International Journal of Economics and Finance

Journal Information
ISSN / EISSN : 1916-971X / 1916-9728
Current Publisher: Canadian Center of Science and Education (10.5539)
Total articles ≅ 2,454
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Ines Pamela Nguembi, Zhang Yanrong, Haidar Salaheldeen Abdalla
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p105

Abstract:
On a historical account, the apparent lack of documented economic data (accurate information) on the research budget and flexible schedule hinders economic growth and development. When the gravity model has been used for analysis a positive statistically important relationship has been found between transport facilities, continuity, and two-sided trade. However, the connection between transport facilities, continuity, and bilateral commerce on one hand and available documented economic data or information on another hand was missing. To determine how the availability of standard documented economic data or information squeezed economic growth and development as well as the relevance of this relationship; the authors analyzed this relationship. The BRI, Chinas’ majestic idea of an economic belt created from the old road, covers almost all routes across Asia, Europe, and Africa. In the BRI area, the development of a sea, air, and road transport link among trading partners are relevant with a big scale influence on perfecting commerce. This brings to the fore, the second-most important influence, which is a testament to the road, sea transport, and number consistency. Also, transport service quality which has an important influence on bilateral commerce was studied. Our results purposes and guidance are that a standard investment in roads; total commerce in the BRI member countries (the central African countries (CAC) included) could become more valuable. Hence, perfecting transport facilities could lead to a win-win situation with a strong influence on commerce.
Njoupouognigni Moussa, Ndambendia Houdou
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p93

Abstract:
In this study, we highlight the issue of the recent rise of food prices and other commodities on domestic inflation in the CEMAC zone. Results show that there is a long-run relationship between consumer price index, commodity prices and traditional determinants of inflation. Indeed, an appreciation of the nominal effective exchange rate and a rise of interest rate reduce domestic inflation while excessive money supply and a surge of commodity prices are potential sources of inflation in the region. Moreover, Pass-through from commodity price changes to domestic inflation in the region is incomplete because of the CFA Franc peg to Euro. An efficient use of the tools of monetary policy and a coordinated food policy on crops are more likely to reduce inflationary pressures in the region.
Nazeer Ahmed, Ma Dingchou, Abdul Qayyum
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p83

Abstract:
The role of oil price on the macro-economy has been intensely researched. However, oil remains one of the most important energy sources for production. Concerning China, there are projections that the country’s energy consumption would have risen to 18 billion barrels per day in the next two decades. Given China’s heavy reliance on oil, we reexamine the impact of oil price on the US dollar-Renminbi rate and the Shanghai index using daily data from 4/01/2010 to 29/03/2021. In our analysis, we apply the Nonlinear ARDL technique in the presence of structural breaks and find that oil price has asymmetric impact on exchange rate and stock price in the short-run alone. However, the asymmetry is only in terms of magnitude and not in terms of effect direction. Oil price is found to appreciate the Renminbi vis-à-vis the US dollar and to increase stock price significantly both in the short-run. We find that accounting for structural breaks is necessary for cointegration in using oil price to explain both variables.
Tsoneva Stefaniya Tsoneva
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p56

Abstract:
The study of FDI and its identification as a specific type of investment activity began in the `60s of the XX century, when under the influence of the beginning of the process of globalization, transnational cooperation began to form, which actively entered the national markets of the countries of the world using FDI. The current study reviews the literature in the field of factors influencing the attraction of FDI. This goal has necessitated the formulation of the following tasks: to investigate the basic theoretical and empirical research; determine the directions of the influence of FDI on the economy of the state; literature research on the side effects of FDI. The main research methods are bibliographic analysis, critical analysis of scientific approaches solving FDI problems, retrospective analysis of literary sources. Most of the scientific literature focuses on the study of individual factors in attracting FDI to the economy of host countries. Simultaneously, the scientific discussion continues among foreign and domestic scientists regarding the formation of an optimal set of factors to stimulate the growth of the inflow of FDI in the economy of the recipient country. According to the results of the study, the author noted the presence of many problematic issues that require further study.
Anwen Yin
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p9

Abstract:
We propose using the nonlinear method of smoothing splines in conjunction with forecast combination to predict the market equity premium. The smooth splines are flexible enough to capture the possible nonlinear relationship between the equity premium and predictive variables while controlling for complexity, overcoming the difficulties often attached to nonlinear methods such as computational cost, overfitting and interpretation. Our empirical results show that when used with forecast combination, the smoothing spline forecasts outperform many competing methods such as the adaptive combinations, shrinkage estimators and technical indicators, in delivering statistical and economic gains consistently.
Mark Schaub
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p1

Abstract:
During the COVID-19 pandemic, a US government agency (the Environmental Protection Agency) made two announcements recommending the products of 2 different firms in the Household & Personal Products industry. The announcements were official and posted to the EPA’s website on the dates of March 3, 2020 and July 6, 2020. Evidence shows these announcements added value to the firms that were promoted. Also, on a risk-adjusted and head-to-head basis, these announcing firms significantly outperformed the other large firms in the industry around the date of the announcements.
Abdisalan Salad Warsame
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p22

Abstract:
This paper examined the relationship between the increasing Information & Communication Technology (ICT) infrastructure in Africa and foreign direct investment inflow to Africa using panel data sourced from ITU and WDI over 17 years (1998-2014). The paper applies both the fixed-effect and difference-in-differences models. The results indicate that there is a positive correlation between FDI inflow and ICT level in the host country.  The surge in ICT infrastructure in 2009 has substantially increased the FDI inflow to Africa. This increase in FDI inflow was more in the countries that have access to the sea than the countries that have no access to the sea. In other words, the average scale change in FDI inflow to the countries with no access to the sea is smaller than the countries with the coastline.
Fan Liu
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p36

Abstract:
Both women and men desire to achieve their financial security. Financial planning, as a long-term method, allows us to manage certain financial aspects of our lives. However, women and men tend to have different financial behavior that may play a key role in financial planning. In this paper, we analyze the survey data collected by the Consumer Financial Protection Bureau to examine the gender effect on goal setting in financial planning. We observe that women overall tend to be more likely to set financial goals or create plans to secure the quality of life even though they are less financially knowledgeable and more economically disadvantaged in society. In particular, we identify that such gender difference is more noteworthy among working-age individuals but not among retirees. Further, we also explore how gender influences financial goal setting and planning decisions within different ethnic groups.
Kelvin Friday Barida Biiranee
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p45

Abstract:
This is a correlational research design that intended to examine the nexus between retail banking and financial performance of banks in Nigeria. The Panel Least Squares regression results aided the study in ascertaining the coefficient, standard error, t-statistic and probability. The tabulated ratios were exported to EViews 9.0 to run the panel regression. Data were collected and analyzed based on the annual reports available on the website of 16 banks listed on the Nigerian Stock Exchange as at 31st December 2018 out of the approved 22 commercial banks in Nigeria. The result of findings revealed that Size and Competition significantly impacted on bank performance with a probability of 0.0071 and 0.0178 respectively which is less than 5% degree of significance; and Loans and deposits relationships were all not significantly impacting on bank performance, as the probabilities for all variables were more than the acceptable 5% degree of significance. Based on the outcome of findings the following conclusions were drawn that; Size which is the natural logarithm of Total Assets and Competition which is the natural logarithm of Total Deposit is significantly responsible for bank performance in Nigeria. The study therefore recommended that professional bankers should continually focus on growth and expansion drive that will increase the size of the bank and enable the banks to compete nationally and internationally in order to drive profitability. Banks that want to experience optimum performance should focus more on policies that will attract huge retail deposit to the bank being that the savings component of the total deposit banks in Nigeria comes at a ridiculously cheap rate to the banks and banks loaned out these deposits at high margin.
Samuel M. Jung
International Journal of Economics and Finance, Volume 13; doi:10.5539/ijef.v13n5p67

Abstract:
This paper is a survey of the literature on the theoretical and empirical interactions among financial development, economic growth, and income inequality. Prevailing evidence on finance and economic growth suggests that financial intermediaries’ development significantly helps to enhance economic growth. In addition, previous studies show that financial development plays an important role in reducing income inequality. Empirical research on a Chinese case, however, shows varied empirical findings or no clear association between financial development and income inequality.
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