Did the occurrence of systemic banking crises in the 1990s and 2000s significantly alter the behavior of banks in the Mercosur? The objective of this paper is to answer this question by analyzing changes in bank behavior after crises in the Mercosur region. To our knowledge, this is the first paper to apply the convergence methodology-which is common in the growth literature-to post-crisis bank behavior. Using a panel dataset of commercial banks during the period 1990-2006, we analyze the impact of crises on four sets of financial indicators of bank behavior-profitability, maturity preference, credit supply, and risk. The paper finds that most indicators of bank behavior, such as profitability, in fact revert to previous or more normal levels. However, a key finding of the paper is that private sector intermediation is significantly reduced for prolonged periods of time and that high levels excess liquidity persist well after the crisis.
This paper analyses the prudential liquidity management framework, in particular the quantitative indicators employed by the central bank of Rwanda in response to the domestic liquidity crisis in 2008/09. It emphasises that the quantitative methods used in the monitoring and assessment of systemic liquidity risk are inadequate because they did not signal the liquidity crises ex-post. There are quick gains to be made from augumenting the liquidity risk indicators with more dynamic liquidity stress tests so that compliance will be achieved through lengthening the maturities of both assets and liabilities on the balance sheet as opposed to simply holding more liquid assets. The paper recommends that policy emphasis shift toward reforms that strengthen systemic liquidity risk assesment, monetary policy implementation as well as improve the efficiency of Rwanda's financial system.
How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Case Studies in Sport Law, Second Edition, provides students and legal professionals with specific examples and perspectives of some of the most significant cases in sport law in an accessible tone that is free of legal jargon.
Case Studies in Sport Law, Second Edition, provides students with specific examples and perspectives of some of the most significant cases in sport law in an accessible tone that is free of legal jargon. The text is an ideal companion for non-law students who are seeking clarity and context for legal issues commonly encountered in sport management and sport law settings. The 87 cases provide real-life applications for students and scholars of sport management. This updated second edition of Case Studies in Sport Law contains one new case study to provide a more contemporary example while maintaining the most significant precedent cases. The text is easily incorporated as a supplement to course studies, especially for its recommended companion text, Introduction to Sport Law, Second Edition. These two texts were designed with the other in mind, and the structures match each other in order of topics presented so that students can easily cross-reference the two to obtain the best understanding of sport law. The 87 cases in Case Studies in Sport Law have been carefully curated by a team of experts in the field and represent many of the multifaceted aspects of sport law. Some of the areas covered in the text are school districts, colleges and universities, interscholastic and recreational programs, professional sport franchises, sporting goods manufacturers and trademarks, and governing bodies. This broad approach encourages students to understand the impact of legal issues on the sport industry, including many of the areas that students are hoping to pursue as a career. Case Studies in Sport Law offers condensed versions of each case as opposed to the full legal proceedings, which enables students to grasp key concepts of the case instead of wading through legal jargon. The cases are divided into the main topics that are most prevalent in sport law courses: agency law, antitrust law, constitutional law, contract law, employment law, intellectual property, labor law, products liability, risk management, statutory law, Title IX, tort law, and the U.S. legal system. This is an easy-to-follow format that allows instructors and readers easy selection of cases based on the topic at hand. In addition to the abridged court cases, each section provides introductory information to prepare students on the type of law that will be examined and key concepts to bear in mind while reading. Further, each case study ends with review questions that can test student comprehension, be used for review, and prompt in-class discussions. Answers to these review questions are in the instructor guide, which is free to course adopters and available at www.HumanKinetics.com/CaseStudiesInSportLaw. Litigation and lawsuits in sport are increasing; therefore, managers and operators must maintain a thorough understanding of legal practices. Case Studies in Sport Law is the ideal text to supplement a sport management or sport law class and bolster student comprehension of sport law issues, and it is a supreme reference in the professional library of all practitioners in college, high school, professional, and recreational sport settings.
From the commercial and industrial transformation of Osaka in the late 19th century to the role and status of Japanese multinationals in Europe: these two themes represent both the time-span and the breadth of this volume.
The financial crisis of 2007–8 and its aftermath have resulted in the role of money and finance within the global economy becoming the subject of considerable debate in public, policy and media circles. Global Finance is a timely look at the contemporary international financial environment, providing an introduction to this dynamic field of research for students and more advanced researchers. Drawing on economic geography, economic sociology and critical management, Hall offers a broad selection of case studies that ground critical theory in our current financial climate. Hall examines and reviews a wide range of critical approaches relating to the role of money and finance in the global economy, dividing these approaches into three key sections: Global finance and international financial centres. Global finance and the ‘real’ economy’. Global financial subjects and actors. The book takes a uniquely interdisciplinary approach which, combined with an international spread of case studies, makes this book highly valuable to a wide range of upper level undergraduate courses across the social sciences.
TOPICS IN THE BOOK Role of Cash Planning Technique on Financial Performance in Public Hospitals in Kajiado North Sub- County Effect of Cash Reconciliation on the Financial Performance of Commercial Banksin Kenya Effect of Liquidity on Financial Performance of Savings and Credit Societies in Kenya Effect of Ownership Structure on Performance of Financial Institutions
A first-ever account of one of the United Kingdom’s foremost ducal families and a history of the times in which they lived. Discover over two hundred years of fascinating history relating to one of Great Britain’s foremost aristocratic dynasties, the (Orde-) Powletts, for several generations the Dukes of Bolton. The family motto, Love Loyalty, references their devotion to the monarchy, but it applies equally to their hearts. Willing to risk all in the pursuit of love, this is the previously untold story of the Dukes of Bolton and their ancestors—the men and women who shaped the dynasty, their romances, triumphs, foibles, and tragedies.
Why do governments open their economies to multinational enterprises (MNEs)? Some argue democratic forces promote this openness, but many citizen groups view multinational business with suspicion. Using quantitative and qualitative analysis, Bauerle Danzman demonstrates how large domestic firms push to liberalize foreign direct investment (FDI) policies to ameliorate financing constraints, often to the detriment of smaller competitors. MNE entry comes with substantial risks, such as higher labour costs and increased productivity pressures, so well-connected domestic firms will prefer to limit access to local markets when the costs of debt financing are relatively low. However, when local environments make debt financing increasingly expensive, firms will be more willing to dismantle restrictive investment policies so that they may overcome liquidity constraints with equity financing from abroad. Bauerle Danzman includes comparative analysis of Malaysia and Indonesia from 1965–2016 to illustrate how governments undertake investment policy reform, and to indicate the interest groups that influence the outcomes of these regulatory changes.
Corporate Reorganisation Law argues that corporate reorganisation law is seen by market participants as a tool they can mobilise and adapt according to practices, logics, and identities in the of the financial and non-financial corporate markets. Thus changes in market practice, in the participants in the process, or in how the participants view their objectives, can significantly change the ways in which corporate reorganisation law is mobilised and adapted, even if the law has not undergone any reform. This book argues that corporate reorganisation law cannot be evaluated using a theoretical model in isolation from the wider institutional context in which corporate reorganisation law is mobilised and adapted by the participants to the process. In establishing the new methodology, the book undertakes a detailed analysis of six key changes in market practice, logic and identities in the financial and non-financial corporate fields. A comparative US/UK approach is adopted in analysing both the process of institutional change and the implications for law. This provides a fascinating lens through which to see how different institutional environments in the financial and non-financial markets in different jurisdictions are drawing together, and interacting with very different legal systems which were adapted to the distinct, original institutional environments in which they were developed. From this analysis important lessons for legal harmonisation efforts in Europe and in non-European jurisdictions are drawn out. The work emphasises the need to look at formal legal rules in combination with other, non-legal and legal institutions and argues that current reform debates in both the US and UK have suffered because scholars, practitioners, and policy makers have not started their evaluation of the case for reform by placing corporate reorganisation law in this wider institutional context. The book aims to fill this gap, and to provide a methodological approach for the future.
The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the nontradable sector, and hypothesizes that the slowdown is because firms operating in that sector are financially constrained. Empirical results based on macro and firm-level data from Indonesia, Malaysia, and Thailand (ASEAN-3) support this hypothesis.
The global economy is a complex system. This volume helps young people understand just how it works. In an approachable, interesting style, it explains what the global economy is and how it has evolved, how national economies are more interdependent than ever before, and how the banking system plays a role in how money flows over borders. Readers also learn how such economic interdependence can lead to global financial crises. For students interested in how money works, this volume is a great resource in helping them understand the potential and perils of a financially interdependent world.
How do Vietnamese households live and work? This book answers many of the most important questions, including: Who uses contraceptives? Which children get the most health care? Who are the poor, and why are they poor? Which families migrate? Why do so many rural workers change jobs? Where do households get credit? What drives rice production? The result of a unique collaboration between Vietnamese and international social scientists, the fourteen concise chapters paint a fascinating picture of household health and wealth. All are based on the Vietnam Living Standards Survey, the most accurate and complete source of data available. The use of statistical techniques in every chapter gives the book added coherence while providing depth and clarity to the analysis. A must for anyone with a serious interest in Vietnam, this highly readable book is also designed to serve as a reference work.
The Business of Decolonization serves to deepen our understanding of the end of the British empire, too often approached as if it was a process shaped and experienced exclusively by nationalist and imperial politicians and policy-makers. It explores British companies' experience of, and involvement in, developments leading to the transfer of power in Ghana, the former colony of the Gold Coast. The book demonstrates that businessmen developed strategies to cope with political change, reveals the extent of their involvement in nationalist politics, and highlights the contrasting responses of different companies to political and constitutional developments in the colony. Drawing on an extensive range of company, business association, personal, and official papers, the book focuses primarily on company activity. However, it also investigates relations between British firms and the colonial state on the eve of Ghanaian independence, and examines the place of British business interests in British policy.
The definitive guide to capital markets regulatory compliance Governance, Compliance, and Supervision in the Capital Markets demystifies the regulatory environment, providing a practical, flexible roadmap for compliance. Banks and financial services firms are under heavy regulatory scrutiny, and must implement comprehensive controls to comply with new rules that are changing the way they conduct business. This book provides a way forward, with clear, actionable guidance that strengthens governance at all levels, and balances supervisory and compliance requirements with the need to do business. From regulatory schemes to individual roles and responsibilities, this invaluable guide details the most pressing issues in today's financial services organizations, and provides expert advice. The ancillary website provides additional tools and guidance, including checklists, required reading, and sample exercises that help strengthen understanding and ease real-world implementation. Providing both a broad overview of governance, compliance, and supervision, as well as detailed guidance on application, this book presents a solid framework for firms seeking a practical approach to meeting the new requirements. Understand the importance of governance and "Tone at the Top" Distinguish the roles of compliance and supervision within a financial services organization Delve into the regulatory scheme applicable to broker dealers, banks, and investment advisors Examine the risks and consequences of inadequate supervision at the organizational or individual level The capital markets regulatory environment is complex and ever-evolving, yet compliance is mandatory. A solid understanding of regulatory structure is critical, but must also be accompanied by a practical strategy for effective implementation. Governance, Compliance, and Supervision in the Capital Markets provides both, enabling today's banks and financial services firms to get back on track and get back to business.
How did decolonization impact on Britain itself? And how did Britain manage its transition from colonial power to postcolonial nation? Sarah Stockwell explores this question principally via the history of the overseas engagements of key institutions that had acquired roles within Britain's imperial system: the Universities of Oxford and Cambridge, the Bank of England, the Royal Mint, and the Royal Military Academy Sandhurst. Using a huge range of fresh archival sources, the author shows how these institutions fashioned new roles at the end of empire, reconfiguring their activities for a postcolonial world and deploying their expertise to deliver technical assistance essential for the development of institutions in new Commonwealth states. This study not only pioneers an entirely new approach to the history of the British end of the British empire, but also provides an equally novel cross-sectoral analysis of institution-building during decolonization and highlights the colonial roots of British postcolonial aid.
This book systematically describes and evaluates the impact of energy cooperatives as a key driving force in the German energy transition toward a sustainability-oriented energy sector. Based on a comprehensive survey and three case studies, it provides an instructive overview of the overall dimensions and scope of energy cooperatives in Germany, and of their history, structure and current investment projects. The book not only contributes to the energy policy discourse in Germany, but also highlights the role of energy cooperatives to enable an international readership to explore their potential in other countries. Further, it makes a theoretical contribution toward substantially supplementing actor research in general, and enterprise research in particular, in the field of sustainability transitions science.
Revised and updated, this new edition clearly explains all the basic information everyone in this age group needs to begin planning their personal finances or enhance their current financial plan to yield better returns on their investments, including completely new material on. Topics Covered Internet banking Budget for spiraling food and fuel costs College loans management Effective 401(k) and retirement planning Debit and prepaid credit cards Tips about online car shopping Online college degrees and what they can get you Investment strategies for the next decade Home-based employment opportunities Financial effects of changing job Financial impact of marriage and children Home ownership options from building your own to townhouses and condos Online mortgage brokers Fully updated resources
This long-awaited second edition of Economy/Society offers an accessible introduction to the way social arrangements affect economic activity, showing that economic exchanges are deeply embedded in social relationships. It presents sociological answers to many important questions & encourages readers to view the economy through a sociological lens.
RESPATIALISING FINANCE ‘In Respatialising Finance Sarah Hall uses the internationalisation of the Chinese Renminbi (RMB) to work through a sympathetic conceptual and empirical critique of prevailing analyses of International Financial Centres (IFCs). Her conceptual (re)framing stresses the politics, institutions and economics of IFCs and will be essential reading for all social scientists interested in the dynamism of contemporary finance and financial centres.’ Professor Jane Pollard, Centre for Urban and Regional Development Studies (CURDS), Newcastle University, UK ‘Through detailed study of Chinese RMB internationalisation and combining analytical insights from economic geography, sociology, and international political economy, Sarah Hall shows why offshore networks anchored in territories such as the City of London are both core to global monetary and financial landscapes, and provide a key terrain for state power and politics.’ Professor Paul Langley, Department of Geography, Durham University, UK Respatialising Finance is one of the first detailed empirical studies of how and why London became the leading western financial centre within the wider Chinese economic and political project of internationalising its currency, the renminbi (RMB). This in-depth volume examines how political authorities in both London and Beijing identified the potential value of London’s international financial centre in facilitating and legitimising RMB internationalisation, and how they sought to operationalise this potential through a range of market-making activities. The text features original data from on-the-ground research in London and Beijing conducted with financial and legal professionals working in RMB markets and offers an original theoretical approach that brings economic geography into closer dialogue with international political economy. Recent work on territory illustrates how financial centres are not simply containers and facilitators of global financial flows – rather they serve as territorial fixes within the dynamic and crisis-prone nature of global finance.
As seen in Season Two of the HBO docuseries THE VOW They draw you in with the promise of empowerment, self-discovery, women helping women. The more secretive those connections are, the more exclusive you feel. Little did you know, you just joined a cult. Sex trafficking. Self-help coaching. Forced labor. Mentorship. Multi-level marketing. Gaslighting. Investigative journalist Sarah Berman explores the shocking practices of NXIVM, a cult run by Keith Raniere and many enablers. Through the accounts of central NXIVM figures, Berman uncovers how dozens of women seeking creative coaching and networking opportunities instead were blackmailed, literally branded, near-starved, and enslaved. Don't Call It a Cult is a riveting account of NXIVM's rise to power, its ability to evade prosecution for decades, and the investigation that finally revealed its dark secrets to the world.
The establishment of the ASEAN Economic Community (AEC) at end-2015 has brought into sharp focus the issue of financial and economic integration in the region. This paper takes stock of ASEAN’s financial integration and prospects. ASEAN integration could accelerate in the years ahead; it will likely be a safe, gradual process consistent with the “ASEAN way” of consensus decision-making. Properly phased and sequenced, closer financial integration has the potential to help increase real incomes and accelerate real convergence within ASEAN and narrow the region’s gap with advanced Asia. Realizing the promise of financial integration will require ASEAN countries to make long-term investments in financial infrastructure. Policymakers can draw on the experience of their more advanced peers and of other regions. Gradualism and safeguards should not be excuses for inaction or financial protectionism. Reliance on flexible policy frameworks and a strengthened and tested regional financial safety net should be part of the agenda. Closer engagement with the Fund could also help.
The American Promise if more teachable and memorable than any other U.S. survey text. The balanced narrative braids together political and social history so that students can discern overarching trends as well as individual stories. The voices of hundreds of Americans - from Presidents to pipe fitters, and sharecroppers to suffragettes - animate the past and make concepts memorable. The past comes alive for students through dynamic special features and a stunning and distinctive visual program. Over 775 contemporaneous illustrations - more than any competing text - draw students into the text, and more than 180 full - color maps increase students' geographic literacy. A rich array of special features complements the narrative offering more points of departure for assignments and discussion. Longstanding favorites include Documenting the American Promise, Historical Questions, The Promise of Technology, and Beyond American's Boders, representing a key part of a our effort to increase attention paid to the global context of American history.
An in-depth look at how politics and economics shape the relationship between Congress and the Federal Reserve Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence marshals archival sources, interviews, and statistical analyses to trace the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence.
Most people need medicine at some point in their lives. It's this fact that drives the pharmaceutical industry and makes it one of the most profitable industries today. So much goes into the making of a single pharmaceutical product before it even goes on the shelves, including research, manufacturing, clinical trials, and marketing. In this book, readers learn about these stages of development and what happens when a wonder drug turns out to have deadly side effects. They'll read facts and figures that will surprise them, such as the first drugstore dating back to the eighth century! Readers will also learn about the future of pharmaceuticals on the Internet and the effects of recent government guidelines. Business may be booming, but competition between pharmaceutical companies is fierce. They're always on the lookout for the next product that may change our lives forever.
Experience life in Britain’s “long eighteenth-century” with this collection of 25 real tales from history by the authors of An Infamous Mistress. Marvel at the Queen’s Ass, gaze at the celestial heavens through the eyes of the past, and be amazed by the equestrian feats of the Norwich Nymph. Journey to the debauched French court at Versailles, travel to Covent Garden and take your seat in a box at the theatre, and, afterwards, join the mile-high club in a new-fangled hot air balloon. Meet actresses, whores and high-born ladies, politicians, inventors, royalty, and criminals as we travel through the Georgian era in all its glorious and gruesome glory. In roughly chronological order, covering the reign of the four Georges (1714-1830), and set within the framework of the main events of the era, these tales are accompanied by over 100 stunning color illustrations.
In calling this book Beyond the Culture Tours, the authors bring the reader's attention to a set of issues in the teaching of literature and culture. The Culture Tour is an old concept in the West, dating back to the seventeenth century. The educated young man -- it was an exclusively male project at first -- was expected to round off his education with the Grand Tour. This meant a visit to the major sites on the European continent, particularly Greece and Rome, and occasionally to the Holy Land. The object was to have a first-hand view of these monuments, and looking at them alone brought people the name of being cultured or well-traveled. As the idea spread in the early part of the twentieth century, it allowed for the vicarious tour rather than the actual one. Students were asked to look at collections of art or reproductions of art work, listen to concerts or later recordings, and to read certain classical works drawn from what has come to be known as "the canon." The point of this form of education was that exposure to these works in itself formed a version of the Grand Tour. The basic idea behind the tour approach is that exposure to a culture in books is like travel to an ethnic theme park. This volume looks beyond the tour approach and reports on the results of a four-year project undertaken by a research team from the National Center for Research in the Learning and Teaching of Literature. Their intent was to study the teaching and impact of multicultural literature. The team examined how students approached texts that either came from their culture or from another, and how teachers perceived the students, the literature, and their role. This volume details various aspects of their findings.
Master's Thesis from the year 2010 in the subject Business economics - Investment and Finance, grade: Merit, University of Essex (Essex Business School), course: Finance and Investment, language: English, abstract: The dissertation explores the variables in relationship with returns in Islamic Banking.It also introduces the history and governance structure of Islamic Banks in the countries within the study. The analysis is based on 49 banks across countries of varying economic stance from the years 2004 to 2008. Important evidence was found showing significant relationship between market concentration and returns in Islamic banks in most of the countries being studied. These findings are consistent with our expectations. Overall, our results suggest that there are highly significant relationships between returns, capital ratios, market concentration and money supply, which can all be used in assessing performance.
The second edition of Bradt's award-winning guide to Panama, now fully revised and updated. It's the most thorough guide on the market covering eco-tourism, beaches, festivals, cities and much more besides.
Budgies, budgies, budgies. Beautiful and cheeky, delightful and enchanting, wild or tamed budgerigars are Australia's gift to the bird world. They sing and dance, and yawn as contagiously as humans. They are masters of mimicry. They grasp simple grammar, can count to six and have memories that belie their size. They've been coveted by royals and been companions to the great and famous as well as grannies in suburban kitchens around the world. They've been painted by masters, rendered in the finest porcelain and graced fashionable hats and earrings of the highest order. Their image has been used to sell whisky, stamps and laundry detergent and everything in between. Surprising, charming and occasionally alarming, Budgerigar is the book that at last opens the cage door on the incredible story of the little bird that grew.
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