CHIANG MAI UNIVERSITY JOURNAL OF ECONOMICS

Empirical Analysis of Domestic Debt Sustainability and Determinants in Nigeria

Mojeed Adebowale — Sun, 12 Jun 2022 00:00:00 +0700

The conventional debt to GDP ratio measure of debt sustainability is widely believed to be misleading especially in a developing country context. This has led to the need for improved indicators of domestic debt sustainability such as debt to government revenue ratios. Yet, studies on the comparative usefulness of these measures remain scanty. Consequently, this paper employs the domestic debt to revenue ratio as the preferred indicator because it depicts the debt burden on the country and indicates the fiscal capacity to sustainably accumulate debt. The study relies on a debt sustainability framework while a dynamic modelling approach was used to ascertain the sustainability of debt in Nigeria for the period 1980-2019. The result revealed that debt to government revenue better reflects domestic debt sustainability in Nigeria as against debt to GDP ratio. The counterfactual simulation exercise revealed that an increase in domestic revenue mobilization makes the debt profile more sustainable. The analysis also revealed that the long-run determinants of debt in Nigeria are interest rate, the growth rate of GDP, and financial deepening while the contemporaneous determinants are inflation, exchange rate, trade openness and federal government total expenditure as a percentage of government revenue. Therefore, the paper suggests that efforts towards intensifying non-oil domestic revenue mobilization should be considered particularly through export diversification, broadening the tax base, reducing fiscal leakages and enhancing the efficiency of revenue collection could be considered.

Halal Economy System in Gulf Cooperation Council

Nipon Saengsri — Sun, 12 Jun 2022 00:00:00 +0700

ABSTRACT

Research article of Halal Economy System in Gulf Cooperation Council is a descriptive research on Halal Economy System in Gulf Cooperation Council is a study on Halal Economy System in Gulf Cooperation Council, Collecting from Al-Qur’ãn, Al-Hadith and other miscellaneous documents included primary source, secondary source and tertiary source, achieved, interpretive precedence, historical analysis and divided into several subjects.

The results showed that Halal Economic System in the Gulf Cooperation Council under Islamic law or Shari’ah therefore have the same source as Islamic law ; Al-Quran, Al-Sunnah, Al-Ijtihad and Al-Qiyas. And the same spirit is to protect human beings on the basis of religion ; life and body, intelligence, lineage, and property or resources. which makes the halal economic system in the Gulf Cooperation Council member countries It differs from the general economic system in many respects ; The basic principles are : Meaning, Intent, References, Terms : Permanent, Changeable. And conceptual framework.

Keywords : halal economy/ system/ gulf cooperation council

JEL Classification Codes : P33

5 Years of Thailand’s Special Economic Development Zones: A failure to create development?

Wannaphong Durongkaveroj — Sun, 12 Jun 2022 00:00:00 +0700

During the last few decades, many developing countries have established Special Economic Zones (SEZs) to attract foreign direct investment and help facilitate international trade. Thailand has embraced this development feature by establishing ten SEZs across the country aimed to resuscitate the economy, with a focus on high value-added industries. The purpose of this paper is to review this development strategy, with a focus on investment and local economic development. Despite investment incentive and administrative services, these SEZs fail to attract new investor and generate economic growth. Developmental outcomes in these zones are not significantly greater than the rest of the economy. I argue that this is because most of targeted industries are not in line with Thailand’s current comparative advantage, which can hinder opportunity to reap dynamic gain from trade in the era of global value chain. The upshot is that this paper calls for redesigning the SEZs to be consistent with country’s stage of economic development.

The analysis of users’ behavior and factors affecting their usage of online delivery application in Bangkok

Pramook Takiankam, Wanakiti Wanasilp — Sun, 12 Jun 2022 00:00:00 +0700

The purpose of this research was to study the demographic and behavioral factors determining the users’ choice of delivery application in Bangkok. The data were collected from an online questionnaire.

The results showed that, from 401 people who answered the questionnaires, most of them are female, aged 21-30 years old, single, bachelor's degree, occupation as employees of a private company and earning 20,001-30,000 baht per month. Regarding the behavior of online delivery application users in Bangkok, it was found that most of the respondents used the delivery application between 11.00 AM-14.00 PM, using the application 3-4 times a week, most of them used GRAB application for delivering food/supplements/drugs that cost less than 300 baht per time and relying on internet resources to decide which application to use.

As for the result from the multinomial logit model, it was found that factors affecting the selection of delivery application divided into the main positive factors that contributed to the increase in usage of each application which were age and user income while the main negative factors that resulted in a decrease in the use of each application which were male gender, company employees and parcel delivery service of online application.

An analysis of the effectiveness of the tobacco control policy

Woraluck Himakalasa — Sun, 12 Jun 2022 00:00:00 +0700

An analysis of the effectiveness of the tobacco control policy is based on the survey of National Statistical Office (NSO) on smoking and drinking behavior in 2014. The cross-sectional data was collected in June 2014 with the sample of 20,787 persons nationwide. Descriptive statistics and treatment effect models were used to analyze the data. The study found that there were several factors contributing to the increased incidence of smoking such as an individual getting started smoking at the age under 20, drinking alcohol, living outside the municipality, having higher in income, being unemployed or working in agriculture, forestry and fishery sectors, and other basic occupations. The factors were an individual was married, having high educational level and being in the age between 45 to 59 years old, would reduce the chance of smoking. The factors that increase daily dose of cigarette smoking were an individual getting started smoking at the age under 20, drinking alcohol, having higher in income, being in age group between 25 - 44 years old and working as plant and machine controllers, clerical workers, artisans, and related worker or service and sale staffs. The daily smoking dose will decrease if an individual spending more time in their study, living in non-municipal area, being in the age group of 60 and up, working as professionals or working in agriculture, forestry and fishery sectors. An effective tobacco control policy on smoking behavior was a warning picture on cigarette packets policy, public smoking ban policy and price policy.