY ANALYSIS." Buletin Ekonomi Moneter dan Perbankan 23, no. 3 (December 2, 2020): 319–46. http://dx.doi.org/10.21098/bemp.v23i3.1251.
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In this study, we examine the role of export diversification in the convergence of per capita income (output). By applying the dynamic system Generalized Method of Moments (GMM) estimator to a panel dataset consisting of 95 countries, we find evidence of both absolute and conditional divergence for the full sample and the subsamples based on income and regions. Thus, our findings suggest that, although high export diversification boosts the per capita income (output), it does not significantly reduce per capita income (output) gap between rich and poor countries.
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Nguyen Thi Hong, Vinh, and Thao Le Phan Thi Dieu. "Effects of Bank Capital on Profitability and Credit Risk: The Case of Vietnam's Commercial Banks." Journal of Asian Business and Economic Studies 23, no. 04 (October 1, 2016): 117–37. http://dx.doi.org/10.24311/jabes/2016.23.4.06.
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This paper seeks to examine the effects of bank capital on profitability and credit risk of 30 Vietnam’s commercial banks from 2007 to 2014. Using the system generalized method of moments (GMM), the paper conducts several tests on the moral hazard and regulatory hypotheses on the relationships among bank capital, profitability, and credit risk. With no regard to other determinants, its results indicate that the effects are evident, i.e. bank risk is found to impact differently on bank returns, and it is also negatively associated with credit risk of commercial banks in Vietnam.
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SANTANA, ALEJANDRO. "THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN LATIN AMERICAN COUNTRIES: THE ROLE OF BANKING CRISES AND FINANCIAL LIBERALIZATION." Global Economy Journal 20, no. 04 (December 2020): 1–26. http://dx.doi.org/10.1142/s2194565920500232.
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This paper examines the effects of banking crises and financial liberalization on the relationship between financial development and economic growth in a panel of 16 Latin American countries over the period 1973-2005. Applying the dynamic panel method that incorporates Generalized Method of Moments system, the main findings show that financial liberalization did not result in a positive relationship between financial development and economic growth due to the emergence and recurrence of banking crises. Our findings also confirm those of theoretical approaches that suggest financial liberalization can generate banking crises, while bringing into question approaches that support a positive relationship between financial development and economic growth.
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Gao, Rugao, Keping Zhou, and Yun Lin. "A Flexible Polynomial Expansion Method for Response Analysis with Random Parameters." Complexity 2018 (December 3, 2018): 1–14. http://dx.doi.org/10.1155/2018/7471460.
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The generalized Polynomial Chaos Expansion Method (gPCEM), which is a random uncertainty analysis method by employing the orthogonal polynomial bases from the Askey scheme to represent the random space, has been widely used in engineering applications due to its good performance in both computational efficiency and accuracy. But in gPCEM, a nonlinear transformation of random variables should always be used to adapt the generalized Polynomial Chaos theory for the analysis of random problems with complicated probability distributions, which may introduce nonlinearity in the procedure of random uncertainty propagation as well as leading to approximation errors on the probability distribution function (PDF) of random variables. This paper aims to develop a flexible polynomial expansion method for response analysis of the finite element system with bounded random variables following arbitrary probability distributions. Based on the large family of Jacobi polynomials, an Improved Jacobi Chaos Expansion Method (IJCEM) is proposed. In IJCEM, the response of random system is approximated by the Jacobi expansion with the Jacobi polynomial basis whose weight function is the closest to the probability density distribution (PDF) of the random variable. Subsequently, the moments of the response can be efficiently calculated though the Jacobi expansion. As the IJCEM avoids the necessity that the PDF should be represented in terms of the weight function of polynomial basis by using the variant transformation, neither the nonlinearity nor the errors on random models will be introduced in IJCEM. Numerical examples on two random problems show that compared with gPCEM, the IJCEM can achieve better efficiency and accuracy for random problems with complex probability distributions.
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Joni, Joni, Jahja Hamdani Widjaja, Maria Natalia, and Ivan Junius Salim. "The value of political independent supervisory boards: Evidence from Indonesian dual board setting." ACRN Journal of Finance and Risk Perspectives 10, no. 1 (2021): 128–38. http://dx.doi.org/10.35944/jofrp.2021.10.1.008.
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We investigate whether political independent supervisory boards (political I-SBs) help companies to reduce their corporate risks in the setting of Indonesian two-tier board system. This study is different from other studies in several ways. First, while most prior studies examine the effectiveness of independent boards in one-tier board setting, we use dual board system. This system promotes the strategic role of political I-SBs. Second, we use two measures of corporate risks: operating and market risks. Based on 1,176 firm-year observations for operating risk analysis and 1,254 firm-year observations for market risk analysis, we find that firms with political I-SBs have lower operating and market risks than firms with non- politically connected independent SBs. We also control for endogeneity problem using GMM (Generalized Method of Moments) method, and the results are still consistent.
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Nadirov, Orkhan, Jana Vychytilová, and Bruce Dehning. "Carbon Taxes and the Composition of New Passenger Car Sales in Europe." Energies 13, no. 18 (September 6, 2020): 4631. http://dx.doi.org/10.3390/en13184631.
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This paper examines the effectiveness of implementing carbon taxes to reduce carbon dioxide emissions from transport. Using the system Generalized Method of Moments estimator, we utilize cross-country analysis for the first time to study the impact of carbon taxes on the composition of petrol versus diesel passenger cars sold in 17 countries over the period 2013–2017. The results suggest that increasing carbon taxes affects consumer behavior, causing a significant shift from petrol to diesel fuel vehicles, controlling for factors such as the price of passenger cars, fuel price, interest rates, income level, population density, inflation, and vehicle stock.
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Alekhin, B. I. "Regional Tax Autonomy and Budget Balances." Financial Journal 12, no. 5 (2020): 114–27. http://dx.doi.org/10.31107/2075-1990-2020-5-114-127.
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The purpose of this study is to test the proposition that better regional fiscal balances are associated with stronger regional tax autonomy as measured by the ratio of property taxes to expenditures. The study uses panel data for 82 subjects of the Russian Federation over 14 years (2005–2018). A two-step dynamic model of budget balance is estimated by the “system” generalized method of moments. A positive and statistically significant association between fiscal balances and tax autonomy is established. This study emphasizes the importance of regional tax autonomy for the development of market-preserving fiscal federalism in Russia.
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Arodoye, Nosakhare, Dickson Oriakhi, and Milton Iyoha. "TAX REVENUE PERFORMANCE IN SUB-SAHARAN AFRICA COUNTRIES: ARE THERE EMPIRICAL EVIDENCE FOR MACROECONOMIC VARIABLES?" Oradea Journal of Business and Economics 5, Special (June 2020): 69–81. http://dx.doi.org/10.47535/1991ojbe098.
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This study, examines the dynamic effects of macroeconomic factors on the overall tax revenue performance of thirty-three (33) Sub-Saharan African countries for eighteen years that range from 2000-2017 employing the system generalized method of moments methodology. This study provides empirical evidence for the dynamic and significant effects of macroeconomic variables on tax revenue performance in SSA countries. Arising from our empirical findings, the study recommends that, on the average, governments of SSA countries should establish the necessary macroeconomic preconditions for the effective and efficient administration of the countries’ tax systems to further boost her taxable capacity and fiscal surpluses.
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DE, SUPRIYO. "INTANGIBLE DETERMINANTS OF MARKET VALUE IN THE NEW ECONOMY: A DYNAMIC PANEL DATA ANALYSIS OF THE INDIAN SOFTWARE INDUSTRY." Singapore Economic Review 54, no. 03 (August 2009): 379–98. http://dx.doi.org/10.1142/s0217590809003392.
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Intangible assets like human capital and organization capital have driven the success of India's software industry. This article analyzes the impact of intangible assets on the market value of Indian software firms using a dynamic panel data model. Measures of tangible and intangible assets are constructed using firm-level panel data. The estimation technique uses system generalized method of moments (GMM) and minimum distance estimation (MDE). This methodology accounts for unobserved firm heterogeneity, endogenous explanatory variables and persistent variables. The results conclusively show that intangible assets have a significant impact on market values of Indian software firms.
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Abbas, Zia, Syed Faizan Iftikhar, and Shaista Alam. "Does bank capital affect the monetary policy transmission mechanism? A case study of Emerging Market Economies (EMEs)." International Journal of Financial Engineering 06, no. 02 (June 2019): 1950019. http://dx.doi.org/10.1142/s2424786319500191.
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The objective of this study is to investigate the impact of bank capital on monetary policy transmission mechanism during the period from 2010 to 2016 for 20 Emerging Market Economics (EMEs) by using the two-step system generalized method of moments (GMM). The coefficient of excess capital in low-asset countries is found to be negative which reveals the importance of excess capital for the effectiveness of monetary transmission. However, the study could not find the significance of excess capital for high-asset countries as they may afford the risky way to generate their income by increasing the loan supply.
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ONGO NKOA, Bruno Emmanuel, Richard ZOGO EKASSI, and Jaques Simon Song. "Urbanization, Industrialization and Inequalities in Africa: does threshold matter?" International Journal of Scientific Research and Management 9, no. 08 (August 8, 2021): 2337–52. http://dx.doi.org/10.18535/ijsrm/v9i08.em01.
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This paper examines the impact of urbanization and industrialization on observed inequalities in a sample of 48 African countries. We specify and estimate a panel data model using the Generalized Method of Moments-System (GMM-S) over the period 1980-2016 along the different dimensions of inequality. Our results show that urbanization increases income, environmental and housing inequalities in Africa, while industrialization reduces them. Our results remain robust with the use of Panel Smooth Transition Regression Model (PSTR) and Panel Transition Regression Model (PTR). We suggest taking into account the disparities identified in the inclusive urbanization and industrialization policies of African cities.