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Article
Publication date: 24 February 2021

Nicolas Reigl and Lenno Uusküla

This paper aims to complement to standard Basel countercyclical capital buffer framework by suggesting additional measures for credit gaps that can be used to measure the…

Abstract

Purpose

This paper aims to complement to standard Basel countercyclical capital buffer framework by suggesting additional measures for credit gaps that can be used to measure the financial cycle and to decide on countercyclical capital buffers for banks.

Design/methodology/approach

The paper concentrates on European Union countries with the data starting from 1970. The authors check whether the newly suggested buffers are in place and sizable before financial distress periods.

Findings

The new measures are: the change in the credit-to-GDP ratio over two years; the growth in credit compared to the eight-year moving average of growth in nominal GDP over two years; the growth in credit compared to annual nominal growth of 5% over two years; and growth in credit relative to the nominal GDP trend value over two years. They behave similarly to the gaps calculated with the standard Basel one-sided Hodrick–Prescott filter in long samples.

Originality/value

The main contribution of the paper is to suggest new alternative measures of credit cycles that can be used in short samples and in case of structural breaks. New measures correlate well with actual countercyclical capital buffers in place in 2018.

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Article
Publication date: 6 January 2021

Muhammad Mushafiq and Tayyebah Sehar

The purpose of this study is to find the empirical causal relationship between Islamic bank term deposit rates (IBTDR) and conventional bank term deposit rates (CBTDR) in…

Abstract

Purpose

The purpose of this study is to find the empirical causal relationship between Islamic bank term deposit rates (IBTDR) and conventional bank term deposit rates (CBTDR) in the short-term.

Design/methodology/approach

This study analyzes the short-term causal relationship between the term deposit rates (TDRs) for the time period of three years 2015 to 2018 on monthly data of IBTDR and CBTDR. Granger causality test, variance decomposition and impulse response function are applied to examine if there is any short-term causal relationship between the IBTDR and CBTDR.

Findings

This empirical study establishes that the IBTDR are dependent on the CBTDR in the short-term.

Practical implications

This research provides an insight for the customers of TDRs of the Islamic banking system. This study is not only a significant insight for the end-users but also for the regulators and researchers as it provides important empirical evidence. This could lead to further research on the reasons for causality.

Originality/value

There has not been any study of this nature in Pakistan to identify the causality of the two-TDRs. This research expands the dynamics of research in the context of the banking sector.

Details

Asian Journal of Economics and Banking, vol. 5 no. 1
Type: Research Article
ISSN: 2615-9821

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Article
Publication date: 5 May 2020

Jose Eduardo Gomez-Gonzalez, Ali Kutan, Jair N. Ojeda-Joya and Camila Ortiz

This paper tests the impact of the financial structure of banks on the bank lending channel of monetary policy transmission in Colombia.

Abstract

Purpose

This paper tests the impact of the financial structure of banks on the bank lending channel of monetary policy transmission in Colombia.

Design/methodology/approach

We use a monthly panel of 51 commercial banks for the period 1996:4–2014:8.

Findings

An increase in the monetary policy interest rate significantly reduces bank loan growth. The magnitude of this effect depends on banks’ financial structure. Additionally, we identify an asymmetric effect in which the bank lending channel is stronger in monetary contractions than during expansions. We show that this behavior is due to the heterogeneous response of banks with different levels of solvency. This finding has important implications for the design and implementation of monetary policy and coordination of central bank’s policy with key economic agents.

Practical implications

The fact that the BLC is stronger in times of monetary contraction is quite interesting for central banking, as it shows that monetary policy transmission is harder during macroeconomic downturns. When investment plans are depressed, monetary stimulus may prove insufficient to reactivate credit demand. This has proven to be true in advanced economies after a strong recession and our results suggest that is also true in emerging market economies for economic downturns in general. Central banks may have to provide stronger shocks to reactivate private credit when the economy is facing a slow economic recovery.

Originality/value

Our findings point out that an increase in the monetary policy interest rate significantly reduces bank loan growth. However, the magnitude of this effect critically depends on two aspects. First, bank heterogeneity matters. Particularly, the loan supply of better capitalized banks is less sensitive to monetary policy shocks. Second, the response of credit supply to shifts in short-term interest rates critically depends on the monetary policy stance. The BLC is stronger in times of monetary contraction than during expansions. Moreover, we show that this asymmetric behavior is due to the heterogeneous response of banks with different levels of solvency to the monetary policy stance.

Details

International Journal of Emerging Markets, vol. 16 no. 4
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 9 October 2019

Nur Dyah Nastiti and Rahmatina Awaliah Kasri

The 2015 global economic crisis has triggered the issuance of several banking regulations in Indonesia, including those related to temporary stimulus for Islamic banks and…

Abstract

Purpose

The 2015 global economic crisis has triggered the issuance of several banking regulations in Indonesia, including those related to temporary stimulus for Islamic banks and branchless banking (fintech). However, few studies attempt to evaluate the effectiveness of such regulations. Thus, this study aims to determine the role and assess the effectiveness of such banking regulations.

Design/methodology/approach

The data used cover all 12 Islamic commercial banks in Indonesia during the stimulus period of Q3.2015 to Q2.2017. The variables included were banks’ fundamental factors (Islamic financing, capital adequacy ratio, investment, non-performing financing, return on asset, efficiency, financing deposit ratio and fintech) and macroeconomic variables (inflation, exchange rate and money supply). The model was analyzed by using multiple linear regressions with generalized least square estimation technique.

Findings

The main finding suggests that the stimulus regulation indeed played a positive role in the acceleration of Islamic bank financing. However, the fintech-related regulation was not yet effective to achieve the goal, at least in the short term. Furthermore, the study found that return of assets, operational efficiency, financing deposit ratio and money supply also influenced Islamic financing.

Practical implications

For policymakers, the effectiveness of the temporary stimulus in accelerating Islamic banking financing and preventing the possible negative impacts of the external crisis provides indications that the regulator could conduct similar policy in the future. More generally, the findings are also expected to enrich Islamic banking literature.

Originality/value

This is possibly one of the few studies to investigate the role and effectiveness of banking regulations on Islamic banking financing in Indonesia.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 12 no. 5
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 4 November 2014

Simplice A. Asongu

The purpose of this paper is to examine the effects of monetary policy on economic activity using a plethora of hitherto unemployed financial dynamics in inflation-chaotic…

Abstract

Purpose

The purpose of this paper is to examine the effects of monetary policy on economic activity using a plethora of hitherto unemployed financial dynamics in inflation-chaotic African countries for the period of 1987-2010.Although in developed economies, changes in monetary policy affect real economic activity in the short-run, but only prices in the long-run, the question of whether these tendencies apply to developing countries remains open to debate.

Design/methodology/approach

Vector autoregresion (VARs) within the frameworks of Vector Error Correction Models and simple Granger causality models are used to estimate the long- and short-run effects, respectively. A battery of robustness checks are also used to ensure consistency in the specifications and results.

Findings

The tested hypotheses are valid under monetary policy independence and dependence, except few exceptions. H1: Monetary policy variables affect prices in the long-run but not in the short-run. For the first-half (long-run dimension) of the hypothesis, permanent changes in monetary policy variables (depth, efficiency, activity and size) affect permanent variations in prices in the long-term. But in cases of disequilibriums, only financial dynamic fundamentals of depth and size significantly adjust inflation to the cointegration relations. With respect to the second-half (short-run view) of the hypothesis, monetary policy does not overwhelmingly affect prices in the short-term. Hence, but for a thin exception, H1 is valid. H2: Monetary policy variables influence output in the short-term but not in the long-term. With regard to the short-term dimension of the hypothesis, only financial dynamics of depth and size affect real gross domestic product output in the short-run. As concerns the long-run dimension, the neutrality of monetary policy has been confirmed. Hence, the hypothesis is also broadly valid.

Practical implications

A wide range of policy implications are discussed. Inter alia: the long-run neutrality of money and business cycles, credit expansions and inflationary tendencies, inflation targeting and monetary policy independence implications. Country-/regional-specific implications, the manner in which the findings reconcile the ongoing debate, measures for fighting surplus liquidity and caveats and future research directions are also discussed.

Originality/value

By using a plethora of hitherto unemployed financial dynamics (that broadly reflect monetary policy), we provide significant contributions to the empirics of money. The conclusion of the analysis is a valuable contribution to the scholarly and policy debate on how money matters as an instrument of economic activity in developing countries.

Details

Indian Growth and Development Review, vol. 7 no. 2
Type: Research Article
ISSN: 1753-8254

Keywords

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Book part
Publication date: 29 June 2017

Amy Jonason

As a movement for alternative means of food production and consumption has grown, so, too, have civic efforts to make alternative food accessible to low-income persons…

Abstract

Purpose

As a movement for alternative means of food production and consumption has grown, so, too, have civic efforts to make alternative food accessible to low-income persons (LIPs). This article examines the impact of alternative food institutions (AFIs) on low-income communities in the United States and Canada, focusing on research published since 2008.

Methodology/approach

Through a three-stage literature search, I created a database of 110 articles that make empirical or theoretical contributions to scholarly knowledge on the relationship of AFIs to low-income communities in North America. I used an in vivo coding scheme to categorize the impacts that AFIs have on LIPs and to identify predominant barriers to LIPs’ engagement with AFIs.

Findings

The impacts of AFIs span seven outcome categories: food consumption, food access and security, food skills, economic, other health, civic, and neighborhood. Economic, social and cultural barriers impede LIPs’ engagement with AFIs. AFIs can promote positive health outcomes for low-income persons when they meet criteria for affordability, convenience and inclusivity.

Implications

This review exposes productive avenues of dialogue between health scholars and medical sociology and geography/environmental sociology. Health scholarship offers empirical support for consumer-focused solutions. Conversely, by constructively critiquing the neoliberal underpinnings of AFIs’ discourse and structure, geographers and sociologists supply health scholars with a language that may enable more systemic interventions.

Originality/value

This article is the first to synthesize research on five categories of alternative food institutions (farmers’ markets, CSAs, community gardens, urban farms, and food cooperatives) across disciplinary boundaries.

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Book part
Publication date: 12 November 2018

Nidhi Vij Mali

Information communication technologies can serve as a crucial missing link toward tacking wicked problems of social welfare policy implementation through collaborative…

Abstract

Information communication technologies can serve as a crucial missing link toward tacking wicked problems of social welfare policy implementation through collaborative governance. Using a mixed methods approach, a pre- and postanalyses were used to investigate whether and how cell phones can increase awareness of pregnant women about different cash and service benefits of maternal health benefit policies of 82 pregnant women in a remote tribal community in Melghat forest of Maharashtra, India. Pregnant women received customized prerecorded bilingual audio calls on their mobile phones about maternal health benefit policies. The author then traced whether those audio messages increased the claiming of policy benefits and public engagement. The key contribution of this research is that contrary to the optimism about digital governance, findings suggest that cell phones are not a “silver bullet” for increasing receipt of maternal health benefits. This book chapter concludes with the prescription that the impact of mobile phones and other information technologies will be marginal as long as there are administrative deficiencies in policy implementation and a misalignment in state and federal policy designs.

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Book part
Publication date: 3 September 2015

Shahid Alvi, Steven Downing and Carla Cesaroni

This paper addresses the lack of conceptual and theoretical consensus around cyber-bullying and problems associated with over-reliance on mainstream criminological…

Abstract

Purpose

This paper addresses the lack of conceptual and theoretical consensus around cyber-bullying and problems associated with over-reliance on mainstream criminological thinking to explain this phenomenon.

Methodology/approach

The paper offers a critical criminological perspective on cyber-bullying encouraging scholars to engage with fundamental complications associated with the relationship between late-modernity, neo-liberalism and cyber-bullying. It argues for an approach that contextualizes cyber-bullying within the realities and consequences of late-modernity and neo-liberalism.

Findings

The paper argues that a robust understanding of cyber-bullying entails contextualization of the problem in terms of the realities of consumption, individualism, youth identity formation and incivility in late modern society.

Originality/value

In addition to challenging extant theoretical approaches to cyber-bullying, the paper has important implications for intervention that surpass the limitations of law and order policies which tend to focus on criminalizing poorly understood bad behaviour or indicting internet technologies themselves.

Details

Violence and Crime in the Family: Patterns, Causes, and Consequences
Type: Book
ISBN: 978-1-78560-262-7

Keywords

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Book part
Publication date: 26 November 2020

Cristina Vaz de Almeida and Célia Belim

This chapter focusses on the contribution of health professionals' communication competences to patients. We propose a model of communication to be used in the therapeutic…

Abstract

This chapter focusses on the contribution of health professionals' communication competences to patients. We propose a model of communication to be used in the therapeutic relationship, supported by a literature review. The methodology is qualitative. Four focus groups (FGs) composed of Portuguese health professionals (N = 25), such as medical doctors, nurses and professors in health fields, were conducted during 2017 and 2018. All the participants of FGs validated a three-factor aggregated and interdependent model, which is composed of assertiveness, clear language and positivity (ACP model). The factors reinforce the therapeutic relationship and improve health literacy, thus reinforcing the patient's health and well-being. The argument is that health is wealth, so if the communication can improve health, then this has positive social implications. The study is a response to the lack of consensus in the literature on what specific and operative communication competences the health professional should perform in clinical encounters with the patients, and how these competences can improve, in the final instance, their health and well-being.

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Book part
Publication date: 3 August 2017

Matt Bower

The ability for learners to interact online via their avatars in a 3-D simulation space means that virtual worlds afford a host of educational opportunities not offered by…

Abstract

The ability for learners to interact online via their avatars in a 3-D simulation space means that virtual worlds afford a host of educational opportunities not offered by other learning technology platforms, but their use also raises several pertinent issues that warrant consideration. This chapter reviews the educational use of virtual worlds from a design perspective. Virtual-world definitions are explored, along with their key educational characteristics. Different virtual-world environments are briefly contrasted, including Second Life, Active Worlds, Open Sim, and Minecraft. A wide variety of virtual-world uses in schools and universities are examined so as to understand their versatility. Key educational benefits of virtual worlds are distilled from the literature, such as the ability to facilitate 3-D simulations, role-plays, construction tasks, and immersive learning. Emergent issues surrounding the use of virtual worlds are also analyzed, including cognitive load, safety, and representational fidelity. One higher education and one school level vignette are provided in order to offer more detailed insight into the use of virtual worlds in practice. Recommendations for learning design and implementation are presented, based on the thematic analysis of contemporary virtual-worlds research.

Details

Design of Technology-Enhanced Learning
Type: Book
ISBN: 978-1-78714-183-4

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