Peru will struggle to maintain growth levels in 2017

2017 ◽  
Keyword(s):  
Growth Rate ◽  
Public Spending ◽  
Public Works ◽  
Target Range ◽  
Gdp Growth ◽  
Lower Growth ◽  
Content Type ◽  
Growth Prospects ◽  
The Impact

Subject Declining growth prospects. Significance The impact of widespread flooding, coupled with the effects of the Odebrecht scandal on public works contracts, has made private analysts reduce their forecasts for GDP growth this year. Although up on 2015, last year’s growth rate, buoyed by higher mining exports, was already lower than initially anticipated. Impacts Lower growth will make it more difficult to tackle poverty and raise employment levels. Inflation this year should be within the government’s 1-3% target range. Increased public spending will be used to maintain growth levels.

Thailand’s democratic deficit will dampen GDP growth

2018 ◽  
Keyword(s):  
Public Spending ◽  
Gdp Growth ◽  
Democratic Deficit ◽  
National Strategy ◽  
Consumer Spending ◽  
Short Term ◽  
Domestic Activity ◽  
Content Type ◽  
The Government ◽  
The Impact

Subject Outlook for the Thai economy. Significance Thailand's GDP grew by 3.9% last year, the most since 2012, and is expected to remain at around 4.0% this year, with stronger public spending supporting surging tourism and solid consumer spending. Thailand’s National Strategy aims to raise GDP growth to 5-6%, but this ambition faces rising short-term risks and longer-term structural impediments. Impacts Despite rising pressure on the government to hold elections, protests will not grow, limiting the impact on spending and tourism. Automobiles, semiconductors and other electronics -- key Thai exports -- will be hit by deteriorating US-China relations. The Bank of Thailand is one South-east Asian central bank keen to ‘normalise’ rates, but higher rates could dampen domestic activity.

scholarly journals Stern review on the economics of climate change: implications for Bangladesh

2019 ◽  
Vol 11 (1) ◽  
pp. 100-117 ◽  
Author(s):  
Apurba Roy ◽  
Mohammed Ziaul Haider
Keyword(s):  
Climate Change ◽  
Growth Rate ◽  
Gdp Growth ◽  
Content Type ◽  
Impact Of Climate Change ◽  
Gdp Growth Rate ◽  
The World ◽  
Stern Review ◽  
Cent Level ◽  
The Impact

Purpose The purpose of this study is to investigate the impact of climate change on economic development in Bangladesh. More specifically, the research aims to figure out the influence of climate change on gross domestic product (GDP) growth rate related to different sectors such as agriculture, forest, water, health and infrastructure. It also attempts to explore the effect of climate change on the coastal economy of Bangladesh. Design/methodology/approach A set of statistical and econometric techniques, including descriptive and correlation analysis and time series regression model, was applied to address the objective of the research. Sector-wise time series economic data were collected from the World Bank for the period between 1971 and 2013. Climate data were received from the Bangladesh Agricultural Research Council online database for the period between 1948 and 2013. Findings The results from the statistical analysis show that climate variables such as temperature and rainfall have changed between 1948 and 2013 in the context of Bangladesh. The econometric regression analysis demonstrates that an increase by 1°C of annual mean temperature leads to a decrease in the GDP growth rate by 0.44 per cent on average, which is statistically significant at the 5 per cent level. On the other hand, the estimated coefficients of agriculture, industry, services, urbanization and export are positively associated with GDP growth rate, and these are statistically significant at the 1 per cent level. Sector-wise correlation analysis provides statistical evidence that climate change is negatively associated with various sectors, such as agriculture, forest, human health and arable land. In contrast, it has a positive relation to water access and electricity consumption. Analysis of coastal regions shows that climate change negatively affects the local economic sectors of the coastal zone of the country. Originality/value Although this study has received significant insight from the world-renowned research publication “The Economics of Climate Change: The Stern Review”, there is a dearth of research on the economic impact of climate change in the context of Bangladesh. The findings of the paper provide deep insight into and comprehensive views of policy makers on the impact of climate change on economic growth and various sectors in Bangladesh.

The effect of intangible assets on sustainable growth and firm value – Evidence on intellectual capital investment in companies listed on Bucharest Stock Exchange

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Catalin Ionita ◽  
Elena Dinu
Keyword(s):  
Growth Rate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Listed Companies ◽  
Sustainable Growth ◽  
Content Type ◽  
Sustainable Growth Rate ◽  
The Impact

PurposeThe present study investigates the connection between company investments in intellectual capital (IC) and how they translate into financial value. The aim is to test the impact of intangible assets on the firm value and its sustainable growth.Design/methodology/approachThe research employs computation models to determine the sustainable growth rate (SGR) and the firm value (FV), and by using the ordinary least squares (OLS) model through a linear regression assesses the relationship between the dependent variables and expenditures on intangibles like R&D, IT programs and patents. A sample of 42 companies has been selected out of the 78 listed at Bucharest Stock Exchange (BSE), based on the appropriateness of the information disclosed in the financial reports for the period 2016–2019.FindingsThe results show that intangibles classified as innovative competences (R&D and Patents) do not have a positive impact on SGR and FV in listed companies from Romania. Moreover, R&D has a negative and significant effect on FV, while IT Programs have a positive and significant impact on FV, but not on the SGR. Variables categorised as economic competencies (Brands, Shares held in associates and jointly controlled entities) and firm structure-specific variables (Leverage, Firm Performance) seem to have a significant effect on SGR and FV. Shares held in associates and jointly controlled entities is the variable that can have the biggest impact when it comes to FV for companies listed at BSE.Research limitations/implicationsDue to non-disclosure of specific information by some companies, or lack of investments in intangibles the sample had to be reduced and does not cover all listed companies.Practical implicationsCompanies listed on the Regulated Market from the Bucharest Stock Exchange should maintain their scale of liabilities at a reasonable level when financing intangible assets in order to ensure corporate long-term and sustainable development. Also, these companies should maintain awareness about the importance of intangible assets and invest more in specific sub-components, in order to sustain competitive advantage. Recognizing the roles of intangibles, managers need to develop strategies to invest in profitable intangibles by reasonably allocating their limited resources, in order to achieve sustainable growth and increase company success.Originality/valueStudies concerning the relation between investments in intangibles and sustainable growth rate and firm value of listed Romanian companies are very scarce. This paper reveals new research, never before undertaken, concerning expenditures on intangibles by Romanian companies and the valuation of such investments on Bucharest Stock Exchange.

The impact of blacklists on external deposits: one size does not fit all

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Jonsson ◽  
Jan Pettersson ◽  
Christian Nils Larson ◽  
Nir Artzi
Keyword(s):  
Growth Rate ◽  
Design Methodology ◽  
Descriptive Statistics ◽  
Comparable Data ◽  
Patriot Act ◽  
Content Type ◽  
Probable Impact ◽  
The Impact ◽  
Practical Implications ◽  
Country Specific

Purpose This study aims to measure the impact of the Non-Cooperative Countries and Territories, Organization for Economic Cooperation and Development and US PATRIOT Act Section 311 blacklists on external deposits from blacklisted jurisdictions into BIS reporting countries in 1996–2008, a period when anti-money laundering-related actions were consistently less stringent than post-2010, to see whether they had an effect even absent the threat of sizable financial fines. Design/methodology/approach The study uses descriptive statistics and bivariate and multivariate regressions to analyze the probable impact from blacklists on non-bank external deposits. The country sample is divided into offshore financial centers (OFCs) and non-OFCs and includes 158 non-listed countries. The impact of the blacklists is tested both jointly and individually for the respective blacklists. Findings The authors find mixed impact from jurisdictions being blacklisted on the growth rate of stocks of deposits into BIS reporting countries. Effects are often zero, negative in several cases and positive in some cases. This is consistent with the “stigma effect” and the “stigma paradox” in the literature. An overall impact from blacklisting is difficult to discern. Different blacklists had different effects, and the same blacklist impacted countries differently, illustrating the importance of disaggregating the analysis by individual countries. Research limitations/implications Interpretation of these data is limited by the absence of comparable data on non-resident deposits in blacklisted jurisdictions. Practical implications The impact of a blacklist depends in part on the structure of the listed jurisdictions’ economies, implying that country-specific sanctions may be more effective than blacklists. Originality/value This is one of the very few papers to date to rigorously test the impact of blacklists on external deposits.

Applying the Fama and French three-factor model to analyze risk/reward in the Spanish REITs: an ARDL approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhenyu Su ◽  
Paloma Taltavull
Keyword(s):  
Growth Rate ◽  
Factor Model ◽  
Explanatory Power ◽  
Gdp Growth ◽  
Size Factor ◽  
Content Type ◽  
Gdp Growth Rate ◽  
Fama And French ◽  
Three Factor

Purpose This paper aims to analyse the risk and excess returns of the Spanish real estate investment trusts (S-REITs) using various methods, though focusing primarily on the Fama-French three-factor (FF3) model, over the period from 2007Q3 to 2017Q2. Design/methodology/approach The autoregressive distributed lag model is used for the empirical analysis to test long-term stable relationships between variables. Findings The findings indicate that the FF3 model is suitable for the S-REITs market, better explaining the S-REITs’ returns variation than the traditional single-index capital asset pricing model (CAPM) and the Carhart four-factor model. The empirical evidence is reasonably consistent with the FF3 model; the values for the market, size and value are highly statistically significant over the analysis period, with 68.7% variation in S-REITs’ returns explained by the model. In the long run, the market factor has less explanatory power than the size and value factors; the positive long-term multiplier of the size factor indicates that small S-REIT companies have higher returns, along with higher risk, while the negative multiplier of the value indicator suggests that S-REITs portfolios prefer to allocate growth REITs with low book-to-market ratios. The empirical findings from a modified FF3 model, which additionally incorporates Spain’s gross domestic product (GDP) growth rate, two consumer price index (CPI) macro-factors and three dummy variables, indicates that GDP growth rate and CPI also affect S-REITs’ yields, while investment funds with capital calls have a small influence on S-REITs’ returns. Practical implications The regression results of the standard and extended FF3 model can help researchers understand S-REITs’ risk and return through a general stock pattern. Potential investors are given more information to consider the new Spanish investment vehicle before making a decision. Originality/value The paper uses standard techniques but applies them for the first time to the S-REIT market.

Large US household balance sheets pose macro risks

2021 ◽  
Keyword(s):  
Interest Rates ◽  
Health Costs ◽  
Gdp Growth ◽  
Lower Growth ◽  
Content Type ◽  
Balance Sheets ◽  
Trade Growth ◽  
Productivity Gains ◽  
Macroeconomic Risks

Significance An examination of the factors behind the expansion indicates that outsized balance sheets will persist and will pose a number of macroeconomic risks. Impacts Slower workforce growth will pressure GDP growth, trade growth and long-term interest rates, unless productivity gains can offset this. A record number of US business deaths and births in 2020 will affect productivity and have unpredictable impacts on the economy. Lower growth makes it harder to stabilise debt-to-GDP ratios, just as pension and health costs rise as populations age in major economies.

Do market size and financial development indicators affect human capital of select south Asian economies?

2019 ◽  
Vol 46 (7) ◽  
pp. 887-903 ◽  
Author(s):  
Narayan Sethi ◽  
Bikash Ranjan Mishra ◽  
Padmaja Bhujabal
Keyword(s):  
Growth Rate ◽  
Human Capital ◽  
Financial Development ◽  
South Asian ◽  
Market Size ◽  
Content Type ◽  
Development Indicators ◽  
Long Run ◽  
Asian Economies ◽  
The Impact

Purpose The purpose of this paper is to empirically investigate whether market size and its growth rate, along with financial development indicators, affect human capital in selected south Asian economies over the time period from 1984 to 2015. Design/methodology/approach The stationarity of the variables are checked by LLC, IPS, ADF and Phillips–Perron panel unit-root tests. Pedroni’s and Kao’s panel co-integration approaches are employed to examine the long-run relationship among the variables. To estimate the coefficients of co-integrating vectors, both PDOLS and FMOLS techniques are used. The short-term and long-run causalities are examined by panel granger causality. Findings From the empirical results, the authors found that both the market size and financial development play an important role in the development of human capital in the selected south Asian economies. It is evident that a large market size and faster degree of financial development in the selected countries result in better human capital formation. Originality/value There are a number of studies on the impact of financial development indicators on human capital and economic growth, but there is hardly any study that considers market size and its growth rate along with financial development indicators with human capital in the context of south Asian economies. The study fills this research gap.

scholarly journals Physiological Characterization of an Anaerobic Ammonium-Oxidizing Bacterium Belonging to the “Candidatus Scalindua” Group

2013 ◽  
Vol 79 (13) ◽  
pp. 4145-4148 ◽  
Author(s):  
Takanori Awata ◽  
Mamoru Oshiki ◽  
Tomonori Kindaichi ◽  
Noriatsu Ozaki ◽  
Akiyoshi Ohashi ◽  
...  
Keyword(s):  
Growth Rate ◽  
Specific Growth ◽  
Maximum Specific Growth Rate ◽  
Ammonium Oxidation ◽  
Lower Growth ◽  
Content Type ◽  
Physiological Characterization ◽  
Phylogenetic Affiliation ◽  
Lower Growth Rate

ABSTRACTThe phylogenetic affiliation and physiological characteristics (e.g.,Ksand maximum specific growth rate [μmax]) of an anaerobic ammonium oxidation (anammox) bacterium, “CandidatusScalindua sp.,” enriched from the marine sediment of Hiroshima Bay, Japan, were investigated. “CandidatusScalindua sp.” exhibits higher affinity for nitrite and a lower growth rate and yield than the known anammox species.

Oreskovic government in Croatia may prove short-lived

2016 ◽  
Keyword(s):  
Political Instability ◽  
Public Spending ◽  
Economic Restructuring ◽  
Right Wing ◽  
Case Scenario ◽  
Content Type ◽  
Growth Prospects ◽  
The Government ◽  
Social Conservatism

Significance After protracted negotiations, Croatia, at last, has a government, comprising the conservative Patriotic Coalition -- the Croatian Democratic Union (HDZ), plus a few small parties -- and the centre-right Bridge ('Most') of Independent Lists. The government is unusual because it is led by a non-partisan figure, Tihomir Oreskovic, a businessman who grew up in Canada and has only a shaky grasp of the Croatian language. In a best-case scenario, the government could deliver important and necessary reforms. Impacts Efforts to cut public spending will reduce the risk of a damaging financing crisis. A programme of economic restructuring will boost Croatia's long-term growth prospects. The election of two right-wing parties will consolidate the drift towards social conservatism. Tensions in the coalition will perpetuate political instability and could precipitate new elections.

Lack of people may be Russia's greatest challenge

2018 ◽  
Keyword(s):  
Central Asia ◽  
Labour Productivity ◽  
Premature Death ◽  
Gdp Growth ◽  
Retirement Age ◽  
The Caucasus ◽  
Content Type ◽  
Working People ◽  
Growth Prospects ◽  
Vladimir Putin

Significance The population is set to shrink until at least 2036. To support labour productivity as a factor for GDP growth, President Vladimir Putin has set out plans to encourage families and reduce premature death that may realistically slow but not reverse the trend. Impacts Opposition groups will try to capitalise on popular discontent provoked by impending increases in retirement age. New individual financial savings products are needed to help working people plan for future. Permanent immigration from Central Asia and the Caucasus will deplete those countries' labour forces, harming growth prospects.

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