Pricing Protest The Response Of Financial Markets To Social Unrest
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Pricing Protest The Response Of Financial Markets To Social Unrest
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2021-03-19
Pricing Protest The Response Of Financial Markets To Social Unrest written by International Monetary Fund and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-19 with Business & Economics categories.
Using a new daily index of social unrest, we provide systematic evidence on the negative impact of social unrest on stock market performance. An average social unrest episode in an typical country causes a 1.4 percentage point drop in cumulative abnormal returns over a two-week event window. This drop is more pronounced for events that last longer and for events that happen in emerging markets. Stronger institutions, particularly better governance and more democratic systems, mitigate the adverse impact of social unrest on stock market returns.
Free Markets And Food Riots
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Author : John K. Walton
language : en
Publisher: John Wiley & Sons
Release Date : 2008-09-15
Free Markets And Food Riots written by John K. Walton and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-15 with Social Science categories.
This book describes and explains the extraordinary wave of popular protest that swept across the so-called Third World and the countries of the former socialist bloc during the period from the late 1970s to the early 1990s, in response to the mounting debt crisis and the austerity measures widely adopted as part of economic "reform" and "adjustment". Explores this general proposition in a cross-national study of the austerity protests, or the 'IMF Riots' that have affected so many debtor nations since the mid-1970s Argues that modern austerity protests, like the classical "bread riots" in eighteenth-century Europe are political acts aimed at injustice, but acts that are an integral part of the process of international economic and political restructuring Evaluates how modern food riots are most important for what they reveal about global economic transformation and its social, and political, consequences Provides a general framework (drawing on comparative and historical material) and then trace the cycle of uneven development, debt, neo-liberal reform, and protest in Latin America, Africa, Asia, the Middle East, and Eastern Europe Focusses on the role of women in structural adjustment and protest politics and the features of seemingly anomalous cases which qualify the general argument
Banking And Trading
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Author : Mr.Arnoud W.A. Boot
language : en
Publisher: International Monetary Fund
Release Date : 2012-10-02
Banking And Trading written by Mr.Arnoud W.A. Boot and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-02 with Business & Economics categories.
We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with the ability to generate risk from concentrated positions. When a bank engages in trading, it can use its ‘spare’ capital to profitablity expand the scale of trading. However, there are two inefficiencies. A bank may allocate too much capital to trading ex-post, compromising the incentives to build relationships ex-ante. And a bank may use trading for risk-shifting. Financial development augments the scalability of trading, which initially benefits conglomeration, but beyond some point inefficiencies dominate. The deepending of the financial markets in recent decades leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will persist for the foreseeable future. The analysis has implications for capital regulation, subsidiarization, and scope and scale restrictions in banking.
The Economic Consequences Of Social Unrest Evidence From Initial Public Offerings
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Author : Mr. Philip Barrett
language : en
Publisher: International Monetary Fund
Release Date : 2023-11-10
The Economic Consequences Of Social Unrest Evidence From Initial Public Offerings written by Mr. Philip Barrett and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-10 with Business & Economics categories.
Prior research attributes negative stock market performance following episodes of social unrest to elevated uncertainty. However, social unrest does not solely increase uncertainty, but separately acts to decrease investor sentiment. To determine which effect dominates, we study initial public offering (IPO) underpricing, which responds differently to changes to uncertainty and investor sentiment. Consistent with the notion that social unrest dampens investor sentiment, we find robust evidence that IPO first-day returns are lower during times of greater social unrest. Limits to arbitrage intensify the negative relation between social unrest and underpricing. Notably, strong institutional frameworks mitigate the impact of social unrest on underpricing, suggesting that quality institutions weaken the link between investor sentiment and returns.
Reported Social Unrest Index August 2023 Update
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Author : Mr. Philip Barrett
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-18
Reported Social Unrest Index August 2023 Update written by Mr. Philip Barrett and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-18 with Business & Economics categories.
This paper is the second update of the Reported Social Unrest Index (Barrett et al. 2022), outlining developments in global social unrest since March 2022. It shows that the fraction of countries experiencing major social unrest events has been stable. Reasons for social unrest can be broadly categorized as stemming from sdebate over constitutional issues, protests connected to specific policies, and other generalized disorder.
Fiscal Monitor April 2022
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2022-04-20
Fiscal Monitor April 2022 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-20 with Business & Economics categories.
Chapter 1 discusses how fiscal policy operates amid a sharp rise in uncertainty caused by the war in Ukraine. Chapter 2 discusses how international coordination on tax matters can support revenue, inclusion, tax transparency, and greener economies.
Regional Economic Outlook October 2021 Western Hemisphere A Long And Winding Road To Recovery
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Author : INTERNATIONAL MONETARY FUND.
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-21
Regional Economic Outlook October 2021 Western Hemisphere A Long And Winding Road To Recovery written by INTERNATIONAL MONETARY FUND. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-21 with Business & Economics categories.
An economic recovery is underway in Latin America and the Caribbean (LAC) but the pandemic still casts shadows on much of the region. The recovery was robust in the first quarter of 2021 but lost momentum in some countries in the second quarter, reflecting the rebound in COVID-19 cases. Real GDP is projected to grow by 6.3 percent in 2021, followed by a more moderate growth of 3 percent in 2022, but would not catch up with pre-pandemic trends in the medium term as persistent weakness in labor markets raises risks of scarring. Broadly favorable external conditions, high commodity prices, and pent-up demand support short-term growth, while monetary and fiscal policy reversals work in the other direction. Risks to the outlook are tilted downward. Main downside risks are the emergence of more transmissible and deadlier COVID-19 variants, tightening of global financial conditions, sovereign debt rollover risks, and social unrest as a year with heavy election schedule looms. Fiscal policy should allocate sufficient resources for health spending, including vaccination, and continue to support households and firms in a more targeted fashion while the pandemic persists, backed by credible assurances of medium-term debt sustainability to maintain access to finance. Monetary policy has started to address inflationary pressures but should continue to support economic activity insofar as the dynamics of inflation expectations permit. If rising inflation threatens to de-anchor inflation expectations, central banks should tighten monetary policy to signal a commitment to inflation targets and avoid persistent increases in inflation. Preemptive and decisive action should be accompanied with clear and transparent communication. Financial policy should shift from blanket support to targeted support of viable firms, to ensure that necessary labor and capital reallocations are not hindered. Supply-side policies should foster inclusive growth, including through progressive and growth-friendly tax reforms and measures to intensify climate change adaptation and mitigation.
The Financial Crisis Inquiry Report
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Author : Financial Crisis Inquiry Commission
language : en
Publisher: Cosimo, Inc.
Release Date : 2011-05-01
The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and has been published by Cosimo, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-01 with Political Science categories.
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
The Macroeconomic Impact Of Social Unrest
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Author : Metodij Hadzi-Vaskov
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-07
The Macroeconomic Impact Of Social Unrest written by Metodij Hadzi-Vaskov and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-07 with Business & Economics categories.
This paper explores the macroeconomic impact of social unrest, using a novel index based on news reports. The findings are threefold. First, unrest has an adverse effect on economic activity, with GDP remaining on average 0.2 percentage points below the pre-shock baseline six quarters after a one-standard deviation increase in the unrest index. This is driven by sharp contractions in manufacturing and services (sectoral dimension), and consumption (demand dimension). Second, unrest lowers confidence and raises uncertainty; however, its adverse effect on GDP can be mitigated by strong institutions and by a country’s policy space. Third, an unrest “event”, which is captured by a large change in the unrest index, is associated with a 1 percentage point reduction in GDP six quarters after the event. Impacts differ by type of event: episodes motivated by socio-economic reasons result in sharper GDP contractions compared to those associated with politics/elections, and events triggered by a combination of both factors lead to sharpest contractions. Results are not driven by countries with adverse growth trajectories prior to unrest events or by fiscal consolidations, and are robust to instrumenting via regional unrest.
World Protests
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Author : Isabel Ortiz
language : en
Publisher: Springer Nature
Release Date : 2021-11-03
World Protests written by Isabel Ortiz and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-03 with Political Science categories.
This is an open access book. The start of the 21st century has seen the world shaken by protests, from the Arab Spring to the Yellow Vests, from the Occupy movement to the social uprisings in Latin America. There are periods in history when large numbers of people have rebelled against the way things are, demanding change, such as in 1848, 1917, and 1968. Today we are living in another time of outrage and discontent, a time that has already produced some of the largest protests in world history. This book analyzes almost three thousand protests that occurred between 2006 and 2020 in 101 countries covering over 93 per cent of the world population. The study focuses on the major demands driving world protests, such as those for real democracy, jobs, public services, social protection, civil rights, global justice, and those against austerity and corruption. It also analyzes who was demonstrating in each protest; what protest methods they used; who the protestors opposed; what was achieved; whether protests were repressed; and trends such as inequality and the rise of women’s and radical right protests. The book concludes that the demands of protestors in most of the protests surveyed are in full accordance with human rights and internationally agreed-upon UN development goals. The book calls for policy-makers to listen and act on these demands.