Analysis of the Impact of Digital Technologies on Chinese Economic Growth

This study aims to analyze the impact of digital technologies on the Chinese economic growth from 2013 to 2018. The research takes into account five digital technologies namely cloud computing, artificial intelligence, robotics, big data and the internet of things. In order to evaluate the role of each of the five digital technologies on china economy, we run a linear regression model of each of them with the country GDP. the results reveal that despite difference in their level of significance, Cloud Computing, Artificial Intelligence, Robotics, Internet of Things and Big Data have a positive significant impact on the country GDP. Keywords: Digital technologies, cloud computing, artificial intelligence, robotics, big data, internet of things, Chinese economic growth. DOI: 10.7176/JESD/10-8-15 Publication date: April 30th 2019

A Study on the Dynamic Relationship Between Financial Development and Investment: Evidence from Sub-Saharan Africa

The relationship between financial development and investment has become the central focus for empirical studies since the emergence of endogenous growth models. Bank-based measures and Financial markets-based measures have often been used as proxies for financial development in many studies. However, results based on these proxies have often yielded different interpretations since the concept of financial development is broad and a multidimensional process. The Financial development index of the International Monetary Fund (IMF) presents a more comprehensive measure for financial development, and it is also useful for investigating financial development and other economic outcomes. Also, investment is a versatile concept since it takes on many forms and sources. We adopt the panel VAR estimation techniques to examine the endogenous relationship between financial development and investment using the Financial development index, general government investment, private investment, and foreign direct investment (FDI) as dependent variables. The study reveals that private investment has a positive endogenous relationship with financial development. Moreover, the causal relationship between financial development and private investment is bilateral. Also, financial development has a positive influence on FDI. Furthermore, the study suggests that financial development has a strongly exogenous relationship with General government investment. Keywords: Financial development index; Private investment; General government investment; Foreign direct investment; Panel VAR. DOI: 10.7176/JESD/10-14-09 Publication date:July 31st 202

Innovation Input-Output Analysis of African Countries

Given the importance of innovation in global competitiveness, this study aims to analyze the relationship between innovation input-output in African countries from 2009 to 2017, determining the degree of significance of each input on the output. With data collected from the Global Innovation Index, an Econometric random Fixed effect model was run revealing a negative insignificant effect of institutions on innovation, a positive insignificant effect of human capital on innovation, a positive insignificant effect of infrastructures on innovation, a positive significant effect of market sophistication on innovation, and finally a positive significant effect of business sophistication on innovation. Keywords: Innovation, input-output, African countries. DOI: 10.7176/JAAS/54-09 Publication date: April 30th 2019

Study on Evolutionary Path of University Students’ Entrepreneurship Training

Aiming at studying the evolution pattern of cultivating the ability of university students’ entrepreneurship, this paper established the payoff matrix between the university and students agent with the evolutionary economics method. The analysis of the evolution of the communication process model reveals how the choice strategy of individuals influences that of groups. Numerical simulation also demonstrates the influences of different values of decision-making parameters and the change of initial conditions on the result of evolution. It is found that the evolution path system of university students’ entrepreneurial ability has two kinds of modes: one is the ideal state; and the other one is the bad “lock” state. By adjusting parameters, we can jump out of the bad “lock” state, thus optimizing cultivation path

Credit Risk Management as a Good Measure of Financial Performance of Banks in Ghana

Banks are exposed to several forms of risks that affect their performance. The main objective of banking management is to maximize wealth. In efforts to realize this goal managers and shareholders should evaluate the cash flows and risks to direct its financial resources in different areas of use. This paper aims to investigate the effect of credit risk management (CRM) on financial performance (FP) of banks in Ghana. The indicators used in the study are CRM, bank credit (BC), liquidity risk (LR) and capital risk (CR) are regressed on FP. The CADF and CIPS panel unit root tests report that, the variables are non-stationary at their levels but become stationary at their first difference. The Westerlund-Edgerton panel bootstrap cointegration test show that, the variables are cointegrated and hence possess a structural long-run relationship. Also the Granger causality through the ARDL model show; (1) A two-way causality between bank credit and FP in the long-period and short-period; (2) A positive and significant one-way cause running from liquidity to FP, a one-way causality between capital risk and FP, lastly one-way causality in the long-period for LR and bank credit are evidenced; (3) The ARDL framework is evidenced to be very significantly effective to the application of Granger causativeness test. Keywords: bank credit; credit risk management; financial performance; liquidity risk. DOI: 10.7176/JESD/11-4-04 Publication date: February 29th 2020

Renewable Energy Consumption and Economic Growth Nexus in the Central African Sub-Region: Application of Panel Cointegration Approach

The study examined the causal relationship between renewable energy consumption and economic growth patterns in six countries in the Central African Sub-region using a panel data collected for a period of 1990-2015. The Central African Sub-region constitutes the part of Africa where there is abundance of renewable energy resources. The study employed the panel fixed and Random effect models, the Dynamic Ordinary Least squares (DOLS), Fully Modified Ordinary Least squares (FMOLS) and Pairwise Dumitrescu-Hurlin Panel Causality techniques to examine the short and long run impacts of renewable energy on Economic growth. The study found that, economic growth and renewable natural resources have both short run and long run relationships. Again, unidirectional causality was found between renewable energy consumption and economic growth and an inverse relationship was also identified. The study recommends that, government policies should be directed to utilize cost effective renewable technologies to expanding the abundance renewable energy resources to boost productivity, support agriculture and rural industries. This would spur the potentials to propel sustainable economic growth, future energy security while the environment is also protected. Keywords: Renewable Energy, Economic growth, Central Afric

Capital Structure and Firm Value: Empirical Evidence from Ghana

Abstract This study seeks to provide evidence on the impact of capital structure on a firm &apos