Pricing Protest: The Response of Financial Markets to Social Unrest

Pricing Protest: The Response of Financial Markets to Social Unrest

Author: International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Published: 2021-03-19

Total Pages: 69

ISBN-13: 9781513572765

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Using a new daily index of social unrest, we provide systematic evidence on the negative impact of social unrest on stock market performance. An average social unrest episode in an typical country causes a 1.4 percentage point drop in cumulative abnormal returns over a two-week event window. This drop is more pronounced for events that last longer and for events that happen in emerging markets. Stronger institutions, particularly better governance and more democratic systems, mitigate the adverse impact of social unrest on stock market returns.


The Economic Consequences of Social Unrest: Evidence from Initial Public Offerings

The Economic Consequences of Social Unrest: Evidence from Initial Public Offerings

Author: Mr. Philip Barrett

Publisher: International Monetary Fund

Published: 2023-11-10

Total Pages: 52

ISBN-13:

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Prior research attributes negative stock market performance following episodes of social unrest to elevated uncertainty. However, social unrest does not solely increase uncertainty, but separately acts to decrease investor sentiment. To determine which effect dominates, we study initial public offering (IPO) underpricing, which responds differently to changes to uncertainty and investor sentiment. Consistent with the notion that social unrest dampens investor sentiment, we find robust evidence that IPO first-day returns are lower during times of greater social unrest. Limits to arbitrage intensify the negative relation between social unrest and underpricing. Notably, strong institutional frameworks mitigate the impact of social unrest on underpricing, suggesting that quality institutions weaken the link between investor sentiment and returns.


Reported Social Unrest Index: September 2024 Update

Reported Social Unrest Index: September 2024 Update

Author: Mr. Philip Barrett

Publisher: International Monetary Fund

Published: 2024-10-11

Total Pages: 10

ISBN-13:

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This is the third update of the reported Social Unrest Index (Barrett et al. 2022), describing the evolution of social unrest worldwide since June 2023. It shows that the global incidence of unrest has stayed broadly stable in the last year. However, the global distribution has not been even, with a concentration of major events in Europe and sub-Saharan Africa and, to a lesser extent, in the Western Hemisphere.


Reported Social Unrest Index: August 2023 Update

Reported Social Unrest Index: August 2023 Update

Author: Mr. Philip Barrett

Publisher: International Monetary Fund

Published: 2023-08-18

Total Pages: 8

ISBN-13:

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This paper is the second update of the Reported Social Unrest Index (Barrett et al. 2022), outlining developments in global social unrest since March 2022. It shows that the fraction of countries experiencing major social unrest events has been stable. Reasons for social unrest can be broadly categorized as stemming from sdebate over constitutional issues, protests connected to specific policies, and other generalized disorder.


Free Markets and Food Riots

Free Markets and Food Riots

Author: John K. Walton

Publisher: John Wiley & Sons

Published: 2008-09-15

Total Pages: 398

ISBN-13: 0470712716

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This book describes and explains the extraordinary wave of popular protest that swept across the so-called Third World and the countries of the former socialist bloc during the period from the late 1970s to the early 1990s, in response to the mounting debt crisis and the austerity measures widely adopted as part of economic "reform" and "adjustment". Explores this general proposition in a cross-national study of the austerity protests, or the 'IMF Riots' that have affected so many debtor nations since the mid-1970s Argues that modern austerity protests, like the classical "bread riots" in eighteenth-century Europe are political acts aimed at injustice, but acts that are an integral part of the process of international economic and political restructuring Evaluates how modern food riots are most important for what they reveal about global economic transformation and its social, and political, consequences Provides a general framework (drawing on comparative and historical material) and then trace the cycle of uneven development, debt, neo-liberal reform, and protest in Latin America, Africa, Asia, the Middle East, and Eastern Europe Focusses on the role of women in structural adjustment and protest politics and the features of seemingly anomalous cases which qualify the general argument


Fiscal Monitor, April 2022

Fiscal Monitor, April 2022

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2022-04-20

Total Pages: 124

ISBN-13: 1513598783

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Chapter 1 discusses how fiscal policy operates amid a sharp rise in uncertainty caused by the war in Ukraine. Chapter 2 discusses how international coordination on tax matters can support revenue, inclusion, tax transparency, and greener economies.


Papua New Guinea

Papua New Guinea

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2024-07-18

Total Pages: 80

ISBN-13:

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Background. On March 22, 2023, the IMF Executive Board approved 38-month Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements with Papua New Guinea to help address a protracted balance of payments need manifested in foreign exchange shortages and to support the authorities’ reforms to address long-standing structural impediments to inclusive growth. The authorities have made progress in implementing reforms supported by the program, demonstrating continued commitment to program’s objectives. The tense political and social environment, culminating in civil unrest in January 2024, has affected the parliamentary calendar and delayed the adoption of laws.


World Protests

World Protests

Author: Isabel Ortiz

Publisher: Springer Nature

Published: 2021-11-03

Total Pages: 201

ISBN-13: 3030885135

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This is an open access book. The start of the 21st century has seen the world shaken by protests, from the Arab Spring to the Yellow Vests, from the Occupy movement to the social uprisings in Latin America. There are periods in history when large numbers of people have rebelled against the way things are, demanding change, such as in 1848, 1917, and 1968. Today we are living in another time of outrage and discontent, a time that has already produced some of the largest protests in world history. This book analyzes almost three thousand protests that occurred between 2006 and 2020 in 101 countries covering over 93 per cent of the world population. The study focuses on the major demands driving world protests, such as those for real democracy, jobs, public services, social protection, civil rights, global justice, and those against austerity and corruption. It also analyzes who was demonstrating in each protest; what protest methods they used; who the protestors opposed; what was achieved; whether protests were repressed; and trends such as inequality and the rise of women’s and radical right protests. The book concludes that the demands of protestors in most of the protests surveyed are in full accordance with human rights and internationally agreed-upon UN development goals. The book calls for policy-makers to listen and act on these demands.


Global Trends 2040

Global Trends 2040

Author: National Intelligence Council

Publisher: Cosimo Reports

Published: 2021-03

Total Pages: 158

ISBN-13: 9781646794973

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"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.


Meaningful Resistance

Meaningful Resistance

Author: Erica S. Simmons

Publisher: Cambridge University Press

Published: 2016-06

Total Pages: 247

ISBN-13: 1107124859

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Exploring marketization, local practices, and protests, this book shows how market-driven subsistence threats can be powerful loci for resistance movements.