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I.F - 2.14

 

Volume 3 Issue 2 March - April : 2012

1.

Inflation Effects on Finance-Growth Link : A Smooth Transition Approach, Case study: Iran

Mohsen Mehrara, Mostafa Sargolzaei, Razieh Ahmadi, Marzieh Ahmadi

PDFIconFull Text in PDF 

Abstract

In view of the importance of financial markets and role of the financial development in the economic growth and the effects of inflation on the economic growth we dealt with the study of the effects of the Iranian financial growth in various regimes during a period of time from 1975 through 2008. To this end we used the nonlinear regressions and LSTR model (Logistic smooth transition).The results of the approximation of LSTR model indicated that the effects of financial development on the economic growth are dependent on the various inflation regimes in such a way that in the low-rate inflation regime the effects of the financial development on the economic growth are constructive and positive. But in the high-rate inflation regime the effects of the financial development on the economic growth are negative. The amount of the threshold parameter has been 10.4 for inflation rate.
480-483
2.

Is the integration of Shared Value Creation (SVC) with strategy management of productive organizations an innovative approach to environmental challenges faced by companies today?

Luiz Leandro,Elza Neffa

PDFIconFull Text in PDF 

Abstract

The need to address environmental issues within production systems pressures organizations to incorporate the environment as an operational variable.  This article questions whether Michael Porter’s proposal of Shared Value Creation (SVC), which would replace Corporate Social Responsibility (CSR) without correcting the contradictions of the production system, can be a strategy for dealing with environmental issues within the production process. By reconciling economic development with a sustainable environmental policy, Brazil, under the aegis of government, is recognizing the problems caused by reducing the environment to a resource or obstacle to prosperity under the capitalist system. Because capitalism turns all resources into merchandise, and because this leads to the need for environmental issues to be factored into the value chain to enhance Brazilian companies’ positions in the global market, SVC may be a solution.  From this perspective, this article examines the SVC proposal as an alternative to CSR in organizations and includes Social Technology in capitalist logic.  This shows the potential and the constraints of a capitalist reproduction strategy in achieving proposed business goals of economic growth, environmental sustainability and human development.
484-489
3.

A Study of Factors Affecting the India’s Service Sector: An Econometric Analysis

Priya lashmi, Dr.Sandeep Kumar

PDFIconFull Text in PDF 

Abstract

In the process of economic development, it is noticed that most of the economies follow a definite and distinguished pattern of sectoral structural transformation. The specific objectives of the study are, to study the growth pattern of Indian service sector of its sub sector, to investigate the factors, which affect the growth of service sector in India? To achieve the objectives of the study secondary data from 1990 to 2010 were collected from the different published sources. To study the factors response toward the service sector in India multivariate analysis was carried out.
490-497
4.

Housing Price Forecasting based on Stochastic Time Series Model

Jianhua GUO

PDFIconFull Text in PDF 

Abstract

Whether the real estate industry robustly develops or not largely affects national macroeconomic
development and national quality of life. By analyzing monthly averaged prices of commercial residential building in Changsha City from Jan, 2002 to Dec, 2011, this paper aims to reasonably construct a forecasting model to predict short-term housing price trend and affords reference to homebuyer and investors, what’s more, affords technical support to government’s policy making. First, how to select rational forecasting model is discussed, and then a price forecasting ARMA model is constructed, lastly, empirical analysis is put forward.

 

498-505
5.

Modeling Inflation Uncertainty and the Effect of Government Bond Rates: A Case Study of Greece

Kalimeris Dimitris

PDFIconFull Text in PDF 

Abstract

This paper aims to investigate the relationship among inflation, inflation uncertainty and government bond rates in the Greek economy in the last 19 years. The method adopted is the E-GARCH technique in order to capture the conditional variance of inflation shocks, while the VAR method is used with the purpose of examining any signs of granger causality issues.  Causality analysis shows a strong relationship between government bonds to inflation, between government bonds and inflation uncertainty, and between inflation and inflation uncertainty. Furthermore, generalized impulse response analysis is implemented which shows a strong causational relationship between government bonds-inflation and government bonds-inflation uncertainty.

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506-515
6.

The Stability Analysis in a Continuous-Time Financial Market Model with Delay

Hongxing Yao,, Zhaoping Jiang, Juanjuan Huang

PDFIconFull Text in PDF 

Abstract

In this paper we present a new continuous-time financial market model which is investigated to discuss the effectof time delay and market fraction of the fundamentalists on dynamics of asset prices. First, we analyze theglobal stability conditions of the fundamental steady state by constructing suitable Lyapunov functional. It is interesting to find the existence of the term of the feedback control, that is to say the new model has very good stability behaviours from the stable cycle or bifurcation. Second, numerical simulations show that the deterministic model is able to characterize long deviations of the market price from its fundamental price and stability behaviours observed in financial markets. It is the same to find that an increase in memory length not only can destabilize the market price, but also can stabilize an otherwise unstable market price, leading to stability switching as the memory length increases.

 

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516-521