24 articles in this issue
Abiola A. Babajide,Folasade B. Adegboye,Alexander E. Omankhanlen
Financial development is not simply a result of economic growth; it is also the driver of economic growth. Financial inclusion (FI), a feature offi nancial development, is a process that marks improvement in quantity, quality, and effi ciency of fi nancia... see more
Trust Kganyago,Victor Gumbo
The research examines the long run relationship between money market interest rates and stock market returns in Zimbabwe from April 2009 to December 2013. The estimation model controls for Money supply growth rate, Inflation, Volume of Manufacturing Index... see more
Anselm Komla Abotsi
The study finds the impact of the percentage of total annual sales of a firm paid as informal payments to public officials (bribes) on foreign ownership of firms in Africa while controlling for other variables outside the country of origin of investment.&... see more
Burhan Kabadayi,Ahmet Alkan Çelik
The aim of this paper is to study determinants of sovereign ratings of emerging countries. The effects of macroeconomic and political variables on the ratings are analyzed by probit and logit panel data analysis. This empirical research determines whether... see more
Anthony Orji,Jonathan E. Ogbuabor,Onyinye I. Anthony-Orji
The liberalization thesis has generated a lot of debate in theoretical and empirical literature. In this paper we construct an index of financial liberalization from 1981 to 2012 to investigate its impact on economic growth in Nigeria using the McKinnon-S... see more
Nuno Carlos Leitão
This article considers the determinants of Portuguese tourism demand for the period 2004-2013. The econometric methodology uses a panel unit root test and the dynamic panel data (GMM-system estimator). The different techniques of panel unit root (Levin, L... see more
Chung-Fu Lai,Shan-Kai Tsai
In this study, we incorporate diversified currency holdings into the New Open Economy Macroeconomics (NOEM) model to explore the issue of exchange rates dynamics. The findings show that exchange rate overshooting occurs when diversified currency holdings ... see more
Steven Buigut
To tame the hyperinflation experienced in the country, Zimbabwe adopted a relatively unique solution by implementing a multi-currency system in January 2009. Five foreign currencies were granted official status. However, this arrangement is viewed as a te... see more
Cuneyt Dumrul,Yasemin Dumrul
The inflation targeting (IT) strategy may create structural changes in macroeconomic variables. This study analyzes the effect of the IT strategy on the price-money supply relationship in Turkey and Brazil by Kejriwal-Perron cointegration analysis with st... see more
Sunila Jabeen,Farzana Shaheen,Azad Haider
State Bank of Pakistan (SBP) has mandate of price stability along with output growth. However, inflation deviation from the announced target is common. Employing impulse response functions and variance decomposition, over the period, 1991Q1-2007Q4,this pa... see more
Abdulkadir Abdulrashid Rafindadi
Several pioneering studies have established that the period of exchange rate misalignment is characterized by currency appreciation and depreciation. These studies conclusively assert that if currency overvaluation occurs beyond a minimum threshold it can... see more
Georgeta Vintila,Elena Alexandra Nenu
The purpose of this paper is to investigate potential factors of influence on corporate financial performance. The analysis was conducted on Romania's case and included a sample of 46 companies listed on the Bucharest Stock Exchange, within 2009-2013 peri... see more
Chaido Dritsaki
Recent econometric procedures are employed in this paper to investigate the behavioral properties of Athens Stock Exchange (ASE) indices. The results of serial correlation showed that the hypothesis of weak - form efficiency of Athens Stock Exchange shoul... see more
Greg Ekpung Edame,Okoiarikpo Benjamin Okoi
The recent criticism of poor fiscal performance levelled against the democratic regimes in Nigeria has resulted in questions being asked as to the soundness of the acclaim which heralded its advent. Such questions generally focus on the growth impacts of ... see more
Haytem Ahmed Troug,Rashid Sbia
This paper aims at providing empirical support to claims made by officials in oil-producing countries that investors in the New York Stock Exchange market are involved in the disruption of oil production in some OPEC countries. The claims state that some ... see more
Ady Soejoto,Waspodo Tjipto Subroto,Y. Suyanto
Goal of this research is promoting human development in Indonesia through fiscal decentralization. In general, funds decentralization, economic growth, public expenditure, and a decline in total poor population in the autonomous region provide significant... see more
In our paper, we examined the relationship between non-performing loans, as a measure of stability, and concentration, as a measure of competition, in the Libyan banking sector. We used aggregate quarterly data for the 15 commercial banks in the country d... see more
khalifa Hassanain
SDR valuation is done in terms of currency amounts of the four international reserve currencies, namely the US dollar, the euro, the Japanese yen and the pound sterling. Currencies included in the SDR calculations are determined on the basis of the value ... see more
Sakiru Adebola Solarin,Olabisi Olabode Eric
Investment in human capital in relation to global world is to achieve an optimum return in terms of a gainful employment, productivity and high standard of living. This paper uses Autoregressive Distributed Lag (ARDL) model to determine the cointegration,... see more
Brooke Alexandra Maeda
This paper explores the existence of the flight-to-liquidity phenomenon for shares which are traded on the Tokyo Stock Exchange during share market crashes. Using data from the First section of the Tokyo Stock Exchange, the existence of a flight-to-liquid... see more
Khalid Zaman
The major contribution of this study is to access number of income and non-income welfare indicators i.e., human development indicators (comprises primary school enrollment, secondary school enrollment, education expenditures, literacy rate, life expectan... see more
Cosimo Magazzino,Lorenzo Giolli,Marco Mele
Wagner’s Law is the first model of public expenditure in the history of public finance. It suggests that during the process of economic development the share of public spending in national income tends to expand (Wagner, 1883). Nevertheless, Peacock and S... see more
Stefan Reppen
For African countries to develop and reduce poverty, it is necessary to create productive jobs and industrialise – which can happen through the light manufacturing sector. For such firms to grow, however, a good business environment is necessary. Thus, th... see more
Elena Evgenievna Smirnova
This article examines the problems of the defining investment activity of natural persons in the Russian Federation and in the world community and provides offers on its stimulation. In modern Russia, much attention is paid to the taxation policy in the l... see more