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1 – 2 of 2This paper investigates the relationship between domestic gold prices and inflation in Vietnam based on the monthly series of the gold price index and consumer price index over…
Abstract
Purpose
This paper investigates the relationship between domestic gold prices and inflation in Vietnam based on the monthly series of the gold price index and consumer price index over the period of December 2001–July 2020.
Design/methodology/approach
The co-integration between the domestic gold price and inflation is examined within the autoregressive distributed lag-error correction (ARDL bounds testing) framework. This paper also applies the vector error correction model (VECM) and impulse response function analysis to explore the causal relationship between these two variables. Moreover, since both gold and inflation series are likely to have structural changes over time, a unit root test controlling for significant breaks is employed in this paper.
Findings
Findings from the ARDL bounds testing model suggest the presence of a co-integration between the underlying variables. The VECM indicates that shocks in inflation lead to a negative response to gold prices in the long run. In the short term, only fluctuations in gold prices impact inflation, and this causality is unidirectional.
Research limitations/implications
Gold is regarded as a critical financial asset to preserve wealth from inflation pressure in the case of Vietnam. These findings propose implications for both investors and policymakers.
Originality/value
Empirical results suggest that inflation has a long-term impact on gold prices in the Vietnamese market. In the existence of a permanent inflationary shock, domestic prices of gold respond negatively to this shock; hence, gold can act as a good hedge against inflation in Vietnam.
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In recent years, several studies on self-legitimacy of police officers were conducted; however, few have tested the unstable nature of legitimacy in different time periods. This…
Abstract
Purpose
In recent years, several studies on self-legitimacy of police officers were conducted; however, few have tested the unstable nature of legitimacy in different time periods. This paper aims to focus on the self-legitimacy of police officers and its impact on pro-organizational behavior in 2013 and 2016.
Design/methodology/approach
The study took place in eight regional police directorates in Slovenia. The number of participants amounted to 529 police officers in 2013 and 478 police officers in 2016 that have completed a paper and pencil survey that was pretested using a convenience sample of police officers studying as part-time undergraduate students.
Findings
Overall findings revealed organizational commitment as the strongest predictor of self-legitimacy of police officers in Slovenia. The invariance of the “core variables” and their influence on the self-legitimacy of police officers in different time periods was confirmed. Their perception of individual legitimacy, organizational commitment, education and years of service influenced pro-organizational behaviors of police officers.
Research limitations/implications
Limitations of the study can be seen in the sincerity of participating police officers and the nature of self-legitimacy, which operates differently in different societies.
Practical implications
The results could be used for the improvement of policing in a young democratic country.
Social implications
Legitimacy, procedural justice and other components of policing in a democratic society need to be tested globally, especially in young democracies. This study is an example of an ongoing, follow-up endeavor of researchers and the national police to reflect upon the development of policing.
Originality/value
The paper has confirmed the invariance of relations with colleagues, supervisors' procedural justice and audience legitimacy on the self-legitimacy in different time periods and societies.
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