Influencing the social impact of financial systems: alternative strategies

2020 ◽  
Vol 96 (2) ◽  
pp. 501-515
Author(s):  
Lee-Anne Sim
Keyword(s):  
Social Impact ◽  
Global Financial Crisis ◽  
Social Values ◽  
Financial Systems ◽  
The Social ◽  
Fresh Perspective ◽  
Strategic Options ◽  
Low Levels ◽  
The Global Financial Crisis

Abstract The social impact of the global financial crisis brought global and domestic financial systems into public focus. While over the last ten years governments have introduced a range of regulatory reforms, there are still low levels of public trust in financial sectors, and academics continue to express their concerns about financial systems and their desire for more influence. This is particularly the case for those framing their evaluation of the quality of financial systems in terms of social values. This article offers those seeking more influence over the social values of financial systems, a fresh perspective on their available strategic options for influencing outcomes. It argues that they should consider strategies aimed at making allies of financial sectors and regulators in influencing change. The main advantage of these alliance strategies is that they address key constraints to influence, as identified in existing scholarship, which are difficult to relax because they are tied to features inherent in financial systems. By addressing these constraints, alliance strategies could increase the likelihood that financial system outcomes align more closely with their preferred social values.

Financial crises and the limits of reforms

2021 ◽  
pp. 1-20
Author(s):  
Eileen Keller
Keyword(s):  
Financial Crises ◽  
Global Financial Crisis ◽  
Learning Approach ◽  
Main Argument ◽  
Financial Systems ◽  
Theoretical Approaches ◽  
The Social ◽  
The Global Financial Crisis

The introductory chapter presents the main themes of the book. It illustrates the recurrence of financial crises and discusses the contours and limits of the financial sector reforms implemented in response to the global financial crisis from 2007 to 2009. It spells out the specificities of banking and outlines the implications of the crisis for the future role of banks in so-called bank-based financial systems. The chapter spells out the empirical puzzle and discusses the shortcomings of existing theoretical approaches in accounting for it. The social learning approach and the methodology of the research on which the book builds are presented. The chapter summarizes the book’s main argument and closes with a short chapter outline.

scholarly journals Co-Design of Social Impact Domains with the Huntington’s Disease Community

Disabilities ◽  
2021 ◽  
Vol 1 (2) ◽  
pp. 116-131
Author(s):  
Natasha Layton ◽  
Natasha Brusco ◽  
Tammy Gardner ◽  
Libby Callaway
Keyword(s):  
Quality Of Life ◽  
Huntington's Disease ◽  
Huntington’S Disease ◽  
Design Process ◽  
Social Life ◽  
Social Inclusion ◽  
Social Impact ◽  
Service Providers ◽  
The Social

Background: For people living with or affected by Huntington’s Disease (HD) to experience a good quality of life, tailored support is required to meet physical, cognitive-behavioral, psychological, and social support needs. Substantial service and knowledge gaps regarding HD exist across support providers and service systems. Measuring unmet needs and what quality of life looks like is a fundamental step required to determine the social impact of service investment and provision. The objectives of this study were to validate and map a draft set of HD Social Impact Domains (HD-SID) against existing national and international outcome frameworks; and evaluate and finalize the HD-SID set using a co-design approach with people with lived experience of, and expertise in, HD. Methods: This research used a qualitative co-design process, with 39 participants across four stakeholder groups (people who were HD gene-positive, gene-negative family members, academics, peak organizations, and service providers) to: (i) map and verify the social life areas impacted by HD; (ii) undertake a rigorous three-phased, qualitative process to critically evaluate the draft HD-SID; and (iii) seek feedback on and endorsement of the HD-SID through this co-design process, with a final set of HD-SID identified. Results: Endorsed HD-SID comprised risks and safety (including housing stability, and economic sustainability) and social inclusion (including health and symptom management, physical wellbeing, emotional wellbeing, and building resilient relationships). Conclusions: Effective measurement of the impacts and outcomes for people with HD is informed by both extant measures and an understanding of the specific population needs. This qualitative co-design research demonstrates that HD-SID resonate with the HD community.

The challenges of inclusive growth for the developmental welfare state

2017 ◽  
Author(s):  
Huck-ju Kwon
Keyword(s):  
Social Policy ◽  
Financial Crisis ◽  
Economic Model ◽  
Global Financial Crisis ◽  
Policy Implications ◽  
What Works ◽  
Nation States ◽  
The Social ◽  
The One ◽  
The Global Financial Crisis

One of the biggest challenges for developing a new more productivist social policy approach has been the apparent absence of a new, post-neoliberal, economic model even after the global financial crisis. This chapter explores the social policy implications of the official ‘pragmatism’ of the new economic model with its ‘institutionalist’ emphases on nation states finding what works best in their own contexts rather than looking to the one size fits all approach of recent decades.

Towards a Universal Social Impact Metric for Engineered Products That Alleviate Poverty

2017 ◽  
Author(s):  
Phillip D. Stevenson ◽  
Christopher A. Mattson ◽  
Kenneth M. Bryden ◽  
Nordica A. MacCarty
Keyword(s):  
Quality Of Life ◽  
Developing Countries ◽  
Social Impact ◽  
Multidimensional Poverty ◽  
Social Impacts ◽  
Five Dimensions ◽  
Multidimensional Poverty Index ◽  
The Social ◽  
The Impact

More than ever before, engineers are creating products for developing countries. One of the purposes of these products is to improve the consumer’s quality of life. Currently, there is no established method of measuring the social impact of these types of products. As a result, engineers have used their own metrics to assess their product’s impact, if at all. Some of the common metrics used include products sold and revenue, which measure the financial success of a product without recognizing the social successes or failures it might have. In this paper we introduce a potential metric, the Product Impact Metric (PIM), which quantifies the impact a product has on impoverished individuals — especially those living in developing countries. It measures social impact broadly in five dimensions: health, education, standard of living, employment quality, and security. The PIM is inspired by the Multidimensional Poverty Index (MPI) created by the United Nations Development Programme. The MPI measures how the depth of poverty within a nation changes year after year, and the PIM measures how an individual’s quality of life changes after being affected by an engineered product. The Product Impact Metric can be used to predict social impacts (using personas that represent real individuals) or measure social impacts (using specific data from products introduced into the market).

scholarly journals ECONOMIC CRISIS THEORY OR ECONOMIC THEORY CRISIS?

2018 ◽  
pp. 28-35
Author(s):  
ELGUJA MEKVABISHVILI
Keyword(s):  
Economic Theory ◽  
Economic Crisis ◽  
Global Financial Crisis ◽  
Stationary Regime ◽  
High Quality ◽  
Crisis Theory ◽  
Neoclassical Economic Theory ◽  
The Global Financial Crisis ◽  
Problematic Aspect

The global financial crisis has brought a new impulse to the discussion of the problem of economic crisis. Economists have divided into two groups - one group believes the main reason for the crisis is the failure of economic theory. The second group thinks that economists have not been charged in the formation of economic crisis. The most problematic aspect of the economic crisis is their prediction. Mainstream neoclassical economic theory completely excludes the possibility of predicting crises. In the analysis of this issue, we use the concepts: “point prediction”, “prediction corridor”, “stationary regime” of economy functioning, and N. Kondratiev’s Great Cycles Conjunction Theory. There is possible to define the “prediction’s corridors” within the stationary regimes of economy functioning. In these periods the economy is characterized with high quality of volatility. By observing the main economic indicators in these periods, we think, it is possible to predict the approximate date of the economic crisis.

The Greek Economy before and during the Crisis—and Policy Options Going Forward

2017 ◽  
Author(s):  
Costas Meghir ◽  
Christopher A. Pissarides ◽  
Dimitri Vayanos ◽  
Nikolaos Vettas
Keyword(s):  
Social Protection ◽  
Global Financial Crisis ◽  
Business Environment ◽  
Market Regulation ◽  
Policy Options ◽  
Greek Economy ◽  
Good Provision ◽  
The Global Financial Crisis ◽  
System Access

This chapter reviews the performance of the Greek economy before and during the global financial crisis. It also presents policy options for Greece going forward, drawing to a significant extent on the conclusions of subsequent chapters. The chapter first studies Greece's economic performance in the decades before the crisis. It discusses the evolution of gross domestic product (GDP) per capita and productivity, debt, consumption, investment, wages and prices. The chapter then turns to the quality of the institutions pertaining to the business environment (product market regulation, justice system, access to finance, and labor market regulation), and to social protection and public good provision (pensions, welfare system, health care, and education). It also identifies interconnections between institutional quality and macroeconomic outcomes.

Interoperability of XBRL Financial Statements in the U.S.

2012 ◽  
pp. 129-144
Author(s):  
Hongwei Zhu ◽  
Harris Wu
Keyword(s):  
Global Financial Crisis ◽  
Financial Statements ◽  
Securities And Exchange Commission ◽  
Public Companies ◽  
Generally Accepted Accounting Principles ◽  
Data Elements ◽  
The Global Financial Crisis ◽  
Practical Implications ◽  
The U.S

In the wake of the global financial crisis, a pressing need exists for improving investor friendliness, especially the transparency and interoperability of the financial statements of public companies. eXtensible Business Reporting Language (XBRL) and XBRL taxonomies can accomplish this objective. In the U.S., the Securities and Exchange Commission (SEC) has mandated that all public companies must file their financial statements using XBRL and the U.S. Generally Accepted Accounting Principles (GAAP) taxonomy according to a phased-in schedule. Are the XBRL-based financial statements interoperable? This question is addressed by analyzing all of the annual XBRL financial statements filed to the SEC as of February 26, 2010. On average, 63% of data elements are not comparable between a pair of statements. The incomparability is partly caused by issues related to the GAAP taxonomy and misuse of the taxonomy by companies. The results have practical implications that will help improve the quality of financial data.

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