Crowding-out or crowding-in: The impact of Chinese tourists on selected tourist segments in Vietnam destinations

2021 ◽  
Vol 22 ◽  
pp. 100655
Author(s):  
Linh H. Le ◽  
Jorge Ridderstaat
Keyword(s):  
Crowding Out ◽  
Chinese Tourists ◽  
The Impact

‘The Impact of Culture on Tourists' Online Information Search Behaviour

2016 ◽  
pp. 1-22 ◽  
Author(s):  
Eleni Michopoulou ◽  
Delia Gabriela Moisa
Keyword(s):  
Information Search ◽  
Qualitative Approach ◽  
Online Information ◽  
Online Search ◽  
Search Behaviour ◽  
Behavioural Patterns ◽  
Chinese Tourists ◽  
The Subject ◽  
The Impact ◽  
Chinese Travellers

This chapter looks into the concept of culture and its impacts on travellers' online information search behaviour. The study is focused on two culturally diametric countries: United Kingdom and China (Hofstede, 2001) and they have been selected as case studies, representing values from the Western and the Asian cultures. In order to examine the effects of culture on online search behaviours, the research adopted a qualitative approach, and data was collected through interviews in order to enhance and elaborate the understanding on the subject studied. The results of this study show that culture influences the travellers' behaviour in the online environment, up to a certain extent, and as a result of this influences, different behavioural patterns between the British and the Chinese travellers emerged. Moreover, these findings bring implications for the marketers aiming at the British and the Chinese tourists, and they highlight the need to adopt different strategies in designing and marketing their tourism products for these two particular markets.

Effect of R&D subsidies and tax credits on the innovative processes of Chilean firms

2020 ◽  
Vol 33 (3/4) ◽  
pp. 517-534
Author(s):  
Cristian Mardones ◽  
Florencia Ávila
Keyword(s):  
Instrumental Variables ◽  
Design Methodology ◽  
Tax Credits ◽  
Lower Percentage ◽  
Crowding Out ◽  
Content Type ◽  
Pseudo Panel ◽  
Using Data ◽  
The Impact ◽  
Positive Effect

PurposeThe purpose of this study is to evaluate the impact of research and development (R&D) subsidies and tax credits on the innovative processes of Chilean firms.Design/methodology/approachProbit and tobit models for pseudo-panel with instrumental variables are estimated using data from different versions of the Innovation Survey covering the period 2007–2016.FindingsThe results show that R&D subsidies and tax credits have a statistically significant and positive effect on the probability of performing internal and external R&D, but do not affect the intensity of R&D spending, reflecting a crowding-out effect on private funds of both instruments. On the other hand, firms that simultaneously receive R&D subsidies and tax credits have a lower percentage of innovative sales. Furthermore, there are not effects statistically significant of the R&D subsidies and/or tax credits on the number of intellectual property rights applications.Originality/valueIt is concluded that both instruments have not been effective to encourage innovative outputs in Chilean firms.

Bank capital and liquidity creation: evidence of relation from India

2017 ◽  
Vol 11 (2) ◽  
pp. 152-166 ◽  
Author(s):  
Muhammad Umar ◽  
Gang Sun ◽  
Muhammad Ansar Majeed
Keyword(s):  
Balance Sheet ◽  
Capital Requirements ◽  
Financial Fragility ◽  
Crowding Out ◽  
Bank Capital ◽  
Content Type ◽  
Crisis Period ◽  
Balance Sheet Liquidity ◽  
Indian Banks ◽  
The Impact

Purpose This study analyzes the impact of changes in bank capital on liquidity creation. More specifically, it tests “financial fragility – crowding out” and “risk absorption” hypotheses for Indian banks. Design/methodology/approach It uses the data of 136 listed and unlisted banks, ranging from the year 2000 to 2014. The analysis is based on panel data techniques. Findings There is negative relationship between narrow measure of bank liquidity creation and capital. Therefore, in the case of India, “financial fragility – crowding out” hypothesis holds for “cat nonfat” measure of liquidity creation. However, there is no relationship between “cat fat” measure of liquidity creation and capital, except for listed banks, and the banks in the pre-crisis period. In these two cases, “risk absorption” hypothesis holds. Furthermore, none of the hypotheses holds in the post-crisis period. Practical implications The higher capital requirements posed by the Basel III will result in lower on-balance-sheet liquidity creation, which may result in lower profitability for the banks. However, increase in capital does not affect off-balance-sheet liquidity creation, rather enhances it in case of listed banks. So, the managers may use risky off-balance-sheet liquidity creation to improve profitability. Therefore, the regulators must be vigilant to the off-balance-sheet activities of banks to avoid banking turmoil. Originality/value To the best of authors’ knowledge, this is the first study to explore which hypothesis regarding the relationship between bank capital and liquidity creation holds for Indian banks. It contributes to the existing literature by providing the empirical evidence that “financial fragility – crowding out” hypothesis holds for on-balance-sheet liquidity creation and “risk absorption” hypothesis holds for listed banks. It also points to the new direction that neither of the hypotheses holds in the post-crisis period in India.

scholarly journals The Impact of Government Debt Issuance on Short-Term interest rates in Indonesia

2009 ◽  
Vol 11 (3) ◽  
pp. 301
Author(s):  
Sri Adiningsih
Keyword(s):  
Fiscal Policy ◽  
Private Sector ◽  
Financial Markets ◽  
Interest Rates ◽  
Budget Deficit ◽  
Negative Impact ◽  
Government Debt ◽  
Crowding Out ◽  
Short Term ◽  
The Impact

This paper analyzes whether the expansionary fiscal policy funded by issuing debt instruments in financial markets will increase short-term interest rates. If  the expansionary fiscal policy increases interest rates, which decrease private spending especially investment, crowding out occurs. This is interesting because global economic crisis has encouraged many countries to run large budget deficits to stimulate the economy. Indonesia has also run budget deficit during this crisis and even in years before. The impact of such a policy can be significant because Indonesia’s debt market is still narrow and shallow. Therefore, its capability of absorbing the government debt instruments without influencing the private sector funding is limited. This study tests whether the crowding out occurs in Indonesia using a time series econometric model inspired by Cebula and Cuellar’s model. The Cointegration Regression and Error Correction Model (ECM) are used in this study. Monthly data from April 2000 to December 2008 are used for overnight real interbank call money interest rates, real net government bond issues in trading, real narrow money supply, real rate of one-month Certificate of Bank Indonesia, growth of Gross Domestic Product, and real net international capital flows. This empirical study shows that the crowding out problem occurred in Indonesia during the period. This indicates that financing budget deficit in Indonesia by issuing debt instruments in the financial markets has a negative impact on the private sector.

scholarly journals An empirical analysis of the influence of financialization on investment in Russia

2021 ◽  
Vol 7 (3) ◽  
pp. 233-249
Author(s):  
Dmitry S. Tretyakov ◽  
Ivan V. Rozmainsky
Keyword(s):  
Panel Data ◽  
Empirical Analysis ◽  
Small Firms ◽  
Crowding Out ◽  
External Financing ◽  
Fixed Assets ◽  
Financial Investments ◽  
Internal Funds ◽  
The Impact ◽  
Physical Investment

This paper tries to estimate the impact of financialization on fixed investment in Russia. The work is carried out by using panel data based on reports of non-financial publicly listed companies for 1999–2019. The study finds that financial expenses aimed at paying interest on external financing and paying dividends — that is, focusing on shareholder value, and hence decreasing the internal funds of companies, reduce real investments. Financial incomes have shown the crowding-out effect for large companies. Financial incomes as additional “free” funds in large companies are not perceived as an opportunity to accumulate fixed assets. Managers prefer to increase ­financial investments instead of real ones. In small and medium-sized companies, financial incomes, however, drive the growth of physical investment. This is because small firms, at a particular stage in their lives, find it more profitable to invest in their own growth. The results from the general sample, without dividing by size, indicate that financialization in Russia clearly reduces real investment.

scholarly journals Fiscal Consolidation and Macroeconomic Variables in India: A Cointegration Analysis

2018 ◽  
Vol 4 (02) ◽  
Author(s):  
Chittaranjan Nayak ◽  
Manaswini Panda
Keyword(s):  
Time Series ◽  
Time Series Data ◽  
Empirical Support ◽  
Private Investment ◽  
Cointegration Analysis ◽  
Series Data ◽  
Crowding Out ◽  
Fiscal Deficit ◽  
Fiscal Consolidation ◽  
The Impact

Fiscal consolidation is in the forefront of policy discussion in India since 1990s. But the debate on fiscal consolidation and its real effects has been unable to attain any culmination so far on analytical as well as empirical grounds. The present paper tries to examine the impact of fiscal consolidation on growth, inflation, private investment, and exchange rate in India by analysing a time series data for the period from 1980-81 to 2013-14. The paper observes that there exists a long run relationship between GDP, fiscal consolidation, inflation and private investment. Fiscal deficit reduces GDP significantly. This finding gives empirical support to the neoclassical school of thought. However, the paper does not find any significant crowding-out evidence in India. The conclusion as such is sensitive to lag selection, and inclusion of variables. Although necessary diagnostic checking has been done, a robust analysis warrants a longer time series. The question remains inconclusive that if fiscal deficit does not cause significant crowding-out of private investment, then what are the channels of its negative influence on GDP.

Sign in / Sign up

Export Citation Format

Share Document