Applied Economics Letters

Ngoc, Bui Hoang; Hai, Le Mai

doi: 10.1080/13504851.2022.2130865pmid: N/A

Eliminating inequality is one of the United Nations’ 2030 sustainable development goals. However, quick growth and tourism development may increase the income gap between the higher- and lower-income classes. This study is conducted to analyse the lead-lag connectedness between three vital macroeconomic variables and income inequality from 1978 to 2019 in Singapore, a top-visited country. By adopting wavelet techniques, the outcomes reveal that tourism development (TO) positively drives income inequality (IE) at medium- and high-frequency, while economic growth (GDP) strongly impacts IE at medium frequency. Similarly, human capital (HDI) negatively influences IE during the same period. Based on these findings, the research suggests helpful lessons for Singapore and emerging countries in reducing income inequality.

Yu, Guang Zhuang; Liu, Chun Chu; Piao, Meilan; Li, Donglin

doi: 10.1080/13504851.2022.2131708pmid: N/A

With the advent of the Internet era in recent years, social music education has gradually shifted from the original entity education mode to the mode of entity plus network teaching. No matter for school music education, professional music education or social music education, the teaching quality is the most important evaluation index. This research firstly found out the basic dimensions that accord with the teaching quality required by the three parties, constructing the quality evaluation index system; and then, on the basis of expounding the connotation of each index, it determined the weight of each index by using method of fuzzy analytic hierarchy process, providing ideas and methods for scientific, objective and comprehensive evaluation of the teaching quality of network education APP.

He, Zhifang; Zheng, Jie

doi: 10.1080/13504851.2022.2131709pmid: N/A

This paper examines the impact of country-specific and global economic policy uncertainty (EPU) on the time-varying risk – return relationship in G7 stock markets and explores whether this impact is significantly different during the 2008 Global Financial Crisis (GFC). Empirical results suggest that the risk – return trade-off varies with many factors. More importantly, we find that both the national and global EPU shocks have significant and negative impacts on the time-varying risk – return relationship in all G7 countries, and these negative impacts increase and intensify during the GFC.

Ropele, Tiziano; Tagliabracci, Alex

doi: 10.1080/13504851.2022.2131710pmid: N/A

Using data from an Italian business survey and a quasi-experimental analysis, we document the effects of the Russian invasion of Ukraine on firms’ expectations. The conflict led firms to revise upward their inflation expectations and their own expected prices changes and made them more pessimistic about the general macroeconomic outlook and their business conditions. These effects did not materialize immediately after the Russian invasion but built up in the second and third weeks thereafter.

Liu, Xin; Li, Bowen

doi: 10.1080/13504851.2022.2131711pmid: N/A

This paper investigates the price and risk dynamics of Bitcoin. Applying SVAR to study Bitcoin, gold and U.S. dollar in one system, we find that neither the gold nor U.S. dollar can explain Bitcoin pricing dynamics in the short-run. We further apply the DCC-MGARCH model to study the risk correlations. The results show that there exists volatility spillover effect and dynamic correlation between three markets, which is magnified with the advent of COVID-19. We can thus draw a conclusion that the boom of Bitcoin is just a hype and speculative bubble.

Qiu, Xuemei; Zhang, Xuehua

doi: 10.1080/13504851.2022.2131712pmid: N/A

This paper is the first to construct social network indicators that bring together the individual and organizational levels to examine how social networks can moderate the adverse effects of EPU on corporate finance. An empirical study of Chinese A-share listed firms from 2007–2018 shows that the corporate debt costs of firms with a better social network are less exposed to a poor economic policy uncertainty environment relative to firms with a poor social network, and the results pass a series of robustness tests.

Duan, Mengran; Dong, Tianyi

doi: 10.1080/13504851.2022.2132203pmid: N/A

This study compares the unity-of-command principle with the shared-command principle based on China’s unique institutional background. Our findings show firms with higher power gap between chairman and CEO exhibit better performance, implying the unity-of-command principle is more effective for most organizations. However, the empirical results also show there is an optimal value for the power gap, as it becomes harmful for the firm performance after exceeding the threshold value. The results remain consistent after solving the endogeneity problem. Overall, our findings provide solid evidence for the debate on the unity-of-command principle and the shared-command principle.

Hou, Hui; Wu, Sen; Zhang, Minghao; Hou, Shilin

doi: 10.1080/13504851.2022.2132204pmid: N/A

Puppeteer crawler technology is used to obtain regional industrial policy documents, and we make classification and assignment from the perspective of the legal effect of industrial policy documents to quantify industrial policy variable. At the same time, Super-SBM model is used to measure energy efficiency in different areas, and spatial Durbin model is constructed according to the panel data of 30 provinces in China from 2006 to 2018. The main conclusions are as follows : (1) The spatial distribution of China’s energy efficiency has a remarkable positive correlation from the global perspective. (2) The local industrial policy has a significant positive effect on its energy efficiency, while a negative spatial effect on energy efficiency in neighbouring regions.

Goswami, Gour Gobinda; Saha, Tapas Kumar

doi: 10.1080/13504851.2022.2132205pmid: N/A

The primary purpose of this article is to conduct the Fourier Nonlinear Unit Root Test to check Purchasing Power Parity (PPP) for seven cryptocurrencies traded in seventeen countries from 2010 to 2021. The unit root test supports the PPP hypothesis when we use each cryptocurrency separately for all the countries. However, the PPP hypothesis is strongly supported when we pool them together by countries and cryptocurrencies. This finding is in line with the power of the test issue of the PPP for regular PPP testing, which also holds good in cryptocurrencies.

Avom, Désiré; Ndoya, Hermann

doi: 10.1080/13504851.2022.2133890pmid: N/A

This paper empirically examines the effect of country stability on economic complexity. Using a panel dataset of 118 countries from 1995 to 2018 and system generalized method of moments estimation, we find that country stability spurs economic complexity. Additionally, we find that foreign direct investment, financial development and human capital are the channels through which country stability affects economic complexity.