176 research outputs found
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Disaggregated Credit Extension and Financial Distress in South Africa
Get PDFAbstract. This study analyses the relationship between disaggregated credit extension and financial distress in South Africa. Of particular interest is to isolate the components of disaggregated credit extension that show a strong relationship with the measure of financial distress. The empirical results reveal that aggregate total domestic credit extension is robustly positively correlated with the composite indicator of financial distress, while there is a mixed relationship between the components of disaggregated credit extension and the composite indicator of financial distress. In particular, the study finds that total domestic credit extension, instalment sale credit, loans and advances to households, investments and total loans and advances are highly correlated with the composite indicator of financial distress. Therefore,the study conjures that these components could be aggregated into a single measure of credit extension that could be usedfor financial stability purposes in South Africa.Keywords. Disaggregated credit extension, Financial distress.JEL. C32, E44, E51, G21
Religion, Economy, and State: Economic Thought of al-Mawardi in Adab al-Dunya wa-al-Din
Get PDFAbstract. The relation between religion, economy and the country became a major topic in the development of public welfare systems. Humans are political creatures that have the potential to realise the level of moral conscience to meet the needs of a better life, but humans as spiritual beings must have a balance between religious morality and economic morality. With economic ethics are supported by religious morality, the welfare system can be realised systemically if the state, communities and individuals can realise the six-dimensional form: religious observance, good governance, justice, national security, the prosperity of society and the nation's vision.Keywords. Religion, Economy, State, Ethics, Welfare state.JEL. B30, I30, N30, P50, Z12
Determinants of Export Performance in Tanzania
Get PDFAbstract. Tanzania has been experiencing a persistent balance of trade deficit since the 1970s. This paper examines factors affecting export performance in Tanzania during the 1966-2015 period by employing Johansen cointegration and Granger causality approach. The Error Correction Modeling is employed to estimate the model. Based on the findings of cointegration approach the paper reveals that there is a stable long-run relationship between the series. Results suggest that economic real per capita GDP, trade liberalization, and exchange rate have a positive impact on export performance in Tanzania. The results also reveal that exports and official development assistance are negatively associated in the economy of Tanzania. Furthermore, the paper establishes the direction of causality between exports and economic growth. The results on this causal relationship suggest that real per capita GDP causes exports and not otherwise. This implies that that policies geared towards real per capita GDP should be given first priority if export trend is to be enhanced over time. Notwithstanding, from a policy point of view the macroeconomic instability is supported by the findings as inflation has a negative impact on exports. Increases inflation in the exporting economy than importing economy causes exports to become more expensive, resulting in a decline in exports.Keywords. Export, real per capita GDP, macroeconomic stability, trade liberalization.JEL. F14, F35, F43
20th Finance Symposium
Get PDFAbstract. 20th Finance symposium organized by Karadeniz Technical University in collaboration with Finance Science Platform (FBP), sponsored by Eastern Black Sea Development Agency (DOKA) and The Central Bank of Republic of Turkey (CBRT) on October19-22, 2016.20th Finance symposium aims at bringing together academicians and decision makers involved in research and contributing to the scientific and social activities of the scientists working in the field of finance, helping to announce these activities to the public, symposiums, conferences, open sessions etc. in the field of finance. Submitted papers as well as presentations and discussions at the conference was conducted in English or Turkish In this way, it was more participation in conference and scholars have opportunity to share easily their academic studies. At the same time, this conference provided them to find out and meet and even to make cooperation with renowned academician. As a general evaluation, 20th Finance symposium2016 provided a remarkable platform for scholars to increase their knowledge and expand the viewing angle.Keywords. Finance, Finance discipline, Stock markets.JEL. A10, G30, G32
Rögnvaldur Hannesson, Ecofundamentalism: A Critique of Extreme Environmentalism
Get PDFAbstract. Professor Rögnvaldur Hannesson, an authority on natural resource management, has written a well-argued, even if polemical, book against ecofundamentalism, which, for him, puts nature before man. He cogently discusses the difficulties in applying notions of sustainability and biodiversity to the human condition and suggests that in the foreseeable future mankind should continue mainly to use fossil fuels as energy sources. Hannesson regards models of global warming as scientific, but as too uncertain for mankind radically to alter its way of life.Keywords. Environmental economics, Resource economics.JEL. Q20, Q30, Q50
How Trade Facilitation Measures influence Export Orientation? Empirical Estimates with Logistics Performance Index Data
Get PDFAbstract. With inception of a comprehensive WTO framework in 1995, while the tariff barriers across Member countries have declined, several procedural and policy-related hassles still continue to obstruct trade flows. To reduce the procedural hassles to export and import flows, from the Cancun Ministerial (2003) onwards, negotiations to reach an agreement on Trade Facilitation (TF) started, which was finally concluded at the Bali Ministerial (2013) meeting of the WTO. The current analysis explores the relationship between TF measures, as reflected from the World Bank Logistics Performance Index (LPI),and export orientation (export as percentage of GDP) during four years, namely 2007, 2010, 2012 and 2014. The empirical results underline the difference in the influence of TF on export orientation in higher-income and lower-income countries. It is concluded that there is need to continue the ‘Aid-for-Trade’ support measures to lower-income economies, for improving their TF scenario.Keywords. Trade policy, Trade facilitation, Exports, LPI, Empirical estimate, Aid-for-Trade.JEL. F13, F14
Subsidy for New Technology Adoption in Duopoly with Differentiated Goods under Absolute and Relative Profit Maximization
Get PDFAbstract. We present an analysis about subsidy policy for adoption of new technology in duopoly with differentiated goods under absolute and relative profit maximization. Technology itself is free, however, firms must expend fixed set-up costs to adopt new technology. There are various cases about optimal policies depending on the level of the set-up cost and whether the goods of the firms are substitutes or complements. In particular, under relative profit maximization there is a case such that the social welfare is maximized when one firm adopts new technology, but no firm adopts new technology without subsidy. Then, the government should give a subsidy to only one firm. It is a discriminatory policy. The government gives a chance to receive a subsidy to only one firm.Keywords. Subsidy for new technology adoption, Absolute and relative profit maximization, Duopoly.JEL. D43, L13
Mathematical Analysis of the Historical Economic Growth with a Search for Takeoffs from Stagnation to Growth
Get PDFAbstract. Data describing historical economic growth are analysed. Included in the analysis is the world and regional economic growth. The analysis demonstrates that historical economic growth had a natural tendency to follow hyperbolic distributions. Parameters describing hyperbolic distributions have been determined. A search for takeoffs from stagnation to growth produced negative results. This analysis throws a new light on the interpretation of the mechanism of the historical economic growth and suggests new lines of research.Keywords. Historical economic growth; regimes of growth; stagnation; take offs; Malthusian trap; hyperbolic growth.JEL. A10, B15, B16, B22, C29
24th National Conference on Management and Organization
Get PDFAbstract. National Conference on Management and Organization 2016 which was held in Istanbul, by Sabancı University was the 24th in a series of scientific events bringing together academicians from a number of research areas of management and organization such as; Organizational Behaviour, Organizational Theory and Strategic Management. Additionally, the conference offered a workshop onthe previous day of the conference, on May 28th, on topics such as; Research Design, Quantitative Methods, Content Analysis, and Social Network Analysis.In broad terms, the conference was highly informative and provideda significant contributionto its participants in terms of academic knowledge and research perspectives.Keywords. Management, Organization.JEL. M10, M14, M19
