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This paper empirically examines the influences of economic complexity performance on environmental innovation implementation.

The research is based on four measures designed to assess the effectiveness of environmental innovations in 24 European countries, including the percentage of enterprises implementing environmental innovation investment (% of surveyed firms), the percentage of enterprises implementing environmental innovation activities (e.g. implementation of resource efficiency actions, sustainable products or ISO 14001 certificates) measured, a number of enterprises having new ISO 14001 registration and a number of environmental innovation related patents. After conducting various tests for longitudinal correlations and asymmetry of the studied series, we examine the relationship between product proximity, economic complexity and environmental innovation (EI) implementation using the panel-corrected standard error model (PCSE) model in the following section. The feasible generalized least squares (FGLS) model is employed to further verify our findings by taking into account heteroscedasticity. An application of the two-step generalized mixed model (GMM) is considered to resolve an endogeneity issue. In addition, the dynamic fixed-effects estimate (DFE) estimator is applied to the autoregressive distributed lag (ARDL) method in order to calculate both the short-run and long-run effects. As indicated by Ha (2022a, b) and Ha and Thanh (2022), the DFE-ARDL method can be used to identify both time-fixed effects and country-fixed effects.

The authors provide empirical evidence to propose the mechanism through which economic complexity encourages the implementation of environmental innovation through favorable impacts of economic complexity on environmental innovation investments of firms and governments and the public's awareness regarding the importance of environmental innovations.

This research provides important implications for policymakers in promoting environmental innovations.

The study is the first to empirically examine economic complexity performance's influences on environmental innovation implementation. It is also the first to investigate the importance of institutional quality in enhancing the influence of economic complexity on environmental performance.

The present study investigates a nexus between digital public services (DPS) and international tourism empirically.

This article analyzes the nexus of DPS and international tourism by using the international sample of 23 European countries in the span of nearly 10 years from 2011 to 2019. Various econometric techniques, including the panel-corrected standard error (PCSE) model and the feasible generalized least squares (FGLS) model, are employed to confirm the author’s findings. Furthermore, the autoregressive distributed lag (ARDL) method is applied to measure the short- and long-run effects of DPS on international tourism developments.

Tourism is positively influenced by digitalization, implying that the enhancement of digital public service usage results in the development of the tourism industry. However, when looking at the effect of DPS in the short term, a negative impact can be found on tourism, as the density reported in the previous analysis stated a negative response to the tourism density. This effect spans the course of several facets, such as international tourism arrivals, international tourism receipt, international tourism, receipts (% of total exports) and global tourism expenditure (% of total imports). Although the result is unfavorable in the short term, digitalization promises great prospects for tourism in the long term. Notably, an improvement in economic growth, financial development as well a reduction in the pervasiveness of corruption and an improvement of environmental quality are transmission channels through which DPS have favorable influences on tourism activities.

The author’s findings are vital for managers and policymakers to establish a comprehensive grasp of digitalization's role in deciding tourist adoption. This is because digitalization has been proven to play a role in determining tourism adoption.

The present study is the first to examine the relationship between DPS and international tourism empirically. The author is also the first to distinguish the effects of digitalization in the short and long run.

This study aims to investigate two issues: (1) a nexus between climate-related financial policies (CRFP) and global value chains (GVC) and (2) the government’s policies to help countries enhance the efficient use of CRFP in improving a country’s likelihood to participate in GVC.

To investigate the connection between GVC and CRFP, the authors incorporate that backward participation is measured using foreign value-added, while domestic value-added is used to measure forward participation, quantified as proportions of gross exports. The study analyses yield significant insights across a span of 20 developing countries and 26 developed countries over the period from 2010 to 2020.

Regarding the first issue, the authors affirm the presence of a linear link between GVC and CRFP, implying that involvement in CRFP is advantageous for both backward and forward participation. Furthermore, the authors identify long-term GVC and CRFP cointegration and confirm its long-term effects. Notably, the expression of a linear relationship between GVC and CRFP appears to be stronger in developing countries.

The study findings, together with previous research, highlight the importance of financial policies relating to climate change (CRFP) in the context of economic growth. Climate change’s consequences for financial stability and GVC highlight the importance of expanded policymakers and industry participation in tackling environmental concerns.

Regarding the second issue, the study findings suggest critical policy implications for authorities by highlighting the importance of financial stability and expanded policymakers in promoting countries' participation in GVC.

This paper investigates the link between GVC performance and CRFP, offering three significant advances to previous research. Moreover, as a rigorous analytical method, this study adopts a typical error model with panel correction that accounts for cross-sectional dependency and stationarity.

This study aims to examine connections between five variables, including innovation in environment-related technology (EI), trade openness (TRADE), CO₂ emissions (CO₂) and foreign direct investment (FDI) from 1994 to 2019.

This study used an extended joint connectedness technique and the time-varying parameter vector autoregression (TVP-VAR) method. The analysis focuses on the variables of innovation in environment-related technology (EI), trade openness (TRADE), CO₂ emissions (CO₂) and foreign direct investment (FDI) using data from 1994 to 2019.

The results demonstrate that innovation in environment-related technology and an openness to the global network captured by FDI are identified as crucial net transmitters of shocks. In addition, an openness to the global trade network captured by TRADE turns from a transmitter to a receiver of shocks and vice versa. Moreover, it can be seen that the impact of EI was significant in the first five years of the observed period, and it transmitted the largest shock in 1997.

With regard to policy implications, the findings offer valuable insights for investors and policymakers. As the tradeoff between business efficiency and environmental sustainability diminishes, it is essential for Vietnam’s economy and enterprises to embrace green and sustainable growth in line with global trends. In a world characterized by uncertainties and risks, enterprises need to develop strategies to manage risks and shocks arising from geopolitical tensions, input material supply, financial–monetary instability and natural disasters.

This study contributes to the existing literature in two significant ways. First, as previously emphasized, this paper represents the first attempt to investigate the relationship between economic globalization and environmental innovation. Second, this study proposes a novel methodology that is better suited for analyzing volatility interlinkages across different market types.

This study aims to analyze the effects of e-government on corruption prevalence by using a sample of 29 European countries over the period 2012–2019.

This paper uses the panel corrected standard errors (PCSE) model to mitigate the problems of cross-sectional dependence. The PCSE model is also considered to reexamine the findings when the presence of heteroscedasticity, fixed effects and endogeneity issues are taken into account. The theoretical model incorporates one-year-lagged explanatory variables to deal with endogeneity. The autoregressive distributed lag method using the dynamic fixed effects estimator is chosen to deal with the time and country-fixed effects in the effort to measure the short- and long-run effects of e-government more precisely.

The results indicate that e-government plays a critical role in improving the population’s perception of corruption. Furthermore, e-government appears to have an effect in the short run. Notably, the estimation results show that there is a nonlinear relationship between e-government, especially user centricity and key enablers and the corruption perception index in the U-shaped curve.

The short-run and nonlinear effects of e-government on corruption prevalence suggest that the fight against corruption requires countries to pursue a consistent and continuous improvement and development of the e-government system.

The authors contribute to the literature by providing a consistent and precise answer to this relationship in the case of European countries. Another contribution of the work is to use diverse indicators to reflect e-government in a typical country, which helps us confirm the reliability and robustness of the findings.

The article is the first attempt to investigate the association between the size of trade values in environmental commodities (TVEC) and environmental quality (EQ).

The authors employ two dimensions, including human health’s and ecosystem’s protection, to capture the environmental performance. The six-digit level of the 2007 version of the Harmonized System was used to extract data on commerce in the Combined List of Environmental Goods (CLEG) goods from the UN Comtrade database (HS 2007). The authors apply the formal empirical estimation procedure to a global sample of 28 low-income and lower-middle-income (LI&LMICs) and 19 upper-middle-income (UMICs) and 31 high-income (HICs) during the 2000–2019 period.

The estimates indicate that the size of TVEC has a favorable impact on QE. The authors find robust results by utilizing various econometric techniques and various measures of TVEC. To shed light on the TVEC-QE nexus, the authors demonstrate the short-run and long-run effects of TVEC on QE and compare the influence of TVEC on QE in the subsamples based on a country’s income level. The results suggest that the TVEC-QE linkage is more likely to exist either in the long-run or high-income economies. Notably, the authors find that the influences of TVEC become more pronounced in a country characterized by a well-developed institutional system.

Governments should develop a more efficient policy framework to improve the relationship between trading activities and environmental performance. There has been a substantial increase in the global demands and requirements for environmental commodities, and the authors also realize the world economy has become greener and fairer. Therefore, it is vital for both developing and developed countries to catch this trend and satisfy the global demands and requirements to survive in foreign markets.

The article is the first attempt to investigate the association between trade values of environmental goods and environmental innovation.

We investigate connections between the development of Fintech and the blue economy from September 14th, 2020, to August 11th, 2023.

In this research, we use a cutting-edge model-free connectedness approach to investigate the relationships between FinTech and blue bond volatility. Our work is the first to investigate the effects of unknown events, such as the COVID-19 pandemic and Ukraine–Russia conflicts, on the interconnection of volatility derived from FinTech development and blue bond volatility.

Our results highlight the two-way relationship between the development of Fintech and the blue economy during our sample period. The net total connectedness shows that the blue economy index is a net shock receiver, especially in late 2021 and the second half of 2022, while most of the fintech indexes in our sample are mainly net shock transmitters. The Ukraine–Russia tension threatens the development of a sustainable blue economy. The development of Fintech plays an important role in promoting the blue economy.

Our results have important policy implications for investors and governments, as well as methods from the spillovers across the various indicators and their interconnections. Sharp information on the primary contagions among these indicators aids politicians in designing the most appropriate policies.

Our paper contributes to the literature in at least four ways. First, as previously stated, our article is the first to investigate the relationship between FinTech and blue bond volatility. Second, this study presented a framework for studying volatility interconnections between distinct variables that is more suited to analyzing these interconnections. In this research, we use a cutting-edge model-free connectedness approach to investigate the relationships between FinTech and blue bond volatility. Third, our work is the first to investigate the effects of unknown events such as the COVID-19 pandemic and Ukraine–Russia conflicts on the interconnection of volatility deriving from FinTech development and blue bond volatility. Lastly, our research provides a daily dataset for the BNP Paribas Easy ECPI Global ESG Blue Economy UCITS ETF to analyze 50 businesses from various markets that are at the forefront of the responsible application of ocean resources and other ESG standards. The Global X FinTech ETF (FINX) and the ARK FinTech Innovation ETF (ARKF) seek exposure to companies developing financial technology innovations. The development sectors include insurance, investment, fundraising and third-party lending by utilizing cutting-edge mobile and digital technologies. Our time series runs from September 14th, 2020, to August 11th, 2023. By using this database, we provide a comprehensive analysis of the link between the volatilities arising from various markets.

This paper analyzes variations in the effects of monetary and fiscal shocks on responses of macroeconomic variables, determinacy region, and welfare costs due to changes in trend inflation.

The authors develop the New-Keynesian model, in which the central banks can employ either nominal interest rate (IR rule) or money supply (MS rule) to conduct monetary policies. They also use their capital and recurrent spending budgets to conduct fiscal policies. By using the simulated method of moment (SMM) for parameter estimation, the authors characterize Vietnam's economy during 1996Q1–2015Q1.

The results report that consequences of monetary policy and fiscal policy shocks become more serious if there is a rise in trend inflation. Furthermore, the money supply might not be an effective instrument, and using the government budget for recurrent spending produces severe consequences in the high-trend inflation economy.

This paper's findings are critical for economists and monetary and fiscal authorities in effectively designing both the monetary and fiscal policies in confronting the shift in the inflation targets.

This is the first paper that examines the effects of trend inflation on the monetary and fiscal policy implementation in the case of Vietnam.

This paper examines whether guests contribute sWOM (social word of mouth) on different SNSs (social networking sites) regarding various personal motivations. SNSs have changed the way guests eat and experience their food and dishes. Marketing managers have effectively targeted SNSs as a marketing tool, yet have little research about drivers of guests' sWOM contribution on SNSs has been done. A model including the significant motives: (1) experiences, (2) opinion leadership, (3) reflection of self and (4) need for unique is tested to investigate their positive effects on contribution behavior of social media guests.

The data collected from 411 guests by using the snowball method was used for analysis. The structural equation modeling was applied to examine the relationships among the constructs and test the eight proposed hypotheses.

Results reveal that experiences, opinion leadership, reflection of self and need for unique were positively associated with contributing sWOM of restaurants. Furthermore, those who have positive experiences tend to be opinion leadership and reflection of self. And guests who show reflection of self, they are more likely to have opinion leaders and show need for uniqueness. Our study expands the existing frameworks of sWOM contribution by identifying various motivations and labeling sWOM. Findings provide restaurant managers with managerial implications for online marketing strategies on SNSs to attract sWOM contribution among guests.

It has some limitations while discovering the motivations of positive sWOM contribution. First, we only focused on the motivation of contributing positive sWOM, while negative sWOM received many arguments in changing attitudes toward buying products or services. Second, we collected data in Vietnam only without comparing with different countries. Future research could explore further cross-cultural perspectives to fill the gap. Third, this study explored sWOM contribution in service environment, sWOM contribution from service context may be slightly different from those of product brands.

These findings highlight the motivations of sWOM contribution that restaurant managers must recognize and make use of it. SNSs have given power to consumers to post everything at anytime and anywhere they like, therefore restaurant managers need to deeply understand why their consumers contribute sWOM. In digital era, customers and guests have become the ultimate tools for promoting product or service brands. The marketing managers should create an online platform in order to facilitate their consumers to discuss their brand frequently (Charu et al., 2018). Restaurants should have policies to push positive eWOM maximally and also reduce advertising costs.

This is one of the first studies on sWOM contribution of what motivate guests to contribute their sWOM on SNSs. Theoretically, this study offers deep insights into the links between various motivations and sWOM in foodservice context. Managerially, understanding these motivations allow marketing managers create effective policies that motivate guests to contribute positive word of mouth.

This paper aims to study the interlinkages between cryptocurrency and the stock market by characterizing their connectedness and the effects of the COVID-19 crisis on their relations.

The author employs a quantile vector autoregression (QVAR) to identify the connectedness of nine indicators from January 1, 2018, to December 31, 2021, in an effort to examine the relationships between cryptocurrency and stock markets.

The results demonstrate that the pandemic shocks appear to have influences on the system-wide dynamic connectedness. Dynamic net total directional connectedness implies that Bitcoin (BTC) is a net short-duration shock transmitter during the sample. BTC is a long-duration net receiver of shocks during the 2018–2020 period and turns into a long-duration net transmitter of shocks in late 2021. Ethereum is a net shock transmitter in both durations. Binance turns into a net short-duration shock transmitter during the COVID-19 outbreak before receiving net shocks in 2021. The stock market in different areas plays various roles in the short run and long run. During the COVID-19 pandemic shock, pairwise connectedness reveals that cryptocurrencies can explain the volatility of the stock markets with the most severe impact at the beginning of 2020.

Insightful knowledge about key antecedents of contagion among these markets also help policymakers design adequate policies to reduce these markets' vulnerabilities and minimize the spread of risk or uncertainty across these markets.

The author is the first to investigate the interlinkages between the cryptocurrency and the stock market and assess the influences of uncertain events like the COVID-19 health crisis on the dynamic interlinkages between these two markets.

本學術論文擬透過找出加密貨幣與股票市場兩者相互關聯之特徵,來探討這個聯繫;文章亦擬探究2019冠狀病毒病全球大流行對這相互關聯的影響。

作者以分量向量自我迴歸法、來找出2018年1月1日至2021年12月31日期間九個指標的關聯,藉此探討加密貨幣與股票市場之間的關係。

研究結果顯示,全球大流行的驚愕,似對全系統動態關聯產生了影響。動態總淨值定向關聯暗示了就我們的樣本而言,比特幣是一個純短期衝擊發送器。比特幣在2018年至 2020年期間是一個衝擊的長期純接收器,並進而於2021年年底成為一個衝擊的長期純發送器。以太坊則為短期以及長期之純衝擊發送器。幣安在2019冠狀病毒病爆發期間,在2021年接收純衝擊前、成為一個純短期衝擊發送器。位於不同地區的股票市場,無論在短期抑或長期而言均扮演各種不同的角色。在2019冠狀病毒病全球大流行的驚愕期間,成對的關聯顯示了加密貨幣可以以2020年年初最嚴重的影響去解釋和說明股票市場的波動。

研究結果使我們能深入認識有關的市場之間不同情緒和看法的蔓延所帶來的影響的主要先例,這些知識、亦能幫助決策者制定適當的政策,以減少有關的市場的弱點,並把這些市場間的風險和不確定性的散播減到最低。

作者是首位研究加密貨幣與股票市場之間的相互關聯的學者,亦是首位學者、去評估像2019冠狀病毒病健康危機的不確定事件,會如何影響有關的兩個市場之間的動態相互關聯。