The article presents a study of the connectivity and integration of sovereign bond and stock markets in 10 BRICS+ countries in the context of crisis instabilities in 2019−2024. Financial markets are becoming more integrated, and an increasing share of public investments are carried out across borders, which increases not only the opportunities for participants, but also the risks of a new crisis. The work used data on central bank rates of the considered countries, yield indices of 10-year government bonds, gold and Brent oil prices. The methods include the analysis of exchange rate dynamics, connectivity estimates based on the multivariate concordance coefficient and two-factor Friedman rank variance analysis, VAR models, Granger predictability and cointegration. The objective of this study is to analyze the interrelationship and cointegration between the sovereign bond and equity markets of selected BRICS+ countries during crisis periods. Our findings indicate that market interrelationship intensifies during crises, which in turn amplifies volatility. Additionally, we observed that none of the economies within the BRICS+ group can be classified as fully integrated or entirely isolated markets. The disruption of the interrelationship in the sovereign bond markets of the group is primarily reflected in the inconsistency of dynamic changes between Russia, China, and India. During the global shock of 2019–2020, the crisis spread from China, followed by Indonesia, and later to the other countries of the group. The financial and debt markets of the sampled countries were able to quickly cope with the severe shocks of the COVID-2019 period. The 2022–2024 crisis, which lasted significantly longer, began in Russia before spreading to countries across Asia and Africa. By 2024, Russia’s sovereign bond yields showed a marked decline. The increased market volatility following 2022 disrupted the integration and interrelationship of the stock and debt markets within the BRICS+ countries.
The use of green bonds as a financial instrument to support sustainable development has become a major focus in Indonesia. However, the success of green bond implementation not only depends on market willingness but also on public policies that support and regulate its use. Therefore, this research aims to analyze the impact of public policies on the use of green bonds in Indonesia and how these policies can influence sustainable development. Public policy theory and sustainable development theory are the basis of analysis in this research. Public policy theory is used to understand how public policies are formed, implemented, and evaluated. Meanwhile, sustainable development theory is used to evaluate the impact of public policies on sustainable development. This research uses a qualitative approach with public policy analysis as the main method. Data are collected from various sources, including policy documents, government reports, and interviews with relevant stakeholders. The analysis results show that public policies have a significant impact on the use of green bonds in Indonesia. These policies cover various aspects, such as regulation, incentives, and government support. Additionally, these policies also influence how green bonds are used to support sustainable development in Indonesia. In order to promote sustainable development, it is important for the Indonesian government to continue developing and strengthening public policies that support the use of green bonds. This will help improve the success.
Climate change is forcing countries to take strategic measures to reduce the negative impact on future generations. In this context, sustainable finance has played a key role in sustainable development since the establishment of environmental, social and governance principles. The underlying market has developed rapidly since its inception, with green bonds being the most prominent instrument. This article aims to study the impact of green bond issues on the abnormal stock returns of stocks listed on the main Euronext indices. The sample includes 58 issues carried out between 2014 and 2022 by 21 different firms listed on the AEX (Netherlands), BEL 20 (Belgium), CAC 40 (France), ISEQ 20 (Ireland), OBX (Norway) and PSI (Portugal) indices. The methodology follows the procedures of the event study using the market model. The results show significant positive stock price reaction on the issue date. After the abnormal losses just before the issues, suggesting the reserves of this consolidating market, abnormal gains persisted for over a week, providing evidence against the weak efficiency Euronext’s financial markets. The findings are useful for policy makers and entrepreneurs to promote innovative initiatives that encourage the financing and development of environmentally sustainable infrastructures.
Accurate prediction of US Treasury bond yields is crucial for investment strategies and economic policymaking. This paper explores the application of advanced machine learning techniques, specifically Recurrent Neural Networks (RNN) and Long Short-Term Memory (LSTM) models, in forecasting these yields. By integrating key economic indicators and policy changes, our approach seeks to enhance the precision of yield predictions. Our study demonstrates the superiority of LSTM models over traditional RNNs in capturing the temporal dependencies and complexities inherent in financial data. The inclusion of macroeconomic and policy variables significantly improves the models’ predictive accuracy. This research underscores a pioneering movement for the legacy banking industry to adopt artificial intelligence (AI) in financial market prediction. In addition to considering the conventional economic indicator that drives the fluctuation of the bond market, this paper also optimizes the LSTM to handle situations when rate hike expectations have already been priced-in by market sentiment.
This study examines the intricate interplay between the digital environment and the evolving communication dynamics of Generation Z, specifically focusing on the impact of social media on familial bonds. The research objective is to explore the ways in which Generation Z’s social media consumption patterns shape their relationships and lives, providing insights into the intricate interplay between technology and human connections. Adopting Hirschi and Wellman’s theoretical framework, this investigation employs a survey method, utilizing a questionnaire to gather data from 384 Iranian Generation Z social media users. The findings reveal a significant and negative correlation between family bonds and social media usage, dependency on the platform, and support received from it. Excessive use diminishes interaction and intimacy, highlighting social media’s potential consequences for family relationships, which are crucial for individual and societal well-being. The study underscores the significance of balanced social media usage and encourages initiatives promoting face-to-face interactions, empathy, and responsible digital citizenship. The findings hold significant implications for academics and policymakers in developing strategies that promote responsible digital habits, foster healthy relationships, and contribute to digital citizenship advancement. This may involve regulatory initiatives, guidelines for social media platforms, and public awareness campaigns emphasizing the importance of balanced digital habits.
The development of the maize agribusiness system is highly dependent on the role of social capital in facilitating interaction among actors in the chain of activities ranging from the provision of farm supplies to marketing. Therefore, this research aimed to characterize the key elements of social capital specifically bonding, bridging, and linking, as well as to demonstrate their respective roles. Data were collected from farmers and non-farmers actors engaged in various activities in the maize agribusiness system. The data obtained were processed using ATLAS Ti, applying open, axial, and selective coding techniques. The results showed the roles played by bonding, bridging, and linking social capital in the interaction between farmers and multiple actors in activities such as providing farm supplies, farming production, harvesting, post-harvest, and marketing. The combination of these social capital forms acted as the glue and wires that facilitated access to resources, collective decision-making, and reduced transaction costs. These results have theoretical implications, suggesting that bonding, bridging, and linking should be combined with the appropriate role composition for each activity in the agribusiness system.
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