International Journal of Economics and Finance

International Journal of Economics and Finance (IJEF) is a double-blind peer-reviewed international journal dedicated to promoting scholarly exchange among teachers and researchers in the field of economics, financial economics and finance. The journal is published monthly in both print and online versions by the Canadian Center of Science and Education.

The scope of IJEF includes the fields in the economics and finance. Authors are encouraged to submit complete, unpublished, original, and full-length articles that are not under review in any other journals. The online version of the journal is free access and download. If you want to order print copies, please visit:

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2014 Q2: Articles Received: 128; Accepted: 85; Rejected: 44; Published: 71; Retracted: 0

2014 Q1: Articles Received: 166; Accepted: 87; Rejected: 74; Published: 71; Retracted: 0

2013: Articles Received: 548; Accepted: 253; Rejected: 292; Published: 187; Retracted: 1

2013 Q4: Articles Received: 172; Accepted: 88; Rejected: 91; Published: 50; Retracted: 1

2013 Q3: Articles Received: 139; Accepted: 53; Rejected: 74; Published: 40; Retracted: 0

2013 Q2: Articles Received: 112; Accepted: 46; Rejected: 70; Published: 44; Retracted: 0

2013 Q1: Articles Received: 125; Accepted: 66; Rejected: 57; Published: 53; Retracted: 0


  • e-Version First: Vol. 6, No. 9


IJEF follows APA style.


Author Guidelines

1. Authors must ensure that their papers are free of spelling and grammatical errors and typos.

2. Research papers should not exceed 8,000 words.

3. A separate title page of an article should contain the title of the paper, name(s) and affiliation(s) of the author(s).

4. The first page of an article should contain an abstract not exceeding 250 words and a maximum of eight keywords.

5. Equations in the text should be numbered consecutively using Arabic numerals within simple brackets and aligned against the right margin.

6. All appendices should be numbered consecutively using uppercase roman numerals and shown after the list of references.

7. References should be cited within the text as follows: According to Wickremasinghe (2005), foreign exchange market … These results are inconsistent with those of other studies (Perera, 1995; Silva, 2000)

8. List of references should show each citation in alphabetical order and follow the style of APA

9. Author should register with the journal before submitting manuscripts.

10. Page proofs will be sent to the corresponding author. The corrected manuscripts should be submitted, and the publication fee should be paid within 10 working days.

11. The publication fee is 300USD.



The publisher and journal have a policy of “Zero Tolerance on the Plagiarism”. We check the plagiarism issue through two methods: reviewer check and plagiarism prevention tool (

All submissions will be checked by iThenticate before being sent to reviewers.

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Vol 6, No 8 (2014)

Vol. 6, No. 8, August 

Table of Contents


Modeling Corporate Default Rates PDF
Xiaoming Tong p1
Big Data and the Dot Com Bubble PDF
James Cicon p15
Minimax: Portfolio Choice Based on Pessimistic Decision Making PDF
Steffen Schaarschmidt, Peter Schanbacher p23
Assessing the Averch-Johnson-Wellisz Effect for Regulated Utilities PDF
Stephen M. Law p41
Challenges of Teaching Economics in International Exchange Programs PDF
Augustin Mbemba p68
Long-Run Elasticities of Electricity Consumption, FDI, Export and GDP in Malaysia PDF
Hussain Ali Bekhet, Nor Salwati bt Othman p78
Foreign Direct Investment and Economic Growth during Financial Liberalization Episodes PDF
Quang Ngoc Nguyen, Toan My Pham, Ramaprasad Bhar p91
The Calculation of Chinese Short-Term International Capital Flow: Based on BOP PDF
Gang Shi, Zee Lian p103
The Impacts of ASEAN Labour Migration to Thailand upon the Thai Economy PDF
Utis Sanglaoid, Sumalee Santipolvut, Laemthai Phuwanich p118
Determinants of Profit Variability among Micro and Small Enterprises (MSEs) in Zambia PDF
Yordanos Gebremeskel p129
External Debts Management Strategies in Developing Economies: An Impact Assessment on Selected Economic Indices of Nigeria (2002–2011) PDF
Uche Lucy Onyekwelu, Emma Okoye, Uche Boniface Ugwuanyi p137
The Performance Persistence of Equity and Blended Mutual Funds in Kenya PDF
Mohamed Shano Dawe, Ganesh P. Pokhariyal, Muroki F. Mwaura p153
Does Foreign Capital Crowd–Out Domestic Saving in Developing Countries? An Empirical Investigation of Ghana PDF
Barnabas Nartey Angmortey, Patrick Tandoh-Offin p161
Financial Development and Economic Growth: Evidence from Lebanon PDF
Wadad Saad p173
Econometric Analysis of the Effectiveness of Public Revenue in Economic Growth in Developing Countries: An Examination of Nigerian Economy PDF
Charles Ayodele Jegede p187
Ownership Structure and Dividend Policy: Evidence from China PDF
Yordying Thanatawee p197
Margin Call in Islamic Finance PDF
Ahmet Suayb Gundogdu p205
Macroeconomic Variables, Volatility and Stock Market Returns: A Case of Nairobi Securities Exchange, Kenya PDF
Evans Kirui, Nelson H. W. Wawire, Perez O. Onono p214
Determinants of Bank Failures in Multiple-Currency Regime in Zimbabwe (2009–2012) PDF
Dzingirai Canicio, Katuka Blessing p229
Workers’ Remittance Inflow, Financial Development and Economic Growth: A Study on Bangladesh PDF
Mahedi Masuduzzaman p247
Budget Deficit and External Debt in Jordan: Causality and Co-Integration Analysis PDF
Mohammed Issa Shahateet, Fedel Al-Habashneh, Khalid Ali Al-Majali p268
Banking Sector Development and Corporate Leverage: Empirical Evidence from South African Firms PDF
Oyebola Fatima Etudaiye-Muhtar, Rubi Ahmad p278
Mergers Improve Efficiency of Malaysian Commercial Banks PDF
Devinaga Rasiah, Tan Teck Ming, Abd Halim Bin Abd Hamid p289
Reviewer Acknowledgements for International Journal of Economics and Finance, Vol. 6, No. 8 PDF
Michael Zhang p301

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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)

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