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Full-Text Articles in Finance

The Sustainability Of Child Protection Services In The Republic Of Kosovo, Shpetim Bylykbashi Mar 2020

The Sustainability Of Child Protection Services In The Republic Of Kosovo, Shpetim Bylykbashi

Capstone Collection

Today, in Kosovo, are services provided for the children most in need sustainable? Do these services have stable and long-term funding? Did the decentralization of the Kosovo government strengthen or weaken the existing child protective environment? In an attempt to answer these questions, a review of available literature was completed, as well as direct interviews conducted with relevant stakeholders engaged in Kosovo’s child protection services at both the governmental and civil society levels. The main finding of my research is that vulnerable children in Kosovo, such as children without parental care, children with special needs, and child victims of domestic …


Regulation Of Derivatives In Asia: When Technology Meets Financial Engineering, Christopher C. H. Chen Jan 2020

Regulation Of Derivatives In Asia: When Technology Meets Financial Engineering, Christopher C. H. Chen

Research Collection Yong Pung How School Of Law

This chapter introduces the current state of derivatives market regulation in Asia following the global financial crisis. It focuses on Singapore and Hong Kong, the two largest international financial centres in the region. Singapore and Hong Kong have adopted international regulatory reforms, including mandatory trade reporting, centralized clearing, exchange trading requirements and the initial margin rule. The implementation has varied greatly because reporting requirements and initial margin rules have been implemented whereas clearing and trading requirements are waiting for full implementation. The arrival of financial technology may help Asian regulators oversee derivatives markets, by improving cross-border information sharing, reporting or …


The Bluebox Practicum: Integrating Technology, Culture, And Academic Service-Learning, Charles Braymen, Dustin Ormond Nov 2019

The Bluebox Practicum: Integrating Technology, Culture, And Academic Service-Learning, Charles Braymen, Dustin Ormond

Jesuit Higher Education: A Journal

Advancing education in marginalized communities has been more difficult compared to more privileged communities due to the lack of infrastructure, which in part results in an absence of educational materials. The BlueBox Project was created to minimize this divide by bringing a wealth of information to these communities. Using a small digital computer, faculty, staff, and students across many disciplines built the BlueBox, a stand-alone digital library which hosts an array of books, articles, educational games, and videos to inspire learning in a variety of subjects including science, technology, math, music, and literature. The BlueBox is powered by solar energy, …


Cooling Measures And Housing Wealth: Evidence From Singapore, Wolfgang K. Hardle, Rainer Schulz, Taojun Xie Oct 2019

Cooling Measures And Housing Wealth: Evidence From Singapore, Wolfgang K. Hardle, Rainer Schulz, Taojun Xie

Research Collection Lee Kong Chian School Of Business

Excessive house price growth was at the heart of the financial crisis in 2007/08. Since then, many countries have added cooling measures to their regulatory frameworks. It has been found that these measures can indeed control price growth, but no one has examined whether this has adverse consequences for the housing wealth distribution. We examine this for Singapore, which started in 2009 to target price growth over ten rounds in total. We find that welfare from housing wealth in the last round might not be higher than before 2009. This depends on the deflator used to convert nominal into real …


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 Feb 2019

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.


Venezuela Undermines Gold Miner Crystallex's Attempts To Recover On Its Icsid Award, Sam Wesson Feb 2019

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.


Financial Sector In Singapore, Hwee Kwan Chow, Sai Fan Pei Jan 2019

Financial Sector In Singapore, Hwee Kwan Chow, Sai Fan Pei

Research Collection School Of Economics

This chapter reviews the financial development strategies adopted by the Singapore government as it navigates internal and external changes to build a vibrant center of finance in the Asia Pacific region. Sections 2 and 3 provide an overview of the structure of the financial system and the financial governance framework respectively. This is followed by a discussion, in Section 4, on the outward looking development strategy that underpinned the successful development of Singapore’s financial sector. Section 5 highlights the reforms undertaken in the aftermath of the Asian financial crisis that led to the building of a well-diversified and thriving international …


Warrants And Their Underlying Stocks: Microstructure Evidence From An Emerging Market, Charlie Charoenwong, David K. Ding, Nuttawat Visaltanachoti Sep 2018

Warrants And Their Underlying Stocks: Microstructure Evidence From An Emerging Market, Charlie Charoenwong, David K. Ding, Nuttawat Visaltanachoti

Research Collection Lee Kong Chian School Of Business

The Stock Exchange of Thailand provides an ideal platform for comparing the trading characteristics of warrants and their underlying stocks since both of them trade in the same market under identical trading rules. If their patterns diverge significantly, it may be possible for an astute trader to devise profitable arbitrage strategies during the life of the warrants. We find that both their patterns are downward-sloping for spreads, U-shaped for flow toxicity, volatility, depth concentration, and trading volume; and upward-sloping for depth and market order flow ratio. This implies that trading under identical market structures leads to similar trading characteristics. We …


Transfer Mispricing In Africa: Contextual Issues, Edna Kabala, Manenga Ndulo May 2018

Transfer Mispricing In Africa: Contextual Issues, Edna Kabala, Manenga Ndulo

Southern African Journal of Policy and Development

Transfer pricing is a significant tax issue and lies at the core of international trade and globalisation. This brief raises contextual issues and challenges surrounding the experience of transfer mispricing in Africa. The brief comes at a time when African countries have consistently exhibited high real Gross Domestic Product (GDP) growth rates in the past two decades, and increased FDI inflows and technological upgrades have aided their high participation in global trade. Despite the profitability of MNEs operations in Africa, the investing firms are paying less in terms of tax. This has created a problem for African countries to raise …


Income And Subjective Well-Being: Evidence From Singapore's First National Non-Contributory Pension, Yanying Chen, Yi Jin Tan May 2018

Income And Subjective Well-Being: Evidence From Singapore's First National Non-Contributory Pension, Yanying Chen, Yi Jin Tan

Research Collection School Of Economics

We use a new monthly panel and a difference-in-differences strategy to study the effects of an exogenous permanent income shock on subjective well-being along previously unexplored dimensions. This permanent income shock is the introduction of Singapore’s first national non-contributory pension, the Silver Support Scheme. The pension improved the life satisfaction of recipients, and appeared to be driven by social, household income, and economic satisfaction. Consistent with the predictions of standard consumption-savings models, well-being improved when the shock was unanticipated (at announcement), but did not improve significantly further when the shock was anticipated (at disbursement). In addition, we find evidence that …


The Path To Mainstream Finance: Exploring Complementary Currencies And Interest-Free Lending, Ema Di Fruscia Apr 2018

The Path To Mainstream Finance: Exploring Complementary Currencies And Interest-Free Lending, Ema Di Fruscia

Independent Study Project (ISP) Collection

This paper explores elements of alternative finance including complementary currencies, credit clearing systems, and Islamic Banking practices. I begin first by outlining the issues created by the mainstream western banking model, including wealth inequality, socioeconomic discrimination, environmental degradation, and the collapse of small businesses and local economies. I go on to introduce and define the concepts of complementary currencies, Local Exchange Trading Systems, and credit clearing systems; I argue that these systems challenge the popularly held perceptions that currencies and mainstream banking practices in general are immutable, given, or ideal. To support this assertion, I transition into my research findings …


Inflation Expectations In Singapore: A Behavioural Approach, Alexander Clark, Aurobindo Ghosh, Samuel Hanes Apr 2018

Inflation Expectations In Singapore: A Behavioural Approach, Alexander Clark, Aurobindo Ghosh, Samuel Hanes

Research Collection Lee Kong Chian School Of Business

The expectations of economic agents have significant impact on their decisions and are key determinants of macroeconomic outcomes such as inflation, economic growth and unemployment. For example, if a worker believes that consumer prices will rise sharply next year, she would demand a wage increase. Similarly, a homeowner with a fixed interest mortgage might make an early repayment if she expects price levels to fall, knowing that the real value of her mortgage debt will increase. In these cases, expectations about inflation could lead to changes in behaviour and in the aggregate, influence prices and become self-fulfilling.


The Impact Of The Cost Of Car Ownership On House Price Gradient In Singapore, Naqun Huang, Jing Li, Amanda Ross Jan 2018

The Impact Of The Cost Of Car Ownership On House Price Gradient In Singapore, Naqun Huang, Jing Li, Amanda Ross

Research Collection School Of Economics

This paper examines the extent to which a change in the cost of car ownership affects the house price gradient with respect to distance from the central business district (CBD). Theory suggests that if the cost of car ownership increases, then people will shift towards other modes of transportation, thus reducing house prices farther away from the CBD. However, the cost of car ownership is likely to be endogenous and correlated with various unobserved factors that also contribute to a change in the house price gradient. To obtain causal effects, we exploit a unique feature of Singapore’s car registration process. …


Volatility Spillovers And Linkages In Asian Stock Markets, Hwee Kwan Chow Dec 2017

Volatility Spillovers And Linkages In Asian Stock Markets, Hwee Kwan Chow

Research Collection School Of Economics

Diebold–Yilmaz spillover indexes are computed for weekly return volatilities based on daily benchmark stock indexes of the US, the UK, and 10 Asian countries. We found (i) the strengthening of overall volatility spillovers is not a temporary surge but persisted after the crisis; (ii) the susceptibility of individual Asian stock markets to inward volatility transfers is linked to its degree of openness; and (iii) the Asian bourses are becoming more important emitters of financial shocks since the crisis. Rolling regressions on volatility linkages reveal the relative dominance of the US over the Japanese and Chinese bourses, and the level of …


The Flow Of Funds In Asean, Philip C. Zerrillo Nov 2017

The Flow Of Funds In Asean, Philip C. Zerrillo

Research Collection Lee Kong Chian School Of Business

In his novel, Memoirs of a Geisha, Arthur Golden wrote, “Water can carve its way even through stone. And when trapped, water makes a new path.” Something similar seems to be happening with the flow of funds in ASEAN.


Enhancing Singapore’S Pension Scheme: A Blueprint For Further Flexibility, Koon Shing Kwong, Yiu Kuen Tse, Wai Sum Chan Apr 2017

Enhancing Singapore’S Pension Scheme: A Blueprint For Further Flexibility, Koon Shing Kwong, Yiu Kuen Tse, Wai Sum Chan

Research Collection School of Economics

Building a social security system to ensure Singapore residents have peace of mind in funding for retirement has been at the top of Singapore government’s policy agenda over the last decade. Implementation of the Lifelong Income For the Elderly (LIFE) scheme in 2009 clearly shows that the government spares no effort in improving its pension scheme to boost its residents’ income after retirement. Despite the recent modifications to the LIFE scheme, Singapore residents must still choose between two plans: the Standard and Basic plans. To enhance the flexibility of the LIFE scheme with further streamlining of its fund management, we …


Smarter Banking: Blockchain Technology In The Indian Banking System, Suparna Dhar, Indranil Bose Nov 2016

Smarter Banking: Blockchain Technology In The Indian Banking System, Suparna Dhar, Indranil Bose

Asian Management Insights

Indian banks are currently experiencing poor performance when it comes to debt risk. Burdened with high non-performing loans (NPL), they are putting at risk the funds of investors as well as India’s industrial and economic growth. In addition, the loan management process itself is riddled with inefficiencies. To overcome them, we propose to use blockchain technology.


Women In Microfinance And Its Social Effects On The Community: A Case Study In Hue, Vietnam, Madison Spigel Apr 2016

Women In Microfinance And Its Social Effects On The Community: A Case Study In Hue, Vietnam, Madison Spigel

Independent Study Project (ISP) Collection

Microfinance, a form of micro lending with no collateral, has been used as a way to finance the poor since the foundation of the Grameen Bank in Bangladesh by Muhammad Yunus in 1983. Since the Doi Moi period, the Vietnamese government has showed great interest in microfinance and has made this loan system available to both its rural and urban citizens through organizations like the Women‟s Union. Through detailed surveys and semi-structured in depth interviews of both women in the Union as well as related parties in Hue, I was able to study how microfinance is used by these women …


A Critical Examination Of Oil Wealth Management Strategies And Their Effects On Economic Growth In The Gulf Cooperation Council Countries, Caroline J. Belmont Jan 2016

A Critical Examination Of Oil Wealth Management Strategies And Their Effects On Economic Growth In The Gulf Cooperation Council Countries, Caroline J. Belmont

CMC Senior Theses

Despite their natural resources, the countries of the Gulf Cooperation Council (Kuwait, the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Oman) have failed to live up to their economic potential, primarily due to their dependence on a revenue source with volatile prices and political significance in an unstable region. This thesis argues that the best way to convert oil wealth into consistent long term growth is through diversification, both by investing in foreign assets and by growing domestic sectors that are independent from oil and gas prices. The research further investigates the primary tool these countries have used to …


Remittances Without Borders, Tan Swee Liang, S. N. Venkataramanan, Anil Kishora Nov 2015

Remittances Without Borders, Tan Swee Liang, S. N. Venkataramanan, Anil Kishora

Research Collection School Of Economics

A Pan-Asian Mobile Remittance Platform might just be the next big disruption in global remittances. One out of every 28 people lives in a country that they were not born in. As migrants, they are estimated by The World Bank to send home US$636 billion in 2017, with three-quarters remitted to developing countries. These remittances form a significant percentage of the Gross Domestic Product (GDP) of many of these developing countries. Given their magnitude and contribution to national economies, even a small reduction in remittance cost adds billions to these local economies. Mobile-to-mobile cross border remittances have recently shown that …


Is There A Future For The Euro?, Augustine H. H. Tan Jul 2015

Is There A Future For The Euro?, Augustine H. H. Tan

Research Collection School Of Economics

A Greek exit could spell the euro zone's disintegration. The Greek referendum last Sunday resoundingly backed its embattled government over its tortuous negotiations with the Troika of the European Central Bank (ECB), the European Union (EU) and the International Monetary Fund (IMF). Greece is now back at the negotiating table, which may ease the terms of loan repayment and lighten the reforms demanded or it may lead to a Grexit.


Greece Caught In Death Spiral, Augustine H. H. Tan Jul 2015

Greece Caught In Death Spiral, Augustine H. H. Tan

Research Collection School Of Economics

The country is trapped between twin evils akin to the sea monsters Scylla and Charybdis that threatened Odysseus' voyage.


Greece Caught In Death Spiral, Augustine H. H. Tan Jul 2015

Greece Caught In Death Spiral, Augustine H. H. Tan

Research Collection School Of Economics

The country is trapped between twin evils akin to the sea monsters Scylla and Charybdis that threatened Odysseus' voyage.


Role For Singapore In Mobile Phone Remittances, Tan Swee Liang, Singanallore Narayanan Venkataramanan, Anil Kishora Jul 2015

Role For Singapore In Mobile Phone Remittances, Tan Swee Liang, Singanallore Narayanan Venkataramanan, Anil Kishora

Research Collection School Of Economics

As sending money home this way takes off, the country can provide a Pan-Asian platform


Mochtar Riady [Indonesia, Banker], Mochtar Riady May 2015

Mochtar Riady [Indonesia, Banker], Mochtar Riady

Digital Narratives of Asia

Founder and Chairman of Lippo Group, Mochtar Riady gained the moniker "Magic Man of Banking" because of his ability to turn around and grow several of Indonesia's private banks, the most notable being Bank Central Asia (BCA). But his 15 years in BCA wasn't all smooth sailing. He speaks to DNA about his challenges in BCA, which saw him dealing with sensitive relationships with the Suharto government, as well as the firing of his own son for Forex speculation.


China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow Apr 2015

China's Yuan: Asia's Future Anchor Currency?, Hwee Kwan Chow

Research Collection School Of Economics

The yuan is becoming more widely used in pricing and settling intra-regional trade and investment. Asian currencies' movements are likely to shift more in tandem with the yuan, leading to it becoming one of Asia's lead currencies. Singapore is now the world's second-most- important offshore yuan trading hub after Hong Kong.


On The Effectiveness Of Housing Purchase Restriction Policy In China: A Difference In Difference Approach, Jerry X. Cao, Bihong Huang, Rose Neng Lai Mar 2015

On The Effectiveness Of Housing Purchase Restriction Policy In China: A Difference In Difference Approach, Jerry X. Cao, Bihong Huang, Rose Neng Lai

Research Collection Lee Kong Chian School Of Business

The Chinese government imposed the purchase restriction policy to rein in the housing bubble in 2010. Using a two-stage difference-in-difference approach and a comprehensive dataset covering the real estate markets across 70 cities, we find that the policy triggered substantial decline in the property price and transaction volume. Cities having higher reliance on real estate sector for fiscal revenue and economic growth experienced greater decline in housing prices following the policy implementation. However, the policy had no measurable effects on the nationwide construction boom, hinting the ineffectiveness of the policy to correct the housing bubble.


Curbing Corporate Inversions: A Study Of National And International Efforts To Establish Corporate Tax Equity, Scott Novak Dec 2014

Curbing Corporate Inversions: A Study Of National And International Efforts To Establish Corporate Tax Equity, Scott Novak

Independent Study Project (ISP) Collection

In recent years, the number of U.S. companies trying to merge with a foreign company and thereby reincorporate themselves in countries with a lower corporate tax rate – a practice known as corporate inversion – has skyrocketed. The public outcry in 2014 against corporate inversions led the U.S. Treasury to release a series of new anti-inversion regulations, and more policy changes are in the process of being debated. At the same time as this national discussion on the harmful effects corporate inversions have on the U.S. tax base is progressing, the Organization for Economic Cooperation and Development (OECD) is in …


Financial Literacy And Financial Inclusion Of Women In Rural Rajasthan, Emily Levi-D'Ancona Dec 2014

Financial Literacy And Financial Inclusion Of Women In Rural Rajasthan, Emily Levi-D'Ancona

Independent Study Project (ISP) Collection

Financial inclusion is an important step in development, as access to finances can help the poor build money and lift themselves out of poverty. In many parts of the developing world, and especially in India, microfinance is seen as a new approach to fighting poverty by bringing financial services, including low-interest loans, to the poor so that they can afford to start a business or invest and eventually gain self-sufficiency – in other words, a method of financial inclusion for the poor. However, microfinance in India cannot sufficiently reach the poor populations, especially those in rural India, and many of …


Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou Sep 2014

Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou

Research Collection School Of Economics

This paper studies whether changes in the exchange rate affect a country’s export structure, using an arguably exogenous sudden appreciation of renminbi on July 21, 2005 as the main source of identification. Employing combined regression discontinuity and difference-in-differences approach, we show that China’s export structure became more similar to that of the developed countries after the currency appreciation. We also find that the majority of the appreciation effect comes from the inter-firm resource reallocation rather than the inter-region or intra-firm resource reallocation.