TESTING THE PURCHASING POWER PARITY BETWEEN THE HASHEMITE KINGDOM OF JORDAN AND ITS MAJOR TRADING PARTNERS
|
|
- Samson Oswin Heath
- 5 years ago
- Views:
Transcription
1 From the SelectedWorks of Anwar Salameh Gasaymeh October 27, 2009 TESTING THE PURCHASING POWER PARITY BETWEEN THE HASHEMITE KINGDOM OF JORDAN AND ITS MAJOR TRADING PARTNERS Anwar Salameh Gasaymeh, university putra malaysia Available at:
2 TESTING THE PURCHASING POWER PARITY BETWEEN THE HASHEMITE KINGDOM OF JORDAN AND ITS MAJOR TRADING PARTNERS Anwar Salameh Gasaymeh*, Lee Chin and M. Azali Department of Economics, University Putra Malaysia, UPM, Serdang, Selangor Darul Ehsan, Malaysia Abstract This study examines the validity of Purchasing Power Parity (PPP) and investigates the market integration between The Hashemite Kingdom of Jordan and its major trading partners namely, Japan, United Kingdom, Tunisia, Morocco, Switzerland, Israel, Pakistan, Turkey, Sudan and Iran. Unit root tests, Johansen cointegration test and vector error correction model (VECM) were employed to test the data covering the period of 1990Q1-2006Q4. The unit root tests demonstrated that all variables are integrated of order one. The results of cointegration tests showed that there exists a cointegrating relationship between exchange rate, domestic and foreign price levels for seven countries namely, Japan, UK, Switzerland, Israel, Pakistan, Tunisia and Morocco and other three countries does not have cointegration relationship. For the VECM, it is found that the error correction terms (ECTs) for Jordan-Japan, Jordan-UK, Jordan- Switzerland, Jordan-Israel, Jordan-Pakistan Jordan-Tunisia, and Jordan-Morocco carried the expected sign. This suggests that whenever there is a deviation from the equilibrium cointegrating relationship, exchange rate interacts in a dynamic fashion in adjusting to restore long-run equilibrium. Last but not least, all the models passed all the diagnostic checking. As a conclusion, these results provide evidence on PPP model hold in the long run and the Jordanian economy is integrated with these seven countries. * corresponding author: gasaymeh@yahoo.com
3 Introduction The Hashemite Kingdom of Jordan (in Arabic, al-mamlakeh al- Urduniyyeh al-hashmiyyeh, or al-urdun) is playing a very important role politically and economically through the region and located in the heart of the Middle East. Jordan has access to the Red Sea via the port city of Aqaba, located at the northern end of the Gulf of Aqaba. The Kingdom of Jordan occupies a strategic location in the Middle East. Jordan participates in the World Trade Organization, has free trade with the European Union and with many Arab countries. Jordan has Qualifying Industrial Zones (QIZ) that allows free trade into the United States. Jordan managed to reach a number of Arab and International agreements with friendly countries namely, Japan, United Kingdom, Tunisia, Morocco, Switzerland, Israel, Pakistan, Turkey, Sudan and Iran. The agreement aims to deepening the trade integration and promoting mutual investments between the member countries, to increase investment opportunities between the two countries and to facilitate trade movement between the countries and double taxation avoidance. A special topic to be taken into consideration by investors and monetary authorities is the integration of the international market. This topic is not discussed very widely ranging between the Middle East and North Africa (MENA) Countries, and not much research has been done on the topic of market integration of MENA. But this topic has been investigated for the market of United States of America (U.S.A.). The main purpose of this study is to examine the validity of Purchasing Power Parity (PPP) and to investigate the market integration between The Hashemite Kingdom of Jordan and its major trading partners namely, Japan, United Kingdom, Tunisia, Morocco, Switzerland, Israel, Pakistan, Turkey, Sudan and Iran. Although Purchasing Power Parity is regarded as one of the central doctrines in international economy, no studies are done on the Jordan with its trading partners. The rest of the paper is organized as follows. Section 2 discusses the PPP theory and literature review. The third section is a review on the methodology and data employed in this study. Section four reports the empirical results of this study and the last section provides the conclusion and overview of this study. 2.1 Theory of PPP PPP stated that, the exchange rate between two currencies are in equilibrium when their purchasing power is the same in each of the two countries that is the law of one price, that identical goods should sell for identical prices in
4 different countries markets. That means the exchange rate between countries should be equal to the ratio of the countries price levels of a fixed basket of goods and services. When the country s domestic price level is getting increased more rapidly than its major trading partner that tell us a country experiencing inflation, that country s exchange rate must depreciate in order to return to purchasing power parity. There are two types of purchasing power parity theory, absolute and relative purchasing power parity. Absolute purchasing power parity theory states that the exchange rate between the currencies of two countries should equal the ratio of the price levels of the two countries and the basket of goods should be the same domestically and abroad if the goods prices are converted into a common currency, in other words, absolute purchasing power parity theory postulates that the purchasing power of money should be equal between countries. S= P/P* (1) Where S is the nominal exchange rate measured in units of domestic currency per unit of foreign currency, P is the domestic price level and P* is the foreign price level. The relative PPP hypothesis, on the other hand, states that the exchange rate should be proportionate to the ratio of the price level and does not compare domestic and foreign levels of purchasing power, but rather focuses on changes in this purchasing power. The relative PPP is said to hold when the rate of depreciation of one currency relative to another matches the differences in aggregate price inflation between the two countries concerned. If the nominal exchange rate is defined simply as the price of one currency in terms of another, then the real exchange rate is the nominal exchange rate adjusted for relative national price level differences. When PPP holds, the real exchange rate is a constant, so that movement in the real exchange rate represents deviations from PPP. Hence, a discussion of the real exchange rate is tantamount to a discussion on PPP (Sarno and Taylor). S=k (P/P*) (2) Where k is a constant parameter, since information on national price levels normally is available in the form of price indices rather than absolute price levels, absolute PPP may be difficult to test empirically. 2.2 Literature Review
5 The PPP theory has been tested for several countries using various statistical methods, sample periods and frequency of data. Despite the extensive research on PPP, to our knowledge, there are only a few analyses for the Middle East countries. In particular, Abumustafa (2006) for Jordan, and Drine and Rault (2008) for different panels of countries including Jordan. Abumustafa (2006) examined PPP between Jordan and Japan, and between Jordan and Germany using unit root method and found no evidence of PPP. Drine and Rault (2008) apply panel cointegration techniques to test the PPP for different panels of countries, such as the OECD, the countries in Africa, Asia, Middle East and North Africa (MENA), Latin America and Central and Eastern European. They reported favorable evidence of PPP in the OECD panel while weak PPP in MENA panel. For the remaining panels, their study shows that PPP does not seem to characterize the long-run behavior of the real exchange rates. Previous empirical studies on Asian countries have found mixed results. Phylaktis and Kassimatis (1994), Salehizadeh and Taylor (1999), Wang (2000) and Azali et al. (2001) found evidence to support long-run PPP for Asian economies. However, Lee (1999) found mixed evidence of PPP from thirteen Asian Pacific economies. On the other hand, the results of Cooper (1994), Doganlar (1999), Baharumshah and Ariff (1997), Holmes (2001), Alba and Papell (2007) and Jiranyakul and Batavia (2009) failed to show evidence in supporting PPP for Asian Pacific countries. There are numerous studies on PPP conducted on developed countries. Some recent studies that supported exchange rate stationarity for developed countries are Oh (1996) for the G-6 and OECD countries, Papell (1997) for the industrial countries, Lothian (1997, 1998) for the OECD countries, Husted and MacDonald (1998) for the OECD, Coakley and Fuertes (1997) for the G-10 countries and, Koedijk et al (1998) for 17 developed countries. On the other hand, some studies have also shown that the real exchange rate of non-stationary. These are done by Canzoneri et al. (1999) for the OECD countries, Alba and Park (2003) for 65 developing countries, and Wu and Chen (1999) for eight Pacific countries and 15 developed countries. Recently, there are some studies re-investigate this PPP issues by using non-linearity approach. Obstfeld and Taylor (1997), and O'Connell and Wei (1997) reported additional evidences of non-linear reversion of prices. However, O'Connell (1998), using a balance threshold autoregression (TAR) model for the post-bretton Woods real exchange rates in a panel framework find little support for PPP deviations. Wu and Chen (2008) investigated purchasing power parity
6 convergence using a threshold vector error-correction model. They found that PPP convergence and the half-life of real exchange rates is less than two and a half years. 3. Methodology and Data In this study we first examine the time series properties. The unit root test of ADF and KPSS tests were used to examine the stationarity of the data. The unit root tests were first implement on level, and then on first difference of the data. If the series are of first order, then we may proceed to test the existence of the longrun relationship among these variables using Johansen cointegration test. If the maximum eigen statistic and trace statistic greater than 5% critical value, then we rejected the null hypothesis. Lastly, using vector error correction model (VECM) to investigate the dynamic short run relationship between the exchange rate and the price level as well as its adjustment towards long run equilibrium. Various diagnostic tests such as normality test (Jarque-Bera), an autocorrelation test (Langranger multiplier), a heteroskcedasticity test (ARCH Test) and a stability test (Ramsey RESET) had been performed to ensure the robustness of the model. We employ quarterly data from 1990Q1-2006Q4 including three major trading partners with Jordan, the countries are, Japan, United Kingdom, Switzerland, Pakistan, Israel, Tunisia, Morocco, Sudan, Turkey and Iran. The data are obtained from IMF's International Financial Statistics and data are the nominal exchange rate (ER) and consumer price (CPI) for all the countries. The Hashemite Kingdom of Jordan is treated as base country. 4. Results The ADF and KPSS unit root tests were conducted and the results can be seen in Table 1 and Table 2. The result of ADF test clearly shown that for all the countries the null hypothesis of unit root cannot be rejected at 1% significant level when all the variables are in the level but can be rejected when they are tested at first difference; this means all the variables are stationary at first difference. The results of KPSS test shows that the null hypothesis of stationary or no unit root can be rejected at 1% significant level when all variables are tested in their level. However, the null hypothesis of stationary cannot be rejected when all variables are tested in their first differences. Thus, we concluded that all the series are I (1) process. Table 1: The ADF unit root test At Level First Difference Variable Constant Trend Constant Trend
7 ER J-Japan (3) (3) (2)*** (2)*** CPI Jordan (0) (0) (0)*** (0)*** CPI Japan (4) (2) (3)*** (0)*** ER J-UK (0) (0) (0)*** (0)*** CPI UK (5) (5) (4)*** (2)*** ER J-Pakistan (0) (0) (0)*** (0)*** CPI Pakistan (1) (1) (0)*** (0)*** ER J-Switzerland (0) (0) (0)*** (0)*** CPI Switzerland (4) (0) (0)*** (0)*** ER J-Morocco (0) (0) (0)*** -7.33(0)*** CPI Morocco -2.69(5) (0) (0)*** (0)*** ER J-Israel (0) (0) (0)*** (0)*** CPI Israel (10) (0) (0)*** (0)*** ER J-Tunisia (0) (0) (0)*** (0)*** CPI Tunisia (7) (5) (0)*** (4)*** ER J-Iran (1) (1) (0)*** (1)*** CPI Iran (1) (1) (0)*** (0)*** ER J-Sudan (3) (4) (3)*** (3)*** CPI Sudan (3) 0.484(0) (1)*** (0)*** ER J-Turkey (0) 0.372(0) (1)*** (1)*** CPI Turkey (4) 2.264(1) (0)*** (0)*** Notes: Figures are the t-statistics for testing the null hypothesis that the series is nonstationary. *** and ** denotes significance at 1% and 5% levels. Figures in parenthesis are lag length. Table 2: The KPSS unit root test At Level First Difference Variable Constant Trend Constant Trend ER J-Japan (0)*** (0)*** 0.126(0) 0.064(0) CPI Jordan (6)*** (3)*** (6) (0) CPI Japan (1)*** (6)*** 0.436(4) 0.143(7) ER J-UK 1.176(0)*** (0)*** (3) (4) CPI UK (6)*** (3)*** (4) (9) ER J-Pakistan 1.023(6)*** (6)*** 0.405(9) (2) CPI Pakistan 1.048(6)*** (6)*** (14) (9) ER J- Switzerland 0.796(0)*** 0.736(0)*** (2) (2) CPI Switzerland 0.796(0)*** 0.736(0)*** (2) (2) ER J- Morocco (1)*** (1)*** (2) (1)
8 CPI Morocco (6)*** (6)*** (11) (0) ER J- Israel 1.003(6)*** 0.247(6)*** 0.461(8) 0.057(7) CPI Israel 0.985(6)*** 0.278(6)*** 0.462(9) 0.096(1) ER J- Tunisia 0.944(6)*** 0.695(0)*** 0.086(2) (2) CPI Tunisia 1.065(6)*** 0.258(6)*** 0.455(13) (2) ER J-Iran 1.397(1)*** 0.410(4)*** 0.102(2) 0.049(2) CPI Iran 1.746(1)*** 0.413(4)*** 0.447(8) 0.114(4) ER J-Sudan 1.348(1)*** 0.406(1)*** 0.440(4) 0.043(9) CPI Sudan 1.338(4)*** 0.347(5)*** 0.447(4) 0.095(6) ER J-Turkey 1.638(1)*** 0.390(1)*** 0.421(3) 0.140(3) CPI Turkey 1.764(1)*** 0.415(1)*** 0.433(4) 0.144(5) Notes: Figures are the LM-statistics for testing the null hypothesis that the series is stationary. *** and ** denote significance at 1% and 5% levels. Figures in parenthesis are lag length. All the series are I (1) process; the cointegration test can be implement to examine the long-run relationship among these variables. Table 3 displays the results for the Johansen cointegration test. The results showed that there exists a cointegrating relationship between exchange rate, domestic and foreign price levels for Jordan and seven countries namely, Japan, UK, Switzerland, Pakistan, Israel, Tunisia and Morocco. And there is no cointegrating relationship among Jordan-Iran, Jordan-Sudan and Jordan Turkey. The existence of a long run relationship between the exchange rates of Jordan and its trading partner, CPI Jordan and CPI trading partner support the theory of PPP, indicating that it will hold over the estimated periods. Table 3: The Johansen-Juselius cointegration tests Null Hypotheses Eigenvalue Trace Critical Value (1%) Max-Eigen Critical Value (5%) Jordan-Japan (r = 0) *** *** (r 1) (r 2) Jordan-United Kingdom (r = 0) *** *** (r 1) (r 2) Jordan-Pakistan (r = 0) *** *** (r 1) (r 2) Jordan- Switzerland
9 (r = 0) *** *** (r 1) (r 2) Jordan-Morocco (r = 0) *** *** (r 1) (r 2) Jordan-Israel (r = 0) *** *** (r 1) (r 2) Jordan-Tunisia (r = 0) *** *** (r 1) (r 2) Jordan-Iran (r = 0) (r 1) (r 2) Jordan-Sudan (r = 0) (r 1) (r 2) Jordan-Turkey (r = 0) (r 1) (r 2) Notes: r indicates the number of cointegrating vectors. *** and ** denote significance at 1% and 5% levels. For the country pairs which cointegration relationship are detected, we precede to the VECM, which is a test for short-run relationships between the exchange rate, domestic price level and foreign price level. Table: 4 reported the VECM obtained for Jordan-Japan, Jordan-United Kingdom, Jordan -Pakistan, Jordan- Switzerland, Jordan-Israel, Jordan-Tunisia and Jordan-Morocco respectively. The diagnostic tests such as normality test (Jarque-Bera), an autocorrelation test (Langranger multiplier), a heteroskcedasticity test (ARCH Test) and stability test (Ramsey RESET) are also reported. The estimated coefficients of cointegrating vector shown in Table 4 indicate that there are correctly signed for Jordan-Japan, Jordan-Tunisia. Hence, it seems represent a PPP relationship for Jordan-Japan, Jordan-Tunisia. It is found that the errorcorrection terms (ECTs) for Jordan-Japan, Jordan-United Kingdom, Jordan Switzerland, Jordan-Pakistan, Jordan-Israel, Jordan-Tunisia, and Jordan-Morocco carried the expected sign. This suggests that whenever there is a deviation from the equilibrium cointegrating relationship, exchange rate interacts in a dynamic fashion in adjusting to restore long-run equilibrium. Lastly, all the models passed
10 all the diagnostic checking. The diagnostic tests results showing that the residuals were normally distributed, there was no serial correlation, no heteroskedasticity or misspecification problems, and the models are stable. Variables Expected Sign Jordan- Japan Table 4: Vector Error-Correction Results Country-pairs Jordan- Jordan- Jordan- Jordan- UK Switzerland Israel Pakistan Standardize β Cointegrating Vector Jordan- Tunisia Jordan- Morocco ER t CPI t ** 1.56*** 6.27*** 0.38*** -3.45*** -4.88*** 2.64*** CPI* t *** -1.02*** *** 0.20** 2.17*** 5.02*** -5.93*** Standardize α Coefficients ECT *** *** ** *** 0.22 *** ** -0.02*** ER t ER t CPI t CPI t CPI* t CPI * t C D D D D Diagnostic Tests R Adjusted R S.E. of Regression F-Statistics JB BG (LM Test) ARCH Test Ramsey RESET Note: = First difference operator; ***, ** and * denote significant at 1%, 5% and 10% level respectively. D1, D2, D3 and D4 are dummies introduced to correct the normality. D1 = 1 in 1999Q1, 2000Q3, 2002Q1, 2003Q2, 2006Q3 and 2006Q3; D1= -1 in 1991Q2, 1993Q1, 1993Q4, 1993Q3, 1999Q2, 2002Q4, 2002Q2; and zero in all other quarters. D2 = 1 in 1990Q3, 1992Q2, 1994Q1, 1994Q4, 1996Q3, 2001Q2, 2006Q3; D2 = -1 in 1992Q3, 1994Q3, 1996Q4, 1998Q3, 1999Q1, 1999Q3, 2000Q1, 2004Q1, 2005Q1; and zero in all other quarters). D3 = 1 in 1999Q1, 2000Q3, 2002Q1, 2003Q2, 2006Q3 and 2006Q3; D3= -1 in 1991Q2, 1993Q1, 1993Q4, 1993Q3, 1999Q2, 2002Q4, 2002Q2; and zero in all other quarters. D4 = 1 in 1990Q3, 1992Q2, 1994Q1, 1994Q4, 1996Q3, 2001Q2, 2006Q3; D4 = -1 in 1992Q3, 1994Q3, 1996Q4, 1998Q3, 1999Q1, 1999Q3, 2000Q1, 2004Q1, 2005Q1; and zero in all other quarters. 5. Conclusion
11 The main purpose of this study is to examine the validity of Purchasing Power Parity (PPP) and to investigate the market integration between The Hashemite Kingdom of Jordan and its major trading partners namely, Japan, United Kingdom, Switzerland, Pakistan, Israel, Tunisia, Morocco, Sudan, Turkey and Iran based on data covering the period of 1990Q1-2006Q4. The results of cointegration tests showed that there exists a cointegrating relationship between exchange rate, domestic and foreign price levels for Jordan and seven countries namely, Japan, UK, Switzerland, Pakistan, Israel, Tunisia and Morocco Hence, lending support to the validity of PPP. And there is no cointegrating relationship among Jordan-Iran, Jordan-Sudan and Jordan Turkey due to recent agreement made with Jordan and some trade barriers such as double taxation and political situation was not stable, The Iranian, Sudanese economy are suffering under the continuing threat of international economic sanctions. The findings of PPP hold between Jordan and its major trading partners implied that the Jordanian economy is integrated with these countries. Hence, these had important policy implication on cross-border agreement for international trade and investment with these countries. It is promising the efforts to promote trade with these economies and further removal of barriers with these countries. Given the goods and services markets appeared quite integrated, future liberalization will be likely pronounced in financial markets. If we envision this process of integration continuing, in particular in the Middle East region, and to the extent that this process requires even more political engagement, we believe the prospects for cooperation along a variety of dimensions are good. References Abumustafa N. I New Evidence of the Validity of Purchasing Power Parity from Jordan. Applied Economic Letters, 13, Alba J. D. and Papell D.H Purchasing Power Parity and Country Characterstics: Evidence from Panel Data Tests. Journal of Development Economics, 83, Alba, J.D. and Park, D Purchasing Power Parity in Developing Countries: Multi-period Evidence under the Current Float. World Development, 31, Azali, M.; Habibullah, M. S. and Baharumshah, A. Z Does PPP Hold between Asian and Japanese Economies? Evidence using Panel Unit Root and Panel Cointegration. Japan and the World Economy, 13, Baharaumshah, A.Z., and Ariff, M., Purchasing Power Parity in Southeast Asian Countries Economies: A Cointegration Approach. Asian Economic Journal, 11,
12 Canzoneri, M.B. Cumby, R.E. Diba, B Relative Labor Productivity and the Real Exchange Rate in the Long Run: Evidence for a Panel of OECD Countries. Journal of International Economics, 47, Coakley, J. and. Fuertes, A. M New Panel Unit Root Tests of PPP. Economics Letters, 57, Cooper J. C. B Purchasing Power Parity: a Cointegration Analysis of the Australian, New Zealand and Singaporean Currencies. Applied Economics Letters, 1, Doganlar, M Testing Long-Run Validity of Purchasing Power Parity for Asian Countries. Applied Economics Letters, 6, Drine, I. and Rault, C Purchasing Power Parity for Developing and Developed Countries: What can we Learn from Non-Stationary Panel Data Methods? Journal of Economic Surveys, 22, Holmes, M., New Evidence on Real Exchange Rate Stationarity and Purchasing Power Parity in Less Developed Countries. Journal of Macroeconomics, 23, Husted, S. and MacDonald, R Monetary-Based Models of the Exchange Rate: a Panel Perspective, Journal of International Financial Markets, Institutions and Money, 8, Jiranyakul K. and Batavia B Does Purchasing Power Parity Hold in Thailand? International Journal of Applied Economics and Econometrics (Forthcoming) Koedijk, K.G., Schotman, P.C. and Dijk, M.A.V There-Emergence of PPP in the1990s, Journal of International Money and Finance, 17, Lee, Y Purchasing Power Parity and Dynamic Error Correction Evidence from Asian Pacific Economies. International Review of Economies and Finance, 8, Lothian, J Multi-Country Evidence on the Behavior of Purchasing Power Parity under the Current Float. Journal of International Money and Finance, 16, Lothian, J.R Some New Stylized Facts of Floating Exchange Rates. Journal of International Money and Finance, 17, Obstfeld, M. Taylor, A. (1997). Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher s Commodity Points Revisited. Journal of the Japanese & International Economies 11, O Connell P The Overvaluation of Purchasing Power Parity. Journal of International Economics, 44, O Connell, P.G. Wei, S. (1997). The Bigger they are, the Harder they Fall: How Price Differences Across U.S. Cities are Arbitraged. Working Paper National Bureau of Economic Research, Cambridge MA.
13 Oh, K.Y Purchasing Power Parity and the Unit Root Tests Using Panel Data. Journal of International Money and Finance, 15, Papell, D Searching for Stationarity: Purchasing Power Parity under the Current Float. Journal of International Economics, 43, Papell, D.H The Great Appreciation, the Great Depreciation, and the Purchasing Power Parity Hypothesis. Journal of International Economics, 57, Phylaktis, K. and Kassimatis. Y Does the Real Exchange Rate Follow a Random Walk? The Pacific Basin Perspective. Journal of International Money and Finance, 13, Salehizadeh, M. and Taylor, R A Test of Purchasing Power Parity for Emerging Economies. Journal of International Financial Markets, Institutions and Money, 9, Sarno L. and Taylor M. P Purchasing Power Parity and Real Exchange Rate. International Monetary Fund, 49, Wang, P Testing PPP for Asian Economies during the Recent Floating Period. Applied economics letters, 7, Wu, J. L. and Chen, S. L Are Real Exchange Rates Stationary Based on Panel Unit-Root Tests? Evidence from Pacific Basin Countries, International Journal of Finance and Economics, 4, Wu J. L and Chen P.F A Revisit on Dissecting the PPP Puzzle: Evidence from a Nonlinear Approach. Economic Modeling, 25,
Volume 30, Issue 2. An empirical investigation of purchasing power parity for a transition economy - Cambodia
Volume 30, Issue 2 An empirical investigation of purchasing power parity for a transition economy - Cambodia Venus Khim-Sen Liew Faculty of Economics and Business, Universiti Malaysia Sarawak Tuck Cheong
More informationThe Linkage between Long-Run Purchasing Power Parity and CEPT scheme in ASEAN4 before and after Global Financial Crisis
Asian Journal of Agricultural Extension, Economics & Sociology 3(5): 445-460, 2014; Article no. AJAEES.2014.5.006 SCIENCEDOMAIN international www.sciencedomain.org The Linkage between Long-Run Purchasing
More informationJournal of Economic Cooperation, 29, 2 (2008), 69-84
Journal of Economic Cooperation, 29, 2 (2008), 69-84 THE LONG-RUN RELATIONSHIP BETWEEN OIL EXPORTS AND AGGREGATE IMPORTS IN THE GCC: COINTEGRATION ANALYSIS Mohammad Rammadhan & Adel Naseeb 1 This paper
More informationThe Role of Workers Remittances in Development of Jordanian Banking Sector
International Journal of Business and Economics Research 2016; 5(6): 227-234 http://www.sciencepublishinggroup.com/j/ijber doi: 10.11648/j.ijber.20160506.16 ISSN: 2328-7543 (Print); ISSN: 2328-756X (Online)
More informationInvestigating the Relationship between Residential Construction and Economic Growth in a Small Developing Country: The Case of Barbados
Relationship between Residential Construction and Economic Growth 109 INTERNATIONAL REAL ESTATE REVIEW 010 Vol. 13 No. 1: pp. 109 116 Investigating the Relationship between Residential Construction and
More informationInternational Journal of Economics and Society June 2015, Issue 2
REMITTANCES INFLOWS AND MONETARY POLICY IN NIGERIA Augustine C. Osigwe, Ph.D (Economics), Department of Economics and Development Studies Federal University, Ndufu-Alike, Ikwo, Nigeria Abstract. This study
More informationDo Remittances Transmit the Effect of US Monetary Policy to the Jordanian Economy?
Do Remittances Transmit the Effect of US Monetary Policy to the Jordanian Economy? Hatem Al-Hindawi The Hashemite University, Economics Department Jordan Abstract The purpose of this paper is to examine
More informationFDI & Growth: What Causes What?
FDI & Growth: What Causes What? By Abdur Chowdhury* & George Mavrotas** Abstract The paper examines the causal relationship between FDI and economic growth by using an innovative econometric methodology
More informationDeterminants of International Capital Flows: The Case of Malaysia
Determinants of International Capital Flows: The Case of Malaysia Muhammad Asraf Abdullah Shazali Abu Mansor Chin-Hong Puah This paper examines the determinants of international capital inflows into Malaysia
More informationAsian Journal of Empirical Research
Asian Journal of Empirical Research journal homepage: http://aessweb.com/journal-detail.php?id=5004 FOREIGN CAPITAL INFLOWS AND ECONOMIC GROWTH IN NIGERIA: AN EMPIRICAL APPROACH EmekaNkoro 1 Aham KelvinUko
More informationTOURISM AND POVERTY REDUCTION: EVIDENCE FROM
International Journal of Asian Social Science ISSN(e): 2224-4441 ISSN(p): 2226-5139 DOI: 10.18488/journal.1.2018.812.1130.1138 Vol. 8, No. 12, 1130-1138 URL: www.aessweb.com TOURISM AND POVERTY REDUCTION:
More informationCOINTEGRATION ANALYSIS OF TOURISM DEMAND FOR TURKEY
Applied Econometrics and International Development Vol. 10-1 (2010 COINTEGRATION ANALYSIS OF TOURISM DEMAND FOR TURKEY KETENCI, Natalya 1 Abstract This paper estimates the tourism demand model for Turkey
More informationEFFECTS OF REMITTANCE AND FDI ON THE ECONOMIC GROWTH OF BANGLADESH
EFFECTS OF REMITTANCE AND FDI ON THE ECONOMIC GROWTH OF BANGLADESH Riduanul Mustafa 1, S.M. Rakibul Anwar 2 1 Lecturer - Economics, Department of Business Administration, Bangladesh Army International
More informationThe macroeconomic determinants of remittances in Bangladesh
MPRA Munich Personal RePEc Archive The macroeconomic determinants of remittances in Bangladesh Mohammad Monirul Hasan Institute of Microfinance (InM), Dhaka, Bangladesh February 2008 Online at http://mpra.ub.uni-muenchen.de/27744/
More informationImpact of FDI on Economic Growth: Evidence from Pakistan. Hafiz Muhammad Abubakar Siddique Federal Urdu University, Islamabad, Pakistan.
Impact of FDI on Economic Growth: Evidence from Pakistan Hafiz Muhammad Abubakar Siddique Federal Urdu University, Islamabad, Pakistan. Romana Ansar Punjab Group of Colleges, Bhara Kahu Campus, Islamabad,
More informationEconomy ISSN: Vol. 1, No. 2, 37-53, 2014
Economy ISSN: 2313-8181 Vol. 1, No. 2, 37-53, 2014 www.asianonlinejournals.com/index.php/economy The BRICS and Nigeria s Economic Performance: A Trade Intensity Analysis Maxwell Ekor 1 --- Oluwatosin Adeniyi
More informationFURTHER EVIDENCE ON DEFENCE SPENDING AND ECONOMIC GROWTH IN NATO COUNTRIES
Associate Professor Alper OZUN E-mail: alper.ozun@hotmail.com Marmara University, Istanbul, Turkey Erman ERBAYKAL, PhD Researcher E-mail: eerbaykal@yahoo.com Istanbul University, Turkey FURTHER EVIDENCE
More informationHOME BIAS AND NETWORK EFFECT OF INDONESIAN MIGRANT WORKERS ON MALAYSIA S EXTERNAL TRADE
Journal of Applied Economics and Business HOME BIAS AND NETWORK EFFECT OF INDONESIAN MIGRANT WORKERS ON MALAYSIA S EXTERNAL TRADE Fariastuti Djafar 1*, Mohd Khairul Hisyam Hassan 1 1 Department of Economics,
More informationAltruism and Workers Remittances: Evidence from Selected Countries in the Middle East and Central Asia
WP/06/130 Altruism and Workers Remittances: Evidence from Selected Countries in the Middle East and Central Asia Jacques Bouhga-Hagbe 2006 International Monetary Fund WP/06/130 IMF Working Paper Middle
More informationImmigration and Economic Growth: Further. Evidence for Greece
Immigration and Economic Growth: Further Evidence for Greece Nikolaos Dritsakis * Abstract The present paper examines the relationship between immigration and economic growth for Greece. In the empirical
More informationRemittances and Economic Growth Nexus: Evidence from Jordan
Remittances and Economic Growth Nexus: Evidence from Jordan Samer Abdelhadi & Ala Bashayreh Department of Economic Hashemite University Zarqa, Jordan Abstract Remittances considered as one of the most
More informationVolume 30, Issue 1. Corruption and financial sector performance: A cross-country analysis
Volume 30, Issue 1 Corruption and financial sector performance: A cross-country analysis Naved Ahmad Institute of Business Administration (IBA), Karachi Shahid Ali Institute of Business Administration
More informationForeign Remittances have a great role in the development
EPRA International Journal of Economic and Business Review Vol - 3, Issue- 11, November 2015 Inno Space (SJIF) Impact Factor : 4.618(Morocco) ISI Impact Factor : 1.259 (Dubai, UAE) MIGRATION, REMITTANCE
More informationAn Analysis of Exploring the Relationship between Foreign Inflows and Sectoral Output of Pakistan
An Analysis of Exploring the Relationship between Foreign Inflows and Sectoral Output of Pakistan Dr. Muhammad Zahir Faridi Associate Professor of Economics, B. Z. University, Multan, Pakistan. Ms. Ismat
More informationDEPENDENCY OF TURKISH EXCHANGE RATE UNDER ACCESSION CONDITIONS TO EUROPEAN UNION
DEPENDENCY OF TURKISH EXCHANGE RATE UNDER ACCESSION CONDITIONS TO EUROPEAN UNION Ugur Ergun Faculty of Economics, International Burch University, Bosnia and Herzegovina E-mail: ugerg9@gmail.com Ali Goksu
More informationAnalysis on Spatial Integration of Thailand and Vietnam Rice Market in Indonesia
ISSN: 2276-7827 Impact Factor 2012 (UJRI): 0.6670 ICV 2012: 6.03 Analysis on Spatial Integration of Thailand and Vietnam Rice Market in Indonesia By Dyah Ayu Suryaningrum Wen-I Chang Ratya Anindita Research
More informationTHE EVALUATION OF OUTPUT CONVERGENCE IN SEVERAL CENTRAL AND EASTERN EUROPEAN COUNTRIES
ISSN 1392-1258. ekonomika 2015 Vol. 94(1) THE EVALUATION OF OUTPUT CONVERGENCE IN SEVERAL CENTRAL AND EASTERN EUROPEAN COUNTRIES Simionescu M.* Institute for Economic Forecasting of the Romanian Academy
More informationRelationship between Health Care and Tourism Sectors to Economic Growth: The Case of Malaysia, Singapore and Thailand
Pertanika J. Soc. Sci. & Hum. 26 (2): 1203-1214 (2018) SOCIAL SCIENCES & HUMANITIES Journal homepage: http://www.pertanika.upm.edu.my/ Relationship between Health Care and Tourism Sectors to Economic Growth:
More informationPLEASE SCROLL DOWN FOR ARTICLE
This article was downloaded by:[lean, Hooi Hooi] On: 1 November 200 Access Details: [subscription number 859226] Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 10295
More informationPRICING BEHAVIOUR OF KAZAKH, RUSSIAN AND UKRAINIAN EXPORTERS IN THE INTERNATIONAL WHEAT MARKET
PRICING BEHAVIOUR OF KAZAKH, RUSSIAN AND UKRAINIAN EXPORTERS IN THE INTERNATIONAL WHEAT MARKET Gulmira Gafarova*, Oleksandr Perekhozhuk**, Thomas Glauben*** *Gulmira Gafarova PhD Student at the Leibniz
More informationAn empirical analysis of remittance inflation relationship in Bangladesh: post-floating exchange rate scenario
MPRA Munich Personal RePEc Archive An empirical analysis of remittance inflation relationship in Bangladesh: post-floating exchange rate scenario Ripon Roy and Md. Mokhlesur Rahman 7. April 2014 Online
More informationCOMPARATIVE ANALYSIS OF THE SOCIO- ECONOMIC DETERMINANTS OF FOREIGN DIRECT INVESTMENT: Evidence from Pakistan
255 Pakistan Economic and Social Review Volume 54, No. 2 (Winter 2016), pp. 255-274 COMPARATIVE ANALYSIS OF THE SOCIO- ECONOMIC DETERMINANTS OF FOREIGN DIRECT INVESTMENT: Evidence from Pakistan HAFEEZ
More informationAn Empirical Analysis of Pakistan s Bilateral Trade: A Gravity Model Approach
103 An Empirical Analysis of Pakistan s Bilateral Trade: A Gravity Model Approach Shaista Khan 1 Ihtisham ul Haq 2 Dilawar Khan 3 This study aimed to investigate Pakistan s bilateral trade flows with major
More informationResponse of the Philippines Gross Domestic Product to the Global Financial Crisis
Response of the Philippines Gross Domestic Product to the Global Financial Crisis Cynthia P. Cudia De La Salle University Manila, Philippines cynthia.cudia@dlsu.edu.ph John David C. Castillo De La Salle
More informationStatistical Appendix
Statistical Appendix The IMF s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq,
More informationModelling the Causal Relationship among Remittances, Exchange Rate, and Monetary Policy in Nigeria
Modelling the Causal Relationship among Remittances, Exchange Rate, and Monetary Policy in Nigeria Kenneth O. Obi, Ph.D Department of Economics, Nnamdi Azikiwe University, Awka, Nigeria, Augustine C. Osigwe,
More informationThe Impact of Foreign Aid on Economic Growth in Cambodia: A Co-integration Approach
KASBIT Business Journal (KBJ) Vol. 8, No.1, 4-25, May 2015 The Impact of Foreign Aid on Economic Growth in Cambodia: A Co-integration Approach Heng Hokmeng Paññāsāstra University of Cambodia, Phnom Penh,
More informationCrime and economic conditions in Malaysia: An ARDL Bounds Testing Approach
MPRA Munich Personal RePEc Archive Crime and economic conditions in Malaysia: An ARDL Bounds Testing Approach M.S. Habibullah and A.H. Baharom Universiti Putra Malaysia 12. October 2008 Online at http://mpra.ub.uni-muenchen.de/11910/
More informationThe Macroeconomic Determinants of Outward Foreign Direct Investment: The Case of Kuwait
Journal of Economic Cooperation and Development, 38, 2 (2017), 27-48 The Macroeconomic Determinants of Outward Foreign Direct Investment: The Case of Kuwait Nayef N. Al-Shammari 1 and Mariam S. Behbehani
More informationInflation and relative price variability in Mexico: the role of remittances
Applied Economics Letters, 2008, 15, 181 185 Inflation and relative price variability in Mexico: the role of remittances J. Ulyses Balderas and Hiranya K. Nath* Department of Economics and International
More informationThe Impact of Foreign Workers on Labour Productivity in Malaysian Manufacturing Sector
Int. Journal of Economics and Management 5(1): 169 178 (2011) ISSN 1823-836X The Impact of Foreign Workers on Labour Productivity in Malaysian Manufacturing Sector ZALEHA MOHD NOOR *, NORAINI ISA, RUSMAWATI
More informationTHE RELATIONSHIP BETWEEN CORRUPTION AND FOREIGN DIRECT INVESTMENT INFLOWS IN TURKEY: AN EMPIRICAL EXAMINATION
THE RELATIONSHIP BETWEEN CORRUPTION AND FOREIGN DIRECT INVESTMENT INFLOWS IN TURKEY: AN EMPIRICAL EXAMINATION M. Umur TOSUN M. Onur YURDAKUL Pelin VAROL İYIDOĞAN M. Umur TOSUN (corresponding author) Associate
More informationInterdependence of SAARC-7 countries: an empirical study of business cycles
MPRA Munich Personal RePEc Archive Interdependence of SAARC-7 countries: an empirical study of business cycles Haritharan Devanthran Universiti Malaysia Sarawak 2009 Online at http://mpra.ub.uni-muenchen.de/32798/
More informationCorruption and business procedures: an empirical investigation
Corruption and business procedures: an empirical investigation S. Roy*, Department of Economics, High Point University, High Point, NC - 27262, USA. Email: sroy@highpoint.edu Abstract We implement OLS,
More informationTRADE AND WAGE INEQUALITY: THE HONG KONG CASE
PER_217.fm Page 131 Tuesday, April 13, 2004 5:43 PM Pacific Economic Review, 9: 2 (2004) pp. 131 142 Blackwell Oxford, PER Pacific 1361-374X 2004 June 92Original trade c. s. fan 2004 Blackwell and Economic
More informationAsian Research Consortium
Asian Research Consortium Asian Journal of Research in Business Economics and Management Vol. 4, No. 11, November 2014, pp. 4662. ISSN 22497307 Asian Journal of Research in Business Economics and Management
More informationEuropean International Virtual Congress of Researchers. EIVCR May 2015
European International Virtual Congress of Researchers P a g e 18 European International Virtual Congress of Researchers EIVCR May 2015 Progressive Academic Publishing, UK www.idpublications.org European
More informationCAUSALITY RELATIONSHIP BETWEEN GDP, FDI, TOURISM: EMPIRICAL EVIDENCE FROM INDIA
I J A B E R, Vol. 14, No. 4, (2016): 2605-2613 CAUSALITY RELATIONSHIP BETWEEN GDP, FDI, TOURISM: EMPIRICAL EVIDENCE FROM INDIA Harwinder Kaur * and Vishal Sarin ** Abstract: Tourism is emerging as one
More informationPopulation Change and Economic Development in Albania
Population Change and Economic Development in Albania Alma Meta Dr. Abdulmenaf Sejdini Abstract This paper studies, to what extent have population changes and economic growth have affected each other in
More informationMeasuring the Shadow Economy of Bangladesh, India, Pakistan, and Sri Lanka ( )
Measuring the Shadow Economy of Bangladesh, India, Pakistan, and Sri Lanka (1995-2014) M. Kabir Hassan Blake Rayfield Makeen Huda Corresponding Author M. Kabir Hassan, Ph.D. 2016 IDB Laureate in Islamic
More informationA Gravitational Model of Crime Flows in Normal, Illinois:
The Park Place Economist Volume 22 Issue 1 Article 10 2014 A Gravitational Model of Crime Flows in Normal, Illinois: 2004-2012 Jake K. '14 Illinois Wesleyan University, jbates@iwu.edu Recommended Citation,
More informationInternational Journal of Humanities & Applied Social Sciences (IJHASS)
Governance Institutions and FDI: An empirical study of top 30 FDI recipient countries ABSTRACT Bhavna Seth Assistant Professor in Economics Dyal Singh College, New Delhi E-mail: bhavna.seth255@gmail.com
More informationStatistical Appendix
Statistical Appendix The IMF s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq,
More informationDYNAMIC RELATION BETWEEN ECONOMIC GROWTH, FOREIGN EXCHANGE AND TOURISM INCOMES: AN ECONOMETRIC PERSPECTIVE ON TURKEY
DYNAMIC RELATION BETWEEN ECONOMIC GROWTH, FOREIGN EXCHANGE AND TOURISM INCOMES: AN ECONOMETRIC PERSPECTIVE ON TURKEY Yalçın Arslantürk 1 and Sibel Atan 2 1 Department of Tourism Guidance, Faculty of Tourism,
More informationThe Effects of Economic Factors on Tourism Demand for Malaysia: A Case of Asian and European Countries
International Academic Institute for Science and Technology International Academic Journal of Social Sciences Vol. 5, No. 3, 2018, pp. 32-45. International Academic Journal of Social Sciences ISSN 2454-3918
More informationAsian Economic and Financial Review
Asian Economic and Financial Review journal homepage: http://aessweb.com/journal-detail.php?id=5002 THE CAUSALITY BETWEEN INCOME INEQUALITY AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM THE MIDDLE EAST
More informationSEPTEMBER TRADE UPDATE ASIA TAKES THE LEAD
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized SEPTEMBER TRADE WATCH SEPTEMBER TRADE UPDATE ASIA TAKES THE LEAD All regions show an
More informationDirection of trade and wage inequality
This article was downloaded by: [California State University Fullerton], [Sherif Khalifa] On: 15 May 2014, At: 17:25 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number:
More informationTHE USA S INTERNATIONAL TRAVEL DEMAND AND ECONOMIC GROWTH IN TURKEY: A CAUSALITY ANALYSIS: ( )
THE USA S INTERNATIONAL TRAVEL DEMAND AND ECONOMIC GROWTH IN TURKEY: A CAUSALITY ANALYSIS: (1990 2008) Cem IŞIK 1 Atatürk University This paper investigates the relationship between the USA international
More informationGENDER EQUALITY IN THE LABOUR MARKET AND FOREIGN DIRECT INVESTMENT
THE STUDENT ECONOMIC REVIEWVOL. XXIX GENDER EQUALITY IN THE LABOUR MARKET AND FOREIGN DIRECT INVESTMENT CIÁN MC LEOD Senior Sophister With Southeast Asia attracting more foreign direct investment than
More informationAN EMPIRICAL INVESTIGATION OF SAVING BEHAVIOUR IN PAKISTAN
55 Pakistan Economic and Social Review Volume 54, No. 1 (Summer 2016), pp. 55-72 AN EMPIRICAL INVESTIGATION OF SAVING BEHAVIOUR IN PAKISTAN NABILA ASGHAR AND MUHAMMAD NADEEM* Abstract. The main objective
More informationThe single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU
The single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU Irini Smaragdi, Constantinos Katrakilidis and Nikos C. Varsakelis 1 * Key words: foreign direct
More informationExchange rates have been at the center of policy and academic debates in developing
IMF Staff Papers Vol. 53, No. 6 International Monetary Fund Parity Reversion in Real Exchange Rates: Fast, Slow, or Not at All? PAUL CASHIN AND C. JOHN MCDERMOTT* This paper tests for purchasing power
More informationEDUCATION INTELLIGENCE EDUCATION INTELLIGENCE. Presentation Title DD/MM/YY. Students in Motion. Janet Ilieva, PhD Jazreel Goh
Presentation Title DD/MM/YY Students in Motion Janet Ilieva, PhD Jazreel Goh Forecasting International Student Mobility Global slowdown in the world economy is expected to affect global demand for overseas
More informationEast Asian Currency Union
East Asian Currency Union October 2006 Jong-Wha Lee Korea University and Robert J. Barro Harvard University Motivation Are Current Exchange Rate Arrangements in East Asia Appropriate? Before the crisis,
More informationForeign Direct Investment in Tourism: Panel Data Analysis of D7 Countries
Athens Journal of Tourism - Volume 2, Issue 2 Pages 93-104 Foreign Direct Investment in Tourism: Panel Data Analysis of D7 Countries By Cem Işik This paper uses the panel data of foreign direct investment
More informationFinancial Development And Economic Growth Revisited: Time Series Evidence
Financial Development And Economic Growth Revisited: Time Series Evidence Ariuna Taivan Abstract This paper examines the causality between financial development and economic growth for over 80 countries
More informationStatistical Appendix
Statistical Appendix The IMF s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq,
More informationExploring Economy Dependence in the Middle East Using Governmental Accounting Indicators: The Case of Palestine, Jordan & Israel
International Business Research; Vol. 9, No. 1; 2016 ISSN 1913-9004 E-ISSN 1913-9012 Published by Canadian Center of Science and Education Exploring Economy Dependence in the Middle East Using Governmental
More informationEMPIRICAL INVESTIGATION OF THE RELATIONSHIP BETWEEN TOURISM RECEIPTS AND SUSTAINABLE ECONOMIC GROWTH IN SRI LANKA
Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 5(7):1-7 Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 5(7):1-7 (ISSN: 21- Scholarlink Research Institute
More informationTHE CAUSAL RELATIONSHIP BETWEEN EXPORT AND ECONOMIC GROWTH OF PAKISTAN
International Journal of Economics, Commerce and Management United Kingdom Vol. V, Issue 2, February 2017 http://ijecm.co.uk/ ISSN 2348 0386 THE CAUSAL RELATIONSHIP BETWEEN EXPORT AND ECONOMIC GROWTH OF
More informationHow Does Foreign Direct Investment Promote Economic Growth? Empirical Evidence from Pakistan
How Does Foreign Direct Investment Promote Economic Growth? Empirical Evidence from Pakistan Mesbah ullah 1* Raza Muhammad 2 Israr Ahmad 3 1.Applied Economic Research Centre University of Karachi 2.Abasyn
More informationForeign Direct Investment, Economic Growth and Terrorism Events in Pakistan: A Co-Integration Analysis
Foreign Direct Investment, Economic Growth and Terrorism Events in Pakistan: A Co-Integration Analysis Syed Wahid Ali Shah Ph.D. Scholar, School of Economics, Finance and Banking, University Utara Malaysia
More informationMigration and Tourism Flows to New Zealand
Migration and Tourism Flows to New Zealand Murat Genç University of Otago, Dunedin, New Zealand Email address for correspondence: murat.genc@otago.ac.nz 30 April 2010 PRELIMINARY WORK IN PROGRESS NOT FOR
More informationEEDI-ESID. Economic Studies of International Development Vol.9-1(2009) College, Hartford, CT 06106,
REMITTANCES AND GROWTH IN LATIN AMERICA: A PANEL UNIT ROOT AND PANEL COINTEGRATION ANALYSIS RAMIREZ, Miguel D. * SHARMA, Hari Abstract Using recently developed panel unit root and panel cointegration tests
More informationDRIVERS OF TERRORISM IN PAKISTAN: An Evidence through Institutional Prism. Sehar SALEEM* and Saima SARWAR* I. Introduction
Pakistan Journal of Applied Economics, Vol.25 No.2, (193-211), Winter 2015 DRIVERS OF TERRORISM IN PAKISTAN: An Evidence through Institutional Prism Sehar SALEEM* and Saima SARWAR* Terrorism is a highly
More informationA Multivariate Analysis of the Factors that Correlate to the Unemployment Rate. Amit Naik, Tarah Reiter, Amanda Stype
A Multivariate Analysis of the Factors that Correlate to the Unemployment Rate Amit Naik, Tarah Reiter, Amanda Stype 2 Abstract We compiled a literature review to provide background information on our
More informationDynamics of Governance, Investment and economic Growth in Nigeria. Adeniyi O. Adenuga and Osaretin EVBUOMWAN *
Dynamics of Governance, Investment and economic Growth in Nigeria Abstract Adeniyi O. Adenuga and Osaretin EVBUOMWAN * There is a general argument that, in all countries, the process of economic growth,
More informationExploring relations between Governance, Trust and Well-being
Exploring relations between Governance, Trust and Well-being Using recent Gallup WorldPoll data Robert Manchin Gallup Europe Asia-Pacific Conference on Measuring Well-Being and Fostering the Progress of
More informationIs the Tourism-Led Growth Hypothesis Valid for the Dominican Republic: Results from the Bounds Test for Cointegration and Granger Causality Tests
Is the Tourism-Led Growth Hypothesis Valid for the Dominican Republic: Results from the Bounds Test for Cointegration and Granger Causality Tests Abstract Santiago Grullón* Senior Director of Research
More information1. Introduction. The Stock Adjustment Model of Migration: The Scottish Experience
The Stock Adjustment Model of Migration: The Scottish Experience Baayah Baba, Universiti Teknologi MARA, Malaysia Abstract: In the many studies of migration of labor, migrants are usually considered to
More informationEconomic Integration between ASEAN+5 Countries: Comparison of GDP
MPRA Munich Personal RePEc Archive Economic Integration between ASEAN+5 Countries: Comparison of GDP Jerome Swee-Hui Kueh and Chin-Hong Puah and Murphy Lai Mattias Faculty of Economics and Business, Universiti
More informationRemittance Inflow and Economic Growth: The Case of Georgia
SCITECH Volume 6, Issue 2 RESEARCH ORGANISATION June 13, 2016 Journal of Research in Business, Economics and Management www.scitecresearch.com Remittance Inflow and Economic Growth: The Case of Georgia
More informationRural-urban Migration and Urbanization in Gansu Province, China: Evidence from Time-series Analysis
Rural-urban Migration and Urbanization in Gansu Province, China: Evidence from Time-series Analysis Haiying Ma (Corresponding author) Lecturer, School of Economics, Northwest University for Nationalities
More informationFlows in the Czech Labor Market and Foreign Workers 1
Ekonomický časopis, 63, 2015, č. 10, s. 989 1002 989 Flows in the Czech Labor Market and Foreign Workers 1 Vít POŠTA Libuše MACÁKOVÁ* 1 Abstract In the paper we analyse the flows in and out of the unemployed
More informationARE WORKERS REMITTANCES A HEDGE AGAINST MACROECONOMIC SHOCKS? THE CASE OF SRI LANKA
ARE WORKERS REMITTANCES A HEDGE AGAINST MACROECONOMIC SHOCKS? THE CASE OF SRI LANKA Erik Lueth and Marta Ruiz-Arranz* This paper estimates a vector error correction model for Sri Lanka in order to determine
More informationBahrain Telecom Pricing International Benchmarking. December 2018
Bahrain Telecom Pricing International Benchmarking December 2018 1 CONTENTS OF THIS REPORT Report overview 3 PSTN basket results for GCC countries, including time series 4 Mobile basket results for GCC
More informationForeign Aid, FDI and Economic Growth in East European Countries. Abstract
Foreign Aid, FDI and Economic Growth in East European Countries Rabindra Bhandari University of Western Ontario Gyan Pradhan Westminster College Dharmendra Dhakal Tennessee State University Kamal Upadhyaya
More informationTHE RELATIONSHIP OF EXPORTS, IMPORTS AND ECONOMIC GROWTH BETWEEN CHINA AND SELECTED ASEAN COUNTRIES. Li Ying Xian
THE RELATIONSHIP OF EXPORTS, IMPORTS AND ECONOMIC GROWTH BETWEEN CHINA AND SELECTED ASEAN COUNTRIES Li Ying Xian Bachelor of Economics with Honours (International Economics) 2012 Pusat Khidmat Maklumat
More informationVolume 31, Issue 4. Can population growth contribute to economic development? New evidence from Singapore
Volume 31, Issue 4 Can population growth contribute to economic development? New evidence from Singapore Fumitaka Furuoka Universiti Malaysia Sabah Qaiser Munir Universiti Malaysia Sabah Abstract This
More informationDeterminants of Chinese demand for tourism in Malaysia
Business and Economic Horizons Peer-reviewed and Open access journal ISSN: 1804-5006 www.academicpublishingplatforms.com The primary version of the journal is the on-line version BEH - Business and Economic
More informationAid-Growth Nexus in South Asia: Evidence from Time Series and Panel Cointegration
Aid-Growth Nexus in South Asia: Evidence from Time Series and Panel Cointegration Murshed Chowdhury (Corresponding author) Department of Economics, University of Manitoba 501-15 Chancellors Circle, Winnipeg,
More informationA re-examination of an Irish government popularity function
A re-examination of an Irish government popularity function Trinity Economic Papers Series Technical Paper No. 98/2 JEL Classification: C22, H89 Michael Harrison, Michael Marsh Department of Economics,
More informationVolume 36, Issue 1. Impact of remittances on poverty: an analysis of data from a set of developing countries
Volume 6, Issue 1 Impact of remittances on poverty: an analysis of data from a set of developing countries Basanta K Pradhan Institute of Economic Growth, Delhi Malvika Mahesh Institute of Economic Growth,
More informationLevel of Economic Development and Political Democracy Revisited
Level of Economic Development and Political Democracy Revisited YONG U. GLASURE,* AIE-RIE LEE,** AND JAMES NORRIS** This article reassesses a democracy-economic development linkage for the period 1972
More informationTHE ROLE OF REMITTANCES RECEIVED ON THE POST-COMMUNIST ALBANIA S FINANCIAL DEVELOPMENT
THE ROLE OF REMITTANCES RECEIVED ON THE POST-COMMUNIST ALBANIA S FINANCIAL DEVELOPMENT Genci Gjanci, MA Ardian Cerava, MA Fan S. Noli University, Korce, Albania Abstract Studies on the role of remittances
More informationThe effects of remittances outflows on economic growth in Saudi Arabia: Empirical evidence
Vol. 9(5), pp. 36-43, May, 2017 DOI: 10.5897/JEIF2017.0828 Article Number: 1BBBD4464406 ISSN 2006-9812 Copyright 2017 Author(s) retain the copyright of this article http://www.academicjournals.org/jeif
More informationOn An Optimum Currency Area for the GCC Countries: An Analysis of the Economic Impact on the Kuwait Economy.
International Review of Business Research Papers Volume 6. Number 4. September 2010. Pp. 295 309 On An Optimum Currency Area for the GCC Countries: An Analysis of the Economic Impact on the Kuwait Economy.
More informationUniversity of Wollongong Economics Working Paper Series 2006
University of Wollongong Economics Working Paper Series 2006 http://www.uow.edu.au/commerce/econ/wpapers.html Structural Breaks in Trade and Income Per Capita in ASEAN-5 Countries: An Application of Innovational
More informationSSRG International Journal of Economics and Management Studies (SSRG-IJEMS) volume 4 Issue 8 August 2017
The Impact of Foreign Direct Investment on Economic Growth in Somalia Mohamed Mire Mohamed, North South University, Daka Bangladesh Najibullah Nor Isak, Ministry of Finance of Somalia Abstract After the
More information