{"title":"Do fluctuations in global crude oil prices have an asymmetric effect on oil product pricing in India?","authors":"Abdhut Deheri, Stefy Carmel","doi":"10.1007/s10644-024-09599-9","DOIUrl":"https://doi.org/10.1007/s10644-024-09599-9","url":null,"abstract":"<p>This study aims to examine the existence of asymmetry and nonlinearity in the influence of global crude oil price shocks on the pricing of oil products in India during the period spanning from April 2000 to March 2022. Novel symmetry and linearity tests, notably slope and impulse response tests, were used for this purpose. The findings of the slope test indicate the absence of nonlinearity in the reaction of most oil product prices to global crude oil price shocks. In contrast, the results obtained from the impulse response test indicate that except for liquid petroleum gas, all oil product prices exhibit asymmetric responses to both positive and negative crude oil shocks of varying magnitudes. The results align with previous research on the transmission of crude oil prices to oil product prices. Furthermore, these findings confirm the existence of the rockets-and-feathers phenomenon within the Indian oil product market. From a policy perspective, the findings indicate that it would be prudent for the government to contemplate the implementation of tax reductions on oil products. This approach would aid in ensuring a symmetric response of oil product pricing to global changes in crude oil prices and is projected to decrease the welfare loss incurred by consumers as a result of asymmetry.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"64 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139757739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Musa Abdullahi Sakanko, Joseph David, Nurudeen Abu, Awadh Ahmed Mohammed Gamal
{"title":"Financial inclusion and underground economy nexus in West Africa: evidence from dynamic heterogeneous panel techniques","authors":"Musa Abdullahi Sakanko, Joseph David, Nurudeen Abu, Awadh Ahmed Mohammed Gamal","doi":"10.1007/s10644-024-09589-x","DOIUrl":"https://doi.org/10.1007/s10644-024-09589-x","url":null,"abstract":"<p>We employ dynamic heterogeneous panel estimation techniques which include Dynamic Fixed Effects, Mean Group, and Pooled Mean Group estimators to explore the underground economy (UE) and financial inclusion (FI) relation for ten West African nations during the 2004–2021 period. Applying Pedroni cointegration test, the results present evidence of a long-term relation between UE and FI (alongside corruption, inflation rate, money supply, agricultural output, and trade). The results of panel estimation portray a long-term significant positive influence of FI on UE, but a short-term significant negative relation between FI and UE. In addition, corruption, money supply, and international trade have a long-term significant negative influence on UE, while inflation supports long-term expansion of UE. Also, a short-term significant negative relation exists between inflation (and trade) and UE, while a short-term significant positive relation is found between money supply and UE. The results of Dumitrescu–Hurlin causality test signal a one-way causality from FI to UE. Therefore, policies geared toward enhancing FI, reducing corruption and money supply, and improving international trade are recommended to reduce UE.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"24 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139677822","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Towards high-quality energy development: role of trade liberalization","authors":"Xueyang Wang, Xiumei Sun, Mahmood Ahmad, Jiawei Chen","doi":"10.1007/s10644-024-09604-1","DOIUrl":"https://doi.org/10.1007/s10644-024-09604-1","url":null,"abstract":"<p>This paper aims to develop a high-quality energy development (HQED) index. To achieve this aim, the SYS-GMM method is applied to investigate the impact of trade liberalization (TL) on HQED in the region, and to analyze its mechanisms. The empirical results are as follows. Firstly, TL has a significant positive effect on HQED in the region, with a 1% increase in the degree of TL leading to an improvement of HQED by 0.0927%. Secondly, external mechanism test reveals that TL promotes regional HQED by raising energy prices and improving the structure of energy consumption. Internal mechanism test shows that TL is effective in enhancing the availability, cleanliness, and affordability of energy. Lastly, the influence of TL on HQED varies due to various factors such as energy endowment and resource allocation, exhibiting an inverted U-shaped relationship at different levels. Based on these findings, recommendations are made to promote TL and improve HQED.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"334 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139589596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The effects of agricultural product exports on agricultural environmental pollution: evidence from OECD countries and China","authors":"Zhen Liu, Renjie Cai, Ruotong Li, Jing Lan","doi":"10.1007/s10644-023-09563-z","DOIUrl":"https://doi.org/10.1007/s10644-023-09563-z","url":null,"abstract":"","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"101 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139236483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Digital economy and consumption upgrading: scale effect or structure effect?","authors":"Dong Guo, Lin Li, Lu Qiao, Fengyu Qi","doi":"10.1007/s10644-023-09571-z","DOIUrl":"https://doi.org/10.1007/s10644-023-09571-z","url":null,"abstract":"","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"68 1","pages":"4713-4744"},"PeriodicalIF":3.1,"publicationDate":"2023-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139254552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hui Wang, Muhammad Wasif Zafar, Shujaat Abbas, Mehmet Akif Destek
{"title":"An assessment of energy poverty in sub-Saharan Africa: the role of financial inclusion and education","authors":"Hui Wang, Muhammad Wasif Zafar, Shujaat Abbas, Mehmet Akif Destek","doi":"10.1007/s10644-023-09568-8","DOIUrl":"https://doi.org/10.1007/s10644-023-09568-8","url":null,"abstract":"","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"10 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136282713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do geopolitical risks from the economic powers dominate world gold return? Evidence from the quantile connectedness approach","authors":"Duc Hong Vo, Minh Phuoc-Bao Tran","doi":"10.1007/s10644-023-09572-y","DOIUrl":"https://doi.org/10.1007/s10644-023-09572-y","url":null,"abstract":"","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"119 32","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135137213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Cesar Tamayo, Jose Gomez-Gonzalez, Oscar M. Valencia
{"title":"Bank market power and firm finance: evidence from bank and loan-level data","authors":"Cesar Tamayo, Jose Gomez-Gonzalez, Oscar M. Valencia","doi":"10.1007/s10644-023-09570-0","DOIUrl":"https://doi.org/10.1007/s10644-023-09570-0","url":null,"abstract":"","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"39 8","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135431081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}