Tag: R21

USING ARDL APPROACH TO COINTEHRATION FOR INVESTIGATING THE RELATIONSHIP BETWEEN PAYMENT TECHNOLOGIES AND MONEY DEMAND ON A WORLD SCALE

Payam MOHAMMAD ALIHA

Ph.D candidate, National University of Malaysia (UKM), Malaysia

payammaliha@gmail.com

Tamat SARMIDI

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

tamat@ukm.edu.my

Abu Hassan SHAAR

Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

ahassan@ukm.edu.my

Fathin FAIZAH SAID

Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

fatin@ukm.edu.my

Abstract

This paper estimates the relationship between financial innovation and money demand in world countries with a focus on the number of automated teller machines (ATMs) using the ARDL approach to cointegration. In this study, we estimated a conventional money demand model with currency in circulation (M2) as dependent variable and gross domestic product (GDP, constant 2005 US$), interest rate (IRATE), the number of automated teller machines per 100,000 adults (ATM) to take into account for the effects of financial innovation as dependent variables. It covers 215 countries and territories over the period 2004-2013. This paper adopts the bounds testing procedure developed by Pesaran et al. (2001) to test the stability of the long-run money demand and determine the short-run dynamics for all of the countries as a whole. The empirical evidence points to the existence of long-run and cointegrating relationships between variables meaning all of these variables move together in the long run. The speed of adjustment toward long run equilibrium is – 0.4345 which means that the whole system gets back to long run equilibrium at the speed of 43.45 percent. The results confirm that in the short-run, ATM does not impact money demand.

Keywords: Money demand, Financial innovations, Stability, ARDL, Cointegration.

JEL classification: R21, R32

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CABLE AND PIPELINE CORRIDORS UNDER THE LEGAL FRAMEWORK OF UNCLOS END THE ENERGY TREATY. GEOPOLITICAL CONSIDERATIONS AT THE EASTERN MEDETERRANEAN SEA

Georgios-Alexandros SGOUROS

gesgour@geol.uoa.gr

Ioannis Th. MAZIS

Professor of Economic Geography and Geopolitics,  Dept. of Turkish and Modern Asian Studies. National and Kapodistrian University of Athens

yianmazis@turkmas.uoa.gr

Abstract

This article is divided in three sections; the first is presenting the plethora of fiber optic and power cable geographical distribution, providing to the reader an insight to underwater infrastructure. Readers can bind together the importance of survey, lay, repair and maintenance of underwater cables and pipelines, based on the legal framework provided by the Energy Treaty and UNCLOS. The second section provides a brief report on notions mentioned in the International Energy Treaty. We also mention the Energy Treaty and the Energy Treaty Charter as a case study for pipeline and power cable installations; At the third section, we focus especially at the genesis of UNCLOS with regards to the EEZ maritime zone regime; At this section, we will present the difference between the terms marine research and cable route study, based on the applicable UNCLOS conventional terminology. The last section of this article will be an effort to carefully examine whether these two Treaties are sufficient to regulate transnational cable surveying and laying operations under the current geopolitical frame in the Eastern Mediterranean Sea; as new oil and gas fields are being developed in the region two factors affect the geopolitical equilibrium: 1) The disputed EEZs in the Eastern Mediterranean, 2) The role of Turkey based on its destabilizing and revisionist stand as this is highlighted by extreme geopolitical behaviors causing the present instability in the geopolitical environment of the Eastern Mediterranean, mainly with regards to the supply of energy from discovered gas reservoirs in the Eastern Mediterranean.

Keywords: EEZ, UNCLOS, Energy Treaty, Cables, Pipelines

JEL classification: R21, R32

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LIVE HERE…? NO, THANK YOU! MIGRATION AND ITS CAUSES IN MOENCHENGLADBACH – A CITY FOR LIVING AND WORKING

Rüdiger HAMM

Head of the Niederrhein Institute for Regional and Structural Research (NIERS) at the Niederrhein University of Applied Sciences in Moenchengladbach, Germany, Richard-Wagner-Straße 140, 41065 Moenchengladbach, +4921611866411

ruediger.hamm@hs-niederrhein.de

Geogr. Katja KEGGENHOFF

Research Assistant at the Niederrhein Institute for Regional and Structural Research (NIERS) at the Niederrhein University of Applied Sciences in Moenchengladbach, Germany, Richard-Wagner-Straße 140, 41065 Moenchengladbach, +4921611866424, katja.keggenhoff@hs-niederrhein.de

Angelika JAGER

Research Assistant at the Niederrhein Institute for Regional and Structural Research (NIERS) at the Niederrhein University of Applied Sciences in Moenchengladbach, Germany, Richard-Wagner-Straße 140, 41065 Moenchengladbach, +4921611866432, angelika.a.jaeger@gmail.com

The original version of this document was drafted in German and published in the journal RaumPlanung 185 / 3-2016 of the `Informationskreis für Raumplanung e.V.´ (IfR).

Abstract

One of the essential tasks and goals of local policy makers and administrations is to provide a high quality of life and work for citizens and employees in a specified location. This especially applies in times of demographic change, in which cities are increasingly facing the challenge of an aging and shrinking population in the inter-municipal competition. Hence, key questions arise, such as: Which factors determine choice of location of private households? How are these factors evaluated in the living and working area of Moenchengladbach? In order to answer these questions, in a first step the migration processes of the city of Moncheng-ladbach are examined based on secondary statistics. In a second step, three primary statistical sur-veys are conducted in order to reveal information on which crucial factors influence the choice of residence for the observed migration processes and how the quality of Moenchengladbach as a resi-dential location is evaluated.

Keywords: Migration, Urban development, Locational factors, Citizens’ satisfaction, Job mobility

JEL classification: R21, R32

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