scholarly journals Managing The Trilemma: The Case of Malaysia

2010 ◽  
Author(s):  
Goh Soo Khoon
Keyword(s):  
Exchange Rate ◽  
Global Financial Crisis ◽  
Capital Account ◽  
Policy Options ◽  
Policy Makers ◽  
Intermediate Regime ◽  
The Face ◽  
Capital Outflows ◽  
The Global Financial Crisis ◽  
The Impact

This paper discusses how Malaysia manages the trilemma, the conjecture that a country cannot simultaneously maintain an open capital account, an exchange rate stability, and monetary policy independence. Only two out of these three goals can be mutually consistent and policy makers have to decide which third goal to give up. The paper shows how Malaysia adopts an intermediate regime – a regime that enables policy makers to manage all the three goals simultaneously. The impact of the global financial crisis on the Malaysian economy and the policy options for Malaysia to deal with the recent huge capital outflows are discussed in this paper. The willingness by Bank Negara Malaysia to allow a certain extent of exchange rate adjustments in the face of current global crisis reflects that Malaysia is not exempted from the trilemma.  

scholarly journals Exchange rate regimes and external financial stability

2016 ◽  
Vol 61 (209) ◽  
pp. 27-43 ◽  
Author(s):  
Ovidiu Stoica ◽  
Iulian Ihnatov
Keyword(s):  
Exchange Rate ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Exchange Rate Regimes ◽  
Annual Data ◽  
The European Union ◽  
Level Of Economic Development ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Alternative Regime

Financial stability within the framework of the global financial crisis has become a common topic for researchers and practitioners. In order to analyse the impact of exchange rate regimes on financial stability we use both the de jure and de facto exchange rate classifications. We apply the model to a 1999-2010 annual data sample for 135 countries and territories, grouped by the level of economic development. Our second focus is the investigation of the effects of the exchange rate regimes in three economic integration areas (member countries of the European Union 27, the Southern Common Market, and the Association of Southeast Asian Nations) on financial stability. Our results generally support the central banks? concerns that the flexibility of exchange rate regimes should be reduced in order to sustain financial stability; however, the findings are not robust when using alternative regime classifications.

scholarly journals DAMPAK KRISIS KEUANGAN GLOBAL TERHADAP PEREKONOMIAN DAERAH

2010 ◽  
Vol 12 (3) ◽  
Author(s):  
Andry Prasmuko ◽  
Donni Fajar Anugrah
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Aggregate Demand ◽  
Major Effect ◽  
Macro Model ◽  
Simulation Results ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Simultaneous Model

This paper discusses the impact of global financial crisis to the Indonesia's economy by using the simultaneous macro model approach.The analysis and simulation results of such model show that the impact of the global financial crisis is dominantly distributed through the trade line, which decreases the regional output.To the components of aggregate demand, the movement of exchange rate has major effect to the exports and imports, whereas to the consumption and investment, it gives relatively small effect.The impact of external shock, which causes the depreciation of Rupiah, is relatively small to the increase of inflation.JEL classification: C32, E44Keywords:Financial crisis, simultaneous model, Indonesia.

scholarly journals Impact of Privatisation on Employment and Output in Pakistan

2003 ◽  
Vol 42 (4II) ◽  
pp. 513-536 ◽  
Author(s):  
Iram A. Khan
Keyword(s):  
Economic Crisis ◽  
Global Financial Crisis ◽  
Edible Oil ◽  
Short Term ◽  
Policy Makers ◽  
Quality Of Governance ◽  
The Global Financial Crisis ◽  
The Impact

The paper aims to assess the impact of privatisation on employment and output in Pakistan. It uses edible oil and cement sectors as a case study in a pre- and post-privatisation comparative framework. Assessing the impact of privatisation in Pakistan is important at this juncture for two reasons. Firstly, the country is facing a severe economic crisis and privatisation forms an integral part of an array of reform measures recommended by multi-lateral donors as well as policy-makers within and without the country. Burki [(2000), p. 152] observes, “The economy and state of Pakistan are in crisis…. Pakistan has not faced a crisis of this magnitude in its entire 50-year history”. He refers to the five different crises that have combined to create this situation. These are: the global financial crisis, Pakistan’s short-term liquidity problem, economy’s structural weaknesses, severe social backwardness, and, finally, the crisis of governance. Burki (2000) suggests several solutions to the problems, and privatisation is one of the ways to restructure the economy and improve the quality of governance.

scholarly journals Examining the Impact of Global Financial Crisis in Bank Efficiency in Saudi Arabia

2017 ◽  
Vol 1 (4) ◽  
pp. 69
Author(s):  
Md. Golam Solaiman ◽  
Abdul Kadar ◽  
Md. Abul Kalam Azad ◽  
Peter Wanke
Keyword(s):  
Saudi Arabia ◽  
Financial Crisis ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Sustainable Growth ◽  
Scale Efficiency ◽  
Bank Efficiency ◽  
Policy Makers ◽  
The Global Financial Crisis ◽  
The Impact

Aim: The global financial crisis in 2008 has obstructed almost every bank around the world. This study examines the impact of global financial crisis on bank efficiency in Saudi Arabia. Design / Research methods: This study examines the impact of global financial crisis in bank efficiency applying the data envelopment analysis (DEA) during 2006-2014. Eleven commercial banks were examined from Saudi banking sector which covers almost half of total banks of Saudi Arabia. Scale efficiency, technical efficiency and productivity of banks have been examined for assessing the impact of financial crisis overtime. Conclusions / findings: Results reveal that banks in Saudi Arabia are inefficient in terms of technical and scale efficiency. The results also reveal these banks are not immune to the global financial crisis. Though only one bank has kept their unit efficient positions during the study period, the impact of global crisis on bank efficiency is found visible among other banks. The robustness of this study is also tested.  Originality / value of the article: The importance of this study is twofold. First, examining bank efficiency with special attention to financial crisis. Second, Saudi Arabia needs sustainable growth to be ensured. Hence, examination of impact of financial crisis on bank efficiency of Saudi Arabia will surely help the policy makers for future planning.  Implications of the research: The findings of this study will assist the policy makers in Saudi Arabia for taking corrective measure in advance in case of such future financial crisis. Moreover, the results will be used by the managers of the respective banks for decision making and problem solving.

scholarly journals A New Impact of Insolvency Reforms on Business Survival and Recovery Perspectives

2020 ◽  
Vol 2 (2) ◽  
pp. 1
Author(s):  
Katarzyna Boratyńska ◽  
Thao Thi Thu Trinh
Keyword(s):  
Global Financial Crisis ◽  
Point Of View ◽  
Insolvency Law ◽  
Business Survival ◽  
Advantages And Disadvantages ◽  
Financial Framework ◽  
The Face ◽  
Similarities And Differences ◽  
The Global Financial Crisis ◽  
The Impact

This conceptual article concentrates on the insolvency and recovery reforms and business survival. The aim of the research is an evaluation of the impact of insolvency law reforms on the increase of businesses’ survival. The study focuses on a comparative analysis of insolvency reforms on EU level, including the advantages and disadvantages, with a special emphasis on the Polish case, which includes some similarities and differences to other EU countries’ insolvency procedures. The article presents the concept of the most effective insolvency framework and its efficiency (as well as legal and financial framework) that gives the best results for companies to survive, to start recovery procedures and restructuring, not to go bankrupt, and not to become liquidated and eliminated from a competitive market. Taking a critical thinking approach, the article indicates the weaknesses of the existing insolvency procedures that should be improved and offers some recommendations for the future. The study covers, from a scientific point of view, the important issues that, in the face of complexity, a global, turbulent environment, and the global financial crisis, deserve an investigation. The findings and the implications are crucial not only for scientists, but also for insolvency practitioners, business and financial institutions’ representatives, and policymakers.

scholarly journals Trends in Roll-Your-Own Smoking: Findings from the ITC Four-Country Survey (2002–2008)

2012 ◽  
Vol 2012 ◽  
pp. 1-7 ◽  
Author(s):  
David Young ◽  
Hua-Hie Yong ◽  
Ron Borland ◽  
Lion Shahab ◽  
David Hammond ◽  
...  
Keyword(s):  
Low Income ◽  
Global Financial Crisis ◽  
Low Cost ◽  
Marketing Strategies ◽  
Policy Makers ◽  
Niche Marketing ◽  
Tobacco Epidemic ◽  
The Global Financial Crisis ◽  
The Uk ◽  
The Impact

Objective. To establish the trends in prevalence, and correlates, of roll-your-own (RYO) use in Canada, USA, UK and Australia, 2002–2008.Methods. Participants were 19,456 cigarette smokers interviewed during the longitudinal International Tobacco Control (ITC) Four-Country Survey in Canada, USA, UK, and Australia.Results. “Predominant” RYO use (i.e., >50%of cigarettes smoked) increased significantly in the UK and USA as a proportion of all cigarette use (bothP<.001) and in all countries as a proportion of any RYO use (allP<.010). Younger, financially stressed smokers are disproportionately contributing to “some” use (i.e., ≤50%of cigarettes smoked). Relative cost was the major reason given for using RYO, and predominant RYO use is consistently and significantly associated with low income.Conclusions. RYO market trends reflect the price advantages accruing to RYO (a product of favourable taxation regimes in some jurisdictions reinforced by the enhanced control over the amount of tobacco used), especially following the impact of the Global Financial Crisis; the availability of competing low-cost alternatives to RYO; accessibility of duty-free RYO tobacco; and tobacco industry niche marketing strategies. If policy makers want to ensure that the RYO option does not inhibit the fight to end the tobacco epidemic, especially amongst the disadvantaged, they need to reduce the price advantage, target additional health messages at (young) RYO users, and challenge niche marketing of RYO by the industry.

scholarly journals Income Distribution in Turkey during the Global Financial Crisis

2017 ◽  
Vol 9 (3) ◽  
pp. 91
Author(s):  
Sinem Sefil-Tansever
Keyword(s):  
Financial Crisis ◽  
Income Inequality ◽  
Global Financial Crisis ◽  
Income Source ◽  
Labor Earnings ◽  
Income Sources ◽  
Gini Decomposition ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Earning Inequality

The aim of this study is to examine mechanism responsible for the behavior of the income and earning inequality in Turkey during the global financial crisis based on data from the 2006 to 2014 Income and Living Conditions Survey. Gini decomposition by income source is employed in order to provide an analysis of the contribution of the various income sources to the evolution of income inequality and to assess the impact of a marginal percentage change in the income from a particular source on income inequality. For examining the contributions of specific variables (education, position in occupation, economic sector) to the interpretation of labor earnings inequality in terms of their gross and marginal contribution, we use static decomposition of Theil T index.

scholarly journals Russia and the CIS in 2008: Axis of Authoritarianism??

Asian Survey ◽  
2009 ◽  
Vol 49 (1) ◽  
pp. 135-145 ◽  
Author(s):  
Charles E. Ziegler
Keyword(s):  
Financial Crisis ◽  
Economic Performance ◽  
Domestic Politics ◽  
Global Financial Crisis ◽  
Great Power ◽  
The Caucasus ◽  
Central Asian ◽  
Presidential Succession ◽  
The Global Financial Crisis ◽  
The Impact

Russia's seamless presidential succession produced no major changes in domestic politics or foreign policy. Ties with Asia remained strong, though several key relationships——with China, Japan, and the Central Asian states——frayed under the impact of Russia's military action in Georgia. Impressive economic performance in the first half of the year boosted Russian confidence as a great power, but its vulnerability to the global financial crisis together with the heavy-handed operation in the Caucasus undermined Moscow's standing with both Asia and Europe by the end of the year.

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