scholarly journals Ricardian Equivalence: Evidence From South American Countries

2011 ◽  
Vol 2 (10) ◽  
Author(s):  
Khan A. Mohabbat ◽  
Mohammad Ashraf
Keyword(s):  
Time Horizon ◽  
Ricardian Equivalence ◽  
South American ◽  
National Debt ◽  
Government Bonds ◽  
Economic Agents ◽  
Government Deficit ◽  
Intergenerational Effect ◽  
The Government ◽  
To Come

This study deals with the intergenerational effect of national debt. We try to find out whether the government deficit incurred today has any adverse effect on the generations to come. More specifically, this study tests the notion that any deficit acquired by the government today is offset by the private sector by reducing their consumption and increasing their savings to pay for the debt some times in the future. Since the time horizon for the government is longer than that of the private agents, the private agents altruistically bequeath what they have saved along with interest earned to their offsprings. This study empirically verifies the debt neutrality hypothesis for several South American countries for which workable data were available. The results do not support the debt neutrality hypothesis and show that economic agents consider government bonds net wealth affecting their consumption in a positive way.

Greece’s Syriza may lose 2019 vote to come back later

2019 ◽  
Keyword(s):  
Interest Rates ◽  
Opinion Poll ◽  
National Elections ◽  
Government Bonds ◽  
Content Type ◽  
Pension Reforms ◽  
International Investors ◽  
The Government ◽  
To Come ◽  
New Democracy

Significance The minority Syriza government has declared its intention to row back from tax and pension reforms to regain popularity ahead of the upcoming polls and the autumn national elections. Since its rushed-out programme, the 11-percentage-point opinion poll lead that opposition New Democracy (ND) had built up has nearly halved, but Syriza has angered its international creditors, who see it as having reneged on post-bailout commitments. Impacts EU partners could revoke debt repayment concessions forcing the government to call on reserves. Interest rates on government bonds will rise as international investors fear a return to fiscal uncertainty. The electorate could turn from Syriza over the longer term, because of its repeated policy U-turns.

scholarly journals Fiscal Policy in Europe: Controversies over Rules, Mutual Insurance, and Centralization

2021 ◽  
Vol 35 (2) ◽  
pp. 77-100
Author(s):  
Florin Bilbiie ◽  
Tommaso Monacelli ◽  
Roberto Perotti
Keyword(s):  
Fiscal Policy ◽  
Risk Sharing ◽  
Current Debate ◽  
Stabilization Policy ◽  
Mutual Insurance ◽  
Government Deficit ◽  
The Government ◽  
To Come ◽  
Early Discussion ◽  
Country Specific

We discuss the main fiscal policy issues in Europe, focusing on two that are at the core of the current debate. The first is that the government deficit and debt were, from the outset, the key objects of contention in the debate that led to the creation of the Eurozone, and they still are. The second issue is that a currency union implies the loss of a country-specific instrument, a national monetary policy. This puts a higher burden on fiscal policy as a tool to counteract shocks, a burden that might be even heavier now that the European Central Bank has arguably reached the Zero Lower Bound. Two obvious solutions are mutual insurance (or risk-sharing) amongst countries and a centralized stabilization policy. Yet both have been remarkably difficult to come by, especially due to political constraints. We review and discuss the relative merits of several proposals for increased insurance or centralization, or both. We conclude with an early discussion of the implications of the COVID-19 crisis for European fiscal policy reform and an assessment of the current fiscal measures.

scholarly journals The Innovation of Government Bonds in the Growth of an Emergent Capital Market

2021 ◽  
Vol 7 (1) ◽  
pp. 103
Author(s):  
Cordelia Onyinyechi Omodero ◽  
Philip Olasupo Alege
Keyword(s):  
Capital Market ◽  
Research Work ◽  
Government Bonds ◽  
Market Capitalization ◽  
Market Growth ◽  
Explanatory Variables ◽  
The Government ◽  
The Impact ◽  
Total Market ◽  
The Capital Market

The growth of an emerging capital market is necessary and requires all available resources and inputs from various sources to realize this objective. Several debates on government bonds’ contribution to Nigeria’s capital market developmental growth have ensued but have not triggered comprehensive studies in this area. The present research work seeks to close the breach by probing the impact of government bonds on developing the capital market in Nigeria from 2003–2019. We employ total market capitalization as the response variable to proxy the capital market, while various government bonds serve as the independent variables. The inflation rate moderates the predictor components. The research uses multiple regression technique to assess the explanatory variables’ impact on the total market capitalization. At the same time, diagnostic tests help guarantee the normality of the regression model’s data distribution and appropriateness. The findings reveal that the Federal Government of Nigeria’s (FGN) bond is statistically significant and positive in influencing Nigeria’s capital market growth. The other predictor variables are not found significant in this study. The study suggests that the Government should improve on the government bonds’ coupon, while still upholding the none default norm in paying interest and refunding principal to investors when due.

scholarly journals Impact of strategic management, corporate social responsibility on firm performance in the post mandate period: evidence from India

2021 ◽  
Vol 6 (1) ◽  
Author(s):  
Nayan Mitra
Keyword(s):  
Corporate Social Responsibility ◽  
Firm Performance ◽  
Social Responsibility ◽  
Strategic Management ◽  
Emerging Economies ◽  
Brand Building ◽  
The Government ◽  
To Come ◽  
Key Aspects ◽  
Corporate Social

AbstractCorporate Social Responsibility (CSR) is like a chameleon, that changes its colour according to the context it is in. In the developed economy, it takes the form of sustainability and/ or philanthropy, whereas, in emerging economies, it speaks the language of religious, political and/ or mandated CSR. India, in recent times came into the limelight with its mandated CSR policy that was incorporated into its Companies Act 2013, which became operational from the financial year 2014 - 2015. Mandated CSR is thus a new area of study that is based on the philosophy that ‘CSR should contribute to the national agenda in emerging economies,’ under some statutory guidelines as laid down by the Government.But, business houses, do look for maximising its profit. Profit can be financial and/ or non-financial. If not money, then at least the effort must be compensated with reputation, image, that helps in brand building! And, to have this as an objective, their efforts should be strategic! But, does all strategies work? With these questions and conceptual thinking, this empirical research aims to identify the key aspects of Strategic Management, CSR and Firm Performance and establish relationship between them; apart from developing a valid and reliable scale to do so. This is indeed one of the first researches and documentations done among the large Indian firms in India immediately in the post mandate period and thus forms a base for understanding the CSR dynamics in the years to come.

scholarly journals A War of (Mis)Information: The Political Effects of Rumors and Rumor Rebuttals in an Authoritarian Country

2015 ◽  
Vol 47 (2) ◽  
pp. 283-311 ◽  
Author(s):  
Haifeng Huang
Keyword(s):  
Political Trust ◽  
Political Support ◽  
Specific Content ◽  
Experimental Procedure ◽  
Authoritarian State ◽  
Internet Users ◽  
Political Effects ◽  
Information Politics ◽  
The Government ◽  
To Come

Despite the prevalence of anti-government rumors in authoritarian countries, little is currently known about their effects on citizens’ attitudes toward the government, and whether the authorities can effectively combat rumors. With an experimental procedure embedded in two surveys about Chinese internet users’ information exposure, this study finds that rumors decrease citizens’ trust in the government and support of the regime. Moreover, individuals from diverse socio-economic and political backgrounds are similarly susceptible to thinly evidenced rumors. Rebuttals generally reduce people’s belief in the specific content of rumors, but often do not recover political trust unless the government brings forth solid and vivid evidence to back its refutation or win the endorsement of public figures broadly perceived to be independent. But because such high-quality and strong rebuttals are hard to come by, rumors will erode political support in an authoritarian state. These findings have rich implications for studies of rumors and misinformation in general, and authoritarian information politics in particular.

Malaysian AIDS Council: The “PutItOn” Campaign

2019 ◽  
Vol 23 (01) ◽  
pp. 1-37
Author(s):  
Li Lin Lau ◽  
Farzana Quoquab ◽  
Abu Bakar Abdul Hamid
Keyword(s):  
Condom Use ◽  
Sexual Transmission ◽  
The Other ◽  
Intervention Programs ◽  
Cultural Issues ◽  
Promotional Strategy ◽  
The Social ◽  
Sociocultural Pressure ◽  
The Government ◽  
To Come

This case illustrates the issues pertaining to the “PutItOn” campaign promotion launched by the Malaysian AIDS Council (MAC). This case primarily discusses the social marketing challenges encountered by MAC with the task to promote intervention programs on condom use and women’s safe sex practices to influence social change. However, promoting condom use is regarded as taboo and is not allowed to be mentioned in Malaysian mainstream mass media because of restrictions by the Communications and Multimedia Act. The government also cannot openly advocate condom use because of sociocultural sensitivity. In addition, some people might misinterpret promoting condom use as encouraging promiscuity. On the other hand, official statistics show that new HIV cases have shifted the trend from men to women in recent years, and the major factor for women infected by HIV was through sexual transmission. Dr. Suzi, communication manager of MAC, is in charge of the “PutItOn” campaign. She faced difficulty in increasing awareness among women about the campaign with the consideration of social and cultural issues. The campaign was launched in December 2014, but not many people seemed aware of this campaign after four months of its launch. The chairman of MAF, Dr. Roselina, advised her to come up with an effective promotional strategy for the “PutItOn” campaign by April. Dr. Suzi had only one month to devise a plan to solve the problem; otherwise, MAC has to close the campaign. Dr. Suzi was worried about the sociocultural pressure to promote the “PutItOn” campaign.

scholarly journals PLASTIC MONEY: PROSPECTIVE AND CHALLENGES

2020 ◽  
Vol 5 (2) ◽  
pp. 117-125
Author(s):  
Bhawna Mukaria
Keyword(s):  
Developed Countries ◽  
Smart Phones ◽  
Future Prospects ◽  
Electronic Money ◽  
Electronic Payments ◽  
Building Recognition ◽  
Technology Applications ◽  
The Government ◽  
To Come ◽  
Debit Cards

In present era, it is impossible to imagine modern bank transactions, commercial transactions and other payments without using the plastic cards. Plastic currency is now gradually becoming a necessity across the globe as more and more developed countries are opting for plastic compared to paper as there are several inherent advantages. The growing involvement of smart phones has made technology applications much more accessible to users. The Government also move forward for a “Digital India” and its focus on growing electronic payments is significant drivers of growth in replacing physical payments with technologybacked solutions. India is at the stage of an amazing shift towards electronic money from traditional cash. For instance the Pradhan Mantri Jan Dhan Yojana (PMJDY), is slowly building recognition among people to move from paper to electronic money. The PMJDY alone has seeded over 150 million Rupay cards in the last year, in addition to the 400 million debit cards already in circulation. There is still emergence for significant increase in the usage of debit cards in the years to come as card. This paper focus on the challenges and future prospects of plastic money in India.

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