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Financial Integration?Growth Nexus: A Quantile Regression Analysis
( Saifuzzaman Ibrahim ),( A. R Mazlina ),( W. N. W Azman-saini ),( Muhammad Farhan Mahamad Zakaria ) 세종대학교 경제통합연구소 2016 Journal of Economic Integration Vol.31 No.3
Our study aims to examine the role of economic development in moderating the relationship between international financial integration and economic growth, and we find that international financial integration has a positive impact on economic growth by and large. However, the growth impact of international financial integration does not exist in countries where economic development is too low or in highly developed countries. This suggests that policy makers, especially in developing countries, should ensure the presences of capabilities in order to gain from the financial market integration. The method involves a quantile regression technique on cross-sectional data of 73 countries.
A Study of Optimum Currency Area in East Asia: a Cluster Analysis
( Saifuzzaman Ibrahim ) 세종대학교 경제통합연구소 2008 Journal of Economic Integration Vol.23 No.4
This paper studies the feasibility of ASEAN+3 Monetary Union by investigating the homogeneities of the countries. Utilizing techniques of cluster analysis on two sets of criteria, the Optimum Currency Area (OCA) and the adjusted Maastricht Treaty (MTC), reveals that homogeneities of ASEAN+3 are low and the immediate formation of a monetary union would entail serious potential costs. Furthermore, our findings suggest that grouping differ between pre-crisis and post-crisis periods which could be due to the different impact of the crisis on the economic structure of these countries.
Saifuzzaman IBRAHIM,A. R. MAZLINA,W. N. W. AZMAN-SAINI,Nik Ahmad Sufian BURHAN 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.12
Globalization is an economic process responsible for the increase of interdependence of world economies. It enhances the mobility of national resources internationally via the integration of markets, trade and investments with minimal barriers to slow the flow of products and services. Although globalization has some positive impacts on the economy, it is said to be a factor in the decline of income inequality of the participating countries. However, the results of previous studies on the relationship between globalization and income inequality are inconclusive. This suggests that there are other factors influencing the relationship between the two variables. The purpose of this study is to examine the role of intelligence (IQ) in the globalization-income inequality relationship. This study employs the threshold regression technique and cross-nation observations from 117 sample nations for the period 1980–2016. The results show that the impact of globalization on income inequality in a nation relies on its IQ level. The results imply that economic globalization has a negative impact on income inequality in nations with lower IQ levels. It widens the gap between the poor and rich. While in nations with higher IQ levels, it seems to not have any significant impact on income distribution.
Role of Information Sharing on the Impact of Foreign Banks’ Penetration on Banking Competition
Azadeh ZOHREHVAND,Saifuzzaman IBRAHIM,Muzafar Shah HABIBULLAH,Zulkornain YUSOP,Nur Syazwani MAZLAN 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11
Globalization has led to an increase in foreign banks’ penetration. It is argued that the presence of foreign banks may affect the banking sector of the host countries in several ways including their competition level. It is mentioned that the presence of the foreign banks could heightened the level of competition in the banking sector. Nonetheless, the impact of the foreign banks on competition could be influenced by the degree of information sharing in the banking industry. This study investigates the role of information sharing in moderating the impact of foreign bank penetration on host banking sector competition in selected developing countries. We employ panel data samples of 54 developing countries during the period from 1998 to 2016. The estimation is carried out using the two-step system of the Generalized Method of Moments (GMM) regression technique. This technique is adopted due to its robustness to all forms of endogeneity. The findings of this study show that the presence of information sharing could affect the relationship between foreign banks’ penetration and competition. They suggest that improvement in information sharing by a host country may help foreign banks to improve monitoring and reduce the moral hazard and adverse selection problem.
Abubakar Abdullahi,Saifuzzaman Ibrahim,Law Siong Hook,Wan Azman Saini Wan Ngah 세종대학교 경제통합연구소 2023 Journal of Economic Integration Vol.38 No.4
This paper investigated the impact of financial integration on economic development using the dynamic panel quantile estimator on a sample of 95 countries from 2004-2019. The results showed that the impact of financial integration on economic development varied across income levels. This study found that financial integration impacted economic development negatively in middle and high-income countries. However, financial integration did not significantly affect economic development in low-income countries.
Mergers and Acquisitions and Greenfield Foreign Direct Investment in Selected ASEAN Countries
Alireza Tavakol Moghadam,Nur Syazwani Mazlan,Lee Chin,Saifuzzaman Ibrahim 세종대학교 경제통합연구소 2019 Journal of Economic Integration Vol.34 No.4
Multinational enterprises undertake Foreign Direct Investments mainly through two different modes: Mergers and Acquisitions and greenfield investments. In the sizable empirical literature that examines the determinants of Foreign Direct Investments, very few studies investigated the determinants of these modes. This article empirically analyzes the extent to which determinants such as market size, exchange rate, and market openness in six selected ASEAN countries (ASEAN-6) influence the choice of one entry mode of Foreign Direct Investments over the other. A robust relationship between market size and exchange rate with greenfield inflows rather than Mergers and Acquisitions sales is found. Additionally, given an increase in market openness, foreign firms prefer Mergers and Acquisitions to greenfield investments. The results also confirm the fire-sale Foreign Direct Investments phenomenon during financial crises.
Sheikh Julfikar Hossain,M Rabiul Islam,Tahmina Pervin,M Iftekharuzzaman,Omer A A Hamdi,Sanzida Mubassara,M Saifuzzaman,Jamil Ahmad Shilpi 한국식품영양과학회 2017 Preventive Nutrition and Food Science Vol.22 No.3
Fruits of Sonneratia apetala (Buch.-Ham.), (English: mangrove apple, Bengali: keora) both seeds and pericarps, are largely consumed as food besides their enormous medicinal application. The fruit seeds have high content of nutrients and bioactive components. The seeds powder of S. apetala was successively fractionated using n-hexane, diethyl ether, chloroform, ethyl acetate, and methanol. The fractions were used to evaluate antibacterial, anti-diarrhoeal, analgesic, and cytotoxic activities. Methanol fraction of seeds (MeS) stronly inhibited Escherichia coli strains, Salmonella Paratyphi A, Salmonella Typhi, Shigella dysenteriae, and Staphylococcus aureus except Vibrio cholerae at 500 μg/disc. All the fractions strongly inhibited castor oil induced diarrhoeal episodes and onset time in mice at 500 mg extract/kg body weight (P<0.001). At the same concentration, MeS had the strongest inhibitory activity on diarrhoeal episodes, whereas the n-hexane fraction (HS) significantly (P<0.05) prolonged diarrhoeal onset time as compared to positive control. Similarly, HS (P<0.005) inhibited acetic acid induced writhing in mice at 500 mg extract/kg, more than any other fraction. HS and diethyl ether fractions of seed strongly increased reaction time of mice in hot plate test at 500 mg extract/kg. All the fractions showed strong cytotoxic effects in brine shrimp lethality tests. Gas chromatography-mass spectrometry analysis of HS led to the identification of 23 compounds. Linoleic acid (29.9%), palmitic acid (23.2%), ascorbyl palmitate (21.2%), and stearic acid (10.5%) were the major compounds in HS. These results suggest that seeds of S. apetala could be of great use as nutraceuticals.
Hossain, Sheikh Julfikar,Islam, M Rabiul,Pervin, Tahmina,Iftekharuzzaman, M,Hamdi, Omer AA,Mubassara, Sanzida,Saifuzzaman, M,Shilpi, Jamil Ahmad The Korean Society of Food Science and Nutrition 2017 Preventive Nutrition and Food Science Vol.22 No.3
Fruits of Sonneratia apetala (Buch.-Ham.), (English: mangrove apple, Bengali: keora) both seeds and pericarps, are largely consumed as food besides their enormous medicinal application. The fruit seeds have high content of nutrients and bioactive components. The seeds powder of S. apetala was successively fractionated using n-hexane, diethyl ether, chloroform, ethyl acetate, and methanol. The fractions were used to evaluate antibacterial, anti-diarrhoeal, analgesic, and cytotoxic activities. Methanol fraction of seeds (MeS) stronly inhibited Escherichia coli strains, Salmonella Paratyphi A, Salmonella Typhi, Shigella dysenteriae, and Staphylococcus aureus except Vibrio cholerae at $500{\mu}g/disc$. All the fractions strongly inhibited castor oil induced diarrhoeal episodes and onset time in mice at 500 mg extract/kg body weight (P<0.001). At the same concentration, MeS had the strongest inhibitory activity on diarrhoeal episodes, whereas the n-hexane fraction (HS) significantly (P<0.05) prolonged diarrhoeal onset time as compared to positive control. Similarly, HS (P<0.005) inhibited acetic acid induced writhing in mice at 500 mg extract/kg, more than any other fraction. HS and diethyl ether fractions of seed strongly increased reaction time of mice in hot plate test at 500 mg extract/kg. All the fractions showed strong cytotoxic effects in brine shrimp lethality tests. Gas chromatography-mass spectrometry analysis of HS led to the identification of 23 compounds. Linoleic acid (29.9%), palmitic acid (23.2%), ascorbyl palmitate (21.2%), and stearic acid (10.5%) were the major compounds in HS. These results suggest that seeds of S. apetala could be of great use as nutraceuticals.