Analysis of Economic Uncertainty Policies on Technology Innovation of 24 Countries (1997-2022)

Authors

  • Muhammad Misbahudeen
  • Zhengrong Zhang
  • Abakar Idriss Younous

DOI:

https://doi.org/10.54097/r15y0581

Keywords:

Growth, Uncertainty, Forecast

Abstract

The research examined the impact of uncertainty of economic policies on technology innovation in twenty-four countries (1997-2022). It examines the performance of economic uncertainty of technological innovation from the global economic policy uncertainty data (1997-2022). Stationarity checks where obtained from the time-series data, including the Augmented Dickey-Fuller unit root test for Lag differences. We assessed risks attached to economic policy uncertainty in 24 countries with in-depth analysis for it causes. Also, the study forecast the GEPU for current price in the next five years, using the Autoregressive integrated moving averages (ARIMA).

Downloads

Download data is not yet available.

References

[1] Bloom, N., Floetotto, M., Jaimovich, N., Saporta‐ Eksten, I., & Terry, S. J. (2018). Really uncertain business cycles. Econometrica, 86(3), 1031-1065.

[2] Chi, Q., & Li, W. (2017). Economic policy uncertainty, credit risks and banks’ lending decisions: Evidence from Chinese commercial banks. China journal of accounting research, 10(1), 33-50.

[3] Christou, C., Cunado, J., Gupta, R., & Hassapis, C. (2017). Economic policy uncertainty and stock market returns in PacificRim countries: Evidence based on a Bayesian panel VAR model. Journal of multinational financial management, 40, 92-102.

[4] Davis, S. J. (2016). An index of global economic policy uncertainty (No. w22740). National Bureau of Economic Research.

[5] Degiannakis, S, & George, F. (2019). Forecasting European economic policy uncertainty. Scottish Journal of Political Economy, volume 66, issue 1, p.94.

[6] Fafurida, F., Purwaningsih, Y., Mulyanto, M., & Suryanto, S. (2023). Tourism Village Development: Measuring the Effectiveness of the Success of Village Development. Economies, 11(5), 133.

[7] Joliffe, L. (2004). The lure of tea: history, traditions and attractions. In Food tourism around the world (pp. 121-136). Routledge.

[8] Hou, R., & Wen, C. (2021). Sustainable Tea Garden Ecotourism Based on the Multifunctionality of Organic Agriculture Based on Artificial Intelligence Technology. Mobile Information Systems, 2021(1), 8696490.

[9] Iannotta, G., Nocera, G., & Sironi, A. (2007). Ownership structure, risk and performance in the European banking industry. Journal of Banking & Finance, 31(7), 2127- 2149.

[10] l. Jinliangi, & B., Jeffery A (2006). Presidential Election Uncertainty and Common Stock Returns in the United States. Journal of Financial Research, volume 29, issue 4, p. 609–631.

[11] Lindberg, K., Andersson, T. D., & Dellaert, B. G. (2001). Tourism development: Assessing social gains and losses. Annals of tourism research, 28(4), 1010-1030.

[12] Long, T., et al, Hu, R., Cheng, Z., Xu, C., Hu, Q., Liu, Q., ... & Long, C. (2023). Ethnobotanical study on herbal tea drinks in Guangxi, China. Journal of Ethnobiology and Ethnomedicine, 19(1), 10.

[13] Moudud-Ul-Huq, S., 2019. Banks’ capital buffers, risk, and efficiency in emerging economies: are they counter-cyclical? Eurasian Economic Review, 9(4), pp.467-492.

[14] Nguyen, C.P., Le, T.H. and Su, T.D., 2020. Economic policy uncertainty and credit growth: Evidence from a global sample. Research in International Business and Finance, 51, 1-19.

[15] Porta, R. L., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and finance. Journal of Political Economy, 106(6), 1113-1155.

[16] Roodman, David. 2009. “How to Do Xtabond2: An Introduction to Difference and System GMM in Stata.” Stata Journal 9 (1): 86–136.

[17] Tran, Q. T. (2019). Economic policy uncertainty and corporate risk-taking: International evidence. Journal of Multinational Financial Management, 52-53, 1-11.

[18] Nguyen, C.P., Le, T.H. and Su, T.D., 2020. Economic policy uncertainty and credit growth: Evidence from a global sample. Research in International Business and Finance, 51, 1-19.

[19] Shen, J., & Chou, R. J. (2022). Rural revitalization of Xiamei: The development experiences of integrating tea tourism with ancient village preservation. Journal of Rural Studies, 90, 42-52.

[20] Statistics Office of Thai Nguyen province, “Data on agriculture, forestry and fishery,” 2023. [Online]. Available: http://cucthongkethainguyen.gov.vn/nien-giam-thong-ke. [Accessed June, 2024].

[21] Trinh, T. T., Ryan, C., & Bui, H. D. (2020). Heritage, education and processes of change in Vietnamese rural tourism: A case study from Hội An. Journal of Vacation Marketing, 26(3), 378- 394.

[22] Roodman, David. 2009. “How to Do Xtabond2: An Introduction to Difference and System GMM in Stata.” Stata Journal 9 (1): 86–136. Tran, Q. T. (2019). Economic policy uncertainty and corporate risk-taking: International evidence. Journal of Multinational Financial Management, 52-53, 1-11.

[23] Torres, R., & Momsen, J. (2011). Tourism and agriculture: new geographies of consumption, production and rural restructuring. Routledge.

[24] Zhou, Q., Zhu, K., Kang, L., & Dávid, L. D. (2023). Tea culture tourism perception: a study on the harmony of importance and performance. Sustainability, 15(3), 2838.

[25] Yu, S.-D.; Zhang, J. (2022), Reinventing a Tradition: East Asian Tea Cultures in the Contemporary World. Asian J. Soc. Sci. 2022, 50, 167–170.

[26] Xu, Xiaocun. (2014). The Study of Tea. Beijing: Capital University of Economics and Business Press.

Downloads

Published

23-10-2025

Issue

Section

Articles

How to Cite

Misbahudeen, M., Zhang, Z., & Younous, A. I. (2025). Analysis of Economic Uncertainty Policies on Technology Innovation of 24 Countries (1997-2022). International Journal of Finance and Investment, 3(3), 38-42. https://doi.org/10.54097/r15y0581