Now showing items 41-60 of 1350

    • ‘Judging’ Lesbians: Prospects for Advancing Lesbian Rights Protection through Courts in Nigeria

      Obani, Pedi (Routledge, 2021)
      Nigeria is one of many countries in Africa that criminalize same-sex relations, and this has been reinforced by law enforcement agencies and the courts. As part of efforts to protect LGBTQ (lesbian, gay, bisexual, transgender, and queer) persons from various forms of discrimination and violence, the growing LGBTQ movement sometimes approaches the court for rights enforcement. There is a dearth of cases specifically focused on lesbian rights except for a 2018 case, Pamela Adie v. Corporate Affairs Commission. This limits empirical evidence for assessing the role of the courts but also strengthens the case for an enquiry into how the courts can protect lesbians in Nigeria against discrimination on the grounds of their sexual identity. This chapter analyzes how intersecting categories of gender, sexual orientation, class, and location affect lesbians’ experiences of discrimination. It also explores impediments in laws and the formal justice system that result in discrimination, thereby affecting access to justice. The analysis reveals opportunities for the courts to adopt a proactive approach to interpreting fundamental rights guarantees in the constitution of the Federal Republic of Nigeria 1999. Pragmatic recommendations are made for a multi-stakeholder approach and cross-jurisdictional learning.
    • COVID-19 and the Human Rights to Water and Sanitation

      Obani, Pedi (Routledge, 30/06/2021)
      The coronavirus (COVID-19) pandemic coincides with the tenth anniversary of the recognition of the rights to water and sanitation within the United Nations system. Although water, sanitation and hygiene (WASH) remain critical for COVID-19 infection prevention and control, billions of people around the world lack access to basic WASH services in different spheres of life. Mostly affected are people living in vulnerable situations. While the pandemic has significantly impacted regulatory practices and access, key actors in the WASH sector continue to adopt diverse approaches to ensure safety, continuity, and reliability of supply. This chapter explores how COVID-19 influences WASH services and how the rights to water and sanitation can ultimately strengthen resilience to health pandemics? It makes recommendations from the perspective of inclusive development theory, for strengthening WASH sector governance towards ensuring the progressive realization of the rights to water and sanitation during and post the COVID-19 pandemic. Experiences with the coronavirus pandemic illustrate the crucial importance of access to water and sanitation as basic human rights and as necessities for the realization of health, education, food, gender equality, and other human rights (United Nations 2020). Emergent issues, particularly include the high public health risks associated with lack of water and sanitation and the disproportionate burden borne by women and girls, transgendered people, people living in informal settlements, people living with disabilities, the urban poor, migrant workers, workers in the informal sector, people who are sick or living with underlying health conditions, the elderly, school-aged children, and other groups living in vulnerable situations (Banerji 2020; Tan 2020; UNESCO n.d.). These highlight intersecting layers of inequalities in different situations of vulnerability and the interconnectedness of human rights. The pandemic has also demonstrated the imperative of leaving no one behind and ensuring universal access to water and sanitation to achieve sustainable development. From Africa to the Pan-European region, it is a similar picture: there are remarkable inequities in access to water and sanitation based on whether people live in urban or rural areas, whether people are rich or poor, and whether they have any special circumstances which render them vulnerable (Local Burden of Disease WaSH Collaborators 2020; Wang et al. 2019; World Health Organization & UN-Water 2019; United Nations 2020). Furthermore, because of the pandemic, several assumptions and modes of service delivery need to be reexamined to ensure continued suitability for promoting universal access to water and sanitation. It is in light of these realizations that this chapter examines the question: How has COVID-19 influenced water, sanitation and hygiene services and how can the rights to water and sanitation strengthen resilience in health pandemics? This question is addressed from the perspective of inclusive development theory which emphasizes the need to address the social, relational, and ecological aspects of human development (Gupta, Pouw, & Ros-Tonen 2015).
    • Climate Litigation in South Africa and Nigeria: Legal Opportunities and Gender Perspectives

      Obani, Pedi (25/01/2024)
      This chapter explores climate change cases from South Africa and Nigeria through a legal opportunity structures (LOS) lens. Understanding the effects of LOS is critical for sustaining climate litigation momentum across countries. Further, the academic literature on climate litigation hardly covers gender issues, even though women’s vulnerability to adverse climate change impacts and limited access to resources for adaptation are widely acknowledged. The receptivity of the existing LOS to women’s unique experiences affects their ability to engage in climate litigation and prospects for accessing climate justice through the courts. The chapter, therefore, undertakes a gender-sensitive analysis of the relevant literature, laws and decisions of courts from South Africa and Nigeria to conceptualize the LOS for climate litigation.
    • Climate policy uncertainty and firm-level total factor productivity: Evidence from China

      Ren, X.; Zhang, X.; Yan, C.; Gozgor, Giray (2022-09)
      Using 2605 Chinese A-share listed companies in the mining, manufacturing, and energy production and supply sectors from 2009 to 2020, we examine the relationship between climate policy uncertainty (CPU) and firm-level total factor productivity (TFP). The main findings are as follows: First, CPU significantly reduces firm-level TFP, with a greater impact on low-productivity firms than on high-productivity firms; second, the negative effect of CPU on firm-level TFP is most pronounced for non-state-owned, labor-intensive, and capital-intensive companies; third, CPU hinders research and development investment and reduces the amount of free cash flow. These results indicate that CPU exerts negative impacts on firm-level TFP mainly via its effects on the capital status of the companies. Our findings remain valid after a series of robustness tests and controlling for endogeneity. The government should introduce forward-looking climate policies to reduce the negative impact of policy uncertainty.
    • Welfare gains from international trade and renewable energy demand: Evidence from the OECD countries

      Lu, Z.; Gozgor, Giray; Mahalik, M.K.; Padhan, H.; Yan, C. (2022-08)
      This paper uses a new measure of international trade, i.e. the international trade potential index, to measure the welfare gains from trade across countries. The measure is based on the import shares of countries in their gross domestic products. It is observed that gains from international trade are low in prosperous economies, but they are larger in poorer economies. Then, the paper investigates the impact of the index of international trade potential on renewable energy consumption in the unbalanced panel dataset of 36 Organisation for Economic Co-operation and Development member countries from 1966 to 2016. The novel evidence is that international trade potential is positively related to renewable energy consumption. It is also found that per capita income, per capita carbon dioxide emissions, and energy prices increase the demand for renewable energy.
    • Oil price shocks and exchange rate dynamics: Evidence from decomposed and partial connectedness measures for oil importing and exporting economies

      Chatziantoniou, I.; Elsayed, A.H.; Gabauer, D.; Gozgor, Giray (2023-04)
      This paper introduces a novel framework of partial connectedness measures to investigate contagion dynamics between different types of oil price shocks and exchange rates. Oil price shocks are persistent net transmitters of shocks within the network. It is found that the oil shock net spillovers made up most of the net connectedness values in most countries during the pre-COVID-19 period. Both oil exporters and oil importers, without any exception, were all net receivers of shocks. However, during the COVID-19 era, there were significant differences within the groups of countries. It is also observed that the oil-risk shock transmits to the other two types of oil shocks in the pre-COVID-19 and during the COVID-19 periods. The results may have potential implications for traders.
    • The impact of geopolitical risks on renewable energy demand in OECD countries

      Zhao, Z.; Gozgor, Giray; Lau, M.C.K.; Mahalik, M.K.; Patel, G.; Khalfaoui, R. (2023-06)
      This paper examines the effects of geopolitical risks on renewable energy demand in 20 Organization for Economic Co-operation and Development (OECD) member countries from 1970 to 2019. The renewable energy demand function includes carbon dioxide (CO2) emissions, economic globalisation, natural resources rents, and per capita income as control variables. It is found that geopolitical risks reduce the demand for renewable energy and threaten climate change mitigation policies. Degrading the environment in terms of rising CO2 emissions is detrimental to the renewable energy demand. Natural resource rents also decrease renewable energy consumption. However, higher per capita income and economic globalisation significantly increase renewable energy consumption. These findings bear crucial policy implications for the Russia-Ukraine War era, suggesting that geopolitical risks discourage renewable energy demand. Therefore, policymakers in the OECD countries should focus on geopolitical harmony among economic agents, groups, and regions.
    • How does digital finance affect industrial structure upgrading? Evidence from Chinese prefecture-level cities

      Ren, X.; Zeng, G.; Gozgor, Giray (2023-03)
      Digital finance is playing an increasingly prominent role in economic development. This paper examines the impact of digital finance on industrial structure upgrading based on panel data from 289 Chinese prefecture-level cities from 2011 to 2020. The paper adopts fixed effects, mediating effects, and spatial econometric models and the findings are as follows. First, digital finance development significantly boosts industrial structure upgrading in Chinese cities. The evidence remains valid after various robustness tests. Second, digital finance and industrial structure upgrading exhibit positive spatial spillover effects. Third, digital finance indirectly affects industrial structure upgrading through innovation, entrepreneurship and the structure of household consumption channels. Fourth, the influence of digital finance is more significant in cities with more developed economies, less financialization and lower income inequality. Finally, among the sub-indicators of digital finance, the breadth of coverage plays the most significant role, inspiring policymakers and financial institutions to speed up the digitization infrastructure in backward areas.
    • The role of the COVID-19 pandemic in time-frequency connectedness between oil market shocks and green bond markets: Evidence from the wavelet-based quantile approaches

      Wei, P.; Qi, Y.; Ren, X.; Gozgor, Giray (2023-05)
      This study contributes to the existing literature on the relationship between oil market shocks and the green bond market by investigating the impact of the COVID-19 pandemic on their dynamic correlation. We first decompose the oil market shocks into components using a time-frequency framework. Then, we combine wavelet decomposition and quantile coherence and causality methods to discuss changes during the COVID-19 era. We observe positive effects of both supply-driven and demand-driven oil shocks on the green bond market at most quantile levels. However, supply-driven oil price changes play a major role. The results also indicate that long-term changes have a greater impact than short-term changes on the connection between oil and green bond markets. Nevertheless, the COVID-19 pandemic changed the nature of the causal relationship, as we observed no relationship under extreme market conditions during the pandemic era. We argue that the economic and social impacts of the COVID-19 pandemic have left investors focusing on the short-term substitution between oil and green bond markets.
    • Does carbon price uncertainty affect stock price crash risk? Evidence from China

      Ren, X.; Zhong, Y.; Cheng, X.; Yan, C.; Gozgor, Giray (2023-06)
      This study examines the effect of carbon price uncertainty on stock price crash risk. Utilizing the dynamic panel model on the data of Chinese listed firms from 2011 to 2018, we find that high carbon price uncertainty increases stock price crash risk. The impact of carbon price uncertainty is more prominent in the heavily polluting industries and during the post-period of the Paris agreement. The two underlying channels through which carbon price uncertainty induces stock price crashes are managers' hoarding of bad news and investors' heterogeneity. Furthermore, reducing information asymmetry inside and outside the firms can mitigate the influence of carbon price uncertainty on stock price crash risk. Our findings demonstrate that carbon price uncertainty as a newly underexplored factor induced by the prevailing curb of catastrophe risks has unintended but important implications on stock prices.
    • Understanding the FTX exchange collapse: A dynamic connectedness approach

      Akyildirim, Erdinc; Conlon, T.; Corbet, S.; Goodell, J.W. (2023-05)
      Employing a TVP-VAR dynamic connectedness analysis, we identify avenues through which the collapse of the FTX exchange manifested contagion effects throughout a number of financial markets. Results indicate that interaction effects become significantly pronounced, coinciding with key milestones during the collapse of FTX and related companies. Specifically, sources of contagion stem from two tokens created by the exchange and related companies, namely FTT Token and Serum. Such results further develop the expanding literature based on the inherent contagion effects of such unregulated products.
    • Statistical arbitrage: Factor investing approach

      Akyildirim, Erdinc; Goncu, A.; Hekimoglu, A.; Nquyen, D.K.; Sensoy, A. (2023)
      We introduce a continuous time model for stock prices in a general factor representation with the noise driven by a geometric Brownian motion process. We derive the theoretical hitting probability distribution for the long-until-barrier strategies and the conditions for statistical arbitrage. We optimize our statistical arbitrage strategies with respect to the expected discounted returns and the Sharpe ratio. Bootstrapping results show that the theoretical hitting probability distribution is a realistic representation of the empirical hitting probabilities. We test the empirical performance of the long-until-barrier strategies using US equities and demonstrate that our trading rules can generate statistical arbitrage profits.
    • BEPS: Changing International Fiscal Standards and the Unchanging Fortunes of ‘Sustainable Development’

      Kumar, Ajay (27/06/2023)
      The OECD led BEPS project attempts key changes to the international tax standards to limit harmful tax avoidance. First, it is found that calls for the BEPS project are based on arguments (illicit financial flows and tax competition) that are supported by limited evidence and hence may not offer much fiscal gain to the developing countries. Second, it is found that the BEPS project would, through information sharing, further limit the fiscal jurisdiction of capital importing states. Further it is found that tax competition, even if existing in a limited form, is a result of the international tax architecture and the externalities caused by it. In fact, it is seen that the MNCs actually reduce the inefficiencies created by this tax architecture and thereby reduce transaction costs. By agreeing to the BEPS agenda of information sharing the developing countries would be paying the cost of internalising the externality.
    • Managing Municipal Solid Waste: Perspectives from West Africa

      Omodanisi, K.; Okukpon, Irekpitan (Makerere Law Journal, 2022-09)
      This paper is a comparative analysis of Municipal Solid Waste Management in West Africa focusing on Ghana, Mali and Nigeria. The paper offers a rich discussion on Municipal Solid Waste, (hereinafter referred to as MSW), its negative impacts, possible benefits and missed opportunities due to mismanagement of the same. The discussion focuses on both international and domestic legislation of the case study states on MSW and the right to environment. Inevitably, this extends to policy considerations in as far as they impact on MSW management, and to recommendations intended to enable the case study states realise the benefits of a proper MSW management system that is in line with global standards and the right to clean and healthy environment.
    • Bank Crisis Management and Resolution Legal Regimes In India And The European Union

      Kapsis, I.; Shikha, Neeti (24/02/2023)
      The paper contains a critical review of the bank crisis management and resolution legal regimes in India and the European Union (EU). The purpose of the review is to use the EU framework as a case study to infer lessons that India could use as it moves to up date its own legal framework in this area. EU was selected because it adopted extensive reforms in its bank crisis management and resolution legal regimes following the global financial crisis (GFC) and the sovereign debt crisis in the eurozone during 2008-12. The two crises resulted insignificant bank failures in EU and caused massive public interventions and costly bank bailouts. The post-crisis EU framework aims to create a special resolution regime for banks in order to improve the process of managing bank failures, while ensuring the avoidance of publicly funded bank bailouts, especially for systemically important banks (SIBs). The EU framework also incorporates the proposals of international standards setters especially of Financial Stability Board (FSB) for the resolution of banks. The EU experience from the implementation of the reforms could be useful to India, which has recently embarked on efforts to update its own legal framework for bank resolution. India is moving in this direction at a slower pace than EU due to the fact that India did not suffer significant bank failures during the GFC. The paper reviews critically the Indian and EU approaches to bank resolution and makes recommendations for improving these frameworks.
    • The Duality Impact of Artificial Intelligence against Countering and Preventing Violent Extremism: What Law Got to do with it?

      Wan Rosli, Wan R.; Kamaruddin, S.; Abd Rani, A.R.; Mohammad, A.M.; Hamin, Z. (2023-06)
      In the past decade, information technology and the Internet have helped fuel radicalisation and violent extremism (VE), which have transcended from the real world to cyberspace. The emergence of new technologies such as Artificial Intelligence (AI) has also paved the way for insurgents to spread their propaganda using such disruptive technologies. The duality of AI proved that while such new technology can bring vast improvements to various sectors, it also has the potential to facilitate extremist behaviours and activities. Terrorist and violent rebels have shifted their ways to use technologies such as AI to spread radical ideology and propaganda, recruit new members, organize financial support and operational tactics and manage online communities. Similarly, AI is seen as a holy grail especially in predictive analytics in the race to prevent and counter-terrorist activities. This research employs qualitative methodology, in which the primary data was collected through semi-structured interviews. The sampling method in this research is purposive sampling and the qualitative data analysis was conducted through thematic and content analysis, in which the observations and the interview transcripts from the semi-structured interviews were examined. The primary data were triangulated with data obtained from the stakeholders. The findings revealed that while the use of AI facilitates enforcers in predicting extremist activities, detecting misinformation and countering extremist narratives, such technology has also aided terrorists and extremists in spreading mass information via automatise chatbots and coordinating information and attacks. The use of AI is said to be a double-edged sword where it serves the aims of a nation’s cybersecurity strategies, but at the same time aid extremists in fulfilling their radical goals. The legal landscape governing AI is still scarce and challenges such as duality call for a specific legal guideline or legislation to aid in the effective governing of such crime.
    • The legal response to cyberstalking in Malaysia

      Wan Rosli, Wan R.; Hamin, Z. (2023-04)
      In the past two decades, the Internet has been an integral part of our daily lives. The dependency on the Internet and having unlimited access to modern communication systems has brought numerous benefits for users worldwide. However, as a double-edged sword, such systems has also generated a high degree of risk of victimisation from a myriad of cybercrimes, including cyberstalking. Evidence has indicated that cyberstalking has led to more heinous crimes such as cyber fraud and cyber defamation through data mining and social engineering. Moreover, severe repercussion occurs when the crime transcends into the real world which results in rape and even murder. Given the severe impacts of cyberstalking and the nature of such crime in other Western countries, the perception of the law's adequacy remains vague in the current Malaysian legal landscape. Hence, this paper aims at examining the perception of the criminalisation of cyberstalking in Malaysia, the various motives of cyberstalkers in the commission of such crime and the protection afforded to victims of cyberstalking. The paper will also discuss the legal response to cyberstalking in the United Kingdom and European Union focusing on how these countries govern such crime within their jurisdiction. This paper adopts a qualitative methodology, of which the primary data is generated from semi-structured interviews with the relevant stakeholders and victims. The secondary data are the Communications and Multimedia Act 1998, the Penal Code, books, academic journals, online databases, and other library-based sources. The sampling method in this research is purposive sampling and the qualitative data analysis was conducted through thematic and content analysis, in which the observations and the interview transcripts from the semi-structured interviews were examined. The primary data were triangulated with the semi-structured interview data obtained from an officer from the Ministry of Communication and Multimedia and another officer from the Ministry of Women, Family and Community Development. The findings revealed contradictory views on the effective response of the criminal justice system towards cyberstalking, which explains the under-reporting of such crime. Reports has also highlighted that more than 70 per cent of stalking victims are reluctant to lodge a police report due to the belief that enforcement officers would be unhelpful. The findings highlighted that the under-reporting by victim and under-recording by police combined with frequent unresponsiveness of prosecutors and judges leads to significant barriers for effective criminal justice responses to stalking offences. Also, the motivations of cyberstalkers were evident, such as jealousy and obsession. Furthermore, the stalkers may share traits such as envy, a pathological obsession, including professional or sexual fixation, unemployment or failure with their job or life, and a cruel intention to intimidate or cause others to feel inferior Significantly, the findings illustrate that the current Malaysian legal framework on cyberstalking is deficient in protecting cyberstalking victims, which calls for an urgent need for a review in the Malaysian laws.
    • Governing Cyberstalking via the Use of Artificial Intelligence in Malaysia and the United Kingdom

      Wan Rosli, Wan R. (Bennet University, India, 2023)
      In the past two decades, the ultra-dependency and unlimited access to the Internet has changed relationships, and communication and have brought numerous benefits for users worldwide. However, as a double-edged sword, such technology has also generated a high degree of risk of victimisation, especially cyberstalking. Evidence has indicated that cyberstalking has led to more heinous crimes such as cyber fraud through data mining and social engineering. Moreover, when the crime transcends into the real world it results in rape and even murder. The use of new technologies such as artificial intelligence and machine learning has also aggravated the situation where victims are now exposed to various vulnerabilities and risks as it opens new pathways for stalkers to commit this heinous crime. Given the severe impacts of cyberstalking, this chapter will examine the nature of the crime, the use of artificial intelligence in committing stalking, the motives of cyberstalkers and the legal response towards the crime.
    • When The Spying Stop: Recent Criminalisation Of Cyberstalking In Malaysia

      Hamin, Z.; Kamaruddin, S.; Abd Rani, A.R.; Wan Rosli, Wan R. (2022-11)
      The ubiquity of the ICT and the Internet has made them integral to our daily lives in the past two decades, bringing numerous benefits and the risks of victimisation from various cybercrimes, including cyber harassment and cyberstalking. Stalking is generally understood as unwanted or unsolicited persistent and continuous following, pursuing, contacting, spying, harassing, threatening the victim, and causing fear and apprehension. Unfortunately, given the seriousness of cyberstalking and its severe and traumatic impacts on the victims, the existence of the law and any legal protection for victims remains elusive and vague in the Malaysian legal landscape for decades until August this year.