Version-2 (Sep-Oct 2015)
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| Paper Type | : | Research Paper |
| Title | : | Trade Liberalization and Economic Growth in China Since 1980 |
| Country | : | India |
| Authors | : | Dr. Pratibha Tiwari || Preeti Sharma |
Abstract: The aim of this study is to explore the causality relationship between the foreign trade and economic growth of Chinese economy using time series data running from 1980 to 2013.Co integration, Granger Causality analysis and Vector Error Correction Mechanism (VECM) has been used in order to test the hypotheses about the presence of causality and co integration between the two variables. The co integration test confirmed that foreign trade and GDP are co integrated, indicating an existence of long run equilibrium relationship between the two as confirmed by the Johansen co integration test results. The Granger causality test finally confirmed the presence of bi-directional causality.
Keywords: Foreign Trade, Economic Growth, Exports, Co integration, Granger Causality
[1]. Attri, V.N (1996). Export-Led Growth in Developing Countries (1960-80). The Indian Economic Journal, Volume 43(3).
[2]. Balassa B. (1978), ―Exports and Economic Growth: Further Evidence‖, Journal of Development Economics, Vol. 5 (2).
[3]. Blanchard O., Giavazzi F. (2005). Rebalancing Growth in China : A Three Handed Approach, MIT working papers, Vol.32.
[4]. DEAN, J., K.C.FUNG,WANG ZHI, (2008), ―How Vertically Specilaized is Chinese Trade‖, U.S. International Trade Commission Working Paper, n° 2008-09-D.
[5]. Emery, R.F (1967). The Relation of Exports and Economic Growth. Kyklos, Volume 20 (2): 470-86.
[6]. Erfani, G.R. (1999). Exports and Economic Growth in Developing Countries. International advances in economic research, Volume. 5.
[7]. Feder, G. (1983). On Exports and Economic Growth. Journal of Development Economics, Volume 12 (1-2).
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| Paper Type | : | Research Paper |
| Title | : | The empirical validity of the theory of purchasing power parity in its relative version between Morocco and Spain |
| Country | : | Marocco |
| Authors | : | Cheklekbire Malainine || Rachid Hasnaoui |
Abstract: Today, the exchange rate is one of the most important instruments of economic policy of the opened countries. It is considered a tool of outside competitiveness as well as a mean of monetary regulation. The monetary authorities often intervene to stabilise the exchange rates. In light of this finding, based on current theories of purchasing power parity (PPP), this work will address a model to test the empirical validity of the PPP theory in its version relevant to relationship between Morocco and Spain during the period (3: 2009-12: 2011), on a monthly basis. We can say that the price corresponding to the PPA cannot be considered as along-termequilibriumrate. The reported results show a deviation of the observedrate with respect of the theoretical rate during the time.
[1] Bénassy A. (1993) « comment se fixent les taux de change ? Un bilan » Economie et prévision N°107, Janvier.
[2] Ginovannetti G. (1993) : "Théorie de la parité des pouvoirs d'achat : les difficultés d'une vérification empirique" Problèmes économiques N° 2314 du 24 Fév.
[3] Bourguinat H. (1992) "Finance internationale" Ed. Presses universitaires de France.
[4] Bourguinat H. (1995) "Finance internationale" Ed. Presses universitaires de France.
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| Paper Type | : | Research Paper |
| Title | : | Deconvolution and Interpretation of Well Test Data 'Masked' By Wellbore Storage in A Build Up Test |
| Country | : | Nigeria |
| Authors | : | Akintola A. S || Oriji. A. B || Duru K.M |
Abstract:When a well test contains a series of different flow rates, or a continuously varying flow rate, the combination of the pressure transients due to varying flow rate is called convolution. while deconvolution means removing a distorting effect upon the variable of interest. This paper is on the study of an analytical technique that can be used to explicitly deconvolve wellbore storage distorted well test data using pressure data and the flow rate. Then to determine the reservoir properties from this deconvolved well test data by using the conventional well test interpretation methods. Also the comparison of the material balance deconvolution method results with the β-deconvlolution method result were carried out and then used to determine which method was a better deconvolution tool.
[1]. Bassey, E.E: (1997) ‖Deconvolution of Pressure Buildup Data Distorted by Wellbore Storage and Skin in Horizontal Wells‖ M.sc
Thesis, University of Ibadan, Nigeria
[2]. Bourdet D, Ayoub, J.A and Pirard, Y.M(1998): ‖Use of pressure derivation in well test interpretation‖ SPEFE 293-302.
[3]. Horner, D.R(1951):‖Pressure Build-up in Wells‖. Proc.Third World Pet. Cong, E.J. Brill, leiden , 503-521.
[4]. Igbokoyi, A.O(2007):‖ Deconvolution of pressure buildup data distorted by wellbore storage‖ An M.sc Thesis in Petroleum
Engineering University of Ibadan, Nigeria.
[5]. kuchuk, F. J(1985):‖well testing in low transmissivity oil reservoir‖ paper SPE 13666 .SPE California Regional Meeting,
Bakersfield, March 27-29
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| Paper Type | : | Research Paper |
| Title | : | Analyzing the Attitude of Customers towards Islamic Banking and Conventional Banking in Bangladesh |
| Country | : | Bangladesh |
| Authors | : | Farah Rezwan || Samia Shabnaz || Bohi Shajahan |
Abstract: Bangladesh is a country where both Islamic and conventional banks contribute to the economic development. Although relatively new in Bangladesh and contributing to a small portion of the banking sector, Islamic banks have played a pivotal role in improving the banking sector by providing services which are more based on the beliefs of the Muslims. This study aims to compare the attitude of Islamic and conventional banks' customers towards various aspects of banking in order to identify which bank has better performance in customer's perspective.
[1] Rahman, A.R.A, Islamic banking and finance: between ideals and realities, IIUM Journal of Economics and Management, 15(2),2007, 123-141. [2] Hassan, M.K., Islamic banking in theory and practice: The experience of Bangladesh, Managerial Finance, 25(5), 1999, pp. 60. [3] Nasir, M. and Hafiz, A., Principles and practices of islamic banking and finance (Kuala Lumpur, Prentice Hall, 2008) [4] Rammal, H.G., Zurbruegg, R., Awareness of Islamic banking products among Muslims: The case of Australia. Journal of Financial Services Marketing, 12, 2007, 65–74. [5] Cohen, D., Gan, C., Yong, H. H. A., and Choong, E.,Customer satisfaction: a study of bank customer retention in New Zealand, Commerce Division, Discussion Paper No. 109. Canterbury: Lincoln University, 2006. [6] Kaynak, E., Kucukemiroglu, O., & Odabasi, Y, Commercial bank selection in Turkey, International Journal of Bank Marketing, 9(4),1992.
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| Paper Type | : | Research Paper |
| Title | : | Rationality of Bangladesh to Join in BRICS for adapting the Global Economic Insurgency |
| Country | : | Bangladesh |
| Authors | : | Dr. Mostafa Kamal || Aminul Haque Russel || Lakkhan Chandra Robidas |
Abstract: The initiation of BRICS Bank has come at the right moment to make the global financial architecture broad-based for funding the need of the developing world breaking the domination of the World Bank (WB) and International Monetary Fund (IMF). This study is based on the assumptions that there is the rationality of Bangladesh to join in BRICS for adapting the global economic Insurgency. The type of the study is descriptive and the sources of data are secondary. In this paper we have analyzed and compared the main economic indicators of Bangladesh and BRICS countries – like GDP, FDI, Inflation rate, unemployment rate, Export and Import etc.
[1]. Griffith-Jones, S, A BRICS Development Bank: A Dream Coming True? UNCTAD Discussion Papers, No. 215, March 2014.
[2]. M. Carlos, P, South America and the Caribbean, where the BRICS challenges the old world order, The Patria Grande, February 3, 2012. Available from: www.rebelion.org/noticia.php?id=144044
[3]. O‟Neill, J, BRICs‟ rapid growth tips the global balance, The Telegraph, November 20, 2011.
[4]. Demir, O, Is Turkey Far from BRIC Countries?, International Journal of Business and Social Science,4(5), 2013, 136-141.
[5]. Kim, J. Y., and Cai, J. Y, Press Conference, Beijing, July 8, 2014 Available from: http://www.worldbank.org/en/news/speech/2014/07/08/press-conference-world-bank-group-president-jim-yong-kim-ifc-ceo-jin-yong-cai-beijing.
[6]. Alam, S, Interview with, Professor Shamsul Alam, [risingbd.com], July 26, 2014, Available from: http://www.risingbd.com/english/Bangladesh_may_join_BRICS_bank/16546
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| Paper Type | : | Research Paper |
| Title | : | Motivation of Non Registered Auditor to Take Profession of Accountant Education (PPAK) |
| Country | : | Indonesia |
| Authors | : | Rialdi Azhar || Aulia Fuad R || Erwin Saraswati |
Abstract: This study aimed to examine the influence of motivation of quality, career, economic, seeking knowledge, degree, and taking USAP over the non-registered auditor's interest in taking PPAk after the change in the regulation. This study obtained responds from 46 auditors who have not taken PPAk or non-registered auditors. Double linear regression technique was used in this study to examine the research data using Smart PLS software. Result analysis of this model indicated that quality and career motivation variable positively influence the non-registered auditor's interest in taking PPAk, meanwhile economic, seeking knowledge, degree and taking USAP did not influence the non-registered auditor's interest in taking PPAk.
[1]. Andri, S. 2010. Pengaruh Gaya Kepemimpinan, Budaya Organisasi, Motivasi Program Pendidikan dan Latihan Terhadap Kinerja dan Kepuasan kerja karyawan. Desertasi. Universitas Brawijaya Malang.
[2]. Bakre, O. 2006. Accounting education, training and the profession in the Commonwealth Caribbean: Integration or internationalisation. Accounting Forum 30, 285–313.
[3]. Benny, E., dan Yuskar. 2006. Pengaruh Motivasi Terhadap Minat Mahasiswa Akuntansi Untuk Mengikuti Pendidikan Profesi Akuntansi (PPAk). Simposium Nasional Akuntansi IX.
[4]. Gaspersz, V. 1997. Manajemen Kualitas Dalam Industri Jasa. Jakarta: Gramedia Pustaka Utama.
[5]. Ghozali, I. 2011. Aplikasi Analisis Multivariate Dengan Program IBM SPSS 19. Semarang: Badan Penerbit Universitas Diponegoro.
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| Paper Type | : | Research Paper |
| Title | : | Financial Statements Analysis: Wealth Creation and Wealth Maximisation at Telecom Company from 2010 To 2012 |
| Country | : | Zimbabwe |
| Authors | : | Nyashadzaishe Muzvondiwa || Cuthbert Muza |
Abstract: Information technology revolution has gained popularity with companies' success depending virtually on the exchange of information. As a result, it has brought to consideration the need to create and sustain technologies through which information can be transmitted and received, and the telecommunication industry has been a major development. The research paper seeks to analyse the financial statements of a telecom company to determine whether the company created wealth and suggesting ways to improve wealth creation. Factors such as operational results, key economic variables and customer satisfaction were explored. A questionnaire survey was employed to collect primary data. The questionnaires were distributed by hand and some were emailed.
[1]. Ackroyd S. & Hughes J.A. (1981). Data Collection in Context. Longman Press
[2]. Alexander D., Britton A. & Jorissen A. (2009). International Financial Reporting and Analysis. China: South Western Cengage
[3]. Bryant L. (2009). Unstructured Questionnaires. www.historylearningsite.co.uk
[4]. Cooper D. R. & Schindler P. S. (2011). Business Research Methods. McGraw Hill.
[5]. Gibson C.H. (2011). Financial Statements Analysis. (12thEdition). Canada: South Western Cengage
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| Paper Type | : | Research Paper |
| Title | : | The Impact Of Minimum Capital Requirements On Performance Of Commercial Banks In Zimbabwe |
| Country | : | Zimbabwe |
| Authors | : | Tough Chinoda || Charles Chingombe || Patson Chawuruka |
Abstract:The study was carried out to establish the impact of minimum capital requirements on the performance of commercial banks in Zimbabwe and to analyse the relationship between minimum capital requirements and bank performance. The study used the triangulation of a quantitative and qualitative research design where both primary and secondary data were used .The population under study was drawn from the entire commercial banking sector in Zimbabwe. Questionnaires and documentary analysis were used. The sample size of nine out of the fifteen commercial banks in Zimbabwe was used. Minimum capital requirement enable banks to make profits since meeting the minimum capital reduces the chances of bank distress as banks will not be pressured by short-term borrowing which is usually at high cost
Keywords: Minimum Required Capital, Bank Capital, Bank Performance, Capital Adequacy.
[1]. Aminu K and Kola G. (2004). Monetary Policy and Banks Profitability in Nigeria. First Bank of Nigeria Plc Bi-Annual Review, Dec
[2]. Akintonye V. And Somonye M, (200), Commercial banking crises in Kenya: Causes and remedies, Global Journal of Finance and Banking Issues Vol. 3
[3]. Basel Committee on Bank Supervision, BCBS (2006) International Convergence of Capital Measurement and Capital Standards: Bank for International settlement.
[4]. Chiuri, M. C., Feeri, G., & Majnoni, G. 2002. The Macroeconomic Impact of Bank Capital Requirements in Emerging Economies: Past Evidence to Assess the Future. Journal of Banking and Finance, Vol. 26, 881–904.
[5]. Kenya Centre for Research (2013) the Role of Capital Requirements on Bank Competition and Stability: The Case of the Kenyan Banking Industry .Kenya Centre for Research.WPS/02/13
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| Paper Type | : | Research Paper |
| Title | : | Determinants And The Impact Foreign Investment To Economic Growth And Unemployment In Java-Bali Region |
| Country | : | Indonesia |
| Authors | : | Christimulia Purnama Trimurti || Made Sukarsa || Made Kembar Sri Budhi || I Gusti Wayan Murjana Yasa |
Abstract: This study aims to find the determinants of foreign direct investment coming into the Java-Bali and analyze the impact of foreign investment on economic growth and unemployment in the Java-Bali. The research methodology used in this research is quantitative method using secondary data 2004-2012 period, using key informants and some informants who cooperate with foreign investors for a deeper investigation of some of the results of this study. This study uses Path analysis through partial least square (PLS). The study found wages and no significant negative impact on FDI, Economic Stability does not significantly affect the FDI, Human Capital and significant positive effect on FDI, Human Capital and significant positive effect on wages, FDI positive and significant impact on economic growth, FDI effect positive and significant impact on unemployment.
[1]. Agiomirgianakis George, et. al., (2006), The Determinants of Foreign Direct Investment: A Panel Data Study for The OECD Countries, City University London, Discussion Paper Series No.03/06, www.ideas.repec.org
[2]. Amal Mohamed, et.al., (2010), Determinants of Foreign Direct Investment in Latin America, Revista Journal Vol.4 No.3, ISSN:1988-7116, www.gcg.universia.net
[3]. Armstrong Shiro, (2009), Japanese FDI in China: Determinants and Performance, Asia Pacific Economic Papers No.378, Australia-Japan Research Centre, The Australian National University, www.scirus.com
[4]. Anthony Wambugu, (2003), Education, Employment and Earnings in Kenya; Economic Studies, Department of Economics School of Economics and Commercial Law Goteborg University, ISBN 91-88514-83-8, ISSN 1651-4289 print
[5]. Arsyad Lincolin, (1999), Pengantar Perencanaan dan Pembangunan Ekonomi Daerah, Edisi Pertama, BPFE Yogyakarta
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| Paper Type | : | Research Paper |
| Title | : | Long Run Impact of Exchange Rate on Nigeria's Industrial Output |
| Country | : | Nigeria |
| Authors | : | Ilechukwu, Ifeoma N. || Nwokoye, Ebele S. |
Abstract: While many scholars have carried out a lot of research on the impact of exchange rate volatility and price shocks on economic growth, this study departs from previous studies and seeks to provide suggestions for Nigerian policy makers on the attainment of an ideal exchange rate necessary to boost industrialization and industrial output. The economies of all the countries of the world are linked directly or indirectly through asset and goods markets. This linkage is made possible through trade and foreign exchange. The price of foreign currencies in terms of a local currency (i.e. foreign exchange) is therefore important to the understanding of the growth trajectory of all countries of the world. The consequences of substantial misalignments of exchange rates can lead to output contraction and extensive economic hardship.
[1]. Adebiyi, M. A. & Dauda, R. O. S. (2009, August, 24th - 26th). Trade liberalization policy and industrialization growth performance in Nigeria: An error correction mechanism technique. Proceedings of the 45th Annual Conference of the Nigerian Economic Society. Central Bank of Nigeria Auditorium, Abuja.
[2]. Aghion, P. P., Bacchetta, R., Ranciere, R. & Rogoff, K. (2006). Exchange rate volatility and productivity growth: The role of financial development. Journal of Monetary Economics, 56(4), 494–513.
[3]. Akpan, P. L. (2008). Foreign exchange market and economic growth in emerging petroleum based economy: Evidence from Nigeria (1970-2003). African Economic and Business Review, 6(2), 46-58.
[4]. Akpan, E. O., & Atan, J. A. (2011). Effects of exchange rate movements on economic growth in Nigeria. CBN Journal of Applied Statistics, 2(2), 1-7.
[5]. Arratibel, O., Furceri, D., Martin, R., & Zdzienicka , A. (2009). The effect of nominal exchange rate volatility on real macroeconomic performance in the CEE countries. Gate Groupe d‟Analyse et de Théorie Documents de Travail, Working Papers, W.P. 09-34.
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| Paper Type | : | Research Paper |
| Title | : | Impact of Foreign Debt on Economic Growth in Zimbabwe |
| Country | : | Zimbabwe |
| Authors | : | Amos Tendai Munzara |
Abstract: The study investigates the impact of foreign debt on economic growth in Zimbabwe. Time series data covering the period 1980 -2013 is analysed using ordinary least squares regression. Labour force, capital investment, and trade openness are used as control variables. The results show that external debt and trade openness impact negatively on economic growth in Zimbabwe while capital investment and labour force growth has a positive effect. The study recommends that the country should not heavily rely on foreign borrowing to finance economic growth but should rather create a conducive environment for alternative sources of foreign funds such as project finance and foreign direct investment. It is further recommended that the country should curb excessive imports of consumables and encourage value-added exports by local manufacturers.
Key words: foreign debt, economic growth, debt crisis, debt forgiveness
[1]. Baumol, W.J., and Blinder, A. S. (2009). Macroeconomics: Principles and Policy (11th edition). USA: South- Western Cengage Learning.
[2]. Chinanasa, P. (2015). Mid Term Fiscal Policy Review, August 2015.
[3]. Fosu, A. K. (2010). The external debt burden and economic growth in the 1980s: Evidence from Sub-Saharan Africa. Canadian Journal of Development Studies, Vol. 20, No.2.
[4]. Geiger, L.T. (1990). Debt and economic development in Latin America. The Journal of Development Areas, Vol. 24 pp 181-194.
[5]. Paudel, R.C. and Perera, N. (2009). Foreign debt, trade openness, labour force, and economic growth: Evidence from Sri Lanka. The Icfai University Press, Australia.
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| Paper Type | : | Research Paper |
| Title | : | Effect of Credit Risk Management Practices on Profitability of Listed Commercial Banks at Nairobi Securities Exchange in Kenya |
| Country | : | Kenya |
| Authors | : | Benson Mwai Karugu || Dr. John Ntoiti |
Abstract: The study sought to analyze the effect of credit risk management practices on profitability of listed commercial banks at Nairobi Security Exchange in Kenya. A descriptive research design was adopted. The population comprised of listed commerical banks where a sample of 55 employees was purposively sampled. It was established that credit appraisal practices had a significant positive effect on profitability and that it explained 14.4% of the variations in profitability. The results also found that credit monitoring had a significative positive effect on profitability and that 47.8% of the variance in profitability. The findings further, indicated that debt collection practices had a positive and significant relationship and explained 17.4% of the variations in profitability.
[1]. Central Bank of Kenya (2015).Bank Supervision Annual Report 2015. Central Bank of Kenya, Nairobi.
[2]. Gil-Diaz, F. (2008) The Origin of Mexico's 1994 Financial Crisis, The Cato Journal, vol.17, No.3, http://www.cato.org/pubs/journal/cj.
[3]. Gizycki M (2001). The Effect of Macroeconomic Conditions on Banks' Risk and profitability., RBA Research Discussion Papers rdp2001-06, Reserve Bank of Australia (Downloadable)
[4]. Kargi, H.S. (2011). Credit Risk and the Performance of Nigerian Banks, Ahmadu Bello University, Zaria.
[5]. Kithinji, A. M. (2010).Credit Risk Management and Profitability of Commercial Banks in Kenya. Unpublished Masters Thesis. University of Nairobi
[6]. Mishkin A.K. (2004).The Economics of Money, Banking and Financial Markets. Addition – Wesley 5thEdition.
[7]. Mugenda, O. M. and Mugenda, A. G. (2003).Research Methods: Quantitative and Qualitative Approaches, Acts Press, Nairobi-Kenya
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| Paper Type | : | Research Paper |
| Title | : | The Impact of Corporate Tax Rates on Total Corporate Tax Revenue: The Case of Zimbabwe (1980-2013). |
| Country | : | Zimbabwe |
| Authors | : | Amos Tendai Munzara |
Abstract: The study investigates the impact of corporate tax rate on corporate tax revenue in Zimbabwe using annual data for the period 1980 to 2013. The corporate tax revenue is used as the dependent variable while corporate tax rate is the independent variable. Gross Domestic Product (GDP), Foreign Direct Investment, inflation and drought are used as control variables. The research employs the Error Correction Model (ECM). The results show that corporate tax rate and FDI do not significantly affect corporate tax revenue in Zimbabwe. GDP and drought are found to have a significant positive impact on corporate tax revenue while inflation has a highly significant negative effect.
Key words: corporate tax rate, corporate tax revenue, revenue productivity
[1]. Brandao, M. F. E; Da Silva, M. F. V and Monteiro, M. R. (2011). A Panel Data Econometrics Study of Corporate Tax revenue in European Union: Structural, Cyclical Business and Institutional Determinants. FEP Working Papers
[2]. Brill. A and Hasset. A. K (2007). Revenue Maximising Corporate Income Taxes: the Laffer curve in OECD, AEI Working Paper, July 31, 2007.
[3]. Clausing, K. A. (2007). ―Corporate tax revenues in OECD countries‖, in International Tax and Public Finance, Springer, pp. 115-133.
[4]. Clausing, K. A. (2007). Closer Economic Integration and Corporate Tax Systems, Reed College 3203 SE Woodstock Blvd. Portland OR 97002.
[5]. Gujarati, D. N. (2004). Basic Econometrics (Fourth Edition). McGraw Hill Companies