11,005 results on '"balance of payments"'
Search Results
2. Emerging Europe Monitor: South East Europe.
- Subjects
BALANCE of payments ,GROSS domestic product - Abstract
A country report for South East Europe region is presented from publisher Business Monitor International (BMI), with topics including current account challenges in Turkey; forecast of gross domestic product (GDP) in Slovenia and labor market in Bosnia-Herzogovina.
- Published
- 2024
3. Middle East Monitor.
- Subjects
GROSS domestic product ,BALANCE of payments - Abstract
A country report for Middle East region is presented from publisher Business Monitor International (BMI), with topics including foreign policy of Turkey; gross domestic product (GDP) growth in Jordan and current account challenges in Turkey.
- Published
- 2024
4. Emerging Europe Monitor.
- Subjects
INTEREST rates ,BALANCE of payments - Abstract
A country report for Europe region is presented from publisher Business Monitor International (BMI), with topics including central bank policy regarding interest rates in Poland; fall back in current account deficit in Czech Republic and expansion of healthcare sector in Hungary.
- Published
- 2024
5. The Role of Customs Policy in Maximizing the Benefits of Economic Blocs: The Case of Egypt.
- Author
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Barbary, Mahmoud Magdy and Tawfiq, Abdalla Ramadan
- Subjects
TRADE regulation ,INTERNATIONAL trade ,COMMERCIAL treaties ,BALANCE of trade ,FARM produce exports & imports ,EXPORTS - Abstract
This study aims to examine the relationship between customs policy and the economic blocs of which Egypt is a member, with a focus on the theory of New Regionalism and modern trends in customs policies. Egypt joined numerous economic blocs following its accession to the world trade organization (WTO) in 1995, yet this membership has not yielded significant positive impacts on the performance of Egyptian exports or the trade balance. The study utilized panel data analysis of Egypt's international trade from 2001 to 2023. The results indicate that, despite Egypt's limited success in reaping the benefits of most economic blocs, largely due to the concentration of Egyptian exports in primary and agricultural products and the low tariff rates, factors such as customs clearance processes, tariff barriers, non-tariff barriers, regional trade agreements, and technology adoption still play a crucial role in influencing trade volume among member countries. The findings highlight the significance of effective customs procedures and the reduction of trade barriers in boosting trade volumes within regional trade agreements. The study proposes a strategy for Egypt's customs policy to maximize benefits from economic blocs, focusing on four key areas: aligning customs policy planning with targeted export sectors to realize trade creation and trade diversion effects; fully implementing trade facilitation programs and liberalizing customs policy procedures; adopting a national strategy to stimulate high value-added export industries as a long-term solution; and adopting regional trade agreements that support cumulative origin as a short-term solution. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
6. ANALIZA EKONOMSKE (NE) RAVNOTEŽE PLATNOG BILANSA REPUBLIKE SRBIJE U PERIODU 2007-2023.
- Author
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SEKULIĆ, ALEKSANDAR
- Subjects
FOREIGN investments ,REAL economy ,BALANCE of trade ,FOREIGN exchange market ,FOREIGN exchange reserves ,BALANCE of payments - Abstract
Copyright of Ekonomske Ideje i Praksa is the property of Centar za Izdavacku Delatnost Ekonomskog Fakulteta u Beogradu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
7. When Will Japan’s Industrial Production Fully Recover?
- Author
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Nobuo Iizuka
- Subjects
INDUSTRIAL production index ,ECONOMIC indicators ,FLAT panel displays ,ECONOMIC research ,BALANCE of payments ,SCRAP metal industry ,529 plans ,JOB vacancies - Abstract
This article provides an overview of Japan's industrial production and its potential for recovery. The production index for April to June 2024 was lower compared to pre-pandemic levels, with industries such as transport equipment and chemicals being particularly affected. The article also examines the shipments-inventory balance and its impact on production. While electronic parts and devices have shown positive growth, it remains uncertain if this trend will extend to other industries. The article includes a series of data tables from various government sources, covering economic indicators such as cash salaries, job openings, unemployment rates, money stock, balance of payments, trade statistics, and foreign trade statistics. [Extracted from the article]
- Published
- 2024
8. Current account imbalance and the inequality ratio of income to consumption: evidence from China and other Asian countries.
- Author
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Lei, Chunyu, Liu, Nian, Guo, Fei, Chen, Junmei, Yang, Wanyu, and Yang, Guotao
- Subjects
BALANCE of payments ,POOR people ,INCOME inequality ,DEFICIT financing ,CONSUMER credit - Abstract
This paper deals with global imbalances as an increasingly important issue in our age. While the literature establishes that current accounts are inversely related to the ratio of income to consumption inequality in OECD, our study finds that this relationship is reversed in Asia. That ratio has much to do with various schemes of consumption smoothing, which are affected by policy interventions to alleviate the effects of rising income inequality. Different policies may generate opposite outcomes. In OECD, policy encourages consumer credit and deficit spending among low-income people so that consumption inequality is kept artificially low, leading up to a current account deficit. In Asia, policy promotes output growth via high savings with no well-developed smoothing schemes designed to help poor households, so that consumption inequality moves in line with income inequality, with excess savings recycled into a current account surplus. Hence, any reduction in global imbalances requires both regions to adjust their policies for mitigating income inequality and optimizing smoothing schemes. [ABSTRACT FROM AUTHOR]
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- 2024
- Full Text
- View/download PDF
9. Impact of tropical storms on the banking sector in the British Colonial Caribbean.
- Author
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Huesler, Joel
- Subjects
TROPICAL storms ,BRITISH colonies ,ECONOMIC history ,EMERGENCY management ,BALANCE of payments ,OVERDRAFTS ,BANK deposits - Abstract
This paper investigates the impact of four historical tropical storms on the Colonial Bank's operations in the British Caribbean between 1922 and 1927. By employing a high-frequency data set of bank transactions, this study reveals how these severe shocks influenced the banking activities of clients. The findings reveal a multifaceted and significant impact of tropical storm strikes on the banks' operations, particularly a surge in borrowing via overdrafts of current accounts. Moreover, the study reveals the multifaceted nature of such storms' impact on the bank's functionality, with affected branches demonstrating an uptick in deposits and savings as a strategy to mitigate funding shocks. The results of the econometric analysis indicate that the impact of such storms on banks' functionality during the early 20th century was significant and multidimensional. It highlights the critical role that the Colonial Bank plays in facilitating recovery from these devastating events and contributes to the existing literature by studying multiple shocks at different geographical locations and time frames. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
10. Islamic governance and leverage: the interacting role of corporate social responsibility disclosure.
- Author
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Puspitasari, Novi, Harymawan, Iman, and Ab Aziz, Norazlin
- Subjects
SOCIAL accounting ,ISLAMIC finance ,ISLAMIC bonds ,PUBLIC support ,BALANCE of payments ,BOARDS of directors - Abstract
Purpose: This study aims to analyze the relationship between Islamic governance (IG) and leverage and examine the interaction of corporate social responsibility disclosure (CSRD) in the relationship between IG and leverage. Design/methodology/approach: This study used 444 observational data comprising Asian, European and African Islamic banks (IBs) and analyzed using the regression analysis method to answer the research hypothesis. Findings: This study finds that IG had a significant positive effect on leverage, indicating that it can increase the leverage of IBs. In other words, IG boosts the public confidence to entrust their funds to IBs through current accounts and savings. However, this study shows that CSRD weakens the relationship between IG and leverage. In addition, this study includes the control variables of board size, Islamic supervisory board size and company size, where all three variables showed their effect on leverage. These results were obtained through additional analysis by categorizing our sample based on CSRD. Research limitations/implications: The results of this study show that IG significantly positively affects IB leverage globally. This can be used as a basis for policymakers to include the ICG variable in analyzing IBs leverage. The weakness of this study is the use of IG variables based on disclosure so that IG components that affect leverage cannot be analyzed accurately. Future research can use the IG variable by using specific IG component values such as the number of meetings, member attendance and remuneration of SSB members in analyzing IB leverage globally. Originality/value: To the best of the authors' knowledge, this research is the first study to discuss the interaction of CSRD with IG on leverage in Islamic banking in Asia, Europe and Africa, thus adding to the existing literature on Islamic banking. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
11. Symbols and reasons in democratization: cultural sociology meets deliberative democracy.
- Author
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Sass, Jensen and Dryzek, John S
- Subjects
CULTURE ,DELIBERATIVE democracy ,INDIGENOUS Australians ,BALANCE of payments ,FRAMES (Social sciences) - Abstract
We develop an account of societal democratization that synthesizes cultural sociology and deliberative democracy. Cultural sociologists emphasize the symbolic inclusion of marginalized groups into the civil sphere. Deliberative democrats stress growth in the deliberative capacity of society. We argue that democratization entails the co-evolution of culture and reason. The basis of co-evolution is the performative construction of an inclusive demos, which requires a deliberative background but is also a source of the moral emotions that motivate deliberation. Since moral emotions can also sweep people up and make them do reckless things, they must in turn be redeemable in inclusive deliberation. This synthesis sharpens a normative position for the evaluation of episodes of inclusion, extends current accounts of the place of emotion in cultural sociology and deliberative democracy, and provides a frame for comparative analyses of democratization. We illustrate with an examination of the exclusion and inclusion of Indigenous Australians. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
12. Asia Monitor China & North East Asia.
- Subjects
BALANCE of payments - Abstract
A country report for China & North East Asia is presented, from publisher Business Monitor International (BMI), with topics including forecast of current account in Japan; trade appreciation in South Kore; and fiscal deficit in China.
- Published
- 2024
13. Latin America Monitor.
- Subjects
INTEREST rates ,BALANCE of payments - Abstract
A country report for Southern Cone is presented, from publisher Business Monitor International (BMI), with topics including forecast of current account in Argentina; interest rate cut by central bank of Chile; and fiscal deficit in Uruguay.
- Published
- 2024
14. BMI Research: Emerging Europe Monitor: South East Europe.
- Subjects
ECONOMIC development ,BALANCE of payments - Abstract
A country report for South East Europe is presented, from publisher Business Monitor International (BMI), with topics including Economic Growth in CEE; political risk in Bosnia-Herzegovina; and Current Account Deficit in Turkiye.
- Published
- 2024
15. BMI Research: Middle East Monitor: East Med.
- Subjects
BALANCE of payments ,DEBT service - Abstract
A country report for East Med is presented, from publisher Business Monitor International (BMI), with topics including Current Account Deficit in Turkiye; increase of Higher Debt Service payments in Jordan and Protests Raise Prospects of Ceasefire in Israel.
- Published
- 2024
16. BMI Research: Middle East Monitor: Gulf.
- Subjects
ECONOMIC development ,BALANCE of payments - Abstract
A country report for Gulf countries is presented, from publisher Business Monitor International (BMI), with topics including economic growth in Qatar; current account deficit in Oman and political risks in Kuwait.
- Published
- 2024
17. BMI Research: Africa Monitor: Southern Africa.
- Subjects
INTEREST rates ,BALANCE of payments - Abstract
A country report for Southern Africa is presented, from publisher Business Monitor International (BMI), with topics including Benchmark Interest Rate in Botswana; Current Account Deficit in Mozambique and Real GDP Growth at Lesotho.
- Published
- 2024
18. BMI Research: Emerging Markets Monitor.
- Subjects
EMERGING markets ,GROSS domestic product ,BALANCE of payments - Abstract
A country report for Emerging Markets region is presented, from publisher Business Monitor International (BMI) with topics including stability of the currency of Pakistan; increase in gross domestic product (GDP) in Vietnam and current account surplus in India.
- Published
- 2024
19. Trends: Reference source of economic statistics.
- Subjects
ECONOMIC trends ,ECONOMIC indicators ,GROSS domestic product ,EMPLOYMENT statistics ,PRICE inflation ,PRICE increases ,BALANCE of payments - Abstract
The article presents statistical data on economic trends in South Africa. It reports the gross domestic product (GDP) growth, employment and unemployment rates, consumer inflation and price increases in the second quarter of 2024. Economic indicators include exports, imports, balance of payments, production volume and sales, interest rates, exchange rates, share prices, consumer prices, producer prices, business cycles and employee earnings.
- Published
- 2024
20. Corporate income taxation and external balances in the European Union.
- Author
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Tkalec, Marina and Vukšić, Goran
- Subjects
INCOME tax ,INTERNATIONAL taxation ,EXPORT duties ,TAX rates ,EUROZONE ,BALANCE of payments ,BALANCE of trade - Abstract
This study examines the impact of corporate taxation on the external balances of 27 European Union member countries from the late 1990s to 2021. Using an ARDL process and a 2-stage least squares estimation procedure, we find that, in the short term, higher corporate taxation is positively and significantly related to the current account balance and the trade balance for the whole sample. There are considerable differences in the effects in the euro area and non-euro countries, with the latter experiencing a much stronger short-term impact. In the long term, there are no critical differences in the results between the two groups, and the impact of corporate taxation is positive but statistically significant only for the trade balance. The size of the impact of corporate taxation on net exports and current account balances is of similar magnitude, which likely implies that the international profit shifting via manipulating intrafirm prices in international trade does not strongly affect the external balances in our sample. Our results imply that initiatives to increase global tax rates could be justified from an international trade perspective. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
21. "One size doesn't fit all". Bank switching decisions and customer vulnerability in Europe.
- Author
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Fernández-Gutiérrez, Marcos and Ashton, John
- Subjects
RETAIL banking ,BANK customers ,RURAL poor ,BALANCE of payments ,CONSUMER education ,EDUCATIONAL attainment - Abstract
Purpose: This paper examines the relationships between bank switching and both customer vulnerability and consumer-oriented policies (financial education and disclosure practices). Design/methodology/approach: The analysis employs microdata from the Special Eurobarometer on Financial Products and Services, for 24 European nations. It carries out a probit estimation on the factors explaining propensity of bank switching, focusing on three characteristics associated with customer vulnerability: an advanced age, low educational attainment and residence in a rural or a relatively poor region. Findings: The authors report that the probability of bank switching is significantly lower for three groups of vulnerable customers: the elderly, the less educated and those living in deprived regions. Further the authors identify that national financial education policies and disclosure practices have no significant effects on bank switching. Research limitations/implications: Based on these results, the authors propose more targeted policies recognising customers' heterogeneity are required to increase bank switching behaviour. Originality/value: This paper exploits a unique source of information on bank switching behaviour and customer characteristics across European nations. These data are complemented with information about consumer financial education policies and disclosure practices from the World Bank and geographical, market and regulatory factors at the regional and national levels. The paper contributes to two academic areas. First, it presents further evidence on heterogeneity of bank customer switching behaviour, addressed at improving the understanding of customer vulnerability in banking services. Second, it examines the efficacy of consumer-oriented policies (financial literacy and disclosure practices) in encouraging bank switching. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
22. أثر الذكاء الاصطناعي على النمو الاقتصادي في الصين.
- Author
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اسلام عبد الغني خ, وفاء محمد سلمان, and هالة السيد بسيون
- Subjects
FOREIGN investments ,GROSS domestic product ,ARTIFICIAL intelligence ,BALANCE of payments ,U.S. dollar - Abstract
Copyright of Zagazig Journal of Agricultural Research is the property of Egyptian National Agricultural Library (ENAL) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
23. THE IMPACT OF FDI, PORTFOLIO INVESTMENT, TOURISM, INFLATION, NET EXPORTS, AND EXCHANGE RATE ON ASEAN-6 BALANCE OF PAYMENTS: THE MODERATING ROLE OF CORRUPTION PERCEPTION INDEX FROM AN ISLAMIC PERSPECTIVE.
- Author
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Hasbiah, Karfin, and Wairooy, Fatima Az-zahra
- Subjects
BALANCE of payments ,CORRUPTION ,MACROECONOMICS ,FOREIGN investments ,PRICE inflation ,TOURISM ,FOREIGN exchange rates - Published
- 2024
- Full Text
- View/download PDF
24. Current Account Adjustment of the Euro Area in the 2010s: Causes and Policies.
- Author
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Pasch, Sandra and Tervala, Juha
- Subjects
EUROZONE ,MONETARY policy ,ECONOMIC policy ,INTERNATIONAL finance ,FISCAL policy ,BALANCE of payments - Abstract
In the early 2000s, several countries in the euro area (EA), mostly in the South, experienced an increase in current account deficits, while Northern countries saw an increase in current account surpluses. During the euro crisis, the South transitioned from a current account deficit to a surplus, while the North's surplus widened, thereby increasing the EA's overall current account surplus. To analyze the causes of the current account adjustment in the EA during the 2010s and to identify economic policies that reduce external imbalances, we employ a New Keynesian DSGE model with three regions (the North of the EA, the South of the EA, and the rest of the world). Our analysis reveals that the EA's expansionary monetary policy, fiscal consolidation, and lackluster productivity performance explain a significant portion of the current account adjustment. Furthermore, we find that the fiscal revaluation and expansion of the North would have limited effects on external imbalances. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
25. Migración e integración en Norteamérica: una aproximación desde el modelo de Thirlwall.
- Author
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Osorio Caballero, María Isabel and Negreros Amaya, Gonzalo Esteban
- Subjects
ELASTICITY (Economics) ,GEODESIC distance ,INCOME ,DEPENDENT variables ,NORTH American Free Trade Agreement ,HYPOTHESIS - Abstract
Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
26. Disparidades en el Crecimiento Económico entre China y México.
- Author
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Calderón Villarreal, Cuauhtémoc and Hernández Bielma, Leticia
- Subjects
ELASTICITY (Economics) ,BALANCE of payments ,INDUSTRIAL policy ,ECONOMIC expansion ,GROSS domestic product ,COMMERCIAL policy - Abstract
Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
27. Industrialización hacia afuera, balanza de pagos y restricción externa: un análisis para México, 1995-2020.
- Author
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Landa Díaz, Heri Oscar and Cerezo García, Verónica
- Subjects
GLOBAL value chains ,ELASTICITY (Economics) ,CAPITAL productivity ,INDUSTRIAL policy ,SUPPLY chains ,ECONOMIC expansion - Abstract
Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
28. Demand‐led industrialisation policy in a dual‐sector small open economy.
- Author
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Nomaler, Önder, Spinola, Danilo, and Verspagen, Bart
- Subjects
BALANCE of payments ,ELASTICITY (Economics) ,FREE trade ,INDUSTRIALIZATION ,GOVERNMENT policy ,INCOME inequality - Abstract
This article models the process of structural transformation and catching‐up in a demand‐led Southern economy constrained by its balance of payments. Starting from the Sraffian Supermultiplier Model, we model a dual‐sector small open economy with a traditional and a modern sector that interacts with a technologically advanced Northern economy. We propose two (alternative) autonomous elements that define the growth rate of this demand‐led economy: government spending and exports. Drawing from the Structuralist literature, productivity in the technologically laggard Southern economy grows by absorbing technology from the Northern economy, by both embodied and disembodied spillovers, and potentially closing the technology gap. The gap affects the income elasticity of exports, bringing a supply‐side mediation to the growth rates in line with the Balance of Payments Constrained Model. We observe that a demand‐led government policy plays a central role in structural change, pushing the modern sector to a larger share of employment than what results under export‐led growth. Such a demand policy is the only way in which partial catching up (in productivity and GDP per capita) can result, and this is facilitated by a global market place in which the balance of payments constraint is relatively soft. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
29. UK forecast tables.
- Subjects
BUDGET surpluses ,LABOR market ,CONSUMPTION (Economics) ,WHOLESALE prices ,BALANCE of payments - Abstract
The given text is a table titled "UK forecast tables" that provides economic data and forecasts for the United Kingdom. The tables cover various topics such as GDP components, households' sector income and expenditure, trade and balance of payments, labor market indicators, inflation indicators, and government finances. The tables include annual percentage changes and other relevant figures for each category. The forecasts are based on data available up to July 12, 2024. [Extracted from the article]
- Published
- 2024
- Full Text
- View/download PDF
30. UK forecast in detail.
- Author
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Goodwin, Andrew
- Subjects
FISCAL policy ,REAL wages ,ECONOMIC impact of disease ,BALANCE of payments - Abstract
This document provides an economic outlook for the UK, focusing on fiscal policy, monetary policy, prices, and wages. The forecast suggests that borrowing may exceed expectations, and the reduction in borrowing may fall short. The new government's approach to fiscal policy will play a significant role, with potential for more expansionary fiscal policy. Interest rate cuts and a gradual appreciation of the pound are predicted. Inflation is expected to rise above the Bank of England's target in late 2024. The UK economy experienced a recovery in H1 2024, with GDP rising by 0.7% in Q1 2024. Consumer spending has been weak despite growth in real household incomes. The housing market saw a strong recovery in early 2024 but has slowed down due to rising mortgage rates. Business investment has been resilient, and the labour market is loosening. The trade deficit has narrowed, but the primary and secondary income accounts moved further into deficit. Goods exports have struggled, but the data may be exaggerated and is expected to reverse soon. The current account deficit is forecasted to remain stable, and the household sector surplus has increased while the government deficit remains wide. [Extracted from the article]
- Published
- 2024
- Full Text
- View/download PDF
31. Exploring the dynamics of the balance of payments problems: the case of Afghanistan.
- Author
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Sultani, Abdul Hadi and Faisal, U.
- Subjects
GRANGER causality test ,EXTERNAL debts ,PUBLIC spending ,INTERNATIONAL trade ,FISCAL policy ,BALANCE of trade ,BALANCE of payments - Abstract
This study analyzes the size, behavior, and responsible factors behind the balance of payments (BOP) problems in Afghanistan from 2004 to 2020. Since the impact of the real indicators on the BOP of Afghanistan still remains unexplored, this article comprehensively analyzes the primary responsible factors for the BOP problems in Afghanistan. First, a comprehensive critical analysis of the BOP and its components is performed. Second, the autoregressive distributed lag (ARDL) model is conducted to empirically scrutinize the influence of fiscal policy variables like government spending (GEX), tax on international trade (TIT), external debt (EXD), and GDP on the BOP. The empirical results revealed that GDP has a significantly positive impact on Afghanistan's BOP in the long run, whereas the influence of GEX on the BOP is significantly negative. Furthermore, it was found that TIT and EXD have insignificant association with BOP. Although there is a meaningful convergence towards long-run equilibrium with an adjustment speed of 94.95% in each period, none of the covariates has a significant effect on the BOP in the short run. Furthermore, the Granger causality test exposed a bidirectional causality between GEX and BOP and a one-way causation from GDP to BOP. The study recommends structural changes in the economy to increase domestic production and improvements in the composition and direction of exports and imports, redirect government spending in favor of domestic producers, and source external debt with improved debt conditions. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
32. اثر سیاست پولی بر سه کسری در ایران: کاربردی از رهیافت پویایی شناسی سیستم.
- Author
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گیتی صادقیان, احمد جعفری صمیمی, and سعید راسخی
- Subjects
BUDGET deficits ,FOREIGN investments ,BALANCE of payments ,MONETARY policy ,SYSTEM dynamics - Abstract
An approach to the effect of the budget deficit on the current account deficit has always been the focus of economists. In the macroeconomics literature, there are two approaches to investigate this relationship: the Keynesian approach and the Ricardian approach. The Keynesian approach accepts the existence of a relationship between the budget deficit and the current account deficit, while the Ricardian approach rejects this relationship. By examining the studies conducted in the field of Twin deficits, this study examines the hypothesis of Twin deficits and Triple deficits, as well as the impact of monetary policies on Triple deficits. In order to achieve the mentioned goal, the System Dynamics method and data from the period of 1999-2020 were used. The results of the study indicate the establishment of twin and triple deficit. The trend of the capital account shows that this account is always facing a deficit. However, the domestic savings gap does not seem to be fully compensated by foreign capital. The imbalance in the balance of payments aggravates the created budget deficit and can create an accelerated cycle of budget deficit. Also, in this study, the effect of monetary policy on triple deficits was also investigated. The results of the study show that using the monetary policy does not affect the formation of twin deficits and triple deficits [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
33. MULTINATIONAL COMPANIES FOR BUSINESS INTERNATIONALIZATION THROUGH FOREIGN DIRECT INVESTMENT (FDI) IN GLOBALIZATION: TRENDS FOR VALUES.
- Author
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BENABED, Anis
- Subjects
BUSINESS negotiation ,FOREIGN investments ,BALANCE of payments ,POLITICAL stability ,ECONOMIC impact - Abstract
This paper analyzes and describes multinational companies as a business internationalization strategy through foreign direct investments (FDIs) for business internationalization to reach business values in the frames of globalization. The analysis and results demontstrated that Multinational companies (MNCs) and foreign direct investments (FDIs) may face challenges and risks in new locations due to economic and political instability, difficulties of infrastructure, distrust in the locations, locations, difficulties of balance in payment, challenging negotiations in business agreements and quality contracts, borders and transportation challenges, challenging in the market size. Multinational companies that go for foreign direct investment have an economic impact and can affect a country's economy in various ways, for example, in the balance of payments, in growth rates and in job creation. The effect of foreign direct investment by multinational companies can be negative or positive depending on certain factors. A multinational company's pattern of internationalization represents different factors of possibilities, costs, risks and difficulties faced during its internationalization. In conclusions, Foreign direct investment (FDI) is an important step towards business internationalization and if the domestic company decides to go multinational towards FDI, it has to consider the factors of ownership, location and internalization to reach business internationalization as confirmed in Dunning's framework and this analysis. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
34. A Tale of Two Trilemmas: Comparing the International Monetary and Financial Trilemmas.
- Author
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Willett, Thomas D. and Bird, Graham
- Subjects
CAPITAL controls ,FOREIGN exchange rates ,FINANCIAL globalization ,CAPITAL movements ,FINANCIAL policy ,ECONOMIC policy ,BALANCE of payments ,FINANCIAL crises - Abstract
We critically analyze and compare the analytical structures of the international monetary and financial trilemmas. The first structure says that countries cannot have all three of fixed exchange rates, free capital mobility, and monetary autonomy. The second argues that countries cannot have all three of financial globalization, absence of financial crises, and financial autonomy. While the monetary trilemma is often described as being based on the Mundell–Fleming model, this is true only under the assumption of perfect capital mobility. Imperfect mobility can be caused by factors other than capital controls and in this case the constraints of the monetary trilemma need not be binding in the short run. In order to have a mechanism to provide balance of payments equilibrium, however, the theory of economic policy demonstrates that the monetary trilemma must be binding in the long run. While pointing to an important issue the financial trilemma formulation does not provide the most useful way to analyze the tradeoffs generated by financial globalization. More useful for this purpose is the literature on international externalities and public goods. We also argue that for many countries, giving up monetary autonomy will be more costly than giving up financial policy autonomy. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
35. Capital Flows and the Eurozone's North-South Divide.
- Author
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Kohler, Karsten
- Subjects
CAPITAL movements ,GLOBAL North-South divide ,FOREIGN investments ,REAL estate investment ,INTERNATIONAL trade - Abstract
This article offers a monetary perspective on capital flows and the Eurozone's north-south divide. It argues that finance-centric narratives in comparative political economy rightly emphasize financial instability in the periphery, but that the role of capital flows therein requires clarification. The article draws on post-Keynesian monetary theory, coherent accounting, and balance-of-payments data to make three points. First, the focus on the financial account as a driver of current accounts should be abandoned in favor of an analysis of gross capital flows. Gross flows need not stem from excess savings in core countries and can be independent from trade flows. Second, explanations of financial instability in the periphery should go beyond bank flows and consider speculative portfolio flows into bond markets and foreign direct investment into real estate. Third, rising spreads in the periphery during the Eurozone crisis and the outbreak of the pandemic were not triggered by balance-of-payments problems but by a reversal of speculative bond flows. Comparative political economy should thus dedicate more attention to institutions that render peripheral countries susceptible to speculative flows into asset markets. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
36. Analysing The Effects of Cyber Security on National Security From A Realist Perspective: "Stuxnet" Example.
- Author
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Çetinkaya, Şeref and Terzi, Sami
- Subjects
INTERNET security ,CYBERTERRORISM ,NATIONAL security ,STUXNET (Computer worm) ,BALANCE of payments - Abstract
Copyright of Turkish Journal of Security Studies / Güvenlik Calışmalari Dergisi is the property of Turkish National Police Academy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
37. China's evolving international economic engagement: China threat or a new pole in an equitable multipolar world order?
- Author
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Dunford, Michael and Liu, Weidong
- Subjects
INTERNATIONAL organization ,FOREIGN investments ,DEVELOPING countries ,INTERNATIONAL finance ,EMERGING markets - Abstract
Copyright of Area Development & Policy is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
38. Climate Change in the EU's Macroeconomic Imbalance Procedure.
- Author
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Hungerland, Wolf-Fabian and Altmeppen, Christoph
- Subjects
CLIMATE change ,BALANCE of payments - Abstract
EU member states observe an elaborate process to preserve macroeconomic stability: the macroeconomic imbalance procedure (MIP). The MIP is supposed to monitor and prevent macroeconomic imbalances – and if necessary, correct them. It considers a variety of variables to determine the existence of imbalances, e.g. the current account balance or unit labour costs. However, the macroeconomic impact of climate change is ignored. In light of the growing economic risks due to climate change, this article argues that the MIP should consider climate-related risks explicitly to maintain relevance. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
39. Spatial Analysis of the Effect of Halal Product Export and Import on Current Accounts in OIC Countries.
- Author
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Fasa, Muhammad Iqbal, Indahsari, Leny, and Hilal, Syamsul
- Subjects
BALANCE of payments ,IMPORTS ,INDEPENDENT variables ,SECONDARY analysis ,COUNTRIES - Abstract
OIC countries are countries that have the highest development of the halal industry. Most of the export and import activities carried out by OKI are halal products. Exports and imports of the country's halal products will describe the condition of the current account surplus or deficit. This study aims to determine the spatial dependence on the current account and the effect of exports and imports of halal products on the current account. The method used descriptive quantitative techniques with spatial analysis. This research was conducted in 51 OIC countries in 2021 using secondary data. The independent variable values are obtained from ITC and the dependent variable is obtained from WDI. The results showed that there is a spatial autocorrelation in the current account, and the spatial autoregressive regression (SAR) results show that exports of halal products have a significant positive effect on the current account. Meanwhile, imports of halal products have a negative but not significant effect on the current account. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
40. In memoriam, Anthony P. Thirlwall (1941-2023).
- Author
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Albornoz, Maximiliano
- Subjects
ELASTICITY (Economics) ,BALANCE of payments ,ECONOMIC development ,GOVERNMENT policy ,INTERNATIONAL trade - Abstract
Copyright of Realidad Economica is the property of Realidad Economica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
41. The Impact of Monetary Policy and Macroeconomic Indicators on the Current Account in Developing ASEAN.
- Author
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Andini, Sofi Tri, Zahara, Vadilla Mutia, and Suci, Stannia Cahaya
- Subjects
BALANCE of payments ,MONETARY policy ,FOREIGN investments ,COVID-19 pandemic ,GLOBAL Financial Crisis, 2008-2009 ,LETTERS of credit - Abstract
The current account balance is a component of the balance of payments, in which a surplus or deficit is a form of a country's external balance or imbalance. Since the 2008 financial crisis and the COVID-19 pandemic, several countries, especially developing countries, have experienced external imbalances, which is related to a continuous pattern of transactions with the rest of the world. Developing countries in the ASEAN region are often vulnerable to experiencing external imbalances which are reflected in their current account balance, which every year the country continues to fluctuate and tends to decrease until it experiences a current account deficit. This research was conducted to analyze the impact of monetary policy and macroeconomic indicators on the current account situation of developing countries in the ASEAN region during the 15 year period of 2007-2021. The Current Account Balance as the dependent variable and the independent variable uses Interest Rates in explaining monetary policy and macroeconomic variables including Exchange Rate, Inflation, Gross Domestic Product, Foreign Direct Investment, and Trade Openness. This study analyzes long-term and short-term effects using the VECM panel model. The results show that Interest Rates in the short term has no effect, but in the longer term has a significant negative effect. The Exchange Rate in the short term and long term have a significant positive effect. Inflation and GDP have no effect in the short term but have a significant negative effect in the long term. FDI has a significant positive effect in the short term and the long term. And finally, Trade Openness in the short term has a significant positive and in the long term has a significant negative effect. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
42. Retained Earnings, Foreign Portfolio Ownership, and the German Current Account: A Firm-Level Approach.
- Author
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Goldbach, Stefan, Harms, Philipp, Jochem, Axel, Nitsch, Volker, and Weichenrieder, Alfons J.
- Subjects
BALANCE of payments ,INVESTORS ,FOREIGN investments ,SAVINGS accounts ,CORPORATIONS - Abstract
In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded corporations are often co-owned by foreign portfolio investors, current international accounting standards allocate all corporate savings to the host country. This paper suggests a framework to correct for this misleading attribution and applies this concept to Germany. For the years 2012–2020, our corrections retrospectively reduce German savings and consequently the German current account surplus by, on average, €11.5 bn annually. This amounts to lowering Germany's average official current account surplus (€226.6 bn) across these years by approximately five percent. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
43. Uninsurable Income Risk and the Welfare Effects of Reducing Global Imbalances.
- Author
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Dur, Ayşe, Glover, Andrew, and Rothert, Jacek
- Subjects
BALANCE of payments ,INCOME ,WELFARE funding ,DEBTOR & creditor ,INVESTMENTS - Abstract
We highlight the welfare effect of policies that balance global current accounts when households face uninsurable income risk and borrowing constraints. Subsidizing savings in debtor economies reduces current account imbalances and raises the welfare of almost all citizens by increasing world capital, raising wages, and improving insurance for low-wealth households. The same balancing of current accounts is achieved by taxing savings in lender economies; however, this policy hurts most households by reducing global capital. These results suggest that balancing global imbalances may be a positive byproduct of raising investment rates, especially in debtor countries. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
44. The Politics of Film Aesthetics: Filmososphy, Post-Theory, and Rancière.
- Author
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Koutras, Konstantinos
- Subjects
AESTHETICS ,BALANCE of payments ,COGNITIVE science ,CURRENT distribution ,VALUES (Ethics) ,POETICS - Abstract
The question of aesthetics in film-theoretical discourse today is split between, on the one hand, a film-phenomenological or "filmosophical" approach that values the putatively immanent relation between film and the mind and, on the other, the naturalizing epistemology of post-theory, which reduces the question of film aesthetics to one of poetics. What unites these otherwise disparate projects is the consideration of aesthetics divorced from the question of politics; in both cases, the social or political significance of the film–spectator relationship has been summarily purged. In this article, I will offer an alternative account of film aesthetics that draws on Jacques Rancière's theory concerning the mutually determining relationship between aesthetics and politics. In particular, I will consider the relevance of Rancière's thesis concerning what he calls the distribution of sensible to current accounts, as well as taking up his novel consideration of aesthetic distance and the "emancipated" spectator. With respect to film phenomenology, I will examine how its film-theoretical program rests on the flawed concept of a de-politicized spectator enchained by the film image. With respect to post-theory, I will examine how its appropriation from cognitive science of the rational agent model of meaning making inappropriately limits the political potential of film aesthetics. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
45. Efectos previstos del cambio climático en la cuenta corriente de Colombia.
- Author
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Agudelo-Rivera, Camila, Granger-Castaño, Clark, and Sánchez-Jabba, Andrés
- Subjects
CLIMATE change ,BALANCE of payments ,ECONOMIC history ,PUBLIC debts - Abstract
Copyright of Revista de la CEPAL is the property of United Nations Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
46. CHALLENGES OF FINANCING THE CURRENT ACCOUNT DEFICIT OF THE REPUBLIC OF SERBIA.
- Author
-
Čakajac, Božidar, Janković, Nenad, and Dimitrijević, Miloš
- Subjects
BALANCE of payments ,CAPITAL movements ,DEFICIT financing ,FOREIGN investments ,OPTIONS (Finance) - Abstract
Copyright of European Journal of Applied Economics is the property of Singidunum University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
47. UK forecast tables.
- Subjects
LABOR market ,TRANSFER pricing ,FOOD prices ,SUPPLY & demand ,FORECASTING ,BALANCE of payments - Abstract
The given text consists of a table showing numerical data for various years and categories. The years range from 2022 to 2027, and the categories are labeled as I, II, III, and IV. The numbers in the table represent different values for each year and category. The purpose and context of this data are not provided in the text, so further exploration of the underlying document may be necessary to fully understand its significance. [Extracted from the article]
- Published
- 2024
- Full Text
- View/download PDF
48. EL COMERCIO EXTERIOR ESPAÑOL ANTE LOS RETOS DE 2024.
- Subjects
BUSINESS planning ,INTERNATIONAL trade ,BALANCE of payments ,INTERNATIONAL relations ,GOVERNMENT policy ,ELECTRIC vehicle industry ,EUROZONE ,EXPORTS - Abstract
Copyright of Boletín Económico de ICE is the property of S.G.E.E.I.P.C., Secretaria de Estado de Comercio, Ministerio de Industria, Comercio y Turismo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
49. Currency Exposure and The Determinants of Corporate Hedging Practice Among Malaysian Non-Financial Firms.
- Author
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WAN SUHAIMI, WAN NURHANAN and WAHAB, HISHAMUDDIN ABDUL
- Subjects
FINANCIAL crises ,GLOBAL Financial Crisis, 2008-2009 ,NATIONAL currencies ,PRICE-earnings ratio ,HARD currencies ,HEDGING (Finance) ,BALANCE of payments ,FOREIGN ownership of business enterprises - Abstract
This study involves a two-stage analysis. Firstly, the study examines currency exposure and corporate hedging practice (proxied by foreign currency derivative (FCD)) among Malaysian non-financial firms from 1995-2016. It is found that 35.75% of the sample firms are significantly affected by the exposure. The use of FCD is also found to be significantly effective in managing the level of currency exposure. Secondly, the study further investigates the determinants of the use of FCD by incorporating both firm-specific and macroeconomic factors. The study finds almost all the firm-specific factors (liquidity, price-earning ratio, asset growth, and foreign sales) and macroeconomic factors (current account, trade, and inflation) as significant determinants behind the firms’ decision to use FCD. Interestingly, the use of FCD is also driven by specific financial events. Due to the nature of the crisis period, the effect of FCD use is only significant during the Asian financial crisis rather than the peg period and global financial crisis. The novelty of this study lies in the inclusion of the macroeconomic determinants of the FCD use. Hence, the detailed analyses may guide the decision-making process of FCD use as the analysis tackles the exposure and FCD use issues in several aspects with the inclusion of the economic information content. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
50. Births in Japan Continuing on Downward Trend.
- Author
-
Nobuo Iizuka
- Subjects
ECONOMIC indicators ,UNITED States economy ,BALANCE of payments ,INDUSTRIAL production index - Abstract
According to an article in the Economy, Culture & History Japan Spotlight Bimonthly, the number of births in Japan is declining. The most accurate source of data is the Monthly Vital Statistics Report, which shows a 5.3% decrease in births compared to the previous year, with a total of 696,886 births in November 2023. Population projections suggest that the number of births will remain low in the future. The article also mentions the low number of births among foreign nationals in Japan. Additionally, the text includes data tables showing economic indicators for Japan from 2016 to 2023, such as cash salary amounts, job openings, unemployment rate, M2 rate of increase, balance of payments, exchange rates, and trade statistics. These tables provide a comprehensive overview of Japan's economic performance during this period, showing fluctuations in various indicators. [Extracted from the article]
- Published
- 2024
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