Technological developments in electronic finance have changed the nature and delivery of financial services in recent years, especially through the use of online banking, online trading and brokerage services. This report reviews the developments in e-finance and analyses the implications for consumers, financial service providers and governments. Issues discussed include: the impact on competition within the financial services industry; how financial sector policies in emerging markets are affected; public policy and regulatory requirements.
Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions' liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions--less corruption, improved law and order, legal system, and bureaucracy--do. The authors find these results to be relatively robust to estimation techniques, including controlling for the effects of a poor institutional environment on the likelihood of financial crisis and the size of fiscal costs. Their results suggest that countries should use strict policies to resolve a crisis and use the crisis as an opportunity to implement medium-term structural reforms, which will also help avoid future systemic crises. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study financial crisis resolution"--World Bank web site.
Little comparative knowledge exists on how the radical transformations that constitute the late 20th century’s ‘era of globalization’ have affected gender relations and their particular structural manifestation on the labour market, thereby neglecting a core element of the changes and problems currently underway. This book analyses how converging tendencies in the life courses and employment careers of men and women interfere with developments of increasing diversity and instability, both within and between sexes, as economies move from ‘industrial’ to ‘global’. Using the shifting welfare regimes of West Germany and Denmark as illustrative evidence of how national context ‘genders’ the risks and chances associated with globalisation and increasing employment flexibility, this study provides a timely, comprehensive longitudinal analysis of the gendered career consequences of recent political and economic change.
The European Union (EU) is a key partner for African regional organizations and a major promoter of economic and political integration in the region. Several studies have interpreted the EU's role in Africa as either a self-interested hegemonic actor or as a value oriented normative power. In this volume, Daniela Sicurelli challenges these views by taking a closer look at Europe's policies towards Sub-Saharan Africa in the area of peacekeeping, trade and development, and environmental protection. Using fresh empirical evidence, including interviews with both European and African officials, she argues that the EU is far from becoming a unitary player in Africa. Lacking a clear strategy and coherent normative framework, the EU should be considered a multi-level actor, where national and supranational institutions have different interests and push forward contrasting views of what role Europe should play in Africa. The ability of single institutions to frame an issue as requiring either intergovernmental or supranational procedures appears crucial for shaping the content of European Africa policies. An original contribution to the growing literature on the EU as an international actor, this book is extremely useful to scholars, researchers and policy-makers demanding critical work in the field of EU-Africa policy.
Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions' liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions--less corruption, improved law and order, legal system, and bureaucracy--do. The authors find these results to be relatively robust to estimation techniques, including controlling for the effects of a poor institutional environment on the likelihood of financial crisis and the size of fiscal costs. Their results suggest that countries should use strict policies to resolve a crisis and use the crisis as an opportunity to implement medium-term structural reforms, which will also help avoid future systemic crises. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study financial crisis resolution"--World Bank web site.
Technological developments in electronic finance have changed the nature and delivery of financial services in recent years, especially through the use of online banking, online trading and brokerage services. This report reviews the developments in e-finance and analyses the implications for consumers, financial service providers and governments. Issues discussed include: the impact on competition within the financial services industry; how financial sector policies in emerging markets are affected; public policy and regulatory requirements.
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