Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia.
The increasing globalization and information communication associated with commerce are confronted with the risk experienced over the years in the various production sectors of the economies. The research studied the influence of ICTs capital goods exports, industrial value addition, transportation...
| Main Authors: | , , , , , , , |
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| Format: | Article |
| Language: | English |
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Econjournals
2023
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| Online Access: | http://eprints.utm.my/105614/1/MohdKhataJabor2023_HarnessingthePowerofGlobalizationaStudyoftheAssociation.pdf |
| _version_ | 1811132168837005312 |
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| author | Sriyanto, Sriyanto Imran, Muhammad Zaman, Khalid Khan, Haroon Ur Rashid Lutfiansyach, Dadang Yunus Parmono, Parmono Pathath, Abdul Wahab Jabor, Mohd. Khata |
| author_facet | Sriyanto, Sriyanto Imran, Muhammad Zaman, Khalid Khan, Haroon Ur Rashid Lutfiansyach, Dadang Yunus Parmono, Parmono Pathath, Abdul Wahab Jabor, Mohd. Khata |
| author_sort | Sriyanto, Sriyanto |
| collection | ePrints |
| description | The increasing globalization and information communication associated with commerce are confronted with the risk experienced over the years in the various production sectors of the economies. The research studied the influence of ICTs capital goods exports, industrial value addition, transportation energy, and globalization on insurance and financial services in a panel of 29 selected European and Central Asian nations. The research spanned from 2012 to 2021 and used a Panel quantile regression model. It was shown that insurance and financial services increased dramatically between the 0.40th and 0.90th quantiles due to technological progress. In addition, for quantiles between 0.10th and 0.90th, industrial value added is positively correlated with increased insurance and financial services. Quantile 0.10t show a negative and significant association between transportation energy and insurance risks. In contrast, quantiles between 0.40th and 0.90th show a positive and significant relationship, indicating a U-shaped relationship between these two variables. The causality findings validated the technology-led industrialization and transportation energy, while a bidirectional association was identified between globalization and transportation energy across nations. The variance decomposition results suggested that industrial value added, globalization, and technological advancement would exert greater variance shocks on the insurance and financial services sector over time. The study concludes that the progression of technology contributes to the maintenance of insurance performance in the age of globalization. This performance might be enhanced by developing more effective transportation energy services and industrial production. |
| first_indexed | 2024-09-23T23:58:38Z |
| format | Article |
| id | utm.eprints-105614 |
| institution | Universiti Teknologi Malaysia - ePrints |
| language | English |
| last_indexed | 2024-09-23T23:58:38Z |
| publishDate | 2023 |
| publisher | Econjournals |
| record_format | dspace |
| spelling | utm.eprints-1056142024-05-06T06:34:12Z http://eprints.utm.my/105614/ Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. Sriyanto, Sriyanto Imran, Muhammad Zaman, Khalid Khan, Haroon Ur Rashid Lutfiansyach, Dadang Yunus Parmono, Parmono Pathath, Abdul Wahab Jabor, Mohd. Khata H Social Sciences (General) HT101-395 Sociology, Urban The increasing globalization and information communication associated with commerce are confronted with the risk experienced over the years in the various production sectors of the economies. The research studied the influence of ICTs capital goods exports, industrial value addition, transportation energy, and globalization on insurance and financial services in a panel of 29 selected European and Central Asian nations. The research spanned from 2012 to 2021 and used a Panel quantile regression model. It was shown that insurance and financial services increased dramatically between the 0.40th and 0.90th quantiles due to technological progress. In addition, for quantiles between 0.10th and 0.90th, industrial value added is positively correlated with increased insurance and financial services. Quantile 0.10t show a negative and significant association between transportation energy and insurance risks. In contrast, quantiles between 0.40th and 0.90th show a positive and significant relationship, indicating a U-shaped relationship between these two variables. The causality findings validated the technology-led industrialization and transportation energy, while a bidirectional association was identified between globalization and transportation energy across nations. The variance decomposition results suggested that industrial value added, globalization, and technological advancement would exert greater variance shocks on the insurance and financial services sector over time. The study concludes that the progression of technology contributes to the maintenance of insurance performance in the age of globalization. This performance might be enhanced by developing more effective transportation energy services and industrial production. Econjournals 2023-03-24 Article PeerReviewed application/pdf en http://eprints.utm.my/105614/1/MohdKhataJabor2023_HarnessingthePowerofGlobalizationaStudyoftheAssociation.pdf Sriyanto, Sriyanto and Imran, Muhammad and Zaman, Khalid and Khan, Haroon Ur Rashid and Lutfiansyach, Dadang Yunus and Parmono, Parmono and Pathath, Abdul Wahab and Jabor, Mohd. Khata (2023) Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. International Journal of Energy Economics and Policy, 13 (2). pp. 453-461. ISSN 2146-4553 http://dx.doi.org/10.32479/ijeep.14291 DOI: 10.32479/ijeep.14291 |
| spellingShingle | H Social Sciences (General) HT101-395 Sociology, Urban Sriyanto, Sriyanto Imran, Muhammad Zaman, Khalid Khan, Haroon Ur Rashid Lutfiansyach, Dadang Yunus Parmono, Parmono Pathath, Abdul Wahab Jabor, Mohd. Khata Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. |
| title | Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. |
| title_full | Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. |
| title_fullStr | Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. |
| title_full_unstemmed | Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. |
| title_short | Harnessing the power of globalization: a study of the association between globalization, transportation energy, and insurance and financial services in Europe and Central Asia. |
| title_sort | harnessing the power of globalization a study of the association between globalization transportation energy and insurance and financial services in europe and central asia |
| topic | H Social Sciences (General) HT101-395 Sociology, Urban |
| url | http://eprints.utm.my/105614/1/MohdKhataJabor2023_HarnessingthePowerofGlobalizationaStudyoftheAssociation.pdf |
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