To fight inflation, European Central Bank (ECB) announced 10 successive interest rate hikes, starting on 27 July 2022, igniting an unprecedented widening of interest rate spreads in the euro area (ΕΑ). Greek banks, however, recorded among the highest interest rate spreads, far exceeding ΕΑ median and weighted average. Indeed, we document a strong asymmetric response of Greek banks to ECB interest rate hikes, with loan interest rates rising immediately, whilst deposit interest rates remained initially unchanged and then rose sluggishly. As a result, the interest rate spread hit one historical record after another. Greek systemic banks, probably taking advantage of the high concentration and low competition in the domestic sector benefited from key ECB interest rate hikes, recording gigantic increases in net interest income (NII), and consequently, substantial profits (almost €7.4 billion in the 2022–2023 biennium). Such excessive accumulation of profits (that deteriorates the living conditions of consumers) by the banking system could be called the inflation of “banking greed”, or bankflation. This new source of inflation created by the oligopolistic structure of the Greek banking sector counterworks the very reason for ECB interest rate increases and requires certain policy analysis recommendations in coping with it.
Urbanization process affects global socio-economic development. Originally tied to modernization and industrialization, current urbanization policy is focused on productivity, economic activities, and environmental sustainability. This study examines impact of urbanization in various regions of Kazakhstan, focusing on environmental, social, labor, industrial, and economic indicators. The study aims to assess how different indicators influence urbanization trends in Kazakhstan, particularly regarding environmental emissions and pollution. It delves into regional development patterns and identifies key contributing factors. The research methodology is based on classical economic theories of urbanization and modern interpretations emphasizing sustainability and socio-economic impacts and includes two stages. Shannon entropy measures diversity and uncertainty in urbanization indicators, while cluster analysis identifies regional patterns. Data from 2010 to 2022 for 17 regions forms the basis of analysis. Regions are categorized into groups based on urbanization levels leaders, challenged, stable, and outliers. This classification reveals disparities in urban development and its impacts. Findings stress the importance of integrating environmental and social considerations into urban planning and policies. Targeted interventions based on regional characteristics and urbanization levels are recommended to enhance sustainability and socio-economic outcomes. Tailored urban policies accommodating specific regional needs are crucial. Effective management and policy-making demand a nuanced understanding of these impacts, emphasizing region-specific strategies over a uniform approach.
This study updates Pereira and Pereira by revisiting the macroeconomic and budgetary effects of infrastructure investment in Portugal using a dataset from the Portuguese Ministry of the Economy covering 1980–2019, thereby capturing a period of austerity and decreased investment in the 2010s. A vector-autoregressive approach re-estimates the elasticity and marginal product of twelve infrastructure types on private investment, employment, and output. The most significant long-term accumulated effects on output accrue from investments in airports, ports, health, highways, water, and railroads. In contrast, those in municipal roads, electricity and gas, and refineries are statistically insignificant. All statistically significant infrastructure investments pay for themselves over time through additional tax revenues. Compared to the previous study, highways, water, and ports have more than doubled their estimated marginal products due to a significant increase in relative scarcity over the last decade. In addition, our analysis reveals an important shift in the impacts of infrastructure investment, now producing more substantial immediate effects but weaker long-term impacts. This change offers policymakers a powerful tool for short-term economic stimulus and is particularly useful in addressing immediate economic challenges.
In Nigeria, deforestation has led to an unimaginable loss of genetic variation within tree populations. Regrettably, little is known about the genetic variation of many important indigenous timber species in Nigeria. More so, the specific tools to evaluate the genetic diversity of these timber species are scarce. Therefore, this study developed species-specific markers for Pterygota macrocarpa using state-of-the-art equipment. Leaf samples were collected from Akure Forest Reserve, Ondo State, Nigeria. DNA isolation, quantification, PCR amplification, gel electrophoresis, post-PCR purification, and sequencing were done following a standardized protocol. The melting temperatures (TM) of the DNA fragments range from 57.5 ℃to 60.1 ℃ for primers developed from the MatK gene and 58.7 ℃ to 60.5 ℃ for primers developed from the RuBisCo gene. The characteristics of the ten primers developed are within the range appropriate for genetic diversity assessment. These species-specific primers are therefore recommended for population evaluation of Pterygota macrocarpa in Nigeria.
Studies to evaluate the response of passion fruit seedlings in terms of emergence, nursery, and early field growth to growing media and mulching were carried out at the Teaching and Research Farm of Joseph Sarwuan Tarka University Makurdi between July and December 2018. Treatments consisted of five media, composted from readily available substrates. The five nursery media were; medium 1:1:2:3 (SB) composed of top soil + poultry manure + river sand; medium 2:1:2:3 (RHB) – rice hull + poultry manure + river sand; medium 3:2:3:1 (RHB) – rice hull + poultry manure + river sand; medium 4:1:4:3 (SDB) – sawdust + poultry manure + river sand and medium 5:1:2:3 (SDB) – sawdust + poultry manure + river sand. For the nursery experiment, treatments were the five potting media, while the field trial was a 5 × 2 factorial arrangement consisting of the five growing media and mulching status (mulch and no mulch). In both cases, treatments were laid out in randomized designs that were replicated three times. Results showed that there were no significant differences in all the emergence traits evaluated. However, medium M5 (sawdust based) showed superior performance in most of the seedling characters evaluated. Under field conditions, the sawdust based media (M4 and M5) gave the best growth of passion fruit seedlings compared to the other potting media. Application of mulch, however, did not elicit any significant response in plant growth. It is therefore conclusive that sawdust based growing media could be used to produce high quality passion fruit seedlings with the prospect of excellent performance under field conditions.
Leisure education has an impact not only on individuals but also on the environment and society. The present study aimed to explore and describe experts’ knowledge and experience about leisure education to develop leadership among youth with physical disabilities. The present study used a qualitative research approach through an exploratory design to answer the research question. Five participants were purposefully recruited and selected based on their expertise in the topic of interest. Participants’ expertise ranged from leisure, recreation, youth and leadership. The participants had experience working in higher education institutions, and community projects, held doctorate qualifications, and have over ten years in this field. Data was collected online using Google Meet software using semi-structured interviews with open-ended questions. Data was analyzed using a thematic analysis framework and guidelines. The findings of this study suggest that youth with physical disabilities can develop personal capacity through leisure education programmes. Leisure education programmes can be meaningful to youth with physical disabilities and have a developmental impact, including leadership. Youth with physical disabilities’ capacities and abilities should be nurtured and protected to allow growth and independence. The implications are that leisure education programmes for leadership development must be intentional to achieve the intended outcome.
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