This paper examines risk-averse and risk-seeking investor preferences for oil spot and futures prices by using the mean-variance (MV) criterion and stochastic dominance (SD) approach. The MV findings cannot distinguish between the preferences of spot and futures markets. However, the SD tests...

This study attempts to investigate the evolution of dynamic linkages and volatility spillover between the five countries of the Association of Southeast Asian Nations (ASEAN-5) stock markets and China's economic activities. By using the movements and structural breaks of the time-varying...

This study examines the tripartite relationship between financial development, trade openness and economic growth in Ghana, Nigeria and South Africa for the 1980-2014 period. The study reveals a long-run causal relationship between financial development, trade openness and economic growth,...

This paper contributes to the literature concerning the natural resource curse by exploring the role of banking development in reducing the resource curse in a natural resource-based country, Yemen. Using time series data over the period 1980-2012, we find that natural resource dependence is...

This paper re-examines the performance of REITs, stocks, and fixed-income assets based on the preferences of risk-averse and risk-seeking investors using mean-variance and stochastic dominance approaches. Our findings indicate no first-order stochastic dominance and no arbitrage opportunity...

The recent vote by Britain to quit European Union (EU) and the political pressures in some member countries to exit EU necessitates a critical evaluation of the long-run economic benefits of economic integration or union to member countries. Consequently, this paper examines recent empirical...

We examine the ability of intergroup contact to ameliorate the effect of in-group bias on economic outcomes. Specifically, we employ randomized experiments to test whether actual and imagined contact is effective in reducing prejudice between indigenous Malawian shopkeepers (in-group), and their...

It is well known that height is positively associated with earnings. Based on individual level data, this paper investigates the channels through which height influences income in China. Our first key finding is that taller people are more likely to become members of the Communist Party,...

Using data from the UK Community Life Survey, we present the first study to examine the relationship between heterogeneity in one’s friendship network and subjective wellbeing. We measure network heterogeneity by the extent to which one’s friends are similar to oneself with regard to...

We study the potential for pleasant and cooperative contact to reduce preconceived prejudice between religious groups in the context of India. We randomly assign Hindus and Muslims into groups, in which they interact over the course of a week-long vocational training program. We find that...