Waqas Hanif

Research Staff Member with PhD Degree
Researcher (Universidade do Algarve)

Ph.D. in Finance (IQRA University, 2018), M.Sc. in Finance (Mohammad Ali Jinnah University, 2012), B.A. in Finance (PMAS-Arid Agriculture University).

Research Topics

Time series analysis, Analysis of spillover effects, Tail dependence and correlation using Time varying Copulas, Upside and Downside VaR and CoVaR analysis, Wavelet Approach, Maximal Overlap Discrete Wavelet Transform (MODWT), Wavelet Multi-scale analysis, Multivariate GARCH modelling, Optimal Portfolio weights, Hedge Ratios, DY(2012) and BK(2018) time-frequency connectedness & spillover techniques, Quantile coherence and connectedness approach, Energy Economics (Renewable and Non- Renewable), Risk Management and Portfolio Diversification, and Financial Markets

Research output

Articles Published in Selected Journals (indexed in CEFAGE ranking)


Hanif, W., Gubareva, M., Mensi, W., Teplova,T. , (2023) , "Impact of Covid-19 on dynamic return and volatility spillovers between rare earth metals and renewable energy stock markets" , Resources Policy , 80 .
Hanif, W., Mensi, W., Alomari, M., & Andraz, J., M. , (2023) , "Downside and upside risk spillovers between precious metals and currency markets: Evidence from before and during COVID-19 crisis" , Resources Policy , 80 .
Mensi, W., Hanif, W., Bouri, E. and Vo, X.V. , (2023) , "Spillovers and tail dependence between oil and US sectoral stock markets before and during COVID-19 pandemic" , International Journal of Emerging Markets .


Hanif, W., Hernandez, J. A., Troster, V., Kang, S. H., & Yoon, S. M. , (2022) , "Nonlinear dependence and spillovers between cryptocurrency and global/regional equity markets" , Pacific Basin Finance Journal .


Hanif, W., Hernandez, J. A., Mensi, W., Kang, S. H., Uddin, G. S., & Yoon, S. M. , (2021) , "Nonlinear dependence and connectedness between clean/renewable energy sector equity and European emission allowance prices" , Energy Economics .
Hanif, W., Hernandez, J. A., Shahzad, S. J. H., & Yoon, S. M. , (2021) , "Tail dependence risk and spillovers between oil and food prices" , Quarterly Review of Economics and Finance , 80 , 195-209 .
Hanif, W., Mensi, W., & Vo, X. V. , (2021) , "Impacts of COVID-19 outbreak on the spillovers between US and Chinese stock sectors" , Finance Research Letters , 40 .


Hanif, W., Arreola-Hernandez, J., Hussain Shahzad, S. J., Hoang, T. H. V., & Yoon, S. M. , (2020) , "Regional and copula estimation effects on EU and US energy equity portfolios" , Applied Economics , 52 , 5311-5342 .
Hanif, W., Hernandez, J. A., Sadorsky, P., & Yoon, S. M. , (2020) , "Are the interdependence characteristics of the US and Canadian energy equity sectors nonlinear and asymmetric?" , The North American Journal of Economics and Finance , 51 .
Khan, M., & Hanif, W. , (2020) , "Institutional quality and the relationship between inflation and economic growth" , Empirical Economics (ABS 2) , 58 , 627-649 .


Shahzad, F., Rehman, I. U., Hanif, W., Asim, G. A., & Baig, M. H. , (2019) , "The influence of financial reporting quality and audit quality on investment efficiency: Evidence from Pakistan" , International Journal of Accounting and Information Management (ABS 2) , 27 , 600-614 .


Ahad, M., ur Rehman, I., Qureshi, F., Hanif, W., & Anwer, Z. , (2018) , "Modelling Asymmetric Impact of Home Country Macroeconomic Variables on American Depository Receipts: Evidence from Eurozone" , Annals of Economics and Finance (ABS 2) , 19 , 703-727 .

Articles Published in ISI Journals (not indexed in CEFAGE ranking)


Shahzad, S. J. H., Hernandez, J. A., Hanif, W., & Kayani, G. M. , (2018) , "Intraday return inefficiency and long memory in the volatilities of forex markets and the role of trading volume" , Physica A: Statistical Mechanics and its Applications , 506 , 433-450 .

Articles Published in Other Peer-review Journals


Hanif, W., & Khan, M. , (2017) , "Hedging Effectiveness of Commodities in the Stock Portfolio: Empirical Evidence from Pakistan Stock Exchange using Multivariate GARCH Models" , South Asian Journal of Management Sciences (SAJMS), Iqra University , 11 , 153-175 .