scholarly journals Financial stability and local economic development: the experience of Italian labour market areas

2021 ◽  
Author(s):  
Cristian Barra ◽  
Roberto Zotti
Keyword(s):  
Economic Development ◽  
Labour Market ◽  
Financial Distress ◽  
Financial Stability ◽  
Local Economic Development ◽  
Banking System ◽  
Spatial Effects ◽  
Financial Conditions ◽  
Market Areas ◽  
The Relationship

AbstractRegulators should ensure the smooth functioning of the system and promote regional development. Making the health of financial institutions is therefore a prerequisite for a sustainable economic development. This paper contributes to the literature on the relationship between the financial stability and growth within the area of one country. This implies that institutional, legal, and cultural factors are more adequately controlled for and financial markets are more accurately bounded. Using a rich sample of Italian banks over the 2001–2012 period, this paper addresses whether different measures of financial distress affect economic development of labour market areas in Italy. Results show that the financial stability has a positive effect on local economic development, robust to alternative variables capturing financial vulnerability. The presence of spatial effects is tested showing that better financial conditions of the banking system in neighbouring areas have a detrimental effect on an area’s growth.

scholarly journals Prediction of Urban and Rural Tourism Economic Forecast Based on Machine Learning

2021 ◽  
Vol 2021 ◽  
pp. 1-7
Author(s):  
Wusheng Zhou
Keyword(s):  
Time Series ◽  
Economic Development ◽  
Causal Relationship ◽  
Local Economic Development ◽  
Tourism Industry ◽  
Local Economy ◽  
Series Data ◽  
Economic Forecast ◽  
The Relationship ◽  
Tourism Revenue

With the rapid development of tourism, tourism revenue, as one of the important indicators to measure the development of the tourism economy, has high research value. The quasi-prediction of tourism revenue can drive the development of a series of related industries and accelerate the development of the domestic economy. When forecasting tourism income, it is necessary to examine the causal relationship between tourism income and local economic development. The traditional cointegration analysis method is to extract the promotion characteristics of tourism income to the local economy and construct a tourism income prediction model, but it cannot accurately describe the causal relationship between tourism income and local economic development and cannot accurately predict tourism income. We propose an optimized forecasting method of tourism revenue based on time series. This method first conducts a cointegration test on the time series data of the relationship between tourism income and local economic development, constructs a two-variable autoregressive model of tourism income and local economy, and uses the swarm intelligence method to test the causal relationship and the relationship between tourism income and local economic development, calculate the proportion of tourism industry, define the calculation result as the direct influence factor of tourism industry on the local economy, calculate the relevant effect of local tourism development and economic income, and construct tourism income optimization forecast model. The simulation results show that the model used can accurately predict tourism revenue.

Structural Change, Economic Development, and the Labour Market

2021 ◽  
pp. 577-595
Author(s):  
Önder Nomaler ◽  
Bart Verspagen ◽  
Adriaan van Zon
Keyword(s):  
Economic Development ◽  
Structural Change ◽  
Income Inequality ◽  
Income Distribution ◽  
Technological Change ◽  
Labour Market ◽  
Skill Premium ◽  
Skilled Labour ◽  
The Relationship ◽  
Specific Country

This chapter addresses the relationship between structural change and the income distribution. It raises the question of whether structural change increases or decreases income inequality. The chapter presents a multi-sectoral model in the so-called canonical modelling tradition. In this model the distributional outcomes depend on the mix of the labour supply in different technology classes and skill biases in technological change. Whether structural change has an effect depends on the specific country. When it does have an effect, it mainly benefits high-skilled labour. The skill premium for high-skilled labour thus contributes to increased income inequality. Both the relative supply of skills and skill-based technological change tend to increase income inequality, though not in all countries.

Policy Steps to Address the Corona Crisis

Policy Papers ◽  
2020 ◽  
Vol 20 (15) ◽  
Author(s):  
Keyword(s):  
Fiscal Policy ◽  
Economic Impact ◽  
Economic Activity ◽  
Financial Stability ◽  
Banking System ◽  
Central Banks ◽  
Market Liquidity ◽  
Financial Conditions ◽  
Corona Virus ◽  
Health Authorities

Monitoring, containing and mitigating the effects of the corona virus are top priorities. Timely and decisive actions by health authorities, central banks, fiscal, regulatory and supervisory authorities can help contain the virus outbreak and offset the economic impact of the pandemic. Central banks must support demand and confidence by preventing a tightening of financial conditions, lowering borrowing costs for households and firms, and ensuring market liquidity. Fiscal policy must step up to provide sizable support to the most affected people and firms, including in hard-to-reach informal sectors. Regulatory and supervisory responses must aim to preserve financial stability and banking system soundness while sustaining economic activity.

THE ROLE OF THE BANK OF RUSSIA IN REGULATING THE ACTIVITIES OF CREDIT INSTITUTIONS

2021 ◽  
Vol 3 (197) ◽  
pp. 70-75
Author(s):  
M.B. Tershukova ◽  
◽  
V.S. Abramov ◽  
Keyword(s):  
Financial Stability ◽  
Banking System ◽  
The Relationship ◽  
Credit Institutions

The article presents a study of the regulation of credit institutions activities carried out by the Bank of Russia. The relationship between the strengthening of the banking system and monetary regulation is revealed. In the process of monetary regulation, banks are influenced to improve their financial stability, which ultimately leads to the strengthening of the banking system. The author's suggestions for improving the regulation of the activities of credit institutions are presented.

scholarly journals More employers, more jobs, more money: An empirical analysis of local economic development policy impacts in US cities

2007 ◽  
Vol 54 (4) ◽  
pp. 445-467 ◽  
Author(s):  
Stuart Strother
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Development Policy ◽  
Local Economic Development ◽  
Tax Base ◽  
Data Set ◽  
Economic Development Policy ◽  
Development Policies ◽  
The Relationship ◽  
Us Cities

Local government leaders in the U. S. employ a multitude of programs and policies in the name of economic development to increase the number of firms, employment, wages, and, of course, the tax base. The past few decades have seen a surge in local economic development policies, yet research analyzing their effectiveness is sparse. This study analyzes the relationship between local economic development policy and economic growth in a data set of 412 U. S. cities. Results indicate that policy has only has a weak correlation with economic growth, suggesting that growth is determined more by market conditions rather than government intervention. The article concludes with an entrepreneurial policy approach this author believes may yield development results in an era of limited policy effectiveness.

scholarly journals Investigation on the Relationship between Satellite Air Quality Measurements and Industrial Production by Generalized Additive Modeling

2021 ◽  
Vol 13 (16) ◽  
pp. 3137
Author(s):  
Chao Tong ◽  
Chengxin Zhang ◽  
Cheng Liu
Keyword(s):  
Economic Development ◽  
Air Quality ◽  
Industrial Production ◽  
Industrial Structure ◽  
Local Economic Development ◽  
Additive Model ◽  
Atmospheric Pollutants ◽  
Green Economy ◽  
Air Quality Measurements ◽  
The Relationship

The development of the green economy is universally recognized as a solution to natural resource shortages and environmental pollution. When exploring and developing a green economy, it is important to study the relationships between the environment and economic development. As opposed to descriptive and qualitative research without modeling or based on environmental Kuznets curves, quantitative relationships between environmental protection and economic development must be identified for exploration and practice. In this paper, we used the generalized additive model (GAM) regression method to identify relationships between atmospheric pollutants (e.g., NO2, SO2 and CO) from remote sensing and in situ measurements and their driving effectors, including meteorology and economic indicators. Three representative cities in the Anhui province, such as Hefei (technology-based industry), Tongling (resource-based industry) and Huangshan (tourism-based industry), were studied from 2016 to 2020. After eliminating the influence of meteorological factors, the relationship between air quality indexes and industrial production in the target cities was clearly observed. Taking Hefei, for example, when the normalized output of chemical products increases by one unit, the effect on atmospheric NO2 content increases by about 20%. When the normalized output of chemical product increases by one unit, the effect on atmospheric SO2 content increases by about 10%. When chemical and steel product outputs increase by one unit, the effect on atmospheric CO content increases by 25% and 20%, respectively. These results can help different cities predict local economic development trends varying by the changes in air quality and adjust local industrial structure.

scholarly journals Financial distress and highway infrastructure delays

2017 ◽  
Vol 15 (1) ◽  
pp. 118-132 ◽  
Author(s):  
David John Edwards ◽  
De-Graft Owusu-Manu ◽  
Bernard Baiden ◽  
Edward Badu ◽  
Peter Edward Love
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Financial Distress ◽  
Project Planning ◽  
Related Factors ◽  
Public And Private ◽  
Content Type ◽  
Highway Infrastructure ◽  
Construction Firms ◽  
The Relationship

Purpose In developing countries, delays in highway infrastructure projects caused by financial distress-related factors threaten the construction industry’s capacity to contribute optimally to economic development. Against this backdrop, this paper aims to determine factors contributing to financial distress and develops a conceptual framework to illustrate the relationship between financial distress and project delay. Design/methodology/approach A questionnaire survey collected data on factors that contributed to financial distress and delays in highway infrastructure delivery. In total, 78 responses were obtained, and factor analysis revealed that factors associated with payment, project financing, cash flow, economic issues, project planning and cost control influenced project delays. Findings The research identifies the importance of efficient public and private policies to engender financial sustainability among construction firms in developing countries. Originality/value This work presents the first research of its kind and strives to engender wider academic debate and renewed economic development in some of the world’s most impoverished nations.

scholarly journals Modeling of credit portfolio management efficiency

2021 ◽  
Vol 70 (3) ◽  
pp. 89-101
Author(s):  
N. Ostrovska
Keyword(s):  
Portfolio Management ◽  
Commercial Banks ◽  
Financial Stability ◽  
Banking System ◽  
Estimation Methods ◽  
Loan Portfolio ◽  
Credit Risks ◽  
Economic Entity ◽  
The World ◽  
The Relationship

Credit operations, among the great variety of services provided by the bank, are one of the most important activities. In the assets of commercial banks, loans occupy a strong position of the most extensional and profitable items. The reliability and financial stability of commercial banks depends on the composition and structure of the bank's loan portfolio and the process of its management. Under current conditions, the development and improvement of the bank's loan portfolio management system intended to minimize the credit risks and ensure the sustainable operation of commercial banks have become particularly important. Crisis phenomena in economy have proved that the activities of any economic entity is associated with uncertainty in market development. Adverse developments in the world markets directly affected the solvency of borrowers of many banks. The increase in defaults of most borrowers resulted in the increase in defaults on loans, causing the increase in overdue debt, lower profitability and liquidity problems in banks. Thus, the recent crisis in the world economy, including Ukrainian economy, has demonstrated the failure of the methods used to assess and manage credit risk in banking, as well as the imperfection of the methods used to manage the loan portfolios of commercial banks. The results of the previous carried out investigation indicate that in order to form the correct management decisions and take practical actions concerning the formation of loan portfolio for commercial bank, it is necessary to assess its status. In this regard, the method of econometric modeling (determination of the relationship between gross domestic product and overdue debt of the banking system in Ukraine, the relationship between the volume of loans issued by banks and the discount rate; the relationship between the volume of loans issued to individuals and the volume of the loan portfolio in general) is differentiated in this paper from other estimation methods. This method made it possible to determine the effectiveness of loan portfolio management of commercial banks. The results of the calculations provide reasons to confirm that there is insignificant relationship between the level of loans to individuals and the loan portfolio.

scholarly journals Methodological Aspects of the Financial Stability of Iraq’s Banking System

2020 ◽  
pp. 208-218
Author(s):  
Haider H. Dipheal Shubbar ◽  
Keyword(s):  
Central Bank ◽  
Financial Distress ◽  
Financial Stability ◽  
Banking Sector ◽  
System Development ◽  
Banking System ◽  
Capital Adequacy ◽  
Financial Monitoring ◽  
High Level ◽  
Methodological Aspects

This article discusses the methodology the Central Bank of Iraq developed to assess the financial stability of commercial banks. This topic is relevant because, in modern economic conditions, the Central Bank of Iraq is forced to tighten requirements to credit institutions. Banks use not only their own funds, but also the funds of the population, legal entities, so they must be reliable and stable. Financial stability directly characterises the reliability of banks, so it must be strictly controlled. The Central Bank of Iraq has created its own methodology for assessing the financial stability of the banking sector. Its use should improve the quality of the created banking system development strategies and the financial monitoring of these strategies’ implementation. The Iraqi banking sector has a high level of capital adequacy, which helps to reduce the likelihood of financial distress in it.

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