scholarly journals Crisis? What crisis? A critical appraisal of World Bank housing policy in the wake of the global financial crisis

2017 ◽  
Vol 50 (2) ◽  
pp. 288-309 ◽  
Author(s):  
Elisa Van Waeyenberge
Keyword(s):  
Financial Crisis ◽  
Housing Policy ◽  
World Bank ◽  
Qualitative Data ◽  
Developing World ◽  
Global Financial Crisis ◽  
Policy Advocacy ◽  
International Policy ◽  
The World Bank ◽  
The Global Financial Crisis

This paper critically assesses international policy advocacy on how to resolve massive shelter needs in the developing world. It does so by focusing on the World Bank as a leader in development. It argues that the Bank’s housing policy remains thoroughly limited by its persistent commitment to neoliberal and financialised policy practices. These put housing finance at the centre of attempts to relieve shelter needs in the developing world despite the dramatic failures of such an approach as laid bare through the global financial crisis. The paper takes a historical approach to examine the trajectory of World Bank housing policy and is based on close scrutiny of a combination of quantitative and qualitative data. It concludes that an urgent need persists for a decoupling of finance from housing in international policy advocacy.

The Pandemic Exposes an Ailing US Governance Model

2020 ◽  
Vol 119 (820) ◽  
pp. 310-316
Author(s):  
Alasdair Roberts
Keyword(s):  
Financial Crisis ◽  
Developing World ◽  
Global Financial Crisis ◽  
Political Polarization ◽  
Washington Consensus ◽  
The Past ◽  
Governance Model ◽  
Governance Challenges ◽  
The Global Financial Crisis ◽  
Current Governance

Since the 1990s and Bill Clinton’s embrace of key parts of Ronald Reagan’s legacy, mainstream US governance has been guided by a bipartisan consensus around a formula of shrinking the federal government’s responsibilities and deregulating the economy. Hailed as the ultimate solution to the age-old problem of governing well, the formula was exported to the developing world as the Washington Consensus. Yet growing political polarization weakened the consensus, and in a series of three major crises over the past two decades—9/11, the global financial crisis, and the COVID-19 pandemic—US policymakers opted for pragmatism rather than adherence to the old formula, which appears increasingly inadequate to cope with current governance challenges.

scholarly journals Global Financial Crisis and Philanthropy: Malaysian Case

2015 ◽  
Vol 7 (2) ◽  
pp. 19-31 ◽  
Author(s):  
Janice Lay Hui Nga
Keyword(s):  
Financial Crisis ◽  
Mixed Method ◽  
Qualitative Data ◽  
Global Financial Crisis ◽  
Secondary Data ◽  
Civil Society Organisations ◽  
The Global Financial Crisis ◽  
The Impact ◽  
To Receive ◽  
Method Approach

This paper investigates the issue of the global financial crisis and its impacts on philanthropy and civil society organisations (CSOs) in Malaysia. CSOs are popularly known as non-governmental organisations (NGOs) in Malaysia. Financial crisis has caused NGOs in many countries to receive less funding. This situation may threaten and discourage voluntary works. Undoubtedly, these beneficial contributions from the NGOs are needful services to the society. This paper examines the impact of financial crisis through the lens of NGOs and philanthropy activities in Malaysia. It utilises primary and secondary data, employs a mixed method approach, and uses quantitative and qualitative data. While there are many influencing factors in this development, this paper presents several significant aspects in the Malaysian context, including the style and nature of giving, culture, religion, and political pressure. This study attempts to seek potential solutions, pathways and possible approaches beneficial to NGOs and philanthropy activities for their sustainability in facing the financial crisis and its consequences. Experiences and lessons learnt in Malaysia may well be useful and applicable to some extent in other countries.

scholarly journals Determinants of Labor Productivity in Emerging Markets: Evidence from Pre- and Post-Financial Crisis Mexico

2018 ◽  
Vol 20 (3) ◽  
pp. 259
Author(s):  
Young-Hee Kang ◽  
Kyunga Na
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Emerging Markets ◽  
Labor Productivity ◽  
Global Financial Crisis ◽  
Foreign Ownership ◽  
The World Bank ◽  
Before And After ◽  
The Global Financial Crisis

Although the global financial crisis of 2008 had tremendous effects on global businesses, its impact on firm performance in emerging markets is unknown. To develop this knowledge, this study explores the factors that influenced labor productivity in emerging markets before and after the crisis. Using a sample of 2,061 Mexican firms that were collected by the World Bank in 2006 and 2010, this study investigates the relationships of bribery, informality, and corporate governance to labor productivity. The results show that, before the crisis, informality and foreign ownership were positively associated with labor productivity. On the other hand, after the crisis, bribery and informality are negatively related to labor productivity, while foreign ownership and external auditing make positive impacts on labor productivity. The findings imply that businesses need to improve the quality of their corporate governance and decrease bribery. Governments of emerging markets need to reduce the levels of informality.

Part I International Capital Markets in Context, 3 International Organizations and the Capital Markets

2021 ◽  
Author(s):  
Jordan Cally
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Focal Point ◽  
International Capital ◽  
International Capital Markets ◽  
The World Bank ◽  
The Global Financial Crisis ◽  
The International Monetary Fund

This chapter examines the International Organization of Securities Commissions (IOSCO). Over the nearly four decades of its existence, as its composition and roles evolved, and in the absence of any other body, IOSCO became a focal point for oversight of international capital markets. Crises, first the regional Asian financial crisis of 1997–98 and then the global financial crisis, have dramatically changed IOSCO. Crises have also thrust capital markets into the international limelight, and led to the appearance of new international institutions, including the Financial Stability Forum (FSF) and the Financial Stability Board (FSB). Unlike IOSCO, both the FSF and the FSB were political initiatives. As such, they also drew into their orbit formal treaty organizations such as the International Monetary Fund (IMF) and The World Bank, among others. The chapter then looks at international financial institutions and the Financial Sector Assessment Program (FSAP).

scholarly journals Exchange Rate Volatility and Trade: External Exchange Rate Volatility Matters

2020 ◽  
Vol 11 (02) ◽  
pp. 2050006
Author(s):  
Cengiz Tunc ◽  
Senol Babuşçu ◽  
Adalet Hazar ◽  
M. Nihat Solakoglu
Keyword(s):  
Exchange Rate ◽  
World Bank ◽  
Global Financial Crisis ◽  
Exchange Rate Volatility ◽  
Depressing Effect ◽  
Promoting Effect ◽  
Bilateral Exchange ◽  
The World Bank ◽  
The Global Financial Crisis

We investigate the role of external exchange rate volatility in export in addition to the effect of bilateral exchange rate volatility using country-, sector-, and destination-specific detailed export data of the World Bank Exporter Dynamics Database. The results show that while the bilateral exchange rate volatility has a depressing effect on export, the external exchange rate volatility generates trade-promoting effect on export. However, the magnitude of the effect depends on trade intensity between countries. Furthermore, while the role of external exchange rate volatility diminished after the Global Financial Crisis, the effect of its volatility has become larger. Finally, external exchange rate volatility has a larger trade-promoting effect on export in the presence of high volatilities than the effect in the presence of low volatilities.

Queer in the Time of Homocapitalism

Out of Time ◽  
2020 ◽  
pp. 136-173
Author(s):  
Rahul Rao
Keyword(s):  
International Economic ◽  
Political Economy ◽  
Financial Crisis ◽  
World Bank ◽  
Global Financial Crisis ◽  
Gender And Sexuality ◽  
The World Bank ◽  
The World ◽  
The Relationship

In the wake of Uganda’s Anti Homosexuality Act, the World Bank cancelled a loan to the country, precipitating the production of international economic governmentality to promote respect for LGBTI rights, or what this chapter calls ‘homocapitalism’. The chapter reads this development as part of the instrumentalization of gender and sexuality for the rehabilitation of capitalism following the most recent global financial crisis. It argues that the Bank’s efforts to disincentivize homophobia by ascribing it a cost reinforce the hegemony of neoliberal reason. The chapter criticizes the Bank’s culturalist understanding of homophobia, arguing that this allows it to position itself as external to the problem, rather than as implicated in its production. It offers a political economy account of homophobia in Uganda that highlights the relationship between neoliberalism and Pentecostal Christianity, a key vehicle for conservative discourses around sexuality. It concludes with reflections on how homocapitalism might be resisted.

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