• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.19-27
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• 2022

The size of the government is one of the most fundamental debates of open economies. In any economy, government plays an important role, but a pertinent level of economic prosperity has never been obtained in history without government. Therefore, the objective of this paper investigates the association of government size, economic volatility, and institutional quality for 182 economies from the time period 1996-2016 is collected from the World Bank database. GE is defined as the General government's final consumption expenditure. Health expenditure is represented by HE. Government expenditure on education is denoted by EDUEXP. The economic volatility is measured by the rolling standard deviation of GDP per capita growth rate, Population growth, Trade openness, GINI represented Gini index which measures the degree to which the income distributed or consumption expenses among citizens deviates from a perfectly equal distribution. The results proposed that economic volatility has a significant effect on government size and institutional qualities. Moreover, the paper extends the investigation by finding the link between economic volatility with government health and education expenditure separately. The policy implication drawn from this analysis is that controlling economic volatility may reduce the size of government and also significantly affect health and education expenditures.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.665-675
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• 2020

The aim of this article is to investigate the relationship between insurance and economic growth at aggregate and disaggregate level for the period 1982-2018. Very few studies have been carried out in this field, with contradictory results and using an aggregate data while, according to different authors, an aggregate data might provide spurious results. The author used Ordinary Least Squares Regressions (OLS) and Granger Causality tests to explore the strength and direction of the relationship between insurance and economic growth at an aggregate level. To check the relationship at disaggregate level life insurance, marine insurance, and property insurance are regressed on trade openness and investment, respectively. Non-life insurance at an aggregate level plays a positive and significant role in promoting economic growth, but life insurance has an insignificant impact on the Pakistan economy. On the other hand, non-life insurances at a disaggregated level such as marine insurance negatively affect a vital part of economic growth, i.e., trade. At the same time, property insurance has a significant and positive role in boosting investment. Life, marine, and property insurance Granger cause economic growth, trade, and investment in a single direction. Nevertheless, is a bi-directional relationship between economic growth and non-life insurance.

• Asian Journal of Atmospheric Environment
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• v.12 no.1
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• pp.30-36
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• 2018

This study investigates the relationship between economic growth, energy consumption, trade openness, population density, and carbon dioxide ($CO_2$) emissions in Bangladesh for the period of 1975 to 2013. It applies the Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration for establishing the existence of a long-run relationship. The bounds tests suggest that the variables of interest are bound together in the long-run when $CO_2$ emissions is the dependent variable. The results indicate that energy consumption has statistically significant positive effect on $CO_2$ emissions both in the short-run and long-run. The effect of population density is significant in long-run, but not in short-run. The estimated coefficients for economic growth and trade liberalization are negative and insignificant both in short-run and long-run. The paper suggests that the government of Bangladesh should undertake the policy actions to develop alternative energy sources which would not emit much $CO_2$.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.665-672
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• 2021

The paper examines the impact of shadow economy and corruption, along with public expenditure, trade openness, foreign direct investment (FDI), inflation, and tax revenue on the economic growth of the BRICS countries. Data were collected from the World Bank, Transparency International, and Heritage Foundation over the 1991-2017 period. The Bayesian linear regression method is used to examine whether shadow economy, corruption and other indicators affect the economic growth of countries studied. This paper applies the normal prior suggested by Lemoine (2019) while the posterior distribution is simulated using Monte Carlo Markov Chain (MCMC) technique through the Gibbs sampling algorithm. The results indicate that public expenditure and trade openness can enhance the BRICS countries' economic growth, with the positive impact probability of 75.69% and 67.11%, respectively. Also, FDI, inflation, and tax revenue positively affect this growth, though the probability of positive effect is ambiguous, ranging from 51.13% to 56.36%. Further, the research's major finding is that shadow economy and control of corruption have a positive effect on the economic growth of the BRICS countries. Nevertheless, the posterior probabilities of these two factors are 62.23% and 65.25%, respectively. This result suggests that their positive effect probability is not high.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.173-183
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• 2020

The paper investigates the determinants of foreign direct investment (FDI) in Vietnam in 2000-2019 period. This study uses difference Generalized Methods of Moments (GMM) and Pooled Mean Group (PMG) to analyse panel data officially provided by General Statistical Office of Vietnam. The results show that market size impacts positively significant on FDI attraction: 1% -1.45% (PMG) and 1% -1.25% (GMM). Besides, some other factors have positive influences as labor force, macroeconomic policy, macroeconomic stability and skilled labor. Meantime, the trade openness negatively affects FDI inflows in the short-term, while not being statistically significant in the long-term. Moreover, economic shocks often have a negative impact on FDI inflows. The findings of this study lead to the following recommendations. First, authorities should pay special attention to encourage economic growth rate in Vietnam to expand market size because this is the first priority of foreign investors. Second, authorities need to continue increasing the rate of skilled labor, especially highly qualified management force, engineers and well-skilled workers. Third, the authorities should adjust trade openness to boost the role of its determinant in attracting FDI inflows. Fourth, macroeconomic stability needs to be governed by international standards in order to secure the belief of foreign investors in the long-term.

• Journal of the Korean Regional Science Association
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• v.10 no.1
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• pp.89-104
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• 1994

Recently, environmental issues have remained high on the agendas of public discussion and economic research. In the case of Korea, democratic movement in the late 80's centered people's concerns on the environmental dispute according to landfill, correctional institution, crematory, and nuclear powerplant, etc., Moreover, the failure to provide these kinds of facilities in time have caused serious social problems associated with environmental protection and economic development. The purposes of this paper are threefolds. First, they organize foreign and domestic NIMBYS case studies which have been settled in a desirable way. The second concern is to analyze the consciousness of NIMBYS resident by making up a questionnaire. Third, they estimate the market values of urban unwanted facilities by employing CVM(Contingent Valuation Method) procedure. The results of the study have a double implication : that NIMBYS resident are reluctant to accept government mechanical compensation based on simple published land values, and that unique concensus to preserve the viability and healthfulness of our environment among three main bodies: residents, people, government is necessary in solving NIMBYS subjects in Korea. In addition, this first implication develops to emphasize the intrduction of releveant measures taken to reconcile NIMBYS disagreement, which are complete openness of government policies, full support of local economic development, and perfect management of pollution protection systems for NIMBYS facilities.

• Environmental and Resource Economics Review
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• v.30 no.2
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• pp.299-323
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• 2021

This study investigated the impact of information and communication technology (ICT), trade openness, financial development, and economic growth on CO₂ emissions in Korea from 1990 to 2016. The cointegration relationship of the variables was confirmed by an autoregressive distributed lag (ARDL) bounds test. In the long-run, economic growth was statistically significant factor in the increase in CO₂ emissions, while other factors, as well as ICT, did not significant factors in the changes in CO₂ emissions. In the long-run, a link between economic growth and CO₂ emissions has been confirmed, but other factors, including ICT, have not been able to confirm the link between CO₂ emissions in the long-run. Meanwhile, in the short-run, economic growth and ICT increased CO₂ emissions, and financial development led to a decrease in CO₂ emissions. Trade openness did not have a significant effect on CO₂ emissions in the short-run as in the long-run. In particular, ICT did not contribute to the reduction of CO₂ emissions in the short-run as well as the long-run. In order to induce CO₂ mitigation through ICT, the development and deployment of technology that efficiently save energy by using ICT should be further promoted.

• Journal of Fisheries and Marine Sciences Education
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• v.29 no.3
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• pp.899-908
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• 2017

The purpose of this study is to identify challenges related to social, economic and environmental change for fishing villages and suggest the developmental direction of fishing village to actively respond to new changes. This study mainly focuses on fishing village fraternities. Its current problems are summarized as follows: shortage of labor, population aging, entry barrier against newcomers, insufficient guidance and supervision functions, lack of funds of new projects and inadequate statistics and data. The fishing village community in the modern meaning of the term can be understood as an economic and flexible social-cultural community based on openness, cooperation instead of exclusiveness and closeness, which aligns fisheries with local industries. Thus, in order for the fishing village community to improve, the followings areas required. First, strengthening capacity of the fishing village community. Second, establishing the database system and the third, reorganizing the fishing village community into a sea village community.

• Journal of Agricultural Extension & Community Development
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• v.15 no.4
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• pp.577-597
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• 2008

The purpose of this study is to examine the effects of residents' perceptions of tourism impact and conflicts on residents' participation in rural tourism village. Method of analysis involves factor analysis and regression analysis in this study. In order to measure the level of perception, three factors(economic benefits, social benefits, social and environmental cost) are derived from the factor analysis. And also in order to measure the level of conflict, two factor(openness of information, leading of operation) are derive from the factor analysis. The result of regression analysis indicate that perceived economic benefits and social benefits are rather greater impacts on residents' participation than social and environmental cost, and also openness of information is rather greater impacts on residents' participation than leading of operation.

• International Journal of Computer Science & Network Security
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• v.21 no.3
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• pp.198-205
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• 2021

For twenty years, in the EU there has been a trend of a lack of maritime infrastructure and a redundance of the road one, which has a negative impact on the economy. The intermodal transport market structure in the EU has not changed over the past ten years. The stability of transport systems due to the lack of changes in the transport market remains under threat, affecting supply chains and networks through the optimization of warehousing and transportation costs. The research methodology is based on a quantitative assessment of cause-and-effect relations between economic growth and transport and logistics in the EU. A statistical analysis of security indicators, intermodal and modal transport, international trade in goods within the EU and in the world trade in goods, the dynamics of GDP of the EU countries, the level of openness of the EU economy, investment and maintenance costs of different modes of transport and infrastructure has been carried out. The results show that in 2000- 2010 there were positive changes in the transport and logistics infrastructure of the EU, which had a positive effect on trade, openness of the economy of the EU, GDP growth. However, at that time, negative effects of environmental impact and the load on road and rail transport were accumulating. Investment in different modes of transport is limited, and technical maintenance and infrastructure maintenance costs form a significant part of GDP of the EU. A slowdown in economic growth leads to budget constraints and infrastructure financing gap. As a result, the freight and passenger intermodal and modal transport market structure remains virtually unchanged. The load on rail and road transport remains stable, despite the reduced level of transport hazards. Transport productivity has declined over the past ten years. Herewith, the intensification of trade and the openness of the EU economies require constant modernization and innovative renewal. The EU policy in this direction remains normative, uncontrolled, which is reflected in investment differences within the EU and maintenance costs.