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Searched for: [ Keywords: "Government financing" ] clear all
Journal Article
Estimating the dynamics of fiscal financing in emerging economies
by Krastina Dzhambova
Abstract
I present a theoretical model and an empirical approach for jointly estimating the effectiveness of fiscal policy and the stochastic process of sovereign interest rate shocks. The theoretical model has features relevant to small open and emerging economies. Interest rate shocks affect the ability of firms to finance payroll expenses. This theoretical feature creates a propagati [...] Read more

Journal Article
Modeling the Potential Impact of Government Regulation on Cryptocurrency Prices
by Kylie LoPiccolo  and  Francis Parisi
Abstract
Cryptocurrencies have gained popularity over the past five to six years. Most recently, events like the FTX bankruptcy fueled the interest in regulation. Moreover, it is possible that the FTX event disrupting the cryptocurrency market was a factor in Silicon Valley Bank's failure. While several countries consider regulation, from soft regulation, like Japan, to more rigid stand [...] Read more

Journal Article
Testing the Oswald hypothesis with Australian census data 2001-2016
by Megha Raut  and  W. Robert J. Alexander
Abstract
The Oswald hypothesis is that home ownership reduces mobility and through that channel results in poorer labor market outcomes. There has been only limited previous evidence on the Australian case. Here we use data from the first four Australian censuses of the twenty-first century, aggregated at the smallest geographical areas for which statistics are released. We propose test [...] Read more
Hit Affiliation:
Department of Industry Tourism and Trade, Northern Territory Government, Darwin, Australia

Journal Article
Public spending and economic growth in Ivory Coast: Wagner’s law
by Siriki Coulibaly  and  Pierre Guei
Abstract
This study simultaneously tests Wagner’s law on one hand and Keynes proposition on the other hand related both government spending and output in Ivory Coast that experiencing long run economic growth and widened deficit. That challenges the country’s fiscal sustainability. With annual data from 1980 to 2020, results show that Wagner’s law holds, the elasticity [...] Read more

Journal Article
Protection in DRM and pricing strategies for digital products considering quality degradation
by Linlan Zhang  and  Yu Zhang
Abstract
In this paper, we develop a model in which a monopolistic firm manufactures and sells a digital product, by incorporating digital rights management (DRM), quality degradation of pirated products, and government copyright enforcement into the consumer’s utility function. We determine the monopolist’s optimal pricing strategies and the appropriate DRM protection level [...] Read more

Journal Article
Artificial Intelligence Techniques in Economic Analysis
by Robertas Damasevicius
Abstract
This paper provides an overview of the existing literature on the use of artificial intelligence (AI) in various fields, including economics, finance, mining, manufacturing, and innovation. The paper identifies the drivers and effects of AI deployment in the context of innovation and highlights the challenges and opportunities that arise from the use of AI. The studies reviewed [...] Read more

Journal Article
A simulation study on the insurance claims distribution using Weibull distribution
by Hamza Abubakar  and  Muhammad Lawal Danrimi
Abstract
The Weibull distribution is extensively useful in the field of finance, insurance and natural disasters. Recently, It has been considered as one of the most frequently used statistical distributions in modelling and analyzing stock pricing movement and uncertain prediction in financial and investment data sets, such as insurance claims distribution. It is well known that the Ba [...] Read more

Journal Article
Don’t worry about the debt-GDP Ratio
by Yasuhito Tanaka
Abstract
I will show that if the propensity to consume from savings satisfies appropriate conditions, the debt-GDP ratio will not grow infinitely large and fiscal collapse will not occur. Using a basic macroeconomic model, with an overlapping generations model in mind, we show the following results: 1) The budget deficit including interest payments on the government bonds equals an incr [...] Read more

Journal Article
Impact of Carbon Emission Trading Market on Regional Urbanization: an Empirical Study Based on a Difference-In-Differences Model
by Haoyuan Cheng , Xiaoqian Liu  and  Zhenlong Xu
Abstract
China's carbon emission trading market has been formally established, but few studies have been conducted to analyze the impact of this policy on the regional urbanization level. Therefore, this paper evaluates whether the carbon trading pilot policy can enhance the regional urbanization level in China through the difference-in-differences method and analyzes the mediating role [...] Read more
Hit Affiliation:
Institute of Western China Economic Research, Southwestern University of Finance and Economics, Chengdu, China
Research Institute of Economics and Management, Southwestern University of Finance and Economics, Chengdu, China

Journal Article
How do R&D factors affect total factor productivity: based on stochastic frontier analysis method
by Shikuan Zhao , Wen Tian  and  Abd Alwahed Dagestani
Abstract
Based on provincial panel data from 1998-2018, this paper estimates research and development (R&D) factors, and a stochastic frontier analysis (SFA) model is constructed to examine the effects of R&D factors on regional total factor productivity (TFP). The results show that both R&D capital stock and R&D personnel can significantly promote regional TFP, but the [...] Read more
Hit Affiliation:
Institute of Finance and Economics, Shanghai University of Finance and Economics, Shanghai, China

Journal Article
Financial returns in reward-based crowdfunding
by Victoria Dobrynskaya  and  Julia Grebennikova
Abstract
We quantify financial returns to backers in reward-based crowdfunding projects on Kickstarter and show that such investments provide profitable opportunities in addition to non-monetary benefits. The average unconditional annualized return is 11.5% and the average return on successful projects is 30%. Hence, backing money near the end of a campaign, when the probability of succ [...] Read more
Hit Affiliation:
School of Finance, HSE University, Moscow, Russia

Journal Article
The Impact of RCEP on Dual Circulation and Greater Bay Area — From the Perspective of China’s Stock Market Conditions
by Bin Mo  and  He Nie
Abstract
With the daily data from Nov 20, 2019 to Oct 31, 2022, this paper examines the dynamic nonlinear effects of RCEP on Dual Circulation and Greater Bay Area stock market from a quantile perspective. The rolling window quantile regressions detect the positive effects of RCEP on Dual Circulation and Greater Bay Area stock markets with significant time-varying characteristics. Meanwh [...] Read more
Hit Affiliation:
Guangzhou Institute of International Finance, Guangzhou University, Guangzhou, China

Journal Article
The budget deficit in an endogenous growth model with bequest and money holdings
by Yasuhito Tanaka
Abstract
By an endogenous growth model with a two-period overlapping generations structure, I examine the existence of a budget deficit in an economy that endogenously grows by investments of firms. The consumers leave bequests to their descendants and hold money as a part of their savings. I use a Barro-type utility function, where people include the utility of their children in their [...] Read more

Journal Article
Globalization and innovation: Evidence from Vietnamese small and medium sized enterprises
by Ba Hoang Nguyen , Ho Hoang Gia Bao , Hoang Phong Le , Tram B.T. Tran  and  Thanh An Vu
Abstract
The purpose of this research is to investigate how globalization affects innovation in Vietnam’s small and medium sized enterprises (SMEs). Utilizing Probit model and the data from Vietnam’s SMEs Survey during the period 2005-2015, the research examines the micro and macro effects of globalization on the innovation of these businesses. The main results show that at [...] Read more
Hit Affiliation:
Department of Finance and Accounting Management, Ho Chi Minh City University of Law, Ho Chi Minh City, Vietnam

Journal Article
Existing Population Aging Rate may no longer be a Good Statistical Indicator
by Shuaishuai Jia  and  Xuemei Hu
Abstract
In the statistical standard of population aging adopted by the United Nations in 1956, the UN only focused on age, which is no longer a good statistical indicator in the context of deepening global population aging. To some extent, population aging is also the embodiment of social progress. This paper suggests improving the existing statistical standards of population aging to [...] Read more
Hit Affiliation:
Guangzhou Institute of International Finance, Guangzhou University, Guangzhou, China

Journal Article
Greasing the revolving door: foreign aid, governance, and private capital flows
by Ugochukwu Anyanwu  and  Amarachukwu Anyanwu
Abstract
There is a considerable amount of debate on the impact of capital liberalization on economic performance. Using Three-Stage Least Squares (3SLS) estimation technique introduced by Zellner and Theil (1962), we synthesize studies on the determinants of governance and capital flows. We find evidence of a revolving door relationship. Foreign aid has a negative impact on governance [...] Read more
Hit Affiliation:
Department of Economics and Finance, LUISS Guido Carli University, Roma, Italy

Journal Article
Are greener RTAs reducing “dirty” exports?
by Li Cao , Dahai Fu  and  Ying Zhang
Abstract
We examine the impact of environmental provisions in regional trade agreements (RTAs) on the environmentally harmful exports. Results show that environmental clauses in RTAs help reduce “dirty” exports, whereas RTA depth promotes exports. The exporting country may divert its polluting exports to its trading partner if it faces more environmental provisions with othe [...] Read more
Hit Affiliation:
School of International Trade and Economics, Central University of Finance and Economics, Beijing, China

Journal Article
The Impact of COVID-19 on Women’s Employment: Evidence from China
by Dong Zhou , Langchuan Peng  and  Shouer Chen
Abstract
This paper investigates the impacts of COVID-19 on women’s employment and gender disparity with a longitudinal dataset spanning the pandemic. We exploit the regional intensities of social vulnerability and temporal variation to implement the difference-in-differences (DID) estimation. The results indicate that the pandemic and its associated lockdowns generate a significa [...] Read more
Hit Affiliation:
Institute of Economics and Finance, Nanjing Audit University, Nanjing, China

Journal Article
Aggregate Investor Sentiment and Time-Varying Price Discovery: Evidence from the Options Market
by Yaping Zhou  and  Dayong Lv
Abstract
Previous literature shows that the price-discovery ability of options market varies substantially over time. Using data of Shanghai Stock Exchange 50 exchange-traded fund options, this paper shows that options prices contribute relatively less to price discovery during low-sentiment periods, but the price-discovery ability of options market remains unchanged during high-sentime [...] Read more
Hit Affiliation:
School of Financial Technology, Shanghai Lixin University of Accounting and Finance, Shanghai, China

Journal Article
Asymmetric efficiency of cryptocurrencies during the 2020 and 2022 events
by Mariana Chambino , Rui Manuel Teixeira Dias  and  Nicole Rebolo Horta
Abstract
In this study, we examined the efficiency of cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), DASH, EOS, and MONERO from March 1, 2018, to March 1, 2023. We separated the sample into four subperiods for this purpose: a Tranquil period that includes the period from March 1, 2018, to December 31, 2019; a First Wave that includes the year 2020; a Secon [...] Read more
Hit Affiliation:
Accounting and Finance Department, ESCE, Instituto Politécnico de Setúbal, Setúbal, Portugal