financial systems
Recently Published Documents


TOTAL DOCUMENTS

1067
(FIVE YEARS 266)

H-INDEX

39
(FIVE YEARS 6)

Complexity ◽  
2022 ◽  
Vol 2022 ◽  
pp. 1-16
Author(s):  
Enkeleda Lulaj ◽  
Ismat Zarin ◽  
Shawkat Rahman

Today, the risk management of budget challenges throughout the budget process is greater than ever. The process of change has been driven by new information and communication technologies, resulting in e-government. The purpose of this scientific paper is to see whether budgetary challenges have an effect on the performance of e-government in complex financial systems based on factors F1, F2, F3, F4, and F5: lack of information, lack of cooperation, lack of resources and reduction of focus, lack of budget experts and financial stability, and shortcomings and inconsistencies during the budget process. Therefore, this study aims to advance the understanding of how to manage risks from budgetary challenges by focusing on a novel approach to improve e-government performance in complex financial systems. Empirical research was based on three key issues: an approach to e-government, analyzing which variables need more attention to risk, and learning how to meet budgetary challenges to improve performance during governance. For this study, the data were conducted by Kosovo’s public institutions, more specifically at the central level (Ministry of Finance) and at the local level (38 municipalities of Kosovo). A total of 38 questionnaires were analyzed and divided into three sessions, which were analyzed through three analyses, such as factor analysis, data reliability analysis, and multiple regression analysis, using SPSS version 23.0 for Windows. The research was conducted over the years 2017, 2018, 2019, and 2020, while the analysis involved several processes, where some of the factors were removed in order to make the model acceptable. In this case, 21 variables were tested and divided into 5 factors. The results showed that special attention should be paid to these factors to reduce budgetary challenges and increase the performance of e-government in complex financial systems, such as (a) lack of resources (staff, funds, infrastructure, tools, etc.), (b) increasing the focus on risk management even after the transfer of funds from the ministry to the municipality, (c) the selection of programs based on priorities and not on the basis of wishes and policies, (d) having political stability, rule of law, and more control, and (e) having regulations and guidelines from the practices of developed countries as well as taking into account the opinions of budget experts. The implications of this paper have to do with only a considerable number of variables, which were taken in the study as well as only in the municipalities of Kosovo. In this case, for other analyses by other researchers, other variables can be analyzed in other countries by making comparisons.


2022 ◽  
pp. 288-314
Author(s):  
Ibrahim Cravid dos Prazeres ◽  
Maria Raquel Lucas ◽  
Ana Alexandra Marta-Costa

In the last decades, the focus of studies on cocoa value chain (CVC) has changed from the low income of farmers and the shortcomings of the educational and financial systems to the incorporation of innovations, supported on sustainability principles. However, classical theories based on economics are insufficient to understand sustainability phenomenon, and the investigation in the field is still dispersed. This study represents one first attempt to synthesize findings on the topic, in line with the triple bottom line (TBL) scenarios. TBL provides a useful framework to understand the social, economic, and environmental aspects along the CVC. This chapter performs a systematic literature review on sustainability scenarios applied to CVC, each one representing one of the three dimensions of sustainability. At the final, an agenda for future research on the topic is suggested, uncovering a set of future study propositions.


2022 ◽  
pp. 77-91
Author(s):  
Patrizio Giganti ◽  
Pasquale Marcello Falcone

Transitioning towards sustainability requires fundamental changes in policies, institutions. Green Finance is a novel concept which is discussed to address current environmental issues. This chapter illustrates obstacles and solutions to the greening of financial systems to provide an overview on the scaling up of Green Finance in a post COVID-19. The frameworks of Strategic Niche Management and Multi-Level Perspective are used to walk the reader in analyzing relevant steps for sustainability, also in light of the COVID-19 pandemic. Implications are derived focusing on the concepts of mission-oriented policies and nudges applied to financial markets.


2022 ◽  
pp. 94-132
Author(s):  
Cristina Raluca Gh. Popescu

The COVID-19 pandemic shock made nations worldwide seek support in different forms of international cooperation, realizing that strength is derived from countries' capacities to unite their forces and act together in times of crisis. Faced with the perspective of the COVID-19 crisis consequences, states have to adapt, focusing on implementation of robust managerial strategies and concentrating attention on ensuring strong financial systems. Given that, on the one hand, in the attempt to provide a healthy life and sustainable development, a balance needs to be established in terms of environmental, social, and corporate governance; and, on the other hand, in the quest to guarantee fair and transparent tax systems, a minimum global tax rate should be implemented. Likewise, in the new economy, the knowledge-based economy, the digitalized economy, business organizations should act in the spirit of sustainability while centering their efforts on efficiency, productivity, profitability, and performance and benefiting from the impressive advantages provided by intangible assets.


2021 ◽  
pp. 1-45
Author(s):  
Joshua Blumenstock ◽  
Michael Callen ◽  
Tarek Ghani ◽  
Robert Gonzalez

Abstract We provide evidence that violence reduces the adoption and use of mobile money in three separate empirical settings in Afghanistan. First, analyzing nationwide mobile money transaction logs, we find that users exposed to violence reduce use of mobile money. Second, using panel survey data from a field experiment, we show that subjects expecting violence are significantly less likely to respond to random inducements to use mobile money. Finally, analyzing nationwide financial survey data, we find that individuals expecting violence hold more cash. Collectively, this evidence suggests that violence can impede the growth of formal financial systems.


2021 ◽  
Vol 26 (4) ◽  
pp. 401-405
Author(s):  
Alexandru-Cosmin Dumitru

Abstract This article focuses on the analysis of the potential of virtual currencies to contribute to global economic development, given their innovative characteristics and their rapid increase in popularity. This article intends to fill the gap in understanding the characteristics and the risks of the emergence of virtual currencies as part of the global financial systems. There is a huge potential of the new currencies backed by blockchain technology, to develop the existing payment systems and upgrade them, as they represent an innovative form of money with increased security of the transactions. For instance, the central banks of some of the world financial leaders, such as the US, UK, China, etc. have been experimenting with the possibility of integrating the technology behind the virtual currencies into the internal payment systems. In this sense, the governments are also working on creating a better legal framework to improve the recognition, licensing and registration of virtual currencies as an official form of payment, and also creating a better control mechanism of the new currency (Vejacka, 2014).


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nuno Moutinho ◽  
Carlos Francisco Alves ◽  
Francisco Martins

Purpose This study aims to analyse the effect of borrower’s countries on syndicated loan spreads, featuring countries according to institutional factors, namely, financial systems and corporate governance systems. Design/methodology/approach This study is an empirical investigation based on a unique sample of more than 85,000 syndicated loans from 122 countries. The paper uses standard and two-stage least squares regression analysis to test whether the types of financial and corporate governance systems affect loan spreads. Findings The paper finds that borrowers from countries with financial systems oriented towards the banking-based paradigm pay lower interest rate spreads than those from countries with financial systems oriented towards the market-based paradigm. In addition, there is evidence that borrowers from countries with more developed financial systems pay lower spreads. The results also show that borrowers from countries with an Anglo-Saxon governance system pay higher spreads than borrowers from countries with a Continental governance system. Research limitations/implications This study does not consider potential promiscuous relationships that can arise at the ownership structure and governance level between banks and borrowers and may affect loan spreads. Practical implications This study suggests that financial and corporate governance systems are essential factors in the financial intermediation process. Furthermore, the evidence indicates that corporates with higher potential agency costs and higher potential information asymmetry are requested to pay higher spreads. Therefore, the opportunities to such corporates invest optimally tend to be scarcer. Originality/value The paper highlights the impact of institutional factors on the cost of financing, characterising the countries according to the type of financial system and the type of corporate governance system. The study finds that borrowers from countries with bank-based financial systems pay lower interest rate spreads than those from countries with market-based financial systems. The paper also highlights how the level of financial development affects the cost of financing. The paper focusses on non-financial firms, unlike financial firms, which have been the focus of several empirical studies on topics relating to the cost of funding and corporate governance.


2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Mazen Dawood Salman ◽  
Amr Hisham Mohammed ◽  
Hakeem Hammood Flayyih

The ability to monitor the integrity of the financial sector assumes that there are valid indicators for detecting the integrity and stability of financial systems, including partial indicators and indicators of macro-prudence; and pressure tests to measure the resilience of financial systems to shocks. The research aims to review the most important financial safety indicators applied by the Central Bank of Iraq, focusing on applying some indicators to both the banking system on the one hand and a sample of Iraqi banks. The research reached several conclusions, the most important of which is the commitment of the Central Bank of Iraq to international standards such as Basel II, which requires some Iraqi banks to develop their banking methods to pursue banking developments and global standards. Capital adequacy ratios in the Iraqi banking system as a whole and private banks, unlike the government, have also increased, although the latter has achieved relatively high and acceptable levels of more than 12% according to this standard.


Sign in / Sign up

Export Citation Format

Share Document