Social and Behavioral Sciences Commons^™

Dual Effect Of Exchange Rate Policies And Export Promotion On China’S Economic Growth (1990-2023), Ihab Abbas Mohammed Al-Faisal, Zahid Qasim Al-Saadib

Muthanna Journal of Administrative and Economics Sciences

The study aims to identify the Chinese economy’s economic variables by studying and analyzing exchange rate and export promotion policies as they directly relate to the country and its external environment. Studying the relationship between currency exchange rates and exports, on the one hand, and exports and economic growth in China, on the other hand, is essential in knowing when devaluing the Yuan exchange rate leads to higher export growth, which helped raise economic growth rates in China. Therefore, the study relied on the hypothesis that “if China comes up with financial policies to reduce the exchange rate of its …

Systematic Review On Self-Control A Predictor Of Work Performance Of Librarians In Public Universities In South Western Nigeria., Tola Abosede Ogunojemite

Library Philosophy and Practice (e-journal)

The purpose of, this study is to examine how self-control predicts work performance of librarians in public universities in southwestern Nigeria.

The research design adopted for the study was descriptive research survey design of the correlational type. A multi-stage sampling technique was adopted to draw 229 respondents. Data analysis was conducted based on frequency, percentage, mean and standard deviation, to answer the research questions Respondents of this study consisted of males (43.9%) and females (56.1%), majority (28.7%) aged 26-30. The findings revealed that the level of self-control of librarians in public universities in south-western Nigeria was high following the norm …

Volume 50-2 Complete Issue, Steven M. Schnell

The Geographical Bulletin

Volume 50-2 Complete Issue

Cover And Forewords, Steven M. Schnell

The Geographical Bulletin

Cover and Forewords

Scales Of Whiteness And Racial Mixing: Challenging And Confirming Racial Categories, Serin D. Houston

The Geographical Bulletin

This paper examines personal and public portrayals of the self and family articulated by heterosexual mixed-race households living in the Pacific Northwest of the United States. It argues that an attention to scale sheds light on how mixed-race partnerships and households both reproduce a racial hierarchy and express shifting racial identities. A focus on the work of whiteness – defined here as an evaluative set of practices and processes that implicitly or explicitly legitimate a static racial hierarchy – in the confirmation of and challenges to racial categories further specifies my claims. I explore seemingly contradictory expressions of race in …

Comparison Of Recycling Rates Of Three Adjacent Communities In St. Clair County, Illinois, Pamela Lauf

The Geographical Bulletin

This research project consists of two types of surveys to assess recycling in the city limits of Belleville, Swansea, and O’Fallon, Illinois, each of which uses a different type of recycling program. One method of data collection consisted of conducting visual surveys to observe participation rates. The second was a questionnaire mailed to homes in these communities requesting information on the household’s recycling habits, attitudes toward curbside recycling, income, and highest education level achieved by head of household. This project determined that the most influential factor in determining whether people take part in a curbside recycling program is cost.

Street Trees And Urban Renewal: A Baltimore Case Study, Cynthia L. Merse, Geoffrey L. Buckley, Christopher G. Boone

The Geographical Bulletin

For centuries, street trees have persisted as enduring features of the urban landscape. Evidence shows that investing in “green infrastructure” not only contributes to a healthy ecosystem but offers economic and social benefits as well. Despite these advantages, the popularity of street trees has waxed and waned over the years in cities across the United States. The urban forest in Baltimore, Maryland has not been immune to these fluctuations, despite the city’s reputation for innovative tree care and the emphasis city officials placed on street tree planting as part of the urban renewal programs of the 1950s and 1960s. One …

A Revised Climatically Optimal Major League Baseball Season In North America, Brent R. Skeeter

The Geographical Bulletin

A study conducted in the late 1980s determined the climatically optimal placement of the Major League Baseball season based on temperature and several other climatic variables. Numerous changes have taken place in Major League Baseball since the late 1980s which could have potentially altered the placement of the climatically optimal season. This paper updates the previous work in order to determine the current climatically optimal season. The results indicate that the climatically optimal season has only changed slightly since the time of the previous study. As found in the previous study, based on climate alone, the season should begin and …

Cover And Forewords, Steven M. Schnell

The Geographical Bulletin

Cover and Forewords

Amazigh Nationalism In The Maghreb, John Lauermann

The Geographical Bulletin

While many inhabitants of the Maghreb (a cultural region of Northwest Africa) are ethnically Arab, the region is also home to a significant minority population. An indigenous population of the Maghreb, the Imazighen (singular: Amazigh) account for at least 13 percent of regional population. Imazighen exhibit a substantial level of ethnic consciousness and nationalist sentiment. This research investigates manifestations of Amazigh nationalism through political affiliations and cultural associations, focusing especially on Amazigh populations in Algeria and Morocco. Overall, this research finds that there are well-developed Amazigh nationalist ideologies and organizations in, and beyond, the Maghreb. These nationalist forces play significant …

Volume 50-1 Complete Issue, Steven M. Schnell

The Geographical Bulletin

Volume 55-2 Complete Issue

Disturbance And Successional Dynamics In An Old-Growth Whitepine-Mixed Hardwood Forest In The Great Lakes Region Of Minnesota, Grant P. Elliott, Evan R. Larson

The Geographical Bulletin

Concern exists regarding the decline of Eastern white pine (Pinus strobus L.) in the pine-mixed hardwood forests of the Great Lakes region. Using dendroecological techniques, we reconstructed the disturbance history and successional dynamics of an isolated old-growth white pine-mixed hardwood forest in northeastern Minnesota. The oldest trees in the stand were white pine, but a transition to late-successional species began in the mid-1800s prior to extensive anthropogenic influences in the region. This was facilitated by a change in the dominant disturbance type from fire to a combination of wind throw and white-tailed deer browsing. This transition appears to have occurred …

Toward A Non-Totalizing Critique Of Capitalism, Kate Driscoll Derickson

The Geographical Bulletin

In this paper, I critically engage from a feminist perspective with arguments from David Harvey’s Condition of Postmodernity. Using feminist insights into epistemology and ontology, I argue that Harvey’s is a totalizing theory, and as such, lacks the emancipatory value it claims to offer. I then engage with some feminist critiques of Harvey’s work, arguing that, while innovative, they are insufficient insofar as they fail to provide a critique of capitalism. Drawing on the work of feminist epistemologist Lorraine Code, I explore what a non-totalizing theory of capitalism might look like. I conclude by arguing the work of Gibson-Graham and …

Lessons Learned: Martín Redrado, Vincient Arnold

Journal of Financial Crises

Martín Redrado was appointed president of the Central Bank of Argentina by President Néstor Kirchner in 2004 and oversaw measures to manage the external shocks of the Global Financial Crisis of 2007–09. He resigned in 2010 after President Cristina Fernández de Kirchner tried to remove him over a dispute regarding the use of the bank’s reserves to fund the government. After leaving the bank, Redrado authored the book No Reserve: The Limit of Absolute Power, which argues against the danger of mixing politics and economics. He is currently a director of the think tank Fundación Capital and most recently was …

Lessons Learned: Alfred Dellibovi, Maryanne Chute Lynch, Rosalind Z. Wiggins

Journal of Financial Crises

The Yale Program on Financial Stability (YPFS) interviewed Alfred DelliBovi about his tenure as president and chief executive officer of the Federal Home Loan Bank of New York leading up to and during the Global Financial Crisis of 2007–09 (GFC). The Federal Home Loan Banks (FHLBs) played a critical and unexpected lending role for their member banks at the start of the crisis. DelliBovi remained in his position for 21 years, until 2014. Before moving to the FHLB, DelliBovi had served as deputy secretary at the United States Department of Housing and Urban Development (HUD) from 1989 to 1992, in …

Policy Note | Weekly Fed Report Still Drives Discount Window Stigma, Steven Kelly

Journal of Financial Crises

As banking regulators work to destigmatize the Federal Reserve’s discount window—and fervently so since the 2023 banking crisis—they’ve pointed to several potentially fruitful policy routes. These have included supervisory improvements, regulatory changes, and operational enhancements by both the banks and the Fed. Left off the menu so far have been changes to the Fed’s weekly publications that reveal up-to-date discount window borrowing data by regional geography. Reforms following the Global Financial Crisis of 2007–2009 have made mandatory the disclosure of discount window borrowers on a two-year lag—higher transparency than previously when no disclosure was required. However, bigger banks, such as …

Policy Note | Discount Window Stigma: What's Design Got To Do With It?, Susan Mclaughlin

Journal of Financial Crises

This article utilizes discount window transaction data, which the Federal Reserve began disclosing in 2010, to assess how the Fed’s 2003 redesign of the discount window has affected banks’ use of the window. The data show that while the discount window remains stigmatized and relatively little used outside periods of funding market stress, secondary credit has at times played a role in supporting bank recovery and resolution, as envisioned by the 2003 redesign. This development raises a policy question: has the two-tiered design of the discount window implemented in 2003, in which a lending facility for sound banks operates alongside …

United States: Citigroup Capital Injection, 2008, Benjamin Hoffner, Vincient Arnold

Journal of Financial Crises

During the first three weeks of November 2008, Citigroup’s stock price dropped almost 80%, and its credit default swap spreads spiked as the market lost confidence in the bank’s ability to honor its commitments. Counterparties pulled away, and regulators determined Citi’s failure would constitute a systemic risk. On November 23, 2008, the Treasury, Federal Reserve Board, and Federal Deposit Insurance Corporation announced a package of measures to rescue Citi, which included an Asset Guarantee Program (AGP) to cover $306 billion in Citi’s assets and an ad hoc capital injection—the Targeted Investment Program (TIP). Under the guarantee, Citi would absorb the …

Russia: Otkritie Bank Restructuring, 2017, Benjamin Hoffner

Journal of Financial Crises

In July and August 2017, Otkritie Bank, Russia’s largest privately owned bank, experienced a deposit run related to concerns over Otkritie’s recent acquisitions. The run prompted Otkritie’s shareholders to approach the Central Bank of Russia (CBR) for assistance. On August 29, 2017, the CBR announced a rescue plan for Otkritie. In it, the CBR pledged to become Otkritie’s main investor using a newly created resolution mechanism wherein the CBR would take at least a 75% equity stake using funds from the Fund for Banking Sector Consolidation, a subdivision of the CBR. The CBR simultaneously appointed a provisional administration, composed of …

United States: Bank Of America Capital Injection, 2009, Benjamin Hoffner, Vincient Arnold

Journal of Financial Crises

On September 15, 2008, Bank of America (BofA) announced a merger with the investment bank Merrill Lynch. In December, BofA learned that Merrill Lynch had experienced large, unexpected losses amounting to $15.5 billion during the fourth quarter of 2008. In light of these losses, BofA’s CEO informed the US Treasury secretary and Federal Reserve chairman that BofA intended to invoke the material adverse change clause of the merger agreement, allowing for a renegotiation of, or escape from, the merger. Officials at the Fed and Treasury warned BofA that a failure of the merger would have adverse consequences for BofA and …

Switzerland: Schweizerische Volksbank Capital Injection, 1933, Anmol Makhija

Journal of Financial Crises

Schweizerische Volksbank, or Swiss People’s Bank, grew to be the second-largest bank in Switzerland by 1930, when its balance sheet peaked at 1.7 billion Swiss francs (CHF). Beginning in 1929, nonperforming assets weighed on Volksbank’s profitability. By 1933, the bank faced losses on CHF 118.5 million in assets, representing approximately 10% of total assets. The government provided liquidity in the form of loans and deposits to Volksbank in 1931 and again in 1933 until it could finalize a capital injection. In 1933, the government determined that Volksbank was too important to the national economy to allow its failure. As owners …

Switzerland: Ubs Capital Injection, 2008, Anmol Makhija

Journal of Financial Crises

UBS, the eighth-largest bank in the world and the largest bank in Switzerland in 2008, incurred write-downs totaling USD 50 billion during the Global Financial Crisis, mostly on exposures to securities linked to US subprime mortgages. On October 16, 2008, the Swiss Federal Council announced that the government would subscribe to CHF 6 billion (USD 5.3 billion) of mandatory convertible notes (MCNs) issued by UBS to restore confidence in the bank and the financial system. UBS agreed to use the government’s capital to fund the equity for a special purpose vehicle, StabFund, that the central bank created to take over …

Spain: Caja De Ahorros Castilla–La Mancha Capital Injection, 2009, Lakshimi Swaminathan, Vincient Arnold

Journal of Financial Crises

Caja de Ahorros Castilla–La Mancha (CCM) was a small Spanish savings bank with just 1% market share in deposits and loans. Following years of rapid credit expansion in the real estate sector and reliance on wholesale funding markets to carry out its operations between 2000 and 2008, CCM found itself on the brink of insolvency in early 2009, with a Tier 1 capital ratio of just 1.3%, compared with the 8% regulators required. The authorities placed the bank under administration in 2009. Consequently, the Spanish Savings Bank Deposit Guarantee Fund (Fondo de Garantía de Depósitos de Ahorros, or FGD) agreed …

Portugal: Banco Espírito Santo Capital Injection, 2014, Salil Gupta, Shavonda Brandon

Journal of Financial Crises

Banco Espírito Santo (BES) was the second-largest private bank in Portugal in 2014, with assets of EUR 80 billion (USD 81 billion). A capital increase of EUR 1.1 billion to the BES was concluded on market terms in June 2014. The Bank of Portugal (BOP) adopted a resolution measure for BES on August 3, 2014, to safeguard financial stability by protecting all depositors and ensuring continuation of operating activities of the bank. The Portuguese Resolution Fund provided equity capital of EUR 4.9 billion to a bridge bank, Novo Banco, with 100% public ownership and the expectation of sale to private …

Russia: Otkritie Bank Capital Injection, 2017, Benjamin Hoffner

Journal of Financial Crises

In July and August 2017, Otkritie Bank, Russia’s largest privately owned bank, experienced a deposit run related to concerns over recent acquisitions, including a large, troubled bank and insurance company. The run prompted Otkritie’s shareholders to ask the Central Bank of Russia (CBR) for assistance, which the CBR announced on August 29, 2017. In the announcement and subsequent press interviews, the CBR pledged to become Otkritie’s main investor using a newly created resolution mechanism wherein the CBR would take at least a 75% equity stake using funds from the Fund for Banking Sector Consolidation (FBSC), a subsidiary of the CBR. …

Latvia: Parex Bank Capital Injection, 2008, Bailey Decker

Journal of Financial Crises

Heading into the Global Financial Crisis, JSC Parex banka was Latvia’s second-largest bank in terms of assets, comprising 13.8% of total assets in the Latvian banking sector. In autumn 2008, Parex faced a capital shortfall owing to massive credit and market losses in addition to increasing liquidity problems and deposit runs of 240 million Latvian lats (LVL; USD 428.6 million). Parex’s capital adequacy ratio fell below the regulatory minimum of 8% on October 28, 2008. Parex had two senior syndicated loans maturing in February and June 2009, totaling EUR 775 million (USD 992 million). Latvian authorities doubted that Parex would …

Netherlands: Sns Reaal Capital Injection, 2013, Ayodeji George

Journal of Financial Crises

The property finance division of SNS Reaal N.V., a financial conglomerate comprising SNS Bank, the fourth-largest Dutch bank, and Reaal Insurance, the second-largest Dutch life insurer, was heavily exposed to losses in the real estate sector from 2008 to 2010. In January 2013, a growing bank run and the revelation of substantial losses forced the government to intervene. The Minister of Finance rejected proposals from the bank and a private equity firm, and nationalized SNS Reaal on February 1, 2013. Upon nationalizing the firm, the Dutch state injected EUR 2.2 billion into the firm in the form of ordinary shares, …

Korea: Korea First Bank And Seoul Bank Capital Injections, 1997, Jisoo Park, Owen Heaphy

Journal of Financial Crises

Korea First Bank (KFB) and Seoul Bank (SB) were two of the five largest commercial banks in Korea with high levels of exposure to conglomerates, which had high short-term foreign debt in the late 1990s. Starting in the late summer of 1997, Korea, like other Asian economies, experienced capital outflows due to international creditors’ reducing their exposures to Korean financial institutions. Banks relied on the Bank of Korea for foreign exchange liquidity support. The two banks became insolvent owing to high levels of nonperforming loans and required government recapitalization after experiencing a run in early December 1997. As financial conditions …

Italy: Banca Monte Dei Paschi Di Siena Capital Injection, 2017, Benjamin Hoffner

Journal of Financial Crises

The 2017 recapitalization of Italy’s third-largest bank, Banca Monte dei Paschi di Siena (MPS), the oldest bank in the world, represents an unusual precautionary, “open bank” recapitalization under the European Union’s Bank Recovery and Resolution Directive (BRRD) rules. In 2015, the bank held the largest portfolio of nonperforming loans (NPLs) in Italy (with 34.8% of its total loans), and in 2016 it was the only bank to fail the European Banking Authority’s adverse scenario stress test, although its reported total capital ratio at the end of the year was 10.4%. To address its NPL problem, MPS agreed with the European …

Japan: Nippon Credit Bank Capital Injection,1997, Owen Heaphy

Journal of Financial Crises

In 1997, Japan experienced a financial crisis caused by the bursting of a bubble in commercial real estate prices. By March, Nippon Credit Bank (NCB), the smallest of Japan’s three long-term credit banks, required government assistance due to its heavy exposure to commercial real estate and large amount of nonperforming loans. On April 1, the Bank of Japan (BoJ) announced the government’s intention to recapitalize NCB as part of a restructuring package. To facilitate the injection, Japan’s Ministry of Finance (MoF) engineered a consortium of large existing shareholders in NCB (mainly insurance companies) and the other two Japanese long-term credit …