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.

The impact of the global financial crisis on Millennium Development Goal attainment in Africa

2017 ◽  
Author(s):  
Leah McMillan Polonenko
Keyword(s):  
Financial Crisis ◽  
Goal Attainment ◽  
Global Financial Crisis ◽  
Adequate Funding ◽  
Development Goals ◽  
Education In Ghana ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Global Initiatives

This chapter examines the challenges involved in attaining the Millennium Development Goals (MDGs) in Africa in the wake of the 2008 global financial crisis and highlights important lessons for future financing of global initiatives. The 2008 global financial crisis provided a very important caution: global initiatives are only as good as their global conditions. The crisis had very real consequences for the education sector, particularly through the reduction of adequate funding. The chapter first considers the consequences of the global financial crisis to education, taking into account the role of foreign aid, before discussing the cases of primary education in Ghana and Zimbabwe. It concludes by suggesting some best practices for learning from the failures to education from the 2008 agenda.

Assessing The Impact Of The Global Financial Crisis On GCC Countries

2010 ◽  
Vol 8 (2) ◽  
Author(s):  
Hisham H. Abdelbaki
Keyword(s):  
Financial Crisis ◽  
Interest Rates ◽  
Global Financial Crisis ◽  
The United States ◽  
Font Size ◽  
Negative Effects ◽  
Gcc Countries ◽  
The World ◽  
The Global Financial Crisis ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 27pt 0pt;"><span style="font-family: Times New Roman;"><span style="color: #0d0d0d; font-size: 10pt; mso-bidi-language: AR-EG;">No doubt, the </span><span style="color: #0d0d0d; font-size: 10pt;">international financial crisis that started in the United States of America will cast its effects on all countries of the world, developed and developing. Yet these effects vary from one country to another for several reasons. The GCC countries would not escape these negative effects of this severe crisis. The negative effects of the crisis on gulf countries come from many aspects: first, decrease in price of oil on whose revenues the development programs in these countries depend; second, decrease in the value of US$ and the subsequent decrease in the assets owned by these countries in US$; third, a case of economic stagnation will prevail in the world with effects starting to appear. </span><span style="color: #0d0d0d; font-size: 10pt; mso-bidi-language: AR-EG;">It is obvious that this would be reflected on the real sector in the economies causing a series of negative effects through decrease of the world demand for exports of GCC countries of oil, petrochemicals and aluminum.<span style="mso-spacerun: yes;">&nbsp; </span>Lastly, increased inflation rates with decreased interest rates will result in a decrease in real interest with an accompanying decrease in incentives for saving and consequently investment and economic development. The main aim of the research is to assess the economic effects of the global financial crisis on GCC countries. The paper results are that the big reserves of foreign currencies achieved by the GCC countries in the past few years have helped increase their ability to bear the effects of the financial effects on one hand and their ability to adopt expansionary policies through pumping liquidity to absorb the regressive effects of the crisis on the other. The paper recommends the necessity of taking precautionary procedures for the effects which will result from the expansionary policies effective in GCC countries. <strong></strong></span></span></p>

scholarly journals The Responsible Business:  Corporate Social Responsibility in the Recession

2021 ◽  
Author(s):  
◽  
Isaac Jordan Rodgers
Keyword(s):  
Financial Crisis ◽  
Social Responsibility ◽  
Corporate Strategy ◽  
Social Responsibilities ◽  
Economic Context ◽  
The World ◽  
Business In Society ◽  
The Impact

<p>The 2008 financial crisis and recession crippled some of the largest businesses in the world and caused severe recession across the world. However, prior to the focus on economic recovery, social responsibility and sustainability were major themes in the business world and debate centred on the role of business in society. The key question and area for research was how the financial crisis affected this debate. This thesis uses the financial crisis to explore the role and responsibilities of business. This research is located firmly within the literature on business and society, where the key debates centre on the role of business and the scope of business responsibilities. The literature on social responsibility has a notable gap in the fact that it does not address the impact of economic context on social responsibilities. The methodology of this paper uses a set of twenty-one interviews. These interviews consisted of three sets of seven interviews with different participant groups for each set. The participant groups consisted of consumers, policy managers and business managers. These interviews were analysed for themes through the data analysis method of coding. The findings of this paper suggest that the role of business in society should be focused on the generation of profit and that the recession or other economic influences do not change this role. These findings also suggest that although businesses are responsible only for complying with the law, they should also satisfy their customers, engage in activities beneficial to their long term interest and avoid actions which cause harm to others or undermine the long term viability of the business. The findings also imply that neither economic context nor profit, changes these responsibilities. These findings make important theoretical and practical contributions. The theoretical contributions support the literature arguing for a limited scope on the role of business. They also argue in favour of social responsibilities being voluntary. The finding that economic context and profitability have no impact on responsibility is important in its own right, but also suggests that business responsibilities are static. This paper makes another contribution through models which are based on the findings. These models combine social responsibility with corporate strategy to show the concept of a responsible business and the difference between voluntary, compulsory and strategic responsibilities.</p>

scholarly journals Economic Resilience: What Role for Policies?

2016 ◽  
Vol 07 (02) ◽  
pp. 1650009 ◽  
Author(s):  
Aida Caldera Sánchez ◽  
Morten Rasmussen ◽  
Oliver Röhn
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Economic Resilience ◽  
Trade Offs ◽  
Shock Impact ◽  
The Global Financial Crisis ◽  
The Impact

The global financial crisis highlighted the importance of strengthening the resilience of our economies to adverse shocks. In this paper, we take stock of studies carried out primarily within, but also outside the OECD, to better understand the role of macroeconomic and structural policies in spurring or mitigating the vulnerabilities that can lead to costly shocks, as well as the role of policies in mitigating the shock impact and speeding the recovery. Then we offer tentative insights on how policies can be geared to address vulnerabilities early on, mitigate the impact of shocks and speed recoveries, as well as highlight possible trade-offs that exist across policy areas.

Impact of Microfinance on Poverty in the Context of Global Financial Crisis

2019 ◽  
pp. 1317-1333
Author(s):  
Arindam Laha
Keyword(s):  
Regression Analysis ◽  
Financial Crisis ◽  
South Asia ◽  
Global Financial Crisis ◽  
Poor Households ◽  
Head Count ◽  
The Global Financial Crisis ◽  
The Impact ◽  
The Relationship

The microfinance programme in the South Asia region has proven to be resilient to the shocks of global financial crisis. In fact, cross country experiences in South Asia reveal little impact of the global financial crisis on the penetration of the microfinance programmes to poor households. To explore the impact of microfinance on poverty in the backdrop of global financial crisis, an attempt has been made in this present study to examine the relationship between MFI's gross portfolio per active borrower and the measures of poverty. Empirical evidences based on Pooled Regression Analysis suggest that gross portfolio per active borrower is negatively and significantly associated with the poverty head count ratio or poverty gap measure, which is consistent with the author's hypothesis that micro loans reduce poverty. The poverty alleviation role of microfinance in South Asian countries is not changing its dynamics even in post-crisis scenario.

Impact of Microfinance on Poverty in the Context of Global Financial Crisis

2015 ◽  
pp. 399-415 ◽  
Author(s):  
Arindam Laha
Keyword(s):  
Regression Analysis ◽  
Financial Crisis ◽  
South Asia ◽  
Global Financial Crisis ◽  
Poor Households ◽  
Head Count ◽  
The Global Financial Crisis ◽  
The Impact ◽  
The Relationship

The microfinance programme in the South Asia region has proven to be resilient to the shocks of global financial crisis. In fact, cross country experiences in South Asia reveal little impact of the global financial crisis on the penetration of the microfinance programmes to poor households. To explore the impact of microfinance on poverty in the backdrop of global financial crisis, an attempt has been made in this present study to examine the relationship between MFI's gross portfolio per active borrower and the measures of poverty. Empirical evidences based on Pooled Regression Analysis suggest that gross portfolio per active borrower is negatively and significantly associated with the poverty head count ratio or poverty gap measure, which is consistent with the author's hypothesis that micro loans reduce poverty. The poverty alleviation role of microfinance in South Asian countries is not changing its dynamics even in post-crisis scenario.

scholarly journals The Impact of the Global Financial Crisis, Does It Sustain?

2016 ◽  
Vol 8 (10) ◽  
pp. 82 ◽  
Author(s):  
Bashar Al-Zu'bi ◽  
Hussein Salameh ◽  
Qasim Mousa Abu Eid
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Global Financial Crisis ◽  
Stock Market Index ◽  
The World ◽  
The Usa ◽  
Short And Long Term ◽  
The Global Financial Crisis ◽  
The Impact

<p>This paper studies the short and long term relationship between S&amp;P500 USA stock market index and the stock market indices of 30 countries around the world over the period June 2010-April 2015. We implement OLS regression and use error correction model to examine the short and long term relationship between the variables. Empirically, we find that there is a relationship on the short and long term between S&amp;P500 and the indices of 27 countries from East Asia, Europe, Latin America, Middle East as well as the countries of Australia and Canada. These results conclude that the global financial crisis of 2007-2008 significantly and lengthy increased the already high level of co-movement between the USA financial market and the observed stock market for 27 countries around the world. The findings from our research are important; however, we believe that further research based on our findings is necessary.</p>

scholarly journals Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

2012 ◽  
Vol 4 (3) ◽  
pp. 30-55 ◽  
Author(s):  
Laura Alfaro ◽  
Maggie Xiaoyang Chen
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Foreign Ownership ◽  
Differential Response ◽  
Crisis Period ◽  
The World ◽  
The Global Financial Crisis ◽  
Better Than

We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world responded to the crisis relative to local establishments. We find that, first, multinational subsidiaries fared on average better than local counterfactuals with similar economic characteristics. Second, among multinational subsidiaries, establishments sharing stronger vertical production and financial linkages with parents exhibited greater resilience. Finally, in contrast to the crisis period, the effect of foreign ownership and linkages on establishment performance was insignificant in noncrisis years. (JEL F23, G01, L22, M16)

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