Banks in Albania have been playing an important role in providing credit to the households especially to the
housing sector and thereby contributing to the aggregate demand in the sector. Moreover, Albanian banks also extend
various types of loans against the individuals and corporate before the financial crisis. After the crisis the banks become
more restricted due to increase of non-performing loans as well as the macroeconomic volatility which is higher in
emerging economies like Albania. In my study I will focus on the influence of mortgage loans and nonperforming loans
in the country economic growth during the interval 2008-2013 that corresponds with the after crisis period.
EFFECTS OF MORTGAGE FINANCING ON THE FINANCIAL PERFORMANCE OF COMMERCIAL BANK...paperpublications3
Abstract: Mortgage financing over the years has been a preserve for mortgage financing companies but with time, commercial banks have started engaging in mortgage financing. An efficient housing finance system has significant importance both in meeting the housing needs of individuals and in reinforcing the development it is practiced by banks in Kitale and to figure out there short coming in mortgage financing do affect the performance of banks. The objectives of the study were to establish the effects of mortgage financing on Financial Performance of commercial banks in Kitale. The study had four specific objectives establish effects of repayment period, interest rates, income levels of borrowers and valuation cost on performance of mortgage financing in Trans Nzoia County of financial performance of commercial banks in Kitale. The study adopted descriptive research design which assists to examine the effects between mortgage financing and financial performance of commercial banks. The target population of the study was 16 Commercial Banks as they fulfil all characteristics and legally accepted by the Central Bank of Kenya. A census was applied as the method of systematically acquiring and recording information from the population. Qualitative and quantitative techniques were used to analyzing the data. After receiving questionnaires from the respondents the responses were edited, classified, coded and tabulated to analyze quantitative data using statistical package for social science (SPSS 21). Tables and charts were used for data presentation for easy understanding and analyzes.
Keywords: Repayment period, Interest rate, Mortgage valuation cost and financial performance.
Title: EFFECTS OF MORTGAGE FINANCING ON THE FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN TRANSNZOIA COUNTY
Author: Serem, Kipruto, Isaac, Prof. Namusonge, Gregory, Mr. Okwaro Fredrick
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
The aim of this paper is to examine the impact of bank minimum capital requirement on credit supply in Ivory Coast, over the period from 1982 to 2016. To this end, the ARDL method was used to study the nature of the relationship between our explanatory variables and bank credit supply in Ivory Coast. The study indicates some major results. The results showed that in the short term, real GDP per capita and bank size influence credit supply in Ivory Coast. Real GDP per capita acts negatively on credit supply in the short run while bank size has a positive influence on banks’ capacity to finance the economy. In the long run, the Cooke ratio and the openness rate have an impact on bank credit supply in Ivory Coast. The recovery of bank minimum capital requirements positively influences bank credit supply while the openness of the economy negatively impacts banks’ ability to offer bank credit. In terms of economic policies implications, monetary authorities must enforce and respect the policy of increasing bank minimum capital requirements. They must encourage banks to increase their banking assets.
Stelmakh: PrivatBank was not in need of nationalizationAndrewTikhonov2
Volodymyr Stelmakh is an iconic personality in the Ukrainian banking system. Two-time Governor of the National Bank of Ukraine (2000-2003 and 2004-2010) and former Chairman of PrivatBank’s Supervisory Board (2015-2016), V. Stelmakh has shared his views of the market’s largest bank nationalization and generally of the NBU’s policy in recent years in a Finbalance interview.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
EFFECTS OF MORTGAGE FINANCING ON THE FINANCIAL PERFORMANCE OF COMMERCIAL BANK...paperpublications3
Abstract: Mortgage financing over the years has been a preserve for mortgage financing companies but with time, commercial banks have started engaging in mortgage financing. An efficient housing finance system has significant importance both in meeting the housing needs of individuals and in reinforcing the development it is practiced by banks in Kitale and to figure out there short coming in mortgage financing do affect the performance of banks. The objectives of the study were to establish the effects of mortgage financing on Financial Performance of commercial banks in Kitale. The study had four specific objectives establish effects of repayment period, interest rates, income levels of borrowers and valuation cost on performance of mortgage financing in Trans Nzoia County of financial performance of commercial banks in Kitale. The study adopted descriptive research design which assists to examine the effects between mortgage financing and financial performance of commercial banks. The target population of the study was 16 Commercial Banks as they fulfil all characteristics and legally accepted by the Central Bank of Kenya. A census was applied as the method of systematically acquiring and recording information from the population. Qualitative and quantitative techniques were used to analyzing the data. After receiving questionnaires from the respondents the responses were edited, classified, coded and tabulated to analyze quantitative data using statistical package for social science (SPSS 21). Tables and charts were used for data presentation for easy understanding and analyzes.
Keywords: Repayment period, Interest rate, Mortgage valuation cost and financial performance.
Title: EFFECTS OF MORTGAGE FINANCING ON THE FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN TRANSNZOIA COUNTY
Author: Serem, Kipruto, Isaac, Prof. Namusonge, Gregory, Mr. Okwaro Fredrick
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
The aim of this paper is to examine the impact of bank minimum capital requirement on credit supply in Ivory Coast, over the period from 1982 to 2016. To this end, the ARDL method was used to study the nature of the relationship between our explanatory variables and bank credit supply in Ivory Coast. The study indicates some major results. The results showed that in the short term, real GDP per capita and bank size influence credit supply in Ivory Coast. Real GDP per capita acts negatively on credit supply in the short run while bank size has a positive influence on banks’ capacity to finance the economy. In the long run, the Cooke ratio and the openness rate have an impact on bank credit supply in Ivory Coast. The recovery of bank minimum capital requirements positively influences bank credit supply while the openness of the economy negatively impacts banks’ ability to offer bank credit. In terms of economic policies implications, monetary authorities must enforce and respect the policy of increasing bank minimum capital requirements. They must encourage banks to increase their banking assets.
Stelmakh: PrivatBank was not in need of nationalizationAndrewTikhonov2
Volodymyr Stelmakh is an iconic personality in the Ukrainian banking system. Two-time Governor of the National Bank of Ukraine (2000-2003 and 2004-2010) and former Chairman of PrivatBank’s Supervisory Board (2015-2016), V. Stelmakh has shared his views of the market’s largest bank nationalization and generally of the NBU’s policy in recent years in a Finbalance interview.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
Macroeconomic Variables and Financial Sector Output in Nigeriaijtsrd
The study investigated the effect of selected macroeconomic variables on the financial sector of Nigeria from 1986 to 2018. The study employed monetary target variables, namely money supply, interest rate, inflation rate, exchange rate and credit to private sector as proxies for macroeconomic variables while the outputs from financial sector on as dependent variable. The data obtained from the Central Bank of Nigeria Statistical Bulletin, were tested subjected to Augmented Dickey Fuller ADF test of stationarity, descriptive statistics, and Autoregressive Distributive Lag ARDL . The results revealed that macroeconomic variables has 99 significant short run effect but no significant long run effects on financial sector output in Nigeria. Specific findings revealed that money Supply M2 and Exchange Rate EXR have significant positive relationships with growth of the financial sector at current and third lags, respectively but inflation rate has a significant negative effect on financial sector output in the current period, while Interest rate INT and Credit to Private Sector had no significant effect on financial sector output within the short run periods in Nigeria. It thus recommended that the government employ inflation stabilisation policies and encourage export, and close borders to import on financial services into Nigeria. Dr. Loretta Anayoozuah | Prof. Steve N. Ibenta | Dr. Ikenna Egungwu "Macroeconomic Variables and Financial Sector Output in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd37966.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/37966/macroeconomic-variables-and-financial-sector-output-in-nigeria/dr-loretta-anayoozuah
Financial development is one of the issues in recent decades in order to achieve economic growth and development, as improve performance, especially in terms of oversight has led the government to curb corruption and to set rules and regulations. In most developing countries, the public sector plays an important role in the market. The aim of this study is to compare the situation between Iran and Norway during the period 1970 -2014 in the financial markets and the public. The results of the comparative two oil economies suggest that variables, including oil revenues share of GDP in the economy and how to deal with this income, has been affected the state and public of sector financial indicators examined in the two countries. Norway's economy has failed to manage this income, to help improve their financial situation. Aldo comparing the financial status of the situation, Iran has been more stable during the period under review. Besides, the financial indicators in Norway are more dynamic than Iran.
Colombia Banking System Update 2014 - 3rd quarterFerhat Guven
Credit growth in Colombia continues to be impressive, while mortgages are expanding at a faster pace than the national average for total loans. Banking penetration is in the middle of the range of Latin American countries. Net interest margins remain high for the system as a whole. Mortgage rates should converge closer to developed market levels over time.
"Highlights":
Healthy growth, but caution warranted
Inflation growth decelerating
Recovery of imports increased current account deficit
"In Focus":
What will the second Payment Directive bring about?, author: Edīte Gailiša
Using The ECM Approach between Growth of the Current Account Balance and Fore...AJHSSR Journal
ABSTRACT: The aim of this research to analyze relationship equilibrium to the long-term and short-term
between the current account balance and foreign exchange reserve. As datum from the world bankstarts from
1982 until 2018, the used methodology Error Correction Model (ECM). The result of the estimate and analysis
were the current account balance and foreign exchange reserve stationary at level with the ADF test. The
variables had relationship equilibrium for the long-term and had one-way causality. That was the foreign
exchange reserve that causesthe current account balance. For the long-term, the current account balance had
positively and not significantly to change the development of the foreign exchange reserves. From the shortterm disequilibrium relationship to the equilibrium relationship, the current account balance had negatively and
not significantly too to change the development of the foreign exchange reserves.The value of the current
account balance of Indonesia has a deficit in some periods. Itwould have a bad impact on domestic foreign
exchange reserves. To the Government, the Ministry of Trade to keep the export performance to the stability of
the current account balance surplus to increase the Indonesian economic growth.
KEYWORDS : Foreign Exchange Reserve, Current Account Balance, EC
This paper investigates the macroeconomic drivers of house
prices in Malaysia using VECM, over a fifteen year period.
The key macroeconomic factors investigated were real
GDP, bank lending rate, Consumer Sentiment, Business
Condition, Money Supply, number of loans approved, Stock
market (KLSE) and Inflation. The macroeconomic factors
found to be significantly related to the Malaysian housing
prices were inflation, Stock Market (KLSE), Money Supply
(M3) and number of residential loans approved. The results
hint at the potential of a housing price bubble as GDP
wasn’t identified as a driver of house prices.
Factors Influencing Exchange Rate: An Empirical Evidence from BangladeshMd. Shohel Rana
Factors Influencing Exchange Rate: An Empirical Evidence
from Bangladesh
By Md. Shohel Rana, Tanvir Hasan Anik & Md. Nurul Kabir Biplob
Begum Rokeya University
Global Journal of Management and Business Research: C
Finance
Volume 19 Issue 6 Version 1.0 Year 2019
Type: Double Blind Peer Reviewed International Research Journal
Publisher: Global Journals
Online ISSN: 2249-4588 & Print ISSN: 0975-5853
Despite the government's optimism of achieving a growth of about 7% in the Gross Domestic Product
(GDP) this fiscal, chances are it could be below that, at about 6.5% only. But that is one part. The bigger
issue is managing growth in the next financial year. Says Jagannadham Thunuguntla, equity head at
the New Delhi-based merchant banking company SMC Capitals Ltd, "We are in the last quarter of
this financial year. There is hardly any room left to manoeuvre at this stage. In my opinion, the bigger
challenge would be managing growth in the next fiscal."
Macroeconomic Variables and Financial Sector Output in Nigeriaijtsrd
The study investigated the effect of selected macroeconomic variables on the financial sector of Nigeria from 1986 to 2018. The study employed monetary target variables, namely money supply, interest rate, inflation rate, exchange rate and credit to private sector as proxies for macroeconomic variables while the outputs from financial sector on as dependent variable. The data obtained from the Central Bank of Nigeria Statistical Bulletin, were tested subjected to Augmented Dickey Fuller ADF test of stationarity, descriptive statistics, and Autoregressive Distributive Lag ARDL . The results revealed that macroeconomic variables has 99 significant short run effect but no significant long run effects on financial sector output in Nigeria. Specific findings revealed that money Supply M2 and Exchange Rate EXR have significant positive relationships with growth of the financial sector at current and third lags, respectively but inflation rate has a significant negative effect on financial sector output in the current period, while Interest rate INT and Credit to Private Sector had no significant effect on financial sector output within the short run periods in Nigeria. It thus recommended that the government employ inflation stabilisation policies and encourage export, and close borders to import on financial services into Nigeria. Dr. Loretta Anayoozuah | Prof. Steve N. Ibenta | Dr. Ikenna Egungwu "Macroeconomic Variables and Financial Sector Output in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd37966.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/37966/macroeconomic-variables-and-financial-sector-output-in-nigeria/dr-loretta-anayoozuah
Financial development is one of the issues in recent decades in order to achieve economic growth and development, as improve performance, especially in terms of oversight has led the government to curb corruption and to set rules and regulations. In most developing countries, the public sector plays an important role in the market. The aim of this study is to compare the situation between Iran and Norway during the period 1970 -2014 in the financial markets and the public. The results of the comparative two oil economies suggest that variables, including oil revenues share of GDP in the economy and how to deal with this income, has been affected the state and public of sector financial indicators examined in the two countries. Norway's economy has failed to manage this income, to help improve their financial situation. Aldo comparing the financial status of the situation, Iran has been more stable during the period under review. Besides, the financial indicators in Norway are more dynamic than Iran.
Colombia Banking System Update 2014 - 3rd quarterFerhat Guven
Credit growth in Colombia continues to be impressive, while mortgages are expanding at a faster pace than the national average for total loans. Banking penetration is in the middle of the range of Latin American countries. Net interest margins remain high for the system as a whole. Mortgage rates should converge closer to developed market levels over time.
"Highlights":
Healthy growth, but caution warranted
Inflation growth decelerating
Recovery of imports increased current account deficit
"In Focus":
What will the second Payment Directive bring about?, author: Edīte Gailiša
Using The ECM Approach between Growth of the Current Account Balance and Fore...AJHSSR Journal
ABSTRACT: The aim of this research to analyze relationship equilibrium to the long-term and short-term
between the current account balance and foreign exchange reserve. As datum from the world bankstarts from
1982 until 2018, the used methodology Error Correction Model (ECM). The result of the estimate and analysis
were the current account balance and foreign exchange reserve stationary at level with the ADF test. The
variables had relationship equilibrium for the long-term and had one-way causality. That was the foreign
exchange reserve that causesthe current account balance. For the long-term, the current account balance had
positively and not significantly to change the development of the foreign exchange reserves. From the shortterm disequilibrium relationship to the equilibrium relationship, the current account balance had negatively and
not significantly too to change the development of the foreign exchange reserves.The value of the current
account balance of Indonesia has a deficit in some periods. Itwould have a bad impact on domestic foreign
exchange reserves. To the Government, the Ministry of Trade to keep the export performance to the stability of
the current account balance surplus to increase the Indonesian economic growth.
KEYWORDS : Foreign Exchange Reserve, Current Account Balance, EC
This paper investigates the macroeconomic drivers of house
prices in Malaysia using VECM, over a fifteen year period.
The key macroeconomic factors investigated were real
GDP, bank lending rate, Consumer Sentiment, Business
Condition, Money Supply, number of loans approved, Stock
market (KLSE) and Inflation. The macroeconomic factors
found to be significantly related to the Malaysian housing
prices were inflation, Stock Market (KLSE), Money Supply
(M3) and number of residential loans approved. The results
hint at the potential of a housing price bubble as GDP
wasn’t identified as a driver of house prices.
Factors Influencing Exchange Rate: An Empirical Evidence from BangladeshMd. Shohel Rana
Factors Influencing Exchange Rate: An Empirical Evidence
from Bangladesh
By Md. Shohel Rana, Tanvir Hasan Anik & Md. Nurul Kabir Biplob
Begum Rokeya University
Global Journal of Management and Business Research: C
Finance
Volume 19 Issue 6 Version 1.0 Year 2019
Type: Double Blind Peer Reviewed International Research Journal
Publisher: Global Journals
Online ISSN: 2249-4588 & Print ISSN: 0975-5853
Despite the government's optimism of achieving a growth of about 7% in the Gross Domestic Product
(GDP) this fiscal, chances are it could be below that, at about 6.5% only. But that is one part. The bigger
issue is managing growth in the next financial year. Says Jagannadham Thunuguntla, equity head at
the New Delhi-based merchant banking company SMC Capitals Ltd, "We are in the last quarter of
this financial year. There is hardly any room left to manoeuvre at this stage. In my opinion, the bigger
challenge would be managing growth in the next fiscal."
Prawnicy kancelarii prawnej Wierzbowski Eversheds Sutherland przygotowali broszurę zawierającą przegląd zmian w prawie, które będą mieć istotny wpływ na działalność biznesową w 2017 roku.
Autorzy skupiają się w niej na obowiązkach związanych z nowymi przepisami, które w wielu przypadkach dotyczą większości przedsiębiorców. Piszą również o trendach rynkowych oraz kwestiach istotnych dla wybranych sektorów. Analizują zagadnienia, które mogą okazać się szczególnym wyzwaniem.
Zapraszamy też na eversheds-sutherland.pl
Ekonomi "Probleme te konkurrences ne tregun tone."Maja
Probleme te konkurrences ne tregun tone.
*Te tregoje rendesine e konkurrences per fusha te ndryshme te prodhimit.
*Te tregoje ne menyre konkrete si ndikon konkurrenca tek konsumatoret duke marre nje fushe te caktuar prodhimi.
*Te tregoje raste te monopolit apo oligopolit ne tregun shqiptar.
*Te krahasoje perparesite dhe kufizimet e konkurrences dhe monopolit ne treg.
Financial instruments statistics important for central banks, and especially for the National Bank of Poland because if the statistical system imposes a responsibility on the central bank it must meet all the requirements of statistical excellence. This is a very important argument, but only a formal one for our interest in this subject. There is a second stream of motives for addressing this problem in central banks. Experience gained over the last decade shows clearly that financial instruments, especially those issued by enterprises, are becoming increasingly important for monetary transmission mechanisms and for financial stability. Among other things, there is empirical evidence that corporate bond spreads lead real economic activity. The situation in the financial instruments market is also meaningful for the general condition of the credit market, as bonds are close substitutes for banking credit. Development of the financial instruments market also contributes to the so-called financial market deepening effect, with multiple consequences for transmission mechanisms.7 It should be noted that, owing to the wide variety of channels through which financial instruments can interfere with monetary policy operations, the central banks are interested in collecting detailed information on these instruments. In practice it results in a complexity of standards for financial instruments security statistics that central banks are expected to meet.
AN INSIDE LOOK AT POLICY Increased Lending Boosts Money Supply Gro.docxgalerussel59292
AN INSIDE LOOK AT POLICY Increased Lending Boosts Money Supply Growth
FISCAL TIMES
Bank Lending Signals a Strengthening Economy
The financial crisis of 2008 rocked the foundation of the U.S. banking sector. The shock left banks short of capital and hesitant to lend, even as the recession cut deeply into loan demand. The Federal Reserve has pumped in an ocean of lendable funds, trying to prime the process of bringing banks and borrowers together. But many still wonder when, if ever, bank lending will return to normal.
We’re not there yet, but recent signs have been encouraging. Despite the sluggish economy, loan growth is finally beginning to pick up in key areas, reflecting both greater willingness to lend and increased desire to borrow. Loan volume of U.S. commercial banks rose at a one percent annual rate in June as expansion in business loans and non-mortgage consumer lending more than offset the ongoing contraction in real estate financing. It was the third consecutive monthly increase after steady declines for more than two years....
a Lending to businesses is leading the credit upswing. The volume of commercial and industrial (C&I) loans in the second quarter rose at a 9.6 percent annual rate, the largest increase in 2½ years. Banks have progressively eased lending standards for C&I loans to large and medium-sized companies for the past six quarters. Small companies have seen easier terms and conditions in each of the past four quarters. Economists expect to see signs that this loosening in standards is continuing when the Fed issues it third-quarter report from bank senior loan officers in mid-August.
More credit is starting to flow to small businesses, as well. That’s important, because small firms account for about half of U.S. job creation, and depend greatly on banks for credit, unlike large corporations that have the option to raise funds in the capital markets by issuing bonds. In the second quarter, the balance of banks reporting stronger vs. weaker demand for commercial and industrial (C&I) loans by small businesses was positive for the first time in five years, according to the latest Fed survey. Another positive sign is the gradual rise in C&I loans made by small banks, whose customers tend to be small local companies. Small-bank C&I loan volume has been rising gradually in 2011 after hitting bottom late last year.
Despite increased attention by policymakers over the past year to the dearth of small business lending, the problem has been not so much banks’ unwillingness to lend but simply a lack of loan demand, reflecting weak sales. Although the percentage of small companies saying credit is harder to get is still somewhat higher than before the recession, it has fallen steadily over the past two years, from a peak of 16 percent, to 9 percent in June, according to the National Federation of Independent Business.
b Banks are also warming to consumer loans. Despite sluggish job markets, households have made great progress in g.
A growing number of indicators suggest that the U.S. economy is heading for ‘stagflation’, i.e. a period of economic stagnation coupled with inflation. Personal consumption expenditures, which comprise almost three-quarters of gross domestic product (GDP), are expected to recede, as implied by sharply declining indexes based on consumer spending plans.
The current economic slowdown can only partially be attributed to longterm cyclical corrections. Without doubt, the proliferation of economic pessimism stems mainly from the severe liquidity and market risk crises in the financial system.
Authored by: Lucian Orlowski
Published in 2008
Selected Macroeconomic Factors versus Bond Market Development in Nigeriainventionjournals
This paper examines the macroeconomic determinants of bond market development in Nigeria to address the persistent research question of whether bond market development is driven by macroeconomic factors or institutional factors in emerging markets. Time series data generated over the period of 32 years was analyzed using ordinary least square regression techniques involving multiple regressions. The aggregate bond market capitalization comprising both government bonds and corporate bonds were exploited. The major findings of the study reveals that exchange rate, interest rate, inflation rate and banking sector development have negative and significant influence on the Nigerian bond market capitalization and as such, they demonstrated strong evidence as robust macroeconomic determinants of bond market development in Nigeria. Bond market, development, determinants, economy, Nigeria
DOES PUBLIC BORROWINGS CROWD OUT PRIVATE SECTOR CREDIT? EVIDENCE FROM NIGERIAAJHSSR Journal
ABSTRACT: The performance of the private sector in Nigeria has been declining,due to constrained financial
resources. Thisstudyemployed Autoregressive Distributed Lag Model (bounds) test to investigate the impact of
government borrowing on the availability of credit to the private sector in Nigeria, using quarterly data from the
period2000 to 2021.The findings from the study revealed that government borrowings crowds out private sector
credit in Nigeria.Therefore,the study recommended that, since the private sector is regarded as the engine of
growth in any economy, the government should uphold a fiscal policy framework and debt policy that will
continuously support the growth of the private sector in Nigeria. Government borrowings should be on need-basis
andshould embark on more capital projects that would create employment opportunities for the growing labour
force. This, in the short and long run would lead to increased economic growth.
KEYWORDS: Government, private sector, borrowings, fiscal deficit, expenditure, revenue,credit,economy, and
growth.
Deloitte global powers of consumer products 2014vishalsingh660
To start a new section, hold down the apple+shift keys and click
to release this object and type the section title in the box below.
Global Powers of Consumer Products 2014
Deloitte Touche Tohmatsu Limited (DTTL) is
pleased to present the 7th annual
Global Powers of
Consumer Products
. This report identifies the 250 largest
consumer products companies around the world based
on publicly available data for the fiscal year 2012
(encompassing companies’ fiscal years ended through
June 2013).
The report also provides an outlook for the global
economy, an analysis of market capitalization in the
industry, a look at M&A activity in the consumer
products sector, and a discussion of major trends
affecting consumer products companies.
Text Mining in Digital Libraries using OKAPI BM25 ModelEditor IJCATR
The emergence of the internet has made vast amounts of information available and easily accessible online. As a result, most libraries have digitized their content in order to remain relevant to their users and to keep pace with the advancement of the internet. However, these digital libraries have been criticized for using inefficient information retrieval models that do not perform relevance ranking to the retrieved results. This paper proposed the use of OKAPI BM25 model in text mining so as means of improving relevance ranking of digital libraries. Okapi BM25 model was selected because it is a probability-based relevance ranking algorithm. A case study research was conducted and the model design was based on information retrieval processes. The performance of Boolean, vector space, and Okapi BM25 models was compared for data retrieval. Relevant ranked documents were retrieved and displayed at the OPAC framework search page. The results revealed that Okapi BM 25 outperformed Boolean model and Vector Space model. Therefore, this paper proposes the use of Okapi BM25 model to reward terms according to their relative frequencies in a document so as to improve the performance of text mining in digital libraries.
Green Computing, eco trends, climate change, e-waste and eco-friendlyEditor IJCATR
This study focused on the practice of using computing resources more efficiently while maintaining or increasing overall performance. Sustainable IT services require the integration of green computing practices such as power management, virtualization, improving cooling technology, recycling, electronic waste disposal, and optimization of the IT infrastructure to meet sustainability requirements. Studies have shown that costs of power utilized by IT departments can approach 50% of the overall energy costs for an organization. While there is an expectation that green IT should lower costs and the firm’s impact on the environment, there has been far less attention directed at understanding the strategic benefits of sustainable IT services in terms of the creation of customer value, business value and societal value. This paper provides a review of the literature on sustainable IT, key areas of focus, and identifies a core set of principles to guide sustainable IT service design.
Policies for Green Computing and E-Waste in NigeriaEditor IJCATR
Computers today are an integral part of individuals’ lives all around the world, but unfortunately these devices are toxic to the environment given the materials used, their limited battery life and technological obsolescence. Individuals are concerned about the hazardous materials ever present in computers, even if the importance of various attributes differs, and that a more environment -friendly attitude can be obtained through exposure to educational materials. In this paper, we aim to delineate the problem of e-waste in Nigeria and highlight a series of measures and the advantage they herald for our country and propose a series of action steps to develop in these areas further. It is possible for Nigeria to have an immediate economic stimulus and job creation while moving quickly to abide by the requirements of climate change legislation and energy efficiency directives. The costs of implementing energy efficiency and renewable energy measures are minimal as they are not cash expenditures but rather investments paid back by future, continuous energy savings.
Performance Evaluation of VANETs for Evaluating Node Stability in Dynamic Sce...Editor IJCATR
Vehicular ad hoc networks (VANETs) are a favorable area of exploration which empowers the interconnection amid the movable vehicles and between transportable units (vehicles) and road side units (RSU). In Vehicular Ad Hoc Networks (VANETs), mobile vehicles can be organized into assemblage to promote interconnection links. The assemblage arrangement according to dimensions and geographical extend has serious influence on attribute of interaction .Vehicular ad hoc networks (VANETs) are subclass of mobile Ad-hoc network involving more complex mobility patterns. Because of mobility the topology changes very frequently. This raises a number of technical challenges including the stability of the network .There is a need for assemblage configuration leading to more stable realistic network. The paper provides investigation of various simulation scenarios in which cluster using k-means algorithm are generated and their numbers are varied to find the more stable configuration in real scenario of road.
Optimum Location of DG Units Considering Operation ConditionsEditor IJCATR
The optimal sizing and placement of Distributed Generation units (DG) are becoming very attractive to researchers these days. In this paper a two stage approach has been used for allocation and sizing of DGs in distribution system with time varying load model. The strategic placement of DGs can help in reducing energy losses and improving voltage profile. The proposed work discusses time varying loads that can be useful for selecting the location and optimizing DG operation. The method has the potential to be used for integrating the available DGs by identifying the best locations in a power system. The proposed method has been demonstrated on 9-bus test system.
Analysis of Comparison of Fuzzy Knn, C4.5 Algorithm, and Naïve Bayes Classifi...Editor IJCATR
Early detection of diabetes mellitus (DM) can prevent or inhibit complication. There are several laboratory test that must be done to detect DM. The result of this laboratory test then converted into data training. Data training used in this study generated from UCI Pima Database with 6 attributes that were used to classify positive or negative diabetes. There are various classification methods that are commonly used, and in this study three of them were compared, which were fuzzy KNN, C4.5 algorithm and Naïve Bayes Classifier (NBC) with one identical case. The objective of this study was to create software to classify DM using tested methods and compared the three methods based on accuracy, precision, and recall. The results showed that the best method was Fuzzy KNN with average and maximum accuracy reached 96% and 98%, respectively. In second place, NBC method had respective average and maximum accuracy of 87.5% and 90%. Lastly, C4.5 algorithm had average and maximum accuracy of 79.5% and 86%, respectively.
Web Scraping for Estimating new Record from Source SiteEditor IJCATR
Study in the Competitive field of Intelligent, and studies in the field of Web Scraping, have a symbiotic relationship mutualism. In the information age today, the website serves as a main source. The research focus is on how to get data from websites and how to slow down the intensity of the download. The problem that arises is the website sources are autonomous so that vulnerable changes the structure of the content at any time. The next problem is the system intrusion detection snort installed on the server to detect bot crawler. So the researchers propose the use of the methods of Mining Data Records and the method of Exponential Smoothing so that adaptive to changes in the structure of the content and do a browse or fetch automatically follow the pattern of the occurrences of the news. The results of the tests, with the threshold 0.3 for MDR and similarity threshold score 0.65 for STM, using recall and precision values produce f-measure average 92.6%. While the results of the tests of the exponential estimation smoothing using ? = 0.5 produces MAE 18.2 datarecord duplicate. It slowed down to 3.6 datarecord from 21.8 datarecord results schedule download/fetch fix in an average time of occurrence news.
Evaluating Semantic Similarity between Biomedical Concepts/Classes through S...Editor IJCATR
Most of the existing semantic similarity measures that use ontology structure as their primary source can measure semantic similarity between concepts/classes using single ontology. The ontology-based semantic similarity techniques such as structure-based semantic similarity techniques (Path Length Measure, Wu and Palmer’s Measure, and Leacock and Chodorow’s measure), information content-based similarity techniques (Resnik’s measure, Lin’s measure), and biomedical domain ontology techniques (Al-Mubaid and Nguyen’s measure (SimDist)) were evaluated relative to human experts’ ratings, and compared on sets of concepts using the ICD-10 “V1.0” terminology within the UMLS. The experimental results validate the efficiency of the SemDist technique in single ontology, and demonstrate that SemDist semantic similarity techniques, compared with the existing techniques, gives the best overall results of correlation with experts’ ratings.
Semantic Similarity Measures between Terms in the Biomedical Domain within f...Editor IJCATR
The techniques and tests are tools used to define how measure the goodness of ontology or its resources. The similarity between biomedical classes/concepts is an important task for the biomedical information extraction and knowledge discovery. However, most of the semantic similarity techniques can be adopted to be used in the biomedical domain (UMLS). Many experiments have been conducted to check the applicability of these measures. In this paper, we investigate to measure semantic similarity between two terms within single ontology or multiple ontologies in ICD-10 “V1.0” as primary source, and compare my results to human experts score by correlation coefficient.
A Strategy for Improving the Performance of Small Files in Openstack Swift Editor IJCATR
This is an effective way to improve the storage access performance of small files in Openstack Swift by adding an aggregate storage module. Because Swift will lead to too much disk operation when querying metadata, the transfer performance of plenty of small files is low. In this paper, we propose an aggregated storage strategy (ASS), and implement it in Swift. ASS comprises two parts which include merge storage and index storage. At the first stage, ASS arranges the write request queue in chronological order, and then stores objects in volumes. These volumes are large files that are stored in Swift actually. During the short encounter time, the object-to-volume mapping information is stored in Key-Value store at the second stage. The experimental results show that the ASS can effectively improve Swift's small file transfer performance.
Integrated System for Vehicle Clearance and RegistrationEditor IJCATR
Efficient management and control of government's cash resources rely on government banking arrangements. Nigeria, like many low income countries, employed fragmented systems in handling government receipts and payments. Later in 2016, Nigeria implemented a unified structure as recommended by the IMF, where all government funds are collected in one account would reduce borrowing costs, extend credit and improve government's fiscal policy among other benefits to government. This situation motivated us to embark on this research to design and implement an integrated system for vehicle clearance and registration. This system complies with the new Treasury Single Account policy to enable proper interaction and collaboration among five different level agencies (NCS, FRSC, SBIR, VIO and NPF) saddled with vehicular administration and activities in Nigeria. Since the system is web based, Object Oriented Hypermedia Design Methodology (OOHDM) is used. Tools such as Php, JavaScript, css, html, AJAX and other web development technologies were used. The result is a web based system that gives proper information about a vehicle starting from the exact date of importation to registration and renewal of licensing. Vehicle owner information, custom duty information, plate number registration details, etc. will also be efficiently retrieved from the system by any of the agencies without contacting the other agency at any point in time. Also number plate will no longer be the only means of vehicle identification as it is presently the case in Nigeria, because the unified system will automatically generate and assigned a Unique Vehicle Identification Pin Number (UVIPN) on payment of duty in the system to the vehicle and the UVIPN will be linked to the various agencies in the management information system.
Assessment of the Efficiency of Customer Order Management System: A Case Stu...Editor IJCATR
The Supermarket Management System deals with the automation of buying and selling of good and services. It includes both sales and purchase of items. The project Supermarket Management System is to be developed with the objective of making the system reliable, easier, fast, and more informative.
Energy-Aware Routing in Wireless Sensor Network Using Modified Bi-Directional A*Editor IJCATR
Energy is a key component in the Wireless Sensor Network (WSN)[1]. The system will not be able to run according to its function without the availability of adequate power units. One of the characteristics of wireless sensor network is Limitation energy[2]. A lot of research has been done to develop strategies to overcome this problem. One of them is clustering technique. The popular clustering technique is Low Energy Adaptive Clustering Hierarchy (LEACH)[3]. In LEACH, clustering techniques are used to determine Cluster Head (CH), which will then be assigned to forward packets to Base Station (BS). In this research, we propose other clustering techniques, which utilize the Social Network Analysis approach theory of Betweeness Centrality (BC) which will then be implemented in the Setup phase. While in the Steady-State phase, one of the heuristic searching algorithms, Modified Bi-Directional A* (MBDA *) is implemented. The experiment was performed deploy 100 nodes statically in the 100x100 area, with one Base Station at coordinates (50,50). To find out the reliability of the system, the experiment to do in 5000 rounds. The performance of the designed routing protocol strategy will be tested based on network lifetime, throughput, and residual energy. The results show that BC-MBDA * is better than LEACH. This is influenced by the ways of working LEACH in determining the CH that is dynamic, which is always changing in every data transmission process. This will result in the use of energy, because they always doing any computation to determine CH in every transmission process. In contrast to BC-MBDA *, CH is statically determined, so it can decrease energy usage.
Security in Software Defined Networks (SDN): Challenges and Research Opportun...Editor IJCATR
In networks, the rapidly changing traffic patterns of search engines, Internet of Things (IoT) devices, Big Data and data centers has thrown up new challenges for legacy; existing networks; and prompted the need for a more intelligent and innovative way to dynamically manage traffic and allocate limited network resources. Software Defined Network (SDN) which decouples the control plane from the data plane through network vitalizations aims to address these challenges. This paper has explored the SDN architecture and its implementation with the OpenFlow protocol. It has also assessed some of its benefits over traditional network architectures, security concerns and how it can be addressed in future research and related works in emerging economies such as Nigeria.
Measure the Similarity of Complaint Document Using Cosine Similarity Based on...Editor IJCATR
Report handling on "LAPOR!" (Laporan, Aspirasi dan Pengaduan Online Rakyat) system depending on the system administrator who manually reads every incoming report [3]. Read manually can lead to errors in handling complaints [4] if the data flow is huge and grows rapidly, it needs at least three days to prepare a confirmation and it sensitive to inconsistencies [3]. In this study, the authors propose a model that can measure the identities of the Query (Incoming) with Document (Archive). The authors employed Class-Based Indexing term weighting scheme, and Cosine Similarities to analyse document similarities. CoSimTFIDF, CoSimTFICF and CoSimTFIDFICF values used in classification as feature for K-Nearest Neighbour (K-NN) classifier. The optimum result evaluation is pre-processing employ 75% of training data ratio and 25% of test data with CoSimTFIDF feature. It deliver a high accuracy 84%. The k = 5 value obtain high accuracy 84.12%
Hangul Recognition Using Support Vector MachineEditor IJCATR
The recognition of Hangul Image is more difficult compared with that of Latin. It could be recognized from the structural arrangement. Hangul is arranged from two dimensions while Latin is only from the left to the right. The current research creates a system to convert Hangul image into Latin text in order to use it as a learning material on reading Hangul. In general, image recognition system is divided into three steps. The first step is preprocessing, which includes binarization, segmentation through connected component-labeling method, and thinning with Zhang Suen to decrease some pattern information. The second is receiving the feature from every single image, whose identification process is done through chain code method. The third is recognizing the process using Support Vector Machine (SVM) with some kernels. It works through letter image and Hangul word recognition. It consists of 34 letters, each of which has 15 different patterns. The whole patterns are 510, divided into 3 data scenarios. The highest result achieved is 94,7% using SVM kernel polynomial and radial basis function. The level of recognition result is influenced by many trained data. Whilst the recognition process of Hangul word applies to the type 2 Hangul word with 6 different patterns. The difference of these patterns appears from the change of the font type. The chosen fonts for data training are such as Batang, Dotum, Gaeul, Gulim, Malgun Gothic. Arial Unicode MS is used to test the data. The lowest accuracy is achieved through the use of SVM kernel radial basis function, which is 69%. The same result, 72 %, is given by the SVM kernel linear and polynomial.
Application of 3D Printing in EducationEditor IJCATR
This paper provides a review of literature concerning the application of 3D printing in the education system. The review identifies that 3D Printing is being applied across the Educational levels [1] as well as in Libraries, Laboratories, and Distance education systems. The review also finds that 3D Printing is being used to teach both students and trainers about 3D Printing and to develop 3D Printing skills.
Survey on Energy-Efficient Routing Algorithms for Underwater Wireless Sensor ...Editor IJCATR
In underwater environment, for retrieval of information the routing mechanism is used. In routing mechanism there are three to four types of nodes are used, one is sink node which is deployed on the water surface and can collect the information, courier/super/AUV or dolphin powerful nodes are deployed in the middle of the water for forwarding the packets, ordinary nodes are also forwarder nodes which can be deployed from bottom to surface of the water and source nodes are deployed at the seabed which can extract the valuable information from the bottom of the sea. In underwater environment the battery power of the nodes is limited and that power can be enhanced through better selection of the routing algorithm. This paper focuses the energy-efficient routing algorithms for their routing mechanisms to prolong the battery power of the nodes. This paper also focuses the performance analysis of the energy-efficient algorithms under which we can examine the better performance of the route selection mechanism which can prolong the battery power of the node
Comparative analysis on Void Node Removal Routing algorithms for Underwater W...Editor IJCATR
The designing of routing algorithms faces many challenges in underwater environment like: propagation delay, acoustic channel behaviour, limited bandwidth, high bit error rate, limited battery power, underwater pressure, node mobility, localization 3D deployment, and underwater obstacles (voids). This paper focuses the underwater voids which affects the overall performance of the entire network. The majority of the researchers have used the better approaches for removal of voids through alternate path selection mechanism but still research needs improvement. This paper also focuses the architecture and its operation through merits and demerits of the existing algorithms. This research article further focuses the analytical method of the performance analysis of existing algorithms through which we found the better approach for removal of voids
Decay Property for Solutions to Plate Type Equations with Variable CoefficientsEditor IJCATR
In this paper we consider the initial value problem for a plate type equation with variable coefficients and memory in
1 n R n ), which is of regularity-loss property. By using spectrally resolution, we study the pointwise estimates in the spectral
space of the fundamental solution to the corresponding linear problem. Appealing to this pointwise estimates, we obtain the global
existence and the decay estimates of solutions to the semilinear problem by employing the fixed point theorem
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered Quality
How is Mortgage Lending Influencing the Economic Growth in Albania
1. International Journal of Science and Engineering Applications
Volume 3 Issue 4, 2014, ISSN-2319-7560 (Online)
www.ijcat.com 83
How is Mortgage Lending Influencing the Economic
Growth in Albania
Iris Shahini
Alpha Bank
Tirane, Albania
Abstract— Banks in Albania have been playing an important role in providing credit to the households especially to the
housing sector and thereby contributing to the aggregate demand in the sector. Moreover, Albanian banks also extend
various types of loans against the individuals and corporate before the financial crisis. After the crisis the banks become
more restricted due to increase of non-performing loans as well as the macroeconomic volatility which is higher in
emerging economies like Albania. In my study I will focus on the influence of mortgage loans and nonperforming loans
in the country economic growth during the interval 2008-2013 that corresponds with the after crisis period.
Keywords — economic growth, housing loans, housing market, nonperforming loans, GDP
1. INTRODUCTION
Banking system stability is important for the development of a
country. The bank's role can be said to be a catalyst for
economic growth. The activity and performance of the
banking industry is an indicator of financial stability. The rate
at which banks finance public productive activities accelerates
economic growth and ensures long-term sustainability. First
of all, mortgage loans represent the main part of retail loans.
Secondly, the default in payments of mortgage loans do not
impact only the owners of the properties but also banks that
use these properties as collaterals. Moreover, through the
second market products as MBS, risk is spread all over the
economy. During the last years the impact of financial crisis
shrink the willingness of banks to lend and made them more
conservative in terms of credit standards. Up to the year 2008,
banks especially the Greek once, were much more aggressive
in lending of housing loans mainly in foreign currency. The
financial crisis lead to the deprecation of Albanian currency
towards EUR and Albanian banks started to orient the
customers to have the loan in the same currency as their
incomes in order to avoid the exchange rate risk. On 2009 the
loan in euro composed 72% of the total loan portfolio. As per
constructors, there are the banks that supply the economy with
money and the decrease in selling of properties is a
consequence of loan supply from banks side considering that
the individuals that buy an apartment in cash are very few in
number. The aim of this study centered on how the mortgage
loans and nonperforming loans influence the economic
growth in Albania. The period under consideration is the one
corresponding with the financial crisis 2008-2013.
2. LITERATURE REVIEW
As personal income rises or the burden of debt declines, the
demand for mortgage funds should increase. In the models on
credit demand, real GDP, prices and interest rates are
commonly the explanatory variables, although there is no
―standard‖ model which would be widely used. However,
modeling and estimation techniques in this area are
complicated due to difficulties with separating demand side
effects from supply side effects (see e.g. Rajan 1994).
Empirically, the relationship between credit and current
economic activity is well founded in Hofmann (2001)
documents in 16 industrialized countries. The annual rate of
change in real credit is closely related to that of real GDP.
Erjona Suljoti and Gent Hashorva (2011) studied the impact
of mortgage loans in the residential prices, GDP per capita
and interest rate in the demand for mortgage loans. The
correlation between the independed variables and the
depended one was very strong for the period 1998-2010. GDP
per capita and residential prices are positively correlated with
the demand of housing loans from individuals and interest rate
is negatively correlated. Festic, Kavkler, Repina (2011)
confirmed that changes in macroeconomic conditions are
translated into changes in the quality of bank loan portfolios.
2.1 Mortgage market and mortgage lending in
Albania
The dwelling market as well as the housing loan market in
Albania has experienced many changes. The developments in
these two markets can be divided in two time periods. During
the first period 2000-2007 a very fast development of
dwelling market and mortgage loans market has occurred.
Meanwhile during the period 2008-2012 the increase in both
markets has slowed down due to the global financial crisis and
the slow-down of economic activity in Albania( see table 1
and 2).
Table 1. Economic growth in Albania (annual %)
2007 2008 2009 2010 2011 2012 2013
5.9 7.5 3.3 3.8 3.1 1.62 0.4
Source: INSTAT
Table 2: GDP/Capita in PPS
2007 2008 2009 2010 2011 2012 2013
23 26 28 27 30 30 30
Source: Eurostat
2. International Journal of Science and Engineering Applications
Volume 3 Issue 4, 2014, ISSN-2319-7560 (Online)
www.ijcat.com 84
Even though it was not expected to be so fast, the crisis in the
real estate market had started based on the official data of
Bank of Albania and real estate agencies which were not
satisfied with the transactions of last period in the real estate
market in 2008. Based on the statistic that these agencies
published in the ―Albania‖ newspaper it was obvious that the
demand for house purchase from emigrants has been
considerably decreased. Such evidence has been confirmed
also from the Bank of Albania. The decrease for housing
purchase from individuals has started since 2008 due to the
difficult financial situation and low remittances from
emigrants. Another factor influencing in the tendency of
individuals to purchase a house is the loan financing. In 2008
banks started to be more restricted in lending mainly due to
the increase of non- performing loans. The difficulty in having
a loan will influence the market considering that the
construction sector and industry absorb 77% of the total loan
portfolio which is used to finance the investments in real
estate. While the increase in house price was justified with the
increase of construction materials as per BOA report. The
macroeconomic environment, business difficulties as well as
the restrictive decisions of BOA towards the second level
banks have influenced in the decrease of loan supply. In
Albania the individuals buy a house for living purpose rather
than investment one so the decrease demand is much lower
than in Europe or USA. Almost 70% of purchases are done
through bank financing and only 30% are done in cash.
2.2 The trend of housing loans in Albania
During the period 2004-2007 the mortgage loans portfolio has
experienced a high increase with an average annual increase
of 65%. Such a positive trend has been sustained from the
banking system development and economic growth of the
period. It was created a stratum with average income having
the possibility to meet the monthly obligations towards banks.
On the same time the privatization of ex Saving Bank
occurred, the biggest bank in Albania, named Raiffeissen
Bank which gave liquidity to the market and stimulated banks
to announce a new product, the ―mortgage Loan‖. On the
supply side of mortgage loans, banks used to gain market
share by offering very convenience products. Many banks
used the mortgage loan to diversify their loan portfolio in
terms of quality and cost of funds. The willingness of banks to
develop this market segment went along with the increase of
individuals demand to be financed. Such an increase was due
to the increase of housing prices during the years 2004-2007
which was not affordable to be paid in cash from the buyers.
During this period the housing price were about 50% higher
than in 2004. The mortgage loan portfolio for individuals
composes almost 20% of the banking system loans portfolio.
The product for housing financing may have a fix interest rate
or a floating one. The interest rates also differ as per product
currency. In general, most of the loans financing are in euro
with floating interest rates. In any case some hybrid products
have resulted to be successful in the market by having a fix
interest rate for the first 2-5 years and floating for the
remaining period. Banks in Albania finance up to 80% of the
collateral market value and the tenor vary from 5 to 30 years.
The demand for housing loans on 2007 and beginning of 2008
was higher than the demand of individuals for consumer
loans. Despite the necessity of individuals to be financed for
house purchase other factors that have positively contributed
in the demand for housing loans were: the developments in
real estate market, consumer’s confidence and credit policies
applied from banks. Credit policies standards have been
somehow tighten on the fourth quarter of 2009 through
increasing the spread for the high risk loans, following the
same trend as European banks. The demand in the same time
decreased although the new buildings constructed were 1,021
in total. New disbursements during the year 2009 suffered a
considerable decrease from 35,948 million ALL in 2008 to
15,146 million ALL. Although 2010 the credit policy
standards in general were tightened, for housing loans they
became more soothing compared with the year 2009. Two
main factors that make banks to be conservative in lending are
the non performing loans and low income of individuals
2.3 Nonperforming loans in the banking system
The increase of nonperforming loans in the banking system
has been an important factor in the restriction of loan
procedures for individuals and even for businesses.
Credit risk dominates the risk profile regardless the careful
credit process of banks. The credit risk originating from the
loan portfolio of banks remains the main risk with a direct
effect on the financial stability of the banking sector.
Regardless the contraction in crediting and the recent
tendencies of the banks to deploy a great amount of their
funds in safe actives, the credit risk remains dominant in the
risks profile of the banking sector even during the second half
of year 2013. During the second half of year 2012,
nonperforming loans in the banking sector increased in 130
billion ALL, from 121 billion ALL in the first half and 160
billion ALL in the second half of 2011. Nevertheless, the
pace of growth of nonperforming loans has slowed down
from quarter to quarter. There was a slight improvement in
the loans stock in the last quarter of the year with 0.95%. The
deceleration of nonperforming loans reflects the increase of
the bank’s efforts to collect money. At the end of 2012, the
ratio of nonperforming loans to the total loans increased from
21.1% to 22.5% in the first half of 2012 and from 18.8% in
the same period of the previous year. The highest amount of
nonperforming loans was on the second quarter of 2013 with
a rate of 24.34% in the third quarter and 23.22% in the last
quarter of 2013.
Figure 1: The trend of NPL and GDP ( in %)
3. International Journal of Science and Engineering Applications
Volume 3 Issue 4, 2014, ISSN-2319-7560 (Online)
www.ijcat.com 85
3. METHODOLOGY AND DATA
The purpose of this paper is to describe the relation between
the mortgage loans and nonperforming loans as a dependent
variable and the economic growth as in depended variable.
The period taken in consideration is 2008 up to 2013
corresponding with the beginning of the financial crisis. The
data have been taken from different sources as Bank of
Albania , Ministry of Finance, Albanian Association of banks
etc. The time series of these data are on quarterly basis.
Figure 2: Mortgage loans in million ALL
The Assessed Model
YNS= c + b1 log(YD)+b2 NPLN
Where:
YNS- is the economic growth
YD –new mortgage loans
NPLN-the rate of nonperforming loans
YNS= -0.37+0.05 log( YD)-0.002 NPLN
Table 3: Results of the assessed model (author calculations)
Based on the above calculations we conclude that the
regression coefficients b1 and b2 are statistically important
considering that the probabilities are lower than 0.05.
b1 shows that when mortgage loans increase by 1% the
economic growth increase by 0.0005% by having constant the
NPLN.
b2 shows that when NPLN increase by one unit the economic
growth decrease by 0.002 units by having constant the new
mortgage loans.
The r ² value of 0.57 means approximately 57 percent of the
variation in the YNS is explained by variation in the YD and
NPLN
Hhypothesis testing:
To test the significance of the model we will rise the
hypothesis based in the Fisher index with the level of
significance α=0.05 and (k-1), (n-k) df , it is often called the
critical F value at α/2 level of significance.
If Ff > Fkr then the hypothesis (H0) is rejected, and the assets
model is statistically significant
For our model we postulate that :
H0: The assessed model is not statistically significant
Ha: The assessed model is statistically significant
Performing the calculations with E-Views we reach to the
conclusion that factice value of Fisher (Ff) is 16.63 while the
critic value for F(n-k)(k-1)= 4.3 ( 5% significance)
We concluding that the assessed model is statistically
significant thus the Ho hypothesis is rejected.
Autocorrelation
To test the presence of the autocorrelation we will use the
Durbin Watson test.
In our model the d value 1.88 is around 2, which would
suggest that there is no autocorrelation in such model.
Another test performed is the LM test for the serial
correlation. Based on the below table we can conclude that
there is no presence of the serial correlation in our model
Table 4. Results of the LM test (author calculations)
Heteroscedasticity Test
An important assumption of the classical linear regression
model is that the disturbances term ui appearing in the
population regression function are homoscedastic; that is, they
all have the same variance. Symbolically:
For our model we postulate that
Ho: No presence of heteroscedasticity
Ha: Presence of heteroscedasticity
4. International Journal of Science and Engineering Applications
Volume 3 Issue 4, 2014, ISSN-2319-7560 (Online)
www.ijcat.com 86
Based of the Arch's heteroscedasticity Test below the
estimated model is insignificant and also the coefficients of
the model considering the respective probabilities higher than
0.05. We conclude that in our model the heteroscedasticity is
not present.
Table 5: The results of heteroskedasticity test (author
calculations)
Jarque–Bera (JB) Test of Normality
The JB test of normality is based on the OLS residuals.
where n = sample size, S = skewness coefficient, and K =
kurtosis coefficient. For a normally distributed variable, S = 0
and K = 3. Therefore, the JB test of normality is a test of the
joint hypothesis that S and K are 0 and 3, respectively. In that
case the value of the JB statistic is expected to be 0. If the
computed p value of the JB statistic in an application is
sufficiently low, which will happen if the value of the statistic
is very different from 0, one can reject the hypothesis that the
residuals are normally distributed. But if the p value is
reasonably high, which will happen if the value of the statistic
is close to zero, we do not reject the normality assumption.
Application of the Jarque–Bera test shows that the JB statistic
is about 0.273405, and the probability of obtaining such a
statistic under the normality assumption is about 87 %.
Therefore, we do not reject the hypothesis that the error terms
are normally distributed.
Figure 3: Normality test of residuals series (author
calculations)
4. CONCLUSIONS
The purpose of this study is to analyze how is housing loans
and NPL influencing the economic growth of Albania. The
analyze has taken in consideration two factors the new
mortgage disbursements and NPL rate as the independent
variable and the economic growth as the dependent variable.
To treat the problem empirically it was used the lin-log
regression model. For the period taken into consideration
2008-2013 corresponding with the financial crises, we
reached in the conclusion that the new housing loans has a
strong positive relation with the economic growth and the rate
of NPL has negative relation with the economic growth.
In the last years the demand for housing loans in Albania,
decreased in parallel with the decrease of the supply form
banks side corresponding to the increase in the non
performing loans.
On the other hand the prices suffered a low decrease even
though the stock of unsold properties increases.
The slowdown in loans reflects decrease in the demand side
from individuals.
Credit Standards and Loan demand in Albania followed
almost the same trend as those of Eurozone during this period.
5. ACKNOWLEDGMENTS
This paper is part of my PhD thesis which for I would like to
thanks all my colleagues and my professors who advised and
helped me to progress in my research.
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