Credit and the Labour Share: Evidence from US States

2020 ◽  
Vol 130 (630) ◽  
pp. 1782-1816 ◽  
Author(s):  
Aslı Leblebicioğlu ◽  
Ariel Weinberger
Keyword(s):  
Financial Development ◽  
Financial Frictions ◽  
Us States ◽  
Banking Deregulation ◽  
Interstate Banking ◽  
Percentage Points ◽  
Labour Share ◽  
The Us ◽  
The Relationship

Abstract We investigate the role of credit markets as a cause for changes in the US labour share. Causal evidence is provided that the labour share declined between 0.8 and 1.2 percentage points following the interstate banking deregulation, explaining more than half of the overall reduction during that period. The lower costs of credit and greater bank competition in each state are mechanisms that led to the decline. To quantify the relationship between credit and factor payments, we calibrate a model with financial frictions and highlight financial development as a potential channel for the reduction in labour share observed globally.

scholarly journals Внешняя политика США в восприятии и оценках современного американского общества

2020 ◽  
Vol 46 (2) ◽  
pp. 57-66
Author(s):  
Лариса ГАРУСОВА
Keyword(s):  
Foreign Policy ◽  
Republic Of China ◽  
The Past ◽  
Strategic Approach ◽  
The Us ◽  
Informational Basis ◽  
American Research ◽  
American Society ◽  
The Relationship

Анализируется взаимосвязь и корреляция современной внешнеполитической стратегии США с общественной рефлексией на неё. Информационной основой работы являются результаты социологических опросов ведущих американских исследовательских центров, статистические данные, статьи, официальные документы. Прослежена связь официальных внешнеполитических доктрин и мнения американских граждан в отношении России и Китая. Выявлена корреляция между усилением антикитайских настроений в США за последние два года и появлением новой официальной стратегии Вашингтона в отношении КНР («Стратегический подход США к КНР») от 20 мая 2020 г. внешняя политика, США, стратегия, рефлексия, общественное мнение, Россия, Китай, национальная безопасность This article analyzes the relationship and correlation of the US modern foreign policy strategy with public reflection on it. Washington's active foreign policy and US claims to the role of world leader are supported by American society in recent decades. The informational basis of this work is the analysis of the sociological surveys of leading American research centers, statistics, academic articles, as well as official documents on the studied issues. The study revealed the peculiarities of the perception of traditional and new threats to national and international security by the American elite and society. The author traces the connection between official foreign policy doctrines and the opinions of American citizens regarding Russia and China. A correlation was found between the strengthening of anti-Chinese sentiment in the US over the past two years and the appearance of a new official strategy of Washington towards the PRC (“United States Strategic Approach to The People’s Republic of China”) in May 20, 2020. foreign policy, USA, strategy, reflection, public opinion, Russia, China, national security

Financial Development and Economic Growth

2015 ◽  
pp. 233-245
Author(s):  
Filiz Eryılmaz ◽  
Hasan Bakır ◽  
Mehmet Mercan
Keyword(s):  
Economic Growth ◽  
Data Analysis ◽  
New Zealand ◽  
Financial Development ◽  
Positive Relationship ◽  
Panel Data Analysis ◽  
Annual Data ◽  
The Subject ◽  
The Relationship

The relationship between financial development and economic growth has been the subject of considerable debate in development and growth literature. Therefore this chapter provides evidence on the role of financial development in accounting for economic growth in 23 OECD countries (Italy, Japan, Luxemburg, Holland, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, England, USA, Australia, Austria, Belgium, Canada, Denmark, Finland, Turkey, France, Germany, Greece, Iceland) via panel data analysis using the annual data for the period 1980-2012. The authors find a positive relationship between financial development and economic growth for all countries. Also this result means that financial development leads economic growth in these countries. So the results may help policymakers formulate effective financial sector policies as a tool to promote economic growth.

Effects of culture and social cynicism on anxious attachment transference from mother to partner

2013 ◽  
Vol 41 (8) ◽  
pp. 1253-1265
Author(s):  
Yueran Wen ◽  
Liu Liu ◽  
Chunyong Yuan
Keyword(s):  
Hong Kong ◽  
Attachment Style ◽  
Cultural Groups ◽  
Anxious Attachment ◽  
Cultural Variables ◽  
The Us ◽  
Social Cynicism ◽  
The Relationship ◽  
Attachment To Mother

We examined the role of culture and social cynicism beliefs in the transference of an anxious attachment style from mother to romantic partner among a group of undergraduates from the US (n = 200) and Hong Kong (n = 147). The results showed that anxious attachment to mother and to partner was moderately correlated among both cultural groups. However, social cynicism beliefs were found to moderate the relationship between anxious attachment to mother and attachment to partner among U.S. but not Hong Kong Chinese participants. This observed differential effect of social cynicism beliefs could be explained by differences in self-direction values across the 2 cultural groups. The findings in the study are of theoretical significance as they provide insights for further research on the influences of cultural variables and personal beliefs on attachment transference.

Derivatives, Money, Finance and Imperialism: A Response to Bryan and Rafferty

2013 ◽  
Vol 21 (2) ◽  
pp. 149-168 ◽  
Author(s):  
Tony Norfield
Keyword(s):  
World Economy ◽  
Financial Trading ◽  
The Us ◽  
Commodity Money ◽  
Financial Derivative ◽  
The Uk ◽  
Derivatives Markets ◽  
Relationship Of ◽  
The Relationship

Abstract This paper contributes to the debate on the role of financial derivatives for capitalism. It responds to Bryan and Rafferty’s defence of their analysis and their critique of my own. The paper argues that their analysis confuses what a financial derivative does, and mixes together different kinds of derivative – and non-derivative – that play very different roles. After detailing these points, the paper discusses the relationship between gold, money and derivatives, rejecting their notion that derivatives are some kind of new ‘commodity money’. An important theme absent from Bryan and Rafferty’s analysis is the relationship of financial trading and derivatives markets to parasitism in the imperialist world economy. To illustrate this, the paper notes advantages enjoyed by the major financial powers – the US and the UK – that are the main centres for the origination of derivatives and for derivatives trading.

scholarly journals Institutions and development in MENA region: evidence from the manufacturing sector

2015 ◽  
Vol 42 (8) ◽  
pp. 717-732 ◽  
Author(s):  
Mahmoud Arayssi ◽  
Ali Fakih
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Political Institutions ◽  
Civil Law ◽  
Institutional Setting ◽  
Mena Region ◽  
Content Type ◽  
Determinants Of Economic Growth ◽  
The Relationship

Purpose – The purpose of this paper is to study the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the Middle East and North Africa region. Design/methodology/approach – This paper examines the implications of industrial firm-related and national factors for the determinants of economic growth using panel data through a fixed effect model. Findings – The results reveal that English civil law origin and the establishment of the rule of law work with the development of financial institutions to increase economic growth in these economies; however, the democratization of the political institutions and foreign direct investment do not assist financial development in promoting economic growth. Research limitations/implications – Data covered is limited to four years. Social implications – The findings emphasize the prominence of overcoming institutional weaknesses and establishing transparent public policy governing businesses as a pre-requisite for successful universal integration in developing countries. Originality/value – This paper contributes to the literature on the relationship between finance and economic growth in two aspects. First, the authors focus on the contribution of the institutional setting and its interaction with the financial development and how this affects economic growth of the manufacturing firms. Second, the authors explore the relationship between the role of institutions, governance, the country civil law origin and the economic growth.

scholarly journals Kindergarten Obesity and Academic Achievement: The Mediating Role of Weight Bias

2021 ◽  
Vol 12 ◽  
Author(s):  
Baeksan Yu
Keyword(s):  
Academic Achievement ◽  
Weight Bias ◽  
Fifth Grade ◽  
Latent Growth ◽  
Weight Discrimination ◽  
Mediating Role ◽  
The Us ◽  
Mediating Mechanisms ◽  
The Relationship

This study draws the attention towards the importance of reducing weight discrimination against children for their educational success, as an issue of social justice. We investigate the consequences of early-onset obesity identifying the mediating mechanisms in the relationship between childhood obesity and academic achievement. To do so, we employ the Early Childhood Longitudinal Study-Kindergarten Cohort (kindergarten to fifth grade) in the US (ECLS-K: 2011) and apply a parallel process latent growth model with a combination of quasi-experiments and econometrics. The results of this study suggest that teachers may serve as a significant source of weight bias, especially for girls (B = −0.09, 95% BC CI [−2.37 to −0.46]).

scholarly journals Financial Development And Growth In Middle Eastern Countries

2010 ◽  
Vol 9 (11) ◽  
Author(s):  
Mounther Barakat ◽  
Edward Waller
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Development ◽  
Financial Intermediation ◽  
Middle Eastern ◽  
Banking System ◽  
Specific Factors ◽  
The Relationship

This paper studies the relationship between financial intermediation and economic growth in a sample of Middle Eastern countries.  The results are consistent with the hypothesis that a well-functioning banking system promotes economic growth.  Moreover, the results suggest that market-specific factors may hinder financial markets’ ability to play hypothesized roles, while enhancing the role of intermediaries.  The paper’s general conclusion is that financial development does affect economic growth.  However, market specific factors affect the magnitude and significance of this effect.  The implication is that studies should control for market-specific factors to assess the relationship between financial development and growth.

scholarly journals Agricultural Financial Market In Uzbekistan, Its Condition And Perspectives For Small And Medium Size Businesses

2011 ◽  
Vol 3 ◽  
Author(s):  
Dilbar Khalmirzaeva
Keyword(s):  
Financial Development ◽  
Financial Market ◽  
Agricultural Sector ◽  
Market Development ◽  
Medium Size ◽  
Agrarian Sector ◽  
Financial Market Development ◽  
The Relationship ◽  
Research Show

The aim of this paper is to analyze the relationship between financial market development and agricultural sector in Uzbekistan. Research tries to answer these questions an empirical way and tries to clear questions in a role of financial development as also other variables in agrarian sector. Results of this research show that the financial market in agrarian sector has some weak places. 

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