Meta-Analysis of the Empirical Relationship Between Financial Development and Economic Growth

학위논문(석사)--서울대학교 대학원 :국제대학원 국제학과(국제지역학전공),2019. 8. Jeong, Hyeok.This dissertation examines the empirical relationship between financial development and Economic growth in different regions by conducting a meta-analysis study. The measures of precision of the effects (for example t-statistics and Standard Errors) were derived from 22 recently published studies that provided the current study with 295 unique observations, which are used for interpretation and analysis purposes. To tackle the file-drawer problem, some other studies suggesting a negative empirical relationship were selectively added for the studys exposure to more profound scrutiny and a different analytical and interpretation approach. The finding confirms the empirical relationship between the two variables, however, it also highlights the major discrepancies in defining and measuring financial development by researchers, and how it can impinge upon the policies, should we disregard the different definitions of the term. The study argues that the inverted Ushaped relationship as highlighted by some of the recent studies is perhaps strictly confined to the cases of most developed countries. The study also concludes after providing policy recommendations.본 논문은 메타-분석 연구를 통해 여러 지역에서 금융 발전과 경제 성장 사이의 경험적 관계를 분석한다. 효과의 정밀도 측정(예: t- 통계 및 표준 오류)은 통역 및 분석 목적으로 사용되는 295 회의 고유한 관찰 결과를 제공하는 최근 22 개의 연구에서 얻었다. 파일 서랍 문제를 해결하기 위해, 부정적인 경험적 관계를 제시하는 다른 연구들도 선택적으로 사용해 연구가 더 심도 있는 정밀 조사와 다른 분석 및 해석 방법에 노출될 수 있게 했다. 연구결과는 두 변수 사이의 경험적 관계를 확인하지만, 또한 연구자가 금융 발전을 정의하고 측정하는 데에 있어 나타나는 주요한 불일치와 우리가 용어의 다양한 정의를 무시한다면 그것이 어떻게 정책에 영향을 미칠 수 있는지를 강조한다. 본 연구는 몇몇 최근 연구들에서 강조되는 역 U자형 관계가 최고 선진국의 경우에만 국한되어 있을 수 있다고 주장한다. 본 연구는 또한 결론을 맺기 전 정책적 권고를 제공한다.CHAPTER ONE: GENERAL INTRODUCTION .............................................................. 1 1.1. Background of the Study ....................................................................................... 1 1.2. Problem Statement ................................................................................................. 7 1.3. Objectives of the Study .........................................................................................10 1.4. Research Questions...............................................................................................11 1.5. Significance of the study .......................................................................................11 1.6. Organization of the Study ....................................................................................14 1.7. Meaning of Financial Development ....................................................................15 CHAPTER TWO: LITERATURE REVIEW ...................................................................17 2.1. Introduction ..........................................................................................................17 2.2. Theoretical Background .......................................................................................17 2.3. Finance as a Determinant of Growth ..................................................................22 2.4. The Literature on Finance-Growth Nexus .........................................................25 2.5. File-Drawer Problem ............................................................................................29 CHAPTER THREE: DATA AND VARIABLES ..............................................................31 3.1. Research Design ....................................................................................................31 3.2. Data and Sources ..................................................................................................32 3.2.1 Studies indicating negative and/or U-shaped relationship ........................37 3.3. Variables ................................................................................................................38 3.3.1. Proxy Variables for Financial Development ..............................................38 3.3.2. Real Factors ..................................................................................................40 3.4. Methodology ..........................................................................................................42 3.5. Data Treatment and Arrangement .....................................................................45 CHAPTER FOUR: INTERPRETATION AND ANALYSIS ...........................................50 4.1. Introduction ..........................................................................................................50 4.2. Summary Statistics ...............................................................................................51 4.2.1. Summary Statistics of Regression Variables ..............................................52 4.2.2. Summary Statistics of FD Indicators ..........................................................52 4.2.3. Summary Statistics for Regions ..................................................................54 4.3. Analysis of the Findings .......................................................................................54 4.3.1. First Category: Studies with Significant Findings .....................................57 4.3.2. Second Category: Studies with Statistically Insignificant Findings .........66 4.3.3. Third Category: Studies indicating Negative Empirical Relationship ....70 CHAPTER FIVE: CONCLUSION AND POLICY RECOMMENDATIONS ...............75 5.1. Introduction ..........................................................................................................75 5.2. Meta-analysis and Interpretation ........................................................................75 5.2.1. Studies with Statistically Significant Results .............................................77 5.2.2. Studies with Statistically Insignificant Findings ........................................79 5.2.3. Studies with Negative Empirical Relationship ...........................................80 5.3. General Conclusion ..............................................................................................82 5.4. Limitations of the Study .......................................................................................84 5.5. Policy Recommendations .....................................................................................85 5.6. Recommendation for Future Studies ..................................................................88 5.7. Concluding Remarks ............................................................................................89 REFERENCES .....................................................................................................................91Maste

Comparison of genetic variation of ship sturgeon (Acipenser nudiventris) in the southern Caspian Sea and Ural River using PCR-RFLP

Genetic variation of ship sturgeon (Acipenser nudiventris) from the Caspian Sea was investigated using NADF15/6 gene and PCR-RFLP analysis. A total of 80 specimens of the fish were collected from the south Caspian Sea and the Ural River from Kazakhstan. mtDNA ND5i6 gene was amplified by polymerase chain reaction (PCR) digested using 39 Endonucleases Restriction Enzyme. Of the 39 enzymes, five showed polymorphism. Totally, ten composite haplotypes among 80 specimens were detected. Haplotype AAAAA showed maximum frequency (57.5%) whereas haplotypes BBAAA and BABAA showed minimum frequency (12%). Haplotype AAAAB was recognized specifically in Ural River specimens. Average haplotype and nucleotide diversity was 0.8516 and 0.007 respectively. Compared to other sturgeon species living in the Caspian Sea, nucleotide diversity of Ship Sturgeon was much lower (0.007). This may be due to smaller population size of this species. Monte-Carol simulation using 1000 interaction did not show any significant differences between haplotype distribution of the fish sampled in the south Caspian Sea (X^2=35.48 , P=0.74). However, we detected a significant difference between haplotype of Ship Sturgeon from Ural River and the south Caspian Sea. We conclude that Ship Sturgeon from Ural River is different from the fish in the south Caspian Sea and suggest CfrI31 enzyme as a molecular marker for population differentiation in the Caspian Sea

Afghan EFL Teachers’ Perceptions Toward Challenges They Encounter in Implementing CLT in Their Classes

This study aimed to identify the challenges that Afghan EFL teachers encounter when implementing Communicative Language Teaching (CLT) in their classes. The study utilized a descriptive quantitative research design, employing a survey questionnaire.  A total of 25 EFL teachers from different public universities of Afghanistan participated in this study. The results revealed that in teacher-related challenges, insufficiency in spoken English, lack of training in CLT, shortage of time for developing communicative materials, and lack of knowledge about the culture of the target language are the primary obstacles to the application of CLT. Additionally, challenges in student-related factors such as low English proficiency, passive learning styles, and lack of motivation were identified as critical difficulties hindering the implementation of CLT in their classes

Organizational conflict and task groups' behavior

The purpose of this project was reviewing the effect of organizational conflict on task groups' behavior. Samples of this study were employees of a public company of Iran who have had experience in task groups and committees. This study is applied and causative. The researcher has done a review of literature and also prepared a questionnaire based on 5- Likert. Also, 113 questionnaires were collected and analyzed as sample. Data have been analyzed by using linear regression method, Durbin-Watson test and Kolmogrov – Smirnov Test. The findings indicated that there was a reversal relation among relational conflict and avoidance, compromise and confidence. But there wasn’t any relationship between self-devotion changes of organizational relations and cooperation. On the other hand, task conflict had reversal relation to avoidance, compromise and confidence, but there was direct relation in self-devotion, organizational relational change, and collaboration

The Relationship between Loneliness and High-risk Behaviors among Adolescents of Bojnourd

Background: High-risk behaviors are increasing among adolescents, and consequently, risk and preventive factors have been highlighted and investigated. The aim of this study was to investigate the relationship between loneliness as a risk factor and high-risk behaviors among adolescents of Bojnourd, Iran. Methods: In this cross-sectional study, 455 adolescents (aged 15-19 years) were selected based on the age and gender by using quota sampling method. Data were collected by using demographics checklist, high-risk behaviors checklist, and the SELSA-S loneliness Questionnaire. Finally, data were analyzed using descriptive and inferential statistics like t-test, ANOVA, and Pearson’s correlation coefficient. Results: The results show that there was a significant and direct relationship between the feeling of loneliness and high-risk behaviors (r=0.147, P=0.002). In addition, there was a significant and direct relationship between the feeling of loneliness and violence (r= 0.148, P= 0.002), suicide (r=0.278, P< 0.001), and drug abuse (r= 0.124, P= 0.008). High-risk behaviors was more common among male rather than female (P= 0.005). Conclusion: This study show that there is a relationship between the feeling of loneliness especially loneliness in families and high-risk behaviors. Therefore, prevention programs for improving the relationships and interactions in families, can be very effective in preventing high-risk behaviors among adolescents

PInKS: Preconditioned Commonsense Inference with Minimal Supervision

Reasoning with preconditions such as "glass can be used for drinking water unless the glass is shattered" remains an open problem for language models. The main challenge lies in the scarcity of preconditions data and the model's lack of support for such reasoning. We present PInKS, Preconditioned Commonsense Inference with WeaK Supervision, an improved model for reasoning with preconditions through minimum supervision. We show, both empirically and theoretically, that PInKS improves the results on benchmarks focused on reasoning with the preconditions of commonsense knowledge (up to 40% Macro-F1 scores). We further investigate PInKS through PAC-Bayesian informativeness analysis, precision measures, and ablation study.Comment: AACL 202

Organizational conflict and task groups' behavior

The purpose of this project was reviewing the effect of organizational conflict on task groups' behavior. Samples of this study were employees of a public company of Iran who have had experience in task groups and committees. This study is applied and causative. The researcher has done a review of literature and also prepared a questionnaire based on 5- Likert. Also, 113 questionnaires were collected and analyzed as sample. Data have been analyzed by using linear regression method, Durbin-Watson test and Kolmogrov – Smirnov Test. The findings indicated that there was a reversal relation among relational conflict and avoidance, compromise and confidence. But there wasn’t any relationship between self-devotion changes of organizational relations and cooperation. On the other hand, task conflict had reversal relation to avoidance, compromise and confidence, but there was direct relation in self-devotion, organizational relational change, and collaboration

Application of a non-parametric method to analyze energy consumption for orange production

Due to good climate condition and large cultivation area in Mazandaran province of Iran, orchard commodities products, especially orange production is widely improved in this region.  In this study, Data Envelopment Analysis (DEA) technique was used to analyze the efficiency of farmers, discriminate efficient orchards from inefficient ones and to identify wasteful uses of energy for orange producers in Sari region.  Data were collected using face-to-face surveys from 86 orange orchardists and included the human power, machinery, diesel fuel, chemicals, fertilizer, farmyard manure, water for irrigation and electricity input sources used per hectare of orange production.  The data was organized and analyzed by DEA Techniques.  The results revealed that the total input and output energy were 54.2 and 59.2 GJ/ha, respectively.  Diesel fuel, fertilizer and water for irrigation energies had the highest energy values per hectare respectively.  Pure technical and scale efficiencies were calculated using CCR (Charnes–Cooper–Rhodes) and BCC (Banker-Charnes-Cooper) models.  The technical, pure technical and scale efficiencies were calculated as 0.92, 0.96 and 0.97, respectively.  The highest contribution to the total saving energy was provided by diesel fuel followed by fertilizer and water for irrigation energy input.   Keywords: technical efficiency, energy saving, data envelopment Analysis, orange production, Sar

An Investigation of English Language Needs of Engineering Undergraduates at Jawzjan University

.my% % % ABSTRACT The purpose of this investigation was to identify the English language needs of the students currently studying at the engineering faculties of Jawzjan University in Afghanistan. A total of 212 under-graduate engineering students from the second and third year classes took part in this investigation. The main tool for data collection was a student questionnaire used to gauge learners’ perceptions on their needs pertaining to the English language. The findings of the study show that the English language proficiency of most of the students is at the average and good level, and most of the students study English for academic purpose and for their future profession. Likewise, the students believe that their English language proficiency has a significant effect on their academic performance in content subjects. Furthermore, the current English language program and classroom resources do not fulfill their needs as they prefer to have a class with lots of activities or more studentcentered. Moreover, a majority of the students were not satisfied with the amount of time allocated for English classes. It is hoped that the findings of this study would be the basis for designing a suitable course that would meet students needs. Keywords: Needs analysis, English language needs, language proficiency % 1. INTRODUCTION For the last three decades due to the conflict, Afghanistan was an isolated country. However, recent political changes in Afghanistan resulted in the collapse of Taliban regime. In 2001, Afghanistan became the focus point of international community %The students of engineering faculties of Jawzjan University study general English course for two academic years. The students learn English to prepare themselves for the job market. This study could be the first step towards involving the engineering students in the processes of an English language curriculum design in a war-torn and under-developed country like Afghanistan. It also draws attention to the fact that the current English language program may not be matching the needs of the students. Hence the main objective of this study is to identify the English language needs of current students in the engineering faculties of Jawzjan University. %