Search results for: causality violation

Authors: Sangdeok Lee, Sangwon Han, Changtaek Hyun

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Construction defects are major components that result in negative impacts on project performance including schedule delays and cost overruns. Since construction defects generally occur when a few associated causes combine, a thorough understanding of defect causality is required in order to more systematically prevent construction defects. To address this issue, this paper uses association rule mining (ARM) to quantify the causality between defect causes, and social network analysis (SNA) to find indirect causality among them. The suggested approach is validated with 350 defect instances from concrete works in 32 projects in Korea. The results show that the interrelationships revealed by the approach reflect the characteristics of the concrete task and the important causes that should be prevented.

Keywords: causality, defect causes, social network analysis, association rule mining

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Authors: Mohammad Saleem, Mujahid Kamran

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It is shown that causality, the principle that cause must precede effect, leads inter alia, to highly significant result that the velocity of a material particle cannot be even equal to that of light. Consequently, combined with special relativity, it leads to the conclusion that material particles of zero rest mass cannot exist in nature. Thus, causality, a principle without which nature would be incomprehensible, combined with special relativity, forbids the existence of material particles of zero rest mass. For instance, the neutrinos, as is now known, are material particles of non-zero rest mass. The situation changes when we consider the gauge particles. In fact, when the principle of causality was proposed, the concept of gauge particles had not yet been introduced. Now we know that photon, a gauge particle with zero rest mass does exist in nature. Therefore, principle of causality, as generally stated, is valid only for material particles. For gauge particles, in order to make the statement of causality consistent with experiment, it has to be modified: The cause should either precede or be simultaneous with the effect. Combined with special relativity, it allows gauge particles of zero rest mass.

Keywords: causality, gauge particles, material particles, special relativity

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Authors: Hasan S. Mahmoud, Salwa M. Beheiry, Vian Ahmed

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In light of the repercussions of the 2008 global economic crisis, the response of the United Arab Emirates economy and growth, and the vast construction activities that are undergoing, there is a need to investigate the relationship between construction activities and the Gross Domestic Product (GDP). This study aims to investigate the causality relationship between the construction industry in the United Arab Emirates and the GDP of the country in the last decade. For that, this study will investigate the relationship between the growth of the GDP and the growth of construction activities and their value addition to the economy. To ascertain this relationship, Granger Causality method is used to identify the causality between the time-dependent series.

Keywords: construction value addition, Granger causality, growth of gross domestic product, United Arab Emirates

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Authors: Mario Gómez, José Carlos Rodríguez

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This paper analyzes the Environmental Kuznets Curve (EKC) hypothesis to test the causality relationship between economic activity, trade openness and carbon dioxide emissions in Mexico (1971-2011). The results achieved in this research show that there are three long-run relationships between production, trade openness, energy consumption and carbon dioxide emissions. The EKC hypothesis was not verified in this research. Indeed, it was found evidence of a short-term unidirectional causality from GDP and GDP squared to carbon dioxide emissions, from GDP, GDP squared and TO to EC, and bidirectional causality between TO and GDP. Finally, it was found evidence of long-term unidirectional causality from all variables to carbon emissions. These results suggest that a reduction in energy consumption, economic activity, or an increase in trade openness would reduce pollution.

Keywords: causality, cointegration, energy consumption, economic growth, environmental Kuznets curve

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Authors: Fazeelat Duran, Darren Bishopp, Jessica Woodhams

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Negative emotions resulting from the breach of perceived obligations by an employer is called the psychological contract violation. Employees perceiving breach and feelings of negative emotions result in adverse outcomes for both the employee and employer. This paper aims to identify the relationships between contract breach, violation, stress and wellbeing and investigate whether fairness and self-efficacy mediate the relationships. A mixed method approach was used to analyze the online-surveys and semi-structured interviews with the police officers. It was identified that the psychological contract violation predicts stress and job-related well-being. Fairness and self-efficacy were identified as significant mediators to understand the underlying mechanisms of association. Whilst, in the interviews social support was identified as a popular mediator. Practical implications for employers are discussed.

Keywords: psychological contract violation and breach, stressors, depression, anxiety

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Authors: Flora Babongo, Valerie Chavez

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Inferring causality from observational data is one of the fundamental subjects, especially in quantitative finance. So far most of the papers analyze additive noise models with either linearity, nonlinearity or Gaussian noise. We fill in the gap by providing a nonlinear and non-gaussian causal multiplicative noise model that aims to distinguish the cause from the effect using a two steps method based on Bayesian additive models for location, scale and shape (BAMLSS) and on causal additive models (CAM). We have tested our method on simulated and real data and we reached an accuracy of 0.86 on average. As real data, we considered the causality between financial indices such as S&P 500, Nasdaq, CAC 40 and Nikkei, and companies' log-returns. Our results can be useful in inferring causality when the data is heteroskedastic or non-injective.

Keywords: causal inference, DAGs, BAMLSS, financial index

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Authors: Nasiru Inuwa, Haruna Usman Modibbo, Yahya Zakari Abdullahi

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The purpose of this paper is to investigate the effects of foreign direct investment (FDI), economic growth on carbon emissions in context of WAIFEM member countries. The Im-Pesaran-Shin panel unit root test, Kao residual based test panel cointegration technique and panel Granger causality tests over the period 1980-2012 within a multivariate framework were applied. The results of cointegration test revealed a long run equilibrium relationship among CO2 emissions, economic growth and foreign direct investment. The results of Granger causality tests revealed a unidirectional causality running from economic growth to CO2 emissions for the panel of WAIFEM countries at the 5% level. Also, Granger causality runs from economic growth to foreign direct investment without feedback. However, no causality relationship between foreign direct investment and CO2 emissions for the panel of WAIFEM countries was observed. The study therefore, suggest that policy makers from WAIFEM member countries should design policies aim at attracting more foreign direct investments inflow as well the adoption of cleaner production technologies in order to reduce CO2 emissions.

Keywords: economic growth, CO2 emissions, causality, WAIFEM

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Authors: Mingyue Sheng, Basil Sharp

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Greenhouse gas (GHG) emissions from national transport account for the largest share of emissions from energy use in New Zealand. Whether the environmental Kuznets curve (EKC) relationship exists between environmental degradation indicators from the transport sector and economic growth in New Zealand remains unclear. This paper aims at exploring the causality relationship between CO₂ emissions from the transport sector, fossil fuel consumption, and the Gross Domestic Product (GDP) per capita in New Zealand, using annual data for the period 1977 to 2013. First, conventional unit root tests (Augmented Dickey–Fuller and Phillips–Perron tests), and a unit root test with the breakpoint (Zivot-Andrews test) are employed to examine the stationarity of the variables. Second, the autoregressive distributed lag (ARDL) bounds test for co-integration, followed by Granger causality investigated causality among the variables. Empirical results of the study reveal that, in the short run, there is a unidirectional causality between economic growth and transport CO₂ emissions with direction from economic growth to transport CO₂ emissions, as well as a bidirectional causality from transport CO₂ emissions to road energy consumption.

Keywords: economic growth, transport carbon dioxide emissions, environmental Kuznets curve, causality

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Authors: Mario Gómez, José Carlos Rodríguez

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The causal relationship between energy consumption and economic growth has been an important issue in the economic literature. This paper studies the causal relationship between electricity consumption and economic growth in Mexico for the period of 1971-2011. In so doing, unit root tests and causality test are applied. The results show that the series are stationary in levels and that there is causality running from economic growth to energy consumption. The energy conservation policies have little or no impact on economic growth in México.

Keywords: causality, economic growth, energy consumption, Mexico

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Authors: Shilpi Tripathi

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India has adopted the policy of economic reforms (Globalization, Liberalization, and Privatization) in 1991 which has reduced the trade barriers and investment restrictions and further increased the economy’s international trade, foreign direct investment (FDI) inflows and Gross Domestic Product (GDP) growth. The paper empirically studies the relationship between India’s international trades, GDP, FDI and environment during 1978-2012. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO2). The second part focuses on the literature regarding the relationship among all the variables. The last part of paper, we examine the results of empirical analysis like co integration and Granger causality between foreign trade, FDI inflows, GDP and CO2 since 1978. The findings of the paper revealed that there is only one uni- directional causality exists between GDP and trade. The direction of causality reveals that international trade is one of the major contributors to the economic growth (GDP). While, there is no causality found between GDP and FDI, FDI, and CO2 and International trade and CO2. The paper concludes with the policy recommendations that will ensure environmental friendly trade, investment and growth in India for future.

Keywords: international trade, foreign direct investment, GDP, CO2, co-integration, granger causality test

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Authors: M. R. Bekli, N. Mebarki, I. Chadou

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In this study, we focus on the structure functions and violation of scale invariance in the context of non-commutative standard model (NCSM). We find that this violation appears in the first order of perturbation theory and a non-commutative version of the DGLAP evolution equation is deduced. Numerical analysis and comparison with experimental data imposes a new bound on the non-commutative parameter.

Keywords: NCSM, structure function, DGLAP equation, standard model

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Authors: Chi-Tai Shen

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This study aims to examine whether perceived organizational support moderates the relationship between person–former organization fit and person–organization fit after the mediating effect of feelings of violation. A two-stage data collection method was used. Based on our research requirements, we only approached participants who were involuntary turnover from their former organizations and looking for a new job. Our final usable sample was comprised of a total of 264 participants from Taiwan. We followed Muller, Judd, and Yzerbyt, and Preacher, Rucker, and Hayes’s suggestions to test our moderated mediation model. This study found that employee perceived organizational support moderated the indirect effect of person–former organization fit on person–organization fit (through feelings of violation). Our study ends with a discussion of the main research findings and their limitations and presents suggestions regarding the direction of future studies and the empirical implications of the results.

Keywords: person–organization fit, feelings of violation, organizational support, moderated mediation

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Authors: Khalid Mujaljal, Hassan Alhajhoj

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This paper empirically investigates the influence of oil price fluctuations on the key macroeconomic variables of the Kingdom of Saudi Arabia using unrestricted VAR methodology. Two analytical tools- Granger-causality and variance decomposition are used. The Granger-causality test reveals that almost all specifications of oil price shocks significantly Granger-cause GDP and demonstrates evidence of causality between oil price changes and money supply (M3) and consumer price index percent (CPIPC) in the case of positive oil price shocks. Surprisingly, almost all specifications of oil price shocks do not Granger-cause government expenditure. The outcomes from variance decomposition analysis suggest that positive oil shocks contribute about 25 percent in causing inflation in the country. Also, contribution of symmetric linear oil price shocks and asymmetric positive oil price shocks is significant and persistent with 25 percent explaining variation in world consumer price index till end of the period.

Keywords: Granger causality, oil prices changes, Saudi Arabian economy, variance decomposition

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Authors: Linnan Zhang

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Linguists, as well as psychologists, have shown great interests in implicit causality in reference processing. However, most frequently-used approaches to this issue are psychological experiments (such as eye tracking or self-paced reading, etc.). This research is a corpus-based one and is assisted with statistical tool – software R. The main focus of the present study is about the competition between verb-based implicit causality and theme structure’s influence on anaphora bias in Mandarin Chinese sentences. In Accessibility Theory, it is believed that salience, which is also known as accessibility, and relevance are two important factors in reference processing. Theme structure, which is a special syntactic structure in Chinese, determines the salience of an antecedent on the syntactic level while verb-based implicit causality is a key factor to the relevance between antecedent and anaphora. Therefore, it is a study about anaphora, combining psychology with linguistics. With analysis of the sentences from corpus as well as the statistical analysis of Multinomial Logistic Regression, major findings of the present study are as follows: 1. When the sentence is stated in a ‘cause-effect’ structure, the theme structure will always be the antecedent no matter forward biased verbs or backward biased verbs co-occur; in non-theme structure, the anaphora bias will tend to be the opposite of the verb bias; 2. When the sentence is stated in a ‘effect-cause’ structure, theme structure will not always be the antecedent and the influence of verb-based implicit causality will outweigh that of theme structure; moreover, the anaphora bias will be the same with the bias of verbs. All the results indicate that implicit causality functions conditionally and the noun in theme structure will not be the high-salience antecedent under any circumstances.

Keywords: accessibility theory, anaphora, theme strcture, verb-based implicit causality

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Authors: Haruna Modibbo Usman, Mustapha Muktar, Nasiru Inuwa

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This paper examined the long run relationship between health outcomes and economic growth in Nigeria from 1961 to 2012. Using annual time series data, Augmented Dickey-Fuller (ADF) test is conducted to check the stochastic properties of the variables. Also, the long run relationship among the variables is confirmed based on Johansen Multivariate Cointegration approach whereas the long run and short run dynamics are observed using Vector Error Correction Mechanism (VECM). In addition, VEC Granger causality test is employed to examine the direction of causality among the variables. On the whole, the results obtained revealed the existence of a long run relationship between health outcomes and economic growth in Nigeria and that both life expectancy and crude death rate as measures of health are found to have a long run negative and statistically significant impact on the economic growth over the study period. This is further buttressed by the results of Granger causality test which indicated the existence of unidirectional causality running from life expectancy and crude death rate to economic growth. The study therefore, calls for governments at various levels to create preconditions for health improvements in Nigeria in order to boost the level of health outcomes.

Keywords: cointegration, economic growth, Granger causality, health outcomes, VECM

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Authors: C. Q. Geng, Y. K. Hsiao

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We study direct CP-violating asymmetries (CPAs) in the baryonic B decays of B- -> p\bar{p}M and Λb decays of Λb ®pM andΛb -> J/ΨpM with M=π-, K-,ρ-,K*- based on the generalized factorization method in the standard model (SM). In particular, we show that the CPAs in the vector modes of B-®p\bar{p}K* and Λb -> p K*- can be as large as 20%. We also discuss the simplest purely baryonic decays of Λb-> p\bar{p}n, p\bar{p}Λ, Λ\bar{p}Λ, and Λ\bar{Λ}Λ. We point out that some of CPAs are promising to be measured by the current as well as future B facilities.

Keywords: CP violation, B decays, baryonic decays, Λb decays

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Authors: Nicholas Burica, Nina Selak

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The ADHCAT (Automated Distribution Hosting Capacity Assessment Tool) was designed to run Hosting Capacity Analysis on the ComEd system via a stochastic DER (Distributed Energy Resource) placement on multiple power flow simulations against a set of violation criteria. The violation criteria in the initial version of the tool captured a limited amount of issues that individual departments design against for DER interconnections. Enhancements were made to the tool to further align with individual department violation and operation criteria, as well as the addition of new modules for use for future load profile analysis. A reporting engine was created for future analytical use based on the simulations and observations in the tool.

Keywords: distributed energy resources, hosting capacity, interconnect, voltage optimization

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Authors: Maman Ali M. Moustapha, Qian Yu, Benjamin Adjei Danquah

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This paper investigates the dynamic interaction between renewable energy consumption (REC) and economic growth using dataset from the Economic Community of West African States (ECOWAS) from 2002 to 2016. For this study the Autoregressive Distributed Lag- Bounds test approach (ARDL) was used to examine the long run relationship between real gross domestic product and REC, while VECM based on Granger causality has been used to examine the direction of Granger causality. Our empirical findings indicate that REC has significant and positive impact on real gross domestic product. In addition, we found that REC and the percentage of access to electricity had unidirectional Granger causality to economic growth while carbon dioxide emission has bidirectional Granger causality to economic growth. Our findings indicate also that 1 per cent increase in the REC leads to an increase in Real GDP by 0.009 in long run. Thus, REC can be a means to ensure sustainable economic growth in the ECOWAS sub-region. However, it is necessary to increase further support and investments on renewable energy production in order to speed up sustainable economic development throughout the region

Keywords: Economic Growth, Renewable Energy, Sustainable Development, Sustainable Energy

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Authors: Chiung-Ju Huang

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This study utilizes a frequency domain approach over the period of 1996 to 2013 to examine the causal relationship between governance and economic growth in ten Asian countries, which have different levels of democracy; classified as “Free”, “Partly Free”, and “Not Free” countries. The empirical results show that there is no Granger causality running from governance to economic growth in “Not Free” countries and “Partly Free” countries with the exception of Singapore. As for “Free” countries such as South Korea and Taiwan, there is a one-way causality running from governance to economic growth. The findings of this study indicate that policy makers in South Korea, Taiwan, and Singapore could use governance index to improve their predictions of the future economic growth.

Keywords: economic growth, frequency domain, governance, granger causality

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Authors: Mahvish Anwaar

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Research Question: In this paper, we explore the causal relationship between banking competition, banking stability, and economic growth. Research Findings: The unbalanced panel data starting from 2000 to 2018 is collected to analyze the causality among banking competition, banking stability, and economic growth. The main focus of the study is to check the direction of causality among selected variables. The results of the study support the demand following, supply leading, feedback, and neutrality hypothesis conditional to different measures of banking competition, banking stability, and economic growth. Theoretical Implication: Jayakumar, Pradhan, Dash, Maradana, and Gaurav (2018) proposed a theoretical model of the causal relationship between banking competition, banking stability, and economic growth by using different indicators. So, we empirically test the proposed indicators in our study. This study makes a contribution to the literature by showing the defined relationship between developing and developed countries. Policy Implications: The study covers various policy implications regarding investors to analyze how to properly manage their finances, and government agencies will take help from the present study to find the best and most suitable policies by examining how the economy can grow concerning its finances.

Keywords: competition, stability, economic growth, vector auto-regression, granger causality

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Authors: Quangyen Tran, YeZhuang Tian, Chengfeng Li

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Psychological contract violations may lead to damaging an organization through losing its potential employees; it is a very significant concept in understanding the employment relationships. The authors selected contents of psychological contract violation scale based on the nine areas of violation most relevant to managerial samples (High pay, training, job security, career development, pay based on performance, promotion, feedback, expertise and quality of co-workers and support with personal problems), using regression analysis, the degree of psychological contract violations was measured by an adaptation of a multiplicative scale with Cronbach’s alpha as a measure of reliability. Through the regression analysis, psychological contract violations was found have a positive impact on employees’ job satisfaction, the frequency of psychological contract violations was more intense among male employees particularly in terms of training, job security and pay based on performance. Job dissatisfaction will lead to a lowering of employee commitment in the job, enterprises in Hanoi, Vietnam should therefore offer lucrative jobs in terms of salary and other emoluments to their employees.

Keywords: psychological contract, psychological contract violation, job satisfaction, subordinate employees, employers’ obligation

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Authors: Fazeelat Duran, Darren Bishopp, Jessica Woodhams

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Psychological contract refers to the perceptions of an employee and their employer regarding their mutual obligations towards each other. The rationale for applying the psychological contract theory in UK policing was to investigate its impact on their wellbeing because the psychological contract is a useful tool in identifying factors having a negative effect on the wellbeing of employees. The paper will report on a study, which examined how occupational stressors and psychological contract violation may influence the wellbeing (e.g. Physical Stress and General Health) of a sample of police officers (N=127). The design of the study was cross-sectional and based on data collected through a self-report survey. The results of hierarchical regression analyses and structural equation model, suggest that occupational stressors and psychological contract violation play a critical role in both physical and psychological health. The implications of these findings and the utility of considering the psychological contract will be discussed.

Keywords: police officers, psychological contract, occupational stressors, wellbeing

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Authors: Andrew Clark

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McCauley, Bassler, and Gunaratne show that integration I(d) processes as used in economics and finance do not necessarily produce stationary increments, which are required to determine causality in both the short term and the long term. This paper follows their lead and shows I(d) aluminum cash and futures log prices at daily and weekly intervals do not have stationary increments, which means prior causality studies using I(d) processes need to be re-examined. Wavelets based on undifferenced cash and futures log prices do have stationary increments and are used along with transfer entropy (versus cointegration) to measure causality. Wavelets exhibit causality at most daily time scales out to 1 year, and weekly time scales out to 1 year and more. To determine stationarity, localized stationary wavelets are used. LSWs have the benefit, versus other means of testing for stationarity, of using multiple hypothesis tests to determine stationarity. As informational flows exist between cash and futures at daily and weekly intervals, the aluminum market is efficient. Therefore, hedges used by producers and consumers of aluminum need not have a big concern in terms of the underestimation of hedge ratios. Questions about arbitrage given efficiency are addressed in the paper.

Keywords: transfer entropy, nonstationary increments, wavelets, localized stationary wavelets, localized stationary wavelets

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Authors: Sabera Sultana

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In today's war-torn world, it is crucial to identify, understand, and apply the laws aimed at minimizing civilian casualty during wartime. The purpose of this paper is to analyze the provisions of protected status under international humanitarian law and evaluate the historical facts and shreds of evidences of violation of protected status during the Liberation War of Bangladesh. This legal research paper evaluates the international humanitarian laws and case laws regarding protected status of people during wartime and evaluates them against the historical facts and well-documented evidences of violation of protected status during the Liberation War of Bangladesh. This paper will help to create a brief guideline on Protected Status under international humanitarian law, which will help to protect our civilians during wartime if ever required.

Keywords: civilian protection, international humanitarian laws, liberation war of Bangladesh, protected status

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

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In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index.

Keywords: fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality

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Authors: Ogunwole Cecilia Oluwakemi, Timothy Ayomitunde Aderemi

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Provision of sufficient food and elimination of abject poverty have usually been the conventional benefits of agriculture in any society. Meanwhile, despite the fact that Nigeria is an agrarian society, food insecurity and poverty have become the issues of concern among both scholars and policymakers in the recent times. Against this backdrop, this study examined the nexus among agriculture, food security, and poverty reduction in Nigeria from 1990 to 2019 within the framework of the Cointegration and Granger Causality approach. Data was collected from the Central Bank of Nigeria Statistical Bulletin and the World Development Indicators, respectively. The following are the major results that emanated from the study. A long run equilibrium relationship exists among agricultural value added, food production index, and GDP per capita in Nigeria. Similarly, there is a unidirectional causality which flows from food production index to poverty reduction in Nigeria. In the same vein, one way causality flows from poverty reduction to agricultural value added in Nigeria. Consequently, this study makes the following recommendation for the policymakers in Nigeria, and other African countries by extension, that agricultural value added and food production are the important variables that cannot be undermined when poverty reduction occupies the central focus of the policymakers. Therefore, any time these policymakers want to reduce poverty, policies that drive agricultural value added and food production should be embarked upon. Therefore, this study will contribute to the literature by establishing the type of linkage that exists between agriculture, food security, and poverty reduction in Nigeria.

Keywords: agriculture, value added, food production, GDP per capita, Nigeria

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Authors: Nandita Narayan

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In most constitutional democracies, courts have been the gatekeepers of fundamental rights. The task of determining whether a violation is in fact justified, therefore, is judicial. Any state action, legislative or administrative, has to be tested by the application of two standards – first, the action must be within the scope of the authority conferred by law and, second, it must be reasonable. If any action, within the scope of the authority conferred by law is found to be unreasonable, it will be struck down as unconstitutional or ultra vires. This paper seeks to analyse the varying standards of reasonableness adopted by the Supreme Court of India where there is a violation of fundamental rights by state action. This is sought to be done by scrutinising case laws and classifying the legality of the violation under one of three levels of judicial scrutiny—strict, intermediate, or weak. The paper concludes by proving that there is an irregularity in the standards adopted, thus resulting in undue discretionary power of the judiciary which strikes at the very concept of reasonableness and ultimately becomes arbitrary in nature. This conclusion is reached by the comparison of reasonableness review of fundamental rights in other jurisdictions such as the USA and Canada.

Keywords: constitutional law, judicial review, fundamental rights, reasonableness, India

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Authors: Jianlin Wang, Jiajia Zhao

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This paper applies the theory and empirical method to examine the relationship between electricity price and coal price, as well as electricity and industry output, for China during Jan 1999-Dec 2012. Our results indicate that there is no any causality between coal price and electricity price under other factors are controlled. However, we found a bi-directional causality between electricity consumption and industry output. Overall, the electricity price set by China’s NDRC is inefficient, which lead to the electricity supply shortage after 2004. It is time to reform electricity price system for China’s reformers.

Keywords: electricity price, coal price, power supply, China

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Authors: Dejene Gizaw Kidane

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This study examines the impact of foreign direct investment on economic growth of Ethiopia using yearly time-series data for 1974 through 2013. Economic growth is proxies by real per capita gross domestic product and foreign direct investment proxies by the inflow of foreign direct investment. Other control variables such as gross domestic saving, trade, government consumption and inflation has been incorporated. In order to fully account for feedbacks, a vector autoregressive model is utilized. The results show that there is a stable, long-run relationship between foreign direct investment and economic growth. The variance decomposition results show that the main sources of Ethiopia economic growth variations are due largely own shocks. The pairwise Granger causality results show that there is a unidirectional causality that runs from FDI to economic growth of Ethiopia. Hence, the researcher therefore recommends that, FDI facilitate economic growth, so the government has to exert much effort in order to attract more FDI into the country.

Keywords: real per capita GDP, FDI, co-integration, VECM, Granger causality

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Authors: Bilal Ashraf, Qianxiao Zhang

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This study empirically investigated the linkage amid financial development and its important determinants such as information and communication technology, natural resource rents, economic growth, current account balance, and gross savings in 107 economies. This paper preferred to employ the second-generation unit root tests to handle the issues of slope heterogeneity and “cross-sectional dependence” in panel data. The “Kao, Pedroni, and Westerlund tests” confirm the long-lasting connections among the variables under study, while the significant endings of “cross-sectionally augmented autoregressive distributed lag (CS-ARDL)” exposed that NRR, CAB, and S negatively affected the financial development while ICT and EG stimulates the procedure of FD. Further, the robustness analysis's application of FGLS supports the appropriateness and applicability of CS-ARDL. Finally, the findings of “DH causality analysis” endorse the bidirectional causality linkages amongst research factors. Based on the study's outcomes, we suggest some policy suggestions that empower the process of financial development, globally.

Keywords: determinants of financial developments, CS-ARDL, financial development, global sample, causality analysis

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