scholarly journals The economic crisis and the insurance industry: The evidence from the ex-Yugoslavia region

2010 ◽  
Vol 55 (185) ◽  
pp. 129-162 ◽  
Author(s):  
Vladimir Njegomir ◽  
Boris Marovic ◽  
Rado Maksimovic
Keyword(s):  
Economic Crisis ◽  
Bosnia And Herzegovina ◽  
Life Insurance ◽  
Global Financial Crisis ◽  
Insurance Industry ◽  
Insurance Premium ◽  
Time Investment ◽  
Investment Returns ◽  
The Global Financial Crisis ◽  
The Impact

The paper analyses the impact of the economic crisis on the insurance industries of the ex-Yugoslavia region. The analysis encompasses five countries: Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and FYR Macedonia. We examine insurance industry specifics separately for each country for the period 2004-2008 and for the first six months of 2009. While the impact of the crisis varies between countries, the research results indicate that the global financial crisis has had limited overall impact on the regional insurance industry. However the current recession resulted in negative premium growth in Serbia, Croatia and FYR Macedonia while the growth in Slovenia and Bosnia and Herzegovina declined. At the same time investment returns have declined and claims have risen in all countries. The crisis had more pronounced impact on non-life insurance premium growth in less developed insurance markets. In developed markets, namely Slovenia and Croatia, the crisis had greater impact on life insurance premium growth.

2011 Review of Conditionality - Outcomes of Fund-Supported Programs

Policy Papers ◽  
2012 ◽  
Vol 2012 (44) ◽  
Author(s):  
Keyword(s):  
Economic Crisis ◽  
Government Spending ◽  
Global Financial Crisis ◽  
Program Review ◽  
Social Variables ◽  
Social Outcome ◽  
Outcome Indicators ◽  
Macroeconomic Variables ◽  
The Global Financial Crisis ◽  
The Impact

This paper examines the effects of Fund-supported programs initiated during 2002-11, with special emphasis on programs started after the onset of the recent global economic crisis. The paper investigates the effects of Fund-supported programs on key macroeconomic variables and, data restrictions permitting, on social variables (social government spending, unemployment and social outcome indicators). Further, it analyzes the contribution of fiscal and external accommodation in helping program countries get through the recent global crisis. The assessment of the impact of Fund-supported programs is necessarily incomplete to the extent that the global financial crisis is ongoing and the most recent crisis programs such as the March 2012 program for Greece are not included. The Crisis Program Review provides detailed analysis of recent GRA-supported programs.

scholarly journals Impact of Privatisation on Employment and Output in Pakistan

2003 ◽  
Vol 42 (4II) ◽  
pp. 513-536 ◽  
Author(s):  
Iram A. Khan
Keyword(s):  
Economic Crisis ◽  
Global Financial Crisis ◽  
Edible Oil ◽  
Short Term ◽  
Policy Makers ◽  
Quality Of Governance ◽  
The Global Financial Crisis ◽  
The Impact

The paper aims to assess the impact of privatisation on employment and output in Pakistan. It uses edible oil and cement sectors as a case study in a pre- and post-privatisation comparative framework. Assessing the impact of privatisation in Pakistan is important at this juncture for two reasons. Firstly, the country is facing a severe economic crisis and privatisation forms an integral part of an array of reform measures recommended by multi-lateral donors as well as policy-makers within and without the country. Burki [(2000), p. 152] observes, “The economy and state of Pakistan are in crisis…. Pakistan has not faced a crisis of this magnitude in its entire 50-year history”. He refers to the five different crises that have combined to create this situation. These are: the global financial crisis, Pakistan’s short-term liquidity problem, economy’s structural weaknesses, severe social backwardness, and, finally, the crisis of governance. Burki (2000) suggests several solutions to the problems, and privatisation is one of the ways to restructure the economy and improve the quality of governance.

R&D DYNAMICS AND FIRM GROWTH: THE IMPORTANCE OF R&D PERSISTENCY IN THE ECONOMIC CRISIS

2019 ◽  
Vol 23 (05) ◽  
pp. 1950049
Author(s):  
HAYOUNG PARK ◽  
TAEWON KANG ◽  
JEONG-DONG LEE
Keyword(s):  
Economic Crisis ◽  
Firm Growth ◽  
Global Financial Crisis ◽  
Firm Level ◽  
Level Data ◽  
The Global Financial Crisis ◽  
The Impact ◽  
D Investment ◽  
High Uncertainty

There has been a lot of interest in R&D dynamics, including the persistency and volatility of R&D investment. However, there is a lack of empirical evidence supporting the impact of R&D dynamics on firm growth in the context of an economic crisis. This study examines the effects of R&D dynamics on firm growth during and after the global financial crisis of 2008–2009. Based on firm-level data, we construct a balanced panel for 1,137 firms in the global petrochemical industry. Our findings indicate that firms with R&D persistency show higher growth during and after the crisis, regardless of firm size. R&D persistency has a higher impact on firm growth in large firms than in smaller ones. In addition, R&D persistency has greater influence than the level of R&D investment. Firms should pursue non-cyclical and consistent R&D strategies with a long-term perspective, especially in high uncertainty conditions.

scholarly journals DETERMINANTS OF INDONESIA’S RESIDENCE TRAVELING ABROAD

2021 ◽  
Vol 6 (1) ◽  
pp. 158
Author(s):  
Akhmad Tantowi
Keyword(s):  
Economic Crisis ◽  
Time Series Data ◽  
Global Financial Crisis ◽  
Relative Price ◽  
Series Data ◽  
Relative Prices ◽  
Short Run ◽  
The Global Financial Crisis ◽  
Travel Abroad ◽  
The Impact

The study aims to identify the economic variables affecting Indonesia’s residence to travel abroad. Knowledge of the variables of Indonesia’s residence to travel abroad is very important because this is one of the sources of foreign exchange leakage. The ARDL approach will be used with time series data for the period 1992-2019. The impact of changes in income, relative prices for Malaysian tourism, and flight availability will be estimated and tested. Two dummy variables are also provided to represent the economic crisis in 1997-1998 and the global financial crisis in 2008. One of the important findings of this study is the significance of the income variable with more than one elasticity, which shows the luxury nature of tourism travel. The relative price of tourism also affects Indonesians to travel abroad in the long- and short-run. The economic crisis of 1997-1998 led to a decrease in Indonesians traveling abroad.

scholarly journals The Impact Of The Global Financial And Economic Crisis On The Convergence Process In OECD Countries

2015 ◽  
Vol 18 (1) ◽  
pp. 81-96 ◽  
Author(s):  
Marianna Greta ◽  
Krzysztof Lewandowski
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Econometric Model ◽  
Global Financial Crisis ◽  
Oecd Countries ◽  
The Great Depression ◽  
Convergence Process ◽  
Similarities And Differences ◽  
The Global Financial Crisis ◽  
The Impact

This paper analyzes the issue of convergence in OECD countries and tries to assess the effect of financial crisis on the process of convergence. In other words it will consider whether the global financial crisis pulled the economies of the organization together or pushed them apart. It tries to show whether the present crisis has had a similar effect on the convergence process as the Great Depression had 80 years ago. It will analyze the most important macroeconomic data from the period 2007–2012 and use a simple econometric model to establish the relationships and, in conclusion, compare the similarities and differences between these two economic events.

The Impact of the Global Financial Crisis on the Legal Regulation of Labor Migration

2021 ◽  
Vol 39 (9) ◽  
Author(s):  
Oleg M. Yaroshenko ◽  
Volodymyr М. Harashchuk ◽  
Olena V. Moskalenko ◽  
Nataliia O. Melnychuk ◽  
Yuliia M. Burniagina
Keyword(s):  
Economic Crisis ◽  
Labor Migration ◽  
Global Financial Crisis ◽  
Migration Policy ◽  
Legal Regulation ◽  
Economic Consequences ◽  
Practical Significance ◽  
Theoretical Generalization ◽  
The Global Financial Crisis ◽  
The Impact

The purpose of the article is to identify and evaluate the main measures of migration policy and legal regulation in the field of combating the effects of the economic crisis, effective ways to regulate the situation on the labor market and employment and measures to address the economic crisis in the country of destination and origin. Methods of analysis and synthesis, theoretical generalization, historical, scientific-analytical, systematization and classification were used to identify scientific and theoretical bases of labor migration. The practical significance of the obtained results lies in the possibility of using the results of the study to overcome the socio-economic consequences of the coronary crisis by countries; to improve the activities of migration services.  

scholarly journals The Impact of the Life Insurance on Economic Growth in ASEAN

2018 ◽  
Vol 2 (2) ◽  
pp. 12-15
Author(s):  
Karin Amelia Safitri
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Life Insurance ◽  
Insurance Industry ◽  
Developed Countries ◽  
Fixed Effect Model ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Positive Effects ◽  
The Impact

The development of the insurance business in ASEAN has an impressive growth in the course of recent years. Reverse statement from Ouédraogo et al., (2016) who explained the level of life insurance development in developing countries remains low comparatively to developed countries. The ASEAN insurance industry, with the increasing number of insurance companies and people using insurance services, can even play a greater role in supporting overall economic growth in that region. This study aimed at examining the contribution of life insurance sector which is measured by three parameters e.g insurance penetration, insurance density and premium volume to the economic growth in the sample of 6 developing countries on ASEAN religion during 2005-2015 period i.e. Singapore, Malaysia, Phillipine, Thailand, Vietnam and Indonesia. The analytical method is applied by using fixed effect model. The result of this study showed that the life insurance premium volume, penetration and density have positive effects on economic growth.

AN EMPIRICAL STUDY OF INDIAN INSURANCE INDUSTRY POST GLOBAL FINANCIAL CRISIS

2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Insurance Industry ◽  
Primary Data ◽  
Policy Recommendations ◽  
Insurance Sector ◽  
The World ◽  
The Impact ◽  
The New Deal

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.

scholarly journals Income Distribution in Turkey during the Global Financial Crisis

2017 ◽  
Vol 9 (3) ◽  
pp. 91
Author(s):  
Sinem Sefil-Tansever
Keyword(s):  
Financial Crisis ◽  
Income Inequality ◽  
Global Financial Crisis ◽  
Income Source ◽  
Labor Earnings ◽  
Income Sources ◽  
Gini Decomposition ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Earning Inequality

The aim of this study is to examine mechanism responsible for the behavior of the income and earning inequality in Turkey during the global financial crisis based on data from the 2006 to 2014 Income and Living Conditions Survey. Gini decomposition by income source is employed in order to provide an analysis of the contribution of the various income sources to the evolution of income inequality and to assess the impact of a marginal percentage change in the income from a particular source on income inequality. For examining the contributions of specific variables (education, position in occupation, economic sector) to the interpretation of labor earnings inequality in terms of their gross and marginal contribution, we use static decomposition of Theil T index.

scholarly journals Russia and the CIS in 2008: Axis of Authoritarianism??

Asian Survey ◽  
2009 ◽  
Vol 49 (1) ◽  
pp. 135-145 ◽  
Author(s):  
Charles E. Ziegler
Keyword(s):  
Financial Crisis ◽  
Economic Performance ◽  
Domestic Politics ◽  
Global Financial Crisis ◽  
Great Power ◽  
The Caucasus ◽  
Central Asian ◽  
Presidential Succession ◽  
The Global Financial Crisis ◽  
The Impact

Russia's seamless presidential succession produced no major changes in domestic politics or foreign policy. Ties with Asia remained strong, though several key relationships——with China, Japan, and the Central Asian states——frayed under the impact of Russia's military action in Georgia. Impressive economic performance in the first half of the year boosted Russian confidence as a great power, but its vulnerability to the global financial crisis together with the heavy-handed operation in the Caucasus undermined Moscow's standing with both Asia and Europe by the end of the year.

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