The Spillover Effect of Global Uncertainty on BRICS Stock Markets

Using monthly data spanning from 1993 to 2021 and employingthe DCC-GARCH model, this study examines the role ofEconomic Policy Uncertainty (EPU) as a potential exogenousfactor impacting the correlation of Brazil, Russia, India, andChina (BRIC) economies’ stock markets, which is new to theliterature. Further, this dynamic correlation series is used as adependent variable while EPU of BRIC and USA is used as anindependent variable by utilizing the autoregressive distributedlag (ARDL) model. The study finds a positive and significantshort-run as well as the long-run impact of Russia’s and theUS’s EPU on their stock markets. In other words, as the EPUof the USA increases, the correlation of BRIC with the USAStock Market and the World Stock Market increases, suggestingminimum diversification opportunities for the investors. Thestudy also recommends that investors diversify their portfoliosby considering cross borders assets avenues to gain maximumreturns and reduce portfolio risk.JEL Classification: E44, C32, E52, E60, E62, C58How to Cite:Nawaz, A. D., Bhutto, N. A., & Khan, S. (2023). The Spillover Effect of Global Uncertainty on BRICS Stock Markets. Etikonomi, 22(1), 45–64. https://doi.org/10.15408/etk.v22i1.24617

Islamic and Conventional Banks Stability in Indonesia

Research Originality: The stability of banking institutions is crucial for the overall financial health of a country. The originality of this paper lies in its innovative use of quantile regression analysis to provide a nuanced understanding of the factors influencing bank stability, particularly in the Indonesian context.Research Objectives: This research identifies factors influencing bank stability in Islamic and conventional banks in Indonesia.Research Methods: Utilizing quantile regression analysis to measure the impact of various factors at different quantiles, addressing the existing mixed findings in the literature. This study utilizes 15 years of data, encompassing 61 observations for Islamic banks and 779 observations for conventional banks in Indonesia.Empirical Results: The study identifies impaired loans as the primary determinant of bank stability in Indonesia, with a notably greater impact on conventional banks compared to Islamic banks. Notably, the upper quantile of Islamic banks indicates a decline or a lesser impact on bank stability.  The paper additionally concludes that the stability of Islamic banks in Indonesia is comparatively lower than conventional banks.Implications: By offering insights into the different levels of factors affecting bank stability, the study contributes to the existing literature, sheds light on unique dynamics, and highlights potential recommendations for enhancing bank stability, especially in the context of non-performing loans.JEL Classification: C21, C23, G21How to Cite:Khan, S., Aziza, N. A., & Nawaz, A. D. (2024). Islamic and Conventional Banks Stability in Indonesia. Etikonomi, 23(1), 167 – 182. https://doi.org/10.15408/etk.v23i1.33879

The Lucas Paradox and Institutional Quality: Evidence from Emerging Markets

The neoclassical theory illustrates that the capital will flow from the capital-rich economies towards the capital-poor states. However, it is generally observed that the capital does not move from high-income to low-income economies. This contradictory behavior of global capital flows is called the Lucas paradox. According to Alfaro, Kalemli-Ozcan, & Volosovych (AKV) model, the Lucas paradox can be entirely explained by the institutional quality. In the light of AKV notion, this paper examines the role of institutional quality in explaining the Lucas paradox. The empirical analysis involves 17 major emerging economies of the world by using panel data for the period 1999-2018. The GMM estimation reveals that the Lucas paradox is explained by the institutional quality in case of FDI flows only. However, institutional quality indicators generally remain unable to explain the paradox in case of portfolio equity capital flows. Moreover, financial development is found to be a significant determinant of portfolio equity flows in the emerging markets. Finally, we suggest that the financial flows to the emerging markets are sensitive to the nature of the capital flows

Exploring the phytochemicals and anti-cancer potential of the members of fabaceae family: a comprehensive review

Cancer is the second-ranked disease and a cause of death for millions of people around the world despite many kinds of available treatments. Phytochemicals are considered a vital source of cancer-inhibiting drugs and utilize specific mechanisms including carcinogen inactivation, the induction of cell cycle arrest, anti-oxidant stress, apoptosis, and regulation of the immune system. Family Fabaceae is the second most diverse family in the plant kingdom, and species of the family are widely distributed across the world. The species of the Fabaceae family are rich in phytochemicals (flavonoids, lectins, saponins, alkaloids, carotenoids, and phenolic acids), which exhibit a variety of health benefits, especially anti-cancer properties; therefore, exploration of the phytochemicals present in various members of this family is crucial. These phytochemicals of the Fabaceae family have not been explored in a better way yet; therefore, this review is an effort to summarize all the possible information related to the phytochemical status of the Fabaceae family and their anti-cancer properties. Moreover, various research gaps have been identified with directions for future research

Subtropical broad-leaved urban forests as the foremost dynamic and complex habitats for a wide range of bird species

Broad-leaved subtropical forests are the most productive, diversified, and complex ecosystems on the planet. Unfortunately, they are currently under severe threat from anthropogenic activities, such as. deforestation, housing settlements, and agricultural expansion. In response to these severe effects, the present study was conducted to explore the current conservation status and population structure of a wide range of bird species inhabiting different subtropical broad-leaved urban forests of Pakistan. In total, 2879 individuals comprising 53 species and 28 families were detected between December 2017 and November 2018 as revealed through the distance sampling line transect method. The habitat selection among bird species varied according to vegetation structure and composition, food resources, adjoining habitats, and human settlements. According to IUCN Red List data, one species was deemed vulnerable out of 53 bird species, while the remaining 52 species were ranked as ofleast concern. The findings of the density analysis revealed that bird density varied between six subtropical broad-leaved forests. Palamar (3.954 ± 0.221 birds/ha) and Kityari (3.138 ± 0.162 birds/ha) were densely populated, whereas Kamal Khan (1.102 ± 0.178 birds/ha) was of the least concern. Likewise, the diversity analysis showed that Kamal Khan was a more diverse habitat (Shannon–Wiener Index; H’ = 3.581 ± 0.021). Shahabad was richer (Margalef Richness Index; R1 = 8.007 ± 0.053) and Dob Ghar was evenly distributed (Pielou J Evenness Index; E = 0.940 ± 0.005) compared to other urban habitats studied. Eight foraging guilds were identified among the bird species. Insectivores were the most abundant bird species utilizing the urban dwelling habitats. carnivores/piscivores/insectivores utilized Dob Ghar forest, while more frugivores utilized Kamal Khan and Dob Ghar. Based on the data, it was concluded that subtropical broad-leaved urban forests are dynamic, complex, and of vital significance for a diverse range of bird species

Vanadium toxicity in chickpea (Cicer arietinum L.) grown in red soil: Effects on cell death, ROS and antioxidative systems

The agricultural soil contaminated with heavy metals induces toxic effects on plant growth. The present study was conducted to evaluate the effects of vanadium (V) on growth, H2O2 and enzyme activities, cell death, ion leakage, and at which concentration; V induces the toxic effects in chickpea plants grown in red soil. The obtained results indicated that the biomass (fresh and dry) and lengths of roots and shoots were significantly decreased by V application, and roots accumulated more V than shoots. The enzyme activities (SOD, CAT, and POD) and ion leakage were increased linearly with increasing V concentrations. However, the protein contents, and tolerance indices were significantly declined with the increasing levels of V. The results about the cell death indicated that the cell viability was badly damaged when plants were exposed to higher V, and induction of H2O2 might be involved in this cell death. In conclusion, all the applied V levels affected the enzymatic activities, and induced the cell death of chickpea plants. Furthermore, our results also confirmed that vanadium 130 mg kg(-1) induced detrimental effects on chickpea plants. Additional investigation is needed to clarify the mechanistic explanations of V toxicity at the molecular level and gene expression involved in plant cell death

Raman spectroscopy for the qualitative and quantitative analysis of solid dosage forms of Sitagliptin

International audienceTo demonstrate the potential of Raman spectroscopy for the qualitative and quantitative analysis of solid dosage pharmacological formulations, different concentrations of Sitagliptin, an Active Pharmaceutical Ingredient (API) currently prescribed as an anti-diabetic drug, are characterised. Increase of the API concentrations induces changes in the Raman spectral features specifically associated with the drug and excipients. Principal Component Analysis (PCA) and Partial Least Squares Regression (PLSR), were used for the qualitative and quantitative analysis of the spectral responses. A PLSR model is constructed which enables the prediction of different concentrations of drug in the complex excipient matrices. During the development of the prediction model, the Root Mean Square Error of Cross Validation (RMSECV) was found to be 0.36 mg and the variability explained by the model, according to the (R2) value, was found to be 0.99. Moreover, the concentration of the API in the unknown sample was determined. This concentration was predicted to be 64.28/180 mg (w/w), compared to the 65/180 mg (w/w). These findings demonstrate Raman spectroscopy coupled to PLSR analysis to be a reliable tool to verify Sitagliptin contents in the pharmaceutical samples based on calibration models prepared under laboratory conditions

Vanadium toxicity in chickpea (Cicer arietinum L.) grown in red soil: Effects on cell death, ROS and antioxidative systems

The agricultural soil contaminated with heavy metals induces toxic effects on plant growth. The present study was conducted to evaluate the effects of vanadium (V) on growth, H2O2 and enzyme activities, cell death, ion leakage, and at which concentration; V induces the toxic effects in chickpea plants grown in red soil. The obtained results indicated that the biomass (fresh and dry) and lengths of roots and shoots were significantly decreased by V application, and roots accumulated more V than shoots. The enzyme activities (SOD, CAT, and POD) and ion leakage were increased linearly with increasing V concentrations. However, the protein contents, and tolerance indices were significantly declined with the increasing levels of V. The results about the cell death indicated that the cell viability was badly damaged when plants were exposed to higher V, and induction of H2O2 might be involved in this cell death. In conclusion, all the applied V levels affected the enzymatic activities, and induced the cell death of chickpea plants. Furthermore, our results also confirmed that vanadium 130 mg kg(-1) induced detrimental effects on chickpea plants. Additional investigation is needed to clarify the mechanistic explanations of V toxicity at the molecular level and gene expression involved in plant cell death