{"title":"Institutions for macroeconomic stability: a review of ‘Monetary policy in low financial development countries’","authors":"José R. Sánchez-Fung","doi":"10.1080/17520843.2022.2096913","DOIUrl":"https://doi.org/10.1080/17520843.2022.2096913","url":null,"abstract":"ABSTRACT ‘Monetary policy in low financial development countries’ is about a significant and evolving subject. Designing and implementing monetary policy is complex, and considering an economy’s stage of development adds further problems. Theoretical advances are important alongside empirical analyses incorporating an economy’s features. The book shows that the ground remains fertile for research on monetary policy in developing economies -ranging from the international transmission mechanism of monetary policy to central bank behaviour and communication strategies.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49266023","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":"Regime-switching effect of COVID-19 pandemic on stock market index: evidence from Turkey as an emerging market example","authors":"M. Kartal, F. Ayhan, Derviş Kırıkkaleli","doi":"10.1080/17520843.2022.2091825","DOIUrl":"https://doi.org/10.1080/17520843.2022.2091825","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48880490","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":"Inflation persistence for product groups in Brazil using the ARFIMA-GARCH model","authors":"Adriana Ferreira Silva, Aniela Fagundes Carrara, Nicole Rennó Castro","doi":"10.1080/17520843.2022.2080345","DOIUrl":"https://doi.org/10.1080/17520843.2022.2080345","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48054401","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":"A study of inflation persistence in Kazakhstan: what has changed?","authors":"Alisher Tolepbergen","doi":"10.1080/17520843.2022.2077055","DOIUrl":"https://doi.org/10.1080/17520843.2022.2077055","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48657075","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":"Monetary policy transmission in India: new evidence from firm-bank matched data","authors":"Pranav Garg, Saurabh Ghosh, Abhinav Narayanan","doi":"10.1080/17520843.2022.2067682","DOIUrl":"https://doi.org/10.1080/17520843.2022.2067682","url":null,"abstract":"<p><b>ABSTRACT</b></p><p>This paper uses a unique firm-bank matched data set for India to provide new insights into the monetary policy transmission mechanism. Our assessment of the bank-lending channel suggests that an increase in credit may have a heterogeneous effect on firms based on the liquidity positions of the lending banks. Investment in fixed assets is found to increase for firms that borrow from liquid banks, when these banks increase their lending. By contrast, we find increased financing of current liabilities – and not increase in long-term investment – for firms that borrow from the less liquid banks.</p>","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138531518","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}
Z. Ybrayev, Olzhas Kubenbayev, Akylzhan Baimagambetov
{"title":"Macroeconomic effects of fiscal rules for a commodity-exporting economy: avoiding procyclical bias in Kazakhstan","authors":"Z. Ybrayev, Olzhas Kubenbayev, Akylzhan Baimagambetov","doi":"10.1080/17520843.2022.2043602","DOIUrl":"https://doi.org/10.1080/17520843.2022.2043602","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43742431","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":"Unemployment, informality and optimal monetary policy, an evaluation of the cross-checking approach","authors":"Wissem Boukraine, Hella Guerchi Mehri","doi":"10.1080/17520843.2022.2030887","DOIUrl":"https://doi.org/10.1080/17520843.2022.2030887","url":null,"abstract":"<p><b>ABSTRACT</b></p><p>This paper evaluate, in terms of simulated welfare loss, the cross-checking of a DSGE model’s loss function with a simple Taylor rule as a monetary policy framework for a central bank unable to commit to a target. We focus on Tunisia as an emerging economy with challenging characteristics for this technique, mainly high involuntary unemployment and an important informal sector. Our results confirm the effectiveness of this technique and the policy implication we derive is the superiority of cross-checking over discretion as an optimal monetary policy framework when the central bank is unable to commit to a target.</p>","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138542080","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":"Strategizing export promotion in Indian telecom sector: empirical evidence using time and frequency analysis","authors":"B. Mishra, Sajal Ghosh, K. Kanjilal","doi":"10.1080/17520843.2022.2050091","DOIUrl":"https://doi.org/10.1080/17520843.2022.2050091","url":null,"abstract":"ABSTRACT This study evaluates how foreign direct investment (FDI) impact the Indian telecom manufacturing sector and the exports of telecom products between January 2012 and February 2020. It establishes a long-term non-linear relationship among FDI, exports, and industrial production index that exhibits regime shifts, time-varying, and wavelet coherence under exchange rate volatility. The study revealed that telecom sectoral FDI majorly strengthens the service delivery capacity rather than enhancing the production of telecom products. The policy and regulatory initiatives, mainly focused on ‘import substitution’, may not automatically lead to strengthening of domestic manufacturing and increased participation in the global value chain.","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42567685","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":"A resource dependence theory perspective on low savings, cost of capital, leverage and bank valuation in South Africa","authors":"Sophie Kasse Kengne","doi":"10.1080/17520843.2022.2033932","DOIUrl":"https://doi.org/10.1080/17520843.2022.2033932","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49275448","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":"Stress testing frameworks and practices in emerging markets: the case of dual banking system","authors":"Muhamed Zulkhibri, A. Ismail","doi":"10.1080/17520843.2022.2046352","DOIUrl":"https://doi.org/10.1080/17520843.2022.2046352","url":null,"abstract":"","PeriodicalId":42943,"journal":{"name":"Macroeconomics and Finance in Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45327135","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}