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1
DeYoung, Robert, Emma Y. Peng, and Meng Yan. "Executive Compensation and Business Policy Choices at U.S. Commercial Banks." Journal of Financial and Quantitative Analysis 48, no. 1 (January 8, 2013): 165–96. http://dx.doi.org/10.1017/s0022109012000646.
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AbstractWe show that contractual risk-taking incentives for chief executive officers (CEOs) increased at large U.S. commercial banks around 2000, when industry deregulation expanded these banks’ growth opportunities. Our econometric models indicate that CEOs responded positively to these incentives, especially at the larger banks best able to take advantage of these opportunities. Our results also suggest that bank boards responded to higher-than-average levels of risk by moderating CEO risk-taking incentives; however, this feedback effect is absent at the very largest banks with strong growth opportunities and a history of highly aggressive risk-taking incentives.
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Salem, Mohamed, and Andrew Baum. "Determinants of foreign direct real estate investment in selected MENA countries." Journal of Property Investment & Finance 34, no. 2 (March 7, 2016): 116–42. http://dx.doi.org/10.1108/jpif-06-2015-0042.
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Purpose – The purpose of this paper is to identify the main determinants of foreign direct real estate investments (foreign direct investment (FDI)) in selected Middle Eastern and North African (MENA) countries. Design/methodology/approach – The empirical work of this study is an econometric analysis of FDI in the commercial real estate sector for eight MENA markets, namely Algeria, Egypt, Morocco, Qatar, Saudi Arabia, Turkey, Tunisia and the UAE during the period 2003-2009. The econometric analysis is carried out using the pooled Tobit model technique for panel data. Findings – The paper finds that both country-specific factors and real estate sector-specific variables consistently support hypotheses explaining commercial real estate-related FDI, and find evidence that political stability explains why some selected MENA countries attract more real estate investments than other MENA countries. Practical implications – The findings should be seriously considered in any policy making effort on the part of governments in the region. Originality/value – The authors contribute to the existing literature in many ways. First, the study aims to develop econometric models, using both conventional and unique variables, to be generalised and applied to any developed or emerging market. The study applies relevant techniques in estimating the models, including the pooled Tobit model. Second, the research studies eight selected MENA real estate markets from 2003 to 2009, a timeframe and geography not examined in previous published empirical work on commercial real estate investments. Lastly, and for the first time in real estate literature, the study applies the location dimension of Dunning’s OLI paradigm as a theoretical explanation for the behaviour of foreign investors in commercial real estate towards the selected MENA markets.
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Ishaq, Maryam, Asad Ali, and Ismat Nasim. "Interest Spread and the Banking Sector Profitability- An Empirical Investigation for Pakistan." Review of Education, Administration & Law 5, no. 3 (September 30, 2022): 355–70. http://dx.doi.org/10.47067/real.v5i3.260.
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The paper is an empirical exploration around the commercial banks’ interest spread and the profitability performance for Pakistani banking industry. Earlier studies have evidently proven the sensitivity of commercial banks financial performance towards the gap between their deposit rate and the lending rate. The present study therefore aims at validating (invalidating) the subject relationship using advance time-series econometric procedures. The study attempts to yield a robust statistical analysis since three different measures of banks’ profitability are employed for the purpose of econometric testing i.e. return on assets, return on equity and earnings per share. The study sample comprises seven major participants from commercial banking sector of Pakistan and the sample study period rangers from year 2002 to 2018. From the series of robust regression models, Newey-West Hetroskedasticity and Autocorrelation Consistent (HAC) estimator is used to test the hypothesized relationship. Valid statistical support is yielded in case of all three measures of profitability; however, return on assets as indicator of profitability receives highest amount of statistical support. The results hold strong policy implications for commercial banking sector of the country, calling for wise management decisions whilst deciding the deposit and the lending and rates since they are key to determining the interest spread observed by a bank which in return determines its profitability margins.
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Morina, Fisnik, and Ercan Özen. "Does the Commercial Bank's Loans Affect Economic Growth? Empirical Evidence for the Real Sector Economy in Kosovo (2005-2018)." International Journal of Sustainable Development and Planning 15, no. 8 (December 22, 2020): 1205–22. http://dx.doi.org/10.18280/ijsdp.150807.
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The study aims to analyze the impact of credit policies of commercial banks on financing and development of the real sector of Kosovo's economy. In this context, some statistical and econometric models and techniques have been applied in order to test the impact of commercial banks through the lending process in the development of the real sector of Kosovo's economy for the period 2005-2018, using time series on a monthly basis. The empirical results of this study prove that commercial banks through the lending process have had a positive substantive impact on the development of the real sector in the economy of Kosovo. Economic development cannot happen without the development of the private sector and banks are the ones who can help and are helping in this regard. This study will provide a theoretical and practical analysis of contemporary forms of real sector lending, as well as, the importance of credit policy reform in financing and developing this sector and provide empirical evidence of how much bank loans have affected in the development of the real sector of Kosovo's economy.
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Świtała, Filip, Iwona Kowalska, and Karolina Malajkat. "Size of Banks as a Factor Which Impacts the Efficiency of the Bank Lending Channel." e-Finanse 16, no. 1 (March 1, 2020): 36–44. http://dx.doi.org/10.2478/fiqf-2020-0005.
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AbstractIn most economies the banking sector plays the major role in the financial system. Therefore, it is of great importance to analyse and understand the mechanism of transmission of monetary policy and its impact on the banking sector. One of the possible repercussions of changing the level of official interest rates is the ability to influence the size of bank lending, by means of the bank lending channel. The key aspect our research is a thorough understanding of the functioning of the bank lending channel, with the main goal of this study being an examination of the efficiency of monetary policy transmission through the bank lending channel depending on the size of banks in the sector. This paper examines the abovementioned relation using annual data from 1995-2015 by 1709 commercial and cooperative banks from 27 EU countries and analyzing them in various econometric models. The results indicate that there is a positive impact of a bank’s size on loan growth (defined as the bank size increases, the impact of changes in interest rates in the bank’s lending policy is getting smaller), however, interaction between the variables of size and the interest rate, was proved to be insignificant (in the group of all analysed banks, as well as in commercial and cooperative banks separately).
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Nguyen, Thuy Thu, Hai Hong Ho, Duy Van Nguyen, Anh Cam Pham, and Trang Thu Nguyen. "The Effects of Business Model on Bank’s Stability." International Journal of Financial Studies 9, no. 3 (August 26, 2021): 46. http://dx.doi.org/10.3390/ijfs9030046.
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The literature shows little evidence of the effects of business models upon the volatility of banks in developing and fast-growing economies. Hence, this study examines the effects of business model choice on the stability of banks in ASEAN countries. Using GMM and other robust econometric methods on the sample of 99 joint stock commercial banks, we find significant and negative impacts of a diversification model in which banks shift toward non-interest and fees-based activities. We also find that the impacts are different between two groups of countries. For Vietnam, Indonesia and the Philippines, the diversification entails negative impacts on stability while demonstrating positive impacts for Thailand and Malaysia. Based on these findings, we draw policy implications for more sustainable development in the ASEAN banking business.
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Dixon, Tim. "Commercial property retrofitting." Journal of Property Investment & Finance 32, no. 4 (July 1, 2014): 443–52. http://dx.doi.org/10.1108/jpif-02-2014-0016.
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Purpose – Progress in retrofitting the UK's commercial properties continues to be slow and fragmented. New research from the UK and USA suggests that radical changes are needed to drive large-scale retrofitting, and that new and innovative models of financing can create new opportunities. The purpose of this paper is to offer insights into the terminology of retrofit and the changes in UK policy and practice that are needed to scale up activity in the sector. Design/methodology/approach – The paper reviews and synthesises key published research into commercial property retrofitting in the UK and USA and also draws on policy and practice from the EU and Australia. Findings – The paper provides a definition of “retrofit”, and compares and contrasts this with “refurbishment” and “renovation” in an international context. The paper summarises key findings from recent research and suggests that there are a number of policy and practice measures which need to be implemented in the UK for commercial retrofitting to succeed at scale. These include improved funding vehicles for retrofit; better transparency in actual energy performance; and consistency in measurement, verification and assessment standards. Practical implications – Policy and practice in the UK needs to change if large-scale commercial property retrofit is to be rolled out successfully. This requires mandatory legislation underpinned by incentives and penalties for non-compliance. Originality/value – This paper synthesises recent research to provide a set of policy and practice recommendations which draw on international experience, and can assist on implementation in the UK.
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Thathsarani, US, Jianguo Wei, and GRSRC Samaraweera. "Financial Inclusion’s Role in Economic Growth and Human Capital in South Asia: An Econometric Approach." Sustainability 13, no. 8 (April 13, 2021): 4303. http://dx.doi.org/10.3390/su13084303.
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Many of the 2030 sustainable development goals have targeted the strengthening of financial inclusion, which is currently a key policy priority on the agendas of most governments in developing nations. The process of facilitating banking and financial services for individuals is called financial inclusion, which supports growth and the broader development goals of an economy. Although economic growth and human capital development indices have been analyzed using different proxy variables, insufficient attention has been paid to constructing a composite index for measuring this to achieve greater sustainability in terms of the economy, communities, and the environment. This study sought to address this gap using secondary data from eight countries in South Asia from 2004 to 2018. A financial inclusion index was developed through principal component analysis using an econometric approach of panel data with vector error correction models and a Granger causality test. As per the results of the study, financial inclusion has a long-run impact on human capital development in South Asian countries, whereas it has a short-run positive impact on economic growth. Domestic credits to the private sector also impact the short-run growth and human capital development in the economy. This ensures the confidence of vulnerable communities in their economy, as well as information management, and allows for quality enhancements of transactions with fewer environmental impacts. Government intervention to improve access to financial services, including ATMs and commercial banking, is one policy allowing digital finance to accelerate the achievement of sustainable development goals in South Asian countries.
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Jansson, Torbjörn, and Staffan Waldo. "Managing Marine Mammals and Fisheries: A Calibrated Programming Model for the Seal-Fishery Interaction in Sweden." Environmental and Resource Economics 81, no. 3 (December 27, 2021): 501–30. http://dx.doi.org/10.1007/s10640-021-00637-y.
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AbstractThis paper develops a model based on the concept of Positive Mathematical Programming (PMP) that is useful for ex-ante analyses of how policy measures affect commercial fisheries. PMP models are frequently used in agriculture, but rarely for analyzing fisheries. Fisheries often face a large set of constraints such as effort regulations and catch quotas of which some might be binding and others not. An econometric approach is developed for calibrating models with both binding and non-binding constraints. The interaction between seals and Swedish fisheries is used as an empirical application. Seal interaction is modeled as seals predating fish from passive gear (nets and hooks), which is primarily an issue for the coastal fishery. The model contains 24 fleet segments involved in 247 different fishing activities in 2012. The results show that if no further management action is taken, fisheries using passive gear will reduce their activities from about 46 000 days at sea per year to about 41 000 and reducing their economic performance from losses of about 2 million Euros to about 3.3 million. The impact from seals can be reduced by reducing the seal population or providing economic compensation.
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Uz, Dilek, and Steven Buck. "Comparing Water Use Forecasting Model Selection Criteria: The Case of Commercial, Institutional, and Industrial Sector in Southern California." Sustainability 12, no. 10 (May 13, 2020): 3995. http://dx.doi.org/10.3390/su12103995.
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The United States is one of the largest per capita water withdrawers in the world, and certain parts of it, especially the western region, have long experienced water scarcity. Historically, the U.S. relied on large water infrastructure investments and planning to solve its water scarcity problems. These large-scale investments as well as water planning activities rely on water forecast studies conducted by water managing agencies. These forecasts, while key to the sustainable management of water, are usually done using historical growth extrapolation, conventional econometric approaches, or legacy software packages and often do not utilize methods common in the field of statistical learning. The objective of this study is to illustrate the extent to which forecast outcomes for commercial, institutional and industrial water use may be improved with a relatively simple adjustment to forecast model selection. To do so, we estimate over 352 thousand regression models with retailer level panel data from the largest utility in the U.S., featuring a rich set of variables to model commercial, institutional, and industrial water use in Southern California. Out-of-sample forecasting performances of those models that rank within the top 5% based on various in- and out-of-sample goodness-of-fit criteria were compared. We demonstrate that models with the best in-sample fit yeild, on average, larger forecast errors for out-of-sample forecast exercises and are subject to a significant degree of variation in forecasts. We find that out-of-sample forecast error and the variability in the forecast values can be reduced by an order of magnitude with a relatively straightforward change in the model selection criteria even when the forecast modelers do not have access to “big data” or utilize state-of-the-art machine learning techniques.
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León Serrano, Lady Andrea Andrea, Josselyn Lissbeth Chamba Bernal, and Samantha Abigail Vega Aguilar. "Comportamiento de la cartera comercial de los bancos privados del ecuador, 2010-2018." ECA Sinergia 12, no. 1 (January 31, 2021): 95. http://dx.doi.org/10.33936/eca_sinergia.v12i1.2064.
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El presente estudio tiene como objetivo determinar el comportamiento de la cartera comercial del sistema bancario privado del Ecuador durante el período 2010-2018, los factores considerados corresponden a cartera improductiva, tasa de morosidad, Producto Interno Bruto (PIB), Índice de precios del consumidor, riesgo país, variación de la deuda pública y liquidez. Los datos fueron obtenidos de la Superintendencia de Compañías, Banco Central del Ecuador y Superintendencia de Bancos. La metodología plantea dos modelos econométricos, el primero el Univariante Autoregresivo Integrado Media Móvil (ARIMA) por las estimaciones de las variables a corto plazo y el segundo Multivariante del Análisis de la Covarianza (ANCOVA) que permite relacionar variables con el comportamiento de la cartera comercial. Los principales resultados determinan que los factores de estudio provocan alteraciones en la cartera comercial, por lo tanto, las conclusiones se deducen a un sistema bancario sensible ante las crisis económicas, especialmente a factores externos como el precio del petróleo y planteamientos de políticas económicas.
Palabras clave: Cartera comercial; morosidad; liquidez; bancos privados; Ecuador.
ABSTRACT
The objective of this study is to determine the behavior of the commercial portfolio of the private banking system of Ecuador during the period 2010-2018, the factors considered correspond to unproductive portfolio, late payment Rate, Gross Domestic Product (GDP), consumer price index , country risk, variation of public debt and liquidity. The data were obtained from the Superintendence of Companies, Central Bank of Ecuador and Superintendence of Banks. The methodology proposes two econometric models, the first the Mobile Media Integrated Autoregressive Univariate (ARIMA) by the estimates of the short-term variables and the second Multivariate of the covariance analysis (ANCOVA) allows to relate variables with the behavior of the commercial portfolio. The main results determine that the study factors cause alterations in the commercial portfolio, therefore, the conclusions are deduced to a banking system sensitive to economic crises, especially to external factors such as the price of oil and economic policy approaches.
Keywords: Commercial portfolio; late payment; liquidity; private banks; Ecuador.
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Xu, Ruomei, Yanrui Wu, and Jingdong Luan. "Analysis of farmers’ willingness to adopt genetically modified insect-resistant rice in China." China Agricultural Economic Review 8, no. 3 (September 5, 2016): 368–82. http://dx.doi.org/10.1108/caer-08-2015-0102.
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Purpose Genetically modified (GM) crops, particularly GM grain crops, have been controversial since their commercialization in 1996. However, only a few studies have investigated farmers’ attitudes toward adopting GM grain crops in China. The purpose of this paper is to explore farmers’ willingness to adopt GM insect-resistant rice prior to its commercial release in China and determines the factors that affect farmers’ prospective adoption decisions. Design/methodology/approach The data are collected using a questionnaire. Descriptive statistics are used to analyze the farmers’ potential willingness to adopt GM rice and level of awareness of GM rice and socioeconomic characteristics. Ordered and binary probit models are applied to identify the key factors that affect the farmers’ decision to adopt GM insect-resistant rice. Findings Descriptive statistics show that most farmers have little knowledge of GM rice, approximate 35.5 percent of farmers could plant GM rice, and over half of the respondents are uncertain whether or not they will adopt the new crops. The results of econometric analyses show that increasing output and income, and simplicity in crop management, have positive effects on prospective adoption, whereas the high-seed price of GM rice has a significantly negative effect. Health implications also have a significantly positive effect on the farmers’ decision to adopt GM grain crops. A comparative analysis of ordered and binary probit models demonstrates that farmers are more deliberate in their decisions when they have fewer choices. Aside from the above-mentioned variables, the following factors are also statistically significant in the probit model: government technicians’ recommendations, neighbors’ attitudes, level of environmental risks, and the farmer’s age. Originality/value Information on the major risks and benefits of GM rice was provided to the farmers in the questionnaire. The farmers were then asked to choose from the three ordered alternative answers, namely, “accept,” “uncertain,” and “reject”. Both ordered and binary probit models were applied to comparatively analyze the collected data. This study is one of a handful of studies that employ these econometric models to identify and explain the underlying factors that affect farmers’ decisions. The relevant findings have important implications for future agricultural policy in China.
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Matthews, Spencer, and Brian Hartman. "Machine Learning in Ratemaking, an Application in Commercial Auto Insurance." Risks 10, no. 4 (April 8, 2022): 80. http://dx.doi.org/10.3390/risks10040080.
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This paper explores the tuning and results of two-part models on rich datasets provided through the Casualty Actuarial Society (CAS). These datasets include bodily injury (BI), property damage (PD) and collision (COLL) coverage, each documenting policy characteristics and claims across a four-year period. The datasets are explored, including summaries of all variables, then the methods for modeling are set forth. Models are tuned and the tuning results are displayed, after which we train the final models and seek to explain select predictions. Data were provided by a private insurance carrier to the CAS after anonymizing the dataset. These data are available to actuarial researchers for well-defined research projects that have universal benefit to the insurance industry and the public. Our hope is that the methods demonstrated here can be a good foundation for future ratemaking models to be developed and tested more efficiently.
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KICHURCHAK, Marianna. "Household bank deposit market in Ukraine: structural and regional peculiarities." Fìnansi Ukraïni 2020, no. 8 (October 23, 2020): 26–41. http://dx.doi.org/10.33763/finukr2020.08.026.
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The household bank deposit market belongs to one of the important components of the financial system of each country, leading to the need to clarify the dynamics of its development in the national economy and its regions. The purpose of the article is to determine the main regularities of functioning the household bank deposit market in terms of regions and the nature of structural changes in it, to develop recommendations for improving its environment and working conditions in the economy of Ukraine. Scientific methods of deduction and induction, analysis and synthesis, comparison and econometric modelling have been used. Structural peculiarities of the evolution of this market in 2009-20118 are evaluated at the regional level and its development is compared with similar markets in Belarus and Poland. The author has established this market had a tendency towards gradual decrease based on the reaction of households due to changes in social and economic and political conditions and violation of the banking system integrity in the years after 2014. It is determined that there was a gradual increase of regional concentration indices caused by raising differences of regional social and economic characteristics and household expectations. The following scientific and methodological approach to determining the nature of the development of the household bank deposit market by regions of Ukraine is worked out: specification of the main factors, their subsequent concretization by finding chief parameters of econometric models and clarifying the impact of identified factors on the regional structure of this market. It is found out that the improvements of social and economic conditions and activation of the labour market at the regional level, prudent policy of commercial banks concerning interest rates on deposits will create a favourable environment for the development of this market by region and achievement of positive structural transformations.
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Hong, Pham Van, Nguyen Thao Nguyen, Dinh Tran Ngoc Huy, Nguyen Thu Thuy, and Le Thi Thanh Huong. "Evaluating Several Models of Quality Management and Impacts on Lychee Price Applying for Vietnam Agriculture Products Value Chain Sustainable Development." Alinteri Journal of Agricultural Sciences 36, no. 1 (March 10, 2021): 122–30. http://dx.doi.org/10.47059/alinteri/v36i1/ajas21018.
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Sustainability of Vietnam agriculture value chain will be dependent on various factors such as skills and experience of farmers, advanced technology, agricultural engineering, standards and models such as VIETGAP or GLOBAL GAP, etc. The role is still important, but Vietnam's agricultural production still has many Weakness points compared to other countries in the region when comparing resource use efficiency (land, water and labor). As a result, the efficiency of agricultural production tends to decrease recently. Specifically, the growth in average agricultural labor productivity annual rate of Vietnam also decreased correspondingly from 2.7% in the period 1990-1999 to 2.5% in the period 2000-2013 (World Bank, 2016). In Vietnam, we will evaluate the effectiveness of VIETGAP and GLOBAL GAP models, principles and standards applying in Vietnam agriculture value chain in a specific case study. The research results show a strict condition for applying VIETGAP and GLOBAL GAP for better quality in agriculture, including: Conditions for soil, irrigation water, fertilizers, pest control, etc. Last but not least, we also use an econometric model to measure impacts of multi macro factors on lychee price in Vietnam market over past years 2014-2019. Regression results show that we need to control inflation at low level, stable GDP growth and trade balance and exchange rate to stabilize lychee price. The research findings are of value to policy makers, farmers and investors in making decisions to invest for sustainability of Vietnam agriculture value chain. We will also make suggestions for commercial bank system in agriculture sector development.
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Juszczyk, Sławomir, Wioleta Bartosiak, Bartosz Kublik, and Łukasz Mleczko. "MACROECONOMIC FACTORS AS TOOLS FOR STIMULATION OR DESTIMULATION OF AGRIBUSINESS LOANS IN CRISIS SITUATION." Zeszyty Naukowe SGGW, Polityki Europejskie, Finanse i Marketing, no. 28(77) (December 30, 2022): 93–103. http://dx.doi.org/10.22630/pefim.2022.28.77.17.
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The study attempts to identify changes in the loan market for agribusiness enterprises, including farms in Poland, during the COVID-19 pandemic. The research used data from the Central Statistical Office and the Credit Information Bureau for 2017-2020. In the course of research, an econometric model was constructed explaining the volume of loans to the above-mentioned entities by commercial and cooperative banks in Poland during the pandemic. The program Statistica 13.3 was used. The analysis covers all loans granted in Poland on a monthly basis in 2017-2021. During this period, banks granted a total of 307 012 loans to individual farmers, and their volume amounted to almost PLN 30 billion. In the course of the research, it was found that in the years 2017-2021, the volume of loans for agribusiness entities, including farms, was decisively influenced by such factors as refinancing loan rate (stimulant), rediscount rate (destimulant), and general economic climate in manufacturing index (stimulant). The set of explanatory variables in the models may be a premise for the introduction of specific improvements in the credit policy of banks servicing agribusiness in the form of tightening or liberalizing credit requirements. The research results can also be used by banks to effectively plan future sales targets and interest income from these loans.
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Wijayanti, Dhreti Cesta, and Khoirunurrofik Khoirunurrofik. "Strategic Interaction Between the Agglomeration of High-Rise Buildings and the Economy of DKI Jakarta." International Journal of Sustainable Development and Planning 17, no. 5 (August 31, 2022): 1449–59. http://dx.doi.org/10.18280/ijsdp.170509.
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Vertical building development has become a strategic solution in accommodating the need for living and working spaces in DKI Jakarta with its land scarcity issues. As a response to the increasing demand for space, the government and experts constantly update the strategic policies for high-rise building development while the developers plan and construct more buildings for business purposes. This study aims to investigate the economic and non-economic factors that affect the development of high-rise buildings and the relationship between the agglomeration of high-rise buildings and the tertiary sector GRDP. To achieve these objectives, we primarily use the data of the number of floors of high-rise buildings collected from Emporis. Other variables are retrieved from the secondary data collected from the official data of the DKI Jakarta government. Pooled OLS estimation of panel data in the 2007-2018 urban village level proves that the strategic interactions occur during the construction of commercial-office and residential high-rise buildings in DKI Jakarta. The estimation result at the city level provides evidence that the presence of commercial-office high-rise buildings in DKI Jakarta generates effective density as it contributes positively to the tertiary sector GRDP. This study provides a new perspective in examining the relationship between the agglomeration of the economy and high-rise buildings in third-world cities, in this case, DKI Jakarta, by using quantitative research through econometric models.
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Hartarska, Valentina, Denis Nadolnyak, and Xuan Shen. "Agricultural credit and economic growth in rural areas." Agricultural Finance Review 75, no. 3 (September 7, 2015): 302–12. http://dx.doi.org/10.1108/afr-04-2015-0018.
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Purpose – In this paper, the authors set out to establish if there is a link between finance and economic growth in rural areas. The purpose of this paper is to evaluate the relation between credit by major lenders in rural areas – commercial banks and Farm Credit System (FCS) institutions – and economic growth for the period 1991-2010. Design/methodology/approach – The motivation for this work comes from empirical studies showing a link between economic development and financial system development as well as from work which highlights the positive role of long-term finance provided by banks. The authors use two alternative panel data sets and fixed effects models to estimate the causal effect of credit supply (with lagged explanatory variables) on agricultural GDP growth per rural resident. Findings – The authors find a positive association between agricultural lending and agricultural GDP growth per rural resident with additional billion in loans (about a third of the actual average) associated with 7-10 percent higher state growth rate with this association stronger during the 1990s. Regional data confirm these results. The results point to a positive link between credit and economic growth in rural areas during that period, attributable to the lending by FCS institutions and by commercial banks. Research limitations/implications – Data availability limits the scope of this paper. The authors use state level balance sheet data available for the 1991-2003 period and annual data for 2003-2010 period. An additional regional data set is constructed for 1991-2010 with more aggregated data for the ten USDA agricultural production regions. The small number of panels limits the ability to use more sophisticated econometric models and the choice of dependent variables that captures economic growth. Practical implications – By provides evidence that agricultural finance and in particular lending contribute significantly to the growth of US agriculture, this paper contributes to the policy debate on weather support for agricultural finance initiatives is justified. Originality/value – The authors are not aware of another study that has linked agricultural lending by commercial banks and FCS institutions to growth in rural areas in the USA.
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Chen, Shaopei, Dachang Zhuang, and Huixia Zhang. "GIS-Based Spatial Autocorrelation Analysis of Housing Prices Oriented towards a View of Spatiotemporal Homogeneity and Nonstationarity: A Case Study of Guangzhou, China." Complexity 2020 (April 23, 2020): 1–16. http://dx.doi.org/10.1155/2020/1079024.
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In the past decades, the booming growth of housing markets in China triggers the urgent need to explore how the rapid urban spatial expansion, large-scale urban infrastructural development, and fast-changing urban planning determine the housing price changes and spatial differentiation. It is of great significance to promote the existing governing policy and mechanism of housing market and the reform of real-estate system. At the level of city, an empirical analysis is implemented with the traditional econometric models of regressive analysis and GIS-based spatial autocorrelation models, focusing in examining and characterizing the spatial homogeneity and nonstationarity of housing prices in Guangzhou, China. There are 141 neigborhoods in Guangzhou identified as the independent individuals (named as area units), and their values of the average annual housing prices (AAHP) in (2009–2015) are clarified as the dependent variables in regressing analysis models used in this paper. Simultaneously, the factors including geographical location, transportation accessibility, commercial service intensity, and public service intensity are identified as independent variables in the context of urban development and planning. The integration and comparative analysis of multiple linear regression models, spatial autocorrelation models, and geographically weighted regressing (GWR) models are implemented, focusing on exploring the influencing factors of house prices, especially characterizing the spatial heterogeneity and nonstationarity of housing prices oriented towards the spatial differences of urban spatial development, infrastructure layout, land use, and planning. This has the potential to enrich the current approaches to the complex quantitative analysis modelling of housing prices. Particularly, it is favorable to examine and characterize what and how to determine the spatial homogeneity and nonstationarity of housing prices oriented towards a microscale geospatial perspective. Therefore, this study should be significant to drive essential changes to develop a more efficient, sustainable, and competitive real-estate system at the level of city, especially for the emerging and dynamic housing markets in the megacities in China.
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Stafford, Tess M. "Accounting for outside options in discrete choice models: An application to commercial fishing effort." Journal of Environmental Economics and Management 88 (March 2018): 159–79. http://dx.doi.org/10.1016/j.jeem.2017.10.006.
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Albornoz-Flores, Ana Cristina, and Luis Bernardo Tonon-Ordóñez. "Aplicación del Modelo de Gravedad entre Ecuador y la Unión Europea para el periodo 2001 – 2017." UDA AKADEM, no. 6 (October 5, 2020): 10–45. http://dx.doi.org/10.33324/udaakadem.v1i6.315.
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La presente investigación analizó el comercio existente entre Ecuador y la Unión Europea, para el período 2001 – 2017 de forma semestral. El objetivo del estudio fue determinar la influencia de determinadas variables en la relación comercial entre estos dos entes económicos, para lo cual, se aplicó, como herramienta econométrica, el modelo de gravedad, a través del uso de datos de panel con efectos aleatorios y mediante el método de mínimos cuadrados ordinarios. Se comprobó que, para el comercio entre Ecuador y la Unión Europea, las variables de los PIB de cada país y la distancia entre las capitales de los diferentes países estudiados, son los que determinan el intercambio comercial total entre Ecuador y la Unión Europea en un 45.67% (coeficiente de determinación ajustado). Los coeficientes obtenidos para cada variable independiente fueron de: 1.24 para el PIB del Ecuador, 0.78 para el PIB de cada país de la Unión Europea y de 5.57 para la distancia entre los países estudiados. Siendo este un modelo robusto, con significancia econométrica y que presenta los signos esperados. De manera que, la aplicación de este modelo permitió aportar a la investigación económica del país y generar una herramienta que facilite la toma de decisiones con relación a la política comercial ecuatoriana con la Unión Europea.Palabras Clave: Comercio Exterior, economía internacional, modelo de gravedad, Unión Europea, Ecuador.Abstract
This investigation analyzed the existing commerce between Ecuador and the European Union for the period 2001 - 2017. The aim of the study was to determine the influence of certain variables on the commercial relationship between these two economic agents. For which the gravity model was applied, as an econometric tool, through the use of panel data with random effects and applying the method of ordinary least squares. It was found that, for the trade between Ecuador and the European Union the variables of the GDP of each country and the distance between the capitals of the different countries studied, are those that determine the total commercial exchange between Ecuador and the European Union by 45.67% (adjusted coefficient of determination). The coefficients obtained for each independent variable were: 1.24 for the GDP of Ecuador, 0.78 for the GDP of each country in the European Union, and 5.57 for the distance between the countries studied. Being this regression a robust model, with econometric significance that presents the expected signs. The application of this model allowed us to contribute to the economic research of the country and generate a tool that facilitates decision making in relation to Ecuadorian trade policy with the European Union.Keywords: Gravity model, international economy, international trade, European Union, Ecuador.
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Toindepi, Joseph. "Investigating a best practice model of microfinance for poverty alleviation." International Journal of Social Economics 43, no. 4 (April 11, 2016): 346–62. http://dx.doi.org/10.1108/ijse-05-2014-0091.
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Purpose – The purpose of this paper is to establish what constitutes best practice models of microfinance for poverty alleviation. It argues that the new microfinance phenomenon characterized by two camps; commercial and developmental players should be recognized as legitimate separate microfinance approaches with different aims and motives. This paper aims to establish strong foundational argument for developing parallel thinking and separate best practice models for effective engagement with each approach. Design/methodology/approach – Rapid evidence assessment methodology was used to systematically identify and analyze a comprehensive list of relevant literature on best practice models of microfinance for poverty alleviation from both online and offline publications. Over 40 publications on microfinance best practice were critically reviewed with a specific attention to how the two approaches to microfinance (commercial and developmental) were dealt with in relation to impact on poverty and best practice approaches. Findings – The paper argues that, business priorities of commercial microfinance providers differ significantly to those of development microfinance providers and this impacts on the program design which means clients of each regardless of coming from the same target group may have different experiences. The microfinance concept evolved far beyond any single philosophical or ideological confinement that there is now need for formal recognition and acknowledgment that commercial and developmental microfinance paradigms are parallel models of approaches whose continuous evolution is less likely to converge in the near future, so should be treated separately. Research limitations/implications – Because the purpose, challenges and requirements of commercial and developmental microfinance approaches are different, continued lack of purposeful distinction between the two will continue to cause confusion and lack of precision in policy response on specific sector challenges. Further work and discourse on the impact of both commercial and developmental approach to microfinance on service delivery to the poor is required to test the implications on best practice. Originality/value – The paper highlights the fundamental flaw in the current perspective of microfinance sector which fails to recognize irreconcilable parallel approaches underpinned by different motives.
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Nguyen, Huu Huan, Minh Vu Ngo, and Thanh Phuc Nguyen. "Market structure, state ownership and monetary policy transmission through bank lending channel: Evidence from Vietnamese commercial banks." Economics and Business Letters 10, no. 3 (August 2, 2021): 164–77. http://dx.doi.org/10.17811/ebl.10.3.2021.164-177.
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This paper examines the impact of market structure and state ownership on bank lending as a transmission channel for monetary policies. For controlling the effects of bank heterogeneities and macroeconomic factors on bank lending, dynamic models using two-step difference GMM with panel data collected from 25 Vietnamese commercial banks and the Vietnamese banking sector from 1999 to 2017 are employed. Results indicate that a higher level of concentration in the banking market and state ownership dampen the expected impacts of interbank interest rate on the loan growth in commercial banks, which decreases the effectiveness of monetary policy via the bank lending channel. These results are robust regarding the use of alternative measures of market structure and the inclusion of event time variables in the dynamic model. Based on the findings, monetary policy could be implied using the significant moderating impacts of state-ownership as well as the market structure of the Vietnamese banking sector on the relationship between bank loan supply and interbank interest rate.
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León Serrano, Lady Andrea. "Deuda externa y crecimiento económico de México, período 2002-2014." ECA Sinergia 10, no. 3 (September 17, 2019): 119. http://dx.doi.org/10.33936/eca_sinergia.v10i3.1882.
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México es uno de los países más influyentes de América Latina, por el avance comercial, manejo crediticio y de crisis económicas, a pesar de tener índices de endeudamiento externo altos, es considerada una economía emergente. Por tal motivo, el objetivo de estudio es conocer el impacto de la deuda externa en el crecimiento económico de México, período 2002–2014. Se ha considerado variables macroeconómicas con la aplicación de modelos econométricos como regresión bivariado y múltiple, los datos corresponden al Anuario Estadístico de América Latina y el Caribe (CEPAL). Los resultados evidencian una fuerte correlación inversa entre deuda externa y desempleo, y una débil relación con inflación y producto interno bruto. Se concluye que los porcentajes de desempleo afectan el nivel de endeudamiento externo provocando renegociaciones de deuda para solventar necesidades internas en el marco de decisiones de política macroeconómica.
Palabras clave: deuda externa, desempleo, inflación, producto interno bruto, crecimiento.
ABSTRACT
Mexico is one of the most influential countries in Latin America, because of the commercial advance, credit management and economic crises, despite having high external debt ratios, it is considered an emerging economy. For this reason, the objective of the study is to know the impact of external debt on Mexico’s economic growth, 2002-2014 period. Macroeconomic variables have been considered with the application of econometric models such as bivariate and multiple regression, the data correspond to the Statistical Yearbook for Latin America and the Caribbean (ECLAC). he results show a strong inverse correlation between external debt and unemployment, and a weak relationship with inflation and gross domestic product. It is concluded that the percentages of unemployment affect the level of external indebtedness causing debt renegotiations to solve internal needs within the framework of macroeconomic policy decisions.
Key words: External debt, unemployment, inflation, gross domestic product, growth.
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Chen, Kevin Z., Pramod K. Joshi, Enjiang Cheng, and Pratap S. Birthal. "Innovations in financing of agri-food value chains in China and India." China Agricultural Economic Review 7, no. 4 (November 2, 2015): 616–40. http://dx.doi.org/10.1108/caer-02-2015-0016.
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Purpose – The purpose of this paper is to synthesize lessons from the agricultural value chain models and their associated financing mechanisms in China and India as to provide policy recommendations on how best to facilitate development of efficient and inclusive value chains. Design/methodology/approach – The paper builds on a review of the existing literature on agricultural value chains and their financing mechanisms, and draws lessons from it for strengthening interface between product and financial markets in order to enable smallholders capture benefits of the value addition. Findings – From the comparative review of value chain financing mechanisms and current policy contexts the authors find dominance of internal financing of value chains (in terms of provision of inputs, technology and services) in both the countries. Value chain finance from commercial banks and other financial institutions is limited and mainly through tripartite agreements among the financing institutions, lead firms and farmers. Practical implications – The lessons drawn from various value chain models and their financing mechanisms provide feedback to financial institutions and policymakers to take measures to strengthen value chain finance in smallholder agriculture. Originality/value – The paper undertakes a rigorous review of the existing value chain models and their financing mechanisms in light of the most recent research on emerging innovations and development strategies, in order to glean key lessons for policy recommendations on strengthening linkages between financial and product markets.
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Hachicha, Ahmed, and Cheng-Few Lee. "Are Structural VARs with Long-Run Restrictions Useful for Developing Monetary Policy Strategy in Egypt?" Review of Pacific Basin Financial Markets and Policies 12, no. 03 (September 2009): 509–27. http://dx.doi.org/10.1142/s0219091509001721.
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On the basis of SVAR models of monetary policy in Egypt for the period December 1976–May 2006, our paper explores a new empirical assessment for the interest rate channel in correcting trouble in the Egyptian economy by imposing contemporaneous and long run restrictions. It appears that after a monetary policy expansion, output is stable in the first period, rises temporarily reaching the baseline at t = 40, and the global monetary aggregate rises but not significantly. In addition, the price level rises with great difficulties in response to a negative interest rate shock to the global liquidity aggregate. The excess of money supply has a transitory effect on the Egyptian output but it causes inflation pressures. SVAR Blanchard and Quah (1989) estimation reveals contradictory results to the previous findings. Last but certainly not least, this means that the effect of bank lending and the interest rate channels on the economy are limited in time. The paper shows that the transmission of monetary policy through the interest rate channel has become weak in the short run but more important in the long run. Nonetheless, the bank lending channel through the commercial bank lending is not a potent monetary transmission mechanism.
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Korzeb, Zbigniew, Paweł Niedziółka, and Monika Zegadło. "Assessment of the Impact of Commercial Banks’ Operating Activities on the Natural Environment by Use of Cluster Analysis." Risks 10, no. 6 (June 9, 2022): 119. http://dx.doi.org/10.3390/risks10060119.
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The aim of the paper is to identify groups of banks with similar environmental commitment, taking into account their direct environmental impact. The study, which employs the aggregation method, reveals that small banks with a relatively worse financial standing are characterised by the lowest level of disclosures within pro-ecological initiatives. At the same time, large international banks belong to clusters defined by the highest or the lowest disclosure rates. The above-mentioned phenomenon results from the dichotomy of integrating environmental policy into their strategies and business models. This study is the first comparative analysis of the extent to which all listed (and at the same time the biggest) banks operating in Poland have taken initiatives to reduce the negative environmental impact of their activities.
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Abdullah, Nermeen, and Yong Tan. "Profitability of commercial banks revisited: new evidence from oil and non-oil exporting countries in the MENA region." Investment Management and Financial Innovations 14, no. 3 (October 11, 2017): 62–73. http://dx.doi.org/10.21511/imfi.14(3).2017.06.
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This paper investigates the determinants of commercial bank profitability in oil and non-oil countries of the Middle East and North Africa (MENA) region using data from 11 countries over the period 2004–2014. Since banks are under no obligation to fill reports to Bankscope database, irregular reporting banks are omitted from the sample and the model is re-estimated using only regular reporting banks, and a comparative analysis between total banks’ sample and regular reporting banks’ sample is provided. Using the two-step system GMM and fixed effects models, the results indicate that credit risk is negative and highly significant when irregular reporting banks are omitted from the sample, particularly in the non-oil group, unlike the oil countries case, which indicates that adding irregular reporting banks to the sample could lead to bias in some estimated coefficients if they constitute a considerable percentage of the total banks’ sample. Diversification is a key determinant for profitability in oil countries. No enough evidence to support the impact of financial inclusion and financial openness on bank profitability. In addition, the global financial crisis has significantly affected bank profitability in oil countries. Several policy implications are provided to the bank management to follow based on each country group.
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BOWN, CHAD P., and JENNIFER A. HILLMAN. "Bird Flu, the OIE, and National Regulation: The WTO's India–Agricultural Products Dispute." World Trade Review 15, no. 2 (March 2, 2016): 235–57. http://dx.doi.org/10.1017/s1474745615000701.
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AbstractThis paper provides a legal-economic assessment of issues arising in the Panel Report over the WTO's India–Agricultural Products dispute, one of a growing list of disputes arising at the intersection of the WTO and domestic regulatory policy over human, animal, or plant health. This dispute featured allegations that India's import measures applied against avian influenza- (AI-) infected countries over poultry and related products were too restrictive, in light of the World Organisation for Animal Health's (OIE's) scientifically motivated standards and guidelines. We rely on insights from a set of economic models of commercial poultry markets in the presence of negative externalities such as AI. We use such models to motivate critical tradeoffs arising at the intersection of government regulatory regimes designed to deal with AI and how they fit alongside trade agreements such as the WTO and standard-setting bodies such as the OIE, which combine to impose constraints on regulatory and trade policy. While we find the institutional design of the OIE to be well-motivated and we are in broad agreement with the overall thrust of the Panel Report in the dispute, we also highlight a number of subtle issues which pose long-term challenges for the multilateral trading system's ability to balance trade rules with public health concerns.
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Pan, Luyu. "Integrated development of inclusive finance and green finance promotes rural revitalization." Advances in Economics and Management Research 1, no. 2 (September 21, 2022): 193. http://dx.doi.org/10.56028/aemr.1.2.193.
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In 2016, China put forward the topic of green finance and inclusive finance at the G20 Summit in Hangzhou. Since then, more and more scholars in China have paid attention to the possibility and influence of the integrated development of green finance and inclusive finance. In recent years, China has gradually established a domestic green financial market system through a series of measures such as issuing green financial standards, disclosure requirements and encouraging green financial product innovation. According to data from the National Statistical Bulletin, by the end of 2021, the loan balance of major rural financial institutions (rural credit cooperatives, rural cooperative banks, rural commercial banks) was 2.42496 trillion yuan, an increase of 2.6607 billion yuan compared with the beginning of the year. From the perspective of Liaoning Province, at the end of 2020, the balance of loans in domestic and foreign currencies of banking financial institutions in Liaoning was 520.94 billion yuan, an increase of 262.68-billion-yuan year-on-year, an increase of 5.3% year-on-year. The growth rate slowed down, with a decrease of 4.9 percentage points compared with the previous year. Firstly, we select a series of indicators and use entropy method to calculate the weight of each indicator. According to the analysis and processing of historical data, the quantization results of core explained variables, core explained variables and control variables are obtained. Descriptive statistics are made according to China Rural Statistical Yearbook and Peking University Digital China GSP Financial Index (2011-2020). Then, four spatial econometric models, namely spatial Dubbin model, spatial autoregression model, spatial correlation model and spatial error model, were applied to analyze the development relationship between digital inclusive finance and rural revitalization. Based on the evaluation system of rural revitalization, the development level of rural revitalization was obtained by combining the relevant data of 30 provinces in China from 2011 to 2021. Finally, the application of LR inspection, LM test to verify the reliability of the regression results, and considering the effect of partial differential decomposition method is used to the calculation results are decomposed, the weights in different space under the condition of digital Pratt & Whitney directly influence to the time of rural financial revitalization policy and policy space spillover effects, further analysis Pratt &Whitney financial relationship with the revitalization of the development of the rural.
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Pan, Luyu. "Integrated development of inclusive finance and green finance promotes rural revitalization." Advances in Economics and Management Research 2, no. 1 (September 21, 2022): 193. http://dx.doi.org/10.56028/aemr.2.1.193.
Full textAbstract:
In 2016, China put forward the topic of green finance and inclusive finance at the G20 Summit in Hangzhou. Since then, more and more scholars in China have paid attention to the possibility and influence of the integrated development of green finance and inclusive finance. In recent years, China has gradually established a domestic green financial market system through a series of measures such as issuing green financial standards, disclosure requirements and encouraging green financial product innovation. According to data from the National Statistical Bulletin, by the end of 2021, the loan balance of major rural financial institutions (rural credit cooperatives, rural cooperative banks, rural commercial banks) was 2.42496 trillion yuan, an increase of 2.6607 billion yuan compared with the beginning of the year. From the perspective of Liaoning Province, at the end of 2020, the balance of loans in domestic and foreign currencies of banking financial institutions in Liaoning was 520.94 billion yuan, an increase of 262.68-billion-yuan year-on-year, an increase of 5.3% year-on-year. The growth rate slowed down, with a decrease of 4.9 percentage points compared with the previous year. Firstly, we select a series of indicators and use entropy method to calculate the weight of each indicator. According to the analysis and processing of historical data, the quantization results of core explained variables, core explained variables and control variables are obtained. Descriptive statistics are made according to China Rural Statistical Yearbook and Peking University Digital China GSP Financial Index (2011-2020). Then, four spatial econometric models, namely spatial Dubbin model, spatial autoregression model, spatial correlation model and spatial error model, were applied to analyze the development relationship between digital inclusive finance and rural revitalization. Based on the evaluation system of rural revitalization, the development level of rural revitalization was obtained by combining the relevant data of 30 provinces in China from 2011 to 2021. Finally, the application of LR inspection, LM test to verify the reliability of the regression results, and considering the effect of partial differential decomposition method is used to the calculation results are decomposed, the weights in different space under the condition of digital Pratt & Whitney directly influence to the time of rural financial revitalization policy and policy space spillover effects, further analysis Pratt &Whitney financial relationship with the revitalization of the development of the rural.
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Hallam, David. "Econometric models and agricultural policy." Agricultural Administration and Extension 25, no. 1 (January 1987): 49–62. http://dx.doi.org/10.1016/0269-7475(87)90057-2.
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Clapp, John M., Deborah Bickford, Charles Vehorn, and James Bell. "Regional policy handles in econometric models." Regional Science and Urban Economics 16, no. 4 (November 1986): 589–604. http://dx.doi.org/10.1016/0166-0462(86)90025-6.
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Ouedraogo, Adama, Irene S. Egyir, Mathieu Ouedraogo, and John Baptist D. Jatoe. "Farmers’ Demand for Climate Information Services: A Systematic Review." Sustainability 14, no. 15 (July 23, 2022): 9025. http://dx.doi.org/10.3390/su14159025.
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The importance of climate information services (CIS) for farm decision-making is known worldwide. Its use is widely recommended by academics, governments, and development partners, especially in Africa. However, the supply of commercial CIS in Africa remains very low. Considering that the commercial CIS suppliers are business-oriented, the lack of supply is mainly due to the lack of evidence on the demand for it. The specific objectives of the review were to assess the demand for CIS, the key characteristics of the demanded CIS. and the key drivers for the demand for CIS in the Economic Community of West African States (ECOWAS). Through a systematic review, 123 articles were identified on the SCOPUS and Google Scholar databases and 52 papers were included in the study. The models of assessment done by the majority of authors were a simple description based on needs assessments and econometrics modelling to identify the key drivers. The results show that 68% of the farmers in ECOWAS demanded CIS. The average willingness to pay for CIS is estimated to be USD 2.01 for daily forecasts. The usability of CIS, daily forecasts and geolocalized CIS, and customized CIS are the key characteristics farmers are looking for in the ECOWAS region. The main drivers of CIS demand are price, income, vulnerability to climate variability, beliefs and religion, complementary services, gender, type of crops, and farm size. According to the consumer theory, information such as elasticity of price and income, ranked substitutes of CIS, which are still lacking, are key for understanding the CIS demand. However, the review showed that little research work has been conducted in this area. The review also shows the importance of determining among which type of goods CIS should be classified. Knowing whether CIS is a necessity good is vital for suppliers’ decision-making.
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Reifschneider, David L., David J. Stockton, and David W. Wilcox. "Econometric models and the monetary policy process." Carnegie-Rochester Conference Series on Public Policy 47 (December 1997): 1–37. http://dx.doi.org/10.1016/s0167-2231(98)00002-5.
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Taylor, John B. "Econometric models and the monetary policy process." Carnegie-Rochester Conference Series on Public Policy 47 (December 1997): 39–42. http://dx.doi.org/10.1016/s0167-2231(98)00003-7.
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SKVARCIANY, Viktorija, and Daiva JUREVIČIENĖ. "FACTORS AFFECTING PERSONAL CUSTOMERS’ TRUST IN TRADITIONAL BANKING: CASE OF THE BALTICS." Journal of Business Economics and Management 18, no. 4 (July 10, 2017): 636–49. http://dx.doi.org/10.3846/16111699.2017.1345784.
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Nobody disputes that trust is an important issue in choosing a financial service provider, especially in the area of new forms of banking. The goal of this paper is to assess the most important determinants of trust in traditional banking. The study was conducted in the baltics and personal customers had to rank the distinguished factors. Using correlation analysis and binary logistic regression model it was found that the most significant factor influencing trust in all countries is provided information by the bank. In addition, in lithuania – bank’s characteristics, in latvia – customers’ risk perception and bank’s characteristics, in estonia – respondents’ experience of cooperation with a bank were highlighted as significant. The following measures of fit are used in order to describe the created logistic models: contingency table test, nagelkerke pseudo-r2, pearson chisquare test, wald test. However, there is a limitation – the survey was conducted online. Nevertheless, as internet penetration rate is high enough in investigated countries (from 76 percent in latvia to 91 percent in estonia), survey results can be adapted for at least seventy-five percent of each country’s population. The findings have implications on the development of the strategy and the policy of commercial banks.
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Baranovskyi, O. I., M. O. Kuzheliev, D. M. Zherlitsyn, O. S. Sokyrko, and A. V. Nechyporenko. "ECONOMETRIC MODELS OF MONETARY POLICY EFFECTIVENESS IN UKRAINE." Financial and credit activity: problems of theory and practice 3, no. 30 (September 30, 2019): 226–35. http://dx.doi.org/10.18371/fcaptp.v3i30.179546.
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Mount, Timothy D. "Policy Analysis with Time‐Series Econometric Models: Discussion." American Journal of Agricultural Economics 71, no. 2 (May 1989): 507–8. http://dx.doi.org/10.2307/1241622.
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Todd, Richard M. "Policy Analysis with Time‐Series Econometric Models: Discussion." American Journal of Agricultural Economics 71, no. 2 (May 1989): 509–10. http://dx.doi.org/10.2307/1241623.
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Stutzman, Sarah Anne. "Differences across farm typologies in capital investment during 1996-2013." Agricultural Finance Review 78, no. 1 (February 5, 2018): 41–64. http://dx.doi.org/10.1108/afr-01-2017-0002.
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Purpose The purpose of this paper is to examine the impact of changes in farm economic conditions and macroeconomic trends on US farm capital expenditures between 1996 and 2013. Design/methodology/approach A synthetic panel is constructed from Agricultural Resource Management Survey (ARMS) data. A dynamic system GMM regression model is estimated for farms as a whole and separately within farm typology categories. The use of farm typologies allows for comparison of the relative magnitudes of these estimates across farms by farm sales level and the operator’s primary occupation. Findings Changes in gross farm income levels, tax depreciation rates, and interest rates have a significant impact on crop farm investment, while changes in output prices, net cash farm income levels, tax depreciation rates, and farm specialization levels have significant impacts on livestock farm capital investment. The relative significance and magnitudes of these impacts differ within farm typologies. Significant differences include a greater responsiveness to change in tax policy variables for residential crop farms, greater responsiveness to changes in output prices and debt to asset ratios for intermediate livestock farms, and larger changes in commercial crop and livestock farm investment given equivalent changes in farm sales or the returns to investment. Research limitations/implications These findings are of interest to agricultural economists when constructing farm investment models and employing pseudo panel methods, to those in the agricultural equipment and manufacturing sector when constructing models to manage inventories and plan for production needs across regions and over time, to those involved in drafting tax policy and evaluating the potential impacts of tax changes on agricultural investment, and for those in the agricultural lending sector when designing and executing agricultural capital lending programs. Originality/value This study uniquely identifies differences in the level of investment and the magnitude of investment responsiveness to changes in farm economic conditions and macroeconomic trends given differences in income levels and primary operator occupation. In addition, this study is one of the few which utilizes ARMS data to study farm capital investment. Utilizing ARMS data provides a rich panel data set, covering producers across many different crop production types and regions. Finally, employing pseudo panel construction methods contributes to efforts to effectively employ cross-sectional data and dynamic models to study farm behavior across time.
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Cook, Scott J., Seung-Ho An, and Nathan Favero. "Beyond Policy Diffusion: Spatial Econometric Models of Public Administration." Journal of Public Administration Research and Theory 29, no. 4 (August 30, 2018): 591–608. http://dx.doi.org/10.1093/jopart/muy050.
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Abstract Interdependence in the decision-making or behaviors of various organizations and administrators is often neglected in the study of public administration. Failing to account for such interdependence risks an incomplete understanding of the choices made by these actors and agencies. As such, we show how researchers analyzing cross-sectional or time-series-cross-sectional (TSCS) data can utilize spatial econometric methods to improve inference on existing questions and, more interestingly, engage a new set of theoretical questions. Specifically, we articulate several general mechanisms for spatial dependence that are likely to appear in research on public administration (isomorphism, competition, benchmarking, and common exposure). We then demonstrate how these mechanisms can be tested using spatial econometric models in two applications: first, a cross-sectional study of district-level bilingual education spending and, second, a TSCS analysis on state-level healthcare administration. In our presentation, we also briefly discuss many of the practical challenges confronted in estimating spatial models (e.g., weights specification, model selection, effects calculation) and offer some guidance on each.
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Don, F. J. H. "How Econometric Models help Policy Makers: Theory and Practice." De Economist 152, no. 2 (June 2004): 177–95. http://dx.doi.org/10.1023/b:ecot.0000023255.42322.d7.
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Kaboudan, Mahmoud A. "Oil Revenue and Kuwait's Economy: An Econometric Approach." International Journal of Middle East Studies 20, no. 1 (February 1988): 45–66. http://dx.doi.org/10.1017/s0020743800057500.
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This paper presents a macroeconomic model for a small developing oil-exporting economy: Kuwait. The model is a simultaneous system of difference equations. Historic effects of changes in revenues from oil exports on the country's economic conditions are simulated. The model is then used to forecast these conditions through 1990, and to test two fiscal policy alternatives under the assumption that revenues from Kuwait's oil exports will remain constant from 1986 to 1990. The following are key words: developing economies; oil-exporting economies; Middle East economies; Kuwait; Kuwait's economy; policy models; macroeconomic models; econometric models; macroeconometric models; forecasting models; and policy models.
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Andrijauskiene, Meda, Daiva Dumciuviene, and Alina Stundziene. "EU framework programmes: positive and negative effects on member states' innovation performance." Equilibrium 16, no. 3 (September 30, 2021): 471–502. http://dx.doi.org/10.24136/eq.2021.017.
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Research background: Seeking to ensure competitiveness in the global market, the EU is constantly improving its innovation policy. Compared to other EU initiatives, the Framework Programs for Research and Innovation (FPs) act as the main instrument with the longest history and the largest budget to boost member states' innovation performance. Despite the initial presumptions that these financial inflows should bring positive and constructive effects, the results significantly diverge across the countries with highly uneven and incoherent progress. Therefore, complex and reliable tools must be adopted to evaluate the long-term influence of EU investment and the reasons which distort the innovation performance in separate member states.
Purpose of the article: The purpose of this article is to evaluate the influence of EU investment on its member states? innovation performance by using a redeveloped national innovative capacity framework and including technological, non-technological and commercial innovative output.
Methods: Panel unit root tests were used to assess the time series stationarity. Autoregressive distributed lag models helped in calculating the long-term influence of EU investment on member states? innovation performance. Finally, by employing dummies, it was analysed how this influence varied over time and across different countries.
Findings & value added: The findings provide evidence that EU investment exerts positive long-term influence on the technological innovative output proxied as total, business and higher education institutions? patent applications, as well as product and process innovations. The effects were also positive on trademarks and marketing, and organisational innovations. However, small but negative influence was found in the case of patent applications by the government sector and the exports of hi-tech products and knowledge-intensive services. These insights may serve in the designing process of the specific instruments and the future innovation policies, which would bring the maximum benefit for the society and economy.
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Andrijauskiene, Meda, Daiva Dumciuviene, and Alina Stundziene. "EU framework programmes: positive and negative effects on member states' innovation performance." Equilibrium 16, no. 3 (September 30, 2021): 471–502. http://dx.doi.org/10.24136/eq.2021.017.
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Research background: Seeking to ensure competitiveness in the global market, the EU is constantly improving its innovation policy. Compared to other EU initiatives, the Framework Programs for Research and Innovation (FPs) act as the main instrument with the longest history and the largest budget to boost member states' innovation performance. Despite the initial presumptions that these financial inflows should bring positive and constructive effects, the results significantly diverge across the countries with highly uneven and incoherent progress. Therefore, complex and reliable tools must be adopted to evaluate the long-term influence of EU investment and the reasons which distort the innovation performance in separate member states.
Purpose of the article: The purpose of this article is to evaluate the influence of EU investment on its member states? innovation performance by using a redeveloped national innovative capacity framework and including technological, non-technological and commercial innovative output.
Methods: Panel unit root tests were used to assess the time series stationarity. Autoregressive distributed lag models helped in calculating the long-term influence of EU investment on member states? innovation performance. Finally, by employing dummies, it was analysed how this influence varied over time and across different countries.
Findings & value added: The findings provide evidence that EU investment exerts positive long-term influence on the technological innovative output proxied as total, business and higher education institutions? patent applications, as well as product and process innovations. The effects were also positive on trademarks and marketing, and organisational innovations. However, small but negative influence was found in the case of patent applications by the government sector and the exports of hi-tech products and knowledge-intensive services. These insights may serve in the designing process of the specific instruments and the future innovation policies, which would bring the maximum benefit for the society and economy.
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Wu, Q., and JW Hay. "PMT25: COMPARATIVE ECONOMETRIC MODELS OF MEDICAL COSTS." Value in Health 3, no. 2 (March 2000): 110. http://dx.doi.org/10.1016/s1098-3015(11)70475-2.
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Vardomskiy, Leonid. "Vietnam and Russia: Mutual Economic Cooperation in Changing Geopolitical and Geo-Economic Conditions." Spatial Economics 18, no. 4 (2022): 181–200. http://dx.doi.org/10.14530/se.2022.4.181-200.
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The issues of mutual economic relations between Vietnam and Russia (SRV) in the context of global transformations are studied. In Soviet times, it was based on technical and financial assistance to the USSR, which was determined by ideological proximity and geopolitical interests. Market transit and the orientation of the new Russia to the West sharply reduced the volume of economic interaction. In the 2000s, during the recovery growth and the transition to a multi-vector foreign policy, mutual trade relations began to grow, but they were much slower in terms of trade with regional partners. In the last decade, the role of geopolitics has increased again, and, above all, the peculiarities of relations between both countries with China and the United States. Over the years of cooperation between the SRV and the Russian Federation, an extensive system of relations at the political level has been built. But this does not create a sufficient incentive for the development of economic relations. At the level of business structures directly involved in their construction, the influence of global geopolitical processes and geo-economic conditions is felt more strongly. The situation for mutual economic ties has deteriorated greatly in the face of harsh Western sanctions. The study showed that geo-economic conditions of cooperation can be improved by developing institutions that mutually promote commercial proposals to each other’s markets and create business models for their implementation
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Riznyk, Nataliia, Olena Berestetska, and Nelya Ivaskiv. "Simulation of competitiveness of a trade enterprise on the basis of econometric approach." Socio-Economic Problems and the State 25, no. 2 (2021): 533–40. http://dx.doi.org/10.33108/sepd2022.02.533.
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Competition is an important attribute of a market economy and is the basis of the whole mechanism of commodity production, market economy and creates a powerful alternative to monopolization in the economy. Competition is an important factor in stimulating economic activity, increasing diversity and improving product quality, reducing costs and stabilizing economic growth. In market conditions, an important problem is the analysis and modeling of competitiveness as the ability of economic units to function effectively in the market, this is especially true for commercial enterprises. The main purpose of this article is to determine and analyze the system of measures necessary for econometric modeling the competitiveness of a commercial enterprise on the basis of the developed algorithm. The authors solved a number of tasks, in particular, analyzed in detail each of the algorithm steps and adapted to the features and needs of the trading company. Methods of analysis and synthesis, analytical generalizations, the graphical method for the construction of the main stages of the algorithm, as well as mathematical modeling, in particular, econometric modeling are used in the research. The obtained algorithm is the basis for modeling the competitiveness of a trading company based on the econometric approach. The application of this algorithm will make it possible to obtain not only adequate econometric models, but also effective management decisions for enterprise development based on the detailed analysis and research of these models. Further research is needed to identify the impact factors that are important for the activities of a commercial enterprise and that can be quantified and used to model competitiveness.
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Bidabad, Bijan. "A Small Macro-Econometric Model." American Finance & Banking Review 4, no. 1 (June 4, 2019): 22–31. http://dx.doi.org/10.46281/amfbr.v4i1.287.
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Different sizes of macro-econometric models are used for different policy purposes. In this paper, we introduce a small macro-econometric model that includes macro-aggregates variables that can be solved dynamically and be used as a sample model to be estimated for other countries.