ERN: Legal Aspects of the Macroeconomy (Topic)最新文献

{"title":"The FinTech Dividend: How Much Money Is FinTech Likely to Mobilize for Sustainable Development?","authors":"Bryane Michael","doi":"10.2139/SSRN.3589224","DOIUrl":"https://doi.org/10.2139/SSRN.3589224","url":null,"abstract":"FinTech offers a new way to mobilize resources for all kinds of uses – including for funding sustainable development. Roughly 3%-13% of funding required for the UN’s Sustainable Development Goals (SDGs)– or around $50 billion to $125 billion -- could come from a ‘FinTech Dividend.’ Such a dividend derives from the use of FinTech platforms to increase savings and investment (overall), channel resources into publicly funded as well as privately-funded SDG-related activities and policies, and encourage the use of internet platforms, which deliver novel goods and services that relate to the seventeen SDGs. Less than half of UN members have FinTech laws and policies – making FinTech a ripe area for right-regulating. Unfortunately, in areas like institutional reform – no amount of money can guarantee achieving the SDGs, without wider legal and administrative reforms. And no clear data about the exact policies needed to help grow an economy (or pay for SDG spending) serve as any guide. With total investment in FinTech stuck at around $150 billion to $200 billion – the hoped for deluge of FinTech dollars on SDG activities may remain a trickle for years to come.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128882536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does Anglo-Saxon Corporate Governance Matter for Capitalist Development of Emerging Asian Economy? A Case Study of India","authors":"Prabirjit Sarkar","doi":"10.2139/ssrn.2980818","DOIUrl":"https://doi.org/10.2139/ssrn.2980818","url":null,"abstract":"The voluminous body of law and finance literature argues that legal rules shape economic outcomes as far as they support market-based economic activity. This is what suggested in new institutional economics. It is pointed out that legal protections for shareholders will lead to stock market development and ease the financial constraint for corporate growth through capital formation. In the ‘neo-liberal’ era of privatisation and disinvestments in the existing public sector companies, stock market development is given a top priority in the Washington Consensus. It is expected to provide a market mechanism for private corporate capital accumulation (along with public sector disinvestments) and economic growth. \u0000The empirical basis of the ‘law matters’ postulate is by and large cross-sectional. The present paper examines this postulate on the basis of the experience of an emerging Asian economy, India, over a time span of 30 years, namely, 1976-2005. This type of time-series study is made possible by the availability of ‘leximetric’ data from the source of Centre for Business Research at the University of Cambridge, UK (hereafter CBR). This study uses the time-series technique of cointegration and vector error correction modelling that takes into account the short-term relationship (temporary impact) and the stability of the adjustment process through which the short-term relationship (if any) culminates into a long-term relationship (permanent impact, if any). It examines the two-way relationship — whether shareholder protection influences stock market development or changes in stock market scenario create an effective pressure on the lawmakers to introduce legal changes or both. It is not true that the nature of a country’s legal infrastructure is fixed as an endowment. Legal infrastructure often interacts with politico-economic developments and may be altered by them. It can be examined by modelling the two-way relationships. \u0000This study will add to the existing literature. It recognises the fact that impact of law on economic variables is not instantaneous – it has a path dependency. The path may not be stable; a short-term outcome (significant or not significant) may not lead to a (significant or not significant) long-term outcome. It may so happen that the nature of the short-term outcome is the polar opposite of the long-term outcome. \u0000What is observed in this study challenges the so-called conventional wisdom created by the series of studies by La Porta and his colleagues. It is observed that shareholder protection has no long-term favourable effect on stock market development. At best there is no effect (as in stock market trading) and at worst there is negative effect (as in turnover ratio). \u0000The avowed objective of improving corporate governance and granting better rights to shareholders is not just for securing the property right of the property-owners. It also promotes the stock market so that the general public will be encouraged to buy","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116937065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Push for Practical Legal Skills Education in Qatar: Results from an Externship Program","authors":"Melissa Deehring","doi":"10.5339/IRL.2016.10","DOIUrl":"https://doi.org/10.5339/IRL.2016.10","url":null,"abstract":"For decades, educators across the world have been advocating for educational reform that would increase the number of practical skills courses included in traditional legal education. In 2011, Qatar University College of Law established a practical skills class, the Externship Program, designed to teach students real life lawyering skills, encourage graduates to pursue legal careers, and overcome existing administrative, cultural, and social barriers while preserving Qatari identity and customs. This article will first briefly present some existing scholarship regarding the global push for practical skills legal education and then explain results achieved by Qatar University and make the argument that more practical skills education can and should be implemented in the MENA region.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129354777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Институциональные Ограничения Оборота Сельскохозяйственных Земель в России (Institutional Restrictions of Farmlands Turnover in Russia)","authors":"Natalia Shagaida","doi":"10.2139/ssrn.2654705","DOIUrl":"https://doi.org/10.2139/ssrn.2654705","url":null,"abstract":"Russian Abstract: Обобщение практики внесения изменений в законодательство позволяет сделать вывод о том, что она обеспечивает сохранение серьезных институциональных ограничений земельного оборота. Они обусловлены разобранными в работе обстоятельствами. \u0000 \u0000English Abstract: Synthesis of amendments introduction practice of legislation allows to draw a conclusion that it provides preservation of serious institutional restrictions in land turnover. They are caused by the circumstances sorted in this work.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128313584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Review of Russia's Economic Legislation in October 2015","authors":"I. Tolmacheva, Julia Grunina","doi":"10.2139/SSRN.2545052","DOIUrl":"https://doi.org/10.2139/SSRN.2545052","url":null,"abstract":"In October, the following amendments were introduced into the legislation: such new as well as updated norms of the Civil Code of the Russian Federation as regulate the civil institute of the international private law will become effective from November 2013; the annual quota on education of foreign nationals and stateless persons at the expense of allocations from the federal budget does not exceed 15,000 persons.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124634932","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China&Apos;S Regional and Bilateral Trade Agreements","authors":"Chunding Li, Jing Wang, J. Whalley","doi":"10.3386/W19853","DOIUrl":"https://doi.org/10.3386/W19853","url":null,"abstract":"China has been increasingly active on the regional trade agreement front over since WTO Accession occurred in 2001. These agreements, unlike the US and EU cases, follow no template form of agreement but vary substantially one among the others and are in part an attempt to customize agreements to partner prior agreements. There are presently 12 concluded agreements, 6 under negotiation, and four others under consideration. These concluded are in the main with smaller countries. Those in prospect are with major trading areas (US, Japan, Korea, and India). All are driven in part by China's needs for export access to fuel continuing export lead growth, but other elements enter including using regional agreements to offset unwelcome elements of multilateral arrangements (such as the non-market economy labelling), and attempting to put in place via RTA building blocks an Asian trading hub. Outstanding issues not centrally addressed by these agreements include anti-dumping duties, and investment and competition issues.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121056568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China's Outward Foreign Direct Investment: Salient Features, Drivers and Its Institutional Framework","authors":"K. Sauvant, V. Z. Chen","doi":"10.2139/ssrn.3217852","DOIUrl":"https://doi.org/10.2139/ssrn.3217852","url":null,"abstract":"China has become the top emerging market outward investor, with continuing growth potential. This, in turn, has triggered growing interest in the salient features of this phenomenon, its drivers and the institutional framework in which it is embedded. China’s OFDI has indeed clear features: it predominantly comes from three major economic centers (the Yangtze River Delta, the Pearl River Delta, the Bohai Gulf). The Asian neighborhood (mostly Hong Kong) and the tertiary sector are the primary first hosts of the country’s OFDI, with developed countries and natural resources being the major ultimate destinations. State-owned enterprises (SOEs), particularly the central ones, are the dominant players, with mergers and acquisitions (M&As) becoming a fast rising mode of entry. To a large extent, these features are related to China’s unique institutional environment, where the government, through both regulation and support, plays a major role in OFDI activities, in response to the pressure of enterprises to liberalize the regulatory framework for OFDI and in order to further the country’s development strategy. China’s OFDI is driven primarily by the desire to support its exports, secure the supply of natural resources, acquire such strategic assets as technology and brands, service markets, and improve production cost efficiency, as well as some special factors. This takes place within an FDI regulatory framework that has moved from restrictive, to liberal, to encouraging. However, China’s OFDI faces various challenges related to the internationalization of the firms themselves, their reception in host countries and the manner in which the Government helps the outward FDI of its firms. China, the host countries to the OFDI of her firms and the international economy stand to gain from the rise of China’s OFDI, provided they take a dispassionate approach to the possible costs and benefits of this investment. This article provides an overview of these issues, with special attention to regulatory questions.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"435 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115935641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Contractul de Farm-Out (The Farm Out Contract)","authors":"C. Stănescu","doi":"10.2139/ssrn.2925149","DOIUrl":"https://doi.org/10.2139/ssrn.2925149","url":null,"abstract":"Romanian Abstract: Contractul de transfer al drepturilor derivate din acordurile de concesiune petroliera (cunoscut drept contractul de Farm-Out), este unul dintre cele mai uzitate contracte in industria petroliera, inclusiv in Romania. Cu toate acestea pana in prezent mediul academic nu i-a acordat suficienta atentie. Articolul de fata doreste sa umple acest vid si sa ofere celor interesati o prezentare de ansamblu a contractului din perspectiva legislatiei romane in materie. De asemenea, fara a fi exhaustiv, articolul analizeaza in detaliu cele mai importante aspecte, atat teoretice cat si practice, ale contractului, cu dorinta declarata de a oferi juristilor care activeaza in domeniu un instrument care sa le fie cat mai util in activitatea lor. Nu in ultimul rand, speram ca articolul sa fie doar punctul de start al analizei unui domeniu de o importanta capitala si care, din motive inexplicabile, a fost ignorat pana acum de doctrina juridica romaneasca. \u0000English Abstract: The contract for the transfer of rights deriving from oil and gas concession agreements (known as the Farm-Out Contract) is one of the most used contracts in the petroleum industry, including in Romania. However, so far Romanian scholars have not given it enough consideration. This article wishes to fill this void in and provide those interested an overview of the contract from the perspective of Romanian legislation. Without being exhaustive, the article examines in detail the most important aspects of the contract, both theoretical and practical, with the stated desire to provide lawyers working in the field with an useful instrument to their work. Last but not least, we hope that the article is only the starting point of the analysis of an area of paramount importance that, for unexplained reasons, has been ignored so far by Romanian legal literature.","PeriodicalId":249207,"journal":{"name":"ERN: Legal Aspects of the Macroeconomy (Topic)","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116985602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}