Financial Economics Letters最新文献

How Shopping Platforms Play a Role in the Credit Card Industry 购物平台如何在信用卡行业发挥作用

Financial Economics Letters Pub Date : 2024-03-14 DOI: 10.58567/fel03020002

Sipeng Zeng

引用次数: 0

Nexus Between Asset Class Volatility and the Output Gap in Nigeria: A Bayesian Var Approach 尼日利亚资产类别波动性与产出缺口之间的联系：贝叶斯变量法

Financial Economics Letters Pub Date : 2024-01-19 DOI: 10.58567/fel03010004

Richard Umeokwobi, A. Awujola, Emeka Nkoro, Marvelous Aigbedion

{"title":"Nexus Between Asset Class Volatility and the Output Gap in Nigeria: A Bayesian Var Approach","authors":"Richard Umeokwobi, A. Awujola, Emeka Nkoro, Marvelous Aigbedion","doi":"10.58567/fel03010004","DOIUrl":"https://doi.org/10.58567/fel03010004","url":null,"abstract":"Excessive volatility in financial markets can disrupt economic activity, affect investor and consumer confidence, and potentially lead to financial crises in an economy. Due to this backdrop, this study examined the link between asset class volatility and the output gap in Nigeria. The asset classes were categorized into stock, crude, gold, and bitcoin. The study adopted the GARCH and Bayesian VAR approach and found that all share index has an initial negative impulse with output gap while other asset classes have a positive impulse on output gap. The outcome of this study revealed to both policymakers and economists the potential risks and vulnerabilities of asset class volatility in the economy. Based on this result, recommendations are made amongst which is the strengthening of the Nigerian stock market to help with the inflationary pressures this is because the Nigerian stock market hurt the output gap also, the government should prioritize investing in crude, gold, and bitcoin to push the actual output to full capacity, which brings about employment.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":"92 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139612752","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

African exchange rates amidst the COVID-19 pandemic 大流行病 COVID-19 中的非洲汇率

Financial Economics Letters Pub Date : 2024-01-17 DOI: 10.58567/fel03010005

Turki Rashed Alshammari

{"title":"African exchange rates amidst the COVID-19 pandemic","authors":"Turki Rashed Alshammari","doi":"10.58567/fel03010005","DOIUrl":"https://doi.org/10.58567/fel03010005","url":null,"abstract":"The study investigates the impact of COVID-19 on African exchange rates, employing a panel dataset over the period 2016-2022 from 13 African economies and employing pooled OLS estimator. The findings reveal a noteworthy positive correlation between COVID-19 levels and exchange rates within the region. However, this association necessitates deeper exploration due to its multifaceted implications, including economic disruptions, government interventions, global market interconnections, regional stability perceptions, and investor behavior. Economic indicators, such as GDP, inflation rate, real interest rate, and unemployment rate, significantly influence exchange rates. While GDP positively impacts exchange rates through economic growth, investor confidence, and trade strength, controlled inflation fosters investor confidence and export competitiveness, positively affecting exchange rates. Moreover, a pronounced positive impact of the real interest rate indicates economic stability, attracting investment and contributing to currency appreciation. Conversely, high unemployment negatively affects exchange rates, signaling economic weaknesses and eroding investor confidence. These findings emphasize nuanced policy responses for managing health crisis-induced economic disruptions and suggest future research directions focusing on specific country-level analyses and multifaceted factors influencing currency valuations within African economies.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":" 428","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139617811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asymmetric Efficiency: Contrasting Sustainable Energy Indices with Dirty Cryptocurrencies 不对称效率：可持续能源指数与肮脏加密货币的对比

Financial Economics Letters Pub Date : 2024-01-16 DOI: 10.58567/fel03010002

Rosa Galvão, Rui Dias

{"title":"Asymmetric Efficiency: Contrasting Sustainable Energy Indices with Dirty Cryptocurrencies","authors":"Rosa Galvão, Rui Dias","doi":"10.58567/fel03010002","DOIUrl":"https://doi.org/10.58567/fel03010002","url":null,"abstract":"This paper examines the efficiency, in its weak form, of the clean energy stock indices, Clean Coal Technologies, Clean Energy Fuels, and Wilderhill, as well as the cryptocurrencies classified as \"dirty\", due to their excessive energy consumption, such as Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETH Classic), and Litecoin (LTC), from January 2020 to May 30, 2023. In order to meet the research objectives, the aim is to answer the following research question, namely whether: i) the events of 2020 and 2022 accentuated the persistence in the clean energy and dirty energy indices? The results show that clean energy indices such as digital currencies classified as \"dirty\" show autocorrelation in their returns; the prices are not independent and identically distributed (i.i.d). In conclusion, arbitrage strategies can be used to obtain abnormal returns, but caution is needed as prices can rise above their real market value and reduce trading profitability. This study contributes to the knowledge base on sustainable finance by teaching investors how to use forecasting strategies on the future values of their investments.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":"42 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139528223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Impact of Economic Policy Uncertainty on Systemic Risk in the Fintech Industry: Evidence from Crisis Events and the COVID-19 Pandemic 经济政策不确定性对金融科技行业系统性风险的影响：来自危机事件和 COVID-19 大流行病的证据

Financial Economics Letters Pub Date : 2024-01-16 DOI: 10.58567/fel03010003

A. Maghyereh, Jinxin Cui

引用次数: 0

How do financial regulations and economic freedoms affect bank profitability? Empirical Evidence from the OIC Region 金融监管和经济自由如何影响银行盈利能力？来自伊斯兰会议组织地区的经验证据

Financial Economics Letters Pub Date : 2024-01-15 DOI: 10.58567/fel03010001

Ousman Mohammed Yimam

{"title":"How do financial regulations and economic freedoms affect bank profitability? Empirical Evidence from the OIC Region","authors":"Ousman Mohammed Yimam","doi":"10.58567/fel03010001","DOIUrl":"https://doi.org/10.58567/fel03010001","url":null,"abstract":"Banks operating within a free economic environment and with constructive regulatory frameworks can function with enhanced efficiency, augmenting their profitability. This study aimed to examine the influence of economic freedom and financial restrictions on banks' profitability within the Organization of Islamic Cooperation member nations. The study used a sample of 1453 banks, collecting panel data spanning 13 years. The System-GMM methodology was justified based on the enduring characteristics of the data and the profitability metrics. The dependent variables, namely the Net Income Margin, Return on Average Assets, and Return on Average Equity were individually examined. The research findings indicate that most economic freedom indicators, except for investment freedom, harm bank profitability. The influence of the rule of law on profitability indicators is mostly adverse, although regulatory quality within the financial system has a comparatively favorable effect on profitability. Furthermore, bank-specific performance indicators had a negative impact on profitability, except for bank size. Moreover, country-specific variables substantially impact banks' profitability, including inflation, tax, and interest rates. The presence of Islamic banking has been shown to substantially impact the profitability performance of banks within the Organization of Islamic Cooperation. OIC banks' profitability is adversely impacted by the ongoing health crises, including the Covid-19 pandemic.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":"14 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139529703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A study on the perception towards the impact of inflation of people of Gujarat state 关于古吉拉特邦人民对通货膨胀影响的看法的研究

Financial Economics Letters Pub Date : 2024-01-15 DOI: 10.58567/fel02030005

Kalpesh Gandhi

{"title":"A study on the perception towards the impact of inflation of people of Gujarat state","authors":"Kalpesh Gandhi","doi":"10.58567/fel02030005","DOIUrl":"https://doi.org/10.58567/fel02030005","url":null,"abstract":"Economy has various stages which have been described as economic cycle and due to that the circulatory movement observed, some have faster cycle some have longer cycle which depends on numbers of factors and from that inflation is an important segment. Various terms have been described for inflation, in simple meaning when price of different commodities have been raised compared to previous stage due to depreciation of currency having lesser purchasing power. Perception of people towards inflation and its impact is the main crux of the study, because how the people think about technical terms is vital matter. The present study is based on primary data collected from 277 respondents through questionnaire from the Gujarat state India. The perception has been analysed from four statement have been asked in Lickert’s five scale form. The one-way ANOVA has been used to test the hypotheses and it has been found from that in first statement regarding price of commodity once increase then it will not decrease due to inflation has significant difference with place, education and age of the respondents and in rest three statement no significant differences have been observed.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":"13 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139529782","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

COVID-19 and SMEs deposits with commercial banks: evidence from African economies COVID-19 和中小企业在商业银行的存款：非洲经济体的证据

Financial Economics Letters Pub Date : 2024-01-08 DOI: 10.58567/fel02030004

A. Y. Saif-Alyousfi

{"title":"COVID-19 and SMEs deposits with commercial banks: evidence from African economies","authors":"A. Y. Saif-Alyousfi","doi":"10.58567/fel02030004","DOIUrl":"https://doi.org/10.58567/fel02030004","url":null,"abstract":"This paper examines the impact of COVID-19 on Small and medium-sized enterprises (SMEs) deposits across 13 African nations from 2016 to 2022, using a seven-year dataset and Ordinary Least Squares estimator. Notably, it uncovers a significant positive link between the pandemic and SMEs deposits, indicating heightened reserves amidst economic uncertainty, potentially driven by risk mitigation or government support. Associations between gross domestic product (GDP), inflation, unemployment, foreign direct investment (FDI), exchange rates, and SMEs deposits were evident, showcasing higher GDP aligning with increased deposits, while inflation and unemployment linked to reduced ones. FDI showed a positive influence, and exchange rate fluctuations notably affected SMEs deposits, especially for those in international trade. These findings emphasize policy reconsideration for crisis strategies supporting SMEs reserves during uncertainty and interventions addressing inflation, unemployment, and exchange rate risks. Future research exploring regional nuances and global comparisons could further enrich policymaking for resilient SMEs amid evolving economic landscapes.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":"49 20","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139448020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Digital Currency and Financial Markets in Nigeria: Impact and Policy Implications 尼日利亚的数字货币和金融市场：影响和政策含义

Financial Economics Letters Pub Date : 2023-12-01 DOI: 10.58567/fel02030003

Chioma Nwosu Peace, Bosha Ernest Oryiman, Abubakar Ibrahim Sani

{"title":"Digital Currency and Financial Markets in Nigeria: Impact and Policy Implications","authors":"Chioma Nwosu Peace, Bosha Ernest Oryiman, Abubakar Ibrahim Sani","doi":"10.58567/fel02030003","DOIUrl":"https://doi.org/10.58567/fel02030003","url":null,"abstract":"The rise of privately issued digital currencies, which primarily serve as alternative investment assets poses a challenge to the traditional financial instruments traded in the financial market. This study examines the dynamic relationship between the major privately issued digital currency (Bitcoin) and two financial market securities in Nigeria. The paper employed Vector Autoregressive (VAR) model and presents three relevant findings. First, the impulse response function indicates the absence of a significant response of the Nigerian financial market to shocks emanating from the Bitcoin market, implying lower connectedness between the two markets. Secondly, the outcome of the variance decomposition reveals a lower contribution of Bitcoin to changes in stock prices and treasury bills, however, stock prices and treasury bills contributed higher impact to each other compared to the contribution of Bitcoin. Thirdly, a weak bi-directional causality between the Bitcoin and treasury bills was observed and a uni-directional causality running from treasury bills and stocks, implying the existence of portfolio rebalancing from the fixed income to the equities market. Despite the weak connection between digital currency and the financial market, the paper recommends that the Central Bank of Nigeria and the Securities and Exchange Commission should maintain monitoring the development of crypto exchanges and continue reviewing the existing policy restricting cryptocurrency transactions through banks to avoid its unsavoury effects.","PeriodicalId":262077,"journal":{"name":"Financial Economics Letters","volume":"119 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138608394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A pipeline between producer and consumer prices in Ghana: A Policy Issue 加纳生产者价格与消费者价格之间的管道：政策问题

Financial Economics Letters Pub Date : 2023-11-20 DOI: 10.58567/fel02030002

J. W. Ahiadorme, Linda Akoto

引用次数: 0