The global financial crisis in Denmark and Sweden: a case of crisis management ‘lite’

Author(s):  
Lotte Jensen ◽  
Sysser Davidsen
2016 ◽  
Vol 5 (1) ◽  
Author(s):  
Najeeb Zada ◽  
Ahcene Lahsasna ◽  
Muhammad Yusuf Saleem

The recent financial crisis resulted destructive effects on finance industry. Islamic financial industry (IFI) is still naïve and largely untested in the face of a major financial turmoil. Major issues and uncertainties of the insolvency of IFI include the issue of moral hazard, government bailouts, excessive risk taking and deposit insurance. This paper addresses the issue of crisis management in IFI from the perspective of al-Siyasah al-Shar’iyyah and attempts to derive public policy guidelines that are useful in developing a timely and efficient crises management framework for Islamic finance industry. By using qualitative methods, the study found that the global financial crisis resulted in great destruction of financial institution. Although Islamic finance was quite immune to the global crisis as compared to its conventional peer, concerns still exist. It is time that Islamic finance industry learns from the financial woes of the rest of the world. =========================================== Krisis keuangan baru-baru ini mengakibatkan efek destruktif pada industri keuangan. Industri keuangan Islam (IKI) masih naif dan sebagian besar belum teruji dalam menghadapi gejolak keuangan besar. Isu utama dan ketidakpastian dari kebangkrutan IKI meliputi moral hazard, dana talangan pemerintah, pengambilan risiko yang berlebihan dan asuransi deposito. Makalah ini membahas isu manajemen krisis dalam IKI dari perspektif al-Siyasah al-Shar'iyyah dan berusaha mendapatkan pedoman kebijakan publik yang bermanfaat dalam mengembangkan kerangka kerja manajemen krisis yang tepat waktu dan efisien bagi IKI. Dengan menggunakan metode kualitatif, studi ini menemukan bahwa krisis keuangan global mengakibatkan kehancuran besar bagi industri keuangan. Meskipun keuangan Islam cukup kebal terhadap krisis global dibandingkan dengan keuangan konvensional, kekhawatiran masih ada. Sudah saatnya industri keuangan Islam belajar dari krisis keuangan dari seluruh dunia.


Author(s):  
Michael Schillig

Recovery and resolution planning and early intervention constitute an integral part of an enhanced and strengthened framework for regulation and supervision with a focus on resolution planning and resolvability assessment. As an institution’s financial position deteriorates, the supervisory process may naturally lead on to crisis management and resolution. As a result of the global financial crisis and the eurozone crisis, the jurisdictions under consideration here have restructured their institutional frameworks for regulation, supervision, and resolution. This chapter seeks to provide an overview of these institutional changes and developments. From an institutional perspective, it contextualizes the discussion in the following chapters.


2016 ◽  
Vol 4 (2) ◽  
pp. 104-114
Author(s):  
Cristine De Clercy ◽  
Peter Ferguson

A series of crises and traumatic events, such as the 9/11 attacks and the 2008 global financial crisis, seem to have influenced the environment within which modern political leaders act. We explore the scholarly literature on political leadership and crisis since 2008 to evaluate what sorts of questions are being engaged, and identify some new lines of inquiry. We find several scholars are contributing much insight from the perspective of leadership and crisis management. Several analysts are investigating the politics of crisis from a decentralist perspective, focusing on local leadership in response to challenging events. As well, studying how citizens interpret, respond to, or resist leaders’ signals is a developing area of inquiry. While our study reveals some debate about the nature of crisis, and whether the context has changed significantly, most of the scholarship reviewed here holds modern politicians face large challenges in exercising leadership within precarious contexts.


2011 ◽  
Vol 9 (1) ◽  
pp. 233-243 ◽  
Author(s):  
Olya Afanasieva

This paper investigates the role and necessity of system of crisis management of banking activity in present-day conditions. Particular attention is paid to the crisis management that is realized on the level of government and central bank. An overview and comparison of major anti-crisis instruments both in Ukraine and foreign countries is given. The research pays special attention to importance of Asset management companies. It is stated that crisis regulation should have preventive character, oriented at working out instruments and realization of such measures that would minimize the negative effect of external and internal surroundings.


2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.


ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis 


2014 ◽  
Vol 7 (2) ◽  
pp. 159-167
Author(s):  
Kevin Garlan

This paper analyses the nexus of the global financial crisis and the remittance markets of Mexico and India, along with introducing new and emerging payment technologies that will help facilitate the growth of remittances worldwide. Overall resiliency is found in most markets but some are impacted differently by economic hardship. With that we also explore the area of emerging payment methods and how they can help nations weather this economic strife. Mobile payments are highlighted as one of the priority areas for the future of transferring monetary funds, and we assess their ability to further facilitate global remittances.


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