Economic Growth Volatility and Resource Curse: The Role of Financial Development

Moradbeigi, Maryam; Law, Siong Hook

doi:10.7603/s40932-014-0003-y

Cited by 2 publications

(3 citation statements)

References 34 publications

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“…30 Government expenditure to GDP indicates total government consumption, investment and transfer payments as a share of the country's GDP. This indicator is seen as a factor of a country's fiscal behaviour 40 and the determinant of output volatility, 41 whereas increasing government expenditure allows for reducing the negative effects of output volatility. Besides, higher government expenditure is increasing disaster mitigation capability of the country.…”

Section: Resultsmentioning

confidence: 99%

“…27,28 Healthcare system capacity studies emphasize the "Hospital beds available per capita", 29,30,35,57 "Out-of-pocket expenditure (OOPs)" 31, 32,58 and "Health care expenditure % to GDP". 30,[34][35][36]57,59,60 There is a variety of widely used economic factor variables that influence country's vulnerability as 'Gross Domestic Product' 18 and "GDP per capita"; 19,61 "Public and private debt to GDP" 38,39 and "Government expenditure to GDP", 40,41 "Inflation Rate" 7 and "Unemployment rate" 45,46 as well as "Current Account Balance to GDP". 47 Taking into account the specifics of the recent COVID-19 outbreak such indicators as 'Socio-cultural disparity' 42 and use of "Telecommunication" tools 37 became important.…”

Section: Methodsmentioning

confidence: 99%

See 1 more Smart Citation

<p>A Country Pandemic Risk Exposure Measurement Model</p>

Grima¹,

Kızılkaya²,

Rupeika-Apoga³

et al. 2020

RMHP

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The purpose of this study is to develop a Pandemic Risk Exposure Measurement (PREM) model to determine the factors that affect a country's prospective vulnerability to a pandemic risk exposure also considering the current COVID-19 pandemic. Methods: To develop the model, drew up an inventory of possible factor variables that might expose a country's vulnerability to a pandemic such as COVID-19. This model was based on the analysis of existing literature and consultations with some experts and associations. To support the inventory of selected possible factor variables, we have conducted a survey with participants sampled from people working in a risk management environment carrying out a risk management function. The data were subjected to statistical analysis, specifically exploratory factor analysis and Cronbach Alpha to determine and group these factor variables and determine their reliability, respectively. This enabled the development of the PREM model. To eliminate possible bias, hierarchical regression analysis was carried out to examine the effect of the "Level of Experienced Hazard of the Participant (LEH)" considering also the "Level of Expertise and Knowledge about Risk and Risk Management (LEK)". Results: Exploratory factor analysis loaded best on four factors from 19 variables: Demographic Features, Country's Activity Features, Economic Exposure and Societal Vulnerability (i.e. the PREM Model). This model explains 65.5% of the variance in the level of experienced hazard (LEH). Additionally, we determined that LEK explains only about 2% of the variance in LEH. Conclusion: The developed PREM model shows that monitoring of Demographic Features, Country's Activity Features, Economic Exposure and Societal Vulnerability can help a country to identify the possible impact of pandemic risk exposure and develop policies, strategies, regulations, etc., to help a country strengthen its capacity to meet the economic, social and in turn healthcare demands due to pandemic hazards such as COVID-19.

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Section: Resultsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

<p>A Country Pandemic Risk Exposure Measurement Model</p>

Grima¹,

Kızılkaya²,

Rupeika-Apoga³

et al. 2020

RMHP

View full text Add to dashboard Cite

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“…Particularmente, aquellos riesgos que son el resultado de la volatilidad de los precios del commodity y de la inestabilidad de la moneda nacional, pueden ser mitigados por inversión a largo plazo en activos que no están asociadas a la minería. De acuerdo a esta tesis, se podría suponer que la inversión de recursos generados por el auge, podría mitigar los efectos de las futuras crisis si es que existe un sistema financiero que logre reducir los riesgos a través de la inversión diversificada (Moradbeigi & Law, 2014). Para Chile, esto significa que en la última fase de auge del cobre (2004)(2005)(2006)(2007)(2008) se produjo una sobreoferta de liquidez financiera, la cual se debió invertir preferentemente en un sector ajeno al minero.…”

Section: La Inversión Inmobiliaria Como Vínculo Entre La Renta Exportunclassified

Inversión inmobiliaria en tiempos de auge y crisis: ¿Es la ciudad un producto minero o un derivado financiero?

Rehner

Leiva

2017

Rev. geogr. Norte Gd.

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RESUMENCuando se generan altos ingresos por exportación, una parte se invierte en inmuebles para asegurar valor a largo plazo, impulsando así el crecimiento urbano. Empleando el argumento de la financiarización de la economía, el segundo circuito del capital y la volatilidad de la renta exportadora, este artículo discute en qué medida los ingresos por exportación, la liquidez financiera, y el endeudamiento se relacionan a escala nacional y a modo de caso ilustrativo, se analiza su incidencia en la inversión inmobiliaria en La Serena. Los resultados muestran que a nivel nacional las tendencias del ahorro, el otorgamiento de créditos, y la liquidez financiera, guardan relación con fases de auge y crisis en la exportación. A nivel ciudad, la renta exportadora y la liquidez financiera tienen una importancia significativa en explicar la inversión inmobiliaria en La Serena, mientras que indicadores como la demanda efectiva y el endeudamiento poseen menor aporte en la explicación.Palabras claves: Financiarización, renta exportadora, liquidez financiera, inversión inmobiliaria. ABSTRACTWhen high export earnings are generated, a part is invested in real estate, to ensure longterm value, and as a result is thus promoting urban growth. By employing the concepts of financialization, second circuit of capital and volatility of export income, this article discusses on national scale to what extent export earnings, financial liquidity and private debt are related. On local scale their impact on real estate investment in La Serena is analyzed by using a quantitative analysis. The results show that the national trends in savings, lending, and financial liquidity, are related to thy cycle of boom and bust of export revenues. At city level, export income and financial liquidity are of significant importance in explaining real estate investment in La Serena, while indicators of eff ective demand and debt contribute less to the explanation.Keywords: Financialization, export rents, financial liquidity, real estate investment. REVISTA D E GEOGRAFÍA NORTE GRANDE La relación entre un espacio amplio, generador de valor económico a través de la actividad extractiva y la "metrópolis", en la cual se intercambia la mercadería, y que es el lugar donde la liquidez financiera se transforma en crecimiento urbano, ha sido brillantemente descrito en una historia económica de la ciudad de Chicago y su relación con el Oeste de los Estados Unidos a finales del siglo XIX (Cronon, 1992). Si la economía chilena sigue básicamente el modelo extractivo y exportador heredado desde el siglo XIX, se podría suponer entonces, que en la actualidad el crecimiento de las urbes chilenas se encuentra ligado a los ingresos generados por la actividad exportadora.En esta línea, se ha demostrado anteriormente que las ciudades del norte chileno viven una condición de auge, debido a los impactos indirectos de la exportación, donde su crecimiento se relaciona con el empleo generado y los sueldos obtenidos en el sector exportador y además, que este auge se expresa en las ac...

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Economic Growth Volatility and Resource Curse: The Role of Financial Development

Cited by 2 publications

References 34 publications

<p>A Country Pandemic Risk Exposure Measurement Model</p>

<p>A Country Pandemic Risk Exposure Measurement Model</p>

Inversión inmobiliaria en tiempos de auge y crisis: ¿Es la ciudad un producto minero o un derivado financiero?

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