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Aim: In this paper, it is argued that in complex financial systems private goods, important for the creation of a market, have to be considered in a multiple of differing property rights structures necessary for the functioning of the system. This may lead to high transaction costs and adverse...
Persistent link: https://www.econbiz.de/10014315987
Purpose: Modelling security prices seem to be an ending debate in finance literature due to no clear consensus on behavioral patterns, Knowledge of stock price movement has always been an important source of information that is much needed in asset pricing and trading strategies, The aim of this...
Persistent link: https://www.econbiz.de/10014281279
This paper explores the long-run effects of inflation on the dynamics of private sector bank credit and economic growth … private sector. Another crucial finding is that policies of financial liberalization have helped stimulate economic growth …. Reinforcing the literature on finance and growth, this study reaffirms that inflation rates are detrimental to long-run financial …
Persistent link: https://www.econbiz.de/10010385259
In this paper, we empirically investigate the causal nexus between economic growth (GDP), CO2 emissions (environmental … causality verifies that bidirectional causal connection is found between economic growth, environmental degradation (CO2 …
Persistent link: https://www.econbiz.de/10011881568
The article presents a historical review of the literature related to the empirical problem of excessive risk premium. The risk premium (the difference between the return on equities and risk-free rate) observed in financial markets cannot be reconciled with theoretical models of financial...
Persistent link: https://www.econbiz.de/10011539760
Persistent link: https://www.econbiz.de/10011540924
The volatility spillover effect between the foreign exchange and stock markets has been a major issue in economic and financial studies. In this paper, GC-MSV model was used to study the spillover effect between the foreign exchange market and the stock market after the reform of the RMB...
Persistent link: https://www.econbiz.de/10011541126
Persistent link: https://www.econbiz.de/10011544416
Analyzing social systems, particularly financial markets, using a complex network approach has become one of the most popular fields within econophysics. A similar trend is currently appearing within the econometrics and finance communities, as well. In this study, we present a...
Persistent link: https://www.econbiz.de/10011545289
Persistent link: https://www.econbiz.de/10011545446