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International Trade and Economic Growth of Nigeria: An Auto Regressive and Distributed LAG Bound Test Approach
Issue:
Volume 7, Issue 4, December 2022
Pages:
100-110
Received:
22 September 2022
Accepted:
12 October 2022
Published:
8 December 2022
DOI:
10.11648/j.jbed.20220704.11
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Abstract: In this paper, the study investigates the impact of international trade on economic growth of Nigeria applying an Auto Regressive and Distributed LAG Bound Test Approach between the periods of 1980 to 2020. To actualize the objective of this study, we estimated GDP as a function of imports, exports, gross fixed capital formation, inflation and exchange rate. The paper employed ADF unit root test, Johansen co-integration test, error correction technique, and the Granger causality test. The estimated coefficients of the variables showed that all the employed variables are integrated of the same order 1(1) exception of inflation which was integrated of order 1(0). The bound test shows that there is proof of the presence of a long run correlation among the variables used while the causality test displayed that exports actually granger causes economic growth in Nigeria. The outcomes from estimation depicts that there is short run and long run effect of export trade on economic growth of Nigeria. Based on these findings, the study recommends that the government should embark upon import substitution strategy and aggressive diversification of the country’s economy by implementing policies that will encourage non-oil export, science and technology, manufacturing and agricultural sectors and in general promote the industrial growth of the economy.
Abstract: In this paper, the study investigates the impact of international trade on economic growth of Nigeria applying an Auto Regressive and Distributed LAG Bound Test Approach between the periods of 1980 to 2020. To actualize the objective of this study, we estimated GDP as a function of imports, exports, gross fixed capital formation, inflation and exch...
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Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)
Ilaz Ameti,
Llokman Hebibi,
Armend Asllani
Issue:
Volume 7, Issue 4, December 2022
Pages:
111-116
Received:
12 November 2022
Accepted:
5 December 2022
Published:
27 December 2022
DOI:
10.11648/j.jbed.20220704.12
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Abstract: Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identifying the comparative advantages of trade, influencing factors and improving quality as increasing factors of exports and finding a place in world markets. The discrepancies between imports and exports in Northern Macedonia have resulted in a significant negative trade balance due to the weak manufacturing sector, and as a result firms in Northern Macedonia are not yet able to compete internationally with a wide range of products. The determining factor in market entry is the ability to improve and produce according to specific quality requirements, so companies need to improve the quality of their products as soon as possible, which would enable them to compete with the international market and launch new products. Finally, we have given some recommendations on what the Republic of Northern Macedonia should do, most importantly to provide grants, subsidies and other financial assistance to organizations directly to increase their productivity and competitiveness, thus directly affecting trade flows. Republic of Northern Macedonia, ie the policy-making institutions should define the products with development potentials and finance those products in various forms in order to be competitive in the foreign market.
Abstract: Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identify...
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Role of Financial Management Practices on the Financial Performance of Small and Medium Enterprises in Albania
Albana Jupe,
Ervi Kosta,
Anxhela Bakiasi
Issue:
Volume 7, Issue 4, December 2022
Pages:
117-122
Received:
3 July 2022
Accepted:
1 August 2022
Published:
29 December 2022
DOI:
10.11648/j.jbed.20220704.13
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Abstract: Small and medium enterprises (SME) comprise 99.9% of the enterprises, playing the engine of Albanian economy, employing 52.2% of active population (INSTAT 2018). Previous studies in Albania related to SME show problems related to the environment in which SMEs operate, the obstacles faced by SMEs in maintaining their market position, such as poor management, low funding opportunities, lack of specialization as well as measures to be taken at the macro level to stimulate SME development. In our paper we want to identify the main financial management tools that allow the SME to reach the profitability. The purpose of this paper is to determine the role of financial management on profitability of SME. For this aim, the financial statements and financial reporting of 100 small and medium enterprises in Tirana published by firms on National Business Center were reviewed for information and data. The study used secondary data retrieved for a five-year period covering year 2013-2017 to establish the relationship between financial practices and financial performance of SMEs. The linear regression model used to determine the relationship between ROA ratio (measures financial performance) and Liquidity management, Capital budgeting, Debt management (independent variables used to define financial management practices). In this study we will show how financial analysis as a financial management tool helps a firm achieve profitability objectives. The study was faced by certain limitations which hindered the effectiveness of data collection. The study was also limited to two financial management practices in the SMEs. This includes liquidity management and profitability management. The panel regression results revealed that Capital budgeting (ROCE) had a high positive significant effect on performance as measured using ROA. Liquidity management had a negative insignificant effect on financial performance of SMEs. Debt management had a negative significant effect on financial performance of SMEs in Tirana. The results of the study may also be limited by time and financial constraints.
Abstract: Small and medium enterprises (SME) comprise 99.9% of the enterprises, playing the engine of Albanian economy, employing 52.2% of active population (INSTAT 2018). Previous studies in Albania related to SME show problems related to the environment in which SMEs operate, the obstacles faced by SMEs in maintaining their market position, such as poor ma...
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Research on Impact of Enterprise Innovation Capability on Corporate Social Responsibility in Era of Big Data
Liangcan Liu,
Tianhui Chen,
Jia Chen,
Hang Ren
Issue:
Volume 7, Issue 4, December 2022
Pages:
123-128
Received:
12 January 2023
Accepted:
1 February 2023
Published:
9 February 2023
Abstract: The healthy development of an enterprise promotes the development of the whole society. At the same time, innovation ability is one of the important factors for enterprises to obtain core competitiveness. In the long-term and stable development of enterprises and society, the innovation ability of enterprises and the fulfillment of social responsibilities play a crucial role. First of all, on the basis of understanding the background and current situation of corporate social responsibility management in the era of big data, this paper focuses on government subsidy policies in the era of big data to study the relationship between improving corporate innovation ability and strengthening corporate social responsibility performance. Secondly, this paper makes use of the data of 500 enterprises from 2016 to 2020 by quantitative analysis and empirical analysis. The results show that there is a positive correlation between innovation capability and Corporate social responsibility, and government subsidies positively regulate the impact of innovation capability on corporate social responsibility. Finally, based on the above conclusions, this paper puts forward the following suggestions for economic development: First, enterprises should realize that R&D investment and economic benefits should be equal, and both are the top priority of economic development. Second, companies must actively maintain investment in research and development, using digital technologies such as the Internet, the Internet of Things and big data for front-end and back-end development. Third, to further stimulate the internal vitality of enterprises, the government needs to maintain tax reduction and exemption policies for high-tech enterprises, especially small and medium-sized enterprises.
Abstract: The healthy development of an enterprise promotes the development of the whole society. At the same time, innovation ability is one of the important factors for enterprises to obtain core competitiveness. In the long-term and stable development of enterprises and society, the innovation ability of enterprises and the fulfillment of social responsib...
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