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  1. Article ; Online: Commodity and financial markets' fear before and during COVID-19 pandemic: Persistence and causality analyses.

    Adekoya, Oluwasegun B / Oliyide, Johnson A

    Resources policy

    2022  Volume 76, Page(s) 102598

    Abstract: Commodity and financial markets are leading points of attraction to investors, but are very sensitive to external crises, such as financial and health crises. An example is the overwhelming plunge in the prices of the assets being traded in most of these ...

    Abstract Commodity and financial markets are leading points of attraction to investors, but are very sensitive to external crises, such as financial and health crises. An example is the overwhelming plunge in the prices of the assets being traded in most of these markets during the COVID-19 pandemic. The pandemic has raised market fear beyond what is historically known, thus calling for an empirical assessment of its degree of persistence. Interestingly, the issue of persistence in financial and commodity markets has not even been generally explored in the literature. Using fractional integration approaches, our findings show that all the considered market fear indices exhibit mean reversion before COVID-19 pandemic, implying that the effect of shocks is transitory. However, persistence is higher during the pandemic period, with fear indices of the gold market (GVZ), energy sector (VXXLE) and Eurocurrency market (EVZ) reaching the unit root zone. The Granger-causality test also reveals that equity market fear due to infectious diseases (EMV-ID) and global market fear (VIX) are responsible for the fear in virtually all other markets during the current COVID-19 pandemic period. Strong policy implications are associated with these findings.
    Language English
    Publishing date 2022-02-22
    Publishing country England
    Document type Journal Article
    ISSN 1873-7641
    ISSN (online) 1873-7641
    DOI 10.1016/j.resourpol.2022.102598
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  2. Article: Predicting carbon allowance prices with energy prices: A new approach

    Adekoya, Oluwasegun B

    Journal of cleaner production. 2021 Feb. 01, v. 282

    2021  

    Abstract: The global economy is consistently concerned with what can accurately predict the price of carbon allowance, a trading concept that resulted from the need to mitigate carbon emissions. This motivates this paper to examine the predictive role of energy ... ...

    Abstract The global economy is consistently concerned with what can accurately predict the price of carbon allowance, a trading concept that resulted from the need to mitigate carbon emissions. This motivates this paper to examine the predictive role of energy prices in the forecast of European Union carbon allowance prices. Using the novel Feasible Quasi Generalized Least Squares estimator which is able to account for the effects of conditional heteroskedasticity, serial correlation, persistence and endogeneity in the predictors, the symmetric predictive model is compared with the asymmetric predictive model to determine if the latter outperforms the former in the forecast performance. The results show that the carbon allowance prices are significantly predicted by all the energy prices considered. However, the asymmetric predictive models for oil and coal prices offer a better forecast performance than their symmetric versions. For natural gas, the results appear mixed, as asymmetries only matter when lower sample size, i.e. 50% of the full sample size, is used. Comparison of the proposed models with traditional models reveals that the former outperform the latter. Robustness is provided for these findings through different sample sizes, various forecast horizons and alternative forecast test. Policy inferences for carbon emissions mitigation and investment purposes are drawn accordingly.
    Keywords European Union ; autocorrelation ; carbon ; coal ; emissions ; energy costs ; heteroskedasticity ; issues and policy ; least squares ; models ; natural gas ; oils ; paper ; prediction ; prices ; sample size
    Language English
    Dates of publication 2021-0201
    Publishing place Elsevier Ltd
    Document type Article
    Note NAL-light
    ISSN 0959-6526
    DOI 10.1016/j.jclepro.2020.124519
    Database NAL-Catalogue (AGRICOLA)

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  3. Article ; Online: Retraction Note: Impact of renewable energy consumption, financial development and natural resources on environmental degradation in OECD countries with dynamic panel data.

    Dagar, Vishal / Khan, Muhammad Kamran / Alvarado, Rafael / Rehman, Abdul / Irfan, Muhammad / Adekoya, Oluwasegun B / Fahad, Shah

    Environmental science and pollution research international

    2024  Volume 31, Issue 18, Page(s) 27507

    Language English
    Publishing date 2024-03-30
    Publishing country Germany
    Document type Retraction of Publication
    ZDB-ID 1178791-0
    ISSN 1614-7499 ; 0944-1344
    ISSN (online) 1614-7499
    ISSN 0944-1344
    DOI 10.1007/s11356-024-33136-w
    Database MEDical Literature Analysis and Retrieval System OnLINE

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    Z 5915: Show issues

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  4. Article ; Online: Economic uncertainty of pandemic and international airlines behaviour.

    Fasanya, Ismail O / Adekoya, Oluwasegun B / Oliyide, Johnson A

    PloS one

    2022  Volume 17, Issue 5, Page(s) e0266842

    Abstract: This paper examines the role of uncertainty due to infectious diseases in predicting twenty International airline stocks within a nonparametric causality-in-quantiles framework. We observe that: First, the BDS test shows that nonlinearity is very ... ...

    Abstract This paper examines the role of uncertainty due to infectious diseases in predicting twenty International airline stocks within a nonparametric causality-in-quantiles framework. We observe that: First, the BDS test shows that nonlinearity is very important when examining the causal relationship between EMV-ID and airline stock returns and its volatility. Second, the nonparametric quantiles-based causality test shows that airline stocks predictability driven by pandemic-based uncertainty is stronger mostly around the lower quantiles, with weak evidences in middle and higher quantiles. Relevant policy implications can be drawn from these findings.
    MeSH term(s) Causality ; Investments ; Pandemics ; Policy ; Uncertainty
    Language English
    Publishing date 2022-05-26
    Publishing country United States
    Document type Journal Article
    ZDB-ID 2267670-3
    ISSN 1932-6203 ; 1932-6203
    ISSN (online) 1932-6203
    ISSN 1932-6203
    DOI 10.1371/journal.pone.0266842
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  5. Article: Quantiles dependence and dynamic connectedness between distributed ledger technology and sectoral stocks: enhancing the supply chain and investment decisions with digital platforms.

    Ghaemi Asl, Mahdi / Adekoya, Oluwasegun B / Rashidi, Muhammad Mahdi

    Annals of operations research

    2022  , Page(s) 1–30

    Abstract: Distributed Ledger Technology (DLT) is highly applicable in various fields, especially the supply chain in many sectors. Against limited empirical evidence, this paper analyzes the relations between the Kensho Distributed Ledger Technology Index and ... ...

    Abstract Distributed Ledger Technology (DLT) is highly applicable in various fields, especially the supply chain in many sectors. Against limited empirical evidence, this paper analyzes the relations between the Kensho Distributed Ledger Technology Index and stock indices of 12 sectors, including communication services, consumer discretionary, consumer staples, energy, health care, financials, industrials, information technology, materials, utilities, and real estate, and ESG by employing the quantile coherency and dynamic connectedness techniques. Our results reveal that the quantile coherency between the DLT stock index and the sectoral stock indices in almost all cases is significant and positive. The positive co-movement tends to be stronger in the longer terms and as we move from the lower to the higher quantiles, implying that they are more strongly connected in the long term and during the bearish market condition. Moreover, the dynamic connectedness indicates that the DLT stocks and the sectoral stocks are highly connected, with the former being a net transmitter of spillover shocks. The spillovers are also time-varying, and the results significantly corroborate those of the quantiles coherency methods. Among other relevant implications, DLT can be an important factor in the development and enhancement of these sectors.
    Language English
    Publishing date 2022-08-17
    Publishing country United States
    Document type Journal Article
    ISSN 0254-5330
    ISSN 0254-5330
    DOI 10.1007/s10479-022-04882-2
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  6. Article ; Online: How COVID-19 drives connectedness among commodity and financial markets: Evidence from TVP-VAR and causality-in-quantiles techniques.

    Adekoya, Oluwasegun B / Oliyide, Johnson A

    Resources policy

    2020  Volume 70, Page(s) 101898

    Abstract: With many commodity and financial markets reportedly experiencing poor performances during this COVID-19 pandemic, this study intends to examine the effect of the pandemic on the connectedness among the markets. There are several reasons that suggest ... ...

    Abstract With many commodity and financial markets reportedly experiencing poor performances during this COVID-19 pandemic, this study intends to examine the effect of the pandemic on the connectedness among the markets. There are several reasons that suggest that apart from the pandemic affecting the performances of the markets, it can also be a driver of their connectedness, coming from the perspective of the global financial cycle channel. Therefore, we first employ the recently developed time-varying parameter vector autoregressions (TVP-VAR) technique to examine the volatility spillover among the commodity and financial assets. We find evidence of strong volatility across the markets, with gold and USD being net receivers of shocks, and others, net transmitters. With this evidence, we proceed to the evaluation of the influence of the COVID-19 pandemic on the connectedness across the markets using both the linear and non-linear (causality-in-quantiles) causality tests. The causality-in-quantiles test outperforms the linear Granger-causality test, and the results show significant causal impacts of the two measures of COVID-19 pandemic (infectious diseases-based equity market volatility and the growth rate of the U.S. COVID-19 reported cases) on the connectedness across the markets, especially at the lower and middle-level quantiles. Overall, these findings prove that the pandemic has been largely responsible for risks transmission across various commodity and financial markets. This is because it has significantly raised investors' and policy uncertainties and immensely altered global financial cycle which in turn results in global flows of capital, and movements in the prices of assets across different financial markets.
    Language English
    Publishing date 2020-10-20
    Document type Journal Article
    ISSN 1873-7641
    ISSN (online) 1873-7641
    DOI 10.1016/j.resourpol.2020.101898
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  7. Article ; Online: China's technological spillover effect on the energy efficiency of the BRI countries

    Adekoya, Oluwasegun B. / Oliyide, Johnson A. / Kenku, Oluwademilade T. / Ajayi, Oluwafisayo F.

    Energy Policy. 2023 Nov., v. 182 p.113740-

    2023  

    Abstract: Given the rising technological progress and infrastructural developments among the Belt and Road Initiative (BRI) countries and the global move towards a reduction in the use of fossil fuels to mitigate climate change, this study aims to examine the role ...

    Abstract Given the rising technological progress and infrastructural developments among the Belt and Road Initiative (BRI) countries and the global move towards a reduction in the use of fossil fuels to mitigate climate change, this study aims to examine the role of technological innovation in the countries' energy efficiency to. We discover that energy intensity is increased by endogenous technological innovation in the BRI countries, especially at the middle and higher quantiles. We then remove China from the panel in order to check if the country's high technological advancement and energy efficiency might have an outlying influence on the relationship. Except for a relative decline in the significant estimates across the quantiles, the direction of effect largely remains. Finally, China's technological innovation has a reducing spillover effect on the energy intensity of the BRI countries. These findings indicate that, while endogenous technological innovations are detrimental to the energy efficiency of the BRI countries, China's technologies are energy efficient for the other BRI countries, and should be adopted or absorbed to reduce dependence on fossil fuels.
    Keywords climate change ; decline ; energy efficiency ; energy policy ; technology ; China ; Technological innovation ; Technological spillover ; BRI countries
    Language English
    Dates of publication 2023-11
    Publishing place Elsevier Ltd
    Document type Article ; Online
    ISSN 0301-4215
    DOI 10.1016/j.enpol.2023.113740
    Database NAL-Catalogue (AGRICOLA)

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  8. Article ; Online: Unregulated economic activities and the environment: The role of fiscal policies.

    Adekoya, Oluwasegun B / Daniel, Omolara O / Ogunbowale, Gideon O / Al-Faryan, Mamdouh Abdulaziz Saleh

    Journal of environmental management

    2023  Volume 349, Page(s) 119533

    Abstract: African countries are characterized by high unofficial activities, coupled with a fiscal structure that could either undermine or promote these activities to affect the environment. This study examines the direct and indirect environmental impacts of the ...

    Abstract African countries are characterized by high unofficial activities, coupled with a fiscal structure that could either undermine or promote these activities to affect the environment. This study examines the direct and indirect environmental impacts of the unregulated economy and the fiscal instruments of government expenditure and tax using the panel quantiles regression technique. Driven by data availability, our analysis covers 46 countries when the fiscal variables are not considered, while 41 and 38 countries are respectively included in the models involving government expenditure and tax revenue from 2000 to 2016. We discover that the direct impact of unofficial economic activities is unfavourable on the environment, as it increases carbon emissions. The direct impacts of the fiscal policies are heterogeneous. The environmental effect of government expenditure changes from favourable to unfavourable as the countries move from low to high emissions levels. On the other hand, tax is only environmentally friendly in countries with moderate levels of emissions. The interactive effect of an unregulated economy and government expenditure worsens and improves the environment at low and high emissions levels, respectively. The results are heterogeneous for the interactive effect of unregulated economy and tax, although they are more biased toward a satisfactory impact on the environment at the extreme quantiles. Appropriate regulation of informal activities and the design of effective fiscal policy frameworks for environmental sustainability are policy derivatives of these findings.
    MeSH term(s) Fiscal Policy ; Health Expenditures ; Taxes ; Africa ; Economic Development ; Carbon Dioxide/analysis
    Chemical Substances Carbon Dioxide (142M471B3J)
    Language English
    Publishing date 2023-11-15
    Publishing country England
    Document type Journal Article
    ZDB-ID 184882-3
    ISSN 1095-8630 ; 0301-4797
    ISSN (online) 1095-8630
    ISSN 0301-4797
    DOI 10.1016/j.jenvman.2023.119533
    Database MEDical Literature Analysis and Retrieval System OnLINE

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    In stock of ZB MED Bonn / Germany

    Z 7556: Show issues

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  9. Article ; Online: Economic uncertainty of pandemic and international airlines behaviour.

    Ismail O Fasanya / Oluwasegun B Adekoya / Johnson A Oliyide

    PLoS ONE, Vol 17, Iss 5, p e

    2022  Volume 0266842

    Abstract: This paper examines the role of uncertainty due to infectious diseases in predicting twenty International airline stocks within a nonparametric causality-in-quantiles framework. We observe that: First, the BDS test shows that nonlinearity is very ... ...

    Abstract This paper examines the role of uncertainty due to infectious diseases in predicting twenty International airline stocks within a nonparametric causality-in-quantiles framework. We observe that: First, the BDS test shows that nonlinearity is very important when examining the causal relationship between EMV-ID and airline stock returns and its volatility. Second, the nonparametric quantiles-based causality test shows that airline stocks predictability driven by pandemic-based uncertainty is stronger mostly around the lower quantiles, with weak evidences in middle and higher quantiles. Relevant policy implications can be drawn from these findings.
    Keywords Medicine ; R ; Science ; Q
    Language English
    Publishing date 2022-01-01T00:00:00Z
    Publisher Public Library of Science (PLoS)
    Document type Article ; Online
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

    Full text online

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  10. Article ; Online: How COVID-19 drives connectedness among commodity and financial markets

    Adekoya, Oluwasegun B. / Oliyide, Johnson A.

    Resources Policy

    Evidence from TVP-VAR and causality-in-quantiles techniques

    2020  , Page(s) 101898

    Keywords Economics and Econometrics ; Sociology and Political Science ; Law ; Management, Monitoring, Policy and Law ; covid19
    Language English
    Publisher Elsevier BV
    Publishing country us
    Document type Article ; Online
    ZDB-ID 1500719-4
    ISSN 0301-4207
    ISSN 0301-4207
    DOI 10.1016/j.resourpol.2020.101898
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

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