A Return to Securitization

2019 ◽  
pp. 174-198
Author(s):  
Sarah L. Quinn
Keyword(s):  
Financial Development ◽  
Social Groups ◽  
Mortgage Markets ◽  
New Approach ◽  
Fannie Mae ◽  
Wealth Redistribution ◽  
Credit Programs ◽  
Federal National Mortgage Association ◽  
The Government ◽  
The 1960S

This chapter discusses the distributional politics of mortgage markets and securitization in the postwar era and explains their transformation in the 1960s as the Federal National Mortgage Association (FNMA/Fannie Mae) was “spun off” from the government and authorized to finance itself by issuing a new kind of government-guaranteed mortgage-backed security. In the second half of the decade, a series of crises marked the end of one era and the beginning of a long transition into a new one marked by scarcity, neoliberalism, and financialization. The end of postwar affluence created a distributional struggle over which social groups would pay for what, and that process played out through the highly contentious and veto-ridden world of budget politics. Housing credit was doubly implicated in these fights, first because it was hit hard and early in market corrections, and second because its credit programs could be used for off-budget accounting. For all that the new approach to securitization reflected a changing relationship between the state and the market, the modern mortgage-backed security continued to reflect the institutional logic of the credit programs: the use of state-promoted financial development and risk redistribution as an alternative to more direct forms of wealth redistribution.

New Approach for Comparison of Countries’ Achievements in Science Olympiads

2018 ◽  
Vol 12 ◽  
pp. 53-68
Author(s):  
Mile JOVANOV ◽  
Marija MIHOVA ◽  
Bojan KOSTADINOV ◽  
Emil STANKOV
Keyword(s):  
Secondary School ◽  
Eastern Europe ◽  
Computer Science ◽  
Secondary School Students ◽  
School Students ◽  
New Approach ◽  
Government Institutions ◽  
South Eastern Europe ◽  
The Government ◽  
Valuable Content

There are several International Olympiads for secondary school students (for example, mathematics, physics, chemistry, biology and informatics). These Olympiads are not just a science competition, but a means to care for talent in the particular science. The goal of this paper is to identify the necessary topics important for good results at these international contests, and to compare the contest systems for the countries in South Eastern Europe, in the field of Informatics (Computer Science), as a region that is one of the prominent world regions in the context of high results in the international competitions. Here, we provide comparison through detailed analysis of several countries, and further we present a new approach that may be used to compare the achievements of the countries based on the results that students achieved at these competitions. Finally, we present an application of this approach on the results of some of the discussed countries compared to Macedonia. We strongly believe that the paper will provide a valuable content and approach for the entities involved in the organization of the contests, to measure their results compared to other countries, to use the information for improvement, and to use their achievements to raise awareness among the government institutions and companies in order to get support from them.

Novel Coronavirus 2019 Outbreak: A Global Epidemic

2020 ◽  
Vol 17 (12) ◽  
pp. 1458-1464
Author(s):  
Sweta Kamboj ◽  
Rohit Kamboj ◽  
Shikha Kamboj ◽  
Kumar Guarve ◽  
Rohit Dutt
Keyword(s):  
World Health ◽  
Upper Respiratory Tract ◽  
Global Epidemic ◽  
The Public ◽  
The Government ◽  
Tract Disease ◽  
The 1960S ◽  
Novel Coronavirus ◽  
Health Organization ◽  
The Impact

Background: In the 1960s, the human coronavirus was designated, which is responsible for the upper respiratory tract disease in children. Back in 2003, mainly 5 new coronaviruses were recognized. This study directly pursues to govern knowledge, attitude and practice of viral and droplet infection isolation safeguard among the researchers during the outbreak of the COVID-19. Introduction: Coronavirus is a proteinaceous and infectious pathogen. It is an etiological agent of severe acute respiratory syndrome (SARS) and the Middle East respiratory syndrome (MERS). Coronavirus, appeared in China from the seafood and poultry market last year, which has spread in various countries, and has caused several deaths. Methods: The literature data has been taken from different search platforms like PubMed, Science Direct, Embase, Web of Science, who.int portal and complied. Results: Corona virology study will be more advanced and outstanding in recent years. COVID-19 epidemic is a threatening reminder not solely for one country but all over the universe. Conclusion: In this review article, we encapsulated the pathogenesis, geographical spread of coronavirus worldwide, also discussed the perspective of diagnosis, effective treatment, and primary recommendations by the World Health Organization, and guidelines of the government to slow down the impact of the virus are also optimistic, efficacious and obliging for the public health. However, it will take a prolonged time in the future to overcome this epidemic.

Boutiques and Prêt-à-porter in Santiago de Chile: A Formula for Women’s Modernity (1967–1973)

2020 ◽  
Author(s):  
Josefina Vidal M ◽  
Macarena García O ◽  
Pedro Álvarez C
Keyword(s):  
Capital City ◽  
Military Dictatorship ◽  
Haute Couture ◽  
Collective Work ◽  
Santiago De Chile ◽  
Salvador Allende ◽  
Consumer Segment ◽  
The Government ◽  
The 1960S ◽  
New Formula

Abstract In the second half of the 1960s, prêt-à-porter (ready-to-wear) fashion was established in Chile. As an alternative to haute couture (high fashion), prêt-à-porter brought an eagerness for modernisation that was reflected in the setting up of a network of women-led boutiques, which developed strongly between 1967 and 1973. This article first examines the precedents that allowed for the creation of a ‘local fashion system’ that promoted collective work around trades such as knitting and dressmaking. It also analyses the arrangement of a circuit of boutiques in the comuna of Providencia, a strategic sector of Santiago de Chile (the capital city) that fostered the dynamics of social gathering. Later, the article describes the profile of the designer-entrepreneurs whose work was attuned to a female consumer segment that aimed to access a new formula of the modernising bourgeoisie. It also reassesses the rise of a movement called Moda Autóctona, which distanced itself from European fashion and was supported by the government during the socialist regime of Salvador Allende. Lastly, it tackles the eventual dismantling of this network of women’s fashion stores as a result of the installation of a military dictatorship in Chile.

School Catchment Zone Mergers and Housing Wealth Redistribution

2021 ◽  
pp. 0739456X2110067
Author(s):  
Siu Kei Wong ◽  
Kuang Kuang Deng
Keyword(s):  
School Quality ◽  
Housing Prices ◽  
Estimation Method ◽  
Policy Implications ◽  
Housing Wealth ◽  
Housing Values ◽  
Wealth Redistribution ◽  
The Government ◽  
Empirical Design

This study investigates how perceived school quality affects housing values, using a new estimation method. Our empirical design takes advantage of the mergers of school catchment zones initiated by the government to develop quasi-experiments. We find that, in zones that gained sudden access to higher ranked schools, housing prices increased by 1.3 to 4.1 percent. Larger and more expensive houses appreciated more in response to the improvement in perceived quality of available schools. The findings generate important policy implications regarding housing wealth redistribution and housing expenditures among different households. The study also enriches the literature on the capitalization effect of school quality.

Foreign Capital, Natural Resource Rents and Financial Development: A New Approach

2020 ◽  
pp. 097215092096136
Author(s):  
Muhammad Shahbaz ◽  
Mohammad Ali Aboutorabi ◽  
Farzaneh Ahmadian Yazdi
Keyword(s):  
Financial Development ◽  
Natural Resource ◽  
Capital Accumulation ◽  
Foreign Capital ◽  
New Approach ◽  
Resource Rents ◽  
Long Run ◽  
Natural Resource Rents ◽  
Rich Countries ◽  
The Impact

This article explores the impact of financial development on the ‘natural resources rents–foreign capital accumulation nexus’ in selected natural resource–rich countries during 1970Q1–2016Q4. In doing so, we propose a new approach by applying the autoregressive distributed lag (ARDL) rolling regression technique for our empirical purpose. The results show that financial development has a positive and significant effect on the way natural resource rents affect foreign capital in the case of Australia, Chile, Ecuador, Egypt and Peru in both the short run and the long run. We achieve the same results in the case of Colombia and Iran too, but just in the long run. Also, short-term and long-term negative effects of financial development on the rents–foreign capital nexus are witnessed just in the case of Algeria. We provide some empirical evidence for further robustness of our findings. Finally, we suggest that there is a necessity for the development of the financial system in natural resource–rich countries to reach higher levels of foreign capital, which has a crucial role in their economic growth.

scholarly journals IMPORTANT LESSONS FROM STUDYING THE CHINESE ECONOMY

2010 ◽  
Vol 55 (03) ◽  
pp. 419-434 ◽  
Author(s):  
GREGORY C. CHOW
Keyword(s):  
The United States ◽  
Chinese Economy ◽  
Economic Science ◽  
Republic Of China ◽  
Economic Advice ◽  
Chinese Official ◽  
The Government ◽  
The 1960S ◽  
Almost All ◽  
Official Data

In 1979 the United States and China established normal diplomatic relations, allowing me to visit China and study the Chinese economy. After doing so for 30 years since and advising the government of Taiwan in the 1960s and the 1970s and the government of the People's Republic of China in the 1980s and the 1990s, this is an opportune moment for me to summarize the important lessons I have learned. The lessons will be summarized in four parts: on economic science, on formulating economic policy and providing economic advice, on the special characteristics of the Chinese economy and on the experience of China's economic reform. At the beginning, I should comment on the quality of Chinese official data on which almost all quantitative studies referred to in this article were based. Chow (2006) has presented the view that by and large the official data are useful and fairly accurate. The main justification is that every time I tested an economic hypothesis or estimated an economic relation using the official data the result confirmed the well-established economic theory. It would be a miracle if I had the power to make the Chinese official statisticians fabricate data to support my hypotheses. Even if I had had the power, most of the data had already been published for years before I conceived the ideas of the studies reported in this article.

scholarly journals Turkey’s “Zero Problems with the Neighbors” Policy: Was It Realistic?

2017 ◽  
Vol 4 (2) ◽  
pp. 149-167 ◽  
Author(s):  
Ali Askerov
Keyword(s):  
Foreign Policy ◽  
Policy Formulation ◽  
Foreign Affairs ◽  
The Political ◽  
Special Importance ◽  
Political Leaders ◽  
National Interests ◽  
New Approach ◽  
The Government ◽  
Economic Developments

With the advancement of power in 2002, the Justice and Development Party (AKP) has introduced revolutionary policies in Turkey in various realms, including foreign affairs. The new trend in the foreign policy focused on not having problems with neighbors. This could be possible or nearly possible theoretically but eliminating century-long and deep-rooted conflicts with some of the neighbors would not be easy in practice. The new idealistic/moralistic approach necessitated new ways of policy formulation based on mutual gains and unthinkable concessions on the part of Turkey. Ankara’s new approach had given a special importance to building bridges of trust with the neighbors, which also seemed attractive to the political leaders of the neighboring states. This idealistic/moralistic approach was vulnerable to the dynamic political and economic developments in the region and the world in general. The policy did not have a power of sustainability due to the various old, new, and emerging problems around Turkey and hence, the government had to give it up gradually and take a new course of foreign policy based on realistic approaches to defend its national interests.

scholarly journals Analysis of financial development and industrial structure transformation

2021 ◽  
Vol 235 ◽  
pp. 02080
Author(s):  
Shuwei Harold Sun ◽  
Allen Wang ◽  
Huan Yu
Keyword(s):  
Financial Development ◽  
Industrial Structure ◽  
High Tech ◽  
Financial Industry ◽  
Estimation Model ◽  
Moment Estimation ◽  
Investment Structure ◽  
The Government ◽  
Role Of The Government ◽  
The Impact

This paper uses the relevant data from 2008 to 2017 to construct a multiple linear regression equation, and uses the generalized moment estimation model to explore the impact of financial development on industrial structure adjustment from the perspective of financial scale and efficiency. The results show that financial efficiency can promote the rationalization and upgrading of industrial structure, but the impact of financial scale on industrial structure is two-sided. Increasing financial scale can increase the amount of industrial financing and accelerate the process of industrial structure upgrading. However, blindly increasing the supply of loans will lead to the birth of bad investment, thus failing to promote the rationalization of industrial structure. Based on this, this paper puts forward some policy suggestions, such as promoting the diversified development of the financial industry, improving the imbalance of financial development in various provinces, promoting the reasonable investment structure and the development of high-tech industry, and giving full play to the role of the government.

scholarly journals Pemanfaatan Teknologi Informasi dan Komunikasi Dalam Mengakses Kredit Bagi Petani

2020 ◽  
pp. 125-142
Author(s):  
Laras Sirly Safitri
Keyword(s):  
Interest Rates ◽  
Information And Communication Technology ◽  
Communication Technology ◽  
Agricultural Sector ◽  
Formal Institutions ◽  
Government Financing ◽  
Credit Programs ◽  
Information And Communication ◽  
Cultivation Technology ◽  
The Government

Pemanfaatan Teknologi Informasi dan Komunikasi (TIK) bagi petani dalam mengakses kredit masih rendah. Hal ini ditunjukkan oleh rendahnya aksesibilitas petani terhadap program-program kredit. Informasi-informasi yang berkenaan program pembiayaan/kredit dari pemerintah belum diperoleh petani secara merata. Bahkan, seringkali informasi tersebut tidak diperoleh sama sekali. Di samping itu, petani masih beranggapan bahwa program-program kredit yang ditawarkan oleh lembaga formal memiliki prosedur yang panjang, sulit dan berbelit-belit. Oleh karena itu, seringkali petani pada akhirnya memilih untuk memperoleh modal dari kredit yang ditawarkan oleh lembaga nonformal, meskipun dengan bunga yang tinggi. Teknologi Informasi dan Komunikasi (TIK) dapat menjadi solusi untuk meningkatkan akses petani terhadap program pembiayaan/kredit dari pemerintah. Hal ini juga perlu diupayakan oleh pemerintah sebagai peningkatan pelayanan publik bagi petani (e-Government). Dengan memanfaatkan Teknologi Informasi dan Komunikasi (TIK), diharapkan dapat membuka akses petani terhadap berbagai informasi terkait program kredit dari pemerintah serta dapat pula membantu petani untuk memperpendek prosedur yang harus dilalui dalam memperoleh kredit. Selama ini pemanfaatan Teknologi Informasi dan Komunikasi (TIK) pada sektor pertanian, sebagian besar masih terfokus pada informasi seputar teknologi budidaya dan pemasaran hasil pertanian. Sehingga diperlukan perhatian khusus dari pemerintah untuk memberikan layanan dan informasi terkait kredit bagi petani.   Utilization of Information and communication Technology (ICT) for farmers in accessing credit is still low. This is addressed by the low accessibility of farmers to funding / credit programs from the government that has not been obtained evenly. In fact, often the information is not obtained at all. Besides that, farmers still think that credit programs offered by formal institutions have a long, difficult, and complicated procedure. Therefore, often farmers ultimately choose to obtain capital and credit offered by non-formal institutions, even with high interest rates. Information and communication technology (ICT) can be a solution to improve farmers' access to government financing or credit programs. It also needs to be pursued by the government as an increase in public services for farmers (e-government). By utilizing information and communication technology (ICT), farmers are expected to be able to open access to various information related to credit programs from the government and can also help farmers to shorten the procedures that must be passed in obtaining credit. During this time the use of information and communication technology (ICT) in the agricultural sector is still largely focused on information about cultivation technology and marketing of agricultural products so that special attention is needed from the Government to provide services and information related to credit for farmers.

scholarly journals Tracking the Deadlock of the Struggle on Inclusive Citizenship Study of the Disability Movement in DIY Province

2020 ◽  
Vol 4 (1) ◽  
pp. 67-86
Author(s):  
Isnenningtyas Yulianti
Keyword(s):  
Local Government ◽  
Social Groups ◽  
Vulnerable Groups ◽  
Movement Model ◽  
Persons With Disabilities ◽  
Local Regulation ◽  
National Movement ◽  
The Government ◽  
Disability Movement ◽  
As If

Abstract   Inclusive citizenship is currently being fought for by groups that care about vulnerable groups. In Indonesia the ideals of inclusive citizenship are also fought for persons with disabilities. So far, persons with disabilities have become excluded social groups. The disability movement is intensely voicing inclusive citizenship through the struggle to form regulations that can bring changes to the lives of persons with disabilities, starting from the CRPD Convention, the Disability Persons Act, then local regulation of Disabilities. This paper will use the concept of structuration Giddens and confronting the disability movement in fighting for inclusive citizenship with efforts from the government to capture the issue of inclusive citizenship. The Disability Movement in Yogyakarta Province is a model of the movement that has succeeded in fighting for regional regulations for persons with disabilities. This movement was considered successful when the national movement struggled for the Law on Persons with Disabilities experiencing a deadlock, but in the process the disability movement has not been able to process the issue of inclusive citizenship in its struggle, and the local government as if it does not understand what the disability movement is trying to achieve. Instead of make realize the ideals of inclusive citizenship, the Disability Movement is trapped in an exclusive movement model. The Movement Model in DIY Province is an example in the struggle for inclusive citizenship which was initially considered successful but later suffered a deadlock.  

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