Effects of the crisis

Top PDF Effects of the crisis:

Are local action groups, under LEADER approach, a good way to support resilience in rural areas?

Are local action groups, under LEADER approach, a good way to support resilience in rural areas?

The launching and implementation of the European Rural Development Programming for 2014-2020 should act as a turning point to rethink the ways of working amongst the LAGs under the LEADER methodology, in order for a “bottom-up” approach to be truly applied in terms of decision making (in the way to better contribution to cope with the effects of the crisis and strengthen resilience in rural areas). However, the available information about the design of programming period 2014-2020 show that, in most of the cases, LAGs have not participated in the consultancy process to design the rural development programmes, and are not considered for the public administration as an appropriate tool to help the rural environment. This is not the perception of local communities, who do believe that LAGs are a good instrument for the development of rural areas. Hopefully, this support to the LEADER metodology could help LAGs to fulfil their roles and, in crisis situations, contribute to improve resilience in the rural environment.
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26 Lee mas

Effects of the global financial and economic crisis on the Bolivian economy: a CGE approach

Effects of the global financial and economic crisis on the Bolivian economy: a CGE approach

Certainly, this does not mean that the crisis has not been felt or will not be felt in the near future. Dabat (2009) and Ticehurst (2009) analyze the GFC in a broad context and mention its possible consequences for the Bolivian economy, but none of them quantify the economic effects of different shocks. Capra and Canavire (2009) use the MAMS model – a recursive dynamic CGE model – to analyze the effects of a reduction in the export prices of mining, hydrocarbons and agricultural goods; they find that the GDP would decrease in 5% in comparison to the base scenario. Jemio and Nina (2009) used a Macroeconomic Consistency model to analyze the effects of the crisis. They analyzed the marginal impact (one time impact) over the real sector of external and internal shocks. For instance, they analyzed a 50% reduction in the world price of natural gas, a 50% fall in remittances, a 50% fall in the price of minerals, a 10% reduction in the mining activity, and a 5% decrease in public investment.
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46 Lee mas

Argentina: a decade of the convertibility regime

Argentina: a decade of the convertibility regime

shock and an $11 billion rescue package, the convertibility re- gime survived the Tequila effect. The combination of both a fa- vorable real external environment and the very success of the rescue operation gave strength to unfounded optimistic expec- tations and a new surge in private capital inflows. These condi- tions lasted until the Asian crisis. From then on, optimism receded, capital inflows declined, and the country risk premium rose persistently with relative high peaks marked by the Rus- sian-Brazilian crisis and the Brazilian devaluation. In 1998–99, while the general financial conditions of the emerging markets reflected the lasting effects of the crisis initiated in Asia, the main external real factors of the Argentine economy—including the bilateral real exchange rate vis-à-vis Brazil—all changed for the worse. Without the compensating effect of external good news, the low competitiveness of the Argentine economy regained relevance in the view of analysts. The last wave of moderate optimism was motivated by the support package negotiated with the IMF in October 2000. The effect lasted for only a month. On no occasion throughout that turbulent history was an even- tual withdrawal from the convertibility regime put under seri- ous public discussion. Although some criticism was expressed from time to time, no significant political or social representa- tive has taken an open position in favor of a change of regime. Similarly, few economists criticized or even focused their analy- sis of Argentina’s problems on the difficulties embodied in the regime. In the public arena, the convertibility regime was taken as a given and unalterable state of nature. It became a sacred dogma not to be discussed in rational terms. Critics carried the burden of being labeled as “devaluationist” and were doomed to intellectual and political isolation.
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20 Lee mas

La crisis mundial del siglo XXI y sus efectos para América Latina y México / The world crisis of the 21st century and its effects for Latin America and Mexico

La crisis mundial del siglo XXI y sus efectos para América Latina y México / The world crisis of the 21st century and its effects for Latin America and Mexico

El crecimiento prácticamente se ha evaporado y la crispación social está en las calles, toda vez que la proverbial desigualdad de la sociedad chilena se hace más visible. El malestar ha llevado al desacertado segundo gobierno de Michelle Bachelet a tasas de aprobación de menos de 20%. No sirve de mucho hacer TLC con quien fuere, si no se tiene mucho más que ofrecer además de cobre, pescado, fruta, vino, madera y papel. Aun así, Chile tiene amplias fortalezas institucionales, holguras macroeconómicas y, a pesar de sus tropiezos, es hoy el país líder la región en materia de ingreso per cápita y seguridad. En el corazón andino de América del Sur, las cosas son diferentes: ni en Perú ni en Bolivia hay crisis económica, sólo una desaceleración. Si bien ambos países tienen diferentes inclinaciones políticas, su región por primera vez es líder en crecimiento (Luiselli, 2016).
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28 Lee mas

TítuloThe effects of government debt market financialization on debt sustainability in an economic uncertainty context: the case of Spain

TítuloThe effects of government debt market financialization on debt sustainability in an economic uncertainty context: the case of Spain

operations create the appropriate market conditions for liquidity and profitability opportunities, in order to attract investors. In relation to these types of operations, the key feature that differentiates the Spanish market from the rest of the European markets is the predominance of double or buy-back transactions (called repos). In these operations contracting parties simultaneously agree two single transactions, a buy and a sell, one on the spot and the other in the future or both in the future. The buyer in the first transaction will be the seller in the second and vice versa. These are firm transactions, with the sale and repurchase price previously agreed at a given date. This buy-back arrangement entitles the holder of the asset to collect coupon payments on maturity. In 2014, according to the Bank of Spain, the volume of repos in the secondary government debt market represented 61 per cent of the total transactions. This percentage remained at high levels, an average of 85 per cent during the decade prior to the crisis, and has fallen sharply since 2011. When considering the structure of transactions, the importance of repos reflects the demand for liquidity of government bond investors.
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40 Lee mas

TítuloAre Banking Shocks Contagious? Evidence from the Eurozone

TítuloAre Banking Shocks Contagious? Evidence from the Eurozone

Our study is motivated by two strands of literature; namely the effects of banking crises on the real economy, and contagion in financial markets following a shock to the banking sector. The seminal work of Bernanke (1983) shows that banking crashes may accentuate downturns in the real economy and lead to or prolong economic recessions. 1 If banking crises exert an influence on the path of economic growth, it would seem a natural extension to investigate their effects on domestic NFCs which will also react to the expected growth with the reaction observed through its share price. Indeed Tong and Wei (2009) identify two channels – finance and demand – through which a crisis can spread to NFCs; the finance channel refers to external funding problems, while the demand channel arises due to lower consumption in a recession. The former is predominantly associated with credit flow disturbances during a banking crisis. These have been shown to have important real economic effects (e.g. Bernanke and Gertler, 1985) with credit restrictions adversely affecting non-financial firms that are unable to substitute bank loans for other forms of external financing (Peek et al., 2003 and Laeven and Valencia, 2013b, among others). Kiyotaki and Moore (1997) show how credit-constrained firms may be forced to sell assets (which also act as factors of production in their model) to unconstrained firms, resulting in falling asset prices. Asset price declines further impinge on their ability to access credit markets, creating a strong link between credit restrictions and asset prices. This transmission mechanism has the potential to generate negative consequences for the non-financial sector, especially firms that are dependent on external financing. However, Adrian et al. (2012) find that during the recent crisis, U.S. firms were able to source direct debt funding on the bond market to compensate for the curtailment
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38 Lee mas

Essays on the consequences of banking shocks

Essays on the consequences of banking shocks

Although the negative impact of the financial crisis in 2008 led to a downwards revision of the projections about the performance of the developed economies, the growth figures for the emerging economies remained solid. Instead, the main concern for these economies were the inflationary pressures originated mainly by the higher prices of the commodities, context to which Uruguay was no stranger: the accumulated inflation rate for the year 2007 reached 8.50%. Under these con- ditions, the Uruguayan monetary authority introduced changes in the regulation of reserve requirements in order to reduce the amount of money in circulation. We focus on the effects of the increase in the reserve requirements introduced in Uruguay on June 2008 but announced one month earlier, the 6th May 2008. It can be summarized in three main changes: an increase in the reserve requirements for short-term liabilities from residents, an increase in the reserve requirements for liabilities from non-residents, and the introduction of a reserve requirement for funds from foreign banks. In particular, reserve requirements for (short-term) lia- bilities from residents increased from 17% to 25% if they are denominated in local currency (pesos), while they increased form 25% to 35% for liabilities denomi- nated in foreign currency (mainly dollars and Argentinean pesos). Liabilities from non-residents had an increase of reserve requirements from 30% to 35%. More importantly, before the reform liabilities from other banks were not subject to a reserve requirement. After the reform, liabilities from foreign banks were subject to a reserve requirement of 35%. 1 Hence, the different degrees of exposition of banks to these three sources of funding determines the intensity of the impact of the policy changes.
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116 Lee mas

Redes sociales y crisis alimentarias : el caso de la carne roja y sus efectos cancerígenos según la OMS

Redes sociales y crisis alimentarias : el caso de la carne roja y sus efectos cancerígenos según la OMS

Redes sociales y crisis alimentarias: el caso de la carne roja y sus efectos cancerígenos según la OMS Social networks and food crises: the case of red meat and its carcinogenic effects [r]

22 Lee mas

Alien Invasions and Identity Crisis: Steven Spielberg’s The War of the Worlds (2005)

Alien Invasions and Identity Crisis: Steven Spielberg’s The War of the Worlds (2005)

In “Child/ Alien/ Father: Patriarchal Crisis and Generic Exchange”, Vivian Sobchack deals with the cultural meanings of the child and how this figure has contributed to a generic convergence between contemporary SF, horror and family melodrama. Indeed, many films have been ‘marked’ as contemporary not only because of their release dates but also by “their mutual figuration of the alien or Other as somehow implicated in family life” (4). Sobchack argues that American bourgeois family has experimented a crisis since the 60s and this is shown in films like The Terminator, E.T. or Close Encounters. The family and its members are seen as subjected to dissolution, transformation and redefinition: “A man’s home in bourgeois patriarchal culture is no longer his castle (…) It is no longer possible to avoid the presence of Others –whether poltergeists, extra-terrestrials, or one’s own alien kids” (Sobchack, 1991: 4). The figure of the child condenses a cultural drama that seeks resolution in the three genres. Whereas SF manages to offer a promise to resolve the conflict, there are no such resolutions available to either the horror film or the family melodrama –both playing out patriarchal impotence. Accordingly, otherness can be found both outside and inside the family. In this sense, The War of the Worlds shows a menaced man who is unable to cope with this situation. An absent father, a feature that became common in the Lucas-Spielberg’s blockbuster movies of the 80s, sees traditional family relationships as disturbed.
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17 Lee mas

The effects of individual characteristics on the distribution of college performance

The effects of individual characteristics on the distribution of college performance

Age effects are interesting. OLS estimations are insignificant for both accountants and lawyers, suggesting that age has no effect on the conditional mean of performances. Nevertheless, the age effect by quantiles ranges monotonically from being significantly negative in the lower levels to slightly significant and positive in the upper quantiles; a very similar and stronger effect is found for the case of lawyers. This seems to be indicative of a pure scale effect where, other things equal, classes with older students are more disperse in the sense that age plays a positive role for those in the upper tail of the distribution of non-observables and a negative one for those conditionally in the bottom. This is consistent with the intuition that good but otherwise older students may be more focused and mature about what they expect from their education (the positive effect of age) and hence perform better than those in the bottom (badly motivated or low skilled) for whom age plays a negative role in their performance. This result can be seen in Figures 3 and 4, where we plotted the conditional distribution of performances for individuals who, at the moment of the census were 21 and 30 years old. Consequently, in spite of having similar locations, the conditional distribution of performances of older students is more disperse than that of younger ones. As mentioned in the Introduction, the insignificance of the age variable in the OLS mean model might lead careless observers to the wrong conclusion that age has no effect in performance, ignoring that it has a non-trivial effect on the dispersion, a fact that has important consequences since more heterogeneous groups may require a different pedagogical treatment than younger and more homogeneous ones.
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32 Lee mas

The Enigma of Capital and the Crisis of Capitalism

The Enigma of Capital and the Crisis of Capitalism

En The Enigma of Capital, libro que acaba de ganar el Premio Isaac Deutscher en su edi- ción de 2010, David Harvey contesta estas tres preguntas pensando el capitalismo como un sistema complejo de interrelaciones cuya lógica moviliza la totalidad de los procesos de reproducción social para hacer realidad su objetivo último de crecimiento exponencial de la acumulación de capital de acuerdo con una pauta rígida pero variable de desarrollo geográfico desigual y de reparto del excedente en virtud de relaciones de fuerza que se re- producen a un tiempo en el proceso de producción y en el mercado de trabajo, en la esfera política mediante modelos diversos de formas estatales específicas y en el mercado mun- dial y en el sistema de Estados a través de ordenes geopolíticos y geoeconómicos dotados de estabilidad durante los diferentes ciclos sistémicos de acumulación. La opción meto- dológica y teórica de Harvey es nítida: es preciso apostar por una utilización creativa del software intelectual marxiano y marxista para pensar la complejidad de un sistema que no es unilateralmente económico, financiero o político, sino que estructuralmente integra la totalidad de las dimensiones de la reproducción de la sociedad de acuerdo con un criterio dinámico de desarrollo desigual.
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7 Lee mas

The historical evolution of accounting in China: the effects of culture

The historical evolution of accounting in China: the effects of culture

Gray defined culture as the value system shared by major groups of populations. According to Gray, in a theoretical way, linking accounting and culture within which the impact of culture on accounting values and accounting change could be assessed (Verma, 2005:11). Gray’s theory is constructed from the societal values which are the origins of the accounting subculture. The value systems of accountants are derived from cultural or societal values with specific reference to work-related values. Accounting values, in turn, affect accounting systems, therefore cultural factors directly influence the development of accounting and financial reporting systems at a national level (Doupnik and Tsakumis, 2004 pp:1-30). Gray went on to suggest that there should be a close match between cultural areas and patterns of accounting systems. This is the basis upon which Gray rests his theory of cultural relevance to accounting (Chanchani and Wilett, 2004 pp: 125-154). Gray extended Hofstede’s model by hypothesizing the existence of an accounting subsystem which drew its value system from the primary societal value system (Salter and Nieswander, 1995:382). In the hypotheses which were interested in culture, it was argued that a combination of accounting sub-cultural dimension have had considerable influence on accounting. Gray developed four accounting values which were based on Hofstede’s model (Ding et al., 2004:10). Gray’s accounting values were represented as follows:
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28 Lee mas

The Crisis of the European Union. A Response

The Crisis of the European Union. A Response

En un momento en que los cimientos económicos y políticos de ese proyecto llamado Euro- pa se están tambaleando, y en que afl oran voces pesimistas tanto de intelectuales como de la ciudadanía, Habermas plantea que la única salida constructiva de la crisis es más Europa. Este libro se centra principalmente en la defensa de la Unión Europea (UE) como proyecto constitucional, aportando nuevos elementos al estado de la cuestión sobre el tema, a través de una narrativa novedosa y convincente. En la línea de sus últimas obras, el autor de la Teoría de la Acción Comunicativa defi ende la constitución de Europa desde la perspectiva del derecho internacional, pero esta vez plantea sus análisis y refl exiones en el marco de la crisis económica y fi nanciera de los últimos años.
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5 Lee mas

CVAR constrained planning of renewable generation with consideration of system inertial response, reserve services and demand participation

CVAR constrained planning of renewable generation with consideration of system inertial response, reserve services and demand participation

Jansen et al. (2006) propose a number of methodological enhancements to Awerbuch and Berger’s work. In this study, a cost-based approach is proposed, leaving behind Awerbuch’s concept of returns and allowing a rather transparent link between cost and risk. In this case, expected cost is the sum of expected investment, fuel, fixed O&M, variable O&M and environmental impact costs and risk is the standard deviation of the same sum, considering correlations between the different cost components and technologies. Moreover, a methodology by which expert assumptions on the parameters assumed to be uncertain can be transformed into standard deviation is proposed. Thanks to this cost-based approach, this report lays de foundation for the combination of classic planning and operation simulation of power systems and PT.
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88 Lee mas

Forest management and carbon sequestration in the Mediterranean region: a review

Forest management and carbon sequestration in the Mediterranean region: a review

Furthermore, the tree species planted is important; the soil carbon stock increments approximating 25% when broadleaf species are employed whereas the percentage drops to 12% in the case of Pinus spp. or Eucalyptus spp. However, processes that stabilize carbon in soils are slow, perhaps taking more than a century. Therefore, any increment may not be detected in the short or medium-term (Poeplau et al., 2011). Their results revealed that in the temperate area, afforestation of croplands led to an increase of 22% in the soil carbon stock in the first 20 years and 117% after 100 years, considering forest floor and mineral soil to a depth of 30 cm. These authors reported that almost 30% of this stock is present in the forest floor in a labile form that could be affected by disturbances. Conversion of grassland to forest resulted in a reduction of 4% in the soil carbon stock 20 years after the afforestation. Additionally, they reported that the soil carbon stock could be temporarily reduced in the short- or medium- term due to the soil preparation techniques (as it has been mentioned in a previous section), with an increase of 30% after 100 years (including forest floor), mainly due to the forest floor carbon accumulation. Nave et al. (2013) reported that afforestation increases soil carbon stocks by 21% and that this increase can be observed between 15 and 30 years after the afforestation. This time span may not be sufficient in arid or semi-arid areas in the Mediterranean region due to the poor soil conditions and slow soil dynamics under this climate. Hence, soil organic carbon stocks in a semi-arid area under a different land use may not differ significantly (Albaladejo et al., 2013).
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25 Lee mas

 Filtering the desiri: The effects of time and space

 Filtering the desiri: The effects of time and space

Not always does an attraction exist in each person’s apparent forms. Attraction is defined or configured by the object of seduction. By way of example, we might say that one person is extremely beautiful, if she is unmistakably so. Yet, beyond a coincidence in this type of overtly evident judgments, there are people who are more appealing – if not attractive - to each one of us, much more than others. That is why seduction’s basic foundations not only lie in the movements made, but in the form; a form we keep inside of us, along with an irremediable impulse we cannot deviate. Therefore we feel obligatorily subjected to this morphology, in short, to this image.
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8 Lee mas

Establishment of framework for classification/categorisation and labelling of medicinal drugs and driving

Establishment of framework for classification/categorisation and labelling of medicinal drugs and driving

Specific sections of the SmPC and PIL were used to retrieve details on the active substance presentations and strength, indications, posology, route of administration (step 0), pharmacodynamic and pharmacokinetic profile (step 1), effects on the ability to drive and use machines (step 4), and undesirable effects related to driving and operating machines (step 2). During the activities in Task 4.3 on categorisation of the existing medicines, the occurrence of undesirable effects was considered as key information for categorising some medicines, in circumstances that information on experimental studies for assessing a medicine’s effect on driving or skills related to driving or epidemiological data was lacking or limited. For that reason, section 4.8 of the SmPC was used (as well as specific literature search, if necessary). Recently, EMA has started to use the following categorisation on frequency of undesirable effects, side effects or adverse reactions:
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135 Lee mas

CONTRIBUTORS xvii PRE~CE xix PART ONE FOUNDATIONS OF THERAPEUTIC MODALITIES

CONTRIBUTORS xvii PRE~CE xix PART ONE FOUNDATIONS OF THERAPEUTIC MODALITIES

EFFECTS OH ARTICUI.AR f'ACET JOINTS 456 EFFECTS ON THE MUSCUI.AR SYSTEH 456 EFFECTS ON THE NERVES 456. EFFECTS ON THE ENTIRE BODY PART 457[r]

12 Lee mas

Exploring the washback effects of a high-stakes English test on the teaching of English in Spanish upper secondary schools

Exploring the washback effects of a high-stakes English test on the teaching of English in Spanish upper secondary schools

It is also worth noting the fact that although the majority of teachers (78.4%) in Table 3 reported paying some attention to the skills not evaluated in the ET, Table 4 below shows that only 2% of the teachers indicated spending more than 50% of class time to the practice of these skills. In fact, 51% of the teachers reported spending less than the third part of their course time working with them and 27.5% of the teachers admitted to spend less than half of their course time to practising them. Moreover, if we compare the data obtained in 2007 and 2008 (ET 2007 vs. ET 2008), it can be observed that the tendency seems to be toward a decrease in the amount of time devoted to the teaching of skills not featured in the ET. These results find support for the fact that the ET considerably reduces the time available for instruction. Thus, there is no denying that virtually all the teachers are conditioned by the ET and, accordingly, they teach to the test. This finding is in line with others that found that when high-stakes are involved, “‘teaching to the test’ becomes almost unavoidable” (Bachman and Palmer, 1996: 33). Davies (1990) also considers any attempt to prevent teaching to the test futile.
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22 Lee mas

Does post disturbance salvage logging affect the provision of ecosystem services? A systematic review protocol

Does post disturbance salvage logging affect the provision of ecosystem services? A systematic review protocol

Methods: With this systematic review we aim to synthesise the literature on the effects of salvage logging on eco- system services and determine the effects of major effect modifiers such as disturbance type and intensity, the timing and method of logging, and the type of forest. We will conduct searches of the primary scientific literature, which will be selected and categorised according to its relevance to the topic and its quality. Each relevant article will be read in full to obtain the necessary data for meta-analysis and to identify its main conclusions. Mixed-effects models will be performed to assess the effects of the identified effect modifiers on the effect sizes of the salvage intervention on ecosystem services and to account for random effects arising from studies being performed in the same area. Sensi- tivity analyses will test the potential effects of study quality, and publication bias will be assessed with the trim and fill method. We will present the results as a narrative review and a meta-analysis.
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7 Lee mas

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