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Prof. Sajid Anwar
University of the Sunshine Coast

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0 Cultural Analysis
0 R&D
0 FDI
0 International Trade and Finance

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Journal article
Published: 12 August 2021 in International Review of Economics & Finance
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Using a medium-size New Keynesian open economy model, we examine the issue of a prudent exchange rate policy when the economy encounters an adverse risk-premium shock. We show that the shock leads to terms of trade (ToT) deterioration and an increase in both the aggregate output and inflation. While examining the choice of an appropriate exchange rate policy to deal with the effects of the shock, analytical results of our baseline model show that neither a fully flexible nor a fully pegged exchange rate policy can yield the desired outcome. In the absence of the supply-side effects of ToT and a cost channel of monetary policy, a managed exchange rate policy can stabilize both domestic inflation and aggregate output. However, in the presence of either a cost channel of monetary policy or supply-side effects of the ToT or both, the central bank faces a trade-off between aggregate output and domestic inflation stabilization. We find that the presence of a cost channel of monetary policy gives rise to a pro-cyclical exchange rate policy. Simulation of a more general model suggests that, instead of using the conventional Taylor rule, the central bank should follow a ToT-augmented Taylor rule, which involves further monetary tightening as the ToT deteriorates. We find that the need for monetary tightening is linked to both the nominal and real rigidities in economy, which gives rise to increased exchange rate volatility. We also briefly consider the case of a productivity shock.

ACS Style

Syed Zahid Ali; Sajid Anwar. Risk-premium shocks and the prudent exchange rate policy. International Review of Economics & Finance 2021, 1 .

AMA Style

Syed Zahid Ali, Sajid Anwar. Risk-premium shocks and the prudent exchange rate policy. International Review of Economics & Finance. 2021; ():1.

Chicago/Turabian Style

Syed Zahid Ali; Sajid Anwar. 2021. "Risk-premium shocks and the prudent exchange rate policy." International Review of Economics & Finance , no. : 1.

Research article
Published: 17 May 2021 in Journal of Policy Research in Tourism, Leisure and Events
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This paper examines the role of financial and epidemic crises on tourism loyalty. Using monthly data from January 1978 to February 2016, our analysis shows that tourists arriving to Singapore from 11 countries (Australia, Canada, China, France, Germany, Hong Kong, India, Japan, Taiwan, the UK, and the US) exhibit evidence of tourism loyalty, suggesting that international tourists considered Singapore as a long-run attractive tourist destination. During the five subsample periods, representing the four most recent global financial and epidemic crises (the AFC, SARS, the GFC and H1-N1), we find evidence of transitory effect, suggesting that international tourists considered Singapore as an attractive tourism destination in the short-run. We argue that shocks generated by the financial and epidemic crises strongly contribute to the existence of the permanent loyalty evidence, and that such evidence is likely to be spurious.

ACS Style

Mohammad Al-Shboul; Sajid Anwar; Iman Akour. The role of financial and epidemic crises on tourism loyalty. Journal of Policy Research in Tourism, Leisure and Events 2021, 1 -34.

AMA Style

Mohammad Al-Shboul, Sajid Anwar, Iman Akour. The role of financial and epidemic crises on tourism loyalty. Journal of Policy Research in Tourism, Leisure and Events. 2021; ():1-34.

Chicago/Turabian Style

Mohammad Al-Shboul; Sajid Anwar; Iman Akour. 2021. "The role of financial and epidemic crises on tourism loyalty." Journal of Policy Research in Tourism, Leisure and Events , no. : 1-34.

Journal article
Published: 09 April 2021 in Energy Policy
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Market efficiency is distorted when retailers are unwilling to pass on changes in wholesale costs or the price of oil (as a major production input cost) to motorists. Existing approaches to measuring pass-through parameters may obscure such behaviour because of the use of fixed-parameter models and/or aggregated price data across different locations and brands over time. We contribute to the literature by examining if there is a mismatch between wholesale and retail petrol prices across different brands supplying unleaded petrol within the same geographical location. To do so, we examine the effects of upstream shocks, arising from changes in oil or wholesale petrol prices, on the retail petrol prices of 672 stations in Sydney, Australia's largest city. We find that the pass-through parameters are significantly lower for stations with fewer competitors in their immediate proximity. When there are fewer than 13 petrol stations within a 5-km radius, or 33 stations within 10 km, irrespective of their brand, they become increasingly less responsive to changes in the wholesale petrol price or the price of crude oil. Our findings enhance market transparency and provide regulators with a rule of thumb that allows them to monitor the unleaded petrol market more effectively.

ACS Style

Abbas Valadkhani; Sajid Anwar; Arezoo Ghazanfari; Jeremy Nguyen. Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney. Energy Policy 2021, 153, 112278 .

AMA Style

Abbas Valadkhani, Sajid Anwar, Arezoo Ghazanfari, Jeremy Nguyen. Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney. Energy Policy. 2021; 153 ():112278.

Chicago/Turabian Style

Abbas Valadkhani; Sajid Anwar; Arezoo Ghazanfari; Jeremy Nguyen. 2021. "Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney." Energy Policy 153, no. : 112278.

Journal article
Published: 02 April 2021 in Ecological Indicators
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We employ a nonparametric distribution dynamics approach to examine the long-run trend of particulate matter (PM2.5) air pollution in China. Analysis of the data from 288 Chinese prefectural and above (PAA) level cities over the 2001–2019 period shows evidence of convergence in the estimated long-run distribution of air pollution, which is consistent with Environmental Kuznets Curve hypothesis (EKC). However, presence of strong persistence suggests that convergence process takes considerable time. Conditioning analysis shows that China’s environment policy since 2013 has been successful in driving the air pollution in several cities to converge to a lower level. Furthermore, we uncover a poverty-environment trap in the estimated long-run distribution. Our analysis highlights the need for targeted environmental policies in heterogeneous city clusters in China. Lessons learned from China’s experience can also be useful to policy makers in other developing countries.

ACS Style

Jianxin Wu; Ziwei Feng; Sajid Anwar. Assessing the pollution convergence across Chinese cities by considering ecological indicators: A continuous distribution dynamics approach. Ecological Indicators 2021, 126, 107552 .

AMA Style

Jianxin Wu, Ziwei Feng, Sajid Anwar. Assessing the pollution convergence across Chinese cities by considering ecological indicators: A continuous distribution dynamics approach. Ecological Indicators. 2021; 126 ():107552.

Chicago/Turabian Style

Jianxin Wu; Ziwei Feng; Sajid Anwar. 2021. "Assessing the pollution convergence across Chinese cities by considering ecological indicators: A continuous distribution dynamics approach." Ecological Indicators 126, no. : 107552.

Research article
Published: 06 January 2021 in Environmental Science and Pollution Research
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Owing to the rising concerns about environmental degradation worldwide, firms in several developed and developing countries are pursuing carbon emission reduction targets. In addition, in recent years, there is evidence of a shift in consumer preferences in favour of low-carbon products. Using a theoretical model, where the shift in consumer preferences is explicitly incorporated, we evaluate the impact of carbon emission reduction cost-sharing on supply chain profit. In our model, consumers are willing to pay a higher price for low-carbon products and hence the retailer considers sharing the cost of carbon emission reduction with the manufacturer. Our model also includes a carbon trading mechanism. We identify a range of carbon emission reduction cost-sharing such that both supply chain enterprises are better-off. We find that, while achieving the aim of carbon emission reduction, consumer preference for low-carbon products can benefit both supply chain enterprises. Numerical simulations show that carbon emission reduction cost-sharing increases the retailer’s order quantity as well as the profit and hence there is an incentive for the two supply chain enterprises to cooperate.

ACS Style

Mei-Lian Liu; Zong-Huo Li; Sajid Anwar; Yun Zhang. Supply chain carbon emission reductions and coordination when consumers have a strong preference for low-carbon products. Environmental Science and Pollution Research 2021, 28, 19969 -19983.

AMA Style

Mei-Lian Liu, Zong-Huo Li, Sajid Anwar, Yun Zhang. Supply chain carbon emission reductions and coordination when consumers have a strong preference for low-carbon products. Environmental Science and Pollution Research. 2021; 28 (16):19969-19983.

Chicago/Turabian Style

Mei-Lian Liu; Zong-Huo Li; Sajid Anwar; Yun Zhang. 2021. "Supply chain carbon emission reductions and coordination when consumers have a strong preference for low-carbon products." Environmental Science and Pollution Research 28, no. 16: 19969-19983.

Research article
Published: 07 October 2020 in International Journal of Finance & Economics
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We explore the potential sources of slowdown in growth in a theoretical macroeconomic framework, from which we develop an empirical model consisting of a system of equations for the growth rate of GDP and the consumption share of GDP. Having estimated the basic model, we perform an extreme bounds analysis with a range of control variables as a robustness check on the results. In a sample of middle‐income countries, an increase in the consumption ratio appears to be negatively associated with economic growth; foreign direct investment is found to be significantly associated with both economic growth and the consumption ratio. On considering sub‐samples of Asian and Latin American countries, we find, in the Asian economies, that there is an inverted U‐shaped relationship between the consumption ratio and economic growth while, in the Latin American economies, there is an inverted U‐shaped relationship between the consumption ratio and growth but a U‐shaped relationship between the government spending ratio and economic growth. In both sub‐samples, the investment ratio is positively associated with growth.

ACS Style

Daping Zhao; Sajid Anwar; W. Robert J. Alexander. Sources of economic slowdown: A simultaneous equations approach. International Journal of Finance & Economics 2020, 1 .

AMA Style

Daping Zhao, Sajid Anwar, W. Robert J. Alexander. Sources of economic slowdown: A simultaneous equations approach. International Journal of Finance & Economics. 2020; ():1.

Chicago/Turabian Style

Daping Zhao; Sajid Anwar; W. Robert J. Alexander. 2020. "Sources of economic slowdown: A simultaneous equations approach." International Journal of Finance & Economics , no. : 1.

Journal article
Published: 13 August 2020 in The Singapore Economic Review
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Using panel data from China’s publicly listed companies (PLCs), this paper investigates the relationship between acquisitions and executive compensation. Empirical analysis based on panel regression reveals that acquisitions lead to a significant increase in executive compensation. Further evaluation, using disaggregated data, shows that acquisitions have a significant and positive impact of executive compensation of state-owned PLCs, but its effect on executive compensation paid by private-owned PLCs is statistically insignificant. The state-owned PLCs give less weight to financial performance compared with private-owned PLCs. State ownership and shareholding concentration increase the executive compensation, which gives rise to a principal–principal type problem. Moreover, using the generalized propensity score (GPS) methodology, which allows one to control for the presence of the selection bias, we find that the compensation-increasing effect of acquisitions for the top executive managers is higher than the effect for the top board directors. Finally, once the selection bias is taken into account, we find that acquisitions have almost no effect on the compensation of lower level executive managers and board directors, which suggests the presence of a principal–agent type problem in the two-tiered governance structure of the Chinese PLCs.

ACS Style

Lili Kang; Sajid Anwar; Fei Peng. OWNERSHIP STRUCTURE, ACQUISITIONS AND EXECUTIVE COMPENSATION: EVIDENCE FROM PUBLICLY LISTED CHINESE COMPANIES. The Singapore Economic Review 2020, 1 -31.

AMA Style

Lili Kang, Sajid Anwar, Fei Peng. OWNERSHIP STRUCTURE, ACQUISITIONS AND EXECUTIVE COMPENSATION: EVIDENCE FROM PUBLICLY LISTED CHINESE COMPANIES. The Singapore Economic Review. 2020; ():1-31.

Chicago/Turabian Style

Lili Kang; Sajid Anwar; Fei Peng. 2020. "OWNERSHIP STRUCTURE, ACQUISITIONS AND EXECUTIVE COMPENSATION: EVIDENCE FROM PUBLICLY LISTED CHINESE COMPANIES." The Singapore Economic Review , no. : 1-31.

Journal article
Published: 11 August 2020 in The North American Journal of Economics and Finance
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Based on data from 111 Chinese banks over the 2013–2016 period, this paper estimates the interbank bilateral lending matrix using the maximum entropy method. The estimated matrix is used to simulate the effects of credit and liquidity shocks on China’s banking network. Simulation results show that, under the extreme pressure scenario, the contagion arising from a liquidity shock is significantly stronger than the effect of a credit shock, indicating the importance of liquidity in the banking system. The contagion effect arising from a credit shock does not vary much over the sample period. However, the contagion effect arising from a liquidity shock decreases significantly, which could be attributed to contraction in interbank business due to stricter interbank business supervision. The simulation results also identify the most important and most vulnerable nodes of the banking system. An increase in the level of capital level can enhance the ability of banks to withstand credit and liquidity shocks. Our analysis also suggests that risk contagion faced by China’s banks varies across banking network structures.

ACS Style

Bing Chen; Li Li; Fei Peng; Sajid Anwar. Risk contagion in the banking network: New evidence from China. The North American Journal of Economics and Finance 2020, 54, 101276 .

AMA Style

Bing Chen, Li Li, Fei Peng, Sajid Anwar. Risk contagion in the banking network: New evidence from China. The North American Journal of Economics and Finance. 2020; 54 ():101276.

Chicago/Turabian Style

Bing Chen; Li Li; Fei Peng; Sajid Anwar. 2020. "Risk contagion in the banking network: New evidence from China." The North American Journal of Economics and Finance 54, no. : 101276.

Journal article
Published: 05 July 2020 in Iranian Journal of Public Health
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Background: Climate change is an alarming challenge for humanity at large due to its mediating role in emergence and spread of infectious diseases like cholera and malaria. This study was conducted to examine the effect of climate change and some socio-economic factors on incidence of infectious diseases. Methods: We used country level panel data over the 1990-2017 period using panel ARDL-PMG technique on highly affected countries from climate change. Results: There is a long run co-integrating relationship among climate change, socio-economic factors and prevalence of infectious diseases. Climate change, as measured by the temperature, is contributing to the spread of infectious diseases. Conclusion: This is the first study giving evidence of the impact of climate change on incidence of infectious diseases as can be seen from highly vulnerable countries to climate change. It is recommended to improve the level of education along with public health and town planning to reduce the incidence of infectious diseases.

ACS Style

Asim Anwar; Sajid Anwar; Muhammad Ayub; Faisal Nawaz; Shabir Hyder; Noman Khan; Imran Malik. Climate Change and Infectious Diseases; Evidence from Highly Vulnerable Countries. Iranian Journal of Public Health 2020, 1 .

AMA Style

Asim Anwar, Sajid Anwar, Muhammad Ayub, Faisal Nawaz, Shabir Hyder, Noman Khan, Imran Malik. Climate Change and Infectious Diseases; Evidence from Highly Vulnerable Countries. Iranian Journal of Public Health. 2020; ():1.

Chicago/Turabian Style

Asim Anwar; Sajid Anwar; Muhammad Ayub; Faisal Nawaz; Shabir Hyder; Noman Khan; Imran Malik. 2020. "Climate Change and Infectious Diseases; Evidence from Highly Vulnerable Countries." Iranian Journal of Public Health , no. : 1.

Article
Published: 03 July 2020 in Journal of Economics and Finance
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We use a unique microdata set that covers the 1984–2009 period to estimate real wage flexibility in Eastern and Western parts of Germany. Empirical analysis reveals that wages of male job stayers in the Eastern and Western parts of Germany are rigid, which leads to significant wage flexibility for internal and external movers. At the aggregate level, wages of the external movers are more flexible than the wages of job stayers in bust periods (when labour market is slack) and more rigid than the wages of job stayers in boom periods (when labour market is tight). In overall terms, the West German labour market is mature but conditions in the East German labour market are consistent with transition economies. Wage flexibility in Germany’s labour market can be attributed to relatively more flexible wages of the external and internal movers in a slack labour market.

ACS Style

Fei Peng; Sajid Anwar; Lili Kang. Job Movement and Real Wage Flexibility in Eastern and Western Parts of Germany. Journal of Economics and Finance 2020, 44, 764 -789.

AMA Style

Fei Peng, Sajid Anwar, Lili Kang. Job Movement and Real Wage Flexibility in Eastern and Western Parts of Germany. Journal of Economics and Finance. 2020; 44 (4):764-789.

Chicago/Turabian Style

Fei Peng; Sajid Anwar; Lili Kang. 2020. "Job Movement and Real Wage Flexibility in Eastern and Western Parts of Germany." Journal of Economics and Finance 44, no. 4: 764-789.

Research article
Published: 25 June 2020 in Applied Economics
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The relationship between macroeconomic uncertainty and entrepreneurial activities has been the subject of intense debate among researchers. However, existing empirical studies report mixed findings. By examining the mediating role of cultural traits, we attempt to reconcile the conflicting results concerning the direction of the relationship between macroeconomic uncertainty and entrepreneurial activities. Specifically, we argue that the effect of macroeconomic uncertainty on entrepreneurial activities varies across the cultural trait of uncertainty avoidance. In countries where the prevailing culture is overwhelmingly characterized by low uncertainty avoidance, macroeconomic uncertainty is positively associated with entrepreneurial activities. By contrast, in countries where the prevailing culture is overwhelmingly characterized by high uncertainty avoidance, macroeconomic uncertainty is negatively related to entrepreneurial activities. Using data on 36 countries over the 2006–2016 period and employing the negative binomial regression technique, we find empirical support for our hypotheses. A series of robustness tests confirm the reliability of our empirical results.

ACS Style

Zhaobin Fan; Yongli Cheng; Sajid Anwar. Macroeconomic uncertainty, cultural traits and entrepreneurship. Applied Economics 2020, 52, 5639 -5652.

AMA Style

Zhaobin Fan, Yongli Cheng, Sajid Anwar. Macroeconomic uncertainty, cultural traits and entrepreneurship. Applied Economics. 2020; 52 (51):5639-5652.

Chicago/Turabian Style

Zhaobin Fan; Yongli Cheng; Sajid Anwar. 2020. "Macroeconomic uncertainty, cultural traits and entrepreneurship." Applied Economics 52, no. 51: 5639-5652.

Special issue article
Published: 19 May 2020 in Review of Development Economics
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This paper examines the link between the emigration of entrepreneurs and the emergence of economic development traps, which has not received much attention in the existing literature. We develop a theoretical model, where the economy is divided into a traditional and a modern sector. Entrepreneurs establish firms in the modern sector to produce varieties of differentiated goods. Positive spillover effects exist in the modern sector. We show that the emigration of entrepreneurs can cause economic development traps, where the productivity of the modern sector remains low, and more importantly, the economy is stuck in the traditional structure. In the typical case, the development traps exhibit strong history dependence. Under certain conditions, regardless of the initial endowment of entrepreneurs, economic development traps are unavoidable. By examining the effect of government policy intervention to correct the market failure arising from spillover effects, our study also provides a theoretical foundation for government policies used by some developed countries to attract foreign entrepreneurs.

ACS Style

Zhaobin Fan; Sajid Anwar. International migration of entrepreneurs and the emergence of economic development traps. Review of Development Economics 2020, 25, 6 -22.

AMA Style

Zhaobin Fan, Sajid Anwar. International migration of entrepreneurs and the emergence of economic development traps. Review of Development Economics. 2020; 25 (1):6-22.

Chicago/Turabian Style

Zhaobin Fan; Sajid Anwar. 2020. "International migration of entrepreneurs and the emergence of economic development traps." Review of Development Economics 25, no. 1: 6-22.

Research article
Published: 23 January 2020 in Tourism Economics
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In recent years, significant work has emerged exploring the relationship between tourism and mining. Generally, the relationship is considered to be negative, the result of crowding out of tourism during mining booms. However, the relationship is likely to be more complicated with mining affecting tourism both directly and indirectly. The indirect effects arise from the mediation role played by foreign direct investment (FDI), governance quality, trade and the real exchange rate. To verify this hypothesis, this article uses an unbalanced panel data set that covers 190 countries over the 2002–2017 period. A structural equation model is used to account for the mediating relationships. The results show a direct negative relationship between natural resource intensity and international tourist arrivals, as well as indirect positive relationship mediated by FDI partially offset by an indirect negative relationship mediated by governance.

ACS Style

Char-Lee Moyle; Fabrizio Carmigani; Brent Moyle; Sajid Anwar. Beyond Dutch Disease: Are there mediators of the mining–tourism nexus? Tourism Economics 2020, 27, 744 -761.

AMA Style

Char-Lee Moyle, Fabrizio Carmigani, Brent Moyle, Sajid Anwar. Beyond Dutch Disease: Are there mediators of the mining–tourism nexus? Tourism Economics. 2020; 27 (4):744-761.

Chicago/Turabian Style

Char-Lee Moyle; Fabrizio Carmigani; Brent Moyle; Sajid Anwar. 2020. "Beyond Dutch Disease: Are there mediators of the mining–tourism nexus?" Tourism Economics 27, no. 4: 744-761.

Articles
Published: 11 October 2019 in Emerging Markets Finance and Trade
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Value-added tax (VAT) rebate policy plays an important role in China’s export growth strategy. In this paper, we extended the existing model by introducing the micro-mechanism of VAT rebates into their original framework. This extended model allows us to investigate the economic effect of VAT rebate policy. Our theoretical model suggests that, in the short term, raising the VAT rebate rate may decrease the price as well as the quantity of exports. To empirically examine our conclusions based on the theoretical model, we employ the provincial-level panel data on China covering the period 2012–2017 to analyze the role of VAT policy on exports from China’s mechanical goods industry. To address the issue of potential endogeneity, we adopt a propensity score matching (PSM) technique. Our empirical findings based on the panel data confirm that VAT rebates had a significantly negative effect on China’s mechanical goods exports. In particular, on average, a one-percentage-point increase in the VAT rebate rate decreases exports by 2.07%. Our results are robust to alternative bandwidths. Areas for future research are also identified.

ACS Style

Litan Wang; Sajid Anwar. VAT Rebate Policy and Export Performance: A Case Study of China’s Mechanical Goods Industry. Emerging Markets Finance and Trade 2019, 1 -15.

AMA Style

Litan Wang, Sajid Anwar. VAT Rebate Policy and Export Performance: A Case Study of China’s Mechanical Goods Industry. Emerging Markets Finance and Trade. 2019; ():1-15.

Chicago/Turabian Style

Litan Wang; Sajid Anwar. 2019. "VAT Rebate Policy and Export Performance: A Case Study of China’s Mechanical Goods Industry." Emerging Markets Finance and Trade , no. : 1-15.

Journal article
Published: 27 August 2019 in The North American Journal of Economics and Finance
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This paper highlights the importance of services trade liberalization. It is well-known that there is a strong relationship between the level of economic development of a country and the quality of its export basket. Since the pioneering work of Hausmann, Hwang, and Rodrik (2007), several studies have attempted to identify the determinants of export sophistication. In this paper, based on the existing literature, we argue that restrictiveness of services sector trade can have a negative impact on the level of export sophistication. Using panel data from 36 countries over the 2005-2014 period, we show that the impact of services sector trade restrictiveness on export sophistication is negative and statistically significant. We find that this negative effect has increased in the post-2007 period. Furthermore, restrictiveness of trade in modern services is relatively more detrimental to manufacturing export sophistication. A series of endogeneity and robustness tests confirm the reliability of our main empirical result. Our analysis suggests that services sector trade liberalization can also be used as a development strategy by developing countries.

ACS Style

Xiaoyan Su; Sajid Anwar; Ying Zhou; Xuan Tang. Services trade restrictiveness and manufacturing export sophistication. The North American Journal of Economics and Finance 2019, 51, 101058 .

AMA Style

Xiaoyan Su, Sajid Anwar, Ying Zhou, Xuan Tang. Services trade restrictiveness and manufacturing export sophistication. The North American Journal of Economics and Finance. 2019; 51 ():101058.

Chicago/Turabian Style

Xiaoyan Su; Sajid Anwar; Ying Zhou; Xuan Tang. 2019. "Services trade restrictiveness and manufacturing export sophistication." The North American Journal of Economics and Finance 51, no. : 101058.

Journal article
Published: 16 May 2019 in The North American Journal of Economics and Finance
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This paper examines the relationships between competition, efficiency and stability in the banking systems of four East Asian countries (China, Hong Kong, Malaysia and Vietnam) over 2004–2014. The results support the traditional competition–fragility view and suggest that an increase in competition may result in a decrease in stability. Similarly, credit risk, bank size and market concentration may positively affect bank stability. By contrast, banks with higher liquidity risk and revenue diversification may become less stable. Empirical analysis suggests that banking sector stability was adversely affected by the global financial crisis. Listed banks may be less stable than their non-listed peers. The macroeconomic environment (measured in terms of inflation and GDP growth) also affects bank stability. Additionally, some important policy implications with respect to improving bank stability are recommended.

ACS Style

Hien Thu Phan; Sajid Anwar; W. Robert J. Alexander; Hanh Thi My Phan. Competition, efficiency and stability: An empirical study of East Asian commercial banks. The North American Journal of Economics and Finance 2019, 50, 100990 .

AMA Style

Hien Thu Phan, Sajid Anwar, W. Robert J. Alexander, Hanh Thi My Phan. Competition, efficiency and stability: An empirical study of East Asian commercial banks. The North American Journal of Economics and Finance. 2019; 50 ():100990.

Chicago/Turabian Style

Hien Thu Phan; Sajid Anwar; W. Robert J. Alexander; Hanh Thi My Phan. 2019. "Competition, efficiency and stability: An empirical study of East Asian commercial banks." The North American Journal of Economics and Finance 50, no. : 100990.

Regular article
Published: 08 May 2019 in Review of Development Economics
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The existing literature suggests that it is important to understand the factors that may slow the transition of an economy from middle to high income. Many factors have been suggested as promoting or retarding economic growth, but little attention has been paid to the roles of the capital account and consumption ratio. Using panel regressions involving 48 countries over the 1950–2013 period as well as employing extreme bounds analysis, we find that foreign investment outflows are associated with a mature economy and that there is an optimal consumption ratio that must be surpassed to break out of middle‐income status. These findings are robust to an extreme bounds analysis incorporating a wide range of variables potentially related to growth performance.

ACS Style

Daping Zhao; Sajid Anwar; W. Robert J. Alexander. Capital account flows, consumption ratios and the middle‐income trap. Review of Development Economics 2019, 23, 1459 -1476.

AMA Style

Daping Zhao, Sajid Anwar, W. Robert J. Alexander. Capital account flows, consumption ratios and the middle‐income trap. Review of Development Economics. 2019; 23 (3):1459-1476.

Chicago/Turabian Style

Daping Zhao; Sajid Anwar; W. Robert J. Alexander. 2019. "Capital account flows, consumption ratios and the middle‐income trap." Review of Development Economics 23, no. 3: 1459-1476.

Journal article
Published: 11 January 2019 in Economic Analysis and Policy
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In recent years, the Chinese government has committed additional resources in promoting research and development (R&D). At the same time, China has started implementing a more targeted foreign direct investment (FDI) policy. Using firm level panel data from China’s iron ore mining industry, this paper aims to evaluate the performance differences between the firms that undertake R&D and those who do not. We also examine the role of FDI, which has not been the subject of an in-depth investigation. In addition, we use a relatively recently developed coarsened exact matching technique. We find that domestic firms in China’s iron ore mining industry that conduct R&D are on average 0.3937% more productive and their sales are 0.0253% higher. While this industry attracts less than 1% of the total FDI in China, FDI has a positive and sizable impact on both productivity and profitability of domestic firms in China’s iron ore mining industry. The results presented in this paper suggest that investment in China’s iron ore mining industry offers attractive returns to foreign investors.

ACS Style

Sizhong Sun; Sajid Anwar. R&D activities and FDI in China’s iron ore mining industry. Economic Analysis and Policy 2019, 62, 47 -56.

AMA Style

Sizhong Sun, Sajid Anwar. R&D activities and FDI in China’s iron ore mining industry. Economic Analysis and Policy. 2019; 62 ():47-56.

Chicago/Turabian Style

Sizhong Sun; Sajid Anwar. 2019. "R&D activities and FDI in China’s iron ore mining industry." Economic Analysis and Policy 62, no. : 47-56.

Preprint
Published: 11 January 2019 in SSRN Electronic Journal
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In recent years, the Chinese government has committed additional resources in promoting research and development (R&D). At the same time, China has started implementing a more targeted foreign direct investment (FDI) policy. Using firm level panel data from China’s iron ore mining industry, this paper aims to evaluate the performance differences between the firms that undertake R&D and those who do not. We also examine the role of FDI, which has not been the subject of an in-depth investigation. In addition, we use a relatively recently developed coarsened exact matching technique. We find that domestic firms in China’s iron ore mining industry that conduct R&D are on average 0.3937% more productive and their sales are 0.0253% higher. While this industry attracts less than 1% of the total FDI in China, FDI has a positive and sizable impact on both productivity and profitability of domestic firms in China’s iron ore mining industry. The results presented in this paper suggest that investment in China’s iron ore mining industry offers attractive returns to foreign investors.

ACS Style

Sizhong Sun; Sajid Anwar. R&D Activities and FDI in China’s Iron Ore Mining Industry. SSRN Electronic Journal 2019, 1 .

AMA Style

Sizhong Sun, Sajid Anwar. R&D Activities and FDI in China’s Iron Ore Mining Industry. SSRN Electronic Journal. 2019; ():1.

Chicago/Turabian Style

Sizhong Sun; Sajid Anwar. 2019. "R&D Activities and FDI in China’s Iron Ore Mining Industry." SSRN Electronic Journal , no. : 1.

Journal article
Published: 04 January 2019 in Energy
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Much of the current literature that deals with the effect of urbanization on energy demand focuses only on a specific region or a single country. This research extends the current literature by concentrating on a sample of countries containing developed and emerging countries. Our study inspect for those countries the impacts of urbanization and other key determinants on demand of non-renewable energy during the period 1980–2014. In addition, this empirical research employs an advanced heterogeneous panel techniques such as Augmented Mean Groups (AMG). Our empirical results suggest that a one percent rises in urbanization rises the consumption of non-renewable energy by 0.72%. We find that (as compared to the effect of factors such as the GDP and the price of oil) urbanization has the largest effect on non-renewable energy demand.

ACS Style

Zouhair Mrabet; Mouyad Alsamara; Ali Salman Saleh; Sajid Anwar. Urbanization and non-renewable energy demand: A comparison of developed and emerging countries. Energy 2019, 170, 832 -839.

AMA Style

Zouhair Mrabet, Mouyad Alsamara, Ali Salman Saleh, Sajid Anwar. Urbanization and non-renewable energy demand: A comparison of developed and emerging countries. Energy. 2019; 170 ():832-839.

Chicago/Turabian Style

Zouhair Mrabet; Mouyad Alsamara; Ali Salman Saleh; Sajid Anwar. 2019. "Urbanization and non-renewable energy demand: A comparison of developed and emerging countries." Energy 170, no. : 832-839.