Journal of Advances in Economics and Finance

5

Authors: DING JiaJun, CHEN Sihang

Scientific and technological innovation, industrial upgrading and economic growth are the hotspots of current theoretical and practical research, and they are also important issues in a country's macroeconomic development. This paper takes the interactive mechanism of scientific and technological innovation, industrial upgrading and economic growth as the research content, and analyzes the connotation and interactive mechanism of scientific and technological innovation, industrial upgrading and economic growth from the theoretical and practical aspects, in order to clarify the endogenous driving force and mechanism of economic growth in the new era.

12

Authors: Ivivi Joseph Mwaniki

A search for a distribution which adequately describes the dynamics of log returns has been a subject of study for many years. Empirical evidence has resulted in stylized facts of returns. Arguably, in this study, the three components of returns, mean equation part, the changing variance part and the resulting residuals are determined and their corresponding parameters estimated within the proposed framework. Spectral density analysis is used to trace the seasonality component inherent in the standardized residuals. Empirical data sets from eight different indexes and common stock are applied to the model, and results tabulated in support of the resulting framework.