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1 – 10 of 676This study investigates the impact of financial development, measured by the ratio of broad money to gross domestic products, on de jure central bank (CB) independence (CBI) in 17…
Abstract
Purpose
This study investigates the impact of financial development, measured by the ratio of broad money to gross domestic products, on de jure central bank (CB) independence (CBI) in 17 countries in the Asia–Pacific region from 1995 to 2014.
Design/methodology/approach
This study uses the feasible generalized least squares (FGLS) approach, which is suitable since the CBI equation suffers from contemporaneous correlation, serial correlation and heteroscedasticity.
Findings
The FGLS results suggest a positive association between CBI and financial market development (FMD). This relationship is confirmed when estimating different indicators of de jure CBI and adopting the panel-corrected standard error estimate. However, the statistical significance of FMD is not supported when the ratio of domestic credit to the private sector to GDP is measured.
Research limitations/implications
It is significant to have a developed financial system to foster a better CBI. Moreover, it is important to measure the influence of financial market players on the operations of a CB.
Originality/value
The financial market in the Asia–Pacific has improved over the years. Hence, the results show the determinants of CBI in the Asia–Pacific, especially the role of FMD.
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Yueh-Chun Huang, Soo Jung Park and Ru-Jer Wang
This study analyzes the advantages and disadvantages of the electoral mechanism of local education superintendents in South Korea, draws conclusions and makes suggestions for…
Abstract
Purpose
This study analyzes the advantages and disadvantages of the electoral mechanism of local education superintendents in South Korea, draws conclusions and makes suggestions for future reforms.
Design/methodology/approach
The research method of this study included document analysis and interviews. Document analysis was used to collect and analyze the relevant official documents of education superintendents across countries. Semi-structured interviews were conducted with four professors and two superintendents.
Findings
The results of the interviews indicate the following: 1) Korean stakeholders are getting more familiar with the direct election of superintendents, as the interviews indicate a more mature direct election system due to previous experience and public officials taking direct election into account; 2) The direct election of superintendents has advantages and disadvantages. The advantages include increasing the participation of the general public in education, and the disadvantages include conflict between the central government and local superintendents belonging to different political parties. However, the current system is likely to be retained; 3) The superintendent systems in various countries differ due to their respective traditions and social contexts. However, the authors can always learn lessons and implications from foreign countries if the authors compare their education systems with their foreign counterparts.
Research limitations/implications
As far research limitations, although this was a small study, it shows the importance of collecting multiple stakeholders' views on the direct election of education superintendents as a basis for future reform of education management.
Practical implications
The Korean system for electing superintendents provides a good model for other countries reflecting on the educational autonomy and accountabilities of their own systems.
Social implications
The direct election of superintendents provides an example of professionalism, independence and political neutrality in education that other countries can learn from. The separation of general and educational administration in Korea through direct elections protects educational activities from political influence.
Originality/value
In terms of originality/value, this study adds a new perspective to the debate about whether the general public should directly elect education superintendents, as well as to the literature on local education management.
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Iftekhar Ahmed and Tanjina Khan
Fresh out of the two-century-old British legacy, Bangladesh, formerly known as East Pakistan from 1947 to 1971, was searching for a post-colonial architectural style. Colonial…
Abstract
Purpose
Fresh out of the two-century-old British legacy, Bangladesh, formerly known as East Pakistan from 1947 to 1971, was searching for a post-colonial architectural style. Colonial architecture in the region in general often imposed imported European elements, ignoring the preceding legacies of the Sultanate and the Mughals. The critical challenge was to find a balance between the prevailing high modernism in architecture and the local vernacular and climatic forces. The Pakistani government invited international architects to fill the gap left by a non-existent local architectural industry. Unfortunately, their work has rarely been properly analyzed. With selected case studies, this paper analyzes their work in an attempt to explore their contribution to creating a national architectural identity.
Design/methodology/approach
This study uses a case study approach with selected architectural projects from the period. It uses research tools such as systematic analysis of drawings, volumes and photographs and archival research.
Findings
The international architects took inspiration from the strong vernacular and climatic forces of the region. The resultant expressions of the two-decade-long search in their combined body of work are some of the finest examples of vernacular and climate-responsive architecture in the region. They transcended the regular international style and became context-specific and unique. The quest for East Pakistan's post-colonial architectural identity was partially met by the newly found identity through vernacular and climate-responsive adaptation in architecture.
Originality/value
This study explores how a unified vernacular and climate-responsive adaptations potentially shaped the post-colonial architectural identity of the region. No prior study exists on this issue for the time period.
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Hacer Simay Karaalp-Orhan, Nurgül Evcim and Fatih Deyneli
The aim of this study is to analyze which socioeconomic factors (economic, demographic, and political) most commonly affect the social expenditure of the European Union (EU) and…
Abstract
Purpose
The aim of this study is to analyze which socioeconomic factors (economic, demographic, and political) most commonly affect the social expenditure of the European Union (EU) and Organization for Economic Co-operation and Development (OECD) countries.
Design/methodology/approach
A panel data fixed-effects model is employed for 34 OECD and 23 EU countries between 2000 and 2020.
Findings
Results indicate that, in all country groups, economic factors have the most significant influence on social expenditures, with income being the primary determinant, particularly in EU countries. The negative impacts of unemployment and inflation underscore the importance of counter-cyclical measures adopted by countries to maintain stability in their social expenditures. The most influential demographic factor is found as the old-age-dependency ratio. While the rule of law affects social expenditure positively, government effectiveness and female labor force participation affect it negatively. The positive effect of Konjunkturforschungsstelle (KOF) indexes shows the globalization effect, which can be attributable to the compensation hypothesis.
Practical implications
Governments enforce inclusive and sustainable policies to boost economic activities and GDP, thus combating inflation and unemployment and regulating the labor market and socioeconomic problems about aging populations and women’s economic participation to control social expenditures. The rule of law and institutional quality will also boost economic growth.
Originality/value
This study focuses on the effects of social expenditures in a broader view within the framework of the three main factors (economic, demographic, political) and attempts to determine the key factors that account for the differences in social expenditure between the OECD and EU countries.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0384
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Content analysis was used to measure corporate social responsibility (CSR) reporting. The ordinary least squares (OLS) regressions with robust standard errors are used to examine…
Abstract
Purpose
Content analysis was used to measure corporate social responsibility (CSR) reporting. The ordinary least squares (OLS) regressions with robust standard errors are used to examine the relationships for a sample of 168 firm-year observations listed on the Palestine Exchange during 2018–2021. A logistic regression is also utilized as an alternative measurement for CSR quantity disclosure and to ensure the robustness of the author’s main findings.
Design/methodology/approach
Based on 168 observations listed on the Palestine Exchange (PEX) between 2018 and 2021, this study examines the impact of women's representation on the CSR reporting of Palestinian firms' boards. Moreover, the moderating effect of ownership concentration on the relationship between BGD and CSR reporting is examined. In order to test the hypotheses, the author’s employ OLS regressions with robust standard errors. A logistic regression is also utilized as an alternative measurement for CSR quantity disclosure and to ensure the robustness of the author’s main findings.
Findings
The results reveal that Palestinian companies with more women on their boards have higher CSR practices and disclosure levels. In addition to the validity of agency, stakeholder and legitimacy theories, the findings show the relevance of gender socialization and critical mass theories in explaining the favorable influence of women's presentation on boards in promoting best practices among Palestinian firms, such as CSR disclosure.
Research limitations/implications
The study contributes to the limited literature in the MENA and Arab region countries by examining the influence of BGD on CSR reporting in Palestine, an emerging economy characterized by highly political and economic instability. The study offers a novel contribution by examining the impact of BGD, on not only the CSR reporting quantity but also the reporting quality. However, the generalizability of the study is limited due to the small sample size.
Practical implications
The findings of the study may bring the issues of CSR disclosure and female representation on board of directors to the attention of Palestinian firms' board of directors and managers, investors, professional associations, policymakers and regulators. While listed firms are only required to provide general information that falls under the scope of CSR in their annual reports under the Palestinian code of corporate governance, women representation on boards of directors is not addressed.
Originality/value
This study adds to the very limited literature on the role of the BGD in promoting CSR reporting in the Middle Eastern and Arabic markets in general, and in the Palestinian context in particular. This paper not only investigates but also seeks to theorize this role.
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The unsustainable public debt of most African economies adversely affects their economic growth and stability. This study aims to explore the influence of cross-country indicators…
Abstract
Purpose
The unsustainable public debt of most African economies adversely affects their economic growth and stability. This study aims to explore the influence of cross-country indicators of governance from African countries on public debt accumulation.
Design/methodology/approach
The study deployed a quantitative research design technique. Secondary data was used in this study. The frequency of the data is annual, and it is available from 1996 to 2022 for 48 countries in Africa. The study deployed the system generalized method of moments for the estimation.
Findings
The study finds that countries with high regulatory quality standards, control corruption and ensure effective governance accumulate less government debt while countries that abide by the rule of law instead accumulate more government debt. The study also finds that economic growth and government revenue reduce government gross debt while government expenditure and investments increase public debt.
Research limitations/implications
Due to data unavailability, other factors which are likely to influence government debt accumulation were not included in the study as control variables. This is the limitation of the study.
Social implications
African governments should strive to maintain high regulatory quality standards through the formulation and implementation of sound policies and regulations that permit and promote private sector development, and ensure quality and accountability of public and civil services. Governments are also urged to control corruption and enact good laws so that the enforcement of these laws will not worsen the risk of becoming debt-distressed.
Originality/value
Recent studies on governance and public debt were focused on the Arabian Gulf countries, countries of the Middle East and North Africa (MENA) region and a combination of high and low-income countries. This study scrutinizes exclusively the effects of the quality of governance indicators on public debt accumulation, in the context of Africa.
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Shiwangi Singh, Sanjay Dhir, Vellupillai Mukunda Das and Anuj Sharma
While extant literature explores the influence of institutions on the national innovation system (NIS), most research has either focused on specific institutional aspects or…
Abstract
Purpose
While extant literature explores the influence of institutions on the national innovation system (NIS), most research has either focused on specific institutional aspects or treated institutions as a unified entity. This study aims to examine the effect of various institutional factors on a country’s NIS.
Design/methodology/approach
The conceptual model was empirically validated using regression analysis. The study sample comprised a total of 84 countries.
Findings
This study identifies and empirically validates a comprehensive set of institutional factors. It also highlights the significant institutional factors (including political stability, government effectiveness, ease of resolving insolvency and the rule of law) that can help improve a country’s NIS.
Originality/value
The research provides practical implications for organizations and policymakers seeking to understand and foster an innovative culture within the NIS. Policymakers are encouraged to develop a nurturing environment within the NIS by focusing on significant institutional factors. Organizations are encouraged to closely monitor developments in the NIS of a country to make informed strategic decisions at the business, corporate and international levels.
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The role institutional quality plays in the rising pace of globalization and its associated health effects remain unclear in the literature. This study, therefore, empirically…
Abstract
Purpose
The role institutional quality plays in the rising pace of globalization and its associated health effects remain unclear in the literature. This study, therefore, empirically examined the moderating role of institutional quality on the globalization-health outcomes nexus in Nigeria, a country with a relatively weak health system.
Design/methodology/approach
The study employed Dynamic Ordinary Least Square (DOLS) to estimate the empirical models. The Fully Modified Ordinary Least Square (FMOLS) and Canonical Cointegration Regression (CCR) techniques were thereafter used to check the consistency and robustness of our results. Annual time-series data spanning from 1984 to 2020 were sourced from the World Development Indicator, KOF Globalization Index, International Countries Risk Guide (ICRG) and Central Bank of Nigeria Statistical Bulletin databases.
Findings
The results revealed that overall globalization and its three dimensional components (economic, political and social globalization) adversely affect life expectancy in their separate models, but increased life expectancy significantly after their interaction with government effectiveness. Also, real GDP, health aids, government recurrent health expenditure are other determinants of life expectancy in Nigeria.
Practical implications
The Nigerian government should put in place appropriate mechanisms directed toward building and sustaining government effectiveness. This will help mitigate the negative effects of globalization and utilize its net positive benefits to improve life expectancy in Nigeria.
Originality/value
The research is the first to comprehensively examine the moderating impact of institutional quality on the nexus between overall globalization as well as its three dimensional components (economic, political and social) on health outcomes in Nigeria.
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The paper aims to investigate the relationship between institutions and economic growth in developing countries, considering the role of financial inclusion, education spending…
Abstract
Purpose
The paper aims to investigate the relationship between institutions and economic growth in developing countries, considering the role of financial inclusion, education spending and military spending.
Design/methodology/approach
The study employs dynamic panel analysis, specifically two-step system generalized method of moments (GMM), on a sample of 61 developing countries over the period 2009–2020.
Findings
The results confirm that weak institutional quality, weak financial inclusion and increased military spending are barriers to economic growth, conversely, increased spending on education and gross capital formation contribute to economic growth in developing countries. Regarding the specific institutional factor, we find that corruption, ineffective government, voice and accountability and weak rule of law contribute negatively to growth.
Practical implications
The study calls for strengthening institutions so that the financial system supports economic growth and suggests increasing spending on education to improve access to and the quality of human capital, which is an important determinant of economic growth.
Originality/value
The study contributes to scarce literature by empirically analyzing the relationship between institutions and economic growth by considering the role of financial inclusion, public spending on education and military spending, factors that have been ignored in previous studies. In addition, the study identifies the institutional dimension that contributes to reduced economic growth in developing countries.
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The present study aims to examine the moderating impact of governance quality on the tourism poverty nexus using a panel of six South Asian Association for Regional Cooperation…
Abstract
Purpose
The present study aims to examine the moderating impact of governance quality on the tourism poverty nexus using a panel of six South Asian Association for Regional Cooperation (SAARC) countries during the period 2002 to 2019.
Design/methodology/approach
For the soundness of the results, fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) econometric models were applied to determine the long-run relationship.
Findings
The findings confirmed the positive and significant impact of tourism development (international tourism arrival) and governance quality (effectiveness of governmental services) on poverty (per capita household consumption) reduction. Interestingly results confirm that governance quality and tourism development have complementary impacts on poverty reduction.
Originality/value
The present study has twofold contributions; First, despite the high potential of SAARC tourism, research remains limited in studies examining the role of tourism and governance quality on poverty reduction within the SAARC region. As a result, the present paper presents critical insights into the impact of tourism inflow and governance quality on poverty reduction in South Asian countries. Second, to the best of the author's knowledge, this is the first attempt to conduct an econometric analysis to examine the role of governance quality on the relationship between tourism inflow and poverty reduction in SAARC countries.