scholarly journals International Mobility of the Wealthy in an Age of Growing Inequality

Norteamérica ◽  
2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Andrés Solimano
Keyword(s):  
Financial Crises ◽  
Global Economy ◽  
Home Country ◽  
Financial Security ◽  
International Mobility ◽  
Educational Facilities ◽  
Citizenship Rights ◽  
Property Prices ◽  
Weak Property ◽  
Migration Analysis

The global economy and society are affected by the rising inequality in income and wealth along with an increasing frequency and severity of financial crises, tendencies for protectionism, and fragmented globalization. A largely unexplored topic in migration analysis is the international mobility of the wealthy and their assets, looking for countries that offer financial security, lower taxation, good educational facilities, safe cities, and other amenities. This mobility is largely motivated by [an] increasing concentration of wealth and incomes toward the top 1 or 0.1 percent in several economies and the search for diversification of newly created wealth. Some economies that are home of the wealthy are affected by political instability insecurity and weak property rights, prompting them to leave. Outflows of the wealthy and their assets have various consequences on both home and receiving nations such as a reduction of reduce tax revenues in the home country, an increase in property prices in the receiving nations, and is creating as well as the creation of a whole (legal) industry granting passports, residence, and citizenship oriented to the wealthy. This paper provides an overview of these trends backed by available empirical information. Main substantive topics include (a) identifying the main motivations of for the international mobility of the wealthy including “pulling” and “pushing” factors; (b) similarities and differences between the migration of wealthy individuals and the mobility of their assets (offshore wealth) towards low-tax jurisdictions and fiscal paradises; (d) the emergence of a “market” for passports, residence permits, and citizenship rights catered to the very wealthy.

Basel Capital Adequacy Ratio Standard in The Light of Islamic Law Perspective

2016 ◽  
Vol 1 ◽  
pp. 308-317
Author(s):  
Adi Rahmanur Ibnu
Keyword(s):  
Financial Crises ◽  
Global Economy ◽  
Banking Sector ◽  
Islamic Law ◽  
Capital Requirements ◽  
Capital Adequacy ◽  
Minimum Capital ◽  
Capital Adequacy Ratio ◽  
Global Banking ◽  
Banking Development

Bank is one of the most important pillars of economy activities. However, banking sector has a real potential crisis threat. Alongside with the steady current global banking development, financial crises that have happened clearly affected global economy. Based on that situation, BIS (Bank for International Settlement) – an international financial standard setting organization, realizes the urgency to establishan international financial standard and supervision to anticipate future potential financial crises. This research aims to identify how Capital Adequacy Ratio Standard in Basel Capital Accord (II) based on Islamic law perspective. The research is conducted by analyzing Basel Capital Accord published by BIS. The research uses library research method to find out the aimed result. The focus is on the 1st pillar of Basel II publication that is Minimum Capital Requirements (CAR) policy. CAR, as an Islamic economics policy, will be analyzed using falāḥ approach. Falāḥ is an Islamic economics objective that consists of happiness, success, accomplishment or good luck concept. The earthly dimension of falāḥ has some parameters that can be used to analyze Islamic economics policy. Additionally, the Islamic fiqh maxim takes part in analyzing the policy. The maṣlaḥat concept in fiqh maxim approach shares aim with falāḥ concept in the sense that all of sharia law aims for success, happiness, eternal survival etc. The maṣlaḥat can be accomplished by extinguishing mafsadat or seizing maṣlaḥat. The maṣlaḥat aspect is essential to determine the compatibility Basel Capital Accord with jurisprudential maxim i.e harm must be dispelled (al-dharāru yuzāl). The conclusion results are, 1) Basel Capital Accord focuses on macro-prudential aspect in order to anticipate potential financial crises, 2) beneficial/interest (maṣlaḥat) aspects of the hereafter, cooperation principle, justice, fairness and the prohibition of exploitation are not the core value of Basel Capital Accord frame work, thus 3) the achievement of maslahat as intended by sharia i.e. jurisprudential maxim are not convincing. Therefore, 4) Basel Capital Accord as a regulation basis is not in line with jurisprudential maxim i.e harm must be dispelled (al-dharāru yuzāl).

Transitional Property Rights and Local Developmental History in China

Urban Studies ◽  
2011 ◽  
Vol 48 (3) ◽  
pp. 553-568 ◽  
Author(s):  
Daniel Abramson
Keyword(s):  
Property Rights ◽  
Urban Space ◽  
Global Economy ◽  
Development Process ◽  
Developmental History ◽  
Planned Economy ◽  
Official Discourse ◽  
Societal Development ◽  
Weak Property ◽  
Centrally Planned Economy

Among the societies that are moving from a centrally planned economy with weak property rights towards a market-oriented economy with stronger and more privatised property rights, China is undergoing an especially rapid and extensive urbanisation that obscures the diversity and relevance of local pre-Reform property arrangements. Official discourse emphasises the formalisation, clarification and, to some extent, the privatisation of property rights in the name of overall societal development and gradual integration with the global economy. In local informal, popular practice and discourse, however, the invocation of property rights reflects the continuing political relevance of both revolutionary and traditional notions of rights to urban space that challenge a unitary, linear view of the development process.

Impact of Covid-19 on women entrepreneurship in India

2021 ◽  
Vol 13 (1) ◽  
pp. 127-135
Author(s):  
Hiren Rana ◽  
◽  
Dr. Ninad Jhala
Keyword(s):  
Supply Chain ◽  
Business Model ◽  
Small Businesses ◽  
Financial Crises ◽  
Global Economy ◽  
Demand And Supply ◽  
The Government ◽  
Government Rules ◽  
Start Ups ◽  
Roll Back

The current pandemic of COVID 19 proliferated from China since December 2019 over the globe. Since then it has a significant effect visible on the global economy and living pattern of life. India is the fifth richest country abruptly affected after China and America. India is known for innovative start-ups and the business model collapsed due to the reduction in demand and supply chain because the sudden outbreak of COVID 19 resulted in complete lockdown. During COVID 19 pandemic, the government has taken new initiatives to reborn the entrepreneurs of India. However, many industries, small businesses, start-ups were rolling behind due to financial crises. There were no options for entrepreneurs to rely on the government rules, regulations to roll back in the market.

scholarly journals The Lead–Lag Relationship between Oil Futures and Spot Prices—A Literature Review

2018 ◽  
Vol 6 (4) ◽  
pp. 89 ◽  
Author(s):  
Miroslava Zavadska ◽  
Lucía Morales ◽  
Joseph Coughlan
Keyword(s):  
Literature Review ◽  
Crude Oil ◽  
Financial Crises ◽  
Global Economy ◽  
Dominant Role ◽  
Energy Resource ◽  
Market Uncertainty ◽  
Crude Oil Price ◽  
Oil Futures ◽  
Spot Prices

Crude oil is the dominant energy resource worldwide. The focus of this paper is on its historical behaviour and subsequent implications for the global economy with an emphasis on the lead–lag relationship between spot and future prices. The paper examines the behaviour of oil spot and future prices and their determinants during periods of market uncertainty, particularly in the context of economic and financial crises. The analysis highlights a key controversy within the extant literature, as to whether spot or futures prices are the main crude oil price indicator. The literature review indicates that the lead–lag relationship is a dynamic one, especially during periods of sustained uncertainty, which leads to significant disagreements and incongruities among researchers regarding the price that plays a dominant role.

scholarly journals Men and Place: Male Identity and the Meaning of Place in the Nineteenth-Century Scottish Gàidhealtachd

Genealogy ◽  
2020 ◽  
Vol 4 (4) ◽  
pp. 97
Author(s):  
Elizabeth Ritchie
Keyword(s):  
Nineteenth Century ◽  
Social Status ◽  
Personal Identity ◽  
Family Relationships ◽  
Home Country ◽  
International Mobility ◽  
Male Identity ◽  
Scottish Highlands ◽  
Significant Element ◽  
Professional Success

The perfunctory noting of name, dates, family relationships and a location on gravestones initially suggests that such details are unprofitable sources for evidence of male identity. However the sheer commonplaceness of stating a placename, particularly when it is noticeably associated with men rather than women, and when not all cultures do the same, indicates that it may reveal something of how men thought of themselves and how they felt. Canadian and Australian studies have suggested that recording placenames on a headstone was a marker of Scottish ethnicity, like an image of a thistle. However, in the nineteenth-century Scottish Highlands ethnicity was not a key component of identity. Indications of place, at least in the ‘home’ country, must therefore signify a different element of identity. This article examines headstone inscriptions of men from across the Gaelic-speaking Highlands and Islands of Scotland who died in the nineteenth century. The resulting evidence indicates that place was a significant element of male identity, indicating personal or ancestral connection with a particular location; a regional affiliation; professional success; social status; national and international mobility; an imperial or patriotic mindset; or even geographical dislocation. In short, place was highly significant to nineteenth-century Highland men, and was a key element of their personal identity.

Financial crises and recession in the global economy

1995 ◽  
Vol 71 (2) ◽  
pp. 383-383
Author(s):  
David Cobham
Keyword(s):  
Financial Crises ◽  
Global Economy

scholarly journals U.S. Sub-Prime Crisis: Origin and Causes

2020 ◽  
Vol 3 (1) ◽  
pp. 24-33
Author(s):  
Sangeeta Sangeeta ◽  
Vinay Chamoli
Keyword(s):  
Global Economy ◽  
Credit Rating ◽  
Home Country ◽  
Mortgage Lending ◽  
Subprime Crisis ◽  
Subprime Mortgage ◽  
Rating Agencies ◽  
Crisis Events ◽  
Mortgage Backed Securities ◽  
Boom And Bust

The purpose of this paper is to explain the boom and bust of the housing market in the U.S. and how the sub-prime mortgages gave birth to new securitized products in the global economy. The majority of the researches conducted previously to explore the reason for the sub-prime crisis and its impact on the volatility on the stock market of the home country (U.S.) and the other developing countries. This paper also contributes to the literature about causes, timeline, and major crisis events during the crisis period. The literature on the Subprime crisis revealed many causes of the Sub-prime crisis. These were Imprudent Mortgage Lending, Housing Bubble, Global Imbalances, Securitization, Lack of Transparency and Accountability in Mortgage Finance, Rating Agencies- The credit rating agencies gave AAA ratings to numerous issues of subprime mortgage-backed securities, many of which were subsequently downgraded to junk status. Deregulatory Legislation, Government-Mandated Sub-prime Lending, Complexity of certain financial instruments, Failure of Risk Management Systems, Excessive Leverage and Relaxed Regulation of Leverage were the most discussed reasons of Subprime Crisis.

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