A Study on the Effect of Digital Inclusive Finance on the Financial Restraint of Small and Medium-sized Enterprises

Nowadays, how to ease the financial restraint of small and medium-sized enterprises effectively is becoming the hot research point. The development of digital inclusive finance provides a practical solution to ease the financial restraint of small and medium-sized enterprises. Based on China’s Digital Inclusive Finance Development Index and SME Board data, this paper finds that the development of digital inclusive finance significantly alleviates the financial restraint of SMEs. The coverage and depth of digital inclusive finance both significantly ease the financial restraint of SMEs. In addition, in regions with higher levels of financial development, the mitigation effect of the development of digital inclusive finance on the financial restraint of small and medium-sized enterprises may be weakened.

Empirical analysis of the effect of financial restraint policy on Chinese residents’ consumption

Purpose The purpose of this paper is to test whether the policies of China’s financial restraint have an inhibitory effect on the consumption of residents. Design/methodology/approach This study used the principal component analysis for constructing a financial restraint index and also used empirical methodology. Findings The authors found that financial restraint policies create rent opportunities for banking sector and production sector, which further creates the rent opportunities for the household sector. Such transfer of rent and redistribution will have an inhibitory effect on residents’ consumption. The financial restraint policies directly and indirectly inhibit the growth of residents’ income; and in theory, the purpose of financial restraint policy is to promote economic growth, thus promoting residents’ consumption. Thus, the financial restraint policies impacting the residents’ consumption are non-linear and test the threshold effect of financial restraints on the residents’ consumption of China. Research limitations/implications This paper’s theoretical contribution includes: increasing the connotation of financial restraint in the policies of stock market and foreign exchange controls, and further developing the financial restraint theory; and exploring the inhibitory effect on the consumption of residents from the perspective of financial restraints to enrich the connotation of the consumption theory. Originality/value The findings in this study can help the financial authorities to gradually relax the financial restraint policies to encourage residents’ consumption.

Ukraine president gains from economic data and policy

Significance The decision to reduce gas prices -- a gift to President-elect Volodymyr Zelensky, as it chimes with the anti-austerity messaging of his election campaign -- and not to raise them as the IMF wants, was officially announced on April 24. However, it was outlined by Prime Minister Volodymyr Groisman in March, before the election. Zelensky inherits an economy in recovery, although last year's growth rate was mostly due to maize, sunflower seed and little else. He has not yet articulated an economic programme, but his team is promising constructive engagement with the IMF, soothing concerns about anti-austerity populism. Impacts The disruption of supply chains and maritime freight mean Ukraine's economy will take years to return to 2013 levels. IMF support for monetary and financial restraint will encourage reformers in Moldova and other post-Soviet states to craft similar policies. With the advantage of monetary stability, the government is likely to use Eurobonds to restructure and service its foreign debt.

‘In the climate of continuing financial restraint’: Finding a sustainable future in the neo-liberal university

The impact of neo-liberalism on the university sector had profound consequences for the Fulbright program’s ability to support academic research. Binationalism had meant the Australian Fulbright program was well-funded by the Australian government even as the US government reduced its contribution in the late 1960s-70s. From the 1980s further cutbacks meant the program had to turn towards private sector and corporate funding for support, involve the alumni and to introduce targeted scholarships. This raised dilemmas about autonomy and freedom from interference that had plagued the Fulbright program throughout its history.

Off the track: A profile of non-tenure track faculty at McGill University

A survey conducted at McGill University suggests that non-tenure track faculty are a diverse group of highly-qualified individuals whose employment status involves a high degree of uncertainty. In accordance with other Canadian and American studies, the survey also found that a disproportionate number of women occupy non-tenure track as opposed to tenured or tenure track positions. Since the 1980s, North American universities have responded to increasing student enrollments and con- tinued cuts to government funding by appointing significant numbers of faculty to full-time and part-time non-tenure track positions. Due to the precariousness of their employment status, non-tenure track faculty rep- resent an attractive buffer in times of financial restraint. Despite their increasing numbers, however, little is known about the composition and concerns of non-tenure track faculty as a group. This article describes this group at one university and puts into question the structural and power relations that have led to their increased use and abuse.

Competitive Networking For SME: A Case Study Of Its Success In Italy

Small and Medium Enterprises have limited financial resources, which hampers development possibilities. For small and medium entities, the ambition toward a foreign-market driven income is on the increase. However, going international seems to be harder because of its peculiar financial restraint. This paper intends to give evidence to an empirical case of excellence, which is emerging as a prototype in the agri-food industry since its establishment: the Agribusiness Cluster Brixia (hereafter, ACB). The Agribusiness Cluster Brixia is a well-defined group of companies highly specialized in technology, the Cluster shares. This company integrates skills at every stage of the supply chain, from farm production to food distribution, storing, and processing. The aim of this paper is to test if it has really provided advantages for the partners, and how. These advantages can be in reducing some competitive costs for the partners involved, entering new markets, or by developing new and cooperative solutions to the customers needs.

Informal finance as alternative route to SME access to finance: Evidence from Ethiopia

The problem of SME financing has received attention of policy makers and academics in recent years owing to the role of the sector in reducing unemployment, narrowing income gap and alleviating poverty. Alternative financing schemes were suggested but their success depends to a large extent on the development of legal, informational, and institutional frameworks. Existing body of literature grossly undermines SME ability in reacting towards financial restraint and generally assumes they are passive participants in the credit market. Through a survey of 102 randomly selected firms across 10 industrial sectors in the manufacturing sector, we examined how the Ethiopian manufacturing SMEs reacted to acute shortage of formal credit. We found that SME owners actively react towards financial restraint by resorting to alternative schemes such as iqqub(variant of rotating saving and credit association), customer advances, and trade credit. Although the alternative financing schemes are not the best but they are useful in evading the impact of credit restraint on their operation and growth.