Effects Of Financial Globalization Research Articles

Bridging shores: Leveraging green finance, financial globalization, and human capital for a cleaner environment in G-20 marine ecosystems using the fishing ground capability curve theory

The G-20 nations, that are industrializing at the fastest rate in the world, are dealing with serious environmental issues, particularly those pertaining to marine habitats. Because economic activity is affecting these environmental and marine ecosystems drastically, it is necessary to probe the factors that can promote sustainable development in developed and developing nations. Thus, understanding the possible effects of financial globalization (FG), green finance (GFN), and economic expansion on marine health is paramount. The study uses advanced methodologies to examine potential intersections between economic growth (GDP) and FG on the marine ecosystem of the G-20 countries between 2000 and 2022 in the context of fishing grounds load capability Curve (FGLCC) framework by showing a nonlinear relationship between marine conditions and income levels. Human capital is exerting positive impacts of (5.640–6.743 %) but FG is impacting (-4.182 to −5.490) on FGLCC. Furthermore, the work emphasizes the necessity of policies that strike a balance between the G-20's marine environmental sustainability and economic development, stressing the significance of deliberate legislative and strategic interventions. It is necessary to enact laws that favor sustainable fishing methods rather than focusing solely on boosting GDP through intensive fishing. Possible actions may involve allocating resources towards research and development in efficient fishing techniques, advocating for the adoption of environmentally friendly fishing equipment, and helping for the adoption of technologies that minimize unintended catch and damage to habitats. These discoveries have important ramifications for marine policymakers as they tackle marine environmental issues in the face of economic development. They are essential for improving marine requirements and safeguarding the health and well-being of future generations.

The Effect of Financial Globalization on Economic Instability: The Case of the Global Financial Crisis

Objective: Financial globalization has become a phenomenon that influences economic dynamics at the global level. The impact of financial globalization on economic instability, especially in the global financial crisis, presents complex challenges and requires in-depth understanding. This research aims to investigate the impact of financial globalization on economic instability, especially in the context of the global financial crisis.
 
 Theoretical Framework: The research began by looking at the dynamics of financial globalization that are currently occurring. After that, we will look at the various driving factors that cause economic instability. After the existing factors have been explored, we will examine the impact of this instability on economic development. Only then in the next stage will we look at the policy response to the global financial crisis. This research then concludes by looking at future challenges and opportunities for economic development.
 
 Method: The research method used is a descriptive qualitative approach, where data is obtained from the results of relevant research and previous studies. It is hoped that this data analysis will provide in-depth insight into the complexity of the impacts of financial globalization.
 
 Results and Conclusion: The research results show that adaptation to global economic changes is a necessity. International cooperation in managing financial risks is also of key importance. In conclusion, integration of sustainability dimensions in global economic policy is necessary, while understanding the challenges and opportunities faced by global society.
 
 Originality/Value: This research contributes to a holistic understanding of global economic dynamics and provides a basis for developing more sustainable and responsive policies in the future.

What are the effects of economic globalization on CO2 emissions in MENA countries?

This paper explores whether economic globalization is (de)carbonizing the MENA region. Based on a comprehensive econometric analysis including ARDL and NARDL models for a panel of 17 MENA countries over the 1980–2018 period, it reveals the existence of asymmetric long-term impacts of economic globalization on CO2 emissions. As economic globalization increases, CO2 emissions increase, but the effect is much stronger for trade globalization than for financial globalization. On the other hand, the decrease in globalization has no effect. The study also shows that, the effects of financial globalization are different between OPEC and non-OPEC MENA countries. It appears that financial globalization pushes OPEC MENA oil-exporting countries to reduce their CO2 emissions with the transfer of technologies and the development of their financial market. These different results between OPEC and non-OPEC MENA countries allow us to propose differentiated policies for these two groups of countries. • In the MENA region, economic globalization has asymmetrical environmental impacts. • Globalization is carbonizing whereas deglobalization has no effect on CO2 emission for MENA countries. • The effect of globalization on CO2 emission is much stronger for trade globalization than financial globalization. • Financial globalization increases CO2 emissions in non-OPEC MENA countries and helps OPEC MENA countries to reduce them.

Asymmetric linkages between renewable energy consumption, financial integration, and ecological sustainability: Moderating role of technology innovation and urbanization

Despite their economic success, the BRICS countries have yet to achieve environmental sustainability. On the other hand, these countries will not be able to maintain their economic expansion if they do not protect the natural environment. In this regard, this paper intends to assess the effects of financial integration (globalization) on ecological footprint. The paper also considers other ecological footprint drivers, including economic expansion, urbanization, renewable energy and technological innovation. The research utilizes a dataset spanning from 1990 to 2018. The study employed the method of moments quantile regression (MMQR) approach, which is robust to cross-sectional dependence and slope homogeneity issues. The outcomes from the MMQR disclose that the effect of financial globalization on ecological footprint is positive across all quantiles (0.1–0.90), thus validating the pollution haven hypothesis (PHH) in the BRICS nations. Furthermore, both renewable energy and technological innovation curb ecological footprint across all quantiles (0.1–0.90). Moreover, technological innovation is proven to impact the environment positively across all quantiles (0.1–0.90) via the path of urbanization. As a result, technological innovation is projected to help the BRICS nations achieve sustainable urbanization. The DOLS, FMOLS, FE-OLS outcomes also validate the outcomes of MMQR. Based on these results, policies were proposed.

The effect of financial globalization and natural resource rent on load capacity factor in India: an analysis using the dual adjustment approach.

Currently, the most crucial economic and ecological issues are related to environmental degradation and sustainability. On this backdrop, this paper examines the impact of financial globalization and natural resource rent on load capacity factor, using the novel dual adjustment approach and time-frequency domain causality approaches, in the case of India. This study contributes to the extant body of knowledge in the area of environmental economics. First, it is the first attempt to analyze the factors responsible for load capacity factor, specifically for India. As such, studies on environmental concerns on both the supply and demand sides are put into consideration. Empirical results show that only renewable energy consumption lessens the load capacity factor, while economic growth and financial globalization are positively correlated with the load capacity factor, and natural resource rent is insignificant in the short run. In the long run, only economic growth is negatively correlated with load capacity factor, while the other series positively influence load capacity factor. To reap greater ecological merits, policymakers should focus on transitioning from conventional non-renewable energy sources that contribute to rising carbon emissions to more cost-effective and dependable renewable sources of energy that support sustainable growth and a healthy environment.

Impact of Financial Globalization on Environmental Degradation in the E7 Countries: Application of the Hybrid Nonparametric Quantile Causality Approach

Despite their economic success, the E7 countries have not been able to provide environmental protection. These countries, on the other hand, will not be able to maintain their economic progress if they do not also protect their natural resources. In this regard, the goal of this research is to examine the impact of financial globalization on CO2 emissions in the E7 countries. Utilizing a quarterly dataset between 1990Q1 and 2018Q4, we applied the novel quantile-on-quantile regression (QQR) and nonparametric causality in quantiles approaches to assess these interconnections. Furthermore, the quantile cointegration outcomes revealed cointegration between financial globalization and CO2 in each of the E7 nations. Furthermore, the QQR outcomes disclosed that in the majority of the quantiles, the effect of financial globalization on CO2 is positive for Brazil, China, India and Turkey, thus validating the pollution-haven-hypothesis. Moreover, for Indonesia, Russia and Mexico, in the majority of the quantiles, the effect of financial globalization on CO2 is negative, therefore validating the pollution-halo hypothesis. Moreover, the novel causality in quantiles approach disclosed that financial globalization can predict CO2 emissions for the E7 nations. Therefore, any policy channeled towards financial globalization will have a significant influence on CO2 emissions in the E7 economies. In light of these significant observations, the research suggests that Mexico, Russia, and Indonesia should be more financially interconnected, whereas China, India, Turkey, and Brazil should reevaluate their financial globalization policies.

Financial implications of globalization and new technologies Ukraine international relations

Research background: The world will change radically after the COVID-2019 pandemic. The transformation of financial globalization is already taking place. It contributes to the emergence of new international relation’s forms, institutions, technologies of interaction. All these trends necessitate a revision of the basic Ukraine concepts on convergent integration into the international financial space. Purpose of the article: To identify effects of financial globalization in Ukraine and characteristics of digital human interaction; to define an expansion of digital health principles for the elimination of the population’s cognitive skills atrophy and to offer new information convergence technology, financial autonomy and identity of the country in global financial market. Methods: The methods of divergence and convergence, rationality and irrationality – to find effective tools for regulating international financial relations in Ukraine; methods of cognitive data analysis – to determine forms, directions of Ukrainian society digital hygiene; conceptualization of consequences and duality of results evaluation – for clarity of reflection of a modern development condition for а society emotional intelligence and levelling of Ukraine dependence on financial hedonism in the world. Findings & Value added: This search for regulation methods is based on a hybrid combination of global professional achievements in the regulation of financial markets, author’s work, applied projects to stabilize the financial system and priority measures to balance the development of the national economy of Ukraine. This approach will increase the effectiveness of financial relations and solving socio-economic problems at the national and international levels, while ensuring the achievement of national priorities and interests.

Effect of Financial Globalization on Bank Risk: Role of Rollover Risk

This paper investigates the effects of financial globalization on bank risk by highlighting the role of rollover risk. We extend the canonical rollover risk model by allowing an “active” bank manager to choose excessive risk-taking or systemic risk-shifting actions. Financial globalization is characterized by an increase in investors’ opportunity cost, which affects the coordination problem among short-term creditors, and changes banks’ incentives for risk-taking and systemic risk-shifting. The model generates three predictions and we provide robust empirical evidence to verify them: (1) In the short term, financial globalization will induce those banks with more short-term funding to be more risk-taking; (2) The mid-tier banks are more sensitive to the effects of financial globalization and will become more risk-taking than the rest; and (3) In the long term, financial globalization tends to affect the systemic risk in the financial system, but the precise effects depend on the country’s economic fundamentals and institutional quality.

Monetary Policy Transmission in Emerging Asia: The Role of Banks and the Effects of Financial Globalization

Given the heavy reliance on bank lending as the main source of financing in most Asian economies, banks could potentially play a pivotal role in monetary policy transmission. However, we find that Asia?s bank lending channel or, more broadly, credit channel of domestic monetary policy is not very strong at the aggregate level. Using bank-level data for nine Asian economies during 2000?2013, we show that heterogeneity of bank characteristics (e.g., ownership type, financial position), degree of foreign bank penetration of the domestic banking sector, and global financial conditions all have a bearing on the response of domestic credit to changes in domestic monetary policy, and may account for the apparently weak credit channel at aggregate level.

Monetary Policy Transmission in Emerging Asia: The Role of Banks and the Effects of Financial Globalization

Given the heavy reliance on bank lending as the main source of financing in most Asian economies, banks could potentially play a pivotal role in monetary policy transmission. However, we find that Asia’s bank lending channel or, more broadly, credit channel of domestic monetary policy is not very strong at the aggregate level. Using bank-level data for nine Asian economies during 2000–2013, we show that heterogeneity of bank characteristics (e.g., ownership type, financial position), degree of foreign bank penetration of the domestic banking sector, and global financial conditions all have a bearing on the response of domestic credit to changes in domestic monetary policy, and may account for the apparently weak credit channel at aggregate level.

How Financial Crises Affect FDI and Related Macroeconomic Variables

The new literature on the benefits and costs of financial globalization has increased in recent years because of the massive negative effects of the global financial crisis of 2008. While evidence based on microeconomic data shows some benefit of financial integration and the distortionary effects of capital controls, the macroeconomic evidence generally remains inconclusive. Also, some papers argue that financial globalization enhances macroeconomic stability especially in emerging economies, but others argue the opposite. The authors try to argue the effects of financial globalization and global financial crises on macroeconomic stability. This paper probes the effect of the financial crises since 2000 on specific Mediterranean economies including Greece and Turkey, comparatively. The main question to be answered in this paper is how selected macroeconomic variables affected the financial crises in these economies. Another question to be addressed is how macroeconomic variables have been affected by the last global financial crisis of 2008. Moreover, the research is focused on FDI (foreign direct investment) in these selected economies and examines the relationship between the macroeconomic variables and the financial crises. The relationship between relative macroeconomic variables, FDI and financial crises is determined using annual data from 2000 to 2010. The relationships between the indicators are analyzed using AMOS (Analysis of Moment Structures), a structural equation modeling (SEM) software where the model is presented in an intuitive path diagram to show hypothesized relationships among variables easier than just using standard multivariate statistics or multiple regression models alone.

Economic Policy in Chile's New Democracy

The Aylwin and Frei administrations have taken a cautious approach in formulating economic policies. This article analyzes how they have maintained economic stability, fueled sustained growth, and coped with inflows of foreign capital. While achieving successes in macroeconomic policy, export development, and poverty alleviation, Chile also faces challenges, including high social inequality and the increasing difficulty of dealing with the effects of financial globalization.

Associations and Activism: Mobilization of Urban Informal Workers in Costa Rica and Nicaragua

Public Opinion and the Future of U.S.-Panama Relations Using survey data and interviews, this study examines Panamanian attitudes toward the United States and toward the central issues in U.S.Panama relations. It also compares Panamanian attitudes with opinions toward the United States in the rest of Central America. The study finds that nationalism, system support, anticommunism, and, for the mass public, ideology are the most important variables in determining support for the United States. Elites are more nationalistic and less accommodationist toward the United States than the mass public. Concern about the politicization and misuse of the Panama Canal and adjacent lands has led many in the general public to support a continued U.S. military presence on the Isthmus of Panama. Associations and Activism: Mobilization of Urban Informal Workers in Costa Rica and Nicaragua Studies of Latin American civil society tend to assume that popular organizations promote high-intensity forms of political participation while political parties mainly encourage voting. This study compares the influence of these two forces in the urban informal sector. Association involvement, low in both samples, is related to higher-intensity participation, but the differential influence of associations and parties holds only for Costa Rica; Nicaragua's revolutionary FSLN has fostered a more politically active citizenry. Economic Policy in Chile's New Democracy The Aylwin and Frei administrations have taken a cautious approach in formulating economic policies. This article analyzes how they have maintained economic stability, fueled sustained growth, and coped with inflows of foreign capital. While achieving successes in macroeconomic policy, export development, and poverty alleviation, Chile also faces challenges, including high social inequality and the increasing difficulty of dealing with the effects of financial globalization.

Effects of Financial Globalization on Developing Countries - Some Empirical Evidence

Effects of Financial Globalization on Developing Countries - Some Empirical Evidence

Economic Policy in Chile's New Democracy

The Aylwin and Frei administrations have taken a cautious approach in formulating economic policies. This article analyzes how they have maintained economic stability, fueled sustained growth, and coped with inflows of foreign capital. While achieving successes in macroeconomic policy, export development, and poverty alleviation, Chile also faces challenges, including high social inequality and the increasing difficulty of dealing with the effects of financial globalization.