Time-varying impacts of green credit on carbon productivity in China: New evidence from a non-parametric panel data model

Hou, Peng; Luo, Shuang; Liu, Siming; Tan, Yong; Roubaud, David

doi:10.1016/j.jenvman.2024.121132

Journal of Environmental Management

2024

DOI: 10.1016/j.jenvman.2024.121132

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Time-varying impacts of green credit on carbon productivity in China: New evidence from a non-parametric panel data model

Peng Hou,

Shuang Luo,

Siming Liu

et al.

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Analysing Rational Bubbles in African Stock Markets: Evidence from Econophysics Frequency Domain Estimates and DCC MGARCH Model

Lawal,

Oseni,

Ahmed

et al. 2024

Economies

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The stock market operates on informed decisions based on information gathered from heterogeneous sources, encompassing diverse beliefs, strategies, and knowledge. This study examines the validity of rational bubbles in stock market prices, focusing on eight African stock markets: South Africa, Nigeria, Kenya, Egypt, Morocco, Mauritius, Ghana, and Botswana. Utilizing newly developed econophysics-based unit root tests and the Dynamic Conditional Correlation Multivariate Generalized Autoregressive Conditional Heteroskedasticity (DCC MGARCH) models, the authors analyzed daily data from 1996 to 2022. Our findings indicate that these markets experienced bubbles at various points, often followed by bursts. These bubbles coincided with significant economic changes, suggesting a strong link between stock market behavior and economic growth. For instance, financial crises, political instability, and global economic downturns significantly influenced bubble formation and bursts in these markets. The study reveals that market-specific events, such as regulatory changes and shifts in investor sentiment, also contributed to the occurrence of bubbles. Three key policy options are proposed to address bubbles in the studied markets including, enhancing regulatory frameworks to monitor and mitigate bubble formation, improving financial literacy among investors to promote informed decision-making, and strengthening economic policies to stabilize macroeconomic conditions and reduce vulnerability to external shocks. By implementing these measures, policymakers can enhance market stability and foster sustainable economic growth in African stock markets.

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Analysing Rational Bubbles in African Stock Markets: Evidence from Econophysics Frequency Domain Estimates and DCC MGARCH Model

Lawal,

Oseni,

Ahmed

et al. 2024

Economies

View full text Add to dashboard Cite

show abstract

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Time-varying impacts of green credit on carbon productivity in China: New evidence from a non-parametric panel data model

Cited by 1 publication

References 43 publications

Analysing Rational Bubbles in African Stock Markets: Evidence from Econophysics Frequency Domain Estimates and DCC MGARCH Model

Analysing Rational Bubbles in African Stock Markets: Evidence from Econophysics Frequency Domain Estimates and DCC MGARCH Model

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