scholarly journals FINANCIAL VULNERABILITY AND INCOME INEQUALITY: NEW EVIDENCE FROM OECD COUNTRIES

2019 ◽  
Vol 21 (3) ◽  
pp. 395-408 ◽  
Author(s):  
Nicholas Apergis
Keyword(s):  
Income Inequality ◽  
Financial Stability ◽  
Negative Impact ◽  
Oecd Countries ◽  
Stability Conditions ◽  
Real Economy ◽  
Financial Vulnerability ◽  
Panel Garch ◽  
First Time ◽  
New Evidence

This study explores, for the first time, how financial vulnerability affects incomeinequality across OECD countries, from 1990 to 2015. The empirics use a new financialvulnerability index constructed by Adrian and Duarte (2016). Through the methodologyof their modeling approach, panel GARCH and GMM methods, the findings indicatethat financial vulnerability exerts a negative impact on income equality conditions.The results survive certain definitions of income inequality and corruption, whilethey highlight the importance of financial stability conditions, with potential furtherrepercussions to the real economy.

scholarly journals Corruption, Provincial Institutions and Capital Structure: New Evidence From a Transitional Economy

2017 ◽  
Vol 8 (1) ◽  
pp. 105-117 ◽  
Author(s):  
Le Trung Thanh
Keyword(s):  
Capital Structure ◽  
Negative Impact ◽  
Positive Influence ◽  
Bank Loans ◽  
Short Term ◽  
Robust Tests ◽  
First Time ◽  
New Evidence

Using a unique firm-provincial level panel dataset from 2005 to 2011, this study for the first time investigates the role played by corruption and provincial institutions in determining a company’s capital structure in Vietnam’s legal environment. Contrasting to the majority of previous studies, the results show that corruption has an insignificant influence on a company’s bank loans, consistent with institutional theory. However, the role of corruption is different for types of various capital structures after controlling for both unobservable characteristics and endogeneity problems. More specifically, corruption has significantly positive influence on short-term capital structure, but a negative impact on long-term loans. All of these results hold after a series of robust tests.  

Aleksey Peshkov as an editor of Samarskaya Gazeta

2020 ◽  
pp. 128-138
Author(s):  
A. S. Bik-Bulatov
Keyword(s):  
Local History ◽  
Organizational Skills ◽  
First Time ◽  
New Evidence ◽  
Insight Into ◽  
Shed Light

The article uses little known letters of M. Gorky, many of which were published for the first time in 1997, as well as findings of Samara-based experts in local history to shed light on the writer’s work as editor-in-chief of the Samarskaya Gazeta newspaper in 1895. The researcher introduces hitherto unstudied reminiscences of the journalist D. Linyov (Dalin) about this period, which reference a letter by Gorky, now lost. The paper details a newly discovered episode of Gorky’s professional biography as a journalist: it concerns his campaign against a Samara ‘she-wolf,’ the madam of a local brothel A. Neucheva. Linyov’s reminiscences turn out to be an important and interesting source, offering an insight into the daily grind of the young editor Gorky, providing new evidence of his excellent organizational skills, and describing his moral and social stance. The author presents his work in the context of a recently initiated broader discussion about the need to map out all Russian periodicals for the period until 1917, as well as all research devoted to individual publications.

On the Major Differences between the Banking Systems of the EAEU States

2020 ◽  
Vol 26 (4) ◽  
pp. 397-406
Author(s):  
T. E. Chekanova
Keyword(s):  
Financial Stability ◽  
Systems Approach ◽  
Negative Impact ◽  
Banking Regulation ◽  
Member States ◽  
Banking Systems ◽  
Significant Negative Impact ◽  
The Difference ◽  
The Government ◽  
Major Factors

The presented study examines the problems of integration of the national banking systems of the member states of the Eurasian Economic Union (EAEU).Aim. The study aims to examine the major differences in various aspects of functioning of banking systems in the EAEU member states in terms of their impact on integration processes.Tasks. The author identifies the most prominent features of the banking systems of the EAEU states; reveals the depth of the existing differences through a comparative analysis of various indicators of national banking systems; outlines ways of overcoming integration problems associated with differences in the banking sectors of the Union states.Methods. This study is based on universal general scientific methods and elements of comparative, functional, and economic analysis within the framework of a systems approach. The author uses regulatory documents and banking reports of the EAEU states, statistical and analytical materials of the Eurasian Economic Commission (EEC), and data of Moody’s international rating agency.Results. The study identifies a number of aspects that contain the major differences in the functioning of banking systems in the EAEU member states; highlights the disproportions in the scale, level of development, financial stability, and risks of the banking spheres of the Union states; comparatively analyzes the proportion of banking and non-banking structures in the system and the share of the government and non-resident companies in the capital of banks; marks the difference in the pricing of banking services; determines differences in the existing approaches to banking regulation and the established standards; analyzes the major differences in the legislative acts of the central banks and governments of the EAEU member states and in the terms and definitions used. According to the results of the study, the major factors hindering the development of integration processes between the banking systems of the EAEU states are identified.Conclusions. The existing differences between the banking systems of the EAEU countries are diverse and multifaceted. The author states that the aspects addressed in this study have a significant negative impact on the further development of integration processes, describing the major directions and actions of the member states aimed at minimizing the exiting differences, which are required to facilitate the convergence of the states and the transition towards a common financial market.

Money growth variability and output: evidence with credit card-augmented Divisia monetary aggregates

2020 ◽  
Vol 24 (5) ◽  
Author(s):  
Jinan Liu ◽  
Apostolos Serletis
Keyword(s):  
Financial Stability ◽  
Credit Card ◽  
Negative Impact ◽  
Balance Sheet ◽  
Credit Cards ◽  
Money Growth ◽  
Monetary Policies ◽  
Growth Variability ◽  
Significant Negative Impact ◽  
Growth Volatility

Abstract We reexamine the effects of the variability of money growth on output, raised by Mascaro and Meltzer (1983), in the era of the increasing use of alternative payments, such as credit cards. Using a bivariate VARMA, GARCH-in-Mean, asymmetric BEKK model, we find that the volatility of the credit card-augmented Divisia M4 monetary aggregate has a statistically significant negative impact on output from 2006:7 to 2019:3. However, there is no effect of the traditional Divisia M4 growth volatility on real economic activity. We conclude that the balance sheet targeting monetary policies after the financial crisis in 2007–2009 should pay more attention on the broad credit card-augmented Divisia M4 aggregate to address economic and financial stability.

scholarly journals New evidence of arsenic translocation and accumulation in Pteris vittata from real-time imaging using positron-emitting 74As tracer

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Yi Huang-Takeshi Kohda ◽  
Zhaojie Qian ◽  
Mei-Fang Chien ◽  
Keisuke Miyauchi ◽  
Ginro Endo ◽  
...  
Keyword(s):  
Imaging System ◽  
Pteris Vittata ◽  
Long Distance ◽  
Long Distance Transport ◽  
Hydroponic Cultivation ◽  
Tracer Imaging ◽  
Serial Images ◽  
First Time ◽  
New Evidence ◽  
Hyperaccumulator Plant

AbstractPteris vittata is an arsenic (As) hyperaccumulator plant that accumulates a large amount of As into fronds and rhizomes (around 16,000 mg/kg in both after 16 weeks hydroponic cultivation with 30 mg/L arsenate). However, the sequence of long-distance transport of As in this hyperaccumulator plant is unclear. In this study, we used a positron-emitting tracer imaging system (PETIS) for the first time to obtain noninvasive serial images of As behavior in living plants with positron-emitting 74As-labeled tracer. We found that As kept accumulating in rhizomes as in fronds of P. vittata, whereas As was retained in roots of a non-accumulator plant Arabidopsis thaliana. Autoradiograph results of As distribution in P. vittata showed that with low As exposure, As was predominantly accumulated in young fronds and the midrib and rachis of mature fronds. Under high As exposure, As accumulation shifted from young fronds to mature fronds, especially in the margin of pinna, which resulted in necrotic symptoms, turning the marginal color to gray and then brown. Our results indicated that the function of rhizomes in P. vittata was As accumulation and the regulation of As translocation to the mature fronds to protect the young fronds under high As exposure.

scholarly journals Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Pen Social Innovation of the Islamic Financial System

2021 ◽  
Vol 7 (2) ◽  
pp. 136
Author(s):  
Mustafa Raza Rabbani ◽  
Abu Bashar ◽  
Nishad Nawaz ◽  
Sitara Karim ◽  
Mahmood Asad Mohd. Ali ◽  
...  
Keyword(s):  
Financial Services ◽  
Open Innovation ◽  
Financial Stability ◽  
Social Innovation ◽  
Global Financial Crisis ◽  
Financial System ◽  
Real Economy ◽  
Business Context ◽  
The World

The purpose of the current study is to investigate the role of the Islamic financial system in recovery post-COVID-19 and the way Fintech can be utilized to combat the economic reverberations created by COVID-19. The global financial crisis of 2008 has established the credentials of the Islamic financial system as a sustainable financial system which can save the long run interests of the average citizens around the world while adding value to the real economy. The basic ethical tenets available in the Islamic financial system make it more suited and readymade to fight the economic aftershocks of a pandemic like COVID-19. The basic principles of ethical Islamic finance have solid connections to financial stability and corporate social responsibility within the wide-reaching business context. With the emergence of Financial technology (Fintech) it has provided a missing impetus to the Islamic financial system to compete on equal ground with its conventional counterpart and prove its mettle. The study uses discourse analysis along with the content analysis to extract content and draw a conclusion. The findings of the study indicate that COVID-19 pandemic has provided the opportunity for the social and open innovation to grow and finance world have turned to open innovation to provide a speedy, timely, reliable, and sustainable solution to the world. The findings of the study provide significant implications for governments and policy makers in efficient application of Fintech and innovative Islamic financial services to fight the economic consequences of the COVID-19 pandemic.

Inequality Overhang: A Heterogeneous Approach

2019 ◽  
pp. 106-133
Author(s):  
Francesco Grigoli ◽  
Adrian Robles
Keyword(s):  
Economic Development ◽  
Income Inequality ◽  
Shock Absorber ◽  
Negative Impact ◽  
Empirical Literature ◽  
Debt Overhang ◽  
Positive Side ◽  
Low Levels ◽  
The Relationship ◽  
Income Concentration

The linearity of the relationship between income inequality and economic development has been long questioned. While theory provides arguments for which the shape of the relationship may be positive for low levels of inequality and negative for high ones, most of the empirical literature assumes a linear specification finding conflicting results. Employing an innovative empirical approach, robust to endogeneity, we find pervasive evidence of nonlinearities. In particular, similar to the debt-overhang literature, we identify an inequality-overhang level, in that the slope of the relationship between income inequality and economic development switches from positive to negative at a net Gini coefficient of about 27 per cent. We also find that in an environment characterized by widespread financial inclusion and high income concentration, rising income inequality has a larger negative impact on economic development because banks may curtail credit to customers at the lower end of the income distribution. On the positive side, a sufficiently high female labor participation can act as a shock absorber reducing such a negative impact, possibly through a more efficient allocation of resources.

Hitherto Unprinted Manuscripts of the Middle English Ipotis

PMLA ◽  
1916 ◽  
Vol 31 (1) ◽  
pp. 114-160
Author(s):  
Josephine D. Sutton
Keyword(s):  
Middle English ◽  
Fourteenth Century ◽  
English Poem ◽  
Relationship Of ◽  
First Time ◽  
New Evidence ◽  
The Relationship

The relationship of the manuscripts of the Middle-English poem Ipotis has been studied in detail by Dr. Hugo Gruber on the basis of the nine mss. known to him. In addition to these there are five others, four of which are printed for the first time below. One of these, unfortunately a fragment, is of the greatest importance, since it carries back the date of the poem at least fifty years. On the basis of the earliest manuscript known to him—ms. Vernon, written about 1385—Gruber assigned the Ipotis to the second half of the fourteenth century. But in the light of the new evidence, the composition of the poem is pushed back to the very beginning of the century.

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