Liquidity provision in transition economy: the lessons from Russia

This paper provides micro and macroeconomic analysis of the economic role of banks in the Russian economy. Using a large panel containing Russian enterprises’ balance sheet and income statement data, we evaluate the determinants of bank financing. Econometric model put out the existence of liquidity providing activity of Russian banks. Even though the overall liquidity provision system suffers from certain deficiencies, we demonstrate its importance in the macroeconomic context, using time series econometric analysis. Bank credit appears to be a significant factor in explaining the non-payment dynamics and use of informal financing. Finally, the uncertainty concept helps us to understand the reasons for a limitation of Russian banks in their liquidity providing role.liquidity; finance; transition; Russia; uncertainty; banks; inter-enterprise credit

Tuberculosis and poverty: the contribution of patient costs in sub-Saharan Africa – a systematic review

Background: Tuberculosis (TB) is known to disproportionately affect the most economically disadvantaged strata of society. Many studies have assessed the association between poverty and TB, but only a few have assessed the direct financial burden TB treatment and care can place on households. Patient costs can be particularly burdensome for TB-affected households in sub-Saharan Africa where poverty levels are high; these costs include the direct costs of medical and non-medical expenditures and the indirect costs of time utilizing healthcare or lost wages. In order to comprehensively assess the existing evidence on the costs that TB patients incur, we undertook a systematic review of the literature. Methods: PubMed, EMBASE, Science Citation Index, Social Science Citation Index, EconLit, Dissertation Abstracts, CINAHL, and Sociological Abstracts databases were searched, and 5,114 articles were identified. Articles were included in the final review if they contained a quantitative measure of direct or indirect patient costs for treatment or care for pulmonary TB in sub-Saharan Africa and were published from January 1, 1994 to Dec 31, 2010. Cost data were extracted from each study and converted to 2010 international dollars (I$). Results: Thirty articles met all of the inclusion criteria. Twenty-one studies reported both direct and indirect costs; eight studies reported only direct costs; and one study reported only indirect costs. Depending on type of costs, costs varied from less than I$1 to almost I$600 or from a small fraction of mean monthly income for average annual income earners to over 10 times average annual income for income earners in the income-poorest 20% of the population. Out of the eleven types of TB patient costs identified in this review, the costs for hospitalization, medication, transportation, and care in the private sector were largest. Conclusion: TB patients and households in sub-Saharan Africa often incurred high costs when utilizing TB treatment and care, both within and outside of Directly Observed Therapy Short-course (DOTS) programs. For many households, TB treatment and care-related costs were considered to be catastrophic because the patient costs incurred commonly amounted to 10% or more of per capita incomes in the countries where the primary studies included in this review were conducted. Our results suggest that policies to decrease direct and indirect TB patient costs are urgently needed to prevent poverty due to TB treatment and care for those affected by the disease

1951-09-27 Rowan County News

Rowan County News published on September 27, 1951

The successful establishment and continuation of community clubs in Middle Tennessee

It was the overall, central purpose of this study to identify, describe, and analyze certain factors which have contributed to the establishment and contamination of successful community clubs in Middle Tennessee. Specific purposes of this study are: 1. Concerning the original organization of successful community clubs: a. To determine the primary reasons for organization b. To determine the primary problems encountered at the time of organization c. To determine the characteristics of club president at the time of organization 2. Concerning the continuation of successful community clubs until their selection as Area Winners: a. To determine the factors that influenced the continuation and growth of the club from the date of organization until the date of becoming Area Winner b. To determine the primary problems that the club was encountering at the time it was declared an Area Winner c. To determine the characteristics of club presidents during the year of its selection as an Area Winner 3. Concerning the present and possible future continuation of successful community clubs: a. To determine the factors which motivate the continuation of the club b. To determine the primary problems which the club presently is encountering c. To determine each respondent’s comparison of the status of the club at the time of this study with the status at the end of the first year of organization. d. To determine each respondent’s comparison of the status of the club with its status at the date of winning the Area award e. To compare the present attitudes of the youth toward each community organization with those of youth at the time of its organization f. To determine present and possible future organizational objectives of the clubs g. To determine respondents’ predictions for the possible future success of the clubs h. To determine the characteristics of present club president

Liquidity Provision in Transition Economy: The Lessons from Russia

This paper provides micro and macroeconomic analysis of the economic role of banks in the Russian economy.Using a large panel containing Russian enterprises' balance sheet and income statement data, we evaluate the determinants of bank financing.Econometric model put out the existence of liquidity providing activity of Russian banks.Even though the overall liquidity provision system suffers from certain deficiencies, we demonstrate its importance in the macroeconomic context, using time series econometric analysis. Bank credit appears to be a significant factor in explaining the non-payment dynamics and use of informal financing.Finally, the uncertainty concept helps us to understand the reasons for a limitation of Russian banks in their liquidity providing role