Fresh evidence on connectedness between prominent markets during COVID-19 pandemic.

Various empirical studies have examined the nexus between financial markets, but this study focused on the comovement among prominent markets. Our study examines the interrelationship among main financial markets, i.e., stock, oil, and commodity during the recent pandemic. The interconnections among the selected markets are investigated using a battery of wavelet coherence tools and the Granger causality test. From the wavelet coherence analysis, our findings indicate strong co-movements among the VIX, oil volatility, and commodity prices during pandemic and localized in all scales and over the sample period. The dependency strength among the considered economies is noted to increase in pandemic, which implies increased short- and long-term benefits for the investors. Moreover, Our result exhibits a feedback causality between OVIX and crude oil, VIX and S&P 500, and gasoline and VIX. Interestingly, a unidirectional causality exists between VIX and crude oil, S&P 500 and crude oil, Brent and crude oil, gasoline, crude oil, and VIX and OVIX. We advocate that the findings will be helpful for portfolio managers, investors, and officials around the world.

A comparative analysis of renewable and non-renewable energy generation to relegate CO2 emissions and general costs in household systems.

Ensuring adequate implementation of solar energy for providing environment-friendly energy to the household sector, which can considerably abate pollutants in the environment and make power industry structure sustainable, is necessary for developing countries. Comparison in terms of environmental and cost impacts of renewable energy (hybrid solar system) with non-renewable energy sources, water and planning development authority (WAPDA), and diesel generators (DGs) has been examined in the household sector of Pakistan. Primary data of hybrid solar systems have been obtained from 10 different households segregated them into two categories according to their income as medium-income households (MIHs) and lower income households (LIHs) containing 5 kW and 3 kW of hybrid solar energy systems, respectively. While operating with a hybrid solar energy system instead of a non-renewable energy system, in terms of average generated power and average running load, carbon dioxide (CO2) emissions can be reduced up to 8,446.6 kg CO2 and 6,131.725 kg CO2, respectively, in the next 25 years. Comparison of costs indicated that renewable energy has a comparatively low cost per electric unit. It can pay back its total installation cost in just 8 years and can save a sum of $4,936.4375, along with many more ecological, economic, and societal benefits. Pakistan can efficiently utilize solar energy to relegate CO2 emissions and general costs as it has distinct geographical features to access sunlight in most days of the year.

A review of the global climate change impacts, adaptation, and sustainable mitigation measures.

Climate change is a long-lasting change in the weather arrays across tropics to polls. It is a global threat that has embarked on to put stress on various sectors. This study is aimed to conceptually engineer how climate variability is deteriorating the sustainability of diverse sectors worldwide. Specifically, the agricultural sector's vulnerability is a globally concerning scenario, as sufficient production and food supplies are threatened due to irreversible weather fluctuations. In turn, it is challenging the global feeding patterns, particularly in countries with agriculture as an integral part of their economy and total productivity. Climate change has also put the integrity and survival of many species at stake due to shifts in optimum temperature ranges, thereby accelerating biodiversity loss by progressively changing the ecosystem structures. Climate variations increase the likelihood of particular food and waterborne and vector-borne diseases, and a recent example is a coronavirus pandemic. Climate change also accelerates the enigma of antimicrobial resistance, another threat to human health due to the increasing incidence of resistant pathogenic infections. Besides, the global tourism industry is devastated as climate change impacts unfavorable tourism spots. The methodology investigates hypothetical scenarios of climate variability and attempts to describe the quality of evidence to facilitate readers' careful, critical engagement. Secondary data is used to identify sustainability issues such as environmental, social, and economic viability. To better understand the problem, gathered the information in this report from various media outlets, research agencies, policy papers, newspapers, and other sources. This review is a sectorial assessment of climate change mitigation and adaptation approaches worldwide in the aforementioned sectors and the associated economic costs. According to the findings, government involvement is necessary for the country's long-term development through strict accountability of resources and regulations implemented in the past to generate cutting-edge climate policy. Therefore, mitigating the impacts of climate change must be of the utmost importance, and hence, this global threat requires global commitment to address its dreadful implications to ensure global sustenance.

Impact of stock market, renewable energy consumption and urbanization on environmental degradation: new evidence from BRICS countries.

This study examines links between Morgan and Stanley capital Investment (MSCI), foreign direct investment (FDI), renewable energy, urbanization, and trade openness on environmental degradation in (Brazil, Russia, India, China, South Africa) BRICS countries. In this study, generalized method of moment (GMM) estimation is applied on a data set ranging from 1993 to 2018. Results illustrate that stock market index price (MSCI) has negative relationship on CO2 emissions in India, China, Russia, and South Africa and has positive relationship in Brazil. One possible reason for this is strong environmental regulations and their enforcement by Brazilian government. The study also finds that trade openness, FDI, and urbanization have a significant positive relationship on environmental degradation. The impact of stock market development on environmental degradation varies among BRICS countries. Our outcomes have significant policy implications. For example, the policy makers have to initiate effective strategies to promote the renewable energy sources to meet the increasing demand for energy by replacing the use of conventional energy such as coal, gas, and oil. This will help to reduce the CO2 emissions from fossil fuel and ensure sustainable stock market development in the BRICS nations. BRICS countries who have taken the initiative and formulated policies for businesses to conserve the environment play a positive role compared to those who do not.

Regional disparities in Preventive measures of COVID-19 pandemic in China. A study from international students' prior knowledge, perception and vulnerabilities.

The COVID-19 pandemic needs immediate solution before inflicting more devastation. So far, China has successfully controlled transmission of COVID-19 through implementing stringent preventive measures. In this study, we analyze the effectiveness of preventive measures taken in thirteen regions of China based on the feedback provided by 1135 international students studying in China. The study uses factor analysis combined with varimax rotation of variables. It was found that awareness raising and dispersing actionable knowledge regarding trust and adapting measures remained significantly important. Therefore, recognition of information gaps, improvements in the level of alertness, and development of preventive measures in each sector are imperative. The findings of this study revealed that trust, students' health, waste disposal, and the efforts of the Chinese government/international institute of education to prevent this pandemic were significantly and positively associated with preventive measures. The results showed that prior knowledge, global pandemics, and food and grocery purchases were firmly related to the preventive measures of COVID-19. Moreover, anxiety, transportation, and economic status were negatively related to the preventive measures. During this epidemic situation, international students suffered various types of mental stresses and anxiety, especially living in most affected regions of China. The study adopted a mixed (qualitative and quantitative) approach where the findings can act as a set of guidelines for governmental authorities in formulating, assisting in the preparation, instructing, and guiding policies to prevent and control the epidemic COVID-19 at national, local, and divisional levels.

Stock market comovements among Asian emerging economies: A wavelet-based approach.

Stock market, is one of the most important financial market which has a close relationship with a country's economy, due to which it is often called the barometer of the economy. Over the past 25 years, the stock markets have been affected by different global economic shocks. Various researchers have analyzed different aspects of these effects one by one, however, this study is an assessment of stock market interrelationship of emeriging Asian economies which include most of the East Asian, and Southeast Asian emerging economies with special focus on China for past decades during which different crisis occurred. We used Morgan Stanley capital international (MSCI) daily indices data for each stock market and compared Chinese stock market with the stock markets of India, Pakistan, Malaysia, Singapore, and Indonesia. We analyzed the data through the individual wavelet power spectrum, cross-wavelet transform and wavelet coherence, to determine the correlation and volatility among the selected stock markets. These model have the power to analyze co-movements among these countries with respect to both frequency and time spaces. Our findings show that there are co-movement patterns of higher frequencies during the crises periods of 1997, 2008 and 2015. The dependency strength among the considered economies is noted to increase in the crisis periods, which implies increased short- and long-term benefits for the investors. From a financial point of view, it has been determined that the co-movement strength among the emerging economies of Asia may have an effect on the VaR (Value at Risk) levels of a multi-country portfolio. Furthermore, the stock market of China shows a high correlation with the other six Asian stock emerging markets in both high and low-frequency spectrums. The association of the south and east Asian stock market with Chinese stock markets show the interconnection of these economies with the economy of China since past two decades. These findings are useful for investors, portfolio managers and the policymaker around the globe.