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Open Access
Article
Publication date: 21 October 2019

Mohamed Samir Abdalla Zahran

The purpose of this paper is to explore and analyse the dynamic relationship between remittances inflows of Egyptians working abroad and asymmetric oil price shocks.

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Abstract

Purpose

The purpose of this paper is to explore and analyse the dynamic relationship between remittances inflows of Egyptians working abroad and asymmetric oil price shocks.

Design/methodology/approach

This study uses a vector autoregressive (VAR) model to explain the impulse response functions (IRFs) and the forecast error variance decomposition (FEVD). The rationale behind using these tools is its ability to examine the dynamic effects of our variables of interest.

Findings

The impulse response functions confirmed that remittance inflows have various responses to asymmetric oil price shocks. For instance, inflowing remittances increase in response to positive oil price shocks, while it decreases in response to negative oil price shocks. Also, the results indicate that the responses are significant in the short and medium-run and insignificant in the long run. The magnitude of these responses reaches its peak or trough in the third year. Further, the variance decomposition reveals that oil price decreases are more influential than oil price increases.

Originality/value

This means that remittances inflows in Egypt are pro-cyclical with oil price shocks. That explained by the fact that more than one-half of those remittances sent from GCC countries where real economic growth is very pro-cyclical with the oil prices. This empirical assessment will help policymakers to determine the behaviour of remittances and highlights the impact of different kinds of oil prices shocks on remittances. Unlike the little existing literature, this study is the first study applied the VAR model using a novel dataset spanning 1960-2016.

Details

Review of Economics and Political Science, vol. 8 no. 6
Type: Research Article
ISSN: 2356-9980

Keywords

Article
Publication date: 24 February 2020

Yadav Krishna Kumar Rajnath, Akshoy Ranjan Paul and Anuj Jain

The purpose of air-intake duct used in combat aircrafts is to decelerate the inlet flow and concurrently raise the static pressure recovery at the compressor inlet. Because of…

Abstract

Purpose

The purpose of air-intake duct used in combat aircrafts is to decelerate the inlet flow and concurrently raise the static pressure recovery at the compressor inlet. Because of side-slip movement during sharp maneuvers of the aircrafts, the airflows ingested into twin air-intake ducts are not same and symmetric at its two inlets but are asymmetric in nature. The asymmetric inlet flow conditions at the twin air-intakes thus caused instabilities and deteriorated aerodynamic performance of aircraft components such as compressors and other downstream components. This study aims to investigate the flow control in a twin air-intake with asymmetric inflows.

Design/methodology/approach

The continuity and momentum equations are solved with second-order upwind scheme for computing finite-volume method-based unsteady computational fluid dynamics simulation.

Findings

Performance parameters are deteriorated with the increase of inflow asymmetry in the twin air-intake duct. Slotted synthetic jets are used to manage flow separation, thereby increasing aerodynamic performance of the air-intake. A variety of vortical structures are generated from the rectangular slots, convected downstream of the twin air-intake. The use of slotted synthetic jets increases static pressure recovery by 64 per cent whereas reducing total pressure loss coefficient by 63 per cent, distortion coefficient by 58 per cent and swirl coefficient by 55 per cent which is an indicative of better aerodynamic performance of twin air-intake.

Originality/value

The study stresses the need of robust flow control technique to improve the performance of combat air-intake system under extreme maneuvering conditions. The results can be useful in designing air-intake satisfying the stealth features for modern combat aircrafts.

Details

Aircraft Engineering and Aerospace Technology, vol. 92 no. 3
Type: Research Article
ISSN: 1748-8842

Keywords

Article
Publication date: 22 March 2021

Selma Izadi, Mamunur Rashid and Parviz Izadi

Extending on the resource-seeking foreign direct investment (FDI) hypothesis, this paper aims to uncover the potential relationship between financial and non-financial channels…

Abstract

Purpose

Extending on the resource-seeking foreign direct investment (FDI) hypothesis, this paper aims to uncover the potential relationship between financial and non-financial channels and inward FDI before and after the global financial crisis.

Design/methodology/approach

The sample includes 561 year-country observations on 33 developed and developing countries during 2001 and 2017. This study investigates several determinants such as inflation, gross domestic product growth, exchange rate, trade openness, financial openness, Sharpe ratio and country market capitalization, using ordinary least squares, fixed effects and system generalized method of moments.

Findings

The results indicate a negative relationship between inflation and financial openness with FDI inflow while market capitalization and exchange rate were positively connected to FDI inflow. All three financial channels of FDI inflow: financial market size, financial openness and Sharpe ratio significantly influenced FDI inflow. Moreover, inflation, financial openness and Sharpe ratio imply a meaningful impact on the FDI inflow of developed and developing countries, with a relatively stronger influence during the post-crisis periods. Asymmetric impact tests also revealed similar results.

Research limitations/implications

These findings offer an impression that financial market development channels may significantly boost FDIs in developing and, as well as developed countries. With special reference to the developing countries, a disciplined financial market and financial openness may help attract more FDIs.

Originality/value

Impact of the financial crisis on FDI inflows while observing the impact of the financing channels in developing and developed countries is rare in the academic domain. This study forwards that a structured and open financial market may help in recovering from the financial crisis.

Details

Journal of Financial Economic Policy, vol. 14 no. 1
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 19 June 2024

Ranjan Dash, Deepa Gupta and Aditi Mishra

Human development is critical for fostering economic growth and development. Given the importance of human development, this study examines the asymmetric impact of Foreign Direct…

Abstract

Purpose

Human development is critical for fostering economic growth and development. Given the importance of human development, this study examines the asymmetric impact of Foreign Direct Investment (FDI) on human development by decomposing total FDI into positive and negative shocks in five South Asian countries from 1990 to 2021.

Design/methodology/approach

The study uses the panel Non-linear Autoregressive Distributive Lag model (NARDL) to examine asymmetric long and short-run effects of FDI. Further, the direction of causality between HDI and FDI is examined using the recently developed (Joudis et al., 2021) panel granger non-causality test.

Findings

The positive and negative FDI shocks positively impact HDI, but positive shocks have a higher effect than negative shocks in the long run. The Wald Test rejects the long-run symmetric effect, confirming the asymmetric relationship between FDI and human development. More importantly, causality results reveal the FDI-led HDI and HDI-led FDI development in South Asia.

Practical implications

FDI should be encouraged by formulating a well-tailored policy intervention. The development policies should be interlinked with FDI policies. Absorptive capacities such as infrastructure facilities, a threshold level of human capital, and institutions should be strengthened to attract higher FDI into high-tech sectors.

Originality/value

Unlike the previous empirical studies, this study provides asymmetric evidence between FDI and human development in South Asia.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0380.

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 9 July 2021

Naif Alsagr and Stefan van Hemmen

This paper aims to assess the asymmetric impact of corruption on financial development in BRICS economies context.

Abstract

Purpose

This paper aims to assess the asymmetric impact of corruption on financial development in BRICS economies context.

Design/methodology/approach

The authors have adopted the novel panel non-linear autoregressive distributed lag (PNARDL) model of Shin et al. (2014), covering the period 1991–2018.

Findings

The findings confirm that corruption asymmetrically impacts financial development in BRICS economies. More precisely, long-run negative shocks of the control of corruption index have significant negative impacts on financial development. However, long-run positive shocks of the control of corruption index are insignificant. Moreover, both positive and negative shocks of corruption in short-run results are insignificant. Generally, the findings are robust having carried out several robustness checks and in favor of “sand in the wheels” hypothesis.

Originality/value

This study makes a novel contribution by developing insight on how corruption asymmetrically impacts financial development. To the best of the authors’ knowledge, this is the first attempt to use the PNARDL, which decompose the main independent variable (corruption) into positive and negative shocks. The PNARDL approach is a dynamic robust estimate that controls for the problem of endogeneity, which is a common phenomenon in such studies. Additionally, it is believed that the findings are important for policy makers, scholars and practitioners. Finally, the authors used the most recent available dataset covering the BRICS context.

Details

Journal of Financial Crime, vol. 29 no. 2
Type: Research Article
ISSN: 1359-0790

Keywords

Abstract

Details

Demystifying China’s Mega Trends
Type: Book
ISBN: 978-1-78714-410-1

Article
Publication date: 1 March 1950

H.B. Squire

The data on round jets in still air and in a general stream are analysed to determine the spread of the jet and the decay of the axial velocity distribution. The temperature…

Abstract

The data on round jets in still air and in a general stream are analysed to determine the spread of the jet and the decay of the axial velocity distribution. The temperature distributions for heated jets are treated in the same way. Methods of model test technique for jets and jet aircraft are discussed; it is shown that the jet momentum is the most important quality in the representation of hot jets. Illustrations of the effect of jets on neighbouring surfaces, including the Coanda effect, are given, and finally an examination of the effect of jets on aircraft stability is made.

Details

Aircraft Engineering and Aerospace Technology, vol. 22 no. 3
Type: Research Article
ISSN: 0002-2667

Article
Publication date: 3 February 2020

Suleiman Zangina and Sallahuddin Hassan

This paper aims to empirically explore the asymmetric relationship between corruption control and foreign direct investment (FDI) in Nigeria.

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Abstract

Purpose

This paper aims to empirically explore the asymmetric relationship between corruption control and foreign direct investment (FDI) in Nigeria.

Design/methodology/approach

The study utilized the non-linear autoregressive distributed lag (NARDL) bounds test technique for the time-series analysis covering the period 1984-2017.

Findings

The findings reveal that corruption inhibits FDI inflow and corruption control has asymmetric effects on FDI inflow to Nigeria. The coefficient of positive shock or changes in respect of corruption control is positive as well as statistically significant during the long run, while the coefficient of negative shock is negative, but statistically insignificant. This implies that improvement in corruption control encourages inflow of FDI to the country, whereas a decrease in corruption control has an insignificant effect.

Practical implications

Nigeria needs to intensify its corruption control efforts to effectively enhance the conduciveness as well as attractiveness of its business operating environment for FDI inflow.

Originality/value

This paper is among the first to use time-series analytical process to empirically verify the asymmetric association of corruption control and FDI inflow in Nigeria. In this regard, the insight generated by outcomes of the study will enable specific inferences to be drawn from the empirical findings by policy makers, academic researchers and business practitioners.

Details

Journal of Financial Crime, vol. 27 no. 2
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 11 August 2023

Mingqiu Zheng, Chenxing Hu and Ce Yang

The purpose of this study is to propose a fast method for predicting flow fields with periodic behavior with verification in the context of a radial turbine to meet the urgent…

Abstract

Purpose

The purpose of this study is to propose a fast method for predicting flow fields with periodic behavior with verification in the context of a radial turbine to meet the urgent requirement to effectively capture the unsteady flow characteristics in turbomachinery. Aiming at meeting the urgent requirement to effectively capture the unsteady flow characteristics in turbomachinery, a fast method for predicting flow fields with periodic behavior is proposed here, with verification in the context of a radial turbine (RT).

Design/methodology/approach

Sparsity-promoting dynamic mode decomposition is used to determine the dominant coherent structures of the unsteady flow for mode selection, and for flow-field prediction, the characteristic parameters including amplitude and frequency are predicted using one-dimensional Gaussian fitting with flow rate and two-dimensional triangulation-based cubic interpolation with both flow rate and rotation speed. The flow field can be rebuilt using the predicted characteristic parameters and the chosen model.

Findings

Under single flow-rate variation conditions, the turbine flow field can be recovered using the first seven modes and fitted amplitude modulus and frequency with less than 5% error in the pressure field and less than 9.7% error in the velocity field. For the operating conditions with concurrent flow-rate and rotation-speed fluctuations, the relative error in the anticipated pressure field is likewise within an acceptable range. Compared to traditional numerical simulations, the method requires a lot less time while maintaining the accuracy of the prediction.

Research limitations/implications

It would be challenging and interesting work to extend the current method to nonlinear problems.

Practical implications

The method presented herein provides an effective solution for the fast prediction of unsteady flow fields in the design of turbomachinery.

Originality/value

A flow prediction method based on sparsity-promoting dynamic mode decomposition was proposed and applied into a RT to predict the flow field under various operating conditions (both rotation speed and flow rate change) with reasonable prediction accuracy. Compared with numerical calculations or experiments, the proposed method can greatly reduce time and resource consumption for flow field visualization at design stage. Most of the physics information of the unsteady flow was maintained by reconstructing the flow modes in the prediction method, which may contribute to a deeper understanding of physical mechanisms.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 33 no. 10
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 1 June 2023

Imran Khan

The purpose of this paper is to empirically analyze the impact of remittance inflows on sustained economic growth in India.

Abstract

Purpose

The purpose of this paper is to empirically analyze the impact of remittance inflows on sustained economic growth in India.

Design/methodology/approach

This study has taken a time series dataset for the period of 1976–2021, and a nonlinear autoregressive distributed lag model technique (NARDL) has been applied to check the impact of remittance inflows along with other control variables, including broad money and service sector performance, on the sustained economic growth of India.

Findings

The results of the study indicated that in both the short and long runs, any positive shock in remittance inflows has a positive impact on the economic growth of India, while negative shocks do not affect economic growth.

Practical implications

The economic policymakers of India can use the findings of the study by implementing remittance-friendly policies. Moreover, NITI Aayog, the body working toward achieving sustainable development goals (SDGs) in India, can also use this study as a reference while making strategies to achieve SDG.

Originality/value

Economic growth has always been an area of interest among economists, researchers and policymakers. However, achieving sustained economic growth requires an analysis of those factors that themselves have sustained performance over a long period of time and have the potential to sustain it over the upcoming years. This study has taken remittance inflows as one such factor and investigated its impact on the sustained economic growth of India. At present, there is an evident gap in the literature that very little attention has been given to sustained Indian economic growth. Moreover, there is no study available in which the nonlinear impact of different variables has been tested on the economic growth of India.

Details

Journal of Economic Studies, vol. 51 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

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