Modelling the impact of foreign direct investment and human capital on economic growth: empirical evidence from the Philippines

This paper empirically investigates the impact of foreign direct investment (FDI) and human capital on economic growth in the Philippines. An economic growth model for the Philippines is specified and estimated by a canonical cointegrating technique and employing annual data spanning the period 1965–2010. Our empirical results indicate that FDI is an important vehicle for achieving economic growth in the Philippines, but only when there is sufficient absorptive capacity created by increased human capital and infrastructure development. The other key factors influencing Philippine economic growth are economic growth in its major trading partners, political climate and prevailing economic conditions within the economy. The relative size of government investment is found to crowd-out private investment, thus suggesting the need for government investment to be directed at human capital and infrastructure development as this has the potential to attract FDI and thus achieve sustained economic growth and development in the Philippines

Does human capital constrain the impact of foreign direct investment and remittances on economic growth in Ghana?

This article empirically investigates whether human capital constrains the impact of Foreign Direct Investment (FDI) and remittances on economic growth in Ghana. An economic growth model for Ghana is specified and estimated using Fully Modified Ordinary Least Squares (FMOLS) estimator and employing annual data spanning the period 1965 to 2008. Empirical results indicate that FDI and remittances are key determinants of economic growth in Ghana. Results indicate that human capital enhances the impact of FDI and remittances on economic growth. Although both government expenditure and trade openness are growth-enhancing, government expenditure appears to crowd-out private investment. Empirical results also indicate that domestic inflationary pressures, unstable political environment and volatile global economy exert a negative impact on economic growth in Ghana

Social and environmental reporting and the co-creation of corporate legitimacy

Bhattacharyya, A ORCiD: 0000-0002-0816-0063This paper extends the legitimacy theory by empirically investigating the extent and context of social, environmental and total voluntary non-financial disclosures across industries. The study uses 312 annual reports of publicly listed Indian companies for the accounting years 2006, 2012 and 2014. We follow a Multivariate Ordinary Least Squares (MOLS) modelling framework to test the hypotheses. Our empirical results indicate that the decision to provide voluntary non-financial disclosure is positively related to a firm’s age, profitability, industrial category and leverage. Our results further indicate that, contrary to legitimacy theory, the decision to provide social and environmental non-financial disclosures by sampled publicly listed companies is found to correlate negatively with consumer proximity, leverage and industrial transport industry membership. Our results add new empirical evidence to support the view that non-financial disclosure by companies is influenced by country-specific characteristics within which the firm operates. Future research could extend the study to other emerging countries and include data from unlisted companies to validate our findings.&#x0D; &#x0D; To cite this document: Asit Bhattacharyya and Frank Wogbe Agbola, "Social and Environmental Reporting and the Co-creation of Corporate Legitimacy", Contemporary Management Research, Vol.14, No.3, pp. 191-223, 2018.&#x0D; &#x0D; Permanent link to this document:&#x0D; http://dx.doi.org/10.7903/cmr.18247</jats:p

Time-series estimation of import demand functions for pulses in India

Purpose - This study seeks to examine empirically import demand for total pulses, chickpeas and lentils in India based on the concept of unit root and cointegration. Design/methodology/approach - The Stock-Watson dynamic OLS (DOLS) model - which is robust to small sample and eliminates simultaneity bias - is used to derive the long-run price, income and urbanisation elasticities of import demand. The data covers the period 1970-2000. Findings - Results indicate that real GDP, relative price and urbanisation are the key determinants of import demand for pulses in India. The estimated long-run elasticities of import demand with respect to income (relative price) are 0.4 (-1.7) for chickpeas, 0.56 (-0.87) for lentils and 0.36 (0.00) for total pulses. The estimated long-run elasticities of import demand with respect to urbanisation are 9.9 for chickpeas, zero for lentils and 7.2 for total pulses. The policy implications of the results are discussed. Originality/value - Provides evidence that the response of import demand for pulses to key determinants differ substantially from product to product

Regional analysis of the impact of inward foreign direct investment on economic growth in the Chinese electronic industry

This article empirically investigates the impact of inward foreign direct investment (FDI) on regional economic growth in the Chinese electronic industry (CEI). Utilizing a provincial-level panel data spanning the period 1989 to 2009, we specify and estimate an endogenous economic growth model for the CEI. Empirical results indicate that, for the coastal region, FDI inflows have been growth enhancing, while in the central and western regions the impact of FDI on economic growth is mixed, depending on the channel of capital flow. Results also indicate that exports, human capital, science and technology investment and fixed asset investment are growth enhancing, while unemployment and foreign R&D investment are growth impeding in the CEI

Skilling Australia for the future?: a study of quality assurance in Australia's vocational education and training

From the end of World War II until the early 1970s, vocational education and training (VET) in Australia was surprisingly static and resilient to government-led reform, due to the dominance of industry and union power. Following the oil shocks of 1973 and associated unemployment and declining union power, there have been calls on the federal and state governments to adopt a more proactive approach to dealing with quality assurance in the VET sector. In recent times, private registered training organisations (RTOs) are increasingly being used by federal and state governments to directly address the unemployment problem through programs such as the Productivity Places Program. As a result, an examination of quality assurance in the VET sector is increasingly important. This paper reviews the evolution of VET in Australia and examines what impact policy reforms have had on quality assurance in VET, identifying some opportunities and challenges facing the Australian VET sector in the changing global economy