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1
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Determinants of Chinese demand for tourism in Malaysia

100%
Puah C.-H., Huan S.-H., Thien F.-T.
Business and Economic Horizons
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2018
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vol. Volume 14
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issue Issue 3
501-512
EN
Tourism sector in Malaysia has always been one of its focal service industries not only in the past, but in the future as well in which Malaysian government has been focusing on diverting its economic activities from a resource-based to a service-based economy in its new economic model. China, a strongly emerging economy has been ranked as the third main tourist generating country for Malaysia since 2012. Hence, this study empirically identifies the macroeconomic determinants affecting the tourism demand from China to Malaysia. These determinants include real income, travel cost, exchange rate and trade openness. Particularly, real income and trade openness are evident to positively affect Chinese tourism demand while travel cost and exchange rate are found to adversely influence Chinese tourists’ decision to travel to Malaysia.
2
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The relationship between information and communication technologies and female labour force participation in Turkey

100%
Tüzemen S., Barış-Tüzemen Ö., Çelik A. K.
Economics and Business Review
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2021
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vol. 7
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issue 4
121-145
EN
The elimination of all forms of discrimination between the sexes is not only a fundamental human right but it also is very important to support all other areas of development, particularly sustainable development. The aim of this study is to empirically investigate the role of information and communication technologies on employment inequality in Turkey. Therefore, the relationship between ICT applications and female labour force participation is investigated with the auto regressive distributed lag (ARDL) model and impulse response analysis. The results showed that there is no association between information and communication technologies and the female labour force participation rate for the period 1988–2018. These findings may suggest that developing countries also need to have a certain level of development in other areas such as democracy, fundamental rights and freedoms and the rule of law to benefit from the opportunities that information and communication technologies offer to empower the whole society including women.
3
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Relative effectiveness of monetary and fiscal policies on output growth in Turkey: an ARDL bounds test approach

100%
Özer M., Karagöl V.
Equilibrium. Quarterly Journal of Economics and Economic Policy
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2018
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vol. 13
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issue 3
391-409
EN
Research background: Effects of monetary and fiscal policy on output growth has been one of the major topics that economists have been investigating. Monetary and fiscal policies are tools for economists and policymakers to correctly direct the economy and facilitate the growth and development of the country. Accordingly, it is critically important for policy-makers in the area of economy to study the efficiency and the effectiveness of such policies. But, so far, there has been no generally accepted evidence suggesting the effectiveness of either the policy in Turkey or around the world. Instead, the dominance of either policy is subject to a change period to period and country to country. Purpose of the article: The purpose of this study is to analyze the growth effectiveness of fiscal and monetary policies and then determine which of these two policies is more powerful in promoting economic growth in Turkey over the period 1998 and 2016. Methods: To investigate the growth effectiveness of monetary and fiscal policies, we use some of the time series econometric techniques, such as ARDL Bounds testing, structural break unit root tests and Granger causality tests. Findings & Value added: Monetary policy variable is creating only short-run effects on growth; but, it's not causing any Granger causality on it. On the other hand, fiscal policy variable has a long-run significant effect and causing to growth. Thus, the fiscal policy seems to be more effective than monetary policy during examination period, implying the rethinking the implementation of both policies in Turkey. To the best of our knowledge, this study is the first attempt to investigate the relative effectiveness of economic policies on growth in Turkey in terms of both methods used and period chosen.
4

FURTHER EVIDENCE ON THE VALIDITYOF THIRLWALL’S LAW

88%
Podkaminer L.
Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
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2017
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issue 1
75-86
EN
A simple equation is considered whose empirical analysis could confirm – or reject – the validity of Thirlwall’s Law. Autoregressive Distributed Lags (Bounds) approach is used to establish the empirical adequacy of the Law. The analysis, working with data for 58 countries and covering the years 1960-2012, suggests that the Law may not hold for the decisive majority of countries considered.
5
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Post-Brexit exchange rate volatility and its impact on UK exports to eurozone countries: A bounds testing approach

88%
Naimy V., Khoury R. E., Montero J.-M., Souk J.
Oeconomia Copernicana
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2023
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vol. 14
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issue 1
135-168
EN
Research background: The Brexit referendum had a profound effect on the economic relations between the United Kingdom (UK) and continental Europe. Major economic and financial determinants were affected, including the impact of the GBP/EUR exchange rate volatility on the dynamics of UK exports to the Eurozone. Purpose of the article: This paper seeks to assess the extent to which these dynamics have changed since Brexit and to estimate the magnitude of their impact. Methods: To this end, the volatility behavior of the GBP/EUR exchange rate before and after Brexit is captured using EWMA, GARCH(p,q), and EGARCH(p,q) models for the period of January 1, 2010 to August 31, 2020. The post-Brexit change in the volatility structure of GBP/EUR exchange rates is then tested by including a dummy in the optimal volatility model. Finally, the Autoregressive Distributed Lag (ARDL) Bounds Testing approach is employed to analyze the relationships between exchange rate volatility and exports. Findings & value added: GARCH(1,1) was selected as the winning model and used to examine the volatility structure of the post-Brexit exchange rate, which revealed no significant change. By incorporating a well-grounded proxy for exchange rate volatility into the demand function of exports, and controlling for the industrial production index, terms of trade, and real exchange rate, the analysis showed that exchange rate volatility had a negative impact on export volume to the Eurozone in both the long and short run. Additionally, the industrial production index had a positive effect on export volume in both the long and short run, while an appreciation in the value of the pound relative to the euro adversely affected the competitiveness of UK exports in the Eurozone market in the long run, with no impact in the short run. This paper serves as a benchmark for future studies, as it follows a three-step modeling approach and provides valuable insights into the potential economic and financial consequences a European Union (EU) member state may face should it choose to exit the EU.
6
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The Impact of COVID-19 Cases on Stock Prices of Selected Companies Representing Tourism and Banking Sectors

88%
Dayan V., Bolek M., Trinidad-Segovia J. E.
Finanse i Prawo Finansowe
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2023
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vol. 1
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issue 37
7-31
EN
The purpose of the article/hypothesis: The purpose of the article is to analyse the relationship between stock prices of selected companies and COVID-19 cases in those countries where the tourism and banking sectors have a high share of national income, such as Croatia, Italy and Spain. Methodology: The methods used are Breakpoint Unit Root Tests to determine whether a time series is stationary or not, and ARDL cointegration technique for cointegration testing. Results of the research: It was found that the number of COVID-19 cases negatively impacted the tourism and banking market in surveyed EU countries.
7
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Effects of Money Demand on Trade Balance in Nigeria

87%
Adeyemi O. J., Oseni I. O., Tella S. A.
Acta Universitatis Lodziensis. Folia Oeconomica
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2020
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vol. 6
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issue 351
23-44
PL
Prowadzone przez różnych autorów badania koncentrują się na wpływie deprecjacji waluty na bilans handlowy oraz politykę makroekonomiczną, podczas gdy związek między popytem na pieniądz a bilansem handlowym jest słabo udokumentowany w literaturze. W niniejszym artykule przeanalizowano wpływ popytu na pieniądz na bilans handlowy w Nigerii. Do analizy wykorzystano szeregi czasowe dla danych rocznych z okresu od 1986 do 2018 roku oraz autoregresyjny model o rozłożonych opóźnieniach (ARDL). Długookresowy współczynnik popytu na pieniądz miał znak dodatni i był statystycznie istotny na poziomie 5%. Pozytywne skorelowanie współczynnika popytu na pieniądz w dłuższej perspektywie miało znaczący wpływ na bilans handlowy. Oznaczało to, iż wzrost popytu na pieniądz o 1,57% prowadził do znacznego wzrostu bilansu handlowego o 1,57%. W konsekwencji można stwierdzić, iż popyt na pieniądz miał znaczący wpływ na bilans handlowy, prowadząc do zwiększenia produkcji towarów i promowania inwestycji, co zaowocowało zwiększonym wzrostem. Artykuł zawiera rekomendację, aby Bank Centralny Nigerii, za pośrednictwem Komitetu Polityki Pieniężnej, zmienił jakościową i ilościową politykę kontroli kredytowej tak, żeby usprawnić akcję kredytową i zwiększyć przepływ kredytów do eksportującego sektora gospodarki, w celu uzyskania pożądanego wpływu na bilans handlowy.
EN
Previous studies appear to have concentrated on the effects of currency depreciation on trade balance and macroeconomic policy, while the relationship between money demand and trade balance is scantly documented in the literature. This paper therefore examines the effects of money demand on trade balance in Nigeria. For the analysis conducted, annual time series data covering the period ranging from 1986 to 2018 were used along with the Autoregressive Distributed Lag (ARDL) estimation technique. The long‑run coefficient of money demand was positively signed and statistically significant at 5% level. The positive relationship exhibited by the coefficient of money demand in the long run had a significant influence on trade balance. Thus, this implied that a unit percent increase in money demand would lead to a 1.57% significant increase in trade balance. The implication of this finding was that money demand had significantly influenced trade balance, enhancing the production of goods and fostering investment, which had led to increased growth. The paper recommends that the Central Bank of Nigeria through the Monetary Policy Committee should amend qualitative and quantitative credit control policies with the aim of improving lending to enhance the flow of credit to the real and exporting sector of the economy in order to bring about the desired effect on trade balance. However, the study is limited to an analysis of the existence of the relationship between money demand and trade balance using the Nigerian data set.
8

HOW DO OIL PRICE CHANGES AFFECT THE CURRENT ACCOUNT BALANCE? EVIDENCE FROM CO-INTEGRATION AND CAUSALITY TESTS

75%
Turan T., Karakas M., Ozer H. A.
Ekonomický časopis (Journal of Economics)
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2020
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vol. 68
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issue 1
55 – 68
EN
This paper examines the relationship between the global oil prices and current account balances in Czech Republic, Hungary, and Poland by using ARDL and causality analysis. Our estimates indicate that there is a co-integrating relationship among the global oil price, current account balance, GDP growth rate, and real exchange rate in the sample countries. We find that a change in oil price has a significant effect on the current account balance in Poland and Czech Republic. Additionally, our results suggest that a change in the growth rate exerts a significant effect on the current account in these two countries. Moreover, there is a causal relationship running from the oil prices to current account balances in all sample countries in the short run. Furthermore, it seems that the growth rates Granger cause the current account in Czech Republic and Hungary in the short run. Finally, we also detect a long run and strong causality between variables in some cases.
9
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ASYMETRIA WPŁYWU CENOWYCH SZOKÓW NAFTOWYCH NA PRODUKCJĘ ORAZ INFLACJĘ WYBRANYCH KRAJÓW UNII EUROPEJSKIEJ

71%
Geise A.
Metody Ilościowe w Badaniach Ekonomicznych
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2014
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vol. 15
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issue 3
53-64
PL
W pracy podjęto temat relacji między poziomem cen ropy naftowej a aktywnością ekonomiczną wybranych gospodarek Unii Europejskiej. Badano różnice we wpływie szoków naftowych na poziom produkcji i inflacji w gospodarkach Francji, Niemiec, Holandii, Wielkiej Brytanii, Unii Europejskiej, Polski, Czechach i Węgier. Weryfikacji poddano następującą hipotezę badawczą: Ceny ropy naftowej charakteryzują się asymetrycznym wpływem na poziom produkcji oraz inflacji w gospodarkach UE. Do weryfikacja hipotezy wykorzystano ekonometryczne metody analizy szeregów czasowych.
EN
This paper applies the autoregressive models to investigate the impacts of an oil price change on economic activities in selected EU countries. We investigate the differences in the impact of oil shocks on the level of output and inflation in France, Germany, Netherlands, United Kingdom, EU, Poland, Czech Republic and Hungarian. We verified research hypothesis: The impact of oil price shocks on the level of output and inflation in EU economies is asymmetric. To verify the hypothesis we used econometric methods for the analysis of time series.
10
Content available remote

Is Economic Integration a Historical Shock to City-size Distribution?

65%
Sorhun E.
Comparative Economic Research. Central and Eastern Europe
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2018
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vol. 21
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issue 1
83-100
PL
Opierając się na założeniu, że proces integracji gospodarczej wpływa, poprzez reformy rynkowe, na dynamikę procesu kształtowania przestrzeni w krajach kandydujących, w niniejszym opracowaniu podjęto próbę udzielenia odpowiedzi na pytanie (i) czy dominujące są siły aglomeracyjne czy rozpraszające (ii) czy integracja z UE powoduje przerwy strukturalne w rozkładzie przestrzeni w czasie; (iii) czy integracja z UE powoduje bardziej równomierny czy nierównomierny rozkład wielkości miast w ośmiu wschodnich państwach członkowskich Unii Europejskiej (UE–8). W toku analizy wykorzystano test Zivota‑Andrewsa i test CUSUMSQ w celu zidentyfikowania przerw strukturalnych; test ARDL Bound posłużył do pokazania związku między równowagą długookresową i krótkookresową; test Grangera posłużył do określenia kierunku przyczynowości między zmiennymi. Główne wnioski z analizy: integracja z UE (i) spowodowała przerwę strukturalną w istniejącym rozkładzie wielkości miast, (ii) powiększyła nierównomierność rozkładu wielkości miast i (iii) spowodowała przewagę sił aglomeracyjnych nad siłami rozpraszającymi w państwach UE –8.
EN
Based on the assumption that the economic integration process contributes, via market reforms, to the dynamics of the space distribution in candidate countries, this study examines (i) whether agglomeration forces or dispersion forces are dominant; (ii) whether EU-integration causes a structural break to the space distribution over time; (iii) whether EU-integration makes the city-size distribution more even or uneven in eight eastern European Union members (EU–8). To carry out the analysis, the Ziwot-Andrew and Cusum Square tests are used to detect structural breaks; the ARDL Bound test is used to reveal the interaction between long-run and short-run equilibrium; and the Granger test is used to determine the direction of the causality among the variables. The main results are: the integration with the EU (i) caused a structural break to the city-size distribution, (ii) made the city-size distribution more uneven and (iii) stimulated the agglomerating forces over the spreading forces in the EU–8.
11

Government Spending and Inclusive-Growth Relationship in Nigeria: An Empirical Investigation

63%
Kolawole B. O.
Zagreb International Review of Economics and Business
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2016
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vol. 19
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issue 2
33-56
EN
This study has investigated the relationship between government spending and inclusive growth in Nigeria over the period 1995 to 2014. Specifically, it examined how, and to what extent, government spending on education, government spending on health, economic freedom, public resource use, and real GDP growth rate have impacted on inclusive growth in the country. It used the Dickey-Fuller GLS unit root test to ascertain the order of integration of the series. Consequently, through the Auto-Regressive Distributed Lag (ARDL) bound testing technique, the study found that in the long-run government spending on health, economic freedom, public resource use and real GDP growth rate had significantly positive influence on inclusive growth. In the short-run, however, only real GDP impacted significantly on inclusive growth while other variables were not significant in causing inclusive growth. Thus, in conclusion, government spending in the form of redistributive spending on health propelled inclusive growth in Nigeria.
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