Impact of Tourism on Economic Growth of Nepal: Is Tourism-Led Growth Hypothesis Valid for Nepal?

A voluminous study is available on tourism-growth nexus as tourism industry received considerable attention as a potential source of economic growth. This paper empirically examines the impact of tourism on economic growth of Nepal by using time series data of 1976-2020 and applying autoregressive distributed lag (ARDL) approach. Real GDP was used as proxy measure of economic growth, which was the outcome variable whereas the variable of interest was tourism receipts. Foreign aid, total volume of trade and ratio of government consumption expenditure to GDP were taken as control variables. The result of ARDL model shows that tourism has no significant impact on economic growth of Nepal in both short-run and long-run. However, total volume of trade has positive and significant effect on economic growth in short-run whereas foreign aid, total volume of trade and ratio of government consumption expenditure to GDP have positive and significant effect on economic growth in the long-run. In such context of tourism and growth relationship, tourism-led growth hypothesis is rejected for Nepal.

Examining the association between stock return and seasonally adjusted trade in India

This paper aims to examine the association between Indian stock market return and seasonally adjusted trade for Indian Banking sector shares. The objective of the study is to measure the association between stock return and seasonally adjusted trade in the Indian stock market and recommend strategies. Due to the Covid 19 outbreak banking sector was highly affected, the Government of India also announced a moratorium on all categories of loans, banking business majorly depending on the deposit and loan creation, so the Government decision threaten the banking sector. Many private sector banks terminated temporary staff because of cut cost policies. We divided the banking sector into three segments. Namely, Public, Private and Small Finance Banks. Utilizing daily data from February 2020 to July 2020, consisting of 2196 in numbers, we ran a panel Vector Autoregression model to analyze the association. It was found that the return of stocks is influencing the volume of trade during this period. Also, while measuring the short-run causality, it is found that the return of banking stocks specifically granger causes the volume of trade. The suggestions of the study lie in providing importance to framing policies on improving the financial health of the economy through different fiscal policies. Strategic policies are required to face post-Covid situations. The turnaround strategies to combat the effects of the pandemic are characterized by the availability of the sustainable resources of the particular sector in consideration.

Foreign Policy Relations between Russia and Turkey: A Retrospective Analysis and Modern Realities

The article is devoted to the study of Russian-Turkish relations, an analysis of their decline and the way to find new points for building a dialogue. The contradictory nature of relations between the two countries has been developing for a long time, which was facilitated by the proximity of external borders and common interests in the border territories. The modern development of international relations between the two countries is dictated by the new realities of the era of globalization. The article provides data on the volume of trade between countries, cooperation in the fields of energy and tourism before and after the 2020 pandemic. Currently, the countries maintain relations and develop in various sectors of the economy, which are really important for the growth and strengthening of relations, despite the deep roots of confrontation.

Current directions and areas of cooperation between Russia and Turkey

Исследование научной статьи посвящено актуальным сферам торгово-экономического сотрудничества России и Турции. Выявлены проблемы как при осуществлении взаимной торговли двух стран, так и при реализации двусторонних соглашений. Определены основные направления по увеличению торгового оборота и формированию благоприятного инвестиционного климата. Объемы товарооборота рассмотрены в статистике внешней торговли по итогам 2019 и полугодия 2020 гг. Выявлена роль соглашений, подписанных на уровне руководителей организаций и ведомств двух стран, обеспечивающих реализацию экономической политики. The research article focuses on current areas of trade and economic cooperation between Russia and Turkey. It reveals problems both in mutual trade between the two countries and in the implementation of bilateral agreements. The main directions for increasing trade turnover and creating a favorable investment climate are identified. The volume of trade turnover is considered in the foreign trade statistics for the results of 2019 and the first half of 2020. The role of agreements signed at the level of heads of organizations and departments of the two countries that ensure the implementation of economic policy is revealed.

Current directions and areas of cooperation between Russia and Turkey

The research of the scientific article is devoted to topical areas of trade and economic cooperation between Russia and Turkey. Problems were identified both in the implementation of mutual trade between the two countries and in the implementation of bilateral agreements. The main directions for increasing trade turnover and creating a favorable investment climate are identified. The volume of trade turnover is considered in the foreign trade statistics for the results of 2019 and the first half of 2020. The role of agreements signed at the level of heads of organizations and departments of the two countries that ensure the implementation of economic policy is revealed.

Russian Federation in Trade in Services with Foreign Countries (on the Example of Turkey)

In the article the study of relations between Russia and Turkey in the field of trade in services. The article examines the current state of Russian-Turkish cooperation in the field of trade in services, presents statistical data on the volume of trade in services, the main areas of trade in services, identifies priority and promising areas of cooperation.

The Chinese Intrigue in Kalimpong

This chapter focuses on Kalimpong, a small Himalayan town located in northern West Bengal, India. In the mid-1940s, the British intelligence officials in India identified trade through Kalimpong into Tibet as an activity that required surveillance and inspection. These officials produced detailed records on the types of commodity traded, volume of trade, diverse groups traders, and smuggling of goods. Such surveillance and intelligence gathering continued after the establishment of independent India in 1947. The intelligence officials paid special attention to individuals in Kalimpong suspected as spies for the Chinese government, both the Kuomintang and the People’s Republic of China. Using these intelligence records, the chapter analyses the portrayal of Kalimpong as a site of covert and clandestine activity. It spotlights several individuals who were identified as ‘Chinese agents’, the complicated and problematic nature of intelligence gathering and recording, the arbitrariness of the categories ‘Chinese’, ‘Tibetan’, and ‘Indian’ in a place such as Kalimpong, and the ways in which the changing geopolitical relationship between India and China in the late 1950s impacted Kalimpong and its Chinese residents.

OTC market during COVID-19 pandemic and impact on its further development

Research background: The onset of the COVID-19 pandemic strongly affected the development of the volume of trade on the OTC market. The volume was below its normal level due to the uncertainty and fear in the society. Purpose of the article: The objective of the paper was to explain the differences between the period before the pandemic, during the pandemic, and to determine the predictions of further development until the year 2025 Methods: Using the method of neural networks, the prediction of the closing exchange rate until 2025 was determined based on the data from the past years, according to which the RM index value will be higher in December this year, with a subsequent slight decrease and fluctuations. Findings & Value added: The results showed that the volume of trades was lower in the past compared to the period just before the pandemic, i.e. the year 2020, when the RM index was clearly highest. Investors should postpone investments until the value of the RM index is stable and trading on the OTC market is advantageous again. However, if they are willing to risk, investments can be made, although the return on investment will be unreasonably long.