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2022

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Full-Text Articles in Business

Argentina: Reserve Requirements, 1994–1995, Natalie Leonard Dec 2022

Argentina: Reserve Requirements, 1994–1995, Natalie Leonard

Journal of Financial Crises

The devaluation of the Mexican peso in December 1994 sparked concerns about the quality and safety of government debt across Latin American countries, including Argentina. In late 1994 and 1995, Banco Central de la Republica Argentina (BCRA) implemented three changes in reserve requirement policy to restore liquidity throughout the financial system and defend the currency peg to the US dollar. First, it lowered the existing minimum reserve requirement, which required banks to hold reserves entirely in cash (pesos or US dollars). This released more than ARS 4 billion (USD 4 billion) in resources into the banking system, according to the …

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Thailand: Fidf Blanket Guarantee, 1997, Ayodeji George Dec 2022

Thailand: Fidf Blanket Guarantee, 1997, Ayodeji George

Journal of Financial Crises

The Thai government’s decision to allow the baht to float in July 1997 was the pivotal event of the Asian Financial Crisis. The baht fell 20% by the end of the month, further pressuring Thai financial institutions that had borrowed heavily in US dollars and other foreign currencies. In early August, Thailand’s Finance Minister and the Bank of Thailand (BOT) announced the suspension and restructuring of insolvent finance companies and a blanket guarantee covering depositors and creditors of all domestic banks and the remaining finance companies, administered by the BOT’s Financial Institutions Development Fund (FIDF). However, the blanket guarantee was …

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Mexico: Fobaproa Blanket Guarantee, 1993–1994, Stella Schaefer-Brown Dec 2022

Mexico: Fobaproa Blanket Guarantee, 1993–1994, Stella Schaefer-Brown

Journal of Financial Crises

On December 22, 1994, the Mexican government allowed the peso to float freely against the US dollar, aggravating the run on peso deposits, leading to the rapid devaluation of the peso, and sparking the peso crisis. The following week, the Bank of Mexico announced that the Mexican deposit insurer would fully guarantee all commercial bank deposits and liabilities except subordinated debt. The announcement of the blanket guarantee appeared effective at reassuring foreign investors, as the central bank was soon able to ease the liquidity support that it had been providing to banks during the crisis. The government created a deposit …

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Sweden: Bank Support Authority, Blanket Guarantee, 1992, Anmol Makhija Dec 2022

Sweden: Bank Support Authority, Blanket Guarantee, 1992, Anmol Makhija

Journal of Financial Crises

Following a period of rapid financial liberalization and a record credit boom in the 1980s, Sweden’s financial system suffered its worst shock in the post–World War II period. Swedish banks were heavily dependent on foreign credit, which dried up amid signs of instability. The Swedish government announced a blanket guarantee on September 24, 1992, for all banks’ obligations except share capital and perpetual subordinated loans. According to a 1995 IMF Working Paper by Drees and Pazarbasioglu, the purpose of the blanket guarantee was “to guarantee the stability of the payments system and to safeguard the general supply of credit.” The …

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Korea: Blanket Guarantee, 1997, Bailey Decker Dec 2022

Korea: Blanket Guarantee, 1997, Bailey Decker

Journal of Financial Crises

Korea entered the Asian Financial Crisis in August 1997 with highly leveraged firms and a banking system inexperienced in managing systemic risk. Korea faced a currency crisis and a banking crisis, as foreign banks froze credit to Korean commercial banks and merchant banks. On August 25, 1997, the Ministry of Economy and Finance (MOEF) announced that it would guarantee all Korean financial institutions’ foreign debt—both existing debt and new borrowings. Nonetheless, foreign lenders continued to withdraw credit from Korean financial institutions. On November 19, 1997, a newly appointed MOEF minister announced a suite of measures to promote foreign creditors’ confidence …

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Ireland: Credit Institution (Financial Support) Scheme, 2008, Stella Schaefer-Brown Dec 2022

Ireland: Credit Institution (Financial Support) Scheme, 2008, Stella Schaefer-Brown

Journal of Financial Crises

The Global Financial Crisis exposed fragilities in the Irish banking system and led to widespread runs on Irish banks. Irish authorities attempted to address the runs on September 22, 2008, by increasing the country’s deposit guarantee limit from EUR 20,000 to EUR 100,000 (USD 28,800 to USD 140,000) and raising the coverage of deposits from 90% to 100%. When the runs continued, the Irish minister for finance announced a blanket guarantee of bank liabilities on September 30 without consulting European Union authorities. The announcement specified the blanket guarantee would be effective immediately and remain in effect for two years. The …

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Jamaica: Finsac Blanket Guarantee, 1997, Ayodeji George Dec 2022

Jamaica: Finsac Blanket Guarantee, 1997, Ayodeji George

Journal of Financial Crises

After a period of sustained distress in the early 1990s, Jamaican financial institutions faced significant liquidity issues by 1996, evidenced by runs on banks by depositors. The government responded by creating the Financial Sector Adjustment Company (FINSAC) on January 29, 1997, to rehabilitate weak financial institutions and administer a blanket guarantee on financial sector liabilities. The blanket guarantee covered all deposit-taking financial institutions, life insurance policy providers, and pension funds registered under the Banking Act, Financial Institutions Act, and Insurance Act. Within eligible institutions, the blanket guarantee covered depositors’ funds in licensed deposit-taking institutions, pension funds managed by authorized institutions, …

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Indonesia: Blanket Guarantee, 1998, Ayodeji George Dec 2022

Indonesia: Blanket Guarantee, 1998, Ayodeji George

Journal of Financial Crises

The Indonesian government closed 16 banks on November 1, 1997. At the time, the government said it would guarantee depositors up to 20 million Indonesian rupiah (IDR; USD 6,000) per account. The lack of immediate full protection for large depositors caused deposit runs throughout the banking sector and undermined foreign confidence in the Indonesian financial system. In response, the Indonesian president on January 26, 1998, announced a blanket guarantee and created the Indonesian Bank Restructuring Agency (IBRA) to administer the guarantee and other bank rehabilitation efforts. The blanket guarantee covered all depositors and nonsubordinated creditors in locally incorporated commercial banks. …

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Ecuador: Blanket Guarantee, 1998, Bailey Decker Dec 2022

Ecuador: Blanket Guarantee, 1998, Bailey Decker

Journal of Financial Crises

After a series of exogenous shocks hit the Ecuadorian economy in 1997–1998, foreign creditors reassessed their emerging-market risk and reduced external credit lines to Ecuador, thus draining liquidity. The closure of a small bank called Solbanco in April 1998 triggered deposit runs at other banks. Banks sought assistance from the Central Bank of Ecuador (Banco Central del Ecuador, or BCE). By the end of September 1998, the BCE had issued emergency loans to 11 financial institutions, totaling nearly 30% of the money base. The crisis accelerated in August 1998 when Banco de Prestamos, the sixth-largest bank, was closed; the existing …

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Finland: Government Guarantee Fund, Blanket Guarantee, 1992, Anmol Makhija Dec 2022

Finland: Government Guarantee Fund, Blanket Guarantee, 1992, Anmol Makhija

Journal of Financial Crises

Following a period of rapid financial liberalization and a record credit boom in the 1980s, Finland’s financial system suffered steadily increasing loan losses and falling earnings beginning in 1990. The Finnish Parliament created the Government Guarantee Fund (GGF) in April 1992 to support banks with loans, capital, and guarantees. In a press release issued on August 6, 1992, the government said the GGF would “secure the stable functioning of the banking system under any circumstances [emphasis added]”. Six months later, the Parliament of Finland specifically required the GGF to guarantee that all Finnish banks could meet their commitments. The government …

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Denmark: General Guarantee Scheme, 2008, Benjamin Hoffner Dec 2022

Denmark: General Guarantee Scheme, 2008, Benjamin Hoffner

Journal of Financial Crises

As foreign credit in Denmark dried up during the summer of 2008, Danish banks became increasingly reliant on short-term borrowing. The government took over the failing Roskilde Bank, the country’s eighth-largest bank, in late August. On October 5, 2008, the government announced a voluntary General Guarantee Scheme to fully insure deposits and other senior liabilities of participating banks. Banks could participate in the scheme by becoming members of the financial sector’s banking consortium, Det Private Beredskab, or in English, the Private Contingency Association (PCA), before October 13, 2008. The General Guarantee Scheme fully insured all depositors and senior unsecured creditors …

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Reserve Requirements Survey, June Rhee, Carey K. Mott, Greg Feldberg, Andrew Metrick Dec 2022

Reserve Requirements Survey, June Rhee, Carey K. Mott, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

Banks have a private motive to hold some level of cash and liquid reserves, but the negative externalities of bank runs create a public interest in setting a regulatory level higher than the privately optimal level. We can think of such reserve requirements (RRs) as the original form of liquidity regulation. In this paper, we focus on 14 cases in which central banks adjusted RRs after crises hit, typically to deal with liquidity shortages in the banking system. We observe that RR adjustments have several advantages in a crisis: (1) such changes require little process, and the change for banks …

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Blanket Guarantees Survey, Christian M. Mcnamara, Carey K. Mott, Greg Feldberg, Andrew Metrick Dec 2022

Blanket Guarantees Survey, Christian M. Mcnamara, Carey K. Mott, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 10 blanket guarantee (BG) programs across 13 Key Design Decisions. The defining characteristics of these programs in terms of their inclusion in our BG series are (a) that they guaranteed a broader range of liabilities beyond deposit accounts and (b) that the guarantees covered existing liabilities in addition to newly issued ones. Each case represents an effort to eliminate creditors’ incentive to withdraw funding from institutions by guaranteeing that the funding will be paid back even if the institutions are unable to do so themselves. The main themes that emerge are: (a) the inability of blanket guarantees …

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Fire Sales, The Lolr, And Bank Runs With Continuous Asset Liquidity, Ulrich Bindseil, Edoardo Lanari Dec 2022

Fire Sales, The Lolr, And Bank Runs With Continuous Asset Liquidity, Ulrich Bindseil, Edoardo Lanari

Journal of Financial Crises

Banks’ asset fire sales and recourse to central bank credit are modeled with continuous asset liquidity, allowing us to derive the liability structure of a bank. Both asset sales liquidity and the central bank collateral framework are modeled as power functions within the unit interval. Funding stability is captured as a strategic bank run game in pure strategies between depositors. Fire sale liquidity and the central bank collateral framework determine jointly the ability of the banking system to deliver maturity transformation without endangering financial stability. The model also explains why banks tend to use the least liquid eligible collateral with …

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Doctoral Studies As Learning To Rename The World, Hyleen Mariaye Dec 2022

Doctoral Studies As Learning To Rename The World, Hyleen Mariaye

Journal of Multicultural Affairs

The reflective experience documented in this paper engages with doctoral learning from Freire’s (1968/2000) conceptual lens of naming the world. Written from the narrative lens of the supervisor, it considers how doctoral level studies in education can position both the supervisor and the candidates as agents actively reconstructing their understanding of the world and their place in it. The doctoral journey is viewed as praxis compelling researchers to expand their frames for reading the world, accommodating the other, including multiple voices and thus demonstrating commitment to a global and yet constantly contested notion of citizenship.

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Poetry And Praxis: Lessons From An Activist Educator, Dr. Emmanuel Tabi Dec 2022

Poetry And Praxis: Lessons From An Activist Educator, Dr. Emmanuel Tabi

Journal of Multicultural Affairs

Drawing on data from a narrative multi-case study based in Toronto, Canada, this article discusses the lived experiences of one Black activist. Utilizing critical race theory, new literacy studies and the rhetoric of cultural production as theoretical frameworks, the article foregrounds the work of Ebele, a Toronto activist whose work supported the educational trajectories and emotional well-being of Black students, many of whom reported being marginalized in school. Through his creative labor, Ebele directly addressed the sociology of anti-Black racism that deeply influences the lives of Afrodiasporic people in Canada. This article continues the conversation about what it means to …

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Editors' Note, Nirupama Devaraj, Bharath Ganesh Babu Dec 2022

Editors' Note, Nirupama Devaraj, Bharath Ganesh Babu

Midwest Social Sciences Journal

No abstract provided.

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Submission Guidelines Dec 2022

Submission Guidelines

Midwest Social Sciences Journal

No abstract provided.

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Examining The Influence Of Information Technology On Health Behaviors And Health Outcomes, Mohammad Moinul Islam Murad Dec 2022

Examining The Influence Of Information Technology On Health Behaviors And Health Outcomes, Mohammad Moinul Islam Murad

Information Systems & Operations Management Dissertations - Archive

Information Technology (IT) has radically changed our daily lives and it has the potential to help us adopt healthy behaviors and improve health outcomes. This two-part study investigates the influence of IT on health behaviors in population health management. Crises lead to severe uncertainty, high-risk perceptions, and vulnerability among people. Crisis communication through social media platforms influences people to undertake recommended behaviors that mitigate crisis consequences. Political leaders utilize Twitter to deliver crisis messages that offer mental support and empower local communities to spawn resilience and adaptability with emergent collective behaviors necessary to respond to the crisis. The primary objective …

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Of Movements And Markets: Religious Competition And The Problem Of Black Church Relevance, Omar M. Mcroberts Dec 2022

Of Movements And Markets: Religious Competition And The Problem Of Black Church Relevance, Omar M. Mcroberts

Midwest Social Sciences Journal

Why do cross-denominational public religious movements such as the Southern Christian Leadership Conference appear, despite the market-like competitive behavior of churches? Religious economy theory offers one set of explanations, based on a supply-side approach to the dynamics of numeric religious growth and decline. Namely, ecumenical movements are engaged by denominations, or religious firms, in membership decline. The history of national Black ecumenical movements, however, points to ways that religious economic theorizing fails to account for the multiple modes of social consciousness regarding church survival that motivate institutional religious activity. Black churches have existed not merely as a market but as …

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Volume 25, Full Contents Dec 2022

Volume 25, Full Contents

Midwest Social Sciences Journal

No abstract provided.

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Mission And Editorial Policy Dec 2022

Mission And Editorial Policy

Midwest Social Sciences Journal

No abstract provided.

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Author Biographical Notes Dec 2022

Author Biographical Notes

Midwest Social Sciences Journal

No abstract provided.

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Construction Of Talent Highland And Modernization Of Science And Technology In China, Yongnian Zheng Dec 2022

Construction Of Talent Highland And Modernization Of Science And Technology In China, Yongnian Zheng

Bulletin of Chinese Academy of Sciences (Chinese Version)

No abstract provided.

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Reviewers And Referees Dec 2022

Reviewers And Referees

Midwest Social Sciences Journal

No abstract provided.

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Statement From The Indiana Academy Of The Social Sciences And Board Of Directors Dec 2022

Statement From The Indiana Academy Of The Social Sciences And Board Of Directors

Midwest Social Sciences Journal

No abstract provided.

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Effects Of Pay Transparency On Application Intentions Through Fairness Perceptions And Organizational Attractiveness: Diversifying The Workforce By Effectively Recruiting Younger Women, Phi Phan-Armaneous Dec 2022

Effects Of Pay Transparency On Application Intentions Through Fairness Perceptions And Organizational Attractiveness: Diversifying The Workforce By Effectively Recruiting Younger Women, Phi Phan-Armaneous

Industrial-Organizational Psychology Dissertations

In the wake of the Great Resignation, employers are desperate to recruit and attract employees (Fanning, 2021). Women employees tend to enhance organizational performance, and as younger employees make up a substantial portion of the workforce, organizations should position themselves to attract younger women employees (McKinsey & LeanIn, 2021; 2022). I suggest pay transparency (PT) as one strategy to attract and trigger application intentions through increased fairness. In the study, I conducted an experimental study on 301 women of ages 18 to 45 where one company promoted PT, and another did not promote PT to better understand applicant attitudes. Serial …

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Barriers For Small Businesses To Adopt Sustainable Practices In The Sioux Falls Area, Meredith King Dec 2022

Barriers For Small Businesses To Adopt Sustainable Practices In The Sioux Falls Area, Meredith King

Honors Thesis

Sustainability is a broad concept that encompasses environmental, social, and economic factors to meet current and future needs. Many individuals and large businesses are becoming conscious of the effects they have on the planet and the people around them. However, despite the financial benefits and positive publicity of environmentalism, many businesses are not adopting sustainable practices. This study interviewed local business owners to answer the question “What are the main reasons that small businesses in the Sioux Falls area of South Dakota do or do not adopt sustainable practices that benefit the environment and the community?” Five business owners were …

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Layout And Suggestions On China’S Science And Technology Innovation Centers At Different Levels, Wenzhong Zhang Dec 2022

Layout And Suggestions On China’S Science And Technology Innovation Centers At Different Levels, Wenzhong Zhang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Science and technology innovation center plays an important role in transforming the mode of economic development and enhancing industrial competitiveness. The formation and development of science and technology innovation center depend on the gathering of innovative talents, the support of first-rate universities and research institutions, and the cooperation and mutual promotion between innovation organizations and enterprises. In the course of future development, China should build a multi-level network system of science and technology innovation centers with international centers which can connect to global innovation networks, national centers which are capable of leading national science and technology research and development and …

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Creating Data From Unstructured Text With Context Rule Assisted Machine Learning (Craml), Stephen Meisenbacher, Peter Norlander Dec 2022

Creating Data From Unstructured Text With Context Rule Assisted Machine Learning (Craml), Stephen Meisenbacher, Peter Norlander

School of Business: Faculty Publications and Other Works

Popular approaches to building data from unstructured text come with limitations, such as scalability, interpretability, replicability, and real-world applicability. These can be overcome with Context Rule Assisted Machine Learning (CRAML), a method and no-code suite of software tools that builds structured, labeled datasets which are accurate and reproducible. CRAML enables domain experts to access uncommon constructs within a document corpus in a low-resource, transparent, and flexible manner. CRAML produces document-level datasets for quantitative research and makes qualitative classification schemes scalable over large volumes of text. We demonstrate that the method is useful for bibliographic analysis, transparent analysis of proprietary data, …

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