A disequilibrium evaluation of public intervention in agricultural credit markets

2017 ◽  
Vol 77 (1) ◽  
pp. 37-49 ◽  
Author(s):  
Todd Hubbs ◽  
Todd Kuethe
Keyword(s):  
Credit Markets ◽  
Supply And Demand ◽  
Excess Demand ◽  
Agricultural Producers ◽  
Public Intervention ◽  
Linear Solution ◽  
Content Type ◽  
Excess Supply ◽  
Solution Algorithms ◽  
Private Credit

Purpose Agricultural producers rely on debt capital to support many functions of their enterprise, yet private credit markets are frequently characterized by an imbalance between supply and demand. As a result, a number of public lending programs exist to mitigate the perceived market failures of private credit markets that serve agricultural producers. The paper aims to discuss these issues. Design/methodology/approach This study uses a structural disequilibrium model to examine the potential for excess demand or supply in the private market for non-real estate farm loans between 1978 and 2014. Findings The model demonstrates that the market is frequently characterized by disequilibrium, fluctuating between periods of excess demand and excess supply. These disequilibrium periods motivate the discussion of public intervention as a policy proposal within the agricultural sector. Originality/value This study uses traditional disequilibrium modeling to evaluate the private credit market for agriculture lending in a manner that has not been attempted previously in the literature. The model uses maximum likelihood methods with non-linear solution algorithms to investigate excess supply and demand in the sector.

Future of Commodity Markets and Investments

2018 ◽  
Author(s):  
Hunter M. Holzhauer
Keyword(s):  
Supply And Demand ◽  
Commodity Markets ◽  
Investment Banks ◽  
Algorithmic Trading ◽  
Excess Supply ◽  
The Future ◽  
Change Concerns ◽  
Global Population ◽  
Regulatory Trends

This chapter begins with a breakdown of recent growth trends for the overall commodities market. However, the long-term future of the market will heavily depend on three pressing issues: excess supply, increased regulations, and algorithmic trading. The section on excess supply explores how traders are changing strategies to adjust to the current imbalance between supply and demand, especially in the steel industry, and how that imbalance might change in the future based on global population trends and climate change concerns. The next section examines several regulatory trends, including the dramatic exodus of some investment banks from certain segments of the commodities market followed by a section focusing on how algorithmic trading is influencing how commodities are traded. A discussion of potential scenarios for the commodities market follows. The chapter concludes by examining a few ways in which the market and commodity traders may both survive and even thrive in the future.

scholarly journals SME credit constraints and access to informal credit markets in Vietnam

2020 ◽  
Vol 47 (6) ◽  
pp. 787-807 ◽  
Author(s):  
Lan Archer ◽  
Parmendra Sharma ◽  
Jen-Je Su
Keyword(s):  
Peer Review ◽  
Credit Markets ◽  
Credit Constraints ◽  
Policy Implications ◽  
Informal Credit ◽  
Banking Services ◽  
Content Type ◽  
Credit Access ◽  
Access Policy ◽  
Correlated Random Effects

PurposeA review of literature has documented that accessing formal credit and other banking services has always been a crucial challenge for small and medium-sized enterprises (SMEs). The alternative, therefore, tends to be informal channels. However, the credit constraint vis-à-vis informal channel link does not appear to be well documented in the literature. This study aims to investigate whether credit constraints significantly affect the probability of accessing informal credit, as well as the credit values of Vietnamese SMEs.Design/methodology/approachThis study uses a trinary approach and correlated random-effects Probit and Tobit techniques to avoid the incidental coefficients problem.FindingsThe results suggest that relative to unconstrained and partially constrained firms, fully constrained firms tend to be more active in the informal credit markets, shown by their higher probability of informal credit access and larger credit values.Originality/valueTo the best of authors’ knowledge, this is the first study on Vietnam that takes a different approach to credit constraints and examines their impact on informal credit access. Policy implications arise and are discussed.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2017-0543

Measuring the service gaps in the roles of quantity surveyors in the emerging market

2016 ◽  
Vol 23 (5) ◽  
pp. 1111-1131 ◽  
Author(s):  
AbdulLateef Olanrewaju
Keyword(s):  
Emerging Markets ◽  
Construction Industry ◽  
Design Methodology ◽  
Emerging Market ◽  
Supply And Demand ◽  
The Other ◽  
Primary Data ◽  
Content Type ◽  
Practical Implications ◽  
Survey Questionnaires

Purpose – The opportunities that the emerging markets present to the players in the construction industry means that the players need to expand on the scope and size of their responsibilities and duties to the stakeholders. Each of the professionals now demands more specialised and sophisticated services from one another. The other players in the construction industry now require more emerging responsibilities and duties from the quantity surveyors. The purpose of this paper is to examine the roles that “modern” quantity surveyors play by measuring the gaps that exist in the services that the quantity surveyors provide. Design/methodology/approach – Primary data are collected through survey questionnaires. In total, 23 roles played by modern quantity surveyors are identified and addressed to the respondents to rank the rate at which quantity surveyors provide these “emerging” services. The collected data were analysed statistically. Findings – The results of the findings led to the conclusion that the quantity surveyors were not meeting the expectations of other players. Therefore, for competitiveness, quantity surveyors need to better meet demand expectations. Research limitations/implications – This findings of this research are constrained to the services or functions that the quantity provide in the construction industry. Practical implications – This knowledge is valuable to academic institutions that offer quantity surveying programmes, to practicing quantity surveyors, governments, and other players in the construction industry. It will allow quantity surveyors to reconcile supply and demand expectations. Originality/value – There is no known conclusive empirical study on services offered by quantity surveyors in any emerging markets. Therefore, the findings offer a fresh understanding on the services of quantity surveyors not only in Nigeria but elsewhere. While some of the services are common, others are peculiar to emerging markets.

Fault accommodation in bilinear systems – a logic-dynamic approach

2014 ◽  
Vol 31 (2) ◽  
pp. 129-143
Author(s):  
Alexey Zhirabok ◽  
Alexey Shumsky ◽  
Yevgeny Bobko
Keyword(s):  
Linear System ◽  
Dynamic Systems ◽  
Design Methodology ◽  
Bilinear System ◽  
Control Law ◽  
Dynamic Approach ◽  
Linear Solution ◽  
Content Type ◽  
Fault Accommodation ◽  
Practical Implications

Purpose – The purpose of this study is to investigate the problem of fault accommodation in bilinear dynamic systems. Design/methodology/approach – Solution to this problem is related to constructing the control law which provides full decoupling with respect to the fault effects. The so-called logic-dynamic approach will be used to solve this problem. The main steps of this approach are: replacing the initial bilinear system by certain linear one, solving the problem under consideration for this linear system by well-known linear methods with some restrictions, taking into account the bilinear term to correct the obtained linear solution. Findings – Existing conditions of the fault accommodation problem in a form of rank equalities and inequalities are formulated. Calculating relations for the control law and the auxiliary systems are given. Practical implications – The suggested method allows determining such a control law that preserves the main performances of the system in the faulty case, while the minor performances may degrade. Originality/value – The main advantage of the logic-dynamic approach is a possibility to solve the problem of fault accommodation for nonlinear systems by linear methods without decreasing the main properties of the obtained solution.

Computational contact mechanics analysis of laterally graded orthotropic half-planes

2017 ◽  
Vol 14 (2) ◽  
pp. 145-154 ◽  
Author(s):  
Onur Arslan
Keyword(s):  
Contact Mechanics ◽  
Solution Method ◽  
Solution Procedure ◽  
Engineering Applications ◽  
Linear Solution ◽  
Content Type ◽  
Analytical Technique ◽  
Computational Contact Mechanics ◽  
Mechanics Analysis ◽  
Contact Response

Purpose Frictional sliding contact problems between laterally graded orthotropic half-planes and a flat rigid stamp are investigated. The presented study aims at guiding engineering applications in the prediction of the contact response of orthotropic laterally graded members. Design/methodology/approach The solution procedure is based on a finite element (FE) approach which is conducted with an efficient FE analysis software ANSYS. The spatial gradations of the orthotropic stiffness constants through the horizontal axis are enabled utilizing the homogeneous FE approach. The Augmented Lagrangian contact algorithm is used as an iterative non-linear solution method in the contact analysis. Findings The accuracy of the proposed FE solution method is approved by using the comparisons of the results with those computed using an analytical technique. The prominent results indicate that the surface contact stresses can be mitigated upon increasing the degree of orthotropy and positive lateral gradations. Originality/value One can infer from the literature survey that, the contact mechanics analysis of orthotropic laterally graded materials has not been investigated so far. In this study, an FE method-based computational solution procedure for the aforementioned problem is addressed. The presented study aims at guiding engineering applications in the prediction of the contact response of orthotropic laterally graded members. Additionally, this study provides some useful points related to computational contact mechanics analysis of orthotropic structures.

Two decades of evolution in tourism competitiveness: a co-word analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amanda de Paula Aguiar-Barbosa ◽  
Adriana Fumi Chim-Miki ◽  
Metin Kozak
Keyword(s):  
Supply And Demand ◽  
Tourism Industry ◽  
Social Aspect ◽  
Exploratory Research ◽  
Content Type ◽  
Consensus Analysis ◽  
The Social ◽  
New Models ◽  
Social Side ◽  
Integrative Concept

PurposeThe objective of this study was to analyze the evolution of tourism competitiveness over the years, ascertaining the state of the art and the degree of consensus among scholars on its constituent elements to propose an integrative and updated concept.Design/methodology/approachA set of 130 definitions on tourism competitiveness formulated between 1999–2018 was analyzed and segmented into three periods, allowing its historical evolution to be ascertained. It is a qualitative and quantitative exploratory research that uses a combination of techniques, namely, content analysis, analysis of co-words and consensus analysis.FindingsThe results indicated a low use of elements such as the quality of life and the environment in the authors' definitions during 1999–2018, although these elements were present in the first concept of tourism competitiveness by Crouch and Ritchie (1999, 2003). Another finding of this study shows a reduction in the analysis of tourism competitiveness based on the supply and demand side. Nowadays, the research tends to turn on the basis of the population directly affected. It also reveals the enrichment of the theoretical corpus with new lines of research arising and new groups of scholars of the subject, consequently a new frontier in tourism competitiveness.Research limitations/implicationsThe authors recommend deepening the analysis in each category of conceptual elements of tourism competitiveness to identify the origins of the low consensus. The authors also suggest conducting further research on the largest invisible schools of thought on this subject to understand their relations and perspectives, and thus to advance in the theoretical streams of the field. Finally, it is imperative to develop research on new models and monitors of tourism competitiveness that meet its renewed concept and integrate dimensions to consider the perspective of supply, demand, tourists and residents, as well as not excluding the economic bias but including the social side.Practical implicationsOwing to the fact that monitors of tourism competitiveness have practically no variables related to the social, most of the surveys are carried out from the supply or demand perspective, leaving the resident distant from the process. In this way, the results allow authors to indicate that new models of competitiveness measurement should be formulated based on the vision of the community impacted by tourism, i.e. a new version of tourism competitiveness not based on productivity but rather on the social aspect.Originality/valueThe findings of this study contribute to the field literature by offering an integrative concept of tourism competitiveness based on the elements with a higher level of consensus among researchers. Furthermore, the results accentuate a worrying fact regarding the operationalization of this concept, as the theoretical basis is not expressed in the monitors of competitiveness. Thus, nor it is possible in the management of the tourism industry.

Designing an accommodation strategy: findings from an architecture school

Facilities ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chaiwat Riratanaphong
Keyword(s):  
Real Estate ◽  
Development Process ◽  
Supply And Demand ◽  
Development Theory ◽  
Architecture Education ◽  
Data Accessibility ◽  
Content Type ◽  
The Real Estate ◽  
Process Factors ◽  
Space Requirements

Purpose This study aims to explore the need for space (demand) and the provision thereof (supply) in the Faculty of Architecture building at Thammasat University Rangsit campus using variables from the designing an accommodation strategy (DAS) framework; these variables are incorporated to test and improve the framework. Another purpose is to examine the planning and development of the faculty building to understand its strategy, which serves as a means to contribute to the planning and development theory. Design/methodology/approach A case study of the Faculty of Architecture building was conducted at Thammasat University in Thailand. The DAS framework was used to reconstruct and examine the development process of the building to determine the gaps between supply and demand in terms of building space, to reflect on the building plan and process and to make suggestions as to how the DAS framework might be improved. Research methods included interviews and document analysis concerning space requirements and provision in the Faculty of Architecture building. Findings The gaps between supply and demand in terms of the faculty building space are affected by the condition of the building (i.e. building obsolescence), the number of building users and the changing environmental context. This study shows that both pre-design and post-occupancy evaluation are essential to collect data concerning the match or mismatch between supply and demand of space and to assess users’ needs and preferences concerning the faculty building. Regarding the building development process, factors impacting the step-by-step planning of the real estate interventions include the organisational context (public/private sector) and the management of the construction project (time, cost, quality). The DAS framework is found to be useful for structuring the information-generating processes necessary to determine gaps between demand and supply in terms of space and for making decisions regarding real estate interventions. Research limitations/implications Additional case studies in different environmental and organisational contexts are required to test the DAS framework and improve data validity. This study was conducted during the COVID-19 pandemic period, which affected data accessibility. Practical implications The results provide insight into the influence of various factors on the decision of corporate real estate. The DAS framework can be used to explore the range of demand for and supply of space and to find an optimal match. Originality/value This paper shows valuable steps in planning and development of educational real estate and a first application of the DAS framework in Thailand. The findings confirm the importance of the physical learning environment of architecture schools, particularly the studio spaces required in architecture education.

Growth prospects, market challenges and policy measures: evolution of mobile broadband in Pakistan

2018 ◽  
Vol 20 (1) ◽  
pp. 42-61 ◽  
Author(s):  
Muhammad Shehzad Hanif ◽  
Shao Yunfei ◽  
Muhammad Imran Hanif
Keyword(s):  
Developing Country ◽  
Service Providers ◽  
Supply And Demand ◽  
Economic Benefits ◽  
Content Type ◽  
Mobile Broadband ◽  
Broadband Service ◽  
Policy Measures ◽  
The Government

Purpose The paper aims to explore the long-term prospects of mobile broadband adoption in a developing country. The supply-side and demand-side policy measures are recommended to counter the challenges to broadband adoption. Design/methodology/approach Methodologically, this study uses document analysis to explain secondary data including growth statistics, trade literature and previous scholarly research. Based on the growth statistics of broadband and the informed market insights, the research discusses the prevailing market threats and recommends counter measures to improve the long-term prospects of broadband propagation. Findings The growth of mobile broadband is settling down in Pakistan due to various barriers like cost, literacy, security and unavailability of local content. Collaborative efforts are required by the government, the service providers and the people to enhance the adoption of broadband service and secure economic benefits of the broadband. Practical implications The research offers useful implications for managers and policymakers in Asian and African developing countries; the policy measures discussed here may serve as guidelines for them in the design of their own policies regarding broadband supply and demand. Originality/value The study makes an effort to examine the broadband growth in a developing country on the basis of both quantitative and qualitative aspects. The research endeavors to fill the gap on the particular scholarship of research covering potential uptake of broadband services and the effects of constraining elements to broadband adoption in a developing country.

scholarly journals Auction models with resource pooling in modern supply chain management

2019 ◽  
Vol 1 (2) ◽  
pp. 120-134
Author(s):  
Lihua Chen ◽  
Liying Wang ◽  
Yingjie Lan
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Incentive Compatibility ◽  
Supply And Demand ◽  
Vickrey Auction ◽  
Chain Management ◽  
Content Type ◽  
Resource Pooling ◽  
Auction Models ◽  
Auction Model

Purpose In this paper, the main focus is on supply and demand auction systems with resource pooling in modern supply chain from a theoretical modeling perspective. The supply and demand auction systems in modern supply chains among manufacturers and suppliers serve as information sharing mechanisms. The purpose of this paper is to match the supply and demand such that a modern supply chain can achieve incentive compatibility and economic efficiency. The authors design such a supply and demand auction system that can integrate resources to efficiently match the supply and demand. Design/methodology/approach The authors propose three theoretic models of modern supply chain auctions with resource pooling according to the Vickrey auction principle. They are supply auction model with demand resource pooling, demand auction model with supply resource pooling, and double auction model with demand and supply resource pooling. For the proposed auction models, the authors present three corresponding algorithms to allocate resources in the auction process by linear programming, and study the incentive compatibility and define the Walrasian equilibriums for the proposed auction models. The authors show that the solutions of the proposed algorithms are Walrasian equilibriums. Findings By introducing the auction mechanism, the authors aim to realize the following three functions. First is price mining: auction is an open mechanism with multiple participants. Everyone has his own utility and purchasing ability. So, the final price reflects the market value of the auction. Second is dynamic modern supply chain construction: through auction, firm can find appropriate partner efficiently. Third is resources integration: in business practices, especially in modern supply chain auctions, auctioneers can integrate resources and ally buyers or sellers to gain more efficiency in auctions. Originality/value In the paper, the authors propose three theoretic models and corresponding algorithms of modern supply chain auctions with resource pooling according using the Vickrey auction principle, which achieves three functions: price mining, dynamic modern supply chain construction and resources integrating. Besides, these proposed models are much closer to practical settings and may have potential applications in modern supply chain management.

The lead-lag relationship between US industry-level credit and stock markets

2017 ◽  
Vol 44 (4) ◽  
pp. 518-539
Author(s):  
Syed Jawad Hussain Shahzad ◽  
Safwan Mohd Nor ◽  
Nur Azura Sanusi ◽  
Ronald Ravinesh Kumar
Keyword(s):  
Stock Markets ◽  
Financial Crises ◽  
Credit Markets ◽  
Credit Default Swap ◽  
Content Type ◽  
Time Frequency ◽  
Industry Level ◽  
Time Horizons ◽  
Arbitrage Opportunities ◽  
Daily Data

Purpose The purpose of this paper is to identify the arbitrage opportunities between US industry-level credit and stock markets with a focus on dynamic lead-lag relationships given that these markets involve heterogeneous agents operating over various time horizons. Design/methodology/approach The authors use daily data of 11 US industries stock markets and their credit counterparts to model the dynamic dependence and casual nexuses using time-frequency approach, namely, wavelet squared coherence (WTC). Findings The WTC estimation results show that credit and stock markets are out of phase (counter cyclical) and stock markets lead their credit counterparts. The coherence between two markets increases during financial crises. The banks (utilities) industry credit and stock markets have relatively high (low) dependence. Research limitations/implications The casual nexuses between stock and credit markets have multilateral dimensions. Greater interest in examining the relationship between stock markets and credit default swap (CDS) spreads emerged as an important albeit a complex area of research, and gained prominence especially at the onset and following the global financial crises of 2007-2008 which clearly showed that the positive views of CDSs contribution in creating a resilient and efficient financial sector was nothing further from the truth. Practical implications The arbitrage and hedging opportunities between stock and credit markets are industry dependent and vary over investment time horizons. The utilities industry seems attractive for the investment with the objective to exploit arbitrage, but not for hedging. Originality/value The paper, for the first time, employs time-frequency approach to assess the arbitrage opportunities between US industry-level credit and stock markets.

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