Murat Issabayev, H. Saydaliyev, Veysel Avsar, Lee Chin
{"title":"REMITTANCES, INSTITUTIONS AND FINANCIAL INCLUSION: NEW EVIDENCE OF NON-LINEARITY","authors":"Murat Issabayev, H. Saydaliyev, Veysel Avsar, Lee Chin","doi":"10.1142/s2194565920500025","DOIUrl":"https://doi.org/10.1142/s2194565920500025","url":null,"abstract":"This paper investigates the effect of remittance inflows on financial inclusion. Using data from high remittance-receiving developing countries and applying dynamic panel data methods, we find that remittance inflow has a negative impact on financial inclusion for countries with low level of remittances. However, this relationship is positive for countries with high level of remittances. Our study found that there exists a nonlinear relationship between remittances and financial inclusion. We also show that the effect of remittances on the financial inclusion is conditional upon people’s perception about institutions.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"10 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80764813","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}
{"title":"THE SPILLOVER AND LEVERAGE EFFECTS OF EQUITY EXCHANGE-TRADED NOTES (ETNS)","authors":"Jo-Hui Chen, J. Diaz","doi":"10.1142/s2194565919500131","DOIUrl":"https://doi.org/10.1142/s2194565919500131","url":null,"abstract":"This research utilizes the Autoregressive Moving Average–General Autoregressive Conditional Heteroskedasticity (ARMA–GARCH) and Autoregressive Moving Average–Exponential General Autoregressive Conditional Heteroskedasticity (ARMA–EGARCH) in studying the spillover and leverage effects of returns and volatilities of seven equity exchange-traded notes (ETNs) and their tracked stock indices. This study finds positive returns transmissions between the two investment instruments. Unilateral influence and bilateral relationships also exist that may help investors in finding investment clues to approximate possible movements of ETNs about stock indices and vice versa. This paper also observes negative returns and volatility transmissions that may caution traders in the possible reversal of movement of the other instrument. Disinvestments, transfer of allocation, and inverse investing strategies are some of the possible reasons attributable to this negative relation.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"77 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80287934","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}
{"title":"RETURN AND VOLATILITY SPILLOVER EFFECTS IN LEADING CRYPTOCURRENCIES","authors":"Srinivasan Palamalai, Bipasha Maity","doi":"10.1142/s2194565919500179","DOIUrl":"https://doi.org/10.1142/s2194565919500179","url":null,"abstract":"As Cryptocurrencies are emerging as a new class of investment assets, understanding their price and volatility dynamics has begun to gather momentum, especially the volatility can influence investment decisions. Most of previous literature concentrates primarily on several aspects of Bitcoin and endeavoring to generalize them for the whole cryptocurrency markets. In this study, we attempted to examine the return and volatility spillover effects across a wide range of cryptocurrency markets, i.e. eight major cryptocurrencies (determined by market capitalization) using a Vector Error Correction approach and Diagonal BEKK Multivariate GARCH model. We found the evidence of interdependencies and volatility co-movements among the various pairs of cryptocurrency markets. However, the study suggests that there exists a limited window of opportunity for the short-term portfolio diversification benefits from the selected large-cap cryptocurrency markets.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"47 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80957357","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}
{"title":"THE MARKET FOR CRYPTOCURRENCY: HOW WILL IT EVOLVE?","authors":"B. Allen, S. K. Bryant","doi":"10.1142/s2194565919500192","DOIUrl":"https://doi.org/10.1142/s2194565919500192","url":null,"abstract":"This study examines the concept of cryptocurrency and gives a brief history and overview of its characteristics. In an increasingly electronic society, cryptocurrency could be the next step in the evolution of finance in the same way that the internet was a step in the evolution of communication. In the coming years, countries may even announce the release of national cryptocurrencies, although certain conditions must be met for these efforts to be successful. Although the market is still in the early stages, as it begins to mature, cryptocurrency may become more prominent, until it becomes the new status quo.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"57 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90348358","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}
{"title":"GLOBALIZATION AND TERRORISM IN EAST EUROPE AND THE SUCCESSOR STATES OF THE SOVIET UNION","authors":"Brenda J. Lutz, J. Lutz","doi":"10.1142/s2194565919500143","DOIUrl":"https://doi.org/10.1142/s2194565919500143","url":null,"abstract":"Globalization has often been suggested as a phenomenon that leads to terrorism due to the disruptions it causes. In the case of the former centrally planned economies of East Europe and Eurasia, however, greater levels of globalization have led to less terrorist incidents and casualties rather than more. Further, the terrorist attacks that did occur did not deter foreign direct investment in the region.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"96 6","pages":""},"PeriodicalIF":0.7,"publicationDate":"2019-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72615058","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}
{"title":"A NEW PROCEDURE FOR TESTING THE EXPORT-LED GROWTH HYPOTHESIS: A RESEARCH NOTE","authors":"F. Furuoka","doi":"10.1142/s2194565919500167","DOIUrl":"https://doi.org/10.1142/s2194565919500167","url":null,"abstract":"This study proposes a novel statistical procedure to test the export-led growth hypothesis. The procedure integrates a Fisher-type causality method in the statistical analysis. In order to demonstrate the application of this procedure, this study examined the exports–growth nexus in low-income and lower middle-income countries in Africa. The findings obtained from the newly-proposed integrated statistical procedure were more conclusive compared to the results obtained from the individual causality tests; the findings also highlighted a complex nature of the exports–growth nexus in Africa.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"9 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84303216","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}
{"title":"THE PRICE OF COCAINE AND THE COLOMBIAN PESO: AN EMPIRICAL INVESTIGATION","authors":"Alexi Thompson, Yaya Sissoko","doi":"10.1142/s2194565919500155","DOIUrl":"https://doi.org/10.1142/s2194565919500155","url":null,"abstract":"While the underground economy is not explicitly included in the measure of (GDP), the cocaine trade has been a major source of revenue for Colombia. Using quarterly cocaine prices from 1982 to 2007 published by the Office of National Drug Control Policy, this paper uses vector error correction and forecast error variance decomposition methods to look at the relationship between cocaine prices and the peso/$ nominal exchange rate. Our results indicate cocaine prices affect the value of the Colombian peso, which leads to some interesting policy implications.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"7 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74440653","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}
{"title":"PROGNOSIS OF REPLACEMENT OF LINE OF OLD INNOVATIVE PRODUCTS BY LINE OF NEW INNOVATIVE PRODUCTS","authors":"E. Pankratov","doi":"10.1142/s2194565919500222","DOIUrl":"https://doi.org/10.1142/s2194565919500222","url":null,"abstract":"In this paper, the prognosis and analysis of the process of replacement of old line of innovative products by new line of innovative products with account of the capacity of the market, the possibl...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"12 1","pages":"1950022"},"PeriodicalIF":0.7,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73217383","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}
{"title":"CONTAGION AMONG SELECT GLOBAL EQUITY MARKETS: A TIME-FREQUENCY ANALYSIS","authors":"Avishek Bhandari, B. Kamaiah","doi":"10.1142/s2194565919500234","DOIUrl":"https://doi.org/10.1142/s2194565919500234","url":null,"abstract":"This paper investigates the phenomenon of contagion among some selected global equity markets using novel methods from wavelet-based time-frequency analysis. It surveys some seminal literature on c...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"1 1","pages":"1950023"},"PeriodicalIF":0.7,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76948187","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}
{"title":"INVESTMENT ABROAD AND IMPACT AT HOME: A LITERATURE REVIEW","authors":"V. Sarin, Suresh Kumar","doi":"10.1142/s2194565919300011","DOIUrl":"https://doi.org/10.1142/s2194565919300011","url":null,"abstract":"Recently, there has been a significant rise in the volume and significance of FDI flows. The foreign direct investment (FDI), which is undertaken by multinational corporations, affects not only the...","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"118 1","pages":"1930001"},"PeriodicalIF":0.7,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81457266","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}