Mapping patterns of financial distress among consumers in Zimbabwe

2017 ◽  
Vol 44 (12) ◽  
pp. 1654-1668 ◽  
Author(s):  
Richard Chamboko ◽  
Gerald Kadira ◽  
Lisho Mundia ◽  
Rumbidzai K.T. Chamboko
Keyword(s):  
Economic Growth ◽  
Financial Literacy ◽  
Financial Distress ◽  
Design Methodology ◽  
Consumer Education ◽  
Precise Location ◽  
Content Type ◽  
Consumer Loans ◽  
Policy Measures ◽  
Roll Out

Purpose The purpose of this paper is to provide a mapping of financial distress among consumers in Zimbabwe. To inform policy, it nuances the understanding of the level of financial distress and the precise location of the most distressed consumers in the country. Design/methodology/approach The study mapped financial distress among consumers on the ten provinces of Zimbabwe using credit repayment behavioural indicators from retail consumer loans data. Findings Findings showed widespread financial distress among consumers across the country with Matabeleland North and Matabeleland South provinces being the most affected, whilst Harare and Manicaland were better off. The study underscores the urgent need for an overhaul of the Zimbabwe’s haemorrhaging economy in order to restore dignity among consumers and relieve them of financial hardships. Originality/value The paper provides vital input for policy. Policy measures aimed at invigorating sustained economic growth, troubleshooting and revamping productivity, enhancing external competitiveness and creating employment across the country are desperately needed. Also, there is need for a functional consumer education and counselling entity to roll-out financial literacy programmes and counselling financially distressed obligors across this economically beleaguered country.

Australian central bank holds rate as growth slips

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Central Bank ◽  
Interest Rates ◽  
Labour Markets ◽  
Content Type ◽  
Commercial Lenders ◽  
The Government ◽  
Roll Out ◽  
Growth Forecasts

Significance The RBA has cut its growth forecasts amid rising job losses, weakening demand and increasing signs that the latest COVID-19 lockdowns will continue to slow the economy until the pace of the vaccine roll-out programme can be increased. Impacts Although the RBA is independent, the government will hope it keeps rates low ahead of the elections due next year. Commercial lenders could raise interest rates independently of the RBA if inflation remains high. Wage pressures will re-emerge as labour markets tighten but may be mitigated by the extent of underemployment. Economic growth will be uneven across the country in coming months as pandemic-related restrictions vary by location.

The big bath of demonetization in India: strike on black money for corporate governance

2018 ◽  
Vol 21 (4) ◽  
pp. 594-600 ◽  
Author(s):  
Sandeep Goel
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Content Type ◽  
Positive Effects ◽  
Corporate World ◽  
The World ◽  
Future Improvement ◽  
Policy Measures ◽  
The Government ◽  
Practical Implications

Purpose This paper aims to focus on the concept of abolition of black money and the demonetization movement started in India for cleaning black money and its impact on corporate world and Indian economy. It discusses the corporate governance effect of the demonetization scheme and various policy measures taken by the government to unearth and curb the black money in the country. It also states the challenges in its process of implementation and implications for future. Design/methodology/approach It appraises and reviews the concept of demonetization and its process in India since its implementation on November 8, 2016. Findings The biggest positive effects of this move were eradication of stocked and staked up money, cleansing of the financial system and improving governance in India. But its implementation had mix outcomes with its own challenges for future improvement. Practical implications The lessons drawn from the experience are expected to pave way for the countries at large. Originality/value It is an original paper on demonetization in India, and it is hoped that the lessons learnt thereof will pave the way for the world at large.

Living beyond one’s means: evidence from Malaysia

2015 ◽  
Vol 43 (1) ◽  
pp. 2-18 ◽  
Author(s):  
Yiing Jia Loke
Keyword(s):  
Low Income ◽  
Financial Literacy ◽  
Financial Distress ◽  
Financial Management ◽  
Practical Knowledge ◽  
Financial Education ◽  
Financial Knowledge ◽  
Content Type ◽  
Explanatory Variables ◽  
Financial Behaviour

Purpose – The purpose of the paper is to identify the determinants of the probability of living beyond one’s means. The paper also explores the coping mechanisms of those financially distressed as well as the debt taking behaviour of consumers. Design/methodology/approach – The study uses data obtained from the OECD International Network on Financial Education pilot study on Measuring Financial Literacy in 2010 for the case of Malaysia. A logistic regression model is used to identify the main determinants of the probability that a consumer will live beyond his/her means. The analysis is carried out by using a set of socio-economic factors and the individual’s financial behaviour and attitudinal characteristics as explanatory variables. Findings – The findings indicate that low income and seasonal income earners are more vulnerable to financial distress. Furthermore, having a higher education, higher financial knowledge and prudent financial behaviour and attitude do not necessarily translate into better financial management. Family and friends provide the main source of financial assistance in times of need. Research limitations/implications – The assessment of financial knowledge should go beyond individual’s knowledge on financial concepts and theories. Practical knowledge on financial and cash flow management should be assessed. Practical implications – The study reiterates the importance of financial education. It is imperative to include financial education as part of the schools’ curriculum and also to be incorporated as part of the Continuous Professional Development modules for working adults. Originality/value – The study is based on the first nationwide study of consumer finances in Malaysia. It contributes to the literature by integrating financial behaviour and attitudinal factors into the analysis of the ability of individuals to live within their means. The findings also show the limitations of the existing self-assessment of financial behaviour and attitude and the assessment of financial knowledge.

Competencies physicians need to lead – a Canadian case

2018 ◽  
Vol 31 (2) ◽  
pp. 195-209 ◽  
Author(s):  
Scott Comber ◽  
Kyle Clayton Crawford ◽  
Lisette Wilson
Keyword(s):  
Financial Literacy ◽  
Design Methodology ◽  
Leadership Skills ◽  
Physician Leadership ◽  
Current Form ◽  
Content Type ◽  
Business Skills ◽  
Canadian Physician ◽  
Physician Leaders ◽  
Systems Transformation

Purpose Emerging evidence correlates increased physician leadership effectiveness with improved patient and healthcare system outcomes. To maximize this benefit, it is critical to understand current physician leadership needs. The purpose of this study is to understand, through physicians’ self-reporting, their own and others’ most effective and weakest leadership skills in relation to the LEADS leadership capabilities framework. Design/methodology/approach The authors surveyed 209 Canadian physician leaders about their perceptions of their own and other physicians’ leadership abilities. Thematic analysis was used, and the results were coded deductively into the five LEADS categories, and new categories emerging from inductive coding were added. Findings The authors found that leaders need more skills in the areas of Engage Others and Lead Self, and an emergent category of Business Skills, which includes financial competency, budgeting, facilitation, etc. Further, Achieve Results, Develop Coalitions and Systems Transformation are skills least reported as needed in both self and others. Originality/value The authors conclude that LEADS, in its current form, has a gap in the competencies prescribed, namely, “Business Skills”. They recommend the development of a more comprehensive LEADS framework that includes such skills as financial literacy/competency, budgeting, facilitation, etc. The authors also found that certain dimensions of LEADS are being overlooked by physicians in terms of importance (Systems Transformation, Achieve Results, Develop Coalitions), and this warrants greater investigation into the reasons why these skills are not as important as the others (Engage Others and Lead Self).

The effect of FDI on domestic investment and economic growth case of three Maghreb countries

2019 ◽  
Vol 61 (1) ◽  
pp. 91-105 ◽  
Author(s):  
Walid Ali ◽  
Ali Mna
Keyword(s):  
Economic Growth ◽  
World Bank ◽  
Design Methodology ◽  
Domestic Investment ◽  
Content Type ◽  
The World Bank ◽  
Endogenous Variables ◽  
The Interest Rate ◽  
Investment Growth

PurposeThe purpose of this study is to show how foreign direct investment (FDI) affects domestic investment and economic growth. This study empirically examines this question in the case of three developing countries (Tunisia, Algeria and Morocco).Design/methodology/approachUsing the GMM estimator technique, the authors constructed a system with simultaneous equations by three endogenous variables: economic growth (GDP), FDI and domestic investment (DI).FindingsThe study was a nuance, its results, at the role of investment–growth relationship, are of paramount importance though subtle and slightly different.Originality/valueThe authors used data from international institutions such as the IMF, UNCTAD, OECD and the World Bank for macroeconomic aggregates. However, the interest rate variables are derived from the central banks of the three countries in the sample. The analysis covers the period from 1980 to 2014.

Determinants of the knowledge of the total cost of consumer loans

2019 ◽  
Vol 32 (1) ◽  
pp. 2-19
Author(s):  
Pablo Farías
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Market Segment ◽  
Actual Knowledge ◽  
Content Type ◽  
Total Cost ◽  
Consumer Loans ◽  
Vulnerable Consumers ◽  
Advertising Exposure ◽  
Price Advertising

Purpose The purpose of this paper is to examine the influence of consumer-related and bank-related characteristics on the knowledge of the total cost of consumer loans paid by consumers and test the hypothesized relationships between them. Design/methodology/approach In order to identify the proportion of consumers who do not know the total cost of consumer loans and reasons for it in the Chilean consumer loans industry, an empirical study using a survey administered through personal in-home interviews was carried out. Findings Results show that knowledge of a consumer loans total cost is positively associated with product satisfaction as well as recent and infrequent purchases. This study also shows that a big market segment, comprising 37.2 percent of the probability sample, represents vulnerable consumers with high self-reported knowledge but low actual knowledge of the total costs of consumer loans. This study shows that this market segment has a higher use of the price-quality cue and a higher purchase frequency of consumer loans. Originality/value The present study contributes to the existing literature in the following ways. First, while previous research measured only self-reported knowledge for financial services, the present study examines actual knowledge of the total cost of consumer loans. Second, while previous research for financial services only examined the effects of the use of the price-quality cue and price advertising exposure, the present study also examines 11 other determinants, which are relevant for managers, regulators and researchers.

Paradigms and paradoxes: the futures of growth and degrowth

2018 ◽  
Vol 38 (11/12) ◽  
pp. 1133-1146 ◽  
Author(s):  
Udo Pesch
Keyword(s):  
Economic Growth ◽  
Environmental Impact ◽  
Design Methodology ◽  
Degradation Products ◽  
Technological Development ◽  
General Outline ◽  
Content Type ◽  
Rebound Effects ◽  
Economic Progress ◽  
Future Orientations

Purpose The purpose of this paper is to introduce three storylines that address the relation between economic growth, technical innovation and environmental impact. The paper assesses if and how these storylines as guiding visions increase our range of future orientations. Design/methodology/approach The paper first explains its general outline and then explores different strands of literature to arrive at its analytical conclusions. Findings Pursuing the three storylines in a paradigmatic articulation creates paradoxes. The growth paradigm focuses on economic growth as its main goal. To overcome environmental degradation, products have to be substituted by environmentally friendly alternatives, but the continuous substitution of finite resources seems unlikely possible. The storyline of innovation sees technological development as a driver of economic progress, and holds that innovations allow the decoupling of economic growth from environmental impact, a claim that is compromised by the occurrence of rebound effects. The degrowth storyline holds that economic growth has to be stopped altogether, but is unclear how this can be done. Originality/value By articulating paradigmatic perspectives as storylines, a new understanding on how these perspectives can be figured as a constructive repertoire of guiding visions and not as mere theory-based descriptions.

Learnings from implementing telemonitoring – the LITE study

2019 ◽  
Vol 27 (4) ◽  
pp. 346-356 ◽  
Author(s):  
Josephine S.F. Chow ◽  
Veronica Eugenia Gonzalez-Arce ◽  
Andrew Knight ◽  
Nutan Maurya ◽  
Friedbert Kohler
Keyword(s):  
Chronic Disease ◽  
Qualitative Study ◽  
Clinical Outcomes ◽  
Current Literature ◽  
Design Methodology ◽  
Structured Interviews ◽  
Content Type ◽  
Clinician Experiences ◽  
Purposive Sample ◽  
Roll Out

Purpose A recent study on the implementation of telemonitoring has provided an opportunity to explore how telemonitoring could be further developed to enhance better patient, carer and clinician experiences for patients living with chronic disease. The purpose of this paper is to identify the challenges and lessons of the telemonitoring implementation and to identify strategies to inform future implementation. Design/methodology/approach A qualitative study was conducted with a purposive sample using semi-structured interviews to explore their views about the issues identified in the research aims. Interview themes were informed by current literature and the findings from local studies. Interviews were recorded, transcribed verbatim and analyzed thematically. Findings A total of 16 participants were interviewed. Overall the recruitment of 56 percent were from identified potential participants. Five core themes were identified, linking different aspects of the telemonitoring implementation: impact of telemonitoring; implementation and management lessons; program risks; program main changes from beginning; and future strategies and recommendations. Originality/value This study will inform the wider roll out of telemonitoring across the region with the goal of ensuring future interventions achieve better clinical outcomes, patient, carer experience and deliver better value.

Bank-based and market-based development and economic growth: an international investigation

2019 ◽  
Vol 36 (3) ◽  
pp. 365-394 ◽  
Author(s):  
Isaac Boadi ◽  
Daniel Osarfo ◽  
Perpetual Boadi
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Method Of Moments ◽  
Design Methodology ◽  
Generalized Method Of Moments ◽  
Fixed Effect ◽  
Relative Impact ◽  
Content Type ◽  
Regional Effects ◽  
Development Policies

Purpose The purpose of this paper is to investigate the relative impact of bank-based and market-based financial developments on economic growth from 1984 to 2015, using 60countries. Design/methodology/approach This study uses fixed effect and generalized method of moments (GMM) to investigate the relative impact of bank-based and market-based financial developments on economic growth from 1984 to 2015, using 60 countries. The study further controls regional effects and the Asian crisis, as well as the global economic crisis. Findings The empirical results of the study revealed that market-based development positively affects economic growth. Besides, market-based financial development indirectly promotes investment, which has the potential to strongly enhance growth. The findings of this study, therefore, provide more support to pro-market-based financial development policies in these regions. Interestingly, bank-based development has no direct impact on development, but indirectly encourages investment, which also promotes growth. Originality/value This paper is the first of its kind to empirically examine fixed effect and GMM to investigate the relative impact of bank-based and market-based financial developments on economic growth from 1984 to 2015, using 60 countries.

Strengthening the weak link of Macao's responsible gambling practices: a consumer education perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chunli Ji ◽  
Sudhir H. Kale
Keyword(s):  
Design Methodology ◽  
Weak Link ◽  
Academic Research ◽  
Responsible Gambling ◽  
Consumer Education ◽  
Content Type ◽  
Current State ◽  
Government Documents ◽  
The Government

PurposeThe purpose of this paper is to assess the current state of consumer education in the context of responsible gambling in Macao and to suggest ways in which Macao could enhance its consumer education efforts to meet its challenges with regard to responsible gambling.Design/methodology/approachExploratory and interpretative approaches have been adopted to suggest why and how Macao should strengthen responsible gambling education. The methodology involved extensive review of relevant academic research, government documents and reports related to Macao's responsible gambling initiatives.FindingsEffective long-term responsible gambling education is needed in Macao to further people's understanding of gambling and gambler's fallacy. The government should take leadership in influencing all stakeholders toward effective initiatives and behaviors related to responsible gambling education.Originality/valueAlthough research on responsible gambling education is still in its infancy, its importance in reducing common misconceptions about gambling has already been established. This study contributes to strengthen Macao's responsible gambling practices by proposing several changes needed to provide desired outcomes through consumer education.

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