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Article
Publication date: 18 March 2020

Jiaming Zhang and Xiangrong Deng

This study aims to empirically analyze how interest rate liberalization affects bank liquidity creation, and investigate whether the relationship between them is linear.

830

Abstract

Purpose

This study aims to empirically analyze how interest rate liberalization affects bank liquidity creation, and investigate whether the relationship between them is linear.

Design/methodology/approach

Based on panel data on 145 banks in China over the period 1997–2015, this paper regresses the econometric model by conducting feasible generalized least square estimation.

Findings

The regression results show that, first, interest rate liberalization has a nonlinear impact on bank liquidity creation, and the relationship between them is inverted U-shaped. In other words, as interest rate liberalization progresses, bank liquidity creation increases first, and then decreases. Second, through the mediation effect tests, this study found that interest rate liberalization affects bank liquidity creation through bank risk-taking. That is, interest rate liberalization leads to changes in bank risk-taking, thus resulting in changes in bank liquidity creation.

Research limitations/implications

The effect of interest rate liberalization on bank liquidity creation is nonlinear, so promoting interest rate liberalization faces a trade-off because excessive bank liquidity creation may lead to asset price bubbles, while insufficient bank liquidity creation may inhibit economic growth.

Practical implications

Interest rate liberalization has a significant impact on bank liquidity creation; therefore, bank liquidity creation should be added to the objective function of the regulator that determines interest rate liberalization reform in China.

Social implications

Interest rate liberalization has a direct impact on bank risk-taking, so the consequences of interest rate liberalization should be included in the framework of macro-prudential supervision.

Originality/value

Interest rate liberalization is one of the most important financial reforms in China, yet its potential impact on firm-level bank liquidity is little explored. This paper attempts to fill the gap.

Available. Open Access. Open Access
Article
Publication date: 5 December 2024

Xin Fan and Xiaoyu Song

Regulating and guiding the sound development of capital under a socialist system is not only a significant theoretical innovation rooted in Chinese…

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Abstract

Purpose

Regulating and guiding the sound development of capital under a socialist system is not only a significant theoretical innovation rooted in Chinese practice by the Communist Party of China (CPC) but also a major practical exploration for the smooth progression of the party and the nation’s modernization endeavors.

Design/methodology/approach

Adopting an analytical framework that unifies theoretical, historical and practical logic, this paper explores the rationality of capital’s existence under a socialist system based on the notion that capital is a materialized production relationship. It also examines the staged evolution of capital theory under socialism, highlighting the great leap forward realized by the capital theory of socialism with Chinese characteristics.

Findings

With the CPC Central Committee’s deepening understanding of the capital patterns in the socialist system, capital-related policies have undergone a developmental journey through several stages – from the negation and elimination of capital to the support and operation of capital and finally to the stage of regulating and guiding capital. This reflects the reciprocal and complementary relationship between capital theory and capital policy.

Originality/value

In response to issues such as the disorderly expansion of capital in the new development stage, it is imperative to actively promote a practical pathway safeguarded by the adherence to Party leadership, guided by the capital theory of socialism with Chinese characteristics and targeted toward common prosperity.

Details

China Political Economy, vol. 7 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

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Article
Publication date: 3 May 2019

Pandia Rajan Jeyaraj and Edward Rajan Samuel Nadar

The purpose of this paper is to focus on the design and development of computer-aided fabric defect detection and classification employing advanced learning algorithm.

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Abstract

Purpose

The purpose of this paper is to focus on the design and development of computer-aided fabric defect detection and classification employing advanced learning algorithm.

Design/methodology/approach

To make a fast and effective classification of fabric defect, the authors have considered a characteristic of texture, namely its colour. A deep convolutional neural network is formed to learn from the training phase of various defect data sets. In the testing phase, the authors have utilised a learning feature for defect classification.

Findings

The improvement in the defect classification accuracy has been achieved by employing deep learning algorithm. The authors have tested the defect classification accuracy on six different fabric materials and have obtained an average accuracy of 96.55 per cent with 96.4 per cent sensitivity and 0.94 success rate.

Practical implications

The authors had evaluated the method by using 20 different data sets collected from different raw fabrics. Also, the authors have tested the algorithm in standard data set provided by Ministry of Textile. In the testing task, the authors have obtained an average accuracy of 94.85 per cent, with six defects being successfully recognised by the proposed algorithm.

Originality/value

The quantitative value of performance index shows the effectiveness of developed classification algorithm. Moreover, the computational time for different fabric processing was presented to verify the computational range of proposed algorithm with the conventional fabric processing techniques. Hence, this proposed computer vision-based fabric defects detection system is used for an accurate defect detection and computer-aided analysis system.

Details

International Journal of Clothing Science and Technology, vol. 31 no. 4
Type: Research Article
ISSN: 0955-6222

Keywords

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