Purpose The purpose of this paper is to assess the empirical cointegration, long-run and short-run dynamics as well as causal relationship between electricity consumption and real GDP in Bangladesh for the period of 1971‒2014. Design/methodology/approach Autoregressive Distributed lag (ARDL) “Bound Test” approach is employed for the investigation in this study. Findings Both short-run and long-run coefficients are providing strong evidence of having positive significant association between electricity consumption and GDP. Our long-run results remain robust to different measurements and estimators as well. The study reveals the unidirectional causal flow running from per capita electricity consumption to per capita real GDP in the short run. The study result also yields strong evidence of bidirectional causal relationship between per capita electricity consumption and per capita real GDP in the long run with feedback. It is suggested that both electricity generation and conservation policy will be effective for Bangladesh economy. Originality/value In prior studies, lack of causality between electricity consumption and GDP is due to the omitted variables. Combined effects of public spending and trade openness on GDP and electricity consumption are also considerable.

Purpose – The factors that determine foreign direct investment (FDI) are important to policy-makers, investors, the banking industry and the public at large. FDI in Ghana has received increased attention in recent times because its relevance in the Ghanaian economy is too critical to gloss over. The purpose of this paper is to examine the determinants of FDI in Ghana between the period of 1990 and 2015. Design/methodology/approach – The study employed a causal research design. The study used the Johansen’s approach to cointegration within the framework of vector autoregressive for the data analysis. Findings – The study found a cointegrating relationship between FDI and its determinants. The study found that both the long-run and short-run results found statistically significant negative effects of inflation rate, exchange rate and interest rate on FDI in Ghana while gross domestic product, electricity production and telephone usage (TU) had a positive effect on FDI. Research limitations/implications – The study found a cointegrating relationship between FDI and its determinants. The study found that both the long-run and short-run results found statistically significant negative effects of inflation rate, exchange rate and interest rate on FDI in Ghana whiles gross domestic product, electricity production and TU had a positive effect on FDI. Practical implications – This study has potential implication for boosting the economies of developing countries through its policy recommendations which if implemented can guarantee more capital inflows for the economies. Social implications – This study has given more effective ways of attracting more FDI into countries which in effect achieve higher GDP and also higher standard of living through mechanisms and in the end creating more social protection programs for the people. Originality/value – Although studies have been conducted to explore the determinants of FDI, some of the core macroeconomic variables such as inflation, interest rate, telephone subscriptions, electricity production, etc., which are unstable and have longstanding effects on FDI have not been much explored to a give a clear picture of the relationships. Therefore, a study that will explore these and other macroeconomic variables to give clear picture of their relationships and suggest some of the possible ways of dealing with these variables in order to attract more FDI for the country to achieve its goal is what this paper seeks to do.

Purpose – The purpose of this paper is to examine the effect of support price on wheat production in Pakistan during the period 1971–2016. Design/methodology/approach – To capture the effect of support price on wheat production, the authors estimated the long-run linkage by using the ARDL bounds testing approach to cointegration. Findings – This study confirmed the presence of a positive and long-term effect of area under cultivation, support price and fertilizer consumption on wheat production through ARDL bounds test. The results showed that both in the long run and short run, support price plays an important role in the enhancement of wheat production. The authors also found that the coefficients of the area under cultivation and fertilizer consumption variables were statistically significant and positive both in the long run and short run. Originality/value – The use of the ARDL approach that examines the long-run and short-run effects of support price on wheat production in Pakistan makes the current study unique. An emerging economic literature suggests that only limited research has been conducted in this area.

Purpose – The purpose of this paper is to evaluate the technical efficiency in the Jordan insurance market and examine the internal and external determinants that appear to affect the technical efficiency of the insurance companies. Design/methodology/approach – The study used panel data for 22 insurance companies operating inside Jordan over the period 2000–2016. The author used the data envelopment analysis to evaluate the technical efficiency scores, slacks-based and logit models to examine the efficiency determinants. Findings – The study found that there is a slight development of technical efficiency for the Jordanian insurance companies during the study period. In addition, there is a substantial efficiency difference among insurance companies each year, and there is a variation at the level of efficiency for each company in each year. The results also showed that owners’ equities are among the most important internal determinants of companies’ efficiency, and there is a significant correlation between type, size and return on assets of the insurer and its efficiency. Originality/value – This study provides insurance management with relevant indicators that would guide them to make efficient use of the resource base. The period of study also covers the period following the adoption of the insurance law and the issuance of most of the legislation related to the work of insurance companies.