The source of financial contagion and spillovers: An evaluation of the covid-19 pandemic and the global financial crisis

This study investigates the reaction of stock markets to the Covid-19 pandemic and the Global Financial Crisis of 2008 (GFC) and compares their influence in terms of risk exposures. The empirical investigation is conducted using the modified ICSS test, DCC-GARCH, and Diebold-Yilmaz connectedness analysis to examine financial contagion and volatility spillovers. To further reveal the impact of these two crises, the statistical features of tranquil and crisis periods under different time intervals are also compared. The test results show that although the outbreak’s origin was in China, the US stock market is the source of financial contagion and volatility spillovers during the pandemic, just as it was during the GFC. The propagation of shocks is considerably higher between developed economies compared to emerging markets. Additionally, the results show that the COVID-19 pandemic induced a more severe contagious effect and risk transmission than the GFC. The study provides an extensive examination of the COVID-19 pandemic and the GFC in terms of financial contagion and volatility spillovers. The results suggest the presence of strong co-movements of world stock markets with the US equity market, especially in periods of financial turmoil.

THE ECONOMIC IMPACT OF DIGITALISATION IN INDIAN SOCIAL AND EDUCATION SECTOR

Digital technology is the usage of modern scientific technology and its implementation in most of the sectors, e-administration and the education sector can be the better example for this digitalisation. In the history of digitalisation we can find by sources that, most of the developed economies in the world were using digital technology from the pat decades, but developing countries in the world are using digital implementation a positive factor for sustainable development for the social development of a nation with good legal system in a country and leads to Indian economic growth and social development. Digitalisation benefits in e-education like conferences, MOOC (Massive Open Online Courses), Digital libraries can be taken as a better example for academic progress by the usage of digitalisation, In India digitalisation is playing a vital role from almost 1.5 years, because of lot of demand due to pandemic covid-19 and lockdown situation, India has to take a appositive steps to implementation of digitalisation in all public and private sectors for positive social-economic growth, for digital education, as koutilya mentioned economics and social-political system and law in Arthashastra

Causes and Consequences of the Migration of Scientists and Students from the Brics Countries to Developed Economies

One of the major problems in the relationship between the Global South and the Global North is the the drain of intellectual capital from the economies and education systems of the most developed countries of the Global South, which bothers both developing countries and some European ones. The purpose of the study is to reveal the reasons for the migration of scientists and students from Brazil, the Russian Federation, India, China, South Africa (BRICS countries) and identify the consequences of the process through the example of a Russian university by studying the characteristics of personal experience and motivation of students and teachers. The research is devoted to the study of academic activity abroad and the attitude of 360 four- and five-year students and 321 teachers at Novosibirsk State University (Novosibirsk, the Russian Federation) towards the practice. The survey results revealed that a relatively small number of respondents (31.07% of teachers and 9.03% of students) have experience of foreign academic activity; the large majority of participants highly assessed the possibility of studying and working abroad (4.87 and 3.48 on a 5-point Likert scale among teachers and students, respectively). The results of the study are in line with the findings of similar studies on academic migration in other BRICS countries; therefore, they can be extrapolated in a broader context. In particular, according to all respondents, the possibility of repeated or circular migration is extremely low (0.88 and 1.61). The research results can help to manage international research and exchange programs, as well as to regulate university training programs and academic migration. The novelty of the study lies in the analysis of the motivation of scientists and students on academic migrating and their assessment of migration intentions based on an example of a single educational institution and region.

Exploring connections within the technology-based entrepreneurial ecosystem (EE) in emerging economies: understanding the entrepreneurship struggle in the Indonesian EE

Purpose Tech startup is the new hope for sustaining economic growth and job creation in a knowledge-based economy. However, research on the entrepreneurial ecosystem (EE) is always constructed upon macro-level analysis and is still very limited to the developed economies. This study aims to tackle those issues by exploring the connections within an EE in an emerging economies context with a micro and meso-level social network approach to unravel the pattern of networks and interactions between each actor in the EE. Design/methodology/approach This research used multi-layered social network analysis, exploring actors in the ecosystem and their interactions. The authors conducted interviews with startups, support organizations and government agencies. The authors used Atlas.ti software to visualize the network structures. Findings The authors found that the content of interaction within the EE in the emerging economies differs greatly with EE in the developed economies and they produced distinctive characteristics as follows: lack of a dense network, resource scarcities and structural gaps and weak institutional policies. Research limitations/implications The research is based on a case study of tech-based EE in Yogyakarta, Indonesia. Therefore, the authors encourage other researchers to investigate networks and connections in other EEs in emerging economies. This research contributes a conceptual framework to better understand the network of connections in an emerging-economies-based EE. Practical implications The research shows grants provision alone cannot contribute to the functioning of EE. The authors argue strategic networks which promote collaboration among actors can reduce holes and structural gaps, as well as resource scarcities in the ecosystem. In addition to that, strong institutional policies and effective policy integration are needed to create a successful EE. Social implications This research promotes the importance of networks, particularly networks between tech startups and strategic organizations to provide resources and support productive entrepreneurship in hopes of sustaining and accelerating tech startup growth within an EE. Originality/value The research proposes to add to the existing EE literature by shedding light on governance of EE, as well as exploring network of connection and interaction among actors within the ecosystem. As a result, the study addresses the need for a more micro or operational-level understanding of an EE. Recent calls for EEs literature have also focused on a certain actor’s dynamic function in the ecosystem. By focusing on the role of the government, the research added to the underdeveloped EE literature.

Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek ISBN 978-3-03943-597-5

The advent of the fourth industrial revolution, Industry 4.0, brings about both opportunities and challenges that are likely to set developed economies even farther apart from emerging economies. This book, through the perspective of researchers in the emerging markets, presents analyses on a number of issues important to entrepreneurial finance, such as debt financing, mergers and acquisitions, stock market efficiency, resource allocation and consumption, and sustainable development.

Technische Universität Braunschweig ISBN 978-3-03943-597-5

The advent of the fourth industrial revolution, Industry 4.0, brings about both opportunities and challenges that are likely to set developed economies even farther apart from emerging economies. This book, through the perspective of researchers in the emerging markets, presents analyses on a number of issues important to entrepreneurial finance, such as debt financing, mergers and acquisitions, stock market efficiency, resource allocation and consumption, and sustainable development. It aims at improving our understanding of the financing needs as well as the financial risks involved in entrepreneurial endeavors in less developed settings in the new era.

Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße ISBN 978-3-03943-597-5

The advent of the fourth industrial revolution, Industry 4.0, brings about both opportunities and challenges that are likely to set developed economies even farther apart from emerging economies. This book, through the perspective of researchers in the emerging markets, presents analyses on a number of issues important to entrepreneurial finance, such as debt financing, mergers and acquisitions, stock market efficiency, resource allocation and consumption, and sustainable development. It aims at improving our understanding of the financing needs as well as the financial risks involved in entrepreneurial endeavors in less-developed settings in the new era.

Niedersächsische Staats- und Universitätsbibliothek Göttingen

The advent of the fourth industrial revolution, Industry 4.0, brings about both opportunities and challenges that are likely to set developed economies even farther apart from emerging economies. This book, through the perspective of researchers in the emerging markets, presents analyses on a number of issues important to entrepreneurial finance, such as debt financing, mergers and acquisitions, stock market efficiency, resource allocation and consumption, and sustainable development. It aims at improving our understanding of the financing needs as well as the financial risks involved in entrepreneurial endeavors in less developed settings in the new era.