National Accounting Review最新文献

{"title":"Forecasting green financial innovation and its implications for financial performance in Ethiopian Financial Institutions: Evidence from ARIMA and ARDL model","authors":"Goshu Desalegn, A. Tangl","doi":"10.3934/nar.2022006","DOIUrl":"https://doi.org/10.3934/nar.2022006","url":null,"abstract":"\u0000 Green innovation is the creation of new and competitive products, services, processes, procedures and systems designed to use natural resources at a minimum level and to provide better quality of life on behalf of all that respects sustainability of the nature and of the future generations. The study objective was to examine the relationship between green innovation and financial performance. The study used an explanatory research design and a quantitative research approach to achieve the study's objective. Secondary time series data collected quarterly during the study period (2014–2020) was utilized to run the regression model. Autoregressive moving average (ARIMA) was used to forecast the growing level of green financial innovation transactions, and autoregressive distributed lag model (ARDL) was used to examine the effect of green financial innovation transactions on financial performance. According to forecasted results, on average green financial innovation transaction is expected to grow by 11 percent each quarter, and its impact on financial performance is found positive and significant in the short run. However, the long-run estimation of ARDL shows the positive and insignificant effect of green financial innovation on financial performance. Based on the study's findings, we recommend that the banking sector focuses on adopting green financial innovations to improve financial performance by taking into account both the short-run and long-run benefits of the products. At the same time, we suggest that the sector focus on those green financial innovations which have the lowest adoption and development costs compared to others since the long-run effect affects the overall financial performance of the sector. The main contribution of this study is to provide future indication on the relationship between the two variables in order to provide proper decision making in a bid to make green innovation investment.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114203239","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Market and home production earnings gaps in Russia","authors":"V. Hlasny","doi":"10.3934/nar.2023007","DOIUrl":"https://doi.org/10.3934/nar.2023007","url":null,"abstract":"\u0000 This study assesses the evolution of earnings across different groups of workers during Russia's 2000–2013 oil boom and amidst the 2014–2015 oil bust and a trade war. Unconditional quantile regressions and growth incidence curves are applied to nine household surveys for 2000–2016 to estimate earnings gaps across urban/rural, farming/non-farming and gender divides at various earnings quantiles. Gaps in pre-fiscal formal labor market earnings and informal non-market home production are assessed, distinguishing the roles of workers' endowments differentials and returns differentials in production markets. Earning gaps are found to be pervasive, with rural and some female-headed households receiving lower returns on their human capital in part because they lack employment opportunities. Rural Russian households face mobility barriers and lack decent employment opportunities, thus lacking incentives for skill investment. Rural households tend to be less educated and face low returns on their various marketable characteristics. Gender gaps were particularly high historically, particularly among lower quantile groups, but have been steadily falling over the past decade. Growth incidence curves reveal that the 2014 shocks affected particularly harshly the farming and urban households, both immediately and over the following years. We conclude that Russia should strengthen its rural assistance programs and lower the mobility and resettlement barriers to improve rural households' access to education and employment.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122630898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Forecasting Economic Indicators with Robust Factor Models","authors":"Fausto Corradin, Monica Billio, R. Casarin","doi":"10.3934/nar.2022010","DOIUrl":"https://doi.org/10.3934/nar.2022010","url":null,"abstract":"\u0000 Outliers can cause significant errors in forecasting, and it is essential to reduce their impact without losing the information they store. Information loss naturally arises if observations are dropped from the dataset. Thus, two alternative procedures are considered here: the Fast Minimum Covariance Determinant and the Iteratively Reweighted Least Squares. The procedures are used to estimate factor models robust to outliers, and a comparison of the forecast abilities of the robust approaches is carried out on a large dataset widely used in economics. The dataset includes observations relative to the 2009 crisis and the COVID-19 pandemic, some of which can be considered outliers. The comparison is carried out at different sampling frequencies and horizons, in-sample and out-of-sample, on relevant variables such as GDP, Unemployment Rate, and Prices for both the US and the EU.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125467441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Healthcare access as an important element for the EU's socioeconomic development: Greece's residents' opinions during the COVID-19 pandemic","authors":"D. Zavras","doi":"10.3934/nar.2022020","DOIUrl":"https://doi.org/10.3934/nar.2022020","url":null,"abstract":"\u0000The coronavirus disease 2019 (COVID-19) pandemic has had a severe impact on global socio-economic development and healthcare access. Considering the link between the two, the objective of this study was to investigate to what extent Greece's residents consider that access to healthcare is an important element for the European's Union (EU) socioeconomic development. The study used data from the Eurobarometer 94.2. Interviews were conducted online. Respondents were recruited by telephone via a dual-frame random digit dialing (RDD) sample design. The sample was supplemented with a non-probabilistic sample randomly drawn from Kantar's LifePoints panel. The sample size was n = 1002. A logistic model was fitted using the respondents' opinions regarding the direction the EU is heading in as a dependent variable. As potential predictors, we used respondents' opinions regarding the importance of access to healthcare for the EU's socioeconomic development, the extent to which more (or less) decision-making should take place at the European level for dealing with health issues, the index of political interest and several sociodemographic characteristics. According to the analysis, those that mentioned healthcare access as an important element for the EU's socioeconomic development were more likely to consider that the EU is heading in the wrong direction. The results of this study may indicate feelings of discomfort regarding the decline of society in the European Union due to disruptions to healthcare access and the contraction of national economies caused by the COVID-19 pandemic.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126654882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Adoption of the combined assurance model by South African state-owned enterprises (SOEs)","authors":"A. Adebayo, B. Ackers","doi":"10.3934/nar.2023004","DOIUrl":"https://doi.org/10.3934/nar.2023004","url":null,"abstract":"\u0000\u0000In addition to integrated reporting, which was arguably first introduced by the third King Report on Governance for South Africa (King Ⅲ), King Ⅲ also formally introduced the combined assurance model as a further governance innovation, aimed at enhancing the quality of organisational reporting. Although the combined assurance model is primarily an internal enterprise risk management innovation, designed to incorporate, integrate and optimise all assurance services and functions, it simultaneously enhances the credibility of organisational reporting. Taken as a whole, the combined assurance model enables an effective control environment, supports the integrity of information used for internal decision-making by management, the governing body and its committees; while supporting the integrity of the organisation's external reports. Organisations adopting King Ⅳ, including state-owned enterprises (SOEs), are expected to explain how the provisions of the combined assurance model have been implemented. Explaining conformance, introduces an element of innovation into organisational reporting as envisaged by King Ⅳ, by providing stakeholders with assurance about the veracity of the disclosures contained in the internal and external reports of organisations. This exploratory paper analyses the extent to which South African SOEs have conformed to seven key combined assurance indicators. The disclosures contained in the publicly available annual/integrated reports of South African SOEs, listed in Schedule 2 of the Public Finance Management Act (PFMA), were thematically analysed to fulfil the objective of the study. We found that although the combined assurance related disclosures suggest high levels of adoption by some SOEs, the majority have not provided sufficient information to explain how they have applied combined assurance, if at all. Although their reports appear to provide internal management with some level of assurance about the extent to which risks have been managed, these reports may not necessarily provide external users with confidence that all material risks have been effectively mitigated, within the organisation's risk appetite. This paper discuses implications for policy and practice and concludes by providing avenues for further research.\u0000\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126429938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of urban concentration in African countries","authors":"E. Ezzahid, B. Ferrahi, Oumar El HAMDANI","doi":"10.3934/nar.2022011","DOIUrl":"https://doi.org/10.3934/nar.2022011","url":null,"abstract":"\u0000 The knowledge of the potential drivers of urban concentration is of prime importance for policy-makers. This paper examines links between some structural variables and some measures of urban concentration in African countries. Cross-section regressions are used to single out determinants of urban concentration. There are three results worth highlighting. First, huge differences do exist between African countries in terms of the rate of urbanization of their population and the degree of concentration of their urban systems. Second, the countries having the most primal urban systems are the poorest countries according to their per capita GDP. Consequently, the higher the urban population is and the lower the degree of development of a country we have, the higher will be, on average, the degree of its urban concentration. Third, the availability of electricity in rural areas is associated negatively with urban concentration however measured (Prim1, Prim2, HHI, and Gini index). This is a rather important result because the availability of electricity in rural areas is informative of the abundance of infrastructures in the country and, henceforth, its even distribution among urban cities and then less concentrated rural migrants' flows.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134142056","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic Covid-19 effects analysed by macro econometric models—the case of Norway","authors":"Ragnar Nymoen","doi":"10.3934/nar.2023001","DOIUrl":"https://doi.org/10.3934/nar.2023001","url":null,"abstract":"Counterfactual analysis of the impact of Covid-19 can be based on a solution of a macroeconomic model for a scenario without the coronavirus interfering with the macroeconomic system. Two measures of impact are introduced with the aid of a simple theoretical model, and then used in the empirical analysis: (Ⅰ) The difference between the counterfactual without Covid-19 and a baseline model solution. (Ⅱ) The difference between the counterfactual and the actual development of the economy. In order to analyze the impact on GDP we use two model categories. First, empirical final form model equations, which were purpose-built with the aid of a machine learning algorithm. Second, an operational multiple-equation model of the Norwegian macroeconomic system. Empirically, we find a significant impact of Covid-19 on the GDP Mainland Norway in 2020. For some of the estimator/model combinations, the impacts are also significant in the two first quarters of 2021. Using the multiple-equation model, the assessment is extended to the impact of Covid-19 on value added in four Mainland Norway industries, on imports and exports, and on final consumption expenditure and gross capital formation.","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"97 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124184454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An evaluation of quantitative easing effectiveness based on out-of-sample forecasts","authors":"Dimitris G. Kirikos","doi":"10.3934/nar.2022021","DOIUrl":"https://doi.org/10.3934/nar.2022021","url":null,"abstract":"\u0000 A line of defense of quantitative easing (QE) policies has been developed around empirical evidence that time series models do not predict long-term asset prices and yields as well as naive random walk forecasts, implying that predictions of price reversals cannot be profitable and, therefore, that QE effects are not reversed. However, in this work we present evidence that for the Eurozone, Sweden, and the UK, which have pursued QE interventions, a random walk does not beat a Markov switching regimes model in out-of-sample forecasting and, at the same time, the switching process provides additional information regarding the likelihood of price reversals, thus inducing market participants to offset the effects of QE interventions whenever they perceive unconventional monetary policy regimes as temporary.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122871565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The statistical information for tourism economics. The National Accounts perspective","authors":"Guido Ferrai, J. M. Jiménez, Yanyun Zhao","doi":"10.3934/nar.2022012","DOIUrl":"https://doi.org/10.3934/nar.2022012","url":null,"abstract":"\u0000 Statistical information strengthening in tourism sector is recommended by the United Nations World Tourism Organization (UNWTO). Economic-statistical information is basic for carrying out effective quantitative economic analysis of tourism. Tourism Satellite Account (TSA) is not a suitable source of information for econometric analysis. National Accounts (NA), in the form of Input-Output (I-O) Tables, Computable General Equilibrium (CGE) models or Social Accounting Matrices (SAMs) represent a good source of economic-statistical information and of economic impact analysis. This paper shows how it is appropriate to focus on the definition of tourists and tourism enterprises, overcoming the uncertainties and distortions in the analyses and results that the current leaning on a generic definition of tourism entails. Furthermore, it is argued that the best impact analysis can be conducted through the use of a SAM, which in addition to being structurally consistent with the choice of defining and implementing tourists and tourist enterprises, confirming its usefulness, allows to analyse fully and, from a theoretical point of view, more correctly than I-O Tables and CGE models, the impact of inbound tourism expenditure on production structure represented by branches, on factors and therefore on GVA/GDP produced by the branches themselves and on households expenditure. Furthermore, the suggested approach offers actual possibilities for assessing the economic sustainability of tourism development. Regional and national impact analyses carried out with the use of SAMs confirm the positions claimed in the paper.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128621548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"COVID-19 and the effect of central bank intervention on exchange rate volatility in developing countries: The case of Uganda","authors":"Lorna Katusiime","doi":"10.3934/nar.2023002","DOIUrl":"https://doi.org/10.3934/nar.2023002","url":null,"abstract":"\u0000 The COVID-19 crisis has not only manifested as a tragic public health crisis but also as an unprecedented economic disruption characterized by economic deterioration, the sharp increase in market volatility and the blinding uncertainty about the impact of the pandemic, especially in the context of developing countries. It is therefore not surprising that central banks seeking to maintain macroeconomic and financial stability, which are critical for sustained economic development, have maintained the practice of central bank intervention, especially in developing countries. This paper empirically examines the effect of central bank foreign exchange interventions on the level and volatility of the Uganda shilling / US dollar exchange rate (UGX/USD). Utilizing daily data spanning the period December 30, 2016, to 1 December 2021, we estimate a foreign exchange intervention model within a GARCH theoretical framework. Empirical results indicate that foreign exchange interventions have had mixed impact on the volatility of the exchange rate. In addition, despite generating significant uncertainty, the COVID 19 pandemic adverse shock results in a 0.03 percent appreciation due to Uganda's policy response to the COVID-19 pandemic.\u0000","PeriodicalId":125153,"journal":{"name":"National Accounting Review","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115639001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}