scholarly journals SMEs with legally restricted banking access: evidence from the US marijuana industry

2021 ◽  
Author(s):  
Markus Merz ◽  
Jan Riepe
Keyword(s):  
Institutional Environment ◽  
Legal Protection ◽  
Developed Countries ◽  
The United States ◽  
Developed Country ◽  
Banking Services ◽  
Developed Markets ◽  
The Us ◽  
Transaction Services ◽  
Method Approach

AbstractThis paper examines how legally restricted access to banking services affects small and medium-sized enterprises (SMEs) in a highly developed country. Using a mixed-method approach, we examine the unique situation of the US marijuana industry. The industry benefits from the superior institutional environment in terms of legal protection and the labor market of the United States. However, due to conflicting state and federal laws it has no legal access to banking. We find significant value effects around three major events that affected future access to banking. These results indicate that banking access remains desirable for the marijuana industry. A survey taken by marijuana SMEs provides insights into what banking services are considered most valuable. We find that marijuana SMEs have problems to obtain financing and handle their transactions largely in cash, resulting in transaction inefficiency and high security concerns. Thereby, we shed light on the value of banks for SMEs in developed countries. We complement the literature on financial transaction services by highlighting the value for SMEs in developed markets.

Capital budgeting practices: evidence from Korea

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Taeyeon Kim ◽  
Hongbok Lee ◽  
Kwangwoo Park ◽  
Doug Waggle
Keyword(s):  
Best Practices ◽  
Capital Budgeting ◽  
Developed Countries ◽  
Financial Advisors ◽  
Cost Of Equity ◽  
Content Type ◽  
Capital Costs ◽  
Developed Markets ◽  
The Us ◽  
Ceo Age

PurposeThe authors present the results of a survey on how Korean firms evaluate new projects and estimate their capital costs. The authors report how Korean firms’ capital budgeting practices compare to other developed countries and to best practices in the field of finance.Design/methodology/approachThe authors survey CFOs of major Korean firms on their capital budgeting practices. The authors then compare the results against the US and European firms and best practices of leading firms and financial advisors.FindingsThe authors find that the capital budgeting practices of Korean firms are as strong as or stronger than firms in developed markets. A majority of Korean firms use best practices techniques such as NPV, IRR and the CAPM for project evaluation and cost of equity estimation. Chaebol affiliation results in somewhat stronger capital budgeting practices. The authors also find that other factors, such as company size, leverage, CEO age and CEO education, impact capital budgeting practices.Originality/valueThis paper is the first article that comprehensively examines Korean firms' capital budgeting practices.

scholarly journals Family Matters: Claiming Rights across the US-Mexico Migratory System

2018 ◽  
Vol 6 (2) ◽  
pp. 167-180 ◽  
Author(s):  
Jacqueline Maria Hagan ◽  
Ricardo Martinez-Schuldt ◽  
Alyssa Peavey ◽  
Deborah M. Weissman
Keyword(s):  
San Francisco ◽  
Child Support ◽  
Legal Protection ◽  
The United States ◽  
Family Separation ◽  
Return Migrants ◽  
The Us ◽  
Binational Families ◽  
Us Immigration ◽  
Family Unity

The Immigration and Nationality Act of 1952 (INA) created an immigration system favoring the immigration of spouses, children, and parents of US citizens, thereby establishing family unity as the cornerstone of US immigration policy. Despite this historical emphasis on family unity, backlogs and limited visas for non-immediate relatives of US citizens and legal permanent residents, the militarization of the US-Mexico border, punitive measures for those who enter without inspection, such as the forced separation of children from their parents at the US border, and an aggressive policy of deportation have made it more difficult for members of Mexican binational families to unify. How do members of Mexican binational families manage the hardships that result from US immigration policies that prolong and force family separation? Immigrants and return migrants alike may not be aware of their rights and the legal remedies that exist to enforce them. Structural barriers such as poverty, legal status, fear of deportation, lack of proficiency in English, and lack of familiarity with government bureaucracies no doubt prevent many migrants in the United States and return migrants in Mexico from coming forward to request legal assistance and relief in the courts. Despite these barriers, when it comes to family matters, members of some Mexican binational families can and do assert their rights. In this article, we analyze an administrative database of the Department of Legal Protection of the Mexican consular network that documents migrant legal claims resulting from family separation, along with findings from 21 interviews with consular staff and community organizations in three consular jurisdictions — El Paso, Raleigh, and San Francisco — to investigate the sociolegal processes of claims. Our investigation centers on the mediating role the Mexican state — via its consular network — has developed to assist binational families as they attempt to assert their rights and resolve child support and child custody problems resulting from prolonged and forced family separation. We find that the resolution of binational family claims in part depends on the institutional infrastructure that has developed at local, state, and federal levels, along with the commitment and capacity of the receiving and sending states and the binational structures they establish. These binational structures transcend the limitations of national legal systems to achieve and implement family rights and obligations across borders.

Are We All Compressed Developers?

2020 ◽  
pp. 205-229
Author(s):  
D. Hugh Whittaker ◽  
Timothy J. Sturgeon ◽  
Toshie Okita ◽  
Tianbiao Zhu
Keyword(s):  
United States ◽  
Developed Countries ◽  
The United States ◽  
Developed Country ◽  
Developed Economies ◽  
Socioeconomic Changes ◽  
Rise Of China ◽  
The Rise Of China ◽  
Red Queen Effect ◽  
Queen Effect

Compressed-development influences increasingly flow from developing to developed countries. Reversing our lens to look at the United States and Japan, we observe that the technological and organizational changes that have spurred compressed development in recent developers are also responsible for changes in industry structure, rising inequality, and employment duality in developed economies. A ‘Red Queen’ effect sees developed countries running faster and undertaking parallel socioeconomic changes to stay in the same privileged place. In some ways ‘we are all compressed developers now’. Looking ahead, and returning to our dyadic pairs, the chapter further considers how the ‘digital economy’ may affect developing–developed country interrelations, and whether we are finally entering an age of ‘great convergence’ with the rise of China and a more multipolar economic and geopolitical structure.

Lessons Learned from the Canada–China FIPA for the US–China BIT and beyond

2019 ◽  
pp. 116-141 ◽  
Author(s):  
Kyle Dylan Dickson-Smith
Keyword(s):  
United States ◽  
Legal Protection ◽  
The United States ◽  
International Investment ◽  
Economic Benefits ◽  
Lessons Learned ◽  
The European Union ◽  
Investment Protection ◽  
The Us ◽  
Investment Agreements

Key lessons can be made from analysing a unique and recent BIT, the Canada–China Foreign Investment Protection Agreement (FIPA), in order better to predict and identify the opportunities and challenges for potential BIT counterparties of China (such as the United States, the European Union (EU), India, the Gulf Cooperation Council, and Columbia). The Canada–China FIPA and the anticipated US–China BIT (and EU–China BIT) collectively fall into a unique class of investment agreements, in that they represent a convergence of diverse ideologies of international investment norms/protections with two distinct (East/West) underlying domestic legal and economic systems. The purpose of this chapter is to appreciate and utilize the legal content of the Canada–China FIPA in order to isolate the opportunities and challenges for investment agreements currently under negotiation (focusing on the US–China BIT). This analysis is conducted from the perspective of China’s traditional BIT practice and political–economic goals, relative to that of its counterparty. This chapter briefly addresses the economic and broader diplomatic relationship between China and Canada, comparing that with the United States. It then analyses a broad selection of key substantive and procedural obligations of the Canada–China FIPA, addressing their impact, individually and cumulatively, to extract what lessons can be learned for the United States (US) and other negotiating parties. This analysis identifies the degree of investment liberalization and legal protection that Canada and China have achieved, and whether these standards are reciprocally applied. The analysis is not divorced from the relevant political economy and negotiating position between China and the counterparty and the perceived economic benefits of each party, as well as any diplomatic sensitive obstacles between the parties. While this chapter does not exhaustively analyse each substantive and procedural right, it provides enough of a comprehensive basis to reveal those challenges that remain for future bilateral negotiations with China.

On the Legality of the United States Action of Terminating India’s GSP Status

2020 ◽  
Vol 55 (1) ◽  
pp. 119-129
Author(s):  
R. Rajesh Babu
Keyword(s):  
Developing Countries ◽  
Dispute Settlement ◽  
Developed Countries ◽  
The United States ◽  
Appellate Body ◽  
Generalized System Of Preferences ◽  
Wto Dispute Settlement ◽  
The Us ◽  
Developmental Opportunities ◽  
Enabling Clause

Since the US Presidential Proclamation terminating India status as a Generalized System of Preferences (GSP) beneficiary with effect from 5 June 2019, questions are raised on the WTO legitimacy of such an action. The US measure, which appears to have a punitive element—a move precipitated by lack of reciprocity from India by not providing ‘equitable and reasonable access’ for US products in Indian markets—challenges the fundamentally premise of the GSP schemes. Since the GSP schemes are established to provide economic and developmental opportunities for developing countries, and once established must be administered as per the 1979 General Agreement on Tariffs and Trade Enabling Clause, meaning it must be on a ‘generalised’, ‘non-reciprocal’ and ‘non-discriminatory’ basis, can India raise a legitimate challenge against the US action at the WTO Dispute Settlement Body? Or can the GSP schemes, being voluntary and unilaterally administered, be structured by developed countries as trade policy tools with stringent trade and non-trade conditionalities? The decision of the Appellate Body in European Communities—Tariff Preferences, the contested nature of the Enabling Clause and the heterogeneous nature of developing countries at the WTO makes the interpretation knotty. In this context, this article provides a brief comment on the legal basis of the Enabling Clause in the WTO framework and the legitimacy of the US action of termination of India from the beneficiary status. Keeping aside the legal question, the author is also of the view that time is ripe for India to consider ‘graduating’ itself from such preferential arrangements and engage in binding obligations that are reciprocal and sustainable. JEL Codes: K33, O24

The Potential Preventive Effects of Vitamins for Cataract and Age-Related Macular Degeneration

1999 ◽  
Vol 69 (3) ◽  
pp. 198-205 ◽  
Author(s):  
Jacques
Keyword(s):  
Macular Degeneration ◽  
Developed Countries ◽  
The United States ◽  
Epidemiologic Studies ◽  
Age Related Macular Degeneration ◽  
Visual Disability ◽  
Epidemiologic Evidence ◽  
Age Related ◽  
The Us ◽  
Nutritional Antioxidants

Age-related cataract and age-related macular degeneration (AMD) are important public health problems. Approximately 50% of the 30 to 50 million cases of blindness worldwide result from unoperated cataract. In the US and other developed countries AMD is the leading cause of blindness, but age-related cataract remains the leading cause of visual disability. Age-related cataract and AMD represent an enormous economic burden. In the United States more than 1.3 million cataract extractions are performed annually at a cost of approximately $ 3.5 billion. Much of the experimental research on the etiology of cataract and AMD has focused on the role of nutritional antioxidants (vitamin C, vitamin E, and carotenoids). Evidence from epidemiologic studies support a role for nutritional antioxidants in delaying the onset of these age-related vision disorders. Although it is not yet possible to conclude that antioxidant nutrients have a role in prevention of cataract or AMD, a summary of the epidemiologic evidence suggests that it is prudent to consume diets high in vitamins C and E and carotenoids, particularly the xanthophylls, as insurance against the development of cataract and AMD.

scholarly journals Failure to detect infection by oral polio vaccine virus following natural exposure among inactivated polio vaccine recipients

2007 ◽  
Vol 136 (2) ◽  
pp. 180-183 ◽  
Author(s):  
H. E. GARY ◽  
B. SMITH ◽  
J. JENKS ◽  
J. RUIZ ◽  
W. SESSIONS ◽  
...  
Keyword(s):  
Oral Polio Vaccine ◽  
Developed Countries ◽  
The United States ◽  
Vaccine Virus ◽  
Susceptible Population ◽  
Inactivated Polio Vaccine ◽  
Polio Vaccine ◽  
Natural Exposure ◽  
The Us ◽  
Protection Against Infection

SUMMARYWhile oral polio vaccine (OPV) has been shown to be safe and effective, it has been observed that it can circulate within a susceptible population and revert to a virulent form. Inactivated polio vaccine (IPV) confers protection from paralytic disease, but provides limited protection against infection. It is possible, then, that an IPV-immunized population, when exposed to OPV, could sustain undetected circulation of vaccine-derived poliovirus. This study examines the possibility of polio vaccine virus circulating within the United States (highly IPV-immunized) population that borders Mexico (OPV-immunized). A total of 653 stool and 20 sewage samples collected on the US side of the border were tested for the presence of poliovirus. All samples were found to be negative. These results suggest that the risk of circulating vaccine-derived poliovirus is low in fully immunized IPV-using populations in developed countries that border OPV-using populations.

scholarly journals Ewolucja przemysłu zaawansowanej technologii i sektora teleinformatycznego (ICT) w Finlandii

2009 ◽  
Vol 13 ◽  
pp. 122-132
Author(s):  
Krzysztof Stachowiak
Keyword(s):  
Information Society ◽  
New Technologies ◽  
Raw Materials ◽  
Developed Countries ◽  
The United States ◽  
High Tech ◽  
Forest Industry ◽  
Developed Country ◽  
The Past ◽  
Knowledge Based Economy

The paper presents in a broad outline the main characteristics of the evolution of the Finnish high-tech industry and ICT sector within the context of general changes in industry and the national economy. In the last decades of the 20th century Finland dynamically developed a knowledge-based economy and became one of the leaders of the information society. A spectacular manifestation of this is the position of the country in global competitiveness rankings, where Finland has occupied a top position for several years, sometimes even being ahead of the United States. The so-called ‘Finnish model of information society’ is characterised, among others, by a significant growth in knowledge-intensive industries and a complex system of research and development support. However, all those changes were dependent on the previous development path of the country. The structure of Finnish industry was rather one-sided until the 1980s, when knowledge- and expertise-intensive production started to catch up with the level of manufacturing dominated by raw materials, capital and energy. For a long time, Finland specialised in the forest industry and in the processing of metals. A new sector that has developed during the past decades is electronics and, especially, the manufacturing of communication devices. Furthermore, the economy has changed more dramatically in Finland than in any other developed country over the same period of time. Industries have become technology-intensive and production is strongly characterised by specialisation. Finland has become the most specialised country in information and communication technology in the world, and this specialisation trend is continuing. The forest industry and other traditional industries rely more and more on the new technologies and state-of-the-art knowledge. In Finland, industrialisation started later than in other countries, but it was very rapid. Industrial production and exports grew faster than the rest of the economy in the 1990s, and the structure of exports diversified. Unlike other developed countries, Finland “re-industrialised” in the 1990s. The contribution of industry to the total volume of production and employment has been higher in Finland than in other advanced economies in the past couple of years.

scholarly journals Is the Resource Curse Thesis Affect Only Least Developed Countries? Examples from Resource-Rich Developed Countries

2021 ◽  
Author(s):  
Harun Bal ◽  
Berk Palandökenlier
Keyword(s):  
Natural Resources ◽  
Resource Curse ◽  
Economic Recession ◽  
Developed Countries ◽  
The United States ◽  
Dutch Disease ◽  
Least Developed Countries ◽  
Negative Effects ◽  
Developed Country ◽  
Indirect Transmission

Whether the Dutch Disease thesis, which is one of the best-known economic explanations on this subject, which puts forward the thesis that countries rich in natural resources can have negative effects on long-term economic growth, directly or indirectly, depending on the way they are used, is valid or not. tried to be demonstrated. The Dutch disease thesis is one of the main explanations for resource misfortune, emphasizing the negative effects of resource abundance on the national economy in countries with rich resource endowments and pointing to a paradox that economic conditions will be better in countries that do not have relatively little (or scarce) natural resources. is happening. Therefore, in our study, it is aimed to investigate whether resource richness causes an economic recession or not, especially for developed countries by considering indirect transmission channels. In this context, 11 developed countries such as Netherlands, Norway, Ireland, Germany, New Zealand, the United States of America, Canada, Australia, Poland, the United Kingdom, and Denmark, between 1990 and 2019, are based on the experiences of developed countries, which are especially rich in different sources of Dutch Disease syndrome. The country has been researched with static and dynamic panel analysis methods. As a result of the estimation, findings were found that the Dutch Disease was partially valid in terms of developed country samples throughout the sample period considered.

INNOVATIONS IN THE DPRK ECONOMY IN THE ERA OF KIM JONG-UN: RESULTS, THREATS AND RISKS

2020 ◽  
pp. 96-107
Author(s):  
Marina E. Trigubenko ◽  
◽  
Tatiana V. Lezhenina ◽  
Keyword(s):  
United States ◽  
Developed Countries ◽  
The United States ◽  
Kim Il Sung ◽  
Economic Relations ◽  
Economic Program ◽  
The Us ◽  
The World ◽  
National Ideology ◽  
The Republic

During the 8 years of the DPRK leadership, Kim Jong-un has been trying to position himself as a major reformer of the economy and the main military strategist in the development of the production of the latest intercontinental missiles directed towards the United States. Kim Jong-un presented the economic program for the first time at the VII Congress of the Labor Party of Korea in 2016 in the format of the three main tasks of the first five-year plan for 2016-2020. Tasks. To summarize Kim Jong-un's innovations in economic development and prove that they will be effective in the context of expanding trade and economic cooperation between the DPRK and China, Russia, as well as reducing the US sanctions policy against the DPRK. Methodology. The use of methods of scientific knowledge of the reformation of the economy of less developed countries. Results. The scale of economic innovations of Kim Jong-un and the influence of the legacy left by Kim Il-sung and Kim Jong-il from the position of national ideology are proved to be self-reliant (Juche), which complicates and slows down the transition of North Korea to the number of democratically developed countries of the world, political and trade-economic DPRK cooperation with the Republic of Korea. Findings. Today, China has always been and remains the main military-political ally and economic partner of the DPRK. Sino-US relations have become much more complicated as a result of the trade war and US accusations of concealing by China the real reasons for the appearance and spread of COVID-19 all over the world. The DPRK's economic relations with the United States do not develop after direct contact in 2019 of Donald Trump with Kim Jong-un. External and internal threats and risks in the use of innovations remain.

Sign in / Sign up

Export Citation Format

Share Document