Time–frequency Analysis Between Economic Risk and Financial Risk in the Mint Nations: What Causes What?

Adebayo, Tomiwa Sunday; Kırıkkaleli, Derviş; Rjoub, Husam

doi:10.1142/s2010495222500130

Cited by 11 publications

(7 citation statements)

References 45 publications

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“…In this paper, we apply the spatial Durbin model, instrumental variable, and heterogeneity analysis to assess the impact of tax competition and environmental regulation on high-quality economic development. Extensions of our paper include applying our approach to study other development issues ( 41 – 48 ), policy issues ( 49 – 51 ), economic and financial risks ( 52 – 55 ), and many other important issues.…”

Section: Discussionmentioning

confidence: 99%

Tax competition, environmental regulation and high-quality economic development: An empirical test based on spatial Durbin model

Xu-ming

Hashmi²,

Hu³

et al. 2022

Front. Public Health

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Studying economic development in China is a very important topic recently because China's economy is moving toward high-quality development and local governments face the dilemma of environmental governance and economic development. To contribute to the literature in this area further, this paper assesses the impact of tax competition and environmental regulation on high-quality economic development through the spatial Durbin model and instrumental variable and by using the data from 278 prefecture-level and above cities from 2007 to 2017 in China. Our empirical analysis shows that tax competition inhibits high-quality economic development and a positive spatial spillover effect, environmental regulation has a significant direct promoting effect on high-quality economic development and a negative spatial spillover effect, and local government tax competition inhibits the promotion effect of environmental regulation on high-quality economic development. Further heterogeneity analysis conducted in our study shows that both the direct and spatial spillover effects of tax competition and environmental regulation on high-quality economic development in large and medium-sized cities are significantly lower than those in small cities. Our empirical analysis infers that since the 18th National Congress of the Communist Party of China, the promotion effect of environmental regulation on high-quality economic development and the synergistic effect with tax competition has become more and more significant. The findings in our paper are useful for both the central government and the local governments in making better decisions for economic development in China as well as in other countries.

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Section: Discussionmentioning

confidence: 99%

Tax competition, environmental regulation and high-quality economic development: An empirical test based on spatial Durbin model

Xu-ming

Hashmi²,

Hu³

et al. 2022

Front. Public Health

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show abstract

“…As a final step causality test of Breitung and Candelon ( 2006 ) was employed as in Adebayo et al ( 2022a , b ). The test is developed based on the previous efforts of Geweke ( 1982 ) and Hosoya ( 1991 ).…”

Section: Methodsmentioning

confidence: 99%

“…The study attempts to add significant outcomes to the literature by performing a dynamic regression model and a frequency domain causality test. One important significance of this study is that the Economic Policy Uncertainty Index, which is the subject of different studies in the literature, such as, Adebayo et al ( 2022a , b ) but used very shallowly in the explanation of food prices, is included in the models. Within the scope of this study, a study examining the relationship between economic policy uncertainty and U.S. food prices could not be found.…”

Section: Introductionmentioning

confidence: 99%

New insights into an old issue: modelling the U.S. food prices

Kırıkkaleli

Darbaz

2022

Lett Spat Resour Sci

Self Cite

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The study attempts to add significant outcomes to the U.S. food prices literature by performing a dynamic regression model and a frequency domain causality test to explore the causality and relationships between U.S. food prices, energy prices, economic policy uncertainty, and the value of the U.S. dollar. It is shown that dollar price negatively affects the food price index at both high and low volatility periods. Furthermore, it is presented that there is a permanent long-run causal relationship running from the dollar index to the food price index. The results indicated that there is a significant positive relationship between the energy price index and the food price index. Moreover, energy is found to be a long-run and permanent cause of the food price index. The effect of uncertainty has not been sufficiently explored in the food pricing field, the outcome of this study reveals that uncertainty increases the food price index at high volatility times. Besides, uncertainty is shown to be the long-run and permanent cause of the food price index.

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“…Equation (2) shows the first difference, LNFA is the natural log of non-financial assets, LGDP the economic growth, LGCF gross capital formation, LFDI the log of foreign direct investment, LICT is the log of information and communication technology, and LCE is the natural log of carbon emissions, and t-i represents the optimal selection of lags according to the Akaike information criterion. To test for long-term correlations between the research variables, and will be studied.…”

Section: Autoregressive Distributed Lag Bounds Testmentioning

confidence: 99%

“…However, the transaction sector also needs investments in fixed assets, whose state determines the effectiveness of transactions (the value of transaction costs). There may be a financial crisis resulting from the deflation of the housing bubble, the failure of the banking structure, and the mounting debt ( 2 ). Secondly, long-term socio-economic issues, such as rising unemployment, expanding discrimination, austerity programs, welfare cuts, and limited industrial effectiveness in a globalized world, will significantly impact in the next 5–10 years.…”

Section: Introductionmentioning

confidence: 99%

The influence and mechanism of health expenditures on investment of financial assets decisions: A case study of China's economy

Shao

Liu²

2022

Front. Public Health

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Policymakers worldwide have been actively involved in the past few decades to ensure that human diseases are kept to a minimum. A new econometric technique, dynamic ARDL simulations, was used in this study to estimate and model the influence of health expenditures on investment in non-financial assets in China from 1990 to 2019. An economic growth framework, gross capital formation, information and communication technologies, foreign direct investment, and carbon emissions are all considered in the empirical model—the analysis produced interesting results. First, the estimates show that health expenditures and foreign direct investment have a significant long-run decreasing impact on non-financial assets in China by 0.451 and 0.234%. Second, economic growth and gross capital formation significantly affect the economy's non-financial assets. Likewise, ICT and carbon emissions also positively correlate with an explained variable in China. The findings show that the economy is becoming less investment-intensive as health spending and foreign direct investment rise. The study develops important policy implications for the selected country to achieve desired targets based on the empirical results.

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Time–frequency Analysis Between Economic Risk and Financial Risk in the Mint Nations: What Causes What?

Cited by 11 publications

References 45 publications

Tax competition, environmental regulation and high-quality economic development: An empirical test based on spatial Durbin model

Tax competition, environmental regulation and high-quality economic development: An empirical test based on spatial Durbin model

New insights into an old issue: modelling the U.S. food prices

The influence and mechanism of health expenditures on investment of financial assets decisions: A case study of China's economy

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