88 research outputs found
Financial crises and the attainment of the SDGs: an adjusted multidimensional poverty approach
This paper analyses the impact of financial crises on the Sustainable Development Goal of eradicating poverty. To do so, we develop an adjusted Multidimensional Poverty Framework (MPF) that includes 15 indicators that span across key poverty aspects related to income, basic needs, health, education and the environment. We then use an econometric model that allows us to examine the impact of financial crises on these indicators in 150 countries over the period 1980–2015. Our analysis produces new estimates on the impact of financial crises on poverty’s multiple social, economic and environmental aspects and equally important captures dynamic linkages between these aspects. Thus, we offer a better understanding of the potential impact of current debt dynamics on Multidimensional Poverty and demonstrate the need to move beyond the boundaries of SDG1, if we are to meet the target of eradicating poverty. Our results indicate that the current financial distress experienced by many low-income countries may reverse the progress that has been made hitherto in reducing poverty. We find that financial crises are associated with an approximately 10% increase of extreme poor in low-income countries. The impact is even stronger in some other poverty aspects. For instance, crises are associated with an average decrease of government spending in education by 17.72% in low-income countries. The dynamic linkages between most of the Multidimensional Poverty indicators, warn of a negative domino effect on a number of SDGs related to poverty, if there is a financial crisis shock. To pre-empt such a domino effect, the specific SDG target 17.4 on attaining long-term debt sustainability through coordinated policies plays a key role and requires urgent attention by the international community
Multiple agency perspective, family control, and private information abuse in an emerging economy
Using a comprehensive sample of listed companies in Hong Kong this paper investigates how family control affects private information abuses and firm performance in emerging economies. We combine research on stock market microstructure with more recent studies of multiple agency perspectives and argue that family ownership and control over the board increases the risk of private information abuse. This, in turn, has a negative impact on stock market performance. Family control is associated with an incentive to distort information disclosure to minority shareholders and obtain private benefits of control. However, the multiple agency roles of controlling families may have different governance properties in terms of investors’ perceptions of private information abuse. These findings contribute to our understanding of the conflicting evidence on the governance role of family control within a multiple agency perspectiv
Converging Currents in Climate-Relevant Conservation: Water, Infrastructure, and Institutions
Ecologists and economists have long talked past each other, but climate change presents similar threats to both groups. Water may serve as the best means of finding a common cause and building a new vision of ecological and economic sustainability, especially in the developing world
Business constraints and growth potential of micro and small manufacturing enterprises in Uganda
Ugandan micro and small enterprises (MSEs) still perform poorly. Studies associating poor performance of manufacturers with lack of finance and low investment ignore micro enterprises. Those focusing on MSEs are either exploratory in nature or employ a descriptive analysis, which cannot show the extent to which business constraints explain the performance of MSEs. Thus, this paper tries to examine the extent to which the growth of MSEs is associated with business constraints while controlling for owners’ attributes and firms’ characteristics. The results reveal that MSEs’ growth potential is negatively associated with limited access to productive resources (finance and business development services), high taxes and lack of market access
Business Constraints and Growth Potential of Micro and Small Manufacturing Enterprises in Uganda
Financial Determinants of Consumer Price Inflation. What Do Dynamics in Money, Credit, Efficiency and Size Tell Us?
The sustainability of changes in agricultural technology:The carbon, economic and labour implications of mechanisation and synthetic fertiliser use
New agricultural technologies bring multiple impacts which are hard to predict. Two changes taking place in Indian agriculture are a transition from bullocks to tractors and an associated replacement of manure with synthetic fertilisers. This paper uses primary data to model social, environmental and economic impacts of these transitions in South India. It compares ploughing by bullocks or tractors and the provision of nitrogen from manure or synthetic urea for irrigated rice from the greenhouse gas (GHG), economic and labour perspective. Tractors plough nine times faster than bullocks, use substantially less labour, with no significant difference in GHG emissions. Tractors are twice as costly as bullocks yet remain more popular to hire. The GHG emissions from manure-N paddy are 30 % higher than for urea-N, largely due to the organic matter in manure driving methane emissions. Labour use is significantly higher for manure, and the gender balance is more equal. Manure is substantially more expensive as a source of nutrients compared to synthetic nutrients, yet remains popular when available. This paper demonstrates the need to take a broad approach to analysing the sustainability impacts of new technologies, as trade-offs between different metrics are common
Correcting Inflation with Financial Dynamic Fundamentals: Which Adjustments Matter in Africa?
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