Testing the dependency theory on small island economies: The case of Cyprus

Balcılar, Mehmet; Kutan, Ali M.

doi:10.1016/j.econmod.2016.11.011

Cited by 12 publications

(10 citation statements)

References 70 publications

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“…The regression parameters of the nonlinear MS-VAR model [ 29 ] are dependent upon unobservable regime variables. These regime variables act in concert with the process of Markov-switching (MS).…”

Section: Resultsmentioning

confidence: 99%

Incentive and constraint regulations of rating inflation in collusion over the separation of economic cycles - Markov rating shopping dual reputation model

Zhou

Tian

Zhang³

et al. 2018

PLoS ONE

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Economic cycles may lead to changes in corporate bond credit ratings. This paper utilizes the Markov model to describe transition probability matrixes of economic states for the separation of economic cycles. We develop a new model, which we term the Markov rating shopping dual reputation model, incorporating two reputation effects. This model is well suited to analyze the conditions of the dual rating incentive regulation and the constraint regulation for preventing rating inflation in collusion among credit rating agencies. Then, we apply the Markov regime switching-vector auto-regression (MS-VAR) to estimate the transition probability matrixes of America, England, Japan and China. Based on the numerical analysis and the simulations, the results show that a dual rating regulation can prevent the collusion of inflated ratings, as well as increased rating fees with the separation of economic cycles; additionally, when separating the economic cycles, a constraint regulation is more effective at reducing the risk of rating inflation in collusion and regulatory cost.

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Section: Resultsmentioning

confidence: 99%

Incentive and constraint regulations of rating inflation in collusion over the separation of economic cycles - Markov rating shopping dual reputation model

Zhou

Tian

Zhang³

et al. 2018

PLoS ONE

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“…At the end of 2015, 38,470 m 2 of SWH were in use. Despite the decision of the government to reduce tax credits from 50% to 30%, SWH systems are supported by RTAADOM 7 . The regulation sets the domestic hot water requirements in any new building projects at a minimum of 50% of SWH.…”

Section: Institutional Barriersmentioning

confidence: 99%

“…Furthermore, it seems obvious that islands need alternative green energy scenarios to balance their high dependance to fossil fuel imports for electricity generation [1]. Moreover, islands are strongly marked by their incapacity to achieve economies of scale, [7]. Several islands are currently lagging behind and for many of them, their economic growth is highly dependent on their patron [7].…”

Section: Introductionmentioning

confidence: 99%

“…Moreover, islands are strongly marked by their incapacity to achieve economies of scale, [7]. Several islands are currently lagging behind and for many of them, their economic growth is highly dependent on their patron [7]. Local responses of human societies to face the e ects of climate change are developed in very unequal conditions : small islands which are the most exposed territories to climate change are not the most emiting in terms of greenhouse gases.…”

Section: Introductionmentioning

confidence: 99%

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Sustainable urban planning for a successful energy transition on Reunion Island: From policy intentions to practical achievement

Bénard-Sora¹,

Praene²

2018

Utilities Policy

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Numerous studies have investigated how small vulnerable territories are adapting to climate change, particularly non-interconnected islands with focus on Renewable Energy Sources (RES) and self-su ciency. A key to success is an energy plan with appropriate policy tools. This paper rst presents a discussion on barriers to RES deployment. Then, we present the energy situation and the legislative energy framework in Reunion Island. Are the legislative and policy frameworks su cient to achieve the energy transition ? This paper proposes an original view discussing the potential of a territory and available tools to develop RES. Energy transition is also view as an opportunity.

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“…This research focuses on two of the central issues in the modern economic literature, i.e., inequality and interdependence, that had drawn the continuous attention and have recently resulted in a great number of empirical results and their different interpretation: Balcilar, Kutan, and Yaya (2017); Ductor and Leiva-Leon (2016); Ezcurra and Rodriguez-Pose (2013); Fosu (2017); Lv, Li, and Fang (2017); Nag and Stapenhurst (2015); Yamarik, El-Shagi, and Yamashiro (2016) etc. However, these phenomena are mainly studied separately despite on their relative interdependence.…”

Section: Introductionmentioning

confidence: 99%

A measurement of affluence and poverty interdependence across countries: Evidence from the application of tail copula

Matkovskyy

2020

Bulletin of Econ Res

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This paper examines affluence and poverty interdependence across 185 countries and its evolution over 1969-2014. To estimate affluence and poverty interdependence and derive tail interdependences the tail copulae are applied to multivariate density function. The tail coefficients are estimated in the non-parametric way as in Schmidt and Stadtmüller (2006). The estimates show, that poverty is less interdependent and continue to decrease, while affluence has asymptotically high global dependence, meaning a higher global dependence on and sensitivity to the wellbeing of the affluent countries. The received results derive the pattern of the extreme interdependence and can help to identify poverty and affluence spill-over across countries and regions and calculate the average sensitivity of a country to these phenomena on the global level and can potentially help in poverty reduction strategies within the Sustainable Development Goal by the United Nations.

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Testing the dependency theory on small island economies: The case of Cyprus

Cited by 12 publications

References 70 publications

Incentive and constraint regulations of rating inflation in collusion over the separation of economic cycles - Markov rating shopping dual reputation model

Incentive and constraint regulations of rating inflation in collusion over the separation of economic cycles - Markov rating shopping dual reputation model

Sustainable urban planning for a successful energy transition on Reunion Island: From policy intentions to practical achievement

A measurement of affluence and poverty interdependence across countries: Evidence from the application of tail copula

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