Search results
1 – 10 of 120
This study aims to examine the effects of industrial production (IP), inflation and investment on suicide mortality in Turkey as a developing country over the 1988–2018 period.
Abstract
Purpose
This study aims to examine the effects of industrial production (IP), inflation and investment on suicide mortality in Turkey as a developing country over the 1988–2018 period.
Design/methodology/approach
Fourier cointegration test and dynamic ordinary least square regression were used in this study.
Findings
IP and investment have a statistically significant and negative impact on suicide mortality, whereas inflation has a statistically significant and positive effect on suicide mortality.
Research limitations/implications
The results of this study have important implications for policymakers and potentially the creation and implementation of suicide prevention policies. Not only do investment promotion, IP and disinflation policies in developing countries have a significant effect on economic growth but they also have a substantial impact on mental health.
Originality/value
Although previous studies have investigated the impact of economic growth and unemployment on suicide deaths in Turkey, no research has probed the effect of economic factors, except for unemployment and gross domestic product, on suicide. Thus, given the hidden unemployment and informal sector in developing economies, it is vital to examine the impact of IP, inflation and investment on mental health.
Details
Keywords
Li Li, Hui Ye and Xiaohua Meng
Considering the unmeasurable states of the systems and the previewed reference signal, a novel fuzzy observer-based preview controller, which is a mixed controller of the fuzzy…
Abstract
Purpose
Considering the unmeasurable states of the systems and the previewed reference signal, a novel fuzzy observer-based preview controller, which is a mixed controller of the fuzzy observer-based controller, fuzzy integrator and preview controller, is considered to address the tracking control problem.
Design/methodology/approach
The authors employ an augmentation technique to construct an augmented error system for uncertain T-S fuzzy discrete-time systems with time-varying uncertainties. Additionally, the authors obtain the corresponding linear matrix inequality (LMI) conditions for designing the preview controller.
Findings
This paper discusses the preview tracking problem for nonlinear systems. First, considering the unmeasurable states of the systems and the previewed reference signal, a novel fuzzy observer-based preview controller, which is a mixed controller of the fuzzy observer-based controller, fuzzy integrator, and preview controller, is considered to address the tracking control problem. Then, using the fuzzy Lyapunov functional with the linear matrix inequality (LMI) technique, new sufficient conditions for the asymptotic stability of the augmented system are derived by applying the LMI technique. The preview controller and fuzzy observer can be designed in one step. Finally, a numerical example is used to illustrate the effectiveness of the results.
Originality/value
An augmented error system is successfully constructed by the state augmentation approach. A novel preview controller is designed to address the tracking control problem. The preview controller and fuzzy observer can be designed in one step.
Details
Keywords
Ishfaq Nazir Khanday, Md. Tarique, Inayat Ullah Wani and Muzffar Hussain Dar
The primary objective of the paper is to examine the asymmetric Cointegration and asymmetric causality between financial development and poverty alleviation on annual data in…
Abstract
Purpose
The primary objective of the paper is to examine the asymmetric Cointegration and asymmetric causality between financial development and poverty alleviation on annual data in Indian context over the period from 1980 to 2019.
Design/methodology/approach
First nonlinearity test by Brooks et al. (1999) is applied to ascertain the nonlinear behavior of the variables used. Once the nonlinear behavior of variables is confirmed, asymmetric and nonlinear unit root tests by Kapetanios and Shin (2008) are applied to check for the order of integration of selected variables. Next, nonlinear autoregressive distributed lag model (NARDL) is employed to analyze the asymmetric Cointegration. Finally, Hatemi-j- asymmetric causality tests is applied to work out the direction of asymmetric causality.
Findings
The empirical findings document the existence of asymmetries in the short-run as well as long-run between poverty and financial development. The asymmetry reveals that negative financial development shocks leave a more profound impact on poverty alleviation than their positive equivalents. The findings of Wald's test also confirm the presence of asymmetric Cointegration. The asymmetric cumulative dynamic multipliers used to examine the behavior of asymmetries and adjustments with respect to time lend credence to the results calculated using NARDL estimator. This result exhibits the robustness of the model. Furthermore, the result emanating from recently introduced asymmetric causality test reveals a unidirectional asymmetric causality between negative shocks in financial development and poverty. The findings of the present study necessitate the need for investigating asymmetric and nonlinear effects in finance–poverty nexus, which existent literature has completely neglected, in order to have relevant policy conclusions.
Research limitations/implications
The study used “Per capita consumption expenditure” as a measure for poverty due to lack of continuous time series data on headcount ratio. In future, researchers can extend this study by incorporating headcount ratio as a measure of poverty in their respective works. There is further scope of research on this issue by finding out the impact of formal and informal sources of credit on poverty separately. A panel data study for developing countries over a period of time could further confirm/negate the findings of the present study.
Originality/value
To the best of the authors’ knowledge none of the studies in Indian context has scrutinized asymmetric and nonlinear impact of financial development on poverty. To dredge up asymmetric structures at work, the authors have used the highly celebrated NARDL estimator. To enrich the existent body of knowledge along the lines of asymmetric (nonlinear) linkages, the authors have also used recently introduced asymmetric causality test by Hatemi-j-(2012) to find out the direction asymmetric causality.
Details
Keywords
Kurukulasuriya Dinesh Udana Devindra Fernando and Nawalage Seneviratne Cooray
Introduction: In the context of Sri Lanka, this study compares how institutions and financial development (FD) affect economic growth (EG) and inclusive growth (IG).Purpose: The…
Abstract
Introduction: In the context of Sri Lanka, this study compares how institutions and financial development (FD) affect economic growth (EG) and inclusive growth (IG).
Purpose: The well-structured administration and judicial system at the provincial level have been established against the socioeconomic vulnerabilities in the country for an extended period. Still, the country as a whole and provincial level is experiencing huge income and social inequality, though there are required provisions for enhancing the well-being of the people.
Methodology: The study consists of data from the nine provinces from 2013 to 2019. The analysis used the Dynamic Spatial Durbin Model (D-SDM) to explore the spatial dependencies between the provinces. Two models were developed: the interaction of the financial service activities (FSA) and insurance, reinsurance, and pension (INPEN), representing the FD with the EG and IG with and without. The IG index was estimated by principal component analysis (PCA) using indicators of the four dimensions. The results indicated spatial dependency among FD’s interaction with EG when provincial tax (PROTAX) and provincial expenses (PROEXP) are the provincial institutions.
Findings: The IG model results showed the IG’s spatial dependency moderated by the FD and only the IG model between the provinces. PROEXP showed a significant positive spillover impact among provinces towards the IG.
Practical Implications: The finding inform economic policy making while identifying weaknesses in existing local governments. Attention must be given to how poverty can be reduced, enhancing the well-being of the people with the proper channelling of finance and government institutional mechanisms.
Details
Keywords
Onyinye Imelda Anthony-Orji, Ikenna Paulinus Nwodo, Anthony Orji and Jonathan E. Ogbuabor
This paper aims to examine Nigeria’s dynamic output and output volatility connectedness with USA, China and India using quarterly data from 1981Q1 to 2019Q4.
Abstract
Purpose
This paper aims to examine Nigeria’s dynamic output and output volatility connectedness with USA, China and India using quarterly data from 1981Q1 to 2019Q4.
Design/methodology/approach
The study adopted the network approach of Diebold and Yilmaz (2014) and used the normalized generalized forecast error variance decomposition from an underlying vector error correction model to build connectedness measures.
Findings
The findings show that the global financial crisis (GFC) increased the connectedness index far more than the 2016 Nigeria economic recession. The moderate effect of the 2016 Nigeria economic recession on the connectedness index underscores the fact that Nigeria is a small, open economy with minimal capacity to spread output shock. For both real output and its volatility, the total connectedness index rose smoothly and systematically through time, thereby leaving the economies more connected in the long run.
Originality/value
To the best of the authors’ knowledge, this paper is among the first to examine Nigeria’s dynamic output and output volatility connectedness with the USA, China and India using new empirical insights from the GFC versus 2016 Nigerian recession. The study, therefore, concludes that the Nigerian economy should be diversified immediately as a hedge against future real output shocks, while the USA, China and India should maintain and sustain their current policy frameworks to remain less vulnerable to real output shocks.
Details
Keywords
Zifeng Wang, Dezhu Ye and Tao Liang
This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private…
Abstract
Purpose
This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private lending and digital inclusive finance.
Design/methodology/approach
The study utilizes 2011–2017 data from prefecture-level cities as a representative sample. Moreover, these findings remain robust after addressing endogeneity through the use of the historical distance between cities and the railroad network as an instrumental variable.
Findings
The findings demonstrate a significant negative relationship between financial accessibility and crime rates. Heterogeneity exists in the inhibitory effect of different types of financial accessibility on crime, with banking finance exhibiting a stronger inhibitory effect compared to private lending. Areas affected by natural disasters and infectious diseases exhibit a stronger inhibitory effect of financial accessibility on crime rates, particularly in areas with severe shocks of natural disasters and epidemics. This effect is attributed to the low financing threshold and easy access to private lending, which plays a more effective role than bank finance when people face extreme risks.
Practical implications
There should be stricter regulations imposed on private lending markets and the introduction of more rational legislation aimed at guiding a healthy development within these markets; such measures serve as effective and complementary means for individuals from all walks of life to access credit financing.
Social implications
The regulation of financial resources by the government should always prioritize ensuring the accessibility of financial policies to cater to the needs of the majority population.
Originality/value
This study is for the first time in an emerging economy context, the causal relationship between financial accessibility and crime. To provide a more comprehensive measure of financial accessibility in a region, this paper proposes a five-dimensional methodology.
Details
Keywords
Tariq Ahmad Mir, R. Gopinathan and D.P. Priyadarshi Joshi
This study aims to analyze the long-run dynamic relationship between financial inclusion and economic growth for developing nations.
Abstract
Purpose
This study aims to analyze the long-run dynamic relationship between financial inclusion and economic growth for developing nations.
Design/methodology/approach
This study develops a comprehensive financial inclusion index based on the UNDP methodology for 53 developing nations. The authors use second-generation unit root tests, cointegration techniques and an advanced dynamic common correlated effects estimator model called cross-sectional augmented autoregressive distributed lags (CS-ARDL) to examine long-run dynamics among variables.
Findings
The tests confirm the presence of slope-heterogeneity and cross-sectional dependency. The second-generation panel unit root tests show the chosen variables are stationary at first difference. The bootstrap Westerlund cointegration result shows the variables are cointegrated in the long run. The CS-ARDL estimates conclude that financial inclusion positively enhances gross domestic product per capita in selected developing countries. The robustness check through augmented mean group estimation validates the findings.
Originality/value
The study makes three important contributions: first, it constructs a comprehensive financial inclusion index using 10 variables for a panel of 53 developing nations; second, the potential cross-section dependence and slope heterogeneity of panel data have been accounted for by applying the second-generation unit root tests; third, the study uses the dynamic common correlated effects estimator model (CS-ARDL) to examine long-run dynamics among variables.
Details
Keywords
Fei Chu, Hongzhuan Chen, Zheng Zhou, Changlei Feng and Tao Zhang
This paper aims to investigate the bonding of the photonic integrated circuit (PIC) chip with the heat sink using the AlNi self-propagating soldering method.
Abstract
Purpose
This paper aims to investigate the bonding of the photonic integrated circuit (PIC) chip with the heat sink using the AlNi self-propagating soldering method.
Design/methodology/approach
Compared to industrial optical modules, optical modules for aerospace applications require better reliability and stability, which is hard to achieve via the dispensing adhesive process that is used for traditional industrial optical modules. In this paper, 25 µm SAC305 solder foils and the AlNi nanofoil heat source were used to bond the back of the PIC chip with the heat sink. The temperature field and temperature history were analyzed by the finite element analysis (FEA) method. The junction-to-case thermal resistance is 0.0353°C/W and reduced by 85% compared with the UV hybrid epoxy joint.
Findings
The self-propagating reaction ends within 2.82 ms. The maximum temperature in the PIC operating area during the process is 368.5°C. The maximum heating and cooling rates of the solder were 1.39 × 107°C/s and −5.15 × 106°C/s, respectively. The microstructure of SAC305 under self-propagating reaction heating is more refined than the microstructure of SAC305 under reflow. The porosity of the heat sink-SAC305-PIC chip self-propagating joint is only 4.7%. Several metastable phases appear as AuSn3.4 and AgSn3.
Originality/value
A new bonding technology was used to form the bonding between the PIC chip with the heat sink for the aerospace optical module. The reliability and thermal resistance of the joint are better than that of the UV hybrid epoxy joint.
Details
Keywords
Samir Trabelsi and Amna Chalwati
This paper examines the relationship between poison pills, real earnings management and initial public offering (IPO) failure.
Abstract
Purpose
This paper examines the relationship between poison pills, real earnings management and initial public offering (IPO) failure.
Design/methodology/approach
The authors sampled 2,997 IPO firms that went public during 1993-2015.
Findings
The authors find that IPO firms manipulate earnings upward using real earnings management. The authors also find that IPO firms exhibiting a higher level of real earnings management have a higher probability of IPO failure. In addition, the authors find that weak shareholders' governance is positively associated with IPO failure.
Practical implications
These results suggest that poor governance structures in failed firms open the door to manipulating real activities and increasing operational risk.
Originality/value
The study findings are of most significant interest to potential investors and other stakeholders affiliated with a firm going public, an auditor, an underwriter, the lawyers who consult with the firm and employees or executives who might consider joining that firm.
Details