INTL: Economic & Financial Issues (Topic)最新文献_第6页

Regional Interest Rate Variations: Evidence from the Indonesian Credit Markets 区域利率差异:来自印尼信贷市场的证据

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-07-18 DOI: 10.2139/ssrn.2112094

Masagus M. Ridhwan, H. de Groot, Piet Rietveld(Deceased), P. Nijkamp

引用次数: 1

Cultural-Institutional Persistence under International Trade and Factor Mobility 国际贸易与要素流动下的文化—制度持久性

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-07-13 DOI: 10.2139/ssrn.1368300

Marianna Belloc, S. Bowles

{"title":"Cultural-Institutional Persistence under International Trade and Factor Mobility","authors":"Marianna Belloc, S. Bowles","doi":"10.2139/ssrn.1368300","DOIUrl":"https://doi.org/10.2139/ssrn.1368300","url":null,"abstract":"We address two seemingly unrelated empirical anomalies: the remarkable historical persistence of cultural and institutional differences affecting production and distribution even among nations and regions engaged in extensive trading, and the shortcomings of the standard model that predicts inter- national specialization and trade on the basis of differences in factor endowments or technologies. We model the endogenous evolution of both culture (the distribution of preferences affecting individual behavior) and institutions (the distribution of contracts among employers and employees), show- ing that in otherwise identical economies, different cultural-institutional conventions can persist over long periods. Transitions between cultural-institutional conventions occur as a result of decentralized and un-coordinated contractual or behavioral innovations by firms or workers. In a two-good/two- factor/two-country trade model, we then show that: (i) because goods differ in the kinds of contracts and preferences that are appropriate for their production, cultural-institutional differences support differing competitive prices in autarchy, and so provide the basis for specialization and comparative advantage; (ii) the resulting gains from trade raise the cost of deviations from the prevailing culture and institutions and, as a result, trade will impede transitions to the superior convention; and (iii) by contrast, by reducing the cost of innovating, international mobility of factors of production facilitates convergence to superior cultural-institutional conventions. Our model thus provides a possible unified resolution of the anomalies concerning patterns of specialization and trade, and cultural-institutional persistence.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116808018","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}

引用次数: 86

Japanese Management Techniques to Enhance the Governance of Greek Small and Medium-Sized Firms 日本管理技术提升希腊中小企业治理

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-07-01 DOI: 10.2139/ssrn.2137196

E. Yacuzzi

{"title":"Japanese Management Techniques to Enhance the Governance of Greek Small and Medium-Sized Firms","authors":"E. Yacuzzi","doi":"10.2139/ssrn.2137196","DOIUrl":"https://doi.org/10.2139/ssrn.2137196","url":null,"abstract":"Given the economic and social crisis Greece is going through, it seems clear that the Greek future over the next few years will rest on macroeconomic actions, both national and international. This undeniable assertion notwithstanding, I do maintain that the Greek private sector has an important role to play in overcoming the present crisis. This especially applies to Greek small and medium-sized enterprises (SMEs), which comprise an important proportion of Greek firms. The use of adequate SME governance tools at Greek companies might be beneficial. Good governance leads to a better relationship among stakeholders, increases the effectiveness of board work and activates unknown potential at the firm through better principles and practices. Some Japanese tools that enhance governance as could be applied to Greek SMEs and smaller state organizations are presented. In general, SMEs, with fewer relative resources, face important conceptual and methodological difficulties when implementing a governance structure. This assertion is also true in Greece. Over the past three or four decades, however, Japanese management techniques that can be applied to implement and consolidate SME governance have gained diffusion all over the world. These tools are particularly apt for Greek SMEs, due to their flexibility, low cost, and rapid effectiveness. Specific examples of applications to enhance governance at Greek SMEs are provided. Tools applied are (1) A new SME governance indicator; (2) Hoshin management; and (3) Effective meeting technology. The three tools interact in a systemic mode.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"304 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115160094","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}

引用次数: 1

Prevention and Resolution of Foreign Exchange Crises in East Asia 东亚地区外汇危机的预防与解决

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-06-27 DOI: 10.2139/SSRN.2094180

C. Sussangkarn

引用次数: 4

Quantifying Nation Equity with Sales Data: A Structural Approach 用销售数据量化国家股权:一种结构方法

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-06-17 DOI: 10.2139/ssrn.2085509

Junhong Chu

引用次数: 24

Financial Constraints and International Trade Patterns 金融约束与国际贸易格局

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-06-14 DOI: 10.2139/ssrn.2084211

Turkmen Goksel

引用次数: 15

Banking for the Public Good 银行业为公共利益服务

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-06-14 DOI: 10.2139/ssrn.2084149

A. Mullineux

{"title":"Banking for the Public Good","authors":"A. Mullineux","doi":"10.2139/ssrn.2084149","DOIUrl":"https://doi.org/10.2139/ssrn.2084149","url":null,"abstract":"Bank shareholders cannot be expected to provide good stewardship to banks because there is a conflict of interests between the shareholder owners and a non-mutually owned bank's depositors; who provide the bulk of the funds in traditional retail banks and are willing to accept a lower return on their savings than shareholders, in return for lower risk exposure. Regulation is required to protect depositors where deposit insurance schemes are at best partially funded and underwritten by taxpayers, who in turn need to be protected, and to deliver financial stability, a public good. Once some banks become ‘too big (to be allowed) to fail’ (TBTF), they enjoy additional implicit public (taxpayer) insurance that enables them to fund themselves more cheaply than smaller banks, which gives them a competitive advantage. The political influence of big banks in the US and the UK is such that they can be regarded as financial oligarchies that have hitherto successfully blocked far reaching structural reform in the wake of the ‘Global Financial Crisis’ and lobbied successfully for the financial sector liberalisation that preceded it. The TBTF problem and associated moral hazard have been worsened by mergers to save failing banks during the crisis and as a result competition within a number of national banking systems, notably the UK, has been significantly reduced. Solutions alternative to making the banks small enough to be allowed to fail are considered in this paper, but it is difficult to be convinced that they will deliver banks that promote the common or public good. It is argued that regulating retail banking as a utility and pooling insurance against financial instability using pre-funded deposit insurance schemes, with risk related premiums that can also serve as bank resolution funds, should be pursued; and that capital leverage ratios and/or Financial Activity Taxes might be used to ‘tax’ the size of banks.","PeriodicalId":420844,"journal":{"name":"INTL: Economic & Financial Issues (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124027870","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}

引用次数: 23

Factor Model Forecasts of Exchange Rates Revisited 再论汇率的因素模型预测

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-06-03 DOI: 10.2139/ssrn.2073823

Jyh‐Lin Wu, Yi-Chiuan Wang

引用次数: 4

Equity Returns and Business Cycles in Small Open Economies 小型开放经济体的股权回报与商业周期

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-06-01 DOI: 10.2139/ssrn.1927637

Mohammad R. Jahan-Parvar, Xuan Liu, P. Rothman

引用次数: 20

Do the Use of Proceeds Disclosure and Bank Characteristics Affect Bank Underwriters’ Certification Roles? 收益披露和银行特征的使用是否影响银行承销商的认证角色?

INTL: Economic & Financial Issues (Topic) Pub Date : 2012-05-29 DOI: 10.2139/ssrn.2075481

Katsushi Suzuki, Kazuo Yamada

引用次数: 7