The Asian Bulletin of Contemporary Issues in Economics and Finance

Thriving or Declining? Unraveling Corruption, Environmental Quality, Energy Consumption, and Economic Growth in ASEAN Countries

2024-05-04T13:16:22+00:00

The current study is carried out to explore the link between Corruption,
Environment quality. Energy consumption and economic growth in selected
Asean countries. In addition to that, the present study aims to highlight the
direct impacts of corruption upon environmental degradation, energy
consumption, and economic progress. For this purpose, the analytical
framework has been particularly used. Theoretically, environmental quality is
expected to be directly influenced by corruption using taxation and
regulations, while corruption affects economic growth which in turn affects
the quality of environment. Therefore, economic growth is negatively
influenced by the levels of corruptions. The higher the levels of corruption the
lower will be the GDP level of an economy. This lower GDP level then
influences the environmental quality, and thus confirms the EKC hypothesis.
This paper has employed cointegration model for analyzing the association
between environmental quality, energy consumption, corruption, and
economic growth for the data involving 5 ASEAN countries i.e. Malaysia,
Thailand, Singapore, Philippines, and Indonesia for the years 1960-2021. The
literature review has shown no empirical study that have employed
cointegration model for examining the effects of corruption on energy
consumption, environmental quality, and economic growth. The findings of
the study are in line with the proposed hypothesis. The study which is among
the pioneering studies will be helpful for policymakers and researchers.

Does Self-Control and Over-Confidence Influence Investment Decision: The Mediating Role of Fundamental and Technical Analysis

2024-03-12T05:11:51+00:00

This study investigates the influence of self-control and over-confidence on investment decision-making, with a focus on the mediating role of fundamental and technical analysis. The respondents of the study are institutional investors operating in the Pakistan Stock Exchange Market (PSX), which includes the Lahore Stock Exchange, Karachi Stock Exchange, and Islamabad Stock Exchange. The behavior of these investors is assessed to determine the impact of stock market fluctuations on their investing decisions. The unit of analysis in this research is the institutional investors themselves. The study aims to examine the behavioral consequences of integrating self-control and overconfidence variables in investment decisions, particularly in relation to market instability and variations in fundamental and technical analysis. To select the sample, both stratified sampling and cluster sampling techniques were employed. Cluster sampling was used to save costs, while stratified sampling ensured that the sample accurately reflects the population. The states were divided into clusters to facilitate the use of cluster sampling. In terms of sample size, the study solely focuses on institutional investors in the Pakistan stock exchange PSX. Therefore, the sample consists of 375 institutional investors. Data collection for this study utilized a 5-point Likert scale, which is a commonly used measurement instrument for determining the relationship between variables. The scale allows respondents to provide their opinions on a continuum from strongly disagree to strongly agree. This approach enhances the originality and reliability of the data while minimizing respondent annoyance. Overall, this study aims to contribute to the understanding of how self-control and over-confidence influence investment decisions, with fundamental and technical analysis serving as mediators in the context of the Pakistan Stock Exchange Market. The findings from this research can provide valuable insights for institutional investors in their decision-making processes. Integrating self-control and over-confidence in investment decision-making aligns with SDG Goal 8: Decent Work and Economic Growth, by promoting responsible and sustainable investment practices.

Time-varying Relationship between Oil Prices, Stock Market Performance, and Covid-19 in United States of America, China, and Malaysia: Evidence from Wavelet Approach

2024-03-12T17:05:21+00:00

The purpose of this paper is to have a better understanding of the reactions to the oil price and stock market performance over a different period of the Covid-19 pandemic from January 2019 to August 2022 (Pre Covid, During Covid, and Post Covid) in the United States of America, China, and Malaysia. In the study, various approaches such as line graphs, descriptive statistics, correlation, wavelet correlation, continuous wavelet transform, and wavelet coherence analysis were used to analyse the decomposition of time series oil and stock market data in different time period. The study provides evidence of positive linear relationships between crude oil prices with the 3 countries’ stock markets in pre-covid, during-Covid and post-covid. In addition, both oil price and stock prices have evidence of a lead-lag relationship with each other, which differs in the period of time. The research results will benefit investors for better prediction during future pandemic situations and economic crises.

Does Political Stability Matter for Foreign Direct Investment in Eurasian countries? Examining the Role of the Business Environment and Macroeconomic Variables

2024-04-21T16:26:54+00:00

This In recent years, developing countries have placed a strong emphasis on attracting foreign direct investment (FDI), which is ostensibly regarded as the most important external resource for increasing industrial activity and real income growth. Indeed, the subsequent benefits of FDI, one of which is increased economic growth in developing countries, have been widely acknowledged. As a result, the goal of this study was to look into the impact of foreign macroeconomic factors, political instability, and the business environment on foreign direct investment in Eurasia countries. Many developing countries have softened their stances on foreign direct investment (FDI) in the hopes of luring more of this kind of investment and thereby bolstering their economies. This is due to the fact that there are many benefits to utilizing foreign capital during the expansion process. The panel data method was used to analyse information gathered from ten different Eurasia countries over a twenty-six-year period, from 1996 to 2021. The study's findings support the predicted outcomes of the hypothesized research. This study is one of the few in Eurasia countries that can be considered a pioneering study on the subject. This study will help policymakers and researchers understand the relationship between macroeconomic risk, political instability, the business environment, and foreign direct investment.

Sustainable Growth in expanded BRICS: Linking Institutional performance, digital governance, and Green Finance to Environmental Impact

2024-04-18T20:24:42+00:00

The main objective of the current study is to examine the impact of institutional performance, digital governance, and green finance on environmental performance within expanded BRICS nations that have undergone expansion. Key findings indicate that enhancing digital governance significantly reduces emissions; therefore, policies should be implemented to fortify digital infrastructure and promote environmentally responsible practices. The study utilized three discrete regression models to analyse the ecological impact and emissions of carbon dioxide and nitrous oxide, providing insights into the primary greenhouse gases contributing to global climate change. In light of the intricate correlation between emissions and institutional performance, it is imperative to develop nuanced policies that effectively reconcile the need to strengthen institutions with environmental concerns. Green financing is a crucial element that advocates for policies that encourage investment in environmentally friendly initiatives and technology and has a net positive impact on emissions reduction. The adoption of sustainable practices is imperative for economic expansion due to the observed correlation between heightened emissions and economic capacity. To decouple environmental degradation from economic expansion, policies should be implemented to support green technologies. In summary, these results provide evidence in favour of a comprehensive policy approach within the BRICS countries, which ought to achieve a harmonious coexistence of environmental conservation and economic advancement, to the advantage of all stakeholders. The current study is carried out to promote environmental sustainability, reduce harmful activities, strengthen institutions for collaborative pollution management, and enforce stringent environmental regulations on foreign direct investment, the expanded BRICS nations should strive to reduce detrimental activities. Placing significant emphasis on the interdependent nature of economic development and its environmental ramifications is of utmost importance.