Journal of Economic Studies

Retraction notice: Asymmetry in the prices of crude oil and diesel and gasoline prices in Brazil

Retraction notice: Assessing the resilience of the US banking sector under a macroeconomic stress testing

Investment and dividend dynamics within business groups: evidence from Iran

The purpose of our study is to examine the functioning of internal capital markets (ICMs) within business groups in Iran. We document how the ultimate owner's economic interests…

Crowdfunding, asymmetric information and pecking order

Crowdfunding is a rapidly growing phenomenon in theory and practice. A significant gap exists between theoretical literature and empirical evidence regarding the volumes of…

Can the optimal fiscal policy counteract corporate tax evasion without harming job creation?

This paper studies the relation between corporate tax evasion, job creation and optimal fiscal policy. Job creation depends on firms’ profits since firms open (“create”) new jobs…

Horizontal and vertical foreign direct investment linkages, absorptive capacity and domestic investment: evidence from Indonesian plant-level data

This study examines the effect of horizontal and vertical foreign direct investment (FDI) linkages on the investment decisions of domestic plants. It explores this link for plants…

How do sectoral elasticities affect the transmission of monetary shocks?

The presence of heterogeneity in price stickiness has been previously shown to be the main determinant of the real effects of nominal shocks. The paper presents theoretical…

Forecasting exchange rates after 2021 Myanmar coup: Does a parallel market exchange rate matter?

The purpose of this study is to evaluate the use of a parallel market mechanism in forecasting the exchange rate of Myanmar Kyat (MMK) after the 2021 Myanmar coup. This paper…

Gender wage gap among highly educated workers: some evidence from Spain

The study aims to estimate wage models controlled for sample selection bias and apply the traditional Blinder–Oaxaca decomposition to examine the gender wage gap.

Female leadership and financial sustainability of MFIs: the moderating role of female borrowers

The purpose of this study was to investigate whether the percentage of female borrowers moderate the effect of female leadership on financial sustainability of microfinance…

Assessing the non-linear impact of fiscal balance on current account balance in major SAARC economies: evidence from method of moments quantile regression

In the backdrop of persistent internal and external imbalances, the nexus between fiscal imbalance and current account imbalance remains a subject of debate among economists…

Family affairs or Government's duty? The tax morality of a mobile society

This paper aims to shed light on the relationship between intergenerational labor mobility and tax morale among European citizens, given the relatively limited evidence on the…

Big mac affordability and income inequality across the European Union

The primary purpose of this study is to assess economic inequality within the European Union (EU) using Big Mac Affordability (BMA) as a metric. By comparing the BMA across…

Is monopoly truly effective for producers?

The paper is devoted to modeling a pricing policy of competitive firms in a “closed” economy framework.

Urbanization and growth nexus: do international financial flows matter?

This study examines the impact of urbanization on growth and the role of international financial flows in the urbanization-growth nexus.

Economic freedom and its subcomponents: effects on Islamic bank performance

This paper aims to examine the profitability of Islamic banks benefits from economic freedom and its subcomponents.

Estimation of green total factor productivity and green efficiency in Jordan based on the Super-SBM model

The study aims to estimate Green Total Factor Productivity (GTFP) and green efficiency in Jordan.

The impact of COVID on the rate of return to schooling among US industries

This empirical study aims to examine the COVID impact on the rate of return to schooling in 20 US industries.

Analyzing the ICT and economic growth relation in OECD countries

This study aims to examine the relationship between information and communication technology (ICT) and economic growth in all organization for economic co-operation and…

Assessing the sovereign-bank interdependence in Eurozone core countries

The aim of this study is to determine whether financial contagion is transmitted through macroeconomic fundamentals, not only in weaker countries but also in strong European…

Introducing ESG controversies as the polluting factor of banks’ activity: a nonparametric efficiency approach

Whether environmental, social and governance (ESG) factors are a curse or a blessing in the run for performance is still a burning issue. This is all the more true for banks, as…

An empirical analysis of climate transition: a global outlook of agriculture productivity

This study has empirically investigated the impacts of climate change on agricultural productivity worldwide, considering the ranking of agriculture productivity. Additionally…

EU membership and income inequality: escaping the single and binary treatment approach

In this paper, the impact of the 2004 European Union accession on income inequalities within New Member States is analyzed.

Does remaining in Russia affect analysts’ sentiment?

Since February 2022, the conflict between Ukraine and Russia has significantly influenced global financial markets, altering investor behavior and increasing market volatility…

Foreign direct investment, economic growth and environmental quality in Africa: revisiting the pollution haven and environmental Kuznets curve hypotheses

This study examines the environmental effects of foreign direct investment (FDI) inflows and economic growth by revisiting the pollution haven and EKC hypotheses in the context of…

Effects of Israel-Iran conflict: insights on global stock indices and currencies

This study examines the immediate impact of the Israel-Iran conflict on global stock markets and currency pairs, focusing on how these effects vary by market maturity and…

An integrated Bayesian-principal component approach to macroeconomic resilience: the case of the Central Europe and Baltic macro-region

In the fashion of Martin (2012), we develop an innovative application to a standard, well-grounded methodology to investigate resilience in two critical dimensions: recovery and…

Effects of adverse geopolitical risk on price bubbles contagion from European natural gas prices to international energy prices

The recent Russia–Ukraine conflict highlights the geopolitical importance of natural gas, especially in Europe. In this light, this study examines the impact of the Russia–Ukraine…

Elementary education outcome efficiency of Indian state governments: a generalized stochastic frontier approach

This paper aims to analyze the technical efficiency of Indian State governments in providing elementary education (EE) and to identify the determinants of their technical…

Digital finance and MSME performance in India: evidence from World Bank Enterprise Survey data

The impact of digitalisation on smaller firms remains sparsely studied across emerging economies. The paper aims to examine the relationship between digital adoption and multiple…

Cross-border investment, international consolidation and reversal of US stock exchanges: the gift and the curse of being too big, too liquid and too visible

This paper investigates the distinctive role of the US stock exchanges in the process of international consolidation. Besides the USA's leading role in financial markets, the…

What drives household credit in France?

Who applies for credit, who is credit constrained and who receives credit refusal in France? To address these questions and explore the determinants of certain household credit…

Cross-border ripples: investigating stock market responses to Israel-Hamas conflict in trading partner nations using event study method

The study will add to the current discourse on the Israel-Hamas conflict by examining the impact of the war on the stock markets of trading partners. Stock market returns…

Financial stability and financial inclusion: a non-linear nexus

The purposes of the paper are as follows: (1) Analysing the effect of financial inclusion on financial stability. (2) Examining whether financial inclusion non-linearily impacts…

Why does the nexus between finance and income inequality break in times of financialisation? Empirical evidence for the European Union countries

This paper aims to contribute to the current debate between the mainstream and the non-mainstream literature on the effect of the growth of finance on the level of income…

The effect of modern information technology on corporate payout policy. Evidence from EDGAR implementation

This study uses the Electronic Data Gathering Analysis and Retrieval (EDGAR) implementation as an information shock to examine its effect on corporate payout policy.

Trust in the pension system and housing investment

This research contributes to the existing literature on the connection between trust and investment activities by exploring the effect of trust in the retirement system on…

Exploring the time-varying predictability of global financial instability over the last two decades: the influence of climate change news

The burgeoning literature on climate-related finance suggests that climate change influences financial markets. Building on this foundation, the present study aims to investigate…

What drives the price behavior of US sustainable stocks?

This paper aims to identify the key drivers of US sustainable stock price movements in both the short and long term, deploying a rich collection of variables corresponding to…

The intersection between traditional roles and a fragmented labor market: a propensity score matching analysis of gender wage gap in Ecuador

This study aims at estimating the gender wage gap in Ecuador, and its evolution over the last decade and a half, exploring its heterogeneity through different working conditions…

Deposit insurance and financial inclusion

Deposit insurance activities aimed at achieving financial stability and depositor protection often align with financial inclusion programmes of other financial safety-net…

Connectivity among the returns of sectoral indices of the Brazilian capital market

As specific objectives, we intend to: (1) measure the connectivity between the spillovers of returns from the financial and nonfinancial sectors of the Brazilian stock market; (2…

Nonlinear impact of financial inclusion on tax revenue: evidence from the Monte-Carlo simulation algorithm under the Bayesian approach

This article aims to study the nonlinear effect of financial inclusion on tax revenue of 21 low financial development countries (LFDCs) and 22 high financial development countries…

Factors affecting the green economy: the mediating role of foreign direct investment

The objective of this study is to examine the various factors that exert an influence on the green economy. This study also investigates the impact of foreign direct investment…

Revisiting the interest rate-investment nexus in India: fresh perspective from non-parametric analysis

It is generally believed that business spending on capital expenditure tends to decrease as interest rates rise, and vice versa, this is not always the case. The previous…

Socio-economic dimensions and human centricity in Industry 5.0: a study on manufacturing sectors in central and Eastern European economies

This study aims to quantify the concept of Industry 5.0, with a focus on human-centricity in the manufacturing sector.

Ethnic minorities and income inequality: the Albanian community in Italy

This study explores whether ethnic minorities exhibit varying levels of income inequality compared to the host population.

Examining the impact of geopolitical risk on foreign remittances: evidence from top remittances receiving countries

This study investigates the impact of geopolitical risk (GPR) on foreign remittances (FRs) for the top remittance-receiving countries.

Climate change-stock return volatility nexus in advanced economies: the role of technology shocks

Given the systemic nature of climate change, there are many interdependencies between its primary components and feedback loops, emphasising the need to simultaneously consider…

Green bonds forecasting: evidence from pre-crisis, Covid-19 and Russian–Ukrainian crisis frameworks

Without precedent, green bonds confront, for the first time since their emergence, a twofold crisis context, namely the Covid-19-Russian–Ukrainian crisis period. In this context…

Are the synergy of stable energy supply, robust financial service and strong economic growth achievable? Evidence from 134 countries

This study tests convergence in energy diversification, per-capita income and financial development and explores their interrelationships.

Competency and efficacy of energy futures: empirical investigation from emerging economy

The purpose of this study is to analyze the price discovery and market efficiency of energy futures traded in India. The study also examines the volatility spillover effect…

Sustainable investing in extreme market conditions: doing well while doing good

The aim of this study is to identify environmental, social and governance (ESG)-focused funds that can effectively uphold ethical principles while also delivering competitive…

War! Good news for defense firms? Analysis of the impact of Russia–Ukraine conflict

This paper examines the short-term market impact of the beginning of the military conflict between Russia and Ukraine (February 24, 2022) on the world’s largest defense firms.

The role of Covid-19 policy responses on GVC participation: the Turkish experience

This paper explores the association between a variety of trade and government policy measures of both home and trade partners introduced during the Covid-19 pandemic within the…

How do financial inclusion and bank stability explain agricultural productivity in Sub-Saharan Africa?

This study aims to examine the impact of financial inclusion and bank stability on agricultural productivity in Sub-Saharan Africa (SSA).

Competition law enforcement and digital platforms non-price competition

Explore the effects of competition policy on an important competitive dimension of digital platforms, namely quality.

Does government spending cointegrate with bank lending? Evidence from Eurozone panel data

Our purpose is the examination of the effects of fiscal policy on private lending for the Eurozone countries. The emphasis is on the identification of the time path of government…

Is cryptocurrency a new digital gold? Evidence from the macroeconomic shocks in selected emerging economies

The purpose of the study is to analyze the hedging abilities of the cryptocurrencies vis-à-vis gold against macroeconomic shocks in four emerging economies, India, China, Brazil…

The impact of fiscal opacity on business confidence: empirical investigation from an emerging economy

The relevance of transparency related to public finances is considered fundamental for good economic policy management. An environment of greater fiscal transparency allows the…

An empirical analysis on immigrants and price elasticity in the import demand function

The purpose of this paper is to explore the empirical relationship between the share of immigrants and the price elasticity of import demand.

Financial inclusion and sustainable development of banks: the place of organization of Islamic cooperation (OIC) in emerging markets

This study examines the impact of financial inclusion on the corporate sustainability of banks in both Organization of Islamic Cooperation (OIC) and non-OIC emerging economies…

The chronic illness of poverty: the effects of microfinance on the severity of poverty and the cost of its eradication

This paper investigates the impact of microfinance on poverty gap which is the shortfall in income or consumption expenditures below $1.90, $3.20 and $5.50 per day. The paper’s…

How does governance quality affect the shadow economy-sustainable development nexus? New insights from a dynamic threshold analysis

The purpose of this study is to assess the impact of the shadow economy on three sustainable development indicators while considering the moderating effect of the governance…

Assessing the determinants of human development in OECD economies: evidence from labor productivity and investment decisions

Development has been a long-age phenomenon from the millennium to sustainability. This is because the new millennium ushered in the episode of development in the global economy…

Examining the dynamics of risk associated with green investment in India: a study on fintech and green bonds for clean energy production

The research investigates how green bonds and Fintech contribute to advancing sustainable energy adoption in India while addressing the intricate investment risks associated with…

Does education promote risk-taking? Evidence from Vietnam

This study examines the impact of schooling on risk perceptions and the moderation role of a non-cognitive skill, locus of control.

Two-way relationship between inequality and growth within the fiscal policy channel: an empirical assessment for European countries

We investigate the role of fiscal policy, through several measures of government revenues and expenditures and redistribution, on disposable and market income inequality and…

A study on comparison of economic and scientific performances of BRICS countries

This study investigates the correlation between economic development and scientific knowledge production indicators in the BRICS countries from 2000 to 2020, highlighting the…

Impact of sub-national synchronization on the behavior of national business cycles in emerging economies with inflation targeting

The purpose of this paper is to assess sub-national business cycle (BC) synchronization's impact on national cycles in four emerging markets economies with inflation targeting…

Differential impact of money growth on inflationary outcomes: evidence from emerging markets using panel NARDL approach

The study seeks evidence on the asymmetric effects of broad money growth on inflation in the short run and long run, in the context of emerging markets and developing economies…

Beyond the basics: mapping the inflation response to fiscal deficit in India with smooth transition autoregressive model

India’s historical fiscal performance has featured elevated deficit levels. Driven by the imperative need for fiscal stimulus measures in response to the crisis, efforts toward…

Asymmetric responses of foreign investors to fiscal stress

The objective of the study is to investigate the dynamic relationship between fiscal stress (FS) shocks and foreign direct investment (FDI) in moderate FS developing countries…

Role of labor market dynamics in influencing global female labor force participation

The global non-attainment of the Sustainable Development Goal (SDG) 5 indicates the issue of rising gender inequality. Educated women shying away from the labor force is worsening…

Gauging the dynamic interlinkage level between Fintech and the global blue economy performance

We investigate connections between the development of Fintech and the blue economy from September 14th, 2020, to August 11th, 2023.

Role of ESG and private equity on environmental degradation: a nexus of opportunity and responsibility for developing and developed countries

As concerns about global warming and environmental degradation have intensified, researchers are trying to create a deeper understanding of country-specific factors that affect…

Determinants of older people labour market decision in Ghana

The purpose of this paper is to examine the prevalence of labour force participation and the factors affecting labour supply among older persons in Ghana. Both the extensive and…

Path to achieving SDG 8: do worker remittances reduce vulnerable employment?

The prevalence of high levels of vulnerable employment in developing countries poses a formidable obstacle to their progress towards achieving SDG 8. While worker remittances…

Benchmarking asset pricing models in emerging markets: evidence from Borsa Istanbul

Investors who can transfer their savings to investments in a well-regulated market benefit not only themselves but also economic development. Hence, it is crucial for fund owners…

The parental role in intergenerational educational persistence: an empirical investigation with cross-country panel data

The main aim of this study is to investigate the role of fathers and mothers in the intergenerational educational persistence for sons and daughters under two dimensions that…

Tourist perceptions of health-safety risks in a time of pandemic

The COVID-19 pandemic has induced tourism destinations to reconsider organisational aspects related to health safety measures, as perceptions of health safety may have become…

From data to decisions: enhancing financial forecasts with LSTM for AI token prices

This study aims to endeavour to decode artificial intelligence (AI)-based tokens' complex dynamics and predictability using a comprehensive multivariate framework that integrates…

Beyond borders: investigating the impact of the 2023 Israeli–Palestinian conflict on global equity markets

The present research study aims to explore the impact of the most recent Israeli–Palestinian conflict, which unfolded in October 2023, on global equity markets, including a wide…

Returns to different levels of education in Russia

Education system stimulates the development of human capital and provides informative signaling allowing to differentiate productivity of individuals. If education system is…

Does the inflow of remittances diminish unemployment? The role of political stability in MENA countries

Previous literature has investigated the connection amongst remittances, political stability and unemployment in remittance-receiving economies separately. Besides, they did not…

Assessing the resilience of the US banking sector under a macroeconomic stress testing

The increased capital requirements and the implementation of new liquidity standards under Basel III sparked various concerns among researchers, academics and other stakeholders…