Showing papers in "Economic Modelling in 2015"

TL;DR: In this article, the causal relationship between energy consumption, carbon dioxide emissions, economic growth, trade openness and urbanization for a panel of new EU member and candidate countries over the period 1992-2010 was investigated.

TL;DR: In this article, Baur and Lucey (2010) augmentation of their model to a smooth transition regression (STR) using an exponential transition function which splits the regression model into two extreme regimes: periods in which stock returns are on average and therefore allowing to test whether gold acts as a hedge for stocks, the other one accounts for extreme market conditions where the volatility of the stock returns is high.

TL;DR: In this article, the authors used the VAR-GARCH framework of Ling and McAleer (2003) to explore both return and volatility spillovers between world gold prices and stock market in China over the period from March 22, 2004 through March 31, 2011.

TL;DR: In this article, the authors examined the relationship between Chinese aggregate production and consumption of three main energy commodities: coal, oil and renewable energy, and found that Chinese growth is led by all three energy sources.

TL;DR: The authors explored the global FDI-growth relationship through an informed econometric analysis predicated on substantial guidance obtained from a detailed investigation of 880 estimates reported in 108 published studies.

TL;DR: In this paper, the authors examined the dynamic relationship between tourism growth and economic growth, using a newly introduced spillover index approach, based on monthly data for 10 European countries over the period 1995-2012, revealing the following empirical regularities.

TL;DR: In this article, the link between economic performance, financial depth and financial stability in the European Union from 1998 to 2011 was established, and it was shown that financial instability has a negative effect on economic growth.

TL;DR: In this paper, the authors examined technical efficiency and its determinants of 36 micro-finance institutions in Sri Lanka using a two-stage double bootstrap approach and two different DEA models were designed to obtain DEA scores along financial and social perspectives.

TL;DR: In this paper, the authors investigate how socially responsible behavior influences firms' profits and social welfare when production entails an environmental externality, and they find that even if the environmental concern restrains the production of a CSR firm, the social concern expands it.

TL;DR: In this article, the contagion effects of the Global Financial Crisis (2007-2009) by examining ten sectors in six developed and emerging regions during different phases of the crisis was investigated.

TL;DR: In this article, the authors examined the time-varying linkages of a major oil-based frontier stock market with major commodity futures markets including WTI oil, gold, silver, wheat, corn and rice, and drew implications for portfolio risk management.

TL;DR: In this article, the authors examined the impact of macroeconomic factors on foreign direct investment (FDI) inflows in Norway under the location-specific advantage and found that the real GDP, sector GDP, exchange rate and trade openness have a positive and significant impact on FDI inflows.

TL;DR: In this article, the role of Google search volume index (GSVI) to measure investor attention, and investigate the relationship among the GSVI, different trader positions, and crude oil prices from January 2004 to June 2014.

TL;DR: In this article, a novel identification strategy, proposed by Lewbel (2012), which utilizes a heteroscedastic covariance restriction to construct an internal IV, can be used to obtain IV estimates for returns to education when alternatively there are no conventional IVs available or the conventional IV that are available are potentially weak.

TL;DR: In this article, the interaction between monetary policy and macro-prudential rules and whether policy makers should respond to financial imbalances is examined, and it is shown that it is beneficial to react to financial imbalance.

TL;DR: In this article, the authors evaluate whether the development of Islamic banking influences macroeconomic efficiency and provide support for a non-linear relation between efficiency and Islamic banking development, which is measured by credit or by deposits.

TL;DR: Wang et al. as mentioned in this paper employed the panel quantile regression model to study the nonlinear effect of investor sentiment on monthly stock returns in the Chinese A-share stock market.

TL;DR: In this paper, the authors examined the dynamic process of convergence among cross-border stock markets in China and ASEAN-5 countries using recursive cointegration analysis and found that these six stock markets had at most one cointegrating vector from 1994 to 2002.

TL;DR: In this paper, the authors examined the impact of financial distress on tax avoidance and in particular, the impact on the association between financial distress and tax avoidance based on a sample of 203 publicly-listed Australian firms covering the 2006-2010 period and found that financial distress is significantly and positively associated with tax avoidance across several proxy measures of tax avoidance.

TL;DR: In this article, the impact of various institutions on economic growth using panel data for 56 countries over the period 1981-2010 was examined at aggregated level for world representative sample as well as for the sample disaggregated by the development level of the countries.

TL;DR: Acemoglu et al. as discussed by the authors study the interaction of learning-by-doing spillovers with the substitution elasticity between a clean and a dirty sector to evaluate the robustness of policies averting the carbon lock-in.

TL;DR: In this paper, the authors considered a production inventory model for deteriorating items with ramp type demand rate under the effect of inflation and shortages under fuzziness, and optimized their solution by considering production time and production rate as decision variables in two separate cases.

TL;DR: In this paper, the authors examined the relationship between the quality of different dimensions of institutional infrastructure and economic growth in a panel of 39 member countries of the Organization of Islamic Cooperation (OIC).

TL;DR: In this paper, the impact of oil shocks and stock market crashes on correlations between stock and oil markets was investigated and the authors found evidence of contagion, in particular during the 2008 and 2011 stock market falls.

TL;DR: In this paper, the causality between remittances and financial sector development in Sub-Saharan African (SSA) countries was investigated using the panel Granger causality testing approach that is based on Seemingly Unrelated Regressions (SUR) multivariate systems and Wald tests with country specific bootstrap critical values.

TL;DR: In this paper, the role of gold in diversification of Chinese portfolios using mean risk and stochastic dominance analysis was studied with the Shanghai Gold Exchange for the 2004-2014 period.

TL;DR: In this article, the authors used a multiple threshold nonlinear autoregressive distributed lag model to assess the nonlinear relationship among crude oil and petroleum product prices in the United States, and found the presence of a relatively high asymmetric impact at the lower quantiles of crude oil price changes.

TL;DR: In this article, the authors established a new metafrontier directional technology distance function (MDDF) under a stochastic framework, rather than a deterministic setting like the one proposed by Battese et al. (2004).

TL;DR: In this paper, the authors investigate oil price shocks' effects and their associated transmission channels on global imbalances using a Global VAR approach that allows us to account for trade and financial interdependencies between countries considering a sample of 30 oil-exporting and importing economies over the 1980-2011 period.

TL;DR: In this article, a hybrid forecasting methodology that combines the ensemble empirical mode decomposition (EEMD) from the field of signal processing with the support vector regression (SVR) methodology originates from machine learning is proposed.