scholarly journals The Impact of Foreign Direct Investment on the Export Performance: Empirical Evidence for Western Balkan Countries

2016 ◽  
Vol 6 (1) ◽  
pp. 57
Author(s):  
Dr.Sc. Nasir Selimi ◽  
Dr.Sc. Luljeta Sadiku ◽  
MA. Kushtrim Reçi
Keyword(s):  
Fixed Effects ◽  
Export Performance ◽  
Least Square ◽  
Foreign Direct Investments ◽  
Policy Makers ◽  
Dummy Variable ◽  
Balkan Countries ◽  
Regression Techniques ◽  
The Impact ◽  
Positive Effect

Recently there are many authors that have studied and analyzed the impact of foreign direct investments (FDI) on the export performance. They have different opinions about the effect of foreign direct investments on the export performance. Some of them in their papers conclude that FDI have positive effect on the export performance and some not. There are also findings that FDI do not have any impact on the export performance. Of course for economic benefit of host country it is not important only the amount of FDI, but also their structure. To measure the effect of FDI on the export performance is not easy.Therefore, the main objective of this paper is to analyze empirically the foreign direct investments and exports performance during the period of 1996-2013 in Western Balkan countries. The paper also investigates for the fixed effects and individual heterogeneity across countries and years. Based on the panel regression techniques and Least Square Dummy Variable (LSDV) regression method, FDI positively affect export performance in the sample countries in various model specifications.The results and conclusions of this paper we hope that will help everybody who are interested and studying this matter, especially the policy makers.  The last ones have the obligation to facilitate and promote the export if they award confirm that FDI contribute on developing their economy.   

scholarly journals The Impact of ASEAN-Korea Free Trade Agreements on Indonesian Export of Manufacturing Goods

ETIKONOMI ◽  
2018 ◽  
Vol 17 (2) ◽  
pp. 161-184
Author(s):  
Bernadheta Mia Tri Mareta
Keyword(s):  
Free Trade ◽  
Fixed Effects ◽  
Export Performance ◽  
Free Trade Agreements ◽  
Trade Diversion ◽  
Trade Agreements ◽  
Least Square ◽  
Gravity Models ◽  
Trade Creation ◽  
The Impact

Along with an attempt to promote the export performance of manufacturing goods, the number of investigation about the potential benefit or harm of free trade agreements is still weak in Indonesia. This paper highlights the effect of ASEAN-Korea Free Trade Agreement (AKFTA) on Indonesian export of manufacturing products since AKFTA as one of the significant initiatives in Southeast Asia is expected to boost Indonesian export. By using augmented gravity models with panel data, this paper investigates the presence of trade creation and trade diversion effects on Indonesian export with 20 trading partners, covering a 26-year period from 1990-2015. Fixed effects with least square dummy variable (LSDV) models are applied to tackle the endogeneity problems of FTA by controlling the unobserved heterogeneity. The results showed that trade diversion outweighs trade creation effects in almost all categories, confirming a decrease in export from member to non-member countries.DOI: 10.15408/etk.v17i2.7342

Dampak Kebijakan Moneter Pada Output Di Negara-Negara ASEAN Tahun 1980-2014

2017 ◽  
Vol 4 (1) ◽  
pp. 58-70
Author(s):  
Nur Widiastuti
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Negative Relationship ◽  
Least Square ◽  
Fixed Effects Model ◽  
State Data ◽  
Ordinary Least Square ◽  
The Impact

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model

scholarly journals Financing Growth through Remittances and Foreign Direct Investment: Evidences from Balkan Countries

2021 ◽  
Vol 14 (3) ◽  
pp. 117
Author(s):  
Esmeralda Jushi ◽  
Eglantina Hysa ◽  
Arjona Cela ◽  
Mirela Panait ◽  
Marian Catalin Voica
Keyword(s):  
Developing Economies ◽  
Central Banks ◽  
Sustainable Growth ◽  
Time Interval ◽  
Foreign Direct Investments ◽  
Factors Affecting ◽  
Balkan Countries ◽  
To Come ◽  
Sustainable Economic Growth ◽  
The Impact

The ultimate goal of central banks, worldwide, is to promote the foundations for sustainable economic growth. In the case of developing economies, in particular, such objective requires time, huge efforts, attention, and plenty of resources in order to be accomplished to the fullest degree. This paper thoroughly investigates key factors affecting Balkan countries’ economic development (as measured by gross domestic product (GDP) growth), focusing especially on the impact of remittances. The analysis was done over an 18-year time interval (2000–2017) and builds on 144 observations. The data figures were retrieved from the World Bank database while two dummies were created to test the impact of the last financial crisis (2008–2012). Econometric tools were employed to carry out a broad analysis on the interdependencies that exist and, in particular, to determine the role of remittance income on growth. The vector auto regressive model was estimated using EViews software, and was used to come up with relevant insights. Empirical findings suggest the following: population growth, remittances, and labor force participation are insignificant factors for sustainable growth. On the other hand, previous levels of GDP, trade, and foreign direct investments (FDIs) appear to be relevant for the predictor. This research provides up-to-date conclusions, which can be considered during the decision-making process of central banks, as well as by government policymakers.

Does the second wave of COVID-19 undermine corporate immunity? International evidence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Huy Viet Hoang ◽  
Cuong Nguyen ◽  
Khanh Hoang
Keyword(s):  
Stock Returns ◽  
Stock Price ◽  
Fixed Effects ◽  
Management Strategies ◽  
The United States ◽  
Least Square ◽  
Content Type ◽  
The Impact ◽  
Second Wave ◽  
Practical Implications

PurposeThis study compares the impact of the COVID-19 pandemic on stock returns in the first two waves of infection across selected markets, given built-in corporate immunity before the global outbreak.Design/methodology/approachThe data are collected from listed firms in five markets that have experienced the second wave of COVID-19 contagion, namely the United States (US), Australia, China, Hong Kong and South Korea. The period of investigation in this study ranges from January 24 to August 28, 2020 to cover the first two COVID-19 waves in selected markets. The study estimates the research model by employing the ordinary least square method with fixed effects to control for the heterogeneity that may confound the empirical outcomes.FindingsThe analysis reveals that firms with larger size and more cash reserves before the COVID-19 outbreak have better stock performance under the first wave; however, these advantages impede stock resilience during the second wave. Corporate governance practices significantly influence stock returns only in the first wave as their effects fade when the second wave emerges. The results also suggest that in economies with greater power distance, although stock price depreciation was milder in the first wave, it is more intense when new cases again surge after the first wave was contained.Practical implicationsThis paper provides practical implications for corporate managers, policymakers and governments concerning crisis management strategies for COVID-19 and future pandemics.Originality/valueThis study is the first to evaluate built-in corporate immunity before the COVID-19 shock under successive contagious waves. Besides, this study accentuates the importance of cultural understanding in weathering the ongoing pandemic across different markets.

Forecasting the schedule performance resulting from the adoption of social distancing in construction projects

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hilary Omatule Onubi ◽  
Nor'Aini Yusof ◽  
Ahmad Sanusi Hassan ◽  
Ali Ahmed Salem Bahdad
Keyword(s):  
Construction Projects ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Content Type ◽  
Social Distancing ◽  
Schedule Performance ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect

PurposeThe coronavirus disease 2019 (COVID-19) pandemic has had major impacts on the performance of construction projects that have adopted social distancing measures. This study examines the effect of social distancing measures on project schedule performance through job reorganization on construction project sites.Design/methodology/approachResponses were obtained through a survey of 154 construction projects and analysed using the partial least square structural equation modeling (PLS-SEM) technique.FindingsThe findings established that social distancing has a negative effect on schedule performance, social distancing has a positive effect on job re-organization and job re-organization has a positive effect on schedule performance. Additionally, the results indicate that job re-organization partially mediates the relationship between social distancing and schedule performance, while social distancing moderates the relationship between job re-organization and schedule performance with low social distancing having the stronger positive effect.Originality/valueThis study contributes theoretically to a greater understanding of the impact of adopting COVID-19 safety measures such as social distancing on the schedule performance of construction projects. The study also shows how social distancing could lead to schedule performance through job reorganization.

scholarly journals The Impact of Wood Fuel Energy on Economic Growth in Sub-Saharan Africa: Dynamic Macro-Panel Approach

2020 ◽  
Vol 12 (8) ◽  
pp. 3280 ◽  
Author(s):  
Chindo Sulaiman ◽  
A.S. Abdul-Rahim
Keyword(s):  
Economic Growth ◽  
Fuel Consumption ◽  
Fixed Effects ◽  
Sub Saharan Africa ◽  
Wood Fuel ◽  
Policy Makers ◽  
Interaction Term ◽  
Sub Saharan ◽  
Solar Powered ◽  
The Impact

This study estimates the impact of wood fuel consumption on economic growth in 19 sub-Saharan African countries over the 1979-2017 period. The study employs dynamic macro-panel estimators, which comprises pooled mean group (PMG), mean group (MG), and dynamic fixed effects (DFE). The estimated result reveals that PMG is the most efficient estimator among the three estimators based on the Hausman h-test. The results from PMG model reveal that wood fuel consumption has significant negative impact on economic growth. Also, when an interaction term between labor and wood fuel consumption was included in the model and estimated, the coefficient of wood fuel consumption yields negative and significant coefficient. This suggests that the interaction term has a negative and significant effect on economic growth. These results unveil that wood fuel consumption negatively and significantly affect economic growth, both directly and indirectly. The policy recommendations from this study are as follows: (1) Governments of these countries should provide adequate and affordable modern fuels to the populace; especially rural dwellers to decrease the use of wood fuel for cooking and heating (2) policy makers should intensify awareness campaign on the risk and danger wood fuel poses to economic growth so as to discourage its use and (3) policy makers should provide adequate solar powered stoves and solar-powered room heaters as cheap substitutes to the use of wood fuel for cooking and heating. These recommendations will assist in negating the negative effects of wood fuel consumption on economic growth of the region.

Firm-level agreements, employment strategies and temporary workers

2020 ◽  
Vol 42 (1) ◽  
pp. 194-212
Author(s):  
Saverio Minardi
Keyword(s):  
Fixed Effects ◽  
Selection Process ◽  
Temporary Employment ◽  
Least Square ◽  
Temporary Workers ◽  
Firm Level ◽  
Data Set ◽  
Content Type ◽  
Collective Agreements ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of two-tier firm-level collective agreements on firms’ propensity to use temporary employment, accounting for the process of self-selection of firms into different bargaining levels in the Italian context. It further examines which firm-level characteristics drive this process of selection. Design/methodology/approach The empirical analysis uses a panel data set of Italian firms for the years 2005, 2007, 2010 and 2015. Estimations are produced and compared through ordinary least square regression, random-effects and fixed-effects models. Findings Results show that enterprises adopting two-tier firm-level agreements (TTFA) are associated with lower levels of temporary workers. However, a longitudinal analysis suggests that introducing a TTFA does not impact firms’ propensity to employ temporary workers. This novel finding highlights the presence of a selection process based on firm-level time-constant characteristics. The paper argues that these characteristics refer to management orientation toward high-road rather than low-road employment strategies. Further evidence is brought in support of this claim, showing that firms’ propensity toward the provision of training for their labor force partially explain the process of selection. Originality/value The study is the first to analyze the impact of secondary-level collective agreements on firms’ reliance on temporary employment, offering new evidence on the causes of the expansion of temporary employment. It further highlights the relevance of employers’ strategies in shaping the impact of the bargaining structure.

Public policy makers

2015 ◽  
Vol 6 (1) ◽  
pp. 55-71 ◽  
Author(s):  
Gloria Sraha
Keyword(s):  
Public Policy ◽  
Export Performance ◽  
Value Added ◽  
Developed Countries ◽  
Foreign Markets ◽  
Policy Makers ◽  
Content Type ◽  
Entrepreneurial Development ◽  
The Impact ◽  
Export Assistance

Purpose – Although there is great deal of research on export assistance programmes in developed countries, studies on developing countries in Africa has received scant attention in the literature. Lack of detailed information in many developing African countries makes it difficult to assess the effect of export promotion programmes (EPPs) on the firm’s export performance in foreign markets. The purpose of this paper is to explore entrepreneurial development in the value-added export sector of Ghana and screen EPPs provided by public policy makers to examine the impact of these programmes on export performance of Ghanaian firms in foreign markets. Design/methodology/approach – A conceptual/exploratory paper is developed with discussion. Findings – The paper suggests that the ability of exporters to enhance their performance is driven by the usage of outside market access, export development/training and information related export assistance programmes offered by public policy makers. Utilisation of EPPs builds experiential knowledge which serves as a source of competitive advantage for exporters to implement effective marketing mix strategies to enhance performance. Practical implications – The study underscores the specific EPPs export managers can utilise to enhance performance and improve their international marketing strategy in foreign markets. Public policy makers need to work together with exporters to incorporate and develop programmes to suit the idiosyncrasies of foreign markets and boost the growth of value-added exports. Originality/value – The study explores past literature to screen and evaluate the effect of EPPs and entrepreneurial development to boost export growth in Ghana – Sub-Sahara Africa.

scholarly journals The governance-performance relationship: evidence from Ghana

2016 ◽  
Vol 17 (3) ◽  
pp. 285-310 ◽  
Author(s):  
Andrews Owusu ◽  
Charlie Weir
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Fixed Effects ◽  
Developing Economies ◽  
Policy Makers ◽  
Content Type ◽  
Governance Index ◽  
Code Of Corporate Governance ◽  
The Impact ◽  
Post Code

Purpose The purpose of this paper is to investigate the impact corporate governance, measured by a governance index, on the performance of listed firms in a developing economy, Ghana. It also evaluates the effect of the introduction of a code of corporate governance on compliance rates across Ghanaian firms as well as assessing the impact of the code’s introduction on firm performance for the study period 2000-2009. Design/methodology/approach The paper develops a Ghanaian corporate governance index (GCGI) containing 33 provisions to measure corporate governance quality during the pre-code and the post-code sub-periods. The authors use a panel data analytical framework and fixed effects regressions to analyse the governance-performance relationships. Findings After controlling for endogeneity, the authors find a statistically significant and positive relationship between the GCGI and firm performance. The analysis shows evidence of a statistically significant increase in the degree of compliance with the Ghanaian Code from the pre-2003 sub-period to the post-2003 sub-period. The authors also find that the introduction of the code has led to improved firm performance. However, not all elements of corporate governance appear to have a significant effect on firm performance. Research limitations/implications One limitation of this study is the development of a corporate governance index. The binary coding used to construct the GCGI may not reflect the relative importance of the different corporate governance provisions. This means that all elements included in the index are given equal weighting. Future research may assign weights to each of the corporate governance provisions but this may have the disadvantage of making subjective judgements relative to the importance of each corporate governance provision recommended by the Ghanaian Code. Practical implications These results have important implications for both policy makers and companies. For policy makers, it is encouraging for the development of a code of corporate governance to regulate firms rather than enforcing rigid laws that may not be value relevant. For companies, the improvement in compliance with a code of corporate governance can provide a means of achieving improved performance. Originality/value This paper adds to the limited evidence on the governance-performance relationship in developing economies and in particular it analyses the role of a governance index. It is also the first paper to compare the pre- and the post-code governance index-performance relationship in an African or developing country.

scholarly journals Risk Profile, Secure Bond, and Bond Rating in Banking Industry

The Winners ◽  
2020 ◽  
Vol 21 (1) ◽  
pp. 49
Author(s):  
Erin Wijayanti ◽  
Indah Yuliana
Keyword(s):  
Banking Industry ◽  
Stock Exchange ◽  
Risk Profile ◽  
Partial Least Square ◽  
Least Square ◽  
Bond Ratings ◽  
Bond Rating ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect

The research aimed to assess the impact of the Risk Profile on the banking industry bond ratings in Indonesia Stock Exchange (IDX) and have a rating for bonds at PT PEFINDO. Sampleswere selected by purposive sampling method. The population were banks listed on the Indonesia Stock Exchange in 2015-2018. The population was 44 banks and 16 banks were selected as samples. The analysis a used descriptive statistics and Partial Least Square (PLS) for testing structural and structural models. The results show that Non-Performing Loan (NPL)and Loan to Deposit Ratio (LDR) directly have a significant direct positive effect on bond ratings, and security directly do not have a significant effect on bond ratings, security strengthen risk relationships credit with a bond rating. However, security weakens the relationship between liquidity risk and the bond rating. The variables indicate that these variables can explain the bond rating of 44,4% while the remaining 55,6% is influenced by other variables not contained in the research model.

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