• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.203-212
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• 2021

Theoretically, economic growth necessitates financial liberalization. Thus, the current research examines the effect of financial liberalization on economic growth in emerging nations, with a particular focus on Egypt and Saudi Arabia. To determine this effect, the study employs a model that uses Gross Domestic Product growth as the dependent variable and the following macroeconomic variables as financial liberalization indices: Broad money as a percentage of GDP, Domestic bank credit to the private sector as a percentage of GDP, Monetary sector credit to the private sector as a percentage of GDP, Net inflows of foreign direct investment as a percentage of GDP. All data is annual data of Egypt and the Kingdom of Saudi Arabia for the period 1970-2018 obtained from the World Bank open data website. The empirical investigation employs the Autoregressive Distributed Lag (ARDL) approach. The findings indicate that, after more than three decades of implementation, both countries' financial and external liberalization policies do not have a favorable effect on their economies' growth rates. Additionally, this study has led us to conclude that any financial liberalization policy in both countries must be preceded by the strengthening of these countries' financial development and institutional frameworks, as well as the achievement of macroeconomic stability.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.99-109
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• 2021

This study aims to examine the causal links between the fiscal components, i.e., government expenditures (GE) and government revenues (GR), and their impact on the economic growth of the Association of Southeast Asian Nations (ASEAN) region. This analysis considered secondary panel data from 1990 to 2019 at an annual frequency. The data is obtained from the Asian Development Bank (ADB) and World Bank Database. A panel cointegration and panel DH causality (Dumitrescu and Hurlin) approach was employed on financial data at an annual frequency from 1990 to 2019. The findings from panel unit root and panel cointegration tests demonstrate that, at first, all the variables are stationary and cointegrated. The panel ARDL disclosed that GE has a long-run connection with GDP, is significantly and positively associated with economic growth in the long run, whereas GR is significant in the short run. The contribution of GE is high in sustaining economic growth as compared to GR. Also, cointegration regression disclosed that GE is more sensitive toward GDP, while GR is less elastic. Lastly, the findings reveal that bidirectional causality exists between GE and GR variables. These results have policy implications for sustainable economic growth in the ASEAN region.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.783-790
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• 2021

The remittances play a major and a very critical role in promoting economic growth and development activities in the developing countries. In this study, the relationship between per capita gross domestic product (GDP) and remittances paid has been investigated based on the case studies in Malaysia from 1987 to 2018. Data was collected from various sources namely statistical yearbook by World Bank and Asian Development Bank. All variables are expressed in natural logarithm form. The technique utilized is the nonlinear autoregressive distributed lags (hereafter NARDL) approach which was introduced by Shin et al.(2014) to examine both short run and long run relationships, as well as the direction of causality, due to the asymmetric relationship between GDP and remittances. The bound test verifies asymmetric cointegration among the variables. The empirical results show that the remittances paid has a momentous short-run and long-run effect towards capital accumulation in Malaysia. Remittances also increase a positive relationship with capital accumulation for Malaysia. We found that remittances form a significant source of external capital and investment for developing countries especially Malaysia which helps in promoting economic development. Furthermore, as a developing country, foreign workers are a source of income to the receiving countries and an indicator to boost sender countries.

• 유통과학연구
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• 제19권8호
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• pp.13-24
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• 2021

Purpose: This research is aimed to explore factors affecting on Kazakhstan's pharmaceutical distribution industry, selection of various factors and assessment of the level of their influence. Based on the literature review it was defined that there is a great variety of scientific works relating to pharmaceutical distribution industry competitiveness and management improvement. Research design, data and methodology: There is very little research, which to determine the issues of pharmaceutical industry distribution in developing countries, in particular EAEU countries. The algorithm was chosen for research provision: statistical and comparative analysis, correlation, and regression analysis. The data of 1993-2020 obtained from the World Bank, Bureau of National Statistics, National Bank of Kazakhstan, which is expressed by 19 factors as macroeconomic indicators. Results: The chosen variables were selected non-randomly, these economic indicators had the most reliable, unique, and utmost for the whole research period complete information. Conclusions: There could be made adequate conclusions of the research, there is a strong positive relationship for six factors: population, GDP per capita, average annual US dollar exchange rate, the minimum pension, average assigned monthly pension, minimum wage. Pension and wage are the most significant factors affecting on the pharmaceutical distribution industry in Kazakhstan.

• The Journal of Asian Finance, Economics and Business
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• 제9권8호
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• pp.1-6
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• 2022

This paper uses the gravity model estimated by the random effect method to analyze the factors affecting Vietnam's coffee export turnover for the period 2007-2020 major markets according to statistics from the General Statistics Office and the General Department of Customs. Coffee export turnover was collected from the General Statistics Office, General Department of Customs, and Vietnam Cacao Coffee Association. The authors calculated the price of coffee based on output and export value from data on coffee export turnover; the authors calculated the economic gap based on population and Gross Domestic Product data (reference: geographic distance metrics on the website: http://www.distancefromto.net/countries.php) and other data was collected based on the databases of the Food and Agriculture Organization of the United Nations, the International Monetary Fund, and World Bank organizations. The results of the study show that from 2007 to 2020, the factors of Vietnam's export price of coffee, geographical distance, Gross Domestic Product of the importing country and Gross Domestic Product of Vietnam, the population of Vietnam, the economic gap between Vietnam and the importing country, the openness of the economy, all have an impact on Vietnam's coffee export turnover. Finally, some conclusions about the policy's impact are made based on the empirical results of the paper.

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2023년도 학술발표회
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• pp.35-35
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• 2023

The main reason for its instability is sediment scouring downstream of hydraulic structures. Both physical and numerical models have been used to investigate the influence of soil properties on scour hole geometry. Nevertheless, no research has been conducted on resistance parameters that affect sedimentation and erosion. In addition, auxiliary structures like wing walls, which are prevalent in many real-world applications, have rarely been studied for their impact on morphology. The hydraulic characteristics of steady flow through a boxed culvert are calibrated using a 3D Computational Fluid Dynamics model compared with experimental data in this study, which shows a good agreement between water depth, velocity, and pressure profiles. Test cases showed that 0.015 m grid cells had the lowest NRMSE and MAE values. It is also possible to quantify sediment scour numerically by testing roughness/d₅₀ ratios (c_s) and diversion walls at a meander flume outlet. According to the findings, c_s = 2.5 indicates a close agreement between numerical and analytical results of maximum scour depth after the culvert; four types of wing walls influence geometrical deformation of the meander flume outlet, resulting in erosion at the concave bank and deposition at the convex bank; two short headwalls are the most appropriate solution for accounting for small changes in morphology. A numerical model can be used to estimate sediment scour at the meander exit channel of hydraulic structures based on the roughness parameter of soil material and headwall type.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.347-354
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• 2022

This article examines the influence of Basel III reforms, risk management, and banking sector efficiency on banks' financial stability in emerging countries. The data for this study is collected from various sources. Based on the GDP classification of IMF, the top 22 countries were selected as the sample. The sampling frame includes all six regions of the world including 482 banks and 3022 observations in total. The empirical analysis is carried out by estimating the random effects models. It is found that the effects of capital buffer, liquidity, and risk management practices are significant on financial stability. It is also noticed that the capital buffer has a constructive and significant influence on financial stability. However, liquidity management shows a mixed impact, as in some countries, its impact is positive and significant while, in other countries, it is insignificant. Risk management practices have an overall positive influence on financial stability in the case of large economies. However, results are insignificant in the case of small economies. Bank-specific variables, namely profitability, size, and efficiency have a positive whereas, loan quality has a negative impact on financial stability in the emerging countries. GDP has a positive impact on financial stability whereas inflation and unemployment both have a negative effect on financial stability.

• Asian Journal of Business Environment
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• 제12권1호
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• pp.25-33
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• 2022

Purpose: The purpose of this paper is to determine the effects of the Real Estate Transactions Tax (RETT) on the economic cycles of Saudi Arabia. A secondary purpose is to determine the effects of RETT on the construction and real estate sectors of Saudi Arabia. Research design, data and methodology: The data used is retrieved from the General Authority of Statistics, Saudi Central Bank and the World Bank Open Data. Econometric models of multiple linear regression with dummy variables have been conducted to achieve the objectives and to quantitatively verify the hypotheses. Results: With the VAT exemption in real estate transactions and its substitution with RETT, a positive effect on the economy and the real estate sector has been observed. However, this tax reform has not produced any significant effects in the construction sector. Conclusions: The main conclusion of the present research is that the real estate market has a major influence on economic cycles. After the tax reform, a reduction in the contribution of taxes on real estate transactions to GDP was detected. For the construction sector, after the tax reform, it is estimated that there will be an insignificant reduction in the contribution of the real estate price index, and of the taxes on real estate transactions, to GDP.

• 유통과학연구
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• 제21권7호
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• pp.41-50
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• 2023

Purpose: The purpose of the research is identified factors influencing the competitiveness of the copper industry in Kazakhstan. Research design, data and methodology: A few studies are dedicated to the analysis in developing countries, particularly Kazakhstan. The algorithm was chosen for research provision: statistical and comparative analysis, correlation, and regression analysis. The data of 1999-2021 obtained from the World Bank, Bureau of National Statistics, National Bank of Kazakhstan. Results: The obtained results demonstrate the trends in the development of the industry since 2000. The development of the copper industry is strongly influenced by the distribution and state of the business environment, economic situation, and trends in the global commodity markets. Conclusions: According to econometric modeling, there is a correlation between the profitability of the copper industry, GDP, copper prices, liquidity, and energy resource prices. Trends in global commodity and energy markets have a significant impact on the state of the industry. Further research should be conducted to include an analysis and forecast of internal factors that may affect the development of the industry, such as copper reserves, condition of fixed assets, government programs, etc. It is also important to examine the correlation with the trends in the development of the global green economy and the revival of the Chinese market.

• 한국자원식물학회:학술대회논문집
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• 한국자원식물학회 2020년도 추계국제학술대회
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• pp.14-14
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• 2020

In December 2019, the COVID-19 epidemic was discovered in Wuhan, China, and since has disseminated around the world impacting human health for millions. Herein, in-silico drug discovery approaches were utilized to identify potential candidates as Severe Acute Respiratory Syndrome coronavirus 2 (SARS-CoV-2) main protease (M^pro) inhibitors. We investigated several databases including natural and natural-like products (>100,000 molecules), DrugBank database (10,036 drugs), major metabolites isolated from daily used spices (32 molecules), and current clinical drug candidates for the treatment of COVID-19 (18 drugs). All tested compounds were prepared and screened using molecular docking techniques. Based on the calculated docking scores, the top ones from each project under investigation were selected and subjected to molecular dynamics (MD) simulations followed by molecular mechanics-generalized Born surface area (MM-GBSA) binding energy calculations. Combined long MD simulations and MM-GBSA calculations revealed the potent compounds with prospective binding affinities against M^pro. Structural and energetic analyses over the simulated time demonstrated the high stabilities of the selected compounds. Our results showed that 4-bis([1,3]dioxolo)pyran-5-carboxamide derivatives (natural and natural-like products database), DB02388 and Cobicistat (DB09065) (DrugBank database), salvianolic acid A (spices secondary metabolites) and TMC-310911 (clinical-trial drugs database) exhibited high binding affinities with SARS-CoV-2 M^pro. In conclusion, these compounds are up-and-coming anti-COVID-19 drug candidates that warrant further detailed in vitro and in vivo experimental estimations.