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Financial inclusion of Muslim minority in Vellore, Tamil Nadu 泰米尔纳德邦韦洛尔穆斯林少数民族的金融包容性
IF 1.5
Economic Notes Pub Date : 2024-01-11 DOI: 10.1111/ecno.12232
Vavangani Ishtiyaq Nadeem, Khalid Waheed, Arshiya Fathima M.S
{"title":"Financial inclusion of Muslim minority in Vellore, Tamil Nadu","authors":"Vavangani Ishtiyaq Nadeem,&nbsp;Khalid Waheed,&nbsp;Arshiya Fathima M.S","doi":"10.1111/ecno.12232","DOIUrl":"https://doi.org/10.1111/ecno.12232","url":null,"abstract":"<p>The study aims to identify the potential determinants of financial inclusion and its impact on the Indian Muslim minority in Tamil Nadu. statistical package for social science and analysis of moment structures software packages were used in the study. Confirmatory factor analysis and structural equation modelling techniques were applied to examine the collected data (<i>n</i> = 300) from the Vellore district from April 2022 to March 2023. The study reveals that financial awareness, access and quality positively and significantly impact financial inclusion. However, the financial usage dimension is statistically insignificant. Additionally, the results from the moderation effect reveal that financial access and quality, along with age and annual income, significantly influence financial inclusion. In conclusion, the study contributes new dimensions to the existing literature by exploring the financial inclusion of Muslims and suggests implications and future scope for further research.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"53 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139434933","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}
引用次数: 0
Issue Information (ECNO) 发行信息(ECNO)
IF 1.5
Economic Notes Pub Date : 2024-01-11 DOI: 10.1111/ecno.12222
{"title":"Issue Information (ECNO)","authors":"","doi":"10.1111/ecno.12222","DOIUrl":"https://doi.org/10.1111/ecno.12222","url":null,"abstract":"","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"53 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecno.12222","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139434932","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The monetary policy trilemma from the perspective of European integration 从欧洲一体化角度看货币政策三难问题
IF 1.5
Economic Notes Pub Date : 2023-12-13 DOI: 10.1111/ecno.12231
Gian Maria Tomat
{"title":"The monetary policy trilemma from the perspective of European integration","authors":"Gian Maria Tomat","doi":"10.1111/ecno.12231","DOIUrl":"10.1111/ecno.12231","url":null,"abstract":"<p>Following the breakdown of the Bretton Woods agreement the international monetary system has operated based on floating exchange rate arrangements and free capital mobility. A most significant subsequent improvement has been the process of European monetary integration, from the institution of the European Monetary System to the Euro currency. The relationships between the short-term interest rates of European Union (EU) countries and the United States suggest, that in the post-Bretton Woods period the US dollar has held an important anchor currency role, while EU countries acquired considerable monetary policy independence. Further, the stronger relationships between the short-term interest rates of EU countries and Germany may be viewed as a consequence of monetary unification. The econometric evidence provides important insights for the period following the adoption of the Euro, when European economies have in many instances been subject to heterogeneous shocks.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"53 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138693250","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}
引用次数: 0
Calibrating the countercyclical capital buffer using AUROCs 利用全时平均汇率校准反周期资本缓冲器
IF 1.5
Economic Notes Pub Date : 2023-10-16 DOI: 10.1111/ecno.12230
Pierluigi Bologna, Maddalena Galardo
{"title":"Calibrating the countercyclical capital buffer using AUROCs","authors":"Pierluigi Bologna,&nbsp;Maddalena Galardo","doi":"10.1111/ecno.12230","DOIUrl":"10.1111/ecno.12230","url":null,"abstract":"<p>While the setting of the countercyclical capital buffer (CCyB) is not an automatic decision, insights from indicators, such as the credit-to-GDP gap, are a starting point to inform the policy decision. This paper identifies an optimal rule to map the credit-to-GDP gap to the guide to set the CCyB. We use Italian data and follow two alternative procedures. First, we apply the criteria suggested by the Basel Committee on Banking Supervision (BCBS). Then we depart from the BCBS approach by proposing a procedure based on the maximization of the area under the receiver operating characteristic curve. We also explore whether the CCyB, had it been in place, would have mitigated the repercussions of the Great Financial Crisis on the Italian banking system. Based on a stylized exercise, the full release of the CCyB at the outbreak of the crisis would have freed around €40 billion of capital, a value close to the total amount of banks' credit provisions during the 3 following years.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"53 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136142768","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}
引用次数: 0
Issue Information (ECNO) 问题信息(ECNO)
IF 1.5
Economic Notes Pub Date : 2023-10-10 DOI: 10.1111/ecno.12203
{"title":"Issue Information (ECNO)","authors":"","doi":"10.1111/ecno.12203","DOIUrl":"https://doi.org/10.1111/ecno.12203","url":null,"abstract":"","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"52 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecno.12203","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50126873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Cryptocurrency and African fiat currencies: A peaceful coexistence? 加密货币与非洲法定货币:和平共处?
IF 1.5
Economic Notes Pub Date : 2023-09-30 DOI: 10.1111/ecno.12229
Seyram P. Kumah
{"title":"Cryptocurrency and African fiat currencies: A peaceful coexistence?","authors":"Seyram P. Kumah","doi":"10.1111/ecno.12229","DOIUrl":"10.1111/ecno.12229","url":null,"abstract":"<p>This study examines the asymmetric behaviour of Bitcoin relative to six major African fiat currencies (Egyptian Pound, Cedi, ZAR, Naira, Rupee and Dinar) for the period 10 August 2015 to 31 December 2022. The time and frequency information in the time series of the currencies were captured applying the ensemble empirical mode decomposition. The quantile regression (QR) and quantile-in-quantile regression (QQR) were applied on the decomposed series to examine the connections among the currencies at different currency regimes across time. The empirical results show that both QR and QQR can adequately capture the time-varying asymmetric behaviour of the currencies across time. The results range from weak to very strong dependencies albeit both negative and positive across different quantiles. Our findings suggest that except for ZAR, Bitcoin is a viable alternative currency to African reserve currencies from the medium-term since it can hedge depreciation and forex risk of the fiat currencies. Based on the findings of this study, we recommend that forex traders and policymakers in Africa should adopt Bitcoin as an alternative currency to African currencies in the medium-term to mitigate currency crises in the continent.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"53 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136280439","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}
引用次数: 0
The inflation game 通货膨胀游戏
IF 1.5
Economic Notes Pub Date : 2023-09-30 DOI: 10.1111/ecno.12228
Wolfgang Kuhle
{"title":"The inflation game","authors":"Wolfgang Kuhle","doi":"10.1111/ecno.12228","DOIUrl":"10.1111/ecno.12228","url":null,"abstract":"<p>We study a game where households buy consumption goods to preempt inflation. This game features a unique equilibrium with high (low) inflation, whenever money supply is high (low). For intermediate levels of money supply, there exist multiple stable equilibria where inflation is either high or low. Equilibria with moderate inflation, however, do not exist, and can thus not be targeted by central banks. That is, depending on agents' equilibrium play, money supply is always either too high or too low for moderate inflation. Finally, we find that inflation rates of durable goods, such as houses, cars, luxury watches, or furniture, are useful leading indicators for changes in overall inflation.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"53 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecno.12228","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136279473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is the cryptocurrency market a hedge against stock market risk? A Wavelet and GARCH approach 加密货币市场是为了对冲股市风险吗?小波和GARCH方法
IF 1.5
Economic Notes Pub Date : 2023-09-16 DOI: 10.1111/ecno.12227
Susovon Jana, Tarak N. Sahu
{"title":"Is the cryptocurrency market a hedge against stock market risk? A Wavelet and GARCH approach","authors":"Susovon Jana,&nbsp;Tarak N. Sahu","doi":"10.1111/ecno.12227","DOIUrl":"https://doi.org/10.1111/ecno.12227","url":null,"abstract":"<p>This study analyses six major cryptocurrencies and four global stock markets to explore the role of cryptocurrencies as a hedge, safe haven, and diversifier in stock markets. The study employs ADCC-GARCH and Wavelet Coherence Technique, using daily data from 4 January 2017 to 28 February 2023. The study has found that stock returns and unstable cryptocurrency returns have high volatility persistence in the long run. Besides, while unstable digital currencies (Bitcoin, Ethereum, Binance Coin, and Dogecoin) serve as a hedge during stable economic periods, they have not been a hedge during economic turmoil in the stock markets. Conversely, stablecoins (Tether and USD Coin) have been shown to have acted as a hedge during normal economic times and have offered a safe haven during economic downturns. Except for Tether, all cryptocurrencies' diversification capacity is time-varying. In stable economic conditions, they serve as diversifiers, but during turmoil, they do not. However, Tether serves as a diversifier regardless of the financial situation. Finally, the present investigation is expected to offer crucial information on hedge, safe haven and diversification for quasi-investors.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"52 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50144113","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}
引用次数: 1
Does financial inclusion empower women in Africa? 金融包容性是否赋予非洲妇女权力?
IF 1.5
Economic Notes Pub Date : 2023-08-28 DOI: 10.1111/ecno.12226
Admasu A. Maruta, Habtamu T. Edjigu, Woubet Kassa
{"title":"Does financial inclusion empower women in Africa?","authors":"Admasu A. Maruta,&nbsp;Habtamu T. Edjigu,&nbsp;Woubet Kassa","doi":"10.1111/ecno.12226","DOIUrl":"https://doi.org/10.1111/ecno.12226","url":null,"abstract":"<p>This paper examines the effect of financial inclusion on women's empowerment. We contribute to the growing interest in financial inclusion effectiveness literature by conducting an empirical analysis of 42 African countries to examine the role of financial inclusion in empowering women. We also examine and compare the effectiveness of the three dimensions of financial inclusion viz. usage, access, and quality, and the first most influential indicators, based on their PCA score, of these dimensions. Our findings suggest that financial inclusion has a significantly positive effect on women's empowerment-measured by females' human development index. Examining the relative importance of financial inclusion dimensions, we find access to financial services has a higher effect on women's empowerment. These results are robust to alternative measures of women's empowerment and financial inclusion, and alternative estimation procedures. We also find that the effect of financial inclusion on women's empowerment is higher in low and lower-middle-income countries compared with upper-middle-income countries in the region. This study provides evidence of one of the channels through which financial inclusion contributes to reducing gender inequality, and thereby enhancing economic development.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"52 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50146477","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}
引用次数: 0
On the relationship between financial inclusion and bank performance 论金融包容性与银行绩效的关系
IF 1.5
Economic Notes Pub Date : 2023-08-09 DOI: 10.1111/ecno.12225
Mais Sha'ban, Claudia Girardone, Anna Sarkisyan, Thankom Arun
{"title":"On the relationship between financial inclusion and bank performance","authors":"Mais Sha'ban,&nbsp;Claudia Girardone,&nbsp;Anna Sarkisyan,&nbsp;Thankom Arun","doi":"10.1111/ecno.12225","DOIUrl":"https://doi.org/10.1111/ecno.12225","url":null,"abstract":"<p>This study examines the relationship between various financial inclusion measures and banks' performance across multiple countries with varying institutional, regulatory and income levels. To construct an aggregate bank performance index, we employ principal component analysis, which utilises a set of critical indicators summarised by the CAMEL rating system, including banks' solvency, asset quality, efficiency, profitability and liquidity. Our primary findings indicate that different measures of financial inclusion exhibit varying associations with bank performance. Specifically, there is a trade-off between bank performance and credit deepening, especially in high-income nations. Conversely, in low-income nations, higher financial inclusion, measured by deposits to GDP, number of deposits, and number of borrowers, does not affect bank performance adversely. Banks in low-income nations could achieve significant gains by improving financial access and enhancing regulatory environments.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"52 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50142090","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}
引用次数: 0
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