The study investigated the impact of federal government expenditure on the Nigerian economic development. The main objective of the study was to ascertain whether there is a relationship between federal government expenditure and economic development in Nigeria. The study adopted Least Square estimation technique to evaluate the model specified using time series from 2010-2018. Real Gross Domestic Product was used as the dependent variable while federal government capital and recurrent expenditures were used as the independent variables. The result from the regression analysis shows that federal government capital and recurrent expenditures have a positive effect on real GDP. The data used in the analysis were gotten from Central Bank of Nigeria (CBN) statistical bulletin. The study recommended that federal government should direct more of its recurrent expenditure towards economic and community services as they accelerate economic development. The study also recommended proper management of public funds allocated to the agricultural sector and manufacturing industries as they have the potential of raising the nation’s production capacity and providing employment for citizens in the country.
PEST Analysis of Development Trend in China’s Online Drug Retail Market under the “Internet Plus” Strategy
Objective: to probe the current situation of the online drug retail market in China, so as to provide reference for the future development direction of the market. Method: through big data, to establish PEST model and analysis the current situation of the online drug retail market in China from the four dimensions of politics, economic, society and technology. Results and Conclusion: at present, the policy environment of China’s online drug retail market is good, the number of pharmaceutical e-commerce enterprises will continue to increase and the scale of market size will grow. Although there are still problems such as insufficient purchasing power of consumers, uneven regional development, imperfect payment method and distribution system and so on, with the continuous promotion of “Internet Plus” strategy and benign competition in the market, China’s online drug retail market will develop rapidly. With the promotion of “Internet Plus” strategy in China, relying on network technology, drug market is closely liked to e-commerce activities, and the online drug retail market has become an important form of drug sales. By collecting and analyzing big data, establishing PEST model and probing the current situation of China’s online drug retail market from four dimensions, this paper provide the direction for the future of the online drug retail market in China.
Dependence Structure between BRICS Countries and Developed Stock Markets: Evidence Using Wavelet and VMD Copula Approaches
This paper investigates the comovement in stock prices between the three developed countries (the USA, UK and Japan) and BRICS countries. (Brazil, Russia, India, China and South Africa) using Wavelet Coherence and Variational Mode Decomposition(VMD) based copula approach for the period 2002-2018. We find that not all BRICS states co-move with developed countries. Brazil moves with the USA, both in long-run and short-run, while China has least interdependence with either of the developed countries, both in long-run and short-run. It is also found that Global Financial Crisis increased the interdependencies between developed and BRICS countries. The results of both the approaches validated each other. These findings are essential for investors to make the optimal portfolios or policymakers to make macroeconomic policies.
Econometric Analysis of Macro Influencing Factors of Housing Prices in China – Comparison of two period data based on EVIEWS
As one of the pillar industries of the country, the real estate industry has developed rapidly under the influence of the market economy and people’s needs.The rising housing prices have brought a serious burden to the residents. The introduction of relevant regulatory policies has not significantly inhibited the high housing prices.Therefore, this paper takes the two periods of 1992-2001 and 2006-2015 as the two stages of real estate development and rapid development. The real estate price is the research object, and the relevant economic influence factors are selected from the macroscopic point of view.This paper analyzes and tests through Eviews software and establishes appropriate regression models to determine the main macro factors that affect housing prices.According to the comprehensive analysis of the results of the two-stage model, it is found that the money supply is always one of the factors of housing prices, and the influence is increasing. At the same time, the consumer price index has a great influence on the housing prices in 1992-2001. However, in 2006-2015 this factor was relatively reduced or even not.Finally, this paper proposes relevant policy recommendations for housing prices regulation through analysis results.
The development of information and communication technologies has reached a level where their use in government is becoming not only expedient but also inevitable. The Internet and ICT have created the technical and technological foundation that can significantly improve the efficiency of public administration, provide businesses and citizens with access to necessary information, simplify bureaucratic procedures and reduce the time for decision making. This article describes the new conditions in which the business is developing. The article presents the features of the interaction of e-government and business, the impact of e-government on the development of the economy as a whole. The authors analyzed the process of development of technologies for e-government. They reformulate the term “e-government” based on the definitions presented in the literature. The authors identified the tasks that are solved by means of e-government. Also, the authors set up indicators for evaluating the effectiveness of the e-government. Finally, the structure of the quality standard for e-government services was suggested. The implementation of the e-government demonstrates advantages for the further development of the economic sector and whole state in general.
Exploring the growth path of Silk Road story and creative industry focuses on three dimensions: industrial thought, business model and product modality. The ideological construction path of Silk Road story and creative industry includes interpreting the culture of creative industry, positioning the goals of creative industry and reflecting the values of creative industry. The business model innovation path of Silk Road story and creative indu0stry focuses on the business model innovation the value appreciation of the whole industrial chain. The growth path of Silk Road story creative products should first focus on the classification and creation of creative products, then determine the development and design path of products.
Reform in the public sector organizations starts with reforming the accounting information system. The idea of reform boosted the attempts of certain countries to take steps toward developing the accounting systems in their managements in order to improve their efficiency and to cope with the fast political and economic changes in addition to satisfying the public opinion about getting better services. International organizations, including the International Monetary Fund (IMF) have realized the importance of improving the efficiency of the public sector to improve development rates in developing countries and to get international grants and loans. Thus, a unified way to communicate among countries was needed. This study investigates the impact and impediments of implementing International Public Sector Accounting Standards (IPSAS) in Lebanon. The researchers adopted the analytical descriptive approach utilizing an empirical study. A questionnaire was constructed and distributed among a sample of Lebanese certified public accountants. The research yielded some important findings mainly that adopting and implementing IPSAS lead to the advancement in the qualitative characteristics of financial statements in public organizations in Lebanon. It also concluded that there are some obstacles in adopting and implementing IPSAS in public organizations in Lebanon.
This study analysed the long run relationship between economic growth, foreign direct investment, foreign trade, inflation, exchange rate, imports and exports for the period of 1980-2011 using annual time series analysis. It examined the dependency of economic growth on foreign trade, exchange rate, inflation and foreign direct investment. Trade openness, foreign direct investment and inflation are found stationary at level while imports, exports, exchange rate and economic growth are stationary at first difference. All the variables have long run relationship according to cointegration results. DOLS results showed that imports and exports have significant positive relationship, inflation and foreign trade have significant negative impact, and exchange rate and foreign direct investment have insignificant positive influence on economic growth. The negative impact of foreign trade can be overcome by producing import substitutes and creating conditions for trade surplus. Other policy reforms are also required to enhance the economic growth.
At present, power grid construction is playing a more and more important role in development of China power sector because of maldistribution of electric energy. This passage is based on three steps in the electrified wire netting construction process: power transformation, transmission, distribution. By summing up the feature of them, some conclusions about influence factors of power grid operating costs are required. After that, this paper analyzes negative influence of high costs. At last, keeping a reasonable control on single cost is put forward to make controlling total costs strongly possible.
This paper explores the impact effects of different knowledge capital investment on the industrial enterprises added in China. Using 2007-2016 China’s industrial enterprises panel data of 31 provinces, we analyze the space spilt effect of knowledge capital in different regions and explores the causal relationship between knowledge capital and industrial enterprises added by using the dynamic space Dubin model. The results show that: the knowledge capital investment of industrial enterprises has obvious spatial agglomeration ef-fect, and the agglomeration effect increases gradually with time. The results also show that: the estimated results under three kinds of spatial weight matrices show that the positive spillover effect of knowledge cap-ital on enterprise income is significant.