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Full-Text Articles in Business
Labor Struggles, New Social Movements, And America's Favorite Pastime: New York Workers Take On New Era Cap Company, Victoria Carty
Labor Struggles, New Social Movements, And America's Favorite Pastime: New York Workers Take On New Era Cap Company, Victoria Carty
Sociology Faculty Articles and Research
Contemporary economic globalization, which is driven and regulated primarily by multinational corporations, has a direct impact on workers' lives. Trade agreements such as the North American Free Trade Agreement (NAFTA) tend to be controlled by corporate interests in the wealthy, industrialized nations. Those countries set the agenda to protect the interests of foreign investors and facilitate the mobility of capital, but they do little to protect the interests of labor. In response, workers in both the global North and South have been forced to rely on their own individual efforts to protect themselves against unfair labor practices. This article presents …
Outsourcing Central Banking: Lessons From Estonia, Sarkis Joseph Khoury, Clas Wihlborg
Outsourcing Central Banking: Lessons From Estonia, Sarkis Joseph Khoury, Clas Wihlborg
Business Faculty Articles and Research
An orthodox currency board (CB) renders central banking redundant for interest and exchange rate determination. Thereby, monetary policy is de facto outsourced. Foreign direct investment (FDI) in banking can lead to outsourcing of the second important central bank function, responsibility for banking supervision. Economic and political conditions for outsourcing of central banking are discussed. Estonia's experience with a CB and expanding foreign involvement in banking is reviewed. The Argentine CB experience is discussed briefly to provide a contrast. The conclusion outlines the conditions for successful currency outsourcing to another country or regional authority.