1,720,972 research outputs found
Time-frequency domain analysis of exchange rate market integration in Southern Africa Development Community: A Hilbert-Huang Transform approach
No full textPhD (Applied Mathematics)Department of Mathematical and Computational SciencesThe desire of most African economic communities to introduce a common currency has persisted for years. As postulated by the Optimum Currency Area hypothesis, coordination of policy indicators among member countries is desirable for stable monetary union. In this regard, the integration of exchange rate markets has been studied and cited as one of the key indicators that could signal economic integration. Therefore, analysis of similarities, interdependence, and information transfer across exchange rate markets in Southern African Development Community (SADC) is a necessity to measure the extent of integration in the region. However, the intrinsic complexity of exchange rate data generation and its stylised characteristics of non-stationarity and non-linearity influence the modelling of such data in terms of the accuracy of the analysis and the embedded policy direction. In response, this thesis proposes empirical mode decomposition-based market integration analysis to address the limitations of the existing literature which fails to recognise the heterogeneity of market participants and data generation of the exchange rate in SADC.
The data employed for the thesis are the daily real exchange rates from 15 out of 16 member countries of the SADC from 3rd January, 1994 to 7th January 2019. The choice of study window and countries was based on the availability of adequate and consistent data for robust analysis and the period after South Africa, the largest economy, joined SADC. Based on the criteria, Zimbabwe was excluded from the analysis.
To achieve the purpose of this thesis, a four-step approach was used. The first step reviewed and explored the non-stationarity and non-linearity stylised facts about the data and observed that exchange series in SADC are non-stationary and non-linear. The second stage compared the performance of two Hilbert-Huang Transforms (EMD and EEMD) to decompose SADC exchange rate markets of which EEMD emerged superior. The components of the decomposed series were examined for dominance and ability to define the exchange rate trajectory in SADC. The residue of all the markets explained over 80% of the variation of the original series except Angola. The short- and long-term comovement was analysed through the analysis of the characteristics of IMFs and residues. The analysis of the IMFs and residues obtained from EEMD showed that exchange rate markets in SADC are driven by economic fundamentals and 12 out of 15 countries examined showed some level of similarity in the long-term trend.
In the third stage, EEMD-DCCA based multifrequency network was introduced to study the dynamic interdependence structure of the exchange rate markets in SADC. This was done by first decomposing all series into intrinsic mode functions using EEMD and reconstructing the series into three frequency modes: high, medium, and low frequency, and residue. The DCCA method was used to analyse the cross-correlation between the various frequencies, residues and original series. These were meant to address the non-linearity and non-stationarity in observed exchange rate data. A correlation network was formed from the cross-correlation coefficients to reveal rich information
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than would have been obtained from the original series. The results showed similarities between the nature of cross-correlation between high-frequency series mimicking the original series. There was also a significant cross-correlation of long-term trends of most SADC countries’ exchange rate markets.
The final stage proposed EEMD-Effective transfer entropy-based model to study exchange rate market information transmission in SADC at various frequencies. The combination of Ensemble Empirical Mode Decomposition (EEMD) and the Rényi effective transfer entropy techniques to investigate the multiscale information transfer helped quantify the directional flow of information at four frequency domains, high-, medium-, and low-frequencies, representing short-, medium-, and long-terms, respectively, in addition to the residue (fundamental feature). This revealed a significant positive information flow in the high frequency, but negative flow in the medium and low frequencies.
Based on the findings of this thesis we recommend that EEMD based method be used in the analysis of financial data that susceptible to non-linearity and non-stationary to elicit the time-frequency information. In terms of policy towards monetary formulation, we recommend a stepwise approach to monetary integration in SADC.NR
Financial literacy and financial planning: Implication for financial well-being of retirees
No full textThis study examines how financial literacy, financial behaviour, family support (as another source of income), number of dependents, and retirement planning influence on the financial well-being of retirees in Cape Coast Metropolis of Ghana. A cross-sectional survey strategy was employed on 400 respondents randomly selected from 1500 members of the association to analyze the effect of financial literacy, financial behaviour, family support, number of dependents and retirement planning on financial wellbeing. It then tests their hypothesized relationships with the use of Partial Least Squares (PLS), a structural equation modelling technique.
The results reveal that financial literacy, retirement planning and family support significantly impact the financial well-being of retirees. More importantly, the effect of family support and retirement planning on retirees’ financial well-being is stronger than the one of financial literacy. The findings imply that finance literacy and retirement planning should be promoted. In addition to policies aimed at bridging social cohesion and promoting family values should not be ignored the maximizing of financial well-being of retirees. The study contributes to the extant literature on financial literacy and provides evidence on the effect of financial literacy and financial planning on the financial well-being of retirees in a developing country. It has also provided support for the need of social cohesion
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
Author-wise bibliometric analysis based on entropy.
No full textAuthor-wise bibliometric analysis based on entropy.</p
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