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Did cryptocurrencies exhibit log‐periodic power law signature during the second wave of COVID‐19? 在第二波COVID - 19期间,加密货币是否表现出对数周期幂律特征?
IF 1.5
Economic Notes Pub Date : 2022-09-21 DOI: 10.1111/ecno.12207
Bikramaditya Ghosh, Spyros Papathanasiou, Georgios Pergeris
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引用次数: 2
Did cryptocurrencies exhibit log-periodic power law signature during the second wave of COVID-19? 在第二波新冠肺炎疫情期间,加密货币是否表现出对数周期幂律特征?
IF 1.5
Economic Notes Pub Date : 2022-09-21 DOI: 10.1111/ecno.12207
Bikramaditya Ghosh, Spyros Papathanasiou, Georgios Pergeris
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引用次数: 2
Small firms amidst COVID-19: Financial constraints and role of government support 新冠肺炎中的小企业:财政限制和政府支持的作用
IF 1.5
Economic Notes Pub Date : 2022-09-07 DOI: 10.1111/ecno.12206
Radeef Chundakkadan, Rajesh Raj Natarajan, Subash Sasidharan
{"title":"Small firms amidst COVID-19: Financial constraints and role of government support","authors":"Radeef Chundakkadan,&nbsp;Rajesh Raj Natarajan,&nbsp;Subash Sasidharan","doi":"10.1111/ecno.12206","DOIUrl":"https://doi.org/10.1111/ecno.12206","url":null,"abstract":"<p>The coronavirus disease 2019 has severely affected the financially constrained small and medium enterprises (SMEs). In response, various countries employed several policies to support SMEs. Using rich firm-level data from 34 countries, we study the impact of the pandemic-led crisis on cash-strapped SMEs and the role of governments in offsetting losses. Our results suggest that (i) government support programmes target mostly financially constrained firms; (ii) firms adjustments to the pandemic are associated with the likelihood of government support; (iii) financially constrained firms are more likely to lay off workers; and (iv) financially constrained firms layoff more male employees than female employees.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"51 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecno.12206","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71944000","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: 8
Effect of abnormal credit expansion and contraction on GDP per capita in ECOWAS countries 西非经共体国家信贷异常扩张和收缩对人均GDP的影响
IF 1.5
Economic Notes Pub Date : 2022-08-29 DOI: 10.1111/ecno.12205
Peterson K. Ozili, Jide Oladipo, Paul Terhemer Iorember
{"title":"Effect of abnormal credit expansion and contraction on GDP per capita in ECOWAS countries","authors":"Peterson K. Ozili, Jide Oladipo, Paul Terhemer Iorember","doi":"10.1111/ecno.12205","DOIUrl":"https://doi.org/10.1111/ecno.12205","url":null,"abstract":"We investigate the impact of abnormal credit expansion and contraction on the GDP per capita of ECOWAS countries. We analyse abnormal credit from two dimensions: first, the impact of abnormal credit contraction on GDP per capita, and second, the impact of abnormal credit expansion on GDP per capita. Using data for 10 ECOWAS countries from 1993 to 2021, we find evidence that abnormal credit contraction reduces the GDP per capita of ECOWAS countries. We also find some evidence that abnormal credit expansion reduces the GDP per capita of ECOWAS countries. More specifically, a unit increase in abnormal credit contraction decreases GDP per capita by 0.99 percent while a unit increase in abnormal credit expansion decreases GDP per capita by only 0.1 percent. The findings confirm that ‘ too little’ or ‘too much ’ credit does not improve economic output per person in immature financial systems. We also observe that banking sector solvency and a strong legal system have a positive effect on the GDP per capita of ECOWAS countries while banking sector efficiency has a negative effect on GDP per capita. that abnormal credit contraction reduces the GDP per capita of ECOWAS countries. This indicates that abnormal cuts in credit to the private sector lowers economic output per person in ECOWAS countries. We also find some evidence that abnormal credit expansion reduces the GDP per capita of ECOWAS countries. This indicates that abnormal increases in credit to the private sector lowers economic output per person in ECOWAS countries.","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"4 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88238722","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: 2
Effect of abnormal credit expansion and contraction on GDP per capita in ECOWAS countries 西非经共体国家信贷异常扩张和收缩对人均国内生产总值的影响
IF 1.5
Economic Notes Pub Date : 2022-08-29 DOI: 10.1111/ecno.12205
Peterson K. Ozili, Jide Oladipo, Paul Terhemba Iorember
{"title":"Effect of abnormal credit expansion and contraction on GDP per capita in ECOWAS countries","authors":"Peterson K. Ozili,&nbsp;Jide Oladipo,&nbsp;Paul Terhemba Iorember","doi":"10.1111/ecno.12205","DOIUrl":"https://doi.org/10.1111/ecno.12205","url":null,"abstract":"<p>We investigate the impact of abnormal credit expansion and contraction on the gross domestic product (GDP) per capita (CGDP) of Economic Community of West African States (ECOWAS) countries. We analyse abnormal credit from two dimensions: first, the impact of abnormal credit contraction on CGDP and, second, the impact of abnormal credit expansion on CGDP. Using data for 10 ECOWAS countries from 1993 to 2021, we find evidence that abnormal credit contraction reduces the CGDP of ECOWAS countries. We also find some evidence that abnormal credit expansion reduces the CGDP of ECOWAS countries. More specifically, a unit increase in abnormal credit contraction decreases CGDP by 0.99%, whereas a unit increase in abnormal credit expansion decreases CGDP by only 0.1%. The findings confirm that ‘too little’ or ‘too much’ credit does not improve growth per person in immature financial systems. We also observe that banking sector solvency and a strong legal system have a positive effect on the CGDP of ECOWAS countries, while banking sector efficiency has a negative effect on CGDP.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"51 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71985990","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: 2
Do spatial dependence and market power matter in the diversification of cooperative banks? 空间依赖和市场力量对合作银行的多元化有影响吗?
IF 1.5
Economic Notes Pub Date : 2022-06-22 DOI: 10.1111/ecno.12204
Carmelo Algeri, Antonio F. Forgione, Carlo Migliardo
{"title":"Do spatial dependence and market power matter in the diversification of cooperative banks?","authors":"Carmelo Algeri,&nbsp;Antonio F. Forgione,&nbsp;Carlo Migliardo","doi":"10.1111/ecno.12204","DOIUrl":"https://doi.org/10.1111/ecno.12204","url":null,"abstract":"<p>This study examines the determinants of cooperative banks' diversification proclivity, with consideration of the spatial dependence effect. The empirical analysis demonstrates that Italian cooperative banks operate as a network with significant spillover effects that should not be ignored. Indeed, local banks compete in the same market segment, and any shift in their diversification strategy has a cascading effect on neighbouring cooperative banks as a result of customer migration. Finally, we observe that an increase in bank market power results in a decline in local bank lending activity.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"51 3","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecno.12204","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71975249","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
Do spatial dependence and market power matter in the diversification of cooperative banks? 空间依赖性和市场支配力对合作银行多元化有影响吗?
IF 1.5
Economic Notes Pub Date : 2022-06-22 DOI: 10.1111/ecno.12204
Carmelo Algeri, A. Forgione, Carlo Migliardo
{"title":"Do spatial dependence and market power matter in the diversification of cooperative banks?","authors":"Carmelo Algeri, A. Forgione, Carlo Migliardo","doi":"10.1111/ecno.12204","DOIUrl":"https://doi.org/10.1111/ecno.12204","url":null,"abstract":"","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"1 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78612835","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 : 2022-06-01 DOI: 10.1111/ecno.12188
{"title":"Issue Information (ECNO)","authors":"","doi":"10.1111/ecno.12188","DOIUrl":"https://doi.org/10.1111/ecno.12188","url":null,"abstract":"","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"51 2","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecno.12188","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72128629","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
Are boards ‘substitute’ or ‘complement’ dividend payout? Econometric evidence for Indian banks 董事会是“替代”还是“补充”股息支付?印度银行的计量经济学证据
IF 1.5
Economic Notes Pub Date : 2022-01-07 DOI: 10.1111/ecno.12198
Madhur Bhatia, Rachita Gulati
{"title":"Are boards ‘substitute’ or ‘complement’ dividend payout? Econometric evidence for Indian banks","authors":"Madhur Bhatia,&nbsp;Rachita Gulati","doi":"10.1111/ecno.12198","DOIUrl":"https://doi.org/10.1111/ecno.12198","url":null,"abstract":"<p>This study econometrically tests the ‘substitution’ versus ‘outcome’ hypotheses by examining the impact of board governance on the dividend payout policy in the Indian banking industry. The analysis is confined to the period from 2005 to 2018. The results reveal a significant positive influence of overall board quality on the magnitude of payouts, supporting the ‘outcome hypothesis’. At the disaggregated level, independent directors, female directors, chief executive officer duality, and board meetings significantly influence the dividend policy of Indian banks. Our further investigation of the board-dividend nexus at the ownership level shows that this complement relation is only visible in private banks (PBs). While the ‘substitution hypothesis’ holds in public sector banks (PSBs). The results suggest that good governed PBs use dividends as a complementary measure of monitoring mechanism. In contrast, governed boards of PSBs take conservative financial decisions and declare a low dividend. The findings are robust at disaggregate level, corroborating our main findings and additional analyses, including propensity score matching depicting that our conclusions are not beset by endogeneity or selection bias.</p>","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"51 2","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72142446","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
Are boards ‘substitute’ or ‘complement’ dividend payout? Econometric evidence for Indian banks 董事会是“替代”派息还是“补充”派息?印度银行的计量经济学证据
IF 1.5
Economic Notes Pub Date : 2022-01-07 DOI: 10.1111/ecno.12198
M. Bhatia, Rachita Gulati
{"title":"Are boards ‘substitute’ or ‘complement’ dividend payout? Econometric evidence for Indian banks","authors":"M. Bhatia, Rachita Gulati","doi":"10.1111/ecno.12198","DOIUrl":"https://doi.org/10.1111/ecno.12198","url":null,"abstract":"","PeriodicalId":44298,"journal":{"name":"Economic Notes","volume":"4 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88263682","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
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