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.

scholarly journals Theoretical Review of the Impact of Fiscal Deficits on Economic Growth in Nigeria

2021 ◽  
Vol 17 (1) ◽  
Author(s):  
Bushi Kasimu Musa
Keyword(s):  
Economic Growth ◽  
Sustainable Growth ◽  
Empirical Literature ◽  
Fiscal Deficits ◽  
The Sustainable Development ◽  
Progressive Development ◽  
Development Goals ◽  
To Come ◽  
Sustainable Economic Growth ◽  
The Impact

The growth and persistence of fiscal deficits in both the industrialized and developing countries has brought the issue of fiscal deficits into sharp focus. Over the last decade, the growth impact of fiscal deficits has generated large volume of both theoretical and empirical literature. Despite the lofty place of fiscal policy in the management of the economy, the Nigerian economy is yet to come on the path of sound growth and development. The behaviour of fiscal deficits in Nigeria has followed unsteady pattern, assessing the significance of the policy deficits. The actualization of sustainable economic growth is more imperative such that the country is working towards achieving the sustainable development goals. The paper adopted a descriptive method to show the trend of fiscal elements in Nigeria with the aim of determining the relationship between the variables specified. The paper concludes that fiscal operation is ineffective in providing the needed macroeconomic environment for sustainable growth. This paper further suggests that powerful pro-stability stakeholders strong enough to challenge government fiscal recklessness will need to emerge for sustainable and progressive development to be attained at all levels.

scholarly journals What Drives Cross-Border Mergers and Acquisitions and Greenfield Foreign Direct Investment Capital Flows? Reconsideration in the Case of the Selected Former Yugoslav Countries

2021 ◽  
Vol 32 (3) ◽  
pp. 234-246
Author(s):  
Ksenija Denčić-Mihajlov ◽  
Vinko Lepojević ◽  
Jovana Stojanović
Keyword(s):  
Mergers And Acquisitions ◽  
Developing Economies ◽  
Random Effect ◽  
Random Effect Model ◽  
Foreign Direct Investments ◽  
Macroeconomic Factors ◽  
Fdi Inflows ◽  
Cross Border ◽  
Data Framework ◽  
The Impact

Bearing in mind the different nature and the impact of various types of foreign direct investments (FDI) on the one hand, and the specific macroeconomic environment in the post-socialist countries on the other hand, in this paper we reexamine the selected macroeconomic factors that affect the two types of FDI inflows (cross-border mergers and acquisitions and greenfield FDI) in four countries of the former Socialist Federal Republic of Yugoslavia. The study employs the balanced panel data framework and covers twelve-year period (2006-2017). Having performed the Hausman test, we use the random effect model and provide evidence that: (1) the key FDI macroeconomic determinants in stable business conditions, examined in numerous research studies, can have a different impact on FDI in times characterized by unstability and financial crisis, (2) some determinants of FDI inflows have different importance and direction in the case of cross-border M&A and greenfield FDI. Our findings are relevant for policymakers who should reconsider the key factors that fuel the FDI inflows towards their developing economies.

scholarly journals Risks and the influence of negative interest rates on economic activity: a case study of Sweden, Denmark, and Switzerland

2020 ◽  
Vol 15 (1) ◽  
pp. 30-41
Author(s):  
Liběna Černohorská ◽  
Darina Kubicová
Keyword(s):  
Time Series ◽  
Interest Rates ◽  
Granger Causality ◽  
Economic Activity ◽  
Central Banks ◽  
Time Interval ◽  
Short Term ◽  
Stock Indices ◽  
Negative Interest Rates ◽  
The Impact

The purpose of this paper is to analyze the impact of negative interest rates on economic activity in a selected group of countries, in particular Sweden, Denmark, and Switzerland, for the period 2009–2018. The central banks of these countries were among the first to implement negative interest rates to revive the economic growth. Therefore, this study analyzed long- and short-term relationships between interest rates announced by central banks and gross domestic product and blue chip stock indices. Time series analysis was conducted using Engle-Granger cointegration analysis and Granger causality testing to identify long- and short-term relationship. The first step, using the Akaike criteria, was to determine the optimal delay of the entire time interval for the analyzed periods. Time series that seem to be stationary were excluded based on the results of the Dickey-Fuller test. Further testing continued with the Engle-Granger test if the conditions were met. It was designed to identify co-integration relationships that would show correlation between the selected variables. These tests showed that at a significance level of 0.05, there is no co-integration between any time series in the countries analyzed. On the basis of these analyses, it was determined that there were no long-term relationships between interest rates and GDP or stock indices for these countries during the monitored time period. Using Granger causality, the study only confirmed short-term relationship between interest rates and GDP for all examined countries, though not between interest rates and the stock indices. Acknowledgment The paper has been created with the financial support of The Czech Science Foundation GACR 18-05244S – Innovative Approaches to Credit Risk Management.

Significant household factors that influence an IT employees’ job effectiveness while on work from home

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vivek Sridhar ◽  
Sanjay Bhattacharya
Keyword(s):  
Work Experience ◽  
Content Type ◽  
Factors Affecting ◽  
Job Effectiveness ◽  
Household Factors ◽  
Work From Home ◽  
It Employees ◽  
To Come ◽  
The Impact ◽  
At Home

Purpose The purpose of this study is to find out the significant factor/s relating to an information technology (IT) employee’s household that determines the job effectiveness of an employee. Design/methodology/approach The approach involves surveying IT employees from across levels of work-experience, companies and cities on household factors that affect their job effectiveness while they work from home and uses discriminant analysis to find out important factor/s that determines if an employee’s job effectiveness remains constant or is better at the workplace that at home. Findings The number of elderly staying in the house, age of the eldest member of the household, observable power cuts at home and number of cars owned by individuals were found to be significant factors affecting an IT employees’ job effectiveness. Originality/value The study targets a very niche area of the impact of household factors on an IT employee. The findings of this research enable IT organizations from India with insights and enable them to come up with innovative interventions to manage employees on a personalized basis to improve an employees’ job effectiveness and drive organizational effectiveness on a whole, during and post the COVID-19 pandemic.

scholarly journals Effectiveness of Central Bank Independence via Its Internal Characteristics

2011 ◽  
Author(s):  
Caroll H. Griffin
Keyword(s):  
Central Bank ◽  
Informal Economy ◽  
Developing Economies ◽  
Developed Countries ◽  
Central Banks ◽  
Central Bank Independence ◽  
Reserve Requirements ◽  
Formal Economy ◽  
The Impact ◽  
Macroeconomic Environment

This study examines central bank independence in developing countries of Latin America and Asia as well as selected developed countries. Many countries around the world, both developed and developing, have accepted the idea of central bank independence over the last several decades, so central banks have autonomy. A majority of studies has examined primarily the impact of central bank independence on inflation as promoting the theoretical benefits of a more stable and prosperous macroeconomic environment. However, there is only now sufficient data to empirically determine whether these claims are true. This research attempts to answer why developing economies with an informal sector resort to inflationary measures to finance their activities; how does a government induce an agent to choose the formal economy. In the trade-off between inflation and reserve requirements, the optimal policy is maximum inflation and minimum reserve requirements as increasing the steady-state utility of an optimizing agent. Also agents prefer the informal economy if policy relies on a maximum reserve requirement.  

scholarly journals The interest rate sensitivity of output and prices with different levels of financial inclusion

2019 ◽  
Vol 21 (2) ◽  
pp. 114-130
Author(s):  
Huong Thi Truc Nguyen
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Developing Economies ◽  
Sustainable Growth ◽  
Financial Inclusion ◽  
Content Type ◽  
The Interest Rate ◽  
The Impact ◽  
Panel Vector Autoregressions ◽  
Different Levels

Purpose The purpose of this paper is to evaluate the interest rate (IR) sensitivity of output and prices in developing economies with different levels of financial inclusion (FI) for the period 2007Q1–2017Q4. Design/methodology/approach By using the PCA method to construct an FI index for each country, the author divides the sample into two groups (high and low FI levels). Then, with panel vector autoregressions on per group estimated to assess the strength of the impulse response of output and prices to IR shock. Findings The findings show that the impact of an IR shock on output and inflation is greater in economies with a higher degree of FI. Practical implications The finding indicates the link between FI and the effectiveness of IRs as a monetary policy tool, thereby helping Central banks to have a clearer goal of FI to implement their monetary policy. Originality/value This study emphasizes the important role of FI in the economy. From there, an FI solution is integrated into the construction and calculation of its impact on monetary policy, improving the efficiency of monetary policy transmission, contributing to price stability and sustainable growth.

scholarly journals Shape of things to come: factors affecting an ethnographic study in radiation therapy

2011 ◽  
Vol 11 (1) ◽  
pp. 23-32
Author(s):  
Susan Merchant ◽  
Georgia Halkett ◽  
Moira O’Connor
Keyword(s):  
Decision Making ◽  
Qualitative Research ◽  
Ethics Committees ◽  
Research Process ◽  
Ethnographic Study ◽  
University Supervisors ◽  
Factors Affecting ◽  
Points Of View ◽  
To Come ◽  
The Impact

AbstractThe research process is a series of stages necessary to establish the integrity, value, and feasibility of a proposal. Part of the preparation is in understanding the process and factors that can contour a study. The aim of this paper is to outline the hidden factors that may be experienced when undertaking qualitative research. Although the participants are the main players of the study additional influences also require recognition to allow transparency of the project and the researcher’s stance. The guidance of university supervisors has the potential to influence the researcher’s perspective and the effectiveness of the study. Negotiation with clinical staff can add another dimension. Ethics committees are composed of individuals with varied expertise, bringing their points of view into the discussion and decision making, impacting further on the proposed research. It is important for medical radiations professionals who become involved in research to be aware of these factors and how they may influence a project and to acknowledge the impact of the perspectives of the researcher on the project. The significance of this paper is to provide novice researchers, an understanding of the influence, hidden factors play on the results of qualitative research with particular reference to ethnography.

scholarly journals How Green Possibilities Can Help in a Future Sustainable Conservation of Cultural Heritage in Europe

2021 ◽  
Vol 13 (7) ◽  
pp. 3609
Author(s):  
Francesca Di Turo ◽  
Laura Medeghini
Keyword(s):  
Cultural Heritage ◽  
New Technologies ◽  
Sustainable Growth ◽  
European Area ◽  
Heritage Science ◽  
To Come ◽  
Sustainable Conservation ◽  
Conservation Model ◽  
The Impact ◽  
Specific Definition

We are moving towards a future that must be more sustainable in several aspects of society. Culture and cultural heritage have been recognized as indispensable parts of the sustainable growth of society, and the conservation model implemented in Europe has been considered as an example to follow at the economic, environmental, and social levels. The achievement of excellent results and the development of new technologies for the conservation of cultural heritage have highlighted the fundamental need for a method of sustainable conservation. In this commentary paper, we discuss two aspects that can contribute to sustainability in the future of conservation science: the use of innovative chemical products and the monitoring of outdoor sites by means of the forecast of the impact of dangerous factors on artistic surfaces. We are focusing mainly on the material aspect of cultural assets and how hard science can help in sustainable conservation. Even if the concept of sustainability has an ever-growing presence in our society, and different approaches have been given in different fields, it is still difficult to come up with a specific definition that can include the various hues of the world of cultural heritage conservation. The case studies presented in this paper are related to the European area and the advancements made for the sustainable preservation of such heritage. Considering the results obtained from both the chemical and the forecast side, we will try to summarize concisely the tasks that must be achieved in order to indicate as sustainable an approach to diagnostics for cultural heritage, including both the trans-disciplinary features of cultural heritage science and the scientific conservation of materials.

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 Educational Level of Rural Labor, Population Urbanization, and Sustainable Economic Growth in China

2020 ◽  
Vol 12 (12) ◽  
pp. 4860 ◽  
Author(s):  
Shu Cao ◽  
Nannan Yu ◽  
Yang Wu ◽  
Zihe Wang ◽  
Jianing Mi
Keyword(s):  
Economic Growth ◽  
Basic Education ◽  
Compulsory Education ◽  
Education Level ◽  
Sustainable Growth ◽  
Rapid Urbanization ◽  
Rural Labor ◽  
Sustainable Economic Growth ◽  
Population Urbanization ◽  
The Impact

Since the 1978 economic reform, China has undergone a historical process of rapid urbanization. Although this process has been recognized as a key factor in the development of sustainable growth in China, low quality rural labor continues to limit the effectiveness of the country’s urbanization. Our study uses a spatial analysis framework to explore how the education level of rural laborers moderates the effect of urbanization on economic growth with provincial data collected from 1996 to 2015. Our results reveal that the influence of population urbanization on sustainable growth is mediated by the improvement of consumption capacity of urban dwellers and the industrial structural changes. The education level of rural laborers adjusts the urbanization’s influence on the consumption capacity of residents, which further affects economic growth. Empirical evidence indicates that the educationally limited rural population negatively moderates the impact of urbanization on sustainable economic growth by restraining the consumption capacity of migrating rural labor. It is also found that in some provinces with less-qualified rural labor, such as Gansu, Yunnan and Qinghai, population urbanization has not contributed to a corresponding economic growth, indicating that these provinces may have undergone urbanization without growth. These findings suggest that basic education is critical to the growth of income and consumption capacities of rural labor when laborers are migrating to urban areas. To achieve a valid urbanization process and sustainable growth, state and local governments must improve the basic education scheme, especially the nine-year compulsory education in Chinese rural areas through public financial investment and policy support.

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