Pub Date : 2022-12-01DOI: 10.57017/jorit.v1.2(2).02
I. Raifu, A. E. Ogbonna
The study assessed the hedge or safe-haven property of five cryptocurrencies for stocks of three COVID-19 worst-hit African countries. We address two main concerns bordering on the predictive capacity of African stocks for cryptocurrency returns and the safe-haven property that cryptocurrencies could offer to African stocks. A distributed lag model, with explicitly incorporated salient statistical features, was adopted based on its efficient management of parameter proliferation and estimation biases. We ascertained the model’s in-sample predictability and evaluate its out-of-sample forecasts performance in comparison with the historical average model, using Clark and West statistics. While African stocks significantly predicted cryptocurrency returns, the cryptocurrency-stocks nexus revealed the diversifier and safe-haven property of cryptocurrencies for African stocks in periods of normalcy and crisis/pandemic, respectively. Our predictive model outperformed the historical average model in the out-of-sample. Our results may be sensitive to cryptocurrency-stocks nexus and sample periods but not the out-of-sample forecast horizons
{"title":"Safe-Haven Effectiveness of Cryptocurrency: Evidence from Stock Markets of COVID-19 Worst-Hit\u0000 African Countries","authors":"I. Raifu, A. E. Ogbonna","doi":"10.57017/jorit.v1.2(2).02","DOIUrl":"https://doi.org/10.57017/jorit.v1.2(2).02","url":null,"abstract":"The study assessed the hedge or safe-haven property of five cryptocurrencies for stocks of\u0000 three COVID-19 worst-hit African countries. We address two main concerns bordering on the\u0000 predictive capacity of African stocks for cryptocurrency returns and the safe-haven property\u0000 that cryptocurrencies could offer to African stocks. A distributed lag model, with explicitly\u0000 incorporated salient statistical features, was adopted based on its efficient management of\u0000 parameter proliferation and estimation biases. We ascertained the model’s in-sample\u0000 predictability and evaluate its out-of-sample forecasts performance in comparison with the\u0000 historical average model, using Clark and West statistics. While African stocks significantly\u0000 predicted cryptocurrency returns, the cryptocurrency-stocks nexus revealed the diversifier and\u0000 safe-haven property of cryptocurrencies for African stocks in periods of normalcy and\u0000 crisis/pandemic, respectively. Our predictive model outperformed the historical average model in\u0000 the out-of-sample. Our results may be sensitive to cryptocurrency-stocks nexus and sample\u0000 periods but not the out-of-sample forecast horizons\u0000","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116935065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.57017/jorit.v1.1(1).05
Sayef Bakari
The study aims to investigate the impact of patent and digitalization on economic growth in Romania. Our data was retrieved from the World Development Indicators database (World Bank 2021) from the period 1990-2020. Empirical fundings indicated that digitalization and patent have a positive effect on economic growth. From these perspectives, the Romanian authorities should take seriously the patent and the potential of digitalization which can help the economy to be modernized, diversified, and robust to create new jobs and to find new markets and new strategic partners, and new opportunities.
{"title":"The Impact of Digitalization and Patent on Economic Growth in Romania","authors":"Sayef Bakari","doi":"10.57017/jorit.v1.1(1).05","DOIUrl":"https://doi.org/10.57017/jorit.v1.1(1).05","url":null,"abstract":"The study aims to investigate the impact of patent and digitalization on economic growth in\u0000 Romania. Our data was retrieved from the World Development Indicators database (World Bank 2021)\u0000 from the period 1990-2020. Empirical fundings indicated that digitalization and patent have a\u0000 positive effect on economic growth. From these perspectives, the Romanian authorities should\u0000 take seriously the patent and the potential of digitalization which can help the economy to be\u0000 modernized, diversified, and robust to create new jobs and to find new markets and new strategic\u0000 partners, and new opportunities.\u0000","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"109 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114407884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.57017/jorit.v1.2(2).03
Raluca Maran
Lack of access to finance constitutes a major setback to the development of the micro-, small and medium-sized enterprise (MSME) sector in the countries of the Association of Southeast Asian Nations (ASEAN). MSMEs are confronted with stringent funding constraints in traditional lending and capital markets, in particular at the early stages of their activity. Demand and supply of capital to MSMEs thus entails more complex issues compared to the larger firms. This paper presents a number of policy actions that have the potential to mitigate the financing challenges faced by MSMEs in ASEAN at the start-up stage by enhancing the potential of alternative funding sources such as business angel investment, crowdfunding, venture capital investment and SME stock markets.
{"title":"Improving Micro-, Small and Medium Enterprise’s Access to Start-up Financing in ASEAN\u0000 Countries","authors":"Raluca Maran","doi":"10.57017/jorit.v1.2(2).03","DOIUrl":"https://doi.org/10.57017/jorit.v1.2(2).03","url":null,"abstract":"Lack of access to finance constitutes a major setback to the development of the micro-,\u0000 small and medium-sized enterprise (MSME) sector in the countries of the Association of Southeast\u0000 Asian Nations (ASEAN). MSMEs are confronted with stringent funding constraints in traditional\u0000 lending and capital markets, in particular at the early stages of their activity. Demand and\u0000 supply of capital to MSMEs thus entails more complex issues compared to the larger firms. This\u0000 paper presents a number of policy actions that have the potential to mitigate the financing\u0000 challenges faced by MSMEs in ASEAN at the start-up stage by enhancing the potential of\u0000 alternative funding sources such as business angel investment, crowdfunding, venture capital\u0000 investment and SME stock markets.\u0000","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122765096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.57017/jorit.v1.1(1).03
S. Chatterjee
In this paper, it is about the axiomatic basis of rational choice theory - the theory that is behind making rational choice and decisions. To make rational choices, we would require thinking rationally and understanding the reason and logic behind what makes a choice rational, and how we need to choose rationally. Decisions are made under various circumstances, i.e., under risk, and often under compulsion. In social choice theory, decisions are made by different types of decision making entities, i.e., committees, groups, individuals and collective judgments by various types of organizations, etc. This paper highlights these issues and addresses the fundamental tenets of making rational choices by examining and following the previous workings of experts on this field. As such, it introduces a novel concept and the idea of Social Choice Rationality in choosing what’s rational.
{"title":"Choice That’s Rational","authors":"S. Chatterjee","doi":"10.57017/jorit.v1.1(1).03","DOIUrl":"https://doi.org/10.57017/jorit.v1.1(1).03","url":null,"abstract":"In this paper, it is about the axiomatic basis of rational choice theory - the theory that\u0000 is behind making rational choice and decisions. To make rational choices, we would require\u0000 thinking rationally and understanding the reason and logic behind what makes a choice rational,\u0000 and how we need to choose rationally. Decisions are made under various circumstances, i.e.,\u0000 under risk, and often under compulsion. In social choice theory, decisions are made by different\u0000 types of decision making entities, i.e., committees, groups, individuals and collective\u0000 judgments by various types of organizations, etc. This paper highlights these issues and\u0000 addresses the fundamental tenets of making rational choices by examining and following the\u0000 previous workings of experts on this field. As such, it introduces a novel concept and the idea\u0000 of Social Choice Rationality in choosing what’s rational.\u0000","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128905213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.57017/jorit.v1.2(2).05
Riana Maria Gruescu
The progress of a society depends on and can only be sustained through permanent education, which implies the acquisition of new knowledge, and in this way human capital can be exploited to the maximum. Through education, any individual acquires the ability to develop his potential, and in order to do this, he must undertake a process of education through which he accumulates knowledge and skills, harmoniously develops his personality, as well as shapes his character. Through education and culture, creativity, adaptability, but also other necessary qualities are developed, and as the finality of education, insertion and social integration are of particular importance for any graduate, contributing to his fulfilment from several points of view, material, spiritual, moral. The article analyses the participation in education of the Romanian population, the evolution of the teaching staff and the general expenses for education in the period 2010-2021
{"title":"Research on the Interconnections between Human Capital and the Education System in Romania","authors":"Riana Maria Gruescu","doi":"10.57017/jorit.v1.2(2).05","DOIUrl":"https://doi.org/10.57017/jorit.v1.2(2).05","url":null,"abstract":"The progress of a society depends on and can only be sustained through permanent education,\u0000 which implies the acquisition of new knowledge, and in this way human capital can be exploited\u0000 to the maximum. Through education, any individual acquires the ability to develop his potential,\u0000 and in order to do this, he must undertake a process of education through which he accumulates\u0000 knowledge and skills, harmoniously develops his personality, as well as shapes his character.\u0000 Through education and culture, creativity, adaptability, but also other necessary qualities are\u0000 developed, and as the finality of education, insertion and social integration are of particular\u0000 importance for any graduate, contributing to his fulfilment from several points of view,\u0000 material, spiritual, moral. The article analyses the participation in education of the Romanian\u0000 population, the evolution of the teaching staff and the general expenses for education in the\u0000 period 2010-2021\u0000","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115603405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.57017/jorit.v1.1(1).06
Rodrigue Tchoffo
This study proposes a new simplified technique allowing to pass from the static to the dynamic framework of computable general equilibrium models (CGEM). Emphasis is placed on the treatment of convergence which can be constant or variable. We show that in convergence with variable coefficient, the definition of an adjustment parameter is necessary and makes it possible to operate the right choice of the values which correspond to the studied economy.
{"title":"Static and Dynamic Convergence in a Recursive Dynamic Computable General Equilibrium Model:\u0000 Proposal of a Simplified Approach and Application in GAMS","authors":"Rodrigue Tchoffo","doi":"10.57017/jorit.v1.1(1).06","DOIUrl":"https://doi.org/10.57017/jorit.v1.1(1).06","url":null,"abstract":"This study proposes a new simplified technique allowing to pass from the static to the\u0000 dynamic framework of computable general equilibrium models (CGEM). Emphasis is placed on the\u0000 treatment of convergence which can be constant or variable. We show that in convergence with\u0000 variable coefficient, the definition of an adjustment parameter is necessary and makes it\u0000 possible to operate the right choice of the values which correspond to the studied economy.\u0000","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116547295","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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