Journal of Economics and Political Economy最新文献_第4页

Did Brexit change the behaviour of the UK’s financial markets? 英国脱欧是否改变了英国金融市场的行为?

Journal of Economics and Political Economy Pub Date : 2019-05-26 DOI: 10.1453/JEPE.V6I2.1868

Bachar Fakhry

{"title":"Did Brexit change the behaviour of the UK’s financial markets?","authors":"Bachar Fakhry","doi":"10.1453/JEPE.V6I2.1868","DOIUrl":"https://doi.org/10.1453/JEPE.V6I2.1868","url":null,"abstract":"Abstract. The recent UK referendum results and subsequent initiation of Article 50 in the 2007 Lisbon Treaty set in motion the UK’s withdrawal from the European Union, acknowledge as Brexit. The result and subsequent action were unprecedented and for many unforeseeable. Apart from the political instability and division of the country, the complicated and long process of Brexit have both economic and financial consequences. With this in mind, we analyse the impact of Brexit on four main British financial markets: Equity, Foreign Exchange, Gold and Sovereign Debt; using daily data. We extendthe variance bound test proposed by Fakhry & Richter (2018) underpinned by an asymmetrical C-GARCH-m model of volatility. Unlike many in the past, we placed the emphasis on the stable markets; thus introducing the stable marketpre-condition hypothesis. We analyse the long and short run effects of Brexit on the stability of the UK’s financial market. Our results hint at a certain impact on the UK’s financial market in both the long and short runs on the market stability and hence efficiency. This seems to be dictated by the reaction of market participants to uncertainty surrounding the future of the UK Keywords. Volatility test, Asymmetrical C-GARCH-m, Financial markets, Brexit. JEL. C12, C58, D81, G01, G14, G15, G18, G40.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129124127","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: 4

Jean Tirole, Economics for the Common Good 让·梯若尔，共同利益经济学

Journal of Economics and Political Economy Pub Date : 2019-03-30 DOI: 10.1453/JEPE.V6I1.1858

S. Carson

引用次数: 0

Searching for the credibility of monetary policy in Turkey: Evidence from structural VAR analysis 寻找土耳其货币政策的可信度:来自结构性VAR分析的证据

Journal of Economics and Political Economy Pub Date : 2019-03-11 DOI: 10.1453/JEPE.V6I1.1851

Buket Alkan

引用次数: 0

Searching for a development paradigm in Ghana: Can the ‘Beijing Consensus’ provide an Anchor? 在加纳寻找发展范式:“北京共识”能否提供一个锚点?

Journal of Economics and Political Economy Pub Date : 2019-03-07 DOI: 10.1453/JEPE.V6I1.1837

I. Hlovor, Yusif Shahibu

引用次数: 3

The contribution of participation banks on the development of the mixed banking system: case of the Turkish Republic 参与银行对混合银行体系发展的贡献:以土耳其共和国为例

Journal of Economics and Political Economy Pub Date : 2019-03-06 DOI: 10.1453/JEPE.V6I1.1841

Zouhair El Azzouzi, M’hamed Hamiche

{"title":"The contribution of participation banks on the development of the mixed banking system: case of the Turkish Republic","authors":"Zouhair El Azzouzi, M’hamed Hamiche","doi":"10.1453/JEPE.V6I1.1841","DOIUrl":"https://doi.org/10.1453/JEPE.V6I1.1841","url":null,"abstract":"Abstract. In this paper, we examine the impact of participation banks on the development of the hybrid banking system in the Turkish Republic, through an empirical study of independent variables that represent the development of participation banks such as allocated funds, raised funds and net profits, and the development of the mixed banking system that is represented by total assets and this is during the period of December 2011 to July 2018, it’s about 80 observations. First, we will start with the unit root test such as ADF, PP and KPSS tests to verify the stationarity of all variables, then we will apply the Johansen cointegration test for the long-term relationship to verify if there is a long-term co-integration relationship between the dependent variable and the independent ones. The results showed that all variables are stationary at the same level (2nd difference), so they are integrated in the same order (I1), while the Johansen test found that there are three long-term cointegration relationships between the variables involved. So, we concluded that participation banks contribute in the long term to the development of the mixed banking system of the Turkish Republic. Keywords. Participation banks, Mixed banking system, Turkey, Unit root test, Cointegration test. JEL. D39, E49, F69, F69, G21.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117149492","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

Unemployment and wages and centralization in wage bargaining: Some analytical explanations 失业、工资和工资谈判中的集中化:一些分析解释

Journal of Economics and Political Economy Pub Date : 2019-03-06 DOI: 10.1453/JEPE.V6I1.1829

A. Martins

引用次数: 0

Theodore Ahlers & Harinder S. Kohli (eds.), Africa Reset: A New Way Forward Theodore Ahlers & Harinder S. Kohli(编)，《非洲重置:前进的新道路》

Journal of Economics and Political Economy Pub Date : 2019-01-08 DOI: 10.1453/JEPE.V5I4.1779

D. Chakraborty

{"title":"Theodore Ahlers & Harinder S. Kohli (eds.), Africa Reset: A New Way Forward","authors":"D. Chakraborty","doi":"10.1453/JEPE.V5I4.1779","DOIUrl":"https://doi.org/10.1453/JEPE.V5I4.1779","url":null,"abstract":"Abstract. The African continent for long has been an enigma for development economists, with several countries witnessing coexistence of rich natural resource base, pockets of underdevelopment and political instability. With the Sustainable Development Goals (SDGs) as a target, it is now imperative that the African countries, particularly the nations facing development challenges,need to contemplate and adopt a long-term action plan. However, the existing literature suggests that addressing the concerns of African countries requires both structural and regulatory reforms. Given the proliferation of regional trade agreements (RTAs) in the world today, along with deepening of de-globalizing forces, the practical concern for the African countries is to increasingly participate in Global Value Chains (GVCs) and International Production Networks (IPNs), enhance value-addition within the domestic economy, promote equality in opportunitiesand create employment for the growing young population therein. In a sense Africa is at a juncture, where Asia stood several decades back. The volume edited by Ahlers and Kohli, an attempt to analyze the reform and consequently the growth path in Africa, is therefore a timely contribution to the existing literature.. Keywords. Political economy, Economic thought, Politics, Economic system. JEL. B10, L66, Q18.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"8 7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133327607","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

Exchange rate fluctuations and the trade balance between China and Australia: An empirical study 汇率波动与中澳贸易平衡:一个实证研究

Journal of Economics and Political Economy Pub Date : 2018-12-30 DOI: 10.1453/JEPE.V5I4.1805

Sihong Wu

引用次数: 0

Does economic growth support the minimum wage? Evidences based in Turkey 经济增长是否支持最低工资标准?基于土耳其的证据

Journal of Economics and Political Economy Pub Date : 2018-12-30 DOI: 10.1453/jepe.v5i4.1816

Bilal Kargi

引用次数: 0

Analysis of factors make Turkish economy fragile by LOGIT and PROBIT models (1990.01-2018:05) 基于LOGIT和PROBIT模型的土耳其经济脆弱性因素分析(1990.01-2018:05)

Journal of Economics and Political Economy Pub Date : 2018-12-30 DOI: 10.1453/JEPE.V5I4.1799

Recep Tari, Figen Büyükakın, Seda Aydin

{"title":"Analysis of factors make Turkish economy fragile by LOGIT and PROBIT models (1990.01-2018:05)","authors":"Recep Tari, Figen Büyükakın, Seda Aydin","doi":"10.1453/JEPE.V5I4.1799","DOIUrl":"https://doi.org/10.1453/JEPE.V5I4.1799","url":null,"abstract":"Abstract. The globalization movements that started towards the end of the 20th century influenced many areas of the economy. As a result of the globalization, despite the persistence of the political borders, countries have established borderless relationships in the economic arena. On the other hand, along with globalization, financial crises have become more frequent in the world economy. In particular, the fact that the 2008 Global Crisis reached serious dimensions made it necessary to take measures to stabilize the markets and to evaluate the factors that would shake the market and make the market fragile. Financial fragility is a concept that is often concurrently used with the concepts of financial instability and financial crisis. Financial fragility is a hypothesis which was developed by Hyman Minsky and is different from both concepts and also is interactively affected by instability and crises. In this study, unlike other studies with reference to Minsky's financial fragility hypothesis, we aimed to identify the factors that make fragile the financial markets in Turkey. Logit and probit models were studied with the data of 1990:01-2018:05 period. With reference to the study results, the increase in ratios of the volume of bank loans and M2 occur reserves increases the possibility of future crises. Besides, it is found at the end of the study that a decrease in the composite leading indicators index and in M2 in the BIST 100 index will strengthen the probability of a crisis. Keywords. Financial fragility, Minsky hypothesis, Logit model, Probit model. JEL. G00, C12, B23.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123605655","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