Financial Power Research Articles

The National Communication Council: Opportunity or Constraint for Press Freedom and Freedom of Expression in Cameroon?

ABSTRACT This paper underlines the relevance of devising an effective legislative framework that sets out the organization of the National Communication Council (NCC), the main media regulator in Cameroon. It argues that the rules and procedures informing the functioning of the NCC should clearly affirm and protect its autonomy. The duties and powers as well as the ways of making the NCC accountable, the procedures for the appointment of its members and the sources of funding should be clearly defined in law. Equally relevant is the prevalence of a culture of independence, transparency and accountability, where lawmakers, government and the public respect the NCC’s independence without being explicitly required to do so by law. Drawing from a critical analysis of the law creating the NCC and complemented with an interview with the NCC chairman, I argue that independent media regulators (NCC) can have democratizing effects, but it can also limit the growth of press freedom, freedom of expression, opportunities for democratic engagement and the pivotal role that it is expected to play in creating a diverse and pluralistic media landscape. Also, public authorities should refrain from using their financial decision-making power to interfere with the independence of regulatory authorities.

Power, Control, and the Logic of Substitution in Institutional Design: The Case of International Climate Finance

AbstractHow do powerful states control international organizations (IOs)? In contrast to the conventional wisdom that treats weighted voting rules as the primary means that powerful states use to codify their asymmetric control in institutional design, we propose that funding rules are equally important. Our framework develops a logic of substitution whereby permissive earmark rules—that allow donors to stipulate how their contributions to an IO are used—are a design substitute for weighted voting from wealthy states’ perspective. Whether asymmetric control is incorporated in design through voting or funding rules depends on whether egalitarian norms emphasizing political and legal equality, or shareholder norms emphasizing influence commensurate with financial power, govern voting and representation rights at the IO. Focusing on the domain of climate finance, we demonstrate that weighted voting rules are used at international climate finance institutions (ICFIs) associated with multilateral development banks, but that wealthy states pursued permissive earmark rules at ICFIs within the United Nations system where egalitarian norms are strong. In this way, powerful donors can exert control over resource allocation even when developing states appear to hold equal influence on governing bodies. In addition to providing a reassessment of how power translates into control at IOs, our framework offers insight into forum-shopping behavior and sheds light on substitution dynamics that involve other dimensions of design across a range of issue areas.

Formulating Optimal Strategies for Engaging in Health Tourism Sector in Isfahan Province

This study aims to formulate optimal human resource strategies for engaging in health tourism in Isfahan. The expert population of study consists of the professors of Isfahan University and Isfahan University of Medical Sciences, managers of cultural heritage organisation, and administers of Isfahan hoteliers and tourism agencies. Strategic plans were formulated using SWOT matrix and space matrix. The indices of medical tourism locating were first extracted for four parts of SWOT matrix, i.e., strengths, weaknesses, threats and opportunities using Delphi technique. Then, SWOT matrix was developed based on which industry attractiveness, financial power, environment stability and competitive advantage were configured in space matrix. Then, the competitive situation was determined using fuzzy Delphi technique. Finally, human resource (HR) strategies were prioritised aligned with competitive strategies using QSPM.

Ottoman ruling elite in the sanjak of semendire during the eighteenth century

The Transitional period in the Ottoman Empire (17th-18th century) brought about changes in the organization of government that were felt deeply at the imperial periphery. The process of decentralization in the Ottoman Balkans was most prominent during the 18th century. Traditional roles of political and social agents in towns became ever more unstable and the shifts of ruling elites were ever more pronounced. The ruling, Muslim elite had gradually joined together by forming political alliances in order to gain influence and money. Political struggles became constant. Belonging to the elite through acquiring the status of asker - either by enlisting into janissaries or by getting a timar and the status of spahi - did not guarantee a political influence or wealth. The new elite got their positions thanks to the political connections with either local or central government. The financial power was a factor that mostly determined a person?s status in the 18th century, and it did not depend on the legitimacy of economic undertakings. The capital was accumulated through trade, tax farming and tax collecting. The close relations with the representatives of government secured path towards an elite status. The rise of the new local governing elite and the ways of its social and political promotion were not identical processes even in the neighboring provinces. The role of m?tesellim, voyvoda or kapudan, depended on the character of the Ottoman administration in the province (sanjak), which is why case studies contribute to the overall knowledge about the organization of Ottoman local authorities.

Preliminary Financial Modelling with Probabilistic Approach for Geothermal Development Project in Indonesia

The right of geothermal field concession in Indonesia is obtained by tender as per Law No. 21/2014 Article 18. In the submitted proposal, the developer candidates shall mention the plan of field development strategy, while available data is limited due to a preliminary survey or preliminary survey and exploration were just performed. Then the developer candidates must be able to formulate the financial condition of the project so that the field utilization not only sustains but also produces appropriate profits. This paper discussed some regulations which are related to the economics of geothermal development project in Indonesia and a simple example of financial modelling with a probabilistic approach using Microsoft Excel Monte Carlo simulation and analysis tool. The input data were some technical assumptions such as installed capacity, steam fraction, steam specific consumption (SSC), well’s capacity, well’s success ratio, and financial assumptions such as well’s price, power plant construction’s cost, operation and maintenance cost, and others. The output of modelling were NPV (Net Present Value), IRR (Internal Rate of Return) and parameters that were sensitive to both values, whether financially or technically. The result of simulation showed from the financial aspect, wells and power plant cost were the most sensitive parameters in IRR calculation, while well’s capacity and steam fraction were the most sensitive parameters from the technical aspect.

Arbitrage with Financial Constraints and Market Power

I study how financial constraints affect liquidity provision and welfare under different structures of the arbitrage industry. In competitive markets, financial constraints may impair arbitrageurs’ ability to provide liquidity, thereby reducing other investors’ welfare. Instead, in imperfectly competitive markets, I characterize situations in which imposing constraints on arbitrageurs leads to a Pareto improvement relative to a noconstraint case. Further, unlike the competitive case, a drop in arbitrage capital does not always lead to a reduction in market liquidity. A subtle interaction between financial constraints and arbitrageurs’ market power generates these Pareto improvment and novel comparative statics.

The ideology of 'Greater Kosovo' in the vision of Albanian narco-terrorist clans

The paper reviews the evolution of the ideology and the path of creating the Albanian state in the Balkans, from the moment when it did not exist at all (during the Ottoman Empire) until today, when Albanians live in an internationally recognized state (the Republic of Albania) and in one self-proclaimed state (the so-called "Republic of Kosovo"). In that regard, this paper is based on two theses. According to the first, the focus of the original so-called state-building ideology about the need for all Albanians to live in one state, "Greater Albania", today is radically changed and diametrically opposed: "Kosovo Albanians" now do not want to join the Republic of Albania, but want an independent state - the so-called "Greater Kosovo", which would include parts of the territories of central Serbia, Montenegro, Northern Macedonia and Greece where Albanians live. The reason for the essential change of ideology is that the drug bosses of Albanian criminal clans that control the territory of Kosmet, and who were previously commanders of Albanian terrorist organizations, want their own "drug state", in which they would control all social flows and enjoy immunity from criminal prosecution. The second thesis on which this paper is based is that the attack on the Albanian mafia is at the same time a blow to the so-called quasi-statehood of the so-called Republic of Kosovo, i.e. on the levers of financial power, which is the backing for political power and international support for the so-called Republic of Kosovo.

Can Brazil Become a Green Hydrogen Powerhouse?

This paper assesses the feasibility of green hydrogen production in Brazil. By green hydrogen, it is meant the hydrogen produced by the electrolysis of water by consuming electricity produced by renewable sources. The country has large areas with high solar irradiation and favorable wind velocities that help to make wind power and solar PV economical alternatives. Other factors include lower investments and lower grid integration cost with respect to global average, because of the large share of hydropower. As known, hydro plants respond well to the short-term variability of renewable production. Local regulations also incentivize renewable energy. For example, it is possible, according to market rules, for a hydrogen producer to sign a financial Power Purchase Agreement (PPA) contract with a producer or trader to secure a firm, renewable energy supply for the electrolysis process. This market-driven factor, and other key factors, such as low price of electricity, are considered in an economic feasibility model. Results from this model suggest that Brazil could become a green hydrogen powerhouse for the internal market and potential exports to Germany and other European countries.

The promises and perils of central bank digital currencies

This paper analyzes the proposal that central banks should issue digital currencies (CBDC) to provide a public alternative to private digital accounts and cryptocurrencies. We build on some recent themes in political economy research to give a broader and more balanced perspective than the existing literature, highlighting both the promises and perils of CBDC. We argue that, on the one hand, the present state of the private financial sector is problematic and regulators should seek to tackle the issues of financial power, financial instability and lack of adequate monetary policy options. On the other hand, implementing CBDC comes with risks of its own, such as that of creating a “Frankenstein scenario” where too much power is given to unelected technocrats. Our tentative conclusion is therefore that CBDC should be seen as a second-best option, while the primary focus of policy makers should be on the possibility of financial re-regulation.

Dividing ASEAN and Conquering the South China Sea: China’s Financial Power Projection, by Daniel C. O’Neill. Hong Kong: Hong Kong University Press, 2018. ix+261 pp. US$60.00 (cloth).

Previous articleNext article No AccessReviewsDividing ASEAN and Conquering the South China Sea: China’s Financial Power Projection, by Daniel C. O’Neill. Hong Kong: Hong Kong University Press, 2018. ix+261 pp. US$60.00 (cloth).Leszek BuszynskiLeszek BuszynskiAustralian National University Search for more articles by this author PDFPDF PLUSFull Text Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by The China Journal Volume 83January 2020 Published on behalf of the Australian Centre on China in the World at the Australian National University Article DOIhttps://doi.org/10.1086/706735 Views: 56Total views on this site For permission to reuse, please contact [email protected]PDF download Crossref reports no articles citing this article.

美国联邦及州以下政府事权与财权划分研究

美国联邦及州以下政府事权与财权划分研究

Knowledge, Power, and Academic Freedom by Joan Wallach Scott

Reviewed by: Knowledge, Power, and Academic Freedom by Joan Wallach Scott Dr. Shauntey James Joan Wallach Scott. Knowledge, Power, and Academic Freedom. New York: Columbia University Press, 2019. 184pp. Hardcover: $21.54. ISBN: 978-0232-19046-6 Knowledge, Power, and Academic Freedom by Joan Wallach Scott grapples in essay format with the topic of academic freedom. Unapologetic, Scott clearly articulates the various nuances surrounding the discussion of free inquiry. This is a timely, engrossing book that peels back the layers of the topic. The essays point out the "tensions, paradoxes and contradictions" in relation to academic freedom while challenging the reader to question feasibility of past, present, and future educational environment's inclusivity of free inquiry (p. 1). Scott explores academic freedom in the historical context of the definition of the term and in relationship to power, civility, and free speech within various social structures. The essays are also imbued with critical thinking directives that challenge the intellectual discourse concerning academic freedom. Scott opens the book and articulates how the debate of the definition of academic freedom returns "again and again to the founding documents of the principle, written in the heyday of the Progressive Era, the end of the nineteenth and the beginning of the twentieth centuries" (p. 1). This conceptual framework seems simplistic in theory. The historical backdrop of the book however makes the reader question whether a clear definition of the term academic freedom exists within the educational and societal environment, especially when multiple twists on the definition exist within the societal structure indicating different aspects to include and not include within a discussion. For example, Butler (2017) articulated academic freedom within her research study as giving "faculty rights of participation in the making of curricula and the governance of the university" (p. 857). This shifts slightly from the Progressive Era which may include the following: unreasonable interference, restrictions from law, public pressure and institutional regulations. Butler's (2017) definition serves a purpose for the research project, but also illustrates an arena which may be contrasted by various dynamics of the definition that should or should not be included within the overall discussion. These debatable aspects are the distinctive nature and keys that this book offers to the reader. The reader is initially charged with probing into which aspects should be included within the definition and the contradictions that exist surrounding the term. Deep truths about the debate of the definition of the term underlie the essays, which then leads readers to question the overall structure of the educational and societal environment. The readership's journey of inquiring about the ambiguity and lack of consistent conformity concerning the term academic freedom illustrates and highlights the subjectivity which can be used at various junctures by various constituents ranging from parents to administrators to advance their own personal agenda and marginalize certain academic non-conforming voices. The reader is challenged to ask why certain voices may be marginalized within the educational structure which could concern issues of marketability and maintaining an unblemished educational university environment (Phipps, 2017). The behavior could also be a result of leeway given to certain entities within the educational structure to determine parameters of inquiry (Graves, 2018). The book categorically challenges the reader to explore whether the current educational path is indicative of academic freedom or being constrained by certain interest groups. As articulated with the text, the interest group can range from the university board to lobbyist whose agenda is to influence public policy whether at the university or beyond in their favor. The author, however, does not indicate a malicious intent but does seek clarification for all parties associated within the academic arena to ensure that no voice is silenced within an environment positioned in theory to encourage educational growth. Educational growth is juxtaposed against the differential power structures ranging from power achieved by hierarchical positional status to financial power that exists within the educational and societal framework. Scott illustrates this point with the discussion of the power struggle and inconsistencies between the university and the state. Thus, not aligning with the established power agenda of that historical time period set by constituents ranging from the university to the state creates problems for...

The Rise of the US Federal Reserve as a World Monetary Authority: Revisiting the Volcker Shock

In the existing International Political Economy literature, the Volcker Shock has been widely regarded as historical significance in the development of international political economy. Three successive waves of IPE have evolved to highlight it respectively, as a subjugation of the US state to pressures of foreign states, to international financial power, and institutional configurations of US financial power. Without close attention to the particular role of the US Federal Reserve, however, these observations obscure the unprecedented process of a new mode of monetary governance. This paper argues that the Volcker Shock ushered in the rise of the US Federal Reserve as a world monetary authority in a way that the inner-making process of autonomous monetary policy became a new way of governing monetary and financial affairs. The Federal Reserve was able to pursue autonomous monetary policy far away from the economic management of the US government and at the same time to discipline banks in international financial markets. The Federal Reserve eventually established itself as a new kind of monetary authority between US government and international financial markets. This paper contributes to the study of international monetary power.

Entrepreneurial orientation of SMEs? executives in the comparative perspective for Czechia and Turkey

Research background: The executives of SMEs that have higher innovativeness, risk taking, proactiveness, competitive aggressiveness and autonomy dynamize the strategic posture of SMEs, thus, those firms can reach better financial and economic conditions. However, existence of many differences among countries, such as cultural values and market conditions, can cause variations in EO of these executives. Therefore, this fact can be one of the reasons why the performance and financial power of SMEs differ in various countries. 
 Purpose of the article: This study aspires to find out the differences in entrepreneurial orientation (EO) of younger and older, female and male, and more and less educated executives of SMEs from various countries.
 Methods: 1141 Czech and 479 Turkish executives were analyzed separately by the Mann-Whitney U test, to find out the differences in EO. The researcher ran the analyzes by SPSS Statistical Software.
 Findings & Value added: The results indicate that risk-taking and competitive aggressiveness of the executives differ regarding their gender, while innovativeness, proactiveness and autonomy do not. While there are significant differences between proactiveness, autonomy and innovativeness of older and younger executives, no differences exist in risk-taking and competitive aggressiveness. Regarding educational status, more educated executives perform better in innovativeness, proactiveness and autonomy, while less educated executives have higher propensities in risk taking and competitive aggressiveness. Masculinity, fear of failure, perception of obstacles, motivation of SMEs? executives and location of businesses might be the reasons of these results. By including the survey respondents from different countries and all dimensions of EO into the analyses, this study finds similarities and differences in gender, age and education levels and of SMEs? executives and their EO. This research also suggests some policies for governments and institutions to close the gap between EO of the executives. These facts not only make this research to unique, but also constitute a valuable addition to the literature.

Centring labour in financialization

ABSTRACTThis article draws on an engagement with Marx’s notes on money and finance to reconsider the relationships between labour, working classes, and financial accumulation. In recent years, these dynamics have often been understood through the lens of ‘financialization’ – referring to a trend towards the growing prominence of financial sector profits, logics, and power at the expense of productive activity. This lens has tended to produce analyses of labour and finance that are (1) unidirectional and (2) that often lump a wide range of developments under a single heading without considering how these trends might intersect in potentially contradictory ways. Marx offers a useful alternative insofar as his approach to money and finance centres on a continual and fraught dynamic between the ‘abstract’ social labour embodied in money and the ‘concrete’ labour performed in particular places at particular times. This argument is illustrated through brief vignettes from South Africa.

От Бразилии к России: направления стратегического партнерства стран-членов БРИКС

At the 11th BRICS summit in Brazil, Russian President Vladimir Putin pointed to such shared global priorities of the group as the compliance with international law, the central role of the United Nations in international affairs and the establishment of a more just global order. Five BRICS countries are concerned about negative trends in world economy and politics – the slowdown in global economic growth and trade, uncontrolled debt growth, surges in commodity prices, US attempts to obtain unilateral advantages through sanctions and protectionist measures and to infringe on the interests of other states. The BRICS five, based on their increased economic, financial and trade power, are looking for solutions to these negative developments, including through the building of alternative international economic institutions. The association is increasingly becoming a political reality of global scale.

Financial freedom, market power and bank margins in sub-Saharan Africa

PurposeThis paper examines the effect of financial (banking) freedom and market power on bank net interest margins (NIM).Design/methodology/approachThe study uses data from 11 sub-Saharan African countries over the period, 2006-2012, and the system generalized method of moments to assess how financial freedom affects the relationship between market power and bank NIM.FindingsThe authors find that both financial freedom and market power have positive relationships with bank NIM. However, there is some indication that the impact of market power on bank margins is sensitive to the level of financial freedom prevailing in an economy. It appears that as competition intensifies, margins of banks in freer countries are likely to reduce faster than those in areas with more restrictions.Practical implicationsCompetition policies could be guided by the insight on how financial freedom moderates the effect of market power on bank margins.Originality/valueThis study provides new empirical evidence on how the level of financial freedom affects bank margins and the market power-bank margins relationship.

Towards a Political Economy of Charging Regimes: Fines, Fees and Force in Uk Immigration Control

AbstractCharging regimes and the extraction of revenue are integral components of immigration control in the United Kingdom. However, while these have been analysed in their individual guises, to date, there has been little substantive analysis bringing these regimes together and locating them at the centre of its enquiry. Drawing on data obtained through the Freedom of Information Act 2000, this paper consequently examines the functions of charging regimes as a distinct form of statecraft, focussing its attention on UK Visas and Immigration fees and charges, carrier sanctions, charges related to accessing services and civil penalties administered though immigration enforcement. Analysing their historical roots and their contemporary prevalence, it suggests that they contribute to the political economy of financial power, which has significant implications for understandings of criminalization and immigration enforcement.

From history to strategy: Jacob Viner’s “Power versus Plenty” (1948) in international context

ABSTRACT The standard interpretation of Jacob Viner’s seminal essay on mercantilism, ‘Power versus Plenty’ (1948), locates it within a prolonged discussion over economic theory, historiography, and policy that originated from the late nineteenth century. Challenging this temporal context conventionally assumed, this article argues that Viner’s historical study is best understood in close relation with his preoccupations in the 1940s: U.S. grand strategy. Specifically, it examines the interplay of historiographical and foreign policy discourses in the 1940s by tracing the trajectory of Viner’s intellectual enterprise from history to strategy of economic statecraft. By surveying the forgotten origins of ‘Power versus Plenty’ in the years between 1944 and 1946, it shows that Viner’s rationale in writing the essay went beyond his scholarly interest in the past. His ultimate aim was to support the new interventionist argument that power politics was indispensable to realise the liberal internationalist vision of world order. In fact, Viner made active use of history not only to shape the strategic vision of U.S. foreign policy, but also police the boundaries of realistic foreign policy. This allowed him to discredit the socialist internationalist critique against the Truman Doctrine and to put financial power at the crux of U.S. grand strategy.

Mergers And Acquisitions: An Interface To Economic Development

Economic development is a wide aspect which gradually is one of the sole motives of any country. There are numerous ways by which they try to achieve this goal and become a powerful country among all other nations. Financial power is one such power which keeps any nation on its toes to make any powerful decisions, at any time of the day. In order to achieve such goals one of the initiative is through the corporate sectors. Corporate sectors are the one which provides higher job opportunities, chance to work and research in this field and many others. Economy of our nation is directly proportional to the sectors it deals with, so if the corporate sector grows it can act as an interface for the economic development of our nation. Now, practically corporate sector develops in two ways one is internally, i.e. by making profit or by raising their share capital. And the other one is by getting combined with other company and working together as one single entity. This combination can be termed as mergers or acquisitions, which acts as one of the major catalyst for the economic growth of our nation worldwide.