Financial development and poverty: evidence from the CFA Franc Zone

The financial liberalization in the 1980s and early 1990s led the CFA Franc Zone countries to deepen reforms in their financial systems. These reforms fostered financial development, which in turn may have reduced income poverty, as emphasized by several theoretical arguments in the literature. This study aims at estimating the contribution of financial development to poverty alleviation in the CFA Franc Zone. Results based on a panel of CFA Franc Zone countries show that financial development is associated with a drop in the proportion of poor population. Next, financial development reduces the extent to which the income of individuals falls below the poverty line. Moreover, in some cases, the effect of financial development on poverty may be subject to nonlinearities. Finally, financial instability or unstable financial development leading to crises may mitigate the favourable effect of financial development on poverty reduction. These findings are robust to the use of alternative measures of financial development and hold after controlling for a potential simultaneity and a small sample biases.     

新巴塞尔协议下我国商业银行风险控制能力测度模型实证研究

风险管理是银行的核心职能,风险管理能力是银行的核心能力,它们直接影响到商业银行的产品创新、市场拓展、绩效管理与收益创造等战略发展问题.而建立我国商业银行风险控制能力测度模型是有效地实施风险控制的前提,可以为我国商业银行实施全方位的风险管理战略提供有效的理论平台和策略指导.     

Social support during COVID-19: Exploring the psychometric properties of the PSS-JSAS and its relationship with job search activities

The COVID-19 pandemic has highlighted the importance of social support for everyone. Supports from relatives, neighbors, and friends are more significant for a job seeker, especially during the pandemic. Accordingly, the present study explored the psychometric properties of the Perceived Social Support for Job Search Activities Scale (PSS-JSAS) in the Indian context with the help of two independent samples. First sample of 518 respondents was randomly divided into two subsamples using the random case selection feature in the statistical package for social sciences (SPSS). The exploratory factor analysis (EFA) was performed on the first subsample, which yielded a one-factor model explaining 47.23% of variations. The confirmatory factor analysis (CFA) conducted on the second subsample concluded a good model fit of PSS-JSAS. In the second sample, Cronbach's alpha and composite reliability values (greater than 0.70) established the scale's reliability. Results also revealed that the correlation coefficients between PSS-JSAS score, hope, self-efficacy, resilience, and optimism were 0.470, 0.552, 0.621, and 0.5 at p < 0.01. It also revealed a negative association with job search anxiety scores (r = −0.549, p < 0.01). Thus, PSS-JSAS was positively associated with PsyCap and negatively correlated with job search anxiety behaviors. It concluded the criterion validity of PSS-JSAS in the Indian context. Multigroup factor analysis concludes that the scale is equally valid for both Indian males and females. Hence, results reported adequate reliability and validity of the scale in the Indian context. These findings will encourage future researchers to investigate the phenomena of social support in the job search.