This study examines the evolution of sustainability accounting in the sector, emphasizing a shift from environmental management to more detailed strategies focusing on environmental preservation, integrating policies and engaging stakeholders. It delves into how policies with public sector activities provide insights into common approaches for measuring and reporting sustainability. By using a combination of bibliometric and thematic analysis, this research analyzes a collection of peer-reviewed papers to identify trends and evolving topics using both quantitative and qualitative methods. The findings indicate a move towards sustainability initiatives, emphasising incorporating technological advancements to enhance sustainability measurement and reporting. Key themes like policy and governance sustainability reporting and the strategic use of technology highlight a trend towards data-driven policymaking and the crucial role of sustainable procurement in the public sector. While comprehensive, the study acknowledges limitations related to database selection and potential publication biases. It emphasizes the importance of research to address gaps and calls, for aligning sustainability reporting standards. This research adds to discussions by providing an overview of sustainability accounting practices within the public sector. It compiles a range of research to offer a comprehension of the subject, setting the stage for upcoming studies and highlighting its importance in academic exploration and real-world use.
{"title":"Trends and Insights in Sustainability Accounting in the Public Sector: Unveiling the Research Landscape","authors":"Nur Syuhada Jasni, Siti Nurhazwani Kamarudin","doi":"10.32479/ijefi.16547","DOIUrl":"https://doi.org/10.32479/ijefi.16547","url":null,"abstract":"This study examines the evolution of sustainability accounting in the sector, emphasizing a shift from environmental management to more detailed strategies focusing on environmental preservation, integrating policies and engaging stakeholders. It delves into how policies with public sector activities provide insights into common approaches for measuring and reporting sustainability. By using a combination of bibliometric and thematic analysis, this research analyzes a collection of peer-reviewed papers to identify trends and evolving topics using both quantitative and qualitative methods. The findings indicate a move towards sustainability initiatives, emphasising incorporating technological advancements to enhance sustainability measurement and reporting. Key themes like policy and governance sustainability reporting and the strategic use of technology highlight a trend towards data-driven policymaking and the crucial role of sustainable procurement in the public sector. While comprehensive, the study acknowledges limitations related to database selection and potential publication biases. It emphasizes the importance of research to address gaps and calls, for aligning sustainability reporting standards. This research adds to discussions by providing an overview of sustainability accounting practices within the public sector. It compiles a range of research to offer a comprehension of the subject, setting the stage for upcoming studies and highlighting its importance in academic exploration and real-world use.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141683216","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}
This study focuses on investors' investment decision-making and examines the influence of multiple intelligences in investment decision-making, both rational and irrational. Multiple intelligences are a group of Intelligence with its entity and domain. Gardner suggests that the human being has different individual units of intellectual functioning. He labels these units as intelligence, each with identifiable and quantifiable aptitudes. The nine intelligence types differently influence an individual's behaviour and decisions. The multiple intelligence Inventory and a questionnaire on investment decision-making were used for data collection from a hundred investors. Analysis was done with the help of Pearson's correlation, multiple regression chi-square test, and correspondence analysis. Rational decision-making is intellectual, as per the review, and it is proved here that intelligence influences rational decision-making significantly while the other is not influenced. The observed results help to get new visions of investment behaviour, including a new proof of the root causes of investment decisions.
{"title":"Relationship between Rational and Irrational Investment Decisions and Multiple Intelligence of Investors","authors":"K. N. Rathi, D. Geetha","doi":"10.32479/ijefi.16118","DOIUrl":"https://doi.org/10.32479/ijefi.16118","url":null,"abstract":"This study focuses on investors' investment decision-making and examines the influence of multiple intelligences in investment decision-making, both rational and irrational. Multiple intelligences are a group of Intelligence with its entity and domain. Gardner suggests that the human being has different individual units of intellectual functioning. He labels these units as intelligence, each with identifiable and quantifiable aptitudes. The nine intelligence types differently influence an individual's behaviour and decisions. The multiple intelligence Inventory and a questionnaire on investment decision-making were used for data collection from a hundred investors. Analysis was done with the help of Pearson's correlation, multiple regression chi-square test, and correspondence analysis. Rational decision-making is intellectual, as per the review, and it is proved here that intelligence influences rational decision-making significantly while the other is not influenced. The observed results help to get new visions of investment behaviour, including a new proof of the root causes of investment decisions.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141682187","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}
Tadios Munodawafa, Micheline Naude, Krishna K. Govender
This paper explored the factors that impact the sustainability and growth of small and medium-sized manufacturing enterprises in Botswana. A self-administered structured questionnaire was used to survey 348 owners/managers of small and medium-sized manufacturing enterprises (SMEs) in the South Eastern District of Botswana. Descriptive and inferential statistics were generated from the gathered data using the Statistical Package for Social Sciences (IBM SPSS Version 27.0). findings revealed that entrepreneurial factors, firm-specific factors and exogenous factors impacted the growth and sustainability of manufacturing firms in Botswana. In addition, government policies and guidelines, innovation and creativity, human capital development, access to finance, financial management skills and managerial skills were also confirmed as significantly contributing to the growth and sustainability of manufacturing small and medium-sized enterprises in Botswana. Key recommendations derived from these findings include the need for policymakers in the government of Botswana and private sector partners to upskill owners/managers of manufacturing enterprises on business planning, financial management, financial literacy, quality management, and market research skills. Furthermore, efforts should be accelerated to promote products manufactured in Botswana to regional and global markets.
{"title":"Assuring the Sustainability and Growth of Small and Medium-Sized Manufacturing Enterprises in Botswana: An Exploratory Study","authors":"Tadios Munodawafa, Micheline Naude, Krishna K. Govender","doi":"10.32479/ijefi.16632","DOIUrl":"https://doi.org/10.32479/ijefi.16632","url":null,"abstract":"This paper explored the factors that impact the sustainability and growth of small and medium-sized manufacturing enterprises in Botswana. A self-administered structured questionnaire was used to survey 348 owners/managers of small and medium-sized manufacturing enterprises (SMEs) in the South Eastern District of Botswana. Descriptive and inferential statistics were generated from the gathered data using the Statistical Package for Social Sciences (IBM SPSS Version 27.0). findings revealed that entrepreneurial factors, firm-specific factors and exogenous factors impacted the growth and sustainability of manufacturing firms in Botswana. In addition, government policies and guidelines, innovation and creativity, human capital development, access to finance, financial management skills and managerial skills were also confirmed as significantly contributing to the growth and sustainability of manufacturing small and medium-sized enterprises in Botswana. Key recommendations derived from these findings include the need for policymakers in the government of Botswana and private sector partners to upskill owners/managers of manufacturing enterprises on business planning, financial management, financial literacy, quality management, and market research skills. Furthermore, efforts should be accelerated to promote products manufactured in Botswana to regional and global markets.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141837971","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}
Nowadays, especially developing countries need different resources to meet their expenditures. In this context, the issue of tax amnesties maintains its place on the agenda both in the economic and political arena. The economic effects of tax amnesties are still discussed in the literature. In this study, the relationship between tax amnesties and some macroeconomic variables (tax revenues, inflation, growth) has been econometrically tested for Turkey for the period of 1980-2021. In the study, in which ARDL model was used, cointegration relationship was determined between tax amnesties, tax revenues, inflation and growth. In addition, it has been determined that tax amnesties have positive effects on growth and inflation through tax revenues in both the short and long run.
{"title":"An Econometric Research on the Economic Effects of Tax Amnesties","authors":"O. Kanca, Metin Bayrak","doi":"10.32479/ijefi.16313","DOIUrl":"https://doi.org/10.32479/ijefi.16313","url":null,"abstract":"\u0000\u0000\u0000Nowadays, especially developing countries need different resources to meet their expenditures. In this context, the issue of tax amnesties maintains its place on the agenda both in the economic and political arena. The economic effects of tax amnesties are still discussed in the literature. In this study, the relationship between tax amnesties and some macroeconomic variables (tax revenues, inflation, growth) has been econometrically tested for Turkey for the period of 1980-2021. In the study, in which ARDL model was used, cointegration relationship was determined between tax amnesties, tax revenues, inflation and growth. In addition, it has been determined that tax amnesties have positive effects on growth and inflation through tax revenues in both the short and long run.\u0000\u0000\u0000","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141683914","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}
Ilda Kampo, Tetiana Kulinich, Аndrii Ivanov, N. Biletska, Hanna Mashika
This research investigates into the significant role of financial and credit regulations in promoting investments within Ukraine's tourism sector, with a specific emphasis on the hotel and restaurant industry. By integrating mathematical modelling and empirical data analysis, the study uncovers how regulatory environments and credit accessibility jointly influence investment decisions. The development of a differential equation model quantitatively reveals that measures aimed at regulatory simplification and enhancing credit conditions are closely linked with increased investment levels. It identifies critical thresholds for regulatory simplification and credit availability, where indices exceeding 0.45 and 0.55, respectively, are associated with substantial growth in investment rates. This assertion is substantiated by empirical evidence from a survey of 250 industry stakeholders, highlighting the significant positive effects of these regulatory and financial adjustments on investment intentions. The findings highlight the necessity of precise financial and credit regulatory reforms to improve Ukraine's tourism investment climate. The practical significance of this research lies in its potential to guide policy formulation aimed at unlocking the investment potential of Ukraine's tourism sector, ensuring its growth and sustainability in the global context.
{"title":"Financial and Credit Regulation as a Tool for Attracting Investments in Tourism and the Hotel and Restaurant Business of Ukraine","authors":"Ilda Kampo, Tetiana Kulinich, Аndrii Ivanov, N. Biletska, Hanna Mashika","doi":"10.32479/ijefi.16203","DOIUrl":"https://doi.org/10.32479/ijefi.16203","url":null,"abstract":"This research investigates into the significant role of financial and credit regulations in promoting investments within Ukraine's tourism sector, with a specific emphasis on the hotel and restaurant industry. By integrating mathematical modelling and empirical data analysis, the study uncovers how regulatory environments and credit accessibility jointly influence investment decisions. The development of a differential equation model quantitatively reveals that measures aimed at regulatory simplification and enhancing credit conditions are closely linked with increased investment levels. It identifies critical thresholds for regulatory simplification and credit availability, where indices exceeding 0.45 and 0.55, respectively, are associated with substantial growth in investment rates. This assertion is substantiated by empirical evidence from a survey of 250 industry stakeholders, highlighting the significant positive effects of these regulatory and financial adjustments on investment intentions. The findings highlight the necessity of precise financial and credit regulatory reforms to improve Ukraine's tourism investment climate. The practical significance of this research lies in its potential to guide policy formulation aimed at unlocking the investment potential of Ukraine's tourism sector, ensuring its growth and sustainability in the global context.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141681005","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}
Áureo Manuel, Rui Dias, Rosa Galvão, Miguel Varela
Given the global pandemic in 2020 and the Russian invasion of Ukraine in 2022, there is renewed interest in understanding the integration between the Dow Jones (United States), Amman SE General (Jordan), BLSI (Lebanon), EGX 30 (Egypt), ISRAEL TA 125 (Israel), MASI (Morocco), MOEX (Russia) stock indices and the precious metals Gold Bullion LBM, Silver, Handy & Harman, London Platinum, in the period from 1 January 2018 to 23 November 2023. The study aims to address two key questions: i) Have the events of 2020 and 2022 influenced the integration between the capital markets of MENA countries and precious metals? ii) In the case of a significant increase in integration, will this imply a trend towards efficiency or inefficiency in the markets analysed? The results of the cointegration tests show an increase in integrations between the Tranquil and Stress subperiods; for example, platinum rose from zero integrations to 4, being the market most affected by the events of 2020 and 2022, the MOEX increased from 3 to 6 integrations, the Dow Jones index rose from 1 to 3 integrations, the Amman SE General from 1 to 2 integrations. On the other hand, the ISRAEL TA 125 index decreased from 5 integrations in the Calm period to 1 integration during the Stress period. The EGX also decreased from 2 integrations to one integration, the MASI from three to zero integrations, and gold from 1 integration to zero. The BLSI stock index maintained its 1-1 level of integrations, while silver also followed the same 2-2 trend. These results do not allow acceptance of the first research question since it was found that there were increases/decreases in integrations during the 2020 and 2022 events. The DFA slopes were estimated to answer the second research question since most markets showed significant persistence. However, it was found that this persistence did not coincide with an increase/decrease in the level of integration between the markets analysed. Given these results, the second research question was also partially rejected. In conclusion, the results of this study have significant implications for international investors operating in the financial markets of MENA countries.
{"title":"Analysing Financial Market Integration between Stock and Precious Metals Indices","authors":"Áureo Manuel, Rui Dias, Rosa Galvão, Miguel Varela","doi":"10.32479/ijefi.16307","DOIUrl":"https://doi.org/10.32479/ijefi.16307","url":null,"abstract":"Given the global pandemic in 2020 and the Russian invasion of Ukraine in 2022, there is renewed interest in understanding the integration between the Dow Jones (United States), Amman SE General (Jordan), BLSI (Lebanon), EGX 30 (Egypt), ISRAEL TA 125 (Israel), MASI (Morocco), MOEX (Russia) stock indices and the precious metals Gold Bullion LBM, Silver, Handy & Harman, London Platinum, in the period from 1 January 2018 to 23 November 2023. The study aims to address two key questions: i) Have the events of 2020 and 2022 influenced the integration between the capital markets of MENA countries and precious metals? ii) In the case of a significant increase in integration, will this imply a trend towards efficiency or inefficiency in the markets analysed? The results of the cointegration tests show an increase in integrations between the Tranquil and Stress subperiods; for example, platinum rose from zero integrations to 4, being the market most affected by the events of 2020 and 2022, the MOEX increased from 3 to 6 integrations, the Dow Jones index rose from 1 to 3 integrations, the Amman SE General from 1 to 2 integrations. On the other hand, the ISRAEL TA 125 index decreased from 5 integrations in the Calm period to 1 integration during the Stress period. The EGX also decreased from 2 integrations to one integration, the MASI from three to zero integrations, and gold from 1 integration to zero. The BLSI stock index maintained its 1-1 level of integrations, while silver also followed the same 2-2 trend. These results do not allow acceptance of the first research question since it was found that there were increases/decreases in integrations during the 2020 and 2022 events. The DFA slopes were estimated to answer the second research question since most markets showed significant persistence. However, it was found that this persistence did not coincide with an increase/decrease in the level of integration between the markets analysed. Given these results, the second research question was also partially rejected. In conclusion, the results of this study have significant implications for international investors operating in the financial markets of MENA countries.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141683737","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}
This study aims to test the existence of a reciprocal relationship between taxpayer compliance and governance quality. From the first model with governance quality as a mediating variable, it is proven that it can mediate the level of taxpayer knowledge so that it will be able to strengthen the level of taxpayer compliance further through governance quality. However, governance quality cannot be a mediating variable for tax morale. From the second model, with taxpayer compliance as the mediating variable, it is proven that it can mediate the level of taxpayer morale so that the role of taxpayer compliance further strengthens the level of governance quality. However, for tax knowledge, the role of tax compliance cannot be a mediating variable.
{"title":"Reciprocal Relationship between Taxpayer’s Compliance and Governance Quality","authors":"Indah Masri, Tryas Chasbiandani, Diandra Kamila Rasyid, Nur’Aini Nur’Aini","doi":"10.32479/ijefi.16279","DOIUrl":"https://doi.org/10.32479/ijefi.16279","url":null,"abstract":"This study aims to test the existence of a reciprocal relationship between taxpayer compliance and governance quality. From the first model with governance quality as a mediating variable, it is proven that it can mediate the level of taxpayer knowledge so that it will be able to strengthen the level of taxpayer compliance further through governance quality. However, governance quality cannot be a mediating variable for tax morale. From the second model, with taxpayer compliance as the mediating variable, it is proven that it can mediate the level of taxpayer morale so that the role of taxpayer compliance further strengthens the level of governance quality. However, for tax knowledge, the role of tax compliance cannot be a mediating variable.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141681556","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}
Mohamed Karim, Mohamed Simoh, Hamza El Baraka, Mohammed El Yazidi, Ismail Mouhil
The intricate dynamics between political stability and economic growth have emerged as a central focus of scholarly inquiry and policy consideration. This study delves into the nuanced relationship between political stability, investment, and economic prosperity within the unique context of African nations. Theoretical perspectives on this relationship range from negative to positive, reflecting the complexity of the interplay between political environments and economic trajectories. Drawing on a panel of 48 African countries spanning the years 2000-2020, this study employs a sophisticated generalized method of moments-type estimator for linear dynamic panel data models. Unlike many previous studies, we explicitly address the significance of institutional structures and their role in shaping economic growth dynamics. Our findings reveal that political stability is a key determinant with a structurally significant impact on economic growth. Moreover, the study highlights the catalyzing effect of investment, demonstrating a significantly positive influence on economic growth in politically stable environments.
{"title":"A Spatial Exploration of Political Stability, Investment, and Economic Prosperity in Africa","authors":"Mohamed Karim, Mohamed Simoh, Hamza El Baraka, Mohammed El Yazidi, Ismail Mouhil","doi":"10.32479/ijefi.15936","DOIUrl":"https://doi.org/10.32479/ijefi.15936","url":null,"abstract":"\u0000\u0000\u0000The intricate dynamics between political stability and economic growth have emerged as a central focus of scholarly inquiry and policy consideration. This study delves into the nuanced relationship between political stability, investment, and economic prosperity within the unique context of African nations. Theoretical perspectives on this relationship range from negative to positive, reflecting the complexity of the interplay between political environments and economic trajectories. Drawing on a panel of 48 African countries spanning the years 2000-2020, this study employs a sophisticated generalized method of moments-type estimator for linear dynamic panel data models. Unlike many previous studies, we explicitly address the significance of institutional structures and their role in shaping economic growth dynamics. Our findings reveal that political stability is a key determinant with a structurally significant impact on economic growth. Moreover, the study highlights the catalyzing effect of investment, demonstrating a significantly positive influence on economic growth in politically stable environments.\u0000\u0000\u0000","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141683353","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}
This paper examines the effects of coronavirus disease 2019 (COVID-19) pandemic outbreak on the Cypriot Stock Exchange (CSE), which has encountered substantial turmoil. For this purpose, daily stock market returns were used over the period of September 3, 2019 - July 10, 2020, for the Cypriot economy. The study applied Granger causality models to explore whether the CSE is impacted by the crisis generated by novel coronavirus. Hsiao’s approach to Granger causality was employed to investigate the causalities among COVID-19 and stock market returns, as well as between pandemic measures and several commodities. The analyses uncover intricate dynamics and contributing factors, shedding light on the observed volatility. The findings demonstrate significant volatility throughout the pandemic, with notable shifts in market conditions. Nevertheless, the stock market showcased resilience and recovery during the initial shutdown period. These insights contribute to understanding the pandemic’s impact on the CSE, offering crucial guidance for investors, policymakers, and market participants.
{"title":"The Impact of COVID-19 on the Cypriot Stock Market Dynamics","authors":"Christos Christodoulou-Volos, Dikaios Tserkezos","doi":"10.32479/ijefi.15875","DOIUrl":"https://doi.org/10.32479/ijefi.15875","url":null,"abstract":"This paper examines the effects of coronavirus disease 2019 (COVID-19) pandemic outbreak on the Cypriot Stock Exchange (CSE), which has encountered substantial turmoil. For this purpose, daily stock market returns were used over the period of September 3, 2019 - July 10, 2020, for the Cypriot economy. The study applied Granger causality models to explore whether the CSE is impacted by the crisis generated by novel coronavirus. Hsiao’s approach to Granger causality was employed to investigate the causalities among COVID-19 and stock market returns, as well as between pandemic measures and several commodities. The analyses uncover intricate dynamics and contributing factors, shedding light on the observed volatility. The findings demonstrate significant volatility throughout the pandemic, with notable shifts in market conditions. Nevertheless, the stock market showcased resilience and recovery during the initial shutdown period. These insights contribute to understanding the pandemic’s impact on the CSE, offering crucial guidance for investors, policymakers, and market participants.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141681906","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}
Smooth and stable commercial/business activities are the prime concern of every nation, as these activities decide the developmental routes of the economy. This study has examined the role of institutional development and policy mix in determining business freedom in developing countries. Institutional development has been measured with the help of government effectiveness and political stability. Policy mix have been measured with the help of monetary freedom and fiscal freedom. To examine the impact of explanatory variables on the explained variable, this study has used panel least squares, random effect model, and generalized method of moments. The estimated results show that fiscal freedom has a negative and significant impact on business freedom, whereas, monetary freedom has an insignificant impact on business freedom in the case of developing countries. The results show that government effectiveness, political stability, and tread freedom are encouraging business freedom in developing countries. The corporate tax has a negative and significant impact on business freedom. Empirical show that developing countries are more inclined towards non-developmental expenditures, thus to control the negative impacts of fiscal freedom developing countries needs rationalization in government expenditures. Developing countries should promote government effectiveness, political stability, and trade freedom to enhance business freedom. To control the negative impacts of corporate taxes, developing countries should rationalize tax policies to promote business freedom.
{"title":"Determinants of Business Freedom in Developing Countries: The Role of Institutional Development and Policy Mix","authors":"Marc Audi, Marc Poulin, Amjad Ali","doi":"10.32479/ijefi.16017","DOIUrl":"https://doi.org/10.32479/ijefi.16017","url":null,"abstract":"Smooth and stable commercial/business activities are the prime concern of every nation, as these activities decide the developmental routes of the economy. This study has examined the role of institutional development and policy mix in determining business freedom in developing countries. Institutional development has been measured with the help of government effectiveness and political stability. Policy mix have been measured with the help of monetary freedom and fiscal freedom. To examine the impact of explanatory variables on the explained variable, this study has used panel least squares, random effect model, and generalized method of moments. The estimated results show that fiscal freedom has a negative and significant impact on business freedom, whereas, monetary freedom has an insignificant impact on business freedom in the case of developing countries. The results show that government effectiveness, political stability, and tread freedom are encouraging business freedom in developing countries. The corporate tax has a negative and significant impact on business freedom. Empirical show that developing countries are more inclined towards non-developmental expenditures, thus to control the negative impacts of fiscal freedom developing countries needs rationalization in government expenditures. Developing countries should promote government effectiveness, political stability, and trade freedom to enhance business freedom. To control the negative impacts of corporate taxes, developing countries should rationalize tax policies to promote business freedom.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141682814","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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