Asian Economic and Financial Review
About: Asian Economic and Financial Review is an academic journal published by Conscientia Beam. The journal publishes majorly in the area(s): Stock exchange & Stock market. It has an ISSN identifier of 2222-6737. It is also open access. Over the lifetime, 1067 publications have been published receiving 7857 citations. The journal is also known as: AEFR.
TL;DR: In this paper, the authors studied the effect of in equality on economic growth of a set of eight developing countries during the period 2000-2009, using a dynamic panel data model and a simultaneous equations model.
Abstract: The objective of this paper is to study the effect of in equality on economic growth of a set of eight developing countries during the period 2000-2009, using a dynamic panel data model and a simultaneous equations model The key findings generated from these two empirical tests stipulate a negative effect of inequality on economic growth and vice versa
TL;DR: In this article, the causal relationship between tourism revenue and gross domestic product (GDP) using the panel data of 135 countries for the period 1995-2008 was investigated using Panel Granger causality analysis, which was applied to 11 groups of countries and found that there is a unidirectional causality in America, Latin America & Caribbean and World from GDP to tourism revenue.
Abstract: This paper investigated the causal relationship between tourism revenue and gross domestic product (GDP) using the panel data of 135 countries for the period 1995–2008. For this purpose, Panel Granger causality analysis was applied to 11 groups of countries. This classification was created as America (30 countries), Asia (34 countries), Europe (37 countries), East Asia (13 countries), South Asia (6 countries), Central Asia (5 countries), Latin America & Caribbean (28 countries), Oceania (7 countries), Middle East & North Africa (11 countries), Sub Saharan Africa (24 countries) and the world (135 countries). Results indicated bidirectional causality in Europe between tourism revenue (TR) and gross domestic product (GDP). Findings showed that there is a unidirectional causality in America, Latin America & Caribbean and World from GDP to tourism revenue. While in case of East Asia, South Asia and Oceania the reverse direction of causality was found from tourism revenue to GDP. No causal relationship was found in Asia, Middle East and North Africa, Central Asia and Sub Saharan Africa.
TL;DR: In this paper, the effect of federal government expenditure on economic growth in Nigeria was investigated by using the augmented Solow model in Cobb-Douglas form with public capital as one of the factors.
Abstract: The debate on the use of fiscal policy for economic stabilization andinducement of economic growth is an old one Key issue in this debate relatesto the efficacy of public expenditure on stimulating economic growth Theneo-classical school held on extreme position by refuting the usage of fiscalpolicy to regulate the economy even in the time of economic crisis At theother extreme are those who emphasize the efficiency of fiscal policy instabilizing economic fluctuations and stimulating growth There is nearly aconsensus on the short-run effects of fiscal policy on the economy Fiscalpolicy can temporarily raise or lower national income or counteractmacroeconomic disturbances that would otherwise influence national outputThis paper contributes to this debate by investigating the effect of federalgovernment expenditure on economic growth in NigeriaAn augmented Solow model is specified in Cobb-Douglas form with publiccapital as one of the factors Public expenditure is used as proxy for publiccapital which is further decomposed by sectors This helps us to investigatethe impact of each sector on economic growth The decomposition is in threeexpenditure streams: (i) expenditure on building human capital- publicexpenditure on education and health; (ii) expenditure on buildinginfrastructure- public expenditure on transport and communication, and othersocial services; and (iii) expenditure on administration which is necessary forthe functioning of government;A multivariate time series framework is used Augmented Dickey- Fuller testindicated that two of the variables are stationary at first difference while othervariables are stationary at levels While Phillips Peron tests show that threeare stationary at levels and others at first difference Results of the regressionsshow that in the short run public spending has no impact on growthHowever, Cointegration and VEC results show that there is long runrelationship between public expenditure and growth
TL;DR: In this paper, the effects of micro-finance on micro and small business growth in Nigeria were investigated, and they found strong evidence that access to microfinance does not enhance the growth of small enterprises in Nigeria.
Abstract: This paper investigates the effects of microfinance on micro and small business growth in Nigeria. The objectives are: one, to examine the effects of different loan administration practices (in terms of loan size and tenor) on small business growth criteria. Second, to examine the ability of Microfinance-Banks (MFBs) (given its loan-size and rates of interest charged) towards transforming micro-businesses to formal small scale enterprises. The paper employed panel data and multiple regression analysis to analyze a survey of 502 randomly selected enterprises finance by microfinance banks in Nigeria. We find strong evidence that access to microfinance does not enhance growth of micro and small enterprises in Nigeria. However, other firm level characteristics such as business size and business location, are found to have positive effect on enterprise growth. The paper recommends a recapitalization of the Microfinance banks to enhance their capacity to support small business growth and expansion.
TL;DR: In this article, the authors investigated the impact of micro-finance on agricultural productivity by smallholder farmers in Tanzania with the case study of Iramba District, where a total of 98 respondents were selected randomly from credit beneficiaries (CB) and non-credit beneficiaries (NCB).
Abstract: Over the past two decades, there has been a high promotion of microfinance institutions (MFI) in Tanzania. In 1990s there was only 825 MFI which increased to 1,875 in 2005. Currently, the country is estimated to have more than 5000 MFI. The promise of MFI lies in the belief that microfinance could empower poor people to fight against poverty through easy access to credit. But what is the actual impact of MFI on the ground? Empirical evidence in this area is inconclusive. The objective of this study was to investigate the impact of microfinance on agricultural productivity by smallholder farmers in Tanzania with the case study of Iramba District. A total of 98 respondents were selected randomly from credit beneficiaries (CB) and noncredit beneficiaries (NCB). The collected data were analyzed through descriptive statistics and multiple regression analysis. Findings revealed that, CB realized high agricultural productivity compared to the NCB respondents. This is partly because the CB were relatively better in accessing markets for agricultural commodities, use of inputs and adoption of improved farming technologies. The major factors hindering smallholder farmers’ access to credit were reported to be lack of information, inadequate credit supply, high interest rates and defaulting.