scholarly journals DID GLOBAL FINANCIAL CRISIS WORSEN OIL PRICE VOLATILITY AND BANKING SECTOR NEXUS IN SELECTED ECOWAS AND G-7 MEMBER COUNTRIES?

2019 ◽  
Vol 10 (6) ◽  
pp. 390-395
Author(s):  
Charles O. Manasseh ◽  
Godfrey I. Ihedimma ◽  
Felicia C. Abada ◽  
Ifeoma C. Nwakoby ◽  
Benson O. Njoku ◽  
...  
Keyword(s):  
Financial Crisis ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Price Volatility ◽  
Oil Price ◽  
Oil Price Volatility

The Response of Arab Region to Overcome Global Financial Crisis

2020 ◽  
pp. 056943452093832
Author(s):  
Omar Ghazy Aziz
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Price Volatility ◽  
Arab Countries ◽  
Monetary Policies ◽  
Oil Price Volatility ◽  
Oil Revenue ◽  
Oil Revenue Management ◽  
The Global Financial Crisis ◽  
Oil Revenues

The main objective of this study is to analyze the policies adopted by Arab countries to recover from the global financial crisis (GFC) in 2008. The study highlights the fiscal and monetary policies that were applied by Arab countries to maintain economic activity. The study shows that Arab countries primarily relied on a mix of fiscal policies to stimulate the economy. As a result, the accumulated oil revenues enabled them to respond quickly, preventing a deeper deceleration in growth and also supporting a growth rebound. However, for countries with limited fiscal space, macroeconomic and oil revenue management became more challenging. Strategies aimed at increasing non-oil sources of growth are recommended to help reduce the vulnerability of these countries to excessive oil price volatility. JEL Classifications: E520, E620, O40, P470

Crude Oil Price and Food Security Related Variables in Malaysia

2016 ◽  
Vol 4 (2) ◽  
pp. 17-21
Author(s):  
Shri Dewi Applanaidu ◽  
Mukhriz Izraf Azman Aziz
Keyword(s):  
Food Security ◽  
Crude Oil ◽  
Price Index ◽  
Price Volatility ◽  
Food Price ◽  
Oil Price ◽  
Crude Oil Price ◽  
Price Changes ◽  
Oil Price Volatility ◽  
Crude Oil Prices

Objective - This study analyzes the dynamic relationship between crude oil price and food security related variables (crude palm oil price, exchange rate, food import, food price index, food production index, income per capita and government development expenditure) in Malaysia using a Vector Auto Regressive (VAR) model. Methodology/Technique - The data covered the period of 1980-2014. Impulse response functions (IRFs) was applied to examine what will be the results of crude oil price changes to the variables in the model. To explore the impact of variation in crude oil prices on the selected food security related variables forecast error variance decomposition (VDC) was employed. Findings - Findings from IRFs suggest there are positive effects of oil price changes on food import and food price index. The VDC analyses suggest that crude oil price changes have relatively largest impact on real crude palm oil price, food import and food price index. This study would suggest to revisiting the formulation of food price policy by including appropriate weight of crude oil price volatility. In terms of crude oil palm price determination, the volatility of crude oil prices should be taken into account. Overdependence on food imports also needs to be reduced. Novelty - As the largest response of crude oil price volatility on related food security variables food vouchers can be implemented. Food vouchers have advantages compared to direct cash transfers since it can be targeted and can be restricted to certain types of products and group of people. Hence, it can act as a better aid compared cash transfers. Type of Paper - Empirical Keywords: Crude oil price, Food security related variables, IRF, VAR, VDC

Twin Peaks Regulation After the Global Financial Crisis: A Reform Model for China?

2017 ◽  
Vol 8 (3) ◽  
Author(s):  
Miao Han
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Relevant Literature ◽  
Twin Peaks ◽  
The Global Financial Crisis ◽  
Peak Model ◽  
Twin Peak

AbstractThe global financial crisis (GFC) has been defined as the worst financial crisis after the Great Depression of the 1930s. Reforms underway, as well as debates in discussion, revolve around both regulatory philosophy and approaches towards better supervisory outcomes. One of the most radical institutional reforms took place in the United Kingdom (UK), where the Twin-Peak model replaced the previous fully integrated regulator – the Financial Services Authority (FSA) under the Financial Services Act 2012. This paper argues that China should also introduce twin peaks regulation, but it is rather based on the resources of risk in its financial sector than the direct GFC challenge. In theory, the core arguments focus on the structure of agencies responsible for prudential regulation and the role played by the central bank as well. The Twin-Peak model has been further examined in terms of regulatory objectives and instruments. By method, this paper is a country-specific comparative study; Australia, the Netherlands and the UK are selected to represent different Twin-Peak models. This paper contributes to the relevant literature in two main aspects. First, it has displayed the principal pattern of the Twin-Peak model after detailing the case studies, including the relationship involving in two regulators, central bank and finance minister in particular. Based on this, second, it becomes possible to design a very specific model to reform China’s current sector-based financial monitoring regime. As far as the author knows, until end-2015, this is the first paper which has proposed such a particular model to China. It is argued that the appropriate institutional structure of market regulation should fit well in with a country’s financial market. Accordingly, the Twin-Peak model will be able to balance the regulatory tasks for the over-concentrated risk in China’s large banking sector but the underdeveloped securities market. Even though, regulatory independence will continue to be challenged.

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