Economies, Vol. 12, Pages 97: Tax Complexity and Firm Tax Evasion: A Cross-Country Investigation Economies doi: 10.3390/economies12050097 Authors: Prianto Budi Saptono Gustofan Mahmud Fauzilah Salleh Intan Pratiwi Dwi Purwanto Ismail Khozen This paper endeavours to investigate whether a complex tax system influences firms’ propensity toward tax evasion across countries. To achieve the objectives of this study, we utilised the World Bank Enterprise Survey and the World Bank’s Doing Business databases covering more than 46,000 companies from 83 countries. Our study re ..read more

Economies, Vol. 12, Pages 96: Exchange Rate Regimes in India: Central Bank Interventions and Purchasing Power Parity in the Context of ASEAN Currencies Economies doi: 10.3390/economies12040096 Authors: Siddharth Alexiou Vogiazas : In this study spanning four decades, we explored the relationship between the Reserve Bank of India’s (RBI) interventions and the validity of Purchasing Power Parity (PPP) across two distinct exchange rate regimes: the fixed exchange rate regime (1975–1993) and the managed floating regime (1994–2015). Applying an error correc ..read more

Economies, Vol. 12, Pages 95: CO2 Emissions, Remittances, Energy Intensity and Economic Development: The Evidence from Central Asia Economies doi: 10.3390/economies12040095 Authors: Bekhzod Kuziboev Olimjon Saidmamatov Elbek Khodjaniyazov Jakhongir Ibragimov Peter Marty Davron Ruzmetov Umidjon Matyakubov Ekaterina Lyulina Dilshad Ibadullaev Remittances are a crucial part of economic expansion, especially in Central Asia. Nevertheless, it is not possible to ignore its environmental damage. This paper is a pioneer in investigating the association among CO2 emissions, remittances, energy consumpt ..read more

Economies, Vol. 12, Pages 93: What Factors Are Limiting Financial Inclusion and Development in Peru? Empirical Evidence Economies doi: 10.3390/economies12040093 Authors: Sergio Luis Náñez Alonso Javier Jorge-Vazquez Lieslie Gallegos Arias Noelia Muñoz del Nogal Despite recent efforts in Peru to boost financial inclusion, significant issues of exclusion persist, especially among vulnerable groups. This article aims to identify and analyze areas at risk of financial exclusion using a multifaceted methodology: the Financial Access Survey (FAS) for comparative analysis (Peru versus other countries ..read more

Economies, Vol. 12, Pages 94: Government Funding Allocations to Universities and the Business Cycle: An Analysis of Canada’s Provincial Governments Economies doi: 10.3390/economies12040094 Authors: Duane Rockerbie Stephen Easton Canada’s universities each receive an annual operating grant from their provincial government to partially finance operating expenses. This paper estimates the sensitivity of provincial operating grants to the business cycle by disentangling the effects of procyclical income on government revenue and the countercyclical effect on student demand ..read more

Economies, Vol. 12, Pages 92: Estimating Spillover Effect from International Oil Market to Stock Market: Evidence from Korean Portfolio-Level Analysis Economies doi: 10.3390/economies12040092 Authors: Sunghee Choi Using a diagonal BEKK model, this paper estimates a spillover effect from the international crude oil market to the Korean stock market. Empirical results suggest that shocks and volatility in Dubai oil prices are significantly transmitted into twenty portfolios of the Korean stock market. Also, it was found that these spillover effects dramatically rose during the year 2020, when th ..read more

Economies, Vol. 12, Pages 90: Assessing Production and Marketing Efficiency of Organic Horticultural Commodities: A Stochastic Frontier Analysis Economies doi: 10.3390/economies12040090 Authors: Etty Puji Lestari Sucihatiningsih Dian Wisika Prajanti Fauzul Adzim Faizul Mubarok Arif Rahman Hakim Inefficiency is a problem in the production process, including in the organic farming sector. Over a long term period, this problem can disrupt the productivity of agricultural crops. This research aims to analyze the production and marketing efficiency of organic cabbage farming in the Kopeng agropolit ..read more

Economies, Vol. 12, Pages 89: Can ESG Stocks Be a Safe Haven during Global Crises? Evidence from the COVID-19 Pandemic and the Russia-Ukraine War with Time-Frequency Wavelet Analysis Economies doi: 10.3390/economies12040089 Authors: Ioannis Katsampoxakis Stylianos Xanthopoulos Charalampos Basdekis Apostolos G. Christopoulos In times of intense economic variability and social turbulence worldwide, this paper aims to examine the existence of transient correlations and interdependencies between the most important MSCI ESG indices worldwide and the most important commodities’ index ..read more

Economies, Vol. 12, Pages 87: Sectoral Performance Trends and Differences in the Balkan and Eastern European Region Economies doi: 10.3390/economies12040087 Authors: Tamás Kristóf Attila Virág Miklós Virág This article provides an empirical analysis aimed at evaluating the financial trends and disparities at the sector level within the Balkan and Eastern European region. The dataset encompasses a period of nine years and comprises more than 20 million firm-year observations from 24 industries in 21 countries. It uses 19 financial ratios to assess sectoral performance. In the empirical investig ..read more

Economies, Vol. 12, Pages 86: Short Run and Long Run Effects of Corruption on Economic Growth: Evidence from Balkan Countries Economies doi: 10.3390/economies12040086 Authors: Stefano Lucarelli Klodian Muço Enzo Valentini One of the factors that characterize the different countries of the Balkan area is the level of corruption which, as often stressed by scholars, may significantly influence the economic growth of its countries. However, there is still no agreement on the sign of this effect: there are theoretical arguments and empirical results in favor of a positive correlation between corru ..read more