The purpose of this study is to disclose accident-related indices and investigate the extent to which the road accidents impact on the economic performance of Sri Lanka during the period from 1977 to 2016. Annual time-series data are used to evaluate the accident indices for econometric analysis. Augmented Dickey–Fuller (ADF) unit root analysis and Johansen’s maximum likelihood estimator of the parameters of a cointegrating vector error correction model (VECM) are employed to test the stationary properties of the time series and to examine the long-run relationship between the variables, respectively. The results derived from the analysis confirm the existence of long-run relationship between the accident-related indices and macroeconomic indicators. The long-run elasticity values imply the signs and magnitude of impact of the accident indices on macroeconomic indicators. JEL: R41, H510, I310, I32
Access to this document was granted through an Emerald subscription provided by emerald-srm: 390636 [] For AuthorsIf you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -South Asia has been an important destination of foreign aid over the past decades. Since a large part of aid is disbursed for social and economic infrastructure development in South Asian countries, and the volume of aid has tremendously increased in recent years, the purpose of this study is to investigate how far various categories of foreign aid affects economic growth rate in these countries. In addition, as the trend of each category of aid transfer appears to have been volatile, this study also investigates whether the volatilities inhibit growth rate in these countries. Design/methodology/approach -In this study, South Asia refers to India, Bangladesh, Pakistan and Sri Lanka. The Random effects approach is employed incorporating panel data for the period of 1995-2008. The aggregate foreign aid is classified into various categories to have a comprehensive investigation. Findings -Foreign aid positively associated with growth whereas the volatility of aid hurts it. Long-impact aid promotes growth more than short-impact aid does. The volatility of short-impact aid hurts growth, whereas the volatility of long-impact aid has no effect on it. Pure aid and its volatility have no effect on growth.Originality/value -This study has identified the structure of foreign aid disbursed in these countries, and explored how far each category and respective volatility affects growth. These findings would be useful to the scholars and policy makers in the recipient countries as well as donors, to make foreign aid much more effective in future.
This empirical study investigates the determinants and growth effect of FDI in case of four South Asian countries over the period of 1995-2008. It comprises two major analytical parts. Firstly, we incorporate a gravity model equation in order to investigate potential determinants of foreign direct investment in these countries. Secondly, we use a growth model equation to investigate growth effect of foreign direct investment in the countries. For both analyses, we use panel data and employ Arellano-Bond dynamic panel system method of moment estimator. The results derived from this study suggest that: (1) the pulling, pushing and cyclical factors are crucially important in determining FDI in South Asian countries; (2) foreign direct investment in South Asian countries is significant and positively associated with growth rate, but seems to be having average supportive to the growth rate in these countries.
This study investigates whether or not foreign aid attracts foreign direct investment (FDI) in South Asian economies. Using various econometric techniques, the investigation is performed based on the concept of substitutable and complementary relationship between FDI and classified foreign aid. Foreign aid classified into aid in the shape of physical capital, and aid for human capital and infrastructure development. The results suggest that both aid in the shape of physical capital and aid for human capital and infrastructure development serve as complementary factors to foreign direct investment rather than being substitutable in South Asian economies. Thus, we conclude that aid flow in South Asian countries attract FDI into the region.
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