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Research Article
Study on the Characteristics of International Grain Price Fluctuation with GARCH Models
Li Songhua*,
Ding Jiayi,
Xu Yanxia
Issue:
Volume 12, Issue 6, December 2023
Pages:
174-178
Received:
17 October 2023
Accepted:
2 November 2023
Published:
11 November 2023
Abstract: The sharp fluctuation of international grain prices is the biggest threat to international grain security, and in the context of grain financialization, the volatility of international grain prices is becoming stronger and stronger, in order to prevent the risk of grain price volatility, it is particularly necessary to clarify its volatility characteristics. This paper empirically tests the volatility characteristics of international grain prices based on the data from January 2010 to October 2021 by employing GARCH models and using the spot price of hard wheat No. 2 in Kansas City, USA as an alternative index of international grain prices. The results show that the volatility of international grain price has the characteristics of aggregation. The fluctuation of international grain price is autoregressive and its residual has ARCH effect, which indicates that it can be studied by GARCH models. Both of GARCH model and TARCH model successfully described the volatility characteristics of international grain prices. Compared with GARCH model, TARCH model simulates the form and degree of international grain price volatility better than GARCH model, furthermore, the estimation of TARCH model shows that good news can reduce the volatility of international grain prices by comparing the different effects of good news and bad news on the volatility of international food prices.
Abstract: The sharp fluctuation of international grain prices is the biggest threat to international grain security, and in the context of grain financialization, the volatility of international grain prices is becoming stronger and stronger, in order to prevent the risk of grain price volatility, it is particularly necessary to clarify its volatility charac...
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Research Article
Employment Barriers as Correlates of Economic Empowerment of Persons with Physical Disabilities in Bwari Area Council of Federal Capital Territory Abuja Nigeria
Nwabueze Josephine Nneka,
Onuigbo Liziana Nnenna
Issue:
Volume 12, Issue 6, December 2023
Pages:
179-184
Received:
22 July 2023
Accepted:
11 August 2023
Published:
29 November 2023
Abstract: The study examined the employment barriers as correlates of economic empowerment of persons with physical disabilities in Bwari Area Council of the Federal Capita Territory (FCT) Abuja. A correlational survey design was adopted for this study. The population of the study comprised of 40 people with physical disabilities out of which 25 were purposively sampled for the study. One research question and three null hypotheses guided the study. Two researcher developed twenty four (24) itemed questionnaire in a four point Likert scale with a reliability coefficient of 0.84 and 0.79 were used for the study. The data collected were analyzed using Pearson Product Moment Correlation Analysis. The findings revealed that lack education and training, discriminating attitudes of employers and failure to implement legislative recommendations statistically relate with economic empowerment of persons with physical disabilities. Recommendations were made among others that government should be more committed to the education of persons with physical disabilities and employers should be sensitised to ensure a stigma-free environment at the workplace for employees with physical disabilities.
Abstract: The study examined the employment barriers as correlates of economic empowerment of persons with physical disabilities in Bwari Area Council of the Federal Capita Territory (FCT) Abuja. A correlational survey design was adopted for this study. The population of the study comprised of 40 people with physical disabilities out of which 25 were purposi...
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Research Article
Telecommunications in the Midst of Two Crises: 2008-2020
Issue:
Volume 12, Issue 6, December 2023
Pages:
185-196
Received:
12 September 2023
Accepted:
4 October 2023
Published:
29 November 2023
Abstract: This research deals with a pervasive general purpose technology and an economic resource of huge value founded on innovation, subject to rapid changes and obsolescence, a capital-intensive industry and high-revenue industry. The study addresses from a general and company perspective the impact on the telecommunications of the shock hitting the world economy with exceptional virulence, size and extent unseen in the last eight decades. The text consists of three main sections which analyses a broad issue -telecommunications in the world- and two specific points -the companies' response to the crisis and one particular path, namely, mergers and acquisitions. It is built on different sources from major institutions and big companies. The 2008 global financial crisis adversely hit mergers and acquisitions, causing a sharp decline in these markets, which did not recover before 2014. Nevertheless, after the downturn, the emerging market countries benefited from the attractive asset prices in advanced countries and expanded their acquisitions abroad. This research contributes to general knowledge that telecommunication sector faces both common and industry risk factors. The analysis at companies’ level finds the importance of specific factors derived from the nature of the companies in question, independent of specific shocks.
Abstract: This research deals with a pervasive general purpose technology and an economic resource of huge value founded on innovation, subject to rapid changes and obsolescence, a capital-intensive industry and high-revenue industry. The study addresses from a general and company perspective the impact on the telecommunications of the shock hitting the worl...
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Research Article
Cross-Border E-commerce and Economic Growth: Evidence from the “10+1” Free Trade Agreement
Ho Thi Hang (Suri Ho),
Can Yi*,
Yao Shen
Issue:
Volume 12, Issue 6, December 2023
Pages:
197-213
Received:
11 November 2023
Accepted:
29 November 2023
Published:
14 December 2023
Abstract: Cross-border e-commerce (CBEC), as a new driving force to economy, has been flourishing recently. Under the implementation of “10+1” Free Trade Agreement in 2010 and the Upgrade Protocol of “10+1” Free Trade Agreement in 2016, China and ASEAN countries has witnessed a prosperous bilateral CBEC transaction. As early as 2016, ASEAN has become China’s 9th-largest trading partner in CBEC, and China’s 3rd-largest CEBC export market. According to the customs statistical data from 2019 to 2023, China has maintained strong CBEC ties with ASEAN in B2B and petty B2C trade. And estimated bilateral CBEC volume appears an upward movement especially after the year of 2010 and 2016. While how this impressive CBEC trade benefiting from “10+1” FTA affects ASEAN’s economic growth is still less been investigated. Our paper employs a Generalized DID method by examining the exogenous shocks from “10+1” Free Trade Agreement coming into force in 2016 to answer this question. By empirically analyzing the impact of CBEC on consumers, firms and labor, this study also comprehensively elucidate mechanisms through which CBEC influences macro-economic growth. We find that, first, CBEC reduces firms’ procurement and inventory management cost and improves productivity through spillovers effect, especially for SMEs, to boost international trade. Second, CBEC by reducing information cost, expanding consumption choices and lowering goods’ price for consumers fosters consumption. Third, increasing job opportunities and enhancing labor productivity brought by CBEC lead to a higher income, which promotes higher consumption. Consumption and trade boost economic growth. This paper provides theoretical evidence for further strengthening China-ASEAN economic cooperation and CBEC collaboration.
Abstract: Cross-border e-commerce (CBEC), as a new driving force to economy, has been flourishing recently. Under the implementation of “10+1” Free Trade Agreement in 2010 and the Upgrade Protocol of “10+1” Free Trade Agreement in 2016, China and ASEAN countries has witnessed a prosperous bilateral CBEC transaction. As early as 2016, ASEAN has become China’s...
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Research Article
Research on the Integration Development Strategy of Cultural Industry and Tourism Industry in Tai'an City
Issue:
Volume 12, Issue 6, December 2023
Pages:
214-218
Received:
28 November 2023
Accepted:
13 December 2023
Published:
22 December 2023
Abstract: The integrated development of culture and tourism refers to the deep integration of culture and tourism, aiming to promote innovative development of the tourism industry through the development, protection, and inheritance of cultural resources, while promoting the improvement of local economy and social and cultural exchange and communication.In the process of integrating cultural and tourism development, cultural resources have been endowed with new value and better protected and inherited. At the same time, the tourism industry has also gained new development momentum and competitive advantages, achieving a transformation from a single tourism consumption to a deep cultural experience. Promoting tourism through culture and highlighting culture through tourism are important ways to promote cultural dissemination and develop modern tourism in the new historical era.This paper aims to investigate the integrated development of cultural industry and tourism industry in Tai'an City, its current situation, problems and countermeasures. Through in-depth analysis of the integrated development of the two industries, it is found that there are some problems, such as lack of coordination mechanism, low integration degree and insufficient innovation ability. Therefore, this paper proposes to strengthen policy guidance, establish coordination mechanism, improve innovation ability and other countermeasures to promote the integrated development of cultural industry and tourism industry in Tai'an City, so as to achieve economic transformation and upgrading and sustainable development.
Abstract: The integrated development of culture and tourism refers to the deep integration of culture and tourism, aiming to promote innovative development of the tourism industry through the development, protection, and inheritance of cultural resources, while promoting the improvement of local economy and social and cultural exchange and communication.In t...
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