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- Granger causality (5)
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Articles 1 - 11 of 11
Full-Text Articles in Business
Introduction, Noel Gaston, Ahmed M. Khalid
Introduction, Noel Gaston, Ahmed M. Khalid
Ahmed Khalid
Extract: Globalization is very much part of the modern vernacular. Arguably, it was first used by McLuhan and Fiore (1968) when they introduced the concept of the ‘global village’. Globalization is characterized by the growth of the international trade of goods and services, the growth in foreign direct investment (FDI) as well as the political and social linkages that accompany growing economic integration. Outwardly, the driving forces seem to be the decline in administrative barriers to trade, sharp falls in the costs of transportation and communication, fragmentation of production processes and the development in information and communication technologies (ICT). Arguably, …
Post-Keynesian Money Endogeneity Evidence In G-7 Economics, Zatul Badarudin, Mohamed Ariff, Ahmed Khalid
Post-Keynesian Money Endogeneity Evidence In G-7 Economics, Zatul Badarudin, Mohamed Ariff, Ahmed Khalid
Ahmed Khalid
This study is a methodological evaluation of studies on importance and performance measurement, and importance–performance analysis (IPA) which has gained widespread acceptance in the hospitality and tourism research. A synthesis of IPA literature on conceptual and measurement issues is presented with a view to identifying and mitigating potential validity concerns.
Trade Liberalisation And Growth: A Threshold Expectation, Rod Falvey, Neil Foster-Mcgregor, Ahmed Khalid
Trade Liberalisation And Growth: A Threshold Expectation, Rod Falvey, Neil Foster-Mcgregor, Ahmed Khalid
Ahmed Khalid
Openness and trade liberalisation variables are consistently estimated to have significant positive coefficients in panel growth regressions. Many arguments have been advanced as to why and how more open or liberalised economies might grow faster, but the specific channels this process uses have begun to be investigated only recently. We continue these efforts by including a variable identifying the date of trade liberalisation in a system of equations that captures the determinants of growth in per capita income. Four ‘channels’ are considered: capital formation, the share of government, the economy’s openness to trade and its price distortions. We include the …
Gfc: Origin, Consequence And Cost, Mohamed Ariff, Ahmed Khalid
Gfc: Origin, Consequence And Cost, Mohamed Ariff, Ahmed Khalid
Ahmed Khalid
No abstract provided.
The Impact Of Political Events On Financial Market Volatility: Evidence Using A Markov Switching Process, Ahmed M. Khalid, Gulasekaran Rajaguru
The Impact Of Political Events On Financial Market Volatility: Evidence Using A Markov Switching Process, Ahmed M. Khalid, Gulasekaran Rajaguru
Ahmed Khalid
This paper investigates the impact of political shocks (positive and negative) on financial markets. Using data from Pakistan for the period January 1999 to September 2006, we link ‘a’ political event to the financial market volatility. We use high frequency data from three indicators (currency, stock and money market) of the financial market for empirical estimation. We employ a Markov Switching process to identify the low and high volatility regimes in Pakistan’s financial market and then link these regimes to certain political events. We use data on daily observations of exchange rates, stock prices and interest rates to perform empirical …
Globalization And Integration In The Asia-Pacific: Prospects And Risks, Noel Gaston, Ahmed Khalid
Globalization And Integration In The Asia-Pacific: Prospects And Risks, Noel Gaston, Ahmed Khalid
Ahmed Khalid
Extract: Globalization is very much part of the modern vernacular. Arguably, it was first used by McLuhan and Fiore (1968) when they introduced the concept of the "global village". Globalization is characterized by the growth of the international trade of goods and services, the growth in foreign direct investment (FDI) as well as the political and social linkages that accompany growing economic integration. Outwardly, the driving forces seem to be the decline in administrative barriers to trade, sharp falls in the costs of transportation and communication, fragmentation of production processes and the development in information and communication technology OCT). Arguably, …
Market Development For Fixed Income Securities: The Role Of Socio-Economic And Institutional Factors, Ahmed M. Khalid, Gulasekaran Rajaguru
Market Development For Fixed Income Securities: The Role Of Socio-Economic And Institutional Factors, Ahmed M. Khalid, Gulasekaran Rajaguru
Ahmed Khalid
It is well understood that bond markets play an important role in the development of the overall financial sector. Bond markets also help to make efficient investment and financing decisions, to improve efficiency in the design and implementation of monetary policy, provide financial stability by mitigating rollover risk and interest rate risk for the borrowers, provide an alternative source of finance to firms and thus reduce the monopoly of the banking sector. Given the importance of this market, this paper aims to investigate the factors that may be important for developing a market for domestic bonds. First, we discuss the …
Financial Market Contagion: Evidence From The Asian Crisis Using A Multivariate Garch Approach, Ahmed M. Khalid, Gulasekaran Rajaguru
Financial Market Contagion: Evidence From The Asian Crisis Using A Multivariate Garch Approach, Ahmed M. Khalid, Gulasekaran Rajaguru
Ahmed Khalid
Recent trends of globalization and financial market internationalization have exposed the vulnerability of many emerging financial markets to external shocks and spillover effects from regional crisis. It is believed that similar spillover effects were the root cause of the 1997 financial crisis that faced many emerging economies in Asia. This study attempts to investigate the spillover effects of the 1997 Asian financial crisis using data from a sample of selected Asian countries. For empirical estimation, we use high frequency data (daily observations) on exchange rates from 1994 to 2002, construct a multivariate GARCH model and apply the Granger causality test …
The Global Impact Of The Russian Financial Crisis: Evidence Using Granger Causality And Impulse Reponses In A Var Model, Ahmed Khalid, Gulasekaran Rajaguru
The Global Impact Of The Russian Financial Crisis: Evidence Using Granger Causality And Impulse Reponses In A Var Model, Ahmed Khalid, Gulasekaran Rajaguru
Ahmed Khalid
This study attempts to investigate the financial market contagion in a global perspective. We use a large sample of 26 countries representing different regions in the world and focus on the spillover effects of the 1998 Russian crisis. We use daily observations on three financial market indicators namely, the exchange rates, stock prices and interest rates. We construct a VAR to test the interlinkages among different market and different regions using the Granger causalfiy. Later, we perform impulse response analysis by introducing a shock in each of the Russian market and observe the impact and duration of this shock on …
Testing Twin Deficits Hypothesis Using Vars And Variance Decomposition, Ahmad Zubaidi Baharumshah, Evan Lau, Ahmed M. Khalid
Testing Twin Deficits Hypothesis Using Vars And Variance Decomposition, Ahmad Zubaidi Baharumshah, Evan Lau, Ahmed M. Khalid
Ahmed Khalid
This paper examines the twin deficits hypothesis in the ASEAN countries. The major findings of this paper are the following. (1) Long run relationships are detected between budget and current account deficits. (2) The Keynesian view fits well for Thailand since the causality runs from budget deficit to current account deficit. For Indonesia, the causality runs in an opposite direction while the empirical results indicate that a bidirectional pattern of causality exists for Malaysia and the Philippines. (3) We also found support for an indirect causal relationship that runs from budget deficit to higher interest rates, and higher interest rates …
Financial Market Contagion: Evidence From The Asian Crisis Using A Multivariate Garch Approach, Ahmed M. Khalid, Gulasekaran Rajaguru
Financial Market Contagion: Evidence From The Asian Crisis Using A Multivariate Garch Approach, Ahmed M. Khalid, Gulasekaran Rajaguru
Ahmed Khalid
Recent trends of globalization and financial market internationalization have exposed the vulnerability of many emerging financial markets to external shocks and spillover effects from regional crisis. It is believed that similar spillover effects were the root cause of the 1997 financial crisis that faced many emerging economies in Asia. This study attempts to investigate the spillover effects of the 1997 Asian financial crisis using data from a sample of selected Asian countries. For empirical estimation, we use high frequency data (daily observations) on exchange rates from 1994 to 2002, construct a multivariate GARCH model and apply the Granger causality test …