Revista de Economía y Negocios

One of the arguments for the globalization is that it will efficient allocate resources in the world scale and especially make available capital and technology to the developing economies for industrialization and ultimately socio-economic development in the developing countries. Hence, the study took as its objective to examines the relationship between globalization and manufacturing sector development in Nigerian economy. To achieve this, the study adopted the ex-post experimental research design approach and annual time series data from 19986 to 2019. Overall globalization index, economic globalization index, trade openness and foreign direct investment were used as globalization variables, while Nigerian manufacturing sector output contribution to GDP served as proxy and indicator of manufacturing sector development. The analytical method followed the Paseran, Shin and Smith ARDL approach. The unit root test shows that all the variables, apart from FDI are integrated of order 1, that is, I(1) series, while FDI is I(0). Bound cointegration test revealed that there is a stable long run relationship among the variables. Estimate of the ARDL model shows that overall globalization, economic globalization, trade openness and exchange rate variations had negative and significant impact on manufacturing output growth in the long run. FDI had positive, but insignificant effect on manufacturing sector development in Nigerian economy during the period under review. Based on these findings, the study, therefore recommended that, the government should adopt proactive trade policies to protect and give competitive advantage to the domestic manufacturers in the domestic regional and markets.

Knowing how financial markets are affected by pandemics like COVID-19 can be extremely helpful for economic activists and economic planners. Numerous studies have been conducted in this field, and in the present study we try to provide an overview. Reviewing the literature on COVID-19 and financial markets may be done from several perspectives. Here we focus on finding a common answer from among the various studies while emphasizing two points: first is the duration of the effect pandemics have on financial markets; Studies have shown that COVID-19 has a long-term effect on certain financial markets while its effect on others is only short-term.

The second involves investigating the effectiveness of government policies regarding COVID-19. The available literature can be classified into two groups. First, studies conducted in countries where governments responded to COVID-19 more rapidly and managed to prevent the disease from spreading. In these cases, the negative effects of COVID-19 were less enduring but government intervention increases long-term uncertainty and causes long-term problems in financial markets.

The second category comprises studies that have used the Oxford COVID-19 Government Response Tracker (OxCGRT) index or the Stringency Index (SI) and examined the impact of these indices on stock market returns and volatility. The predominant result in these studies is that government policy responses increase stock market volatility and decrease returns.

For the most part, government intervention seems to have been an effective way to stop the COVID-19 pandemic, but policymakers have faced a trade-off between citizens' health and stock market disruptions.

In the fast-changing world, globalization is becoming a prevalent issue for many companies in the 21^st century. Whether the comparative advantage theory is suitable for the current situation and how can the corporation achieve globalization within two stages, this paper may provide a reference in certain extent.

Banks are major financial institutions that play a pivotal role in the economic system, diverting financial resources from surplus economic agents to deficit ones. The purpose of this study was to examine the impact of liquidity risk on the financial performance of Ethiopian commercial banks. Liquidity risk management and profitability are key issues in a competitive business environment. Fixed-effect balanced panel regressions were used for data from 13 commercial banks for the sample period of interest from 2010 to 2021. We have selected and analyzed six factors that affect the financial performance of commercial banks in Ethiopia. The results of panel data regression analysis showed that liquidity (LATA), leverage (TLA), and Gross Domestic Product (GDP) had statistically significant effects on financial performance of commercial banks. The Funding Gap Index (FGR), Cash Reserve Ratio (CRR), and Bank Size (SIZE) have no statistically significant impact on central bank financial performance. Liquidity risk has therefore adversely affected the financial performance of Ethiopian commercial banks. The recommendation is that commercial banks may need to review their credit rating methodologies to ensure that only worthy borrowers lend money to reduce the large number of nonperforming loans. Lending should provide borrowers with some form of financial education, guidance, and advice on how to allocate borrowed funds. Commercial banks are required to hold sufficient capital in accordance with bank operating rules. In order to increase the operational efficiency of banks, it is necessary to improve the capacity development of bankers. The recommendation is that commercial banks may need to review their credit rating methodologies to ensure that only worthy borrowers lend money to reduce the large number of non-performing loans. Lending should provide borrowers with some form of financial education, guidance, and advice on how to allocate borrowed funds. Commercial banks are required to hold sufficient capital in accordance with bank operating rules. In order to increase the operational efficiency of banks, it is necessary to improve the capacity development of bankers. Ethiopian commercial banks can achieve profitability by increasing the size of their banks. Banks therefore have an opportunity to benefit from economies of scale by increasing their market share in the Ethiopian banking industry.

In an era marked by environmental challenges and global economic aspirations, the concept of sustainable development has emerged as a critical framework for harmonizing economic growth with environmental preservation. It calls for a balanced approach that addresses the urgent need for economic progress while safeguarding the planet's resources and ecosystems for future generations. This article explores the intricate relationship between sustainable development and economics, delving into the challenges, strategies, and benefits of achieving this delicate balance. Sustainable development, as defined by the Brundtland Commission in 1987, is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It integrates economic, social, and environmental dimensions, acknowledging that these aspects are interconnected and interdependent.

Game theory, a branch of mathematics and economics, offers valuable insights into strategic decision-making in competitive situations. Originating from the study of games and interactions, it has found profound applications in the business world. Game theory allows companies to analyse the choices of various players, predict outcomes, and devise optimal strategies in scenarios involving cooperation, competition, and negotiation. This article delves into the significance of game theory in business, its key concepts, and its practical implications. Game theory explores how individuals, or "players," make decisions in situations where their choices influence the outcomes for all participants. Each player's decision depends not only on their preferences but also on the strategies chosen by others. This interdependence gives rise to strategic interactions, making game theory a powerful tool for understanding complex decision-making scenarios.

Risk is an inherent aspect of business operations, arising from factors such as market fluctuations, economic downturns, technological disruptions, and unforeseen events. Effective risk management strategies are essential for businesses to identify, assess, mitigate, and navigate these uncertainties. By proactively addressing potential challenges, companies can safeguard their assets, maintain stability, and seize opportunities even in the face of volatility. This article explores the significance of risk management strategies and their role in guiding businesses through uncertainty.

Climate change is one of the most pressing challenges of our time, posing significant risks to the environment, society, and the global economy. As the world grapples with rising temperatures, extreme weather events, and melting ice caps, the need for effective climate change mitigation strategies becomes increasingly evident. However, addressing climate change comes with economic implications, as policies designed to reduce greenhouse gas emissions and promote sustainable practices may have both costs and benefits. This article delves into the complex topic of the economics of climate change mitigation, examining how to strike a balance between environmental goals and economic growth. Implementing climate change mitigation policies involves substantial costs, particularly in transitioning from fossil fuel-based energy sources to cleaner alternatives. Governments, businesses, and individuals face the challenge of financing renewable energy infrastructure, adopting energy-efficient technologies, and adhering to stricter emissions standards.

The global financial architecture refers to the intricate network of institutions, regulations, and mechanisms that govern the flow of capital, investments, and financial transactions across international borders. It plays a pivotal role in shaping the global economy and influencing economic growth, stability, and development. Over the years, the global financial architecture has undergone significant transformations in response to evolving economic realities, technological advancements, and policy changes. This essay delves into the structures and transformations of the global financial architecture examining its key components and the driving forces behind its evolution.

This study for the examination of the impact of performance evaluation of the employee working in the manufacturing organizations. Taguchi loss function was used a data analysis for optimization and simulation of the data and quantitative as well as qualitative method of research is used the main purpose of this research focuses on the employee performance enhancement and there betterment so that the organization can look upon the lagging area in quality assessment and enhance it for the attainment of the organization goal and employee development.

Central banks play a pivotal role in shaping economic stability by conducting monetary policy and regulating financial institutions. The global financial crisis of 2008-2009, the most severe economic downturn since the Great Depression, highlighted the crucial importance of central banks in maintaining economic stability. This article explores the lessons learned from the global financial crisis and the ways central banks have evolved their strategies to address economic challenges and ensure financial resilience. The 2008 financial crisis exposed vulnerabilities in the global financial system, resulting from a combination of excessive risk-taking, complex financial products, and lax regulatory oversight. The crisis led to severe economic contractions, skyrocketing unemployment rates, and the collapse of major financial institutions. Central banks were faced with the daunting task of stabilizing financial markets, restoring confidence, and reviving economic growth.

In this study quantitative research design was utilized to test the herding behavior of investors in Nigerian equity market. A random technique was adopted to select the companies with sufficient observations that cover the scope of the study. In this study, stock price information from five companies is used. The data used in this analysis were gathered from www.investing.com over an 8 years period, from 2015 to 2022. The cross-sectional absolute standard deviation was determined using the data collected. It is concluded that there is market wide herding behavior of investors and when the market is up there is presence of significant herding behavior of investors. However, there is no significant herding behavior of investors when the market is down. When there is herding in the market, this suggests that the market is inefficient and as such it is recommended that there should be restriction on short sales in order to raised or increase market efficiency. Also, the efficiency of the market will likewise increase when the cost of information declines.

The study adopts a time series data to investigate long memory dependence over stock market phases of some selected sub-Saharan African countries. The data for this study were collected from from 2012 to 2022. Data on stock index of Nigeria and South Africa were sourced from that site. The estimation techniques for this study are R/S (Rescale regression analysis) and ARFIMA (Autoregression Fractionally Integrated Moving Average) models. It is concluded that Nigeria stock market return has long memory in return that is current returns are correlating with future return. Similarly, in South Africa stock market current return correlate with future return in a short range. Thus, the results from this study can be used by investors to create risk and portfolio management methods because the fundamental element of anticipating return is present. Instead of using behavior patterns like herding, investors can make buy and sell choices using fully built trading algorithms.

Lebanon walked out of Paris II in November of 2002 with US $4.5 billion in soft loans from countries friends of Lebanon. This represented, at the time, 25 percentage of the country’s Gross Domestic Product (GDP). It must’ve been a much needed fund but it was not properly utilized. After that, political class’s appetite to spend grew stronger with little to no reforms to report or claim. The nature and magnitude of the debt problem couldn’t be made clearer with the statement of, then the chairman of the board or directors of the Association of Banks in Lebanon (ABL), in February of 2012, Dr. Francois Bassil, came out strong against banks continuing on the path of lending the government. It was utterly clear that Lebanon’s public debt is getting out of hands and it is no longer sustainable. With banks operating in Lebanon bearing half of the public debt in foreign currencies and over two-third of the debt denominated in domestic currency that put them in the eye of the storm.

This research study aims to investigate the perspectives of the circular economy in Kazakhstan. The research question is based on the necessity to transform from a linear economy to a circular economy, which promotes sustainable production and consumption practices. The study examines the effects of the circular economy in the construction, plastic industry, and recycling sectors. The study draws on international examples of countries that have successfully implemented circular economy principles and the strategies they have used to achieve sustainability goals. In addition, the study presents the results of surveys and interviews conducted with a teacher, students, a civil engineer, and an ecologist, to assess their perspectives on the circular economy in Kazakhstan. The findings suggest that the circular economy has the potential to contribute to the country's sustainable development goals by reducing waste, conserving resources, and improving economic efficiency. The study concludes that there is a need for policymakers, industry leaders, and consumers to adopt circular economy principles and promote sustainable practices in Kazakhstan.