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Brückner, Markus - In: Journal of risk and financial management : JRFM 14 (2021) 10, pp. 1-14

I examine the relationship between democracy and the perceived risk of corruption in a panel of 130 countries. My panel … model controls for country fixed effects and enables the estimation of a within-country relationship between democracy and … corruption. My main finding is that democracy significantly reduces the risk of corruption, but only in countries where ethnic …

Persistent link: https://www.econbiz.de/10012792435

Natural resources and civil conflict : the role of military expenditures

Arezki, Rabah; Brückner, Markus - In: Journal of risk and financial management : JRFM 14 (2021) 12, pp. 1-26

Military expenditures significantly affect the relationship between the risk of civil conflict outbreak and natural resources. We show that a significant positive effect of natural resource rents on the risk of civil conflict outbreak is limited to countries with low military expenditures. In...

Persistent link: https://www.econbiz.de/10012798448

Money decentralization under direct democracy procedures : the case of classical Athens

Economou, Emmanouil Marios L.; Kyriazēs, Nikos K.; … - In: Journal of risk and financial management : JRFM 14 (2021) 1/30, pp. 1-17

direct democracy procedures and the related institutional setup, a monetary system without a Central Bank may function … the Athenian drachma become the leading international currency in the Mediterranean world (iii) how and towards which …

Persistent link: https://www.econbiz.de/10012417513

Asymmetric realized volatility risk

Allen, David E.; McAleer, Michael; Scharth, Marcel - In: Journal of risk and financial management : JRFM 7 (2014) 2, pp. 80-109

In this paper, we document that realized variation measures constructed from high-frequency returns reveal a large degree of volatility risk in stock and index returns, where we characterize volatility risk by the extent to which forecasting errors in realized volatility are substantive. Even...

Persistent link: https://www.econbiz.de/10011553303

Modelling the effects of oil prices on global fertilizer prices and volatility

Chen, Ping-yu; Chang, Chia-ling; Chen, Chi-chung; … - In: Journal of risk and financial management : JRFM 5 (2012) 1, pp. 78-114

The main purpose of this paper is to evaluate the effect of crude oil price on global fertilizer prices in both the mean and volatility. The endogenous structural breakpoint unit root test, ARDL model, and alternative volatility models, including GARCH, EGARCH, and GJR models, are used to...

Persistent link: https://www.econbiz.de/10011555888

A mean-variance diagnosis of the financial crisis : international diversification and safe havens

Eptas, Alexander; Leger, Lawrence A. - In: Journal of risk and financial management : JRFM 3 (2010) 1, pp. 97-117

Colombia we speculate that this reveals the impact on world financial markets of the demand for cocaine. …

Persistent link: https://www.econbiz.de/10011556006

Financial distress comparison across three global regions

Platt, Harlan D.; Platt, Marjorie B. - In: Journal of risk and financial management : JRFM 1 (2008) 1, pp. 129-162

Globalization has precipitated movement of output and employment between regions. We examine factors related to corporate financial distress across three continents. Using a multidimensional definition of financial distress we test three hypotheses to explain financial distress using historical...

Persistent link: https://www.econbiz.de/10011556293

Cryptocurrencies, diversification and the COVID-19 pandemic

Allen, David E. - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-25

This paper features an analysis of cryptocurrencies and the impact of the COVID-19 pandemic on their effectiveness as a portfolio diversification tool and explores the correlations between the continuously compounded returns on Bitcoin, Ethereum and the S&P500 Index using a variety of parametric...

Persistent link: https://www.econbiz.de/10013161685

Dependence structures between sovereign credit default swaps and global risk factors in BRICS countries

Rikhotso, Prayer M.; Simo-Kengne, Beatrice D. - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-22

This study investigates the tail dependence structures of sovereign credit default swaps (CDSs) and three global risk factors in BRICS countries using a copula approach, which is popular for capturing the “true” tail dependence based on the “distribution-adjusted” joint marginals. The...

Persistent link: https://www.econbiz.de/10013161740

Impact of financial innovation and institutional quality on financial development in emerging markets

Alawi, Suha Mahmoud; Abbassi, Wajih; Saqib, Rukhma; … - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-11

sample of 17 emerging markets based on the availability of data from the period 1990-2020. Data were extracted from the World …

Persistent link: https://www.econbiz.de/10013163539

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