scholarly journals THE IMPACT OF RULE OF LAW ON FDI INFLOW: A POOLED MEAN GROUP ANALYSIS OF SELECTED SSA COUNTRIES

2020 ◽  
Vol 8 (2) ◽  
pp. 441-450
Author(s):  
Suleiman Zangina ◽  
Sallahuddin Hassan
Keyword(s):  
Rule Of Law ◽  
Group Analysis ◽  
The Rule Of Law ◽  
Pooled Mean Group ◽  
Long Run ◽  
Short Run ◽  
Dynamic Heterogeneous Panel ◽  
The Impact ◽  
Heterogeneous Panel ◽  
Ssa Countries

Purpose of the study: The main objective of this study is basically to investigate the impact of rule of law on FDI inflow for a panel of six selected SSA countries comprising, Ethiopia, Tanzania, Senegal, Nigeria, Congo Republic, and Sudan. Methodology: The study utilized the Pooled Mean Group (PMG) dynamic heterogeneous panel approach covering the period 1996 – 2017. Main Findings: The results indicate that adherence to the rule of law is directly related to the inflow of FDI in the selected countries in the long-run, whereas its impact is insignificant on FDI during the short-run. Applications of this study: The study is useful to SSA countries since it will provide policymakers with the necessary insight to formulate appropriate policies to effectively promote adherence to the rule of law with a view to boost foreign investors’ confidence in the economies and stimulate the inflow of FDI. Novelty/Originality of this study: This paper is amongst the first to utilize the PMG dynamic heterogeneous panel approach to explore the relationship of rule of law with the inflow of FDI in the six SSA countries.

scholarly journals Education composition and growth: A pooled mean group analysis of OECD countries

2011 ◽  
Vol 58 (4) ◽  
pp. 455-471 ◽  
Author(s):  
Marta Simões
Keyword(s):  
Group Analysis ◽  
Oecd Countries ◽  
Usual Estimator ◽  
Pooled Mean Group ◽  
Long Run ◽  
Parameter Heterogeneity ◽  
Short Run ◽  
Empirical Growth ◽  
The Relationship ◽  
Different Levels

This paper uses the pooled mean group (PMG) estimator and a dataset restricted to OECD countries to examine the relationship between different levels of education, i.e. between education composition and growth. The PMG estimator allows a greater degree of parameter heterogeneity than the usual estimator procedures used in empirical growth studies by imposing common long run relationships across countries while allowing for heterogeneity in the short run responses and intercepts. Results point to a significant longterm relationship not only between higher education and growth but also between lower schooling levels and growth. This indicates that public spending on education in OECD countries should be spread across the different levels of education in a balanced way.

The Impact of Climate Change on Agricultural Productivity in Asian Countries: a heterogeneous panel data approach

2021 ◽  
Author(s):  
Dicle Ozdemir
Keyword(s):  
Climate Change ◽  
Agricultural Productivity ◽  
Short Term ◽  
Global Food Security ◽  
Long Run ◽  
Short Run ◽  
Carbon Fertilization ◽  
The Impact ◽  
Heterogeneous Panel

Abstract While climate change is having serious impacts on agriculture and may require ongoing adaptation, short-term threats to global food security are also crucial for developing countries. This study aims to investigate how the effects of climate change on agricultural productivity vary depending upon the short-run and long-run in Asia over the period of 1980–2016. The results confirmed that there is a long-term relationship between agricultural productivity and climate change variables; however, only CO2 emissions could be linked to agricultural productivity in the short-term. Moreover, while the direction of this effect is positive for the short term, it turns into negative in the long term confirming that carbon fertilization in the atmosphere can to some extent have a positive effect on agricultural productivity.

In the Hindutva Laboratory: Pogroms and Politics in Gujarat, 2002

2008 ◽  
Vol 44 (2) ◽  
pp. 349-399 ◽  
Author(s):  
HOWARD SPODEK
Keyword(s):  
Rule Of Law ◽  
Cultural Change ◽  
Spillover Effects ◽  
The State ◽  
The Rule Of Law ◽  
Communal Violence ◽  
Educational Restructuring ◽  
Short Run ◽  
The Impact ◽  
The City

AbstractCommunal violence wracked the state of Gujarat and the city of Ahmedabad once again in 2002, leaving some 2,000 people dead. Because the ruling BJP party had proclaimed Gujarat the ‘Laboratory of Hindutva’, analysts throughout India saw the violence as BJP policy and debated its possible spillover effects elsewhere. This paper finds that in a period already marked by stressful economic and cultural change and attended by political uncertainty, some BJP leaders gambled that an attack on Gujarat's Muslims, and on the rule of law in general, would attract followers and voters. Their gamble proved correct at least in the short run. This paper examines the cultural, social, geographical and educational restructuring that is occurring, through legal and illegal struggles, and the impact of the violence upon these processes. It examines the declining status of Muslims as a result of continuous propaganda against them. It analyzes the degree to which the state was damaged as a result of the decision for violence and asks about the degree to which leaders do, or do not, wish to ‘put it behind them’, and suggests that Ahmedabad's problems are widely shared in both the developing and developed worlds.

Impact of exchange rate and oil price on the yield of sovereign bond and sukuk: Evidence from Malaysian capital market

2017 ◽  
Vol 5 (4) ◽  
pp. 27
Author(s):  
Huda Arshad ◽  
Ruhaini Muda ◽  
Ismah Osman
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Time Series Data ◽  
Oil Prices ◽  
Oil Price ◽  
Series Data ◽  
Sovereign Bond ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study analyses the impact of exchange rate and oil prices on the yield of sovereign bond and sukuk for Malaysian capital market. This study aims to ascertain the effect of weakening Malaysian Ringgit and declining of crude oil price on the fixed income investors in the emerging capital market. This study utilises daily time series data of Malaysian exchange rate, oil price and the yield of Malaysian sovereign bond and sukuk from year 2006 until 2015. The findings show that the weakening of exchange rate and oil prices contribute different impacts in the short and long run. In the short run, the exchange rate and oil prices does not have a direct relation with the yield of sovereign bond and sukuk. However, in the long run, the result reveals that there is a significant relationship between exchange rate and oil prices on the yield of sovereign bond and sukuk. It is evident that only a unidirectional causality relation is present between exchange rate and oil price towards selected yield of Malaysian sovereign bond and sukuk. This study provides numerical and empirical insights on issues relating to capital market that supports public authorities and private institutions on their decision and policymaking process.

Harmonisasi terhadap Peraturan Daerah No. 14 Tahun 2006 tentang Pengelolaan Pelestarian Kawasan Konservasi Laut Daerah dalam Perlindungan Pulau Pariwisata Kabupaten Indramayu

2019 ◽  
Vol 1 (2) ◽  
pp. 142
Author(s):  
Saiful Kholik ◽  
Imas Khaeriyah
Keyword(s):  
Rule Of Law ◽  
Local Governments ◽  
Environmental Law ◽  
Policy Formulation ◽  
Marine Conservation ◽  
Environmental Damage ◽  
Conservation Area ◽  
The Rule Of Law ◽  
The Government ◽  
The Impact

Inconsistency Regional Regulation No.14 of 2006 about marine conservation area of the island of Biawak, Gososng, which Cendekian provides protection but in fact failed to provide protection as evidenced by dredging island sandbar and cendekian conducted PT.Pertamina UP VI Balongan INDRAMAYU. The problem in this research How Formulation Policy Act No. 10 Year 2009 on the Indonesian Tourism with the Indramayu Regional Regulation No. 14 of 2006 regarding marine conservation area of the island of Biawak, Gososng, Cendekian And How Harmonization Act No. 10 of 2009 with the Indramayu Regional Regulation No. 14 of 2006 regarding formulation Act No. 10 Year 2009 on the Indonesian Tourism with the Indramayu Regional Regulation No. 14 of 2006 about marine conservation area of the island of Biawak, Gososng, Cendekian, the purpose of this research to understand and analyze the extent to which policy The findings of the community or field of law local governments about the environmental damage done by companies or individuals are not equal accordance with regional regulations in force, nor the Law in force so that the function of law in society indramayu not fit the mandate to establish a change and justice based Formulation public corporate criminal liability.Inskonsitensi happens to local regulation No.14 of 2006 makes no harmonized with the regulations of each other so that the impact of this inskonsistensi makes the sector particularly environmental law enforcement get uncertainties that result in coastal communities Indramayau.Conclusion Harmonization of regulations of the center and regions delivering the policy formulation of the rule of law area to comply with the regulations above in order to avoid inconsistency, the occurrence of this inconsistency resulted in the rule of law and justice for the indramayu, suggestion that the government should was nearly revise regulations related area, especially the government must dare to take action to give effect to the perpetrator deterrent effect rule-based running as well as possible.

An Econometric Analysis on the Relationship between Globalisation and Inequality in South Africa

2020 ◽  
Vol 11 (1) ◽  
pp. 89-89
Author(s):  
Jacques de Jongh
Keyword(s):  
South Africa ◽  
Well Being ◽  
Causality Analysis ◽  
Global Integration ◽  
Development Indicators ◽  
Long Run ◽  
The World ◽  
Distribution Of Resources ◽  
Short Run ◽  
The Impact

Globalisation has had an unprecedented impact on the development and well-being of societies across the globe. Whilst the process has been lauded for bringing about greater trade specialisation and factor mobility many have also come to raise concerns on its impact in the distribution of resources. For South Africa in particular this has been somewhat of a contentious issue given the country's controversial past and idiosyncratic socio-economic structure. Since 1994 though, considerable progress towards its global integration has been made, however this has largely coincided with the establishment of, arguably, the highest levels of income inequality the world has ever seen. This all has raised several questions as to whether a more financially open and technologically integrated economy has induced greater within-country inequality (WCI). This study therefore has the objective to analyse the impact of the various dimensions of globalisation (economic, social and political) on inequality in South Africa. Secondary annual time series from 1990 to 2018 were used sourced from the World Bank Development indicators database, KOF Swiss Economic Institute and the World Inequality database. By using different measures of inequality (Palma ratios and distribution figures), the study employed two ARDL models to test the long-run relationships with the purpose to ensure the robustness of the results. Likewise, two error correction models (ECM) were used to analyse the short-run dynamics between the variables. As a means of identifying the casual effects between the variables, a Toda-Yamamoto granger causality analysis was utilised. Keywords: ARDL, Inequality, Economic Globalisation; Social Globalisation; South Africa

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

International Arbitration as a Tool of Global Governance

2019 ◽  
Author(s):  
Sophie Nappert
Keyword(s):  
Global Governance ◽  
Rule Of Law ◽  
International Arbitration ◽  
The Rule Of Law ◽  
Arbitration Process ◽  
Fact Finding ◽  
Exercise Of Discretion ◽  
The Impact

It has been posited that the international arbitration process carries with it not only fact-finding and lawmaking functions but also a governance function insofar as “arbitrators … can and do engage in autonomous normative action while still adhering to the rule of law.” This contribution explores the role and ambit of the exercise of discretion by international arbitration tribunals and its interplay with the tribunals’ governance function, as arbitrators must consider “the impact of their rulings on states, persons or entities not directly represented in the case before them.” It questions whether the use of discretion is suited to the governance role of arbitral tribunals and serves, rather than compromises, the effective exercise of that role. It asks what measures ought to be considered to make arbitrators better prepared for the exercise of their governance function.

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