Studia Universitatis Vasile Goldiș Arad, Seria Științe Economice

Modeling the Oil Price Influences Upon the Energy Sector in the Macroeconomic Context. Empirical Evidence from Central and Eastern European Countries

2025-01-02T19:07:57+08:00

The oil price influences and tendencies have gained, lately major developments both at the European level and on the international level. Moreover, several interconnections between the energy sector and oil price influences have become the panacea of several important research and studies. In this article, we provide a qualitative and quantitative approach to the interconnections manifested between oil price movements and the developments of the energy sector. The study is focused on Central and Eastern European Countries which have similarities and differences both at the energy sector level and economy level. The econometric techniques used in this study reveal the importance of the causality relationship between oil price movements and the energy sector taking into account the macroeconomic context. The conclusions of this study highlight some important fine-tuning aspects that must be recalibrated in Central and Eastern European Countries to increase the economic outcomes, strengthen the energy sector, and respond properly to the oil price movement trends.

The Impact of Ownership and Financial Stability on Bank Liquidity Creation

2025-01-02T19:07:59+08:00

Employing a descriptive approach, this study intends to investigate the causal relationship between financial stability and liquidity creation and the effects of foreign ownership, local ownership, and financial stability on liquidity creation. The research sample included 35 banks listed on the Indonesia Stock Exchange based on a purposive sampling technique (non-random sampling) and the observation period between 2013 and 2020 utilizing quarterly data. According to the Granger causality test results, there is no reciprocal relationship between the creation of liquidity and financial stability. This indicates that the research variables avoid endogeneity problems. Using static panel data analysis, we discovered that neither foreign ownership nor financial stability has any impact on the creation of bank liquidity; however, the interaction between foreign ownership and financial stability has a significant positive impact, suggesting that the interaction between the two could become stronger. The asset-side liquidity creation component is the only one that plays this role. Domestic ownership favors liquidity creation, but there is less of an effect when ownership and financial stability are combined. When the creation of liquidity increases, production activities increase, suggesting that economic activity increases. Thus, these findings are useful for regulators and central banks in making economic and banking policies by considering bank ownership and stability.

Value Added Tax and Economic Development: Focus on Human Capital Development

2025-01-02T19:08:00+08:00

This study investigates the impact of Value Added Tax on Economic Development and Human Capital Development from 1994 to 2022. Employing a longitudinal research design, the study utilizes data specific to Nigeria and obtained from the office of the Federal Inland Revenue Service (FIRS), the Statistical Bulletin of the Central Bank of Nigeria (CBN), and the World Bank. The collected data is then analyzed using the Johansen Co-integration, Vector Error Correction Model, and Vector Autoregressive analysis technique. The research establishes a connection between Value Added Tax (VAT) and the Exchange rate, demonstrating their impact on Economic Development and Human capital development in Nigeria. The verdicts show that both VAT and Exchange Rate significantly impact both Economic Development and Human Capital Development, though negatively. However, these findings are not meant to discourage but rather to serve as a catalyst for change. The recommendations outlined in the study emphasize the importance of training, oversight, exchange rate stabilization, investment in education, and financial security in promoting Economic Development and Human Capital Development in Nigeria. Tax regulatory authorities should improve management of VAT funds to ensure they are utilized for developmental objectives. Finally, organizations such as the EFCC must remain steadfast in their commitment to preventing the misuse or diversion of VAT funds meant for Capital Expenditure and the development of the nation’s human resources, thereby safeguarding the financial security of the government and the nation as a whole.

Optimizing Financial Data Analysis: A Comparative Study of Preprocessing Techniques for Regression Modeling of Apple Inc.'s Net Income and Stock Prices

2025-01-02T19:08:02+08:00

This article presents a comprehensive methodology for processing financial datasets of Apple Inc., encompassing quarterly income and daily stock prices, spanning from March 31, 2009, to December 31, 2023. Leveraging 60 observations for quarterly income and 3774 observations for daily stock prices, sourced from Macrotrends and Yahoo Finance respectively, the study outlines five distinct datasets crafted through varied preprocessing techniques. Through detailed explanations of aggregation, interpolation (linear, polynomial, and cubic spline) and lagged variables methods, the study elucidates the steps taken to transform raw data into analytically rich datasets. Subsequently, the article delves into regression analysis, aiming to decipher which of the five data processing methods best suits capital market analysis, by employing both linear and polynomial regression models on each preprocessed dataset and evaluating their performance using a range of metrics, including cross-validation score, MSE, MAE, RMSE, R-squared, and Adjusted R-squared. The research findings reveal that linear interpolation with polynomial regression emerges as the top-performing method, boasting the lowest validation MSE and MAE values, alongside the highest R-squared and Adjusted R-squared values.

The Dynamics of Labor Income Share in an Era of Robotic Automation: A Panel Data Analysis in High-Level Automation Countries

2025-01-10T15:00:34+08:00

This study examines the impact of robotic capital, physical capital, technological change, human capital, and trade globalization on labor income share dynamics in the era of robotic automation. Focusing on China, Germany, Japan, South Korea, and the United States – countries responsible for 79.2% of global industrial robotic installations from 2010 to 2023 – our analysis employs key variables such as labor income share, annual industrial robot installations, gross fixed capital formation, researchers in research and development, human capital index, and trade of goods and services. Estimations using Arellano-Bond, Generalized Estimating Equations, Driscoll-Kraay, and Arellano-Froot-Rogers methods reveal a consistent negative association between labor income share and robotic capital. Conversely, a positive relationship is observed with research and development. Notably, the study underscores the consistent negative impact of physical capital accumulation on labor income share across the Arellano-Bond, Driscoll-Kraay, and Arellano-Froot-Rogers methods. Furthermore, globalization, as assessed by the Arellano-Bond, Generalized Estimating Equations, and Driscoll-Kraay methods, is identified as a factor adversely affecting labor income share.