Publisher: KSP Journals   (Total: 6 journals)   [Sort by number of followers]

Showing 1 - 6 of 6 Journals sorted alphabetically
J. of Economic and Social Thought     Open Access   (Followers: 2)
J. of Economics and Political Economy     Open Access   (Followers: 7)
J. of Economics Bibliography     Open Access   (Followers: 1)
J. of Economics Library     Open Access   (Followers: 10)
J. of Social and Administrative Sciences     Open Access  
Turkish Economic Review     Open Access   (Followers: 1)
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Journal of Economics Library
Number of Followers: 10  

  This is an Open Access Journal Open Access journal
ISSN (Print) 2149-2379
Published by KSP Journals Homepage  [6 journals]
  • Leaning against the wind: Effects of macroprudential policy on sectoral

    • Authors: Joab Dan VALDIVIA CORIA, Daney David VALDIVIA CORIA
      Pages: 247 - 266
      Abstract: . Use of macroprudential policies in recent years has gained relevance in different economies. As a result of the financial crisis in 2008, this instrument was useful in emerging economies to reduce the effects of the adverse international context. The relationship between financial intermediation and the real sector is positive, in response to shocks in productive credit the sectoral growth is 0.15pp in 2016. Likewise, the modification of the reserve requirement rate can provide or with draw liquidity from the financial system, in the first case, the objective is to increase portfolio placement, which affects the development of productive sectors. Therefore, there is a need to evaluate the effect of changes in the reserve requirement rateon sectoral growth in Bolivia, which was offset by the financial cycle because episodes of Credit Crunch affect the real sector (the economic cycle is amplified to the downside). The methodologies used are the Fixed Effects (FE), Random Effects (RA) and Panel Autoregresive Vectors (Panel-VAR) and recursive versions of them. The positive effects of the macroprudential policy and changes in the position that this instrument had over time, depending on the financial cycle, Leaning Against the Wind. Reserve requirement ratedecreasesof the national currency has positive impact on sectoral growth and tests with recursive versions shows positive effects and increase of credit towards the sectoral activity.Keywords. Reserve requirements, Interest rate, Fixed effects (EF), Random effects (RE), Panel VAR, Recursive estimation, Leaning against the wind.JEL. C50, E51, E52.

      PubDate: 2020-01-07
      DOI: 10.1453/jel.v6i4.2001
      Issue No: Vol. 6, No. 4 (2020)
       
  • Constructing a monthly GDP indicator for Suriname

    • Authors: Sailesh Anand BHAGHOE, Karel ECKHORST
      Pages: 310 - 323
      Abstract: . Advancements in data collection and data processing techniques revolutionized access to higher frequency data. A large body of literature focusses on these higher frequency data in advanced economies. In contrast, small less-developed economies often lack adequate and reliable databases of high-frequency economic indicators. We construct a monthly GDP indicator, using a well-established statistical methodology. To monitor the quality of the indicator, we treat it as an in-sample forecast with respect to December observation of GDP for 2012 -2018. The results show that the constructed monthly GDP indicator is reliable and therefore its methodology applicable in many small developing countries.Keywords. Monthly GDP indicator, GDP.JEL. C51, E30, E32.
      PubDate: 2020-01-07
      DOI: 10.1453/jel.v6i4.1963
      Issue No: Vol. 6, No. 4 (2020)
       
  • Interest-free window banking and finance in Ethiopia: Inception to
           expansion

    • Authors: Abdulkadir Wahab AMAN
      Pages: 324 - 337
      Abstract: Abctract. Interest-Free Banking and Finance services are continuously growing throughout the world in terms of customer size and the number of countries introducing the services. Entitled differently in different corners of the globe, numerous models have been implemented. Full-Fledged Banking, Subsidiary Banking, and Window Banking models are the eminent types. One of the countries, where an only Window Model has been practiced, is Ethiopia. In the last decade, the banking regulation of the country has legitimatized the operations of only Window Models. Consequently, within 6 years (2013-2019), 10 conventional banks have rapidly introduced Window-Based IFB services. Most of these windows became very weak in financing but they could attract billions of Ethiopian Birr (ETB) within a short period. As a result, the Window-Based IFB sector of the country became exceedingly characterized by cost-free deposit accumulation under the cover of a manipulated term of Interest-Free Banking. However, the parliament has approved a regulation which permits the establishment of Full-Fledged IFB in 2019. Consequently, some banks are under formation. The aim of this study is, therefore, to assess the expansion of the Window Model and the performance of the banks in deposit accumulation and financing trade and investment. A descriptive analysis is used based on mainly the reports of the banks.Keywords. IFB, Window model, Ethiopia.JEL. G21, G28, G29.
      PubDate: 2020-01-14
      DOI: 10.1453/jel.v6i4.2006
      Issue No: Vol. 6, No. 4 (2020)
       
  • Inflation in Eastern China during the Second Sino-Japanese War

    • Authors: Michell LI
      Pages: 338 - 353
      Abstract: . Although the history of the Japanese invasion of China is well-known and well-taught in China, the history of the currency war between China and Japan during the time is far less known. From 1937-1945, China and Japan engaged in not only a military war but also a "currency war." Japan, in an attempt to generate funds for the war from the war itself and to overthrow the Chinese government, attacked China's currency, the fabi (meaning “legal tender”), by printing counterfeit fabi notes and establishing “puppet” banks in China to issue mass amounts of puppet currencies to displace the fabi. These counterfeit notes and puppet currencies quickly circulated into the economy and led to a period known as the Great Chinese Inflation. Both the Nationalists (the governing party) and the Communists immediately took different actions to control inflation and the influx of counterfeit notes. The inflation was widespread not only in Nationalist and Communist-controlled areas, but also in Japanese-occupied areas of China.Keywords. China, Hyperinflation, Inflation, Second Sino-Japanese War, World War II.JEL. N15, N25, N45.
      PubDate: 2020-01-14
      DOI: 10.1453/jel.v6i4.2005
      Issue No: Vol. 6, No. 4 (2020)
       
  • The effects of exchange rate volatility on foreign trade in Ghana

    • Authors: Emmanuel D.K. HAVI
      Pages: 267 - 286
      Abstract: . This paper examined the effect of real exchange rate volatility on the growth of export and import in Ghana. A monthly data was used. All the variables were cointegrated and vector error-correction model was used. It was found that, in the long-run, depreciation of real exchange rate, increase in volatility and increase in output growth were significant factors that increased the growth of export. Also, decrease in real exchange rate volatility and increase in industrial output growth were significant factors that can reduced the growth of import. However, in the short run, depreciation of real exchange rate and reduction in real exchange rate volatility were significant factors that can increase the growth of export. Also, depreciation of real exchange rate and reduction in real exchange rate volatility were significant factors that can decrease the growth of import. Finally, considering the directional causality, the current values of growth of export is determined by the past values of real exchange rate volatility Therefore, it was recommended that government policies that stabilized real exchange rate and reduce its volatility are to be encouraged to facilitate the growth of export and discourage the growth of import in Ghana.Keywords. Real exchange rate volatility, Import, Export, VECM, Cointegration.JEL. E40, E50, E60.
      PubDate: 2019-12-30
      DOI: 10.1453/jel.v6i4.1948
      Issue No: Vol. 6, No. 4 (2019)
       
  • Pareto superior dimension of rotating savings and credit associations
           (ROSCAs) in Ghana: Evidence from Asunafo North Municipality of Ghana

    • Authors: Ernest AMANKWAH, Fritz Augustine GOCKEL, Eric OSEI-ASSIBEY, Alice NUBUOR
      Pages: 287 - 309
      PubDate: 2019-12-30
      DOI: 10.1453/jel.v6i4.1950
      Issue No: Vol. 6, No. 4 (2019)
       
 
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