Papers by Peter J. Stauvermann
Deutscher Universitätsverlag eBooks, 1997
In our paper we want to investigate the question whether it will make sense for regions to compet... more In our paper we want to investigate the question whether it will make sense for regions to compete for new high-tech industries to settle down in their region. The justification for giving subsidies is based on the general believe in politics that attracting high-technology firms will cause positive externalities in the sense of Arrow (1962) and of course will directly create working places and an additional tax revenue in the long run. Additionally, it is a general believe in politics that competition between regions will enhance the efficiency of local authorities and local administration. At the moment such new high technologies are bio-technology firms, ICT firms, nanotechnology firms etc.
한국산업경제학회 정기학술발표대회 논문집, May 1, 2013
The Greater Mekong Sub-region (GMS) Program is a program initiated in 1992 by Cambodia, the Peopl... more The Greater Mekong Sub-region (GMS) Program is a program initiated in 1992 by Cambodia, the People’s Republic of China, the Laos People’s Democratic Republic(Laos), Myanmar, Thailand, and Vietnam to enhance regional economic development of the GMS and the economic relations of its member states with assistance of the ADB. Even that the program in general covers nine sectors like agriculture, energy, environment, human-resource development, investment, telecommunications, tourism, transport infrastructure, and transport and trade facilitation, we focus our considerations, mostly on the main objectives of the GMS program: the connectivity and competitiveness of the member regions, which can be achieved primarily through the improvement of transport infrastructure and trade facilitation. The GMS has been doing a great work of collaboration for economic integration which provides economic and social welfare to the people in the region. This leads to be long term economic growth and sustainable development. It provides a opportunity for low-developed and developing countries to improve their economic cooperation and growth, as well as the region.
International Journal of Environmental Research and Public Health, Jan 8, 2023
This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY
Deutscher Universitätsverlag eBooks, 1997
Jahrbucher Fur Nationalokonomie Und Statistik, 1997
ZusammenfassungHier wird ein Modell der Neuen Wachstumstheorie mit endogenem Fertilitätsverhalten... more ZusammenfassungHier wird ein Modell der Neuen Wachstumstheorie mit endogenem Fertilitätsverhalten betrachtet, um die Auswirkung eines Rentenversicherungssystems nach dem Umlageverfahren auf das Wirtschaftswachstum in Entwicklungsländern zu analysieren. Es zeigt sich, daß ein Umlageverfahren positive Wachstumswirkungen zeitigt. Grundlage des Ergebnisses ist, daß das Rentenversicherungssystem ein Substitut für eine intrafamiliäre Alterssicherung ist. Desweiteren spielen die Kosten der Kindererziehung eine wesentliche Rolle für den Wachstumsprozeß.
Deutscher Universitätsverlag eBooks, 1997
Deutscher Universitätsverlag eBooks, 1997
History of Economic Ideas, 2002
Governance of Innovation takes the multidimensional nature of innovation as its point of departur... more Governance of Innovation takes the multidimensional nature of innovation as its point of departure, bringing together leading scholars from a variety of backgrounds to provide an authoritative and comprehensive overview of contemporary innovation challenges.
In this paper we investigate the possible consequences of different institutional settings (in ca... more In this paper we investigate the possible consequences of different institutional settings (in casu the legal system) on externalities and their effect on the efficient allocation of externalities. We investigate whether the restriction of marginally low transaction costs can be relaxed if the legal system is efficient. In this context we define an efficient legal system as a system of rules such that the Coase theorem can be applied in the presence of non-marginally low transaction costs without loosing its efficiency properties. The basic idea is that a legal system should be such that a potential plaintiff has no incentive to enforce the law by going to court. To analyze the consequences of different law systems, we split the paper into two parts. In the first part we start by summarizing the model of Schweizer (1988) on the Coase theorem as a kind of reference point. The advantage of Schweizer’s (1988) model is that his interpretation is seen as clear and thorough. Therefore, this model will be used to highlight the important properties of the Coase’s theorem.
Journal of Risk and Financial Management
An increase in non-performing loans and bad debts in the banking sector can make banks vulnerable... more An increase in non-performing loans and bad debts in the banking sector can make banks vulnerable to a loss of confidence among customers and other banks and a banking collapse. The recent pandemic (COVID-19) and the evolving globalisation can affect bank operations, although the effects may depend on the type of banks and other bank-specific factors. In this paper, we revisit the topic on the determinants of non-performing loans of banks in a small island economy of Fiji over the period 2000 to 2022. We apply a fixed-effect method and consider seven banks (five commercial banks and two non-bank financial institutions). In our estimations, we examine the effect of bank-specific factors and control for the social and economic globalisation, the GFC, the COVID-19 pandemic, and bank-type effects, as well as the effect of the interaction between the bank type and the pandemic, as key contributions of the study. Overall, our results are consistent in terms of the effects noted from the b...
Panoeconomicus, 2023
We thank two anonymous reviewers and the editor for their helpful suggestions and recommendations... more We thank two anonymous reviewers and the editor for their helpful suggestions and recommendations. All remaining errors are ours.
Quality & Quantity, Feb 20, 2016
Can technology provide a glimmer of hope for economic growth in the midst of chaos? A case of Zim... more Can technology provide a glimmer of hope for economic growth in the midst of chaos? A case of Zimbabwe. Quality and Quantity, 51(2), pp. 919-939.
Accounting Research Journal, Jan 23, 2021
Purpose-This study aims to examine the determinants of bank stability based on three measures of ... more Purpose-This study aims to examine the determinants of bank stability based on three measures of bank stability while accounting for key bank-specific, macro-finance and structural variables. The aim is to underscore key indicators of stability that can be tracked by analysts, bank managers and regulators, especially in small economies such as Fiji. Design/methodology/approach-The sample comprises a balanced panel of seven banking and financial institutions over the period 2000-2018. For consistency of data and similar functions in terms of deposit and loans, this paper considers five commercial banks and two credit institutions in Fiji. A fixed-effect method of regression is applied, to control for bank heterogeneity. The dependent variable is bank stability, which is based on three measuresthe Z-score, the risk-adjusted return on assets and the risk-adjusted equity to assets ratio. Findings-It is noted that bank size, funding risk, credit risk and Herfindahl-Hirschman index are positively associated with bank stability. In the extended model, both inflation and economic growth are positively associated with bank stability, although only inflation is statistically significant. Moreover, factors having a negative association with bank stability are the liquidity risk, the net interest margin and the remittances inflow. Additionally, the domestically generated political crises of the years 2000 and 2006 and the global financial crisis of 2007-2008 are negatively associated with bank stability. Originality/value-This study empirically examines the determinants of bank stability in Fiji's banking sector. Unlike previous studies, this study considers three measures of stability, with z-score as the dominant measure and as explanatory variables, bank-specific, macro-finance and structural variables. The bank-specific data used in the study were hand-picked from the disclosure statements of banks and macro-finance data were extracted from the World Bank Indicators. The study underscores pertinent factors associated with bank stability in the small island economy of Fiji, which can be of interest to analysts, bankers, regulators and researchers in this domain.
Accounting Research Journal, Nov 6, 2017
Purpose This study aims to examine the impact of terrorism on return and systematic risk of Pakis... more Purpose This study aims to examine the impact of terrorism on return and systematic risk of Pakistan’s equity industries. Daily data from 1 January 2000 to 31 December 2014 for 12 industries based on the specific types of companies listed on Karachi Stock Exchange are used for the empirical analysis. Design/methodology/approach A multiplicative (additive) term is introduced in the standard capital asset pricing model to examine the change in systematic risk (industry returns) in response to the terrorist activities. The authors use the multiscale beta approach (Yamada, 2005) and the maximal overlap discrete wavelet transform (MODWT) to test the heterogeneous market hypothesis. Findings Terrorism activities increase the systematic risk for most of the industries and the negative impact on returns of banks and the financial industry. It is noted that terrorism positively impacts (increases) the industrial systematic risk mainly in short-run (between two and four days-time horizon). Originality/value The paper examines the impact of terrorism on a broad list of industries’ (banks, basic materials, chemicals, construction, consumer goods, consumer services, financials, industrials, minerals, oil and gas, textile and utilities) risk and return in Pakistan, using the multiscale beta approach (Yamada, 2005) and the MODWT methods.
This study examines the effect of tourism, measured by visitor arrivals) on the economic growth o... more This study examines the effect of tourism, measured by visitor arrivals) on the economic growth of Fiji, a small island economy, over the period 1975 to 2015. We use a neoclassical framework and regression analysis to examine the short-run and the long-run effects of tourism whilst accounting for structural breaks. We confirm the presence of a long-run association using the two-step procedure of Engle and Granger (1987) and the ARDL bounds test of Pesaran, Shin and Smith (2001). From the long-run results, we note that a 1% increase in visitor arrivals contribute about 0.22% to the GDP per capita. The short run elasticity is noted to be 0.19%. The study finds evidence of a unidirectional causality from economic growth to tourism, and mutually reinforcing effect between capital investment and tourism. Thus, we can expect greater impact of tourism on the economic growth through tourism related investment activities such as improvements in airports, roads, transportation, financial sector and telecommunications, and parks and beaches.
The Singapore Economic Review, Feb 25, 2019
In this study, we examine the asymmetric effects of terrorism and economic growth in Pakistan ove... more In this study, we examine the asymmetric effects of terrorism and economic growth in Pakistan over the period 1970–2016, while considering the role of capital per worker and structural breaks. We use the non-linear ARDL approach to establish the long-run association and to estimate the short-run and long-run effects accordingly. The results indicate the presence of asymmetries in both long and short run. Moreover, 1% decrease in terrorism results in an increase of per capita income by 0.02% in the long run and 0.001% in the short run. Assuming symmetry, the long run capital share is 0.47. In asymmetric relation, a 1% increase in capital share increases output by 0.55%, whereas a 1% decrease in capital stock decreases output by 0.26%. The break effects show that the years 1993 and 2004 have negative effects on growth. The vector error correction model-based causality results indicate a unidirectional causality from terrorism to per capita income. Overall, the results highlight that terrorism is growth retarding.
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Papers by Peter J. Stauvermann