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This study examines the relationship between democracy and foreign direct investment (FDI) in 40 African nations using a two-step generalized method of moments (GMM) analysis. It explores five varieties of democracy and fifteen democratic traits. The findings reveal that egalitarian and deliberative democracies significantly attract FDI, with deliberative democracy having a particularly strong effect. Unlike egalitarian and deliberative democracies, participative democracy has a reducing impact on FDI. Similarly, nine democratic traits were found to significantly attract FDI. Economic factors like per capita GDP and natural resource rents showed mixed effects on FDI inflows, suggesting that the quality of democratic governance is crucial. Policy implications include strengthening democratic institutions, improving legal frameworks, ensuring fair elections, and enhancing government accountability to create a favorable investment climate. Policymakers are encouraged to focus on these areas to boost FDI and promote economic growth and development across the continent. [ABSTRACT FROM AUTHOR]

This study explores the effect of financialisation on labour investment for emerging Asian economies. Focusing on firms operating in non-financial sectors, this study explores the financialisation–labour investment relationship for Hong Kong, South Korea, Taiwan, Indonesia, Malaysia, and India during the period from 1999 to 2023. This study employs a panel regression methodology to explore the link between financialisation and labour investment. The findings indicate that financialisation can exert a negative influence on the labour investment of manufacturing firms in these emerging Asian economies. The findings of the study are also not sensitive to different robustness checks. This paper sheds new lights on the effects of financialisation on labour investment within emerging economies. [ABSTRACT FROM AUTHOR]

This study explores the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) in listed Korean companies over ten years. The results show a significant positive effect of CSR on CFP in the manufacturing sector, but no notable impact in the non-manufacturing sector. A detailed analysis identifies social contribution as the key driver of this positive effect, while the other CSR sub-categories play a minor role. Higher ownership by majority shareholders and treasury stock is associated with lower CSR. This research enhances understanding of the CSR-CFP link in Korea, offering valuable insights for insiders and investors in decision-making. [ABSTRACT FROM AUTHOR]

The increasing concerns about climate change demand a more profound understanding of the elements influencing carbon dioxide (CO2) emissions, particularly in nations with high carbon footprints. This study embarks on a quantitative exploration of how renewable energy consumption, economic growth, and environmental technologies impact CO2 emissions across eight nations with the highest carbon emission levels. Leveraging annual data from the period 1990–2019, we undertake a meticulous empirical analysis to unearth the factors shaping the environmental quality in these countries. Our findings reveal that per capita income and environmental technologies wield a significant influence on CO2 emission levels. Delving further into causality relationships, we discern a fascinating bidirectional causal link between CO2 emissions and renewable energy consumption. In parallel, a similar bidirectional causality is spotted between renewable energy consumption and environmental technology. From CO2 emissions to environmental technology and GDP per capita to CO2 emissions and environmental technology, unidirectional causal links are also perceived. In light of these compelling results, we propose several policy recommendations aimed at promoting sustainability and fostering a healthier environmental future. Our research underscores the potential of renewable energy consumption and environmental technologies in mitigating carbon emissions and spurring a greener economy. [ABSTRACT FROM AUTHOR]

Summary: We discuss methods of measuring the treatment effects of a unit through the use of other units in panel data by either the factor‐based (FB) approach or the linear projection (LP) approach under different sample configurations of cross‐sectional dimension N and time series dimension T. We show that the LP approach in general yields smaller mean square prediction error than the FB approach when either both N and T are large or N fixed and T→∞ or T fixed and N large. The Monte Carlo simulation and empirical example are also conducted to consider their finite sample performances. [ABSTRACT FROM AUTHOR]

The circular economy is a tangible paradigm in response to the unsustainable model of production and consumption of resources in the agri-food system. The circular economy allows for a reduction in the environmental impact through the minimization of food waste or the maximal generation of renewable energy from waste. Despite the relevance, in the extant literature, there are scant indications on how to apply circular business models in agri-food systems. Hence, the paper aims to analyze the circular economy implementation level in the agri-food system in 29 European countries, focusing on specific circular economy strategies. Selected indicators were analyzed to evaluate the level of circular economy implementation in the agri-food system (e.g., production values, energy sharing from renewable sources, and total waste emission) using a Panel data analysis method. The required variables were gained from the global databases within the recent five years (2014–2018). The results reveal an overall lack of circular economy implementation in the agri-food systems among European countries. A set of 12 managerial propositions was suggested to foster the implementation of the circular business models by interacting the recycling, extending, intensifying, and dematerializing strategies with aspects of the production process, waste emission, and renewable energy sharing in the agri-food system. [ABSTRACT FROM AUTHOR]

The present research focuses on the endogenous development theory and investigates the relationships between economic growth (dependent variable) and renewable energy consumption, technological innovation, and export diversification (independent variables) in seven emerging economies known as the E-7. Previous studies have examined these factors individually but have not explored their combined impact on the E-7 economies. Therefore, this study contributes to the existing literature on the effects of renewable energy consumption, technological advancement, and export diversification on economic development. This study analyses the dynamic connections among these variables in seven selected emerging countries: Brazil, China, Indonesia, India, Mexico, Russia, and Turkey. Panel data from 1990 to 2022 are utilised, and various methodologies, including panel cointegration, the pooled mean group–autoregressive distributed lag (PMG-ARDL) estimator, and robustness tests, such as the fully modified ordinary least square and dynamic ordinary least square tests, are employed. Empirical inferences are drawn using the Dumitrescu–Hurlin panel causality (DHC) test, and the long-run relationships among the variables are validated using the Westerlund residual cointegration tests. The results from the PMG-ARDL estimator show that renewable energy consumption, technological advancement, and export diversification have a significant and positive impact on economic expansion, confirming the validity of the endogenous growth model in the E-7 countries. The control variable of the financial sector has a positive but insignificant effect on economic growth, while trade openness has a negative and significant effect. The DHC test results indicate a neutral feedback effect of renewable energy consumption on economic growth. The findings also reveal a unidirectional causal relationship between technological innovation and economic growth. Overall, these findings provide valuable insights for economic policymakers in the E-7 countries. By removing barriers to renewable energy consumption, technological innovation, and export diversification, policymakers can promote sustainable economic development. [ABSTRACT FROM AUTHOR]

Droughts significantly affect India's agricultural sector and overall economic growth in dry, arid, and semi-arid regions. Around 50% of crop areas depend on the south-west monsoon, making them vulnerable to deficient rainfall. Droughts redirect financial resources to relief efforts, impacting other sectors negatively. This study examines the relationship between droughts, relief finances, economic growth, and agricultural sector growth across 28 Indian states from 1991–92 to 2015–16. Findings show that droughts reduce state agricultural gross domestic product growth by approximately 1.53%, 17.67%, and 13.93% across all states, least irrigated states, and moderately irrigated states, respectively. The impact on overall economic growth is influenced by the availability of infrastructure, such as irrigation and is negatively but not significantly affected, as drought effects are localized. However, postdrought relief finances have a significant positive impact on moderately and least irrigated states, underscoring the need for appropriate drought risk management policies in these areas. Practical Applications: This study critically examines the repercussions of droughts on India's agricultural sector and overall economy across 28 states from 1991–92 to 2015–16. The findings underscore a substantial reduction in state agricultural gross domestic product (SAGDP) growth due to the adverse effects of droughts. The impacts vary across states, with differing degrees of severity observed. Importantly, the study sheds light on the localized nature of overall economic growth effects, contingent upon the presence and efficiency of irrigation infrastructure. Droughts necessitate the redirection of financial resources to relief efforts, consequently impacting sectors beyond agriculture. However, a noteworthy positive trend emerges postdrought, where relief finances showcase a significant impact, particularly in states with limited irrigation facilities. Practitioners and policymakers are strongly urged to prioritize targeted interventions and resource allocation, especially in regions lacking robust irrigation infrastructure. The research underscores the critical importance of proactive drought risk management policies, emphasizing the positive role that relief finances play in mitigating the economic consequences of droughts. Implementation of these practical insights holds the potential to fortify India's resilience to droughts, safeguarding both the agricultural sector and overall economic stability, thereby contributing to sustainable and adaptive policy frameworks for the nation's prosperity. [ABSTRACT FROM AUTHOR]

We analyze the role of international reserves and sovereign debt in the determination and international transmission of interest rates. We develop a model that describes the money market equilibrium with capital account openness. It predicts that higher levels of international reserves lead to lower interest rates whereas the effect of higher government debt is ambiguous. We then test empirically these predictions on a panel of 128 countries over 1985–2019. We find that: (i) the transmission of U.S. interest rates to domestic interest rates is stronger in emerging market economies (EMEs) than in advanced economies (AEs) for short‐term interest rates (STIR), and vice versa for long‐term interest rates (LTIR); (ii) international reserves help counteract the transmission of the U.S. policy rate on STIR in EMEs; (iii) a higher sovereign debt level is associated with lower interest rates in EMEs (liquidity effect), but higher interest rates in developing economies (risk premium effect). [ABSTRACT FROM AUTHOR]

Culture and tourism are crucial for economic growth and sustainable development, working together symbiotically. Culture boosts tourism by supporting heritage, production, and creativity, while cultural heritage, reflecting national identity and traditions, strengthens local economies. This study uses a panel data analysis to examine the impact of cultural factors on international tourist arrivals in 27 EU nations. The Driscoll–Kraay method reveals that UNESCO World Heritage Sites, government cultural expenditures, household recreation and cultural expenditures, real GDP per job, and bed capacity positively influence international tourist numbers. Regarding cultural factors, World Heritage Sites have the most significant influence, with each additional UNESCO site leading to a 0.22% rise in tourist numbers. The most crucial determinant of tourist arrivals is bed capacity, with a one percent increase leading to a 0.66% increase in tourist arrivals. Conversely, healthcare expenditures and political civil liberties have a negative impact on tourist arrivals. This study discusses managerial implications and offers recommendations for future research. [ABSTRACT FROM AUTHOR]

Copyright of Verimlilik Dergisi is the property of Verimlilik Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Verimlilik Dergisi is the property of Verimlilik Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Globally, there is a growing momentum toward achieving universal access to clean energy, particularly electricity, as it plays a crucial role in improving the overall quality of life. Addressing the challenge of universal electricity access requires the development of various mechanisms that enable individuals to access electricity at affordable rates while having the freedom to choose their service providers. In many countries, governments are actively involved in enhancing electricity access, but this effort can put strain on state finances, leading to increased fiscal deficits. This paper aims to investigate the relationship between power expenditure and state finances in Jammu and Kashmir, India, in light of the push for improved electricity access. Using data from the RBI Bulletins for the period 1990–91 to 2019–20, the paper employs panel data analysis to investigate the relationship between power expenditure and gross fiscal deficit. Results indicate a positive and significant correlation between expenditure on power and state gross fiscal deficit in Jammu and Kashmir, indicating lower fiscal sustainability with higher power expenditure. For the purpose of reducing the pressure on state finances caused by enormous domestic power subsidies, the study recommended targeted subsidies with a focus on small energy projects utilizing renewable energy sources and energy-saving technologies, as well as incentives and regulations to promote energy conservation. [ABSTRACT FROM AUTHOR]

Copyright of Retos, Revista de Ciencias Administrativas y Económicas is the property of Universidad Politecnica Salesiana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Finance Letters / Maliye Finans Yazıları Dergisi is the property of Maliye Finans Yazilari Yayimcilik Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Gazi Journal of Economics & Business is the property of Gazi Journal of Economics & Business and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The share price is one of the major aspects of taking financial decisions by the investors. This study has investigated the impact of value relevance on the share price of Indian multinational companies. In this study, the top 10 multinational corporations (MNCs) have been taken for the analysis of data from the financial year 2018–2019 to 2022–2023. However, share price has been considered a dependent variable, whereas earnings per share (EPS), book value per share (BVPS), price to book value (PB), price to earnings (PE) and assets turnover ratio (ATR) have been considered independent variables. By employing correlation, ordinary least squares (OLS), fixed effect model (FEM), random effect model (REM), Hausman test and the Jarque–Bera test, data have been analysed and significant associations among the given variables have been found. The outcome of the study has revealed that there is a significant impact of value relevance on the share price of the MNCs in India, as the p value derived from the analysis is less than.05. This means that a statistically significant relationship exists between the variables considered in the study. JEL Codes: G10, M41, Y10 [ABSTRACT FROM AUTHOR]

Logistics have played a crucial role in fulfilling economic development. BRICS countries is expected to take over 38% of the world's GDP after adding new members in 2024. This empirical study examines the impact of the logistics sector on economic growth across all 10 BRICS countries. The analysis utilizes panel data and relies on the World Bank Logistics Performance Index scores. Findings indicate that overall LPI is negative insignificant determinant for economic growth in BRICS countries during the years. The Random Effects model exhibits consistency, efficiency and significance. This may be attributed to the wide differences of LPI overall scores and Trade Across Borders (TAB) scores in BRICS countries. Results also reveal that Gross fixed capital formation, as a proxy for infrastructure investment, is the main statistically significant variable affecting GDP per capita in BRICS countries. Additionally, the main two significant variables among individual LPI are, the regularity with which shipments reach the recipient within the specified or anticipated timeframe, along with the capability to monitor and trace these consignments. Wide opportunities exist to share knowledge and exchange experiences in developing logistic sector among BRICS countries.

Amaç: Geleneksel maliyet davranışında yer alan, faaliyet seviyesindeki artış ve azalışlara maliyetlerin farklı bir şekilde (sabit-değişken) tepki vermesi görüşüne alternatif olarak geliştirilen ve maliyet yapışkanlığı olarak adlandırılan karşı görüş, maliyetlerin faaliyet hacmi ile ilişkisinin asimetrik bir şekilde hareket ettiğini savunmaktadır. Bu kapsamda, maliyetlerde faaliyet hacmine bağlı olarak meydana gelen artışlar ile azalışın aynı oranda gerçekleşmediğinin yani maliyet yapışkanlığının varlığının belirlenmesi çalışmanın amacını oluşturmuştur. Yöntem: Maliyet yapışkanlığının varlığı panel veri analizi ile incelenerek, 336 gözlem sayısı kullanılarak, kurulan 4 farklı model (satışlar ile satışların maliyeti, araştırma ve geliştirme giderleri, pazarlama, satış ve dağıtım giderleri ve genel yönetim giderleri) ile tespit edilmeye çalışılmıştır.Bulgular: Yapılan analizler sonucunda, dört modelin tamamında maliyet yapışkanlığı tespit edilerek, satışlarda artış azalışın olduğu dönemlerde, satışların maliyetinin doğrusal olarak etkilenmediği yani asimetrik bir şekilde hareket ettiği tespit edilmiştir. Özgünlük: Maliyet yapışkanlığının belirlenmesi, şirketlerin verimlilik ve kâr düzeylerini artırdığından bu çalışmada, Türkiye’de BİST30 endeksinde yer alan şirketler içerisinde 2007-2022 yılları arasında kesintisiz işlem gören ve verilerinin tamamına ulaşılabilen 21 şirket analize tabi edilmiş ve ulaşılan gözlem sayısında gerek farklı şirketler gerekse farklı yıllar esas alındığından bu alandaki literatüre katkı sağlayacaktır.

Purpose: This study aims to investigate the effects of technological innovation and scientific research on economic growth in European Union (EU) countries. It emphasizes the importance of prioritizing these factors for sustainable development and global competitiveness.Methodology: The research, conducted using panel data analysis and the System GMM method, examines the relationship between R&D expenditures and per capita Gross Domestic Product (GDP).Findings: Existing research indicates that innovation and research positively affect economic performance. Technological innovation supports economic expansion by enabling the creation of new products and improving production methods, while scientific research also makes a significant contribution to economic growth. The study confirms a positive relationship between R&D expenditures and GDP per capita, indicating economic growth.Originality: In contrast to existing literature, the results are analyzed comparatively on EU countries using methods such as Prais-Winsten and System GMM. Additionally, the discussion conducted on the group of EU member states addresses the concepts of sustainable development and global competitiveness.

Ekonomi biliminin son elli yıldır önemi artan ve tartışılan konularından biri ekonomik büyümedir. Zaman ile üretilen ürün miktarının artmasına ekonomik büyüme denir. Ekonomik gelişmeden ya da büyümeden bahsedebilmemiz için üretimde devamlı bir artış meydana gelmesi gerekir. Yoksa ülkede ekonomik durgunluk veya gerileme söz konusu olacaktır. Bu çalışmada, ekonomik büyümenin kaynakları, 1990-2021 ve 1996-2020 yıllarını kapsayan seçilmiş OECD ülkeleri veri seti kullanarak panel veri yöntemi ile analiz edilmiştir. Çalışmada, modeldeki tüm verilere sahip olan yirmi sekiz OECD ülkesi örneklem olarak belirlenmiştir. Bu bağlamda kullanılan değişkenler olarak, kişi başına düşen gelir artış oranı (bağımlı değişken), nüfus, teknolojik gelişim (Ar-Ge harcamaları), eğitim (okullaşma oranı), sağlık (bebek ölüm oranı), enflasyon, doğrudan yabancı yatırımlar ve ticari açıklık verilerine panel analizi uygulanmıştır. Doğrudan yabancı yatırımlar, okullaşma oranı, ticari açıklık, nüfus ve Ar-Ge değişkenleri ekonomik büyümeyi olumlu etkilerken, bebek ölüm oranı ve enflasyon oranı olumsuz yönde etkilediği sonucuna ulaşılmıştır.

This study analyzes the impact of military expenditures on sustainable development in NATO countries. The analysis utilizes annual data for the period between 1995 and 2019. In this study, the Durbin-Hausman panel cointegration test is used to analyze the cointegration relationship between the variables and the Panel AMG estimator is used to estimate the long-run coefficients. The results of the AMG estimator show that military expenditures and industrial production index have a negative effect on sustainable development in NATO countries, while foreign direct investments have a positive effect. The impact of primary energy consumption is negative and less significant than the other negative impacts. The study also analyzes how the impact of military expenditures on sustainable development varies across countries. This analysis reveals the significant differences in the direction, significance, and coefficient size of the relationship among different countries. These findings suggest that the impact of military expenditures on sustainable development varies across countries. Therefore, countries should develop policies to ensure sustainable development by considering their specific dynamics.

Banking and risk are synonymous concepts. The risk concepts for both conventional and Islamic banks are broadly similar, and liquidity risk is among the most important risks that all banks are exposed to. The management process of liquidity risk, which arises when banks do not have enough assets to meet their liabilities at maturity, may differ in conventional and Islamic banks. This study aims to present a comparative analysis of the liquidity determinants of conventional and Islamic banks operating in Turkey. Using the data of 3 Islamic and 17 conventional banks for the period between 2011Q1-2022Q2, the analysis, which also aims to see the short and long-term effects, concludes that the determinants of liquidity risk for conventional and Islamic banks are largely similar. However, the liquidity of Islamic banks is more sensitive to bank-specific variables. The findings showed that Islamic banks, which cannot use all of the conventional liquidity management tools in the liquidity management process for different reasons, have to hold higher liquid assets than conventional banks in the short term, even if they are balanced in the long term.

This study examines the impact of conventional and sustainable olive oil production methods on export levels in ten Mediterranean countries from 2011 to 2022. Using panelcorrected standard errors (PCSE) and feasible generalized least squares (FGLS), the analysis explores relationships between export quantity, production volume, average annual rainfall, and export levels. The countries are divided into two sub-panels: conventional and sustainable practices. Results reveal a significant positive relationship between export quantity and export levels. In the sustainable sub-panel, the production volume and export relationship are positive but insignificant, while in the conventional sub-panel, it is negative and insignificant. Average annual rainfall positively influences export levels in the conventional panel but has an insignificant effect in the sustainable panel. The study recommends adopting sustainable practices to enhance export levels due to their positive economic and environmental outcomes.

Abstract The purpose of this study is to examine the impact of national savings on economic development, as measured by the Human Development Index (HDI), Inequality-adjusted HDI (iHDI), and Multidimensional Poverty Index (MPI), in ten of the poorest countries in Sub-Saharan Africa. The study employs a sequential Generalized Method of Moments (GMM) analysis to address potential endogeneity issues and account for the dynamic nature of the relationships, covering the period from 2009 to 2019. The findings reveal a complex relationship between national savings and the selected development indicators. While national savings exhibit positive impacts on HDI and iHDI, the results are not consistently statistically significant across all the sequential models. However, the analysis suggests that national savings have a positive influence on reducing multidimensional poverty, as measured by MPI, particularly when effectively channeled into productive investments. The study also highlights the significant positive impact of government expenditure and foreign direct investment (FDI) on human development, underscoring the importance of strategic public investments and foreign capital. The results suggest that while national savings are crucial, their effective utilization is essential for enhancing human development indices. Strategic investments in public goods and foreign capital are also important. The mixed effects of inflation and official development assistance (ODA) emphasize the need for stable economic policies and effective utilization of foreign aid. The modest positive impact of institutional quality suggests that improvements in governance and institutional frameworks can contribute to human development. The findings underscore the need for policies promoting financial inclusion, efficient public expenditure, foreign direct investment, and stable macroeconomic conditions to leverage national savings for economic development. The study’s findings provide valuable insights for policymakers in Sub-Saharan Africa, highlighting the need for comprehensive strategies that leverage national savings, public expenditure, and foreign investment to drive sustainable economic development and poverty reduction.

This study investigates the impact of creative goods exports on economic growth. We use a panel dataset of 71 economies separated into two subsets of advanced and emerging or developing economies from 2002 to 2021. The main findings indicate that the impact of creative goods exports on economic growth is positive and statistically significant across countries. [ABSTRACT FROM AUTHOR]

Climate change affects the comfort level of tourists visiting coastal areas. Researching these impacts is important for a more comprehensive understanding of climate change and for developing effective adaptation solutions. Considering this fact, the study derived the Holiday Climate Index (HCI: Coast, HCI: Urban, and HCI: Combined) in the Mediterranean coastal provinces of Türkiye from 1976 to 2020. Utilizing the derived indices, the effects of climate-related holiday comfort on the number of tourist arrivals as well as on overnight stays between 1976 and 2020 were examined by panel data analysis. The study examined how comfort patterns could change during the period 2026–2050 under the pessimistic RCP8.5 scenario. It was detected that the comfort level significantly and positively affects the number of arrivals and overnight stays of tourists. Besides, comfort levels were found to deteriorate in the period 2026–2050 compared to the reference period, 1976–2020. As the comfort conditions get worse, the number of tourist arrivals and overnight stays is expected to decline in the future. It is envisaged that the results of the study can be useful for tourists, tourism professionals, operators, other stakeholders, and policymakers. [ABSTRACT FROM AUTHOR]

Objective: This study mainly focuses on the relationship between development aid and growth as well as examines the role of the institutional development levels of countries in this relationship and makes economic inferences. Methods: The analysis is conducted for 64 countries receiving official development assistance in the 2000–2020 period. To provide robust estimates in these studies, the Driscoll and Kraay estimator is used after fixed and random effects models. Results: In almost all of the estimated models, a significant relationship between official development assistance per capita and growth is found. Moreover, the models with institutional factors and interaction terms also support the results. According to the robust estimation results, official development assistance per capita positively affects growth. Conclusion: The results for all countries do not mean that good policies and strong institutions are unnecessary. In contrast, they show that the priority is the sum of aid per capita. [ABSTRACT FROM AUTHOR]

The G7 countries, which represent a significant portion of global energy consumption and have a major impact on the World economy, consider energy to be of utmost importance. These advanced economies have a significant influence on global oil dynamics. Oil will continue to be a significant component of the global energy system, with an anticipated consumption of 70-80 million barrels per day by 2035. This study aims to investigate the causal relationship between oil consumption and economic growth in G7 countries from 1990 to 2022 using panel data analysis methods. The analysis employed Gengenbach et al.'s (2016) cointegration test and Emirmahmutoğlu and Kose's (2011) causality methods. The results indicate a cointegration relationship and a positive effect of oil consumption on economic growth. However, no causality relationship was detected between the variables, which supports the neutrality hypothesis in the literature. [ABSTRACT FROM AUTHOR]

Over the last few decades, the European Union (EU) has made progress in reducing economic disparities between Member States. However, persistent differences in employment rates remain, prompting a concerted effort to foster economic development conducive to job creation. However, the previous research does not address the impact of labour productivity on the output-employment relationship. While they provide insights into the complex interplay between productivity, output, and employment, they do not comprehensively analyse how labour productivity affects the output-employment relationship. Using panel data from 27 EU countries and the UK over 2000-2022, we aim to evaluate whether economic growth led by increased productivity can enlarge employment when the complexity of interrelationships is specified in the model. While initial estimates using pooled OLS and 2SLS methods yield insignificant results, 3SLS estimates reveal a significant mediating effect of productivity on the output-employment nexus. The results imply that raising labour productivity can boost employment prospects during economic expansions. However, the mediating effect weakens during downturns, highlighting the need for multifaceted policy interventions. These findings provide crucial insights for policymakers navigating the complex and challenging dynamics of employment and economic growth in the EU context. [ABSTRACT FROM AUTHOR]

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Copyright of Afyon Kocatepe University Journal of Social Sciences / Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi is the property of Afyon Kocatepe University (AKU) Sosyal Bilimler Enstitusu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Afyon Kocatepe University Journal of Social Sciences / Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi is the property of Afyon Kocatepe University (AKU) Sosyal Bilimler Enstitusu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study investigates the impact of economic policy uncertainty (EPU) on bilateral trade using a modified gravity model of Anderson and van Wincoop (2003) for 21 economies from 2003 to 2018. The analysis includes the yearly mean and standard deviation of EPUs to assess the effects of EPU levels and volatilities on trade values. Increased domestic EPU significantly reduces imports and total trade, while increased partner EPU decreases exports but increases imports. EPU volatility in both domestic and partner countries significantly reduces bilateral trade values. These findings suggest that countries turn to foreign markets to offset domestic demand decreases due to high EPU, except when EPU volatility is high, which negatively impacts all trade activities. The study emphasizes the need for stable, transparent, and rules-based policy frameworks to sustain global trade growth. [ABSTRACT FROM AUTHOR]

Broadband has emerged as an important infrastructure element to promote economic growth. This study aims to investigate and compare the relationship between broadband adoption and economic growth between developed and developing countries using panel data analysis. The empirical results signified that broadband adoption contributed positively to economic growth in both the developed and developing country groups. However, broadband's contribution towards economic growth was larger in the developed country group than in the developing country group. Also, several policy recommendations to improve the contribution of broadband adoption towards economic growth arose from the results of this study. [ABSTRACT FROM AUTHOR]

This study investigates the spatial and temporal dynamics of housing prices in Serbia, addressing the critical need to understand the drivers of real estate prices and their implications for economic and social welfare. Employing a panel data analysis approach on a unique dataset covering 24 distinct urban areas in Serbia from 2011 to 2021, we examine the relevance of diverse economic, demographic, and infrastructural indicators, providing novel insights within a developing country context. Our findings reveal that the housing market stock-flow model effectively predicts housing price appreciation trends, explaining over 60 percent of variation in property prices. Notably, disparities in labour income, captured by average wages and registered employment rates, emerge as significant determinants of real estate prices, underlining socio-economic disparities within Serbian cities. Housing prices exhibit a positive response to the population/housing stock ratio, suggesting higher prices in cities experiencing faster population growth relative to housing supply. Intensified construction is associated with elevated housing prices. Additionally, we find positive association between the inflation variable and housing prices, underlining real estate's potential as an inflation hedge. Public service provision and infrastructural amenities also emerge as contributors to higher housing prices in urban areas, emphasizing the importance of comprehensive urban planning strategies. Our study contributes to the literature by providing specific quantitative evidence, advancing the understanding of urban housing market dynamics in developing countries. By offering nuanced insights into determinants of housing prices, our research informs policymakers and urban planners seeking to foster equitable and sustainable urban development strategies. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Financial Politic & Economic Reviews / Finans Politik & Ekonomik Yorumlar is the property of Journal of Financial Politic & Economic Reviews / Finans Politik & Ekomomik Yorumlar and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Economic literature suggests that banks change their dividend payouts for three main reasons. They may be willing to signal good future profitability to shareholders to address information asymmetry, or use dividends to mitigate the agency costs, or could come under pressure from prudential supervisors and regulators to retain earnings. The COVID-19 pandemic led to introduction of sector-wide recommendation by regulators to suspend dividend payouts in view of prevailing large uncertainty. Using a panel data approach for two samples of listed and unlisted European banks, this paper provides evidence that, over a decade and a half preceding the pandemic, bank dividend payouts were adjusted in line with the three motivations found in the literature. The results are robust to selection of alternative variables representing these motivations. Banks are however found not to discount expectations about future economic conditions or their own profitability when making payouts. Simulations shown in the paper suggest that, in the absence of supervisory recommendations, banks would likely have reduced the payouts only slightly in the first year of the pandemic. [ABSTRACT FROM AUTHOR]

The present study is motivated by the need to decouple economic growth from environmental degradation given the new wave of chase for higher economic growth trajectories comes with its environmental cost implications, especially among developing blocs like the Emerging 7 (E7) countries. There is a consistent trade-off between economic growth versus environmental quality. Government apparatus are perpetually on the chase for low-carbon emission policies via the pursuit for green economy. To this end, this present study extends the conventional environmental Kuznets curve (EKC) argument by incorporating the role of institution in emerging industrialized economies (E7) and using second-generation panel analysis methods like mean group (MG), augmented mean group (AMG), common correlated effects mean group (CCEMG), and the Dumitrescu and Hurlin causality test for more robust estimates and inferences. To this end, we explore the long-run and causality relationship between economic growth, quadratic form of economic growth, institutional quality, trade flow, investment in energy sector, and financial development in an EKC environment. Empirical analysis established a long-run equilibrium relationship among the outlined variables over the study period. The long-run regression shows the presence of EKC in the E7. Thus, suggesting the preference for GDP growth over environmental quality at the earlier stage of growth curve. Interestingly, investment in energy, trade flow dynamics across the blocs, and financial development dampens the detrimental effect of environmental pollution as we observed negative relationship with the ecological footprint. On the contrary, quality of institution is weak as institutional quality increase (worsen) the quality of environment in the E7 economies. From a policy perspective, this current study proposed the need for more stringent environmental treaties and regulations and promotion of green economy without compromising economic growth. In the conclusion part of the study, more details and specifics about the policy blueprint are presented. [ABSTRACT FROM AUTHOR]

Air pollution is known to have adverse effects on physical health, but the influence of public health expenditure (PHE) on physical health has received less attention. This study utilizes 2 years of panel data from the China Family Panel Studies (CFPS) to investigate the effects of air pollution and PHE on physical health. The main findings reveal that, for each unit increase in SO2, there is a corresponding decrease of 0.006 in physical health. For each unit increase in PHE, there is a 0.838 increase in physical health. Heterogeneity analysis indicates that the impact of air pollution on public health varies among different groups. Notably, air pollution has more detrimental effects on women's health compared to men, and middle‐aged and elderly individuals are more vulnerable to air pollution. Additionally, urban residents are more susceptible to the adverse effects of air pollution compared to rural residents. Furthermore, PHE positively impacts women's health and significantly enhances the health of rural residents. People residing in western and central regions are more susceptible to air pollution than those in the eastern regions. This underscores the importance of tailoring environmental pollution reduction and PHE increase policies to address the unique needs of various groups and regions in order to promote overall improvements in residents' health. [ABSTRACT FROM AUTHOR]

The study examined the mediating role of market capitalization in the relationship between economic growth and macroeconomic variables in twenty countries, including foreign direct investment, gross fixed capital formation, government spending, and inflation. The study has used panel data of twenty countries from the period of 2002-2021. The selection of countries involves three criterions, first; the study selected three regions; Asia, Europe, and Mena region. Secondly, among those selected countries, the study tried to select all three categories, higher income countries, middle income countries, and upper middle-income countries. The selection of these countries follows the criteria of GDP growth rate of 2021. Thirdly, these economies are either emerging economies or the economies who have established the stock market and getting its benefits for sustained GDP growth rate e.g. Australia, China, and Germany etc. Panel regression results show that foreign direct investment, gross fixed capital formation, consumption expenditures, inflation, GDP per employed person, and education expenditures all contribute to economic growth in selected countries, whereas an increase in the real effective exchange rate reduces growth. Hayes (2022) employs a mediation analysis approach that confirms market capitalization as a partially mediating variable between the rate of economic growth and various control variables in case of selected 20 countries. Providing more favorable policies for investors and enterprises, such as special economic zones and free tax breaks. Furthermore, emphasis on the money supply and preserving the currency's balance between face and interior worth. Increased foreign direct investment raises the country's workforce demand. [ABSTRACT FROM AUTHOR]

The purpose of this work is to investigate novel determinant factors of environmental performance such as press freedom and voice and accountability. Having reviewed the specialized literature in this field, one can observe and analyse the differentiated magnitude of the impact press freedom imprints on the Environmental Performance Index and the greenhouse gas emissions on the other, for a generous sample of countries, according to their development levels: high income, upper middle income, lower-middle income and low-income countries. The results support the positive effect of press freedom upon lowering greenhouse gas emissions and improving the overall environmental performance of nations, particularly for the subsample of low-income countries. The current findings are robust to several proxies and control variables. [ABSTRACT FROM AUTHOR]

Copyright of Çankırı Karatekin University Journal of the Faculty of Economics & Administrative Sciences is the property of Cankiri Karatekin University, Faculty of Economics & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Developed countries have long tried to increase their environmental standards to mitigate the negative effects of economic activities. For this purpose, they impose environmental taxes, energy taxes, and emission limits. In the last decade, a new measurement technique for environmental policy was introduced: the Environmental Policy Stringency Index (EPS index). This index takes values from 0.00 to 6.00, and higher values refer to more stringent environmental policies, whereas lower values suggest lax policies. This study aims to explore the impact of the EPS index on economic activities at the aggregate and sectoral levels for 20 European countries covering the period 1995–2020. For this purpose, this study utilizes the dynamic panel data approach, the two‐step system generalized method of moments (GMM) estimation method. The empirical findings show that an increase in the EPS index causes a decline in economic growth at the aggregate level. At the sectoral level, it was found that the industry sector is negatively affected by increases in environmental standards. In addition to the system GMM results, this study employs the Dumitrescu–Hurlin panel non‐causality test to detect causal linkages between variables. The empirical findings show that the EPS index Granger causes economic activity in almost all sectors. The empirical results indicate that environmental regulations should be carefully designed to prevent economic contraction. Policymakers need to develop policies to decrease dependency on fossil fuels in industrial production. Thus, they can subsidize firms to invest in productive and innovative areas. [ABSTRACT FROM AUTHOR]

This study analyzes the impact of military expenditures on sustainable development in NATO countries. The analysis utilizes annual data for the period between 1995 and 2019. In this study, the Durbin-Hausman panel cointegration test is used to analyze the cointegration relationship between the variables and the Panel AMG estimator is used to estimate the long-run coefficients. The results of the AMG estimator show that military expenditures and industrial production index have a negative effect on sustainable development in NATO countries, while foreign direct investments have a positive effect. The impact of primary energy consumption is negative and less significant than the other negative impacts. The study also analyzes how the impact of military expenditures on sustainable development varies across countries. This analysis reveals the significant differences in the direction, significance, and coefficient size of the relationship among different countries. These findings suggest that the impact of military expenditures on sustainable development varies across countries. Therefore, countries should develop policies to ensure sustainable development by considering their specific dynamics. [ABSTRACT FROM AUTHOR]