Impact Of Macroeconomic Policies Research Articles

The impact of macroeconomic policy on the financialisaton of the real economy: From the perspective of joint fiscal and monetary policy

The impact of macroeconomic policy on the financialisaton of the real economy: From the perspective of joint fiscal and monetary policy

The Impact of Macroeconomic Policies on Foreign Direct Investment in Sudan (1990-2020)

هدفت الدراسة إلى التحقيق في تأثير السياسات الاقتصادية الكبرى على جذب الاستثمارات الأجنبية المباشرة في السودان من عام 1990 إلى 2020 وتأثيرها على تدفق الاستثمار الأجنبي المباشر بشكل كمي، باستخدام نموذج قياسي لتقدير وظيفة تدفق الاستثمار الأجنبي المباشر خلال الفترة المحددة. اعتمد الباحث منهجاً وصفياً تحليلياً. أحد النتائج المهمة للدراسة كان وجود علاقة بارزة بين معدل نمو الناتج المحلي الإجمالي، حجم السكان، وفتح الاقتصاد معاً للاستثمار الأجنبي المباشر خلال فترة الدراسة. بالإضافة إلى ذلك، كشفت الدراسة عن التأثير الإيجابي لتمويل الداخل وسعر الصرف على الاستثمار الأجنبي المباشر. ظهر سعر الصرف كمتغير أساسي يؤثر على تدفقات الاستثمار الأجنبي المباشر، مما يؤكد أهميته ودوره الإيجابي في تعزيز الاستثمار الأجنبي المباشر في السودان. من بين التوصيات الرئيسية، هناك ضرورة لتعزيز معدلات النمو الاقتصادي وتشجيع المستثمرين الأجانب من خلال إنشاء بيئة استثمارية مواتية. علاوة على ذلك، يجب على البلاد التوازن بين السياسات النقدية التي تهدف إلى الحد من التضخم والجهود المبذولة لجذب الاستثمارات الأجنبية مع معالجة العقبات التشريعية والتنفيذية والإدارية للمستثمرين الأجانب.

Analysis Of House Price Bubbles and Macroeconomic Policy Regulation

House prices are a reflection of a country's economic growth and a city's overall competitiveness, and are determined by supply and demand after integrating various factors. Real estate is an important pillar industry all over the world, and almost everyone sees property as an important reflection of economic property. Real estate includes residential and commercial property. In 2023 real estate will remain an important and large industry. House prices are something that is closely watched in people's lives. When there is a change in house prices it can have an impact on the whole society and economy. This study focuses on the impact of macroeconomic policies on the house price bubble economy and the causes of the house price bubble economy. The study will adopt an objective perspective and a formulaic approach to analyze the house price bubble economy. This study will use the example of Japan during the bubble economy to explain this. It is found that different macroeconomic policies will lead to different economic effects that will trigger the strength of the house price bubble, such as macroeconomic policies that lead to inflation and then lead to the strengthening of the house price bubble.

Impact of Macroeconomic Policies on Consumer Pricing Volatility: Application of Generalized Autoregressive Conditional HeteroskedastiCity (GARCH) Approach

Impact of Macroeconomic Policies on Consumer Pricing Volatility: Application of Generalized Autoregressive Conditional HeteroskedastiCity (GARCH) Approach

Relative risk of the COVID-19 pandemic and regional inflation convergence in Indonesia

This study investigates the relationship between the risk of a COVID-19 pandemic and the regional inflation convergence in Indonesia. It is important to examine the regional inflation convergences to evaluate the inflation rate and the impact of macroeconomic policy on inflation convergence, as the COVID-19 recession differs from the previous inflation recession. To calculate the impact of the relative risk of the COVID-19 pandemic on regional inflation convergence in Indonesia, the dynamic econometric spatial panel data model is used to calculate relative risk without spatial or SIRs. On the contrary, for calculating the risk relative to spatial elements, the CAR Leroux or BSCL Bayesian Spatial Model is used. Using BSCL, the calculation of the relative risk value for the COVID-19 pandemic concludes that Sumatera Island, Java Island, Kalimantan Island, Sulawesi Island, Maluku Island, and Papua Island have high risks, while Bali Island and Nusa Tenggara Island have low risks. In both static and dynamic models, the influence of currency circulation on inflation convergence is positive, and the relative risk of a COVID-19 pandemic on inflation convergence is negative. Studies show that the COVID-19 pandemic is a deterrent to inflation convergence, while the circulation of money drives inflation convergence.

Examining the Asymmetric Impact of Macroeconomic Policy in the Uae: Evidence from Quartile Impulse Responses and Machine Learning

Examining the Asymmetric Impact of Macroeconomic Policy in the Uae: Evidence from Quartile Impulse Responses and Machine Learning

Economic Policy Uncertainty and “Double High Phenomenon”

The “double high phenomenon” is a phenomenon that listed companies hold high cash and high short-term loans at the same time. This paper takes China’s A-share listed companies from 2007 to 2018 as samples, and tests the impact of economic policy uncertainty on the “double high phenomenon” from the external macro environment of enterprises. It is found that there is a positive correlation between economic policy uncertainty and the “double high phenomenon”, that is, the higher the uncertainty of economic policy, the higher the probability of “double high phenomenon”. In order to ensure the reliability of the research results, this paper carries out a series of robustness tests, including replacing the measurement method of “double high phenomenon” variables and economic policy uncertainty variables, replacing the regression econometric model, distinguishing the duration of “double high phenomenon”, adding macro economic variables, and using the instrumental variable method, and the conclusion has not changed. In order to better understand the positive relationship between economic policy uncertainty and the “double high phenomenon”, this paper explores the transmission path of economic policy uncertainty on the “double high phenomenon”. It is found that economic policy uncertainty increases the probability of “double high phenomenon” by increasing the fluctuation of operating cash flow, financing costs and financial risks. In addition, further research on firm heterogeneity also finds that the positive relationship between economic policy uncertainty and the “double high phenomenon” is affected by the competitive position of product market, financing constraints and corporate governance level. That is to say, the positive effect of economic policy uncertainty on the “double high phenomenon” will be alleviated with the increase of product market competition, the alleviation of financing constraints and the improvement of corporate governance.The possible contributions of this paper are as follows: First, compared with the existing research about the impact of economic policy uncertainty on cash holding or financing, this paper focuses on the simultaneous “double high” impact of economic policy on corporate cash holding and short-term financing, expands the research on the economic consequences of economic policy uncertainty from the perspective of “double high phenomenon”, and supplements the corresponding research literature. Second, the existing research about the causes of “double high phenomenon” mainly focuses on the characteristics of the enterprise itself and governance. This paper focuses on the external macro environment of enterprises and studies the causes of “double high phenomenon” based on the uncertainty of economic policy, which enriches the research on the causes of “double high phenomenon”. Third, the conclusions of this paper will help policy-makers and accounting information users to understand the “double high phenomenon” and the impact of economic policy uncertainty on the behavior choice of micro economic entities more effectively, and enrich the research on the impact of macroeconomic policy on micro enterprise behavior decision-making.

Mobile Money Use: The Impact of Macroeconomic Policy and Regulation

This paper examines the effects of macroeconomic policy and regulatory environment on mobile money usage. Specifically, we develop an autoregressive distributed lag model to investigate the effect of key macroeconomic variables and mobile money tax on mobile money usage in Uganda. Using monthly data spanning the period March 2009 to September 2020, we find that in the short run, mobile money usage is positively affected by inflation while financial innovation, exchange rate, interest rates and mobile money tax negatively affect mobile money usage in Uganda. In the long run, mobile money usage is positively affected by economic activity, inflation and the COVID-19 pandemic crisis while mobile money customer balances, interest rate, exchange rate, financial innovation and mobile money tax negatively affect mobile money usage.

The impact of macroeconomic policies on Tunisian current account, an ARDL approach

The impact of macroeconomic policies on Tunisian current account, an ARDL approach

The impact of macroeconomic policies on Tunisian current account, an ARDL approach

During 1980-2010 Tunisian current account deficit was persistent and worsens between 2011-2018 following the Jasmine revolution of 2011 and contribute to slow down country growth and development. The objective of this study is: 1) to examine the linkage between persistent Tunisian current account deficit and a broad set of macroeconomic variables related to fiscal, monetary and trade policies between 1980-2018; 2) enlighten policy makers in their decision-making process related to the adjustment mechanisms. Based on ARDL approach, the key findings of this study show robust empirical evidence of short and long-run effects of fiscal and monetary policies, while the effect of trade policy is only apparent in the short-term. Therefore, we conclude that, in the short-term, both a tight monetary policy and a balanced fiscal budget are necessary to adjust the current account balance. However, these reforms are not sufficient; making the Tunisian current account deficit sustainable requires structural changes to the economy over the long-term.

The Impact of Macroeconomic Policies on Healthcare Delivery in Kenya: An Analysis of the National Sexual Violence Prevention and Care Response.

Sexual violence is one of the most common forms of violence against women in Kenya. This study documents the care of sexual violence survivors from the perspective of health care practitioners based on an analytic framework developed in studies of the political-economy of health to examine the effects of International Financial Institutions' conditionalities on the allocation of national fiscal resources. The study documented the working conditions of practitioners and myriad challenges that they experience in providing quality services to sexual violence survivors. The issues reflected in the results are grounded in social structural inequities driven by the global political economic policies that perpetuate poverty and dependency throughout Africa and the developing world. Macro-level variables associated with health care provision are assessed with a focus on global macroeconomic policies established by the International Monetary Fund and World Bank, their impact on Kenya's health economy and their ultimate impact on the capacity of the health system to meet the complex needs of survivors of sexual violence. In this paper, study results are analysed within the context of these macroeconomic policies and their legacy.

Macroeconomic policies and sustainable employment yields in sub‐Saharan Africa

AbstractThe impact of macroeconomic policies on employment yields from output growth in sub‐Saharan African countries is examined in this study. Data for 37 countries are used for the period 1991–2016 and sustainable employment yields are obtained by comparing employment elasticities for own‐account (vulnerable) and employers (formal) groups. The two‐stage least squares method is used to estimate employment elasticities for the panel datasets for three sub‐periods (1991–1999, 2000–2009, 2010–2016), and the feasible generalised least squares method is used to estimate the effects of policies on employment elasticities based on a pooled dataset for the three sub‐periods. Policy efforts are shown to be more effective if moved towards more flexible and targeted tax regimes, more rigid labour markets, and liberalised trade. On the other hand, investment and industrial policies do not appear to exert unidirectional effects on employment, especially given wide variations in government sizes and relative shares of domestic/foreign investment among the countries. There is also evidence that policy influences are more practicable with more formal employment groups. Patterns of macroeconomic policy directions are therefore critical to their effectiveness as labour market adjustment tools in the region.

Impact of Macroeconomic Policies on Stock Market in Mongolia

Impact of Macroeconomic Policies on Stock Market in Mongolia

Inequality in Macroeconomic Models

This articles focuses on the recent research efforts to incorporate income, wage and wealth inequality in macroeconomic models. I start by reviewing recent models on the impact of inequality on, on the one hand, long-run growth and, on the other, and macroeconomic fluctuations. The articles then reviews the literature concerned with the macroeconomic determinants of wage and wealth inequality. It concludes by discussing a number of possible avenues of research that seem to me particularly important, such as the impact of macroeconomic policy on distribution or the effect that firm size can have on both growth and wage inequality.

The impact of macroeconomic policies on the growth of public health expenditure: An empirical assessment from the Indian states

The impact assessment of macroeconomic policies on public health expenditure is very relevant in Indian economy because of tax reform, fiscal consolidation, and expenditure policy reform. These hav...

Impact of Macroeconomic Policies on the Balance of Payments of India during Inwardness and Openness

Eminent economists, policy makers and research scholars proved that there is an impact of each and every policy actions of macroeconomic policies (both monetary and fiscal policy actions) on the external sector variables like export and import of goods, services and capital flows via changes in prices, interest rates, gross domestic product and exchange rates. Degree of this impact may differ during inwardness and openness, according to IMF and IBRD. The present study attempts to analyse the impact of monetary and fiscal policy actions (money supply, Interest Rates, Gross Fiscal Deficit) on the external sector through BOP of India during inwardness and openness using appropriate statistical methods like OLS and other descriptive statistics. This study finds that the impact of expansionary policy actions on the external sector during inwardness was limited and stable because the policy actions are mainly based on economic planning. But the same policy actions and its influence on the external sector during openness was highly volatile due to the pressure of global economic factors in the policy making process. For economic stabilisation and external sector sustainability, this study strongly recommends Milton Friedman's monetary rule and IMFs macroeconomic stabilisation measures.

ASSESSING THE IMPACT OF DISTRIBUTIVE POLICIES ON THE BRAZILIAN ECONOMY USING AN SCGE MODEL

This study investigates the impact of macroeconomic policies on the Brazilian economy. We present a two-sector, open-economy, Structuralist Computable General Equilibrium model that distinguishes among three economic classes and assumes no financial sector. The Social Accounting Matrix for Brazil in 2006 serves as a benchmark for our model. We compare the medium-run effects of five experiments: an income transfer towards formal workers, a transfer to informal labour, an investment shock, an exchange rate depreciation, and a policy mix that combines (exchange rate) depreciation with income transfer towards modern (sector) workers. The policy measures reinforce each other in terms of their potential to enhance growth. Our findings underscore the importance of redistributive policies to foster economic expansion.

Impact of Macroeconomic Policy on Agricultural Growth in Nigeria

Impact of Macroeconomic Policy on Agricultural Growth in Nigeria

Impact of Macroeconomic Policies on the Ghana Stock Exchange: A Cointegration Analysis

The study examined the impact of fiscal and monetary policy actions on the stock market in Ghana. In pursuing this, the researchers probed the inter-temporal interaction between macroeconomic policies and stock market activities in Ghana and investigated the efficiency of the stock market with respect to fiscal and monetary policy information. It was found that, both from common correlation analysis to recent econometric modeling; indicate fiscal policy actions have significant effects on stock market activities and not the other way round. In addition, there is a unidirectional causal effect of fiscal policy actions on stock market activity. It was thus concluded that the fiscal policy actions do matter in the activities of the stock market. The study recommends that government must synchronize its fiscal policy actions with activities in the stock market among others.

English

  The literature on development problems of small scale industries in Ghana tend to paint a broad brush picture that may lend less relevance to development planning specific to local situations. Drawing on the case of small scale agro-processing industries, this paper examines geo-specific constraints that affect the development of small scale industries in the kassena-Nankana District of North Eastern Ghana. The findings show that industrialists have limited economic access to raw materials and energy supplies owing to environmental factors and the impact of macro-economic policies. There is also spatial inequity in the utilization of engine powered agro-processing technologies as a result of which many rural industrialists depend on man powered agro-processing technologies which have multiple adverse implications for production and growth. The main issues that underpin access to technology are the level of service development at the community level and accessibility to urban towns. There is also limited utilization of credit for capitalization owing to the lack of accessible credit facilities and ignorance while marketing of industrial products is constrained by climatic variability and poor debt recovery. Within the social setting, multiple household roles reduce time allocation of female industrialists to industrial production, while the lack of formal education and over burdened social expenditures present difficult managerial challenges to rural industrialists in general. The authors recommend the promotion of industrial development through a holistic approach to district development planning and management. Given the nature of the local economy, the authors stress the need to facilitate the development of the agricultural sector as pre-conditional and complimentary to the industrial development process.   Key words: Small-scale industries, agro-processing industries, industrial development, macro-economic policies, kassena-Nankana District.