India: Yes Bank Restructuring, 2020, Salil Gupta

Journal of Financial Crises

Yes Bank was suffering from liquidity outflows in the second half of 2019 owing to a combination of deposit withdrawals, invocation of pledged shares, losses from extraordinary credit provisions, and overexposure to stressed sectors like power and infrastructure. In December 2019, Yes Bank reported a Common Equity Tier 1 capital ratio at 0.6%, far below the Reserve Bank of India (RBI) mandated levels, and a quarterly loss of 185 billion Indian rupees (INR; USD 2.5 billion). In early March 2020, the RBI and the Ministry of Finance announced a restructuring plan for India’s fourth-largest private bank, Yes Bank, to prevent …

Coordination Within And Across Two Cultures, Gabriele Camera, James Gilmore, Marilyn Giselle Hazlett, Jason Shachat, Bochen Zhu

ESI Working Papers

We study within- and cross-culture interaction in a Stag Hunt game, using a controlled online experiment with Chinese and American participants. We find that cross-culture interactions can have a positive impact on efficiency. American participants, particularly females, more frequently selected the efficient but risky action when facing a Chinese counterpart. Chinese male participants, instead, less frequently selected the efficient but risky action when facing an American counterpart. These behavioral asymmetries do not support the notion of cultural equivalence, nor the hypothesis that multiculturalism fosters strategic uncertainty.

Average Child Care Costs In Nevada And The Mountain West, 2024, Monserrat Cristando-Romo, Maryam Raja, Annie Vong, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet reports data on the average costs of child care in the five most populous cities in each Mountain West state and the ten most populous cities in Nevada based on the “2020: ACS 5-Year Estimates Data Profiles” United States Census Bureau (Salt Lake City, UT; Albuquerque, NM; Denver, CO; Phoenix, AZ; and Las Vegas, NV). The original report from care.com provides child care data for all U.S. cities to assess the costs of child care nationally.

Thoughts On Fostering Industries Of The Future Based On Innovation Infrastructure Clusters, Qingli Huang, Ziwei Zhao, Can Wang, Weihua Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Industries of the future (IoTF) are characterized by a distinctive whole chain and high scientific and technological content, and as an important carrier to support the innovation activities of industries of the future, the construction and layout of innovation infrastructures, such as large scientific devices, major scientific and technological innovation platforms, pilot bases, etc., will inevitably develop towards whole chain clustering. This study tries to explain the basic concept of innovation infrastructure clusters for industries of the future, sort out the practices and results of fostering industries of the future based on innovation infrastructure clusters in some regions in China, …

Establish Policy Ecosystem That Supports Technological Innovation And Leads Construction Of Modern Industrial System, Cheng Zhou, Xiaoyi Peng, Wen Xie, Chidong Zhang, Yuhe Qiu, Fan Wu

Bulletin of Chinese Academy of Sciences (Chinese Version)

To harness the leading role of science and technology innovation and accelerate the construction of a modern industrial system, it is necessary to establish an innovation policy ecosystem that coordinates science and technology, education, economics, and social policies. Compared with this demand, China’s current science and technology innovation policy still needs to be further improved in terms of policy horizontal and vertical coordination, industrial technology research organization mechanism, innovative enterprise subjectivity, industry-university-research cooperation innovation incentives, and resource allocation marketability. In response to these issues, five suggestions are put forward, namely, (1) set up an innovation policy coordination and review agency …

Theories, Status Quo, And Suggestions On Scientific And Technological Innovation As Driver Of Developing Emerging Industries, Xiaoyan Zhang

Bulletin of Chinese Academy of Sciences (Chinese Version)

The emerging industry is the key to fostering new growth drivers and developing new advantages. It is also an essential guarantee to reinforce the resilience and security of China’s industrial chain and supply chain, and seize the initiative of future development. This study, based on the theoretical foundation and practical needs of “scientific and technological innovation as the driver of developing emerging industries”, summarizes the typical practices of innovation and development of emerging industries in countries including the United States, Japan, and Singapore. In addition, the study identifies the difficulties faced by China in the developing emerging industries, and raises …

Empowering Traditional Industries With Digital Intelligence For Transformation And Upgrading, Jiyuan Zang, Huanyong Ji, Qingxue Huang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Traditional industries are the basic support and driving force for the high-quality development of the economy. Digital intelligence is an important lever for traditional industries to achieve the transformation of old and new kinetic energy and the leapfrogging of the global value chain. This study firstly deconstructs the rich connotations of digital intelligence from the perspectives of digitalization, networkization, and intelligentization. Secondly, it analyzes the transformation mechanism and various pathways through which digital intelligence impacts traditional industries. Thirdly, it analyzes the barriers faced by traditional industries in the process of adopting digital intelligence technologies. Finally, this study puts forward four …

Innovation And New Quality Productivity, Yongnian Zheng, Lanmeng Xu

Bulletin of Chinese Academy of Sciences (Chinese Version)

China is in a critical period of promoting high-quality development and advancing Chinese modernization. This paper attempts to clarify the relationship between innovation and new-quality productivity and provide a potential development direction for China to lead a modernized industrial system by developing new-quality productivity through innovation. The study proposes that the development of new quality productivity through innovation requires serious consideration from three dimensions. First, it is important to figure out where new technologies come from. Second, it is essential to investigate where new industries come from. Third, a feasible solution has to be formulated based on China’s reality. The …

Analysis Of Demand And Recycling Potential Of Lithium, Cobalt, And Nickel Under Energy Transition Emdash From Perspective Of Electric Vehicles, Xiong Ying, Shouyang Wang, Yuyao Yang

Bulletin of Chinese Academy of Sciences (Chinese Version)

With the rapid growth of demand for lithium, cobalt, and nickel, China, the United States, and the European Union have classified them as critical minerals. This study investigates the rise of China’s and the global electric vehicle industry in relation to the demand for lithium, cobalt, and nickel, forecasts the potential for recycling these metals, and evaluates the challenges to resource security of these metals faced by China. The findings underscore the necessity of enhancing international collaboration in mineral extraction abroad and enhancing capabilities to safeguard overseas assets and equity. The study advocates for expediting the establishment of an electric …

Suggestions For Promoting Green Science And Technology Finance In China Under New Development Pattern, Wei Zhang, Xuemeng Liu

Bulletin of Chinese Academy of Sciences (Chinese Version)

The new development pattern poses dual challenges to China’s existing financial system. In order to meet the challenges, the financial system needs to vigorously promote the development of green technology finance. To fulfill this, it is necessary to promote the system linkage and digitization of green technology finance, as well as to optimize the product structure of green technology finance. To promote the systematic linkage of green technology finance, it is necessary to promote the linkage development between direct and indirect financing methods of green technology, as well as the linkage development among the financial market of green technology, industrial …

Insights On Strategy And Approach For China To Construct A Modern Integrated Circuits Industrial System, Ximing Yin, Beibei Zhang, Tailun Chen, Jiang Yu, Jin Chen

Bulletin of Chinese Academy of Sciences (Chinese Version)

The integrated circuit (IC) industry is highly complex and systematic, and its key core technology breakthroughs are highly dependent on the support of systematic capabilities. The West especially the United States has accelerated the promotion of the “small-yard, high-fence” strategy, the “New Washington Consensus”, the “de-risking”, and other systematic policies to curb China’s rise. China’s IC industry chain is facing extreme risks such as rupture or blockage. Meanwhile, facing the new mission and requirements of Chinese modernization and new-quality productivity, China needs to accelerate the modernization of the IC industry with new development paradigms, new strategies, and new approaches. Based …

Deep Integration Of Technological Innovation And Industrial Innovation In Modern Industrial System: Inspiration From Global New Generation Lithography Systems, Jiang Yu, Feng Chen, Yue Guo

Bulletin of Chinese Academy of Sciences (Chinese Version)

Utilizing technological innovation to lead the construction of a modern industrial system is a strategic choice for seizing the opportunities of the new round of technological revolution and industrial transformation. It is also a necessary step for winning the strategic initiative towards high-level self-reliance and self-improvement. Technological innovation is the intrinsic driving force behind industrial innovation, and industrial innovation is the value embodiment of technological innovation. The deep integration of technological innovation and industrial innovation is the key to constructing and improving a modern industrial system. Taking the global extreme ultra-violet (EUV) lithography system as an example, based on the …

Strategic Study On Leading Construction Of Modern Agricultural System By Technology Innovation, Yan Yan, Xurong Mei, Xiudong Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Technology innovation is the fundamental solution to build a modern agricultural system, and it is also an important support for building the large base, large enterprise, and large industry of modern agriculture and achieving the modernization of material equipment, technology, management, agricultural informatization, and sustainable resource utilization of agriculture. This paper explains the scientific concepts and logical relationships of the agricultural production system, industrial system and management system, which are the main components of a modern agricultural system. It emphasizes that ensuring food security, promoting industrial integration and upgrading, and cultivating leading enterprises are current key tasks. Nevertheless, from the …

Indian Mutual Fund Industry: Is 2014 A Turning Point?, Shobhit Goel, Pawan Kumar

Bulletin of Monetary Economics and Banking

Indian Mutual Fund Industry has experienced a nearly 40-fold increase in assets under management since the start of the 21^st century, which has implications for the financial sector and the wider economy. Using structural break models, we identify 2003-08 as a nascent growth phase followed by a tepid growth phase in the post-global financial crisis period. Since 2014, the industry has experienced accelerated growth, outpacing global peers, driven by consistent individual investor inflows in equity and hybrid categories. Supportive regulatory policies introduced in 2012-13, we argue, have boosted the industry’s growth.

Impact Of Crises On Indian Financial Markets, Pami Dua, Divya Tuteja

Bulletin of Monetary Economics and Banking

We investigate the effect of crises on Indian financial markets including the short-term and medium-term money, government securities segments, equity and currency markets. Specifically, we study the effects of the COVID-19 pandemic, the Eurozone Sovereign Debt Crisis and the Global Financial Crisis on market returns, volatility and cross-correlations. We employ a (a) vector autoregressive model to analyse the effects of those shocks on returns and (b) multivariate ADCC-GARCH specification to examine the impact on conditional volatility and dynamic conditional correlation in the markets. We find significant effect of the Global Financial Crisis and the pandemic on the dynamics of the …

India And The Rest Of The World: Analyses Of International Monetary Policy Spillovers, Afees A. Salisu

Bulletin of Monetary Economics and Banking

The US is India's largest trading partner, followed by the European Union. Our study, using the GVAR model, shows that a US monetary policy (MP) shock results in a depreciation of the Indian currency vis-a-vis the dollar. This is due to Indian investors preferring to invest in the US, which provides higher returns during a US MP shock. The Eurozone MP shock does not have a significant impact due to the increasing dollarization of the Indian economy. However, the US MP shock propagation diminishes when there is economic policy uncertainty. Our findings have implications for monetary policy conduct in India.

Do Digital Payments Spur Gst Revenue: Indian Experience, Surender Kumar

Bulletin of Monetary Economics and Banking

This paper measures the effect of digital payments on enhancing goods and services tax (GST) revenue in India using monthly time-series information on tax collections and digital payments. By employing an autoregressive distributed lag cointegration framework, we find that the GST elasticity concerning digital transactions is about 0.54. The implication is that a one-standard-deviation increase in the value of digital transactions spurs GST revenue of about INR 62 billion, and a one-standard-deviation increase in index of industrial production (IIP) enhances GST revenue by about INR 8 to 12 billion. These results suggest that enhancing digital transactions is an effective way …

One Island, Two Worlds: An Investigation Of The Diverging Economies Of The Dominican Republic And Haiti, Daniel Espinal

Business and Economics Summer Fellows

An investigative study into the diverging economies of the Dominican Republic and Haiti. A greater focus is placed on the divergence point of the 1960s where two authoritarian leaders both ruled the country.

Cover Cropping: How Sustainability And Economics Can Work Hand In Hand, Emma Reyes

Business and Economics Summer Fellows

Research finds that over half of the agricultural lands worldwide have been moderately or severely affected by soil degradation (Kopittke et al., 2019). This problem is further heightened by the fact that many farmers are concerned about the profitability of sustainable practices. As a result, this may lead to an increase in the practice of more harmful conventional agricultural techniques if they continue to be considered more economically beneficial in comparison. This paper aims to see if the use of a specific sustainable practice known as cover cropping can help to increase the level of economic benefits farmers receive. Cover …

The Examination Of The Mathematical Calculation On Premium Reserve Modifications For Endowment-Life Insurance Products, Farisa Salwa Fatimah, Debrina Ferezagia, Wira Darmiza

Jurnal Administrasi Bisnis Terapan

Insurance offers numerous advantages in managing the diverse dangers it encounters. The level of compensation provided is contingent upon the magnitude of the premium remitted. A fraction of the premium collected by the company must be allocated as a premium reserve to ensure that the company will not have any challenges in settling future claims. The calculation of premium reserves is performed through the utilization of prospective and retrospective reserve methods, which rely on net premiums as the foundation for the computation. The premium reserve calculation approach employs both the Canadian and Full Preliminary Term methodologies. The objective of this …

Essays On Life Cycle Skill Growth And Wage Dynamics: Understanding The Impact Of Skill Levels, Personality Traits, And Job Search, Tommas Trivieri

Electronic Thesis and Dissertation Repository

My thesis is divided into three chapters that study various aspects of human capital, job search dynamics, and wage growth over the life cycle.

Chapter 2 examines how personality traits impact the wages of low-educated men throughout their working lives. The empirical findings reveal economically and statistically significant wage gaps associated with personality traits across the life cycle. For example, highly extraverted early-career workers earn, on average, 18 log points more than their highly introverted counterparts, while highly agreeable mid-career workers experience average wages 24 log points lower than highly disagreeable mid-career workers. Motivated by these empirical findings, I estimate …

Black-Owned Businesses In The Mountain West, 2017-2020, Riley Ruff, Miguel Soriano Ralston, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet examines data on Black-owned businesses in the Mountain West states of Arizona, Colorado, Nevada, New Mexico, and Utah. The report “Who is driving Black business growth? Insights from the latest data on Black- owned businesses" from the Brookings Institution includes data on Black-owned businesses in metropolitan statistical areas (MSAs) across the United States.

The Influence Of System Optimization On Improving The Quality Of Administrative Services In The Ministry Of Education, Culture, Research And Technology, Mohammad Ridha, Dhini Novia Azaria

Jurnal Administrasi Bisnis Terapan

ABSTRACT

Correspondence and record management are crucial components of a company or institute. Although often considered as things that do not require primary attention, these two components can have a very important role in the occurrence of an event. Along with the development of technology, the management of correspondence and archives is also growing. Generally, the development of this management is in the form of the emergence of an application that can accommodate the needs of correspondence and archives of a company or institute. In Ministry of Education, Culture, Research, and Technology, the application is called "Sistem Naskah Dinas Elektronik" …

Can Financialisation Counteract Banking Exclusion? A Study On The Example Of The European Union Member States, Tomasz Florczak, Marika Ziemba

Journal of Banking and Financial Economics

The purpose of the article is to assess the relationship between financialization and banking exclusion. The research hypothesis that financialization contributes to the reduction of financial exclusion was also verified. The research was based on an analysis of the variables describing financialization and banking exclusion of 27 European Union countries in the 2014–2021 period. The zero-unitarization method and Pearson’s correlation coefficient were used. The results of the study indicate that a high degree of financialization is found in Croatia, Greece, Cyprus and Portugal. In contrast, the level of banking exclusion is the highest in Finland, Sweden, the Netherlands and Latvia. …

Consumers’ Financial Literacy In Poland - The Research And The Resulting Conclusions, Andrzej Bień, Łukasz Gębski

Journal of Banking and Financial Economics

Background & Purpose of the article: The research paper raises important issues in the field of consumer financial literacy in Poland. The authors note that efforts made in financial education are not fully effective and the number of wrong decisions made by consumers is high. The study led to two interesting observations: high self-assessment of knowledge is not confirmed in practice. The mistakes made do not result solely from the lack of knowledge of consumers. They are very often a result of their personality and a way of perceiving reality.

Methods: The authors compared Polish and foreign research results in …

Role Of China’S Belt And The Road Initiative In Global Development Finance, Srinivasa Madhur

The Journal of International Relations, Peace Studies, and Development

China’s Belt and the Road Initiative (BRI), introduced in 2013 by China’s President Xi, has been a major milestone in global development finance. Resonating with the historical ‘Silk Road”, BRI attempts to connect many countries and continents around the world. Matching its humongous size of nearly $1 trillion, it covers about 165 countries around the world. Even as the BRI benefitted some of the recipient countries, it has built a mountain of debt among many developing countries. This paper suggests an efficient, equitable, and representative method of resolving the BRI debt-distress through the formation of a BRI Club, which should …

Cyclical Interest In Entrepreneurship And The Virginia Economy, Daniel Farhat

Journal of Business & Entrepreneurship

This study uses keyword search data from Google to construct an index representing broad interest in entrepreneurship in Virginia. Dynamic correlations are evaluated to identify how short-term movements in the index relate to employment and earnings, leading economic indicators, home prices and business applications. Results support opportunity-driven mindsets in the labor market but not in the real estate market. The index is shown to have some economic prediction power, and is capable of producing new insights compared to data from actual business activity. This study highlights the role entrepreneurial interest may play in policy and lays the groundwork for further …

Energy Security Of Ukraine: External Threats From The Russian Federation, Valeriia Lymar

Yearbook of Antitrust and Regulatory Studies

A country’s energy security is an important component of its overall national security, as energy supply is essential for the functioning of its national economy and the livelihoods of its population. The purpose of this research is to develop practical tools for analyzing the condition of Ukraine’s energy sector, and to provide practical recommendations for potential development and integration into the single European energy system. The practical value of the research findings is that the SWOT-analysis (Strengths – Weakness – Opportunities – Troubles) of the energy sector of Ukraine which makes it possible to identify the most acute problems and …

Enter Stage Left: Immigration And The American Arts, K. Pun Winichakul, Ning Zhang

Economics: Faculty Publications

To what extent have immigrants contributed to the growth of the United States arts sector? In this paper, we explore the impact of immigration during the Age of Mass Migration on the development of the arts in the U.S. over the past century. In the short run, our results suggest that immigration helped produce greater numbers of native artists. Over a century later, the bene- fits to the arts persist. Counties with greater historical immigration house more arts businesses and nonprofit organizations that generate more revenue, employ a larger proportion of the community, and earn more federal arts grants. When …

Relationship Between Real Exchange Rate And Consumption In Nigeria: A Nonlinear Approach, Babangida Jamilu S., Sanusi Aliyu R., Yusuf Isah M.

CBN Journal of Applied Statistics (JAS)

This study analyses the relationship between real exchange rate and domestic consumption in Nigeria using the Smooth Transition Autoregressive (STAR) model from 1981Q1 to 2019Q4. Findings show that domestic consumption determines the regime shift in real exchange rate, suggesting a nonlinear linkage with clearly distinct regimes. The lagged exchange rate is shown to have a significant linear effect on the current exchange rate. On the other hand, current foreign consumption is positive but has no significant impact on the exchange rate in the linear part of the model. In the nonlinear part of the model, evidence of a significant negative …