research topics in financial instruments

Research Topics & Ideas: Finance

120+ Finance Research Topic Ideas To Fast-Track Your Project

If you’re just starting out exploring potential research topics for your finance-related dissertation, thesis or research project, you’ve come to the right place. In this post, we’ll help kickstart your research topic ideation process by providing a hearty list of finance-centric research topics and ideas.

PS – This is just the start…

We know it’s exciting to run through a list of research topics, but please keep in mind that this list is just a starting point . To develop a suitable education-related research topic, you’ll need to identify a clear and convincing research gap , and a viable plan of action to fill that gap.

If this sounds foreign to you, check out our free research topic webinar that explores how to find and refine a high-quality research topic, from scratch. Alternatively, if you’d like hands-on help, consider our 1-on-1 coaching service .

Overview: Finance Research Topics

• Corporate finance topics
• Investment banking topics
• Private equity & VC
• Asset management
• Hedge funds
• Financial planning & advisory
• Quantitative finance
• Treasury management
• Financial technology (FinTech)
• Commercial banking
• International finance

Corporate Finance

These research topic ideas explore a breadth of issues ranging from the examination of capital structure to the exploration of financial strategies in mergers and acquisitions.

• Evaluating the impact of capital structure on firm performance across different industries
• Assessing the effectiveness of financial management practices in emerging markets
• A comparative analysis of the cost of capital and financial structure in multinational corporations across different regulatory environments
• Examining how integrating sustainability and CSR initiatives affect a corporation’s financial performance and brand reputation
• Analysing how rigorous financial analysis informs strategic decisions and contributes to corporate growth
• Examining the relationship between corporate governance structures and financial performance
• A comparative analysis of financing strategies among mergers and acquisitions
• Evaluating the importance of financial transparency and its impact on investor relations and trust
• Investigating the role of financial flexibility in strategic investment decisions during economic downturns
• Investigating how different dividend policies affect shareholder value and the firm’s financial performance

Investment Banking

The list below presents a series of research topics exploring the multifaceted dimensions of investment banking, with a particular focus on its evolution following the 2008 financial crisis.

• Analysing the evolution and impact of regulatory frameworks in investment banking post-2008 financial crisis
• Investigating the challenges and opportunities associated with cross-border M&As facilitated by investment banks.
• Evaluating the role of investment banks in facilitating mergers and acquisitions in emerging markets
• Analysing the transformation brought about by digital technologies in the delivery of investment banking services and its effects on efficiency and client satisfaction.
• Evaluating the role of investment banks in promoting sustainable finance and the integration of Environmental, Social, and Governance (ESG) criteria in investment decisions.
• Assessing the impact of technology on the efficiency and effectiveness of investment banking services
• Examining the effectiveness of investment banks in pricing and marketing IPOs, and the subsequent performance of these IPOs in the stock market.
• A comparative analysis of different risk management strategies employed by investment banks
• Examining the relationship between investment banking fees and corporate performance
• A comparative analysis of competitive strategies employed by leading investment banks and their impact on market share and profitability

Private Equity & Venture Capital (VC)

These research topic ideas are centred on venture capital and private equity investments, with a focus on their impact on technological startups, emerging technologies, and broader economic ecosystems.

• Investigating the determinants of successful venture capital investments in tech startups
• Analysing the trends and outcomes of venture capital funding in emerging technologies such as artificial intelligence, blockchain, or clean energy
• Assessing the performance and return on investment of different exit strategies employed by venture capital firms
• Assessing the impact of private equity investments on the financial performance of SMEs
• Analysing the role of venture capital in fostering innovation and entrepreneurship
• Evaluating the exit strategies of private equity firms: A comparative analysis
• Exploring the ethical considerations in private equity and venture capital financing
• Investigating how private equity ownership influences operational efficiency and overall business performance
• Evaluating the effectiveness of corporate governance structures in companies backed by private equity investments
• Examining how the regulatory environment in different regions affects the operations, investments and performance of private equity and venture capital firms

Asset Management

This list includes a range of research topic ideas focused on asset management, probing into the effectiveness of various strategies, the integration of technology, and the alignment with ethical principles among other key dimensions.

• Analysing the effectiveness of different asset allocation strategies in diverse economic environments
• Analysing the methodologies and effectiveness of performance attribution in asset management firms
• Assessing the impact of environmental, social, and governance (ESG) criteria on fund performance
• Examining the role of robo-advisors in modern asset management
• Evaluating how advancements in technology are reshaping portfolio management strategies within asset management firms
• Evaluating the performance persistence of mutual funds and hedge funds
• Investigating the long-term performance of portfolios managed with ethical or socially responsible investing principles
• Investigating the behavioural biases in individual and institutional investment decisions
• Examining the asset allocation strategies employed by pension funds and their impact on long-term fund performance
• Assessing the operational efficiency of asset management firms and its correlation with fund performance

Hedge Funds

Here we explore research topics related to hedge fund operations and strategies, including their implications on corporate governance, financial market stability, and regulatory compliance among other critical facets.

• Assessing the impact of hedge fund activism on corporate governance and financial performance
• Analysing the effectiveness and implications of market-neutral strategies employed by hedge funds
• Investigating how different fee structures impact the performance and investor attraction to hedge funds
• Evaluating the contribution of hedge funds to financial market liquidity and the implications for market stability
• Analysing the risk-return profile of hedge fund strategies during financial crises
• Evaluating the influence of regulatory changes on hedge fund operations and performance
• Examining the level of transparency and disclosure practices in the hedge fund industry and its impact on investor trust and regulatory compliance
• Assessing the contribution of hedge funds to systemic risk in financial markets, and the effectiveness of regulatory measures in mitigating such risks
• Examining the role of hedge funds in financial market stability
• Investigating the determinants of hedge fund success: A comparative analysis

Financial Planning and Advisory

This list explores various research topic ideas related to financial planning, focusing on the effects of financial literacy, the adoption of digital tools, taxation policies, and the role of financial advisors.

• Evaluating the impact of financial literacy on individual financial planning effectiveness
• Analysing how different taxation policies influence financial planning strategies among individuals and businesses
• Evaluating the effectiveness and user adoption of digital tools in modern financial planning practices
• Investigating the adequacy of long-term financial planning strategies in ensuring retirement security
• Assessing the role of financial education in shaping financial planning behaviour among different demographic groups
• Examining the impact of psychological biases on financial planning and decision-making, and strategies to mitigate these biases
• Assessing the behavioural factors influencing financial planning decisions
• Examining the role of financial advisors in managing retirement savings
• A comparative analysis of traditional versus robo-advisory in financial planning
• Investigating the ethics of financial advisory practices

The following list delves into research topics within the insurance sector, touching on the technological transformations, regulatory shifts, and evolving consumer behaviours among other pivotal aspects.

• Analysing the impact of technology adoption on insurance pricing and risk management
• Analysing the influence of Insurtech innovations on the competitive dynamics and consumer choices in insurance markets
• Investigating the factors affecting consumer behaviour in insurance product selection and the role of digital channels in influencing decisions
• Assessing the effect of regulatory changes on insurance product offerings
• Examining the determinants of insurance penetration in emerging markets
• Evaluating the operational efficiency of claims management processes in insurance companies and its impact on customer satisfaction
• Examining the evolution and effectiveness of risk assessment models used in insurance underwriting and their impact on pricing and coverage
• Evaluating the role of insurance in financial stability and economic development
• Investigating the impact of climate change on insurance models and products
• Exploring the challenges and opportunities in underwriting cyber insurance in the face of evolving cyber threats and regulations

Quantitative Finance

These topic ideas span the development of asset pricing models, evaluation of machine learning algorithms, and the exploration of ethical implications among other pivotal areas.

• Developing and testing new quantitative models for asset pricing
• Analysing the effectiveness and limitations of machine learning algorithms in predicting financial market movements
• Assessing the effectiveness of various risk management techniques in quantitative finance
• Evaluating the advancements in portfolio optimisation techniques and their impact on risk-adjusted returns
• Evaluating the impact of high-frequency trading on market efficiency and stability
• Investigating the influence of algorithmic trading strategies on market efficiency and liquidity
• Examining the risk parity approach in asset allocation and its effectiveness in different market conditions
• Examining the application of machine learning and artificial intelligence in quantitative financial analysis
• Investigating the ethical implications of quantitative financial innovations
• Assessing the profitability and market impact of statistical arbitrage strategies considering different market microstructures

Treasury Management

The following topic ideas explore treasury management, focusing on modernisation through technological advancements, the impact on firm liquidity, and the intertwined relationship with corporate governance among other crucial areas.

• Analysing the impact of treasury management practices on firm liquidity and profitability
• Analysing the role of automation in enhancing operational efficiency and strategic decision-making in treasury management
• Evaluating the effectiveness of various cash management strategies in multinational corporations
• Investigating the potential of blockchain technology in streamlining treasury operations and enhancing transparency
• Examining the role of treasury management in mitigating financial risks
• Evaluating the accuracy and effectiveness of various cash flow forecasting techniques employed in treasury management
• Assessing the impact of technological advancements on treasury management operations
• Examining the effectiveness of different foreign exchange risk management strategies employed by treasury managers in multinational corporations
• Assessing the impact of regulatory compliance requirements on the operational and strategic aspects of treasury management
• Investigating the relationship between treasury management and corporate governance

Financial Technology (FinTech)

The following research topic ideas explore the transformative potential of blockchain, the rise of open banking, and the burgeoning landscape of peer-to-peer lending among other focal areas.

• Evaluating the impact of blockchain technology on financial services
• Investigating the implications of open banking on consumer data privacy and financial services competition
• Assessing the role of FinTech in financial inclusion in emerging markets
• Analysing the role of peer-to-peer lending platforms in promoting financial inclusion and their impact on traditional banking systems
• Examining the cybersecurity challenges faced by FinTech firms and the regulatory measures to ensure data protection and financial stability
• Examining the regulatory challenges and opportunities in the FinTech ecosystem
• Assessing the impact of artificial intelligence on the delivery of financial services, customer experience, and operational efficiency within FinTech firms
• Analysing the adoption and impact of cryptocurrencies on traditional financial systems
• Investigating the determinants of success for FinTech startups

Commercial Banking

These topic ideas span commercial banking, encompassing digital transformation, support for small and medium-sized enterprises (SMEs), and the evolving regulatory and competitive landscape among other key themes.

• Assessing the impact of digital transformation on commercial banking services and competitiveness
• Analysing the impact of digital transformation on customer experience and operational efficiency in commercial banking
• Evaluating the role of commercial banks in supporting small and medium-sized enterprises (SMEs)
• Investigating the effectiveness of credit risk management practices and their impact on bank profitability and financial stability
• Examining the relationship between commercial banking practices and financial stability
• Evaluating the implications of open banking frameworks on the competitive landscape and service innovation in commercial banking
• Assessing how regulatory changes affect lending practices and risk appetite of commercial banks
• Examining how commercial banks are adapting their strategies in response to competition from FinTech firms and changing consumer preferences
• Analysing the impact of regulatory compliance on commercial banking operations
• Investigating the determinants of customer satisfaction and loyalty in commercial banking

International Finance

The folowing research topic ideas are centred around international finance and global economic dynamics, delving into aspects like exchange rate fluctuations, international financial regulations, and the role of international financial institutions among other pivotal areas.

• Analysing the determinants of exchange rate fluctuations and their impact on international trade
• Analysing the influence of global trade agreements on international financial flows and foreign direct investments
• Evaluating the effectiveness of international portfolio diversification strategies in mitigating risks and enhancing returns
• Evaluating the role of international financial institutions in global financial stability
• Investigating the role and implications of offshore financial centres on international financial stability and regulatory harmonisation
• Examining the impact of global financial crises on emerging market economies
• Examining the challenges and regulatory frameworks associated with cross-border banking operations
• Assessing the effectiveness of international financial regulations
• Investigating the challenges and opportunities of cross-border mergers and acquisitions

Choosing A Research Topic

These finance-related research topic ideas are starting points to guide your thinking. They are intentionally very broad and open-ended. By engaging with the currently literature in your field of interest, you’ll be able to narrow down your focus to a specific research gap .

When choosing a topic , you’ll need to take into account its originality, relevance, feasibility, and the resources you have at your disposal. Make sure to align your interest and expertise in the subject with your university program’s specific requirements. Always consult your academic advisor to ensure that your chosen topic not only meets the academic criteria but also provides a valuable contribution to the field. 

If you need a helping hand, feel free to check out our private coaching service here.

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50 Best Finance Dissertation Topics For Research Students 2024

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Finance Dissertation Made Easier!

Embarking on your dissertation adventure? Look no further! Choosing the right finance dissertation topics is like laying the foundation for your research journey in Finance, and we're here to light up your path. In this blog, we're diving deep into why dissertation topics in finance matter so much. We've got some golden writing tips to share with you! We're also unveiling the secret recipe for structuring a stellar finance dissertation and exploring intriguing topics across various finance sub-fields. Whether you're captivated by cryptocurrency, risk management strategies, or exploring the wonders of Internet banking, microfinance, retail and commercial banking - our buffet of Finance dissertation topics will surely set your research spirit on fire!

What is a Finance Dissertation?

Finance dissertations are academic papers that delve into specific finance topics chosen by students, covering areas such as stock markets, banking, risk management, and healthcare finance. These dissertations require extensive research to create a compelling report and contribute to the student's confidence and satisfaction in the field of Finance. Now, let's understand why these dissertations are so important and why choosing the right Finance dissertation topics is crucial!

Why Are Finance Dissertation Topics Important?

Choosing the dissertation topics for Finance students is essential as it will influence the course of your research. It determines the direction and scope of your study. You must make sure that the Finance dissertation topics you choose are relevant to your field of interest, or you may end up finding it more challenging to write. Here are a few reasons why finance thesis topics are important:

1. Relevance

Opting for relevant finance thesis topics ensures that your research contributes to the existing body of knowledge and addresses contemporary issues in the field of Finance. Choosing a dissertation topic in Finance that is relevant to the industry can make a meaningful impact and advance understanding in your chosen area.

2. Personal Interest

Selecting Finance dissertation topics that align with your interests and career goals is vital. When genuinely passionate about your research area, you are more likely to stay motivated during the dissertation process. Your interest will drive you to explore the subject thoroughly and produce high-quality work.

3. Future Opportunities

Well-chosen Finance dissertation topics can open doors to various future opportunities. It can enhance your employability by showcasing your expertise in a specific finance area. It may lead to potential research collaborations and invitations to conferences in your field of interest.

4. Academic Supervision

Your choice of topics for dissertation in Finance also influences the availability of academic supervisors with expertise in your chosen area. Selecting a well-defined research area increases the likelihood of finding a supervisor to guide you effectively throughout the dissertation. Their knowledge and guidance will greatly contribute to the success of your research.

Writing Tips for Finance Dissertation

A lot of planning, formatting, and structuring goes into writing a dissertation. It starts with deciding on topics for a dissertation in Finance and conducting tons of research, deciding on methods, and so on. However, you can navigate the process more effectively with proper planning and organisation. Below are some tips to assist you along the way, and here is a blog on the 10 tips on writing a dissertation that can give you more information, should you need it!

1. Select a Manageable Topic

Choosing Finance research topics within the given timeframe and resources is important. Select a research area that interests you and aligns with your career goals. It will help you stay inspired throughout the dissertation process.

2. Conduct a Thorough Literature Review

A comprehensive literature review forms the backbone of your research. After choosing the Finance dissertation topics, dive deep into academic papers, books, and industry reports, gaining a solid understanding of your chosen area to identify research gaps and establish the significance of your study.

3. Define Clear Research Objectives

Clearly define your dissertation's research questions and objectives. It will provide a clear direction for your research and guide your data collection, analysis, and overall structure. Ensure your objectives are specific, measurable, achievable, relevant, and time-bound (SMART).

4. Collect and Analyse Data

Depending on your research methodology and your Finance dissertation topics, collect and analyze relevant data to support your findings. It may involve conducting surveys, interviews, experiments, and analyzing existing datasets. Choose appropriate statistical techniques and qualitative methods to derive meaningful insights from your data.

5. Structure and Organization

Pay attention to the structure and organization of your dissertation. Follow a logical progression of chapters and sections, ensuring that each chapter contributes to the overall coherence of your study. Use headings, subheadings, and clear signposts to guide the reader through your work.

6. Proofread and Edit

Once you have completed the writing process, take the time to proofread and edit your dissertation carefully. Check for clarity, coherence, and proper grammar. Ensure that your arguments are well-supported, and eliminate any inconsistencies or repetitions. Pay attention to formatting, citation styles, and consistency in referencing throughout your dissertation.

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Finance Dissertation Topics

Now that you know what a finance dissertation is and why they are important, it's time to have a look at some of the best Finance dissertation topics. For your convenience, we have segregated these topics into categories, including cryptocurrency, risk management, internet banking, and so many more. So, let's dive right in and explore the best Finance dissertation topics:

Dissertation topics in Finance related to Cryptocurrency

1. The Impact of Regulatory Frameworks on the Volatility and Liquidity of Cryptocurrencies.

2. Exploring the Factors Influencing Cryptocurrency Adoption: A Comparative Study.

3. Assessing the Efficiency and Market Integration of Cryptocurrency Exchanges.

4. An Analysis of the Relationship between Cryptocurrency Prices and Macroeconomic Factors.

5. The Role of Initial Coin Offerings (ICOs) in Financing Startups: Opportunities and Challenges.

Dissertation topics in Finance related to Risk Management

1. The Effectiveness of Different Risk Management Strategies in Mitigating Financial Risks in Banking Institutions.

2. The Role of Derivatives in Hedging Financial Risks: A Comparative Study.

3. Analyzing the Impact of Risk Management Practices on Firm Performance: A Case Study of a Specific Industry.

4. The Use of Stress Testing in Evaluating Systemic Risk: Lessons from the Global Financial Crisis.

5. Assessing the Relationship between Corporate Governance and Risk Management in Financial Institutions.

Dissertation topics in Finance related to Internet Banking

1. Customer Adoption of Internet Banking: An Empirical Study on Factors Influencing Usage.

Enhancing Security in Internet Banking: Exploring Biometric Authentication Technologies.

2. The Impact of Mobile Banking Applications on Customer Engagement and Satisfaction.

3. Evaluating the Efficiency and Effectiveness of Internet Banking Services in Emerging Markets.

4. The Role of Social Media in Shaping Customer Perception and Adoption of Internet Banking.

Dissertation topics in Finance related to Microfinance

1. The Impact of Microfinance on Poverty Alleviation: A Comparative Study of Different Models.

2. Exploring the Role of Microfinance in Empowering Women Entrepreneurs.

3. Assessing the Financial Sustainability of Microfinance Institutions in Developing Countries.

4. The Effectiveness of Microfinance in Promoting Rural Development: Evidence from a Specific Region.

5. Analyzing the Relationship between Microfinance and Entrepreneurial Success: A Longitudinal Study.

Dissertation topics in Finance related to Retail and Commercial Banking

1. The Impact of Digital Transformation on Retail and Commercial Banking: A Case Study of a Specific Bank.

2. Customer Satisfaction and Loyalty in Retail Banking: An Analysis of Service Quality Dimensions.

3. Analyzing the Relationship between Bank Branch Expansion and Financial Performance.

4. The Role of Fintech Startups in Disrupting Retail and Commercial Banking: Opportunities and Challenges.

5. Assessing the Impact of Mergers and Acquisitions on the Performance of Retail and Commercial Banks.

Dissertation topics in Finance related to Alternative Investment

1. The Performance and Risk Characteristics of Hedge Funds: A Comparative Analysis.

2. Exploring the Role of Private Equity in Financing and Growing Small and Medium-Sized Enterprises.

3. Analyzing the Relationship between Real Estate Investments and Portfolio Diversification.

4. The Potential of Impact Investing: Evaluating the Social and Financial Returns.

5. Assessing the Risk-Return Tradeoff in Cryptocurrency Investments: A Comparative Study.

Dissertation topics in Finance related to International Affairs

1. The Impact of Exchange Rate Volatility on International Trade: A Case Study of a Specific Industry.

2. Analyzing the Effectiveness of Capital Controls in Managing Financial Crises: Comparative Study of Different Countries.

3. The Role of International Financial Institutions in Promoting Economic Development in Developing Countries.

4. Evaluating the Implications of Trade Wars on Global Financial Markets.

5. Assessing the Role of Central Banks in Managing Financial Stability in a Globalized Economy.

Dissertation topics in Finance related to Sustainable Finance

1. The impact of sustainable investing on financial performance.

2. The role of green bonds in financing climate change mitigation and adaptation.

3. The development of carbon markets.

4. The use of environmental, social, and governance (ESG) factors in investment decision-making.

5. The challenges and opportunities of sustainable Finance in emerging markets.

Dissertation topics in Finance related to Investment Banking

1. The valuation of distressed assets.

2. The pricing of derivatives.

3. The risk management of financial institutions.

4. The regulation of investment banks.

5. The impact of technology on the investment banking industry.

Dissertation topics in Finance related to Actuarial Science

1. The development of new actuarial models for pricing insurance products.

2. The use of big data in actuarial analysis.

3. The impact of climate change on insurance risk.

4. The design of pension plans that are sustainable in the long term.

5. The use of actuarial science to manage risk in other industries, such as healthcare and Finance.

Tips To Find Good Finance Dissertation Topics 

Embarking on a financial dissertation journey requires careful consideration of various factors. Your choice of topic in finance research topics is pivotal, as it sets the stage for the entire research process. Finding a good financial dissertation topic is essential to blend your interests with the current trends in the financial landscape. We suggest the following tips that can help you pick the perfect dissertation topic:

1. Identify your interests and strengths 

2. Check for current relevance

3. Feedback from your superiors

4. Finalise the research methods

5. Gather the data

6. Work on the outline of your dissertation

7. Make a draft and proofread it

In this blog, we have discussed the importance of finance thesis topics and provided valuable writing tips and tips for finding the right topic, too. We have also presented a list of topics within various subfields of Finance. With this, we hope you have great ideas for finance dissertations. Good luck with your finance research journey!

Frequently Asked Questions

How do i research for my dissertation project topics in finance, what is the best topic for dissertation topics for mba finance, what is the hardest finance topic, how do i choose the right topic for my dissertation in finance, where can i find a dissertation topic in finance.

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200 Unique Finance Research Topics to Impress Your Professor

In the ever-evolving landscape of finance, the quest for an exceptional research topic becomes the cornerstone of academic distinction. Are you looking for an interesting research topic that will help your finance paper stand out? You’re in luck, as we have curated a comprehensive list of 200 unparalleled topics for you to come up with an impressive idea for your assignment. While a professional  Custom writing service  the research topic on finance that we will present here will get you started on your own. Let’s dive in!

Table of Contents

Unique Finance Research Topics for You to Score Big

As we have tried our best to serve you with unique topics, choosing a research topic from these lists will help you unleash your financial prowess. Let’s get to reading the first one: 

Top Finance Research Topics or Finance Report Topics

• Merger and acquisition: an analytical study of the benefits and obstacles.
• Capital asset valuation model: possible solutions to some deficiencies.
• The impact of commodity market manipulation on future trading.
• Continuous time models: a comparative analysis of their application in various financial environments.
• How speculation undermines the stability of banking in national markets.
• Branding: its effect on consumer behavior
• Regulation of Investments of Pension Funds and Insurance Companies
• Strategic Asset Allocation for the International Reserves of the Central Bank
• Budget Independence of the Central Bank
• Financial in the Department
• Financing of the Livestock Sector in the USA and the Trust as an Alternative
• Implications of the Retirement and Pension
• Financing of Agroindustry
• Oligopolistic practices in the marking of the interest rate in the Banking System
• Non-Traditional Financing Mechanisms applicable to SMEs
• Design a cost accounting proposal for Telecommunications Companies
• Impact of the implementation of the electronic payment system
• Contribution of Microcredit to economic development through Public Banking
• Electronic Money in the process of Financial Inclusion in some countries
• Mitigation of Risks assumed by the Central Banks
• Strategic planning in the field of financial crime

The finance research paper topics we mentioned above will help you sort things out for your assignments.

Corporate Finance Research Titles

Embark on a captivating journey into corporate finance with our meticulously curated research topics . We know interesting finance topics are hard to find but today is your lucky day. Our professional essay writers will assist you to choose finance topics to write about. So, here you go: Here you go:

• Using interest rate bootstrapping to price corporate debt analysis.
• Corporate Organizations: The Impact of Independent Audits on Accountability and Transparency.
• Stock Buybacks: A Critical Look at How Companies Can Buy Back at Optimum Prices.
• Mergers and Acquisitions: Reasons Companies Overpay for Bad Acquisitions.
• Corporate Finance: Ethical Concerns and Possible Solutions
• Constraints for potential participation in tourism
• Economics and business management
• Systematic Review, Analysis, and Evaluation of Research in Corporate Finance
• Corporate governance: improving their performance.
• Valuation of the Wall Street Stock Exchange Companies
• Valuation of Companies In San Andreas
• Valuation of Companies In San Francisco
• Valuation of Companies In Las Angeles
• Valuation of Companies In New York
• Valuation of Companies In Mexico
• Bioeconomy and sustainable development goals
• Social networks and financial restrictions
• Balanced scorecard of an IT consulting company
• Proposal to improve the process of preparing and managing investment projects
• Design a strategic growth plan for the company
• Bank concentration, institutional investors and financial restrictions
• Realities and challenges: internal communications at an American Company
• How does the development of institutional investors affect the volatility of growth?
• Early entrepreneurship and financial development: a global approach
• Analysis and resolution of methodologies to estimate the share price
• Design of a management control system
• New organizational culture in the States
• Using the discounted cash flow method
• Design of an innovation management system
• Business plan for an information technology company
• Management of high-net-worth clients
• Investor behavior in multinational companies
• Redesign the formulation process and management control

These Financial and History research paper topics allows students to create unique and captivating content for their assignments. Students can start a good research in finance topics after reading our expert’s list.

Healthcare Finance Topics

Navigate the intersection of healthcare and finance with our compelling array of research topics. Here you go with the list of amazing financial research topics:

• The impact of healthcare reimbursement models on patient outcomes.
• Cost-effectiveness analysis of pharmaceutical interventions.
• Financial implications of value-based healthcare delivery.
• The role of health insurance in reducing healthcare disparities.
• Financial challenges and opportunities in telemedicine adoption.
• Financing strategies for healthcare infrastructure development.
• The economics of healthcare technology innovation.
• Analyzing the financial sustainability of public healthcare systems.
• The impact of healthcare mergers and acquisitions on costs and quality.
• Financing long-term care services for an aging population.
• Financial implications of healthcare fraud and abuse.
• Evaluating the financial viability of healthcare startups.
• The economics of healthcare workforce planning and staffing.
• Financial incentives for healthcare providers to adopt evidence-based practices.
• The role of health savings accounts (HSAs) in healthcare financing.
• Financing strategies for addressing mental health and addiction treatment.
• The economics of healthcare quality improvement initiatives.
• Analyzing the financial impact of healthcare policy reforms.
• The role of healthcare finance in supporting global health initiatives.
• Financial challenges and solutions in managing healthcare costs for chronic diseases.

Our experts have presented the best research topics in finance and healthcare for you. Students may choose the one that suits their abilities.

Business Finance Research Topics

Explore the full potential of business finance by choosing a topic for research from our carefully picked list. Here you go:

• Application of trade finance: its importance for the business sector.
• Business Modernization: Roles of Trade Finance in Business Modernization.
• Feasibility of the Implementation of a quinoa processing plant for export in the company
• Validation of the theory of return on investment in the commercial management of logistics companies
• Financial consulting unit for the implementation of information systems
• Internal control financial system
• Proposal to improve the works trust supervision process in a technical-financial consulting company
• Short-term financial planning and profitability case: Pacific Savings and Credit Cooperative
• Business plan for the launch of a financial products
• Strengthening the strategy toward value creation
• Impact of operational risk management on regulatory capital and the global capital ratio of microfinance entities
• The discounted cash flow and the real options method in the valuation of a company in the mass consumption sector
• Estimation of financial solvency to assess the risk of bankruptcy
• Participation associations are an effective tool for seeking financing
• Analysis and design of a process architecture for a small mining
• Analysis of the ROI in the commercial management of department stores
• Analysis of the evolution of the value of the industrial sector through the model of the net present value of growth options
• The impact of capital budgeting techniques on investment decisions.
• Financial risk management strategies in multinational corporations.
• The role of financial derivatives in hedging against market volatility.
• Analyzing the effectiveness of corporate governance mechanisms in mitigating agency problems.
• Financial implications of mergers and acquisitions on shareholder value.
• The relationship between corporate social responsibility and financial performance.
• The impact of corporate taxation on firm profitability and investment decisions.

Our finance topics for research business and marketing are handpicked by our experts and it allows you to bypass the lengthy processes.

International Financial Research Paper Topics

Uncover the complexities of global finance with these great research topics.

• Interaction of the USA financial system with international financial markets
• Repercussions on economic theory and policy
• The financial crisis of 2008-2011. Causes, spread, and consequences
• Effects of external shocks on the United States economy
• The economic problems in the nineties
• The debt crisis and emerging markets
• The Big Short Crises: Causes and Impact
• Crypto-currency crashes
• Exchange collapses and balance of payments crises
• First, second, and third-generation economic crisis models
• Financial crises in emerging countries
• Financial deregulation and capital flows.
• Long-term evolution, Relationship with the exchange rate regime.
• Relationship between financial flows and FDI, short and long-term.
• Push and pull factors and determinants of capital flows
• External financial markets. Eurocurrencies and Euromarkets
• The North American market
• Oil market and independency with international financial affairs
• The forward exchange markets
• Taxonomy and operation of international financial markets
• Models of external restriction and growth
• Real exchange rate and growth.
• Exchange policy in developing countries.
• Real effects of exchange rate policy.
• Currency substitution and dollarization
• Relationship between the euro and the dollar
• SME: credibility and external commitment policies as a form of stabilization
• Consequences of global monetary conditions on international prices
• Economic integration and financial integration in Europe
• The role of international reserves in the different stages of the international monetary system
• Evolution from the European Monetary System (EMS) to the single currency
• Analysis of costs and benefits
• International macroeconomic cycles and their transmission.
• Economic interdependence and coordination of monetary and exchange policies
• The strategic approach and the theory of games in the global economy
• International liquidity generation mechanisms
• The international monetary system
• The flotation bands. Theory and evidence.
• Crawling peg. Theory and evidence.
• Exchange rate administered. Theory and evidence.
• Inflation Targeting. Theory and evidence.
• Volatility and exchange rate regime
• Stabilization plans based on the exchange rate
• Costs and benefits of macroeconomic efficiency and macroeconomic flexibility
• Effects of fiscal and monetary policy.
• Nominal volatility and absolute volatility.
• The efficiency of the asset market and the premium for risk: Different ways to cover risks

Personal Financial Topics for Research

Check out our list of hand-picked personal finance topics:

• Paying debts, as well as savings and investment
• The balance between the present and the future
• How to improve personal finances
• Create a spending plan
• Salary, unemployment benefit, pension.
• Personal finance applications for mobile
• Net profit on your investments
• Plan a reduction of expenses
• Personal finance books
• Investing in Stock Exchange
• Investment in Cryptocurrencies
• Research interest rates on loans, credit cards, and similar investment instruments.
• SMEs and businesses
• Discussing the Importance of Financial protection
• Creation of capital and assets
• Financial instruments – What Do We Need to Know About Them?
• Inflation and loss of purchasing power
• Evaluation of possible saving methods with a limited budget.
• The effect of rising interest rates and inflation on personal finance.
• Define your financial goals and create a budget
• The US banks that no longer want more money from their customers
• GameStop: Amateur Investors Taking on Wall Street

Hopefully, this blog post has allowed you to explore the different aspects of finance. So get creative and choose a topic that speaks to you. When delving into how to write an 8-page paper , these carefully curated lists covering topics from corporate finance to personal finance provide all the necessary guidance and resources.

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Financial markets refers to the broad activity of buying and selling financial securities and derivatives, including bonds, equities, currencies, commodities, and other financial instruments. Changes in security valuations can affect the flow of capital through the economy, which can impact economic activity and have implications for monetary policy.

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A Brookings Institution Press and Nomura Institute of Capital Markets Research publication New financial instruments—such as structured financial products and exchange-traded funds—and new financial institutions—including hedge funds and private-equity funds—present...

New financial instruments—such as structured financial products and exchange-traded funds—and new financial institutions—including hedge funds and private-equity funds—present opportunities as well as policy and regulatory challenges in U.S. and Japanese financial markets. This book presents cutting-edge research from experts in academia and the financial industry on new instruments and new institutions while contrasting their developments in the different countries. The contributors highlight the innovative way in which Japanese financiers and government officials have learned from the U.S. regarding the introduction of new instruments into their market. New Financial Instruments and Institutions continues the productive collaboration between the Brookings Institution and the Nomura Institute of Capital Markets Research in examining current issues in capital and financial markets. Contributors include Jennifer Bethel (Babson College),Todd Broms (Managed ETFs, LLC), Frank Edwards (Columbia Business School), Allen Ferrell (Harvard Law School),Yasuyuki Fuchita (Nomura Institute of Capital Markets Research), Gary Gastineau (Managed ETFs, LLC), Ken Lehn (University of Pittsburgh), Josh Lerner (Harvard Business School), Frank Partnoy (University of San Diego Law School), Adam Posen (Institute for International Economics), Ken Scott (Stanford Law School), Steve G. Segal (Boston University, J.W. Childs Associates),Yuta Seki (Nomura Institute of Capital Markets Research, New York), Erik Sirri (Babson College), and Randall Thomas (Vanderbilt Law School).

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Yasuyuki Fuchita is a senior managing director at the Nomura Institute of Capital Markets Research in Tokyo. He is coeditor of After the Crash: The Future of Finance (2010) and Prudent Lending Restored (2009), both published by Brookings. Robert E. Litan is a senior fellow in Economic Studies at the Brookings Institution and vice president for research and policy at the Kauffman Foundation. Among his many books is Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity (Yale University Press, 2007), written with William J. Baumol and Carl J. Schramm.

A bibliographic overview of financial engineering in the emerging financial market

• REVIEW PAPERS
• Published: 14 September 2023
• Volume 14 , pages 2048–2065, ( 2023 )

Cite this article

• Jyoti Ranjan Jena 1 ,
• Saroj Kanta Biswal 1 ,
• Avinash K. Shrivastava 2 &
• Rashmi Ranjan Panigrahi   ORCID: orcid.org/0000-0002-2199-293X 3  

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Financial engineering is constantly changing and encountering new problems. Financial engineering helps us detect emerging trends and challenges, such as fintech’s effect on banking institutions or environmental change, and design novel solutions. Still, many areas remain open to exploring the contribution of FE research in finance. This study has adopted combined qualitative research approaches through bibliometric analysis. The research was conducted from 2007 to 2022. Study findings and conclusions are supported by an analysis of bibliographic coupling, co-occurrence & co-citation of 343 research publications taken from the Scopus database, and analysis was performed using software tools such as VOS-Viewer and Biblioshiny with R Studio. Based on the results of these analyses, the study was able to conclude the trends and characteristics of research on financial engineering in the financial market. The s tudy identifies prominent authors, journals, and institutions using bibliometric analysis. The current study highlighted the most cited research articles and identified the seven most emerging thematic clusters. The originality extracted from research findings compels and motivates extensive research in FE in the future. The emerging areas and themes identified from the study, i.e., (1) FE and adoption of AI & IOT Applications for RM, (2) investment decision and business crisis, and (3) recent developments and mathematical application in risk analysis. The novelty of the study lies in its focus on financial engineering in emerging financial markets, the adoption of a bibliographic overview methodology, the integration and evaluation of previous research, the identification of trends and research gaps, and its value as a resource for researchers and practitioners. These aspects make it a unique and valuable contribution to the field of financial engineering.

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Jena, J.R., Biswal, S.K., Shrivastava, A.K. et al. A bibliographic overview of financial engineering in the emerging financial market. Int J Syst Assur Eng Manag 14 , 2048–2065 (2023). https://doi.org/10.1007/s13198-023-02123-8

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Published : 14 September 2023

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DOI : https://doi.org/10.1007/s13198-023-02123-8

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250+ Exciting Accounting and Finance Project Topics: Explore All

When you’re studying accounting and finance, one big choice stands out: what project topic should you pick? This decision is super important. It affects how your research goes, how well you do in school, and even what jobs you can get later. In this blog post, we’re going to help you figure out the best accounting and finance project topics. 

The Significance of Choosing the Right Topic

Table of Contents

Before we dive into specific project topics, it’s essential to understand why selecting the right topic is crucial. The choice of your project topic can impact several aspects of your academic and professional journey.

• Firstly, a well-chosen topic aligns with your interests and passions. It allows you to delve into a subject matter that genuinely excites you. When you’re passionate about your research, you’re more likely to invest the time and effort required to excel.
• Secondly, the right topic contributes to the quality of your research. It’s essential that your project is relevant and meaningful, not just to you, but also to the broader academic and professional community. A well-selected topic has the potential to generate new insights, solutions to real-world problems, or advancements in the field.
• Lastly, your choice of topic can have career implications. It can help you build expertise in a specific area of accounting and finance, making you a sought-after candidate in the job market. Employers value individuals who have conducted in-depth research and possess specialized knowledge.

Now that we understand the importance of choosing wisely, let’s explore 10 categories of accounting and finance project topics that offer a wide range of possibilities for your research endeavors.

250+ Accounting and Finance Project Topics

25 financial analysis and reporting project topics.

• Comparative Financial Analysis: Analyzing the financial performance of two or more companies in the same industry.
• Ratio Analysis: Evaluating a company’s financial health using various financial ratios like liquidity, profitability, and solvency ratios.
• Trend Analysis: Examining the historical financial data of a company to identify trends and patterns.
• DuPont Analysis: Applying the DuPont formula to dissect a company’s return on equity (ROE) into its components.
• Earnings Quality: Investigating the quality of reported earnings and potential earnings management practices.
• Cash Flow Analysis: Assessing a company’s cash flow statement to understand its liquidity and cash management.
• Financial Statement Forecasting: Developing models to forecast future financial statements of a company.
• Credit Risk Analysis: Evaluating the creditworthiness of borrowers or companies.
• Valuation of Companies: Applying various valuation methods (e.g., DCF, comparables) to determine the intrinsic value of a company’s stock.
• Financial Distress Prediction: Building models to predict the likelihood of a company facing financial distress.
• Impacts of Accounting Standards: Investigating how changes in accounting standards affect financial reporting and analysis.
• Mergers and Acquisitions (M&A) Analysis: Analyzing the financial aspects of M&A transactions, including post-merger performance.
• Analysis of Financial Scandals: Studying high-profile financial scandals and their impact on financial reporting.
• Working Capital Management: Evaluating a company’s management of its current assets and liabilities.
• Economic Value Added (EVA) Analysis: Assessing a company’s performance based on its economic value added.
• Dividend Policy Analysis: Investigating a company’s dividend decisions and their impact on shareholder value.
• Cash Conversion Cycle Analysis: Analyzing the efficiency of a company’s cash flow cycle.
• Earnings Per Share (EPS) Analysis: Studying factors affecting EPS and its implications for investors.
• Corporate Governance and Financial Reporting: Exploring the relationship between corporate governance practices and financial reporting quality.
• Risk-Return Analysis: Assessing the trade-off between risk and return in investment portfolios.
• Environmental, Social, and Governance (ESG) Reporting Impact: Examining the influence of ESG factors on financial performance and reporting.
• IFRS vs. GAAP Comparison: Comparing financial statements prepared under International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).
• Impact of Taxation on Financial Reporting: Analyzing how tax regulations affect financial statements and reporting.
• Financial Statement Restatements: Investigating reasons for financial statement restatements and their consequences.
• Impact of Technology on Financial Reporting: Exploring the role of technology, such as AI and blockchain, in improving financial reporting accuracy and efficiency.

25 Risk Management Project Topics

• Evaluation of Risk Management Strategies in the Banking Sector
• Analysis of Credit Risk Assessment Models in Financial Institutions
• Assessing the Impact of Economic Factors on Financial Risk
• Comparative Study of Risk Management Practices in Insurance Companies
• Risk Management in the Context of Climate Change and Environmental Risks
• The Role of Cybersecurity in Risk Management for Financial Institutions
• Operational Risk Management in the Healthcare Industry
• Quantitative vs. Qualitative Approaches to Risk Assessment: A Comparative Analysis
• The Effectiveness of Enterprise Risk Management (ERM) in Multinational Corporations
• Stress Testing and Scenario Analysis in Risk Management
• Risk Management in Supply Chain and Logistics
• Assessing Market Risk in Investment Portfolios
• The Role of Risk Culture in Effective Risk Management
• Measuring and Managing Liquidity Risk in Banks
• The Impact of Regulatory Changes on Risk Management in the Financial Industry
• Credit Default Swap (CDS) and its Role in Mitigating Credit Risk
• Operational Risk Assessment in the Hospitality Industry
• Risk Management in Project Management: A Case Study Approach
• Assessing the Effectiveness of Risk Management in Start-up Businesses
• The Role of Risk Management in Healthcare Quality Improvement
• Risk Management Strategies in the Oil and Gas Industry
• The Relationship between Risk Management and Corporate Governance
• Risk Management in Information Technology Projects
• Implementing Risk Management in Non-profit Organizations
• The Impact of Geopolitical Risk on International Business Operations

25 Investment and Portfolio Management Project Topics

• Portfolio Optimization Using Modern Portfolio Theory: Analyzing the allocation of assets to maximize returns while minimizing risk.
• Performance Evaluation of Mutual Funds: Assessing the historical performance of different mutual funds and their suitability for investors.
• Factor-Based Investing Strategies: Investigating the effectiveness of factors like value, growth, and momentum in portfolio construction.
• Asset Allocation Strategies for Retirement Planning: Developing investment strategies tailored to retirement goals and risk tolerance.
• Hedging Strategies for Risk Management: Evaluating the use of derivatives and other tools to hedge against market risks.
• Real Estate Investment Analysis: Analyzing the feasibility and potential returns of real estate investments.
• Behavioral Biases in Investment Decision-Making: Studying how psychological factors influence investment choices.
• Evaluating the Impact of Economic Indicators on Stock Prices: Assessing the relationship between economic data and stock market movements.
• Impact of Dividend Policy on Stock Prices: Analyzing how a company’s dividend decisions affect its stock price.
• Value vs. Growth Investing: Comparing the performance of value and growth investment strategies over time.
• Risk-Adjusted Performance Metrics: Developing and comparing various risk-adjusted performance measures for investment portfolios.
• Impact of Interest Rate Changes on Bond Portfolios: Evaluating how interest rate fluctuations affect bond investments.
• Sustainable and ESG Investing: Analyzing the performance and impact of environmental, social, and governance (ESG) criteria in portfolio management.
• Factor Investing in Fixed Income: Exploring the application of factors in bond and fixed income portfolio strategies.
• Portfolio Diversification Across Asset Classes: Examining the benefits of diversifying across stocks, bonds, real estate, and other asset classes.
• Algorithmic Trading Strategies: Developing and backtesting algorithmic trading strategies for equities or other financial instruments.
• Impact of News and Social Media on Stock Prices: Investigating the relationship between news sentiment and stock market movements.
• Volatility Forecasting Models: Developing models to predict market volatility and its impact on portfolio risk.
• Global Portfolio Diversification: Analyzing the benefits and challenges of diversifying a portfolio internationally.
• Peer-to-Peer Lending and Investment Returns: Studying the returns and risks associated with peer-to-peer lending investments.
• Currency Risk Management for International Portfolios: Strategies to hedge currency risk in global investment portfolios.
• Alternative Investments and Portfolio Diversification: Examining the role of alternative assets like hedge funds, private equity, and cryptocurrencies in portfolio diversification.
• Risk Parity Strategies: Analyzing the risk parity approach to portfolio construction and its advantages.
• Robo-Advisors and Automated Portfolio Management: Evaluating the performance and adoption of robo-advisory services.
• Portfolio Rebalancing Strategies: Developing and testing strategies for maintaining the desired asset allocation in a portfolio.

25 Corporate Finance Project Topics

• Optimal Capital Structure Analysis: Investigate the ideal mix of debt and equity for a specific company or industry.
• Valuation of Private Companies: Explore methods for valuing privately-held businesses.
• IPO Pricing Strategies: Analyze the factors influencing initial public offering (IPO) pricing decisions.
• Dividend Policy and Shareholder Value: Examine how a company’s dividend policy affects shareholder wealth.
• Mergers and Acquisitions (M&A) Impact: Investigate the financial consequences of mergers and acquisitions on involved companies.
• Corporate Restructuring Strategies: Evaluate different strategies for corporate restructuring, such as spin-offs and divestitures.
• Capital Budgeting and Investment Analysis: Analyze the process of evaluating potential investments and capital expenditure decisions.
• Financial Risk Management: Explore methods to mitigate financial risks, such as interest rate risk or currency risk.
• Corporate Governance and Firm Performance: Investigate the relationship between corporate governance practices and financial performance.
• Financial Distress Prediction: Develop models to predict financial distress or bankruptcy for companies.
• Working Capital Management: Study strategies for optimizing a company’s working capital to improve liquidity and profitability.
• Real Options Analysis: Apply real options theory to assess strategic investment decisions in uncertain environments.
• Behavioral Finance in Corporate Finance: Explore how behavioral biases affect financial decision-making within corporations.
• Corporate Tax Planning: Investigate strategies for minimizing corporate taxes legally.
• Financial Fraud Detection: Analyze methods and tools for detecting financial fraud within organizations.
• Initial Public Offerings (IPO) Performance: Evaluate the long-term performance of companies after going public.
• Corporate Debt Issuance Strategies: Study the timing and structure of corporate bond issuances.
• Corporate Ethics and Financial Performance: Examine the impact of ethical corporate behavior on financial performance.
• Leveraged Buyouts (LBOs): Analyze the mechanics and financial implications of leveraged buyout transactions.
• Corporate Social Responsibility (CSR) Reporting: Evaluate the financial consequences of CSR initiatives and reporting.
• Credit Risk Assessment: Develop models for assessing the creditworthiness of corporate borrowers.
• Share Repurchase Programs: Study the effects of share repurchase programs on a company’s stock price and financials.
• Financial Distress and Restructuring: Analyze the financial strategies used by distressed companies for recovery.
• Corporate Debt Restructuring: Investigate the methods and implications of corporate debt restructuring.
• Environmental, Social, and Governance (ESG) Integration: Explore how ESG factors are incorporated into corporate finance decisions.

25 Financial Markets and Instruments Project Topics

1. Analysis of Stock Market Volatility

– Investigate the causes and implications of stock market volatility.

2. The Role of Derivatives in Hedging Financial Risk

– Explore how derivatives, like options and futures, are used to manage financial risk.

3. Impact of High-Frequency Trading on Financial Markets

– Study the effects of high-frequency trading on market efficiency and stability.

4. Asset Pricing Models: A Comparative Analysis

– Compare and contrast different asset pricing models, such as CAPM and APT.

5. Initial Public Offerings (IPOs) and Market Performance

– Analyze the performance of stocks after their initial public offerings.

6. Behavioral Biases in Investment Decision-Making

– Investigate how psychological biases influence investment choices.

7. The Role of Exchange-Traded Funds (ETFs) in Diversification

– Explore the benefits and drawbacks of using ETFs for portfolio diversification.

8. Cryptocurrency Market Dynamics and Investment Strategies

– Study the behavior of cryptocurrencies and develop investment strategies.

9. Impact of News and Social Media on Financial Markets

– Analyze how news and social media affect market sentiment and trading decisions.

10. Credit Default Swaps (CDS) and Credit Risk Assessment

– Examine the use of CDS in assessing and managing credit risk.

11. Role of Central Banks in Monetary Policy and Financial Stability

– Investigate the influence of central banks on financial markets and economic stability.

12. Algorithmic Trading Strategies and Their Impact

– Study various algorithmic trading strategies and their effects on market dynamics.

13. Real Estate Investment Trusts (REITs) Performance Analysis

– Analyze the performance of REITs in different economic environments.

14. Risk-Return Tradeoff in Bond Investments

– Explore the relationship between risk and return in bond investments.

15. Analysis of Commodity Markets and Investment Opportunities

– Investigate the behavior of commodity markets and potential investment strategies.

16. Role of Options in Hedging Strategies

– Study the use of options as tools for hedging against market risk.

17. Foreign Exchange Market Dynamics and Currency Forecasting

– Analyze factors influencing exchange rates and develop currency forecasting models.

18. Mutual Fund Performance Evaluation

– Evaluate the performance of mutual funds using various metrics and benchmarks.

19. Impact of Regulatory Changes on Financial Markets

– Investigate how regulatory changes affect market behavior and investor sentiment.

20. Sovereign Debt Crisis Analysis

– Study historical sovereign debt crises and their implications for financial markets.

21. Private Equity Investment Strategies and Returns

– Analyze private equity investment strategies and their potential returns.

22. Market Microstructure and Order Flow Analysis

– Explore the structure of financial markets and analyze order flow data.

23. Role of Credit Rating Agencies in Financial Markets

– Investigate the influence of credit rating agencies on investor decisions.

24. Impact of Earnings Announcements on Stock Prices

– Analyze how corporate earnings announcements affect stock prices and trading volume.

25. Financial Market Efficiency and Anomalies

– Study market efficiency theories and anomalies like the January effect or the small-cap effect.

25 Auditing and Internal Controls Project Topics

1. The Effectiveness of Internal Controls in Fraud Prevention

– Investigate how well internal controls can prevent fraudulent activities within organizations.

2. Auditing the Cybersecurity Measures in Financial Institutions

– Analyze the cybersecurity measures in financial institutions and assess their adequacy from an audit perspective.

3. Internal Audit’s Role in Corporate Governance

– Explore the contribution of internal audit in maintaining and improving corporate governance.

4. Evaluating the Impact of Data Analytics in Auditing

– Investigate how data analytics tools and techniques are transforming the audit process.

5. Assessing the Internal Control Systems of Small and Medium-sized Enterprises (SMEs)

– Study the effectiveness of internal controls in SMEs compared to larger organizations.

6. Auditing the Supply Chain: Risks and Controls

– Examine the risks associated with supply chain management and the controls needed to mitigate them.

7. The Role of Forensic Accounting in Detecting Financial Fraud

– Explore the techniques and methodologies of forensic accounting in fraud detection.

8. Compliance Audit: A Case Study on a Specific Industry

– Choose a particular industry and conduct a compliance audit to assess adherence to relevant regulations.

9. The Impact of Internal Audit on Organizational Performance

– Investigate how internal audit activities contribute to the overall performance of organizations.

10. Audit of Non-profit Organizations: Challenges and Best Practices

– Analyze the unique challenges faced by auditors when dealing with non-profit organizations.

11. Auditing Environmental, Social, and Governance (ESG) Practices

– Evaluate the integration of ESG factors in auditing and assess their impact on financial reporting.

12. IT Audit and Information Security

– Explore the intersection of IT audit and information security to ensure data protection and privacy.

13. Auditing in the Healthcare Industry

– Investigate the specific challenges and requirements of auditing in the healthcare sector.

14. Whistleblower Programs and Their Role in Enhancing Internal Controls

– Analyze the effectiveness of whistleblower programs in identifying internal control weaknesses.

15. Auditing in the Public Sector

– Examine the unique aspects of auditing in government agencies and public-sector organizations.

16. Auditing the Procurement Process: A Case Study Approach

– Choose a specific organization and audit its procurement process to identify vulnerabilities.

17. The Role of Audit Committees in Strengthening Internal Controls

– Investigate how audit committees contribute to enhancing internal controls within organizations.

18. Auditing Ethical Practices and Corporate Social Responsibility (CSR)

– Assess how ethical practices and CSR initiatives are audited and reported.

19. The Use of Artificial Intelligence (AI) in Auditing

– Explore the applications and challenges of AI in the audit process.

20. Auditor Independence and Objectivity

– Investigate the importance of auditor independence in maintaining objectivity during audits.

21. Auditing in a Global Context: International Standards and Challenges

– Analyze the challenges and opportunities of auditing in a globalized business environment.

22. Auditing Tax Compliance

– Explore the role of auditors in ensuring compliance with tax regulations.

23. Internal Controls in Financial Institutions: A Comparative Study

– Compare and contrast the internal control systems of different financial institutions.

24. Fraudulent Financial Reporting: Detection and Prevention

– Investigate the methods and tools for detecting and preventing fraudulent financial reporting.

25. Auditor Liability and Legal Issues

– Examine the legal implications and liabilities associated with auditing practices.

25 Taxation Project Topics

• The Impact of Recent Tax Reforms on Small Businesses.
• Analyzing the Effectiveness of Tax Incentives for Foreign Direct Investment.
• Tax Evasion and Its Economic Consequences: A Case Study.
• The Role of Transfer Pricing in International Taxation.
• Tax Compliance Behavior: A Behavioral Economics Approach.
• Evaluating the Impact of Tax Credits on Renewable Energy Adoption.
• Taxation and Income Inequality: A Cross-Country Analysis.
• The Effect of the Digital Economy on Taxation: Challenges and Solutions.
• Taxation of Cryptocurrency Transactions: Emerging Issues.
• Comparative Analysis of Value Added Tax (VAT) Systems Worldwide.
• Taxation of E-commerce Transactions: Jurisdictional Challenges.
• The Role of Tax Policy in Promoting Sustainable Business Practices.
• Taxation and Foreign Investment: Case Study of a Developing Economy.
• Taxation and Wealth Redistribution: Pros and Cons.
• Taxation of Multinational Corporations: Transfer Pricing Strategies.
• Taxation of Real Estate Transactions: Impact on Property Markets.
• Taxation and Economic Growth: A Longitudinal Analysis.
• Taxation of the Gig Economy: Implications for Tax Collection.
• Taxation of High-Income Earners: Progressive vs. Flat Tax Systems.
• Tax Compliance Costs for Small Businesses: An Empirical Study.
• Taxation and Charitable Giving: Incentives and Behavior.
• Tax Havens and Their Impact on Global Taxation Systems.
• Environmental Taxes and Their Role in Promoting Sustainability.
• Taxation of Cross-Border Investments: Double Taxation Agreements.
• Taxation and Innovation: Incentives for Research and Development.

25 Sustainability and Corporate Social Responsibility (CSR) Project Topics

• Assessing the Impact of Sustainable Practices on Profitability: Analyze how adopting sustainable initiatives affects a company’s bottom line.
• Measuring the Effectiveness of CSR Programs: Evaluate the outcomes and benefits of various CSR programs implemented by companies.
• Environmental Reporting and Disclosure: Investigate the transparency of companies in disclosing their environmental performance in annual reports.
• Stakeholder Engagement in CSR: Study how companies engage with stakeholders in developing and implementing CSR strategies.
• Sustainable Supply Chain Management: Assess the integration of sustainability practices in supply chain management and its impact on overall sustainability.
• Sustainability Reporting Frameworks: Compare and contrast different sustainability reporting frameworks like GRI, SASB, and IIRC.
• Impact of Sustainable Investing on Financial Markets: Analyze how sustainable investing and ESG criteria influence stock market performance.
• Sustainable Procurement Strategies: Examine how organizations can promote sustainability by implementing eco-friendly procurement practices.
• CSR in the Pharmaceutical Industry: Investigate CSR initiatives in the pharmaceutical sector, especially related to drug pricing and access to medicines.
• Renewable Energy Investment and CSR: Analyze how companies’ investments in renewable energy sources contribute to CSR and sustainability goals.
• Employee Engagement and Sustainability: Study the role of employees in driving sustainability initiatives within organizations.
• CSR and Consumer Behavior: Explore how consumers’ purchasing decisions are influenced by a company’s CSR efforts.
• Sustainable Tourism and its Economic Impact: Investigate the economic effects of sustainable tourism practices in a specific region.
• Sustainability in the Fashion Industry: Analyze the efforts of fashion brands to adopt sustainable practices in manufacturing and sourcing.
• CSR in Emerging Markets: Examine CSR practices in emerging economies and their unique challenges and opportunities.
• Sustainable Agriculture and Food Security: Study the relationship between sustainable agriculture practices and food security in a given area.
• Circular Economy Strategies: Evaluate how companies are implementing circular economy principles to reduce waste and enhance sustainability.
• CSR and Ethical Leadership: Investigate the role of ethical leadership in promoting CSR within organizations.
• Carbon Footprint Reduction Strategies: Analyze different strategies employed by companies to reduce their carbon footprint.
• CSR and Disaster Relief: Study the CSR initiatives of companies involved in disaster relief efforts and humanitarian aid.
• Social Impact Assessment of CSR Projects: Evaluate the social impact of specific CSR projects, such as community development programs or education initiatives.
• Sustainability and Green Building Practices: Examine the adoption of green building practices in the construction industry.
• CSR and Gender Equality: Investigate how companies are promoting gender equality through CSR programs and policies.
• Water Resource Management and CSR: Analyze the role of companies in sustainable water resource management and conservation.
• CSR and Small-to-Medium Enterprises (SMEs): Study the challenges and benefits of CSR adoption for SMEs and its impact on their competitiveness.

25 Financial Technology (FinTech) Project Topics

• Blockchain Technology and Its Impact on Financial Transactions
• The Rise of Cryptocurrencies: Analyzing Market Trends and Investment Strategies
• Exploring the Role of Artificial Intelligence in FinTech Applications
• Evaluating the Regulatory Challenges of Peer-to-Peer Lending Platforms
• Robo-Advisors: Revolutionizing Financial Advisory Services
• Cryptocurrency Adoption in Developing Economies: Opportunities and Challenges
• The Use of Big Data Analytics in Credit Scoring and Risk Assessment
• Security and Privacy Concerns in Mobile Payment Systems
• The Evolution of Digital Banking and Its Effects on Traditional Banking
• Decentralized Finance (DeFi): A Comprehensive Analysis
• Smart Contracts in FinTech: Applications and Implications
• FinTech and Financial Inclusion: Bridging the Gap for the Unbanked
• The Role of FinTech Startups in Shaping the Financial Services Industry
• Digital Wallets and Their Impact on Payment Ecosystems
• Tokenization of Assets: Transforming Traditional Investments
• The Future of Central Bank Digital Currencies (CBDCs)
• Cross-Border Payments and the Role of FinTech in Reducing Transaction Costs
• RegTech (Regulatory Technology): Enhancing Compliance in Financial Institutions
• Biometrics and Identity Verification in FinTech Applications
• Cybersecurity Challenges in the FinTech Sector: Threats and Mitigation Strategies
• The Gig Economy and FinTech: Financial Services for Freelancers
• FinTech and Sustainable Finance: Promoting ESG Investments
• NFTs (Non-Fungible Tokens) and Their Use Cases in FinTech
• Open Banking and API Integration: Facilitating Innovation in Financial Services
• FinTech and InsurTech: Innovations in the Insurance Industry

25 International Finance Project Topics

• Exchange Rate Volatility and Its Impact on International Trade
• Determinants of Exchange Rates: A Comparative Study
• Currency Hedging Strategies in Multinational Corporations
• The Role of Central Banks in Exchange Rate Management
• Effects of Brexit on International Financial Markets
• Global Financial Crisis: Causes, Consequences, and Lessons Learned
• International Investment and Capital Flows
• The Eurozone Crisis : Causes and Implications
• Impact of Trade Wars on Global Financial Markets
• Emerging Markets and Foreign Direct Investment (FDI)
• Sovereign Debt Crises: Case Studies and Analysis
• Exchange Rate Regimes: Fixed vs. Floating
• The Role of International Financial Institutions (IMF, World Bank)
• Globalization and Financial Integration
• The Asian Financial Crisis: Causes and Recovery
• Foreign Exchange Market Manipulation: Scandals and Regulatory Responses
• Comparative Analysis of International Banking Regulations
• The Influence of Political Risk on International Investments
• International Portfolio Diversification Strategies
• The Impact of Global Economic Trends on International Finance
• Cross-Border Mergers and Acquisitions: Challenges and Opportunities
• Financial Contagion: Spillover Effects in Global Markets
• The Role of Multinational Corporations in Global Finance
• Global Capital Markets and Access to Financing for Developing Countries
• Environmental, Social, and Governance (ESG) Factors in International Investment Decisions

How to  Craft the Perfect Accounting and Finance Project

To wrap things up, let’s talk about why picking the right project topic in accounting and finance is super important. It’s like choosing the right path for a big adventure. Your project topic sets the direction for your research journey, affecting everything you do.

A good topic isn’t just something you like; it makes your research better. It gives your work meaning, not just for you but also for others who care about accounting and finance.

Plus, your project can boost your career. It makes you an expert in a specific area, which employers love. Having deep knowledge from your project can open doors to exciting job opportunities.

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Top 140 Finance Research Paper Topics

Why finance topics? The search for interesting finance topics is a constant one. Of course, this is understandable because knowledge of hot topics in finance puts you ahead of the game. Students or researchers who major in business will, at one point or the other in their careers, make presentations, and submit research papers, essays,or help with dissertation or projects. With the headache of writing these papers aside, the challenge of picking finance topics always looms around. We have, therefore, carried out extensive research to present you with these 30 finance topics that will make your paper worth reading! When in doubt, this list of finance topics will surely come in handy to shed some light on that darkness!

Finding Excellent Topics in Finance

We offer you 30 researchable topics in finance. But why should we only catch fish for you if we can teach you how to fish too? The need to find unique topics in finance is on the increase. Here are some excellent tips that will help you choose appropriate finance topics:

• Find out unanswered questions from previous research works or develop on areas that require additional study.
• Read several theses to form ideas.
• Check economics topics . They may be more general but you can narrow down some of them.
• Search online for related topics that are unique, or make them unique to suit your purpose.
• Discuss your chosen topic with other students or people who have experience writing dissertations asking for their input.

Research Topics In Finance

In financial research, unique topics are pivotal to the overall success of the study. The reason for this is simple. Now put yourself in the shoes of professors who have read hundreds of theses and essays. They already know common topics that students like to write or work on. A hot research topic in finance will surely catch the attention of your professor and will likely earn you better grades. Writing finance research papers becomes much easier when you have superb finance research topics.

Here is a finance research topics list that will spark people’s interest in your research work and make your finance research paper worth reading! Ready for these research topics in finance? Read on!

• Merger and Acquisition: An Analytical Study of the Benefits and Set-backs.
• Capital Asset Pricing Model: Possible Solutions to its Inadequacies.
• Global Financial Crisis: A Critical Study of the Role of Auditors and Stakeholders.
• The Impact of Manipulating the Commodity Market on Future Commerce.
• Continuous-time Models: An exhaustive Comparative Analysis of its Application in Divers financial Environments.
• How Speculations Undermine the Stability of Banking in Asian Markets.
• Branding: Its Effect on Consumer Behavior.
• An effective strategy for managing inventory and controlling your budget.
• An analytical report on the various investments in tax-saving products.
• Using a systematic investment strategy to build stability for retail investments.
• How income tax is planned and implemented in India’s economy.
• A detailed analysis of how the Indian banking system operates.
• How does multi-level marketing work in different economies around the world?
• A detailed report on electronic payment and how it can be improved.
• A case study regarding senior citizen investment portfolios.
• Are there potential risks and rewards when comparing savings to investments?
• Is ratio analysis an effective component of financial statement analysis?
• How the Indian economy functions with its current banking operations.

Finance Research Topics For MBA

Here are some great finance research topics you can use toward your MBA. It’s sure to intrigue your professor and get you to look at finance from a different perspective.

• Investment analysis of a company of your choice.
• A detailed report on working capital management.
• Financial plans and considerations for saving taxes and salaried employees.
• A detailed analysis of the cost and costing models of the company of your choice.
• The awareness of investments in financial assets and equity trading preference with financial intermediaries.
• The perspective of investors and their involvement with life insurance investments.
• A detailed analysis of the perception of mutual fund investors.
• The comparative study between UIL and the traditional products.
• A detailed report on how the ABC company manages cash.

Corporate Risk Management Topics

These are some key topics you can use relating to corporate risk management.

• A detailed report on the fundamentals of corporate risk management.
• The analytical concepts relating to effective corporate and financial management within a company.
• How does corporate risk management affect the financial market and its products?
• What are risk models and how are they evaluated?
• How is market risk effectively measured and managed in today’s economy?
• How can a company be vigilant of potential credit risks they can face?
• What are the differences between operational and integrated risks in the corporate world?
• Is liquidity an effective strategy to lower financial risk to a company?
• How risk management can connect with and benefit investment management.
• The current issues that are affecting the modern marketplace and the financial risks they bring.

Healthcare Finance Research Topics

These are some key topics you can use relating to healthcare finance research.

• Is it better for the government to pay for an individual’s healthcare?
• The origins of healthcare finance.
• An analysis of Canada and their healthcare finance system.
• Is healthcare financing a right or a privilege?
• The changing policies of healthcare in the U.S.
• Can healthcare be improved in first-world countries?
• Can the healthcare system be improved or remade?
• How much influence does the government have on healthcare in a country?
• The impact of growing global health spending.
• Is free healthcare achievable worldwide?

Corporate Finance Topics

Corporate finance deals with processes such as financing, structuring of capital, and making investment decisions. It seeks to maximize shareholder value by implementing diverse strategies in long and short-term financial planning.

Corporate finance research topics broadly cover areas like tools for risk management, trend research in advanced finance, physical and electronic techniques in securities markets, research trends in advance finance, investment analysis, and management of government debt. The following corporate finance topics will surely minimize any risk of mistakes!

• Using the Bootstrapped Interest Rates to Price Corporate Debt Capital Market Instruments.
• Corporate Organizations: The Impact of Audit Independence on Accountability and Transparency.
• Buybacks: A Critical Analysis of how Firms can Buy Back at Optimal Prices.
• Merge and Acquisitions: Reasons why Firms still Overpay for bad Acquisitions.
• Corporate Finance: Ethical Concerns and Possible Solutions.
• Understanding the investment patterns relative to smaller and medium-capitalization businesses.
• A detailed analysis of the different streams of investment relating to mutual funds.
• Equity investors and how they manage their portfolios and perception of potential risks.
• How does investor preference operate in the commodity market in Karvy Stock Broking Limited?
• An analysis of the performance of mutual funds in the public and private sectors.
• Understanding how Videcon manages its working capital.
• The Visa Port trust and how it conducts ratio analysis.
• How the gold monetization scheme has affected the Indian economy and banking operations.
• How does SWIFT work and what are the potential risks and rewards?
• A detailed analysis of the FMC and SEBI merger.

Business Finance Topics

Every decision made in a business has financial implications. It is, therefore, essential that business people have a fundamental understanding of finance. To show your knowledge, you must be able to write articles on finance topics in areas such as financial analysis, valuation, management, etc. Here are some juicy business finance topics!

• Application of Business Finance: Its importance to the Business Sector.
• The Importance of Business Finance in the Establishment of Business Enterprises.
• Modernization of Business: Roles of Business Finance in Business Modernization.
• A detailed study on providing financial aid to self-help groups and projects.
• Is tax an effective incentive for selling life insurance to the public?
• Understanding how the performance of mutual funds can change within the private and public sectors.
• Is there a preference for different investment options from financial classes?
• A detailed analysis of retail investors and their preferences and choices.
• A study on investors and their perspective on investing in private insurance companies.
• How analyzing financial statements can assess a business’s performance.
• Increasing the accountability of corporate entities.
• Ethical concerns connected to business finance and how they can be managed.
• The level of tax paid by small to medium businesses.

International Finance Topics

As the world is now a global village, business transactions occur all around the world. No more are we limited to local trade, and this is why the study of international is essential and relevant. Here are some international finance topics that will suit your research purpose!

• Stock Exchange: How Important are the Functions of a Bank Office?
• Global Economic Crises: Possible Precautions to prevent Global Financial crisis.
• Bond Rating: the Effect of Changes on the Price of Stocks.
• How the Banking Industry can Decrease the Impact of Financial Crisis.
• Is it possible for a country to budget funds for healthcare for the homeless?
• The negative impact of private healthcare payments on impoverished communities.
• What sectors in healthcare require more funding at the moment?
• The dilemma of unequal access to adequate healthcare in third world countries.
• Can cancer treatment be more inexpensive to the public?
• The problem with the high pricing of medication in the U.S.
• Is there a better way to establish healthcare financing in the U.S?
• What are the benefits of healthcare finance systems in Canada and the UK?
• How can third-world countries improve their healthcare systems without hurting their economy?
• Is financing research a priority in healthcare and medicine?
• Does free healthcare hurt the tax system of a country?
• Why is free and privatized healthcare present in different economies?
• How does government funding affect healthcare finance systems?
• How do patient management systems work?
• Where does affordable healthcare financing fit in growing economies?
• The economic impact of COVID-19 in various countries.
• The healthcare policies of the Serbian government.

Finance Research Paper Ideas

Writing a research paper requires an independent investigation of a chosen subject and the analysis of the remarkable outcomes of that research. A finance researcher will, therefore, need to have enough finance research paper topics from which to choose at his fingertip. Carefully selecting a finance thesis topic out of the many finance research papers topics will require some skill. Here are some exciting finance paper topics!

• Behavioral Finance versus Traditional Finance: Differences and Similarities.
• Budgetary Controls: The Impact of this Control on Organizational performance.
• Electronic Banking: The Effect of e-Banking on Consumer Satisfaction.
• Credit and Bad Debts: Novel Techniques of management in commercial Banks.
• Loan Default: A Critical Assessment of the Impact of Loan Defaults on the Profitability of Banks.
• A detailed analysis of the best risk management methods used in the manufacturing industry.
• Identifying and measuring financial risks in a derivative marketplace.
• Exploring the potential risks that can occur in the banking sector and how they can be avoided.
• The risks that online transactions bring.
• What are the methods used to ensure quantitive risk management is achieved?
• A better understanding of policy evaluation and asset management.
• What makes traditional finance so different from behavioral?
• The significance of budgetary control in a corporate organization.
• How do loans benefit the profitability of banks?
• How do commercial banks assist their clients that are in bad debt?
• The various considerations we need to be aware of before making investment decisions.

Personal Finance Topics

Personal finance covers the aspects of managing your money, including saving and investing. It comprises aspects such as investments, retirement planning, budgeting, estate planning, mortgages, banking, tax, and insurance. Researching in this area will surely be of direct impact on the quality of living. Here are some great personal finance topics that are eager to have you work on them!

• Evaluation of Possible Methods of Saving while on a Budget.
• The Effect of Increase in Interest Rate and Inflation on Personal Finance.
• Benefits of Working from Home to both Employers and Employees.
• Will dental services be considered an essential medical service soon?
• Is affordable or free healthcare a right that everyone should be entitled to?
• The best ways to save money while on a tight budget.
• What happens to personal finance when inflation and interest rates rise?
• The financial benefits of working from home.
• Does innovations in personal finance act as an incentive for households to take risks?
• A detailed analysis of credit scores.
• The importance of credit and vehicle loans.
• A detailed analysis of employee benefits and what should be considered.
• The effect of tax on making certain financial decisions.
• The best ways to manage your credit.
• The difficulties that come with mobile banking.

Finance Topics For Presentation

Sometimes, you may need to present a topic in a seminar. The idea is that you can whet the appetite of your audience with the highlights of your subject matter. Choosing these finance seminar topics requires a slightly different approach in that you must be thoroughly familiar with that topic before giving the presentation. Interesting and easy-to-grasp finance topics are, therefore, necessary for presentations. Here are some topic examples that fit perfectly into this category.

• Analysis of the Year-over-Year Trend.
• Maximizing Pension Using Life Insurance.
• The Architecture of the Global Financial System.
• Non-communicable diseases and the burden they have on economies.
• Is there a connection between a country’s population and its healthcare budget?
• The spending capability of medical innovations in a third-world economy.
• The long-term effects of healthcare finance systems in the U.S.
• A detailed analysis of pharmaceutical marketing in eastern Europe.
• Understanding the reduction in medical expenses in Greece.
• Private payment for healthcare in Bulgaria.
• A complete change in healthcare policy worldwide. Is it necessary?
• The significance of electronic banking on the public.
• The evolution of banking and its operations.

So here we are! Surely, with this essay on finance topics that you have read, you’ll need only a few minutes to decide your topic and plunge into proper research! If you need professional help, don’t hesitate to contact our economics thesis writers .

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Research topics for finance 2023

Research topics for finance 2023.

Finance is the study of money management. The economy runs the world, and financial decisions are made on a daily basis. Currency, loans, bonds, shares, and stocks are all banked, invested, and insured. From small start-ups to large multinational corporations (MNCs), everyone needs finance expertise for insurance and tax reporting. Emerging technologies are constantly changing the way people interact with money, and financial institutions gain from block chain, artificial intelligence and machine learning, cloud banking, and robotic process automation (RPA).

Are you prepared to be on the cutting edge of knowledge? With the help of our innovative platform, Latest research Topics, stay informed and involved. We keep you abreast of developments in today's quick-paced world by bringing you the most recent Ph.D. Topics examples on a variety of domains

As finance & economics is the most in-demand subject, choosing a topic for in-depth research might be difficult. PhD Assistance may assist you in selecting a topic in finance from a broad array of application industries and study latest technology that financial sector use.

• A topic modelling approach to machine learning in finance
• Dynamic topic networks to evaluate systemic risk in financial markets
• Power dynamics in infrastructure public-private partnerships financing
• A systematic review of Fintech developments and ramifications in Islamic Finance
• A study on Risk evaluation of blockchain-powered supply chain financing research
• Impact of privatization on of banks efficiency and profitability: Role of privatisation.
• Stock prices, and cash supply cycle.
• Creating self-employment and financial independence: Contrasting micro-finance banks, micro-finance institutions and their rural support campaigns.
• CAPM validation in guessing stock values in Bombay stock exchange.
• Using the evidence from the sugar industry and related industries to know stock returns and other basic variables.
• Sales price, debt equity, book, and organization size—which of these are an apt barometer of stock exchange returns.
• Mutual funds, their attributes, their performance in the UK.
• What are the optimal debt and equity ratio in various funds?
• Stock returns on capital market investments.
• Relation between return on investment and price-earning ratio.
• A study on price-earnings ratio to guess future growth patterns.
• How dividend pay-out ratio is impacted by the factor’s effect?
• Price-earnings ratio and growth—what’s the relation?
• Studying the relation between dividends and company’s earning in wheat processing industry in the UK.
• Mutual fund’s performance indicators and size of funds.
• Automobile sector in the UK and how the capital structure is determined.
• What factors contribute to a decision on mutual fund investment?
• Forecasting stock price through a model of dividend discount. A study on building industry.
• How macroeconomic variables impact stock sector of UK.
• Mutual fund performance assessment.
• Studying the stock returns by comparing sales price, debt-equity, and book market value.
• Investment spending in the building industry and cash flow. What is the relationship?
• Studying price-earnings ratio in calculating growth
• Impact of free cash flow in a firm’s investment.
• Long-haul performance of IPO’s in the UK. An empirical analysis
• Investment policy and financial leverage.
• Future developments in financial reinforcement learning Techniques
• Structure of the board of directors and the composition’s impact on an organization’s performance.
• How taxation affects an organization’s dividend payout ratio?
• Islamic (Ijara contract) financing and its client satisfaction percentage.
• How mergers and acquisitions affect the firm’s performance in the building sector?
• Causes of changes in price to earnings ratio.
• Share price fluctuations and reasons for fluctuations.
• Stock price, economic variables such as interest rate, inflation, and GDP.
• How profitability is impacted by capital structure.
• How a banks’ profitability is affected by interest rate changes.
• The rate of inflation and stock market returns. Is there a connection?
• Stock price volatility versus Dividend policy.
• Pharma sector and what determines the capital structure.
• Stock’s returns and how it is affected by leverage?
• Factors that forecast mutual fund’s performance in the UK.
• Results of various traits that lead to acquisitions and mergers in the UK.
• Factors impacting leverage in concrete sector industry in the UK.
• How the bank’s profitability is affected by liquidity?
• Free cash flows and investment in the textile sector in the UK. Is there a connection?
• How working capital impacts a firm’s revenue and profits? Study of UK concrete sector.
• Is there a connection between capital structure and corporate strategy?
• Judging the profitability factors of Islamic banking in UAE.
• Does turnover affect inflation?
• Is the investment decision affected by dividend?
• Study of assets and liabilities in balance sheets of various firms.
• The fiscal policy’s impact on the economy of India.
• Bond market capitalization in Australia. What are the factors?
• CPI and bond price. Is there a connection?
• A literature review on Future Applications of financial instruments 2023

In conclusion, know the statistical techniques and data collection methods before deciding upon a topic.

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What Is a Financial Instrument?

Understanding financial instruments, types of financial instruments, types of asset classes of financial instruments.

• Financial Instruments FAQs

The Bottom Line

• Investing Basics

Financial Instruments Explained: Types and Asset Classes

Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT).

Katrina Ávila Munichiello is an experienced editor, writer, fact-checker, and proofreader with more than fourteen years of experience working with print and online publications.

Financial instruments are assets that can be traded, or they can also be seen as packages of capital that may be traded. Most types of financial instruments provide efficient flow and transfer of capital throughout the world’s investors . These assets can be in the form of cash, a contractual right to deliver or receive cash or another type of financial instrument, or evidence of one’s ownership in some entity.

Examples of financial instruments include stocks, exchange-traded funds (ETFs), bonds, certificates of deposit (CDs), mutual funds, loans, and derivatives contracts, among others.

Key Takeaways

• A financial instrument is a real or virtual document representing a legal agreement involving any kind of monetary value. 

Financial instruments may be divided into two types: cash instruments and derivative instruments.

• Financial instruments may also be divided according to an asset class, which depends on whether they are debt-based or equity-based.
• Foreign exchange instruments comprise a third, unique type of financial instrument.

Madelyn Goodnight / Investopedia

Financial instruments can be real or virtual documents representing a legal agreement involving any kind of monetary value. Equity-based financial instruments represent ownership of an asset. Debt-based financial instruments represent a loan made by an investor to the owner of the asset.

Foreign exchange instruments comprise a third, unique type of financial instrument. Different subcategories of each instrument type exist, such as preferred share equity and common share equity.

International Accounting Standards (IAS) define financial instruments as “any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.”

Cash Instruments

• The values of cash instruments are directly influenced and determined by the markets. These can be securities that are easily transferable. Stocks and bonds are common examples of such primary instruments .
• Cash instruments may also be deposits and loans agreed upon by borrowers and lenders . Checks are an example of a cash instrument because they transmit payment from one bank account to another.

Derivative Instruments

• The value and characteristics of derivative instruments are based on the vehicle’s underlying components, such as assets, interest rates, or indices.
• An equity options contract—such as a call option on a particular stock, for example—is a derivative because it derives its value from the underlying shares. The call option gives the right, but not the obligation, to buy shares of the stock at a specified price and by a certain date. As the price of the underlying stock rises and falls, so does the value of the option, although not necessarily by the same percentage.
• There can be over-the-counter (OTC) derivatives or exchange-traded derivatives. OTC is a market or process whereby securities—which are not listed on formal exchanges—are priced and traded.

Financial instruments may also be divided according to an asset class , which depends on whether they are debt-based or equity-based.

Debt-Based Financial Instruments

Debt-based instruments are essentially loans made by an investor to the owner of the asset. Short-term debt-based financial instruments last for one year or less. Securities of this kind come in the form of Treasury bills (T-bills) and commercial paper . Bank deposits and certificates of deposit (CDs) are also technically debt-based instruments that credit depositors with interest payments.

Exchange-traded derivatives exist for short-term, debt-based financial instruments, such as short-dated interest rate futures. OTC derivatives also exist, such as forward rate agreements (FRAs) .

Long-term debt-based financial instruments last for more than a year. Long-term debt securities are typically issued as bonds or mortgage-backed securities (MBS) . Exchange-traded derivatives on these instruments are traded in the form of fixed-income futures and options. OTC derivatives on long-term debts include interest rate swaps, interest rate caps and floors, and long-dated interest rate options.

Equity-Based Financial Instruments

Equity-based instruments represent ownership of an asset. Securities that trade under the banner of equity-based financial instruments are most often stocks , which can be either common stock or preferred shares. ETFs and mutual funds may also be equity-based instruments.

Exchange-traded derivatives in this category include stock options and equity futures.

Foreign Exchange Instruments

Foreign exchange (forex, or FX) instruments include derivatives such as forwards , futures , and options on currency pairs , as well as contracts for difference (CFDs) . Currency swaps are another common form of forex instrument. In addition, forex traders may engage in spot transactions for the immediate conversion of one currency into another.

What Are Some Examples of Financial Instruments?

Financial instruments come in many forms and types. What makes them financial instruments is that they confer a financial obligation or right to the holder . Common examples of financial instruments include stocks, exchange-traded funds (ETFs), mutual funds, real estate investment trusts (REITs) , bonds, derivatives contracts (such as options, futures, and swaps), checks, certificates of deposit (CDs), bank deposits, and loans.

Are Commodities Financial Instruments?

While commodities themselves, such as precious metals, energy products, raw materials, or agricultural products, are traded on global markets, they do not typically meet the definition of a financial instrument. That’s because they do not confer a claim or obligation over something else. But commodities derivatives are financial instruments, They include futures, forwards, and options contracts that use a commodity as the underlying asset.

Are Insurance Policies Financial Instruments?

An insurance policy is a legally binding contract established with the insurance company and policy owner that provides monetary benefits if certain conditions are met (e.g., death in the case of life insurance). If the insurer is a mutual company, the policy may also confer ownership and a claim to dividends. Insurance policies also have a specified value in terms of both the death benefit and living benefits (e.g., cash value) for permanent policies.

Insurance policies are not considered securities, but one could possibly view them as an alternative type of financial instrument because they confer a claim and certain rights to the policyholder and obligations to the insurer.

A financial instrument is effectively a monetary contract (real or virtual) that confers a right or claim against some counterparty in the form of a payment ( checks , bearer instruments ), equity ownership or dividends (stocks), debt (bonds, loans, deposit accounts), currency (forex), or derivatives (futures, forwards, options, and swaps). Financial instruments can be segmented by asset class and as cash-based, securities, or derivatives.

Depending on their type, financial instruments may be exchangeable on listed or OTC markets.

Emanuel Camilleri and Roxanne Camilleri, via Google Books. “ Accounting for Financial Instruments: A Guide to Valuation and Risk Management .” Page 62. Taylor & Francis, 2017.

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Topic: Financial Instruments

Celebrating Women in Science: Sari Blakeley

Adapted from a story written by Olga Rukovets for the State of the Planet news site. Sari Blakeley did not always dream of a career in science. In fact, when she was younger, her understanding of “science” always involved “people in lab coats pipetting liquids over a Bunsen burner.” Over time, her perspective on science […]

Automated Weather Insurance Could Offer Help in an Increasingly Hot World

July 10, 2023 — bloomberg, how is climate change limiting access to insurance, june 5, 2023 — eco-business, may 31, 2023 — context, the long-term impact of multi-season droughts on livestock holdings and pastoralist decision-making in marsabit, kenya.

• Journal: Journal of Arid Environments
• Issue: 104928
• Publisher: Elsevier
• Published: April 2004
• Categories: Financial Instruments

Max Mauerman Carson Rossa Elisabeth Ilboudo Nébié Weston Anderson Nathan Jensen Philemon Chelanga

A Framework to Assess Remote Sensing Algorithms for Satellite-Based Flood Index Insurance

• Journal: IEEE Journal of Selected Topics in Applied Earth Observations and Remote Sensing
• Publisher: IEEE
• Published: April 2023
• Categories: Earth Observation Applications, Financial Instruments

Mitchell Thomas Elizabeth Tellman Daniel E. Osgood Ben DeVries Akm Saiful Islam Michael S. Steckler Maxwell Goodman Maruf Billah

Study Findings from Columbia University Broaden Understanding of Agriculture

October 25, 2022 — insurance newsnet, an information-theoretic approach to reconciling historical climate observations and impacts on agriculture.

• Journal: Weather, Climate and Society
• Publisher: AMS
• Published: October 2022

Max Mauerman Emily Black Victoria L. Boult Rahel Diro Dan Osgood Helen Greatrex Thabbie Chillongo

Using Tech to Help African Farmers Collect Index Insurance Payouts

August 15, 2022 — columbia engineering school, voices of cs: zachary huang, may 24, 2022 — columbia university computer science.

Crowdsourcing to Build Better Insurance

In order to offer protective insurance to even greater numbers of smallholder farmers, in 2021 ACToday began testing mobile crowdsourcing apps that tap into the experiences and memories of farmers themselves.

High-Quality Historical Flood Data Reconstruction in Bangladesh Using Hidden Markov Models

• Publisher: Springer
• Published: March 2022

Max Mauerman Elizabeth Tellman Upmanu Lall Marco Tedesco Paolo Colosio Mitchell Thomas Daniel Osgood Arifuzzaman Bhuyan

Impact pathways from climate services to SDG2 (“zero hunger”): A synthesis of evidence

• Journal: Climate Risk Management
• Issue: 100399
• Publisher: ScienceDirect
• Published: January 2022
• Categories: Agriculture, Financial Instruments, Public Health

James Hansen Geneva List Shauna Downs Edward R. Carr Rahel Diro Walter Baethgen Andrew Kruczkiewicz Melody Braun John Furlow Kayla Walsh Nitin Magima

IRI at COP26 – Mélody Braun on Why COP Matters

The United Nations’ twenty-sixth Conference of the Parties, or COP26, is taking place in Glasgow, Scotland from October 30 to November 12. The COP is the largest and most important international meeting on climate change. The countries involved come together to make a number of crucial decisions to stabilize greenhouse gas emissions in order to […]

In New Project, Millions of Farmers Will Help to Improve Insurance Against Climate Disasters

This story was originally written by Kristin French and published on the State of the Planet blog. Megafires, extreme weather, locust swarms, pandemics: These are just some of the many natural disasters that have devastated farmers in recent years, destroying livelihoods and leaving hunger in their wake. Between 2008 and 2018, disasters cost the agricultural […]

Widening the Scope of Disaster Preparedness in the Caribbean: Building Resilience Through Improving Climate Information

• Journal: Small Island Developing States. The World of Small States
• Publisher: Springer, Cham.
• Published: October 2021

Dookie D.S. Osgood D.E.

Index Insurance for Madagascar’s Groundnut Farmers

by Yohana Tesfamariam Tekeste and Souha Ouni Designing financial tools and processes that help farmers bounce back from droughts and other extreme weather events is a crucial part of their strategy to adapt to longer-term climate change. The Financial Instruments Sector Team (FISTeam) of the International Research Institute for Climate and Society has been an […]

Insurance Tools for Climate Adaptation: Q&A with Rahel Diro

The world’s 570 million smallholder farmers are among the most vulnerable to the impacts of current and future climate variability and climate change. They need support and science-based strategies to make their communities resilient to these impacts and enable them to have sustainable livelihoods no matter what the climate might bring. One adaptation strategy being […]

Workshop Report: ACToday Vietnam – Fundamentals of Index Insurance Course, March 2020

• Publisher: IRI
• Published: July 2021
• Categories: ACToday, Financial Instruments, Training

Timm, Benjamin

iKON: Playing to Adapt

Climate risk instruments are designed to help farmers adapt to climate variability and change. These instruments are usually driven by data from satellites and weather stations, but these data sets can be improved over time using community-sourced observation data. Currently, such farmer data collection is limited to small-scale focus groups. However, increasing constraints on direct […]

2021 ACToday Highlight: Helping Provide Insurance to a Million Smallholder Farmers

This story was published as part of the Adapting Agriculture to Climate Today, for Tomorrow (ACToday) Columbia World Project 2021 Report. Read the full report here. Since its launch in 2017, ACToday has invested in forecasts, monitoring tools and other information products to help government agencies, humanitarian organizations and farmers better plan for droughts and […]

Improving Risk Indicators: Introducing the Next Generation Drought Index Project

Across the globe, food security continues to be a significant challenge, one that is estimated to increase with the compounding factors of the COVID-19 pandemic and climate change. The Next Generation Drought Index (NGDI) project addresses this challenge by leveraging satellite technology and drought modeling to provide humanitarian and development agencies access to the latest and most […]

Supporting interdisciplinary careers for sustainability

• Journal: Nat Sustain
• Publisher: Nature
• Published: January 2021

J. Nicolas Hernandez-Aguilera Weston Anderson Allison L. Bridges M. Pilar Fernandez Winslow D. Hansen Megan L. Maurer Elisabeth K. Ilboudo Nébié Andy Stock

Rainy Days on Mondays: Storm Proxies, Human Actions and Disaster Outcomes in the Caribbean

• Publisher: SSRN
• Published: December 2020

Denyse S. Dookie Daniel Osgood

Effects of input vouchers and rainfall insurance on agricultural production and household welfare: Experimental evidence from northern Ethiopia

• Journal: World Development
• Issue: 105074
• Published: November 2020

Ho Lun Wong Xiangdong Wei Haftom Bayray Kahsay Zenebe Gebreegziabher Cornelis Gardebroek Daniel E. Osgood Rahel Diro

Games and Fieldwork in Agriculture: A Systematic Review of the 21st Century in Economics and Social Science

• Journal: Games
• Published: October 2020

Hernandez- Aguilera, J.N.; Mauerman, M.; Herrera, A.; Vasilaky, K.; Baethgen, W.; Loboguerrero, A.M.; Diro, R.; Tesfamariam, Y.; Osgood, D.

Why predict climate hazards if we need to understand impacts? Putting humans back into the drought equation

• Journal: Climatic Change

M. Enenkel M.E. Brown J.V. Vogt J.L. McCarty A. Reid Bell D. Guha-Sapir W. Dorigo K. Vasilaky M. Svoboda R. Bonifacio M. Anderson C. Fund D. Osgood C. Hain P. Vinck

As cities bake on a warming planet, insurers cook up heatwave cover

October 5, 2020 — reuters, identifying precipitation and reference evapotranspiration trends in west africa to support drought insurance.

• Journal: Remote Sens.
• Issue: Earth Observation for Index Insurance
• Published: July 2020

Blakeley, S.L. Sweeney, S. Husak, G. Harrison, L. Funk, C. Peterson, P. Osgood, D.E.

Playing to Adapt: Crowdsourcing Historical Climate Data with Gamification to Improve Farmer’s Risk Management Instruments

• Journal: SSRN
• Vol. June 30, 2020
• Published: June 2020

J. Nicolas Hernandez-Aguilera Mauerman, Max Osgood, Daniel

Bangladesh:Climate risk insurance gets major boost

July 3, 2020 — asia insurance review.

Climate Risk Insurance for Colombia’s Smallholder Rice Farmers

The Adapting Agriculture to Climate Today, for Tomorrow (ACToday) Columbia World Project has helped create advanced and sustainable climate services around the world tailored for agricultural decision making. Countries are using these new services to manage many of the climate-related risks to their food systems. But even the best climate services by themselves cannot manage […]

ACToday Experts Take Part in Panel on Climate and Food Security

Adapted from a news story by Columbia World Projects. Scientists and other experts from the Adapting Agriculture to Climate Today, for Tomorrow (ACToday) Project, joined former New York Times journalist Andrew Revkin for an online web seminar on May 7 to discuss the intersection of food, climate and coronavirus. The event – “Feeding Humanity as […]

What happens when natural disaster strikes during a pandemic?

April 29, 2020 — ilstv.

ACToday Columbia World Project enabling insurance to reach a million farmers in Ethiopia

The Adapting Agriculture to Climate Today, for Tomorrow Columbia World Project (ACToday) has been working with its Ethiopian partners to create new climate tools for decision makers working in agriculture and food security. These investments are now directly enabling the World Food Programme (WFP) to reach its 2022 target of providing a million smallholder farmers in Ethiopia with affordable insurance against droughts and other climate risks.

Perceptions of Farm Size Heterogeneity and Demand for Group Index Insurance

• Issue: 2020
• Publisher: MDPI
• Published: March 2020

Vasilaky, K. Sáenz, S.M. Stanimirova, R. Osgood, D.

Feminist Finance with Rahel Diro

December 20, 2019 — the feminist finance podcast.

IRI@AGU: Crossing the ‘Predictability Desert’

Until recently, predicting rainfall and temperature at the subseasonal timescale (i.e. between two weeks and three months) was considered impossible. That’s beginning to change, thanks to the efforts of IRI’s Andrew Robertson, the head of IRI’s climate group and co-chair of the steering group of the Subseasonal to Seasonal (S2S) Prediction Project.  In the Q&A […]

IRI@AGU: Schedule of Events 2019

A range of IRI’s areas of expertise will be represented at this year’s annual meeting of the American Geophysical Union (AGU). Below is the schedule of IRI’s posters and presentations in sequential order. SUNDAY, DECEMBER 8 World Climate Research Programme 40th Anniversary Symposium Lisa Goddard WCRP is celebrating its 40th year of international climate science. We […]

IRI@AGU: Focusing on Floods

Often considered one of the most revolutionary technologies for climate research, remote sensing has the capacity to vastly improve the predictive strength of a wide variety of forecasting methodologies.  However, this is still a rapidly-growing field and continuing to evaluate and cross-reference remote sensing data against other data-gathering methods is necessary to improve accuracy, a […]

ACToday Q&A: J. Nicolás Hernandez-Aguilera on Coffee and Climate

IRI’s Juan Nicolás Hernandez-Aguilera discusses his research on sustainable coffee production. Originally from Colombia, his interest in the stark contrast between Colombia’s natural resource wealth and high levels of inequality, rural violence and deforestation has manifested in feeling a “responsibility to bring research toward action.”

Can disaster events reporting be used to drive remote sensing applications? A Latin America weather index insurancecase study

• Journal: Meteorological Applications
• Published: March 2019

Manuel Brahm Daniel Vila Sofia Martinez Saenz Daniel Osgood

Re/Insurance: Early “2019 hurricane forecast points to slower season if El Niño holds”

March 28, 2019 — climateer investing, can education unlock scale the demand impact of educational games on a large-scale unsubsidised index insurance programme in ethiopia.

• Journal: The Journal of development studies
• Publisher: Taylor & Francis Group
• Published: January 2019

Kathryn Vasilaky Rahel Diro Michael Norton Geoff McCarney Daniel Osgood

The Added Value of Satellite Soil Moisture for Agricultural Index Insurance

• Publisher: CRC Press
• Published: November 2017

Markus Enenkel Daniel Osgood Bristol Powell

IRI@AGU: Lessening the Impacts of Climate Shocks to Agriculture

In this video, IRI’s director, Lisa Goddard, discusses two innovations IRI has helped develop to reduce the potential impacts of droughts and extreme weather on vulnerable communities around the world: climate-based index insurance for smallholder farmers in Africa and forecast-based financing for the World Food Programme. Lisa Goddard– Climate Variability, Index Insurance & Forecast-based Financing […]

Exploiting the Convergence of Evidence in Satellite Data for Advanced Weather Index Insurance Design

• Journal: Weather, Climate, and Society
• Publisher: American Meteorological Society
• Published: July 2018

MARKUS ENENKEL DANIEL OSGOOD MARTHA ANDERSON BRISTOL POWELL JESSICA MCCARTY CHRISTOPHER NEIGH MARK CARROLL MARGARET WOOTEN GREG HUSAK CHRISTOPHER HAIN MOLLY BROWN

What Rainfall Does Not Tell Us—Enhancing Financial Instruments with Satellite-Derived Soil Moisture and Evaporative Stress

• Journal: Remote Sensing
• Published: November 2018

Markus Enenkel Carlos Farah Christopher Hain Andrew White Martha Anderson Liangzhi You Wolfgang Wagner Daniel Osgood 1

IRI@AGU: Farmers’ Perceptions as Data

As our climate continues to change, it becomes increasingly important to consider the effects this will have around the world, especially in developing countries where many small farmers already struggle.  For more than 10 years, researchers at IRI have been developing index insurance, which would provide a safety net for farmers who experience devastating climate […]

Farmer Perception, Recollection, and Remote Sensing in Weather Index Insurance: An Ethiopia Case Study

Daniel Osgood Bristol Powell Rahel Diro Carlos Farah Markus Enenkel Molly E. Brown Greg Husak S. Lucille Blakeley Laura Hoffman Jessica L. McCarty

IRI@AGU: Schedule of Events 2018

A range of IRI’s areas of expertise will be represented at this year’s annual meeting of the American Geophysical Union (AGU). Below is the schedule of IRI’s posters and presentations in sequential order. MONDAY Climate Services Research and Development: Adapting to Climate Today Lisa M Goddard is the primary convener for both a presentation and poster […]

After Ten Years of Index Insurance, What’s Next?

Despite an overabundance of food in some parts of the world, about 815 million people suffered from chronic undernourishment in 2016. Poor nutrition leads to nearly half of deaths in children under the age of five. Many of those who are hungry are farmers and their families. Our food systems clearly aren’t working as well […]

Scaling up agricultural adaptation through insurance: Bringing together insurance, big data and agricultural innovation

• Publisher: CGIAR Research Program on Climate, Agriculture and Food Security
• Published: May 2017

Hellin, Jon Hansen, James W Rose, Alison Braun, Melody

Upping Our Game: Crop Insurance Project Proves Wildly Successful

A weather index insurance tool is graduating from research project to commercial product. Using multimedia and infographics, a new story puts the technical process in the context of its real-world impact. Find out how the International Research Institute for Climate and Society’s Financial Instruments Sector team pulled it off, and how the project could be […]

The Big Idea: Farsighted Forecasts

Lisa Goddard directs Columbia’s International Research Institute for Climate and Society (IRI), which helps developing countries anticipate and manage the impacts of climate change. Columbia Magazine asked her to explain how climate scientists can predict weather patterns months in advance, and how their work is improving people’s lives. Columbia Magazine: IRI is at the forefront […]

IRI@AGU: Schedule of Events 2017

A range of IRI’s areas of expertise will be represented at this year’s annual meeting of the American Geophysical Union (AGU). One scientist will present on a tool for supporting decision making in agriculture. Another presentation focuses on improving our fundamental ability to predict tropical cyclones. Security under changing conditions is a major theme in […]

It’s Like It Never Left: Another El Niño May Be on the Way

April 13, 2017 — new york times.

New Climate Data Transforms Insurance Projects in Africa

By Dan Osgood, Lead Scientist, IRI Financial Instruments Sector Team Small farms are vulnerable to climate risk, but most smallholder farmers around the world don’t have access to insurance and other financial tools to manage fluctuations in climate. Over the past decade we’ve put a great deal of effort into a new kind of insurance–index insurance–that […]

Financial Instruments Sector Team Launches New “Trade Blog”

The Financial Instruments Sector Team has launched a new publication on Medium, called Inside Index Insurance. The purpose of the publication is to provide a range of content types from team members – from quick dispatches from activities around the world to in-depth analysis of the technical components of financial instruments. “I’ve always wanted to know more about what […]

IRI@AGU: Schedule of Events 2016

A range of IRI’s areas of expertise will be represented at this year’s annual meeting of the American Geophysical Union (AGU). Many of the presentations center on fundamental climate science, including analyses of the influence of climate variability and change on rainfall in the US, Iran, South America and the Sahel, as well as the […]

New Climate Data in Zambia Unlocks Insurance Opportunities

In mid September, IRI staff helped launch an innovative new data platform in Lusaka, Zambia that combines satellite rainfall estimates with the country’s existing network of rain gauges. The platform, developed with the Zambia Meteorological Department and through funding from NASA, is the latest to come out of IRI’s Enhancing National Climate Services (ENACTS) initiative […]

A super-nerdy insurance plan could save poor countries from damage caused by climate change

November 18, 2016 — quartz, iri report: factibilidad del uso de bases de datos climáticos para seguros de índice en américa latina.

• Published: December 2015

Osgood, Daniel

IRI Report: Feasibility of Global Weather Datasets for Index Insurance

• Published: October 2016

Bristol Powell Manuel Brahm

Remote Sensing and Index Insurance: Finding a Common Language

by Bristol Powell & Helen Greatrex, Financial Instruments Sector Team   Satellite products could give index insurance projects the scaling power they seek, but challenges remain. A workshop held earlier this year addressed these challenges head on. Index insurance is innovative, but can it reach a critical mass? Until recently, many have doubted that index insurance could scale […]

Workshop Report: Thinking Outside the Boat About Climate Change Loss and Damage.

• Publisher: Centre for International Governance Innovation
• Published: June 2016

David Estrin, CIGI Sue Vern Tan, CIGI Roger-Mark De Souza, Wilson Center Daniel Osgood, IRI Melody Braun, IRI Saleemul Huq, ICCCAD Masroora Haque, ICCCAD Dominique Souris

25,000 Insured Ethiopian Farmers Receive Payments for El Niño Droughts

By Daniel Osgood More than 25,000 insured farming families in Ethiopia have received payments for crop loss and damages after a year of devastating drought caused in large part by the 2015 El Niño. The farmers purchased the insurance through the R4 Rural Resilience Initiative [latest report], run by the World Food Program and Oxfam America. […]

Hierarchical Bayes models for daily rainfall time series at multiple locations from heterogenous data sources

• Published: 2016

Shirley, Kenneth Vasilaky, Kathryn N. Greatrex, Helen L. Osgood, Daniel E.

El Niño 2015 Conference Report

In November 2015, the International Research Institute for Climate and Society at Columbia University, in collaboration with the World Meteorological Organization, the U.S. Agency for International Development and the U.S. National Oceanic and Atmospheric Administration, convened the El Niño 2015 Conference. The report from this conference is now available. In addition to recordings and summaries of the […]

Farmers receive insurance payouts in Senegal

In Tambacounda, Senegal, small-scale farmers rely on sufficient and steady rainfall at key times of the growing season. As climate change leads to increased irregularity and intensity of rainfall events, the adaptation strategies employed by farmers to cope with shocks do not always suffice. The fear of poor productivity in a year often prevents them from […]

IRI@AMS 2016: Schedule of Events

From crowd-sourcing tornado data to teaching Harlem high-school students about climate change and climate justice, IRI scientists will be sharing a number of fascinating projects at the annual meeting of the American Meteorological Society (AMS) next week in New Orleans.  Below is a schedule of their presentations and posters. Presenting authors appear in bold. Crowd-Sourcing the Storm: A New […]

VIDEO: What tools do Honduran farmers want for climate risk?

Text by Sofía Martínez Video by Elisabeth Gawthrop, Sofía Martínez and Courtney St. John Answers from insurance research La version en español esta disponible aquí.  During the first of the two growing seasons of 2015, grain farmers in El Paraíso, Honduras faced one of the worst droughts in history, with losses ranging from 60 to 100% […]

¿Cuáles herramientas quieren los productores hondureños para el riesgo climático?

Texto por Sofía Martínez Video por Elisabeth Gawthrop, Sofía Martínez and Courtney St. John Respuestas de la investigación English version available here.  Durante las dos temporadas agrícolas del 2015, los productores de granos básicos de El Paraíso, Honduras se enfrentaron a una de las peores sequías en la historia, con pérdidas desde un 60 hasta […]

IRI@AGU: Schedule of Events 2015

The IRI has seven scientists and staff presenting on a wide range of topics at the American Geophysical Union (AGU) Meeting this year. Andrew Robertson and Alexis Berg will present advancements in our fundamental understanding of earth’s systems. Eunjin Han, Pietro Ceccato and Pradipta Parhi will discuss methods for using our climate knowledge for applications in agriculture, health and […]

Climate Resilience (Animation)

Climate resilience: it’s the ability for communities to recover from the impacts of climate events. It’s the difference between weather being manageable…or a catastrophe. But for many parts of the world, where livelihoods depend so much on the climate, critical weather and climate information is unavailable or unusable. The International Research Institute for Climate and […]

IRI @ Climate Week NYC 2015

Staff members from the International Research Institute for Climate and Society (IRI) are participating in a number of high-level events during Climate Week NYC  this year. See the schedule below, and follow the links for more information. Launch of the Global Nutrition Report Tuesday, September 22 5:00 pm – 8:00 pm, Hearst Building, New York Climate change is complicating global efforts […]

VIDEOS: A Host of Visitors

A walk through the International Research Institute for Climate and Society is often punctuated by the sounds of French, Spanish and other languages drifting through the halls. Our international staff contributes to this, but usually it’s a sign that we are hosting visitors for training and collaborations. Despite the increasing online connectedness of our world, […]

Weather-based insurance ‘could benefit smallholders’

February 10, 2015 — scidevnet, study: weather-based insurance benefits farmers, february 5, 2015 — voice of america, millions of poor farmers to benefit from new type of insurance – study, january 30, 2015 — reuters, january 29, 2015 — reuters, 2 million african farmers insured for weather & catastrophe risks: swiss re, january 29, 2015 — artemis, weather index insurance – a powerful tool against hunger, january 28, 2015 — all africa, climate-linked insurance could help poor farmers offset crop failure risk, january 27, 2015 — al jazeera.

New Study Proves Weather-Based Index Insurance Can Work For Rural Poor on Large Scale

Findings spur Nigerian government to look into solutions to cover 15 million farmers by 2017 LONDON, UNITED KINGDOM (26 January 2015) — Nigerian government officials will convene in London this week to gather advice for scaling-up agricultural insurance policies for smallholder farmers, to bolster the up and coming agricultural powerhouse’s resilience to climate and market shocks. The meeting […]

Scaling up index insurance for smallholder farmers: Recent evidence and insights.

• Publisher: CGIAR Research Program on Climate Change, Agriculture and Food Security
• Published: January 2015
• Categories: Agriculture, Financial Instruments

Greatrex Helen Hansen James W Garvin Samantha Diro Rahel Blakeley Sari Le Guen Margot Rao Kolli N Osgood, Daniel E

VIDEO: Designing Insurance with Dominican Dairy Producers

Over the last year, the financial instruments sector team at IRI has been working in the Dominican Republic to design an index insurance product for the country’s dairy producers. This work has been part of the Climate Resiliency and Index Insurance Program (CRII), funded by the USAID office in the Dominican Republic. In a new video, we show how researchers […]

Remote sensing for index insurance: innovations in smallholder risk management

December 12, 2014 — ifad social reporting blog.

IRI@AGU: Schedule of Events

The IRI has a record thirteen scientists and staff presenting at the American Geophysical Union (AGU) Meeting this year. Below is the schedule of events for those presenting, organized by theme and with links to additional information about their research.  CLIMATE & HEALTH Climate and Population Health Vulnerabilities to Vector-Borne Diseases: Increasing Resilience Under Climate […]

Weather Index Insurance and Common Property Resources

• Journal: Agricultural and Resource Economics Review
• Publisher: NAREA
• Published: December 2014

Bhattacharya, H. D.E. Osgood

Insurance and Adaptation: Farmer Driven Opportunities (Video)

The Financial Instruments Sector team at the International Research Institute for Climate and Society works with farmers, development organizations and agencies, insurance companies and other research institutes to design insurance products that are tailored to local and regional climate risks and economic systems. With the help of the Center for Research on Environmental Decisions, we’ve produced this video […]

US Investments in International Climate Research and Applications: Reflections on Contributions to Interdisciplinary Climate Science and Services, Development, and Adaptation

• Journal: Earth Perspectives
• Published: June 2014
• Categories: Climate, Financial Instruments

Lisa Vaughan John Furlow Wayne Higgins Claudia Nierenberg Roger Pulwarty

Climate Week Panel: Building Innovative Index Insurance Markets

First Climate Week Panel To Focus On Building Innovative Index Insurance Markets in Developing Countries NEW YORK, September 18, 2014 — A panel of leaders and experts from the business, humanitarian and research communities will convene this week at the Climate Week NYC to discuss the growing relevance of index insurance as a tool to […]

Join us for Climate Week NYC 2014

The International Research Institute for Climate and Society (IRI) is co-hosting several events during Climate Week NYC 2014. See the schedule of IRI events below, and follow the links for more information. If you are a member of the media and would like to attend any of the events, please write to media @ iri.columbia.edu. Sustaining Health Linking Environment, […]

Drought Insurance for Ganaderos in the Dominican Republic

By Sofía Martínez, Radost Stanimirova and Daniel Osgood Since January, the northwestern Dominican Republic has experienced one of the worst droughts in 15 years. Early work by the International Research Institute for Climate and Society and its partners on a project funded by the United States Agency for International Development has shown the potential for using […]

Factsheet: Climate-Resilient Farming

Farmers in Central America and the Caribbean are highly vulnerable to the impacts of a changing and variable climate. Current and projected changes in temperature, precipitation and the frequency of droughts, hurricanes and other extreme events threaten the region’s ability to meet goals for food security and economic growth. Farmers here typically lack access to timely, […]

Seeing More with Satellites: Improving Insurance for African Farmers

By Bristol Mann and Radost Stanimirova A group of climate scientists, economists and remote sensing experts from the International Research Institute for Climate and Society and NASA’s Goddard Space Flight Center are collaborating to help solve a longstanding issue in the development of agriculture insurance programs in Africa: how to generate enough quality environmental data […]

IRI and U. of Arizona Team Up for Climate

IRI and the University of Arizona address climate vulnerability in most at-risk areas of the world in new project The Caribbean, Asia’s Indo-Gangetic Plain and West Africa are three regions known to be extremely vulnerable to climate variability and change, particularly to droughts, extreme weather events and stresses on food production, water resources and coastal areas. A […]

Evidence of Demand for Index Insurance: Experimental Games and Commercial Transactions in Ethiopia

• Journal: Journal of Development Studies
• Publisher: Taylor & Francis
• Published: May 2014

Michael Norton Daniel Osgood Malgosia Madajewicz Eric Holthaus Nicole Peterson Rahel Diro Conner Mullally Tse-Ling Tehg Mengesha Gebremichaelh

Online Crop Calendar Helps Indonesian Government Manage Climate Risk

The International Research Institute for Climate and Society and the Center on Globalization and Sustainable Development at Columbia University are collaborating with the Centre for Climate Risk and Opportunity Management in Southeast Asia Pacific at Institut Pertanian Bogor (IPB – Bogor Agriculture University) in Indonesia to help farmers cope with droughts, fires and other climate impacts. The project, called “CU-IPB […]

Ganaderos confían en nuevo producto Seguro de Índice de Sequía

February 6, 2014 — fundación reddom, seguro de índice sequía se venderá a partir de octubre 2014, january 31, 2014 — fundación reddom, capacitan a ganaderos para enfrentar sequía, january 29, 2014 — periódico listín diario, presidente fedegano valora esfuerzo superar sequías auspiciado por usaid y reddom, january 28, 2014 — fundación reddom, ganaderos participarán de un simulacro de funcionamiento del primer seguro de índice de sequía, january 27, 2014 — periódico la información, ganaderos participarán en un simulacro sobre índice de sequía, january 27, 2014 — periódico hoy, using satellites to make index insurance scalable: final iri report to the international labour organisation – microinsurance innovation facility.

• Published: October 2013

Radost Stanimirova Helen Greatrex Rahel Diro Geoff McCarney Jessica Sharoff Bristol Mann Anthony Louis D’Agostino Marshall Rogers-Martinez Sarah Blakeley Christopher Small Pietro Ceccato Tufa Dinku Daniel E. Osgood

A call to action: building an index insurance community in Bangladesh

October 9, 2013 — cgiar research program on climate change, agriculture and food security .

Insuring 37,000 Rwandan Farmers Against Drought

Index insurance can lower the cost of insurance, allowing smallholder farmers to buy insurance that can help them withstand the impacts of bad years and risk making productive investments in good years. A key component of index insurance is historical data – often temperature or rainfall data – to use as a basis for creating an index that determines when insurance payouts […]

An Index Insurance Primer

IRI has put together a list of Frequently Asked Questions for the US Agency for International Development about index insurance and how it is being used in development and adaptation projects around the world. Download the FAQ or click on the image. If you’re looking for even more resources on index insurance, head over to our Financial […]

Interview with Dr Lisa Goddard, Director, International Research Institute for Climate and Society

July 26, 2013 — international innovation, responsibility in index insurance: the importance of a solid science base for farmer-driven design.

• Journal: Proceeding of Workshop: The challenges of index-based insurance for food security in developing countries
• Publisher: Publications Office of the European Union
• Published: June 2013

Osgood, Daniel E

The challenges of index-based insurance for food security in developing countries

Gommes, René Kayitakire, François

Climate at Different Spatial and Temporal Scales

Lyon, Bradfield

Capturing the Spatial Variability of Rainfall in Weather-Based Index Insurance

Greatrex, Helen Grimes, David I. F.

Paleoclimate histories improve access and sustainability in index insurance programs

• Journal: Global Environmental Change
• Published: March 2013

Andrew R. Bell Daniel Osgood Benjamin I. Cook Kevin J. Anchukaitis Geoffrey McCarney Arthur Greene Brendan M. Buckley Edward R. Cook

USAID impulsará seguro para agricultores

February 12, 2013 — diario lider, usaid y reddom impulsarán seguro agrícola indexado para recuperar daños por cambio climático, february 11, 2013 — la nación dominicana.

Poor Ethiopian Farmers Receive “Unprecedented” Insurance Payout

Oxfam America and The Rockefeller Foundation announced a weather index insurance payout of unprecedented scale directly to poor farmers. Thanks to a groundbreaking new program that relies on advanced satellite technology, more than 12,200 farmers in 45 villages in Northern Ethiopia will benefit from drought protection. As a result of this year’s drought conditions each […]

African Small Scale Farmers Insurance Payout Triggered by Satellite Technology

December 11, 2012 — africa science news, breaking the poverty trap in ethiopia: subsistence, satellites, and some other important stuff.

Subsistence Two acres of cracked earth. In northern Ethiopia, it can be a trap that keeps farmers tethered to it for generations. Or it can be a springboard to a better life for this and future generations. What impedes it from showing its springier qualities? You could argue the biggest pressure on the land comes […]

The Advantages of Resource Queues over Spot Resource Markets: Decision Coordination in Experiments under Resource Uncertainty

• Journal: American Journal of Agricultural Economics
• Publisher: Oxford University Press
• Published: August 2012

Miguel A. Fonseca Alexander Pfaff Daniel Osgood

About time: An integrative approach to effective environmental policy

David J. Hardisty Ben Orlove David H. Krantz Arthur A. Small Kerry F. Milch Daniel E. Osgood

Index Insurance, Production Practices, and Probabilistic Climate Forecasts

• Journal: Journal of Risk and Insurance
• Publisher: Wiley
• Published: March 2012

Miguel A. Carriquiry Daniel E. Osgood

A model for improving climate services in Africa

In developed countries, we are accustomed to having access to long and detailed records on weather and climate conditions, demographics, disease incidence and many other types of data. Decision makers use this information for a variety of societal benefits: they spot trends, fine-tune public health systems and optimize crop yields, for example. Researchers use it […]

The Value of Information in Index Insurance for Farmers in Africa

• Published: 2012

Daniel Osgood Kenneth E. Shirley

Insuring Against Drought

In our latest video interview, research economist Dan Osgood discusses index insurance and how it is helping some poor rural communities reduce hardships caused by drought in East Africa: These products are becoming available to people for the first time at larges scales just this year. Given the difficulties of these [two] years, the farmers […]

How Do Homebuyers Value Different Types of Green Space?

• Journal: Journal of Agricultural and Resource Economics
• Published: August 2011

Rosalind H. Bark Daniel E. Osgood Bonnie Colby Eve B. Halper

IRI Technical Report 11-03: HARITA IRI Report to Oxfam America: Final Report for General IRI Capacity Building and Technical Support for HARITA Micro-Insurance Scale up (Re: ETH 018 /10)

• Journal: IRI Technical Report
• Publisher: International Research Institute for Climate and Society
• Published: May 2011

Osgood, D. Sharoff, J. Holthaus, E. McLaurin, M. Norton, M.

IRI Technical Report 10-10: Annex – Index Insurance and Climate Risk. Prospects for Development and Disaster Management

• Published: August 2010

Osgood, D. Hellmuth, M. (eds)

IRI Technical Report 10-09: Technical Annex: HARITA IRI Report to Oxfam America – Interim Report deliverable for GLO 002/10: General IRI Planning and Technical Support for Harita Micro-Insurance Pilot – June 2010

• Published: June 2010

Chen, J. Dinku, T. Holthaus, E. Lyon, B. Madajewicz, M. Mullaly, C. Norton, M. Osgood, D. Pascualini, A. Pant, S. Peterson, N. Saavedra, R. Sharoff, J. Shirley, K. E. Small, C. Stiffel, S. The, T.-L.

IRI Technical Report 10-08: HARITA IRI Report to Oxfam America. Final Report for IRI MIEL Planning & Technical Support for HARITA Micro-Insurance Pilot USA 536 / 09. June 2010.

Chen, J. Dinku, T. Holthaus, E. Lyon, B. Madajewicz, M. Mullaly, C. Norton, M. Osgood, D. Pascualini, A. Pant, S. Peterson, N. Saavedra, R. Sharoff, J. Shirley, K. E. Small, C. Stiffel, S. Teh, T.-L.

Clima y Sociedad No. 2: Seguros en base a indices climaticos y riesgo climatico: Perspectivas para el desarrollo y la gestion de desastres

• Journal: IRI Climate and Society Series
• Published: March 2010

Hellmuth, M. Osgood, D. Hess, U. Moorhead, A. Bhojwani, H.

Disease Forecasts and Livestock Health Disclosure: a Shepherd’s Dilemma

• Journal: American Journal of Agricultural Economic
• Publisher: Agricultural and Applied Economics Association
• Published: February 2010

Sheriff, G. D. Osgood.

Contributions of Agricultural Systems Modeling to Weather Index Insurance

• Published: 2010

Baethgen, W.E.; Hansen, J. W.; Ines, A.V.M.; Jones, J. W.; Meinke, H; Steduto, P.

Long-term Impacts of Droughts on Labour Markets in Developing Countries: Evidence from Brazil

• Journal: The Journal of Development Studies
• Published: October 2009

Valerie A. Mueller Daniel E. Osgood

Leaders in index insurance expand their commitments in Ethiopia

Swiss Re, Oxfam America, The Rockefeller Foundation and Columbia University’s International Research Institute for Climate and Society announced a joint Commitment to Action at the Clinton Global Initiative 2009 meeting in New York, held from September 22 to 25. The collaboration is aimed at helping communities most vulnerable to climate variability and change. It will […]

Long-Term Consequences of Short-Term Precipitation Shocks: Evidence from Brazilian Migrant Households

• Journal: Agricultural Economics
• Published: September 2009

Valerie Mueller Daniel Osgood

IRI Technical Report 09-04. Designing Index-Based Weather Insurance for Farmers in Adi Ha, Ethiopia. Report to OXFAM America

• Published: August 2009

Dinku, T. Giannini, A. Hansen, J. Holthaus, E. Ines, A. Kaheil, Y. Karnauskas, K. Lyon, B. Madajewicz, M. Mclaurin, M. Mullally, C. Norton, M. Osgood, D. Peterson, N. Robertson, A. Shirley, K. Small, C. Vicarelli, M.

Index insurance for development and disaster management

Para Espanol: Seguro ‘parametrico’ y reduccion de la pobreza Pour Francais: Une assurance particuliere pour la gestion des risques climatiques Climate has always presented a challenge to farmers, herders, fishermen and others whose livelihoods are closely linked to their environment, particularly those in poor areas of the world. A type of insurance called index insurance […]

Climate and Society No. 2. Index insurance and climate risk: propects for development and disaster management

• Published: June 2009

Habitat preservation and restoration: Do homebuyers have preference for quality habitat?

• Journal: Ecological Economics
• Published: March 2009

Bark-Hodgkins, R.H. Osgood, D. E. Colby, B.G. Katz, G. Stromberg, J.

IRI Technical Report 09-01. Designing Index-Based Weather Insurance for Farmers in Central America

Giannini, A. Hansen, J. Holthaus, E. Ines, A. Kaheil, Y. Karnauskas, K. McLaurin, M. Osgood, D. Robertson, A. Shirley, K. Vicarelli, M.

Managing hydroclimatological risk to water supply with option contracts and reservoir index insurance

• Journal: Water Resources Research
• Publisher: American Geophysical Union
• Published: November 2007

Brown, C. Carriquiry, M.

Designing Weather Insurance Contracts for Farmers in Malawi, Tanzania and Kenya, Final report to the Commodity Risk Management Group, ARD,World Bank

• Published: June 2007

Osgood, Daniel E. McLaurin, Megan Carriquiry, Miguel Mishra, Ashok Fiondella, Francesco Hansen, James W. Peterson, Nicole Ward, M. Neil

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Publications on Fiscal policy

The causes of pandemic inflation, seven replies to the critiques of modern money theory, what is mmt’s state of play in washington, keynes’s theories of the business cycle, evolution and contemporary relevance, budget credibility of subnational governments, analyzing the fiscal forecasting errors of 28 states in india, debt management and the fiscal balance, fiscal policy in argentina, brazil, and mexico and the 2030 agenda for sustainable development, greece: in search of investors, statement of senior scholar l. randall wray to the house budget committee, us house of representatives, reexamining the economic costs of debt, indian fiscal federalism at the crossroads, some reflections, challenges to indian fiscal federalism.

Rethinking China’s Local Government Debt in the Frame of Modern Money Theory

Fiscal stabilization in the united states, lessons for monetary unions, can redistribution help build a more stable economy, macroeconomic policy effectiveness and inequality, efficacy of gender budgeting in asia pacific, two harvard economists on monetary economics, lauchlin currie and hyman minsky on financial systems and crises, unconventional monetary policies and central bank profits, seigniorage as fiscal revenue in the aftermath of the global financial crisis, an alternative to sovereign bond-backed securities for the euro area, european sovereign bond-backed securities, an assessment and an alternative proposal, “america first,” fiscal policy, and financial stability, corporate tax incidence in india, the concert of interests in the age of trump, inequality update: who gains when income grows, fiscal policy, economic growth and innovation, an empirical analysis of g20 countries.

This paper analyzes the effectiveness of public expenditures on economic growth within the analytical framework of comprehensive Neo-Schumpeterian economics. Using a fixed-effects model for G20 countries, the paper investigates the links between the specific categories of public expenditures and economic growth, captured in human capital formation, defense, infrastructure development, and technological innovation. The results reveal that the impact of innovation-related spending on economic growth is much higher than that of the other macro variables. Data for the study was drawn from the International Monetary Fund’s Government Finance Statistics database, infrastructure reports for the G20 countries, and the World Development Indicators issued by the World Bank.

Brazil Still in Troubled Waters

Since inheriting the Brazilian presidency five months ago, the new Temer administration has successfully ratified a constitutional amendment imposing a radical, two-decades-long public spending freeze, purportedly aimed at sparking an increase in business confidence and investment. In this policy brief, Fernando Cardim de Carvalho explains why this fiscal strategy is based not only on a flawed conception of the drivers of private-sector confidence and investment but also on a mistaken view of the roots of the current Brazilian economic crisis. The hoped-for “expansionary fiscal consolidation” is not likely to be achieved.

The Short- and Long-run Inconsistency of the Expansionary Austerity Theory

A post-keynesian/evolutionist critique.

This paper provides a critical analysis of expansionary austerity theory (EAT). The focus is on the theoretical weaknesses of EAT—the extreme circumstances and fragile assumptions under which expansionary consolidations might actually take place. The paper presents a simple theoretical model that takes inspiration from both the post-Keynesian and evolutionary/institutionalist traditions. First, it demonstrates that well-designed austerity measures hardly trigger short-run economic expansions in the context of expected long-lasting consolidation plans (i.e., when adjustment plans deal with remarkably high debt-to-GDP ratios), when the so-called “financial channel” is not operative (i.e., in the context of monetarily sovereign economies), or when the degree of export responsiveness to internal devaluation is low. Even in the context of non–monetarily sovereign countries (e.g., members of the eurozone), austerity’s effectiveness crucially depends on its highly disputable capacity to immediately stabilize fiscal variables.

The paper then analyzes some possible long-run economic dynamics, emphasizing the high degree of instability that characterizes austerity-based adjustments plans. Path-dependency and cumulativeness make the short-run impulse effects of fiscal consolidation of paramount importance to (hopefully) obtaining any appreciable medium-to-long-run benefit. Should these effects be contractionary at the onset, the short-run costs of austerity measures can breed an endless spiral of recession and ballooning debt in the long run. If so, in the case of non–monetarily sovereign countries debt forgiveness may emerge as the ultimate solution to restore economic soundness. Alternatively, institutional innovations like those adopted since mid-2012 by the European Central Bank are required to stabilize the economy, even though they are unlikely to restore rapid growth in the absence of more active fiscal stimuli.

Measuring Poverty in the Case of Buenos Aires

Why time deficits matter.

We describe the production of estimates of the Levy Institute Measure of Time and Income Poverty (LIMTIP) for Buenos Aires, Argentina, and use it to analyze the incidence of time and income poverty. We find high numbers of hidden poor—those who are not poor according to the official measure but are found to be poor when using our time-adjusted poverty line. Large time deficits for those living just above the official poverty line are the reason for this hidden poverty. Time deficits are unevenly distributed by employment status, family type, and especially gender. Simulations of the impact of full-time employment on those households with nonworking (for pay) adults indicate that reductions in income poverty can be achieved, but at the cost of increased time poverty. Policy interventions that address the lack of both income and time are discussed.

The Narrow Path for Brazil

Brazil is mired in a joint economic and political crisis, and the way out is unclear. In 2015 the country experienced a steep contraction of output alongside elevated inflation, all while the fallout from a series of corruption scandals left the policymaking apparatus paralyzed. Looking ahead, implementing a policy strategy that has any hope of addressing the Brazilian economy’s multilayered problems would make serious demands on a political system that is most likely unable to bear it.

What We Could Have Learned from the New Deal in Confronting the Recent Global Recession

Completing the single financial market and new fiscal rules for the euro area, redistribution in the age of austerity, evidence from europe, 2006–13.

We examine the relationship between changes in a country’s public sector fiscal position and inequality at the top and bottom of the income distribution during the age of austerity (2006–13). We use a parametric Lorenz curve model and Gini-like indices of inequality as our measures to assess distributional changes. Based on the EU’s Statistics on Income and Living Conditions SLIC and International Monetary Fund data for 12 European countries, we find that more severe adjustments to the cyclically adjusted primary balance (i.e., more austerity) are associated with a more unequal distribution of income driven by rising inequality at the top. The data also weakly suggest a decrease in inequality at the bottom. The distributional impact of austerity measures reflects the reliance on regressive policies, and likely produces increased incentives for rent seeking while reducing incentives for workers to increase productivity.

The ECB, the Single Financial Market, and a Revision of the Euro Area Fiscal Rules

Mario Tonveronachi, University of Siena, builds on his earlier proposal ( The ECB and the Single European Financial Market ) to advance financial market integration in Europe through the creation of a single benchmark yield curve based on debt certificates (DCs) issued by the European Central Bank (ECB). In this policy brief, Tonveronachi discusses potential changes to the ECB’s operations and their implications for member-state fiscal rules. He argues that his DC proposal would maintain debt discipline while mitigating the restrictive, counterproductive fiscal stance required today, simultaneously expanding national fiscal space while ensuring debt sustainability under the Maastricht limits, and offering a path out of the self-defeating policy regime currently in place.

Is Monetary Financing Inflationary?

A case study of the canadian economy, 1935–75.

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost demand and/or relieve debt burdens. We find little empirical evidence to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models of inflationary monetary financing rest upon inaccurate conceptions of the modern endogenous money creation process. This paper presents a counter-example in the activities of the Bank of Canada during the period 1935–75, when, working with the government, it engaged in significant direct or indirect monetary financing to support fiscal expansion, economic growth, and industrialization. An institutional case study of the period, complemented by a general-to-specific econometric analysis, finds no support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit monetary financing to boost highly indebted economies and a more general rethink of the dominant New Macroeconomic Consensus policy framework that prohibits monetary financing.

Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, Second Edition

By l. randall wray.

In a completely revised second edition, Senior Scholar L. Randall Wray presents the key principles of Modern Money Theory, exploring macro accounting, monetary and fiscal policy, currency regimes, and exchange rates in developed and developing nations. Wray examines how misunderstandings about the nature of money caused the recent global financial meltdown, and provides fresh ideas about how leaders should approach economic policy. This updated edition also includes new chapters on tax policies and inflation.

Published by: Palgrave Macmillan

Is a Very High Public Debt a Problem?

This paper has two main objectives. The first is to propose a policy architecture that can prevent a very high public debt from resulting in a high tax burden, a government default, or inflation. The second objective is to show that government deficits do not face a financing problem. After these deficits are initially financed through the net creation of base money, the private sector necessarily realizes savings, in the form of either government bond purchases or, if a default is feared, “acquisitions” of new money.

Inside Money in a Kaldor-Kalecki-Steindl Fiscal Policy Model

The unit of account, inflation, leverage, and financial fragility.

We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky’s financial fragility hypothesis. This approach to modeling Minsky may be unique in the formal Minskyan literature. Namely, we adopt a model in which a psychological variable we call financial prudence ( P ) declines over time following a financial crash, driving a cyclical buildup of leverage in household balance sheets. High leverage or a low safe-asset ratio in turn induces high financial fragility ( FF ). In turn, the pathways of FF and capacity utilization ( u ) determine the probabilistic risk of a crash in any time interval. When they occur, these crashes entail discrete downward jumps in stock prices and financial sector assets and liabilities. To the endogenous government liabilities in Hannsgen (2014), we add common stock and bank loans and deposits. In two alternative versions of the wage-price module in the model (wage–Phillips curve and chartalist, respectively), the rate of wage inflation depends on either unemployment or the wage-setting policies of the government sector. At any given time t , goods prices also depend on endogenous markup and labor productivity variables. Goods inflation affects aggregate demand through its impact on the value of assets and debts. Bank rates depend on an endogenous markup of their own. Furthermore, in light of the limited carbon budget of humankind over a 50-year horizon, goods production in this model consumes fossil fuels and generates greenhouse gases.

The government produces at a rate given by a reaction function that pulls government activity toward levels prescribed by a fiscal policy rule. Subcategories of government spending affect the pace of technical progress and prudence in lending practices. The intended ultimate purpose of the model is to examine the effects of fiscal policy reaction functions, including one with dual unemployment rate and public production targets, testing their effects on numerically computed solution pathways. Analytical results in the penultimate section show that (1) the model has no equilibrium (steady state) for reasons related to Minsky’s argument that modern capitalist economies possess a property that he called “the instability of stability,” and (2) solution pathways exist and are unique, given vectors of initial conditions and parameter values and realizations of the Poisson model of financial crises.

When a Rising Tide Sinks Most Boats

Trends in us income inequality, minsky, monetary policy, and mint street, challenges for the art of monetary policymaking in emerging economies.

This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003–04 to 2013–14). The paper uses Hyman P. Minsky’s financial instability hypothesis as the conceptual framework for evaluating the endogenous nature of financial instability and its potential impact on monetary policymaking, and addresses the need to pursue regulatory policy as a tool that is complementary to monetary policy in light of the agenda of reforms put forward by Minsky. It further reviews the extensions to the Minskyan hypothesis in the areas of setting fiscal policy, managing cross-border capital flows, and developing financial institutional infrastructure. The lessons learned from the interplay of policy choices in these areas and their impact on monetary policymaking at the RBI are presented.

Growth for Whom?

Will tourism save greece, the euro treasury plan, economic policy in india, for economic stimulus, or for austerity and volatility.

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at “price stability” in the neoliberal regime, fiscal policies were characterized by the objective of maintaining “sound finance” and “austerity.” Such monetarist principles and measures have also loomed over the global recession. This paper highlights the theoretical fallacies of monetarism and analyzes the consequences of such policy measures in India, particularly during the period of the global recession. Not only did such policies pose constraints on the recovery of output and employment, with adverse impacts on income distribution; but they also failed to achieve their stated goal in terms of price stability. By citing examples from southern Europe and India, this paper concludes that such monetarist policy measures have been responsible for stagnation, with a rise in price volatility and macroeconomic instability in the midst of the global recession.

How Poor Is Turkey? And What Can Be Done About It?

Time deficits and poverty, the levy institute measure of time and consumption poverty for turkey.

Official poverty lines in Turkey and other countries often ignore the fact that unpaid household production activities that contribute to the fulfillment of material needs and wants are essential for the household to reproduce itself as a unit. This omission has consequences. Taking household production for granted when measuring poverty yields an unacceptably incomplete picture, and therefore estimates based on such an omission provide inadequate guidance to policymakers.

Standard measurements of poverty assume that all households and individuals have enough time to adequately attend to the needs of household members—including, for example, children. These tasks are absolutely necessary for attaining a minimum standard of living. But this assumption is false. For numerous reasons, some households may not have sufficient time, and they thus experience what are referred to as “time deficits.” If a household officially classified as nonpoor has a time deficit and cannot afford to cover it by buying market substitutes (e.g., hire a care provider), that household will encounter hardships not reflected in the official poverty measure. To get a more accurate calculus of poverty, we have developed the Levy Institute Measure of Time and Consumption Poverty (LIMTCP), a two-dimensional measure that takes into account both the necessary consumption expenditures and household production time needed to achieve a minimum living standard.

Modern Money Theory and Interrelations between the Treasury and the Central Bank

The case of the united states.

One of the main contributions of Modern Money Theory (MMT) has been to explain why monetarily sovereign governments have a very flexible policy space that is unconstrained by hard financial limits. Not only can they issue their own currency to pay public debt denominated in their own currency, but they can also easily bypass any self-imposed constraint on budgetary operations. Through a detailed analysis of the institutions and practices surrounding the fiscal and monetary operations of the treasury and central bank of the United States, the eurozone, and Australia, MMT has provided institutional and theoretical insights into the inner workings of economies with monetarily sovereign and nonsovereign governments. The paper shows that the previous theoretical conclusions of MMT can be illustrated by providing further evidence of the interconnectedness of the treasury and the central bank in the United States.

Wright Patman’s Proposal to Fund Government Debt at Zero Interest Rates

Lessons for the current debate on the us debt limit, the social enterprise model for a job guarantee in the united states, integrating time in public policy, empirical description of gender-specific outcomes and budgeting.

Incorporating time in public policymaking is an elusive area of research. Despite the fact that gender budgeting is emerging as a significant tool to analyze the socioeconomic impacts of fiscal policies and thus identify their impacts on gender equity, the integration of time-use statistics in this process remains incomplete, or is even entirely absent, in most countries. If gender budgeting is predominantly based on the index-based empirical description of gender-specific outcomes, a reexamination of the construction of the gender (inequality) index is needed. This is necessary if we are to avoid an incomplete description of the gender-specific outcomes in budget policymaking. Further, “hard-to-price” services are hardly analyzed in public policymaking. This issue is all the more revealing, as the available gender-inequality index—based on health, empowerment, and labor market participation – so far has not integrated time-use statistics in its calculations. From a public finance perspective, the gender budgeting process often rests on the assumption that mainstream expenditures, such as public infrastructure, are nonrival in nature, and that applying a gender lens to these expenditures is not feasible. This argument is refuted by time budget statistics. The time budget data reveal that this argument is often flawed, as there is an intrinsic gender dimension to nonrival expenditures.

Options for China in a Dollar Standard World

A sovereign currency approach, policy options for china, reorienting fiscal policy to reduce financial fragility, fiscal policy and rebalancing in the euro area, a critique of the german debt brake from a post-keynesian perspective.

The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain even from a mainstream point of view; (2) from a Post-Keynesian perspective, it completely neglects the requirements for fiscal policies of member-countries in a currency union and will prevent fiscal policy from contributing to the necessary rebalancing in the Euro area; and (3) alternative scenarios, which could avoid the deflationary pressures of the German debt brake on domestic demand and contribute to internally rebalancing the Euro area, are extremely unlikely, as they would have to rely on unrealistic shifts in the functional income distribution and/or investment and savings behavior in Germany.

Reorienting Fiscal Policy

A critical assessment of fiscal fine-tuning.

The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump priming and the new designation of fiscal policy effectiveness found in the New Consensus literature. A theoretical critique of their respective transmission mechanisms reveals that they operate in a trickle-down fashion that not only fails to secure and maintain full employment but also contributes to the increasing postwar labor market precariousness and the erosion of income equality. The two conventional demand-side measures are then contrasted with the proposed alternative—a bottom-up approach to fiscal policy based on a reinterpretation of Keynes’s original policy prescriptions for full employment. The paper offers a theoretical, methodological, and policy rationale for government intervention that includes specific direct-employment and investment initiatives, which are inherently different from contemporary hydraulic fine-tuning measures. It outlines the contours of the modern bottom-up approach and concludes with some of its advantages over conventional stabilization methods.

Is the Link between Output and Jobs Broken?

As this report goes to press, the official unemployment rate remains tragically elevated, compared even to rates at similar points in previous recoveries. The US economy seems once again to be in a “jobless recovery,” though the unemployment rate has been steadily declining for years. At the same time, fiscal austerity has arrived, with the implementation of the sequester cuts, following tax increases and the ending of emergency extended unemployment benefits just two months ago.

Our new report provides medium-term projections of employment and economic growth under four different scenarios. The baseline scenario starts by assuming the same growth rates and government deficits as the Congressional Budget Office’s (CBO) baseline projection from earlier this year. The result is a new surge of the unemployment rate to nearly 8 percent in the third quarter of this year, followed by a very gradual new recovery. Scenarios 1 and 2 seek to reach unemployment-rate goals of 6.5 percent and 5.5 percent, respectively, by the end of next year, using new fiscal stimulus.

We find in these simulations that reaching the goals requires large amounts of fiscal stimulus, compared to the CBO baseline. For example, in order to reach 5.5 percent unemployment in 2014, scenario 2 assumes 11 percent growth in inflation-adjusted government spending and transfers, along with lower taxes.

As an alternative, scenario 3 adds an extra increase to growth abroad and to private borrowing, along with the same amount of fiscal stimulus as in scenario 1. In this last scenario of the report, the unemployment rate finally pierces the 5.5 percent threshold from the previous scenario in the third quarter of 2015. We conclude with some thoughts about how such an increase in demand from all three sectors—government, private, and external—might be realistically obtained.

Marriner S. Eccles and the 1951 Treasury – Federal Reserve Accord

Lessons for central bank independence.

The 1951 Treasury – Federal Reserve Accord is an important milestone in central bank history. It led to a lasting separation between monetary policy and the Treasury’s debt-management powers, and established an independent central bank focused on price stability and macroeconomic stability. This paper revisits the history of the Accord and elaborates on the role played by Marriner Eccles in the events that led up to its signing. As chairman of the Fed Board of Governors since 1934, Eccles was also instrumental in drafting key banking legislation that enabled the Federal Reserve System to take on a more independent role after the Accord. The global financial crisis has generated renewed interest in the Accord and its lessons for central bank independence. The paper shows that Eccles’s support for the Accord—and central bank independence—was clearly linked to the strong inflationary pressures in the US economy at the time, but that he was as supportive of deficit financing in the 1930s. This broader interpretation of the Accord holds the key to a more balanced view of Eccles’s role at the Federal Reserve, where his contributions from the mid-1930s up to the Accord are seen as equally important. For this reason, the Accord should not be seen as the eternal beacon for central bank independence but rather as an enlightened vision for a more symmetric policy role for central banks, with equal weight on fighting inflation and preventing depressions.

ECB Worries / European Woes

The economic consequences of parochial policy.

Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with such circumstances, US institutions and the policymakers that run them have responded in a fashion that has consistently thwarted debt-deflation-depression dynamics. It is true that these “remedies,” as they succeeded, increasingly contributed to a moral hazard in US and global financial markets that culminated with the crisis that began in 2007. Nonetheless, the straightforward steps taken by established institutions enabled the United States to derail depression dynamics, while European 1930s-style austerity proved as ineffective as it was almost a century ago. Europe’s, and specifically Germany’s, steadfast refusal to embrace the US recipe has fostered mushrooming economic hardship on the continent. The situation is gruesome, and any serious student of economic history had to have known, given European policy commitments, that it was destined to turn out this way.

It is easy to understand why misguided policies drove initial European responses. Economic theory has frowned on Keynes. Economic successes, especially in Germany, offered up the wrong lessons, and enduring angst about inflation was a major distraction. At the outset, the wrong medicine for the wrong disease was to be expected.

What is much harder to fathom is why such a poisonous elixir continues to be proffered amid widespread evidence that the patient is dying. Deconstructing cognitive dissonance in other spheres provides an explanation. Not surprisingly, knowing what one wants to happen at home completely informs one’s claims concerning what will be good for one’s neighbors. In such a construct, the last best hope for Europe is ECB President Mario Draghi. He seems to be able to speak German and yet act European.

A Meme for Money

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives.That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually do, money “lubricates” the market mechanism—a good thing, because the conventional view of the market itself is overwhelmingly positive. Acknowledging the work of George Lakoff, this paper takes the position that we need an alternative meme, one that provides a frame that is consistent with a progressive social view if we are to be more successful in policy debates. In most cases, the progressives adopt the conservative framing and so have no chance. The paper advances an alternative framing for money and shows how it can be used to reshape discussion. The paper shows that the Modern Money Theory approach is particularly useful as a starting point for framing that emphasizes use of the monetary system as a tool to accomplish the public purpose.

It is not so much the accuracy of the conventional view of money that we need to question, but rather the framing. We need a new meme for money, one that would emphasize the social, not the individual. It would focus on the positive role played by the state, not only in the creation and evolution of money, but also in ensuring social control over money. It would explain how money helps to promote a positive relation between citizens and the state, simultaneously promoting shared values such as liberty, democracy, and responsibility. It would explain why social control over money can promote nurturing activities over the destructive impulses of our “undertakers” (Smith’s evocative term for capitalists).

Fiscal Policy, Unemployment Insurance, and Financial Crises in a Model of Growth and Distribution

Recently, some have wondered whether a fiscal stimulus plan could reduce the government’s budget deficit. Many also worry that fiscal austerity plans will only bring higher deficits. Issues of this kind involve endogenous changes in tax revenues that occur when output, real wages, and other variables are affected by changes in policy. Few would disagree that various paradoxes of austerity or stimulus might be relevant, but such issues can be clarified a great deal with the help of a complete heterodox model.

In light of recent world events, this paper seeks to improve our understanding of the dynamics of fiscal policy and financial crises within the context of two-dimensional (2D) and five-dimensional heterodox models. The nonlinear version of the 2D model incorporates curvilinear functions for investment and consumption out of unearned income. To bring in fiscal policy, I make use of a rule with either (1) dual targets of capacity utilization and public production, or (2) a balanced-budget target. Next, I add discrete jumps and policy-regime switches to the model in order to tell a story of a financial crisis followed by a move to fiscal austerity. Then, I return to the earlier model and add three more variables and equations: (1) I model the size of the private- and public-sector labor forces using a constant growth rate and account for their social reproduction by introducing an unemployment-insurance scheme; and (2) I make the markup endogenous, allowing its rate of change to depend, in a possibly nonlinear way, on capacity utilization, the real wage relative to a fixed norm, the employment rate, profitability, and the business sector’s desired capital-stock growth rate. In the conclusion, I comment on the implications of my results for various policy issues.

Reorienting Fiscal Policy after the Great Recession

The paper evaluates the fiscal policy initiatives during the Great Recession in the United States. It argues that, although the nonconventional fiscal policies targeted at the financial sector dwarfed the conventional countercyclical stabilization efforts directed toward the real sector, the relatively disappointing impact on employment was a result of misdirected funding priorities combined with an exclusive and ill-advised focus on the output gap rather than on the employment gap. The paper argues further that conventional pump-priming policies are incapable of closing this employment gap. In order to tackle the formidable labor market challenges observed in the United States over the last few decades, policy could benefit from a fundamental reorientation away from trickle-down Keynesianism and toward what is termed here a “bottom-up approach” to fiscal policy. This approach also reconsiders the nature of countercyclical government stabilizers.

Full Employment through Social Entrepreneurship

The nonprofit model for implementing a job guarantee.

The conventional approach of fiscal policy is to create jobs by boosting private investment and growth. This approach is backward, says Research Associate Pavlina R. Tcherneva. Policy must begin by fixing the unemployment situation because growth is a byproduct of strong employment —not the other way around. Tcherneva proposes a bottom-up approach based on community programs that can be implemented at all phases of the business cycle; that is, a grass-roots job-guarantee program run by the nonprofit sector (with participation by the social entrepreneurial sector) but financed by the government. A job-guarantee program would lead to full employment over the long run and address an outstanding fault of modern market economies.

The European Central Bank and Why Things Are the Way They Are

A historic monetary policy pivot point and moment of (relative) clarity.

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative risk basis.

In major developed economies, a hypermature secular decline in interest rates is pancaking against a hard, roughly zero lower-rate bound (i.e., barring imposition of rather extreme policies such as a tax on cash holdings, which could conceivably drive rates deeply negative). Relentlessly mounting aggregate debt loads are rendering monetary- and fiscal policy–impaired governments and segments of society insolvent and struggling to escape liquidity quicksands and stubbornly low or negative growth and employment trends.

At the center of the current crisis is the European Monetary Union (EMU)—a monetary union lacking fiscal and political integration. Such partial integration limits policy alternatives relative to either full federal integration of member-states or no integration at all. As we have witnessed since spring 2008, this operationally constrained middle ground progressively magnifies economic divergence and political and social discord across member-states.

Given the scale and scope of the eurozone crisis, policy and actions taken (or not taken) by the European Central Bank (ECB) meaningfully impact markets large and small, and ripple with force through every major monetary policy domain. History, for the moment, has rendered the ECB the world’s most important monetary policy pivot point.

Since November 2011, the ECB has taken on an arguably activist liquidity-provider role relative to private banks (and, in some important measure, indirectly to sovereigns) while maintaining its long-held post as rhetorical promoter of staunch fiscal discipline relative to sovereignty-encased “peripheral” states lacking full monetary and fiscal integration. In December 2011, the ECB made clear its intention to inject massive liquidity when faced with crises of scale in future. Already demonstratively disposed toward easing due to conditions on their respective domestic fronts, other major central banks have mobilized since the third quarter of 2011. The collective global central banking policy posture has thus become more homogenized, synchronized, and directionally clear than at any time since early 2009.

Reducing Economic Imbalances in the Euro Area

Some remarks on the current stability programs, 2011–14.

This paper evaluates whether the 2011 national stability programs (SPs) of the euro area countries are instrumental in achieving economic stability in the European Monetary Union (EMU). In particular, we analyze how the SPs address the double challenge of public deficits and external imbalances. Our analysis rests, first, on the accounting identities of the public, private, and foreign financial balances; and second, on the consideration of all SPs at once rather than separately. We find that conclusions are optimistic regarding GDP growth and fiscal consolidation, while current account rebalancing is neglected. The current SPs reach these conclusions by assuming strong global export markets, entrenched current account imbalances within the EMU as well as the deterioration of private financial balances in the current account deficit countries. By means of our simulations we conclude, on the one hand, that the failure of favorable global macroeconomic developments to materialize may lead to the opposite of the desired stability by exacerbating imbalances in the euro area. On the other hand, given symmetric efforts at rebalancing, the simulation suggests that for surplus countries that reduce their current account, a more expansionary fiscal policy will likely be required to maintain growth rates.

Beyond Pump Priming

The American Jobs Act now before Congress relies largely on a policy of aggregate demand management, or “pump priming”: injecting demand into a frail economy in hopes of boosting growth and lowering unemployment. But this strategy, while beneficial in setting a floor beneath economic collapse, fails to produce and maintain full employment, while doing little to address income inequality. The alternative? Fiscal policy that directly targets unemployment by providing paid work to all those willing to do their part.

What Ended the Great Depression?

Reevaluating the role of fiscal policy.

Conventional wisdom contends that fiscal policy was of secondary importance to the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilized gold inflows to increase the money supply. Often, this is shown by measuring the fiscal multipliers, and demonstrating that they were relatively small.

This paper shows that problems with the conventional measures of fiscal multipliers in the 1930s may have created an incorrect consensus on the irrelevance of fiscal policy. The rehabilitation of fiscal policy is seen as a necessary step in the reinterpretation of the positive role of New Deal policies for the recovery.

Effective Demand in the Recent Evolution of the US Economy

We present strong empirical evidence favoring the role of effective demand in the US economy, in the spirit of Keynes and Kalecki. Our inference comes from a statistically well-specified VAR model constructed on a quarterly basis from 1980 to 2008. US output is our variable of interest, and it depends (in our specification) on (1) the wage share, (2) OECD GDP, (3) taxes on corporate income, (4) other budget revenues, (5) credit, and the (6) interest rate. The first variable was included in order to know whether the economy under study is wage led or profit led. The second represents demand from abroad. The third and fourth make up total government expenditure and our arguments regarding these are based on Kalecki’s analysis of fiscal policy. The last two variables are analyzed in the context of Keynes’s monetary economics. Our results indicate that expansionary monetary, fiscal, and income policies favor higher aggregate demand in the United States.

It's Time to Rein In the Fed

Scott Fullwiler and Senior Scholar L. Randall Wray review the roles of the Federal Reserve and the Treasury in the context of quantitative easing, and find that the financial crisis has highlighted the limited oversight of Congress and the limited transparency of the Fed. And since a Fed promise is ultimately a Treasury promise that carries the full faith and credit of the US government, the question is whether the Fed should be able to commit the public purse in times of national crisis.

Jobless Recovery Is No Recovery: Prospects for the US Economy

The US economy grew reasonably fast during the last quarter of 2010, and the general expectation is that satisfactory growth will continue in 2011–12. The expansion may, indeed, continue into 2013. But with large deficits in both the government and foreign sectors, satisfactory growth in the medium term cannot be achieved without a major, sustained increase in net export demand. This, of course, cannot happen without either a cut in the domestic absorption of US goods and services or a revaluation of the currencies of the major US trading partners.

Our policy message is fairly simple, and one that events over the years have tended to vindicate. Most observers have argued for reductions in government borrowing, but few have pointed out the potential instabilities that could arise from a growth strategy based largely on private borrowing—as the recent financial crisis has shown. With the economy operating at far less than full employment, we think Americans will ultimately have to grit their teeth for some hair-raising deficit figures, but they should take heart in recent data showing record-low “core” CPI inflation—and the potential for export-led growth to begin reducing unemployment.

Fiscal Policy Effectiveness: Lessons from the Great Recession

This paper reconsiders fiscal policy effectiveness in light of the recent economic crisis. It examines the fiscal policy approach advocated by the economics profession today and the specific policy actions undertaken by the Bush and Obama administrations. An examination of the labor market renders the contemporary aggregate demand–management approach wholly inadequate for achieving certain macroeconomic objectives, such as the stabilization of investment and investor expectations, the generation and maintenance of full employment, and the equitable distribution of incomes. The paper reconsiders the policy effectiveness of alternative fiscal policy approaches, and argues that a policy that directly targets the labor demand gap (as opposed to the output gap) is far more effective in stabilizing employment, incomes, investment, and balance sheets.

Quantitative Easing and Proposals for Reform of Monetary Policy Operations

Beyond its original mission to “furnish an elastic currency” as lender of last resort and manager of the payments system, the Federal Reserve has always been responsible (along with the Treasury) for regulating and supervising member banks. After World War II, Congress directed the Fed to pursue a dual mandate, long interpreted to mean full employment with reasonable price stability. The Fed has been left to decide how to achieve these objectives, and it has over time come to view price stability as the more important of the two. In our view, the Fed’s focus on inflation fighting diverted its attention from its responsibility to regulate and supervise the financial sector, and its mandate to keep unemployment low. Its shift of priorities contributed to creation of the conditions that led to this crisis. Now in its third phase of responding to the crisis and the accompanying deep recession—so-called “quantitative easing 2,” or “QE2”—the Fed is currently in the process of purchasing $600 billion in Treasuries. Like its predecessor, QE1, QE2 is unlikely to seriously impact either of the Fed’s dual objectives, however, for the following reasons: (1) additional bank reserves do not enable greater bank lending; (2) the interest rate effects are likely to be small at best given the Fed’s tactical approach to QE2, while the private sector is attempting to deleverage at any rate, not borrow more; (3) purchases of Treasuries are simply an asset swap that reduce the maturity and liquidity of private sector assets but do not raise incomes of the private sector; and (4) given the reduced maturity of private sector Treasury portfolios, reduced net interest income could actually be mildly deflationary.

The most fundamental shortcoming of QE—or, in fact, of using monetary policy in general to combat the recession—is that it only “works” if it somehow induces the private sector to spend more out of current income. A much more direct approach, particularly given much-needed deleveraging by the private sector, is to target growth in after tax incomes and job creation through appropriate and sufficiently large fiscal actions. Unfortunately, stimulus efforts to date have not met these criteria, and so have mostly kept the recession from being far worse rather than enabling a significant economic recovery. Finally, while there is identical risk to the federal government whether a bailout, a loan, or an asset purchase is undertaken by the Fed or the Treasury, there have been enormous, fundamental differences in democratic accountability for the two institutions when such actions have been taken since the crisis began. Public debates surrounding the wisdom of bailouts for the auto industry, or even continuing to provide benefits to the unemployed, never took place when it came to the Fed committing trillions of dollars to the financial system—even though, again, the federal government is “on the hook” in every instance.

A New “Teachable” Moment?

A common refrain heard from those trying to justify the results of the recent midterm elections is that the government’s fiscal stimulus to save the US economy from depression undermined growth, and that fiscal restraint is the key to economic expansion. Research Associate Marshall Auerback maintains that this refrain stems from a failure to understand a fundamental reality of bookkeeping—that when the government runs a surplus (deficit), the nongovernment sector runs a deficit (surplus). If the new GOP Congress led by Republicans and their Tea Party allies cuts government spending now, deficits will go higher , as growth slows, automatic stabilizers kick in, and tax revenues fall farther. And if extending the Bush tax cuts faces congressional gridlock, taxes will rise in 2011, further draining aggregate demand. Moreover, there are potential solvency issues for the United States if the debt ceiling is reached and Congress does not raise it. This chain of events potentially creates a new financial crisis and effectively forces the US government to default on its debt. The question is whether or not President Obama (and his economic advisers) will be enlightened enough to embrace this “teachable moment” about US main sector balances. Recent remarks to the press about deficit reduction suggest otherwise.

The “Keynesian Moment” in Policymaking, the Perils Ahead, and a Flow-of-funds Interpretation of Fiscal Policy

With the global crisis, the policy stance around the world has been shaken by massive government and central bank efforts to prevent the meltdown of markets, banks, and the economy. Fiscal packages, in varied sizes, have been adopted throughout the world after years of proclaimed fiscal containment. This change in policy regime, though dubbed the “Keynesian moment,” is a “short-run fix” that reflects temporary acceptance of fiscal deficits at a time of political emergency, and contrasts with John Maynard Keynes’s long-run policy propositions. More important, it is doomed to be ineffective if the degree of tolerance of fiscal deficits is too low for full employment.

Keynes’s view that outside the gold standard fiscal policies face real, not financial, constraints is illustrated by means of a simple flow-of-funds model. This shows that government deficits do not take financial resources from the private sector, and that demand for net financial savings by the private sector can be met by a rising trade surplus at the cost of reduced consumption, or by a rising government deficit financed by the monopoly supply of central bank credit. Fiscal deficits can thus be considered functional to the objective of supplying the private sector with a provision of financial wealth sufficient to restore demand. By contrast, tax hikes and/or spending cuts aimed at reducing the public deficit lower the available savings of the private sector, and, if adopted too soon, will force the adjustment by way of a reduction of demand and standard of living.

This notion, however, is not applicable to the euro area, where constraints have been deliberately created that limit public deficits and the supply of central bank credit, thus introducing national solvency risks. This is a crucial flaw in the institutional structure of Euroland, where monetary sovereignty has been removed from all existing fiscal authorities. Absent a reassessment of its design, the euro area is facing a deflationary tendency that may further erode the economic welfare of the region.

Lessons from the New Deal

Did the new deal prolong or worsen the great depression.

Since the current recession began in December 2007, New Deal legislation and its effectiveness have been at the center of a lively debate in Washington. This paper emphasizes some key facts about two kinds of policy that were important during the Great Depression and have since become the focus of criticism by new New Deal critics: (1) regulatory and labor relations legislation, and (2) government spending and taxation. We argue that initiatives in these policy areas probably did not slow economic growth or worsen the unemployment problem from 1933 to 1939, as claimed by a number of economists in academic papers, in the popular press, and elsewhere. To substantiate our case, we cite some important economic benefits of New Deal–era laws in the two controversial policy areas noted above. In fact, we suggest that the New Deal provided effective medicine for the Depression, though fiscal policy was not sufficiently countercyclical to conquer mass unemployment and prevent the recession of 1937–38; 1933’s National Industrial Recovery Act was badly flawed and poorly administered, and the help provided by the National Labor Relations Act of 1935 came too late to have a big effect on the recovery.

Fiscal Policy and the Economics of Financial Balances

This paper presents the main features of the macroeconomic model being used at The Levy Economics Institute of Bard College, which has proven to be a useful tool in tracking the current financial and economic crisis. We investigate the connections of the model to the “New Cambridge” approach, and discuss other recent approaches to the evolution of financial balances for all sectors of the economy. We will finally show the effects of fiscal policy in the model, and its implications for the proposed fiscal stimulus on the US economy. We show that the New Cambridge hypothesis, which claimed that the private sector financial balance would be stable relative to income in the short run, does not hold for the short term in our model, but it does hold for the medium/long term. This implies that the major impact of the fiscal stimulus in the long run will be on the external imbalance, unless other measures are taken.

Whither New Consensus Macroeconomics?

The role of government and fiscal policy in modern macroeconomics.

In the face of the dramatic economic events of recent months and the inability of academics and policymakers to prevent them, the New Consensus Macroeconomics (NCM) model has been the subject of several criticisms. This paper considers one of the main criticisms lodged against the NCM model, namely, the absence of any essential role for the government and fiscal policy. Given the size of the public sector and the increasing role of fiscal policy in modern economies, this simplifying assumption of the NCM model is difficult to defend. This paper maintains that conventional arguments used to support this controversial assumption—including historical reasons, theoretical propositions, and practical issues—do not have solid foundations. There is, in fact, nothing inherently monetary in the stabilization policies found in the model. Thus, fiscal policy could play a role at least as important as monetary policy in the NCM model.

The Current Economic and Financial Crisis

A gender perspective.

Widespread economic recessions and protracted financial crises have been documented as setting back gender equality and other development goals in the past. In the midst of the current global crisis—often referred to as “the Great Recession”—there is grave concern that progress made in poverty reduction and women’s equality will be reversed. Indeed, for many developing countries it is particularly worrisome that, through no fault of their own, the global economic downturn has exacerbated effects from other crises manifest in food insecurity, poverty, and increasing inequality. This paper explores both well-known and less discussed paths of transmission through which crises affect women’s world of work and overall wellbeing. As demand for textile and agricultural exports decline, along with tourism, job losses are expected to rise in these female-intensive industries. In addition, the gendered nature of the world of work suggests that women will see an increase in their share among informal and vulnerable workers worldwide, and will also supply more of their labor under unpaid conditions. The latter is particularly important in the context of developing countries, where many production activities take place outside the strict boundaries of the market. The paper also makes this point: examined through the prism of gender equality, the ability of the state to implement countercyclical policies matters greatly. If policy responses at the national and international levels end up aggravating inequities, gender equality processes face many more barriers, especially among the poor.

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Research Topics in Islamic Banking and Finance

1   How Islamic financial instruments can be used in international trade?

2   A mechanism for inter-bank transactions for Islamic and conventional banks

3  Can Sharia board play a role in the development of Islamic instruments?

4 Tawarruq as a tool of inter-bank borrowing

5  Risk management framework for Islamic banks: do we need something special?

6  Have the challenges faced by Islamic banks changed over the last decade?

7  The dynamics of financial crisis: Conventional vs Islamic finance

8  Can Zakat be used as a microfinancing tools?

9  Value at Risk of Sukuk and conventional bonds

10  Risk analysis of Murabaha financing and leasing

11  What customers say about Islamic banking? Values vs religious perspectives

12  Can ownership structure affect earning management?

13 Collaborative Islamic Banking Service: The Case of Ijarah

14 Success factors of collaboration in Islamic banks

15 Constraints in the application of partnerships in Islamic banks

16  Can Islamic finance reduce nonperforming loans?

17  Which firms use Islamic financing?

18  Can SME’s benefit more from Islamic financing?

19  Islamic banking development and access to credit

20  Islamic finance and economic growth

10 Comments

please provide me islaic finance and economic growth

What is the Role of Finance in an under developed country?

suggest an easy topic of finance for research for beginners.

What is the effect of Islamic Finance on Pakistan Economy? Please give me suggestion about the topic.

How islamic financial instruments can be use in intrnational trade

i am also need this one

can i get related cases to use as a case study in Islamic banking research topis

Assalamualaikum. pleases i need a research topic in islamic finance or islamic economy

pleases i need a research topic in islamic finance

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