International Journal of Global Community (Riksawan Institute - IJGC-RI)
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Resurgence of employment growth in the European Union:The role of cycles and labour market reforms
No full textBy estimating dynamic sector labour demand model for Europe and the US we show that lower levels of job protection lead to faster employment adjustment. As result, labour market deregulation in Europe might have made employment growth more cyclical. (c) 2005 Elsevier B.V. All rights reserved.</p
Transparency and accountability of central banks in their role of financial stability supervisor in OECD countries
No full textWe aim to get a better understanding of the accountability of central banks in their role of financial stability supervisors, distinguishing between three crucial elements: (1) the legal basis for the financial stability task, (2) providing of information on financial stability, and (3) the formal relationship between the accountable and the accountee. We conclude that in most OECD countries the law does not provide a clear objective for financial stability supervisors. Many central banks nowadays publish a stand-alone financial stability report. In most countries there are hardly any accountability measures in place regarding the objective of financial stability
Market-oriented institutions and policies and economic growth:A critical survey
No full textThis paper surveys recent evidence suggesting that market-oriented institutions and policies are strongly related to economic growth, focusing on studies using the economic freedom (EF) indicator of the Fraser Institute. This index is critically discussed. Also various serious shortcomings of empirical studies using this index are identified. Nevertheless, there are strong indications that liberalization, i.e. an increase in the EF index, stimulates economic growth. This paper also reviews studies on the determinants of EF. Political liberalization is often found to enhance economic liberalization, whereas there is less evidence for causality running in the other direction.</p
The paradox of isomorphic changes and strategic differentiation in Turkish banking
No full textThe study involves historic and comparative analysis of firm and industry level change processes in Turkish banking industry and the implications of these for organisational isomorphism and strategic differentiation. It draws on institutional, resource dependence, and ecological perspectives in organisation theory, enhancing these with explanations based on structuration and co-evolution
Financial liberalization in Vietnam:Impact on loans from informal, formal, and semi-formal providers
No full textSince 1986, Vietnam has gone through a process of economic reforms - a so-called 'doimoi', which included the liberalization of the financial sector. The most profound financial sector reform came in 1995, when commercial banks were allowed to freely set deposit rates to enhance competition in raising funds. This paper commences with an overview of the Vietnamese financial sector and a survey of the main reforms to this sector implemented since the late 1980s. A descriptive analysis is then provided, which compares some key characteristics of pre- and post-financial reform borrowing and savings activities using the Vietnam Living Standard Surveys of 1992/93 and 1997/98. The paper then provides an econometric analysis of the determinants of loans from different types of lenders, examining the extent to which this was affected by the financial reforms.</p
