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Sustainability, sustainable finance, good governance codes. A new perspective

Author

Listed:
  • Amalia Morales-Zumaquero

    (Department of Economic Theory and Economic History, Universidad de Málaga, Málaga. Spain.)

  • Simón Sosvilla-Rivero

    (Complutense Institute for Economic Analysis, Universidad Complutense de Madrid, Madrid. Spain)

Abstract

We present new evidence on the volatility behaviour of major exchange rates, focusing on their permanent (long-run) and transitory (short-run) components. To achieve this, we conduct a causality analysis to explore their statistical relationship and identify their mutual influences. Our findings indicate that shocks to economic fundamentals (which correspond to the permanent volatility component) and market sentiment (associated with the transitory volatility component) reinforce one another, transmitting and intensifying tensions on a global scale, thus creating a complex and tightly interconnected network.

Suggested Citation

  • Amalia Morales-Zumaquero & Simón Sosvilla-Rivero, 2025. "Sustainability, sustainable finance, good governance codes. A new perspective," Revista de Economía y Finanzas (REyF), Asociación Cuadernos de Economía, vol. 3(7), pages 1-20, Enero.
    • Handle: RePEc:cud:journ2:v:3:y:2025:i:7:p:1-20
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    Keywords

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    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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