Pub Date : 2022-11-08DOI: 10.1108/jefas-08-2020-0301
Nikolai Klishch, A. Larionov
PurposeThis article focuses on whether there is a chance to win a World Trade Organization (WTO) trade dispute at the consultation stage. The study suggests an approach to resolving trade disputes on a bilateral level before involving formal WTO resolution procedures.Design/methodology/approachThe model describes the determinants of the probability of winning a trade dispute. The econometric model estimates two different groups of factors available during the consultation period – macroeconomic factors and the institutional features of the trade dispute, such as the number of third parties. The data includes WTO trade disputes from 1995 to 2014.FindingsThe suggested model predicts the result of trade disputes with a probability of 76.64%. The research proves that institutional factors such as the number of third parties and the subject of the trade dispute influence the probability of winning.Practical implicationsThe results of the study help predict the probability of winning a trade dispute at the consultation stage so that countries can decide whether to pursue a trade dispute.Originality/valueThe research presents several new hypotheses on the results of trade disputes. The authors show that the higher the number of countries involved, the higher the chance of the complainant winning and that if major parties such as the US or the European Union (EU) are involved as third parties, the chance of the complainant winning increases.
{"title":"Assessing the possibility of winning a WTO dispute before being involved","authors":"Nikolai Klishch, A. Larionov","doi":"10.1108/jefas-08-2020-0301","DOIUrl":"https://doi.org/10.1108/jefas-08-2020-0301","url":null,"abstract":"PurposeThis article focuses on whether there is a chance to win a World Trade Organization (WTO) trade dispute at the consultation stage. The study suggests an approach to resolving trade disputes on a bilateral level before involving formal WTO resolution procedures.Design/methodology/approachThe model describes the determinants of the probability of winning a trade dispute. The econometric model estimates two different groups of factors available during the consultation period – macroeconomic factors and the institutional features of the trade dispute, such as the number of third parties. The data includes WTO trade disputes from 1995 to 2014.FindingsThe suggested model predicts the result of trade disputes with a probability of 76.64%. The research proves that institutional factors such as the number of third parties and the subject of the trade dispute influence the probability of winning.Practical implicationsThe results of the study help predict the probability of winning a trade dispute at the consultation stage so that countries can decide whether to pursue a trade dispute.Originality/valueThe research presents several new hypotheses on the results of trade disputes. The authors show that the higher the number of countries involved, the higher the chance of the complainant winning and that if major parties such as the US or the European Union (EU) are involved as third parties, the chance of the complainant winning increases.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"73 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88232303","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 : 2022-11-03DOI: 10.1108/jefas-07-2021-0116
Rayan Faisal A. Makki, S. V. van Hemmen
PurposeThe purpose of this study is to investigate the initial investment's motivations and study the reinvesting motivations. The results revealed differences in reinvestors' motivations of reinvestors in both winning and losing situations. Specifically, financial return and excitement motives were supported for win and loss situations, while recognition was supported for loss and pleasure in win situations.Design/methodology/approachThe impact of intrinsic and extrinsic motivations on reinvestors was tested using the structural equation model. Furthermore, the framework was analysed with survey data from a total of 355 digital workers from Amazon Mechanical Turk, one of the world's largest crowdsourcing platforms.FindingsThe results indicate that there are differences in the motivations for reinvestors when they are in both winning and losing situations. Financial return and excitement motives were supported for win and loss situation, while recognition was supported in loss and pleasure in win situation.Research limitations/implicationsThis study makes it possible to better understand the motivations behind crowdfunding reinvestment among digital workers. To build on this work, more studies should be conducted with different samples to test the generalisability of these results. Moreover, future studies on different samples could determine whether the same motivations would hold for other investors or whether another motivation would have greater impact on these reinvestment decisions.Originality/valueWhile previous research on equity crowdfunding has predominantly focused on intrinsic and extrinsic motivations for participating and investing in equity crowdfunding platforms, the motives that specifically affect winning or losing situations for reinvestors have been largely overlooked.
{"title":"Reinvesting in equity crowdfunding: the case of digital workers","authors":"Rayan Faisal A. Makki, S. V. van Hemmen","doi":"10.1108/jefas-07-2021-0116","DOIUrl":"https://doi.org/10.1108/jefas-07-2021-0116","url":null,"abstract":"PurposeThe purpose of this study is to investigate the initial investment's motivations and study the reinvesting motivations. The results revealed differences in reinvestors' motivations of reinvestors in both winning and losing situations. Specifically, financial return and excitement motives were supported for win and loss situations, while recognition was supported for loss and pleasure in win situations.Design/methodology/approachThe impact of intrinsic and extrinsic motivations on reinvestors was tested using the structural equation model. Furthermore, the framework was analysed with survey data from a total of 355 digital workers from Amazon Mechanical Turk, one of the world's largest crowdsourcing platforms.FindingsThe results indicate that there are differences in the motivations for reinvestors when they are in both winning and losing situations. Financial return and excitement motives were supported for win and loss situation, while recognition was supported in loss and pleasure in win situation.Research limitations/implicationsThis study makes it possible to better understand the motivations behind crowdfunding reinvestment among digital workers. To build on this work, more studies should be conducted with different samples to test the generalisability of these results. Moreover, future studies on different samples could determine whether the same motivations would hold for other investors or whether another motivation would have greater impact on these reinvestment decisions.Originality/valueWhile previous research on equity crowdfunding has predominantly focused on intrinsic and extrinsic motivations for participating and investing in equity crowdfunding platforms, the motives that specifically affect winning or losing situations for reinvestors have been largely overlooked.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"1 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89866484","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 : 2022-11-02DOI: 10.1108/jefas-08-2019-0179
Panayiotis G. Tzeremes
PurposeThe study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017.Design/methodology/approachUsing the extension of the Granger noncausality test in the nonlinear time-varying of Ajmi et al. (2015), the study points out the interconnectedness between the variables during the period.FindingsThe study found nonlinear causality between the variables. Particularly, studying the conclusions for the time-varying Granger causality fashion, it can be noticed that the one-way causality from total factor productivity to tourism growth is obtained for Argentina, Bolivia, Brazil, Uruguay and Venezuela, while the vice versa is confirmed for Chile, Ecuador and Nicaragua. Lastly, the study dissected the plots of the curve causality.Practical implicationsIn view of the results, some crucial policy implications could be suggested, such as, under certain circumstances and as an exceptional case, the use of policy instruments such as targeted investment, marketing and the support of tourism organizations focused on driving a tourism-led-based productivity and/or tourism programs and projects.Originality/valueThe current work is distinguished from the existing body of understanding in several substantial directions. This work explores, for the first time, the linkages between the total factor productivity index and tourism growth for Latin American countries. No single attempt has been known to investigate this interaction by using nonlinear causality, and this study determines the shape of the curve between the total factor productivity index and tourism growth for each country.
目的利用1995 - 2017年的时间序列数据，探讨拉丁美洲国家全要素生产率与旅游业增长之间的关系。设计/方法/途径利用Ajmi et al.(2015)在非线性时变中的Granger非因果检验的推广，指出了时间段内变量之间的相互联系。研究发现变量之间存在非线性因果关系。特别是研究时变格兰杰因果关系的结论，可以发现阿根廷、玻利维亚、巴西、乌拉圭和委内瑞拉的全要素生产率与旅游增长之间存在单向因果关系，而智利、厄瓜多尔和尼加拉瓜的全要素生产率与旅游增长之间存在单向因果关系。最后，对曲线因果关系图进行了剖析。根据研究结果，可以提出一些关键的政策建议，例如，在某些情况下，作为例外情况，使用政策工具，如有针对性的投资、营销和支持旅游组织，重点推动以旅游为导向的生产力和/或旅游计划和项目。原创性/价值当前的工作在几个实质性的方向上与现有的理解体有所区别。本研究首次探讨了拉丁美洲国家全要素生产率指数与旅游业增长之间的联系。目前还没有单一的尝试通过使用非线性因果关系来研究这种相互作用，本研究确定了每个国家全要素生产率指数与旅游业增长之间的曲线形状。
{"title":"Analysing the linkage between total factor productivity and tourism growth in Latin American countries","authors":"Panayiotis G. Tzeremes","doi":"10.1108/jefas-08-2019-0179","DOIUrl":"https://doi.org/10.1108/jefas-08-2019-0179","url":null,"abstract":"PurposeThe study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017.Design/methodology/approachUsing the extension of the Granger noncausality test in the nonlinear time-varying of Ajmi et al. (2015), the study points out the interconnectedness between the variables during the period.FindingsThe study found nonlinear causality between the variables. Particularly, studying the conclusions for the time-varying Granger causality fashion, it can be noticed that the one-way causality from total factor productivity to tourism growth is obtained for Argentina, Bolivia, Brazil, Uruguay and Venezuela, while the vice versa is confirmed for Chile, Ecuador and Nicaragua. Lastly, the study dissected the plots of the curve causality.Practical implicationsIn view of the results, some crucial policy implications could be suggested, such as, under certain circumstances and as an exceptional case, the use of policy instruments such as targeted investment, marketing and the support of tourism organizations focused on driving a tourism-led-based productivity and/or tourism programs and projects.Originality/valueThe current work is distinguished from the existing body of understanding in several substantial directions. This work explores, for the first time, the linkages between the total factor productivity index and tourism growth for Latin American countries. No single attempt has been known to investigate this interaction by using nonlinear causality, and this study determines the shape of the curve between the total factor productivity index and tourism growth for each country.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"40 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80929148","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 : 2022-11-01DOI: 10.1108/jefas-04-2021-0021
M. Abuamsha, S. Shumali
PurposeThe study aims at estimating the shadow economy (SE) using the method of demand for currency in Palestine for the period 2008–2018 by studying the relationship between a group of variables that affect the ratio of money traded outside the banking system to the money supply in the broad sense.Design/methodology/approachThe study has adopted analytical and descriptive research methods to estimate SE in Palestinian territories. The data has been obtained from the inflation reports issued by the Palestinian Monetary Authority for ten years, from 2008 to 2018. A standard model was constructed using EViews version 8 for statistical data processing after converting the annual data to quarterly data.FindingsThe authors demonstrated that the size of the SE in Palestinian territories has varied over time, and the annual average of its size during the study period reached about $1764.893 (in millions). This amount constitutes about 15.5% of the gross domestic product. The study provides recommendations for reducing the size of the SE in Palestinian territories.Practical implicationsThe current study shows that shadow economics could significantly matter for economic policy design by policymakers.Originality/valueThis study deals directly with Tanzi’s “estimation of shadow economy in Palestinian territories” concept and its impact on economic policies.
本研究旨在通过研究影响银行体系外交易货币与广义货币供应量之比的一组变量之间的关系，利用巴勒斯坦2008-2018年货币需求的方法估计影子经济(SE)。设计/方法/方法本研究采用了分析性和描述性研究方法来估计巴勒斯坦领土上的经济状况。这些数据来自巴勒斯坦金融管理局发布的通货膨胀报告，从2008年到2018年，持续了十年。将年度数据转换为季度数据，使用EViews version 8构建标准模型进行统计数据处理。研究结果表明，巴勒斯坦领土的经济规模随着时间的推移而变化，在研究期间，经济规模的年平均规模约为1764893美元(以百万计)。这一数额约占国内生产总值的15.5%。这项研究提出了减少巴勒斯坦领土上东南地区规模的建议。当前的研究表明，影子经济学可能对决策者的经济政策设计产生重大影响。原创性/价值本研究直接探讨Tanzi的“巴勒斯坦地区影子经济的估计”概念及其对经济政策的影响。
{"title":"Shadow economy in Palestinian territories using currency demand approach","authors":"M. Abuamsha, S. Shumali","doi":"10.1108/jefas-04-2021-0021","DOIUrl":"https://doi.org/10.1108/jefas-04-2021-0021","url":null,"abstract":"PurposeThe study aims at estimating the shadow economy (SE) using the method of demand for currency in Palestine for the period 2008–2018 by studying the relationship between a group of variables that affect the ratio of money traded outside the banking system to the money supply in the broad sense.Design/methodology/approachThe study has adopted analytical and descriptive research methods to estimate SE in Palestinian territories. The data has been obtained from the inflation reports issued by the Palestinian Monetary Authority for ten years, from 2008 to 2018. A standard model was constructed using EViews version 8 for statistical data processing after converting the annual data to quarterly data.FindingsThe authors demonstrated that the size of the SE in Palestinian territories has varied over time, and the annual average of its size during the study period reached about $1764.893 (in millions). This amount constitutes about 15.5% of the gross domestic product. The study provides recommendations for reducing the size of the SE in Palestinian territories.Practical implicationsThe current study shows that shadow economics could significantly matter for economic policy design by policymakers.Originality/valueThis study deals directly with Tanzi’s “estimation of shadow economy in Palestinian territories” concept and its impact on economic policies.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"1 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83131858","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 : 2022-10-28DOI: 10.1108/jefas-01-2022-0005
Raul Armando Cardona-Montoya, V. Cruz, Samuel Mongrut
PurposeOur findings indicate that workers with more financial education were more prepared to face the negative effects on their finances from COVID. This ability reduces the probability of becoming financially fragile and experiencing financial stress.Design/methodology/approachThe authors applied a survey questionnaire to 856 Colombian adults and used principal component analysis to build an index for each factor. Then, the authors used a linear regression model with the indexes to test our hypotheses and verify our results using a structural equation model.FindingsOur findings indicate that workers who have more financial education are more prepared to face the negative effects on their finances, which reduces the probability of becoming financially fragile and having financial stress.Research limitations/implicationsThe authors found that there is no significant relationship between financial literacy and financial fragility, neither between financial literacy and financial stress, so a better financial education will not lower financial fragility and stress unless it is being applied by households through better financial preparedness.Practical implicationsIt is important to highlight that the pandemic not only taught us to improve biosecurity measures but also that financial strength, ability to work remotely and income diversification were key factors in facing this adverse shock, the authors show that high levels of financial education have a positively relationship with the ability of individuals to manage their resources, so private and public institutions have to promote better financial education.Originality/valueThis is the first study that applies the four different indexes to an emerging country (i.e. Colombia), and the first one to create and use a financial stress index.
{"title":"Financial fragility and financial stress during the COVID-19 crisis: evidence from Colombian households","authors":"Raul Armando Cardona-Montoya, V. Cruz, Samuel Mongrut","doi":"10.1108/jefas-01-2022-0005","DOIUrl":"https://doi.org/10.1108/jefas-01-2022-0005","url":null,"abstract":"PurposeOur findings indicate that workers with more financial education were more prepared to face the negative effects on their finances from COVID. This ability reduces the probability of becoming financially fragile and experiencing financial stress.Design/methodology/approachThe authors applied a survey questionnaire to 856 Colombian adults and used principal component analysis to build an index for each factor. Then, the authors used a linear regression model with the indexes to test our hypotheses and verify our results using a structural equation model.FindingsOur findings indicate that workers who have more financial education are more prepared to face the negative effects on their finances, which reduces the probability of becoming financially fragile and having financial stress.Research limitations/implicationsThe authors found that there is no significant relationship between financial literacy and financial fragility, neither between financial literacy and financial stress, so a better financial education will not lower financial fragility and stress unless it is being applied by households through better financial preparedness.Practical implicationsIt is important to highlight that the pandemic not only taught us to improve biosecurity measures but also that financial strength, ability to work remotely and income diversification were key factors in facing this adverse shock, the authors show that high levels of financial education have a positively relationship with the ability of individuals to manage their resources, so private and public institutions have to promote better financial education.Originality/valueThis is the first study that applies the four different indexes to an emerging country (i.e. Colombia), and the first one to create and use a financial stress index.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"52 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72786889","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 : 2022-10-24DOI: 10.1108/jefas-09-2021-0186
Marcela Maestre Matos, Jahir Lombana-Coy, F. Mesías
PurposeThis study aims to identify informal institutions for bottom-of-the-pyramid (BoP) business models in the agricultural sector through the case study of banana growers’ cooperatives.Design/methodology/approachA case study of six banana cooperatives from Colombia was conducted. The research followed a mixed design, using both qualitative and quantitative data and the application of structural equations.FindingsThis study shows that social capital, networking and alliances are essential in BoP businesses.Originality/valueAuthors defined a model of informal institutional factors for the generation of economic and social value in inclusive business, using the new institutional theory and the conceptual development of BoP in agri-business.
{"title":"Creation of shared value in cooperatives: informal institutions’ perspective of small-sized banana growers from Colombia","authors":"Marcela Maestre Matos, Jahir Lombana-Coy, F. Mesías","doi":"10.1108/jefas-09-2021-0186","DOIUrl":"https://doi.org/10.1108/jefas-09-2021-0186","url":null,"abstract":"PurposeThis study aims to identify informal institutions for bottom-of-the-pyramid (BoP) business models in the agricultural sector through the case study of banana growers’ cooperatives.Design/methodology/approachA case study of six banana cooperatives from Colombia was conducted. The research followed a mixed design, using both qualitative and quantitative data and the application of structural equations.FindingsThis study shows that social capital, networking and alliances are essential in BoP businesses.Originality/valueAuthors defined a model of informal institutional factors for the generation of economic and social value in inclusive business, using the new institutional theory and the conceptual development of BoP in agri-business.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"22 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85939794","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}
The study of the decline of cultivators and rise of agricultural labourers in the rural areas of Himachal Pradesh is done by using the methodology of percentage and compound annual growth rate for the decade 2000-01 to 2010-11. In the decade 2000-01 to 2010-11, the number of cultivators in the agricultural workers of Himachal Pradesh declined by 7.40% from 65.33% to 57.93% and the number of agricultural labourers in the agricultural workers of Himachal Pradesh increased by 1.7% from 3.15% to 4.92%. In non-agricultural activities are recorded a slight decrease of 0.13% in Himachal Pradesh Households industry which come down from 1.76% to 1.63%. Apart from this, other workers of Himachal Pradesh have registered a significant increase of 5.73% which has increased from the decade 2000-01 to 2010-11. In this paper an attempt has been made to know about the effects of other workers on performance of agricultural workers on Himachal Pradesh. This study is based on secondary data and data collected from reliable sources of the Government of Himachal Pradesh.
{"title":"The Decline of Cultivators and Rise of Agricultural Labourers in the Rural Areas of Himachal Pradesh","authors":"Anay Kumar, M. Lal","doi":"10.12691/jfe-10-3-2","DOIUrl":"https://doi.org/10.12691/jfe-10-3-2","url":null,"abstract":"The study of the decline of cultivators and rise of agricultural labourers in the rural areas of Himachal Pradesh is done by using the methodology of percentage and compound annual growth rate for the decade 2000-01 to 2010-11. In the decade 2000-01 to 2010-11, the number of cultivators in the agricultural workers of Himachal Pradesh declined by 7.40% from 65.33% to 57.93% and the number of agricultural labourers in the agricultural workers of Himachal Pradesh increased by 1.7% from 3.15% to 4.92%. In non-agricultural activities are recorded a slight decrease of 0.13% in Himachal Pradesh Households industry which come down from 1.76% to 1.63%. Apart from this, other workers of Himachal Pradesh have registered a significant increase of 5.73% which has increased from the decade 2000-01 to 2010-11. In this paper an attempt has been made to know about the effects of other workers on performance of agricultural workers on Himachal Pradesh. This study is based on secondary data and data collected from reliable sources of the Government of Himachal Pradesh.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"24 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74459167","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}
This study examines the link between inflation with fuel prices and hog prices in the Vietnamese context using Error Correction Model (ECM). It reveals that the change in the current gasoline and hog prices will produce a positive effect on Consumer Price Index (CPI) values in the next month. Because of the high speed of adjusting CPI to long-term equilibrium, Vietnam’s CPI needs more than a month to reach this equilibrium. Taken together, these findings provide some suggestions for using the fluctuations in petroleum and hog prices as warning indicators for a more accurate CPI forecast in Vietnam. Moreover, it is recommended that other factors, for example, the changes in gasoline prices and hog prices, are added in predicting CPI.
{"title":"Evaluating the Relationship between Consumer Price Index with Gasoline and Hog Prices in Vietnam","authors":"Pham Minh Thuy","doi":"10.12691/jfe-10-3-1","DOIUrl":"https://doi.org/10.12691/jfe-10-3-1","url":null,"abstract":"This study examines the link between inflation with fuel prices and hog prices in the Vietnamese context using Error Correction Model (ECM). It reveals that the change in the current gasoline and hog prices will produce a positive effect on Consumer Price Index (CPI) values in the next month. Because of the high speed of adjusting CPI to long-term equilibrium, Vietnam’s CPI needs more than a month to reach this equilibrium. Taken together, these findings provide some suggestions for using the fluctuations in petroleum and hog prices as warning indicators for a more accurate CPI forecast in Vietnam. Moreover, it is recommended that other factors, for example, the changes in gasoline prices and hog prices, are added in predicting CPI.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"33 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72909610","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 : 2022-07-12DOI: 10.1108/jefas-04-2022-330
Nestor U. Salcedo, J. Talavera, Jerry L. Harr
We are proud to present issue 53 and celebrate the 30th anniversary of creating the Journal of Economics, Finance and Administrative Science (JEFAS) by ESAN Graduate School of Business (currently University ESAN). This year is significant considering the upcoming 60th anniversary of the ESAN Graduate School of Business, founded as the product of a three-way agreement involving the Government of Peru, the US Agency for International Development and Stanford Graduate School of Business. This landscape allowed establishing the goal of always seeking and achieving high-quality research in business and economics for contributing to the academic community, policymakers and management practice. The journey so far has been long and challenging, with outstanding achievements thanks to themembers involved in the editorial team from its creation to the present day. Some are no longer on this journey. However, each one contributed significantly to the legacy that the JEFAS has consolidated through its challenges, review and roadmap (Haar, 2015; Salcedo, 2021a) and continually encouraging high-quality publications (Salcedo, 2021b) through its strong collaboration (Aria and Cuccurullo, 2017), as shown in Figure 1.
我们很荣幸地推出第53期，并庆祝由ESAN商学院(现为ESAN大学)创建的《经济，金融与行政科学杂志》(JEFAS) 30周年。考虑到即将迎来ESAN商学院成立60周年，今年意义重大。ESAN商学院是秘鲁政府、美国国际开发署(usaid)和斯坦福大学商学院(Stanford Graduate School of Business)三方协议的产物。在这种环境下，确立了始终寻求和实现高质量商业和经济研究的目标，为学术界、政策制定者和管理实践做出贡献。这是一段漫长而充满挑战的历程，编辑部成员从成立到今天都取得了令人瞩目的成就。有些人已经不在这条路上了。然而，每个人都对JEFAS通过挑战、审查和路线图巩固的遗产做出了重大贡献(Haar, 2015;Salcedo, 2021a)，并通过强有力的合作(Aria and Cuccurullo, 2017)不断鼓励高质量的出版物(Salcedo, 2021b)，如图1所示。
{"title":"Editorial: Past, present and future of a developing journey for 30 years","authors":"Nestor U. Salcedo, J. Talavera, Jerry L. Harr","doi":"10.1108/jefas-04-2022-330","DOIUrl":"https://doi.org/10.1108/jefas-04-2022-330","url":null,"abstract":"We are proud to present issue 53 and celebrate the 30th anniversary of creating the Journal of Economics, Finance and Administrative Science (JEFAS) by ESAN Graduate School of Business (currently University ESAN). This year is significant considering the upcoming 60th anniversary of the ESAN Graduate School of Business, founded as the product of a three-way agreement involving the Government of Peru, the US Agency for International Development and Stanford Graduate School of Business. This landscape allowed establishing the goal of always seeking and achieving high-quality research in business and economics for contributing to the academic community, policymakers and management practice. The journey so far has been long and challenging, with outstanding achievements thanks to themembers involved in the editorial team from its creation to the present day. Some are no longer on this journey. However, each one contributed significantly to the legacy that the JEFAS has consolidated through its challenges, review and roadmap (Haar, 2015; Salcedo, 2021a) and continually encouraging high-quality publications (Salcedo, 2021b) through its strong collaboration (Aria and Cuccurullo, 2017), as shown in Figure 1.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"118 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81254905","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 : 2022-06-14DOI: 10.1108/jefas-04-2021-0032
Hassanudin Mohd Thas Thaker, Mohamed Asmy Bin Mohd Thas Thaker, Muhammad Rizky Prima Sakti, I. Sifat, Anwar Bin Allah Pitchay, Hafezali Iqbal Hussain
PurposeThe purpose of this paper is to examine the effect of economic policy uncertainty (EPU) of China on investment opportunities in five ASEAN economies.Design/methodology/approachThis paper employs advanced empirical approaches, such as Multivariate DCC-GARCH and Continuous Wavelet Transform (CWT) to test the research objective. The period of analysis involved monthly data from 2003 until 2019.FindingsThis paper provides evidence where the Malaysian stock market to be the least exposed to risks emanating from Chinese EPU, followed by Singapore, the Philippines, Thailand and Indonesia. Results for investment opportunities based on time horizon suggest, for a short-term holding period, investors are better off investing in Singapore and Indonesia, while, for medium-term holding periods, all ASEAN markets appear lucrative except for the Philippines.Practical implicationsFrom a managerial perspective, the outcome or findings of this study are expected to aid the retail and institutional investors in designing better strategies on diversifying a stock portfolio with different holding periods.Originality/valueTheoretically, the findings of this study contribute fresh insights into an emerging strand of literature focusing on the transmission of regional policy. Methodologically as well, this study is a novel venture to the best of authors' knowledge.
{"title":"Economic policy uncertainty of China and investment opportunities: a tale of ASEAN stock markets","authors":"Hassanudin Mohd Thas Thaker, Mohamed Asmy Bin Mohd Thas Thaker, Muhammad Rizky Prima Sakti, I. Sifat, Anwar Bin Allah Pitchay, Hafezali Iqbal Hussain","doi":"10.1108/jefas-04-2021-0032","DOIUrl":"https://doi.org/10.1108/jefas-04-2021-0032","url":null,"abstract":"PurposeThe purpose of this paper is to examine the effect of economic policy uncertainty (EPU) of China on investment opportunities in five ASEAN economies.Design/methodology/approachThis paper employs advanced empirical approaches, such as Multivariate DCC-GARCH and Continuous Wavelet Transform (CWT) to test the research objective. The period of analysis involved monthly data from 2003 until 2019.FindingsThis paper provides evidence where the Malaysian stock market to be the least exposed to risks emanating from Chinese EPU, followed by Singapore, the Philippines, Thailand and Indonesia. Results for investment opportunities based on time horizon suggest, for a short-term holding period, investors are better off investing in Singapore and Indonesia, while, for medium-term holding periods, all ASEAN markets appear lucrative except for the Philippines.Practical implicationsFrom a managerial perspective, the outcome or findings of this study are expected to aid the retail and institutional investors in designing better strategies on diversifying a stock portfolio with different holding periods.Originality/valueTheoretically, the findings of this study contribute fresh insights into an emerging strand of literature focusing on the transmission of regional policy. Methodologically as well, this study is a novel venture to the best of authors' knowledge.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"288 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79400795","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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