3 research outputs found
CO2 Emissions, Energy Consumption and Economic Growth
The paper investigates the role of consumption of both renewable and sustainable energy, as well
as alternative and nuclear energy, in mitigating the effects of carbon dioxide (CO2) emissions,
based on the Environmental Kuznets Curve (EKC). The papers introduces a novel variable to
capture trade openness, which appears to be a crucial factor in inter-regional co-operation and
development, in order to evaluate its effect on the environment, The empirical analysis is based on
a sample of nine signatories to the Comprehensive and Progressive Agreement for Trans-Pacific
Partnership (CPTPP) for the period 1971-2014, which is based on data availability. The empirical
analysis is based on several time series econometric methods, such as the cointegration test, two
long run estimators, namely the fully modified ordinary least squares (FMOLS) and dynamic
ordinary least squares (DOLS) methods, as well as the Granger causality test. There are several
noteworthy empirical findings: it is possibl
Modelling the Relationship between Crude Oil and Agricultural Commodity Prices
The food-energy nexus has attracted great attention from policymakers, practitioners and academia
since the food price crisis during the 2007-2008 Global Financial Crisis (GFC), and new policies
that aim to increase ethanol production. This paper incorporates aggregate demand and alternative
oil shocks to investigate the causal relationship between agricultural products and oil markets,
which is a novel contribution. For the period January 2000 - July 2018, monthly spot prices of 15
commodities are examined, including Brent crude oil, biofuel-related agricultural commodities,
and other agricultural commodities. The sample is divided into three sub-periods, namely: (i)
January 2000 - July 2006; (ii) August 2006 - April 2013; and (iii) May 2013 - July 2018. The
Structural Vector Autoregressive (SVAR) model, impulse response functions, and variance
decomposition technique are used to examine how the shocks to agricultural markets contribute to
the variance of crude oil prices. The empirical findings from the paper indicate that not every oil
shock contributes the same to agricultural price fluctuations, and similarly for the effects of
aggregate demand shocks on the agricultural market. These results show that the crude oil market
plays a major role in explaining fluctuations in the prices and associated volatility of agricultural
commoditie
Financial Inclusion and Macroeconomic Stability in Emerging and Frontier Markets
Financial inclusion, being considered as a key enabler to reducing poverty and boosting prosperity
in emerging and frontier markets such as Vietnam, is the process in which individuals and small
businesses are provided with an access to useful and affordable financial products and services.
The extant literature on the empirical evidence regarding the contribution of financial inclusion to
macroeconomic stability is mixed. This paper investigates the linkages between financial inclusion
and macroeconomic stability, which has not yet been thoroughly examined in the literature, for 22
emerging and frontier economies from 2008 to 2015, with particular focus on a potential optimal
level. Using the panel threshold estimation technique, the empirical findings show that financial
inclusion, as approximated by the growth rate in the number of bank branches over 100,000
account holders, is found to enhance financial stability under a certain threshold. Financial
inclusion is also found to be of benefit to maintaining stable inflation and output growth. Policy
implications are also discussed on the basis of the important empirical findings