scholarly journals ANALYZING THE TFP PERFORMANCE OF CHINESE INDUSTRIAL ENTERPRISES

2018 ◽  
Vol 63 (05) ◽  
pp. 1263-1284
Author(s):  
KUI-WAI LI
Keyword(s):  
Regression Analysis ◽  
Direct Investment ◽  
Industrial Output ◽  
Factor Productivity ◽  
Domestic Consumption ◽  
2008 Financial Crisis ◽  
Industrial Enterprises ◽  
Product Acceptability ◽  
The 2008 Financial Crisis ◽  
The Impact

After nearly four decades of rapid growth, the China economy is faced with various challenges. The 2008 crisis would have served as the last straw as China experienced falls and volatilities in industrial output, export and foreign direct investment. The new policy focuses on expansion of domestic consumption and rebalancing. Given the unreliability of Chinese products, there is a need to rebuild product acceptability and market confidence. The structure of industrial enterprises, especially the small- and medium-sized enterprises, will play a crucial role in the next phase of development in the China economy. This paper uses the data on Chinese industrial enterprises to estimate the productivity performance of enterprises across regions and industries. The discussion is placed on the impact of the 2008 financial crisis on the China economy and industries enterprises. By using a simple methodology and OLS regression analysis on the estimation of total factor productivity, the empirical results show that SMEs and non-SMEs do perform differently in different industries and across regions, but SMEs suffered more than non-SMEs since the 2008 crisis.

RESPONSE OF STOCK MARKET DURING COVID-19 AND 2008 FINANCIAL CRISIS: A COMPARATIVE EVIDENCE FROM BRICS NATIONS

2021 ◽  
pp. 1-24
Author(s):  
SANJEEV KUMAR ◽  
JASPREET KAUR ◽  
MOSAB I. TABASH ◽  
DANG K. TRAN ◽  
RAJ S DHANKAR
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Stock Market ◽  
Stock Returns ◽  
Stock Markets ◽  
2008 Financial Crisis ◽  
First Case ◽  
Egarch Model ◽  
The 2008 Financial Crisis ◽  
The Impact

This study attempts to examine the response of stock markets amid the COVID-19 pandemic on prominent stock markets of the BRICS nation and compare it with the 2008 financial crisis by employing the GARCH and EGARCH model. First, average and variance of stock returns are tested for differences before and after the pandemic, t-test and F-test were applied. Further, OLS regression was applied to study the impact of COVID-19 on the standard deviation of returns using daily data of total cases, total deaths, and returns of the indices from the date on which the first case was reported till June 2020. Second, GARCH and EGARCH models are employed to compare the impact of COVID-19 and the 2008 financial crisis on the stock market volatility by using the data of respective stock indices for the period 2005–2020. The results suggest that the increasing number of COVID-19 cases and reported death cases hurt stock markets of the five countries except for South Africa in the latter case. The findings of the GARCH and EGARCH model indicate that for India and Russia, the financial crisis of 2008 has caused more stock volatility whereas stock markets of China, Brazil, and South Africa have been more volatile during the COVID-19 pandemic. The study has practical implications for investors, portfolio managers, institutional investors, regulatory institutions, and policymakers as it provides an understanding of stock market behavior in response to a major global crisis and helps them in taking decisions considering the risk of these events.

The Validity of Okun’s Law: An Empirical Evidence for Nigeria

2019 ◽  
Vol 4 (2) ◽  
pp. 136-144
Author(s):  
Divine Ndubuisi Obodoechi ◽  
Charles Uchenna Onuoha
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Population Growth ◽  
Direct Investment ◽  
Industrial Output ◽  
Okun’S Law ◽  
Net Foreign Assets ◽  
The Government ◽  
The Impact ◽  
Foreign Assets

This paper empirically investigates the relationship between economic growth and unemployment in Nigeria under the Okun’s Law framework. The Auto Regressive Distributed Lag model approach, the ARDL Bounds Test and Cointegration Test were employed in this paper. Economic Growth was also regressed on unemployment, log of industrial output, log of net foreign assets, log of foreign direct investment and population growth so as to know the impact of these variables on output. The research findings indicated that high the Okun’s specification does not hold in the Nigeria, the impact of economic growth on unemployment is negative and insignificant. We did however find that there is a positive impact of unemployment on economic growth, meaning that the phenomena of jobless growth may be in play in the economy. The Johansen Co-integration test failed to establish evidence of long run relationship between GDP, industrial output, unemployment, foreign direct investment net foreign assets and population growth. The ECM could not be employed because the variables were integrated of different orders. It was however found there exist a significant positive relationship between the aforementioned variables and GDP except for population growth. The government should consider the Industrial Sector as a priority sector in a bid for better economic growth and development. Population control measures should also be put in play to ensure that the population does not exceed the economic carrying capacity. The government should also play an important role in abating unemployment in the economy using direct and indirect schemes and strategies.

Bankruptcy law challenges the United Arab Emirates

2017 ◽  
Keyword(s):  
United Arab Emirates ◽  
Financial Institutions ◽  
Foreign Investment ◽  
Direct Investment ◽  
Arab Countries ◽  
Bankruptcy Law ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Oil Sector ◽  
The 2008 Financial Crisis

Subject Legislation on insolvency in the United Arab Emirates. Significance The long-awaited federal bankruptcy law came into effect on December 29, three months after its publication. The 2008 financial crisis highlighted the need to adopt comprehensive insolvency legislation, after many debtors fled the country to avoid penal consequences -- including time in prison -- when their businesses crashed. However, despite low oil prices it was not until 2016 that steps to formalise the bankruptcy law were expedited, with the aim of promoting foreign investment and business development. Impacts Foreign direct investment in the non-oil sector will increase. Some financial institutions could be slow to take account of the new legislation. Other Gulf Arab countries may look to the UAE bankruptcy law as a model.

Assessing the Impact of the 2008 Financial Crisis on the Labor Force, Employment, and Wages of Persons with Disabilities in Spain

2018 ◽  
Vol 29 (3) ◽  
pp. 178-188 ◽  
Author(s):  
Marco Garrido-Cumbrera ◽  
Jorge Chacón-García
Keyword(s):  
Financial Crisis ◽  
Labor Force ◽  
Educational Level ◽  
People With Disabilities ◽  
The United States ◽  
Average Wage ◽  
2008 Financial Crisis ◽  
Persons With Disabilities ◽  
The 2008 Financial Crisis ◽  
The Impact

The financial crisis of 2008 has had a greater effect on people with disabilities than on those without disabilities in Spain. In recent years, the number of persons with disabilities registered as part of the labor force and having a higher educational level has increased. However, the unemployment rate among people with disabilities has grown at a faster pace, especially for women and young people. A similar situation has occurred with respect to the annual gross average wage; the gap between those with and without disabilities has increased in the years following the crisis. The present study reveals that Spanish public policies aimed at improving levels of employment for people with disabilities have not achieved the expected results. Here, we explore the possible causes and compare the results with those obtained in the United States.

scholarly journals The impact of Covid-19 on international financial markets: winners and losers

2021 ◽  
Vol 7 (1) ◽  
pp. 53-75
Author(s):  
Gema Orihuel Bañuls
Keyword(s):  
Global Health ◽  
Financial Markets ◽  
World Economy ◽  
Stock Exchange ◽  
Economic Recovery ◽  
Specific Information ◽  
2008 Financial Crisis ◽  
The World ◽  
The 2008 Financial Crisis ◽  
The Impact

The pandemic caused by the SARS-Cov-2 (Covid-19) virus has triggered a worldwide impact on the economy that has been firstly reflected in the financial markets‘ performance. As a consequence of this global health emergency, the world economy is going to deal with its greatest threat since the 2008 Financial Crisis. However, the collapse and recovery of countries and industries are likely to be divergent. This paper aims to provide a global picture of different stock exchange indexes’ progress, including SP 500, Eurostoxx 50, IBEX 35 and CSI 300. In addition, components‘ performance of the Eurostoxx 50 have been analyzed in order to gather more specific information regarding the Covid-19 impact in different industries. Results have revealed that recovery in some of the stock markets are due to large corporation’s resilience and some winning sectors. As a result, the economic recovery is taking the form of a "K".

scholarly journals The impact of IFRS mandatory adoption on KPIs disclosure quality

2021 ◽  
Vol 11 (3) ◽  
pp. 55-66
Author(s):  
Nadia Cheikh Rouhou ◽  
Fatma Wyème Ben Mrad Douagi ◽  
Khaled Hussainey ◽  
Ahmad Alqatan
Keyword(s):  
Financial Crisis ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Disclosure Quality ◽  
2008 Financial Crisis ◽  
Special Events ◽  
Management Commentary ◽  
Mandatory Adoption ◽  
The 2008 Financial Crisis ◽  
The Impact

The aim of this study is to investigate context, the impact of International Financial Reporting Standards (IFRS) on the Key Performance Indicators’ (KPIs) disclosure quality in the United Kingdom (UK). We used the UK listed firms FTSE 350 in the stock exchange market during the pre-IFRS period and the post-IFRS period (2003 to 2004, and 2006 to 2013). In particular, we examine special events such as the emergence of the 2006 UK Accounting Standard Body (ASB) Guidelines for KPIs best practice, the 2010 IFRS Management Commentary, and the phenomenon of the 2008 financial crisis. The results of this paper show that the UK’s mandatory adoption of IFRS has had a positive and significant effect on the KPIs’ disclosure quality. The results demonstrate, also, that together with the emergence of the 2006 UK ASB Guidelines, the 2008 financial crisis, and the 2010 IFRS Management Commentary have had a positive and significant influence on the quantity and quality of the KPIs’ disclosure.

scholarly journals Assessment of foreign direct investment, export and economic growth on the example of Kazakhstan

2016 ◽  
Vol 13 (4) ◽  
pp. 130-135 ◽  
Author(s):  
Tolkyn Azatbek ◽  
Altay Ramazanov
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Regression Analysis ◽  
Direct Investment ◽  
Jel Classification ◽  
Method Of Calculation ◽  
Correlation And Regression Analysis ◽  
Net Exports ◽  
The Republic ◽  
The Impact

The article considers the problem of estimating the communication of foreign direct investment, net exports and economic growth. As an example, the Republic of Kazakhstan is taken. Based on the method of calculation of the gross domestic product (GDP) expenditure and using the method of regression analysis, the impact of foreign direct investment (FDI) and net exports to GDP and interaction of FDI and net exports as components of GDP are evaluated. Keywords: investment, FDI, GDP, net exports, economic growth, correlation and regression analysis. JEL Classification: А10, C20, C35, E22, F37, F43

Electoral Choice—Voter Demand and Party Supply

2018 ◽  
Author(s):  
Russell J. Dalton
Keyword(s):  
Financial Crisis ◽  
2008 Financial Crisis ◽  
Party Positions ◽  
Electoral Choice ◽  
The 2008 Financial Crisis ◽  
European Election ◽  
Voting Decisions ◽  
Election Studies ◽  
The Impact ◽  
Over Time

This chapter examines the impact of the economic and cultural cleavages on Europeans’ voting choices over time. There is a strong and persisting influence of the economic cleavage on voting choices with little change after the 2008 financial crisis. There is also a growing importance of the cultural cleavage. In recent elections, the cultural cleavage outweighs the influence on the economic cleavage. The polarization of party positions on the cultural cleavage increases the influence of this cleavage, but the same pattern is not apparent for the economic cleavage. The salience of each cleavage also affects its weight in voting decisions. European voters and parties have realigned their positions so that both cleavages are now important for electoral choice. The analyses are based on the European Election Studies in 1979, 2009, and 2014.

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