1,721,202 research outputs found
Scaling Up Sustainable Finance and Investment in the Global South: Introduction
Full text linkCreating economically and politically legitimate solutions to tackle climate change is one of the most pressing and challenging issues of our time. For emerging and developing economies, the task is made more difficult due to a lack of financing, increasing debt accumulation and the need to address domestic socio-economic issues. This eBook provides a comprehensive overview of the financing gap that emerging and developing countries face to meet the Sustainable Development Goals and Paris climate goals. It provides detailed country- and region-level analysis of the challenges and opportunities of scaling up sustainable finance and investment and discusses the range of instruments that could be used to reach these climate and development objectives
Le « partage de la charge » : de la théorie à la pratique
No full textBurden Sharing : from Theory to Practice.
The handling of cross-border banks in difficulties gives rise to coordination problems between home and host countries. Goodhart and Schoenmaker (2006, 2009) have suggested to implement an ex ante burden sharing mechanism to overcome the co-ordination failure of national authorities. While burden sharing is technically not very difficult, it requires political cooperation between sovereign nations. The financial crisis has provided some spectacular examples of coordination failure : the failures of Fortis, Lehman Brothers and the Icelandic banks illustrate how much damage the absence of an adequate cross-border framework can do to the stability of the global banking system. In the aftermath of the financial crisis, some burden sharing agreements are now being put in place.
Classification JEL : F50, F53.Le traitement des banques internationales en difficulté crée des problèmes de coordination entre pays d’origine et pays d’accueil. Goodhart et Schoenmaker (2006, 2009) ont proposé de mettre en oeuvre un mécanisme de partage de la charge ex ante afin de surmonter l’échec de la coordination entre autorités nationales. Si le partage de la charge ne présente pas de grande difficulté sur le plan technique, il exige en revanche une coopération politique entre nations souveraines. La crise financière a fourni quelques exemples spectaculaires d’échecs de la coordination : les défaillances de Fortis, de Lehman Brothers et des banques islandaises illustrent l’importance des dommages qui peuvent résulter de l’absence d’un dispositif international approprié pour la stabilité du système bancaire mondial. Quelques accords de partage de la charge sont actuellement mis en place, dans le sillage de la crise financière.
Classification JEL : F50, F53.Schoenmaker Dirk. Le « partage de la charge » : de la théorie à la pratique. In: Revue d'économie financière, n°100, 2010. Le risque systémique 1. Repenser la finance. pp. 163-185
Cross-border banking in Europe: implications for financial stability and macro-prudential policies
No full textUnderstanding the role of banks in cross-border finance has become an urgent priority
after the recent crisis where they played a central role. This report argues that policy
reforms in micro- and macro-prudential regulation and macroeconomic policies are
needed for Europe to reap the important diversification and efficiency benefits from
cross-border banking, while reducing the risks stemming from large cross-border banks.
Cross-border banks have played a central role in the dynamics of the global crisis of
2007-2009. This report argues, however, that multinational banks have been the face,
but not necessarily the cause of the crisis and neither have they exacerbated it. In
Western Europe, it was rather regulatory failure to deal with large cross-border banks
in an efficient way that deepened the crisis, while there is increasing evidence that in
the central and eastern European countries foreign banks helped mitigate the impact
of the crisis rather than exacerbated it.
This report argues that the benefits of cross-border banking are likely to outweigh
any potential stability costs. Regulators should therefore focus on encouraging forms
of cross-border banking that are both balanced and not excessive to avoid undue
risk concentrations and dependencies, both on the country-level and the EU-level. In
addition, macro-prudential and monetary and fiscal policies have to be adjusted to
take into account the repercussions of cross-border banking for asset price and credit
booms, currency and maturity mismatches and contagion. Sensible macroeconomic
policy making is no longer possible without explicitly taking into account the feedback
loop with the financial system.
This report takes the view that the efficiency gains of a common European Banking
Market outweigh the costs and policies should therefore be adjusted to reap these
gains while reducing the risks stemming from cross-border banking. Among the
recommendations are (i) the introduction of macro-prudential regulations at the
national level, but monitored on the European level, (ii) introduction of risk weights
for sovereign debt and a bankruptcy regime as part of the European policy framework,
(iii) the elimination of tax deductibility of debt to reduce the incentives towards high
leverage in banking, (iv) compatible bank resolution frameworks with contingent
capital on the national level, and (v) a European-level deposit insurance scheme and
a bank-group level resolution framework with ex-ante burden sharing agreements for
large cross-border banks
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
The role of central banks and supervisors in scaling up sustainable finance and investment in the Global South
No full textSystemic Risk and Interconnectedness: The Market Perception of Regulatory Measures of Interconnectedness
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