Abstract In Greater Sekhukhune District Municipality, traditional religion has played a significant role in transforming Christianity by confronting it with the decisive issue of indigenization. The purpose of this study was, therefore, to examine the inter-religious relations among Christianity and African Traditional Religion (ATR), and to explore how African religious and cultural values have impacted on Christian – ATR relations within the municipality, and how the latter has, also, been affected by the former. The primary research question raised in this study is: what is the relevance of indigenous people’s music in the existing (Lutheran) liturgy? The study employed an intercultural theological approach to Science and Religion, and the analysis is based on acculturation and the principle of elimination by substitution. The study also utilized a triangulated and contextual approach, and data was collected through observations, face-to-face interviews and video recordings of rehearsals and performances during church services and other related events. Secondary sources included published books and Journal articles. The investigation has revealed that the integration of spiritual folk songs (choruses), traditional musical instruments, handclapping, and dancing into liturgical church service of almost all Evangelical Lutheran churches found in Greater Sekhukhune District Municipality, has not compromised the essence of Lutheran tradition. It has rather encouraged maximum, active and unimpeded participation in liturgical church service and/or Congregational singing. Indications from the investigation have also shown that the dimensions of rhythm play an important role to contextualize and Africanize the existing (Lutheran) liturgy, in order to make the missionary qualities of worship an integral part of mission work. During the study, it was also observed that musical creativity and musicality in the visited churches embrace other elements such as the capacity for becoming absorbed emotionally in music and the ability to enter into an intimate relation with it, so that the whole organization of the soul is affected. It was concluded that it is indeed of great significance that indigenous people’s music should be regarded as a matter of relevance and ultimately becomes a vessel which carries the full meaning of the Gospel.
{"title":"The Influence of the African Religious and Cultural Context and Its Impact on Lutheranism: The Case of Greater Sekhukhune District Municipality","authors":"M. Lebaka","doi":"10.2478/ejis-2022-0011","DOIUrl":"https://doi.org/10.2478/ejis-2022-0011","url":null,"abstract":"Abstract In Greater Sekhukhune District Municipality, traditional religion has played a significant role in transforming Christianity by confronting it with the decisive issue of indigenization. The purpose of this study was, therefore, to examine the inter-religious relations among Christianity and African Traditional Religion (ATR), and to explore how African religious and cultural values have impacted on Christian – ATR relations within the municipality, and how the latter has, also, been affected by the former. The primary research question raised in this study is: what is the relevance of indigenous people’s music in the existing (Lutheran) liturgy? The study employed an intercultural theological approach to Science and Religion, and the analysis is based on acculturation and the principle of elimination by substitution. The study also utilized a triangulated and contextual approach, and data was collected through observations, face-to-face interviews and video recordings of rehearsals and performances during church services and other related events. Secondary sources included published books and Journal articles. The investigation has revealed that the integration of spiritual folk songs (choruses), traditional musical instruments, handclapping, and dancing into liturgical church service of almost all Evangelical Lutheran churches found in Greater Sekhukhune District Municipality, has not compromised the essence of Lutheran tradition. It has rather encouraged maximum, active and unimpeded participation in liturgical church service and/or Congregational singing. Indications from the investigation have also shown that the dimensions of rhythm play an important role to contextualize and Africanize the existing (Lutheran) liturgy, in order to make the missionary qualities of worship an integral part of mission work. During the study, it was also observed that musical creativity and musicality in the visited churches embrace other elements such as the capacity for becoming absorbed emotionally in music and the ability to enter into an intimate relation with it, so that the whole organization of the soul is affected. It was concluded that it is indeed of great significance that indigenous people’s music should be regarded as a matter of relevance and ultimately becomes a vessel which carries the full meaning of the Gospel.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"23 1","pages":"1 - 21"},"PeriodicalIF":0.0,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85086469","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic literature highlights the vital role that women can play in enhancing the economic development of nations. However, there is still gender inequality in developing countries, especially in education and labour market participation. Although women represent nearly half of the population in Egypt, their labour force participation rate is still very low compared to men. This paper's primary goal is to investigate the short and long-run associations between female labour force participation and Egypt's GDP growth rate. The study used annual time series data from 1990-2019, where the vector error correction model (VECM) was employed. The study found that female labour force participation and the gross fixed capital formation growth rate can enhance the GDP growth rate in the long run. Nevertheless, there is no statistically significant relationship in the short run. This paper's main recommendations are that the Egyptian government needs to implement policies that encourage women's labour force participation and decrease gender inequality. These policies could be changes in legislation, modernization of social norms, Job flexibility, and increasing access to childcare. Moreover, they need to focus on both the demand and supply sides of the quality of female labour force participation by matching the women’s education with the creation of suitable jobs.
{"title":"Female Labour Force Participation and the Economic Development in Egypt","authors":"E.A.M. Omran, Y. Bilan","doi":"10.24818/ejis.2022.01","DOIUrl":"https://doi.org/10.24818/ejis.2022.01","url":null,"abstract":"Economic literature highlights the vital role that women can play in enhancing the economic development of nations. However, there is still gender inequality in developing countries, especially in education and labour market participation. Although women represent nearly half of the population in Egypt, their labour force participation rate is still very low compared to men. This paper's primary goal is to investigate the short and long-run associations between female labour force participation and Egypt's GDP growth rate. The study used annual time series data from 1990-2019, where the vector error correction model (VECM) was employed. The study found that female labour force participation and the gross fixed capital formation growth rate can enhance the GDP growth rate in the long run. Nevertheless, there is no statistically significant relationship in the short run. This paper's main recommendations are that the Egyptian government needs to implement policies that encourage women's labour force participation and decrease gender inequality. These policies could be changes in legislation, modernization of social norms, Job flexibility, and increasing access to childcare. Moreover, they need to focus on both the demand and supply sides of the quality of female labour force participation by matching the women’s education with the creation of suitable jobs.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77690274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mihai Cristian, Maria-Isadora Lazar, D. M. Sitea, Carolina Țîmbalari
In recent decades, the COVID-19 pandemic is the biggest social and economic crisis that has influenced all aspects of human life. The main purpose of this research paper is to yield a bibliometric analysis in terms of research papers regarding the influence of the SARS-CoV-2 virus on the international economy. Accordingly, the findings will reveal the papers written in the domains of economics, business and business finance, management, hospitality, leisure, sport and tourism. Thus, current areas of research were examined and future study may be proposed. The analysis shows key information concerning the authors, journals, countries and keywords. It may be acknowledged that the COVID-19 pandemic was of utmost importance for the worldwide researchers. Our judgments and recommendations are supposed to act as a framework to possible research opportunities and conspicuous implications for the economic area.
{"title":"Mapping the COVID-19 Economy: An Exploratory Bibliometric Analysis","authors":"Mihai Cristian, Maria-Isadora Lazar, D. M. Sitea, Carolina Țîmbalari","doi":"10.24818/ejis.2022.10","DOIUrl":"https://doi.org/10.24818/ejis.2022.10","url":null,"abstract":"In recent decades, the COVID-19 pandemic is the biggest social and economic crisis that has influenced all aspects of human life. The main purpose of this research paper is to yield a bibliometric analysis in terms of research papers regarding the influence of the SARS-CoV-2 virus on the international economy. Accordingly, the findings will reveal the papers written in the domains of economics, business and business finance, management, hospitality, leisure, sport and tourism. Thus, current areas of research were examined and future study may be proposed. The analysis shows key information concerning the authors, journals, countries and keywords. It may be acknowledged that the COVID-19 pandemic was of utmost importance for the worldwide researchers. Our judgments and recommendations are supposed to act as a framework to possible research opportunities and conspicuous implications for the economic area.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"217 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88070182","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Today, oil is one of the most popular commodities traded globally, due to its indispensable character and multiple properties offered to mankind. Increased attention is paid to the analysis of volatile and fluctuating trends in the overall price of this valuable energy source. Using the autoregressive conditional heteroskedasticity models such as GARCH(1,1), GARCH-M(1,1) and EGARCH(1,1), the present study has as a priority objective in estimating and predicting the volatility of the oil returns series (Brent Crude Oil return series) in the 1987-2022. The main results highlighted the preference in using the asymmetric model EGARCH (1,1) on the measurement of conditional variance, showing that Brent Crude Oil reacts over 90% to any existing market’s shock (i.e.: information, events, facts, news, etc.) in a negative manner/way. At the same time, various tests and evaluation conditions were used (ARCH-LM Test, Durbin-Waston Test, High Log likelihood, Lowest Schwarz Information Criteria) in investigating the level of performance in estimation the conditional crude oil volatility. Each GARCH (1,1) model is meeting brilliantly these conditions and acquiring the character of stability and validity in use. At the same time, performing forecast analysis on crude oil volatility in two different time periods: 1987-2022, respectively 2020-2022, it was shown that existence of the phenomenon of clustering-volatility over the time, with strong implications for the functioning mechanism of international financial markets. Fulfilling those restrictive conditions, the symmetric and parametric model GARCH-M (1,1) becomes, in our case, the most efficient model in forecasting the volatility of Brent Crude Oil return series in the analysed period.
{"title":"The Use of GARCH Autoregressive Models in Estimating and Forecasting the Crude Oil Volatility","authors":"R. Mușetescu, G. Grigore, Simona Nicolae","doi":"10.24818/ejis.2022.02","DOIUrl":"https://doi.org/10.24818/ejis.2022.02","url":null,"abstract":"Today, oil is one of the most popular commodities traded globally, due to its indispensable character and multiple properties offered to mankind. Increased attention is paid to the analysis of volatile and fluctuating trends in the overall price of this valuable energy source. Using the autoregressive conditional heteroskedasticity models such as GARCH(1,1), GARCH-M(1,1) and EGARCH(1,1), the present study has as a priority objective in estimating and predicting the volatility of the oil returns series (Brent Crude Oil return series) in the 1987-2022. The main results highlighted the preference in using the asymmetric model EGARCH (1,1) on the measurement of conditional variance, showing that Brent Crude Oil reacts over 90% to any existing market’s shock (i.e.: information, events, facts, news, etc.) in a negative manner/way. At the same time, various tests and evaluation conditions were used (ARCH-LM Test, Durbin-Waston Test, High Log likelihood, Lowest Schwarz Information Criteria) in investigating the level of performance in estimation the conditional crude oil volatility. Each GARCH (1,1) model is meeting brilliantly these conditions and acquiring the character of stability and validity in use. At the same time, performing forecast analysis on crude oil volatility in two different time periods: 1987-2022, respectively 2020-2022, it was shown that existence of the phenomenon of clustering-volatility over the time, with strong implications for the functioning mechanism of international financial markets. Fulfilling those restrictive conditions, the symmetric and parametric model GARCH-M (1,1) becomes, in our case, the most efficient model in forecasting the volatility of Brent Crude Oil return series in the analysed period.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82782009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this research, we investigated the users’ feedback to understand the requirements of Turkish users of a digital well-being system which maximizes users’ happiness. We focus on the software features that persuade digital well-being system users to increase their happiness. Fifteen digital addicted university students participated to the surveys and in the interviews. A simple wireframe was designed to share a content-intensive simple image. Users focused on features. In addition, the participants gave feedback about the system while using the application about their happiness. Users’ needs were asked depending on the users’ feedback. Based on users' feedback, we list the software features they would like to have in their digital well-being system to manage their happiness.
{"title":"Users’ Feedback about a Digital Well-Being System","authors":"Esra Kahya Özyirmidokuz, E. Stoica, Kumru Uyar","doi":"10.24818/ejis.2022.15","DOIUrl":"https://doi.org/10.24818/ejis.2022.15","url":null,"abstract":"In this research, we investigated the users’ feedback to understand the requirements of Turkish users of a digital well-being system which maximizes users’ happiness. We focus on the software features that persuade digital well-being system users to increase their happiness. Fifteen digital addicted university students participated to the surveys and in the interviews. A simple wireframe was designed to share a content-intensive simple image. Users focused on features. In addition, the participants gave feedback about the system while using the application about their happiness. Users’ needs were asked depending on the users’ feedback. Based on users' feedback, we list the software features they would like to have in their digital well-being system to manage their happiness.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88732687","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Veronika Škerháková, P. Korba, Michaela Harničárová, Viktória Ali Taha
Given the today’s hypercompetitive labour market and the lack of human capital and talents, which is exacerbated by the COVID-19 pandemic, retaining talented employees is a big challenge for organizations. Human resources managers generally know that recruitment of talented and high performing employees is crucial for survival and sustainable competitiveness. There is a lot of academic research and discussions on which factors are the most effective in talent retention. The aim of this study was to analyse the antecedents of talented employees’ intention to stay with the organizations with an accent on selected demographic characteristics. The research sample consisted of 391 respondents - employees who have been identified as organizational talents (possibly included in the talent pool, if such exists in the organization). Data was collected using a questionnaire which, in addition to demographic characteristics, contained statements focusing on individual aspects of remaining in the organization. One of the aims of the study is to find out the deeper connections between the examined variables - to find out how and why the variables are correlated with each other through factor analysis. In order to determine the significance of the factors, inference statistics methods such as the Bartlett’s Test of Sphericity, the Kaiser-Meyer-Olkin test and the principal component analysis (PCA) were used. The influence of significant independent variables (demographic factors - gender, age, education, position held and length of employment in the organization) on the value of extracted factors was examined by means of ANOVA (Analysis of Variance).
{"title":"Talent Retention: Analysis of the Antecedents of Talented Employees’ Intention to Stay in the Organizations","authors":"Veronika Škerháková, P. Korba, Michaela Harničárová, Viktória Ali Taha","doi":"10.24818/ejis.2022.04","DOIUrl":"https://doi.org/10.24818/ejis.2022.04","url":null,"abstract":"Given the today’s hypercompetitive labour market and the lack of human capital and talents, which is exacerbated by the COVID-19 pandemic, retaining talented employees is a big challenge for organizations. Human resources managers generally know that recruitment of talented and high performing employees is crucial for survival and sustainable competitiveness. There is a lot of academic research and discussions on which factors are the most effective in talent retention. The aim of this study was to analyse the antecedents of talented employees’ intention to stay with the organizations with an accent on selected demographic characteristics. The research sample consisted of 391 respondents - employees who have been identified as organizational talents (possibly included in the talent pool, if such exists in the organization). Data was collected using a questionnaire which, in addition to demographic characteristics, contained statements focusing on individual aspects of remaining in the organization. One of the aims of the study is to find out the deeper connections between the examined variables - to find out how and why the variables are correlated with each other through factor analysis. In order to determine the significance of the factors, inference statistics methods such as the Bartlett’s Test of Sphericity, the Kaiser-Meyer-Olkin test and the principal component analysis (PCA) were used. The influence of significant independent variables (demographic factors - gender, age, education, position held and length of employment in the organization) on the value of extracted factors was examined by means of ANOVA (Analysis of Variance).","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84733243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The economic consequences of the COVID-19 pandemic are, and of course in the future will be, serious. These consequences are very often foundable also in labour market and education. Some of them are not only problems, but also new opportunities: improving of working conditions, modernising employment services and making them more flexible, strengthening employment and social protection systems, family-friendly working time, promoting lifelong learning opportunities, strengthening digital skills, etc. The paper focuses on different approaches and responses to changes in society caused by the COVID-19 pandemic. There are currently various scientific sources analyzing the threats initiated by the pandemic and their effects on various areas of human activity, including employment and education. However, every crisis can be taken also as an opportunity. This paper therefore primarily deals with the opportunities that the current crisis brings, especially in the field of employment and education. The paper is based on assessment of analyses (literary research) provided by international institutions such as the International Labour Office (ILO), and documents and other research studies prepared and published by the European Union or OECD.
{"title":"COVID-19 Pandemic: New Opportunities for Employment and Education?","authors":"M. Cerna, Pavlína Hejduková","doi":"10.24818/ejis.2022.16","DOIUrl":"https://doi.org/10.24818/ejis.2022.16","url":null,"abstract":"The economic consequences of the COVID-19 pandemic are, and of course in the future will be, serious. These consequences are very often foundable also in labour market and education. Some of them are not only problems, but also new opportunities: improving of working conditions, modernising employment services and making them more flexible, strengthening employment and social protection systems, family-friendly working time, promoting lifelong learning opportunities, strengthening digital skills, etc. The paper focuses on different approaches and responses to changes in society caused by the COVID-19 pandemic. There are currently various scientific sources analyzing the threats initiated by the pandemic and their effects on various areas of human activity, including employment and education. However, every crisis can be taken also as an opportunity. This paper therefore primarily deals with the opportunities that the current crisis brings, especially in the field of employment and education. The paper is based on assessment of analyses (literary research) provided by international institutions such as the International Labour Office (ILO), and documents and other research studies prepared and published by the European Union or OECD.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"55 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89353962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
University outreach in Brazil is a way of inserting external society into the procedures and activities developed in the academic field. The objective of this study was to investigate the interaction between the Pataxó indigenous community and a Brazilian higher education institution for the implementation of a university outreach action. This action aimed to promote the training of teachers of this indigenous group to work in multigrade classrooms. The project’s construction began in 2018 through an institutional partnership involving the city hall of Porto Seguro, the Pataxó community, and the Federal Institute of Bahia. Based on the protagonism of the indigenous groups, the role of the higher education institution in programs involving traditional communities is discussed. The result indicates that the protagonism of the traditional community does not take away the powers of the institution that will offer the training but adds quality to an equitable relationship with the different sectors of Brazilian society.
{"title":"University Outreach, Indigenous Knowledge, and Education: A Project with the Pataxó in Brazil","authors":"Francisco Costa, Samuel Figueira-Cardoso","doi":"10.24818/ejis.2022.03","DOIUrl":"https://doi.org/10.24818/ejis.2022.03","url":null,"abstract":"University outreach in Brazil is a way of inserting external society into the procedures and activities developed in the academic field. The objective of this study was to investigate the interaction between the Pataxó indigenous community and a Brazilian higher education institution for the implementation of a university outreach action. This action aimed to promote the training of teachers of this indigenous group to work in multigrade classrooms. The project’s construction began in 2018 through an institutional partnership involving the city hall of Porto Seguro, the Pataxó community, and the Federal Institute of Bahia. Based on the protagonism of the indigenous groups, the role of the higher education institution in programs involving traditional communities is discussed. The result indicates that the protagonism of the traditional community does not take away the powers of the institution that will offer the training but adds quality to an equitable relationship with the different sectors of Brazilian society.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86865942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
While many countries were confronting immense financial crises, Lebanon was one of the few countries that were able to withstand the dramatic consequences of the crises despite suffering from decades of geopolitical and financial instability. However, the burdened capital structure of Lebanon was overstrained by the incrementing cost of borrowing. The actual beneficiary from the latter financial model was the domestic banking sector. This sponsored the process of attracting customer deposits to be reinvested in the government debt issued by different Lebanese governments for securing the funds needed in financing the process of the development and reconstruction following decades of continuous war and destruction. The Lebanese financial system was abridged by redirecting the investors in the financial sector towards placing their capitals in customer deposit schemes with the domestic banks rather than channeling the capitals towards other economic sectors. In fact, the incentive for the investors was designated in the high yields secured by the reinvestment opportunity in the government debt that has been rising every day to reach historic records while the incentive for the domestic banks remained the conventional scheme of premiums charged for intermediation between the lender and the borrower. The latter process led to increase the concentration risk of customer deposits as liabilities on the balance sheets of the local banks. This research study aims at demonstrating the feasibility of the implementation of a scientific reform by interpreting the recognition of modern investment alternatives for the investors in the Lebanese financial sector while securing the same funding level for the Lebanese government and governing the roles of the sponsoring banks. The study will adopt referenced fundamental and technical interpretation and arguments to emphasize the necessity of launching a new era of investment derived from stimulating the domestic financial market by activating and incentivizing the role of country’s stock exchange.
{"title":"The Need for Reform of Financial Markets in Times of Crisis in Emerging Economies: The Case of Lebanon","authors":"Mohamad ABOU EL HASSAN","doi":"10.24818/ejis.2022.14","DOIUrl":"https://doi.org/10.24818/ejis.2022.14","url":null,"abstract":"While many countries were confronting immense financial crises, Lebanon was one of the few countries that were able to withstand the dramatic consequences of the crises despite suffering from decades of geopolitical and financial instability. However, the burdened capital structure of Lebanon was overstrained by the incrementing cost of borrowing. The actual beneficiary from the latter financial model was the domestic banking sector. This sponsored the process of attracting customer deposits to be reinvested in the government debt issued by different Lebanese governments for securing the funds needed in financing the process of the development and reconstruction following decades of continuous war and destruction. The Lebanese financial system was abridged by redirecting the investors in the financial sector towards placing their capitals in customer deposit schemes with the domestic banks rather than channeling the capitals towards other economic sectors. In fact, the incentive for the investors was designated in the high yields secured by the reinvestment opportunity in the government debt that has been rising every day to reach historic records while the incentive for the domestic banks remained the conventional scheme of premiums charged for intermediation between the lender and the borrower. The latter process led to increase the concentration risk of customer deposits as liabilities on the balance sheets of the local banks. This research study aims at demonstrating the feasibility of the implementation of a scientific reform by interpreting the recognition of modern investment alternatives for the investors in the Lebanese financial sector while securing the same funding level for the Lebanese government and governing the roles of the sponsoring banks. The study will adopt referenced fundamental and technical interpretation and arguments to emphasize the necessity of launching a new era of investment derived from stimulating the domestic financial market by activating and incentivizing the role of country’s stock exchange.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78049500","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ever since the Global Financial Crisis, the financial system has seen an accelerated level of innovation. Bitcoin offered a decentralized alternative to money, with thousands of other cryptoassets quickly emerging. Most recently, Decentralized Finance (DeFi) promises to offer a new digital economy, with smart contracts replacing the need for financial intermediaries. This new market aims to reinvent traditional financial products in a more transparent and interoperable way. In this paper we aim to undertake an extensive literature review of the financial stability risks posed by the fast-growing DeFi market and assess these using the Financial Stability Board’s fintech framework. We find that DeFi could pose several challenges to traditional financial infrastructure, primarily by increasing interlinkages between cryptoassets and traditional financial markets. However, if DeFi evolves in a safe way, it could increase competition and financial inclusion with overall positive implications for financial stability.
{"title":"Bitcoin is so Last Decade – How Decentralized Finance (DeFi) could Shape the Digital Economy","authors":"Irina Mnohoghitnei, Alexandra Horobet, L. Belaşcu","doi":"10.24818/ejis.2022.06","DOIUrl":"https://doi.org/10.24818/ejis.2022.06","url":null,"abstract":"Ever since the Global Financial Crisis, the financial system has seen an accelerated level of innovation. Bitcoin offered a decentralized alternative to money, with thousands of other cryptoassets quickly emerging. Most recently, Decentralized Finance (DeFi) promises to offer a new digital economy, with smart contracts replacing the need for financial intermediaries. This new market aims to reinvent traditional financial products in a more transparent and interoperable way. In this paper we aim to undertake an extensive literature review of the financial stability risks posed by the fast-growing DeFi market and assess these using the Financial Stability Board’s fintech framework. We find that DeFi could pose several challenges to traditional financial infrastructure, primarily by increasing interlinkages between cryptoassets and traditional financial markets. However, if DeFi evolves in a safe way, it could increase competition and financial inclusion with overall positive implications for financial stability.","PeriodicalId":36073,"journal":{"name":"European Journal of Interdisciplinary Studies","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80953080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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