scholarly journals Woe to the vanquished? State, ‘foreign’ banking and financial development in Southern Italy in the nineteenth century

2020 ◽  
Vol 27 (3) ◽  
pp. 340-360
Author(s):  
Maria Stella Chiaruttini
Keyword(s):  
Financial Development ◽  
Southern Italy ◽  
Banking System ◽  
Capital City ◽  
Credit Institution ◽  
The South ◽  
Private Economy ◽  
Italian Market ◽  
New Statistics ◽  
Foreign Banking

After Southern Italy became part of a new, national state in 1860, its financial sector was radically transformed under Piedmontese influence. This article challenges the conventional wisdom that the aggressive penetration of a Northern credit institution, the future Bank of Italy, into the South following unification harmed the local banking system and highlights instead its transformative role in modernising and deepening regional credit markets. On the basis of new statistics, banking and political records, this contribution shows that the introduction of ‘foreign’ banking from Northern Italy under the auspices of a national, constitutional government resulted in a financial revolution and a democratisation of credit supply to the advantage of the whole South. Public banking under the Bourbons had privileged the needs of an absolute government over those of the private economy and of the capital city over those of the rest of the country, retarding financial development. Credit undersupply and regional fragmentation could only be overcome through the integration of the South within a larger Italian market, in which, however, the lion's share went to a predominantly Northern institution.

scholarly journals Subsidence at the "Trébol" of Quito, Ecuador: an indicator for future disasters?

2015 ◽  
Vol 372 ◽  
pp. 151-155 ◽  
Author(s):  
T. Toulkeridis ◽  
D. Simón Baile ◽  
F. Rodríguez ◽  
R. Salazar Martínez ◽  
N. Arias Jiménez ◽  
...  
Keyword(s):  
The State ◽  
Capital City ◽  
Fear Of Recurrence ◽  
The South ◽  
Sewer System ◽  
State Of Emergency ◽  
High Importance ◽  
Traffic Jams ◽  
South Central ◽  
The City

Abstract. A sinkhole of great proportions was produced in one of the most trafficked zones of Quito. Constructed in the late sixties, this area is of high importance in solving the traffic jams of the capital city. The sinkhole called "El Trebol" started to be generated in the form of a crater, reached finally dimensions of approximately 120 m in diameter and some 40 m of depth, where at its base the river Machangara appeared. The generation of this sinkhole paralyzed the traffic of the south-central part of the city for the following weeks and therefore the state of emergency was declared. Soon the cause of the sinkhole was encountered being the result of the lack of monitoring of the older subterranean sewer system where for a length of some 20 m the concrete tunnel that canalized the flow of the river collapsed generating the disaster. The collapse of this tunnel resulted from the presence of a high amount of trash floating through the tunnel and scratching its top part until the concrete was worn away leaving behind the sinkhole and the fear of recurrence in populated areas. The financial aspects of direct and indirect damage are emphasized.

Liberalizzazione, concentrazione e diversificazione del sistema bancario italiano

2009 ◽  
pp. 7-19
Author(s):  
Angelo Baglioni
Keyword(s):  
Interest Rate ◽  
Southern Italy ◽  
Banking System ◽  
Jel Classification ◽  
European Market ◽  
Competitive Pressure ◽  
Defensive Strategy ◽  
Concentration Process ◽  
Deep Process ◽  
Single European Market

- Starting from the early nineties, the Italian banking system has undergone a deep process of deregulation, consolidation and diversification. The deregulation process has enabled Italian banks to enter new - geographical and product - markets. The single European market has introduced a competitive challenge from abroad. The concentration process may be explained on several grounds. Smaller banks have aimed at reaching a more efficient scale of production. Deals involving banks located in Northern and Southern Italy had a prudential rationale, given the weakness of Southern banks. Large banks have presumably pursued a defensive strategy, due to the threat of take-overs from abroad. An important role has been played by the moral suasion exerted by the Bank of Italy. Deregulation and consolidation have come along together with an increase of the competitive pressure, as shown by the decline of interest rate margins. Banks have reacted by diversifying their business, in order to expand their sources of revenue and to create switching costs for their customers (by selling bundles of services). Keywords: banks, deregulation, consolidation, competition Parole chiave: banche, liberalizzazione, concentrazione, concorrenza Jel Classification: G21 - L89

Financial Crisis, Globalisation and Development in Africa

2020 ◽  
Vol 56 (1) ◽  
pp. 89-104
Author(s):  
Simplice A. Asongu ◽  
Joseph Nnanna
Keyword(s):  
Financial Development ◽  
Method Of Moments ◽  
Banking System ◽  
System Efficiency ◽  
African Countries ◽  
Jel Codes ◽  
Crisis Period ◽  
Generalised Method Of Moments ◽  
The Impact ◽  
Financial Globalisation

This study unites two streams of research by simultaneously focusing on the impact of financial globalisation on financial development and pre- and post-crisis dynamics of the investigated relationship. The empirical evidence is based on 53 African countries for the period 2004–2011 and Generalised Method of Moments. The following findings are established. First, whereas marginal effects from financial globalisation are positive on financial dynamics of activity and size, corresponding net effects (positive thresholds) are negative (within range). Second, while decreasing financial globalisation returns are apparent for financial dynamics of depth and efficiency, corresponding net effects (negative thresholds) are positive (not within range). Third, financial development dynamics are more weakly stationary and strongly convergent in the pre-crisis period. Fourth, the net effect from the: pre-crisis period is lower on money supply and banking system efficiency; post-crisis period is positive on financial system efficiency and pre-crisis period is positive on financial size. JEL Codes: F02, F21, F30, F40, O10

scholarly journals Central Malagasy

2019 ◽  
pp. 1-34
Author(s):  
Penelope Howe
Keyword(s):  
Central Area ◽  
Capital City ◽  
The South ◽  
East African ◽  
East African Coast ◽  
Austronesian Language ◽  
Regional Dialects ◽  
African Coast ◽  
Central Highlands ◽  
Primary Basis

Malagasy is the westernmost Austronesian language and belongs to the South East Barito subgroup of the Western Malayo-Polynesian subfamily (Dahl 1988, Rasoloson & Rubino 2005). Dahl (1951) presents widely-accepted evidence that Malagasy is most closely related to the Indonesian language Ma’anyan of Kalimantan (South Borneo). The term Malagasy refers to a macrolanguage (Lewis, Simons & Fennig 2014), with many regional dialects distributed throughout the island of Madagascar, which lies off the east African coast across from Mozambique (see Figure 1) and has a population of over 22 million (INSTAT 2018). The central area of the country, or the ‘Central Highlands’, is a plateau of up to 5000 feet and includes the capital city of Antananarivo, with a metropolitan population of about four million. The dialect historically spoken in and around Antananarivo is called Merina, and it served as the primary basis for development of the standardized, institutional language referred to as Malagasy Ofisialy ‘Official Malagasy’ (OM).

Southern Italy may be unable to cope with COVID-19

2020 ◽  
Keyword(s):  
Southern Italy ◽  
The South ◽  
Content Type

Headline ITALY: The south could be overwhelmed by COVID-19

A Norman Finale of the Exultet and the Rite of Sarum

1941 ◽  
Vol 34 (2) ◽  
pp. 129-143
Author(s):  
Ernst H. Kantorowicz
Keyword(s):  
Southern Italy ◽  
The South ◽  
The Subject

The peculiarities of the Exultet in the South-Italian Church have often been the subject of scholarly investigation. Quite recently, several new studies have been devoted to this famous and indeed very beautiful liturgical prose hymn which was sung on the Saturday of Holy Week. Among these peculiarities, the practice, for example, of writing the hymn on a long scroll and of embellishing the text with illuminations was observed nowhere but in Southern Italy. This scroll, as is well known, was intended to fall more and more over the ambo so that, as the archdeacon sang the text, the congregation could at the same time gaze at the illustrations to the respective parts of the prayer. Word and illustration thus supported each other in a singular way.

The production of a new Eurasian capital on the Kazakh steppe: Architecture, urban design, and identity in Astana

2013 ◽  
Vol 41 (4) ◽  
pp. 590-605 ◽  
Author(s):  
Bernhard Köppen
Keyword(s):  
Urban Design ◽  
Nation Building ◽  
Critical Assessment ◽  
Capital City ◽  
Economic Prosperity ◽  
The South ◽  
Regional Center ◽  
The Republic ◽  
Contemporary Architecture ◽  
The City

In December 1997, the Republic of Kazakhstan officially proclaimed that the city of Astana would be its new capital. The decision to transfer the seat of government from the city of Almaty in the south to the more centrally located Astana was connected to the process of nation building in a multi-ethnic society where the titular nation represents little more than half of the population. Efforts to transform the rather remote regional center, Akmola (later renamed Astana) into a modern capital city have been underway since the late 1990s. One important component of this transformation is the idea of building a “metabolic” and sustainable “Eurasian” city. As the symbolic center of the whole country, this new capital would function as a showpiece of Kazakh culture and identity. The city would also become a symbol of economic prosperity and the regime's geopolitical vision. While the government's intensions are expressed rather openly, it remains unclear to what extent these politically verbalized leitmotivs are actually being realized through contemporary architecture and structure. This article offers a critical assessment of what has been achieved to date and argues that the production of the new Kazakhstani capital has often failed to translate rhetoric into reality.

scholarly journals The Effect of Inflation on Financial Development Indicators in Iran (2000–2015)

2017 ◽  
Vol 12 (2) ◽  
pp. 53-62 ◽  
Author(s):  
Mahyar Hami
Keyword(s):  
Financial Development ◽  
Time Series Data ◽  
Banking System ◽  
Series Data ◽  
Vector Error Correction ◽  
Development Indicators ◽  
Vector Error ◽  
Equilibrium Relationship ◽  
Proposed Model ◽  
Integration Test

Abstract Inflation and financial development are among the factors that influence economic growth and the interaction between them is a major issue in developing countries. The aim of this paper is to investigate the effect of inflation on financial development indicators in Iran using seasonal data over 2000-2015. To achieve the research objectives, time series data were collected from World Bank and seasonal inflation rate, with 5 financial development indicators were used to measure the research variables. Then I applied Johansen Co-integration Test and Vector Error Correction Model to estimate the proposed model. The results show that inflation has a negatively significant effect on financial depth and also positively significant effect on the ratio of total deposits in banking system to nominal GDP in Iran during the observation period. Also the existence of an equilibrium relationship between inflation and other 3 indicators of Iran`s financial development used in this study was rejected.

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