Global Financial Research Articles

2008 economic crisis impact on perinatal and infant mortality in Southern European countries

Abstract Introduction The study of crisis events provides important lessons to prepare for upcoming events. The Great Recession’s impact on perinatal health in Europe can provide relevant insights into the healthcare and social protection systems’ response to protecting the health of the most vulnerable groups. Objectives To assess time trends and international disparities in perinatal mortality rates (PMR) and infant mortality rates (IMR), following the Great Recession, and their association with socioeconomic indicators in Portugal, Greece, Italy and Spain. Methods Associations were assessed through generalised linear models for all four countries. A Poisson joinpoint regression model was applied to explore PMR and IMR trend changes between 2000 and 2018. Country disparities were analysed using mixed-effects multilevel models. Results IMR and PMR have decreased overall in the four selected countries between 2000 and 2018. Still, whereas in Spain, Italy and Portugal the decreasing pace was attenuated after 2009, in Greece a positive trend was found after the 2008 crisis. IMR and PMR were significantly associated with socioeconomic indicators in all four countries. National disparities in the evolution of IMR and PMR were significantly associated with most socioeconomic indicators between 2000 and 2018. Conclusions Our results confirm the impact of the Great Recession on PMR and IMR trends in all four countries, taking recurring associations between macroeconomic cycles, variations in mortality trends, macroeconomic volatility and stagnation of IMR and PMR into account. The association with socioeconomic indicators stresses the need to strengthen social protection and healthcare systems to better protect the population’s health from the earliest days. Key messages • Mortality patterns refer to the internal variability of the crisis’ effect and to persistent spatial regional inequalities appealing to the need for attention in policymaking. • The relevance of considering the political economy of global health finance and macroeconomic volatility as a major influence on the association of mortality rates with socioeconomic indicators.

Climate change and gastroenteritis projections in Albanian children

Abstract Background Human health can be affected by climate in direct and indirect ways. Increasing temperatures may affect ecosystems, water safety, and exposure to waterborne diseases. This is the first work in Albania aiming to demonstrate the link between gastroenteritis rate and climate in the country. This research was supported by UNICEF Albania through the WASH Global Thematic Fund, but it doesn’t necessarily represent UNICEF’s position. Methods Epidemiological surveillance reports of the period 2006-2022 were used for the yearly incidence of gastroenteritis in children 0-14 years old. Years 2020 and 2021 were not included because of pandemic confounding potential. Historic data for calculating the average summer temperatures were retrieved from timeanddate.com repository. Pearson coefficient is calculated to quantify the associations and linear regression is applied to project the increased rate in the future. Results There was a statistical association between gastroenteritis rate and summer temperatures during the study period (Pearson coefficient=0.78, p = 0.001). There was a tendency that in years with hotter summers higher incidence of gastroenteritis was reported by the health system. For each degree (Celsius) increase in the average summer day temperatures, the risk of gastroenteritis in children is expected to increase by 644/100 000 (CI 95%: 317 - 972). An excess rate of 966/100 000 is expected in the case of Intergovernmental Panel on Climate Change medium scenario projection of 1.5o C average temperature increase. That implies more than 4830 additional new cases every year in children 0-14 years old, attributed to climate change in the future in Albania. Conclusions The analysis demonstrated excess gastroenteritis risk may be related to higher summer temperatures observed in Albania. The expected gastroenteritis risk increase in a warmer future should be addressed by improvements in sanitation, education of parents and epidemiological intelligence. Key messages • A warmer climate is expected to affect the health by increasing the risk for diarrheic diseases. • Children will be the most at-risk population category.

Leveraging Marketing Techniques for Disseminating Malaria Messages in Northern Nigeria: A Case Study

Malaria intervention in Northern Nigeria had several gaps because transmission of the disease was aggravated by the warm weather which promoted mosquito breeding, and social determinants like malnutrition, which weakened immune systems, making people more vulnerable to illness. This study examined the application of marketing principles within the Community-led Monitoring (CLM) project, a Global Fund initiative to improve malaria interventions. CLM, among other things, was a development, health communication project that employed principles of marketing to communicate malaria prevention and treatment in some communities across Nigeria. The study used Social Cognitive Theory to analyse how health communication and community engagement influenced behaviour change. The CLM project used the four Ps of marketing – product, price, place, and promotion - to address gaps in existing interventions that focused on preventing and treating malaria. The results showed that the project empowered communities, leading to improved health systems driven by community members. This integration of marketing and health communication effectively mobilised community action and achieved positive health outcomes. Thus, the research demonstrated the potential of combining marketing strategies with health communication to combat important public health issues such as malaria. Considering the CLM model's success, incorporating marketing principles in health communication was recommended.

Evaluation of Quality Online Banking Services Using WASPAS Method

The rapid expansion of the Internet and advances in digital technology have revolutionized traditional banking methods, leading to the emergence of online banking. Online banking enables customers to conduct financial transactions anywhere, anytime, with unprecedented convenience and accessibility. This paper provides a comprehensive analysis of online banking, examining its benefits, challenges and impact on both banks and consumers. Key aspects such as security concerns, customer satisfaction, cost effectiveness and complexity in implementing online banking systems are discussed. Also, how online banking is reshaping the banking landscape, promoting greater competition, financial inclusion and digital transformation in the global economy. The advent of the Internet and digital technologies has fundamentally changed the way financial institutions operate, paving the way for online banking. Online banking, also referred to as internet or e-banking, allows customers to access a wide range of financial services through digital platforms. These services include checking account balances, transferring funds, paying bills and managing investments all from the convenience of a personal device. As customers increasingly demand fast, convenient and secure banking services, financial institutions have responded by embracing digital transformation. The shift to online banking has brought significant benefits such as reduced operational costs, improved customer experience and increased efficiency in financial services. However, along with these advantages, banks also face challenges related to cyber security, customer trust and the need for continuous technological upgrades to meet evolving consumer needs. The importance of research related to online banking lies in its profound impact on the global financial system and its growing relevance in the digital age. Understanding online banking is important for financial institutions, regulators and customers as it changes traditional banking practices and introduces new opportunities and challenges. Technological Advances and Innovations: Online banking is at the forefront of financial technology (FinTech), creating innovations in service delivery. Exploring this area allows for a deeper understanding of how technological advances such as mobile banking, artificial intelligence (AI) and block chain are improving efficiency, customer experience and the competitive landscape of banking institutions. Customer Behavior and Satisfaction: As more consumers shift to digital platforms, research on online banking provides insights into changing customer expectations and behavior. It highlights key factors influencing customer satisfaction, including usability, convenience and trust, helping banks refine their services to meet growing demands for seamless, personalized experiences. Cost Efficiency and Operational Impact: The financial sector has experienced significant cost reductions and operational improvements through the adoption of online banking. Understanding how banks can use online platforms to optimize resource allocation, reduce transaction costs and improve efficiency is critical for stakeholders looking to stay competitive and increase profitability. Security and risk management: As online banking systems become more pervasive, so do the associated risks—especially those related to cyber security. Research in this domain is essential for developing effective security protocols, understanding fraud prevention strategies, and managing data privacy concerns. It ensures continuous improvement of security measures to protect both financial institutions and consumers. Customer Satisfaction (Benefit), Transaction Speed (Benefit, sec), Implementation Cost (Non-Benefit, $000), Security Rating (Non-Benefit). System A, System B, System C, System D, System E.

It pays to be generous: How cooptation transforms power rivalries

ABSTRACT In some cases, hegemonic powers manage to turn dissatisfied (former) rivals into satisfied partners by means of cooptation. Yet, in other cases, similar cooptation attempts result in failure. Why? We argue that the generosity of the hegemon’s cooptation offer is of utmost importance for whether cooptation succeeds or fails to overcome the rivalry with coopted great powers. When hegemonic powers offer a generous cooptation deal, a virtuous circle sets in that may socialize great power rivals into the order dominated by the hegemon. When, by contrast, the cooptation offer is not generous, a vicious circle is likely to develop, which may even exacerbate the great power rivalry. To assess the empirical plausibility of this socialization-by-cooptation theory, we study the cooptation of Germany after World War II, the cooptation of Russia after the Cold War, and the contemporary cooptation of China into the international financial system.

Whether SORF Is a More Effective Substitute for LIBOR in the Market?

This paper examines the transition from LIBOR to SOFR and its impact on financial markets. LIBOR, once a key benchmark rate, has faced credibility issues, leading to the proposal of new benchmark rates like SOFR. The study investigates whether SOFR is a suitable LIBOR replacement and analyzes its effects on financial markets. Using statistical analysis, including covered interest rate parity theory and hypothesis testing, the study compares the accuracy of SOFR and LIBOR in determining the risk-free rate. The findings support the hypothesis that SOFR calculations more accurately reflect real market data compared to LIBOR. However, the study is limited in its focus on the US dollar market, which may limit its generalizability. Future research could explore the transition to alternative benchmark rates in other currencies and regions. Additionally, incorporating real-time data could provide more current insights into SOFR's effectiveness as a LIBOR replacement. Overall, the transition from LIBOR to SOFR represents a significant change in financial markets. Further research is needed to fully understand its implications. Addressing these limitations and exploring future research directions can enhance our understanding of the transition's impact on the global financial system.

'Show me the money': An analysis of US global health funding from 1995 to 2019.

Historically, the US has been the largest contributor to development assistance for health (DAH), although its allocation has shifted in response to outside forces. This included, for example, the establishment of the Millennium Development Goals (MDGs) in 2000, which emphasised child mortality, maternal health, HIV/AIDS, and malaria. This led to funds being earmarked for disease-specific interventions rather than health system strengthening (HSS). In 2007, the World Health Organization (WHO) published six health system building blocks, representing essential components of strong health systems. In 2015, the MDGs were replaced by the Sustainable Development Goals (SDGs), which emphasised capacity-building as opposed to specific health problems. The Lancet Commission on Global Surgery, meanwhile, highlighted surgical capacity building as essential to achieving Universal Health Coverage (UHC). Given the renewed emphasis on a comprehensive approach rather than disease-specific interventions, one might anticipate the US aligning with this rhetoric in its allocation of DAH. However, we hypothesise that this is not the case. We queried the Organization for Economic Co-operation and Development (OECD) database for allocation of US DAH to low- and middle-income countries between 1995 and 2019, thereby excluding data after 2019 to avoid the influence of the coronavirus disease 2019 pandemic. OECD entries were assigned to health systems strengthening (HSS) or disease-specific interventions categories. The WHO building blocks were used as a framework for health systems strengthening. From 1995 to 1999, US DAH allocated to HSS decreased from 42% to 34%. The allocation decreased further from 34% in 2000 to 4% in 2007; correspondingly, DAH allocated to disease-specific interventions increased from 67% to 96%. Between 2008 and 2019, the distribution of US DAH remained relatively stable, with funds allocated to HSS versus disease-specific interventions ranging from 3-12% and 88-98% respectively. While total US DAH contributions in the 1990s and early 2000s were significantly lower compared to the decade that followed, the distribution of these funds was more evenly divided between HSS and disease-specific interventions. Despite attempts by the WHO and United Nations to redirect attention to HSS as the path to achieving UHC, the US continues to largely support disease-specific interventions and overlook the importance of HSS, including surgical capacity building.

The Rise of Digital Banking in the UK Financial Sector and Its Impact on Commercial Banks

In the contemporary financial domain, the emergence of digital banks has revolutionized operational models in traditional commercial banking. This article delves into how digital banks, through advanced technology and customer-centric services, compel commercial banks to revaluate their operational and regulatory frameworks. Specifically, it focuses on the digital banking market in the UK, analyzing how digitalization and technological progress are driving the evolution of competitive dynamics within the financial sector. As one of the worlds foremost financial hubs, the UKs trends in financial market development have profound implications for the global financial system. The British government and regulatory bodies have proactively adapted to these shifts, framing policies that facilitate innovation while ensuring security and compliance within digital banking. This backdrop sets the stage for this report to explore the transformative impact of digital banks on traditional banking models in the UK, aiming to understand the regulatory adaptations and the overall influence of digital entities on the conventional banking landscape.

Credit spread drivers and cross-country connectedness: a study of emerging economies in Asia

PurposeWhile the existing literature lacks a holistic approach to determining credit spreads and is limited to mostly developed countries, this study investigates credit spread determinants and their cross-country connectedness in the context of four emerging economies in Asia by incorporating bonds, market risk, macroeconomic and global factors.Design/methodology/approachThis study utilizes principal component analysis for dimensionality reduction and variable representation. Furthermore, we employ the dynamic conditional correlation–generalized autoregressive conditional heteroskedasticity model to capture the cross-country credit spread connectedness between the variables.FindingsThe findings indicate that market volatilities are the most significant drivers of credit spreads, while global factors play a moderating role. Furthermore, the results provide compelling evidence of cross-country credit spread connectedness, with China as the primary transmitter and Malaysia as the primary receiver among the selected emerging economies.Originality/valueThis study addresses the limitations of previous research by extending the analysis beyond the commonly studied developed economies and focusing on emerging economies in Asia. It also employs a comprehensive approach to determine credit spread and explores cross-country credit spread connectedness in developing economies, thereby shedding light on financial risks and vulnerabilities within interconnected global financial systems.

A GOVERNANÇA CORPORATIVA E SUAS CONTRIBUIÇÕES PARA AS FINANÇAS EMPRESARIAIS: A IMPORTÂNCIA DA GOVERNANÇA CORPORATIVA E DO CHIEF FINANCIAL OFFICER (CFO) PARA AS FINANÇAS EMPRESARIAIS

This article introduce a study about the diferents teories of Corporate Governance, Business Finance Management and Administration and the boss role of Chief Financial Officer (CFO) in strategic processes that contribute to financial resourse planning in organizations. It was a literature review of qualitative way, with the objective of identify the principals concepts about the subject of course taken and its applicability to proposed work. The study provided a conceptual analysis about Global Finance, allowing to identify the tools and metods used and it practical applicability to projects that envolve investment analysis and return to companies. Report about the principals responsabilities of financial manager and administrator represented for Chief Financial Officer (CFO), and his collaboration in strategic plan of organizations. The search it was made of exploratory form provided to get importants results that evidence generated changes in finance area through of Corporate Governance.

Measuring rising heat and flood risk along the belt-and-road initiative

China’s global infrastructure financing flagship, the Belt and Road Initiative (BRI) encompasses countries hosting over 60% of the global population and one-third of worldwide GDP. It is based mainly on long-term loans that will mature decades into the future, and timely repayments are only possible if they remain commercially viable. But despite its vast global scope, little is known about the climate risks that could imperil the operations of BRI projects over the next few decades, and, consequently, threaten their long-term sustainability. We narrow this gap by estimating the impacts of future climate change on 217 BRI projects across 70 countries and 9 sectors in two dimensions. First, the effects of increased heat stress on human physical work capacity are calculated using the wet bulb globe temperature and an assessment of the workload for each selected BRI project. Second, the potential structural damages from more frequent flooding incidents are measured by return period (RP), where a shorter RP signals heightened risk. Both have direct impacts on human productivity and infrastructural integrity, which are essential to maintaining the operational viability and financial stability of BRI projects. We compared projected changes on both measures for the mid- and late-twentieth centuries (2041–2060 and 2081–2100) to the historical baseline (1981–2010). We found that BRI projects face escalating vulnerability to climatic risks on both counts. The results underscore a broad variance across different future carbon emission scenarios measured under the Shared Socioeconomic Pathways (including SSP1-2.6, SSP2-4.5, SSP3-7.0, and SSP5-8.5). BRI’s aggregated climatic risks are substantially elevated under a high carbon emission scenario compared to a low emission scenario. By the end of the twentieth century, labor workability under SSP3-7.0 (31%) could potentially decrease three times more compared to SSP1-2.6 (10%). Under an intermediate-emission scenario (SSP2-4.5), floods with a historical return period of 10 years could have a return period of 5 years in the future. Significantly hampering the utilization and economic return generation potential of infrastructure projects. In addition, regional geography contributes to risk heterogeneity, with 100-year floods occurring every 15 years in South Asia and every 24 years in Sub-Saharan Africa. Such climate risk implications, potentially overlooked by development financiers, represent significant risks to the sustenance of the BRI, estimated to be worth $1 trillion.

Global Green Finance: Roadmap for India

Climate change, and especially, ‘climate deterioration’ is an alarming situation for the global scenario, and thus, the need for developing financial services and products that aim to reduce the effects of these changes is the need of the hour. This long-felt need has given birth to a new form of investing, known as green finance or broadly, sustainable finance. So, it can be said that green finance is a subset under the larger umbrella of the concept of sustainable finance. This article tries to bring to the knowledge of the readers the basic understanding of the concept of green finance, its various instruments available globally and its developments at the global and Indian level, highlighting the three stages of green finance’s evolution and its major theories. Further, it reveals the global presence of major green finance instruments like green bonds and its types, green mutual funds (MFs) and green stock exchanges. The article also deals with the concepts of emissions trading system and European Union’s Carbon Border Tax. The discussion becomes more specific in the subsequent sections, drawing the present picture of green finance concerning the Indian scenario—its green bank, green bonds, green MF and green stock exchange. Reserve Bank of India’s recent guidelines regarding green finance and India’s presidency at the last held G20 summit are also discussed, finally concluding with mapping the road ahead for India.

Sustainability of opioid agonist therapy programmes in Belarus, the Republic of Moldova, Tajikistan and Ukraine in the context of transition from Global Fund support during 2020–2023

BackgroundMost national programmes of opioid agonist therapy (OAT) in Eastern Europe and Central Asia are at a critical juncture for building their sustainability due to decreasing support from the Global Fund and other international HIV funders. Therefore, it is timely to identify the status, trends, opportunities and risk factors of OAT preparedness in the face of donor transition.MethodsThe study assessed the OAT sustainability progress in 4 countries: Belarus, the Republic of Moldova, Tajikistan and Ukraine. The study used a comparative country case study design with qualitative methods and two data points in 2020 and 2022–2023. In total, 363 sources were reviewed and used, 83 interviews with key informants and 13 focus groups were conducted with clients, using a joint methodology and a defined Framework with three dimensions: ‘Policy & Governance’; ‘Finance & Resources’; and, ‘Services’.ResultsAll four countries have made improvements to increase OAT sustainability, though it varied. In 2022, Ukraine had a substantial degree of sustainability, followed by Belarus and Moldova with a moderate degree, while Tajikistan’s sustainability was at moderate-to-high risk. No country achieved a high degree of OAT sustainability in any of the three dimensions measured. However, a high degree of sustainability was reported for at least one indicator in Belarus, Moldova and Ukraine: ‘Medicines’; ‘Financial resources’; ‘Evidence and information systems’; ‘Service Accessibility’; or, ‘Service integration & quality’. On average, the greatest improvement between 2020 and 2022 was seen for ‘Availability & coverage’; ‘Financial resources’; ‘Service quality & integration’; and, ‘Service accessibility’. The highest risks across the countries, notably in Belarus and Tajikistan, were recorded for the indicator, ‘Availability and coverage’. Of concern is that the least progress, or even a decline, was found in ‘Human resources’.ConclusionsOAT sustainability in the 4 analysed countries remains at risk, despite progress in all countries. Managing HIV donor transition can have positive effects in addressing financial sustainability, especially inspired by Ukraine’s continued progress despite economic contraction and Russia’s invasion. More attention is needed to non-financial aspects of OAT sustainability in donor transition planning. The directions that could have multifaceted positive influence for OAT long-term resilience and scale up for impact on drug problems include decentralisation outside of health settings and broader drug treatment financial and management transformation, together with drug policy reforms. Thus far, viable solutions for sustainability of OAT in conflict areas appear unlikely. Building OAT resilience should remain high on the agenda of national stakeholders, technical partners and donors.

Strengthening regulation for medical products in Tanzania: An assessment of regulatory capacity development, 1978-2020.

Improving medicines regulation can lead to better population health, but how this process works in low- and middle-income countries remains underexplored. Tanzania's pharmaceutical sector is often cited as a successful example of a well-functioning regulatory system in a developing country, attributed to the work of the Tanzania Food and Drugs Authority (TFDA), now the Tanzania Medicines and Medical Devices Authority (TMDA). This raises the question: how was this regulatory capacity developed, and what lessons can other countries learn from Tanzania's experience? This paper analyzes changes in Tanzania's pharmaceutical regulation over three periods of significant sectoral reform. A desk review was conducted of Tanzania's policies, laws, regulations, guidelines, procedures, and institutional reports. The study reveals that Tanzania's regulatory capacity improved significantly through targeted reforms that addressed challenges in key regulatory areas. The three key periods examined are: 1) The separation of medicines regulation from food safety (1978-2003), 2) The expansion of regulatory domains and the establishment of a semi-autonomous regulatory agency (2003-2011), and 3) The expanded role of the Pharmacy Council to include premises regulation (2011-2020). The development of a well-functioning regulatory system in Tanzania resulted from advancements in four key areas: 1) The evolution of a legal regulatory framework, 2) Strong stakeholder engagement, 3) Continuous capacity building, and 4) Effective organizational leadership. Tanzania's regulatory system has evolved from being relatively ineffective to leading regional harmonization efforts in East Africa. This progress was not linear, requiring sustained effort, collaboration, and support from key development partners such as the Global Fund, WHO, and UNDP. Future efforts to enhance regulatory effectiveness should focus on creating adaptive systems that respond to changing needs, rather than solely prescriptive functions.

The Bond Market: A Pillar of Risk Management and Economic Stability

This essay investigates the utility of the bond market in risk management, corporate finance, and economic forecasting. It explores how the bond market’s inherent characteristics of safety, stability, and liquidity make it a crucial component of the global financial system. By examining the issuance of debt instruments, such as bonds, and their role in maintaining corporate control while accessing capital, the essay highlights the advantages of debt financing. Moreover, it underscores how these attributes help corporations manage financial risks and optimize their capital structure. Furthermore, the bond market’s predictive power is analyzed through key indicators like the yield curve and credit spreads, which provide early warnings of economic downturns. The yield curve, in particular, is known for its ability to forecast recessions when it inverts. Credit spreads, the difference between yields on corporate bonds and government securities, also serve as a barometer for economic health and investor sentiment. To bring these theoretical insights into a practical context, the essay includes case studies, such as Apple Inc.’s strategic use of debt. Apple's case demonstrates how a company can leverage debt to finance growth while preserving equity and maintaining financial flexibility. These examples illustrate the tangible benefits and strategic importance of the bond market in corporate finance. The essay concludes with suggestions for leveraging the bond market’s predictive capabilities, emphasizing the need for continuous monitoring and analysis of bond market signals to inform economic and financial decision-making. It also explores future research directions in the evolving financial landscape, considering how technological advancements and regulatory changes may impact the bond market's role in global finance.

Review of Causes, Prediction, and Prevention of Systemic Risk

In financial market, people always ignore or underestimate the potential risk of systemic risk until black swan events emerged as an irretrievable crisis. In order to analyze and prevent from crisis that generated by systemic risk, this paper collates and presents detailed review of the causes, prediction, and mitigation of systemic risk by gathering and sifting current theoretical and empirical research. It explores the complexity and interdependence of financial systems and emphasizes how systemic risk is created via endogenous risk generation via the investment decisions of financial institutions and regulatory and market failures. Moreover, it underlines the strong demand of through legislative changes, the importance of enhanced market discipline, and well-crafted government interventions. Deliberative risk governance is presented as a practical and necessary strategy when it comes to addressing stakeholders in the risk management process to achieve legitimacy and consensus. The research ends by advocating for a comprehensive strategy for risk management to strengthen the resilience of the global financial system and reduce the probability of future potential crisis.

The Victory of Decentralized Finance (DeFi) over Centralized Finance (CeFi): A Dussehra-Inspired Metaphor

The ancient Indian festival of Dussehra commemorates the triumph of good over evil, symbolized by Lord Rama's victory over the demon king Ravana. This paper draws an analogy between Centralized Finance (CeFi) and Decentralized Finance (DeFi), using Dussehra’s narrative as a metaphor to illustrate the ongoing battle between centralization and decentralization in the global financial system. CeFi is akin to Ravana—power-hungry, self-centered, and opaque—while DeFi represents Rama, who is fair, transparent, and offers equal opportunities to all. This paper examines the core differences between CeFi and DeFi, highlighting how the principles of DeFi are bringing about a paradigm shift in the financial world, much like the symbolic victory of Rama.

Achieving carbon neutrality and SDGs: assessing roles of solar energy, government stability, and population aging in greenhouse gas emissions

ABSTRACT In recent years, solar energy (SOE) has become a popular source of green energy that can stimulate energy transition, reduce Greenhouse Gas Emissions (GHGE), and mitigate global warming. In addition, population aging and government stability can also influence GHGE levels. However, there is a lack of research studies on the environmental impacts of SOE and population aging on GHGE in top emitters. Therefore, this research aims to unveil the heterogeneous effects of SOE, population aging, and government stability on GHGE in top emitters from 1992 to 2020. This study employed the Method of Moments Quantile Regression (MM-QR) because it can focus on the entire distribution of GHGE disclosing heterogeneous impacts of variables on GHGE. The outcomes of the study disclosed that population aging decreases the GHGE across all quantiles. However, government stability exacerbates GHGE with a slightly decreasing trend across all percentiles. SOE, however, reduces the GHGE only at the higher quantiles, while on lower quantiles, it is positively linked with the GHGE. It shows the usefulness of SOE in reducing GHGE in countries with higher emissions. Economic growth has a positive impact on GHGE, with this impact intensifying from lower to upper percentiles. This indicates that economic development exacerbates environmental deterioration, and therefore, higher GHGE and increased development are closely linked. The study did not notice any significant impact of financial globalization on GHGE. Based on the findings, a policy framework is proposed to reduce GHGE for achieving carbon neutrality and SDGs.

The Impact of Artificial Intelligence in The Financial Sector: Opportunities and Challenges

This article explores the transformative impact of Artificial Intelligence (AI) in the financial sector, highlighting its various applications and associated challenges. Through a detailed analysis, key technologies such as machine learning, computer vision, and natural language processing are examined, which have revolutionized critical areas such as customer service, risk management, and financial advising. Although AI has significantly improved operational efficiency and service personalization, it also presents important risks and limitations, such as data privacy, lack of model interpretability, and cybersecurity. Additionally, the article addresses future forecasts for AI adoption in finance, suggesting that its integration will continue to expand, driven by technological advances and regulatory improvements. However, this expansion must be balanced with adequate oversight to mitigate potential risks and maximize benefits. Overall, this study offers a balanced view of the opportunities and challenges that AI presents for the future of global finance.

Examining priorities and investments made through the Global Financing Facility for maternal and newborn health: a sub-analysis on quality

ABSTRACT Improving quality of care could avert most of the 4.5 million maternal and neonatal deaths and stillbirths that occur each year. The Global Financing Facility (GFF) aims to catalyse the national scale-up of maternal and newborn health (MNH) interventions through focused investments. Achieving impact and value for money requires high, equitable coverage and high quality of interventions. This study examines whether the rhetoric of increasing coverage together with quality has informed investment strategies in MNH through a secondary analysis of 25 GFF documents from 11 African countries. The analysis shows that the country GFF-related documents incorporate some MNH-related quality of care components; however, there is a lack of clarity in what is meant by quality and the absence of core MNH quality of care components as identified by the World Health Organization’s MNH quality framework, especially experience of care and newborn care. Many of the Investment Cases have a more diagonal focus on MNH service delivery considering the clinical dimensions of quality, while the investments described in the Project Appraisal Documents are primarily on horizontal structural aspects of the health system strengthening environment. The GFF is at the forefront of investing in MNH globally and provides an important opportunity to explicitly link health systems investments and quality interventions within the MNH continuum of care for optimal impact.