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1 – 10 of 82One of the major goals of sustainable development is creating employment opportunity among all. Despite its largest demographic dividends, the whole world faces challenges in…
Abstract
One of the major goals of sustainable development is creating employment opportunity among all. Despite its largest demographic dividends, the whole world faces challenges in employment generation among youth. The growing number of unemployed youths is one of the important problems faced by developed as well-developing countries. Youth unemployment is the situation of young people who are looking for a job but cannot find a job in the age between 15 and 24. Mismatch between education and employability resulted in high unemployment rates among the youth. A key research question is that how we can bridge the gap and equip the youth for job field. Although eminent economists, newspapers, international statistical bodies continuously put fingers towards this vulnerability, research work in this field is really scant. On this backdrop, this chapter wants to explore the intensity of youth unemployment in India; keeping in mind, India has the largest youth population in the world. Based on data sources from World Development Indicators, the chapter studies the time series since globalisation to COVID periods. This chapter also tries to search the macroeconomic variables related anyway to the youth unemployment rate. As research methodology, we use vector autoregressive (VAR) Granger causality test. Based on our results, the author has concluded that human development index in India and GDP both ways causes each other. And youth unemployment rate in India causes HDI. However, our econometric investigations can be useful to better assessment of youth unemployment in India from liberalisation to pandemic. At the end of this chapter, some final considerations and policy implications on youth labour market dynamics are analysed and discussed.
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Chin Tiong Cheng and Gabriel Hoh Teck Ling
Increasing overhang of serviced apartments poses a serious concern to the national property market. This study aims to examine the impacts of macroeconomic determinants, namely…
Abstract
Purpose
Increasing overhang of serviced apartments poses a serious concern to the national property market. This study aims to examine the impacts of macroeconomic determinants, namely, gross domestic product (GDP), consumer confidence index (CF), existing stocks (ES), incoming supply (IS) and completed project (CP) on serviced apartment price changes.
Design/methodology/approach
To achieve more accurate, quality price changes, a serviced apartment price index (SAPI) was constructed through a self-developed hedonic price index model. This study has collected 1,567 transaction data in Kuala Lumpur, covering 2009Q1–2018Q4 for price index construction and data were analysed using the vector autoregressive model, the vector error correction model and the fully modified ordinary least squares (OLS) (FMOLS).
Findings
Results of the regression model show that only GDP, ES and IS were significantly associated with SAPI, with an R2 of 0.7, where both ES and IS have inverse relationships with SAPI. More precisely, it is predicted that the price of serviced apartments will be reduced by 0.56% and 0.21% for every 1% increase in ES and IS, respectively.
Practical implications
Therefore, government monitoring of serviced apartments’ future supply is crucial by enforcing land use-planning regulations via stricter development approval of serviced apartments to safeguard and achieve more stable property prices.
Originality/value
By adopting an innovative approach to estimating the response of price change to supply and demand in a situation where there is no price indicator for serviced apartments, the study addresses the knowledge gap, especially in terms of understanding what are the key determinants of, and to what extent they influence, the SAPI.
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Mumtaz Ali, Ahmed Samour, Foday Joof and Turgut Tursoy
This study aims to assess how real income, oil prices and gold prices affect housing prices in China from 2010 to 2021.
Abstract
Purpose
This study aims to assess how real income, oil prices and gold prices affect housing prices in China from 2010 to 2021.
Design/methodology/approach
This study uses a novel bootstrap autoregressive distributed lag (ARDL) testing to empirically analyze the short and long links among the tested variables.
Findings
The ARDL estimations demonstrate a positive impact of oil price shocks and real income on housing market prices in both the phrases of the short and long run. Furthermore, the results reveal that gold price shocks negatively affect housing prices both in the short and long run. The result can be attributed to China’s housing market and advanced infrastructure, resulting in a drop in housing prices as gold prices increase. Additionally, the prediction of housing market prices will provide a base and direction for housing market investors to forecast housing prices and avoid losses.
Originality/value
To the best of the authors’ knowledge, this is the first attempt to analyze the effect of gold price shocks on housing market prices in China.
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Mohammad Rifat Rahman, Md. Mufidur Rahman, Athkia Subat and Tanzika Imam Tarin
This study empirically aims to examine the relationship between Bangladesh’s pharmaceutical industry growth and macroeconomic indicators such as the inflation rate, gross domestic…
Abstract
Purpose
This study empirically aims to examine the relationship between Bangladesh’s pharmaceutical industry growth and macroeconomic indicators such as the inflation rate, gross domestic product (GDP) growth, foreign direct investment (FDI) inflows, exchange rate and export growth through the long- and short-run relationship.
Design/methodology/approach
Using the time series data from 1986 to 2020, this study was developed based on the autoregressive distributed lag (ARDL) framework for co-integration. In contrast, the Toda–Yamamoto Granger Causality approach was also used for finding the direction of causality.
Findings
This study used the ARDL bounds test, which found strong co-integration among the variables, indicating a long-term relationship between them. In the long run, inflation, exchange rate and export growth significantly positively influence the pharmaceutical industry’s growth. Surprisingly, an FDI inflow has a negative impact. In the short term, the exchange rate and GDP growth were found to influence the growth of the pharmaceutical industry positively. Bidirectional causality between the growth of the pharmaceutical industry and the exchange rate was also identified using the Granger causality approach.
Research limitations/implications
This paper emphasizes developing the policy as well as making concrete decisions regarding the development of the pharmaceutical industry and economic development in Bangladesh. The results also highlight the necessity for strategic macroeconomic management to support this sector’s long-term development and global competitiveness.
Originality/value
To the best of the authors’ knowledge, this paper is conducted to identify the short- and long-run relationship of pharmaceutical industry development with the economic indicators and progress, where no study has been found on this dimension.
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