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INTERNATIONAL JOURNAL FOR INNOVATION EDUCATION AND RESEARCH ONLINE ISSN: 2411-2933 PRINT - ISSN: 2411-3123 INTERNATIONAL EDUCATIVE RESEARCH FOUNDATION AND PUBLISHER (IERFP) Volume- 4 Number- 8 August Edition International Journal for Innovation Education and Research www.ijier.net Vol:-4 No-8, 2016 About the Journal Name: International Journal for Innovation Education and Research Publisher: Shubash Biswas International Journal for Innovation Education and Research 44/1 Kallyanpur Main road Mirpur, Dhaka 1207 Bangladesh. Tel: +8801827488077 Copyright: The journal or any part thereof may be reproduced for academic and research purposes with an appropriate acknowledgment and a copy of the publication sent to the editor. Written permission of the editor is required when the intended reproduction is for commercial purposes. All opinions, information’s and data published in the articles are an overall responsibility to the author(s). The editorial board does not accept any responsibility for the views expressed in the paper. Edition: August 2016 Publication fee: $100 and overseas. International Educative Research Foundation and Publisher ©2016 Online-ISSN 2411-2933, Print-ISSN 2411-3123 August 2016 Editorial Dear authors, reviewers, and readers It has been a month since I was given the privilege to serve as the Chief Editor of the International Journal for Innovation Education and Research (IJIER). It is a great pleasure for me to shoulder this duty and to welcome you to THE VOL-4, ISSUE-8 of IJIER which is scheduled to be published on 31st August 2016. International Journal for Innovation Education and Research (IJIER) is an open access, peer-reviewed and refereed multidisciplinary journal which is published by the International Educative Research Foundation and Publisher (IERFP). IJIER aims to promote academic interchange and attempts to sustain a closer cooperation among academics, researchers, policy makers and practitioners from a wide range of disciplines, which contribute to state of the art in science, education, and humanities. It provides a forum for the exchange of information in the fields mentioned above by welcoming original research papers, survey papers, and work-in-progress reports on promising developments, case studies, and best practice papers. The journal will continue to publish high-quality papers and will also ensure that the published papers achieve broad international credibility. The Chief Editor, appointed by the Associate Editors and the Editorial Board, is in charge for every task for publication and other editorial issues related to the Journal. All submitted manuscripts are first screensed by the editorial board. Those papers judged by the editors to be of insufficient general interest or otherwise inappropriate are rejected promptly without external review. Those papers that seem most likely to meet our editorial criteria are sent to experts for formal review, typically to one reviewer, but sometimes more if special advice is needed. The chief editor and the editors then make a decision based on the reviewers' advice. We wish to encourage more contributions from the scientific community to ensure a continued success of the journal. We also welcome comments and suggestions that could improve the quality of the journal. I would like to express my gratitude to all members of the editorial board for their courageous attempt, to authors and readers who have supported the journal and to those who are going to be with us on our journey to the journal to the higher level. Thanks, Dr Eleni Griva Ass. Professor of Applied Linguistics Department of Primary Education University of Western Macedonia- Greece Email: [email protected] International Educative Research Foundation and Publisher ©2016 International Journal for Innovation Education and Research www.ijier.net Vol:-4 No-8, 2016 Table of content Paper ID Title Page 575 Causal nexus between fiscal deficit and economic growth Empirical evidence from 1-19 South Asia Authors: Ravinthirakumaran Navaratnam, Kasavarajah Mayandy 576 Pre-Service Basic Science Teachers’ Self-Efficacy Beliefs and Attitudes towards 20-41 Science Teaching Authors: Ernest Immaare Ngman-wara, Dorwu Ishmael Edem 577 Accelerated Bridge Construction (ABC), A Better Approach to Bridge Construction? 42-71 Authors: Mishal Ahmad Alashari 578 Two Armenian Bibles with Arabic Influences of miniature painting (Gregor Tatevatsi 72-100 1346-1410) Authors: Mahmoud Ahmed Darwish 579 Impactful Academic Advising What Students Recall Years Later 101-107 Authors: Rene Couture 580 ARCHITECTURAL PLANNING OF MINIA MOSQUES 108-131 Authors: Mahmoud Ahmed Darwish 581 MINTS The Next Economic Frontier for Investment – A Financial Analysis of the 132-145 Pharmaceutical Industry Authors: Joseph Henry Jurkowski, Dion D Daly 582 Exploration on the Management Concept of University Teachers under the New 146-150 Background of Endowment Insurance Authors: Xiang Lv 583 The Potential Disparate Impact CAEP Standard 3.2 on the Protected Classes of 151-160 Alaska Native, American Indian, African American, and Latino Members of Descent Authors: Roy Roehl 584 Simulated Impacts of Climate Change on Surface Water Yields over the Sondu Basin 161-173 in Kenya Authors: Stephen Kibe Rwigi, Jeremiah N. Muthama, Alfred O. Opere, Franklin J. Opijah, Francis N. Gichuki International Educative Research Foundation and Publisher ©2016 International Journal for Innovation Education and Research www.ijier.net Vol:-4 No-8, 2016 Causal nexus between fiscal deficit and economic growth: Empirical evidence from South Asia Ravinthirakumaran Navaratnam Business School, Department of Accounting, Finance and Economics, Griffith University, Australia Kasavarajah Mayandy Central Bank of Sri Lanka Sri Lanka Abstract The impact of fiscal deficit on economic growth is one of the most widely debated issues among economists and policy makers in both developed and developing countries in the recent period. This paper seeks to examine the impact of fiscal deficit on economic growth in selected South Asian countries, namely, Bangladesh, India, Nepal, Pakistan and Sri Lanka using time series annual data over the period 1980 to 2014. The paper uses cointegration analysis, error correction modelling and Granger causality test under a Vector Autoregression (VAR) framework. The results from this study confirmed that the fiscal deficit has a negative impact on economic growth in the South Asian countries considered in this study except Nepal, which confirmed the positive impact. The results also highlighted that the direction of causality for the SAARC countries is mixed where fiscal deficit causes economic growth for Bangladesh, Nepal and Pakistan, but the reverse is true for India and Sri Lanka. Key Words: Fiscal Deficit; Economic Growth; Granger Causality; South Asia JEL Codes: H62, O40, C32. 1. Introduction Over the decades, the impact of fiscal deficit on economic growth has generated considerable interest among economists and policy makers and acknowledged to hold forefront of policy debate in both developed and developing economies including South Asia. It is also broadly established in the literature that rising fiscal deficit could be considered as one of the key constraints which hinder the growth performance of many developing economies1. Meanwhile, Fisher also argued that large fiscal deficit is simply an indicator of general macroeconomic instability which is injurious to economic growth (Fisher, 1993). The importance of fiscal deficit as an instrument of economic growth was first envisaged by Keynes 1 The Fiscal deficit arises when the demand for government expenditure far exceeds government revenue that needs to be financed by net lending. International Educative Research Foundation and Publisher © 2016 pg. 1 Online-ISSN 2411-2933, Print-ISSN 2411-3123 August 2016 in his General Theory (Keynes, 1936). He proposed that fiscal deficit can contribute to growth in times of recession. In a recession, private sector spending falls, and saving rises which in turn leads to unused resources. Government borrowing is a way of utilizing these unused savings and ‘kick starting’ the economy. The deficit spending can help to promote higher growth, which will enable to generate higher tax revenue and thereby to reduce the fiscal deficit over time. While the impact of fiscal deficit on economic growth is a highly debated issue among economists and policy makers, there is no consensus among them whether fiscal deficit is good, bad, or neutral in terms of its real effects on economic growth. Increasing fiscal deficit is a paramount issue in maintaining macroeconomic stability. In this context, examining the impact of fiscal deficit on economic growth has much more implications from the policy-makers view about the appropriate strategies and policies which required to be adopted to promote sustainable growth and development. Though many empirical studies have shed some lights and brought the relationship of fiscal deficit and economic growth to the fore of academic discussion, the literature still remains limited in scope and the empirical results remain inconclusive. Thus, the objective of this paper is to fill the existing gap in the empirical literature via re-investigating the relationship between fiscal deficit and economic growth mainly focusing on selected South Asian countries over the period from 1980 to 2014, and to enhance the strength of the results via employing more appropriate econometric techniques. Among the South Asian economies, there have