• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.271-282
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• 2021

In recent years, a significant number of empirical studies have examined the relationship between export and economic growth in India. However, this study analyses the relationship between exports and economic growth through the time series model. The main aim of this study is to investigate the causal relationship between exports and economic growth in India. The VAR model was used for the period 1961 to 2015 after verifying the stationarity of the variables through using Augmented Dickey-Fuller and Phillip-Perron tests. The Indian export sector has been found to have a significant and positive impact on economic growth and other long-term economic activities. The study also employed the Granger causality test to check the direction of causality and found that RXGS, RGDP, RPFC, and RGFC had a unidirectional relationship and RXGS and RMGS had a bidirectional relationship in long run. Also, the findings of this study suggest that a steady-state between exports and economic growth can be achieved in India over a long period. The overall outcome of this study provides a testimony of the fact that the export sector plays a vital role in economic growth in India and also leads to the long-term growth of other economic activities.

• Journal of the Korean Society of Systems Engineering
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• v.18 no.2
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• pp.149-159
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• 2022

This study investigated the relationship between economic growth and energy security risk levels in Korea using linear and non-linear ARDL methods. While there are many studies on the relationship between energy consumption and economic growth, few studies focus on the relationship between energy security and economic growth considering 4A dimensions of energy security such as energy availability, accessibility, acceptability, and affordability. Energy risk index from Global Energy Institue and GDP data from world bank are used for ARDL and NARDL analysis. Our result of ARDL shows that there is no long-term relationship between energy security risk levels and economic growth. On the other hand, NARDL result shows that there is an asymmetric relationship between economic growth and energy security risk levels in the long run. The results show the importance of expending further research on ensuring energy security to policymakers.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.213-222
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• 2023

This paper mainly studies the relationship between financial development, inbound tourism development, and economic growth rate in Fujian Province, China. This study uses the data of real GDP, foreign exchange income from international tourism, and financial interrelations ratio from 1994 to 2019. In the analysis process, the Johansen cointegration test is first used to analyze whether the three have a long-term equilibrium relationship. Then the vector error correction model is established to test the restrictive relationship among the three. Next, the Granger causality test assesses whether the three have a causal relationship. Finally, the contribution rate of the three is analyzed by variance decomposition. The above methods show the following conclusions: first, the three have a long-term equilibrium relationship. Secondly, in the short term, local economic growth is constrained by inbound tourism and financial development. Thirdly, there is a causal relationship between economic growth and inbound tourism in Fujian, while there is a unidirectional causal relationship between financial development and economic growth, financial development, and inbound tourism. Fourthly, the contribution rate of inbound tourism to economic growth fluctuations in Fujian is higher than that of financial development.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.287-298
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• 2019

The purpose of this study to investigate the impact of rewards on job satisfaction and whether economic trends moderate the relationship of job satisfaction and rewards or not. Furthermore, this study also investigates whether the relationship between job satisfaction and reward is linear or nonlinear and whether the relationship diminishes or improves with predictor inclusion. Data collection was done through online and self-administered questionnaires by adopting cluster sampling technique from higher education institutions of Pakistan. Results based on 2160 responses suggest that economic trends moderate the relationship of job satisfaction and reward while assuming the economic trends as perceived rewards. The logit model was adopted to probabilistic relationship between job satisfaction and reward in moderation with economics trends. The moderations magnify the impact of rewards on job satisfaction. The job satisfaction is more sensitive to extrinsic reward as compared to intrinsic reward. The relationship of job satisfaction and reward is nonlinear for both extrinsic and intrinsic reward suggesting the diminishing relationship of job satisfaction and rewards. This study has pivotal implication for the higher education sector as it helps the sector to align the rewards with economic and trends and can normalize the reward after assessing the nonlinear stricture of relationship.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.11-19
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• 2021

This study aims to analyze the causality relationship between sectoral stock markets (agricultural, financial, industrial, and mining sectors) and economic growth in the short and long term as well as to analyze whether it has similar types or not. The data used is quarterly time-series data (first quarter 2009 to fourth 2019). To determine the causality relationship, this study conducts a variable and multivariate causality test. The results of the varying granger causality test show that there is only a one-way relationship, where the economic growth of the agriculture sector affects its shares. A one-way relationship also occurs in stocks of the industrial sector, which has an influence on economic growth. The multivariate causality test shows that the economic growth of the agricultural sector has a two-way causality relationship, and it also exists between the industrial sector and the financial sector stock markets. The two-way causality relationship between the stock market and sectoral economic growth is a convergence towards long-term equilibrium. The findings of this study suggest that the government through the Financial Services Authority and the Indonesia Stock Exchange have to maintain stability in the stock market as a supporter of the national economy.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.165-170
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• 2021

This paper examines the long-run relationship between financial development and economic growth. The effective function of financial development is crucial to promote the economic development of the country. To achieve the objective, this study used Gross Domestic Product as a dependent variable and Credit to The Private Sector, Ratio of the Gross Fixed Capital Formation to GDP, Trade, Consumer Price Index and Labour Force as an independent variable. Augmented Dickey-Fuller test statistic (ADF) to check the stationary. Bounds test for cointegration and Auto-Regressive Distributed Lag Models (ARDL) are used to check cointegrating relationship amongst the variables and causality between financial development and economic growth. Moreover, the Model selection method is Akaike Info Criterion (AIC). This result demonstrates that the labor force and trade hold a significantly negative relationship with economic growth. Nevertheless, inflation, Credit to The Private Sector, and Ratio of the Gross Fixed Capital Formation to GDP show a significantly positive relationship with economic growth. Therefore, there is a statistically significant relationship between Financial Development and Economic growth in Sri Lanka and the Sri Lankan government should reform its trade policies.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.203-212
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• 2023

This research work aims to investigate the role of FDI in Economic Development by assessing its relationship with GDP per capita in Vietnam +5 from 1986-2020. Through descriptive statistical, correlation matrix analysis, and econometric models, including Vector Error Correction Model (VECM) and Feasible Generalized Least Squares (FGLS) estimation methods using Stata 15.1. The VECM estimation method results show that FDI positively impacts Economic Development in the short run while not finding a long-run relationship. In addition, it is found that a clear relationship between Exports and Economic Development in both the short run and the long run. Meanwhile, CO2 emissions and Employment Opportunities have no clear relationship with Economic Development in the short run. However, the relationship is reversed in the long run, as the empirical study in Vietnam. The results of the FGLS estimation method show that FDI, CO2 emissions, and Exports have a significant and positive impact on Economic Development in five selected Southeast Asian countries without Employment Opportunities in the long run. From these findings, the author proposes some policy implications of attaching FDI to sustainable Economic Development in Vietnam next time.

• Journal of Distribution Science
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• v.13 no.4
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• pp.29-33
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• 2015

Purpose - This paper aims to explain the interactive relationship between small and medium-sized enterprises' clusters and regional economic growth, with Jiangsu Province as an illustrative example. It focuses on studying the promotional effects, if any, of small and medium-sized enterprises' cluster-development on regional economic growth, and vice-versa. Research design, data, and methodology - Data were collected from the Jiangsu Statistical Yearbook and the China Industrial Economic Statistical Yearbook, by selecting 26 industries as the research subjects. The sample interval selection is 1981-2012. The data were analyzed with the dynamic panel system using stata 12.0. Results - 1) The small and medium-sized enterprises' cluster degree and Jiangsu's economic growth have a long-term stable equilibrium relationship. 2) In the short term, they have a dynamic adjustment 3) The enterprises' cluster degree leads to regional economic growth in Jiangsu, but not vice-versa. Conclusions - Small and medium-sized enterprises' clusters have an important promotional effect on Jiangsu's economic growth, especially industries with high degree of agglomeration. Therefore, the formation of these clusters can significantly improve economic growth.

• East Asian Economic Review
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• v.19 no.2
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• pp.143-166
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• 2015

This paper investigates the empirical evidence on the relationship between financial accessibility and economic growth to test the conventional hypothesis that improved financial accessibility leads to financial development and economic growth. First, we built a dynamic panel model on the relationship between financial accessibility and economic growth with a set of controlled variables. We then used several financial access indicators from 165 countries, collected from 2004 to 2011, applying the generalized method of moments (GMM) estimators to estimate their relationship. From these estimations, we found that high financial accessibility leads to high income in general. In addition, we found that an increase in financial access indicators had a greater impact on economic growth in low-income countries than it did on economic growth in high-income countries.

• Journal of Family Resource Management and Policy Review
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• v.16 no.3
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• pp.35-51
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• 2012

The purpose of this study was to assess middle-aged married men and women's access to family resources (economic and relationship) and to examine how this affects their life satisfaction. Data were drawn from the second wave of the Korean Longitudinal Study of Ageing (KLoSA). The sample consisted of 3,265 middle-aged married men and women aged between 45 and 60, who had children. The collected data were analyzed using multiple regression, ANOVA and the Scheff$\acute{e}$ctest using SPSS 18.0 The results showed that there was significant difference between men and women in terms of their access to economic and human relationship resources. In addition, the life satisfaction of the middle-aged was found to be significantly predicted by their access to economic and human relationship resources. In particular, the life satisfaction of group (A), who had low economic resource access but high family relationship satisfaction, was found to be higher than that of group (B), who had access to high economic resources but had low family relationship satisfaction This result indicated that there was an interaction effect between family resources. A number of policy implications were made.