Oil prices and gold prices on housing market in China: novel findings from the bootstrap approach

Ali, Mumtaz; Samour, Ahmed; Joof, Foday; Türsoy, Turgut

doi:10.1108/ijhma-09-2022-0132

Cited by 3 publications

(2 citation statements)

References 86 publications

(97 reference statements)

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“…

lnBD,

lnGDP, lnFDI and lnREC are

variables of the examined model in logarithm form because the log difference is approximating percent change, and independent of direction of change, and

normalz

is optimal for lags.

{ECT}_{t - 1} is the

‘Error‐correction term’ (

{ECT}_{t - 1}

), the finding of ECT must be negative and statistically significant to affirm the speed of adjustment from convergence to equilibrium (Adebayo & Kartal, 2023; Ali et al, 2022) . The present work uses advanced techniques to promote the cointegration level amid the selected variables.…”

Section: Data Properties and The Empirical Modelmentioning

confidence: 99%

Testing the effects of banking development, economic growth and foreign direct investment on renewable energy in South Africa

et al. 2023

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The world's climate‐related policies need to be revised to combat environmental issues. Therefore, adopting renewable energy technologies in conjunction with energy efficiency measures are needed to make safe pathways to reduce over 90% of energy related CO2. In this context, this study intends to assess the influence of foreign direct investment (FDI), economic growth, and banking and development on renewable energy consumption in South Africa from 1970 to 2020. The study uses a novel ‘bootstrap Autoregressive Distributed Lag (ARDL)’ testing to empirically analyse the short and long links among the tested variables. The ARDL estimations demonstrate a FDI and economic growth have positive effect on renewable energy consumption. Furthermore, the outcomes reveal that banking sector development affects positively renewable energy use in long run. Therefore, it is suggested that government and playmakers of South Africa must make more efforts to link the economic and baking development with renewable energy by investing capital and funds in renewable energy infrastructure. It will not only boost the economy of the country but also provide an opportunity to clean and green the environment with decreasing rate of greenhouse gases emission like carbon dioxide.

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“…

lnBD,

lnGDP, lnFDI and lnREC are

variables of the examined model in logarithm form because the log difference is approximating percent change, and independent of direction of change, and

normalz

is optimal for lags.

{ECT}_{t - 1} is the

‘Error‐correction term’ (

{ECT}_{t - 1}

Section: Data Properties and The Empirical Modelmentioning

confidence: 99%

Testing the effects of banking development, economic growth and foreign direct investment on renewable energy in South Africa

et al. 2023

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“…Experts from the United Nations highlight that the global population is aging (United Nations, 2022), and the number and proportion of the aging population is increasing in every country in the world. Scholars (Mason & Lee, 2022) have proven that the problem of population aging has already become one of the most important social trends in the 21st century, affecting labor (Olivieri et al, 2022;Tan et al, 2022), finance (Dzogbenuku et al, 2022;Guan et al, 2022), housing (Alhodiry et al, 2021;Chum et al, 2022;Gong & Yao, 2022), the environment (M. Ali et al, 2022;H. Chen et al, 2022;Ginevicˇius, Nazarko et al, 2021;Us et al, 2022;Yu et al, 2022), and social security (Crist et al, 2022;Gelber et al, 2022;Yula et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

The Role of Population Aging in High-Quality Economic Development: Mediating Role of Technological Innovation

Gao,

Chen,

et al. 2023

SAGE Open

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This paper aims to research the relationship between population aging, technological innovation, and high-quality economic development. The study applies the spatial econometric model and the intermediary effect model. The object of investigation is 31 provinces in China from 2013 to 2020. The results show that population aging has a significant effect on technological innovation and high-quality economic development. In addition, population aging promotes technological innovation and is further conducive to high-quality economic development. In addition, the impact of population aging on high-quality economic development is regionally heterogeneous. Thus, population aging in the eastern and central regions stimulates technological innovation to have a positive impact on high-quality economic development. Population aging in the western region inhibits technological innovation and has a negative impact on high-quality economic development. Based on this, the study proposes countermeasures to promote high-quality economic development.

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Relationship between housing, oil, gold and stock markets: evidence from UK and Norway

Büyükkara,

Özgüler,

Hepsen

2023

IJHMA

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Purpose The purpose of this study is to explore the intricate relationship between oil prices, house prices in the UK and Norway, and the mediating role of gold and stock prices in both the short- and long-term, unraveling these complex linkages by employing an empirical approach. Design/methodology/approach This study benefits from a comprehensive set of econometric tools, including a multiequation vector autoregressive (VAR) system, Granger causality test, impulse response function, variance decomposition and a single-equation autoregressive distributed lag (ARDL) system. This rigorous approach enables to identify both short- and long-run dynamics to unravel the intricate linkages between Brent oil prices, housing prices, gold prices and stock prices in the UK and Norway over the period from 2005:Q1 to 2022:Q2. Findings The findings indicate that rising oil prices negatively impact house prices, whereas the positive influence of stock market performance on housing is more pronounced. A two-way causal relationship exists between stock market indices and house prices, whereas a one-way causal relationship exists from crude oil prices to house prices in both countries. The VAR model reveals that past housing prices, stock market indices in each country and Brent oil prices are the primary determinants of current housing prices. The single-equation ARDL results for housing prices demonstrate the existence of a long-run cointegrating relationship between real estate and stock prices. The variance decomposition analysis indicates that oil prices have a more pronounced impact on housing prices compared with stock prices. The findings reveal that shocks in stock markets have a greater influence on housing market prices than those in oil or gold prices. Consequently, house prices exhibit a stronger reaction to general financial market indicators than to commodity prices. Research limitations/implications This study may have several limitations. First, the model does not include all relevant macroeconomic variables, such as interest rates, unemployment rates and gross domestic product growth. This omission may affect the accuracy of the model’s predictions and lead to inefficiencies in the real estate market. Second, this study does not consider alternative explanations for market inefficiencies, such as behavioral finance factors, information asymmetry or market microstructure effects. Third, the models have limitations in revealing how predictors react to positive and negative shocks. Therefore, the results of this study should be interpreted with caution. Practical implications These findings hold significant implications for formulating dynamic policies aimed at stabilizing the housing markets of these two oil-producing nations. The practical implications of this study extend to academics, investors and policymakers, particularly in light of the volatility characterizing both housing and commodity markets. The findings reveal that shocks in stock markets have a more profound impact on housing market prices compared with those in oil or gold prices. Consequently, house prices exhibit a stronger reaction to general financial market indicators than to commodity prices. Social implications These findings could also serve as valuable insights for future research endeavors aimed at constructing models that link real estate market dynamics to macroeconomic indicators. Originality/value Using a variety of econometric approaches, this paper presents an innovative empirical analysis of the intricate relationship between euro property prices, stock prices, gold prices and oil prices in the UK and Norway from 2005:Q1 to 2022:Q2. Expanding upon the existing literature on housing market price determinants, this study delves into the role of gold and oil prices, considering their impact on industrial production and overall economic growth. This paper provides valuable policy insights for effectively managing the impact of oil price shocks on the housing market.

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Oil prices and gold prices on housing market in China: novel findings from the bootstrap approach

Cited by 3 publications

References 86 publications

Testing the effects of banking development, economic growth and foreign direct investment on renewable energy in South Africa

Testing the effects of banking development, economic growth and foreign direct investment on renewable energy in South Africa

The Role of Population Aging in High-Quality Economic Development: Mediating Role of Technological Innovation

Relationship between housing, oil, gold and stock markets: evidence from UK and Norway

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