Examining the Development of Banking Sector Regulations and Supervision Practices across BRICS and G7 Countries

The study examines the development in the banking regulatory practices across BRICS nations over the period 2000–2019. The convergence and sustainability of the regulatory framework in BRICS nations to G7 norms have also been assessed. The analysis is based on five key regulatory measures, which include activity restrictions, entry requirements for a new bank, foreign bank entry restrictions, capital stringency, and deposit insurer powers. The study constructs the regulatory indexes based on the central bank responses to the Bank Regulation and Supervision Survey (BRSS) conducted by the World Bank. To estimate the indexes, the study follows Barth, Caprio, and Levine guidelines. The result reveals that the regulators of BRICS countries impose higher restrictions on bank activities than in the G7 nations. Furthermore, the United Kingdom and Brazilian bank regulators are more liberal and imposed fewer restrictions on insurance activity only. In addition, getting a bank license is tough in both regions. Regulators allow only fit and proper applicants into the banking domain. Furthermore, the authors find that the requirements for capital are becoming more restricted in BRICS nations between 2003 and 2019 to align with Basel capital accords, relative to G7 nations. The study documents a convergence in the banking licensing requirements, and limitations on foreign bank entry and official supervisory powers in the BRICS countries with the G7 nations. The study suggests that the regulators must offer freedom to banks’ activities with increasing supervision, and it boosts the competition in the banking sector and enhances customer welfare. Furthermore, the policymakers need to redesign the deposit insurance mechanism and equip deposit insurers with more powers to enhance the safety of depositors’ interests and minimize the moral hazards in the banking sector in both regions.

Exiles as Stakeholders

This chapter examines how much influence exiles are entitled to wield in the homeland. I situate this question in the broader boundary problem in democratic theory: how to determine who is entitled to participate in collective decision-making. I examine two leading principles of inclusion, and then elaborate on and apply the stakeholder principle: insofar as exiles have particular interests at stake, they are entitled to a correspondingly weighty say. The stakeholder principle admits of a hierarchy of stake and say, which protects against the moral hazards of ‘long-distance nationalism’ while reaffirming that identification alone entitles exiles to some say. I outline three types of interests exiles can have at stake and illustrate the competing interests within a stakeholder community, and the problem of some exiles having disproportionate influence. The stakeholder principle correctly diagnoses worries about ‘armchair revolutionaries’: the problem with exile influence is not when exiles have a say, but when they have too much of a say relative to others.

Revitalizing Educations to Realize a New Business Platform in Indonesia

Abstract—Companies must build new business models and platforms to survive in an uncertain business climate, economic disruption wave, and the COVID-19 pandemic. As the anticipation of all ecosystems changes, companies need superior human resources, actively carry out corporate transformation programs, and implement good corporate governance values to avoid moral hazards and a greater risk of failure. Revitalization of education, supported by corporate universities, workshops, internships, and comparative studies, can produce superior human resources and realize new business platforms in Indonesia. This qualitative research relies on data triangulation to interpret the phenomenon of link and match. Keywords: revitalization, business platform, education, transformation, human resources Abstrak—Kebutuhan membangun model dan platform bisnis baru perusahaan bertahan dalam iklim bisnis yang tidak menentu, gelombang gangguan ekonomi, dan pandemi COVID-19. Sebagai antisipasi segala perubahan ekosistem, perusahaan membutuhkan sumber daya manusia yang unggul, aktif melaksanakan program transformasi perusahaan, dan menerapkan nilai-nilai tata kelola perusahaan yang baik untuk menghindari moral hazard dan risiko kegagalan yang lebih besar. Revitalisasi pendidikan yang didukung oleh corporate university, workshop, magang, dan studi banding, dapat menghasilkan sumber daya manusia yang unggul dan mewujudkan platform bisnis baru di Indonesia. Penelitian kualitatif ini bertumpu pada triangulasi data untuk menginterpretasikan fenomena link and match. Kata kunci: revitalisasi, platform bisnis, pendidikan, transformasi, sumber daya manusia

The Challenge against Economic Regulation Ethics under the COVID-19 Epidemic: An Analysis of Unethical Behavior of Convenience

Purpose: Under the COVID 19 epidemic, public interest should be treated as a kind of public ethics. From the perspective of economic regulation, this study regards unethical behavior arising from the pursuit of convenience as a challenge against the public interest. It attempts to analyze the relationship between convenience and moral behavior from the perspectives of moral philosophy and psychology, reveal the factors influencing occurrence of unethical behavior of convenience, and express opinions on the construction of citizen morality under the epidemic. Method: By combining literature research and life cases, analysis is made on unethical behavior of convenience in life. Results: Convenience is a need in human moral life, and people may have unethical behaviors in the pursuit of convenience. The degree of convenience in the context of moral life, the clarity of moral clues, whether moral evasion is successful, and the tolerance of moral hazards are factors that affect whether individuals commit unethical behaviors in the pursuit of convenience. Conclusion: Respect for individual convenience is also respect for individual human rights, and overall convenience is the inherent requirement of social moral life. The epidemic has significantly impacted individual lives and public lifestyles. It is undoubtedly an important means to prevent and control the COVID-19 epidemic by regarding public interests as public ethics. For the need to jointly prevent and control the epidemic, it is recommended that schools incorporate convenience-related moral education content in light of the epidemic situation.

Framework of Blockchain-Supported E-Commerce Platform for Small and Medium Enterprises

Small and medium enterprises (SMEs) play an important role in promoting the national economy and providing employment opportunities. E-commerce platforms may facilitate transactions between these enterprises. However, transactions on the e-commerce platform are non-face-to-face, strongly virtual, and variable, resulting in SMEs often facing moral hazards and opportunistic behaviors. Blockchain is a distributed ledger consisting of an encryption algorithm, consensus mechanism, and smart contracts, having the characteristics of authenticity, security, transparency, and unforgeability. Thus, the problems faced by SMEs can be resolved by combining e-commerce platforms and blockchain technology. In this study, we first provide a conceptual framework for blockchain-supported e-commerce platforms for SMEs. Second, based on this conceptual framework, we build a total business architecture. Finally, we propose three key applications to illustrate how the platform facilitates SMEs in solving financing and trading problems. This study provides significant guidance for the operation and management of blockchain-supported e-commerce platforms for these enterprises.

Psychosocial impacts of COVID-19 upon a diverse Australian oncology workforce: From doctors to ancillary staff.

e23016 Background: Potential moral hazards from COVID-19 for patient-facing oncology staff include rationalizing treatment, but prior research into staff distress has not included ancillary/administrative staff or compared geographic settings. We sought to document measures of distress and perceived preparedness from diverse oncology staff during the COVID-19 pandemic response, and correlate these with unfolding events. Methods: We utilised a mixed-methods approach comprising weekly diarising of executive communications and events-by investigators, and prospective self-administered online surveys-by staff. Survey domains included perceived institutional preparedness, personal wellbeing, and perceived stress using a distress thermometer (0-10, no-extreme distress). Responses were Likert-scaled or free-text. Quantitative responses were aggregated by role/site and analysed using R. These were correlated with emergent qualitative themes using the Framework Method. The study was conducted at a metropolitan and a regional hospital in Queensland, Australia. Results: 12 surveys across 18 weeks commencing April 3, 2020 (encompassing 1st lockdown, lockdown easing, and 2nd lockdown) had 993 individual responses. 40% respondents were located regionally. Role categories included: nursing (50%), allied health (18%), medical (16%), administrative (15%), ancillary (e.g. cleaner, food service) (1%). Emergent themes were: S trategies for protection- at work and home. Up to 27% respondents reported being able to attend to critical personal needs only sometimes or less, although patients were perceived to be well supported most/all of the time (>90% responses). Navigating rules and keeping up-high levels of perceived institutional preparedness in >75% responders coexisted alongside fluctuating levels of self-reported distress, from median 5 (IQR 3-7) at 1st lockdown outset to 1 (IQR 1-4) after lockdown restriction easing. Tempered optimism-pride in one’s place was reported both as reflecting healthcare worker identity and as Australians in the context of low local infection rates. No significant differences in distress or preparedness perceptions were evident comparing geographic sites. Framing the new normal-although respondents longitudinally reported increasing familiarity with pandemic directives, distress levels increased concurrently with the announcement of 2nd lockdown. Conclusions: In the context of low local COVID-19 infection rates, oncology staff regardless of role and geographic setting reported high perceptions of institutional preparedness. Distress levels increased concurrently with lockdown phases and reports of distress and psychosocial workload fatigue were made by various workers including administrative and ancillary. These should be considered frontline staff for the purpose of workplace psychosocial support in pandemic responses.

Venture Capital Finance – Eliminating Double Sided Moral Hazards Through Trade-off Between Economic and Behavioural Economic Aspects – A Case Analysis

Venture capital finance has two aspects, the economic aspect and the behavioural economic aspect. The economic aspect includes issues such as conflict of interest between the entrepreneur and the venture capitalist (VC), asymmetric information, moral hazard, and compensation issues for both the parties. The behavioural economic aspect is related to relational factors such as empathy and a feeling of fairness and trust shown by both the parties.Therefore, while deciding the financer, entrepreneur should consider both relation aspect and value add services of the financier and strike optimal trade-off. The ensuing case analysis has been carried out focusing on elimination of double sided moral hazards through a proper trade-off between economy and behavioural economic theories (aspects).The performance of the venture can be enhanced by balancing both of these theories in practice. An equity distribution that represents economic reward is a source of motivation for both the parties to put optimal efforts towards the success of the venture. This was seen in the case analysis, when the parties perceived the initial equity distribution agreement as fair, the satisfaction level of all the parties increased, leading to the reduction in the possibility of double-sided moral hazard and ensuring the success of the venture. Moreover, the analysis shows that information sharing and two-way communication increases trust and improves decision quality. It further focusses on how feedback and proper work distribution results in efficiency of performance for each of the stakeholders, leading to reduced probability of double-sided moral hazards.

Conclusion

This book shows that Chinese leaders are able to effectively orchestrate their economic statecraft. China’s distinctive approach originates with domestic ideas and institutions. Across four cases, China’s orchestration combined delegation with incentives, attracted participation by regional authorities and enterprises, and facilitated interest alignment among implementing actors. Beijing thus successfully mobilized domestic actors to expand trade and investment. When problems with enterprise malfeasance, policy stretching, and moral hazards emerged, central leaders proved capable of reversing course. After reiterating these core findings, this chapter explains how Beijing’s economic statecraft exacerbated populist anxieties, undermining key policy objectives. For countries targeted by China’s economic statecraft, the policy implications are broadly reassuring. It concludes by comparing China’s approach with the United States, Germany, and Japan, and suggesting several paths forward for future studies in comparative economic statecraft.