International Journal of Business, Economics and Management

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No. 7

Impact of Food Beverage Price Index and Exchange Rate Volatility on Economic Growth

Pages: 158-175
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Impact of Food Beverage Price Index and Exchange Rate Volatility on Economic Growth

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Onasanya Olanrewaju k , Adeniji Oyebimpe Emmanuel

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Onasanya Olanrewaju k , Adeniji Oyebimpe Emmanuel (2014). Impact of Food Beverage Price Index and Exchange Rate Volatility on Economic Growth. International Journal of Business, Economics and Management, 1(7): 158-175. DOI:
Many factors such as money supply, exchange rate, interest rate, gross domestic product, inflation rate, unemployment rate, frictional unemployment and other flow variables have great impact on economic growth rate. These factors have significant effect on capital movement, business outlook and economic development. Over past decades, numerous studies have used these variables to investigate their impact on economic growth especially using the econometric approach. Results obtained from such studies have motivated further research. However, this research seeks to address the impact of food, beverage price index and exchange rate volatility on economic growth using annual time series data for the period: 1980 to 2010. The research entailed the use of three different unit root test techniques, Engle Granger step procedure for cointegration test, vector error correction mechanism, variance decomposition, Johansen trace test, impulse response function, Engle Granger causality test and vector auto regression. The research findings reveal that Argumented Dickey Fuller test method was the best method to identify Stationarity at 2nd difference i.e. I (2). A long run relationship was found to exist among the variables since the error of the cointegrating regression was stationary, and a singleton of long run relationship was found based on the result obtained from Johansen trace test. An independent causality was observed among the variables i.e. lagged values of real exchange rate and food beverage price index do not correlate with the lagged values of real gross domestic product rate. Statistical and positive / negative relationships were observed for real exchange rate and food beverage price index respectively. Real exchange rate has a significant effect on real gross domestic product in both long and short runs while food beverage price index has a significant effect in short run but a slight effect on real gross domestic product in long run. Short run disequilibrium was exhibited by vector error correction indicating that at about 90.1% the error will be corrected in the next period which shows that real gross domestic product will converge to its equilibrium when there is a sudden change or shock between real exchange rate and food, beverage price index. 
Contribution/ Originality

Does the Mena Countries May Converge in GDP to Southern European One? The Effects of International Trade

Pages: 146-157
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Does the Mena Countries May Converge in GDP to Southern European One? The Effects of International Trade

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Abdelhafidh Dhrifi , Samir Maktouf

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Abdelhafidh Dhrifi , Samir Maktouf (2014). Does the Mena Countries May Converge in GDP to Southern European One? The Effects of International Trade. International Journal of Business, Economics and Management, 1(7): 146-157. DOI:
The recent integration of the countries of the MENA region in globalization movement and the signing of the Euro-Med agreements with the European Union has naturally prompted researchers and economists to test the hypothesis of convergence towards the Europe. This paper, which is in this context, tends to test whether movement toward international trade will foster a reduction in the disparity of incomes among countries. More specifically, we try to answer the following question: does international trade allows MENA Countries to converge in GDP per capita to Southern European  one, and if this convergence is possible, what is the time required for a developing country to reduce the gap that separates the countries of a developed one? Using time series approach convergence over the period 1990-2011, results shows that the convergence hypothesis is checked for most of the selected countries in the MENA region.Our findings show also that the calculation of the time required for MENA countries to reduce the gap that separates to the Southern European one varies from one country to another.
Contribution/ Originality

Reminiscing Stock Splits Announcement: A Malaysian Case

Pages: 136-145
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Reminiscing Stock Splits Announcement: A Malaysian Case

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Zahiruddin Ghazali , Fauziah Md. Taib , Noraini Othman

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Zahiruddin Ghazali , Fauziah Md. Taib , Noraini Othman (2014). Reminiscing Stock Splits Announcement: A Malaysian Case. International Journal of Business, Economics and Management, 1(7): 136-145. DOI:
This study attempts to understands and verify the effects of stock splits on the abnormal returns of announcing companies share prices using Market Adjusted Returns (MAR) Model. Test findings reveal splits announcements in Malaysia result in positive but insignificant abnormal returns. Additional OLS test was carry out to examine the relationship between companies’ cumulative abnormal returns (CAAR) and prior dividend yield (PDY). Result from uni-variate regression analysis shows there is minimal but significant positive relationship between CAAR and PDY.
Contribution/ Originality

French Students of Maghreb Background and Entrepreneurship

Pages: 125-135
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French Students of Maghreb Background and Entrepreneurship

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Hicham Meghouar

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Hicham Meghouar (2014). French Students of Maghreb Background and Entrepreneurship. International Journal of Business, Economics and Management, 1(7): 125-135. DOI:
The aim of this article is to analyze the theoretical motivations for entrepreneurship among French students of Maghreb background (hereafter FSMB). Indeed, there are two opposing logics: the entrepreneurial logic, and the social integration one. Is entrepreneurship still seen as a last chance for these young studentswho are stigmatized (Goffman, 1975) and socially labeled (Becker, 1985), and who remain very often unemployed after graduation? Or does it fit in the context of the ambitious individual who wants to find a place of one’s own in an increasingly competitive social environment. This study also addresses the question of ethnic entrepreneurship by analyzing the specificity of the potential corporate projects of the French students of North African origins.
Contribution/ Originality