ABSTRACT This paper aims to examine the effect of the budget balance on national financial security in the linkage of macroeconomic variables by using the VAR model approach from 1995 to 2020 in Vietnam. Moreover, the methods of Impulse Response Function (IRF) and variance decomposition (FEDV) analysis show the impact of budget balance on the financial security situation in the short run. The results indicate that budget balance has a positive effect in the short term and explains about 2.04% of Vietnam’s financial security index. Several policy implications are suggested to enhance the financial stability in Vietnam during the Covid-19 pandemic.

ABSTRACT Relationship between stock prices and economic activities at primary, secondary and tertiary sectors was missing in the previous literature. We fill this gap using quarterly data spanning 2010Q1–2019Q4 for Nigeria. Our empirical evidence is based on the autoregressive distributed lag model and Toda–Yamamoto Granger causality test with structural break frameworks. We prove that stock prices greatly boost short-run primary sector activities and short- and long-run secondary and tertiary sectors activities. Unidirectional causality is observed from primary sector activities to stock prices and from stock prices to tertiary sector activities while bidirectional causality between stock prices and secondary sector activities is documented.

ABSTRACT This study shows how internal and international migration either it is permanent or temporary migration influences the foreign investors’ interest first in the form of foreign capital inflow, second in the form of agglomeration of foreign investment enterprises, and third in the form of FDI disparity at the county level. Our estimates suggest socio-economic pull factors like GDP per capita, population and production are significant for FDI inflow in Great Plain and North region while in the Transdanubia region, results are varied according to the FDI regional distribution.

ABSTRACT This study examines discretionary fiscal policy effects on output by employing a Panel VAR model in MENA countries during 1990–2018. the results demonstrate fiscal multipliers are larger when public debt is low, at a high institutional quality, and during recession periods. Contrary to empirical studies, we found the response of output to fiscal shocks is larger at a low level of financial development. Our findings have significant policy implications focusing on fiscal policy mix in downturns of an economy, lower levels of public debt, lower levels of financial development, and a higher level of institutional quality.

ABSTRACT We analyse the responses of the monetary policy of five (Brazil, Chile, Mexico, India, and South Africa) emerging market economies (EME) to domestic and external (U.S.) shocks. We argue that the domestic policy rate is sensitive to risk premiums, financial markets, and the world economy, showing that Taylor’s Rule can benefit from the inclusion of these variables to understand the behaviour of the monetary authority. Therefore, our results suggest the following: i) policy rates are affected by risk premiums, ii) domestic monetary policy is affected by exchange rates, stock markets, and the U.S. and iii) there is heterogeneity in the factors explaining the behaviour of central banks.

ABSTRACT This study is to examine the effect of trust on perceptions of ease of use, as well as its impact on attitudes and interests in using internet banking. This research employed a survey method, where samples were selected from a population. This research took place in national banking institution in East Java. The population of this study were individuals who made transactions using internet banking of Bank BCA, Mandiri, BNI, BII and Bank CIMB Niaga in East Java. This research confirms the suitability of TPB and TAM as appropriate models in explaining individual attitude in adopting internet banking.

ABSTRACT There is a relative absence of research that addresses the role of IPO grading on Earnings management (EM) in India. This study examines the earnings management practices among Indian companies that went for IPOs during the mandatory IPO grading era and the optional IPO grading era. The study covers 351 companies that went public for the first time in India from 2008 to 2022. The study found that the AEM practices proxied by discretionary accruals are decreasing during the grading era and increasing in the optional grading era. On the other hand, REM is found to be increasing in the grading era and decreasing in the optional era.

ABSTRACT Since the food component has a large weight in the CPI basket and food inflation plays one of the main roles in determining the headline inflation in Iran, this paper looks at connections between monetary policy, currency crisis, sanction and food price. To examine the dynamics and asymmetric effects of these relationships, we employ quantile regression. Empirically, we show that the coefficients of monetary policy, exchange rate and currency crisis on the food prices in different quantiles are positive and significant. In most cases, we show that food prices in Iran are responsive to the price of oil.More importantly, the inflation of food is strongly linked to economic sanctions, and the effect is significant across all quantiles. To verify robustness, the food price model was estimated using ARDL model as an alternative. The present study came up with the same results when compared to quantile regression.Eventually, asymmetric effects at different quantiles were confirmed.

ABSTRACT This study examines how family firms adjust their leverage towards optimal leverage. We use the dynamic system generalized method of moments (GMM) for analysis. The findings reveal that South Asian family firms adjust about 24% towards target leverage using market leverage and about 28% while using book leverage. The findings further suggest that growth opportunities, GDP growth rate, distance, lending rate, term spread, and short-term interest rate increase the speed of adjustment towards the target leverage. On the contrary, profitability and differential between the T-bills rate and the bank rate decrease the speed of adjustment.

ABSTRACT The motivation of this study is to gauge the asymmetric effects of economic policy uncertainty (EPU) on institutional quality (IQ) in India (Pakistan), spanning the period 2003Q1 to 2019Q4 (2010Q1 to 2019Q4). The study applied DF-GLS and Zivot–Andrew, ARDL bound test, nonlinear ARDL and directional causal with the Toda-Yamamoto causality test. According to the combined cointegration test, the long-run economic policy uncertainty was exposed to adverse association with institutional quality in India and Pakistan. Both long-run and short-run asymmetries were confirmed between EPU and IQ. The causality test revealed the feedback hypothesis in explaining the causality between EPU and IQ.