Cargando…
Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE
Covid-19 has affected the global economy, influencing firm and household financial decisions worldwide. The Central Bank of the United Arab Emirates (CBUAE) released an AED 256 billion stimulus package to provide banks with sufficient capital to support economic activities and development by providi...
Autores principales: | , , , |
---|---|
Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Palgrave Macmillan UK
2021
|
Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8126471/ http://dx.doi.org/10.1057/s41264-021-00098-w |
_version_ | 1783693765975736320 |
---|---|
author | Gerth, Florian Ramiah, Vikash Toufaily, Elissar Muschert, Glenn |
author_facet | Gerth, Florian Ramiah, Vikash Toufaily, Elissar Muschert, Glenn |
author_sort | Gerth, Florian |
collection | PubMed |
description | Covid-19 has affected the global economy, influencing firm and household financial decisions worldwide. The Central Bank of the United Arab Emirates (CBUAE) released an AED 256 billion stimulus package to provide banks with sufficient capital to support economic activities and development by providing temporary relief to large corporations, small- and medium-sized enterprises, and households. New financial products have rapidly appeared, including relief packages for rent, mortgages, personal loans, credit cards, SMEs, and corporate entities. Regression analysis explores the effect of such relief packages on UAE firm and household finances. Using online survey data gathered via convenience sampling of UAE households, econometric analysis confirms that select demographic factors and financial instruments positively relate to effective financial decision-making. Our results guide policymakers on which relief packages effectively manage firm-level and household financial distress during a health pandemic. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1057/s41264-021-00098-w. |
format | Online Article Text |
id | pubmed-8126471 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2021 |
publisher | Palgrave Macmillan UK |
record_format | MEDLINE/PubMed |
spelling | pubmed-81264712021-05-17 Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE Gerth, Florian Ramiah, Vikash Toufaily, Elissar Muschert, Glenn J Financ Serv Mark Original Article Covid-19 has affected the global economy, influencing firm and household financial decisions worldwide. The Central Bank of the United Arab Emirates (CBUAE) released an AED 256 billion stimulus package to provide banks with sufficient capital to support economic activities and development by providing temporary relief to large corporations, small- and medium-sized enterprises, and households. New financial products have rapidly appeared, including relief packages for rent, mortgages, personal loans, credit cards, SMEs, and corporate entities. Regression analysis explores the effect of such relief packages on UAE firm and household finances. Using online survey data gathered via convenience sampling of UAE households, econometric analysis confirms that select demographic factors and financial instruments positively relate to effective financial decision-making. Our results guide policymakers on which relief packages effectively manage firm-level and household financial distress during a health pandemic. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1057/s41264-021-00098-w. Palgrave Macmillan UK 2021-05-17 2021 /pmc/articles/PMC8126471/ http://dx.doi.org/10.1057/s41264-021-00098-w Text en © The Author(s), under exclusive licence to Springer Nature Limited 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic. |
spellingShingle | Original Article Gerth, Florian Ramiah, Vikash Toufaily, Elissar Muschert, Glenn Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE |
title | Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE |
title_full | Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE |
title_fullStr | Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE |
title_full_unstemmed | Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE |
title_short | Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE |
title_sort | assessing the effectiveness of covid-19 financial product innovations in supporting financially distressed firms and households in the uae |
topic | Original Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8126471/ http://dx.doi.org/10.1057/s41264-021-00098-w |
work_keys_str_mv | AT gerthflorian assessingtheeffectivenessofcovid19financialproductinnovationsinsupportingfinanciallydistressedfirmsandhouseholdsintheuae AT ramiahvikash assessingtheeffectivenessofcovid19financialproductinnovationsinsupportingfinanciallydistressedfirmsandhouseholdsintheuae AT toufailyelissar assessingtheeffectivenessofcovid19financialproductinnovationsinsupportingfinanciallydistressedfirmsandhouseholdsintheuae AT muschertglenn assessingtheeffectivenessofcovid19financialproductinnovationsinsupportingfinanciallydistressedfirmsandhouseholdsintheuae |