scholarly journals The Depth of the Financial System: A Comparison of Developed and Less Developed Countries

2020 ◽  
Vol 4 (4) ◽  
pp. 109-118
Author(s):  
Halil D. Kaya
Keyword(s):  
Central Bank ◽  
Low Income ◽  
Financial System ◽  
Income Level ◽  
High Income ◽  
The Other ◽  
Financial Systems ◽  
Other Hand ◽  
Two Measures ◽  
The Impact

This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of how countries’ income levels are related to the depth of their financial system. The main purpose of the research is to determine whether high-income countries have deeper financial systems when compared to other countries. We also examine whether high-income OECD member countries have a deeper financial system when compared to high-income non-OECD member countries. Our contribution is threefold: First, our study has a wider scope than most of the previous studies (i.e. 203 countries in total). Second, we examine both the impact of OECD membership and the actual income level on “depth”. The OECD members and the non-members differ in terms of their cultures, their resources, and their infrastructure, therefore we expect differences between their financial systems. Third, our study goes deeper than most of the previous studies (i.e. we examine twenty different variables on “depth”). The examination of several variables on “depth” allows us to see the dimensions in which one group of countries perform better than the other group. While one group can perform better in certain dimensions of “depth”, the other group can perform better in other dimensions of “depth”. In our empirical analyses, we find that high-income countries tend to have a deeper financial system (in all measures except for “Central bank assets to GDP (%)”) when compared to other countries. When we compare high-income OECD-member countries to high-income non-OECD-member countries, we find that OECD-member countries tend to have a deeper financial system (in most measures). Interestingly, with respect to the two measures, non-OECD-member countries have better “depth” measures. These two measures are “Stock market total value traded to GDP (%)” and “Gross portfolio debt assets to GDP (%)”. Overall, our results indicate that when an economic or financial crisis is expected, middle and low-income countries will be more vulnerable when compared to high-income countries, because in most aspects, their markets are not as deep. On the other hand, high-income countries will be more vulnerable if their Central bank needs to use their assets to protect their system. Similarly, non-OECD members will be more vulnerable when compared to OECD-member countries, because in most aspects, their markets are not as deep. On the other hand, OECD-member countries are weaker with regard to the depth of their stock markets and the number of debt securities held in investment portfolios. Therefore, we can conclude that a country’s income level and OECD-membership should help determine the precautions that policymakers need to take if a crisis is on the horizon. Keywords: depth, financial system, OECD, income level.

scholarly journals Relationships’ Among Dietary Habits, Economic Status and Type 2 Diabetes Risk on Turkish Female University Students Living with Their Families or in the Dormitory

2020 ◽  
Vol 4 (Supplement_2) ◽  
pp. 1348-1348
Author(s):  
Angelos Sikalidis ◽  
Çağla Pınarlı
Keyword(s):  
Type 2 Diabetes ◽  
University Students ◽  
Low Income ◽  
Significant Relationship ◽  
Dietary Habits ◽  
Income Level ◽  
High Income ◽  
Diabetes Risk ◽  
The Other

Abstract Objectives This study aimed to investigate relationships between dietary habits, income levels and type 2 diabetes mellitus (T2DM) risk in Turkish female university students who are living with their family or in the dormitory. Methods This work was a cross-sectional study conducted during December 2017 – February 2018 in Istanbul Yeni Yuzyil University. A survey was applied on 127 female students of which 60 were living with their family and 40 in dormitory. Income level was determined based on TURKSTAT 2015 percentiles. T2DM risk was determined using the Finnish Diabetes Association Type 2 Diabetes Risk Assessment Form. Food frequency questionnaire and 24-hour dietary recall results were analysed by specially developed for Turkey diet analysis software Beslenme Bilgi Sistemi (BeBiS). Data were statistically analysed with SPSS for Windows 20.0. Results Our results show university students do not have adequate and balanced nutrition in general. On the other hand, students who are living with their family have more better nutritional results than students who are live in dormitory (P < 0.05). According to income level, in most cases students in high income have more better results about diet quality than students in low income (P < 0.05). Students in high income have less type 2 diabetes risk comparing to students in low income (P < 0.05). There is not a significant relationship between income level and type 2 diabetes risk in students who are living with their family. On the other hand, students who are living in dormitory have significant relationship between income level and type 2 diabetes risk (P < 0.05). Conclusions There is a significant relationship between income level, dietary habits and type 2 diabetes risk in most cases. University students should take education about healthy nutrition. Our work demonstrates that students who are living in dormitory need more training programs. Students who are in more risk about type 2 diabetes should take education about protection from type 2 diabetes. Funding Sources Endowment Fund for Research in Health Sciences, of Istanbul Yeni Yuzyil University project code: SBF-120,705,051-2017; grant.

scholarly journals Effects of a bank consolidation promotion policy: evaluating the 1927 Bank Law in Japan

2007 ◽  
Vol 14 (1) ◽  
pp. 29-61 ◽  
Author(s):  
Tetsuji Okazaki ◽  
Michiru Sawada
Keyword(s):  
Government Policy ◽  
Financial System ◽  
The Other ◽  
Promotion Policy ◽  
Other Hand ◽  
Negative Effect ◽  
Ministry Of Finance ◽  
Using Data ◽  
The Impact ◽  
Positive Effect

This article investigates the impact of bank consolidations promoted by government policy, using data from pre-war Japan when the Ministry of Finance promoted bank consolidations through the Bank Law of 1927. We argue that policy-promoted consolidation had a positive effect on deposit growth, especially in the period when the financial system was unstable. On the other hand, it had a negative effect on profitability, particularly when there was no dominant bank among the participants or when more than two banks participated in the consolidation. Policy-promoted consolidation in such cases was likely to be accompanied by large organisational cost.

The Mechanism of Financial System

2020 ◽  
pp. 1-22
Keyword(s):  
Financial System ◽  
General Information ◽  
The Other ◽  
Final Part ◽  
Financial Instruments ◽  
Financial Systems ◽  
Other Hand ◽  
Interest Income ◽  
Economic Improvement

Financial systems bring fund demanders and fund suppliers together. Therefore, with the help of these systems, fund suppliers can earn interest income by using their savings. On the other hand, fund demanders can find money they need so that they can make their investments more easily. Since the investment increase leads to higher GDP, it can be said that effective financial systems make an important contribution to the economic improvement of the countries. Therefore, to provide recommendations to have more effective financial systems, the mechanism of the financial system should be understood appropriately. Hence, in this chapter, firstly, general information about the financial system is given. After that, different fund demanders and suppliers are explained. In the final part, financial instruments are identified.

scholarly journals The Efficiency of the Financial System: A Comparison of Developed and Less Developed Countries

2020 ◽  
Vol 4 (2) ◽  
pp. 16-24
Author(s):  
Halil Dincer Kaya
Keyword(s):  
Low Income ◽  
Financial System ◽  
Developed Countries ◽  
Oecd Countries ◽  
High Income ◽  
The Other ◽  
Low Income Countries ◽  
Middle Income ◽  
Income Ratio ◽  
Developed Nations

In this study, our objective is to find whether high-income countries have a more efficient financial system when compared to middle- and low-income countries. We expect high-income countries to have a better, more efficient financial system when compared to other countries. Our second objective is to find whether high-income OECD countries have a more efficient financial system when compared to high-income non-OECD countries. Most OECD countries are seen as developed nations with a very high Human Development Index, while the same cannot be said for some other high-income countries that are not members of OECD (i.e. Saudi Arabia for example). Do these developed nations have a better, more efficient financial system compared to the other high-income nations that are not classified as developed? We expect to find developed nations to have a better, more efficient financial system when compared to non-OECD countries. We examine eight measures of efficiency. These are “net interest margin”, lending-deposit spread”, non-interest income to total income”, “overhead costs to total assets”, “return on assets”, “cost to income ratio”, “credit to government and state-owned enterprises to GDP”, and “stock market turnover ratio”. When we compare the high-income countries to the “middle-income” and “low-income” countries, we find that with respect to six measures, the high-income countries have better “efficiency” values than the other countries. With regard to the “cost to income ratio”, the two groups are not significantly different. Interestingly, with respect to “credit to government and state-owned enterprises to GDP (%)”, we find unexpected results. Contrary to our expectation, we find that, in the high-income countries, financial institutions lend more money to the government and state-owned enterprises when compared to the low- and middle-income countries. When we compare the high-income OECD-member countries to the high-income Non-OECD-member countries, we find that with respect to five measures, the high-income OECD countries have better “efficiency” values than the high-income Non-OECD countries. With respect to three measures, the two groups are not significantly different. Overall, our results indicate that although high-income countries generally have a more efficient financial system, in terms of certain measures (i.e. cost to income ratio and credit to government and state-owned enterprises), they are not doing well. Keywords: efficiency, financial system, OECD, developed countries.

The ECB's policy under the presidency of Mario Draghi: a curse or a blessing for Europe?

2020 ◽  
Vol 17 (2) ◽  
pp. 171-182
Author(s):  
Peter Bofinger
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
European Central Bank ◽  
Early Stage ◽  
Financial System ◽  
The Other ◽  
European Central ◽  
Other Hand ◽  
Threatening Situation

The paper discusses the monetary policy of the European Central Bank (ECB) under the presidency of Mario Draghi. It first shows the serious mistakes made under his predecessor, Jean-Claude Trichet, during which period the ECB destabilized rather than stabilized. Draghi, on the other hand, embarked on a more expansive course immediately after taking office, thereby securing the existence of the euro in a very threatening situation. In 2014, he then identified the deflationary risks for the eurozone at an early stage and successfully countered them with massive bond purchases. The undesirable developments for the financial system and especially the banks predicted by his critics, who are to be found primarily among German economists, have not materialized.

SCENARIOS FOR AN EXPANDING DEMAND OF TOURISM ON THE COASTS OF CUBA

2017 ◽  
Author(s):  
Oscar Gutiérrez-Bolívar ◽  
Oscar Gutiérrez-Bolívar ◽  
Pedro Fernández Carrasco ◽  
Pedro Fernández Carrasco
Keyword(s):  
United States ◽  
The Other ◽  
Sudden Increase ◽  
Tourist Destination ◽  
Other Hand ◽  
The Usa ◽  
The Impact

The opening of relationships between United States and Cuba could be a drive for a huge increase in the affluence of tourism to Cuba and especially to the coast areas. Cuba has been for many years an important tourist destination for people from many countries, but almost forbidden for US citizens. The proximity of the USA, its amount of population as well as their great acquisition power will increase in a very substantial way the demand for accommodation and other uses in the proximity of the coasts. There will be a need to implement a package of measures that reduce the impact of such sudden increase in the coastal line. On the other hand that augment in tourism could be an opportunity to improve the standard of life of Cubans. The consideration of different possibilities of such development, the analysis of the damages that each one could cause as well as the measures that could avoid, ameliorate or compensate such effects are the goals that are going to be presented in this paper.

Laughter on the Fringes

2019 ◽  
Author(s):  
Anna Peterson
Keyword(s):  
The Other ◽  
Literary Canon ◽  
Autobiographical Writing ◽  
Treasure Trove ◽  
Old Comedy ◽  
Other Hand ◽  
Aggressive Humor ◽  
The One ◽  
The Individual ◽  
The Impact

This book examines the impact that Athenian Old Comedy had on Greek writers of the Imperial era. It is generally acknowledged that Imperial-era Greeks responded to Athenian Old Comedy in one of two ways: either as a treasure trove of Atticisms, or as a genre defined by and repudiated for its aggressive humor. Worthy of further consideration, however, is how both approaches, and particularly the latter one that relegated Old Comedy to the fringes of the literary canon, led authors to engage with the ironic and self-reflexive humor of Aristophanes, Eupolis, and Cratinus. Authors ranging from serious moralizers (Plutarch and Aelius Aristides) to comic writers in their own right (Lucian, Alciphron), to other figures not often associated with Old Comedy (Libanius) adopted aspects of the genre to negotiate power struggles, facilitate literary and sophistic rivalries, and provide a model for autobiographical writing. To varying degrees, these writers wove recognizable features of the genre (e.g., the parabasis, its agonistic language, the stage biographies of the individual poets) into their writings. The image of Old Comedy that emerges from this time is that of a genre in transition. It was, on the one hand, with the exception of Aristophanes’s extant plays, on the verge of being almost completely lost; on the other hand, its reputation and several of its most characteristic elements were being renegotiated and reinvented.

scholarly journals Application of Plant Extracts in Micropropagation and Cryopreservation of Bleeding Heart: An Ornamental-Medicinal Plant Species

Agriculture ◽  
2021 ◽  
Vol 11 (6) ◽  
pp. 542
Author(s):  
Dariusz Kulus ◽  
Natalia Miler
Keyword(s):  
Tissue Culture ◽  
Plant Growth ◽  
Plant Growth Regulators ◽  
Growth Regulators ◽  
Plant Extracts ◽  
The Other ◽  
White Gold ◽  
Natural Extracts ◽  
Other Hand ◽  
The Impact

Lamprocapnos spectabilis (L.) Fukuhara (bleeding heart) is valued both in the horticultural and pharmaceutical markets. Despite its great popularity, information on the in vitro tissue culture technology in this species is limited. There is also little knowledge on the application of plant extracts in the tissue culture systems of plants other than orchids. The aim of this study is to compare the utility of traditional plant growth regulators (PGRs) and natural extracts—obtained from the coconut shreds, as well as oat, rice, and sesame seeds—in the micropropagation and cryopreservation of L. spectabilis ‘Gold Heart’ and ‘White Gold’. The biochemical analysis of extracts composition is also included. In the first experiment related to micropropagation via axillary buds activation, the single-node explants were cultured for a 10-week-long propagation cycle in the modified Murashige and Skoog medium fortified either with 1.11 µM benzyladenine (BA) and 1.23 µM indole-3-butritic acid (IBA) or with 10% (v/v) plant extracts. A PGRs- and extract-free control was also considered. In the cryopreservation experiment, the same 10% (v/v) extracts were added into the medium during a seven-day preculture in the encapsulation-vitrification cryopreservation protocol. It was found that the impact of natural additives was cultivar- and trait-specific. In the first experiment, the addition of coconut extract favoured the proliferation of shoots and propagation ratio in bleeding heart ‘Gold Heart’. Rice extract, on the other hand, promoted callus formation in ‘White Gold’ cultivar and was more effective in increasing the propagation ratio in this cultivar than the conventional plant growth regulators (4.1 and 2.6, respectively). Sesame extract suppressed the development of the explants in both cultivars analysed, probably due to the high content of polyphenols. As for the second experiment, the addition of plant extracts into the preculture medium did not increase the survival level of the cryopreserved shoot tips (sesame and oat extracts even decreased this parameter). On the other hand, coconut extract, abundant in simple sugars and endogenous cytokinins, stimulated a more intensive proliferation and growth of shoots after rewarming of samples. Analysing the synergistic effect of conventional plant growth regulators and natural extracts should be considered in future studies related to L. spectabilis.

Education and Learning at a Medieval English Cathedral: Exeter 1380–1548

1981 ◽  
Vol 32 (3) ◽  
pp. 265-283 ◽  
Author(s):  
Nicholas Orme
Keyword(s):  
Sixteenth Century ◽  
Good Deal ◽  
The Other ◽  
Educational Institutions ◽  
Medieval England ◽  
Literary Education ◽  
Other Hand ◽  
The People ◽  
The Impact

During the last hundred years our knowledge of the educational institutions of medieval England has steadily increased, both of schools and universities. We know a good deal about what they taught, how they were organised and where they were sited. The next stage is to identify their relationship with the society which they existed to serve. Whom did they train, to what standards and for what ends? These questions pose problems. They cannot be answered from the constitutional and curricular records which tell us about the structure of educational institutions. Instead, they require a knowledge of the people—the pupils and scholars—who went to the medieval schools and universities. We need to recover their names, to compile their biographies and thereby to establish their origins, careers and attainments. If this can be done on a large enough scale, the impact of education on society will become clearer. In the case of the universities, the materials for this task are available and well known. Thanks to the late Dr A. B. Emden, most of the surviving names of the alumni of Oxford and Cambridge have been collected and published, together with a great many biographical records about them. For the schools, on the other hand, where most boys had their literary education if they had one at all, such data are not available. Except for Winchester and Eton, we do not possess lists of the pupils of schools until the middle of the sixteenth century, and there is no way to remedy the deficiency.

Most Often Motivated by Social Media: The Who, the What, and the How Much—Experience from Poland

2021 ◽  
Vol 13 (20) ◽  
pp. 11193
Author(s):  
Karol Król ◽  
Dariusz Zdonek
Keyword(s):  
Social Media ◽  
Intrinsic Motivation ◽  
Statistical Methods ◽  
The Other ◽  
Public Expression ◽  
Other Hand ◽  
The Impact ◽  
The Way

Content published in social media (SM) can be motivating. It can induce action, stimulate demand, and shape opinions. On the other hand, it can demotivate, cause helplessness, or overwhelm with information. Still, the impact of SM is not always the same. The paper aims to analyse the relations between sex, personality, and the way social media is used and motivation to take specific actions. The conclusions are founded on a survey (n = 462). The data were analysed with statistical methods. The study revealed that the use of SM has a significant impact on the motivation to act. Browsing through descriptions and photographs of various achievements posted by others in SM increased the intrinsic motivation of the respondents. Positive comments and emojis had a similar effect. Moreover, women and extraverts noted a significantly greater impact of SM on their intrinsic motivation concerning health and beauty effort, travel, hobby, and public expression of opinions than men and introverts. The results can be useful to recruiters. Extravert women that are open to cooperation, thorough, and well-organised are more likely to be active in SM.

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