Showing papers in "Economic Modelling in 2016"

TL;DR: In this paper, the authors investigated the impact of foreign direct investment, economic growth and energy consumption on carbon emissions in five selected member countries in the Association of South East Asian Nations (ASEAN-5), including Indonesia, Malaysia, the Philippines, Singapore and Thailand.

TL;DR: In this article, the authors examined the relationship between Corporate Social Performance (CSP) and corporate financial performance (CFP), using both accounting-based (Return on Assets and Return on Capital) and market based (Excess Stock Returns) performance indicators.

TL;DR: In this article, the authors investigated the dynamic relationship between economic growth and carbon dioxide (CO2) emissions for 181 countries and found that CO2 emissions will decline with an increase in income over time, consistent with the environmental Kuznets curve (EKC) hypothesis.

TL;DR: The robustness check suggests that the data time-frequency does not change the specification of the NARDL model but can change conclusions regarding the role of gold as a hedge against inflation in certain countries.

TL;DR: In this article, the authors investigated whether or not banks engaging in CSR activities can bring profits and reduce nonperforming loans, and they applied three estimation methods to obtain the unbiased and full-blown CSR effect.

TL;DR: In this paper, the contagion effects of the global financial crisis (GFC) and Eurozone sovereign debt crisis (ESDC) on Islamic equity and bond markets were investigated.

TL;DR: In this paper, the authors explored the effects of cultural heritage in fostering tourism demand and the role of UNESCO World Heritage List (WHL) in the enhancement of tourism destinations competitiveness.

TL;DR: In this paper, the authors extended the Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) model to be a panel error-correction model, which allows for a rich dynamic analysis where changes of urbanization account for carbon dioxide emissions.

TL;DR: In this paper, the authors examined the effect of exchange rate volatility on international trade volumes for Mexico, Indonesia, Nigeria, and Turkey using the autoregressive distributed lag (ARDL) bound testing approach, while for short-term effects, Granger causality models are employed.

TL;DR: In this article, the authors apply the Autoregressive Distributed Lag Cointegration (ARDL) approach to identify some major drivers of per capita real U.S. health spending.

TL;DR: In this article, the relationship between armed and civil conflicts and oil prices was investigated using monthly data since 1859, and the effect of 32 different geopolitical events on real oil prices.

TL;DR: This article examined the relationship between financial development and shadow economy using data for 161 countries over the period 1960-2009 and found that financial development reduces the size of the shadow economy and there is some evidence of reverse causality between these variables.

TL;DR: The authors analyzes regional income inequality and convergence in China from the perspective of club convergence proposed by Phillips and Sul (2007), and finds strong evidence that income inequality within a club decreases, while that between clubs deteriorates over time.

TL;DR: In this paper, the authors synthesize the literature by identifying robust determinants of the shadow economy and addressing related modeling uncertainty, and they find that bureaucratic complexity is more significant than monetary severity in driving shadow economy, and the incentives of new shadow entrepreneurs are somewhat different from established shadow operators.

TL;DR: In this article, the role of gold as a safe haven in international stock markets using various copula techniques to capture complex dependencies between stock markets and gold prices was investigated using 11 years of daily data from seven countries.

TL;DR: In this article, the authors make the initial attempt to study the extent to which the Malaysian Shari'ah (Islamic) investors can benefit from portfolio diversification with the Shariah indices of their major trading partners (China, Singapore, Japan, United States and Thailand).

TL;DR: In this article, the authors assess the macroeconomic impact of fiscal policy and monetary policy shocks for five key emerging market economies (Brazil, Russia, India, China and South Africa) using a Panel Vector Auto-Regressive (PVAR) model.

TL;DR: In this article, the authors provide empirical and theoretical evidence that tourism matters for international trade and use the framework proposed by Helpman, Melitz and Rubinstein (2008) by recognising that tourism flows could reduce fixed and variable costs of exporting.

TL;DR: In this paper, the authors investigate vertical price transmission in the US beef sector and employ the Nonlinear ARDL model which allows prices to be tied by asymmetric relationships both in the long- as well as in the short-run.

TL;DR: In this article, the authors examine heterogeneous responses to changes in fiscal decentralization policy associated with the 1994 tax reform in China and the nonlinearity of these responses and show that the effects of revenue and expenditure decentralization on economic growth vary across the three main sectors, with the largest impact on the secondary sector.

TL;DR: The results reveal that the GEP technique outperforms traditional statistical techniques in predicting oil prices and has the highest explanatory power as measured by the R-squared statistic.

TL;DR: In this paper, the authors investigated the relationship between Islamic banking development and economic growth using a sample of 52 countries with data covering the period 1990-2010 and found that despite its relatively small size compared to the economy and the overall size of the financial system, Islamic banking is positively associated with economic growth.

TL;DR: In this paper, the authors study bank lending behavior over the business cycle in a dual banking system, Malaysia, with the objective of ascertaining whether Islamic banks have a role in stabilizing credit.

TL;DR: In this paper, the effects of discretionary fiscal policy in Germany and the Euro area during the global financial crisis were investigated and it was shown that these cumulated effects had a sizeable negative contribution to GDP in both regions.

TL;DR: In this article, the authors examined the potential asymmetric transmission from crude to oil product prices in India and showed that the asymmetric price transmission is high across all oil products, when higher and lower quantiles of crude price fluctuations are compared.

TL;DR: Based on the historical data of crude oil, diesel and gasoline markets during November 2001-December 2015, the authors employed the state-space model and log-periodic power law (LPPL) model to explore the dynamic bubbles of oil prices and predict their crash time.

TL;DR: In this paper, the authors investigate the role of heterogeneity in the insurance sector, where heterogeneity is represented by different types of insurance provided and regions served, and use a balanced panel data set on Brazilian insurance companies as a case study.

TL;DR: In this article, the authors explored the argument that the adverse distributional impact of remittances obtained by a number of studies could partially be due to the failure to control for existing differentials in the ability to migrate.

TL;DR: In this paper, a wavelet decomposition approach was used to study co-movement among foreign exchange markets using the returns of exchange rates (GBP/USD, EUR/USD and JPY/USD).

TL;DR: In this paper, the authors assess the growth implications of alternative methods of financing public spending on education in a small open economy and find that the non-distortionary financing method provides the highest output increase through its strong effect on physical and human capital stocks.