Assets In Countries Research Articles

سیاست‌جنایی تقنینی افغانستان در برابر جرایم مالی کارکنان دولت با تأکید به اقدامات پیشگیرانه در سطح قانون‌گذاری و نهادهای رسمی

Criminal policy comprises a set of approaches through which responsible institutions respond to criminal phenomena to safeguard social order. Legislative criminal policy is one of the pillars of criminal policy and refers to the thought or response of a country's legislature to criminal phenomena. In legislative criminal policy, laws must be coherent, clear, and specific, preventing judges from interpreting legal texts differently. Inadequate laws lead to increased misunderstandings and judicial innovations. Agents and employees of the government represent a significant portion of a country's national assets. Their selection and employment as government agents and employees require passing through several stages, demonstrating their importance and competency. A significant portion of a country's assets is entrusted to government employees. Easy and direct access to vast amounts of information, confidential documents, government and non-government properties, as well as possessing executive power, may pose serious threats to government assets and individuals, providing government employees with the groundwork for committing crimes. Preventive measures are a proactive response to criminal phenomena that can be effective in deterring criminal activities before they occur. The question of the article is dedicated to exploring the impact of preventive measures on reducing crimes. The hypothesis consists of responses and proactive mechanisms that lead to a decrease in opportunities and contexts for committing crimes. The research method is defined as descriptive-analytical and library-based.

Combining Tradition and Modernism in Contemporary Afghan Women Painting

Afghan contemporary women painters relying on the foundations of modernism and the legacy of visual tradition have found a great presence in contemporary art in this country. In this regard, these painters have created artworks in political and social contexts, women's issues, portraiture, inanimate nature, and figures. The question is how Afghan contemporary women's painters have used the rich country's assets in their contemporary painting? And what are their attitudes to this old treasure? This paper provides results using a descriptive-analytical method and using the library and archive resources. First, not only the attitude towards the past and the visual capital of painting, both for men and Afghan contemporary women's painters, are not reactionary, but it is also wealth for their contemporary works; it has been promoted visually. It was also found that the functions of painting in the works of these female painters can be seen in the application of elements such as colour (coordination), golden colour, divergence or use frame failure by plant images, the combination of plant designs, geometric, illumination or divination, and Calligraphy with painting, as well as the combination of naturalist painting with plant designs, as well as combining elements such as Simorgh, Islamic architectural designs, or flowers and chicken with oil paintings. It was also found that two types of socio-political approaches to expressing women's concerns and issues and paying attention to painting to revitalize the heritage of this land have attracted the most attention of the Afghan contemporary women painters.

The Funcitonalization of in Absentia Court as a Form of Corruption Crime’s Asset Recovery

Examination of corruption cases in the absence of the defendant at trial still has many obstacles. The elucidation of Law Number 31 of 1999 as amended in Law Number 20 of 2001 concerning eradicating criminal acts of corruption, especially in Article 38, provides an opening for the judiciary in absentia as an orientation to save state assets. What is the importance of the judiciary in absentia as an effort to recover assets, how is the implementation of justice in absentia to recover assets? What is the basis for the judges' legal considerations on the implementation of the trial? Then this study uses a normative research method with a normative juridical approach, while this type of research is descriptive. Based on the discussion in the study that the importance of the in absentia judiciary as an effort to recover assets carried out by the defendant legally and appropriately summoned to eradicate the crime of corruption and recover state losses can still be implemented, the assets and all assets of the defendant based on the verdict are proven to be related to corruption. A criminal act of corruption can then be executed. The implementation of the judiciary in absentia is an effort to recover assets through a legal process by taking into account the defendant's rights. The judiciary without the presence of the defendant is guided by Law Number 31 of 1999 as amended in Law Number 20 of 2001 concerning the eradication of criminal acts of corruption in Article 38 paragraph (1). The basis for the Judge's legal considerations regarding the trial examination in the defendant's absence is to ensure legal certainty so that the prosecutor as the executor can save the country's assets with considerations of exceptionality, return, and rescue of state assets.

Inclusive wealth with total factor productivity: global sustainability measurement

Non-technical abstractWealth commonly refers to the measure of the value of all assets or capital owned by an individual, community, company or nation. Sustainable development requires that the per capita productive base or comprehensive wealth of an economy should at least not decline over a period of time. We present here a comprehensive assessment of cross-country productivity over a study period of 1990–2010 for 140 countries. We used the concept of inclusive wealth introduced by the United Nations to assess the social value, rather than dollar price, of all each country's assets, including produced, human and natural capital.

A Game Theoretic Model for the Optimal Location of Integrated Air Defense System Missile Batteries

We examine the optimal location of Integrated Air Defense System IADS missile batteries to protect a country's assets, formulated as a Defender-Attacker-Defender three-stage sequential, perfect inf...

Learning in International Markets and a Rational Expectation Approach to the Contagion Puzzle

I develop a general equilibrium model in which agents from two countries do not observe directly the long-run growth prospects of their economies. Instead, the agents rationally learn the hidden components through the Kalman filter applied to international consumption data. Learning endogenously produces: (i) a rational explanation of international contagion phenomenon, defined as changes in one country's asset prices in response to foreign news, that occurs in the absence of domestic news, (ii) large and time-varying international equity risk premia, and (iii) a resolution of the forward premium anomaly, defined as the tendency of high interest rate currencies to appreciate.

Management Insights

Management Insights

Could Capital Gains Smooth a Current Account Rebalancing?

A narrowing of the U.S. current account deficit through exchange rate movements is likely to entail a substantial depreciation of the dollar, as stressed in research by Obstfeld and Rogoff. We assess how the adjustment is affected by the high degree of financial integration in the world economy. A growing body of research emphasizes the increasing leverage in international financial positions, with industrialized economies holding substantial and growing financial claims on each other. Exchange rate movements then lead to valuation effects as the currency composition of a country's assets and liabilities are not matched. In particular, a dollar depreciation generates valuation gains for the United States by boosting the dollar value of much of its foreign-currency-denominated assets. We consider an adjustment scenario in which the U.S. net external debt is held constant. The key finding is that as the current account moves into balance, the pace of adjustment is smooth. Intuitively, the valuation gains from the depreciation of the dollar allow the United States to finance ongoing, albeit shrinking, current account deficits. We find that the smooth pattern of adjustment is robust to alternative scenarios, although the ultimate movements in exchange rates will vary under different conditions.

Policing Political Protest When Politics Go Global: Comparing Public Order Policing in Canada and Bolivia

This article compares series of political protest events in Bolivia and Canada using the “Flashpoints model” as the framework of comparison. It provides a detailed account of events leading up to the ouster by popular protest of Bolivian President Gonzalo Sánchez de Lozada in October of 2003. The article situates the events of 2003 by reference to specific features of Bolivia's positioning in the global system; notably the effects of International Monetary Fund policies, international drug prohibition, and the consequences of economic liberalization for management of the country's assets. It also pays special attention to the affects of police development aid on the Bolivian police system. A summary narrative about a series of anti-globalization protests in Canada, based on existing academic accounts, is provided as the basis for comparative analysis. The comparison is used to test an hypothesis that currently holds sway in the literature concerning public order policing that suggests a trend away from “escalated force” towards “negotiated management”. While the evidence regarding the policing of political protest in Bolivia and Canada does not reveal a conspicuous convergence in policing tactics for crowd control between the two countries, the plausibility of this hypothesis is severely tested in each case. The evidence reviewed here suggests the opposite and is revealing of the undemocratic character of policing in the emerging global system. The article ends by calling for more comparative research on this topic, especially in non-OECD countries and places that are more peripheral to the global system.

Exchange Rate Credibility, the Agency Cost of Capital and Devaluation

When a country abandons a fixed, or target zone exchange regime it usually claims that the regime was fundamentally sound but that it was undermined by pernicious speculation. The validity of the claim is impossible to assess using only observable data-there always exists a future path of current account surpluses that would make the regime sound, and speculators' (investors'?) motives are unobservable. This paper analyzes the crucial role of imperfect credibility in a currency crisis with a stochastic dynamic rational expectations regime switch model. The exchange regime is sound, e.g., a currency board--the only market failure is that the Central Bank cannot make a credible commitment to maintain the regime. The paper has two innovations: (1) It specifies the cost of imperfect credibility, and (2) It quantifies the cost of imperfect credibility. Imperfect credibility generates small (but costly) average interest rate differentials. Imperfect credibility cannot generate large interest differentials, but a surprisingly small fundamental currency overvaluation added to the basic specification generates large interest rate differentials. The paper's main result--that a lack of credibility cannot generate large interest rate differentials in a sound regime--is robust. The model in the paper is stylized, but the results are rich. The policy maker (Central Bank) and investors optimize. Investors fear devaluation and the Bank cannot make a credible commitment to allay their fears. Investors demand an agency currency premium. There is no pernicious speculation--the premium fairly prices the country's assets but it increases the country's cost of capital. The Bank abandons the regime when the expected present value of the agency cost of capital outweighs the expected present value of the benefit from remaining in the regime. The model generates multiple rational expectations equilibria and a variety of patterns linking the exchange rate to the interest rate differential. I parameterized the model using estimates of the exchange rate process for Hong Kong. The model generated agency currency premiums average 1/2%. The model generated interest rate differentials are consistent with the interest differentials in Hong Kong before the Asian financial crisis in July of 1997. After July 1997 a lack of credibility is not sufficient to explain the observed interest rate differentials of 4-6%.

Fiscal policy, wealth divergence, and lifetime utility

Using a two-country dynamic optimization model where the less patient country decumulates and the more patient one accumulates wealth, we analyze spillover effects of lump-sum and consumption taxes. A lump-sum tax on a country definitely harms the other country through a change in the rate of interest. A lump-sum tax on either country always improves the less patient country's asset position. A consumption tax has no spillover effect, although it is Pareto-inferior. Applying these results into a closed-country context with heterogeneous agents, we also discuss policy implications of a discriminatory tax.

MEDIO AMBIENTE Y DESARROLLO ¿Un Puente Demasiado Lejos?

It tries to provide a global vision of how the environmental issue is being handled by the government and businessmen of Peru, as well as to warn about the consequences that the current trend can bring for the development of the country. It maintains that, although the Environmental Code was promulgated, its scope was moderated shortly afterwards through other legal instruments aimed at promoting investment. In the same way, it is affirmed that the creation of a rector, the National Environment Council, will not be a guarantee for the solution of environmental problems either. On the other hand, the very little importance that Peruvian managers give to the preservation of the environment in comparison with those of other countries stands out. Finally, it is affirmed that in order to care the natural heritage, it is necessary to become aware of the complementarity between development and the environment, and that, in the face of this situation, the State is obliged to promote clean technologies that ensure the exploitation of the country's assets and, at the same time, help to preserve them, so that future generations can take advantage of them.

ASSET PRICING WITH IN‐ AND OUTFLOW CONSTRAINTS: THEORY AND EMPIRICAL EVIDENCE FROM SWEDEN

The paper analyzes asset pricing and portfolio choice when domestic investors collectively cannot hold foreign assets beyond a maximum value. We add the constraint that foreign investors cannot hold more than a fraction of the shares of domestic assets. Consistent with Swedish stock market data, both domestic and foreign investors pay premiums for investing in the other country's assets. Some empirical observations are inconsistent with the CAPM framework.

THE IMPOSSIBILITY OF GLOBAL ABSOLUTE ADVANTAGE INT HE HECKSCHER-OHLIN MODEL OF TRADE

IN THE present note we draw attention to a neglected property of the standard Heckscher-Ohlin model of international trade. Consider a free-trading world composed of just two countries, a: and , each capable of producing two tradeable consumption goods under constant returns to scale, with the ownership of each country's assets equally shared by all residents of that country, and with uniform homothetic preferences in each country. Suppose that /3 enjoys a uniform proportionate expansion of its net production set. Then the bystander a is necessarily better off in the new world equilibrium, if the latter is unique.1 Suppose now that a is advanced, /3 backward in the sense that, in each

ILLITERACY

In times of resource scarcity, libraries and librarians have a natural tendency to turn their attention to economic issues and away from social issues. But some social issues—like literacy—are also economic issues. Illiteracy continues to drain the country's assets, diverting the financial resources needed to support other domestic education programs, including those emanating from libraries.

A Test of Perfect Substitutability in the Foreign Exchange Market

I. Motivations for the Test The question of whether or not domestic bonds are perfect substitutes for foreign bonds in investors' portfolios, implying that the expected rates of returns must be equalized across currencies, is an important one for two reasons. The question is crucial, first, for choosing among various models of exchange rate determination and, second, for evaluating tests of efficiency in the forward exchange market. To illuminate the first motivation, a brief discussion of models of exchange rate determination is necessary. All asset-market models share the assumption that there are no significant transactions costs, capital controls, or other impediments to the international flow of capital. Thus actual portfolios adjust instantaneously to equal desired portfolios. This implies, for example, covered interest parity: the domestic interest rate should differ from the foreign interest rate by an amount exactly equal to the forward discount rate. Perfect substitutability between domestic and foreign bonds is the stronger assumption that market participants are indifferent as to the currency composition of their portfolio. It implies uncovered interest parity: the domestic interest rate must differ from the foreign interest rate by an amount exactly equal to the expected rate of depreciation. The perfect substitutability assumption is far from standard. In fact, exchange rate models within the view can be classified into those that belong to the monetary defined by the assumption of perfect substitutability, and those that belong to the defined by the assumption of imperfect substitutability. In the portfolio-balance approach, investors hold well-defined proportions of their wealth in the form of each country's assets, with the proportions depending on the expected rates of return, as in equation (1):