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on Central and Western Asia |
|
Issue of 2011‒01‒16
nine papers chosen by Bibhu Prasad Nayak Institute for Social and Economic Change |
| By: | Alasrag, Hussien |
| Abstract: | This research aims to study the role of Islamic finance in achieving economic security. Economic security is composed of basic social security, defined by access to basic needs infrastructure pertaining to health, education, dwelling, information, and social protection, as well as work-related security. The research is divided into four parts. The first part highlights the limitations of investing money in Islamic law, while Part II presents the most important advantages of Islamic finance. Part III examines the role that can be played by Islamic finance in achieving economic security; through shed light on the concept of economic security, then the most important obstacles facing Islamic finance in achieving economic security. finally ,Search Results and The most important recommendations. |
| Keywords: | Islamic finance ; economic security |
| JEL: | O1 G0 |
| Date: | 2010–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:28013&r=cwa |
| By: | Nasir nadeem, Dr.; khalid Mushtaq, Dr. |
| Abstract: | In this study long run relationship between agricultural research and TFP (total factor productivity) is estimated by using Cointegration technique for 1970-2005. The results of the long run relationship between TFP and agricultural research indicate that agricultural research has a significant and positive impact on TFP. The estimated coefficient of research is 0.571 and it is significant at 1 percent level of significance. Granger-causality tests show a bidirectional relationship between research and productivity. The estimate of marginal internal rate of return (MIRR) to research is found to be 73 percent, indicating that Punjab agricultural research system remained productive. |
| Keywords: | Productivity; TFP; Cointegration; MIRR; Granger Causality. |
| JEL: | Q16 O30 O13 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:27769&r=cwa |
| By: | Yavuz Arslan; Evren Ceritoglu |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:tcb:econot:1017&r=cwa |
| By: | Love, Inessa |
| Abstract: | This paper uses data on publicly listed companies in Jordan to evaluate corporate vulnerability and perform corporate stress testing. The exercise finds that both earnings and interest rate shocks have significant impact on corporate vulnerability. Because different banks have different sector exposures, and different sectors exhibit different vulnerability at different times, the stress tests that include corporate exposure will provide a more precise evaluation of bank soundness. |
| Keywords: | Debt Markets,Banks&Banking Reform,Access to Finance,Economic Theory&Research,Emerging Markets |
| Date: | 2010–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:5502&r=cwa |
| By: | Sambit Bhattacharyya; Roland Hodler |
| Abstract: | We theoretically and empirically examine the relationship between natural resource revenues and financial development. In the theoretical part, we present a politico-economic model in which contract enforcement is low and decreasing in resource revenues when political institutions are poor, but high otherwise. As poor contract enforcement leads to low financial development, the model predicts that resource revenues hinder financial development in countries with poor political institutions, but not in countries with comparatively better political institutions. We test our theoretic predictions systematically using panel data covering the period 1970 to 2005 and 133 countries. Our estimates confirm our theoretical predictions. Our main results hold when we control country fixed effects, time varying common shocks, income and various additional covariates. They are also robust to alternative estimation techniques, various alternative measures of financial development and political institutions, as well as across different samples and data frequencies. We present further evidence using panel data covering the period 1870 to 1940 and 31 countries.. |
| Keywords: | Natural resources; political institutions; financial development |
| JEL: | D7 O1 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:053&r=cwa |
| By: | Kamal, Mona |
| Abstract: | This study presents the experience of the European Monetary Union (EMU) countries as an example for external coordination of fiscal and monetary policies under a fixed exchange rate regime. The Euro area is considered as a unique example since the coordination of the policies is achieved through an independent European Central Bank and the fiscal authorities of the member countries. This study reviews the coordinating arrangements and the mechanism required for the effectiveness of policy coordination. |
| Keywords: | The coordination of monetary and fiscal policies; the European Monetary Union(EMU) |
| JEL: | E0 E61 E60 |
| Date: | 2010–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:27764&r=cwa |
| By: | Sorina- Andreea PUSCASU (Academy of Economic Studies, Bucharest) |
| Abstract: | Considering that entrepreneurship is closely related to the environmental evolution and dynamism in which it take place, and depending of all its factors: economical, social, cultural, etc., this study tries to outline an overview of what the social and cultural environment, the entrepreneurial activity and the connection between these two mean. The analysis of social and cultural environment on the entrepreneurial activity highlights the importance of social and cultural factors in the entrepreneurial activity because its evolution depends from country to country, depending on the culture, values, norms and importance the respective country give to entrepreneurship. |
| Keywords: | impact, environment, entrepreneurial activity |
| JEL: | L26 |
| Date: | 2010–08 |
| URL: | http://d.repec.org/n?u=RePEc:rom:km2010:22&r=cwa |
| By: | Sai Ding; Alessandra Guariglia; John Knight |
| Abstract: | This paper attempts to address a puzzle in China’s investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level. Using a large firm-level dataset, we test three hypotheses to explain the existence and extent of negative investment in each ownership group: what we term the efficiency (or restructuring) hypothesis, the (lack of) financing hypothesis, and the (slow) growth hypothesis. Our panel data probit estimations shows that negative investment by state-owned firms can be explained mainly by inefficiency: owing to over-investment or mis-investment in the past, these firms have had to restructure and to get rid of obsolete capital in the face of increasing competition and hardening budgets. The financing explanation holds for private firms, which have had to divest in order to raise capital. However, rapid economic growth weighs against both effects in all types of firms, with a larger impact for firms in the private and foreign sectors. A tobit model, estimated to examine the determinants of the amount of negative investment, yields similar conclusions. |
| Keywords: | Negative investment; Divestment; Industrial restructuring; Financial constraints; Economic transition; China |
| JEL: | G3 O16 O53 |
| Date: | 2010–12 |
| URL: | http://d.repec.org/n?u=RePEc:gla:glaewp:2010_31&r=cwa |
| By: | David G. Blanchflower; Andrew J. Oswald |
| Abstract: | This paper describes the findings from a new, and intrinsically interdisciplinary, literature on happiness and human well-being. The paper focuses on international evidence. We report the patterns in modern data; we discuss what has been persuasively established and what has not; we suggest paths for future research. Looking ahead, our instinct is that this social-science research avenue will gradually merge with a related literature -- from the medical, epidemiological, and biological sciences -- on biomarkers and health. Nevertheless, we expect that intellectual convergence to happen slowly. |
| JEL: | I1 I3 |
| Date: | 2011–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:16668&r=cwa |