Hasil untuk "Public finance"

V. Gabrel, Cécile Murat, A. Thiele

N. Watts, M. Amann, N. Arnell et al.

The Lancet Countdown: tracking progress on health and climate change was established to provide an independent, global monitoring system dedicated to tracking the health dimensions of the impacts of, and the response to, climate change. The Lancet Countdown tracks 41 indicators across five domains: climate change impacts, exposures, and vulnerability; adaptation, planning, and resilience for health; mitigation actions and health co-benefits; finance and economics; and public and political engagement. This report is the product of a collaboration of 27 leading academic institutions, the UN, and intergovernmental agencies from every continent. The report draws on world-class expertise from climate scientists, ecologists, mathematicians, geographers, engineers, energy, food, livestock, and transport experts, economists, social and political scientists, public health professionals, and. doctors. The Lancet Countdown’s work builds on decades of research in this field, and was first proposed in the 2015 Lancet Commission on health and climate change,1 which documented the human impacts of climate change and provided ten global recommendations to respond to this public health emergency and secure the public health benefits available (panel 1).

Morten Sørensen, Morten Sørensen, Morten Sørensen

Michael P. Smith

A. Shleifer, Daniel Wolfenzon

B. A. Jain, Omesh Kini

Robert E. Carpenter, Bruce C. Petersen

L. Bing, A. Akintoye, P. Edwards et al.

Armin Schwienbacher, Benjamin Larralde

Nicolas P. B. Bollen, R. Whaley

Philippe Martin, C. A. Rogers

Abstract This paper examines the impact of public infrastructure on industrial location when increasing returns are present. Trade integration implies that firms tend to locate in countries with better domestic infrastructure. High levels of international infrastructure and strong returns to scale magnify industrial relocation due to differentials in domestic infrastructure or capital endowments. Regional policies which finance domestic infrastructure in a poor country lead firms to relocate in this country. Regional policies which finance international infrastructure in a poor country will lead firms to leave this country. We also analyze the incentives for countries to inhibit industrial relocation.

George Doumar, M. Gurbuz, Imad K. Harb et al.

. The article substantiates the main challenges for implementing the digital transformation of the public finance management system in Ukraine and identifies the prospects for its implementation. It is established that the digital transformation of the public finance system is a comprehensive process of introducing digital technologies into

Silvio Vismara

R. Bénabou

J. Houston, C. James

Michael J. Fleming, Eli M. Remolona

S. Claessens

Finance is an important component of development, including for the poor. Indeed, much recent empirical evidence has shown that a more developed financial system can help reduce poverty and lower income inequality. In addition to facilitating overall economic growth, finance can help individuals smooth their income, insure against risks, and broaden investment opportunities. Yet, access to finance is limited in many developing countries to few individuals and firms. Policy questions thus arise concerning what determines access to financial services, what barriers may hinder access, whether more general availability of financial services should be a public sector goal, and, if so, what the best means of achieving this are.

Wenbin Wu

In traditional banking, repeated deposit-and-lend cycles let a single dollar of reserves support multiple dollars of claims. Decentralized finance produces an analogous structure with tokens. Constructing a Token Graph of 10,200 tokens across 200 blockchains, this paper maps the resulting hierarchy and shows that, by late 2025, each dollar of base assets supports $4.7 of total claims. An embedded yield correction disentangles two channels that raw data conflates: a compositional channel, where lending protocols concentrate in deeper tiers and mechanically raise average yields; and a liquidity channel, where each derivation step reduces secondary-market depth and depresses yields in liquidity-sensitive pools. The liquidity channel concentrates in DEX pools and vanishes in lending pools. A yield decomposition shows that the tier gradient operates entirely through fundamental protocol yields, not incentive-token emissions; quantile regressions reveal that the structural associations concentrate in the upper tail of the yield distribution, with near-zero effects at the median. These findings reframe DeFi's "double counting" as a structural risk question and identify liquidity fragmentation as the primary mechanism associated with yield variation across the token hierarchy.

Tiansheng Hu, Tongyan Hu, Liuyang Bai et al.

Recent LLMs have demonstrated promising ability in solving finance related problems. However, applying LLMs in real-world finance application remains challenging due to its high risk and high stakes property. This paper introduces FinTrust, a comprehensive benchmark specifically designed for evaluating the trustworthiness of LLMs in finance applications. Our benchmark focuses on a wide range of alignment issues based on practical context and features fine-grained tasks for each dimension of trustworthiness evaluation. We assess eleven LLMs on FinTrust and find that proprietary models like o4-mini outperforms in most tasks such as safety while open-source models like DeepSeek-V3 have advantage in specific areas like industry-level fairness. For challenging task like fiduciary alignment and disclosure, all LLMs fall short, showing a significant gap in legal awareness. We believe that FinTrust can be a valuable benchmark for LLMs' trustworthiness evaluation in finance domain.

Linwei Wu

The current surge in supply chain finance has significantly alleviated the "capital challenges" faced by domestic related enterprises, enabling enterprises upstream and subsequent stages of the industrial chain to achieve effective circulation of financing services in the supply chain based on the credit of core enterprises. By gathering essential information from the heart of the supply chain, supply chain financing enables efficient resource distribution and aids all stakeholders in making well-informed choices. However, supply chain finance in China still faces numerous obstacles, such as information asymmetry and inefficient credit transmission chains, hindering its long-term development. This paper designs an operational framework for supply chain finance incorporating blockchain technology, clearly defines the participating entities, and analyzes their business relationships. Based upon evolutionary game theory, a supply chain finance financing game model incorporating blockchain technology is constructed. A comparative analysis of the model's equilibrium points and their stability is conducted. The choices of evolutionary equilibrium strategies adopted by small and medium-sized enterprises, key players, and financing entities within this framework are explored, and the influence of blockchain technology on the prerequisites for completing supply chain finance transactions is investigated.