“…COVID-19 crisis on BRICS. Recent studies have focused on emerging markets to analyse the impact of the COVID-19 crisis in different contexts and frameworks (e.g., Gubareva, 2021;Haroon and Rizvi, 2020a;Topcu and Serkan, 2020;Janus, 2021;Xu and Lien, 2021;Zaremba et al, 2021;Bȩdowska-Sójkaa and Kliber, 2022;. For example, Gubareva (2021) analyses bond market liquidity in emerging countries during the COVID-19 crisis and finds that liquidity has been severely damaged, with values far removed from pre-COVID-19 levels.…”
This study aims to examine the impact of the different waves of the COVID-19 pandemic on the connectedness of the BRICS (Brazil, Russia, India, China, and South Africa) term structure of interest rates and its components (level, slope and curvature). For that purpose, this research applies the time-varying parameter vector autoregression (TVP-VAR) approach in order to assess the direction of spillovers among countries and factors and measure their contribution to the connectedness system. Our results show that the total connectedness measure changes over time, and the level and curvature components show connectedness that persists longer than the slope component, both in the first wave of the COVID-19 pandemic. Brazil and South Africa would appear as net transmitters of shocks, whereas China and India are net receivers. Finally, the most significant differences in the net dynamic connectedness between transmitters and receivers were focused on before and during the first wave of the COVID-19 pandemic crisis. Some additional impacts were observed during the last waves of the coronavirus pandemic. To our best knowledge, this is the first study on the connectedness between the yield curves of the BRICS economies and the COVID-19 crisis uncertainty according to the coronavirus MCI, by decomposing the yield curve into its factors (level, slope, and curvature).
“…COVID-19 crisis on BRICS. Recent studies have focused on emerging markets to analyse the impact of the COVID-19 crisis in different contexts and frameworks (e.g., Gubareva, 2021;Haroon and Rizvi, 2020a;Topcu and Serkan, 2020;Janus, 2021;Xu and Lien, 2021;Zaremba et al, 2021;Bȩdowska-Sójkaa and Kliber, 2022;. For example, Gubareva (2021) analyses bond market liquidity in emerging countries during the COVID-19 crisis and finds that liquidity has been severely damaged, with values far removed from pre-COVID-19 levels.…”
This study aims to examine the impact of the different waves of the COVID-19 pandemic on the connectedness of the BRICS (Brazil, Russia, India, China, and South Africa) term structure of interest rates and its components (level, slope and curvature). For that purpose, this research applies the time-varying parameter vector autoregression (TVP-VAR) approach in order to assess the direction of spillovers among countries and factors and measure their contribution to the connectedness system. Our results show that the total connectedness measure changes over time, and the level and curvature components show connectedness that persists longer than the slope component, both in the first wave of the COVID-19 pandemic. Brazil and South Africa would appear as net transmitters of shocks, whereas China and India are net receivers. Finally, the most significant differences in the net dynamic connectedness between transmitters and receivers were focused on before and during the first wave of the COVID-19 pandemic crisis. Some additional impacts were observed during the last waves of the coronavirus pandemic. To our best knowledge, this is the first study on the connectedness between the yield curves of the BRICS economies and the COVID-19 crisis uncertainty according to the coronavirus MCI, by decomposing the yield curve into its factors (level, slope, and curvature).
“…If one is given possession of something that is owned by someone else, this for the Shona people is not empowering enough unless ownership is transferred to the one who is to be empowered. In this regard, relying on donations and aid in respect of COVID-19 vaccines cannot be empowering to Africans, in any case African states are being forced by global pharmaceutical corporations to use their sovereign assets as collateral security for the vaccines (Bedowska-Sojka & Kliber, 2021; Taylor, 2021). To put it succinctly, the story advises Africans to refuse donations that come with conditionalities—donations that can only be enjoyed by those that are tied up first.…”
Section: Beyond the Coloniality Of Power: The Complexity Of The Colon...mentioning
Africans need to be careful with discourses on coloniality that avoid dealing with central aberrations of colonialism. Focusing on coloniality of power, coloniality of being, coloniality of knowledge and coloniality of gender, contemporary discourses on coloniality sidestepped a central aspect of colonialism. Motivated not by quests to merely exercise power, as is assumed in coloniality of power; and motivated not merely by quests to dominate Africans using knowledge, as is assumed in coloniality of knowledge; and motivated not ultimately by the quest for gender domination, as is assumed in the coloniality of gender, colonialists dispossessed colonized people. Reviewing literature and using the Shona (a people of Zimbabwe) proverbs chisi chako masimba mashoma/kunzi pakata sandi kunzi ridza (one should not exercise power over what one does not own/possession is not synonymous with ownership), this paper postulates the notion of coloniality of dispossession. The paper concludes that power is merely a tool to dispossess colonized people, and so decolonial scholarship must focus not only on tools used to colonize other people but on the ultimate goals of using tools, such as power.
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