1000 results for “Global Financial Crisis”.
This makes the affiliates banks achieve the same status of the subsidiary banks because the latter will be least affected in relation to the turmoil. If the crisis was hard on their parent banks, then the affiliates banks would have required to stand on their own. The domestic banks in contrast could receive financial bails during the financial crisis hence offsetting the difference that existed between them and subsidiary of the foreign banks (Mihaljek, 2011, p.44). During the global financial crisis, both the local and the foreign owned banks had to reduce their profit target hence, the diminishing factor of whether one is an affiliate or the other is a subsidiary. Therefore, the financial crisis affected all the banks independent of whether they were subsidiary or affiliates.
3. What are the strengths and weaknesses of the capital positions of Australian
and German banks in the wake of the GFC?
The establishment of…
Bibliography
Kyoon, B. & Sheridan, N. 2012. International Monetary Fund: Bank Capital Adequacy in Australia. WP/12/25,
Bordo, M., Redish, a., Rockoff, H., 2011. Why Didn't Canada Have a Banking Crisis in 2008 (or in 1930, or 1907, or ...)? Working Paper 17312
Mihaljek, D. 2011. Domestic Bank Intermediation in Emerging Market Economies During the Crisis: Locally Owned vs. Foreign-Owned Banks. BIS Papers No 54
International Monetary Fund, 2011. Germany: Technical Note on Banking Sector Structure. IMF Country Report No. 11/370
Global Financial Crisis
Since the early 2008, financial institutions started to go through chaos all over the globe. The stock markets were beginning to crash, businesses were shutting down, and investors were losing their money. This was to indicate that the entire globe had been hit by a period of economic crisis leading to a large number of corporate collapses of banks, investment companies, multinational corporations, etc. This downfall of economic markets is more commonly known as the 'The Global Financial Crisis' or the 'Global Recession of 2009' (IMF, April 2012). These times of crisis led to an increase in unemployment, as jobs were being terminated by laying-off employees to cut costs which led to an increase in poverty. Oil prices and prices of other commodities increased by tenfold, making affordability difficult for the average population. This was followed by a steep fall in international trade. Since the Great Depression of…
Bibliography
Andrews, E.L. (2008). Greenspan concedes error on regulation. New York Times.
APESB. (2010). APES 110 Code of Ethics for Professional Accountants. Accounting Professional and Ethical Standards Board.
Brown, C., & Davis, K. (2010). Australia's Experience in the Global Financial Crisis.
Davis, K. (2011). Regulatory Reform Post the Global Financial Crisis: An Overview. Melbourne: Melbourne APEC Finance Centre.
Global financial Crisis (GFC)
The present Global Financial Crisis (GFC) has been considered by the financial experts and economists as the worst financial crisis apart from 1930s Great Depression. The GFC led to the collapse of large financial institutions and downturns of the major stock markets globally. The crisis led to the failure of several key businesses and s significant decline in the economic activities. The GFC started on the U.S. mortgage markets leading to the significant turbulence and uncertainty in the global capital markets. (Kalinowski, Marcin 2011). The source of the financial crisis was due to the excessive risk taking because of the sustained low interests rates leading investors to maximize their profits. The root cause of GFC started in 2001 when many U.S. financial institutions increase the number of mortgage loans due low interest rates and the issue led to the increase in the prices of residential real estate.…
References
Crotty, J. (2009). Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'. Cambridge Journal of Economics, 33, 563 -- 580.
Douglas, A.W.(2009). The Global Credit Crisis of 2008: Causes and Consequences. International Lawyer, 43(1). Issue 1.
Cheung, W. Fung, S and Tsai, S.(2010). Spillover effect of credit risk and Global capital market interdependence and evidence from the 2007 -- 2009 global financial crisis. Applied Financial Economics, 20: 85 -- 103.
Kalinowski, M. (2011).Over -- the Counter Derivatives Market in view of the Global Financial Crisis 2007-2009. Economics and Banking:16.
Given that, they must take the steps necessary to ensure this health. This is a profound shift in priorities -- the banking sector was normally governed on the basis that the best outcome was increased profit-making opportunity. The Obama administration, with its predilection for increased regulation, realizes that the best outcome for the banking industry, its executives and its shareholders is not necessarily the best outcome for the nation as a whole.
It is interesting that the only major change to Fed policy was with respect to its bailout of AIG. The Federal Reserve Bank of New York funneled AIG $85 billion to keep that company out of bankruptcy, a move seen as essential to the preservation of the global financial system. Necessary or not, the move was unprecedented and marked new territory for Fed policy. The Fed's approach to monetary policy, on the other hand, has not changed. They…
Works Cited:
Knowledge @ Wharton: The Subprime Crisis website. Retrieved May 12, 2009 from http://knowledge.wharton.upenn.edu/special_sections/subprime/
No author. (2009). Overview. New York Times. Retrieved May 12, 2009 from http://topics.nytimes.com/topics/reference/timestopics/subjects/c/credit_crisis/
Boeri, Tito & Guiso, Luigi. (2007). Subprime Crisis: Greenspan's Legacy. Vox. Retrieved May 12, 2009 from http://www.voxeu.org/index.php?q=node/488
Trehan, Veeta. (2007). The Mortgage Market: What Happened? NPR. Retrieved May 12, 2009 from http://www.npr.org/templates/story/story.php?storyId=12561184
Global Financial Crisis: An Examination of One Company's Performance Indicators
The global financial crisis of the recent past has been the subject of much commentary, investigation, and debate from people around the globe and from all walks of life. Despite the fact that politicians and armchair policy makers have gone round after round in debates regarding the causes and the ultimate effects of this worldwide economic downturn, the real effects of the recession on individual organizations can be difficult to ascertain. Different companies are impacted in different ways and to varying degrees based on a variety of factors, of course, but it is still quite useful to examine some particular instances of the recession's impact in order to come to a more concrete understanding of what a financial crisis and tightening of capital means for business organizations around the globe, operating in various sectors.
An examination of The Hour Glass, Ltd.…
References
Chor, D. & Manova, K. (2011). Off the cliff and back? Credit conditions and international trade during the global financial crisis. Journal of International Economics
Gilman, S. (2011). Analyzing Financial Statements. New York: BiblioBazaar.
Hour Glass Ltd., The. (2005). Annual Report. Accessed 4 February 2012. http://www.thehourglass.com/annual.asp
Hour Glass Ltd., The. (2006). Annual Report. Accessed 4 February 2012.
The banks repackaged their risks "into complex financial products and sold these to other financial institutions.
pril 2007 witnessed the collapse of sub-prime lender New Century Financial and this collapse was only the first of many casualties. The British government nationalized the mortgage lender Northern Rock and soon afterwards Bear Stearns collapse due to subprime loans. Fannie Mae and Freddie Mac were nationalized in September 2008 because of the great losses suffered due to mortgage defaults. Soon afterwards Lehman Brother, the United State's fourth largest investment bank collapse and this is stated to have "greatly intensified the financial crisis." (Jawai, 2008, p.2)
V. TIME SEQUENCE OF THE GLOBL FINNCIL CRISIS
Month
Year Event
July
2007
Financial crisis begins with the United States subprime mortgage crisis
ugust
2007
US financial crisis reaches global proportion due to interaction between the world banks and Hedge Funds with subprime mortgage backed securities.
ugust
2007
The European Central Bank injects 95 billion euros into the European banking…
Organization Behavior
Global Financial Crisis
The most recent financial crisis has badly affected the Global economy. Individuals, businesses, and Governments; every entity has taken its impacts in one way or another (Burger, Coelho, Karpowicz, & Tyson 2009). Since its arrival, financial crisis has posed big threats to the world markets. The countries are trying to overcome the bad impacts of this crisis but have failed to recover their positions due to severe recession and worsening economic conditions (U.S. Department of the Treasury 2012). Economists and Financial Analysts have discussed various reasons for this Global financial crisis; a big downturn in the financial and housing mortgage sector is said to be the biggest reason of all (Donath & Cismas 2009). The Global financial crisis has hit almost all the sectors of the economy which have not only hampered the industrial growth in the countries, but also caused serious challenges and issues for the…
REFERENCES
Barth, J.R. 2009, the rise and fall of the U.S. mortgage and credit markets: a comprehensive analysis of the market meltdown. Hoboken, N.J: J. Wiley & Sons
Burger, P., Coelho, M.D., Karpowicz, I., & Tyson, J. 2009, the effects of the financial crisis on public-private partnerships. Washington, DC: International Monetary Fund working paper
Chorafas, D.N. 2009, Financial Boom and Gloom: The Credit and Banking Crisis of 2007-2009 and Beyond. U.S.: Palgrave Macmillan Studies in Banking and Financial Institutions
Corker, B. 2012, Senate Banking Committee Hearing on Financial Crisis. Available from [Accessed August 4th, 2012]
SEC that features a short background on what the SEC is and when it was formed. It has interview questions and responses and a mini literature review to provide context from which to examine and recommend steps for the SEC to maintain control of major banks to avoid the Global Financial Crisis that happened in 2008.
The Great Depression and the turmoil that 1929 brought to the United States contributed to various changes within the financial market. Such effects are still experienced and felt today. The crises of that time caused public confidence to plunge key areas of the market with the only remedy being the passing of the Securities and Exchange Act in 1934 and the Securities Act in 1933. These two laws had three basic intentions that offered investors a more reliable way to collect information. The first was forcing public companies that offered capital in exchange for…
References
Ciro, Tony. 2016. The Global Financial Crisis: Triggers, Responses and Aftermath. Routledge.
Ferran, Eili-s. 2012. The Regulatory Aftermath of the Global Financial Crisis. Cambridge: Cambridge University Press.
Francis, Theo. 2008. "SEC's Cox Catches Blame for Financial Crisis." Bloomberg.Com. http://www.bloomberg.com/news/articles/2008-09-19/secs-cox-catches-blame-for-financial-crisisbusinessweek-business-news-stock-market-and-financial-advice .
Global Financial Crisis and esurgence of Keynesian Economic Model
The 2007-2008 global financial crises have been identified as the worst financial crisis apart from the 1930s Great Depression. The collapse of Lehman Brothers and two Bear Stearns in 2007 had been attributed to subprime mortgage crisis that led to the credit crunch, dry up of liquidity, bank failures, massive layoffs and private defaults. Moreover, the crisis threatens the collapse of many large financial institutions, which the national government prevented through the bailout operations. In the contemporary economic environment, global economy is interdependence making the U.S. financial crisis to contribute to the European debt crisis. The crisis has been the primary cause of failure of key businesses, prolonged unemployment and foreclosure. Financial crisis is the disruption of financial markets where markets fail to channel fund efficiently, which consequently prevent productive investment opportunities.
Several factors have been attributed to the global financial crisis.…
Reference
Bianco, K.M.(2008). The Subprime Lending Crisis: Causes and Effects of the Mortgage Meltdown.CCH Mortgage Compliance Guide and Bank Digest.
Chomsisengphet, S, and Pennington-Cross, A, (2006), The Evolution of the Subprime Mortgage Market, Federal Reserve Bank of St. Louis Review, 88(1), pp. 31-56.
Genetski (2011) Links the global financial crisis to the Keynesian economic theory by pointing out that policy making mistakes have contributed to the financial crisis. Afro Articles.
Investopedia (2009), What is a subprime mortgage, Accessed 07 July 2015, From http://www.investopedia.com/ask/answers/07/subprime-mortgage.asp
This is a poor use of the company's capital, since the global economy remains weak and since Qantas faces intense competition on numerous fronts. hile increasing the debt component of the capital structure would lower the overall cost of capital, it would also increase the risk that the company faces. The operating environment is turbulent, not just from competition but from high fuel costs as well. This implies that any additional risk would compromise the security that Qantas currently has with respect to meeting its debt service obligations.
hile Qantas' balance sheet looks remarkably unchanged as the result of the global economic crisis, this is only because of the proactive measures the company took at the outset of the crisis. The equity issue allowed the company to maintain its capital structure at a time when profits (and therefore retained earnings) were declining sharply. The company also made a number of…
Works Cited:
de Bruyn, C. (2009). Global airline industry to suffer $4.7 billion loss this year. Engineering News. Retrieved October 9, 2011 from http://www.engineeringnews.co.za/article/global-airline-industry-to-suffer-47bn-loss-this-year-iata-2009-03-24
Eslake, S. (2009). The global financial crisis and its impact on the Australian economy. ANZ Bank. Retrieved October 9, 2011 from http://www.anz.com/singapore/en/resources/f/9/f9da17804d6914aa9fa09f17f89c601a/Saul-Eslake-Presentation-Singapore-Mar-2009-en.pdf?CACHEID=8b6320004d66a42f9899f9aabbf9c43a
Ghosh, P. (2010). Global airline industry poised to soar in coming decades. International Business Times. Retrieved October 9, 2011 from http://www.ibtimes.com/articles/63951/20100920/airlines-recession-pilots-boeing.htm
Govindasamy, S. (2009). Qantas cuts to tackle crisis. Airline Business. Retrieved October 9, 2011 from http://www.flightglobal.com/news/articles/qantas-cuts-to-tackle-crisis-325425/
Global Financial Strategy
Critical assessment of the proposal to raise capital locally rather than in the UK
In the analysis of the proposal of raising capital locally rather than in the UK, it is essential to consider four critical aspects: costs, risks, benefits/advantages, and limitations/disadvantages. In the presentation of this critical assessment, the focus will be on the four factors or aspect in order to offer reliable analysis of the situation.
Costs
In the process of raising capital locally rather than in the UK, the organization must incur several costs. One of the essential costs is the professional cost. This refers to the amount of money or financial resources paid to the legal advisors, auditors, and reporting accountants in order to execute the process of raising the capital effectively and appropriately. Another important aspect of cost is the trading cost. These are direct costs including the brokerage commissions and financial resources paid by investors…
References
Burnham, P 2010, 'Class, Capital and Crisis: A Return to Fundamentals', Political Studies Review, 8, 1, pp. 27-39,
Carvalhal, A, & Camara Leal, R 2013, 'The World Financial Crisis and the International Financing of Brazilian Companies', Brazilian Administration Review (BAR), 10, 1, pp. 18-39,
'Chad' 2013, Columbia Electronic Encyclopedia, 6Th Edition, pp. 1-3,
Chana Kok, T, & Yap Voon, C 2011, 'Risk Factors of Commercial Banks in Malaysia', Journal Of Modern Accounting & Auditing, 7, 6, pp. 578-587,
Investors from all over the world sunk money into Dubai-based projects, including those of Dubai orld. The global financial crisis, however, has slowed the Dubai economy to such a degree that it can no longer meet its debt obligations. Global investors who had been counting on high returns at relatively low risk are now seeing the value of their debt holdings diminish.
The fluid movement of capital around the world has allowed for thousands of powerful investors to put money into Dubai's economic development, which spreads the risk of such development around the world. Thus, when Dubai's economy falters and the state-run company cannot pay its debts, it reverberates around the global financial markets, which now must deal with Dubai's apparent lack of creditworthiness.
orks Cited:
Giddy, I. (1993). Global Financial Markets. Boston: South-estern College Publishing.
No author. (2009). Standing still but still standing. The Economist. Retrieved November 27, 2009 from http://www.economist.com/businessfinance/displayStory.cfm?story_id=14977157
Works Cited:
Giddy, I. (1993). Global Financial Markets. Boston: South-Western College Publishing.
No author. (2009). Standing still but still standing. The Economist. Retrieved November 27, 2009 from http://www.economist.com/businessfinance/displayStory.cfm?story_id=14977157
The second purpose of the $700 purchase of troubled assets is to create a market for the securitized versions of these assets. As a result of the crisis, the market for these assets became illiquid. The value of securitized debt obligations became near zero, which severely impacted the balance sheet of all banks that held these assets. By creating a secondary market for these products, the government hopes to increase their value. This will improve the balance sheets of the banks.
The second key clause in TARP is that banks selling troubled assets to the government are required to give the government warrants. This, in theory, protects the government from losses. The theory is that the banks will see an increase in value as a result of the government's efforts, allowing the government to profit from the warrants.
Ancillary to TARP was the FDIC's excusing of troubled assets in its loss-share plan.…
Works Cited:
Dash, E. & Sorkin, a. (2008). Government seizes WaMu and sells some assets. New York Times. Retrieved November 3, 2009 from http://www.nytimes.com/2008/09/26/business/26wamu.html
Smith, a. & Yandle, B. (2009). Too big to fail, read, count or stop. Cato Institute. Retrieved November 3, 2009 from http://www.cato.org/pubs/regulation/regv32n2/v32n2-11.pdf
McIntire, M. (2009). Bailout is a windfall to banks, if not to borrowers. New York Times. Retrieved November 3, 2009 from http://www.nytimes.com/2009/01/18/business/18bank.html?_r=2&pagewanted=1
White, L. (2009). Federal Reserve policy and the housing bubble. Cato Journal. Retrieved November 3, 2009 from http://www.cato.org/pubs/journal/cj29n1/cj29n1-9.pdf
Qantas Airlines
Strategic Management of Qantas in the Light of Global Financial Crisis
The Global Economic/Financial Crisis, also known as GFC has influenced the performance of all organizations negatively in the current business environment. Besides increasing the costs of operations, GFC threatens the use of human resources in different organizations. With such a premise, this study analyzes the influence of the crisis on the performance, sustainability, and competitiveness of most of the airline companies. In specific, it analyzes the effects of the crisis on the performance of the Qantas Airlines, an Australian carrier known globally for its high quality services. As such, adopting the stated recommendations in the analysis will help reduce the threats facing the Qantas Airlines significantly because of the Global Financial Crisis.
Background
The worldwide economic crisis has influenced the performance of all sectors of the economy negatively in the current global business environment. Among the highly affected sectors is the…
References
Baum, J.A.C., & Lampel, J. (2010). The globalization of strategy research. Bingley:
Emerald.
Berlatsky, N. (2010). The global financial crisis. Detroit, Mich.: Greenhaven Press.
Glaesser, D. (2006). Crisis management in the tourism industry (2nd ed.). Oxford: Butterworth-Heinemann.
Causes of Financial Crisis
Ireland developed high growth rates based on rapid expansion of credit and a buildup of personal debt fueled by rising property prices (Ireland's economic crisis: how did it happen and what is being done about it?). This lead to risky bank lending practices. Banks also engaged in short-term borrowing from wholesale money markets causing increased risk appetite. Supervisors and regulators failed to identify and act on the emerging risks. Where construction was a large part of the employment and economy, it caused high unemployment rates and major bank losses in a bubble burst when household income could not afford to pay mortgage debt. Property value decreased making it harder to recover the mortgage value for banks. In turn, it created difficulty for the banks to pay back the short-term borrowing to the wholesale money markets. Where risks were not identified, no plans were put in place for…
References
Ireland's economic crisis: how did it happen and what is being done about it? 22 Feb 2012. article retrieved from http://ec.europa.eu/economy/irelands_economic_crisis/index_en.htm . 1 Mar 2014.
Long, Stephen. Explainer: Behind the Cyprus financial crisis. 22 Mar 2013. article retrieved from http://www.ace.net.au/news/2013-03-22/explainer-behind-the-cyprus-financial-crisis/4588736. 1 Mar 2014.
Pettinger, Tejuan. Portugal Economic Crisis. 4 Dec 2012. article retrieved from http://www.economichelp.org/blog/6423/economics/portugal-economic-crisis. Mar 2014.
Q&A: Greece's financial crisis explained. 26 Mar 2010. article retrieved from http:www.cnn.com/2010/Business/02/10/greek.debt.ganda/index.html. 1 Mar 2014.
Governance Following the Financial Crisis
Principles of Good Governance Following the Global Financial Crisis
Many high profile companies suffered a downfall following the 2008 global financial crisis. The meltdown spanned across various nations including the top world economies. Accusations on the cause of the downfall pointed to the failure by institutional investors inadequate monitoring of investments. In 2007, the collapse of the subprime mortgage market in the U.S. marked the beginning of the financial crisis. The escalating default rates and the decline in housing prices contributed to the economic meltdown. Companies such as AIG, Freddie Mac, Lehman rothers, and Freddie Mae filed for bankruptcy protection (United Nations Conference on Trade and Development [UNCTAD] 2010). A series of government bailouts followed various financial institutions including HOS, Citigroup, and Washington Mutual, amongst others. Key policy makers fault weaknesses in corporate governance that explain the financial crisis.
Following the adverse economic implications, top world economies…
Bibliography
Bainbridge, SM 2012, Corporate Governance after the Financial Crisis, OUP USA, New York
de Lange, DE 2011, Cliques and Capitalism: A Modern Networked Theory of the Firm, Palgrave Macmillan, New York
Hodne, Murphy, Ottenbacher, Ruggles 2013. 'Australia and the United States: A Comparison and Contrast of Corporate Governance Practices' Drake University. Available from http://faculty.cbpa.drake.edu/dmr/0301/DMR030105S.pdf (2013)
United Nations Conference on Trade and Development [UNCTAD] 2010. 'Corporate Governance in the Wake of the Financial Crisis' Selected International Views. Available from http://unctad.org/en/Docs/diaeed20102_en.pdf (October 2010)
Political Science
Canada: Comparative Politics
Canada, like any other nation suffered terribly from the effects of the global financial crisis. The economic impacts from Global Financial Crisis were resolved through Canada's political and provincial administration structures. The Great ecession further intensified such trends towards elements of the precarious unemployment across Canadian provinces such as British Columbia mostly with certain population groups. This paper intends to illustrate how the global fiscal crisis has affected provincial economies in Canada.
Global Financial Crisis Impact on Provincial economies
The goal was to establish suitable forms of welfare states that mediated on the effects of forces of the global market forces through the determination of levels of state intervention within the provincial economic marketplaces. The liberal welfare regime in Canada as compared to the conservative one in Germany and social democratic from Scandinavian countries focused less on welfare provision and citizen security. This translated into a greater commoditization and…
References
Brownsey, K., & Howlett, M. (2001). The Provincial State in Canada: Politics in the Provinces and Territories. Peterborough, ON: Broadview Press.
Ciro, T. (2013). The Global Financial Crisis: Triggers, Responses and Aftermath. New York: Ashgate Publishing, Ltd.
Dunn, C. (2003). Provinces: Canadian Provincial Politics, Second Edition. Toronto, ON: University of Toronto Press.
Farlow, A. (2013). Crash and Beyond: Causes and Consequences of the Global Financial Crisis. New York: Oxford University Press.
International Lending and Financial Crisis
One of the major global financial crises is the financial crisis of 2007-2009. The financial recession that occurred between 2007 and 2009, encompasses the housing bubble that instigated the financial crisis, federal expenditure, and foreign exchange rates. Also, referred to as the 'Great recession', this global financial crisis had adverse impacts not only on the financial markets but also on the economies of nations across the globe, being the worst financial crisis in history. The financial crisis emanating from the U.S. affected other nations owing to financial globalization and led to discussions regarding restructuring of the international financial system (Ozkan, 2012). In particular, the global financial crisis originally started in and adversely impacted the financial sector of developed nations, especially in the United States, and subsequently had a detrimental impact of the real sector of affected nations as the financial institutions in the United States allowed…
References
Ahid, M., & Augustine, A. (2012, August). The impact of global financial crisis on Jordan.
http://www.ccsenet.org/journal/index.php/ijbm/article/view/16475/13021
Argandona, A. (2012). Three ethical dimensions of the financial crisis. Retrieved from: http://www.iese.edu/research/pdfs/di-0944-e.pdf
Boundless. (2016). Limitations of Monetary Policy. Retrieved from: https://www.boundless.com/economics/textbooks/boundless-economics-textbook/monetary-policy-28/impacts-of-federal-reserve-policies-119/limitations-of-monetary-policy-473-12569/
financial crisis a "crisis of capitalism?
Compare and contrast the theories of Susan Strange, Karl Polanyi and Giovanni Arrighi. Explain how three of them accessed issues of Financial crisis and its relationship with capitalism
Starting from 2008 onwards, we are currently experiencing an unremitting state of economic recession. Each of the three theorists stated in this essay have different perspectives of whether or not the recession indicates crises of capitalism. Whilst Susan Strange and Karl Polanyi have a more optimist perspective on the subject and indicate that rather than crisis, the recession may, in effect, be, in the first case, a misplaced paradigm (or different, tortured perspective) and in the second case, only a slight wrench that necessitates government intervention for amending a temporary situation, Arrighiri sees the situation as indeed manifesting something that is intrinsically, irremediably, and inherently wrong in the structure of capitalism itself. Each of these views will…
References
Giovanni Arrighi (2000) Workers North and South) in C. Leys and L. Panich, eds., The Socialist Register. London: The Merlin Press
Giovanni Arrighi (1996). Capitalism and the Modern World-System: Rethinking the Non-Debates of the 1970s"
http://www2.binghamton.edu/fbc/archive/gaasa96.htm
Giovanni Arrighi (2001) Braudel, Capitalism and the New Economic Sociology, Review, XXIV, 1
Global Credit Crisis on UK Northern ock Bank
The lingering effects of the Great ecession of 2008 still remain, but most authorities appear to agree that the corner has been turned and global economic recovery is well underway. The cause of the Great ecession of '08 was primarily the sub-prime mortgage meltdown that occurred in the United States, and its effects were already being experienced as early as September 2007, when the United Kingdom experienced a mass market run on Northern ock Bank, the first in the nation's history. The global credit crisis that resulted from these events has been felt in differing degrees by the nations of the world, but few countries in the increasingly globalized international community have been entirely immune from its effects. To gain new insights into this fiasco, this paper provides a corporate profile for Northern ock Bank, followed by a review of the relevant…
References
'Corporate Profile.' (2011). Northern Rock Bank. [online] available: http://companyinfo.
northernrock.co.uk/investorRelations/corporateProfile/.
'Directors' report and financial statements for the period 3 July 2009 to 31 December 2009.'
(2010). Northern Rock Bank. [online] available: http://companyinfo.northernrock.co.uk / downloads/2009_NR_plc_Financial_Report_and_Accounts.pdf.
Financial Derivatives
This study emphasized the importance roles of financial derivatives, which has been known for the last decade and its effects on the Global financial crisis. It further analyzes the impact of financial derivatives and how it can be controlled to prevent corporations from incurring a lot of risks. It also explains the existence of financial derivatives since 1970, to the recent Global Financial Crisis which occurred in the 2006.
Risk is a feature associated with all productivity. As a result, financial markets adjust themselves to the fluctuation of exchange and interest rates. Hedging risk, these corporations highlight the importance of risk management tools known as Derivatives. Derivatives are defined as financial tools providing investors with effective solutions when avoiding risk caused from market volatility (Dodd, 2006). Financial derivatives are considered to be an effective risk management tool associated with Financial Engineering creating solutions to financial problems (Marks, 2010). In this…
Works Cited
Angel, James, and Douglas McCabe. "The Business Ethics Of Short Selling And Naked
Short Selling." Journal Of Business Ethics 85.(2009): 239-249. Business
Source Elite. Web. 1 Apr. 2012.
Barth, Mary E., and Wayne R. Landsman. "How Did Financial Reporting Contribute To
Conduct a benchmarking analysis
As explained by Prasnikar, Debeljak and Ahcan (2005) benchmarking depends on comparing between two activities of an organization and another. In our case, we shall compare McDonald's activities and those of its competitors, Burger King and Wendy's.
• Best practices
McDonald's as a main player in the fast food industry is concerned with best practices with the industry. To this end, the corporation has adopted some best practices that include sustainability, nutrition and well-being, employee experience ad environmental responsibility. Accordingly, McDonald's protects the environment by going green and using methods that protect and conserve the environment. McDonald's also encourages its suppliers to uphold effective environmental. The company treats it employees well and offers them good working conditions as a way retaining them. Employees are offered training and promoted accordingly. McDonald's also adheres to ethical conduct its operations and food items are produced ethical. Similarly, the company also takes part…
During times of extreme pressure from the supply or demand side, the central bank is prepared to go in and support the currency, to help provide stability. This is significant because traders around the world; will use the major currencies as a way to hedge themselves against different risks. Where, they will view the weakness of one country's currency as a sign that they could be facing a number of different economic challenges. (Fixed vs. Floating Exchange Rate, 2007) a good example of this can be seen with the ritish pound, where the ank of England decided to keep interest rates at .5%. This is important, because the increase in rates could be seen as a sign that economic stability could be returning to the country, which would help to reverse the downward pressure on the pound. However, the fact that they decided to keep interest rates unchanged, means…
Bibliography
12 Myths of International Trade, 1999, Meti, viewed 3 May 2010,
Bank of England's Decision Affects Pounds Performance, 2010, to Forex News, view 3 May 2010,
Bretton Woods Agreement, 2010, Investopedia, viewed 2 May 2010, .
Fixed vs. Floating Exchange Rate, 2007, Article Base, view 3 May 2010,
The article that was written by Conley (2011) discusses the impact that collateralized debt obligations (CDO's) would have upon the subprime loans. These were created in 1987, by the Wall Street firm Drexel urnham. In this product, the investment bankers would take a number of different articles and combine them together as one investment. The various assets that were used included: junk bonds, mortgages and other high yielding investments from the debt. The idea with these different products is that the investment bank could offer customers a stated return on their investment. The way it worked is the brokerage firm would distribute each investor, the stated amount of returns that they would make off of the tranche (the CDO investment). This was derived using a complex mathematical formula that would divide the total amount of interest that was received, from the various high yielding products that were inside the CDO.…
Bibliography
Case Study, 2011, Investopedia. Available from: [14 February 2011]
Citi Merger a Mistake, 2008, Huffington Post. Available from: [14 February 2011].
Deregulation Redux, 2011, FCIC. Available from: {14 February 2011].
Derivatives, 2011, Financial Dictionary. Available from: [12 February 2011].
financial system trials tribulations starting early 2008. Indicate major reasons contributed financial market's collapse. Please leave a space reason. -College Level paperOrder ID
Five major factors that contributed to the financial market's collapse
eason 1: Historically low interest rates
The first major contributor to the collapse of the worlds' financial markets was the housing bubble. The Federal eserve dropped interest rates to historically levels after the September 11 terrorist attacks and the dot.com bubble burst. This was to generate more spending and borrowing and propel the nation out of recession. Low interest rates encouraged people to buy on credit. Many people took out mortgages, thinking that this was a good time to buy a house, and many others took out mortgages hoping to 'flip' a house, or sell it for more than they paid for it, as they were convinced that it was impossible for housing prices to go down ("The reasons…
References
Shah, A. "Global financial crisis." Global Issues. 2010. [May 24, 2011]
http://www.globalissues.org/article/768/global-financial-crisis
"The reasons behind the global economic crisis." Fair Loan Rate. 2008.
global branding of Stella Artois
Porter's 5-forces analysis of the beer industry
Bargaining power of buyers
The bargaining power of buyers is very high in the beer industry. Consumers have many choices, spanning from other alcoholic beverages to other brands of beer, including smaller labels as well as the major brands. Also, beer is not strictly a necessity. Consumers can conceivably 'do without' if the price is too high.
Bargaining power of suppliers
The bargaining power of suppliers is also very high in the beer industry. Beer companies are critically dependent upon obtaining specific input goods to create their brews. They need a high volume of input goods to produce their product, and they need a timely and steady supply. Good relationships with bottlers and distributors are also required to take the product to market.
Competitive rivalry
Competitive rivalry is extremely high. All of the major beer brands are fighting to brand themselves as unique because…
References
Caves, R.E. & M.E. Porter. (1977). From entry barriers to mobility barriers: Conjectural decisions and contrived deterrence to new competition. The Quarterly Journal of Economics, 91 (2): 241-262. Retrieved: http://www.jstor.org/stable/1885416
Sinha, S.K. & Zaid Ahmad. (2009). Global financial crisis - with special reference to insurance industry. African Journal of Marketing Management, 1(8): 184-189,
Retrieved at:
http://www.academicjournals.org/ajmm/PDF/Pdf2009/Nov/Sinha%20and%20Ahmad.pdf
Another significant factor that affected the financial crisis of 2008 was role that Wall Street played in worsening the impact of the financial disaster that was to come. Specifically, a number of prominent Wall Street companies effectively "bought in" to the housing shortage by investing in securities that are financially supported by loans of a dubious nature. A recent report compiled by the Financial Crisis Inquiry Commission alludes to the fact that such investors were well aware of the substantial risk that these investments represented, yet pursued them anyway due to avaricious tendencies (Chan, 2011).
The involvement of banks in the financial crisis goes well beyond issuing loans that were of a suspect nature to people who required subprime loans. To that extent, this degree of culpability on the part of banks can actually be traced to the Securities and Exchange Commission, another federal government entity, that was decidedly lax about…
Bibliography
Chan, S. (2011). "Financial Crisis Was Avoidable, Inquiry Finds." The New York Times. http://www.nytimes.com/2011/01/26/business/economy/26inquiry.html
Davis, J.F. (2008). "The Cause of the 2008 Financial Crisis." Aim.org. http://www.aim.org/guest-column/the-cause-of-the-2008-financial-crisis/
Shah, a. (2010). "Global Financial Crisis." Globalissues.org. http://www.globalissues.org/article/768/global-financial-crisis
Economics
There is a concerted effort to bring developing nations into the global trade system. There are certainly success stories of nations that have been able to enjoy advantages from joining this system -- China in particular comes to mind -- but there is room for debate as to whether or not the neoliberal trade system is actually desirable for developing nations. There are a lot of issues at play, starting with the basic economics.
In general, the theory of comparative advantage argues that nations should open up trade, so that they can produce the goods in which they have a comparative advantage and sell them to buy the goods in which they do not. There are some fairly significant real world limitations to this theory, however. One is that trade is usually governed by absolute competitive advantage, not comparative advantage. If a company wants a good at a low cost, it…
References
Masnick, M. (2016). Countries sign the TPP ... whatever happened to the debate we were promised before signing? TechDirt. Retrieved April 20, 2016 from https://www.techdirt.com/articles/20160203/15151133510/countries-sign-tpp-whatever-happened-to-debate-we-were-promised-before-signing.shtml
Nguyen, J. (2016). 5 economic effects of country liberalization. Investopedia. Retrieved April 20, 2016 from http://www.investopedia.com/articles/economics/11/economic-benefits-country-liberalization.asp
They feel they have survived and overcome harsh business environment and want to operate in risky markets like razil. Some of them benefited from privatization or part-privatization. The current government dislikes the notion of privatization, which tends to improve businesses. ut it likes national champions to succeed abroad. A government minister wrote the World Economic Forum in 1996 that it was not in the interest of the government for razilian companies to expand abroad. He said that capital was limited and they wanted to create local jobs. razil's laws also make the sending of profits from foreign subsidiaries back to razil impossible. They also refuse to recognize losses incurred abroad in company accounts. Some of the olivian assets of foreign investor Petrobras were nationalized by razil's president, Evo Morales. Multinationals are likely to encounter similar obstacles, but commodity producers, consumers or traders can be sure that their built-in comparative…
BIBLIOGRAPHY
Ardichvili, a. et al. (2010). Ethical business practices in BRICs. Society for Business
Ethics: Center for Ethical Business Cultures. Retrieved on December 13, 2010 from http://www.cebglobal.org/uploadedfiles/Ethical_Business_Practices_in_BRICs.pdf
Banham, R. (2010). The party gets started in Brazil. Treasury & Risk: the Free Library.
Retrieved on December 13, 2010 from http://www.thefreelibrary.com/the+party+gets+started+in+Brazil%3A+multinational+corporations+are...-a02212023634
Korean Financial Crisis in the Late 1990s: Lesson for Current Euro Area
The objective of this study is to examine what is unique or different about the Korean financial crisis as compared to other Asian financial crises and to determine the primary causes of the financial crisis in Korea. This work will further examine the government response to the crisis and what it is that can be learned from the Korean financial crisis and applied in Korea to the Euro Area.
The major components of the Korean financial system in the 1960s and 1970s are stated in reports to have been nationalized with "lending targeted toward favored sectors and firms including the exports and heavy industries. (Jeon and Miller, 2005) Regional banks came on in 1967 and could only operate in their own provinces, which provided encouragement for development that was regionally-based. In the early 1980s, plans were made for deregulation of…
Bibliography
Athens University of Economics and Business. Cyprus Economic Policy Review, Vol. 4, No. 1, pp. 89-96 (2010) 1450-4561
Causes, Policy Response, and Lessons. Presentation at The High-Level Seminar on Crisis Prevention in Emerging Markets Organized by The International Monetary Fund and The Government of Singapore. Singapore July 10-11, 2006.
Global Economic Review: Perspectives on East Asian Economies and Industries. Retrieved from: http://www.tandfonline.com/loi/rger20
Jeon, BN (2012) From the 1997-98 Asian Financial crisis to the 2008-09 global economic crisis: lessons from Korea's experience. 1 Feb 2012.
Nevertheless, more crucial remained the truth that the dollar itself oscillated severely as against the yen that is another vital currency for carrying out business for the affected nations. The fading of the dollar within the decadal period from 1985 to 1995 made a huge boon in the trade surplus for the affected nations. Thereafter, the acute turnaround began in 1995 wiped their enormous edge in price and damaged their current account situation, which in its effect spoiled the trust in the market created an appropriate climate for the crisis. To put it differently, it was not the system of linking the dollar in its own which is responsible. The cause was the non-observance of the basic instability in the economies of the nations and the uncontrolled oscillation of the exchange rate of dollar-yen. The dilemma was the outcome of the huge quantity of unstable capital and the blind…
References
Akyuz, Yilmaz. Causes and sources of the Asian Financial Crisis. Paper presented at the Host Country Event: Symposium on Economic and Financial Recovery in Asia. UNCTAD X, Bangkok. 17 February 2000. Retrieved at http://www.unctad-10.org/pdfs/hi_akyuz.en.pdf. Accessed on 3 February, 2005
Chakravarthi Raghavan. G -24 calls for international regulation of financial markets. Retrieved at http://www.twnside.org.sg/title/g24-cn.htm . Accessed on 3 February, 2005
Fischer, Stanley. Reforming the International Monetary System. November 9, 1998.
Retrieved at http://www.imf.org/external/np/speeches/1998/110998.htm . Accessed on 3 February, 2005
Income Distribution Gap
The global fiscal crisis will be borne by the millions of people who do not have a share in the benefits that were derived from the global economic expansions that occurred previously. Not only has the gap widened between low wage earners and high wage earners in nations across the globe, the world's income gap distribution has widened. Economists have long concluded that a limited degree of income inequality contributes to worker motivation, promotes innovation, and rewards talent and effort. Nevertheless, when income differences become too great, the dynamics become counter-productive. unaway income inequality is considered to be a destructive force, such that "rising income inequality represents a danger to the social fabric" ("Board of Canada," 2012). The repercussions from excessive income inequalities include children not attending school so they can contribute to household earnings by going to work, increased crime rates, lower life-expectancies, and malnutrition.
In the…
References
Acemoglu D (2009) Introduction to modern economic growth. Princeton, NJ: Princeton University Press.
Card D. And DiNardo JE (2002). Skill biased technological change and rising wage inequality: Some problems and puzzles. Journal of Labor Economics, 20(4), 735.
Jones CI (2002) Introduction to economic growth (2nd ed.). New York, NY W.W. Norton.
Milanovic, B (2005) Worlds apart: Measuring international and global inequality, 180 -- 81. Princeton, NJ: Princeton University Press.
Financial Case Study
Company Overview
McDonald Corporation specializes in the food service globally. The company started operation in 1940, and in 1967, the MacDonald registered its trademark. The primary product of McDonald includes chicken, hamburgers, soft drink, French fries, dessert and milkshakes. Over the years, the company has expanded its menu and included wraps, fish, salads fruits and smoothies. Presently, the company operates its business through either affiliate or franchise globally and the company realizes bulk of its revenues from the fees collected from franchise. Moreover, the company derives its revenues from the royalties and rents. Since MacDonald has started operations, the company has enjoyed rapid growth. At the end of the 2012 fiscal year, the company recorded the annual revenues of more than $25.7 billion with the net profits of $5.5 billion. The company also recorded the market capitalization of $94.5 billion. The company operates in 119 countries and presently, it…
Reference
McDonald. (2012) Annual Report, MacDonald Corporation .
Morning Star (2012).McDonald's Corporation MCD. USA.
Global Financial Crisis and the Challenges for Developing Countries
The Challenges
Global financial crisis is known to generally hit the developed economies and cause a slowdown in the economy and even negative growth. This is primarily due to the slack demand in the local market and he surrounding markets. For the developing countries the impact of a global financial meltdown is directly related to the importance of exports and the dependence on capital inflow of foreign funds for local industries and to the economy.
The Challenges
For example in the countries of South Asian countries, for example more than 22% of the Gross Domestic Products is formed by exports of goods and services. The percentages of such exports of the GDP is 26% in the Latin America and the Caribbean countries, 35% in sub-Saharan Africa, 40% in central Asia while it is nearly half of the GDP in countries of East Asia (de Paiva…
References
de Paiva Abreu, M., Agarwal, M., Kadochnikov, S., Mikic, M., Whalley, J., & Yongding, Y. The Effect of the World Financial Crisis on Developing Countries: An Initial Assessment. Centre for International Governance Innovation. Retrieved from https://www.cigionline.org/sites/default/files/task_force_1.pdf
Kaeksal, B., & Orhan, M. Market Risk of Developed and Developing Countries During the Global Financial Crisis. SSRN Journal. doi:10.2139/ssrn.2026781
Kaeksal, B., & Orhan, M. Market Risk of Developed and Developing Countries During the Global Financial Crisis. SSRN Journal. doi:10.2139/ssrn.2026781
McCulloch, N., & Sumner, A. (2009). Introduction: The Global Financial Crisis, Developing Countries and Policy Responses. IDS Bulletin, 40(5), 1-13. doi:10.1111/j.1759-5436.2009.00069.x
Globalism Influenced 1997 Asian Financial Crisis, Effects Japan
The Asian financial crisis took place during an era of financial crisis that effected a great part of East Asia. The whole nightmare started in July 1997 and the disaster raised a lot of fears of a universal economic collapse because of financial infection. The tragedy happened in Thailand with the monetary failure of the Thai baht right after the Thai administration was enforced to drift the baht for the reason that the lack of foreign currency in order to support its secure rate of exchange (United Nations). This cut its peg to the U.S. dollar, after thorough efforts to support it in the encounter of a critical financial over-delay that was in part driven by real estate. However, globalism not only influenced the 1997 crisis, but also caused Japan to not only become asymmetrical but also caused financial instability in the…
Works Cited
Asian Financial Crisis. 4 August 2010. http://www.actionforex.com/articles-library/financial-glossary/asian-financial-crisis-20041204325/ . 4 November 2015.
Blustein, Paul. "The Chastening: Inside the Crisis that Rocked the Global Financial System and Humbled the IMF." PublicAffairs, 7 August 2009.
Nanto, Dick K. "THE 1997-98 ASIAN FINANCIAL CRISIS." CRS Report. 7 February 1998. http://fas.org/man/crs/crs-asia2.htm .
Pempel, T. J. The Politics of the Asian Economic Crisis. . Ithaca, NY: Cornell University Press, 2009.
economic and financial crisis (2008-2009), the Federal Reserve took exceptional measures in order to combat the effects of the crisis on the American economy. These measures translated into an expansionary policy that included pumping money in the economy and purchasing assets that were in trouble. Through its expansionary work, the government was able to balance some of the effects of the crisis.
The question that seems to be on everybody's mind (and lips) today is where does it all end? One thing everyone can agree on is that this type of expansionary policy cannot last forever. The United States economy functions as a free market economy where the laws of supply and demand govern the realities of the market. A continuous and permanent intervention of the Federal Reserve is neither possible, nor healthy. What nobody can agree on, however, is when the expansionary approach should stop: now, in the near…
Bibliography
1. Krugman, Paul. The Conscience of a Liberal. The New York Times. November 2013. On the Internet at http://krugman.blogs.nytimes.com/2013/11/25/nowhere-near-the-exit/ . Last retrieved on December 13, 2013
2. Mankiw, Gregory. In Fed Policy, the Exit Music May Be Hard to Hear. The New York Times. November 2013. On the Internet at http://www.nytimes.com/2013/11/24/business/in-fed-policy-the-exit-music-may-be-hard-to-hear.html?_r=0 . Last retrieved on December 13, 2013
3. Spicer, Jonathan, Lange, Jason. Fed officials signal next policy battle: rate guidance. Global Post. On the Internet at http://www.globalpost.com/dispatch/news/thomson-reuters/131121/fed-officials-signal-next-policy-battle-rate-guidance . Last retrieved on December 13, 2013
4. Expansionary Policy. Investopedia. On the Internet at http://www.investopedia.com/terms/e/expansionary_policy.asp . Last retrieved on December 13, 2013
Asian Financial Crisis of 1997
The economies of the so-called "Asian Tigers" were looked at with envy by the rest of the world in the early 1990s. These Southeast Asian countries -- South Korea, Taiwan, Singapore, Hong Kong, Malaysia, and Thailand had shown impressive (in most cases double-digit) growth rates for the preceding decade and more; thus becoming "darlings" of liberal capitalism and globalization in the post-cold war era. Other developing countries were looking to follow their example, and indeed Indonesia and Philippines were straining at the leash to join the "tiger" club. Investors, bankers, and fund managers from all over the world were queuing up to be part of the Asian "economic miracle" -- and perhaps make a quick buck or two in the process. What's more -- the "trickle down effect" was actually pulling the poverty line in the region steadily downwards giving rise to a growing and vibrant…
References
The Asian Financial Crisis: Causes, Contagion and Consequences." (1999). Edited by Pierre-Richard Agenor etal. Global Economic Institutions. Cambridge University Press: UK
Das, Dilip K. (December, 2000). "Asian Crisis: Distilling Critical Lessons." UNCTAD Discussion Papers
Chronology of the Asian Currency Crisis and its Global Contagion" Based on Information from Several News Sources. Retrieved on September 24, 2002 at
Global Economic Crisis
Throughout the history of the U.S. and the world at large, financial crises and the resultant economic recessions have occurred unerringly recurrently. In fact, the phenomenon has become so common that some think of such crises as parts of economic systems of the major world powers. The most recent one is the 2008 financial crisis that brought about the world economic recession. The recession resulted in over 4.1 trillion dollars in losses, increased poverty, unemployment numbers climbing to over 10% in the U.S. and quite higher in major European economies, major banks collapsed and several stock markets crashed. In fact, American investors alone lost over forty percent of their savings value. Housing prices dropped sharply from the high recorded previously in 2006. The 2008 crisis also resulted in decline in manufacturing, reduction of world trade, decrease in consumer spending, and many negative effects. Because of the importance of…
References
Aguiar, M., Hurst, E. & Karabarbounis, L. (2013). Time Use during the Great Recession, American Economic Review, 103, 1664-96.
Aluko SA (2008). The Global Economic Crisis and the Nigeria Financial System: The way forward; A paper delivered at the 14th seminar for Finance Correspondents held at Benue hotel, Markurdi, July 16th.
Arestis, P., Charles, A. & Fontana, G. (2013). Financialization, the Great Recession, and the Stratification of the U.S. Labor Market, Feminist Economics, DOI:10.1080/13545701.2013.795654
Claessens, S. & Kose, M.A. (2013). Financial Crises: Explanations, Types, and Implications. IMF Working Paper
Finance
The Effect of the Eurozone Today on Global Financial Markets
Global markets are so intertwined today that what affects one is definitely going to have an impact on another. Case in point, the recent issues in Greece and other European Union (EU) countries have had a global effect and have wrought havoc on the Eurozone. Because if this global connectedness, large banks and organizations like the International Monetary Fund (IMF) are even more important today than they were in the past.
The EU's finances are powered by the countries that have become member nations, but those finances are guarded by the European Central Bank (ECB) and the IMF. The ECB is the institution that is responsible for the Euro, the currency of the EU, and it is also the organization responsible for negotiations regarding the economic difficulties of EU member nations. Since Greece, Spain, Italy and others have had financial problems, the…
Works Cited
Dam, Kenneth W. "The Subprime Crisis and Financial Regulation: International and Comparative Perspectives*." Chicago Journal of International Law 10.2 (2010): 581-594.
European Central Bank (ECB). "Recently Published." Monthly Bulletin, 2012. Web.
International Monetary Fund (IMF). "About the IMF." International Monetary Fund, 2012. Web.
Halmai, Peter, and Viktoria Vasary. "Real Convergence in the New Member States of the European Union (Shorter and Longer Term Prospects)." The European Journal of Comparative Economics 7.1 (2010): 229-237.
Outline: Should Digital Currency eplace Paper Currency in the United States?1. Introductiona. Hooki. Imagine a world where everyone uses electronics or cards to conduct financial transactions? A world where no one exchanges cash or coins for payment for service but a swipe of a fob or press a button, and currency is transferred.b. Preliminary Thesis statementi. In the United States, replacing paper money with digital currency as legal tender will eliminate the requirement for government insurance on deposits with financial institutions while maintaining the currencys liquidity.ii. Some feel that digital currency increases the danger of cyberattacks and weakens the foundation of financial security; however, an increase in Cybersecurity professionals and user privacy protection guidelines will reduce those concerns.2. Body Paragraphsa. History of currency in the U.S.b. Global Impact of U.S. Currencyc. ArgumentDigital currency should replace paper currency as legal tender Argument#1: Digital Currency risk-free liability of the Fed removes…
ReferencesAdrian, T. & Mancini-Griffoli, T. (2021, June). A new era of digital money. International Monetary Fund. Retrieved from https://www.imf.org/external/pubs/ft/fandd/2021/ 06/online/digital-money-new-era-adrian-mancini-griffoli.htm.Bertaut, C., Beschwitz, B. V. & Curcuru, S. (2021, October 6, 2021). The international role of the U.S. dollar. FEDS Notes. Retrieved from https://www.federalreserve.gov/ econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-20211006.htm.Campbell, C. (2021, August 23). Cash-free society. Time: Innovation, 91-94.FDR takes United States off gold standard, 2021 History. Retrieved from https://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard Ney, J. (2020). The case for the digital dollar: Security at home and abroad. Harvard Kennedy School Review, 20, 74-77.Timberlake, R. H. (2012). From Constitutional to Fiat Money: The U.S. Experience. CATO Journal, 32(2), 349–362.2021 findings from the Diary of Consumer Payment Choice. (2021, June 15). The Federal Reserve. Retrieved from https://www.frbservices.org/news/fed360/issues/061521/cash-2021-findings-diary-consumer-payment-choice .
Global Business
When businesses go international, they have to operate in a more competitive, uncertain, and risky business environment. The forces present in the Global environment bring a number of challenges for the businesses; making it more difficult for them to maintain their market share, enhance profitability, and keep the customers satisfied (Cherunilam, 2007). To compete successfully and ensure a sustainable future in the international markets, business organizations have to analyze these forces carefully and strategize accordingly. Globalization has also impacted the way countries use to recognize themselves as internationally competitive and advanced than other countries (Tellis, Stremersch, & Yin, 2003).
This paper presents a comprehensive discussion on the positive and negative impacts of Globalization and the efforts which nations and business organizations make in order to become internationally competitive and keep up pace with the Globalization. The paper starts with a brief description of different environmental forces that are an integral…
References
Benetton, (2012). The Group. Retrieved on May 3rd, 2012, from
CIA, (2012). Italy: Economy Overview. Retrieved on May 3rd, 2012, from
Cherunilam, F. (2007). International business: text and cases. India: PHI Learning Pvt. Ltd.
Dconti, (2012). Effects of Globalization on Italy. Retrieved on May 3rd, 2012, from
If asset bubbles can be leading indicators of recession, that begs the question what assets are the most important? Several studies have shown that housing prices are critical. They were important in Japan and in 2008 in the United States. Babecky (2012) showed that housing prices consistently predict asset bubbles, minus the occasional false positive. Intuitively this makes sense since any sort of bubble will result in more investment in real estate.
There is a further question that is raised in light of the contagion of the 2008-2009 crisis. Prior to that, as Evanoff (2013) notes, several asset bubbles were effectively contained by monetary policy and did little damage. Most bubbles that cause damage do so in the developing world -- Southeast Asia and Russia in the late 1990s for example -- but in the developed world the damage is usually contained. Frankel and Saravelos (2011) examined the indicators that might…
Works Cited:
Babecky, J., Havranek, T., Mateju, J., Rusnak, M.,Smidkova, K. & Vasicek, B. (2012). Leading indicators of crisis incidence. European Central Bank Working Papers Series No. 1486.
Chinn, M. & Kucko, K. (2010). The predictive power of the yield curve across time. NBER Working Paper, No. 16398.
Evanoff, D., Kaufman, G. & Malliaris, a. (2013). Asset price bubbles: Lessons from the recent financial crisis. World Financial Review. Retrieved May 1, 2013 from http://www.worldfinancialreview.com/?p=2200
Frankel, J., Saravelos, G. (2011). Can leading indicators assess country vulnerability? NBER Working Paper No. 16047.
Financial Analysis of Lehman rother
Lehman rothers
The history has been full of financial collapses and financial scandals and one of the biggest financial collapses that a company has ever seen was that of Lehman brother. The collapse of a firm as huge as Lehman rother and a firm which has such great experience of over a hundred years lead the world into a shock. It created doubts in the minds of people regarding the condition of other financial institutions. The history of Lehman rother is rich which is further discussed.
The history of Lehman rother dates back to 1844, when a boy named Henry who was a 23-year-old son of a cattle merchant who immigrated to the United States from Germany and he settled in Alabama State of the United States where he opened dry goods store. In 1847, when Henry Lehman's elder brother arrived to Alabama, the firm expanded to "H.…
Bibliography
1. Bebchuk, L.A., Cohen, A., & Spamann, H. (2010). The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008. Yale Journal on Regulation,27(2), 257+.
2. Blake, D. (2000). Financial Market Analysis. New York: Wiley. Cetorelli, N., Mandel, B.H., & Mollineaux, L. (2012). The Evolution of Banks and Financial Intermediation: Framing the Analysis. Federal Reserve Bank of New York Economic Policy Review, 1+.
3. Dwyer, G.P., & Tkac, P. (2009). The Financial Crisis of 2008 in Fixed Income Markets.Federal Reserve Bank of Atlanta, Working Paper Series, 2009(20), 1+.
4. Fitzpatrick, T.J., & Thomson, J.B. (2011). How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons from Lehman Brothers. Economic Commentary (Cleveland), (2011-23), 1+.
Global Financing and Exchange ate Mechanisms
oles of International Financial Institutions: IMF, World Bank, and ADB
All international financial institutions have their different goals, objectives, varying expertise, and areas of specialization. This study will focus on the role African Development Bank, World Bank and International Monetary Fund on global finance. The partnerships enhanced are geared towards poverty reduction and economic growth that can be maintained. This is according to the recent announcements made by global financial institutions. The International Monetary Fund mainly focuses on promotion of international financial support and macroeconomic stability together with the growth of the member states.
On the other hand, the World Bank has diverted more attention on assisting member states to see a reduction of poverty levels by emphasizing on the development and social, structural, and institutional dimensions. Evidently, the reform for the financial sector is a key role promoted by international financial institutions. Collaboration will be very…
References
Bakker, A. (2009). International financial institutions. London: Longman
Jeanne, O., Zettelmeyer, J., & International Monetary Fund. (2007). "Original sin," balance sheet crises, and the roles of international lending. Washington, D.C.: International
Monetary Fund.
Olokesusi, F., & National Emergency Management Agency (Nigeria). (2006). The role of international financial institutions in disaster risk management. Ibadan: Nigerian
he only observation that could be made here is that one would expect a larger proportion of the total expenses to be allocated to research and development, given the fact that this is such an important part of Microsoft's activity and essential in order to obtain a competitive advantage on the market.
Asset and Capital Structure
2008
Cash and cash equivalents
$10,339
Accounts receivable
$13,589
Inventories
$985
otal fixed assets
$29,551
he asset structure at Microsoft reflects some of the particularities in the industry, notably the fact that the inventory levels tend to be quite low, as compared to the other assets. his means that the I industry is not one supporting production on stock. At the same time, the value of the total fixed assets is significantly high, which can be partly explained by the size of the company and the investments in land, buildings and equipment.
Part III -- Ratio Analysis
he current ratio in 2008 was 1.45, as compared…
The return on assets at Microsoft was 0.24 in 2008, as compared to 0.22 in 2007. As most of the other profitability and asset management figures, the return on assets also shows a better performance in 2008.
Part IV -- Conclusions and Recommendations
Microsoft's results, both in terms of absolute value from the income and cash flow statements and balance sheet and the ratio analysis, show a solid, extremely competitive company, whose results have improved from 2007 to 2008, despite the global economic crisis. Its capacity to retain low levels of inventory, to gradually increase its efficiency in using assets and to bring new products to the market are some of the positive aspects at Microsoft. As a recommendation, the company could consider allocating a larger proportion of its expenses into research and development.
Despite the positive contributions they generated upon the culture and economy of Singapore, the foreign citizens, mainly Chinese, have also given birth to some less pleasant effects. In terms of education and healthcare, the costs of these types of services increased and in the future could materialize in increased fiscal pressure as a means of covering the expenditures. The housing sector has also been impacted in two manners -- structurally, there has been noticed an increase in facilities used as business 'offices' and secondly, there has been registered an increase in retail prices for the purchase and rental of real estate properties. In terms of language, the 42% immigrants are generally able to become integrated. Crime rates have however increased and nearly one percent of this growth is directly linked to immigration.
eferences:
Abet, C., Localization vs. Globalization, The Architectural eview, Vol. 196, 1994
Brimelow, P., Immigration's Impact on Education and Multiculturalism, 2005,…
References:
Abet, C., Localization vs. Globalization, The Architectural Review, Vol. 196, 1994
Brimelow, P., Immigration's Impact on Education and Multiculturalism, 2005, The Social Contact, Retrieved from http://www.thesocialcontract.com/pdf/fifteen-four/xv-4-269.pdf on May 15, 2009
Ng, Julia, Singapore's Birth Trend Outlook Remains Dismal: Sociologist, February 7, 2007, Channel News Asia, http://www.channelnewsasia.com/stories/singaporelocalnews/view/257208/1/.html last accessed on May 15, 2009
Crime Rates on Rise in Singapore: Minister, Singapore Window, 1999, http://www.singapore-window.org/sw99/90309xin.htm last accessed on May 15, 2009
3.2.3 Portfolio Diversification of Investment in Global Property Markets
ecause the global property markets are affected by globalization and specific country / regional factors, means that the overall amounts of risks will vary, the most notable include: transparency and efficiency. Where, each country / region has different on laws and regulations pertaining to the real estate markets. This means that the risks in a number of different markets will depend upon specific market conditions themselves, reflecting these two factors. To protect themselves against these kinds of risks, many investors will often seek to diversify their portfolio. Diversification is: when you are investing a number of different asset classes in real estate, across a variety of countries / regions. The idea is that if a risk occurs in a specific country or region, the other areas that you are diversified in will protect you against the severity of the declines. For example,…
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Business Risk, 2010, Invest Words. Available from: [29 March 2010].
Dubai Property Companies Called Merger Off, 2009, Property Wire. Available from: [30 March 2010].
Global Refugee Regime eems to Be Veering Away From Traditional Rules
As the threat of war looms large, the situation of those displaced because of violence and fights is becoming the focal point of talks amidst humanitarian groups. Many wrote about the situation in Afghanistan. The last many years have brought about quite a lot of enormous "refugee movements and humanitarian emergencies." More than 50 million people have been displaced by conflicts, war and other disasters and things may get worse.
The many organizations that offer aid to those who are forced to flee from their native lands are trying their level best to reach out and help each one of them. But nations all over seem to be hesitant to take in refugees who do not have any place else to go. What is the solution? How can humanitarian agencies cope with the increasing number of refugees? A book report from…
Sources
Agamben, Giorgio (1995). We refugees.(Section 2: Issuing Identity) Symposium v49, n2 (Summer):114
Appling, Cathy (1995). United Nations Involvement in Haiti from a Humanitarian Perspective. Current World Leaders 38, 4, Aug, 83-98.
Copeland, Emily (1992). Global refugee policy: an agenda for the 1990s. (Conference Reports) International Migration Review v26, n3 (Fall):992
Deng, Francis M. (1995). Dealing with the Displaced: A Challenge to the International Community. Global Governance 1, 1, winter, 45-57.
These funds are now removed from the banking system. Keep in mind that banks use every dollar on deposit to create many more dollars worth of loans, the hit to the banking system and by extension, to the money supply is something approaching 25 to 30 billion dollars. This was a global phenomenon, as the crisis arises interest rates are slashed. So hence, by 2008-2009 the Federal Reserve, Bank of England to many others have pushed interest rates close to zero. He also explains how major players like Mr. Bernake and the Treasury Secretary Henry Paulson affected the crisis and how the steps and how they have left their mark on this financial crisis. He also contends that all crisis have an ebb and flow in their severity and rarely hit once and subside. He vilifies our toxic waste method of having recourse to non-recourse government loans and in…
Aside the attraction of customers, the money invested in marketing have created the desired outcome of a strong and reputable brand. Another pivotal element in the financial strategies has been that of maximizing the efficiency of managing inventories. This was necessary in order to continually strengthen the brand as well as achieve the profitability goals. Alongside with operating principles, supply-chain renovation and inventory management, financial management represents the pillar of the Nike business model (Filbeck, Krueger and Preece, 2007).
7. Discussion
It is extremely difficult to generalize the approaches of multinational organizations to financial management as each individual entity will employ those courses of action which best suit its needs as well as its characteristics. Whilst Ford continued to invest its resources in the manufacturing of large and luxurious vehicles in an attempt to drive the market, McDonald's has recognized the necessity in satisfying customer needs and has as such made…
References:
Adams, B., 2007, McDonald's Strange Menu Around the World, Trifter, http://www.economywatch.com/finance/financial-management.html last accessed on July 13, 2009
Filbeck, G., Krueger, T., Preece, D., 2007, CFO Magazine's "Working Capital Survey": Do Selected Firms Work for Shareholders? Quarterly Journal of Business and Economics, Vol. 46
Nizamuddin, A.M., 2007, Multinational Corporations and Economic Development: The Lessons of Singapore, International Social Science Review, Vol. 82
Schindehutte, M., Morris, M.H., Kocak, A., 2008, Understanding market-Driving Behavior: The Role of Entrepreneurship, Journal of Small Business Management, Vol. 46
The decision of investing or not here then depends on the personal adversity to risk of each individual investor. The general theory states that each investor should construct a diversified portfolio, which adequately balances high risk-high gain shares with medium or even low rates of risk and gains (Hagin, 2004). New Zealand could then be assimilated with a medium risk-medium gain share, and as such would be perceived as a valuable addition to one's portfolio. In this order of ideas then, the recommendation would be that of investing in the country.
eferences:
Amadeo, K., 2009, An Introduction to the Financial Markets, About, http://useconomy.about.com/od/themarkets/a/capital_markets.htm last accessed on December 17, 2009
Hagin, ., 2004, Investment Management: Portfolio Diversification, isk and Timing -- Fact and Fiction, John Wiley and Sons
Healy, J., 2001, New Zealand Capital Markets, Ministry of Economic Development, http://www.med.govt.nz/upload/18163/healy.pdf last accessed on December 17, 2009
Malkin, B., 2009, Financial Crisis: Australia and New Zealand…
References:
Amadeo, K., 2009, An Introduction to the Financial Markets, About, http://useconomy.about.com/od/themarkets/a/capital_markets.htm last accessed on December 17, 2009
Hagin, R., 2004, Investment Management: Portfolio Diversification, Risk and Timing -- Fact and Fiction, John Wiley and Sons
Healy, J., 2001, New Zealand Capital Markets, Ministry of Economic Development, http://www.med.govt.nz/upload/18163/healy.pdf last accessed on December 17, 2009
Malkin, B., 2009, Financial Crisis: Australia and New Zealand Guarantee All Ban Deposits, The telegraph, http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3187662/Financial-crisis-Australia-and-New-Zealand-guarantee-all-bank-deposits.html last accessed on December 17, 2009
Bank of America and Merrill Lynch would have to be separated and Goldman Sachs could no longer be a bank holding company. "Commercial banks would take deposits, manage the nation's payments system, make standard loans and even trade securities for their customers -- just not for themselves. The government, in return, would rescue banks that fail. On the other side of the wall, investment houses would be free to buy and sell securities for their own accounts, borrowing to leverage these trades and thus multiplying the profits, and the risks. Being separated from banks, the investment houses would no longer have access to federally insured deposits to finance this trading. If one failed, the government would supervise an orderly liquidation. None would be too big to fail -- a designation that could arise for a handful of institutions under the administration's proposal" (Uchitelle, "Volcker," 2009).
The Volcker proposal seems sensible,…
Works Cited
Dash, Eric. Post-mortems reveal obvious risk at banks. The New York Times.
November 18, 2009. December 5, 2009.
http://www.nytimes.com/2009/11/19/business/19risk.html
"Geithner criticizes Wall Street pay." Bloomberg News. December 5, 2009.
Euromonitor.com. 17 May 2009 .
Chekalin, Alexander. "Press Service - Speech by First Deputy Minister of the Interior Militia." 8 August 2006. Ministry of the Interior, Russian Federation. 17 May 2009 .
Dzieciolowski, Zygmunt. "Russia's immigration challenge." 15 June 2007. Opendemocracy.net. 17 May 2009 .
Matthews, Owen and Anna Nemtsova. "The Kremlin Vigilantes." 14 February 2009. Newsweek. 17 May 2009 .
Monacelli, R. "Russia: Population, Immigration and the Economy." 19 February 2009. Institute for the Study of Conflict, Ideology, Policy. 17 May 2009 .
Schwirtz, M. "For Russia's Migrants, Economic Despair Douses Flickers of Hope." 9 February 2009. New York Times. 17 May 2009 .
Yasmann, V. "Russia: Immigration Likely to Increase, Mitigating Population Deficit." November 2005. Radio Free Europe Radio Liberty. 16 May 2009 .
Attachment 1
RUSSIAN IMMIGRATION STATS:
Top Stats
All Stats
Just Stats
immigrant population > Immigrants as percentage of state population
8.483
immigrant population > Number of immigrants
12,080,000
immigrant population > Percentage of total number of immigrants in the…
Bibliography
Banjanovic, Adisa. "Russia's new immigration policy will boost the population." 14 June 2007. Euromonitor.com. 17 May 2009 .
Chekalin, Alexander. "Press Service - Speech by First Deputy Minister of the Interior Militia." 8 August 2006. Ministry of the Interior, Russian Federation. 17 May 2009 .
Dzieciolowski, Zygmunt. "Russia's immigration challenge." 15 June 2007. Opendemocracy.net. 17 May 2009 .
Global Warming
Formal Outline
what is climate change and what is it doing?
The reality of global warming: fact vs. fiction and the marginalized greed-based business perspective
The Economics of global warming vs. The moral impact of global warming on all stakeholders including non-human ones.
Climate change, not global warming: the effects are different in different parts of the globe.
The political, social, and financial challenges that global warming creates and how the challenges can be met.
The Economic, Political, and Ethical Effects of Global Warming
Global warming, or climate change, has economic, social, and political consequences. These consequences are experienced by the non-human populations of the planet, too, and perhaps even more so. The Environmental Protection Agency points out that due to climate change and global warming, migratory birds are flying an average of thirty-five miles further north than they did just forty years ago. The recent Hurricane Sandy shows that global warming has led to perceptible…
References
Environmental Protection Agency. "Climate Change." Retrieved online: http://www.epa.gov/climatechange/
Jacoby, Henry. Interview with the Natural Resources Defense Council. Retrieved online: http://www.pbs.org/wgbh/warming/debate/jacoby.html
Kolbert, Elisabeth. Interview with the Natural Resources Defense Council. Retrieved online: http://www.nrdc.org/globalwarming/ikolbert.asp
Maslin, Mark. Global Warming: Causes, Effects, and the Future. MBI, 2007.
Combined with the increasing prevalence of regional trading blocs, higher transportation costs may result in a move towards regional production rather than global. In other respects, however, Lonely Planet's business will remain essentially unchanged over the coming years.
Conclusion
The globalization of international trade has had a profound impact on Lonely Planet's operations. It has allowed the company to use offshore production centers that are capable of serving the global market. The monetary flows even at a relatively simple, one-product firm like LPP illustrate the degree to which economies around the world are intertwined. The company receives monetary inflows from dozens of nations, and disperses monetary flows to dozens more. Including small flows, the operations of Lonely Planet contribute to the economy of nearly every nation on earth.
The recent changes with respect to the global economy will continue to impact operations into the coming years, affecting the firm's ability to outsource…
Works Cited:
Das, Dilip K. (2003). Financial Flows and Global Integration. Centre for the Study of Globalization and Regionalization. Retrieved April 1, 2009 fromhttp://www2.warwick.ac.uk/fac/soc/csgr/research/workingpapers/2004/wp13204.pdf
Steil, Benn. (2007). The end of National Currency. Foreign Affairs. Retrieved April 1, 2009 from http://www.foreignaffairs.com/articles/62614/benn-steil/the-end-of-national-currency
The orld Bank is a likely source of support for such an initiative. Recent research has focused on the promise of rural development through a restructuring of agri-business (Jarosz, 1996) and the results are promising. Rural labor practices are subject to change and some of those changes do not require a global revolution. Instead of waiting for the IMF to collapse or fertilizer companies to go bankrupt, sustainable agricultural development advocates should focus on the community level.
Conclusion
The global food system is unjust by almost every measure. Billions of people are starving to death while another billion are suffering the ill health effects of too much food. Our domestic and international institutions have not only created this reality, but are situated now to support policies that perpetuate this reality. Change will not be easy and transformation will be even harder. Small, locally-led reform can begin in any community that desires…
Works Cited
Holt-Gimenez, Eric. 2008. The World Food Crisis: What's Behind it and What We Can
Do About it. Policy Brief #16. Institute for Food and Development Policy:
Oakland, CA
Jarosz, Lucy. 1996. Working in the Global Food System: A Focus for International
Indeed, risk-seeking is pervasive in the financial industry, as competition compels banks to seek higher returns. Regulation such as capital requirements can help to reduce risk-seeking behavior, although the negative affect such regulations have on value can ultimately encourage at least some degree of risk-seeking. Despite this unintended potential consequence, regulation serves to neuter overly aggressive bankers and reduces risk in the banking system. Reducing the risk in the banking system is congruent with the government's objective of making effective use of taxpayer money.
A fourth consideration is that consumers demand regulation. hile this does not constitute an economic case for regulation, it must be understood that governments are not motivated by purely economic considerations. Consumers want to know that their deposits are safe and that they can access money when needed for homes, vehicles and small businesses. Consumer demand, while irrational, is a key driver in the level of…
Works Cited:
Llewellyn, D. (1999). The economic rationale for financial regulation. Financial Services Authority. Retrieved November 13, 2009.
Hellmann, T., Murdock, K. & Stiglitz, J. (2000). Liberalization, moral hazard in banking, and prudential regulations: Are capital requirements enough? The American Economic Review. Vol. 90, 1, 147-165.
You need a stable foothold and insight into the dynamics of the marketplace from which to be able to peer effectively into the future.... Marketing research can provide real value by helping to provide the radar that will alert the enterprise to perils -- and opportunities -- ahead" (Duboff & Spaeth 2000, pp. 3-13). Proponents of market research maintain that these activities help to ensure that companies remain consumer-orientated. According to Fuglsang and Sundbo (2002), the value of market research can depend on what type of service or product is involved, and what destination country is intended for export purposes. "In practice," they advise, "this means that new products are more successful if they are designed to satisfy a perceived need than if they are designed simply to take advantage of a new technology. The approach taken by many companies with regard to market research is that if sufficient…
References
Dictionary of Business. 1996. Oxford: Oxford University Press.
Brewer, Thomas L. And Alan M. Rugman. 2001. The Oxford Handbook of International Business. New York: Oxford University Press.
Drummond, Lisa B.W. And Mandy Thomas (Eds). Consuming Urban Culture in Contemporary Vietnam. New York: Routledge.
Duboff, Robert and Jim Spaeth. 2000. Market Research Matters: Tools and Techniques for Aligning Your Business. New York: John Wiley & Sons.
There are also some words that are used, which do not translate into English such as privacy. This is because the cultural traditions of Russia do not understand such concepts, which makes translating certain ideas more challenging. (Richmond, 2009, pp. 109 -- 117)
1.3.1: Russian
Russian is a Slavic language that has close ties to all of the different European languages including: English and German. This means that many of the root words are similar to what is used in the common languages spoken throughout the West. However, as far as the alphabet is concerned, the language will utilize what is known as the Cyrillic alphabet. This is different from Western languages, as each of 32 different symbols will represent particular roots of certain words. When reading the language and learning Russian, the basic alphabet will help foreign business executives to navigate their way around. With the alphabet is pronounced the…
Bibliography
Andresen, F. (2007). Walking on Ice. Denver, CO: Outskirts Press.
Ayios, A. (2004). East West Relationships in Russia. Trust and Western Russian Business Relationships. (pp. 156 -- 180). Burlington, VT: Ashgate.
Horton, P. (2006). Religion. Russia and Belarus. (pp. 77 -- 83). Melbourne: Lonely Planet Publications.
Jones, A. (1994). Education and Society in the New Russia. Armonk, NY: ME Sharpe.
In 2000 legislation was presented by Ralph Klein to the legislature, demanding that provinces be permitted to allow private hospitals. That same year, more budget cuts slammed the health systems, when the "Federal udget offers 2 cents for health care for every dollar of tax cuts." (Health Coalition) in 2002 the Romanow Royal Commission on the Future of Health Care in Canada was created to investigate the health-care situation in the nation and to foster (and witness) public discussion on the subject. Their report was presented in Ottawa towards the end of the year, and in 2003 some of its suggestions regarding intelligent use of federal funding were implemented. The commission, in general, supported the continuation of universal care. However, the 2003 "Health Accord" did not include any ruling against the use of federal funding contracted out to for-profit institutions (a situation that some critics claim is part of…
Bibliography
Axworthy, Lloyd & Spiegel, Jerry. "Retaining Canada's health care system as a global public good" Canadian Medical Association Journal, Aug 20,2002; 167 (4), 365-366
Canadian Institute for Health Information. Health Care in Canada.
Canadian Institute for Health Information: Ottawa, 2004.
Choudhry, Sujit. "The Enforcement of the Canada Health Act" McGill Law Journal, vol 41; 462-510
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