Pub Date : 2022-01-01DOI: 10.1177/09749101211070952
N. Madinga, E. Maziriri, T. Chuchu, Zinzi Magoda
Over the years, academics have paid a lot of attention to the topic of financial literacy. As a result, the current study investigates this topic using a unique conceptual model that was created expressly to investigate the study’s claimed linkages. Three hundred eighty four people took part in the study using a web-based self-administered questionnaire. The data was analysed using Partial Least Square Structural Equation Modelling (PLS-SEM). The outcomes of this study demonstrate that those who are more willing to take chances are more likely to be content with their financial situation. Improving financial literacy and socializing has a direct impact on financial happiness. Furthermore, financial risk attitude positively facilitates the association of a customer’s monetary education and gratification associated with education. In addition, financial risk attitude positively intercedes the association of financial socialization and monetary gratification. Financial satisfaction is observed to be of paramount importance for customers, company as well as the government. The findings of this article promote the successful delivery of financial services to established target groups, followed by recommendations for the provision of financial literacy for individuals. Furthermore, the outcomes of this research have led the way for the discovery of insights potentially useful for public policy development.
{"title":"An Investigation of the Impact of Financial Literacy and Financial Socialization on Financial Satisfaction: Mediating Role of Financial Risk Attitude","authors":"N. Madinga, E. Maziriri, T. Chuchu, Zinzi Magoda","doi":"10.1177/09749101211070952","DOIUrl":"https://doi.org/10.1177/09749101211070952","url":null,"abstract":"Over the years, academics have paid a lot of attention to the topic of financial literacy. As a result, the current study investigates this topic using a unique conceptual model that was created expressly to investigate the study’s claimed linkages. Three hundred eighty four people took part in the study using a web-based self-administered questionnaire. The data was analysed using Partial Least Square Structural Equation Modelling (PLS-SEM). The outcomes of this study demonstrate that those who are more willing to take chances are more likely to be content with their financial situation. Improving financial literacy and socializing has a direct impact on financial happiness. Furthermore, financial risk attitude positively facilitates the association of a customer’s monetary education and gratification associated with education. In addition, financial risk attitude positively intercedes the association of financial socialization and monetary gratification. Financial satisfaction is observed to be of paramount importance for customers, company as well as the government. The findings of this article promote the successful delivery of financial services to established target groups, followed by recommendations for the provision of financial literacy for individuals. Furthermore, the outcomes of this research have led the way for the discovery of insights potentially useful for public policy development.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"60 - 75"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48275063","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1177/09749101211067094
L. Amusan, V. Okorie
The advent of COVID-19 has reconfigured foodscape across the globe, BRICS inclusive. Some of the familiar sites where people in BRICS found food in pre-pandemic period has become increasingly threatened while many have completely disappeared, leaving behind dark food deserts. Information on the extent of the devastation caused by the pandemic is still emerging. Such information is pivotal to the articulation of affirmative programs and policies. This article, therefore, explores the impact of the pandemic on food systems of BRICS to indicate how the alliance may positively influence the repositioning of each country member’s foodscape to achieve food security both now and beyond this pandemic. This article uses content analysis of relevant documents and draws from functionalist’s perspective to outline various impacts of the pandemic on food systems. It argues that creating enabling environment for labor, making food security a common goal of BRICS as a body as well as putting in place mechanisms supporting local food systems will invariably ensure food security across various levels in BRICS.
{"title":"Impacts of COVID-19 Regime on Labor Within Food Systems: Whither BRICS Now and Beyond?","authors":"L. Amusan, V. Okorie","doi":"10.1177/09749101211067094","DOIUrl":"https://doi.org/10.1177/09749101211067094","url":null,"abstract":"The advent of COVID-19 has reconfigured foodscape across the globe, BRICS inclusive. Some of the familiar sites where people in BRICS found food in pre-pandemic period has become increasingly threatened while many have completely disappeared, leaving behind dark food deserts. Information on the extent of the devastation caused by the pandemic is still emerging. Such information is pivotal to the articulation of affirmative programs and policies. This article, therefore, explores the impact of the pandemic on food systems of BRICS to indicate how the alliance may positively influence the repositioning of each country member’s foodscape to achieve food security both now and beyond this pandemic. This article uses content analysis of relevant documents and draws from functionalist’s perspective to outline various impacts of the pandemic on food systems. It argues that creating enabling environment for labor, making food security a common goal of BRICS as a body as well as putting in place mechanisms supporting local food systems will invariably ensure food security across various levels in BRICS.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"32 - 42"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44910761","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1177/09749101211070954
Kerry Liu
The Chinese bond market is the world’s second largest, with government bonds accounting for the majority of the market. The Chinese government has been gradually opening up its bond markets to foreign investors since 2015. However, studies on the Chinese bond markets are very few. Based on data of most frequently traded government bonds in 2015 and 2019, statistical tests including Ken-tau tests and variance ratio tests show that while Chinese government bond markets were generally not efficient in 2015, the efficiency has significantly improved in 2019. The change of market efficiency is likely from the increasing foreign investments, thus a more diverse investor base of the Chinese government bonds. Some structural issues remain such as immature derivative market, low marketization of commercial banks, and restrictions to foreign investors. Finally, this study discusses the implications for investors, policymakers and academics.
{"title":"The Chinese Government Bond Markets: Foreign Investments and Market Efficiency","authors":"Kerry Liu","doi":"10.1177/09749101211070954","DOIUrl":"https://doi.org/10.1177/09749101211070954","url":null,"abstract":"The Chinese bond market is the world’s second largest, with government bonds accounting for the majority of the market. The Chinese government has been gradually opening up its bond markets to foreign investors since 2015. However, studies on the Chinese bond markets are very few. Based on data of most frequently traded government bonds in 2015 and 2019, statistical tests including Ken-tau tests and variance ratio tests show that while Chinese government bond markets were generally not efficient in 2015, the efficiency has significantly improved in 2019. The change of market efficiency is likely from the increasing foreign investments, thus a more diverse investor base of the Chinese government bonds. Some structural issues remain such as immature derivative market, low marketization of commercial banks, and restrictions to foreign investors. Finally, this study discusses the implications for investors, policymakers and academics.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"93 - 104"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48155370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1177/09749101211067091
Arup Kumar Chattopadhyay, Debdas Rakshit, P. Chatterjee, Ananya Paul
Foreign direct investment (FDI) movement to any country is recognized as an important criterion for economic strength and potentiality. Hence, the present study analyzes the motives of FDI inflows through the determinants and channels, namely horizontal or vertical FDIs and the impact of COVID-19 on FDI Inflows in BRICS countries during the period 1990–2020. The Kinked Exponential (deterministic) trend, and Zivot and Andrew’s trend equations are applied for the growth analysis of FDI inflows. Regarding the estimation of channels of FDI inflows in terms of horizontal, vertical, and hybrid motivations, dynamic panel data analysis using GMM for BRICS economies together and ARDL-PMG for individual countries is made. The findings show significantly positive growth in FDI inflows in all BRICS countries except India during the first decade of the present century. After that, these countries have experienced either significantly or insignificantly declining trends, except India, where the trend has significantly increased during this later period. From the overall analysis, we see that both horizontal and vertical motivations play a dominant role in determining FDI inflows for the BRICS countries. However, from country-wise estimations, it is observed that both horizontal and vertical motives are dominant factors for FDI inflows to India and Russia. In contrast, the horizontal motive of it is significant for China. For Brazil and South Africa, no motive behind FDI inflows appears significant. The pandemic situation significantly impacts attracting FDI in Brazil, while it remains insensitive in the rest of the BRICS countries. The findings reveal that FDI determinants are country-specific. So, the BRICS countries can design proper FDI policy and adopt more reforms in attracting FDI that may help improve their economic situation.
{"title":"Trends and Determinants of FDI with Implications of COVID-19 in BRICS","authors":"Arup Kumar Chattopadhyay, Debdas Rakshit, P. Chatterjee, Ananya Paul","doi":"10.1177/09749101211067091","DOIUrl":"https://doi.org/10.1177/09749101211067091","url":null,"abstract":"Foreign direct investment (FDI) movement to any country is recognized as an important criterion for economic strength and potentiality. Hence, the present study analyzes the motives of FDI inflows through the determinants and channels, namely horizontal or vertical FDIs and the impact of COVID-19 on FDI Inflows in BRICS countries during the period 1990–2020. The Kinked Exponential (deterministic) trend, and Zivot and Andrew’s trend equations are applied for the growth analysis of FDI inflows. Regarding the estimation of channels of FDI inflows in terms of horizontal, vertical, and hybrid motivations, dynamic panel data analysis using GMM for BRICS economies together and ARDL-PMG for individual countries is made. The findings show significantly positive growth in FDI inflows in all BRICS countries except India during the first decade of the present century. After that, these countries have experienced either significantly or insignificantly declining trends, except India, where the trend has significantly increased during this later period. From the overall analysis, we see that both horizontal and vertical motivations play a dominant role in determining FDI inflows for the BRICS countries. However, from country-wise estimations, it is observed that both horizontal and vertical motives are dominant factors for FDI inflows to India and Russia. In contrast, the horizontal motive of it is significant for China. For Brazil and South Africa, no motive behind FDI inflows appears significant. The pandemic situation significantly impacts attracting FDI in Brazil, while it remains insensitive in the rest of the BRICS countries. The findings reveal that FDI determinants are country-specific. So, the BRICS countries can design proper FDI policy and adopt more reforms in attracting FDI that may help improve their economic situation.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"43 - 59"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43422226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1177/09749101211067092
Özge Barış-Tüzemen, Samet Tüzemen
The relationship between foreign direct investment and carbon emissions in the BRICS (Brazil, Russian Federation, India, China, and South Africa) countries for 1992–2017 is investigated in this study. Biomass energy consumption and per capita income variables are also added to the model as additional determinants of pollution. To test the pollution haven hypothesis, panel fixed-effects and random-effects models are employed. The findings show that an N-shaped association exists between foreign direct investment and CO2 in BRICS countries. In addition, the empirical results also suggest that there is both an inverted-U and an inverted-N-shaped connection between income and pollution. Finally, the quadratic fixed-effects model results imply that biomass energy consumption has significant contribution to environmental degradation in these countries. When the results are interpreted, BRICS countries are suggested to provide more incentives to renewable energy sources and accelerate the development of the green energy system to attract clean resources and prevent environmental degradation.
{"title":"The Impact of Foreign Direct Investment and Biomass Energy Consumption on Pollution in BRICS Countries: A Panel Data Analysis","authors":"Özge Barış-Tüzemen, Samet Tüzemen","doi":"10.1177/09749101211067092","DOIUrl":"https://doi.org/10.1177/09749101211067092","url":null,"abstract":"The relationship between foreign direct investment and carbon emissions in the BRICS (Brazil, Russian Federation, India, China, and South Africa) countries for 1992–2017 is investigated in this study. Biomass energy consumption and per capita income variables are also added to the model as additional determinants of pollution. To test the pollution haven hypothesis, panel fixed-effects and random-effects models are employed. The findings show that an N-shaped association exists between foreign direct investment and CO2 in BRICS countries. In addition, the empirical results also suggest that there is both an inverted-U and an inverted-N-shaped connection between income and pollution. Finally, the quadratic fixed-effects model results imply that biomass energy consumption has significant contribution to environmental degradation in these countries. When the results are interpreted, BRICS countries are suggested to provide more incentives to renewable energy sources and accelerate the development of the green energy system to attract clean resources and prevent environmental degradation.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"76 - 92"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48022612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-23DOI: 10.1177/09749101211061626
Natalia I. Doré, A. Teixeira
The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical literature related to growth, from 1991 to 2020. Five main results are worth highlighting: (a) the share of empirical articles on economic growth show a clear upward trend; (b) among all the groups of countries considered, the emerging economies (EEs) have received the most scientific attention; (c) the economic growth processes of the Latin American and Caribbean EEs have observed negligible scientific attention; (d) the very long-run studies comprise a residual share among the empirical literature on growth; (e) the extant empirical studies on economic growth have addressed mainly the impact of “macroeconomic conditions.” Our findings suggest there is a need to redirect the empirical growth agenda, so as to encourage more scientific attention devoted to the analysis of key determinants of economic growth in the very long run. There should also be increased scrutiny of the processes of economic growth in Latin American and Caribbean EEs
{"title":"Empirical Literature on Economic Growth, 1991–2020: Uncovering Extant Gaps and Avenues for Future Research","authors":"Natalia I. Doré, A. Teixeira","doi":"10.1177/09749101211061626","DOIUrl":"https://doi.org/10.1177/09749101211061626","url":null,"abstract":"The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical literature related to growth, from 1991 to 2020. Five main results are worth highlighting: (a) the share of empirical articles on economic growth show a clear upward trend; (b) among all the groups of countries considered, the emerging economies (EEs) have received the most scientific attention; (c) the economic growth processes of the Latin American and Caribbean EEs have observed negligible scientific attention; (d) the very long-run studies comprise a residual share among the empirical literature on growth; (e) the extant empirical studies on economic growth have addressed mainly the impact of “macroeconomic conditions.” Our findings suggest there is a need to redirect the empirical growth agenda, so as to encourage more scientific attention devoted to the analysis of key determinants of economic growth in the very long run. There should also be increased scrutiny of the processes of economic growth in Latin American and Caribbean EEs","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"15 1","pages":"7 - 37"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47046451","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-21DOI: 10.1177/09749101211067096
B. Iqbal
In 2001, when the term BRIC (Brazil, Russia, India, and China) was coined by Jim O'Neill, I came across a paper in a German journal. The title of the paper was “BRIC as a group of unequals.” Since then, there has been consistent growth and development in the BRICS group, and it has emerged as a force to reckon with. In December 2010, after South Africa joined the group, it became BRICS. The role and contribution of the BRICS is significant to the world economy in terms of population (40%), GDP (25% nominal and US$ 16.039 trillion), land coverage (30%), world trade (18%), and global forex (US$ 4 trillion). Since 2001 and till the end of 2010, the BRICS as a group worked on sectoral cooperation in many areas, namely—science and technology, trade promotion and facilitation, energy, health, education, innovation, and fight against transnational crime. Presently, sectoral cooperation accounts for more than 30 subject areas. These areas have brought in specific benefits to the population of the group of countries. In 2014, the 11th summit took place in Brazil and institutions of strategic and paramount significance were created such as New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). These have far reaching effects and implications for the global world in general and BRICS economies in particular. Both the initiatives are contributing significantly in the process of accelerating economic growth resulting in socioeconomic progress in the member countries. During the last five years, NDB has approved 70 infrastructure and sustainable development projects amounting to US$ 25.07 billion that also comprises loans given under NDB Emergency Assistance Facility among the member countries. Significantly, India has 18 projects amounting to US$ 6.9 billion. On December 20, 2020, the 12th Summit was held in Russia, wherein new dimensions were added namely—world stability, shared security, and innovative growth. These are the sine-quo-non for creating better, effective, and efficient global economic order (GEO) which is the need of the hour.
{"title":"BRICS as a Driver of Global Economic Growth and Development","authors":"B. Iqbal","doi":"10.1177/09749101211067096","DOIUrl":"https://doi.org/10.1177/09749101211067096","url":null,"abstract":"In 2001, when the term BRIC (Brazil, Russia, India, and China) was coined by Jim O'Neill, I came across a paper in a German journal. The title of the paper was “BRIC as a group of unequals.” Since then, there has been consistent growth and development in the BRICS group, and it has emerged as a force to reckon with. In December 2010, after South Africa joined the group, it became BRICS. The role and contribution of the BRICS is significant to the world economy in terms of population (40%), GDP (25% nominal and US$ 16.039 trillion), land coverage (30%), world trade (18%), and global forex (US$ 4 trillion). Since 2001 and till the end of 2010, the BRICS as a group worked on sectoral cooperation in many areas, namely—science and technology, trade promotion and facilitation, energy, health, education, innovation, and fight against transnational crime. Presently, sectoral cooperation accounts for more than 30 subject areas. These areas have brought in specific benefits to the population of the group of countries. In 2014, the 11th summit took place in Brazil and institutions of strategic and paramount significance were created such as New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). These have far reaching effects and implications for the global world in general and BRICS economies in particular. Both the initiatives are contributing significantly in the process of accelerating economic growth resulting in socioeconomic progress in the member countries. During the last five years, NDB has approved 70 infrastructure and sustainable development projects amounting to US$ 25.07 billion that also comprises loans given under NDB Emergency Assistance Facility among the member countries. Significantly, India has 18 projects amounting to US$ 6.9 billion. On December 20, 2020, the 12th Summit was held in Russia, wherein new dimensions were added namely—world stability, shared security, and innovative growth. These are the sine-quo-non for creating better, effective, and efficient global economic order (GEO) which is the need of the hour.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42497066","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-11-17DOI: 10.1177/09749101211053069
Hamza Belfqih, Ahlam Qafas, M. Jerry
This article investigates the relationship between institutional quality and foreign direct investment (FDI) in Morocco using a large set of institutional quality variables over the period 1970–2016. The study uses ARDL bounds testing approach with structural breaks and Granger causality. The analysis is then extended to the disaggregated sub-components to discern the inherent dynamics of institutional quality. The study finds several relationships between FDI and various aspects of institutional quality. Results from both models conclude with policy recommendations.
{"title":"Investigating the Nexus Between FDI and Institutional Quality: Evidence from Morocco","authors":"Hamza Belfqih, Ahlam Qafas, M. Jerry","doi":"10.1177/09749101211053069","DOIUrl":"https://doi.org/10.1177/09749101211053069","url":null,"abstract":"This article investigates the relationship between institutional quality and foreign direct investment (FDI) in Morocco using a large set of institutional quality variables over the period 1970–2016. The study uses ARDL bounds testing approach with structural breaks and Granger causality. The analysis is then extended to the disaggregated sub-components to discern the inherent dynamics of institutional quality. The study finds several relationships between FDI and various aspects of institutional quality. Results from both models conclude with policy recommendations.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"390 - 418"},"PeriodicalIF":0.0,"publicationDate":"2021-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46429312","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-11-02DOI: 10.1177/09749101211049083
Nigel Raylyn Dsilva
This article examines the empirical literature on technology spillovers and the mechanisms or channels through which it diffuses in emerging market economies. This article delves into conceptual and measurement challenges concerning technology spillovers. International trade, foreign direct investment, and human capital are the main mechanisms or channels through which technology spillovers and diffusion takes place. In so doing, limitations are also brought out concerning measurement and methodological issues. Finally, this article summarizes the issues and challenges with regards to technology spillovers and its mechanisms of diffusion in emerging market economies and provides pointers for future research.
{"title":"Technology Spillovers and Its Mechanisms of Diffusion in Emerging Market Economies: Issues and Challenges","authors":"Nigel Raylyn Dsilva","doi":"10.1177/09749101211049083","DOIUrl":"https://doi.org/10.1177/09749101211049083","url":null,"abstract":"This article examines the empirical literature on technology spillovers and the mechanisms or channels through which it diffuses in emerging market economies. This article delves into conceptual and measurement challenges concerning technology spillovers. International trade, foreign direct investment, and human capital are the main mechanisms or channels through which technology spillovers and diffusion takes place. In so doing, limitations are also brought out concerning measurement and methodological issues. Finally, this article summarizes the issues and challenges with regards to technology spillovers and its mechanisms of diffusion in emerging market economies and provides pointers for future research.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"419 - 433"},"PeriodicalIF":0.0,"publicationDate":"2021-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46131876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-11-02DOI: 10.1177/09749101211049038
J. Dada, F. Ajide, Adams Adeiza
This study deviates from extant studies by examining the effect of shadow economy (SE) on environmental pollution, and the role institutional indicators play in moderating the effect in West Africa between 1992 and 2015. Specifically, the study employed three institutional indicators (corruption control [COR], law and order [LAW], and bureaucratic quality [BUQ]) to mediate the effect and also determine its threshold values. SE is measured using Multiple Indicators Multiple Causes (MIMIC) while environmental pollution is proxy by carbon dioxide (CO2) per capita. Two step system Generalized Method of Moments (GMM) is used to drive out the conclusions of the study. The findings reveal that SE, COR and LAW contribute significantly to environmental pollution, while BUQ though not significant, reduces environmental pollution in the region. Further, the interactive effect of SE with all the institutional indicators shows that strong institutional indicators abate environmental pollution through reduction in the presence of SE. The threshold value of institutional indicators, which reduces SE and abates environmental pollution, are 3.8 and 3.7 for COR, and LAW, respectively, on an ordinary scale of 0–6, while 2.8 for BUQ on an ordinary scale of 0–4. Nevertheless, most of the countries in the region operate below the threshold level of institutional indicators in the region. The results are robust to different proxies of environmental pollution. The implications of the study are discussed.
{"title":"Shadow Economy and Environmental Pollution in West African Countries: The Role of Institutions","authors":"J. Dada, F. Ajide, Adams Adeiza","doi":"10.1177/09749101211049038","DOIUrl":"https://doi.org/10.1177/09749101211049038","url":null,"abstract":"This study deviates from extant studies by examining the effect of shadow economy (SE) on environmental pollution, and the role institutional indicators play in moderating the effect in West Africa between 1992 and 2015. Specifically, the study employed three institutional indicators (corruption control [COR], law and order [LAW], and bureaucratic quality [BUQ]) to mediate the effect and also determine its threshold values. SE is measured using Multiple Indicators Multiple Causes (MIMIC) while environmental pollution is proxy by carbon dioxide (CO2) per capita. Two step system Generalized Method of Moments (GMM) is used to drive out the conclusions of the study. The findings reveal that SE, COR and LAW contribute significantly to environmental pollution, while BUQ though not significant, reduces environmental pollution in the region. Further, the interactive effect of SE with all the institutional indicators shows that strong institutional indicators abate environmental pollution through reduction in the presence of SE. The threshold value of institutional indicators, which reduces SE and abates environmental pollution, are 3.8 and 3.7 for COR, and LAW, respectively, on an ordinary scale of 0–6, while 2.8 for BUQ on an ordinary scale of 0–4. Nevertheless, most of the countries in the region operate below the threshold level of institutional indicators in the region. The results are robust to different proxies of environmental pollution. The implications of the study are discussed.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":"14 1","pages":"366 - 389"},"PeriodicalIF":0.0,"publicationDate":"2021-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43716444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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