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The mortgage market can be portrayed as a complicated machine that processes information and disinformation to help lenders and would-be homeowners to fashion an enforceable and fair set of mutual obligations. The papers in this symposium issue focus on ameliorating cyclical speed-ups and slowdowns in the lender-operated parts of this machine. My discussion focuses on two issues: (1) how transitioning to a gig economy is changing household needs for owner-occupied and rental homes across different age groups; and (2) how to use the legal system to lessen the informational disadvantage that would-be homeowners face in understanding the deals they are offered. [ABSTRACT FROM AUTHOR]

As the world No.1 emitter of carbon dioxide (CO2), China has made up its mind to act on climate change. After trials in six pilot regions- Shenzhen, Shanghai, Beijing, Guangdong, Tianjin, Hubei, and Chongqing- a nationwide ETS has been established and implemented in line with the Thirteenth Five-Year Plan period (2016–2020). This paper simulates the effect of a national ETS in China using GTAP 9.1 database and a revised GTAP-E model. The simulation results show that the ETS is very effective in emissions reduction but will cause a mild economic contraction. At the sectoral level, the energy and resource sectors and energy intensive sectors are to be hit hard while most other sectors are affected negatively but insignificantly. [ABSTRACT FROM AUTHOR]

The increasing prominence of climate change, geopolitical crises, and global economic slowdown highlights the challenges and structural deficiencies of traditional cross-border agro-food supply chains. As a result, there has been a growing consensus on the need to leverage digital technology to rebuild and innovate a safe, stable, and sustainable global food system. This study assessed the knowledge progress and development trends in the sustainable development of cross-border agro-food supply chains enabled by digital technology. A total of 352 authoritative papers from the core Web of Science database were selected for analysis. The Citespace tool was utilized to visually examine research elements. The findings reveal that research outcomes in this territory experienced a significant period of rapid growth, particularly after 2020. Sustainability and IEEE Access are the journals with the highest and second-highest number of publications. China and the France National Institute are the countries and research institutions with the largest number of publications in this field. The research hotspots are mainly the application of digital technologies, food safety, and supply chain system model innovation. In the past ten years, the research in this territory has gone through three stages: precise timeliness orientation, intelligent strategic decision-making orientation, and model predictability orientation. We further construct the 'antecedent–practice–performance' conceptual framework of the sustainability of the digital technology-enabled cross-border agro-food supply chain. Finally, this paper presents the potential research directions in this territory, focusing on four aspects: research method, research mechanism, research topic, and research frontier. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic, the Russia–Ukraine and the Israel–Hamas conflicts, and the resulting global economic shocks will affect the world economy for several years. This paper analyzes and discusses monetary finance (MF) using the Quantity Theory of Money (QTM) to understand economic dynamics. To achieve this goal, we utilize a Structural Vector Autoregressive (SVAR) identification scheme with sign restrictions on datasets from advanced economies. The findings indicate that monetary growth plays a role in short-term inflationary dynamics, while its effects are less significant in the medium to long term. The aim of the paper is to contribute to ongoing debate surrounding the potential strategies for addressing the economic downturn through the reintroduction of monetary finance (MF). [ABSTRACT FROM AUTHOR]

Overconfidence (hubris or overestimation of one's ability to perform) has been viewed in the finance literature as a character trait that is stable over time, e.g., assuming that if a manager is overconfident, he/she is overconfident all the time. In this paper, we aim to show that managerial overconfidence can be state-contingent, i.e., the level of managerial overconfidence could be influenced by an external economic shock such as the global financial crisis in 2008. A novelty of this paper is to provide evidence for and application of the concept of state-based managerial overconfidence, which is new in the finance literature. Two empirical studies were reported. In the first study (Study 1), we analyzed real market data by linear regression. We found that managerial overconfidence could vary according to changes in the state of the macroeconomy or tightening of corporate governance policies. In the second study (Study 2), we conducted a lab experiment simulating how external manipulations could alter participants' confidence level. Both our empirical studies provide strong evidence of state-contingent overconfidence by Student's t-test and contribute to the current finance literature, which assumes overconfidence as a personality trait. Our findings have important practical implications for the credit market. According to the state-contingent overconfidence hypothesis, creditors might reduce the loan amount or the loan duration (or other loan contract terms) too excessively by more than the efficient level during an economic downturn if the offsetting effect of state-contingent overconfidence is ignored. [ABSTRACT FROM AUTHOR]

This study examines the causal relationship between informality and globalisation in 30 African countries. It deviates from traditional research by adopting a bi-directional framework to address reverse causality. By applying the DH causality method in both linear and nonlinear frameworks, this research challenges the assumption of a linear relationship and finds that the causal structure is better explained within a nonlinear asymmetric context. This paper provides recommendations based on the identified causal relationships. For countries in which globalisation leads to informality, such as Angola, Congo, Guinea, Gambia, Mozambique, Sierra Leone, Tunisia, Tanzania, Uganda, Zambia, and Zimbabwe, the paper suggests policy measures to integrate the informal sector into the formal economy. These measures include designing programmes to facilitate transition, implementing skill development initiatives, and establishing support mechanisms for entrepreneurship and small businesses. Additionally, this paper advises the development of social safety nets, improved market access, effective monitoring and regulation mechanisms, education on the benefits of globalisation, and international cooperation. For countries experiencing positive shocks from informality to globalisation, this paper recommends targeted support programs for entrepreneurship, initiatives to formalize the sector, the enhancement of market access, and skill development tailored to the needs of the informal sector. These policy recommendations aim to capitalize on the positive shocks in informality by fostering entrepreneurship, formalization, market access, and skill development. In the case of negative shocks in globalisation leading to positive shocks in informality, the paper suggests implementing resilience-building policies for the informal sector during economic downturns, establishing social safety nets, and adopting flexible labour policies. [ABSTRACT FROM AUTHOR]

Libraries, since their existence, have always had to face disruptions like natural and man-made disasters, rapid advances in technology, economic downturns, and even pandemics, affecting the level of service they provide. A library’s ability to survive such phenomena is of utmost importance and is worth noting and sharing. This paper highlights and shares the experience of librarians at the Hiram S. Walters Resource Centre at Northern Caribbean University, Jamaica, in navigating the COVID-19 pandemic. Specifically, the paper describes the library’s response to the crisis, and details how the library supported the university’s full online teaching and learning from March 16, 2020, to well beyond the lifting of the stay-at-home order by the Government of Jamaica, via newly explored initiatives such as online patron self-registration, document delivery, acquisition of digitisation equipment, website redesign, quarantining of books, creation of “how to” videos, and revision of the library’s circulation policy. The paper is scaffolded on a combination of the author’s personal experience working at the Hiram S. Walters Resource Centre and interviews with the Director of Library Services and librarians representing each campus of the university. The paper finds that the drive for survival in a crisis stimulates the inventive use of ordinary resources that might otherwise be ignored or discarded. The paper highlights strategies employed by the Hiram S. Walters Resource Centre, considerations of what can be developed and improved for the future, and includes recommendations for successfully navigating a public health crisis. Overall, this paper provides insights and practical solutions in responding to a global health crisis that may be helpful at other libraries in similar circumstances. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine Nigeria's dynamic output and output volatility connectedness with USA, China and India using quarterly data from 1981Q1 to 2019Q4. Design/methodology/approach: The study adopted the network approach of Diebold and Yilmaz (2014) and used the normalized generalized forecast error variance decomposition from an underlying vector error correction model to build connectedness measures. Findings: The findings show that the global financial crisis (GFC) increased the connectedness index far more than the 2016 Nigeria economic recession. The moderate effect of the 2016 Nigeria economic recession on the connectedness index underscores the fact that Nigeria is a small, open economy with minimal capacity to spread output shock. For both real output and its volatility, the total connectedness index rose smoothly and systematically through time, thereby leaving the economies more connected in the long run. Originality/value: To the best of the authors' knowledge, this paper is among the first to examine Nigeria's dynamic output and output volatility connectedness with the USA, China and India using new empirical insights from the GFC versus 2016 Nigerian recession. The study, therefore, concludes that the Nigerian economy should be diversified immediately as a hedge against future real output shocks, while the USA, China and India should maintain and sustain their current policy frameworks to remain less vulnerable to real output shocks. [ABSTRACT FROM AUTHOR]

This paper aims to explore whether the development of competitive computer gaming (eSports) industries is sustained in China. In doing so, we apply the Generalized Supremum Augmented Dickey-Fuller (GSADF) method to investigate when the bubbles originated and crashed in the Chinese eSports market from 2014 to 2021. Utilizing the data of the Chinese Electronic Sports Thematic Index (CESI), the empirical outcomes show that the Chinese eSports industry may deviate from its market value and that the industry witnesses bubble behaviors. The latent reasons might be attributed to government policies, economic growth, stock market crises, and venture capital investments. Therefore, to promote the stabilized and sustained development of the eSports industry in China, regulators and authorities should pay attention to the evolution of bubbles. Moreover, maintaining policy consistency and continuity may be beneficial in stabilizing investors' expectations and reducing speculative investment behaviors. [ABSTRACT FROM AUTHOR]

The author shows how companies in the real sector of the economy carry out their investment activities, especially how they invest in long-term assets, in terms of both investment dynamics and investment financing, with an emphasis on strategic investments. In the theoretical part of the paper, the author presents certain laws that apply in the field of investment activity, addressing the issue of the intensity of the investment activity of companies over time and the issue of providing the necessary financial resources for the implementation of strategic investments. In the empirical part of the paper, on a sample of Slovenian large and medium-sized companies from the real sector of the economy, the investment activity of companies in the period 2010–2017, i.e. after the great financial crisis and economic recession, is shown. This is done through the prism of various factors and their effects on investment ability. The author puts forward several research hypotheses (6), which he fully confirms. [ABSTRACT FROM AUTHOR]

Significant price spikes occurred as early as 2021, initially driven by low gas storage levels, a post-pandemic economic rebound and then exacerbated by the Russian invasion of Ukraine. The situation had a range of wide-ranging consequences, from rising inflation, increasing energy poverty, food insecurity, business bankruptcies and recession. A well-known tool to protect energy consumers from energy price spikes, while at the same time contributing to the development of sustainable technologies, is Power Purchase Agreements. PPAs are long-term bilateral contracts for the purchase and sale of a certain amount of electricity, usually generated from renewable sources. The primary goal of this paper is to assess how the risk associated with PPAs has evolved between 2020 and 2023. It aims to examine whether, after the events in 2022, PPAs remain a robust solution that protects the off-taker from energy price spikes, ensures greater energy budget stability and enables savings. To achieve this, the probability of PPA prices being higher than market prices is evaluated, considering the changing market landscape. Furthermore, this paper intends to gain a thorough understanding of each risk related to PPAs and the best strategies for mitigating it, to maximize the protection of the off-taker. [ABSTRACT FROM AUTHOR]

The paper examines whether certain macrofinancial indicators can be used for early detection of recessions. Analysing a sample of small open economies from Central and Eastern European Union, we first identify the most important indicators used for early detection of recessions, and then test the validity of the selection by using the signal method and multivariate probit regressions. Our results imply that the most effective predictors of upcoming recessions are the slope of the yield curve, current account balance to GDP ratio, real estate price index, self-financing ratio of commercial banks, nominal effective exchange rate, global exports and LIBOR rate. Using the Mann-Whitney U Test, we also find that foreign indicators emit earlier signals of incoming recessions in analysed countries than domestic ones. This type of research is important because of the various stakeholders that base their decisions on the signals provided by these indicators. Primarily, these are various government agencies that participate in monetary and fiscal policy making. Early warning of an impending recession allows economic policy makers to take corrective action to avoid a recession or to significantly mitigate its effects, while unreliable indicators may lead to adoption of unnecessary measures with adverse effects on the economy. [ABSTRACT FROM AUTHOR]

Purpose: In this paper, the author aims to investigate the relationship between economic growth and unemployment in six Arab countries from Middle East and North Africa (MENA) zone including Tunisia, Egypt, Morocco, Lebanon, Jordan and Oman through the implementation of Okun's law using quarterly dataset covering the time period 2000: 1–2014: 4. Design/methodology/approach: In this paper, static and dynamic linear and nonlinear models are used to test the linkage between cyclical unemployment and cyclical growth rate. Findings: The empirical results from considered models confirm an inverse linkage between unemployment rate and economic growth, as the Okun's law suggests (except for Oman). In a nonlinear autoregressive dynamic linear (NARDL) framework and gap specification, statistically significant Okun's coefficients indicate that output growth can be translated into employment gains. Absolute effect of an economic contraction is significantly larger than that of an expansion in Tunisia, Egypt, Morocco and Lebanon. The opposite is true for Jordan and Oman. Practical implications: Empirical finding provides then an additional proof that Okun's law could exist in a developing countries such as Tunisia, Egypt, Morocco, Lebanon and Jordan. Hence, any attempt to increase gross domestic product (GDP) through some economic fiscal and/or monetary policies in these countries would reduce unemployment rate. Originality/value: Based on asymmetric specification, the author can conclude with precision that an economic upturn of 3.37, 2.98 and 2.5%, respectively, in Tunisia, Morocco and Egypt reduces unemployment by 1%, whilst the downturn of 5.03 and 2.43% (and about 12%), respectively, in Tunisia and Morocco (and Lebanon and Jordan) achieves the opposite. [ABSTRACT FROM AUTHOR]

This paper empirically tests the incentive effect of fiscal policy on corporate innovation from 2007 to 2019 in China. With data from A-share-listed companies in the China Stock Market & Accounting Research (CSMAR) and Wind databases and GDP data from the National Bureau of Statistics of China (NBSC), the paper uses the Hodrick – Prescott (HP) filter method and a panel fixed effects model to empirically test the incentive effect of fiscal and tax policies on corporate innovation, compares the incentive differences between tax incentives and fiscal subsidies across different business cycles, and conducts heterogeneity analysis. The study finds that although fiscal subsidies and tax incentives promote enterprise innovation, the innovation incentive effect of fiscal subsidies is greater during an economic downturn than during an upturn. In contrast, tax incentives are stronger during an economic upturn than during a downturn. The results of this research may help to develop economic policies and to guide the precise implementation of tax and fee reductions. [ABSTRACT FROM AUTHOR]

This paper examines the relative influence of the volatilities of Chinese and American trade with Africa, by exploring the volatilities, their comovements, and four potential international drivers that can increase or decrease the volatilities. The drivers considered are Euro Area's trade with Africa; U.S. recessions; economic globalization; and fluctuations in China's economy. The paper employs the dynamic conditional correlation (DCC-) generalized autoregressive conditional heteroscedasticity (GARCH) model and monthly data spanning 1970M1 to 2020M07. The results show that, without controlling for drivers, the volatilities of Chinese and American trade with Africa are quite high, with similar magnitudes and significant comovements. When drivers are controlled for, Euro Area's trade does not influence the volatilities significantly. However, America's recessions make Chinese trade volatility to become higher, while economic globalization makes it to become lower, relative to America's trade volatility. These results imply that Chinese trade volatility is more influential than America's trade volatility, due to two international drivers. Furthermore, fluctuations in China's economy significantly influence the trade volatility of China itself and the trade volatility of the bigger economy, the U.S., which confirms China's significant international influence. One of the key policy implications of these findings is that globalization does not necessarily increase trade volatility in all contexts. This paper provides new evidence that in the context of a single trade market, globalization is an antidote of trade volatility because it involves the availability of diverse markets across the global economy, which consequently reduces the panic of traders within the single market. [ABSTRACT FROM AUTHOR]

This paper investigates the employment effects of innovation over the business cycle with a large data set of manufacturing firms from 26 European countries from 1998 to 2014. The paper reveals four important findings: First, the net employment effect of product innovation is pro-cyclical and positive except in recessions. Second, product innovators are more resilient in recessions than non-product innovators because they are able to substitute demand losses in old products with new products. As a result, the net employment losses of product innovators are significantly lower in recessions than those of non-product innovators. Third, we find resilience only among small and medium-sized enterprises (SMEs), but not among large firms. Fourth, process and organizational innovations displace labor primarily during upturn and downturn periods. [ABSTRACT FROM AUTHOR]

This article explores the presidency of Douglas Fraser, who led the United Automobile Workers, America's largest industrial union, from 1977–83. Unlike long-serving leader Walter Reuther, Fraser has received little scholarly attention, yet he headed the union at a decisive time. Between 1979 and 1983, the industry experienced a severe economic downturn, setting the stage for long-term decline. By 1982, over one-third of U.S. autoworkers were jobless. In these years, the union also approved its first contracts containing concessions, giving up $4 billion overall. In following decades, givebacks were common. This article argues that the Fraser era was a crucial one, for both the UAW and American workers broadly, whose post-1980 experience was framed by declining union density and increased economic insecurity. The first account to use detailed archival records of Fraser's presidency, including personal correspondence, UAW executive board minutes, and inter-union files, it uncovers how the union's fortunes changed dramatically during six decisive years. In many respects these years represented a turning point, straddling the era of bargaining gains – which occurred under Reuther and initially under Fraser – through to the concessions and layoffs of the early 1980s. This was, Fraser concluded, "the most troubled time in our history." [ABSTRACT FROM AUTHOR]

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The economic recession caused by the restrictions on the spread of the Coronavirus disrupted the economic life of many countries. The primary purpose of the paper is to measure the impacts of intra-regional trade and investment on the green recovery of five Central Asian economies over 2010–2021 through employing annual data and the panel co-integration approach. The results confirmed that the degree of green trade openness positively and significantly affects the green recovery. The estimated coefficient of direct foreign investment is negative. The patent coefficient is not statistically significant, and the official exchange rate has a positive effect. Financial development has a positive and significant coefficient. The paper has several policy implications, such as enhancing green FDI (Foreign Direct Investment), supporting green innovation, and promoting green trade liberalism for scholars and policymakers. [ABSTRACT FROM AUTHOR]

Bullion van robbery attacks have emerged as a significant security threat in Ghana in recent years. They pose grave consequences for national security and social, political, and economic stability. This paper provides an overview of Ghana's rising bullion van robbery attacks. In the paper, realism theory is used to portray the rate of bullion van robberies and their daringness. The subsequent analysis illuminates the factors contributing to the rise of these attacks, including the current economic downturn, socioeconomic problems, and corruption complicity. It explores the potential involvement of organised crime syndicates. The paper recommends a multifaceted approach involving enhanced collaboration between security agencies. It also involves stringent regulation and oversight of cash transportation, technological innovations in security systems, and improved training for law enforcement personnel. Additionally, it emphasises the importance of public awareness campaigns and citizen engagement to foster a collective response to combat bullion van robberies. The paper concludes that the rising trend of bullion van robbery attacks in Ghana requires immediate attention from both the government and the private sector. A comprehensive strategy encompassing preventative measures, swift response mechanisms, and robust law enforcement efforts is imperative to mitigate the risks posed by these attacks. This will safeguard the nation's security and socioeconomic stability. [ABSTRACT FROM AUTHOR]

The economic downturn that began in Nigeria in the early 1980s worsened from the mid-1980s due to the implementation of the Structural Adjustment Programme (SAP). This resulted in widespread social and economic disruption, especially for the poor who comprise most of the population. One response among youth has been to migrate abroad in search of better opportunities, despite stricter entry requirements in Europe and the United States. This paper examines the desperation behind Nigerian youths' attempts to leave the country for better lives in the Middle East, Europe, or the United States. It also explores the social protection programmes now available in Nigeria that are meant to address unemployment, poverty, and deter youths from desperately migrating. The paper argues that the misinformed decision to embark on the continuing dangerous Mediterranean Sea crossings, resulting in loss of life, has become a national disgrace. It calls for a review of social protection policies and programmes to halt the flow of youths in dire need of assistance. The analysis is framed by Everett S. Lee's Push and Pull Theory of Migration and Michael J. Piore's Dual Labor Market Theory. While formal sector workers in Nigeria have long enjoyed social safety nets like pensions, informal sector workers lack access to sustainable, well-funded social protection programs. Existing initiatives are often emergency-based, ad-hoc, neglected and changed with each administration. Intended beneficiaries lose faith in the system. This contrasts sharply with robust regimes in more technologically-advanced countries. [ABSTRACT FROM AUTHOR]

Machine learning (ML), a transformational technology, has been successfully applied to forecasting events down the road. This paper demonstrates that supervised ML techniques can be used in recession and stock market crash (more than 20% drawdown) forecasting. After learning from strictly past monthly data, ML algorithms detected the Covid-19 recession by December 2019, six months before the official NBER announcement. Moreover, ML algorithms foresaw the March 2020 S&P500 crash two months before it happened. The current labor market and housing are harbingers of a future U.S. recession (in 3 months). Financial factors have a bigger role to play in stock market crashes than economic factors. The labor market appears as a top-two feature in predicting both recessions and crashes. ML algorithms detect that the U.S. exited recession before December 2020, even though the official NBER announcement has not yet been made. They also do not anticipate a U.S. stock market crash before March 2021. ML methods have three times higher false discovery rates of recessions compared to crashes. [ABSTRACT FROM AUTHOR]

This paper provides a novel dataset of time-varying measures on the degree of countercyclicality of fiscal policies for advanced and developing economies between 1980 and 2021. The use of time-varying measures of fiscal stabilization, with special attention to potential endogeneity issues, overcomes the major limitation of previous studies and allows the analysis to account for both country-specific as well as global factors. The paper also examines the key determinants of countercyclicality of fiscal policy with a focus on factors as severe crises, informality, financial development and governance. Empirical results show that (i) fiscal policy tends to be more countercyclical during severe crises than typical recessions, especially for advanced economies; (ii) fiscal countercyclicality has increased over time for many economies over the last two decades; (iii) discretionary and automatic countercyclicality are both strong in advanced economies but acyclical (at times procyclical) in low-income countries; (iv) fiscal countercyclicality operates primarily through the expenditure channel, particularly for social benefits; and (v) better financial development, larger government size and stronger institutional quality are associated with larger countercyclical effects of fiscal policy. Our results are robust to various specifications and endogeneity checks. [ABSTRACT FROM AUTHOR]

In today's global economy, transitioning from industry to academia is popular. Professionals from the corporate sector contribute priceless insights that enhance students' educational experiences. However, this change was not without difficulties. Understanding the goals, experiences, and challenges moving professionals face is essential to ensuring a smooth transition and maximizing their contributions to business education. A qualitative investigation in Cebu, Philippines, explores people's motivations, encounters, and perceived difficulties when making this shift. This study demonstrates how the move from industry to academics guarantees that course material will always be relevant to the changing needs of the business sector. Numerous elements, including andragogical knowledge acquisition, coworker support, and economic issues, impact the process. Giving transitioning professionals the necessary tools and assistance requires a sophisticated grasp of these factors. Furthermore, retiring and going into academia is advantageous since it provides chances to stay involved and accomplish goals related to lifetime learning and service. Furthermore, even in the face of external shocks and economic downturns, academia offers stability and opportunities for career transition. This paper clarifies the challenges of moving from business to academics, especially in the Cebu environment. Organizations and governments can use these insights to create customized programs supporting transferring professionals and promoting strong industry-academia engagement. This will allow them to exploit new opportunities and harness associated advantages. [ABSTRACT FROM AUTHOR]

Background: Evidence suggests that financial crises and poor mental health are reciprocally related, but no systematic review has been conducted to synthesise the existing literature on the impact of national and international financial crises on population-level mental health and well-being. Aims: The aim of this study was to systematically review the available literature on the global impact of financial crises on mental health and well-being outcomes. Methods: After registration on PROSPERO, a systematic search was conducted in PsycINFO, MEDLINE, Wiley, and Web of Science for papers published until 21 November 2022. Following the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) statement, 98 papers were identified as meeting eligibility criteria. Included studies were assessed using the Mixed Methods Appraisal Tool (MMAT) and results were presented in a formal narrative synthesis. Results: Our findings show that financial crises are significantly associated with well-being and occurrence of psychological conditions. Several socio-demographic, cultural, and country-specific characteristics played a crucial role in the prevention of population mental health decline in periods of financial crises. Conclusions: Based on the findings of this review, evidence-based recommendations were developed to guide the design of policy actions that protect population mental health during and after financial crises. [ABSTRACT FROM AUTHOR]

The aim of this paper is to analyse the evolution of Spanish households' indebtedness and financial vulnerability over the course of this century using micro-data from the Household Finance and Consumption Survey. Our results show a growing debt participation of Spanish households and an increase in the stock of outstanding debt of indebted households, a trend that reversed with the end of the Great Recession. Moreover, the percentage of financially vulnerable households according to three indicators grew dramatically until the end of the downward phase of the last economic cycle and showed considerable signs of improvement during the second half of 2010s. These results, nonetheless, call attention to the number of Spanish households being unable to service their debts in the face of an economic downturn. [ABSTRACT FROM AUTHOR]

The advancement of the logistics industry has fostered the enhancement of operational efficacy within the socioeconomic domain. However, the current inevitable privacy leaks in the process of logistics transportation have seriously affected the development of the industry, which led to a crisis of consumer trust and even caused economic recession. This paper proposes a self-sovereign identity privacy protection scheme tailored specifically for logistics transportation contexts. First, the scheme entails furnishing users with one-time-use tokens while establishing decentralized identities capable of concealing identity information and ensuring the secure transmission of data. Furthermore, the scheme integrates fuzzy identity-based encryption to encrypt identity information, thereby guaranteeing the confidentiality and integrity of logistics user identities along with their associated data. Compared with other schemes, this scheme exhibits superior security in the realm of logistics transportation. Its targeted encryption technology and self-sovereignty strategies address the critical issue of privacy leakage, thereby safeguarding consumer privacy rights and interests while facilitating the sustainable development of the logistics industry. [ABSTRACT FROM AUTHOR]

A resilient economy is a strong base for large volume of trade as it provides a perfect solution to poverty. Synthesis of Yoruba textiles and modern technology for resilient economy in this turbulent era is the concern of this paper. It highlights how Yoruba indigenous textiles are face lifted by modern technology to eradicate economic downturn. The paper gives insight to improvement on the production of Yoruba textiles therefore giving opportunity of job creation and self-reliance through the fusion. The huge tragedy of the Nigerian experience hinges on the downturn of economy which is at its peak of crashing. Most Nigerian are not believing that indigenous textile contents can increase drastically the income of the nation if facelifted or rebranded. The high rate at which naira is depreciating is very alarming at present ($1USD = ₦ 1440) being because of fluctuation now. The paper projects a way out of economic turbulence with the synthesis of Yoruba textiles and modern technology by building a resilient economy. The paper further discusses the new orientation and training involved; raw materials used, computer knowledge, recommendations, and conclusion. [ABSTRACT FROM AUTHOR]

Purpose: With the global economic slowdown in 2023, most universities in the central and western regions of China may face the problem of shortage of government financial funding, which is directly related to the development of science and technology of the universities. With the support of the local government, most of the ordinary universities have shifted attention to the transfer and transformation of intellectual property based on school-enterprise cooperation, hoping to seek more commercialization income as an extra source of income. Therefore, this paper aimed to study the current situation of university intellectual property, i.e. the reserve and distribution of transferable patents, discipline distribution of patents, and regional cooperation of university patents. Design/methodology/approach: A patent database of 10 key universities in Henan Province of China from 2012 to 2021 was established. The evaluation indicator model by the Entropy method was conducted to reveal the interaction mechanism between quantity indicators, quality indicators, and value indicators. Based on the data analysis, the development direction of the discipline construction and school-enterprise cooperation for local universities was clear. Findings: The findings indicated that the number of patent applications from ten key universities in Henan Province has been increasing rapidly over the years. The trend for authorized invention patents has remained relatively stable. Compared with the patent applications and authorizations, the growth of transferable patents was notably slow. The significance of strategic layout of dominant disciplines and related high-value patents was not appreciated enough by Chinese government and universities. There was a large difference of dominant disciplines between 10 key universities, and the patent level of each university was directly proportional to the number of dominant disciplines. The university patent level heavily relied on the researchers' contributions and the distribution mechanism of scientific research resources within the university. Guangdong Province and the Yangtze River Delta of China, being economically developed regions, exhibited the most active engagement in patent technology cooperation. Conversely, the central and western regions displayed relatively lower participation in high-value patent research and development. Research limitations/implications: This study can provide a unique perspective to understand and solve the financial bottleneck problem of ordinary universities in the central and western regions of China. The discipline construction and school-enterprise cooperation are just one of the existing schemes, but it still cannot solve the financial problems faced by local universities in China towards the government. Practical implications: The findings of this study can serve as a foundation for further investigation into policies aimed at improving the financial problems of ordinary universities in the central and western regions of China. Originality/value: As an important attempt, the study tried to focus the financial problem of universities in the central and western regions of China based on the evaluation of the current situation of university intellectual property. This research findings are of great value in finding optimal layout between university patents, disciplines and school-enterprise cooperation. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development.Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development.Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.”Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy.Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career.Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap. [ABSTRACT FROM AUTHOR]

As the country of Lebanon sinks deeper into economic turmoil and healthcare devastation, period poverty has been recorded to reach its all-time high, whereby it was estimated that 66% of adolescent Lebanese girls cannot afford menstrual products to manage their menstrual cycle. The following descriptive paper aims to discuss the overall situation of period poverty in Lebanon, particularly during the economic crisis that hit the country and that coincided with the start of the COVID-19 pandemic. It will then highlight nongovernmental organization initiatives and community-based partnerships that have been carried out with the goal of alleviating the significant physical, mental, and socioeconomic impact of period poverty on Lebanese girls and women. Finally, this paper will provide socioeconomic and policy recommendations to accomplish and sustain positive menstruation outcomes in Lebanon. This paper is necessary as it highlights the humanitarian impact of such an important women's rights issue in Lebanon. It helps fill a gap in the literature because limited data are available on the status of period poverty in the country to raise awareness and take action. [ABSTRACT FROM AUTHOR]

The Great Recession of 2007-09, including its instigating Global Financial Crisis, inspired a collection of novels that utilize the crisis events and recession conditions in their plots and narrative. This article examines popular emotions and feelings circulating within Great Recession fiction. While anxiety and anger are arguably the emotions of the capitalist continuum, the post-crisis recession manifested a unique atmosphere due to the particularities of its historical moment: neoliberal austerity against a specific myriad of intersecting insecurities in a digital era in which anxiety-inducing spectacles go "viral" on social media and where post-9/11 police states have resulted in declining civil liberties including with regard to protest. Drawing on Raymond Williams' conceptualization of structure of feeling, this paper argues that anger and indignation; fear and anxiety; melancholia, defeatism and hopelessness are popular emotions and feelings within Great Recession fiction. Great Recession novels articulate the emotional effects of neoliberalism yet, as a collection, contain a stunning lack of radical imagination. This paper argues, ultimately, that the structure of feeling detectable in Great Recession fiction gives affective expression to what Mark Fisher calls reflexive impotence — the disaffected state of knowing things are bad but not being able to do anything about it. [ABSTRACT FROM AUTHOR]

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This paper investigates how housing prices respond to economic, financial and demographic conditions in emerging markets in Europe. We use quarterly data covering 10 countries over the period 1998–2022 and implement a panel quantile regression approach to obtain a granular analysis of real estate markets. Overall, economic, financial and demographic developments explain real house price growth in emerging Europe, with income growth having the most significant impact. Quantile regression estimations show that income growth matters more for higher quantiles of the property market. We also find that an increase in short-term or long-term interest rates has a price-dampening impact, indicating that a higher cost of borrowing is associated with lower real house price growth. These results indicate that the downturn in house prices could deepen with the looming economic recession and soaring interest rates. [ABSTRACT FROM AUTHOR]

To understand the determinants of financial crises, previous research focused on developments closely related to financial markets. In contrast, this paper considers changes originating in the real economy as drivers of financial instability. To this end, I assemble a novel data set of long‐run measures of income inequality, productivity, and other macrofinancial indicators for advanced economies. I find that rising top income inequality and low productivity growth are robust predictors of crises, and their slow‐moving trend components largely explain these relations. Moreover, recessions that are preceded by such developments are deeper than recessions without such ex ante trends. [ABSTRACT FROM AUTHOR]

Financial leverage volatility is a significant factor contributing to the formation of systemic financial risk, which is more apparent in China's fast‐growing fintech (financial technology) field. Using the Conditional Value‐at‐risk approach (ΔCoVaR) risk metric, the generalized autoregressive conditional heteroskedasticity (Structural Vector Autoregression with Stochastic Volatility model [SV‐TVP‐SAVR]) model, and the generalized forecast error variance decomposition (Tvpdy) model, this paper discusses how financial leverage volatility shocks fintech sectoral risks and the evolution of the risk within fintech under the shocks on the basis of the classification criteria of the Chinese fintech enterprise database and daily trading data of A‐share listed companies. The statistical results show that financial leverage volatility causes risk changes across fintech sectors, which is especially significant during economic downturns or government interventions. Also, under the shock of financial leverage volatility, the fintech sectors will absorb or diffuse risks outward through spillover channels, with significant differences in the risk spillover conditions of different types of sectors. Finally, the fintech sector can produce a contagion system with the Internet consumer finance, payment, and Internet microcommercial credit sectors as the core of risks, resulting in a systemic risk crisis. Our findings have major implications for Chinese regulators to balance financial leverage and prevent systemic risks in the fintech sector. [ABSTRACT FROM AUTHOR]

The outbreak of the COVID-19 pandemic and the related economic downturn have impacted retirement savings, retirement saving schemes, providers, regulators and supervisors, potentially leading to future lower incomes during retirement and significant dysfunctions in the market. The main goal of this paper is to investigate how key indicators of the voluntary pension funds market in the Republic of Serbia were influenced by the Pandemic. The Pandemic certainly had an important effect, and we all had the opportunity to learn first-hand that low frequency high severity events do happen, so they are not only scenarios for a tabletop exercise for something that we should expect but something we need to be prepared for. This goal will be achieved using secondary data such as the data offered by the National Bank of Serbia, OECD Directorate for Financial and Enterprise Affairs, etc. Finally, this paper will present a comparative analysis of the effects of the pandemic on the market of voluntary pension funds in the Republic of Serbia and OECD member countries. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of recent recessions on the origins of productivity growth. We show how business cycles affect productivity growth, with particular attention for the impact of job reallocation and labor hoarding. We find evidence that recessions induce productivity enhancing job reallocation in manufacturing but not in services industries and show that labor hoarding mitigates this cleansing effect of recessions. Furthermore, we show how entry and exit of firms and industry dynamics shape the evolution of aggregate productivity. Plain English Summary: During recessions, governments support firms via temporary unemployment programs to save jobs. A side effect is that job reallocation and exit of low-productive firms can be distorted, while such cleansing effects typically spur productivity growth. This paper investigates how recessions affect productivity growth, with particular attention for the impact of job reallocation and labor hoarding. We find evidence that recessions induce productivity enhancing job reallocation in manufacturing but not in services industries and show that labor hoarding mitigates this cleansing effect of recessions. Furthermore, we show how entry and exit of firms and industry dynamics shape the evolution of aggregate productivity. As many developed economies struggle with a slowdown in productivity growth, it is important that policy makers understand the impact of recessions on the micro origins of productivity growth and are aware of how temporary policies during recessions could affect long-term productivity growth. [ABSTRACT FROM AUTHOR]