We look into determinants (volatility, crises, sentiment and the U.S. ‘fear’ index) of herding using BRICS as our sample. Investors herd selectively to crises and herding is a short-lived phenomenon. Herding was highest during the global financial crisis (only China was affected). There was...

This paper extends the literature of the natural resource curse by proposing the role of innovation in the relationship between natural resource dependence and economic growth within non-linear model. We hypothesize that innovation can help a country to overcome the resource curse through...

The article is time relevant, since a number of countries, such as China and Russia, started pilot testing their digital currencies in 2020, due to the necessity of contactless means of payment during the coronavirus pandemic. The purpose of this research is to revisit the phenomenon of the...

While technological innovation and financial development are broadly credited as important drivers of economic growth of developed nations, their impact on inequality (especially in emerging economies) remains understudied. Thus, the objective of this study is to investigate the impact of...

The purpose of this paper is to measure the financial connectedness and spillover transmission among stock markets between BRICS economies and the rest of the world in the wake of the ongoing Ukrainian crisis in. The paper compares the effect of three different shocks and crises (GFC, COVID-198,...

This study used World Values Survey data to learn the attitude toward tax evasion of sample populations in the four BRIC countries – Brazil, Russia, India and China. The study found that more than 75 percent of the Chinese and Indian samples believed that tax evasion was never justifiable,...

We examine empirical association of dated sovereign security (15 year sovereign bond index) and interest rate of BRICS countries by using weekly data from 2001 to 2010. We used unit root test to check stationarity of data and it was found that one variable (bond) is stationary at level and other...

We investigate the determinants of using formal vs informal financial services to save and borrow within the BRICS countries. Our novelty is (a) we used the new 2021 individual dataset from the Global Findex database, and (b) the employed methodologies are the regression tree and the probit...

We empirically investigate whether the presence of trade openness in a bank-domiciled country affects how banks might employ loan loss provisions to smooth out their earnings, and how adopting IFRS can mitigate it. Using fixed-effect and two-step system panel GMM estimators, we find that trade...

This study aims to fill the gap in the literature by specifically investigating the impact of country risk on the credit risk of the banking sectors operating in Brazil, Russia, India, China, and South Africa (BRICS), emerging countries. More specifically, we explore whether the country-specific...

This paper investigates the role of precious metals in risk management (diversification, hedging, safe haven, leading and lagging roles) in the stock markets of BRICS-T (Brazil, Russia, India, China, South Africa, and Turkiye) countries using DCC-IGARCH-t-copula (Dynamic Conditional Correlation...

This study aims to fill the gap in the literature by specifically investigating the impact of country risk on the credit risk of the banking sectors operating in Brazil, Russia, India, China, and South Africa (BRICS), emerging countries. More specifically, we explore whether the country-specific...

Against the backdrop of the United Kingdom's withdrawal from the European Union (BREXIT), this study examines predictability in the stock markets of sixteen European countries, the United States, and the BRICS (Brazil, China, India, Russia, and South Africa) by analyzing how their returns...

The BRICs economies (Brazil, Russia, India and China) created a buzz with a strong run in the global expansion of the 2000s and the help of a little pumping up of their tires by Goldman Sachs analysts who projected these economies would surpass the advanced countries within a few decades. The...

The standard uncovered interest parity (UIP)—a logarithm version—is inappropriate for currencies with a high interest rate because the interest rate (i) does not satisfy the ln(1 + i) = i condition. Therefore, this study employs the precise form of UIP and evaluates its empirical validity...

The objective of this study is to create optimal two-asset portfolios consisting of stocks from Western Europe, the United States, and the BRICS (Brazil, China, India, Russia, and South Africa), as well as sixteen commodity types during the BREXIT period. We utilized dynamic variances and...

The international regional economic integration is developing to a broader and higher standard. The BRICS countries have been cooperating for a long time. As the representatives of the emerging economies of the world, the establishment of a free trade zone by the BRICS can not only promote...

This paper proposes a model to estimate the dynamic psychological anchor and adjustment speed of investors in stock markets. By employing covariate-dependent threshold settings in regression kink models, we identify the changing psychological anchor and how quickly investors adapt to a target...

Entrepreneurship has recently attracted great attention from researchers due to its enormous growth-enhancing effects. However, the empirical literature has not paid sufficient attention to the explicit relationship between entrepreneurship and economic growth. This paper aims to explore the...

This paper analyzes the effects of real exchange rate volatility on the United States’ exports to BRICS. It focuses on the top 20 export products (defined by the 2-digit Harmonized System codes) from the United States to Brazil, Russia, India, China, and South Africa, and uses quarterly data...

Through globalization and financial market liberalization, the opening up of markets has increased cross-border investments as investors search for higher risk-adjusted returns. This ability to invest internationally has raised the attention given to emerging markets that offer higher...

We compare parametric and machine learning techniques (namely: Neural Networks) for in-sample modeling of the yield curve of the BRICS countries (Brazil, Russia, India, China, South Africa). To such aim, we applied the Dynamic De Rezende-Ferreira five-factor model with time-varying decay...

Long-run relationships and structural breaks have often been confused so that many investigators ignore the structural breaks in long-run stock price relationships. In this paper, we investigate the long-run relationships among stock prices in BRICS countries in a bivariate framework. We used a...

During the past two decades, financial markets across the globe have experienced sporadic waves of crashes. Such waves raise concerns about the vulnerability of global financial markets and the transmission mechanisms of shocks beyond borders. The current study examines the co-movement of stock...

This study aims to determine the impact of carbon dioxide (CO2) emissions, Gross Domestic Product (GDP), and green innovation on the renewable energy (RE) supply (RES) by taking panel heterogeneity and cross-section dependence into account. The dataset of this study covers a panel of BRICS...

The main purpose of this study is to investigate the role of income inequality, per capita renewable and per capita non-renewable energy consumption, per capita income on poverty reduction in BRICS (Brazil, Russia, India, China, South Africa) countries over the period between 1991-2019. This...

This study investigates the tail dependence structures of sovereign credit default swaps (CDSs) and three global risk factors in BRICS countries using a copula approach, which is popular for capturing the “true” tail dependence based on the “distribution-adjusted” joint marginals. The...

In recent years, a number of countries with emerging economies have proceeded to use market-oriented strategies, deregulation and reforms in order to attract more foreign investors and attract foreign direct investment (FDI) inflows. The present paper aims to empirically investigate the role of...

We look into determinants (volatility, crises, sentiment and the U.S. ‘fear’ index) of herding using BRICS as our sample. Investors herd selectively to crises and herding is a short-lived phenomenon. Herding was highest during the global financial crisis (only China was affected). There was...

This study investigated dynamic interaction between globalization and poverty reduction in BRICS countries within the period of 1990 and 2019. This study is motivated by the rising development challenges confronting the world today, in which poverty reduction and the lack of empirical studies...