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Journal articles on the topic 'Policy markets'

Author: Grafiati

Published: 4 June 2021

Last updated: 10 February 2022

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1

Bórawski, Piotr, Aneta Belłdycka-Borawska, and James W. Dunn. "Price volatility of Polish agricultural commodities in the view of the Common Agricultural Policy." Agricultural Economics (Zemědělská ekonomika) 64, No. 5 (May 14, 2018): 216–26. http://dx.doi.org/10.17221/138/2016-agricecon.

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In the paper, the price volatility was examined. The authors used 650 weekly observations from 2003 to 2015. Such a long period of analysis helped to reveal periods with high volatility. The objective of the paper was to recognize price volatility of agricultural commodities in Poland. The authors chose beef, pork and wheat markets to show the differentiation of price volatility. It revealed periods of large and small volatility. The global market situation impacted Polish agricultural markets with the opening markets and a greater access to the new markets. The periods having the strongest impact on Polish agricultural markets were the integration with the EU, the global crisis in 2008, and problems in the EU zone. The prices of analysed agricultural commodities differed in various EU countries. The prices of wheat increased most in France, Hungary and Lithuania. The prices of store cattle increased most in the years 2004–2015 in Estonia, Sweden and Luxemburg. The prices of pigs increased most in Malta, Sweden and Cyprus.

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2

Kaiser, Harry M., Jill J. McCluskey, and Bradley J. Rickard. "Beverage Markets and Policy." Agricultural and Resource Economics Review 43, no. 1 (April 2014): iii—v. http://dx.doi.org/10.1017/s1068280500006869.

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3

Cullenward, D., and M. Wara. "Carbon markets: Effective policy?" Science 344, no. 6191 (June 26, 2014): 1460. http://dx.doi.org/10.1126/science.344.6191.1460-b.

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4

Hanushek, Eric A. "The Policy Research Markets." Journal of Policy Analysis and Management 9, no. 2 (1990): 146. http://dx.doi.org/10.2307/3325409.

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5

Radchenko, T. "Reallocation Effects of Antimonopoly Policy." Voprosy Ekonomiki, no. 9 (September 20, 2015): 65–88. http://dx.doi.org/10.32609/0042-8736-2015-9-65-88.

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The article argues that application of antimonopoly remedies can reallocate costs and benefits between market participants. Efforts of competition authorities to implement “price cap” indicators on concentrated markets do not always lead to reallocation of recourses to more efficient market participants and value added. A static choice of indicator can set up new adaptational risks. Also macroeconomic instability and shifts of distribution channels bring more uncertainty for business. The paper shows how much application of different price indicators for internal markets of export-oriented goods may cost to suppliers and consumers.

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6

Garcia-Herrero, Alicia, Eric Girardin, and Arnoldo Lopez-Marmolejo. "Mexico’s Monetary Policy Communication and Money Markets." International Journal of Economics and Finance 11, no. 2 (January 10, 2019): 81. http://dx.doi.org/10.5539/ijef.v11n2p81.

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Central bank communication is becoming a key aspect of monetary policy. How much financial markets listen and, possibly, understand Banco de Mexico’s communication on its monetary policy stance should be a key consideration for the central bank to further modernize its monetary policy toolkit. In this paper, we tackle this issue empirically by using our own index of the tone of communication based on Banco de Mexico’s speeches and statements and find that Mexican money markets do not only listen but they also understand the stance of monetary policy conveyed in the central bank’s words. Regarding the ability to listen we find that both the volatility and volume in the money market rates change right after communication from Banco de Mexico’s governing body. As for the markets’ understanding, we document a statistically significant rise in money market rates the more hawkish communication is. All in all, our results show strong evidence of effective oral and written communication from the Central Bank towards Mexico’s money markets.

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Supachart, Wannakomol. "The Economic Policy Uncertainty in China, the United States, and Europe: The Empirical Impact on Chinese Stock Markets." Applied Economics and Finance 6, no. 5 (August 13, 2019): 131. http://dx.doi.org/10.11114/aef.v6i5.4370.

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The objective of this paper is to analyze the impact of economic policy uncertainty (EPU) in China, the United States, and Europe, which are influent to the Chinese stock markets. We employed Vector Autoregression (VAR) model with relative variables including the EPU indices and three Chinese stock markers indices to display the impulse responses of the markets to the EPUs. Our results indicate that the Chinese stock markets negatively respond to their domestic economic policy uncertainty in the first, second, and third month after the EPU shocks. Moreover, we also found the negative responses of the Chinese markets to the EPU from the United States that require five months to rebalance the markets. However, the Chinese markets seem positively respond to the shocks of the economic policy uncertainty in Europe and also took five months to archive market rebalancing. The significant correlation of the economic policy uncertainty between China and the United States resulted in cross-sectional correlation estimates among the EPU indices. Furthermore, there is the reasonable interesting result to claim that the economic policy uncertainty in China is statistically influenced by their own trade and fiscal policy uncertainty that may be considered to be related with China-US trade war in our conclusion.

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Braun, Benjamin, Daniela Gabor, and Marina Hübner. "Governing through financial markets: Towards a critical political economy of Capital Markets Union." Competition & Change 22, no. 2 (February 23, 2018): 101–16. http://dx.doi.org/10.1177/1024529418759476.

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Capital Markets Union is a large-scale political project to strengthen and further integrate European market-based finance. An initiative of the European Commission under Jean-Claude Juncker’s leadership, Capital Markets Union seeks to realize a long-standing goal of European policy makers: a financial system in which capital markets will absorb more of citizens’ savings and play a greater role in corporate finance. Market-based banking, too, is set to benefit from Capital Markets Union, which includes measures to revive the European securitization market. Given that market-based finance – or shadow banking – shouldered much of the blame for the financial crisis of 2007–2008, its resurgence as a policy priority of the European Union constitutes a puzzle. The present article lays the theoretical groundwork for a special issue that tackles this puzzle. It argues that rather than an end in itself, Capital Markets Union represents an exercise in ‘governing through financial markets’. Pioneered in the United States, governing through financial markets is a political strategy adopted by state actors in pursuit of policy goals that exceed their institutional capacity.

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9

Grand, Julian Le. "Quasi-Markets and Social Policy." Economic Journal 101, no. 408 (September 1991): 1256. http://dx.doi.org/10.2307/2234441.

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10

Levine, Ross. "Stock Markets, Growth, and Policy." International Finance Discussion Paper 1990, no. 0374 (1990): 1–47. http://dx.doi.org/10.17016/ifdp.1990.0374.

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11

Akitoby, Bernardin, and Thomas Stratmann. "Fiscal Policy and Financial Markets." IMF Working Papers 06, no. 16 (2006): 1. http://dx.doi.org/10.5089/9781451862768.001.

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12

Shogren, Jason F. "Experimental Markets and Environmental Policy." Agricultural and Resource Economics Review 22, no. 2 (October 1993): 117–29. http://dx.doi.org/10.1017/s1068280500004706.

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Experimental markets can be a useful tool to guide and evaluate environmental policy. This paper reviews four experiments to illustrate. Two institutional experiments are considered—Coasian bargaining with positive transaction costs, and a gaming experiment of dynamic choice in a conflict. Two valuation experiments are also discussed—the impact of sequential reduction mechanisms on the value of risk, and experimental auction markets to elicit the value of safer food.

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13

Hildebrand, Philipp M. "Monetary Policy and Financial Markets." Financial Markets and Portfolio Management 20, no. 1 (March 21, 2006): 7–18. http://dx.doi.org/10.1007/s11408-006-0004-8.

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14

Audretsch, David B., William J. Baumol, and Andrew E. Burke. "Competition policy in dynamic markets." International Journal of Industrial Organization 19, no. 5 (April 2001): 613–34. http://dx.doi.org/10.1016/s0167-7187(00)00086-2.

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15

Newell, R. G., W. A. Pizer, and D. Raimi. "Carbon markets: Effective policy?--Response." Science 344, no. 6191 (June 26, 2014): 1460–61. http://dx.doi.org/10.1126/science.344.6191.1460-c.

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16

Herrmann, Heinz, and Michael Schroeder. "Monetary policy and financial markets." North American Journal of Economics and Finance 19, no. 1 (March 2008): 1–5. http://dx.doi.org/10.1016/j.najef.2007.09.002.

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17

Evans, Charles L. "Labor Markets and Monetary Policy." Business Economics 45, no. 3 (July 2010): 152–57. http://dx.doi.org/10.1057/be.2010.17.

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18

Gans, Joshua. "Using Markets in Innovation Policy." Australian Economic Review 42, no. 1 (March 2009): 88–95. http://dx.doi.org/10.1111/j.1467-8462.2009.00538.x.

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19

Agarwal, Nikhil. "Policy Analysis in Matching Markets." American Economic Review 107, no. 5 (May 1, 2017): 246–50. http://dx.doi.org/10.1257/aer.p20171112.

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Price and quantity interventions intended to affect assignments are common in many labor and education markets (e.g., financial aid, quotas). This article discusses an empirical framework, based on the theory of stable matching, that is suitable for policy analysis while accounting for the presence of equilibrium sorting. It then compares financial incentives and supply interventions for encouraging the training of family medicine residents in rural America. Due to equilibrium effects, the primary effect of financial incentives is to increase the quality, not numbers, of residents in rural programs, while quantity regulations directly affect numbers without adversely affecting quality.

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20

Lohmann, Larry, and Sarah Sexton. "Carbon Markets: The Policy Reality." Global Social Policy: An Interdisciplinary Journal of Public Policy and Social Development 10, no. 1 (March 23, 2010): 9–12. http://dx.doi.org/10.1177/14680181100100010103.

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21

Bonoli, Giuliano. "Social Policy through Labor Markets." Comparative Political Studies 36, no. 9 (November 2003): 1007–30. http://dx.doi.org/10.1177/0010414003257099.

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22

Akitoby, Bernardin, and Thomas Stratmann. "Fiscal Policy and Financial Markets*." Economic Journal 118, no. 533 (November 2008): 1971–85. http://dx.doi.org/10.1111/j.1468-0297.2008.02198.x.

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23

Kimbrough, Kent P. "Futures markets and monetary policy." Journal of Monetary Economics 15, no. 1 (January 1985): 69–79. http://dx.doi.org/10.1016/0304-3932(85)90053-4.

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24

Tchereni, Betchani, and Songezo Mpini. "Monetary policy shocks and stock market volatility in emerging markets." Risk Governance and Control: Financial Markets and Institutions 10, no. 3 (2020): 50–61. http://dx.doi.org/10.22495/rgcv10i3p4.

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This paper examines the effect of monetary policy decisions on stock markets in emerging economies particularly South Africa for the period 2000Q1 to 2016Q4. This is important as the monetary authorities would understand how their decisions may cause reactions to the stock market. Monetary policy directly shocks money supply and repo rate and indirectly GDP and inflation among many macroeconomic variables. A hypothesis that stock markets do not respond to monetary policy determinations is formulated and tested using a two-stage approach by employing first the vector error correction model to determine the long-run relationship of the variables and secondly GARCH (1, 2) model to determine the volatility. And the results suggest that about 5.2% variations in the Johannesburg Stock Exchange (JSE) volatility are due to monetary policy shocks. Overall, there is a negative relationship between M2 and stock market volatility. However, there is a positive link between repo rate and JSE volatility, which is not economically preferable because variations in repo rate influence the aggregate demand of investment on securities. The study recommends that the Monetary Policy Committee an expansionary monetary policy of keeping the repo rate lower must be pursued in order to increase borrowing that makes the public to have money to make transactions in securities on the financial market.

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25

Sraha, Gloria. "Public policy makers." African Journal of Economic and Management Studies 6, no. 1 (March 9, 2015): 55–71. http://dx.doi.org/10.1108/ajems-07-2013-0060.

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Purpose – Although there is great deal of research on export assistance programmes in developed countries, studies on developing countries in Africa has received scant attention in the literature. Lack of detailed information in many developing African countries makes it difficult to assess the effect of export promotion programmes (EPPs) on the firm’s export performance in foreign markets. The purpose of this paper is to explore entrepreneurial development in the value-added export sector of Ghana and screen EPPs provided by public policy makers to examine the impact of these programmes on export performance of Ghanaian firms in foreign markets. Design/methodology/approach – A conceptual/exploratory paper is developed with discussion. Findings – The paper suggests that the ability of exporters to enhance their performance is driven by the usage of outside market access, export development/training and information related export assistance programmes offered by public policy makers. Utilisation of EPPs builds experiential knowledge which serves as a source of competitive advantage for exporters to implement effective marketing mix strategies to enhance performance. Practical implications – The study underscores the specific EPPs export managers can utilise to enhance performance and improve their international marketing strategy in foreign markets. Public policy makers need to work together with exporters to incorporate and develop programmes to suit the idiosyncrasies of foreign markets and boost the growth of value-added exports. Originality/value – The study explores past literature to screen and evaluate the effect of EPPs and entrepreneurial development to boost export growth in Ghana – Sub-Sahara Africa.

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Alqahtani, Abdullah Saeed S., Hongbing Ouyang, and Adam Ali. "The Reaction of Stock Markets in the Gulf Cooperation Council Countries to Economic Policy Uncertainty in the United States." Economics and Business 33, no. 1 (February 1, 2019): 22–34. http://dx.doi.org/10.2478/eb-2019-0002.

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Abstract This study investigates if the changes in economic policy uncertainty in the U.S. can explain the returns on stock markets of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The study also examines how the stock market returns of the six GCC countries respond to the changes in economic policy uncertainty in the U.S. The results demonstrate that changes in economic policy uncertainty in the U.S. are not significantly linked with the returns on all the stock markets except Oman stock market, which shows a statistical significant negative relationship with the changes in economic policy uncertainty in the U.S. Controlling for the effects of the U.S. stock market and oil price, returns on all the six GCC markets including Oman show insignificant coefficients. The returns on all the stock markets do not respond to the changes in economic policy uncertainty. The results of Granger causality tests show that the changes in economic policy uncertainty in the U.S. do not cause the returns of all the six GCC stock markets.

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27

Bredgaard, Thomas, and Flemming Larsen. "Quasi-Markets in Employment Policy: Do They Deliver on Promises?" Social Policy and Society 7, no. 3 (July 2008): 341–52. http://dx.doi.org/10.1017/s1474746408004314.

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This article focuses on the contracting-out of Public Employments Services. Quasi-markets promise to deliver more efficient, effective and de-bureaucratised employment services. By comparing experiences from Holland, Australia and Denmark we investigate whether quasi-markets deliver on promises. Quasi-market models have difficulties in living up to the preconditions for a well-functioning market and political expectations. Efficiency gains and cost-savings are still largely unknown. Instead it is clear that quasi-markets create a new type of employment policy, and new conditions for governing the labour market and employment policy. Clouded in the ‘technical’ language of improved efficiency and effectiveness, such changes are often neglected and depoliticised.

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Ermilova, Mariia, Evgeny Kalinkin, Elena Semenkova, and Kira Kalinkina. "Foreign Housing Markets: Questions of Price Policy." E3S Web of Conferences 159 (2020): 05014. http://dx.doi.org/10.1051/e3sconf/202015905014.

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The housing market is one of the most important segments of the economy of any country. As part of the study, it is shown that it is not enough to consider the housing market financing system only in the organizational and structural aspect. The application of a structurally functional approach is essential, which will improve the efficiency of market financing. The author determines the need for the formation of auto-regulators that can reduce the need for manual control of the economy of the housing complex and the state, which is especially important in the modern economic system. The study identified such auto-regulators as the inclusion of borrowers in the quality management system and the usefulness of housing finance; organization of interaction of market and state financing based on the principles of public-private partnership; the need for a system of indicators to assess the development of the Russian housing market, improving the information support of financial markets; the formation of an open system for monitoring the status of the housing market financing system.

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Baker, Jonathan J., Kaj Storbacka, and Roderick J. Brodie. "Markets changing, changing markets: Institutional work as market shaping." Marketing Theory 19, no. 3 (November 5, 2018): 301–28. http://dx.doi.org/10.1177/1470593118809799.

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There is increasing interest in the marketing discipline to adopt an institutional perspective when examining markets. This requires seeing markets as complex systems that evolve through time, rather than as preexisting, stable structures. Using a historical, longitudinal case study, we integrate the “institutional work” framework as a lens to understand the process of market change in the novel, historic case of circus in North America through the 20th century. We explore the decline of the market for traditional American circus, and the emergence, in the 1970s, of the adjacent market for new circus, with a specific focus on the world’s preeminent new circus company, Cirque du Soleil. Theoretical contributions of the article include a “market-shaping activities” framework that illustrates market shaping involves considerably more actors than the dyad of producer and consumer. Market-shaping occurs through an interdependent process involving institutionalized practices, beliefs and expectations, and the intentional activities of market actors at any institutional level. Market change is shared, iterative, and recursive, that is cocreated, and undertaken by market actors both formal and informal. Market shapers do not necessarily work in an orchestrated fashion; nevertheless, vibrant networks of complementary actors contribute positively to the construction of shared identities and normative networks. From a managerial perspective, we find implications for policy makers, funders, strategists, and marketers.

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Drechsler, Itamar, Alexi Savov, and Philipp Schnabl. "The Deposits Channel of Monetary Policy*." Quarterly Journal of Economics 132, no. 4 (May 29, 2017): 1819–76. http://dx.doi.org/10.1093/qje/qjx019.

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Abstract We present a new channel for the transmission of monetary policy, the deposits channel. We show that when the Fed funds rate rises, banks widen the spreads they charge on deposits, and deposits flow out of the banking system. We present a model where this is due to market power in deposit markets. Consistent with the market power mechanism, deposit spreads increase more and deposits flow out more in concentrated markets. This is true even when we control for lending opportunities by only comparing different branches of the same bank. Since deposits are the main source of liquid assets for households, the deposits channel can explain the observed strong relationship between the liquidity premium and the Fed funds rate. Since deposits are also a uniquely stable funding source for banks, the deposits channel impacts bank lending. When the Fed funds rate rises, banks that raise deposits in concentrated markets contract their lending by more than other banks. Our estimates imply that the deposits channel can account for the entire transmission of monetary policy through bank balance sheets.

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Axilrod, S. H. "Transformation of Markets and Policy Instruments for Open Market Operations." IMF Working Papers 95, no. 146 (1995): i. http://dx.doi.org/10.5089/9781451856590.001.

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32

Fligstein, Neil. "Markets as Policy: A Political-Сultural Approach to Market Institutions." Journal of Economic Sociology 4, no. 1 (2003): 45–63. http://dx.doi.org/10.17323/1726-3247-2003-1-45-63.

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33

Alexander, Lewis, and Don Hanna. "The U.S. Financial Market Distress: Policy Lessons for Emerging Markets." Asian Economic Papers 8, no. 1 (January 2009): 46–62. http://dx.doi.org/10.1162/asep.2009.8.1.46.

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34

Shetty, Anand, and John Manley. "Foreign Capital Flows to Emerging Markets: a Test of Policy Arbitrage." Journal of International Business and Economy 5, no. 1 (December 1, 2004): 21–32. http://dx.doi.org/10.51240/jibe.2004.1.2.

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Private capital that dominated the foreign capital inflows to emerging markets in the 1990s has been linked to recent financial crises in these markets. This linkage has raised questions about the market’s ability to discipline the flow of capital to emerging markets and the role of policy arbitrage. Policy-arbitrage hypothesis states that international capital flows will arbitrage across national economic policies in search of sound markets. This paper examines the pattern of changes in the foreign capital inflows to emerging markets in the 1990s and tests the policy-arbitrage hypothesis using 22 country-data for a period immediately following the Mexican peso crisis. The test results support the policy-arbitrage hypothesis.

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Simantov, Elisabeth, Cathy Schoen, and Stephanie Bruegman. "Market Failure? Individual Insurance Markets For Older Americans." Health Affairs 20, no. 4 (July 2001): 139–49. http://dx.doi.org/10.1377/hlthaff.20.4.139.

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Rasouli, Mohammad, and Demosthenis Teneketzis. "Economizing the Uneconomic: Markets for Reliable, Sustainable, and Price Efficient Electricity." Sustainability 13, no. 8 (April 9, 2021): 4197. http://dx.doi.org/10.3390/su13084197.

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Current electricity markets do not efficiently achieve policy targets i.e., sustainability, reliability, and price efficiency. Thus, there are debates on how to achieve these targets by using either market mechanisms e.g., carbon and capacity markets, or non-market mechanisms such as offer-caps, price-caps, and market-monitoring. At the same time, major industry changes including demand response management technologies and large scale batteries bring more elasticity to demand; such changes will impact the methodology needed to achieve the above mentioned targets. This work provides market solutions that capture all three policy targets simultaneously and take into account the above-mentioned industry changes. The proposed solutions are based on: (i) a model of electricity markets that captures all the above mentioned electricity policy targets; (ii) mechanism design and the development of a framework for design of efficient auctions with constraints (individual, joint homogeneous, and joint non-homogeneous). The results show that, within the context of the proposed model, all policy targets can be achieved efficiently by separate capacity and carbon markets in addition to efficient spot markets. The results also highlight that all three policy targets can be achieved without any offer-cap, price-cap, or market monitoring. Thus, within the context of the proposed model, they provide clear answers to the above-mentioned policy debates.

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Callagher, Lisa Jane, Peter Smith, and Saskia Ruscoe. "Government roles in venture capital development: a review of current literature." Journal of Entrepreneurship and Public Policy 4, no. 3 (November 2, 2015): 367–91. http://dx.doi.org/10.1108/jepp-08-2014-0032.

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Purpose – Interest in venture capital markets continues to be of relevance to politicians and policy makers, recognizing the importance of government participation in venture capital market development. Yet advice regarding developing venture capital markets appears increasingly disparate. The paper aims to discuss these issues. Design/methodology/approach – The authors engage the assumptions that underpin three dominant policy approaches to the development of venture capital markets with regard to the role of governments in that process. The authors categorize existing empirical studies against three approaches and give examples of the different government policies associated with the various approaches. Findings – Direct and indirect approaches recognize the importance of active stock markets but largely ignore the dynamic processes of markets, asserting that the provision of capital, institutional changes, and financial incentives ex ante will cause a positive market reaction, regardless of the market’s context. The recent timed approached is purported as being more comprehensive in its awareness of the need to adapt to countries’ contexts and the need for varying policies at the different stages of market emergence. Research limitations/implications – Limited empirical research tests the voracity and limitations of the timed approach. The challenge in doing so is that evolutionary theories typically explain an event after it has occurred, thus its predictive power is often limited. Future research might investigate the efficacy of policy levers based on the timed approach. Practical implications – The authors highlight the need for the development of venture capital markets, rather than a venture capital industry. Originality/value – The authors extend the existing venture capital market development categories and evaluate each approach in terms of the efficacy of government’s roles in venture capital market development in light of the existing evidence of economic development and entrepreneurial activity.

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Smirnov, E. "MACROECONOMIC IMPACT ON LABOR MARKETS IN THE FACE OF GLOBAL RECESSION RISKS." Management of the Personnel and Intellectual Resources in Russia 9, no. 3 (July 23, 2020): 51–55. http://dx.doi.org/10.12737/2305-7807-2020-51-55.

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The relevance of the problems researched in the article is due to the determining influence of global recessions on the labor markets of foreign countries and the growing imbalances in this market. In the economic policy and practice of developing countries, in addition to the traditional issues of revitalizing the financial system and commodity markets, it’s crucial the policy of post-crisis recovery of labor markets. At the same time, we note a significant differentiation of approaches to the analysis of employment, unemployment and modeling the response of labor markets to economic downturns. In the framework of our study were proposed the effects of recessions on labor markets were analyzed, and government policy measures aimed at overcoming disruptions in the labor market during global economic recessions, counteracting polarization in the labor market and reducing the risks of increasing informal employment.

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Uppal, Jamshed Y., and I. U. Mangla. "Accessing International Capital: Pakistan’s Experience, Prospects, and Policy Implications." Pakistan Development Review 35, no. 4II (December 1, 1996): 929–41. http://dx.doi.org/10.30541/v35i4iipp.929-941.

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In the 1990s accessing international capital markets has become a major source of external financing for many developing countries. The paper reviews Pakistan’s experience in tapping the global financial markets. We conduct a cross-sectional econometric analysis of the factors influencing the access to international equity and debt capital. Results indicate that the factors as suggested in the earlier literature do appear to be influential in determining the access to international capital. The study finds that the role of credit rating in attracting debt flows and of the local capital markets in attracting equity flows is prominent. The rate of economic growth is a major determinant of the access to foreign debt and equity funds. It also appears that the country rating which is based on a comprehensive set of variables indicating the financial health of the country subsumes the other proxies of economic stability and debt management. This study underscores the importance of institutional factors. Areas where improvement is possible to facilitate access to the international capital markets are identified as (1) political and legal environment, including improvements in the quality of the system of civil laws and its enforcement (2) private sector development through sustaining economic liberalisation and privatisation programmes (3) improvement in macro-economic management through a prudent internal and external debt management (4) development of capital markets through, improvements in market operations, enforcement of market regulations, strengthening of financial institutions and effective dissemination of market information.

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40

Yu, Yanan, and Hye-Shin Kim. "Online retailers’ return policy and prefactual thinking." Journal of Fashion Marketing and Management: An International Journal 23, no. 4 (September 19, 2019): 504–18. http://dx.doi.org/10.1108/jfmm-01-2019-0010.

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Purpose The purpose of this paper is to examine how return policies from online fashion retailers from different countries (USA, China and Western European) support consumer need for uncertainty avoidance and lower negative prefactual thinking in two different markets: China and USA. Design/methodology/approach A content analysis of eight international online fashion retailers’ return policies in both the China and USA markets was conducted. Findings US, Chinese and Western European online fashion retailers have more detailed return policies in the USA market compared to the China market. The results also indicate that US, Chinese and Western European online fashion retailers are more inclined to offer lenient return policies in the USA market which helps to lower consumer perceptions of uncertainty and negative prefactual thinking. Practical implications Exploring online retailers’ return policies and how retailers respond to consumers’ level of comfort with uncertainty and tendencies to engage in negative prefactual within the context of different cultural markets offer valuable insight into standard retail practices necessary to retain profitability. Despite the perception of a “global” marketplace, nonstandardization of customer service is found. Originality/value Although the ability of online retailers to reach global markets has increased, few scholars have studied return policies within different cultural contexts. This study focuses on return policy as a major influencer of prefactual thinking by reducing anticipated regret and increasing online purchase intention in a global cultural context. The research is not only beneficial to managers who seek to increase the profitability through globally strategic implementation of return policies but also contributes to the consumer regret and risk literature.

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Fam, Papa Gueye, Rachida Hennani, and Nicolas Huchet. "U.S. Monetary Policy, Commodity Prices and the Financialization Hypothesis." Review of Economic and Business Studies 10, no. 2 (December 1, 2017): 53–77. http://dx.doi.org/10.1515/rebs-2017-0054.

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AbstractMany studies point out the growing correlations within financial markets, while others highlight the financialization of commodity markets. The purpose of this article is to revisit the relationships between various financial assets and commodity markets by taking into account the U.S. monetary policy and therefore the implementation of non-standard measures. In addition to oil, stock and bond markets, U.S. policy rates and a great deal of agricultural prices have been over time considered through a DCC-GARCH model, between 1995-2015. We find that agricultural markets uphold the financialization hypothesis, implying an increase in market-prices’ correlations and so raises the question of agricultural prices’ drivers. Interestingly, conditional correlations between the U.S. monetary policy and agricultural prices have decreased since 2010, which indicates that the implementation of non-standard monetary policy measures reduces spillover effects on asset prices, especially raw commodities. Such a result in turn highlights changing relationships between monetary, financial and physical markets, in a context of very weak policy rates over a long period.

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Jurčík, R. "The economic impact of EC procurement policy." Agricultural Economics (Zemědělská ekonomika) 53, No. 7 (January 7, 2008): 333–37. http://dx.doi.org/10.17221/1155-agricecon.

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The economic impact of the EC procurement policy is an important aspect of public procurement in the most areas of industry and agriculture. There exist some studies about the economic impact of the EC procurement policy. The first major study was the one commissioned by the European Commission and published in 1997 as a part of a broader evaluation of the European single market. This dealt with the period from 1987 when the directives were substantially revised, to 1994. In February 2004, the Commission published a new summary analysis of the economic impact of the EC rules covering the period 1995−2002. A report on the functioning of public procurement markets in the EU: benefits from the application of the EU directives and challenges for the future (EC 2004). This confirms a much greater importance of the indirect cross-border activity as compared with the direct cross-border binding activity, and also indicates that this form of trade in public markets has increased further. The above mentioned studies in relation to the Economic Impact of the EC procurement Policy are the object of this article.

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Thornton, Simeon, Chris Jenkins, and Marie-Madeleine Husunu. "Competition in digital advertising markets." Competition Law Journal 20, no. 2 (August 6, 2021): 89–101. http://dx.doi.org/10.4337/clj.2021.02.05.

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Digital advertising, both display advertising and search advertising, represents a very important part of the overall advertising market in the United Kingdom. Google and Facebook have a high degree of market power in search and display advertising, respectively. On 1 July 2020, the Competition and Markets Authority published its Final Report on its market study into online platforms and digital advertising, in which it looked in some depth at digital advertising markets, assessing whether a lack of transparency, conflicts of interest, and the leveraging of market power undermine competition in digital advertising. This article examines the issues considered by, and the findings of, the CMA in its Market Study and set out in its Final Report, and describes the policy options identified in the Market Study for promoting competition and other policy goals, such as data protection and privacy and ensuring the viability of news publishers, in digital advertising markets.

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Farooq, Omar, and Salma Dandoune. "Media Independence And Dividend Policy: Evidence From Emerging Stock Markets." Journal of Applied Business Research (JABR) 28, no. 5 (August 21, 2012): 977. http://dx.doi.org/10.19030/jabr.v28i5.7238.

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Can media pressurize managers to disgorge excess cash to shareholders? Do firms in countries with more independent media follow different dividend policies than firms with less independent media? This paper seeks to answer these questions and aims to document the relationship between media independence and dividend policies in emerging markets. Using a dataset from twenty three emerging markets, we show a significantly negative relationship between dividend policies (payout ratio and decision to pay dividend) and media independence. We argue that independent media reduces information asymmetries for stock market participants. Consequently, stock market participants in emerging markets with more independent media do not demand as high and as much dividends as their counterparts in emerging markets with less independent media. We also show that press independence is more important in defining dividend policies than TV independence. Furthermore, our results show that the relationship between media independence and dividend policies is more pronounced in firms that generate greater interest from investors.

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Mattsson, Lars-Gunnar. "Bridging gaps between policies for sustainable markets and market practices." IMP Journal 10, no. 2 (June 13, 2016): 339–56. http://dx.doi.org/10.1108/imp-01-2016-0002.

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Purpose – The problem addressed is how policies to promote sustainable development may be implemented in market practice. The purpose of this paper is to present a conceptual framework on which further research on sustainable market practice can be based. Design/methodology/approach – Literature and conceptual analysis as regards sustainable development and policies to promote sustainable markets. Frameworks from theorizing about markets and about institutions. Findings – The context of policy initiatives aiming at sustainable development is characterized by substantial heterogeneity and is inherently conflictual and multidimensional. Stakeholders, NGOs, governments as well as market actors are involved in policy processes. A market practice perspective is suggested. Specific issues for research are how policy practice interacts with market practice and how sustainable markets actually perform sustainable development over time and space. Practical implications – Implications for how policy actors and market actors might act to bridge the gap by awareness of market shaping process in market practice. Originality/value – Contribution to holistic understanding of links between policies, market practice and sustainable development.

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Lu, Changjiang, Kemin Wang, Haiwei Chen, and James Chong. "Integrating A- and B-Share Markets in China: The Effects of Regulatory Policy Changes on Market Efficiency." Review of Pacific Basin Financial Markets and Policies 10, no. 03 (September 2007): 309–28. http://dx.doi.org/10.1142/s0219091507001082.

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We investigate the effectiveness of two recent regulatory policy changes on market efficiency in the Chinese A- and B-share markets. Overall, the opening of the B-share market to domestic Chinese investors and the limited opening of the A-share market to foreign investors increase market efficiency. The opening of the B-share market significantly reduces the price differential between A- and B-shares. Furthermore, there is no longer feedback in returns between the two markets in recent years. Our results provide evidence that there is no detrimental effect to market efficiency by integrating Chinese investors to international markets and foreign investors to the Chinese stock markets.

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Costello, Gregory, Patricia Fraser, and Garry MacDonald. "Monetary policy influences in Australian housing markets." International Journal of Housing Markets and Analysis 8, no. 2 (June 1, 2015): 265–86. http://dx.doi.org/10.1108/ijhma-08-2014-0032.

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Purpose – This paper aims to analyze the impact of common monetary policy shocks on house prices at national and capital city levels of aggregation, using Australian data and the Lastrapes (2005) two-part structural vector autoregressive (SVAR) empirical method. Design/methodology/approach – The Lastrapes (2005) two-part SVAR empirical method is applied to Australian housing market and macroeconomic data to assess the impact of common monetary policy shocks on house prices. Findings – Results show that while the impact of shocks to interest rates on aggregate house prices is almost neutral, the responses of state capital city house prices to the same shock can exhibit significant asymmetries. Originality/value – This paper contributes to the monetary policy–asset price debate by examining the influence of Australian monetary policy on capital city housing markets over the period 1982-2012. To the authors’ knowledge, this is the first empirical study that has adapted this Lastrapes (2005) methodology to the analysis of housing markets.

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Bečvářová, V. "EU enlargement and the Common Agricultural Policy." Agricultural Economics (Zemědělská ekonomika) 49, No. 10 (March 2, 2012): 447–52. http://dx.doi.org/10.17221/5431-agricecon.

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The incorporation of the Central and Eastern European Countries (CEECs) to the common agrarian market of the European Union is an entrance the saturated market solving problems with surpluses of main agricultural commodities. That is why an increasing of competition among both current member states and the new members has been anticipated. The question related to productivity of factors as well as technology level influence on competitiveness on the occasion of lower prices of agricultural commodities that could bring about shift of trade between agricultural enterprises and food processors in the first stage of processing within commodity chain into some of new member countries (or changes within them) and steer flows of some of agricultural commodities utilised as raw materials. The decisive position of the second stage of agricultural products processing, characterised by highly finalised products, probably will push forward the existing member states, especially the main producers and major exporters of finalised food products in Europe. Their interest in generation and expansion of this kind of market with highly finalised food products on the CEECs food markets would be expected. Moreover, the “demand driven agriculture” implying qualitative criteria such as food safety and precaution, favourable method of production, environmental impact etc., presented by agricultural policies in last decade and for future, is largely influenced by final stages of agri-food commodity chains. Distributors and well-established processors are those who “translate” the consumer’s demand to agricultural producers. Those decide significantly about the dimension, structure and market share of agricultural production in concrete area in essence. This situation has influenced effectiveness of the Common Agricultural Policy (CAP) exactly. Based upon the last reforms of the CAP in the EU evaluation, the significant changes of commodity markets regulation tools and a new approach partly related to income stabilisation policy partly to support of technological change and restructuring in wider social and regional aspects of the CAP are demonstrated there.

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Saeed S Alqahtani, Abdullah, Hongbing Ouyang, and Shayem Saleh. "The impact of United States monetary policy uncertainty on the Gulf Cooperation Council stock markets." Investment Management and Financial Innovations 16, no. 1 (February 25, 2019): 128–43. http://dx.doi.org/10.21511/imfi.16(1).2019.10.

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Most of the GCC countries currencies are pegged to the US dollar, which make the economy those countries susceptible to the US monetary policy change. This paper used the non-structural VAR tests to examine the spillovers impact of the two recently developed US monetary policy uncertainty indices (the BBD MPU and the HRS MPU) shocks on GCC stock markets from 2003: M01 to 2017: M07. The result revealed that during the period under review, the two MPU have slight significant impact on some GCC markets. But the HRS MPU has more impact than the BBD MPU. Besides this, unidirectional causality running from HRS MPU to Bahraini and Kuwaiti Stock market was detected within the period. Hence, policymakers should realize the heterogeneity impacts from US MPU to stock markets in GCC countries. The findings also help investors and portfolio managers to better understand the effects of US monetary policy uncertainty on the stock markets.

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Poti, Jamhur, and Mahadiansar Mahadiansar. "Evaluasi Kebijakan Revitalisasi Pasar Tradisional : Studi Pasar Akau Potong Lembu Kota Tanjungpinang." Kolaborasi : Jurnal Administrasi Publik 6, no. 3 (December 29, 2020): 294–309. http://dx.doi.org/10.26618/kjap.v6i3.4165.

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Revitalizing traditional markets is a form of improving the quality of public space as a policy of the regional government in cooperation with local communities. The purpose of revitalizing traditional markets is not merely to improve the physical form of traditional markets but also to manage these traditional markets. The researcher raised a case study on the policy after revitalizing the Lembu Market, Tanjungpinang City, to what extent the policies that have been implemented before and after the market revitalization match the public's expectations, it is necessary to evaluate the programs that have been implemented. Researchers used policy evaluation techniques with a formal evaluation approach using Dunn 2018 theory. The research method used by researchers used library research, by carrying out a search of several library sources such as e-books, journals, websites, organizational reports, and other good documents. print and online relevant to the topic being evaluated. The results showed that the evaluation of the revitalization program for the beef slaughter market in the city of Tanjungpinang had not found the value of cross-impact analysis and discounting on the program so that the revitalization of traditional markets was only in the form of target mapping, value clarification and mapping of barriers that had become the impact of the revitalization policy of the traditional cattle slaughter market in Tanjungpinang City. The researcher also did not find Urgency in realizing the traditional market revitalization policy in order to change the characteristics of the market for the better.

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