976 resultados para Central Bank independence
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Panoramic View showing all three campusses.
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Thesis (Ph.D.)--University of Washington, 2016-06
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The reaction of British business to the decolonisation of the Empire has been the focus of much recent research, but few studies have shed light on the continued presence of commercial activities after independence. Barclays Bank DCO in Nigeria began indigenising its staff during decolonisation, but this process was far from complete at independence. African managers at Barclays were supposed to continue British banking traditions, while the post-colonial state hoped to gain more influence on foreign investment through the Nigerianisation of management. By the time the Nigerian civil war effectively ended in 1969 Barclays was only just beginning to come to terms with the ability and ‘character’ of its Nigerian managers, while the Nigerian state was moving towards more radical policies to control foreign business. This article aims to highlight the importance of Africanisation programmes for the structure and control of a major British bank trying to adapt first to the end of Empire and then to the post-colonial world.
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Abstract: Loss of central vision caused by age-related macular degeneration (AMD) is a problem affecting increasingly large numbers of people within the ageing population. AMD is the leading cause of blindness in the developed world, with estimates of over 600,000 people affected in the UK . Central vision loss can be devastating for the sufferer, with vision loss impacting on the ability to carry out daily activities. In particular, inability to read is linked to higher rates of depression in AMD sufferers compared to age-matched controls. Methods to improve reading ability in the presence of central vision loss will help maintain independence and quality of life for those affected. Various attempts to improve reading with central vision loss have been made. Most textual manipulations, including font size, have led to only modest gains in reading speed. Previous experimental work and theoretical arguments on spatial integrative properties of the peripheral retina suggest that ‘visual crowding’ may be a major factor contributing to inefficient reading. Crowding refers to the phenomena in which juxtaposed targets viewed eccentrically may be difficult to identify. Manipulating text spacing of reading material may be a simple method that reduces crowding and benefits reading ability in macular disease patients. In this thesis the effect of textual manipulation on reading speed was investigated, firstly for normally sighted observers using eccentric viewing, and secondly for observers with central vision loss. Test stimuli mimicked normal reading conditions by using whole sentences that required normal saccadic eye movements and observer comprehension. Preliminary measures on normally-sighted observers (n = 2) used forced-choice procedures in conjunction with the method of constant stimuli. Psychometric functions relating the proportion of correct responses to exposure time were determined for text size, font type (Lucida Sans and Times New Roman) and text spacing, with threshold exposure time (75% correct responses) used as a measure of reading performance. The results of these initial measures were used to derive an appropriate search space, in terms of text spacing, for assessing reading performance in AMD patients. The main clinical measures were completed on a group of macular disease sufferers (n=24). Firstly, high and low contrast reading acuity and critical print size were measured using modified MNREAD test charts, and secondly, the effect of word and line spacing was investigated using a new test, designed specifically for this study, called the Equal Readability Passages (ERP) test. The results from normally-sighted observers were in close agreement with those from the group of macular disease sufferers. Results show that: (i) optimum reading performance was achieved when using both double line and double word spacing; (ii) the effect of line spacing was greater than the effect of word spacing (iii) a text size of approximately 0.85o is sufficiently large for reading at 5o eccentricity. In conclusion, the results suggest that crowding is detrimental to reading with peripheral vision, and its effects can be minimized with a modest increase in text spacing.
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Tanulmányunkban azt vizsgáljuk, hogy a jelzálogpiaci válsághoz köthető hírek milyen hatással vannak a Közép-Kelet-Európában aktív nagybankokra. A vizsgálathoz tíz Közép-Kelet-Európában aktív, tőzsdei nagybankot választottunk ki, amelyek közül hat nyugat-európai, míg négy közép-kelet-európai székhelyű bank volt. A tíz pénzintézettel kapcsolatosan 128 hírt gyűjtöttünk össze a 2007. június 1. és 2009. december 31. közötti időszakból. A híreket öt kategóriába csoportosítottuk, és az egyes kategóriáknak a részvényárfolyamokra gyakorolt, rövid távú hatását külön vizsgáltuk. Számításaink alapján a jelzálogpiaci válság során a befektetők pozitívan fogadták az állami feltőkésítéssel kapcsolatos bejelentéseket és a kielégítő védelmet nyújtó, átfogó kormányzati bankmentő csomagokat. A veszteségekkel, a leminősítéssel és az ECB intézkedéseivel kapcsolatos hírek esetén rövid távon nem tudtunk szignifikáns hatást kimutatni. A kutatás során a hírek számosságában igen, de a hírek által kiváltott hatás nagyságrendjében nem észleltünk jelentős különbséget a nyugat-európai és a középkelet- európai bankok között. ______ The research measures the impact of the subprime crisis on the shareholders of the banks being active in Central and Eastern Europe. The analysis focuses on the ten largest banks of the region measured by the asset size. The authors address the question whether the crisis affected more signifi cantly the large banks headquartered in Western Europe or the banks domiciled in Central and Eastern Europe. With the aim of capturing the short-term impact of various news on the shareholders of the banks, the popular event-study methodology with a one-day event window is employed. Within the period of 1 June 2007 and 31 December 2009, altogether 128 news were collected and grouped into fi ve categories (downgrades, loss, capital strengthening, governmental rescue packages, interventions of the ECB). Among others, the authors found empirical evidence that the shareholders appreciated the interventions of the governments: their capital injections resulted in signifi cant positive abnormal returns. Governmental rescue packages also resulted in signifi cant abnormal returns in the share price, however, the sign of the returns was unambiguous. No empirical evidence was found that in the short run the news in connection with loss announcements, downgrades and ECB interventions resulted in signifi cant abnormal returns. We concluded that although Western European banks and banks domiciled in Central and Eastern Europe differed in the number of news announced, the crisis affected the banks in both regions in a similar manner.
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A szerzők tanulmányukban bemutatják a vállalati gyakorlatból ismert vállalati társadalmi felelősségvállalás (CSR) koncepció lehetséges központi banki értelmezését, kitérve a központi bankok gazdasági, jogi, etikai és filantróp (jótékonysági) felelősségére. Megközelítésüket az amerikai (FED), az európai (EKB) és a magyar (MNB) központi bank gyakorlatán keresztül mutatják be. Dolgozatuk alapgondolata, hogy egy valóban felelős intézmény minden rendelkezésére álló eszközzel a társadalmi jólétet segíti elő, ahogy a társadalom tagjai vonatkozásában Adam Smith megfogalmazta bő kétszáz évvel ezelőtt. ____ This paper studies a possible interpretation of Corporate Social Responsibility (CSR) known from business translated to the sphere of central banks, including the central banks’ economic, legal, ethical, and philanthropic (charity) responsibilities. The authors’ approach is presented through practices of the American (FED), the European (ECB), and the Hungarian (MNB) Central Banks. The main idea in this paper is that a responsible organisation uses all means possible to improve social wealth, as stated by Adam Smith in relevance to the members of the society over two hundred years ago.
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The neighboring regions of Xinjiang and Central Asia, linked historically on the famous Silk Road, later developed separately as a result of the incorporation of the former into China and the latter into the Russian Empire and Soviet Union. Thus, interaction between Xinjiang and Central Asia has been constrained by the nature of the Sino-Russian or Sino-Soviet relationship. However, the demise of the Soviet Union--which resulted in the independence of five Central Asian states--and the recent economic reforms in the People's Republic of China suggest dramatic new possibilities for interregional cooperation.^ In this thesis, an historical and comparative approach is employed to study Chinese policies in Xinjiang and Soviet policies in Central Asia, and concludes that despite several decades of separate development, the common ethnic and religious origins of the indigenous peoples and their former ties will facilitate greater interaction between the two regions. ^
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Xinjiang, once described by Owen Lattimore as the "pivot of Asia", has played a strategically important role in China's national defense and security. Historically linked on the famous Silk Road with Central Asia, Xinjiang was crucial to East-West economic and cultural exchanges. During the period of Russian/Soviet expansion into Central Asia and Sino-Soviet rivalry, China's need for Xinjiang's defense and territorial integrity became paramount, and consequently Xinjiang's economy was relegated to the periphery.^ The demise of the Soviet Union--which resulted in the independence of five Central Asian states--and China's reform suggest dramatic new possibilities for Xinjiang's regional development as well as interregional cooperation. As China has begun to shift regional emphasis to the interior, Xinjiang's economic development will be accelerated. With the growth of Sino/Xinjiang-Central Asian relations, Xinjiang's importance will not only be borne out in terms of defense and security, but more significantly in terms of trade and economics. At the century's end and the beginning of the 21st century, Xinjiang will likely move away from the periphery and play an increasingly pivotal role in the economy. ^
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Climate change has been a security issue for mankind since Homo sapiens first emerged on the planet, driving him to find new and better food, water, shelter, and basic resources for survival and the advancement of civilization. Only recently, however, has the rate of climate change coupled with man’s knowledge of his own role in that change accelerated, perhaps profoundly, changing the security paradigm. If we take a ―decades‖ look at the security issue, we see competition for natural resources giving way to Cold War ideological containment and deterrence, itself giving way to non-state terrorism and extremism. While we continue to defend against these threats, we are faced with even greater security challenges that inextricably tie economic, food and human security together and where the flash points may not provide clearly discernable causes, as they will be intrinsically tied to climate change. Several scientific reports have revealed that the modest development gains that can be realized by some regions could be reversed by climate change. This means that climate change is not just a long-term environmental threat as was widely believed, but an economic and developmental disaster that is unfolding. As such, addressing climate change has become central to the development and poverty reduction by the World Bank and other financial institutions. In Latin America, poorer countries and communities, such as those found in Central America, will suffer the hardest because of weaker resilience and greater reliance on climatesensitive sectors such as agriculture. The US should attempt to deliver capability to assist these states to deal with the effects of climate change.
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Deep-water coral ecosystems are hot spots of biodiversity and provide habitats and refuges for several deep-sea species. However, their role in shaping the biodiversity of the surrounding open slopes is still poorly known. We investigated how meiofaunal biodiversity varies with and is related to the occurrence of deep-water living scleractinian corals and coral rubble in two deep-sea areas (the Rockall Bank, northeastern Atlantic) and the Santa Maria di Leuca (central Mediterranean). In both areas, replicated sampling on alive and dead coral areas and from the adjacent slope sediments without corals (at the same and increasing depths) allowed us to demonstrate that sediments surrounding the living corals and coral rubble were characterised by higher meiofaunal biodiversity (as number of higher taxa, and nematode species richness) than the slope sediments. Despite the soft sediments surrounding the living coral having a higher nutritional value than those not associated with corals, with the opposite seen for coral rubble, the presence of both alive and dead corals had a significant effect on nematode assemblages. Our data suggest that, due particularly to the effects on habitat heterogeneity/complexity, both living coral and coral rubble promoted higher biodiversity levels than in surrounding slope sediments. We conclude that the protection of deep-water corals can be crucial to preserve the biodiversity of surrounding open slopes, and that the protection of dead corals, a so-far almost neglected habitat in terms of biological conservation, can further contribute to the maintenance of a high deep-sea biodiversity along continental margins.