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The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.

The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.

Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.

There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.

This study aims to propose a refined dynamic network slacks-based measure (DNSBM) to evaluate the efficiency of China's regional green innovation system which consists of basic research, applied research and commercialization stages and explore the influencing factors of the stage efficiency.

A two-step procedure is employed. The first step proposes an improved DNSBM model with flexible settings of stages' input or output efficiency and uses second order cone programming (SOCP) to solve the non-linear problem. In the second step, least absolute shrinkage and selection operator (LASSO) and Tobit models are used to explore the influencing factors of the stage efficiency. Global Dynamic Malmquist Productivity Index (GDMPI) and Dagum Gini coefficient decomposition method are introduced for further discussion of the productivity change and regional differences.

On average, Chinese provincial green innovation efficiency should be improved by 24.11% to become efficient. The commercialization stage outperforms the stages of basic research and applied research. Comparisons between the proposed model and input-oriented, output-oriented and non-oriented DNSBM models show that the proposed model is more advanced because it allows some stages to have output-oriented model characteristics while the other stages have input-oriented model characteristics. The examination of the influencing factors reveals that the three stages of the green innovation system have quite diverse influencing factors. Further discussion reveals that Chinese green innovation productivity has increased by 39.85%, which is driven mainly by technology progress, and the increasing tendency of regional differences between northern and southern China should be paid attention to.

This study proposes an improved dynamic three-stage slacks-based measure (SBM) model that allows calculating output efficiency in some stages and input efficiency in the other stages with the application of SOCP approach. In order to capture productivity change, this study develops a GDMPI based on the DNSBM model. In practice, the efficiency of regional green innovation in China and the factors that influence each stage are examined.

As women’s position in the economy and society is often explained by cultural factors, this study aims to verify whether the observed changes in female empowerment in the region of Central and East European (CEE) countries of the European Union (EU) are associated with masculinity as a cultural trait.

The authors apply the k-means clustering method to group CEE countries into clusters with similar levels of female empowerment in two time points – 2013 and 2019. Next, the authors examine the clusters and cross-reference them with the national culture’s masculinity to explore the interrelations between female empowerment and cultural traits in the CEE countries and their development in time.

The analyses reveal that female empowerment is not uniform or stable across the CEE countries. The masculinity level is not strongly related to women’s position in these countries, and changes in female empowerment are not closely linked to masculinity.

Despite the tumultuous history of women’s empowerment in the CEE countries, the issues related to gender equality and cultural traits pertaining to the region are relatively understudied in the literature. By focusing on the CEE region, the authors fill the gap in examining the independencies between female empowerment and cultural masculinity.

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.

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.

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.

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.

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.

This study examined how economic freedom and its related components, such as open markets, regulatory efficiency, rule of law and the size of government, affect bank risk behavior, focusing on the Japanese context.

The study employs a two-step GMM framework on the annual data of Japanese banks ranging from 2005 to 2020 to empirically test the hypotheses. Furthermore, we also use the ordinary least square method to ensure the robustness of our mainline findings.

The finding suggests that economic freedom increases the banks' risk-taking, thus making them fragile. The results also highlight that out of the four main subcomponents of economic freedom, regulatory efficiency and government size increase bank risk-taking, while the rule of law and open markets decrease banks' risk-taking. Additionally, we examine how the banks' specific characteristics affect the results by creating a subsample based on capitalization and liquidity ratios. Overall, the results are consistent with the baseline findings. Moreover, the results are robust to alternative proxy measures of risk.

The study's findings have several implications for regulators and policymakers. The results suggest that regulators and policymakers should reconsider their strategies for economic freedom to ensure that they promote stability in the banking system and reduce banks' risk-taking inclinations.

Although previous studies have examined the impact of economic freedom on bank stability and risk-taking, this study is the first to do so in the Japanese context, contributing to the literature by providing new insights and empirical evidence.

Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the utility of human capital have often been divided. To address the research gap in the literature, the authors attempt to understand how human capital plays a significant role in financial development and economic growth nexus.

The authors rely on secondary data published by the World Bank. The authors use econometric tools such as the autoregressive distributive lag (ARDL) model and related statistical tests to study the relationship between human capital, India's financial growth and gross domestic product (GDP) growth.

Study findings suggest that human capital and financial development contribute significantly to economic growth. Further, the authors found that human capital has a positive and significant moderating effect on the path of joining financial development and economic growth.

The study contributes to the human capital debate. Despite the rich body of literature, the study based on World Bank data confirms the previous findings that investment in human capital is always useful for the financial and economic growth of the nation.

This paper reveals some unique findings regarding effect of financial development and economic growth nexus which opens the window of new dimension to think about their nexus. It also provides a different pathway to foster the economic growth by using human capital and financial development as together, especially in India.