The Financial Instruments and Exchange Law

Japanese Law ◽  
2021 ◽  
pp. 311-346
Author(s):  
Hiroshi Oda
Keyword(s):  
Economic Growth ◽  
Regulatory System ◽  
Big Bang ◽  
Securities Market ◽  
Corporate Disclosure ◽  
Financial Instruments ◽  
Bubble Economy ◽  
The Uk ◽  
Takeover Bids

Japan adopted the Securities and Exchange Law in 1948, modelled on US law. While the securities market rapidly developed at the time of high economic growth, the regulatory system lagged behind the growth of the market. In the aftermath of the ‘bubble economy’, improvement of the regulatory system was sought. Following the UK ‘Big Bang’, Japan launched its financial ‘Big Bang’ in 1996/1997. There was substantial deregulation in this area. The Securities and Exchange Law was replaced by the Financial Instruments and Exchange Law in 2006. Corporate disclosure system as well as the rules on TOB (takeover bids) have been improved.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

ECONOMIC GROWTH: INSTITUTIONAL APPROACHES AND FINANCIAL INSTRUMENTS

2021 ◽  
pp. 14-23
Author(s):  
Yury Viktorovich Korechkov ◽  
Vladimir Viktorovich Velikorossov ◽  
Igor Nikolaevich Yakshilov
Keyword(s):  
Economic Growth ◽  
Financial Instruments

Biopesticide Summit – Regulatory Reform of Biopesticides, Virtual Conference, 6th July 2021

2021 ◽  
Vol 32 (4) ◽  
pp. 168-170
Author(s):  
Robin Blake
Keyword(s):  
Market Share ◽  
Regulatory System ◽  
Regulatory Reform ◽  
Non Profit ◽  
The Us ◽  
The Media ◽  
Virtual Conference ◽  
The Uk ◽  
Chemical Pesticides ◽  
The Eu

This virtual event was held as a follow-up to the inaugural Biopesticide Summit and Exhibition at Swansea University in July 2019, and postponed in 2020 due to the Covid-19 pandemic. Sarah Harding, Communication Director at The World BioProtection Forum (WBF) & Biopesticide Summit opened the event with a few brief words of introduction before handing over to Dr Minshad Ansari, Chairman of the WBF.<br/> Dr Ansari was delighted with the more than 150 attendees already logged into the event with over 300 registered. The WBF was created in 2019 as a non-profit organization to bring together industry and academia for innovation. Dr Ansari thanked the event's supporters – AgBio, Agri Life, Bayer, Bionema, Ecolibrium Biologicals, Koppert Biological Systems, Harry Butler Institute and Sri BioAesthetics, as well as the media partners including Outlooks on Pest Management. He reiterated the need for regulatory reform due to removal of chemical pesticides, demands for organic food, limited biopesticide products registered and a lengthy and costly biopesticide registration process (5 years in EU where there are just 60 products available vs. 2.1 years in USA and where over 200 products are already available on market). The US is clearly in a much better place; in Europe, it is too expensive for SMEs and little progress has been made despite the work of the IBMA (International Biocontrol Manufacturers Association) and others. With respect to the biopesticides market share (value) by region, Europe has 27.7% market share (21.3% CAGR) and yet within UK, the CAGR is limited (unlike other European countries) – there are few products available in the market compared to chemical pesticides. The current biopesticide regulation is complex and not fit for purpose (compare 60 vs 200). Industry is facing a serious problem with pest control following the removal of some chemical pesticides, e.g.European cranefly which has caused many problems to the turf industry and has been impacted by the removal of chlorpyrifos. However, Brexit provides opportunities in the UK through government plans to "Build Back Better" by supporting Green Tech. At the EU level, the EU has committed to reducing use of pesticides by 50% (equating to 505 products) by 2030 so there are opportunities here for biopesticides to fill the market.<br/> Dr Ansari finished his introduction by restating the objectives for the meeting: for the speakers to present and debate the need for reform, their visions for a successful regulatory system, and how the WBF is working towards process reform in UK biopesticide regulation.

Prospects for the UK economy in 2022

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Export Performance ◽  
Content Type ◽  
Net Migration ◽  
The Uk

Significance However, the recovery has also led to supply bottlenecks and labour shortages, which have resulted in inflationary pressures. While most of the pandemic-related impacts on the economy are expected to be transitory, longer-term challenges such as export performance, net migration and productivity will weigh on economic growth.

scholarly journals Psychocapital and Shangri-Las: How happiness became both a means and end to governmentality

2013 ◽  
Vol 5 (1) ◽  
pp. 36-50 ◽  
Author(s):  
F. Mckay
Keyword(s):  
Economic Growth ◽  
Well Being ◽  
Subjective Well Being ◽  
The Past ◽  
Means And Ends ◽  
History Of ◽  
The Uk ◽  
Mental Well Being ◽  
Politics Of Happiness

In this paper a paradox is revealed in the politics of well-being over the means and ends of happiness. That paradox, in brief, is that although happiness is argued to be the ultimate end of all governmentality, in order to serve as that end, it first needs to be translated into a means for bolstering the economy, for only that way can a teleology of happiness gain a foothold in a world which prioritizes economic growth as an end in itself. To show this the paper gives a history of subjective well-being (SWB) research, and contrasts it with the politics of happiness in the UK, where SWB has in the past decade been translated into a discourse around the psychological wealth of the nation via the concepts of mental capital (MC) and mental well-being (MWB).

Part II UK Securities Markets, 4 Recognized Investment Exchanges (RIEs) and Recognized Clearing Houses (RCHs)

2021 ◽  
Author(s):  
Penn Bob ◽  
Forzani Alex ◽  
Allen & Overy LLP
Keyword(s):  
European Union ◽  
Financial Services ◽  
Securities Markets ◽  
Financial Instruments ◽  
The European Union ◽  
Financial Contracts ◽  
The Uk ◽  
Final Settlement ◽  
Market Infrastructure

This chapter summarizes and discusses the UK regulatory framework for recognized investment exchanges (RIEs) and recognized clearing houses (RCHs) under the Financial Services and Markets Act 2000 (FSMA). It considers the framework in light of the current and forthcoming European legislation. It also examines the applicability of the framework to RIEs and RCHs in the context of the recast Markets in Financial Instruments Directive II (MiFID II), European Market Infrastructure Regulation (EMIR) and the UK's departure from the European Union (Brexit). This chapter outlines the central role of exchanges and clearing houses in the operation of financial markets. It explains that the exchanges offer marketplaces for the trading of financial instruments, provide market data which facilitates trading, and establish standards for the offering of securities, while clearing houses manage the performance of financial contracts between the point of execution and final settlement and mitigating the risk and consequences of default.

Toward a dynamic capability theory of economic growth

2019 ◽  
Vol 29 (4) ◽  
pp. 1047-1065 ◽  
Author(s):  
David Sainsbury
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Value Added ◽  
The United States ◽  
Dynamic Capability ◽  
Alexander Hamilton ◽  
Role Of Government ◽  
Windows Of Opportunity ◽  
The Uk

Abstract New theories of economic growth that are policy-relevant and connect with the histories of success and failure in economic development are urgently needed. This article compares the neoclassical (or market efficiency) school of thought with the production-capability school of thought which included Alexander Hamilton, Friedrich List, and Joseph Schumpeter. Many affirmative, industrial policy steps by governments to promote economic development have been historically recorded—including in the UK and the United States. Meanwhile the neoclassical school has ignored the role of government in helping to create competitive advantage. It has also chosen to ignore how firms are formed, how technologies are acquired, and how industries emerge. The dynamic capability theory of economic growth developed here assigns the central role in economic growth to firms but also an important role to governments. The rate at which a country’s economy grows depends critically on whether its firms can build the capabilities to generate and take advantage of “windows of opportunity” that exist for innovation and new markets, and whether over time they are able to enhance their capabilities to move into higher value-added activities.1

Financial Innovation and Economic Growth

2006 ◽  
pp. 52-70
Author(s):  
Anita Ghatak
Keyword(s):  
Economic Growth ◽  
20Th Century ◽  
Financial Development ◽  
Time Series Data ◽  
Financial Innovation ◽  
Series Data ◽  
Money Stock ◽  
Long Run ◽  
Money Holding ◽  
The Uk

In this chapter, we assess the contribution of financial development to saving and economic growth in the UK in the 20th century. Financial development in this century has been by leaps and bounds along with a number of infamous crashes like the ones in the 1920s and in 1987. Using annual time-series data for the whole century, we find that financial growth has helped saving and economic growth in the UK throughout the 20th century. The unprecedented increase in money holding in 1965 and various forms of financial innovation and liberalisation initiated in the 1980s raised both the level and the rate of economic growth. Money-stock elasticity of GDP has been positive and statistically significant. There are long-run and unique co-integrated relations of GDP with productivity of capital and financial depth in the 20th century. The financial crash of Black Monday in 1987 upset equilibrium relations and led to a negative money-stock elasticity of economic growth.

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