Studies in Economy and Public Policy (SEPP) is an academic journal that publishes original research papers, reviews, and case studies related to various issues in economy and public policy. Studies in Economy and Public Policy welcomes submissions of well-written manuscripts to be double-blind-peer reviewed and published periodically. Furthermore, Studies in Economy and Public Policy (SEPP) is aimed at providing a media to disseminate theoretical and practical knowledge in economy and public policy through scientific publication. In addition, this journal is published by Goodwood Publishing.
Published
2022-06-27
Articles
Ownership rights and ASEAN-5 economic growth
Purpose: The basis of this opinion is that human resources, property rights and physical capital and other factors of production that are used effectively can encourage an increase in economic growth.
Research methodology: Panel data is the data used in this study with the best method, namely the Common Effect Model obtained from the Eviews 9.0 analysis tool.
Result: Based on the calculation results show that the Right of Ownership (IPR), the ratio of labor, and foreign investment have a positive and significant effect on economic growth. That is, if the GPA increases by one percent, it will encourage economic growth in a better direction, ceteris paribus. Early Growth has a positive and significant effect on economic growth. This means that there is economic convergence as indicated by a positive initial growth value.
Limitations: The need to increase the time and number of cross-sections in the study so that it has a higher diversity of data.
Contribution: Increasing property rights in ASEAN must also strengthen property rights norms that apply in society to improve the country's economic performance.
Monetary policies and economic management: Evidence from Sub-Saharan Africa
Purpose: The objective of this paper is to empirically analyze the application of monetary policies for economic management in Sub-Saharan African countries. The study used time series data from two African countries, specifically Kenya and Rwanda to examine the effect of broad money on the Gross Domestic Product growth rate.
Research methodology: The study relied on secondary data; obtained from the World Bank Development Indicators database. The study analyzed the data using both descriptive and inferential statistical techniques. The hypothesis was tested using the Ordinary Least Squares (OLS) technique. The data were checked for normality and subjected to Unit Root tests using the Dickey-Fuller, Augmented Dickey-Fuller and Phillips-Perron text prior to further analysis.
Results: The results confirmed the stationarity of the data. The descriptive statistics showed that all variables were normally distributed. The OLS result showed that broad money growth had a positive statistically significant effect on the GDP growth rate of both countries.
Limitations: The study focused on two sub-Saharan African countries.
Contribution: This study explicates the fact that in order to have a robust financial system, which eventually results in sustainable economic development, solid monetary policies must be maintained.
Practical Implication: The implication of this study is the identification of how responsible, long-term fiscal and budgetary stance encourages economic growth.
Novelty: The study focuses on the application of monetary policies in the economic management of Sub-Saharan African countries; with a particular emphasis on Kenya and Rwanda. These two countries have recorded remarkable growth in Sub-Saharan Africa compared to other countries.
