Part II The Transatlantic Dialogue, 5 Cultivating the US Overseas Market

2021 ◽  
Author(s):  
Jordan Cally
Keyword(s):  
United States ◽  
Capital Markets ◽  
Turning Point ◽  
The United States ◽  
International Markets ◽  
Securities And Exchange Commission ◽  
International Capital ◽  
International Capital Markets ◽  
The Third ◽  
The Us

This chapter details how the United States introduced a trio of regulatory initiatives which represented a turning point in international capital markets. The growing significance of international markets could no longer be ignored nor left to the regulatory hinterlands. The first two initiatives, Regulation S and Rule 144A (under the US 1933 Act), have become standard features of virtually all international capital raisings. Although very different in conception and operation, they are fraternal twins, both responses to a 1987 United States Securities and Exchange Commission (SEC) report on internationalization. They were considered and adopted by the SEC on the same day in April of 1990. The third initiative, the creation of a Multijurisdictional Disclosure System (MJDS) between Canada and the United States, is a younger sibling, conceived in the same flurry of interest in international markets, but making its appearance a year later.

scholarly journals Interdependence of stock exchange indices from leading capital markets: USA, Germany and Japan Stock Market

Bizinfo Blace ◽  
2021 ◽  
Vol 12 (1) ◽  
pp. 15-28
Author(s):  
Milena Marjanović ◽  
Ivan Mihailović ◽  
Ognjen Dimitrijević
Keyword(s):  
United States ◽  
Financial Markets ◽  
Capital Markets ◽  
Stock Exchange ◽  
Impulse Response Function ◽  
The United States ◽  
Causality Test ◽  
Vector Autoregressive ◽  
Equilibrium Relationship ◽  
The Us

In the context of globalization, due to the accelerated process of economic integration of countries and financial markets, the interdependence of the world's leading financial markets is more than obvious. This paper investigates the interdependence of stock exchange indices from leading capital markets in the world: USA, European Union and Asia. Our intention is to determine the direction of causality between the observed capital markets, as well as whether and in what way shocks in one market are transmitted to other markets. Research methodology includes stationarity testing, the existence of cointegration, the application of the Vector Autoregressive Model (VAR) which is complemented by the Granger causality test and the Impulse Response Function (IRF) analysis. The results of the research are as follows. Johansen's cointegration test showed that there is no long-term equilibrium relationship between the observed markets, while Granger's test showed that there is mutual causality between the capital markets of Germany and the United States. As for the Japanese index, previous events in Germany and the United States are statistically significant, but previous events on the Tokyo Stock Exchange cannot explain movements in Germany and the United States. According to the results of the IRF analysis, shocks that may occur in the US market have an almost identical impact on all observed markets. On the other hand, disturbances on the Japanese market are not transmitted to the German and American market, i.e. remain in Japan.

Part I International Capital Markets in Context, 2 Making International Markets Work—Regulatory Techniques

2021 ◽  
Author(s):  
Jordan Cally
Keyword(s):  
Capital Markets ◽  
International Markets ◽  
Nation State ◽  
International Capital ◽  
National Authority ◽  
National State ◽  
International Capital Markets ◽  
National Initiatives

This chapter discusses the regulatory techniques in the international capital markets. Regulation, as it is usually understood, emanates from a national (or perhaps sub-national) authority and operates locally. Capital markets predate the nation state and have been boundary blind. So, how have modern international capital markets been regulated? Different approaches have waxed and waned in popularity, but several broad groupings can be discerned: inaction; unilateralism; formal and informal cooperative efforts; and international or supra-national initiatives. The different regulatory approaches operating in modern international capital markets are not mutually exclusive; they often coexist or interact, in both a positive and negative manner. Ultimately, the different regulatory approaches to international capital markets, which ones dominate, which ones wither away, have been shaped by the geopolitical forces of empire, the emergence of the supra-national state, and hegemony.

Part III Beyond the Transatlantic Corridor, 10 The Paradoxes of Islamic Capital Markets

2021 ◽  
Author(s):  
Jordan Cally
Keyword(s):  
Initial Public Offering ◽  
Capital Markets ◽  
International Institutions ◽  
International Markets ◽  
Islamic Finance ◽  
International Capital ◽  
Gulf Region ◽  
International Capital Markets ◽  
Saudi Aramco ◽  
Public Offering

This chapter describes Islamic capital markets. Led by Malaysia and its distinct Islamic Market, Bursa Malaysia-I, Islamic finance has entered the mainstream of international capital markets, primarily in the form of ‘Islamic bonds’ (sukuk) and fund products. Saudi Arabia, with its well-publicized Saudi Aramco initial public offering (IPO) in 2019, raised, less successfully, a different flag in the international markets. Islamic finance has infiltrated conventional markets too. Non-Islamic issuers, sovereigns, corporates and international institutions, have issued sukuk, attracted by the wash of liquidity and investors in the Gulf region. Indeed, Islamic finance has been rubbing shoulders with modern conventional finance for several decades now. As ‘conventional’ finance has become less ‘conventional’, shari'a compliant finance has become more accepted. Impediments to growth persist; the imperviousness to standardization and the artificiality of the structures underlying the financial products increase costs and possibly risk, making the products uncompetitive. However, cost is not the only consideration in the marketplace. With greater interest in ethical and ESG (environmental, social, and governance) investing, Islamic finance may be the path or the way to future markets.

Venture Capitalists’ Experience and Foreign IPOs: Evidence from China

2017 ◽  
Vol 41 (5) ◽  
pp. 677-707 ◽  
Author(s):  
Jing Zhang ◽  
Huizhi Yu
Keyword(s):  
United States ◽  
The United States ◽  
Social Network Theory ◽  
Venture Capitalists ◽  
The Novel ◽  
International Capital ◽  
International Capital Markets ◽  
Selection Decisions ◽  
Using Data ◽  
Foreign Ipos

Integrating signaling theory with social network theory, we investigate the influence of venture capitalists’ (VCs’) IPO experience on the likelihood of foreign IPO successes. Using data from VC–backed Chinese companies listed on the U.S. or Chinese stock markets from 2002 to 2012, we find that U.S. VCs’ experience in either market increases the chance of listing in the United States. However, Chinese VCs’ experience in the United States plays the same role, but not in China. For entrepreneurs who desire to pursue opportunities in international capital markets, the novel findings offer important implications in their VC selection decisions.

IMF lending will prod Ukraine to sustain reforms

2017 ◽  
Keyword(s):  
Capital Markets ◽  
Armed Conflict ◽  
Government Support ◽  
Political Crisis ◽  
The Political ◽  
International Capital ◽  
Content Type ◽  
International Capital Markets ◽  
The Third ◽  
The Government

Significance After releasing 1 billion dollars in April, the IMF is urging Ukraine to implement land and pension reforms to make it eligible for further lending tranches. The government is finding it hard to pursue controversial changes opposed by many voters and taken up as causes by the political opposition. Gontareva's resignation reflects a lack of government support and is a setback for the reformist camp. Impacts The 'economic war' emerging alongside armed conflict in the east will dent prospects for growth and reform. Failure to secure further IMF financing could accelerate the planned return to international capital markets, perhaps in the third quarter. Attempts to push through reforms such as land sales may lead to increased political strife but not a full-blown political crisis.

scholarly journals Geopolitik Bantuan Luar Negeri Dari Perang Dingin sampai Globalisasi

2017 ◽  
Vol 2 (1) ◽  
pp. 16
Author(s):  
Dion Maulana Prasetya
Keyword(s):  
United States ◽  
Civil War ◽  
The United States ◽  
Decisive Factor ◽  
Marshall Plan ◽  
The Third ◽  
The Us

AbstrakGeopolitik bantuan luar negeri menyiratkan adanya hubungan tak terpisahkan antara geopolitik dan bantuan luar negeri. Dengan kata lain, preferensi pemberian bantuan luar negeri sangat dipengaruhi oleh faktor-faktor geopolitik. Artikel ini berusaha memaparkan kaitan antara geopolitik dan bantuan luar negeri. Lebih khusus tulisan ini membahas preferensi bantuan luar negeri Amerika Serikat (AS) yang sangat dipengaruhi oleh faktor geopolitik. Tulisan ini terbagi menjadi tiga bagian. Bagian pertama membahas hubungan antara Marshall Plan dengan geopolitik. Bagian kedua dari tulisan ini membahas tentang konflik internal Yunani yang menjadi faktor penentu lahirnya Marshall Plan. Sedangkan bagian ketiga membahas mengenai upaya AS dalam memerangi terorisme melalui bantuan luar negeri. Dari hasil studi terlihat bahwa terjadi perubahan preferensi pemberian bantuan luar negeri berdasarkan faktor-faktor geopolitik.Kata kunci: bantuan luar negeri, geopolitik, Marshall Plan, terorisme AbstractGeopolitics of foreign aids shows a relation of geopolitic can not be separated with foreign aids. In other words, foreign aids preference will be influenced by geopolitics factors. This article tries to explain the correlation between geopolitics and foreign aids. To be more specific, this article talks about the United States foreign aids preference that is influenced by geopolitics factors. This article is divided into three parts. The first part discusses the correlation between Marshall Plan and geopolitics. The second part examines the Greek civil war that became the decisive factor of the Marshall Plan. Whereas the third part discusses about the US efforts on war against terrorism through foreign aids. The study shows that there is a change on the foreign aids preference that is influenced by geopolitics factors.Keywords: foreign aids, geopolitics, Marshall Plan, terrorism

scholarly journals Impact Of The International Grocery Chain On The US Online Grocery Business

2011 ◽  
Vol 1 (1) ◽  
Author(s):  
Louis J. Zivic ◽  
Timothy P. Shea
Keyword(s):  
United States ◽  
The United States ◽  
The Third ◽  
The Us ◽  
Brick And Mortar

The established, United States based brick-and-mortar grocery chains have been slow to enter the online grocery business. This paper, the third in a series, explores whether that is still the case in 2001, how the new pure-play online grocers are doing in the aftermath of the collapse of the technical sector of stocks in early 2001, and the role that internationally-based grocery chains are taking in the US marketplace. Somewhat surprisingly, some internationally-based grocery chains are moving aggressively into both the brick-and-mortar and the online grocery business in the United States.

scholarly journals Assessing the impact of widespread respirator use in curtailing COVID-19 transmission in the United States

2021 ◽  
Author(s):  
Calistus N Ngonghala ◽  
James R Knitter ◽  
Lucas Marinacci ◽  
Matthew H Bonds ◽  
Abba B Gumel
Keyword(s):  
United States ◽  
Dynamic Models ◽  
The United States ◽  
Effective Control ◽  
Third Wave ◽  
Respiratory Protection ◽  
The Third ◽  
Surgical Masks ◽  
The Us ◽  
The Impact

Dynamic models are used to assess the impact of three types of face masks − cloth masks, surgical/procedure masks and respirators − in controlling the COVID-19 pandemic in the United States. We showed that the pandemic would have failed to establish in the US if a nationwide mask mandate, based on using respirators with moderately-high compliance, had been implemented during the first two months of the pandemic. The other mask types would fail to prevent the pandemic from becoming established. When mask usage compliance is low to moderate, respirators are far more effective in reducing disease burden. Using data from the third wave, we showed that the epidemic could be eliminated in the US if at least 40% of the population consistently wore respirators in public. Surgical masks can also lead to elimination, but requires compliance of at least 55%. Daily COVID-19 mortality could be eliminated in the US by June or July 2021 if 95% of the population opted for either respirators or surgical masks from the beginning of the third wave. We showed that the prospect of effective control or elimination of the pandemic using mask-based strategy is greatly enhanced if combined with other nonpharmaceutical interventions that significantly reduce the baseline community transmission. This study further emphasizes the role of human behavior towards masking on COVID-19 burden, and highlights the urgent need to maintain a healthy stockpile of highly-effective respiratory protection, particularly respirators, to be made available to the general public in times of future outbreaks or pandemics of respiratory diseases that inflict severe public health and socio-economic burden on the population.

scholarly journals Third World Tapestries in the US: Allende and Sidwa - A Comparative Study

2016 ◽  
Vol I (I) ◽  
pp. 1-10
Author(s):  
Amina Ghazanfar Butt ◽  
Bahramand Shah
Keyword(s):  
United States ◽  
Third World ◽  
The United States ◽  
Isabel Allende ◽  
The Third ◽  
Female Authors ◽  
The Us ◽  
Unique Site ◽  
The Third World ◽  
First World

The United States of America serves as a unique site for the literary world of contesting cultures due to the immigrant writers whose spirit of quest pulled them to this terra firma, away from their homelands. These exiled writers reside in the US but their native lands remain the thematic concern of their works. This study critically explores and investigates fictional accounts of two contemporary diaspora authors, i.e. Isabel Allende and Bapsi Sidwa. These female authors from the third world countries present subversive female characters both in the diasporic setting of the United States and in their native locations. Sidwa and Allende create characters who resist the native patriarchal structures of the third world homelands and establish their individual identities in the first world metropolitan.

Sign in / Sign up

Export Citation Format

Share Document