The perfect storm of personal consumption

2021 ◽  
pp. 27-50
Author(s):  
L. M. Grigoryev ◽  
Z. S. Elkina ◽  
P. A. Mednikova ◽  
D. A. Serova ◽  
M. F. Starodubtseva ◽  
...  
Keyword(s):  
Stock Prices ◽  
Durable Goods ◽  
Developed Countries ◽  
Service Industries ◽  
Investment Funds ◽  
Fiscal Incentives ◽  
Personal Consumption ◽  
Service Sectors ◽  
Real Estate Prices ◽  
Almost All

The COVID-19 pandemic forced the governments of almost all countries to introduce lockdowns in 2020, which sharply reduced the supply in a number of large service sectors: transport, recreation, catering, tourism. The recession began without a crisis, and the unique supply of cheap money and fiscal incentives prevented the development of a “liquidity crunch”. On the contrary, it led to an increase in stock prices, real estate prices, and a reduction in bankruptcies. There was no drop in the value of pension and investment funds. The working population has faced a reduction in employment in labor-intensive service industries, a violation of traditional lifestyle models. The course of the recession in these conditions has changed the structure of personal consumption in developed countries, with its severe adaptation in medium-developed and less developed countries. The pandemic and the recession have caused an uneven compression of activity and consumption across social strata that leads to an increase in social disparities on exiting the recession. The drivers of the demand-side recovery in developed countries are the growth of investments in housing and durable goods, and developing countries are gradually restoring normal consumption of non-durable goods and exports.

Population Change, Modernization and Welfare. By Joseph Spengler. Prentice-Hall Inc., Englewood Cliffs, N.J. 1974.

1977 ◽  
Vol 16 (2) ◽  
pp. 220-222
Author(s):  
Zeba A. Sathar
Keyword(s):  
Population Growth ◽  
Population Change ◽  
Population Control ◽  
Stable Condition ◽  
Developed Countries ◽  
Wide Field ◽  
Wide Scale ◽  
Socio Economic Variables ◽  
Almost All

The book covers a wide field, touching on almost all aspects of popula¬tion change on a world-wide scale. It discusses, using world and country data, the relationships between demographic and socio-economic variables, and elaborates on" their relative importance in the determination of population problems which confront the world as a whole and nations individually. Policies designed to alleviate these problems are discussed with an emphasis on those related to population control. The first chapter is entitled "Population Growth: Past and Prospective" and reviews the various parameters associated with population change in the past and in the future. It touches upon the concept of a stable population in order to show the elements which cause a population to change (i.e. remove it from its stable condition). The main elements of change, population growth, migration, mortality and natality are discussed individually. The chapter is concluded by a description of the main differences in these elements and other socio-economic conditions as they exist in the less-developed and developed countries.

Sectoral Analysis of Foreign Direct Investment in India During First Generation Reform Period

2015 ◽  
Vol 4 (2) ◽  
Author(s):  
Manoj Kumar Sinha
Keyword(s):  
First Generation ◽  
Correlation Matrices ◽  
Foreign Investors ◽  
Industrial Policies ◽  
Sectoral Analysis ◽  
Industrial Sectors ◽  
Reform Period ◽  
Service Sectors ◽  
Almost All ◽  
Rank Dominance

Since 1991, India has cautiously and slowly opened almost all the sectors, except a few related to strategic importance, for foreign investors. Degree of openness of various industrial sectors for FDI has been increased to the extent of 100 percent by consistently liberalizing industrial policies of the sectors. The purpose of the paper is to study pattern and trends of sectoral distribution of FDI within the background of the first generation reforms and liberalized industrial policies during 1991-2001. The paper has used series of the dynamics and stylistic indices and statistical tools such as three level indices, index of rank dominance, and correlation matrices for explaining the pattern of FDI distribution across sectors during 1991-2001. The results show that electrical, transportation, chemical, telecommunication, and service sectors are most dominating sectors and represent almost 75 percent of total FDI received during 1991-2001. Index of rank dominance indicates distribution of FDI across the sectors is top heavy.

scholarly journals Certain Aspects of Family Policy Incentives for Childbearing—A Hungarian Study with an International Outlook

2018 ◽  
Vol 10 (11) ◽  
pp. 3976 ◽  
Author(s):  
Judit Sági ◽  
Csaba Lentner
Keyword(s):  
Family Policy ◽  
Developed Countries ◽  
Birth Rates ◽  
Cultural Economic ◽  
Policy Regime ◽  
New Family ◽  
Policy Interventions ◽  
Fiscal Incentives ◽  
The Government ◽  
Policy Incentives

Decreasing trends in birth rates in developed countries during the past decades, which threaten the sustainability of their populations, raise concerns in the areas of employment and social security, among others. A decrease in willingness to bear children has been examined in the international literature from several (biological, socio-cultural, economic, and spatial, etc.) aspects. Among these, the question of the effectiveness of fiscal incentives has been raised, with arguments that these are positive, but not significant, to birth rates; our study also concludes this. In Hungary, from 2010 onwards, the government has introduced very high tax allowances for families and, from 2015, has provided direct subsidies for housing purposes, all within a framework of a new family policy regime. This paper presents an evaluation of family policy interventions (e.g., housing support, tax allowances, other child-raising benefits), with the conclusion that fiscal incentives cannot be effective by themselves; a sustainable level of birth rates can only be maintained, but not necessarily increased, with an optimal design of family policy incentives. By studying the Hungarian example of pro-birth policies there is shown to be a policy gap in housing subsidies.

An Empirical Research on the Relationship between Real Estate Prices and Inflation

2011 ◽  
Vol 55-57 ◽  
pp. 1992-1996
Author(s):  
Tie Qun Li
Keyword(s):  
Real Estate ◽  
Stock Prices ◽  
Test Analysis ◽  
Social Demand ◽  
The Real Estate ◽  
Key Factor ◽  
Negative Effect ◽  
Labor Service ◽  
Real Estate Prices ◽  
The Relationship

The former researches referring to inflation and real estate prices concentrated mainly on the stock prices rather than the real estate prices. Owing to the enlarging ratio of real estate industry in national economy with each passing day, as well as the overheating real estate prices in recent years, the relationship between real estate prices and inflation is particularly vital to the monetary policy making for the monetary authorities. According to the test analysis of data from 2001 to 2009, it is found that real estate prices is Granger Cause of inflation while inflation is not the Granger Cause of real estate prices in this paper. Through the Effects of Wealth, Credit and Tobin, real estate prices drive the growth of social consumption and investments and expand the total social demand which possess an positive effect on inflation; nevertheless the rising of real estate prices causes the rising of currency for real estate purchasing, which, under the circumstance of that currency supply remains, will inevitably bring about the reduction of currency for other consumption and investments and restrain the total social demand which would mean a suppression of continuous rising of prices of other commodity and labor service. All these show that real estate also has a negative effect on inflation. The cancellations between the two effects make the long-term influence real estate bearing on inflation is not obvious. The experimental results indicate that when the price of real estate rises 1%, inflation only rises 0.058%. Consequently, a strict controlling of the amount of money issued is the key factor for keeping the over rapid rising of real estate prices from leading to inflation.

Fragmented Responses towards Global Governance: The Indian Context

2017 ◽  
Vol 63 (1) ◽  
pp. 63-84
Author(s):  
Sheila Rai
Keyword(s):  
Global Governance ◽  
Structural Adjustment ◽  
Developed Countries ◽  
Economic Consequences ◽  
Global Institutions ◽  
Southern States ◽  
International Donor ◽  
Service Sectors ◽  
Donor Agencies ◽  
The Masses

The liberalisation dice of the globalisation game has been loaded in favour of developed countries. The recipe of Structural Adjustment Programme (SAP) prescribed by the World Trade Organization (WTO), International Monetary Fund (IMF) and other international economic institutions has proved detrimental to developing countries like India where poverty is pervasive and scarcity of basic amenities crippling. 1 The SAP syndrome has manifested in lockouts, industrial takeovers, closures, massive retrenchments and weakening/diluting of labour laws, etc. Service sectors such as hospitals and schools have also been adversely affected under pressures from international donor agencies. The unsavoury social and economic consequences on the marginal sections have therefore led to a series of protests and demonstrations. The struggle in all its complexities is both ideological and practical. Pressure to alter the pace and intensity of liberalisation, and change ‘scorecards’ of growth, security and redistribution have gained momentum. The propensity of the elite to coalesce with the predominant forces of globalisation and ignore the basic urges of the masses further adds to the complexities. Evidently, the cataclysmic change augured by global governance on the society, politics and economics is multifaceted. The response of the southern states, namely, India, to this crossfire between the dictates of the global institutions vis-à-vis the complexities of the protests and demands of the classes and masses has been critically analysed in this article. The ongoing attempts to assuage the brutal edges of poverty and provide security and protection are also scrutinised.

Risk Analysis for Knowledge Sharing in Tax Payment

2016 ◽  
Vol 6 (1) ◽  
pp. 20-37
Author(s):  
Zahra Kazemi ◽  
Ahmad Jafari Samimi ◽  
Hamed Fazlollahtabar
Keyword(s):  
Knowledge Sharing ◽  
Tax Evasion ◽  
Developed Countries ◽  
Government Expenditures ◽  
Positive Effects ◽  
The People ◽  
Using Data ◽  
Tax Payments ◽  
Almost All ◽  
Tax Payers

One way to finance government expenditures is to collect taxes. Regarding to this financial source compared with other sources positive tax knowledge sharing amongst people or tax payers lead to effective investment. Unlike developing countries in developed countries - that taxes have little effects - almost all government expenditures is financed by taxes. One of the main challenges in the tax system is how to collect taxes due to tax evasion. The main reason is the uncertainty surrounding how government uses the taxes paid by the people. A major factor in the outbreak of the sense of failure to pay taxes, is the discussion and sharing the viewpoint of each other. If there is any positive tax effect prevalence of speech among people motivate them to pay more and if not, paying taxes is impaired. Therefore in order to avoid disorderliness in paying taxes that lead to a reduction in the development growth rate of investing taxes in industry and services sectors procedures should be designed so that taxes spread in speech with more quality. In this article five categories that people share their knowledge about them with each other, have been proposed. Defining risk structure and using data from surveying form the risk values of tax payment the results indicate that sharing tax knowledge amongst people have positive effects on tax payments.

scholarly journals Financial Markets’ Governance, Transparency and Informational Efficiency: Role of IfRS Norms, Auditors and Financial Analysts

2016 ◽  
Vol 9 (5) ◽  
pp. 100
Author(s):  
Imen Lamiri ◽  
Adel Boubaker
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Stock Price ◽  
Financial Analysts ◽  
Negative Relationship ◽  
Developed Countries ◽  
Coefficient Of Determination ◽  
Specific Information ◽  
Informational Efficiency

<p>This article explores the informational role of three essential modern financial markets actors such IFRS norms, the Big”4” and the financial analysts for a panel of emergent and developed countries during the period from 2001 to 2010. We hypothesis that these mechanisms help improving the quality of specific information incorporated into stock prices measured by the stock price synchronicity (SPS). The main result is that both financial analyst’s coverage and IFRS adoption's effects seem to be stronger for emerging than developed markets. The results also show a negative relationship between auditors’ opinion and coefficient of determination (R<sup>2</sup>).</p>

Sensitivities of Southeast Asian industries to the local and global business cycles

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Javed Iqbal
Keyword(s):  
Business Cycle ◽  
Durable Goods ◽  
Developed Countries ◽  
Least Square ◽  
Seemingly Unrelated Regression ◽  
Manufacturing Industries ◽  
Series Data ◽  
Global Business ◽  
Asymmetric Reaction ◽  
Content Type

PurposeThis paper estimates the sensitivities of the output of the manufacturing industries of the four Southeast countries (Indonesia, Malaysia, Philippines, Singapore) to both the country-specific and global business cycle fluctuations. The study investigates whether the business cycle exposures of these industries differ to their nature classified as producing durable or nondurable goods and also to booms and recessions.Design/methodology/approachUsing annual time series data on sectoral manufacturing production indices for major manufacturing industries over the period from 1999 to 2018, this paper uses the seemingly unrelated regression (SUR)–based generalized least square estimator to estimate the exposures of each industry for each of the four countries to local and world business cycle.FindingsThe individual country analysis indicates that generally the sensitivities of the ASEAN manufacturing industries to booms and recessions are different from the pattern observed in the developed countries and Russia. We do not find evidence consistent with the commonly held view among economists and business managers that demand for durable goods flourishes in booms and falls in recessions. Also, very few industries exhibit an asymmetric reaction to booms and busts. However, the analysis of panel data reveals the expected pattern of industrial sensitivities to the local business cycle only.Originality/valueThe paper makes several contributions. Firstly, the model proposed in the paper estimates sensitivities of industries to both the local and global business cycle variations. Secondly, the model enables us to explicitly test the asymmetric reaction of industries to booms and busts. Thirdly, the paper is the first attempt to estimating business cycle exposures for manufacturing industries in emerging markets.

Sustainable Development and the Digital Divide Among OIC Countries

2010 ◽  
pp. 233-252
Author(s):  
Chamhuri Siwar ◽  
Abdul-Mumin Abdulai
Keyword(s):  
Digital Divide ◽  
Global Economy ◽  
Developed Countries ◽  
Information And Communications Technology ◽  
Scientific Development ◽  
Communications Technology ◽  
Information And Communications Technologies ◽  
Communications Technologies ◽  
The Developed Countries ◽  
Almost All

Undoubtedly, digital technology (DT) has revolutionalised information and communications technology (ICT) base of the global economy, which has impacted tremendously the socio-economic, political, cultural and scientific development in the majority of the world’s economies. The chapter examines “digital divide” in a broader perspective of information and communications technologies (ICTs) that encompass not only computers, but also telephone (line and cellular), television (TV), radio etc. It is an open secret that ICTs have played and will continue to play a pivotal role in sustaining economic development in the developed countries. Through ICTs, creating, storing and sharing enormous volume of information with relative ease in almost all the spheres of human endeavour have been made possible. The power inherent in ICT that can break up barriers and boundaries holding countries, continents and businesses miles apart can never be over-emphasized. Despite the attendant benefits of ICTs, there are still deep-seated ICT inequalities both within and among the Organization of the Islamic Conference (OIC) member countries. This chapter investigates the depth of the existing digital divide among the OIC member countries and to unearth the possible obstacles. Finally, some policy recommendations have been offered towards the end of the chapter.

The Trouble With Tinder

2022 ◽  
pp. 1651-1670
Author(s):  
Elizabeth Mazur
Keyword(s):  
Emerging Adults ◽  
Online Dating ◽  
Developed Countries ◽  
The Internet ◽  
Persons With Disabilities ◽  
Step Process ◽  
Dating Apps ◽  
Disability Stigma ◽  
Almost All ◽  
The U.S

Although research indicates that almost all emerging adults in the U.S. use the internet, little is known about the online dating experiences of persons with disabilities. Particularly in developed countries, online dating currently accounts for a substantial proportion of the initiation of romantic relationships and promises numerous advantages for persons with disabilities. Online dating includes a way to escape disability stigma, at least initially, access to a wide network of potential partners, and a convenient, private, and efficient method of meeting them. Online daters can be strategic in how they present both themselves and their disabilities, the manner in which they communicate with potential partners, and whether they join a large, popular dating site or a specialized disability-oriented one. The chapter discusses how the nine-step process of online dating might differ for or challenge emerging adults with various types of disabilities, sharing relevant research and media examples when available. The implications of popular mobile dating apps are also considered.

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