Banking Crises Under Soft Legal Constraints Lessons from the Russian Meltdown

Author(s):  
Enrico C. Perotti
2009 ◽  
pp. 4-14 ◽  
Author(s):  
G. Gref ◽  
K. Yudaeva

Problems in the financial sector were at the core of the current economic crisis. Therefore, economic recovery will only become sustainable after taking care of the major weaknesses in the financial sector. This conclusion is relevant both for the US and UK - the two countries where crisis has started, and for other economies which financial institutions turned out to be fragile in the face of the swings in the risk appetite. Russia is one of the countries where the crisis has revealed serious deficiency in the financial sector. Our study of 11 banking crises during the last 25-30 years shows that sustainable economic recovery and decrease in the dependence on commodity prices will be virtually impossible without cleaning of balance sheets and capitalization of the financial sector.


2020 ◽  
Vol 65 (1) ◽  
pp. 27-44 ◽  
Author(s):  
Houshmand Masoumi ◽  
Erik Fruth

AbstractThe number of urban mobility studies and projects in the three large metropoles of the Middle East and North Africa (MENA) region, Tehran, Istanbul, and Cairo, is growing while other large cities do not enjoy a large share. It would be efficient for those other large cities to adapt the experiences, projects, and studies of Tehran, Istanbul, and Cairo to their own contexts. This paper can help facilitate that adaptation. It investigates the transferability and generalisability of the findings of a recent publication by the lead author on mobility choices in Tehran, Istanbul, and Cairo to some other large cities of more than one million inhabitants in the MENA region. The discussion provided here can provide decision-makers in the MENA region with guidance on how to utilise the findings from a recent study on Tehran/Istanbul/Cairo in their own contexts. T-tests were conducted to test the comparability of the three base cities with a sample 57 others with populations of over one million people. The results show that it would be possible to adapt the urban mobility studies of the three base megacities to 3 to 27 cities based on different criteria. Key suggestions identified by this study include providing local accessibility, neighbourhood facilities, and cycling facilities as well as removing social and legal constraints to cycling, advertising cycling, informing people about the harm arising from the overuse of cars, and increasing street connectivity by adding intersections. According to the findings, these evidence-based recommendations can enhance sustainable mobility for the inhabitants of up to 27 large cities.


Incarceration ◽  
2020 ◽  
Vol 2 (1) ◽  
pp. 263266632097780
Author(s):  
Alexandra Cox ◽  
Dwayne Betts

There are close to seven million people under correctional supervision in the United States, both in prison and in the community. The US criminal justice system is widely regarded as an inherently unmerciful institution by scholars and policymakers but also by people who have spent time in prison and their family members; it is deeply punitive, racist, expansive and damaging in its reach. In this article, we probe the meanings of mercy for the institution of parole.


Author(s):  
Xin Dai

AbstractIn the sentencing of murder cases in England and Wales, it is required by law that judges must take into consideration the factors listed in sentencing laws and guidelines (henceforth statutory factors). However, judges also have the discretion to include factors that are not listed in such laws or guidelines (henceforth non-statutory factors). This paper explores judges’ positioning towards legal constraints and judicial discretion in sentencing by applying the Appraisal framework to analyse statutory and non-statutory factors in the sentencing remarks for a randomly selected murder case. The major analytical findings are that, with regard to statutory factors, attitudes are implicit and are mainly presented through heteroglossia, while, with regard to non-statutory factors, attitudes are explicit and are mainly presented through monoglossia. These different appraisal features of statutory and non-statutory factors reflect the constraints of sentencing laws and guidelines on the judge’s sentencing practice, and the judge’s full play of judicial discretion in the sentencing of this case. It is expected that findings of this study could add to current understanding of sentencing practice, while its analytical procedure could facilitate appraisal analysis of more sentencing remarks, which would, in turn, complement socio-legal studies on sentencing practice.


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