Subjects -> BUSINESS AND ECONOMICS (Total: 3570 journals)
    - ACCOUNTING (132 journals)
    - BANKING AND FINANCE (306 journals)
    - BUSINESS AND ECONOMICS (1248 journals)
    - CONSUMER EDUCATION AND PROTECTION (20 journals)
    - COOPERATIVES (4 journals)
    - ECONOMIC SCIENCES: GENERAL (212 journals)
    - ECONOMIC SYSTEMS, THEORIES AND HISTORY (235 journals)
    - FASHION AND CONSUMER TRENDS (20 journals)
    - HUMAN RESOURCES (103 journals)
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    - INTERNATIONAL COMMERCE (145 journals)
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    - MICROECONOMICS (23 journals)
    - PRODUCTION OF GOODS AND SERVICES (143 journals)
    - PUBLIC FINANCE, TAXATION (37 journals)
    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

INTERNATIONAL COMMERCE (145 journals)                     

Showing 1 - 136 of 136 Journals sorted alphabetically
Acta Economica Et Turistica     Open Access   (Followers: 1)
Advances in Accounting     Hybrid Journal   (Followers: 10)
African Journal of Economic and Sustainable Development     Hybrid Journal   (Followers: 17)
Amnis     Open Access   (Followers: 1)
Antitrust Bulletin     Hybrid Journal   (Followers: 8)
Asia and the Global Economy     Open Access  
Asian Journal of Shipping and Logistics     Open Access   (Followers: 2)
Botswana Journal of Economics     Open Access   (Followers: 1)
Career Development International     Hybrid Journal   (Followers: 19)
China Business Review     Full-text available via subscription   (Followers: 2)
China Economic Quarterly International     Open Access  
Competition and Regulation in Network Industries     Full-text available via subscription   (Followers: 7)
Critical Perspectives on International Business     Hybrid Journal   (Followers: 1)
Crossroads     Hybrid Journal  
Digital Finance : Smart Data Analytics, Investment Innovation, and Financial Technology     Hybrid Journal   (Followers: 3)
East Asian Community Review     Hybrid Journal  
EC Tax Review     Full-text available via subscription   (Followers: 5)
Economic Journal of Emerging Markets     Open Access   (Followers: 1)
Economics Research International     Open Access   (Followers: 1)
Ekonomia Międzynarodowa     Open Access  
EMAJ : Emerging Markets Journal     Open Access  
Emerging Markets Finance and Trade     Hybrid Journal   (Followers: 7)
Estudos Internacionais : revista de relações internacionais da PUC Minas     Open Access   (Followers: 1)
European Business Law Review     Full-text available via subscription   (Followers: 17)
European Company Law     Full-text available via subscription   (Followers: 11)
European Journal of International Management     Hybrid Journal   (Followers: 3)
Expert Journal of Business and Management     Open Access  
Foreign Trade Review     Hybrid Journal   (Followers: 3)
Global & Strategis     Open Access   (Followers: 1)
Global Summitry     Hybrid Journal   (Followers: 1)
Global Trade and Customs Journal     Full-text available via subscription   (Followers: 6)
Human Resource Development International     Hybrid Journal   (Followers: 19)
Human Resource Management International Digest     Hybrid Journal   (Followers: 18)
IMF Economic Review     Hybrid Journal   (Followers: 44)
IN VIVO     Full-text available via subscription   (Followers: 4)
Information Resources Management Journal     Full-text available via subscription   (Followers: 8)
Information Technologies & International Development     Open Access   (Followers: 81)
International Advances in Economic Research     Hybrid Journal   (Followers: 6)
International Business Review     Hybrid Journal   (Followers: 9)
International Commerce Review     Hybrid Journal   (Followers: 1)
International Economic Journal     Hybrid Journal   (Followers: 8)
International Economic Review     Hybrid Journal   (Followers: 61)
International Economics     Hybrid Journal   (Followers: 3)
International Economics and Economic Policy     Hybrid Journal   (Followers: 7)
International Entrepreneurship and Management Journal     Hybrid Journal   (Followers: 8)
International Environmental Agreements: Politics, Law and Economics     Hybrid Journal   (Followers: 14)
International Finance     Hybrid Journal   (Followers: 26)
International Insolvency Review     Hybrid Journal   (Followers: 4)
International Journal of Applied Behavioral Economics     Full-text available via subscription   (Followers: 18)
International Journal of Asian Business and Information Management     Full-text available via subscription   (Followers: 1)
International Journal of Commerce and Management     Hybrid Journal  
International Journal of Export Marketing     Hybrid Journal   (Followers: 1)
International Journal of Governance and Financial Intermediation     Hybrid Journal  
International Labor and Working-Class History     Full-text available via subscription   (Followers: 15)
International Labour Review     Partially Free   (Followers: 60)
International Marketing Review     Hybrid Journal   (Followers: 14)
International Public Management Journal     Hybrid Journal   (Followers: 8)
International Review of Applied Economics     Hybrid Journal   (Followers: 6)
International Review of Economics     Hybrid Journal   (Followers: 4)
International Review of Economics & Finance     Hybrid Journal   (Followers: 28)
International Review of Finance     Hybrid Journal   (Followers: 9)
International Review of Financial Analysis     Hybrid Journal   (Followers: 8)
International Review of Law and Economics     Hybrid Journal   (Followers: 27)
International Review of Retail, Distribution and Consumer Research     Hybrid Journal   (Followers: 3)
International Review of Social History     Full-text available via subscription   (Followers: 32)
International Review on Public and Nonprofit Marketing     Hybrid Journal   (Followers: 3)
International Small Business Journal     Hybrid Journal   (Followers: 11)
International Studies of Management and Organization     Full-text available via subscription   (Followers: 8)
International Trade Journal : Western Hemispheric Studies     Hybrid Journal   (Followers: 2)
International Transactions In Operational Research     Hybrid Journal   (Followers: 2)
Intertax     Full-text available via subscription   (Followers: 4)
Japanese Political Economy     Full-text available via subscription   (Followers: 1)
Journal for International Business and Entrepreneurship Development     Hybrid Journal   (Followers: 8)
Journal of Accounting and Finance in Emerging Economies     Open Access  
Journal of Advanced Research in Economics and International Business     Full-text available via subscription  
Journal of Antitrust Enforcement     Hybrid Journal   (Followers: 1)
Journal of Chinese Economic and Foreign Trade Studies     Hybrid Journal   (Followers: 2)
Journal of Chinese Human Resource Management     Hybrid Journal   (Followers: 4)
Journal of Comparative International Management     Full-text available via subscription  
Journal of Contemporary European Research     Open Access   (Followers: 16)
Journal of Economics and International Finance     Open Access   (Followers: 1)
Journal of International Accounting, Auditing and Taxation     Hybrid Journal   (Followers: 5)
Journal of International Business Policy     Hybrid Journal  
Journal of International Business Studies     Hybrid Journal   (Followers: 47)
Journal of International Commerce, Economics and Policy     Hybrid Journal  
Journal of International Consumer Marketing     Hybrid Journal   (Followers: 9)
Journal of International Development     Hybrid Journal   (Followers: 32)
Journal of International Economics     Hybrid Journal   (Followers: 38)
Journal of International Entrepreneurship     Hybrid Journal   (Followers: 10)
Journal of International Financial Management & Accounting     Hybrid Journal   (Followers: 4)
Journal of International Financial Markets, Institutions and Money     Hybrid Journal   (Followers: 19)
Journal of International Food & Agribusiness Marketing     Hybrid Journal   (Followers: 2)
Journal of International Management     Hybrid Journal   (Followers: 5)
Journal of International Marketing     Full-text available via subscription   (Followers: 24)
Journal of International Money and Finance     Hybrid Journal   (Followers: 37)
Journal of International Trade & Economic Development: An International and Comparative Review     Hybrid Journal   (Followers: 11)
Journal of International Trade Law and Policy     Hybrid Journal   (Followers: 19)
Journal of Korea Trade     Full-text available via subscription   (Followers: 1)
Journal of Monetary Economics     Hybrid Journal   (Followers: 95)
Journal of Revenue and Pricing Management     Hybrid Journal   (Followers: 4)
Journal of Reviews on Global Economics     Open Access  
Journal of the Association for Consumer Research     Full-text available via subscription   (Followers: 7)
Journal of the Japanese and International Economies     Hybrid Journal   (Followers: 4)
Journal of Theoretical and Applied Electronic Commerce Research     Open Access  
Journal of World Trade     Full-text available via subscription   (Followers: 19)
Jurnal Hubungan Internasional     Open Access  
Jurnal Ilmu Ekonomi Terapan     Open Access  
L'Année du Maghreb     Open Access   (Followers: 1)
Management international / International Management / Gestiòn Internacional     Full-text available via subscription   (Followers: 3)
Management International Review     Hybrid Journal   (Followers: 7)
MEED Middle East Economic Digest     Full-text available via subscription   (Followers: 1)
Monthly Statistics of International Trade - Statistiques mensuelles du commerce international     Full-text available via subscription   (Followers: 3)
PharmacoEconomics     Full-text available via subscription   (Followers: 26)
Proceedings of the International Conference on Business Excellence     Open Access  
Qualitative Research in Financial Markets     Hybrid Journal   (Followers: 2)
Quarterly Journal of Political Science     Full-text available via subscription   (Followers: 18)
Regional Formation and Development Studies     Open Access  
Relações Internacionais (R:I)     Open Access  
Research World     Hybrid Journal  
Review of International Economics     Hybrid Journal   (Followers: 14)
Review of International Political Economy     Hybrid Journal   (Followers: 40)
Revista Brasileira de Gestão de Negócios     Open Access  
Revista Multiface Online     Open Access  
Revue internationale de l'économie sociale     Full-text available via subscription  
Revue Internationale du Travail     Full-text available via subscription   (Followers: 3)
Revue internationale P.M.E. : économie et gestion de la petite et moyenne entreprise     Full-text available via subscription   (Followers: 1)
South African Journal of International Affairs     Hybrid Journal   (Followers: 6)
South American Development Society Journal     Open Access  
Studies in Comparative International Development     Hybrid Journal   (Followers: 16)
Syracuse Journal of International Law and Commerce     Open Access   (Followers: 3)
TDM Transnational Dispute Management Journal     Full-text available via subscription   (Followers: 5)
Transnational Corporations Review     Hybrid Journal  
World Competition     Full-text available via subscription   (Followers: 9)
World Food Policy     Hybrid Journal   (Followers: 3)
World Oil Trade     Hybrid Journal  
World Trade and Arbitration Materials     Full-text available via subscription   (Followers: 8)

           

Similar Journals
Journal Cover
International Economics and Economic Policy
Journal Prestige (SJR): 0.244
Citation Impact (citeScore): 1
Number of Followers: 7  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1612-4812 - ISSN (Online) 1612-4804
Published by Springer-Verlag Homepage  [2469 journals]
  • OECD countries’ twin long-run challenge: The impact of aging dynamics
           and increasing natural disasters on savings ratios

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      Abstract: Abstract There has been a long-standing debate over the development of savings rates in developed economies, and an emphasis has been placed on aging societies and a global savings glut. Meanwhile, with rising global temperatures and more frequent extreme weather events becoming an increasingly visible economic and ecological global challenge, the concern of climate-related risks could indeed be an important issue in monetary and real economic analysis. This study aims to investigate the dual long-term challenge of sustainable economic development. By constructing an enhanced growth model and investigating empirically, using a panel approach which employs data from OECD countries between 1980 and 2020, the question as to the extent to which the savings rate is affected by aging populations and environmental degradation will be addressed in a broad macro perspective. This study explores for the first time the impact of natural disasters on OECD countries and the main findings indicate that aging populations and natural disasters have significant negative impacts on savings rates. Moreover, the analyses using sub-samples suggest a diminishing role of the real long-term interest rate regarding savings behaviour.
      PubDate: 2022-05-25
       
  • The distribution of power within the EU: perspectives on a Ukrainian
           accession and a Turkish accession

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      Abstract: Abstract On February 28th, 2022, Ukraine submitted an application concerning accession to the European Union. As Ukraine is already linked to the European Union through an Association Agreement and the Deep and Comprehensive Free Trade Agreement—signed in 2014—there might be a chance for the Ukraine to join the EU within the next decade. With about 41 million inhabitants, Ukraine is a rather large country and the 65% majority requirement under the EU’s Qualified Majority Voting rules would give Ukraine some significant power in a future EU28. Herein, it is shown how relative political power indices—as measured by the Banzhaf index—would change in the case of an EU enlargement to allow accession by Ukraine: The large economies would lose power and, surprisingly, many small countries would gain political power. Such perspectives might lead one to reconsider the voting procedures of the Council of the European Union at the EU level in the course of future negotiations on amendments to the Lisbon Treaty. The case of Turkey’s accession is also considered as is the case of Montenegro joining the European Union.
      PubDate: 2022-05-18
       
  • The effect of child benefits on financial difficulties and spending
           habits: evidence from Poland’s Family 500 + program

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      Abstract: Abstract In response to the low fertility rate and high child poverty in Poland, the government implemented the Family 500 + program which provides cash transfers to families with two or more children, and low-income, one-child families. Using a difference-in-differences approach, we explore the causal effect of this policy on expenditure and financial difficulties of beneficiaries relative to non-eligible families. The findings suggest that after the introduction of the program, expenditures on food and cultural activities increased, and the likelihood of experiencing a hardship paying for utilities and medical care declined for the treatment relative to the control group. These results imply a beneficial effect of child benefits on tackling financial difficulties of families with children. From a policy perspective, the findings indicate that cash transfers can alleviate child poverty concerns and financial constraints to having children.
      PubDate: 2022-05-08
       
  • Export diversification and financial openness

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      Abstract: Abstract This paper investigates empirically the effect of export diversification (i.e. both export product diversification and services export diversification) on financial openness, using a sample of 119 countries (including both developed and developing countries) over the period 1985–2014. Based on the Blundell and Bond’s two-step system Generalized Method of Moments, the analysis has revealed that both export product diversification and services export diversification influence positively financial openness. However, this outcome hides differentiated effects across countries in the full sample. Especially, countries with a very high real per capita income experience a positive effect of export concentration on financial openness, while for countries with a relatively lower per capita income, it is rather export diversification that drives positively financial openness. Interestingly, the effect of export diversification on financial openness depends on the size of external shocks that affect domestic economies, as well as countries’ economic growth performance. Overall, these findings add to the empirical literature on the effect of international trade on financial openness by showing that both export product diversification and services export diversification matter for financial openness.
      PubDate: 2022-04-23
       
  • A time series approach to study the dynamic effects of bilateral trade
           agreements

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      Abstract: Abstract In this work, the effects of 103 bilateral regional trade agreements (RTAs: partial scope agreements — PSAs — and free trade agreements — FTAs) are studied in a dynamic way. The analysis of quarterly trade flows from Q4-1982 to Q4-2018 shows dynamic differences between RTAs and among trade partners. Results show that countries benefit unevenly from bilateral RTAs and that their economic size is not determinant. The positive global trade trend since the 1990s and the negative effect of the 2008 economic crisis are captured by the factor analysis in order to study specifically how trade agreements affect bilateral trade asymmetrically. On average, RTAs promote a 10% increase in bilateral trade flows above the mean trend, but PSAs tend to enhance bilateral trade more than FTAs (21% compared to 9%). Additionally, PSAs gather most of the effects during the first four quarters after the agreements are enforced whereas FTAs have longer effects over time. The current study allows a classification of bilateral trade series in homogeneous groups according to the dynamic impact of the bilateral RTAs by the means of a cluster analysis. Heterogeneity between clusters is therefore explored. Moreover, a difference concerning the economic crisis starting in 2008 is noticed: overall, for agreements in force before 2008, their impact on bilateral trade is positive (30%) while it is negative for agreements signed after 2008 (− 9%). This indicates that RTAs play a heterogeneous role as a smoothing cycle mechanism. Finally, evidence of the anticipation effect is found.
      PubDate: 2022-04-02
       
  • The past, present and future of euro area monetary-fiscal interactions

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      Abstract: Abstract The EU’s Treaties were designed to limit the interaction between fiscal and monetary policies. However, over the last decade, the introduction of the ECB’s Outright Monetary Transactions (OMT) programme and its sovereign bond purchase programmes has created some strong linkages between monetary and fiscal policies in the Eurosystem. The ECB’s monetary policies have improved fiscal debt sustainability and reduced the probability of sovereign default. However, there may need to be limits to the ECB’s purchases of sovereign bonds. This paper discusses the interactions between fiscal and monetary policies in the euro area and describes how the arguments raised by the European Court of Justice in the Weiss and Gauweiler cases suggest there may be hard limits on the size of the Eurosystem’s sovereign bond holdings. These limits may undermine the positive impact of the OMT announcement and force the ECB into some difficult choices in the coming years.
      PubDate: 2022-03-01
      DOI: 10.1007/s10368-022-00531-y
       
  • Environmental policy and convexity of climate change damage functions: an
           experiment with New Keynesian DSGE model

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      Abstract: Abstract The paper seeks out to investigate how varying degree of convexity of climate change damage function affect economic output and the dynamic response of macroeconomic variables to shocks under different environmental policy regimes. In an economy featuring nominal rigidities and monopolistically competitive firms together with climate change mitigation policy and firm abatement effort, the results show that the choice of damage function affects long-term growth of the economy and the performance of climate mitigation policy. A highly convex climate damage function has a significant contractionary effect on economic output and by extension consumption and private investment. This result stands irrespective of the environmental policy put in place. The impact of exogenous shocks on the macroeconomic variables is higher than the degree of convexity of the damage function. Cap-and-trade policy compresses the response of macroeconomic variables to these shocks, irrespective of curvature of the damage function. The results are robust to different calibrations of the climate damage functions.
      PubDate: 2022-03-01
      DOI: 10.1007/s10368-022-00528-7
       
  • A general equilibrium model of Value Added Tax evasion: an application to
           Pakistan

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      Abstract: Abstract Value Added Taxes (VAT) constitute a major share of tax revenues in developing countries in which tax evasion is widespread. The literature on VAT evasion, however, is relatively scant. This paper develops a computable general equilibrium framework for analyzing endogenous VAT tax evasion. The analytical framework entails increasing enforcement through greater spending on the enforcement of tax revenue collection. We assume that there is an elasticity that connects the changes in enforcement to actual increases in VAT collection. We apply the model to Pakistan data and show the level of enforcement spending required to achieve certain VAT collection targets. We also examine the short-, medium-, and long-term macroeconomic outlooks, and real consumption distribution across household economic groups associated with higher enforcement spending. We calibrate the model using 2016 as the base year and then run the dynamic model forward for 20 years. We define the implicit VAT rate as that hypothetical statutory rate that, in the absence of evasion, would approximately generate the observed VAT collection. We assume zero additional spending on enforcement in the baseline and estimate two alternative scenarios of VAT revenue target of 8% and 15% of the GDP. The alternative scenarios require increase in enforcement spending by a compounded 46.4% and 322.4%, respectively. We find that the increased enforcement spending enhances the sustainability of the government’s budget deficit without causing a decline in real GDP over the long-term. The interest and inflation rates are also lowered. However, there is a small regressive impact on households’ real consumption.
      PubDate: 2022-02-02
      DOI: 10.1007/s10368-022-00530-z
       
  • The role of technological capabilities and gap in the cross-country
           patenting: an empirical investigation

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      Abstract: Abstract This study examines the factors stimulating the cross-country patenting activity post the Trade-Related Intellectual Property Rights (TRIPS) agreement in 1995. In particular, we investigate the role of technological capabilities and technological gap between the home and host country in determining bilateral foreign patenting. We adopt an augmented gravity model approach for sample of 36 countries from 2001 to 2015. Using a negative binomial regression model, we find that technological capabilities of home countries positively influence their patenting activities in other countries. Further, the high technological gap between the host and the home countries reduces the inflow of patents to the destination countries.
      PubDate: 2022-02-01
      DOI: 10.1007/s10368-021-00506-5
       
  • Did the great influenza of 1918–1920 trigger a reversal of the first era
           of globalization'*

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      Abstract: Abstract I revisit the 1918–20 pandemic and ask whether it led to a reversal in the rise of trade and financial globalization that preceded it. Using annual data for 17 countries for the 1870–1928 period, a variety of tests and techniques are used to draw some robust conclusions. Overall, the pandemic a century ago interrupted, but did not put an end, to the first globalization of the twentieth century. However, two blocs consisting of combatant and non-combatant countries, experienced significantly different consequences. Globalization was sharply curtailed for the combatant countries while there were few, if any, consequences for globalization in the non-combatant group of countries. That said, there was considerable resilience especially in trade openness among several of the combatant economies. Perhaps changes in the make-up of economic blocs, post-pandemic, is a fallout from shocks of this kind. While there are lessons for the ongoing COVID pandemics differences between the 1920s and today also play a role.
      PubDate: 2022-01-22
      DOI: 10.1007/s10368-021-00526-1
       
  • Transmission mechanisms of conventional and unconventional monetary
           policies in open economies

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      Abstract: Abstract This paper provides an empirical examination on the transmission mechanisms of conventional and unconventional monetary policies for two non-EMU countries, Switzerland and the United Kingdom, over the period 1990–2017. We investigate the role of stock prices and consumer expectations in the transmission of monetary policy. We propose two distinct structural VAR models. The model for the case of conventional monetary policy covers the pre-2009 period, while the model for the case of unconventional monetary policy covers the post-2009 period. The official bank policy rate and central bank’s reserve assets are used as instruments for conventional and unconventional monetary policy. The analysis reveals that the inclusion of a forward-looking informational variable of near-term development in economic activity and a financial variable such as the stock prices is of key importance for the monetary policy assessment. We provide evidence for the existence of a consumer confidence channel in the transmission of conventional monetary policy. Moreover, the long-term government bond yields, the exchange rate and stock prices have an important role in the transmission of unconventional monetary policy. Our findings indicate that conventional and unconventional monetary policies have short-run expansionary effects in both countries by increasing output, consumption, investment, stock prices and wages, while reducing unemployment.
      PubDate: 2022-01-21
      DOI: 10.1007/s10368-021-00527-0
       
  • Global cargo gravitation model: airports matter for forecasts

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      Abstract: Abstract The reliability of forecast models in the aviation sector is an important factor for industry and policy makers likewise. Expanding airports and fleets usually is a cost and time intensive process, and in order to maintain efficient market behavior, accurate anticipation of future demand and structural changes is attempted. We present a new quantitative approach to air cargo forecasts utilizing global airport-dyadic ICAO CASS data in general linearized airport fixed effects gravity models. While the strong explanatory power of our time invariant constant model has its natural difficulties predicting a variety of smaller indicators from previous models found in literature, we achieve very good results for selected time variant variables as gross domestic product per capita or kerosene prices. This makes our model a perfect tool for forecast simulations: extrapolating general economic forecast data provided by IHS Markit yield similar results to Boeing cargo forecasts (2020), with a slight decrease in the long run. Additionally, we do not need to split or control our sample in regional groups due to airport fixed effects, which makes the model on the other hand suitable for country- and airport level forecasts as well. The utilization of a large unique bilateral freight data set also helps answering classical gravity model questions in aviation: we track the distance effect to a matter of sample selection, finding no significant interaction following state of the art gravity econometrics.
      PubDate: 2021-11-27
      DOI: 10.1007/s10368-021-00525-2
       
  • Factors affecting bank loan quality: a panel analysis of emerging markets

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      Abstract: Abstract This study investigates the factors affecting the loan quality of banking sector in seventeen emerging and developing markets using quarterly panel dataset covering period of 2010–2019 and utilising feasible generalised least square methodology. Our empirical analysis suggests that inflation and lending rates negatively affect the banks’ loan quality measured by non-performing loans. On the contrary, economic growth and capital adequacy show a positive impact on banks’ loan quality. The inclusion of the ratio of net open position in foreign exchange to capital and its’ lagged values, as an additional factor, has marked out this research from other studies. Our results reveal that the ratio has a significant negative impact on loan quality in banking. This finding, as it was also seen in Asian crises of 1997, indicates that the higher the ratio net open position in foreign exchange to capital cause moral hazard problem leading to the higher non-performing loans in banking sectors.
      PubDate: 2021-11-12
      DOI: 10.1007/s10368-021-00520-7
       
  • Good institutions, more FDI' Evidence from Indian firm-level data

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      Abstract: Abstract The study examines the effect of institutional quality on the FDI of Indian firms at the intensive country margin. In the present study, the state judiciary system, bureaucracy system, and property-right protection are taken to represent the institutional quality of the host country. The study focuses on examining the effect of institutional quality on FDI controlling for the heterogeneity at the firm level. The results show that institutional quality does have a significant effect on FDI at the intensive country margin. The result suggests that, ceteris paribus, the increase in institutional quality leads to an average increase [exp(0.498)-1]*100 = 60.5% in FDI from Indian firms. The results reveal that FDI from large firms is positively associated with the institutional quality of the host country. The results also reveal that the institutional quality of developed regions is positively associated with FDI. However, there is a negative association between the institutional quality of the developing region and FDI. The firms usually prefer to invest in institutionally sound developed countries (self-selection). To address the source of endogeneity the ‘selection effect’ is explicitly controlled by using a two-stage average treatment effect (ATE). The result is consistent with the initial findings.
      PubDate: 2021-11-12
      DOI: 10.1007/s10368-021-00523-4
       
  • Households’ inflation perceptions and expectations: survey evidence
           from New Zealand

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      Abstract: Abstract In this paper, we study how inflation is viewed by the general population of New Zealand. Based on unique representative survey data collected in 2016 and using descriptive statistics and multivariate regressions, we explore various aspects of how laypersons perceive inflation and form inflation expectations. We focus on how an individual’s economic situation, information search and interest in inflation, economic knowledge, and attitudes and values are related to inflation perception and expectation, as well as the individual’s reaction to them. We interpret our findings as a clear indication that laypersons’ knowledge about inflation is much better described by the imperfect information view prevailing in social psychology than by the rational actor view typically assumed in economics.
      PubDate: 2021-11-09
      DOI: 10.1007/s10368-021-00524-3
       
  • Voluntary corporate climate initiatives and regulatory threat

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      Abstract: Abstract Does participation in voluntary environmental initiatives affect firm value' We take a closer look at the Chicago Climate Exchange (CCX) and the Climate Leaders (CL), two US initiatives to curb carbon emissions that were operating during a decisive regulatory event. In 2009 the Waxman-Markey Bill surprisingly passed the House of Representatives and brought the US economy a big step closer to a nationwide CO2 emission trading system. With an event study we assess how the stock market valued membership in the initiatives when the likelihood of CO2 regulation unexpectedly increased. Our findings suggest that only membership in the market-based CCX was considered beneficial for a mandated carbon market. This is consistent with research that equity-based regulation through financial markets can help economies favor clean industries over dirty ones. We interpret the empirical results in a simple model. Adding earlier market reactions to the firms’ membership announcements, the model implies that the market had been betting on a mandatory emission trading system all along.
      PubDate: 2021-10-27
      DOI: 10.1007/s10368-021-00519-0
       
  • Motivations behind individuals’ energy efficiency investments and daily
           energy-saving behavior: The case of China

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      Abstract: Abstract The impact of environmental motivations on the individual’s decisions regarding investments in energy efficiency and the adoption of energy-saving habits are analyzed for a representative sample of Chinese inhabitants from the larger Beijing area, replicating a comparative study on Western Europe. For the considered type of energy efficiency investments and daily energy-saving activities similarities and discrepancies between the two regions are discussed in regard to their sociocultural background as well as governmental regulations. The study provides empirical evidence that for Chinese environmental issues if all only play a tertiary role after monetary and regulatory incentives. The findings could suggest that in China policy programs aimed at raising environmental awareness and forming pro-environmental motivations might not lead to an increase in energy efficiency investments and daily energy-saving activities and the Chinese government’s interests in this regard might be better served by implementing corresponding incentives via regulations. In the long-term. However, social peer pressure might affect a change in the Chinese mentality.
      PubDate: 2021-10-19
      DOI: 10.1007/s10368-021-00521-6
       
  • Financial spillovers, spillbacks, and the scope for international
           macroprudential policy coordination

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      Abstract: Abstract This paper discusses the scope for international macroprudential policy coordination in a financially integrated world economy. It begins with a review of the transmission channels associated with, and the empirical evidence on, financial spillovers and spillbacks. Limitations of the existing literature are also identified. The potential gains associated with cross-border macroprudential coordination, dwelling on both recent analytical contributions and quantitative studies based on multi-country models with financial frictions, are then evaluated. The issue of whether coordination of macroprudential policies simultaneously requires some degree of monetary policy coordination is also discussed. The analysis focuses on the potential for policy coordination between major advanced economies and a group identified as systemically-important middle-income countries (SMICs). Next, practical ways to promote international macroprudential policy coordination are considered. Following a discussion of Basel III’s Principle of reciprocity and ways to improve it, the paper advocates a further strengthening of the current statistical, empirical and analytical work conducted by international financial institutions to evaluate, and raise awareness of, the gains from international coordination of macroprudential policies.
      PubDate: 2021-10-14
      DOI: 10.1007/s10368-021-00522-5
       
  • Higher wages in exporters and multinational firms evidence from linked
           employer–employee data

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      Abstract: Abstract This study investigates whether exporters, multinational enterprises (MNEs), and foreign-owned firms pay higher wages in Japan, using linked employer–employee data. It shows that wages of foreign-owned and domestically-owned MNEs are the highest and that wages of non-multinational exporters are higher than those of non-multinational non-exporters. The ordering of wages, with MNEs having the highest wages and exporters having higher wages than purely domestic firms, is consistent with the productivity ordering of the standard firm heterogeneity model. Even after controlling for observable plant and worker characteristics, this ordering of wages remains the same. It further finds that the residual wage premiums for foreign firms are much higher than those for non-multinational exporters and domestically-owned MNEs. The results from quantile regressions reveal that the residual wage premium is larger in the higher quantiles of the wage distribution for foreign firms, whereas I do not find a similar tendency for domestically-owned firms. Finally, this study finds that female workers receive much larger wage premiums in foreign firms than male workers.
      PubDate: 2021-09-01
      DOI: 10.1007/s10368-021-00517-2
       
  • Housing and stock market wealth effects in developing economies

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      Abstract: Abstract While there has been a copious emphasis on wealth effects in macroeconomic analysis in advanced economies, it has remained an underexplored subject for developing economies. This paper specifically examines the existence of stock and housing wealth effects in developing countries. Further, it examines the related question of how differently the consumption responds to changes in a specific type of wealth, and to what extent the degree of financial deepening alters the intensity of wealth effect. Empirical inquiry, using panel data of 20 large emerging market and developing countries over the period 1996:Q1 to 2019:Q4, reveals a strong housing wealth effect, which could be attributed to dispersed ownership and households’ belief in the durability of wealth gains. In contrast, there is a lack of ample evidence of any significant positive stock market wealth effect, rather we find the presence of a somewhat small negative stock wealth effect, which could be associated with skewed holdings of stock wealth and uncertainty in wealth gains. However, finding from the sample of countries characterized by a higher degree of financial deepening, reveals that the stock market wealth effect turns positive and significant when the financial sector crosses a threshold of development. Besides, the housing wealth effect turns stronger with greater financial deepening and dominates the stock market wealth effect. Thus, as developing countries attain higher financial development, the wealth effect channel may turn prominent in influencing business cycle behaviour, macroeconomic aggregates and policy responses.
      PubDate: 2021-08-17
      DOI: 10.1007/s10368-021-00510-9
       
 
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