US-China phase-two trade deals will be issue specific

2021 ◽  
Keyword(s):  
Financial Markets ◽  
Financial Services ◽  
The United States ◽  
Short Term ◽  
Content Type ◽  
Market Opening ◽  
Economic Diplomacy ◽  
Agricultural Imports ◽  
Trade Deals

Significance To halt trade hostilities, Beijing promised to buy more US imports, dismantle tariff and non-tariff barriers and open its financial services market to US firms. In return, the United States promised not to implement its threats to increase tariffs on China's exports. Intractable issues were deferred for 'phase two'. Impacts Beijing may be willing to offer more IP protections and further open financial markets, but will hold the line on labour and human rights. China will continue its strategic diversification of agricultural imports and using them as a tool of economic diplomacy. Market opening will matter more to US businesses' long-term growth in China than short-term trade agreements.

Short-term performance of stocks after fraudulent financial reporting announcement

2019 ◽  
Vol 26 (2) ◽  
pp. 464-476 ◽  
Author(s):  
Mehmet Eryigit
Keyword(s):  
Financial Markets ◽  
Stock Returns ◽  
Financial Reporting ◽  
Abnormal Return ◽  
Fraudulent Financial Reporting ◽  
Short Term ◽  
Content Type ◽  
Publicly Traded Companies ◽  
Company Stock

Purpose Availability of accurate and reliable information in financial markets helps investors make well-informed decisions on capital allocations which is beneficial for long-term economic growth. In this regards, the role of auditing firms that inspect the financial statements of the publicly traded companies in sound operation of financial markets has been increasing. The Capital Market Board of Turkey (CMBT) has the task and responsibility of investigating fraudulent information disseminated by the firms whose stocks are traded in Borsa Istanbul. The investigations can lead to monetary penalties if fraud is proven and the results are published by CMBT in its weekly bulletin. The present study aims to examine the effect of announcements of financial irregularities of companies in CMBT Bulletin on the performance of the relevant company stock in the short term. Design/methodology/approach This study uses abnormal return, cumulative abnormal return and cumulative average abnormal return as metrics and parametric, as well as non-parametric tests to ascertain whether the announcements of financial irregularities in company operations have any statistically significant effect on the return of its stock. Findings The results indicate that publication of the financial penalty news by CMBT in its bulletin has almost no statistically significant influence on the performance of the relevant companies’ stock in Borsa Istanbul. The findings indicate that either the investors in this particular markets do not consider such news relevant to long-term success of the firm or the announcement does not provide any new information and penalties have been priced into the stock before the announcement in the bulletin. Originality/value In literature there is no more research about the effect of the announcements of administrative monetary penalties and crime complaints on the stock returns.

Overeducation, persistence and unemployment in Spanish labour market

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nuria Sánchez-Sánchez ◽  
Adolfo Cosme Fernández Puente
Keyword(s):  
Education Reform ◽  
Labour Market ◽  
The United States ◽  
Short Term ◽  
Content Type ◽  
Unemployment Rates ◽  
High Elasticity ◽  
The One ◽  
Term Labour

PurposeThe phenomenon of overeducation and the magnitude and persistence of the imbalance impact are analysed for the Spanish labour market from 2006 to 2013.Design/methodology/approachThe authors present random-effects probit estimations comparing individuals and their short-term and long-term labour mismatches.FindingsThe results support the existence of long-term persistence (status in the previous year) and short-term persistence (status at the beginning of the observed period) in overeducation. Precariousness in the labour market, measured by temporality or by the strong destruction of employment, could force individuals to choose a job below their qualification. Additionally, the phenomenon of overeducation is shown to have increased in the period 2010–2013 in relation to the period 2006–2009 independently of the region considered, though those regions with higher unemployment rates display greater imbalances.Research limitations/implicationsAlthough the results come from two different samples, it is possible to conclude that overeducation is a phenomenon that tends to perpetuate over time in Spain.Practical implicationsOne of the issues of greatest interest that is crucial to assess the relevance of the spreading of overeducation is whether overeducation can be considered as a temporal mismatch, in which case the seriousness of the problem would not be so important, or, on the contrary, as a persistent one, in which case, governments should take it into account in their education reform programmes.Originality/valueOvereducation persistence has been studied in countries such as the United States, Canada, Switzerland or Germany; however, in Spain, there are hardly any studies. Spanish labour market has certain specificities that make the analyses relevant: the high unemployment rates and high elasticity of employment with respect to the economic cycles. Under these circumstances, workers could opt for more stable positions that require a lower qualification than the one they have. This option could be even more convenient during crisis. Additionally, the article includes a disaggregated analysis by Spanish regions. The differences in the unemployment rates within and between regions are significant (some of them had at the beginning of the crisis an unemployment rate close to 7%, while in others it exceeded 12%) which allows the authors to study the phenomenon in different contexts.

Outsider Ko Wen-je could become Taiwan's president

2019 ◽  
Keyword(s):  
United States ◽  
Political Party ◽  
The United States ◽  
Election Campaigns ◽  
Short Term ◽  
Content Type ◽  
Political Landscape

Subject Profile of Ko Wen-je. Significance There are strong indications that Ko Wen-je, the independent mayor of Taipei, will run for election as Taiwan’s president in January 2020. Presidential hopefuls often launch their election campaigns with US trips to shore up relations with Washington, Taiwan’s key security backer; Ko will make a nine-day visit to the United States later this month. He also stated last month that he was considering forming a new political party; the single reason he would need a party of his own would be to make a run for the presidency. Impacts Ko would be a controversial and probably one-term president. Ko could have a game-changing impact in the short term but is unlikely to alter Taiwan's political landscape fundamentally in the long term. Ko would likely take a more moderate stance on China than Tsai does. Ko's outspokenness is what makes him popular, but it also makes him prone to gaffes that could ultimately undermine him.

Brexit’s impact on the City of London will vary

2020 ◽  
Keyword(s):  
Financial Markets ◽  
Free Trade ◽  
Financial Services ◽  
Single Market ◽  
Services Trade ◽  
Content Type ◽  
Eu Countries ◽  
Trade Deals ◽  
City Of London ◽  
The City

Significance The alternative to passporting after Brexit is ‘equivalence’, which would allow EU and UK firms access each other’s financial markets. However, such a regime does have the same sectoral coverage as passporting and is vulnerable to revocation. Impacts New free trade deals with non-EU countries will not substitute for the EU’s single market in terms of financial services coverage. While the strength of other EU financial centres will grow, London has an infrastructure that is difficult to replicate. Failure to reach an agreement on UK-EU financial services trade could see many firms unable to serve EU clients from London.

scholarly journals Long-Term Finance and Investment with Frictional Asset Markets

2021 ◽  
Vol 13 (4) ◽  
pp. 411-448
Author(s):  
Julian Kozlowski
Keyword(s):  
United States ◽  
Financial Markets ◽  
Yield Curve ◽  
The United States ◽  
Asset Markets ◽  
Policy Intervention ◽  
Short Term ◽  
Financial Costs ◽  
Lower Productivity

Trading frictions in financial markets affect more long-term than short-term bonds, generating an upward-sloping yield curve. Long-term financing is more expensive in economies with higher trading frictions so firms choose to borrow and invest in shorter horizons and lower productivity projects. The theory guides a new identification of the slope of liquidity spread in the data. We measure and calibrate the model for the United States, and counterfactual exercises suggest that variations in trading frictions can have significant effects on maturity choices and investment. A policy intervention improves liquidity, reduces long-term financial costs, and promotes investment in longer-term projects. (JEL E43, E44, E52, G12, G21, G32, O16)

The Future of Muslim Education in the United States: An Agenda for Research

2003 ◽  
Vol 20 (3-4) ◽  
pp. 46-82
Author(s):  
Fathi Malkawi
Keyword(s):  
United States ◽  
The United States ◽  
American Education ◽  
Future Trends ◽  
Muslim Community ◽  
Short Term ◽  
The Future ◽  
Muslim Education ◽  
Future Plans

This paper addresses some of the Muslim community’s concerns regarding its children’s education and reflects upon how education has shaped the position of other communities in American history. It argues that the future of Muslim education will be influenced directly by the present realities and future trends within American education in general, and, more importantly, by the well-calculated and informed short-term and long-term decisions and future plans taken by the Muslim community. The paper identifies some areas in which a wellestablished knowledge base is critical to making decisions, and calls for serious research to be undertaken to furnish this base.

Impact of FII’s and FDI’s on Indian Stock Market

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Dr. Kamlesh Kumar Shukla
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Global Economy ◽  
Short Term ◽  
Earnings Growth ◽  
The Past ◽  
Bull Market ◽  
Indian Stock Market

FIIs are companies registered outside India. In the past four years there has been more than $41 trillion worth of FII funds invested in India. This has been one of the major reasons on the bull market witnessing unprecedented growth with the BSE Sensex rising 221% in absolute terms in this span. The present downfall of the market too is influenced as these FIIs are taking out some of their invested money. Though there is a lot of value in this market and fundamentally there is a lot of upside in it. For long-term value investors, there’s little because for worry but short term traders are adversely getting affected by the role of FIIs are playing at the present. Investors should not panic and should remain invested in sectors where underlying earnings growth has little to do with financial markets or global economy.

Disruptive Soft Law and Post-Crisis US Reform

2018 ◽  
Author(s):  
Abraham L. Newman ◽  
Elliot Posner
Keyword(s):  
Financial Markets ◽  
Great Recession ◽  
Regulatory Reform ◽  
The United States ◽  
Soft Law ◽  
Long Term Effects ◽  
The Great Recession ◽  
The Us ◽  
International Interaction

Chapter 6 examines the long-term effects of international soft law on policy in the United States since 2008. The extent and type of post-crisis US cooperation with foreign jurisdictions have varied considerably with far-reaching ramifications for international financial markets. Focusing on the international interaction of reforms in banking and derivatives, the chapter uses the book’s approach to understand US regulation in the wake of the Great Recession. The authors attribute seemingly random variation in the US relationship to foreign regulation and markets to differences in pre-crisis international soft law. Here, the existence (or absence) of robust soft law and standard-creating institutions determines the resources available to policy entrepreneurs as well as their orientation and attitudes toward international cooperation. Soft law plays a central role in the evolution of US regulatory reform and its interface with the rest of the world.

A Note Concerning the Dynamics of Government Bond Yields

2021 ◽  
pp. 056943452098827
Author(s):  
Tanweer Akram
Keyword(s):  
Interest Rate ◽  
Financial Markets ◽  
Yield Curve ◽  
Empirical Studies ◽  
State Theory ◽  
Government Bond ◽  
Bond Yields ◽  
Short Term ◽  
Government Bonds

Keynes argued that the central bank can influence the long-term interest rate on government bonds and the shape of the yield curve mainly through the short-term interest rate. Several recent empirical studies that examine the dynamics of government bond yields not only substantiate Keynes’s view that the long-term interest rate responds markedly to the short-term interest rate but also have relevance for macroeconomic theory and policy. This article relates Keynes’s discussions of money, the state theory of money, financial markets, investors’ expectations, uncertainty, and liquidity preference to the dynamics of government bond yields for countries with monetary sovereignty. Investors’ psychology, herding behavior in financial markets, and uncertainty about the future reinforce the effects of the short-term interest rate and the central bank’s monetary policy actions on the long-term interest rate. JEL classifications: E12; E40; E43; E50; E58; E60; F30; G10; G12; H62; H63

Italy's politics without policy: Balancing Atlanticism and Europeanism in the Middle East

Modern Italy ◽  
2008 ◽  
Vol 13 (2) ◽  
pp. 135-153 ◽  
Author(s):  
Raffaella A. Del Sarto ◽  
Nathalie Tocci
Keyword(s):  
Foreign Policy ◽  
Middle East ◽  
The United States ◽  
The European Union ◽  
Short Term ◽  
The Government ◽  
Specific Interests ◽  
Policy Shifts ◽  
The Eu

Focusing on Italy's Middle East policies under the second Berlusconi (2001–2006) and the second Prodi (2006–2008) governments, this article assesses the manner and extent to which the observed foreign policy shifts between the two governments can be explained in terms of the rebalancing between a ‘Europeanist’ and a transatlantic orientation. Arguing that Rome's policy towards the Middle East hinges less on Italy's specific interests and objectives in the region and more on whether the preference of the government in power is to foster closer ties to the United States or concentrate on the European Union, the analysis highlights how these swings of the pendulum along the EU–US axis are inextricably linked to a number of underlying structural weaknesses of Rome's foreign policy. In particular, the oscillations can be explained by the prevalence of short-term political (and domestic) considerations and the absence of long-term, substantive political strategies, or, in short, by the phenomenon of ‘politics without policy’ that often characterises Italy's foreign policy.

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