OPEN ACCESS Journal of Economics and International Finance October-December 2020 ISSN 2006-9812 DOI 10.5897/JEIF www.academicjournals.org About JEIF The Journal of Economics and International Finance (JEIF) is a peer reviewed open access journal. The journal is published monthly and covers all areas of Economics and International Finance. Indexing Economics and Business Studies Database (EconBiz), German National Library of Economics (ZBW – Leibniz Information Centre for Economics) Google Scholar, Microsoft Academic Open Access Policy Open Access is a publication model that enables the dissemination of research articles to the global community without restriction through the internet. All articles published under open access can be accessed by anyone with internet connection. The Journal of Economics and International Finance is an Open Access journal. 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Neaime Department of Economics Department of International Trade Inha University Institute of Financial Economics American University of Beirut Incheon, Beirut, Korea. Lebanon. Prof. Anyanwu John Chukwudi Prof. Nathalie Jeanne-Marie Hilmi Development Research Department International University of Monaco African Development Bank Tunis, Hedge Funds Research Institute Monte-Carlo, Tunisia. France. Dr. Adrei Vernikov Prof. Osamah M. Al-Khazali Banking Department School of Business and Management Higher School of Economics American University of Sharjah, Moscow, UAE. Russia. Prof. Keith Pilbeam Dr. Guneratne B Wickremasinghe Department of Economics School of Accounting Faculty of Business and Law City University Victoria University Northampton Square, Melbourne, UK. Australia. Dr. Meltem Gürünlü Department of Economics and Finance University of Turin G. Prato, Italy. Editorial Board Dr. Gbadebo Olusegun Odularu Dr. Nikolay Sukhomlin Forum for Agricultural Research in Africa (FARA), Autonomous University Accra, Santo Domingo, Dominican Republic. Ghana. Dr.ilhan Ozturk Prof. Dev Tewari Çag University Faculty of Management Studies Faculty of Economics and Administrative Sciences School of Economics and Finance University of KwaZulu-Natal Mersin, Turkey. Durban, South Africa. Prof. Abdelkader Boudriga Department of Finance Dr. Tarek Chebbi Faculty of Law, Economics and Political Science School of Economics and Commerce Tunis, University of Sousse Tunisia. Sousse, Tunisia. Dr. Shivakumar Deene Prof. Hichri Walid Dept. of Commerce and Management, Karnataka State Open University, Gate & Uinversity of Lyon, Manasagangotri, Ecully, India. France. Dr. P. Malyadri Dr. Bora Aktan University of Bahrain Government Degree College, College of Business Administration Osmania University Department of Economics & Finance Tandur, India. Isa Town, Bahrain. Dr. Faten Hakim Ghorbel Dr. Davide Furceri Higher Institute of Business Administration Office of the Chief Economist Sfax, Tunisia. Economics Department Paris Cedex, France. Dr. John Mirikitani College of International Studies Dr. Abdul Jalil Hallym University Wuhan University Gangwon-do, Economics and Management School South Korea. Wuhan, China. Dr. Adrian Taran-Morosan Lucian Blaga University Prof. Silvia Ciotti Sibiu, Dept of Social and Environmental Sciences Romania. St. John International University Vinovo, Dr. Yongrok Choi Italy Inha University Incheon, Prof. Tessaleno Devezas South Korea. Advanced Materials and Technological Forecasting University of Beira Interior Dr. Hasan Muhammad Mohsin Covilhã, Quaid-i-Azam University Portugal. Islamabad, Pakistan. Editorial Board Dr. Rajender Kumar Dr. Abdul Qayyum Khan Department of Commerce COMSATS, Institute of Information Technology Rajdhani College Wah Cantt, University of Delhi Pakistan. New Delhi, India. Dr. Gillariose Raju Department of Commerce Dr. Hasan Fauzi University of Kerala ICSEARD-Faculty of Economics Palayam India. Sebelas Maret University Surakarta, Indonesia. Dr. Richard J. Cebula Jacksonville University Davis College of Business Dr. Meltem Gurunlu Jacksonville, FL Maltepe Universitesi IIBF Istanbul, USA. Turkey. Dr. Christophe Schinckus University of Leicester & London School of Economics Dr. Hassan R. Alhajhoj University of Leicester School of Business King Faisal University School of Management Hofuf, Leicester, Saudi Arabia. UK. Dr.Yudong Wang Dr. Qaiser Rafique Yasser University Malaysia Sarawak, Antai College of Economics and Management Sarawak, Shanghai Jiao Tong University Malaysia. Shanghai, China. Dr. Ayub Mehar SAARC Chamber of Commerce and Industry Dr. Gbadebo Olusegun Abidemi Odularu Karachi, Forum For Agricultural Research In Africa (Fara) Pakistan. Ghana. Dr. Aura Emanuela Domil Dr. Silviu Beciu West University from Timisoara Department of Management and Marketing Faculty of Economics and Business Administration University of Agronomic Sciences and Veterinary Medicine Timisoara, Bucharest Romania. Romania. Dr. Ken Chamuva Shawa Dr. Sangita Dutta Gupta Common Market for Eastern and Southern Africa Economics and Entrepreneurship