期刊名称：International Journal of Finance & Banking Studies
印刷版ISSN：2147-4486
出版年度：2014
卷号：3
期号：4
页码：68-83
DOI：10.20525/ijfbs.v3i4.192
语种：English
出版社：Society for the Study of Business & Finance
摘要：The countries in the world in the globalized era have faced heterogeneity in challenges in managing their growth factors as well as the stake holders of such growth profiles. The political and economic turmoil of the last two decades around the world have opened the eyes of the consumers, business houses and the governments of different countries to read and follow the economic events. The paper has tried to study the causal relation and interrelationships among different growth factors like the confidence levels of the consumers and business houses, inflation, unemployment like economic factors and governance like non-economic factors over a selection of 17 countries across all continents for the period 1996-2010. Because of limited sources of data we have applied the pooled regression technique to justify our study. Confidence levels of both the consumers and business houses cause the growth rates whereas governance causes growth only under pooled data. But for individual country data we observe that in majority of the countries there are absences of causalities between the variables. It has been observed that pooled annual growth rates of GDP of the countries are significantly related to the business and consumer confidence indexes, unemployment rate, debt ratio and overall governance indicators that shows improvement over the individual country analysis where in majority of the cases there is no significant factor for growth and confidence. By segregating the entire data the study find a few countries where a few variables like BCI, stock prices and governance make significant impact upon growth rates. In majority of the countries BCI is explained by CCI, Stock prices and governance while CCI is explained by stock prices, governance and debt ratio.
其他摘要：The countries in the world in the globalized era have faced heterogeneity in challenges in managing their growth factors as well as the stake holders of such growth profiles. The political and economic turmoil of the last two decades around the world have opened the eyes of the consumers, business houses and the governments of different countries to read and follow the economic events. The paper has tried to study the causal relation and interrelationships among different growth factors like the confidence levels of the consumers and business houses, inflation, unemployment like economic factors and governance like non-economic factors over a selection of 17 countries across all continents for the period 1996-2010. Because of limited sources of data we have applied the pooled regression technique to justify our study. Confidence levels of both the consumers and business houses cause the growth rates whereas governance causes growth only under pooled data. But for individual country data we observe that in majority of the countries there are absences of causalities between the variables. It has been observed that pooled annual growth rates of GDP of the countries are significantly related to the business and consumer confidence indexes, unemployment rate, debt ratio and overall governance indicators that shows improvement over the individual country analysis where in majority of the cases there is no significant factor for growth and confidence. By segregating the entire data the study find a few countries where a few variables like BCI, stock prices and governance make significant impact upon growth rates. In majority of the countries BCI is explained by CCI, Stock prices and governance while CCI is explained by stock prices, governance and debt ratio.
