Financial Packages Research Articles

The Effect of Microfinance Bank Services on Women Empowerment: The case for Women Entrepreneurs in Irbid, Jordan (SMEs)

Generally, women, entrepreneurs face problems in accessing funding due to factors that stem from cultural values, ??societal needs, family ties, illiteracy, gender discrimination, strict government policies, economic crisis, and the lack of training in entrepreneurship and skills acquisition that hinders entrepreneurial activities. This study was conducted to examine the impact of microfinance bank services in empowering female entrepreneurship in Irbid Governorate. The study used a cross-sectional survey research design consisting of 20,000 registered businesswomen. A total of 392 working women were selected using stratified sampling technique and the data was analysed using Least Square Structural Equation Modelling (PLS-SEM) with the help of SmartPLS3 software. The results showed that microfinance loans, microfinance savings, and financial interventions or donations had a significant, positive impact on empowering women's businesses in Irbid, Jordan. The study concluded that microfinance deposits could elevate women’s income and act as a guarantee to obtain loans and other microfinance services. Consequently, microfinance institutions (MFIs) should empower more women-owned businesses. In addition, the government through the Central Bank of Jordan should reduce the interest rate of microfinance banks to attract more female entrepreneurs and create more microfinance bank plans and financial intervention packages to enhance financial services to ensure donations and funds reach women entrepreneurs.

A Study of Global Recession Recovery Strategies in Highly Ranked GDP EU Countries

Abstract The Global financial crisis of 2008-2009 severely impacted the developed economies of the world. It occurred at a time when most countries had started gaining economic growth, stability, and vibrance. Each country experienced a jolt to its economy, causing financial fragility, shocks, tragedy, and struggle. Attempts have been made to understand the root causes, economic instability, and the lessons learned from the great recession. Given the current situation of the COVID-19 pandemic, this research paper seeks to examine the global recession, its effect on the economy and finances. Our research is based on the qualitative analysis of comparing the impact of the global financial crisis and strategic recovery recession plans of the top five GDP countries in the European Union-particularly Germany, the UK, France, Spain, and Italy to draw some similarities between a recession and COVID-19 pandemic in terms of the economy. The findings indicate that the great recession had a devastating impact on the entire economy, and the world can learn valuable lessons. It notes that out of the selected five EU countries, Germany was the first to recover and bounce back by 2011, but Italy and Spain were severely hit and took longer to recover only partially. The recession recovery strategies demonstrate some similarities in economic and employment measures and differences concerning tax reforms and financial support packages initiated by all five countries. There needs to be a mechanism in which each country must prepare for untimely recessions. Thus, a developmental model has been created to enable countries to be more prepared when faced with recessions in the future years.

Sudan: Second Review Under the Staff-Monitored Program and Request for Extension-Staff Report; and Statement by the Executive Director for Sudan

The transitional government embarked on a Staff-Monitored Program (SMP) in 2020 to help address major macroeconomic imbalances caused by decades of mismanagement, lay the groundwork for inclusive growth, and establish a track record of sound policies required for eventual HIPC debt relief. The economic challenges facing the authorities remain significant and have been exacerbated by the COVID-19 pandemic, but there have been improvements in both the domestic and external environment. Sudan has cleared its arrears to the World Bank and African Development Bank thereby regaining access to multilateral grant funding. A financing package for the clearance of arrears to the IMF has been identified, and on May 17, 2021 a development partner conference was held in Paris with a side event to promote investment in Sudan.

The Commission's 2020 Proposal for a Markets in Crypto-Assets Regulation (‘MiCAR’): A Brief Introductory Overview

The aim of the present University notes is to provide a brief but comprehensive overview of the European Commission’s proposal for a Regulation of the European Parliament and of the Council “on Markets in Crypto-Assets (…)” (MiCAR), which was submitted on 24 September 2020. It is not based on any articles (out of an already vast existing literature) relating to the subject-area of crypto assets. It exclusively presents, in a systematic way, the recitals and the provisions of the proposed EU legislative act, several of which is reasonably expected that will be amended or even further enhanced by (inter alia) the European Parliament and the Council during the legislative procedure in the coming months. The ultimate expectation is that they could lay down a solid background for further (and apparently substantial) research in this upcoming EU regulatory framework. The nine Sections of the study fully correspond to the Titles of the proposed Regulation. Furthermore, Sub-section 1 of Section I contains a general introduction to this (proposed) legislative act in the context (inter alia) of the Commission’s 2020 “Digital Finance Package”.

LEGAL BASIS OF THE EUROPEAN UNION INFLUENCE ON THE VIRTUAL ASSETS MARKET

The article analyses the legal basis of the European Union (EU) influence on the virtual assets market. It was found that the current EU legislation on the virtual assets is still full of legal gaps and does not ensure proper market regulation because of the early stage of its development. The absence of a unanimous position regarding the virtual assets market regulation forces the EU Member States to apply their own, sometimes contradictory, approaches to market regulation. It disaffirms the basic principles of the European Singe Market functioning, in particular the free movement of goods and services. It was found that according to the current EU legislation, virtual assets may be qualified as payment tokens, investment tokens and utility tokens. Payment tokens may be considered as electronic money or funds. They are covered by the Directive (EU) 2009/110 and the Directive (EU) 2015/2366. For the purposes of anti-money laundering, virtual assets may also be classified as virtual currencies under the Directive (EU) 2018/843. Investment tokens may be qualified as transferable securities or other financial instruments and will therefore fall within the scope of the Directive (EU) 2014/65. Utility tokens are not covered by EU legislation for now. Instead of merely addressing issues and challenges of virtual assets, the European Commission took a broader approach to the future development of the virtual assets market in the EU, and adopted on 24.09.2020 a new Digital Finance Package. At the core of the mentioned Digital Finance Package are the legislative proposals for an EU regulatory framework on virtual assets. This includes the proposal for a Regulation on Markets in Crypto-assets (MiCA) which is designed to provide a comprehensive bespoke regulatory framework for virtual assets in the EU. It was substantiated that MiCA is an ambitious EU legislative project that responds to an urgent policy need. However, further substantial revision of its detailed provisions will be necessary to provide a comprehensive regulatory framework of the EU influence on the virtual assets market.

A high-frequency analysis of return and volatility spillovers in the European sovereign bond market

Using high-frequency data from the MTS trading platform, we examine return and volatility spillover effects across different maturities in the European sovereign bond market over tranquil and crisis periods. The longer-term benchmark securities of core countries are the largest net volatility transmitters, whereas the shorter-term benchmarks of periphery countries are the leading net receivers of volatility shocks. Moreover, the short-end and the long-end of the yield curve in both regions emerge as the sole net recipients of return spillovers. We note that bonds of periphery countries become volatility spillover transmitters during important macroeconomic events such as credit rating downgrades and financial assistance packages to financially distressed countries.

Consequences of school closure on access to education: Lessons from the 2013\u20132016 Ebola pandemic

The COVID-19 pandemic has seen an unprecedented shutdown of society. Among the various safety measures taken, much attention has been given to school closure as a non-pharmaceutical mitigation tool to curb the spread of the disease through ensuring “social” (physical) distancing. Nearly 1.725 billion children in over 95% of countries worldwide have been affected by school closures implemented in April 2020 as the virus continued to spread. In the field of education, policymakers’ attention has been directed at keeping students on board through remote learning and addressing the immediate needs of schools upon reopening. The study presented in this article focuses on who remains absent after schools resume. Using publicly available survey data from the USAID Demographic Health Surveys Program and the UNICEF Multiple Indicator Cluster Survey from before and after the 2013–2016 Ebola pandemic in Guinea and Sierra Leone in West Africa, the author examined changes in school enrolment and dropout patterns, with targeted consideration given to traditionally marginalised groups. At the time, schools closed for between seven to nine months in the two countries; this length and intensity makes this Ebola pandemic the only health crisis in the recent past to come close to the pandemic-related school closures experienced in 2020. The author’s findings suggest that post-Ebola, youth in the poorest households saw the largest increase in school dropout. Exceeding expected pre-Ebola dropout rates, an additional 17,400 of the poorest secondary-age youth were out of school. This evidence is important for minimising the likely post-COVID-19 expansion in inequality. The author’s findings point to the need for sustainable planning that looks beyond the reopening of educational institutions to include comprehensive financial support packages for groups most likely to be affected.

Health care utilization for patients with stroke: a 3-year cross-sectional study of China\u2019s two urban health insurance schemes across four cities

BackgroundStroke is a devastating disease and a major cause of death and disability in China. While existing studies focused mainly on differences in stroke patients’ health care utilization by insurance type, this study assesses whether health utilization and medical costs differed by insurance type across four cities in China.MethodsA 5% random sample from the 2014–2016 China Urban Employees’ Basic Medical Insurance (UEBMI) and Urban Residents’ Basic Medical Insurance (URBMI) claims data were collected across four cities, Beijing, Shanghai, Tianjin, and Chongqing. Descriptive statistics and ordinary least squares regression were employed to analyze the data.ResultsWe found that differences in healthcare utilization and inpatient and outpatient medical expenses varied more by city-specific insurance type than they did between the UEBMI and URBMI schemes. For example, the median UEBMI medical outpatient costs in Beijing (RMB500.2) were significantly higher than UEBMI patients in Shanghai (RMB260.8), Tianjin (RMB240.8), and Chongqing (RMB293.0), and Beijing URBMI patients had significantly higher outpatient medical costs (RMB356.9) than URBMI patients in Shanghai (RMB233.4) and Chongqing (RMB211.0), which were significantly higher than Tianjin (RMB156.2). Patients in Chongqing had 66.4% (95% CI: − 0.672, − 0.649) fewer outpatient visits, 13.0% (95% CI: − 0.144, − 0.115) fewer inpatient visits, and 34.2% (95% CI: − 0.366, − 0.318) shorter length of stay than patients in Beijing. The divergence of average length of stay and out-of-pocket (OOP) expenses by insurance type was also greater between cities than the UEMBI-URBMI mean difference.ConclusionsSignificant city-specific differences in stroke patients’ healthcare utilization and medical costs reflected inequalities in health care access. The fragmented social health insurance schemes in China should be consolidated to provide patients in different cities equal financial protection and benefit packages and to improve the equity of stroke patient access to health care.

The Case for Veteran- Friendly Higher Education in Canada and the United Kingdom

This paper presents the case for greater effort to encourage former armed forces members, otherwise known as veterans, to access and thrive in higher education institutions in Canada and the United Kingdom (UK). By looking at existing research, almost exclusively conducted in the United States (US) and Australia, it proposes that similar efforts should be applied in Canadian and UK contexts. Whereas the US has developed educational opportunities and policies for this community since the inception of the 1944 GI Bill, Australia and Canada seem only now to be increasing attention in this area, while the UK appears not to be doing so at all. Building on this lengthy, primarily US research base and attention, along with nascent investigation and recommendations in Australia, the authors consider how both Canada and the UK might develop similar initiatives. These include targeted marketing and financial packages aimed at veterans, improved monitoring and support for them, and the creation of student veteran and staff associations and other peer support mechanisms. It is argued that this will not just benefit the student veterans concerned, but also the institutions they choose to study with, and the wider Canadian and UK societies they inhabit.

Geological Survey of Queensland: New Economy Resources Initiative geophysics programmes and Cloncurry extension MT results released

The Department of Resources’ recent funding package, the New Economy Minerals Initiative (NEMI) aims to continue to drive exploration and understanding of the range of metals and minerals found in ...

Land Loss with Compensation: What Are the Determinants of Income Among Households in Central Vietnam?

The purpose of this study is to investigate the determinants of household income following the loss of land owing to urban expansion in central Vietnam. Using data mainly from household surveys in the peri-urban areas of Hue city, the regression model indicates that demographic factors and livelihood strategy choices have important impacts on household income; financial compensation and support packages do not appear to be strong determinants of household income after the loss of land. This implies a failure of the current compensation programmes in the process of compulsory land acquisition, because the government believes that compensation packages make important contributions to livelihood reconstruction. This study suggests that investing in education and skill training for household members affected by land loss as well as assistance in converting compensation money into an adequate livelihood should be taken into consideration.

Implications of COVID-19 Induced Lockdown on the South African Tourism Industry and Prospects for Recovery

South Africa has one of the largest and most developed tourism markets in Southern Africa. Consequently, the sector's performance, therefore, has implications on the regional tourism market. In the advent of COVID-19, South Africa emerged as one of the global and regional epicentres of coronavirus infections. In March 2020, South Africa was one of the countries that adopted hard lockdown measures to control the pandemic. The consequent sealing off of the country’s ports brought the tourism industry to a sudden halt. This study is aimed at examining the impact and potential reopening strategies that the tourism industry can adopt in South Africa. The study is based on critical document analysis of survey reports from South Africa’s National Department of Tourism, Stats SA, Google Mobility and other authoritative, relevant sources. The study concludes that the pandemic had a devastating impact on various sectors of the tourism economy. The most devastating industries include the aviation, maritime, special events, accommodation and attraction sectors. The sudden halting of the tourism industry threatened conservation efforts and the business viability of many tourism establishments. Consequently, public and private airlines were liquidated or placed under business administration with far-reaching implications for various destinations and travel sectors. The study recommends a well-engineered financial aid package for the region's tourism industry, reduced tourism levies and taxes backed by the adoption of stringent health protocols to help the industry recover and make travel appealing and attractive again. A robust vaccination program must support such efforts.

Congress Passes Parity, Increases Some MH Funding

Congress Passes Parity, Increases Some MH Funding

Livelihood outcomes in a cohort of youth with disabilities following participation in an economic empowerment programme in rural Uganda

BackgroundLittle evidence exists on the livelihoods of young people with disabilities in low- and middle-income settings. ObjectiveThis study examined employability and livelihood outcomes among a cohort of youth with disabilities who participated in an economic empowerment programme in rural Uganda. MethodsProspective cohort of youth with disabilities participating in an economic empowerment programme in rural Uganda. Livelihood outcomes of participants were assessed through structured interviews at baseline (n = 297) and again at 12 months (n = 252) and analysed using chi-squared tests and generalized estimating equations. ResultsOf 297 participants at baseline, 144 (48%) were women and the mean age was 21.7 years. At 12 months follow-up, participants were significantly more likely to have a job (OR 3.04, 95% CI 2.10–4.39); to have accessed finance (OR 5.52, 95% CI 3.18–9.56); and experienced community support (OR 2.23, 95% CI 1.51–3.29) compared with baseline. There were no statistically significant changes in having enough money for food or in having experienced community discrimination. ConclusionsThe findings suggest that targeted vocational skills training, apprenticeships scheme and a start-up financial package may improve the livelihoods of young people living with disabilities in rural African settings.

Influence of COVID-19's active cases on Malaysia's key economic performance indicators

The COVID-19 outbreak was a rare and unprecedented phenomenon. Hence, the pandemic forces the world economy to react unpredictably. Governments worldwide have undertaken several precautions, including social distance measures, public awareness programs, policies on testing and quarantine, and financial aid packages. Using endogenous growth theory, this paper examines the impact of COVID-19 towards Malaysia key economic indicator's performance using univariate regression analysis based on daily time series data from 1 January 2020 to 30 September 2020. Besides, this paper is also forecasting the upcoming three months of Malaysia's key economic indicator performance from October to December 2020, by using linear trend forecasting model. The results indicate that COVID-19 significantly impacted the unemployment rate, gross domestic product (GDP), consumer price index (CPI), foreign exchange rate (FOREX), and stock market index performance in Malaysia. The results of projecting the upcoming three months trends were forecasted to increase unemployment, GDP, FOREX, and stock market index performance. Instead, the CPI is expected to decrease. Furthermore, this paper provides four contributions in the later section.

COVID-19 and the Indian Textiles Sector: Issues, Challenges and Prospects

The Indian textiles sector has been one of the worst hit sectors due to the COVID-19 crisis. In the context of its socio-economic primacy for the Indian economy, which is second only to agriculture, the industry must be given sufficient attention in academic and policy circles. This perspective is an earnest attempt at filling the void in scholarship on the issue of linkages between the Indian textiles sector and the COVID-19 crisis. The unprecedented crisis in the form of COVID-19 flu pandemic has threatened to derail the socio-economic life of people globally. In the current context, this article discusses the impact of COVID-19 on the globalized Indian textiles sector, given the primacy of the same with regard to social and economic realms of the country. The study employs the method of assessing the impact of crisis from both demand and supply sides, which in turn generates a combined impact. It is found that the crisis has manifold implications for this vital industry. Be it from the angle of consumer demand or production networks, the calamity has made its presence felt across different processes of the sector. Given the multiplicity and depth of these influences, it becomes imperative for the stakeholders, namely government, industry and the citizens to evolve innovative and valuable measures to contain the negative fallout from the crisis on this vital business. Failure to do so could imperil scores of jobs and livelihoods and impede economic growth. While the exact impact and combative strategies may be dynamic and evolutionary as and when the crisis unfolds, the study pieces together diverse aspects of the fallout of COVID-19. The analysis emphasizes on the need to think ‘out of the box’ for tackling this unprecedented crisis. Some of the probable solutions to tackle the crisis could be relaxation of tax compliance deadlines and rules, especially for the lower economic strata, so that consumer demand conditions do not deteriorate precipitously. Also, a more comprehensive financial package than the ones already announced (read: Atmanirbhar Bharat Abhiyan), factoring in labour and export-intensive sectors of the likes of textiles, could be announced to stem the negative fallout of the pandemic on the sector. The other major step could be concessions to exporters against the Remission of Duties or Taxes on Export Products scheme so that they are reimbursed for the hitherto unpaid duties and taxes.

APA’s Government, Policy, and Advocacy Update

Back to table of contents Previous article Next article APA & MeetingsFull AccessAPA’s Government, Policy, and Advocacy UpdateSearch for more papers by this authorPublished Online:12 Jan 2021https://doi.org/10.1176/appi.pn.2021.1.36APA’s Department of Government Relations works all year to advocate at the federal and state levels to advance the profession of psychiatry and promote high-quality care for patients. Psychiatric News is starting this regular column to bring you news of APA’s latest advocacy and government relations work.Congress Passes APA-Supported Mental Health Parity Compliance LegislationIn its massive year-end appropriations and COVID relief funding package, Congress passed the Strengthening Behavioral Health Parity Act (HR 7539), for which APA has been advocating for two years. It gives the U.S. Department of Labor (DOL) new powers to regulate and audit health plans to determine if they are in compliance with the 2008 Mental Health Parity and Addiction Equity Act (MHPAEA). President Donald Trump signed the legislation on December 27.The legislation applies to federally regulated ERISA plans as well as state-regulated insurance plans. Among its provisions, the legislation requires plans to perform comparative analyses of their mental health/substance use and medical/surgical benefits and send those analyses to the DOL or a state insurance commissioner in response to complaints or violations. It also requires that Congress receive an annual report identifying plans that are out of compliance with MHPAEA.Congress’s year-end funding package and COVID relief legislation contains several provisions that support mental health programs and initiatives in addition to the new parity law, including: $6 billion for the Substance Abuse and Mental Health Services Administration and $35 million for crisis care and coordination within the Mental Heath Block Grant, as well as increases in funding for several federal agencies that conduct mental health and substance use research.APA Reaches Out to President-elect Biden and Vice President-elect HarrisIn early December, APA CEO and Medical Director Saul Levin, M.D., M.P.A., sent a letter to President-elect Joe Biden and Vice President-elect Kamala Harris, congratulating them on their win and urging them to prioritize responding to the country’s increased demand for psychiatric services. The letter outlined several recommendations for Biden’s first 100 days in office, including improving access to treatment and investing in the mental health system.APA Prepared to Work With States to Introduce Model LegislationAs many states begin their legislative sessions this month, APA is working closely with district branches across the country to protect patient safety and introduce APA’s model legislation.Late last year, APA and its partner organizations finalized model legislation to enforce the holding of the Wit v. UBH decision. The Jim Ramstad Model State Parity Legislation would ensure health plans cover medically necessary care that aligns with practice guidelines and treatment criteria developed specifically by associations like APA. It is similar to legislation that was signed into law in California last year.APA is also working with states to introduce the Psychiatric Collaborative Care model legislation, which would require private insurers to reimburse collaborative care billing codes, and the telehealth model legislation, which would ensure fair reimbursement for psychiatrists who provide telehealth, as well as audio-only service delivery. Half the states have expressed interest in the telehealth model legislation already. APA members interested in learning more can contact APA’s director of state government relations, Erin Berry Philp. ■ ISSUES NewArchived

'We Might not Be Citizens but We Are Still People': Australia’s Disregard for the Human Rights of International Students during COVID-19

Globally, in 2020, the health, social and economic consequences of lockdown laws that were enacted to contain the pandemic disproportionately disadvantaged temporary migrants. In his now infamous statement to visa holders in March 2020, the Australian Prime Minister contrasted “good times” during which “it’s lovely to have visitors to Australia” with “times like this” in which non-residents were no longer welcome in Australia. Despite its relative global affluence, Australia excluded temporary visa holders from virtually all government wage subsidies and other financial support packages. Against the backdrop of Australia’s human rights obligations to migrants in its territory, this article empirically examines the impact of Australia’s response to the pandemic on international students in Australia, the largest group of long-term temporary visa holders who, with their limited work rights during their studies, have become a de facto low wage migrant workforce in this country. It presents new large-scale data from a July 2020 survey of over 5,000 international students and recent graduates reflecting widespread inability to pay for essential needs (including food and medical needs), lack of access to secure housing, lack of access to emergency support, and their experiences of racism, discrimination and social exclusion in Australia during the pandemic. The article concludes that there must be a national and global reckoning with the immediate and long-term impact of government policies on migrants during the pandemic and reinvigoration of the relevance of the human rights framework during “times like this”.

“The Rule of Law Mechanism” and the Hungarian and Polish Resistance: European Law Against National Identity?

Similarly to the rest of the world, the COVID-19 pandemic has also hit the European Union (EU) severely. In order to foster the process of the economic recovery of EU Member States, the EU Member States agreed on a financial aid package combined with a regulation – the conditionality mechanism – that provided for financial sanctions in the event of a breach of the rule of law. Given that the positions of Poland and Hungary in the adoption process of this regulation caused a controversy, this article examines general questions on the rule of law, the regulation and the background to the controversy.

The Innovative Response of the European Union to Managing the Digital Finance

On 24 September 2020, the European Commission (EC) adopted its proposal for the Digital Finance Package. The 168-page document includes a digital finance strategy and a strategy for retail payments, as well as a bill on a European Union (EU) regulatory framework for cryptocurrencies and a EU framework for digital financial resilience. The Commission has proposed the first piece of legislation on crypto-assets (digital value or rights displays that can be stored and sold electronically). The Markets in Crypto-assets (MiCA) Regulation will boost innovation while preserving financial stability and protecting investors from risk. The regulation creates a clear legal situation and legal certainty for issuers and providers of cryptocurrencies. The new rules will allow economic operators licensed in a Member State to provide their services throughout the EU. The required collateral includes capital requirements, asset retention requirements, a mandatory investor complaint procedure and investors’ rights vis-à-vis the issuer. Issuers of cryptographic assets with significant asset coverage (so-called ‘stable cryptocurrencies’) would be subject to stricter requirements (for example in terms of capital, investor rights and supervision). In July 2021, the European Central Bank (ECB) decided to launch the digital euro project. This does not necessarily mean that the issuance of a digital euro, but a preparation for its possible release. Interoperability with private sector payment solutions is an important consideration in the development of the digital euro, facilitating pan-European solutions and additional services for consumers. The “triple” procedure of the adoption of MiCA can take 18–24 months, during which the legislators may introduce further amendments so that the final version of the legislation may differ to some extent from the draft proposed by the Commission and it will also take years to create a digital euro after the ECB made its final opinion about it.