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This paper aims to examine the return and volatility transmission among economic policy uncertainty (EPU), geopolitical risk (GPR), their interaction (EPGR) and five tradable precious metals: gold, silver, platinum, palladium and rhodium.

Applying time-varying parameter vector autoregression (TVP-VAR) frequency-based connectedness approach to a data set spanning from January 1997 to February 2023, the study analyzes return and volatility connectedness separately, providing insights into how the data, in return and volatility forms, differ across time and frequency.

The results of the return connectedness show that gold, palladium and silver are affected more by EPU in the short term, while all precious metals are influenced by GPR in the short term. EPGR exhibits strong contributions to the system due to its elevated levels of policy uncertainty and extreme global risks. Palladium shows the highest reaction to EPGR, while silver shows the lowest. Return spillovers are generally time-varying and spike during critical global events. The volatility connectedness is long-term driven, suggesting that uncertainty and risk factors influence market participants’ long-term expectations. Notable peaks in total connectedness occurred during the Global Financial Crisis and the COVID-19 pandemic, with the latter being the highest.

Using the recently updated news-based uncertainty indicators, the study examines the time and frequency connectedness between key uncertainty measures and precious metals in their returns and volatility forms using the TVP-VAR frequency-based connectedness approach.

Education is, or should be, a gateway to a better life, a better understanding of ourselves in a complex and hierarchical social world. As a political scientist from a working-class mature-student background I have been fortunate enough to build a career that not only celebrates and embodies the possibilities provided by educational access but also aims to highlight the staggering lengths the socially advantaged go to in their denial of educational opportunity for the vast majority of people from my background. Like all autoethnographies, I guess this contribution may seem an idiosyncratic take on working-class life and academia; it is at once a primal scream against ingrained classism we have to confront every day, but also a recognition of the intellectual pluralism and tolerance of academia that allows and rewards even members of the ‘awkward squad’ like me if we stick it out long enough. It is a rage against the machine, but hopefully, also a small step towards changing the definition of academia.

Liberal democratic states have involved the use of private companies for purposes of detention and the debate is whether such involvement is only for immigration control or whether they are primarily for macro-economic benefits. This paper aims to present the argument that a State wishing to detain migrants must do so within the purview of immigration control and in conformity to international human rights standards rather than other latent reasons such as macro-economic benefits. The exponential growths of immigration detention over the years, this paper argues, smack of latent reasons with unarguably macro-economic benefits accruing to these States.

The methodology is doctrinal research focusing on immigration detention and privatization. Doctrinal research is library-based and reliance will be placed on primary and secondary materials such as legislations, case laws, soft laws on the one hand and textbooks, journals, articles, legal encyclopedia, databases and many valuable websites on the other hand.

Findings have been made of similarities in State practice between the UK, the USA and Australia and conclude that the trend is worrying given that privatization of the detention estate lends credence to the fact that growing international prison industry influences prison and detention policies.

These have portent implications for the violations of the rights of detainees and weaken the protection of rights under international human rights law.

The originality of this paper lies in its ability to unravel the legitimacy of immigration detention in the face of privatization and macro-economic benefits accruing to States, thereby querying the availability of the rights of migrants within the remit of State practice.

Business operates everywhere in an environment that is both dynamic and challenging: markets have globalised (supply markets and customer markets); technology has become all embracing (this includes product and process technology) and relationships with suppliers, customers and competitors are undergoing constant change (often influenced by external forces such as technology). A new business model is emerging, one in which competitive advantage is based upon managing processes that facilitate rapid and flexible responses to ‘market’ change and one in which new capabilities are based upon developing unique relationships with partners (suppliers, customers, employees, shareholders, government and, often, with competitors), an understanding of, and the ability to use and to manage the new technology and to understand the impact of knowledge creation and its distribution.

This paper attempts to answer the questions raised in a previous paper by the authors (“Creating value in the ‘new economy”’, Management Decision, Vol. 40 No. 8) which dealt with how business has had to reevaluate the importance of its assets in the “new economy”. The present paper now addresses the questions of how these changes affect traditional marketing delivery structures and mechanisms and, more importantly, how these changes affect the cost of marketing and the estimation of value that marketing delivers. The disciplines of marketing are such that a major role can be played in exploring the likely scenarios that will optimise competitive advantage.

Quality and value are currently convergent concepts in healthcare. The importance of patients as customers has increased the focus on quality management and value delivery. The Queen Elizabeth Hospital in Rotorua is a specialist hospital for rheumatic disease and rehabilitation. It has a clear mission for the delivery of customer quality and in fulfilling this mission uses a holistic approach (a value chain approach) to customer care. The value chain study of QEH’s product/service delivery has enabled medical, medical support staff and management to review both value delivery quality and delivery methods. The study explored the QEH value chain organisation and process structures and has identified questions concerning healthcare delivery and alternative methods for achieving current results and the future direction of the organisation. Value chain analysis encourages an intra‐ and inter‐organisational review of resource application and identifies alternative methods and structures for meeting objectives.

It has been said that oil price shocks affect stock market returns. However, empirical studies remain inconclusive regarding the nexus between oil price shocks and stock market returns. Consequently, the purpose of this study is to investigate the asymmetric impact of oil price shocks on stock returns in Nigeria.

A two-stage Markov regime-switching approach is used to examine the asymmetric effects of three different structural oil shocks on stock returns. The oil shocks, which include oil supply shock, aggregate demand shock and oil-specific demand shock, are derived using structural vector autoregressive. Monthly data that spans the period between January 1990 and December 2018 are deployed for estimation.

The linear estimation results show that only oil demand shock negatively and significantly affects the stock market returns. The Markov-switching regime results reveal that oil supply shock has a significant positive impact on the stock returns in a low-volatility state, whereas oil-specific demand shock negatively impacts the stock returns in a high-volatility state.

There is a need for policymakers and investors to take cognizance of not only the positive outcomes of a relatively stable state of oil price but also the negative consequences of a high-volatility state when formulating policy and making investment decisions, respectively.

This study differs from other similar studies in Nigeria that have examined the asymmetric relationship between oil price shocks and stock market return by using a two-stage Markov regime-switching approach. To the best of the authors’ knowledge, this is the first attempt at using this methodology.

This study examines the roles of cross-sectional dependence, asymmetric structure and country-to-country policy variations in the inflation-poverty reduction causal nexus in selected sub-Saharan African (SSA) countries from 1981 to 2019.

To account for cross-sectional dependence, heterogeneity and policy variations across countries in the inflation-poverty reduction causal nexus, this study uses robust Hatemi-J data decomposition procedures and a battery of second-generation techniques. These techniques include cross-sectional dependency tests, panel unit root tests, slope homogeneity tests and the Dumitrescu-Hurlin panel Granger non-causality approach.

Unlike existing studies, the panel and country-specific findings exhibit several dimensions of asymmetric causality in the inflation-poverty nexus. Positive inflationary shocks Granger-causes poverty reduction through investment and employment opportunities that benefit the impoverished in SSA. These findings align with country-specific analyses of Botswana, Cameroon, Gabon, Mauritania, South Africa and Togo. Also, a decline in poverty causes inflation to increase in the Congo Republic, Madagascar, Nigeria, Senegal and Togo. All panel and country-specific analyses reveal at least one dimension of asymmetric causality or another.

All stakeholders and policymakers must pay adequate attention to issues of asymmetric structures, nonlinearities and country-to-country policy variations to address country-specific issues and the socioeconomic problems in the probable causal nexus between the high incidence of extreme poverty and double-digit inflation rates in most SSA countries.

Studies on the inflation-poverty nexus are not uncommon in economic literature. Most existing studies focus on inflation’s effect on poverty. Existing studies that examine the inflation-poverty causal relationship covertly assume no asymmetric structure and nonlinearity. Also, the issues of cross-sectional dependence and heterogeneity are unexplored in the causal link in existing studies. All panel studies covertly impose homogeneous policies on countries in the causality. This study relaxes this supposition by allowing policies to vary across countries in the panel framework. Thus, this study makes three-dimensional contributions to increasing understanding of the inflation-poverty nexus.

Most studies on electricity-economic growth nexus in the literature are preoccupied with causality, with little attention paid to the transmission mechanisms. The orientation of most of these studies is obviously predicated on their assumption that electricity enters the production function in a Hicks-neutral fashion. Based on the assumption that productivity of capital is affected by electricity supply, this study estimates a production function in which electricity enters the model in capital-augmenting style. The study aims to examine the transmission channels in the electricity-economic growth nexus.

Using monthly data on Nigeria from 1980 to 2013, the study uses the three-stage least square regression technique, which not only controls for possible endogeneity in the model but also allows for tracing the transmission linkages to estimate the relationship between electricity and economic growth in Nigeria.

This study establishes that electricity positively affected economic growth in Nigeria however through its positive effects on industrial output. The direct effect of electricity on economic growth was insignificant. This study thus concluded that the transmission mechanism in electricity-economic growth nexus is the electricity-induced industrial growth.

Nigeria should increase her electricity supply (for increased electricity consumption) because this would significantly stimulate her industrialization and economic growth.

This study differs from earlier studies in that it did not primarily focus on causality; it examined the transmission channels in the electricity-economic growth nexus. Moreover, it differs from them on the implicit assumptions made by earlier studies that electricity enters the production function in a Hicks-neutral fashion. It rather estimated a model in which electricity enters the production function in capital-augmenting fashion because the study assumed that productivity of capital is affected by electricity supply.