International coordination of financial supervision: why has it grown? Will it be sustained?

2018 ◽  
Vol 10 (2) ◽  
pp. 213-236
Author(s):  
Richard John Herring
Keyword(s):  
International Cooperation ◽  
Financial Supervision ◽  
Insurance Companies ◽  
International Consensus ◽  
Content Type ◽  
Institutional Infrastructure ◽  
International Coordination ◽  
History Of ◽  
Policy Objectives ◽  
Domestic Influence

Purpose This article reviews the history of international coordination in the supervision of financial institutions noting why cooperation developed first and has been most extensive in oversight of banks relative to securities firms and insurance companies. It also poses the question of whether the extent of international coordination can be sustained or may even diminish. Design/methodology/approach The history of international coordination is used to illustrate the hypotheses that cooperation is more likely: the broader the international consensus on policy objectives and the potential gains from cooperation, the wider the international consensus on policy objectives and the potential gains from cooperation, the deeper the international agreement on the probable consequences of policy alternatives, the stronger the international institutional infrastructure for decision-making and the greater the domestic influence of experts who share a common understanding of a problem and its solutions. Findings All five of these factors that have enabled deepening and broadening of international cooperation have diminished in strength so that international cooperation is not likely to expand and may even be in retreat. Originality/value This article clarifies the factors that facilitate international cooperation and highlights the key obstacles to sustaining international cooperation.

scholarly journals Marx’s monetary theory and its practical value

2019 ◽  
Vol 2 (2) ◽  
pp. 182-200
Author(s):  
Guogang Wang
Keyword(s):  
Intellectual History ◽  
Financial Supervision ◽  
Practical Significance ◽  
Monetary Theory ◽  
Social Functions ◽  
Content Type ◽  
Long Time ◽  
History Of ◽  
Definition Of ◽  
And Function

Purpose Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. The purpose of this paper is to summarize the main content of Marx’s monetary theory from three aspects: the source and nature of money, the function of money and the historical significance of money. Design/methodology/approach Moreover, this paper also gives an extended understanding of Marx’s monetary theory from four perspectives: the endogenous credit mechanism of money, the functions of money and demands for money, the financial function of money and the economic and social functions of money. Findings Lastly, the present paper discusses the practical significance of Marx’s monetary theory from three perspectives, namely, the inspection of “Bitcoin” from the nature and function of money, the definition of demands and the division of supplies at the monetary level, and the prevention of systemic financial risks and the focus of financial supervision. Originality/value Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. However, for a long time, the contribution of Marx has rarely been mentioned in the intellectual history of monetary theory. Even the book, Political Economy (On Capitalism), has been only summarily concerned with the source and function of money in Marx’s monetary theory, rather than revealing Marx’s outstanding contribution in the monetary theory and the financial connotation of Marx’s monetary theory, and expounding its practical significance.

Pandemics

2018 ◽  
pp. 646-662
Author(s):  
Kathryn H. Jacobsen
Keyword(s):  
International Trade ◽  
Global Health ◽  
Case Studies ◽  
International Cooperation ◽  
Recovery Phase ◽  
Noncommunicable Diseases ◽  
Global Studies ◽  
Global Action ◽  
History Of ◽  
Strategic Goals

This chapter discusses the history of and responses to global epidemics of serious diseases. Case studies of cholera, influenza, and HIV/AIDS illustrate typical reactions to pandemic events. The initial stages of a pandemic are often characterized by collective anxiety and a desire for isolation. As the pandemic progresses, there are calls for collective global responses to protect human security and contain outbreaks while maintaining international trade and travel. As pandemics enter a recovery phase, there is often a shift toward the use of advocacy to promote international cooperation, secure continued funding for global health activities, and advance other strategic goals. The rhetoric of pandemics is now being used to describe obesity and other emerging noncommunicable diseases because the language of pandemics connotes risk and demands global action. Pandemics are the result of global interactions and globalization processes, and studies of pandemics are, by definition, global studies.

A tribute to Gwen Leighty

2006 ◽  
Vol 19 (2) ◽  
pp. 84-86
Author(s):  
Jennifer Paustenbaugh
Keyword(s):  
Web Sites ◽  
Academic Libraries ◽  
Design Methodology ◽  
Fund Raising ◽  
Personal Knowledge ◽  
Valuable Contribution ◽  
Content Type ◽  
History Of ◽  
Development Network ◽  
Fund Raiser

PurposeThe purpose of the paper is to provide a tribute to the life and work of library fund‐raiser Gwen Leighty.Design/methodology/approachThe paper uses personal knowledge and references to Academic Libraries Advancement and Development Network (ALADN) and LIBDEV web sites.FindingsThe paper finds that fundraising is connecting with people and the journey that each development officer must make while raising funds for their library.Originality/valueThe paper presents a brief history of ALADN and the valuable contribution one person made to the cause of library fund‐raising.

Freedom Tide? Ideology, Politics, and the Origins of Democracy Promotion in U.S. Central America Policy, 1980–1984

2014 ◽  
Vol 16 (4) ◽  
pp. 60-109 ◽  
Author(s):  
Evan McCormick
Keyword(s):  
Human Rights ◽  
Foreign Policy ◽  
Latin America ◽  
Central America ◽  
Reagan Administration ◽  
Democracy Promotion ◽  
The Political ◽  
History Of ◽  
Policy Objectives ◽  
Dramatic Shift

The Reagan administration came to power in 1981 seeking to downplay Jimmy Carter's emphasis on human rights in U.S. policy toward Latin America. Yet, by 1985 the administration had come to justify its policies towards Central America in the very same terms. This article examines the dramatic shift that occurred in policymaking toward Central America during Ronald Reagan's first term. Synthesizing existing accounts while drawing on new and recently declassified material, the article looks beyond rhetoric to the political, intellectual, and bureaucratic dynamics that conditioned the emergence of a Reaganite human rights policy. The article shows that events in El Salvador suggested to administration officials—and to Reagan himself—that support for free elections could serve as a means of shoring up legitimacy for embattled allies abroad, while defending the administration against vociferous human rights criticism at home. In the case of Nicaragua, democracy promotion helped to eschew hard decisions between foreign policy objectives. The history of the Reagan Doctrine's contentious roots provides a complex lens through which to evaluate subsequent U.S. attempts to foster democracy overseas.

The sediment of the Hostivar Reservoir (Prague, Czech Republic) as a memory of 45 years of pollution

2017 ◽  
Vol 28 (2) ◽  
pp. 204-213
Author(s):  
Lucie Soucková ◽  
Dana Kominkova
Keyword(s):  
Czech Republic ◽  
Design Methodology ◽  
Polyaromatic Hydrocarbons ◽  
Reservoir Sediment ◽  
Terrestrial Environment ◽  
Content Type ◽  
Sediment Extraction ◽  
History Of ◽  
Us Epa ◽  
Practical Implications

Purpose The purpose of this paper is to evaluate the historical pollution of the Hostivar Reservoir (largest reservoir in Prague) sediment by metals, polyaromatic hydrocarbons (PAH) and polychlorinated biphenyls (PCB) and identify the trends in pollution of aquatic environment. Design/methodology/approach Core samples, 140 cm long, recording the 45-year history of the reservoir, were separated to 5 cm width subsamples (approximately 1.5 years of sedimentation) and analyzed for metals (Cd, Pb, Cu, Zn, Cr, Ni, Al), PAH and PCB. Following methods were used: US EPA 3051 for metals, US EPA 505 and US EPA 8082 A for PCB, and ISO 18287:2006 for PAH. Findings Most of the contaminants had the highest concentration at the beginning of the existence of the reservoir, suggesting that the contamination results from construction activities. Significant decrease of Pb occurred in the second half of the 1990s. It was caused by termination of the addition of lead as a detonation suppressant to the gasoline. Most concentrations of PAHs, PCBs and metals, except copper do not present eco-toxicological risk. Practical implications The results show the volume of priority pollutants removed from the reservoir by sediment extraction, and point risk to the terrestrial environment due to application of the sediment in the construction of a noise protecting wall. Originality/value The paper presents unique data about historical contamination of the largest reservoir in Prague, the capital of Czech Republic. It shows how the watershed and the construction phase of the dam cause a pollution of the reservoir sediment and possible environmental risk for aquatic biota.

A brief history of small business in Australia, 1970-2010

2014 ◽  
Vol 3 (2) ◽  
pp. 222-236 ◽  
Author(s):  
Michael T. Schaper
Keyword(s):  
Small Business ◽  
Small Firms ◽  
Formal Education ◽  
Extensive Literature ◽  
Business Sector ◽  
Role Of Government ◽  
Content Type ◽  
Support Tools ◽  
History Of ◽  
Training And Research

Purpose – The purpose of this paper is to provide an overview of the development of the SME sector in Australia, concentrating on a number of key areas: small business definitions and numbers; the role of government; the emergence of key industry groups; and the evolution of education, training and research services. Design/methodology/approach – The study is a result of extensive literature reviews, desk research and the recollections of various participants in the field. Findings – There have been major changes to the Australian small business sector over the last 40 years. In 1983-1984 there were an estimated 550,000 small firms, and by 2010 this had grown to almost two million. Government involvement in, and support for, SMEs was virtually non-existent before 1970. Following the delivery of the Wiltshire report (1971), however, both state and federal governments responded by developing specialist advisory services, funding programmes and other support tools. Virtually non-existent before the 1970s, several peak industry associations were formed between 1977 and the 1990s. At the same time, formal education and teaching in the area expanded in the 1970s and 1980s and is now widespread. Practical implications – Development of the small business sector in Australia has often paralleled similar trends in other OECD nations. State and territory governments have often (but not always) been the principal drivers of policy change. Originality/value – There has been no little, if any, prior documentation of the evolution of the small business sector in Australia in the last 40 years.

Haunted by the past: transformations and daily challenges of China's prosthetics

2020 ◽  
Vol 10 (1) ◽  
pp. 115-124
Author(s):  
Chunchun Wang
Keyword(s):  
Design Methodology ◽  
Cross Cultural ◽  
Future Research ◽  
Institutional Pressures ◽  
Rehabilitation Center ◽  
Content Type ◽  
The Past ◽  
Daily Experiences ◽  
History Of ◽  
Depth Interviews

PurposeThe purpose of this paper is to examine the transformations of prosthetic practices in China, as well as the daily experiences and dilemmas arising from the everchanging practices since 1949. On the basis of materials, this paper explores an everyday perspective to review the history of technology.Design/methodology/approachEthnography was collected with the application of participant observations, informal interviews and in-depth interviews during a 13-months study at a rehabilitation center in Chengdu, China. The literature on prosthetic manufacturing was also reviewed for this paper.FindingsChina's prosthetic technology seems to evolve from traditional to modern. However, this progressive narrative – innovation-based timeline (Edgerton, 2006, xi) – has been challenged by daily practices. Due to institutional pressures, prosthetists are in a dilemma of selectively using their knowledge to create one kind of device for all prosthesis users with a certain kind of disability, thereby regulating the physical and social experiences of prosthesis users. Besides, prosthesis users are accustomed to prostheses made with old techniques, and must correct themselves from old experiences to the daily practices recognized by the selected techniques.Originality/valueThis paper provides a cross-cultural case to reexamine Edgerton's criticism of the progressive and orderly innovation-centric technological narrative. More importantly, it reviews the history and practices of China's prosthetics from daily experiences rather than Edgerton's concentration on technology; therefore, it provides an everyday perspective for future research on technological transformations.

Political radicalization and fragmentation of the democratic blocs and the legislative council elections in the Hong Kong Special Administrative Region

2017 ◽  
Vol 6 (4) ◽  
pp. 372-384
Author(s):  
Chung Fun Steven Hung
Keyword(s):  
Hong Kong ◽  
Political Parties ◽  
Special Administrative Region ◽  
Content Type ◽  
Legislative Council ◽  
Administrative Region ◽  
Two Systems ◽  
History Of ◽  
One Country Two Systems ◽  
Historical Comparative

Purpose After direct elections were instituted in Hong Kong and the sovereignty was transferred from Britain to China, politicization inevitably followed democratization. The purpose of this paper is to evaluate the pro-democratic political parties’ politics in Hong Kong in recent history. Design/methodology/approach The research was conducted through a historical comparative analysis, within the context of Hong Kong after the sovereignty handover and the interim period of crucial democratization. Findings With the implementation of “One country, Two systems,” political democratization was hindered in Hong Kong’s transformation. The democratic forces have no alternative but to seek more radicalized politics, which has caused a decisive and ineluctable fragmentation of the local political parties. Originality/value This paper explores and evaluates the political history of the Hong Kong Special Administrative Region under “One country, Two systems” and the ways in which the limited democratization hinders the progress of Hong Kong’s transformation.

Economic thought in the 17th and 18th centuries: a linguistic approach

2015 ◽  
Vol 23 (3) ◽  
pp. 260-270
Author(s):  
Iara Vigo de Lima
Keyword(s):  
Economic Thought ◽  
Point Of View ◽  
Content Type ◽  
Front Position ◽  
History Of ◽  
Epistemological Model ◽  
Theory Of Language ◽  
Theory Of Value ◽  
Linguistic Approach ◽  
Practical Implications

Purpose – The purpose of this paper is to analyse Michel Foucault’s new epistemological model regarding an analogy between the theory of language and economic thought in the seventeenth and eighteenth centuries. Design/methodology/approach – Through the scrutiny of language, Foucault intended to demonstrate that some analogies, among different branches of knowledge (interdiscursive practice), allow us to apprehend the underlying configuration of thought regarding ontological and epistemological conditions that have historically determined knowledge. He draws a parallel between four theoretical segments borrowed from general grammar (Attribution, Articulation, Designation and Derivation) and economic thought on wealth. Findings – One of the most remarkable propositions of this approach is that the theory of language and economic thought were epistemologically isomorphic in that context. What the theory of language stated in relation to “attribution” and “articulation” corresponded to the “theory of value” in economic thought. What grammar investigated regarding “designation” and “derivation” was analogous to the “theory of money and trade” in economic thought. The relationships that were – directly and diagonally – identified between and among them led to the conclusion that there was ‘a circular and surface causality’ in economic thought insofar as “circulation” preceded “production”. It was “superficial” because it could not find an explanation for the cause of “wealth”, which was only possible when “production” was placed in the front position of theories. Practical implications – Such an epistemological point of view can inspire other studies in the history of economic thought. Originality/value – This paper offers a perspective on how to think about the history of ontological and epistemological conditions of economic thought.

Methodology of institutional analysis and its implication for contemporary framework of Islamic banks

Humanomics ◽  
2015 ◽  
Vol 31 (2) ◽  
pp. 183-200 ◽  
Author(s):  
Omar Javaid
Keyword(s):  
Islamic Law ◽  
Institutional Analysis ◽  
Institutional Framework ◽  
Methodological Error ◽  
Islamic Banks ◽  
Cultural Changes ◽  
Content Type ◽  
Distribution Of Wealth ◽  
History Of Evolution ◽  
History Of

Purpose – This paper aims to investigate the possibility of a methodological error made by the concerned scholars and academics of Islamic finance & economics to understand and study the modern framework of financial institutions, where they intend to practice Islamic law of contract. This error has led them to expect something which the institutional modern framework of banks, adopted by Islamic banks (for e.g.), wasn’t designed to accomplish, hence the disappointment. Design/methodology/approach – This study reviews the literature on history of evolution of banking industry and the corresponding ideological and cultural changes in the European society which drove this evolution; this is followed by a conceptual analysis to identify the institutional components inconsistent with ethos of Islamic norms and ethos. Findings – After review of history and evolution of modern banking framework, in the light of Hollingsworth frame of institutional analysis, it is inferred that the said framework was designed for a secular, liberal and capitalist society to efficiently and effectively enhance freedom and accumulate capital and wealth, without much regard for equitable distribution of wealth and economic justice. These goals are very much in contrast with the normative premise of Islamic Economics, which cannot be efficiently used to achieve the related objective. This indicates that framework of banking was narrowly understood by the concerned scholars and academics, without considering its history of evolution and intended objectives, before adopting for IBs. Practical implications – The disconnect between the Western institutional framework and ethos of Islam implies that the concerned need to look deeper and holistically while adapting Western institutions, so that necessary alteration is done in advance, if such an adoption is inevitable. Originality/value – This study introduces a new dimension for the concerned scholars, academics and practitioners to reanalyze the institutional framework adopted from the West, so that necessary adjustments can be worked out to make the said framework compatible with the ethos of Islamic economics.

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