Pub Date : 2020-12-01DOI: 10.1142/S2194565920500232
A. Santana
This paper examines the effects of banking crises and financial liberalization on the relationship between financial development and economic growth in a panel of 16 Latin American countries over t...
本文考察了银行业危机和金融自由化对16个拉美国家金融发展与经济增长关系的影响。
{"title":"THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN LATIN AMERICAN COUNTRIES: THE ROLE OF BANKING CRISES AND FINANCIAL LIBERALIZATION","authors":"A. Santana","doi":"10.1142/S2194565920500232","DOIUrl":"https://doi.org/10.1142/S2194565920500232","url":null,"abstract":"This paper examines the effects of banking crises and financial liberalization on the relationship between financial development and economic growth in a panel of 16 Latin American countries over t...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87563832","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 : 2020-12-01DOI: 10.1142/S2194565920500220
P. K. Sahoo
This paper empirically examines the convergence of cryptocurrency markets with particular attention to top 30 cryptocurrencies. The study applies the novel Phillips and Sul panel convergence techni...
{"title":"CONVERGENCE PATTERNS IN CRYPTOCURRENCY MARKETS: EVIDENCE FROM CLUB CONVERGENCE","authors":"P. K. Sahoo","doi":"10.1142/S2194565920500220","DOIUrl":"https://doi.org/10.1142/S2194565920500220","url":null,"abstract":"This paper empirically examines the convergence of cryptocurrency markets with particular attention to top 30 cryptocurrencies. The study applies the novel Phillips and Sul panel convergence techni...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81040852","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 : 2020-12-01DOI: 10.1142/S2194565920500219
Malayaranjan Sahoo, N. Sethi
This paper examines the relationship between human development, remittances and other macroeconomic variables like life expectancy, human capital, FDI, inflation, economic growth and financial deve...
{"title":"DOES REMITTANCE INFLOW PROMOTE HUMAN DEVELOPMENT IN SUB-SAHARAN AFRICA? AN EMPIRICAL INSIGHT","authors":"Malayaranjan Sahoo, N. Sethi","doi":"10.1142/S2194565920500219","DOIUrl":"https://doi.org/10.1142/S2194565920500219","url":null,"abstract":"This paper examines the relationship between human development, remittances and other macroeconomic variables like life expectancy, human capital, FDI, inflation, economic growth and financial deve...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85446069","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 : 2020-11-20DOI: 10.1142/S2194565920500141
Saba Ismail, Shahid Ahmed
The trade relations between India and China have been intensified since 2001. The aim of this paper is to examine the effects of tariff reduction by India and China on bilateral imports in light and heavy manufacturing sectors. The results are evaluated in terms of welfare, output, employment and the potential trade flows between India and China in CGE framework using the GTAP-model. GTAP database version 10, covering 141 countries/regions and 65 sectors, with a base year of 2014, have been used. Overall results show that India and China’s trade relation has improved in last two decades, but still there is a lot of untapped potential to bring the welfare gains for both trading partners. This study concludes that deeper integration by tariff reduction on imports of light manufacturing and heavy manufacturing sectors between India and China may not be welfare enhancing for India, however there are substantial welfare gain for China. The study suggests that a well calculated and strategically negotiated tariff reduction in light and heavy manufacturing sectors may create a win–win situation for both partners. The study argues that China should offer a preferential market access to India for mutually beneficial and welfare enhancing engagements for both countries.
{"title":"INDIA–CHINA TRADE IN LIGHT AND HEAVY MANUFACTURING SECTOR: A COMPUTABLE GENERAL EQUILIBRIUM ANALYSIS","authors":"Saba Ismail, Shahid Ahmed","doi":"10.1142/S2194565920500141","DOIUrl":"https://doi.org/10.1142/S2194565920500141","url":null,"abstract":"The trade relations between India and China have been intensified since 2001. The aim of this paper is to examine the effects of tariff reduction by India and China on bilateral imports in light and heavy manufacturing sectors. The results are evaluated in terms of welfare, output, employment and the potential trade flows between India and China in CGE framework using the GTAP-model. GTAP database version 10, covering 141 countries/regions and 65 sectors, with a base year of 2014, have been used. Overall results show that India and China’s trade relation has improved in last two decades, but still there is a lot of untapped potential to bring the welfare gains for both trading partners. This study concludes that deeper integration by tariff reduction on imports of light manufacturing and heavy manufacturing sectors between India and China may not be welfare enhancing for India, however there are substantial welfare gain for China. The study suggests that a well calculated and strategically negotiated tariff reduction in light and heavy manufacturing sectors may create a win–win situation for both partners. The study argues that China should offer a preferential market access to India for mutually beneficial and welfare enhancing engagements for both countries.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75669582","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 : 2020-11-10DOI: 10.1142/s2194565920500207
N. Kyriazis
This paper investigates the nexus between Bitcoin, gold and highly innovative uncertainty indices by employing alternative Autoregressive Conditional Heteroskedasticity (ARCH) and Generalized ARCH (GARCH) specifications. The period examined covers from March 2012 up to March 2020. Econometric outcomes indicate that Bitcoin returns and volatility are positively influenced by gold returns and the S&P500 volatility index (VIX). Nevertheless, it is revealed that the innovative Geopolitical Risk Index by Caldara and Iacoviello ( 2019 ) exerts negative impacts on Bitcoin markets. Evidence indicates that the Simple Asymmetric ARCH methodology provides the best fit for the purposes of estimations. Our findings cast light on the important aspects of Bitcoin behavior and provide guidance for decision-making about portfolios that contain Bitcoin and gold. This enables economic agents to ameliorate their risk–return trade-off depending on the fluctuations in stock markets and geopolitical uncertainty.
{"title":"THE EFFECTS OF GOLD, STOCK MARKETS AND GEOPOLITICAL UNCERTAINTY ON BITCOIN PRICES AND VOLATILITY","authors":"N. Kyriazis","doi":"10.1142/s2194565920500207","DOIUrl":"https://doi.org/10.1142/s2194565920500207","url":null,"abstract":"This paper investigates the nexus between Bitcoin, gold and highly innovative uncertainty indices by employing alternative Autoregressive Conditional Heteroskedasticity (ARCH) and Generalized ARCH (GARCH) specifications. The period examined covers from March 2012 up to March 2020. Econometric outcomes indicate that Bitcoin returns and volatility are positively influenced by gold returns and the S&P500 volatility index (VIX). Nevertheless, it is revealed that the innovative Geopolitical Risk Index by Caldara and Iacoviello ( 2019 ) exerts negative impacts on Bitcoin markets. Evidence indicates that the Simple Asymmetric ARCH methodology provides the best fit for the purposes of estimations. Our findings cast light on the important aspects of Bitcoin behavior and provide guidance for decision-making about portfolios that contain Bitcoin and gold. This enables economic agents to ameliorate their risk–return trade-off depending on the fluctuations in stock markets and geopolitical uncertainty.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1142/s2194565920500207","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72492812","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 : 2020-11-05DOI: 10.1142/s2194565920500190
U. R. Paudel, S. Parajuli, Niranjan Devkota, S. Mahapatra
This paper provides insight on how banking officials communicate with customers and how effective their techniques and tools are for development of banks. With the help of structured questionnaire technique, 373 customers having accounts in commercial banks in Nepal were interviewed in the month of April–September, 2019. Dummy based awareness index and Ordered Logit Regression Model were performed to understand customers’ perception on banking communication in Nepal. The Awareness Index shows that banking customers are moderately aware about banking communication while the Ordered Logit reveals that providing time to address customers’ problem and DEMAT facility were found to have significant relationship with banking communication awareness level. This study therefore indicates providing time to address customer’s problem and using DEMAT facilities experiences increases awareness in banking communication. This study contributes to the banking sector communication by transforming communication barriers for customers’ satisfaction.
{"title":"WHAT DETERMINES CUSTOMERS’ PERCEPTION OF BANKING COMMUNICATION? AN EMPIRICAL EVIDENCE FROM COMMERCIAL BANKS OF NEPAL","authors":"U. R. Paudel, S. Parajuli, Niranjan Devkota, S. Mahapatra","doi":"10.1142/s2194565920500190","DOIUrl":"https://doi.org/10.1142/s2194565920500190","url":null,"abstract":"This paper provides insight on how banking officials communicate with customers and how effective their techniques and tools are for development of banks. With the help of structured questionnaire technique, 373 customers having accounts in commercial banks in Nepal were interviewed in the month of April–September, 2019. Dummy based awareness index and Ordered Logit Regression Model were performed to understand customers’ perception on banking communication in Nepal. The Awareness Index shows that banking customers are moderately aware about banking communication while the Ordered Logit reveals that providing time to address customers’ problem and DEMAT facility were found to have significant relationship with banking communication awareness level. This study therefore indicates providing time to address customer’s problem and using DEMAT facilities experiences increases awareness in banking communication. This study contributes to the banking sector communication by transforming communication barriers for customers’ satisfaction.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81874706","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 : 2020-10-05DOI: 10.1142/s2194565920500153
CANH P. NGUYEN, CHRISTOPHE SCHINCKUS, DINH SU THANH
The recent economic crisis re-emphasizes the importance of the economic fluctuations. This study investigates the role of shadow economy in combination with economic factors on the economic instability for 133 economies between 1991 and 2015. Using the system-GMM estimations, this paper shows that a larger shadow economy increases the fluctuations of GDP growth rate in relation to the size and the volatility of shadow economy. Notably, the shadow economy presents an inverted-U relationship with economic instability and this relationship is strongest for low- and lower-middle income economies. Our results identify two categories of drivers for economic fluctuations: the stabilizing factors (the labor force and the TFP) and the enhancing factors (capital investment, consumption, government spending, trade, and FDI inflows). Interestingly, exports increase economic fluctuations while imports decrease them. Finally, we discuss the differences in the determinants of economic instability across low, middle and high incomes countries. This study documented that shadow economy influences the economic fluctuations — our results actually confirm our hypothesis and the impact of shadow economy on the effectiveness of macroeconomic policies. The contribution of this paper is to show the extent to which the impact can affect the economic activities and how institutions can smooth this effect.
{"title":"ECONOMIC FLUCTUATIONS AND THE SHADOW ECONOMY: A GLOBAL STUDY","authors":"CANH P. NGUYEN, CHRISTOPHE SCHINCKUS, DINH SU THANH","doi":"10.1142/s2194565920500153","DOIUrl":"https://doi.org/10.1142/s2194565920500153","url":null,"abstract":"The recent economic crisis re-emphasizes the importance of the economic fluctuations. This study investigates the role of shadow economy in combination with economic factors on the economic instability for 133 economies between 1991 and 2015. Using the system-GMM estimations, this paper shows that a larger shadow economy increases the fluctuations of GDP growth rate in relation to the size and the volatility of shadow economy. Notably, the shadow economy presents an inverted-U relationship with economic instability and this relationship is strongest for low- and lower-middle income economies. Our results identify two categories of drivers for economic fluctuations: the stabilizing factors (the labor force and the TFP) and the enhancing factors (capital investment, consumption, government spending, trade, and FDI inflows). Interestingly, exports increase economic fluctuations while imports decrease them. Finally, we discuss the differences in the determinants of economic instability across low, middle and high incomes countries. This study documented that shadow economy influences the economic fluctuations — our results actually confirm our hypothesis and the impact of shadow economy on the effectiveness of macroeconomic policies. The contribution of this paper is to show the extent to which the impact can affect the economic activities and how institutions can smooth this effect.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138506316","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 : 2020-10-02DOI: 10.1142/s219456592030001x
Liu Weili, Hayat Khan
This paper aims to review the literature on the definitions of sharing economy. For this study, a total of 280 papers have been collected and then limited to 75 published papers which have given th...
本文旨在回顾有关共享经济定义的文献。本研究共收集了280篇论文，并将其限制在75篇已发表的论文中。
{"title":"A LITERATURE REVIEW ON THE DEFINITION OF SHARING ECONOMY","authors":"Liu Weili, Hayat Khan","doi":"10.1142/s219456592030001x","DOIUrl":"https://doi.org/10.1142/s219456592030001x","url":null,"abstract":"This paper aims to review the literature on the definitions of sharing economy. For this study, a total of 280 papers have been collected and then limited to 75 published papers which have given th...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74332785","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 : 2020-09-01DOI: 10.1142/s2194565920500177
E. Goulas, Socrates Karidis
We empirically investigate the role of fiscal policies on criminal activity using a sample of 25 EU countries over the period 2000–2013. Our analysis indicates that tight fiscal policies appear to have a positive effect on crime. This effect becomes stronger when property (non-violent) crime rates are considered. Further, the presence of high levels of shadow economy in a country provides a very strong mitigating factor on the adverse effect of public policies on crime. The initially strong link between tight fiscal policy and non-violent crime weakens significantly in the presence of undocumented economic activities which compensate for the lack of formal economic opportunities.
{"title":"CRIME AND FISCAL POLICY IN EUROPE: THE EFFECT OF SHADOW ECONOMY","authors":"E. Goulas, Socrates Karidis","doi":"10.1142/s2194565920500177","DOIUrl":"https://doi.org/10.1142/s2194565920500177","url":null,"abstract":"We empirically investigate the role of fiscal policies on criminal activity using a sample of 25 EU countries over the period 2000–2013. Our analysis indicates that tight fiscal policies appear to have a positive effect on crime. This effect becomes stronger when property (non-violent) crime rates are considered. Further, the presence of high levels of shadow economy in a country provides a very strong mitigating factor on the adverse effect of public policies on crime. The initially strong link between tight fiscal policy and non-violent crime weakens significantly in the presence of undocumented economic activities which compensate for the lack of formal economic opportunities.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90238051","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 : 2020-09-01DOI: 10.1142/s2194565920500165
Obinna Franklin Ezeibekwe
................................................................................................................................... 3 ACKNOWLEDGMENTS .............................................................................................................. 4 LIST OF TABLES .......................................................................................................................... 5 LIST OF FIGURES ........................................................................................................................ 6 CHAPTER ONE ............................................................................................................................. 7
{"title":"FINANCIAL DEVELOPMENT IN DEVELOPING COUNTRIES","authors":"Obinna Franklin Ezeibekwe","doi":"10.1142/s2194565920500165","DOIUrl":"https://doi.org/10.1142/s2194565920500165","url":null,"abstract":"................................................................................................................................... 3 ACKNOWLEDGMENTS .............................................................................................................. 4 LIST OF TABLES .......................................................................................................................... 5 LIST OF FIGURES ........................................................................................................................ 6 CHAPTER ONE ............................................................................................................................. 7","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78205083","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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