Orientador: Maria Alejandra Caporale Madi / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-25T22:08:07Z (GMT). No. of bitstreams: 1 Toro_NuhuAbbayo_M.pdf: 3967794 bytes, checksum: a171718fe3a8deb0e89fefa61c289d9b (MD5) Previous issue date: 2011 / Resumo: Os impactos da crise financeira global na Nigéria têm se mostrado evidentes tanto no desempenho de seu sistema financeiro quando no setor real. Os sindicatos também foram profundamente afetados porque seu número diminuiu e muitos dos trabalhadores nos setores público, bancário e têxtil perderam seus empregos. A tese visa a demonstração da reação governamental e dos trabalhadores no pós-crise. As tensões entre o governo e os trabalhadores foram aprofundadas num contexto onde a flexibilização do trabalho coloca os sindicatos em posição de desvantagem para a barganha. Particularmente são analisadas as negociações acerca do salário mínimo. Entretanto, a crise financeira global também representou uma oportunidade para o governo da Nigéria considerar setores não relacionados ao petróleo como pilares do crescimento e desenvolvimento e para os sindicatos da Nigéria desenvolverem novas estratégias / Abstract: The global financial crisis' economic impacts on Nigeria have been evident in the performance of the financial system as well as in the real sector. The trade unions were also deeply affected because their number diminished and many of the workers in the public sector, banking and textile sectors lost their jobs. The thesis is aimed at showing the responses of the government and workers after the crisis. The tensions between the government and workers were deepened in the context where labor flexibilisation put the trade unions in a more disadvantaged position to bargain effectively. We particulary analyse the negotiations around the minimum wage. However, the global financial crisis also represented an opportunity to the Nigeria Government to look at non oil sectors as pillars of growth and development and for the Nigeria trade unions to develop new union strategies / Mestrado / Economia Social e do Trabalho / Mestre em Desenvolvimento Econômico

Title: The changes on the Spanish consumer behaviour after the financial crisis 2007. Applied towards a switch to store branded products. Authors: Adrián Cánovas Rosales and Iranzu Ibáñez Pérez Supervisor: Venilton Reinert Level: Bachelor in Business Administration, Marketing Key words: Consumers’ behaviour, financial crisis, leader brands, store brands, Spain, Spanish retailers… Purpose: The main research objective is to find out if there has been a change in Spanish consumer buying behaviour as a consequence of the current economic downturn. Method: The selected research method is an explorative research followed by descriptive one. Secondary data has been collected from books at Halmstad University’s Library and academic journals and other articles founded in the University’s Databases. Primary data has been obtained through a survey among middle class Spanish households. The selected research instrument is a questionnaire. Theoretical framework: We firstly define the consumer behaviour. Then, there is an explanation of the economic crisis focusing on the Spanish case. Finally, stores brands are defined. Conclusion: A summary of the findings obtained from our study are posted. Middle class Spanish households have reduced their consumption, becoming more rational and, consequently, switching to store brands. The limitations of the study as well as some suggestions for further researches are added in this section.

Understanding characteristics of unemployment can contribute to labour market policies. Therefore this thesis investigates gender and ethnic unemployment during the recent 2008-2010 recession and spatial autocorrelation of unemployment using multivariate analysis, decomposition techniques, and panel SAR model which is innovatively adopted to examine the mechanism of causing spatial autocorrelation.

We analyze whether liquidity is an important price factor in the US corporate bond market. In particular, we focus on whether liquidity effects are more pronounced in periods of financial crises, and especially, for bonds with high credit risk. We use a unique data set covering more than 20,000 bonds, between October 2004 and December 2008. We employ a wide range of liquidity measures and and that liquidity effects account for approximately 14% of the explained market-wide corporate yield spread changes. Moreover, we find that the economic impact of the liquidity measures is significantly larger in periods of crisis and for speculative grade bonds. (authors' abstract)

1 Abstract: Economic crises - nature and factors of its origin The purpose of my thesis is to analyze economic crises with focus on its origin, development and impact on society. The thesis is divided into three main parts: Introduction, Main body and Conclusion. The most important part of the thesis is the Main body that is further composed of seven self-contained chapters that deal with different aspects of the economic crises. Main body starts with introductory chapters 1-3 that discuss the meaning of the phrase economic crisis, its origin and determination among other commonly used titles that are frequently mistaken. Chapter number four describes history of important economic crisis such as The Great Depression 1929 and German Hyperinflation 1918- 1924. Chapter number five is subdivided into two parts and provides an outline of the origin of economic crisis and possible forecast of its origin. Chapter six defines the last financial crisis of 2009 and compares its impact to economy and counter-measures worldwide. Chapter number six illustrates possible solutions of the economic crisis and its prevention. Last part of the thesis is Conclusion that concentrates my thoughts and ideas about the thesis. Key words: economic crisis, financial crisis 2009, world economy

This paper aims to find macroeconomic and financial variables with ability to predict financial crises. A dataset covering 17 developed countries over the period 1870-2013 have been investigated using a logit model. We found commonly used macroeconomic variables such as terms of trade and consumption to be strong predictors within our sample. Whereas private debt and house prices are frequently found to be strong predictors, we found loans to business to be at least as good in predicting financial crises. Multivariate models are constructed as warning systems and used to analyze Sweden from 1975 up until 2016. The most efficient warning system give a strong signal before the first and moderate signal before the second crisis. In extension, regarding today’s climate the warning system provides no signal, suggesting low current risk. Policy makers can benefit from observing certain variables that are found significant in this study to improve financial stability and reduce socio-economic costs.

M.Comm. (Financial Management) / The costs of the 2007- 09 financial crises on global economies have resulted in new central bank rules to strengthen financial institutions. The question of whether there were any significant differences in capital structures between banks who were liquid and those who were liquidity constrained in the 2007– 2009 global financial crisis, still needs to be answered. Theoretical models on corporate failure partly explain how bank capital management impacts on whether a bank fails or not. This study investigates the differences in capital ratios between banks who were liquidity- stressed and those who were liquid. A comparative analysis of selected banking capital ratios were done followed by a discriminant analysis to determine if there is a relationship between the capital structures of liquid and liquidity- stressed banks. It was found that there were differences in capital structures of liquid and liquidity- stressed banks but capital ratios on their own, could not be used as early warning sign for bank failure.

The topic of financial contagion has attracted increased attention in economic literature over the past three decades; in particular after the Asian crisis of 1997. This dissertation investigates financial contagion and its effects on South Africa after the 2007 global financial crisis. In particular, it examines whether South Africa experienced contagion from the United States stock market to its own over the period 1 July 2007 to 1 April 2009 within the strict definition of contagion or otherwise: the fraction of exceedance events in the stock market that is left unexplained by its own covariates but is explained by the exceedance from another region. This is tested empirically with a binomial-nominal logistic model. In addition to this, various financial and trade transmission mechanisms are tested to empirically determine through which channels the crisis was propagated. The analysis makes use of quarterly data from January 2002 to April 2009, within an OLS framework, with a dummy variable differentiating the periods before and after the collapse of Lehman Brothers. The findings suggest that contagion was in fact not present in this crisis, which speaks to market rationality and indicates that the South African stock market did in fact react rationally to a changing macroeconomic environment over this period. The transmission mechanism analyses indicate that there was a change in the interdependence relationship between the two stock markets following the crash of Lehman Brothers in September 2008. It is apparent that both trade and financial variables played significant roles in the propagation of this crisis.

This dissertation investigates the effects of the financial crisis on the South African economy. In order to do this, an index which describes the financial conditions of the South African economy is constructed and computed. The index indicates that domestic South African financial conditions have deteriorated substantially during the period under study and so the study investigates how this has impacted on the country’s economic growth. A VAR model with South African variables is specified and used to assess the quantitative effects of the financial crisis on South African real GDP growth. Results suggest that the South African economy was not significantly affected by the crisis, but economic growth was slowed down and may still grow substantially slower in the next few years due to the financial crisis. These results corroborate the theoretical predictions and are also supported by previous studies.

The focus of this doctoral research is on developing an enhanced understanding of the nature and operational significance of fair values by studying the organisational systems and processes through which such values are produced. The external reporting of fair values in corporate financial statements has created significant controversy and debate, particularly during the global financial crisis with various accusations and competing defences as to whether or not such a form of accounting caused or exacerbated the crisis. Fair value accounting has been debated mainly from a relevance and reliability perspective, with much attention paid to the relative usefulness of fair value accounting to investors and claims and counter claims relating to the reliability and subjectivity of fair values compared to historical costing approaches. Investigation into implementation issues affecting reliability, however, has been little studied. While an emerging strand of the literature has pointed to the importance of recognising fair value accounting’s social constructed nature, relatively few research papers have examined the construction of fair values and the ways in which such values are shaped by social and organisational contextual influences. This research contributes to such an emerging literature through a detailed case study of the construction of fair values in an international financial services organisation. The primary focus of analysis is the work of the organisation’s central governing body in this area, namely its Fair Value Committee (FVC). The work of the FVC provides a rich empirical base from which to examine the key factors and perspectives influencing the organisation’s approach to fair values. In particular, through a detailed analysis of its formal minutes and supporting interviews with senior members of the FVC and other key organisational actors, the research documents and reflects on the nature and direction of change that the organisation experienced during the global financial crisis with respect to the operation of its fair value system. The main research findings in relation to the nature of the fair value system are: Firstly, the operation of an organisational fair value accounting system emerges not as a demonstrative example of objective, arm’s length pricing but as a social, relational process influenced by the organisational context. Secondly, in studying the way in which fair values are made sense of or constructed to be market consistent, patterns of sensemaking generally invoke a rational and prudent view of the market, which stimulates questioning as to whether fair value accounting is inherently pro-cyclical and exacerbates swings in the financial market. Thirdly, ‘fair value’ pricing should not be seen as being without a semblance of order and routine. Fourthly, the observed growing dependency of fair value accounting on valuation experts provides confirmation of the weakening jurisdictional authority of auditors and their monitoring role in overseeing fair value accounting. Finally, the research reveals clear evidence of the constitutive effects of fair value accounting on the organisation’s investment policy and permitted investments. As such, the acceptance of specialist models to construct fair values should not only be seen as being reflective of the particular organisational context but also serving in part to permit (and encourage) investments in esoteric financial instruments - a constitutive impact on the organisation's investment strategy and risk profile. The study encourages a greater empirical analysis of the operational construction, development and utilisation of fair values so as to advance knowledge and move the debate beyond polemical debates on the status of fair value accounting.