Part II Predominant Security Challenges and International Law, National and Transnational Security, Ch.11 Terrorism and the Security Council

2021 ◽  
Author(s):  
Duffy Helen ◽  
van den Herik Larissa
Keyword(s):  
Financial Institutions ◽  
Two Dimensions ◽  
Humanitarian Assistance ◽  
Main Argument ◽  
Counter Terrorism ◽  
Long Run ◽  
Security Challenges ◽  
Regulatory Approach ◽  
Legislative Activities ◽  
The Impact

This chapter details the United Nations Security Council’s (UNSC) intense regulatory approach to counter-terrorism and its consequences, including the direct and indirect repercussions for affected individuals, and the broader global security landscape. The main argument is that the expansion of the UNSC’s role has gradually opened up a space of indeterminacy and unaccountability. Two dimensions are explored here: (i) the creation of a quasi-permanent counter-terrorism sanctions regime under Chapter VII and (ii) the Council’s ever-expanding ‘legislative’ activities, amongst others in relation to ‘foreign terrorist fighters’ and incitement or provocation. The chapter exposes underlying tendencies and ulterior effects of the UNSC’s approach, including the expansive reach of undefined or ill-defined phenomena, a reflex of over-criminalization, and the increasing involvement of the private sector, including financial institutions, in the counter-terrorism sphere. The impact on human rights, participatory democracy, the shrinking space for civil society, humanitarian assistance and peacebuilders, accountability, and rule of law is profound. Ultimately, the chapter tells a story of uncertain threats and unaccountable actors in counter-terrorism practice and the adverse effects on security in the long run.

Part II Predominant Security Challenges and International Law, Environmental Security, Ch.31 International Disaster Law

2021 ◽  
Author(s):  
Pronto Arnold N
Keyword(s):  
Disaster Risk Reduction ◽  
Disaster Risk ◽  
Environmental Security ◽  
Humanitarian Assistance ◽  
International Level ◽  
Global Level ◽  
Major Threat ◽  
Security Challenges ◽  
The Impact ◽  
Human Support

This chapter details how disasters, whether widespread or localized, pose a major threat to human security, as their effects place significant strain on human support systems. What is more, disasters invariably have a disproportionately harmful impact on the particularly vulnerable, who typically subsist at the margins of society, usually in harm’s way. For many States, the impact of specific disasters can be measured in terms of setbacks to human development. The imperative to provide aid and assistance following the onset of disasters is increasingly viewed as a key interest of the international community. The United Nations devotes significant resources to the coordination of efforts at the international level aimed at facilitating cooperation in the provision of humanitarian assistance. The organization has also become the central locus for contemplation at the global level on best practices in disaster risk reduction. The chapter then describes the outlines of an emerging international disaster law, motivated in large part by a growing awareness of the role law can play in efforts to reduce vulnerability to, and mitigate the impact of, disasters. Such sentiments are, in turn, driven by an appreciation of the potential deleterious consequences for global security arising from the widespread dislocation brought about by major disasters.

scholarly journals Asian financial development: the rise of a new financial system

2021 ◽  
Vol 10 (37) ◽  
pp. 155-167
Author(s):  
Elnur T. Mekhdiev ◽  
Zulfiya M. Bikmetova ◽  
Elvira N. Iamalova ◽  
Oksana N. Ignatieva ◽  
Aygul F. Samigullina
Keyword(s):  
Developing Countries ◽  
Financial Institutions ◽  
Regional Integration ◽  
Developing Economies ◽  
Financial System ◽  
Global Imbalances ◽  
International Financial Institutions ◽  
Economic Strategy ◽  
Long Run ◽  
The Impact

Today, the global financial system is inefficient in bridging the gap between the developed and developing countries. The dynamically developing countries, such as Asian states, are not satisfied with modern international financial institutions and are actively involved in regional integration, creating new international financial institutions. The newly formed financial institutions contribute to the formation of a different system of financial relations in Asia, which, in turn, is being transformed into the Asian financial system. These trends cannot avoid the impact of the global imbalances. The object of the article is to prove the efficiency of the Asian financial institutions in fighting global imbalances in the region. The major task of these institutions is not the substitution of the current global mechanisms, but their assistance and helping them in solving the global problems on the regional level. The major results include the proof that the developing economies in Asia are more consolidated and capable of conducting a single economic strategy in the long run and the proof of the higher efficiency of Asian financial institutions and their single geo-economic strategy in the long run; this suggests that a new Asian financial system is being built.

scholarly journals Study of the Insolvency and Bankruptcy Code 2016

2019 ◽  
pp. 221-233
Author(s):  
Vritti Bang ◽  
Shreyansh Bhansali ◽  
Devansh Doshi ◽  
Asawari Vedak
Keyword(s):  
Financial Institutions ◽  
Default Risk ◽  
Entire System ◽  
Public Sector Banks ◽  
Long Run ◽  
Credit Default ◽  
Bankruptcy Code ◽  
The Impact ◽  
Regulation Changes ◽  
Transparency Method

India has been riddling since decades with the problem of insolvency and bankruptcy issues. Several public sector banks, financial institutions and operational creditors were facing severe credit default risk. Various laws and codes have been passed as a corrective measure, but have proved to be inefficient and failed to provide any kind of relief to the creditors. There was thus a need for reform in insolvency and bankruptcy laws. The Insolvency and Bankruptcy code 2016 (IBC) has been instrumental in creating a shift in the way the bankruptcy process of defaulting firms has been dealt with. The IBC 2016 promises to bring about transparency, method and infrastructure in the entire system of liquidation. Changing up core aspects of the insolvency process, it gives companies a well-deserved chance at revival. Despite the recent amendments to the code and regulation changes by the Insolvency and Bankruptcy Board of India, there are still few grey areas in the code. This paper aims to thus test the effectiveness of the IBC 2016 since its introduction in 2016 and whether it resolves lags in the previous system. Hence, the paper dwells into the various components of IBC to critically analyse its sustainability and scalability. The research paper is purely based on secondary research through different news articles and reports from reliable sources. Though it is too early to comment on the impact of the IBC 2016, the researchers have tried to study the code and conclude whether it will be successful in fixing the problems and will keep up to its promise in the long run.

THE IMPACT OF BANKS' CAPITAL ADEQUACY REGULATION ON THE ECONOMIC SYSTEM: AN AGENT-BASED APPROACH

2012 ◽  
Vol 15 (supp02) ◽  
pp. 1250040 ◽  
Author(s):  
ANDREA TEGLIO ◽  
MARCO RABERTO ◽  
SILVANO CINCOTTI
Keyword(s):  
Financial Institutions ◽  
Banking System ◽  
Capital Adequacy ◽  
Credit Channel ◽  
Crucial Issue ◽  
Agent Based ◽  
Long Run ◽  
Short Run ◽  
Endogenous Money ◽  
The Impact

Since the start of the financial crisis in 2007, the debate on the proper level leverage of financial institutions has been flourishing. The paper addresses such crucial issue within the Eurace artificial economy, by considering the effects that different choices of capital adequacy ratios for banks have on main economic indicators. The study also gives us the opportunity to examine the outcomes of the Eurace model so to discuss the nature of endogenous money, giving a contribution to a debate that has grown stronger over the last two decades. A set of 40 years long simulations have been performed and examined in the short (first five years), medium (the following 15 years) and long (the last 20 years) run. Results point out a non-trivial dependence of real economic variables such as the gross domestic product (GDP), the unemployment rate and the aggregate capital stock on banks' capital adequacy ratios; this dependence is in place due to the credit channel and varies significantly according to the chosen evaluation horizon. In general, while boosting the economy in the short run, regulations allowing for a high leverage of the banking system tend to be depressing in the medium and long run. Results also point out that the stock of money is driven by the demand for loans, therefore supporting the theory of endogenous nature of credit money.

scholarly journals Analisis Dampak Sukuk pada Perekonomian Nasional di Tengah Wabah Covid 19

2020 ◽  
Vol 10 (1) ◽  
pp. 55-68
Author(s):  
Binti Nur Asiyah ◽  
Indah Nur Aini ◽  
Rama Prasetya Mahardika ◽  
Lyliya Nurul Laili
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
The State ◽  
State Budget ◽  
Long Run ◽  
Finance Development ◽  
Islamic Financial Institutions ◽  
The Government ◽  
The Impact ◽  
New Jobs

Sukuk is a form of investment that has an impact on the national economy which is currently weakening due to the Covid-19 pandemic. Covid 19 has had an impact on the faltering of the people's economy from business to financial institutions (sharia and conventional). The state has the need to fulfill the state budget in order to address the problem of the impact of covid 19 quickly. This paper is intended to analyze the impact of sukuk on economic growth during the covid pandemic 19. The process of collecting data is done by analyzing data observed through OJK statistics and collecting various information related to covid-19 and the data are analyzed qualitatively. Based on the results of the study it was found that Sukuk became a source of funds for the government to finance development, thus creating new jobs for the community in the long run. Sukuk provide benefits for the liquidity of Islamic financial institutions due to the impact of covid 19, and also investment facilities for the community. Key Words: Impact; Sukuk; national economiy; Covid-19.   Abstrak: Sukuk termasuk bentuk investasi yang memberikan dampak bagi perekonomian nasional yang saat ini melemah karena adanya pandemi Covid-19.Covid 19 telah memberikan dampak bagi tersendatnya perekonomian masyarakat mulai bisnis hingga lembaga keuangan (syariah dan konvensional). Negara memiliki kebutuhan pemenuhan APBN guna menjawab masalah dari dampak covid 19 secara cepat. Paper ini dimaksudkan untuk menganalisis dampak sukuk bagi pertumbuhan ekonomi di masa pandemi covid 19. Proses pengumpulan data dilakukan dengan cara menganalisis data yang diobservasi melalui statistik OJK dan mengumpulkan berbagai informasi terkait covid-19 dan data dianalisis secara kualitatif. Berdasarkan hasil pengkajian diperoleh bahwa Sukuk menjadi sumber dana bagi pemerintah untuk membiayai pembangunan, sehingga menciptakan lapangan kerja baru bagi masyarakat dalam jangka panjangnya. Sukuk memberikan kemanfaatan bagi likuiditas lembaga keuangan syariah akibat dampak covid 19, dan juga sarana investasi bagi masyarakat.. Kata Kunci : Dampak;  Sukuk; Perekonomian Nasional; Covid-19.

Does governance quality matter for the development of financial institutions in Pakistan?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Ahad ◽  
Zulfiqar Ali Imran
Keyword(s):  
Financial Institutions ◽  
Unit Root ◽  
Financial Institution ◽  
Structural Break ◽  
Dominant Factor ◽  
Series Data ◽  
Content Type ◽  
Long Run ◽  
Governance Quality ◽  
The Impact

PurposeGovernance quality has been a dominant factor to formulate policies for the development of financial institutions in the world. Therefore, this study aims to explore the impact of governance quality on financial institutions along with globalization in the case of Pakistan.Design/methodology/approachTime series data from 1996 to 2018 are considered for analysis. The NG-Perron is applied to check the order of integration. In addition, Kim and Perron (2009) structural break unit root test is used to identify break years. The autoregressive distributive lags (ARDL) bound testing approach is used to detect the long-run association among governance quality, financial institutions and globalization.FindingsThe results of unit root analysis show that all series are stationary at a different level of integration, I(0)/I(1). However, the long-run association is detected in the presence of break years. The authors find a positive impact of governance quality to determine financial institutions in the long-short-run. Similarly, globalization also enhances financial institutions but only in long run.Originality/valueThis study fills the gap in the economic literature by exploring the linkages between the financial institution and disaggregated governance indicators in the case of Pakistan. Moreover, a role of structural break is also captured during analysis. This study also opens some new insights for policymaking.

scholarly journals Nexus between financial innovations, remittances and credit performance: Evidence from augmented ARDL and nonlinear ARDL

2021 ◽  
Vol 18 (3) ◽  
pp. 295-311
Author(s):  
Md. Qamruzzaman
Keyword(s):  
Financial Institutions ◽  
Trade Openness ◽  
Financial Innovation ◽  
Negative Association ◽  
Financial Innovations ◽  
Nonlinear Ardl ◽  
Long Run ◽  
Short Run ◽  
Asymmetric Shock ◽  
The Impact

The motivation for this study is to assess the impact of financial innovation and remittances on bank-based financial institutions’ credit performance in Bangladesh for the period 1981–2019. The study applies augmented ARDL (AARDL) and nonlinear ARDL (NARDL) to identify both long-run and short-run effects and directional causality by performing non-granger casualty tests. AARDL confirms the presence of a long-run association between financial innovation, remittance, trade openness, FDI, and credit performance, which is measured by non-performing loans. In the long run, financial innovation and FDI volatility expose a positive link with NPLs, but remittance inflows and trade openness establish a negative association. Asymmetry shocks in financial innovation reveal a positive relationship with credit performance. In contrast, the asymmetric shock of remittance and trade openness unveil a negative tie to credit performance, especially in the long run. Furthermore, directional causality provides evidence to support a feedback hypothesis explaining causality between financial innovation and credit performance, as well as remittance inflows and credit performance. These findings suggest that credit performance is guided by future development in remittances and financial innovation; thus, closer attention from policymakers and financial experts is persistent to capitalize or mitigate the impact of the financial system.

scholarly journals Impact of ownership structure on default risk: a case of banking sector of Pakistan

2014 ◽  
Vol 11 (2) ◽  
pp. 144-152 ◽  
Author(s):  
Khadija Ashfaq ◽  
Zahid Irshad Younas ◽  
Bilal Mehmood
Keyword(s):  
Financial Institutions ◽  
Ownership Structure ◽  
Risk Taking ◽  
Commercial Banks ◽  
Default Risk ◽  
Banking Sector ◽  
Two Dimensions ◽  
Ownership Concentration ◽  
Significant Relation ◽  
The Impact

This study empirically investigates the impact of ownership structure on default risk of banks by using the panel data of commercial banks of Pakistan over the period of 2005-2011. The study considers two dimensions of ownership structure: categories of owners and ownership concentration. The study further splits the categories of owners into seven categories (managers/directors, families/individuals, foreigners, public owners, banks, non-banking financial institutions, and non-financial institutions), having different risk taking incentives. Controlling for various factors, the results of the study reveal that the ownership structure is significantly related with default risk of banks. On the whole, higher equity stake families/individuals are associated with a decrease in default risk of banks. Also, the involvement of public owners and foreign owners in ownership structure seem to increase the default risk of banks. All other categories do not have significant relation with default risk of banks. Finally, the findings of the study suggest that high ownership concentration is associated with high default risk in banks.

The long-run stability of a small, open economy under crawling peg regime

2002 ◽  
Vol 52 (1) ◽  
pp. 57-78
Author(s):  
S. Çiftçioğlu
Keyword(s):  
Exchange Rate ◽  
Open Economy ◽  
Risk Premium ◽  
Small Open Economy ◽  
Exchange Rate Policy ◽  
Price Stability ◽  
Output Stability ◽  
Long Run ◽  
The Exchange Rate ◽  
The Impact

The paper analyses the long-run (steady-state) output and price stability of a small, open economy which adopts a “crawling-peg” type of exchange-rate regime in the presence of various kinds of random shocks. Analytical and simulation results suggest that with the exception of money demand shocks, an exchange rate policy which involves a relatively higher rate of indexation of the exchange rate to price level is likely to lead to the worsening of price stability for all types of shocks. On the other hand, the impact of adopting such a policy on output stability depends on the type of the shock; for policy shocks to the exchange rate and shocks to output demand, output stability is worsened whereas for the shocks to risk premium of domestic assets, supply price of domestic output and the wage rate, better output stability is achieved in the long run.

Can Values of Honesty, Hard Work, Loyalty and Discipline Predict Entrepreneurial Orientation of Muslim Owner Managers?

2015 ◽  
Vol 3 (1) ◽  
pp. 31 ◽  
Author(s):  
Rohani Mohd ◽  
Badrul Hisham Kamaruddin ◽  
Khulida Kirana Yahya ◽  
Elias Sanidas
Keyword(s):  
Entrepreneurial Orientation ◽  
Two Dimensions ◽  
Hard Work ◽  
Small Scale ◽  
Sampling Frame ◽  
Policy Makers ◽  
Learning Institutions ◽  
Innovative Orientation ◽  
The Impact ◽  
True Values

The purpose of the present study is twofold: first, to investigate the true values of Muslim owner managers; second, to examine the impact of these values on entrepreneurial orientations of Muslim small-scale entrepreneurs. 850 Muslim owner managers were selected randomly using the sampling frame provided by MajlisAmanah Rakyat Malaysia (MARA). 162 completed questionnaires were collected and analyzed. For this paper only two dimensions of entrepreneurial orientations were analyzed: proactive orientation and innovative orientation. Interestingly, the findings revealed that Muslim businessmen/women are honest, loyal, disciplined and hard working. Loyalty and honesty are positively related to proactive orientation, while discipline and hard-work are positively related to innovative orientation. The findings provide implications for existing relevant theories, policy makers, practitioners and learning institutions. 

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