Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008–09?

2012 ◽  
Author(s):  
Harun Alp ◽  
Selim Ali Elekdag ◽  
Subir Lall
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Financial Crisis Of 2008 ◽  
The Global Financial Crisis ◽  
The Impact

Tourism Resilience Patterns in Southern Europe

2020 ◽  
Vol 25 (4) ◽  
pp. 409-424
Author(s):  
Beatriz Benítez-Aurioles
Keyword(s):  
Financial Crisis ◽  
Competitive Advantage ◽  
Global Financial Crisis ◽  
Southern Europe ◽  
Tourism Demand ◽  
Financial Crisis Of 2008 ◽  
Tourism Policy ◽  
The Global Financial Crisis ◽  
The Impact

This article studies the patterns of tourism resilience, understood as the capacity to recover tourism demand, which has characterized Spain, Greece, Italy, and Portugal after the impact of the global financial crisis of 2008 and 2009. A shift-share analysis will allow us to decompose the growth of nonresident tourist arrivals to hotels and similar establishments originating from markets outside these four countries in 2009–2016. The technique used allows us to classify the markets according to the competitive advantage or specialization demonstrated by each country. The results reveal some similarity in resilience patterns in tourism between Portugal and Spain, whereas Italy and Greece maintain their own singularities. In this context, some ideas are suggested for the design of a tourism policy that makes the most of the potential of each country.

scholarly journals Creditor rights, monetary policy, financial crisis, and trade credit

2021 ◽  
pp. 234094442098829
Author(s):  
María Cantero-Saiz ◽  
Begoña Torre-Olmo ◽  
Sergio Sanfilippo-Azofra
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Trade Credit ◽  
Global Financial Crisis ◽  
Jel Classification ◽  
Creditor Protection ◽  
Credit Channel ◽  
Creditor Rights ◽  
Financial Crisis Of 2008 ◽  
The Global Financial Crisis

This article analyses how creditor rights affect the trade credit channel of monetary policy. We also aim to test whether these effects were conditioned by the global financial crisis of 2008. Using a sample of 15,356 firms from 29 countries (2001–2017), we found that in normal times or in countries not very severely affected by the financial crisis, trade credit receivables increase during monetary restrictions. Moreover, this increase is less pronounced as creditor protection strengthens. In countries strongly affected by the financial crisis, however, trade credit receivables do not react or even decrease after monetary expansions, regardless of the degree of creditor protection. Furthermore, the results of trade credit payables and net trade credit are not conclusive. JEL CLASSIFICATION: E52; K22; G32

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