FINANCIAL CRISES,OUTPUT LOSSES,AND THE ROLE OF STRUCTURAL REFORMS

Financial crises take a heavy toll on output growth. We assess the role of structural reforms in reducing the output losses resulting from financial crises across advanced economies, emerging and developing economies, and low‐income developing economies. We also revisit the role of macroeconomic policies in this context. The impact of crises on output growth differs between types of crises and economies, thus warranting sample splits along these lines. Some but not all reforms and policies help to reduce the output losses of crises in the medium term, highlighting the need not to overgeneralize the effectiveness of reforms and policies. Further research is warranted to further explore the heterogeneity in the impact of financial crises on output growth and to better understand when and how specific structural reforms and macroeconomic policies can mitigate the output costs of financial crises. (JEL E32, E44, E63, G28, O47)     

Predictors of Cambodian parents’ perceptions of corporal punishment

This cross‐sectional study was conducted to examine the predictors of parents’ positive perceptions of using corporal punishment on their children. We investigated whether there is a gender difference in the use of corporal punishment according to parents’ gender and socioeconomic variables and what factors predict Cambodian parents’ positive perceptions of the use of corporal punishment toward sons and daughters. Cambodian parents hold different views on raising boys versus girls. Younger parents with more children, limited education, low socioeconomic status, unemployed, living in rural areas, and parents who hold positive perceptions of spousal abuse of women were more likely to approve of the use of corporal punishment. Our results present implications for social work practice and policy, particularly in child welfare in Cambodia. Most importantly, in order to prevent the use of corporal punishment on children in the home, the government of Cambodia as well as domestic and international organizations need to make more active efforts to promote parenting education.