Showing papers in "Economic Modelling in 2020"

TL;DR: Wang et al. as mentioned in this paper examined impacts of digital inclusive finance on household consumption and explored its mechanisms, finding that digital finance mainly promoted the recurring household expenditures rather than the non-recurring expenditures.

TL;DR: In this paper, the authors compare gold and Bitcoin for the G7 stock markets and find that the out-of-sample hedging effectiveness of gold is much superior to that of Bitcoin.

TL;DR: In this article, the authors find that economic growth and energy consumption patterns contribute to the enhancement of countries' environmental performance levels, highlighting the necessity to promote sustainable development through a coexistence rather than through a trade-off mechanism.

TL;DR: In this article, price connectedness between the green bond and financial markets using a structural vector autoregressive (VAR) model that captures direct and indirect transmission of financial shocks across markets was studied.

TL;DR: In this paper, the authors examined how corporate social responsibility (CSR) affects the level of financial distress risk (FDR) and found that firms with higher CSR levels have lower FDR, suggesting that a better CSR performance makes firms more creditworthy and have better access to financing.

TL;DR: Wang et al. as discussed by the authors examined the impact of the voluntary environmental certification of ISO 14000 on firm innovation, and found that ISO certification leads to more innovation input and output in sampled Chinese firms.

TL;DR: In this article, the authors compared the financial properties of cryptocurrencies and investigated their dynamic relationship with major financial securities and commodities using different time-varying copula approaches and bivariate dynamic conditional correlation GARCH models, finding that the cross-correlation with conventional assets is changing over time but weak.

TL;DR: Wang et al. as discussed by the authors investigated the stock market response to the release of new environmental policies in China from the perspective of investor attention and found consistent evidence that the announcement of new Environmental policies hurts the stock returns of heavily polluting firms in the short term.

TL;DR: The connectedness of the most significant global equity indices that comprise companies with the highest environmental, social, and governance (ESG) performance exhibits dynamic patterns during three periods: the European sovereign debt crisis, the systemic Greek problems, and the outbreak of the coronavirus pandemic.

TL;DR: In this paper, the authors investigate the extent to which an increase in financial development affects the positive effect of foreign direct investment on economic growth in 62 middle and high-income countries spanning the period 1987-2016.

TL;DR: In this paper, the authors investigate the relationship between Bitcoin and conventional financial assets from a perspective on the connectedness of asset networks and find that the connection between bitcoin and conventional assets is weak.

TL;DR: In this paper, the effects of wealth inequality on economic growth were investigated using a new panel data set from Credit Suisse for 45 sample countries over the period 2000-2012, and it was shown that the wealth inequality is negatively associated with cross-country economic growth.

TL;DR: The authors investigated how households adopt and use air conditioning to adapt to climate change and increasingly high temperatures, which pose a threat to the health of vulnerable populations, and found that households respond to excess heat by purchasing and using air conditioners, leading to increased electricity consumption.

TL;DR: In this paper, the authors examined the relationship between economic policy uncertainty and mergers and acquisitions (M&As) in China using all listed Chinese companies on the Shanghai and Shenzhen Stock Exchanges as well as 4188 M&A deals from the period of 2001-2018.

TL;DR: In this article, the frequency dynamics of the transmission mechanism arising from frequency-specific responses to volatility shocks was examined. But the authors focused on the volatility connectedness between oil and natural gas over the period 1994 to 2018.

TL;DR: In this paper, the authors proposed an extreme Granger causality analysis model to uncover the causal links between crude oil and BRICS stock markets, which decomposes the data into three cumulative components and investigates the causality between different combinations of extreme positive, extreme negative and normal shocks.

TL;DR: Analysis reveals that individuals with an internal locus of control have better self-assessed health as well as physical and mental health and rely less on medical care, both preventive and curative.

TL;DR: In this article, the authors proposed a dynamic growth model where output is produced using two types of energy sources: fossil fuel and renewable energy, and they showed that adopting those policies should slow down the growth rate of cumulative emissions; but the outcome is contingent upon the carbon emission targets set for advanced countries, as distinct from those assigned to developing countries.

TL;DR: In this paper, the authors examined the effect of sectoral foreign aid and institutional quality on the economic growth of 74 developing countries from Africa, Asia and South America, and covers the period 1980-2016.

TL;DR: In this article, the authors analyzed the relationship between agglomeration and TFP growth through the smooth transition model under different regions and factor-intensity, and found that the effect of GML and GML on TFP is different for various intensive industries in different regions.

TL;DR: In this paper, the authors examine the dynamic spillovers between Bitcoin and 12 developed equities, gold, and crude oil for different market conditions using a Bayesian Time-Varying Parameter Vector Autoregressive (TVP-VAR) model with daily spot prices.

TL;DR: In this paper, the authors examined the effect of legal central bank independence on inflation in developing countries and found that higher central bank autonomy is associated with lower inflation rates, and that this effect is stronger the more democratic a country is, but also present in non-democratic countries.

TL;DR: Investigating a collection of 78 cryptocurrencies, it is found that there are anomalous returns that decrease with size and increase with return momentum, and the momentum effect is more significant in small cryptocurrencies.

TL;DR: This article investigated the impact of university-industry collaboration on firms' innovation efficiency using a balanced panel of 443 innovative firms in China from 2008 to 2011 and found that UI collaboration can be detrimental to a firm's innovation efficiency initially but that the firm can benefit from UI collaboration as engagement deepens.

TL;DR: Zhang et al. as mentioned in this paper investigated whether top management teams' academic experience affects corporate innovation, using manually-collected data on Chinese firms from the period of 2008-2017.

TL;DR: In this paper, a sample of firms from the World Bank Enterprise Survey for the period 2006-2016 in emerging and developing countries was used to find that corruption has a negative impact on the likelihood of innovations, thus supporting the sanding-the-wheels hypothesis.

TL;DR: In this article, a newly acquired dataset comprising financial parameters derived from the annual reports of small and medium-sized companies was used for bankruptcy prediction, which revealed the true ratio between bankrupt and non-bankrupt companies.

TL;DR: In this paper, the authors developed a theoretical framework to analyze the effects of production uncertainties on the efficiency of agricultural subsidy policies under the double constraints of food security and environmental protection, and they showed that uncertainty, including output, cost, and price uncertainties, and technology conversion efficiency significantly affects the efficiency.

TL;DR: The authors found that while financial literacy training directly benefits men, it does not raise the sales levels of women entrepreneurs, instead, tertiary education has a direct positive link with the performance of women.

TL;DR: In this paper, the authors use a survey of finance among Canadian small and medium-sized enterprises to measure the likelihood of a firm being constrained by credit, and then estimate the firm-level total factor productivity, taking into account the measured credit constraints.