Khan, Asad ul Islam
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Organizasyon Birimleri
Yönetim Bilimleri Fakültesi, İktisat Bölümü
İktisat Bölümü, başta Türkiye ve çevre ülkeler olmak üzere küresel ekonomileri anlayan, var olan sorunları analiz ederken, iktisadi kuramları ve kavramları yetkin ve özgün bir şekilde kullanma becerisine sahip bireyler yetiştirmeyi amaçlamaktadır.
Adı Soyadı
Khan
İlgi Alanları
Solunum Sistemi, Genel ve Dahili Tıp, Çevre Bilimleri ve Ekoloji, İş Ekonomisi, Bilim ve Teknoloji
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Yayın The language of sustainability: Exploring the implications of metaphors on environmental action and finance(Corvinus University of Budapest, 2023) Napari, Ayuba; Özcan, Rasim; Khan, Asad ul Islam; Özcan, Rasim; Yönetim Bilimleri Fakültesi, İktisat BölümüThe relationship between humans and the environment is complex. To capture this complex relationship, metaphors/concepts have always been used. The most prominent of these metaphors/conceptions is the limits concept. This views the natural environment in terms of its carrying capacity and contend that human actions must be controlled so as not to overwhelm the environment. For overburdening the environment will result in a collapse of the natural system. The environmental optimists on the other hand discount the carrying capacity contending that human ingenuity and the market mechanism will overcome any temporary environmental problems that may arise. A tempered version of both is the political-ecological class of metaphors/conceptions which emphasize the political, cultural, and economic factors responsible for environmental decay and/or restoration. In this study, the implications of these metaphors/conceptions on environmental action and environmental finance are examined. It is concluded that, the limits conception views environmental action as a top-bottom endeavor and places governmental and multilateral organizations at the center of environmental and climate finance. The neoclassical and technological optimist concepts contend that, the current capitalist structure is well suited to tackle environmental externalities and government policy should encourage eco-innovation preferable through public-private partnerships. The tapestry and the political-ecological class of metaphors envisages a role for central authorities as well as private local individuals with crowdfunding and corporate social/environmental responsibilities along with governmental and multilateral aid and public-private partnerships being some of the main sources of funds for environmental protection and restoration.Yayın Choosing solitude in turmoil, herding in the decentralized finance (DeFi) token market: An international perspective(Korea Distribution Science Assoc, 2022) Khan, Asad ul Islam; Özcan, Rasim; Turgut, Murat; Napari, Ayuba; Yönetim Bilimleri Fakültesi, İktisat BölümüFinancial markets have long been known to be prone to behavioral biases. One such behavioural bias that is consequential yet pervasive in financial markets is the herd effect. The objective of this study is to determine whether or not there exist herd behaviour in the new and bourgeoning Decentralized Finance (DeFi) Tokens market. This is accomplished by using daily returns of 22 DeFi tokens from January 29, 2017 to August 19, 2021, and the Cross-sectional Absolute Deviation (CSAD) of market returns to capture herd behavior. The results fail to provide any evidence of herding in the DeFi token market on bullish days, that is days for which the average market returns is positive. For bearish days however, that is days for which the market returns is negative, our empirical findings point to the presence of adverse herding in the DeFi token market. This phenomenon can be explained to some extent by the investor composition of the DeFi market. The DeFi token space is a growth market dominated by experts and/or enthusiasts who are insulated against the temptation and panic of negative market swings by the level of market and technical information they possess on the assets they invest.Yayın Monetary policy and nonperforming loan ratios in a monetary union; a counterfactual study(Emerald Publishing, 2023) Özcan, Rasim; Khan, Asad ul Islam; Napari, Ayuba; Yönetim Bilimleri Fakültesi, İktisat BölümüPurpose – For close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the impact such a unionised monetary regime will have on financial stability as represented by the nonperforming loan ratios of Ghana in a counterfactual framework. Design/methodology/approach – This study models nonperforming loan ratios as dependent on the monetary policy rate and the business cycle. The study then used historical data to estimate the parameters of the nonperforming loan ratio response function using an Autoregressive Distributed Lag (ARDL) approach. The estimated parameters are further used to estimate the impact of several counterfactual unionised monetary policy rates on the nonperforming loan ratios and its volatility of Ghana. As robustness check, the Least Absolute Shrinkage Selection Operator (LASSO) regression is also used to estimate the nonperforming loan ratios response function and to predict nonperforming loans under the counterfactual unionised monetary policy rates. Findings – The results of the counterfactual study reveals that the apparent cost of monetary unification is much less than supposed with a monetary union likely to dampen volatility in non-performing loans in Ghana. As such, the WAMZ members should increase the pace towards monetary unification. Originality/value – The paper contributes to the existing literature by explicitly modelling nonperforming loan ratios as dependent on monetary policy and the business cycle. The study also settles the debate on the financial stability cost of a monetary union due to the nonalignment of business cycles and economic structures.Yayın Subsample stability, change detection and dynamics of oil and metal markets: A recursive approach(Elsevier, 2023) Khan, Asad ul Islam; Shahbaz, Muhammad; Napari, Ayuba; Yönetim Bilimleri Fakültesi, İktisat BölümüThe analysis of historical price data for patterns and using such patterns for predictions and policy recommendations has become ubiquitous in the existing economics literature. These predictions and recommendations are premised on the stability of the statistical properties and inter-variable dynamics for which a single regime or few number of regimes can capture. This, however, is a strong assumption with serious repercussions if violated. In this study, the appropriateness of the stability assumption is questioned using various recursive regressions to test stability, consistency of stationarity and stability in inter-variable dynamics between crude oil, gold, silver, and platinum prices. Using monthly data sourced from the World Bank Commodity Price Data (Pink Sheet) from January 1, 9960 to March 2022, our empirical analysis found level prices of oil, gold, and platinum to be consistently non-stationary with rare exceptions. The level price of silver however is found to be inconsistent with multiple regime switches while the logged series of all variables yielded non-stationarity. The default is stationarity for all the variables when price series are logged differenced and/or differenced for oil, silver, and platinum. Differenced gold prices resulted in inconsistent stationarity with multiple regime changes. Even if rare, the stationarity of all the variables is dependent on time and sample size due to the inconsistence in the stationarity verdict. On the bi-variate relationship in the long run, only level silver prices are found to be cointegrated with oil while logged silver prices are inconsistently cointegrated with logged oil prices. Also, in the short-run, only log of oil prices is found to Granger cause log of silver prices. It is thus recommended that researchers and policy makers be tempered in extrapolating statistical findings in general and the price and interprice dynamics of oil, gold, silver and platinum into the future.
