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Yang Wangping and Lu Xiaolu

Abstract

In the context of global integration, one country’s economic fluctuations will affect another country through a variety of ways, the global economic crisis in 2008 is the best proof. The economic ties between China and Japan are closely related. Japan was once the largest trading partner of China. It is very important to study the influence mechanism of economic fluctuations between China and Japan for the stable development of China’s economy. This paper selects China’s export to Japan(CEX) Japan’s export to China(JEX) Japan’s direct investment to China (FDI) Chinese gross domestic product (CGDP), Japan’s gross domestic product (JGDP) five variables. We use impulse response and variance decomposition to analyze the interaction of Chinese and Japanese economy. Finally we come to the conclusion: China’s economy affected by the impact of Japan’s economic fluctuations bigger than Japan’s economy affected by China; the contribution rate of imports from Japan is greater than the export to China’s economy.

Open access

Ayobola Charles, Ekundayo Mesagan and Muibi Saibu

Abstract

This paper examined the relationship between resource endowment and export diversification and its implication for economic growth in Nigeria based on data from 1981 to 2015. The result of the Granger causality test suggests that unidirectional causality runs from oil production to economic growth, while export diversification does not granger cause economic growth. From the error correction result, it was established that export diversification positively impacts growth from the last two periods, while in the current period, it has negative effect on growth. This means that the key issue with Nigerian economy might not be structural but institutional. That is, even if the economy is diversified, the expected result may still be a ruse without appropriate economic institutional reform. The study concludes that specialisation is preferred to diversification for Nigeria in the current circumstance. Hence, the key issue to sustain growth in Nigeria is not in the number of productive sectors but in their efficiency.

Open access

Halil Dincer Kaya

Abstract

In this study, we examine the regional impacts of the 1997 Asian Crisis on Governance. We use World Bank’s Worldwide Governance Indicators (i.e. WGI) which includes six dimensions of governance. These six dimensions are “Voice and Accountability”, “Political Stability and Absence of Violence”, “Government Effectiveness”, “Regulatory Quality”, “Rule of Law”, and “Control of Corruption”. The seven regions that we examine are North America, Europe and Central Asia, Latin America and Caribbean, East Asia and Pacific, South Asia, Sub-Saharan Africa, and Middle East and North Africa. Our findings show that, due to the crisis, while the overall rankings of Latin America and Caribbean, and Sub-Saharan Africa improved, the overall rankings of Europe and Central Asia, East Asia and Pacific, South Asia, and Middle East and North Africa declined. There was no change in the ranking of North America due to the crisis. Both pre- and post-crisis, North America has the highest ranking in all six measures of governance.

Open access

Andrew Holt and Joseph McGarrity

Abstract

The Arkansas Advanced Initiative for Math and Science (AAIMS) is program with the goal to increase Advanced Placement (AP) participation and increase the passing rate of AP exams. The program offers monetary incentives and support to students and teachers for one year, effectively creating a natural experiment. This paper exploits the one year treatment to empirically show that the program is effective at increasing a school’s AP participation rate by nudging the schools to increase AP offerings and satisfying a latent student demand for AP classes.

Open access

Ada Cristina Marinescu and Lucian-Liviu Albu

Abstract

Last decades the public debt increased continuously in all countries of European Union. At present, in many countries this dangerous growth is seriously affecting the general process of economic development. Although in a number of countries the public debt is today larger than 60% of GDP, as the imposed limit by Maastricht Treaty, the problem of its sustainability is varying from country to country. Following old and recent published studies in matter of public debt sustainability, one objective of our study is to analyse the existence of a convergence or a divergence process both at the level of the whole EU and within the two major groups of countries (EU14 – old members of EU, after Brexit, and respectively EU11 – new eastern members adhered to EU after 2000). Other objective is to build a model to simulate the long term dynamics of the public debt as a function of standard variables (such as GDP growth, interest rate, budgetary deficit, etc.). Moreover, by using recent data from Eurostat, IMF, and World Bank, we try to estimate few essential parameters in order to control the public debt sustainability in each country of EU. Finally, countries are grouped in a number of classes for which certain policy measures could be evaluated.

Open access

Lonzo Caves

Abstract

Organizational change occurs in every organization that deals with growth and transition. Organizational leaders develop a commitment to lifelong learning throughout their careers. As the organizational leader grows, the organization in which they lead grows as well. Organizational leaders are characterized by how they develop their strategic plan that will influence change. Discipline is essential to the development of a leader influencing organizational change. Organizational leaders create psychological contracts with employees to build trust, confidence, and business relationships. Psychological contracts motivate employees intrinsically, and in ways that go beyond the confines of the physical contract signed between employees and management. Organizational leaders honor psychological contracts to take advantage of the talented employees that can benefit the organization. Psychological contracts assist leaders guiding their organization through changes by creating intrinsic motivators to develop an understanding of expectations. Changes that need to occur should be well communicated and implemented at a time that offers the organization and advantage rather than a setback. Leadership differs from management by requiring an alternative approach when dealing with employees and how to direct change at the individual, group, or larger system level. Organizational leaders create an environment for change that must be nurtured for the employees to commit to following the leader. Organizational change develops throughout the life cycle of an organization and is dependent on the organizational leader’s willingness to continue to learn.

Open access

Majid Esmaeilpour and Mohammad Ranjbar

Abstract

The aim of the research was to examine the effects of satisfaction and commitment of employees on the employees’ loyalty and to investigate the effect of employees’ loyalty on quality of services provided for customers. This research is applied in terms of objective and correlational type of descriptive-survey in terms of data collection. Population of the research includes two groups. The first group included employees providing service to customers of Ports and Maritime Organization of Bushehr (Iran) and the second group included customers receiving the services of the organization. From both groups, 250 people were selected using available sampling method to respond to questions of the research. To test the research conceptual model and research hypotheses, structural equation modeling was used. The results showed that job satisfaction of employees have significant positive effect on organizational commitment of employees. Also, job satisfaction and organizational commitment of employees have significant positive effect on their loyalty to organization. In addition, organizational loyalty of employees has positive and significant impact on improving the quality of customer service. Therefore, organizations should make their effort to recruit employees who are suitable for their activities.

Open access

Olfa Riahi and Walid Khoufi

Abstract

In this article, we investigate the causality links between behavioral factors and the decision to adopt IFRS in developing countries until the year 2013. We implement this empirical model by using the neo-institutional approach and based on a sample of 108 developing countries. Our empirical results show that there exists bidirectional causal relationship between the majority of the developed behavioral variables and the decision of adopting or not IFRS by developing countries. They also indicate through multivariate analysis that the selection of IAS / IFRS by developing countries is primarily legitimized by institutional and social pressures (institutional isomorphism). These empirical insights are of particular interest to local accounting standard setters of selected countries since they can provide a better discernment of factors that can encourage the adoption of IAS IFRS.

Open access

Ekundayo Mesagan, Ndubuisi Olunkwa and Ismaila Yusuf

Abstract

The study focused on financial sector development and manufacturing performance in Nigeria over the period of 1981 to 2015. In the study, three indicators such as manufacturing capacity utilization, manufacturing output and manufacturing value added were employed to proxy manufacturing performance while money supply as a percentage of GDP, domestic credit to the private sector and liquidity ratio were employed to proxy financial development. The study observed that credit to the private sector and money supply positively but insignificantly enhanced capacity utilization and output, but negatively impacted value added of the manufacturing sector in the short run. There is slight improvement in the long where both money supply and credit to private sector exert positive impact manufactured output. Hence, it becomes crucial for commercial banks to make available certain percentage of their profits for industrial expansion in order to create linkages between both sectors.

Open access

Nida Baig, Shahbaz Khan, Naeem Gul Gilal and Abdul Qayyum

Abstract

This article strives to work out the causal relationship between natural disasters and economic growth in Pakistan. The study empirically tests the linkage using econometric techniques autoregressive distributed lag bound model by Pesaran (2001) and Granger causality test. We develop a proxy for the loss of natural disasters by a similar method as Noy (2009) and Bergholt et.al, (2012) did. The results of ARDL bounds testing approach evidence a negative long run relationship between the proxies of natural disasters and economic growth. The results of Granger Causality depict the uni-directional causality from natural disasters to economic growth both in short-run and long-run. Overall, the study determines that natural disasters deteriorate economic growth in Pakistan. This is the first study in Pakistan to assess the causal relationship among natural disasters and economic growth. So, further empirical evidence may link natural disasters to microeconomics and financial indicators. In future, researchers might control the impact of foreign development aid, remittances, political stability and country’s corruption rating. Natural disasters are an alarming issue and, addressing the questions related to their impacts on welfare of human being and economic growth of the countries contain significant importance in order to attract the attention of global development agencies and policymakers. As per INFORM (2015) risk index, Pakistan has the highest vulnerability towards natural disasters after Afghanistan. So, the study contains more significant value in context of Pakistan.