Options for the Pakistan Navy
In: Naval War College review, Band 63, Heft 3, S. 85-103
ISSN: 0028-1484
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In: Naval War College review, Band 63, Heft 3, S. 85-103
ISSN: 0028-1484
This study investigated the causal linkage between environmental pollution by carbon dioxide (CO2) emissions and net foreign direct investment (FDI), along with some other variables, namely economic growth by real per capita income and trade openness, using balanced annual data of 17 countries from Asia for the period from 1980 to 2014. Panel cointegration tests confirm the long-run association among the variables. After checking the panel data for stationarity properties, the method panel fully modified ordinary least squares (FMOLS) is implemented. The FMOLS estimates on CO2 emission model reveal that inward FDI has a significantly positive impact on environmental pollution, supporting the pollution haven hypothesis (PHH). Likewise, FDI model results imply that CO2 emissions represent environmental pollution; economic growth and trade openness are the pivotal determinants of FDI. Panel causality results suggest bidirectional linkages between CO2 emissions and inward FDI. Empirical findings suggest that economic policy reforms are required to channelise foreign capital inflows to a more environmentally healthy direction. The governments of Asian countries should chalk out policies on FDI inflows and the environment in order to achieve sustainable economic growth and development.
BASE
In: Environmental science and pollution research: ESPR, Band 27, Heft 7, S. 7244-7255
ISSN: 1614-7499
In: Regional studies: quarterly journal of the Institute of Regional Studies, Islamabad, Band 34, Heft 1, S. 26-47
ISSN: 0254-7988
World Affairs Online
In: Regional studies: quarterly journal of the Institute of Regional Studies, Islamabad, Band 36, Heft 4, S. 31-66
ISSN: 0254-7988
World Affairs Online
The paper contributes to the current literature by investigating the effects of economic growth, income inequality, and financial development on poverty for fifteen (15) developing countries. Panel data over the period from 2002 to 2018 has been used. Pooled Mean Group (PMG) technique has been applied for estimating the results. The study employs panel unit root tests namely: LLC and IPS for checking the unit root in the data. The long results show that all variables turned significant in the model. The income inequality shows positive relationship with poverty. Financial development and economic growth reveal adverse impact on poverty. Government spending and employment (increase in labor force participation) impact on poverty are negative. Furthermore, trade openness and inflation coefficients turned significant however, its sign are not according to the theory. Moreover, in the short run income inequality and economic growth show no impact on poverty. Financial development relationship with the poverty is still positive. Inflation revealed positive relationship with poverty. Trade openness show positive relationship with poverty. And other two variables government spending and labor force participation rate coefficients remained insignificant. The error correction coefficient i.e. speed of adjustment parameter is - 0.089. On the basis of the findings it is suggest that effective policies for boosting up economic growth, advancement of financial sector and reducing income inequality can significantly contribute towards the poverty reduction in the developing countries. It is suggested that the government shall formulate appropriate policies for the development of financial sector, boosting up economic growth and reduction of income inequality which will contribute to the reduction in poverty of the selected countries.
BASE
In: Journal of financial economic policy, Band 15, Heft 3, S. 226-247
ISSN: 1757-6393
PurposeThis study aims to explore the impact of monetary policy on bank lending rate with the moderating effects of financial sector development for eight Asian developing economics.Design/methodology/approachThis study uses panel autoregressive distributed lag/pooled mean group estimation over the period ranging from 1980 to 2020.FindingsThe empirical results exhibit an inverse link between monetary policy measured by broad money supply on the bank lending rate, indicating that the increase in the money supply by the central bank lowers the demand for loans and thereby lowers the cost of loan. Moreover, financial sector development decreases the lending rate and thus lowers cost of loan. It is also noted that the interactive term of monetary policy by lending broad money supply and financial sector development showed a positive impact on the lending rate in selected Asian developing countries during the period under the study.Practical implicationsThe outcomes have many relevant policy implications that stronger financial development sector contributes to the efficiency of monetary policy. Regulators and policymakers are therefore recommended to pursue greater financial sector development to lower the cost for fund searchers and to lower the cost of loans, money supply increase is suggested.Originality/valueThis study contributes to the extant literature on the factors affecting lending rate with the prime aims of monetary policy effectiveness. This study also included financial sector development with some other variables and an interactive term of monetary policy with financial development to have new insight impact of both on the lending rate in developing Asian economies.