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DOWRY IS A CURSE IN WOMEN'S MARRIAGE: CHANGING DETERMINANTS IN THE SOCIO-ECONOMIC CONTEXT OF BANGLADESH
Get PDFThe marriage transaction of women, usually in the form of financial or household and living utilities, known as dowry, is a diffused experience in Bangladesh, attracting much attentiveness from social science academia. It is one of the fundamental reasons for the oppression of women, ranging from diverse psychological and physical abuse that can ultimately lead to femicide or suicide. The study included a total weighted sample of 19,735 married women aged 18 to 61 years. We estimated the prevalence of dowry among the women in the study by prioritising and stratifying them by various characteristics. In this study, we used a five-level binary logistic regression model and estimated odds ratios to identify the determinants associated with the practice of dowry in marriage among women at all levels, with a confidence interval of 95%. The data were analysed using Stata software version 18. This study highlights the trends in the determinants of dowry among married women in Bangladesh. The most striking finding is that almost three-quarters of women, especially in certain regions, were directly involved in dowry. It is noted that higher education of both men and women and older household heads significantly affects the likelihood of dowry reduction. Therefore, these findings suggest that the state and social system should take effective measures to continue the trend of higher education in society, empowering older household heads and increasing awareness of both men and women about dowry
Financial inclusion in banking: A literature review and future research directions
Get PDFThis article presents a synopsis of financial inclusion research in banking. Complementing the existing reviews of the financial inclusion literature, I offer my own thoughts on the role of financial inclusion in banking, and the role of banks in financial inclusion. I focus my discussion on the effect of bank managerial discretion and regulation on financial inclusion outcomes, and the effect of financial inclusion on the business of banking. I show that bank managerial discretion and regulation affect financial inclusion through bank cost optimization decisions and regulatory changes that may have unintended consequences, while financial inclusion affects banks by increasing the deposit base of banks, improving bank profitability, improving banks’ resilience to shocks, improving bank stability and reducing bank risk. I also offer suggestions for future research directions
How the Liberation Day Announcement is Shaping the Global Trade Order : Recent Developments in Financial Stability, Macroprudential Arrangements, and Shadow Banking
Get PDFOn the 20th December 2023, the Financial Stability Board published revised policy recommendations to address structural vulnerabilities from liquidity mismatch in open ended funds (OEFs). Main points which were highlighted in relation to new recommendations include the following:
- Revised FSB recommendations and IOSCO Guidance on Anti Dilution Liquidity Management Tools (LMTs), which are aimed at achieving significant strengthening of liquidity management by open ended funds (OEFs), compared to current practices.
Despite Basel III’s efforts to address capital and liquidity requirements, will the risks linked to regulatory arbitrage increase as a result of Basel III’s more stringent capital and liquidity rules?
Apart from Basel III reforms which are geared toward greater facilitation of financial stability on a macroprudential basis, further efforts and initiatives aimed at mitigating systemic risks, hence fostering financial stability, have been promulgated through the establishment of the De Larosiere Group, the ESRB, and a working group comprising of “international standard setters and authorities responsible for the translation of G20 commitments into standards.”
This paper aims to investigate the impact of Basel III on shadow banking and its facilitation of regulatory arbitrage as well as consider the response of various jurisdictions and standard setting bodies to aims and initiatives aimed at improving their macroprudential frameworks
Patent Policy at a Tipping Point: Why Stronger Patent Protection May Not Foster Economic Growth
Get PDFAccording to the available evidence, stronger patent protection exerts, at best, a modest positive effect on economic growth. Different variants of Schumpeterian growth models predict a wide range of outcomes, from strongly positive to strongly negative effects. We propose a Schumpeterian growth model with endogenous innovation scale, a generalized innovation function that combines R&D lab-equipment and labor-embodied technical knowledge, and a complexity-of-innovation effect. Consistent
with the evidence, plausible calibrations of the model suggest that a typical OECD economy lies near the peak of an inverted-U-shaped curve, where the effect of stronger patent protection on growth is close to zero. In some cases, this effect may even be negative
Exploring the Economic Nature of Spiritual Values: Results from a Qualitative Meta-analysis
Get PDFThe study performs a qualitative meta-analysis of literature on economic valuation of spiritual values, to possibly assess and attach them a common meaning and content. We apply the qualitative meta-analysis procedure, developed by Atkins et al. (2008), and validated by econometric analysis, to (1) literature on spiritual ecosystem services (SES) valuations studies and to (2) literature on measurement of spiritual capital impacts on economies and markets, with a focus on religious markets. Markets and economies, in fact, are complex social structures, where the spiritual values originated in environmental and ecosystem contexts might change connotation and significance. Results show that when spiritual values are expressed as nature direct consumption or instinctual feedback from nature, they seem to have a use value at personal level and a negative impact at social level (economies and institutions). When spiritual values are expressed as responsibility and connection through nature they have a non-use value at personal level and a positive impact at social level (economies and institutions). In this perspective, qualitative meta-analysis results may offer a preliminary support for a better understanding, design and implementation of quantitative and monetary valuation methods for SES and other spiritual values
Aging and its macroeconomic consequences: An inverted U-shaped endogenous economic growth
Get PDFThis study theoretically analyzes population aging and its impacts on economic growth, wealth inequality, and fiscal sustainability. We introduce lifetime uncertainty to the overlapping generations model with heterogeneous households with varied intertemporal preferences, where unintended bequests caused by death are inherited by offspring. Aging can have both positive and negative impacts on economic growth and fiscal sustainability: saving-enhancing effects based on the life cycle theory and wealth-depletion effects caused by extended longevity. When aging advances, saving-enhancing effects are offset by wealth-depletion effects, which eventually outweigh the former. The results show an “inverted U-shaped” relationship between life expectancy and economic growth rate, or fiscal sustainability. Numerical simulation reveals that aging can produce a trade-off between economic growth and wealth inequality. We also show that a rise in deficit or government expenditure ratios exacerbate fiscal instability, economic growth, and wealth inequality under certain conditions
Stackelberg mixed duopoly with a partially foreign-owned competitor
Get PDFAn existing study examines an international mixed duopoly involving a state-owned public firm and a foreign private firm, focusing on their timing choices for quantities and showing that the state-owned public firm should act as the leader. This result differs from that for an endogenous-timing mixed duopoly model where a state-owned public firm coexists with a domestic private firm. We investigate the endogenous order of moves in a mixed duopoly model where a state-owned public firm competes with a private firm that is partially foreign-owned. Specifically, we explore the desirable role of the state-owned public firm, either as a leader or a follower, and present the equilibrium outcome of the model. Our findings reveal that the equilibrium differs depending on whether the foreign ownership ratio of the private firm is low or high
Resilience and Rebound: A Financial Analysis of Czech's Big Four Accounting Firms Post-COVID-19 Recovery
Get PDFIn this comprehensive empirical analysis spanning 2020 to 2022, our study rigorously examines the financial performance of Czech's prominent Big Four accounting firms—Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG—following the multifaceted challenges posed by the COVID-19 pandemic. Focusing on critical profitability ratios, including Net Profit Margin, Return on Assets, and Earnings After Tax Margin, this research is dedicated to identifying the accounting firm that staged the most remarkable comeback during this tumultuous period. The findings unequivocally position KPMG as the standout performer, exemplifying unparalleled financial resurgence. KPMG's capacity to adapt and thrive in the post-pandemic landscape is particularly noteworthy. PwC consistently exhibits financial strength, maintaining a resilient performance throughout the study period, while Deloitte and EY demonstrate stability in their financial metrics. This empirical analysis underscores the dynamic nature of the accounting industry, emphasizing the pivotal role of adaptability and resilience in the face of unprecedented challenges. The insights gleaned from this study provide valuable guidance for stakeholders in the accounting profession, shedding light on strategies and practices conducive to post-pandemic recovery and financial resilience. The exceptional performance of KPMG stands as a compelling case study in navigating the evolving economic landscape
Startup Noncompetes in the Shadow of Acquihiring
Get PDFNon-compete agreements (NCAs) restrict employee mobility and often play important roles in startups, such as preventing leakage of intellectual property. In this article, I propose an additional role of NCAs in startups as a potential countermeasure to acquihiring by developing a model of labor market competition between a potential acquirer and a startup. In the model, the potential acquirer has two options to hire the startup's employee, direct hiring (poaching) and acquihiring — the acquisition of a company to hire its talented employees. NCAs may either induce or prevent acquihiring by affecting the profitability from each hiring strategy for the potential acquirer. I identify the conditions under which NCAs prevent acquihiring and demonstrate that stricter NCA regulation may distort worker allocation and/or reduce worker welfare. This result indicates that, in the context of high-tech industries where acquihiring is relatively prevalent, increased regulation of NCAs could weaken startups, facilitate acquihiring by Big Tech firms, and ultimately reinforce their market power
Visualization of Correlation Tables by Positive/Negative Threshold for Coefficients Significance
Get PDFThis work introduces a novel approach to the visualization of correlation tables, guided by positive and negative significance thresholds of correlation coefficients. Traditional methods for visualizing correlation matrices often rely on heuristic color schemes, which lack a robust analytical foundation. To address this limitation, we propose a method that constructs and analyzes an ordered sequence of so called momentums, separating positive and negative correlations based on their significance. By leveraging mathematical principles of an optimal solutions, this approach enhances the clarity and interpretability of correlation patterns