Global Economic Conditions Research Articles

Gender, health, and labor in Thailand's medical hub

As global economic and political conditions shift, Asian countries have placed technologies at the center of their development strategies, fostering new levels of wealth and expertise, but also generating new inequities. Among the most successful of these state-supported strategies have been efforts to develop and invest in new medical technologies, and recruit patients willing to travel across national borders for health care, in a process known as medical tourism. Medical tourism has afforded countries like Thailand greater wealth and prestige, and can also increase disparities for people in destination countries by encouraging specialized and privatized services catered towards wealthier patients. However, sparse research has focused on how these state strategies to promote medical tourism affect the health outcomes of people in destination countries, nor on the gendered labor that supports these state strategies. This article fills these gaps by analyzing medical tourism in Thailand as a gendered techno-development strategy, or a state-sponsored initiative which incorporates gendered labor and technologies, while also creating gendered health inequities. The article bridges a political economy approach to global health with gendered analyses of health and labor. The analysis draws on 14 months of ethnographic fieldwork in Thailand, conducted in 2016 and 2017–2018, and in-depth interviews with 62 participants. It illuminates the gendered labor relations that help foster state development strategies such as medical tourism, as well as gendered health outcomes for people in a destination country.

Causality Analysis of the Brent Oil Prices, the Gold Prices and the Exchange Rates (USD/IDR) on Indonesia Composite Index (Empi rical Study January 2016 – April 2021)

Global economic conditions are in turmoil due to the COVID-19 pandemic since 2019. Many policies are implemented to suppress the spread of the virus, which then has an impact on economic activity. It influences investors' attitudes and changes the choices in investing. This study aims to analyze the causal relationship between the Indonesia Composite Index (ICI) and gold prices, oil prices and the exchange rate (USD/IDR). This study used monthly data for the period January 2016 – April 2021 with an analysis of the Vector Error Correction Model (VECM), which is a restricted VAR model with the Eviews 10 tool. The long-term VECM estimation results show that Brent oil prices and gold prices have a negative effect while the exchange rate (USD/USD) IDR) the ICI. The Granger causality test shows that the ICI has a one-way causality relationship with the exchange rate (USD/IDR).

SPILLOVER EFFECTS OF QUANTITATIVE EASING ON EXPORTS IN EMERGING MARKET ECONOMIES

The impact of unconventional monetary policies adopted by advanced economies in the wake of the Global Financial Crisis has had far reaching implications for global economic conditions. Although several transmission channels of quantitative easing to financial market and exchange rate conditions have been identified, there is a lack of empirical investigation on the spillover effects to exports for emerging market economies. The research presented in this paper focuses on assessing the asymmetric transmission of unconventional monetary policy in the US on exports for fifteen emerging market economies. Employing the panel ARDL (Autoregressive Distributed Lag) model, we find that the increase in large-scale asset purchases in the US corresponds to a decline in exports in the emerging market economies. The effect on exports is more sizable in the Fragile Five than in the other 10 emerging markets. Finally, although monetary policy shocks from the US transmit to impact trade in emerging markets, the effect is asymmetric. Specifically, the tapering of the quantitative easing does not have a statistically significant effect on exports.

Volatility of clean energy and natural gas, uncertainty indices, and global economic conditions

Existing studies rely on exogenous drivers to improve the accuracy of the volatility forecasting of the least polluting fossil fuels, natural gas. However, the academic literature lacks a comprehensive analysis on the factors driving the volatility of clean energy stock indices, although the transition to renewable energy sources has resulted in the emergence of the clean energy sector as a fast-growing sector very appealing to environmentally responsible investors. This paper examines the ability of five uncertainty indices and seven global economic conditions to predict the realized volatility of clean energy stock and natural gas markets. Using daily return data of four exchange-traded funds to track the performance of the global clean energy stock market and natural gas prices, we construct the monthly realized volatility and apply various methods, including shrinkage methods. We find that both uncertainty indices and global economic conditions successfully predict clean energy realized volatility. The shrinkage methods consistently outperform dimensionality reduction methods and combination forecast methods for clean energy and natural gas. Whether clean energy ETFs or natural gas are used, the predictive information extracted from global economic conditions outperforms uncertainty indices using shrinkage methods. This suggests that real economic activities rather than text-based measures of uncertainty should be considered when investors and policy-makers analyze the volatilities of clean energy and natural gas. We further investigate the forecasting power of uncertainty indices and economic conditions in terms of variable selection, market conditions, and seasonality effects.

PENGARUH GOOD CORPORATE GOVERNANCE DAN STRATEGI BERSAING TERHADAP KINERJA KEBERLANJUTAN PERBANKAN

Global economic conditions that are full of uncertainty mean that companies must have good governance and business strategies in order to survive. This is also an important issue for the banking world. Banking is a business that prioritizes public service and trust. But the case of the bank scandal that broke out resulted in public distrust of the credibility of banks. Bank credibilty greatly affects the sustainabilty of banking. The population used is banking company listed on the Indonesia Stock Exchange year 2015-2019 with a total sample of 200 samples. This study uses multiple linear regression analysis. The purpose of this study is testing the bank credibility by analyzing the influence of good corporate governance and competitive strategy on sustainability performance using a balanced scorecard consisting of financial performance, customer performance, internal business process performance, learning and growth performance, social and environmental performance. The difference in this study compared to previous studies is to use a balanced scorecard to assess the sustainability of banking by adding social and environmental aspects. The result of this study are GCG has a positive effect on financial performance, internal business process performance, growth and learning performance. GCG has no positive effect on customer performance, social and environmental performance. Differentiation has a positive effect on financial performance, internal business process performance, growth and learning performance, social and environmental performance. Differentiation does not affect customer performance.

The Effect of Emotional Intelligence on the Organizational of Citizenship Behavior in Banks in Makkah Al Mukarramah Kingdom of Saudi Arabia: أثر الذكاء العاطفي على سلوك المواطنة التنظيمي في البنوك بمدينة مكة المكرمة بالمملكة العربية السعودية

The vision of the Kingdom of Saudi Arabia 2030 focused on the human element as a sustainable competitive advantage in light of global economic conditions and the increasing intensity of competition. Therefore, organizations seek to follow strategies to attract highly qualified human resources, and have characteristics, the most important of which is emotional intelligence because of its impact on raising the efficiency of workers’ performance and increasing their productivity. It is considered a skill that is worth investing in effort, time and money and developing it. (Al-Qahtani, 2018). Emotional intelligence drives individuals to adopt individual behaviors that are not authorized and not directly recognized by the institutional system, which is known as organizational citizenship behavior This research project highlights the knowledge of the impact of emotional intelligence on organizational citizenship behavior What is the effect of emotional intelligence. organizational citizenship behavior of bank employees in the city of Makkah Al-Mukarramah, Kingdom of Saudi Arabia ? The study relied on the descriptive analytical approach, and an electronic questionnaire was used, where the researcher distributed to a random sample of bank employees in the city of Makkah Al-Mukarramah, Saudi Arabia (120), and 60 questionnaires were received, and one of the most important results reached by this study is the presence of an impact of emotional intelligence on The behavior of organizational citizenship for employees working in banks, and a rise in the level of emotional intelligence with an arithmetic average (4.29), and also indicated the high degree of practicing organizational citizenship behavior among bank employees, which reached an arithmetic average of (4.30). The study recommended following the correct scientific methods in selecting and appointing new employees in the bank, and including emotional intelligence and organizational citizenship behaviors among the important criteria for reaching senior positions.

ФОРМИРОВАНИЕ ИМИДЖА ПРЕПОДАВАТЕЛЯ ВУЗА В ЦИФРОВОМ ИНФОРМАЦИОННО-КОММУНИКАЦИОННОМ ПРОСТРАНСТВЕ

Digital environment is a field of presentation of social, personal, professional image and means of inter-institutional and inter-personal communication, which are subject to transformation in constantly changing global economic and geopolitical conditions. All these circumstances impose specific requirements on the professional life of academic staff and reflect the need of competent reflection of academic staff portfolio in digital information and communication space. Moreover, the need for the presentation of comprehensive information about the university academic staff and their professional competencies is explained by the requirements for corporate websites of higher education institutions and obligatory information about their teaching staff. This requires a systematic step-by-step work aimed to form a positive image of a university. The purpose of the work is to substantiate and develop the formation of the image of a member of the academic staff in digital environment. The authors analyzed the corporate websites of 18 universities and conducted a survey of 138 students. The respondents shared their views on the importance of digital competencies of the faculty, on the image information about the faculty member, his personal, socio-cultural, professional-corporate images. The aspects of image management in modern conditions were determined. The types of teacher's activity and their representation through digital channels were investigated. The article presents a model for the formation of a teacher's image in the digital information and communication space, the innovative aspect of which is the model’s content-functional module and its development.

РОЛЬ ТЕОРІЙ ПРОСТОРУ У ФОРМУВАННІ СУЧАСНОЇ ІНФРАСТРУКТУРИ

In the current conditions of economic globalization, there are interesting transformations of the role and place of individual industries in the economic complex. Infrastructure plays a very important role in these processes. The article is devoted to the study of the characteristics of modern regional space. The article provides a historical digression of the influence of space theories on the formation of the modern concept of "infrastructure". The definition, which came into scientific circulation in the XIX century, today plays a crucial role - the unification of all production, economic, social, economic processes in the world. Beginning its path of formation in the seventeenth century, thanks to the emergence of new opportunities in the Enlightenment, humanity was able to start from the problems of solving the supply of agricultural products to cities to achieve global economic development. Deepening knowledge of "distance" and "time", the need for theoretical approaches in the implementation of optimal urban planning, rapid industrialization led to the emergence of objects that were grouped in the future by areas of application, outlining the types of infrastructure - industrial, social, transport, information, etc. Space theories by such scholars as A. Smith, R. Cantillon and P. Stewart, von Tunen and W. Launhardt, and others. were the primary sources of deepening knowledge in solving problems of rational urban planning, which as a result of globalization of socio - economic processes has had far - reaching consequences, where modern infrastructure is the key to viability. A comparative analysis of industrial and post-industrial paradigms of regional development is carried out, which allows to substantiate the laws of evolution of economic space. Relationships between the development of "space theory" and the modern formation of the concept of infrastructure have been established. The evolution of the theory of features of spatial systems functioning is analyzed. It is concluded that the concept of "infrastructure" serves to ensure the effective functioning of society.

Impact of Tourism Growth and FDI on Economic Growth: Evidence from South Asian Countries

Nowadays, economic growth has again gained global attention because of the uncertainty in global economic conditions and attracts the focus of regulators and recent research studies. In this scenario, this study examines the role of tourism growth and foreign direct investment (FDI) on the economic growth of South Asian countries. This study has used the interest rate and population growth as the control variables. The secondary data has been extracted from the world development indicators (WDI) from 2001 to 2020. The fixed effect model (FEM) and generalized method of moments (GMM) are run to test the linkage among the variables. The results expose that tourism growth, FDI, interest rate, and population growth have a positive and significant effect on the economic growth in South Asian countries. The results provide guidelines to the regulators and furnish policies regarding economic growth for tourism growth.

Analysis of Integration of the Indonesian Sharia Stock Index with Developing Countries

<p><em>Globalization is rapidly causing an integration of economic and financial systems worldwide, resulting in shocks to the Islamic stock index and reducing the benefits of diversification for investors. Therefore, this study analyzes the integration, influence, response, and contribution of shocks to each developing country’s Islamic stock index. Specifically, analyzing the effect of developing country sharia stock index shocks on Indonesia's sharia stock index. The study uses monthly time series data for 2011-2021 with samples from Indonesia, Turkey, Malaysia, Pakistan, Kuwait, and India using the Vector Error Correction Model (VECM) method. The results showed cointegration or a long-term relationship in the developing countries’ sharia stock index. The Malaysian Islamic Stock Index and the Indian Islamic Stock Index influence the Indonesian Islamic Stock Index. Furthermore, the Indonesian Islamic Stock Index stabilized the fastest in response to the Turkish Islamic Stock Index shocks. However, the Malaysian Islamic Stock Index shock contributes the most to the Indonesian Islamic Stock Index. Developing countries could improve the infrastructure of the Islamic stock index and policy reforms. This would minimize the impact of international stock index shocks and accelerate integration. Investors should consider the dominant economic strength, geographical factors, and trade relations in determining portfolio diversification in global economic conditions.</em></p><div class="notranslate" style="all: initial;"> </div>

Determinants of Bank’s Resilience in Emerging Market: SEM PLS Approach

The banking industry is one of the industries that plays a role in global economic conditions, thus the resilience of the Bank is very important. The purpose of this study was to determine the effect of Bank Competition, Good Corporate Governance (GCG), and Bank Performance on Bank Resilience in Emerging Market. This research is a quantitative study by taking bank data listed on the Indonesia Stock Exchange during 2015-2019. This study used panel data and applied regression analysis with the Structural Equation Modeling (SEM) approach. The findings state that only the Bank Performance was the only variable that is significant for Bank Resilience, while the other two variables were not significant.

How knowledge and uncertainty affect strategic international business investment decisions: Implications for cross-border mergers and acquisitions

Changes in country-level and global economic conditions create numerous challenges for firms expanding internationally. Country-level changes such as volatility in GDP growth, increasing regulations, and/or inflation may influence temporal periods of static or declining markets and often drive an inward contraction of focus. Conversely, global-level changes such as expanding markets often drive an outward expansion of focus as firms adjust to opportunities created by changing conditions. However, given increasing technological interconnectedness and global economic interdependencies, firms may better leverage their knowledge of such factors to improve international business investment decisions. We hypothesize how firms seeking international expansion adjust based on changes in their environment through both the frequency and value of their cross-border M&A (CB M&A) activity. Our findings from a sample of pre- and post-CB M&A activity using data on the 2008–2009 financial crisis outline how firms’ strategic international business decisions incorporate knowledge and uncertainty regarding country and global economic fluctuations.

PENANGANAN PEMBIAYAAN MURABAHAH BERMASALAH DI BPRS AL FALAH BANYUASIN PADA MASA PANDEMI COVID-19

This study aims to determine (1) the inhibiting factors that affect the financing of problematic murabahah found at BPRS Al Falah Banyuasin during the covid-19 pandemic. (2) Handling problematic murabahah financing carried out at BPRS Al Falah Banyuasin during the covid-19 pandemic. This study uses a qualitative research type. This research is descriptive research. The population in this study were several employees and customers of BPRS Al Falah Banyuasin. The data analysis technique in this study uses a way of analyzing and assessing all relevant data and facts obtained from the selected object and quoting from generally accepted theories and provisions then from the results of the analysis the author tries to draw conclusions that represent the existing problems. The results of this study the authors conclude that: (1) The obstacles in murabahah financing at BPRS Al Falah Banyuasin are the ability to pay from customers, global economic conditions, human resources, customer character, completeness of documents or administration, and customer delays in paying installments. (2) Handling murabahah financing at BPRS Al Falah Banyuasin, namely billing on the principle of kinship, giving warnings or reprimands, rescheduling (Rescheduling), reconditioning, restructuring.

The Role of Agile Managers’ Practices on Banks’s Employees Performance in The Kingdom of Bahrain

This paper explores the significance of managers' impact on the level of employee success in the banking sector in the Kingdom of Bahrain, the contribution of managers to successful banks as agile managers, and argues that management reform in a crisis such as the Covid-19 pandemic can be done well by managers. The banks positively by managers who possess the employees' imagination and technical innovation skills, which makes the employees capable of facing the different types of challenges and difficulties they encounter in an unexpected or anticipated way, who constitute vital components in the continuity and progress of the organizational transition in a volatile economy. With the arrival of the Covid-19 pandemic, institutions all over the world have attempted to respond successfully to transition, and banks have been especially hard hit by self-responses. These methods, however, have shown for agile management the potential to excel under and survive global economic conditions. This paper examines current research on the role of bank managers in the positive development of internal change during crisis situations. The findings revealed that assisting managers in the private banking industry is critical to instilling a sense of transformation in other direct and related parties within the company. As a result, this paper leads to clarifying successful employee assessment by inspiring managers to them which led to the performance of the most effective managers from the old conventional managers who were happy with the banks after these new circumstances that inspired new managers to the imagination and innovation through prior expectations.

Beyond the Boom: Dependent Development and Political Change in Argentina (2010–2015)

The integration of Latin American countries into the global economy has historically proceeded through the export of primary commodities, a dependency that has long exposed them to developments in core industrial nations, changing terms of trade, and “resource curse” externalities. However, in the early 2000s, a new commodity boom coincided with the arrival of left-of-centre administrations across the region forwarding post-neoliberal visions of development where extraordinary export rents were destined to expand public spending and progressive welfare policies. While the relationship between Latin America’s left turn and this latest boom has been well-covered in the literature, much less has been said about developments in the 2010s, when the end of that boom sent many of these projects tumbling, fuelling political discontent and facilitating the arrival of conservative administrations in places like Argentina, Brazil, and Ecuador, among others. Thus, this article explores the relationship between global integration and political change by looking at the case of Argentina, and developments during the second presidency of Cristina Fernández de Kirchner (2011–2015), when falling agricultural commodity prices aggravated social tensions and political conflicts as the government sought to navigate a “governance puzzle” through which it attempted to square high public expectations for revenue redistribution with falling fiscal collection. In particular, we analyse the co-evolution of global economic conditions, macroeconomic disequilibria, and domestic political pressures, considering how this led the government to lock itself into a distributive conflict pattern that dissatisfied both opposition sectors and important segments of its support base. As such, this case study illuminates the structural challenges confronted by governments in developing economies pursuing ambitious developmental and socially-progressive agendas, while elaborating the political implications that current account and fiscal disequilibria may produce in these contexts.

Capital Adequacy Challenges in Facing Economic Conflicts in Banking Institutions

The banking sector is one of the sectors that is affected by the economic instability. The function played by the institution in assisting the economic volatility of a country is through capital adequacy and liquidity requirements. Capital adequacy has a direct effect towards income generation. However, as a result of the volatile global and Malaysian economic conditions, particularly because of the outbreak of Covid-19 pandemic, Bank Negara Malaysia (BNM) has given leeway to the banking institutions for the Liquidity Coverage Ratio (LCR) to be below 100 percent. Meanwhile, in recent years, the banking sector’s LCR was more than the targeted 100 percent. The question arises whether the decline in LCR parameters to below 100 percent is suitable to be implemented by all banking institutions? It is certain that with the reduction of LCR, liquidity risk caused by lack of funding at a reasonable cost to finance the operations of the bank and provide liabilities at the required time will definitely be faced by the bank. The ability to comply with the expected and unexpected cash flow requirements will be affected, thereby creating liquidity risk and increase in credit risk.

Change in the Structure of the Accommodation Capacity of the Czech Hotel Industry under Conditions of Economic Globalization

As our research has shown, the number of foreign tourists visiting Czechia rose in the period between 2012 and 2017, as did hotel occupancy and accommodation prices. The growth of the local economy, the new airlines from Asia and the USA to Prague, and the perception of the Czech metropolis as a safe destination, played a big part in it. Compared to other accommodation facilities, the number of 5- and 4-star hotels is still growing in Czechia, thus better meeting the needs of demanding tourists. According to experience and statistical data, these are non-European tourists and tourists with above-average income. The growth in the number of these tourists had a strong influence on the increase in the number of hotels and the increase in the capacity of the highest-category hotels. Building new, quality hotels, and renovating historical buildings to a higher standard to provide an outstanding experience for foreign tourists staying in Czechia, can contribute to achieving the sustainability of the tourism sector in the country. Also mentioned is the current impact of the coronavirus pandemic on tourism in Czechia. A statistical analysis of time series of indicators and hypothesis testing were the main methods used in the study.

Long-term and short-term liquid fuel security in Australia – What role for the Great Australian Bight?

This article hypothesises that Australia's long-term and short-term liquid fuel security will not be improved by the exploitation of petroleum resources in the frontier Great Australian Bight (GAB) basin. This analysis demonstrates that significant challenges arise regarding Australia's energy policy which promotes the development of the GAB, due to corporate imperatives, global economic conditions, and localised challenges such as depth, distance, and prevailing weather. Furthermore, the closure of over half of Australia's refineries has placed structural demands on Australian refinery capacity. Therefore, even if oil were to be found in the GAB and developed, Australia's current policy approaches to downstream refining capacity mean that any oil discovered would likely be exported. Short term, such policy frameworks would cause a significant deficit in Australia's International Energy Agency (IEA) stockpile capacity, requiring the leasing of oil stocks from the US Strategic Petroleum Reserve to meet IEA demands. Given these insecurities, this article postulates that Australia's energy security policy, and particularly its liquid fuel security policy, should be revisited, revised, and reformed to ensure liquid fuel security for all sectors of the economy.

PRIORITY DIRECTIONS OF PRECARIOUSNESS PROBLEMS RESEARCH

The presented research work deals with the multidimensionality of investigations on the problems of precariousness and precarization through recent period of time. The approaches of domestic and foreign scholars on the content of the study, sources of formation and political consequences of strengthening the processes of precariousness in modern societies have been systematized. The interpretation of the phenomenon of precariousness in narrow and broad senses has been identified. It’s been noted that important determinants of the transformation of socio-political structure of states in postmodern era are the changes within system of global and national production, the spread of network formats of organization of production and labor, the demand for international and national business flexible forms of labor organization. The priorities of scientific research through the first quarter of the 21st century in the analysis of changes within structural nature of the socio-political representation of wages-based labor in new conditions of global economy and geopolitics have been revealed. It is determined that the growth of youth unemployment due to structural transformations of manufacture and employment system, the introduction of restrictive and often discriminatory measures against migrants on the background of intensifying slogans of economic and political nationalism exacerbate the problem of social stability and political predictability, that contributes to the renaissance of populist movements and parties, in particular, either left or right bias. The research potential for the analysis of precarization processes in the world as a whole and in some particular countries of specialized reports and projects of international organizations has been identified. It is important that international organizations are not limited to educational and analytical functions on unemployment and social stability, but also make efforts to stabilize the workforce, in particular within the UN, the International Labor Organization (ILO), such associations like the EU, OECD and other international and regional organizations. Assessment of trends and manifestations of social instability and uncertainty in the analysis of the impact of the COVID-19 pandemic, both at the global level and in some countries and regions, is carried out through the measuring processes of industries and services restructuring; increasing share of flexible forms of employment, freelance, "zero contracts", strengthening of new social statification.

The Philosophy and Authentication of Welfare Equalization in the Islamic Economy

The promise of the welfare of the capitalist economic system initiated three centuries ago is only realized for the owners of capital. Even in 2017 in The Great Devide, Joseph E. Stigliz reported increasingly alarming data that the wealth of 1% of the world's population is equivalent to 99% of the world's population. This article aims to describe: (1) The concept and philosophical value of welfare in Islam, and (2) historical authentic evidence of the creation of welfare in Islam. To obtain representative and comprehensive data, this article is compiled based on primary and secondary data. The Central Bureau of Statistics reports economic developments regarding the development of people's welfare in Indonesia and reports from world institutions such as the IMF, World Bank, as a comparison of global economic conditions. The data is then discussed under ideal conditions recorded in the golden history of Islam to find that prosperity in an Islamic economy is capable of being realized. The contribution of articles among scientific studies that discuss welfare is about concrete explanations or clear standards of welfare attainment. Namely, the nominal wealth to be called prosperous, an applicative and systematic method of achievement, and the affirmation that the Islamic economic system has proven to be effective in creating prosperity. Through the presentation of this article, it is hoped that efforts to create prosperity as well as equalize welfare will always be pursued through the application and contextualization of a proven and tested economic system.