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Articles 1 - 30 of 209

Full-Text Articles in Political Economy

European Banking Union D: Cross-Border Resolution—Dexia Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick Nov 2019

European Banking Union D: Cross-Border Resolution—Dexia Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In September 2008, Dexia Group, SA, the world’s largest provider of public finance, experienced a sudden liquidity crisis. In response, the governments of Belgium, France, and Luxembourg provided the company a capital infusion and credit support. In February 2010, the company adopted a European Union (EU)-approved restructuring plan that required it to scale back its businesses and cease proprietary trading. In June 2011, Dexia withdrew from the government-sponsored credit support program before its expiration date, and in July, the company announced that it had passed an EU stress test. However, just three months later, Dexia wrote down its ...


European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick Nov 2019

European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In August 2007, Fortis Group, Belgium’s largest bank, acquired the Dutch operations of ABN AMRO, becoming the fifth largest bank in Europe. Despite its size and its significant operations in the Benelux countries, Fortis struggled to integrate ABN AMRO. Fortis’s situation worsened with the crash of the US subprime market, which impacted its subprime mortgage portfolio. By July 2008, Fortis’s CEO had stepped down, its stock had lost 70% of its value, and it was on the verge of collapse due to a severe liquidity crisis. The governments of Belgium, Luxembourg, and the Netherlands quickly came together ...


European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick Nov 2019

European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

The options available to European governments to respond to a multinational bank in financial trouble have been severely limited since each country has its own unique laws and authority applicable to banks operating within its borders. The Bank Recovery & Resolution Directive (BRRD), which was adopted in 2013 and scheduled to go into effect January 2015, harmonizes rules across EU countries for how to restructure and resolve failing banks. However, the directive would maintain the existing system of individual national resolution authorities and resolution funds. To better secure the Eurozone banks and to compliment the Single Supervisory Mechanism, which was enacted ...


European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick Nov 2019

European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in January 2011, the European Banking Authority (EBA) has been developing a “Single Rulebook” that will harmonize banking rules across the EU countries. In June 2012, European leaders went even further, committing to a banking union that would better coordinate supervision of banks in the then 18-country Eurozone. A ...


European Central Bank Tools And Policy Actions B: Asset Purchase Programs, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick Nov 2019

European Central Bank Tools And Policy Actions B: Asset Purchase Programs, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) used standard and non-standard monetary policies as the global financial markets progressed from initial turmoil to a widespread sovereign debt crisis. This case describes the key features of the ECB’s asset purchase programs throughout the Global Financial Crisis and subsequent European sovereign debt crisis. These programs include the Covered Bond Purchase Programs (CBPP1, CBPP2, CBPP3), Securities Markets Program (SMP), Outright Monetary Transactions (OMT), Asset-backed Securities Purchase Program (ABSPP) and the Public Sector Purchase Program (PSPP).

In combating the crises, the ECB designed various innovative programs which it successively employed as ...


European Central Bank Monetary Policy Operations During The Crisis A: Open Market Operations, Collateral Expansion And Standing Facilities, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick Nov 2019

European Central Bank Monetary Policy Operations During The Crisis A: Open Market Operations, Collateral Expansion And Standing Facilities, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) responded to market turmoil with a variety of standard and non-standard monetary policy tools. This case discusses the operational framework of the ECB’s open market operation tools and standing facilities before and during the financial crisis. Specifically, this case describes the ECB’s use of its main refinancing and longer-term refinancing operations, the expansion of collateral eligible for use in Eurosystem credit operations, and the ECB’s standing facilities, including its marginal lending and deposit facilities.


Ireland And Iceland In Crisis D: Similarities And Differences, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick Nov 2019

Ireland And Iceland In Crisis D: Similarities And Differences, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

On September 29, 2008—two weeks after the collapse of Lehman Brothers—the government of Ireland took the bold step of guaranteeing almost all liabilities of the country’s major banks. The total amount guaranteed by the government was more than double Ireland’s gross domestic product, but none of the banks were immediately nationalized. The Icelandic banking system also collapsed in 2008, just one week after the Irish government issued its comprehensive guarantee. In contrast to the Irish response, the Icelandic government did not guarantee all bank debt. Instead, the Icelandic government controversially split each of the three major ...


Ireland And Iceland In Crisis A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen Anna Clara Braun-Munzinger, Andrew Metrick Nov 2019

Ireland And Iceland In Crisis A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen Anna Clara Braun-Munzinger, Andrew Metrick

Journal of Financial Crises

Ireland went from being the poorest member of the European Economic Community in 1973 to enjoying the second highest per-capita income among European countries by 2007. Healthy growth in the 1990s eventually gave way to a concentrated boom in property-related lending in the 2000s. The growth in the aggregate loan balances of Ireland’s six major banks greatly exceeded the growth in gross domestic product (GDP); as a result, bank loan balances grew from 1.1 times GDP in 2000 to over 2.0 times GDP by 2007. Given the small size of the domestic retail depositor base, the Irish ...


Corporations, Associations And The State: The International Subsidy System For Film, Michael S. Wartenbe Oct 2019

Corporations, Associations And The State: The International Subsidy System For Film, Michael S. Wartenbe

Class, Race and Corporate Power

Rather than increasing competition in the market and decreasing government spending, neoliberalism has driven states to compete by appealing to transnational corporations. Direct subsidization to attract investment has become one of the most egregious normalization of this process, and Hollywood and the film industry have become some of the most active participants to this system. Indeed to have a functioning film industry, government subsidies are essential, commonly paying out up to a third of the production costs. Per employee these are some of the highest subsidy rates of any industry, and with most of the world participating, they offer little ...


An Addiction To Capitalism: A Rhetorical Criticism Of Mainstream Environmentalism, Jake Engel Sep 2019

An Addiction To Capitalism: A Rhetorical Criticism Of Mainstream Environmentalism, Jake Engel

IdeaFest: Interdisciplinary Journal of Creative Works and Research from Humboldt State University

No abstract provided.


The Origins Of The Jones Act Of Puerto Rico, Stephanie Mercedes Sep 2019

The Origins Of The Jones Act Of Puerto Rico, Stephanie Mercedes

All Dissertations, Theses, and Capstone Projects

After the Spanish-American War that ended in 1898, Puerto Rico was given to the United States by Spain as a war booty, becoming a US colony. The first law ever created by the United States to control Puerto Rico was the Foraker Act (also known as the Organic Act of 1900). This established a civilian government in Puerto Rico. It also extended the federal government rulings to the island. After its creation, the Puerto Rican population began to wonder what their political status was since nothing was concretized until the Jones Act was signed. The Merchant Marine Act of 1920 ...


Europe's (Lack Of) Welfare Chauvinism: Evidence From Surveys And Spending, Ethan Davis Aug 2019

Europe's (Lack Of) Welfare Chauvinism: Evidence From Surveys And Spending, Ethan Davis

Claremont-UC Undergraduate Research Conference on the European Union

Immigration’s effect on European welfare states is complicated. On one hand, increased immigration might undermine social solidarity and impose greater fiscal burdens on redistribution, reducing support for welfare spending. On the other, natives could respond to greater globalization with economic anxiety, increasing support for redistribution in order to mitigate risk. Welfare chauvinism predicts a mixed effect—increased spending for programs that middle-class natives use and reduced spending for programs that benefit immigrants disproportionately. I test this theory by analyzing (1) European attitudes towards immigration and welfare spending and (2) actual spending on these programs, particularly social housing. Additionally, I ...


The Finch Effect: Evolutionary Metaphors And Illiberal Democracy In Central And Eastern Europe, Abigail Woodfield Aug 2019

The Finch Effect: Evolutionary Metaphors And Illiberal Democracy In Central And Eastern Europe, Abigail Woodfield

Claremont-UC Undergraduate Research Conference on the European Union

In recent years, several states in Central and Eastern Europe have seen democratic digression. Such illiberal resurgences came as a surprise to the many political scientists who assumed that the future of these states was democratic. Indeed, after the fall of the Soviet Union, the world largely regarded liberal democracy as the predominant system of government. The future seemed bright, and it was tempting to understand that future in evolutionary terms—just as humans evolved under natural selection to become the dominant species, democracy had survived a similar competition and defeated all other systems of government to become the dominant ...


The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter Jul 2019

The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter

Pursuit - The Journal of Undergraduate Research at the University of Tennessee

The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted ...


At The Hands Of Fate: The Political Economy Of Islamic Insurance In Indonesia, Malaysia, And Pakistan, C. 1980 To The Present, Muhammad S. Rahman Jul 2019

At The Hands Of Fate: The Political Economy Of Islamic Insurance In Indonesia, Malaysia, And Pakistan, C. 1980 To The Present, Muhammad S. Rahman

Graduate Program in International Studies Theses & Dissertations

Why have Islamic insurance systems developed well in some countries, but not in others? Malaysia is considered as Islamic insurance elite due to its relatively large number of operators it houses as well as the sustained growth of Islamic insurance sales within the country, while Indonesia and Pakistan are still in early stages of development. Analyzing the political and social history of Islamization of insurance systems in these three Muslim majority countries in Asia since 1980s, this dissertation demonstrates the development gap between these countries on Islamic insurance results from; firstly, complex bargains made between various groups within each country ...


Disruptive Innovation: The Rise Of The Knowledge-Sharing Market In China, Yaqing Lan Apr 2019

Disruptive Innovation: The Rise Of The Knowledge-Sharing Market In China, Yaqing Lan

International Studies Honors Projects

Innovation is a major subject of international political economy, but mainstream discussions focus on scientific research and development and detach innovation development from their social contexts. In response to this view, this project reveals the importance of cultural and social factors in influencing innovation development by examining the rise of the knowledge-sharing market (KSM) -- a social-network-site-based economy in China. It suggests the KSM is a disruptive innovation not only because it is pioneered by a latecomer in the global innovation market, China, but also because its emergence from the changing Chinese consumer demands disrupts the mainstream thinking of innovation.


The Wealth Of Nations And The Advancement Of Collective Security, Kerry Daniel Good Apr 2019

The Wealth Of Nations And The Advancement Of Collective Security, Kerry Daniel Good

Senior Honors Theses

This thesis will address the economic development of countries from the strategic perspective of the United States, and consider how this development will progress overlaid in the context of the Chinese framework for the projection of national power. Using an inter-disciplinary approach, this research will synthesize sources on national security policy and economics, while seeking a Christian apologetic framework to answer these questions: How can the United States promote the economic development of countries in the Asia-Pacific region using a biblical economic-development model, as a part of its national strategy? This thesis focuses on some of the political and socio-economic ...


The Effect Of Foreign Aid On Political Violence: Learning From Case Studies Of Nigeria And Sierra Leone, Charlotte Rohrer Apr 2019

The Effect Of Foreign Aid On Political Violence: Learning From Case Studies Of Nigeria And Sierra Leone, Charlotte Rohrer

Politics Honors Papers

Policymakers in OECD countries regularly cite reducing political violence as a fundamental purpose of foreign aid. For example, countries such as Pakistan and Iraq have received considerable amounts of aid meant to address the root causes of political violence. This project analyzes quantitative and qualitative evidence to assess whether foreign aid can reduce political violence. The quantitative and qualitative analyses study Boko Haram in Nigeria and the Revolutionary United Front in Sierra Leone to focus on regional and country-wide political violence. The study further focuses on aid projects in Sierra Leone and Nigeria as a means to reduce or curb ...


Marxist Implementation Of Climate Change As A Geopolitical Fear Tactic, Katelyn Larossa Apr 2019

Marxist Implementation Of Climate Change As A Geopolitical Fear Tactic, Katelyn Larossa

Senior Honors Theses

In recent years the climate change debate has shifted from the peripheries of international political discussions to center stage, manifesting in the Paris Agreement in November of 2016 under the United Nations Framework Convention on Climate Change. However, the science behind the climate change debate is disputed and does not support the claims made by global leaders who continue to push for increasing environmental regulations and financial aid to those most adversely affected by the supposed climate change (underdeveloped and developing nations). Examining the geopolitical and economic implications of climate change actions reveals the underlying political philosophies guiding global leaders ...


Impact Of China's One Belt One Road Initiative At Different Geographical Scales, Yuxiang Hou Apr 2019

Impact Of China's One Belt One Road Initiative At Different Geographical Scales, Yuxiang Hou

Undergraduate Honors Theses

China’s One Belt One Road (OBOR), proposed in 2013, is an ambitious initiative that aims at enhancing connectivity and integrating economies across countries. This thesis, by tracing its mechanism at three different geographical scales---global, national, and local, analyzes its multidimensional impact at each scale. It shows that at a global scale, OBOR is in the form of competing narratives over its global impact and nature; at a national scale, OBOR is represented as economic corridors, aiming at improving infrastructures, increasing multilateral trade, integrating financial systems, and strengthening cultural ties; and at a local scale, OBOR exerts an impact on ...


Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray Feb 2019

Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.


Mass Atrocities And Their Prevention, Charles H. Anderton, Jurgen Brauer Jan 2019

Mass Atrocities And Their Prevention, Charles H. Anderton, Jurgen Brauer

Economics Department Working Papers

Counting conservatively, and ignoring physical injuries and mental trauma, data show about 100 million mass atrocity-related deaths since 1900. Occurring in war and in peacetime, and of enormous scale, severity, and brutality, they are geographically widespread, occur with surprising frequency, and can be long-lasting in their adverse effects on economic and human development, wellbeing, and wealth. As such, they are a major economic concern. This article synthesizes very diverse and widely dispersed theoretical and empirical literatures, addressing two gaps: a “mass atrocities gap” in the economics literature and an “economics gap” in mass atrocities scholarship. Our goals are, first, for ...


Russian Climate Politics In 2019: Concessions And Trade Offs, Nikita O. Minin Jan 2019

Russian Climate Politics In 2019: Concessions And Trade Offs, Nikita O. Minin

Senior Projects Spring 2019

In the paper of this project the Russia’s political justifications for the signing of the Kyoto Protocol and the refusal to sign the Paris Accord are analyzed. Russia’s current adaptive strategies and trajectory towards creating a potentially devastating future for the planet are assessed in terms of their economic justifications. Overall this paper argues that the Paris Accord needs to be amended to be economically and politically fair for all signing countries. Currently Russia could lose GDP if they signed the accord, and this is presented as the primary reason for Russia’s refusal to sign. The thesis ...


Governing Chinese Engagement With The Hydrocarbon-Rich Countries; Examining Chinese Investment In The Hydrocarbon Sector Of Canada And Russia, Anastasia Ufimtseva Jan 2019

Governing Chinese Engagement With The Hydrocarbon-Rich Countries; Examining Chinese Investment In The Hydrocarbon Sector Of Canada And Russia, Anastasia Ufimtseva

Theses and Dissertations (Comprehensive)

China’s global quest for energy has been one of the most fascinating developments of the past twenty years. As Chinese state-owned enterprises (SOEs) have increasingly gone ‘global’ in search of energy resources, scholars have explored the rationale and implications of China’s investment abroad. However, existing studies have yet to examine the ability of Chinese SOEs to complete the intended investment projects. Several studies that have noted this gap suggest that researchers should examine the ability of Chinese SOEs to adapt to different institutional environments (Smith and D’Arcy 2013) and to analyze the responses of local stakeholders to ...


Eyes On The Money: How Realist Economic Policy Facilitates The Modern Surveillance State In The Usa And The Prc, Benjamin Warder Dec 2018

Eyes On The Money: How Realist Economic Policy Facilitates The Modern Surveillance State In The Usa And The Prc, Benjamin Warder

Channels: Where Disciplines Meet

This paper examines the manner in which the United States of America and the People’s Republic of China, as the world’s leading economic superpowers, pursue a generally realist international relations approach to maintaining and securing their bases of economic power, and how this purpose translates into the development and proliferation of Closed Circuit Television (CCTV) camera networks in major cities as a means of protecting those cities as economic hubs crucial to the national economy. Two research questions guide the paper. First, how does each state demonstrate realist policies in the process of securing economic centers and the ...


The Spirit Is Willing, But The Flesh Is Weak: Contemporary Pan-Africanism And The Challenges To A United States Of Africa, Adesola Adeyemo Dec 2018

The Spirit Is Willing, But The Flesh Is Weak: Contemporary Pan-Africanism And The Challenges To A United States Of Africa, Adesola Adeyemo

Master's Theses

Establishing a ‘United States of Africa’ to the average individual is deemed as a mythical idea in contemporary Africa, irrespective of the popularity of this idea several years ago. Today, the idea is idealized as overambitious – considering the balkanized state of the continent post-colonialization. Because of this, attempts made since then have favored enforcing regional integration over continental integration. Undeniably, this idea would not have come into being if it wasn’t for the concept of Pan-Africanism - which has for long guided the political and socio-economic policies created on the continent. The goal of this research is to explore the ...


Strategic Puzzle In The South China Sea: Perception, Power, And Money. Chinese Plans For Hegemony?, Robert Kelly Stewart Nov 2018

Strategic Puzzle In The South China Sea: Perception, Power, And Money. Chinese Plans For Hegemony?, Robert Kelly Stewart

International Political Economy Theses

The South China Sea is home to one of the world’s most contentious territorial disputes. Sovereignty of overlapping parts of the Sea is contested by seven littoral states, and the United States maintains an influential naval presence. Rich in fish and hydrocarbons and militarily valuable for power projection, the South China Sea is strategically important. One-third of global trade passes through the South China Sea annually. This paper looks to uncover what the South China Sea conflict indicates about Chinese strategic outlook and approaches the topic through three theoretical lenses: constructivism, realism, and disaggregation. This paper concludes with an ...


Chinese Government’S Inability To Use Film – One Of The Most Powerful Cultural Tools Of Soft Power Expansion – To Achieve Its Soft Power Expansion Goals: Lessons For China To Tackle Its Soft Power-Deficit Problem, Kyungin Kim Nov 2018

Chinese Government’S Inability To Use Film – One Of The Most Powerful Cultural Tools Of Soft Power Expansion – To Achieve Its Soft Power Expansion Goals: Lessons For China To Tackle Its Soft Power-Deficit Problem, Kyungin Kim

International Political Economy Theses

Many scholars of Chinese soft power commonly believe that despite the fact that China has been working hard to achieve successful soft power expansion, one of the biggest factors that leads to Chinese soft power deficit or failure of the Chinese government to effectively trump “China threat” is its inability to use its cultural industries as a tool to fulfill its soft power expansion goals. This is a major obstacle to China in achieving its goal of successful Chinese soft power expansion, as it is said that culture is the most traditional and powerful source of soft power expansion. This ...


Anwar Ibrahim: Forgiveness, Character And Values Can Rescue Malaysia, Singapore Management University Sep 2018

Anwar Ibrahim: Forgiveness, Character And Values Can Rescue Malaysia, Singapore Management University

Perspectives@SMU

Anwar returned to the political fray for the country's youth despite the threat of imprisonment; they can rebuild the country with principles and tenacity of purpose


Resource Nationalism And Energy Integration In Latin America: The Paradox Of Populism, Brian Hollingsworth Jun 2018

Resource Nationalism And Energy Integration In Latin America: The Paradox Of Populism, Brian Hollingsworth

FIU Electronic Theses and Dissertations

This dissertation examines the relationship between resource nationalism and energy integration, and uses Bolivia and Brazil as a test case. Essentially, does resource nationalism affect energy integration? The findings nest within more expansive questions on international political economy and export-driven models of development. Why do populist regimes, historically operating under an economic nationalist cum protectionist paradigm, simultaneously pursue policies of economic integration? What is the relationship between resource nationalists and open markets, especially in the hydrocarbons sector? What is the relationship between populists, who are typically resource nationalists, and their decision to choose policies of energy integration?

The most common ...