Yazar "Magazzino, Cosimo" seçeneğine göre listele

Listeleniyor 1 - 4 / 4
  • Küçük Resim
    Öğe
    The impact of natural disaster shocks on business confidence level and Istanbul Stock Exchange: A wavelet coherence approach
    (Wiley, 2023) Toguc, Nurhan; Kuskaya, Sevda; Magazzino, Cosimo; Bilgili, Faik
    The focus of this study is to examine the short-and long-term causal effects of natural disaster shocks on the stock market and business confidence level in the time-frequency domain by studying the co-movements between earthquake data and the Istanbul Stock Index closing prices, using the Wavelet Coherence and Phase Difference analyses. The empirical findings reveal that the relationship between earthquake events and financial markets is not stable over time and across different time horizons. The linkage becomes stronger in the long term when the impact of the earthquake event coincides with a financial crisis reflecting a combined effect. This nexus is also strong during the years 2007-2011 reflecting a similar combined effect of both an earthquake event and the global financial crisis. Meanwhile, co-movement between the earthquake and the financial market index implies a negative effect in the period 2011-2012, indicating short-run effects of stock market shocks. Differentiating these short-term and long-term effects has implications for risk man-agement and policymaking.
  • Küçük Resim
    Öğe
    Modeling the dynamic Nexus among coal consumption, pollutant emissions and real income: empirical evidence from South Africa
    (SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Magazzino, Cosimo; Bekun, Festus Victor; Etokakpan, Mfonobong Udom; Uzuner, Gizem
    This study explores the interaction among coal consumption, pollutant emissions, and real income for South Africa in a multivariate setting. To achieve this objective, annual frequency data spanning from 1965 to 2017 is used for analysis. A series of econometrics tests were conducted ranging from stationarity and non-stationarity tests for unit root properties of the variables under consideration. Empirical evidence finds support for the inverted U-shaped pattern between energy consumption and environmental degradation in South Africa. The Toda-Yamamoto Granger causality test shows a feedback causality between economic growth and carbon dioxide emissions, as well as between GDP and coal consumption. All these highlighted findings have inherent environmental implications. Based on these outcomes, policy directions such as diversification of the South Africa energy mix to renewables and cleaner energy sources and also the adoption of carbon capturing and storage techniques were suggested to engender a cleaner and friendlier environment.
  • Küçük Resim
    Öğe
    Modeling the nexus between pollutant emission, energy consumption, foreign direct investment, and economic growth: new insights from China
    (SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Udemba, Edmund Ntom; Magazzino, Cosimo; Bekun, Festus Victor
    Most nations are predominately preoccupied with the need to increase economic growth amidst pressure for increased energy consumption. However, higher energy consumption from fossil fuel has its environmental implication(s) especially in a high industrial economy like China. In this context, the current study explores the interaction between pollutant emission, foreign direct investment, energy consumption, tourism arrival, and economic growth for quarterly frequency data from 1995Q1 to 2016Q4 for econometrics analysis. Pesaran’s autoregressive distributed lag–bound test traces long-run relationship between all outlined variables over the investigated period. Empirical results show positive relationship between pollutant emissions with all other variables with the exception of economic growth. This further exposes the environmental degradation in China with the curtailing strength from the GDP. The Granger causality analysis detects that CO2 emissions and energy consumption show a two-way causality observed. Also, one-way causality existing between growth and foreign direct investment is seen running to pollutant emission. Furthermore, one-way causality is observed among foreign direct investment, energy consumption, pollutant emission, and tourism arrivals with economic growth, and this established their impact on the economic growth which will be a guide to the policy implication on how to ameliorate environmental degradation from the effect of consumption of fossil energy sources and foreign direct investment–induced pollutant emission.
  • Küçük Resim
    Öğe
    The trilemma of innovation, logistics performance, and environmental quality in 25 topmost logistics countries: A quantile regression evidence
    (ELSEVIER SCI LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLAND, 2021) Magazzino, Cosimo; Alola, Andrew Adewale; Schneider, Nicolas
    While the deployment of technological innovation was able to avert a devastating global supply chain fallout arising from the impact of ravaging COronaVIrus Disease 19 (COVID-19) pandemic, little is known about potential environmental cost of such achievement. The aim of this paper is to identify the determinants of logistics performance and investigate its empirical linkages with economic and environmental indicators. We built a macro-level dataset for the top 25 ranked logistics countries from 2007 to 2018, conducting a set of panel data tests on cross-sectional dependence, stationarity and cointegration, to provide preliminary insights. Empirical estimates from Fully Modified Ordinary Least Squares (FMOLS), Generalized Method of Moments (GMM), and Quantile Regression (QR) model suggest that technological innovation, Human Development Index (HDI), urbanization, and trade openness significantly boost logistic performance, whereas employment and Gross Fixed Capital Formation (GFCF) fail to respond in such a desirable path. In turn, an increase in the Logistic Performance Index (LPI) is found to worsen economic growth. Finally, LPI exhibits a large positive effect on carbon emissions, which is congruent with a strand of the literature highlighting that the modern supply chain is far from being decarbonized. Thus, this evidence further suggest that more global efforts should be geared to attain a sustainable logistics.