WorldWideScience

Sample records for bank policy implications

  1. Opposite policy implications in the theory of money and banking

    Directory of Open Access Journals (Sweden)

    Jefferson D. P. Bertolai

    2013-12-01

    Full Text Available The recent financial crisis creates a demand for welfare-based models of financial regulation and liquidity shortages. In this paper, we review policy implications from two cornerstone models and show that they imply different responses in terms of intertemporal returns of financial liabilities. In the first case, a version of the Cavalcanti and Wallace (1999, random-matching model, monitored agents are led to promote inflation in bank-issued money. In the second case, a sequential-service version of the Diamond and Dybvig (1983 model of bank runs with insolvency, increases in long-run returns can prevent bank runs by reducing the provision of liquidity.

  2. BANK OF ENGLAND’S MONETARY POLICY COMMITTEE – ASSESSING THE IMPORTANCE AND THE IMPLICATION UPON MONETARY POLICY

    Directory of Open Access Journals (Sweden)

    HORAȚIU FLORIN ȘOIM

    2012-05-01

    Full Text Available The monetary policy strategies arround the world have been envolving in the last two decades considerable. In the past, central banks’ have been associated with a „veil of mistery” having at their grounds the so-called policy mistique. Nowadays, the new monetary policy strategy – inflation targeting – promoted by many countries stablished new coordinates for monetary policy. In this paper we focuse upon the monetary policy committee with a special focus upon the Bank of England’s case, because of the special track of this committee in several fields: interest rates expectations, other asset prices, the communication of the central bankers, publishing the minutes of the committees.

  3. THE IMPLICATIONS OF MARKETING ACTIVITY IN RISK ANALYSIS, CORE ELEMENT OF LENDING POLICY TO COMMERCIAL BANKS

    Directory of Open Access Journals (Sweden)

    Magda Florin-Mihai

    2013-04-01

    Full Text Available In the present financial context first affected by the lack of trust generated by the important bankruptcies in the USA and secondly by the global economic crisis, financial institutions are more than ever focused on applying market research, customer segmentation procedures and based upon them adapted credit strategies. The process is based on the fundaments of the marketing mix, much more carefully than before in order to maximize efficiency and market position or to consolidate, increase market share by taking advantage of opportunities or diminishing the effects of the present unfavorable economic climate. Analysis procedures based on differential risk models can be identified, the starting point being precisely the involvement of marketing by the market segmentation process and the concepts of “customer centricity” and “client relationship management”, specific credit policies being based upon them. The present paper intends to bring forth the client segmentation criteria practiced by top Romanian commercial banks, as the right segmentation process will reflect on the typology of financing over time. Furthermore, client segmentation tends to influence banking management in order to administer the risks arising from the credit activities, as it is in strict connection to the elements and processes involved in determining a correct rating of the applicants for funding.

  4. Policy implications

    International Nuclear Information System (INIS)

    The forces at the disposal of the superpowers make it highly improbable that either would wittingly embark on a course that leads to nuclear war with the other. It is much more likely that they would find themselves on such a path because of a miscalculated attempt to manipulate the fear of nuclear war, or as the upshot of an altercation that did not appear to run such a risk on that might not have even involved them the outset. The authors have depicted the phalanx of factors that might conspire to produce such a catastrophic chain of events. That synthesis has led us to conclusions regarding these risk, and to recommend measures some to be taken by the United States independently, others in cooperation with the Soviet Union that would reduce the likelihood of crisis and of ensuing escalation. This paper summarizes these findings and policy recommendations

  5. Monetary policy, bank size and bank lending: Evidence from Australia

    OpenAIRE

    Liu, Luke

    2011-01-01

    The transmission of monetary policy may hold the key to explaining the effects of policy on the economy. The objective of the study is to assess the importance of the bank lending channel in the transmission of monetary policy in Australia. In this paper, we found that the effectiveness of monetary policy varies with the size of the bank as well as the type of the loan. For different asset size and different kinds of loans, the effect of monetary policy is different. Thus, policy has distribu...

  6. Essays on bank capital and balance sheet adjustment in the UK and US, and implications for regulatory policy

    OpenAIRE

    Osborne, Matthew

    2013-01-01

    The financial crisis prompted widespread interest in developing a better understanding of how market and regulatory driven capital targets affect bank behaviour. Such considerations are important to assessing the effects of shocks to banks' capital ratios on their supply of financial intermediation services to the real economy, whether those shocks originate in higher regulatory capital requirements, unexpected losses, or demands from investors or counterparties. In particular, my research is...

  7. Central bank learning and monetary policy

    OpenAIRE

    Mewael F. Tesfaselassie

    2008-01-01

    We analyze optimal monetary policy when a central bank has to learn about an unknown coefficient that determines the effect of surprise inflation on aggregate demand. We derive the optimal policy under active learning and compare it to two limiting cases---certainty equivalence policy and cautionary policy, in which learning takes place passively. Our novel result is that the two passive learning policies represent an upper and lower bound for the active learning policy, irrespective of the s...

  8. Payments and Central Bank Policy

    DEFF Research Database (Denmark)

    Korsgaard, Søren

    This thesis consists of three chapters. The rst, "Paying for Payments", examines the role of interchange fees in payment card networks. The second, "Bank Liquidity and the Interbank Market" (co-authored with Mikael Reimer Jensen), investigates how banks' liquidity holdings at the central bank a e...

  9. 12 CFR 917.4 - Bank Member Products Policy.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Bank Member Products Policy. 917.4 Section 917.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD GOVERNANCE AND MANAGEMENT OF THE FEDERAL HOME LOAN... Bank's member products policy shall: (1) Address credit underwriting criteria to be applied...

  10. THE POLICY OF THE EXCHANGE RATE PROMOTED BY NATIONAL BANK OF ROMANIA AND ITS IMPLICATIONS UPON THE FINANCIAL STABILITY

    Directory of Open Access Journals (Sweden)

    Chifane Cristina

    2010-12-01

    Full Text Available The more profound world economic crisis has strongly marked the evolution of the Romanian financial system. The size of current account deficit, the relatively high external financing needs and the dependence of the banks on it, the high ratio between loans in foreign currency and deposits in foreign currency made of the Romanian economy, a risky destination for investors. In these conditions, since the end of 2008 and throughout 2009, the government's economic program was focused on reducing the external deficit in both public and private sector, on minimizing the effects of recession, on avoiding a crisis of the exchange rate and on cooling the inflationary pressures.

  11. Regulation of Communication Policy of Modern Banks

    Directory of Open Access Journals (Sweden)

    Ketova Natalia, P.

    2016-03-01

    Full Text Available The paper shows the need for effective communication commercial banks, revealed the possibility of interaction with customers through advertising, sponsorship, philanthropy, sales promotion, lobbying of interests of banking institutions. The principles for the regulation of communications to ensure consistency of communication complex, which cause a complex effect on the external environment, the creation of adaptive system of marketing communications. It is proved that the possibilities of implementing an active communication policy of modern banks in recent years is constantly increasing. This contributes to the extension of Internet technologies, the creation of remote service channels, the emergence of new tools and technologies to attract and retain customers. On the example of JSC "Sberbank of Russia" presented the technology of using the traditional tools of ATL and BTL communications, the formation of the system CSR – corporate social responsibility, building contact with customers, enhancing their loyalty to the Bank. Reveals the areas of regulation of the savings Bank of its activities on the creation of the daily value of services based on the principles of involvement and co-operation of the system "Client - Bank", "Bank - Company", "Bank – Employees".

  12. A Study of Philippine Monetary and Banking Policies

    OpenAIRE

    Bautista, Ernesto D.

    1992-01-01

    This study assesses the Philippine monetary and banking policies with the view of identifying preferred policy options and features of a monetary and banking policy program supportive of overall economic growth and agro-industrial development. It describes the following: the impact of existing monetary and banking policy on short- and long-term economic development and the legislative and administrative measures required to adopt and implement such a monetary and banking policy. It also ident...

  13. The Transmission of Monetary Policy through Conventional and Islamic Banks

    OpenAIRE

    Zaheer, S; Ongena, S.; Wijnbergen, S.J.G. van

    2011-01-01

    We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less than other small banks. In contrast large banks maintain their lending irrespective of their liquidity positions. Islamic banks, though similar in size to small banks, respond to monetary policy sho...

  14. Industries and the bank lending effects of bank credit demand and monetary policy in Germany

    NARCIS (Netherlands)

    Raabe, K.; Arnold, I.J.M.; Kool, C.J.M.

    2006-01-01

    This paper presents evidence on the industry effects of bank lending in Germany and asks whether bank lending to single industries depends on industry-specific bank credit demand or on monetary policy as determinant of bank credit supply. To this end, we estimate individual bank lending functions fo

  15. Banking Strategy Demography - Future Population Trend: Implication for Banking

    OpenAIRE

    Teo, Lee Koon; Tripathi, Sanjay; Kazi, Zaid

    2010-01-01

    The world is going through a major shift in demographic structure that will affect the economies and global markets in a major way over the next few decades. While extensive research has been done on the macro-economic implications of demographic changes, very little research has been conducted on the demographic challenges at an industry level or for firms and on how these firms should react. The banking sector, in particular has received little attention. The project is initiated by the Glo...

  16. Denying Foreign Bank Entry: Implications For Bank Interest Margins

    OpenAIRE

    Ross Levine

    2003-01-01

    This paper examines the impact of restricting foreign bank entry on bank net interest margins while controlling for (a) impediments to domestic bank entry, (b) the degree of foreign bank ownership of the domestic banking industry, (c) an array of bank-specific characteristics, (c) banking sectorconcentration, and (d) various country traits. Using data on almost 1200 banks across 47 countries, the results suggest that restricting foreign bank entry boosts bank net interest margins. Also, restr...

  17. Macroprudential policy at the Bank of England

    OpenAIRE

    Tucker, Paul; Hall, Simon; Pattani, Aashish

    2013-01-01

    A vital element of recent reforms to the UK architecture of financial regulation is the creation of a macroprudential authority at the Bank of England — the Financial Policy Committee (FPC). This article explains the role and powers of the FPC in relation to risks that threaten the resilience of the UK financial system as a whole. It also describes some of the processes supporting the new committee.

  18. Banking Credit, Policy Interest Rate and Reserve Requirements in Peru

    OpenAIRE

    Oscar Dancourt

    2012-01-01

    This paper evaluates the relevance of the "bank lending channel" of monetary policy transmission in Peru with disaggregated monthly data of the Peruvian banks balance sheets from January 2003 to December 2011. We study two policy instruments used during the inflation targeting regime: the short-term interest rate or policy rate and the reserve requirements on banks deposits. In a Bernanke-Blinder model where the monetary authority sets the interest rate instead of a monetary aggregate, the in...

  19. The transmission of monetary policy through conventional and islamic banks

    NARCIS (Netherlands)

    S. Zaheer; S. Ongena; S. van Wijnbergen

    2012-01-01

    We investigate the differences in banks' responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less t

  20. MONETARY POLICY FORCE EFFECT BY MEANS OF BANKS MONEY CREATION

    Directory of Open Access Journals (Sweden)

    Victoria COCIUG

    2014-07-01

    Full Text Available In the context of modern economy, banks play an essential role for sustainable growth, by ensuring economy with financial resources and driving impulses of monetary policy to economy. Monetary authorities influence significantly the bank's ability to fulfill this role. Thus, to achieve macroeconomic objectives, there is promoted particular monetary policy and are implemented various practical regulations for banks. In this article, we want to identify the existing relationship between monetary policy followed by the authorities and the ability of banks to create money with its impact on various practical regulations.

  1. Banks' Regulatory Buffers, Liquidity Networks and Monetary Policy Transmission

    OpenAIRE

    Merkl, Christian; Stolz, Stéphanie

    2009-01-01

    Abstract Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this paper analyzes the effects of banks? regulatory capital on the transmission of monetary policy in a system of liquidity networks. The dynamic panel regression results provide evidence in favour of the bank capital channel theory. Banks holding less regulatory capital and less interbank liquidity react more restrictively to a monetary tightening than their peers.

  2. Determinants of Dividend Policy in Kosovo Banking Industry

    OpenAIRE

    Besnik Livoreka; Arta Hoti; Erdin Maloku

    2015-01-01

    As salary to Managers and employees is dividend to Shareholders. There are several determinants influencing dividend policy on the banking Industry. A stable dividend policy gives positive signal to shareholders and can be seen as positive on the bank performance. In order to distribute dividend several factors are considered. With multivariable linear regression and the data from the “Financial Stability Report” of the Central Bank of Kosovo this paper tends to present the determinants which...

  3. Determinants of Dividend Policy in Kosovo Banking Industry

    OpenAIRE

    Besnik Livoreka; Arta Hoti; Erdin Maloku

    2015-01-01

    As salary to Managers and employees is dividend to Shareholders. There are several determinants influencing dividend policy on the banking Industry. A stable dividend policy gives positive signal to shareholders and can be seen as positive on the bank performance. In order to distribute dividend several factors are considered. With multivariable linear regression and the data from the “Financial Stability Report” of the Central Bank of Kosovo this paper tends to present the det...

  4. MONETARY POLICY FORCE EFFECT BY MEANS OF BANKS MONEY CREATION

    OpenAIRE

    Victoria COCIUG; Olga TIMOFEI

    2014-01-01

    In the context of modern economy, banks play an essential role for sustainable growth, by ensuring economy with financial resources and driving impulses of monetary policy to economy. Monetary authorities influence significantly the bank's ability to fulfill this role. Thus, to achieve macroeconomic objectives, there is promoted particular monetary policy and are implemented various practical regulations for banks. In this article, we want to identify the existing relationship between monetar...

  5. 12 CFR 614.4100 - Policies governing lending through Federal land bank associations.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Policies governing lending through Federal land bank associations. 614.4100 Section 614.4100 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Bank/Association Lending Relationship § 614.4100 Policies...

  6. Environmental management: The bank's policy approach

    International Nuclear Information System (INIS)

    In order to play a leadership role in the environmental recovery of central and eastern Europe, the Bank will pursue the following policy priorities: assistance to the countries of operations in environmental policy formulation, including the development of effective legal and regulatory instruments, the adoption of appropriate emissions and effluents standards and the creation of the institutional and human resources capacity to monitor and enforce them; promoting the use of a variety of economic instruments to address the underlying cause of environmental degradation and the adoption of market-based techniques in environmental management programmes; encouraging the development of an environmental goods and services industry in the countries of operations, of commercially viable investments in environmental technologies and pollution prevention and control, and by funding environmental infrastructure projects; initiation of, or support for, special studies and programmes to address regional and national environmental problems and to promote environmental education within the population and institutions of the countries of operations; adoption of adequate environmental assessment, management planning, audit and monitoring procedures throughout its activities; and promoting the adoption and implementation of procedures for provision of information to, and consultation with, all levels of government and the general public - especially potentially affected parties - concerning environmental matters

  7. Banks Information Policies, Financial Literacy and Household Wealth

    OpenAIRE

    Fort, Margherita; Manaresi, Francesco; Trucchi, Serena

    2012-01-01

    We investigate the causal effect of financial literacy on financial assets, exploiting banks information policies for identification. In Italy, banks who belong to the PattiChiari consortium have implemented policies aimed at increasing transparency and procedural simplification. These policies may affect individuals' financial literacy without involving any direct cost for clients in terms of time, effort or resources, as we show in the paper. We exploit confidential information on whether i...

  8. Banks Information Policies, Financial Literacy and Household Wealth A

    OpenAIRE

    Fort, Margherita; Manaresi, Francesco; Trucchi, Serena

    2012-01-01

    We investigate the causal effect of financial literacy on financial assets, exploiting banks information policies for identification. In Italy, banks who belong to the PattiChiari consortium have implemented policies aimed at increasing transparency and procedural simplification. These policies may affect individuals' financial literacy without involving any direct cost for clients in terms of time, effort or resources, as we show in the paper. We exploit confidential information on whether i...

  9. Bank Debt Regulations Implications for Bank Capital and Bond Risk

    OpenAIRE

    Stig Helberg; Snorre Lindset

    2013-01-01

    We use a structural model of default risk to study how optimal bank capital and bond risk are influenced by deposit insurance, implicit guarantees, depositor preference, asset encumbrance, and bail-in resolution frameworks. We find that these features of bank financing, in addition to having an immediate impact on bond debt risk, also change optimal bank capital, countering the first-order effect on bond debt risk. Bondholders' risk is thereby not materially affected, but shareholder value an...

  10. BANKS OFFER LOTTERY PRIZES: WHAT ARE THE IMPLICATIONS?

    OpenAIRE

    Shami, Majed; Omet, Ghassan; Bino, Adel; Khalaf, Bashar Abu

    2015-01-01

    The primary goal of this interdisciplinary paper is to examine whether or not the adoption of depositor-focused marketing tool (Lottery prizes) pays in the Jordanian banking system. The fact that about half of the commercial banks offer lottery (cash) prizes to their customers (depositors), it would be interesting for academics in finance and marketing, bank managers, and bank shareholders, to examine the impact of this marketing policy on the performance of this sector in terms of return on ...

  11. Policy Implications of Education Informatics

    Science.gov (United States)

    Carr, Jo Ann; O'Brien, Nancy P.

    2010-01-01

    Background/Context: This concluding article identifies the policy implications of education informatics and explores impacts of current copyright laws, legislative structures, publishing practices, and education organizations. Synthesizing the discussions in the preceding articles, this article highlights the importance of designing information…

  12. The Transmission of Monetary Policy through Conventional and Islamic Banks

    NARCIS (Netherlands)

    Zaheer, S.; Ongena, S.; van Wijnbergen, S.J.G.

    2011-01-01

    We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less t

  13. The transmission of monetary policy through conventional and Islamic banks

    NARCIS (Netherlands)

    S. Zaheer; S. Ongena; S.J.G. van Wijnbergen

    2013-01-01

    We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type—i.e., conventional versus Islamic—in Pakistan between 2002:Q2 and 2010:Q1. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less t

  14. Public attitudes to monetary policy and satisfaction with the Bank

    OpenAIRE

    Hills, Sally; Macallan, Clare

    2012-01-01

    The past few years have been an extraordinary period for the UK economy and monetary policy. This article examines how that has affected households’ awareness and understanding of monetary policy. Results from the Bank/GfK NOP survey suggest that public awareness of the policy framework has remained broadly constant throughout the life of the survey, but that the Bank’s asset purchase programme appears to be less well understood than the setting of interest rates. Satisfaction with the way th...

  15. Modern Trends of the European Central Bank's Monetary Policy Development

    OpenAIRE

    Maksym Shchegliuk

    2014-01-01

    The article singles out the definition, aim, direction and goals of monetary policy of the ECB, analyses the phenomenon of inflation and shows how the ECB implements measures on its regulation. The article investigates provisions of the Treaty on the Functioning of the European Union concerning monetary policy and defines the aims and instruments of monetary policy of the European Central Bank. It is shown and summarized the main principles of the ECB activities. The mechanism of monetary pol...

  16. Institutions, Policy and Banking Sector Development: A Reassessment

    OpenAIRE

    Ioannis FILIPPIDIS; Constantinos KATRAKILIDIS

    2014-01-01

    This paper investigates the links between institutional quality and government policy in banking sector development, using data from 80 low-, middle- and high-income economies during 1985–2007. In order to investigate the effect of economic, political and social institutions on bank-based development, we employ dynamic panel techniques and, more specifically, the system-GMM estimator, which controls for endogeneity among variables. The results demonstrate that: i) economic institutional quali...

  17. Monetary policy change of the Central bank of Poland

    OpenAIRE

    Kraś Ireneusz

    2015-01-01

    The National Bank of Poland is an institution which, in conjunction with the government is responsible for the implementation of country’s economic policy reinforces its democratic character. Provisions of its operation are governed by the Constitution of The Republic of Poland and by the Act on the National Bank of Poland. To this end, the objective of the present research is to analyse the proposed amendments in the Act on the NBP. The latter concerns the amendment procedures, term of offic...

  18. Policy and Economics of Managed Aquifer Recharge and Water Banking

    OpenAIRE

    Sharon B. Megdal; Peter Dillon

    2015-01-01

    Managed Aquifer Recharge (MAR) and water banking are of increasing importance to water resources management. MAR can be used to buffer against drought and changing or variable climate, as well as provide water to meet demand growth, by making use of excess surface water supplies and recycled waters. Along with hydrologic and geologic considerations, economic and policy analyses are essential to a complete analysis of MAR and water banking opportunities. The papers included in this Special Iss...

  19. Bank Liquidity, Interbank Markets, and Monetary Policy

    NARCIS (Netherlands)

    Freixas, X.; Martin, A.; Skeie, D.

    2010-01-01

    A major lesson of the recent financial crisis is that the interbank lending market is crucial for banks facing large uncertainty regarding their liquidity needs. This paper studies the efficiency of the interbank lending market in allocating funds. We consider two different types of liquidity shocks

  20. Determinants of Dividend Policy in Kosovo Banking Industry

    Directory of Open Access Journals (Sweden)

    Besnik Livoreka

    2015-08-01

    Full Text Available As salary to Managers and employees is dividend to Shareholders. There are several determinants influencing dividend policy on the banking Industry. A stable dividend policy gives positive signal to shareholders and can be seen as positive on the bank performance. In order to distribute dividend several factors are considered. With multivariable linear regression and the data from the “Financial Stability Report” of the Central Bank of Kosovo this paper tends to present the determinants which indicate the decision on following a certain policy. Results received from this paper is tended to inform the reader on understanding the role of determinants on dividend distribution as well as new researchers on having an additional opinion related to their future research.

  1. Factors Affecting the Financing Policy of Commercial Banks in Ethiopia

    Directory of Open Access Journals (Sweden)

    W/Michael Shibru

    2015-06-01

    Full Text Available Determining the optimal capital structure is one of the most fundamental policy decisions faced by financial managers. Since optimal debt ratio influences firm’s value, different firms determine capital structures at different levels to maximize the value of their firms. Thus, this study examines the relationship between leverage and firm specific (profitability, tangibility, growth, risk, size and liquidity determinants of capital structure decision, and the theories of capital structure that can explain the capital structure of banks in Ethiopia. In order to investigate these issues a mixed method research approach is utilized, by combining documentary analysis and in-depth interviews. More specifically, the study uses twelve years (2000 - 2011 data for eight banks in Ethiopia.   The findings show that profitability, size, tangibility and liquidity of the banks are important determinants of capital structure of banks in Ethiopia. However, growth and risk of banks are found to have no statistically significant impact on the capital structure of banks in Ethiopia. In addition, the results of the analysis indicate that pecking order theory is pertinent theory in Ethiopian banking industry, whereas there are little evidence to support static trade-off theory and the agency cost theory. Therefore, banks should give consideration to profitability, size, liquidity and tangibility when they determine their optimum capital structure.

  2. Factors Affecting the Financing Policy of Commercial Banks in Ethiopia

    Directory of Open Access Journals (Sweden)

    W/Michael Shibru

    2015-12-01

    Full Text Available Determining the optimal capital structure is one of the most fundamental policy decisions faced by financial managers. Since optimal debt ratio influences firm’s value, different firms determine capital structures at different levels to maximize the value of their firms. Thus, this study examines the relationship between leverage and firm specific (profitability, tangibility, growth, risk, size and liquidity determinants of capital structure decision, and the theories of capital structure that can explain the capital structure of banks in Ethiopia. In order to investigate these issues a mixed method research approach is utilized, by combining documentary analysis and in-depth interviews. More specifically, the study uses twelve years (2000 - 2011 data for eight banks in Ethiopia.   The findings show that profitability, size, tangibility and liquidity of the banks are important determinants of capital structure of banks in Ethiopia. However, growth and risk of banks are found to have no statistically significant impact on the capital structure of banks in Ethiopia. In addition, the results of the analysis indicate that pecking order theory is pertinent theory in Ethiopian banking industry, whereas there are little evidence to support static trade-off theory and the agency cost theory. Therefore, banks should give consideration to profitability, size, liquidity and tangibility when they determine their optimum capital structure.

  3. Formation of strategy and policy of banking credit operations management

    Directory of Open Access Journals (Sweden)

    O.V. Lysenok

    2016-03-01

    Full Text Available The article examines the strategic management of credit operations as the activities on credit strategies of banking institutions, the formation of goals, objectives, and the choice of methods to achieve them. The basis of this is the strategic management analysis of the factors affecting the lending operations, strategic planning, communication mechanisms of strategic and tactical decisions, monitoring the implementation of the strategy and timely adjustments. For the purpose of effective implementation of the developed strategy, the article argues that banks in modern conditions should develop their own internal credit policy which should cover the essential elements and principles of credit at these banks. The study determines that the credit policy is based on the factors determined by the amount of capital assets and loan portfolio, the structure of its clientele, specialization, location, presence of branch network, the situation in the money market.

  4. The Education Lending Policy of the European Investment Bank

    Science.gov (United States)

    Tuijnman, Albert

    2009-01-01

    The purpose of this article is to present the latest Education Lending Policy (ELP) of the European Investment Bank (EIB), adopted by the Board of Governors in 2008. It is structured in two parts. The first briefly presents the EIB in general and the evolution of its education lending portfolio in particular. This sets the stage for the second…

  5. Monetary policy, banking and heterogeneous agents

    NARCIS (Netherlands)

    M. Wolski

    2012-01-01

    The influence of heterogeneous expectations on monetary policy performance has gained a lot of attention in the recent years. It proved to be an important factor that, under some circumstances, may even destabilize the economy (Massaro, 2012). This paper investigates the phenomenon of heterogeneous

  6. Purifying Japan's Banks: Issues and Implications

    OpenAIRE

    Randall Morck; Bernard Yeung

    2006-01-01

    We use a simple real options framework and empirical data to establish that although Japanese banks hold borrowers’ shares, their interest is more aligned as a contractual claimant than a residual claimant of corporations. We then explain why the Japanese model of corporate governance was useful during the 'catching up' growth of that country's postwar reconstruction decades, but became problematic subsequently. The interests of shareholders, creditors, workers, and managers are more readily ...

  7. The reaction of bank lending to monetary policy in Brazil

    Directory of Open Access Journals (Sweden)

    Tony Takeda

    2005-03-01

    Full Text Available This paper evaluates the relevance of the "bank lending channel'' of monetary policy transmission in Brazil. Disaggregated monthly data of the Brazilian banks balance sheets from December 1994 to December 2001 are analyzed. In addition to the short-term interest rate, we consider the effects of another monetary policy instrument frequently used in Brazil, represented by reserve requirements on overall banks deposits - demand, savings, and time deposits. Dynamic panel data techniques are employed. Our results suggest that the impact of reserve requirements is relevant and stronger for larger banks loans. This finding results from the progressive reserve rates required from banks, which affect to a greater extent banks with larger deposit volumes.Este artigo avalia o canal de empréstimos bancários na transmissão da política monetária. A análise foca os dados mensais desagregados do balanço patrimonial dos bancos comerciais brasileiros de dezembro de 1994 a dezembro de 2001. Em adição à taxa básica de juros de curto prazo, este estudo considera também os efeitos de um outro instrumento de política monetária usado freqüentemente no Brasil, representado pelos recolhimentos compulsórios sobre os depósitos à vista, de poupança e a prazo. A partir de técnicas de análise de dados em painel dinâmico, os resultados dos testes sugerem que o impacto dos compulsórios é relevante e é mais forte sobre os empréstimos dos grandes bancos, conclusão que decorre de recolhimentos compulsórios de caráter progressivo, que afetam mais fortemente os bancos com maiores volumes de depósitos.

  8. Bank Consolidation in Nigeria: Marketing Implications and Challenges for the Surviving Banks

    OpenAIRE

    IE Ernest

    2012-01-01

    The purpose of this paper is to explore the marketing implications of the Nigerian bank consolidation with a view to theorizing the marketing challenges which Third World countries wishing to embark on the same exercise should watch out for. The research used secondary data sources to expose the status of marketing in the pre-consolidation era and goes further to put forward the marketing implications and challenges of the exercise. Delivery of quality services, repositioning of brand identi...

  9. Bank Consolidation in Nigeria: Marketing Implications and Challenges for the Surviving Banks

    Directory of Open Access Journals (Sweden)

    IE Ernest

    2012-01-01

    Full Text Available The purpose of this paper is to explore the marketing implications of the Nigerian bank consolidation with a view to theorizing the marketing challenges which Third World countries wishing to embark on the same exercise should watch out for. The research used secondary data sources to expose the status of marketing in the pre-consolidation era and goes further to put forward the marketing implications and challenges of the exercise. Delivery of quality services, repositioning of brand identities and branch expansion were found as the leading challenges of the Nigerian bank consolidation. Other Third World economies wishing to undertake bank consolidation was advised to consider certain structural variables evident in their countries before embarking on such reforms.

  10. Alternative banking: theory and evidence from Europe

    Directory of Open Access Journals (Sweden)

    Kurt Von Mettenheim

    2012-12-01

    Full Text Available Since financial liberalization in the 1980s, non-profit maximizing, stakeholder-oriented banks have outperformed private banks in Europe. This article draws on empirical research, banking theory and theories of the firm to explain this apparent anomaly for neo-liberal policy and contemporary market-based banking theory. The realization of competitive advantages by alternative banks (savings banks, cooperative banks and development banks has significant implications for conceptions of bank change, regulation and political economy.

  11. The National Bank of Romania monetary policy characteristics in addition to the current financial crisis

    Directory of Open Access Journals (Sweden)

    Stefan Sambotin

    2012-12-01

    Full Text Available Considering the starting point for research the Central Bank key role in economic life, through the implementation of the monetary policy, by exercising prudential control and supervision of commercial banks, the present paper proposes an analysis of the National Bank of Romania monetary policy coordinates in the frame of the increased intensification harsh effects of the global economic crisis.

  12. Central Banking: Between Monetary Policy and Global Crisis

    Directory of Open Access Journals (Sweden)

    Mariana Trandafir

    2011-10-01

    Full Text Available The central banks have been at the heart of the recent global financial crisis and they are facing unprecedented challenges: ensuring monetary stability in a period of deep financial turmoil, which seems to require a rethinking of the theoretical precepts andthe international monetary practice. This study is a survey on the evolution of the central bank, in terms of functions performed throughout its history, in the context of the dominant paradigm of each stage of society’s evolution. The work caries out an empirical research of monetary policy impact regarding the stability of prices on the evolution of inflation over the last fifty years, since the great inflation to the current global crisis. The paradigm dedicated to monetary policy, focused on the price stability as a priority objective, seems unable to resist the crisis. Although there is an agreement on maintaining price stability as a priority objective of the central banks, most researchers and practitioners believe that the financial stability is as important for the monetary authorities.

  13. Policy implications for familial searching

    Directory of Open Access Journals (Sweden)

    Kim Joyce

    2011-11-01

    Full Text Available Abstract In the United States, several states have made policy decisions regarding whether and how to use familial searching of the Combined DNA Index System (CODIS database in criminal investigations. Familial searching pushes DNA typing beyond merely identifying individuals to detecting genetic relatedness, an application previously reserved for missing persons identifications and custody battles. The intentional search of CODIS for partial matches to an item of evidence offers law enforcement agencies a powerful tool for developing investigative leads, apprehending criminals, revitalizing cold cases and exonerating wrongfully convicted individuals. As familial searching involves a range of logistical, social, ethical and legal considerations, states are now grappling with policy options for implementing familial searching to balance crime fighting with its potential impact on society. When developing policies for familial searching, legislators should take into account the impact of familial searching on select populations and the need to minimize personal intrusion on relatives of individuals in the DNA database. This review describes the approaches used to narrow a suspect pool from a partial match search of CODIS and summarizes the economic, ethical, logistical and political challenges of implementing familial searching. We examine particular US state policies and the policy options adopted to address these issues. The aim of this review is to provide objective background information on the controversial approach of familial searching to inform policy decisions in this area. Herein we highlight key policy options and recommendations regarding effective utilization of familial searching that minimize harm to and afford maximum protection of US citizens.

  14. The Role of Monetary Policy Announcements on Turkish Banks' Stock Returns

    Directory of Open Access Journals (Sweden)

    Nida Abdioğlu

    2016-02-01

    Full Text Available This paper investigates the impact of monetary policy committee decisions of the Central Bank of the Republic of Turkey on the stock returns of the deposit banks listed in Borsa Istanbul Banks Index (XBANK. The cumulative abnormal returns of the banks are calculated for 2008 and 2012. We report that the monetary policy announcements affect cumulative abnormal returns of the deposits banks both in 2008 and 2012. Since the announcement of the monetary policy decisions created abnormal returns, we conclude that the market does not have semi-strong form efficiency.

  15. Monetary Policy Implementation and Liquidity Management of the Czech Banking System

    OpenAIRE

    Brůna, Karel

    2010-01-01

    Implementation of monetary policy assumes that monetary policy instruments stabilize O/N interest rates to the proximity of main policy rate to archive monetary targets. The function of stabilizing mechanism is based on simple rule that the volume of liquidity in the banking system is held in line with the demand of banks for reserves. In this paper main factors of banking system liquidity are analyzed in the context of bank’s imperfect intertemporal substitution of reserves and with respect ...

  16. The World Bank Policy for Projects on International Waterways : An Historical and Legal Analysis

    OpenAIRE

    Salman M.A. Salman

    2009-01-01

    This study deals with the evolution and context of the Bank policy for projects on international waterways. It starts with a brief description of how the Bank has faced the challenges stemming from such projects, and the different approaches deliberated by the Bank that led to the issuance of the first policy in 1956. The study then reviews the implementation experience of the policy and a...

  17. Economic and policy implications of pandemic influenza.

    Energy Technology Data Exchange (ETDEWEB)

    Smith, Braeton J.; Starks, Shirley J.; Loose, Verne W.; Brown, Theresa Jean; Warren, Drake E.; Vargas, Vanessa N.

    2010-03-01

    Pandemic influenza has become a serious global health concern; in response, governments around the world have allocated increasing funds to containment of public health threats from this disease. Pandemic influenza is also recognized to have serious economic implications, causing illness and absence that reduces worker productivity and economic output and, through mortality, robs nations of their most valuable assets - human resources. This paper reports two studies that investigate both the short- and long-term economic implications of a pandemic flu outbreak. Policy makers can use the growing number of economic impact estimates to decide how much to spend to combat the pandemic influenza outbreaks. Experts recognize that pandemic influenza has serious global economic implications. The illness causes absenteeism, reduced worker productivity, and therefore reduced economic output. This, combined with the associated mortality rate, robs nations of valuable human resources. Policy makers can use economic impact estimates to decide how much to spend to combat the pandemic influenza outbreaks. In this paper economists examine two studies which investigate both the short- and long-term economic implications of a pandemic influenza outbreak. Resulting policy implications are also discussed. The research uses the Regional Economic Modeling, Inc. (REMI) Policy Insight + Model. This model provides a dynamic, regional, North America Industrial Classification System (NAICS) industry-structured framework for forecasting. It is supported by a population dynamics model that is well-adapted to investigating macro-economic implications of pandemic influenza, including possible demand side effects. The studies reported in this paper exercise all of these capabilities.

  18. Policy and Economics of Managed Aquifer Recharge and Water Banking

    Directory of Open Access Journals (Sweden)

    Sharon B. Megdal

    2015-02-01

    Full Text Available Managed Aquifer Recharge (MAR and water banking are of increasing importance to water resources management. MAR can be used to buffer against drought and changing or variable climate, as well as provide water to meet demand growth, by making use of excess surface water supplies and recycled waters. Along with hydrologic and geologic considerations, economic and policy analyses are essential to a complete analysis of MAR and water banking opportunities. The papers included in this Special Issue fill a gap in the literature by revealing the range of economic and policy considerations relevant to the development and implementation of MAR programs. They illustrate novel techniques that can be used to select MAR locations and the importance and economic viability of MAR in semi-arid to arid environments. The studies explain how MAR can be utilized to meet municipal and agricultural water demands in water-scarce regions, as well as assist in the reuse of wastewater. Some papers demonstrate how stakeholder engagement, ranging from consideration of alternatives to monitoring, and multi-disciplinary analyses to support decision-making are of high value to development and implementation of MAR programs. The approaches discussed in this collection of papers, along with the complementary and necessary hydrologic and geologic analyses, provide important inputs to water resource managers.

  19. Monetary policy change of the Central bank of Poland

    Directory of Open Access Journals (Sweden)

    Kraś Ireneusz

    2015-07-01

    Full Text Available The National Bank of Poland is an institution which, in conjunction with the government is responsible for the implementation of country’s economic policy reinforces its democratic character. Provisions of its operation are governed by the Constitution of The Republic of Poland and by the Act on the National Bank of Poland. To this end, the objective of the present research is to analyse the proposed amendments in the Act on the NBP. The latter concerns the amendment procedures, term of office and the rotations and numbers of Monetary Policy Council. The remaining part of the analyses is dedicated to the issue of dismissal of a MPC’s member in conjunction with the prohibition of occupying other positions, the adoption of the NBP’s financial statements and the separation of instruments of monetary policy’s instruments for stability of domestic financial system. Introduced changes in the proposed draft reduce the independence of the NBP while making it more subject to the Cabinet. Following the result of further consultations on the draft of Act on the NBP, provisions which reduce the independence of the NBP shall be partially removed.

  20. Policy implications for familial searching

    OpenAIRE

    Kim Joyce; Mammo Danny; Siegel Marni B; Katsanis Sara H

    2011-01-01

    Abstract In the United States, several states have made policy decisions regarding whether and how to use familial searching of the Combined DNA Index System (CODIS) database in criminal investigations. Familial searching pushes DNA typing beyond merely identifying individuals to detecting genetic relatedness, an application previously reserved for missing persons identifications and custody battles. The intentional search of CODIS for partial matches to an item of evidence offers law enforce...

  1. 12 CFR Appendix C to Part 225 - Small Bank Holding Company Policy Statement

    Science.gov (United States)

    2010-01-01

    ... provided they comply with the requirements set forth above. 3. Core Requirements for All Applicants In... strain on the resources of the bank(s), and the record and competency of management. In addition, the... policy statement, the bank holding company meets the core requirements for all applicants noted...

  2. The Formation of New Monetary Policies: Decisions of Central Banks on the Great Recession

    Directory of Open Access Journals (Sweden)

    Ana Esther Castro

    2014-05-01

    Full Text Available The effect that the Great Recession had on monetary policies has led to the profound reorientation of central banks’ actions from 2007 to 2013. The purpose of this work is to analyze the monetary policies applied by the main central banks, mainly the European Central Bank, the Federal Reserve System of USA and the Bank of Japan, in order to raise thoughts on the guidelines that central banks should follow in the future. In the first section the bases of monetary policy before the crisis are described; in the second we explain the change in the orientation of the role of central banks during the crisis; and finally, we synthesize the bases on which the economic debate is taking place on the orientation of future monetary policies. We conclude that, in so far as the inoperativeness of transmission mechanisms still persists, monetary policies will remain in a process of change.

  3. The role of banks in the Czech monetary policy transmission mechanism

    OpenAIRE

    Pruteanu, Anca

    2004-01-01

    Objective of this work is to enrich the knowledge about the monetary policy transmission mechanism in the Czech Republic with empirical evidence on the impact of monetary policy on bank lending. Using a panel of quarterly time series for Czech commercial banks for the period 1996–2001, it studies the overall effect of monetary policy changes on the growth rate of loans and the characteristics of the supply of loans.

  4. Affiliates’ Bank Debt Policy: Does Parent Firm Nationality Matter?

    OpenAIRE

    Locorotondo, Rosy; Dewaelheyns, Nico; Van Hulle, Cynthia

    2015-01-01

    This paper examines whether and how bank debt is affected by foreign group affiliation. Ceteris paribus, affiliates of foreign business groups only use about half as much bank debt as compared to affiliates of domestic groups. Further, the results indicate that geographical and cultural distance between parent and affiliate countries raise barriers when accessing bank financing. The bank debt usage decreases even further, if affiliates and parent firms depend on different legal systems or the...

  5. Banking Structure and Monetary Policy: New Wine in Old Bottles.

    Science.gov (United States)

    Hacche, John

    1989-01-01

    Provides an extension of the basic banking model used in introductory economics courses. This expanded model introduces the concept of banking capital and reserves, and includes the relationship existing between current issues and banking structure and money supply growth. Provides worksheet exercises and answers. (LS)

  6. Income inequality: Implications and relevant economic policies

    Directory of Open Access Journals (Sweden)

    Arestis Philip

    2016-01-01

    Full Text Available The aim of this contribution is to discuss closely the implications of income inequality and the economic policies to tackle it, especially so in view of inequality being one of the main causes of the 2007/2008 international financial crisis and the “great recession” that subsequently emerged. Wealth inequality is also important in this respect, but the focus is on income inequality. Ever since the financial crisis and the subsequent “great recession”, inequality of income, and wealth, has increased and the demand for economic policy initiatives to produce a more equal distribution of income and wealth has become more urgent. Such reduction would help to increase the level of economic activity as has been demonstrated again more recently. A number of economic policy initiatives for this purpose will be the focus of this contribution.

  7. Monetary policy and banking supervision: still at arm's length? A comparative analysis

    Directory of Open Access Journals (Sweden)

    Donato Masciandaro

    2012-12-01

    Full Text Available By the early 2000s an increasing number of countries had adopted a well-defined central bank framework, characterized by two intertwined features: stronger specialization for the banking authority in achieving monetary policy goals, and a lessening of its traditional responsibilities for the safeguard of financial stability within its institutional perimeter. The fundamental effect was that Central Bank Involvement in Supervision (CBIS generally decreased. But then, after the Financial Crisis erupted in 2008, reforms have been undertaken and projects are being discussed to reconsider the role of the central bank in the field of supervisory tasks. The main research question is then: how is CBIS moving? This article offers two contributions. Firstly, the economics of the relationship between central banking, monetary policy and banking supervision is reviewed. Secondly, the current situation of CBIS in 88 countries around the world is analyzed.

  8. BASEL III - ISSUES AND IMPLICATIONS FOR THE ROMANIAN BANKING SYSTEM

    OpenAIRE

    Daniela Dandara

    2013-01-01

    Basel III is the result of the continuous effort made by the Basel Committee on Banking Supervision to enhance the banking regulatory framework. It seeks to improve the banking sector's ability to deal with financial and economic stress, improve risk management and strengthen the banks' transparency. The purpose of this paper is to identify possible outcomes of implementing Basel III on the Romanian banking system, given the current position of the key financial ratios. Although the impact is...

  9. The Implementation of Monetary Policy in China: The Interbank Market and Bank Lending

    OpenAIRE

    Hongyi Chen; Qianying Chen; Stefan Gerlach

    2011-01-01

    We analyze the impact of monetary policy instruments on interbank lending rates and retail bank lending in China using an extended version of the model of Porter and Xu (2009). Unlike the central banks of advanced economies, the People's Bank of China uses changes in the required reserve ratios and open market operations to influence liquidity in money markets and adjusts the regulated deposit and lending rates and loan targets to intervene in the retail deposit and lending market. These inte...

  10. Product Market Competition, Regulation and Dividend Payout Policy of Malaysian Banks

    OpenAIRE

    Ameer, Rashid

    2007-01-01

    This paper investigates the impact of the product market competition, regulations on the dividend policies of We find significant differences in the payout of the banks categorized as selling a non-interest based banking products and mix of both interest and non-interest based banking products. We find that the decision to increase dividends is significantly related to earnings, and the decision to cut dividend is significantly related to the changes in the non-performing loans, corporate...

  11. CEO Inside Debt Holdings and Risk-shifting: Evidence from Bank Payout Policies

    OpenAIRE

    Srivastav, Abhishek; Armitage, Seth; Hagendorff, Jens

    2014-01-01

    Bank payouts divert cash to shareholders, while leaving behind riskier and less liquid assets to repay debt holders in the future. Bank payouts, therefore, constitute a type of risk-shifting that benefits equity holders at the expense of debt holders. In this paper, we provide insights on how CEO incentives stemming from inside debt (primarily defined benefit pensions and deferred compensation) impact bank payout policy in a manner that protects debt holder interests. We show that CEOs with h...

  12. Macroprudential Policy, Countercyclical Bank Capital Buffers and Credit Supply: Evidence from the Spanish Dynamic Provisioning Experiments

    OpenAIRE

    Jiménez, G.; Ongena, S.; Peydro, J.L.; Saurina, J.

    2012-01-01

    Abstract: We analyze the impact of the countercyclical capital buffers held by banks on the supply of credit to firms and their subsequent performance. Countercyclical ‘dynamic’ provisioning that is unrelated to specific loan losses was introduced in Spain in 2000, and modified in 2005 and 2008. These policy experiments which entailed bank-specific shocks to capital buffers, combined with the financial crisis that shocked banks according to their available pre-crisis buffers, underpin our ide...

  13. THE CRUCIAL ROLE OF CENTRAL BANK TRANSPARENCY IN ASSESSING THE MONETARY POLICY COMMITTEE MECHANISM

    Directory of Open Access Journals (Sweden)

    Dumiter Florin Cornel

    2012-12-01

    Full Text Available In the past, central banks used to be very reserved regarding their activities, strategies and monetary policy decisions and actions. As central banks become more and more independent, transparency gained importance based upon accountability arguments. An important fact for adopting an increasing central bank transparency lies in its importance of influencing the development of expectations. The concept of central bank transparency has emerged in the economic literature relatively later than some other key concepts. The widespread agreement of an inflation targeting regime and a more transparent central bank is desired by the most central banks around the world in the context of the need of the public disclosure of macroeconomic models, the quarterly time series for indicators like: inflation, output, budgetary deficit, public debt, interest rate, inflation expectations, the public announcement of the monetary policy decisions, objectives and targets, the publication of some key monetary tools like: inflation report, financial stability report, monetary policy committee report, annual report. These are all key issues in the construction of a more transparent and independent central bank in the context of a good global governance. Moreover, for the fruitful success of the central bank, latum sensu, and monetary policy, stricto sensu, it must be encompassed a complex monetary policy committee mechanism. This complex mechanism must by edowed with the collegial approach of the monetary policy committee, structure of the voting mechanism within the committee, the importance of the person which announces the changes within the interest rates and the public disclosure of these information’s enriched in a communication strategy. This communication strategy is very important for assessing and public understanding of the central bank’s actions but also for communicating the objectives, targets and forward looking approaches of the monetary

  14. Bank lending channel of monetary policy: dynamic panel data evidence from Malaysia

    OpenAIRE

    Abdul Karim, Zulkefly; Wan Ngah, Wan Azman Saini; Abdul Karim, Bakri

    2010-01-01

    This paper aims to investigate the relevance of bank-lending channel (BLC) of monetary policy in a small-open economy, i.e. Malaysia by using disaggregated bank-level data set. A dynamic panel data method namely GMM framework proposed by Arellano and Bond (1991), Arellano and Bover (1995), and Blundell and Bond (1998) have been used in estimating the dynamic of banks’ loan supply function. The empirical evidence has stated that monetary policy shocks is significantly and negatively influenced...

  15. Credit Supply and Monetary Policy: Identifying the Bank Balance-Sheet Channel with Loan Applications

    OpenAIRE

    Gabriel Jimenez; Steven Ongena; Jose-Luis Peydro; Jesus Saurina

    2012-01-01

    We analyze the impact of monetary policy on the supply of bank credit. Monetary policy affects both loan supply and demand, thus making identification a steep challenge. We therefore analyze a novel, supervisory dataset with loan applications from Spain. Accounting for time-varying firm heterogeneity in loan demand, we find that tighter monetary and worse economic conditions substantially reduce loan granting, especially from banks with lower capital or liquidity ratios; responding to applica...

  16. World Bank Education Policy: Do the Neoliberal Critiques Still Apply?

    Science.gov (United States)

    Oise, Francine Menashy

    2007-01-01

    Throughout much of the 1990s, the overriding critique of the World Bank was placed on its neoliberal mandate, reflected in its various education measures. However, recently the Bank seems to have taken a notable shift away from this ideological stance in its rhetoric and initiatives. This paper attempts to ascertain the degree to which the…

  17. Policy Risk of Current Bank Bailouts in China

    Institute of Scientific and Technical Information of China (English)

    XianxinZhao

    2004-01-01

    China's banking risk is mainly driven by "moral hazard", the inherent deficiency of state ownership. The ongoing reform strategy for state-owned banks, adopted by the government, mainly aims at this target, but fails to take a correct path. Since the government still holds the controlling right of the banks, there is no evidence to show that recapitalization and initial public offering (IPO) will lead to sound practices for banking governance. Furthermore, in order to accelerate the recapitalization process, the reformers have injected a large amount of foreign exchange reserves into the state-owned banks, which consequently expands money supply and will lead to instability of future economic growth. Our conclusion is that there is a latent banking risk. China's banking reform should be in line with the external environment and the overall economic reform process, and the reformers should always keep in mind that sustainability of future economic growth is the ultimate means by which banking risk can be cushioned and absorbed.

  18. 12 CFR 225.175 - What risk management, record keeping and reporting policies are required to make merchant banking...

    Science.gov (United States)

    2010-01-01

    ... risk management, record keeping and reporting policies are required to make merchant banking... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What risk management, record keeping and... subpart must establish and maintain policies, procedures, records and systems reasonably designed...

  19. 12 CFR 1500.6 - What risk management, record keeping and reporting policies are required to make merchant banking...

    Science.gov (United States)

    2010-01-01

    ... management, record keeping and reporting policies are required to make merchant banking investments? (a) What... 12 Banks and Banking 7 2010-01-01 2010-01-01 false What risk management, record keeping and... establish and maintain policies, procedures, records and systems reasonably designed to conduct, monitor...

  20. Monetary Policy Transmission in Vector Autoregressions: A New Approach Using Central Bank Communication

    OpenAIRE

    Neuenkirch, Matthias

    2011-01-01

    In this paper, we study the role played by central bank communication in monetary policy transmission. We employ the Swiss Economic Institute’s Monetary Policy Communicator to measure the future stance of the European Central Bank’s monetary policy. Our results indicate, first, that communication has an influence on inflation (expectations) similar to that of actual target rate changes. Communication also plays a noticeable role in the transmission of monetary policy to output. Consequently, ...

  1. Consumer Loans in Cambodia: Implications on Banking Stability

    OpenAIRE

    MENG, Channarith

    2014-01-01

    This paper analyzes the fast development of consumer loans including housing loans in Cambodia to check whether or not such a development posts any stability risk to banking system in Cambodia. Using stress-testing method, the paper finds that current level of consumer loans provided by banks does yet creates a big threat to the banking stability in Cambodia. Rather, the surge reflects consequences of positive development in the banking system and economy as a whole, including the rise of mid...

  2. Implications of e-commerce for banking and finance

    NARCIS (Netherlands)

    Heng, Michael S.H.

    2001-01-01

    The aim of the paper is to show that e-commerce holds the potential totransform banking and financial systems. There are three aspects in which e-commercecan affect banking and finance. First, banks and financial firms can use thetechnology and business practice of e-commerce to market their product

  3. The impact of monetary policy on bank lending rate in South Africa

    Directory of Open Access Journals (Sweden)

    B.T. Matemilola

    2015-03-01

    Full Text Available The pass-through of the policy rates to bank lending rate is an important subject matter because it measures the effectiveness of monetary policy to control inflation or stabilize the economy. This study investigates the long-run interest rate pass-through of the money market rate to the bank lending rate and asymmetric adjustment of the bank lending rate. The study applies the momentum threshold autoregressive and asymmetric error correction models. The asymmetric error correction results reveal that bank lending rate adjusts to a decrease in the money market rate in South Africa. The findings suggest that the South African commercial banks adjust their lending rate downward but the lending rate appears rigid upward, which supports the customer reaction hypothesis.

  4. Central Bank forecasts and disclosure policy: Why it pays to be optimistic

    NARCIS (Netherlands)

    S.C.W. Eijffinger (Sylvester); M.F. Tesfaselassie (Mewael)

    2007-01-01

    textabstractIn a model with forward-looking behavior, we study disclosure policy when a central bank has private information on the future state of the economy. We find that the effects of advance disclosure depend on the presence of uncertainty about policy targets when the shock occurs. With uncer

  5. Monetary policy rules of the National Bank of Kazakhstan (in Russian)

    OpenAIRE

    Bulat Mukhamediyev

    2007-01-01

    The issue of monetary policy rules in Kazakhstan is studied. It is established that at each stage of economic development the National Bank used a certain rule. In particular, it is revealed that during the post-crisis period after reaching macroeconomic stability the short term interest rate, rather than the monetary base, was used as a monetary policy tool.

  6. Labor Markets in Low and Middle-Income Countries : Trends and Implications for Social Protection and Labor Policies

    OpenAIRE

    Cho, Yoonyoung; Margolis, David N.; Newhouse, David; Robalino, David A.

    2012-01-01

    This paper reviews labor market trends throughout the developing world, identifies issues and policy priorities across groups of countries, and derives implications for the World Bank's new social protection and labor strategy. Five key issues are identified: a high and growing share of the labor force that is self?employed or working in household enterprises, exposure to income shocks wit...

  7. Interest Rate Policy Of Selected Central Banks In Central And Eastern Europe

    Directory of Open Access Journals (Sweden)

    GRABIA TOMASZ

    2015-03-01

    Full Text Available The aim of this article is to present and evaluate interest rate policies of three selected central banks in Central and Eastern Europe (Poland, the Czech Republic, and Hungary from 2001 to 2013. The study consists of an introduction (Section 1 and three main parts. The introduction contains a theoretical description of the role of interest rate policy, the dilemmas connected with it, as well as an analysis of the strategies and goals of monetary policies of the National Bank of Poland (NBP, the Czech National Bank (CzNB, and the National Bank of Hungary (NBH in the context of existing legal and institutional conditions. In turn, the first empirical part (Section 2 examines how the analysed central banks responded to changes in inflation, unemployment, and economic growth rates. The tools of the analysis are the nominal and real interest rates of those banks. The subsequent research part (Section 3 attempts to evaluate the degree of the contractionary nature of interest rate policies in specific countries in the context of the Taylor rule. The text ends with a summary (Section 4 encompassing concise conclusions drawn from the earlier analyses.

  8. Federal Home Loan Bank mortgage purchases: Implications for mortgage markets

    OpenAIRE

    W. Scott Frame

    2003-01-01

    The Federal Home Loan Bank (FHLB) System is a government-sponsored enterprise created by Congress to support residential housing finance. Historically, the twelve regional wholesale banks that constitute the FHLB System have pursued this goal by making loans to their depository institution members secured by residential mortgage loans. In 1997, however, the Federal Home Loan Bank of Chicago began purchasing pools of conforming mortgages under its Mortgage Partnership Finance Program. Today, n...

  9. The monetary policy of the European Central Bank in modern conditions

    Directory of Open Access Journals (Sweden)

    Kavitskaya Irina, L.

    2015-12-01

    Full Text Available The paper presents the monetary policy analysis of the European Central Bank (ECB under the present crisis conditions. The paper systematizes the ECB monetary policy in today's crisis and researches it at different stages of the crisis. A detailed analysis showed that the ECB's monetary policy is significantly different from the actions of other central banks during the current crisis (for example, the Federal Reserve. Thus, the ECB unconventional monetary policy combined with traditional measures, but does not replace them. Often ECB use credit easing instead of quantitative easing. The ECB's monetary policy used not only to combat the financial crisis, such as the Fed, but also to deal with the debt crisis. These features of the ECB’s monetary policy were due to both the institutional characteristics of the European Union, as well as special conditions of flow of the financial crisis in the euro zone.

  10. Implications of e-commerce for banking and finance

    OpenAIRE

    Heng, Michael S.H.

    2001-01-01

    The aim of the paper is to show that e-commerce holds the potential to transform banking and financial systems. There are three aspects in which e-commerce can affect banking and finance. First, banks and financial firms can use the technology and business practice of e-commerce to market their products to the customers. Second, e-commerce provides a business opportunity for banks to offer new products and services to serve the needs of e-commerce. Third, the new business environment associat...

  11. Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far

    OpenAIRE

    Kotaro Ishi; Kenji Fujita; Mark R. Stone

    2011-01-01

    What is the case for adding the unconventional balance sheet policies used by major central banks since 2007 to the standard policy toolkit? The record so far suggests that the new liquidity providing policies in support of financial stability generally warrant inclusion. As the balance sheet policies aimed at macroeconomic stability were used only by a small number of highly credible central banks facing a lower bound constraint on conventional interest rate policy, they are not relevant for...

  12. Main determinants of efficiency and implications on banking concentration in the European Union

    Directory of Open Access Journals (Sweden)

    Rafael Bautista Mesa

    2014-01-01

    Full Text Available This study aims to measure the main determinants influencing bank efficiency. We suggest that the bank efficiency ratio, obtained from the income statement, is positively related to the size of a bank in terms of total assets. However, we believe that such a relationship cannot be maintained for banks over a certain size. By the use of the regression analysis method, we analyze the link between bank efficiency and bank size, using a sample of 3952 banks in the European Union. Our results show that the efficiency ratio stops improving for banks with total assets over $25 billion. Previous literature, using different analysis techniques, does not reach an agreement on this point. Furthermore, our study identifies further variables which negatively affect the efficiency of banks, such as competition and lending diversification, or affect them positively, such as the wholesale funding ratio and income diversification. Our findings imply the need for different bank policies depending on total assets, in order to limit the size and activities of banks.

  13. The impact of foreign banks on monetary policy transmission during the global financial crisis of 2008-2009: Evidence from Korea

    OpenAIRE

    Jeon, Bang Nam; Lim, Hosung; Wu, Ji

    2014-01-01

    This paper examines the impact of foreign banks on the monetary policy transmission mechanism in the Korean economy during the period from 2000 to 2012, with a specific focus on the lending behavior of banks with different types of ownership. Using the bank-level panel data of the banking system in Korea, we present consistent evidence on the buffering impact of foreign banks, especially foreign bank branches including U.S. bank branches, on the effectiveness of the monetary policy transmissi...

  14. Definitions of fuel poverty: Implications for policy

    International Nuclear Information System (INIS)

    This paper outlines why the definition of fuel poverty is important in policy formulation and describes how the Government's current definitions evolved from the original concept. It discusses the determination of income and fuel costs and the possibilities for a relative and common European measure. It examines problems inherent in assessing fuel costs as a percentage of income and puts forward the arguments for a ‘budget standard’ approach. The paper illustrates how the size of the problem depends on the definition and chosen threshold and suggests advantages for a rating scale. It illustrates how the income composition and thresholds also govern the distribution of the target populations and the relative importance of the main causal factors, and examines the consequent policy implications. It explores the definition of vulnerable households and the importance of severity and questions whether the UK fuel poverty strategy is targeted at households least able to afford their fuel costs (as the name implies) or primarily those at risk from excess winter and summer mortality and morbidity. Finally, after examining the role of supplementary indicators, it looks at the opportunities for changing the definition and comments on the Government review of the definition and targets. - Highlights: ► There are major failings in the existing official definitions of fuel poverty. ► expressing fuel costs as a percentage of income is a poor indicator of fuel poverty. ► A budget standard approach provides a more consistent, meaningful and fairer measure. ► The scale and nature of the problem changes dramatically with different definitions. ► The definition is crucial to the mix of policies and allocation of resources required.

  15. Policy implications of technologies for cognitive enhancement

    Energy Technology Data Exchange (ETDEWEB)

    Sarewitz, Daniel R. (Arizona State University, Tempe, AZ); Karas, Thomas H.

    2007-02-01

    The Advanced Concepts Group at Sandia National Laboratory and the Consortium for Science, Policy and Outcomes at Arizona State University convened a workshop in May 2006 to explore the potential policy implications of technologies that might enhance human cognitive abilities. The group's deliberations sought to identify core values and concerns raised by the prospect of cognitive enhancement. The workshop focused on the policy implications of various prospective cognitive enhancements and on the technologies/nanotechnology, biotechnology, information technology, and cognitive science--that enable them. The prospect of rapidly emerging technological capabilities to enhance human cognition makes urgent a daunting array of questions, tensions, ambitions, and concerns. The workshop elicited dilemmas and concerns in ten overlapping areas: science and democracy; equity and justice; freedom and control; intergenerational issues; ethics and competition; individual and community rights; speed and deliberations; ethical uncertainty; humanness; and sociocultural risk. We identified four different perspectives to encompass the diverse issues related to emergence of cognitive enhancement technologies: (1) Laissez-faire--emphasizes freedom of individuals to seek and employ enhancement technologies based on their own judgment; (2) Managed technological optimism--believes that while these technologies promise great benefits, such benefits cannot emerge without an active government role; (3) Managed technological skepticism--views that the quality of life arises more out of society's institutions than its technologies; and (4) Human Essentialism--starts with the notion of a human essence (whether God-given or evolutionary in origin) that should not be modified. While the perspectives differ significantly about both human nature and the role of government, each encompasses a belief in the value of transparency and reliable information that can allow public discussion and

  16. Monetary and fiscal policy interactions with central bank transparency and public investment

    OpenAIRE

    Dai, Meixing; Sidiropoulos, Moïse

    2010-01-01

    In this paper, we study how the interactions between central bank transparency and fiscal policy affect macroeconomic performance and volatility, in a framework where productivity-enhancing public investment could improve future growth potential. We analyze the effects of central bank’s opacity (lack of transparency) according to the marginal effect of public investment by considering the Stackelberg equilibrium where the government is the first mover and the central bank the follower. We sho...

  17. Does one word fit all? The asymmetric effects of central banks' communication policy

    OpenAIRE

    Bennani, Hamza

    2014-01-01

    This paper provides an extension of Morris and Shin's (2002) model (Morris, S., Shin, H. S. (2002). Social value of public information. The American Economic Review, 92(5), 1521-1534.). It considers an "interpretation bias" of the public signal sent by central banks such as the ECB or the FED. It is shown that such a bias is detrimental and should be considered when central banks implement their communication policy.

  18. Evaluating the Impacts of Competition Policy Reforms on the Efficiency of Philippine Commercial Banks

    OpenAIRE

    Manlagñit, Ma. Chelo V.; Lamberte, Mario B.

    2004-01-01

    This paper has attempted to examine the impacts of competition policy reforms on the efficiency of the Philippine commercial banking system. It uses the stochastic frontier approach to come up with estimates of profit efficiency and cost inefficiency measures. The results are quite interesting. First, the average measured profit efficiency is 0.85, implying that on the average the commercial banks are using only 85 percent of their resources efficiently compared to the best practice commercia...

  19. Techniques and Management Policies Used by Romanian Banks in Transylvania:A Case Study of

    OpenAIRE

    Gavrila Pavel Radu

    2012-01-01

    To thrive, the Romanian peasant needed primarily to obtain credit, especially credit on favorable terms. Romanians from Transylvanian adopted a prudent policy, but one that defended their economic interests.Romanian credit institutions from Transylvanian were formed and evolved in a complex financial framework. In economy of Solnoc-Dăbâca County banks were growth poles.The most representative Romanian Bank, which polarizes a lot of requests for loans from Romanian peasants, was \\"Someşana\\". ...

  20. Rhetoric and Reality: World Bank and CIDA Gender Policies

    Science.gov (United States)

    Hales, Jennifer

    2007-01-01

    The picture the World Bank paints of the world is an optimistic one: living standards are higher than ever before, humanity is progressing, and situations for women are improving. If this is really the case, why then does "the impoverishment of hundreds of millions of people" throughout the world continue? (Chossudovsky 1997, 33). Why do "the…

  1. Negative Impacts of the Neo-liberal Policies on the Banking Sector in Bulgaria

    Directory of Open Access Journals (Sweden)

    Rossitsa Rangelova Pavlova

    2015-04-01

    Full Text Available From the beginning of the 1970s until the last global financial and economic crisis in 2008-2009, neo-liberal ideas guided economic policy development. It is worth noting that the Central and Eastern European countries transformed their economies from centrally planned to а market type at the peak of the liberal policies. Bulgaria offers a particularly interesting example because the country encountered a very difficult transition from one extreme of an economic system organization to another. The paper considers the reforms in the Bulgarian banking sector during the transition period from a centrally planned to a market type economy (from 1989 onward through the implementation of neo-liberal policies. The development of the banking sector and its transformation is analyzed throughout the two main periods: before and after the transition. The latter is divided into two sub-periods (phases beginning with the early 1990s, followed by the financial and bank crisis in the country, the introduction of a currency board regime in 1997, and stabilization, and ending with the global crisis in 2008-2009. This article summarizes that during the transition period, a modern banking system was established to accumulate profit rather than to promote economic growth. Following a chronological order, the negative effects of the liberalization of the Bulgarian banking sector are specified: the exportation of ownership (and control upon banking system assets, unfair asset redistribution, the emergence of the local oligarchy, the weak protection of the taxpayers and others.

  2. Testing the Nonlinearity of the Phillips Curve. Implications for Monetary Policy

    Directory of Open Access Journals (Sweden)

    Georgiana BALABAN

    2010-04-01

    Full Text Available This paper studies the nonlinearity of the Phillips Curve and its implications for monetary policy. To investigate the trade-off between output gap and inflation volatility we used a backward-looking model type. The data for our empirical analysis is obtained from the Area Wide Model (AWM Database (from 1970 to 2008 for Euro area and National Institute of Statistics (from 2000 to 2009 for Romania and has quarterly frequency. The results of econometric tests indicate a significant estimated coefficient of the output gap for Romania, compared with the Eurozone; we find no significant evidence of nonlinearity of the Phillips curve in the European Monetary Union. This suggests that the optimal choice for European Central Bank should be a fixed inflation targeting, while the National Bank of Romania's monetary policy strategy should aim a flexible inflation targeting.

  3. Reference drug programs: effectiveness and policy implications.

    Science.gov (United States)

    Schneeweiss, Sebastian

    2007-04-01

    them. This paper summarizes the mechanism and rationale of RDPs, presents evidence of their economic effectiveness and clinical safety, and concludes with some practical implications of implementing RDP policies.

  4. A Practical Toolkit for Banks. Towards an Effective Climate Policy

    International Nuclear Information System (INIS)

    This report investigates the shareholder voting of equity funds of the three major Dutch banks and of the asset managers of three Dutch pension funds. Specifically, it concerns voting on shareholder resolutions on climate change. The scope of the research includes 48 shareholder resolutions from the period 2006 until summer 2008 and concerning 28 U.S. and two Japanese companies. In these resolutions shareholders call on the companies to report on their carbon emissions, take climate-related measures, or to invest more in renewable energy. Practically every Dutch bank and pension fund publicly claims to be very concerned about climate change, and they report to varying extent on their efforts in this regard. However, in practice equity funds and asset managers frequently vote against climate resolutions or refrain from using their voting rights altogether

  5. Bank strategies in catastrophe settings: empirical evidence and policy suggestions

    OpenAIRE

    Leonardo Becchetti; Stefano Castriota; Pierluigi Conzo

    2012-01-01

    The poor in developing countries are the most exposed to natural catastrophes and microfinance organizations may potentially ease their economic recovery. Yet, no evidence on MFIs strategies after natural disasters exists. We aim to fill this gap by building adataset which merges bank records of loans, issued before and after the 2004 Tsunami by a Sri Lankan MFI recapitalized by Western donors, with detailed survey data on the corresponding borrowers. Evidence of effective post-calamity inter...

  6. 产权、金融稳定政策与中央银行独立性%Property-rights, financial stabilization policies,and central bank independence

    Institute of Scientific and Technical Information of China (English)

    黄少安; 何坤

    2008-01-01

    This paper builds a micro-behavior model of central bank and financial institutions from the perspective of property-rights. By analyzing the theoretical model and the practice, we conclude that, in the framework of the present financial stabilization policies in China, the central bank's functions of monetary policy and financial stabilization are enslaved to financial institutions. Thus,central bank independence has been damaged because of the actual property-right relation between the central bank and the financial institutions. The policy implication is to cut off the property-right relation between the central bank and the financial institutions.%从产权角度出发,建立中央银行和金融机构的微观行为模型,通过分析和考察理论模型和现实情况,认为在中国当前金融稳定政策的框架下,由于中央银行与微观金融机构事实上的产权关系,其货币稳定和金融稳定职能均受制于微观金融机构,独立性受到损害.为了保持中央银行的独立性,必须切断其与微观金融机构的产权关系.

  7. The IMF-World Bank's economic stabilisation and structural adjustment policies and the Uganda economy, 1981-1989

    NARCIS (Netherlands)

    Nabudere, D.W.

    1990-01-01

    This research report traces all the main developments in IMF-World Bank policies in Uganda. Most of the material concerns the three IMF standby arrangements with Uganda for 1981-1984 and the World Bank Group's Structural Adjustment Programmes. These programmes introduced two contradictory policies a

  8. The Evolution of the World Bank's Land Policy: Principles, Experience, and Future Challenges.

    OpenAIRE

    Deininger, Klaus; Binswanger, Hans

    1999-01-01

    This article examines the evolution of policy recommendations concerning rural land issues since the formulation of the World Bank's "Land Reform Policy Paper" in 1975. That paper set out three guiding principles: the desirability of owner-operated family farms; the need for markets to permit land to be transferred to more productive users; and the importance of an egalitarian asset distribution. In the 25 years since that paper was published, these guiding principles have remained the same, ...

  9. Public policy for start-up entrepreneurship with venture capital and bank finance

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    This paper proposes and analyses a model of start-up investment. Innovative entrepreneursare commercially inexperienced and can benefit from venture capital support. Only part ofthem succeed in matching with a venture capitalist while the rest must resort to standard bankfinance. We consider...... a number of policies to promote entrepreneurship and venture capitalbacked innovation.JEL Classification: D82, G24, G28, H24.Keywords: venture capital bank finance, matching, moral hazard, public policy....

  10. Global financial crisis and monetary policies of central banks (examples of chosen countries)

    OpenAIRE

    Fajnor, Tomáš

    2010-01-01

    The purpose of this Master's thesis is divided into two steps. The first step sums up all the relevant theory about financial crises and monetary policies. The second step analyzes not only the past but focuses mainly on the global financial crisis which started in 2007. The cornerstones of this analytical bloc are monetary policies of central banks in China, Venezuela, Denmark and the Czech Republic. Two hypotheses are stated in the beginning of this Master's thesis. These focus on fixed exc...

  11. Financial Markets, Banking and the Design of Monetary Policy: A Stable Baseline Scenario

    Directory of Open Access Journals (Sweden)

    Florian Hartmann

    2013-12-01

    Full Text Available A baseline integration of commercial banks into the disequilibrium framework with behavioral traders of Charpe et al. (2011, 2012 is presented. At the core of the analysis is the impact the banking sector exerts on the interaction of real and financial markets. Potentially destabilizing feedback channels in the presence of imperfect macroeconomic portfolio adjustment and heterogeneous expectations are investigated. Given the possible financial market instability, various policy instruments have to be applied in order to guarantee viable dynamics in the highly interconnected macroeconomy. Among those are open market operations reacting to the state-of-confidence in the economy and Tobin-type capital gain taxes. The need for policy intervention is even more striking, as the banking sector is modeled in a rather stability enhancing way, fulfilling its fundamental tasks of term transformation of savings and credit granting without engaging in investment activities itself.

  12. 76 FR 35959 - Capital Adequacy Guidelines; Small Bank Holding Company Policy Statement: Treatment of...

    Science.gov (United States)

    2011-06-21

    ... CFR Part 225 Capital Adequacy Guidelines; Small Bank Holding Company Policy Statement: Treatment of... Board published a final rule on the capital treatment of the Senior Perpetual Preferred Stock. See 74 FR... capital adequacy guidelines, and the Internal Revenue Code, to institutions that issued Senior...

  13. A Macrocosmic Scheme of Cultural Analysis: Implications for Arts Policy

    Science.gov (United States)

    Kaplan, Max

    1975-01-01

    This essay applied the categories, primitive-feudal, industrial, transitional, and post-industrial, to the analysis of the contemporary cultural sphere, in relation to a specific social-technological phenomenon (leisure), with implications for arts policy. (Author/RK)

  14. Co-benefits of CDM projects and policy implications

    OpenAIRE

    Sun, Qie; Xu, Bo; Wennersten, Ronald; Brandt, Nils

    2010-01-01

    This paper aims to study the co-benefits of clean development mechanism (CDM) projects, and further to discuss the policy of its implications. It has been found that many energy-related climate change mitigation (CCM) activities, including CDM projects, are able to produce a significant amount of co-benefits, while the policy implications have been limited. Through co-benefits assessment of Chinese CDM projects, it can be concluded that: (1) there are uncertainties relating to co-benefits ass...

  15. South African banks and their online privacy policy statements: A content analysis

    Directory of Open Access Journals (Sweden)

    Salah K. Kabanda

    2010-08-01

    Full Text Available In Internet banking and Internet-related transactions, security and privacy are of great concern. To alleviate these concerns, the South African government has promulgated the Electronic Communications and Transactions (ECT Act No. 25 of 2002. The Act regulates all electronic communication transactions in South Africa. Business organisations implement the Act by, for example, posting a privacy policy statement on their websites, which, in accordance with the requirements of the ECT Act, states how the organisation will use any personal identifiable information provided by the client. This study investigates whether South African banks that subscribe to the ECT Act comply with the principles relating to the protection of a consumer’s personal information. The study employed the research methods of content analysis and interviews. The findings indicate that some banks only complied with a few of the ECT Act principles, which, according to the interview respondents, undermines the levels of trust which are in play between their banks and themselves. The respondents themselves were not fully aware of all the ECT Act requirements. This lack of awareness results in consumers failing to assess the comprehensiveness of their bank’s policy statements and to what extent such banks comply with the ECT Act.

  16. Macroeconomic and policy implications of population aging in Brazil

    OpenAIRE

    Jorgensen, Ole Hagen

    2011-01-01

    This paper analyzes the macroeconomic implications of population aging in Brazil. Three alternative yet complementary methodologies are adopted, and depending on policy responses to the fiscal implications of aging, there are two main findings: First, saving rates could increase and not necessarily fall as a consequence of aging in Brazil -- thus contradicting conventional views. Second, l...

  17. The effect of monetary policy of Central Bank on activities of Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Hossein Vazifehdust

    2013-08-01

    Full Text Available This paper examines the relationship between monetary policy and activity of the Tehran Stock Exchange. The statistical population of the research consists of all companies listed in Tehran Stock Exchange and central bank monetary policy variables including time series generated by the central bank seasonally. For the purpose of data analysis, econometric autoregressive system models, and two-stage ADF regression with unit roots test, co-integration and reliability were used to determine level of effect and type of effect of the four components of monetary policy on exchange activity. The results of this study show that there is a strong relation between share price index and monetary policy variables and between monetary policy variables and trading volume. However, the relation between monetary policy variables and cash yield index was not so strong, but monetary policy variables’ effect on stock exchange activity was acceptable considering strong relation between the two first variables. It is suggested that if this work is done using non-linear models, it will yield better results.

  18. Monetary policy, bank capital and credit supply: a role for discouraged and informally rejected firms

    OpenAIRE

    Popov, Alexander

    2013-01-01

    This paper conducts the first empirical study of the bank balance sheet channel using data on discouraged and informally rejected firms in addition to information on the formal loan granting process. I take advantage of a unique survey data on the credit experience of firms in 8 economies that use the euro or are pegged to it over 2004-2007, and analyze the effect of monetary policy and the business cycle on bank lending and risk-taking. Identification rests on exploiting 1) the exogeneity of...

  19. Variation in macronutrients in human bank milk: influencing factors and implications for human milk banking

    DEFF Research Database (Denmark)

    Michaelsen, K F; Skafte, L; Badsberg, J H;

    1990-01-01

    Protein (P), fat (F), and carbohydrate (C) concentration in expressed human bank milk was determined by infrared analysis of 2,554 samples from 224 mothers. The mean contents of P, F, C, and energy (E, calculated from P, F, and C) were 9.0 g/L, 39.0 g/L, 71.9 g/L, and 696 kcal/L, respectively....... The main results were as follows: the P and F contents increased slightly with increasing body mass index of the mother, the P content decreased with increasing amounts of milk delivered to the milk bank, and the F content was higher in mothers delivering large amounts of milk. By selecting incoming milk...... with a high P content, we have developed a "high-protein" milk with a P content of about 12 g/L (true protein) and an E content of about 725 kcal/L. Thus, by continuous monitoring of macronutrient content in human bank milk it is possible to develop a "high-protein" milk with sufficient P and E content...

  20. Women in Marketing: Their Characteristics, Motivations, Challenges and Policy Implications

    OpenAIRE

    Ibok Nkanikpo Ibok; Etuk Samuel George

    2015-01-01

    Women constitute an important workforce in every society all over the world and contributions of women in every profession should be revisited with empirical facts. This study examines women in marketing; their characteristics, motivations and challenges using a survey method. With a sample of 60 respondents drawn across ten banks in Akwa Ibom State, the study reveals that characteristics, motivations and challenges of women has specific implications for national economic growth and marketing...

  1. Financial Innovations and Their Implications for Monetary Policy

    OpenAIRE

    ?argu Alina Camelia; Roman Angela

    2011-01-01

    Over the past few decades, many financial innovations have ensured a more efficient allocation of resources, being thus considered an engine of economic growth, but at the same time, their rapid development complicated the environment in which central bank implements its policies. In this context, the aim of our research is to analyse the impact of financial innovation on the monetary transmission mechanism, highlighting how financial innovation affects these mechanisms both by altering the c...

  2. Labor markets in low and middle income countries : trends and implications for social protection and labor policies

    OpenAIRE

    Cho, Yoonyoung; Margolis, David N.; Robalino, David A.

    2012-01-01

    This paper reviews labor market trends throughout the developing world, identifies issues and policy priorities across groups of countries, and derives implications for the World Bank's new social protection and labor strategy. Five key issues are identified: a high and growingshare of the labor force that is self?employed or working in household enterprises, exposure to income shocks with limited access to risk management systems, low female participation rates, high youth unemployment rates...

  3. Hazardous Times for Monetary Policy: What do Twenty-three Million Bank Loans Say about the Effects of Monetary Policy on Credit Risk?

    OpenAIRE

    Jiminez, G.; Ongena, S.; Saurina, J.

    2007-01-01

    We investigate the impact of the stance and path of monetary policy on the level of credit risk of individual bank loans and on lending standards. We employ the Credit Register of the Bank of Spain that contains detailed monthly information on virtually all loans granted by all credit institutions operating in Spain during the last twenty-two years – generating almost twenty-three million bank loan records in total. Spanish monetary conditions were exogenously determined during the entire sam...

  4. Hazardous Times for Monetary Policy: What Do Twenty-Three Million Bank Loans Say About the Effects of Monetary Policy on Credit Risk?

    OpenAIRE

    Jiménez, Gabriel; Ongena, Steven; Peydró, José Luis; Saurina, Jesús

    2007-01-01

    We investigate the impact of the stance and path of monetary policy on the level of credit risk of individual bank loans and on lending standards. We employ the Credit Register of the Bank of Spain that contains detailed monthly information on virtually all loans granted by all credit institutions operating in Spain during the last twenty-two years – generating almost twenty-three million bank loan records in total. Spanish monetary conditions were exogenously determined during the entire sam...

  5. Bank Size, Risk-taking and Capital Regulation in Bangladesh

    Directory of Open Access Journals (Sweden)

    Mohammad M. RAHMAN

    2015-05-01

    Full Text Available This study examines the impact of bank size on bank regulatory capital ratios and risk-taking behavior using a panel dataset of 30 Bangladeshi commercial banks over the period 2008-2012. The relationship between bank regulatory capital ratios and bank risk-taking is also examined. For empirical analysis, generalized methods of moments (GMM panel method are used to explore the relationships among bank size, regulatory capital ratios and risk-taking behavior. Empirical results show that large banks hold lower amount of capital and take higher level of risk. Findings also show a reverse relationship between bank capital levels and bank risk-taking; that is, banks holding higher levels of regulatory capital are significantly less risky. Findings of this study has important implications for the Bangladeshi government, policy makers, banking regulators and bank stakeholders regarding bank size, regulatory capital requirements and overall banking sector risk-taking behavior.

  6. Hazardous Times for Monetary Policy : What do Twenty-three Million Bank Loans Say about the Effects of Monetary Policy on Credit Risk?

    NARCIS (Netherlands)

    Jiminez, G.; Ongena, S.; Saurina, J.

    2007-01-01

    We investigate the impact of the stance and path of monetary policy on the level of credit risk of individual bank loans and on lending standards. We employ the Credit Register of the Bank of Spain that contains detailed monthly information on virtually all loans granted by all credit institutions o

  7. Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence

    OpenAIRE

    Alan S. Blinder; Michael Ehrmann; Marcel Fratzscher; Jakob de Haan; David-Jan Jansen

    2008-01-01

    Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it written in this decade. We survey this evergrowing literature. The evidence suggests that communication can be an important and powerful part of the central bank’s toolkit since it has the ability to move financial markets, to enhance the predicta...

  8. Article Review on World Bank Report, Optimal Design for a Minimum Wage Policy in Malaysia

    OpenAIRE

    Nurrachmi, Rininta; Mad-Ahin, Ashanee; Waeowanjit, Phimpaporn; Kareemarif Arif, Naz Abdul

    2012-01-01

    There are many pros and cons with the implementation of minimum wage in Malaysia, since it is the first time. This article review is to analyze the World Bank report on Malaysian minimum wage policy that will be implemented in 2013. There are strength and weakness on the report. Moreover the review will also be analyzed from Islamic perspective since majority population in Malaysia is Muslim.

  9. Fiscal Policy and Macroeconomic Stability: New Evidence and Policy Implications

    OpenAIRE

    Xavier Debrun; Radhicka Kapoor

    2010-01-01

    The paper revisits the empirical link between fiscal policy and macroeconomic stability. Our basic presumption is that by definition, the operation of automatic stabilizers should always and everywhere contribute to greater macroeconomic stability (output and consumption). However, two stylized facts seem at odds with that prediction. First, the moderating effect of automatic stabilizers appears to have weakened in advanced economies between the mid-1990s and 2006 (the end of our main sample)...

  10. Central bank transparency, private information and the predictability of monetary policy in the financial markets : theoretical, experimental and empirical evidence

    NARCIS (Netherlands)

    Middeldorp, M.H.

    2010-01-01

    Central banks worldwide have become considerably more communicative about their policies and forecasts. An important reason is that democratic societies expect such transparency from public institutions. Central bankers, supported by a significant body of empirical research, also believe that sharin

  11. The adaptation of monetary policy to the constraints of the global financial crisis by central banks of ASEAN-5 countries

    Directory of Open Access Journals (Sweden)

    Sorina BOTIŞ

    2015-12-01

    Full Text Available Global financial crisis represented an important test for central banks, generating multiple challenges that gave rise to both expanding their monetary policy tools and redefining its role in the financial system. The present work aims to identify the characteristics of the monetary policy by the central banks of the five countries belonging to ASEAN-5 Group(Indonesia, Malaysia, the Philippines, Singapore and Thailand, during and after the outbreak of the international financial crisis. For this purpose we carried out a comparative analysis between the five central bank s belonging to the Group, both in terms of the challenges of the monetary policy and the type of measures taken in response to the first. The analysis shows that central banks have different levels of responsibilities, corresponding to the internal economic and financial realities, and also different ways of adaptation and adjustment of their monetary policy.

  12. Impact of the joint-stock reform of commercial banks on the effectiveness of monetary policy in China

    Directory of Open Access Journals (Sweden)

    Fang Xianming

    2016-01-01

    Full Text Available Over the past decade, the Chinese government has conducted the joint-stock reform of state-owned commercial banks. The joint-stock reform improves the marketization level of the ownership structure of commercial banks and consequently leads to impacts on the effectiveness of monetary policy. This paper first presents the impacting mechanisms of the joint-stock reform of commercial banks on the effectiveness of monetary policy and then constructs an empirical model to test those impacts. The empirical results show that the increasing degree of joint-stock reform of commercial banks enhances the effectiveness of expansionary monetary policy but weakens the effectiveness of contractionary monetary policy in China.

  13. Climate policy implications for agricultural water demand

    Energy Technology Data Exchange (ETDEWEB)

    Chaturvedi, Vaibhav [Joint Global Change Research Inst., College Park, MD (United States); Hejazi, Mohamad I. [Joint Global Change Research Inst., College Park, MD (United States); Edmonds, James A. [Joint Global Change Research Inst., College Park, MD (United States); Clarke, Leon E. [Joint Global Change Research Inst., College Park, MD (United States); Kyle, G. Page [Joint Global Change Research Inst., College Park, MD (United States); Davies, Evan [Univ. of Alberta, Edmonton, AB (Canada); Wise, Marshall A. [Joint Global Change Research Inst., College Park, MD (United States); Calvin, Katherine V. [Joint Global Change Research Inst., College Park, MD (United States)

    2013-03-01

    Energy, water and land are scarce resources, critical to humans. Developments in each affect the availability and cost of the others, and consequently human prosperity. Measures to limit greenhouse gas concentrations will inevitably exact dramatic changes on energy and land systems and in turn alter the character, magnitude and geographic distribution of human claims on water resources. We employ the Global Change Assessment Model (GCAM), an integrated assessment model to explore the interactions of energy, land and water systems in the context of alternative policies to limit climate change to three alternative levels: 2.5 Wm-2 (445 ppm CO2-e), 3.5 Wm-2 (535 ppm CO2-e) and 4.5 Wm-2 (645 ppm CO2-e). We explore the effects of two alternative land-use emissions mitigation policy options—one which taxes terrestrial carbon emissions equally with fossil fuel and industrial emissions, and an alternative which only taxes fossil fuel and industrial emissions but places no penalty on land-use change emissions. We find that increasing populations and economic growth could be anticipated to almost triple demand for water for agricultural systems across the century even in the absence of climate policy. In general policies to mitigate climate change increase agricultural demands for water still further, though the largest changes occur in the second half of the century, under both policy regimes. The two policies examined profoundly affected both the sources and magnitudes of the increase in irrigation water demands. The largest increases in agricultural irrigation water demand occurred in scenarios where only fossil fuel emissions were priced (but not land-use change emission) and were primarily driven by rapid expansion in bioenergy production. In these scenarios water demands were large relative to present-day total available water, calling into question whether it would be physically possible to produce the associated biomass energy. We explored the potential of improved

  14. Administrative policies in Estonia : the implication on the structural arrangement

    OpenAIRE

    1997-01-01

    ADMINISTRATIVE POLICIES IN ESTONIA. THE IMPLICATION ON STRUCTURAL ARRANGEMENT Estonia has undergone vast range of changes and reforms in the last ten year period. The thesis seeks to give an account on the processes that depict the governance problematique from the administrative policy perspective. The thesis takes a closer look on the relevant political events, the development of legislation, and the factual arrangement of top administrative system. The research emphasizes t...

  15. Social Implications of Fiscal Policy Responses During Crises

    OpenAIRE

    Carlos A. Vegh; Guillermo Vuletin

    2014-01-01

    This paper studies the social implications of fiscal policy responses to crises in Latin America over the last 40 years and in the Eurozone during the aftermath of the global financial crisis. We focus on the behavior of four social indicators: the poverty rate, income inequality, unemployment rate, and domestic conflict. We find a causal link from counteryclical (procyclical) fiscal policy responses to reductions (increases) in all four social indicators. These results call into question rec...

  16. Bioavailability: implications for science/cleanup policy

    Energy Technology Data Exchange (ETDEWEB)

    Denit, Jeffery; Planicka, J. Gregory

    1998-12-01

    This paper examines the role of bioavailability in risk assessment and cleanup decisions. Bioavailability refers to how chemicals ''behave'' and their ''availability'' to interact with living organisms. Bioavailability has significant implications for exposure risks, cleanup goals, and site costs. Risk to human health and the environment is directly tied to the bioavailability of the chemicals of concern.

  17. Risk Implications of Energy Policy Instruments

    DEFF Research Database (Denmark)

    Kitzing, Lena

    of the underlying data. Modelling of stochastic price processes plays an important role in the analysis. Using concrete cases for offshore wind in Denmark and Germany, we show that feed-in premiums structurally require higher support levels than feed-in tariffs due to the higher risk exposure. We quantify......) and welfare economic effects. Focus lies on policy incentives for electricity generation from renewable energies that have significant influence on the risk profile of investments (such as renewable quota systems and fixed feed-in tariffs). The consequences of different policy portfolios are evaluated. We...... this effect for several cases, and obtain differences of 4.3-10 EUR/MWh, corresponding to up to 40% of the support payments in particular cases. Lower risk exposure under feed-in tariffs also leads to faster deployment and in some situations smaller project sizes. The results for tradable green certificate...

  18. Honeybee Economics - Implications for Ecology Policy

    OpenAIRE

    Kanniainen, Vesa; Lehtonen, Tuula; Mellin, Ilkka

    2013-01-01

    For thousands of years, humans have known the value of honeybees in agriculture. Their pollination services are crucial for the mankind, the Global ecosystem and food production. The recently documented decline of the honeybee colonies in the world is alarming and may threaten the whole living nature. To develop a proper policy intervention, the economic analysis can be employed to develop Honeybee Economics. Such an endeavour reveals striking efficiencies of honeybee societies in terms of di...

  19. European Immigrations : Trends, Structures and Policy Implications

    OpenAIRE

    2012-01-01

    This book makes an essential contribution to understanding the dynamics of contemporary immigrant inflows and integration in Europe. Though embracing a Continent-wide outlook on migration processes, it accounts, in particular, for Southern and Eastern European perspectives. This is accomplished by analysing the long-term transition countries undergo from net emigration to net immigration, as well as developments in their migrant inflows, integration and policy. Balance is achieved between des...

  20. Implications of Electronic Commerce for Fiscal Policy

    Science.gov (United States)

    Goolsbee, Austan

    In this chapter, I will consider both sides of the relationship between electronic commerce and fiscal policy. For the impact of electronic commerce on fiscal policy, I will pay particular attention to the potential sales-tax revenue losses. The data suggest that the potential losses are actually modest over the next several years. I will also consider the reverse relationship - how fiscal policy affects Internet commerce. Here the evidence suggests that taxes have a sizable effect. I point out, though, that this only supports special treatment if there is some positive externality. Without one, the tax system will lead to excessive online buying to avoid taxes. I will then deal the neglected issue of taxes and Internet access, which can create large deadweight costs both because demand may be price-sensitive and because taxes can slow the spread of new technologies. Finally, I offer some discussion of the international context of taxes and the Internet and the international temptations to raise rates on E-commerce.

  1. The central bank issuing policy and Fisher´s equation of exchange

    Directory of Open Access Journals (Sweden)

    Richard Pospíšil

    2013-05-01

    Full Text Available The issue of money and establishing interest rates are the main activities of central banks. Through this, the banks immediately influence the behaviour of households, companies, financial markets and the state with the impact on real outcome, employment and prices. When monitoring the issue of money, it is necessary to focus not only on its volume, but also on the attributes and functions carried by money. Among the first economists who considered the quality monetary aspect were J. Locke, D. Hume, D. Ricardo and others. The founders of modern monetarism of the 20th century were I. Fisher and M. Friedman. Fisher was the first to define the equation of monetary equilibrium in the present-day form. The objective of the paper is to point out different approaches to the equation and its modifications and different meanings of its variables. As regards the monetary aggregate M – Money – the paper also deals with the denomination of the aggregate to its various elements, which is significant for fulfilling monetary policy targets. This approach is very important especially at present in the time of crisis when central banks are performing their policy considering contradictory targets of price stability and economic growth.

  2. Anti-crisis monetary policy on the example of selected central banks in 2007-2011

    Directory of Open Access Journals (Sweden)

    Łukasz Kluczyński

    2015-04-01

    Full Text Available The purpose of this article was to present the actions of the monetary authorities in the light of the recent financial crisis. Destabilization of global markets and the economic recession that began with the collapse of Lehman Brothers meant that the standard monetary policy emerged ineffective in combating the crisis. The article shows how two major central banks of the world that is, the FED and the ECB, through modifying the existing instruments of monetary policy and the introduction of completely new tools tried to restore liquidity in the financial markets, after the standard monetary policy instruments have been insufficient and ineffective. In contrast, activities of the NBP also shown, which were primarily preventive aspect.

  3. Youth tobacco access: trends and policy implications

    OpenAIRE

    Gendall, Philip; Hoek, Janet; Marsh, Louise; Edwards, Richard; Healey, Benjamin

    2014-01-01

    Objective We examined whether the supply routes via which New Zealand adolescents aged 14–15 years accessed tobacco had changed during a period of dynamic policy activity. Setting We analysed data from seven consecutive years (2006–2012) of the New Zealand Action on Smoking and Health (ASH) Year 10 survey, a nationwide cross-sectional annual survey. Participants All New Zealand schools teaching Year 10 students are invited to participate in the survey; school-level participation rates have ra...

  4. Azerbaijan Demographic Change : Implications for Social Policy and Poverty

    OpenAIRE

    World Bank

    2011-01-01

    This note provides an overview of demographic changes in Azerbaijan and their policy implications. Azerbaijan's population is younger than the populations of most countries in the region. It is estimated that the population in Azerbaijan will increase from about 7.2 million in 1990 to 10.6 million by 2050. Nevertheless, Azerbaijan is beginning to experience the aging of its population, aft...

  5. Understanding Homophobic Behavior and Its Implications for Policy and Practice

    Science.gov (United States)

    Poteat, V. Paul; Russell, Stephen T.

    2013-01-01

    In this article, we consider recent advances in scholarship on homophobic bullying, and implications for policy and practice. We first consider toward whom homophobic behavior is directed, drawing attention to the nuances among LGBT youth, and the realities of homophobic bullying for heterosexual or straight youth. We review the correlates or…

  6. Innovation and inter-firm linkages : new implications for policy

    NARCIS (Netherlands)

    Nooteboom, B

    1999-01-01

    This article discusses the implications for competition, innovation and learning of different forms of inter-firm linkage, ways to govern them, different 'generic systems' of innovation, and government policy. It employs a transformed theory of transactions that can deal with innovation and learning

  7. Prescription drug abuse: problem, policies, and implications.

    Science.gov (United States)

    Phillips, Janice

    2013-01-01

    This article provides an overview on prescription drug abuse and highlights a number of related legislative bills introduced during the 112th Congress in response to this growing epidemic. Prescription drug abuse has emerged as the nation's fastest growing drug problem. Although prescription drugs have been used effectively and appropriately for decades, deaths from prescription pain medicine in particular have reached epidemic proportions. Bills related to prescription drug abuse introduced during the 112th Congress focus on strengthening provider and consumer education, tracking and monitoring prescription drug abuse, improving data collection on drug overdose fatalities, combating fraud and abuse in Medicare and Medicaid programs, reclassifying drugs to make them more difficult to prescribe and obtain, and enforcing stricter penalties for individuals who operate scam pain clinics and sell pain pills illegitimately. This article underscores the importance of a multifaceted approach to combating prescription drug abuse and concludes with implications for nursing. PMID:23245611

  8. Environmental implications of energy policy in China

    Energy Technology Data Exchange (ETDEWEB)

    Aden, N.T.; Sinton, J.E. [Lawrence Berkeley Lab., Berkeley, CA (United States). Environmental Energy Technol. Division

    2006-04-15

    Acquiring and using energy damages the environment more than almost any other set of human activities. However, increased energy usage does not necessarily lead to environmental degradation. As China's energy system undergoes sporadic bouts of market liberalisation, decentralisation, internationalisation, and urbanisation, governance plays an important role in influencing environmental outcomes. A review of institutional reforms since 1978, focusing on coal, hydropower, and rural energy, illustrates the role of government policy, implementation, and institutions in augmenting and abating the environmental degradation that can accompany expanded energy usage. This article explores the interaction between energy, governance, and the environment in China, and identifies key variables that can influence the environmental impacts of future energy usage.

  9. Adjusting Educational Policies: Conserving Resources while Raising School Quality. World Bank Discussion Papers, Africa Technical Department Series, No. 132.

    Science.gov (United States)

    Fuller, Bruce, Ed.; Habte, Aklilu, Ed.

    Progress made by African governments toward improving their educational policies is described in this collection of papers, which were presented at a conference cosponsored by the World Bank and the U.S. Agency for International Development (USAID). Since the mid-1980s, several educational policy adjustment programs have been initiated in…

  10. Cost effectiveness of GHG mitigation options and policy implication

    Energy Technology Data Exchange (ETDEWEB)

    Lim, K. S. [Korea Institute for Industrial Economics and Trade, Seoul (Korea, Republic of)

    1998-04-01

    This paper represents the summary findings and conclusions of several studies implemented about microeconomics and macroeconomics marginal costs of GHG abatement policies. Financial, economic, and, where possible, environmental microeconomics costs of reducing GHGs are estimated by a World Bank team. Six energy-related CO{sub 2} mitigation policy options are applied to estimate the macroeconomics costs of GHG emission reduction, the macroeconomics impacts on the Chinese economy. In terms of policy, conservation is a better option to cope with a restrictive mitigation constraint, assuming a developing country can achieve planned energy-saving targets. Without a CO{sub 2} emission constraint or with less restrictive CO{sub 2} emission constraints, however, the simulation results indicate that a conservation strategy may be less attractive than fuel substitution in a developing country, mainly due to the economic dampening effect of reduced production in the energy sectors. This finding suggests that an often-cited costless or negative-cost energy conservation policy may not be a better option when a less restrictive mitigation target is in force. This does not mean that the potential for energy efficiency improvements in a developing country is not worthwhile, but that the overall macroeconomics impacts should be considered before implementing the policy option. (author). 9 refs., 3 figs., 3 tabs.

  11. A Need for Renewed and Cohesive US Policy on Cord Blood Banking.

    Science.gov (United States)

    Matsumoto, Monica M; Matthews, Kirstin R W

    2015-12-01

    Stem cells obtained from umbilical cord blood (CB) are used to treat more than 80 different diseases and are a standard treatment for many types of leukemias, lymphomas, myelodysplasias, and inherited immune system disorders. CB transplants have been carried out in humans for over 25 years, and hundreds of clinical trials are currently underway investigating CB's therapeutic potential for a wide range of disorders, including autism, diabetes, cerebral palsy, and spinal cord injury. Extensive storage facilities have been established in the United States and around the world to collect, test, and freeze CB for later use in medical procedures. However, a divide between two different banking models-public versus private-has emerged, presenting several policy challenges. While the Food and Drug Administration currently regulates CB storage and use in the United States, other state and federal guidelines on CB education, awareness, and ethical considerations remain variable, and no mandatory international guidelines exist. In addition, federal funding for an important CB collection initiative that specifically targets minority populations is set to expire by the end of FY2015. To help organize and coordinate efforts across the United States and other nations, policymakers should implement regulations for: high quality standards for both private and public CB banks, a commitment to ethical practices, and an investment in educational campaigns and training programs for all steps of the CB banking process. PMID:26239848

  12. A Need for Renewed and Cohesive US Policy on Cord Blood Banking.

    Science.gov (United States)

    Matsumoto, Monica M; Matthews, Kirstin R W

    2015-12-01

    Stem cells obtained from umbilical cord blood (CB) are used to treat more than 80 different diseases and are a standard treatment for many types of leukemias, lymphomas, myelodysplasias, and inherited immune system disorders. CB transplants have been carried out in humans for over 25 years, and hundreds of clinical trials are currently underway investigating CB's therapeutic potential for a wide range of disorders, including autism, diabetes, cerebral palsy, and spinal cord injury. Extensive storage facilities have been established in the United States and around the world to collect, test, and freeze CB for later use in medical procedures. However, a divide between two different banking models-public versus private-has emerged, presenting several policy challenges. While the Food and Drug Administration currently regulates CB storage and use in the United States, other state and federal guidelines on CB education, awareness, and ethical considerations remain variable, and no mandatory international guidelines exist. In addition, federal funding for an important CB collection initiative that specifically targets minority populations is set to expire by the end of FY2015. To help organize and coordinate efforts across the United States and other nations, policymakers should implement regulations for: high quality standards for both private and public CB banks, a commitment to ethical practices, and an investment in educational campaigns and training programs for all steps of the CB banking process.

  13. Investigating the intellectual origins of Euroland's macroeconomic policy regime: central banking institutions and traditions in West Germany after the war

    OpenAIRE

    Bibow, Jörg

    2004-01-01

    This paper investigates the (re-) establishment of central banking in West Germany after 1945 and the history of the Bundesbank Act of 1957. The main focus is on the early emphasis on the ‘independence’ of the central bank, which, together with a ‘stability-orientation’ in monetary policy, proved a lasting German peculiarity. The paper inquires whether contemporary German economic thought may have provided a theoretical case for this peculiar tradition and scrutinizes the political calculus t...

  14. The Effect of Financial Pressure on the Banking Lending Policy: A Review under the 2008 Global Crisis on the Turkey

    OpenAIRE

    ERDEM, Ekrem; M. Fatih ILGUN; Cuneyt DUMRUL

    2011-01-01

    The global financial crisis in 2008 has affected economies in many aspects. Besides the devastating effects of the crisis on banks, expansionary policies have been revived in consequence of economic recession. On the other hand, the recovery packages for financial sector have imposed a burden on public finance and therefore have increased borrowing requirement. Consequently, the interaction between the balance of public finance and the changes in structure of banking system has become more im...

  15. Demand for Carbonated Soft Drinks: Implications for Obesity Policy

    OpenAIRE

    Rigoberto A. Lopez; Kristen L. Fantuzzi

    2012-01-01

    This article examines consumer choices of Carbonated Soft Drinks (CSDs) and their implications for obesity policy. Demand in relation to product and consumer heterogeneity is estimated via a random coefficients logit model (Berry et al., 1995) applied to quarterly scanner data for 26 brands in 20 US cities, involving 40000 consumers. Counterfactual experiments show that caloric taxes could be effective in decreasing caloric CSD consumption though having little impact on obesity incidence.

  16. Policy Preference Functions: The Implications of Recent Developments

    OpenAIRE

    Cramon-Taubadel, Stephan von

    1997-01-01

    The policy preference function (PPF) approach continues to be the subject of considerable interest in agricultural economics. Recent work has added sophistication and strengthened the approach's theoretical underpinnings. In this paper, several implications of this recent work are considered. First, the distinction between the PPF and the surplus transformation curve (STC) is stressed. Estimated PPF weights are derived from what we know about the STC. We actually know very little about the PP...

  17. Child Mortality and Injury in Asia: Policy and programme implications

    OpenAIRE

    Michael (et al.) Linnan

    2007-01-01

    Special Series on Child Injury no.4 This paper presents a summary of the findings of the national and sub-national surveys and discusses the implications of the results on child health policy and programmes.The principal finding is that injury has generally been unrecognized as a leading cause of child death. This is largely because the previous estimates of child mortality causality were unable to include injury due to technical issues. The surveys provide convincing evidence that injury is ...

  18. Policy Implications of Limiting Immigrant Concentration in Danish Public Schools

    DEFF Research Database (Denmark)

    Andersen, Simon Calmar; Thomsen, Mette Kjærgaard

    2011-01-01

    since it is more feasible to change student composition in schools than the socioeconomic status of the individual students.This article describes theoretically the circumstances under which total student achievement can be increased by reallocating certain groups of students. Empirical analyses......’ educational outcome, by limiting the share of immigrant students at grade level at any one school to less than 50 percent. The policy implications of this finding are discussed....

  19. SYSTEMIC CRISIS MANAGEMENT AND THE IMPACT ON MONETARY POLICY. THE INVOLVEMENT OF CENTRAL BANKS. AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Adriana GIBA

    2011-09-01

    Full Text Available In a systemic crisis, many institutions in the financial system may face a lack of liquidity and central banks, as lenders of last resort, have to support them in order to ensure their financial stability. The question is: To what extent the involvement of central banks in systemic crises management, by providing liquidity to credit institutions, affects their ability to accomplish the central goal of monetary policy - price stability?To answer this question, through this study, we conducted an empiricalanalysis on the effect which central banks’ involvement in systemic crises management, through liquidity support, has on monetary policy objectives, mainly on price stability. Using a principal components analysis, we built a Monetary policy index and we developed a regression model between this index and the liquidity support provided by central banks in systemic crises.The conclusion we reached is that the provision of liquidity by the central bank to banking institutions in the system affects its monetary policy objectives only on the short -term. Specifically, providing liquidity support leads to an increase in both monetary aggregates and consumer price index in the first two years of the crisis, after which there is a significant dilution of this impact.

  20. The industry effects of monetary policy and their welfare implications

    Directory of Open Access Journals (Sweden)

    Ivo J.M. Arnold

    2000-09-01

    Full Text Available Economic theory provides at least two explanations for differential regional effects of a common monetary policy. The traditional money view focuses on regional differences in industry mix. Alternatively, the more recent credit view emphasizes differences in financial structure. This paper aims to make two contributions. First, building on the work by Carlino and DeFina (1998, I estimate impulse responses of sector earnings to monetary policy shocks for regions of the United States. An analysis of variance shows that the sector effect dominates the regional effect, providing further evidence for the importance of the industry mix. Second, the paper addresses the welfare implications of industry effects of monetary policy. One would expect industries suffering disproportionately from the impact of monetarypolicy to compensate their employees and shareholders. The US evidence on compensating wage and return differentials is, however, mixed.

  1. AN ECONOMIC PERSPECTIVE AND POLICY IMPLICATION FOR SOCIAL ENTERPRISE

    Directory of Open Access Journals (Sweden)

    Yoon-Doo Kim

    2014-01-01

    Full Text Available This study looked at the current status of Korean social enterprises and their problems and suggested governmental policy implications for enhancing the competitiveness of social enterprises. As the study methods, the current status of social enterprises was analyzed and performance of social enterprise support was examined and then policy implications for promoting the social enterprises were analyzed. First, the direction of governmental policy regarding the promotion of social enterprise should be converted into the ecosystem oriented or each business oriented getting out of the labor cost oriented and should emphasize on the follow up management and evaluation. Second, the certification program that bothers the expansion of social enterprises should be changed. That is, the government should change a policy into the direction that leaves the activities of social enterprise to the market function while easing the criteria of certification. Only by this, can more activities and job creation effects of social enterprise be expected. Third, the directions of governmental policies related to social entrepreneur fostering should be corrected and complemented. To resolve this so called problem, a standard model including the policy of standardized programs and contents for each business, type and local autonomous entity needs to be suggested. The educational programs and contents composed of such a standard model can enhance the professionalism and efficiency in social entrepreneur fostering. Finally the concept of social economy is needed to be more wide spread. That is, as a base of social enterprise activity, systematic and professional educational programs through university or graduate school are required. In Korea, for social enterprise to develop, excessive governmental involvement in the market should decrease. That is, the certification requirement for social enterprise should be eased much and a direct support for social enterprise should

  2. Water Banks: Using Managed Aquifer Recharge to Meet Water Policy Objectives

    Directory of Open Access Journals (Sweden)

    Sharon B. Megdal

    2014-05-01

    . This paper describes water banking in Arizona from a policy perspective and identifies reasons for its implementation. It goes on to explore conditions under which water banking could successfully be applied to other parts of the world, specifically including Australia.

  3. GROWTH ECONOMIC MODELS AND THEIR IMPLICATIONS TO FINANCIAL POLICY DURING TRANSITION. ATHEORETICAL APPROACH

    Directory of Open Access Journals (Sweden)

    BOGDAN FIRTESCU

    2012-05-01

    Full Text Available During 1989, the moment of changes in Eastern Europe, in socialist countries political system were transformed, by renouncing communism, and adopting market based economy. The process had major implications on economic systems in countries such Romania, Bulgaria, Hungary, Poland, Czechoslovakia, that from that moment engaged in wide-ranging political, social, economic and institutional reforms. The year 1989 also marked the beginning of the transition from socialist economy to a market economy to centralized countries mentioned, a process with profound implications on the economic system and financial default. This important structural reforms necessary functioning new economic framework and assumed behavior modification specific old economy, focused on socialist property, presumably achieve in conditions of relative stability allowing rapidly and sustainable growth. This paper takes into discussion some models used by FMI and World Bank (WB that had implications on financial policy applied in transition country, referring to absorption theory, monetary approach to balance of payment and stabilization programs, as short terms models, respectively.

  4. Banks' Stability: The effect of Monetary Policies in the light of Global Financial Crisis

    Directory of Open Access Journals (Sweden)

    Wael Bakhit

    2014-04-01

    Full Text Available This paper employs a quarterly time series to determine the timing of structural breaks for interest rates in USA over the last 60 years. The Chow test is used for investigating the non-stationary, where the date of the potential break is assumed to be known. Moreover, an empirically examination of the financial sector to check if it is positively related to deviations from an assumed interest rate as given in a standard Taylor rule. The empirical analysis is strengthened by analysing the rule from a historical perspective and look at the effect of setting the interest rate by the central bank on financial imbalances. The empirical evidence indicates that deviation in monetary policy has a potential causal factor in the build up of financial imbalances and the subsequent crisis where macro prudential intervention could have beneficial effect. Thus, my findings tend to support the view which states that the probable existence of central banks has been one source of global financial crisis since the past decade.

  5. Aspects of career development and information management policies at the Bank of Japan - a frank interview with a former central banker

    OpenAIRE

    Werner, R. A.

    2004-01-01

    Relatively little empirical research has been published on the internal affairs of central banks. Secrecy is a key aspect of central banking, and this has posed a major obstacle to researchers. In this paper, an experienced and senior former Bank of Japan official is interviewed concerning the personnel management and information management policies, as well as the informal ‘guidance’ at the Bank of Japan. A number of surprising details emerge concerning the personnel management and info...

  6. Non-governmental organisations and development policies : identifying and ezplaining strategies : the case of the World Bank's Narmada Dam project

    OpenAIRE

    1996-01-01

    NON-GOVERNMENTAL ORGANISATIONS AND DEVELOPMENT POLICIES: IDENTIFYING AND EXPLAINING STRATEGIES. THE CASE OF THE WORLD BANK'S NARMADA DAM PROJECT. Non-governmental organisations (NGOs) and their efforts to influence international environment and development policies have been the subject of interest to a number of scholars throughout the last decade. However, little systematic research has been conducted on the strategies adopted by NGOs, and no theories have been developed so far. The...

  7. Employment-Oriented Central Bank Policy in an Integrated World Economy: A Reform Proposal for South Africa

    OpenAIRE

    Gerald Epstein

    2002-01-01

    The South African Reserve Bank and Ministry of Finance have adopted inflation targeting and the gradual relaxation of exchange controls (along with control of public spending and financial liberalization) as the foundation of their economic policy in an attempt to win the confidence of foreign investors and to attract more foreign investment. However, this policy has not succeded in generating employment growth or investment. Instead, it has contributed to high real interest rates and relativ...

  8. The application of the environmental and social standards (safeguard policies) of the World Bank to pipeline projects

    Energy Technology Data Exchange (ETDEWEB)

    Nickel, E. [Elke Nickel Consultant, Leipzig (Germany); Robelus, R. [World Bank, Washington, DC (United States)

    2004-07-01

    In 1998, the World Bank applied environmental and social standards in connection with dam and pipeline projects. Their position on international lending was consolidated by the strict application of safeguard policies. This paper focused on the use of safeguard policies in pipeline projects during the planning and implementation phases. The standards have been analyzed according to the role of safeguard policies in the examination for credit rating; the structure and nature of the safeguard policies; and, new trends in the application of standards. The example of the Baku-Tiblisi-Ceyhan oil pipeline was presented along with the requirements established under the World Bank Operational Directive (OP) 4.01 on environmental assessment. In 2003, the largest internationally active commercial banks voluntarily complied with the World Bank standards in major projects. The safeguard policies of the World Bank refer to standards which are the foundation for environmental and ecological risk assessment in the context of credit-rating reviews. Although the safeguard policies were modeled largely on the specifications of the United States Environmental Protection Act, they requires consideration of the national legislation of the host country, and ratified international environmental agreements. The following elements compose the development of a financing model for credit rating review: internal check of the pipeline project; discussion of the project outline with financing institutions; execution of feasibility studies; project-preparatory phase; and, conclusion of contracts. The safeguards include procedural and qualitative guidelines for environmental assessment, natural habitats, pest management, cultural property, indigenous people, involuntary resettlement, forestry, dam safety, international waterways, disputed areas, and information disclosure. 8 refs., 1 tab., 3 figs.

  9. Interrogating an Omission: The Absence of a Rights-Based Approach to Education in World Bank Policy Discourse

    Science.gov (United States)

    Menashy, Francine

    2013-01-01

    This study provides a discursive analysis of World Bank policy documents in order to reveal the stark omission of a rights-based approach to education, while highlighting instead the support of an economic-instrumentalist approach. Plausible explanations are provided to shed light on this exclusion, including the feasibility critique of education…

  10. FISCAL - BUDGETARY POLICY IMPLICATIONS ON THE SUSTAINABLE ECONOMIC RELAUNCH

    Directory of Open Access Journals (Sweden)

    CHIRCULESCU MARIA FELICIA

    2014-05-01

    Full Text Available This paper aims to highlight the implications of fiscal policy and budgetary measures on the Romanian economy after its inclusion on the coordinates of the market economy. Thus, we analyzed the evolution of macroeconomic indicators in conjunction with fiscal measures adopted. The research shows that the measures adopted in fiscal plan were passed on the economy, the effects of registration are often contrary to those expected. Giving a leading role financial tax system generally increased tax burden, accompanied by a low collection rate, repeated changes in tax laws and poor economic conditions concrete. In this context, the creation, allocation and optimal redistribution of budget resources are useful elements in the sustainable recovery of economic growth. I believe that fiscal policy is a permanent policy contestable numerous debates about the effectiveness of using a tax system for purposes other than financial concern namely monetary resources needed to cover expenditure for social or collective needs. Fiscal integrity in the decision process of traders produce permanent changes in their original condition, a change in behavior due to their concern objectively to find those ways of organizing and selling activities to generate the lowest tax burden. I appreciate that fiscal policy remains a tool of macroeconomic adjustment to national authorities. This means that the responsibility of maintaining budgetary balance and the responsibility of maintaining balance in the real economy will always return to the National Government.

  11. Seed banks in desert grasslands and implications for management with an application to education and outreach

    Science.gov (United States)

    Ortiz-Barney, Elena

    Large areas of desert grasslands in the southwestern United States have been converted to shrublands through mismanagement. Land managers are interested in the potential for restoring these areas to grasslands. One possible source of new individuals of desirable grasses is the soil seed bank. This study was designed to investigate the quantity and spatial distribution of seeds in the soil seed bank and to estimate the possible effects of fire on the seed bank. To investigate the seed bank, soil samples were collected from sites with different vegetative cover representing a range of grassland conditions. At each site samples were collected from 3 microsites (under grasses, under shrubs, and interspaces) and separated into 3 depths (litter, 0--2 cm and 2--5 cm). Samples were grown in a growth chamber and plants were identified after emergence and flowering. To investigate the effects of prescribed burns on the seed bank, soil and surface temperatures during burns were measured at each microsite. Also, the heat tolerance of seeds of 8 species of perennial grasses was assessed by quantifying germination rates across a temperature gradient. Eleven species of perennial grasses germinated from soil and litter samples. Only 5 were abundant: the exotics Eragrostis curvula and E. Lehmanniana, and the natives E. intermedia, Lycurus setosus and Sporobolus cryptandrus. Most seed, as well as highest species richness, occurred in the litter layer and under shrubs. Temperatures during prescribed burns were highest in these same microsites, reaching averages between 100° and 250° Celsius (C). None of the species tolerated temperatures above 100°C. The implication of these results is that most grass seed reserves are stored in microsites that are likely to experience temperatures above their heat tolerance. Land managers should take this into account as a possible risk associated with using prescribed burns as part of their restoration efforts. As an application of this work to

  12. Implications of the globalization of the banking sector: the Latin American experience

    OpenAIRE

    Joe Peek; Rosengren, Eric S.

    2000-01-01

    Foreign entry into domestic banking markets remains a contentious issue. Whether privatizing a state bank in Brazil or selling a failed bank in Japan, the proposed sale of a large domestic financial institution, possibly to a foreign acquirer, frequently results in a major controversy. Many Asian countries have yet to experience major foreign penetration of domestic banking markets, while Latin American countries have privatized many of their banks and have encouraged foreign banks to enter t...

  13. IMPLICATIONS OF CROSS-BORDER MERGERS AND ACQUISITIONS IN THE POLISH BANKING SECTOR IN THE CONTEXT OF THE GLOBAL FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    ZBIGNIEW KORZEB

    2010-01-01

    Full Text Available The article presents the implications of the global financial crisis upon the Polish banking sector, formed under the influence of cross-border mergers and acquisitions. It illustrates the consequences of financial problems of foreign strategic shareholders in banks operating in Poland upon the stability of the entire banking system. It presents the proposed future directions of action to protect the stability of the banking system. It seems that in the case of a banking system as special as the Polish one, the key role will belong to the quality of the three main pillars of control over the work of banks: supervisory institutions, market discipline an corporate governance.

  14. BASEL III – IMPLICATIONS OF THE NEW AGREEMENT UPON THE BANKING SYSTEMS

    Directory of Open Access Journals (Sweden)

    VLADA RAMONA IOANA

    2013-12-01

    Full Text Available Global banking crisis generated by the subprime crisis in the U.S., received in December 2010, as a response from the Committee on Banking Supervision of the Bank for International Settlements, new capital adequacy rules for banks under the Basel III title: International framework for measurement, standardization and monitoring of liquidity risk, and Basel III: A global regulatory framework for banks and a sounder banking system with new capital adequacy rules for banks. These regulations are the focus of global financial reform to prevent future occurrence of banking crises.

  15. European Central Bank and Federal Reserve USA: monetary policy effects on the returns volatility of the Italian Stock Market Index Mibtel

    OpenAIRE

    Francesco, Guidi

    2008-01-01

    What is the effect of either European Central Bank and Federal Reserve monetary policies on the Italian Index Mibtel? This paper aims to evaluate the impact of monetary policy announcements of the most important Central Banks on the volatility of returns which have been considered at both sectorial and sub-sectorial levels during the period 1999-2008. Using EGARCH models, this work shows that expansive monetary policies may influence stock market indexes much more than restrictive monetary po...

  16. Policies for teacher education and recommendations of the World Bank: interfaces with the current context of literacy teacher education in Brazil

    OpenAIRE

    Jani Alves da Silva Moreira; Renata Valério da Silva

    2016-01-01

    The purpose of this paper is to analyze the recommendations of the World Bank and its relation to the policies of teacher education in Brazil, in order to identify the concordances between current policies for teacher education in the literacy context. This is a document analysis of theoretical and critical nature, which permitted to observe that current policies for teacher education are consistent with the recommendations of the World Bank. Such guidelines generate the allocation of respons...

  17. Energy security in China: A quantitative analysis and policy implications

    International Nuclear Information System (INIS)

    This study aims to examine how China's energy security has changed over 30 years of reform and the opening period. It constructs a 4-As quantitative evaluation framework—the availability of energy resources, the applicability of technology, the acceptability by society, and the affordability of energy resources. The quantitative results show that China's energy security was at its best during the sixth FYP period (1981–1985), but then deteriorated until it hit higher levels between 1995 and 2005. However, it was still lower than the level reached during the sixth FYP period. During the eleventh FYP period (2006–2010), the energy security situation deteriorated again. Differences in policy priority over the study period appear to affect the country's energy security status. This study suggests that China needs to develop renewable energy resources on a large scale and pay more attention to emissions control to reverse the downward trend in energy security. - Highlights: • This study establishes a comprehensive and quantifiable energy security concept. • China's energy security situation appears not to improve over its reform period. • Domestic policies and reforms attributed to the energy security in China. • Policy implications of what China implemented and needs to implement are drawn

  18. BioMagResBank (BMRB) as a partner in the Worldwide Protein Data Bank (wwPDB): new policies affecting biomolecular NMR depositions

    International Nuclear Information System (INIS)

    We describe the role of the BioMagResBank (BMRB) within the Worldwide Protein Data Bank (wwPDB) and recent policies affecting the deposition of biomolecular NMR data. All PDB depositions of structures based on NMR data must now be accompanied by experimental restraints. A scheme has been devised that allows depositors to specify a representative structure and to define residues within that structure found experimentally to be largely unstructured. The BMRB now accepts coordinate sets representing three-dimensional structural models based on experimental NMR data of molecules of biological interest that fall outside the guidelines of the Protein Data Bank (i.e., the molecule is a peptide with 23 or fewer residues, a polynucleotide with 3 or fewer residues, a polysaccharide with 3 or fewer sugar residues, or a natural product), provided that the coordinates are accompanied by representation of the covalent structure of the molecule (atom connectivity), assigned NMR chemical shifts, and the structural restraints used in generating model. The BMRB now contains an archive of NMR data for metabolites and other small molecules found in biological systems

  19. Monetary Policy Shocks from the EU and US: Implications for Sub-Saharan Africa

    OpenAIRE

    Kronick, Jeremy

    2014-01-01

    This paper addresses the debate in the literature on how developing countries are affected by foreign monetary policy shocks. I analyze how contractionary monetary policy shocks originating in different regions, specifically the Euro Area (“EU”) and United States (“US”), affect a set of rarely investigated sub-Saharan African (“SSA”) countries. Foreign monetary policy shocks are identified using changes in central bank futures rates, and are inserted into a domestic structural vector autoregr...

  20. The Policies of the IMF and the World Bank and the Rights of Peoples

    Directory of Open Access Journals (Sweden)

    Antoni Pigrau Solé

    1995-07-01

    Full Text Available 50 years after the holding of the Bretton Woods Conference which gave way to the creation of the International Monetary Fund (IMF and the World Bank (WB, it would seem appropriate to evaluate their track record in the light of International Law and the Rights of peoples. The enormous impact that the activities of both organisms have had and still have on the living conditions of millions of people throughout the world make such an evaluation necessary.Through an analysis of the juridical nature of the IMF and the WB together with a detailed look at its aims as well as its capacity to make decisions and the results of its actions, an attempt is made to show that these organizations do not conform -neither in their operation nor behaviour nor in the results to which these lead- to fundamental rules of International Law and that they are, as a consequence, technically responsable for such non-fulfillment to these rules and should be made to be so to full effects. However, in the current international context, it would be, politically speaking,almost implausible to raise the question of their legal responsibility and is, furthermore very difficult to do so from a legal point of view. What is questioned here is not only the management of the IMF and the WB but also its very own configuration and the essence of the concepts and the policies which they apply.

  1. Monetary Policy Committees, Learning and Communication

    OpenAIRE

    Anke Weber

    2010-01-01

    This paper considers optimal communication by monetary policy committees in a model of imperfect knowledge and learning. The main policy implications are that there may be costs to central bank communication if the public is perpetually learning about the committee's decision-making process and policy preferences. When committee members have heterogeneous policy preferences, welfare is greater under majority voting than under consensus decision-making. Furthermore, central bank communication ...

  2. Community Development and Human Capital Loretta J Mester-President and CEO-Federal Reserve Bank of Cleveland-2015 Policy Summit on Housing, Human Capital, and Inequality

    OpenAIRE

    Mester, Loretta J.

    2015-01-01

    As president and chief executive officer of the Federal Reserve Bank of Cleveland, Loretta J. Mester participates in the formulation of U.S. monetary policy, and oversees 950 employees in Cleveland, Cincinnati, and Pittsburgh who conduct economic research, supervise banking institutions, and provide payment services to commercial banks and the U.S. government. She assumed her role as president and CEO in June 2014.

  3. Use of Statistics in the Monetary Policy of the Czech National Bank: The Case of a Country in Transition

    OpenAIRE

    Matalík, Ivan; Arlt, Josef

    2005-01-01

    In the presented text the authors judge the importance of statistics in the monetary policy of the Czech National Bank (CNB) over the course of the economic transformation process, with particular consideration of changing statistical needs and the possibilities and limits of statistical data exploitation in the monetary analyses. The importance of statistics lies on the level of collection and processing of statistical information and on the level of use of statistical methods...

  4. Central bank capital, financial strength, and the Bank of Japan

    OpenAIRE

    Cargill, Thomas F.

    2006-01-01

    This Economic Letter addresses central bank capital and financial strength in the context of Bank of Japan policy (Cargill 2005). Specifically, it reviews general considerations about central bank capital and financial strength, discusses recent Bank of Japan policy in the context of capital structure, evaluates the Bank of Japan's concern in the context of the broader issue of central bank independence, and draws some lessons from recent Bank of Japan policy.

  5. CURRENT STATUS AND POLICY IMPLICATIONS FOR FOSTERING SOCIAL ENTREPRENEUR

    Directory of Open Access Journals (Sweden)

    Yoon-Doo Kim

    2012-01-01

    Full Text Available In this study, problems in current status of social entrepreneurs in Korea were examined and further policy issues for them were suggested as well. For the methodology, the study analyzed the drawbacks and policy implication of fostering social entrepreneurs through Focus Group Interview (FGI on analysis of present condition of incubating social entrepreneur and programs for it. First, it should escape from personnel expense-centered one and convert to ecosystem-centered or division-centered project in the direction of the government for fostering social entrepreneurs, putting emphasis on follow-up management and evaluation. Second, it must suggest a standard model for social entrepreneur promotion project. In other words, the projects with low performance should be reduced and education models appropriate for new circumstances and changes must be adopted through not only programs standardized in divisions, categories and local provinces, but also appointing expert instructors and project evaluation. Third, it’s necessary to propose specific guideline for detailed education operation according to education trainee and objectives of social entrepreneur. Fourth, it is needed to have more various contents development and distribution by strengthening support for specialized foundation, management and case studies related to fostering social entrepreneurs. Finally, it is even more required to spread awareness on social economics relating to programs for fostering social entrepreneur. With the long-term perspective, it is needed to render policy and specialization for fostering Korean-model social entrepreneurs, which is able to raise competent social entrepreneurs suitable for each stage of growth such as sourcing, incubation and launching social entrepreneurs.

  6. Australian alcohol policy 2001–2013 and implications for public health

    OpenAIRE

    Howard, Steven J.; Gordon, Ross; Jones, Sandra C

    2014-01-01

    Background Despite a complex and multi-faceted alcohol policy environment in Australia, there are few comprehensive reviews of national and state alcohol policies that assess their effectiveness and research support. In mapping the Australian alcohol policy domain and evaluating policy interventions in each of the core policy areas, this article provides a useful resource for researchers. The implications for protecting public health emanating from this mapping and evaluation of alcohol polic...

  7. Bank Finance For Small And Medium-Sized Enterprises In Sri Lanka: Issues And Policy Reforms

    Directory of Open Access Journals (Sweden)

    Gamage Pandula

    2015-08-01

    Full Text Available Access to bank finance is necessary to create an economic environment that enables Small and Medium-sized enterprises (SMEs to grow and prosper. The SMEs in Sri Lanka, however, face significant constraints to access bank finance. The purpose of this paper is to investigate the access to bank finance and related issues in the SME sector of Sri Lanka. The paper is exploratory in nature and reviews the bank financing situation for SMEs in Sri Lanka, as well as provides an overview of constraints faced by the banks (supply-side and SMEs (demand-side. The paper also highlights some good practices in SME lending from international experience and outlines some recommendations to help overcome the constraints faced by the banks and SMEs. The recommendations discussed in this paper may be of importance to policymakers, not only in Sri Lanka, but in many other developing countries in a similar stage of economic growth.

  8. Does central bank communication really lead to better forecasts of policy decisions? New evidence based on a Taylor rule model for the ECB

    NARCIS (Netherlands)

    Sturm, Jan-Egbert; De Haan, Jakob

    2011-01-01

    Nowadays, it is widely believed that greater disclosure and clarity over policy may lead to greater predictability of central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the information provided by a Taylor rule model in which real-t

  9. Corporate governance of banking group: international recommendations, european policies and national practices

    OpenAIRE

    Nedelchev, Miroslav

    2014-01-01

    The new institutional framework put on the agenda a review of established models and introducing new perspectives in economics. The role of banking groups for economic growth and competitiveness place corporate governance practices of critical analysis. The development of banking in the twentieth century brought to the fore the advantages of conducting activities cross-border. The global economic recession determines the corporate governance of international banking groups as a source of the ...

  10. Economic Rationales for Central Banking: Historical Evolution, Policy Space, Institutional Integrity, and Paradigm Challenges

    OpenAIRE

    Poomjai Nacaskul; Kritchaya Janjaroen; Suparit Suwanik

    2012-01-01

    The late-2000s global financial crisis saw increased public profiles and balance sheets of both the US and European central banks, their combined series of financial rescue measures in effect pushing the envelope of central banking modus operandi. And in general, somewhat anecdotally amongst non-crisis Asia-Pacific/emerging economies, central banks are under increased pressure to pursue growth agenda, or at least being publicly called to task as to whether strict inflation regime is all that ...

  11. Geo hazard studies and their policy implications in Nicaragua

    Science.gov (United States)

    Strauch, W.

    2007-05-01

    Nicaragua, situated at the Central American Subduction zone and placed in the trajectory of tropical storms and hurricanes, is a frequent showplace of natural disasters which have multiplied the negative effects of a long term socioeconomic crisis leaving Nicaragua currently as the second poorest country of the Americas. In the last years, multiple efforts were undertaken to prevent or mitigate the affectation of the natural phenomena to the country. National and local authorities have become more involved in disaster prevention policy and international cooperation boosted funding for disaster prevention and mitigation measures in the country. The National Geosciences Institution (INETER) in cooperation with foreign partners developed a national monitoring and early warning system on geological and hydro-meteorological phenomena. Geological and risk mapping projects were conducted by INETER and international partners. Universities, NGO´s, International Technical Assistance, and foreign scientific groups cooperated to capacitate Nicaraguan geoscientists and to improve higher education on disaster prevention up to the master degree. Funded by a World Bank loan, coordinated by the National System for Disaster Prevention, Mitigation and Attention (SINAPRED) and scientifically supervised by INETER, multidisciplinary hazard and vulnerability studies were carried out between 2003 and 2005 with emphasis on seismic hazard. These GIS based works provided proposals for land use policies on a local level in 30 municipalities and seismic vulnerability and risk information for each single building in Managua, Capital of Nicaragua. Another large multidisciplinary project produced high resolution air photos, elaborated 1:50,000 vectorized topographic maps, and a digital elevation model for Western Nicaragua. These data, integrated in GIS, were used to assess: 1) Seismic Hazard for Metropolitan Managua; 2) Tsunami hazard for the Pacific coast; 3) Volcano hazard for Telica

  12. The Strategic Implications of Corporate Responsibility and Sustainability in the UK Banking Sector

    OpenAIRE

    Amacanin, Milagros Caminade

    2005-01-01

    This dissertation is an explorative study of the interface between sustainability and banking. As corporate responsibility has become the buzzword in the banking industry, banks have been urged to actively engage in contributing to sustainable development given their intermediate position in the economic system. The primary research objective of this study is to identify the various facets of the response of banks to sustainability issues. To achieve a more comprehensive understanding of the ...

  13. Uncommon Knowledge: World Bank Policy and the Unmaking of the Knowledge Economy in Africa

    Science.gov (United States)

    Obamba, Milton O.

    2013-01-01

    The World Bank is clearly one of the most influential global intergovernmental operators for international development assistance. In recent decades, the Bank and other agencies have invested immense technical and financial resources in a troubled and unprecedented mission of revitalizing and restructuring the development of education in Africa. A…

  14. The 1992 World Administrative Radio Conference: Technology and Policy Implications

    Science.gov (United States)

    1993-05-01

    As the 20th century draws to a close, new radio technologies and services are poised to change the ways we communicate. Radio waves already make possible a wide range of services considered commonplace--AM and FM radio broadcasting, television, cellular telephones, remote garage-door openers, and baby monitors. Advances in radio technology are giving birth to even more new products and services, including pocket-sized telephones that may allow people to make and receive calls anywhere in the world, high-definition televisions (HDTV) with superior quality pictures and sound, and static-free digital radios. The 1992 World Administrative Radio Conference (WARC-92) authorized frequencies for many of these new radio communication services, and granted additional frequencies for many existing services, including international broadcasting, satellite-based mobile communications, and communications in space. The effects of these changes will be felt well into the 21st century as countries around the world develop and deploy new communications systems to serve the needs of consumers, businesses, and governments. For the United States, the decisions made at the conference will critically affect how we develop new radio technologies and applications, how competitive this country will be in radio communications equipment and services, and how effectively the United States can exercise its role as a leader in world radio communication policymaking. This study of the outcomes and implications of WARC-92 was requested by the House Committee on Energy and Commerce and the Senate Committee on Commerce, Science, and Transportation. OTA was asked to evaluate the success of U.S. proposals at the conference, discuss the implications of the decisions made for U.S. technology and policy development, and identify options for improving U.S. participation in future world radio communication conferences.

  15. THE INDEPENDENCE OF CENTRAL BANKS IN CENTRAL AND EASTERN EUROPE-A MONETARY POLICY STRATEGY BASED APPROACH

    Directory of Open Access Journals (Sweden)

    Popescu Iulian Vasile

    2013-06-01

    Full Text Available The present paper aims to examine the trends of the last decade and a half of central banks independence (CBI in Central and Eastern European countries on the road to the euro adoption and to compare the results with those identified in the case of the European Central Bank (ECB. We approached CBI from the perspective of monetary policy strategies central banks (CBs use. The main results show increasing independence during the selected time frame for all monetary authorities subject to analysis, regardless of the applied monetary policy strategy; superior average levels of CBI in CEE countries oriented to inflation targeting compared to those using the exchange rate as nominal anchor; higher degree of independence of ECB in relation to monetary authorities that use an inflation targeting strategy; the simultaneous presence of a significant level of independence, low inflation and stronger economic development in CEE members where CB is geared towards inflation targeting compared to CBs that implement a strategy of exchange rate targeting.

  16. Robust monetary policy, structural breaks, and nonlinearities in the reaction function of the Central Bank of Brazil

    Directory of Open Access Journals (Sweden)

    Gabriela Bezerra de Medeiros

    2016-01-01

    Full Text Available In this work, we seek to investigate the existence of nonlinearities in the reaction function of the Central Bank of Brazil arising from this policymaker's uncertainties about the effects of the output gap on inflation. Theoretically, we follow Tillmann (2011 to obtain a nonlinear optimal monetary policy rule that is robust to uncertainty about the output-inflation trade-off of the Phillips Curve. In addition, we perform structural break tests to assess possible changes in the conduct of the Brazilian monetary policy during the inflation-targeting regime. The results indicate that: (i the uncertainties about the slope in the Phillips curve implied nonlinearities in the Central Bank of Brazil's reaction function; (ii we cannot reject the hypothesis of a structural break in the monetary rule parameters occurring in the third quarter of 2003; (iii there was an increase in the response of the Selic rate to output gap and a weaker response to the current inflation gap in Meirelles–Tombini's administration; and (iv the Central Bank of Brazil has also reacted to the exchange rate in Meirelles–Tombini's administration.

  17. Public Procurement Policy: Implications for Theory and Practice

    OpenAIRE

    Snider, Keith F; Rendon, Rene G.

    2008-01-01

    This paper proposes a conceptual framework for the study of public procurement policy. It reviews policy-related writings by public procurement scholars and assesses these works from the perspective of their contributions to generalized understandings of public procurement policy. Selected tools and concepts from the policy sciences are applied to propose a model to illuminate unique aspects of public procurement policy in ways that will facilitate its study. The paper concl...

  18. 12 CFR 1261.11 - Conflict-of-interests policy for Bank directors.

    Science.gov (United States)

    2010-01-01

    ... directors to administer the affairs of the Bank fairly and impartially and without discrimination in favor... the appearance of intending to influence the director's actions as a member of the board....

  19. The need to control international bank lending

    Directory of Open Access Journals (Sweden)

    G.A. KESSLER

    2013-12-01

    Full Text Available The work deals with the process of international bank lending and with the policy implications for monetary management. The author argues that foreign bank credit expansion has (or is likely to become an important monetary factor. The macro and micro aspects of the dynamics of the process of this expansion and the relation to the US balance of payments deficit are analysed. Some general remarks are made with respect to the need for intensified international monetary cooperation.

  20. Using Behavioral Economics to Analyze Credit Policies in the Banking Industry

    OpenAIRE

    David Peón; Anxo Calvo

    2012-01-01

    2008 world financial meltdown highlighted significant shortcomings on procedures used by the banking sector to provide credit to the real economy. A long period of indulgence granting personal loans and mortgages that boosted a credit bubble all over the world has been followed by an era of suspicion within the banking sector, precipitating the liquidity crunch and the credit squeeze to private agents. Behavioral Finance has emerged as an alternative approach to analyze efficiency on financia...

  1. Capital adequacy implications on Islamic and non-Islamic bank's behavior: Does market power matter?

    Directory of Open Access Journals (Sweden)

    Salma Louati

    2015-09-01

    Full Text Available After each crisis, reforms are carried out to prevent a new episode of financial crises. In this context, our objective in this study is to examine and simultaneously compare the behavior of Islamic and conventional banks in relation to the ratio of the capital adequacy in different competitive circumstances. We used data from 12 MENA and South East Asian countries characterized by the coexistence of Islamic and conventional banks. We concluded that the funding ratio has a significant impact on the behavior of 70 conventional banks and 47 Islamic banks. However, competitive conditions have no significant effect on the relationship between the weighted assets ratio and Islamic bank behavior, which means that this type of banks is applying theoretical models based on the prohibition of the interest.

  2. The Behaviour of Interest Groups in Trade and Industry towards Monetary Policy and Central Banks: theory and evidence on Germany and the Euro area

    NARCIS (Netherlands)

    S. Kern

    2005-01-01

    textabstractThe preceding analysis investigated private interest groups’ behaviour towards monetary policy makers and central banks, exploring the extent to which they seek to influence monetary policy and their motivations for doing so or not. Where evidence of interest group activity with respe

  3. Policies for teacher education and recommendations of the World Bank: interfaces with the current context of literacy teacher education in Brazil

    Directory of Open Access Journals (Sweden)

    Jani Alves da Silva Moreira

    2016-01-01

    Full Text Available The purpose of this paper is to analyze the recommendations of the World Bank and its relation to the policies of teacher education in Brazil, in order to identify the concordances between current policies for teacher education in the literacy context. This is a document analysis of theoretical and critical nature, which permitted to observe that current policies for teacher education are consistent with the recommendations of the World Bank. Such guidelines generate the allocation of responsibility to the teachers for the success or failure of school students, verified through external assessments and based on the assessed performance.

  4. THE USE OF ESTIMATED POLLUTION FLOWS IN AGRICULTURAL POLLUTION CONTROL POLICY: IMPLICATIONS FOR ABATEMENT AND POLICY INSTRUMENTS

    OpenAIRE

    Shortle, James S.

    1984-01-01

    Flows of water pollutants from agricultural sources are, for all practical purposes, unobservable by direct monitoring. These flows can, however, be estimated using hydrological models. The analysis presented in this paper demonstrates that uncertainty on estimated flows is not neutral with respect to the optimal level and allocation of estimated abatement or with respect to the expected net benefits of alternative pollution control policy instruments. Policy implications are noted.

  5. Long-term incentives plans as an instrument of executives’ compensation policy in public banks in Poland

    OpenAIRE

    Piotr Urbanek

    2014-01-01

    Long-term incentives plans (LTIPs) are one of the commonly used tools of top executive’s compensation policy in financial sector institutions. It is a solution which, in accordance with theses formulated on the basis of agency theory, can solve the agency problem and manage conflicts of interest between managers and shareholders. The experience of the recent financial crisis has shown that extensive use of this type of instruments in leading U.S. banks did not protect these institutions and t...

  6. The Implications of State Fiscal Policies for Community Colleges

    Science.gov (United States)

    Dowd, Alicia C.; Shieh, Linda Taing

    2014-01-01

    A variety of policies and practices, including those developed by local boards and administrations, as well as those mandated by state and federal governments, affect budgets and finances at community colleges. Examples include tuition policies, fee structures, performance-based funding, and personnel policies. This chapter explores some of the…

  7. Climate implications of including albedo effects in terrestrial carbon policy

    Science.gov (United States)

    Jones, A. D.; Collins, W.; Torn, M. S.; Calvin, K. V.

    2012-12-01

    change, 2) an increase in CO2 concentrations that exactly balances the forcing from land use change at the global level, and 3) a simulation combining the first two effects, resulting in net zero global-mean forcing as would occur in an idealized carbon cap-and-trade scheme that accounts for the albedo effect of land use change. The pattern of land use change that we examine is derived from an integrated assessment model that accounts for population, demographic, technological, and policy changes over the 21st century. We find significant differences in the pattern of climate change associated with each of these forcing scenarios, demonstrating the non-additivity of radiative forcing from land-use change and greenhouse gases in the context of a hypothetical scenario of future land use change. These results have implications for the development of land use and climate policies.

  8. Agricultural price and income policy in the EC : alternative policies and their implications

    NARCIS (Netherlands)

    Meester, G.

    1980-01-01

    Alternative forms of income policy without direct supply control. Alternative forms of income policy with direct supply control: quota arrangements. The influence of EC policy on the world market prices of agricultural produce

  9. Environmental Implications of Dynamic Policies on Food Consumption and Waste Handling in the European Union

    OpenAIRE

    Michael Martin; Lina Danielsson

    2016-01-01

    This study will review the environmental implications of dynamic policy objectives and instruments outlined in the European Union 7th Framework Programme (EU-FP7) Project DYNAmic policy MIXes for absolute decoupling of EU resource use from economic growth (DYNAMIX) to address reductions in food consumption, food waste and a change in waste handling systems. The environmental implications of reductions in protein intake, food waste reductions, food waste management and donations are addressed ...

  10. The Establishment of the Asian Infrastructure Investment Bank and Its Implications

    Institute of Scientific and Technical Information of China (English)

    Hou; Hongyu

    2015-01-01

    Ⅰ.The Background and Status of the Asian Infrastructure Investment Bank Chinese President Xi Jinping and Premier Li Keqiang announced the Asian Infrastructure Investment Bank(the AIIB)initiative during their respective visits to Southeast Asian countries in October 2013.The AIIB is envisaged to promote interconnectivity and

  11. Nonlinear Monetary Policy Rules: An Essay in the Comparative Study on Egyptian and Tunisian Central Banks

    Directory of Open Access Journals (Sweden)

    Yosra Baaziz

    2016-04-01

    Full Text Available The purpose of this paper is to evaluate the behavior of monetary authorities in Tunisia and Egypt, in response to changes in macroeconomic variables over time based on LSTR model. In this sense, we estimate Taylor-type equations for short-term interest rate in Tunisia and Egypt using quarterly data covering the period 1998.Q4–2013.Q2. We find strong evidence that the real decision-making process followed by these central banks varies from one central bank to another and that it exhibits nonlinear patterns that better capture special events and unexpected contingencies i.e., the terrorist attack in the US in September 2001, the global financial crisis in 2008, and the effect of political instability with the onset of the revolution. Additionally, the presence of asymmetries in the reaction function of the Tunisian and Egyptian Bank requires disconnection from their automatic pilot rules and use of judgement to make decisions.

  12. North Korea's nuclear weapons development. Implications for future policy

    International Nuclear Information System (INIS)

    This essay assesses North Korea's long-standing quest for nuclear weapons; alternative strategies for inhibiting Pyongyang's weapons development; and the potential implications for regional security and nonproliferation should the Democratic People's Republic of Korea (DPRK) retain and enhance its weapons programs. North Korea's pursuit of a nuclear weapons capability has long provoked heated debate among policy makers and research analysts about the purposes of engagement with the North, reflecting the repeated frustrations in efforts to negotiate Korean denuclearization. These debates reflect widely divergent views of the North Korean regime; its sustainability as an autonomous political, economic, and military system; and the potential consequences of continued nuclear development in this isolated, highly idiosyncratic state. These questions assume additional salience as North Korea approaches a leadership succession for only the second time in its six-decade history. The effort to inhibit North Korea's pursuit of nuclear weapons is among the longest running and least successful sagas in international security and non-proliferation policy of the past quarter century. In early 2010, Pyongyang claims a rudimentary nuclear capability by possession of weaponized plutonium, the conduct of two nuclear tests, and advances in the production of enriched uranium as an alternative means of fissile material production, though the latter step is nominally justified as a source for reactor fuel. North Korea defends its pursuit of a nuclear deterrent to counter what Pyongyang deems existential threats posed by the United States.Despite the resumption of high-level diplomatic contact between Washington and Pyongyang in late 2009, realization of a non-nuclear Korean Peninsula remains a very remote prospect. The DPRK insists that a peace agreement between the U.S. and North Korea and hence the cessation of 'hostile DPRK-U.S. relations' are necessary before any consideration of

  13. The EU Sugar Policy Regime and Implications of Reform

    OpenAIRE

    Elbehri, Aziz; Umstaetter, Johannes; Kelch, David R.

    2008-01-01

    The European Union’s sugar policy, in place since 1968, underwent its first major reform in 2005 in response to mounting and unsustainable imbalances in supply and demand. The reform, however, targeted only a few policy instruments (intervention price cut, voluntary production quota buyout, and restrictions on nonquota sugar exports), while leaving other key policies unchanged (interstate quota trading, sugar-substitute competition, and import barriers). Consequently, the extent of the reform...

  14. European integration and financial crisis: causes, implications and policy directions

    OpenAIRE

    Laurence Boone

    2010-01-01

    The financial crises which unfolded in the course of 2008 had a coincident impact on all countries, with an unprecedented contraction on real economies, In Europe, the crisis underlined two main issues: first, 10 years after the inception of the Euro, structural divergences persist across countries; second, European economic policy integration is mostly confined to monetary and competition policy. The crisis revealed how one-size-fits-all monetary policies could "nurture" structural divergenc...

  15. Equilibrium Implications of Fiscal Policy with Tax Evasion

    DEFF Research Database (Denmark)

    Busato, Francesco; Chiarini, Bruno; Rey, Guido M.

    This paper studies equilibrium effects of fiscal policy disturbances within a dynamic general equilibrium model where tax evasion and underground activities are explicitly incorporated. There are three mainresults. (i) The underground sector mitigates the distortionary impact of fiscal policies......, while lesseningthe drop (and the rise) of aggregate production after restrictive (expansionary) tax shocks. (ii) Taxevasion and underground economy can rationalize expansionary response to contractionary fiscal policies;(iii) A dynamic general equilibrium with tax evasion gives a rational justification...

  16. Global Warming: The Balance of Evidence and Its Policy Implications

    Directory of Open Access Journals (Sweden)

    Charles Keller

    2003-01-01

    Full Text Available Global warming and attendant climate change have been controversial for at least a decade. This is largely because of its societal implications. With the recent publication of the Third Assessment Report of the United Nations’ Intergovernmental Panel on Climate Change there has been renewed interest and controversy about how certain the scientific community is of its conclusions: that humans are influencing the climate and that global temperatures will continue to rise rapidly in this century. This review attempts to update what is known and in particular what advances have been made in the past 5 years or so. It does not attempt to be comprehensive. Rather it focuses on the most controversial issues, which are actually few in number. They are: 1-Is the surface temperature record accurate or is it biased by heat from cities, etc.? 2-Is that record significantly different from past warmings such as the Medieval Warming Period? 3-Is not the sun’s increasing activity the cause of most of the warming? 4-Can we model climate and predict its future, or is it just too complex and chaotic? 5-Are there any other changes in climate other than warming, and can they be attributed to the warming?Despite continued uncertainties, the review finds affirmative answers to these questions. Of particular interest are advances that seem to explain why satellites do not see as much warming as surface instruments, how we are getting a good idea of recent paleoclimates, and why the 20th century temperature record was so complex. It makes the point that in each area new information could come to light that would change our thinking on the quantitative magnitude and timing of anthropogenic warming, but it is unlikely to alter the basic conclusions.Finally, there is a very brief discussion of the societal policy response to the scientific message, and the author comments on his 2-year email discussions with many of the world’s most outspoken critics of the

  17. Explaining Policy Responses to Danish and Irish Banking Failures during the Financial Crisis

    DEFF Research Database (Denmark)

    Kluth, Michael Friederich; Lynggaard, Kennet

    2013-01-01

    ) variations in domestic exposure to the financial industry, notably its relative size, dominant business models and exposure to real estate markets and 2) variations in institutional features, notably banking sector preferences and legacies of collective action. While limited explanatory power can...

  18. Macroprudential Policy, Countercyclical Bank Capital Buffers and Credit Supply : Evidence from the Spanish Dynamic Provisioning Experiments

    NARCIS (Netherlands)

    Jiménez, G.; Ongena, S.; Peydro, J.L.; Saurina, J.

    2012-01-01

    Abstract: We analyze the impact of the countercyclical capital buffers held by banks on the supply of credit to firms and their subsequent performance. Countercyclical ‘dynamic’ provisioning that is unrelated to specific loan losses was introduced in Spain in 2000, and modified in 2005 and 2008. The

  19. Political pluralism, public policies and organizational strategic choices : Branch expansion in Indian banking, 1948 - 2003

    NARCIS (Netherlands)

    Kozhikode, R.K.; Li, J.T.

    2012-01-01

    Data on the expansion of 94 commercial banks in India from 1948 to 2003 were analyzed to test the proposition that political pluralism-wherein competing parties control the state and national governments of a nation-can promote business expansion. The results confirm that such political pluralism re

  20. Frictions, Persistence, and Central Bank Policy in an Experimental Dynamic Stochastic General Equilibrium Economy

    NARCIS (Netherlands)

    Noussair, C.N.; Pfajfar, D.; Zsiros, J.

    2011-01-01

    New Keynesian dynamic stochastic general equilibrium models are the principal paradigm currently employed for central bank policymaking. In this paper, we construct experimental economies, populated with human subjects, with the structure of a New Keynesian DSGE model. We give individuals monetary i

  1. Financial Market Turmoil: Implications for Monetary Policy Transmission in China

    Institute of Scientific and Technical Information of China (English)

    Chengsi Zhang; Joel Clovis

    2009-01-01

    The recent financial market turmoil has initiated another search for insightful understanding of the interactions between the financial market and monetary policy. This paper explores these interactions in terms of the transmission mechanism of monetary policy in China. We argue that evolving financial development, enhanced by the expansion of the financial market, has altered the conventional channel for monetary transmission in China. Analyzing marked changes in the financial landscape and taking into account policy regime shifts in China, the paper provides clear evidence showing that the financial market has become a new and important channel for transmission of monetury policy in China.

  2. Political economy constraints on carbon pricing policies: What are the implications for economic efficiency, environmental efficacy, and climate policy design?

    International Nuclear Information System (INIS)

    Economists traditionally view a Pigouvian fee on carbon dioxide and other greenhouse gas emissions, either via carbon taxes or emissions caps and permit trading (“cap-and-trade”), as the economically optimal or “first-best” policy to address climate change-related externalities. Yet several political economy factors can severely constrain the implementation of these carbon pricing policies, including opposition of industrial sectors with a concentration of assets that would lose considerable value under such policies; the collective action nature of climate mitigation efforts; principal agent failures; and a low willingness-to-pay for climate mitigation by citizens. Real-world implementations of carbon pricing policies can thus fall short of the economically optimal outcomes envisioned in theory. Consistent with the general theory of the second-best, the presence of binding political economy constraints opens a significant “opportunity space” for the design of creative climate policy instruments with superior political feasibility, economic efficiency, and environmental efficacy relative to the constrained implementation of carbon pricing policies. This paper presents theoretical political economy frameworks relevant to climate policy design and provides corroborating evidence from the United States context. It concludes with a series of implications for climate policy making and argues for the creative pursuit of a mix of second-best policy instruments. - Highlights: • Political economy constraints can bind carbon pricing policies. • These constraints can prevent implementation of theoretically optimal carbon prices. • U.S. household willingness-to-pay for climate policy likely falls in the range of $80–$200 per year. • U.S. carbon prices may be politically constrained to as low as $2–$8 per ton of CO2. • An opportunity space exists for improvements in climate policy design and outcomes

  3. The Policy Implications of Internet Connectivity in Public Libraries

    Science.gov (United States)

    Jaeger, Paul T.; Bertot, John Carlo; McClure, Charles R.; Langa, Lesley A.

    2006-01-01

    The provision of public Internet access and related networked services by public libraries is affected by a number of information policy issues. This article analyzes the policy dimensions of Internet connectivity in public libraries in light of the data and findings from a national survey of public libraries conducted by the authors of this…

  4. Education Policies: Potential Impacts and Implications in Australia and Beyond

    Science.gov (United States)

    Jones, Tiffany

    2016-01-01

    Australian education is delivered through government and independent systems. This article discusses how education policies on gay, lesbian, bisexual, transgender, intersex, and queer students in these different sectors have affected school climates. It describes how previously published policy analysis and survey data on Australian gay, lesbian,…

  5. THE INDONESIAN BANK CRISIS AND RESTRUCTURING: LESSONS AND IMPLICATIONS FOR OTHER DEVELOPING COUNTRIES

    OpenAIRE

    Pangestu, Mari

    2003-01-01

    Drawing on the Indonesian experience in 1997, this paper demonstrates the complexity of managing banking crises deals. It aims at deriving conclusions from this experience for other developing countries facing similar problems. The paper also refers to comparative experiences of other countries, in particular Malaysia and Thailand, examines the IMF programme and reveals its shortcomings. The key question is to what extent the ineffectiveness and slow progress of bank restructuring, corporate ...

  6. World bank's role in the electric power sector: Policies for effective institutional, regulatory, and financial reform. World Bank policy paper. Funcion del banco mundial en el sector de la electricidad: politicas para efectuar una reforma institucional, regulatoria y financiera eficaz

    Energy Technology Data Exchange (ETDEWEB)

    1993-01-01

    The paper outlines the World Bank's new policies for the energy sector. It recommends several new policies to improve the performance of the electric power sector in developing countries. Bank loans for electric power will go first to countries clearly committed to improving the performance of their power sectors. The Bank will also discourage subsidies on energy prices and will encourage private investment in utilities. And it will provide financing to help the least developed countries import power where local generation is not practical.

  7. The Problem Trap: Implications of Policy Archaeology Methodology for Anti-Bullying Policies

    Science.gov (United States)

    Walton, Gerald

    2010-01-01

    James Scheurich argues that practices of policy--normalized over time through repetition--serve three purposes. They structure social problems for which policy is designed to address; construct certain people, implicitly or explicitly, as problem individuals; and shape policy solutions. Following Foucault, he offers what he calls Policy…

  8. EU environmental state aid policy: wide implications, narrow participation?

    Energy Technology Data Exchange (ETDEWEB)

    Flaam, Karoline

    2008-11-15

    This article investigates the 2008 reform of the EU's environmental state aid guidelines, with an eye to determining the degree of external pressure and lobbyism towards environmental state aid policies. What is found is a strikingly low level of external pressure on the policy-field, not least on the part of the private sector. In fact, EU environmental state aid policy is largely the making of a few Commission officials, without much external 'interference'. The article discusses possible reasons for this, and asks whether state aid policy-making might be marked less by clear and established interests and utility maximising, and more by actors constrained by complexity and bounded rationality. (author). refs.,tab

  9. AGRICULTURAL INDUSTRIALIZATION: IMPLICATIONS FOR ECONOMIC DEVELOPMENT AND PUBLIC POLICY

    OpenAIRE

    Drabenstott, Mark

    1995-01-01

    Industrialization is rapidly becoming a topic of great attention. Driven by fundamental economic forces, industrialization seems likely to advance ore quickly in the coming decade to more industry segments. By changing the way agriculture does business, industrialization will also bring change to public policy and agricultural institutions. Commodity policy will increasingly be out of step with a product-oriented industry. And as industrialization blurs the lines between producers and process...

  10. The industry effects of monetary policy and their welfare implications

    OpenAIRE

    Ivo J.M. Arnold

    2013-01-01

    Economic theory provides at least two explanations for differential regional effects of a common monetary policy. The traditional money view focuses on regional differences in industry mix. Alternatively, the more recent credit view emphasizes differences in financial structure. This paper aims to make two contributions. First, building on the work by Carlino and DeFina (1998), I estimate impulse responses of sector earnings to monetary policy shocks for regions of the United States. An analy...

  11. Philippine Rice Supply and Demand: Prospects and Policy Implications

    OpenAIRE

    David, Cristina C.; Balisacan, Arsenio M.

    1995-01-01

    Over the past three decades, the level and nature of government interventions and the relative importance of policy objectives have changed in response to changes in the domestic rice demand and supply factors. This paper analyzes the changes in the Philippine rice economy during the period and evaluates the policy options in light of the prospective rice supply and demand situation over the next decade and beyond.

  12. Deposit Insurance and Bank Liquidity: Does Ownership Structure Matter?

    Directory of Open Access Journals (Sweden)

    Irwan Trinugroho

    2016-07-01

    Full Text Available We examine how the level deposit insurance coverage affects bank liquidity. We also test the role of ownership in the relationship between deposit insurance coverage and bank liquidity. This study uses quarterly data of Indonesian banks from Q1:2002 - Q2:2008. We argue that the presence of explicit deposit insurance changes a bank‘s behavior in liquidity management in the form of decreasing asset liquidity. We find some evidence on the negative impact of deposit insurance coverage on bank liquidity. However, little is found on the role of ownership structure. The credibility of deposit insurance system and implicit guarantee are the main policy implications.

  13. Monetary and Fiscal Policy Interaction and the Relationship between the Central Bank and the Government. (The Case of Republic of Moldova

    Directory of Open Access Journals (Sweden)

    Corina Chironachi

    2015-08-01

    Full Text Available In this paper the author is analyzing the impact of fiscal and monetary policies on the dynamics of the exchange rate, inflation and other macroeconomic variables. The author investigates the forms of strategic interaction between the Government and the Central Bank in designing and implementing these policies. As a result, the author concludes the necessity of institutions cooperation in the development and implementation of monetary and fiscal policy measures, but also concluded that the responsible institutions must remain independent in achieving an efficient monetary and fiscal policy of the Republic of Moldova.

  14. From doves to hawks: a spatial analysis of voting in the Monetary Policy Committee of the Bank of England, 1997-2007

    OpenAIRE

    Hix, Simon; Hoyland, Bjorn; Vivyan, Nick

    2007-01-01

    This paper examines the making of UK monetary policy between 1997 and 2007 using an analysis of voting behaviour in the Bank of England’s Monetary Policy Committee (MPC). We use a Bayesian method to estimate the interest rate policy preferences of the MPC members on a ‘dove-hawk’ scale. Then, by comparing the ‘ideal points’ of outgoing members with their successors, we find evidence that MPC composition complements the fiscal policies pursued by the government. The revealed preferences of the...

  15. 货币政策传导中的微观银行作用与机制%The Role of Banks in the Monetary Policy Transmission Mechanism

    Institute of Scientific and Technical Information of China (English)

    汪明进

    2014-01-01

    The traditional monetary viewpoints ignore the roles and functions of bank intermediation,however,the credit viewpoints such as bank lending channel,etc.,emphasize that monetary policy can influence investment and output through affecting credit supply of bank intermediation.Banks with different balance sheet characteristics have obviously different behavior response to mo-netary policy,resulting in the distributional effects of monetary policy of different types of banks.In consideration of the balance char-acteristics and roles and functions of micro banking in the transmission mechanism of monetary policy,the paper compares and analyzes the possible econometric test methods and their construction principles of monetary policy transmission mechanism.%传统货币观撇开微观银行中介的作用,而银行借贷渠道、资产负债表渠道和银行资本渠道等信贷渠道观则强调货币政策通过银行信贷供给对投资和产出的间接影响,且认为具有不同资产负债表特征的银行对货币政策的反应不同,从而导致货币政策在不同类型银行间具有分布效应。结合微观银行的资产负债表特征及其在货币政策传导中的角色与功能、货币政策扩散机制的可能检验途径及其构造原理,认为银行的资本结构及其内在管理也应被纳入货币政策的决策框架。

  16. Bank Capital Regulation, Asset Price and Optimal Monetary Policy%银行资本监管、资产价格与最优货币政策

    Institute of Scientific and Technical Information of China (English)

    王晓芳; 毛彦军

    2012-01-01

    The paper establishes a macro economic model including bank capital regulation, banking sectors and an inefficient capital market, and studies the relationship among bank capital regulation, asset price and the optimal monetary policy. The conclusion shows that bank capital regulation places significant influence on the choice of the optimal monetary policy and asset price of the monetary policy. Facing two banking systems of adequate and inadequate capital, the response of the central bank's optimal monetary policy to inflation and asset price is quite different. Especially when the banking system is constrained by capital regulation, the response of optimal monetary policy to asset price volatility should be more positive when the capital was adequate.%本文构建一个包括银行资本监管、银行部门以及一个非有效资本市场的宏观经济模型,研究了银行资本监管、资产价格和最优货币政策之间的关系。结论表明,银行资本监管对最优货币政策的选择以及货币政策的资产价格效应均产生了显著影响。面对资本充足和资本不足两种银行体系,央行的最优货币政策对通胀和资产价格的反应程度明显不同。特别是当银行体系受资本监管约束时,最优货币政策对资产价格波动的反应比在资本充足情形下更加积极。

  17. Macroeconomic policy interaction: State dependency and implications for financial stability in UK: A systemic review

    Directory of Open Access Journals (Sweden)

    Muhammad Ali Nasir

    2016-12-01

    Full Text Available The association between economic and financial stabilities and influence of macroeconomic policies on the financial sector creates scope of active policy role in financial stability. As a contribution to the existing body of knowledge, this study has analysed the implications of macroeconomic policy interaction/coordination for financial stability, proxied by financial assets, i.e. equity and bonds price oscillation. The critical review and analysis of the existing literature on the subject suggests that there is also ample evidence of interdependence between monetary and fiscal policies and this interrelation necessitates coordination between them for the sake of financial stability. There is also a case for analysing the symmetry of financial markets responses to macroeconomic policy interaction. On methodological and empirical grounds, it is vital to test the robustness of policy recommendations to overcome the limitation of a single empirical approach (Jeffrey–Lindley’s paradox. Hence, the Frequentist and Bayesian approaches should be used in commentary manner. The policy interaction and optimal policy combination should also be analysed in the context of institutional design and major financial events to gain insight into the implications of policy interaction in the periods of stable economic and financial environments as well as period of financial and economic distress.

  18. Evolutions in food marketing, quantifying the impact, and policy implications.

    Science.gov (United States)

    Cairns, Georgina

    2013-03-01

    A case study on interactive digital marketing examined the adequacy of extant policy controls and their underpinning paradigms to constrain the effects of this rapidly emerging practice. Findings were interactive digital marketing is expanding the strategies available to promote products, brands and consumer behaviours. It facilitates relational marketing; the collection of personal data for marketing; integration of the marketing mix, and provides a platform for consumers to engage in the co-creation of marketing communications. The paradigmatic logic of current policies to constrain youth-oriented food marketing does not address the interactive nature of digital marketing. The evidence base on the effects of HFSS marketing and policy interventions is based on conceptualizations of marketing as a force promoting transactions rather than interactions. Digital technologies are generating rich consumer data. Interactive digital technologies increase the complexity of the task of quantifying the impact of marketing. The rapidity of its uptake also increases urgency of need to identify appropriate effects measures. Independent analysis of commercial consumer data (appropriately transformed to protect commercial confidentiality and personal privacy) would provide evidence sources for policy on the impacts of commercial food and beverage marketing and policy controls. PMID:22858428

  19. Evolutions in food marketing, quantifying the impact, and policy implications.

    Science.gov (United States)

    Cairns, Georgina

    2013-03-01

    A case study on interactive digital marketing examined the adequacy of extant policy controls and their underpinning paradigms to constrain the effects of this rapidly emerging practice. Findings were interactive digital marketing is expanding the strategies available to promote products, brands and consumer behaviours. It facilitates relational marketing; the collection of personal data for marketing; integration of the marketing mix, and provides a platform for consumers to engage in the co-creation of marketing communications. The paradigmatic logic of current policies to constrain youth-oriented food marketing does not address the interactive nature of digital marketing. The evidence base on the effects of HFSS marketing and policy interventions is based on conceptualizations of marketing as a force promoting transactions rather than interactions. Digital technologies are generating rich consumer data. Interactive digital technologies increase the complexity of the task of quantifying the impact of marketing. The rapidity of its uptake also increases urgency of need to identify appropriate effects measures. Independent analysis of commercial consumer data (appropriately transformed to protect commercial confidentiality and personal privacy) would provide evidence sources for policy on the impacts of commercial food and beverage marketing and policy controls.

  20. Interest Rate Spreads and Mandatory Credit Allocations: Implications on Banks Loans to Small Businesses in Indonesia

    OpenAIRE

    Reza Siregar

    2004-01-01

    Recent studies have consistently shown that the East-Asian crisis-stricken countries have suffered from different degrees of credit crunch, particularly during the early stages of the crisis. However, only few of them have looked closely into the breakdowns of the loans and the roles of different groups of banks in explaining the rise and fall of bank lending, particularly to the small businesses during the post-1997 financial crisis. This paper aims to fill this void by looking at closely th...

  1. The Policies of the IMF and the World Bank and the Rights of Peoples

    OpenAIRE

    Antoni Pigrau Solé

    1995-01-01

    50 years after the holding of the Bretton Woods Conference which gave way to the creation of the International Monetary Fund (IMF) and the World Bank (WB), it would seem appropriate to evaluate their track record in the light of International Law and the Rights of peoples. The enormous impact that the activities of both organisms have had and still have on the living conditions of millions of people throughout the world make such an evaluation necessary.Through an analysis of the juridical na...

  2. Bank rescues and fiscal policy in the European Union during the great recession

    Directory of Open Access Journals (Sweden)

    Ferreiro Jesús

    2016-01-01

    Full Text Available The outbreak of the economic and financial crisis in 2008, the socalled Great Recession, has made that many European Union countries have made massive interventions in their banking and financial systems. These interventions have had a considerable impact in the public finances of these countries. The aim of the paper is to analyze the impact on the national public budgets of the measures of public support to problem financial institutions carried out between the years 2008 and 2013, and to study how this budgetary impact has affected to the fiscal imbalances and to the strategies of fiscal impulse and consolidation implemented along these years.

  3. Contaminants in Sludge: Implications for Management Policies and Land Application

    Energy Technology Data Exchange (ETDEWEB)

    Dentel, Steven K.

    2003-07-01

    Policies on sludge (or biosolids) management vary widely, particularly when decisions must be made on what to do with the final product. This paper examines the two principal rationales with which such decisions are made, and through which scientific knowledge is included in the process. These rationales are risk analysis (risk assessment and management), and the criterion of sustainability. Both are found to be potentially arbitrary due to the difficulty in defining the individual constituents necessary to relate environmental phenomena to environmental policy. To place the difficulties in a practical context, this paper presents research results from three recent projects concerned with contaminants in sludge (phosphorus, flocculant polymers, and polymer-surfactant aggregates), and uses the findings to exemplify the dilemma encountered in policy making. A path forward is proposed. (author)

  4. Outsourcing central banking

    DEFF Research Database (Denmark)

    Khoury, Sarkis Joseph; Wihlborg, Clas

    2005-01-01

    The literature on Currency Boards (CB) stops at the water edge in terms of dealing with the totality of the functions of a central bank. Monetary policy, and banking supervisioncan be "outsourced" in an open economy with substantial foreign direct investment (FDI)in the banking sector if political...... the feasibility of, and constraints on, outsourcing of central bank functions. A brief discussion of the Argentinian experience is used for contrast.Key words: Currency Board, Foreign Banks, Supervision, Regional Integration,outsourcing....

  5. Industrial clusters in the Finnish economy. Strategies and policy implications

    International Nuclear Information System (INIS)

    Technology is currently the most important determinant of the long-term economic growth as it explains for at least half of the growth of the industrialised nations. Economists have demonstrated that R and D performed by the innovating company generates widespread value in the economy through technology diffusion. The objective of the private financing is, however, to increase the value of the innovating company and the spillovers to other companies are there not so important. The market failure created by the R and D spillovers is thus one of the main justifications for government policies. The advancement of spillovers by government's actions can be called cluster policy. The objective of this study is to produce knowledge to support decision making in the realisation of an efficient cluster-oriented technology policy. The Finnish industrial clusters are identified by a quantitative value chain analysis, and their economic profiles are analysed. Also, a solid framework is presented that describes how to evaluate the economic impacts of a R and D project from the cluster policy point of view. The clusters should be seen as a technology policy tools, by which the domestic industrial structures can be analysed and developed. In this kind of decision making it is important to understand the mechanisms of technology diffusion. Concrete technology policy occurs in the selection of the publicly financed R and D projects. In the selection of the supported-projects it is crucial to evaluate the economic impacts of project proposals in advance. That is why economic indicators like measures of spillovers are needed The governments should fund R and D projects that have the highest social rate of return and would otherwise be underfunded or delayed. (orig.)

  6. SECURITY IMPLICATIONS OF RUSSIAN FEDERATION ENERGY POLICY IN CENTRAL ASIA

    Directory of Open Access Journals (Sweden)

    Aneta NOWAKOWSKA-KRYSTMAN

    2015-04-01

    Full Text Available The importance of Central Asia region in energy market creates certain approach of Russian Federation. It infl uences not only situation in the region but also short and long term prospects of economic development of adjacent regions, i.e. North, East and South Asia, the Middle East and Europe. Russian economic policy determines and defi nes certain forms of international cooperation, which, in turn, results in its importance for international political relations. The article points out the essence of Russian Federation policy towards Central Asia and adjacent regions which consists in conducting geo-economic activities determining geo-political activities.

  7. Chinese Foreign Policy in Transition: Trends and Implications

    Directory of Open Access Journals (Sweden)

    Baohui Zhang

    2010-01-01

    Full Text Available Chinese foreign policy has been transformed in recent years. This article seeks to provide a systematic analysis of the most salient features of the new Chinese foreign policy. It identifies five such features. Based on these features, the article suggests that China is poised to become a true global power. This view differs significantly from Gerald Segal’s famous claim in 1999 that China was no more than a middle power. The article utilizes many current Chinese sources to help readers understand China’s new motives and goals in international and regional affairs.

  8. Water pricing policies, public decision making and farmers' response: implications for water policy

    OpenAIRE

    Varela-Ortega, Consuelo; Sumpsi, Jose M.; Garrido, Alberto; Blanco, Maria; Iglesias, Eva

    1998-01-01

    The problems caused by water scarcity demand important changes in the criteria and objectives of water policies. The agricultural sector in Spain consumes up to 80% of all available hydric resources and the need to increase the efficiency of current uses of water in the agricultural sector is at the core of the country's national water policy. One alternative would be to resort to water pricing policies with the aim of providing incentives to save water consumption although it would inflict a...

  9. The accelarating integration of banks and markets and its implications for regulation

    NARCIS (Netherlands)

    A.W.A. Boot; A.V. Thakor

    2010-01-01

    The banking landscape is in flux. Financial institutions and markets have become deeply intertwined and competitive pressures have intensified. Stability issues have become paramount, aptly illustrated by the credit crisis of 2007-2009. In this paper we review the existing literature to analyze the

  10. The accelerating integration of banks and markets and its implications for regulation

    NARCIS (Netherlands)

    A.W.A. Boot; A.V. Thakor

    2010-01-01

    The banking landscape is in flux. Financial institutions and markets have become deeply intertwined and competitive pressures have intensified. Stability issues have become paramount, aptly illustrated by the credit crisis of 2007-2009. In this paper we review the existing literature to analyze the

  11. Implications of the Operational Risk Practices Applied in the Banking Sector on the Information Systems Area

    OpenAIRE

    Pavel NASTASE; Simona Felicia UNCHIASU

    2013-01-01

    In financial services organizations, the degree of automation is usually high, while the human intervention low. Banks depend on information technology and information management, complex infrastructure and applications, thus controls are required to support the business processes. Furthermore, the information used by financial institution is often entirely IT generated, managed and controlled, therefore the confidentiality, availability and reliability of financial information is crucial. As...

  12. Philippine Rice Supply Demand: Prospects and Policy Implications

    OpenAIRE

    David, Cristina C.; Balisacan, Arsenio M.

    1995-01-01

    This paper analyzes the changes in the Philippine rice economy during the past three and a half decades and evaluates the policy options in light of the prospective rice supply and demand situation over the next decade and beyond. The changing nature and trends in rice production, trade and consumption are presented here. Projections of demand, supply and trade gap are provided as well.

  13. The Economics of Wind Power in China and Policy Implications

    Directory of Open Access Journals (Sweden)

    Zifa Liu

    2015-02-01

    Full Text Available In 2009, the implementation of feed-in tariff (FIT and attractive public subsidies for onshore wind farms aroused great investment enthusiasm and spurred remarkable development of wind power in China. Meanwhile, rapid learning-by-doing has significantly cut down the cost of wind turbines and the capital cost of wind farms as well. Therefore, it is the right time to examine the appropriateness of the existing FIT policy for wind power in China. In this paper, we employ the analytical framework for levelized cost of electricity (LCOE to model the generation cost of wind power. Results show that the existing FIT policy is attractive to investors, but serious curtailment and turbine quality issues could make wind power unprofitable. Meanwhile, rapid substantial decreases in the cost of wind power have made it competitive to coal power in 2013, implying that it is possible and necessary to reform the FIT policy for new wind farms. In the future, energy policies for onshore wind power in China could be concentrated on reducing the integration cost, so as to reduce the overall system cost.

  14. Rehabilitation Policy and Practice in Romania: Implications for Training

    Science.gov (United States)

    Rak, Eniko C.

    2007-01-01

    This article provides a comprehensive account of the Romanian rehabilitation service delivery system. After a short presentation of disability issues during communism, the article shifts focus to a detailed review of current advancements in disability policy and legislation, prevalence, diagnosis, service delivery system and procedures, and…

  15. Chimeras, moral status, and public policy: implications of the abortion debate for public policy on human/nonhuman chimera research.

    Science.gov (United States)

    Streiffer, Robert

    2010-01-01

    Researchers are increasingly interested in creating chimeras by transplanting human embryonic stem cells (hESCs) into animals early in development. One concern is that such research could confer upon an animal the moral status of a normal human adult but then impermissibly fail to accord it the protections it merits in virtue of its enhanced moral status. Understanding the public policy implications of this ethical conclusion, though, is complicated by the fact that claims about moral status cannot play an unfettered role in public policy. Arguments like those employed in the abortion debate for the conclusion that abortion should be legally permissible even if abortion is not morally permissible also support, to a more limited degree, a liberal policy on hESC research involving the creation of chimeras.

  16. Chimeras, moral status, and public policy: implications of the abortion debate for public policy on human/nonhuman chimera research.

    Science.gov (United States)

    Streiffer, Robert

    2010-01-01

    Researchers are increasingly interested in creating chimeras by transplanting human embryonic stem cells (hESCs) into animals early in development. One concern is that such research could confer upon an animal the moral status of a normal human adult but then impermissibly fail to accord it the protections it merits in virtue of its enhanced moral status. Understanding the public policy implications of this ethical conclusion, though, is complicated by the fact that claims about moral status cannot play an unfettered role in public policy. Arguments like those employed in the abortion debate for the conclusion that abortion should be legally permissible even if abortion is not morally permissible also support, to a more limited degree, a liberal policy on hESC research involving the creation of chimeras. PMID:20579247

  17. Foreign Policy Implication by Bush and Obama Administration towards Middle East

    OpenAIRE

    Uddin, S. M. Anowar; Mariera, John Omonywa

    2009-01-01

    The rationale of this paper is to analyze and assess the implication of foreign policy towards Middle East after September 11. Confrontational and co operational approaches adopted by the former and current U.S presidents Bush and Obama respectively, it is critical for all to understand that either way, the role the United States has played and will play cannot be underrated. Both approached seems to attract negative and positive implications both at home and in the Middle East. How the forei...

  18. Implications of WTO Tariff Reductions for EU and US Dairy Policy

    OpenAIRE

    Pajic, Mirjana; Blandford, David; Bailey, Kenneth W.

    2009-01-01

    The objective of this study is to measure the impact of proposed Doha Round tariff reductions on the global dairy industry and dairy policy. We examine how proposed tariff reductions affect global trade and prices, and the implications for the European Union and the United States. Since international market conditions can vary, we examine the implications of liberalization under two sets of market conditions. The first corresponds to the year 2004 in which there was a global surplus of dairy ...

  19. Public policies for basic education and its implications for the teaching of music

    OpenAIRE

    Luis Ricardo Silva Queiroz; Maura Penna

    2012-01-01

    Current educational policies in the country and the new definitions for the teaching of music in school, established from the law 11.768/2008, have made important issues concerning the area of music education today emerge . Considering this reality, this study analyzes public policies related to basic education in Brazil,reflecting on their implications for the teaching of music in school. The discussions presented in the text are based on literature and documental sources related to programs...

  20. Advertising in a differentiated duopoly and its policy implications for an open economy

    OpenAIRE

    Ma, Jie; Ulph, Alistair

    2004-01-01

    In this paper, we develop a model of advertising in a differentiated duopoly in which firms first decide how much to invest in cooperative or predatory advertising and then engage in product market competition (Cournot or Bertrand). We then use this model, with endogenously determined type of advertising, to explore the policy implications in the context of a Brander-Spencer third-country model of strategic trade. We first analyse optimal policies when governments use both trade and industria...

  1. The Influence of China's Shadow Banking on the Stability of the Banking System and Monetary Policy%中国影子银行对银行系统稳定性和货币政策的影响

    Institute of Scientific and Technical Information of China (English)

    陈青青; 张长全

    2016-01-01

    影子银行对经济增长有一定的促进作用,却也隐含着巨大的风险. 所以近年来影子银行系统规模的飞速扩张越来越为更多人关注. 选取2006年1月至2014年12月的月度数据建立VAR模型,利用ADF检验、Granger因果关系检验、脉冲响应和方差分解等方法实证分析了中国影子银行对银行系统稳定性和货币政策的影响. 经研究发现影子银行对货币政策的中介目标、最终目标和传导机制都产生了不同程度的干扰和冲击,削弱了货币政策的政策执行效果,还造成银行系统稳定性的波动. 针对分析结果建议加强监管、完善立法,改革货币政策工具,筑建银行系统稳定预警机制.%Shadow banking has a certain role in promoting economic growth, but it also implies a huge risk.So more and more people pay attention to the shadow banking system which has rapid expansion of the scale in recent years.In this paper, the author selected the monthly data from January 2006 to December 2014 to establish the VAR model, using ADF test, Granger causality test, impulse response and variance decomposition to analyze the impact of China's shadow banking on banking system stability and mone-tary policy.The study found that the intermediary goal of monetary policy, the ultimate goal and the transmission mechanism have had varying degrees of interference.And the shadow banking not only weakened the monetary policy implementation effect, but also caused the instability of the banking system.We suggested that the government should strengthen supervision, improve legislation, reform of monetary policy tools and build an early warning mechanism for the stability of banking system based on the results.

  2. The policy implications of the different interpretations of the cost-effectiveness of renewable electricity support

    International Nuclear Information System (INIS)

    The cost-effectiveness of support for renewable electricity is a main criterion to assess the success of policy instruments, together with effectiveness. The costs of support are also a source of significant concern for governments all over the world. However, significant confusion exists in the literature on the cost-effectiveness of public support for renewable electricity. While some authors define the concept of cost-effectiveness as that which complies with the equimarginality principle, many others, including documents from relevant organisations (European Commission, International Energy Agency, Intergovernmental Panel on Climate Change) define it as “the lowest costs of support”, generally equating it with the minimisation of consumer costs. The aim of this paper is to clarify the differences between both approaches and their policy implications regarding the choice of instruments and design elements. It is shown that they partly overlap and that their policy implications clearly differ, leading to very different policy prescriptions. While the former favours technology neutral instruments and design elements, the “minimisation of consumer costs” approach favours instruments and design elements which adjust support levels to the costs of the technologies. - Highlights: • Significant confusion exists in the literature on the cost-effectiveness of public support for renewable electricity. • Clarify the differences between two main approaches to cost-effectiveness. • Policy implications clearly differ, leading to very different policy prescriptions

  3. Money, the Banking System and Monetary Policy in Canada: A Teaching Unit.

    Science.gov (United States)

    Curtis, Douglas C. A.; Staunton, Ted, Ed.

    One of a series of teaching units designed to introduce secondary school students to the Canadian economy, this handbook contains instructional materials on Canada's monetary system and policy. Material is organized and presented in terms of specific topic readings and illustrative activities. The topics covered in six sections are money, the…

  4. Essays in nonlinear dynamics in economics and econometrics with applications to monetary policy and banking

    NARCIS (Netherlands)

    M. Wolski

    2014-01-01

    This thesis explores the highly nonlinear profile of the modern financial world and assesses its relevance in monetary policy conduct and macroprudential supervision. It focuses on three possible different origins of nonlinear structures. Firstly, we study the role of the heterogeneous and boundedly

  5. Obesity Trends, Determinants and Policy Implications in Indonesia

    OpenAIRE

    Roemling, Cornelia; Qaim, Matin

    2012-01-01

    Obesity is becoming a serious issue in many developing countries, with negative implications for economic growth and human wellbeing. While previous micro level studies on obesity have mostly used cross-section data, we analyze trends and determinants with panel data from Indonesia. Over the past 20 years, obesity has increased remarkably in Indonesia across all population groups, including rural and low income strata. The problem is particularly severe among women. Panel regressions confirm ...

  6. Post unified Korean foreign policy options : regional implications

    OpenAIRE

    DeJong, Laura S.

    2002-01-01

    Approved for public release, distribution is unlimited Following the prospective unification of Korea, presumably under Seoul's guidance, the government would face the choice between policies of alignment and nonalignment with each major Pacific power. This choice will be influenced by historical predispositions, the path of reunification, Korea's domestic situation, and its relations with each power. As long as the present North Korean threat continues to plague the political and security...

  7. Science - Society Relations Enhancement: Policy Implications and Some Scientometric Evidences

    OpenAIRE

    L. Ivancheva

    2013-01-01

    The paper considers the significant transformations in the social dimensions of science in last decades. It is argued that science is no more “productive force” only, but it becomes a powerful factor for economic growth, enhancement of quality of life and social prosperity. Another tendency is the enhanced science-policy interactions, as well as the growing role of knowledge transfer and research ethics. New concepts, related to the increasing importance of the social functions of science, ha...

  8. The Economic Value of Personal Information and Policy Implication

    OpenAIRE

    Kim, Jiin; Nam, Changi; Kim, Seongcheol

    2015-01-01

    Personal information is essential in an information-oriented society for societal development and as a valuable business resource. However, because of poor management and a lack of proper protection, leakage of personal information can take place over time, and the standard for compensation is not well established. In order to establish appropriate policies for its protection, we need to know the economic value of personal information. Using conjoint analysis, we analyze the potential value o...

  9. Learning by Lending, Competition, and Screening Incentives in the Banking Industry

    OpenAIRE

    Giovanni, de, C.; Ariccia#x2019

    2000-01-01

    This paper shows that banks may have an incentive to reduce screening when the proportion of untested borrowers on the market increases, leading to a deterioration of their portfolios and a contraction of their profits. The paper addresses the issue in the context of a simple model where banks compete solely on screening and in a more complex model where banks compete by offering borrowers a menu of contracts. The results have policy implications with regard to financial liberalization, lendi...

  10. Mexico's petroleum and US policy: implications for the 1980s

    Energy Technology Data Exchange (ETDEWEB)

    Ronfeldt, D.; Nehring, R.; Gandara, A.

    1980-06-01

    This report examines selected factor affecting Mexico's future petroleum policies, and then assesses various implications of Mexico's petroleum for US interests and policies. After a brief introduction, the report is divided into three sections. The first offers a detailed analysis of Mexico's petroleum resources and production possibilities. The second considers petroleum as a symbolic issue of profound significance for Mexican nationalism. The final section provides an assessment of these and other factors for US interests, objectives, and policy options during the 1980s.

  11. Development of a sperm cryopreservation protocol for redside dace, Clinostomus elongatus: implications for genome resource banking

    DEFF Research Database (Denmark)

    Butts, Ian A.E.; Mokdad, A.; Trippel, E.A.;

    2013-01-01

    Populations of Redside Dace Clinostomus elongatus have declined in many areas across the species’North American range. Therefore, the development of sperm cryopreservation technology would provide an invaluable means of preserving genetic diversity in populations that are in imminent danger of ex...... findings demonstrate that cryopreservation of Redside Dace sperm in a sucrose + DMSO extender at a freezing rate of 10◦C/min is adequate for preserving genetic diversity via sperm banks...

  12. Grazing impact on desert plants and soil seed banks: Implications for seed-eating animals

    Science.gov (United States)

    Pol, Rodrigo G.; Sagario, M. Cecilia; Marone, Luis

    2014-02-01

    We assess whether the knowledge of livestock diet helps to link grazing effects with changes in plant cover and soil seed bank size, aiming at inferring the consequences of grazing on seed-eating animals. Specifically, we test whether continuous and heavy grazing reduce the cover, number of reproductive structures and seed reserves of the same grass species whose seeds are selected and preferred by granivorous animals in the central Monte desert, Argentina. Grass cover and the number of grass spikes usually diminished under grazing conditions in the two localities studied (Telteca and Ñacuñán), and soil seed bank was consistently reduced in all three years evaluated owing to a decline of perennial grass and forb seeds. In particular, the abundance of those seeds selected and preferred by birds and ants (in all cases grass species) declined 70-92% in Ñacuñán, and 52-72% in Telteca. Reduction of perennial grass cover and spike number in grazed sites reinforced the causal link between livestock grazing and the decline of grass soil seed reserves throughout failed plant reproduction. Grass seed bank depletion suggests that grazing may trigger a "cascade" of mechanisms that affect the abundance and persistence of valuable fodder species as well as the availability of seed resources for granivorous animals.

  13. TRASITION MEASURES OR TAX POLICY AND ADMINISTRATION: THE WEST BANK AND GAZA STRIP

    OpenAIRE

    Robert Conrad; Glenn Jenkins; James Owens

    1994-01-01

    Recommendations and discussions of the current situation regarding taxation are found in this report: In particular, we believe Palestinian authorities should begin to administer the current system and stabilize tax revenues prior to making significant tax policy changes. We are pleased and support the Palestinian Authority’s efforts to implement many of the IMF recommendations including the continued use of the Israeli tax information system during the transition, the beginning of a public e...

  14. Potentials and policy implications of energy and material efficiency improvement

    Energy Technology Data Exchange (ETDEWEB)

    Worrell, Ernst; Levine, Mark; Price, Lynn; Martin, Nathan; van den Broek, Richard; Block, Kornelis

    1997-01-01

    There is a growing awareness of the serious problems associated with the provision of sufficient energy to meet human needs and to fuel economic growth world-wide. This has pointed to the need for energy and material efficiency, which would reduce air, water and thermal pollution, as well as waste production. Increasing energy and material efficiency also have the benefits of increased employment, improved balance of imports and exports, increased security of energy supply, and adopting environmentally advantageous energy supply. A large potential exists for energy savings through energy and material efficiency improvements. Technologies are not now, nor will they be, in the foreseeable future, the limiting factors with regard to continuing energy efficiency improvements. There are serious barriers to energy efficiency improvement, including unwillingness to invest, lack of available and accessible information, economic disincentives and organizational barriers. A wide range of policy instruments, as well as innovative approaches have been tried in some countries in order to achieve the desired energy efficiency approaches. These include: regulation and guidelines; economic instruments and incentives; voluntary agreements and actions, information, education and training; and research, development and demonstration. An area that requires particular attention is that of improved international co-operation to develop policy instruments and technologies to meet the needs of developing countries. Material efficiency has not received the attention that it deserves. Consequently, there is a dearth of data on the qualities and quantities for final consumption, thus, making it difficult to formulate policies. Available data, however, suggest that there is a large potential for improved use of many materials in industrialized countries.

  15. Waterpipe tobacco smoking impact on public health: implications for policy

    Directory of Open Access Journals (Sweden)

    Martinasek MP

    2015-08-01

    Full Text Available Mary P Martinasek,1 Linda M Gibson-Young,2 Janiece N Davis,3 Robert J McDermott41Public Health Department of Health Sciences and Human Performance, University of Tampa, Kennedy Boulevard, Tampa, FL, 2College of Nursing and Health Sciences, Texas A&M University: Corpus Christi, Corpus Christi, TX, 3Department of Health – Palm Beach County, West Palm beach, FL, 4Department of Population Health Sciences, School of Medicine and Public Health, University of Wisconsin-Madison, Madison, WI, USABackground: Given the increasing evidence of its negative health effects, including contributions to both infectious and chronic diseases, waterpipe tobacco smoking raises public health concerns beyond even those presented by traditional smoking. Methods: Identification of Clean Indoor Air Acts (CIAAs from each of the 50 United States and District of Columbia were retrieved and examined for inclusion of regulatory measures where waterpipe tobacco smoking is concerned. Several instances of exemption to current CIAAs policies were identified. The cumulative policy lens is presented in this study. Results: States vary in their inclusion of explicit wording regarding CIAAs to the point where waterpipe tobacco smoking, unlike traditional smoking products, is excluded from some legislation, thereby limiting authorities’ ability to carry out enforcement. Conclusion: Consistent, comprehensive, and unambiguous legislative language is necessary to prevent establishments where waterpipe tobacco smoking occurs from skirting legislation and other forms of regulatory control. Stricter laws are needed due to the increasing negative health impact on both the smoker and the bystander. Actions at both the federal and state levels may be needed to control health risks, particularly among youth and young adult populations.Keywords: health policy, waterpipe tobacco, hookah smoking, tobacco regulation

  16. Renewable deployment in India: Financing costs and implications for policy

    International Nuclear Information System (INIS)

    India′s ambitious goals for renewable energy raise many questions regarding the nature of investment required. We conduct financial modeling of actual renewable projects in India; and derive the following insights. First, the high cost of debt is the most pressing problem: higher cost and inferior terms of debt in India may raise the cost of renewable energy by 24–32% compared to the U.S. Second, even if cost of debt goes down, loan terms – including short tenors and variable interest rates – will become significant impediments, given that they add 13–14% to the cost of renewable energy in India compared to the U.S. Finally, due to the high cost of debt, policy lessons from the U.S. and Europe; which focus on finer instruments such as duration of revenue-support, revenue-certainty, investor-risk-perception, and completion/cost-certainty; are not likely to be as effective, with potential impacts on the cost of renewable energy in the 3–11% range. In fact, we find that an interest-rate subsidy, which reduces the cost of debt, reduces the overall subsidy burden by 13–16%. This suggests that Indian policymakers need to prioritize the provision of low-cost, long-term debt and take a closer look at the successful efforts by China and Brazil. -- Highlights: •We examine impact of policy on financing costs of renewables in India. •The high cost of debt – the most pressing problem – adds about 24–32% to the cost. •An interest rate subsidy can actually reduce the overall subsidy burden by 13–16%. •Loan terms – debt tenor and variable rate debt – add about 13–14% to the cost. •Finer policy instruments are not as effective, given that they add 3–11% to the cost

  17. Transboundary air pollution in Asia: Model development and policy implications

    Science.gov (United States)

    Holloway, Tracey

    2001-12-01

    This work investigates transboundary air pollution in Asia through atmospheric modeling and public policy analysis. As an example of models actively shaping environmental policy, the Convention on Long-Range Transboundary Air Pollution in Europe (LRTAP) is selected as a case study. The LRTAP Convention is the only mulit- lateral air pollution agreement to date, and results from the RAINS integrated assessment model were heavily used to calculate nationally differentiated emission ceilings. Atmospheric chemistry and transport are included in RAINS through the use of transfer coefficients (or ``source-receptor relationships'') relating pollutant transfer among European nations. Following past work with ATMOS to simulate sulfur species in Asia, here ATMOS is developed to include odd-nitrogen. Fitting with the linear structure of ATMOS and the emphasis on computational efficiency, a simplified chemical scheme developed for use in the NOAA Geophysical Fluid Dynamics Laboratory Global Chemical Transport Model (GFDL GCTM) is adopted. The method solves for the interconversions between NOx, HNO3, and PAN based on five reaction rates stored in look-up tables. ATMOS is used to calculate source-receptor relationships for Asia. Significant exchange of NOy occurs among China, North and South Korea, and Japan. On an annual average basis, China contributes 18% to Japan's total nitrate deposition, 46% to North Korea, and 26% to South Korea. Nitrate deposition is an important component of acidification (along with sulfate deposition), contributing 30-50% to the acid burden over most of Japan, and more than 50% to acid deposition in southeast Asia, where biomass burning emits high levels of NOx. In evaluating the policy-relevance of results from the ATMOS model, four factors are taken into account: the uncertainty and limitations of ATMOS, the environmental concerns facing Asia, the current status of the scientific community in relation to regional air pollution in the region, and

  18. The EU's Central Asia policy and its implications for China

    OpenAIRE

    SHAO, Yuqun

    2008-01-01

    "The EU under the German Presidency published its first strategy paper on Central Asia in June 2007. The document addresses a wide array of issues ranging from democracy and human rights to trade, energy cooperation, migration and inter-cultural dialogue. While Central Asia has been largely overlooked by the EU in the past, the new policy signals that the EU is no longer content to be left behind while other global powers become increasingly involved in the region. The EU will undoubtedly be ...

  19. Central Bank Transparent Policy and Macroeconomic Stability%中央银行透明化政策与宏观经济稳定

    Institute of Scientific and Technical Information of China (English)

    屈晓翔; 李颖

    2014-01-01

    在通胀预期管理背景下,构建中国2001~2013年中央银行信息交流指数,考量中央银行透明化政策影响宏观经济稳定机制。结果表明,央行增加信息交流有利于宏观经济稳定,某些情况下甚至超过实际干预的效果。因此,我国央行应进一步提高货币政策透明度并培育规范的中央银行信息交流机制。%In the context of inflation expectation management,this paper constructed a Chi-nese central bank communication index for the period of 2001 to 2013 to find the effect of central bank transparent policy on macroeconomic stability.The results showed that a more transparent monetary policy was conducive to macroeconomic stability.In some cases,the central bank's transparent policy is even more effective than its actual intervention.So the People's Bank of Chi-na should further enhance its level of transparency.

  20. 中央银行透明化政策与宏观经济稳定%Central Bank Transparent Policy and Macroeconomic Stability

    Institute of Scientific and Technical Information of China (English)

    屈晓翔; 李颖

    2014-01-01

    In the context of inflation expectation management,this paper constructed a Chi-nese central bank communication index for the period of 2001 to 2013 to find the effect of central bank transparent policy on macroeconomic stability.The results showed that a more transparent monetary policy was conducive to macroeconomic stability.In some cases,the central bank's transparent policy is even more effective than its actual intervention.So the People's Bank of Chi-na should further enhance its level of transparency.%在通胀预期管理背景下,构建中国2001~2013年中央银行信息交流指数,考量中央银行透明化政策影响宏观经济稳定机制。结果表明,央行增加信息交流有利于宏观经济稳定,某些情况下甚至超过实际干预的效果。因此,我国央行应进一步提高货币政策透明度并培育规范的中央银行信息交流机制。

  1. Committee Structure and its Implications for Monetary Policy Decision-making

    NARCIS (Netherlands)

    J.M. Berk (Jan Marc); B.K. Bierut

    2003-01-01

    textabstractWe investigate the implications for the setting of interest rates when monetary policy decisions are taken by a committee, in which a subset of members may meet prior to the voting in the committee and therefore has the possibility to reach consensus ex ante to vote unanimously ex post.

  2. Environmental Implications of Dynamic Policies on Food Consumption and Waste Handling in the European Union

    Directory of Open Access Journals (Sweden)

    Michael Martin

    2016-03-01

    Full Text Available This study will review the environmental implications of dynamic policy objectives and instruments outlined in the European Union 7th Framework Programme (EU-FP7 Project DYNAmic policy MIXes for absolute decoupling of EU resource use from economic growth (DYNAMIX to address reductions in food consumption, food waste and a change in waste handling systems. The environmental implications of reductions in protein intake, food waste reductions, food waste management and donations are addressed using a life cycle approach to find the greenhouse gas (GHG emissions, land use and water consumption. Data are provided from the Statistics Division of the Food and Agriculture Organization (FAOSTAT food balance sheets for the European Union (EU with a base year of 2010 and life cycle inventory (LCI data from a meta-study of available GHG, land use and water consumption data for major food products. The implications are reviewed using a number of scenarios for the years 2030 and 2050 assuming policy instruments are fully effective. Results indicate that reductions in animal-based protein consumption significantly reduce environmental impacts, followed thereafter by reductions in food waste (assuming this also reduces food consumption. Despite the positive implications the policy mixes may have for targets for decoupling, they are not enough to meet GHG emissions targets for the EU outlined in the DYNAMIX project, although land and water use have no significant change compared to 2010 levels.

  3. Investigating Policy Implications for the Abolition of Corporal Punishment in Secondary Schools in Kenya

    Science.gov (United States)

    Kindiki, Jonah Nyaga

    2015-01-01

    The main objective of this study is to investigate policy implications for the abolition of corporal punishment in secondary schools in Kenya. Adopting a survey design, using questionnaires, interviews and documentation, a sample of 355 was selected from target population of 3228 teachers, students and parents. The data were analysed thematically.…

  4. An Exploration of Child Maltreatment among Homeless Families: Implications for Family Policy

    Science.gov (United States)

    Pardeck, John T.

    2005-01-01

    This research explores the incidence of child maltreatment among homeless families. The maltreatment explored in the study includes physical, emotional and sexual abuse. The data reported a high incidence of child maltreatment in the lives of the homeless. The policy implications for these findings are discussed.

  5. Modelling Central Bank Independence and Inflation: Deus Ex Machina?

    Directory of Open Access Journals (Sweden)

    Dumiter Florin

    2015-11-01

    Full Text Available Central bank independence represents the core element of assessing the complex relationship between government and central bank, having at background the fundamental issue of a free monetary policy decision-making process from the hands of the political circle. However, central bank independence is a multilevel concept within some social, economic and behavioral implications both for the central banks and for the society at whole. Central bank independence is needed in order to establish an autonomous central bank with a high degree of freedom in choosing its’ instruments, objectives, techniques and tactics. Moreover, a high degree of transparency for the public disclosure and monitoring of central bank operation and transaction is needed for the social barometer of the central bank. Consequently the central bank must have a high degree of accountability and responsibility vis - á - vis of the most democratic institution, i.e. Parliament. In this article it is presented a comprehensive study regarding the complex relationship between central bank independence and inflation by modeling these two monetary policy panacea, in order to make a fine tuning regarding the causal relationship established in a heterodox manner.

  6. 77 FR 38838 - Compliance Policy Guide Sec. 230.110-Registration of Blood Banks, Other Firms Collecting...

    Science.gov (United States)

    2012-06-29

    ... Banks, Other Firms Collecting, Manufacturing, Preparing, or Processing Human Blood or Blood Products... Registration of Blood Banks, Other Firms Collecting, Manufacturing, Preparing, or Processing Human Blood or... INFORMATION: FDA issued the CPG entitled ``Sec. 230.110 Registration of Blood Banks, Other Firms...

  7. Adolescent suicide prevention. Current research and social policy implications.

    Science.gov (United States)

    Garland, A F; Zigler, E

    1993-02-01

    The rate of adolescent suicide has increased dramatically in the past few decades, prompting several interventions to curb the increase. Unfortunately, many of the intervention efforts have not benefited from current research findings because the communication between researchers and those who develop the interventions is inadequate. Of specific concern are the increasingly popular curriculum-based suicide prevention programs, which have not demonstrated effectiveness and may contain potentially deleterious components. This article reviews the current epidemiological research in adolescent suicide and suggests how this knowledge could be used more effectively to reduce the rate of adolescent suicide. Recommendations include support for integrated primary prevention efforts; suicide prevention education for professionals; education and policies on firearm management; education for the media about adolescent suicide; more efficient identification and treatment of at-risk youth, including those exposed to suicidal behavior; crisis intervention; and treatment for suicide attempters. PMID:8442571

  8. Food inflation in South Africa: some implications for economic policy.

    Science.gov (United States)

    Rangasamy, Logan

    2011-01-01

    This paper analyses the trends in food price movements in South Africa between 1980 and 2008. There are three main results emanating from the analysis in this paper. Firstly, food price movements have played a large role in generating inflationary episodes in South Africa. Secondly, while external influences do matter, South African food price movements are mainly due to domestic influences. This implies that national policy has an important role to play in taming domestic food price inflation. Thirdly, given the strong second round impacts, food price movements warrant special attention in monetary policymaking. Core measures of inflation that exclude food price movements may not accurately reflect the underlying inflationary pressures in the economy and could compromise the attainment of the goal of price stability.

  9. Science - Society Relations Enhancement: Policy Implications and Some Scientometric Evidences

    Directory of Open Access Journals (Sweden)

    L. Ivancheva

    2013-05-01

    Full Text Available The paper considers the significant transformations in the social dimensions of science in last decades. It is argued that science is no more “productive force” only, but it becomes a powerful factor for economic growth, enhancement of quality of life and social prosperity. Another tendency is the enhanced science-policy interactions, as well as the growing role of knowledge transfer and research ethics. New concepts, related to the increasing importance of the social functions of science, have occurred - “knowledge society, “knowledge-based economy, “sustainable development”. The scientometric study, presented in the paper, based on counting the publications on science-society relations and issuing new scientific journals on the considered topic, supports these statements.

  10. Recycling of sewage in Swedish municipalities - Policy implications

    Energy Technology Data Exchange (ETDEWEB)

    Soederberg, H.

    1997-12-31

    The construction of sewage treatment plants, which increased dramatically during the sixties in Sweden, was based on the idea that sewage is a waste, despite the fact that it contains considerable amounts of nourishment. Environmental research today, focuses more and more on recycling and on the potential resource inherent in sewage. This chapter deals with how to manage a change from problem elimination to recycling of resources, and discuss such from an institutional perspective. A shift towards recycling implies a shift of techniques, decision-makers and process strategies. Implementation of recycling will need strategic principles, and thereby results from research focusing common property resource management can be used in the policy process 32 refs, 5 figs

  11. Health centers at 40: implications for future public policy.

    Science.gov (United States)

    Hawkins, Dan; Rosenbaum, Sara

    2005-01-01

    As health centers celebrate their 40th anniversary, the larger American healthcare system faces challenges as daunting as any in its history. These include rising, unchecked costs of care, deteriorating access to care--especially among low-income, uninsured, and minority Americans--and unsettled quality of care for many. The authors argue that, as policymakers face the challenge of health system reform, the health centers program serves as a potential model for improving the cost-effectiveness and appropriateness of healthcare, setting the course for primary healthcare. At the same time, the program's very future depends on matters that extend into the broadest reaches of US health policy, in the areas of coverage, finance, workforce, quality improvement, and population health. PMID:16172565

  12. Decomposing Income Inequality and Policy Implications in Rural China

    Institute of Scientific and Technical Information of China (English)

    Lerong Yu; Renfu Luo; Linxiu Zhang

    2007-01-01

    Using village data from samples covering 6 provinces, 36 counties and 216 townships, the income inequalities within and between townships in rural China are assessed. The Theil index and the mean logarithmic deviation methods enable us to test income inequality at the township level, and to decompose it into intra-regional and inter-regional at county and provincial levels. In the present paper, we also decompose income inequalities between and within the nationally designated poor counties (NDPC). The results show that approximately two-thirds of the income inequality in rural China would be eliminated if measures and policies were targeted at the county level. This study also confirms the rationale that China's poverty alleviation strategy of focusing on poor counties based on the inequalities between NDPC and non-NDPC accounts for the most inter-province inequality.

  13. Food inflation in South Africa: some implications for economic policy.

    Science.gov (United States)

    Rangasamy, Logan

    2011-01-01

    This paper analyses the trends in food price movements in South Africa between 1980 and 2008. There are three main results emanating from the analysis in this paper. Firstly, food price movements have played a large role in generating inflationary episodes in South Africa. Secondly, while external influences do matter, South African food price movements are mainly due to domestic influences. This implies that national policy has an important role to play in taming domestic food price inflation. Thirdly, given the strong second round impacts, food price movements warrant special attention in monetary policymaking. Core measures of inflation that exclude food price movements may not accurately reflect the underlying inflationary pressures in the economy and could compromise the attainment of the goal of price stability. PMID:21966701

  14. Macroeconomic implications of population ageing and selected policy responses.

    Science.gov (United States)

    Bloom, David E; Chatterji, Somnath; Kowal, Paul; Lloyd-Sherlock, Peter; McKee, Martin; Rechel, Bernd; Rosenberg, Larry; Smith, James P

    2015-02-14

    Between now and 2030, every country will experience population ageing-a trend that is both pronounced and historically unprecedented. Over the past six decades, countries of the world had experienced only a slight increase in the share of people aged 60 years and older, from 8% to 10%. But in the next four decades, this group is expected to rise to 22% of the total population-a jump from 800 million to 2 billion people. Evidence suggests that cohorts entering older age now are healthier than previous ones. However, progress has been very uneven, as indicated by the wide gaps in population health (measured by life expectancy) between the worst (Sierra Leone) and best (Japan) performing countries, now standing at a difference of 36 years for life expectancy at birth and 15 years for life expectancy at age 60 years. Population ageing poses challenges for countries' economies, and the health of older populations is of concern. Older people have greater health and long-term care needs than younger people, leading to increased expenditure. They are also less likely to work if they are unhealthy, and could impose an economic burden on families and society. Like everyone else, older people need both physical and economic security, but the burden of providing these securities will be falling on a smaller portion of the population. Pension systems will be stressed and will need reassessment along with retirement policies. Health systems, which have not in the past been oriented toward the myriad health problems and long-term care needs of older people and have not sufficiently emphasised disease prevention, can respond in different ways to the new demographic reality and the associated changes in population health. Along with behavioural adaptations by individuals and businesses, the nature of such policy responses will establish whether population ageing will lead to major macroeconomic difficulties. PMID:25468167

  15. Banks on Notice

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    Regulators issue policies to guide China’s banks as massive loans compromise the banking sector’s ability to contain future risks R egulatory departments are strengthening their supervision over financial institutions to prevent an incomprehensible financial scenario from unfolding: the failure of the Chinese banking

  16. Near Earth Objects and Cascading Effects from the Policy Perspective: Implications from Problem and Solution Definition

    Science.gov (United States)

    Lindquist, Eric

    2016-04-01

    The characterization of near-Earth-objects (NEOs) in regard to physical attributes and potential risk and impact factors presents a complex and complicates scientific and engineering challenge. The societal and policy risks and impacts are no less complex, yet are rarely considered in the same context as material properties or related factors. Further, NEO impacts are typically considered as discrete events, not as initial events in a dynamic cascading system. The objective of this contribution is to position the characterization of NEOs within the public policy process domain as a means to reflect on the science-policy nexus in regard to risks and multi-hazard impacts associated with these hazards. This will be accomplished through, first, a brief overview of the science-policy nexus, followed by a discussion of policy process frameworks, such as agenda setting and the multiple streams model, focusing events, and punctuated equilibrium, and their application and appropriateness to the problem of NEOs. How, too, for example, does NEO hazard and risk compare with other low probability, high risk, hazards in regard to public policy? Finally, we will reflect on the implications of alternative NEO "solutions" and the characterization of the NEO "problem," and the political and public acceptance of policy alternatives as a way to link NEO science and policy in the context of the overall NH9.12 panel.

  17. Technical Note: The Effect of The Fed’s Quantitative Easing Policy on the Performance of Listed Companies and the Banking Sector in Indonesia

    Directory of Open Access Journals (Sweden)

    Yanuar Rizky

    2015-12-01

    Full Text Available Abstract While the efficient market hypothesis suggests that stock price reflects the fundamental condition of companies, which could affect investors’ decisions, this technical note reports empirical evidence that stock price is also influenced by the public’s perception of the market situation. This note shows that the source of funds circulating in the Indonesia Stock Exchange is related to excess liquidity resulting from the policy of quantitative easing (QE by developed countries’ central banks. Banks funding assets with debt results in leverage relationships with the Capital Adequacy Ratio (CAR negatively affected. Thus it is evident that the Indonesian banking strategy is "reactive" and is influenced by external factors. External factors can be influenced by global issues as well as internal (enterprise performance issues. Therefore foreign and global issues may be important (perhaps dominant in determining the perceptions of the Indonesian stock market.

  18. Renewable energy and policy options in an integrated ASEAN electricity market: Quantitative assessments and policy implications

    International Nuclear Information System (INIS)

    Energy market integration (EMI) in the ASEAN region is a promising solution to relieve the current immobilization of its renewable energy resources and would serve the fast increasing demand for electricity in the region. EMI could be further extended with coordinated policies in carbon pricing, renewable energy portfolio standards (RPS), and feed-in-tariffs (FIT) in the ASEAN countries. Using a linear dynamic programming model, this study quantitatively assesses the impacts of EMI and the above-mentioned policies on the development of renewable energy in the power generation sector of the region, and the carbon emissions reduction achievable with these policies. According to our results, EMI is expected to significantly promote the adoption of renewable energy. Along with EMI, FIT appears to be more cost-effective than RPS and is recommended for the ASEAN region, albeit political barriers for policy coordination among the countries might be a practical concern. In addition, an RPS of 30% electricity from renewable sources by 2030, which is considered politically a “low-hanging fruit”, would achieve moderate improvements in carbon emissions reductions and renewable energy development, while incurring negligible increases in the total cost of electricity. -- Highlights: •Energy market integration (EMI), carbon pricing, RPS, and FIT are examined for ASEAN. •EMI is a promising and feasible solution to promote renewable energy for ASEAN. •Along with EMI, FIT appears to be more cost-effective than RPS for ASEAN. •RPS of 30% by 2030 appears to be reasonable and feasible for ASEAN. •Coordinating FIT and RPS policies under EMI among ASEAN is advised

  19. Identity politics: implications for gender analysis policy and training.

    Science.gov (United States)

    Erturk, Y

    1997-01-01

    As attention has shifted from a concern for citizenship, equality, and welfare to ideas of empowerment, equity, and governance, the locus of competition over power has rested with "identity politics," a recognition of cultural diversity that claims the legitimate right to produce alternative definitions and symbols of identity in public space. The change in identity formation from universal/national to fractured/tribalizing has implications for gender relations in contexts where patriarchal power controls production and reproduction. Except for feminism, all discourses in the current competition over identity politics are patriarchal. A look at the forces of change that shifted the process of modernization to a process of globalization reveals that, while modernization tends to standardize, globalization embraces the contradictory forces of universalizing and diversifying trends. Issues of identity and inequality were not problematic until the modern and the traditional subsumed each other and, thus, revealed the inherent contradictions of modernization. The diversifying forces that jeopardize the transnationalization of identity into membership in a "human society" include 1) language differences among the working classes, 2) growing global inequalities, and 3) collective memories of antagonistic histories. An analysis of gender based on identity politics can be conducted on a macro-level to understand the reluctance of central governments to initiate certain interventions, competing needs, new contradictions, changing gender roles, and the importance of promoting a global social contract.

  20. Identity politics: implications for gender analysis policy and training.

    Science.gov (United States)

    Erturk, Y

    1997-01-01

    As attention has shifted from a concern for citizenship, equality, and welfare to ideas of empowerment, equity, and governance, the locus of competition over power has rested with "identity politics," a recognition of cultural diversity that claims the legitimate right to produce alternative definitions and symbols of identity in public space. The change in identity formation from universal/national to fractured/tribalizing has implications for gender relations in contexts where patriarchal power controls production and reproduction. Except for feminism, all discourses in the current competition over identity politics are patriarchal. A look at the forces of change that shifted the process of modernization to a process of globalization reveals that, while modernization tends to standardize, globalization embraces the contradictory forces of universalizing and diversifying trends. Issues of identity and inequality were not problematic until the modern and the traditional subsumed each other and, thus, revealed the inherent contradictions of modernization. The diversifying forces that jeopardize the transnationalization of identity into membership in a "human society" include 1) language differences among the working classes, 2) growing global inequalities, and 3) collective memories of antagonistic histories. An analysis of gender based on identity politics can be conducted on a macro-level to understand the reluctance of central governments to initiate certain interventions, competing needs, new contradictions, changing gender roles, and the importance of promoting a global social contract. PMID:12294041

  1. Alcohol dependence: international policy implications for prison populations

    Directory of Open Access Journals (Sweden)

    Hoffmann Norman G

    2006-11-01

    Full Text Available Abstract Background In light of the emphasis on drug abuse, this study explored the relative prevalence of substance use disorders among United Kingdom (UK prison inmates in the context of findings from a general inmate population in the United States (US. The lead author of the report conducted a structured diagnostic interview with 155 new admissions to one of two prisons in the UK using the CAAPE (Comprehensive Addiction And Psychological Evaluation, a structured diagnostic interview, to ensure consistent assessments. The US sample consisted of 6,881 male inmates in a state prison system evaluated with an automated version of the SUDDS-IV (Substance Use Disorder Diagnostic Schedule-IV interview. Results Alcohol dependence emerged as the most prevalent substance use disorder in both UK prisons and in the US sample. Relative frequencies of abuse and dependence for alcohol and other drugs revealed that dependence on a given substance was more prevalent than abuse ad defined by the current diagnostic criteria. Conclusion Despite the emphasis on drugs in correctional populations, alcohol dependence appears to be the most prominent substance use disorder among the incarcerated in both the US and UK and must be considered in developing treatment programs and policy priorities.

  2. Differences among OECD countries’ GHG emissions: Causes and policy implications

    International Nuclear Information System (INIS)

    This article assesses the reasons for observed differences in greenhouse gas (GHG) emissions among high-income OECD countries. Nine factors were tested: climate, population pressure (measured as both growth and density), economic output per capita, technological development, industrial structure, energy prices, environmental governance, pollution abatement and control expenditures, and environmental pricing. Based on a series of regression analyses, three factors – energy prices, economic output per capita, and environmental governance – were identified as the most important factors for explaining differences in OECD per capita GHG emissions. Combined, these three factors explain about 81% of the variation observed in OECD per capita GHG emissions. Individually, energy prices explains about 55% of the variation in per capita GHG emissions, while economic output per capita explains about 19%, and environmental governance about 7%. These findings show that behavioural choices based on existing technologies, rather than exogenous factors such as climate, determine differences in GHG emissions and, therefore, policy options to change behaviour such as increasing energy prices and other regulatory changes have the potential to significantly reduce GHG emissions. - Highlights: • Greenhouse gas emissions range from a low of 7.2 t/capita in Switzerland to a high of 26.8 t/capita in Australia. • Results show that energy prices, economic output, and environmental governance explain two-thirds of the differences in per capita GHG emissions. • If energy prices are increased to the average of the three highest priced OECD countries GHG emissions would fall about 60%

  3. Tsunami: scientific frontiers, mitigation, forecasting and policy implications.

    Science.gov (United States)

    Bernard, E N; Mofjeld, H O; Titov, V; Synolakis, C E; González, F I

    2006-08-15

    Tsunamis are an ever-present threat to lives and property along the coasts of most of the world's oceans. As the Sumatra tsunami of 26 December 2004 reminded the world, we must be more proactive in developing ways to reduce their impact on our global society. This article provides an overview of the state of knowledge of tsunamis, presents some challenges confronting advances in the field and identifies some promising frontiers leading to a global warning system. This overview is then used to develop guidelines for advancing the science of forecasting, hazard mitigation programmes and the development of public policy to realize a global system. Much of the information on mitigation and forecasting draws upon the development and accomplishments of a joint state/federal partnership that was forged to reduce tsunami hazards along US coastlines-the National Tsunami Hazard Mitigation Programme. By integrating hazard assessment, warning guidance and mitigation activities, the programme has created a roadmap and a set of tools to make communities more resilient to local and distant tsunamis. Among the tools are forecasting, educational programmes, early warning systems and design guidance for tsunami-resilient communities. Information on international cooperation is drawn from the Global Earth Observing System of Systems (GEOSS). GEOSS provides an international framework to assure international compatibility and interoperability for rapid exchange of data and information. PMID:16844645

  4. Fully Digital: Policy and Process Implications for the AAS

    CERN Document Server

    Biemesderfer, Chris

    2012-01-01

    Over the past two decades, every scholarly publisher has migrated at least the mechanical aspects of their journal publishing so that they utilize digital means. The academy was comfortable with that for a while, but publishers are under increasing pressure to adapt further. At the American Astronomical Society (AAS), we think that means bringing our publishing program to the point of being fully digital, by establishing procedures and policies that regard the digital objects of publication primarily. We have always thought about our electronic journals as databases of digital articles, from which we can publish and syndicate articles one at a time, and we must now put flesh on those bones by developing practices that are consistent with the realities of article at a time publication online. As a learned society that holds the long-term rights to the literature, we have actively taken responsibility for the preservation of the digital assets that constitute our journals, and in so doing we have not forsaken t...

  5. Economic and policy implications of the cumulative carbon budget

    Science.gov (United States)

    Allen, M. R.; Otto, F. E. L.; Otto, A.; Hepburn, C.

    2014-12-01

    The importance of cumulative carbon emissions in determining long-term risks of climate change presents considerable challenges to policy makers. The traditional notion of "total CO2-equivalent emissions", which forms the backbone of agreements such as the Kyoto Protocol and the European Emissions Trading System, is fundamentally flawed. Measures to reduce short-lived climate pollutants benefit the current generation, while measures to reduce long-lived climate pollutants benefit future generations, so there is no sense in which they can ever be considered equivalent. Debates over the correct metric used to compute CO2-equivalence are thus entirely moot: both long-lived and short-lived emissions will need to be addressed if all generations are to be protected from dangerous climate change. As far as long-lived climate pollutants are concerned, the latest IPCC report highlights the overwhelming importance of carbon capture and storage in determining the cost of meeting the goal of limiting anthropogenic warming to two degrees. We will show that this importance arises directly from the cumulative carbon budget and the role of CCS as the technology of last resort before economic activity needs to be restricted to meet ambitious climate targets. It highlights the need to increase the rate of CCS deployment by orders of magnitude if the option of avoiding two degrees is to be retained. The difficulty of achieving this speed of deployment through conventional incentives and carbon-pricing mechanisms suggests a need for a much more direct mandatory approach. Despite their theoretical economic inefficiency, the success of recent regulatory measures in achieving greenhouse gas emissions reductions in jurisdictions such as the United States suggests an extension of the regulatory approach could be a more effective and politically acceptable means of achieving adequately rapid CCS deployment than conventional carbon taxes or cap-and-trade systems.

  6. National policy implications of the basic needs model.

    Science.gov (United States)

    Soedjatmoko

    1979-07-01

    The basic needs approach to development posits that once the basic needs of all the members of a society for food, health, education, housing, and employment are fulfilled, internal development of the country will be automatically generated. The goals of this approach have been widely discussed, but little serious attention has been given to determining the national policy needed to implement this approach. To meet the nutritional and employment needs, land reform and the democratization of rural areas must be achieved. At the same time rural residents must be encouraged to become self-reliant. Labor intensive public works projects must be emphasized and small business enterprises encouraged. Self-help housing efforts should be promoted. Medical education must be reoriented toward the needs of the poor. At the same time, the graduates of the medical schools must be able to function in the urban environment and keep abreast of recent medical developments. Similarly, if the educational goals of functional literacy for all citizens and universal primary education of all children are to be met, the educational institutions must commit themselves to the poor while continuing to meet urban demands for improved education. Rural development will necessitate the allocation of increased energy resources to rural areas. Information on developmental assistance must be made available to all segments of the population, cultural values must be integrated into development plans, and evaluation must be built into all development programs. In conclusion, the implementation of this approach requires contradictory structural changes such as the reallocation of resources. On the other hand, local community and individual participation, decision making, and innovation are posited as necessary ingredients for successful project outcome.

  7. 提升我国银行监管效率的策略选择%Policy Choices of Improving Chinese Banking Regulatory Efficiency

    Institute of Scientific and Technical Information of China (English)

    丁建臣; 庞小凤; 李相南

    2014-01-01

    Banking supervision is the center of financial supervision theory and policy research.Facing serious real challenges such as dislocation of banking regulatory body design , distortions of supervision object , absence of regulatory basis and regulatory inefficiencies , this article proposes policy recommendations of strengthening and in-novating Chinese banking supervision , in order to compensate for the vacuum to enhance regulatory efficiency of bank supervision in China , which has some theoretical value and practical significance.%银行监管是金融监管理论与政策研究的中枢。面对我国银行监管主体设计错位、监管客体扭曲、监管依据缺失和监管效率低下等严峻现实挑战,提出了强化和创新我国银行监管若干政策建议,对弥补我国银行监管真空进而提升监管效率,具有一定的理论价值和现实意义。

  8. Policy Implications of Solutions of Dynamic Optimal Production Problems for Disinflationary Economic Policies

    OpenAIRE

    Mustafa Akan

    2002-01-01

    The speed of the application of current economic policies that are being followed in Turkey is a very important question. This paper uses the results of the solutions of optimal control theoretic inventory and production problems for companies to offer opinions on this question under various assumptions on interest rates. The most important result of the paper is that the rate of decline of interest rates is as important as the absolute level of interest rates for investors to start investing...

  9. THE IMPLICATIONS OF SINGLE EURO PAYMENTS AREA (SEPA ON BANKING EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Mihaita-Cosmin POPOVICI

    2014-09-01

    Full Text Available With the creation of the euro by the Maastricht Treaty in 1992, European integration has deepened. Even with this step done the financial market is fragmented. In order to eliminate this disadvantage, the European Union has taken a number of measures. The first step is the Financial Services Action Plan in 2000, through the Lisbon Strategy. Second is the European Commission Regulation 2560/2001 to harmonise fees for cross border and domestic euro transactions. Third is the first pan-European Automated Clearing House in 2003. Last great step made is the Single Euro Payments Area (SEPA in 2008. In this paper, we want to research the degree of implementation of SEPA by using quantitative indicators: credit transfers, direct debits and payment cards, and the effects of this system on bank efficiency.

  10. Technologies, Democracy and Digital Citizenship: Examining Australian Policy Intersections and the Implications for School Leadership

    Directory of Open Access Journals (Sweden)

    Kathryn Moyle

    2014-01-01

    Full Text Available There are intersections that can occur between the respective peak Australian school education policy agendas. These policies include the use of technologies in classrooms to improve teaching and learning as promoted through the Melbourne Declaration on Educational Goals for Young Australians and the Australian Curriculum; and the implementation of professional standards as outlined in the Australian Professional Standard for Principals and the Australian Professional Standards for Teachers. These policies create expectations of school leaders to bring about change in classrooms and across their schools, often described as bringing about ‘quality teaching’ and ‘school improvement’. These policies indicate that Australian children should develop ‘democratic values’, and that school principals should exercise ‘democratic values’ in their schools. The national approaches to the implementation of these policies however, is largely silent on promoting learning that fosters democracy through education, or about making connections between teaching and learning with technologies, school leadership and living in a democracy. Yet the policies promote these connections and alignments. Furthermore, understanding democratic values, knowing what is a democracy, and being able to use technologies in democratic ways, has to be learned and practiced. Through the lens of the use of technologies to build digital citizenship and to achieve democratic processes and outcomes in schools, these policy complexities are examined in order to consider some of the implications for school leadership.

  11. The World Bank procurement regulations: a critical analysis of the enforcement mechanism and of the application of secondary policies in financed projects

    OpenAIRE

    Meireles, Marta de Castro

    2006-01-01

    Many national and international instruments have been concerned with building an effective procurement system. In this context, particular procurement issues, such as the implementation of secondary policies, the review mechanism to address complaints, provisions on electronic procurement or rules governing privately financed projects, have received an in-depth examination. However, the particular analysis of those issues in the context of World Bank-funded procurement has been given almost ...

  12. Learning to lend for off-grid solar power: policy lessons from World Bank loans to India, Indonesia, and Sri Lanka

    Energy Technology Data Exchange (ETDEWEB)

    Miller, Damian; Hope, Chris [Cambridge Univ., Judge Inst. of Management Studies, Cambridge (United Kingdom)

    2000-02-01

    The World Bank has sought to advance the diffusion of solar photovoltaic (PV) technology for off-grid applications in the developing world. As these systems are fundamentally different to centralised power stations and conventional rural electrification, the World Bank has been learning how best to lend for such technology. This study seeks to highlight the lessons learnt from the World Bank's first loans for off-grid PV to India, Indonesia, and Sri Lanka. It uses lifetime cost analysis to justify continued intervention in this sector, and it draws on theories of innovation diffusion to guide analysis and ultimately policy recommendations. Because of the special role of entrepreneurial start up companies in the rural PV sector, the paper also uses a company cash flow model to demonstrate the efficacy of various supply-side policies. Finally, the study concludes with a checklist of policy lessons and a consideration of the role of the International Finance Corporation in this sector. (Author)

  13. WMD first response: requirements, emerging technologies, and policy implications

    Energy Technology Data Exchange (ETDEWEB)

    Vergino, E S; Hoehn, W E

    2000-06-19

    some 50 representatives of the emergency response, technology development, and policy communities. Participating in this workshop were first responders (representing law enforcement, public health, and emergency response personnel from Los Angeles County, Salt Lake City, Atlanta, and London, England), technology developers from US government laboratories and universities, and policymakers from both the executive and legislative branches of the federal government. The workshop had several objectives. First, we wanted the emergency responders to define the utility of various technologies and tools currently available for first response to a WMD event. Second, we expected the workshop to provide input to the technologists directly from the field users, regarding their special requirements for, and constraints on the use of, new emergency response technologies. Third, we planned to expose the first responders to the types of new technologies under development and allow them the opportunity to ask questions and voice their needs. Finally, we planned to provide recommendations to policymakers for new directions for development and investment of technology.

  14. Earning and caring: demographic change and policy implications

    Directory of Open Access Journals (Sweden)

    Beaujot, Roderic

    2002-01-01

    Full Text Available EnglishSeeking to define families as groups of people who share earning and caringactivities, we contrast theoretical orientations that see advantages to a division of labour orcomplementary roles, in comparison to orientations that see less risk and greater companionship in acollaborative model based on sharing paid and unpaid work, or co-providing and co-parenting. It isimportant to look both inside and outside of families, or at the changing gendered links betweenearning and caring, to understand change both in families and in the work world. It is proposed thatequal opportunity by gender has advanced further in the public sphere associated with education andwork, than in the private family sphere associated with everyday life. Time-use data [from Canada]indicate that, on average, men carry their weight in terms of total productive time (paid plus unpaidwork, but that women make much more of the accommodations between family and work. Fertility islikely to be lowest in societies that offer women equal opportunity in the public sphere but wherefamilies remain traditional in terms of the division of work. Policies are discussed that would reducethe dependency between spouses, and encourage a greater common ground between men and women in earningand caring.FrenchEn cherchant à définir la famille comme étant un groupe de personnes partageant les activités relatives au fait de gagner de l'argent et de prendre soin des autres, nous nous distinguons des théories préconisant la division du travail ou les rôles complémentaires comparativement au modèle collaboratif qui a l'avantage de présenter moins de risque et plus de compagnonnage et qui est fondé sur le partage du travail rémunéré et non rémunéré, le travail à l'extérieur de la maison et le parentage. Il est important de voir ce qui se passe à l'intérieur et à l'extérieur de la famille ou de considérer les liens changeant d'après le sexe entre le rôle de pourvoyeur et

  15. Legalization of marijuana for non-medical use: health, policy, socioeconomic, and nursing implications.

    Science.gov (United States)

    Durkin, Anne

    2014-09-01

    The legalization of marijuana is a controversial issue with implications for health care providers, policy makers, and society at large. The use of marijuana for medical reasons is accepted in many states. However, legal sale of the drug for non-medical use began for the first time on January 1, 2014, in Colorado, following a relaxation of marijuana restrictions that is unprecedented worldwide. News reports have indicated that sales of the drug have been brisk. Marijuana-infused food products have been unexpectedly popular, exceeding sales projections. Marijuana use is associated with numerous physical and mental disorders and could result in addiction. Evidence suggests its potency has increased since the 1980s. Colorado has established regulations regarding the sale of marijuana for non-medical use, but concerns still exist. The current article offers a discussion of the health, public policy, socioeconomic, and nursing implications of the legalization of marijuana for non-medical use.

  16. A Biological Security Motivation System for Potential Threats: Are There Implications for Policy-Making?

    OpenAIRE

    Woody, Erik Z.; Henry eSzechtman

    2013-01-01

    Research indicates that there is a specially adapted, hard-wired brain circuit, the security motivation system, which evolved to manage potential threats, such as the possibility of contamination or predation. The existence of this system may have important implications for policy-making related to security. The system is sensitive to partial, uncertain cues of potential danger, detection of which activates a persistent, potent motivational state of wariness or anxiety. This state motivates ...

  17. Community Forest Management and Policy implication for the Biosphere Reserve of Luki, Democratic Republic of Congo

    OpenAIRE

    Shange, Bosaze Rufinga

    2013-01-01

    This research focused on sustainable community forest management and policy implications for the biosphere reserve of Luki in the DR- Congo. The purpose of this research was to find out opportunities and options to develop sustainable community forest management at the biosphere reserve of Luki. The research was conducted in the biosphere reserve of Luki located in the southwest of DR- Congo. The human activities threat the biosphere reserve of Luki to be under significant pressure of unsusta...

  18. Fuelwood procurement, consumption and substitution in selected areas of Botswana: implications for theory and policy

    International Nuclear Information System (INIS)

    This chapter summaries the results of the AFREPREN biomass research project examining environmental and socio-economic effects of biomass procurement, consumption and substitution. The economy, energy sector, physical features and population of Botswana are discussed, and household economics and fuelwood scarcity, fuelwood consumption and energy transitions in public institutions and small-scale industries are examined. Policy implications of the project findings are considered. (UK)

  19. Macroeconomic Implications for Hong Kong SAR of Accommodative U.S. Monetary Policy

    OpenAIRE

    Papa M'B. P. N'Diaye

    2009-01-01

    This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to create inflation in both goods and asset markets. Expansionary financial conditions will likely have a greater impact in fueling asset price inflation, manifested in the model through a strong increase in equity prices. Higher asset prices could, ...

  20. Top Incomes and the Great Recession: Recent Evolutions and Policy Implications

    OpenAIRE

    Thomas Piketty; Emmanuel Saez

    2013-01-01

    This paper presents new findings from the World Top Incomes Database and discusses some of their policy implications. In particular, the paper provides updated top income series for the United States—including new estimates through 2010, showing a strong rebound of the top 1 percent income share, following the 2008–09 sharp fall. It also presents updated income series for other developed countries (including the United Kingdom, France, Germany, and Japan) and new series on wealth-income ratio...

  1. Violent crime in post-civil war Guatemala: causes and policy implications

    OpenAIRE

    Turner, Duilia Mora

    2015-01-01

    Approved for public release; distribution is unlimited Guatemala is one of the most violent countries in Latin America, and thus the world. The primary purpose of this thesis is to answer the following question: what factors explain the rise of violent crime in post-civil war Guatemala? The secondary focus of this thesis is to identify the transnational implications of Guatemala’s violence for U.S. policy. Guatemala’s critical security environment requires the identification of causal rela...

  2. Central Bank Capital and the Effectiveness of Monetary Policy%央行资本金与货币政策的有效性

    Institute of Scientific and Technical Information of China (English)

    肖崎; 王迪

    2014-01-01

    2007年次贷危机后,各国央行都承担起“最后贷款人”的职责,救助金融机构,央行自身资产负债表的质量不断恶化,引发对中央银行资本金的关注。央行在履行维持物价稳定和一些“准财政”职能时,资本金可能遭受损失,资本金的损失会影响到央行的公信力和独立性,以及货币政策的有效性。充足的央行资本金对于货币政策的有效执行来说是一种有力的保障。%After the subprime crisis in 2007,the central banks of all countries took up the role of the lender of last resort and injected liquidity into financial institutions. This has made the quality of central bank balance sheet continu-ously deteriorate,which arouses attention to emphasizing the importance of the central banks’capital adequacy. When realizing its responsibility in keeping the stability of prices and some of its quasi-fiscal functions,its is possible for the central bank to suffering losses of capital. The inadequacy of its capital will influence the credibility and independence of central bank and undermine the effectiveness of monetary policy. Therefore,adequate capital of central banks can en-sure the effective conduction of monetary policy.

  3. Genomic sequencing: assessing the health care system, policy, and big-data implications.

    Science.gov (United States)

    Phillips, Kathryn A; Trosman, Julia R; Kelley, Robin K; Pletcher, Mark J; Douglas, Michael P; Weldon, Christine B

    2014-07-01

    New genomic sequencing technologies enable the high-speed analysis of multiple genes simultaneously, including all of those in a person's genome. Sequencing is a prominent example of a "big data" technology because of the massive amount of information it produces and its complexity, diversity, and timeliness. Our objective in this article is to provide a policy primer on sequencing and illustrate how it can affect health care system and policy issues. Toward this end, we developed an easily applied classification of sequencing based on inputs, methods, and outputs. We used it to examine the implications of sequencing for three health care system and policy issues: making care more patient-centered, developing coverage and reimbursement policies, and assessing economic value. We conclude that sequencing has great promise but that policy challenges include how to optimize patient engagement as well as privacy, develop coverage policies that distinguish research from clinical uses and account for bioinformatics costs, and determine the economic value of sequencing through complex economic models that take into account multiple findings and downstream costs. PMID:25006153

  4. A Biological Security Motivation System for Potential Threats: Are There Implications for Policy-Making?

    Directory of Open Access Journals (Sweden)

    Erik Z Woody

    2013-09-01

    Full Text Available Research indicates that there is a specially adapted, hard-wired brain circuit, the security motivation system, which evolved to manage potential threats, such as the possibility of contamination or predation. The existence of this system may have important implications for policy-making related to security. The system is sensitive to partial, uncertain cues of potential danger, detection of which activates a persistent, potent motivational state of wariness or anxiety. This state motivates behaviours to probe the potential danger, such as checking, and to correct for it, such as washing. Engagement in these behaviours serves as the terminating feedback for the activation of the system. Because security motivation theory makes predictions about what kinds of stimuli activate security motivation and what conditions terminate it, the theory may have applications both in understanding how policy-makers can best influence others, such as the public, and also in understanding the behavior of policy-makers themselves.

  5. How Mobile Are Resources in Chinese Agriculture?——Implications for China's Agricultural Trade Policy

    Institute of Scientific and Technical Information of China (English)

    Funing Zhong; Jing Zhu; Zhengqin Xie

    2007-01-01

    Agricultural trade policy in China has been the subject of heated discussion since China's accession to the WTO. Studies have been carried out and propositions put forth regarding comparative advantage, food security, development of the industry, and farmers' income.In this paper, we attempt to provide an analysis from another important perspective:resource mobility, which is an essential assumption in free trade theory. By examining the mobility of different production resources in Chinese agriculture, namely natural resources,capital inputs, human resources and institutional arrangements, we found that for most production resources in Chinese agriculture, mobility is low. The results have significant policy implications in two respects: first, protective measures in the transitional period for certain crops in certain areas in China are legitimate and necessary to ensure social stability; and second, policy instruments to improve resource mobility in Chinese agricultural should be explored and implemented to realize more trade benefit in the future.

  6. Rotenone Decreases Hatching Success in Brine Shrimp Embryos by Blocking Development: Implications for Zooplankton Egg Banks

    Science.gov (United States)

    Hutchison, Evan R.; Neumeyer, Courtney H.; Gunderson, Matthew D.

    2016-01-01

    While many zooplankton species recover quickly after the treatment of water resources with the piscicide, rotenone, some fail to reach pretreatment population density or, in rare cases, do not reappear at all. The variable impact of rotenone on zooplankton populations could stem from differences in the capacity of species to switch entirely to anaerobic catabolic pathways in the presence of rotenone, which blocks mitochondrial electron transport. Alternatively, variable responses among species could originate from differences in permeability of dormant life-stages to lipophilic chemicals like rotenone. The purpose of the present study was to determine the effects of rotenone on development, emergence and hatching of zooplankton embryos that lack both the anaerobic capacity to develop in the presence of rotenone and a permeability barrier to prevent the entry of rotenone during dormancy. Post-diapause embryos of the brine shrimp, Artemia franciscana, were employed as a model system, because they are permeable to lipophilic compounds when dechorionated and require aerobic conditions to support development. Early development in this species is also well characterized in the literature. Brine shrimp embryos were exposed to rotenone while development was either slowed by chilling or suspended by anoxia. Development, emergence and hatching were then observed in rotenone-free artificial seawater. The data presented demonstrate that rotenone freely diffuses across the embryonic cuticle in a matter of hours, and prevents development and emergence after brief exposures to ecologically relevant concentrations (0.025–0.5 mg L-1) of the piscicide. Neither the removal of rotenone from the environment, nor the removal of embryonic water with a hypertonic solution, are sufficient to reverse this block on development and emergence. These data indicate that rotenone could impair recruitment from egg banks for species of zooplankton that lack both an embryonic barrier to the entry

  7. A n Experimental Investigation of Online Banking Adoption in China

    Directory of Open Access Journals (Sweden)

    Guangying Hua

    2009-05-01

    Full Text Available O nline banking, an Internet based service enabling people to do financial transactions, has been an obstacle for the development of e - commerce in China. T his paper investigates the online banking acceptance in China. We conduct ed an experiment to investigate how users’ perception about online ba n king is af fected by the perceived ease of use of website and the privacy policy provided by the online banking website. We find that both perceived ease of use and privacy policy have a significant impact on user’s adoption of online banking. In this study , we also investigate the relative importance of perceived ease of use, privacy, and security. P erceived ease of use is of less importance than privacy and security. S ecurity is the most important factor influencing user ’ s adoption. A discussion of the implications of these results and limitations are provided at the end

  8. Medical tourism and policy implications for health systems: a conceptual framework from a comparative study of Thailand, Singapore and Malaysia.

    OpenAIRE

    Phua Kai Hong; Pocock Nicola S

    2011-01-01

    Abstract Medical tourism is a growing phenomenon with policy implications for health systems, particularly of destination countries. Private actors and governments in Southeast Asia are promoting the medical tourist industry, but the potential impact on health systems, particularly in terms of equity in access and availability for local consumers, is unclear. This article presents a conceptual framework that outlines the policy implications of medical tourism's growth for health systems, draw...

  9. NEW APPROACHES IN MONETARY POLICY MATTERS OF THE NATIONAL BANK OF ROMANIA (NBR FOLLOWING THE OUTBREAK OF THE INTERNATIONAL FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    SBÂRCEA IOANA RALUCA

    2012-09-01

    Full Text Available The monetary issue is a current one, given the fact that now, through this component of the economicpolicy, the monetary authority of each state tries to solve the problems considered essential for each economyseparately. Through this article I will try to capture the main changes that have been made regarding theimplementation of the monetary policy of the NBR following the international financial crisis. The fact is that theNational Bank of Romania’s approach has changed, in the sense that the objective of targeting the inflation hasbecome a secondary one and the actions for supporting the economy and the Romanian banking system have takenthe first place. Thus, we showed that approaches of the National Bank of Romania before and after the financialcrisis. Thus, we observed the opposite sense in using the main monetary policy instruments, namely encouragingliquidity absorption from the market before 2008, through practicing high levels of the reference rate and of theminimum mandatory reserves and through encouraging the liquidity provision in the market after 2008 by graduallyreducing the benchmark interest rate and the mandatory reserve ratio. At first sight the purpose of this newapproach is obvious, namely credit growth for an economic recovery. This is possible under the conditions thatthese loans are addressed to the corporations directly productive that can contribute to achieving this goal. InRomania, however, these measures had as a result a significant increase of the loans granted to the state, an aspectthat contributes to indebtedness of the economy and not to its recovery.

  10. 12 CFR 337.11 - Effect on other banking practices.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Effect on other banking practices. 337.11 Section 337.11 Banks and Banking FEDERAL DEPOSIT INSURANCE CORPORATION REGULATIONS AND STATEMENTS OF GENERAL POLICY UNSAFE AND UNSOUND BANKING PRACTICES § 337.11 Effect on other banking practices. Nothing...

  11. Biodiversity and Habitat Markets—Policy, Economic, and Ecological implications of Market-Based Conservation

    Science.gov (United States)

    Pindilli, Emily; Casey, Frank

    2015-01-01

    This report is a primer on market-like and market-based mechanisms designed to conserve biodiversity and habitat. The types of markets and market-based approaches that were implemented or are emerging to benefit biodiversity and habitat in the United States are examined. The central approaches considered in this report include payments for ecosystem services, conservation banks, habitat exchanges, and eco-labels. Based on literature reviews and input from experts and practitioners, the report characterizes each market-based approach including policy context and structure; the theoretical basis for applying market-based approaches; the ecological effectiveness of practices and tools for measuring performance; and the future outlook for biodiversity and habitat markets. This report draws from previous research and serves as a summary of pertinent information associated with biodiversity and habitat markets while providing references to materials that go into greater detail on specific topics.

  12. Biodiversity and Habitat Markets—Policy, Economic, and Ecological implications of Market-Based Conservation

    Science.gov (United States)

    Pindilli, Emily; Casey, Frank

    2015-10-26

    This report is a primer on market-like and market-based mechanisms designed to conserve biodiversity and habitat. The types of markets and market-based approaches that were implemented or are emerging to benefit biodiversity and habitat in the United States are examined. The central approaches considered in this report include payments for ecosystem services, conservation banks, habitat exchanges, and eco-labels. Based on literature reviews and input from experts and practitioners, the report characterizes each market-based approach including policy context and structure; the theoretical basis for applying market-based approaches; the ecological effectiveness of practices and tools for measuring performance; and the future outlook for biodiversity and habitat markets. This report draws from previous research and serves as a summary of pertinent information associated with biodiversity and habitat markets while providing references to materials that go into greater detail on specific topics.

  13. China's CDM Policies and Their Development Implications: Major Concerns for CDM Implementation

    Institute of Scientific and Technical Information of China (English)

    Zhu Xianli; Pan Jiahua

    2006-01-01

    Most CDM (Clean Development Mechanism)opportunities exist in some large industrializing developing countries. For instance, China is estimated to take 48% of the world potential for CDM project activities. In reality, however, the share by China over the CDM projects registered and CDM projects in the pipeline is less than 10% as of Auguest 2005. This paper will examine the reasons behind, as reflected in China's CDM policies. Further investigation will be made into the use of these policies to boost the country's sustainable development, the sustainable development implications and effects of these policies. In addition, it is noted that incompatibility of some other Chinese laws and policies can be responsible for the low level and slow pace of CDM implementation in China and some suggestions are offered for promoting CDM project activities in China. There also exist barriers at the international level that impedes implementation of CDM project activities. A conclusion is drawn that CDM policies in a developing country like China aim mainly at promotion of sustainable development and to a lesser extent the generation of CERs.

  14. 12 CFR 614.4070 - Loans and chartered territory-Farm Credit Banks, agricultural credit banks, Federal land bank...

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans and chartered territory-Farm Credit Banks..., provided such loans are authorized by the policies of the bank and/or association involved, do not constitute a significant shift in loan volume away from the bank or association's assigned territory, and...

  15. Public Disclosure and Bank Failures

    OpenAIRE

    Eduardo Levy Yeyati; Tito Cordella

    1998-01-01

    This paper analyses the impact of public disclosure of banks’ risk exposure on banks’ risk taking incentives and its implications in terms of soundness of the banking system. We find that, when banks have a complete control over the volatility of their loan portfolio, public disclosure reduces the probability of banking crises. When asset risk is driven largely by exogenous factors beyond the control of bank managers, however, information disclosure may increase banking sector fragility, as t...

  16. The Banks and Sustainable Development

    OpenAIRE

    Madzova, Violeta

    2012-01-01

    This paper focuses on the role of the banks in supporting sustainable development. Its objective is to examine recent trends in banking and sustainable development, as well as to assess the implementation and application of the sustainable development policies adopted by the banks in the banking sector in Republic of Macedonia. For that purpose it is made a comprehensive analysis on the trends of “sustainable finance”, as well as research on the practices in the Macedonian banking sector in s...

  17. 互联网金融对我国货币政策影响分析%The Impact of the Internet Banking over China's Monetary Policy

    Institute of Scientific and Technical Information of China (English)

    邹新月; 罗亚南; 高杨

    2014-01-01

    The rapid development of Internet banking has led to the deposit moving,banking reform and monetary fund development,which are not only changing the pattern of the financial markets,but also having an impact on monetary policy.From the influence of Internet financial mechanism of monetary policy,this pa-per analyzes the current money demand,money supply and efficiency of monetary policy.It has made the fol-lowing three conclusions.First,the Internet can promote the public's investment motivation and increase the money demand.Second,the Internet banking can broaden the money supply and reduce the money supply's controllability,predictability and relevance.Third,the Internet banking disturbs the accuracy of monetary policy making and the effectiveness of monetary policy implementation.%互联网金融快速发展所带来“存款搬家”、银行业改革、货币基金崛起等现象正在改变着金融市场格局,也逐步对货币政策产生影响。从互联网金融影响货币政策的机理出发,通过对货币需求、货币供给和货币政策效率三个方面分析,得出以下结论:一是互联网金融能够促进公众投资性动机,增加货币需求;二是互联网金融间接拓宽了货币供给渠道,削弱货币供给的可控性、可预测性与相关性;三是互联网金融干扰了货币政策制定的准确性与实施的有效性。

  18. The Role of Corporate Governance on the Reduction of the Global Financial Crisis Implications: Evidence from Banking Sector of Jordan

    OpenAIRE

    Mo'taz Amin Al-Sa'eed

    2012-01-01

    This study aims to determine the role of Corporate Governance on the reduction of the global financial crisisimplications on the Banking Sector of Jordan; in addition to that, it aims to review the latest CBJ regulation anddirections which were issued during 2009 in order to motive the Jordanian Banks to expand the credit andlending to the public. In this study the researcher has used the CG Codes Pillars for Banks, and the monthlyreports issued by CBJ. In order to reach the desired results, ...

  19. PERCEIVED BARRIERS OF INNOVATIVE BANKING AMONG MALAYSIAN RETAIL BANKING CUSTOMERS

    Directory of Open Access Journals (Sweden)

    Jayaraman Munusamy

    2012-04-01

    Full Text Available This study aims to identify perceptual barriers of Internet banking adoption among Malaysian retail banking customers. The per ceptual barrier factors that analyzed were difficulty to operate, hassle to use, unreliable, perceived risk and high connection fees. This study employs a quantitative approach using questionnaire survey at selected banks in Malaysia. The results indicate that there are significant barriers exist in the perception of Internet banking adoption among Malaysian retail banking customers. The results indicate several implications for bank managers to change the perceptions of retail internet banking customers.

  20. Residence times and mixing of water in river banks: implications for recharge and groundwater-surface water exchange

    Science.gov (United States)

    Unland, N. P.; Cartwright, I.; Cendón, D. I.; Chisari, R.

    2014-12-01

    Bank exchange processes within 50 m of the Tambo River, southeast Australia, have been investigated through the combined use of 3H and 14C. Groundwater residence times increase towards the Tambo River, which suggests the absence of significant bank storage. Major ion concentrations and δ2H and δ18O values of bank water also indicate that bank infiltration does not significantly impact groundwater chemistry under baseflow and post-flood conditions, suggesting that the gaining nature of the river may be driving the return of bank storage water back into the Tambo River within days of peak flood conditions. The covariance between 3H and 14C indicates the leakage and mixing between old (~17 200 years) groundwater from a semi-confined aquifer and younger groundwater (<100 years) near the river, where confining layers are less prevalent. It is likely that the upward infiltration of deeper groundwater from the semi-confined aquifer during flooding limits bank infiltration. Furthermore, the more saline deeper groundwater likely controls the geochemistry of water in the river bank, minimising the chemical impact that bank infiltration has in this setting. These processes, coupled with the strongly gaining nature of the Tambo River are likely to be the factors reducing the chemical impact of bank storage in this setting. This study illustrates the complex nature of river groundwater interactions and the potential downfall in assuming simple or idealised conditions when conducting hydrogeological studies.

  1. IMPLICATIONS OF THE EU MULTI-LEVEL GOVERNANCE IN THE FIELD OF COMPETITION POLICY – A COMPARATIVE ANALYSIS OF THE CHARACTERISTICS OF COHESION AND COMPETITION POLICIES

    Directory of Open Access Journals (Sweden)

    Florin Bonciu

    2011-09-01

    Full Text Available The paper aims at analyzing the intrinsic characteristics of the European Union and to show that these characteristics objectively require the implementation of multi-level governance. A comparative analysis of the European Union’s cohesion and competition policy is presented from the point of view of these elements. Further on, given the implications of the economic crisis, the paper explores the possible translation from multi-level governance to polycentric governance and its implications for the cohesion and competition policies.

  2. Creating value in health care through big data: opportunities and policy implications.

    Science.gov (United States)

    Roski, Joachim; Bo-Linn, George W; Andrews, Timothy A

    2014-07-01

    Big data has the potential to create significant value in health care by improving outcomes while lowering costs. Big data's defining features include the ability to handle massive data volume and variety at high velocity. New, flexible, and easily expandable information technology (IT) infrastructure, including so-called data lakes and cloud data storage and management solutions, make big-data analytics possible. However, most health IT systems still rely on data warehouse structures. Without the right IT infrastructure, analytic tools, visualization approaches, work flows, and interfaces, the insights provided by big data are likely to be limited. Big data's success in creating value in the health care sector may require changes in current polices to balance the potential societal benefits of big-data approaches and the protection of patients' confidentiality. Other policy implications of using big data are that many current practices and policies related to data use, access, sharing, privacy, and stewardship need to be revised. PMID:25006136

  3. The fuel market effects of biofuel policies and implications for regulations based on lifecycle emissions

    International Nuclear Information System (INIS)

    The absence of a globally-consistent and binding commitment to reducing greenhouse emissions provides a rationale for partial policies, such as renewable energy mandates, product emission standards, etc to target lifecycle emissions of the regulated products or services. While appealing in principle, regulation of lifecycle emissions presents several practical challenges. Using biofuels as an illustrative example, we highlight some outstanding issues in the design and implementation of life cycle-based policies and discuss potential remedies. We review the literature on emissions due to price effects in fuel markets, which are akin to emissions due to indirect land use change, but are, unlike the latter, ignored under all current life cycle emissions-based regulations. We distinguish the current approaches to regulating indirect emissions into hard and soft approaches and discuss their implications. (letter)

  4. On the economic analysis of problems in energy efficiency: Market barriers, market failures, and policy implications

    International Nuclear Information System (INIS)

    In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called ''market barriers'' to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland's attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate

  5. On the economic analysis of problems in energy efficiency: Market barriers, market failures, and policy implications

    Energy Technology Data Exchange (ETDEWEB)

    Sanstad, A.H.; Koomey, J.G.; Levine, M.D.

    1993-01-01

    In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called ``market barriers`` to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland`s attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate.

  6. On the economic analysis of problems in energy efficiency: Market barriers, market failures, and policy implications

    Energy Technology Data Exchange (ETDEWEB)

    Sanstad, A.H.; Koomey, J.G.; Levine, M.D.

    1993-01-01

    In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called market barriers'' to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland's attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate.

  7. Creating value in health care through big data: opportunities and policy implications.

    Science.gov (United States)

    Roski, Joachim; Bo-Linn, George W; Andrews, Timothy A

    2014-07-01

    Big data has the potential to create significant value in health care by improving outcomes while lowering costs. Big data's defining features include the ability to handle massive data volume and variety at high velocity. New, flexible, and easily expandable information technology (IT) infrastructure, including so-called data lakes and cloud data storage and management solutions, make big-data analytics possible. However, most health IT systems still rely on data warehouse structures. Without the right IT infrastructure, analytic tools, visualization approaches, work flows, and interfaces, the insights provided by big data are likely to be limited. Big data's success in creating value in the health care sector may require changes in current polices to balance the potential societal benefits of big-data approaches and the protection of patients' confidentiality. Other policy implications of using big data are that many current practices and policies related to data use, access, sharing, privacy, and stewardship need to be revised.

  8. Rural Households’ Adaptation to Climate Change and its Implications for Policy Designs in Lijiang, China

    DEFF Research Database (Denmark)

    Zheng, Yuan

    , limited research has addressed adaptation and vulnerability from a temporal perspective, in terms of how these have evolved in the past and how they may develop in the future. Moreover, it remains poorly understood what shapes adaptation decision-making and how this can be measured quantitatively....... The thesis, carried out in three mountain villages in southwest China, seeks to advance the understanding of local adaptation process and its implications for vulnerability and policy designs. In particular, the research contributes to quantitative assessment of current and forward-looking adaptation...

  9. Research on the Macroprudential Policy and Banks'Risk Taking%宏观审慎政策与银行风险承担研究

    Institute of Scientific and Technical Information of China (English)

    沈沛龙; 王晓婷

    2015-01-01

    针对宏观审慎政策中的逆周期政策工具对银行风险承担产生的影响进行了分析。在理论上研究了逆周期政策工具所带来的宏观和微观效应,并运用动态面板数据广义矩估计方法进行了实证分析。研究发现,在信贷扩张期杠杆率、贷款损失准备金率的上升会使银行的当期风险承担水平增加,资本充足率的提高使风险承担降低。而滞后六个月的资本充足率、杠杆率、贷款损失准备金率的上升可以显著降低当期的风险承担水平,宏观审慎政策工具的宏观效应和微观效应一致。%This paper analyzes the impact of countercyclical policy instruments on banks'risk taking in the framework of macroprudential policy.It studies the macro and micro effects of countercyclical policy instruments theoretically and uses dynamic panel data GMM estimation em-pirically.The study finds that there is a positive relationship between leverage ratio,loan loss re-serve ratio and banks'risk taking,and a negative relationship between capital adequacy ratio and banks'risk taking.The increase of capital adequacy ratio,leverage ratio,loan loss reserve ratio which are lag of six months can reduce current banks'risk taking significantly.The macro and mi-cro effects of macroprudential policy instruments are consistent.

  10. House Price Fluctuations,Monetary Policy and Bank Credit%房价波动、货币政策与银行信贷

    Institute of Scientific and Technical Information of China (English)

    王菊; 管金梁

    2016-01-01

    Based on the data from 2005-2014,the paper analyzed theoretically the interaction of real estate price,bank credit and monetary policy by VAR model and through Granger causality test ,impulse response a-nalysis and variance decomposition to reveal the influence of monetary policy on real estate and band credit and the relationship between real estate price and band credit.The results show that monetary policy has much im-pact on real estate price and bank credit,and from a long-term point of view,the interaction between real es-tate price and band credit is more evident.Due to time-lag,the interaction is not obvious in the first period, and the later period the more obvious.Based on these,our country may regulate monetary policy more cautious-ly,promote the ability of banks to avoid risks,increase financial innovation and guide the way of real estate market legitimately to secure the safety of credit assets in commercial bank.%基于2005-2014年的季度数据,借助 VAR 模型对变量进行协整检验、脉冲响应分析、方差分解,以探究货币政策对房价和银行信贷的影响以及房价波动与银行信贷之间的相互作用关系。结果表明:短期内货币政策对房价波动和银行信贷都有显著的正向影响;从长期来看,房价波动与银行信贷之间的正向影响程度更加显著,而货币政策对房价有明显的负面影响。基于此,我国可以谨慎调控货币政策、合理引导房地产市场发展、提升银行防范风险能力、加强金融创新,以维护商业银行信贷资产安全。

  11. Long-term climate policy implications of phasing out fossil fuel subsidies

    International Nuclear Information System (INIS)

    It is often argued that fossil fuel subsidies hamper the transition towards a sustainable energy supply as they incentivize wasteful consumption. We assess implications of a subsidy phase-out for the mitigation of climate change and the low-carbon transformation of the energy system, using the global energy–economy model REMIND. We compare our results with those obtained by the International Energy Agency (based on the World Energy Model) and by the Organization for Economic Co-Operation and Development (OECD-Model ENV-Linkages), providing the long-term perspective of an intertemporal optimization model. The results are analyzed in the two dimensions of subsidy phase-out and climate policy scenarios. We confirm short-term benefits of phasing-out fossil fuel subsidies as found in prior studies. However, these benefits are only sustained to a small extent in the long term, if dedicated climate policies are weak or nonexistent. Most remarkably we find that a removal of fossil fuel subsidies, if not complemented by other policies, can slow down a global transition towards a renewable based energy system. The reason is that world market prices for fossil fuels may drop due to a removal of subsidies. Thus, low carbon alternatives would encounter comparative disadvantages. - Highlights: • We assess implications of phasing out fossil fuel subsidies on the mitigation of climate change. • The removal of subsidies leads to a net-reduction in the use of energy. • Emission reductions contribute little to stabilize greenhouse gases at 450 ppm if not combined with climate policies. • Low carbon alternatives may encounter comparative disadvantages due to relative price changes at world markets

  12. Essays on Bank Risk

    OpenAIRE

    Cabiles, Neil Adrian

    2012-01-01

    This PhD Thesis is composed of three chapters, each discussing a specific type of risk that banks face. The first chapter talks about Systemic Risk and how banks get exposed to it through the Interbank Funding Market. Exposures in the said market have Systemic Risk implications because the market creates linkages, where the failure of one party can affect the others in the market. By showing that CDS Spreads, as bank risk indicators, are positively related to their Net Interbank Funding ...

  13. Implications of Credit Policies for Output and the Balance of Payments (Les conséquences de la politique du crédit sur la production et la balance des paiements) (Las repercusiones de las medidas de política crediticia en la producción y la balanza de pagos)

    OpenAIRE

    Keller, Peter M.

    1980-01-01

    Stabilization programs supported by use of Fund resources typically contain limitations on credit expansion by the domestic banking system and on foreign borrowing by the public sector. This paper analyzes some of the implications of credit policies for output and growth and how they relate to the development of the current account and overall balance of payments. The framework chosen for the analysis is one in which the availability of financing is a direct and major determinant of current a...

  14. Mobility as a positional good : implications for transport policy and planning

    Energy Technology Data Exchange (ETDEWEB)

    Litman, T. [Victoria Transport Policy Institute, Victoria, BC (Canada)

    2007-01-17

    Social position refers to a person's social rank. Many goods have positional value because they increase the status of their consumers. Positional goods include fashionable jewellery and clothing, luxurious homes and vehicles, and extravagant entertainment. Many motorists choose vehicles with greater potential speeds and off-road abilities than actually needed because these features are considered prestigious. This paper examined how positional value affects transportation decisions and investigated the resulting economic impacts. These included impacts on social welfare and external costs. The paper also discussed implications for transport policy and planning. The paper discussed the science of happiness and included an excerpt from a newspaper article on money and happiness. The paper also included an analysis of popular television shows and Internet blogs. Transportation impacts were also examined, with reference to motor vehicle ownership, luxury vehicles, mode choice, long-distance recreation travel, planning practices, and industrial development policy. A table was also presented that summarized the categories of prestige value travel impacts. The paper also presented possible offsetting benefits and implications for planning. 40 refs., 1 tab., 11 figs.

  15. Energy sector water use implications of a 2 °C climate policy

    International Nuclear Information System (INIS)

    Quantifying water implications of energy transitions is important for assessing long-term freshwater sustainability since large volumes of water are currently used throughout the energy sector. In this paper, we assess direct global energy sector water use and thermal water pollution across a broad range of energy system transformation pathways to assess water impacts of a 2 °C climate policy. A global integrated assessment model is equipped with the capabilities to account for the water impacts of technologies located throughout the energy supply chain. The model framework is applied across a broad range of 2 °C scenarios to highlight long-term water impact uncertainties over the 21st century. We find that water implications vary significantly across scenarios, and that adaptation in power plant cooling technology can considerably reduce global freshwater withdrawals and thermal pollution. Global freshwater consumption increases across all of the investigated 2 °C scenarios as a result of rapidly expanding electricity demand in developing regions and the prevalence of freshwater-cooled thermal power generation. Reducing energy demand emerges as a robust strategy for water conservation, and enables increased technological flexibility on the supply side to fulfill ambitious climate objectives. The results underscore the importance of an integrated approach when developing water, energy, and climate policy, especially in regions where rapid growth in both energy and water demands is anticipated. (letter)

  16. Energy sector water use implications of a 2 °C climate policy

    Science.gov (United States)

    Fricko, Oliver; Parkinson, Simon C.; Johnson, Nils; Strubegger, Manfred; van Vliet, Michelle TH; Riahi, Keywan

    2016-03-01

    Quantifying water implications of energy transitions is important for assessing long-term freshwater sustainability since large volumes of water are currently used throughout the energy sector. In this paper, we assess direct global energy sector water use and thermal water pollution across a broad range of energy system transformation pathways to assess water impacts of a 2 °C climate policy. A global integrated assessment model is equipped with the capabilities to account for the water impacts of technologies located throughout the energy supply chain. The model framework is applied across a broad range of 2 °C scenarios to highlight long-term water impact uncertainties over the 21st century. We find that water implications vary significantly across scenarios, and that adaptation in power plant cooling technology can considerably reduce global freshwater withdrawals and thermal pollution. Global freshwater consumption increases across all of the investigated 2 °C scenarios as a result of rapidly expanding electricity demand in developing regions and the prevalence of freshwater-cooled thermal power generation. Reducing energy demand emerges as a robust strategy for water conservation, and enables increased technological flexibility on the supply side to fulfill ambitious climate objectives. The results underscore the importance of an integrated approach when developing water, energy, and climate policy, especially in regions where rapid growth in both energy and water demands is anticipated.

  17. Implications of weak near-term climate policies on long-term climate mitigation pathways

    Energy Technology Data Exchange (ETDEWEB)

    Luderer, Gunnar; Bertram, Christoph; Calvin, Katherine V.; De Cian, Enrica; Kriegler, Elmar

    2016-05-09

    While the international community has set a target to limit global warming to no more than 2°C above pre-industrial levels, only a few concrete climate policies and measures to reduce greenhouse gas (GHG) emissions have been implemented. We use a set of three global integrated assessment models to analyze the implications of current climate policies on long-term mitigation targets. We define a weak-policy baseline scenario, which extrapolates the current policy environment by assuming that the global climate regime remains fragmented and that emission reduction efforts remain unambitious in most of the world’s regions. In this scenario, GHG concentrations stabilize at approximately 650 ppm CO2e, which clearly falls short of the international community’s long-term climate target. We investigate the cost and achievability of the stabilization of atmospheric GHG concentrations at 450 ppm CO2e by 2100, if countries follow the weak policy pathway until 2020 or 2030, before global cooperative action is taken to pursue the long-term mitigation target. Despite weak near-term action, a 450 ppm CO2e target is achievable in all the models. However, we find that a deferral of ambitious action exacerbates the challenges of low stabilization. Specifically, weak near-term action leads to (a) higher temporary overshooting of radiative forcing, (b) faster and more aggressive transformations of energy systems after target adoption, (c) more stranded investments in fossil-based capacities, and (d) higher long-term mitigation costs and carbon prices._

  18. Policy-Making Theory as an Analytical Framework in Policy Analysis: Implications for Research Design and Professional Advocacy.

    Science.gov (United States)

    Sheldon, Michael R

    2016-01-01

    Policy studies are a recent addition to the American Physical Therapy Association's Research Agenda and are critical to our understanding of various federal, state, local, and organizational policies on the provision of physical therapist services across the continuum of care. Policy analyses that help to advance the profession's various policy agendas will require relevant theoretical frameworks to be credible. The purpose of this perspective article is to: (1) demonstrate the use of a policy-making theory as an analytical framework in a policy analysis and (2) discuss how sound policy analysis can assist physical therapists in becoming more effective change agents, policy advocates, and partners with other relevant stakeholder groups. An exploratory study of state agency policy responses to address work-related musculoskeletal disorders is provided as a contemporary example to illustrate key points and to demonstrate the importance of selecting a relevant analytical framework based on the context of the policy issue under investigation.

  19. Policy-Making Theory as an Analytical Framework in Policy Analysis: Implications for Research Design and Professional Advocacy.

    Science.gov (United States)

    Sheldon, Michael R

    2016-01-01

    Policy studies are a recent addition to the American Physical Therapy Association's Research Agenda and are critical to our understanding of various federal, state, local, and organizational policies on the provision of physical therapist services across the continuum of care. Policy analyses that help to advance the profession's various policy agendas will require relevant theoretical frameworks to be credible. The purpose of this perspective article is to: (1) demonstrate the use of a policy-making theory as an analytical framework in a policy analysis and (2) discuss how sound policy analysis can assist physical therapists in becoming more effective change agents, policy advocates, and partners with other relevant stakeholder groups. An exploratory study of state agency policy responses to address work-related musculoskeletal disorders is provided as a contemporary example to illustrate key points and to demonstrate the importance of selecting a relevant analytical framework based on the context of the policy issue under investigation. PMID:26450973

  20. Systematic differences of retail exchange rate spreads in some EU countries: the banks against financial integration. Valuutade jaekursside kursivahede süstemaatilised erinevused mõnedes Euroopa Liidu riikides: pangad versus finantsintegratsioon

    Directory of Open Access Journals (Sweden)

    Enn Listra

    2012-01-01

    Full Text Available An important policy goal in European Union has been integration of markets and economic convergence. The aim of this exploratory paper is to study pricing of currency exchange services based on bid-ask spreads in commercial banks and the policy implications of the delayed integration of banking markets. The currency rate spreads in different bank groups and countries are compared with each other. The main results of the study are that statistically significant differences exist in the spreads set by banking groups in different countries. All banking groups in the sample offer more favorable rates in Western countries indicating that the pricing policy of bank groups may be discriminatory. Further research is needed to understand the extent and the mechanism of it and to determine which policy measures may help to overcome the problem.

  1. Reproductive tourism in Argentina: clinic accreditation and its implications for consumers, health professionals and policy makers.

    Science.gov (United States)

    Smith, Elise; Behrmann, Jason; Martin, Carolina; Williams-Jones, Bryn

    2010-08-01

    A subcategory of medical tourism, reproductive tourism has been the subject of much public and policy debate in recent years. Specific concerns include: the exploitation of individuals and communities, access to needed health care services, fair allocation of limited resources, and the quality and safety of services provided by private clinics. To date, the focus of attention has been on the thriving medical and reproductive tourism sectors in Asia and Eastern Europe; there has been much less consideration given to more recent 'players' in Latin America, notably fertility clinics in Chile, Brazil, Mexico and Argentina. In this paper, we examine the context-specific ethical and policy implications of private Argentinean fertility clinics that market reproductive services via the internet. Whether or not one agrees that reproductive services should be made available as consumer goods, the fact is that they are provided as such by private clinics around the world. We argue that basic national regulatory mechanisms are required in countries such as Argentina that are marketing fertility services to local and international publics. Specifically, regular oversight of all fertility clinics is essential to ensure that consumer information is accurate and that marketed services are safe and effective. It is in the best interests of consumers, health professionals and policy makers that the reproductive tourism industry adopts safe and responsible medical practices. PMID:19508291

  2. Sustainable development, demography and sexual and reproductive health: inseparable linkages and their policy implications.

    Science.gov (United States)

    Herrmann, Michael

    2014-05-01

    The greatest challenge today is to meet the needs of current and future generations, of a large and growing world population, without imposing catastrophic pressures on the natural environment. Meeting this challenge depends on decisive policy changes in three areas: more inclusive economic growth, greener economic growth, and population policies. This article focuses on efforts to address and harness demographic changes for sustainable development, which are largely outside the purview of the current debate. Efforts to this end must be based on the recognition that demographic changes are the cumulative result of individual choices and opportunities, and that demographic changes are best addressed through policies that enlarge these choices and opportunities, with a focus on ensuring unrestricted and universal access to sexual and reproductive health information and services, empowering women to fully participate in social, economic and political life, and investing in the education of the younger generation beyond the primary level. The article provides a strong argument for why the Programme of Action that was agreed at the International Conference on Population and Development (ICPD) 20 years ago continues to hold important implications and lessons for the formulation of the post-2015 development agenda, which is expected to supersede the Millennium Development Goals (MDGs).

  3. Irrigation efficiency and water-policy implications for river-basin resilience

    Directory of Open Access Journals (Sweden)

    C. A. Scott

    2013-07-01

    Full Text Available Rising demand for food, fiber, and biofuels drives expanding irrigation withdrawals from surface- and groundwater. Irrigation efficiency and water savings have become watchwords in response to climate-induced hydrological variability, increasing freshwater demand for other uses including ecosystem water needs, and low economic productivity of irrigation compared to most other uses. We identify three classes of unintended consequences, presented here as paradoxes. Ever-tighter cycling of water has been shown to increase resource use, an example of the efficiency paradox. In the absence of effective policy to constrain irrigated-area expansion using "saved water", efficiency can aggravate scarcity, deteriorate resource quality, and impair river-basin resilience through loss of flexibility and redundancy. Water scarcity and salinity effects in the lower reaches of basins (symptomatic of the scale paradox may partly be offset over the short-term through groundwater pumping or increasing surface water storage capacity. However, declining ecological flows and increasing salinity have important implications for riparian and estuarine ecosystems and for non-irrigation human uses of water including urban supply and energy generation, examples of the sectoral paradox. This paper briefly examines policy frameworks in three regional contexts with broadly similar climatic and water-resource conditions – central Chile, southwestern US, and south-central Spain – where irrigation efficiency directly influences basin resilience. The comparison leads to more generic insights on water policy in relation to irrigation efficiency and emerging or overdue needs for environmental protection.

  4. Public policies for basic education and its implications for the teaching of music

    Directory of Open Access Journals (Sweden)

    Luis Ricardo Silva Queiroz

    2012-01-01

    Full Text Available Current educational policies in the country and the new definitions for the teaching of music in school, established from the law 11.768/2008, have made important issues concerning the area of music education today emerge . Considering this reality, this study analyzes public policies related to basic education in Brazil,reflecting on their implications for the teaching of music in school. The discussions presented in the text are based on literature and documental sources related to programs and actions directed at basic education in the country. The analysis covers the objectives, procedures and impacts of proposals of evaluation of educational achievement (IDEB, consolidation and strengthening of basic education (FNDE, FUNDEB, PDE, PAR, and integration of different educational levels regarding the formation of teachers (PARFOR, PRODOCÊNCIA, PIBID. From the analysis, it is evident that there is a significant set of programs and actions for basic education in the country and that music education increasingly needs to participate effectively in the definition and implementation of educational policies that can strengthen the area, but, above all, school education as a whole.

  5. Project-Based Market Competition and Policy Implications for Sustainable Developments in Building and Construction Sectors

    Directory of Open Access Journals (Sweden)

    Min-Ren Yan

    2015-11-01

    Full Text Available Building and construction sectors are significant contributors to the global economy, but their energy consumption necessitates greater commitment to sustainable developments. There is therefore a growing demand for green innovation in the form of cleaner production and policies to meet the modern requirements of sustainability. However, the nature in which public work is undertaken is in an environment of project-based market competition, whereby contractors routinely bid for contracts under specific project awarding systems, and variations are accompanied with the unique scope of individual projects before the final goods or services are delivered. A comprehensive understanding of the characteristics and contractors’ behavior in systems could help to identify the leverage points of policies. This paper proposes a system dynamics model, with quantitative analysis and simulations, to demonstrate the problems of a system with different project awarding systems and ineffective market performance. The framework of market efficiency and performance measures has been proposed to evaluate the project-based competition mechanism. Managerial policy implications for market efficiency and sustainable developments can thus be systematically discussed and compared through iterative computer simulations and scenario analysis.

  6. Can taxes tame the banks?

    DEFF Research Database (Denmark)

    Devereux, Michael P.; Johannesen, Niels; Vella, John

    In the wake of the financial crisis, a number of countries have introduced levies on bank borrowing with the aim of reducing risk in the financial sector. This paper studies the behavioral responses to the bank levies and evaluates the policy. We find that the levies induced banks to borrow less ...

  7. Size, Diversification and Risk: Preliminary Evidence from Commercial Banks in Pakistan

    Directory of Open Access Journals (Sweden)

    Ayesha Afzal

    2012-12-01

    Full Text Available The aim of this paper is to provide some preliminary evidence on relation between size, diversification and risk in commercial banks of Pakistan. Using a panel of Pakistani banks, we investigated whether bigger banks are better diversified than smaller banks.The results suggested that larger banks were more diversified than their smaller counterparts mainly on account of their outreach and size of credit portfolio. On the risk side, based on accounting and market based risk measures, we explored if there is any impact of diversification on risk. We could not deduce significant result in favor of accounting risk measure of impaired lending signaling that banks find no incentive in diversification of credit books. The market based measures of VaR and Default indicator were significantly related to diversification signifying that market participants consider diversification as a relevant tool for risk mitigation. These findings have policy implications for regulators and risk management to ensure stability in financial system.

  8. 12 CFR 614.4125 - Funding and discount relationships between Farm Credit Banks or agricultural credit banks and...

    Science.gov (United States)

    2010-01-01

    ... and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Bank... available must be recalculated without that ineligible loan. (b) The Farm Credit Bank or agricultural credit... consistent with the Farm Credit Bank's or agricultural credit bank's lending policies and loan...

  9. QUING WHY paper: Framing gender intersections in the European Union: what implications for the quality of intersectionality in policies?

    DEFF Research Database (Denmark)

    Agustin, Lise Rolandsen; Lombardo, Emanuela

    This paper explores the extent to which the emergence of an anti-discrimination policy in the European Union (EU) implies a shift in EU gender equality policies towards an intersectional approach. The frame analysis of EU gender equality policy documents shows that intersectional dimensions...... are increasingly present but they are treated implicitly and from a separate perspective, and the inclusion of a wide range of inequalities often implies a degendering of the policy content. We assess the implications of the identified intersectionality trends for the quality of intersectionality in gender...... equality policies and we suggest the practice of an ‘intersectionality impact assessment’ as a way to improve the quality of EU policy-making. In this regard, we particularly focus on the interface between the civil society and the EU institutions....

  10. Islamic Banking

    OpenAIRE

    BLÁHA, Jakub

    2014-01-01

    The aim of this bachelor thesis is to introduce the Islamic banking. Describing historical and religious background of Islam, the Islamic banking and Shari'ah law. Then presenting financing techniques used in the Islamic banking. Eventually describing and analysing the Islamic banking in Malaysia. Comparison between the Islamic banking and the conventional banking is given throughout the bachelor thesis.

  11. “后危机”时代中国银行业的竞争政策%Chinese Banking Industry's Competition Policy in “Post-crisis” Era

    Institute of Scientific and Technical Information of China (English)

    王国红

    2012-01-01

    People always misunderstand the banking competition policy due to the aware of the particularity of bank.Chinese banking industry's competition policy is still very weak.During the "post-crisis" era,we need to strengthen the competition of the banking industry policy.The competition of banking policy can be divided into the supply side and demand side of competition policy.As for the demand side of the competition policy,China urgently to enhance consumer protection policy and reduce consumer switching costs.As for the supply side of competition policies,China is badly in need of strengthening the institution construction in order to ensure of competitive market entry and exit construction and market-oriented reform of interest rate.%对银行特殊性的认识导致人们对银行业竞争政策产生了一些误解。中国银行业的竞争政策建设还十分薄弱,在"后危机"时代,尤其需要加强对银行业竞争政策的建设。银行业的竞争政策可分为供给边的竞争政策和需求边的竞争政策,对需求边的竞争政策,中国目前急需加强消费者保护政策和降低消费者转换成本的政策;对供给边的竞争政策,中国目前急需加强确保可竞争性市场的进入与退出规则的建设和利率市场化改革建设。

  12. Low enrolment in Ugandan Community Health Insurance Schemes: underlying causes and policy implications

    Directory of Open Access Journals (Sweden)

    Criel Bart

    2007-07-01

    Full Text Available Abstract Background Despite the promotion of Community Health Insurance (CHI in Uganda in the second half of the 90's, mainly under the impetus of external aid organisations, overall membership has remained low. Today, some 30,000 persons are enrolled in about a dozen different schemes located in Central and Southern Uganda. Moreover, most of these schemes were created some 10 years ago but since then, only one or two new schemes have been launched. The dynamic of CHI has apparently come to a halt. Methods A case study evaluation was carried out on two selected CHI schemes: the Ishaka and the Save for Health Uganda (SHU schemes. The objective of this evaluation was to explore the reasons for the limited success of CHI. The evaluation involved review of the schemes' records, key informant interviews and exit polls with both insured and non-insured patients. Results Our research points to a series of not mutually exclusive explanations for this under-achievement at both the demand and the supply side of health care delivery. On the demand side, the following elements have been identified: lack of basic information on the scheme's design and operation, limited understanding of the principles underlying CHI, limited community involvement and lack of trust in the management of the schemes, and, last but not least, problems in people's ability to pay the insurance premiums. On the supply-side, we have identified the following explanations: limited interest and knowledge of health care providers and managers of CHI, and the absence of a coherent policy framework for the development of CHI. Conclusion The policy implications of this study refer to the need for the government to provide the necessary legislative, technical and regulative support to CHI development. The main policy challenge however is the need to reconcile the government of Uganda's interest in promoting CHI with the current policy of abolition of user fees in public facilities.

  13. 12 CFR 614.4470 - Loans subject to bank approval.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans subject to bank approval. 614.4470 Section 614.4470 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Loan Approval Requirements § 614.4470 Loans subject to bank approval. (a) The following...

  14. 金融危机后日本银行货币政策框架演变与启示%The Framework and Inspiration in Monetary Policy of Bank of Japan after the Global Financial Crisis

    Institute of Scientific and Technical Information of China (English)

    武石桥

    2014-01-01

    为了应对全球性金融危机对金融系统的冲击,日本银行采用了极为宽松的货币政策,在灵活调整货币政策框架的同时运用了大量传统和非传统的政策工具。文章主要从货币政策目标、货币政策工具以及货币政策传导机制三个方面考察了金融危机后日本银行从传统货币政策体系框架向量化货币政策体系框架的演变过程。日本银行的政策实践对我国进一步完善货币政策框架有一定的借鉴和启示。%In order to cope with the global financial crisis on the impact to the financial system, the Bank of Japan adopted a very loose monetary policy. While adding flexibility to adjust the monetary policy framework, Bank of Japan carried out a large number of traditional and non-traditional policies. From the perspective of monetary policy objective, monetary policy tools and monetary policy transmission mechanism, this article illustrates the process of evolution of Bank of Japan, which changes from the traditional monetary policy framework to the framework of Quantitative easing policy after the financial crisis. The practice of Bank of Japan’s policy gives us some inspirations on further improving our monetary policy framework.

  15. Accountability of central banks: aspects and quantification

    Directory of Open Access Journals (Sweden)

    J. DE HAAN

    1999-06-01

    Full Text Available The work examines the relationship between central bank independence and accountability. The authors do this by using an indicator for central bank accountability based on the laws of 16 central banks. Central bank accountability is identified as having three distinct features, namely, the explicit definition and ranking of the objectives of monetary policy, the transparency of the actual monetary policy, and the final responsibility to monetary policy.

  16. Return migration in Western Europe: current policy trends and their implications, in particular for the second generation.

    Science.gov (United States)

    Entzinger, H

    1985-06-01

    Return migration in Western Europe is examined, with a focus on government policy trends and their implications. The need for international cooperation between sending and receiving countries is emphasized. The effects of migration policies on migrants now and in the future are analyzed. Particular attention is paid to the questions posed by the expressed desire of a significant percentage of second-generation migrants to return to the countries of their parents' origin. (summary in FRE, SPA)

  17. Policy and programmatic implications of task shifting in Uganda: a case study

    Directory of Open Access Journals (Sweden)

    Dambisya Yoswa M

    2012-03-01

    Full Text Available Abstract Background Uganda has a severe health worker shortage and a high demand for health care services. This study aimed to assess the policy and programmatic implications of task shifting in Uganda. Methods This was a qualitative, descriptive study through 34 key informant interviews and eight (8 focus group discussions, with participants from various levels of the health system. Results Policy makers understood task shifting, but front-line health workers had misconceptions on the meaning and intention(s of task shifting. Examples were cited of task shifting within the Ugandan health system, some formalized (e.g. psychiatric clinical officers, and some informal ones (e.g. nurses inserting IV lines and initiating treatment. There was apparently high acceptance of task shifting in HIV/AIDS service delivery, with involvement of community health workers (CHW and PLWHA in care and support of AIDS patients. There was no written policy or guidelines on task shifting, but the policy environment was reportedly conducive with plans to develop a policy and guidelines on task shifting. Factors favouring task shifting included successful examples of task shifting, proper referral channels, the need for services, scarcity of skills and focused initiatives such as home based management of fever. Barriers to task shifting included reluctance to change, protection of professional turf, professional boundaries and regulations, heavy workload and high disease burden, poor planning, lack of a task shifting champion, lack of guidelines, the name task shifting itself, and unemployed health professionals. There were both positive and negative views on task shifting: the positive ones cast task shifting as one of the solutions to the dual problem of lack of skills and high demand for service, and as something that is already happening; while negative ones saw it as a quick fix intended for the poor, a threat to quality care and likely to compromise the health

  18. The Effects of Monetary Policy on Bank Risk:An Analysis from Literature Research%货币政策对银行风险的影响--基于文献研究角度的分析

    Institute of Scientific and Technical Information of China (English)

    耿中元

    2014-01-01

    The impact of monetary policy on bank risk is a key element that needs to be considered in building financial macro-prudential regulatory framework in China.The effects of monetary policy on bank risk have become a hot debate in the academic and practical circles since the international fi-nancial crisis in 2008.The effects of monetary policy on bank risk include the passive effects of mone-tary policy on bank risk and active responses of monetary policy to bank risk and display a non-linear characteristic.STR model,a cutting-edge area of econometrics,has advantages in the study of non-linear economic behavior.Current researches on the effects of monetary policy on bank risk are carried out basically within a linear framework.Future feasible directions of researches on the issue are to clarify the mechanisms and ways of non-linear effects of monetary policy on bank risk and to build desirable non-linear STR models to test empirically the quantitative characteristic of the passive effects and active responses of monetary policy to bank risk.%货币政策对银行风险的影响,是中国构筑金融宏观审慎管理框架要考虑的关键要素。2008年国际金融危机发生后,货币政策对银行风险的影响成为争论的热点和焦点。货币政策对银行风险的影响,有被动影响与主动反应两种情形,具有非线性的特征。计量经济学前沿领域的 STR 模型,在研究非线性经济行为方面表现出了优越性。现有文献基本上在线性框架下研究货币政策对银行风险的影响。阐明货币政策对银行风险非线性影响的机理和方式,构建合意的非线性 STR模型,检验货币政策对银行风险的被动影响和主动反应的数量特征,是未来可行的研究方向。

  19. Optimised to Fail: Card Readers for Online Banking

    Science.gov (United States)

    Drimer, Saar; Murdoch, Steven J.; Anderson, Ross

    The Chip Authentication Programme (CAP) has been introduced by banks in Europe to deal with the soaring losses due to online banking fraud. A handheld reader is used together with the customer’s debit card to generate one-time codes for both login and transaction authentication. The CAP protocol is not public, and was rolled out without any public scrutiny. We reverse engineered the UK variant of card readers and smart cards and here provide the first public description of the protocol. We found numerous weaknesses that are due to design errors such as reusing authentication tokens, overloading data semantics, and failing to ensure freshness of responses. The overall strategic error was excessive optimisation. There are also policy implications. The move from signature to PIN for authorising point-of-sale transactions shifted liability from banks to customers; CAP introduces the same problem for online banking. It may also expose customers to physical harm.

  20. A qualitative exploration of the human resource policy implications of voluntary counselling and testing scale-up in Kenya: applying a model for policy analysis

    Directory of Open Access Journals (Sweden)

    Sakwa James

    2011-10-01

    Full Text Available Abstract Background Kenya experienced rapid scale up of HIV testing and counselling services in government health services from 2001. We set out to examine the human resource policy implications of scaling up HIV testing and counselling in Kenya and to analyse the resultant policy against a recognised theoretical framework of health policy reform (policy analysis triangle. Methods Qualitative methods were used to gain in-depth insights from policy makers who shaped scale up. This included 22 in-depth interviews with Voluntary Counselling and Testing (VCT task force members, critical analysis of 53 sets of minutes and diary notes. We explore points of consensus and conflict amongst policymakers in Kenya and analyse this content to assess who favoured and resisted new policies, how scale up was achieved and the importance of the local context in which scale up occurred. Results The scale up of VCT in Kenya had a number of human resource policy implications resulting from the introduction of lay counsellors and their authorisation to conduct rapid HIV testing using newly introduced rapid testing technologies. Our findings indicate that three key groups of actors were critical: laboratory professionals, counselling associations and the Ministry of Health. Strategic alliances between donors, NGOs and these three key groups underpinned the process. The process of reaching consensus required compromise and time commitment but was critical to a unified nationwide approach. Policies around quality assurance were integral in ensuring standardisation of content and approach. Conclusion The introduction and scale up of new health service initiatives such as HIV voluntary counselling and testing necessitates changes to existing health systems and modification of entrenched interests around professional counselling and laboratory testing. Our methodological approach enabled exploration of complexities of scale up of HIV testing and counselling in Kenya. We

  1. Supervising Cross-Border Banks: Theory, Evidence and Policy (Revised version of EBC Discussion Paper 2011-033)

    OpenAIRE

    Beck, T.H.L.; Todorov, R.I.; Wagner, W.B.

    2012-01-01

    Abstract: This paper analyzes the distortions that banks’ cross-border activities, such as foreign assets, deposits and equity, can introduce into regulatory interventions. We find that while each individual dimension of cross-border activities distorts the incentives of a domestic regulator, a balanced amount of cross-border activities does not necessarily cause inefficiencies, as the various distortions can offset each other. Empirical analysis using bank-level data from the recent crisis p...

  2. Supervising Cross-Border Banks: Theory, Evidence and Policy (Revised version of CentER Discussion Paper 2011-127)

    OpenAIRE

    Beck, T.H.L.; Todorov, R.I.; Wagner, W.B.

    2012-01-01

    Abstract: This paper analyzes the distortions that banks’ cross-border activities, such as foreign assets, deposits and equity, can introduce into regulatory interventions. We find that while each individual dimension of cross-border activities distorts the incentives of a domestic regulator, a balanced amount of cross-border activities does not necessarily cause inefficiencies, as the various distortions can offset each other. Empirical analysis using bank-level data from the recent crisis p...

  3. BANK LENDING EVOLUTION IN ROMANIA DURING 2008-2015

    Directory of Open Access Journals (Sweden)

    Valentin Mihai LEOVEANU

    2016-06-01

    Full Text Available The period of global nuisance of banking and financial sector during the international financial crisis continues to have overwhelming implications in the current period, which requires careful research of monetary and financial phenomena locally and globally. In this sense, this article aims to highlight key aspects of the Romanian investment environment in the context of international economic environment and monetary policy transmission mechanisms in the Romanian economy. Following this approach, the study focuses on analyzing the financial position of banks operating in Romania, the evolution of lending by type of entity and positive/negative aspects about the impact of monetary policy measures and the NBR regulations on bank lending. The study shows conclusively the positive and the negative effects of lending evolution on the Romanian economy, on the solvency and bankruptcy risk of Romanian companies and on the behavior of debtors and creditors in credit relationships.

  4. The Neurobiology of "Food Addiction" and Its Implications for Obesity Treatment and Policy.

    Science.gov (United States)

    Carter, Adrian; Hendrikse, Joshua; Lee, Natalia; Yücel, Murat; Verdejo-Garcia, Antonio; Andrews, Zane; Hall, Wayne

    2016-07-17

    There is a growing view that certain foods, particularly those high in refined sugars and fats, are addictive and that some forms of obesity can usefully be treated as a food addiction. This perspective is supported by a growing body of neuroscience research demonstrating that the chronic consumption of energy-dense foods causes changes in the brain's reward pathway that are central to the development and maintenance of drug addiction. Obese and overweight individuals also display patterns of eating behavior that resemble the ways in which addicted individuals consume drugs. We critically review the evidence that some forms of obesity or overeating could be considered a food addiction and argue that the use of food addiction as a diagnostic category is premature. We also examine some of the potential positive and negative clinical, social, and public policy implications of describing obesity as a food addiction that require further investigation. PMID:27296500

  5. Oral Chemotherapy in Patients with Hematological Malignancies-Care Process, Pharmacoeconomic and Policy Implications.

    Science.gov (United States)

    Betcher, Jeffrey; Dow, Elizabeth; Khera, Nandita

    2016-08-01

    Patients with hematologic malignancies are increasing being prescribed oral anticancer medications (OAMs) and/or biologics. These newer targeted OAMs are associated with a host of practical and pharmacoeconomic implications for patients and healthcare providers. Issues such as safety, procurement challenges, and the need for proactive involvement of all stakeholders to optimize adherence for successful use of these agents are increasingly being recognized. The current reactive model is negatively impacting the patient experience through delays in care, financial toxicity, and decreased safety. It also impacts the healthcare providers in the form of lost revenue and staff burnout due to labor-intensive procurement and patient financial assistance burdens. In this review, we describe some of the issues identified and discuss potential strategies to improve patient access, minimize healthcare burden, and review current policy initiatives and patient advocacy efforts to reduce financial toxicity. PMID:27086140

  6. Teacher education policies, practices, and reform in Scotland: Implications in the Indian context

    Directory of Open Access Journals (Sweden)

    Pradeep Kumar Misra

    2015-12-01

    Full Text Available India, a country of 1.27 billion, nowadays needs reforms, improvements, and new approaches in teacher education to cater to the demands of changing economy and society. This call to improve teacher education becomes more significant considering the fact that 50% of India’s current population is below the age of 25 and over 65% below 35. There are two ways to proceed in this direction. First, making an internal review and assessment of present scenario of teacher education and suggesting need-based measures. The second one is to learn from those countries that have recently reviewed their teacher education systems and are continuously working for the betterment of teacher education. Following second approach, present paper analyzes teacher education policies, practices, and reform in Scotland, argues that concerns and commitments to reform teacher education in India and Scotland are similar, and suggests implications of Scottish experiences in the Indian context.

  7. Interviewing children in custody cases: implications of research and policy for practice.

    Science.gov (United States)

    Saywitz, Karen; Camparo, Lorinda B; Romanoff, Anna

    2010-01-01

    Research on child interviewing has burgeoned over the past 25 years as expectations about children's agency, competence, and participation in society have changed. This article identifies recent trends in research, policy, and theory with implications for the practice of interviewing children in cases of contested divorce and for the weight to be given the information children provide. A number of fields of relevant research are identified, including studies of families who have participated in the family law system, studies of child witnesses in the field, experimental studies of the effects of interview techniques on children's memory and suggestibility, and ethnographic methods that elicit children's views of their own experiences. Finally, a set of 10 principles for practice are delineated based on the best available science.

  8. EMPIRICAL APPROACH UPON THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE AND INFLATION IN DEVELOPED AND DEVELOPING COUNTRIES

    Directory of Open Access Journals (Sweden)

    Dumiter Florin Cornel

    2012-07-01

    Full Text Available Central bank independence has become over time one of the key concepts in modern theory and policy. Most economists agree that central bank independence is desirable because it helps achieving and maintaining the long – term goal of price stability. Although one might think about alternative mechanisms to reach lower inflation rates, central bank independence is clearly the most often recomended. The empirical trends upon a more independent central bank with a more transparent and accountable monetary policy regime has emerged in economic literature regarding central banking and monetary economics. In recent years, starting from the Maastricht Treaty central bank independence has become the panacea of the monetary economics and monetary policy approaches. Moreover it is important to analyze and assess the impact of this key issue in central banking upon the inflation performances of the central banks. In this article we provide a qualitative overview upon some recent trends in the central bank independence field: does it still matter? How can be it evaluate and stress it’s impact upon macroeconomic performances, especially upon inflation. As we can observe in the economic literature upon central bank independence there are several approaches to use several indices in order to measure this qualitative and quatitative institutional variables. The most important debate is to eliminate the gap between de jure and de facto independence in order to flatten the measuring of institutional aspects, the legal implication, the constitutional facts and the actual practices of the central banks. Finally, we suggest that according to the new index for measuring central bank independence and inflation targeting index we can evaluate more accurate the degree of the de jure and de facto independence and stress the impact on inflation performance with a case study for ten developed countries and ten developing countries.

  9. Monetary policy,risk-taking of banks and super efficiency-An Empirical Study Based on Panel Data of Chinese Commercial Banks%货币政策、风险承担与银行超效率*--基于中国商业银行面板数据的实证研究

    Institute of Scientific and Technical Information of China (English)

    李金培; 吕德宏; 黄亦炫

    2014-01-01

    基于2002—2012年中国11家主要上市商业银行的面板数据,利用 SBM超效率模型和动态面板数据 GMM模型,研究了货币政策对风险承担下中国商业银行超效率的影响问题。结果表明:样本银行的超效率水平逐年提高且差异不大,超效率水平呈现倒“U”型变化趋势;货币政策对风险承担下商业银行的超效率均呈现负向关系且影响显著;风险承担因素对银行超效率的测量十分重要,并且货币政策对风险承担下的银行超效率具有重要影响。因此,从促进经济增长和金融发展的角度而言,中央银行进行货币政策调整时,应在宏观层面审慎监管风险承担下中国商业银行的效率。%Based on the panel data of 11 major listed commercial banks in China,using Super-SBM model and GMM dynamic panel data model,the paper studies the impact of monetary policy on Chinese commercial banks under the bank risk-taking.The super efficiency level of 11 banks increases year by year and the difference is small,the super efficiency level shows a trend of inverted u-shaped,the commercial banks’super efficiency value is underestimated without the bank risk-taking;there is a significantly negative relationship between monetary policy and super efficiency level of commercial banks under bank risk-taking.Risk factors are important for Chinese commercial banks’super efficiency measurement,and monetary policy has important influence on super efficiency of commercial banks under the bank risk-taking.We should improve the efficiency of Chinese commercial banks under the risk-taking from the perspective of macro-prudential regulation when the central bank adjusts the monetary policy.

  10. THE LEGAL FRAMEWORK FOR THE IMPLEMENTATION OF IFRS AND THEIR IMPLICATIONS IN THE BANKING SYSTEM FROM ROMANIA

    Directory of Open Access Journals (Sweden)

    Anisoara Apetri

    2015-05-01

    Full Text Available At the level of the European financial system, banks are the basic institutions which provide financing for the private sector, it preferring bank financing at the expense of financing through the capital market. The current stage of the international accounting harmonisation process focuses on obtaining similar economic decisions taken by investors and other users of the financial statements – decisions based on equivalent financial statements, prepared according to the set of International Financial Reporting Standards - IFRS developed by the IASB. Therefore, the aim of this study is to provide an overview of the implementation of IFRS in the world as well as in Romania by providing some information about the adoption process and the issues identified through the implementation of IFRS, especially in the banking field in Romania.

  11. “Oil price shocks and fiscal policy management: Implications for Nigerian economic planning (1980-2009

    Directory of Open Access Journals (Sweden)

    Aremo, A.G.

    2013-12-01

    Full Text Available High Oil price fluctuations have been a common feature in Nigeria and these have considerably constituted a major source of fiscal policy disturbance to the Nigerian economy as well as the economies of other oil producing countries of the world. The over-reliance on oil production for income generation combined with local undiversified revenue and export bases is an issue for concern. This has policy implications for economic policy and in particular fiscal policy management. The motivation for this study is to examine the effect of oil price shock on fiscal policy in the country. Using structural vector autoregression (SVAR methodology, the effects of crude oil price fluctuations on two major key fiscal policy variables (government expenditure (GEXP and government revenue (GREV, money supply (MS2 and GDP were examined. The results showed that oil prices have significant effect on fiscal policy in Nigeria within the study period of 1980:1 to 2009:4. The study also revealed that oil price shock affects GREV and GDP first before reflecting on fiscal expenditure. The study suggests strongly that diversification of the economy is necessary in order to minimize the consequences of oil price fluctuations on government revenue, by implication government expenditure planning in the country.

  12. Work mistreatment and hospital administrative staff: policy implications for healthier workplaces.

    Science.gov (United States)

    Harlos, Karen P; Axelrod, Lawrence J

    2008-08-01

    Research on work life quality in hospitals has focused on how nurses and physicians perceive or react to work conditions. We extend this focus to another major professional group - healthcare administrators - to learn more about how these employees experience the work environment. Administrators merit such attention given their key roles in sustaining the financial health of the hospital and in fulfilling management functions efficiently to support consistent, high-quality care. Specifically, we examined mistreatment in the workplace experienced by administrative staff from a hospital in a large Canadian city. Three dimensions of mistreatment - verbal abuse, work obstruction and emotional neglect - have been associated with diminished well-being, work satisfaction and organizational commitment, along with stronger intent to leave. In this paper, we provide additional support for interpreting these three dimensions as mistreatment and report on their frequencies in our sample. We then consider implications for policy development (e.g., communication and conflict resolution skills training, mentoring programs, respect-at-work policies) to make workplaces healthier for these neglected but important healthcare professionals. PMID:19377340

  13. International experiences of ethanol as transport fuel: Policy implications for India

    International Nuclear Information System (INIS)

    The need for biofuels, particularly liquid ones like ethanol and biodiesel, for transport has been felt by most of the countries and their governments have been trying to promote these fuels. Compared to petroleum, the use of biofuels for transport is still quite low in nearly every country. By far the largest production and use is of ethanol in the United States and Brazil, where similar volumes are used-many times higher than in any other country. Even then, ethanol represents less than 3% of transport fuel in USA and a little more than 50% of gasoline demand (by volume) in Brazil. However many countries, including the USA, Canada, several European countries (and the European Union), Australia and Japan including India are considering or have adopted a variety of policies that could result in much higher biofuels use over the next decade. This paper makes an attempt to draw upon the cross-country international experiences of ethanol as transport fuel to suggest policy implications for India

  14. Oral health policy and programmatic implications: lessons from ICS-II.

    Science.gov (United States)

    Andersen, R M; Davidson, P L; Nakazono, T T

    1997-05-01

    The conceptual model used in the ICS-II USA Ethnicity and Aging project helps to identify who among the elderly should be targeted for oral health promotion initiatives and the kinds of initiatives most likely to promote positive oral health outcomes. Outcomes have been measured in this study as perceived by the individual and as clinically assessed by the oral epidemiologists. For policy purposes, achieving both types of outcomes is important. A typology of oral health promotion priorities is used to rank the diverse racial-ethnic groups. In the analysis, groups with both low perceived and low evaluated oral health status receive highest priority. By these criteria, the older Native American populations have the highest priority, followed, in order, by Hispanics, African-Americans, and non-Hispanic Whites. Policy implications of the empirical analyses presented in earlier articles are discussed by use of the conceptual model and the typology of oral health promotion priorities. Having a usual source of care and/or regular dental visits appears to be a promising avenue for the promotion of better-perceived oral health status among most older ethnic groups. Improved oral hygiene practices, as represented by both regular toothbrushing and dental floss use, promote better clinically evaluated oral health status among many older ethnic groups.

  15. WTO Agreement on Agriculture and its Implication on Rural Development Policies in Russia

    Directory of Open Access Journals (Sweden)

    Erokhin Vasily

    2014-07-01

    Full Text Available The paper aims at overview of the history and major contents of the Agreement on Agriculture of the World Trade Organization. Special attention is paid to implications of the Agreement for agricultural and trade policies in developing countries, including Russia, recently accessed the WTO. The differential treatment that developing countries receive under the agreement is investigated. The paper includes an overview of the recently adopted State Program of the Russian Federation for Development of Agriculture and Regulation of Agricultural Commodities Markets in 2013-2020. The research considers four applications of the given State Program: compliance with WTO requirements, state support of agriculture, provision of food security, and ensurance of sustainable rural development. The paper results in the conclusion that state policies in the sphere of rural development have to evolve beyond the traditional, sector-based model, with its almost exclusive focus on agriculture. Contemporary set of tools to ensure sustainable rural development should be based on the multi-sectoral strategies and programs that identify and better exploit the development potential of rural area through a variety of factors: national food security, agricultural production, liberalization of trade and foreign economic activities, support of local producers and rural households, rural infrastructure, environmental and recreational potential.

  16. Diverse policy implications for future ozone and surface UV in a changing climate

    Science.gov (United States)

    Butler, A. H.; Daniel, J. S.; Portmann, R. W.; Ravishankara, A. R.; Young, P. J.; Fahey, D. W.; Rosenlof, K. H.

    2016-06-01

    Due to the success of the Montreal Protocol in limiting emissions of ozone-depleting substances, concentrations of atmospheric carbon dioxide, nitrous oxide, and methane will control the evolution of total column and stratospheric ozone by the latter half of the 21st century. As the world proceeds down the path of reducing climate forcing set forth by the 2015 Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 21), a broad range of ozone changes are possible depending on future policies enacted. While decreases in tropical stratospheric ozone will likely persist regardless of the future emissions scenario, extratropical ozone could either remain weakly depleted or even increase well above historical levels, with diverse implication for ultraviolet (UV) radiation. The ozone layer’s dependence on future emissions of these gases creates a complex policy decision space for protecting humans and ecosystems, which includes unexpected options such as accepting nitrous oxide emissions in order to maintain historical column ozone and surface UV levels.

  17. Organic nitrogen storage in mineral soil: Implications for policy and management.

    Science.gov (United States)

    Bingham, Andrew H; Cotrufo, M Francesca

    2016-05-01

    Nitrogen is one of the most important ecosystem nutrients and often its availability limits net primary production as well as stabilization of soil organic matter. The long-term storage of nitrogen-containing organic matter in soils was classically attributed to chemical complexity of plant and microbial residues that retarded microbial degradation. Recent advances have revised this framework, with the understanding that persistent soil organic matter consists largely of chemically labile, microbially processed organic compounds. Chemical bonding to minerals and physical protection in aggregates are more important to long-term (i.e., centuries to millennia) preservation of these organic compounds that contain the bulk of soil nitrogen rather than molecular complexity, with the exception of nitrogen in pyrogenic organic matter. This review examines for the first time the factors and mechanisms at each stage of movement into long-term storage that influence the sequestration of organic nitrogen in the mineral soil of natural temperate ecosystems. Because the factors which govern persistence are different under this newly accepted paradigm we examine the policy and management implications that are altered, such as critical load considerations, nitrogen saturation and mitigation consequences. Finally, it emphasizes how essential it is for this important but underappreciated pool to be better quantified and incorporated into policy and management decisions, especially given the lack of evidence for many soils having a finite capacity to sequester nitrogen. PMID:26874768

  18. Living with a carbon allowance: The experiences of Carbon Rationing Action Groups and implications for policy

    International Nuclear Information System (INIS)

    Carbon Rationing Action Groups (CRAGs) are grassroots voluntary groups of citizens concerned about climate change, who set themselves a carbon allowance each year and provide support to members seeking to reduce their direct carbon emissions from household energy use and personal transport. Some groups have a financial penalty for carbon emitted in excess of the ration, and systems whereby under-emitters are rewarded using the monies collected from over-emitters. CRAGs therefore operate the nearest scheme in existence to the proposed policy of Personal Carbon Trading (PCT). This paper reports the findings of a study of the opinions and experiences of individuals involved in CRAGs (‘CRAGgers’). In general, interviewees have made significant behavioural changes and emissions reductions, but many would be unwilling to sell spare carbon allowances within a national PCT system. The choices made by CRAGgers with respect to the design and operation of their ‘carbon accounting’, their experiences of reducing fossil fuel energy use, and their views on personal carbon trading at CRAG and national level are discussed. Some possible implications for PCT and other policies are considered, as well as the limitations of CRAGs in informing an understanding of the potential impacts and operation of PCT. - Highlights: ► Reports opinions and experiences of members of Carbon Rationing Action Groups (CRAGs). ► Many interviewees have made significant reductions to their carbon footprint. ► CRAGs offer insights into individuals' experiences of living with a carbon allowance. ► Most CRAGs involve highly motivated individuals and avoid trading. ► They nonetheless offer some insights into Personal Carbon Trading and other policies.

  19. Consumer perceptions of smart grid development: Results of a Hong Kong survey and policy implications

    International Nuclear Information System (INIS)

    Consumers have a major role to play in smart grid technologies which can be instrumental in addressing climate change and energy challenges. However, little is known about how consumers perceive, and how they might respond to the opportunities that smart grid technologies offer. This paper reports the results from a Hong Kong survey (n=505). It contributes to the literature by providing a better understanding of the perceptions and behaviour of electricity consumers about the possible deployment of smart grids. Our results indicate that Hong Kong consumers generally welcomed smart grid technologies and had a preference for energy saving, energy efficiency and renewable energy while they showed a high level of opposition to nuclear power. They displayed an interest in playing a much more informed and active role in energy decision-making, but they were sensitive to tariff increases. Motivations and barriers for consumers to support smart grid developments are also discussed. We conclude with a discussion of policy implications for effective consumer engagement. More policy attention is needed on demand-side measures, introducing institutional and regulatory changes, and modifying relationships between consumers, the government and utilities. - Highlights: ► Consumers have a major role in smart grid technologies. ► This paper reports findings of a Hong Kong survey on how consumers perceive and respond. ► Hong Kong consumers are interested in being informed and playing an active role in energy decision-making. ► Motivations and barriers are discussed. ► Policy recommendations for effective consumer engagement are suggested.

  20. Access to Print Literacy for Children and Young People with Visual Impairment: Implications for Policy and Practice

    Science.gov (United States)

    Douglas, Graeme; McLinden, Mike; Farrell, Ann Marie; Ware, Jean; McCall, Steve; Pavey, Sue

    2011-01-01

    This article considers the concept of access in the education of visually impaired children and young people, with particular reference to print literacy. The article describes implications for teaching and policy at various levels of the educational process: classroom practice; broader teaching and curriculum requirements (including service…

  1. When Duty Calls: The Implications of Social Justice Work for Policy, Education, and Practice in the Mental Health Professions. Reactions

    Science.gov (United States)

    Kiselica, Mark S.

    2004-01-01

    In reaction to the pioneering model of social justice education in counseling psychology described by Goodman, Liang, Helms, Latta, Sparks, and Weintraub, several implications of social justice work for policy, education, and practice in the mental health professions are suggested. Specifically, it is recommended that mental health scientists and…

  2. An Enterprising Approach to Regional Growth: Implications for Policy and the Role of VET--Support Document

    Science.gov (United States)

    Garlick, Steve; Taylor, Michael; Plummer, Paul

    2007-01-01

    "An Enterprising Approach to Regional Growth: Implications for Policy and the Role of Vocational Education and Training" explores patterns of regional economic growth in Australia over the period 1984 to 2002 with the aim of identifying the drivers of variation in regional growth; the research also aimed to identify regional opportunities and the…

  3. Threats to the Sustainability of the Outsourced Call Center Industry in the Philippines: Implications for Language Policy

    Science.gov (United States)

    Friginal, Eric

    2009-01-01

    This study overviews current threats to the sustainability of the outsourced call center industry in the Philippines and discusses implications for macro and micro language policies given the use of English in this cross-cultural interactional context. This study also summarizes the present state of outsourced call centers in the Philippines, and…

  4. Farmers' adoption of maize (Zea mays L.). Hybrids and persistence of landraces in Southwest China: implications for policy and breeding

    NARCIS (Netherlands)

    Li, Jingsong; Lammerts Van Bueren, E.; Jiggins, Janice; Leeuwis, C.

    2012-01-01

    This paper examines changes in the distribution of maize hybrids and landraces in the mountainous areas of southwest China over 1998–2008, farmers’ reasons for cultivar adoption and the implications for national policies in relation to seed production and breeding, based on baseline data and a surve

  5. A Case Study with an Identified Bully: Policy and Practice Implications

    Directory of Open Access Journals (Sweden)

    Huddleston, Lillie

    2011-07-01

    Full Text Available Objective: Bullying is a serious public health problem that may include verbal or physical injury as well as social isolation or exclusion. As a result, research is needed to establish a database for policies and interventions designed to prevent bullying and its negative effects. This paper presented a case study that contributed to the literature by describing an intervention for bullies that has implications for research, practice and related policies regarding bullying.Methods: An individualized intervention for an identified bully was implemented using the Participatory Culture-Specific Intervention Model (PCSIM; Nastasi, Moore, & Varjas, 2004 with a seventh-grade middle school student. Ecological and culture-specific perspectives were used to develop and implement the intervention that included psychoeducational sessions with the student and consultation with the parent and school personnel. A mixed methods intervention design was used with the following informants: the target student, the mother of the student, a teacher and the school counselor. Qualitative data included semi-structured interviews with the parent, teacher and student, narrative classroom observations and evaluation/feedback forms filled out by the student and interventionist. Quantitative data included the following quantitative surveys (i.e., Child Posttraumatic Stress Reaction Index [CPTS-RI] and the Behavior Assessment Scale for Children, 2nd Edition. Both qualitative and quantitative data were used to evaluate the acceptability, integrity and efficacy of this intervention.Results: The process of intervention design, implementation and evaluation are described through an illustrative case study. Qualitative and quantitative findings indicated a decrease in internalizing, externalizing and bullying behaviors as reported by the teacher and the mother, and a high degree of acceptability and treatment integrity as reported by multiple stakeholders.Conclusion: This case

  6. 我国货币政策对银行贷款行为分析%Analysis on Impact of China' s Monetary Policy on Bank Lending Behavior

    Institute of Scientific and Technical Information of China (English)

    李树生

    2011-01-01

    分析了我国近几年在不同经济形势下,所实施的货币政策工具(贷款基准利率和存款准备金率)与商业银行贷款的关系,并用格兰杰因果检验和回归分析论证了贷款基准利率和存款准备金率尤其是贷款基准利率对银行贷款行为有重要的调控作用。%This paper analyzes the relation between monetary policy tools of government (benchmark interest rate for loan and deposit reserve ratio) and lending behavior of commercial bank under different economic circumstances in the past few years, and Granger causality test and regression analysis demonstrates that benchmark interest rate for loan and the deposit reserve ratio, especially the latter one plays an important regulating role in bank lending behavior.

  7. The Bank Lending Channel: Evidence from Australia

    Directory of Open Access Journals (Sweden)

    Luke Liu

    2014-06-01

    Full Text Available This study explores how monetary policy changes flow through the banking sector in Australia. Drawing on data between 2004 and 2010, we divide banks into three groups according to their size, and examine the impact of that cash rate change on lending of different types of loans. We find the response of bank lending after a monetary policy change varies with the size of the bank as well as the types of loan. Smaller banks are more sensitive to policy rate changes, and household loans, government loans and intra-group loans are less responsive to monetary policy compared with financial and non-financial loans.

  8. Politica bancaria e sviluppo economico: rileggendo l'era menichelliana e quella attuale (Banking policy and economic development: re-reading the menichellian era and the present

    Directory of Open Access Journals (Sweden)

    Mario Sarcinelli

    2012-04-01

    Full Text Available Il basso tasso di crescita dell’Italia, anche nel contesto internazionale ed europeo, ha spinto a confrontare gli anni ’50 con gli ultimi dieci o quindici. Dall’analisi emerge che, se si esclude l’iniziale liberalizzazione del commercio internazionale, il periodo che vide la più vigorosa crescita dell’Italia fu caratterizzato dall’economia mista, da monopoli pubblici e posizioni private dominanti, da una politica monetaria e bancaria basata su controlli diretti ed esercizi di persuasione morale individuale, tutte condizioni oggi ritenute sfavorevoli alla crescita. Al contrario, nella fase attuale l’enfasi è stata sul modello di economia liberale, con liberalizzazioni, privatizzazioni di imprese produttive e di banche, politiche incentrate sugli incentivi e sul mercato. Purtroppo, la scienza economica non ha ancora trovato il paradigma generale che spiega la ricchezza delle nazioni a prescindere dal contesto e dagli uomini che lo animano.  The low growth rate of Italy, also in international and European context, has led to compare the 50s with the last ten or fifteen. The analysis shows that, apart from the initial liberalization of international trade, the period that saw the most vigorous growth in Italy was characterized from a mixed economy, with public monopolies and dominant positions private, from a monetary and banking policy based of direct controls and exercises of individual moral suasion, all conditions previously deemed unfavorable to growth. On the contrary, at this stage the emphasis was on the model of liberal economy, with liberalization, privatization of productive enterprises and banks, policies based on incentives and market. Unfortunately, the economic science has not yet found a general paradigm that explains the wealth of nations regardless of the context and the men who animate it. JEL Codes: B31, E65, N14, O10Keywords: tasso di crescita, commercio internazionale, politica monetaria, politica bancaria

  9. Strategic environmental noise mapping: methodological issues concerning the implementation of the EU Environmental Noise Directive and their policy implications.

    LENUS (Irish Health Repository)

    Murphy, E

    2010-04-01

    This paper explores methodological issues and policy implications concerning the implementation of the EU Environmental Noise Directive (END) across Member States. Methodologically, the paper focuses on two key thematic issues relevant to the Directive: (1) calculation methods and (2) mapping methods. For (1), the paper focuses, in particular, on how differing calculation methods influence noise prediction results as well as the value of the EU noise indicator L(den) and its associated implications for comparability of noise data across EU states. With regard to (2), emphasis is placed on identifying the issues affecting strategic noise mapping, estimating population exposure, noise action planning and dissemination of noise mapping results to the general public. The implication of these issues for future environmental noise policy is also examined.

  10. Late Quaternary development of the Croatan Beach Ridge Complex, Bogue Sound, Bogue Banks, NC, USA and implications for coastal evolution

    Science.gov (United States)

    Lazar, Kelly B.; Mallinson, David J.; Culver, Stephen J.

    2016-06-01

    Foraminiferal, sedimentological, geophysical, and geochronologic data were utilized to elucidate the late Quaternary geologic development of the Croatan Beach Ridge Complex (CBRC), Bogue Sound, and Bogue Banks, North Carolina, USA. The CBRC is a relict beach ridge feature located on the mainland. It is separated from the modern barrier island, Bogue Banks, by Bogue Sound. Seventeen cores along shore-normal and shore-parallel transects provided material for sedimentologic and foraminiferal analysis and resulted in the recognition of seven depositional facies representing a variety of coastal depositional environments. Chronologic and depositional facies data suggest the CBRC was initiated during MIS 5a and rapid southward progradation produced a cape structure. Eolian reactivation of the upper sand of the CBRC occurred during the last glacial maximum (∼18 ka). The age of flood tide delta deposits in Bogue Sound suggests that the Holocene barrier island, Bogue Banks, had formed by ∼6 ka. Shoreface ravinement resulted in a shoreface landward of the present shoreline by ∼3.5 ka. Seaward and westward spit progradation of Bogue Banks began ∼1.7 ka and continued to ∼1.3 ka. Normal marine salinity conditions were present in Bogue Sound ∼1.1 ka, suggesting removal of at least the narrowest parts of the barrier island, coeval with a previously documented segmentation of the southern Outer Banks barrier islands. Previous work has linked this segmentation to climate warming and increased tropical storm activity during the Medieval Climate Anomaly. This study illustrates the complex response of this coastal system to Pleistocene and Holocene sea-level and climate change over two major sea-level cycles. In particular, the regional geomorphology during MIS5a and the Holocene sea-level highstand differ significantly and this, in large part, was controlled by the antecedent geologic framework, resulted in the contrasting more localized coastal geomorphic response.

  11. The Prospects for Unemployment and Inflation. Hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs, House of Representatives, Ninety-Eighth Congress, First Session.

    Science.gov (United States)

    Congress of the U.S., Washington, DC. House Committee on Banking, Finance and Urban Affairs.

    This report of a hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives provides information on unemployment and prospects for employment. The report focuses on the role of the Federal Reserve and actions the administration and Congress must take to bring down…

  12. The History of Policy Responses to Shadow Education in South Korea: Implications for the next Cycle of Policy Responses

    Science.gov (United States)

    Lee, Chong Jae; Lee, Heesook; Jang, Hyo-Min

    2010-01-01

    Shadow education has been a challenge to public education in South Korea since the 1960s. Government has responded to shadow education with various types of policy responses. The assumption on the possibility of reducing the demand mechanism led the policy to eliminate competitive high stakes examinations and even prohibit participating in shadow…

  13. Political Strategies and Language Policies: The European Union Lisbon Strategy and Its Implications for the EU's Language and Multilingualism Policy

    Science.gov (United States)

    Krzyzanowski, Michal; Wodak, Ruth

    2011-01-01

    This paper explores the interplay between the politics and policies of multilingualism by looking at the role of political macro-strategies in shaping language and multilingualism policies within the European Union. The paper focuses on the relationship between the European Union's 2000-2010 Lisbon Strategy on the European Knowledge-Based Economy…

  14. Policy impacts on regulating ecosystem services: looking at the implications of 60 years of landscape change on soil erosion prevention in a Mediterranean silvo-pastoral system

    OpenAIRE

    Guerra, C.A.; Metzger, M. J.; Maes, J; Pinto-Correia, T.

    2015-01-01

    Context Policy decisions form a major driver of land use change, with important implications for socially and environmentally susceptible regions. It is well known that there can be major unintended consequences, especially where policies are not tailored to regionally specific contexts. Objectives In this paper we assess the implications of 60 years of agricultural policies on soil erosion prevention (SEP) by vegetation, an essential regulating ecosystem service in Mediterranean Europe. O...

  15. Redefining Foreign Policy Impulses toward Africa: The Roles of the MFA, the MOFCOM and China Exim Bank

    Directory of Open Access Journals (Sweden)

    Lucy Corkin

    2011-01-01

    Full Text Available It has long been recognised that the actors involved in crafting and implementing China’s foreign policy are not always in agreement. This paper argues that the prioritisation of commercial outreach over purely political objectives in Africa has led to a shift in influence from the Ministry of Foreign Affairs (MFA to the Ministry of Commerce (MOFCOM. To that end, the paper examines the rising prominence of China Exim Bank’s concessional loans as a foreign policy instrument in Africa along with the process through which they are negotiated and implemented. Using the case of Angola, this paper shows how despite formal institutional equality, the MOFCOM is playing a far more influential role than the MFA is in defining the direction of China’s foreign policy toward Africa.

  16. Kinerja Efisiensi Teknis Bank Pembangunan Daerah: Pendekatan Data Envelopment Analysis (DEA

    Directory of Open Access Journals (Sweden)

    Zaenal Abidin

    2009-01-01

    Full Text Available This research utilises the non-parametric frontier approach, Data Envelopment Analysis (DEA to analyze technical efficiency of the regional development banks (BPD. The data was during 2006-2007 covering 26 BPD in Indonesia. The result of study indicated that the regional of development bank did not achieve technical efficiency at the level of maximum (100%. On avarege, the big-asset of BPD are found to be more efficient than the middle and small asset. The study has important implications such as guiding the BPD policy regarding merger and bank intermediary. Since the study pinpoints the sources of inefficiency , it would also help banks with strategic planning Abstract in Bahasa Indonesia:Penelitian ini menggunakan pendekatan non-parametrik Data Envelopment Analysis untuk menganalisis efisiensi teknis Bank Pembangunan Daerah (BPD. Data yang digunakan selama 2006-2007 yang meliputi 26 bank BPD seluruh Indonesia. Hasil studi menunjukkan bahwa kinerja efisiensi teknis bank BPD belum mencapai tingkat efisiensi optimal 100 persen. Secara rata-rata, bank BPD beraset lebih besar lebih efisien daripada bank BPD beraset menengah dan kecil. Penelitian ini memiliki implikasi penting dalam rangka mengoptimalkan kinerja efisiensi maka bank kecil dan menengah harus melakukan merger dan meningkat fungsi intermediasi perbankan. 

  17. Measuring Central Bank Communication:

    OpenAIRE

    David Lucca; Francesco Trebbi

    2008-01-01

    We present a new automated, objective and intuitive scoring method to measure the content of central bank communication about future policy rate moves. We apply the methodology to statements released by the Federal Open Market Commitee (FOMC) after monetary policy meetings. Using high-frequency financial data, we find that yields on short-term risk-free nominal rates respond both to changes in policy rates and the content of the statements, whereas, medium and long-term rates only respond to ...

  18. The decentralised central bank: regional bank rate autonomy in Norway, 1850-1892.

    OpenAIRE

    Klovland, Jan Tore; Øksendal, Lars Fredrik

    2013-01-01

    Before 1893 the regional branches of Norges Bank set their own bank rates. We discuss how bank rate autonomy could be reconciled with the fixed exchange rate commitments of the silver and gold standard. Although the headquarters of the bank was in Trondhjem, we find that the Christiania branch played the key role in providing leadership in bank rate policy. Foreign interest rate impulses were important for bank rate decisions, but there was also some leeway for responding to idiosyncratic sho...

  19. Internet Banking

    Directory of Open Access Journals (Sweden)

    Felician ALECU

    2006-01-01

    Full Text Available Internet Banking (known also as online banking allows performing transactions and payments over the internet through a bank's secure website. This can be very useful, especially for banking outside bank hours (which tend to be very short and banking from anywhere where internet access is available. In most cases a web browser such as Internet Explorer or Mozilla Firefox is utilized and any normal internet connection is suitable. No special software or hardware is usually needed.

  20. Mobile Phone Banking Usage Behaviour: An Australian Perspective

    Directory of Open Access Journals (Sweden)

    Majharul Talukder

    2014-12-01

    Full Text Available While the use of mobile phones in financial transactions is witnessing phenomenal growth at the international level, its growth has been relatively slow in Australia. Drawing on the theory of reasoned action and technology adoption framework, this paper reports the results concerning a survey of mobile phone users for banking transactions in Australia. The paper specifically identified the factors affecting usage behaviour when mobile phone banking services were engaged. The findings broaden and deepen our understanding of the usage of mobile-based banking in the information age. This paper contributes to the knowledge of this subject by including identification and testing of constructs of predictors regarding mobile phone banking, which are additional to those employed in the extant theories indicated above. The findings of this paper have important policy implications for banks in terms of understanding the underlying factors that drive customers’ mobile banking for financial transactions. Accordingly, design strategies have been developed to promote mobile phone banking – a cost effective channel for delivering financial services.

  1. 12 CFR 225.142 - Statement of policy concerning bank holding companies engaging in futures, forward and options...

    Science.gov (United States)

    2010-01-01

    ... of prudent written policies, appropriate limitations and internal controls and audit programs. If the... obligations. In addition, internal controls and internal audit programs to monitor such activity should be established. The board of directors, a duly authorized committee thereof or the internal auditors...

  2. Financial and economic approach: Financial & banking sector development pact from the perspective of the euro area European economic policy

    Directory of Open Access Journals (Sweden)

    Theodoropoulos Theodore E.

    2004-01-01

    Full Text Available Powerful obstacles to the further integration of repot, bond and equity markets remain the still fragmented securities settlement industry in Europe, which charges much higher fees for cross border transactions than for domestic transactions, and differences in legal systems. This paper describes the main developments in the euro area financial markets before and after the introduction of the single currency. It looks at the evolution of the euro area financial structure in the last few years. Interestingly in various dimensions the financial structure of euro area countries seems to become more diverse over time. We assess the progress towards financial integration in the most important euro-area financial segments, namely money and equity markets, as well as banking. The available data suggest that the unsecured money market strongly integrated with the introduction of the euro, as the single currency and related euro-area-wide large-value payment systems link the different countries well. Also, some progress occurred in the integration of euro-area equity markets, as stock exchanges in a few countries merged to form Euronext and professional asset managers replaced country allocation by sector allocation strategies. Overall, while asset holdings have become more international in the euro area since the introduction of the single currency, securities markets are still much less integrated than in the US. In the area of retail banking the increased homogeneity of interest rates seems to be driven more by macroeconomic convergence than by market integration. In addition we consider a wide range of other determinants, such as foreign debt or net foreign assets, terms of trade, government debt and regulated prices.

  3. Wheeling and Banking Strategies for Optimal Renewable Energy Deployment. International Experiences

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Vora, Ravi [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mathur, Shivani [National Renewable Energy Lab. (NREL), Golden, CO (United States); Madrigal, Paola [Energy Regulatory Commission (Mexico); Chatterjee, Sushanta K. [Central Electricity Regulatory Commission (India); Shah, Rakesh [SunEdison, Mumbai (India)

    2016-03-01

    This paper defines the principles of wheeling (i.e., transmission) tariffs and renewable energy (RE) banking provisions and their role in RE deployment in countries with plans for large-scale RE. It reviews experiences to date in the United States, Mexico, and India and discusses key policy and regulatory considerations for devising more effective wheeling and/or banking provisions for countries with ambitious RE deployment targets. The paper addresses the challenges of competing needs of stakeholders, especially those of RE generators, distribution utilities, and transmission network owners and operators. The importance of wheeling and banking and their effectiveness for financial viability of RE deployment is also explored. This paper aims to benefit policymakers and regulators as well as key renewable energy stakeholders. Key lessons for regulators include: creating long-term wheeling and banking policy certainty, considering incentivizing RE through discounted transmission access, and assessing the cost implications of such discounts, as well as expanding access to renewable energy customers.

  4. Energy for Water Utilization in China and Policy Implications for Integrated Planning

    Science.gov (United States)

    Li, X.; Liu, J.; Zheng, C.

    2015-12-01

    Water and energy are two vital resources for human and are intrinsically linked. China is a country with acute water problems caused by increasing demand, uneven spatial-temporal distribution of water resources, and water quality deterioration. These issues are exacerbating the country's water scarcity. Meanwhile, demands for both traditional and non-traditional water resources continue to rise, driven by the country's rapid economic expansion and industrialization. To meet growing water demands, more and more energy is used for water extraction, transportation and treatment. While projects such as deep groundwater pumping, long distance water transfer and seawater desalination are adding crucial supplies of fresh water, they are consuming an ever greater amount of energy. Thus, a better understanding of water-energy linkages is important for integrated water and energy policy analysis and planning. In this study, data from multiple sources are compiled and used to calculate energy consumption for different processes of water utilization in China, including water abstraction, treatment, and distribution, as well as wastewater treatment and re-use. Sankey diagrams are used to display the magnitude and direction of water and energy flows in China at the national level. Spatial distributions of energy use by different components of the water supply were further mapped at the provincial level to discern regional differences. The results of this study show that, for the main processes considered, water utilization consumes 193.5 TWh of electricity, or about 4% of the total national electricity usage. The highest percentage of energy consumption for water is attributed to water provision process. The outcome of this study has important implications for policy reforms involving water conservation strategies, water supply structure changes and technical solutions, which, in turn, will contribute to achieving the goal of low-energy water utilization in the future.

  5. Quaternary glacial and deglacial Ostracoda in the thermocline of the Little Bahama Bank (NW Atlantic): Palaeoceanographic implications

    Science.gov (United States)

    Rodriguez-Lazaro, J.; Cronin, T. M.

    1999-01-01

    We determined faunal and oceanographic changes during the last glacial and deglacial in the Providence Channel, Little Bahama Bank (LBB), using modern ocean (from LBB, Florida-Hatteras Slope and Blake Plateau, western North Atlantic) and late Quaternary (LBB) distributions of the benthic ostracode genus Krithe from the mid-depth (300-1600 m) subtropical North Atlantic Ocean. Nine species of Krithe are limited in their bathymetric distribution by warm bottom water temperatures (or a temperature-related parameter) in the thermocline of the modern Atlantic. During the last glacial interval in the northwest Providence Channel of the Little Bahama Bank five species of Krithe (K. aequabilis, K. dolichodeira, K. gr. minima, K. reversa and K. trinidadensis) migrated upslope; conversely, during the deglaciation, most Krithe species migrated downslope, re-occupying their deeper niches. These vertical species migrations are attributed to decreased glacial bottom water temperatures and perhaps increased dissolved oxygen during the last glacial and warmer water temperatures during the deglacial. Based upon thermal values of recent depth ranges of selected species of Krithe, we estimate that glacial waters cooled about 4??C (shallower than 900 m) and about 2??C (deeper than 900 m) and deglacial waters warmed about the same values in shallow and mid-depth water masses, comparing to modern temperatures. The discovery of common Halocypris, a mesopelagic ostracode, in Little Bahama Bank glacial and deglacial sediments also suggests greater oxygenation relative to the late Holocene.

  6. Central Bank independence

    OpenAIRE

    Vasile DEDU; Tiberiu STOICA

    2012-01-01

    In this paper we present the key aspects regarding central bank’s independence. Most economists consider that the factor which positively influences the efficiency of monetary policy measures is the high independence of the central bank. We determined that the National Bank of Romania (NBR) has a high degree of independence. NBR has both goal and instrument independence. We also consider that the hike of NBR’s independence played an important role in the significant disin...

  7. Sharing China's Bank Restructuring Bill

    Institute of Scientific and Technical Information of China (English)

    Guonan Ma

    2006-01-01

    This paper addresses the questions related to the cost of China's bank restructuring and how it has been financed. We first propose a framework for recognizing losses. Then, we examine the recent major moves by the Chinese Government to repair the country's bank balance sheets. Finally, we explore the implications of the Chinese Government's methods of funding bank restructuring. We find that the Chinese Government has been decisive in confronting the costly task of bank restructuring. So far, Chinese taxpayers have paid most of the bill for bank restructuring.

  8. STUDY ON BEIJING'S EMERGING MOBILE COMMUNICATION INDUSTRIAL CLUSTER AND ITS POLICY IMPLICATIONS

    Institute of Scientific and Technical Information of China (English)

    SUN Tie-shan; LI Guo-ping; LU Ming-hua

    2003-01-01

    This paper is a preliminary and illustrative case study of Beijing's emerging mobile communication industri-al (MCI) cluster, which helps understand the cluster by qualitative analysis and description. Beijing's MCI cluster is emerg-ing as far as the competence of the industry and its spatial concentration are concerned, although it is not the type of thecluster described by PORTER due to the low competence of indigenous firms. The formation of the cluster can be ex-plained by means of the factor and demand conditions of Beijing. However, it is mostly determined by the multinationalsthat promote the growth of the industry and the formation of the cluster, and by the government that also plays a key rolein many ways. As a matter of fact, the interaction between the multinationals and the local government is the key to under-standing the formation of the cluster. Allinall, Beijing's emerging MCI cluster is a value-chain, geographicallyconcentrat-ed but non-localized cluster, which is highly dominated by the multinationals and the local government. Its special character-istics bear some policy implications as to the change of the roles of the local government and the localization of multination-als, etc.

  9. Review of economic and energy sector implications of adopting global climate change policies

    Energy Technology Data Exchange (ETDEWEB)

    Novak, M.H.

    1997-12-31

    This paper summarizes a number of studies examining potential economic impacts of global climate change policies. Implications for the United States as a whole, the U.S. energy sector, the U.S. economy, businesses and consumers, and world economies are considered. Impact assessments are performed of U.S. carbon emissions, carbon taxes, and carbon restrictions by comparing estimates from various organizations. The following conclusions were made from the economic studies: (1) the economic cost of carbon abatement is expensive; (2) the cost of unilateral action is very expensive with little quantifiable evidence that global emissions are reduced; (3) multilateral actions of developed countries are also very expensive, but there is quantifiable evidence of global emissions reductions; and (4) global actions have only been theoretically addressed. Paralleling these findings, the energy analyses show that the U.S. is technologically unprepared to give up fossil fuels. As a result: (1) carbon is not stabilized without a high tax, (2) stabilization of carbon is elusive, (3) technology is the only long-term answer, and (4) targeted programs may be appropriate to force technology development. 8 tabs.

  10. INNOVATIVE STRATEGY IN SHRIMP POTIGUAR: ASYMMETRIES POWER GENERATION AND IMPLICATIONS FOR POLICY INNOVATION

    Directory of Open Access Journals (Sweden)

    Mariana Baldi

    2012-12-01

    Full Text Available This paper aims to analyze the technological trajectory and the actors – public and private - political behave in the carciniculture network (cultivate of shrimp in the federal estate of Rio Grande do Norte. The research was based on both embeddedness and cluster policy approach. The case study was based on bibliographic, archives, and empirical data, whose primary data were collected through semi-structured interviews carried on with 10 members of different organizations from carciniculture sector in the period 2009-2010, as well as interviews already conducted in the area since the year 2005. These data were submitted to content analysis with longitudinal and descriptive approach. Along the technological trajectory of the cluster we highlighted opportunities and limits for innovative strategies generated by asymmetries of power and ability to influence actors in the network. We highlight the relationship between 'power network' and 'links established with public actors' as well as the implications for innovation along the trajectory generated by a more or less state interference.

  11. Green Economy Performance and Green Productivity Growth in China’s Cities: Measures and Policy Implication

    Directory of Open Access Journals (Sweden)

    Jianglong Li

    2016-09-01

    Full Text Available Resource depletion and environmental degradation have become serious challenges for China’s sustainable development. This paper constructs indicators to assess China’s green economy performance and green productivity growth, in which economic expansion, resource conservation and environmental protection need to be incorporated simultaneously. For this purpose, we combine non-radial directional distance function and meta-frontier Malmquist productivity to develop the indicators. The methodology also allows for the decomposition of driving forces of China’s green economy. Moreover, the dataset employed in this paper allows for the evaluation of 275 cities in China during the period 2003–2012. The main findings are as follows. First, most of China’s cities did not perform efficiently in terms of the green economy, with an average score of only 0.233. Second, the growth rate of green productivity is slower than real GDP, and the green productivity growth in China is only moderate. Third, innovation is the main driving force of China’s green productivity growth, but the central region lags behind when it comes to green innovation. Fourth, artificial local protectionism and transport limitations impede the progress of cities that perform ineffectively in the green economy. Based on our empirical findings, we provide policy implications and suggestions for enhancing China’s green economy performance and productivity growth.

  12. The East Asian Development Experience: Policy Lessons, Implications, and Recommendations for Sub-Saharan Africa (SSA Global Competitiveness

    Directory of Open Access Journals (Sweden)

    Ashford C. Chea

    2012-07-01

    Full Text Available The paper looks at the development experience of East Asia and draws lessons for Sub-Saharan Africa in building global competitiveness. It starts with a historical perspective of both regions’ developmental trajectories. This is followed by an analysis of the causes of East Asia’s superior economic performance and development and SSA underdevelopment. The article also draws policy lessons from East Asia development strategies for SSA global competitiveness. The paper ends with a presentation of policy implications and recommendations for building SSA global competitiveness in the region’s efforts to transform from poverty to prosperity.

  13. CO2 Capture from the Air: Technology Assessment and Implications for Climate Policy

    Science.gov (United States)

    Keith, D. W.

    2002-05-01

    It is physically possible to capture CO2 directly from the air and immobilize it in geological structures. Today, there are no large-scale technologies that achieve air capture at reasonable cost. Yet, strong arguments suggest that it will comparatively easy to develop practical air capture technologies on the timescales relevant to climate policy [1]. This paper first analyzes the cost of air capture and then assesses the implications for climate policy. We first analyze the lower bound on the cost needed for air capture, describing the thermodynamic and physical limits to the use of energy and land. We then compare the costs of air capture to the cost of capture from combustion exhaust streams. While the intrinsic minimum energy requirement is larger for air capture, we argue that air capture has important structural advantages, such as the reduction of transport costs and the larger potential for economies of scale. These advantages suggest that, in the long-run air capture be competitive with other methods of achieving deep emissions reductions. We provide a preliminary engineering-economic analysis of an air capture system based on CaO to CaCO3 chemical looping [1]. We analyze the possibility of doing the calcination in a modified pressurized fluidized bed combustor (PFBC) burning coal in a CO2 rich atmosphere with oxygen supplied by an air separation unit. The CaCO3-to-coal ratio would be ~2:1 and the system would be nearly thermally neutral. PFBC systems have been demonstrated at capacities of over 100 MW. Such systems already include CaCO3 injection for sulfur control, and operate at suitable temperatures and pressures for calcination. We assess the potential to recover heat from the dissolution of CaO in order to reduce the overall energy requirements. We analyze the possibility of adapting existing large water/air heat exchangers for use as contacting systems to capture CO2 from the air using the calcium hydroxide solution. The implications of air capture

  14. Effectiveness analysis of monetary policy transmission by bank credit channels%货币政策通过银行信贷渠道传导的有效性分析

    Institute of Scientific and Technical Information of China (English)

    孙燕红; 张红

    2012-01-01

    在考虑银行个体资本水平和存款水平差异的基础上,通过构建模型分析了银行个体受到资本充足率和存款准备金率双重约束时的最优信贷决策行为,并对垄断竞争的贷款市场进行均衡分析,研究了不同情况下货币政策变化通过银行信贷渠道传导的有效性.研究结果表明,①当所有银行均资本充足并能满足存款准备金率约束时,货币政策的银行信贷渠道传导是有效的;当所有银行的资本均不够充足或均不能满足存款备金率约束时,货币政策的银行信贷渠道传导完全失效;②资本充足并能满足存款准备金率约束的银行在贷款市场中的比例越高,货币政策的银行信贷渠道传导更加有效.%The optimal credit-decision behavior of an individual bank constrained by both capital adequacy and deposit reserve ratios was analyzed considering the differences in the capital and deposit levels between banks. Besides, effectiveness of the monetary policy transmission by bank credit channels was studied in the monopolistic competition loan market under different cases by equilibrium analysis. The results indicate that; ① when all banks have adequate capital and satisfy the deposit reserve ratio constraint, the bank credit channel transmission of the monetary policy is effective; while when the capital of all banks is not adequate or none of the banks can satisfy the deposit reserve ratio constraint, the transmission is absolutely ineffective; ② the higher the proportion of banks that have adequate capital and satisfy the deposit reserve ratio constraint in the loan market is, the more effective is the bank credit channel transmission of the monetary policy.

  15. PATHWAYS TO SUSTAINABLE BANKING MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Dragan (Santamarian Oana Raluca

    2012-12-01

    Full Text Available This paper describes one of the major challenges of the future: the sustainable development of the society. Sustainability is now increasingly recognized as central to the growth of emerging market economies. For the banking sector, this represents both a demand for greater social and environmental responsibility as well as a new landscape of business opportunity. Several years ago, the main part of the banks did not consider the social and environmental problems relevant for their operations. Recently, the banks began to realize the major impact of the sustainable development over the way of ulterior development of the society and, implicitly over the way of creating of the banking value in the future. In this context, the development of a banking management system, based on sustainable principles represents one of the provocations of these days.Starting from literature in the sustainable banking management field in this paper are presented several relevant issues related to risk management in the context of sustainable banking financing: the need to implement the sustainable management principles in financial and banking industry; the role of banks in sustainable development of society; social and environmental risk management policies, events that have shaped the role of the banking sector in sustainable development; international standards regarding sustainable banking management such us: Equator Principles for sustainable investment projects’ financing or GRI principles for sustainable reporting. Furthermore, we developed a practical case study related to the implementation of sustainable banking management at Bank of America.

  16. 12 CFR 614.4130 - Funding and discount relationships between Farm Credit Banks or agricultural credit banks and OFIs.

    Science.gov (United States)

    2010-01-01

    ... CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Bank/Association Lending... direct loan or discounts, shall be consistent with the Farm Credit Bank's or agricultural credit bank's... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Funding and discount relationships between...

  17. Technical change in a combined Classical - Evolutionary multi-sector economy: Causes, Effects and implications for economic and social policy

    OpenAIRE

    Rainer, A.

    2012-01-01

    The causes and effects of technical change are investigated in a multi-sector economy. The underlying modelling framework is a hybrid of Classical economic thinking as introduced by Ricardo (1821) and formalised by Sraffa(1960), and of Evolutionary economics following Schumpeter (1934)and Nelson & Winter (1982). The special case of one sector is elaborated at length, leading to several implications concerning economic and legal policy in the presence of ongoing technical change. This inclu...

  18. Assessment of BIOrefinery concepts and the implications for agricultural and forestry POLicy : Deliverable 7.6 : BIOPOL Final report

    OpenAIRE

    Annevelink, E.; Kamm, B.; Schönicke, P.; Menrad, K.; Kurka, S.; Klein, A.; Rogulska, M.; Karbowski, A.; Peck, P.; McCormick, K; Lenhart, J; P. Capros; Agathokles, D.E.; Reith, J.H.; Mozaffarian, H.

    2009-01-01

    BIOPOL is a two-year research project funded by the European Commission since 2007 through the Sixth Framework Programme. The overall goal of BIOPOL is to assess the status (technical, social, environmental, political, and implementation) of innovative BIOrefinery concepts and the implications for agricultural and forestry POLicy. Biorefinery concepts are aimed at relevant market-competitive and environmental-friendly synthesis of bio-products (chemicals and/or materials) together with the pr...

  19. The Integration of EU Banking Markets

    OpenAIRE

    Gual, Jordi

    2004-01-01

    The goal of this Paper is to provide an assessment of the EU policies that pursue the creation of a single banking market. The Paper evaluates the degree of integration of EU banking markets and discusses whether current policies are the most appropriate instruments for market integration. After comparing the key features of EU policy with alternative methods of market opening, the analysis stresses that market opening in regulated markets such as banking faces a difficult trade-off between r...

  20. Medical tourism and policy implications for health systems: a conceptual framework from a comparative study of Thailand, Singapore and Malaysia.

    Science.gov (United States)

    Pocock, Nicola S; Phua, Kai Hong

    2011-01-01

    Medical tourism is a growing phenomenon with policy implications for health systems, particularly of destination countries. Private actors and governments in Southeast Asia are promoting the medical tourist industry, but the potential impact on health systems, particularly in terms of equity in access and availability for local consumers, is unclear. This article presents a conceptual framework that outlines the policy implications of medical tourism's growth for health systems, drawing on the cases of Thailand, Singapore and Malaysia, three regional hubs for medical tourism, via an extensive review of academic and grey literature. Variables for further analysis of the potential impact of medical tourism on health systems are also identified. The framework can provide a basis for empirical, in country studies weighing the benefits and disadvantages of medical tourism for health systems. The policy implications described are of particular relevance for policymakers and industry practitioners in other Southeast Asian countries with similar health systems where governments have expressed interest in facilitating the growth of the medical tourist industry. This article calls for a universal definition of medical tourism and medical tourists to be enunciated, as well as concerted data collection efforts, to be undertaken prior to any meaningful empirical analysis of medical tourism's impact on health systems. PMID:21539751

  1. Medical tourism and policy implications for health systems: a conceptual framework from a comparative study of Thailand, Singapore and Malaysia

    Directory of Open Access Journals (Sweden)

    Phua Kai Hong

    2011-05-01

    Full Text Available Abstract Medical tourism is a growing phenomenon with policy implications for health systems, particularly of destination countries. Private actors and governments in Southeast Asia are promoting the medical tourist industry, but the potential impact on health systems, particularly in terms of equity in access and availability for local consumers, is unclear. This article presents a conceptual framework that outlines the policy implications of medical tourism's growth for health systems, drawing on the cases of Thailand, Singapore and Malaysia, three regional hubs for medical tourism, via an extensive review of academic and grey literature. Variables for further analysis of the potential impact of medical tourism on health systems are also identified. The framework can provide a basis for empirical, in country studies weighing the benefits and disadvantages of medical tourism for health systems. The policy implications described are of particular relevance for policymakers and industry practitioners in other Southeast Asian countries with similar health systems where governments have expressed interest in facilitating the growth of the medical tourist industry. This article calls for a universal definition of medical tourism and medical tourists to be enunciated, as well as concerted data collection efforts, to be undertaken prior to any meaningful empirical analysis of medical tourism's impact on health systems.

  2. Medical tourism and policy implications for health systems: a conceptual framework from a comparative study of Thailand, Singapore and Malaysia

    Science.gov (United States)

    2011-01-01

    Medical tourism is a growing phenomenon with policy implications for health systems, particularly of destination countries. Private actors and governments in Southeast Asia are promoting the medical tourist industry, but the potential impact on health systems, particularly in terms of equity in access and availability for local consumers, is unclear. This article presents a conceptual framework that outlines the policy implications of medical tourism's growth for health systems, drawing on the cases of Thailand, Singapore and Malaysia, three regional hubs for medical tourism, via an extensive review of academic and grey literature. Variables for further analysis of the potential impact of medical tourism on health systems are also identified. The framework can provide a basis for empirical, in country studies weighing the benefits and disadvantages of medical tourism for health systems. The policy implications described are of particular relevance for policymakers and industry practitioners in other Southeast Asian countries with similar health systems where governments have expressed interest in facilitating the growth of the medical tourist industry. This article calls for a universal definition of medical tourism and medical tourists to be enunciated, as well as concerted data collection efforts, to be undertaken prior to any meaningful empirical analysis of medical tourism's impact on health systems. PMID:21539751

  3. Children, Families and Poverty: Definitions, Trends, Emerging Science and Implications for Policy. Social Policy Report. Volume 26, Number 3

    Science.gov (United States)

    Aber, Lawrence; Morris, Pamela; Raver, Cybele

    2012-01-01

    Now, more than ever, it is crucial to address the topic of children and poverty in the U.S., given current scientific knowledge about poverty's influence on children and effective strategies to mitigate its negative impact. In this report, we summarize the best available information on definitions and trends in child poverty, policy responses to…

  4. Factors associated with female genital mutilation in Burkina Faso and its policy implications

    Directory of Open Access Journals (Sweden)

    Chung Donna

    2011-05-01

    Full Text Available Abstract Background Female genital mutilation (FGM usually undertaken between the ages of 1-9 years and is widely practised in some part of Africa and by migrants from African countries in other parts of the world. Laws prohibit FGM in almost every country. FGM can cause immediate complications (pain, bleeding and infection and delayed complications (sexual, obstetric, psychological problems. Several factors have been associated with an increased likelihood of FGM. In Burkina Faso, the prevalence of FGM appears to have increased in recent years. Methods We investigated social, demographic and economic factors associated with FGM in Burkina Faso using the 2003 Demographic Health Survey (DHS. The DHS is a nationally representative cross-sectional survey (multistage stratified random sampling of households of women of reproductive age (15-49 years. Associations between potential risk factors and the prevalence of FGM were explored using χ2 and t-tests and Mann Whitney U-test as appropriate. Logistic regression modelling was used to investigate social, demographic and economic risk factors associated with FGM. Main outcome measures i whether a woman herself had had FGM; ii whether she had one or more daughters with FGM. Results Data were available on 12,049 women. Response rates by region were at least 90%. Women interviewed were representative of the underlying populations of the different regions of Burkina Faso. Seventy seven percent (9267 of the women interviewed had had FGM. 7336 women had a daughter of whom 2216 (30.2% had a daughter with FGM and 334 (4.5% said that they intended that their daughter should have it. Univariate analysis showed that age, religion, wealth, ethnicity, literacy, years of education, household affluence, region and who had responsibility for health care decisions in the household had (RHCD were all significantly related to the two outcomes (p Conclusions and Policy implications Factors associated with FGM are varied

  5. The implications of renewable energy research and development: Policy scenario analysis with experience and learning effects

    Science.gov (United States)

    Kobos, Peter Holmes

    This dissertation analyzes the current and potential future costs of renewable energy technology from an institutional perspective. The central hypothesis is that reliable technology cost forecasting can be achieved through standard and modified experience curves implemented in a dynamic simulation model. Additionally, drawing upon region-specific institutional lessons highlights the role of market, social, and political institutions throughout an economy. Socio-political influences and government policy pathways drive resource allocation decisions that may be predominately influenced by factors other than those considered in a traditional market-driven, mechanistic approach. Learning in economic systems as a research topic is an attractive complement to the notion of institutional pathways. The economic implications of learning by doing, as first outlined by Arrow (1962), highlight decreasing production costs as individuals, or more generally the firm, become more familiar with a production process. The standard approach in the literature has been to employ a common experience curve where cumulative production is the only independent variable affecting costs. This dissertation develops a two factor experience curve, adding research, development and demonstration (RD&D) expenditures as a second variable. To illustrate the concept in the context of energy planning, two factor experience curves are developed for wind energy technology and solar photovoltaic (PV) modules under different assumptions on learning rates for cumulative capacity and the knowledge stock (a function of past RD&D efforts). Additionally, a one factor experience curve and cost trajectory scenarios are developed for concentrated solar power and geothermal energy technology, respectively. Cost forecasts are then developed for all four of these technologies in a dynamic simulation model. Combining the theoretical framework of learning by doing with the fields of organizational learning and

  6. Economic assessment of solar and conventional biomass gasification technologies: Financial and policy implications under feedstock and product gas price uncertainty

    International Nuclear Information System (INIS)

    Four configurations of a novel solar-heated biomass gasification facility and one configuration of conventional biomass gasification are analyzed through financial and policy scenarios. The purpose of this study is to determine the potential financial position for varying configurations of a novel technology, as compared to the current state-of-the-art gasification technology. Through the use of project finance and policy scenario development, we assess the baseline breakeven syngas price (normalized against natural gas prices and based upon annual feedstock consumption), the sensitivity of major cost components for the novel facilities, and the implications of policy levers on the economic feasibility of the solar facilities. Findings show that certain solar configurations may compete with conventional facilities on a straightforward economic basis. However, with renewable energy policy levers in place the solar technologies become increasingly attractive options. - Highlights: • We model four solar and one conventional biomass gasification systems. • We assess economic feasibility of these systems with and without policy incentives. • Solar facilities compete with the conventional system in certain scenarios. • Feedstock costs are the largest contributor to system cost sensitivity. • Policy incentives create an economically favorable scenario for solar facilities

  7. Factors Affecting Bank Switching Intentions in E-Banking

    Directory of Open Access Journals (Sweden)

    Leyla ÖZER

    2012-12-01

    Full Text Available The purpose of this research is to identify and examine the factors that contribute to bank switching intentions of e-banking customers and whether these intentions differ according to demographic characteristics (age, gender, education, marital status and income levels of customers. Regression results suggested that customer dissatisfaction, low service quality, high price, unfavorable bank reputation, limited product variety and involuntary switching factors were positively related to customers’ bank switching intentions in e-banking. On the other hand, promotion efforts were negatively related to customers’ switching intentions. In addition to this, bank switching intentions were revealed to be differing according to education levels. Bank switching intentions of well-educated customers were tend to be higher, while age, gender, marital status and income level didn’t make a difference on intentions. Based on the empirical results of current study, we will provide several theoretical and managerial implications in the area of service industry.

  8. New Workers in the Banking Industry: A Minority Report.

    Science.gov (United States)

    Corwin, R. David

    To investigate the effects of the employment policies and practices of New York City banks upon minority employment, six banks were selected on the basis of their higher than average minority group employment. Nearly 200 interviews were conducted with bank personnel, including policy formulators, policy executors, and lower level personnel. These…

  9. Central Bank Focuses on Money Supply and Commercial Bank Reform

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    @@ Money supply index will continue to be the main topic of the annual meeting of Central Bank, this has actually refuted the rumor that the intermediate goal of Central Bank's monetary policy,which has been implementing for 8 years, will be demolished.

  10. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

    The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...

  11. PUBLIC EXPENDITURE POLICY IN THE CONTEXT OF ECONOMIC CRISIS - CHALLENGES AND IMPLICATIONS

    Directory of Open Access Journals (Sweden)

    Petrisor Mihai - Bogdan

    2011-07-01

    Full Text Available Public spending is a key component for both public finances and government financial policy. In this situation, government expenditures are made in direct relation with the results of governance with economic and financial crises and global social welfare of the nation. From this perspective, our article aims to highlight the correlation between public expenditure and budgetary financial and economic crisis and, also, state government responses, anticipating their impact on medium and long term. Also, in the context of the crisis and the concomitent lack of public revenue, we identify the pillars on which to base the budget reduction in public expenditure. The implications of the economic crisis in Romania are analyzed along with proposed measures to be followed by the Government through budgetary fiscal strategy. In relation to the purpose and objectives of the research, documentation was made both in terms of bibliographic resources and the plan of legislative documents and quantitative reporting. We believe that the issue of increasing allocative efficiency of resources is vital to counter the current crisis, but also to maximize the positive effects of public interventions in general and from another state, we consider that state and, consequently, public expenditure budget which should be used to replace the market, can not be regarded as some suggest to be founded and we suggest a line for developed countries. This work was supported by the grant “Post-doctoral studies in Economics: program for continuous forming of elite researchers – SPODE”, contract POSDRU/89/1.5/S/61755, project financed by the European Social Fund, by the Operational Sectorial Program Development of Human Resources 2007-2013.

  12. The global diffusion of organ transplantation: trends, drivers and policy implications.

    Science.gov (United States)

    White, Sarah L; Hirth, Richard; Mahíllo, Beatriz; Domínguez-Gil, Beatriz; Delmonico, Francis L; Noel, Luc; Chapman, Jeremy; Matesanz, Rafael; Carmona, Mar; Alvarez, Marina; Núñez, Jose R; Leichtman, Alan

    2014-11-01

    Rising incomes, the spread of personal insurance, lifestyle factors adding to the burden of illness, ageing populations, globalization and skills transfer within the medical community have increased worldwide demand for organ transplantation. The Global Observatory on Donation and Transplantation, which was built in response to World Health Assembly resolution WHA57.18, has conducted ongoing documentation of global transplantation activities since 2007. In this paper, we use the Global Observatory's data to describe the current distribution of - and trends in - transplantation activities and to evaluate the role of health systems factors and macroeconomics in the diffusion of transplantation technology. We then consider the implications of our results for health policies relating to organ donation and transplantation. Of the World Health Organization's Member States, most now engage in organ transplantation and more than a third performed deceased donor transplantation in 2011. In general, the Member States that engage in organ transplantation have greater access to physician services and greater total health spending per capita than the Member States where organ transplantation is not performed. The provision of deceased donor transplantation was closely associated with high levels of gross national income per capita. There are several ways in which governments can support the ethical development of organ donation and transplantation programmes. Specifically, they can ensure that appropriate legislation, regulation and oversight are in place, and monitor donation and transplantation activities, practices and outcomes. Moreover, they can allocate resources towards the training of specialist physicians, surgeons and transplant coordinators, and implement a professional donor-procurement network. PMID:25378744

  13. Implications of transportation policies on energy and environment in Kathmandu Valley, Nepal

    International Nuclear Information System (INIS)

    This paper estimates and analyzes the historical and future trends of energy demand and environmental emissions from passenger transportation of the Kathmandu Valley covering CO2, CO, HC, NOx, SO2, total suspended particles (TSP) and lead (Pb). It uses the Long-range Energy Alternatives Planning System framework for constructing future scenarios up to year 2020 and analyzing their implications; these scenarios mainly deal with the traffic improvement measures, promotion of public transportation and electric vehicles. The results estimate over a four-fold increase in energy demand in 1988-2000. TSP increase of 4.5 times in this period is the major concern since high particulate concentration is already above World Health Organization guidelines. Under the non-intervention scenario, energy demand in 2020 is estimated to be 2.7 times that in the year 2000. Similarly, 2.5 times increase of TSP in 2020 from the year 2000 is estimated that would further increase the TSP concentrations. The scenario analyses suggest that increasing vehicle speed, promoting public transportation and promoting electric vehicles could reduce energy demand by 28%, 28% and 18%, respectively, while promoting a reasonably comfortable condition on overcrowded public transportation could increase energy demand by 10% from non-intervention scenario. For TSP, any future measures would not be enough unless the attention is not paid to in-use vehicle stock. A mix of all the policies mentioned above has potentials to cut down CO2 emissions to over 60% from the non-intervention case in 2020

  14. Impact of Foreign Bank Entry on the Performance of Chinese Banks

    Institute of Scientific and Technical Information of China (English)

    Chung-Hua Shen; Chin-Hwa Lu; Meng-Wen Wu

    2009-01-01

    This study investigates how foreign bank/investor penetrations influence local bank performance in China. At the country level, foreign bank penetration is proxied by MacroFP, measured by the percentage of banks with foreign strategic investors (FSI) among total banks. At the bank level, foreign bank penetration is proxied by MicroFP, measured by the percentage shareholding of FSI in a bank. When foreign bank penetration is proxied by MacroFP, it is found to improve the profitability of local banks but not to reduce costs. Next, when foreign bank penetration is proxied by MicroFP, it is found to affect neither profitability nor costa. In sum, the present study demonstrates that the opening-up policy is correct from a macro perspective. However, for banks that have introduced FSI, determining the reasona for improvements in performance being inhibited is more important than releasing more shares to foreign investors.

  15. Economic Analysis on the Monetary Sterilization Policy of the People's Bank of China%央行货币冲销的经济学分析

    Institute of Scientific and Technical Information of China (English)

    周双

    2012-01-01

    This paper examines the effectiveness of monetary sterilization in China. The paper establishes an empirical model based on the quantitative monetary theory, the empirical testing through china's seasonal data during the period of 2003- 2011 shows that the monetary sterilization policy of the central bank is effective on the whole and the elasticity of monetary ster- ilization policy is good enough. A VAR model is also employed to detect the dynamic effects of the foreign exchange reserve in- crease and the monetary sterilization on inflation. The results show that the monetary sterilization can affiliate the inflation effect raised by the foreign exchange reserve increase.%为研究央行货币冲销政策的有效性,本文基于货币数量论构建的货币冲销理论模型,利用2003年第2季度到2011年第3季度的数据进行实证研究,结果表明,货币冲销政策确实能够有效抑制由于外汇储备增加引起的通货膨胀。进一步,利用2002年6月到2011年5月的数据建立VAR模型,考察外汇储备增加和货币冲销对物价水平以及社会产出水平的动态影响。研究表明,我国外汇储备增加具有明显的通货膨胀效应.央行货币冲销政疑对物价具有显著的平抑作用。

  16. The influence of bank employees on bank customer relationship management

    Directory of Open Access Journals (Sweden)

    C. Rootman

    2007-12-01

    Full Text Available Purpose: Despite extensive research in services marketing, much is still unknown to specific service providers on the influence of their employees on their services. This paper attempts to address this limitation and investigates the influence of employees on the customer relationship management (CRM of banks. The primary objective of this paper is to investigate the influence of selected independent variables, namely attitude and knowledgeability, on the CRM of banks.Design/Methodology/Approach: An empirical investigation was conducted with a structured questionnaire with items that related to banks' CRM in terms of attitude and knowledgeability. The sample consisted of 290 banking clients in the Nelson Mandela Metropolitan area and the response rate was 91.03%. Findings: Significant positive relationships exist between both the knowledgeability, and attitude of bank employees and a bank's CRM. These relationships imply that more extensive knowledgeability and more positive attitudes of bank employees lead to improved, maintained relationships between a bank and its clients. Employees play an important role in banks’ client relationships. Implications: Banks should focus on increasing their employees' knowledgeability and improving their attitude to ensure higher levels of CRM. This paper provides strategies for banks and could create greater awareness among South African banks of the advantages of CRM, how their employees influence their CRM, and ways to adapt to these influences. Originality/Value: No study has focused exclusively on CRM within banks in South Africa. Prior research focused on customer service and service quality; both possible results of superior CRM. However, this research differs, as it identifies the variables influencing CRM in banks in South Africa. It is proposed that this paper will be beneficial for South African banks, as the recommendations may be used to ensure higher levels of CRM in banks.

  17. Chinese Education Policy in the Context of Decentralization and Marketization: Evolution and Implications

    Science.gov (United States)

    Ngok, Kinglun

    2007-01-01

    Education policy has been undergoing great transformation in China since the initiation of economic reforms and the open-door policy in the late 1970s. These market-oriented reforms and the pursuit of rapid economic growth in a globalized economy have significantly impacted China's education policy and development. In line with the development of…

  18. Implications of Income-Based School Assignment Policies for Racial School Segregation

    Science.gov (United States)

    Reardon, Sean F.; Yun, John T.; Kurlaender, Michal

    2006-01-01

    A number of public school districts in the United States have adopted income-based integration policies--policies that use measures of family income or socioeconomic status--in determining school assignment. Some scholars and policymakers contend that such policies will also reduce racial segregation. In this article this assumption is explored by…

  19. Does Gender Inequality Hinder Development and Economic Growth? Evidence and Policy Implications

    OpenAIRE

    Bandiera, Oriana; Natraj, Ashwini

    2013-01-01

    Does the existing evidence support policies that foster growth by reducing gender inequality? The authors argue that the evidence based on differences across countries is of limited use for policy design because it does not identify the causal link from inequality to growth. This, however does not imply that inequality-reducing policies are ineffective. In other words, the lack of evidence...

  20. Pieter Bevelander & Bo Petersson (eds., Crisis and Migration. Implications of the Eurozone Crisis for Perceptions, Politics, and Policies on Migration (Lund: Nordic Academic Press, 2014

    Directory of Open Access Journals (Sweden)

    Giorgio Baruchello

    2015-03-01

    Full Text Available Review of the following book: Pieter Bevelander & Bo Petersson (eds., Crisis and Migration. Implications of the Eurozone Crisis for Perceptions, Politics, and Policies on Migration, Lund: Nordic Academic Press, 2014

  1. TRANSVERSALITY, TECHNOLOGICAL TRANSFER NETWORKS AND POLICY IMPLICATIONS: THE CASE OF REGIONAL INNOVATION POLICIES IN TUSCANY REGION (SDP 2000-2006)

    OpenAIRE

    Emanuele Fabbri; Luciana Lazzeretti

    2011-01-01

    Recently at the European level the theme of innovation has been further fostered with the Smart Specialization Strategy underlined within the COM(2010) 553 “Regional policy contributing to smart growth in Europe 2020†. The aim of this study is to investigate the co-evolutive dynamics of the technological transfer processes at regional level, and in particular the issue of transversality and bases of knowledge between networks according to an evolutionary perspective. Transversality is ana...

  2. Analysis of policy implications and challenges of the Cuban health assistance program related to human resources for health in the Pacific

    Directory of Open Access Journals (Sweden)

    Asante Augustine D

    2012-05-01

    Full Text Available Abstract Background Cuba has extended its medical cooperation to Pacific Island Countries (PICs by supplying doctors to boost service delivery and offering scholarships for Pacific Islanders to study medicine in Cuba. Given the small populations of PICs, the Cuban engagement could prove particularly significant for health systems development in the region. This paper reviews the magnitude and form of Cuban medical cooperation in the Pacific and analyses its implications for health policy, human resource capacity and overall development assistance for health in the region. Methods We reviewed both published and grey literature on health workforce in the Pacific including health workforce plans and human resource policy documents. Further information was gathered through discussions with key stakeholders involved in health workforce development in the region. Results Cuba formalised its relationship with PICs in September 2008 following the first Cuba-Pacific Islands ministerial meeting. Some 33 Cuban health personnel work in Pacific Island Countries and 177 Pacific island students are studying medicine in Cuba in 2010 with the most extensive engagement in Kiribati, the Solomon Islands, Tuvalu and Vanuatu. The cost of the Cuban medical cooperation to PICs comes in the form of countries providing benefits and paying allowances to in-country Cuban health workers and return airfares for their students in Cuba. This has been seen by some PICs as a cheaper alternative to training doctors in other countries. Conclusions The Cuban engagement with PICs, while smaller than engagement with other countries, presents several opportunities and challenges for health system strengthening in the region. In particular, it allows PICs to increase their health workforce numbers at relatively low cost and extends delivery of health services to remote areas. A key challenge is that with the potential increase in the number of medical doctors, once the local students

  3. Recreational Fisheries and Marine Protected Area Management: Marine Policy and Environmental Management of the Flower Garden Banks National Marine Sanctuary (USA

    Directory of Open Access Journals (Sweden)

    Juan Carlos Levesque

    2011-06-01

    Full Text Available The demand on our marine resources is increasing at unsustainable rates; however, marine policy and management is complex, political, and time consuming. One tool that resource managers in the United States use for managing, protecting, and conserving fragile marine resources is the designation of Marine Protected Areas. Presently, the public is concerned with the status and health of the fish and fisheries associated with the Flower Garden Banks National Marine Sanctuary (FGBNMS. Given these conservation and social issues, the main goal of this study was to provide an evaluation of the recreational fisheries associated with the FGBNMS. Findings showed that recreational landings were dominated by red snapper, vermilion snapper, and gray triggerfish; landings varied significantly by month and location. The highest fishing effort was in summer and the highest catch rates were in spring and fall; catch rates varied significantly by species and location in some areas. The mean weight of the primary recreational species taken was correlated negatively with time, but statistical similar. Proposed management measures for the FGBNMS are expected to impact some recreational fisheries, but long-term outcomes should benefit the Gulf of Mexico ecosystem.

  4. 货币政策与商业银行风险承担行为--基于上市商业银行微观层面数据的实证研究%Monetary Policy and the Risk-taking Behavior of Commercial Banks---An Empirical Study on the Micro-data from the Listed Commercial Banks

    Institute of Scientific and Technical Information of China (English)

    薛襄稷

    2015-01-01

    This paper utilizes the system of GMM to examine the risk-taking channel of monetary policy and heterogeneity on the risk-taking ability of the commercial banks on the basis of the data from China's 14 listed banks in the year of 2003-2014. It shows that Monetary Policy Tools, whether quantitative or pricing, exert a negative influence on the risk-taking ability of the banking industry. With other factors being constant, banks are liable to take more risks under the loose monetary policy. In addition, Heterogeneity in the aspect of different banking risk-taking abilities exists in banks of different types and with microscopic characteristics. It also indicates that China's monetary policy is far from neutral and monetary authorities should keep alert to the problems of risk-taking abilities facing the banks and other financial institutions, especially the microscopic characteristics hereof, execute different managing strategies and promote the stability of financial system and macro-economy.%利用系统广义矩估计法,对中国2003年-2014年14家上市银行微观数据货币政策银行风险承担渠道及不同银行风险对货币政策反应的异质性问题进行考察,结果显示:无论是数量型还是价格型货币政策工具,均对银行的风险承担均有负向影响,后者的影响大于前者;同时,不同银行类型及微观特征下银行风险承担存在异质性。这说明中国货币政策并非中性的,货币当局应关注银行等金融机构的风险承担问题,尤其要根据银行类型及微观特征,实行差异化管理,维护金融体系和宏观经济的稳定。

  5. Input-output connections between sectors and optimal monetary policy

    OpenAIRE

    Engin Kara

    2009-01-01

    This paper considers the monetary policy implications of a model that features input-output connections between stages of production, so that a distinction between CPI inflation and PPI inflation arises. More specifically, this paper addresses the policy conclusion by K. Huang and Z. Liu [2005, "Inflation targeting: What inflation rate to target", Journal of Monetary Economics 52], which states that central banks should use an optimal inflation index that gives substantial weight to stabilisi...

  6. The health policy implications of international trade in alcohol and tobacco products.

    Science.gov (United States)

    Powell, M

    1989-10-01

    The aim of national alcohol and tobacco preventive health policy is to reduce consumption in order to reduce harm. However, the level of domestic consumption depends upon the interaction of international demand and supply and the development of international trade policy. Trade policy may conflict with or act as a constraint on the implementation of preventive health policy. Trends in alcohol and tobacco trade and developments in international trade policy affecting these products are examined in this paper in relation to health policy goals. Economic models of the links between trade flows, quantities consumed and health effects are then outlined as a preliminary step towards identifying the complex interaction between alcohol and tobacco trade and production, consumption, health and welfare. It is shown that consideration of the economic trade links are an important factor in the development of international and domestic health policy. PMID:2819273

  7. Investigating the health implications of social policy initiatives at the local level: study design and methods

    Directory of Open Access Journals (Sweden)

    Carey Gemma E

    2010-12-01

    Full Text Available Abstract Background In this paper we present the research design and methods of a study that seeks to capture local level responses to an Australian national social policy initiative, aimed at reducing inequalities in the social determinants of health. Methods/Design The study takes a policy-to-practice approach and combines policy and stakeholder interviewing with a comparative case study analysis of two not-for-profit organisations involved in the delivery of federal government policy. Discussion Before the health impacts of broad-scale policies, such as the one described in this study, can be assessed at the population level, we need to understand the implementation process. This is consistent with current thinking in political science and social policy, which has emphasised the importance of investigating how, and if, policies are translated into operational realities.

  8. Banking on the Nation

    DEFF Research Database (Denmark)

    Ravn Sørensen, Anders

    2015-01-01

    In this article, I analyse the narratives of four Danish central bank governors from the late nineteenth century until the mid-1990s. By conducting a historical analysis informed by neo-institutional theory, I show how these central bank governors were continuously involved in public debates over...... the appropriateness and desirability of their decisions and policies. In these debates, interpretations and reproductions of Danish national identity were central to the governors' claims to legitimacy. I argue that past narratives of the Danish central bank and its governors enabled and framed future legitimacy...... claims and that the central bank and its governors gradually became embedded in national identity. Thus, the article highlights the historical development of the co-configuring relationship between Danish national identity and the legitimacy of monetary organization....

  9. Return to General Education and Vocational Education & Training in Indian Context: Policy Implications

    Science.gov (United States)

    Ahmed, Tutan; Chattopadhyay, Raghabendra

    2016-01-01

    Purpose: Measurement of returns to vocational education has always remained a matter of controversy (Psacharopoulos, 1994; Bennell and Segerstrom, 1998; Ziderman, 1997). Based upon the return evidence many World Bank projects were scrapped (Middleton and Ziderman, 1997, Bennell and Segerstrom, 1998). However, there is again a growing interest for…

  10. Soundness of Ethiopian Banks

    Directory of Open Access Journals (Sweden)

    Hamdu Kedir Mohammed

    2015-06-01

    Full Text Available A well-functioning financial institution will sustain a countries economic development and play a great role in reduction of poverty. One of the major participants in the financial institution is the banking industry. However, the mal-functioning of the banking system can be extremely costly to the real economy. As Bank is one of the participants and major key player in the financial institutions, it needs a continuous assessment by its supervisory and management. Mere ratio analyses are commonly used Performance measurement among the banking industry in Ethiopia. Nonetheless, these financial ratios are more of traditional as well as partial measurements. As such this study conducted using CAMEL framework set by bank for international settlement. The study takes secondary data which are gathered from audited annual reports of all banks. The result shows CAMEL framework is the best fit measurement for Ethiopian Banks and it give a comprehensive result which is very helpful for the governor to set a well determined policy and procedure.

  11. Interaction between the EU emissions trading scheme and energy policy instruments in the Netherlands. Implications of the EU Directive for Dutch Climate Policies

    International Nuclear Information System (INIS)

    The present study analyses the potential interactions between the EU Emissions Trading Scheme (EU ETS) and some selected energy and climate policy instruments in the Netherlands. These instruments include: (1) The Benchmarking Covenant (BC): a negotiated agreement with energy-intensive industries in order to improve their energy efficiency; (2) The Regulatory Energy Tax (REB): an ecotax (or levy) on the consumption of gas and electricity, including the partial exemption of this ecotax on renewable electricity; (3) The Environmental Quality of Electricity Production (MEP): a feed-in subsidy system for producers of renewable electricity; and (4) The system of Tradable Green Certificates (TGCs): a system of guarantees of origin to promote renewable electricity based on the partial exemption of the REB. A general finding of the present report is that once the EU ETS becomes operational, the effectiveness of all other policies to reduce CO2 emissions of the participating sectors becomes zero. The report explores the specific implications of this general finding for the coexistence of the EU ETS and the selected policy instruments in the Netherlands. It concludes that this coexistence will have a significant impact on the performance of both the EU ETS and the selected instruments in the Netherlands

  12. Trilogy of China's Banking

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    @@ Banks of China will face declining profit rate and slightly increasing non-performing loans ratio in a short term during 2009, but government policies will reduce the negative impact of financial crisis, and China's financial environment is still relatively safe in a global comparison.

  13. Monetary Policy Proving Effective

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Hu Xiaolian,Vice Governor of the People's Bank of China,the country's central bank,published an article concerning China's managed floating exchange rate regime and the effectiveness of the monetary policy on the bank's website on July 26.She pointed out monetary policy,as an important instrument of China's macroeconomic control,has faced many challenges in recent years.A more flexible exchange rate regime will help improve the effectiveness of the policy.

  14. Study of US/EU National Innovation Policies Based on Nanotechnology Development, and Implications for Korea

    Directory of Open Access Journals (Sweden)

    Lim, Jung Sun

    2015-03-01

    Full Text Available Recently US/EU governments are utilizing nanotechnology as a key catalyst to support national innovation policies with economic recovery goals. US/EU nano policies have been serving as a global model to various countries, including Korea. So the authors initially seek to understand US/EU national innovation policy interconnections, and then find the role of nanotechnology development within. To strengthen national policy coherence, nanotechnology development strategies are under evolution as an innovation catalyst for promoting commercialization. To strategically support nano commercialization, EHS (Environmental, Health, Safety and informatics are invested as priority fields to strengthen social acceptance and sustainability of nano enabled products. The current study explores US/EU national innovation policies including nano commercialization, EHS, and Informatics. Then obtained results are utilized to analyze weaknesses of Korean innovation systems of connecting creative economy and nanotechnology development policies. Then ongoing improvements are summarized focusing on EHS and informatics, which are currently prominent issues in international nanotechnology development.

  15. About The Future Of The Institution Of The Central Bank

    Directory of Open Access Journals (Sweden)

    POP Napoleon

    2012-12-01

    Full Text Available The evolution of the financial crisis is touching more and more the future of the central banks by forcing them, for the sake of solutions to the sovereign debts, to do what in so far appeared almost impossible. We can presume such a future, but for the moment we have to observe that central banks, mainly those emitting money used as reserve currencies – for example FED or ECB – are confronted with a strong depletion of their monetary instruments (their monetary policy interest rates are around zero and a great expansion of their balance sheet as an excuse for being the lenders of last resort. At this point, we have to discuss the perverse effect of reaching the minimum efficacy of the instruments used by the central banks regarded as institution and not only as policy makers enjoying a quite long historical building of their credibility and independence. The latest context of the expansion of their balance sheet is giving strong arguments of their implication in fiscal policy, which might ruin their credibility at a time when we say that the core problem of the global economy is the lack of trust of the investors. The same thing is true with their independence, both issues being conducive to the challenge to the future role of the institution of the central bank. The present realities, encompassing already more than five years of seeking solutions to the crisis still in evolution, incite us to tackle with the outcome for the central banks having in mind that the institutions becoming what we feel today as being central banks are under a certain pressure which is affecting exactly their core features giving to them the greatness we were proud of.

  16. Longevity of Juniperus procera seed lots under different storage conditions: implications for ex situ conservation in seed banks

    Institute of Scientific and Technical Information of China (English)

    Negash Mamo; Diriba Nigusie; Mulualem Tigabu; Demel Teketay; Miftah Fekadu

    2011-01-01

    Juniperus procera Endl. Is economically important timberspecies, but its populations are extremely small and fragmented in itsnatural habitat, thus, calling for immediate ex situ conservation. Here weexamined the effects of seed sources and storage temperature on thelongevity of Juniperus procera seed lots through collection and preserva-tion of seeds in seed banks. Seeds were collected from nine sites acrossthe species natural distribution in Ethiopia and stored in four warehouses:modern cold room (5℃), mud house (15℃), concrete block house (17℃)or corrugated iron house (20℃) for 42 months. Every three months, arandom sample of stored seeds were drawn and tested for germination. Ahighly significant variation (p 0.80; p<0.01). Cold storage also resulted in enhancement ofgermination through its stratification effect that terminated the non-deepphysiological dormancy of juniper seeds. In conclusion, seed lots withgood initial germination can be effectively stored in cold room (5℃) upto four years. In the absence of modern cold stores, mud houses can beused as a good altemative to store seeds at local level.

  17. The impact of bank size and funding risk on bank stability

    Directory of Open Access Journals (Sweden)

    Michael Adusei

    2015-12-01

    Full Text Available Does bank size significantly explain the variations in bank stability? Does bank funding risk significantly impact bank stability? This paper addresses these two questions with data from the rural banking industry in Ghana. Controlling for credit risk, liquidity risk, diversification in the business model, profitability, inflation, financial structure and gross domestic product, the results suggest that an increase in the size of a rural bank results in an increase in its stability. The results also show that funding risk positively impacts bank stability. The positive relationship between size and bank stability has important repercussions for the current debate on whether or not to constrain bank size to insulate the financial system from future crisis. The positive relationship between funding risk and bank stability also has important implications for the current debate on funding of retail banks.

  18. The Effect of Foreign Bank Presence on Domestic Banks Performance: An Evidence from a Developing Economy

    Directory of Open Access Journals (Sweden)

    Usman Bashir

    2014-04-01

    Full Text Available This study examines the effect of foreign bank presence on the behaviour of domestic banks by using the annual data of 37 commercial banks comprising of 7 foreign and 30 domestic banks for the time period of 2007 to 2011. We investigated how net interest margin, return on assets, overhead costs, cost to income and nonperforming loans are effected by the foreign bank presence. We have used panel regression analysis employing bank specific fixed effect model. As a developing country case, the results suggest that the increase in foreign bank share effects the interest margins and profitability of domestic banks in a decreasing manner. It wouldn't be erroneous to express that foreign banks have a positive effect on the competitive environment of domestic banks increasing overall banking standard in Pakistan, the licensing policies should be further liberalized to let new entrants further improve the domestic financial intermediation system.

  19. 12 CFR 614.4080 - Loans and chartered territory-banks for cooperatives.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans and chartered territory-banks for cooperatives. 614.4080 Section 614.4080 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Chartered Territories § 614.4080 Loans and chartered territory—banks...

  20. Banking Bank Charge Debates Continue

    Institute of Scientific and Technical Information of China (English)

    WANG PEI

    2006-01-01

    @@ The saying, "There's no such thing as a free lunch" is one that can be applied to the charges increasingly being imposed on savers by Chinese banks.Ranging from managementfees for small deposit accounts to charges for withdrawals of large amounts of cash, from ATM cross-bank withdrawal charges to annual fees for bank payment cards, charges by banks are becoming a unstoppable trend. But it is not a trend the general public is so keen to accept.

  1. 宏观政策调整下银企关系与公司现金持有策略%Bank-Enterprise Relationship and Corporate Cash Holding Strategy under Macro Policy Adjustment

    Institute of Scientific and Technical Information of China (English)

    杨小平; 罗付岩

    2014-01-01

    This paper investigates whether bank -enterprise relationship and macro policy adjustment can affect the level of corporate cash holding by substituting the degree of difficulty of corporate gaining financial external fund from banks for the level of bank-enterprise relationship .As expected , strong evidence supports that firms with stronger bank -enter-prise relationship tend to hold less cash .Based on the study , it is also found that firms without stronger bank -enterprise relationship hold more cash in the tighter period of monetary policy , owing to excessive costs of external financing .Our findings are in line with both the precautionary motive and pecking order theory of financing for holding cash .%本文用企业获得银行融资贷款的难易程度代替银企关系水平,实证研究银企关系和宏观政策调整是否会影响公司现金持有水平。研究结论显示银企关系密切的公司常常持有更少的现金,反之公司则在货币政策紧缩期间持有更多的现金,这是因为从外部筹集资金的代价过高。这一研究结果符合现金持有的预防性动机理论和融资优序理论。

  2. R&D, firm size and branch of industry : policy implications

    NARCIS (Netherlands)

    Vossen, R.W.

    1998-01-01

    This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during

  3. The invisibility of children's paid and unpaid work: implications for Ethiopia's national poverty reduction policy

    NARCIS (Netherlands)

    Woldehanna, T.; Jones, N.; Tefera, B.

    2008-01-01

    The complexities of intergenerational and gendered intra-household resource allocations are frequently overlooked in poverty reduction policies. To address this lacuna, this article focuses on links between macro-development policies and children's paid and unpaid work burden in Ethiopia. Using a mi

  4. The Impact of Teacher Experience: Examining the Evidence and Policy Implications. Brief No. 11

    Science.gov (United States)

    Rice, Jennifer King

    2010-01-01

    In education, teacher experience is probably "the" key factor in personnel policies that affect current employees: it is a cornerstone of traditional single-salary schedules; it drives teacher transfer policies that prioritize seniority; and it is commonly considered a major source of inequity across schools and, therefore, a target for…

  5. Implications of China's Open-Door Policy for Families: A Family Impact Analysis

    Science.gov (United States)

    Quach, Andrew S.; Anderson, Elaine A.

    2008-01-01

    China's open-door policy (ODP) was created in 1978 as a response to the severe economic depression affecting the country after the Cultural Revolution. The policy was designed to restore China's financial status and lift the nation out of destitution. By all accounts, the ODP has been successful in improving the country's monetary condition.…

  6. The Implications for Educational Research of a Changing Federal Educational Policy. Occasional Paper No. 4.

    Science.gov (United States)

    Clark, David L.; Astuto, Terry A.

    Dramatic changes in the direction of federal educational policy have occurred since the Reagan administration took office in 1980. This document examines the changes that are taking place and will continue to occur in the emerging policy stance of this administration toward educational research. The thesis is that a form of the "new federalism" in…

  7. Towards Competent Systems in Early Childhood Education and Care. Implications for Policy and Practice

    Science.gov (United States)

    Urban, Mathias; Vandenbroeck, Michel; Van Laere, Katrien; Lazzari, Arianna; Peeters, Jan

    2012-01-01

    The close connection between the quality of provision for young children and professionalisation of the field has long been supported by international research. That the two are inseparable aspects of one picture is beginning to become accepted at European policy level, as evident in recent high level EU policy documents. This article explores the…

  8. The Invisibility of Children's Paid and Unpaid Work: Implications for Ethiopia's National Poverty Reduction Policy

    Science.gov (United States)

    Woldehanna, Tassew; Jones, Nicola; Tefera, Bekele

    2008-01-01

    The complexities of intergenerational and gendered intra-household resource allocations are frequently overlooked in poverty reduction policies. To address this lacuna, this article focuses on links between macro-development policies and children's paid and unpaid work burden in Ethiopia. Using a mixed methods approach, quantitative household…

  9. Is shadow banking really banking?

    OpenAIRE

    Bryan J. Noeth; Rajdeep Sengupta

    2011-01-01

    To those who don't know, the term "shadow banking" probably has a negative connotation. This primer draws parallels between what has been termed the shadow banking sector and the traditional banking sector—showing that they are similar in many ways.

  10. On the Implications of Knowledge Bases for Regional Innovation Policies in Germany

    Directory of Open Access Journals (Sweden)

    Hassink Robert

    2014-12-01

    Full Text Available Regional innovation policies have been criticised for being too standardised, one-size-fits-all and place-neutral in character. Embedded in these debates, this paper has two aims: first, to analyse whether industries with different knowledge bases in regions in Germany have different needs for regional innovation policies, and secondly, to investigate whether knowledge bases can contribute to the fine-tuning of regional innovation policies in particular and to a modern, tailor-made, place-based regional innovation policy in general. It concludes that although needs differ due to differences in knowledge bases, those bases are useful only to a limited extent in fine-tuning regional innovation policies

  11. Evolution of China’s Forestry Policies since 1949 and Experience and Implications

    Institute of Scientific and Technical Information of China (English)

    Yunhong; HU; Junjie; HE

    2013-01-01

    Since 1949,the Chinese Communist Party ( CPC) and government have formulated series of policies to promote construction and development of forestry. The evolution of forestry policies brings constant deepening of understanding of the Party and government about forestry development laws. Forestry policies evolve from emergency and provisional to systematic and overall functions,making them become more scientific,pertinent and prospective. Besides,formulation of forestry policies is gradually influenced by international factors. When formulating forestry policies,it is required to follow forestry development laws,keep pace with time,and make constant improvement in practice,to suit demands of times and social development,and prudently handle the relationship between economic benefits and ecological benefits of forestry.

  12. Investigating the Performance of Islamic Banks in Bangladesh

    OpenAIRE

    Md. Ibrahim; Kazi Deen Mohammad; Nazamul Hoque; Mohammad Aktaruzzaman Khan

    2014-01-01

    Around the world Islamic banking system is getting popularity gradually due to its multidimensional benefits. Consequently, many tradition banks have been converted (such as FSIBL and EIBBL) into Islamic Sharia’h based banks for the superiority of Islamic banking system. Thus, it is the curiosity of the investors, depositors, researchers and policy makers to know the performance of Islamic banks operating in Bangladesh. So, taking secondary data from the annual reports of the sample banks, th...

  13. The Emission Reduction Potential of Non-CO2 Greenhouse Gases in China and its Policy Implications

    OpenAIRE

    Huang, Delin; Cai, Songfeng; Wang, Zhen

    2013-01-01

    Using the improved Energy-Environmental Version of the GTAP Model (GTAP-E) and the sixth version of emission database of non-CO2 greenhouse gases, we simulate the emission reduction potential of non-CO2 greenhouse gases in China and its policy implications. The results show that at present, China is a country with the greatest emission of non-CO2 greenhouse gases in the world, and the emission will account for about 20% of the world's total emission in 2020. The proportion of emission of non-...

  14. The Emission Reduction Potential of Non-CO2 Greenhouse Gases in China and Its Policy Implications

    Institute of Scientific and Technical Information of China (English)

    Delin; HUANG; Songfeng; CAI; Zhen; WANG

    2013-01-01

    Using the improved Energy-Environmental Version of the GTAP Model (GTAP-E) and the sixth version of emission database of non-CO2 greenhouse gases, we simulate the emission reduction potential of non-CO2 greenhouse gases in China and its policy implications. The results show that at present, China is a country with the greatest emission of non-CO2 greenhouse gases in the world, and the emission will account for about 20% of the world’s total emission in 2020. The proportion of emission of non-CO2 greenhouse gases from the agricultural sector reaches 73%. In the next 10 years, the emission of non-CO2 gases from cattle and sheep, industry and service industry will experience the highest growth rate; the growth rate of emission from service industry will be higher than that of emission from industry, and the emission from service industry will exceed that from industry after 2010. China can implement emission reduction policy of non-CO2 greenhouse gases to ease the international pressure of CO2 emission reduction. Although the high carbon tax collected can reduce considerable non-CO2 emission, there is little difference in policy efficiency between high carbon tax and low carbon tax. So, in the implementation of emission reduction carbon tax policy of non-CO2 gases, it is necessary to control the carbon tax at a low level.

  15. Bank Lending, Housing and Spreads

    DEFF Research Database (Denmark)

    Aslam, Aqib; Santoro, Emiliano

    of private borrowing between collaterally-constrained 'impatient' households and unconstrained 'patient' households, such as those put forward by Kiyotaki and Moore (1997) and Iacoviello (2005), is counteracted by the banking attenuator effect, given an endogenous steady state spread between loan and savings......The framework presented in this paper takes its cue from recent financial events and attempts to develop a tractable framework for policy analysis of macro-linkages, in particular a first attempt at the integration of an independent profit-maximising banking sector that lends to and borrows from...... agents in the economy, and through which changes in the monetary policy rate by the central bank are transmitted. The inter-linkages between housing and the role of the banking sector in the transmission of monetary policy is emphasized. Two competing effects are highlighted: (i) a financial accelerator...

  16. Public policy and medical tourism: ethical implications for the Egyptian health care system.

    Science.gov (United States)

    Haley, Bob

    2011-01-01

    Egypt's medical tourism industry has been experiencing tremendous growth. However, Egypt continues to lack the necessary investment in its public health system to effectively care for its population. Current policy and the emergence of medical tourism have led to unequal health care access, resulting in high a prevalence of infectious diseases and lack of resources for its most vulnerable populations. As a new Egyptian government emerges, it is important for policymakers to understand the critical issues and ethical concerns of existing health policy. This understanding may be used to propose new policy that more effectively allocates to care for Egypt's population. PMID:22619867

  17. Central Bank independence

    Directory of Open Access Journals (Sweden)

    Vasile DEDU

    2012-08-01

    Full Text Available In this paper we present the key aspects regarding central bank’s independence. Most economists consider that the factor which positively influences the efficiency of monetary policy measures is the high independence of the central bank. We determined that the National Bank of Romania (NBR has a high degree of independence. NBR has both goal and instrument independence. We also consider that the hike of NBR’s independence played an important role in the significant disinflation process, as headline inflation dropped inside the targeted band of 3% ± 1 percentage point recently.

  18. Public policy and regulatory implications for the implementation of Opportunistic Cloud Computing Services for Enterprises

    DEFF Research Database (Denmark)

    Kuada, Eric; Olesen, Henning; Henten, Anders

    2012-01-01

    Opportunistic Cloud Computing Services (OCCS) is a social network approach to the provisioning and management of cloud computing services for enterprises. This paper discusses how public policy and regulations will impact on OCCS implementation. We rely on documented publicly available government...... and corporate policies on the adoption of cloud computing services and deduce the impact of these policies on their adoption of opportunistic cloud computing services. We conclude that there are regulatory challenges on data protection that raises issues for cloud computing adoption in general; and the lack...... of a single globally accepted data protection standard poses some challenges for very successful implementation of OCCS for companies. However, the direction of current public and corporate policies on cloud computing make a good case for them to try out opportunistic cloud computing services....

  19. Paradigmatic obstacles to improving the health of populations: implications for health policy

    Directory of Open Access Journals (Sweden)

    McKinlay John B.

    1998-01-01

    Full Text Available While there are promising developments in public health, most interventions (both at the individual and community levels remain focused on "downstream" tertiary treatments or one-on-one interventions. These efforts have their origins in the biomedical paradigm and risk factor epidemiology and the behavioral science research methods that serve as their handmaidens. This paper argues for a more appropriate balance of "downstream" efforts with a more appropriate whole population public health approach to health policy -what may be termed a social policy approach to healthy lifestyles rather than the current lifestyle approach to health policy. New, more appropriate research methods must be developed and applied to match these emerging levels of whole population intervention. We must avoid any disjunction between new upstream policy level interventions and the methods used to measure their effect -appropriate unto the intervention level must be the evaluation method thereof.

  20. ON THE IMPLICATIONS OF TECHNOLOGICAL INNOVATION FOR ENVIRONMENTAL POLICY. (R826153)

    Science.gov (United States)

    The perspectives, information and conclusions conveyed in research project abstracts, progress reports, final reports, journal abstracts and journal publications convey the viewpoints of the principal investigator and may not represent the views and policies of ORD and EPA. Concl...