Ronald Ravinesh Kumar
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View article: Can Including Cryptocurrencies with Stocks in Portfolios Enhance Returns in Small Economies? An Analysis of Fiji’s Stock Market
Can Including Cryptocurrencies with Stocks in Portfolios Enhance Returns in Small Economies? An Analysis of Fiji’s Stock Market Open
The market for digital assets, and more specifically cryptocurrencies, is growing, although their adoption in small island countries remains absent. This paper explores the potential benefits of integrating cryptocurrencies into portfolios…
View article: A two-stage framework for enhancing crsyptocurrency portfolio performance: Integrating credibilistic CVaR criterion with a novel asset preselection approach
A two-stage framework for enhancing crsyptocurrency portfolio performance: Integrating credibilistic CVaR criterion with a novel asset preselection approach Open
In an increasingly diverse investment landscape, the cryptocurrency market has emerged as a compelling option, offering the potential for high returns, diversification opportunities, and significant liquidity. However, the inherent volatil…
View article: How the Tourism Industry Can Help Resolve Mongolia’s Environmental Problems
How the Tourism Industry Can Help Resolve Mongolia’s Environmental Problems Open
In this paper, we use a theoretical model to show that the development of the tourism industry is very likely to significantly reduce environmental problems in Mongolia. Among other issues, Mongolia suffers from an excessively large livest…
View article: Exploring the Tourism and Economic Growth Relationship in Vietnam: A Cointegration Analysis with Model-Specific Structural Breaks
Exploring the Tourism and Economic Growth Relationship in Vietnam: A Cointegration Analysis with Model-Specific Structural Breaks Open
In this study, we present a comprehensive analysis to examine the resilience of tourism in Vietnam since the Doi Moi period. Using an augmented Solow framework, data from 1986 to 2020, and the ARDL approach, we estimate the long-run and sh…
View article: Cryptocurrency Portfolio Allocation under Credibilistic CVaR Criterion and Practical Constraints
Cryptocurrency Portfolio Allocation under Credibilistic CVaR Criterion and Practical Constraints Open
The cryptocurrency market offers attractive but risky investment opportunities, characterized by rapid growth, extreme volatility, and uncertainty. Traditional risk management models, which rely on probabilistic assumptions and historical …
View article: Application of a Robust Maximum Diversified Portfolio to a Small Economy’s Stock Market: An Application to Fiji’s South Pacific Stock Exchange
Application of a Robust Maximum Diversified Portfolio to a Small Economy’s Stock Market: An Application to Fiji’s South Pacific Stock Exchange Open
In this study, we apply a novel approach of portfolio diversification—the robust maximum diversified (RMD)—to a small and developing economy’s stock market. Using monthly returns data from August 2019 to May 2024 of 18/19 stocks listed on …
View article: Determinants of Bank Profitability—Do Institutions, Globalization, and Global Uncertainty Matter for Banks in Island Economies? The Case of Fiji
Determinants of Bank Profitability—Do Institutions, Globalization, and Global Uncertainty Matter for Banks in Island Economies? The Case of Fiji Open
The objective of this study is to examine the influences of institutions, globalization, and world uncertainty on bank profitability in small developing economies. Consequently, we emphasize the significance of both bank-specific and other…
View article: Environmental Injustice: The Effects of Environmental Taxes on Income Distribution in an Oligopolistic General Equilibrium Model
Environmental Injustice: The Effects of Environmental Taxes on Income Distribution in an Oligopolistic General Equilibrium Model Open
We apply a static oligopolistic general equilibrium model to investigate the effects of an environmental tax on labor incomes, capital incomes, profits, and the distribution of income. The study is motivated by the fact that environmental …
View article: Gender Inclusiveness and Credit Accessibility: Investigating Rural Non-Farm Enterprises in Vietnam
Gender Inclusiveness and Credit Accessibility: Investigating Rural Non-Farm Enterprises in Vietnam Open
View article: Determinants of Non-Performing Loans in a Small Island Economy of Fiji: Accounting for COVID-19, Bank-Type, and Globalisation
Determinants of Non-Performing Loans in a Small Island Economy of Fiji: Accounting for COVID-19, Bank-Type, and Globalisation Open
An increase in non-performing loans and bad debts in the banking sector can make banks vulnerable to a loss of confidence among customers and other banks and a banking collapse. The recent pandemic (COVID-19) and the evolving globalisation…
View article: Production Efficiency and Income Distribution with Competition Induced by Antitrust Measures
Production Efficiency and Income Distribution with Competition Induced by Antitrust Measures Open
We use a three-sector overlapping generations model to examine the efficiency characteristics and income distribution in the long-run steady-state equilibrium. Assuming two sectors produce intermediate goods within an oligopolistic competi…
View article: International Borrowing and Lending in the Presence of Oligopolistic Competition
International Borrowing and Lending in the Presence of Oligopolistic Competition Open
This paper examines the implications of imperfect competition in a two-country framework where a single good is produced. Using an overlapping generation model, we analyze the effects of market structures. Specifically, one country is assu…
View article: Portfolios under Different Methods and Scenarios: A Case of Fiji’s South Pacific Stock Exchange
Portfolios under Different Methods and Scenarios: A Case of Fiji’s South Pacific Stock Exchange Open
In this study, we analyze portfolio performance under different methods and scenarios for the small island economy of Fiji. In addition to documenting the historical performance and the smallness of the stock market, the study looks at the…
View article: Profitability Determinants of the Insurance Sector in Small Pacific Island States: A Study of Fiji’s Insurance Companies
Profitability Determinants of the Insurance Sector in Small Pacific Island States: A Study of Fiji’s Insurance Companies Open
We examine the determinants of profitability of insurance companies in Fiji as a reference country. In Fiji, insurance companies and the services have grown over the years. The study uses a financial evaluation approach. Profitability is m…
View article: Determinants of Social and Environmental Accounting Information Disclosure: An Analysis of Top 50 Firms in New Zealand
Determinants of Social and Environmental Accounting Information Disclosure: An Analysis of Top 50 Firms in New Zealand Open
In this study, we examine the determinants of voluntary disclosures of Social and Environmental Accounting (SEA) among the top 50 firms in New Zealand over the period of 2011 to 2017. The study is an extension of Hackston and Milne’s (1996…
View article: An Application of Portfolio Mean-Variance and Semi-Variance Optimization Techniques: A Case of Fiji
An Application of Portfolio Mean-Variance and Semi-Variance Optimization Techniques: A Case of Fiji Open
In this paper, we apply the Markowitz portfolio optimization technique based on mean-variance and semi-variance as measures of risk on stocks listed on the South Pacific Stock Exchange, Fiji. We document key market characteristics and cons…
View article: Imperfect Competition, Real Estate Prices and New Stylized Facts
Imperfect Competition, Real Estate Prices and New Stylized Facts Open
In this paper, we develop an overlapping generation model with imperfect competition and land to provide a theoretical foundation for some empirical observations made since the end of the 1970s. The problem is that these new “stylized fact…
View article: Why the increase in the retirement age will lead to more inequality and poverty? An ignored fairness problem
Why the increase in the retirement age will lead to more inequality and poverty? An ignored fairness problem Open
In this study, we show with the help of a simple model that an increase of the retirement age has a negative impact on the distribution of pension benefits in the Bismarckian as well in the Beveridgean pension system. In both systems, the …
View article: The Capitalist Spirit and Endogenous Growth
The Capitalist Spirit and Endogenous Growth Open
The aim of the study is to investigate the influence of the capitalist spirit in conjunction with the distribution of income on economic growth. The capitalist spirit is represented by the fact that savings rates increase with increasing r…
View article: Revisited: Monopoly and Long-Run Capital Accumulation in Two-Sector Overlapping Generation Model
Revisited: Monopoly and Long-Run Capital Accumulation in Two-Sector Overlapping Generation Model Open
In this paper, we investigate if an increasing competition in an oligopolistic market will enhance the real incomes and consumer surplus in the long run. For this purpose, we apply a two-sector overlapping generation model in which members…
View article: Taxation of Land and Economic Growth
Taxation of Land and Economic Growth Open
In this paper, we theoretically analyze the effects of three types of land taxes on economic growth using an overlapping generation model in which land can be used for production or consumption (housing) purposes. Based on the analyses in …
View article: The Relationship between Yield Curve and Economic Activity: An Analysis of G7 Countries
The Relationship between Yield Curve and Economic Activity: An Analysis of G7 Countries Open
The yield curve is an important tool to assess the economic progress of a country. In this study, we examine the strength of the relationship between term spread and economic activity, and between the components of the yield curve and econ…
View article: Determinants of bank stability in a small island economy: a study of Fiji
Determinants of bank stability in a small island economy: a study of Fiji Open
Purpose This study aims to examine the determinants of bank stability based on three measures of bank stability while accounting for key bank-specific, macro-finance and structural variables. The aim is to underscore key indicators of stab…
View article: Effect of Fisheries Subsidies Negotiations on Fish Production and Interest Rate
Effect of Fisheries Subsidies Negotiations on Fish Production and Interest Rate Open
We analyze the effect of fisheries subsidy negotiations on financial markets and aggregate demand in developed and developing countries. We examine the plausible scenarios that are likely to emerge in the event of elimination or reduction …
View article: Economic and Social Sustainability: The Influence of Oligopolies on Inequality and Growth
Economic and Social Sustainability: The Influence of Oligopolies on Inequality and Growth Open
To realize economic and social sustainability, it is necessary to avoid economic injustice and therefore too unequal a distribution of income and wealth. In this paper we investigate the extent to which oligopolies contribute to an unequal…
View article: Exploring the Effect of Energy Consumption on the Economic Growth of Albania
Exploring the Effect of Energy Consumption on the Economic Growth of Albania Open
Albania is one of the most energy-resource abundant country, however faced with high domestic electricity demand. Moreover, the country is the largest crude oil producer in Europe. In this study, we investigate the following questions: (i)…
View article: Modelling inbound international tourism demand in small Pacific Island countries
Modelling inbound international tourism demand in small Pacific Island countries Open
In this study, we estimate inbound international tourism demand models at the individual source market-destination and overall destination levels for Fiji, Cook Islands, Tonga and Vanuatu from 2002Q1 to 2016Q2 and Samoa from 2002Q4 to 2015…
View article: The Effects of a Revenue-Neutral Child Subsidy Tax Mechanism on Growth and GHG Emissions
The Effects of a Revenue-Neutral Child Subsidy Tax Mechanism on Growth and GHG Emissions Open
Growing population, greenhouse gas emissions, and the pressure to improve economic growth are conflicting and controversial issues at the core of political economy. In this paper, using a theoretical model, we show that by shifting relativ…
View article: Energy Consumption and Economic Growth in Small Island Economies
Energy Consumption and Economic Growth in Small Island Economies Open
Petroleum is the primary source of energy used in transportation and electricity generation for many small Pacific island economies. Noting the growing demand for transportation and infrastructure services, we investigate the long-run asso…
View article: The Effects of One-Child Policy on the Economy and the Environment in an OLG Framework
The Effects of One-Child Policy on the Economy and the Environment in an OLG Framework Open
In this paper we take China’s one child policy as an example and investigate its environmental impact. We develop a model for an economy using a standard overlapping generation model extended with human capital, endogenous fertility,…