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This paper empirically examines the relationship between foreign direct investment, financial development and other macroeconomic variables like trade openness, domestic investment and labour force and that of GDP per capita in select South Asian countries, i.e. India, Sri Lanka and Pakistan for the period 1990–2018.

The study uses various econometrics tools such as Pedroni, Kao and Johansen–Fisher panel cointegration test, Panel FMOLS and DOLS and Granger causality in order to analyse the long-run and short-run dynamics among the variables under consideration.

The results of the panel data estimation techniques employed imply that there is a short-run causality running from GDP per capita to FDI and financial development, and results from FMOLS and DOLS indicate that FDI and financial development have positive impacts on GDP per capita in the countries under consideration.

In this paper, we use a dynamic macroeconomic modelling framework to examine the effect of FDI and financial development on per capita income in three major south Asian economies, which are categorized as three Non-Least Developed Contracting States under the South Asian Free Trade Area (SAFTA), 2006, established with an aim to facilitate free trade among them. Considering the diversity of the level of growth experienced by these economies, the study uses appropriate panel regression techniques. Therefore, in addition to proper formulation of policies directed towards scaling up of export and import levels, the respective authorities should also take care that the political stability and institutional quality are maintained.

The purpose of this paper is to examine whether remittance inflow stimulate electricity consumption in India with other macroeconomic variables such as FDI, trade openness and urbanization in energy demand function from 1975–2017.

We have applied structural break and co-integration tests for stationarity and long-run relationship between the variables. The Toda–Yamamatoo causality is employed for investigation of causal relationship between the variables, and robustness of causality linkages is also tested by applying innovative accounting approach (IAA).

Our empirical analysis shows there is presence of long-run relationship among the variables. We find that remittance inflows stimulate electricity consumption in India. Industrialization is positively linked with electricity demand. However, trade openness declines the electricity consumption, but urbanization increases it. Furthermore, remittances inflows cause electricity consumption.

On the basis of findings, we conclude that due to positive impacts of remittances inflows, trade openness and urbanization, policymakers in the Indian economy need to be careful while designing sustainable environment policy. Otherwise, any sustainable environment policy in the name of protecting green environment will hamper the growth of remittance inflows, urbanization and FDI. If this exists, it may be argued that sustainable growth in India will not be possible in the face of sustainable environment policy.

The purpose of this paper is to empirically examine the effectiveness of foreign aid in improving economic growth prospects in the South Asian region from 1996 to 2017.

A sample of eight South Asian countries for the period 1996–2017 is being considered for this study. This study uses various econometrics tools such as Pedroni and Johansen–Fisher panel cointegration test, panel fully modified ordinary least square and panel dynamic ordinary least square (PDOLS) to ascertain the long-run and short-run dynamics among the variables under consideration.

The empirical results found that long-run, as well as the short-run relationship, exist among foreign aid, economic growth, investment, financial deepening, price stability and trade openness of the South Asian economies. The authors also found unidirectional causality running from foreign aid to economic growth. Both the long-run relationship as well as short-run causality between foreign aid and economic growth is unequivocally positive.

This study uses a dynamic macroeconomic modeling framework to assess the impact of aid flows on economic growth in South Asian economies. Taking into account the diversity of level of growth experienced by the eight countries in the Asian region, this study uses an appropriate regression technique, i.e. PDOLS whose results are robust. Therefore, the policymakers in these countries are well-advised to implement suitable policy measures to ensure optimum utilization of foreign capital resources garnered by way of receipt of foreign aid and build on for stronger future economic growth.

This paper analyzes the direct effect of financial development and the mediating impact of financial development through foreign direct investment (FDI), foreign aid and trade on economic growth for all Asian countries.

A fixed-effect model with Driscoll–Kraay panel corrected estimators was employed to find the direct and mediating impact of financial developments on growth for all 47 Asian economies from 1980 to 2020. The bootstrapped panel-quantile regression (BPQR) model is used to check how this effect varies for different income groups of countries.

The results demonstrated that financial development positively impacts countries' economic growth. The interaction effect of financial development with FDI, foreign aid and foreign trade negatively impacts economic growth. The BPQR results showed that FDI and foreign aid help in the growth of lower quantile economies; however, the impact is negative for middle- and upper-income countries. Trade impacts growth positively for all the quantiles of economies.

The results suggest that the Asian economies must continue to provide thrust on the financial development of their own countries to achieve better growth. It also implied that the dependence on external finance is good for low-income countries and not advisable for middle- and upper-income countries.

To the best of the authors’ knowledge, the current study is the first to provide empirical evidence on analyzing both the direct and interaction effect of financial development on economic growth by considering all the Asian economies.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2022-0587

The purpose of this paper is to empirically investigate whether inward remittance leads to export performance in selected South Asian economies over the time period of 1993–2017.

The stationarity of the variables is checked by Levin, Lin and Chu t, Breitung t-stat., Im, Pesaran and Shin W-stat., ADF–Fisher and Philips–Perron–Fisher panel unit root tests. Panel Granger Causality is used to verify the short-run causality. Pedroni’s, Kao’s and Johansen–Fisher panel cointegration approaches are employed to examine the long-run relationship among the variables. Panel VECM is used to confirm the existence of a long-run relationship among the variables.

Panels FMOLS and DOLS show that remittance inflows have negatively impacted the export performance of the selected South Asian countries during the study period. Granger Causality and VECM test confirm the existence of short-run and long-run relationship among the variables. The authors conclude that inward remittance is affecting export performance negatively during the study period. Furthermore, inward remittances occupy a major source of development finance for selected South Asian countries.

The study uses a dynamic macroeconomic modeling framework to assess the inward remittance on export performance in South Asian countries. Taking into account the diversity of the level of growth experienced by the five countries in the Asian region, the study uses an appropriate regression technique, i.e. panel dynamic OLS whose results are robust. As exports are a proven way to further economic growth, this study fills a vital gap in the literature by ascertaining the degree of impact of remittances in influencing outbound exports from the South Asian region.

The purpose of this paper is to empirically examine the effectiveness of foreign aid in improving economic growth prospects in the sub-Saharan Africa (SSA) region from 1993 to 2017.

A sample of 45 SSA countries for the period 1993–2017 is considered for this study. The study uses various econometrics tools such as Pedroni and Kao’s cointegration test, Johansen-Fisher Panel cointegration test, FMOLS and PDOLS in order to ascertain the long-run and short-run dynamics among the variables under consideration.

The empirical results find that long-run and short-run relationships exist among foreign aid, economic growth, investment, financial deepening, price stability and trade openness of the SSA economies. The authors also find unidirectional causality running from foreign aid to economic growth. The policymakers in these countries are well-advised to implement suitable policy measures to build on the growth momentum created by foreign aid inflows.

The study uses a dynamic macroeconomic modeling framework to assess the impact of aid flows on economic growth in the SSA region. Taking into account the diversity of level of growth experienced by the 45 countries in the region, the study uses an appropriate regression technique, i.e., panel dynamic OLS whose results are robust. The finding is also supported by the Granger-causality test and robust cointegration techniques.

Since the last decade, debates regarding the efficiency and effectiveness of the forms of transfer, i.e. in the form of in-kind or cash transfers, have been gaining momentum. This paper aims to explore the preferences revealed by the beneficiaries, the role of contextual conditions in moulding these preferences, factors associated with the transfer scheme that defines the preferences and the rationale behind such responses.

The study conducted involves primary data collected from an Indian state, Odisha. 308 beneficiaries of the Targeted Public Distribution System (TPDS) were interviewed concerning specific objectives in a rural district (Mayurbhanj) and another highly urbanised district (Khordha).

The comparative results show that the strength of the contextual conditions significantly influences the preferences of the beneficiaries in the rural district as compared to the effect on the beneficiaries of the urban district. Education seems to have an insignificant impact in rural areas. However, income and standard of living have positive significant effects on shaping the preferences for cash or in-kind transfers.

Examining the strength of the contextual conditions and emphasising beneficiaries' perspectives would stimulate a better understanding of the implementation of the proposed quasi-Universal Basic Income. The study would hence, be instrumental in dealing with the transition towards cash transfers in the Indian context where the co-responsibility of both stakeholders, the government and the beneficiaries, should be given equal weightage.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2023-0158

This study aims to examine the effects of climate change and agricultural technologies on crop production in Vietnam for the period 1990–2018.

Several econometric techniques – such as the augmented Dickey–Fuller, Phillips–Perron, the autoregressive distributed lag (ARDL) bounds test, variance decomposition method (VDM) and impulse response function (IRF) are used for the empirical analysis.

The results of the ARDL bounds test confirm the significant dynamic relationship among the variables under consideration, with a significance level of 1%. The primary findings indicate that the average annual temperature exerts a negative influence on crop yield, both in the short term and in the long term. The utilization of fertilizer has been found to augment crop productivity, whereas the application of pesticides has demonstrated the potential to raise crop production in the short term. Moreover, both the expansion of cultivated land and the utilization of energy resources have played significant roles in enhancing agricultural output across both in the short term and in the long term. Furthermore, the robustness outcomes also validate the statistical importance of the factors examined in the context of Vietnam.

This study provides persuasive evidence for policymakers to emphasize advancements in intensive agriculture as a means to mitigate the impacts of climate change. In the research, the authors use average annual temperature as a surrogate measure for climate change, while using fertilizer and pesticide usage as surrogate indicators for agricultural technologies. Future research can concentrate on the impact of ICT, climate change (specifically pertaining to maximum temperature, minimum temperature and precipitation), and agricultural technological improvements that have an impact on cereal production.

To the best of the authors’ knowledge, this study is the first to examine how climate change and technology effect crop output in Vietnam from 1990 to 2018. Various econometrics tools, such as ARDL modeling, VDM and IRF, are used for estimation.

The purpose of this paper is to empirically investigate whether market size and its growth rate, along with financial development indicators, affect human capital in selected south Asian economies over the time period from 1984 to 2015.

The stationarity of the variables are checked by LLC, IPS, ADF and Phillips–Perron panel unit-root tests. Pedroni’s and Kao’s panel co-integration approaches are employed to examine the long-run relationship among the variables. To estimate the coefficients of co-integrating vectors, both PDOLS and FMOLS techniques are used. The short-term and long-run causalities are examined by panel granger causality.

From the empirical results, the authors found that both the market size and financial development play an important role in the development of human capital in the selected south Asian economies. It is evident that a large market size and faster degree of financial development in the selected countries result in better human capital formation.

There are a number of studies on the impact of financial development indicators on human capital and economic growth, but there is hardly any study that considers market size and its growth rate along with financial development indicators with human capital in the context of south Asian economies. The study fills this research gap.

The purpose of this paper is to investigate the dynamic relationship between 19 pandemic and government actions, such as governmental response index and economic support packages.

The authors use a panel dataset of 10 American and Latin countries for the period spanning from January 2020 to April 2021 to analyze the effect of government actions on stock market returns. The authors provide robust test results that improve the understanding of the impact of the pandemic on stock market indices through the break-up structure method and the new measure of Covid-19 extracted from Narayan et al. (2021) study.

Empirical results show the harmful effect of the corona virus on stock prices, hence the risk adverse behavior of investors. On the other hand, the quantitative approach reveals that the positive impact of government actions is degraded during Covid-19.

This article highlight that government actions may be effective in reducing new infections but could generate perverse economic impact through increasing uncertainty. The authors conclude that the adjustment of macroeconomic factors and the integration of financial news improve the forecasting performance of the model based on health news.