Testing Export-Led Growth in Bangladesh: An ARDL Bounds Test Approach
|
|
- Nancy Andrews
- 6 years ago
- Views:
Transcription
1 Testing Exort-Led Growth in Bangladesh: An ARDL Bounds Test Aroach Biru Paksha Paul Abstract Existing literature on exort-led growth for develoing countries is voluminous but inconclusive. The emerging economy of Bangladesh is registering sectacular growth in both exorts and outut in recent decades. This scenario has sarked a rise in research on the exort-outut relationshi for the country. The results are nevertheless ambiguous. In a study over the liberalized regime from 979 to 00, this study engages a relatively new method of the autoregressive distributive lag (ARDL) bounds test aroach, and finds strong evidence on exort-led growth for Bangladesh in both the long run and the short run. Imorts, however, do not show any significant relationshi with outut. The trade reform that began in Bangladesh in the late 970s aears to have benefited the country s economic growth. Index Terms ARDL bounds test, Bangladesh economy, exort-led growth, level relationshi, trade liberalization. JEL Codes: F4, F43, C3, O53 I. INTRODUCTION With the advent of trade liberalization in recent decades, the hyothesis of exort-led growth has drawn widesread attention to research. Bangladesh, as a vibrant South Asian economy, has recently exhibited sectacular growth erformance. The growth rates of its gross domestic roduct (GDP), imorts, and exorts remained above 5, 6, and 0 ercent, resectively, over the last two decades []. This scenario has triggered a number of questions such as: ) Is a significant art of Bangladesh s GDP growth exort-led? ) What is the imort-outut relationshi? 3) Is exort-led growth in Bangladesh, if any, a long-run or short-run henomenon? This aer attemts to address these questions by examining Bangladesh s trade-outut relationshi in an autoregressive distributed lag (ARDL) bounds test aroach, a relatively new method to cointegration. The studies on exort-led growth in Bangladesh are numerous, but the results are still inconclusive. The ositive imact of exorts on outut in the short run is not surrising as exorts enter the aggregate income equation []. In the long run, exorts may affect growth through availing economies of scale, introducing incentives of imroving the quality of the roducts, reducing inefficiencies, and finally, innovating new technology due to cometitive ressure in the world market [3]-[6]. Since the main objective of this study is to examine exort-led growth for Bangladesh, I resent the most relevant studies on the trade-outut The manuscrit received Setember 9, 03; revised October 7, 03. Biru Paksha Paul is with the State University of New York at Cortland (SUNY Cortland) ( biru.aul@cortland.edu). relationshi for the country. While [7] finds evidence of exort-led growth in Bangladesh for the eriod, [8] finds no significant effect of exort growth on GDP growth over the eriod. Reference [9] finds that exort growth significantly increases economic growth through its ositive imact on total factor roductivity over the eriod. Reference [0] finds no evidence of a long-term relationshi between exorts and economic growth over the eriod. Reference [] finds the evidence of exort-led growth for Bangladesh in both the long and the short run over the eriod. Reference [] finds both long-run and short-term causality from income to exorts over the eriod. Reference [3] finds unidirectional causality from exorts to growth for the eriod. Reference [4] shows that trade liberalization fosters exort growth for the eriod. Reference [5] works with 44 develoing countries over the eriod, and finds evidence on exort-led growth for Bangladesh in the long run, not in the short-run. Reference [6] finds limited suort for exortled growth over the eriod. Reference [7] finds long-run evidence on exort-led growth for the eriod. Reference [8] is the only one that uses the ARDL aroach like mine, and examines the contributions of exorts, foreign direct investments, and remittances to GDP of South Asian countries. Based on a samle, this work finds the evidence of cointegration among these variables in Bangladesh. The error correction term, however, is highly insignificant (-value 0.63), suggesting an unstable long-run equilibrium model. When most aers in this resect find evidence on exortled growth in Bangladesh, they have three major shortcomings: omitting imortant variables, selecting inaroriate variables and samles, and indulging methodological deficiencies. Although GDP and exorts are of rimary imortance in testing exort-led growth, excluding imorts can create omitted variable bias or missecification error. Many studies overlook this issue. Some studies use the IIP to roxy GDP an attemt inaroriate for a country like Bangladesh [9]. Of crucial imortance is the issue of samle selection. After its indeendence in 97, Bangladesh embarked on socialist lanning, and the consequential trade controls were massive. After the regime change in 975, the country slowly began to move towards rivatization and the market economy. The exchange rate remained fixed until the late 970s. In 979, Bangladesh launched a managed exchange rate to romote exorts in articular. In the same year, the ruling government won the arliamentary election and that legitimacy emowered the regime to continue its liberalization olicies. Anti-exort bias was reversed. The DOI: /IJTEF.04.V5.33
2 exort romotion bureau was remodeled in 979 to exlore new areas of trade. Hence, the year of 979 can be viewed as a beginning of trade liberalization in Bangladesh (see [0], [] for details). Most studies ignored this oint in samle selection. Many studies suffer from methodological deficiencies such as small samle and omitted variable bias, imroer conversion of data frequency, conflicting results in the Johansen test, and insignificant error-correction model. My study overcomes these shortcomings, and adots an efficient aroach to measure both the long-run and shortrun exort-income relationshi in Bangladesh. In a samle over the liberalized regime from 979 to 00, this study finds evidence on exort-led growth for Bangladesh. The result is robust in that the effect of exorts on outut is ositive and significant in both the long run and the short run. Imorts, however, do not show any significant relationshi with GDP. The exchange rate reform and exort romotion efforts that began in the late 970s aear to have benefited Bangladesh s growth. II. DATA AND METHODOLOGY The 000-constant U.S. dollar values of GDP, exorts, and imorts have been collected from []. These series commence in 979, the beginning of the liberalized regime, and end in 009. Based on [] and [3], I add observations for 00. Although discarding the observations of 00 does not make any difference in findings, I refer to kee them to increase the degrees of freedom. Thus, the samle begins in 979 and ends in 00, as shown in Fig.. I(0), urely, or mutually cointegrated. In contrast, the Johansen test can work only with nonstationary series. Moreover, it is unnecessary that the order of integration of the underlying regressors be ascertained rior to testing the existence of a level relationshi. Therefore, unlike tyical alications of cointegration analysis, this method is not subject to this articular kind of retesting roblem. Thus, a long-run relationshi can be established with this technique irresective of the time series roerties of the variables in the model. Even when some of the model regressors are endogenous, the bounds testing aroach generally rovides unbiased long-run estimates and valid t- statistics [9], [30]. Moreover this aroach rovides a method of simultaneously assessing the short-run and the long-run effects of one variable on the other. At the same time, the ARDL has an aealing searation of short-and long-run effects [3]. The long-run relationshi can be estimated in the following forms: y=α t + βx+β t m+ε () t t xt 3 4mt t () mt 3 5 6xt 3t (3) where y denotes income/gdp/outut, x stands for exorts, m is imorts, α i (i = 3) stands for intercet terms, β i (i = 6) signifies coefficients on resective variables, and finally ε it (i = 3) denotes error terms. To imlement the bounds testing rocedure, the following conditional ARDLerror correction models (ECMs) are resented, which corresond to () through (3), resectively: c xt 3mt i xt mt u t (4) xt c xt 3mt xt mt ut (5) mt c3 mt 3xt xt mt u3 t (6) Fig.. Bangladesh s outut, exorts, and imorts (in log). Source: [], [], and [3]. The studies that sequentially develoed the ARDL bounds test aroach include [4], [5], and [6]. There are numerous advantages in the ARDL method, which makes it more useful than others. With a small samle size, as is the case with mine, this method is more efficient than other techniques. In contrast, the Johansen cointegration technique, as in [7], requires larger samles for the results to be valid [8]. The simlicity of this ARDL bounds test method is aealing. As oosed to other multivariate cointegration techniques, it allows the cointegrating relationshi to be estimated by the OLS method once the lag order of the model is identified. This asymtotic theory rovides a simle univariate framework for testing the existence of a single level relationshi between a variable and its regressors when it is not known with certainty whether the regressors are urely integrated of order one, where Δ denotes the first difference oerator. c i (i = 3) shows constants, π i (i = 3) signifies coefficients on the lagged levels, θ i, i, and δ i (i = ) denote coefficients on the lagged variables, and finally u i (i = 3) stands for error terms. signifies the maximum lag length, which is decided by the user. The researcher usually deends on literature and convention to determine the maximum lag length. The selection criteria such as Schwarz Bayesian Criterion (SBC) and Akaike Information Criterion (AIC) are mainly used to determine the order of the ARDL model. Given my samle size, I decide to use the SBC to determine the lag length of the ARDL, because the SBC chooses the most arsimonious model [3], [33]. Here F and W (Wald) statistics are emloyed to bounds test for the existence of a long-run relationshi where the null hyothesis states that the coefficients on the lagged levels are zero: H 0 : π = π = π 3 = 0. This method rovides lower and uer bound critical values where the lower
3 bound critical values assume all variables are I(0) while the uer bound critical values assume all variables are. If the calculated F or W statistic exceeds the uer bound, the null hyothesis of no cointegration can be rejected. If they fall below the lower bound, the null hyothesis of no longterm relationshi cannot be rejected. However, if they fall within their resective bounds, inference would be inconclusive. Now estimating long-run coefficients and the ECM along with the short-run arameters becomes necessary. The sign of the error correction (EC) coefficient must be negative and significant to ensure convergence of the dynamics to the long-run equilibrium. III. ARDL AND ERROR CORRECTION ESTIMATIONS As discussed before, testing the variables for unit roots before the ARDL estimation is unnecessary, because this estimation can accommodate any variables, which are, I(0), or mutually cointegrated. However, one limitation of the ARDL method is that it cannot be estimated with I() series. Although the series of GDP, exorts, and imorts, as shown in Fig., are most likely I (), I refer to test them to make sure that none of them are I (). TABLE I: PHIILIPS-PERRON UNIT ROOT TESTS WITH BANGLADESH S OUTPUT, EXPORTS, AND IMPORTS: Variables: In levels In first difference Outut 7.39 (.00) Exorts 0.60 (0.99) Imorts (0.9) Model A Model B Model A Model B Integration -.7 (0.90) -.0 (0.47) -.43 (0.36) (0.0) Note: Model A includes intercet, and Model B includes both intercet and trend. The null hyothesis states that the variable has a unit root. - values are shown in the arentheses under each adjusted t-statistic. Source: [], [],and [3]. The Augmented Dickey-Fuller (ADF) test is widely used in this regard, as in [34] and [35]. Reference [36] roosed a modification of the Dickey-Fuller (DF) test and has develoed a comrehensive theory of unit roots. The Phillis-Perron (PP) test has introduced a t-statistic on the unit-root coefficient in a DF regression, corrected for autocorrelation and heteroskedasticity. Formally, the ower of a test is equal to the robability of rejecting a false null hyothesis. Monte Carlo simulations show that the ower of the various DF tests can be very low. Reference [37:07] comments that the DF test does not have serious size distortions, but it is less owerful than the PP test. Reference [38] asserts that for low frequency data like mine the PP test aears to be more owerful than the ADF test. Accordingly, I adot the PP methodology to test unit roots in the variables. Table I resents the results of the Phillis- Perron unit root tests with Bangladesh s GDP, exorts and outut. All the variables exhibit unit roots, whereas they become stationary in first differences. Thus, none of the series are (), and they can be used in the ARDL bounds test method. The aroach rovides us with 95 ercent critical bounds for the F and W (Wald) statistics, as shown in Table II. TABLE II: ARDL COINTEGRATION TESTS WITH GDP, EXPORTS, AND IMPORTSIN BANGLADESH: LHS Variable ΔGDP t Δexorts t Δimorts t Forcing Variable exorts, imorts GDP, imorts GDP, exorts F- statis 95% Critical Bounds W- statis 95% Critical Bounds I (0) I () I (0) I () Cointegration Positive Absent Absent Note: The null hyothesis for the F-test W-test is π = π = π 3 = 0. π, π, and π 3 denote coefficients on lagged levels as er (4) through (6). Statistics are bold when significant at the 5 ercent level.δ denotes the first order difference oerator. Source: Same as in Table I. The critical value bounds are comuted by stochastic simulations using 0,000 relications [39]. The long-run level relationshi is evident only when GDP is deendent on exorts and imorts. The F statistic is significant at the 5 ercent level, and so is the W statistic in a consistent manner. Both statistics exceed the 95 ercent uer bound, signifying cointegration among GDP, exorts, and imorts. Cointegration disaears when either exort growth or imort growth is laced in the LHS as er (4) and (5), suggesting no evidence of growth-led exort or growthinduced imort in the long run. The long-term feedback between exorts and imorts is also absent. Since both exorts and imorts act as forcing variables in the exlanation of GDP, we are not sure at this oint whether this imlies exort-led growth or imort-led growth or a combination of both until we get the long run estimates. TABLE III: LONGRUN COEFFICIENTS AND ERROR CORRECTION ESTIMATES FOR ARDL(, 0, 0) MODEL Panel A: Long run coefficients with GDP(t) as deendent variable: Constant exorts(t) imorts(t) Coefficient.983*** 0.88*** Standard error Δexorts (t) Δimorts (t) ECM (t-) Adj. Coefficient 0.045** * 0.63 Standard error Panel C: Diagnostic tests: Regressors Panel B: Error correction model (ECM) estimations with ΔGDP(t) as deendent variable: Regressors ECM(t) = GDP(t) exorts(t) imorts(t) intercet LM-Version F-Version Statistics -value Statistics -value A: Serial Correlation χ()= F(,5)= B: Functional Form χ()= F(,5)= C: Normality χ()= N/A - D: Heteroskedasticity χ()= F(,8)= Note: Δ denotes the first order difference oerator. *, **, and *** indicate that the coefficients are significant at the 0 %, 5%, and % levels, resectively. In Panel C, the nulls are: (A) no serial correlation, (B) no functional-form missecification, (C) no non-normal errors, and (D) no heteroskedasticity. Source: Same as in Table I. Table II guides us to select (4) only for the ARDL. The R 3
4 SBC selects an ARDL (, 0, 0) model, whose results are resented in Table III. Panel A of Table III gives the longrun coefficients of the ARDL estimations. The coefficient on exorts is 0.88, and is highly significant, suggesting that GDP rises by the 88 ercent of the increase in exorts in the long run. In contrast, the long-run imact of imorts on GDP is negative but highly insignificant. While exort-led growth for Bangladesh is quite evident, imorts have no significant effect on outut in the long run. The results of the error-correction model, as resented in Panel B of the same table, are quite consistent with that of Panel A. The short-run imact of exorts on GDP is also ositive and significant at the 5 ercent level. Thus, exorts foster GDP growth in Bangladesh both in the short run and long run. The role of imorts in the error-correction model remains as insignificant as before. The error-correction term is negative as exected, but it is significant at the 0 ercent level, instead of the conventional 5 ercent level. The negative sign before the error-correction term, , suggests that the long-run equilibrium relation comes back to the steady state if the system is ever shocked. The value of the coefficient, however, is very low, suggesting that it will take a long time to restore the steady-state relation if the system is disturbed. The estimated model reflects a fairly high level of goodness of fit, as shown in the adjusted R-squared value, Panel C of the same table resents the diagnostic tests for the estimation. Given the results of the diagnostic tests in both LM and F versions, this estimated model is free of serial correlations, functional-form missecification, nonnormal errors, and heteroskedasticity at the 5 ercent level. IV. CONCLUSION The recent growth erformance of Bangladesh in both outut and exorts has sarked some questions such as: ) Is a significant art of Bangladesh s GDP growth exort-led? ) Is exort-led growth in Bangladesh, if any, a long-run or short-term henomenon? 3) Is there any feedback between GDP and imorts? My aer addresses these questions in an ARDL bounds test aroach. The results of the studies in this resect are still inconclusive. This aer fills that ga by overcoming the shortcomings of samle selection and methodology that ersisted in most revious aers. In a study over the liberalized regime from 979 to 00, this work finds evidence on exort-led growth for Bangladesh. The result is valid in both the long run and the short run. Imorts, however, do not have any significant relationshi with GDP. The trade reform and exort romotion agenda that commenced in the late 970s aear to have benefited Bangladesh s growth. This finding of exort-led growth for Bangladesh has olicy imlications for other develoing nations that asire to grow fast but confront dilemmas with trade liberalization and economic oenness. This aer raises some additional questions: ) Why is not the feedback between GDP and imort significant? ) How do we estimate the imort demand function for Bangladesh? 3) Is exort-led growth also evident in other South Asian countries? These questions are left for future research. ACKNOWLEDGMENT I am thankful to Christoher Hanes, Daniel Henderson, and Urbashee Paul for their valuable comments. My secial thanks go to Anuam Das and Gazi Salah Uddin for their resource and data suort. Contact: biru.aul@cortland.edu, Tel: REFERENCES [] WB, World Develoment Indicators 00 CD-ROM, World Bank, Washington DC, 00. [] G. Feder, On exorts and economic growth, Journal of Develoment Economics, vol., , 98. [3] B. Balassa, Exorts and Economic Growth: Further Evidence, Journal of Develoment Economics, vol. 5,. 8-89, 978. [4] J. N. Bhagwati and T. N. Srinivasan, Trade olicy and develoment, in International Economic Policy: Theory and Evidence, R. Dornbusch, and J. A. Frenkel, Eds. Johns Hokins University Press, 978, [5] W. G. Tyler, Growth and exort exansion in develoing countries: some emirical evidence, Journal of Develoment Economics, vol. 9,. -30, 98. [6] D. Rodrik, Closing the technology ga: does trade liberalization really hel? NBER WP 654, 988. [7] S. Dodaro, Exorts and growth: A reconsideration of causality, Journal of Develoing Areas, vol. 7, , 993. [8] M. N. Islam and M. Iftekharuzzaman, Exorts-Growth Nexus in a Small Oen Economy: The Case of Bangladesh, in the Economy of Bangladesh: Problems and Prosects, C. E. Weis and A. Wahid, Eds., Praeger Publishing, CT, 996, [9] S. Begum, and A. F. M. Shamsuddin, Exorts and economic growth in Bangladesh, Journal of Develoment Studies, vol. 35,. 89 4, 998. [0] A. Razzaque, B. H. Khondker, N. Ahmed, and M. K. Mujeri, Trade liberalization and economic growth: Emirical evidence on Bangladesh, MAP technical aer, Bangladesh Institute of Develoment Studies, 003. [] M. A. Hossain, and N. D. Karunaratne, Exorts and economic growth in Bangladesh: Has manufacturing exorts become a new engine of exort-led growth? International Trade Journal, vol. 8, no. 4, , 004. [] J. Love and R. Chandra, Exort-led growth in Bangladesh in a multivariate VAR framework, Journal of Asian Economics, vol. 5, , 005. [3] K. A. A. Mamun and H. K. Nath, Exort-led growth in Bangladesh: A time series analysis, Alied Economics Letters, vol., , 005. [4] P. J. Dawson, The exort income relationshi and trade liberalization in Bangladesh, Journal of Policy Modeling, vol. 8, , 006. [5] M. B. Oskooee and M. Oyolola, Exort growth and outut growth: An alication of bounds testing aroach, Journal of Economics and Finance, vol. 3, no.,. -, 007. [6] H. A. Ahmed and M. G. S. Uddin, Exort, imorts, remittance and growth in Bangladesh: An emirical analysis, Trade and Develoment Review, vol., no.,. 79-9, 009. [7] M. A. Hossain, L. Haseen, and N. Jabin, Dynamics and causality among exorts, imorts and income in Bangladesh, Bangladesh Develoment Studies, vol. 3, no.,. 0-3, 009. [8] M. Rahman, Contributions of exorts, FDI, and exatriates remittances to real GDP of Bangladesh, India, Pakistan, and Sri Lanka, Southwestern Economic Review, vol. 36,. 4-53, Sring, 009. [9] P. Dua and A. Banerji, An indicator aroach to business and growth rate cycles: The case of India, Indian Economic Review, vol. 36, no., , 00. [0] N. Aziz. (008). The role of exchange rate in trade balance: Emirics from Bangladesh. Working aer, University of Birmingham. [Online] Available: htt:// [] S. A. Choudhury. (008). Prioritizing develoment: Imact of trade olicy: Bangladesh ersective. [Online]. Available: htt:// f_new%0delhi%0%07_8%0dec%0008.t(4-- 08,04.5).df [] MoF. (00a). Macro Scenario-Bangladesh ministry of finance. [Online]. Available: htt:// 4
5 mes_en_july_se_0.df?hmyadmin=gqnistr56c5oxdv%cer uqlwwom5andhmyadmin=xrgktgdj7v3tjluz5xtaqmrx9 [3] MoF. (00b). Medium-Term macroeconomic framework: Bangladesh ministry of finance. [Online]. Available: htt:// MyAdmin=GqNisTr56C5oxdV,EruqlWwoM5,. [4] M. H. Pesaran and B. Pesaran, Working with Microfit 4.0: Interactive Econometric Analysis, Oxford University Press, 997. [5] M. H. Pesaran and Y. Shin, An autoregressive distributed lag modeling aroach to cointegration analysis, in Econometrics and Economic Theory in the 0th Century: The Ragnar Frisch Centennial Symosium, S. Strom, Ed. Cambridge University Press, 999, [6] M. H. Pesaran, Y. Shin, and R. J. Smith, Bounds testing aroaches to the analysis of level relationshis, Journal of Alied Econometrics, vol. 6, , 00. [7] S. Johansen and K. Juselius, Maximum likelihood estimation and inference on cointegration with alication to the demand for money, Oxford Bulletin of Economics and Statistics, vol. 5, , 990. [8] S. Ghatak and J. Siddiki, The use of ARDL aroach in estimating virtual exchange rates in India, Journal of Alied Statistics, vol. 8, , 00. [9] P. K. Narayan, The saving and investment nexus for China: evidence from cointegration Tests, Alied Economics, vol. 37, no. 7, , 005. [30] N. M. Odhiambo, Energy consumtion and economic growth nexus in Tanzania: An ARDL bounds testing aroach, Energy Policy, vol. 37, no.,. 67-6, 008. [3] I. Bentzen and T. Engsted, A revival of the autoregressive distributed lag model in estimating energy demand relationshis, Energy, vol. 6, , 00. [3] W. Enders, Alied Econometric Time Series, 3e, Wiley, NJ, 00. [33] H. Lutkeohl, Comarison of criteria for estimating the orders of a vector autoregressive rocess, Journal of Time Series Analysis, vol. 6,. 35-5, 985. [34] D. Dickey, and W. A. Fuller, Distribution of the Estimates for Autoregressive Time Series with a Unit Root, Journal of the American Statistical Association, vol. 74, , 979. [35] D. Dickey and W. A. Fuller, Likelihood ratio statistics for autoregressive time series with a unit root, Econometrica, vol. 49, , 98. [36] P. C. Phillis and P. Perron, Testing for a Unit Root in Time Series Regression, Biometrika, vol. 75, no., , 988. [37] G. S. Maddala and I. M. Kim, Unit Roots, Cointegration, and Structural Change, Cambridge University Press, 998. [38] I. Choi and B. Chung, Samling Frequency and the Power of Tests for a Unit Root: A Simulation Study Economics Letters, vol. 49,. 3-36, 995. [39] B. Pesaran and M. H. Pesaran, Time Series Econometrics using Microfit 5.0, Oxford University Press, 009. Biru Paksha Paul was born in Bangladesh in 963. He received his B.S.S. (Honors) and M.S.S. both in economics from the University of Dhaka in 986 and 989, resectively. He earned his M.B.A. in finance from the University of Technology-Sydney in 999. He received his M.A. in alied economics from the State University of New York at Binghamton in 004. He received his Ph.D. in economics from the same university in 007. He is now serving as an associate rofessor of economics at the State University of New York at Cortland (SUNY Cortland) where he joined in 007. He teaches macroeconomics and finance by relating theories to his twelve-year industry exerience in banking and economic journalism. He worked as a consultant at Bangladesh s Central Bank, Ministry of Finance, and the UNDP. His aers have been acceted in numerous journals such as the Journal of Asian Economics, Journal of Quantitative Economics, Energy Economics, Indian Economic Review, and International Review of Economics. He has ublished one book on Indian business cycles and inflation. His research interest focuses on macroeconomic olicy and economic growth of develoing economies. Dr. Paul is a life member of Bangladesh Economic Association. He received SUNY Cortland Award for excellence in research and scholarshi in
Journal 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 informationIs Immigration Necessary and Sufficient? The Swiss Case on the Role of Immigrants on International Trade. Yener Kandogan
Is Immigration Necessary and Sufficient? The Swiss Case on the Role of Immigrants on International Trade By Yener Kandogan School of Management, University of Michigan-Flint, 303 E. Kearsley, Flint, MI48502
More informationRole of remittances in small Pacific Island economies: an empirical study of Fiji
526 Int. J. Economics and Business Research, Vol. 3, No. 5, 2011 Role of remittances in small Pacific Island economies: an emirical study of Fiji T.K. Jayaraman* Faculty of Business and Economics, School
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 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 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 informationDynamic Econometric Relationship between Migration and Urbanization in India
International Journal of Statistics and Systems ISSN 0973-2675 Volume 12, Number 1 (2017), pp. 43-55 Research India Publications http://www.ripublication.com Dynamic Econometric Relationship between Migration
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 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 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 informationEconomics Discussion Paper Series EDP-1502
Economics Discussion Paer Series EDP-150 Education, Health, and Economic Growth Nexus: A Bootstra Panel Granger Causality Analysis for Develoing Countries Hüseyin Şen Ayşe Kaya Barış Alaslan January 015
More informationFOREIGN DIRECT INVESTMENT, WORKERS REMITTANCES AND PRIVATE SAVING IN PAKISTAN: AN ARDL BOUND TESTING APPROACH
Journal of Business Economics and Management ISSN 6-699 / eissn 2029-4433 205 Volume 6(6): 26 234 doi:0.3846/6699.203.792867 FOREIGN DIRECT INVESTMENT, WORKERS REMITTANCES AND PRIVATE SAVING IN PAKISTAN:
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 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 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 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 informationJournal of Public Economics
Journal of Public Economics 92 (2008) 2225 2239 Contents lists available at ScienceDirect Journal of Public Economics journal homeage: www.elsevier.com/locate/econbase The informational role of suermajorities
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 informationEFFECTS OF REMITTANCES ON PER CAPITA ECONOMIC GROWTH OF PAKISTAN
Effects of Remittances on Per Capita Economic Growth... EFFECTS OF REMITTANCES ON PER CAPITA ECONOMIC GROWTH OF PAKISTAN Khalil Jebran 1, Abdullah 2, Amjad Iqbal 3 & Irfan Ullah 4 Abstract This study investigates
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 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 informationMeasuring Distributed Durations with Stable Errors
Measuring Distributed Durations with Stable Errors António Casimiro Pedro Martins Paulo Veríssimo Luís Rodrigues Faculdade de Ciências da Universidade de Lisboa Bloco C5, Camo Grande, 1749-016 Lisboa,
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 informationEXPLORING THE NEXUS BETWEEN REMITTANCES, ODA, FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: A STUDY OF INDIA
I J A B E R, Vol. 14, No. 12, (2016): 8597-8608 EXPLORING THE NEXUS BETWEEN REMITTANCES, ODA, FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: A STUDY OF INDIA Ujjal Protim Dutta*, Hemant Gupta** and Partha
More informationDo Emigrant s Remittances Cause Dutch Disease? : The Case of Nepal and Bangladesh
Do Emigrant s Remittances Cause Dutch Disease? : The Case of Nepal and Bangladesh Hiroyuki Taguchi 1,* & Bikram Lama 1 1 Dept. of Japanese and Asian Studies, Saitama University, 255 Shimo-Okubo, Sakura-ku,
More informationA Note on the Optimal Punishment for Repeat Offenders
forthcoming in International Review of Law and Economics A Note on the Otimal Punishment for Reeat Offenders Winand Emons University of Bern and CEPR revised May 2002 Abstract Agents may commit a crime
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 informationVolume 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 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 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 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 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 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 informationEndogenous Political Institutions
Endogenous Political Institutions Philie Aghion, Alberto Alesina 2 and Francesco Trebbi 3 This version: August 2002 Harvard University, University College London, and CIAR 2 Harvard University, NBER and
More informationMacroeconomic Determinants of Tariff Policy in Pakistan
Macroeconomic Determinants of Tariff Policy in Pakistan Dr. Mohammed Nishat Professor and Chairman, Department of Finance and Economics Institute of Business Administration-IBA University Road, Karachi
More informationRemittances and the Dutch Disease: Evidence from Cointegration and Error-Correction Modeling
St. Cloud State University therepository at St. Cloud State Economics Faculty Working Papers Department of Economics 2013 Remittances and the Dutch Disease: Evidence from Cointegration and Error-Correction
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 informationAbdurohman Ali Hussien,,et.al.,Int. J. Eco. Res., 2012, v3i3, 44-51
THE IMPACT OF TRADE LIBERALIZATION ON TRADE SHARE AND PER CAPITA GDP: EVIDENCE FROM SUB SAHARAN AFRICA Abdurohman Ali Hussien, Terrasserne 14, 2-256, Brønshøj 2700; Denmark ; abdurohman.ali.hussien@gmail.com
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 informationExports, Education, and Growth in Malaysia
Exports, Education, and Growth in Malaysia Mohammed B. Yusoff International Islamic University Malaysia E-mail: mohammed.yusoff@iiu.edu.my Abstract This paper examines the causal link between exports and
More informationThe political economy of publicly provided private goods
Journal of Public Economics 73 (1999) 31 54 The olitical economy of ublicly rovided rivate goods Soren Blomquist *, Vidar Christiansen a, b a Deartment of Economics, Usala University, Box 513, SE-751 0
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 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 informationEnergy consumption and Economic Growth Nexus in the Baltic Countries: Causality Approach
Volume VII Number 4 December 2014 Energ consumtion and Economic Growth Nexus in the Baltic Countries: Causalit Aroach Gitana Dudzevičiūtė 1, Rima Tamošiūnienė 2 Abstract. The relationshi between energ
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 informationMohammad Abul Kashem, Joint Director (JD), Monetary Policy Department (MPD) Bangladesh Bank, (The Central Bank of Bangladesh), Dhaka 1000.
Do Exchange rate changes have symmetric or asymmetric effects on the remittance flow of Bangladesh from Saudi Arabia? Evidence from Time Series data from 1990 to 2016. Mohammad Abul Kashem, Joint Director
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 informationCorruption and Foreign Aid Nexus in the African Continent: An Empirical Analysis for Nigeria
Journal of Economics and Sustainable Develoment ISSN 2222-1700 (Paer) ISSN 2222-2855 (Online) Corrution and Foreign Aid Nexus in the African Continent: An Emirical Analysis for Nigeria DAUD A. MUSTAFA,
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 informationCentralized and decentralized of provision of public goods
Discussion Paer No. 41 Centralized and decentralized of rovision of ublic goods Janos Feidler* Klaas Staal** July 008 *Janos Feidler, University Bonn **Klaas Staal, University Bonn and IIW, Lennestr. 37,
More informationImpact of Remittance on Enrollment and Health Care: The Case of Bangladesh
World Review of Business Research Vol. 8. No. 2. June 208 Issue. Pp. 56 66 Impact of Remittance on Enrollment and Health Care: The Case of Bangladesh Foqoruddin Al Kabir, Farhan Khan 2 and Sakib B. Amin
More informationInefficient Lobbying, Populism and Oligarchy
Public Disclosure Authorized Inefficient Lobbying, Poulism and Oligarchy Public Disclosure Authorized Public Disclosure Authorized Filie R. Camante and Francisco H. G. Ferreira February 18, 2004 Abstract
More informationAn Examination of the Effect of Migrant Remittances on Human Capital Development & Agricultural Productivity in Nigeria: An ARDL Approach
International Journal of Scientific Research and Management (IJSRM) Volume 5 Issue 11 Pages 7518-7528 2017 Website: www.ijsrm.in ISSN (e): 2321-3418 Index Copernicus value (2015): 57.47 DOI: 10.18535/ijsrm/v5i11.22
More informationInefficient lobbying, populism and oligarchy
Inefficient lobbying, oulism and oligarchy The Harvard community has made this article oenly available. Please share how this access benefits you. Your story matters Citation Camante, Filie R., and Francisco
More informationRemittances and economic growth: Empirical evidence from Nigeria and Sri Lanka
Basic Research Journal of Education Research and Review ISSN 2315-6872 Vol. 4(5) pp. 91-97 July 2015 Available online http//www.basicresearchjournals.org Copyright 2015 Basic Research Journal Full Length
More informationImmigration and Economic Growth in Jordan: FMOLS Approach
International Journal of Humanities Social Sciences and Education (IJHSSE) Volume 1, Issue 9, September 2014, PP 85-92 ISSN 2349-0373 (Print) & ISSN 2349-0381 (Online) www.arcjournals.org Immigration and
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 informationInternational Productivity Differences and the Roles of Domestic Investment, FDI and Trade
International Economic Journal Vol. 23, No. 1, 121 142, March 2009 International Productivity Differences and the Roles of Domestic Investment, FDI and Trade GOURANGA G. DAS, HIRANYA K. NATH & HALIS MURAT
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 informationAn Empirical Trade Intensity Analysis of South Africa - BRIC Economic Relations
An Empirical Trade Intensity Analysis of South Africa - BRIC Economic Relations Maxwell Ekor 1 Jimoh Saka 2 Oluwatosin Adeniyi 3 1.Preston Consults, Abuja, Nigeria 2.Department of Economics, Lagos State
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 informationRegional Variations in Per Capita Incomes among a Group of Developing Asian Economies: Role of FDI, Infrastructures and Human Capital
Regional Variations in Per Capita Incomes among a Group of Developing Asian Economies: Role of FDI, Infrastructures and Human Capital Abstract: The study examines what explains the variances of regional
More informationDISCUSSION PAPER SERIES. Schooling Forsaken: Education and Migration. IZA DP No Ilhom Abdulloev Gil S. Epstein Ira N. Gang
DISCUSSION PAPER SERIES IZA DP No. 12088 Schooling Forsaken: Education and Migration Ilhom Abdulloev Gil S. Estein Ira N. Gang JANUARY 2019 DISCUSSION PAPER SERIES IZA DP No. 12088 Schooling Forsaken:
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 informationRethinking the Brain Drain
Deartment of Economics Discussion Paer 003-04 Rethining the Brain Drain Oded Star, University of Bonn; University of Vienna; and ESCE Economic and Social Research Center, Cologne and Eisenstadt May 003
More informationHow do migrants care for their elderly parents? Time, money, and location #
How do migrants care for their elderly arents? Time, money, and location # François-Charles Wolff * and Ralitza Dimova ** November 2005 Abstract: Using a rich data set on immigrants living in France, we
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 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 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 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 informationA VAR Analysis of FDI and Wages: The Romania s Case
A VAR Analysis of FDI and Wages: The Romania s Case Mihai Mutascu and Anne-Marie Fleischer 1 West University of Timisoara Abstract According to Lall (1997), the FDI are strongly interconnected with a series
More informationGlobalization And Economic Growth in Nigeria: A Cointegration Approach
Journal of International Business and Economics June 7, Vol., No., pp. - ISSN: 7-8(Print), 7-9(Online) Copyright The Author(s). All Rights Reserved. Published by American Research Institute for Policy
More informationTHE IMPACT OF REMITTANCES ON ECONOMIC GROWTH IN ETHIOPIA
THE IMPACT OF REMITTANCES ON ECONOMIC GROWTH IN ETHIOPIA Tassew Dufera Tolcha, Lecturer, Department of Economics, Hawassa University, Hawassa, Ethiopia. Dr. P. Nandeeswar Rao, Assistant Professor Department
More informationLecture 7: Decentralization. Political economy of decentralization is a hot topic. This is due to a variety of policiy initiatives all over the world
Lecture 7: Decentralization Political economy of decentralization is a hot toic This is due to a variety of oliciy initiatives all over the world There are a number of reasons suggested for referring a
More informationEconomic Freedom and Unemployment in Emerging Market Economies
(Volume 11, Issue 1/ 2016 ), pp.5 Economic Freedom and Unemployment in Emerging Market Economies Yilmaz Bayar 1+ 1 Usak University, Turkey Abstract. Economic freedom has also increased in parallel with
More informationGlobalization and the Malaysian Labor Market: An Empirical Investigation. Selamah Abdullah Yusof 1
Journal of Economic Cooperation and Development, 31, 1 (2010), 17-40 Globalization and the Malaysian Labor Market: An Empirical Investigation Selamah Abdullah Yusof 1 Theories have been put forth on the
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 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 informationForeign Aid and Economic Growth: Panel Cointegration Analysis for Cambodia, Lao PDR, Myanmar, and Vietnam
Athens Journal of Business & Economics - Volume 2, Issue 4 Pages 417-428 Foreign Aid and Economic Growth: Panel Cointegration Analysis for Cambodia, Lao PDR, Myanmar, and Vietnam By Pahlaj Moolio Somphyvatanak
More informationRegional Variations in Per Capita Incomes among a Group of Developing Asian Economies: Role of FDI, Infrastructures and Human Capital
Regional Variations in Per Capita Incomes among a Group of Developing Asian Economies: Role of FDI, Infrastructures and Human Capital Hrushikesh Mallick 1 Abstract: The study examines what explains the
More informationEstimating the Cyclicality of Remittance Flows to Jamaica from the USA
Estimating the Cyclicality of Remittance Flows to Jamaica from the USA Kirsten Roach 1 International Economics Department Research and Economic Programming Division Bank of Jamaica Abstract This study
More informationImpact of Terrorism on Investment: Evidence from Pakistan. Hafiz Muhammad Abubakar Siddique Federal Urdu University Islamabad, Pakistan.
Impact of Terrorism on Investment: Evidence from Pakistan Hafiz Muhammad Abubakar Siddique Federal Urdu University Islamabad, Pakistan. Rabia Liaqat Quaid-i-Azam University Islamabad, Pakistan. Kaleem
More informationSpectrum: Retrieving Different Points of View from the Blogosphere
Sectrum: Retrieving Different Points of View from the Blogoshere Jiahui Liu, Larry Birnbaum, and Bryan Pardo Northwestern University Intelligent Information Laboratory 2133 Sheridan Road, Evanston, IL,
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 informationREMITTANCE INFLOW AND GDP GROWTH: EVIDENCE FROM BANGLADESH, INDIA AND PAKISTAN
Asian Economic and Financial Review ISSN(e): 2222-6737 ISSN(p): 2305-2147 DOI: 10.18488/journal.aefr.2018.811.1340.1353 Vol. 8, No. 11, 1340-1353 URL: www.aessweb.com REMITTANCE INFLOW AND GDP GROWTH:
More informationA CAUSALITY BETWEEN CAPITAL FLIGHT AND ECONOMIC GROWTH: A CASE STUDY INDONESIA
A CAUSALITY BETWEEN CAPITAL FLIGHT AND ECONOMIC GROWTH: A CASE STUDY INDONESIA Setyo Tri Wahyudi Department of Economics-Brawijaya University INDONESIA setyo.tw@ub.ac.id; setyo_triwahyudi@yahoo.com Ghozali
More informationForeign Aid and Economic Growth Nexus: A comparative study of Pakistan with four SAARC countries
Journal of the Research Society of Pakistan Volume No. 55, Issue No. 1(January - June, 2018) Aakif Hussain * Muhammad Tariq ** Fazli Qadir *** Imran Ullah Saeed **** Foreign Aid and Economic Growth Nexus:
More informationDiversionary Incentives and the Bargaining Approach to War
International Studies Quarterly (26) 5, 69 88 Diversionary Incentives and the Bargaining Aroach to War AHMERTARAR Texas A&M University I use a game theoretic model of diversionary war incentives to hel
More informationThe Democracy and Economic Growth Nexus: Empirical Evidence from Côte d Ivoire
The European Journal of Comparative Economics Vol. 11, n. 2, pp. 251-266 ISSN 1824-2979 The Democracy and Economic Growth Nexus: Empirical Evidence from Côte d Ivoire Abstract Wadjamsse B. Djezou 1 This
More informationNEW CANDIDATES FOR THE EURO AREA? SIMILARITY OF SUPPLY AND DEMAND SHOCKS IN THE NON-EURO AREA COUNTRIES Stanislav Kappel 1
NEW CANDIDATES FOR THE EURO AREA? SIMILARITY OF SUPPLY AND DEMAND SHOCKS IN THE NON-EURO AREA COUNTRIES Stanislav Kappel 1 1 VSB-Technical Univesity of Ostrava, Faculty of Economics, Sokolská 33, 701 21
More informationECON 1000 Contemporary Economic Issues (Summer 2018) Government Failure
ECON 1 Contemorary Economic Issues (Summer 218) Government Failure Relevant Readings from the Required extbooks: Chater 11, Government Failure Definitions and Concets: government failure a situation in
More informationWorking Paper No. 2012/07 Impact of Foreign Aid on Economic Growth in Sierra Leone Empirical Analysis Philip Michael Kargbo*
Working Paper No. 2012/07 Impact of Foreign Aid on Economic Growth in Sierra Leone Empirical Analysis Philip Michael Kargbo* January 2012 Abstract This paper examines the impact of foreign aid on economic
More informationCAUSAL LINK BETWEEN MILITARY EXPENDITURE AND GDP-A STUDY OF SELECTED COUNTRIES
International Journal of Development and Conflict 5(2015) 114 126 CAUSAL LINK BETWEEN MILITARY EXPENDITURE AND GDP-A STUDY OF SELECTED COUNTRIES RAMESH CHANDRA DAS* Economics, Katwa College, Burdwan, West
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 informationTourism, Economic Growth and Monetary Policy in Jamaica
Tourism, Economic Growth and Monetary Policy in Jamaica Abstract The study examines the causal relationships among economic growth, tourism expansion and the real exchange rates in Jamaica over the period
More informationDEPARTMENT OF ECONOMICS YALE UNIVERSITY P.O. Box New Haven, CT
DEPARTMENT OF ECONOMICS YALE UNIVERSITY P.O. Box 208268 New Haven, CT 06520-8268 http://www.econ.yale.edu/ Economics Department Working Paper No. 51 Remittances and Growth in Latin America: A Panel Unit
More informationInvestigating the Long-Run and Causal Relationship between GDP and Crime in Sweden
Investigating the Long-Run and Causal Relationship between GDP and Crime in Sweden Anna Guðrún Ragnarsdóttir Department of Economics Master s Thesis May 2014 Supervisor: Pontus Hansson Abstract Crime is
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 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 informationWorkers Remittance Inflow, Financial Development and Economic Growth: A Study on Bangladesh
International Journal of Economics and Finance; Vol. 6, No. 8; 2014 ISSN 1916-971X E-ISSN 1916-9728 Published by Canadian Center of Science and Education Workers Remittance Inflow, Financial Development
More information