Search results for "crisis"
showing 10 items of 860 documents
The distributional effects of capital account liberalization
2018
Abstract Episodes of account liberalization increase the Gini measure of inequality, based on panel data estimates for 149 countries from 1970 to 2010. These episodes are also associated with a persistent increase in the share of income going to the top. We investigate three channels through which these impacts could occur. First, the impact of liberalization on inequality is stronger where credit markets lack depth and financial inclusion is low; positive impacts of liberalization on poverty rates also vanish when financial inclusion is low. Second, the impact on inequality is also stronger when liberalization is followed by a financial crisis. Third, liberalization seems to alter the rela…
COMPLIANCE AND THE RECOVERY OF FINANCIAL SERVICES OF THE EUROPEAN UNION: NEW CHALLENGES FOR LATVIA’S BANKING SECTOR
2012
Determinants of international banking failures have been widely discussed and summarized. A combination of global and systemic complexity of products that fails down on correct managing of the banking risk systems; consumers who are eager for credits and regulators who are unable to spot the potential global inter-relationships – consequently have led to the failures. As a response to the financial crisis the European Commission has been working actively to complete a comprehensive financial reform to address poor risk management, lack of responsibility and to correct the underlying weaknesses in the supervisory and regulatory framework. The regulatory development is substantially increasin…
The Great Financial Crisis in Finland and Sweden: The Dynamics of Boom, Bust and Recovery 1985–2000
2009
This paper explores the anatomy of the boom, deep depression and recovery in the Finnish and Swedish economies in the period 1985-2000. These fifteen years are divided into three phases: (1) financial liberalization and the boom and the overheating of 1985-90, (2) the outbreak and spread of the crisis to all sectors of the economy in 1990-92, and (3) the recovery 1993-2000. Each period is analyzed separately.
The Effects of the Financial Crisis on the Organizational Reputation of Banks: An Empirical Analysis of Newspaper Articles
2018
The recent financial crisis has triggered an intense debate about the role of banks in society, presumably changing the criteria used in the evaluation of organizations. Against this backdrop, we investigate the changing role of banks’ organizational features in shaping different dimensions of banks’ organizational reputation. Using the media as an important evaluator, we measure the reputational dimension of visibility based on the frequency of newspaper articles and the reputational dimension of favorability based on the sentiment of newspaper articles. Drawing on social judgment research for developing our hypotheses, we expect that organizational features such as financial performance a…
The Global Crisis and Alternative Scenarios to Save the Euro: A Spanish Perspective
2013
That the euro was in trouble became evident after the financial markets' turmoil the summer of 2007. The global financial crisis called into question some of the dogma propounded by the champions of liberal capitalism, such as the efficiency of financial markets. Whereas in the US several banks went bankrupt, in the EU the banking sector was recapitalised, and fiscal measures were taken to support companies and families, and to stimulate the economy; moreover, an institutional framework was set up to improve financial regulation and supervision. The banking and financial crisis was followed, as usual, by a debt crisis. In 2010–11, successive European Summits accelerated the creation of fina…
The impact of the financial crisis on financial integration, growth and investment
2012
Financial crises, and in particular those of the past few years, have severe consequences for the affected economies. In this paper we analyse the impact of financial development and European financial integration on growth and we find no reversal of the growth benefits of financial development and integration in recent years. This highlights the economic cost of regulatory changes that would reverse European financial integration. We also find that, following a financial crisis, investment declines more in countries with a greater degree of uncertainty aversion, which can be informative for evaluating post-crisis economic performance.
Spatial and sectoral effects on firm entry and exit. Evidence from Italy.
2012
Between Usefulness and Legitimacy
2012
We argue that during the financial crisis, economic news served as a dominant source of information for the public and as an influential factor in legitimating economic policy. We analyze (1) how German news broadcasts treated governmental intervention during the crisis and (2) selected effects on public opinion. Drawing on results from a content analysis of television news broadcasts ( n = 980), we show that governmental intervention was covered substantially, focusing on fiscal measures. To investigate possible effects of the news coverage, we conducted an online experiment with subjects differing in their degree of involvement with the consequences of the crisis ( n = 293). A news artic…
Il ruolo del Consiglio costituzionale francese nella definizione del nuovo stato di emergenza sanitaria
2020
The aim of this paper is to share some observations on the role of the French Constitutional Court in the management of the health emergency caused by Sars-CoV-19. Particularly, to examine the Decision n. 799-2020, in which the Court ruled on the constitutional conformity of the organic law 30 March 2020, which declared the suspension of deadlines to transmit and decide on the priority issue of constitutionality (QPC). With the subsequent Decision n. 800-2020 the Constitutional Court ruled on the legitimacy of the law which extended the state of emergency until the 10th of July. Both Decisions offer insights into the relationship between the Constitutional Court as well as the protection of…