The impact of financial system development on business cycles volatility: cross-country evidence

2002 ◽  
Vol 24 (2) ◽  
pp. 233-253 ◽  
Author(s):  
Gisele Ferreira da Silva
Keyword(s):  
Business Cycles ◽  
System Development ◽  
Financial System ◽  
Cross Country ◽  
The Impact

scholarly journals Comparative Analyze of the Traditional and Islamic Banking Impacts on Poverty

2021 ◽  
Vol 18 ◽  
pp. 472-484
Author(s):  
Mayis Gulaliyev G. ◽  
Tunzale T., Gurbanova ◽  
Gultekin G. Mammadova ◽  
Nigar S. Tagiyeva ◽  
Yegana S. Alikhanli ◽  
...  
Keyword(s):  
Time Series ◽  
Negative Impact ◽  
System Development ◽  
Financial System ◽  
Poverty Rate ◽  
Islamic Banking ◽  
Weak Effect ◽  
Annual Change ◽  
The Impact ◽  
Adf Test

The paper examines comparatively the impact of the financial system development on the poverty rate in three countries, in Azerbaijan, Turkey, and Iran. The authors have calculated aggregately all four aspects of financial development by developing four new indices. The effects of these indicators on poverty, as well as the effects of the annual change of these indicators on the annual change in the poverty rate, were analyzed by the OLS method. The econometric analysis used to check the stationarity of the time series, the cointegration method, and the ADF test. The main result is that the financial system has a weak effect on poverty in Azerbaijan, where traditional banking is fully implemented, and in Turkey, where Islamic banking is partially implemented. However, in Iran, where only Islamic banking is practiced, the indices of the financial system's efficiency and stability have a strong negative impact on poverty.

scholarly journals Historical institutional determinants of financial system development in Africa

2017 ◽  
Vol 14 (2) ◽  
pp. 345-372 ◽  
Author(s):  
CHUKWUNONYE O. EMENALO ◽  
FRANCESCA GAGLIARDI ◽  
GEOFFREY M. HODGSON
Keyword(s):  
System Development ◽  
Financial System ◽  
Fine Tuning ◽  
Institutional Factors ◽  
Empirical Measures ◽  
Legal Origins ◽  
Institutional Determinants ◽  
Cross Country ◽  
System Access ◽  
Ethnic Fractionalisation

AbstractThe literature on the determinants of cross-country variation in financial system development identifies historical institutional factors, mostly rooted in colonial effects, as key causes. Using a sample of 39 African former European colonies for 2006–11, this paper investigates the extent to which the historical institutional determinants identified by legal origins, disease endowment, religion-based and ethnic fractionalisation theories explain current differences in financial system development across Africa. While most existing research focuses only on one financial system development dimension, namely financial system depth, this article considers also financial system access. The results do not support any of the above theories when depth measures are used, while three of them (legal origins, disease endowment and ethnic fractionalisation theories) are validated when using access measures. This suggests that in Africa financial system depth and access do not have common historical institutional determinants, pointing to the need for greater fine tuning of prevalent theories and empirical measures.

Impact of external currency exposures on macroeconomic policies

2020 ◽  
pp. 23-40
Author(s):  
I. V. Prilepskiy
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Positive Impact ◽  
Exchange Rate Regime ◽  
Macroeconomic Policies ◽  
Panel Regressions ◽  
Financial Account ◽  
Currency Exposure ◽  
Cross Country ◽  
The Impact

Based on cross-country panel regressions, the paper analyzes the impact of external currency exposures on monetary policy, exchange rate regime and capital controls. It is determined that positive net external position (which, e.g., is the case for Russia) is associated with a higher degree of monetary policy autonomy, i.e. the national key interest rate is less responsive to Fed/ECB policy and exchange rate fluctuations. Therefore, the risks of cross-country synchronization of financial cycles are reduced, while central banks are able to place a larger emphasis on their price stability mandates. Significant positive impact of net external currency exposure on exchange rate flexibility and financial account liberalization is only found in the context of static models. This is probably due to the two-way links between incentives for external assets/liabilities accumulation and these macroeconomic policy tools.

Analyzing the impact of financial momentum on the development of the economy

2020 ◽  
Vol 26 (2) ◽  
pp. 299-315
Author(s):  
V.V. Smirnov
Keyword(s):  
Financial Regulation ◽  
Systems Approach ◽  
Financial System ◽  
Modern Economic ◽  
And Performance ◽  
The Interest Rate ◽  
National Economies ◽  
Economic Ties ◽  
The Impact ◽  
Global Financial System

Subject. The article discusses the momentum in finance. Objectives. The study reveals the impact of financial momentum as the unity of antipodes in the development of the national economy. Methods. The study is based on a systems approach and methods of descriptive statistics. Results. I discover the ultimate goal of globalization, i.e. the substantive simplification of national economies and strengthening of global economic ties. The goals determine the logic tendency of national economies for reducing the interest rate so as to gain the financial momentum and, consequently, fanning the crisis risk in the global financial system. The global financial system became the substance of global economic processes, which determined development opportunities of national economies. I reveal what countries have the high and low financial momentum. Conclusions and Relevance. Being the unity of antipodes in the modern economic development, financial momentum causes countries to lose their economic identity, making them just functions of the global financial system. The cyclical development model of national economies is replaced with the metron model that rests on fluctuating advanced economies with the low financial momentum at its bottom and emerging economies at its top. The findings crystallize the concept and new competencies for a person who decide on the determination and performance of financial regulation activities.

The Threats of Ukraine Financial Security: Identification and Systemization

2019 ◽  
pp. 73-80
Author(s):  
Oleksandra Maslii ◽  
Andrii Maksymenko ◽  
Svitlana Onyshchenko
Keyword(s):  
Financial Stability ◽  
System Development ◽  
Financial System ◽  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Monitoring And Control ◽  
Development Indicators ◽  
Security Indicators ◽  
And Control

Place of monitoring and control of risks of financial stability of the state in the system of ensuring financial security of the state was substantiated. Methods of identifying threats to Ukraine's financial security through the current and strategic analysis of financial system development indicators were considered. Tendencies of economic development of Ukraine in the context of revealing sources of threats to financial stability of the state were analyzed. Dynamic analysis of the actual values of the financial security indicators of Ukraine as a whole and its separate components had been carried out. Threats to Ukraine's financial security were identified based on comparative and trend analysis. Reasons for the critical state of debt, banking and monetary security in the financial structure and the preconditions for the emergence of systemic threats had been investigated. Systematization of risks and threats to Ukraine's financial security by its components had been carried out. Influence of systemic threats in the financial sphere on the economic security of the state was generalized. International experience of monitoring financial stability of the state was analyzed. Additional risks to the national financial system are associated with the globalization and digitization of the state financial system that are not taken into account by valid methodological recommendations for calculating the level of economic security of Ukraine were highlighted.

Exogenous Neonatal Erythropoietin Mitigates Brain Damage After a Combination of Prenatal Hypoxic-Ischemia and Lipopolysaccharide Inflammation in Rats

2008 ◽  
Vol 1 (4) ◽  
pp. A353
Author(s):  
Shenandoah Robinson ◽  
Qing Li
Keyword(s):  
Brain Damage ◽  
Intracellular Signaling ◽  
System Development ◽  
Intrauterine Infection ◽  
Artery Occlusion ◽  
Nervous System Development ◽  
Human Infants ◽  
Hypoxic Ischemia ◽  
Show Evidence ◽  
The Impact

Introduction Many infants born very preterm who suffer brain damage most likely experienced a combined insult from intrauterine infection and placental insufficiency. Damage is thought to be synergistic rather than additive but the mechanisms of combined injury remain elusive. A combination of lipopolysaccharide-induced inflammation and hypoxia-ischemia has been used in rats to model the dual insult that occurs in human infants prenatally. Erythropoietin, a pleiotrophic cytokine that is essential for central nervous system development, ameliorates brain injury after isolated hypoxic-ischemic or inflammatory insults through different intracellular signaling pathways. We hypothesized that exogenous neonatal EPO administration would lessen the damage of a combined prenatal insult in rats. Methods On embryonic Day 18 fetal rats experienced 60 minutes of transient uterine artery occlusion with or without intracervical LPS administration with sham controls receiving surgery but no occlusion and saline for LPS. Survival was recorded and histological biochemical and functional assays were performed. Means were compared with ANOVA with Tukey HSD post hoc analysis. Results After a combined insult of HI and 0.15-mg/kg LPS on E18 the survival of pups by postnatal Day 1 (P1) decreased from 77% with HI alone to 22% for LPS plus HI. When exogenous systemic EPO was administered P1–P3 survival to P9 improved markedly from 40% (2 of 5) for saline-treated insult pups to 100% (6 of 6) for EPO-treated. Initial histological analyses show EPO decreases the number of brain activated caspase 3 and activated microglia by P9. Additional analyses will be presented. Conclusion As at least 60% of placentas from infants born pre-term show evidence of chorioamnionitis, assessment of the impact of exogenous EPO on a model of a combination injury is essential prior to proceeding with a clinical trial. Initial results indicate neonatal exogenous EPO mitigates damage from the combined insult.

Influence of internal and external risks on sustainability of financial system of Аltai krai

2018 ◽  
Vol 35 (4) ◽  
pp. 133-136
Author(s):  
R. N. Ibragimov
Keyword(s):  
Sustainable Development ◽  
Financial Stability ◽  
Management Strategy ◽  
Financial System ◽  
Risk Management Strategy ◽  
The Sustainable Development ◽  
The Stability ◽  
The Impact

The article examines the impact of internal and external risks on the stability of the financial system of the Altai Territory. Classification of internal and external risks of decline, affecting the sustainable development of the financial system, is presented. A risk management strategy is proposed that will allow monitoring of risks, thereby these measures will help reduce the loss of financial stability and ensure the long-term development of the economy of the region.

Sign in / Sign up

Export Citation Format

Share Document