scholarly journals Impact of Investment in Tourism Infrastructure Development on Attracting International Visitors: A Nonlinear Panel ARDL Approach Using Vietnam’s Data

Economies ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 131
Author(s):  
Quang Hai Nguyen
Keyword(s):  
Positive Impact ◽  
Infrastructure Development ◽  
Distributed Lag ◽  
Panel Ardl ◽  
Long Run ◽  
Ardl Approach ◽  
Short Run ◽  
Using Data ◽  
International Visitors ◽  
The Impact

Investment in tourism infrastructure development to make destinations and services increasingly attractive is considered a key measure in developing a country’s tourist destinations. This paper investigates the impact of investment in tourism infrastructure components on international visitor attraction using data from Vietnam for the period 1995–2019. The results of analyzing panel data by the nonlinear Autoregressive Distributed Lag (ARDL) approach show that, in the long-run, investing in the three components of tourism infrastructure, namely transport and communications infrastructure, the hotel and restaurant industry, and recreation facilities, has a strong and positive impact on international visitor attraction. In addition, different short-run impacts of the three tourism infrastructure components on the whole market and each major international visitor market are also found.

SHORT-RUN AND LONG-RUN IMPACT OF INFLATION, UNEMPLOYMENT, AND ECONOMIC GROWTH TOWARDS POVERTY IN INDONESIA: ARDL APPROACH

2019 ◽  
Vol 2 (1) ◽  
pp. 15
Author(s):  
Ahmadi Murjani
Keyword(s):  
Economic Growth ◽  
Poverty Alleviation ◽  
Macroeconomic Variables ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Ardl Approach ◽  
Short Run ◽  
The Government ◽  
The Impact

 Poverty alleviation has become a vigorous program in the world in recent decades. In line with the efforts applied by the government in various countries to reduce poverty, some evaluations have been practised. The impacts of macroeconomic variables such as inflation, unemployment, and economic growth have been commonly employed to be assessed for their impact on the poverty. Previous studies in Indonesia yielded mix results regarding the impact of such macroeconomic variables on the poverty. Different methods and time reference issue were the suspected causes. This paper aims to overcome such problem by utilising the Autoregressive Distributed Lag (ARDL) equipped with the latest time of observations. This paper finds in the long-run, inflation, unemployment, and economic growth significantly influence the poverty. In the short-run, only inflation and economic growth are noted affecting poverty significantly. 

scholarly journals Effects of Agricultural, Manufacturing, and Mineral Exports on Angola’s Economic Growth

Energies ◽  
2020 ◽  
Vol 13 (6) ◽  
pp. 1494 ◽  
Author(s):  
Titus Isaiah Zayone ◽  
Shida Rastegari Henneberry ◽  
Riza Radmehr
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Dutch Disease ◽  
Ardl Model ◽  
Agricultural Exports ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Using Data

This study investigates the effects of Angola’s agricultural, manufacturing, and mineral exports on the country’s economic growth using data from 1980 to 2017. An Autoregressive Distributed Lag (ARDL) model is employed to estimate the effect of sectoral exports on economic growth. The estimation results show that while exports from all three sectors (manufacturing, mineral, and non-mineral) have driven Angola’s economic growth in the long-run; only non-manufacturing (agricultural and mineral) exports have led its growth in the short-run. Moreover, growth in non-export GDP was driven by mineral exports in the long-run and agricultural exports in the short-run. Considering the statistically significant and positive impact of mineral exports on the Angolan GDP as well as on its non-export GDP, this study points to a lack of evidence supporting the Dutch disease phenomenon in Angola.

scholarly journals Liquidity commonality-economic cycle nexus in emerging Asian economies: An ARDL approach

2021 ◽  
Vol 8 (6) ◽  
pp. 26-39
Author(s):  
Syeda Hina Zaidi ◽  
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Policy Coordination ◽  
Market Liquidity ◽  
Economic Cycle ◽  
Long Run ◽  
Ardl Approach ◽  
Asian Economies ◽  
Short Run ◽  
The Impact

This study investigates the impact of liquidity commonality on the economic cycle for 7 emerging Asian economies over a period of 1997-2018, using Autoregressive Regressive Distributed Lag (ARDL) approach to Cointegration. Gross domestic investment, total consumption expenditure, net trade, and unemployment rate are studied as macro variables in the analysis. The nexus has been discussed both in the short-run and long-run. A significant relationship between economic growth and stock market liquidity commonality is found for large economies including China, India, Indonesia, and Malaysia; however, we found mixed evidence regarding the direction of the relationship for different economies. The aggregate analysis revealed that liquidity commonality has a positive impact on economic growth in the short-run and a negative association in the long-run. As a non-diversifiable risk factor, liquidity co-movement shocks spread the market wide and disrupt the overall functioning of financial markets and eventually affect the economy. For regulators and policymakers and particularly for those in emerging economies, understanding the factors affecting economic cycles and recognizing their dynamics and magnitude is important for policy coordination and market development. Further, the firms in Asian markets operate in legal and regulatory environments distinct from those of firms analyzed in the previous literature. A major knowledge gap pertaining to Asian emerging markets serves as the primary motivation for this study.

scholarly journals Financial Development, Financial Openness and Economic Growth in Nigeria

2021 ◽  
Vol 11 (3) ◽  
Author(s):  
Christian E. Bassey ◽  
Okoiarikpo Benjamin Okoi ◽  
Ikpe Kingsley Imoh
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Financial Distress ◽  
Positive Impact ◽  
Financial Openness ◽  
Insurance Sector ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study examined the impact of financial development and financial openness on economic growth in Nigeria between 1981 and 2019. This was done through the use of the Auto-Regressive Distributed Lag (ARDL) model. In doing this, the ratio of credit to the private sector to the GDP and broad money to narrow money were used as measures of financial development and financial openness respectively. The study found that financial development has a positive and insignificant impact on economic growth in Nigeria in the long and short-run. The study also found that financial openness has a negative and insignificant impact on economic growth in Nigeria in the long-run. The results of the study further revealed that simultaneous existence of financial development and financial openness has an insignificant but positive impact on economic growth in Nigeria in the long-run. Based on the findings, the study recommended that the CBN should increase its efforts towards the regulation and supervision of the financial sector to reduce the incidence of financial distress. The study also recommended that efforts to develop the mortgage and insurance sector and the capital market should be intensified through regulatory improvements, improvements in the instruments in use in the market as well as public enlightenment programs to increase awareness of the potentials of the mortgage, insurance and capital markets. The final recommendation made by the study is that more restrictions should be placed on the inflow of capital in and out of the country to guard against sudden capital flow reversals.

scholarly journals Policy, Institutions and Non-Oil Exports: Evidence from Nigeria

2015 ◽  
Vol 7 (11) ◽  
pp. 10
Author(s):  
Martins Iyoboyi ◽  
Abdelrasaq Na-Allah
Keyword(s):  
Secondary Sources ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Oil Exports ◽  
Short Run ◽  
Oil Sector ◽  
Using Data ◽  
The Impact

<p>In this paper, the impact of policy and institutions on non-oil exports in Nigeria is investigated, using data from secondary sources for the period 1961-2012, and implemented through the autoregressive distributed lag framework. Non-oil exports were found to have a long-run equilibrium relationship with policy and institutional variables. Money supply and exchange rate were found to be positively associated with and statistically significant determinants of non-oil exports in the long and short run. Fiscal deficit, interest rate, ‘constraints on the executive’ and openness were found to be inversely related to non-oil exports in both the short and long run. While inflation was found to be negatively related to non-oil exports in the short run, it is the reverse in the long run. An enhanced political institutional framework is required, that is attuned to growth in the non-oil sector of the economy, as a mechanism for improving the country’s non-oil exports.</p>

scholarly journals PENGARUH E-COMMERCE TERHADAP PERTUMBUHAN EKONOMI INDONESIA

Bina Ekonomi ◽  
2019 ◽  
Vol 22 (1) ◽  
pp. 43-62
Author(s):  
Rr. Getha Fety Dianari
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Rapid Development ◽  
Distributed Lag ◽  
Internet Users ◽  
Long Run ◽  
Short Run ◽  
Information And Communication ◽  
Transaction Value ◽  
The Impact

The rapid development of information and communication technology has caused the emergence of a new economy, indicated by the phenomenon of internet-based businesses or e-commerce. This research uses the Auto-Regressive Distributed Lag (ARDL) approach to analyzes the impact of e-commerce on Indonesia’s economic growth in 1996-2015. The results show that the development of e-commerce as represented by the increase of the number of e-commerce transaction value, the increase of the number of business websites, and the number of internet users is proven to bring positive impact on Indonesia’s economic growth. This validates the hypothesis which states the increasing number of e-commerce transaction value, which is formed by the interaction between business websites as the supply indicator and the internet users as the demand indicator, shall bring enhancement to the intensity of macroeconomic activities. However, the effect is only significant for the long-run relationship but is not significant in the short-run relationship. Keywords: e-commerce; economic growth; ARDL

Finance-institution-growth trilogy: time-series insights from South Africa

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Clement Olalekan Olaniyi ◽  
Adebayo Adedokun
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Positive Impact ◽  
Institutional Quality ◽  
Empirical Examination ◽  
Content Type ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Impact

PurposeThis study examines the moderating effect of institutional quality on the finance-growth nexus in South Africa from 1986 to 2015.Design/methodology/approachThis study adopts unit root tests, cointegration test and autoregressive distributed lag (ARDL) model.FindingsThe findings reveal that institutional quality constitutes a drain to the growth benefits of financial development (FD) in South Africa in the short-run while FD and institutional quality converge to enhance growth process of the country in the long-run. Also, the threshold of institutional quality beyond which institution stimulates strong positive impact of finance on growth is estimated to be 6.42 on a 10-point scale.Practical implicationsThis study, therefore, suggests that institutional quality matters in the way FD influences economic growth in South Africa. Hence, stakeholders are encouraged to trace and block lapses and loopholes in the institutional framework guiding financial system in South Africa so as to maximize growth benefits of FD.Originality/valueThis study contributes to the extant studies by introducing a country-specific analysis into the empirical examination of how institutional quality influences the impact of FD on economic growth. Also, this study deviates from other studies by determining the threshold of institutional quality beyond which FD stimulates strong positive effect on economic growth in South Africa

Investigating the Impact of Exchange Rate Volatility, Inflation and Economic Output on International Trade of India

2020 ◽  
Vol 68 (2) ◽  
pp. 207-226
Author(s):  
Aastha Arora ◽  
Sarika Rakhyani
Keyword(s):  
Exchange Rate ◽  
Positive Impact ◽  
Exchange Rate Volatility ◽  
Goods And Services ◽  
Economic Output ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Trade Of Services ◽  
The Impact

Four models have been constructed separately for exports of goods, imports of goods, exports of services and imports of services to explore the impact of exchange rate volatility, inflation and economic output on India’s foreign trade. AutoRegressive Distributed Lag (ARDL) bounds test run on monthly data over the period of 2011–2020 reports that in the long run, growth in production positively impacts the trade in goods and services. Rise in level of prices negatively impacts the exports of goods. In the short run, a rise in volatility brings a decline in the imports of goods but in the long run, it has a positive impact on the exports of goods. Volatile exchange rate has no impact on trade in services. An increase in inflation in the short run leads to a rise in the imports of goods but brings a decline in the trade of services.

scholarly journals The impact of military spendings on economic growth of Pakistan

2017 ◽  
Vol 1 (1) ◽  
pp. 53-64
Author(s):  
Sajjad ◽  
Tariq ◽  
Muhammad Tariq
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Long Run ◽  
Defence Spending ◽  
Augmented Dickey Fuller ◽  
Negative Effect ◽  
Short Run ◽  
The Impact

A sound national defence is extremely essential for a country’s sovereignty. The geostrategic position of Pakistan and its deterrence policy against neighbouring India have generally been the reasons for stringent military financing. Defence spending affects all sectors of the economy directly or indirectly. This study aims to investigate the influence of government military expenditures on the economic growth of Pakistan over the period 1987-2016. Augmented Dickey-Fuller test has been used for checking the unit root in the data. Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration has been applied to analyze the relationship between military spending and economic growth. The findings indicate that military expenditure has a positive impact on Pakistan's economic growth in the long-run, however it has negative effect on economic growth in the short-run.

scholarly journals Loan Growth and Bank Performance: A Panel ARDL Approach

2020 ◽  
Vol 23 (2) ◽  
pp. 97-108
Author(s):  
Jhabindra Pokharel
Keyword(s):  
Credit Risk ◽  
Performance Indicators ◽  
Stock Return ◽  
Distributed Lag ◽  
Panel Ardl ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Ardl Approach ◽  
Short Run ◽  
Loan Growth

This paper analyzed the effect of loan growth in three performance aspects, profitability, stock return and credit risk of Nepalese commercial banks applying the panel autoregressive distributed lag (ARDL) approach. To avoid the effect of the merger on loan growth 8 banks which have not merged with or acquired other institutions are taken as sample and 8-year data from each sample bank from 2012- 2019 has been sued in the study. The result showed that none of the three performance indicators is affected by the loan growth in the long-run. It is also found that the credit risk of banks does not change with the change in loan growth in the short-run as well. This indicates that banks are not aggressive in their lending. However, profitability and stock return are affected positively by the loan growth in the short-run. The findings from this study suggest to the investors in the stock market to choose the stock of bank with higher loan growth.

Sign in / Sign up

Export Citation Format

Share Document