scholarly journals Macroprudential Policies, Economic Growth, and Banking Crises

2020 ◽  
Vol 20 (11) ◽  
Author(s):  
Mohamed Belkhir ◽  
Sami Ben Naceur ◽  
Bertrand Candelon ◽  
Jean-Charles Wijnandts
Keyword(s):  
Economic Growth ◽  
Indirect Effects ◽  
Financial Stability ◽  
Function Analysis ◽  
Impulse Response Function ◽  
Banking Crises ◽  
Direct And Indirect Effects ◽  
Macroprudential Policies ◽  
Lower Likelihood ◽  
The Impact

Using a sample that covers more than 100 countries over the 2000-2017 period, we assess the impact of macroprudential policies on financial stability. In particular, we examine whether the activation of macroprudential policies is conducive to a lower incidence of systemic banking crises. Our empirical setup is designed to account for the potential direct and indirect effects that macroprudential policies can have on banking crises. We find that while macro-prudential policies exert a direct stabilizing effect, they also have an indirect destabilizing effect, which works through the depressing of economic growth. A Generalized Impulse Response Function analysis of a dynamic system composed of the probability of a banking crisis and economic growth reveals, however, that macroprudential policies have a positive net effect on financial stability (lower likelihood of systemic banking crises).

scholarly journals DETERMINING THE IMPACT OF TOURISM DEVELOPMENT ON THE CITY ECONOMY

2020 ◽  
Vol 5 (158) ◽  
pp. 32-37
Author(s):  
N. Denysenko
Keyword(s):  
Indirect Effects ◽  
Urban Economy ◽  
Tourism Development ◽  
Tourism Industry ◽  
Economic Effects ◽  
Direct And Indirect Effects ◽  
Tourism Impact ◽  
Goods And Services ◽  
The Impact ◽  
The City

Problems of efficiency of tourism development for the urban economy should be considered on the basis of a systematic approach, which involves the establishment of different criteria and indicators for different levels of government, as well as a hierarchy of goals and corresponding efficiency criteria. Based on the analysis, the article summarizes the concept of "tourist potential of the city". It is determined that the main components of tourist potential are resource, economic and social potential. The main methods of determining the tourist potential are identified, including expert, comparative, cartographic, technological, aesthetic methods of analysis. The directions of tourism impact on the economy of the territory are considered. Direct and indirect effects, as well as induced effects of tourism development are considered separately. The interrelation and interaction of different spheres of the city economy and tourism are shown. In the analysis it is necessary to consider significant sectors of the urban economy: hotel, construction, catering, retail, tour operators, industry, wholesale, housing and communal services, communications, transport, insurance and banking, medicine, education and others. To calculate the gross tourist product, calculate the sum of all costs incurred for the production of tourist goods and services for a certain period. These are the costs of tourist consumption, private and public tourism investments. In addition, calculate the amount of all income from the sale of tourist goods and services for a certain period. This income from the sale of tourist goods and services, income from renting rooms, apartments, etc. The use of a multiplier to determine the impact of tourism development on the city economy is proposed. The calculation of tourism multipliers involves determining the total income from the tourism industry and related infrastructure. Comprehensive assessment allows to identify the economic level of tourism development in the territory, the effect, and is also the basis for justification and management decisions. The study showed that in the modern scientific literature there are several types of multipliers. These are multipliers of income, employment, investment, commercial operations, production and sales. The foreign experience of assessment of social and economic effects from the development of the tourist sphere is analyzed and the possibility of its use in the conditions of Ukraine is substantiated. Keywords: tourist potential of the city, direct and indirect effects, multiplier.

The Impact of US Monetary Policy and Other External Shocks on the Hong Kong Economy

2019 ◽  
pp. 239-260
Author(s):  
Hongyi Chen ◽  
Andrew Tsang
Keyword(s):  
Monetary Policy ◽  
Hong Kong ◽  
Financial Stability ◽  
Mainland China ◽  
External Shocks ◽  
Monetary Policies ◽  
Macroprudential Policies ◽  
Loan Quality ◽  
The Impact ◽  
Us Monetary Policy

This chapter uses the factor-augmented vector autoregression framework to study the impact on the Hong Kong economy of the diverging monetary policies by the Fed, the European Central Bank (ECB), and the Bank of Japan (BoJ), as well as the slowdown of the Mainland economy. The empirical results show that shocks in US monetary policy rate mainly affect interest rate-sensitive sectors in Hong Kong and that monetary easing from the ECB and the BoJ somewhat offsets the impact of tightening of the Fed. Real variables such as real GDP growth and the unemployment rate are more sensitive to the economic slowdown in Mainland China. However, Hong Kong’s financial stability, particularly with regard to loan quality, banks’ capital and liquidity, is well maintained by macroprudential policies, suggesting that Hong Kong’s financial system is resilient to external shocks.

Keep Your Brain Tissue Healthy

2021 ◽  
pp. 27-66
Author(s):  
Charles Alessi ◽  
Larry W. Chambers ◽  
Muir Gray
Keyword(s):  
Physical Activity ◽  
Immune System ◽  
Inflammatory Response ◽  
Stress Reduction ◽  
Indirect Effects ◽  
Cognitive Abilities ◽  
Direct And Indirect Effects ◽  
The Impact ◽  
The Brain

This chapter starts by advising how to reduce the impact of stress. When stress becomes long term, the immune system becomes less sensitive to cortisol, and since inflammation is partly regulated by this hormone, this decreased sensitivity heightens the inflammatory response and allows inflammation to get out of control, increasing our risk of many diseases. You can reduce your stress yourself through a variety of methods, including physical activity and mindfulness-based stress reduction. Adequate sleep is also a major factor that can improve cognitive abilities and reduce the risk of dementia, and this chapter outlines what we need to know about sleep cycles, insomnia, and sleep disordered breathing, and how to sleep more and sleep better. The chapter then covers how to protect your brain from over medication (polypharmacy). It finishes by discussing how to maintain and indeed increase your levels of physical activity, and how increasing physical activity has both direct and indirect effects on the brain.

Report: The World Tourism Organization's Efforts in the Development of a Tourism Satellite Account

1998 ◽  
Vol 4 (3) ◽  
pp. 279-283 ◽  
Author(s):  
Enzo Paci
Keyword(s):  
Indirect Effects ◽  
Direct And Indirect Effects ◽  
National Accounts ◽  
The World ◽  
World Tourism Organization ◽  
Tourism Activity ◽  
Tourism Organization ◽  
The Impact ◽  
The Universe ◽  
Statistical Operation

A tourism satellite account (TSA) is a synthetic statistical operation closely linked to the central core of a country's national accounts, placing an emphasis on tourism activity. It isolates the various items making up economic tourism activity from the universe of national accounts in order to: specify the impact and describe the direct and indirect effects of tourism on the economy; quantify the overall impact of tourism; analyse the relationships between tourism and the rest of the economy; and make it possible to use major qualitative parameters in analysing tourism activity – place of residence, sex, income, duration of stay, etc. This report outlines the efforts of the World Tourism Organization (WTO) to develop a flexible and sustainable framework for the national and international implementation of TSAs.

Measuring the effectiveness of managerial action in SMEs

2007 ◽  
Vol 30 (12) ◽  
pp. 892-914 ◽  
Author(s):  
Glenn A. Metts
Keyword(s):  
Indirect Effects ◽  
Equation Modeling ◽  
Direct And Indirect Effects ◽  
Manufacturing Companies ◽  
Automotive Manufacturing ◽  
Content Type ◽  
Managerial Action ◽  
The Impact ◽  
Competitive Forces ◽  
Strategy Making

PurposeThe paper's purpose is to investigate the direct and indirect effects of industry competitive forces on strategy‐making and performance in small‐to‐medium‐sized manufacturing companies.Design/methodology/approachThe paper's approach is a survey design with structural equation modeling used for hypotheses testing.FindingsThe findings provide strong support for the mitigating role of managerial action through the strategy‐making process and indications that this is true regardless of small‐to‐medium‐sized enterprise (SME) size. Also, automotive‐manufacturing SMEs seem to exhibit higher levels of competitive factors compared with non‐automotive manufacturing SMEs.Research limitations/implicationsThe major limitation of this research is that the survey was taken in the Mid‐western USA and involved only SME manufacturing organizations. The research should be extended to other geographic regions, industry types, and larger organizations.Practical implicationsMany small company managers feel that they have little impact on industry‐wide macro‐economic and industry‐specific forces. This research indicates that managers in SMEs can mitigate some of the negative effects of industry competitive factors through strategy‐making activities.Originality/valueThis research is unique in several ways. It is the only research that has clearly identified and successfully measured the impact of managerial action in SMEs. It demonstrates that managerial action can be measured by comparing the direct and indirect effects of industry competitive forces on performance. It further identifies the need for a self‐assessment tool to measure the effectiveness of managerial action of top managers in SMEs.

scholarly journals The impact of epidemics on agricultural production and forecast of COVID-19

2020 ◽  
Vol 12 (3) ◽  
pp. 409-425 ◽  
Author(s):  
Shurui Zhang ◽  
Shuo Wang ◽  
Lingran Yuan ◽  
Xiaoguang Liu ◽  
Binlei Gong
Keyword(s):  
Indirect Effects ◽  
Agricultural Production ◽  
Negative Impact ◽  
Spillover Effects ◽  
Control Measures ◽  
Growth Accounting ◽  
Direct And Indirect Effects ◽  
Content Type ◽  
Dynamic Panel Model ◽  
The Impact

PurposeThis article investigates the mechanism of the direct and indirect effects of epidemics on agricultural production and projects the impact of COVID-19 on agricultural output in China.Design/methodology/approachThis article first adopts a dynamic panel model and spatial Durbin model to estimate the direct and indirect effects, followed by a growth accounting method to identify the channels by which epidemics affect agriculture; finally, it projects the overall impact of COVID-19 on agriculture.FindingsThe incidence rate of epidemics in a province has a negative impact on that province's own agricultural productivity, but the increase in the input factors (land, fertilizer and machinery) can make up for the loss and thus lead to insignificant direct effects. However, this “input-offset-productivity” mechanism fails to radiate to the surrounding provinces and therefore leads to significant indirect/spillover effects. It is projected that COVID-19 will lower China's agricultural growth rate by 0.4%–2.0% in 2020 under different scenarios.Research limitations/implicationsIt is crucial to establish a timely disclosure and sharing system of epidemic information across provinces, improve the support and resilience of agricultural production in the short run and accelerate the process of agricultural modernization in the long run.Originality/valueConsidering the infectivity of epidemics, this article evaluates the mechanism of the direct and indirect effects by introducing a spatial dynamic model into the growth accounting framework. Moreover, besides the impact on input portfolio and productivity, this article also investigates whether epidemics reshape agricultural production processes due to panic effects and control measures.

Direct and Indirect Effects of Socioeconomic Status on Public Affairs Knowledge

1994 ◽  
Vol 71 (2) ◽  
pp. 433-442 ◽  
Author(s):  
Douglas M. McLeod ◽  
Elizabeth M. Perse
Keyword(s):  
Socioeconomic Status ◽  
News Media ◽  
Indirect Effects ◽  
Media Use ◽  
Public Affairs ◽  
Direct And Indirect Effects ◽  
Perceived Utility ◽  
The Impact ◽  
Lisrel Model

This study investigates the impact of socioeconomic status (SES), perceived utility indicators, and news media use on public affairs knowledge. A LISREL model was used to evaluate various theoretical arguments that have been used to account for public affairs knowledge. Results reveal that SES was significantly linked to knowledge through each of the aforementioned factors. In addition, we located a strong direct SES effect on public affairs knowledge.

scholarly journals PENGARUH PENANAMAN MODAL ASING TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA

Media Ekonomi ◽  
2016 ◽  
Vol 24 (1) ◽  
pp. 63
Author(s):  
Fajar Bimantoro ◽  
Mona Adriana S
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Financial Crisis ◽  
Direct Investment ◽  
Global Financial Crisis ◽  
Consumer Price Index ◽  
Impulse Response Function ◽  
Short Term ◽  
The Impact

<em>The present study aimed to analyze the relationship between the level of foreign direct investment to Indonesia's economic growth in the period 1991-2014.Fokus of the present study was to analyze the short-term relationship between foreign direct investment and economic growth Indonesia. In addition, along with the financial crisis 2008 global bit much negative of Indonesia affected by the global economic slowdown due to the crisis. This prompted the present study was to also perform forecasting of the impact of global financial crisis on foreign direct investment and relation to economic growth. To answer these questions, this research chose VAR Vector Auto Regression or as a method to answer the research questions. Gross Domestic Product (GDP), Consumer Price Index, BI rate, and the Exchange Rate, the variables used in this research. The estimation results of the VAR indicate that direct investment from abroad did not have an impact on economic growth in the long term but has a strong bond in the short term against the growth of economics. This indicates that foreign investment into Indonesia increasingly quality in promoting economic growth. In addition, the results of forecasting using impulse response function indicates there will be the tendency of a decrease in the level of foreign direct investment and economic growth in Indonesia.</em>

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