Journal of Economics, Finance and Administrative Science
URI permanente para esta comunidadhttps://hdl.handle.net/20.500.12640/4090
La Journal of Economics, Finance and Administrative Science (JEFAS), de la Universidad ESAN, es una publicación académica de acceso abierto que presenta investigaciones revisadas por pares en administración, economía y finanzas, con un enfoque en el contexto latinoamericano e iberoamericano. Fundada en 1992 como Cuadernos de Difusión, en 2009 cambió de nombre a su actual denominación como JEFAS. Ha evolucionado en colaboración con importantes editoriales, como Elsevier y actualmente Emerald Publishing. La revista publica investigaciones de alta calidad sin costo para los autores, con el respaldo de ESAN y su compromiso con la difusión del conocimiento científico y académico, y la práctica gerencial.
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Ítem Solo Metadatos Corruption's effect on BRICS countries' economic growth: a panel data analysis(Universidad ESAN. ESAN Ediciones, 2023-12-11) Simo-Kengne, Beatrice D.; Bitterhout, SiphiwoPurpose: The theoretical debate of corruption's impact on economic growth remains unsettled, making it an empirical question. This study aims to investigate corruption's effect on BRICS countries' economic growth. Design/methodology/approach: A panel dataset on BRICS countries spanning 1996 to 2020 was used. Bias-corrected estimators in small dynamic panels were employed to estimate a growth model as a linear-quadratic function of corruption that accounts for cross-sectional dependence, endogeneity and unobserved heterogeneity due to country and time-specific characteristics. Findings: The results indicate that corruption is detrimental to economic growth in BRICS countries; the quadratic relationship implies corruption is less prevalent in some countries than others. Thus, governments of BRICS countries are encouraged to embark on anti-corruption policies to boost their economic performance. Originality/value: An important limitation of corruption studies is the difficulty in measuring real corruption experiences due to the secretive nature of corruption and the fact that corruption is known not to leave a paper trail. For the uncertainty of the index estimates, the analysis used a continuous corruption composite score measuring the standard deviation of the extent to which public power is exercised for public gain. Furthermore, estimation and inference are robust to small dynamic panels with a general form of cross-sectional dependence.Ítem Solo Metadatos Impact of ICT diffusion and financial development on economic growth in developing countries(Universidad ESAN. ESAN Ediciones, 2023-06-30) Verma, Anushka; Sandeep Dandgawhal, Prajakta; Kumar Giri, ArunPurpose: The present study aimed to examine the relationship between information and communication technologies (ICT) diffusion, financial development and economic growth in the panel of developing countries for 2005–2019. Design/methodology/approach: The study employed the principal component analysis (PCA) to extract the index of ICT diffusion. First-generation panel unit root tests such as Levine Lin Chu (LLC), Im Pesaran Shin (IPS), Augmented Dickey-Fuller (ADF) and Phillips and Perron (PP) were employed to check the stationarity of the variables. Pedroni and Kao co-integration techniques were used to examine the existence of the long-run relationship, and co-integration coefficients were estimated using FMOLS and dynamic ordinary least squares (DOLS). The panel Granger causality approach examined the short-run and long-run causality. Findings: The results confirmed that ICT diffusion, financial development and trade openness accelerate growth, whereas inflation dampens economic growth. Further, the causality test showed bidirectional causality between ICT growth and financial development growth but a unidirectional causality from financial development to ICT diffusion in developing countries. Originality/value: The study recommends synchronizing public and private sector investment for a synergistic effect on ICT infrastructure and adequate investment in the financial sector to increase the growth rate in developing countries. Economic policies should be adopted toward incentives and subsidies to ensure affordable ICT services for disadvantaged communities. Also, training programs focussing on enhancing digital literacy to enable all segments of the population to use digital platforms for financial services are recommended.Ítem Solo Metadatos Impact of financial stress in advanced and emerging economies(Universidad ESAN. ESAN Ediciones, 2022-07-08) Valerio Roncagliolo, Flavio César; Villamonte Blas, Ricardo NorbertoPurpose: The purpose of the paper is to examine the differences in the impact of financial stress in advanced and emerging economies. Design/methodology/approach: The authors employ a panel vector autoregression model (PVAR) for a comparative analysis of the relationship between financial stress, economic growth and monetary stability in 14 advanced and emerging economies. A homogeneous measure of financial stress is constructed and measured as an index that provides signals of stress episodes in an economy. Findings: The impact of financial stress shocks is greater on the economic growth of advanced economies; likewise, financial stress shocks are significant only in advanced economies. The interbank interest rate is negatively affected by financial stress in emerging economies. In general, the results show a clear view of the importance of financial stability and the economic relevance of financial stress measures in the context of macro-prudential regulation. Originality/value: The results can be extended to monetary policy to implement measures that mitigate the impact of future financial crises.Ítem Solo Metadatos Tendencias y asuntos económicos asiáticos emergentes(Universidad ESAN. ESAN Ediciones, 1997-12-30) Yamazawa, IppeiDespite the continued high growth of the economies of East and Southeast Asian countries, referred to as the "East Asian miracle", the growth of these economies slowed down in 1996 compared to the previous two years. In view of this, it is suggested that high growth in the region will return in the medium or long term if five conditions are met: (i) structural changes in Asian production and trade, which will generate high productivity growth; (ii) economic opening policies, which include not only greater access to technology and foreign capital, but also increased competitiveness and efficiency; (iii) joint liberalization efforts, which will contribute to the rapid industrialization of the countries in the region by providing capital, technology and export markets; (iv) stabilization of the monetary system, so that exchange rates adjust flexibly and a stable flow of funds is maintained; and (v) resolution of environmental pollution and unstable and insufficient energy and food supplies, which create bottlenecks and impede continued high growth.Ítem Solo Metadatos Infraestructura de transporte en el Asia-Pacífico: demanda futura, problemas y soluciones(Universidad ESAN. ESAN Ediciones, 1997-12-30) Kim, JoseokThe economy of the Asia-Pacific region has registered one of the highest growth rates and this trend is expected to continue. As a result, passenger and cargo traffic has also increased, causing most of the airports and ports to become congested. This has generated the need for the State to invest in new infrastructure that can meet current demand, but the construction of new ports and airports generates a series of challenges, including financing, ownership, administration and regulation; all this in a globalized context, of economic liberalization and integration. The problems presented by the operation and investment in infrastructure, their causes and the possible ways of solving them are reviewed, at the same time that two policy options are presented: planning mechanisms and market mechanisms. Different options for introducing the market mechanism into infrastructure are examined, such as deregulation, the management contract, the effects of the reform, and the role of the government.Ítem Solo Metadatos Pequeña empresa: estrategias sistémicas para el crecimiento de un entorno global(Universidad ESAN. ESAN Ediciones, 2002-06-30) Roca Tavella, Santiago; Vargas Becerra, BraulioThis article takes stock of the neoliberal essay in Peru and raises the need to promote national growth based on an endogenous vision and a national strategy of systemic competitiveness that enhances the collective effort of domestic actors, especially small businesses, so that the country can assess changes in the environment instead of succumbing to them. It ends by formulating a general and orderly framework of development policies that will serve as a guide for the design of systemic strategies and for the growth and consolidation of small businesses, in what constitutes the step from an existentialist approach to an approach that prioritizes competitive viability and growth based on high-value exports.Ítem Solo Metadatos The role of natural resources in economic growth: new evidence from Pakistan(Universidad ESAN. ESAN Ediciones, 2020-12-01) Shabbir, Aiza; Kousar, Shazia; Kousar, FarzanaPurpose: The purpose of this study is to investigate the role of natural resources in economic growth by taking evidence from Pakistan. Design/methodology/approach: Total five variables are used in this study, i.e. GDP, population density, water renewable resources, deforestation and the emissions of CO2, based on time series data from 1972 to 2016. The annual data is collected from World Development Indicators, Food and Agriculture Organization and Pakistan Economic Survey. Vector error correction model technique is applied to find out the long-run results. Findings: Results depict that all variables have a negative and significant relationship over the long run at 5% level of significance. It is observed that 1% increase in population accordingly will degrade GDP by 0.334496%. Correspondingly, 1% increase of water renewable resources will degrade GDP by 0.450647%. Findings are aligning with the study of. Moreover, 1% increase in deforestation will diminish GDP by 0.127821%. If we increase 1% of CO2, GDP will be reduced by 0.802420%. Research limitations/implications: Results depict that all variables have a negative and significant relationship over the long run at 5% level of significance. It is observed that 1% increase in population accordingly will degrade GDP by 0.334496%. Correspondingly, 1% increase of water renewable resources will degrade GDP by 0.450647%. Findings are aligning with the study of. Moreover, 1% increase in deforestation will diminish GDP by 0.127821%. If we increase 1% of CO2, GDP will be reduced by 0.802420%. Practical implications: Family planning may be our last hope. Viable and fruitful family planning ought to be introduced. Status of ladies should be brought up in the society by providing education and employment opportunities. Time of marriage ought to be brought up to 25 years in case of males and 23 in case of females; this can help in decreasing the number of births. Having a large population will not automatically translate into economic prosperity. Investment in well-being, education, sound economic policies and good governance will bring about accelerated economic growth. Originality/value: In recent years, the issue of worldwide water shortage has attracted increasing consideration within scholarly community, non-administrative organizations and the media. Water shortage is a significant and ever-increasing danger to the environment, human well-being, advancement, energy security and the worldwide food supply. This work will introduce real issues and requirements relating to water, environmental changes and their impact on economic growth of Pakistan.Ítem Solo Metadatos External debt and growth: role of stable macroeconomic policies(Universidad ESAN. ESAN Ediciones, 2020-12-01) Dey, Sima Rani; Tareque, MohammadPurpose: This study aims to examine the impact of external debt on economic growth in Bangladesh within a broader macroeconomic scenario. Design/methodology/approach: In the process of doing so, it assesses the empirical cointegration, long-run and short-run dynamics of the concerned variables for the period of 1980–2017 applying the autoregressive distributed lag (ARDL) bounds testing approach to cointegration. First, debt-gross domestic product linkage explores the impact of external debt impact on economic growth using a set of macro and country risk variables, and then this linkage is also analyzed along with a newly formed macroeconomic policy (MEP) variable using principal component analysis. Findings: The study results reveal the negative impact of external debt on GDP growth, but the larger positive impact of MEP index indicates that this adverse effect of debt can be mitigated or even nullified by sound MEP and appropriate human resource policy. Originality/value: The dynamic effects of different shocks (external debt and macro policy variable) on economic growth by vector autoregression impulse response function also confirm our ARDL findings.Ítem Solo Metadatos El fenómeno de la informalidad y su contribución al crecimiento económico: el caso de la ciudad de Guayaquil(Universidad ESAN. ESAN Ediciones, 2014-12-30) Véliz Torresano, José; Díaz Christiansen, SuleenUnder-employment or informality is a compelling truth in developing countries, and Ecuador is no exception, least of all the city Guayaquil. This descriptive study attempts to investigate informality, its reality and characteristics, and especially the contribution to economic growth and its potential in future urban development, by determining the variables that influence the non-formalization of its activities. The results support that informality may be seen as an enterprise mechanism or associated phenomenon. The activities carried out by individuals in an informal way have an impact, not to the extent expected, on the production and growth of a city or region.Ítem Solo Metadatos Does more energy consumption support economic growth in net energy-importing countries?(Universidad ESAN. ESAN Ediciones, 2017-06-01) Esen, Ömer; Bayrak, MetinPurpose – This study aims to examine the effects of energy consumption on economic growth by means of a panel data analysis of 75 net energy-importing countries for the period 1990 to 2012. Design/methodology/approach – For the purpose of the analysis, the countries are classified into two groups, and each group is then classified into subgroups. The first group is formed based on the energy import dependence of the countries and is classified into two subgroups according to whether their dependence is greater than or less than 50 per cent. The second group is formed based on the income level of the countries and is classified into four subgroups, specifically, low-income economies, lower-middle-income economies, upper-middle-income economies and high-income economies. Findings – The findings obtained for both panel data and for each country indicate that there is a positive and statistically significant relationship between energy consumption and economic growth over the long term such that energy consumption contributes more to economic growth as the import dependence of the country decreases. Moreover, the effect of energy consumption on economic growth decreases as the income level of the country increases. This indicates that the efficient use of energy is as important as energy consumption, which is regarded as an important indicator of economic development. Originality/value – The authors expect that these findings will make a valuable contribution to the results of future studies, as they analyze the relationships among the variables by including the energy intensities of the countries.
