Research Article
The Impact of COVID-19 Epidemic on the Hedging Islamic and Conventional Stock Markets with Financial Assets
Wajdi Hamma*,
Ahmed Ghorbel,
Anis Jarboui
Issue:
Volume 12, Issue 1, March 2024
Pages:
1-24
Received:
24 January 2024
Accepted:
5 February 2024
Published:
2 April 2024
DOI:
10.11648/j.ijebo.20241201.11
Downloads:
Views:
Abstract: This study investigates optimal hedging ratios for Islamic and conventional stock markets during the COVID-19 pandemic using the DCC (Dynamic Conditional Correlation), ADCC (Asymmetric Dynamic Conditional Correlation), and GO-GARCH (Generalized Orthogonal GARCH) models. The effectiveness of various financial assets as hedges is evaluated, and findings indicate that the DJCOM (Dow Jones Commodity), VISTOXX (Euro STOXX 50 Volatility Index), and VIX (Chicago Board Options Exchange Volatility Index) indices exhibit superior effectiveness across both market types, particularly DJCOM showing exceptional performance during the COVID-19 period. The hedging analysis indicates that the hedge ratios vary and depend upon the hedge instrument included in the portfolio. Furthermore, the empirical results indicate that the global impact of the pandemic diminishes the viability of one of the six assets as a safe haven instrument. In conclusion, these findings provide valuable insights for investors and portfolio managers aiming to utilize Gold, Brent, VISTOXX, VIX, CDS (Credit Default Swap), and DJCOM for portfolio rebalancing to mitigate risks associated with volatile Islamic and conventional stock returns. These conclusions contribute significantly to helping investors adjust their investment strategies more effectively and adapt to changing market conditions.
Abstract: This study investigates optimal hedging ratios for Islamic and conventional stock markets during the COVID-19 pandemic using the DCC (Dynamic Conditional Correlation), ADCC (Asymmetric Dynamic Conditional Correlation), and GO-GARCH (Generalized Orthogonal GARCH) models. The effectiveness of various financial assets as hedges is evaluated, and findi...
Show More
Research Article
Linking and Delinking Aspects of Economic Growth and Employment in the Indian Economy: Granger Causality Approach
Altaf Hussain Padder*
Issue:
Volume 12, Issue 1, March 2024
Pages:
25-33
Received:
21 October 2023
Accepted:
6 November 2023
Published:
2 April 2024
Abstract: The purpose of this paper is to provide an overview of various economic growth and employment approaches that have been popular throughout economic history, with a focus on linking and delinking aspects of GDP and employment in the Indian economy. The semi-log quadratic model was used for the trends of GDP and employment across the selected countries. For the determination of the linkages between the variables, the Granger causality test promulgated by Engel and Granger (1987), and the maximum likelihood-based technique of Johansen and Julius (1990) and Johansen (1992) were used in the study. The results found that employment and GDP are two different aspects of an economy not only in the Indian economy but across the majority of the world economies. The results of model specification proved the presence of both long-run and short-run relationships between GDP and employment by the Johansen co-integration test in the Indian economy over the period. It has been found that the increase in GDP is negatively influencing the employment level by the VECM model as a 1 per cent increase in GDP results in 0.28 per cent of job losses in the Indian economy. This study aims to provide an overview of several approaches to economic growth and employment that have been popular throughout economic history up to the present, with an emphasis on linking and delinking aspects of economic growth and employment. In the context of an economy, economic growth and employment are two distinct aspects that should be tackled with separate economic strategies.
Abstract: The purpose of this paper is to provide an overview of various economic growth and employment approaches that have been popular throughout economic history, with a focus on linking and delinking aspects of GDP and employment in the Indian economy. The semi-log quadratic model was used for the trends of GDP and employment across the selected countri...
Show More
Research Article
Investing in the Pioneering Varieties as an Agreement to Attaining Economic Take-off on Smallholder Seed Firms in West Africa
Youcef Abaidia*,
Hocine Lalmi
Issue:
Volume 12, Issue 1, March 2024
Pages:
34-45
Received:
24 November 2023
Accepted:
27 December 2023
Published:
2 April 2024
Abstract: Farmers everywhere depend on access to good quality seed, which is fundamental to their crop production systems. Most governments have made significant investments in strengthening national agricultural production capacities, yet farmers in developing countries still face difficulties in accessing the quality seed of the varieties that they require. Guaranteeing farmers’ access to quality seed can only be achieved through a viable seed supply system that can multiply and distribute seeds, which have been produced or preserved. This is better achieved by the private sector, but medium- to large-scale international seed companies concentrate on high-value crops and avoid dealing in the self-pollinating, open-pollinating and vegetative-propagated varieties on which most smallholder farmers depend for their food security as the biology of these crops makes it easy for farmers to keep their seeds for several seasons. However, smallholders are often seen as the driving force of economic growth, poverty reduction and food security. This is also true for smallholder seed enterprises, which, in the absence of large companies, provide a valid alternative for the production and distribution of food security crops. This paper reviews case studies on smallholder seed enterprise in Côte d’Ivoire, as well as relevant world literature in order to identify key issues that facilitate or constrain the development of the seed sector. The final section provides some guidelines on policy design and implementation to promote the development of sustainable seed enterprises at different stages in the evolution of national seed sectors. It provides examples of good practices and hence seeks to assist governments in identifying ways in which they can support the development of smallholder seed enterprises that will provide the most appropriate varieties to smallholder farmers in their efforts to boost food production.
Abstract: Farmers everywhere depend on access to good quality seed, which is fundamental to their crop production systems. Most governments have made significant investments in strengthening national agricultural production capacities, yet farmers in developing countries still face difficulties in accessing the quality seed of the varieties that they require...
Show More
