The Problem of Identifying and Modeling the Relationship between Monetary Factor and Inflation in the Russian Economy

2008 ◽  
pp. 61-76
Author(s):  
A. Porshakov ◽  
A. Ponomarenko
Keyword(s):  
Money Supply ◽  
Money Demand ◽  
Russian Economy ◽  
Long Run ◽  
Complex Approach ◽  
Wide Range ◽  
Long Time ◽  
The Relationship ◽  
Supply Side Factors

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

scholarly journals Institutional quality and the capital structure of microfinance institutions: the moderating role of board gender diversity

2021 ◽  
pp. 1-21
Author(s):  
Michael Adusei ◽  
Beatrice Sarpong-Danquah
Keyword(s):  
Capital Structure ◽  
Institutional Environment ◽  
Gender Diversity ◽  
Institutional Quality ◽  
Microfinance Institutions ◽  
Female Representation ◽  
Long Run ◽  
Board Gender Diversity ◽  
The Relationship

Abstract We test the effect of institutional quality on capital structure in the microfinance setting. In doing this, we rely on data from 532 microfinance institutions (MFIs) located in 73 countries dotted across the six microfinance regions in the world. We observe that institutional quality exhibits a robust negative and statistically significant relationship with capital structure in both the short and long run, implying that MFIs in countries with a better institutional environment are less likely to utilize more debt. Our moderation analysis furnishes us with evidence that the presence of women on the board of an MFI significantly moderates the relationship between institutional quality and its capital structure. We show that in the presence of more female representation on the boards of MFIs, the tendency of MFIs using less debt is higher.

scholarly journals Non-bank financial institutions and economic growth: Evidence from Africa’s three largest economies

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Ronald Rateiwa ◽  
Meshach J. Aziakpono
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Financial Institutions ◽  
Time Series Data ◽  
Bank Lending ◽  
Series Data ◽  
The Sustainable Development ◽  
Long Run ◽  
The Relationship

Background: In order for the post-2015 world development agenda – termed the sustainable development goals (SDGs) – to succeed, there is a pronounced need to ensure that available resources are used more effectively and additional financing is accessed from the private sector. Given that traditional bank lending has slowed down, the development of non-bank financing has become imperative. To this end, this article intends to empirically test the role of non-bank financial institutions (NBFIs) in stimulating economic growth.Aim: The aim of this article is to empirically test the existence of a long-run equilibrium relationship between economic growth and the development of NBFIs, and the causality thereof.Setting: The empirical assessment uses time-series data from Africa’s three largest economies, namely, Egypt, Nigeria and South Africa, over the period 1971–2013.Methods: This article uses the Johansen cointegration and vector error correction model within a country-specific setting.Results: The results showed that the long-run relationship between NBFI development and economic growth is relatively stronger in Egypt and South Africa, than in Nigeria. Evidence in respect of Nigeria shows that such a relationship is weak. The nature of the relationship between NBFI development and economic growth in Egypt is positive and significant, and predominantly bidirectional. This suggests that a virtuous relationship between NBFIs and economic growth exists in Egypt. In South Africa, the relationship is positive and significant and predominantly runs from NBFI development to economic growth, implying a supply-leading phenomenon. In Nigeria, the results are weak and mixed.Conclusion: The study concludes that in countries with more developed financial systems, the role of NBFIs and their importance to the economic growth process are more pronounced. Thus, there is need for developing policies targeted at developing the NBFI sector, given their potential to contribute to economic growth.

Internet i nastava književnosti: digitalni modernizam

2021 ◽  
Author(s):  
Mladen Stanić ◽  
Keyword(s):  
New Media ◽  
The Internet ◽  
Change Communication ◽  
Teaching Aids ◽  
Wide Range ◽  
Methodological Principles ◽  
Continuous Work ◽  
Teacher's Knowledge ◽  
The Relationship

The wide range of questions that this topic raises lead us to think about the training of teachers, their continuous work and improvement. Following this paragraph, we conclude that a textbook/manual, which would deal with the relationship between the Internet and teaching, or the continuous organization of seminars and trainings, is a necessity for literature teachers. In addition to the teacher's knowledge of the coexistence of literature and new media, it is necessary to pay special attention to the critical attitude of students towards Internet content and to point out the purposeful use of newspapers in the teaching process. The role of teachers in modern timesis not favorable because things related to their profession are rapidly developing: new genres appear, tendencies in study and creation change, communication media are continuously changing, and on the other hand teaching it self must undergo changes and transformations. Nevertheless, proven methodological principles always exist, at least as the essence of teaching, regardless of which teaching aids were used and in what way in class. The Internet content and the opportunities it provides have proven to be stimulating and close to the students, so the teacher can use them, with the awareness that the teaching aid must not overshadow the content that is being processed.

Too tempting to resist? Self-control moderates the relationship between narcissism and antisocial tendencies

2021 ◽  
Author(s):  
Ramzi Fatfouta ◽  
Radosław Rogoza ◽  
Piotr Paweł Brud ◽  
Katrin Rentzsch
Keyword(s):  
Self Control ◽  
Behavioral Indicators ◽  
Wide Range ◽  
Interpersonal Transgression ◽  
The Relationship ◽  
Antisocial Tendencies ◽  
Moderating Role

Previous research highlights that narcissism predicts a wide range of antisocial tendencies. We propose that the expression of such tendencies is contingent on the level of dispositional self-control. Three independent studies (Ntotal = 1,458) using three different narcissism measures and self-reported as well as behavioral indicators of antisocial tendencies tested this moderation hypothesis. In Study 1, antagonistic narcissism was positively related to self-reported revenge following an interpersonal transgression and this relationship was weakened among individuals high (vs. low) in self-control. Studies 2 and 3 conceptually replicated this finding using different narcissism measures, respectively, and trait (Study 2) as well as behaviorally assessed aggression (Study 3) as outcome variables. Results support the moderating role of self-control in the antagonistic narcissism-antisociality link.

7. Challenging EU action or inaction

2019 ◽  
pp. 312-355
Author(s):  
Elspeth Berry ◽  
Matthew J. Homewood ◽  
Barbara Bogusz
Keyword(s):  
Member States ◽  
The Rule Of Law ◽  
Locus Standi ◽  
Wide Range ◽  
Complete Series ◽  
Explanatory Text ◽  
The Relationship ◽  
Primary Materials ◽  
The Eu

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the role of the Court of Justice in ensuring that the rule of law in the EU is observed both by Member States and EU Institutions. The chapter examines infringement actions under Article 258 TFEU, and financial penalties for Member States under Article 260 TFEU. The discussion of judicial review considers acts that may be challenged; who can bring an action under Article 263 TFEU; permissible applicants under Article 263 TFEU; non-privileged applicants; reforming the criteria for locus standi for non-privileged applicants. The chapter also explains the grounds for annulment; the effect of annulment; the plea of illegality; failure to act; and the relationship between Article 263 TFEU and Article 265 TFEU.

scholarly journals ROLE OF GUT MICROBIOTA IN LIPID METABOLISM

2018 ◽  
Vol 11 (4) ◽  
pp. 4 ◽  
Author(s):  
Khrystyna Kvit ◽  
Viacheslav Kharchenko
Keyword(s):  
Lipid Metabolism ◽  
Gut Microbiota ◽  
Intestinal Microbiota ◽  
Blood Lipids ◽  
Published Data ◽  
Long Time ◽  
Lipid Balance ◽  
The Relationship

 Researchers have studied the connection between cholesterol and microbiota for a long time. The results of widely published data demonstrate that the relationship between the lipid balance of the blood and the composition of the intestinal microbiota is apparent. The oblective of this study was, we tried to find the path through which this connection is carried out. Furthermore, the aim was to analyze the studies, which demonstrate the decrease of blood lipids as the result of different prebiotics and probiotics prescribtion. Also, the screening of different data from previous years was done for comparing the changes in the pathogenesis.

Poor Little Rich Kids? The Role of Nature versus Nurture in Wealth and Other Economic Outcomes and Behaviours

2019 ◽  
Vol 87 (4) ◽  
pp. 1683-1725 ◽  
Author(s):  
Sandra E Black ◽  
Paul J Devereux ◽  
Petter Lundborg ◽  
Kaveh Majlesi
Keyword(s):  
Adoptive Parents ◽  
Nature Versus Nurture ◽  
Biological Parents ◽  
Wide Range ◽  
Birth Factors ◽  
Nature And Nurture ◽  
Parental Wealth ◽  
Highly Correlated ◽  
The Relationship

Abstract Wealth is highly correlated between parents and their children; however, little is known about the extent to which these relationships are genetic or determined by environmental factors. We use administrative data on the net wealth of a large sample of Swedish adoptees merged with similar information for their biological and adoptive parents. Comparing the relationship between the wealth of adopted and biological parents and that of the adopted child, we find that, even prior to any inheritance, there is a substantial role for environment and a much smaller role for pre-birth factors and we find little evidence that nature/nurture interactions are important. When bequests are taken into account, the role of adoptive parental wealth becomes much stronger. Our findings suggest that wealth transmission is not primarily because children from wealthier families are inherently more talented or more able but that, even in relatively egalitarian Sweden, wealth begets wealth. We further build on the existing literature by providing a more comprehensive view of the role of nature and nurture on intergenerational mobility, looking at a wide range of different outcomes using a common sample and method. We find that environmental influences are relatively more important for wealth-related variables such as savings and investment decisions than for human capital. We conclude by studying consumption as an overall measure of welfare and find that, like wealth, it is more determined by environment than by biology.

Optimism-pessimism effects on money demand: theory and evidence

2019 ◽  
Vol 11 (1) ◽  
pp. 23-35
Author(s):  
Christos Karpetis ◽  
Stephanos Papadamou ◽  
Eleftherios Spyromitros ◽  
Erotokritos Varelas
Keyword(s):  
Money Demand ◽  
Content Type ◽  
Real Money ◽  
Consumption Expenditures ◽  
Data Framework ◽  
Recent Financial Crisis ◽  
Demand Sensitivity ◽  
Demand Changes ◽  
The Relationship

Purpose The purpose of this paper is to investigate, both theoretically and empirically, the relationship between optimism (pessimism) – as reflected by animal spirits – and money demand by taking into account transaction costs. Design/methodology/approach Inspired by the theoretical model of money demand by Teles et al. (2016) the authors incorporate the optimism (pessimism) effects in the money demand. Then, using the consumers’ confidence indicator as a proxy indicator of optimism/pessimism, they estimate the money demand in a panel data framework. Findings The theoretical framework suggests that the optimism (pessimism) effects on money demand are positive (negative). Empirical evidence for 11 Eurozone countries divided in two groups (i.e. core and periphery) confirms the theoretical considerations. Practical implications It appears that periphery countries with a higher sensitivity to the recent financial crisis present lower real money demand sensitivity to consumption expenditures and higher real money demand sensitivity to consumer confidence index. Moreover, in such countries, money demand changes present higher persistence over time. Thus, the authors observe differing attitudes concerning money demand across Eurozone citizens that should be taken into account by monetary policymakers (i.e. the ECB). Originality/value The authors introduce, in the vast literature on money demand, both theoretically and empirically the role of optimism (pessimism). Differences across core and periphery Eurozone countries identified.

Controlling Money Supply And Price Level With Unknown Regime Shifts: The Case Of Chile

2011 ◽  
Vol 24 (2) ◽  
Author(s):  
Abdulnasser Hatemi-J ◽  
Manuchehr Irandoust
Keyword(s):  
Monetary Policy ◽  
Steady State ◽  
Money Supply ◽  
Price Level ◽  
Regime Shifts ◽  
Font Size ◽  
Long Run ◽  
Causality Tests ◽  
The Relationship ◽  
Second Period

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;" lang="EN-GB"><span style="font-family: Times New Roman;">This paper investigates the relationship between money supply and price level using new tests for cointegration with two unknown regime shifts and bootstrap causality tests. Quarterly Chilean data from 1973: I to 2006: III is used. We find empirical evidence that the variables establish a long-run steady state relationship in the presence of two regime shifts. The elasticity of price level with regard to money supply is close to unity during the first period (prior to 1978: II). The elasticity is reduced during the second period (1978: III-1986: I) and it is also reduced for the remaining period but the reduction is smaller. We also conducted bootstrap causality tests that reveal the following: in the first sub-period there is bidirectional causality between the underlying variables. In the last two sub-periods money supply causes the price level only. This implies that money supply is weakly exogenous concerning the price level and that the monetary authority had enough independence to execute an active monetary policy in Chile. <span style="mso-bidi-font-weight: bold;"></span></span></span></p>

‘One bourbon, one scotch, one beer’: alcohol sponsorship at Glasgow Jazz Festival, 1987–2001

Popular Music ◽  
2016 ◽  
Vol 35 (2) ◽  
pp. 231-244
Author(s):  
Alison C. Eales
Keyword(s):  
Cultural Landscape ◽  
Early Years ◽  
Social Changes ◽  
Landscape Changes ◽  
Music Festival ◽  
Cultural Life ◽  
Wide Range ◽  
Alcoholic Drinks ◽  
The Relationship

AbstractThis article examines the relationship between music and sponsorship by drinks companies. Glasgow Jazz Festival has taken place annually since 1987 and is the city's longest running music festival. In its early years, the Festival enjoyed both cash and in-kind sponsorship from a wide range of organisations, including breweries and distilleries along with companies specialising in non-alcoholic drinks. In 2015 sponsorship was more difficult to secure, with cash sponsorship proving to be particularly elusive. The article focuses on cash sponsorship from drinks companies from 1987 to 2001, arguing that the decline in this form of sponsorship is a result of a shifting commercial and cultural landscape. Changes in Glasgow's festival calendar have resulted in a crowded marketplace which not only makes it harder for arts organisations to secure funds, but also makes relationships with sponsors more challenging to manage. Meanwhile, legislative and social changes have meant that the role of alcohol in the city's cultural life has been subject to adjustment throughout the Festival's history.

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