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The purpose of this paper is to examine the determinants of aggregate and dis-aggregated import demand for Ghana for the period from 1985 to 2015.

The study employed the autoregressive distributed lag bounds testing approach.

The long-run finding show that aggregate import demand (AIMD) is positively determined by exports of goods and services and consumer spending, but negatively determined by foreign exchange reserves. It is found that consumer spending is the key positive determinant of the import demand of consumer goods, while foreign exchange reserves, trade liberalisation policy and relative import price are negative determinants. It is found that import demand of intermediate goods is positively determined by consumer spending, government spending and investment spending. The long-run findings further confirm that import demand of capital goods is negatively determined by relative import price. In the short run, the findings suggest that AIMD is positively affected by exports of goods and services, investment spending and consumer spending, but negatively affected by foreign exchange reserves. Import demand of consumer goods is positively influenced by consumer spending, but negatively determined by relative import price. Finally, import demand for intermediate goods is found to be positively determined by investment spending and government spending, while import demand for capital goods is positively associated with exports of goods and services and trade liberalisation policy in the previous period.

A number of studies have looked at the determinants of import demand, focussing on the aggregated import demand. This study adds the component of dis-aggregated import demand, as it assist in dealing with the issues of bias.

This study aims to develop an educational tourism demand model, particularly in respect to dynamic effects, university quality (QU) and competitor countries. Educational tourism has been identified as a new tourism sub-sector with high potential, and is thus expected to boost economic growth and sustainability.

This study reviews the literature on the determinants of educational tourism demand. Even though the existing literature is intensively discussed, mostly focusing on the educational tourism demand from an individual consumer's perspective, this study makes an innovation in line with the aggregate demand view. The study uses data that consist of the enrolment of international students from 47 home countries who studied in Malaysia from 2008 to 2017. The study utilised the dynamic panel method of analysis.

This study affirms that income per capita, educational tourism price, price of competitor countries and quality of universities based on accredited programmes and world university ranking are the determinants of educational tourism demand in both the short and the long term. Also, a dynamic effect exists in educational tourism demand.

The results imply that government should take the quality of services for existing students, price decisions and QU into account to promote the country as a tertiary education hub and achieve sustainable development.

Research on the determinants of the demand for educational tourism is rare in terms of macro data, and this study includes the roles of QU, competitor countries and dynamic effects.

This study simultaneously explores the nexus among formal, semiformal and informal credit markets and farm households' credit demand determinants in Vietnam.

This study uses a multistage stratified random sampling process for a survey of 648 smallholder farmers in the Red River Delta (RRD), Vietnam. The trivariate probit model (TVPM) is used to address the interdependence of farm households' credit demands in different credit markets.

The results reveal complementary relationships among two pairs of credit markets (formal versus informal and semiformal versus informal). There are dissimilarities among the determinants (household characteristics, household head's characteristics, credit history and geographic factors) of farm households' credit demands in different markets, reflecting segmentation of Vietnam credit markets.

The study's empirical findings are important for policymakers and credit providers to enhance farm households' access to credit for agriculture and to improve the operations of the three credit markets.

This is the first empirical study in Vietnam and one of few in other developing countries simultaneously exploring the determinants of credit demand in and interrelationships among all three credit markets to provide more comprehensive and accurate results.

The study aims to determine the socio-cultural variables that affect Turkey's tourism demand. The study proposes how important socio-cultural determinants as well as economic determinants affect tourism demand.

The study examined a sample of 19 countries sending the most visitors to Turkey between 1996 and 2017 by using panel unit root, panel cointegration tests and cointegration estimator methods. The data set consists of variables such as GDP per capita (lnGDPP), total population number (lnPOP), urbanization level, information and communication technology (lnICT), human development index (lnHDI), education level and death rates (lnDTH).

The findings from the analysis provide evidence that the variables in the models show the expected effects on tourism demand. The findings show that apart from economic variables, socio-cultural variables also have an important effect on tourism demand.

The socio-cultural models used in the study were created using variables that can be quantified. The study results are valid for the countries included in the analysis.

The findings of this study will contribute to policymakers in determining the market for Turkish tourism. The results show that the policies to be prepared by considering the socio-cultural characteristics of countries can increase the tourism demand.

The study is significant in that it focuses on socio-cultural variables rather than economic variables commonly used in the literature. The study is original in terms of both the study sample and the model and considers cross-sectional dependency (CD) and homogeneity.

The purpose of this paper is to empirically investigate determinants of social entrepreneurship.

The study uses a large-scale database covering Sweden’s 290 municipalities over the 1990-2014 period. The theoretical analysis is based on the demand and supply theory of entrepreneurship, while the empirical analysis is based on feasible generalized least-squares regression models.

The results indicate that the male proportion of the workforce, education level, the presence of entrepreneurial role models, wealth, unemployment rate, age, and urbanization positively influence the rate of social venture creation in a region.

This is one of few studies that empirically investigate determinants of social entrepreneurship, and the very first in the Swedish context. The study uses a large-scale database and advanced regression methods.

The purpose of this paper is to examine the likely determinants of the demand for official international reserves (hereafter reserves) for India and China in the long run in a basic buffer stock model. The paper also examines the role of domestic money market disequilibrium in the short-run demand for official reserves for both the countries in a dynamic synthesis model.

The study used quarterly data for the time period 1993:Q1–2015:Q4. The long-run model is being estimated by following the Frenkel–Jovanovic (1981) buffer stock model and includes the determinants such as transaction motive variable (GDP or Imports), opportunity cost variable (domestic interest rate), precautionary motive variable (volatility of reserves) and exchange rate. The study also examined the role of domestic money market disequilibrium in addition to the above variables in the short-run reserve demand model. The money market disequilibrium term is expected to be negative and significant in the short run. The study employed autoregressive distributed lag bound testing approach to co-integration and unrestricted error-correction model (UECM) approach developed by Pesaran et al. (2001) for estimating the long-run and short-run models, respectively.

The co-integration test suggests the existence of long-run relationship between international reserves and its determinants. In the long run, all the variables are statistically significant with expected sign, except domestic interest rate variable for China. It is also found that, the money market disequilibrium term in the short run is negative and significant which validates that an excessive money demand (supply) induces an inflow (outflow) of international reserves for both India and China with a lag of four quarters. The recursive residual tests (CUSUM and CUSUMSQ) confirm the stability of both long-run and short-run reserve demand models.

The findings and policy implications of this study may be useful for the policy makers of the similar emerging economies for designing money and currency policies.

This paper is a comparative study which systematically analyzed the reserve demand behavior of the two emerging economies India and China. The study integrates the domestic money market with the international reserve demand behavior for these two economies.

This paper empirically investigates the effect of economic policy uncertainty (EPU) on the UK money demand stability during the inter-war period (1920–1938). Both a narrow definition (M0) and a broad definition (M3) of money are investigated.

The empirical investigation is conducted by employing the autoregressive distributed lag (ARDL) bounds testing approach to cointegration.

Results presented indicate a stable demand for both definitions of money only when EPU is included as one of the determinants of demand function. The EPU imposes a negative effect on the demand for both definitions of money. The causality test results further indicate long- and short-term causality from the determinants (including EPU) to both forms of money demand.

Significant presence of the economic uncertainty weakens the effects of the monetary policy on the economy.

This is a historical economics paper. Given the turmoil and uncertainty associated with the inter-war period, an empirical investigation of UK money demand is an interesting exercise. This is the first such paper.

The purpose of this paper is to identify the driving forces that influence family Takaful demand in Malaysia. The paper examines various identified and available economics and socio‐demographic variables.

Using ordinary least square (OLS) and generalised method of moments (GMM) techniques, the paper investigates the significance of the identified economic and socio‐demographic factors in determining the consumption of family Takaful. The paper first examines a full model that combines all variables; second, a model that controls for product market factors; and finally, a model that controls for socio‐demographic factors. Following Anderson and Nevin, Haberman, Lenten and Rulli and Josa the paper further separates all models into linear and log‐linear demand functions.

The paper demonstrates that income, Islamic banking development, education, dependency ratio and Muslim population factors are positively related to Takaful demand. On the other hand, inflation, real interest rate, financial development and life expectancy appear to be the significant factors that adversely influence the total family Takaful consumption.

The major limitation of this paper is the small sample size. Therefore, future studies may expand the variables omitted in this study due to unavailability of data, which may be influential in explaining the family Takaful demand in Malaysia. Possible influential variables may include government social security expenditure, price of Takaful and level of competition within the Takaful and insurance industry. Research should also be conducted on the impact of the legal system and government policies on the demand for family Takaful in the country. Finally, the study focuses solely on the determinants of demand for family Takaful. Nevertheless, the supply‐side of the equation should not be neglected and should be incorporated in future studies.

It is obvious that there are very few studies that focus on the Malaysian market and indeed, none of them gives attention to the factors that influence demand for family Takaful. In this regard, this study contributes in filling the gaps in the scope and coverage of studies in similar area. While this study is expected to provide more understanding and awareness on the concept of Takaful and the factors that influence its demand, the authors hope that it would encourage more studies on various issues on the Takaful industry so as to help researchers to understand more aspects of this new emerging business.

Freshwater availability is reducing globally, due to increasing demand with population growth and climate change and is disproportionately impacting developing countries. This study aims to investigate the dynamics of water access and consumption across all regions of Thailand with various characteristics and water systems. Understanding the relationship between institutional, economic and climate variables in Thailand’s water management is important for water scarcity planning. Our paper fills a gap in the literature by examining the determinants of water consumption and exploring potential water management policies.

The authors empirically analyze the determinants of water consumption in Thailand, including institutional, economic and climate variables. The authors use data sets from both metropolitan and provincial waterworks authorities (PWA), as well as economic and meteorological macro-level data. The authors also adopt an auto-regressive distributed lag (ARDL) model and a Johansen cointegration test to estimate short- and long-run effects of the variables on water consumption.

The authors confirm a negative relationship between water pricing and consumption and verify a positive relationship between economic growth and water consumption across most regions of Thailand. Furthermore, the authors reveal a clear relationship between climate factors and water consumption and an inverse relationship between income and water consumption in metropolitan area. Findings indicate that authorities, especially PWA, should examine high water use in agriculture and develop regulations to ensure equitable water distribution to sustain economic growth. The authors recommend that water prices are increased within specific income thresholds to prevent impacting low-income families and to secure higher public revenue. In pursuit of environmental sustainability, the authors also recommend increasing public awareness of freshwater scarcity through education programs and investment in water-saving technologies. Differences among regions should be considered when developing water management strategies, which could be monitored through the respective water boards.

This study provides deep insight into the key factors that drive both water prices and water consumption in poor and rich areas. The unique nature of the research indicated that the paper will be of interest to policymakers and the academic community. The findings are relevant for water consumption management in Thailand and other developing countries with similar characteristics.

Tourism and natural hazards share a long pathway, owing to the fragile existential status of certain tourist destinations and voluntary and involuntary intervention of mankind in the business of natural environment. Over a course of history, numberless natural hazards prevailed and left behind some of the colossal and collateral damage on the physicality and virtuality of destinations. Volume of studies contended this direct and inverse association. Resultantly, impact measurement, ongoing imagery issues and future forecasting have been made to ease out the tourist destination from the consequences of natural hazards. Moreover, considering the inner fabric of tourism system (demand and supply side), natural hazards have been foreseen as unwanted yet necessary event to be emphasized and taken care of. Predominantly, in the existing global milieu of maximum human intervention in the climatic cycle and its outcomes in the form of global warming, climate concerns, natural hazards have been considered as inevitable and destined. Hence, it needs a comprehensive literature-based study to assess the risk factor of natural hazards on the tourist destinations. This study, in acquiescence to address this grey section, intends to explore the existing studies (drafted on the risks impacts of natural hazards on demand, supply and ancillary segments of tourism) and structure the findings thematically and orchestrate these findings in the existing body of literature. Implications from the findings have been presented.