An examination of house price bubble in the real estate sector: the case of a small island economy – Fiji

Khan, Mohsin; Singh, Rup; Patel, Arvind; Jain, Dipika

doi:10.1108/ijhma-05-2020-0056

Cited by 2 publications

(2 citation statements)

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“…As such, small frictions of whatever type (financial problems, housing price bubbles, systems failure, climactic events, health issues, etc.) can have a huge negative impact on the macro‐financial situation of the economy (Khan et al, 2020). Besides, quality data is a major challenge in these economies due to issues related to data generation processes and the statistical capacity of data producers (Jain, Singh, & Waqas, 2020).…”

Section: Aspects Of Fiji Economymentioning

confidence: 99%

Foreign exchange market asymmetries in Pacific small island developing states: Evidence from Fiji

et al. 2022

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After abandoning Bretton Wood, the foreign exchange market has been dominated by three types of economies: export‐oriented economies (China and other Asian countries), commodity economies (Australia, New Zealand, Canada, and oil exporting nations) and reserve‐currency economies (US, EU, UK, and Swiss). As a result, the asymmetric development of the foreign exchange market has reduced the monetary and fiscal space for PSIDS, which face structural challenges such as a low population base, import dependence, aid dependency, climate risk, and political uncertainty. The ‘Exchange Market Pressure Index’ (EMPI) for Fiji is developed in this article to quantify the pressure on the exchange rate and monetary authorities' responses to micromanaging balance sheet impacts. The calculated EMPI accurately reflects four instances of financial distress in Fiji, including significant exchange market pressure in response to growing trade deficits and external debt, the global financial crisis's contagion effect, and political uncertainty. Our EMP Index's robustness is attributed in part to the employment of a dynamic time series estimate method, a time‐varying weighing scheme, and a high‐frequency monthly dataset.

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Section: Aspects Of Fiji Economymentioning

confidence: 99%

Foreign exchange market asymmetries in Pacific small island developing states: Evidence from Fiji

et al. 2022

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“…This political and economic control places challenges on the Palestinian Authority when financing its expenditures and approving its public budget. Therefore, it has become of great necessity and interest to study the factors that mainly affect the financial sustainability of the Palestinian budget (Abuamsha, 2022).…”

Section: Introductionmentioning

confidence: 99%

Shadow economy–financial sustainability nexus: the case of Palestine

Abuamsha,

Hattab

2023

JES

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PurposeThe present research aims at identifying the latent factors that are driving the rise of the shadow economy in Palestine, assesses its magnitude from 1998 to 2021 and investigates the influence that its size has on the financial sustainability of Palestine's public budget.Design/methodology/approachThe researchers employed the multi-indicator multi-causes (MIMIC) model to estimate the size of the shadow economy and investigate its effect on the financial sustainability of the public budget. Economic factors such as direct taxes, indirect taxes, government welfare, government spending and unemployment were considered causal variables, while indicators of financial sustainability included budget deficit, public debt and gross domestic product (GDP). The shadow economy served as an intermediary variable.FindingsBased on the findings, the researchers recommend regulating and formalizing legitimate activities within the shadow economy. Additionally, they suggest promoting investment projects to reduce unemployment rates, lowering taxes on essential goods and consumer items and providing support to local producers in Palestine. These measures aim at addressing the challenges posed by the shadow economy and fostering economic stability.Originality/valueThe study reveals that the average size of the shadow economy in Palestine between 1998 and 2021 was 43.80%, fluctuating within the range of 39.92%–46.30%. It further establishes that an increase in direct and indirect taxes as well as unemployment contributes to the expansion of the shadow economy. Conversely, government welfare and spending exert a diminishing effect. Moreover, the study finds that the rise of the shadow economy correlates with an increase in public debt, budget deficit and GDP, indicating a negative impact on the financial sustainability of the public budget.

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An examination of house price bubble in the real estate sector: the case of a small island economy – Fiji

Cited by 2 publications

References 39 publications

Foreign exchange market asymmetries in Pacific small island developing states: Evidence from Fiji

Foreign exchange market asymmetries in Pacific small island developing states: Evidence from Fiji

Shadow economy–financial sustainability nexus: the case of Palestine

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