The main objective of this study is to develop first time trade openness index and use this index to examine the link between trade openness and economic growth in case of India. This study employs a new endogenous growth model for theoretical support, auto-regressive distributive lag model and rolling window regression method in order to determine long run and short run association between trade openness and economic growth. Further granger causality test is used to determine the long run and short run causal direction. The results reveal that human capital and physical capital are positively related to economic growth in the long run. On the other hand, trade openness index negatively impacts on economic growth in the long run. The new evidence is provided by the rolling window regression results i.e. the impact of trade openness index on economic growth is not stable throughout the sample. In the short run trade openness index is positively related to economic growth. The result of granger causality test confirms the validity of trade openness-led growth and human capital-led growth hypothesis in the short run and long run.
The world faces unprecedented challenges because of the Coronavirus Disease 2019 (COVID-19). Existing theories of human flourishing and coping efficacy are too broad and general to address COVID-19 unprecedented mental health challenges. This study examined two main objectives, first the associations between psychological outcomes (i.e., depression, anxiety, and stress) and psychological wellbeing of this phenomenon, and second, moderating and mediating factors emotions, resilience and coping self-efficacy. A nationwide survey was carried out on a Malaysian sample (n = 920). Participants completed an on-line survey that assessed psychological outcomes, psychological wellbeing, positive–negative emotions, resilience, and coping self-efficacy. The relationship between psychological states and psychological wellbeing was successfully mediated by coping self-efficacy (direct effects of −0.31 to −0.46 at p < 0.01) and resilience (direct effects of −0.06 to −0.26 at p < 0.01). Moreover, positive emotion significantly moderated depression (b = −0.02, p < 0.01) and anxiety (b = −0.14, p = 0.05) with psychological wellbeing. Findings highlighted the importance of these factors in developing a dedicated model to be built into the recovery plan to ameliorate the negative impact of COVID-19 on psychological wellbeing. Hence, the Positive Emotion-Resilience-Coping Efficacy Model was developed.
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