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This paper studies how return connectedness exhibits potential linkages among 17 economies over a 20-year period starting in 2001. We obtained three main results by employing the dynamic connectedness approach, which is based on vector auto-regression (VAR), to calculate generalized forecast error decompositions. First, although the financial crisis (2007–2008) experienced a high level of connectedness, the spillover index spiked during the early stages of the COVID-19 outbreak. Second, the “return shock sender” is a community of countries that includes the United States, Australia, and European countries, while Vietnam is immune to financial linkages. Third, we discovered the predictive power of U.S. economic policy uncertainty and disease fear with market volatility for the Vietnamese return connectedness. As a result, our research identifies a range of relevant policies to mitigate spillover risks in the context of financial stability.

In the original publication of the article, the acknowledgement section has been missed to update. Now the same has been provided in this correction.

This is book review of “Cultural Finance, A World Map of Risk, Time and Money” edited by Thorsten Hens, Marc Oliver Rieger and Mei Wang. This book review’s focus point is on how “Cultural Finance, A World Map of Risk, Time and Money” develops, based on the book’s content, in the current studies of prospect theory preferences in 53 different countries. The book review starts with a literature review on studied research in “Cultural Finance, A World Map of Risk, Time and Money”, follows with short summaries of each chapter, and finally sums up its practical implication. This book greatly demonstrates the greatest care and thoroughness regarding the growth of cultural finance.

Japan has provided ODA funding for promoting economic development in ASEAN countries for long time. However the percentage of the fund has been descending for over a decade. This paper therefore aims to verify how Japan's ODA contributes to economic growth, proxy by GDP, for the ASEAN region in the period 2008-2020. Based on the Cobb-Douglas production function, we build our model to estimate the effects of the ODA factor. We employed a wide range of quantitative econometrics models to properly determine the link between financing assistance and the economic expansion of those Southeast Asian nations. The results suggest that ODA exhibits a significantly positive relationship with economic growth for this region over 13 years. A 1% increase in the ODA inflow contributes to the economic growth of 0.226%. In addition, both determinants, such as capital and labor, become important factors driving the growth in GDP while the FDI has a negligible impact. Finally, ODA is seen as a complement to the recipient's efforts as well as a driving force for the giver. From this point, some policies are drawn to harmonize the official development assistance and economic growth.

The impact of pro-environmental behavior on policymaking has been an exciting area of research. While the relationship between pro-environmental behavior and policymaking has been explored in numerous studies, there needs to be more synthesis on this topic. This is the first text-mining study of pro-environmental effects in which policymaking is a significant factor. In response, this study, for the first time, takes a novel approach by using text mining in R programming to analyze 30 publications from the Scopus database on pro-environmental behavior in policymaking, highlighting major research themes and prospective research areas for future investigation. Results from text mining yielded 10 topic models, which are presented with a synopsis of the published research and a list of the primary authors, as well as a posterior probability via latent Dirichlet allocation (LDA). Additionally, the study conducts a trend analysis of the top 10 journals with the highest impact factor, considering the influence of each journal’s mean citation. The study offers an overview of the impacts of pro-environmental behavior in policymaking, showing the most relevant and frequently discussed themes, introduces the scientific visualization of papers published in the Scopus database, and proposes future study directions. These findings can help researchers and environmental specialists better understand how pro-environmental behavior can be fostered more effectively through policymaking.