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This paper aims to examine the impact of bank regulation and supervision on financial stability. Financial sector reform, especially in developing countries, takes the form of a sudden adjustment in regulation and supervision. The main objective of the paper is to examine whether this fast and sudden adjustment in regulation and supervision has an undesirable impact on financial stability. Furthermore, the paper examines the role of real economic development in determining the impact of financial reform on financial stability.

Empirically, on a sample of 57 developing countries over the period 2000-2013, the author explored the impact of bank regulation and supervision on financial stability for different sub-groups of countries. The division is based on the real level of economic development and, most importantly, on the speed of adjustment in regulation and supervision. The study uses the cross-sectional–ordinary least square model. Each country has three observations (average 2000-2004, average 2005-2008 and average 2009-2013), which are convenient, with the date of the three surveys on regulation and supervision (2002-2006-2011). The period of the averages is selected to cover periods before and after the survey as regulation and supervision may be adopted before the survey and as its impact may persist for the period after.

The major finding of this study is that it supports the important role of the speed of adjustment in regulation and supervision, and its impact on financial stability. Soft adjustment in regulation and supervision has more positive impact on financial stability than fast adjustment. Activity restrictions have positive and significant impact on financial stability in soft adjustment countries’ group. On the other hand, in countries with fast adjustment, results show negative and statistically significant impact on financial stability, especially for supervisory independence. More time is needed for supervisors to adapt to new regulation and supervision and gain expertise to monitor financial condition of banks in a consistent manner. Results also show that the level of economic development is an important factor when testing the impact of regulation and supervision on financial stability. In lower income countries, more room is available for corruption in lending, which has a negative impact on financial stability.

This study advocates the necessity of taking the speed of adjustment in regulation and supervision by policymakers in developing countries, while initiating reform in the financial sector. Financial sector reform that takes the form of a sudden adjustment in regulation and supervision may have undesirable results in terms of financial stability. On the other hand, soft adjustment in regulation and supervision, which gives more room for supervisors to adapt and gain expertise, may have more positive impact on financial stability.

This paper is the first paper to explore new methods of calculating the speed of adjustment in regulation and supervision, and to examine whether the high speed of financial reform in developing countries has an undesirable impact on financial stability.

During the 1980s Latin America’s inflation problem worsened and successive stabilization programmes failed in many countries. This led to an increasing concern about the degree of rigidity imposed on the economy by different labour market structures built up over many decades. Wage indexation, in particular, was often blamed for the failure of stabilization and adjustment programmes. Examines the different components of an indexing system and assesses the degree of flexibility that the systems implemented in some countries brought to the labour market. While a particular indexing system may have the effect of reducing wage flexibility in certain periods, the analysis of data at the macro level shows that in the long term wage indexation has not been insurmountable obstacle. Stresses that wage determination is just one of the key processes with a substantial influence on inflation. In the case of high inflationary countries, the existence of various key prices draw attention to the need for co‐ordination in the adjustment of different prices during the application of a stabilization programme.

The authors explicitly evaluate the dynamic impact of five most concerned supply chain disruption scenarios, including: (1) a short-term shortage and price jump of corn supply in hog farms; (2) a shortage of market hogs to packing facilities; (3) disruption in breeding stock adjustments; (4) disruption in pork import; and (5) a combination of scenario (1)–(4).

The agricultural supply chain experienced tremendous disruptions from the COVID-19 pandemic. To evaluate the impact of disruptions, the authors employ a system dynamics model of hog market to simulate and project the impact of COVID-19 on China hog production and pork consumption. In the model the authors explicitly characterize the cyclical pattern of hog market. The hog cycle model is calibrated using market data from 2018–2019 to represent the market situation during an ongoing African swine fever.

The authors find that the impacts of supply chain disruption are generally short-lived. Market hog transportation disruption has immediate impact on price and consumption. But the impact is smoothed out in six months. Delay in import shipment temporarily reduces consumption and raises hog price. A temporary increase of corn price or delay in breeding stock acquisition does not produce significant impact on national hog market as a whole, despite mass media coverage on certain severely affected regions.

This is the first evaluation of short-term supply chain disruption on China hog market from COVID-19. The authors employ a system dynamics model of hog markets with an international trade component. The model allows for monthly time step analysis and projection of the COVID-19 impact over a five-year period. The results and discussion have far-reaching implications for agricultural markets around the world.

This paper is one of the first studies to examine specificities, including limits of mindfulness at work in an African organisational context, whilst dealing with the ongoing COVID-19 pandemic. It specifically addresses the role of organisational and managerial support systems in restoring employee wellbeing, social connectedness and attachment to their organisations, in order to overcome the exclusion caused by the ongoing pandemic.

The study uses a qualitative research methodology that includes interviews as the main data source. The sample comprises of 20 entrepreneurs (organisational leaders) from Ghana and Nigeria.

The authors found that COVID-19-induced worries restricted the practice of mindfulness, and this was prevalent at the peak of the pandemic, particularly due to very tough economic conditions caused by reduction in salaries, and intensified by pre-existing general economic and social insecurities, and institutional voids in Africa. This aspect further resulted in lack of engagement and lack of commitment, which affected overall team performance and restricted employees’ mindfulness at work. Hence, quietness by employees even though can be linked to mindfulness was linked to larger psychological stress that they were facing. The authors also found leaders/manager’s emotional intelligence, social skills and organisational support systems to be helpful in such circumstances. However, their effectiveness varied among the cases.

This paper is one of the first studies to establish a link between the COVID-19 pandemic and mindfulness limitations. Moreover, it is a pioneering study specifically highlighting the damaging impact of COVID-19-induced concerns on leader–member exchange (LMX) and team–member exchange (TMX) relationships, particularly in the African context. It further brings in a unique discussion on the mitigating mechanisms of such COVID-19-induced concerns in organisations and highlights the roles of manager’s/leader’s emotional intelligence, social skills and supportive intervention patterns. Finally, the authors offer an in-depth assessment of the effectiveness of organisational interventions and supportive relational systems in restoring social connectedness following a social exclusion caused by COVID-19-induced worries.

The present study aimed to examine the effect of received remittance inflows on the price level ratio of the purchasing power parity conversion factor to the market exchange rate in 36 developed and developing countries from 2004 to 2020.

The panel data conducted a comparative analysis and used panel least squares, regression with Driscoll-Kraay standard errors of fixed effect, random effect, feasible generalised least squares and maximum likelihood robust least squares to overcome the heterogeneity issue. Furthermore, the two-step difference generalised method of moments to overcome the endogeneity issue. Diagnostic tests were used to increase robustness.

In the studied countries, there was a statistically significant negative relationship between received remittance inflows and the price-level ratio of the purchasing power parity conversion factor to the market exchange rate. This relationship explains why remittance flows depreciate the real exchange rate. The study’s results also indicated that attracting investments can improve the quality of institutions despite high tax rates, leading to low tax revenue.

The current study findings enrich the understanding of policies of how governments should minimise tariff rates on capital imports and introduce export-oriented incentive programmes. The study also revealed that Dutch disease can occur due to differences in the demand structure and manufacturing development policy.

This study considers both a single and multi‐mode viscoelastic analysis for wire‐coating flows. The numerical simulations utilise a finite element time‐stepping technique, a Taylor‐Petrov‐Galerkin/pressure‐correction scheme employing both coupled and decoupled procedures between stress and kinematic fields. An exponential Phan‐Thein/Tanner model is used to predict pressure‐drop and residual stress for this process. Rheometrical data fitting is performed for steady shear and pure extensional flows, considering both high and low density polyethylene melts. Simulations are conducted to match experimental pressure‐drop/flowrate data for a contraction flow. Then, for a complex industrial wire‐coating flow, stress and pressure drop are predicted numerically and quantified. The benefits are extolled of the use of a multi‐mode model that can incorporate a wide‐range discrete relaxation spectrum to represent flow response in complex settings. Contrast is made between LDPE and HDPE polymers, and dependency on individual relaxation modes is identified in its contribution to overall flow behaviour.

Whereas many researchers have examined the way in which health institutions have been transformed through funding modalities, and particularly through prospective payment systems (PPS), few have investigated the architecture of these systems, that is, costs and cost variance. Focusing on the study of costs and on the production of hospital rates, this chapter shows that the French PPS, called “rate per activity” made possible what we call a policy of variance. For health policymakers, the aim was to make the different accounting figures between hospitals, and between ways of practising healthcare, visible, in order to reduce these variances. This policy was attended by uncertainty in the processes of quantification, which led to metrological controversies. As a consequence of the issues around the way of calculating costs, some accounts and calculations were redone. In this chapter, we consider the case of metrological controversy over the remuneration of costs for cystic fibrosis patients’ hospital stays, and over the action of a patient organization that criticized the costs calculated officially. It leads to the analysis of the way calculative infrastructures, as cost accounting and rates, are challenged, and how some actors try to stabilize them.

The purpose of this paper is to introduce the application of sustainable growth challenge (SGC) model in agricultural finance as a conceptual paradigm and then uses the model to measure sustainable growth rates for Illinois grain and livestock farmers. The SGC concept is used to understand the economic conditions and business decisions made by farmers in certain episodes of the time period analyzed.

A seemingly unrelated regression approach is used to analyze the interrelationships of the four levers of growth using a panel data of Illinois farm‐level financial and operating information. The second analysis flows from the first and examines aggregate US farm data to provide an historical perspective of changes in the SGC over time.

Econometric results indicate the relevance of the SGC model in explaining farm financial and operating decisions. The farms’ tendencies to attain balanced growth seem to be more influenced by asset productivity and leverage decisions, which are given different emphasis by grain and livestock farms due to differing operational structures and constraints. This study's estimation and analysis of the USA farm sector's actual and sustainable growth rates from 1981 to 2001 data generally show that the industry has adapted to positive or negative SGCs in a manner consistent with the model.

This paper explores the relevance of the SGC model as a business, policy and teaching tool for understanding issues surrounding farmers’ financial and operating decisions.

This paper aims to discuss financial reporting under economic policy uncertainty.

The paper uses discourse analysis to examine financial reporting under economic policy uncertainty.

The paper identifies the link between economic policy uncertainty and financial reporting, in terms of earnings management and fair value accounting. It argues that high economic policy uncertainty will transmit fewer new information to firms which can motivate managers to influence accounting numbers in the direction of the desired financial reporting outcome.

The relationship between economic policy uncertainty and financial reporting has not been studied. This paper is one of the first papers to relate economic policy uncertainty to financial reporting behavior.

The purpose of this paper is to use an equilibrium model to identify the public and private informational requirements for equilibrium pricing and shows that unless these informational requirements are met, skin-in-the-game policies will not be fully effective against moral hazard for banks with relatively large market share. Selling securitizations with recourse can be.

The single-period model shows equilibrium prices depend on both public and private information, the latter produced as banks screen loans. If bank has a sufficiently large market share, it can profit by omitting the screening unless investors can detect the change. The author derives the profit function for not screening, shows that a skin-in-the-game policy cannot fully offset its incentives, and proposes a sale with recourse policy that can.

To value securitizations correctly, investors require both publicly and privately available information. If investors cannot monitor banks closely, correct pricing can be frustrated by profit maximization incentives, since banks with large market shares can profit from not screening. Skin-in-the-game policies cannot fully offset these incentives.

The equilibrium model identifies the public and private informational requirements for equilibrium pricing and shows that unless these informational requirements are met, skin-in-the-game policies will not be fully effective for banks with relatively large market share. Selling securitizations with recourse can be more fully effective.

If it is difficult for investors to obtain private information, skin-in-the-game policies are not provide fully effective remedies against moral hazard. Sales with recourse policies offer promise because they are easy for investors to understand and difficult to evade.

Trading on the basis of private information can create perverse incentives, and appropriate corrective policies can help offset them.

The general equilibrium methodology, the findings of incentives to avoid screening, the flaws with skin-in-the-game policies, and the proposal for sale with recourse are all new.