scholarly journals Asymmetric effects of capital flight on domestic investment in Nigeria: evidence from non-linear autoregressive distributed lag model

2021 ◽  
Vol 1 (10) ◽  
Author(s):  
Lionel Effiom ◽  
Emmanuel Uche ◽  
Otei Asuquo Otei
Keyword(s):  
Capital Flight ◽  
Domestic Investment ◽  
Asymmetric Effects ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Non Linear ◽  
Lag Model

scholarly journals Asymmetric Effects of Capital Flight on Domestic Investment in Nigeria: Evidence from Non-Linear Autoregressive Distributed Lag Model

2020 ◽  
Author(s):  
LIONEL EFFIOM ◽  
EMMANUEL UCHE ◽  
OTEI ASUQUO OTEI ◽  
FRANCIS ARCHIBONG EFFIONG
Keyword(s):  
National Level ◽  
Capital Flight ◽  
Domestic Investment ◽  
Ratchet Effect ◽  
Asymmetric Effects ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Downward Spiral ◽  
Lag Model

Abstract Capital flight is a challenge for many developing countries. The problem is more severe in a nation like Nigeria where domestic investment has been affected. On theoretical grounds, domestic investment should be a decreasing function of capital flight, but is there a possibility that reversals or downturns in capital flight in Nigeria might lead to a decline in investment levels? Put differently, is there a tendency for domestic investment to maintain a downward spiral, a ratchet effect, even in the face of lower levels or magnitude of capital flight? This study is a modest first attempt at investigating these possibilities. Employing the nonlinear autoregressive distributed lag model (NARDL), the study finds evidence of asymmetric impact of capital flight on investment undertaken at the national level. However, investment by subnational governments revealed the existence of symmetry, while overall, total public sector investments (by both States and Federal Governments) indicated the existence of asymmetric effects between positive and negative deviations of capital flight. The paper re-echoes the need for the strengthening of institutions at all levels to curb the menace.

scholarly journals On the Unemployment Output Relation in South Africa: A Non-Linear ARDL Approach

2018 ◽  
Vol 10 (5(J)) ◽  
pp. 167-178
Author(s):  
Brian Tavonga Mazorodze ◽  
Noureen Siddiq
Keyword(s):  
Labour Market ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Ardl Approach ◽  
Non Linear ◽  
Lag Model ◽  
Contraction And Expansion ◽  
Unemployment Problem

The central aim of this paper is to establish the asymmetric effects of cyclical output on South Africa's unemployment rate. To achieve this objective, the non-linear autoregressive distributed lag model (NARDL) is applied on quarterly data spanning the periods 1994Q1-2017Q4. For every 10% economic contraction and expansion respectively according to the results, the response of the labour market is asymmetric in the long-run in that it loses more workers during contraction (10.3%) than it employs during recoveries (8%) supporting the labour market hysteresis. This is particularly true post the 2009 Global crisis suggesting that firms might have become more risk-averse to short-lived recoveries in recent years. The weak response of the labour market during expansions supports IMF’s recent proposition that economic recovery alone may not be enough to address South Africa's unemployment problem. 

scholarly journals EVIDENCE OF AN ASYMMETRIC IMPACT OF THE DEVALUATION OF CURRENCY ON INFLATION:

2019 ◽  
Vol 4 (1) ◽  
pp. 101-103
Author(s):  
Ahmed Balarabe Musa
Keyword(s):  
Exchange Rate ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Non Linear ◽  
Short Run ◽  
Lag Model ◽  
Asymmetric Impact ◽  
The Impact

The research is aimed at evaluating the existence of asymmetry or otherwise of the impact of devaluation of currency on inflation in Malaysia for the period 1970 – 2017. Non-linear autoregressive distributed lag model (NARDL) was used as the evaluation econometric tool of the research. The findings of the study reveal that devaluation of currency has an inflationary impact in both short run and long run. Whereas, revaluation of currency does not have any impact neither in the short run nor in the long run. This confirms the upward flexibility of the impact of the increases in the changes in the exchange rate on inflation at the same time reaffirms its rigidity downward.

scholarly journals The Determinants of Tourist Expenditure Per Capita in Thailand: Potential Implications for Sustainable Tourism

2021 ◽  
Vol 13 (12) ◽  
pp. 6550
Author(s):  
Wanvilai Chulaphan ◽  
Jorge Fidel Barahona
Keyword(s):  
Natural Resources ◽  
Sustainable Tourism ◽  
Least Square ◽  
Mass Tourism ◽  
Tourist Destinations ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Lag Model ◽  
Per Capita

Tourism authorities in Thailand have consistently pursued profit-seeking mass tourism, resulting in the detriment of the natural resources in major tourist destinations. In response, sustainable tourism projects centered on preserving the environment have been established but neglect the financial needs of tour operators. The objective of this study was to investigate the determinants of tourist expenditure per capita in Thailand using a dataset consisting of 31 countries from 2010 to 2017. The analysis was based on an autoregressive distributed lag model (ARDL) and used a panel estimated generalized least square (ELGS). Generating such knowledge is essential for tourist authorities to develop profitable and sustainable tourism projects in tourist destinations whose natural resources have been affected by profit-seeking tourism. The tourism expenditure per capita is positively affected by word of mouth, income, and the rising prices in other major tourist destinations in Asia. However, it was negatively affected by relative levels of price and corruption. Sustainable tourism projects can be used to develop activities that will help distinguish Thailand from other tourism destinations in Asia. However, in implementing these sustainable tourism initiatives, the mark-up should be minimized to keep tourist prices in Thailand competitive.

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