scholarly journals G20 Governance for an Inclusive Liberal Order

2019 ◽  
Vol 01 (01) ◽  
pp. 1850001
Author(s):  
John Kirton
Keyword(s):  
Free Trade ◽  
Emerging Economies ◽  
Financial Crises ◽  
Financial Stability ◽  
Prime Minister ◽  
The Core ◽  
The Us ◽  
The World ◽  
Globalized World ◽  
Real Test

The Group of Twenty (G20) was created first at the ministerial level and later upgraded to the summit level as a response to the global financial crises that first erupted from Asia in 1997, and then from the US in 2008 and Europe in 2010. These crises called into question the core principles and practices of the liberal order based on the economic, social and political openness that had been progressively internationally institutionalized since 1944. The G20 was designed with a dual distinctive foundational mission to promote financial stability and to make globalization work for all. It combined all established and emerging economies with high capability and connectivity, to operate as equals, to protect all within their borders and those beyond. It increasingly did so since its first summit in 2008. Its performance spiked at the summit in Hangzhou, China, on 3–4 September, 2016, and again at Hamburg, Germany, on 7–8 July, 2017. The latter coped with the new populist, protectionist US president and UK prime minister, whose countries had hosted the first three summits. G20-supported initiatives and agreements for full free trade have advanced since the first summit in 2008. No other center of global summit governance has emerged to guide an increasingly globalized world. The G20 has also steadily become an effective governor of global security. As the forces that propelled this rise will intensify, the Argentinian-hosted G20 summit on 30 November–1 December, 2018, promises to proceed along this path. It is guided by a country again afflicted by a financial crisis but now dedicated to following the core liberal order and making it work better for all. The real test will arrive in 2019, when Japan as host must co-operate with Korea and China, its neighbouring Asian powers and previous G20 hosts, to provide a new center of inclusive, progressive, liberal global governance that the world badly needs.

Financial Imbalance, Extravagance, and Waste (Isrāf, Tabdhīr)

2015 ◽  
Author(s):  
Mohammad Hashim Kamali
Keyword(s):  
Financial Crises ◽  
Financial Stability ◽  
Debt Crisis ◽  
Islamic Banking ◽  
Real Economy ◽  
Subprime Mortgage ◽  
Banking And Finance ◽  
The Us ◽  
The World ◽  
Financial Transactions

This chapter reviews scriptural evidence in the Islamic sources against greed, waste, usury, hoarding, and profiteering. It also expounds the Shari’ah rules pertaining to ownership, financial transactions, and business relations that seek to keep trading and finance in touch with the real economy and the people’s needs. Then follows an examination of the recurrent financial crises, the currency turmoil, the US subprime mortgage, the Eurozone debt crisis, and extensive fraudulent irregularities by some of the world’s leading banks. The chapter advances an argument that the in-built restraints in Islamic banking and finance can contribute to financial stability and health of the world economy.

After The Global Crisis, Is It Globalization or Globalonelization?

2015 ◽  
pp. 287-307
Author(s):  
Ayfer Gedikli ◽  
Seyfettin Erdoğan ◽  
Durmuş Çağrı Yıldırım
Keyword(s):  
Emerging Economies ◽  
Financial Crises ◽  
Local Governments ◽  
World Wide ◽  
Global Financial Crisis ◽  
Economic Consequences ◽  
Global Crisis ◽  
The World ◽  
The Global Financial Crisis

Since the rise of globalization which has abolished the role of nation-state gradually, the world has been increasingly dealing with world-wide pandemics and multi-regional financial crises. The nature of the Global Financial Crisis has made it clear that financially integrated and globalized markets which are poorly regulated with lax supervision, can pose significant risks, with disastrous economic consequences. Did global unfairness and loose monetary policy or lack of common fiscal policy deepen the crisis? Is globalization responsible from the loss of power of local governments on their economies? Finally, can “deglobalization” be an alternative solution for the emerging economies? The answers of these questions are even more crucial after the “FED tapering”. In this context, this chapter discusses the future of financial globalization with respect to its effects on the emerging economies during the global crisis.

Student Satisfaction Approach for Enhancing University Competitiveness

2020 ◽  
Vol 10 (2) ◽  
pp. 31-54
Author(s):  
Booysen Sabeho Tubulingane ◽  
Neeta Baporikar
Keyword(s):  
Student Satisfaction ◽  
Emerging Economies ◽  
Cross Sectional ◽  
Goods And Services ◽  
The Core ◽  
The World ◽  
Quantitative Descriptive ◽  
Teaching Learning ◽  
The Right ◽  
The University

Universities contribute to the creation of a knowledgeable and skilled national workforce. The world over, universities are hailed as one of the old forms of organizations that have been instrumental in contributing to the development of many nations by producing skilled and intellectual human resources needed to produce goods and services. For this role fulfillment, the universities must ensure student satisfaction as students are the core of the very existence of universities and most important stakeholders in the higher education scenario. Moreover, student satisfaction is likely to enhance not only the better teaching-learning process, knowledge transfer, but also the competitiveness of the universities. This is all the more relevant and probably the best way to adopt for the university to play their role effectively and also is competitive in emerging economies. Hence, adopting a quantitative descriptive cross-sectional research methodology, this study aims to deliberate on how student satisfaction is the right approach and can drive university competitiveness.

Financial Regulation

2011 ◽  
Vol 216 ◽  
pp. F4-F9 ◽  
Author(s):  
Ray Barrell ◽  
E. Phillip Davies
Keyword(s):  
Risk Taking ◽  
Financial Crises ◽  
Financial Regulation ◽  
Banking Regulation ◽  
Committee Report ◽  
Costs And Benefits ◽  
Basel Committee ◽  
The Core ◽  
The World ◽  
The Relationship

The financial crisis that engulfed the world in 2007 and 2008 has led to a wave of re-regulation and discussion of further regulation that has culminated in the proposals from the Basel Committee as well as those in the Vickers Committee report on Banking Regulation and Financial Crises. This issue of the Review contains a number of papers on Banking Regulation, covering many aspects of the debate, and we can put that debate in perspective through these papers and also by discussing our work on the relationship between bank size and risk taking, which is reported in Barrell et al. (2011). We addressed the causes of the crisis in the October 2008 Review, and began to look at the costs and benefits of bank regulation in Barrell et al. (2009). In that paper we argued that we needed to know the causes of crises and whether the regulators could do anything to affect them before we discussed new regulations. It is now generally agreed that increasing core capital reduces the probability of a crisis occurring, and most changes in regulation that are being discussed see this as the core of their toolkit. The work by the Institute macro team in Barrell et al. (2009) and in Barrell, Davis, Karim and Liadze (2010) was the first to demonstrate that there was a statistically important role for capital in defending against the probability of a crisis occurring, and our findings were widely used in the policy community in the debate over reform.

scholarly journals “Walking into the World of the Western”: David Michôd’s „The Rover” as Australian Post-Western

2017 ◽  
Vol 38 ◽  
pp. 45-58 ◽  
Author(s):  
Neil Campbell
Keyword(s):  
Land Use ◽  
Settler Colonialism ◽  
The Us ◽  
The World ◽  
Family Land ◽  
Globalized World ◽  
Western Film

This article argues that David Michôd’s The Rover is a“post-Western” film in the sense that it utilizes Western tropes to explore the consequences of settler-colonialism in aglobal context. Whilst “remembering” the US Western its use of its attributes helps analyze family, land-use, capitalism, masculinity and loss in atransnational, globalized world.„WCHODZĄC W ŚWIAT WESTERNU” — ROVER DAVIDA MICHÔDA JAKO AUSTRALIJSKI POSTWESTERNArtykuł przekonuje, że film Davida Michôda The Rover jest z gatunku postwesternu w tym sensie, iż wykorzystuje westernowe toposy w celu zbadania konsekwencji osadnictwa kolonialnego w kontekście ogólnoświatowym. Jeśli się pamięta amerykański western, zastosowanie jego cech pomaga w analizie rodziny, gospodarowania ziemią, kapitalizmu, męskości i utraty w ponadnarodowym, zglobalizowanym świecie.                                                                                              Przeł. Kordian Bobowski

The 1987 Stock Exchange Crash in Historical Perspective

2021 ◽  
pp. 165-183
Author(s):  
Laure Quennouëlle-Corre
Keyword(s):  
Financial Crises ◽  
Historical Perspective ◽  
Stock Exchange ◽  
Debt Crisis ◽  
Central Banks ◽  
Subprime Crisis ◽  
The Us ◽  
The World ◽  
Global Stock Markets ◽  
Global Stock

This chapter aims to explore the different facets of the collective memory of the 1987 Crash in the US, which represented an unprecedented collapse of prices on the global stock markets. The 22.3% fall of the Dow Jones on Black Monday (19 October 1987) represents the biggest single-day stock market collapse in history—even greater than that of 24 October 1929. The crash spread to other major financial markets over the world, but was quickly resolved thanks to the central banks’ intervention on the capital markets. In the context of Reaganomics, the crash can be seen as the first financial crisis of the second globalization wave in the strictest sense of the term ‘financial’, without taking into consideration the banking crises of the 1970s and the debt crisis in the early 1980s. However, unlike other financial crises, memories of this market break remained either vague or inexistent in public opinion, or fragmented and partial for economists and historians—until the subprime crisis. Since then, the 1987 warning and the potential dangers of uncontrolled markets were brought to light. The final lesson to be learned from this example of an evolving memory is about using the past.

scholarly journals MERCOSUR AND REGIONAL INTEGRATION IN SOUTH AMERICA

2005 ◽  
Vol 54 (2) ◽  
pp. 387-410 ◽  
Author(s):  
John AE Vervaele
Keyword(s):  
Latin America ◽  
Free Trade ◽  
Regional Integration ◽  
Public Procurement ◽  
Trade Agreement ◽  
Cooperation Agreement ◽  
Individual Country ◽  
The Us ◽  
The World ◽  
The Eu

In the period between 1980 and 1995, both Europe and the US made huge investments in Latin America. The process of democratization in Latin America, especially in the countries marked by a tradition of military dictatorship, has reinforced the belief in political and economic stability. The economy has displayed considerable growth and, partly stimulated by the IMF and the World Bank, several countries are embarking on privatization on a grand scale.2 Political and economic cooperation between the countries is taking the place of political and military rivalry. The time is ripe for a new attempt at integration on this continent. The overtures between Argentina and Brazil led to the establishment of Mercosur. Its economic (Mercosur is the fourth largest trade bloc in the world after the US, the EU, and Japan) and political importance have been recognized, especially by the EU. As early as 1996,3 an Interinstitutional Cooperation Agreement was concluded, an interregional framework agreement for cooperation between the EU Member States and Mercosur States parties.4 Since then, the EU-Mercosur Bi-regional Negotiations Committee (BNC)5 has already had ten meetings at which topics such as the free movement of goods, public procurement, investments, services, e-commerce, and conflict resolution were discussed. The US has never appreciated the attempts at integration in Latin America and has always striven to conclude separate free trade agreements with each individual country. The recent free trade agreement with Chile is a clear example.6

The Fall and Rise of the 1 Per Cent

2021 ◽  
pp. 127-151
Author(s):  
Francis Teal
Keyword(s):  
New Labour ◽  
Income Growth ◽  
The Core ◽  
The Us ◽  
The World ◽  
The Uk

We have a puzzle we need to resolve and the core of this puzzle is the remorseless rise in incomes of the poorest and the widening spread of incomes we observe across the world. The most politically conspicuous (and contentious) aspect of this rising spread is the increasing share of income going to the top 1 per cent, particularly in the UK and the US. In this chapter we compare income growth across the distribution for the UK and the US from the Thatcher/Reagan period until the years after the financial crash. The rise of the 1 per cent is shown to be largely at the expense of the 90–99 per cent. Inequality rose far more in the US than in the UK. In the New Labour years in the UK incomes of the bottom quintile (that is the bottom 20 per cent) of households grew faster than the top quintile.

scholarly journals Credit Unions and Co-operative Banks across the World

2017 ◽  
Author(s):  
Silvio Goglio ◽  
Panu Kalmi
Keyword(s):  
Corporate Governance ◽  
The Netherlands ◽  
Financial Crises ◽  
Credit Unions ◽  
First Century ◽  
Historical Evolution ◽  
The Us ◽  
The World ◽  
The Uk ◽  
Regulatory Challenges

The national cases of co-operative banking will be considered by pattern: credit unions (as in the UK and the US), decentralized networks (as in Germany, Italy, and Austria), and centralized networks (as in France, the Netherlands, and Finland). The analysis will consider the historical evolution that has characterized the different patterns with regard to national peculiarities (social and economic). We also discuss performance measurement in financial co-operatives and how the recent economic and financial crises have impacted their success vis-à-vis shareholder banks. We also consider corporate governance and regulatory challenges facing financial co-operatives. The present process of hybridization in the sector will also be taken into consideration as well as relaunched co-operatives in the twenty-first century.

scholarly journals Fighting climate change in the air: lessons from the EU directive on global aviation

2012 ◽  
Vol 55 (spe) ◽  
pp. 70-87
Author(s):  
Nicole de Paula Domingos
Keyword(s):  
Climate Change ◽  
Historical Perspective ◽  
Civil Aviation ◽  
International Civil Aviation Organization ◽  
The Core ◽  
Eu Directive ◽  
Key Stakeholders ◽  
The Us ◽  
The World ◽  
The Eu

The European Union's (EU) decision to include aviation into the Emissions Trade Scheme was heatedly contested. Countries around the world, but mainly the Brazil, Russia, India, China and South Africa group (BRICS) and the US, denounced the EU's initiate as illegal and unilateral. Following a decade of frustrated negotiations at the International Civil Aviation Organization (ICAO), this paper interrogates why such measure, in principle climate-friendly, inspired so much global resentment. I argue that concerns with competitiveness and risks of legal inconsistency are important, but insufficient elements to explain the core of the conflict. The paper suggests that the EU was strongly criticized because third countries perceived this action as an imposed solution, which fostered an environment of distrust. Therefore, I claim that the problem has more to do with a normative divide than with a substantive divergence on what should be done regarding aviation emissions. My analysis is informed by the present literature on the links between trade and climate change, but gives particular weight to first-hand information through interviews with key stakeholders. The paper is divided in three parts. First, it presents the scope of the EU directive in historical perspective. Second, it explores the EU's measure through three different angles: legal, economical and political. The final part explores some possible solutions to overcome these divergences.

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