Cointegration growth, poverty and inequality in Sudan

This analytical review explores the links between growth, poverty and inequality in Sudan for the period 1956-2003. This paper build upon different models to investigate empirically the relationship between economic growth – as measured by GDP per capita growth- and inequality as measured by Gini coefficient (the growth, inequality and poverty triangle hypotheses), using data from the national and international sources. The paper tries to answer the following questions: i) whether growth, inequality and poverty are cointegrated, ii( whether growth Granger causes inequality, iii) and whether inequality Granger causes poverty. Finally, a VAR is constructed and impulse response functions (IRFs) are employed to investigate the effects of macroeconomic shocks. The results suggest that growth; poverty and inequality are cointegrated when poverty and inequality are the dependent variable, but are not cointegrated when growth is the dependent variable. In the long- run the causality runs from inequality, poverty to growth, to poverty. In the short-run causal effects, runs from poverty to growth. Thus, there is unidirectional relationship, running from growth to poverty, both in the long- run and short rungrowth; poverty; inequality; Sudan

Social protection and economic growth in the Sudan: Trends, perspectives, cointegration and causality

This paper takes into account the recent role of social protection on economic growth as a socio-economic-political stabilizer. Social protection outcome in Sudan is influenced by limited targeting actions with very low interventions between results in economic growth and accesses to basic social services. These may affects the social protection contributes to the process of development in the Sudan during the period under consideration. The results show that more social spending increase output which enhances GDP per capita growth by 0.5% with 3.1% towards convergence equilibrium in the long run. Moreover, universal approach and expanded cover to social protection services which aim at building a social protection as a productive factor may have contributed to enhancing income security, education and health outcomes, reducing the poverty, income inequality, socio-political stability, encouraged poor productive activities and enhancing economic growth lead to sustainable development.Social Protection, Growth, Cointegration, causality, Sudan

Social protection and economic growth in the Sudan: Trends, perspectives, cointegration and causality

This paper takes into account the recent role of social protection on economic growth as a socio-economic-political stabilizer. Social protection outcome in Sudan is influenced by limited targeting actions with very low interventions between results in economic growth and accesses to basic social services. These may affects the social protection contributes to the process of development in the Sudan during the period under consideration. The results show that more social spending increase output which enhances GDP per capita growth by 0.5% with 3.1% towards convergence equilibrium in the long run. Moreover, universal approach and expanded cover to social protection services which aim at building a social protection as a productive factor may have contributed to enhancing income security, education and health outcomes, reducing the poverty, income inequality, socio-political stability, encouraged poor productive activities and enhancing economic growth lead to sustainable development

Cointegration growth, poverty and inequality in Sudan

This analytical review explores the links between growth, poverty and inequality in Sudan for the period 1956-2003. This paper build upon different models to investigate empirically the relationship between economic growth – as measured by GDP per capita growth- and inequality as measured by Gini coefficient (the growth, inequality and poverty triangle hypotheses), using data from the national and international sources. The paper tries to answer the following questions: i) whether growth, inequality and poverty are cointegrated, ii( whether growth Granger causes inequality, iii) and whether inequality Granger causes poverty. Finally, a VAR is constructed and impulse response functions (IRFs) are employed to investigate the effects of macroeconomic shocks. The results suggest that growth; poverty and inequality are cointegrated when poverty and inequality are the dependent variable, but are not cointegrated when growth is the dependent variable. In the long- run the causality runs from inequality, poverty to growth, to poverty. In the short-run causal effects, runs from poverty to growth. Thus, there is unidirectional relationship, running from growth to poverty, both in the long- run and short ru

Social protection and economic growth in the Sudan: Trends, perspectives, cointegration and causality

This paper takes into account the recent role of social protection on economic growth as a socio-economic-political stabilizer. Social protection outcome in Sudan is influenced by limited targeting actions with very low interventions between results in economic growth and accesses to basic social services. These may affects the social protection contributes to the process of development in the Sudan during the period under consideration. The results show that more social spending increase output which enhances GDP per capita growth by 0.5% with 3.1% towards convergence equilibrium in the long run. Moreover, universal approach and expanded cover to social protection services which aim at building a social protection as a productive factor may have contributed to enhancing income security, education and health outcomes, reducing the poverty, income inequality, socio-political stability, encouraged poor productive activities and enhancing economic growth lead to sustainable development

A Review on Agency Cost of Shariah Governance in Mutual Fund

Mutual fund has become an increasingly important investment vehicle for retail investors, especially among households. Besides developing the institutional investment as an efficient momentum trader, the long-established separation of ownership and control in contemporary type of fund management has very much caused depreciation in shareholder value under minimum investor protection environment. The unobserved activities and widely magnitude decision skills of managers under imperfect contract with the tendency to serve self-interest exacerbates the shareholder wealth, predominantly in Shariah mutual fund, pertaining to dual investing interests. This paper reviews the theoretical and empirical literature with central attention given to the existing governance structure, Shariah governance in religious based fund, and some other related internal governance mechanisms. Concurrently, the review explains theoretically and conceptually the interrelationships among all relevant governance mechanisms. After some rigorous discussion and argument, this paper recommends further empirical investigation into this line of research to integrate the gap from developed market evidence

The effect of oil price fluctuations on the Malaysian and Indonesian stock markets

This study is pursued with the objective of examining the effect of changes in crude oil price on the share prices of public listed companies on Bursa Malaysia and the Jakarta Stock Exchange as proxied by the Kuala Lumpur Composite Index (KLCI) and Jakarta Composite Index (JCI), respectively. The study employs the Engle-Granger Cointegration test and Error Correction Modelling (ECM). Using time series data from January 1986 through December 2006, this study finds a significant long-term relationship between the movement of crude oil price and the performance of the two stock markets. The two observed variables in both stock markets are also found to be positively correlated. The test results from Impulse Response Function and Variance Decomposition show the presence of a dynamic interaction between the movement in crude oil prices and the two stock market indices

Rainfall Drought Simulating Using Stochastic SARIMA Models for Gadaref Region, Sudan

Sudan is one of the countries which economy depends on rain fed agriculture and also facing recurring cycles of natural drought. For many decades, recurrent drought, with intermittent severe droughts, had become normal phenomenon in Sudan. This paper presents linear stochastic models known as multiplicative seasonal autoregressive integrated moving average model (SARIMA) used to simulate monthly rainfall in Gadaref station, Sudan. For the analysis, monthly rainfall data for the years 1971–2010 were used. The seasonality observed in ACF and PACF plots of monthly rainfall data was removed using first order seasonal differencing prior to the development of the SARIMA model. Interestingly, the SARIMA (0,0,5)x(1,0,1)12 model developed here was found to be most suitable for simulating monthly rainfall over the Gadaref station. This model is considered appropriate to forecast the monthly rainfall to assist decision makers establish priorities for water demand, storage and distribution

Sensitivity of Fiscal Balances to Oil Price Shocks: Short and Long Term Effects in the Context of Oman

This paper examines the fiscal balances in Oman and their sensitivity to oil price shocks in the short and long term, using annual data for the period 1980–2016, and employing the vector auto regression model. Results of the study indicated that oil prices Granger cause gross domestic product (GDP) growth, capital formation and inflation. Impulse response analysis showed that an innovation in the oil prices and consequent oil revenues have a similar effect on most of the macroeconomic variables in Oman. Most of these variables show an increase in the first four quarters except for government expenditure and inflation. However, in many cases, this increase has quickly shifted to decrease over the successive quarters except for inflation, which showed a steady increase over time. Variance decomposition analysis, on the other hand, indicated that net oil price shock appears to be a key factor contributing to the volatility of GDP growth over time in Oman. Keywords: Fiscal Balances, Oil Price Shocks, Oman JEL Classification: H30, C320, Q430, O503 DOI: https://doi.org/10.32479/ijeep.735

A comparative study of frictional response of shed snakeskin and human skin

Skin in biological systems, including humans, perform several synchronized tasks (mechanical, protec-tive, tactile, sensory, etc.). Tribological function is among skin tasks and may determine the survivabilityof many species. Cross comparison of tribological functional traits of skin of different species, albeit interesting, is rarely encountered, if at all exists, in tribology literature. One interesting example is that of snake and human skins. This skin pair was the subject of many studies for transdermal drug delivery. Results in that context concluded that snakeskin is highly compatible with human skin despite apparent differences in surface structure and topology. The reported compatibility raises curious question ofwhether there exists frictional or tribological compatibility between the two skins and if so, under what conditions, and which context. In this work, we report, for the first time in open literature, results of a comprehensive comparative investigation of shed snakeskin and human skin with respect to tribological behaviour. To this end, we compared the frictional response of shed skin obtained from P. regius and human skin from different anatomical sites, gender, and age. The results imply that, in essence, the mechanisms governing the friction response of human skin are common to snake skin despite difference in chemical composition and apparent surface structure. In particular, both skin types display sensitivity to hysteresis and adhesive dissipation. Human skin, however, being more sensitive to hysteresis than snakeskin. One interesting finding of the study is that the ratio of the coefficients of friction for snake and human skin, when sliding on the same interface, depends on the reciprocal of their respective moduli of elasticity