Applying a Darwinian model to the dynamic capabilities view: Insights and issues

AbstractThe Darwinian logic of evolution occurring via the mechanisms of variation, selection and retention provides a possible theoretical framework from which to further develop the dynamic capabilities view. Presently, criticized for lacking a theoretical foundation and featuring a degree of confusion concerning how it aligns with the resource-based view, the dynamic capabilities view would benefit from greater clarity concerning its assumptions, theoretical base and the development of a series of testable predictions. We test elements of a potential Darwinian style framework through variation-focused hypotheses using panel data for 190 Australian service firms. Our results highlight the importance of market development as a basis for variation, however, the impact of dynamic capabilities upon a likely antecedent of selection was not clear and highlighted a nuanced relationship between capability development, market development and sales growth in an small-and-medium-sized enterprise environment. We conclude that applying a Darwinian lens to the dynamic capabilities view is challenging without longer time series data and additional measures, but such an approach remains theoretically attractive and further investigation may help clarify how we conceptualize the relationship between the dynamic capabilities view and resource-based view.

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THE EXCHANGE RATE REGIME AND INTERNATIONAL TRADE: EVIDENCE FROM GHANA

EPRA International Journal of Economics, Business and Management Studies ◽

10.36713/epra8833 ◽

2021 ◽

pp. 1-8

Author(s):

Adubofour Isaac

Keyword(s):

International Trade ◽

Exchange Rate ◽

Foreign Trade ◽

Electric Power ◽

Time Series Data ◽

Labour Force ◽

Series Data ◽

Inverse Association ◽

The Impact ◽

The Relationship

The degree of fluctuation of a country’s currency in relation to other currencies is an important factor in determining her foreign trade position. The study employed both theoretical and empirical approaches to examine Ghana’s real exchange rate and the impact on her foreign trade. A time series data, spanning from 1991 to 2019 was analyzed in an attempt to establish the relationship between exchange rate and economic growth. It is argued in the study that exchange rate has impact on a country’s export volumes. A verification on the relationship between labour force and international trade was also conducted. The study was also extended to examining the impact of a country’s access to stable electric power on export volumes. Findings of the study revealed a statistically significant and inverse association existing between exchange rate and international trade. The study also found that, wide electricity coverage has statistically significant and direct effect on foreign trade, resulting from an increased production capacity due to the availability of electric power. The study however found no suggestive evidence to support the claim that, labour force has impact on her foreign trade. A test on granger causality found no causal linkage between the variables. KEYWORDS: Exchange rate, international trade, labour force, exports.

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IMPACT OF MONETARY POLICY TARGETS ON CAPITAL MARKET DEVELOPMENT IN NIGERIA

International Journal of Innovative Research in Education, Technology & Social Strategies ◽

10.48028/iiprds/ijiretss.v8.i1.09 ◽

2021 ◽

Vol 8 (1) ◽

pp. 85-95

Author(s):

Abdulkarim Musa ◽

◽

Uwaleke Uche ◽

Nwala Nneka ◽

◽

...

Keyword(s):

Monetary Policy ◽

Money Supply ◽

Capital Market ◽

Time Series Data ◽

Market Development ◽

Series Data ◽

Distributed Lag ◽

Long Run ◽

Short Run ◽

The Impact

This study empirically examines the impact of monetary policy targetson capital market development in Nigeria from 1986-2018. Time series data and econometric tools were used to test for the stationarity and causality effect. The Auto-Regressive Distributed Lag Model (ARDL) and Error Correction Model (ECM) techniques were used to examine the short-run and long-run impact and relationship between Monetary Policy and Capital Market Development in Nigeria. The study revealed that both in the long run and short run Exchange Rate (EXCHR), Inflation Rate (INFR), and Interest Rate in Nigeria (INTR)were negatively related to Capital Market Development (CAMKTD) in Nigeria and they were statistically insignificant in explaining changes in Capital Market Development (CAMKTD) in Nigeria. On the other hand, inthe long run, Money Supply was positively related to Capital Market Development (CAMKTD) in Nigeria and was statistically significant at a 5% level significant while Money Supply (M2) was positively related to Capital Market Development (CAMKTD) in Nigeria both in the long run and short-run and was statistically significant at 5% level of significance. Therefore, the study recommends that government should improve the efficiency and effectiveness of the money supply in Nigeria since it was statistically significant in determining the improvement of Capital Market Development (CAMKTD) in Nigeria.

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An Investigation of the Determinants of Savings and Investment in Nigeria

Issues in Economics and Business ◽

10.5296/ieb.v1i2.8688 ◽

2015 ◽

Vol 1 (2) ◽

pp. 1 ◽

Cited By ~ 2

Author(s):

Adelakun O. Johnson

Keyword(s):

Economic Growth ◽

Positive Relationship ◽

Inflation Rate ◽

Time Series Data ◽

Series Data ◽

Correction Model ◽

Use Of Time ◽

The Impact ◽

The Relationship

<p>This study examined the relationship between savings, investment and economic growth. A corollary of the work is the determination of which of the inputs of production contributes more to economic growth in Nigeria. The study makes use of time series data spanning twenty-nine years using error correction model. The result shows a positive relationship between savings, investment and economic growth in Nigeria. Of the determinants of savings considered in the study, inflation rate contributes negatively to saving, while interest rate positively affect saving. All these confirm economic theory. The striking feature of the study however is the confirmation of the impact of labour on economic growth, which according to the study far outweighs the contribution of capital.</p>

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Financial Market Development and Income Distribution Inequality in the Emerging Markets

Asian Business Research ◽

10.20849/abr.v4i3.653 ◽

2019 ◽

Vol 4 (3) ◽

pp. 6

Author(s):

Dingli Xi

Keyword(s):

Income Distribution ◽

Emerging Markets ◽

Financial Market ◽

Time Series Data ◽

Panel Data Analysis ◽

Developed Countries ◽

Market Development ◽

Series Data ◽

Financial Market Development ◽

The Relationship

The disruptive effects of the subprime financial crisis have raised new global concerns toward the increasing income distribution inequality. Nowadays, it has become one of the mainstays of public and scientific discourse around the world. Theoretical financial Kuznets curve suggests that the relationship between financial market development and income distribution inequality follows an inverted U-shaped pattern. However, current literature failed to support this hypothesis. The expansion of the financial market truly provides more relative opportunities for the poor which benefits the equalization. But those advantage opportunities are likely to be captured by some specific groups instead of all population. The majority literature on this academic field focus on developed countries with cross-sectional and panel data analysis that providing controversial results. They emphasize the financial development as a consequence of economic growth without deep analysis of the financial market development as an independent entity in determining the inequality. This study proposes to use a more comprehensive and rigorous method to identify the direct relationship between financial market development and income distribution inequality in 10 most typical emerging markets. Both short-run and long-run impacts of financial market development on income distribution inequality are examined and defined by utilizing time-series data and error-correction modelling technique. By providing a better understanding of the relationship, the findings of the research would make contributions to financial market policy adjustments in developing countries.

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The impact of inflation on the unemployment rate in Egypt: a VAR approach

SHS Web of Conferences ◽

10.1051/shsconf/202110706009 ◽

2021 ◽

Vol 107 ◽

pp. 06009

Author(s):

Emad Attia Mohamed Omran ◽

Yuriy Bilan

Keyword(s):

Unemployment Rate ◽

Time Series Data ◽

Empirical Studies ◽

Impulse Response Function ◽

High Rate ◽

Series Data ◽

Vector Autoregressive ◽

Political Effects ◽

The Impact ◽

The Relationship

Unemployment and inflation are among the most critical phenomena facing both developed and developing countries due to their harmful social, economic, and political effects. The Egyptian monetary policy’s main objective is to maintain a low inflation rate in the medium run to keep the confidence and a high rate of investment and economic growth. At the same time, economists argue that targeting a low-rate of inflation may increase unemployment. Although the classical Philips curve indicates a trade-off between inflation and unemployment, several empirical studies have argued that the relationship between inflation and unemployment depends on the shocks’ source and lagged responses. The main objective of this paper is to examine the relationship between inflation and Egypt’s unemployment rate. We used time-series data from 1980 to 2019, where a vector autoregressive (VAR) model and the Impulse response function tool (IRF) were employed. The results show that inflation has a positive relationship with GDP while negatively affecting the unemployment rate.

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The Effect of Foreign Direct Investment on Indonesia’s Economic Growth

Jurnal Ekonomi dan Bisnis Indonesia ◽

10.37673/jebi.v1i2.1 ◽

2016 ◽

Vol 1 (2) ◽

pp. 18-24

Author(s):

Abdul Hadi Ilman

Keyword(s):

Economic Growth ◽

Foreign Direct Investment ◽

Direct Investment ◽

Time Series Data ◽

Series Data ◽

Linear Regression Method ◽

Domestic Investment ◽

Relationship Of ◽

The Impact ◽

The Relationship

The relationship of Foreign Direct Investment (FDI) on economic growth is one of the most debatable topic in economic. This study is aiming to investigate the impact of FDI on economic growth in Indonesia. This research using linear regression method which base on time series data from 1981 to 2012. A Major finding is there is no special relationship between FDI and economic growth, both directly and indirectly. Moreover, FDI does crowd-in the domestic investment and is no significance evidence to prove that FDI is more efficient on economic growth than domestic investment.

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Does trade openness cause economic growth in Bangladesh?

IIUC Studies ◽

10.3329/iiucs.v16i0.50139 ◽

2020 ◽

Vol 16 ◽

pp. 99-110

Author(s):

Sharmina Khanom

Keyword(s):

Economic Growth ◽

Time Series Data ◽

Trade Openness ◽

Unit Root Test ◽

Positive Association ◽

Series Data ◽

Restrictive Trade ◽

Annual Time Series ◽

The Impact ◽

The Relationship

Bangladesh has followed a restrictive trade policy immediately after its liberation. But the system was proven wrong, and gradually it opened up its market to others and started to improve its foreign trade. This paper investigates the impact of trade openness on Bangladesh's economic growth using annual time-series data for the period from 1972-73 to 2015-16. The paper uses such econometric tools as unit root test, cointegration test and error correction model to investigate the relationship between the variables. This study revealed a positive association between export and GDP but the opposite relation between import and GDP and recommended to enhance export earnings. IIUC Studies Vol.16, December 2019: 99-110

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The Impact of Okun Misery Index on Out-of-pocket-payments in the Iranian Healthcare System

10.21203/rs.3.rs-100948/v1 ◽

2020 ◽

Author(s):

Aziz Rezapour ◽

Salar Ghorbani ◽

Eisavi Mahmoud ◽

Saeed Bagheri Faradonbeh

Keyword(s):

Healthcare System ◽

Time Series Data ◽

Series Data ◽

Causality Test ◽

Long Run ◽

Misery Index ◽

Out Of Pocket Payments ◽

Error Coefficient ◽

The Impact ◽

The Relationship

Abstract Introduction: One criterion to measure the achievement of a government's performance is stability and decreasing the misery index that is the sum of inflation and unemployment. Therefore, this study aims to investigate the impact of misery index on patients' out-of-pocket-payments in the Iranian healthcare system. Methods: This paper has used time-series data from 2000 to 2016 and it used three methods to examine the relationship between variables. First, the Dickey-Fuller test was used to evaluate the stationary of variables. Second, the Toda-Yamamoto causality test was used to test causality between variables. Third, Auto-Regressive Distributed Lags (ARDL) was used to test the long-run relationship. Analyzing data was conducted by Eviews 9 software.Results: The results showed that there was a bi-directional causal relationship between the misery index and the out-of-pocket-payments of patients in the health system. Also, increasing 1 unit of misery index increased 1.33 units of out-of-pocket-payments. The correction error coefficient was -0.435 that meant this amount was adjusted per period. In other words, it lasted more than 2 years and less than 3 years that the Nonequilibrium points converge to their long-run points of the relationship.Conclusion: Implementing appropriate policies in order to reduce unemployment and inflation rate can decline the out-of-pocket-payments in the Iranian healthcare system.

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The Impact of Renewable Energy Sources on Financial Development, and Economic Growth: The Empirical Evidence from an Emerging Economy

Energies ◽

10.3390/en14238033 ◽

2021 ◽

Vol 14 (23) ◽

pp. 8033

Author(s):

David Guan ◽

Ubaldo Comite ◽

Muhammad Safdar Sial ◽

Asma Salman ◽

Boyao Zhang ◽

...

Keyword(s):

Economic Growth ◽

Panel Data ◽

Financial Development ◽

Time Series Data ◽

Renewable Energy Sources ◽

Series Data ◽

Cross Sectional ◽

Renewable Sources ◽

The Impact ◽

The Relationship

Developing energy from renewable sources and modernizing the energy system are critical components of China’s efforts to combat climate change. Policymakers and authorities have made significant attempts to bring them. However, one of the major impediments to China’s energy revolution is financial limitations, which are inextricably linked to the country’s economic growth. The present research paper intends to investigate the relationship between economic growth and sustainable financial development on the use of energy from renewable sources in both the short and long run in the context of China. To achieve this, the researchers have utilized the panel data consisting of 10 years from 2011 to 2020. When compared to cross-sectional and time-series data samples, the panel data model offers many benefits. For starters, the panel data includes information on the passage of time and the cross-sectional area. Another benefit of using panel-data models with a larger degree of freedom is that they provide more stable and reliable estimates across short periods across cross-sections. In the case of the short run, there is a positive relationship between economic and financial development and the use of energy from renewable sources in the context of all of China. While in the case of long-term effects, the results indicate the adverse impact of financial development on the use of energy from renewable sources in the western regions of China. These results were deduced using the causality test Granger proposed to determine the path of the causal relationship and the direction of the relationship between the variables. These results indicated that the relationship between economic and financial development in east China was unidirectional, and the nature of the underlying relationship was causal. Meanwhile, in east and west China, economic development in China as a whole has been unidirectionally increasing energy from renewable sources. Our empirical findings suggest many strategies for promoting the growth of energy from renewable sources.

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Human Capital and Economic Growth: Pakistan, 1960-2003

THE LAHORE JOURNAL OF ECONOMICS ◽

10.35536/lje.2008.v13.i1.a1 ◽

2008 ◽

Vol 13 (1) ◽

pp. 1-27 ◽

Cited By ~ 6

Author(s):

Qaisar Abbas ◽

James Foreman-Peck

Keyword(s):

Economic Growth ◽

Human Capital ◽

Time Series Data ◽

Critical Role ◽

Health Spending ◽

Series Data ◽

Negative Contribution ◽

Secondary Schooling ◽

The Impact ◽

The Relationship

This paper investigates the relationship between human capital and economic growth in Pakistan with aggregate time series data. Estimated with the Johansen (1991) approach, the fitted model indicates a critical role for human capital in boosting the economy’s capacity to absorb world technical progress. Much higher returns, including spillovers, to secondary schooling in Pakistan than in OECD economies is consistent with very substantial education under-investment in Pakistan. Similarly, extremely large returns to health spending compare very favorably with industrial investment. Human capital is estimated to have accounted for just under one-fifth of the increase in Pakistan’s GDP per head. Since the 1990s, the impact of deficient human capital policies is shown by the negative contribution to economic growth.

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