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Aviral Kumar Tiwari, Muhammad Shahbaz, Muhammad Shahbaz Shabbir (2012) Is Per Capita GDP Non-linear Stationary in SAARC Countries? European Economics Letters 1(1), 1-5. Abstract: Using data for SAARC region, we found real GDP per capita is nonlinear stationary implying that shocks to economy by economic policies (external or internal) have permanent effect on real per capita GDP of SAARC countries. This finding reveals that classical growth model works better to boost economic growth in long run. Download at: http://eelet.org.uk/EEL1(1)1-5.pdf
Francesco Rossi (2012) U.K. cross-sectional equity data: do not trust the dataset! The case for robust investability filters. European Economics Letters 1(1), 6-13. Abstract: We propose a novel approach to cross-sectional equities sample selection, derived from best market practice in index construction and focused on investability. Using the U.K. market as a template, we first demonstrate how the popular Datastream dataset is plagued by data deficiencies that would surely invalidate statistical inferences, and that are not addressed by commonly used filters. We show the benefits and need for a supplementary data source. We then develop robust investability filters to ensure statistical results from cross-sectional analysis are economically meaningful, an issue overlooked by most studies on cross-sectional risk pricing. Download at: http://eelet.org.uk/EEL1(1)6-13.pdf
John C. Anyanwu (2012) Accounting for female employment in Africa. European Economics Letters 1(1), 14-26. Abstract: Women employment has become a critical development challenge globally. This is because the exclusion of women in employment has potential negative effects on both sustainable inclusive development and poverty reduction. In this paper, we examine the characteristics and the key determinants of female employment in Africa. Our empirical estimates, using available cross-sectional data over the period, 1991 and 2009 suggest that in the all-Africa estimation, quadratic levels of real per capita GDP, greater access to credit by the private sector, more education, government consumption expenditure, economic growth increase female employment while higher levels of real GDP per capita, levels and quadratic institutionalized democracy, higher female to male population ratio, and being a net oil-exporting country tend to lower it. In Sub-Saharan Africa, quadratic levels of real per capita GDP, higher domestic investment, more education, and being a net oil-importing country tend to increase female employment while the level of real GDP per capita, the level of institutionalized democracy and its quadratic term, trade openness, urban share of the population, female to male population ratio, and credit to the private sector tend to lower it. For North Africa, the quadratic element of real GDP per capita, greater access to credit by the private sector, inflation, urbanization, and greater openness of the economy increase female employment; the level of real GDP per capita, the level of institutionalized democracy, and domestic investment lower female employment in the sub-region. The policy implications of these results are discussed. Download at: http://eelet.org.uk/EEL1(1)14-26.pdf
B.V.L. Narayana (2012) Understanding impact of education on health: a processual solution to an enigma-insights from India. European Economics Letters 1(1), 27-45. Abstract: A population’s education levels determine its health status and in turn its economic growth. Despite considerable research, the mechanisms through which education influences health seeking behaviour and the way it is operationalised is still a subject of intense debate. Consequently, considerable resources are continuing to be spent on education and health literacy without achieving the desired impact. Yet, the need to understand these mechanisms is undeniable in light of its likely significant impact on how we design our health campaigns. This study shows that populations with poor formal literacy rates show equivalent or even better health indices. These target populations have better attitudes, better access and consequently better utilisation of health interventions. This utilisation was dependent upon, first people becoming aware of existence of health conditions and understanding their impact. On being confronted with a specific health condition, this general awareness would prime specific health seeking behaviours. The success of such behaviours was crucially dependent upon access to corresponding health interventions. Thus a sequential model of general awareness-specific awareness-attitudes-access-utilisation is developed. Our understanding of these mechanisms is facilitated if Health awareness is measured not only in terms of general indicators such as formal schooling or education but also in terms of specific awareness indicators. This has immense policy implications in health care, both in terms of content of message and emphasis on education and specific health behaviour campaigns. It also crucially changes the mechanism of evaluation of health behaviour interventions. Download at: http://eelet.org.uk/EEL1(1)27-45.pdf
Giscard Assoumou-Ella (2012) Responses of African economies to the international economic shocks: an empirical study. European Economics Letters 1(1), 46-51. Abstract: The objective of this paper is to verify the assumption of decoupling or re-coupling African economic condition and international economic shocks. This assumption is tested in 15 African countries using a SVAR model for the period 1970-2007 and the results suggest that there is re-coupling. In fact, 12 countries are exposed to OEDC GDP per capita shocks, six to Federal funds effective rate shocks and five to World price of oil shocks. Furthermore, we investigate the viability of the creation of an economic and monetary union and a unified currency among African countries by comparing the reaction of African economies to those international shocks. The impulse response functions of these economies after an international income, monetary or price shocks tend to be more or less similar. According to this indicator, we are optimistic for the possibility and the viability of this project. Download at: http://eelet.org.uk/EEL1(1)46-51.pdf
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