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1 – 10 of 272
Open Access
Article
Publication date: 31 January 2024

Juan Gabriel Brida, Emiliano Alvarez, Gaston Cayssials and Matias Mednik

Our paper studies a central issue with a long history in economics: the relationship between population and economic growth. We analyze the joint dynamics of economic and…

Abstract

Purpose

Our paper studies a central issue with a long history in economics: the relationship between population and economic growth. We analyze the joint dynamics of economic and demographic growth in 111 countries during the period 1960–2019.

Design/methodology/approach

Using the concept of economic regime, the paper introduces the notion of distance between the dynamical paths of different countries. Then, a minimal spanning tree (MST) and a hierarchical tree (HT) are constructed to detect groups of countries sharing similar dynamic performance.

Findings

The methodology confirms the existence of three country clubs, each of which exhibits a different dynamic behavior pattern. The analysis also shows that the clusters clearly differ with respect to the evolution of other fundamental variables not previously considered [gross domestic product (GDP) per capita, human capital and life expectancy, among others].

Practical implications

Our results indirectly suggest the existence of dynamic interdependence in the trajectories of economic growth and population change between countries. It also provides evidence against single-model approaches to explain the interdependence between demographic change and economic growth.

Originality/value

We introduce a methodology that allows for a model-free topological and hierarchical description of the interplay between economic growth and population.

Details

Review of Economics and Political Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2356-9980

Keywords

Article
Publication date: 21 February 2024

Shuifeng Hong, Yimin Luo, Mengya Li and Duoping Yang

This paper aims to empirically investigate time–frequency linkages between Euramerican mature and Asian emerging crude oil futures markets in terms of correlation and risk…

Abstract

Purpose

This paper aims to empirically investigate time–frequency linkages between Euramerican mature and Asian emerging crude oil futures markets in terms of correlation and risk spillovers.

Design/methodology/approach

With daily data, the authors first undertake the MODWT method to decompose yield series into four different timescales, and then use the R-Vine Copula-CoVaR to analyze correlation and risk spillovers between Euramerican mature and Asian emerging crude oil futures markets.

Findings

The empirical results are as follows: (a) short-term trading is the primary driver of price volatility in crude oil futures markets. (b) The crude oil futures markets exhibit certain regional aggregation characteristics, with the Indian crude oil futures market playing an important role in connecting Euramerican mature and Asian emerging crude oil futures markets. What’s more, Oman crude oil serves as a bridge to link Asian emerging crude oil futures markets. (c) There are significant tail correlations among different futures markets, making them susceptible to “same fall but different rise” scenarios. The volatility behavior of the Indian and Euramerican markets is highly correlated in extreme incidents. (d) Those markets exhibit asymmetric bidirectional risk spillovers. Specifically, the Euramerican mature crude oil futures markets demonstrate significant risk spillovers in the extreme short term, with a relatively larger spillover effect observed on the Indian crude oil futures market. Compared with India and Japan in Asian emerging crude oil futures markets, China's crude oil futures market places more emphasis on changes in market fundamentals and prefers to hold long-term positions rather than short-term technical factors.

Originality/value

The MODWT model is utilized to capture the multiscale coordinated motion characteristics of the data in the time–frequency perspective. What’s more, compared to traditional methods, the R-Vine Copula model exhibits greater flexibility and higher measurement accuracy, enabling it to more accurately capture correlation structures among multiple markets. The proposed methodology can provide evidence for whether crude oil futures markets exhibit integration characteristics and can deepen our understanding of connections among crude oil futures prices.

Details

The Journal of Risk Finance, vol. 25 no. 2
Type: Research Article
ISSN: 1526-5943

Keywords

Open Access
Article
Publication date: 20 November 2023

Devesh Singh

This study aims to examine foreign direct investment (FDI) factors and develops a rational framework for FDI inflow in Western European countries such as France, Germany, the…

Abstract

Purpose

This study aims to examine foreign direct investment (FDI) factors and develops a rational framework for FDI inflow in Western European countries such as France, Germany, the Netherlands, Switzerland, Belgium and Austria.

Design/methodology/approach

Data for this study were collected from the World development indicators (WDI) database from 1995 to 2018. Factors such as economic growth, pollution, trade, domestic capital investment, gross value-added and the financial stability of the country that influence FDI decisions were selected through empirical literature. A framework was developed using interpretable machine learning (IML), decision trees and three-stage least squares simultaneous equation methods for FDI inflow in Western Europe.

Findings

The findings of this study show that there is a difference between the most important and trusted factors for FDI inflow. Additionally, this study shows that machine learning (ML) models can perform better than conventional linear regression models.

Research limitations/implications

This research has several limitations. Ideally, classification accuracies should be higher, and the current scope of this research is limited to examining the performance of FDI determinants within Western Europe.

Practical implications

Through this framework, the national government can understand how investors make their capital allocation decisions in their country. The framework developed in this study can help policymakers better understand the rationality of FDI inflows.

Originality/value

An IML framework has not been developed in prior studies to analyze FDI inflows. Additionally, the author demonstrates the applicability of the IML framework for estimating FDI inflows in Western Europe.

Details

Journal of Economics, Finance and Administrative Science, vol. 29 no. 57
Type: Research Article
ISSN: 2077-1886

Keywords

Article
Publication date: 6 November 2023

Fatma Hariz, Taicir Mezghani and Mouna Boujelbène Abbes

This paper aims to analyze the dependence structure between the Green Sukuk Spread in Malaysia and uncertainty factors from January 1, 2017, to May 23, 2023, covering two main…

Abstract

Purpose

This paper aims to analyze the dependence structure between the Green Sukuk Spread in Malaysia and uncertainty factors from January 1, 2017, to May 23, 2023, covering two main periods: the pre-COVID-19 and the COVID-19 periods.

Design/methodology/approach

This study contributes to the current literature by explicitly modeling nonlinear dependencies using the Regular vine copula approach to capture asymmetric characteristics of the tail dependence distribution. This study used the Archimedean copula models: Student’s-t, Gumbel, Gaussian, Clayton, Frank and Joe, which exhibit different tail dependence structures.

Findings

The empirical results suggest that Green Sukuk and various uncertainty variables have the strongest co-dependency before and during the COVID-19 crisis. Due to external uncertainties (COVID-19), the results reveal that global factors, such as the Infect-EMV-index and the higher financial stress index, significantly affect the spread of Green Sukuk. Interestingly, in times of COVID-19, its dependence on Green Sukuk and the news sentiment seems to be a symmetric tail dependence with a Student’s-t copula. This result is relevant for hedging strategies, as investors can enhance the performance of their portfolio during the COVID-19 crash period.

Originality/value

This study contributes to a better understanding of the dependency structure between Green Sukuk and uncertainty factors. It is relevant for market participants seeking to improve their risk management for Green Sukuk.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 19 December 2022

Xiaojie Xu and Yun Zhang

Understandings of house prices and their interrelationships have undoubtedly drawn a great amount of attention from various market participants. This study aims to investigate the…

Abstract

Purpose

Understandings of house prices and their interrelationships have undoubtedly drawn a great amount of attention from various market participants. This study aims to investigate the monthly newly-built residential house price indices of seventy Chinese cities during a 10-year period spanning January 2011–December 2020 for understandings of issues related to their interdependence and synchronizations.

Design/methodology/approach

Analysis here is facilitated through network analysis together with topological and hierarchical characterizations of price comovements.

Findings

This study determines eight sectoral groups of cities whose house price indices are directly connected and the price synchronization within each group is higher than that at the national level, although each shows rather idiosyncratic patterns. Degrees of house price comovements are generally lower starting from 2018 at the national level and for the eight sectoral groups. Similarly, this study finds that the synchronization intensity associated with the house price index of each city generally switches to a lower level starting from early 2019.

Originality/value

Results here should be of use to policy design and analysis aiming at housing market evaluations and monitoring.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 19 July 2023

Gaurav Kumar, Molla Ramizur Rahman, Abhinav Rajverma and Arun Kumar Misra

This study aims to analyse the systemic risk emitted by all publicly listed commercial banks in a key emerging economy, India.

Abstract

Purpose

This study aims to analyse the systemic risk emitted by all publicly listed commercial banks in a key emerging economy, India.

Design/methodology/approach

The study makes use of the Tobias and Brunnermeier (2016) estimator to quantify the systemic risk (ΔCoVaR) that banks contribute to the system. The methodology addresses a classification problem based on the probability that a particular bank will emit high systemic risk or moderate systemic risk. The study applies machine learning models such as logistic regression, random forest (RF), neural networks and gradient boosting machine (GBM) and addresses the issue of imbalanced data sets to investigate bank’s balance sheet features and bank’s stock features which may potentially determine the factors of systemic risk emission.

Findings

The study reports that across various performance matrices, the authors find that two specifications are preferred: RF and GBM. The study identifies lag of the estimator of systemic risk, stock beta, stock volatility and return on equity as important features to explain emission of systemic risk.

Practical implications

The findings will help banks and regulators with the key features that can be used to formulate the policy decisions.

Originality/value

This study contributes to the existing literature by suggesting classification algorithms that can be used to model the probability of systemic risk emission in a classification problem setting. Further, the study identifies the features responsible for the likelihood of systemic risk.

Details

Journal of Modelling in Management, vol. 19 no. 2
Type: Research Article
ISSN: 1746-5664

Keywords

Article
Publication date: 12 March 2024

Elena Isabel Vazquez Melendez, Paul Bergey and Brett Smith

This study aims to examine the blockchain landscape in supply chain management by drawing insights from academic and industry literature. It identifies the key drivers…

361

Abstract

Purpose

This study aims to examine the blockchain landscape in supply chain management by drawing insights from academic and industry literature. It identifies the key drivers, categorizes the products involved and highlights the business values achieved by early adopters of blockchain technology within the supply chain domain. Additionally, it explores fingerprinting techniques to establish a robust connection between physical products and the blockchain ledger.

Design/methodology/approach

The authors combined the interpretive sensemaking systematic literature review to offer insights into how organizations interpreted their business challenges and adopted blockchain technology in their specific supply chain context; content analysis (using Leximancer automated text mining software) for concept mapping visualization, facilitating the identification of key themes, trends and relationships, and qualitative thematic analysis (NVivo) for data organization, coding and enhancing the depth and efficiency of analysis.

Findings

The findings highlight the transformative potential of blockchain technology and offer valuable insights into its implementation in optimizing supply chain operations. Furthermore, it emphasizes the importance of product provenance information to consumers, with blockchain technology offering certainty and increasing customer loyalty toward brands that prioritize transparency.

Research limitations/implications

This research has several limitations that should be acknowledged. First, there is a possibility that some relevant investigations may have been missed or omitted, which could impact the findings. In addition, the limited availability of literature on blockchain adoption in supply chains may restrict the scope of the conclusions. The evolving nature of blockchain adoption in supply chains also poses a limitation. As the technology is in its infancy, the authors expect that a rapidly emerging body of literature will provide more extensive evidence-based general conclusions in the future. Another limitation is the lack of information contrasting academic and industry research, which could have provided more balanced insights into the technology’s advancement. The authors attributed this limitation to the narrow collaborations between academia and industry in the field of blockchain for supply chain management.

Practical implications

Practitioners recognize the potential of blockchain in addressing industry-specific challenges, such as ensuring transparency and data provenance. Understanding the benefits achieved by early adopters can serve as a starting point for companies considering blockchain adoption. Blockchain technology can verify product origin, enable truthful certifications and comply with established standards, reinforcing trust among stakeholders and customers. Thus, implementing blockchain solutions can enhance brand reputation and consumer confidence by ensuring product authenticity and quality. Based on the results, companies can align their strategies and initiatives with their needs and expectations.

Social implications

In essence, the integration of blockchain technology within supply chain provenance initiatives not only influences economic aspects but also brings substantial social impacts by reinforcing consumer trust, encouraging sustainable and ethical practices, combating product counterfeiting, empowering stakeholders and contributing to a more responsible, transparent and progressive socioeconomic environment.

Originality/value

This study consolidates current knowledge on blockchain’s capacity and identifies the specific drivers and business values associated with early blockchain adoption in supply chain provenance. Furthermore, it underscores the critical role of product fingerprinting techniques in supporting blockchain for supply chain provenance, facilitating more robust and efficient supply chain operations.

Details

Supply Chain Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-8546

Keywords

Open Access
Article
Publication date: 14 July 2022

Chunlai Yan, Hongxia Li, Ruihui Pu, Jirawan Deeprasert and Nuttapong Jotikasthira

This study aims to provide a systematic and complete knowledge map for use by researchers working in the field of research data. Additionally, the aim is to help them quickly…

1695

Abstract

Purpose

This study aims to provide a systematic and complete knowledge map for use by researchers working in the field of research data. Additionally, the aim is to help them quickly understand the authors' collaboration characteristics, institutional collaboration characteristics, trending research topics, evolutionary trends and research frontiers of scholars from the perspective of library informatics.

Design/methodology/approach

The authors adopt the bibliometric method, and with the help of bibliometric analysis software CiteSpace and VOSviewer, quantitatively analyze the retrieved literature data. The analysis results are presented in the form of tables and visualization maps in this paper.

Findings

The research results from this study show that collaboration between scholars and institutions is weak. It also identified the current hotspots in the field of research data, these being: data literacy education, research data sharing, data integration management and joint library cataloguing and data research support services, among others. The important dimensions to consider for future research are the library's participation in a trans-organizational and trans-stage integration of research data, functional improvement of a research data sharing platform, practice of data literacy education methods and models, and improvement of research data service quality.

Originality/value

Previous literature reviews on research data are qualitative studies, while few are quantitative studies. Therefore, this paper uses quantitative research methods, such as bibliometrics, data mining and knowledge map, to reveal the research progress and trend systematically and intuitively on the research data topic based on published literature, and to provide a reference for the further study of this topic in the future.

Details

Library Hi Tech, vol. 42 no. 1
Type: Research Article
ISSN: 0737-8831

Keywords

Article
Publication date: 24 November 2022

Sean MacIntyre, Michael McCord, Peadar T. Davis, Aggelos Zacharopoulos and John A. McCord

The purpose of this study is to examine whether PV uptake is associated with key housing market determinants and linked to socio-economic profiles. An abundance of extant…

Abstract

Purpose

The purpose of this study is to examine whether PV uptake is associated with key housing market determinants and linked to socio-economic profiles. An abundance of extant literature has examined the role of solar photovoltaic (PV) adoption and user costs, with an emerging corpus of literature investigating the role of the determinants of PV uptake, particularly in relation to the built environment and the spatial variation of PV dependency and dissimilarity. Despite this burgeoning literature, there remains limited insights from the UK perspective on housing market characteristics driving PV adoption and in relation spatial differences and heterogeneity that may exist.

Design/methodology/approach

Applying micro-based data at the Super Output Area-level geography, this study develops a series of ordinary least squares, spatial econometric models and a logistic regression analysis to examine built environment, housing tenure and deprivation attributes on PV adoption at the regional level in Northern Ireland, UK.

Findings

The findings emerging from the research reveal the presence of some spatial clustering and PV diffusion, in line with several existing studies. The findings demonstrate that an urban-rural dichotomy exists seemingly driven by social interaction and peer effects which has a profound impact on the likelihood of PV adoption. Further, the results exhibit tenure composition and “economic status” to be significant and important determinants of PV diffusion and uptake.

Originality/value

Housing market characteristics such as tenure composition across local market structures remain under-researched in relation to renewable energy uptake and adoption. This study examines the role of housing market attributes relative to socio-economic standing for adopting renewable energy.

Details

Journal of Financial Management of Property and Construction , vol. 28 no. 3
Type: Research Article
ISSN: 1366-4387

Keywords

Article
Publication date: 28 February 2023

Aman Dua, Rishika Chhabra and Deepankar Sinha

The first purpose is to assess the quality of containerized multimodal export and the second is to develop and demonstrate the design of a service network with quality approach.

Abstract

Purpose

The first purpose is to assess the quality of containerized multimodal export and the second is to develop and demonstrate the design of a service network with quality approach.

Design/methodology/approach

The article used the structural equation model to develop a model to measure the quality of multimodal transportation for containerized exports and finalized the model with an alternative approach. The evolutionary algorithm had been used to design a service network based on quality.

Findings

Provided factors affecting quality of multimodal transportation and reverse to one hypothesis, the construct variation in cost, time shape and quantity did not affect the quality of multimodal transportation for containerized exports. The model without variation construct was finalized by exploring causality.

Research limitations/implications

This research had scope till container loading onto the vessel and assessed the quality for containerized cargo only, and second research purpose is limited by assumed values of fitness function and the limited number of nodes, in service network design demonstration.

Practical implications

This research provided a tool to measure the quality of multimodal transportation for containerized exports and demonstrated the field application of the model developed in service network design. This approach included all factors applicable across the container movement. The integrated approach of the article provided an organized method to design a service network for containerized exports.

Originality/value

This work provided the tool to assess the quality of multimodal transportation for containerized exports and developed an approach to design a service network of multimodal transportation based on quality. This approach has considered the factors of multimodal transportation comprehensively in contrast to the optimization approaches based on operation research techniques.

Details

Benchmarking: An International Journal, vol. 31 no. 1
Type: Research Article
ISSN: 1463-5771

Keywords

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