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| Paper Type | : | Research Paper |
| Title | : | Economic Contribution of Women in Self Help Groups: Village Level Evidence from Odisha |
| Country | : | India |
| Authors | : | Gopabandhu Mohapatra || Dr. Rabi N. Patra || Dr. Mahendra P. Agasty |
Abstract: Women in Self Help Groups (SHGs) have made their mark in the rural economy in a quite non-traditional way. This paper examines the economic contribution of SHG women drawing on a field survey conducted in 20 villages by canvassing a structured schedule among 150 sample respondents of two blocks of Balasore district in Odisha, India. The findings show that women in SHG's have made a significantly positive contribution to employment, income, expenditure and saving at the household level. An increase in the demand for SHG products is required for improving productivity of women and enhancing their economic contribution in a sustainable way. A reorientation in policy is suggested for generating awareness, upgrading skills and expanding markets in order to augment their contribution and raise their empowerment level for the benefit of the households as well as for transforming the rural economy in a big way.
Keywords: Self Help Groups, Women empowerment, Financial inclusion
[1]. Ariz Ahamed M.(1999). Women empowerment: self help Groups. Kurukshetra 47(4),20.
[2]. Banerjee (Chatterjee), T.(2009)-"Economic Impact of Self Help Groups – a case study". Journal of Rural Development, 20(4), 451-467.
[3]. Desai Raj M. and Joshi S.(2013)-"can the poor be organized ? Evidence from Rural India- Global Economy and Development-,WP 61. 1-36.
[4]. Desai R. Uma(2013)-An Evaluative study on the Role of self help groups in Empowering women in India. The International Journal of Management, 2(1),1-36.
[5]. Geetamma K. and Bulla b.(2013) 5- Golden Research thought .
[6]. Geethanjali R., Pravakar K. (2013)-Economic Development of women through Self-Help Groups in YSR District Andhrapradesh, India, stud Home com sci., 7(1): 25-34
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| Paper Type | : | Research Paper |
| Title | : | Growth-Debt Nexus: An Examination of Public Debt Levelsand Debt Crisis in Zimbabwe |
| Country | : | Zimbabwe |
| Authors | : | Wellington Garikai Bonga || Frank Chirowa || Joseph Nyamapfeni |
Abstract: Government debt is an indirect debt of the taxpayers, and can be classified as internal or external. Debt crisis is the general term for a proliferation of massive public debt relative to tax revenues.Public debt enables governments to invest in critical areas of the economy where the capacity of tax revenue to undertake these projects may be limited or in situations where printing additional money will disrupt the stability of the economy. Government borrows in order defer difficult but necessary reforms such as the imposition of taxes which might be necessary to generate revenue for development. Countries with high public debt tend to grow slowly. The study examines the origin of debt crisis in Zimbabwe, debt nature, causes, consequences and possible ways of reducing the debt. The study uses 1980-2013 data to run an OLS model on economic growth using STATA Econometric Software, in an effort to explore the effect of external debt. The regression results shows that public debt has a negative effect on economic growth in Zimbabwe, which has varying theories prevailing. The study concludes by encouraging the government not to borrow unnecessarily, and to use borrowed funds for investment projects, rather than on consumption expenditure.
Key words:Public debt, Economic Growth, Budget Deficit, GDP, Debt Crisis
[1]. Arkoh Edwin (2013). Public Debt As An Alternative To Taxation…Causes And Consequences. Modern Ghana.
[2]. BaumAnja, Cristina Checherita-Westphal,and Philipp Rother (2012).Debt And Growth New Evidence For The Euro Area. Working Paper Series, No 1450. European Central Bank.
[3]. Blundell-Wignall Adrian (2012). Solving the Financial and Sovereign Debt Crisis in Europe. OECD Journal.
[4]. Cecchetti, Stephen G, Mohanty, Madhusudan S. and Zampolli, Fabrizio (2010). The Future of Public Debt: Prospects and Implications. BIS Working Paper No. 300.
[5]. Cecchetti, Stephen G,Mohanty, MadhusudanS. and ZampolliFabrizio (2011). The Real Effects of Debt. BIS Working Paper No. 352.
[6]. Checherita Cristina and Philipp Rother (2010). The Impact of High and Growing Government Debt On Economic Growth; An Empirical Investigation For The Euro Area. Working Paper Series No 1237.
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| Paper Type | : | Research Paper |
| Title | : | Effect of Stock Price Index in Global Stock againstComposite Stock Price Index (CSPI)Study on the Indonesia Stock Exchange |
| Country | : | Indonesia |
| Authors | : | Masno Marjohan |
Abstract: In Indonesia, investors who want to invest can conduct transactions at the Indonesia Stock Exchange. Indonesia Stock Exchange is a merger between the Jakarta Stock Exchange Surabaya Stock Exchange which was formed on 1 December 2007. In the stock market there is an index representing the movement of all shares listed publicly traded company to be traded, known as the stock price index. In the Indonesian Stock Exchange known as Composite Stock Price Index.Foreign investors to invest in the stock around the world so that the exchanges in the world has a linkage between global.
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[4]. Adhi Yunanto Yanuar. "Impact of Internal And External Variables Against Composite Stock Price Index (CPI) in Indonesia", 2013. (Journal of Brawijaya)
[5]. Ali Fikri Hasibuan. "Effect of Foreign Exchange Rate and Stock Price Index Global Movement Against JCI", 2009.
[6]. Ardian Agung Witjaksono. "Analysis of the Effect of Interest Rates, Prices of Oil World, World Gold Price Rupiah Exchange Rate, Nikkei 225, and Dow Jones Against JCI", 2009.
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| Paper Type | : | Research Paper |
| Title | : | Government budget control under the period of inflation: Evidence from Madagascar |
| Country | : | China |
| Authors | : | Mathilde Ardiphine Razanarivonjy |
Abstract: Madagascar is rich in resource undermine, maritime and natural but have been experiencing Inflation now for more than four decades. Many studies and papers talk about the relationship between Inflation and Budget Deficit. This paper seeks to test the hypothesis that budget control explicated by the budget deficit cause inflation in Madagascar with some variable economically affect the inflation such as Gross Domestic Product, exchange rate, Money supply, budget deficits and political crises that is during a thirty-three years period: from 1981to 2014. The methodology employed for estimating long-run relationship is Augmented Ducky Fuller test for a stationary data then cointegration analysis, with undertaking Granger causality tests. The findings of the study are Malagasy Budget control is not inflationary and the inflation didn't explain the budget control. But the variable that cause the inflation in Madagascar are the Political Crises and Money Supply
Key words: Budget Control, Budget deficit, Government Budget, Gross Domestic Product, Inflation, Madagascar
[1]. Agostinho S. Rosa, Inflation and Budget Deficit: What is the Relationship in Portugal?, Revista EconomiA (2011)
[2]. Aisen, A., & Hauner, D. (2008). Budget Deficit and Interest Rates. IMF Working Papers , 42, 1- 21.
[3]. Albert Makochekanwa, The impact of a budget deficit on inflation in Zimbabwe MPRA Paper No. 24227 ( 2010)
[4]. Augustine C. Arize and John Malindretos, ―DYNAMIC LINKAGES AND GRANGER CAUSALITY BETWEEN TRADE AND BUDGET DEFICITS: EVIDENCE FROM AFRICA‖ African Journal of Accounting, Economics, Finance and Banking Research, Vol. 2. No. 2. 2008.,
[5]. Aviral Kumar Tiwari and A. P. Tiwari, Fiscal Deficit and Inflation: An empirical analysis for India, The Romanian Economic Journal, Year XIV, no. 42 December 2011
[6]. B Imimole, A Enoma, Exchange Rate Depreciation and Inflation in Nigeria (1986–2008), Business and Economics Journal, Volume 2011: BEJ-28
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| Paper Type | : | Research Paper |
| Title | : | Artificial Financial Markets: Historical and Interdisciplinary Perspective |
| Country | : | Tunisia |
| Authors | : | Yosra Mefteh Rekik || Younes Boujelbene |
Abstract: This paper aims to present the architecture of an artificial stock market that considers the microstructure of existing markets and understanding the complex patterns and phenomena that are observed in economic systems. In agent-based financial market models, prices can be endogenously formed by the system itself as the result of interaction of market participants. We identify and describe the tasks and choices that different traders face based on their role in the market by tracing orders. We review the literature on these models and analyze their strengths, weaknesses, opportunities, and threats with special focus on traders. We conclude with seven recommendations to help guide the development of artificial markets as a venue for technological innovation research.
Keywords: Complex systems, Evolutionary Approach, Artificial Markets, SWOT analysis.
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| Paper Type | : | Research Paper |
| Title | : | Monetary Policy Shocks and Agricultural Output Growth in Nigeria |
| Country | : | Nigeria |
| Authors | : | ThankGod O. APERE || Tamarauntari Moses KARIMO |
Abstract: This paper investigated the transmission channel of monetary policy shocks to agricultural output growth over the period 1970 – 2012. Data were drawn from the Central Bank of Nigeria Statistical Bulletin, 2013. The study estimated a VAR model and showed that producers are able to effectively transfer increases in cost of production to the final consumer through increased prices; and that though monetary policy shocks, interest rate and consumer prices have dominant impacts on agricultural output growth in Nigeria, but that monetary policy shocks transmitted through the interest rate channel are more effective. It was therefore recommended that monetary policy efforts to revitalize the agricultural sector should focus more on the use of differential interest rates amongst other policy tools.
Keywords: Agriculture, Monetary Policy Shock, Nigeria
[1]. Apere, T. O. & T. M. Karimo, (2014). Monetary Policy Effectiveness, Output Growth and Inflation in Nigeria. International Journal of Economics, Finance and Management, 3(6), 301 – 307
[2]. Borio, C. (1995) 'The structure of credit to the non-government sector and the transmission mechanism of monetary policy: A Cross-Country Comparison,' Bank for International Settlement Working Paper, Basle, April.
[3]. Chuku, A. C. (2009). Measuring the Effects of Monetary Policy Innovations in Nigeria: A Structural Vector Autoregressive (SVAR) Approach. African Journal of Accounting, Economics, Finance and Banking Research, 5(5), 112-129.
[4]. Danjuma, I., Jbrin, S. M. & Success, E. B. (2012). An assessment of the effectiveness of monetary policy in combating inflation pressure on the Nigerian economy. Erudite Journal of Business Administration and Management, 1(1), 7-16.
[5]. Edoumiekumo, S. G., T. M. Karimo, & M. Amaegberi (2013). Real Sector Responsiveness to Monetary Policy Shocks in Nigeria. Journal of Research in National Development, 11(2), 269 – 277.
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| Paper Type | : | Research Paper |
| Title | : | Re-Investment Allowance, Investment Tax Credit, and the Reality of Corporate Cash Flow in Nigeria |
| Country | : | Nigeria |
| Authors | : | John Ohaka PhD || Daibi W Dagogo PhD |
Abstract: This study examines the influences of tax incentives on cash flow of manufacturing corporations in Nigeria. To do this, research questions were raised, hypotheses were formulated, sixty (60) quoted manufacturing companies in Nigeria constituted the sample of this study and secondary data from Nigeria Stock Exchange fact book were complemented with ordinal data collected via questionnaire. The stated hypotheses were statistically tested with paired t-test of two means from the same sample. T-test was eventually used because of the ordinal data, which might not satisfy the condition of normal distribution. Our findings revealed that tax incentives significantly increased the mean cash flows from financing, investing and operating activities of Nigerian manufacturing corporations. It was therefore recommended that Nigerian government should provide adequate tax incentives for manufacturers in Nigeria, if vision of becoming one of the top twenty nations by the year 2020 must be realized.
Keywords: Fiscal policy, Tax Incentives, re-investment allowance, cash flow, investment tax credit
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[2]. Aluko, S.A. (2001). Tax incentives for industrial development in Nigeria. Presented at UN Industrial Organization conference. (Unpublished): 55-60.
[3]. Andic,A (2005). Fiscal incentives for investment and innovation. Oxford University Press: 125.
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[5]. Bird, R.M. & Krugman, P. (2004). Agglomeration, integration and tax harmonization. European Economic Review. 48, 1 -23.
[6]. Bloom. N.R., Griffith and Van Reenen, .1. (2002). Do R & D tax credits work? Evidence from a panel of countries, 1979-1997. Journal of Public Economics. 85, 1-31.
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| Paper Type | : | Research Paper |
| Title | : | Determinants of Share Prices of listed Commercial Banks in Pakistan |
| Country | : | Pakistan |
| Authors | : | Zeeshan Arshad || Ali Raza Arshaad || Sohail Yousaf || Sulaman Jamil |
Abstract: The focus of this paper is to identify the determinants of share prices for the listed commercial banks in Karachi stock exchange over the period 2007-2013. One of the unique features of this paper is to find out the impact of both internal and external factors on share price. Linear multiple regression analysis is used to determine whether the selected independent variables have influence on share prices or not. The results indicate that earning per share has more influence on share prices and it has positive and significant relationship with share prices, book to market value ratio and interest rate have also significant but negative relation with share prices while other variables (gross domestic product, price earnings ratio, dividend per share, leverage) have no relationship with share prices. Keywords: Share prices, determinants, Linear multiple regression, earning per share, book to market value ratio, interest rate, gross domestic product, price earnings ratio, dividend per share, leverage
[1]. Nguyen, Tho, and Chau Ngo "Impacts of the US Macroeconomic News on Asian Stock Markets" Journal of Risk Finance, the 15, no. 2 (March 17, 2014): 149–79.
[2]. Almumani "Determinants of Equity Share Prices of the Listed Banks in Amman Stock Exchange: Quantitative Approach "‟ International Journal of Business and Social Science Vol. 5 No. 1; (January, 2014); 91-104
[3]. Gupta, Rangan, and Monique Reid. "Macroeconomic Surprises and Stock Returns in South Africa." Studies in Economics and Finance 30, no. 3 (July 26, 2013): 266–82.
[4]. Malhotra and Tandon "Determinants of Stock Prices: Empirical Evidence from NSE 100 Companies "‟ International Journal of Research in Management & Technology (IJRMT), Vol. 3, No.3, (June 2013): 2249-9563
[5]. Naveed and Ramzan "A View about the determinants of change in share prices: A case from Karachi Stock Exchange (banking sector)‟‟ interdisciplinary journal of contemporary research in business Vol 4, no 12 (April, 2013):41-57
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| Paper Type | : | Research Paper |
| Title | : | Foundations of Financial Sector Mechanisms and Economic Growth in Emerging Economies: A Panel–Data Approach towards a Nexus |
| Country | : | Bangladesh |
| Authors | : | Safaeduzzaman Khan |
Abstract: In this paper, we try to uncover the economic foundations of financial sector development and its impacts on accelerating economic growth in the given context of emerging economies. We theorize and empirically test a causally-motivated relationship among economic growth and related key financial sector variables pertinent to this problem. We accomplish this by analyzing a 20 year panel-data constructed for 30 countries falling within the categorization of an 'emerging economy'. We estimate the appropriate statistical models along with related diagnostic tests. Finally, we comment on the strengths and weaknesses of our approach and we try to explicate the economic rationale and justification for our formulation and the evidences that follow.
Keywords: Economic Growth, Financial Development, Emerging Economies, Panel Data
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