Scaling Up of Green Finance in a Post-COVID-19 Era

2022 ◽  
pp. 77-91
Author(s):  
Patrizio Giganti ◽  
Pasquale Marcello Falcone
Keyword(s):  
Financial Markets ◽  
Environmental Issues ◽  
Scaling Up ◽  
Financial Systems ◽  
Green Finance ◽  
Strategic Niche Management ◽  
Multi Level ◽  
Novel Concept

Transitioning towards sustainability requires fundamental changes in policies, institutions. Green Finance is a novel concept which is discussed to address current environmental issues. This chapter illustrates obstacles and solutions to the greening of financial systems to provide an overview on the scaling up of Green Finance in a post COVID-19. The frameworks of Strategic Niche Management and Multi-Level Perspective are used to walk the reader in analyzing relevant steps for sustainability, also in light of the COVID-19 pandemic. Implications are derived focusing on the concepts of mission-oriented policies and nudges applied to financial markets.

scholarly journals Research on the Development of City Financial Systems under the Rural Revitalization Strategy

2021 ◽  
Vol 5 (5) ◽  
pp. 14-19
Author(s):  
Jilu Liu ◽  
Qiaoyu Zhang ◽  
Xiaoming Zeng
Keyword(s):  
Economic Development ◽  
Product Innovation ◽  
Financial System ◽  
Agricultural Product ◽  
Credit System ◽  
Financial Systems ◽  
Rural Economic Development ◽  
Rural Revitalization ◽  
Multi Level ◽  
The City

The implementation of the rural revitalization strategy can provide a better solution for problems such as the “three rural” development limitations and the imbalance of urban and rural economic development as it is the key to comprehensive building of a well-off society. Based on Linhai City’s finance status, this article analyzes the financial needs of the city for a better economic development under the rural revitalization strategy which prioritizes the policy of building a city financial system. The city’s financial system should be organized in a multi-level stucture for better economic development. This will improve the credit system of villages and towns, strengthen agricultural product innovation financially, and improve the finances of rural residents.

Regulation and Regulators, 1993–2006

2020 ◽  
pp. 267-297
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Central Banks ◽  
Data Handling ◽  
Financial Systems ◽  
Settlement Systems ◽  
The Face ◽  
Implicit Belief ◽  
National Boundaries ◽  
Financial Transactions

By the 1990s the combination of internal deregulation and globalization led to a spectacular growth in the value of financial transactions both inside countries and across borders. There was a commensurate increase in pressure on payment and settlement systems to cope with the huge volume and variety of transactions. All this was of concern to those who regulated financial systems around the world. The speed and extent of the changes taking place, assisted by the advances made in the technology of communication and data handling, forced regulators to search for new ways of coping with the consequences, as the methods of the past were becoming inadequate. Globalization meant that national boundaries could no longer define the parameters within which financial systems operated, as all became integrated into international flows of short-term money and long-term finance. The complexities arose not only from the process of globalization and technological change but also from the disappearance of the barriers that had long separated different components within national financial systems. Rather than serving separate communities banks and financial markets increasingly competed with each other. In the face of these enormous changes regulators turned to the megabanks as a safe and secure way of monitoring and policing global financial markets. There was an implicit belief that the size and sophistication of these megabanks had made them to big to fail or even require the central banks to play a role as lenders of last resort.

Banks, Brokers, Bonds, and Currencies, 1970–92

2020 ◽  
pp. 36-56
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Exchange Rates ◽  
New World ◽  
Second World War ◽  
Financial Systems ◽  
Financial Activity ◽  
Divide And Rule ◽  
National Boundaries ◽  
Financial Transactions ◽  
Second World

After the Second World War governments prioritized banks over markets within both national and international financial systems. The result altered the balance between banks and financial markets firmly in the direction of the former. Banks responded by expanding, reaching a size and scale that allowed them to internalize financial transactions within a single organization. That position then changed from 1970 onwards with an end to the era of control and compartmentalization. The process of change involved the gradual removal of the national boundaries and segregated activities that had protected banks from competition. In this new world financial markets began to prosper. These included markets for stocks and bonds as well as the exponential growth of trading in foreign exchange as the regime of fixed exchange rates collapsed. This era saw the emergence of a new breed of megabanks that spanned the globe and engaged in all manner of financial activity. Serving their needs was a group of interdealer brokers who acted as intermediaries between these banks. The combination of the megabanks and the interdealer brokers undermined the ability of regulators to police both banks and financial markets through a policy of divide and rule.

scholarly journals Climate Litigation in Financial Markets: A Typology

2019 ◽  
Vol 9 (1) ◽  
pp. 103-135 ◽  
Author(s):  
Javier Solana
Keyword(s):  
Financial Markets ◽  
Research Area ◽  
Financial Systems ◽  
Public Authorities ◽  
The Past ◽  
The World ◽  
Private And Public ◽  
Sustainable Finance ◽  
New Research

AbstractOver the past few years, the number of climate cases being filed against corporations and public authorities around the world has been on the rise. Aware of the central role of finance in economic development, the financial sector has remained vigilant. Traditionally, climate litigation in financial markets had been rare, but that seems to be changing: in 2018 there were more cases filed than in any previous year. The development of existing and forthcoming private and public sector initiatives with the aim of promoting sustainable finance may usher in even greater numbers in the next few years. This article provides the first systematic overview of climate cases in financial markets and introduces a typology to classify this type of climate case. This classification reveals common issues across different financial systems and raises questions for further enquiry that define a new research area within the emerging literature on climate litigation.

Financial Structure and Incentives

2012 ◽  
Vol 221 ◽  
pp. R23-R30
Author(s):  
Martin Čihák ◽  
Asli Demirgüç-Kunt
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Risk Taking ◽  
Global Financial Crisis ◽  
Financial Sector ◽  
Financial Systems ◽  
Regulatory Approach ◽  
Private Incentives ◽  
The Global Financial Crisis

The article connects two streams of recent research on the financial sector. The first is the regulation literature, which emphasises the central role of incentives in the financial sector. It points out that the challenge of financial sector regulation, highlighted by the global financial crisis, is to align private incentives with public interest without taxing or subsidising private risk-taking. The second stream of research relates to financial structures and examines the mix of financial institutions and financial markets in an economy. It finds that, as economies develop, services provided by financial markets become comparatively more important than those provided by banks. The article brings these two streams together, pointing out that — as financial systems develop from bank-based to market-based — a traditional regulatory approach that relies on banking ratios becomes less effective. There is thus a greater need for properly monitoring and addressing the underlying incentive weaknesses in market-based systems.

The Effect of Chinese Green Transformation on Competitiveness and the Environment

2022 ◽  
pp. 257-279
Author(s):  
Poshan Yu ◽  
Andong Jiao ◽  
Michael Sampat
Keyword(s):  
Sustainable Development ◽  
Environmental Issues ◽  
Clean Energy ◽  
Chinese Government ◽  
Financial Products ◽  
Green Finance ◽  
Total Failure ◽  
Green Transportation ◽  
The Government ◽  
New Policies

People in China are paying more attention to environmental issues as they increase in importance and consequence. At the same time, the Chinese government has gradually begun paying more attention to the environment, advocating sustainable development. The government has been actively developing green financial products such as green loans, green insurance, green funds, and other financial products to help Chinese companies “go green” and reach peak carbon and carbon-neutral goals ahead of schedule. China attaches great importance to its “green transformation” goals, as can be seen from the number of new policies related to green and sustainable development. Under these circumstances, companies must follow the policy and carry out green upgrades or risk total failure. This chapter mainly discusses the background of what firms face in China's green finance environment, taking clean energy, green buildings, and green transportation as examples of how companies should adapt to these trends and improve their competitiveness.

Regulation and Regulators, 1970–92

2020 ◽  
pp. 108-129
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Banking Sector ◽  
Central Banks ◽  
Financial Systems ◽  
Financial Flows ◽  
Financial Activity ◽  
Markets And Institutions ◽  
Divide And Rule ◽  
National Boundaries ◽  
Formal Controls

Before 1970 regulators had relied on the principle of divide and rule as a way of keeping financial systems in order. What this meant in practice was that even in market-based economies authority was exercised behind national boundaries, aided by controls on international financial flows, and by insisting upon a degree of internal compartmentalization not only between banks and markets but also within the banking sector. By the 1970s it was becoming apparent that a growing proportion of financial activity was taking place away from those centres, markets, and institutions over which regulators could exercise some control. The result led governments to abandon formal controls and regulators to search for ways of supervising financial markets. Increasingly the solution was seen to lie with the megabanks as they had the capacity to monitor and police their own behaviour, and were closely supervised by central banks.

Indices, criteria and methods to evaluate institutional interests of enterprises and commercial banks at different levels of economic development

2021 ◽  
Vol 21 (1) ◽  
pp. 26-57
Author(s):  
Denis Shageev ◽  
Olga Kirillova
Keyword(s):  
Financial Markets ◽  
Public Administration ◽  
Commercial Banks ◽  
Institutional Economics ◽  
Banking Sector ◽  
Theoretical Foundation ◽  
Potential Growth ◽  
Depth Analysis ◽  
Multi Level ◽  
Different Levels

Competition development in production and banking sector of the economy, financial markets, and public administration based on digital and other innovative technologies in XXI century is associated with a disbalance in institutional interests of various entities, including banks and enterprises. The article offers indicators, criteria and methods to assess this imbalance. Further, the authors intend to report the methods that will allow to harmonize the institutional interests of the latter two subjects to enhance their efficiency on the basis of these assessments. In-depth analysis of the studies in Russia and abroad allows us to identify seven new terms for the development of institutional economics: “institutional interest” (II); “imbalance and balance of institutional interests” (III and BII); “index of intuitional interests” (III); “criterion of institutional interests” (CII); ”balance and imbalance level of institutional interests“(BLII and ILII); “potential growth balance and imbalance level of institutional interests” (PGBLII and PGBILII)”. This provided a theoretical foundation to develop a new method and propose a new scientific category “supermarket of indices of institutional interests” (SIII). SIII is represented as a multi–level table including more than 425 indices on the basis of which CII is calculated. BLII (ILII) is offered to be measured through membership function according to Harrington scale using fuzzy III of different forms. Final assumptions of the method and its testing will be reported in further publications of the authors.

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