Mineral policy dynamics and their impact on equity market volatility in the global south: A multi-country analysis

Haithem Awijen, Sami Ben Jabeur () and Houssein Ballouk ()
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Haithem Awijen: INSEEC - Institut des hautes études économiques et commerciales | School of Business and Economics
Sami Ben Jabeur: ESDES - ESDES, Lyon Business School - UCLy - UCLy - UCLy (Lyon Catholic University), UR CONFLUENCE : Sciences et Humanités (EA 1598) - UCLy - UCLy (Lyon Catholic University)
Houssein Ballouk: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

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Abstract: This study investigates the complex interplay between natural resources policy amendments in the Global South countries and their subsequent impact on equity market volatility, particularly in Asian countries. It scrutinizes how legislative, statute, act, code, or executive decree changes jointly provoke equity market volatility. Utilizing the asymmetric volatility Multiplicative Error Model, our research reveals how alterations in mineral policies significantly affect equity market volatility across various nations in the Global South. Notably, China is the most significant influencer, alongside India and Malaysia. The results indicate a strong link between government actions, including policy reforms and fiscal strategies, and the propagation of market volatility. This connection underscores the growing interdependence among Asian stock indices. This study provides valuable perspectives for policymakers, investors, and stakeholders in the Global South seeking to navigate the complex economic implications of natural resources policy decisions on equity markets.

Date: 2024-12
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Published in Resources Policy, 2024, 99, pp.105373. ⟨10.1016/j.resourpol.2024.105373⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04854038

DOI: 10.1016/j.resourpol.2024.105373

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