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Articles ( Showing 21-40 of 132 items)
Searched for: [ Keywords: "Central Bank Policy" ] clear all
Journal Article
Nexus Between Asset Class Volatility and the Output Gap in Nigeria: A Bayesian Var Approach
by richard umeokwobi , Abayomi Awujola , Emeka Nkoro  and  Marvelous Aigbedion
Abstract
Excessive volatility in financial markets can disrupt economic activity, affect investor and consumer confidence, and potentially lead to financial crises in an economy. Due to this backdrop, this study examined the link between asset class volatility and the output gap in Nigeria. The asset classes were categorized into stock, crude, gold, and bitcoin. The study adopted the GA [...] Read more
Hit Affiliation:
Central Bank of Nigeria, Nigeria

Journal Article
The Impact of Financial Liberalization Policies on Income Inequality
by Fateh Saci
Abstract
This paper examines impacts of China’s financial liberalization policy on income inequality, through three channels: financial scale, financial structure and financial efficiency, an empirical analysis based on panel data of 30 provinces in China from 1996 to 2013 is conducted. The results confirm the Kuznets effect between financial scale, financial structure and income [...] Read more

Journal Article
Unlocking the Potential of Chinese Urban Innovation: The Role of Support Policies for New R&D Institutions from an Innovation Chain Management Perspective
by mingyang Zhang
Abstract
The enactment of policies that bolster new research and development (R&D) institutions stands as a pivotal strategy to catalyze urban innovation and development. Adopting a strategic lens of innovation chain management and employing the Differences-in-Differences (DID) method to scrutinize panel data from 43 Chinese cities spanning 2008 to 2019, this study probes the effica [...] Read more

Journal Article
Does Rocky Mountain Credit Union Competition still Affect Commercial Bank Interest Rates?
by Thomas M. Fullerton , Robert J. Tokle , Bryce Jones  and  Steven L. Fullerton
Abstract
Historically, increased credit union competition in Idaho and Montana has caused commercial banks to offer higher deposit rates to savers and lower loan rates to borrowers. Data are collected for the second quarter of 2018 to examine whether that pattern still holds true. Unlike prior studies, empirical results indicate that credit union competition no longer exerts statistical [...] Read more

Journal Article
Long-Term Dependencies in Central European Stock Markets: A Crisp-Set Analysis
by Rui Manuel Teixeira Dias , Mariana Chambino  and  Nicole Rebolo Horta
Abstract
This paper intends to analyze efficiency, in its weak form, in the stock markets of Austria (ATX), Poland (WIG), the Czech Republic (PX Prague), Hungary (BUX), Croatia (CROBEX), Serbia (BELEX 15), Romania (BET), and Slovenia (SBI TOP), from February 16, 2018, to February 15, 2023. To achieve the research aim, we intend to answer the following research question: i) Have events i [...] Read more

Journal Article
Does the foreign negative list system aggravate domestic banking industry risks?
by Zineb Hminna , Xuehuan Lu , Tianlei Dai  and  Huiping Gao
Abstract
In the context of the continuous deepening reform of the foreign investment negative list system and the increasing pressure on financial risk prevention and resolution, it is of great significance to study the impact of the foreign investment negative list system on banking risks. This study is conducted on the basis of systematically sorting out the mechanism of the foreign n [...] Read more
Hit Affiliation:
Xuchang Branch, Bank of China, Henan, 461000, China

Journal Article
Knowledge Sources and Manufacturing Enterprise’s Technological Innovation
by Shuang Yao , Ying Li  and  Xin Zhao
Abstract
This paper uses the questionnaire data of the World Bank’s China Enterprise Survey 2012 to establish a Logit model to empirically study the relationship between knowledge sources and technological innovation in Chinese manufacturing enterprises. The results show that although internal and external knowledge has a positive effect on enterprise technological innovation in g [...] Read more
Hit Affiliation:
Financial Department, Central University of Finance and Economics, Beijing, China

Journal Article
Which Component of Deposit Drives Systemic Risk Volatility
by Yunying Huang  and  Kenichiro Soyano
Abstract
Bank deposit is closely related to systemic risks. In addition, considering that resident deposits in China have significant seasonal characteristics, this paper focuses on which component of deposits drives the systemic risk volatility, that is, it can supplement the existing forecast information. We use X-13ARIMA-SEATS to decompose deposit into three subsequences. The researc [...] Read more
Hit Affiliation:
Department of Law and Public Policy, Takaoka University of Law, Toyama-ken, Japan

Journal Article
Dynamic Nonlinear Relationship between Digital Transformation, Green Transformation in Manufacturing Industry and Labor Structure: Evidence from Panel VAR Analysis
by Haiyong Jiang , Yinghui Han , Yue Wang  and  Zhenyu Chen
Abstract
The digital transformation of manufacturing industry can promote the development of green transformation and promote the differentiation of workers’ skill structure; On the other hand, it will also hinder the green development due to the huge energy consumption generated by the application of digital technology and facilities. In addition, the green transformation of manu [...] Read more
Hit Affiliation:
Ping An Bank Co., Ltd., Jinan Branch, Jinan, China

Journal Article
The impact and mechanism of the relaxation of fertility policy on income distribution: Evidence from China's Selective Two Children Policy
by Qian Huang , Shoulin Fang , Dongmei Wang , Weiheng Sun , Youcheng Zhou  and  Feiling Lu
Abstract
Numerous studies have explored the impact of family planning policies on income distribution, but the impact of policy relaxation remains largely unexplored. To address this gap, we investigate the effects of China's selective two-child policy, which was implemented in 2013, using provincial panel data from 2011 to 2016. Specifically, we employ a generalized difference-in-diffe [...] Read more

Journal Article
The Efficiency of Rural Public Finance Inputs in Promoting Rural Revitalization: Empirical Analysis Based on Henan Province, China
by Chaoyang Tu , Zhenyu Chen , Yasir Habib  and  Zheng Peng
Abstract
The No.1 document of the Central Government of China has been on the theme of "agriculture, rural areas and farmers" for nearly ten years, placing the solution of "agriculture, rural areas and farmers" at the forefront of the Chinese government's work. Located in the Central Plains, Henan Province in China is one of the major agricultural provinces in China and plays an extreme [...] Read more
Hit Affiliation:
Institute of Energy Policy and Research, Universiti Tenaga Nasional, Kajang, Malaysia

Journal Article
Short-Term Shocks Between Central European Stock Markets: An Approach During The 2020 and 2022 Events
by Rui Manuel Teixeira Dias , Mariana Chambino  and  Nicole Rebolo Horta
Abstract
Stock indexes are used as a barometer of economic health, and fluctuations in these markets can have a substantial influence on the economy. For example, the Covid-19 pandemic caused severe economic disruption, as reflected in stock market indexes. Similarly, Russia's invasion of Ukraine has geopolitical implications that might undermine global trade and economic stability, imp [...] Read more

Journal Article
Exports of Renewable Energy Goods among RCEP members: Potential and Constraints
by Yichang Liu  and  Kaliappa Kalirajan
Abstract
Objective: The paper, specifically examines whether the recently formed Regional Comprehensive Economic Partnership (RCEP) can potentially facilitate minimising the constraints to renewable energy goods exports at the regional level in Asia. Data, Methodology and Findings: Using the panel data from 11 RCEP members from 2006 to 2014, this study has applied the ‘meta fronti [...] Read more
Hit Affiliation:
Arndt-Corden Department of Economics, Crawford School of Public Policy, The Australian National University, Canberra, Australia

Letter
Time to build, financial frictions, and the effectiveness of fiscal stimulus
by Zhiming Ao , Ziyue Chen  and  He Nie
Abstract
By introducing time to build, which creates a time-lag between government investment and the accumulation of productive capital, into an analysis of fiscal stimulus to the economy with financial frictions, we find that the effectiveness of fiscal policy is dampened. While the weakening effects of time to build become significantly weaker alongside with a higher fraction of gove [...] Read more

Journal Article
In search of an optimal public policy in a pandemic: The question of lives versus livelihood
by Gopal K. Basak , Chandramauli Chakraborty  and  Pranab Kumar Das
Abstract
The paper addresses the alternative policy options available to address the question of lives versus livelihood in an SIRD model augmented with a macroeconomic structure. An important contribution of the paper lies in designing the policy of lockdown dependent on the extent of the constraint on the health facilities. The paper supplements the literature with a less stringent ve [...] Read more

Letter
Housing and monetary policy: Fresh evidence from China
by Yun Liu
Abstract
We empirically address the effects of monetary policy on the housing market in China using a novel Time-Varying Parameter VARX model. We show that an expansionary monetary has positive effects on the housing market, while during COVID-19, the effects are approaching to zero or even negative. In addition, the effects of the LPR policy are strong and even larger than that of COVI [...] Read more

Journal Article
Is democracy affecting the economic policy responses to COVID-19? A cross-country analysis
by João Ricardo Costa Filho  and  António Neto
Abstract
How does democracy relate to the initial economic policy responses to Covid-19? Using a cross country analysis, we find that countries with a higher degree of democracy have stronger economic policy responses than their peers. However, when we separate monetary and financial policies from fiscal policy, democracy is not associated with the latter when we control for the income [...] Read more

Journal Article
Dilemma for fiscal policies: supporting economic activity, or ensuring public debt sustainability?
by Séverine Menguy
Abstract
We study analytically the conflict of goals between stabilizing economic activity and public debt sustainability, for the fiscal authorities. In the short run, an active and expansionary fiscal policy, increasing public investment or reducing the labor taxation rate, is growth enhancing. However, as these short term fiscal policies also decrease government revenue and increase [...] Read more

Journal Article
An Empirical Study of the Policy of Low-Carbon City Pilot on the Level of Green Technological Innovation
by Xiaojun Liu , Hongyuan Bi  and  Yu Teng
Abstract
The low-carbon city pilot is an important policy for promoting sustainable development and addressing climate change. The level of green technological innovation is a significant driving force for China's transition to high-quality development and the realization of carbon peaking and carbon neutrality goals. This essay takes the panel data of 30 provinces in China from 2008 to [...] Read more

Letter
Renewable Rush in Syria Faces Economic Crisis
by Mohamad Abou Houran  and  Abd Alwahed Dagestani
Abstract
Since 2011, the conflict in Syria left the country with a devastating energy sector and fragile economy. The residents struggle daily to live with only two hours a day of electricity. The crisis encouraged some Syrians to assemble photovoltaic (PV) panels to generate energy. Unfortunately, the geopolitical risks, the inflation, and displacement are making the situation worse. T [...] Read more
Hit Affiliation:
School of Business, Central South University, Changsha, China