Version-1 (May-June 2018)
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| Paper Type | : | Research Paper |
| Title | : | Impact of Goods and Service Tax on Indian Economy |
| Country | : | India |
| Authors | : | Abhishek Mehrotra || Dr. Rosy Kalra |
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: | 10.9790/5933-0903010105  |
Abstract: GST otherwise called the Goods and Services Tax is characterized as the mammoth indirect tax structure which is intended to help and improve the financial as well as the economic development of a nation. In excess of more than 150 nations have implemented GST up until this point. Nonetheless, the possibility of GST in India was mooted by Vajpayee Government in the year 2000 and the sacred change for the same was passed by the Lok Sabha on 6th May 2015.
[1]. https://gst.caknowledge.com/impact-of-gst-in-indian-economy/
[2]. "Goods and Service Tax Reforms and Inter Governmental Consideration in India"
[3]. https://taxguru.in/goods-and-service-tax/gst-india-basic-study.html
[4]. http://www.iasscore.in/topical-analysis/introduction-to-gst
[5]. https://drive.google.com/file/d/0Bza9UWwDHeLyUjZhNk5iX2Nac0U/view
[6]. "Goods and Service Tax-Panacea For Indirect Tax System in India"
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| Paper Type | : | Research Paper |
| Title | : | Modélisation KMVDe La Probabilité De Défaut De Remboursement : Application A La Bourse De Valeurs De Casablanca |
| Country | : | Maroc |
| Authors | : | Omar Hajaji || Khalifa Ahsina || Cheklekbire MALAININE |
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: | 10.9790/5933-0903010612 |
Abstract: The granting of the loan by a credit institution in Morocco is a very risky operation, indeed, according to the Global Failure Index of the firm Euler Hermes, Morocco is among the countries that will record the highest increases in insolvencies (+12 % in 2017), alongside China (+10%), the United Kingdom (+ 8%), Romania (+7%), and Poland (+5%). Financial literature in developed countries is rich in failure prediction models, pioneering models are Beaver (1966), Altman (1968) and Merton (1974). But, this kind of work on failure forecasting is weak in African countries in general and in Morocco in particular, hence the interest of this work...........
Keywards: Default risk, Finance, KMV model, Black and Scholes, Morocco, Africa.
[1]. Altman, Edward I., 1968, Financial ratios, discriminant analysis and the predictionof corporate bankruptcy, Journal of Finance 23, 589.609.
[2]. Beaver, William H., 1966, Financial ratios as predictors of failure, Journal of Accounting Research 4, 71.111.
[3]. Campbell John Y., Jens Hilscher, and Jan Szilagyi, 2008, In search of distress risk,Journal of Finance, 63, 2899.2939.
[4]. Haas François ; 2003. Vers un « continuum de marché » ? Modèles structurels et interactionsentre marchés de crédit et d'actions. Banque de France • Revue de la stabilité financière• Juin 2003
[5]. Ohlson, James A., 1980, Financial ratios and the probabilistic prediction of bankruptcy, Journal of Accounting Research 18, 109.131.
[6]. Merton, R. C. (1974) : « On the pricing of corporate debt : the risk structure of interest rates », Journal of Finance, vol. 29, pp. 449–470.
[7]. Zielinski T. (2013), Merton's and KMV models in credit risk management, Studia Ekonomiczne. Zeszyty, Naukowe . University of Economics in Katowice
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| Paper Type | : | Research Paper |
| Title | : | The Role of Natural Gas In Nigeria' Economic Development Calculus: Some Simple Empirics |
| Country | : | Nigeria |
| Authors | : | Abiodun Edward Adelegan |
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: | 10.9790/5933-0903011321 |
Abstract: The fact that the Nigerian economy depends critically and precariously on hydrocarbon resources, therefore, makes imperative to illuminate and x-ray the importance of natural gas to the development of the Nigerian economy. Against this background, the study examines empirically the role of natural gas in the economic development calculus of Nigeria. The main objective of this study is to provide a framework for understanding the larger economic role of gas at a time when issues of employment and investment are so critical in a traumatized national economy in Nigeria. For us to achieve the above objective the following questions are germane: what is the impact of natural gas revenue on real GDP per capita in Nigeria? What is the relationship between natural gas revenue.........
Keywards: Energy, natural gas, development, policy, Nigeria.
[1]. Adegbulugbe, A.O. (1993). Energy Supply and Demand Balance in Nigeria: Issues and Options. Energy Policy Agenda for Nigeria, International Energy Services Ltd. Annual Abstract of Statistics, 1996 Edition, Federal Office of Statistics, Lagos.
[2]. Adelegan, A. E. & Oriavwote, V.E. (2014). Economic Implications of Climate Change in sub- Saharan Africa: An empirical Analysis. Energy Assess for Economic Development: Policy, Institutional Frameworks and Strategic Options. 7th Annual Proceedings of the 2014 Nigerian Association for Energy Economics.
[3]. Ibeneche, C. (2009). The Contribution of LNG to the Nigerian Petroleum Industry and the Challenge of Globalization. Petroleum Review 2(1).
[4]. Iwayemi, A (1991). Deregulation of Public Utilities in Nigeria. An Econometric Analysis in Cear Published Analysis of Key Public Sector Utilities in Nigeria, U.I. Ibadan Nigeria.
[5]. Jon, S. (2000). An Electricity Power Policy Statement for Nigeria: Transitional Aspects. A Workshop Presentation at NERA and London Business School. August , 2000.
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| Paper Type | : | Research Paper |
| Title | : | Private Domestic Investment, Domestic Credit To The Private Sector And Economic Performance: Nigeria In Perspective |
| Country | : | Nigeria |
| Authors | : | Adelegan Abiodun Edward |
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: | 10.9790/5933-0903012231 |
Abstract: This study examines the dynamic linkages between domestic investment, domestic credit to the private sector and gross domestic product (GDP) in Nigeria over the period of 1970 to 2015. The main objective of the study is to provide an empirical framework for understanding the interactions between private domestic investment, domestic credit to the private sector and their impacts on the real sector. The Vector Autoregressive (VAR) model and its accessories of impulse response functions (IRFs) and variance decomposition composition (VDC) were applied toanalysetheannualdata. Having confirmed the long run relationship among the specified variables with Johansen co-integration test, the underlying theoretical expectations were used to identify the parameters and shocks of the structural model. On the basis of batteries of tests carried.........
Keywards: Causality, Domestic Credit to Private Sector; Private domestic investment and economic growth.
[1]. Adrangi, B. and M. Allender (1998). Budget deficits and stock prices: international evidence. Journal of Economics, 22, (2-3), pp. 57-66.
[2]. Ajakaiye D. O. (2002), "Economic development in Nigeria: A review of experience during 1980s. Niger-Monograph Series Vol. 1
[3]. Akpansung, A. O. and Babalola, S. J. (2011). Banking sector credit and economic growth in Nigeria. An empirical investigation. Central Bank of Nigeria Journal of Applied Statistics Vol. 2 No 2.
[4]. Bee Wah TAN and Chor Foon TANG (2011), "The dynamic relationship between private domestic investments, the user cost of capital, and economic growth in Malaysia. Munich Personal RePEc Archive, Online at http://mpra.ub.uni-muenchen.de/27964/MPRA Paper No. 27964, posted 9. January 2011 19:33 UTC.
[5]. Dickey, D.A. and Fuller, W.A. (1981) Likelihood ratio statistics for autoregressive time series with a unit root. Econometrica, 49(4), 1057-1072.
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| Paper Type | : | Research Paper |
| Title | : | Effect of Government Expenditure on Human Capital Development in Kaduna State (1990 – 2015): An Application of ARDL Model |
| Country | : | Nigeria |
| Authors | : | Minin Amina Muhammad || Akutson Seth K. || Auta Elisha Menson || Messiah Abaka John |
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: | 10.9790/5933-0903013238 |
Abstract: This study investigates the effect of government expenditure on human capital development in Kaduna state from 1990 to 2015. Secondary data were obtained from Kaduna state Ministry of Budget and Planning, Cooperate Affairs Commission, National Youth Service Corps and Kaduna state Ministry of Health on; government expenditure on education and health, creative citizens, number of graduates and life expectancy at birth respectively. Also an index for human capital development was created using three pillars; creative citizens, number of graduates and healthy citizens using principal component analysis (PCA). The Auto Regressive Distributed Lag (ARDL) was adopted for the study. Findings of the work suggests that in the short-run, increase in government spending on education does not stimulate an increase in human capital development which is significant.............
Keywards: Government Expenditure, Human Capital Development, Kaduna State.
[1]. Adamu, S. (2012). "The Impact of Public Expenditure on Human Capital Development in Kano State (1990 – 2009)". An Unpublished Thesis Submitted to the Department of Economics, Ahmadu Bello University, Zaria, Nigeria
[2]. Agbatogun, K. K. and Taiwo, A. S. (2010). "Determinants of Health Expenditure In Nigeria". Journal of Research in National Development, Vol. 8. No. 2.
[3]. Chude, N.P. and Chude, D.I. (2013). "Impact of Government Expenditure on Economic Growth in Nigeria". International Journal of Business and Management Review, Vol.1, No.4, pp.64-71
[4]. Eigbiremolen, G.O. and Anaduaka, U.S. (2014). "Human Capital Development and Economic Growth: The Nigeria Experience". International Journal of Academic Research in Business and Social Sciences, Vol. 4, No. 4, pp. 25-35
[5]. Eluma, L. and Peter, S. (2017). Effect of Expenditures on Education, Human Capital Development and Economic Growth in Nigeria. Nile Jounal of Business and Economics, Vol. 3, No. 5. pp retrieved from http://journal.nileuniversity.edu.ng/ index.php/NileJBE/article/view/89
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| Paper Type | : | Research Paper |
| Title | : | Migrants' Remittances and Poverty in ECOWAS |
| Country | : | Nigeria |
| Authors | : | AKEJU, Kemi Funlayo || OLANIPEKUN, Dayo Benedict |
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: | 10.9790/5933-0903013945 |
Abstract: The rise of emigrants in West Africa is associated with the quest to migrate out of poverty. Migrants' remittances often help in stimulating demands for goods and services and providing support for families left behind. Using one-step system Generalized Method of Moments technique, the relationship between migrants' remittances and poverty in seven West African countries from 1995 to 2015 was explored. The results obtained revealed that the effect of remittance on poverty is statistically significant. Per capita income shows positive and statistically significant effect on poverty in ECOWAS. The findings show that migrants' remittances play a significant role in alleviating poverty in the region. Government efforts in alleviating poverty should consider the easiness in migrants' remittances to the recipients.
Keywards: Migration, Remittances, Poverty Alleviation and Development
[1]. Adams, Jr., Richard. H & Page, J. (2005). Do international migration and remittances reduce poverty in developing countries? World Development. Vol.33, No.10, pp.1645–1669. doi:10.1016/j.worlddev.2005.05.004
[2]. Adams, Jr, Richard, H., & Alfredo, C. (2013). The Impact of remittances on investment and poverty in Ghana." World Development 50 (2013): 24-40.
[3]. Alkire, S., Jindra, C., Robles, G., Vaz, A. (2016). "Multidimensional Poverty Index 2016: Brief methodological note and results." OPHI Briefing 40, University of Oxford.
[4]. Anyanwu, J.C., & Erhijakpor, E.O. (2010). Do remittances affect poverty in Africa?', African Development Review, 22(1): 51-91.
[5]. Harris, J., & Todaro, M. (1970). Migration, unemployment and development: a two-sector analysis. American Economic Review, 60, 126–142..
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| Paper Type | : | Research Paper |
| Title | : | Analysis to the Effect of Return on Equity, Interest Rate, Exchange Rate, and Inflation toward Stock Price on Property and Real Estate Industries Listed In Indonesian Stock Exchange (Idx) Period of 2009-2015 |
| Country | : | India |
| Authors | : | Karnawi Kamar |
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: | 10.9790/5933-0903014655 |
Abstract: This research aims to know simultaneously and partially about the effect of Return on Equity, interest rate, exchange rate, and inflation variable toward stock price on property and real estate industries listed in Indonesia Stock Exchange (IDX) period of 2009-2015. Population in this research was property and real estate industries listed in Indonesia Stock Exchange (IDX) period of 2009-2015. Sample in this research was 4 property and real estate industries. Sample determination method used in this research was purposive sampling where the sample determination conducted based on certain requirements. Statistical method used in this research was simple and multiple regression method..........
Keywards: stock price, inflation, exchange rate, Return on Equity, interest rate
[1]. Fahmi, Irham. (2014). Manajemen Keuangan Perusahaan dan Pasar Modal. Jakarta : Mitra Wacana Media
[2]. Fahmi, Irham. (2015). Analisis Laporan Keuangan. Bandung : CV Alfabeta
[3]. Ghazali, Imam. (2011). Aplikasi Analisis Multivariate dengan Program SPSS. Badan Penerbit Universitas Diponegoro : Semarang
[4]. Harahap, Sofyan Syafri. (2016). Analisis Kritis Atas Laporan Keuangan. Jakarta : PT Rajagrafindo Persada
[5]. Harmono. (2014). Manajemen Keuangan : Berbasis Balance Scorecard. Jakarta : PT Bumi Aksara.
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| Paper Type | : | Research Paper |
| Title | : | An Empirical Study on Economic Growth of New Urbanization and Tourism Development |
| Country | : | China |
| Authors | : | Xin Chen || Zhe Yin |
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: | 10.9790/5933-0903015662 |
Abstract: In recent years, the new concept of "urban tourism" has been widely proposed. This paper studies the time series data of China from 1996 to 2016 and constructs a VAR model to analyze the impact of new urbanization and tourism development on economic growth. The empirical results show that: (1) Tourism development has a significant role in promoting economic development. (2) In the short term, urbanization has not played a role in promoting economic development. However, in the long run, the development of urbanization will promote economic growth. Based on the empirical results, the following suggestions are made: Develop tourism, promote the process of urbanization and economic development, and formulate the plan of "Urbanization of Tourism and Tourism to Towns".
Keywards: New urbanization, tourism development, VAR model, impulse response function.
[1]. DURBARRY R. Tourism and economic growth: the case of mauritius［J］.Tourism Economics,2004，10( 13):389－401．
[2]. KIM H J，CHEN M H，JANG S S．Tourism expansion and economic development:the case of Taiwan［J］．Tourism Management，2006，27(5):925－933．
[3]. LEE C C，CHANG C P．Tourism development and economic growth: a closer look at pane［J］．Tourism Management，2008，29(1):180 － 192．
[4]. CHI-OK O.The contribution of tourism development to economic growth in the Korean economy［J］．Tourism Management，2005，26(1):39－44．
[5]. Dai Kuizao.The Dynamic Relationship between Tourism Development and Regional Economic Growth[J].Guangxi Social Sciences,2010(8):182.
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| Paper Type | : | Research Paper |
| Title | : | The Impact Of Technological Change On The Monitoring And Evaluation Of Imports and Exports On China And South Africa's Economies. |
| Country | : | China |
| Authors | : | Vuyelwa Jeanett Moledi |
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: | 10.9790/5933-0903016367 |
Abstract: China is one of the fastest growing and developing countries in the world and South Africa is one of the fastest developing countries in Africa. Trade has increased between China and South Africa and both countries' economies are growing. Technological change is playing a huge role in the development of economies and China is one of the leading economies that have used technology as a means of advancing its economy. Imports and exports are important constituents with regards to the growth of the economy. The imports from China to South Africa weigh more in the trading basket compared to the exports from South Africa to China, this indicates a trade deficit for South Africa's............
Keywards: Technological change, imports, exports, monitoring, evaluation
[1]. Business Dictionary, 2018 Accessed on :8 April 2018, Accessed at :http//www.businessdictionary.com/definition/international-trade.html
[2]. D Donaldson, 2011, The International Theory Lecture 3: The Ricardian Model ( Theory) Accessed on: 5 April 2018 ,Accessed at: Economics.mit.edu/files/7436
[3]. Daniel and Virk, 2014 South Africa and the BRICS: Progress, Problems, and Prospects Policy Advisory Group Seminar Report (Pretoria), South Africa date of publication: November 2014.
[4]. EW World Economy Team, China Trade, Imports and Exports,2013, Accessed on: 20 April 2018,Accessed at:http://www.economywatch.com/world_economy/china/export-import.html
[5]. International Trade, 2012, Accessed on: 5 April 2018, Accessed at: http://www.slideshare.net/nisaa89/theories-of-international-trade-11396893.
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| Paper Type | : | Research Paper |
| Title | : | Capital Structure Decisionson A Firm's Value; A Study of Manufacturing Companies In Nigeria |
| Country | : | Nigeria |
| Authors | : | Joshua A.A || Gbenedio A.E || Falola I.Y || Oluwagbemi S.T || Lofinmakin B.A || Tams-Alasia,O. |
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: | 10.9790/5933-0903016872 |
Abstract: The capital structure decision of an entity enables it to have a capital mix which enhances maximization of the organisation's value. The study aims at exploring the capital structure decision of manufacturing companies in Nigeria so as to establish the effect of capital structure decisionson maximum organisational value enhanement. The variables used as a proxy for capital structure include debt to; equaity ratio, total asset ratio, total asset ratio and total asset ratio while the variable used forfirms' value is return on assets (ROA). The sample size used in this study includes 10 manufacturing listed firms in Nigeria and the analysis techniques used in the study is random sampling method. The data required is obtained from the financial statements of the listed manufacturing companies for the period of 2013-2017. The method of analysis in this study was multiple regression analysis model was used to estimate the relationship between capital structure and firm's value. The result revealed..........
Keywards: Capital structure, Firms' value, Weighted average cost of capital and traditional view
[1]. Abdul,G.K. (2010). The relationship of Capital structure Decision with the firms Performance: A Study of Engineering Sector of Pakistan. COMSATS Institute of Information Technology Vehari.
[2]. Adesina J.B., Nwidobie B.M., & Adesina O.O (2016). Capital structure and financial performance in Nigeria. International Journal of business and social research 05(02).
[3]. Afrasiabishani J., Ahmadinia H., & Hesami S (2012). A comprehensive review of capital structure theories.
[4]. Ajayi O.D & Zahiruddin B.G (2016).The impact of capital structure on firm performance: Empirical evidence from Nigeria. IOSR Journal of Economics and Finance,7(4) 23-30.
[5]. Akinyomi,O.J. (2013). Effect of Capital structure on firms performance:Evidencefron Nigerian Manufacturing Company: International journal on innovative Research and Studies,2 (9)