1,720,956 research outputs found
The Causes and Effects of Financial Crises from Macro and Micro Perspectives: An Empirical Investigation from Top Ten Emerging Countries
Full text linkThis thesis provides a detailed investigation into the causes, dynamics, and consequences of financial crises in emerging economies, spanning the period 1990–2023 and focusing on ten representative countries: Mexico, India, Thailand, Indonesia, Malaysia, South Africa, Russia, Brazil, China, and Turkey. The study adopts a multidimensional approach, integrating macroeconomic, institutional, and microeconomic perspectives to examine both the determinants of crises and their socioeconomic and firm-level impacts.The introductory and literature review chapters set the theoretical foundation, contrasting orthodox and heterodox approaches. While orthodox models emphasize market efficiency and rational expectations, they often fail to explain speculative bubbles and systemic fragility. Conversely, heterodox theories such as Minsky’s Financial Instability Hypothesis highlight the cyclical nature of crises but do not sufficiently account for political volatility and institutional weaknesses in emerging economies. To bridge these gaps, this study synthesises insights from heterodox approaches and Krugman’s currency crisis model to formulate hypotheses addressing both internal vulnerabilities (debt accumulation, speculative behaviour) and external shocks (exchange rate pressures, balance of payments crises).The stylized facts presented in chapter three, provided historical and empirical evidence of recurrent crisis episodes, demonstrating how emerging markets remain highly vulnerable due to dependence on external capital and exposure to global shocks. Case studies of countries such as Brazil, Turkey, Mexico, and Russia illustrate how crises often manifest as twin or triple crises, exacerbated by contagion effects and commodity price volatility.The methodology (chapter four) detailed the quantitative research design, data sources, variable construction, and econometric strategies. Logistic regression, System Generalised Method Moment (GMM), and panel fixed-effects models were employed to address the core research questions, supported by rigorous diagnostic testing to ensure robustness.Empirical analysis of crisis determinants, presented in chapter five confirmed that low GDP growth, weak regulatory quality, high income inequality, large international debt, currency depreciation, and balance of payments imbalances significantly heighten the likelihood of crisis. Political stability emerged as an important mitigating factor when controlling for country-specific heterogeneity.The socioeconomic consequences (Chapter 6) revealed that financial crises increase poverty levels and, through rising unemployment, deepen economic hardship for vulnerable populations. Although income inequality was less directly affected, poverty persistence underscores the need for targeted social protection. Education expenditure unexpectedly showed a short-term positive link with poverty and inequality, raising concerns about allocation efficiency.At the microeconomic level, the analysis of firm productivity (Chapter 7) found evidence of a ‘cleansing effect’, whereby crises force restructuring and efficiency gains among surviving firms. However, larger firms, constrained by structural rigidities, experienced more pronounced productivity declines. High-tech and low-tech firms exhibited distinct responses, highlighting the importance of technological orientation in shaping resilience.Finally, in the concluding chapter (Chapter 8), we provide some policy recommendations by stressing the importance of strengthening governance and institutions, developing proactive social safety nets, improving labour market resilience, ensuring equitable and efficient education investment, and tailoring firm support measures to enhance productivity and adaptability. These findings offer actionable guidance for policymakers in designing effective early warning systems and resilience-building strategies.Overall, this thesis highlights that financial crises in emerging economies are multidimensional phenomena, rooted in structural vulnerabilities and carrying significant social and economic costs. By linking macroeconomic determinants, institutional quality, and firm-level performance, the study provides an integrated perspective that advances both academic understanding and policy relevance
The Causes and Effects of Financial Crises from Macro and Micro Perspectives: An Empirical Investigation from Top Ten Emerging Countries
No full textThis thesis provides a detailed investigation into the causes, dynamics, and consequences of financial crises in emerging economies, spanning the period 1990–2023 and focusing on ten representative countries: Mexico, India, Thailand, Indonesia, Malaysia, South Africa, Russia, Brazil, China, and Turkey. The study adopts a multidimensional approach, integrating macroeconomic, institutional, and microeconomic perspectives to examine both the determinants of crises and their socioeconomic and firm-level impacts.The introductory and literature review chapters set the theoretical foundation, contrasting orthodox and heterodox approaches. While orthodox models emphasize market efficiency and rational expectations, they often fail to explain speculative bubbles and systemic fragility. Conversely, heterodox theories such as Minsky’s Financial Instability Hypothesis highlight the cyclical nature of crises but do not sufficiently account for political volatility and institutional weaknesses in emerging economies. To bridge these gaps, this study synthesises insights from heterodox approaches and Krugman’s currency crisis model to formulate hypotheses addressing both internal vulnerabilities (debt accumulation, speculative behaviour) and external shocks (exchange rate pressures, balance of payments crises).The stylized facts presented in chapter three, provided historical and empirical evidence of recurrent crisis episodes, demonstrating how emerging markets remain highly vulnerable due to dependence on external capital and exposure to global shocks. Case studies of countries such as Brazil, Turkey, Mexico, and Russia illustrate how crises often manifest as twin or triple crises, exacerbated by contagion effects and commodity price volatility.The methodology (chapter four) detailed the quantitative research design, data sources, variable construction, and econometric strategies. Logistic regression, System Generalised Method Moment (GMM), and panel fixed-effects models were employed to address the core research questions, supported by rigorous diagnostic testing to ensure robustness.Empirical analysis of crisis determinants, presented in chapter five confirmed that low GDP growth, weak regulatory quality, high income inequality, large international debt, currency depreciation, and balance of payments imbalances significantly heighten the likelihood of crisis. Political stability emerged as an important mitigating factor when controlling for country-specific heterogeneity.The socioeconomic consequences (Chapter 6) revealed that financial crises increase poverty levels and, through rising unemployment, deepen economic hardship for vulnerable populations. Although income inequality was less directly affected, poverty persistence underscores the need for targeted social protection. Education expenditure unexpectedly showed a short-term positive link with poverty and inequality, raising concerns about allocation efficiency.At the microeconomic level, the analysis of firm productivity (Chapter 7) found evidence of a ‘cleansing effect’, whereby crises force restructuring and efficiency gains among surviving firms. However, larger firms, constrained by structural rigidities, experienced more pronounced productivity declines. High-tech and low-tech firms exhibited distinct responses, highlighting the importance of technological orientation in shaping resilience.Finally, in the concluding chapter (Chapter 8), we provide some policy recommendations by stressing the importance of strengthening governance and institutions, developing proactive social safety nets, improving labour market resilience, ensuring equitable and efficient education investment, and tailoring firm support measures to enhance productivity and adaptability. These findings offer actionable guidance for policymakers in designing effective early warning systems and resilience-building strategies.Overall, this thesis highlights that financial crises in emerging economies are multidimensional phenomena, rooted in structural vulnerabilities and carrying significant social and economic costs. By linking macroeconomic determinants, institutional quality, and firm-level performance, the study provides an integrated perspective that advances both academic understanding and policy relevance
The Causes and Effects of Financial Crises from Macro and Micro Perspectives: An Empirical Investigation from Top Ten Emerging Countries
No full textThis thesis provides a detailed investigation into the causes, dynamics, and consequences of financial crises in emerging economies, spanning the period 1990–2023 and focusing on ten representative countries: Mexico, India, Thailand, Indonesia, Malaysia, South Africa, Russia, Brazil, China, and Turkey. The study adopts a multidimensional approach, integrating macroeconomic, institutional, and microeconomic perspectives to examine both the determinants of crises and their socioeconomic and firm-level impacts.The introductory and literature review chapters set the theoretical foundation, contrasting orthodox and heterodox approaches. While orthodox models emphasize market efficiency and rational expectations, they often fail to explain speculative bubbles and systemic fragility. Conversely, heterodox theories such as Minsky’s Financial Instability Hypothesis highlight the cyclical nature of crises but do not sufficiently account for political volatility and institutional weaknesses in emerging economies. To bridge these gaps, this study synthesises insights from heterodox approaches and Krugman’s currency crisis model to formulate hypotheses addressing both internal vulnerabilities (debt accumulation, speculative behaviour) and external shocks (exchange rate pressures, balance of payments crises).The stylized facts presented in chapter three, provided historical and empirical evidence of recurrent crisis episodes, demonstrating how emerging markets remain highly vulnerable due to dependence on external capital and exposure to global shocks. Case studies of countries such as Brazil, Turkey, Mexico, and Russia illustrate how crises often manifest as twin or triple crises, exacerbated by contagion effects and commodity price volatility.The methodology (chapter four) detailed the quantitative research design, data sources, variable construction, and econometric strategies. Logistic regression, System Generalised Method Moment (GMM), and panel fixed-effects models were employed to address the core research questions, supported by rigorous diagnostic testing to ensure robustness.Empirical analysis of crisis determinants, presented in chapter five confirmed that low GDP growth, weak regulatory quality, high income inequality, large international debt, currency depreciation, and balance of payments imbalances significantly heighten the likelihood of crisis. Political stability emerged as an important mitigating factor when controlling for country-specific heterogeneity.The socioeconomic consequences (Chapter 6) revealed that financial crises increase poverty levels and, through rising unemployment, deepen economic hardship for vulnerable populations. Although income inequality was less directly affected, poverty persistence underscores the need for targeted social protection. Education expenditure unexpectedly showed a short-term positive link with poverty and inequality, raising concerns about allocation efficiency.At the microeconomic level, the analysis of firm productivity (Chapter 7) found evidence of a ‘cleansing effect’, whereby crises force restructuring and efficiency gains among surviving firms. However, larger firms, constrained by structural rigidities, experienced more pronounced productivity declines. High-tech and low-tech firms exhibited distinct responses, highlighting the importance of technological orientation in shaping resilience.Finally, in the concluding chapter (Chapter 8), we provide some policy recommendations by stressing the importance of strengthening governance and institutions, developing proactive social safety nets, improving labour market resilience, ensuring equitable and efficient education investment, and tailoring firm support measures to enhance productivity and adaptability. These findings offer actionable guidance for policymakers in designing effective early warning systems and resilience-building strategies.Overall, this thesis highlights that financial crises in emerging economies are multidimensional phenomena, rooted in structural vulnerabilities and carrying significant social and economic costs. By linking macroeconomic determinants, institutional quality, and firm-level performance, the study provides an integrated perspective that advances both academic understanding and policy relevance
The Causes and Effects of Financial Crises from Macro and Micro Perspectives: An Empirical Investigation from Top Ten Emerging Countries
Full text linkThis thesis provides a detailed investigation into the causes, dynamics, and consequences of financial crises in emerging economies, spanning the period 1990–2023 and focusing on ten representative countries: Mexico, India, Thailand, Indonesia, Malaysia, South Africa, Russia, Brazil, China, and Turkey. The study adopts a multidimensional approach, integrating macroeconomic, institutional, and microeconomic perspectives to examine both the determinants of crises and their socioeconomic and firm-level impacts.The introductory and literature review chapters set the theoretical foundation, contrasting orthodox and heterodox approaches. While orthodox models emphasize market efficiency and rational expectations, they often fail to explain speculative bubbles and systemic fragility. Conversely, heterodox theories such as Minsky’s Financial Instability Hypothesis highlight the cyclical nature of crises but do not sufficiently account for political volatility and institutional weaknesses in emerging economies. To bridge these gaps, this study synthesises insights from heterodox approaches and Krugman’s currency crisis model to formulate hypotheses addressing both internal vulnerabilities (debt accumulation, speculative behaviour) and external shocks (exchange rate pressures, balance of payments crises).The stylized facts presented in chapter three, provided historical and empirical evidence of recurrent crisis episodes, demonstrating how emerging markets remain highly vulnerable due to dependence on external capital and exposure to global shocks. Case studies of countries such as Brazil, Turkey, Mexico, and Russia illustrate how crises often manifest as twin or triple crises, exacerbated by contagion effects and commodity price volatility.The methodology (chapter four) detailed the quantitative research design, data sources, variable construction, and econometric strategies. Logistic regression, System Generalised Method Moment (GMM), and panel fixed-effects models were employed to address the core research questions, supported by rigorous diagnostic testing to ensure robustness.Empirical analysis of crisis determinants, presented in chapter five confirmed that low GDP growth, weak regulatory quality, high income inequality, large international debt, currency depreciation, and balance of payments imbalances significantly heighten the likelihood of crisis. Political stability emerged as an important mitigating factor when controlling for country-specific heterogeneity.The socioeconomic consequences (Chapter 6) revealed that financial crises increase poverty levels and, through rising unemployment, deepen economic hardship for vulnerable populations. Although income inequality was less directly affected, poverty persistence underscores the need for targeted social protection. Education expenditure unexpectedly showed a short-term positive link with poverty and inequality, raising concerns about allocation efficiency.At the microeconomic level, the analysis of firm productivity (Chapter 7) found evidence of a ‘cleansing effect’, whereby crises force restructuring and efficiency gains among surviving firms. However, larger firms, constrained by structural rigidities, experienced more pronounced productivity declines. High-tech and low-tech firms exhibited distinct responses, highlighting the importance of technological orientation in shaping resilience.Finally, in the concluding chapter (Chapter 8), we provide some policy recommendations by stressing the importance of strengthening governance and institutions, developing proactive social safety nets, improving labour market resilience, ensuring equitable and efficient education investment, and tailoring firm support measures to enhance productivity and adaptability. These findings offer actionable guidance for policymakers in designing effective early warning systems and resilience-building strategies.Overall, this thesis highlights that financial crises in emerging economies are multidimensional phenomena, rooted in structural vulnerabilities and carrying significant social and economic costs. By linking macroeconomic determinants, institutional quality, and firm-level performance, the study provides an integrated perspective that advances both academic understanding and policy relevance
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
- …
