| Srl | Item |
| 1 |
ID:
148505
|
|
|
|
|
| Summary/Abstract |
This study is an attempt to model the linkages between stock market development and economic growth in developed and emerging markets. The causality direction between stock market development and economic growth has also been examined in order to provide solid policy implications. Mainly, the relationship and direction of causality between stock market development and economic growth were tested using dynamic panel data analysis based on the Generalised Methods of Moment (GMM) and panel Granger non-causality, respectively. Additionally, panel unit root tests were also applied to check the stationary of the selected variables to avoid misleading results. The study focuses on 20 countries, both developed and emerging markets, and data were collected over the period 1990–2014 mainly from World Bank data series. Dynamic panel data analysis confirms that there is a statistically significant relationship between stock market development and economic growth in both developed and emerging markets. Further, the study emphasises that only the finance-led growth hypothesis is valid for emerging markets while developed markets support bidirectional causality between stock market development and economic growth, reflecting the existence of both the finance-led growth hypothesis and the growth-led finance hypothesis. Hence, it is crucial to formulate appropriate policies to shift unproductively allocated funds towards stock markets to meet long-term capital requirements to encourage higher economic growth.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
159808
|
|
|
|
|
| Summary/Abstract |
This article investigates the impact of casualization on the labour market of organized manufacturing industries in India. In specific, this article analyses the impact of casualization on the labour demand and output elasticity of 15 manufacturing industries in the post-liberalization period for the direct production workers. Dynamic panel data analysis of system generalized methods of moment method is used here for the estimation of lagged labour demand for permanent production workers. Aggregate level analysis ensures that casualization has a significant positive impact on the labour demand and on output elasticity. Disaggregate level analysis also confirms the significant positive impact on the output elasticity at individual industry level. However, wage share of the workers falls along with the increase in the usage of contract workers across most of the industries. Output elasticity increases but at the cost of falling wage share. Casualization generates more job opportunity but reduces the wage share for the permanent production workers in post-liberalization period.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
140011
|
|
|
|
|
| Summary/Abstract |
This study confirms the endogenous relationship between the price and quantity of deposits in the depositor discipline model. Dynamic panel data analysis is carried out to account for the lagged dependency of the deposits growth variable and endogeneity of the price mechanism in the depositor discipline model. The results show that depositors in East Asia do not demand a higher price for deposits. Analysis by subdividing the sample of banks into healthy and weak banks shows that the relationship between price and quantity is not non-linear. Healthy banks are not able to attract more deposits by raising price. Depositors do not discipline weak banks by demanding a higher return. Lack of responsiveness by depositors to price signals may be attributable largely to the outflow of deposits that happened during the crisis period and regulations on interest rates.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
ID:
173859
|
|
|
|
|
| Summary/Abstract |
Applying a novel approach based on online query volume data, this study provides the first large-scale portrait of revolutionary nostalgia among the Chinese, undertaking an empirical analysis of how the aggregate level of nostalgia is shaped. For each Chinese province, we use the normalized frequency of searches for red songs on Baidu, the most widely used online search engine in China, to quantify the local level of nostalgia. We find that the evolving trends of nostalgia among the provinces are similar but stratified. The results from the dynamic panel data analysis using the Generalized Method of Moments indicate that revolutionary nostalgia is significantly affected by a set of socio-economic determinants, including GDP per capita, income inequality, social development, legal development and the degree of globalization.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|