scholarly journals The Regional Impact Transmission via International Trade: An ASIAN-IO Approach

2014 ◽  
Vol 16 (4) ◽  
pp. 315-346
Author(s):  
Ibrahim Ibrahim ◽  
Tri Winarno ◽  
Melva Viva ◽  
Yanfitri Yanfitri
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Value Added ◽  
Input Output ◽  
Asian Countries ◽  
Production Chain ◽  
The Us ◽  
Similar Point ◽  
The Impact

Global financial crisis which began in the US in the latter part of 2008 hit a lot of countries in both trade and finance. In trade aspect, the crisis spread widely; in Indonesia, the total export value in 2009 dropped to 14,3%. Therefore, the economy of China, tightly linked with Asian countries including Indonesia, which rapidly rose before the crisis but slowed after it should be monitored as this condition, could indirectly hold down Indonesia’s GDP. Applying RAS method to update Asian IO data, this research has attempted to describe the trade structure of Asian countries in 2010. Also, it implemented a simulation of the impact of US and China’s GDP decline and US exports on Indonesia’s GDP, both at aggregate and sector levels. The result of the mapping shows that Indonesia is getting more dependent on China. Generally, the link between Indonesia’s exported products and global production chain is weak. Indonesia’s export commodities which are mostly of intermediate goods have low contribution towards value added. Moreover, the result of the simulation shows that 1% decrease in China’s GDP has greater impact on Indonesia’s GDP (0,14%) than that of the US (0,05%) and EU (0,07%) though with similar point.  Keyword: Trade Interactions, Input Output ModelJEL Classification : F16, R15

scholarly journals TRANSMISI DAMPAK MELALUI JARINGAN PERDAGANGAN: PENDEKATAN ASIAN-IO

2014 ◽  
Vol 16 (4) ◽  
pp. 339-372
Author(s):  
Ibrahim Ibrahim ◽  
Tri Winarno ◽  
Melva Viva Grace ◽  
Yan Fitri
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Value Added ◽  
Jel Classification ◽  
Input Output ◽  
Asian Countries ◽  
Production Chain ◽  
The Us ◽  
Similar Point ◽  
The Impact

Global financial crisis which began in the US in the latter part of 2008 hit a lot of countries in both trade and finance. In trade aspect, the crisis spread widely; in Indonesia, the total export value in 2009 dropped to 14,3%. Therefore, the economy of China, tightly linked with Asian countries including Indonesia, which rapidly rose before the crisis but slowed after it should be monitored as this condition, could indirectly hold down Indonesia’s GDP. Applying RAS method to update Asian IO data, this research has attempted to describe the trade structure of Asian countries in 2010. Also, it implemented a simulation of the impact of US and China’s GDP decline and US exports on Indonesia’s GDP, both at aggregate and sector levels. The result of the mapping shows that Indonesia is getting more dependent on China. Generally, the link between Indonesia’s exported products and global production chain is weak. Indonesia’s export commodities which are mostly of intermediate goods have low contribution towards value added. Moreover, the result of the simulation shows that 1% decrease in China’s GDP has greater impact on Indonesia’s GDP (0,14%) than that of the US (0,05%) and EU (0,07%) though with similar point.  Keyword: Trade Interactions, Input Output Model JEL Classification : F16, R15

How the Global Financial Crisis and International Trade Affected Corporate Decisions?

2021 ◽  
pp. 137-157
Author(s):  
Hasan Tekin
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Positive Impact ◽  
Institutional Setting ◽  
Financial Decisions ◽  
Corporate Decisions ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Positive Effect

This chapter, first, draws an overview of the theoretical and conceptual framework of corporate decisions in the global financial crisis (GFC) context. Then, it shows the connectedness of corporate finance and international trade. Finally, employing a rich dataset, this chapter assesses the impact of international trade as well as the GFC on corporate financial decisions, particularly cash holdings, debt financing, and dividend payouts over the period 2002-2016. The findings show that international trade significantly affects corporate decisions. Firms with higher trade countries have higher debt level but lower cash and dividends across the globe. During the GFC, the positive impact of trade on debt shifts to negative. Also, trade has a positive effect on both cash and debt in the aftermath of the GFC. Taken together, international trade as an institutional setting influences corporate decisions and its role on cash, debt, and dividend differ during and after the GFC.

scholarly journals The source of financial contagion and spillovers: An evaluation of the covid-19 pandemic and the global financial crisis

PLoS ONE ◽  
2022 ◽  
Vol 17 (1) ◽  
pp. e0261835
Author(s):  
Samet Gunay ◽  
Gokberk Can
Keyword(s):  
Financial Crisis ◽  
Stock Markets ◽  
Global Financial Crisis ◽  
Financial Contagion ◽  
Test Results ◽  
Developed Economies ◽  
Volatility Spillovers ◽  
The Us ◽  
The Global Financial Crisis ◽  
The Impact

This study investigates the reaction of stock markets to the Covid-19 pandemic and the Global Financial Crisis of 2008 (GFC) and compares their influence in terms of risk exposures. The empirical investigation is conducted using the modified ICSS test, DCC-GARCH, and Diebold-Yilmaz connectedness analysis to examine financial contagion and volatility spillovers. To further reveal the impact of these two crises, the statistical features of tranquil and crisis periods under different time intervals are also compared. The test results show that although the outbreak’s origin was in China, the US stock market is the source of financial contagion and volatility spillovers during the pandemic, just as it was during the GFC. The propagation of shocks is considerably higher between developed economies compared to emerging markets. Additionally, the results show that the COVID-19 pandemic induced a more severe contagious effect and risk transmission than the GFC. The study provides an extensive examination of the COVID-19 pandemic and the GFC in terms of financial contagion and volatility spillovers. The results suggest the presence of strong co-movements of world stock markets with the US equity market, especially in periods of financial turmoil.

scholarly journals Global and Regional Shock Transmission ―Application of Global Input-Output Table―

2021 ◽  
Author(s):  
Nagendra Shrestha ◽  
Kiyotaka Sato
Keyword(s):  
Global Financial Crisis ◽  
Value Added ◽  
Sharp Decrease ◽  
Input Output ◽  
Asian Countries ◽  
Foreign Countries ◽  
Asymmetric Pattern ◽  
Shock Transmission ◽  
Substantial Decline ◽  
The Global Financial Crisis

Abstract This paper constructs and uses the global input-output (GIO) table with 35 industries, 29 endogenous countries and 59 exogenous countries, and develops new indices to measure the degree of shock transmission in terms of intermediate goods and value-added embodied in production induced by negative global demand shock to finished goods. After the Global Financial Crisis (GFC) in 2008, China did not experience a large decline in economic growth, even though China’s gross exports fell most severely among Asian countries. In contrast, a sharp decrease in Japanese GDP in 2009 is a consequence of a substantial decline in finished goods exports, especially in the transport equipment industry. In Japan, the shock effect tends to be absorbed in its domestic sector and is not transmitted to other foreign countries. An asymmetric pattern of shock transmission between Japan and other Asian countries can explain why Japan was more affected by GFC than other Asian countries.

scholarly journals SME ACCESS TO FINANCE AND THE GLOBAL FINANCIAL CRISIS

2020 ◽  
Vol 08 (01) ◽  
pp. 2040003
Author(s):  
GREGORY F. UDELL
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Credit Crunch ◽  
Access To Finance ◽  
Policy Initiatives ◽  
The Us ◽  
Key Policy ◽  
The Global Financial Crisis ◽  
The Impact ◽  
The Empirical Analysis

This paper offers an overview of research on SME access to finance during the Global Financial Crisis (GFC) in order to cull key things that we have learned. It discusses selected articles that peg the frontier of knowledge on this topic in both European and American contexts. It highlights differences between these two areas in terms of how the crisis unfolded. It also identifies key differences in the availability of data between Europe and the US that shape the nature of the empirical analysis of the attendant credit crunch. Selected research on both the nature and magnitude of the impact of the credit crunch on the SME sector are discussed. Research on some key policy initiatives to mitigate the crisis’ damage in Europe and in the US are also discussed. The paper concludes with some comments on how research on the GFC might inform research on SME access to finance during the unfolding COVID-19 crisis.

AN EMPIRICAL STUDY OF INDIAN INSURANCE INDUSTRY POST GLOBAL FINANCIAL CRISIS

2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Insurance Industry ◽  
Primary Data ◽  
Policy Recommendations ◽  
Insurance Sector ◽  
The World ◽  
The Impact ◽  
The New Deal

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.

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