scholarly journals The causality among e-money, manufacturing, services and money supply: an empirical evidence of ASEAN countries

2020 ◽  
Vol 8 (3) ◽  
pp. 269-276
Author(s):  
Heryadi Heryadi ◽  
Azwardi Azwardi ◽  
Sukanto Sukanto
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Money Supply ◽  
Service Sector ◽  
Economic Transition ◽  
Manufacturing Sector ◽  
Causal Relation ◽  
Causal Effect ◽  
Asean Countries

The economic transition happened in ASEAN countries caused the increased growth of e-money use. This study was established to discover the causal relation between the growth in manufacturing and service sector and the e-money usage through causality panel approach. Furthermore, this study also focused on finding the causality among the economic growth in manufacturing and service sector, e-money and money supply during 2008-2018 period in the region. The result of the study showed that: (1) there was a one-way causality between the growth in service sector and e-money use, (2) there was no causality between e-money use and the growth in manufacturing sector (3) the growth of money supply provided causal effect on the increase of e-money use.

scholarly journals ODA and Provincial Economic Growth in Vietnam

2019 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
Dang Ngoc Duc ◽  
Do Thi Ngoc Lan
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Empirical Evidence ◽  
Case Studies ◽  
Causal Relationship ◽  
Granger Causality ◽  
Focal Point ◽  
Causal Effect ◽  
Granger Causality Test ◽  
Causality Test

The focal point of this paper is focused on assessing the causal relationship between ODA and economic growth in the localities of Vietnam. This research uses panel data of ODA and GDP from 63 provinces of Vietnam by using Granger Causality test. The results showed that ODA has a causal effect on economic growth (GDP) and vice versa, economic growth decides to attract ODA in provinces in Vietnam. This result complements studies on the causal relationship between ODA and economic growth using new empirical evidence through case studies in the provinces of Vietnam.

scholarly journals Impact of Monetary Policy on Economic Growth: Empirical Evidence in Vietnam

2019 ◽  
Vol 5 (10) ◽  
Author(s):  
Tang My Sang
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Interest Rates ◽  
Empirical Evidence ◽  
Money Supply ◽  
Negative Impact ◽  
Positive Impact ◽  
Secondary Data ◽  
The Impact

Through the secondary data collected from 2009 to 2018, the research used Var method to test the impact of monetary policy on economic growth in Vietnam. The results show that there is a relationship between the variables of monetary policy and economic growth, in which the money supply has a positive impact at a high significant level, interest rates have a negative impact on Vietnam economic growth. From the results obtained, the research proposed solutions for operating monetary policy.

scholarly journals The Differential Effects of Foreign Investments on Sectoral Growth

CONVERTER ◽  
2021 ◽  
pp. 674-688
Author(s):  
Cheng Hui Fang, Agbanyo George Kwame
Keyword(s):  
Economic Growth ◽  
Foreign Investment ◽  
Service Sector ◽  
Manufacturing Sector ◽  
Generalized Method Of Moments ◽  
Economic Sectors ◽  
Differential Effects ◽  
Agriculture Sector ◽  
Sectoral Growth ◽  
The Impact

Previous studies on the effect of FDI on sectoral growth are far from reaching a consensus. This paper, using a panel data of 35 countries between 1990-2019, aims at investigating the differential effects of foreign direct investment modes of entry into the economic sectors. Through the systems generalized method of moments methodology, this study found that the impact of foreign investment on growth corresponds directly with the absorptive capacity of the host country. Meanwhile,M&A is a better economic booster than greenfield investment. The results also suggest that foreign investment is a significant agent of economic growth in the service sector, relatively weak in the manufacturing sector and insignificant in the agriculture sector. Also, M&A seems to spillover more easily than greenfield across sectors, and natural resources are not very good channels to transmit foreign investment into economic growth.

scholarly journals Export Concentration and Sectorial Performance: A Re-Examination of the Empirical Evidence

2018 ◽  
Vol 11 (1) ◽  
pp. 39-54
Author(s):  
Olatunji A. Shobande
Keyword(s):  
Economic Growth ◽  
Standard Deviation ◽  
Growth Performance ◽  
Empirical Evidence ◽  
Total Variation ◽  
Service Sector ◽  
Agricultural Sector ◽  
Var Model ◽  
Vector Autoregressive ◽  
Sectoral Analysis

Abstract This paper examines to what extent export concentration can be tailored towards promoting economic growth in Nigeria. A deeper understanding of the interrelationship among various sectorial units, as well as the investment channel that better stimulates the economy is the thrust of this paper. As a consequence, the study wants to answer to the question whether it “is there any linkage between export concentration, and various sectorial output share (agricultural, manufacturing, and service sector) on growth performance?”. The methodology we made use of is a Vector Autoregressive (VAR) model for the various sectoral analysis of export concentration in Nigeria. The estimated results show that export concentration has an important role to play in driving economic growth and that this role emanates from the Agricultural and manufacturing sectoral channels. These channels account for about 93 percent and over 3 percent respectively of the total variation of export concentration contribution to economic growth. The result also indicates that one standard deviation shock to export concentration results in a peak on agricultural sector quarterly after shock. As a result, the study recommends that government ought to make available incentive to the agricultural sector to further enhance the contribution of the sector to the economic growth in the Nigeria economy.

scholarly journals Electricity Consumption and Economic Growth in Nigeria: A Sectoral Analysis

2019 ◽  
Vol 5 (1) ◽  
pp. 45 ◽  
Author(s):  
Akomolafe Kehinde John
Keyword(s):  
Economic Growth ◽  
Service Sector ◽  
Manufacturing Sector ◽  
Electricity Consumption ◽  
Vector Error Correction ◽  
Agriculture Sector ◽  
Long Run ◽  
Sectorial Analysis ◽  
Short Run ◽  
Electricity Conservation

This paper examines the causality between electricity consumption and economic growth in Nigeria, with a focus on sectorial analysis. The sectors considered are manufacturing sector, agriculture sector, and the service sector. The study covers the periods from 1981 to 2014. The study was done in a vector error correction model (VECM). The results show that the causality run from  manufacturing sector to electricity consumption in long run, but a bidirectional causality in the short run, from electricity consumption to service sector output  in the long run, and  from electricity consumption to service sector output in long run. There is no short run causality between electricity consumption and service sector and agricultural sectors outputs. The paper concludes with the recommendation that government should be careful in implementing electricity conservation policy

Natural resource abundance and broad-based financial development nexus in ASEAN countries: accounting for globalization and human capital

2021 ◽  
Vol 10 (1) ◽  
pp. 30-45
Author(s):  
Solomon Nathaniel
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Financial Development ◽  
Natural Resource ◽  
Unit Root ◽  
Manufacturing Sector ◽  
Financial System ◽  
Cross Sectional ◽  
Cointegration Tests ◽  
Asean Countries

Sustainable resource consumption is important for the development of the financial system. Besides, an advanced financial system eases the transfer of revenues from production activities and export to productive investments. The influence of natural resource (NR) abundance on financial development (FD) is still an ongoing debate with conflicting results. However, this study applies a novel proxy for FD, which measures the efficiency, accessibility, and depth of the financial market and institutions. Therefore, the current study is a maiden attempt to explore the nexus between FD and NR abundance amidst globalization, human capital, and economic growth in ASEAN economies. Reliable panel econometric techniques, including second-generation unit root tests, Westerlund (2007) cointegration tests, and the Augmented Mean Group (AMG) estimator are employed on the data for the period 1990-2017. The preliminary tests affirm the existence of cross-sectional dependence, unit root, and cointegrating relationship among the variables. The findings from the study reveal that NR abundance reduces FD, while globalization, human capital and economic growth add to FD. A feedback causality exists between NR abundance and FD. Thus, this study argues that more investment in the manufacturing sector will ease the attainment of efficiency in financial sector accessibility and benefits from NR abundance.

scholarly journals Economic Liberalization And Its Link To Convergence: Empirical Evidence From RCEP and TPPA Countries

2021 ◽  
Vol 18 (3) ◽  
pp. 439-460
Author(s):  
Sonia Kumari Selvarajan ◽  
Rossazana Ab-Rahim
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Financial Liberalization ◽  
Lao Pdr ◽  
Economic Liberalization ◽  
Annual Data ◽  
Pooled Mean Group ◽  
Convergence Clubs ◽  
Convergence Club ◽  
Asean Countries

Economic liberalization has been the emphasisof adjustment policies in developing countries; ASEAN countries jumped on the bandwagon and espousedeconomic reforms by liberalizingits international trade andfinancial policies. Through the development of free tradeagreement policies such as AEC and RCEP,regional economic integration is accelerating in South East Asia; not leaving behind the less developed member countries such as Cambodia, Lao PDR, Myanmar and Vietnam (CLMV). Hence, the objectives ofthis paper are to examine the dynamic impact of economic liberalization (financial and trade liberalization) on ASEAN’seconomic growth and to assess the possibility of the existence of convergence club between ASEAN and its RCEPcounterparts. Using the annual data covering the period of 1994to 2014, the analysis is based on the Pooled Mean Group (PMG) estimations for liberalization analysis while the Phillips and Sul (2007) methodology is used to assess the economic convergence clubs. The empirical evidence suggests that both trade and financial liberalization play a significant role in ASEAN’seconomic growth. For convergencein RCEP,full sample find an absence of homogenous convergence;as a result, four club convergencesare formed.The result highlights the importance of trade and financial liberalization in enhancing economic growth of ASEANandimpliesthat strong commitments in continuation of liberalization and integration policies arerecommended to promote a sustained economic growth.

scholarly journals Sector Level Analysis of FDI-Growth Nexus: A Case Study of Pakistan.

2009 ◽  
Vol 48 (4II) ◽  
pp. 875-882 ◽  
Author(s):  
Somia Iram ◽  
Muhammad Nishat
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Service Sector ◽  
Manufacturing Sector ◽  
Correction Method ◽  
Jel Classification ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Long Run

The main objective of the study is to empirically investigate the differential impact of services and manufacturing Foreign Direct Investment (FDI) on economic growth over the period of 1972 to 2008. The study further examines the role of FDI in presence of macroeconomic instability and privatisation. For the investigation of long run, Autoregressive distributed lag model (ARDL) has been used. For short run results, we used Error correction method (ECM). Our empirical results show that FDI inflow in both, service sector as well as manufacturing is contributing to economic growth positively. But it is apparent from the results that contribution of services FDI to growth is greater than that of manufacturing FDI to growth. Furthermore, the results provide coherent and sound policy recommendations for further policy adaptation regarding sectors. JEL classification: F23, F36, F43, C32 Keywords: Foreign Direct Investment, Economic Growth, Manufacturing Sector, Service Sector, Co-integration

Is Structural Transformation-led Economic Growth Immiserizing or Inclusive? The Case of Indonesia

2019 ◽  
pp. 226-249 ◽  
Author(s):  
Kyunghoon Kim ◽  
Andy Sumner ◽  
Arief Anshory Yusuf
Keyword(s):  
Economic Growth ◽  
Structural Transformation ◽  
Poverty Reduction ◽  
Service Sector ◽  
Manufacturing Sector ◽  
High Growth ◽  
Growth Period ◽  
Current Form ◽  
Poverty And Inequality ◽  
The Relationship

This chapter discusses the relationship between the recent pattern of structural transformation in the Indonesian economy and poverty reduction. In the past two decades, Indonesia has become a service-centred economy while its manufacturing sector has ceased to act as the driver of structural transformation. Further, the manufacturing sector’s capacity to generate employment and to lead productivity growth has deteriorated compared to that during the two decades prior to the Asian financial crisis. Since the late 1990s, Indonesia has also experienced a slowdown in poverty reduction and a rapid increase in inequality. This chapter argues that Indonesia’s economic growth will struggle to be as dynamic as that during the high-growth period if the service sector in its current form continues to lead structural transformation. This is because Indonesia’s service subsectors with large employment absorptive capacity have low productivity compared to the industrial subsectors. Without recovering dynamism in structural transformation, Indonesia’s fight against poverty and inequality is expected to be difficult.

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