South Asian Journal of Macroeconomics and Public Finance最新文献_第3页

Exploring Systemic Risk Measurement Issues in Shadow Banks: A Case of an Emerging Economy 影子银行系统性风险度量问题探讨:以新兴经济体为例

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-07-11 DOI: 10.1177/22779787221107716

Nandita Bhattacharjee, A. P. Pati

引用次数: 1

External Debt and Real Exchange Rate Volatility in South Asia 南亚的外债与实际汇率波动

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-07-07 DOI: 10.1177/22779787221107711

M. Moazzam

引用次数: 0

Understanding the COVID Economic Crisis: A Short- Run General Equilibrium Framework 理解新冠肺炎经济危机:一个短期一般均衡框架

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-07-01 DOI: 10.1177/22779787221097787

Agnirup Sarkar

引用次数: 0

Book review: Y. V. Reddy and G. R. Reddy, Indian Fiscal Federalism 书评:Y. V.雷迪和G. R.雷迪:《印度财政联邦制》

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-06-29 DOI: 10.1177/22779787221107717

Bakshi Amit Kumar Sinha

引用次数: 0

Determinants of Stock Price Volatility: A Literature Review 股票价格波动的决定因素:文献综述

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-06-21 DOI: 10.4038/sajf.v2i1.44

Ranil Hewamana, D. Siriwardhane, A. Rathnayake

{"title":"Determinants of Stock Price Volatility: A Literature Review","authors":"Ranil Hewamana, D. Siriwardhane, A. Rathnayake","doi":"10.4038/sajf.v2i1.44","DOIUrl":"https://doi.org/10.4038/sajf.v2i1.44","url":null,"abstract":"Purpose: This paper reviews the theoretical background and the empirical results of the stock price volatility determinants under three categories: macroeconomic, company-specific fundamentals, and behavioral factors. Methodology: Previous empirical and theoretical articles on volatility determinants were compared to identify the similarities and differences of the findings. The systematic literature review followed to review the articles published in English between 1930 and 2021. Design: A critical literature review was performed by comparing the findings of previous studies based on the development status of the market. We discuss determinants of stock price volatility. Determinants include behavioral (non-fundamental) factors and macro-economic factors such as GDP, Inflation, Interest Rate, Money Supply, and Exchange Rate. In addition to Earnings and Dividend Payments have been considered under company-specific fundamentals. Findings: It was found that there is no agreement between the studies on the macro-level and micro-level determinants of stock volatility. This empirical inconsistency is substantial in GDP, Inflation, Money Supply, Exchange Rate, Earnings, and Dividend Payments. The interest rate is the only determinant that shows moderate inconclusive empirical results. However, behavioral determinants appear to be significance consistency in determining the stock price volatility. Originality: This article reviews the theoretical and empirical background of stock volatility determinants since there is no single article for reviewing theoretical and empirical results. In a single paper, we provide evidence relating to the impact of macroeconomic, company-specific, and behavioral factors on stock price volatility. Research Directions – Future research is needed to examine the reason for empirical inconsistency in volatility determinants. A systematic literature review is essential.","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"98 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2022-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76129976","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

Banking Sector Development and Economic Growth in Sri Lanka: An Econometric Analysis 斯里兰卡银行业发展与经济增长:计量经济学分析

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-06-21 DOI: 10.4038/sajf.v2i1.42

M. Wijesinghe, P. Dulanjani

{"title":"Banking Sector Development and Economic Growth in Sri Lanka: An Econometric Analysis","authors":"M. Wijesinghe, P. Dulanjani","doi":"10.4038/sajf.v2i1.42","DOIUrl":"https://doi.org/10.4038/sajf.v2i1.42","url":null,"abstract":"Purpose: This study aims to explore the role of the banking sector in elevating the economic growth of Sri Lanka by identifying the short-run and long-run relationship between banking sector development and economic growth in Sri Lanka. Design/Methodology/Approach: This study uses annual data for the period 1960 to 2019 from World Bank's Global Financial Development Database and World Development Indicators. Odedokun's model, which assumes the causation between financial development to economic growth, is employed using the bound test within the ARDL framework. Findings: The estimated long-term parameter of the banking industry development indicator was found to be positively affected economic growth by supporting supply-led growth model. The estimations of the Error Correction Model provide a broad picture of the short-term relationship, and the results are highly consistent with the results of the long-term model. Granger Causality test found that the banking sector development granger cause to the GDP indicating a unilateral relationship. Originality: This study differs from the existing studies, which focus on the neoclassical one-sector aggregate production model. Financial development is input along with other real sector variables to identify the short-run and long-run relationship with the help of a newly developed econometric approach.","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"1 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2022-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89970837","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

Influence of Behavioral Biases on Investment Decision Making with Moderating Role of Financial Literacy and Risk Attitude: A Study Based on Colombo Stock Exchange 行为偏差对投资决策的影响:金融素养和风险态度的调节作用——基于科伦坡证券交易所的研究

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-06-21 DOI: 10.4038/sajf.v2i1.32

S. Ranaweera, B. Kawshala

引用次数: 0

Stakeholders’ Perception on Auditors’ Role and Its Impact on Audit Expectation Gap with Special Reference to Licensed Commercial Banks in Sri Lanka 利益相关者对审计师角色的认知及其对审计期望差距的影响——以斯里兰卡持牌商业银行为例

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-06-21 DOI: 10.4038/sajf.v2i1.40

S. Prawanth, K. Perera

{"title":"Stakeholders’ Perception on Auditors’ Role and Its Impact on Audit Expectation Gap with Special Reference to Licensed Commercial Banks in Sri Lanka","authors":"S. Prawanth, K. Perera","doi":"10.4038/sajf.v2i1.40","DOIUrl":"https://doi.org/10.4038/sajf.v2i1.40","url":null,"abstract":"Purpose: This study was conducted to understand the stakeholder perception on auditors’ role and its impact on audit expectation gap. Design/Methodology/Approach: A sample of 457 shareholders, employees, customers, and auditors from different licensed commercial banks were selected for the study using the convenience sampling method. Information collected through questionnaires was analyzed using descriptive analysis and Mann Whitney U test. Findings: The study revealed an audit expectation gap between auditors and the shareholders; the auditors and customers; and auditors and employees in the areas of audit responsibility, the usefulness of audited financial statements, audit education, and providing non-assurance services. However, this gap was not significant with regard to audit reliability among auditors and employees. Practical Implication: The main reason behind this gap is the lack of proper education and understanding of the audit standards and audit practices. This gap can be reduced by giving adequate knowledge and awareness of audits to the stakeholders and the users of financial statements in general. Limitations: The study considered the stakeholders of licensed commercial banks in Sri Lanka, whereas there are so many other financial institutions registered under the Central bank of Sri Lanka.","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"63 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2022-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81445146","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

Illicit Financial Flows through Trade Mis-Invoicing in India: An Empirical Analysis of the Major Commodities Involved in Mis-Invoicing 印度贸易虚开发票导致的非法资金流动:对虚开发票主要商品的实证分析

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-05-22 DOI: 10.1177/22779787221092272

Praveen Tiwari, J. Akhter, S. Chattopadhyay

{"title":"Illicit Financial Flows through Trade Mis-Invoicing in India: An Empirical Analysis of the Major Commodities Involved in Mis-Invoicing","authors":"Praveen Tiwari, J. Akhter, S. Chattopadhyay","doi":"10.1177/22779787221092272","DOIUrl":"https://doi.org/10.1177/22779787221092272","url":null,"abstract":"This article identifies, based on reported trade data between India and its 19 trading partners, the major commodities exhibiting mis-invoicing during 2000–2018, the extent of mis-invoicing, major trade partners and the associated ports of trade in India. The computed differences in the trade values are too large to be explained by accounting or classification errors, presenting strong evidence of mis-invoicing; however, only a small percentage of commodities account for bulk of mis-invoicing consistently over the years. There is also evidence of the same commodities exhibiting under-invoicing (UI) in trade with some countries and over-invoicing (OI) in trade with others. The tariff rates seem to influence the type of import mis-invoicing—OI being mainly in commodities with higher tariff and UI in commodities with lower tariff. The article contributes to the existing literature by identifying the specific commodities with their 6-digit HS codes, and commodity groups prone to mis-invoicing, which can provide a robust framework for further investigation of transaction level data that may help pinpoint the parties involved in mis-invoicing and associated illicit flows. The findings of the article provide inputs for policies to mitigate the impact of illicit financial flows through trade mis-invoicing. JEL Classifications: F13, F14, C32, H26","PeriodicalId":40308,"journal":{"name":"South Asian Journal of Macroeconomics and Public Finance","volume":"11 1","pages":"185 - 216"},"PeriodicalIF":0.9,"publicationDate":"2022-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45555197","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 Optimal Magnitude of Government Spending: Evidence from Cambodia 政府支出的最佳规模：来自柬埔寨的证据

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South Asian Journal of Macroeconomics and Public Finance Pub Date : 2022-05-22 DOI: 10.1177/22779787221093116

Leanghak Hok, Z. Bartha

引用次数: 1