Part VII International Securities, Including Markets and Clearing Systems, 18 The Architecture of International Financial Regulation

2021 ◽  
Author(s):  
Hüpkes Eva
Keyword(s):  
Financial Regulation ◽  
Evolutionary Process ◽  
The Political ◽  
Political Environment ◽  
Financial Architecture ◽  
International Financial Architecture ◽  
The World ◽  
Recent Origin ◽  
Global Financial System ◽  
International Financial Regulation

This chapter examines the term “international financial architecture”, which is of fairly recent origin and has been used only occasionally prior to the Asian crisis. It explains how international financial architecture provides a somewhat misleading impression of the nature of the process by which the institutions and policies that shape the global financial system came into being. It also describes international financial architecture as more of the outcome of an evolutionary process than the product of intelligent design. This chapter highlights changes in the international financial and monetary systems and in the arrangements for providing meaningful and cohesive oversight in response to changes in the world economy and in the political environment. It also analyses the development of a body of normative texts referred to as international financial regulation.

scholarly journals "China and India: Macro Economic Prospects and Problems "

2008 ◽  
Vol 7 (2) ◽  
pp. 1
Author(s):  
B. Syed Fazlul Huq
Keyword(s):  
World Economy ◽  
Economic Reforms ◽  
The Political ◽  
Political Environment ◽  
State Control ◽  
Economic Issues ◽  
China And India ◽  
The World ◽  
Political Freedoms ◽  
Similar Development

This paper draws on "China and India: Macroeconomic prospects and problems." China and India had similar development strategies prior to their breaking out of their deliberate insulation from the world economy and the ushering in of market-oriented economic reforms and liberalization. China began reforming its closed, centrally planned, non-market economy in 1978. India always had a large private sector and functioning markets, which were subject to rigid, state control until the hesitant and piecemeal reforms of the 1980s. These became systemic and far broader after India experienced a severe macroeconomic crisis in 1991. The political environment under which reforms were initiated and implemented in the two countries and their consequences were very different. India continues to be an open, participatory, multiparty democracy, while China has an authoritarian, one party regime, though it is liberalizing policies. China and India have a lot to gain, both from trading with each other and cooperating in the WTO. Each can learn from the other's policies, their successes and failures. This paper discusses a subset of economic issues common to both countries without touching on others, such as privatization of SOEs, reforms of the labour market (e.g., dealing with the "hokou" system in China and labour laws in India), financial sector reforms and, above all, political reforms. Although it may sound chauvinistic and naive, there is no doubt that China can learn a lot from the functioning of a vibrant, but somewhat chaotic, multiparty participatory democracy in India. After all, as the Chinese become richer and economically free, they are likely to demand personal and political freedoms. Hopefully, the Communist Party of China will anticipate and accommodate such demands, as it seems to have started doing already.

scholarly journals Does the Political Environment Affect Inflows of Foreign Direct Investment? Evidence from Emerging Markets

2015 ◽  
Vol 63 (6) ◽  
pp. 2017-2026
Author(s):  
Michal Mádr ◽  
Luděk Kouba
Keyword(s):  
Emerging Markets ◽  
World Bank ◽  
Direct Investment ◽  
Political Instability ◽  
The Political ◽  
Political Environment ◽  
Quality Of Democracy ◽  
The World Bank ◽  
The World

The main aim of the paper is to identify and quantify the influence of the political environment on the inflows of foreign direct investment in emerging markets. The paper defines emerging markets as Middle Income Countries according to the evaluation of the World Bank. Our sample of countries contains 78 states. The reference period focuses on the period of 1996–2012 due to data availability. The evaluation of the political environment is based on three dimensions: the quality of democracy, political instability and the level of corruption, which are related to three subcomponents of the concept, Governance Matters, provided by the World Bank. The paper distinguishes between two types of political instability omitted in thematic literature, elite and non-elite. The former represents non-violent instability (minority governments, tension related to the holding of elections) while the latter deals with violent forms of instability (civil wars, coups, ethnic and religious riots). The paper uses panel data regression analysis for the purpose of identification and quantification. The research uses fixed effects model with a cluster option. According to the results, the influence of the political environment on FDI is not entirely unequivocal in emerging markets; nevertheless, there is a statistically significant dimension – political instability (both parts). The quality of democracy and the level of corruption are significant only in some cases. The paper combines indicators frequently occurring in empirical literature (the Corruption Perception Index, Freedom in the World, Governance Matters) with alternative proxies (the Herfindahl Index Government, the Political Terror Scale, the State Fragility Index), which seem to be a perspective for a future research.

scholarly journals Re-Discovering the Ingenuity of Contemporary Malaysian Mosques’ Architecturral Characterisitic As One of the Prime Symbol of South-Asian Islamic Tourism Hub

2020 ◽  
Author(s):  
Nangkula Utaberta ◽  
Azmal Sabil ◽  
Nayeem Asif
Keyword(s):  
South Asian ◽  
The Political ◽  
Political Environment ◽  
Distinctive Features ◽  
Building Technology ◽  
Architectural Styles ◽  
Wide Range ◽  
The World ◽  
Tourism Potential ◽  
Second Category

To develop Malaysia into the most popular Islamic tourism hub in the world, it is important to identify and promote the uniqueness of Malaysia in terms of tourist spots, facilities and Muslim-friendly practices. Currently Malaysia faces tough competition with similar Islamic tourism hubs such as Turkey and the UAE. Staying ahead in this race requires efficient ‘Rebranding’ of the tourist spots and facilities. Malaysia’s tourism potential is enhanced by its rich cultural diversity. This is reflected by the wide range of architectural styles that contribute to Malaysia’s unique architecture. This is particularly evident in the country’s mosques which are constructed in various styles reflecting colonial, modernism and modern contemporary stylistic influences inspired by a number of ethnic subcultures, foreign influences, technology utilization, and the political environment. In this research, three contemporary mosques have been selected for investigation. Generally, the architectural styles of the modern mosque can be grouped into two categories. The first category contains the modern styles which emphasize the advancement in building technology and engineering (i.e. Masjid Tunku Mizan Zainal Abidin). The second category covers the Islamic influences found in countries including Turkey, the Middle East, and Northern Africa (i.e. Masjid Putra). This research will attempt to formulate framework to re-evaluate the classifications for these two categories, before suggesting how these distinctive features might encourage Islamic tourism in Malaysia.   Keyword: Tourism, Uniqueness, Contemporary Malaysian Mosque.

scholarly journals Die retoriek van godsdienstige pllitiek in Psalm 2

1998 ◽  
Vol 19 (2) ◽  
Author(s):  
J.H. Coetzee
Keyword(s):  
Evolutionary Process ◽  
The Political ◽  
Rhetorical Situation ◽  
Creation Process ◽  
Royal Court ◽  
Rhetorical Action ◽  
The World ◽  
Rhetorical Argumentation ◽  
Psalm 2 ◽  
Zion Theology

The rhetorical argumentation strategies of Psalm 2 as a political-cultic poem are explored in order to highlight the function of these strategies, the exigency and the audience of the initial rhetorical situation. During the creation process of the psalm, the rhetor must have been influenced by the royal court or the king himself, reflecting aspects of the evolutionary process which the Zion theology went through. The rhetor's creation was to be implemented lively during the inauguration ceremony of the Judean king as rhetorical action during which the king (as new rhetor), the world rulers and nations (as universal audience), the Judean audience present at the political-cultic ceremony, as well as Yahweh were engaged in collaborative rhetorical action.

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