International Economics Commons^™

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

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 the …

European Central Bank Tools And Policy Actions 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 A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen 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 banks increasingly funded …

Plastic Bags And Bamboo Stools, Grace R. Bithell

Marriott Student Review

This paper conducts a critical analyses of microfinance institutions. It gives an overview of the complexities of credit in developing countries and shows how microfinance fits into the equations. It discussed the successes and failures of microenterprises in trying to alleviate poverty. It also delves into best practices pertaining to lending to the poor and how microfinance is impacted by culture in developing nations.

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 neoliberal structural …

How Two Sunken Ships Caused A War: The Legal And Cultural Battle Between Great Britain, Canada, And The Inuit Over The Franklin Expedition Shipwrecks, Christina Labarge

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Venezuela Undermines Gold Miner Crystallex's Attempts To Recover On Its Icsid Award, Sam Wesson

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

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.

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 overall protection …

Can A Global Fund Help Solve The Global Marine Plastic Debris Problem?, Karen Raubenheimer, Alistair Mcilgorm

Journal of Ocean and Coastal Economics

The problem of marine plastic debris impacts all of the world’s oceans and requires all nations to respond. However, developing States require funds to improve waste management infrastructure and services in order to reduce marine debris at source. Plastics manufacturers and retailers globally must be incentivised to design products for the environment as well as for the collection and end-of-life treatment facilities available within the intended markets. Given the oceans are a global common, we investigate the option of developing a global fund mechanism to progress the necessary actions to reduce plastic waste entering the world’s oceans. This requires consideration …

Indigenous Knowledge And The Development Debate In Africa, Fidelis Ewane, Samson Ajagbe

International Journal of African Development

This research employs Bourdieu’s theory of habitus to explain the disposition of the donor community to integrate indigenous knowledge systems and practices into development projects. The theory’s objectivist perspective specifies the mechanism that links structural conditioning to social practice and regularities. It holds that power is culturally and symbolically created, and it is constantly re-legitimized through the interplay of agency and structure. This facilitates an analysis of the development field as social space characterized by indigenous and donor power relations. It argues that the reinforcement of indigenous knowledge as the main channel for development will generate transferable local capacities and …

On The Efficacy Of Sanctions: Why Regimes And Motives Matter, Colette Faulkner

Global Tides

This paper seeks to explain not only the reasons and motivations behind why countries choose to use sanctions as a tool of foreign policy but also interrogates the efficacy of sanctions. Sanctions are a mechanism that countries generally use against another country in order to get a response. Sanctions can be used as either tools of economic coercion or as symbols of disapproval. With regards to the efficacy of sanctions extracting political concessions, sanctions are generally succeeding with more democratic regimes and fail with more autocratic regimes. As a symbolic tool sanctions often succeed at increasing the reputation of the …

Antinomies Of Globalization, Yahya Mete Madra

Markets, Globalization & Development Review

The defining antinomy of the post-2008 crash phase is argued to be the one between neoliberalism and populism. This essay aims to complicate the terms of this antinomy and offers a reading that problematizes the association of neoliberalism with internationalism and globalization on the one hand and populism with nationalism and anti-imperialism on the other. Not only internationalism in its historical origins is an anti-imperialist concept but also today we can easily discern how reactionary forms of populist nationalisms are made possible by globalization of finance—a hallmark of neoliberalism. The essay concludes with a discussion of the possibility of …

Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande

Undergraduate Economic Review

This essay aims to analyse the classification of unilateral transfers under the current account at Bretton Woods despite significant opposition from larger delegations of major Allied powers, bringing to the forefront the global liquidity of remittances in the post-War years permitted by their fully currency convertible nature. Using the example of the Indian State of Kerala, this paper charts the relevance of their sustained uninterrupted flow to their subsequent exponential growth in the last three decades, using the case study as a pivot to argue for better policy measures that maximise their multiplier effect.

Corporate Responsibility In Peace Building, Conflict Prevention And Development: The Role Of The Mining Sector In Ghana, Abdul Karim Issifu

Journal of Interdisciplinary Conflict Science

This article seeks to explore the role of the mining sector in peace building, conflict prevention and community development in Ghana. After thoroughly reviewing secondary data, including articles, books, journals, newspapers, etc., via critical document review and qualitative research approaches the research found that, there is no legal document on CSR in Ghana, yet mining companies in a free will, have executed CSR programs laying down for peace, security and development in the country. More so, this article provides a theoretical support for the Integrative theory of CSR on the basis that, the socio-economic, political, cultural and environmental needs of …

Fish Landings At The World’S Commercial Fishing Ports, Tim Huntington, Fiona Nimmo, Graeme Macfadyen

Journal of Ocean and Coastal Economics

In 2009, the United Nations Food and Agriculture Organization (FAO) adopted the Agreement on Port State Measures to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated (IUU) fishing (PSMA). Countries that ratify the treaty commit to exert greater control at ports over foreign-flagged vessels to detect IUU catch before it is offloaded from vessels, and prevent the ill-gotten catch from entering the world’s markets. The PSMA, when effectively implemented globally, will be a major deterrent to IUU fishing. A major challenge to selecting ports for enhanced controls has been the lack of data on which ports are the world’s largest …

Peaceful Settlement Of Disputes In The South China Sea Through Fisheries Resources Cooperation And Management, Kuan-Hsiung Wang

Maryland Series in Contemporary Asian Studies

The South China Sea dispute is complicated in terms of its nature, the sovereignty issues of the islands, delimitation issues, resources utilization as well as other matters concerning security (both traditional and non-traditional). In order to solve the dispute, cooperation is one of the main considerations. However, the practice has not been realized.

In order to solve the dispute and promote cooperation in the South China Sea region, the author suggests that conserving and managing fishery resources could be established as a starting point. There are a great number of management means, institutions, and international instruments (such as conventions, treaties …

The Globalization Of Human Rights In Post-Genocide Rwanda, Sadara Shine

Bridges: A Journal of Student Research

In the past two decades, Rwanda has been through major changes, from a conflict-ridden society with deep divisions between the two main ethnic groups–Hutus and Tutsis–to a case of impressive economic growth. Despite the progress, deep divisions and human rights issues exist. To avoid the recurrence of any conflict, both state and non-state actors are playing varied roles in a post-genocide Rwanda. Based on both primary and secondary sources, this article argues that in an era of globalization and postgenocide in Rwanda, non-state actors like international non-governmental organizations have the most impact in the preservation of human rights. So, in …

European Integration And Anti-Money Laundering Cooperation, Allison Blauvelt

Claremont-UC Undergraduate Research Conference on the European Union

This paper compares European Union anti-money laundering (AML) efforts with international efforts in scope and intensity through an analysis of the timeline of AML cooperation in Europe from 1980 to 2012, showing the creation or adoption date for relevant organizations and legislation, referred to as actions. The actors include United Nations bodies, the Financial Action Task Force, the Council of Europe, and European Union bodies. This paper also comments on the utility of different European Union (EU) integration theories in explaining the patterns in cooperation. The key finding of this paper is that international AML cooperation operates in waves, with …

Delayed Complementarity: How Schengen Area Membership Influenced German And Austrian Investment In Central And Eastern Europe, Romy L. Franks

Claremont-UC Undergraduate Research Conference on the European Union

This paper considers the mutually beneficial relationship of German and Austrian foreign direct investment (FDI) in Central and Eastern Europe (CEE) between 2004 and 2007, and the impact that the CEE states' belated membership in the Schengen Area had on further economic integration. It analyzes how excluding CEE member states from immediate membership in the Schengen Area upon their accession to the EU in 2004 and 2007 affected the economies of Germany, Austria, and the CEE member states. The paper argues that, in reviewing actual FDI and migration numbers following EU enlargements, fears over the potentially negative effects of labor …

The Political Hindrances In Solving The European Sovereign Debt Crisis, C. Cole Fairbanks

Claremont-UC Undergraduate Research Conference on the European Union

Once revered as a progressive supranational success story, the European Union now faces excessive public debt, unemployment, and stagnation partly due to its flawed institutional design. This has become apparent in southern Eurozone countries like Portugal and Greece, which continue to suffer from strict austerity measures imposed by the International Monetary Fund, European Commission, and European Central Bank (Troika). This report examines the politics behind the European Sovereign Debt Crisis, including the rise of Eurosceptic populist parties. Furthermore, it analyzes austerity in southern Europe, the ‘moral hazard’ argument, and the German government’s reluctance to lead Europe out the crisis. This …

No Light At The End Of The Tunnel: Ideological And Systematic Causes Of Spain's Economic Paralysis, Taylor S. Shippen

Claremont-UC Undergraduate Research Conference on the European Union

Since 2008, Spain’s economy has suffered from an unemployment crisis. In response, voters elevated the Partido Popular (PP) to power in 2011 after becoming frustrated with the Partido Socialista Obrero Español’s (PSOE) lack of effective action. However, since the election of 2011, very little has changed in Spain’s stagnant economy. Unemployment remains high despite initially promising reforms in Spain’s labor market and a bailout for Spain’s larger banks in 2012 has done little to bring foreign investment back into the country. In this paper, I contend that the PP’s timid response to the unemployment crisis is the result of a …

The Economic Crisis And Esdp: Friends Or Foes?, Amelia Adams

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

A Generation Of Isolation: Cuban Political Economic Policies, Elba Marcell Rivera Rodriguez

The Hilltop Review

Cuba is not only the largest island in the Greater Antilles, but also the only communist island in the Caribbean. This country has been governed by the Marxist-Leninist ideology for more than fifty years. Although the Cuban economy has not shown significant development since January 1, 1959, i.e. when the Revolutionaries came to power, it is presenting a new economic capacity-the tourism industry, which could drive the nation to a modern economic growth.

This article has been revised by the author. The revised version is available as a supplement at the link below.

Strong Euro Weakening Dollar: A Potential Economic Demise, Guadalupe F. Garcia

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Eu's Common Foreign Policies Towards Russia: Past, Present And Future, Yigit Canay

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Icy/Hot: Norwegian And Finnish Policy Toward The European Union, Mia Bennett

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Theorizing The Odds: The European Union, Online Gambling Regulation And Integration Theory, Alexis Spencer-Notabartolo

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Economic And Monetary Union: A Study Of Domestic Influence In The European Union From 1989-1993, Jason Grishkoff

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.