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The study assesses the determinants of the financial stability of the Czech commercial insurance companies within the period 2004-2019. The eight macroeconomic determinants of the financial stability of insurance are analysed for both insurers, i.e., with predominated life and non-life insurance. The generalized method of moments is used for empirical analysis. The results show four macroeconomic variables were statistically significant determinants of financial stability in the case of non-life insurers and three determinants influenced the financial stability of life insurers. The study concludes that the determinants of the financial stability of non-life insurers were different that in the case of life insurers. Moreover, the impact of several determinants is also different in case life and non-life insurers in the Czech Republic.

Copyright of Gharee for Economics & Administration Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Gharee for Economics & Administration Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Optimum: Journal of Economics & Management Sciences / Ekonomi ve Yönetim Bilimleri Dergisi is the property of Optimum: Journal of Economics & Management Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Turkish Studies - Economics, Finance, Politics is the property of Electronic Turkish Studies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We construct a provincial financial stability index, and use panel vector autoregression to construct a model for empirical testing. We find that local governments' reliance on land grant premiums amplifies the impact on financial stability. In addition, the relationship between the real estate market and the financial system allows real estate price fluctuations to significantly affect market participants, further impacting financial system stability. Finally, in the eastern region, land price fluctuations have a less adverse impact on financial stability, while in other regions, rising commodity real estate prices are the biggest threat to financial stability. [ABSTRACT FROM AUTHOR]

The study aims to explore the impact of governance and macroeconomic conditions on financial stability in developed and emerging countries. The study sample comprised 122 countries from 2013 to 2020, and a comprehensive set of variables was used to construct the financial stability index (FSI). The results of the two-step system GMM analysis, robust with D–K regression, indicate that interest rate, GDP growth, voice and accountability, political stability and absence of violence/terrorism, government effectiveness, regulatory quality, and control of corruption have a positive and statistically significant impact on financial stability. However, inflation, money supply, and the rule of law have adverse and insignificant effects on financial stability. Notably, the findings vary between developed and emerging countries due to differences in governance and macroeconomic conditions and their role in financial stability. The study concludes that regulatory governance and macroeconomic conditions are crucial for financial stability. These outcomes are significant for central banks, academia, and policymakers, as they emphasize the need for stable financial systems and sustainable, balanced growth through governance and macroeconomic conditions. [ABSTRACT FROM AUTHOR]

Our aim of this paper is to determine whether inflation targeting could improve economic growth and financial stability in 35 emerging economies of which 19 inflation-targeting and 16 non-inflation-targeting countries over the 1995–2017 period. To this end, we first determine the preconditions needed to adopt the inflation targeting regime using the Qualitative Comparative Analysis method (QCA). We then construct a Financial Stability Index (FSI) for emerging markets using a Principal Components Analysis (PCA). Finally, we determine the impact of shocks on economic growth and financial stability in inflation-targeting and non-inflation-targeting countries through a Panel VAR model estimated using the GMM method. The results show that some structural and institutional preconditions, should be set up during the pre-adoption period. In addition, the results indicate that the inflation-targeting regime allows emerging countries to control their economic growth and financial stability in the event of shocks to a greater extent than non-targeting countries, although the magnitude of the shock persists only in the short run, given that economic and financial conditions return to their normal state in the long run. [ABSTRACT FROM AUTHOR]

Based on the data collected from 32 countries, the empirical test is conducted by constructing the financial stability index FSCI (Financial Stability Conditions Index). Results found that the changes in population age structure will affect financial stability, but the effects of different age structures are inconsistent, and there is country heterogeneity. The laborers are the main force in financial markets and significantly contribute to financial stability. The elderly population is also conducive to long‐term financial stability due to their low‐risk attitude. Results also confirmed that a change in population age structure affects household asset allocation prices. [ABSTRACT FROM AUTHOR]

This paper selects indicators from the macro-risk surface and incorporates them in the time-varying parameter factor augmented vector autoregression model to construct a financial stability index for China. It further uses the Bayesian Markovian switching vector autoregressive model to explore the asymmetric effect of financial stability on economic stability. This study shows that China’s financial stability has gradually improved over the past nearly two decades and is characterised by two regimes’ shifts between financial volatility and stability. Furthermore, the effects of financial stability shocks on economic stability variables are all significantly asymmetric. The financial stability period plays a stable and sustained role in promoting economic stability variables, while the stabilising effect of the financial volatility phase on economic variables is weakened. In addition, financial stability contributes more significantly to consumption stability than output, price and investment stability. This paper provides valuable references for policymakers to maintain financial and economic stability. [ABSTRACT FROM AUTHOR]

The aim of this study is to examine the effectiveness of macroprudential policies and unconventional monetary policy instruments implemented in Turkey in the post-2008 global financial crisis period, with the change of financial stability and the general level of prices. In the analyzes carried out based on "quarterly" data for the period 2009Q1-2022Q1 in Turkey, the policy rate and interest rate corridor representing the unconventional monetary policy; on the other hand, credit/GDP gap, loan collateral ratio, debt-income ratio and leverage ratio were chosen as the variables to represent macroprudential policies. BIST financial index, bond interest, currency basket, credit/GDP and CDS premium variables were taken as basis in calculating the financial stability index. Time series approaches were used in the research, whether the variables were cointegrated or not was tested with the ARDL Bounds Test Approach, and long-term coefficients were estimated using DOLS and FMOLS methods. The findings of the study, in which the effectiveness of macroprudential policies and unconventional tools in Turkey are discussed together and with more than one variable, are summarized as follows. Series of macroprudential policy instruments and financial stability index, as well as unconventional monetary policy instruments and financial stability index and CPI variables are cointegrated in the long run. The credit/GDP deficit, which is one of the macroprudential instruments, has a positive effect on financial stability, the debt-income ratio and leverage ratio variables negatively affect financial stability, and on the other hand, the policy rate, which is one of the unconventional instruments, affects financial stability negatively and CPI positively. [ABSTRACT FROM AUTHOR]

Financial institutions operating in a stable financial system seem to be willing to support the realization of the sustainable development goals (SDGs). This view assumes that financial stability is crucial for sustainable development. We investigate the effect of financial stability on sustainable development. We use a unique financial stability index, sustainable development index and four SDG indicators. We analyse 26 countries from 2011 to 2018 using the system GMM method. The findings of the sustainable development index analysis show that financial stability has a significant effect on the level of sustainable development and the effect is negative in Asian countries. European and Asian countries have a high sustainable development index compared to African countries. The result of the individual SDG analyses show that financial stability has a significant effect on SDG3. Financial stability has a negative effect on SDG10 in Asian countries and a negative effect on SDG3 during periods of economic prosperity. Financial stability has a positive effect on SDG3 and SDG7 in countries where the banking system have high capital buffer. The results show that the effect of financial stability on sustainable development depends on how sustainable development is measured. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Economics & Administrative Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Gharee for Economics & Administration Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study examines the effect of financial stability and economic freedom levels of developing countries on economic growth. A financial stability index was calculated in this study to represent the financial stability of developing countries, whereby the Heritage Foundation "Economic Freedom Index" was used to represent their economic freedom. Econometric analyzes were conducted within the framework of the 2000-2020 period in 16 developing countries of the upper-middle income bracket. As a result of the models estimated utilizing the Moment Quantile Regression Method (MM-QR), it was observed that the effect of economic freedom and financial stability on economic growth is positive and statistically significant for the country group. These research findings hold significant implications for policy makers, economists and researchers. [ABSTRACT FROM AUTHOR]

Copyright of Bingol University Journal of Economics & Administrative Science is the property of Bingol University Journal of Economics & Administrative Science and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study constructs a financial stability index for the Islamic financial system of Indonesia using the dynamic factor model and then links it to economic performance employing a nonlinear autoregressive distributed lag (NARDL) model. The financial stability index constructed from a broad range of macrofinancial variables captures well the 2008-2009 global financial crisis and the 2020-2021 COVID 19 pandemic crisis periods. The most significant results suggest that positive and negative shocks in Islamic financial stability in the long run increase and decrease economic performance, respectively. The quantile regression results also demonstrate that Islamic financial stability is statistically significant throughout all quantiles in promoting economic performance, although it plays a greater role at lower quantiles and diminishes when the economic performance is at a high level. Our results highlight that the stability of the Islamic financial system deepening would positively enhance economic performance.

Macroeconomic changes will impact financial market stability through certain pathways. This paper uses big data technology to analyze relevant research literature and determine the evaluation index of macroeconomic changes and the financial market stability index. The GARCH model is used to quantitatively measure macroeconomic changes as an independent variable in the empirical analysis. The stability index of the financial market is measured by the financial market stability evaluation index system, and the indexes that contribute more to the stability of the financial market in the index system are explored as principal components using principal component analysis. The vector autoregressive model based on Lag 2 empirically analyzes the impact of macroeconomic changes on the stability of financial markets. Macroeconomic changes promote financial market stability in one period but can negatively impact it in the second period. Its unfavorable impact on financial market stability will outweigh the positive impact, i.e., eventually. Macroeconomic changes will adversely affect the stability index of financial markets. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the effect of financial inclusion on bank stability, and the effect of bank stability on financial inclusion from 2011 to 2020. Design/methodology/approach: This study analyses 33 countries which are divided into Asian countries, African countries, European countries and countries in the region of the Americas and using the panel regression method. Findings: The analysis for the impact of financial inclusion on bank stability shows that high levels of financial inclusion have a significant positive impact on bank stability. The regional results show that financial inclusion improves bank stability in African countries and in countries in the region of the Americas while financial inclusion impairs bank stability in European countries. The analysis for the impact of bank stability on financial inclusion shows that bank stability has a significant effect on financial inclusion. The regional analysis shows that greater bank stability decreases financial inclusion in European and African countries while greater bank stability increases financial inclusion in countries in the Americas region. The results suggest that the effect of financial inclusion on bank stability, and the effect of bank stability on financial inclusion, depends on how financial inclusion and bank stability are measured and the region examined. Originality/value: Existing studies have not examined the effect of financial inclusion on capital-based measures of bank stability and have not examined the effect of capital-based measures of bank stability on the level of financial inclusion. [ABSTRACT FROM AUTHOR]

Copyright of International Journal of Business & Development Studies is the property of University of Sistan & Baluchestan and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In the context of the coronavirus pandemic and the armed conflict between Russia and Ukraine, energy security is essential to economic challenges nowadays. The basis for the proper operating of the energy sector is to ensure a stable supply of energy to end users and to secure finances of energy companies, so that they can operate sustainably in times of uncertainty. In our studies, we have addressed this issue with the main objective of assessing the state of energy security from the perspective of the stability of the financial situation of energy sector companies in the context of the global energy crisis and a sustainable energy future. Financial indicators and a canonical variable analysis were used to examine the financial situation of companies in the energy sector and to describe links between selected groups of energy companies. Such companies operating during political and economic instability did not record worse financial results than in the year 2018. It was found that in case-studied firms, total debt decreased and moreover, liquidity and return on assets improved. Companies have focused on securing their financial health and ensuring the stability of their energy supplies and the issue of the environmental impact of energy production has unfortunately become a secondary concern. Nevertheless, in the event of further crises, it is reasonable to assume that a focus on maintaining liquidity and generating profits for energy companies will be more important to companies than environmental challenges and the fight against climate change. [ABSTRACT FROM AUTHOR]

International policymakers prioritize financial stability and inclusion, but often view them as separate goals, overlooking potential overlap and trade-offs. If synergies and trade-offs between the two concepts are not recognized and understood, policy design may yield less-than-ideal results. This paper provides a systematic review of the theoretical literature on financial inclusion and financial stability as well as empirical research initiatives examining the relationship between the two concepts. We found that current studies do not always present a unified theoretical approach or conceptual framework to explain the channels of the relationship between financial inclusion and stability. Empirical studies to date offer divergent views on the financial inclusion and stability nexus. While some studies are inconclusive, some also suggest that financial inclusion has a positive and significant impact on financial stability, as explained by the institutional theory. While other studies, supported by the aggressive credit expansion theory, reveal that financial inclusion can have a negative influence on financial stability. Through this comprehensive review, we intend to improve awareness and cohesion among scholars and policy makers of financial inclusion and financial stability while also facilitating the development of solid foundations to address future research and policy making challenges. [ABSTRACT FROM AUTHOR]

Financial stability is one of the main factors for a country's economic sustainability nowadays. Financial instability has adverse effects on the economy which can lead to the financial crisis. This research tries to answer how monetary policy related to Indonesian financial stability in the short and long term, how specific the relations between its parts such as money supply, interest rate, and exchange rate to indonesian financial stability, and which one of these parts that have ways more effective to influence Indonesian financial stability. This research data use time series quarterly as quantitative data in Indonesia. By employing econometric models of error correction on quarter data that consist of the stationary stochastic process, long-run model and cointegration approach and error correction model, this model can indicate how quickly the effect of the money supply, interest rate or exchange rate is fully accepted by the financial stability in the short term. The finding of this study showed that the increase in interest rate began to be able to improve indonesian financial stability responsively in four times the period, namely an increase of one percent in interest rate could increase 0.4161 percent of financial stability in Indonesia. [ABSTRACT FROM AUTHOR]

Purpose: This purpose of this study aims to critically evaluate the feasibility of establishing a single currency area within the South Asian Association for Regional Cooperation (SAARC) by examining the economic integration of its member states. The analysis focuses on the extent to which the region meets the criteria of the optimum currency area (OCA) theory, particularly in terms of business cycle synchronization, labor mobility and capital flows. Design/methodology/approach: Using a vector autoregression (VAR) model within the aggregate demand-aggregate supply framework, this research investigates the symmetry of supply and demand shocks across SAARC economies. The study analyzes the synchronization of business cycles and the mobility of labor and capital to determine the readiness of SAARC for a unified currency. Findings: The results indicate significant asymmetries in business cycles among SAARC countries, with substantial disparities in economic responses to shocks. These findings suggest that the region lacks the necessary economic synchronization required for a successful single currency area. Limited labor and capital mobility further complicate the potential for economic integration within SAARC. Research limitations/implications: The study is constrained by data inconsistencies and the limited range of economic indicators available for SAARC countries. Future research should expand the analysis to include a broader set of socioeconomic factors and more comprehensive data sets to better assess the region's potential for monetary integration. Practical implications: The study highlights the challenges of forming a currency union in South Asia due to economic disparities and limited mobility. However, gradual steps toward deeper regional integration, improved financial infrastructure and enhanced cross-border collaboration could foster long-term economic stability, growth and social cohesion in the SAARC region. Social implications: The research highlights the potential social benefits of enhanced economic integration, such as increased community resilience and social cohesion, while also warning of the risks associated with premature monetary union in a region with significant economic disparities. Originality/value: This study provides a detailed analysis linking the theoretical framework of the OCA to the practical realities of economic integration in South Asia. By focusing on the specific economic conditions of SAARC member states, the research offers valuable insights for policymakers considering regional monetary integration. [ABSTRACT FROM AUTHOR]

This study examined the pragmatic functions of hedging strategies used by the Federal Reserve System (Fed) Chair during press conferences. The Fed's significant influence on U.S. monetary policy and global financial markets makes its communication methods crucial yet linguistically underexplored. This study employed a mixed-methods approach to examine the frequency and types of hedges, their situational usage, and pragmatic functions. The findings revealed a notable use of approximators and shields to adapt to the complexities of financial communication, with adaptors and plausibility shields being the most common. The Fed Chair employed hedging strategies to address sensitive economic issues, uncertain policies, and matters affecting financial markets and public perception. These hedging strategies were used to mitigate potential criticism, enhance flexibility, soften the tone, maintain credibility, ensure effective information delivery, and improve politeness. The study contributed to the understanding of linguistic hedging strategies in financial communication and underscored the strategic use of language in economic policy-making and financial stability. [ABSTRACT FROM AUTHOR]

The article analyzes the available theoretical studies on assessing both the financial state and financial security of an enterprise based on various approaches, including bankruptcy model, simulation, etc. The authors develop mathematical and structural models for assessing the financial state of an enterprise by means of systems analysis, as well as its formalization based on the apparatus of fuzzy logic. The set of aggregating functions is substantiated for generalizing the quantitative evaluation parameters that describe the financial security, liquidity and solvency, business activity, and profitability of the company under study. Moreover, to obtain an accurate final decision, the mathematical model takes into account the company's business reputation, which is evaluated based on five qualitative parameters. The experimental verification pool of the developed model for assessing the company's financial state includes 15 enterprises. [ABSTRACT FROM AUTHOR]

This insightful study delves into the intricate relationship between key digital finance adoption indicators and the stability of the banking sector in Ethiopia, an emerging economy undergoing rapid digitalization. Covering annual data from 1991 to 2022 and utilizing an autoregressive distributed lag (ARDL) approach alongside Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) techniques, the researchers uncover thought-provoking findings that challenge conventional wisdom. Contrary to expectations of a positive long-term association, the analysis reveals a statistically significant negative relationship between both internet usage and mobile phone subscriptions and Ethiopia's banking system's financial stability. This robust result, validated through rigorous robustness checks, suggests that the breakneck pace of digital transformation may outpace the development of robust regulatory frameworks and risk management practices, ultimately undermining the overall stability of the financial sector. Interestingly, the short-term analysis presents a more nuanced picture, with mobile phone subscriptions exhibiting a stabilizing effect in the immediate aftermath. This intriguing dichotomy highlights the complex and evolving dynamics at play, where the challenges of integrating digital finance with the traditional banking infrastructure and the persistence of informal financial activities potentially offset the benefits of enhanced financial inclusion and transaction efficiency. These thought-provoking findings carry crucial implications for policymakers and industry stakeholders navigating the digital revolution. Policy implications emphasize the need for robust regulatory frameworks, enhanced cyber security measures, and improved financial literacy. The findings underscore the importance of a nuanced approach to digital finance in emerging economies, advocating for continuous adaptation of policies to address the evolving landscape of financial technology. Continued inquiry can better guide policies that foster digital transformation while safeguarding stability, especially in rapidly developing regions like sub-Saharan Africa. Article Highlights: Digital finance growth may harm bank stability in Ethiopia. Short-term benefits from mobile money exist, but long-term risks outweigh them. Strong regulations and financial education needed to balance digital growth and stability. [ABSTRACT FROM AUTHOR]

The current study aims to develop a financial stability model in Iraq; after reviewing the relevant literature and sources related to financial stability and considering Iraq's social, economic, political, and cultural conditions, a conceptual model and a research questionnaire have been developed. Based on the developed conceptual model, macro variables at the level of the economy, micro variables at the level of companies, the environmental variables of companies, and corporate governance have been selected as model dimensions. Each dimension has several components, including several indicators; 39 indicators were measured through questions in 2024. The research questionnaire was subjected to the opinion of 21 experts with sufficient experimental and academic records on this subject, and by using the Analytic Hierarchy Process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) methods, the results were analyzed, and the final model was extracted. In this model, the scientific method used to analyze the results determines the weight of each dimension, component, and indicator. The results of this research show that the dimensions of corporate governance, the variables of the company environment, micro variables at the company level, and macro variables at the economic level with coefficients of 0.345, 0.251, 0.236, and 0.168, respectively, have the most significant impact on the ranking of the company's financial stability. So far, research has yet to be conducted to present the financial stability model of Iraqi companies. Therefore, the present research is one of the first studies in this respect, which presents a model both qualitatively (by designing a questionnaire and conceptual model) and quantitatively (through a mathematical model) to measure financial stability that can help the development of science and knowledge in this field. [ABSTRACT FROM AUTHOR]

China's 2018 environmental protection tax (EPT) reform was introduced in response to increasing concerns about environmental degradation. It aimed to use fiscal policy to enhance environmental governance while fostering economic productivity. This study employs a difference-in-differences approach to analyze panel data from publicly listed companies between 2009 and 2019. It examines the reform's influence on total factor productivity (TFP) in pollution-intensive industries, addressing both environmental and economic objectives. The results reveal that the tax reform significantly enhances TFP, acting as a robust catalyst for economic growth rather than a barrier. This effect is particularly strong in state-owned enterprises and those with less-severe financing constraints. Mechanism analysis indicates that the reform boosts TFP through the promotion of green innovations and alleviation of financing constraints. These findings provide empirical evidence at the micro-level of the reform's efficacy in promoting sustainable business practices. The study offers insights for future environmental tax policies in China and underscores the necessity of aligning environmental and economic strategies to achieve sustainable development. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to apply machine learning (ML) to identify new financial elements managers might use for earnings management (EM), assessing their impact on the Standard Jones Model and modified Jones model for EM detection and examining managerial motives for using these components. Design/methodology/approach: Using eXtreme gradient boosting on 23,310 the US firm-year observations from 2012 to2021, the study pinpoints nine financial variables potentially used for earnings manipulation, not covered by traditional accruals models. Findings: Cost of goods sold and earnings before interest, taxes, depreciation and amortization are identified as the most significant for EM, with relative importances of 40.2% and 11.5%, respectively. Research limitations/implications: The study's scope, limited to a specific data set and timeframe, and the exclusion of some financial variables may impact the findings' broader applicability. Practical implications: The results are crucial for researchers, practitioners, regulators and investors, offering strategies for detecting and addressing EM. Social implications: Insights from the study advocate for greater financial transparency and integrity in businesses. Originality/value: By incorporating ML in EM detection and spotlighting overlooked financial variables, the research brings fresh perspectives and opens new avenues for further exploration in the field. [ABSTRACT FROM AUTHOR]

This paper aims to examine the effect of the budget balance on national financial security in the linkage of macroeconomic variables by using the VAR model approach from 1995 to 2020 in Vietnam. Moreover, the methods of Impulse Response Function (IRF) and variance decomposition (FEDV) analysis show the impact of budget balance on the financial security situation in the short run. The results indicate that budget balance has a positive effect in the short term and explains about 2.04% of Vietnam's financial security index. Several policy implications are suggested to enhance the financial stability in Vietnam during the Covid-19 pandemic. [ABSTRACT FROM AUTHOR]

The aim of the study is to assess the impact of the Russian aggression against Ukraine in 2022 on the stability of the global financial market. For the purpose of the analysis, the Financial Stress Index (FSI) published by the American Office of Financial Research (OFR) was used. The index covers financial markets of developed and developing countries, as well as the United States market. The period from 1 February 2022 to 31 December 2023 was analysed. The study consists of four parts. The first part presents the economic consequences of Russian aggression against Ukraine. The second part explains the concept of financial market stability. The third part presents the essence of the OFR FSI index. In the fourth part, an assessment of the level of stability of the global financial market after the Russian aggression against Ukraine was made using the OFR FSI index. The study showed that the war caused a significant increase in tensions in financial markets, leading to increased instability. Key factors affecting the global financial market included an increase in risk and uncertainty, as well as changes in the debt market. However, from mid-April 2023, the situation in the global financial market began to stabilise. [ABSTRACT FROM AUTHOR]

Maintaining the stability of the financial system is of great significance to a country's economic security, and accurate measurement of systemic financial risks is the basic premise. This paper selects nine important factor index data in China's five markets, uses the credit weight method and extreme value method to construct a time-sensitive China financial stress index. It is concluded that the change of the financial stress index precedes the change of the economic development trend, which proves the guiding significance of constructing the stress index to economic development. Finally, reasonable suggestions were put forward to relevant departments. [ABSTRACT FROM AUTHOR]

The study assesses the stress level in real incomes of population (in terms of wages) and real financial results of enterprises and organizations in the regions of the Russian Federation during the period of impact of the pandemic and sanctions shocks of 2018–2023. The study used a number of deflation techniques, as well as methods for eliminating seasonal and random components in the dynamics of the indicators. The level of stress in real incomes was evaluated using the author's previously developed stress index, which is a moving (in increments of one month) difference between the standard deviation and the average annual growth rate of each indicator studied, and the method of its decomposition by sources was applied. The integral real income stress index was calculated as the sum of two partial stress indices normalized by the method of equivalent variances across the entire spatiotemporal sample. The study revealed the similarities and differences in the response of real incomes in regions and federal districts to the impact of prepandemic, pandemic, and new sanctions shocks, determined the stress levels of real wages and real financial results of enterprises and organizations, and identified spatial effects of stress distribution. It has been established that a decrease in the level of real income stress on a national scale occurred due to greater stability in the growth rates of the studied indicators in high-income regions, while the positive effect of interregional diversification of real income growth rates on the reduction of the all-Russian real income stress has not been empirically confirmed. [ABSTRACT FROM AUTHOR]

This paper aims to assess banking stability and its determinants in Portugal during the period of 2010—2019. The empirical study starts with the construction of an index, which reflects the aggregated banking stability index (ABSI), using financial soundness indicators (FSI) over the period of 2010–2019, on a quarterly basis. The ABSI is then used as the dependent variable to assess the determinants of the Portuguese banking stability. The independent variables were classified into macroeconomic and financial variables, respectively, and the ARMA conditional least square method was considered. The findings suggest an improvement in stability since 2017, and point to significant macroeconomic early warning indicators, such as the growth rate of the consumer price index (%ΔCPI), as well as financial ones, such as the ratio of the second money multiplier (M2) to gross domestic product (GDP). This paper contributes to the banking stability literature by examining the Portuguese case for the first time. The results put in evidence that both macroeconomic and financial indicators can be useful predictors of banking instability. [ABSTRACT FROM AUTHOR]

Accurate measurement of systemic financial risk is crucial for maintaining the stability of financial markets. Taking China as the subject of investigation, the Chinese Financial Stress Index (CFSI) indicator system was constructed by integrating six dimensions and employing Gray Relation Analysis (GRA) to reduce the dimensionality of the indicators. The CFSI was derived using the Attribute Hierarchy Model (AHM) method with the Criteria Importance Through the Intercriteria Correlation (CRITIC) method, and an Improved Gravitational Search Algorithm (IGSA)-optimized Radial Basis Function Neural Network (RBFNN) was proposed for out-of-sample prediction of CFSI trends from 2024 to 2026. By analyzing the trends in financial pressure indicators, the intricate relationship between financial pressure and economic activity can be effectively discerned. The research findings indicate that (1) the CFSI is capable of accurately reflecting the current financial stress situation in China, and (2) the IGSA-RBFNN demonstrates strong robustness and generalization capabilities, predicting that the CFSI index will reach a peak value of 0.543 by the end of 2024, and there exists a regular pattern of stress rebound towards the end of each year. The novel methodology enables policymakers and regulatory authorities to proactively identify potential risks and vulnerabilities, facilitating the formulation of preventive measures. [ABSTRACT FROM AUTHOR]

The need for financial stability became apparent after the devastating events of the 2008 financial crisis. It was around this time that central banks around the world started to construct and implement scientific methods to assess financial stability. This research gives a comprehensive understanding of financial stability and makes use of scientific methodology by constructing the financial stress index for South Africa from periods 2006 through 2015 to predict and attain financial stability. After the 2008 global financial crisis, South African policymakers have put in place some policies and tools to enhance financial stability. To complement these policies, a new financial framework was developed, that is, the twin peaks model to continuously gather data and asses financial stability on a continuous basis. To put this framework into practice the financial stress indicator or index acted as a single comprehensive tool to measure and monitor stability. Included in this index are indicators that capture the different dimensions of the banking sector. The results gathered from this index contribute to the understanding of financial stability and how it is measured. It was found that the volatility or patterns of the financial stress index could be used as predictions and early warning tools for policymakers or the Central Bank to step in and contain potential risks. Moreover, from the empirical data collected the financial stability policies in South Africa are effective, as the financial stability index after the period of crises remained stable.