Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear <scp>ARDL</scp> approach

Ullah, Assad; Zhao, Xueyan; Kamal, Muhammad Abdul; Riaz, Adeel; Zheng, Bowen

doi:10.1002/ijfe.2115

Cited by 25 publications

(18 citation statements)

References 96 publications

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“…NARDL methods outperform conventional ARDL procedures in exploring cointegration using small data samples (Amin et al, 2022;Karim et al, 2022). Various studies have used this approach to explore outcome-dependent factors due to the contraction or enhancement of each explanatory factor (Bahmani-Oskooee and Ghodsi, 2017; Syed et al, 2021Syed et al, , 2022Ullah et al, 2021;Tang et al, 2022) The main model of Equation ( 3) is decomposed into asymmetric Equation ( 7) by substituting the pessimistic and optimistic sums of Equations ( 5) and ( 6).…”

Section: Methodology For Estimationmentioning

confidence: 99%

RETRACTED: An empirical analysis of the impact of higher education on economic growth: The case of China

Ali

et al. 2022

Front. Psychol.

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China's domestic labor market has limited demand for tertiary graduates due to an unbalanced industrial structure, with a weak contribution to economic performance over the past decade. This study estimates the asymmetric effects of higher education progress (highly educated employed workforce), higher education utilization (highly educated unemployed workforce), and the separate effects of higher education utilization interactions with high-tech industries on economic growth in China from 1980 to 2020. Using a Nonlinear Autoregressive Distributed Lag (NARDL) model, this study finds that the expansion of higher education progress (the employed workforce with higher education) promotes economic growth, while contraction of higher education progress (employed workforce with higher education) reduces economic growth. Likewise, an increase in higher education utilization (the unemployed labor force with higher education) suppresses economic growth, while a decline in the higher education utilization (the unemployed labor force with higher education) promotes economic growth. The study also found that the expansion of high-tech industries and government spending on education significantly stimulate economic growth. The moderating role of higher education utilization (unemployed labor force with higher education) in the impact of high-tech industries on economic growth is significantly positive. This study strategically proposes that China's higher-educated unemployed labor force can be adjusted to high-tech industries, which need to be developed equally in all regions. Moreover, the country is required to invest more in higher education and the development of high technological industries across all regions, thus may lead to higher economic growth.

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Section: Methodology For Estimationmentioning

confidence: 99%

RETRACTED: An empirical analysis of the impact of higher education on economic growth: The case of China

Ali

et al. 2022

Front. Psychol.

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“…The summary statistics contain the mean, median, maximum, minimum, standard deviation, skewness kurtosis, and Jarque-Bera statistics. The values of the Jarque-Bera test were obtained by inferring that our model exhibits deviation from the normal distribution and thereby necessitates an asymmetric approach such as quantile-on-quantile for empirical estimation (Shahbaz et al 2017 ; Ullah et al 2021 ; Ullah et al 2020b ).…”

Section: Empirical Results and Discussionmentioning

confidence: 99%

Impact of COVID-19 and economic policy uncertainty on China’s stock market returns: evidence from quantile-on-quantile and causality-in-quantiles approaches

Ullah

Zhao

Amin

et al. 2022

Environ Sci Pollut Res

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COVID-19 unexpectedly ensnared the entire world and wreaked havoc on global economic and financial systems. The stock market is sensitive to black swan events, and the COVID-19 disaster was no exception. Against this backdrop, this study explores the impact of COVID-19 and economic policy uncertainty (EPU) on Chinese stock markets’ returns for the period spanning January 23, 2020 to August 04, 2021. The outcomes of the novel quantile-on-quantile regression analysis revealed that both COVID-19 and EPU had a significant negative impact on both Shanghai and Shenzhen stock market returns, while COVID-19 aggravated the level of economic uncertainty in both financial markets. The quantile causality approach of Troster et al. ( 2018 ) validates our main estimations. We conclude that COVID-19 and a high level of EPU enervated the returns of China’s leading stock markets. Our study provides key insights to policymakers and market participants to determine the behavior of China’s stock market returns vis-à-vis COVID-19 during the peak of the pandemic and beyond. Specifically, our findings apprise portfolio investors to augment their portfolio diversification fronts.

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“…In obtaining ARDL and NARDL methods procedures have been followed methodological representation given by Ullah et al (2021). Accordingly, the linear model for the cointegration relationship between economic growth and energy security is denoted in Eq.…”

Section: Methodsmentioning

confidence: 99%

Are the effects of energy security on economic growth symmetric or asymmetric in Turkey? An application of non-linear ARDL

Kartal

2022

eab

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This paper is examined whether the relationship between economic growth and energy security risk level is symmetric or asymmetric in the case of Turkey between 1980 and 2018. What makes different of this study from the others few studies that examine the effects of energy security on economic growth by considering the 4A of energy security is that it examines the asymmetric impacts of energy security on economic growth by using the NARDL method. Accordingly, the results of the linear ARDL demonstrate that there is no long-term relationship between energy security risk level and economic growth. On the other hand, the results of the non-linear ARDL indicate that there is an asymmetrical relationship between economic growth and energy security risk level both in the long and short-term. Furthermore, according to the NARDL results, a 1% increase in energy security risk level decreases economic growth by approximately 0.60%, while a 1% decrease in energy security risk level increases economic growth by approximately 1.72%. These results demonstrate that economic growth in Turkey is significantly affected by positive and negative changes in the energy security risk level. Therefore, the results reveal the importance of policies to ensure energy security and allow for important policy implications for policymakers.

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Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach

Cited by 25 publications

References 96 publications

RETRACTED: An empirical analysis of the impact of higher education on economic growth: The case of China

RETRACTED: An empirical analysis of the impact of higher education on economic growth: The case of China

Impact of COVID-19 and economic policy uncertainty on China’s stock market returns: evidence from quantile-on-quantile and causality-in-quantiles approaches

Are the effects of energy security on economic growth symmetric or asymmetric in Turkey? An application of non-linear ARDL

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