315 research outputs found
Analyzing the nexus of COVID-19 and natural resources and commodities: Evidence from time-varying causality
No full textDogan, Eyup/0000-0003-0476-5177; Luni, Tania/0000-0002-7022-1920; Majeed, Muhammad Tariq/0000-0001-9374-5025Even though a few studies have focused on natural resources and commodity sectors by considering the pandemic, they have only compared their status in pre-COVID19 to post-COVID19. None of the studies has directly examined the causal relationship between the pandemic, and natural resource index and the primary commodity-related sector indices. This study fills the gap of exploring the dynamic association between them by analyzing the causal relationship between the COVID19, and natural resources index and the primary commodity-related sectors (i.e., agribusiness, energy, and metals & mining) by applying a novel time-varying causality test on daily data from January 23, 2020, to November 12, 2021. The empirical results support the presence of time-varying causality from COVID19 to natural resources, agribusiness, energy and metals & mining. The results obtained from the rolling window algorithm support causal linkages between the variables however at several points it fails to capture the dynamics of linkages between the variables which is captured by the recursive window algorithm. The outcome is robust when the pandemic is proxied by either number of cases or deaths. Similarly, the findings obtained from heteroskedastic-robust specification also validate our findings. Several policy implications are further discussed in the study
Corruption and financial intermediation in a panel of regions: cross-border effects of corruption
No full textThe importance of financial market reforms in combating corruption has been highlighted in the theoretical literature but has not been systemically tested empirically. In this study we provide a first pass at testing this relationship using both linear and non-monotonic forms of the relationship between corruption and financial intermediation. Our study finds a negative and statistically significant impact of financial intermediation on corruption. Specifically, the results imply that a one standard deviation increase in financial intermediation is associated with a decrease in corruption of 0.20 points, or 16 percent of the standard deviation in the corruption index and this relationship is shown to be robust to a variety of specification changes, including: (i) different sets of control variables; (ii) different econometrics techniques; (iii) different sample sizes; (iv) alternative corruption indices; (v) removal of outliers; (vi) different sets of panels; and (vii) allowing for cross country interdependence, contagion effects, of corruption.corruption; contagion effects; financial Intermediation; panel data
Are Clean Energy and Carbon Emission Allowances Caused by Bitcoin? A Novel Time-Varying Method
No full textMajeed, Muhammad Tariq/0000-0001-9374-5025; Dogan, Eyup/0000-0003-0476-5177; Luni, Tania/0000-0002-7022-1920;The bitcoin market has substantially grown in recent years. The researchers are exploring its various repercussions for socioeconomic and political matters; however, the literature still lacks clear evidence on how bitcoin interacts with energy and the environment. This study aims to explore the causal relationship between bitcoin, clean energy, and carbon emissions allowances by applying the novel time-varying Granger causality test on the daily data spanning from Sept 17, 2014, to October 12, 2021. The empirical findings confirm that both clean energy and emission allowances are causally associated with bitcoin. However, this causal relationship varies over time and the duration of causality is longer as suggested by the recursive evolving procedure. The outcome is robust when bitcoin is measured by the volume and the price. Furthermore, the results obtained from robustness analysis conducted through heteroskedastic consistent test also validate the findings that bitcoin causes clean energy and carbon allowance. The findings offer a platform for government officials and policy managers to improve clean energy and carbon allowance markets for sustainable development by managing and using the tools to control and regulate cryptocurrency markets
Migrant Remittances and Corruption: An Empirical Analysis
No full textThis study revisits the sources of corruption using a panel data for 122 countries. It contributes to the literature by analyzing the relationship between remittance and corruption with particular focus on analysis of distribution of dependent variable (corruption). In cross sectional and panel settings, it is found that ‘one standard deviation’ increases the remittance variable in association with an increase in corruption of 0.33 points, or 25 per cent of a standard deviation in the corruption index. It is also investigated whether greater remittances consistently increase corruption, among the most and least corrupt countries. Result of this shows that among the least corrupt countries, remittances do not appear to increase corruption but, among most corrupt countries, it significantly promotes corruption. Findings of this study are robust to different samples specifications, to regional effects and to the alternative econometric techniques
The nexus between global carbon and renewable energy sources: A step towards sustainability
No full textLuni, Tania/0000-0002-7022-1920; Tzeremes, Panayiotis/0000-0002-0746-3839; Majeed, Muhammad Tariq/0000-0001-9374-5025; Dogan, Eyup/0000-0003-0476-5177;The energy transition is at the core of sustainable development as it helps to combat global warming and climate change. Similarly, carbon markets also support the climate change mitigation. Therefore, by realizing the potential role of clean energy and carbon markets in ensuring environmental sustainability, this study analyzes the spillovers and connectedness between the environment (global carbon) and renewable energy sources (wind, solar, geothermal, biofuel, and fuel cell). The empirical analysis is conducted by applying the novel "TVP-VAR" connectedness framework of Balcilar et al. (2021) on the daily data over the period from August 1, 2014, to February 4, 2022. The findings show that solar and biofuel appear as the highest net shock transmitter among alternative renewable sources while global carbon is shown as the net receiver of shocks. The largest transmission of shocks to global carbon is observed from wind followed by solar. Although these findings support the connectedness between renewable energy and the environment, however this connectedness is influenced by economic crises such as the oil crisis and pandemic crisis. During COVID-19, the fuel cell was the highest transmitter of shocks. The results are important for policy formulation, investment, and portfolio management as they provide insights into the interconnectedness and help in boosting climate actions
E-Government, Financial Development and Economic Growth
No full textThe growing importance of e-government and financial development has captured the attention of policy makers who are determined to enhance the per capita income of a country. This study aims to present new findings of the impacts of e-government and financial development on economic growth, using a cross sectional multi-year average dataset of 147 economies across the globe. To the best of the knowledge of authors, this is the first empirical research work which determines relationship between the economic growth and e-government, with particular focus on the role of financial development in shaping this relationship. The possible problem of endogeneity using both the internal and external instruments is also addressed in this study. Empirical findings suggest that growth impact of e-government is positive and significant while the direct growth impact of financial development turns out to be insignificant. However, the positive impact of financial development is explained thorough implementation of e-government as interactive term of financial development and the e-government which turns out to be positive and significant in all regressions. Findings of this study are not sensitive to control additional variables. The study concludes that economies of the world can significantly benefit from financial development if satisfactory quality of e-government can be assured
THE effects of ageing on driving related performance
No full textAccording to one estimate, about 40 percent of the driving population will be over the age of 60by the year 2020 in the UK and currently, several hundred thousand drivers with dementia holddriving licenses. The number of motor vehicle crashes per unit distance of automobile travel is“U”-shaped, with risk increasing slightly between the ages of 55 and 60, but risk increasing witheach successive five-year interval. Some individuals who have mild dementia possess sufficientdriving skills to be designated as fit drivers. The most challenging assessment and decision for thephysician/licensing authority as regards fitness to drive lies in drivers who are questionablydemented or are in a state of very mild dementia.In the absence of a reliable standard protocol, some clinicians make judgment based on selfreporting,which has risks associated with it as lack of insight and judgment are potential commontraits of the population experiencing cognitive decline. Seldom is recourse made by healthprofessionals to on-road assessment as a first alternative as it requires a fee and such testingcenters are not readily available everywhere. This research addresses this issue of theidentification of cognitive tests that can be used to assess an individual’s ability to drive andespecially of those individuals that are questionably demented and are the most difficult toidentify. A younger and an older group consisting of 56 drivers in total were administered ninedifferent cognitive tests and two drives (Drive-I and Drive-II) on the STISIM driving simulator.The cognitive test ufov3 (involving the identification of a central target and simultaneously theradial localization of a peripheral target embedded in distracter triangles), which is the thirdsubtest of the UFOV (Useful Field of View) test showed the highest discriminating ability inseparating “poor-drivers” from “not-poor-drivers”, with 92.86 % of the drivers correctlyclassified. The next best discriminating ability in decreasing order of strength was that of dichoticlistening test, trail making test, rey-copy test and paper folding test. Also, age was found to be anexcellent discriminator of “poor-drivers” and “not-poor-drivers” with 91.07 % of the driverscorrectly classified. A composite cognitive measure consisting of the sum of all nine cognitivetests was not a better predictor than the ufov3 test alone; overall it was still an excellentdiscriminator, classifying 89.29 % of drivers correctly. The commonly recommended ClockDrawing test and the Trail Making test did not emerge as significant predictors of driving ability.A general driving skills linear model for prediction purposes was derived that explained 59 % ofthe variation in a general driving performance index with the ufov3 test, the dichotic listening testand the rey-recall test as significant predictors. Recommendations are made as to how this testshould be used to screen potentially at risk drivers
Hydraulic simulations to evaluate and predict design and operation of the Chashma Right Bank Canal
No full textIrrigation systems / Irrigation canals / Flow control / Velocity / Canal regulation techniques / Hydraulics / Simulation models / Design / Operations / Crop-based irrigation / Distributary canals / Water delivery / Policy / Protective irrigation / Water allocation / Water requirements / Sedimentation / Water distribution / Equity / Water conveyance / Pakistan / Chashma Right Bank Canal
Beberapa Isu Haraki di dalam Karya-karya Hadis Sayyid Muhammad Nuh
No full textSayyid Muhammad Nuh is a prominent ‘haraki’ figure and has produced a number of works in the field of hadith studies. He has been involved in the dakwa movement of the Muslim Brotherhood which influenced his approach in the production of his works, in terms of the ‘haraki manhaj’ and methods. Almost all the works of Sayyid Muhammad Nuh emphasized issues of dakwa and tarbiyah, whether in the field of tafsir, hadith, history and issues of the Muslims’ society. Moreover, the issues that he highlighted were practical and the application of ‘haraki’ approach in production of writings brought about significant lesson to the dakwa movement, including the ones in the field of hadith. The author presents three of his works in the field of hadith which have been among the most referred and widely read in the dakwa circle, including the dakwa movement in Malaysia. His selected works in the field of hadith are ‘Tawjihat of the Prophet `ala al-Tariq’ (Hadiths of Guidance on the Dakwa Path), ‘Manhaj al -Rasul fi Ghars Ruh al-Jihad fi Nufus Ashabih’ (The Messenger’s Approach in Inspiring Spirit of al-Jihad in the Companions), and ‘Min Akhlaq al-Nasr fi Jiyl al-Sahabah’ (Winning Attitudes in the Generation of the Companions). Through this article, the authors highlights a number of ‘haraki’ issues based on the works of Sayyid Muhammad Nuh and the important lessons that he has highlighted for the people of dakwa in facing the dakwa path, based on the hadith of the Messenger
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