Ce document examine les effets de l'inflation, du taux d'intéret nominal et de leur incertitude sur les dépôts et les avances des banques conventionnelles et islamiques du Pakistan. L'objectif ...principal de ce document est d'examiner si les effets des deux types d'incertitude different pour les banques conventionnelles et islamiques. Pour effectuer l'analyse empirique, des données annuelles couvrant la période 2008-2015 pour un échantillon de 25 banques sont utilisées. Pour surmonter le probleme de l'hétéroscédasticité de l'ensemble de données, la méthode d'estimation des moindres carrés généralisés (GLS) est appliquée. Nous constatons que le ratio d'adéquation des fonds propres, la taille des banques, le taux d'inflation, l'incertitude du taux d'inflation et l'incertitude des taux d'intéret ont des répercussions importantes sur les dépôts des banques conventionnelles. Nous constatons également que si les variations inattendues du taux d'inflation ont des effets positifs, les variations inattendues du taux d'intéret ont un effet négatif sur les dépôts des banques conventionnelles. Dans le cas des banques islamiques, seuls le ratio d'adéquation des fonds propres, la taille de la banque et le taux d'inflation ont un impact significatif sur la croissance des dépôts. Les résultats révelent également que le ratio d'adéquation des fonds propres, le risque de crédit, la taille de la banque, le taux d'inflation, le taux d'intéret et son incertitude ont des répercussions importantes sur les avances des banques conventionnelles. Pourtant, nous montrons que les variations inattendues du taux d'intéret ont un effet positif sur les avances des banques conventionnelles. En ce qui concerne les banques islamiques, le ratio d'adéquation des fonds propres, le risque de crédit, la taille de la banque, le taux d'inflation et le taux d'intéret ont tous des répercussions importantes sur les avances.
This paper develops a small open economy model where a strong liquidity preference causes persistent stagnation and shows that a decline in the world real interest rate worsens the stagnation if the ...rate is already low enough.
•This paper analyzes persistent stagnation in a small open economy model.•The cause of persistent stagnation is a strong liquidity preference.•A fall in the world real interest rate worsens stagnation if the rate is already low.
This paper is critical of the conceptual foundations and methodology adopted by Smithin (2020) in his exploration of the impact of different interest-rate policy rules on inflation. His modelling ...framework is too narrow to adequately discriminate between different interest-rate rules in terms of their broader macroeconomic impacts.
Small and medium-sized enterprises (SMEs) are the primary victims of the COVID-19 outbreak because they lack adequate resources and are poorly prepared for such interruptions. For SMEs to expand, ...they need financial assistance such as loans and advances from financial service providers. However, they struggle to repay these loans and advances because they are small in size and do not make large turnovers, and owners lack adequate financial literacy. This study aims to investigate the relationship between financial literacy and loan repayment of SMEs. The study followed a positivist paradigm, and a quantitative approach was employed. A total of 110 self-completed Likert questionnaires were distributed, only 107 were filled correctly and analyzed using SPSS. The results from Pearson’s correlation coefficient showed a strong and significant relationship between financial literacy and SME loan repayments at r = 0.324, P < 0.0005. Regression analysis showed a significant linear relationship between financial literacy and SME loans repayments, F (1.152) = 17.806; P < 0.0005. P < 0.0005 is less than the independent variable (SME loans repayments), B = 0.324, P < 0.0005. The results imply that if SME owners are well-versed in finance, they will be capable of repaying outstanding loans and advances timely.
In this paper we study the optimal management of an aggregated pension fund of defined benefit type, in the presence of a stochastic interest rate. We suppose that the sponsor can invest in a savings ...account, in a risky stock and in a bond with the aim of minimizing deviations of the unfunded actuarial liability from zero along a finite time horizon. We solve the problem by means of optimal stochastic control techniques and analyze the influence on the optimal solution of some of the parameters involved in the model.
This paper analyzes the effects of parliamentary election cycles on the Turkish banking system. Using annual bank-level data representing all banks in Turkey during 1963–2007, we present evidence of ...meaningful differences in the structure of bank assets, liabilities and financial performance across different stages of the parliamentary election cycle. However, we find that government-owned banks’ behavior does not meaningfully differ from that of either domestic and foreign-owned private-sector banks before, during or after elections. Our estimates also show that government-owned banks underperform both domestic and foreign-owned private-sector counterparts.
Interest and inflation rates are among the most important economic indicators of any country. Inventory management is also known as one of the most critical components of supply chains and logistics ...systems. This study conducts a comparative study to analyze the combined effects of interest and inflation rates on inventory systems in different countries as part of macroeconomics. To do so, a novel inventory model is developed by accounting for interest rate, inflation, and increasing linear demand over time which affect inventory costs. In terms of the main parameters, the developed model is divided into two groups, where each group is solved separately. The results demonstrate that Venezuela, Sudan, Zimbabwe, Iran, and Liberia are the five countries with the most potential volume of hoarding of goods. These countries should increase their interest rates by at least 118.06%, 22.42%, 7.84%, 10.84%, and 6.94%, respectively, to counter the increasing amount of hoarding. Moreover, the findings reveal that Venezuela, Zimbabwe, Iran, Sudan, and Turkey, have the highest cost of inventory systems.
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