Economics & Business

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Total Articles 1 - 9 of 6582 | Total Books 1 | Total Conference Proceeding 81

Determinants of Bank Deposits in Ghana: A Cointegration Approcah

Author(s):Otu Larbi-Siaw --- Peter Angmor Lawer
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 1--7
The study investigates the influence of selected macroeconomic and financial level variables on bank deposits in Ghana. It specifically examines the dynamic effect of deposit interest rate, inflation, monetary policy rate, growth of money supply and stock prices (All Share Index) on the level of bank deposits. The dataset for the study consisted of quarterly data spanning the years of 2000 to 2013 gathered from the Bank of Ghana (BoG) monetary time series database and the World development Indicator (WDI) database. Employing a Co-integration analysis and Fully Modified Ordinary Least Square (FMOLS), both short and long run elasticity?s of the model are estimated. The preliminary test for unit root indicated that all the variables are integrated of order one (an I (1) process) and the co-integration revealed the presence of one co-integrating equation. Empirical findings form the study indicates a significantly negative short-term impact of both inflation and growth of money supply of bank deposits in Ghana. The long-run effects of the various independent variables on bank deposit are also discussed. Some of the variables conformed to priori expectations, albeit insignificant. Appropriate measures are also recommended based on the findings thereof.

Measuring the Stance of Monetary Policy in Vietnam: A Structural VAR Analysis

Author(s):Le, Thanh Ha
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 8--22
This study aims deriving the State Bank of Vietnam?s operating procedures based on a model that considers three channels of monetary transmission, including interest rate channel, the exchange rate channel, and the money channel. There are 4 main finding in this study. Firstly, the reactions of the money demand, exchange rate and interest rate to diverse innovations are generally consistent in different periods, but there were some changes in the period after the global financial crisis. Secondly, instead of concentrating particularly on one target, the monetary policy implementation has become more effective and pervasive, if the central bank attempts to control a combination of these targets. Thirdly, the stance measure derived from the model consistently reflects the historical performance of monetary policy which the central bank implemented to affect the GDP growth and inflation in Vietnam. Among three policy variable, the exchange rate comprises the remarkable amount of information about the policy stance. Finally, this study also examines the relationship between the stance and inflation and output growth and realizes that the theory about these relationships is statistically held in Vietnam under assumption that there is no other shock or the policy dominates other.

Dynamics of Business Cycles in Vietnam a Comparison with Indonesia and Philippines

Author(s):Le, Thanh Ha
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 23--38
The main purpose of this paper is to investigate the impacts of structural shocks on macroeconomic fluctuations in Vietnam, and then make a comparison to Indonesia and the Philippines. The study adopts the Structural Vector Autoregressive (SVAR) originated by Shapiro and Watson (1988) and Blanchard and Quah (1989) with long-run restriction for small open-economy with flexibility of price, suggested by Ahmed and Park (1994) and Gali (1992). The evidence for countries suggests that: (i) the main source of output variance is domestic supply shocks but there is a significant decrease in long-run; (ii) the fluctuations of trade balance are mostly due to external shocks, especially term of trade shocks in Vietnam, as opposed to Philippines and Indonesia where IS shocks play an important role; (iii) the fluctuations of real exchange rate are mainly driven by the domestic shocks but internal causes of each country are different; (iv) the two important sources of price?s movements are domestic shocks, especially IS and nominal shocks in Vietnam.

Taxation and Capital Structure: Evidence from Russian Companies

Author(s):Elena Makeeva--- Tatiana Kozenkova
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 39--46
This paper presents a study of the impact of taxation on the capital structure of Russian companies, based on the Graham model. The study revealed that it is more appropriate to include the effective tax rate in the model, rather than use the marginal tax rate since it is more applicable for the Russian companies.

A Methodological Note on the Construction of High Frequency Macroeconomic Series: Evidence from Tunisia

Author(s):Hathroubi Salem1
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 47--51
This note aims to formulate and to apply a combined method of the Loss Quadratic Function of Denton and the Best Linear Unbiased Estimator of Chow-Lin to construct quarterly data for Tunisia. High frequency series for GDP and total investment are obtained from related series which exist in high (quarterly) and low (annual) frequencies for the period 1970-2013. Tunisia began publishing quarterly GDP only since 2001Q1. We use these series to compare our estimates to those published by the Tunisian National Institute of Statistic (INS). Results show that the combined method generates high quality quarterly series.

Applying a Fuzzy Analytic Hierarchy Process to Demand Considerations of Households Opting for Mortgage Loans

Author(s):Otu Larbi-Siaw --- Michael Owusu-Akomeah --- Fiifi Okyere Amaning
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 52--61
The need for high economic development across the entire globe and Sub-Saharan Africa in particular has led to the awareness of the need to increase the housing base across the continent. The astronomical increase in population and urbanisation and its associated problems of accommodation call for the need to provide good housing for the people of Ghana; the provision of which could depends largely on the availability of mortgage facilities. However, obtaining the right mortgage is as crucial as obtaining the right home, yet buyers seemingly do not invest as much time and effort in a mortgage search as in house searches. It is against this backdrop that this study investigates factors considered by households before acquiring mortgage loans. A questionnaire was administered within the Accra metropolis, the area of Ghana with the most mortgage loan providers. We employed the fuzzy analytic hierarchy process (FAHP) to analyze the thought processes of households when making their decisions on acquiring a mortgage loan. The results indicated that factors considered by households when opting for a mortgage loan, ordered based on their degree of importance, were "Employment", "Housing Market Conditions", "Personal Factors", "Economic Factors", "Mortgage Lender Policy", "Housing Alternatives", "Knowledge", and "Social Factors". The weights of the first four factors were as high as 70.99% (Buckley?s method) and 69.70% (Chang?s method). These four items, have the most impact on household demand considerations when opting for a mortgage loan. If these factors are significantly improved, then, they can have a positive microeconomic impact on actual households demand for mortgage loans, in turn making the mortgage market a lucrative business.

Inequality and Unemployment Management

Author(s):Kwangsik Jung
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 62--73
Many studies have claimed that inequality and unemployment should be reduced. They also assert that the middle class should be increased for economic development. These strategies sound like similar outcome strategies. However, what would happen if they were not? In other words, if reducinginequality and unemployment risks aggravating the middle class, how should we manage inequality and unemployment? In this paper, we will examine this.

Households? Perception of Factors Influencing Agricultural Productivity in Ogoni Community: An Ordinal Logit Approach

Author(s):Ojide Makuachukwu Gabriel --- Onyukwu Onyukwu E.--- Ikpeze Nnaemeka
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 76--82
Agriculture is the principal means of livelihood in Ogoniland of Niger Delta region of Nigeria. Ascertaining the determinants of agricultural productivity in the community is therefore important in meeting food security and income needs. This study uses survey data of 400 households in Ogoni community. The data was collected using a multistage sampling method. An ordinal logit regression model was estimated. Descriptive analyses indicate that 75.8% of the surveyed households were involved in agricultural production and that only 37.1% of the households involved in agriculture had lost their agricultural produce due to oil spoilage in the last two years. The ordinal logit regression model identifies government intervention towards cleaning of polluted land and water, land degradation, air pollution and household income as significant determinants of agricultural productivity in the community. However, land degradation and air pollution are negatively associated with agricultural productivity while government intervention towards cleaning of polluted land and water and household income are positively related to agricultural productivity in Ogoni community. On the other hand, the result indicates that corporate social responsibility of oil firms towards cleaning of polluted land and water), oil spill and education attainment of household head are not among the significant determinants of agricultural productivity in Ogoni community.

Vertical and Horizontal Integration as Determinants of Market Channel Choice among Smallholder Dairy Farmers in Lower Central Kenya

Author(s):James K.Mutura --- Newton Nyairo--- Maina Mwangi --- Stephen K. Wambugu
Journal: Asian Journal of Economics and Empirical Research
Publisher:Asian Online Journal Publishing Group
Abstract
| Pages: 83--90
This study sought to analyse vertical and horizontal integration as determinants of market channel among smallholder dairy farmers in Lower Central Kenya. Data was collected from 288 small holder dairy farmers in this region using multistage sampling technique. Processing and analysis of the survey data was carried out using SPSS version 20 and STATA version 12. Multinomial logit regression model (MNL) was used to analyse factors influencing the choice of dairy market outlet by the small holder dairy farmer. Level of education, milk output, access to information and transaction costs influenced the choice of marketing channel. Vertically integrated households used own outlet as marketing channel while horizontally integrated households used cooperative and farmers associations as milk marketing channel. It is recommended that programmes relating to milk market information be made accessible to farmers. There is need to profile farmers on the basis of production, spatial location and education level and encourage them to use specific marketing channel.
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