This paper investigates the nexus among employment, labor productivity and trade openness in Brazil, Russia, India, China, South Africa (BRICS), and Indonesia using annual data (1991–2018). The results suggest a long-run relationship among the variables but only in the agricultural sector of these economies. We also find a unidirectional causality running from employment to productivity in on…
In this study, we examine the role of export diversification in the convergence of per capita income (output). By applying the dynamic system Generalized Method of Moments (GMM) estimator to a panel dataset consisting of 95 countries, we find evidence of both absolute and conditional divergence for the full sample and the subsamples based on income and regions. Thus, our findings suggest that, …
This paper investigates the impact of innovation on the performance of selected manufacturing firms in India over the period 2008-2017. Specifically, we emphasize on the role of innovation outcomes in terms of number of patents on firms? performance and consider total factor productivity growth, firms? growth in terms of total gross sales, and profitability as indicators of firm performance. Th…
This study measures the competitiveness of Indian manufacturing industries by covering 650 firms from 11 industries using the composite index approach. Firms are classified into two broad groups based on labor-capital intensity and ownership. The study found that capital-intensive industries are more competitive than labor-intensive industries. With regards to ownership of firms, the study find…
Although there is a plethora of studies which examine the impact of the COVID-19 pandemic on India?s financial sector, we contribute by investigating the effect of the ongoing COVID-19 pandemic on stock returns of Indian pharmaceutical companies. By employing an event study methodology, our results indicate that the average returns of the pharmaceutical sector are positive during the COVID-19 p…
This paper investigates the nexus among employment, labor productivity and trade openness in Brazil, Russia, India, China, South Africa (BRICS), and Indonesia using annual data (1991?2018). The results suggest a long-run relationship among the variables but only in the agricultural sector of these economies. We also find a unidirectional causality running from employment to productivity in only…
In this study, we examine the role of export diversification in the convergence of per capita income (output). By applying the dynamic system Generalized Method of Moments (GMM) estimator to a panel dataset consisting of 95 countries, we find evidence of both absolute and conditional divergence for the full sample and the subsamples based on income and regions. Thus, our findings suggest that, …
This paper examines the productivity convergence of the five original Association of Southeast Asian Nations (ASEAN) countries, namely Indonesia, Malaysia, Philippines, Singapore, and Thailand (ASEAN-5), using annual data spanning the period 1968 to 2014. Results from two-break Lagrange multiplier and residual augmented least squares Lagrange multiplier unit root tests reveal strong evidence of…
This paper investigates, using annual data from 1980 to 2014, whether adoption of information and communication technologies (ICT) fosters economic growth in Indonesia. We employ an Autoregressive Distributed Lag cointegration technique on an augmented neoclassical growth model. The empirical results indicate a positive effec of ICT development on economic growth in both the long-run and short-…