Business Commons^™

Policy Frameworks And Citizens’ Use Of Fintech Solutions: The Pros And Cons In Egypt, Salma Al-Mohamady

Theses and Dissertations

This thesis provides a comprehensive analysis of the significant influence of financial technology (FinTech) on the banking industry, consumer finance, and economic growth. It specifically concentrates on the swiftly changing FinTech environment in Egypt. The study investigates the impact of incorporating advanced technologies on worldwide financial practices, which has significantly transformed traditional banking models and facilitated the emergence of inventive financial services. The transition is clearly apparent in Egypt, where the expansion of FinTech has been driven by advances in regulations, adaptation to technology, and a population that is becoming more comfortable with digital solutions.

Using a combination of quantitative …

Comparison Of Open Sharing Modes Of Foreign Large-Scale Scientific Facilities And Implications For China, Dacheng Song, Shuai Xiao, Tianming Li, Ke Wen, Dingyi You, Chen Zhang, Qiang Wei, Runtong Guo

Bulletin of Chinese Academy of Sciences (Chinese Version)

The open sharing of large-scale scientific facilities plays a pivotal role in the ecosystem of open science. This is of great significance for promoting the development of science and technology, enhancing innovation cooperation, and boosting the overall competitive strength of nations. Starting from two dimensions of resource scarcity and sustainability, this study systematically sorts out four open sharing modes of large-scale scientific facilities: the public and inclusive sharing mode, the market response sharing mode, the intensive guarantee sharing mode, and the Strategic Cooperation Sharing Mode. Through the comparison analysis of four foreign large-scale scientific facilities, the study further elaborates the …

Containerization Of Seafarers In The International Shipping Industry: Contemporary Seamanship, Maritime Social Infrastructures, And Mobility Politics Of Global Logistics, Liang Wu

Dissertations, Theses, and Capstone Projects

This dissertation discusses the mobility politics of container shipping and argues that technological development, political-economic order, and social infrastructure co-produce one another. Containerization, the use of standardized containers to carry cargo across modes of transportation that is said to have revolutionized and globalized international trade since the late 1950s, has served to expand and extend the power of international coalitions of states and corporations to control the movements of commodities (shipments) and labor (seafarers). The advent and development of containerization was driven by a sociotechnical imaginary and international social contract of seamless shipping and cargo flows. In practice, this liberal, …

Congressional Briefing: Support America’S Circular Economy By Upcycling Bourbon & Brewing Wastes In Reauthorizing The Farm Bill, Samuel Kessler

Commonwealth Policy Papers

Following state level development of a new spent grain incentive system, leading to KY House Bill 627 in 2022, CPC’s Congressional Summit dialogue considered initial components and possibilities for designing an incentive to upcycle “keystone” organic wastes in regional economies across the US. For member offices, a set of general recommendations are provided for a national spent-grain upcycling incentive pilot program. It is suggested that staff of the Bourbon caucus consult with the references in this briefing and USDA Rural Development to consider further development of an incentive program in the reauthorization of the Farm Bill.

It is further urged …

The Impact Of Internal And External Influences On Federal Procurement Specialists, Jonathan Page

Electronic Theses and Dissertations

Federal procurement specialists have a unique and powerful role in how the United States government spends money. The purpose of this study was to gain an understanding of the impact internal and external influences have on the decision-making process of federal procurement specialists. A mixed-methods research study was conducted using an electronic survey questionnaire to collect quantitative data and video interviews to collect qualitative data. The sample included individuals who held a Federal Acquisitions Certification in Contracting and worked for non-Department of Defense federal agencies. The quantitative findings found that internal and external influences impact federal procurement specialists, but the …

Road Maintenance Challenges: The Greatest Obstacle To Sustainable Development In South Sudan, Gai Chol Paul

Journal of Sustainable Social Change

Road infrastructure plays a crucial role in the sustainable development of any nation. It connects communities, facilitates trade, and enables essential service delivery. However, road maintenance is one of the most significant challenges hindering sustainable development in South Sudan. The poor roads hinder economic growth, access to essential services, and social cohesion and are in dire need of repair and upkeep. Thus, I developed this qualitative multiple-case study to explore challenges that hinder road maintenance in South Sudan. I collected data through document review and semi-structured interviews with four road engineers, and then thematically analyzed the gathered data. Three themes …

The Role Of U.S. Government Regulatioms, Bert Chapman

Libraries Faculty and Staff Presentations

Provides detailed coverage of information resources on U.S. Government information resources for federal regulations. Features historical background on these regulations, details on the Federal Register and Code of Federal Regulations, includes information on individuals can participate in the federal regulatory process by commenting on proposed agency regulations via https://regulations.gov/, describes the role of presidential executive orders, refers to recent and upcoming U.S. Supreme Court cases involving federal regulations, and describes current congressional legislation seeking to give Congress greater involvement in the federal regulatory process.

Competing For Innovation: A Case Study Of Knoxville And Similar Metropolitan Areas, Lucille G. Marret

Baker Scholar Projects

Knoxville competes with other mid-sized metropolitan areas for economic development and business attraction at the national level. Cities such as Greenville, SC, Huntsville, AL, and Ann Arbor, MI have similar resources and attributes to Knoxville, yet they are consistently surpassing Knoxville in business attraction and expansion. It is necessary for policy makers to understand what factors are contributing to underperformance in order to better support Knoxville’s efforts to create an innovation fund. Comparing available assets and access to funding for each MSA reveals that Knoxville has the necessary resources through the University of Tennessee and Oak Ridge National Laboratory to …

Congressional Oversight Of U.S. Government Programs, Bert Chapman

Libraries Faculty and Staff Presentations

Provides detailed overview of how the U.S. Congress conducts oversight of federal agency programs. Contents include a letter from a member of Congress to an agency head concerning an environmental development in Indiana, information on the foundations of congressional oversight, details on how Congress may require agency reports on various subjects in public laws, an example of a congressionally mandated report by the Department of Defense, documentation of congressional funding of individual federal agencies, examples of congressional committee hearings, congressional committee issuance of oversight and investigative reports which may include dissenting opinions, Congressional Budget Office cost estimates on congressional committee …

Chatgpt As Metamorphosis Designer For The Future Of Artificial Intelligence (Ai): A Conceptual Investigation, Amarjit Kumar Singh (Library Assistant), Dr. Pankaj Mathur (Deputy Librarian)

Library Philosophy and Practice (e-journal)

Abstract

Purpose: The purpose of this research paper is to explore ChatGPT’s potential as an innovative designer tool for the future development of artificial intelligence. Specifically, this conceptual investigation aims to analyze ChatGPT’s capabilities as a tool for designing and developing near about human intelligent systems for futuristic used and developed in the field of Artificial Intelligence (AI). Also with the helps of this paper, researchers are analyzed the strengths and weaknesses of ChatGPT as a tool, and identify possible areas for improvement in its development and implementation. This investigation focused on the various features and functions of ChatGPT that …

Public-Private Partnership (P3) Success: Critical Success Factors For Local Government Services And Infrastructure Delivery, Antonio M. Lopez, George M. Marakas

Engaged Management ReView

The Public-Private Partnership (P3) approach is a viable option to address the slow growth and burgeoning need to deliver infrastructure projects and services by state and local governments. This study focuses on identifying critical success factors (CSF) that influence the success of P3s for local government service and infrastructure delivery. A framework is presented for integrating relationship and project management CSFs identified from previous literature into P3s. In addition, public agency entrepreneurial orientation is introduced as a potential CSF – a focus that has been absent in previous P3 CSF literature. To empirically assess the influence of these CSFs on …

How A Professional Describes Reasons For Working In And Ultimately Leaving The Foster Care Field In The State Of Missouri: A Case Study, Lauren Williams

MSU Graduate Theses

The foster care field continues to have a high turnover rate of the professionals working in the field. While support and work balance are available for some professionals, many face the challenges of heavy workloads, unrealistic expectations, and health sacrifices that lead to many professionals leaving the field. This case study of one former foster care professional’s description of reasons they worked in the field, and reasons they ultimately left the field provides insight of the challenges and support as a foster care professional. The findings of this study are organized into three major themes including “Challenges for Foster Care …

Lessons Learned: Kevin Stiroh, Mercedes Cardona

Journal of Financial Crises

Kevin Stiroh was head of the Financial Sector Analysis Supervision Group at the Federal Reserve Bank of New York (FRBNY) during the Global Financial Crisis of 2007–2009 (GFC). At the FRBNY, Stiroh was a leader in the design of the “stress test” for the banking system, the Supervisory Capital Assessment Program (SCAP). In the aftermath of the GFC, members of the FRBNY, including Stiroh, drafted a report on systemic risk and bank supervision, laying out lessons learned from the crisis and their recommendations. In February 2021, Stiroh transitioned from the FRBNY to a leadership position with the Federal Reserve Board …

Lessons Learned: Gaurav Vasisht, Sandra Ward

Journal of Financial Crises

Gaurav Vasisht served as assistant counsel, banking and financial services, to the governor of New York during the Global Financial Crisis of 2007–2009 (GFC). In his role, Vasisht set the governor’s agenda for banking and financial policy and oversaw the regulatory and legislative priorities of the state banking and insurance departments. Vasisht played a pivotal role in developing and drafting consumer protection legislation, particularly as it related to housing foreclosures at the time of the crisis. This Lessons Learned is based on an interview with Vasisht that occurred on September 27, 2019.

Lessons Learned: Veerathai Santiprabhob, Maryann Haggerty

Journal of Financial Crises

Veerathai Santiprabhob was the governor of the Bank of Thailand from 2015 to 2020, a period that included the onset of the COVID-19 pandemic. Earlier in his career, he was an economist at the International Monetary Fund. At the time of the 1997–1998 Asian Financial Crisis, he returned to his home country to take a position at the Ministry of Finance. There, he was involved with the government response to that financial crisis. From 2000 to 2015, he held private-sector finance jobs before going to lead the Bank of Thailand. This Lessons Learned is based on an interview with Santiprabhob …

Lessons Learned: Erik Sirri, Mercedes Cardona

Journal of Financial Crises

Erik Sirri served as director of the Division of Trading and Markets at the US Securities and Exchange Commission (SEC) from 2006 to 2009. In his post, he was responsible for matters relating to the regulation of stock and option exchanges, national securities associations, brokers-dealers, clearing agencies, transfer agents, and credit rating agencies. Before joining the SEC in 1996, he was an assistant professor of finance at the Harvard Business School from 1989 to 1995. Sirri served as the SEC’s chief economist until 1999, before returning to academia. He is currently a professor of finance at Babson College. His research …

Lessons Learned: Claudia Sahm, Mercedes Cardona

Journal of Financial Crises

Claudia Sahm was a principal economist in the Division of Research and Statistics of the Board of Governors of the Federal Reserve System from 2007 to 2017 and section chief for the Consumer & Community Development section in the Division of Consumer and Community Affairs from 2017 to 2019. Her work focused on macro forecasting; she also researched household behavior and responses to fiscal stimulus. While at the Fed, she proposed the Sahm Rule, a gauge to call the start of a recession, based on an average of the unemployment rate. The rule is part of Sahm’s work on the …

Lessons Learned: Deborah Perelmuter, Mercedes Cardona

Journal of Financial Crises

Deborah Perelmuter has spent more than three decades with the Federal Reserve System. In 2008, as senior vice president at the Federal Reserve Bank of New York (FRBNY) and co-head of Capital Markets Analysis and Trading (CMAT) within the Markets Group, she was tasked with setting up the operational details of the Term Securities Lending Facility (TSLF). The TSLF auctioned Treasury securities to primary dealers in exchange for less liquid collateral to provide liquidity to those firms during the Global Financial Crisis of 2007–2009. Perelmuter became senior financial stability adviser within the office of the director in the FRBNY’s Research …

Lessons Learned: Hiroshi Nakaso, Maryann Haggerty

Journal of Financial Crises

Hiroshi Nakaso joined the Bank of Japan (BOJ) in 1978, rising to deputy governor in 2013. He was instrumental in addressing Japan’s domestic crisis of 1997 and its response to the Global Financial Crisis (GFC). He retired from the bank in 2018 and has since served as chairman of the Daiwa Institute of Research in Tokyo. This Lessons Learned summary is based on a November 2021 interview with Nakaso

Lessons Learned: Patrick Honohan, Maryann Haggerty

Journal of Financial Crises

Patrick Honohan, an economist, was governor of the Central Bank of Ireland and a member of the Governing Council of the European Central Bank (ECB) from September 2009 until November 2015. Early in his tenure, he led a team that investigated the causes of the Irish banking crisis that broke out in 2008 during the Global Financial Crisis. Resolving the problems of bank failure and over-indebtedness that emerged in that crisis dominated his term of office. In late 2010, Ireland had to request financial assistance from the “troika” of the International Monetary Fund (IMF), the European Commission, and the European …

Lessons Learned: Mike Leahy, Yasemin Sim Esmen

Journal of Financial Crises

Mike Leahy was associate director at the Federal Reserve Board’s Division of International Finance between 2008 and 2010. He was instrumental in establishing swap lines with foreign central banks and reviewed and reported on excess reserve balances and required interest payments to depository institutions. This Lessons Learned is based on a phone interview with Leahy on October 22, 2020.

Lessons Learned: Andrew Gray, Mercedes Cardona

Journal of Financial Crises

Andrew Gray joined the FDIC in 2007, after having been majority director of communications for the US Senate Committee on Banking, Housing, and Urban Affairs and press secretary for US Senator Richard C. Shelby (R–AL). Gray’s initial project was a campaign to mark the 75th anniversary of the creation of the Federal Deposit Insurance Corporation (FDIC); his role evolved into running crisis communications as the FDIC stepped in during several bank failures triggered by the Global Financial Crisis (GFC) and conducted 489 bank resolutions during 2008–2013. After the crisis, the FDIC also assumed new responsibilities over the winding down of …

Venezuela: Reserve Requirements, Gfc, Corey N. Runkel

Journal of Financial Crises

Leading up to the Global Financial Crisis (GFC), the Banco Central de Venezuela (BCV) sought to tamp down inflation by raising its interest rate target and by raising the marginal reserve requirement for banks, which it had introduced in 2006. By late 2008, the GFC began to hit Venezuelan banks and the country’s public oil producer (PDVSA). Widespread deposit withdrawals squeezed banks and pushed the interbank lending rate to 28%. The BCV responded in December 2008 by lowering the marginal reserve requirement, applicable to deposits above 90 billion bolívars (USD 4.2 million), from 30% to 27% of deposits. It held …

Thailand: Reserve Requirements, Afc, Ezekiel Vergara, Corey N. Runkel

Journal of Financial Crises

Following years of growth, the Thai economy began showing confidence-busting signs in 1996, including a liquidity crunch. In May 1997, the Bank of Thailand (BOT) announced that it would expand the list of short-term assets that banks and finance companies could use to satisfy the BOT’s liquidity reserve requirement, including obligations of the Financial Institution Development Fund (FIDF), which provided liquidity support to illiquid financial institutions. In the summer of 1997, the BOT suspended the operations of 58 finance companies and floated the Thai baht (THB), unleashing the Asian Financial Crisis (AFC). Tight liquidity conditions continued and, in September 1997, …

Russia: Reserve Requirements, Gfc, Benjamin Hoffner

Journal of Financial Crises

In August 2008, Russian banks and financial markets experienced significant capital outflows after Russia invaded neighboring Georgia. The collapse of Lehman Brothers on September 15 led to further outflows and a 25% drop in Russia’s main stock index. On September 17, regulators halted stock-market trading. Later that day, the Central Bank of the Russian Federation (CBR) announced cuts to the three required reserve ratios (RRRs) it imposed on commercial banks—based on their ruble liabilities to foreign banks, ruble liabilities to individuals, and other liabilities—by 400 basis points, effective September 18, in an effort to promote banking sector liquidity. The CBR …

Russia: Reserve Requirements, 1998, Benjamin Hoffner

Journal of Financial Crises

During the 1998 ruble crisis, the Central Bank of the Russian Federation (CBR) relied on reserve requirements (RR) to bring stability to the ruble’s exchange rate corridor and, over time, to inject liquidity into the frozen domestic banking system. First, in February 1998, the CBR unified the RR ratio on ruble and foreign currency liabilities to facilitate ruble financing. Second, after the devaluation of the ruble in August, the CBR lowered the RR ratio to provide liquidity to the banking system. Third, the CBR revised the computation of the RR ratio to provide relief to banks in an effort to …

Peru: Reserve Requirements, Gfc, Sean Fulmer, Bailey Decker

Journal of Financial Crises

Peru experienced the Global Financial Crisis of 2007–2009 (GFC) in two distinct phases. First, starting in the summer of 2007, record capital inflows to the Peru banking sector contributed to an overheating economy. The Banco Central de Reserva del Perú (BCRP) responded in September 2007 by removing reserve requirements on long-term external credit to promote long-term, rather than short-term, capital inflows. In February 2008, for similar reasons, it began to raise the ordinary minimum reserve requirement on bank liabilities and implemented new marginal reserve requirements on increases in those liabilities. Second, when the collapse of the US investment bank Lehman …

Malaysia: Reserve Requirements, Afc, Bailey Decker

Journal of Financial Crises

Bank Negara Malaysia (BNM) unpegged the ringgit in July 1997, days after Thailand floated the baht. Ringgit depreciation and adverse investor sentiment worsened, contributing to a domestic liquidity shortage and capital flight. Malaysia experienced market instability in the early months of 1998, particularly pressure on its exchange rate, foreign currency reserves, and interest rates. At the same time, disruptions in the domestic money market and loan intermediation process caused an increase in lending rates, which resulted in debt servicing problems and weakened financial stability. To facilitate lending and productive economic activity, BNM twice lowered the statutory reserve requirement (SRR) at …

India: Reserve Requirements, Gfc, Sharon Nunn, Carey K. Mott

Journal of Financial Crises

As international funding sources dried up during the Global Financial Crisis of 2007–2009 (GFC), businesses in India sought funds from domestic financial institutions, straining banks and lifting short-term lending rates. The liquidity pressure, coupled with sharp asset price corrections and rupee depreciation, restricted credit expansion in India. The Reserve Bank of India (RBI) responded with a suite of liquidity measures, including cuts to its two reserve requirement ratios, the cash reserve ratio (CRR) and the statutory liquidity ratio (SLR). The RBI cut the CRR over the course of four months from October 2008 to January 2009, lowering the ratio from …

Jamaica: Reserve Requirements, Gfc, Corey N. Runkel

Journal of Financial Crises

In October 2008, the Global Financial Crisis (GFC) and liquidity shortages rocked American and European markets, causing investors to exit liquid Jamaican-dollar assets. The Bank of Jamaica (BOJ) feared a “disorderly depreciation” in the Jamaican-dollar (JMD) exchange rate to the US dollar (BOJ 2009, 44). In response, the BOJ raised required reserve ratios for cash and other liquid assets, the first increases since 2002. The BOJ raised reserve ratios three times—in December 2008, January 2009, and February 2009—because the central bank could not change its requirements by more than 200 basis points per month. The BOJ raised the requirement for …