Search results for "markets"
showing 10 items of 332 documents
Determinants of Sub-Sovereign Government Ratings In Europe
2017
The aim of this paper is to identify the determinantsof the rating assigned to sub-sovereignentities in Germany, Austria, Belgium, France,Italy and Spain, using a total of 92 territorial entitiesfor the 1989-2012 period. Multinomial orderedprobit estimation models were estimatedfor each specifi cation and agency.We conclude that the country’s rating is oneof the most important determinants of regionalgovernment’s ratings with a positive infl uence(as expected), and that the country debt/GDPratio is a stronger determinant for regions thantheir own indebtedness with a negative sign.Other relevant variables are population growthrate, unemployment rate, elderly people weight,regional public exp…
The importance of the Logistics Performance Index in international trade
2014
Logistics and transport increasingly play a pivotal role in international trade relations. The Logistics Performance Index (LPI) analyses differences between countries in terms of customs procedures, logistics costs and the quality of the infrastructure for overland and maritime transport. The aim of this article is to analyse the impact that each of these components has on trade in emerging economies using a gravity model. Furthermore, the study also attempts to detect possible advances in logistics in developing countries, which are grouped into five regions (Africa, South America, Far East, Middle East and Eastern Europe) by comparing the first LPI data published in 2007 with the most re…
Le banche italiane nel “secolo breve”. Riflessioni dalla storia dell’ABI, 1919-1991
2012
This article examines the developments occurred in the Italian banking system during the second half of the 20th century from the point of view of the banker’s major professional association, the Associazione Bancaria Italiana (ABI). Starting from the postwar reconstruction we shall describe ABI’s attitude on the changing trade-off between stability and competition, its ability to cope with the new problems arising from the 1970s crisis, the views expressed and the actions undertaken concerning the reform of the banking system during the 1980 and early1990s. In doing so we shall profit from a huge amount of archival sources emerging from two previous books that the authors published on the …
The refugee entrepreneurship process from/in emerging economies
2021
The paper examines several refugee experiences in Mexico and presents their reasons for leaving their home countries. A gap in research is identifying the entrepreneurial process experienced by refugee entrepreneurs. We use the case study of 10 Latin American refugees in Mexico to propose a conceptual framework that describes the entrepreneurial process of refugee entrepreneurs. We have found that this process begins with the abandonment of the country of origin, followed by the traumatic experiences that caused flight and the difficulties they face in the pilgrimage to the host country. These events help shape the entrepreneurial intention of the refugees.
Measuring Returns to Education: The Case of Latvia
2015
This paper aims to measure returns to education in Latvia and place them in context of data available in other countries. The goals of this paper are to review the literature on returns to education, highlighting the measurement challenges, and, based on the 2011 labour market survey data, estimate private returns to education in Latvia overall as well as by individual characteristics. The main findings are that returns to education in Latvia are close to the European Union average, but lower than in some emerging markets e.g. Lithuania, and that there are statistically significant differences in returns to education depending on a person’s gender, ethnicity, field of employment and locatio…
Does Urban Security Modulate Transportation Choices and Travel Behavior of Citizens? A National Study in the Dominican Republic
2020
Introduction: Traditionally, the scientific literature on urban and transportation dynamics addresses many topics, but the security-related outcomes of users remain a pending issue, especially in emerging countries and their cities. Nevertheless, recent evidence suggests that, especially in developing countries, security issues may influence people’s decision-making in the choice of transport means, daily urban-trip patterns and road behaviors of users. Objective: The purpose of this study was to explore the relationships between the perceived security (in both urban environments and public transport systems) and the daily-travel behavior and trip patterns of the Dominican Republic populati…
ICT-driven disruptive innovation nurtures un-captured GDP : Harnessing women's potential as untapped resources
2017
The harnessing of untapped resources has become essential for inclusive growth in digital economies particularly as developed economies continue to age demographically. The harnessing of women's potential is an urgent subject in this context, and successive initiatives have been flourishing in many countries. However, given the institutional complexity of the issue, as well as considerable variety across nations, uniformed non-systematic approaches are hardly satisfactory in achieving a timely solution. Against this back drop, this paper analyzed a new information communication technology (ICT)-driven disruptive innovation that may nurture un-captured GDP by harnessing untapped resources su…
Banking Crises and Short and Medium Term Output Losses in Emerging and Developing Countries: The Role of Structural and Policy Variables
2012
The aim of this paper is to assess the dynamic impact of banking crises on output for a panel of developing economies. Using an unbalanced panel of 159 countries from 1970 to 2006, the paper shows that banking crises produce significant output losses. Output losses are larger for relatively richer economies, characterized by a higher level of financial deepening and larger current account imbalances. Flexible exchange rates, fiscal and monetary policy, and liquidity support policies have been found to attenuate the effect of the crises. © 2012 Elsevier Ltd.
The macroeconomic effects of electricity-sector privatization
2021
Abstract We examine the macroeconomic effects of privatizing the ownership structure of the electricity market, using a novel indicator of privatization which covers 90 advanced, emerging market, and developing economies, since 1974. Privatization reforms, on average, improve outcomes in the provision of electricity and have positive macroeconomic effects: output and employment increase in the years following electricity-sector privatization reforms. Reforms are also associated also with an increase in income inequality, but the effects are small, on average. These impacts vary according to the business cycle, quality of institutions, and a country's development status, with macroeconomic a…
A systematic review of sovereign connectedness on emerging economies.
2019
This article systematically reviews the academic literature on emerging market contagion in order to summarize what we have learnt about the transmission channels existing in these countries. Given the large body of academic research focused on this topic, we especially direct our attention to the strand of the literature that defines and empirically analyses this topic as the significant increase in the cross-market correlations between asset returns during crisis periods or when a shock occurs. The survey covers the findings on financial contagion in the stock, bond, exchange and credit default swap markets during a large period that covers several crises that have characterized the relat…