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Journal articles on the topic 'Trade credit provision'
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Hill, Matt, Katerina Hill, Lorenzo Preve, and Virginia Sarria-Allende. "International evidence on the determinants of trade credit provision." Managerial Finance 45, no. 4 (April 8, 2019): 484–98. http://dx.doi.org/10.1108/mf-07-2018-0295.
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PurposeThe purpose of this paper is to examine whether the level of financial credit available in a country influences the level of trade credit provided to customers.Design/methodology/approachThe authors examine the association between the supply of trade credit and the availability of country-level private financial credit using multivariate regression models that account for country-level heterogeneity, macroeconomic conditions and firm-specific characteristics. The data set is a pooled sample of publicly traded firms incorporated in 66 countries.FindingsSupporting the re-distributional view of trade credit, robust results suggest that suppliers incorporated in countries with increased access to financial credit provide increased trade credit to their customers. Further results indicate significant differences in trade credit usage across geographical regions. Consistent with existing research using samples of US firms, the use of trade credit is correlated with firm-level measures of financial constraints and product market dynamics.Originality/valueThe authors provide one of the first studies to examine differences in trade credit extension across a large number of countries.
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El Ghoul, Sadok, and Xiaolan Zheng. "Trade credit provision and national culture." Journal of Corporate Finance 41 (December 2016): 475–501. http://dx.doi.org/10.1016/j.jcorpfin.2016.07.002.
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Abdulla, Yomna, Viet Anh Dang, and Arif Khurshed. "Suppliers' listing status and trade credit provision." Journal of Corporate Finance 60 (February 2020): 101535. http://dx.doi.org/10.1016/j.jcorpfin.2019.101535.
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Wu, Wenfeng, Michael Firth, and Oliver M. Rui. "Trust and the provision of trade credit." Journal of Banking & Finance 39 (February 2014): 146–59. http://dx.doi.org/10.1016/j.jbankfin.2013.11.019.
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Wan, Qin, Yu Huang, Cuiting Yu, and Meili Lu. "Strategic Provision of Trade Credit in a Dual-Channel Supply Chain." Mathematical Problems in Engineering 2021 (December 17, 2021): 1–14. http://dx.doi.org/10.1155/2021/9918060.
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This study focuses on a a dual-channel supply chain that consists of a capital-constrained brick-and-mortar retailer and a manufacturer, where a manufacturer can simultaneously sell products through a traditional retail channel and a direct online channel. Supplementary pricing strategy and competitive pricing strategy are simulated in our model, and we find that the former one is the better choice for the manufacturer when the retailer suffers capital constraints. In our analysis, the capital constraint on retailer could mitigate the price competition between two channels, and it may be beneficial to the manufacturer under certain conditions. Our findings show that the manufacturer should strategically provide trade credit to retailers rather than unconditionally provide it. We present two trade-credit strategies (trade credit with positive interest rate and trade credit with zero interest rate) and suggest that the manufacturer should choose an appropriate trade-credit strategy according to the initial capital of the retailer. To guide the manufacturer when and how to provide trade credit, we conduct several numerical simulations based on our results and further plot out a graph to direct the manufacturer to an appropriate strategy of trade credit.
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Fisman, Raymond, and Mayank Raturi. "Does Competition Encourage Credit Provision? Evidence from African Trade Credit Relationships." Review of Economics and Statistics 86, no. 1 (February 2004): 345–52. http://dx.doi.org/10.1162/003465304323023859.
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Cheung, Adrian (Waikong), and Wee Ching Pok. "Corporate social responsibility and provision of trade credit." Journal of Contemporary Accounting & Economics 15, no. 3 (December 2019): 100159. http://dx.doi.org/10.1016/j.jcae.2019.100159.
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Osinubi, Igbekele Sunday. "Effects of financial distress and financing constraints on trade credit provisions." Asian Review of Accounting 28, no. 4 (August 18, 2020): 545–66. http://dx.doi.org/10.1108/ara-04-2020-0058.
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PurposeExisting studies that documented the effect of financial distress on trade credit provisions did not include measures financial constraint. It is possible that financial distress is tie to financial constraints, and both financial distress and financial constraints mutually reinforce each other in their effects on trade credit provision. The purpose of this study is to evaluate the effects of financial constraint and financial distress on trade credit provisions in the UK FTSE 350 listed firms.Design/methodology/approachThis study employs panel data in the estimation of the determinants of accounts payables and accounts receivables of the UK FTSE 350 firms from 2009 to 2017.FindingsThis study finds that financial distress has significant positive effect on accounts payables and a significant negative effect on accounts receivables. Financial constraints have significant negative effect on accounts payables and a significant positive effect on accounts receivables.Practical implicationsTrade creditor desiring to maintain an enduring product-market relationship grant more concessions to customer in financial distress. The amount of trade credit that sellers provide to financially constrained firm is an increasing function of the buyer's creditworthiness. The urgent cash needs of financially distressed firms lead them to sell trade receivables to factoring company leading to reduction in trade receivables. Firm facing external financing constraints increase trade credit to customers in anticipation of cash flow inflow to enhance liquidity.Originality/valueThis study shows that financial distress and financial constraints mutually reinforce each other in their effects on trade credit provisions, and firm's financing condition contributes to divergence in trade credit policies.
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Norden, Lars, Gregory F. Udell, and Teng Wang. "Do bank bailouts affect the provision of trade credit?" Journal of Corporate Finance 60 (February 2020): 101522. http://dx.doi.org/10.1016/j.jcorpfin.2019.101522.
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Ивченко, Юлия, and Yuliya Ivchenko. "Company credit policy as a factor in its effective and long-term development." Russian Journal of Management 2, no. 3 (July 1, 2014): 123–36. http://dx.doi.org/10.12737/10590.
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The scientific and practical publications and regulatory sources for essence credit policy of the firm are analyzed. Based on the analysis it was concluded that there is no unified approach to the content of the term «company credit policy». The credit policy of the firm as a set of principles and methods for management of accounts receivable and the provision of trade credit to buyers; management of payables and bank credits as the main sources of borrowed working capital; management of free cash in the form of giving commercial loans to other companies and opening bank deposits examined.
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Siekelova, Anna, and Erika Spuchlakova. "The Assessment of Client Creditworthiness Using Predictive Methods Based on Multivariate Discriminant Analysis." Accounting and Finance Review (AFR) Vol.2(1) Jan-Mar 2017 2, no. 1 (March 14, 2017): 17–21. http://dx.doi.org/10.35609/afr.2017.2.1(3).
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Objective - Trade credit is the most important source of external finance for many companies. It appears on every balance sheet and represents more than 50 percent of company's short-term liabilities and a third of all company's total liabilities in OECD countries. Late payment of invoices may suffer firm's solvency. The European economies are now putting the years of financial turmoil and debt crisis behind them and several macro-economic indicators are pointing towards a brighter future. The aim of this paper is to assess creditworthiness of companies. Methodology/Technique - Assessment of client creditworthiness carried out using predictive methods based on multivariate discriminant analysis Findings - The situation in the enterprise can be characterized as stable. An enterprise that chooses this client to provide it a trade credit should also consider supplementing the predictive models by complex financial and economic analysis and review of available. If the firm provides trade credit to more clients, it is necessary to consider that the terms of trade credits may not be the same for everyone but also it is not in the power of company to approach to each client individually. Novelty - The study suggests that client groups can be created by using cluster analysis. Thus, the company may increase efficiency in the provision of trade credit. Type of Paper Review Keywords: Trade Credit; Trade Credit Receivables; Late Payment; Predictive Model; Z Score; IN 01; Taffler Model; G Index; SAF 2002. JEL Classification: E51, G21, G33.
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Lehar, Alfred, Victor Y. Song, and Lasheng Yuan. "Industry Structure and the Strategic Provision of Trade Credit by Upstream Firms." Review of Financial Studies 33, no. 10 (January 30, 2020): 4916–72. http://dx.doi.org/10.1093/rfs/hhaa002.
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Abstract Trade credit can serve as a collusion mechanism for competing supply chains to increase producer surplus in medium concentrated industries. We analyze theoretically how this form of financing influences retailers’ behavior in the product market, study incentives to deviate, and show evidence consistent with the model’s predictions. Trade credit use is inversely U shaped in industry concentration, and this pattern is more pronounced in industries more prone to collusion and when incentives to deviate are smaller.
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Tsuruta, Daisuke. "Customer relationships and the provision of trade credit during a recession." Applied Financial Economics 23, no. 12 (June 2013): 1017–31. http://dx.doi.org/10.1080/09603107.2013.791016.
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Moravcsik, Andrew M. "Disciplining trade finance: the OECD Export Credit Arrangement." International Organization 43, no. 1 (1989): 173–205. http://dx.doi.org/10.1017/s0020818300004598.
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The salience of tariffs, quotas, and other import restrictions in current discussions of trade policy obscures what may well become a more significant form of government intervention: subsidized export promotion. Over the past two decades, subsidized trade finance has been one of the most widely used instruments of export promotion. This article offers an historical description and a theoretical explanation for the success of the Organization for Economic Cooperation and Development (OECD) Export Credit Arrangement, an international regime restricting the provision of subsidized trade finance. The explanation emphasizes three factors: the structure of government institutions, the relative power of states, and the functional value of information. More generally, the analysis demonstrates the inherent weaknesses of monocausal explanations of international cooperation and the advantages of explanations based on a conception of international cooperation as a multistage, process, each stage of which may be explained by a separate theory.
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Liu, Peng, and Daxin Dong. "Impact of Economic Policy Uncertainty on Trade Credit Provision: The Role of Social Trust." Sustainability 12, no. 4 (February 20, 2020): 1601. http://dx.doi.org/10.3390/su12041601.
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This paper explores the impact of economic policy uncertainty (EPU) on trade credit while taking into account the interactive role of social trust. The analysis is based on the panel data econometric model with fixed effects. Using firm-level data across 16 economies from 1995Q1 to 2015Q1, we find that (i) there exists a negative and highly significant relationship between economic policy uncertainty and the provision of trade credit; (ii) this relation is weaker for firms in countries with higher levels of social trust; and (iii) the effects of EPU and social trust are both more substantial for firms in more financially constrained industries. The impact of social trust is not a result of people’s high confidence in government, an effective legal system of enforcing contracts, a high-quality institutional system or an excellent system of protecting shareholders. Our result is robust if we exclude business cycle effects or use an alternative measure of financial constraints.
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Alfiandita Rizka Meivita and Yusriyati Nur Farida. "THE INFLUENCE OF GUARANTEE VALUE, BUSINESS TURNOVER, BUSINESS AGE AND PROVISION OF ACCOUNTING INFORMATION ON FORMAL CREDIT ACCESS TO SMEs IN BANYUMAS DISTRICT." International Journal of Social Science 1, no. 2 (August 3, 2021): 55–68. http://dx.doi.org/10.53625/ijss.v1i2.137.
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One of the main problems faced by Small and Medium Enterprises (SMEs) is capital. The limited capital owned by SMEs encouraged them to obtain loans by accessing credit from financial institutions. However, not all SMEs can access credit from financial institutions because before giving credit the creditor needs to gain confidence that the prospective debtor is able to repay his credit based on 5C credit principles (character, capacity, capital, condition of economy, collateral). This study aims to determine the effect of collateral value, business turnover, business age and provision of accounting information on accessibility of formal credit. The type of research used is survey research. The population in this study are all SMEs engaged in the trade sector in Banyumas Regency. The sampling technique used is proportionate stratified sampling with a sample of 100 respondents. Data collection techniques in this study used survey techniques by distributing questionnaires to respondents. The data analysis technique in this study used multiple regression analysis assisted by SPSS software. The results of this study indicate that: (1) collateral value has a significant positive effect on access to formal credit, (2) business turnover has a significant positive effect on access to formal credit, (3) business age has no significant influence on access to formal credit, (4) information provision accounting has a significant positive effect on access to formal credit. Adjusted R Square testing results show that the effect of collateral value, business turnover, business age, and provision of accounting information on access to formal credit is 54.7% while 45.3% can be explained by other variables not examined. The implication of this research is to be able to increase access to formal credit, SMEs need to (1) own assets that can be used as collateral where the value must be greater than the amount of credit proposed, (2) improve their ability to manage businesses to obtain optimal business turnover, (3) strive to improve the provision of accounting information appropriately so that it can facilitate financial institutions to assess actual business conditions
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Madhuku, Lovemore. "Protection of the surety under Zimbabwean law." Journal of African Law 41, no. 1 (1997): 68–80. http://dx.doi.org/10.1017/s0021855300009980.
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The availability of credit facilities to both companies and individuals wishing to do business is probably one of the most important facets of the modern world. It is needless to emphasize that the need to create an enabling environment conducive to investment and hence employment creation remains an important goal of the modern state. Credit is at the centre of this mission and as the U.K. Review Committee on Insolvency Law and Practice aptly observed, “credit is the lifeblood of the modern industrialised economy” and “… the provision of credit for trade and industry stimulates production and encourages enterprise as well as helping individuals and businesses over difficult economic times”.
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Yamada, Kazuo, and Yuji Honjo. "Petty cash from parents: Provision of liquidity to spin-offs by trade credit channel." Journal of Small Business Management 58, no. 5 (January 6, 2020): 923–47. http://dx.doi.org/10.1111/jsbm.12538.
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Arseneau, David M., David E. Rappoport W., and Alexandros P. Vardoulakis. "Private and public liquidity provision in over‐the‐counter markets." Theoretical Economics 15, no. 4 (2020): 1669–712. http://dx.doi.org/10.3982/te3419.
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We show that trade frictions in over‐the‐counter (OTC) markets result in inefficient private liquidity provision. We develop a dynamic model of market‐based financial intermediation with a two‐way interaction between primary credit markets and secondary OTC markets. Private allocations are generically inefficient due to a congestion externality operating through market liquidity in the OTC market. This inefficiency can lead to liquidity that is suboptimally low or high compared to the second best, providing a rationale for the regulation and public provision of liquidity. Moreover, our model characterizes a transmission channel of quantitative easing or tightening that operates through liquidity premia.
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Shah, Faiza, Yumin Liu, Aamir Anwar, Yasir Shah, Roobaea Alroobaea, Saddam Hussain, and Syed Sajid Ullah. "Machine Learning: The Backbone of Intelligent Trade Credit-Based Systems." Security and Communication Networks 2022 (March 8, 2022): 1–10. http://dx.doi.org/10.1155/2022/7149902.
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Technology has turned into a significant differentiator in the money and traditional recordkeeping systems for the financial industry. To depict two customers as potential investors, it is mandatory to give the complex innovation that they anticipate and urge to purchase. In any case, it is difficult to keep on top of and be a specialist in each of the new advancements that are accessible. By reappropriating IT administrations, monetary administrations firms can acquire prompt admittance to the most recent ability and direction. Financial systems, along with machine learning (ML) algorithms, are vital for critical concerns like secure financial transactions and automated trading. These are the key to the provision of financial decisions for investors and stakeholders for the firms which are working with the trade credit (TC) approach, in Small and Medium Industries (SMEs). Huge and very sensitive data is processed in a limited time. The trade credit is a reason for more financial gains. The impact of TC with predictive machine learning algorithms is the reason why intelligent and safe revenue generation is the main target of the proposed study. That is, the combination of financial data and technology (FinTech) domains is a potential reason for sales growth and ultimately more profit.
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Pattnaik, Debidutta, Satish Kumar, and Ashutosh Vashishtha. "Research on trade credit – a systematic review and bibliometric analysis." Qualitative Research in Financial Markets 12, no. 4 (June 13, 2020): 367–90. http://dx.doi.org/10.1108/qrfm-09-2019-0103.
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Purpose Trade credit (TC) is a financing provision by non-financing firms. The multi-disciplinary research field has sustained scholarly attention for long. Pursuant to the gap for a comprehensive summary of the literature confined to the areas of Finance and Economics, this study aims to provide quantitative and qualitative insights not fully captured or analysed in previous reviews. Design/methodology/approach Contextualized systematic literature review (SLR) and bibliometric techniques are used to map the thematic, intellectual and conceptual structures latent in 138 articles published in top journals. Findings The top authors, top journals and major themes are recognized using bibliometric techniques followed by an in-depth bibliographic-network-based-content-analysis. Five major clusters indicating the five research dimensions within the specialized field are identified and extensively reviewed. Empirical validation of key theories is discussed in the contents and a conceptual model is developed. Finally, the study has identified key research gaps to set the direction for future research. Research limitations/implications The scope of the literature selection is confined to the areas of finance and economics. Future studies could elaborate on a broader perspective. Originality/value The study contributes by offering a conceptual model latent in the literature on TC. It derives major research gaps to set the direction of future research. Also, the combination of SLR and bibliometrics is a methodological contribution in this research domain.
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Cestau, Dario, Burton Hollifield, Dan Li, and Norman Schürhoff. "Municipal Bond Markets." Annual Review of Financial Economics 11, no. 1 (December 26, 2019): 65–84. http://dx.doi.org/10.1146/annurev-financial-110118-123034.
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The effective functioning of the municipal bond market is crucial for the provision of public services, as it is the largest capital market for state and municipal issuers. Prior research has documented tax, credit, liquidity, and segmentation effects in municipal bonds. Recent regulatory initiatives to improve transparency have made granular trade data available to researchers, rendering the municipal bond market a natural laboratory for the study of financial intermediation, asset pricing in decentralized markets, and local public finance. Trade-by-trade studies have found large trading costs, contemporaneous price dispersion, and other deviations from the law of one price. More research is required to understand optimal market design and the impact of post-crisis regulation, sustainability, and financial technology.
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Mushtaq, Afia, Noman Arshed, and Muhammad Shahid Hassan. "Sources of Banking Sector Development: Case of Pakistan." Journal of Finance and Accounting Research 1, no. 2 (August 31, 2019): 72–93. http://dx.doi.org/10.32350/jfar/0102/04.
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Banking sector development is one of the key elements benchmarking economic growth. Several empirical studies for several instances have indicated a positive relationship between banking sector development and economic growth. This study intends to examine the sources of banking sector development of Pakistan, using capital formation, interest rate, trade deficit, general price level and remittances as the proposed indicators. There is a lack of studies which investigated the impact of investment and trade deficit on banking sector development. The empirical data for the study is taken from world development indicators for 38 years. For the reliable estimates, ARDL cointegration technique has been used to estimate the long run determinants of banking sector development. Domestic credit to private sector has been used as a proxy for the banking sector development because of its market orientation. The results show that increase in the investment, imports and general price level leads to increase in the provision of domestic credit which leads to banking sector development.
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Panova, E. A. "The Role of Trade Credit in Activities of Small and Medium-Sized Enterprises." Financial Journal 12, no. 6 (2020): 126–35. http://dx.doi.org/10.31107/2075-1990-2020-6-126-135.
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Trade credit has a special meaning for small and medium-sized enterprises (SMEs). When they act as a supplier, it allows them to increase sales and cash flows, and helps establish and maintain permanent relationships with clients. Deferred payment provision is a tool for non-price competition, giving a client time to make sure of product quality. Trade credit as a financial source is an important alternative to bank lending. The article is devoted to studying the determinants of accounts payable in Russian industrial SMEs.It is based on the financial indicators calculated using the SMEs’ accounting statements for the period 2010–2018, published by Rosstat. The statistical data analysis has led to the conclusion that accounts payable are the main borrowed financial source for Russian industrial SMEs. The results of the regression analysis demonstrate a direct dependence of the accounts payable amount on sales growth and a reverse dependence of the former on the liquidity both in small and medium enterprises. Small businesses are also characterized by a negative relationship between return on sales and the accounts payable amount.
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Hopewell, Kristen. "How Rising Powers Create Governance Gaps: The Case of Export Credit and the Environment." Global Environmental Politics 19, no. 1 (February 2019): 34–52. http://dx.doi.org/10.1162/glep_a_00490.
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This article analyzes how rising powers are affecting an important area of global governance at the intersection of trade and environment: export credit. State-backed export credit agencies (ECAs) play a major role in financing large infrastructure and energy projects, particularly in developing countries. Many of these projects carry significant environmental implications, yet there has been little scholarly attention to their governance. Since the 1990s, global governance of the environmental practices of ECAs has been progressively expanded and strengthened via the OECD Arrangement on export credit and Common Approaches for environmental and social due diligence. Recently, however, there has been a dramatic increase in export credit provision by rising powers, such as India and China, who are not members of the OECD nor subject to the Arrangement or Common Approaches. In this article, I argue that existing governance mechanisms have not caught up with the rapidly changing landscape of export credit. Drawing on the case of India’s financing for the Rampal coal-fired power plant in Bangladesh, I show that the problem of environmental governance for export credit increasingly extends beyond the advanced-industrialized states of the OECD. The failure to cover the large and growing volume of export credit provided by the emerging powers represents a major gap in the established system of environmental governance for export credit.
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Llorca-Jaña, Manuel. "CONNECTIONS AND NETWORKS IN SPAIN OF A LONDON MERCHANT-BANKER, 1800-1850." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 31, no. 3 (June 14, 2013): 423–58. http://dx.doi.org/10.1017/s0212610913000098.
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ABSTRACTThis paper deals with Anglo-Spanish trade and finances for the period c. 1810-1850. It concentrates on the business activities of a London merchant bank (Huth & Co. or Huth) with Spain during this period by paying special attention to the support given by Huth to the many bilateral trades between Spain and Britain in which the company participated. It also focuses on the support given by Huth to much trade in and out of Spanish ports but which did not go through British ports. This overall support included the provision of credit facilities, exchange rate brokerage, insurance services and commercial intelligence. In addition, the article covers the links between Huth and the Spanish crown, thanks to which the bank became an important conduit of Spanish investments in American securities before 1850. Huth was also the paymaster abroad for the Spanish state. In view of Huth's close connections to the Spanish economy during this period, it is perhaps surprising that this is the first study of this «Spanish» house in London.
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Brits, Reghard. "Arbitrary Deprivation of an Unregistered Credit Provider's Right to Claim Restitution of Performance Rendered: Opperman v Boonzaaier (24887/2010) 2012 ZAWCHC 27 (17 April 2012) and National Credit Regulator v Opperman 2013 2 SA 1 (CC)." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 16, no. 4 (May 17, 2017): 421. http://dx.doi.org/10.17159/1727-3781/2013/v16i4a2422.
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The Constitutional Court in National Credit Regulator v Opperman confirmed the Cape High Court's decision in Opperman v Boonzaaier to declare section 89(5)(c) of the National Credit Act unconstitutional. Therefore, the forfeiture to the state of an unregistered creditor provider's right to claim restitution of monies advanced in terms of an unlawful (and void) credit agreement, was held to amount to an arbitrary deprivation of property in contravention of section 25(1) of the Constitution – the property clause. The provision in effect prohibited courts from deviating from the common law's strict par delictum rule in as far as the effects of unlawful contracts are concerned, the result being that creditors could not retrieve any of the amounts extended to the debtor, despite there being no turpitude or bad faith present. The purpose of this provision was to discourage the concluding of unlawful credit agreements – for instance, agreements concluded by unregistered credit providers – so as to protect consumers against unscrupulous behaviour. Although the broad purposes of the Act are undeniably valid, the Court held that there was no "sufficient reason" for the effects that the Act had in this case, since the credit provider in question was not guilty of the behaviour that the Act tried to combat. In other words, the effects of the Act were over-broad and not proportionate to its stated purposes. This case note comprehensively analyses these decisions in view of interpreting the "confused and confusing" wording of section 89(5)(c), with a specific focus on the application of the section 25(1) non-arbitrariness test. Reference is also made to the earlier judgments in the matter of Cherangani Trade and Investment 107 (Edms) Bpk v Mason. The Opperman decisions illustrate well how the non-arbitrariness test should be conducted in consitutional property cases generally but particularly also in the credit context. Of significance is the fact that the Court for the first time recognised that personal rights sounding in money (an enrichment claim in this instance) should qualify as "property" for constitutional property law purposes. In certain circumstances, therefore, credit regulation may involve deprivation of property such as must satisfy the requirements of the property clause. It is contended that recognising the role of section 25 in the credit context is a positive development that can be explored further. The constitutional provision also calls for lawmakers to draft legislation in such a way that regulatory mechanisms are rational and sufficiently proportionate to its stated goals.
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KVASNYTSIA, Oksana. "FINANCIAL PROVISION OFHOUSEHOLD FOOD SECURITY." WORLD OF FINANCE, no. 4(53) (2017): 35–45. http://dx.doi.org/10.35774/sf2017.04.035.
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Introduction. The issue of providing humanity with food rightly holds one of the leading places in the hierarchy of global problems. Food safety of a country is an indispensable condition and guarantees its sovereignty and independence, ensuring its sustainable social and economic development, population’s high level and quality oflife and reproduction ofhuman capital. The purpose of the article is to assess the state of food security of Ukraine, the definition of the role of households in ensuring food security and the justification of directions for improving financial leverage in the context of the implementation of Ukraine’s agricultural and food potential. Main results of the study. For Ukraine, the problem of ensuring food security is of particular importance, which is conditioned by the current state of development of the domestic agricultural and industrial complex, the increase of production in which is carried out mainly by an extensive way. The most important conditions for achieving food security are: the potential physical availability of food for every person; economic opportunity of purchasing food by all social groups of the population, including disadvantaged ones, which is achieved by raising the standard of living or implementing the necessary measures of social security; consumption of high quality products in quantities sufficient forrational nutrition. In order to increase the food security financial support, it is necessary to improve the financial component of the comprehensive food security mechanism, which aims at ensuring the application of economic instruments and creating conditions for attracting monetary resources for the functioning ofthe food security system through the creation of amulti-channel financing system. Conclusions. Therefore, the main directions of improving the financial system for the purpose of ensuring food security ofthe country are: availability of financial and credit support to agricultural producers; introduction of innovations in agricultural production; regulation of conditions for foreign and domestic food trade through a system of tariff and non-tariff instruments; systemic measures to strengthen and extend the life expectancyofthe population, wages and salaryincrease.
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Velikorossov, Vladimir V., and Yan Kylie. "FORMATION AND DEVELOPMENT OF FOREIGN ECONOMIC COMMERCIAL RELATIONS IN THE CONDITIONS OF CRISIS AND SANCTIONS." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 4/3, no. 124 (2022): 151–76. http://dx.doi.org/10.36871/ek.up.p.r.2022.04.03.012.
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The article is aimed at analyzing the formation and development of foreign economic commercial relations at the sectoral and regional levels. The article analyzes the foreign economic innovation process, commercial relations, activities. The purpose of the study is to offer recommendations on state regulation in crises to protect domestic producers. The article uses methods of induction and deduction, analysis and synthesis, abstraction and concretization, analogies, observation, expert, logical, monographic, economic- statistical, computational-constructive and sociological methods. It was concluded that the main forms of foreign economic commercial relations are trade relations, joint entrepreneurship, business for the provision of services, scientific, technical, information, financial and economic cooperation, currency-financial, credit relations.
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AIGHEYISI, O. S., and A. H. ISIKHUEMEN. "TRADE AND FINANCIAL OPENNESS, AND OUTPUT GROWTH VOLATILITY: EVIDENCE FROM NIGERIA." Journal of Humanities, Social Science and Creative Arts 13, no. 1 (November 8, 2019): 14–30. http://dx.doi.org/10.51406/jhssca.v13i1.1926.
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This study investigates the effect of trade openness and financial openness on output growth volatility in Nigeria using annual time series data that span the period from 1970 to 2015. Output growth volatility is generated using an EGARCH (1,1) process, and this was regressed on indices or measures of trade openness, financial openness (using the Chinn-Ito index), oil price, financial development and exchange rate. The autoregressive distributed lag (ARDL) approach to cointegration and error correction modeling was employed for the analysis. The empirical evidence indicates that trade openness and financial openness exacerbate output growth volatility in Nigeria in the long run. Favourable crude oil price is found to play significant role in stabilizing output growth in the long run. However, the short run effect of trade openness on growth volatility is negative, implying that in the short run trade openness plays some role in reducing output growth volatility. The short run effect of financial openness on output growth volatility is also negative, but not statistically significant. Further evidence from the study is that financial development and currency depreciation also reduce growth volatility in the short run. Based on the empirical evidence, the paper recommends, as measures to reduce output growth volatility (or stabilize output growth) in Nigeria, cautious liberalization of the nation’s economy, efforts by the government to develop the nation’s financial system to expand its credit extension/provision capacity, and prevention (by the monetary authority) using appropriate policy actions, of undue appreciation of the domestic currency (the naira).
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Azeem, Muhammad Mehtab, Akin Marsap, and Cigdem Ozari. "Impact of Basel Accord on Banking System (Evidence from Islamic Banks of Pakistan)." Applied Finance and Accounting 1, no. 2 (March 17, 2015): 1. http://dx.doi.org/10.11114/afa.v1i2.724.
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Banks and bank regulatory authorities are vital players for the stability of economy and financial system in potential way. Basel III and its related to capital’s requirement obligations have been effective useful tool for the banking system. Since, this is tough job for the bankers to maintain the liquidity for hedging the future risk but it also been expensive for bankers to keep the extra capital and become more liquid since this discourage the provision of loans but promote the credit ratings. However, it has become necessary to investigate the impact of Basel III on Islamic banking system and analyze the trade off. The study analyzes empirically on the (Financial) anomalies in term of three factors (i) Financial size (ii) Spread and (iii) Provisions for non performing financing. The study also discusses the impact of Basel III on Islamic banking performance if applicable, in context of trade off and impact on country’s economy. We can ask that Basel III framework is difficult to be consistent for conventional banks; we can also realize that either new regulation will be flexible for Islamic banks under Basel III while Islamic and Conventional banks are totally different. Further, we shall estimate if the Basel III is more or less important in Islamic banks of Pakistan than conventional banks. At the end, we shall see from theoretical framework either the impact of Basel III is important for Islamic banks if and only if Islamic banks adopt to follow Basel III regulations and analyzing the potential influence on conventional banks.
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Muhhammad Shafiu, Awwal, Halimah Abdul Manaf, and Sakinah Muslim. "Utilization Entrepreneurship for Job Creation, Poverty Reduction and National Development." Journal of Social Sciences Research, no. 61 (January 29, 2020): 97–102. http://dx.doi.org/10.32861/jssr.61.97.102.
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Entrepreneurship has become a tool for uplifting nations and improving their socio-economic development for the benefit of all citizens. This has worked for Western capitalist economies and the newly industrialized countries (NICs). In Africa there is less reliance on entrepreneurship as an engine of economic growth and development which has led to unemployment pervasive poverty and underdevelopment. The paper examined how entrepreneurship can help to speed up socio-economic development in Nigeria and reduce reliance on unsuccessful Western backed neo-liberal development strategies. The data of the study were sourced from array of both published and unpublished materials such as textbook, journal papers, newspapers, magazines, conference papers and seminar papers and internet material. The paper argues that Nigeria cannot develop without utilizing entrepreneurship as the cornerstone of its development strategy. Furthermore, the paper sees entrepreneurship as crucial to developing indigenous capacity in technology, manufacturing and export trade. It recommends development and implementation of local solutions to developmental problems, effective implementation of development policies, and credit provision to local entrepreneurs and creation an enabling environment for production and trade, and capacity development of Nigerian youth through technical and vocational training.
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Boldyrev, Vitalii E. "US security provision under Joe Biden: A preliminary reconstruction of national strategy." Vestnik of Saint Petersburg University. International relations 14, no. 3 (2021): 348–73. http://dx.doi.org/10.21638/spbu06.2021.306.
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The article proposes a new understanding of the phenomenon of security as the desire of the state to achieve the most favourable trajectory of development under existing constraints. The concept of a favourable trajectory depends on objective factors and its subjective interpretations that are fixed in strategies and programs. In order to make these interpretations systematic and form a holistic model consisting of them, a new algorithm for strategical and program documents has been developed. According to the algorithm, every priority should be marked by code (or its combination) which corresponds to one of the subsystems of the global system and its component to create a database. The analysis of the database makes it possible to isolate problems whose relevance was artificially overestimated prior to elections, to forecast the directions of sequestration of their priorities, to determine the degree of continuity, to rank areas of the policy, to identify probable interconnections among them and to predict the foundations of a promising strategy. In regard to Biden’s program, the algorithm made it possible to achieve the following results. It was revealed that the program is more a succession to Trump’s strategy than innovative. The priority of the economic, social and financial spheres was artificially overestimated and the degree of their importance will be reduced after Biden’s inauguration. Economic, energy and legal spheres will be the cornerstones of Biden’s future strategy. Cyber, raw materials and technological subsystems will be assigned the role of drivers of development. Their successful functioning will be dependent on the dynamics of the military and agricultural sectors. In turn, demographic, trade, financial and credit, civil, humanitarian and cultural subsystems will acquire a more subordinate position and their role will be determined by the solution of specific issues. At the same time, it is difficult to determine the concrete positions and roles of future social and ecological policies because they had been overdeveloped or unclearly prioritized in the electoral program.
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ANUFRIIEVA, Kateryna. "INSTITUTIONAL AND FINANCIAL COMPONENTS OF UKRAINE’S EXPORT GROWTH." Economy of Ukraine 2018, no. 8 (August 14, 2018): 30–49. http://dx.doi.org/10.15407/economyukr.2018.08.030.
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Today, the state policy on export development is being improved and the export support tools are being implemented at the legislative level. Exporting economic entities form the demand for financial services, which would meet current conditions in the international market, as well as allow for unrestricted settlements with foreign counterparties, available financing of working capital and insurance provision of export operations in order to increase the competitiveness of such entities. The author substantiates importance of the centralized focus of export support efforts, determines the concept of “trade financing and insurance” as a source of resource and institutional support for export operations and highlights the positive aspects and problems arising from financing of export transactions and settlements with counterparties. The state of international cooperation on export issues and trends of the world trade are briefly mentioned. As is known, the Export and Credit agency (ECA), an institution for insurance and export support, has recently been established; however, its place, management, tasks and resource base are still being determined. Therefore, the article proposes a basic schematic model of the activities of this institution. The author emphasizes that increasing the competitiveness of Ukrainian exporters and strengthening their confidence in them in the international market are especially important given the world trend of “de-risking”. De-risking is the limitation of cooperation with certain categories of clients or states (which Ukraine is sometimes included in) to avoid the risk of financing illicit activities, a person under sanctions, terrorism, and the like. The focus of further research the author suggests addressing such issues: (i) interaction of the state and private sectors with support of exports; (ii) determination of the product range of financial institutions servicing the subjects of foreign trade, as well as the ECA; (iii) impact of sanctions and restrictions on Ukraine’s foreign trade relations. Accelerating the development of exports and overcoming obstacles when concluding the external trade agreements and settlements will ultimately help Ukraine to take a niche among the world’s exporters and strengthen its own financial security.
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Piskun, Elena, Vladimir Khokhlov, and Sergey Tarasenko. "Trends and Specific Features of Entrepreneurial Structures Crediting: Regional Aspect." Regionalnaya ekonomika. Yug Rossii, no. 1 (April 2021): 141–51. http://dx.doi.org/10.15688/re.volsu.2021.1.12.
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Crediting of entrepreneurial structures is an important element in the development of regional economy. In order to identify trends and features of crediting, an analysis of using credit resources by legal entities and individual entrepreneurs by the type of economic activity in a particular region was carried out on the basis of economic and mathematical methods. The approach offered by the authors with the use of exploratory factor analysis made it possible to identify the preferred sectors of the national economy of the city of Sevastopol from the point of view of the client base for crediting: real estate transactions and construction, industrial production and trade. The first two groups of entrepreneurial structures are the most profitable in the region; their services and products are in high demand. In general, in Russia, the largest amount of credits is given to commercial enterprises, manufacturing industries, and other types of economic activity, the smallest sums go to construction companies, what emphasizes the peculiarities of the provision of credits to economic agents in the city of Sevastopol. There is a general downward trend in entrepreneurial crediting. The developed economic and mathematical tools are offered to local governments as a basic toolkit for the analysis and identification of features, trends in crediting to entrepreneurial structures in the region, identification of the most active economic entities in a certain territory. The corresponding calculation basis for local authorities can also serve as a way to recognize the problems of financing the priority sectors of the national economy of the region, therefore, to be a trigger for their support not only by providing state guarantees to banks, but also by forming a public-private partnership. This will increase the justification of managerial decision-making at the regional level and contribute to the social and economic development of the region.
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Stebljuk, Svitlana. "FEATURES OF FORMATION OF PROFESSIONAL COMPETENCE OF FUTURE SPECIALISTS ON ENTREPRENEURSHIP, TRADE AND EXCHANGE ACTIVITIES." Pedagogical Process: Theory and Practice, no. 1-2 (2019): 45–51. http://dx.doi.org/10.28925/2078-1687.2019.1-2.4551.
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The article deals with the specifics of the training of future specialists in entrepreneurship, trade and exchange activities in multy-degree system of education. The research on the identified problem is found out in the areas of: professional pedagogy, competency approach in the educational process; professional competence of future specialists of economic direction, including entrepreneurship; multy-degree system of education. The purpose of the article is to reveal the peculiarities of the training of future specialists in entrepreneurship, trade and exchange activities based on the volumes of educational programs under conditions of multy-degree system of education. Objective: to find out the requirements of the Standard of Higher Education in specialty 076; to disclose the content of educational programs at the educational qualification level «junior specialist», educational degrees «bachelor», «master»; to submit proposals for the improvement of educational programs according to the specialty. The theoretical and practical training in the college is analyzed, in accordance with the Standard of higher education of Ukraine, the competence, which should be possessed by experts: integral, general, special. The author analyzes the content of educational programs, the share of disciplines of professional training, practical training at college and university. It is determined that the specialty of specialist training under the «Master» program is that it provides for the provision of fundamental scientific and methodological and applied knowledge of economic processes and regularities of the functioning and development of a trading company, organization of trade and exchange activities; realization of commoditymarketing and commercial tasks concerning the assortment and quality of goods; making operative decisions within the limits of its competence concerning preservation of the quality of goods in the process of commodity turnover; evaluation of the quality of the main groups of goods in market conditions, taking into account the current legislative framework. Proposals for improvement of educational programs according to the specialty are submitted. In particular, an increase in the number of credits for practical training on the educational level of «bachelor», as in accordance with the Law of Ukraine «On Higher Education» it is a completed course in the training of a future specialist; the introduction into the educational program of the Master’s degree in credit for psychological and pedagogical training, respectively, the availability of pedagogical practice that will provide pedagogical activities in educational institutions.
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Satria Yudistira, Made Bagus. "PENGATURAN HUKUM SERTIFIKAT HAK ATAS MEREK SEBAGAI JAMINAN FIDUSIA DALAM PROSES PENGAJUAN KREDIT DI PERBANKAN BERDASARKAN UNDANG-UNDANG NOMOR 20 TAHUN 2016." Jurnal Magister Hukum Udayana (Udayana Master Law Journal) 6, no. 3 (January 11, 2018): 310. http://dx.doi.org/10.24843/jmhu.2017.v06.i03.p04.
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United Nations Commission on Intellectual Trade Law (UNCITRAL) in a conference held on 39th round in 2006, this round brought to the result of intellectual properties, specifically on the Trademarks that has been the source of bank financing. Then the things that to be discussed regarding to the legal arrangements of the rights certificate on the trademark as fiduciary assurance in the process of application for bank credit and also the ideal form provisions of the trademark as an object that used as an assurance object. The purpose of this writing is to find the explication of the rule of law concerning about the rights provision to the trademark as a fiduciary assurance after the issuance of the constitutions number 20 of 2016 about trademark and geographical indications, because in that constitution there was nothing firm as it stated on the article that related to the rights of the trademark as fiduciary assurance or the norm is blurred and implicitly stated that the rights of the trademark can be used as an object of fiduciary assurance. Besides that there was also the non-law factor and the bank policy that complicates the process in banking. Nevertheless there is a legal basis that arranged by the constitutions number 42 of 1999 regarding the fiduciary assurance and the code of civil law concerning the elements of the trademark that can be used as fiduciary assurance in the process of credit application.
United Nations Comission on Intellectual Trade Law (UNCITRAL) dalam pertemuan yang diselenggarakan pada putaran ke 39 yaitu pada tahun 2006, putaran in menghasilkan kekayaan intelektual, khususnya Merek telah menjadi sumber pembiayaan Perbankan. Maka yang perlu dibahas mengenai Pengaturan Hukum sertifikat Hak atas Merek sebagai jaminan Fidusia dalam proses pengajuan kredit di perbankan serta ketentuan wujud ideal dari merek sebagai benda yang dijadikan obyek jaminan. Tujuan dari Penulisan adalah mencari kejelasan aturan hukum mengenai ketentuan Hak atas merek sebagai jaminan fidusia setelah diterbitkannya Undang-undang no 20 tahun 2016 tentang Merek dan Indikasi Geografis, karena di dalam Undang-undang tersebut tidak menyatakan dengan tegas Pasal yang berkaitan dengan hak Merek sebagai jaminan fidusia atau norma kabur yang tidak secara tegas menyatakan Hak atas Merek dapat dijadikan objek sebagai Jaminan fidusia. Di samping itu juga terdapat faktor non-hukum serta kebijakan Bank yang mempersulit prosesnya di perbankan. Walaupun demikian sesungguhnya terdapat dasar hukum yang diatur oleh Undang-undang no 42 tahun 1999 tentang jaminan Fidusia dan Kitab Undang-undang hukum Perdata mengenai unsur-unsur Merek bahwa dapat dijadikan sebagai jaminan fidusia dalam proses pengajuan kredit.
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Shahzad, Umeair, Jing Liu, and Fukai Luo. "STOCK LIQUIDITY AND CORPORATE TRADE CREDIT STRATEGIES: EVIDENCE FROM CHINA." Journal of Business Economics and Management 23, no. 1 (November 30, 2021): 40–59. http://dx.doi.org/10.3846/jbem.2021.15655.
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This study investigates the nexus of stock liquidity and trade-credit policies in China from 2002 to 2017. The estimates are robust to alternative proxies, various fixed-effects, and the exogenous impact of Chinese split share structure reforms (SSSR) 2005-06 is investigated through the difference-in-difference analysis. The results validate that stock liquidity significantly impacts firms’ capacity to produce more trade credit supplies and less reliant on trade credit demand. The study applied SUEST analysis to investigate the effect of the Chinese institutional setting. The nexus of stock liquidity and trade credit strategies is substantial in state-owned enterprises. Additional analysis revealed that the said association is more visible to credit-constrained and equity-reliant enterprises. The policymakers should focus on market liquidity because it elevates firms’ capacity to mobilize capital through trade credit provisions. The micro aspect of this study suggests that stock liquidity allows managers to shape non-price competitive strategies and avoid excessive usage of trade credits.
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KASSEM, DR Ali. "Impact of Solid Waste Management on Rural Development in Lebanon Advantages and Disadvantages Case Study: Ain Baal Project (Tyre caza)." International Business & Economics Studies 3, no. 4 (November 16, 2021): p40. http://dx.doi.org/10.22158/ibes.v3n4p40.
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Solid waste is a global, regional and national problem. Lebanon is not isolated and far away from this problem. Lebanese state since the beginning did not work to find a scientific effective permanent lasting solution to this problem. Every day all media broadcast about solid waste problems, especially in the region of Sidon and Tyre caza. The file of solid waste management (collecting-transporting-disposal) is exhausting municipalities’ financial resources instead of investing these funds in implementing rural development programs, which TYRE caza fiercely needs. Development represents the most challenging aspect for all countries of the world, whether they are developed or developing countries. In addition, development in its concept and application, whether it was sustainable development, local, rural, urban, became the focal attention of states governments alike, whether those countries are developed or developing countries. For that purpose, those countries have established ministries and research centers to take care of development and even to add university degree related to development.Lebanon has not follow this track, neither in the formulation of designed ministry for development nor in the adding of university specialized degree, also the academic literature, who deals in the subject of development. “Limited number of institutions involved in rural development such as , the establishment of kafalat cooperation, a new investment law that establish the autonomous investment development authority of Lebanon (IDAL), the provision of subsidized credit through a central bank facility, signing trade agreements to expand and liberalize trade with Lebanon’s partners” E/ESCWA/2007/WG.5 26OCTOBER 2007.The research will focus on the concepts of rural development, rural area, analyze the impact of expenditure on solid waste on rural development in TYRE caza.
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Man Kim, Sang. "Export Credit Guarantee and Prohibited Subsidies Under the SCM Agreement." Journal of World Trade 54, Issue 3 (June 1, 2020): 439–53. http://dx.doi.org/10.54648/trad2020020.
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Export credit guarantee or insurance covers non-payment risks in exports. Many countries have established export credit agencies (ECAs) to promote exports through export credits including export credit guarantee or insurance. Officially supported export credits have brought the concern that they may distort fair competition in international trades. Export credit guarantee or insurance programmes with inadequate premium rates are likely to fall under the prohibited subsidies. ECAs need to understand the requirements of the prohibited subsidies under the Agreement on Subsidies and Countervailing Measures (SCM Agreement). This article will discuss features and functions of export credit guarantee or insurance in international trades. This article will also discuss some issues concerning the elements of a subsidy and illustrated list of prohibited export subsidies with regard to export credit guarantee or insurance by analysing the relevant provisions of the SCM Agreement and WTO Panel or Appellate Body Reports. countervailing measure, export credit, export credit insurance, export credit guarantee, prohibited subsidy, the SCM Agreement, subsidy
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Taiwo, Onifade Stephen, Acet Hakan, and Çevik Savaş. "Modeling the Impacts of MSMEs’ Contributions to GDP and their Constraints on Unemployment: The Case of African’s Most Populous Country." Studies in Business and Economics 17, no. 1 (April 1, 2022): 154–70. http://dx.doi.org/10.2478/sbe-2022-0011.
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Abstract The activities of micro small and medium-sized enterprises (MSMEs) are crucial to combating the menace of unemployment towards the actualization of the Sustainable Development Goals (SDGs) in African. However, financial constraints and infrastructural deficits are conspicuous issues among the numerous challenges confronting MSMEs’ activities in many developing nations. Hence, this study explores the challenges and the impacts of MSMEs’ contributions to GDP on the unemployment level in Nigeria as Africa’s most populous country. The empirical results from the study using annual time series data (1985-2018) reveal that a rise in MSMEs’ activities vis-à-vis their contributions to GDP in 5 major economic sectors (agriculture, trade, accommodation, manufacturing, and other services) alongside the financial support given to them, have significant impacts on stemming the level of unemployment in the Nigerian economy. Contrastively, the cost of accessing credit by MSMEs significantly exasperates unemployment while the impacts of the level of infrastructural investments by the government were found to be insignificant in reducing unemployment in the country over the reviewed period. In practical terms, the findings suggest that while ensuring adequate provision of financial support to MSMEs, cogent efforts should be concurrently geared toward the implementation of sufficient budgetary allocations for investment in critical infrastructures like electricity, transport, and ICT facilities to boost MSMEs’ activities to proactively address the unemployment menace in Nigeria.
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Nedumpara, James J. "Export Credits and Safe Haven Provisions under the WTO SCM Agreement: A Case of False Safety?" Global Trade and Customs Journal 8, Issue 3 (March 1, 2013): 81–89. http://dx.doi.org/10.54648/gtcj2013012.
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Official financing support in the form of export credit has been a controversial issue in World Trade Organization (WTO) dispute settlement. WTO Members that apply the interest rate provisions of the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits qualify for the safe haven provisions under item (k) of Annex I of the Agreement on Subsidies and Countervailing Measures. However, an interesting issue is whether subsidized export credits which comply with the OECD Arrangement can be targeted in countervailing duty (CVD) actions. This commentary seeks to examine the scope and limit of the safe haven provisions in the light of the WTO disputes dealing with export credits and other domestic CVD actions concerning export credits. The article argues that safe haven provisions under item (k) are of limited use especially in the context of CVD investigations.
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Jones, David S. "Infrastructure management in Singapore: privatization and government control." Asian Education and Development Studies 4, no. 3 (July 13, 2015): 299–311. http://dx.doi.org/10.1108/aeds-12-2014-0064.
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Purpose – Singapore is a small, densely populated city-state, which has become a prosperous global trading, investment and communications hub. In light of this, particular challenges have arisen in the development of its infrastructure to meet its needs. These challenges are met by harnessing private capital in the design, building, management and funding of the infrastructure. The purpose of this paper is to examine various arrangements in using private capital within key infrastructure sectors: mass rapid transit, roads, water supply, electricity generation and transmission, maritime ports and airport, ITC services, and industrial infrastructure, and to consider how full privatization, limited privatization (government-linked companies), direct government provision through statutory authorities (relying partly on private borrowing), and a mix of the above arrangements require infrastructure providers, even statutory authorities, to follow business practices. Design/methodology/approach – This paper adopts an empirical, discursive and critical approach. Findings – The Singapore government has continued to see its role as steering the economy into niche sectors where Singapore can acquire a competitive edge, and to overall facilitate economic development through active intervention. This includes, amongst other things, state-sponsored training and education, capital grants to start-ups, trade promotion, various fiscal incentives to businesses, guarantees for bank credit, etc. (Ghesquiere, 2007). This twin-pronged approach has been reflected in the development and management of the infrastructure. In line with the creation of a strong free enterprise economy, privatization and private capital has been a central feature of infrastructure investment and management. Originality/value – The paper shows how private capital can be used through privatization and borrowing from the private sector to manage the infrastructure. This may be considered an appropriate means to meet the needs of a densely populated small state which is also a global hub for trade, research, investment and communications. It also shows how the harnessing of private capital can be combined with continued government control to ensure that the infrastructure development reflects public policy and adheres to required standards.
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Bachmann, Felicitas. "Potential and limitations of organic and fair trade cotton for improving livelihoods of smallholders: evidence from Central Asia." Renewable Agriculture and Food Systems 27, no. 2 (May 23, 2011): 138–47. http://dx.doi.org/10.1017/s1742170511000202.
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AbstractCotton is a leading agricultural non-food commodity associated with soil degradation, water pollution and pesticide poisoning due to high levels of agrochemical inputs. Organic farming is often promoted as a means of addressing the economic, environmental and health risks of conventional cotton production, and it is slowly gaining ground in the global cotton market. Organic and fair trade cotton are widely seen as opportunities for smallholder farmers to improve their livelihoods thanks to higher returns, lower input costs and fewer risks. Despite an increasing number of studies comparing the profitability of organic and non-organic farming systems in developing and industrialized countries, little has been published on organic farming in Central Asia. The aim of this article is to describe the economic performance and perceived social and environmental impacts of organic cotton in southern Kyrgyzstan, drawing on a comparative field study conducted by the author in 2009. In addition to economic and environmental aspects, the study investigated farmers’ motivations toward and assessment of conversion to organic farming. Cotton yields on organic farms were found to be 10% lower, while input costs per unit were 42% lower; as a result, organic farmers’ cotton revenues were 20% higher. Due to lower input costs as well as organic and fair trade price premiums, the average gross margin from organic cotton was 27% higher. In addition to direct economic benefits, organic farmers enjoy other benefits, such as easy access to credit on favorable terms, provision of uncontaminated cottonseed cooking oil and cottonseed cake as animal feed, and marketing support as well as extension and training services provided by newly established organic service providers. The majority of organic farmers perceive improved soil quality, improved health conditions, and positively assess their initial decision to convert to organic farming. The major disadvantage of organic farming is the high manual labor input required. In the study area, where manual farm work is mainly women's work and male labor migration is widespread, women are most affected by this negative aspect of organic farming. Altogether, the results suggest that, despite the inconvenience of a higher workload, the advantages of organic farming outweigh its disadvantages and that conversion to organic farming improves the livelihoods of small-scale farmers.
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Soprano, Roberto. "Doha Reform of WTO Export Credit Provisions in the SCM Agreement: The Perspective of Developing Countries." Journal of World Trade 44, Issue 3 (June 1, 2010): 611–32. http://dx.doi.org/10.54648/trad2010022.
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Export credit instruments are important tools for enterprises used by developing and developed countries to face risks of default of transactions and to offer purchasers extended payment of their goods. Although they contribute to foster international trade, their misuse is likely to distort competition in the marketplace. In order to prevent competition being based on the amount of support received by the domestic Export Credit Agencies more than on price and quality of goods traded, states developed international rules within the framework of the Organization for Economic Cooperation and Development (OECD) and World Trade Organization (WTO). However, the manner in which those rules have been written creates an unbalanced playing field between developing and developed countries. During the Doha Development Round, some countries proposed amendments in the current WTO norms in order to modify items (j) and (k) of the Illustrative List of Annex I of the Subsidies and Countervailing Measures (SCM) Agreement and reduce the unbalances due to the financial and risk conditions of developing countries against developed countries. This contribution will analyse the interests of developing and developed countries in the Doha proposed reforms aimed at restoring a level playing field among WTO Members.
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Ewanchuk, Logan, and Christoph Frei. "Recent Regulation in Credit Risk Management: A Statistical Framework." Risks 7, no. 2 (April 14, 2019): 40. http://dx.doi.org/10.3390/risks7020040.
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A recently introduced accounting standard, namely the International Financial Reporting Standard 9, requires banks to build provisions based on forward-looking expected loss models. When there is a significant increase in credit risk of a loan, additional provisions must be charged to the income statement. Banks need to set for each loan a threshold defining what such a significant increase in credit risk constitutes. A low threshold allows banks to recognize credit risk early, but leads to income volatility. We introduce a statistical framework to model this trade-off between early recognition of credit risk and avoidance of excessive income volatility. We analyze the resulting optimization problem for different models, relate it to the banking stress test of the European Union, and illustrate it using default data by Standard and Poor’s.
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Kassoh, Fallah Samuel, Jusufu Abdulai, Osman Nabay, and Rebecca Bockarie. "Determinants of Inlet Choices of Sheep and Goats Traders in Ghana: A Case Study of Kumasi and Tamale." Journal of Agricultural Science 9, no. 7 (June 7, 2017): 105. http://dx.doi.org/10.5539/jas.v9n7p105.
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The consumption of Small ruminants’ meat (sheep and goat) form an integral component of an average Ghanaian’s diet due to the country’s emergence to a middle income earning status and awareness of the outstanding benefits of a nutritious diet. However, periodic shocks in market availability of products severely impacts access and in most cases cause price hike hence affecting dietary patterns especially of urban dwellers that are mostly habitual in recurrent consumption of these products. Against such insight, this study investigates the factors that influence the inlet choice of sheep and goats traders in two urban towns of Ghana (Kumasi and Tamale) using Multinomial logit model. The selection of Kumasi and Tamale markets were based on the progressive marketing and consumption of sheep (S) and goats (G). A multi stage sampling technique was used in this study. A reconnaissance survey was carried out in Kumasi and Tamale metropolis in order to identify the existing markets and to generate the sample frame. Ten markets were purposively selected based on the proximity of the markets to the urban centres. A total of 284 traders were randomly sampled from the sampling frame. A structured questionnaire was used to collect relevant data, and analyzed using descriptive statistics and inferential statistics. The results of the study showed that majority of the traders were male with most (43%) falling within the age range of 31 to 40 years. International market (Burkina Faso) was identified as the major source of sheep and goats with 37% of total respondents sourcing from there. The major factors found to be influencing the inlet choice of sheep and goats by sampled traders in the study areas were prices, licenses, quantity of animals handled, transportation cost, education, experience and age of the traders. Based on the findings of the study, the following recommendations were suggested to improve the SG trade in urban centres of Ghana: Credit provision to traders who desire it to establish and expand their investment; reduction of license cost; and general reduction of fuel price so as to ease economic mobility of products.
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ANSELMI, GIULIO. "VOLATILITY MEASURES, LIQUIDITY AND CREDIT LOSS PROVISIONS DURING PERIODS OF FINANCIAL DISTRESS." Journal of Financial Management, Markets and Institutions 06, no. 02 (December 2018): 1850006. http://dx.doi.org/10.1142/s2282717x18500068.
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In this paper, we investigate the role of liquidity in banks lending activity and how liquidity provision is related to bank’s credit risk and others market-based risk measures, such as bank’s implied volatility skew from options traded on the market and realized volatility from futures contract on LIBOR, during periods of global financial distress. Credit risk is given by the ratio between loan loss reserves and total assets and we find that losses from lending activity force banks to build up new liquidity provisions only during the period of financial distress. Liquidity ratio is given by the sum of cash and short-term assets over total assets and we discovered that credit risk reduces liquidity ratio only in bad times, as this demand for liquid asset is suddenly switched on and the more reserves from loan losses the bank has, the more it cleans its balance sheet from long-term commitments in order to replenish its cash and short-term securities. When we control for market-based risk measures, we evidence that both implied volatility skew and LIBOR’s realized volatility are negatively related with the liquidity ratio and are useful in predicting a distress in bank’s liquidity holdings.
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Chhina, Ramandeep Kaur. "Managing money laundering risks in commercial letters of credit." Journal of Money Laundering Control 19, no. 2 (May 3, 2016): 158–68. http://dx.doi.org/10.1108/jmlc-05-2015-0019.
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Purpose The purpose of this paper is to critically examine the role of banks in detecting and mitigating money laundering risks in trade finance activities, especially in commercial letters of credit, and to answer the central question: do banks comply with regulations that are inadequate (if so, is more stringent regulation compatible with the commercial world of trade finance?), or are banks are in danger of non-compliance? Design/methodology/approach The relevant principles promulgated by international organisations as well as the law enacted in UK to prevent money laundering risks in commercial letters of credit was examined to assess banks’ compliance with their anti-money laundering (AML) obligations. The key provisions of the Money Laundering Regulations 2007, Proceeds of Crime Act 2002 and the Wolfsberg Trade Finance Principles were discussed, and the extent of banks’ compliance with these provisions was highlighted by carefully analysing the steps a bank might take at various stages of the operation of a commercial letter of credit and what the banks in fact do. The paper relies heavily on the findings of the recent study conducted by the Financial Conduct Authority (UK) to analyse the actual practice followed by UK banks in controlling money laundering risks in transactions involving commercial letters of credit. Findings The paper establishes that considering the formal nature of commercial letters of credit (which makes them independent from the underlying transaction), any stringent measures to regulate trade finance activities of a bank may destroy the effectiveness of commercial letters of credit as a tool for promoting international trade. The current law and regulations together with the Joint Money Laundering Steering Group Sectoral Guidance and the Wolfsberg Principles provide the requisite legal and regulatory framework to control money laundering risks in commercial letters of credit. The paper however establishes that the majority of banks in UK currently appear to be in danger of non-compliance with the UK AML regime and certainly need to meet their AML obligations in a more serious way. Practical implications The findings may influence banks to adopt a more vigilant approach in their trade finance activities and to undertake more responsibility in ensuring compliance with the current AML law and regulations, while highlighting that their current practice may put them in danger of non-compliance. Originality/value The paper demonstrates in an exceptional way the legal and regulatory requirements for banks to prevent money laundering risks in their trade finance activities and where, in practice, the banks are falling short of compliance with these requirements. By adopting a step-by-step approach in evaluating banks’ “current-and-must have” approach to controlling money laundering risks at various stages of a commercial letter, the paper makes a valuable contribution to the study of combating money laundering in commercial letter of credit transactions.
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Putra, I. Wayan Dodi M., Ni Luh Made Mahendrawati, and Ni Komang A. Styawati. "Tindak Pidana di Bidang Perbankan dalam Transaksi Perdagangan Luar Negeri dengan Menggunakan Letter Of Credit." Jurnal Konstruksi Hukum 3, no. 2 (March 29, 2022): 455–59. http://dx.doi.org/10.55637/jkh.3.2.4895.455-459.
Full textAbstract:
Letter of Credit/LC is an interbank payment transaction instrument whose legal arrangements have been established both nationally and internationally. In this study, the writer wants to know how the regulation of criminal acts in the banking sector against foreign transactions through letters of credit, and the criminal sanctions that make the issuing bank a victim in foreign trade transactions using the letter of credit , uses this type of normative research. sources of primary, secondary, and tertiary rules. This thesis uses the type of search, recording and documentation Analysis of legal sources is carried out systematically using legal arguments and the results are presented descriptively. The conclusion is that the regulation of foreign trade crimes through Letter of Credit is regulated in UPC-DC600 and PP No. 1/1982 as well as Law No. 10/1998 on banking. Sanctions for violating foreign transactions through a Letter of Credit can be subject to criminal sanctions and fines in accordance with the provisions of Article 49 (1) of Law No. 10/1998.