WorldWideScience

Sample records for bank policy implications

  1. Monetary Policy and Central Banking after the Crisis: The Implications of Rethinking Macroeconomic Theory

    OpenAIRE

    Thomas I. Palley

    2011-01-01

    The financial crisis and Great Recession have prompted a rethink of monetary policy and central banking. The status quo insider rethink focuses on the role of monetary policy in dealing with asset bubbles; making the central bank the banking system supervisor; and how to deal with the problem of the zero lower bound to nominal interest rates. This paper presents an outsider reform program that focuses on central bank governance and independence; reshaping the economic philosophy of central ba...

  2. 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.

  3. 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 ect...... outcomes in the money market. The third, "Collateralized Lending and Central Bank Collateral Policy", considers the emergence of credit constraints under collateralized lending, and how central banks use collateral policy to mitigate these constraints. While the chapters can be read independently, they...... share common themes. Each chapter is concerned with payments in one way or another, each is concerned with the e ciency of market outcomes, and, to the extent that there is scope for improving these outcomes, each discusses the appropriate role for policy, in particular central bank policy....

  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. 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...

  6. 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 BANKS POWERS AND RESPONSIBILITIES OF BANK BOARDS OF DIRECTORS AND SENIOR MANAGEMENT § 917.4 Bank...

  7. Does Bank Ownership Affect the Credit Channel of Monetary Policy?

    OpenAIRE

    Fatih Macit

    2012-01-01

    In this article I investigate whether bank ownership affects the credit channel of monetary policy by looking at the Turkish banking sector from the period 2006 to 2010. I analyze whether public banks, foreign banks, and private banks respond differently to changes in monetary policy by looking at the growth rate of their loan sizes. Controlling for certain bank-specific variables, I find that public banks show the smallest response to changes in monetary policy whereas foreign banks exhibit ...

  8. 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.

  9. 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".

  10. 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...

  11. 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...

  12. Macroprudential policies and the growth of bank credit

    OpenAIRE

    Paul H. Kupiec; Claire Rosenfeld; Yan Lee

    2013-01-01

    New bank regulations include macroprudential policies to control bank loan growth. We find bank funding costs and supervisory monitoring intensity to be the most important determinants of loan growth followed by loan portfolio performance and bank profitability. Bank capital and liquidity ratios have limited impacts, suggesting that macroprudential regulations are unlikely to be effective.�

  13. 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

  14. 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...

  15. 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...

  16. Forest sector: A World Bank policy paper

    International Nuclear Information System (INIS)

    Forests are the most extensive terrestrial ecosystem, and nearly 500 million people depend on forests for their livelihood. Since the World Bank issued its forestry sector policy paper in 1978, there has been growing concern about the accelerated rate of destruction of the remaining primary forests in various parts of the world. The policy paper identifies two key challenges: to slow the alarmingly rapid rates of deforestation, especially (although not exclusively) in the tropical moist forests, and to ensure adequate planting of new trees to meet the rapidly growing demand for fuelwood in developing countries. The Bank intends to move vigorously to promote the conservation of natural forests and the sustainable development of managed forestry resources

  17. Forest sector: A world bank policy paper

    International Nuclear Information System (INIS)

    Forests are the most extensive terrestrial ecosystem, and nearly 500 million people depend on forests for their livelihood. Since the World Bank issued its forestry sector policy paper in 1978, there has been growing concern about the accelerated rate of destruction of the remaining primary forests in various parts of the world. The policy paper identifies two key challenges: to slow the alarmingly rapid rates of deforestation, especially (although not exclusively) in the tropical moist forests, and to ensure adequate planting of new trees to meet the rapidly growing demand for fuelwood in developing countries. The Bank intends to move vigorously to promote the conservation of natural forests and the sustainable development of managed forestry resources

  18. Financial Frictions and Real Implications of Macroprudential Policies

    Czech Academy of Sciences Publication Activity Database

    Derviz, Alexis

    2012-01-01

    Roč. 3, č. 26 (2012), s. 333-368. ISSN 1555-4961 Institutional support: RVO:67985556 Keywords : Debt * Equity * Bank * Default * Macroprudential policy Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2012/E/Derviz-financial frictions and real implications of macroprudential policies.pdf

  19. Dividend Policy and Shareholders’ Wealth in Nigerian Quoted Banks

    Directory of Open Access Journals (Sweden)

    S Ojeme

    2014-12-01

    Full Text Available In 2008, the global financial meltdown was partly responsible for the bearish movement of stock prices in the Nigerian Stock Exchange. This shows that more than a single factor could be responsible for the movement of prices of quoted stocks. Company performance and information about the introduction of new technologies are among the factors that have significantly affected the market value of shares in the past. Therefore, this paper examines empirically, the implications of adopted dividend policies on the value of shareholders’ wealth and the extent to which dividend policy affects the market value of shares in quoted banks in Nigeria. The paper focuses on the situation before and after the financial meltdown. Correlation results of dividend paid in 2007-2010 and their corresponding market value showed that payment of dividend by quoted banks is relevant to their market value and the amount paid as dividend affects the value of their share. The paper also provides insight into the implications and effect’s of policy decisions as it affects dividend payout and dividend retained for further growth on shareholders’ wealth.

  20. 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...

  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 and Bank Hetrogeneity: Effectiveness of Bank Lending Channel in Pakistan

    OpenAIRE

    Rahooja, Sabbah; Ali, Asif; Ahmed, Jameel; Hussain, Fayyaz; Rifat, Rizwana

    2014-01-01

    We investigate, using vector autoregressions (VAR) and Panel Data Analysis, the role of banks in monetary policy transmission in Pakistan. Empirical evidence suggests that the 'bank lending channel' is at work at the aggregate level. Loans, deposits and government securities all reduce after a shock to the monetary policy. When we examine bank heterogeneity in terms of size, liquidity and capitalization, the results are mixed. Size is found to be a relevant characteristic. Capitalization, mea...

  5. World bank's role in the electric power sector: Policies for effective institutional, regulatory, and financial reform. World Bank policy paper

    International Nuclear Information System (INIS)

    The policy paper is based on the World Bank Industry and Energy Department's ongoing policy and research work, which (1) examines experiences of industrial countries and the Bank's borrowers in developing their power sectors, (2) analyzes issues facing these sectors, and (3) describes options for dealing with these issues in developing countries. The paper is supported by a large body of research

  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. Discount Window Policy, Banking Crises, and Indeterminacy of Equilibrium

    OpenAIRE

    Gaetano Antinolfi; Todd Keister

    2003-01-01

    We examine optimal discount window policy in an economy with a linear investment technology and aggregate liquidity shocks. Unrestricted lending at the discount window prevents large shocks from causing banking crises, but leads to indeterminacy of stationary equilibrium. We show how a policy of offering discount-window loans at an above-market interest rate generates a unique stationary monetary equilibrium. Under such a policy, banking crises occur with positive probability in equilibrium, ...

  10. 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…

  11. 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...

  12. 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 ...

  13. Monetary Policy Implications of Electronic Money

    OpenAIRE

    Berentsen, Aleksander

    1997-01-01

    The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks and the reaction of the banking system.

  14. Policy Implications of Ageing Sexualities

    OpenAIRE

    Heaphy, B; Yip, A.K.T.

    2006-01-01

    This article aims to open up debate on the policy implications of ageing sexualities. The article begins by discussing the heteronormative perspective that frames current discourse on older people’s needs and citizenship. It then presents data from an empirical study to highlight the concerns that older lesbians and gay men have about housing, health and social service provision, work and job security, and relationship recognition. The article illustrates how the heterosexual assumption...

  15. Policy implications of greenhouse warming

    Science.gov (United States)

    Coppock, Rob

    1992-03-01

    A study panel of the National Academy of Sciences, National Academy of Engineering, and Institute of Medicine recently issued the report Policy Implications of Greenhouse Warming. That report examined relevant scientific knowldeg and evidence about the potential of greenhouse warming, and assayed actions that could slow the onset of warming (mitigation policies) or help human and natural systems of plants and animals adapt to climatic changes (adaptation policies). The panel found that, even given the considerable uncertainties knowledge of the relevant phenomena, greenhouse warming poses a threat sufficient to merit prompt action. People in this country could probably adapt to the changes likely to accompany greenhouse warming. The costs, however, could be substantial. Investment in mitigation acts as insurance protection against the great uncertainties and the possibility of dramatic surprises. The panel found mitigation options that could reduce U.S. emissions by an estimated 10 to 40 percent at modest cost.

  16. Regulation of Communication Policy of Modern Banks

    OpenAIRE

    Ketova Natalia, P.; Ovchinnikov Victor, .N.

    2016-01-01

    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 i...

  17. World Bank education policy: market liberalism meets ideological conservatism.

    Science.gov (United States)

    Puiggrós, A

    1997-01-01

    Neoliberalism does not consider education a strategic investment. World Bank discourse for Latin America lacks a medium- and long-term view and is based on a short-term cost-benefit analysis. The Bank's education policy is determined by "adjustment" of countries economies so that they can go on paying their external debts. The goal is to eliminate educational expenses for the states by keeping education for elites, breaking up and privatizing the large public education systems, and nullifying teachers' contracts. To justify its policy, the Bank argues that governments should stop financing secondary and higher education and instead focus on primary education, where investments would be more efficient. But at the same time, governments should shift the financing of primary education to the private sector. Teachers' unions are now at the forefront of opposition to the World Bank's education reforms. PMID:9142599

  18. 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...

  19. 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...

  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. Bank procyclicality and output: Issues and policies

    OpenAIRE

    Athanasoglou, Panayiotis; Ioannis, Daniilidis; Manthos, Delis

    2013-01-01

    The recent global financial crisis has highlighted the importance of the procyclicality of the financial sector. The procyclicality has transformed banks from mitigation mechanisms to amplifiers of changes in economic activity, potentially affecting financial stability and economic growth. The causes of procyclicality can be attributed to market imperfections and deviations from the efficient market hypothesis, while other factors including the Basel-type regulations, accounting standards and...

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

    International Nuclear Information System (INIS)

    Climate change affects us all. Citizens, companies, governments and other organisations must all work to find solutions for this problem. Banks and financial institutions share this responsibility, as their loans and investments can have a strong influence on the development of polluting and clean industries, on climate friendly products and on other possibilities to reduce climate change. The good news is that more and more banks are acknowledging their responsibility. Several banks in the Netherlands and elsewhere have been trying to reduce their contribution to climate change in the past few years. Milieudefensie (Friends of the Earth Netherlands) urges Dutch banks to learn from these experiences and to take rapid and profound action in all the fields described in this climate policy toolkit. It is possible to sufficiently slow down climate change, but only if all concerned parties act fast

  5. 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.

  6. 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…

  7. 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 ...

  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. 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.

  10. Business Cycles, Monetary Policy, and Bank Lending: Identifying the bank balance sheet channel with firm-bank match-level loan data

    OpenAIRE

    "Hosono, Kaoru"; MIYAKAWA Daisuke

    2014-01-01

    This paper examines the impact of business cycles and monetary policy on bank loan supply. To this end, we use a unique firm-bank match-level dataset covering listed firms in Japan that allows us to control for firms' time-varying unobservable loan demand and endogenous bank-firm matching, so that we can identify the effects of business cycles and monetary policy on loan supply through the bank balance sheet channel. The estimation results indicate that banks with more liquidity or capital te...

  11. Research policy and review 20. The World Bank's urban transport policy: authorised version, revised version and the apocrypha

    OpenAIRE

    P J Rimmer

    1987-01-01

    Since their incursion into urban transport policymaking in developing countries during the early 1970s, World Bank economists have played a pivotal role in shaping the research agenda. The publication of the World Bank's revised policy statement, therefore, provides an opportunity to gauge changes in its policy directions over the past decade and assess challenges to what is now the new orthodoxy. Initially, attention is focused on key elements in the World Bank's original policy statement wi...

  12. 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.

  13. 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.

  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. 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...

  16. Societal Aging: Implications for Fiscal Policy

    OpenAIRE

    Auerbach, Alan J

    2012-01-01

    This paper considers implications of population aging for the conduct of fiscal policy, grouping the issues into four areas, focusing on the impact of aging on: (1) the size of government budget imbalances; (2) the composition of government spending and government budget flexibility; (3) the composition of tax collections and the desirability of alternative tax systems; and (4) the effectiveness of fiscal policy as a tool for stabilization. Societal aging puts considerable stress put on publi...

  17. 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.

  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

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What risk management, record keeping and reporting policies are required to make merchant banking investments? 225.175 Section 225.175 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM BANK...

  19. 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...

  20. Policy Implications of Social Justice in Education

    Science.gov (United States)

    Bull, Barry

    2009-01-01

    This article analyzes the implications of a particular conception of social justice in education for the policies that have led to significant political controversies in contemporary communities in the United States. Many of these controversies have arisen from the collision between the increasingly multicultural reality in those communities and…

  1. Transnational Education: Current Developments and Policy Implications

    Science.gov (United States)

    Gu, Jianxin

    2009-01-01

    Ever since the transnational education trend took off since the 1980s, transnational education has come to bearing political, economic and cultural implications. Different approaches have been formulated to achieve specific policy objectives by both importing and exporting countries. Such approaches demonstrate a four dimensional composition,…

  2. Reserve Bank of India’s Policy Dilemmas: Reconciling Policy Goals in Times of Turbulence

    OpenAIRE

    Carrasco, Bruno; Mukhopadhyay, Hiranya

    2014-01-01

    This paper reviews some of the more critical policy dilemmas facing the Reserve Bank of India (RBI) in its pursuit of inflation stabilization and balanced growth objectives. The challenge in meeting these objectives further increased in the mid-2000s with the advent of large capital flows into the country and with RBI's role in preserving financial stability. The paper argues, drawing on several empirical results including Taylor rule estimation and nonparametric regression, that there is no ...

  3. The deposit operations of commercial banks of Ukraine, their organization and deposit policy

    OpenAIRE

    Bobyl, V. V.; Kornilenko, M. S.

    2015-01-01

    The purpose. The work is devoted to the nature of the Deposit activity of the Bank, to highlight the features of the Deposit policy of the Bank and ways of increase of efficiency of management of the Deposit operations of the Bank. The basic problems faced by banks in implementing their Deposit activity, in particular: lack of active-passive operations of banks, the lack of resources accumulated by banking institutions to ensure the financial needs of the economy. The main ways to improve Dep...

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

    OpenAIRE

    Dumiter Florin Cornel

    2012-01-01

    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 ...

  5. Monetary Policy Transmission in China: A DSGE Model with Parallel Shadow Banking and Interest Rate Control

    OpenAIRE

    Michael Funke; Petar Mihaylovski; Haibin Zhu

    2015-01-01

    The paper sheds light on the interplay between monetary policy, the commercial banking sector and the shadow banking sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding constraints. In particular, we analyze the impacts of interest rate liberalization on monetary policy transmission as well as the dynamics of the parallel shadow banking sector. Comparison of various interest rate liberalization scenarios reveals that monetary ...

  6. Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control

    OpenAIRE

    Funke, Michael; Mihaylovski, Petar; ZHU, Haibin

    2015-01-01

    The paper sheds light on the interplay between monetary policy, the commercial banking sector and the shadow banking sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding constraints. In particular, we analyze the impacts of interest rate liberalization on monetary policy transmission as well as the dynamics of the parallel shadow banking sector. Comparison of various interest rate liberalization scenarios reveals that monetary ...

  7. 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.

  8. 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.

  9. Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment Based on Matching Impulse Responses

    OpenAIRE

    Hülsewig, Oliver; Mayer, Eric; Wollmershäuser, Timo

    2005-01-01

    This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking firm, in which banks decide on their loan supply in the light of uncertainty about the future course of monetary policy. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock in consideration of the reaction of the output level and the loan rate. We estimate our model to characterize the response of bank loans by...

  10. 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...

  11. What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?

    OpenAIRE

    Stein, Jeremy C.; Kashyap, Anil K.

    2000-01-01

    We study the monetary-transmission mechanism with a data set that includes quarterly observations of every insured U.S. commercial bank from 1976 to 1993. We find that the impact of monetary policy on lending is stronger for banks with less liquid balance sheets--i.e., banks with lower ratios of securities to assets. Moreover, this pattern is largely attributable to the smaller banks, those in the bottom 95 percent of the size distribution. Our results support the existence of a "bank lending...

  12. 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.

  13. 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...

  14. The ECB's Unconventional Monetary Policies: Have they lowered market borrowing costs for banks and governments?

    OpenAIRE

    Szczerbowicz, Urszula

    2014-01-01

    This paper evaluates the impact of the European Central Bank's (ECB) unconventional policies on bank and government borrowing costs. We employ event-based regressions to assess and compare the effects of asset purchases and exceptional liquidity announcements on the money markets, covered bond markets, and sovereign bond markets. The results show that (i) exceptional liquidity measures (3-year loans to banks and setting the ECB deposit rate to zero) significantly reduced persistent money mark...

  15. 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...

  16. 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...

  17. 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...

  18. Prospects for Prudential Policy: Toward Achieving an Efficient and Stable Banking System

    OpenAIRE

    Oda, Nobuyuki; Shimizu, Tokiko

    2000-01-01

    This paper examines how public intervention (prudential policy) in the banking area should be pursued and aims at providing points for discussion in considering what kind of system should be established to promote both the efficiency and stability of banking functions. The basic thrust of the paper is that it is effective to utilize market mechanisms to improve the efficiency of banking functions and that public intervention is justified in coping with various market failures if optimality is...

  19. 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...

  20. 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

  1. 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...

  2. Norges Bank Watch 2002: An Independent Review of Monetary Policy and Institutions in Norway

    OpenAIRE

    Svensson, Lars E.O.; Houg, Kjetil; Solheim, Haakon O. Aa.; Steigum, Erling, Jr

    2002-01-01

    The Centre for Monetary Economics (CME) at the Norwegian School of Management BI has for the third time invited a committee of economists for Norges Bank Watch, with the objective to evaluate the monetary-policy regime in Norway and Norges Bank’s conduct of monetary policy. The committee for Norges Bank Watch 2002 consists of Professor Lars E.O. Svensson (chair), Princeton University, Chief Economist Kjetil Houg, Alfred Berg, Doctorate Student Haakon O.Aa. Solheim, Norwegian School of Managem...

  3. 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...

  4. Heterogeneous Bank Lending Responses to Monetary Policy: New Evidence from a Real-time Identifiation

    OpenAIRE

    John C. Bluedorn; Bowdler, Christopher; Koch, Christoffer

    2009-01-01

    Heterogeneity in bank responses to monetary policy is consistent with an aggregate lending channel. However, estimates of bank responses are typically obtained using realized federal funds rate changes, which are endogenous to expected, macroeconomic fundamentals. As such, estimated heterogeneity can arise from expected fundamentals. Using an exogenous policy measure identified from narratives on FOMC intentions and real-time forecasts, we ?nd greater heterogeneity in responses. There is a mu...

  5. Norges Bank Watch 2013: An Independent Evaluation of Monetary Policy in Norway

    OpenAIRE

    Boye, Katrine Godding; Sveen, Tommy

    2013-01-01

    This report, Norges Bank Watch 2013, is an evaluation of the conduct of monetary policy in Norway in 2012. In addition, the report follows up on some themes introduced in previous Norges Bank Watch reports. In section 2 we review and comment on Norges Bank’s monetary policy in 2012. Most comments concern monetary policy in the first part of 2012, i.e. including the March Monetary Policy Report. NBW 2013 has three main comments to make. First, the rate cut of 25bp at the Marc...

  6. 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.

  7. 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…

  8. 12 CFR 225.142 - Statement of policy concerning bank holding companies engaging in futures, forward and options...

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Statement of policy concerning bank holding companies engaging in futures, forward and options contracts on U.S. Government and agency securities and... concerning bank holding companies engaging in futures, forward and options contracts on U.S. Government...

  9. 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, ...

  10. 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...

  11. IMPLICATION OF BASEL II AND BASEL III ON BANKING SYSTEM

    OpenAIRE

    Paul M. Angwenyi

    2015-01-01

    The wave of globalization appeared on India’s shores in 1991 and to get their banking systems at par with the global standards in terms of financial health, safety and transparency, implement the Basel Norms by 1992.The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. Basel I which focuses more on credit...

  12. 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

  13. Determinants of Commercial Bank Performance and Its Implication on China Banking Reform

    OpenAIRE

    Lin, Zhuoxi

    2011-01-01

    The China banking reform started in 1987, for years it is processed in a view of improving efficiency and resource allocation. The most recent reform have been carried out to focus on the joint stock reform related to privatisation and listing of bank shares, liberalisation of business to the foreign banks, encouraging diversifications into intermediary business beyond the traditional deposit and loan activities, and the consolidation reform of the city and rural commercial banks. Meanwhile, ...

  14. 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.

  15. Oceanic implications for climate change policy

    International Nuclear Information System (INIS)

    Under the United Nations convention on the law of the sea (1982), each participating country maintains exclusive economic and environmental rights within the oceanic region extending 200 nm from its territorial sea, known as the exclusive economic zone (EEZ). Although the ocean within each EEZ is undoubtedly an anthropogenic CO2 sink, it has been over-looked within international climate policy. In this paper I use an area-weighted scaling argument to show that the inclusion of the EEZ CO2 sink within national carbon accounts would have significant implications in tracking national greenhouse commitments to any future climate change policy initiative. The advantages and disadvantages for inclusion of the EEZ CO2 sink into global climate change policy are also explored. The most compelling argument for including the EEZ CO2 sink is that it would enhance the equity and resources among coastal nations to combat and adapt against future climate change that will inherently impact coastal nations more so than land locked nations. If included, the funds raised could be used for either monitoring or adaptive coastal infrastructure among the most vulnerable nations. On the other hand, the EEZ anthropogenic CO2 sink cannot be directly controlled by human activities and could be used as a disincentive for some developed nations to reduce fossil-fuel related greenhouse gas emissions. This may therefore dampen efforts to ultimately reduce atmospheric greenhouse gas concentrations. In consideration of these arguments it is therefore suggested that an 'EEZ clause' be added to Kyoto and any future international climate policy that explicitly excludes its use within national carbon accounts under these international climate frameworks

  16. 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...

  17. Bank loans versus bond finance: implications for sovereign debtors

    OpenAIRE

    Misa Tanaka

    2005-01-01

    This paper develops a model to analyse the optimal choice between bank loans and bond finance for a sovereign debtor. We show that if banks have better information about their borrowers compared to bondholders, only the least risky sovereigns issue bonds. But if borrowers can be 'publicly monitored' by an outside agency that disseminates the information about their creditworthiness, their choice between bank loans and bond finance is determined endogenously by the trade-off between two deadwe...

  18. Revenue diversification in emerging market banks: implications for financial performance

    OpenAIRE

    Ben Gamra, Saoussen; Plihon, Dominique

    2011-01-01

    Shaped by structural forces of change, banking in emerging markets has recently experienced a decline in its traditional activities, leading banks to diversify into new business strategies. This paper examines whether the observed shift into non-interest based activities improves financial performance. Using a sample of 714 banks across 14 East-Asian and Latin-American countries over the post 1997-crisis changing structure, we find that diversification gains are more than offset by the cost o...

  19. 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.

  20. 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.

  1. 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.

  2. 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...

  3. 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

  4. Comparative Advantage, Industrial Policy and the World Bank: Back to First Principles

    OpenAIRE

    Singh, Ajit

    2011-01-01

    Abstract This paper provides a critical analysis of the World Bank’s new thinking on industrial policy. After outlining the changing perspectives on industrial policy put forward by the World Bank over the last three decades, we argue that the bank’s economists have taken one step forward (the approval for the enhanced role of the state) but also one if not two steps backward (by strong encouragement to countries to seek their current comparative advantage in pursuing industrial policy)....

  5. 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...

  6. 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.

  7. 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...

  8. THE EFFECT OF SPIN-OFF POLICY ON FINANCING GROWTH IN INDONESIAN ISLAMIC BANKING INDUSTRY

    Directory of Open Access Journals (Sweden)

    M. Nur Rianto Al Arif

    2015-06-01

    Full Text Available The purpose of this paper is to analyze the relationship between spin-off policy on the financing growth of Islamic banking industry in Indonesia. This research used panel regression with fixed effect. The variable used in this paper is dummy variabel of spin-off, and also included the internal factor of industry such as third party fund, and efficiency ratio (measured by BOPO. Besides the internal factor, this research also included the external factor such as inflation rate, economic growth rate, and interest rate from conventional banking. The result shows that only third part funds and interest rate had an impact on the financing growth in spin-off banks. The spin-off policy doesn’t have an impact on the financing growth in spin-off banks

  9. 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...

  10. 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.

  11. 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...

  12. 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\\". ...

  13. 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.

  14. What Do a Million Banks Have to Say About the Transmission of Monetary Policy?

    OpenAIRE

    Kashyap, Anil K.; Stein, Jeremy C.

    1997-01-01

    In an effort to shed new light on the monetary transmission mechanism, we create a panel data set that includes quarterly observations of every insured commercial bank in the United States over the period 1976-1993. Our key cross-sectional finding is that the impact of monetary policy on lending behavior is significantly more pronounced for banks with less liquid balance sheets -- i.e., banks with lower ratios of cash and securities to assets. Moreover, this result is entirely attributable to...

  15. 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.

  16. The World Bank???s policy reports in Google Scholar. Are they visible, cited, and downloaded?

    OpenAIRE

    Mart??n-Mart??n, Alberto; Ayll??n Mill??n, Juan Manuel; Ordu??a-Malea, Enrique; Delgado L??pez-C??zar, Emilio

    2014-01-01

    Although the main goal of this work is to assess the use and impact of the World Bank???s reports, it is included in the Google Scholar???s Digest reviews because the authors not only analyse the visibility of those documents in Google Scholar but also use this database to measure the impact of these reports through their citations. In any case, we only address in this review the results that are directly associated with Google Scholar. Since the study reviewed only analyses a limited sample ...

  17. Inflation Targeting-Fundamental Objective of the Monetary Policy of Romanian National Bank (BNR)

    OpenAIRE

    PhD. Apetri Anisoara Niculina; PhD. Mihalciuc Camelia Catalina

    2009-01-01

    After the 80’s, a lot of central banks have shifted from the evolution of the monetary aggregates towards inflation targeting, case in which have been eliminated the intermediate objectives of the monetary policy. Hereby, in the 90’s, the growing preoccupation for ensuring price stability as a premise for long-term economic growth has materialized in the adoption of the central banks from many countries of a new monetary policy strategy. Direct inflation targeting Initially, the strategy has ...

  18. 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

  19. 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...

  20. 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, ...

  1. 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...

  2. Norges Bank Watch 2014: An Independent Evaluation of Monetary Policy in Norway

    OpenAIRE

    Mork, Knut Anton; Freixas, Xavier; Aamdal, Kyrre

    2014-01-01

    This report is based on careful considerations of Norges Bank’s policy decisions, Monetary Policy Reports (MPR), and other communication, during 2013. We have also benefitted from extensive discussions with representatives of Norges Bank, the Ministry of Finance, and the Financial Supervisory Authority (FSA, Finanstilsynet), as well as fellow economists in academia and financial institutions. Armed with this information, we have sought to evaluate Norges Bank’s actions and communication in vi...

  3. Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework

    OpenAIRE

    Eduardo J. J. Ganapolsky; Mario Catalan

    2005-01-01

    There is a widespread view that bank capital requirements should be loosened during recessions and tightened during expansions to avoid excessive credit and output swings. This view is based on a partial analysis that ignores the effects of capital requirement policies on the saving decisions of households, and, through this channel, on bank loans and output. We present an intertemporal general equilibrium framework that accounts for such effects and evaluate the optimal responses to loan sup...

  4. Banking biological collections: data warehousing, data mining, and data dilemmas in genomics and global health policy.

    Science.gov (United States)

    Blatt, R J R

    2000-01-01

    While DNA databases may offer the opportunity to (1) assess population-based prevalence of specific genes and variants, (2) simplify the search for molecular markers, (3) improve targeted drug discovery and development for disease management, (4) refine strategies for disease prevention, and (5) provide the data necessary for evidence-based decision-making, serious scientific and social questions remain. Whether samples are identified, coded, or anonymous, biological banking raises profound ethical and legal issues pertaining to access, informed consent, privacy and confidentiality of genomic information, civil liberties, patenting, and proprietary rights. This paper provides an overview of key policy issues and questions pertaining to biological banking, with a focus on developments in specimen collection, transnational distribution, and public health and academic-industry research alliances. It highlights the challenges posed by the commercialization of genomics, and proposes the need for harmonization of biological banking policies. PMID:11878344

  5. 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.

  6. 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...

  7. Armenia Demographic Change : Implications for Social Policy and Poverty

    OpenAIRE

    World Bank

    2011-01-01

    This note provides an overview of demographic changes and their policy implications in Armenia, with particular reference to the poor. Armenia is currently experiencing a significant aging of the population and decrease in the size of the population, these changes have far-reaching implications. The fertility rate in Armenia has fallen dramatically, from about 4.5 children per woman in the...

  8. 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...

  9. 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.

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

    OpenAIRE

    W/Michael Shibru; Hamdu Kedir Mohammed; Yonas Mekonnen

    2015-01-01

    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 th...

  11. The cross-country implications of alternative climate policies

    International Nuclear Information System (INIS)

    Because of worldwide growing concerns about global climate change, great interest has been expressed in the potential of alternative climate policies to reduce global carbon emissions. In this paper, we compare cross-country implications of alternative climate policies, including unilateral and multilateral climate policies. Our main findings are as follows. Firstly, there are large differences in cross-country effects of alternative unilateral climate policies, when the same given carbon emission reductions are achieved in each abating country respectively. Meanwhile, cross-border externalities undermine efficiency of unilateral climate policies. Secondly, there are significant differences in cross-country implications of alternative multilateral climate policies, when the same global emission reductions are allocated in several different ways among abating countries. Thirdly, it is difficult to reach a stable global climate treaty, since any abating country has the incentive to argue for small carbon emission reductions. Finally, multilateral climate policies can reduce the negative impacts of cross-border externalities, but cannot cure all cross-border externalities. Looking ahead, it will be a great policy challenge for the world to reduce carbon emissions in a cost-effective way. - highlights: • We compare impacts of unilateral climate policies across countries. • We compare effects of alternative multilateral climate policies. • We explore whether cross-border externalities disappear under multilateral climate policies

  12. 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...

  13. 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...... 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...... examined. 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...

  14. 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...

  15. Real Implications of Bursting Asset Price Bubbles in Economies with Bank Credit

    Czech Academy of Sciences Publication Activity Database

    Derviz, Alexis

    2011-01-01

    Roč. 61, č. 1 (2011), s. 92-116. ISSN 0015-1920 Institutional research plan: CEZ:AV0Z10750506 Keywords : bank * credit * asset price * bubble * macroprudential policy Subject RIV: AH - Economics Impact factor: 0.346, year: 2011

  16. 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...

  17. 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...

  18. 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...

  19. 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...

  20. 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)...

  1. 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

  2. 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...

  3. Working Paper 58 - The Contribution of African Development Bank to Economic Knowledge and Policy in Africa

    OpenAIRE

    AfDB AfDB

    2002-01-01

    While the African Development Bank Group strives to be the leading development financeinstitution in Africa, the link between research and development policy in an international financialintermediary is not always obvious. This paper expounds the logic of this crucial relationship andmakes the case for enhancing the role of the ADB as a knowledge and information center, providingsound intellectual leadership within the context of African development issues. The developmentprocess includes the...

  4. 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.

  5. Financial inclusion policy in Ecuador : roles of the Central Bank towards economic and job creation

    OpenAIRE

    Arias, Daniela

    2015-01-01

    The basic premise of this study is that promoting financial inclusion is one of the most effective ways in which a central bank can support economic growth and productive employment creation. The study shows that the scope of the government's financial inclusion programme in Ecuador is wide and varied. It then proceeds to encapsulate the main objectives of the financial inclusion policy and identify the main actors involved in its execution.

  6. 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.

  7. Protecting Financial Stability in the Aftermath of World War I: The Federal Reserve Bank of Atlanta's Dissenting Policy

    OpenAIRE

    White, Eugene N.

    2015-01-01

    During the 1920-1921 recession, the Federal Reserve Bank of Atlanta resisted the deflationary policy sanctioned by the Federal Reserve Board and pursued by other Reserve banks. By borrowing gold reserves from other Reserve banks, it facilitated a reallocation of liquidity to its district during the contraction. Viewing the collapse of the price of cotton, the dominant crop in the region, as a systemic shock to the Sixth District, the Atlanta Fed increased discounting and enabled capital infus...

  8. 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...

  9. 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...

  10. Tax Structure and Government Behavior: Implications for Tax Policy

    OpenAIRE

    Roger H. Gordon; Wilson, John D.

    1999-01-01

    Changes in tax policy can affect all aspects of the economy. Not only do firms and individuals change behavior, creating efficiency costs, but government expenditure choices can also change. Unless these expenditure choices had been optimal' previously, changes in response to a tax reform affect welfare and should be taken into account when designing tax policy. This paper develops a specific model of government behavior and then explores the implications of government, as well as private, be...

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

    DEFF Research Database (Denmark)

    Andersen, Simon Calmar; Thomsen, Mette Kjærgaard

    2011-01-01

    Immigrant students in Denmark on average perform worse in lower secondary school than native Danish students. Part of the effect may not stem from the immigrant students themselves, but from the student composition at the school. From a policy perspective, the latter aspect is quite interesting s......’ 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....

  12. 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

  13. "Effects of a bank consolidation promotion policy: Evaluating Bank Law in 1927 Japan" ;forthcoming in Financial History Review (Published in "Financial History Review", April 2007, v. 14, iss. 1, pp. 29-61. )

    OpenAIRE

    Tetsuji Okazaki; Michiru Sawada

    2006-01-01

    This paper investigates the impact of bank consolidations promoted by government policy, using data from pre-war Japan when the Ministry of Finance promoted bank consolidations by dint of the Bank Law of 1927. It is found that policy-promoted consolidation had a positive effect on deposit growth, especially in the period when the financial system was unstable. On the other hand, it had a negative effect on profitability, particularly when there was no dominant bank among the participants or w...

  14. 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.

  15. Policy Implications and Rrecommendations: Now What?

    OpenAIRE

    O' Neill, Brian; Staksrud, Elisabeth

    2012-01-01

    The EU Kids Online survey represents the most substantial knowledge base to date about young people’s online experiences in Europe. Chapters in this volume highlight findings that provide new kinds of evidence of significant interest for policy makers. They address questions which range from how to respond to the fact that the internet is now firmly in children’s lives; how to develop appropriate strategies for internet safety while responding to shifting patterns of access and use; how to ma...

  16. 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...

  17. 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.

  18. BASEL II IMPLEMENTATION IN THE CHINESE BANKING SYSTEM

    OpenAIRE

    Sun, Jun Hua

    2009-01-01

    This report reviews the implementation of Basel II, an international standard for banking regulations, in the Chinese banking system. In this report, I review the Basel Accords, including Basel I and Basel II, as well as conduct a detailed comparison and analysis of policy changes and their implications on international banking. Then, I summarize the evolution of the Chinese banking system with respect to its capital and the features of current Chinese banking system. Overall, the findings of...

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

    OpenAIRE

    Dumiter Florin; Brezeanu Petre; Radu Claudia; Turcas Florin

    2015-01-01

    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 a...

  20. 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

  1. Appraising the Implications of the SAT for Educational Policy.

    Science.gov (United States)

    Steelman, Lala Carr; Powell, Brian

    1985-01-01

    Differences in the corrected state rankings on Scholastic Aptitude Test (SAT) scores are explained by the percentage of students taking the test and by student composition by sex, race, and average family income. Higher state per capita educational expenditures are significantly related to higher average SAT scores. Policy implications are…

  2. 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...

  3. Risk Implications of Energy Policy Instruments

    DEFF Research Database (Denmark)

    Kitzing, Lena

    In many countries in Europe and the rest of the world, electricity systems are on the verge of a new era: they are transforming from begin CO2-intensive and centralised towards becoming sustainable and more integrated. The role of policy makers in this transition is evident: ambitious targets...... 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...

  4. 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...

  5. The impact of the bank-firm relations on the propagation of monetary policy squeezes: an empirical assessment for Italy

    OpenAIRE

    C. CONIGLIANI; Ferri, G.; A. GENERALE

    1997-01-01

    The work analyses the bank-firm relationship in Italy, in order to verify its impact on the behaviour of banks towards customers and the effects on the transmission of monetary policy impulses. The authors single out a sub-group of borrowers whose dependence upon banks seems to be particularly close and examine banks’ behaviour towards this subgroup vis-a-vis other groups of firms. The analysis differs from previous empirical research in that a wider sample of non-financial firms is used, a...

  6. Corporate Finance when Monetary Policy Tightens: How do Banks and Non-Banks Affect Access to Credit?

    OpenAIRE

    Mizen, Paul; Yalcin, Cihan

    2003-01-01

    The evolving financial environment facing the corporate sector provides many non-bank external finance options as an alternative to bank finance and this paper examines the relationship between UK firms' choices over bank versus non-bank finance under different monetary conditions. We look at the external finance 'mix' using a panel of 16,000 UK firm records taken from the FAME database for the years 1990 through 1999 taking into account firm-specific characteristics. The paper provides suppo...

  7. 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.

  8. 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

  9. 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.

  10. 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…

  11. Policy implications of the Strategic Defense Initiative

    International Nuclear Information System (INIS)

    Specific topics include: the technological feasibility of proposed components and architectures; the compatibility of the proposed systems with existing and proposed arms control agreements, with special emphasis upon the ABM Treaty, Outer Space Treaty, the Defense and Space Treaty, and the START Treaty; the compatibility of proposed systems with classical warfare doctrine and the four modern strategic nuclear doctrines of Massive Retaliation, Assured Destruction, Countervailing and Flexible Response; the economics of strategic defense including an assessment of overall governmental spending, of the suballocation for defense, and of the feasibility of defensive systems which are cost-effective at the margin; and, in summary, an assessment of the New Strategic Concept which balances arms control, offensive forces, and defensive forces. This study falls within the realm of defense policy analysis in that it attempts to determine whether the administration's proposed Strategic Defense Initiative, as well as the long-term strategic defensive systems derived from SDI research, constitute efficient, desirable allocation of scarce government resources - especially in a period of seemingly relaxed superpower tensions and numerous demands upon those resources

  12. 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

    The 2008 global financial crisis produced very different responses in Ireland and Denmark. While both countries embraced depositor guarantee schemes and recapitalization programmes, these were designed and adopted in significantly different ways. Crucially, the Irish state initially assumed full......) 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...... be attributed to the former, collaborative legacies decisively swayed policy responses in Denmark and Ireland in the hectic weeks of late September and early October 2008....

  13. 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

  14. Public banking of umbilical cord blood or storage in a private bank: testing social and ethical policy in northeastern Italy

    Directory of Open Access Journals (Sweden)

    Parco S

    2013-04-01

    determination method. We found that the chemiluminescence method was more specific (97.0% than the TPHA (83.0% and nontreponemal rapid plasma reagin VDRL (75.0% tests (P < 0.05, χ2 test. The specificity link between the two automatic methods versus microscopes for WBC dosing and NRBC interference was r2 = 0.08 (ADVIA 120 and r2 = 0.94 (XE-2100. The public system does not include human T-cell lymphotropic virus testing; this is reserved for the population from endemic zones. Conclusion: In northeastern Italy current legislation prevents the establishment of private fee-based banks for storage of CB-SC. The cryopreservation, for future autologous personal or family use, is possible only by sending to foreign private banks, with a further fee of €300. These regulations confirm that Italian legislation tries to increase the anonymous allogenic donations and the number of CB-CS bags stored in the free-cost public system, that are available to anyone with therapeutic needs. Private banking is used almost exclusively by the wealthier local population. In the public system, many physicians continue to use older Italian laws regarding syphilis diagnosis, and NRBC interference on WBC count may have an impact on cord blood harvesting. Our findings suggest that in the EU there is no consensus policy on donor management. The value of storage for potential use within the family is useful only with collaboration between the public and the private systems. Keywords: cord blood collection, public system, private system, pregnant women's choice

  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. 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 ...

  17. 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...

  18. 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...

  19. 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...

  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. Effects of Bank Consolidation Promotion Policy: Evaluating the Bank Law in 1927 Japan ( Revised as CARF-F-058 (2006); Published in "Financial History Review", April 2007, v. 14, iss. 1, pp. 29-61. )

    OpenAIRE

    Michiru Sawada; Tetsuji Okazaki

    2004-01-01

    This paper investigates the impact of bank consolidations promoted by government policy, using data from prewar Japan, when the financial authorities promoted them by dint of the Bank Law in 1927. It finds that the policy-promoted consolidation had a positive effect on the deposit growth, especially during the period of a major financial crisis. On the other hands, it had a negative effect on the profitability, particularly, in case there was no dominant bank among the participants or more th...

  2. 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

  3. THE IMPLICATIONS OF THE GLOBAL CRISIS ON THE FINANCIAL PERFORMANCES OF THE ROMANIAN BANKING SYSTEM

    Directory of Open Access Journals (Sweden)

    Ioan NISTOR

    2010-01-01

    Full Text Available The increase of financial crisis in 2008 helped to bring the recession in developed countries and the reduction of acceleration in the economies of emerging countries. Moreover, the degree of vulner-ability in emerging countries has increased through their dependence of external financing. Mutual potentiation of negative developments in financial markets and the real economy determinates a vola-tile environment, stressing the difficulties of forecasting the magnitude of the impact on short and medium term of the global crisis on macroeconomic developments in our country. Romanian banking sector is very affected, there are made changes of interest rate of monetary policy, of interest rates charged on loans and deposits, while the banks’ bad debts are increasing.The year 2009 brought with it the decrease in the financial performances of the credit institu-tions especially due to the constitution of provisions for the outstanding loans. The provisions exploded at the beginning of the year, conditions in which banks have recorded losses in January and February and, despite a slight recovery in March, first quarter results ware negative. On the other side the operational profits are still good so it depends on how each bank will be able to deal with the loans with problems in order to obtain a decrease in their provisions.The banking system from Romania should find rapid solutions in order to improve their financial results through to improving the banking indebtedness for the entities depending on credits and in this way it contributes to accelerate the process of businesses development through credits.

  4. 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.

  5. 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.

  6. 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.

  7. 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...

  8. Moving Monetary Policy Forward: Why Small Steps - and a Lower Inflation Target - Make Sense for the Bank of Canada

    OpenAIRE

    Angelo Melino

    2011-01-01

    The current monetary policy agreement between the Bank of Canada and the Department of Finance is set to expire at the end of 2011. Among the policy options under consideration is the adoption of either a lower inflation target or a switch to price-level targeting. The recent financial crisis provided a costly reminder that price stability does not necessarily guarantee financial stability, and the Bank’s post-2011 mandate might include a role for asset market stability. This Commentary offer...

  9. 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...

  10. 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...

  11. 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.

  12. 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

  13. Mobile Banking as Business Strategy: Impact of Mobile Technologies on Customer Behaviour and Its Implications for Banks

    OpenAIRE

    Tiwari, Rajnish; Buse, Stephan; Herstatt, Cornelius

    2006-01-01

    Mobile Commerce is gaining increasing acceptance amongst various sections of the society. This growth can be partly traced back to technological and demographical developments that have been influencing important aspects of the socio-cultural behaviour in today's world. The need/wish for mobility seems to be the driving force behind Mobile Commerce in general. Mobile Banking, availment of bank-related financial services via mobile devices, builds a cornerstone of Mobile Commerce. An empirical...

  14. 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

  15. 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...

  16. 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.

  17. 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.

  18. 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...

  19. Bank Bailouts, Competition, and the Disparate Effects for Borrower and Depositor Welfare

    OpenAIRE

    Calderon, Cesar; Schaeck, Klaus

    2013-01-01

    This paper investigates how government interventions into banking systems such as blanket guarantees, liquidity support, recapitalizations, and nationalizations affect banking competition. This debate is important because the pricing of banking products has implications for borrower and depositor welfare. Exploiting data for 124 countries that witnessed different policy responses to 41 ban...

  20. 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 ...

  1. Contagion Risk in the International Banking System and Implications for London As a Global Financial Center

    OpenAIRE

    Jorge A. Chan-Lau; Srobona Mitra; Li L. Ong

    2007-01-01

    In this paper, we use the extreme value theory (EVT) framework to analyze contagion risk across the international banking system. We test for the likelihood that an extreme shock affecting a major, systemic U.K. bank would also affect another large local or foreign counterpart, and vice-versa. Our results reveal several key trends among major global banks: contagion risk among banks exhibits "home bias"; individual banks are affected differently by idiosyncratic shocks to their major counterp...

  2. 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

  3. 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...

  4. 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.

  5. 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.

  6. Comparative Performance Analysis between Conventional and Islamic Banks in Bangladesh- An Application of Binary Logistic Regression

    Directory of Open Access Journals (Sweden)

    Abu Hanifa Md. Noman

    2015-07-01

    Full Text Available The study aims to answer the research question of what type of banks between Islamic and Conventional banks are doing well on bank level performance in Bangladesh? In order to answer the research question the study uses binary logistic regression. Using 223 observations of 23 convention banks and 7 Islamic banks of Bangladesh during 2003 to 2013, the study shows an existence of a significant difference between conventional and Islamic bank in Bangladesh on profitability, credit risk, capitalization and bank size. The investigation further finds that profitability, efficiency, liquidity and size of Islamic banks are lower than conventional banks in Bangladesh. However, the results confirm that Islamic banks have higher capitalization and better credit risk management than conventional banks in Bangladesh. The study incorporates some significant policy implications for Islamic banks.

  7. Monetary policy, risk-taking channel and income structure: an empirical assessment of the French banking system

    OpenAIRE

    Samer Eid

    2011-01-01

    According to some recent empirical papers, periods of low interest rates would favor a risk-taking channel of monetary policy whereby bank risk-appetite and risk-taking behavior would be stronger after. Several theoretical explanations exist to this phenomenon, such as the managerial compensation schemes linked to fixed objectives, the procyclical valuation methods of assets, income and cash flows, or the abundant liquidity at a low cost. This paper studies the risk behavior of the main Frenc...

  8. 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...

  9. 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.

  10. 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.

  11. 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.

  12. 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

  13. 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 ...

  14. 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 ...

  15. 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.

  16. 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 ...

  17. 76 FR 35959 - Capital Adequacy Guidelines; Small Bank Holding Company Policy Statement: Treatment of...

    Science.gov (United States)

    2011-06-21

    ... Board issued an interim final rule (CPP interim rule) (74 FR 26077) to allow bank holding companies that... Board published a final rule on the capital treatment of the Senior Perpetual Preferred Stock. See 74 FR... markets and the banking industry as a whole. \\7\\ See 12 CFR part 225, Appendix A, sections II.A.2. and...

  18. Monetary transmission and bank lending in the Netherlands

    OpenAIRE

    Kakes, Jan

    1998-01-01

    This paper investigates the role of bank lending in the monetary transmission process in the Netherlands. We observe significant differences between the responses of corporate and household lending following a monetary shock. We also find that banks hold a buffer stock of securities which they use to offset monetary shocks. The main implication of our study is that a bank lending channel is not likely to be an important transmission mechanism of monetary policy.

  19. 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...

  20. 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.

  1. 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.

  2. 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...

  3. 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.

  4. 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, ...

  5. 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

  6. Consumer satisfaction with M-banking in India: Influences and Implications.

    OpenAIRE

    Rahman, Hamidur

    2015-01-01

    The growth of M-banking and its widespread use has drawn an increasing amount of attention from financial institutions and other banking service providers dedicated to expansion of market share and establishing a better relationship with their consumers. Research has been mostly focused on consumer’s behaviour of m-banking adoption while existing users satisfaction evaluation has been rather limited. Therefore, this research seeks to identify the level of satisfaction amongst existing M-banki...

  7. 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…

  8. 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.

  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. 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.

  11. 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

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

    Directory of Open Access Journals (Sweden)

    Mo'taz Amin Al-Sa'eed

    2012-02-01

    Full Text Available 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, a postal questionnaire was sent to all of the riskmanagers and internal audit managers operating in the Jordanian Banks. The research results show that ourrespondents have good level of education and experience, a multiple regression test was carried out to test therelationship between the independent variables: Commitment to Corporate Governance, Functions of the Boardof Directors, Board Committees, Control Environment, and Transparency and Disclosure codes, and thedependent variable: Reduction of the global financial crisis implications.; independent variables are able toexplain nearly 77% (R=0.765 P< 0.000 of the variance in Reduction of the global financial crisis implications,also it was found that calculated F = 32.675 is significant at 0.05 which means that there is an effect ofindependent variables on dependent variable. This indicates that there is a significant positive relationshipbetween independent variables and (dependent variable. Thus, we reject the null hypotheses that assumed thereis no significant role of independent variables. Meanwhile the coefficients factors and (T value at 0.05 level ofsignificant support this suggestion when taking the independent variable jointly, By using the Stepwise analysis,the study has found that the most independent variable which plays the effective role on the reduction of theglobal financial crisis implications was the Transparency and Disclosure Pillars with (R = 0.657. The study hasfound that the economy

  13. 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...

  14. 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

  15. 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

  16. EU RURAL DEVELOPMENT POLICY IN THE NEW PROGRAMMING PERIOD: CHALLENGES AHEAD AND IMPLICATIONS FOR ACCEEDING COUNTRIES

    Directory of Open Access Journals (Sweden)

    Luka Juvančič

    2007-11-01

    Full Text Available Paper discusses about the main changes of the EU Rural Development policy and highlights the open issues that refer to its financing and implementation in the period 2007-2013. The paper presents the implications of the recent EU enlargement for implementation of rural development policy in countries aspiring for EU membership.

  17. Norges Bank Watch 2015: An Independent Evaluation of Monetary Policy in Norway

    OpenAIRE

    Aamdal, Kyrre; Lommerud, Kjell Erik

    2015-01-01

    In 2014, like the year before, Norges Bank’s Executive Board held six monetary policy meetings where it decided key policy interest rates. The policy rate was changed in December only, but interest rate forecasts were changed considerably over the meetings. Our report is organized as follows. In chapter 3 we give a brief description of some key economic variables that are important for the monetary policy decisions. In chapter 4 we describe each meeting in more detail and evaluate the Boar...

  18. ROMANIAN BANKS LIQUIDITY MANAGEMENT

    Directory of Open Access Journals (Sweden)

    BATRANCEA MARIA

    2013-07-01

    Full Text Available Most transactions or financial commitments have implications for a bank liquidity. Transactions are particularly vulnerable to liquidity problems at a specific institution. Therefore, one can deduce the importance of the correct calculation and liquidity indicator, not only for the bank concerned, but especially for NBR uses that bank risk management tool. That is why the authors took into consideration a sample of banks in Romania to show to what extent the banking crisis has influenced the development banks.

  19. 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.

  20. 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...

  1. 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

  2. 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.

  3. 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

  4. Rural Poverty in Developing Countries; Implications for Public Policy

    OpenAIRE

    Mahmood Hasan Khan

    2001-01-01

    Reviews causes of poverty in rural areas and presents a policy framework for reducing rural poverty, including through land reform, public works programs, access to credit, physical and social infrastructure, subsidies, and transfer of technology. Identifies key elements for drafting a policy to reduce rural poverty.

  5. NATIONAL BANK OF ROMANIA MONETARY POLICY TRANSMISSION MECHANISM DURING THE CRISIS

    Directory of Open Access Journals (Sweden)

    DIACONESCU DIANA RALUCA

    2015-04-01

    Full Text Available Before the crisis, investments and foreign capital were injected in the Romanian economy. External financing has led to the emergence of a trend in the reduction of interest rates on credits and deposits and average interbank rate. In Romania, the international financial crisis hasn’t led to interbank financial market deformation, as happened in the case of many developed countries, but it has influenced the independent/autonomous liquidity volume and the structure of net liquidity offer. The most important consequence of the crisis in Romania was the reduction in capital inflows. This decreased the net liquidity of the banks and has created a lower demand for liquidity. Some Central Banks have acted in this regard, through the refill of existing liquidity deficit, equal to the difference between the demand for liquidity and net component. Other Banks that failed to cover the liquidity needs of their customers have borrowed from banks with liquidity surplus. This situation has been exploited by latter through the steep increase of interest rates.

  6. Perfecting the market's knowledge of monetary policy

    OpenAIRE

    William Poole; Rasche, Robert H.

    2000-01-01

    The rational expectations revolution made clear that a complete macro model requires a specification of the government's economic policy. We argue that monetary policy should be conducted in such a way that the market can predict policy actions. An implication of market success in predicting policy actions is that interest rates move ahead of the policy actions, and such a timing relationship may appear to some as the central bank following the market instead of leading it. Another implicatio...

  7. The Definition of Inflation According to Mises: Implications for the Debate on Free Banking

    Directory of Open Access Journals (Sweden)

    Nicolás Cachanosky

    Full Text Available The discussion of what is and what is not inflation has become central among the Austrian economists in their debate between free banking with fractional reserves versus banking with 100-percent reserve. Many Austrians also turn to the writings of Mises to find out what the dean of Austrian Economics thought about inflation, but there is no agreement on the interpretation of his writings either. This article tries to contribute to the interpretation of Mises’ concept of inflation.

  8. Bank regulation implications for managing accounting quality risk: a Basel and IFRS perspective

    OpenAIRE

    Baddevithana, Tanuja Dulmini Dominick Mahinda

    2012-01-01

    This thesis examines whether accounting quality, measured as the difference between accounting and market price change, had an impact on the five primary UK banks that adopted IASB’s IFRS accounting standards in 2005. The findings reveal that the changes in accounting standards resulted in the banks experiencing decreased levels of accounting quality and increased levels of exposure to financial distress risk in the period 2005 to 2008, compared to the pre-adoption period of 1992 to 2004....

  9. Long run implications of «substantially heightened» bank capital requirements

    OpenAIRE

    Vincenzo Chiorazzo; Pierluigi Morelli; Giovanni Battista Pittaluga

    2013-01-01

    This paper contributes to the literature on the effects of changes in bank capital requirements in three ways: first, introducing the notion of (capital ratio) stabilizing Return on Assets; second, by estimating an econometric model for a sample of Italian banks over the period 2007-2012, it shows that the Modigliani-Miller theorem does not fully hold, underlining that increased capital requirements do tend to raise the weighted average cost of capital; third, it shows that, in the long run, ...

  10. 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…

  11. 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

  12. Biomass production and utilisation. Policy implications for LDCs

    International Nuclear Information System (INIS)

    The importance of biomass in the energy sector of LDCs and in Africa in particular is illustrated so as to provide the background to the policy importance on the production and use of this energy source. The main areas for policy attention discussed are: biomass for power generation, biomass use in the transport sector, urban energy supply and the interactions with agricultural policies. The roles of the major institutions the government, private sector institutions, educational institutions and non-governmental organizations are identified. It is concluded that with the necessary policy shift that is being advocated, biomass can contribute to a more equitable supply of high quality and efficient energy services in the future of African countries. (K.A.)

  13. Obesity as a Disease: Current Policies and Implications for the Future.

    Science.gov (United States)

    Kahan, Scott; Zvenyach, Tracy

    2016-06-01

    The recognition of obesity as a chronic disease is increasing. However, there is variable acknowledgment of it as a disease in health policies across the USA. The objective of this review is to describe how obesity meets the definition of a disease, explain its interpretation in current health policies, and explore implications for obesity in future health policy adoption and development. Perspectives are presented from scientific evidence, clinical practice, and health policy areas including Medicare, Medicaid, the Affordable Care Act, federal government agency guidance, and healthcare quality. PMID:27099165

  14. Social Organization in Bars: Implications for Tobacco Control Policy

    OpenAIRE

    Lee, Juliet P.; Antin, Tamar M.J.; Roland S. Moore

    2008-01-01

    This paper considers social roles and relationships of the patrons, staff and owners of bars as critical factors determining adherence to public health policies, and specifically California’s smokefree workplace law. Specific elements of social organization in bars affecting health policy include the community within which the bar is set, the unique identity the bar creates, the bar staff and patrons who enact this identity, and their bar society. These elements were found to contribute to th...

  15. 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...

  16. 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.

  17. 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...

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

    OpenAIRE

    Ferreiro Jesús; Gálvez Catalina; Gómez Carmen; González Ana

    2016-01-01

    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 betwe...

  19. 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.

  20. 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.

  1. 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...

  2. 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

  3. The performance implications of relationship banking during macroeconomic expansion and contraction: a study of Japanese banks' social relationships and overseas expansion

    OpenAIRE

    William P Wan; Daphne W Yiu; Hoskisson, Robert E.; Heechun Kim

    2008-01-01

    We propose a social perspective emphasizing the opportunities and constraints of bank–firm relationships to understand the determinants of relationship banks' performance, using Japanese banks to test our theory. Using social exchange and role theories, we found banks that have strong social relationships performed differently during Japan's macroeconomic expansion and contraction cycles. However, our results indicate that social exchange and role relationships are context-specific: banks ben...

  4. 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)

  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. Public policy, participation and the third position: the implication of engaging communities on their own terms.

    Science.gov (United States)

    Bishop, Brian J; Vicary, David A; Browne, Alison L; Guard, Neil

    2009-03-01

    Policy development and implementation should be fundamental for community psychologists in their endeavors to create social change. Policy necessarily is engaged at broad social and political levels, but it is mediated through communities and individuals, and thus appealing for our discipline. We argue that there are increasing opportunities for social input in liberal democracies with the growing awareness of the need to consider social factors in policy. Public participation is one aspect of policy development, but it can be problematic and can disempowered communities, especially disadvantaged communities. Using the framework of the 'third position', a case study of attempts to ameliorate institutional oppression of Australian Aboriginal people through policy change is described. Structural reform to community engagement is described in terms of empowerment and capacity building. Power relationships are deconstructed to allow understandings of the dynamics of policy change, and the broader implications for community psychological praxis are discussed. PMID:19184410

  9. 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...

  10. 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...

  11. Bioavailability: implications for science/cleanup policy; FINAL

    International Nuclear Information System (INIS)

    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

  12. DNA banking and DNA databanking: Legal, ethical, and public policy issues

    Energy Technology Data Exchange (ETDEWEB)

    Reilly, P.R.; McEwen, J.E.; Lawyer, J.D.; Small, D.

    1997-04-30

    The purpose of this research was to provide support to enable the authors to: (1) perform legal and empirical research and critically analyze DNA banking and DNA databanking as those activities are conducted by state forensic laboratories, the military, academic researchers, and commercial enterprises; and (2) develop a broadcast quality educational videotape for viewing by the general public about DNA technology and the privacy and related issues that it raises. The grant thus had both a research and analysis component and a public education component. This report outlines the work completed under the project.

  13. 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...

  14. 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.

  15. Consumer Preferences for Fair Trade Foods: Implications for Trade Policy

    OpenAIRE

    Matthew C. Rousu; Jay R. Corrigan

    2008-01-01

    Policymakers are considering including stricter standards in international trade agreements. Using auctions to assess preferences, we find that the median consumer places no premium on fair trade foods produced under more stringent labor and environmental standards. This indicates that current trade policies may be preferable to U.S. consumers.

  16. Social Harmony in Hong Kong: Level, Determinants and Policy Implications

    Science.gov (United States)

    Ho, Simon S. M.; Chan, Raymond S. Y.

    2009-01-01

    This study aims at ascertaining how Hong Kong people perceive Hong Kong as a harmonious society. It also identifies the elements that are most conducive to social harmony in Hong Kong, so that the government could take reference when formulating new policies. 1,062 adults residents were asked to rate their perceived level of social harmony and…

  17. 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.

  18. 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.

  19. Practices and Policies of Clinical Exome Sequencing Providers: Analysis and Implications

    OpenAIRE

    Jamal, Seema M.; Yu, Joon-Ho; Chong, Jessica X.; Dent., Karin M.; Conta, Jessie H.; Tabor, Holly K.; Bamshad, Michael J.

    2013-01-01

    Exome and whole genome sequencing (ES/WGS) offer potential advantages over traditional approaches to diagnostic genetic testing. Consequently, use of ES/WGS in clinical settings is rapidly becoming commonplace. Yet there are myriad moral, ethical, and perhaps legal implications attached to the use of ES and health care professionals and institutions will need to consider these implications in the context of the varied practices and policies of ES service providers. We developed “core elements...

  20. 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...

  1. 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

  2. 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...

  3. Impact of the Built Environment on Mental and Sexual Health: Policy Implications and Recommendations

    OpenAIRE

    LeConté J. Dill; Martha Okafor; David Satcher

    2012-01-01

    Research related to the intersection of the built environment and health has particularly flourished in the last decade. The authors highlight the theoretical and policy insights that have been made while also noting paucity in this literature as specifically related to mental and sexual health. Overall, the authors discuss policy implications of aspects of the built environment on both mental and sexual health behaviors and outcomes and suggest avenues for future research, program implementa...

  4. 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...

  5. Norges Bank Watch 2008

    OpenAIRE

    Juel, Steinar; Molnar, Krisztina Molnar; Røed, Knut

    2008-01-01

    Norges Bank has gone a long way in being open about its decisions and it is one of the most transparent central banks; this report makes a few recommendations about further improving the bank in this respect. Since Norges Bank already has a history of many years of transparency about its decisions and the principles used to make these decisions, it is possible to make a retrospective analysis and evaluate the bank. We think that evaluating and discussing the monetary policy of ...

  6. Outsourcing central banking

    OpenAIRE

    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 supervision can be "outsourced" in an open economy with substantial foreign direct investment (FDI) in the banking sector if political nationalism does not trump economic rationality. An orthodox CB renders the central banking function redundant in terms of interest rate and exchange rate determination. FDI in banking could...

  7. 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

  8. 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

  9. 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...

  10. 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

  11. The Fate of Failed Bank Material and Implications for Lateral Retreat: Lake Tahoe Basin

    Science.gov (United States)

    Simon, A.; Thomas, R. E.

    2009-12-01

    The ability to deterministically predict the critical conditions for streambank failure in alluvial materials has improved markedly in recent years. Analytic tools such as the Bank-Stability and Toe-Erosion Model (BSTEM) account for a broad range of controlling processes and factors including hydraulic erosion of the bank toe, positive and negative pore-water pressures, layers of varying geotechnical resistance and root reinforcement. When failure is predicted, the failed mass is assumed to be transported away from the section by the flow, either as a single mass or as dispersed aggregates. Field observations indicate, however, that in cases where cohesive strength is high, either due to the effective cohesion of the soil skeleton or due to dense mats of fine roots, the failed block comes to rest in the vicinity of the bank toe. In this case, the resistance of the bank-toe region to hydraulic scour may be increased markedly and resistance to geotechnical failure may also be increased by buttressing. Conversely, deposition of blocks at bank toes may cause flow acceleration and scour landward of the block, resulting in further undercutting of the bank mass. Failure to account for these processes can lead to errors in predicting of rates of failure frequency, lateral retreat and streambank loadings.Once deposited at the bank toe, failed blocks can be eroded by hydraulic forces either as a mass and/or by erosion of aggregates comprising the block. Field research on the nature of hydraulic resistance and block erosion has been conducted along selected reaches of the Upper Truckee River (UTR) and Trout Creek, Lake Tahoe Basin, California. Block materials are generally characterized by lower apparent cohesive strength than their in situ counterparts due to the lower values of matric suction owing to their proximity to the water surface. Still, submerged jet-test device conducted in root-permeated blocks show critical shear stresses one to two orders of magnitude greater

  12. Central Bank Independence and Inflation Targeting: Monetary Policy Framework for Sub-saharan Africa

    Directory of Open Access Journals (Sweden)

    Oyedokun Agbeja

    2007-01-01

    Full Text Available Open system-holistic family view of the macroeconomic sector sees collaborations and policy coordination between the monetary and fiscal subsystems fundamental and inalienable in the holistic family-macroeconomic sector. Full independence (isolation of the monetary subsystem from the fiscal subsystem is outlandish. The optimal point of independence shifts each time the system adapts to environmental factors but continues to lie between zero and full independence in the continuum of independence. This holistic view best describes the behaviour of modern macroeconomic sector in an ever increasingly globalized-digitalized economy. Sub-Saharan Africa can also inflation target by suitably embracing the prescribed monetary policy framework.

  13. 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 ...

  14. 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...

  15. 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...

  16. Explaining Rice Price Shocks in Nigeria: Implications for Policy Intervention

    OpenAIRE

    Awoyemi, Taiwo Timothy

    2009-01-01

    At the microeconomic level, in predominantly agrarian society of Nigeria where majority of the farmers are poor and unable to obtain insurance, price and production shocks would have adverse impact on growth and development. Particularly, there is a growing concern that current levels of rice production will not meet future demand. The general objective of the paper is to examine the key factors influencing rice price variability, and how to address these effects in policy terms. Time series ...

  17. IMPLICATIONS OF POLICY REGULATIONS ON LAND APPLICATIONS OF POULTRY LITTER

    OpenAIRE

    Govindasamy, Ramu; Cochran, Mark J.

    1998-01-01

    The growth of the poultry industry in Arkansas has exploded in the past decade. As a result, approximately 1.5 million tons of litter are produced every year. Concerns about possible contamination of ground and surface water from land applications of poultry litter have been raised. This paper compares four policy scenarios in terms of their efficiency and practicality to manage land applications of poultry litter. The results indicate that a litter tax per ton of litter applied could achieve...

  18. Rural-Urban Migration and Unemployment: Theory and Policy Implications

    OpenAIRE

    Zenou, Yves

    2010-01-01

    We develop a regional model where, in the city, unemployment prevails because of too high (efficiency) wages, while, in the rural area, workers are paid at their marginal productivity. We characterize the steady-state equilibrium and show that it is unique. We then consider two policies: decreasing urban unemployment benefits and subsidizing urban employment. We find that decreasing the unemployment benefit in the city creates urban jobs and reduces rural-urban migration since new migrants ha...

  19. 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...

  20. 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.

  1. Policy implications of changes in water availability in Europe

    Science.gov (United States)

    Garrote, Luis; Iglesias, Ana; Sordo-Ward, Álvaro; Granados, Alfredo; Santillan, David

    2015-04-01

    The likely alteration of the hydrologic cycle due to climate change will modify water supply conditions in many regions. Water policy will have to face serious environmental and economic problems due to limited water availability in many regions across Europe and the range of adaptive measures needs to be evaluated. This contribution presents a comparative study of risks of water scarcity across European regions under a range of water policy options. The study was carried out within the BASE European project. The BASE (Bottom-Up climate adaptation strategies towards sustainable Europe) project "supports action for sustainable climate change adaptation in Europe by making experiences and scientific information about adaptation meaningful, transferable and easily accessible to decision-makers at all levels"(http://base-adaptation.eu/). The study is based on a regional assessment of current and future water availability in Europe under different assumptions. The assessment was made using the WAAPA model. The model was built from the river network inferred from the Hydro1K digital elevation maps. Storage volume for regulation was taken from the World Register of Dams of the International Commission on Large Dams. Hydrologic scenarios were taken from the Inter-Sectoral Impact Model Intercomparison Project (ISIMIP), where the forcing from five global climate models under the Representative Concentration Pathways scenarios was applied to several hydrologic models. The estimation of water availability was performed by determining the maximum amount of water that can be supplied at any point of the river network satisfying a minimum reliability requirement. Water availability is the combined result of natural processes, which are conditioned by greenhouse gas emissions, and policy, which determines the available hydraulic infrastructure to manage water and establishes water supply conditions. Policy scenarios were devised by identifying several water management practices in

  2. 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…

  3. 12 CFR 1261.11 - Conflict-of-interests policy for Bank directors.

    Science.gov (United States)

    2010-01-01

    ... of or against any member; (2) Require independent directors to comply with § 1261.10(a); (3) Prohibit the use of a director's official position for personal gain; (4) Require directors to disclose actual... monitor compliance with the conflict-of-interests policy. (b) Disclosure and recusal. A director...

  4. Voting record and monetary policy predictability: evidence on six central banks

    Czech Academy of Sciences Publication Activity Database

    Horváth, R.; Šmídková, K.; Zápal, Jan

    Cambridge : MIT Press, 2013 - (Siklos, P.; Sturm, J.), s. 251-271 ISBN 978-0-262-01893-7. [CESifo Venice Summer Institute 2010. Venice (IT), 19.07.2010-24.07.2010] Institutional support: PRVOUK-P23 Keywords : decision making * business communication * monetary policy Subject RIV: AH - Economics

  5. 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...

  6. 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

  7. 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

  8. 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.

  9. 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.

  10. 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.…

  11. 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.

  12. Mass Media Public Policy Implications of the Political Economy of Rawls and Nozick.

    Science.gov (United States)

    Nielsen, Richard P.

    The political economic ideas of philosophers John Rawls and Robert Nozick are compared in this paper, and their implications for mass media public policy are explored. The paper first examines the position of each philosopher, noting the major principles set forth in their works, historical antecedents for their ideas, and possible applications to…

  13. INCENTIVE-BASED POLICIES FOR CONSERVATION TECHNOLOGY ADOPTION: IMPLICATIONS FOR POLLUTION AND OUTPUT

    OpenAIRE

    Khanna, Madhu; Isik, Murat; Zilberman, David

    2000-01-01

    The cost-effectiveness of alternative green payment policies designed to achieve a targeted level of abatement by heterogeneous microunits is analyzed. Abatement costs and implications for production and government payments are compared using a simulation model for controlling drainage from cotton production in California with drip irrigation as a conservation technology.

  14. RUSSIAN YOUTH POLICY AND ITS IMPLICATIONS FOR THE SOUTHERN CAUCASUS

    OpenAIRE

    Blum, Douglas

    2006-01-01

    Since the fall of the U.S.S.R., Russia—like the other former Soviet republics—has been involved in the twin process of nation-building and state-building. One focus of this work is the socialization of young people, something that has become all the more urgent in the aftermath of the Colored Revolutions. Russian youth policy thus represents part of a larger attempt to anchor state and society within a sound institutional framework, which, under Putin, is marked by a typical mixture of delega...

  15. 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 ...

  16. Insolvency costs and incomplete information in commercial banks: Implications for financial reform in Eastern Europe

    OpenAIRE

    Buch, Claudia M

    1994-01-01

    The development of financial markets in the emerging market economies of Eastern Europe is considered one of the crucial elements of the overall reform process. Under central planning, banks used to be passive recipients of orders from the planners; they did not engage in any credit screening activity. At the same time, financial intermediaries have the potential to assume an important role in the transformation process from plan to market. They could gather information on enterprises, sort o...

  17. 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.

  18. Costs and benefits of children: implications for population policy.

    Science.gov (United States)

    Robey, B

    1989-03-01

    Family size preferences are strongly affected by parents' perceptions of the value, economic contributions, and costs of children. Better understanding of these factors can help policy-makers to improve the effectiveness of population IEC campaigns, design strategies to persuade couples to have smaller families, assess the relationship between economic development and family size preferences, and devise national population policies and family planning programs that reflect individual choices. Parents in high-fertility countries are more likely to perceive children as productive investments than those in low-fertility countries. Parents in the former countries maintain children are an economic advantage or provide practical assistance in the household; they are less likely to emphasize the psychological advantages of children. As economic development occurs, and parents no longer value children for their economic contributions, psychological and social reasons become more important. Changing fertility preferences is more complex than providing couples with family planning services. Similarly, efforts to persuade families that large families are a burden are successful only when families are already interested in reducing their family size. Efforts to persuade couples to have smaller families are likely to be more successful if there are alternative sources of old-age support available, for example, from increased household savings, public or private pensions, or greater contributions from 1st and 2nd children. Investments in education and training, especially for women and children, would also support these goals. PMID:12315609

  19. Household energy consumption in West Sumatra. Implications for policy makers

    Energy Technology Data Exchange (ETDEWEB)

    Down, S.

    1983-11-01

    The results of a field survey on domestic energy consumption in West Sumatra are discussed within the context of Indonesian energy policy, particularly with regard to the problem of domestic kerosene subsidiation. Many energy planners believe that the heavy subsidies on kerosene are necessary to prevent deforestation and protect the poor. Inequalities in fuel consumption for different sectors of the population may vary for different uses. In formulating policies aimed at reducing inequalities it is helpful to consider the end uses of the fuels separately. Energy use in cooking and lighting and the villagers' attitudes towards different fuels are investigated to see what effect a removal of the kerosene subsidies would have. In the case of lighting, a removal or reduction in the subsidies would primarily affect the lowest income sector of the population, unless a system of loans or subsidies is established for the initial installation charges of electricity. For cooking the higher income group would primarily be affected, and reducing the subsidies would not cause considerable hardship to the villagers or adverse environmental effects as there are considerable underutilized forest resources in the region. However, unless suitable alternatives to kerosene are made available at reasonable prices, the villagers now using kerosene would consider it a retrogressive step in their standard of living to return to the use of smoky and inconvenient open wood fires.

  20. Central Bank Independence and Inflation Targeting: Monetary Policy Framework for Sub-saharan Africa

    OpenAIRE

    Oyedokun Agbeja

    2007-01-01

    Open system-holistic family view of the macroeconomic sector sees collaborations and policy coordination between the monetary and fiscal subsystems fundamental and inalienable in the holistic family-macroeconomic sector. Full independence (isolation) of the monetary subsystem from the fiscal subsystem is outlandish. The optimal point of independence shifts each time the system adapts to environmental factors but continues to lie between zero and full independence in the continuum of independe...

  1. 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...

  2. 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.

  3. 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。

  4. 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.

  5. Marshall-Lerner conditions and their policy implications

    Directory of Open Access Journals (Sweden)

    Madžar Ljubomir

    2006-01-01

    Full Text Available Marshall-Lerner conditions are firstly derived on the basis of alternatively defined elasticities: elasticities of domestic demand for imports and domestic supply of exports and, next, four elasticities consisting of the above mentioned coefficients and, in addition to them, elasticities of foreign supply of imports to and foreign demand for exports of the observed country. All these coefficients are specified with respect to the alternatively defined exchange rates: as the number of the domestic currency units for a unit of conveniently chosen foreign currency, and vice versa. The above stated combinations of elasticities are, again alternatively related to the nominal and to the real exchange rates. Mathematical interdependencies among thus formulated stability conditions are examined to some detail. The results are applied to the current policy dilemmas at to whether devaluation would significantly affect balance of payments and what would be its effects on the inflation rate.

  6. 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

  7. Consumer preference not to choose: Methodological and policy implications

    International Nuclear Information System (INIS)

    Residential consumers remain reluctant to choose new electricity suppliers. Even the most successful jurisdictions, four US states and other countries, have had to adopt extensive consumer education procedures that serve largely to confirm that choosing electricity suppliers is daunting. Electricity is not unique in this respect; numerous studies find that consumers are generally reluctant to switch brands, even when they are well-informed about product characteristics. If consumers prefer not to choose, opening regulated markets can reduce welfare, even for some consumers who do switch, as the incumbent can exploit this preference by raising price above the formerly regulated level. Policies to open markets might be successful even if limited to industrial and commercial customers, with residential prices based on those in nominally competitive wholesale markets

  8. 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.

  9. The learning potential of photovoltaics: implications for energy policy

    International Nuclear Information System (INIS)

    This article examines the prospects for cost reductions of flat panel photovoltaic (PV) electricity. Current PV production cost ranges are presented, in terms of cost per peak W and cost per kWh, for single crystalline and multi-crystalline silicon, as well as for thin-film technologies. Possible decreases of these costs are assessed, as expected based on learning curves. The cumulative production needed to reach 'breakeven' (at which PV is competitive with conventional alternatives) is estimated for a range of values of the learning curve parameter. The cost of this cumulative production is calculated, and the question is posed whether and how the 'cost cap' can be bridged, the latter being the difference between what this cumulative production will cost and what it would cost if it could be produced at a currently competitive level. We also estimate how much PV could gain if external costs (due to environmental and health damage) of energy were internalised, for example by an energy tax. The conclusions are: (1) mainly due its high costs, PV electricity is unlikely to play a major role in global energy supply and carbon emissions abatement before 2020, (2) extrapolating past learning curves, one can expect its costs to decrease significantly, so that a considerable PV electricity share world-wide could materialise after 2020, (3) niche-market applications, e.g. using stand-alone systems in remote areas, are crucial for continuing 'the ride along the learning curve', (4) damage costs of conventional (fossil) power sources are considerable, and they could provide an important part of the rationale behind major policy efforts to encourage increased use of PV. The costs involved with such policies would be elevated, but a considerable share of these costs could be justified by the fact that conventional power damage costs constitute a significant fraction of the cost gap, although probably not enough to close it

  10. 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.

  11. Polymer bank notes

    OpenAIRE

    Brian Lang; John Barry

    1999-01-01

    On 3 May 1999 the Bank issued a new $20 bank note into circulation that had been printed on a polymer substrate. This article traces the history of polymer, briefly describes the process of production, and highlights the benefits of the substrate and the implications for the future of bank note handling within the country.

  12. 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

  13. 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

  14. 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.

  15. 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...

  16. 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%

  17. Blood donor behaviour in Greece: implications for health policy.

    Science.gov (United States)

    Chliaoutakis, J; Trakas, D J; Socrataki, F; Lemonidou, C; Papaioannou, D

    1994-05-01

    Blood donation behaviour was studied in 809 residents of the Greater Athens area to identify socio-economic and attitudinal factors and level of knowledge about blood donation related to donor behaviour. The sample was randomly selected and consisted of men and women aged 18-65, the legally defined age for donation. According to stepwise regression analysis, blood donation (40.8% of the study population) was found to be correlated with gender, place of birth, occupation and knowledge about donation. Donors were more likely to be men than women; students and military recruits than professionals and scientists; and those with higher knowledge scores regarding donation. In our factor analysis of the social attitudes related to blood donation, three factors emerged as important regarding donation: health-related incentives for the donor, structural incentives (organization of blood donation education and management of facilities) and the creation of social and economic incentives. With respect to the affective measures those who expressed feelings of guilt when presented with hypothetical, emotionally charged situations dramatizing the need for donor blood were more likely to be donors. The results of the data are discussed within a larger socio-cultural context and suggestions for health policy are made. PMID:8023195

  18. The Ethical Stance in Banking

    OpenAIRE

    Villa, Jesus Simeon Villa

    2010-01-01

    Abstract Banks have a central role and importance in all commerce and hence in all societies. This thesis investigates the ethical basis of banking practice with the aim of developing an account of the virtues appropriate to bankers and banking. One central issue concerns a conflict between the interests of banks and their customers, and how this conflict plays out in relation to the lending policies and fee structure of banks. Such lending policies can have a significant effect on ban...

  19. 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

  20. 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 politica...

  1. Geologic Carbon Sequestration: Leakage Potential and Policy Implications

    Science.gov (United States)

    Bielicki, J. M.; Peters, C. A.; Fitts, J. P.; Wilson, E. J.

    2014-12-01

    The geologic reservoirs that could be used for long-term sequestration of carbon dioxide (CO2) may have natural or manmade pathways that allow injected CO2, or the brine it displaces, to leak into overlying formations. Using a basin-scale leakage estimation model, we investigated the geophysical parameters that govern this leakage, and the resulting accumulations of leaked fluids in overlying formations. The results are discussed in the context of two polices aimed at governing long-term sequestration and protecting groundwater: the U.S. DOE guideline for storage permanence and the U.S. EPA UIC Program Class VI Rule. For a case study of CO2 injection into the Mt. Simon sandstone in the Michigan sedimentary basin, we showed that (1) the U.S. DOE guideline would allow for more leakage from larger injection projects than for smaller ones; (2) leakage amounts are determined mostly by well leakage permeability rather than by variation in formation permeabilities; (3) numerous leaking wells with anomalously high leakage permeabilities are necessary in order to achieve substantial leakage rates; (4) leakage can reach potable groundwater but intervening stratigraphic traps reduce the amount to be multiple orders of magnitude less than the leakage out of the reservoir, and (5) this leakage can reduce the Area of Review that is defined by the U.S. EPA as the area within which leakage can threaten groundwater. In summary, leakage that exceeds the U.S. DOE storage permanence goal would occur only under extreme conditions, the amount that reaches shallow potable groundwater may be inconsequential from a pollution standpoint, and leakage may be beneficial. Future federal policies should be harmonized to achieve the dual goals of protecting groundwater while allowing for adaptive management that incorporates uncertainties and imperfections inherent in geologic reservoirs.

  2. 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.

  3. 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.

  4. 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...

  5. Central Banking after the Crisis

    OpenAIRE

    Frederick S. Mishkin

    2013-01-01

    This paper explores where central banking is heading after the recent financial crisis. First it discusses the central bank consensus before the crisis and then outlines the key facts learned from the crisis that require changes in the way central banks conduct their business. Finally, it discusses four main areas in which central banks are altering their policy frameworks: 1) the interaction between monetary and financial stability policies, 2) nonconventional monetary policy, 3) risk manage...

  6. 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.

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

    OpenAIRE

    Aremo, A.G.; Orisadare, M.A.; Ekperiware, C.M

    2013-01-01

    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 f...

  8. 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.

  9. 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

  10. 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.

  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. The Asian Development Bank Loan for Kerala (India): The Adverse Implications and Search for Alternatives

    OpenAIRE

    K. Ravi Raman

    2010-01-01

    The privileging of internal resources over external finance is not only the most democratic but also the most politically desirable option. The implications of the ADB loan for Kerala is situated against this premise by employing an empirical political economy method. The paper is divided into five sections. In section 1, along with the structure of the loan, the current status of state finance is briefly outlined. Section 11 explores two hypotheses: the Resource Mobilisation Crisis Hypothesi...

  13. 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...

  14. 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, ...

  15. Alcohol consumption and burden of disease in the Americas: implications for alcohol policy

    OpenAIRE

    Rehm, J.; M. MONTEIRO

    2005-01-01

    OBJECTIVES: To describe patterns of alcohol consumption in the Americas, to estimate the burden of disease attributable to alcohol in the year 2000, and to suggest implications for policies to reduce alcohol-related disease burden. METHODS: Two dimensions of alcohol exposure were included in this secondary data analysis: average volume of alcohol consumption and patterns of drinking. There were two main outcome measures: mortality (number of deaths) and disability-adjusted life years (DALYs) ...

  16. Pathways to Innovation in Asia's Leading Electronics Exporting Countries: Drivers and Policy Implications

    OpenAIRE

    Dieter Ernst

    2003-01-01

    This paper was prepared for the Democratic Pacific Assembly 2003 Conference, "Common Future of the 21st Century Pacific," September 18-21, 2003, in Taipei, Taiwan. This paper offers a framework for exploring emerging pathways to innovation in Asian electronics industries, as well as their drivers and policy implications. The focus is on "stylized facts" rather than on the diversity of specific country trajectories. I demonstrate that the role of Asia's leading players in the electronics indus...

  17. Obesity Prevention: A Review of the Interactions and Interventions, and some Policy Implications

    OpenAIRE

    Anura Amarasinghe; Gerard D'Souza

    2010-01-01

    Obesity is reaching epidemic proportions especially in the developed and, more recently, in the developing world where the problem is compounded by myriad socio-economic, demographic, built and natural environmental factors. This review examines the possible causes, consequences and policy implications using a multilevel, multispectral framework. The causes of obesity clearly are multifaceted and involve numerous interactions. Together with economic incentives, allocation of physical and fina...

  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. 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...

  20. Implications of the Private Property Right to the Community Forest Businesses Formalization through the Certification Policy

    OpenAIRE

    Bramasto Nugroho; Tatang Tiryana

    2014-01-01

    This study aimed to analyze the implication of formalization of community forest business efforts through mandatory timber legality certification policy. Field survey was conducted in March–April 2012 in 3 districts in Central of Java namely Blora, Wonogiri, and Wonosobo District. The results showed that community forest is mainly planting in their private owned land. It brings 2 consequences. Firstly, their willingness to manage their forest sustainably was emerged without any enforcement fr...

  1. Sustainable development from an Islamic Perspective: meaning implications and policy concerns

    OpenAIRE

    Hasan, Zubair

    2006-01-01

    Abstract This paper examines the debate on the meaning of sustainable development and the policy implications of different approaches from an Islamic perspective. It integrates mainstream and Islamic positions on the subject and argues that to whatever definition of sustainable development one might subscribe, eventually, each ends in an environmental concern. This paper attempts to show that the continuous increase in output of goods and services worldwide imposes a trade off between materia...

  2. The worst forms of child labour: dynamic model and policy implication

    OpenAIRE

    Kouki Sugawara

    2011-01-01

    This note analyzes an overlapping generations model including the worst forms of child labour based on Dessy and Pallage's (2005) study. We demonstrate the human capital dynamics and show the possibility of the emergences of a poverty trap given the worst forms of child labour, the high incidence of working children and the low level of human capital. The note concludes with some implications for child labour policy.

  3. 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)

  4. 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

  5. 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.

  6. 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.

  7. Financial inclusion - issues for central banks

    OpenAIRE

    Aaron Mehrotra; James Yetman

    2015-01-01

    Financial inclusion - access to financial services - is increasing worldwide, often with official support. This special feature discusses the implications for central banks. Greater financial inclusion changes the behaviour of firms and consumers in ways that could influence the effectiveness of monetary policy. The impact on financial stability may depend on how any improvements in financial access are achieved. Risks may rise if greater financial inclusion results from rapid credit growth, ...

  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. Degree of relevance of the Inflation Targeting policy: Practical aspect of the central banks experience of industrialized countries and adaptability for some developing and transition countries

    Directory of Open Access Journals (Sweden)

    Mohsen Brahmi

    2013-01-01

    Full Text Available Since the nineties years until nowadays, many industrialized countries adopted the inflation targeting strategy, following per other transition countries thus as other developing countries. In this framework, the monetary authorities are attached to announce an explicit target range of inflation rate foreseen on one or several periods. The inflation targeting requires the strengthening of communication between the monetary authorities and the public what enhance accountability and the discipline of the Central Bank towards its commitment to respect the realization of the objectives announced of its monetary policy in terms of inflation. The monetary authorities must be transparent concerning their monetary policy and will be judged, or even punished on all deviation from the target announced. The station results in a loss of credibility expressed by the economy actors. Through this paper, firstly, we discuss the theoretical background of this approach to inflation targeting as a new monetary policy rule. To do this, we have tried to practice this new strategy of inflation targeting while presenting its main interests, preconditions, its advantages and unwinding mechanisms. In a second time, we were moving to concrete examples through the main experiences of Industrialized Countries Central Banks, which are in fact the first precursors to incorporate explicit inflation targets in the formulation of monetary policies following this new strategy target, followed by other Transition countries (Czech Republic, Romania ... etc.. and some in developing countries such as Brazil and the Philippines, ... etc. which are actually encouraged by good results achieved by the major Western countries.

  10. 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.

  11. Norges Bank Watch 2003

    OpenAIRE

    Ekeli, Thomas; Haug, Anne Kari; Houg, Kjetil; Steigum, Erling, Jr

    2003-01-01

    The Centre for Monetary Economics (CME) at the BI Norwegian School of Management has for the fourth time invited a committee of economists to participate on Norges Bank Watch, with the objective of evaluating the monetary policy regime in Norway and Norges Bank’s conduct of monetary policy. This time the committee has focused on the conduct of policy rather than addressing institutional issues. The committee refers to Norges Bank Watch 2002 for a detailed assessment of the mone...

  12. 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

  13. 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.

  14. The Channels of Monetary Transmission: Lessons for Monetary Policy

    OpenAIRE

    Mishkin, Frederic S.

    1996-01-01

    This paper provides an overview of the transmission mechanisms of monetary policy, starting with traditional interest rate channels, going on to channels operating through other asset prices, and then on to the so-called credit channels. The paper then discusses the implications from this literature for how central banks might best conduct monetary policy.

  15. 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...

  16. 12 CFR 614.4355 - Banks for cooperatives.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Banks for cooperatives. 614.4355 Section 614.4355 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending and Leasing Limits § 614.4355 Banks for cooperatives. No bank for cooperatives may make a loan...

  17. 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.

  18. 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...

  19. 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, ...

  20. 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...

  1. Three myths about central banks

    OpenAIRE

    Geoffrey P. Miller

    2002-01-01

    Do central banks control the business cycle? Should price stability be their only monetary policy goal? Do politicians give up a degree of power and gain nothing personally when they grant central banks independence? This Commentary argues that none of these widely held notions is true. The Commentary is based on a speech presented to participants at the conference on the Origins and Evolution of Central Banking, sponsored by the Central Bank Institute of the Federal Reserve Bank of Cleveland...

  2. 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)

  3. 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

  4. 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.

  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. Technological learning and renewable energy costs: implications for US renewable energy policy

    International Nuclear Information System (INIS)

    This paper analyzes the relationship between current renewable energy technology costs and cumulative production, research, development and demonstration expenditures, and other institutional influences. Combining the theoretical framework of 'learning by doing' and developments in 'learning by searching' with the fields of organizational learning and institutional economics offers a complete methodological framework to examine the underlying capital cost trajectory when developing electricity cost estimates used in energy policy planning models. Sensitivities of the learning rates for global wind and solar photovoltaic technologies to changes in the model parameters are tested. The implications of the results indicate that institutional policy instruments play an important role for these technologies to achieve cost reductions and further market adoption

  7. 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

  8. Banks and sovereign risk: A granular view

    OpenAIRE

    Buch, Claudia M.; Koetter, Michael; Ohls, Jana

    2013-01-01

    In this paper, we use detailed data on the sovereign debt holdings of all German banks to analyse the determinants of sovereign debt exposures and the implications of sovereign exposures for bank risk. Our main findings are as follows. First, sovereign bond holdings are heterogeneous across banks. Larger, weakly capitalised banks and banks with a small depositor base hold more sovereign bonds. Around 31% of all German banks hold no sovereign bonds at all. Second, the sensitivity of banks to m...

  9. Economic Growth and Policy Reform in the APEC Region: Trade and Welfare Implications by 2005

    OpenAIRE

    Anderson, Kym; Dimaranan, Betina; Hertel, Thomas W.; Martin, Will

    1997-01-01

    This paper examines the impacts of key trade reforms likely to affect the APEC region over the next decade. It does so by taking an economy-wide perspective using projections to the year 2005, based on the global CGE model known as GTAP. The paper begins by showing that the empirical impact of implementing the Uruguay Round depends significantly on how China and Taiwan are treated. It then explores the market implications of increased economic growth in China, as well as several policy shocks...

  10. Implications of the Private Property Right to the Community Forest Businesses Formalization through the Certification Policy

    Directory of Open Access Journals (Sweden)

    Bramasto Nugroho

    2014-01-01

    Full Text Available This study aimed to analyze the implication of formalization of community forest business efforts through mandatory timber legality certification policy. Field survey was conducted in March–April 2012 in 3 districts in Central of Java namely Blora, Wonogiri, and Wonosobo District. The results showed that community forest is mainly planting in their private owned land. It brings 2 consequences. Firstly, their willingness to manage their forest sustainably was emerged without any enforcement from external parties. Secondly, there were autonomous in decision making in their way to manage their forest such as they only planted tree species that easy to sell and valuable, they only cut their trees when they need huge money for children schooling, marriage, illness, and housing. The autonomous decision making gives also the owners (farmers other alternatives to utilize their land otherwise planting the trees. It is mean, if the policy is decreasing the potential benefits from growing the trees, they can also convert their community forest into other business in which profitable and easy to sell their products. From those facts, it seems the formalization of community forest business through mandatory certification is not a proper policy to enhance the community forest.Keywords: community forest, formalization, policy, private property, timber legality DOI: 10.7226/jtfm.19.3.178

  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. 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.

  13. 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。

  14. 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

    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......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...

  15. 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 ...

  16. 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...

  17. Practices and policies of clinical exome sequencing providers: analysis and implications.

    Science.gov (United States)

    Jamal, Seema M; Yu, Joon-Ho; Chong, Jessica X; Dent, Karin M; Conta, Jessie H; Tabor, Holly K; Bamshad, Michael J

    2013-05-01

    Exome and whole genome sequencing (ES/WGS) offer potential advantages over traditional approaches to diagnostic genetic testing. Consequently, use of ES/WGS in clinical settings is rapidly becoming commonplace. Yet there are myriad moral, ethical, and perhaps legal implications attached to the use of ES and health care professionals and institutions will need to consider these implications in the context of the varied practices and policies of ES service providers. We developed "core elements" of content and procedures for informed consent, data sharing, and results management and a quantitative scale to assess the extent to which research protocols met the standards established by these core elements. We then used these tools to evaluate the practices and policies of each of the 6 U.S. CLIA-certified labs offering clinical ES. Approaches toward informed consent, data sharing, and results return vary widely among ES providers as do the overall potential merits and disadvantages of each, and more importantly, the balance between the two. PMID:23610049

  18. The emergence and policy implications of converging new technologies integrated from the nanoscale

    International Nuclear Information System (INIS)

    Science based on the unified concepts on matter at the nanoscale provides a new foundation for knowledge creation, innovation, and technology integration. Convergent new technologies refers to the synergistic combination of nanotechnology, biotechnology, information technology and cognitive sciences (NBIC), each of which is currently progressing at a rapid rate, experiencing qualitative advancements, and interacting with the more established fields such as mathematics and environmental technologies (Roco and Bainbridge, 2002). It is expected that converging technologies will bring about tremendous improvements in transforming tools, new products and services, enable human personal abilities and social achievements, and reshape societal relationships.After a brief overview of the general implications of converging new technologies, this paper focuses on its effects on R and D policies and business models as part of changing societal relationships. These R and D policies will have implications on investments in research and industry, with the main goal of taking advantage of the transformative development of NBIC. Introduction of converging technologies must be done with respect of immediate concerns (privacy, toxicity of new materials, etc.) and longer-term concerns including human integrity, dignity and welfare. The efficient introduction and development of converging new technologies will require new organizations and business models, as well as solutions for preparing the economy, such as multifunctional research facilities, integrative technology platforms, and global risk governance

  19. 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)

  20. 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.

  1. 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.

  2. Landscape Transformation in Tropical Latin America: Assessing Trends and Policy Implications for REDD+

    Directory of Open Access Journals (Sweden)

    Maria del Carmen Vera Diaz

    2010-12-01

    Full Text Available Important transformations are underway in tropical landscapes in Latin America with implications for economic development and climate change. Landscape transformation is driven not only by national policies and markets, but also by global market dynamics associated with an increased role for transnational traders and investors. National and global trends affect a disparate number of social, political and economic interactions taking place at the local level, which ultimately shapes land-use and socio-economic change. This paper reviews five different trajectories of landscape change in tropical Latin America, and discusses their implications for development and conservation: (1 Market-driven growth of agribusiness; (2 expansion and modernization of traditional cattle ranching; (3 slow growth of peasant agriculture; (4 logging in production forest frontiers; and (5 resurgence of agro-extractive economies. Contrasting trade-offs between economic development and forest conservation emerge across these landscapes, calling for nuanced policy responses to manage them in the context of climate change. This discussion sets the background to assess how reduction of emissions from deforestation and forest degradation and enhancing carbon stocks (REDD+ aims should be better aligned with current landscape trajectories and associated actors to better address climate-change mitigation in forest landscapes with effective and equitable outcomes.

  3. 77 FR 38838 - Compliance Policy Guide Sec. 230.110-Registration of Blood Banks, Other Firms Collecting...

    Science.gov (United States)

    2012-06-29

    ... HUMAN SERVICES Food and Drug Administration Compliance Policy Guide Sec. 230.110--Registration of Blood... Administration (FDA) is announcing the withdrawal of the compliance policy guide (CPG) entitled ``Sec. 230.110.... FOR FURTHER INFORMATION CONTACT: Robert L. Hummel, Division of Compliance Policy (HFC-230), Food...

  4. 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

  5. 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.

  6. 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.

  7. 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.

  8. Norges Bank Watch 2002

    OpenAIRE

    Svensson, Lars E.O.; Houg, Kjetil; Solheim, Haakon O. Aa.; Steigum, Erling, Jr

    2002-01-01

    The Centre for Monetary Economics (CME) at the Norwegian School of Management BI has for the third time invited a committee of economists for Norges Bank Watch, with the objective to evaluate the monetary-policy regime in Norway and Norges Bank’s conduct of monetary policy. The committee for Norges Bank Watch 2002 consists of Professor Lars E.O. Svensson (chair), Princeton University, Chief Economist Kjetil Houg, Alfred Berg, Doctorate Student Haakon O.Aa. Solheim, Norwegian ...

  9. Keeping Banking Competitive: Evaluating Proposed Bank Mergers and Acquisitions

    OpenAIRE

    Darwish, Nisreen

    2014-01-01

    All bank mergers and acquisitions (M&A) require the approval of regulators. This article describes the methods used by the Federal Reserve to evaluate whether a bank merger or acquisition is acceptable under federal antitrust laws and its Board of Governors’ bank competition policy.

  10. Emerging Regions, Persisting Rhetoric of Educational Aid: The Impact of the Asian Development Bank on Educational Policy Making in Kazakhstan

    Science.gov (United States)

    Asanova, Jazira

    2006-01-01

    This study explores the Asian Development Bank's (ADB) discourses and practices in the context of its educational sector support in Kazakhstan. Drawing on the document analysis and interviews with the ADB staff and Kazakhstan's education officials, the article examines ADB's discursive and operational frameworks in this Central Asian country. The…

  11. The History and Problems in the Making of Education Policy at the World Bank 1960-2000

    Science.gov (United States)

    Heyneman, S. P.

    2003-01-01

    The reports seem contradictory. With about three billion dollars per year in new loan commitments, the World Bank has become the single largest source of development capital in the field of international education. These resources help expand educational opportunities for young women in South Asia and rebuild primary schools following civil…

  12. 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

    ... reporting requirements for merchant banking investments are set forth in the Board's Regulation Y, 12 CFR... relationships (including contingent fees or contingent interests) with each company in which the financial... subsidiaries from legal liability for the operations conducted and financial obligations of each such...

  13. 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.

  14. Implications of changing national policies on land use in the Chittagong Hill Tracts of Bangladesh.

    Science.gov (United States)

    Thapa, Gopal B; Rasul, Golam

    2006-12-01

    Land use in the Chittagong Hill Tracts (CHT) of Bangladesh had undergone changes over the past several centuries. The landscape, which was mostly covered with forest with interspersed shifting cultivation plots until the beginning of the colonial period, has gradually changed into a landscape with a blend of land uses. Overall, the forest area has gradually declined, while the area under shifting cultivation and sedentary agriculture has expanded. The process of the change was multi-directional. National forestry, land use, land taxation, population migration policies, and development activities, such as construction of a hydroelectric dam and roads, played an important role in this process. Shifting cultivation had inflicted little damage on the forest until the beginning of the colonial period. The pace of deforestation accelerated with the nationalization of forests which abolished tribal people's customary use and management rights to the forest, and allowed large-scale commercial logging both legally and illegally. The pace was further intensified by the policy encouraging population migration to CHT and construction of a reservoir on the Karnafuli River. Efforts were made to replace shifting cultivation with more productive types of sedentary agriculture. However, much change could not take place in the absence of secure land rights, supportive trade policies, and the required support services and facilities, including infrastructure. Locationally suitable land use evolved in areas where transportation facilities were available and farmers were granted land title with the necessary extension services and credit facilities. These findings have important policy implications for the promotion of environmentally and economically sound land use in CHT. PMID:16549239

  15. 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.

  16. Targeted killings in Northern Ireland: an analysis of their effectiveness and implications for counter-terrorism policies

    OpenAIRE

    Finegan, Rory

    2014-01-01

    What effect if any, do Targeted Killings (TKs) have on cycles of violence? This study explores and offers a perspective on the claimed successes of counter-terrorist policies, the issues that underpin them with a focus on pre-emptive actions aimed at disrupting or removing the terrorist threat. The study examines counter-terrorism activities in Northern Ireland in order to provide a detailed analysis of the implications of the policy of selective TKs. For heuristic purposes the literature rev...

  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. DNA banking and DNA databanking by academic and commercial laboratories

    Energy Technology Data Exchange (ETDEWEB)

    McEwen, J.E. [Eunice Kennedy Shriver Center, Waltham, MA (United States)]|[Boston College Law School, Newton, MA (United States); Reilly, P.R. [Eunice Kennedy Shriver Center, Waltham, MA (United States)

    1994-09-01

    The advent of DNA-based testing is giving rise to DNA banking (the long-term storage of cells, transformed cell lines, or extracted DNA for subsequent retrieval and analysis) and DNA data banking (the indefinite storage of information derived from DNA analysis). Large scale acquisition and storage of DNA and DNA data has important implications for the privacy rights of individuals. A survey of 148 academically based and commercial DNA diagnostic laboratories was conducted to determine: (1) the extent of their DNA banking activities; (2) their policies and experiences regarding access to DNA samples and data; (3) the quality assurance measures they employ; and (4) whether they have written policies and/or depositor`s agreements addressing specific issues. These issues include: (1) who may have access to DNA samples and data; (2) whether scientists may have access to anonymous samples or data for research use; (3) whether they have plans to contact depositors or retest samples if improved tests for a disorder become available; (4) disposition of samples at the end of the contract period if the laboratory ceases operations, if storage fees are unpaid, or after a death or divorce; (5) the consequence of unauthorized release, loss, or accidental destruction of samples; and (6) whether depositors may share in profits from the commercialization of tests or treatments developed in part from studies of stored DNA. The results suggest that many laboratories are banking DNA, that many have already amassed a large number of samples, and that a significant number plan to further develop DNA banking as a laboratory service over the next two years. Few laboratories have developed written policies governing DNA banking, and fewer still have drafted documents that define the rights and obligations of the parties. There may be a need for increased regulation of DNA banking and DNA data banking and for better defined policies with respect to protecting individual privacy.

  19. Norges Bank Watch 2005

    OpenAIRE

    Dørum, Øystein; Holden, Steinar; Isachsen, Arne Jon

    2005-01-01

    Monetary policy in Norway is quite successful. The series of cuts in the signalling rate starting in December 2002, and a low interest rate during 2004, seems the appropriate policy choice. The analyses on monetary policy done in the Bank document a highly competent staff. Communication with the market is good and steadily improving. Not surprisingly, there is still room for improvement in the conduct of monetary policy in Norway. Those areas should receive particular attention in a Report li...

  20. FRACTIONAL BANKING

    OpenAIRE

    Maria Klimikova

    2010-01-01

    Understanding the reasons of the present financial problems lies In understanding the substance of fractional reserve banking. The substance of fractional banking is in lending more money than the bankers have. Banking of partial reserves is an alternative form which links deposit banking and credit banking. Fractional banking is causing many unfavorable economic impacts in the worldwide system, specifically an inflation.

  1. 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.

  2. Union Bargaining in an Oligopoly Market with Cournot-Bertrand Competition: Welfare and Policy Implications

    Directory of Open Access Journals (Sweden)

    Elizabeth Schroeder

    2014-03-01

    Full Text Available We investigate the welfare effect of union activity in a relatively new oligopoly model, the Cournot-Bertrand model, where one firm competes in output (a la Cournot and the other firm competes in price (a la Bertrand. The Nash equilibrium prices, outputs, and profits are quite diverse in this model, with the competitive advantage going to the Cournot-type competitor. A comparison of the results from the Cournot-Bertrand model with those found in the traditional Cournot and Bertrand models reveals that firms and the union have a different preference ordering over labor market bargaining. These differences help explain why the empirical evidence does not support any one model of union bargaining. We also examine the welfare and policy implications of union activity in a Cournot-Bertrand setting.

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

    DEFF Research Database (Denmark)

    Zheng, Yuan

    As challenges and opportunities induced by climate change become increasingly manifested, adaptation strategies to these changes have received growing attention. While earlier studies focus on quantifying impacts of climate change or adaptation potential, empirical studies have been increasingly...... emphasised to document localised and actual adaptation practices. Although the latter has made important contributions to investigating people’s perceptions and interpretations of climate change, examining individual and collective climate responses as well as determinants of and barriers to adaptation....... 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...

  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. 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.

  6. 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

  7. The outlook for crude oil supply and demand in Australia and its energy policy implications

    International Nuclear Information System (INIS)

    Australia's oil reserves and production have contributed significantly to national economic prosperity and growth since the first large scale discoveries in Bass Strait in the 1960s. As a finite, non-renewable resource, the reserves ultimately must decline. In 1988 the forecast was that Australia's oil production would begin to decline in the mid 1990s and then rapidly tail off by the late 1990s. With this in mind, AMEC Ministers agreed in 1988 that a Working Group should review the energy policy implications of the forecast decline in the production of petroleum. The Working Group's findings are presented in this booklet. Chapter 2 examines the outlook for demand for petroleum products in Australia until 2005. This Chapter is based on current Australian Bureau of Agricultural and Resource Economics (ABARE) forecasts as well as savings in fuel demand that are potentially available from fuel efficiency and fuel switching measures. Chapter 3, which includes BMR's recently revised petroleum production forecasts, looks at the outlook for crude oil and condensate production, also to 2005. Chapter 4 discusses the range of government initiatives already in place to foster the efficient exploration and production of petroleum in Australia. This Chapter also examines the outlook for Australian alternative liquid fuels. Chapter 5, which is based on analysis by ABARE, broadly examines the possible macroeconomic implications of declining oil production for Australia while Chapter 6 examines the issue of energy security and in particular its relationship with oil self sufficiency. Finally, Chapter 7 identifies some energy policy considerations and recommendations arising out of the Working Group's analysis. 7 tabs, 3 figs

  8. 12 CFR 615.5335 - Bank net collateral ratio.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Bank net collateral ratio. 615.5335 Section 615.5335 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Surplus and Collateral Requirements § 615.5335 Bank...

  9. 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。

  10. 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.

  11. 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...

  12. 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...

  13. Myths and Facts about Sexual Offenders: Implications for Treatment and Public Policy

    Directory of Open Access Journals (Sweden)

    Timothy Fortney

    2007-06-01

    Full Text Available Aim: The purpose of this study was to determine to what extent perceptions about sexual offenders are based on empirical evidence or misconceptions.Background: Sexual offenders have often been under the spotlight of media attention and public censure. Legislatures in the United States and abroad have passed increasingly restrictive and intrusive laws in order to protect the public from convicted sexual offenders. Sex offender policies are often passed hastily and are not based on scientific evidence but on emotional reactions to high profile, violent, disturbing cases.Method: Data were collected in Brevard County, Florida from 192 community members and 125 sexual offenders in outpatient treatment, all of whom were surveyed regarding their knowledge about five common themes. Comparisons between groups were analyzed, as were comparisons between participants’ responses and published data.Results: Results revealed that both sex offenders and the public overestimated the rate by which strangers victimize children, and overestimated the number of sex offenders who were victims of sexual abuse in childhood. Both offenders and the public overestimated the number of sex crimes that come to the attention of authorities. The public more extensively than offenders overestimated the frequency of sexual recidivism rates and underestimated the efficacy of sexual offender treatment in comparison to the literature. Conclusions: Common misconceptions may interfere with offenders’ treatment and reintegration into society as well as influence legislatures to pass laws that are misguided and inefficient. Implications for policy and practice are discussed.

  14. 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

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

    Science.gov (United States)

    Bingham, A. H.; Cotrufo, M. F.

    2015-06-01

    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 the factors and mechanisms that influence the long-term sequestration of organic nitrogen in mineral soils. It examines the policy and management implications which stem from this newly accepted paradigm, such as critical loads considerations and 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.

  17. 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.

  18. 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.

  19. 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.

  20. Credit risk in Egyptian banks

    OpenAIRE

    Abdou, Hussein

    2006-01-01

    This research aims to identify the currently used techniques in evaluating credit risk in Egypt’s banking sector, then to evaluate these techniques and to develop model(s) to evaluate credit risk in Egyptian banks. In a pilot study, the researcher conducted informal interviews with key personnel in three of the Egyptian banks, in order to evaluate credit risk policies. The pilot study showed that these banks do not use any of the statistical techniques in the evaluation pr...

  1. 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…

  2. Unconventional Monetary Policy Normalization in High-Income Countries : Implications for Emerging Market Capital Flows and Crisis Risks

    OpenAIRE

    Burns, Andrew; Kida, Mizuho; Lim, Jamus Jerome; Mohapatra, Sanket; Stocker, Marc

    2014-01-01

    As the recovery in high-income countries firms amid a gradual withdrawal of extraordinary monetary stimulus, developing countries can expect stronger demand for their exports as global trade regains momentum, but also rising interest rates and potentially weaker capital inflows. This paper assesses the implications of a normalization of policy and activity in high-income countries for fina...

  3. 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…

  4. 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…

  5. Is Career Guidance for the Individual or for the Market? Implications of EU Policy for Career Guidance

    Science.gov (United States)

    Bergmo-Prvulovic, Ingela

    2014-01-01

    This paper explores the essential understanding and underlying perspectives of career implicit in EU career guidance policy in the twenty-first century, as well as the possible implications of these for the future mission of guidance. Career theories, models and concepts that serve career guidance are shaped on the twentieth-century industrial…

  6. 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.

  7. 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

  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. Role of healthcare workers in early epidemic spread of Ebola: policy implications of prophylactic compared to reactive vaccination policy in outbreak prevention and control.

    OpenAIRE

    Coltart, CE; Johnson, AM; Whitty, CJ

    2015-01-01

    Ebola causes severe illness in humans and has epidemic potential. How to deploy vaccines most effectively is a central policy question since different strategies have implications for ideal vaccine profile. More than one vaccine may be needed. A vaccine optimised for prophylactic vaccination in high-risk areas but when the virus is not actively circulating should be safe, well tolerated, and provide long-lasting protection; a two- or three-dose strategy would be realistic. Conversely, a react...

  10. A shell-derived time history of bomb 14C on Georges Bank and its Labrador Sea implications

    International Nuclear Information System (INIS)

    Bomb-produced radiocarbon has been used in the past as an important tracer of ocean circulation and as a valuable tool for calculating CO2 air-sea exchange. However, previous studies of the ocean's time-varying bomb 14C record have been confined exclusively to analyzing banded corals, and thus their application has been limited to the lower latitudes. The first time history of bomb 14C from the high-latitude North Atlantic Ocean is obtained from a 54-year-old mollusc specimen, (Bivalvia) Arctica islandica, which was collected live from Georges Bank (41 degrees N) in 1990. The annual growth bands of its shell were analyzed for Δ14C using accelerator mass spectrometry, producing a Δ14C time history from 1939 to 1990. The depleted condition of the Georges Bank bomb 14C signal relative to two coral-derived North Atlantic Δ14C time histories suggests a significant deepwater source for the waters on Georges Bank. Supported by previous work linking the origin of waters on Georges Bank to the Labrador Sea, the Δ14C budget on Georges Bank is modeled as Labrador Sea water, which largely becomes confined to the shelf and partially equilibrates with the atmosphere during a 1-year transit time from the Labrador Sea to Georges Bank. This model is also used to estimate a time history of bomb 14C for the Labrador Sea. Prebomb Δ14C values calculated for the surface Labrador Sea suggest that a greater inventory of bomb 14C has accumulated here than has previously been reported. Deduced variations in the ventilation and/or 14CO2 uptake rates in the Labrador Sea correspond with observed changes in surface salinity of the Labrador Sea, suggesting a reduction in deepwater formation during the late 1960s and 1970s. 59 refs., 11 figs., 2 tabs

  11. 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.

  12. Safeguarding Banks and Containing Property Booms; Cross-Country Evidenceon Macroprudential Policies and Lessons From Hong Kong SAR

    OpenAIRE

    Malhar Nabar; Ashvin Ahuja

    2011-01-01

    We assess the effectiveness of macroprudential policies against a number of different indicators of property sector activity and financial stability. At the cross-country level the use of LTV caps decelerates property price growth. Both LTV and DTI caps slow property lending growth. LTV caps also affect a broader range of financial stability indicators in economies with pegged exchange rates and currency boards. For Hong Kong SAR, LTV policy tends to be forward looking, with caps lowered to c...

  13. Norges Bank Watch 2009

    OpenAIRE

    BERGMAN, MICHAEL; Juel, Steinar; Steigum, Erling, Jr

    2009-01-01

    This report evaluates the conduct of monetary policy in Norway in 2008. We will not discuss the institutional framework for monetary policy. The report offers, however, an evaluation of the new price index, CPIXE, which Norges Bank adopted in 2008 for measuring underlying inflation.

  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. DNA banking and DNA databanking: Legal, ethical, and public policy issues. Progress report, [April 1, 1993--March 31, 1994

    Energy Technology Data Exchange (ETDEWEB)

    Reilly, P.R.; McEwen, J.E.; Small, D.

    1994-02-18

    The purpose of the grant was to provide support to enable us to: (1) perform legal and empirical research and critically analyze DNA banking and DNA databanking as those activities are conducted by state forensic laboratories, the military, academic researchers, and commercial enterprises; and (2) develop a broadcast quality educational videotape for viewing by the general public about DNA technology and the privacy and related issues that it raises. The grant thus has both a research and analysis component and a public education component. This report outlines the work completed since the inception of the project and describes the activities still in progress.

  16. 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.

  17. 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

  18. 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…

  19. 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…

  20. 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.

  1. 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.

  2. Retail Banking

    OpenAIRE

    Adam Szafarczyk

    2008-01-01

    The retail banking plays more and more important role in polish banking sector. There are several targets of this article. First of all is retail banking identification, both in Euroland and Poland. The next one – trends, especially household deposits and credits and last – retail banking in particular banks.

  3. GREEN BANKING IN INDIA

    Directory of Open Access Journals (Sweden)

    S.G. KHAWASPATIL

    2013-01-01

    Full Text Available Sustainable enlargement can best be achieved by permitting markets to work within an appropriate framework of cost efficient regulations and economic instruments. One of the major economic agents influencing overall industrial activity and economic growth is the financial institutions such as banking sector. In a globalised economy, the industries and firms are vulnerable to stringent environmental policies, severe law suits or consumer boycotts. Since banking sector is one of the major stake holders in the Industrial sector, it can find itself faced with credit risk and liability risks. Further, environmental impact might affect the quality of assets and also rate of return of banks in the long-run. Thus the banks should go green and play a pro-active role to take environmental and ecological aspects as part of their lending principle, which would force industries to go for mandated investment for environmental management, use of appropriate technologies and management systems. This paper explores the importance of Green Banking, sites international experiences and highlights important lessons for sustainable banking and development in India. However, we find that there has not been much initiative in this regard by the banks and other financial institutions in India though they play an active role in India's emerging economy. Therefore, we suggest possible policy measures and initiative to promote green banking in India.

  4. 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.

  5. 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.

  6. The seasonality of phosphorus transfers from land to water: implications for trophic impacts and policy evaluation.

    Science.gov (United States)

    Jordan, P; Melland, A R; Mellander, P-E; Shortle, G; Wall, D

    2012-09-15

    The Nitrates Directive regulations are a Programme of Measures under the EU Water Framework Directive to protect waters from agricultural transfers of nitrogen and phosphorus. Soil phosphorus management to an agronomic optimum and closed winter periods for organic and inorganic fertiliser amendments are among a suite of policy measures to curtail diffuse pollution at catchment scale. In this investigation, two intensive grassland and two arable catchments (7-12 km(2)) in the Republic of Ireland were studied to link a high resolution spatial survey (≤2 ha) of soil P availability with P delivery in receiving rivers; monitored on a sub-hourly basis over one year. Data indicated that source risk, as defined by soil P availability and organic P loading, was less important than mobilisation and hydrological transfer potential which increased delivery due to runoff flashiness as described by a hydrological metric during the winter. Overall, however, annual TP loads were low to moderate (0.175 to 0.785 kg ha(-1) yr(-1)). The data also highlighted, without exception, the influences of summer background P loading and subsequent ecologically significant P concentrations from persistent point sources. This may have implications for expected ecological status and recovery in these catchments, which appeared more at risk in catchments with little buffering in terms of summer base flow dilution. Wetter winters and drier summers under climate change scenarios would likely increase stream P concentrations both during storms and during baseflows and would be particularly magnified in those catchments with flashy runoff and suppressed baseflow. These seasonal insights into source-to-delivery functions and risk (re)assessment were only possible with high resolution (spatial and temporal) data collection and will be important in influencing expectations of policies that are evaluated at larger scales but with coarser resolution sampling. PMID:22425173

  7. 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 ...

  8. Education and Its Poverty-Reducing Effects: The Case of Paraiba, Brazil. World Bank Policy Research Working Paper 3321

    Science.gov (United States)

    Verner, Dorte

    2004-01-01

    The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. Breaking the inter-generational transmission of poverty requires far-reaching actions in the education sector. Widespread poverty affects both students' performance and their availability to attend…

  9. 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.

  10. Fuel pricing policies in South America and Mexico. Economic and environmental implications

    International Nuclear Information System (INIS)

    allow us to compare the pricing policies implemented in the various countries of the region. The second objective is to analyse the implications of these policies with regard to economy and the environment. The study is intended to facilitate dialogue among governments, decision makers and various stakeholders in countries studied her, as well as in other countries of the region. The fuels studied are gasoline, diesel, kerosene, liquefied petroleum gas and fuel oil. The analysis of the price structure for fuels focuses on the price formation chain of the downstream, including the three main components, namely, pre-refinery, taxes and mark-ups. Price structures for December 2001 and December 2002 are presented and compared. The study also includes a presentation of the monitoring process for fuel pricing applied in the countries studied. (BA)

  11. 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.

  12. 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...

  13. 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...

  14. 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.

  15. 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.

  16. Intermediation Efficiency of Banks in South-East Europe: An Empirical Assessment Using Dea and Malmquist Index

    Directory of Open Access Journals (Sweden)

    Valentin Toci

    2013-07-01

    Full Text Available Using a database consisting of almost all banks in four countries in South-East Europe and employing non-parametric methodologies, the efficiency of banks is investigated for the period 2002-2005 and the superior efficiency of foreign-owned banks in intermediation is supported. It is argued that the overall efficiency improvement has originated from the change in technology rather than scale and technical efficiency, and banks on average have not been able to catch-up with best-performers, thus widening the efficiency gap. The largest sources of inefficiency are found to be lending shortfalls, cost and scale inefficiencies. In Kosovo, although there has been some improvement, the banking system remained less efficient than elsewhere. Based on these findings, a number of policy implications aiming at enhancing the intermediation efficiency of banks are derived.

  17. 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.

  18. Urban energy use and carbon emissions from cities in China and policy implications

    International Nuclear Information System (INIS)

    Urban areas contain 40% of the population and contribute 75% of the Chinese national economy. Thus, a better understanding of urban energy uses is necessary for Chinese decision-makers at various levels to address energy security, climate change mitigation, and local pollution abatement. Therefore, this paper addresses three key questions: What is the urban contribution to China's energy usage and CO2 emissions? What is the contribution of large cities, and what alternate energy-economy pathways are they following? How have energy uses and CO2 emissions transformed in the last two decades in key Chinese cities? This three-tier analysis illustrates the changes in urban energy uses and CO2 emissions in China. The results show that the urban contributions make up 84% of China's commercial energy usage. The 35 largest cities in China, which contain 18% of the population, contribute 40% of China's energy uses and CO2 emissions. In four provincial cities, the per capita energy usage and CO2 emissions have increased several-fold. Rapid progress was made in reducing the carbon intensity of economic activities in cities throughout the 1990s, but alarmingly, such progress has either slowed down or been reversed in the last few years. These results have important policy implications.

  19. 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.

  20. 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.

  1. 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

  2. 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...

  3. 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.

  4. Elder Financial Exploitation: Implications for Future Policy and Research in Elder Mistreatment

    OpenAIRE

    Price, Thomas; King, Patricia S; Dillard, Rebecca L; Bulot, James J

    2011-01-01

    Recent advances in the understanding of elder mistreatment have demonstrated that financial exploitation tends to be one of the most common forms of mistreatment affecting older populations. Agencies such as the World Bank and World Health Organization show significant concern regarding financial exploitation and its connection to physical and emotional injury to victims. The World Bank uses the term “financial violence” as a means of generally describing the harm caused to an individual as a...

  5. Implications of global pricing policies on access to innovative drugs::the case of trastuzumab in seven Latin American countries

    OpenAIRE

    Pichon-Riviere, A; Garay, O.U.; Augustovski, F.; Vallejos, C.; Huayanay, L.; del Pilar Navia Bueno, M.; Rodriguez, A.; Coelho de Andrade, C.J.; Buendía, J.A.; Drummond, M F

    2015-01-01

    Background: Differential pricing, based on countries’ purchasing power, is recommended by the WHO to secure affordable medicines. However, in developing countries innovative drugs often have similar or even higher prices than in high-income countries. We evaluated the potential implications of trastuzumab global pricing policies in terms of cost-effectiveness (CE), coverage and accessibility for patients with breast cancer in Latin America (LA). Methods: A Markov model was designed to estimat...

  6. 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...

  7. 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.

  8. 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

  9. 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

  10. About Banking.

    Science.gov (United States)

    Pieslak, Raymond F.

    The student manual for high school level special needs students was prepared to provide deaf students with the basic fundamentals of banking. Five units are presented covering the topics of banks and banking services, checking accounts, other services of banks, savings accounts, and other investments. Each lesson was carefully written for easy…

  11. 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

  12. Regional differences in Chinese SO2 emission control efficiency and policy implications

    Directory of Open Access Journals (Sweden)

    Q. Q. Zhang

    2015-02-01

    aqueous oxidation. In addition, NC makes the largest contribution to inter-regional transport of sulfur within China and to the transport fluxes to Western Pacific. The policy implication is that China needs to carefully design a regionally specific implementation plan of realizing its SO2 emissions reduction target in order to maximize the resulting air quality benefits not only for China but for the downwind regions, with emphasis on reducing emissions from NC.

  13. 7 CFR 1610.5 - Minimum Bank loan.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Minimum Bank loan. 1610.5 Section 1610.5 Agriculture Regulations of the Department of Agriculture (Continued) RURAL TELEPHONE BANK, DEPARTMENT OF AGRICULTURE LOAN POLICIES § 1610.5 Minimum Bank loan. A Bank loan will not be made unless the applicant qualifies for a Bank loan of at least...

  14. 12 CFR 614.4354 - Federal land bank associations.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Federal land bank associations. 614.4354 Section 614.4354 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND... association may assume endorsement liability on any loan if the total amount of the association's...

  15. Green Banking Dalam Kebijakan Kredit Perbankan Di Indonesia

    OpenAIRE

    Sabtia

    2011-01-01

    Banking institution plays an important and strategic role in an attempt to protect and to manage the environment. In protecting the environment, the banking institution can do it through the pattern of green banking. Green banking is a financial institution prioritizing sustainability in its business practice. The policy on credit at green banking can increase its competitiveness and own superiority in business strategy. Participation of banking in supporting green banking management is in li...

  16. 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…

  17. 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.

  18. Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel

    OpenAIRE

    Dennis Campbell; Frances Frei

    2010-01-01

    This paper uses the context of online banking to investigate the consequences of using self-service distribution channels to alter customer interactions with the firm. Using a sample of retail banking customers observed over a 30-month period at a large U.S. bank, we test whether changes in service consumption, cost to serve, and customer profitability are associated with the adoption of online banking. We find that customer adoption of online banking is associated with (1) substitution, prim...

  19. 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

  20. Equilibrium analysis, banking, contagion and financial fragility

    OpenAIRE

    Tsomocos, Dimitrios P.

    2003-01-01

    This paper contains a General Equilibrium model of an economy with Incomplete Markets (GEI) with money and default. The model is a simplified version of the real world consisting of a non-bank private sector, banks, a Central Bank, a government and a regulator. The model is used to analyse actions by policy makers and to identify policy relevant empirical work. Key analytical results are: A financially fragile system need not collapse; efficiency can be improved with policy intervention; and ...