Eurasian Economic Review最新文献

The response of oil-importing and oil-exporting countries’ macroeconomic aggregates to crude oil price shocks: some international evidence 石油进口国和石油出口国的宏观经济总量对原油价格冲击的反应：一些国际证据

IF 3.4

Eurasian Economic Review Pub Date : 2024-09-13 DOI: 10.1007/s40822-024-00281-z

Jin Shang, Shigeyuki Hamori

{"title":"The response of oil-importing and oil-exporting countries’ macroeconomic aggregates to crude oil price shocks: some international evidence","authors":"Jin Shang, Shigeyuki Hamori","doi":"10.1007/s40822-024-00281-z","DOIUrl":"https://doi.org/10.1007/s40822-024-00281-z","url":null,"abstract":"Fluctuations in crude oil prices exert substantial economic influence, necessitating adept responses and strategic policy formulations to mitigate potential adverse consequences. Kilian has emphasized the heterogeneous nature of oil price shocks, wherein price rises can yield varied effects contingent upon underlying determinants. Consequently, it is imperative for investors, economists, and policymakers to disentangle real price shocks and assess their impact on macroeconomic aggregates. This study employs a two-stage approach grounded in a structural vector autoregressive (SVAR) model, inspired by Kilian’s framework, to examine and contrast the repercussions of various crude oil price shocks on the actual Gross Domestic Product (GDP) and Consumer Price Index (CPI) in countries that are either net importers or exporters of oil. Our empirical results reveal that variations in real oil prices are more substantially influenced by shocks due to aggregate demand and precautionary demand, as opposed to shocks originating from the oil supply side. Additionally, aggregate demand shocks lead to significant GDP surges for most oil-importing countries and all oil-exporting countries, while only leading to continuous CPI increases in oil-importing countries. Precautionary demand shocks initially boost GDP in oil-exporting countries but lead to GDP reductions in oil-importing countries. Precautionary demand shocks sustain CPI increases in the oil-importing countries, though with variations in significant durations, but have mixed effects in oil-exporting countries, with significant CPI increases observed in Canada and Norway. Concerning the implications for policymakers and investors, the findings underscore the importance of considering variations in response patterns to crude oil price shocks based on their drivers and the country’s status as an oil importer or exporter.","PeriodicalId":45064,"journal":{"name":"Eurasian Economic Review","volume":"11 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142181252","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

Non-parametric evidence on the determinants of access to financial services in the countries of the Organization of Turkic States 关于突厥语国家组织成员国获得金融服务的决定因素的非参数证据

IF 3.4

Eurasian Economic Review Pub Date : 2024-09-05 DOI: 10.1007/s40822-024-00288-6

Kenan İlarslan

引用次数: 0

Firm-specific attributes and capital gains overhang 公司特有属性和资本收益悬置

IF 3.4

Eurasian Economic Review Pub Date : 2024-08-28 DOI: 10.1007/s40822-024-00285-9

Mohamad Husam Helmi, Mohamed Shaker Ahmed

引用次数: 0

Balancing financial stability and economic growth: a comprehensive analysis of macroprudential regulation 平衡金融稳定与经济增长：宏观审慎监管的全面分析

IF 3.4

Eurasian Economic Review Pub Date : 2024-07-23 DOI: 10.1007/s40822-024-00283-x

Salma Gallas, Houssam Bouzgarrou, Montassar Zayati

引用次数: 0

Sustainability and the domestic credit market: worldwide evidence 可持续性与国内信贷市场：全球证据

IF 3.4

Eurasian Economic Review Pub Date : 2024-06-28 DOI: 10.1007/s40822-024-00282-y

Fátima Sol Murta, Paulo Miguel Gama

{"title":"Sustainability and the domestic credit market: worldwide evidence","authors":"Fátima Sol Murta, Paulo Miguel Gama","doi":"10.1007/s40822-024-00282-y","DOIUrl":"https://doi.org/10.1007/s40822-024-00282-y","url":null,"abstract":"This paper aims to uncover the cross-sectional relationship between country-level sustainability performance and the domestic lending activity of commercial banks. Considering a worldwide sample of countries, it uses publicly available sustainability scores from SolAlability Sustainable Intelligence, macroeconomic data, and banking sector data from the World Bank. The results show that the country’s sustainability performance is positively related to the amount of domestic credit granted by banks to the private sector and negatively related to the importance of nonperforming loans. Moreover, looking at the pillars that constitute the sustainability scores, this work finds evidence that social cohesion, intellectual capital, and governance are the pillars of sustainability that affect domestic lending activity. Results survive several robustness tests concerning samples, variables’ definitions, and estimation procedures. Our results suggest that policies aiming at improving a country’s sustainability contribute to domestic banking sector stability and financial development. Specifically, measures that contribute to social cohesion and solidarity, innovation and value-added industries, and the country’s governance performance, contribute to the smooth functioning of credit markets.","PeriodicalId":45064,"journal":{"name":"Eurasian Economic Review","volume":"48 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141503373","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

Interest rate uncertainty and the shape of the yield curve of U.S. treasury bonds 利率的不确定性和美国国债收益率曲线的形状

IF 3.4

Eurasian Economic Review Pub Date : 2024-06-25 DOI: 10.1007/s40822-024-00278-8

Yasmeen Bayaa, Mahmoud Qadan

引用次数: 0

Dynamic connectedness between energy and agricultural commodities: insights from the COVID-19 pandemic and Russia–Ukraine conflict 能源与农产品之间的动态联系：从 COVID-19 大流行病和俄罗斯-乌克兰冲突中得到的启示

IF 3.4

Eurasian Economic Review Pub Date : 2024-06-03 DOI: 10.1007/s40822-024-00279-7

Noureddine Benlagha, Wafa Abdelmalek

引用次数: 0

The impact of COVID-19 on Ethereum returns and Ethereum market efficiency COVID-19 对以太坊回报和以太坊市场效率的影响

IF 3.4

Eurasian Economic Review Pub Date : 2024-05-31 DOI: 10.1007/s40822-024-00273-z

Naseem Al Rahahleh, Ahmed Al Qurashi

{"title":"The impact of COVID-19 on Ethereum returns and Ethereum market efficiency","authors":"Naseem Al Rahahleh, Ahmed Al Qurashi","doi":"10.1007/s40822-024-00273-z","DOIUrl":"https://doi.org/10.1007/s40822-024-00273-z","url":null,"abstract":"This paper aims to identify herding biases and assess the inefficiency of Ethereum using an inefficiency index (MLM). Additionally, it investigates the nonlinear dynamical properties of Ethereum by estimating the MFDFA, aiming to deduce the impact of COVID-19 on Ethereum’s performance. The paper also captures abnormal changes resulting from COVID-19-related events and assesses their influence on the Ethereum market response.The empirical results show that Ethereum was multifractal before the pandemic and became less fractal in the period following the outbreak using Generalized Hurst Exponent (GHE) estimation. Based on the MLM measure of efficiency, we found Ethereum to be more efficient in the first phase of the pandemic than before it, and as in the Hausdorff topology, the pandemic reduced herd bias. The event study analysis took into account specific events related to the pandemic and showed that each led to significant abnormal returns in the Ethereum market. The results reported are used to empirically establish differences in the value of Ethereum before and during the COVID-19 pandemic. The results are useful in a general sense for traders, investors, and policy makers because they provide new information about market trading opportunities and social responses.","PeriodicalId":45064,"journal":{"name":"Eurasian Economic Review","volume":"36 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141196489","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 computational model of the effects of borrower default on the stability of P2P lending platforms 借款人违约对 P2P 网络借贷平台稳定性影响的计算模型

IF 3.4

Eurasian Economic Review Pub Date : 2024-05-09 DOI: 10.1007/s40822-024-00280-0

Evangelos Katsamakas, J. Manuel Sanchez-Cartas

{"title":"A computational model of the effects of borrower default on the stability of P2P lending platforms","authors":"Evangelos Katsamakas, J. Manuel Sanchez-Cartas","doi":"10.1007/s40822-024-00280-0","DOIUrl":"https://doi.org/10.1007/s40822-024-00280-0","url":null,"abstract":"Peer-to-peer (P2P) lending has attracted scholarly attention because of its economic significance and potential to democratize access to finance. However, P2P lending platforms face many challenges and failures that we need to understand more clearly. We build a computational model to study how borrower default affects P2P platform lending. We show that borrower default disrupts the P2P network formation process and undermines platform stability. Moreover, we find that defaults increase the inequality in accessing funding and provide a rationale for using curation rules, widely used in P2P platforms, in contrast to P2P insurance, which fosters cascading defaults. We also address a new trend in P2P lending platforms in which large companies (institutional investors) play an increasingly important role. We find that the presence of large companies creates a denser network (more loans) but generates a trade-off between making the platform more resilient to cascading defaults and more dependent on specific players. Overall, we explain how borrower defaults affect platform stability and what makes a platform vulnerable, threatening its survival. We discuss research and managerial insights into platform stability and the economic effect of P2P lending platforms.","PeriodicalId":45064,"journal":{"name":"Eurasian Economic Review","volume":"157 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140933828","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

Economic policy uncertainty and cryptocurrencies 经济政策的不确定性与加密货币

IF 3.4

Eurasian Economic Review Pub Date : 2024-05-02 DOI: 10.1007/s40822-024-00271-1

Chiara Oldani, Giovanni S. F. Bruno, Marcello Signorelli

引用次数: 0