• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.705-714
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• 2020

This study aims to investigate the main factors that affected the government health expenditures in Gulf Cooperation Council (GCC) countries (Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), Oman, Qatar, Bahrain and Kuwait), during the period from 2005 to 2019. The study employs a panel data technique in order to monitor the pooled determinant variables of healthcare expenditures in these countries. The study's results indicate, by using FMOLS approach for panel data, that the average healthcare expenditures per capita in GCC countries have a positive and a significant relationship with the government revenues, the size of the population, and the governments' public debt. The positive and the significant relationships of governments' public debt may be explained even if the governments of the GCC countries suffer from a budget deficit; the GCC countries continue to increase the healthcare expenditure. The study suggests that the policymakers of the GCC countries must take into consideration those variables when they develop their healthcare policies. Also, the GCC countries urgently need to have high levels of foreign exchange reserves to maintain the expected level of spending on the healthcare sector, because their public revenues depend mainly on the oil revenues, which are fluctuating continuously.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.69-81
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• 2021

The aim of this paper is to identify the key determinants in the Gulf Cooperation Council (GCC) countries for Foreign Direct Investment (FDI) inflows by using a balanced data panel for the period from 1995 to 2018. This study covers GCC countries in their entirety. The study uses ten explanatory variables, namely, trade ratio, gross domestic product, external balance, fuel exports, gross savings, international tourism, military expenditure, net foreign assets, services value added, and total natural resources. The authors have tried to find the best fit model from the differences methods considered such as OLS, GLS regression with the help of Hausman test, and country by country regressions as additional analysis. The study revealed a significantly positive association between inflation, trade ratio, gross domestic product, gross savings, and net foreign assets with FDI. On the contrary, international tourism was revealed to have a negative association with FDI. The sample of all GCC countries chosen for this study has not been considered widely by any earlier study. Moreover, this study covered many determinants of FDI that add to the previous literature. It is a significant contribution to the current research body and stresses the originality of this paper.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.11-19
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• 2021

The study aims to investigate the impact of seasonality in Gulf Cooperation Council (GCC) countries' share market during the month of Ramadan. It helps in finding the opportunities for stock market investors to earn abnormal (returns) gain by investing during Ramadan in GCC stock markets. This study uses stock returns data of GCC countries (Saudi Arabia, Bahrain, Qatar, Kuwait, Dubai, and UAE) from January 2004 to November 2019. Stock prices indexes of GCC stock markets have been obtained from Datastream. The ARCH-GARCH model is used to study the impact of the Ramadan month on the return and volatility of the stock market in GCC countries. The results showed that the Ramadan month has a significant impact on share market prices in Saudi Arabia and the United Arab Emirates. However, Ramadan has an insignificant impact on share market prices in Bahrain and Oman. The study found no evidence of serial correlational between residuals in Kuwait; meaning that stock return was not dependent on the prior stock returns in Kuwait, therefore, we cannot go for forecasting. The ARCH-LM test statistic for Qatar does not fulfill the requirement of a good regression model; therefore, we cannot go for forecasting or testing the hypothesis of Qatar.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.387-399
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• 2021

This study mainly aims to examine the effect of intangible assets on the value relevance of the Gulf Cooperation Council (GCC)-listed non-financial firms. This study tested three types of models by using a large sample of non-financial firms listed in GCC countries as emerging markets from 2008 to 2016. The types of models are accounting information (earnings per share and book value of share) without intangible assets model, intangible assets model, and accounting information (earnings per share and book value of share) with intangible assets model. Ordinary least square (OLS) shows mixed results as intangible assets improve the value relevance of accounting information positively in UAE and negatively in Kuwait but not in other countries. The study documents a robust positive relationship between intangible assets and earnings quality in terms of value relevance in KSA and Qatar. The findings provide implications for policymakers, investors, and managers. The results suggest that intangible assets can improve the value relevance in emerging markets, such as GCC, as the need to organize the requirements of information disclosures on intangible assets and provide great transparency and additional disclosure of information about intangible assets and their components.

• The Journal of Asian Finance, Economics and Business
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• 제9권8호
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• pp.183-196
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• 2022

Bank stability serves as a prerequisite for the smooth functioning of economic and financial activities in the country. Banks face numerous risks, and liquidity plays an essential role in determining a bank's long-term growth and financial stability. By using the sample of 70 banks of the Gulf Cooperation Council, this study examines the association between funding the liquidity and the creation of liquidity and their impact on bank stability. Firstly, the reciprocal relationship reveals between funding the liquidity and the creation of liquidity by employing the 2SLS regression model. Further, by employing the dynamic GMM model, the research finds that funding liquidity is significant and positively influences bank stability. However, bank stability is significantly negatively influenced by the creation of liquidity, but the combined effect of funding the liquidity and creation of liquidity positively explains the bank stability. Additionally, this study reveals that managerial optimism biases contribute to determining the bank's liquidity and long-term stability. The finding of this study supports the executives, policymakers, and management of banks in understating liquidity risks, efficiency, and bank stability. The findings support regulatory guidelines mainly by the Basel III framework, which places more importance on the joint management of funding the liquidity and creation of liquidity in the economy.

• The Journal of Asian Finance, Economics and Business
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• 제8권9호
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• pp.11-22
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• 2021

This study investigates the long-run relationship between the de jure economic, political, and social globalization and foreign direct investments in the Gulf Cooperation Council (GCC) to establish whether policies that foster trade and investment relations among geographical entities can help revive the GCC countries from the prevailing economic debacles of the COVID-19 pandemic. This study is driven by the GCC's quest to fully overcome the economic challenges occasioned by the outbreak of the global pandemic and position itself as the most potent regional economic bloc in the Middle East and North Africa (MENA) region. The study employs the panel data of the six GCC countries of Bahrain, United Arab Emirates, Kuwait, Qatar, Oman, and Saudi Arabia from 1971 to 2017. The findings of the panel fully modified ordinary least square regression estimation show that the de jure economic and social globalization have a significant positive impact on the region's foreign direct investment inflows. The impact of the de jure political globalization on foreign direct investment is statistically significant but negatively signed. Based on the preceding findings, we offer some holistic policy recommendations to the GCC region as recipes for timely recovery from the economic impact of COVID-19 and beyond.

• International Journal of Computer Science & Network Security
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• 제24권9호
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• pp.202-206
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• 2024

Robust system may not guaranty its applicability and adaptability. That is why research and development go together in the modern research concept. In this paper we are going to examine the applicability and adaptability of gait-based biometric identity verification system especially in the GCC (Gulf Cooperation Council). The system itself closely involved with human interaction where privacy and personality are in concern. As of 1^st phase of our research we will establish gait-based identity verification system and then we will explain them in and out of human interaction with the system. With involved interaction we will conduct an extensive survey to find out both applicability and adoptability of the system. To conduct our experiment, we will use UCMG databased [1] which is readily available for the research community with more than three thousand video sequences in different viewpoint collected in various walking pattern and clothing. For the survey we will prepare questioners which will cover approach of data collection, potential traits to collect and possible consequences. For analyzing gait biometric trait, we will apply multivariate statistical classifier through well-known machine learning algorithms in a ready platform. Similarly, for the survey data analysis we will use similar approach to co-relate the user view point for such system. It will also help us to find the perception of the user for the system.

• 한국건설관리학회논문집
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• 제11권5호
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• pp.3-14
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• 2010

본 연구는 EPC LSTK 프로젝트의 계획단계에서 계약자가 수행하는 타당성 분석사례들을 조사 및 분석하고, 이에 대한 문제점 및 개선방안 제시를 위하여 수행되었다. 이를 위하여 GCC 국가를 대상으로 한 5개의 타당성분석에 대한 사례를 조사하고 이를 분석하였다. 상기와 같은 목적과 방법에 따라 진행된 본 연구의 결과를 요약하면 다음과 같다. 1) 타당성 분석시 고려변수 등에 대한 영향요인 분석 미흡으로 원가상승, 공기지연 초래 및 품질저하의 문제점이 존재하는 것으로 분석되었다. 2) 상기의 문제점을 바탕으로 원가상승에 대한 문제, 공기지연에 대한 문제, 품질저하의 문제에 대해 타당성 분석 차원의 개선방안을 제시하였다. 3) 해외 플랜트 공사에 있어 상기에서 분석한 문제점 및 개선방안을 준용할 수 있는 사업 타당성 분석 프로세스를 단계 별로 제시하였다.

• 국제지역연구
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• 제20권1호
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• pp.23-51
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• 2016

한-GCC FTA 체결은 안정적인 에너지 자원의 확보에서 뿐만 아니라 향후 대규모 소비시장으로서 GCC의 성장 잠재성과 한국과의 보완적인 산업 구조를 고려해 볼 때 그 중요성이 크다. 최근 한-GCC FTA의 필요성이 제기되고 있는 시점에서 한-GCC FTA의 경제적 기대 효과에 대하여 분석하고 FTA의 조속한 체결의 필요성을 제시하고자 하였다. 한-GCC FTA의 경제적 효과를 알아보기 위하여, 본 연구에서는 원유관세 인하를 통한 경제적 효과를 분석하기 위하여 벡터자기회귀모형(VAR: Vector Autoregression Model)을 이용하였다. 추정 결과, GDP는 총 0.212%, GNI는 0.389%, 소비는 0.238% 증가한다. 반면 투자, 수출, 수입은 각각 0.462%, 0.413%, 0.342% 감소하는 것으로 나타났다. 물가수준의 경우 생산자물가상승률은 6.356%p, 소비자물가상승률은 2.996%p 감소하는 것으로 나타났다. 즉, GCC와의 FTA를 통한 원유수입관세의 철폐 및 이로 인한 원유수입가격의 하락은 물가의 하락을 가져오는 동시에 GDP, GNI, 소비 등의 거시경제지표의 증가를 통해 우리나라 경제성장에 긍정적인 영향을 미침을 알 수 있다.

• 국제지역연구
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• 제22권2호
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• pp.19-40
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• 2018

본 연구의 목적은 중력모형을 이용하여 걸프협력회의(GCC) 6개국 수출의 결정요인이무엇인가를 정량적으로 분석하는 것이다. 중력모형을 이용하여 GCC 회원국인 쿠웨이트, 사우디아라비아, 바레인, 카타르, 연합아랍에머리트 및 오만의 55개 주요 무역국과의 수출 결정요인을 분석하였다. 본 연구의 주요 분석 결과는 다음과 같다. 수출국의 GDP와 수입국의 GDP의 곱이 카타르를 제외한 GCC 5개국의 수출에 통계적으로 유의한 수준의 긍정적 영향을 준 것으로 분석되었다. 거리는 아랍에메리에트(UAE), 사우디아라이바 및 오만에 부정적인 영향을 준 것으로 분석된 반면에, 바레인과 카타르의 수출에는 긍정적인 영향을 준 것으로 분석되었다. 수출국의 1인당 GDP는 바레인, UAE와 오만의 수출에는 통계적으로 유의한 수준의 긍정적인 영향을 준 것으로 분석되었지만, 사우디아라비아의 수출에는 부정적인 영향을 준 것으로 분석되었다. 수출국의 인구는 GCC 6개국 모든 나라의 수출에 긍정적인 영향을 준 것으로 분석되었다. 이와 대조적으로 수입국의 인구는 쿠웨이트, 바레인과 카타르의 수출에는 긍정적인 영향을 주었지만 사우디아라비아의 수출에는 부정적인 영향을 준 것으로 분석되었다. 국경은 GCC 회원국 중 어느 나라의 수출에도 유의한 영향을 주지 못한 것으로 분석되었다. 공동언어의 경우 쿠웨이트, 사우디아라비아, 바레인 및 오만의 수출에 긍정적인 영향을 준 것으로 분석되었다. 자유무역협정(FTA)는 바레인의 수출에만 긍정적인 영향을 준 것으로 분석되었으며, 카타르와 오만의 수출에는 부정적인 영향을 준 것으로 분석되었다. GCC회원국자격은 쿠웨이트, 바레인 및 카타르의 수출에는 긍정적인 영향을 주었지만 사우디아라비아의 수출에는 부정적인 영향을 준 것으로 분석되었다.