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Название: | Do Geopolitical Tensions and Economic Policy Uncertainties Reorient Mineral Imports in the USA? A Fat-Tailed Data Analysis Using Novel Quantile Approaches |
Авторы: | Islam, M. M. Sohag, K. Rehman, F. U. |
Дата публикации: | 2023 |
Издатель: | MDPI |
Библиографическое описание: | Islam, MM, Sohag, K & Rehman, FU 2023, 'Do Geopolitical Tensions and Economic Policy Uncertainties Reorient Mineral Imports in the USA? A Fat-Tailed Data Analysis Using Novel Quantile Approaches', Mathematics, Том. 11, № 1, 180. https://doi.org/10.3390/math11010180 Islam, M. M., Sohag, K., & Rehman, F. U. (2023). Do Geopolitical Tensions and Economic Policy Uncertainties Reorient Mineral Imports in the USA? A Fat-Tailed Data Analysis Using Novel Quantile Approaches. Mathematics, 11(1), [180]. https://doi.org/10.3390/math11010180 |
Аннотация: | Mineral resources are essential raw materials to generate electricity, fuel vehicles, and heat homes and workplaces. Besides, the global agenda of clean energy deployment, including solar photovoltaics (PV), wind turbines, electric vehicles (EV), and storage facilities, calls for a considerable volume of critical minerals, which elevates their respective import demands. This highly concentrated source of those minerals poses a significant concern triggered by the augmented geopolitical tensions and economic policy uncertainties. In light of this context, our objective is to estimate the response of mineral import demand to global geopolitical risk events and economic policy uncertainty covering monthly data from January 1996 to December 2020. In doing so, we apply the cross-quantilogram (CQ) and the quantile-on-quantile (QQ) regression approaches due to the fat-tailed nature of the data property. Besides, these quantile-based data analysis procedures are appropriate for non-normal data sets and show the co-movement of the variables of interest under a bi-variate modelling approach. More importantly, these two techniques also exhibit the quantile connectedness among the variables in the bearish and bullish conditions. Moreover, our findings show that mineral import demand responds negatively to the USA’s (own) and global geopolitical risk events at the high quantiles under long memory. In addition, this demand reacts positively to the USA’s (own) and global economic policy uncertainty in entire quantiles under long memory. Therefore, our policy suggestions are concerned with tackling geopolitical tensions and economic policy uncertainty by adopting pre-emptive measures within a viable institutional mechanism to continue impressive mineral trade flows. © 2022 by the authors. |
Ключевые слова: | ECONOMIC POLICY UNCERTAINTY GEOPOLITICAL RISKS MINERAL IMPORT DEMAND THE CROSS-QUANTILOGRAM THE QUANTILE-ON-QUANTILE USA |
URI: | http://elar.urfu.ru/handle/10995/130570 |
Условия доступа: | info:eu-repo/semantics/openAccess cc-by |
Текст лицензии: | https://creativecommons.org/licenses/by/4.0/ |
Идентификатор SCOPUS: | 85145914663 |
Идентификатор WOS: | 000908849300001 |
Идентификатор PURE: | 33313820 |
ISSN: | 2227-7390 |
DOI: | 10.3390/math11010180 |
Сведения о поддержке: | Ministry of Education and Science of the Russian Federation, Minobrnauka; Ural Federal University, UrFU The research funding from the Ministry of Science and Higher Education of the Russian Federation (Ural Federal University project within the Priority-2030 Program) is gratefully acknowledged. |
Располагается в коллекциях: | Научные публикации ученых УрФУ, проиндексированные в SCOPUS и WoS CC |
Файлы этого ресурса:
Файл | Описание | Размер | Формат | |
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2-s2.0-85145914663.pdf | 3,64 MB | Adobe PDF | Просмотреть/Открыть |
Лицензия на ресурс: Лицензия Creative Commons