scholarly journals Western European housing systems and the impact of the international financial crisis

2011 ◽  
Vol 26 (3) ◽  
pp. 295-313 ◽  
Author(s):  
Harry van der Heijden ◽  
Kees Dol ◽  
Michael Oxley
Keyword(s):  
Financial Crisis ◽  
Housing Systems ◽  
International Financial Crisis ◽  
Western European ◽  
The Impact

Privatisation, Myopia and the Long-Run Provision of Economic Infrastructure in Australia

2008 ◽  
Vol 19 (1) ◽  
pp. 57-72 ◽  
Author(s):  
Michael Johnson
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Short Term ◽  
Public Economic ◽  
International Financial Crisis ◽  
Long Run ◽  
Infrastructure Provision ◽  
Economic Infrastructure ◽  
The Impact

The privatisation of economic infrastructure in Australia that began in the 1980s has continued to be actively pursued by state and federal governments. Evaluations of the effects of the change of policy, ownership, control and regulatory arrangements that have accompanied privatisation and their impact on the longer-term stock of infrastructure and the growth of the economy have received less attention than the immediate privatisation decisions. This article reviews some of the studies that have been carried out to evaluate the impact of privatisation, focusing on long-term impacts on infrastructure provision. In particular, it discusses the myopia created by the emphasis on commercial transactions and managing markets that continues to shape the debate about the provision of infrastructure to meet Australia's economic, environmental and other objectives. Objectives have become even more difficult to achieve as an increasingly extensive and complex regulatory framework is required to manage privatised activities. This adds to costs and limits the potential for the introduction of new initiatives to address pressing problems. The issue is increasingly relevant, given the current perceived shortage of infrastructure and the flow-on effects of the current international financial crisis on Australia. The slow-down in economic growth accompanying the financial crisis is putting pressure on government budgets and threatening to perpetuate the existing policy bias towards short-term solutions, exacerbating the longer run problem of ensuring an adequate supply of public economic infrastructure.

scholarly journals FDI and the Subprime Crisis: An Analysis for Asian and Latin American Countries

2017 ◽  
Vol 10 (11) ◽  
pp. 206 ◽  
Author(s):  
Priscila G. Castro ◽  
Antônio C. Campos
Keyword(s):  
Financial Crisis ◽  
Latin American ◽  
World Economy ◽  
Negative Impact ◽  
Global Scale ◽  
Subprime Crisis ◽  
Dynamic Panel ◽  
International Financial Crisis ◽  
The Impact ◽  
Latin American Countries

In recent decades, the inflows and stocks of foreign direct investment (FDI) have been heading increasingly towards developing countries intensifying the dynamics of international business. However, in 2008 the international financial crisis hit the world economy, decreasing FDI levels on a global scale. In this context, the purpose of this study is to evaluate the impact of the international financial crisis on FDI in Asian and Latin American countries, and to accomplish that, an analytical model was estimated by using dynamic panel procedures. Among the results, it was observed that the 2008 crisis had a negative impact on the multinational companies affecting the FDI stocks in the countries under consideration. However, the impact on the two regions differed, as the reduction in FDI stocks in Asia was greater than that in Latin American countries. In addition, the extension of the crisis, after 2008, was favorable to the growth of FDI in both regions.

Exchange rate volatility and exports: a panel data analysis

2016 ◽  
Vol 43 (2) ◽  
pp. 203-221 ◽  
Author(s):  
Flavio Vilela Vieira ◽  
Ronald MacDonald
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Emerging Economies ◽  
Exchange Rate Volatility ◽  
Content Type ◽  
International Financial Crisis ◽  
Export Volume ◽  
Oil Export ◽  
Financial Crisis Of 2008 ◽  
The Impact

Purpose – The purpose of this paper is to empirically investigate the role of real effective exchange rate (REER) volatility on export volume and also to address the impact of the international financial crisis of 2008. Design/methodology/approach – The empirical methodology is based on System GMM estimation for a set of 106 countries for the period of 2000-2011. Findings – For the complete sample of countries and for a set of developing/emerging economies, there is evidence that an increase (decrease) in REER volatility reduces (increases) export volume. The results are not robust once the oil export countries are removed from the sample. The estimated coefficients for the financial crisis dummy are positive and statistically significant, indicating that export volume were 0.14 percent higher after the financial crisis of 2008 compared to the previous period (2000-2007). There is also evidence that the export volume is price (REER) and income (trade weighted) inelastic. Research limitations/implications – The empirical results are valid for the complete set of countries and for developing and emerging economies when including the oil export countries, suggesting that countries should reduce exchange rate volatility in order to foster their export volume and that oil export countries have an important role on these results. Practical implications – The paper suggests that policymakers should adopt different policies to minimize exchange rate volatility if they seek to increase export volume. The international financial crisis had a significant impact on export volume in all estimated models regardless of the set of countries used. Originality/value – One of the main novelties of this work is that it deals with possible endogeneity using GMM estimators and addresses the issue of instrument proliferation, which is not a common feature of previous empirical studies on exchange rate volatility and trade flows. Another original aspect of the research is the construction of trade weighted variables for foreign income and REER based on the major 20 export partners for each country used in the panel data estimation. The work also incorporates the years following the international financial crisis of 2008, which is an additional empirical novelty, in order to address the impact of the international financial crisis on the export volume.

Research on the Development of China’s Social Tourism

2014 ◽  
Vol 926-930 ◽  
pp. 3910-3913
Author(s):  
Hui Yuan Mao ◽  
Xin Liu
Keyword(s):  
Financial Crisis ◽  
Social Welfare ◽  
Research Paper ◽  
Western Countries ◽  
The Past ◽  
International Financial Crisis ◽  
The Impact

With the impact of international financial crisis, China Tourism Bureau put forwards the National Travel and Leisure Programme for drawing the inner demand. Social tourism, served as one of the four tourism items in the programme, is similar to social welfare travel, which was studied and advocated in western countries during the past 50 years. They are comparable and connected in some aspects. This research paper analyzes the background of social tourism and sorts out the domestic theories on it. Then it proposes the countermeasures towards the development of social tourism in China.

Economic crisis and the image of Portugal as a tourist destination: the restaurants’ perspective

2014 ◽  
Vol 6 (5) ◽  
pp. 480-484 ◽  
Author(s):  
José Manuel Esteves
Keyword(s):  
Financial Crisis ◽  
Tourism Industry ◽  
Tax Burden ◽  
Content Type ◽  
International Financial Crisis ◽  
Food And Beverage ◽  
Two Factors ◽  
Portuguese Economy ◽  
The Portuguese Economy ◽  
The Impact

Purpose – The purpose of this paper is to demonstrate the effects of the international financial crisis on the food and beverage sector in Portugal, and the impact of a steep increase in the tax burden on this sector’s activity, together with the wider effects on the economy, enterprises and tourism in Portugal. Design/methodology/approach – The paper uses information drawn from official national information sources, together with other empirical data. Findings – The international financial crisis has caused severe damage to the food and beverage sector in Portugal. Since 2008, it has recorded successive reductions in key indicators: number of enterprises, employed persons and turnover. Besides this effect, the sharp rise in the tax burden has caused serious damage to the sector, leading to the closure of thousands of businesses, and the loss of thousands of jobs. The conjugation of these two factors, the economic and financial crisis and the increase in taxes caused serious disruption in the operation of businesses and the market as a whole. Practical implications – It is hoped that this analysis (among others) will lead to a reduction in the tax burden on the food and beverage sector of the tourism industry. It is argued that this is an impediment to progress. Originality/value – This article concludes that the current tax burden is undermining one of the main sectors of the Portuguese economy, which is vital to the country’s recovery. If it remains, there will be serious consequences for the image of Portugal, in terms of its tourism offer, its gastronomy and the excellence of service that is provided.

Global Financial Crisis and Banking Sector Efficiency: The Indian Perspective

2014 ◽  
Vol 1 (1) ◽  
pp. 90-109
Author(s):  
Seema Garg
Keyword(s):  
Data Envelopment Analysis ◽  
Financial Crisis ◽  
Commercial Banks ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Data Envelopment ◽  
Crisis Period ◽  
International Financial Crisis ◽  
Indian Banks ◽  
The Impact

Banks play a crucial role in developing and least developed economies by facilitating in trade finance. Banks established an important linkage in international trade by guaranteeing international payments and thereby reducing the risk of trade transactions. The Banks in India has witnessed a significant growth, specialization and diversification since the initiation of financial sector reforms in 1991and further slowdown in the economy as a result of global financial crisis in 2008-2009. This study examines the performance of Indian banks using data envelopment analysis. Though, there are large number of literature have been published on banking efficiency, This is an attempt to investigate the impact of global financial crisis on performance of Indian banking sector. The sole objective of this study is to exhibit, utilizing empirical data, the quantum to which the global financial crisis had an impact on the performance of the Indian banking industry. This study gives a comparative empirical analysis of the technical efficiency of Indian commercial banks during pre and post crisis period covering 2005-2012 using non parametric technique i.e. Data Envelopment Analysis (DEA). This period is consisting of pre and post global crisis period which is characterized by far reaching experience of crisis period (2008-2009) and its impact on the efficiency of the Indian banking sector. Overall, the results reveal that the effect of international financial crisis on the Indian banks has not been significant. Instead, the analysis reveals there is a statistically insignificant improvement in the efficiency of Indian banks’ following international financial crisis. Furthermore, the paper shows that the commercial banks have a high degree of resilience and stability.

The IDB Group in the Central American Isthmus and the Dominican Republic: Activities Report 2020

2021 ◽  
Author(s):  
◽  
◽  
Keyword(s):  
Financial Crisis ◽  
Dominican Republic ◽  
Central America ◽  
Debt Crisis ◽  
Central American ◽  
Historical Records ◽  
Country Level ◽  
International Financial Crisis ◽  
The Impact ◽  
Central American Isthmus

2020 was an unprecedented year for Central America and the Dominican Republic. The effect of the global COVID-19 pandemic, exacerbated by the impact of Hurricanes Eta and Iota in some countries, caused the greatest economic contraction the region has undergone in its recent history - surpassing the debt crisis of the 1980s and the international financial crisis of 2009. In 2020, the IDB Group helped the countries in the region respond to these emergencies through approvals that exceeded US$ 4,900 million and disbursements of more than US$ 4,327 million, both reaching historical records. This report highlights the Groups main activities in Central America and the Dominican Republic in 2020 at the regional and country level.

The Determinants of Merger Withdrawals’ Abnormal Returns in The Australian Market

2015 ◽  
pp. 89-110 ◽  
Author(s):  
Thuy Nguyen Thu ◽  
Giang Dao Thi Thu ◽  
Hoang Truong Huy
Keyword(s):  
Financial Crisis ◽  
Event Study ◽  
Abnormal Returns ◽  
Market Response ◽  
Crisis Period ◽  
Valuation Effects ◽  
Event Study Method ◽  
Private And Public ◽  
Method Of Payment ◽  
The Impact

This paper examines the abnormal returns in merger withdrawals in Australia, especially distinguishing the market response between private and public targets. We also study the determinants of those abnormal returns, including the method of payment and the impact of financial crisis periods. Using the event study method, we document that in the Australian context, the announced withdrawal of mergers involving private targets creates significantly negative valuation effects in comparison with the valuation effects in withdrawal of mergers involving public targets. We also find that a financial crisis period strongly affects abnormal returns of merger withdrawals. However, the method of payment does not have any impact on the abnormal returns.

Sign in / Sign up

Export Citation Format

Share Document