scholarly journals Testing the causality between Bitcoin price and the gold price in the global market prime by Granger's test

Ekonomika ◽  
2020 ◽  
Vol 66 (3) ◽  
pp. 73-80
Author(s):  
Sanja Dončić
Keyword(s):  
Causal Relationship ◽  
Financial Market ◽  
Historical Data ◽  
Granger Causality Test ◽  
World Market ◽  
Global Market ◽  
The Other ◽  
Causality Test ◽  
The World ◽  
Survey Results

The paper examines the existence of a causal relationship in Grangers' sense between the movement of Bitcoin prices and the price of gold at the global financial market, in order to answer the question whether it is possible to predict the movement of the Bitcoin price based on the movement of the price of gold in the world market, but also vice versa. The survey was conducted from January 1, 2019 to December 1, 2019. In the research was used the Granger causality test (1969). The research results show that historical data on the movement of gold prices in the world market cannot be used to predict the change in value and price movements of Bitcoin. On the other hand, the survey results indicate the possibility of a reliable application of the use of historical data on the movement of value and price of Bitcoin.

scholarly journals MACROECONOMIC ASPECTS OF THE ANALYSIS OF THE WORLD MARKET OF SPACE PRODUCTS AND SERVICES

2019 ◽  
pp. 77-81
Author(s):  
A. Krishtofor
Keyword(s):  
Russian Federation ◽  
World Market ◽  
Global Market ◽  
International Competition ◽  
Organizational Characteristics ◽  
Space Industry ◽  
Space Activity ◽  
The World ◽  
The Russian Federation ◽  
Global Patterns

The main organizational characteristics of the world space industry in the context of increased international competition have been determined. The most characteristic changes in the global market of space products have been identified. The methodology of the analysis of the world market of space products and services has been presented. As a result of the analysis of the successful international experience in the development of the space industry and the trends of the world space activity, the global patterns, that need to be taken into account in the implementation and planning of measures to improve the competitiveness of space activity of the Russian Federation have been revealed.

scholarly journals Dynamic linkage between nifty-fifty and sectorial indices of national stock exchange

2020 ◽  
Vol 3 (2) ◽  
pp. 17-27
Author(s):  
Kamaljit Singh ◽  
Vinod Kumar
Keyword(s):  
Causal Relationship ◽  
Granger Causality ◽  
Unit Root ◽  
Service Sector ◽  
Banking Sector ◽  
Stock Exchange ◽  
Unit Root Test ◽  
Granger Causality Test ◽  
Financial Service ◽  
Causality Test

The main objective of this paper is to analyze the trend and pattern of the Nifty-Fifty and sectorial indices. An attempt has been also made to find out the causal relationship among the Nifty-Fifty and NSE sectorial Indices. The unit root test and Granger-causality test has been applied to check the causal relationship between Nifty-Fifty and sectorial indices. The finding of the study shows that the financial service sector had performed better and followed by the banking sector among all the indices while the Pharma sector and the Realty sector were Under-performed in comparison to other indices. The Nifty-Fifty has been found less volatile in comparison to other sectorial indices however Realty sector indices show the highest volatility during the study period.

scholarly journals The genus Fusicladium (Hyphomycetes) in Poland

2013 ◽  
Vol 41 (2) ◽  
pp. 285-298
Author(s):  
Małgorzata Ruszkiewicz-Michalska ◽  
Ewa Połeć
Keyword(s):  
Historical Data ◽  
The Other ◽  
Distribution Maps ◽  
Central Poland ◽  
The World ◽  
First Time

The paper presents new and historical data on the genus <em>Fusicladium</em> verified on the base of the recently published critical monograph. Fifteen species recorded in Poland under the name <em>Fusicladium</em> and synonymous <em>Pollaccia</em> and <em>Spilocaea</em> are reported; 5 are documented by authors’ materials from Central Poland while the other taxa are supported with literature data only, including three species belonging currently to <em>Fusicladiella</em> and <em>Passalora</em>. Three species, reported here for the first time in Poland: <em>Fusicladium convolvularum</em> Ondřej, <em>F. scribnerianum</em> (Cavara) M. B. Ellis and <em>F. virgaureae</em> Ondřej, are known from a few localities in the world. All the species are provided with the distribution maps and the newly reported ones are illustrated with ink drawings.

scholarly journals Modern trends of the world market of electrical equipment

2021 ◽  
pp. 5-9
Author(s):  
Tetiana AVERIKHINA ◽  
Maryna BURIACHENKO ◽  
Valeriia VASYLIEVA
Keyword(s):  
Renewable Energy ◽  
Smart Grid ◽  
Distribution System ◽  
Distribution Systems ◽  
Renewable Energy Sources ◽  
Electrical Equipment ◽  
World Market ◽  
Global Market ◽  
The World ◽  
Transmission And Distribution

Introduction. The world market of electrical equipment is developing very fast. There are many companies in the market that sell electrical equipment, among them there are companies that occupy leading positions. Today, the world market of energy engineering is estimated at 87 billion dollars per year, based on the structural dynamics of growth, the annual volume can reach 110-115 billion dollars per year until 2025. The global market for energy equipment service in 2020 is 31.7 billion dollars, including: LTSA (long-term service) 47 %, modernization – 20 %, field service – 24 %, engineering – 9 %. The purpose of the paper is to analyze the world market of electrical equipment, determine sales, business growth. The list of leaders in electrical equipment on the world market is considered. Results. The main trends in the world today are the following areas: development of DC transmission system, cable lines for underwater laying and cable for connections of renewable energy sources to reduce energy transmission costs through the capabilities of existing transmission lines, through network voltages and innovative design solutions and installation methods. The amendment for these trends shows us the world leaders in the electrical market, such as Legrand, Schneider Electric, ABB, Siemens, DEKraft, SASSIN, EKF, etc., R&D costs are 3.5–5 % of profits (over 60 years). Thus, we can conclude that the global market for cable networks is developing rapidly. This market is expected to grow in the development of smart grid technologies, renewable energy generation and initiatives to modernize the transmission and distribution system. Conclusion. That the global cable ladder market is developing rapidly. This market is expected to grow in the development of smart grid technologies, renewable energy cultivation and government initiatives to modernize transmission and distribution systems.

scholarly journals Financial Development and Economic Growth: Time Series Analysis of Economy of Pakistan

2018 ◽  
Vol 5 (2) ◽  
pp. 59
Author(s):  
Muhammad Shoukat Malik ◽  
Raisham Hayee ◽  
Raima Adeel
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Time Series Analysis ◽  
Causal Relationship ◽  
Financial Development ◽  
Granger Causality Test ◽  
Growth Time ◽  
Annual Data ◽  
Causality Test ◽  
Stationary Level

This study aims in understanding the causal relationship between financial development and economic growth. This research used annual data and applied dickey fuller test and granger causality test in order to understand stationary level and causation in variables. The results of this test give support to first hypothesis that financial development causes economic growth. While no evidence was found on the support of our second hypothesis i.e. economic growth is causing financial development.

scholarly journals The correlation and volatility between bitcoin and the blockchain index

2020 ◽  
Vol 4 (2) ◽  
pp. 103-115
Author(s):  
Tuotuo Qi ◽  
Tianmei Wang ◽  
Jianming Zhu ◽  
Ruyu Bai
Keyword(s):  
Granger Causality ◽  
Design Methodology ◽  
Granger Causality Test ◽  
External Shocks ◽  
Class Model ◽  
Causality Test ◽  
Content Type ◽  
Blockchain Technology ◽  
The World ◽  
The Relationship

Purpose The encrypted money market has attracted the attention of investors all over the world. Among the encrypted currency, bitcoin is undoubtedly the most popular. Because blockchain technology is the crucial support of bitcoin, exploring the relationship between bitcoin and the blockchain index is necessary. Design/methodology/approach This paper uses the Granger causality test to explore the correlation between bitcoin and the blockchain index. Furthermore, their volatility is analyzed by a GARCH-class model. Findings The results show that no significant correlation exists between bitcoin and the blockchain index; external shocks aggravate the volatility of bitcoin and the blockchain index, and the volatility has a certain degree of sustainability; and blockchain index has obvious leverage, namely, its decline has a stronger impact. Originality/value The volatility of bitcoin and the blockchain index is crucial for investors.

Factors Influencing International Institutional Investments

2020 ◽  
pp. 195-212
Author(s):  
Akriti Gupta ◽  
Gurpreet Kaur ◽  
Mahesh Sarva
Keyword(s):  
Financial Market ◽  
Time Series Data ◽  
Trade Openness ◽  
Global Market ◽  
Series Data ◽  
Institutional Investment ◽  
Flow Of Funds ◽  
The World ◽  
International Investors ◽  
Financial Market Risk

At the turn of the 21st century, globalization of developed and developing countries in the world witnessed institutional inflows from international investors which became the main characteristic of global capital markets. The current research has assessed time-series data from 2000 to 2017 to understand how the different elements that have influenced the foreign institutional investments and helped India become a global market for such investors. The results revealed that political risk, financial market development, trade openness of the country, size of the economy, and rate of return on investment are the important determinants in attracting foreign institutional investments in India. The chapter also found economic risk and financial market risk played an insignificant role in determining foreign institutional investment in India. The findings of the research help the present government and market regulators to introduce policies aimed at increasing the flow of funds from international institutional investors.

scholarly journals ODA and Provincial Economic Growth in Vietnam

2019 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
Dang Ngoc Duc ◽  
Do Thi Ngoc Lan
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Empirical Evidence ◽  
Case Studies ◽  
Causal Relationship ◽  
Granger Causality ◽  
Focal Point ◽  
Causal Effect ◽  
Granger Causality Test ◽  
Causality Test

The focal point of this paper is focused on assessing the causal relationship between ODA and economic growth in the localities of Vietnam. This research uses panel data of ODA and GDP from 63 provinces of Vietnam by using Granger Causality test. The results showed that ODA has a causal effect on economic growth (GDP) and vice versa, economic growth decides to attract ODA in provinces in Vietnam. This result complements studies on the causal relationship between ODA and economic growth using new empirical evidence through case studies in the provinces of Vietnam.

The relationship between energy consumption and gross domestic product in Hong Kong (1992–2015): Evidence from sectoral analysis and implications on future energy policy

2019 ◽  
Vol 31 (2) ◽  
pp. 215-236
Author(s):  
Ruixiaoxiao Zhang ◽  
Geoffrey QP Shen ◽  
Meng Ni ◽  
Johnny Wong
Keyword(s):  
Time Series ◽  
Energy Consumption ◽  
Gross Domestic Product ◽  
Causal Relationship ◽  
Granger Causality ◽  
Value Added ◽  
Granger Causality Test ◽  
Domestic Product ◽  
Causality Test ◽  
Per Capita

The causal relationship between energy consumption and gross domestic product in Hong Kong from 1992 to 2015 is investigated in this study. Different from the previous studies focusing on the causal relationship between total energy consumption and total gross domestic product per capita, this study further investigates the causal relationship from sectoral perspective, including residential, commercial, industrial and transportation sectors. For each sector, the time series data of sectoral energy consumption and sectoral per capita value added are collected. To conduct the Granger causality test, the unit root test is first applied to analyse the stationarity of time series. The cointegration test is then employed to examine whether causal relationship exists in long-term. Finally, based on the aforementioned tests, both vector error correction model and vector autoregression model can be selected to determine the Granger causality between time series. It is interesting to find that the sectoral energy consumption and corresponding sectoral per capita value-added exhibit quite different causal relationships. For both residential sector and commercial sectors, a unidirectional causal relationship is found running from the sectoral per capita value added to sectoral energy consumption. Oppositely, for industrial sector and transportation sector, a unidirectional causal relationship is found running from sectoral energy consumption to sectoral per capita value added. Regarding the Granger causality test results, the indicative suggestions on energy conservation policies, energy efficiency policies and greenhouse gas emission reduction policies are discussed based on the background of Hong Kong’s economic structure and fuel types.

The Influence of International Tourism Receipts on Economic Development: Evidence from China’s 31 Major Regions

2017 ◽  
Vol 57 (7) ◽  
pp. 871-882 ◽  
Author(s):  
Tsung-Pao Wu ◽  
Hung-Che Wu
Keyword(s):  
Causal Relationship ◽  
Granger Causality Test ◽  
Policy Implications ◽  
International Tourism ◽  
Causality Test ◽  
Panel Granger Causality ◽  
Study Support ◽  
Reverse Relationship ◽  
Growth Hypothesis ◽  
Support Evidence

This study applies a bootstrap panel Granger causality test to examine the causal relationship between international tourism receipts and economic growth in China’s 31 major regions for the period from 1995 to 2015, accounting for both dependency and heterogeneity across regions. The empirical results of this study support evidence for the growth hypothesis in the regions, such as Anhui, Henan, Jiangxi, Jilin, Fujian, Jiangsu, Shandong, Tianjin, Chognqing, Inner Mongolia, Qinghai, Tibet, and Yunnan. A reverse relationship supports evidence on the conservation hypothesis for the regions, such as Hubei and Hunan. A reciprocal causal relationship was found in Hebei and Shannxi, while the result of a neutrality hypothesis supported 14 of these 31 major regions (i.e., Heilongjiang, Shanxi, Beijing, Guangdong, Hainan, Liaoning, Shanghai, Zhejiang, Gansu, Guangxi, Guizhou, Ningxia, Sichuan, and Xinjiang). The empirical findings of this work provide important policy implications for China’s 31 major regions.

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