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1 – 10 of over 1000This chapter looks at the way the forces of globalization and, contextual factors together have shaped the trajectory and outcomes of education in the South Asian region which…
Abstract
This chapter looks at the way the forces of globalization and, contextual factors together have shaped the trajectory and outcomes of education in the South Asian region which comprises India, Pakistan, Nepal, Bangladesh, Bhutan and Sri Lanka. External influence on the education of this region is not at all a recent phenomenon. The arrival of rulers from Central Asia, the spread of Christianity and Islam through trade connections during the first millennium and finally, the British Colonialism influenced the nature of education in the region historically. The social context, for example, the caste system or discriminatory gender norms also determined the access to education and the ways through which it developed over time.
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The purpose of this paper is to test the dynamic linkages among the stock markets of four South Asian countries (India, Pakistan, Bangladesh and Sri Lanka) in the backdrop of…
Abstract
Purpose
The purpose of this paper is to test the dynamic linkages among the stock markets of four South Asian countries (India, Pakistan, Bangladesh and Sri Lanka) in the backdrop of trade interdependency.
Design/methodology/approach
Listed indices are used to serve the proxy of stock markets of four countries for the period: January 2000–December 2018. The study uses the autoregressive distributed lag model and Granger causality techniques in multivariate frameworks while focusing on intraregional trade as an exogenous factor for testing the long- and short-run causality in the given data set, hence raising the quality of statistical inference.
Findings
The results highlight that India and Pakistan are net exporters to the South Asian region, while Bangladesh and Sri Lanka are net importers from the region. While testing the stock markets linkages, the expanded intraregional trade volumes (exports plus imports) have occurred with the significant cointegration of stock markets of India and Pakistan with the other stock markets in the long run. In the short run, the stock markets of India, Pakistan and Sri Lanka report bidirectional causality without having significant spillovers of intraregional trade on the stock prices.
Research limitations/implications
The study relies on the multivariate techniques with stock prices and regional trade share as the exogenous variables. Further the regulatory, political and economic conditions of sample countries are fundamentally different which in turn affect their degree of trade interdependency and integration between the stock markets.
Practical implications
Nonsignificant cointegration of the stock markets of Sri Lanka and Bangladesh highlights the possibility of portfolio diversification in the long run, while the significant bidirectional causalities between the stock markets highlight the lesser degree of portfolio diversifications in the short run.
Originality/value
Pioneer efforts are made to examine the dynamic linkages between the South Asian stock markets while focusing on regional trade interdependency. The results provide new insight in the dynamics of stock returns of South Asian stock markets in the backdrop of intraregional trade.
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The introduction of the 22 member countries of the 4+10+2+6 model of the Asian economy is the immediate task. Japan, Korea, China, India, Indonesia, the Philippines, Brunei…
Abstract
The introduction of the 22 member countries of the 4+10+2+6 model of the Asian economy is the immediate task. Japan, Korea, China, India, Indonesia, the Philippines, Brunei Darussalam, Malaysia, Singapore, Thailand, Vietnam, Cambodia, Laos, and Myanmar constitute the now-famous 4+10 model. Following the principle of inclusion, Mongolia, Chinese Taipei, Bangladesh, Bhutan, Nepal, Pakistan, the Maldives, and Sri Lanka, as they belong to the regional map of the continent of Asia, are the eight remaining member countries (see Chapter 1). An overview of Asia's 22 member continental economy the AE-22, with its 3.6 billion people (2006) who have made the region of Asia their home in a land area of 20.5 million km2 should be welcome. To put these figures in perspective, the AE-22 comprises only 13.7 percent of the world's land area, but is home to over half the world's population. Tables 2.1–2.4, presented below, illustrate the various figures relating to population, land area, GDP, and GDP per capita of the member nations of the AE-22.
Isuru Manawadu, Anna Che Azmi and Aslam Mohamed
The purpose of this paper is to examine the moderating effect of IFRS adoption on the relationship between foreign direct investment (FDI) and conditional accounting conservatism…
Abstract
Purpose
The purpose of this paper is to examine the moderating effect of IFRS adoption on the relationship between foreign direct investment (FDI) and conditional accounting conservatism in South Asia.
Design/methodology/approach
This study uses the model developed by Basu (1997) and Ball and Shivakumar (2005) to examine the moderating effect of IFRS adoption on the relationship between FDI and conditional accounting conservatism. Data are tested by running panel generalized method of moments–2SLS estimation for the period of 2006–2015.
Findings
A moderating effect of IFRS adoption was found on the relationship between FDI and conditional accounting conservatism in South Asia.
Research limitations/implications
This study contributes to the literature by adding new evidence on the moderating effect of IFRS adoption on the relationship between FDI and conditional accounting conservatism.
Originality/value
The relationship between FDI and conditional accounting conservatism was moderated by IFRS adoption in South Asia. This finding provides new evidence to the literature as well as for the policy makers to consider on IFRS adoption.
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Several countries in South Asia face the challenge of ineffective educational reforms manifest in increasing rates of school failure and poor learning outcomes after embarking…
Abstract
Several countries in South Asia face the challenge of ineffective educational reforms manifest in increasing rates of school failure and poor learning outcomes after embarking along education for all. Critical voices from the South have questioned the relevance and appropriateness of ideas that have shaped these reforms. Narratives from the region tell us that importation of educational concepts and policy orientations have led to the dismantling of existing structures and processes of education, creating new forms of inequities and disadvantage. The sheer scale and diversity of populations within the region poses formidable challenges and opportunities for contextual innovation. The construction of national imaginaries in the diverse societies of South Asia has the potential to provide new discourses to educational reform; going beyond the abstract goals set by disconnected international experts and the institutional processes they represent. This chapter deliberates on the need to establish a persuasive critical perspective that can influence and shape the trajectories of policy and practice, research and theorization, within the field of comparative education in South Asia, and the global south.
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In the above example, India is more productive in both, chemicals as well as ceramics. However, while Bangladesh is thrice as productive domestically in respect to ceramics as…
Abstract
In the above example, India is more productive in both, chemicals as well as ceramics. However, while Bangladesh is thrice as productive domestically in respect to ceramics as compared to chemicals, India is only twice as productive in the same product relative to chemicals. It will be worthwhile for Bangladesh to specialise in the production of ceramics in which it has a comparative advantage and for India to specialise in the production of chemicals. Both countries stand to gain through trade provided that for each unit of chemical Bangladesh imports from India it has to part with less than three units of ceramics to India, while India, too, gains if for each unit of chemical it sells Bangladesh it can get more than two units of ceramics. Thus, when trade takes place, it benefits both parties when the ratio of exchange for each unit of chemicals varies between >2 and <3 units of ceramics. The exact rate of exchange would depend on relative bargaining power of the traders. A value nearer to 3 will indicate larger bargaining power for the Indian exporter, and a value nearer to 2 would indicate greater bargaining power for the Bangladeshi exporter. In general, if the relative gains are higher the lower the elasticity of demand for the product and the greater the value addition to the product. Thus, manufactured products generally fetch better exchange as compared to primary products.
The paper investigates the dynamic relationship among the stock markets of South Asian Association of Regional Cooperation (SAARC) countries during the COVID-19 pandemic.
Abstract
Purpose
The paper investigates the dynamic relationship among the stock markets of South Asian Association of Regional Cooperation (SAARC) countries during the COVID-19 pandemic.
Design/methodology/approach
Daily time-series data of four SAARC countries: India, Bangladesh, Pakistan, and Sri Lanka, from February 13th, 2013 to March 31st, 2021 are used. The study considers stock prices prior to the blowout of COVID-19 and during the onset of the pandemic. The novel estimation procedure of the autoregressive distributed lag model is used while the results are also confirmed by post-estimation techniques.
Findings
The study confirms that the COVID-19 contagion has adversely influenced the stock returns of SAARC countries. The findings signify that the pattern of cointegration has significantly different regularities in the pattern of causality in the long run and short run during the COVID-19 crisis. Overall, the study revealed that the COVID-19 pandemic has weakened the dynamic connection among the stock markets of SAARC countries.
Practical implications
To dampen uncertainties generated by the COVID-19 pandemic, the authorities and central banks should be equipped with efficient strategies and guidelines to cope with the crisis created by the pandemic. Further, governments should focus on assuaging the panic faced by investors and enhancing the confidence of domestic as well as foreign investors. Further, the weakened integration of financial markets during the crisis offers opportunities for speculative and arbitrage gains for investors.
Originality/value
The research work is an innovative effort to analyze the impression led by COVID-19 on the SAARC stock markets integration.
The purpose of this paper is to investigate the macroeconomic determinants of foreign direct investment (FDI) for the top five South Asian economies, namely, Bangladesh, India…
Abstract
Purpose
The purpose of this paper is to investigate the macroeconomic determinants of foreign direct investment (FDI) for the top five South Asian economies, namely, Bangladesh, India, Pakistan, Sri Lanka, and Nepal, and to examine whether these factors are the same for each.
Design/methodology/approach
This study employs fully modified ordinary least squares and two-stage least squares estimation methods.
Findings
This study shows that South Asian economies have a number of FDI determinants in common. For example, market size and human capital are the two most common factors attracting FDI in each country (except for Nepal, which revealed a negative correlation between FDI and market size). Other factors, such as infrastructure, domestic investment, lending rates, exchange rates, inflation, financial stability/crisis, and stock turnover entered into regression with both positive and negative signs, thereby indicating that the underlying theories on FDI do not provide a clear prediction of the direction of the effect of a particular variable on FDI.
Research limitations/implications
This paper studied the effects of demand-side factors on FDI. A comparative study of the supply-side factors may add further knowledge.
Practical implications
This paper provides evidence to show that the determinants of FDI are indeed country-specific. Thus, to design a suitable FDI policy, it would not be wise to solely rely on other economies’ FDI experiences.
Originality/value
This paper provides updated evidence on factors that are essential to promoting or deterring FDI in South Asian economies.
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Mohammad Rifat Rahman, Md. Mufidur Rahman and Roksana Akter
This study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research…
Abstract
Purpose
This study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research underscores the significant role of renewable energy plays in stimulating economic growth and mitigating unemployment, offering crucial policy insights for sustainable growth in South Asia.
Design/methodology/approach
Utilizing the autoregressive distributive lag (ARDL) framework and Toda Yamamoto causality through the vector autoregressive (VAR) approach, the study analyzes the long-term and short-term impacts of these variables from 1990 to 2019.
Findings
This study reveals a significant co-integration among renewable energy consumption, unemployment and GDP growth in selected South Asian countries. The long-term estimation shows renewable energy consumption influences negatively economic progression in Bangladesh, with no notable correlation with unemployment. In contrast, Sri Lanka demonstrates an optimal relationship among all the variables. Short-run assessments reveal a significant positive relationship between renewable energy consumption and economic growth in India, while an inverse relationship is evident in Pakistan. Moreover, the relationship between unemployment and economic progression, the result shows a negative and significant relationship in India and Sri Lanka.
Research limitations/implications
The study emphasizes the need for policy development concerning renewable energy development, unemployment reduction and sustainable economic growth in South Asia. While limitations exist, future research can expand upon this work by incorporating varied data, additional countries or alternative modeling techniques.
Originality/value
This research offers a unique exploration into the multidimensional impacts of renewable energy consumption, unemployment and economic growth in the South Asian context, an area previously unexplored in such depth.
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