Research in Globalization最新文献

India’s higher education sector faces significant challenges in attracting international students, evidenced by hosting less than 1 % of globally mobile students despite substantial efforts to increase this number. This study explores critical barriers preventing international students from choosing India as their destination, including financial constraints, safety concerns, and cultural integration issues. It also assesses the impact of the COVID-19 pandemic on these decisions and examines the potential of online education as an alternative. Findings reveal that inadequate financial support and safety concerns are primary deterrents, with varying impacts across educational levels and regions. Recommendations include enhancing financial aid, improving safety measures, fostering cultural integration, and leveraging online education. Addressing these issues is crucial for India to align with global education trends and improve its international appeal.

The study examines the joint effect of foreign direct investment (FDI) and financial inclusion on economic wealth in a digital system. By employing the dynamic system GMM for a dataset of 54 African economies over the period, 2004–2022, both the FDI and the dimensions of financial inclusion have a positive effect on economic wealth. We also find that FDI and financial inclusion are complements in determining economic wealth. We provide evidence that a digital system induces a relatively greater effect of FDI and financial inclusion on economic wealth compared to its direct effect. The study found that financial inclusion relatively enhances the effect of FDI on economic wealth in countries that operate in a highly industrialized sector of the economy compared to those in a low industrialized economy. In addition, the complementarity effects are more profound in a digitalized technological environment compared to those with less focus on digitalization.

The main objective of this study is to evaluate how globalization and financial development contributed to Sudan’s economic growth using data from 1978 to 2021 by applying the autoregressive distributed lag (ARDL) model. Furthermore, a model to calculate total factor productivity and the contributions of the underlying variables is being developed. The findings from ARDL indicate that globalization and capital display positive and beneficial impacts on Sudan’s economic growth in the long run, implying that an increase of one percentage point in Sudan’s globalization index will, over time, boost economic growth by 1.50408 % and 0.156301 %. Government spending as a control variable was found to influence economic growth positively. Financial development shows a detrimental effect on growth in Sudan. The average productivity growth rate is negative, regardless of the positive contributions of globalization and financial development. This outcome suggests that globalization and capital have been gainful to Sudan’s economy. Therefore, this study advocates that capital accumulation triggers investment, encouraging more global market openness making it easier to access international markets, setting up a strong and sophisticated financial system to assist Sudan’s economic development, and enhancing Sudan’s spending policy to support the productive sectors and encourage domestic production will significantly stimulate economic growth post-war, taking into account additional measures, such as regulations, investment laws, institutional quality, the integration of the banking system, and identifying expenditure prioritizations.

Climate crisis continue to animate environmental policy debate and remains a fundamental global concern. While natural resources use and industrialization are main drivers of climate change especially in developing countries like Africa, previous empirical studies have failed to analyze the simultaneous effect of both on climate change. To close this gap, the current study investigates the relationship between natural resources use, industrialization and climate change in Africa. Specifically, this study analyzes the effect of natural resources rents and value added in manufacturing on carbon dioxide emissions. Addressing these issues is important, as the implications of natural resources extraction and industrial development on environmental sustainability cannot be underestimated. This paper is very relevant because of the limited research on comprehensive frameworks that integrate natural resources use with industrialization policies specific to Africa. Using data from 2005 to 2022 for 45 African countries obtained from the African Infrastructural and World Bank databases, and employing the Cross-Sectional Feasible Generalized Least Squares, Driscoll-Kraay effects, Dynamic Driscoll-Kraay effects and Panel Quantile on Quantile regression techniques, the empirical findings revealed that natural resources rents and industrialization adversely contribute to climate change in Africa. Quantitative results show that a 1% increase in natural resource rents increased carbon dioxide emissions by 0.000103% for both Feasible Generalized Least Squares and Driscoll-Kraay estimates and by 0.00813% for the Dynamic Driscoll-Kraay estimates. Furthermore, a 1% increase in value added in manufacturing led to a 0.377% increase in carbon dioxide emissions for both Feasible Generalized Least Squares and Driscoll-Kraay estimates and a 0.157% increase for Dynamic Driscoll-Kraay estimates. The result also shows that the effect of natural resource extraction and industrialization on climate change become negative at both the 25% quantile and 50% quantile. However, this turning point becomes nullified at the 75% and at 90% quantiles. Africa should adopt a green path to natural resource use and industrialization.

Considering the potential role of environmental institutions in abating environmental pollution, this study deviates from previous studies by assessing how policy and institutions for environmental sustainability (PIES) mitigate the adverse effects of aggregate and disaggregated trade on the environment in Sub-Saharan Africa (SSA). Using Driscoll and Kraay method, generalized method of moments, and Dumitrescu and Hurlin causality test on data from 2005 to 2020 for 24 SSA countries, the results show that the adverse effects of overall and disaggregated trade on environmental degradation significantly reduces in the presence of PIES. The causal analysis revealed a bidirectional relationship between total trade, exports, imports, and environmental degradation. The study concludes that international trade cannot guarantee environmental sustainability in light of the 2030 SDGs without effective PIES. Therefore, the study calls for the strengthening of PIES to ensure environmental sustainability even as SSA countries move to deepen intra and inter-continental trade within the context of the African Continental Free Trade Area Agreement (AFCFTA).

This study examines the long-run volatility between forex and stock markets and the role of financial globalization in this relationship in Africa, during the COVID-19 pandemic period, using panel Fully Modified Ordinary Least Squares (FMOLS) and panel Dynamic Ordinary Least Squares (DOLS) approaches. Our empirical outcomes revealed bi-directional long-run volatility between the two financial markets in the COVID-19 pandemic period. The results further established that, financial globalization reduces forex markets’ volatility effects on stock markets’ volatility, whilst it heightens stock markets’ volatility effects on forex markets’ volatility in Africa, during the COVID-19 pandemic period. The implications of this study, include the need to harness the stabilising potential of financial globalization in the long-run volatility between forex and stock markets, primarily through asset diversification, enhanced information flow, and market efficiency in African financial markets.

Over the past decade, climate variabilities have emerged as shaping the dynamics of international trade. The adverse externalities posed by climate change require a corresponding improvement in the production of food, trade and the adoption of abundant renewable energy resources. Our study focused on evaluating the impact of renewable energy transition on international trade flows in Ghana. We employed the dynamics ARDL simulation model to analyse our results using data from various institutions. We found that energy transition using both low carbon energy and renewable energy in electricity generation by 1% and 5% significantly increases the balance of trade to the 4th year after which energy transition decreases the balance of trade to the 9th year. After the 9th year, energy transition by both percentages increases the trade balance of Ghana. We observe that the energy transition by 5% has a higher impact than the energy transition by 1%. Additionally, it is observed that using the share of renewable energy in electricity generation has a decreasing rate relative to the first four years. Drafting renewable energy plans such as allocation of funds, supportive policy frameworks and incentives such as green financing, subsidies, and tax incentives can enhance and develop renewable energy infrastructure to increase renewable energy efficiency and reliability for international trade.

Purpose

This study investigates the impact of control of corruption (COC) on nonperforming loans (NPLs) in South Asian countries.

Methodology

The present study selected three South Asian countries (Pakistan, India, and Bangladesh) from 2000 to 2019. Further, the current research employed the fixed effect model (FEM) analysis on a sample of 81 conventional banks based in South Asian countries.

Findings

The result reveals that control of corruption has a significant and negative association with NPLs, indicating that weak control of corruption would lead to an increase in NPLs in the sample countries.

Implications

The findings provide insights to the policymakers in making strategic decisions about NPLs regarding control of corruption impact.

Originality

The significant increase in NPLs is worrying as it may undermine banks’ ability to grant credit and support a country’s economic recovery. The increasing trend of NPL rates and limited studies in related literature assessing NPLs in the South Asian region has motivated this study, which examines the external and internal factors that may influence NPLs

In this introduction to the themed issue “Diaspora Direct Investment,” we firstly provide a review of the relevant extant literature followed by a discussion on determinants and policy implications. Next, we summarize the six papers included in this special issue. The topics that are touched upon are remittances, foreign direct investment and ecological footprint, diaspora direct investment, interest rate environments, multinational enterprises and their effects on poverty, and diaspora engagement. As a relatively new topic in international investment, the selected papers provide novel contributions to the broad theme and focus on under-researched areas of international investment determinants. Our review of the literature provides a brief overview of past studies on diaspora investment (including direct investment) and the conclusions derived therefrom. We conclude by suggesting research gaps to be filled by future studies on diaspora direct investment.