Are disaggregate industrial returns sensitive to economic policy uncertainty

Rehman, Mobeen Ur; Asghar, Nadia; Hussain, Javed

doi:10.1016/j.physa.2019.121301

Cited by 12 publications

(8 citation statements)

References 78 publications

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“…Therefore, economic policy uncertainty (EPU) is attributable to multiple factors, including uncertainty in monetary, fiscal, economic, social, political and regulatory policies. However, uncertainty can elicit a strong reaction from macroeconomic factors mainly contributes by government policymakers due to electoral outcomes or uncertain regimes (Baker et al, 2016;Rehman et al, 2019). A nonlinear ARDL approach is developed by Kocaarslan et al (2020) to investigate the presence of asymmetric interactions among oil prices, uncertainty interest rate and unemployment.…”

Section: Evidence In Developed Countriesmentioning

confidence: 99%

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Relationship between unemployment and policy uncertainty in Nigeria: ARDL evidence from 1990 to 2020

Zaria

Tuyon²

2023

IJSE

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PurposeApart from providing theoretical clarity, the present research aims to validate empirically that the EPU will be adversely affecting these key macroeconomic variables and that managing EPU matters for economic policymaking in Nigeria.Design/methodology/approachA dynamic autoregressive distributed lag regression model is employed to analyse the relationship from 1990 to 2020. Based on the theory of multiplier effect, the analysis could examine the positive and negative changes in policy uncertainty, as well as the reliability in macroeconomic activities such as unemployment, infrastructure development and foreign direct investment inflows.FindingsThe findings revealed EPU is cointegrated with the key economic variables in focus. Further, the negative impact of EPU on corporate investment in FDI and positive impact of EPU on unemployment confirm for both short and long-run. However, the impact of EPU on government investment in infrastructure development is found to be positive which does not confirm the expected hypothesis.Practical implicationsDynamic relationship between policy uncertainty and macroeconomic activities in Nigeria seems to exist. Taking risky decisions has impact and causing a high unemployment rate, poor infrastructural development and lower foreign direct investment inflows in the country.Originality/valuePolicy uncertainty in Nigeria is determining. Despite that, very little research found that rising uncertainty issues may significantly affect unemployment, investment in infrastructure and foreign direct investment inflows adversely. Therefore, policy uncertainty is an open space for economic activities to thrive in Nigeria, especially unemployment.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-08-2022-0555

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Section: Evidence In Developed Countriesmentioning

confidence: 99%

“…However, uncertainty can elicit a strong reaction from macroeconomic factors mainly contributes by government policymakers due to electoral outcomes or uncertain regimes (Baker et al. , 2016; Rehman et al. , 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Relationship between unemployment and policy uncertainty in Nigeria: ARDL evidence from 1990 to 2020

Zaria

Tuyon²

2023

IJSE

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“…Their results suggest that increasing EPU hinders equity returns except UK and France. In a more recent work, Rehman, Asghar, and Hussain (2019) examine the sensitivity of US sectoral returns to economic policy uncertainty and find that IT, utilities, industrials and telecommunications sector highlight no changes to US EPU.…”

Section: Economic Policy Uncertainty and The Stock Marketmentioning

confidence: 99%

Sensitivity of US equity returns to economic policy uncertainty and investor sentiments

Rehman

Şensoy

Eraslan

et al. 2021

The North American Journal of Economics and Finance

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“…Economic agents have their beliefs about possible approaches of the government's industrial policy, subsidies or taxes that will integrate future economic policy. In [22] it is shown that information technology, utilities, industrial and telecommunication sectors remain mostly insensitive to changes in the US economic policy uncertainty. However, financial and consumer discretionary sectors show a significant long run asymmetric relationship with the economic policy uncertainty.…”

Section: 21mentioning

confidence: 99%

Firms, technology, training and government fiscal policies: An evolutionary approach

Accinelli¹,

Martins²,

Muñiz³

et al. 2021

DCDS-B

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<p style='text-indent:20px;'>In this paper we propose and analyze a game theoretical model regarding the dynamical interaction between government fiscal policy choices toward innovation and training (I&T), firm's innovation, and worker's levels of training and education. We discuss four economic scenarios corresponding to strict pure Nash equilibria: the government and I&T poverty trap, the I&T poverty trap, the I&T high premium niche, and the I&T ideal growth. The main novelty of this model is to consider the government as one of the three interacting players in the game that also allow us to analyse the I&T mixed economic scenarios with a unique strictly mixed Nash equilibrium and with I&T evolutionary dynamical cycles.</p>

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Are disaggregate industrial returns sensitive to economic policy uncertainty

Cited by 12 publications

References 78 publications

Relationship between unemployment and policy uncertainty in Nigeria: ARDL evidence from 1990 to 2020

Relationship between unemployment and policy uncertainty in Nigeria: ARDL evidence from 1990 to 2020

Sensitivity of US equity returns to economic policy uncertainty and investor sentiments

Firms, technology, training and government fiscal policies: An evolutionary approach

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