The Impact of Population Aging on Financial Market Structures and Policy Implications

2017 ◽  
Author(s):  
Deok Ryong Yoon ◽  
Dong-Eun Rhee
Keyword(s):  
Financial Market ◽  
Population Aging ◽  
Policy Implications ◽  
Market Structures ◽  
The Impact

Identifying asymmetric responses of sectoral equities to oil price shocks in a NARDL model

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Abderrazak Dhaoui ◽  
Julien Chevallier ◽  
Feng Ma
Keyword(s):  
Interest Rate ◽  
Financial Market ◽  
Oil Prices ◽  
Oil Price ◽  
Policy Implications ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Asymmetric Responses ◽  
The Impact ◽  
Nardl Model

AbstractThis study examines the asymmetric responses of sector stock indices returns to positive and negative fluctuations in oil prices using the NARDL model. Our empirical findings support indirect transmissions of oil price fluctuation to the financial market through industrial production and short-term interest rate. Furthermore, both direct and indirect impacts of oil price shocks on stock returns are sector dependent. These results are with substantial policy implications either for investors or for policymakers. They mainly help government authorities to reduce the instability in financial markets caused by the major oil price shocks. The analysis of the impact of oil price shocks on stock markets also helps the financial market participants to adjust their decisions and revise their coverage of energy policy that is substantially affected by the turbulence and uncertainty in the crude oil market. Finally, based on the forecast of the oil price shocks effects, the central bank should adjust the interest rate in order to face up to the inflation rate induced by oil prices since oil prices act as an inflationary factor.

scholarly journals The Impact of Population Ageing: A Review

2021 ◽  
Author(s):  
Zainab Ismail ◽  
Wan Ibrahim Wan Ahmad ◽  
Salasiah Hanin Hamjah ◽  
I Komang Astina
Keyword(s):  
Developing Countries ◽  
Older People ◽  
Population Aging ◽  
Policy Implications ◽  
Financial Security ◽  
Older Population ◽  
Background Population ◽  
Care Health ◽  
The Government ◽  
The Impact

Background: Population aging refers to the increase in number and percentage of older population aged 60 yr and above, and at the same time, decreasing in number and percentage of the young population aged 15 yr old and below. Starting in developed countries, population aging has now become a distinctive demographic phenomenon in developing countries. Nowadays developing countries have become the home to the largest proportion of older people in the world. This paper aimed to analyze the impact of population aging in Malaysia. Methods: We employed a secondary data analysis related to the impact of population aging in Malaysia. In analyzing the data, the paper detailed, segmented, coded and, formulated the text into themes through a thematic approach. The themes that emerged from the data were family changes, migration of youth, support and care, health problems, financial security as well as housing problems. These emerged themes mapped the shared patterns of the impacts of the population aging. Results: With the increasing of the older population in Malaysia, there are various impacts of population aging emerged, particularly in terms of family changes, youth migration to cities, support and care, health, financial security and housing. The discussion in this article is revolved around these impacts. Conclusion: The growth of older people and the impact emerging from it has certain policy implications for the government of the country. Thus, the government needs to prepare for adequate policies and resources for future older people.

scholarly journals Financialisation reinforced: the dual legacy of the covid pandemic

2021 ◽  
Author(s):  
Photis Lysandrou ◽  
Taimaz Ranjbaran
Keyword(s):  
Financial Market ◽  
Emerging Market ◽  
Financial System ◽  
Equity Markets ◽  
Policy Implications ◽  
Emerging Market Economies ◽  
The Future ◽  
Wealth Tax ◽  
The Impact ◽  
Global Financial System

AbstractThis paper examines the impact of the covid pandemic on the financialisation process, here viewed as the growing domination of the world’s bond and equity markets over the world’s product markets. Two major arguments are advanced. The first is that the pandemic has reinforced the functionality of financial market scale, which is that its continuing growth signifies nothing other than that government and corporate organisations are colonising the future to cope with the rising financial pressures of the present. The second argument is that the pandemic has also accentuated one of the more notable dysfunctional aspects of the continuing growth of financial market scale, which is its enforcement of a core-periphery divide between the advanced and emerging market economies that occupy the global financial system. The paper concludes with some policy implications of the analysis that includes the call for a global wealth tax.

scholarly journals Population Structure Change in the Mekong Delta: Current and Policy Implications

2020 ◽  
Vol 36 (1) ◽  
Author(s):  
Phan Thuan
Keyword(s):  
Population Structure ◽  
Elderly Population ◽  
Population Aging ◽  
Mekong Delta ◽  
The Elderly ◽  
Development Trend ◽  
Structure Change ◽  
Policy Implications ◽  
Population Development ◽  
The Impact

The shift in the population structure is one of the factors that impact strongly on socio-economic development. The purpose of the article is to analyze the current population structure shift in order to show clearly the population development trend in the Mekong Delta. Based on this, the article points out some problems posed from the trend of population structure change such as the risk of sex imbalance at birth, the elderly population feminization and the impact of population aging, the risk of losing the golden population opportunities. The author then some recommendations implied policies are proposed to solve the threats and challenges created by the process of changing population structure.

scholarly journals COVID-19 and financial market response in China: Micro evidence and possible mechanisms

PLoS ONE ◽  
2021 ◽  
Vol 16 (9) ◽  
pp. e0256879
Author(s):  
Zhan Wang ◽  
Zhongwen Zhang ◽  
Qiong Zhang ◽  
Jieying Gao ◽  
Weinan Lin
Keyword(s):  
Financial Market ◽  
Stock Prices ◽  
Negative Impact ◽  
Policy Implications ◽  
Financial Risks ◽  
Investment Strategies ◽  
Opposite Pattern ◽  
Listed Firms ◽  
Economic Downturns ◽  
The Impact

This paper uses event study based on the Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model to study the impact of the COVID-19 outbreak on China’s financial market. It finds that the pandemic had an overall significant and negative impact on the stock prices of firms listed on SSE, SZSE and ChiNext. However, such impact appeared to be heterogeneous across industries, affecting listed firms in industries such as pharmaceutical and telecommunications positively, but those in services industries such as accommodation, catering, and commercial services negatively. Apparently, a crisis for some had been an opportunity for others. In addition, this paper seeks to understand the micro mechanism behind the heterogeneity of pandemic shock from the perspective of firms’ financial position. It finds that listed firms with higher debt level were hit harder, whereas those with more net cash flow had displayed higher resilience against the blow of the pandemic. However, the opposite pattern is found among those listed on ChiNext and in industries severely devastated by the pandemic. These findings have policy implications in terms of preventing systemic financial risks and facilitating recovery during pandemic-induced economic downturns. It also helps investor adjust investment strategies, hedge against risks, and secure gains when the market conditions in general are unfavorable.

scholarly journals The impact of COVID-19 on stock market returns: Case of Bourse Regionale des Valeurs Mobilieres

2021 ◽  
Vol 18 ◽  
pp. 207-214
Author(s):  
Franck Edouard Gnahe
Keyword(s):  
Stock Returns ◽  
Emerging Market ◽  
Least Square ◽  
Policy Implications ◽  
Stock Market Returns ◽  
Ordinary Least Square ◽  
Market Structures ◽  
Regional Market ◽  
Steady Growth ◽  
The Impact

Using the pooled ordinary least square approach, this paper investigates the effect of Covid-19 on the regional financial exchange namely, Bourse Regionale des Valeur Mobileres (BRVM). In this note, we propose the hypothesis that COVID-19 has affected the regional financial exchange rate resistance to the shocks. We find that the regional financial exchange reacted proactively to the pandemic in the time of March 04, 2020 to April 20, 2020 after the occurrence. Our analysis also suggest negative regional market reaction was strong during the early days of the pandemic. However, this impact is transitory with implementation of official government policies, the stock returns maintain steady growth. We conclude that pandemic has changed the resistance of the regional financial exchange to shock. Therefore, the policy implications is to consider these asymmetries when determining the monetary policy and effectiveness of financial system rules to promote competitive emerging market structures and trade liberalization in the regional exchange market and developing countries.

scholarly journals Research on the Online Consumption Effect of China’s Urbanization under Population Aging Background

2019 ◽  
Vol 11 (16) ◽  
pp. 4349 ◽  
Author(s):  
Xuyang Li ◽  
Tongping Li ◽  
Hui Li ◽  
Junmei Qi ◽  
Linjie Hu
Keyword(s):  
Population Policy ◽  
Negative Impact ◽  
Population Aging ◽  
Explanatory Power ◽  
Generalized Method Of Moments ◽  
Central Area ◽  
Policy Implications ◽  
Eastern Area ◽  
The Government ◽  
The Impact

With the development of e-commerce, online consumption—a new sustainable consumption mode—has rapidly developed. Online shopping has become an important consumption method for Chinese residents, and the era of online consumption has arrived. Urbanization is an important foundation for the development of online consumption, and its impact on online consumption is becoming increasingly important. In addition, with the decline of fertility in China, the proportion of the elderly population is increasing. As the macro background of the current economic operation of China, population aging has long been a concern of the government. However, the existing research on urbanization, population aging and online consumption is insufficient. In this context, this study is of great significance to promote the sustainable development of the online consumption mode and enrich the theory of resident consumption in the era of the network economy. In this paper, by adopting the system generalized method of moments (GMM), we conducted an empirical analysis of the relationship between urbanization, population aging, and online consumption, based on panel data from 31 provinces in China from 2007 to 2017. Furthermore, we examined the regional heterogeneity of urbanization’s online consumption effect. The results reveal that, first, urbanization has a positive relationship with online consumption. Second, urbanization’s online consumption effect has regional differences, with the largest positive effect being in the western area of China, the second in the eastern area of China and the smallest in the central area of China. Third, aging inhibits the development of online consumption. Specifically, it mainly includes two aspects. On the one hand, aging has a direct negative impact on online consumption. On the other hand, aging has a moderating effect on urbanization’s online consumption effect, which weakens the impact of urbanization. The rising of urban residents’ income has significant explanatory power to the change of online consumption in the eastern and western regions. Therefore, the policy implications are as follows: promoting the strategic transformation of urbanization, giving full play to the online consumption effect of urbanization; adjusting and improving population policy to cope with the population aging; constantly raising people’s income level and enhancing consumption potential.

Forms of physical activity of the elderly

2020 ◽  
Vol 18 (3) ◽  
pp. 221-228
Author(s):  
Piotr Czarnecki ◽  
◽  
Justyna Podgórska-Bednarz ◽  
Lidia Perenc ◽  
◽  
...  
Keyword(s):  
Physical Activity ◽  
Elderly People ◽  
Population Aging ◽  
Human Life ◽  
Good Health ◽  
The Elderly ◽  
Polish Society ◽  
Central Statistical ◽  
Key Phrases ◽  
The Impact

Introduction. Physical activity is known to be an important factor influencing health throughout human life. This issue has become crucial for public health due to the aging of the population in both developed and developing countries. Aim. is to present a literature review on the forms of physical activity undertaken by the elderly, as well as on issues related to physical activity and the population aging. Material and methods. The study was prepared on the basis of a review of Polish and foreign literature. The following databases and data sources were used: EBSCO, ScienceDirect and Google Scholar. An additional source of data were the websites of the Central Statistical Office. Strictly defined key phrases were used during the collection of literature. The work has been divided into thematic subsections on the aging of the society, the impact of physical activity on health and the main topic, i.e. forms of physical activity selected by the elderly. Analysis of the literature. The number of elderly people in Polish society has increased by almost 3.7 million over three decades. Therefore, an important topic is prophylaxis aimed at increasing the number of days in good health, largely covering the broadly understood activation of the elderly. The available data indicate that only 12% of elderly people undertake physical activity once a week. The most common form of spending free time actively is walking (as many as 73% of people in this population declare this form of physical activity in one of the presented studies). Conclusion. Organized forms of physical activity are undertaken much less frequently by the analyzed age group mainly due to financial limitations and limited availability of sports infrastructure.

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