Impact of Global Financial Crisis on Indian Handicrafts Exports: A Breakpoint Analysis

2020 ◽  
pp. 097215092095461
Author(s):  
Imtinungsang Jamir
Keyword(s):  
Structural Changes ◽  
Global Financial Crisis ◽  
Global Market ◽  
Economic Downturn ◽  
Major Contributor ◽  
Trade Data ◽  
Government Interventions ◽  
Focal Attention ◽  
The Subject ◽  
Breakpoint Analysis

After the global economic downturn in 2007–2008, India’s export of principal commodities such as ores and minerals, engineering goods, projects goods and handicrafts products showed insignificant growth rate. The handicrafts sector has been given focal attention in the study due to its worrying insignificant growth and to exploit opportunities for exporters in the global market. This article, in an attempt to examine structural changes in exports of handicrafts product, performed the Chow breakpoint test by setting a break-up year to see if there has been a break in demand. This study contemplates and reflects how Indian handicrafts sector has surpassed its reputation among the diverse consumers in the global market after the global economic crisis and how government interventions have liberated the sector from middling growth to become a major contributor to world consumption. To make the subject more content and lucid to understand, this study has thoroughly accrued, reviewed and analysed several reports and trade data, and it culminates with some policy implication and suggestions to policymakers and entrepreneurs.

EXPLORING THE INTERNAL STRENGTHS AND WEAKNESSES OF THE ORGANIZATION

2018 ◽  
Vol 28 (1) ◽  
pp. 73-78
Author(s):  
Venelin Terziev ◽  
Marin Georgiev
Keyword(s):  
20Th Century ◽  
Structural Changes ◽  
Cumulative Effect ◽  
Professional Culture ◽  
Social Revolution ◽  
Modern Times ◽  
The World ◽  
History Of ◽  
Scientific Technical ◽  
The Subject

The subject of this article is the genesis of the professional culture of personnel management. The last decades of the 20th century were marked by various revolutions - scientific, technical, democratic, informational, sexual, etc. Their cumulative effect has been mostly reflected in the professional revolution that shapes the professional society around the world. This social revolution has global consequences. In addition to its extensive parameters, it also has intensive ones related to the deeply-rooted structural changes in the ways of working and thinking, as well as in the forms of its social organization. The professional revolutions in the history of Modern Times stem from this theory.Employees’ awareness and accountability shall be strengthened. The leader must be able to formulate and bring closer to the employees the vision of the organization and its future goal, to which all shall aspire. He should pay attention not to the "letter" but to the "spirit" of this approach.

scholarly journals Indigenous Water Rights in Comparative Law

2020 ◽  
Vol 9 (3) ◽  
pp. 393-402
Author(s):  
Elizabeth Macpherson
Keyword(s):  
Human Population ◽  
Global Financial Crisis ◽  
Water Rights ◽  
The United States ◽  
Wall Street ◽  
Award Winning ◽  
The Subject ◽  
Academy Award ◽  
Increasing Demand ◽  
Poor Management

At the end of the 2015 Academy Award-winning film The Big Short, which explores the origins of the 2008 Global Financial Crisis, a caption notes that the Wall Street investor protagonist of the film who predicted the collapse of the United States (US) housing market would now be ‘focused on one commodity: water’. Water is sometimes described in popular culture as ‘the new oil’ or ‘more valuable than gold’. It is predicted to be the subject of increasing uncertainty, competition, conflict, and even war, as increasing demand from a growing human population and development meets reduced supply as a result of poor management, overuse, and climate change.

scholarly journals Sugar Prices vs. Financial Market Uncertainty in the Time of Crisis: Does COVID-19 Induce Structural Changes in the Relationship?

Agriculture ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 93
Author(s):  
Pavel Kotyza ◽  
Katarzyna Czech ◽  
Michał Wielechowski ◽  
Luboš Smutka ◽  
Petr Procházka
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Financial Market ◽  
Structural Breaks ◽  
Structural Changes ◽  
Global Financial Crisis ◽  
Market Uncertainty ◽  
Volatility Index ◽  
The Global Financial Crisis ◽  
The Relationship

Securitization of the agricultural commodity market has accelerated since the beginning of the 21st century, particularly in the times of financial market uncertainty and crisis. Sugar belongs to the group of important agricultural commodities. The global financial crisis and the COVID-19 pandemic has caused a substantial increase in the stock market volatility. Moreover, the novel coronavirus hit both the sugar market’s supply and demand side, resulting in sugar stock changes. The paper aims to assess potential structural changes in the relationship between sugar prices and the financial market uncertainty in a crisis time. In more detail, using sequential Bai–Perron tests for structural breaks, we check whether the global financial crisis and the COVID-19 pandemic have induced structural breaks in that relationship. Sugar prices are represented by the S&P GSCI Sugar Index, while the S&P 500 option-implied volatility index (VIX) is used to show stock market uncertainty. To investigate the changes in the relationship between sugar prices and stock market uncertainty, a regression model with a sequential Bai–Perron test for structural breaks is applied for the daily data from 2000–2020. We reveal the existence of two structural breaks in the analysed relationship. The first breakpoint was linked to the global financial crisis outbreak, and the second occurred in December 2011. Surprisingly, the COVID-19 pandemic has not induced the statistically significant structural change. Based on the regression model with Bai–Perron structural changes, we show that from 2000 until the beginning of the global financial crisis, the relationship between the sugar prices and the financial market uncertainty was insignificant. The global financial crisis led to a structural change in the relationship. Since August 2008, we observe a significant and negative relationship between the S&P GSCI Sugar Index and the S&P 500 option-implied volatility index (VIX). Sensitivity analysis conducted for the different financial market uncertainty measures, i.e., the S&P 500 Realized Volatility Index confirms our findings.

INFLATION TARGETING: IT'S NOT BROKE, IT DOESN'T NEED FIXING, BUT CAN IT SURVIVE?

2010 ◽  
Vol 01 (01) ◽  
pp. 59-80
Author(s):  
PIERRE L. SIKLOS
Keyword(s):  
Monetary Policy ◽  
Inflation Targeting ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Asset Price ◽  
Central Banks ◽  
Economic Downturn ◽  
Price Increases ◽  
The Global Financial Crisis ◽  
Nominal Anchor

Until the end of 2005 there were few outward signs that the inflation targeting (IT) monetary policy strategy was deemed fragile or that the likelihood of abandoning it was high. In light of the severe economic downturn and the global financial crisis that has afflicted most economies around the world since at least 2008, it is worth reconsidering the question of the fragility of the inflation targeting regime. This paper reprises the approach followed in Siklos (2008) but adds important new twists. For example, the present study asks whether the continued survival of IT is due to the fact that some of the central banks in question did take account of changes in financial stress. The answer is no. Indeed, many central banks are seen as enablers of rapid asset price increases. The lesson, however, is not that inflation targeting needs to be repaired. Instead, refinements should be considered to the existing inflation targeting strategy which has evolved considerably since it was first introduced in New Zealand 20 years ago. Most notably, there should be continued emphasis on inflation as the primary nominal anchor of monetary policy, especially in emerging market economies (EME), even if additional duties are assigned to central banks in response to recent events.

The Lived Experience of Financialization at the UK Financial Fringe

2021 ◽  
pp. 1-22
Author(s):  
LINDSEY APPLEYARD ◽  
CARL PACKMAN ◽  
JORDON LAZELL ◽  
HUSSAN ASLAM
Keyword(s):  
Lived Experience ◽  
Financial Services ◽  
Global Financial Crisis ◽  
Credit Market ◽  
Short Term ◽  
Dramatic Decline ◽  
The Everyday ◽  
The Subject ◽  
The Uk ◽  
The Impact

Abstract The financialization of everyday life has received considerable attention since the 2008 global financial crisis. Financialization is thought to have created active financial subjects through the ability to participate in mainstream financial services. While the lived experience of these mainstream financial subjects has been the subject of close scrutiny, the experiences of financial subjects at the financial fringe have been rarely considered. In the UK, for example, the introduction of High-Cost, Short-Term Credit [HCSTC] or payday loan regulation was designed to protect vulnerable people from accessing unaffordable credit. Exploring the impact of HCSTC regulation is important due to the dramatic decline of the high-cost credit market which helped meet essential needs in an era of austerity. As such, the paper examines the impact of the HCSTC regulation on sixty-four financially marginalized individuals in the UK that are unable to access payday loans. First, we identify the range of socioeconomic strategies that individuals employ to manage their finances to create a typology of financial subjectivity at the financial fringe. Second, we demonstrate how the temporal and precarious nature of financial inclusion at the financial fringe adds nuance to existing debates of the everyday lived experience of financialization.

Analysis of the russian market of mergers and acquisitions

2020 ◽  
pp. 58-63
Author(s):  
R. O. Voskanian
Keyword(s):  
Mergers And Acquisitions ◽  
Negative Impact ◽  
Global Market ◽  
Economic Situation ◽  
Russian Market ◽  
Russian Economy ◽  
Current Economic Situation ◽  
The Subject ◽  
Linear Decline

The subject of the research is the Russian market of mergers and acquisitions in the period from 2009 to 2019. The author has examined the economic essence of mergers and acquisitions, analysed the number of transactions of both types on the Russian market. The article analyses foreign participation in the Russian market of mergers and acquisitions reveals a tendency to its linear decline from 2011 to the present. Also were identified three sectors of the Russian economy leaders in the number of target companies (banks, agriculture, transport and infrastructure). A conclusion has been formulated on the negative impact of the current economic situation on the Russian and global market for mergers and acquisitions, suggesting a decrease in the number and amount of mergers and acquisitions in the coming years.

scholarly journals Clarifying the Response of Gold Return to Financial Indicators: An Empirical Comparative Analysis Using Ordinary Least Squares, Robust and Quantile Regressions

2019 ◽  
Vol 12 (1) ◽  
pp. 33 ◽  
Author(s):  
Takashi Miyazaki
Keyword(s):  
Stock Returns ◽  
Structural Changes ◽  
Global Financial Crisis ◽  
Ordinary Least Squares ◽  
Stock Market Volatility ◽  
Financial Indicators ◽  
Sample Period ◽  
Flight To Quality ◽  
Crude Oil Prices ◽  
The Global Financial Crisis

In this study, I apply a quantile regression model to investigate how gold returns respond to changes in various financial indicators. The model quantifies the asymmetric response of gold return in the tails of the distribution based on weekly data over the past 30 years. I conducted a statistical test that allows for multiple structural changes and find that the relationship between gold return and some key financial indicators changed three times throughout the sample period. According to my empirical analysis of the whole sample period, I find that: (1) the gold return rises significantly if stock returns fall sharply; (2) it rises as the stock market volatility increases; (3) it also rises when general financial market conditions tighten; (4) gold and crude oil prices generally move toward the same direction; and (5) gold and the US dollar have an almost constant negative correlation. Looking at each sample period, (1) and (2) are remarkable in the period covering the global financial crisis (GFC), suggesting that investors divested from stocks as a risky asset. On the other hand, (3) is a phenomenon observed during the sample period after the GFC, suggesting that it reflects investors’ behavior of flight to quality.

scholarly journals The role of the state in creating green economy

2016 ◽  
Vol 7 (2) ◽  
pp. 207 ◽  
Author(s):  
Paulina Szyja
Keyword(s):  
Structural Changes ◽  
Global Scale ◽  
The State ◽  
Green Economy ◽  
Economic Downturn ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Is Implementation ◽  
Role Of The State

Since the crisis of the real economy in 2008, an intense discussion about the need for changes in the economy, supported by a number of declarations on the global scale, has been developed. The analysis of the causes and effects of the economic downturn and the challenges of the future have had a huge impact on this state of affairs. As a result, some states have taken action to remedy the situation. Many of them were aimed at structural changes in production, consumption and environmentally friendly investment. At the same time, the concept of "low carbon economy" and "green economy" gained importance. The aim of this paper is to present the role of the state in the economy in terms of creating conditions for a green economy. The thesis of the publication is: implementation of structural changes related with creating a green economy requires involvement of the state.

scholarly journals Foreign Capital in Poland During Recession

2015 ◽  
Vol 16 (2) ◽  
pp. 45-59
Author(s):  
Mirosław Wypych
Keyword(s):  
Foreign Capital ◽  
Global Financial Crisis ◽  
Economic Downturn ◽  
The European Union ◽  
System Transformation ◽  
Foreign Investors ◽  
Scientific Hypothesis ◽  
National Bank ◽  
The Global Financial Crisis ◽  
Parent Companies

AbstractThe system transformation which started in the last decade of the previous century and the accompanying transition into market oriented economy have contributed to the increase of foreign investors’ interest in committing their capital in Poland. The interest grew even more after Poland joined the European Union. With limited national financial resources and great demand for the same, foreign investment has been a desirable factor supporting and accelerating economic growth.The objective of this paper is to evaluate the changes in the level and structure of foreign capital in Poland in the years 2008–2013, that is during the period of economic downturn following the global financial crisis. The point is, first of all, to find an answer to the following question: to what extent has the economic destabilisation caused by the crisis influenced the decisions of foreign investors concerning investing their capital in Poland? This allows to verify the following scientific hypothesis: during crisis stability of the financial system of the country in which parent companies have their seats is more important for foreign investors than financial security of the host country. The analysis covers total foreign capital, that is both direct and portfolio investment, as well as derivatives and credit facilities. The empirical part of the study has been based on the information published by the National Bank of Poland.

scholarly journals Problems and Prospects for the Development of the UK Banking System in the Process of New Industrialization and Digitalization

2021 ◽  
Vol 93 ◽  
pp. 05017
Author(s):  
Olga Sokolova ◽  
Nadezhda Goncharova ◽  
Pavel Letov
Keyword(s):  
Capital Market ◽  
Global Financial Crisis ◽  
Banking System ◽  
The European Union ◽  
Important Trend ◽  
The Subject ◽  
The Global Financial Crisis ◽  
The Uk ◽  
High Degree ◽  
New Industrialization

The gist of this article boils down to the development of British banking system in the conditions of new industrialization and digitalization. The banking system of Great Britain is characterized by a high degree of concentration and specialization of banking, a well-developed banking infrastructure, and a close connection with the international loan capital market. London is the world's oldest financial center. The English banking system has the world's widest network of overseas branches. The UK banking system is relatively independent from the credit systems of the European Union. Nevertheless, banking legislation is focused on the unification of banking law within the European Community and supervision of banking activities. In the context of the global financial crisis, the UK banking system, as in other countries, has been severely tested. The most important trend in the development of the UK banking system is the blurring of boundaries between certain types of credit institutions. The subject of the research is the UK banking system in the context of new industrialization and digitalization.

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