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CRYPTOCURRENCY, PROFITABILITY, AND TWEETER: A MGARCH FRAMEWORK 加密货币、盈利能力和推特:一个大框架
IF 0.7
Global Economy Journal Pub Date : 2022-07-18 DOI: 10.1142/s2194565922500026
Jo-Hui Chen, Sabbor Hussain, Yun Cheng
{"title":"CRYPTOCURRENCY, PROFITABILITY, AND TWEETER: A MGARCH FRAMEWORK","authors":"Jo-Hui Chen, Sabbor Hussain, Yun Cheng","doi":"10.1142/s2194565922500026","DOIUrl":"https://doi.org/10.1142/s2194565922500026","url":null,"abstract":"This paper used two frames based on the Multivariate General Autoregressive Conditional Heteroscedasticity (MGARCH) model, namely the Dynamic Conditional Correlation (DCC) and the Baba, Engle, Kraft, and Kroner (BEKK) models. DCC parameters confirmed the significant results to assess the spillover effects for return volatilities of five cryptocurrencies (Bitcoin, Dogecoin, Ethereum, Monero, and Peercoin). It indicated that cryptocurrency market returns would be volatile, connected with the time-varying pattern. Most ARCH and GARCH effects were significant in estimating the three pairs of return-mining profitability, return-Tweet, and mining profitability-Tweet. For the cryptocurrency return and profitability pair, returns depended on future price returns and cross-volatility spillover and were greater than their own volatility spillover effect. Moreover, the BEKK diagonal model was found to be the best model for return-mining profitability. The research community can also gain valuable insights into cryptocurrency investment models, offering wider future areas of research.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81439813","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
SPILLOVER EFFECTS OF QUANTITATIVE EASING ON EXPORTS IN EMERGING MARKET ECONOMIES 量化宽松对新兴市场经济体出口的溢出效应
IF 0.7
Global Economy Journal Pub Date : 2022-06-30 DOI: 10.1142/s2194565922500038
HELENA GLEBOCKI KEEFE, SUJATA SAHA
{"title":"SPILLOVER EFFECTS OF QUANTITATIVE EASING ON EXPORTS IN EMERGING MARKET ECONOMIES","authors":"HELENA GLEBOCKI KEEFE, SUJATA SAHA","doi":"10.1142/s2194565922500038","DOIUrl":"https://doi.org/10.1142/s2194565922500038","url":null,"abstract":"<p>The impact of unconventional monetary policies adopted by advanced economies in the wake of the Global Financial Crisis has had far reaching implications for global economic conditions. Although several transmission channels of quantitative easing to financial market and exchange rate conditions have been identified, there is a lack of empirical investigation on the spillover effects to exports for emerging market economies. The research presented in this paper focuses on assessing the asymmetric transmission of unconventional monetary policy in the US on exports for fifteen emerging market economies. Employing the panel ARDL (Autoregressive Distributed Lag) model, we find that the increase in large-scale asset purchases in the US corresponds to a decline in exports in the emerging market economies. The effect on exports is more sizable in the Fragile Five than in the other 10 emerging markets. Finally, although monetary policy shocks from the US transmit to impact trade in emerging markets, the effect is asymmetric. Specifically, the tapering of the quantitative easing does not have a statistically significant effect on exports.</p>","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138537324","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
ON OPTIMIZATION OF MANUFACTURING OF PRODUCT TO OBTAIN MAXIMAL VALUE OF PROFIT TAKING INTO ACCOUNT CHANGING OF PRICES 考虑价格变化的产品优化制造以获取最大利润
IF 0.7
Global Economy Journal Pub Date : 2022-06-22 DOI: 10.1142/s2194565922500014
E. Pankratov
{"title":"ON OPTIMIZATION OF MANUFACTURING OF PRODUCT TO OBTAIN MAXIMAL VALUE OF PROFIT TAKING INTO ACCOUNT CHANGING OF PRICES","authors":"E. Pankratov","doi":"10.1142/s2194565922500014","DOIUrl":"https://doi.org/10.1142/s2194565922500014","url":null,"abstract":"In this paper, we introduce a model for the prognosis of profit of an enterprise taking into account several types of products. Also, we introduce an approach for maximization of the considered profit with an analytical approach for estimation of the maximum value of profit of an enterprise taking into account several types of products. Profit maximization gives a possibility to take into account changes in the price of products on the market. As an example, we consider the estimation of profit for the accounting of three types of products. But the introduced approach gives a possibility to change a number of products.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88546733","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
IS THE E-GOVERNMENT A DRIVER OF FINANCIALIZATION: EMPIRICAL EVIDENCE FROM EUROPEAN COUNTRIES 电子政府是金融化的驱动力:来自欧洲国家的经验证据
IF 0.7
Global Economy Journal Pub Date : 2022-04-06 DOI: 10.1142/s2194565921500172
Leavitt Ha, N. Huyen
{"title":"IS THE E-GOVERNMENT A DRIVER OF FINANCIALIZATION: EMPIRICAL EVIDENCE FROM EUROPEAN COUNTRIES","authors":"Leavitt Ha, N. Huyen","doi":"10.1142/s2194565921500172","DOIUrl":"https://doi.org/10.1142/s2194565921500172","url":null,"abstract":"This study is the first to empirically examine the linkage between e-Government and financial development. We utilize three indicators, including user centricity, business mobility, and key enablers to capture a digital process in the public sector, and their effects are analyzed on financial markets, institutions, and both. By employing an international sample of 26 European countries, we demonstrate the positive impacts of e-Government, especially the user centricity on the financialization. Furthermore, e-Government has the strongest influence on financial institutions.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76083041","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 SPILLOVER, RISK AND LEVERAGE EFFECTS OF SMART BETA MANAGEMENT EXCHANGE-TRADED FUND (ETF) 智能贝塔管理型交易所交易基金的溢出效应、风险效应和杠杆效应
IF 0.7
Global Economy Journal Pub Date : 2022-01-06 DOI: 10.1142/s2194565921500160
Jo-Hui Chen, Nicholas Edwards
{"title":"THE SPILLOVER, RISK AND LEVERAGE EFFECTS OF SMART BETA MANAGEMENT EXCHANGE-TRADED FUND (ETF)","authors":"Jo-Hui Chen, Nicholas Edwards","doi":"10.1142/s2194565921500160","DOIUrl":"https://doi.org/10.1142/s2194565921500160","url":null,"abstract":"This research uses two different GARCH models to measure spillover, risk, and leverage effects of active, passive, and smart beta management Exchange-traded Funds (ETFs). The increase in popularity of ETFs and new categories within them, specifically the growth of smart beta management, means asset managers and investors have new metrics to account for when determining portfolio exposure following the Adaptive Investment Approach (AIA). The results show significant relationships among all groups regarding the spillover. A trend of positive multi-lateral spillover of returns among the three management types including passive, active and small beta is observed with smart beta showing the highest percentage of a bi-lateral positive effect. The strongest spillover of volatility effects is among the actively managed ETFs. The testing of risk results is insignificant, but the leverage effect results are consistent with the past studies showing the significant negative bi-lateral effect.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89798772","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: 1
HOW THE EXCHANGE RATE REGIME AFFECTS ADJUSTMENT TO LARGE OIL PRICE SWINGS IN OIL EXPORTING COUNTRIES 汇率制度如何影响石油出口国对油价大幅波动的调整
IF 0.7
Global Economy Journal Pub Date : 2021-12-29 DOI: 10.1142/s2194565921500159
Majed S. Almozaini
{"title":"HOW THE EXCHANGE RATE REGIME AFFECTS ADJUSTMENT TO LARGE OIL PRICE SWINGS IN OIL EXPORTING COUNTRIES","authors":"Majed S. Almozaini","doi":"10.1142/s2194565921500159","DOIUrl":"https://doi.org/10.1142/s2194565921500159","url":null,"abstract":"The aim of this study is to analyze how oil price shocks affect the economic growth of floating exchange rate regimes and fixed exchange rate regimes in oil-exporting countries with a ratio of oil exports to total exports exceeding 70%. Also, this study seeks to determine what monetary and fiscal policies both regimes apply in order to curb business cycles and reduce inflationary and recessionary gaps. The analytical study uses panel data for the period from 1991 to 2019, covering 24 oil-exporting countries, from the World Economic Outlook (WEO) database and World Bank. The econometric model is estimated by applying a panel VECM to examine the short- and long-term interdependencies in the macroeconomic variables. The results demonstrate that when there is a negative shock to the oil price, the exchange rate of the floating exchange rate regimes depreciates, money supply increases, and government spending decreases. In contrast, the exchange rate of the fixed exchange rate regimes fluctuates slightly; the money supply slightly decreases in the near, medium, and long term; and government spending decreases.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91306387","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
GENDER, BOARD, AND WORKING CAPITAL 性别、董事会和营运资金
IF 0.7
Global Economy Journal Pub Date : 2021-12-24 DOI: 10.1142/s2194565921500147
Matthew Imes, Ofra Bazel-Shoham
{"title":"GENDER, BOARD, AND WORKING CAPITAL","authors":"Matthew Imes, Ofra Bazel-Shoham","doi":"10.1142/s2194565921500147","DOIUrl":"https://doi.org/10.1142/s2194565921500147","url":null,"abstract":"This paper examines the effects of gender board diversity on working capital. The study uses a sample of S&P1500 firms, resulting in 9,157 firm-year observations from 2005 to 2019. Our findings show that greater gender diversity on corporate boards is associated with lower liquidity ratios, including lower non-cash ones. The results are robust to a battery of gender board diversity definitions and to a 2SLS analysis which employs the gender ratio in the county’s population in which the firm is headquartered as an instrumental variable. Based on additional tests of the effects of gender board diversity on managerial efficiency ratios, we conclude that the results are driven by superior monitoring associated with gender diversity on the board.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86505406","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: 1
SUBSTITUTABILITY BETWEEN GOVERNMENT AND PRIVATE CONSUMPTION IN SUB-SAHARAN AFRICA 撒哈拉以南非洲政府和私人消费之间的可替代性
IF 0.7
Global Economy Journal Pub Date : 2021-11-05 DOI: 10.1142/s2194565921500123
Grace Nkansa Asante, Gideon Amankwah, Godwill BRUCE NYARKOH, Samuel Tawiah Baidoo
{"title":"SUBSTITUTABILITY BETWEEN GOVERNMENT AND PRIVATE CONSUMPTION IN SUB-SAHARAN AFRICA","authors":"Grace Nkansa Asante, Gideon Amankwah, Godwill BRUCE NYARKOH, Samuel Tawiah Baidoo","doi":"10.1142/s2194565921500123","DOIUrl":"https://doi.org/10.1142/s2194565921500123","url":null,"abstract":"The question of whether private and public consumption are complements or substitutes has been an issue of concern and hence, attracted the attention of researchers and policy think tanks. This study therefore investigates this important phenomenon within the context of sub-Saharan Africa (SSA) to inform the design of fiscal policy measures. Using panel data spanning the period 1981–2016 for 21 sub-Saharan African countries, the results indicate that, government and private consumption are substitutes. This indicates that government spending crowds out private consumption in the sub region. Vital policy implications have been provided for consideration based on the findings.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81503878","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
GLOBAL ECONOMIC SANCTIONS, GLOBAL BANK LINKAGES AND INFORMATION ASYMMETRY: AN EVIDENCE FROM CROSS-COUNTRY DATA 全球经济制裁、全球银行联系和信息不对称:来自跨国数据的证据
IF 0.7
Global Economy Journal Pub Date : 2021-10-25 DOI: 10.1142/s2194565921500111
Leavitt Ha, Hoang Phuong Dung, P. H. Chuong, To Trung Thanh
{"title":"GLOBAL ECONOMIC SANCTIONS, GLOBAL BANK LINKAGES AND INFORMATION ASYMMETRY: AN EVIDENCE FROM CROSS-COUNTRY DATA","authors":"Leavitt Ha, Hoang Phuong Dung, P. H. Chuong, To Trung Thanh","doi":"10.1142/s2194565921500111","DOIUrl":"https://doi.org/10.1142/s2194565921500111","url":null,"abstract":"This paper investigates the effects of global economic sanctions (GESs) on global bank linkages (GBLs) by using 4,032 pairs of 66 countries during the 2001–2013 period. We use the structural gravity model combining with the rich database of the Global Sanction Data Base introduced by Felbermayr et al. [(2020). The global sanctions data base. European Economic Review, 129, 1–23]. Our empirical results show a negative association between the GESs and GBLs. The differential effects of GESs on the GBLs are conditional on the sanction types. Furthermore, the consequences of global sanctions become more severe for countries featuring higher information asymmetries, captured either by a high level of world uncertainty, an occurrence of crisis and shocks or by a weak institutional system. Our results are robust and reliable when we use an alternative measure of bank connections, and in the context of controlling the potential endogeneity of global sanction.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91368618","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: 3
DIGITAL DEVELOPMENT AND ITS IMPACT ON REGIONS’ COMPETITIVENESS 数字发展及其对区域竞争力的影响
IF 0.7
Global Economy Journal Pub Date : 2021-10-07 DOI: 10.1142/s219456592150010x
S. Pyankova, M. Troyanskaya, Y. Tyurina
{"title":"DIGITAL DEVELOPMENT AND ITS IMPACT ON REGIONS’ COMPETITIVENESS","authors":"S. Pyankova, M. Troyanskaya, Y. Tyurina","doi":"10.1142/s219456592150010x","DOIUrl":"https://doi.org/10.1142/s219456592150010x","url":null,"abstract":"This study aimed to assess the impact of digital development on the competitiveness indicators of countries and regions. The research methodology was based on the analytic hierarchy process (AHP), a structured technique adapted to solve the nonlinear optimization problem by choosing the most suitable scenario for the public administration of regions’ digital development. The analysis of digital competitiveness across European countries revealed that its development is quite uneven. Within the European Union, both digitalization leaders and outsiders were noted. Modeling three digitalization scenarios for Russia, China, the United States and the countries of Europe allowed defining Scenario 3 (accelerated digitalization) as the best way for managing their development in the context of digital transformation. The significance of the conducted research lies in the fact that it distinguished the digital economy components affecting both digital and overall regions’ competitiveness. The results obtained can be taken advantage of by individuals engaged in the field of economic activity to determine the role of various organizations, strategic levers, and indicators that ensure an effective response to challenges of competition in the regional and global markets.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82398282","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
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