发布求助
文献互助 智能选刊 最新文献

Emerging Markets Review最新文献

筛选
英文 中文
The effect of US monetary policy on Russian Banks in a low interest rate environment
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-12-26 DOI: 10.1016/j.ememar.2024.101248
Nadezhda Ivanova, Konstantin Styrin
{"title":"The effect of US monetary policy on Russian Banks in a low interest rate environment","authors":"Nadezhda Ivanova,&nbsp;Konstantin Styrin","doi":"10.1016/j.ememar.2024.101248","DOIUrl":"10.1016/j.ememar.2024.101248","url":null,"abstract":"<div><div>This paper studies the cross-border transmission of US monetary policy to Russia in 2000–2019 via its effect Russian banks' activities in a low interest rate environment compared with normal times. Specifically, we investigate the dynamic responses of lending, funding, and risk taking. The main finding is that, in normal times, the dynamic responses of dependent variables of interest are consistent with the prevalence of the international bank lending channel, whereas in a low interest rate environment, the patterns differ for different indicators: in some instances, the dynamic effect of interest is attenuated as compared with normal times, while in others, it is reinforced. The inward transmission of US monetary policy works predominantly through the activities of foreign bank subsidiaries.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101248"},"PeriodicalIF":5.6,"publicationDate":"2024-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143164432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Foreign exchange intervention and capital flow measures under external tail risks
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-12-22 DOI: 10.1016/j.ememar.2024.101245
Nicolas E. Magud, Samuel Pienknagura
{"title":"Foreign exchange intervention and capital flow measures under external tail risks","authors":"Nicolas E. Magud,&nbsp;Samuel Pienknagura","doi":"10.1016/j.ememar.2024.101245","DOIUrl":"10.1016/j.ememar.2024.101245","url":null,"abstract":"<div><div>We study extreme movements in the distribution of the real effective exchange rate (REER). Global uncertainty and financial conditions shocks have a strong impact on the tails of the REER distribution, especially in economies with shallower FX markets, lower central bank credibility, and higher credit risk. FX intervention (FXI) partially offsets the impact of these shocks in the left tail (large depreciations), particularly in economies with weaker fundamentals and, importantly, where FXI is used sporadically. While capital flow management policies have low effectiveness in preventing large REER movements, they enhance FXI's effectiveness by throwing sand in wheels of FX transactions.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101245"},"PeriodicalIF":5.6,"publicationDate":"2024-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143164428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Debt-for-nature swaps: A case study of Gabon
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-12-09 DOI: 10.1016/j.ememar.2024.101244
Nagihan Simeth
{"title":"Debt-for-nature swaps: A case study of Gabon","authors":"Nagihan Simeth","doi":"10.1016/j.ememar.2024.101244","DOIUrl":"10.1016/j.ememar.2024.101244","url":null,"abstract":"<div><div>Originating in the late 1980s, debt-for-nature swaps have recently gained increased relevance, particularly for emerging market countries facing high debt levels. Recent transactions, such as those in Seychelles, Belize, Barbados, Ecuador, and Gabon, have primarily focused on marine protection. Although these swaps offer potential benefits, they also present challenges, such as high transaction costs, lengthy negotiation processes, and risks like bluewashing because of the lack of standardized oversight. In this paper, using Gabon's recent example, we discuss the weaknesses and limitations of debt-for-nature swaps.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101244"},"PeriodicalIF":5.6,"publicationDate":"2024-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
FinTech: The disruptive force reducing bank competition pressure
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-12-07 DOI: 10.1016/j.ememar.2024.101237
Xudong Zhang, Zhihui Li
{"title":"FinTech: The disruptive force reducing bank competition pressure","authors":"Xudong Zhang,&nbsp;Zhihui Li","doi":"10.1016/j.ememar.2024.101237","DOIUrl":"10.1016/j.ememar.2024.101237","url":null,"abstract":"<div><div>This study develops a news-based FinTech index and evaluates the bank competition pressure using a weighted branch ratio. Analyzing data from 276 Chinese banks from 2011 to 2022, we find that adopting FinTech effectively alleviates competition pressure among banks in local markets. This effect can be attributed to three primary mechanisms: enhanced cost efficiency, upgraded human resource structure, and expanded business scope and customer base. Additionally, FinTech exerts a greater influence on banks with lower state-owned equity, those facing stricter regulatory policies, and banks operating in larger informal financial markets.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101237"},"PeriodicalIF":5.6,"publicationDate":"2024-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does foreign demand affect corporate financialization? Some evidence from China
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-12-03 DOI: 10.1016/j.ememar.2024.101232
Tayier Tudi , Ji Wu , Minghua Chen , Bang Nam Jeon
{"title":"Does foreign demand affect corporate financialization? Some evidence from China","authors":"Tayier Tudi ,&nbsp;Ji Wu ,&nbsp;Minghua Chen ,&nbsp;Bang Nam Jeon","doi":"10.1016/j.ememar.2024.101232","DOIUrl":"10.1016/j.ememar.2024.101232","url":null,"abstract":"<div><div>We investigate whether foreign demand influences corporate financialization using data from over 1700 Chinese non-financial firms during 2007–2016. Our findings consistently reveal a negative relationship, indicating that firms increase their financial asset holdings and more actively engage in financial transactions when foreign demand declines, and vice versa when foreign demand rises. Foreign demand shapes firms' financialization by influencing their returns from real investments and financial constraints. Furthermore, we explore heterogeneous impacts of foreign demand across different financial assets, industries, and indebtedness levels in firms.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101232"},"PeriodicalIF":5.6,"publicationDate":"2024-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Combating the rent-seeking among enterprises in China's emissions trading system
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-30 DOI: 10.1016/j.ememar.2024.101233
Changyu Liu, Jia Sun, Luhang Zheng, Renkui Zhu
{"title":"Combating the rent-seeking among enterprises in China's emissions trading system","authors":"Changyu Liu,&nbsp;Jia Sun,&nbsp;Luhang Zheng,&nbsp;Renkui Zhu","doi":"10.1016/j.ememar.2024.101233","DOIUrl":"10.1016/j.ememar.2024.101233","url":null,"abstract":"<div><div>Enterprises engage in rent-seeking with third-party verification authorities (TPs) falsify carbon data has seriously distorted the order of emissions trading system (ETS). Methods of effectively regulating rent-seeking in ETS remain unclear. Based on the analysis of the formation mechanisms of rent-seeking, a tripartite evolutionary game is constructed to explore the interactive behavior of enterprises, TPs, and governments. The important factors affecting the players' behavior were verified using simulation. The results revealed the following: 1) there is a significant correlation between the probability of rent-seeking, probability of acceptation by TPs and the probability of active supervision. 2) based on the evolutionary stability strategy in the game, two kinds of governance mode of rent-seeking are proposed, the market-oriented mode is more efficient than government-led mode; 3) the initial willingness of the tripartite stakeholders, relaxed cost, the penalties for rent-seeking, and the rewards were determined to be critical factors that influence evolutionary results. Finally, the practical countermeasures are recommended to strengthen the collaborative governance of ETS.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101233"},"PeriodicalIF":5.6,"publicationDate":"2024-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How bilateral investment treaties affect cross-border mergers and acquisitions: Novel evidence from China's internationalization
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-30 DOI: 10.1016/j.ememar.2024.101235
Yonghui Han , Hao Cheng , Hao Wang
{"title":"How bilateral investment treaties affect cross-border mergers and acquisitions: Novel evidence from China's internationalization","authors":"Yonghui Han ,&nbsp;Hao Cheng ,&nbsp;Hao Wang","doi":"10.1016/j.ememar.2024.101235","DOIUrl":"10.1016/j.ememar.2024.101235","url":null,"abstract":"<div><div>Utilizing a comprehensive dataset of China and 127 host economies from 2004 to 2019 at both national level and firm level, we investigate how bilateral investment treaties (BITs) between China and global economies affect China's outbound cross-border mergers and acquisitions (CBMA). Our results demonstrate a positive effect of BITs on CBMA and such a promoting effect varies across host countries with different institutional and economic settings. While the most-favored-nation clause and umbrella clause are the underlying mechanisms accounting for the incentives of CBMA in the stage of pre-acquisitions, the expropriation and compensation clause drives the successful rate of CBMA. Further, non-state-owned enterprises display stronger incentive than state-owned enterprises.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"65 ","pages":"Article 101235"},"PeriodicalIF":5.6,"publicationDate":"2024-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
(Un)risky commitments (联合国)风险的承诺
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-26 DOI: 10.1016/j.ememar.2024.101230
Jamila Abubakar, Ahmet F. Aysan, Mustafa Disli
{"title":"(Un)risky commitments","authors":"Jamila Abubakar,&nbsp;Ahmet F. Aysan,&nbsp;Mustafa Disli","doi":"10.1016/j.ememar.2024.101230","DOIUrl":"10.1016/j.ememar.2024.101230","url":null,"abstract":"<div><div>There is increasing concern regarding how uncertainty influences the demand for commitment devices, especially due to the complexity it introduces into the decision-making environment while activating risk preferences. This study examines how the proportion of automated transactions varies on a Nigerian FinTech platform, given exposure to uncertainty and individual risk aversion in two distinct risk-level environments. One environment is risk-free, while the other is characterised by uncertainty about future outcomes. Our findings support the hypothesis that risk aversion varies inversely with the demand for commitment, specifically among low and medium-risk groups. Additionally, we find significant differences in the behaviour of women and the influence of interest rates on automation between the certainty and uncertainty domains. Our findings suggest that behavioural variations across decision environments are influenced by both platform choice sets and potential exogenous factors that may affect income and wealth after automating transactions.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101230"},"PeriodicalIF":5.6,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142743782","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Perceived risks of financial misconduct and fintech in crowdfunding of Vietnamese individual investors 越南个人投资者众筹中金融不端行为和金融科技的感知风险
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-26 DOI: 10.1016/j.ememar.2024.101229
Anh The Khuc , Phuong Thi Hoai Nguyen , Manh Cuong Nguyen , Ha Thu Le
{"title":"Perceived risks of financial misconduct and fintech in crowdfunding of Vietnamese individual investors","authors":"Anh The Khuc ,&nbsp;Phuong Thi Hoai Nguyen ,&nbsp;Manh Cuong Nguyen ,&nbsp;Ha Thu Le","doi":"10.1016/j.ememar.2024.101229","DOIUrl":"10.1016/j.ememar.2024.101229","url":null,"abstract":"<div><div>Crowdfunding is a method of funding a project or venture by collecting small amounts of money from a large number of people – typically via the Internet – which presents both opportunities for financial inclusion and risks to financial consumers. This study aimed to investigate the influence of perceived risks of financial misconduct and fintech on the intentions of individual investors to participate in crowdfunding. The authors employed a quantitative method to gather approximately 900 survey responses, which were subsequently collated for further analysis. The findings indicate that the perceived risk of financial misconduct is a second-order factor that is reflected by four first-order factors: credibility risk, market risk, asymmetric information risk, and financial risk. Similarly, the perceived risk of fintech is a second-order factor that is reflected by three first-order factors: security risk, time-consuming risk, and expense risk. The study reveals that the perceived risk of financial misconduct negatively affects the intention to participate in crowdfunding, while the perceived risk of fintech positively influences the intention to participate. Additionally, the perceived risk of fintech also positively impacts the perceived risk of financial misconduct. Based on these research results, this study proposes policy implications for project owners, investors and regulatory agencies to enhance the quality of crowdfunding platforms. These recommendations aim to protect users from threats and risks associated with using these platforms, thereby improving the overall effectiveness and safety of the crowdfunding environment.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101229"},"PeriodicalIF":5.6,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142744062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does party organization embeddedness boost corporate environmental performance? 党组织的嵌入性是否促进了企业的环境绩效？
IF 5.6 2区 经济学
Emerging Markets Review Pub Date : 2024-11-26 DOI: 10.1016/j.ememar.2024.101228
Xiaoxia Li, Xingye Tao, Jinhua Xu, Jiahua Lin
{"title":"Does party organization embeddedness boost corporate environmental performance?","authors":"Xiaoxia Li,&nbsp;Xingye Tao,&nbsp;Jinhua Xu,&nbsp;Jiahua Lin","doi":"10.1016/j.ememar.2024.101228","DOIUrl":"10.1016/j.ememar.2024.101228","url":null,"abstract":"<div><div>In contrast to corporations in other countries, the role that party organizations play in Chinese firms is distinctly unique. This paper presents empirical evidence of a positive effect of party organization embeddedness on corporate environmental performance. This effect is particularly pronounced for firms operating in regulated industries and those with a stronger cultural system of environmental protection. The study also reveals that the embedding of party organization enhances corporate environmental performance through reducing agency costs and increasing access to environmental subsidies. Overall, this paper emphasizes the importance of the unique arrangement of corporate party organizations in China and provides policy implications for improving the distinct Chinese corporate governance system, promoting green development, and advancing ecological civilization.</div></div>","PeriodicalId":47886,"journal":{"name":"Emerging Markets Review","volume":"64 ","pages":"Article 101228"},"PeriodicalIF":5.6,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142743781","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信