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Article
Publication date: 21 October 2019

Nadia Tahir and Pervez Tahir

This paper aims to explain the empirical relationship between competitiveness and economic growth in a globalizing world. In recent times, the advanced economies have experienced…

307

Abstract

Purpose

This paper aims to explain the empirical relationship between competitiveness and economic growth in a globalizing world. In recent times, the advanced economies have experienced a slowdown of growth, whereas the BRICS countries continue to experience high growth. The authors explore the following question: Does competitiveness of nations’ degree of competition explains this differential in growth? The authors explore competiveness and growth in a macroeconomic perspective for the large economies in the OECD and BRICS countries.

Design/methodology/approach

The authors use dynamic panel data modelling technique to find the relationship between competitiveness and economic growth. This technique enables to control heterogeneity problem of this group to some extent. The focus variable of this study is annual GDP growth rate for the period 2007-2017. The proxies for measuring competitiveness in this paper are trade as percentage of GDP, product market regulation, unit labour cost and global competitive index. Innovation prevalence of foreign ownership, efficiency, competition, state of cluster development, venture capital availability, extent of market, research and development expenditure as percentage of the GDP mergers and acquisitions and multifactor productivity are the control variables.

Findings

The authors find that the degree of competitiveness competition is less likely to impact economic growth in the OECD countries because they have more or less similar competitive environment. Innovation, extent of market and state of cluster development and venture capital availability explaining growth differential. Increased competition is likely to affect growth negatively. This explains the oligopolistic structures of the world economy. However, the BRICS countries vary significantly in competitive environment. This is the reason of volatility in their growth. The conclusion is that competitiveness is important for sustained growth. Competitiveness is, however, an outcome of a set of policies, not a policy itself.

Research limitations/implications

Productivity data for OECD and BRICS countries are not available. Various series are not comparable. OECD countries have discontinued yearly unit labour cost series, and high frequency series are available but no such series for BRICS exists.

Practical implications

First, this paper proposes that wage growth, measured by the unit labour cost growth rate, is an important determinant of competitiveness amongst the nations. Wage growth is falling short of productivity growth in the OECD countries. This has implications for the long run sustainability of growth, skill development and inequalities in the region. Since 2011, world economic recovery is slow. Wage growth is imperative for generating sufficient private demand in the OECD countries. Second, this paper provides evidence that competitiveness is important for explaining growth in the OECD and the BRICS countries. However, it also highlights that competitiveness can be measured effectively by the trade differential or with the help of unit labour cost. Unaligned real effective exchange rate in terms of unit labour costs is the real cause of the problem.

Originality/value

Research in this area is still in infancy. This research finds that how competitiveness affects growth. A more competitive nation can sell more, but not necessarily grow rapidly. In development process, growth comes first, and at the latter stages, countries have to introduce effective reforms for competitiveness. This is the effect of competitiveness on growth by comparing various indexes.

Details

Competitiveness Review: An International Business Journal , vol. 29 no. 5
Type: Research Article
ISSN: 1059-5422

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Book part
Publication date: 22 November 2024

Hend Sameh Hafez Hassan, Ahmed Abdelkader and Oualid Abidi

The concept of smart cities, driven by advancements in innovative information and communication technologies (ICTs), has gained significant attention in recent years. Smart cities…

Abstract

The concept of smart cities, driven by advancements in innovative information and communication technologies (ICTs), has gained significant attention in recent years. Smart cities aim to improve the quality of life for citizens by leveraging ICT to enhance the efficiency and effectiveness of urban services and infrastructure. One critical aspect of smart cities development is advanced innovations in water management, which play a vital role in achieving sustainability, prosperity of community and ensuring the availability of clean water resources. This chapter explores the relationship between advanced water management and smart cities development and highlights the synergies and benefits that arise from their integration. The chapter develops a framework for adopting innovative ICTs that support the gradual transformation toward next generation smart cities in the Gulf Cooperation Council (GCC) region. Such transformation aligns with the United Nations’ sustainable development goals (SDGs) and the maintenance of various social, economic, and environmental developments. The chapter begins by discussing the fundamental principles of smart cities and the role of advanced sensing technologies in enabling efficient and automated processes within urban environments. It then delves into the concept of water-sensitive cities, the importance of urban water mass balance analysis in designing sustainable water management strategies, and the emerging trends in water management. Furthermore, the chapter explores the integration of smart program management and the role of citizen engagement in the design and development of smart cities in the GCC countries and finally challenges and concerns facing these programs.

Details

The Emerald Handbook of Smart Cities in the Gulf Region: Innovation, Development, Transformation, and Prosperity for Vision 2040
Type: Book
ISBN: 978-1-83608-292-7

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Article
Publication date: 9 November 2022

Muhammad Saleem Korejo, Erum Naseer Korejo, Ramalinggam Rajamanickam, Muhamad Helmi Md. Said and Nazir Ullah

This paper aims to provide an analysis of National Accountability Ordinance 1999 (NAO) after June 2022 amendments. It raises a key question whether the new legislation is…

162

Abstract

Purpose

This paper aims to provide an analysis of National Accountability Ordinance 1999 (NAO) after June 2022 amendments. It raises a key question whether the new legislation is effective and improves anti-corruption operating system in Pakistan.

Design/methodology/approach

This paper performs an analysis of recent amendments incorporated in NAO from the observations of superior courts, United Nations Corruption Convention and Financial Action Task Force (FATF) guidelines and also evaluates new legislation in terms of effectiveness in anti-corruption campaign.

Findings

This paper finds that ample amendments are inessential, and thus may largely jeopardize accountability process; changes appear to be intentionally crafted to benefit some selected group of people: the definition of asset is compressed; the onus of proof is shifted on the informer; and provisions of money trail, foreign evidence and protection of approver are abolished; such changes defy to the UN Corruption Convention and FATF guidelines. A legislation endorsed from all stakeholders is suggested; additionally, improved strategies proposed to strengthen accountability process while keeping in view the constitutional issues relevant in the course of anti-corruption investigations.

Originality/value

This paper is unique in the context of the anti-corruption strategies in Pakistan, highlighting the legal laxness of new government regarding corruption and money laundering.

Details

Journal of Financial Crime, vol. 30 no. 5
Type: Research Article
ISSN: 1359-0790

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Book part
Publication date: 15 February 2008

William W. Cooper and Piyu Yue

Abstract

Details

Challenges of the Muslim World
Type: Book
ISBN: 978-0-444-53243-5

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Abstract

Details

Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview
Type: Book
ISBN: 978-1-80043-786-9

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Article
Publication date: 31 August 2022

Malik Fahim Bashir, Taimur Khan, Yasir Bin Tariq and Muhammad Akram

This study aims to estimate the magnitude of capital flight from Pakistan. Furthermore, it analyzes the impact of capital flight on the economic growth of Pakistan in the short…

266

Abstract

Purpose

This study aims to estimate the magnitude of capital flight from Pakistan. Furthermore, it analyzes the impact of capital flight on the economic growth of Pakistan in the short and long run.

Design/methodology/approach

This study uses the World Bank’s residual method to estimate the magnitude of capital flight from Pakistan during 1976–2018. This study used the autoregressive distributed lag (ARDL) approach to estimate the effect of capital flight on the economic growth of Pakistan.

Findings

ARDL results revealed a negative and statistically significant relationship between different measures of capital flight and economic growth in the long run. However, this relationship is not statistically significant in the short run. After correction for external borrowing and trade misinvoicing, this study finds that the total capital flight from Pakistan during the study period amounted to US$333bn (in 2010 dollars). With accrued interest earnings, the stock of capital amounted to US$124,768bn, significantly higher than the accumulated stock of long-term debt, which amounted to US$1,231bn during the study period indicating that Pakistan faces a severe challenge of capital flight.

Originality/value

This study calculates the magnitude of capital flight from Pakistan for the first time. Furthermore, this study also calculates the magnitude of capital flight for military and democratic regimes. This study suggests many policy proposals to deal with the challenge of capital flight.

Details

Journal of Money Laundering Control, vol. 26 no. 6
Type: Research Article
ISSN: 1368-5201

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Available. Content available
Article
Publication date: 1 October 2006

801

Abstract

Details

Disaster Prevention and Management: An International Journal, vol. 15 no. 5
Type: Research Article
ISSN: 0965-3562

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Article
Publication date: 2 August 2021

Abba Tahir Mahmud, Stephen O. Ogunlana and W.T. Hong

Empirical evidence suggests that many triggers influence poor cost performance in highway projects, whereas previous studies about the cost overrun triggers stem from a positivist…

405

Abstract

Purpose

Empirical evidence suggests that many triggers influence poor cost performance in highway projects, whereas previous studies about the cost overrun triggers stem from a positivist standpoint supported by conventional statistical techniques, thus disregarding the sophisticated interactions and overall dynamics of the triggers. This study contends for a paradigm shift in investigating and understanding cost overrun triggers by adopting a holistic perspective through the lens of system thinking. This study aims to contend for a paradigm shift in investigating and understanding cost overrun triggers by adopting a holistic perspective through the lens of system thinking.

Design/methodology/approach

Semi-structured interviews with industry stakeholders in Nigeria were conducted buttressed by textual data from literature sources and project documents. Data analysis based on a developed data compatible coding framework and causal relations from textual data sources was used to develop a causal loop diagram depicting the interactions of the triggers which were validated by experts.

Findings

The analysis of the causal loop diagrams (CLDs) allowed identification of action points used to suggest changes for improved cost-effective highway project delivery. Among the suggested interventions are ensuring the provision of adequate funding prior to contract award will result in timely delivery of projects and indeed delivering key projects at the contractual agreed budget. This can be achieved through ensuring strict adherence to the provisions of Section 4 (2) (b) of the Nigerian Public Procurement Act, 2007 which stipulates that no contract should be awarded if funds are not available from the onset.

Research limitations/implications

The study was limited to only highway infrastructure projects in Nigeria and as such caution must be taken before using the outcome of the study to other context within Nigeria and beyond.

Practical implications

From a practical point of view, the causal model demonstrates that this study is capable of being used to make pragmatic decisions regarding policy leverages about improving cost performance in highway projects provision in the Nigerian highway infrastructure sector of the construction industry. Moreover, it will aid a clear understanding of the key influencing triggers of cost overrun by the relevant stakeholders within the highway sector of the industry.

Originality/value

The hybrid-based approach applied in the development of CLDs in this study is expected to provide new insight into understanding the linkages, interactions, feedbacks and processes among the key cost overrun triggers and suggesting leverages for cost performance improvement within the philosophy of system thinking.

Details

Journal of Financial Management of Property and Construction , vol. 27 no. 1
Type: Research Article
ISSN: 1366-4387

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Article
Publication date: 23 December 2022

Isah Umar Kibiya, Mustapha Usman, Shafi'u Abubakar Kurfi and Kabir Tahir Hamid

This study aims to analyse the level of awareness and knowledge of Islamic accounting among accounting students in the Nigerian universities. Furthermore, the study also compares…

317

Abstract

Purpose

This study aims to analyse the level of awareness and knowledge of Islamic accounting among accounting students in the Nigerian universities. Furthermore, the study also compares the students’ understanding of Islamic and conventional accounting.

Design/methodology/approach

The study used survey research design through the administration of questionnaire on a sample of university undergraduate and post-graduate accounting students across the north-west region in Nigeria. The data generated for the study was analysed using Cronbach’s alpha, mean, standard deviation and inferential statistics.

Findings

The study found that the accounting students have an adequate awareness and basic knowledge of Islamic accounting as they were able to contrast Islamic accounting from conventional accounting. Also, in their aspiration towards learning Islamic accounting, they agreed that Islamic accounting should be made a compulsory course in accounting curriculum.

Research limitations/implications

This study focusses on north-west region of Nigeria. Hence, data and more in-depth analysis can be further improved by considering a whole country as diverse as Nigeria. Also, only a questionnaire was used by the study. Hence, further studies can use face-to-face interviews to fully extract the awareness and knowledge of the target respondents. Lastly, majority of the respondents are Muslims given the area where the study was conducted, hence, non-Muslims are not properly represented.

Practical implications

Despite its limitations, this study is still of importance in providing insights on both undergraduate and post-graduate students’ level of awareness and knowledge of Islamic accounting. This course is unique as it is different in orientation compared with other existing courses on offer. This paper also provides an invaluable insight, therefore, National University Commission of Nigeria, Islamic institutions and professional bodies like Institute of Chartered Accountants of Nigeria and Association of National Accountants of Nigeria should make continues effort towards promoting the awareness and knowledge of Islamic accounting by properly integrating same into academic and professional curricula and other training and sensitisation programs. In doing so, Islamic accounting subjects could be introduced as independent courses for selection by the student. Courses like Islamic Accounting and Finance, Accounting for Islamic Financial Institutions (IFIs), Accounting for Waqf, Accounting for Zakat, Shariah auditing, Corporate Shariah Governance, Education and Ethics could be introduced across levels to enable students learn more of Islamic accounting.

Social implications

Proper integration of Islamic accounting into academic and professional courses would greatly contribute to the production of experts most importantly ethical and God-fearing accountants for the growth and development of IFIs in Nigeria.

Originality/value

This paper examines Nigerian university undergraduate and post-graduate students’ level of awareness and knowledge of Islamic accounting in the north-west region of Nigeria.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 7
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 26 July 2021

Abba Tahir Mahmud, Stephen O. Ogunlana and W.T. Hong

Extensive research towards identifying the attributable cost overrun factors globally has been conducted predominantly from a survey-oriented perspective, which disregard the…

648

Abstract

Purpose

Extensive research towards identifying the attributable cost overrun factors globally has been conducted predominantly from a survey-oriented perspective, which disregard the contextual basis on which these triggers manifest. This study aims to explore the driving factors of cost overrun in highway projects, specific to the Nigerian context.

Design/methodology/approach

The research used a context-based approach to seek project stakeholders’ perspectives on the key drivers of cost overrun in highway projects in Nigerian. Semi-structured interviews were conducted with client, contractor and consultant organisations involved in the provision of highway infrastructure projects in Nigeria. The collected data was analysed using a developed coding framework grounded on a case study approach, principles of inductive thematic analysis and saliency analysis to identify the key drivers.

Findings

Findings from the analysis identified triggers from macroeconomic, societal, leadership and project management perspectives with synergistic relationships with each other based on prevalence and significance. Among the key triggers is a delay in work progress, political instability, adverse weather, social issues, delay in progress payment to contractors and modification of project scope. In conclusion, the triggers of cost overrun in highway projects are contextually driven by the complex nature of the project management, societal, macroeconomic and leadership triggers specific to the Nigerian context.

Research limitations/implications

The research was limited to only highway infrastructure projects in Nigeria. Furthermore, the findings are based on a small sample size, and thus, caution must be taken before applying the outcome of this study in a generalised way to other contexts.

Practical implications

Practically, the stakeholders i.e. client, contractors and consultants should acknowledge the contextual circumstances in which each of the triggers takes place, which will aid in developing pragmatic measures and make the right decisions towards addressing these triggers during any highway construction project in Nigeria and enhance the chances of project success.

Originality/value

The context-based approach applied in this study is expected to provide a new insight in understanding the triggers of cost overruns, especially in highway projects in Nigeria and indeed other developing countries with similar governance characteristics

Details

Journal of Engineering, Design and Technology , vol. 19 no. 6
Type: Research Article
ISSN: 1726-0531

Keywords

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