A Case Study about Margin Requirements for Non-Centrally-Cleared Derivatives
Executive Summary: This consultative document presents the initial policy proposals emerging from the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) joint Working Group on Margining Requirements (WGMR). These proposals would establish minimum standards for margin requirements for non-centrallycleared derivatives.1 These proposals were developed in consultation with, and with the ctive participation of, the Committee on Payment and Settlement Systems (CPSS) and the Committee on the Global Financial System (CGFS).
Background: The economic and financial crisis that began in 2007 demonstrated significant weaknesses in the resiliency of banks and other market participants to financial and economic shocks. In the context of over-the-counter (OTC) derivatives in particular, the recent financial crisis demonstrated that further transparency and regulation of OTC derivatives and participants in the OTC derivatives markets was necessary to limit excessive and opaque risk-taking through OTC derivatives and to reduce the systemic risk posed by OTC derivatives transactions, markets, and practices. Keep reading…
A Case Study about Increasing Transparency for Fiscal Policy
Abstract: Growing international pressure to curb greenhouse gas (GHG) emissions has focused attention on existing policies that may, either by design or by effect, subsidize fossil fuel production and consumption. This paper reviews existing studies of fossil fuel subsidies within the United States, as well as assessments of the potential impact of subsidy reform on GHG emissions. Evaluating the differences across the studies, it highlights the most important disparities in subsidy deﬁnition and valuation in order to clarify the conclusions that can be drawn from this body of work. We then present some of the tools used to provide transparency in environmental regulation. We conclude that many of these approaches can be used to improve the transparency of ﬁscal policy, with important beneﬁts within the context of climate change and beyond.
Direct and Indirect Transfers: The narrowest deﬁnitions of subsidy are limited to transfers targeted to the energy sector directly, either through agency outlays or through tax relief. Most analysts have used a somewhat broader deﬁnition expanding both the type of policies evaluated and the stated target of the interventions. For example, policies that shift private ﬁnancial and/or market risks onto the government or general public, such as subsidized lending, loan guarantees, and indemniﬁcation programs, would all be included despite the lack of direct monetary transfers in a particular year. Programs that are not directly targeted, but are of substantial beneﬁt, to the energy sector are also included but only on a prorated basis. Read more in Increasing Transparency
Abstract: In organizations with emphasis on transparency, flexibility, informal talks and open door policies, subordinate-superior relationships and communication patterns are a significant deviation from the norm. This study analyzes transcripts of 23 pieces of interviews for identification of Upward Influence (UI) strategies in a multi-national FMCG company, with aforementioned cultural traits. Extensively discussed strategies like, imitation, reason and logic, and upward appeal, were identified through conversation analysis. Two new strategies, emerged in the course of the analysis, viz. reasoned aggression and nonchalance. The study describes the choice and use of UI strategies in this particular organization. It proceeds to discuss the need for improved understanding of UI strategies in isolation and combination, and in relation to culture, team affiliations, and interpersonal relationships.
Introduction: Influence is an attempt made by an agent (individual) to sway the target to a mode/manner of thinking that is in sync with the intentions of the agent. It has been described as “getting one’s way” (Kipnis, Schmidt and Wilkinson, 1980). Influence is of two types – downward and upward. The superior’s attempt to affect the subordinate is referred to as downward influence; when there is a reversal of the process it is known as upward influence. The focus of this paper is study of upward influence (UI) strategies in a multi-national FMCG organization, through an analysis of talk patterns. Deluga and Perry (1991) describe UI as an attempt made by the subordinate to secure a desired response from the superior. It is an intentional and strategic choice made by the individual and is directed at someone higher in the organisation, who is more powerful (Waldron, 1999). Keep reading…
The Case Study about the Constituency Development Fund in Kenya
Over the last ten years the Kenyan Government has intensified the use of decentralized programs in its strategy to tackle poverty and reverse regional disparities. A prime example of this policy is the Constituency Development Fund (CDF) launched in 2003. The CDF allocates resources to all of the 210 constituencies, taking into account constituency poverty levels. The CDF is designed to consider local needs and preferences, by stipulating that the MP of each constituency should decide along with members of the local community how to use the funds to tackle poverty.
In practice however, there have been concerns that the participation of residents in the decision making has been limited, and that the role of MPs as legislators, implementors and auditors of the fund reduces incentives for transparency and good management of the fund. Keep reading…
Case Studies about Rights-based Approaches to Gender and Diversity
Introduction: This report presents the findings of the second phase of the GAD Network project on gender and diversity. The first phase explored conceptual approaches to gender and diversity that underpin debates around diversity within the UK context and examined how diversity is being taken up in a range of international development organisations in response to these debates. The phase one report found that discourse around the term ‘diversity’ reflects primarily an organisational development and management approach emanating from human resources departments and driven by the UK political and legislative context.
Rights-based approaches: Rights-based approaches are closely related to international human rights standards and consist of activities on three core principles: accountability and transparency, equality and non-discrimination, participation and empowerment. Some organisations see rights-based approaches as a set of values that guide development practice, while others consider that rights create entitlements for rightsholders but duties for states and a range of other duty bearers. These organisations therefore focus on the actions of governments that violate or fail to support the realisation of rights and which contravene obligations that governments have signed up to. keep reading…
A Study about Self-Explanation to Self-Justification
The ancestry of contemporary self-representational writing may be traced back to religious sources that underwent a secularisation process beginning in the seventeenth and eighteenth century exemplified by Rousseau’s posthumously published Confessions.By projecting intimate events onto the public sphere, Rousseau testified to a need to unveil the intimate truths of the self through writing – a need that has endured up to the present time.
In contemporary industrialized societies, the desire for transparency permeates political and social discourse as part of a vast ideological formation, so that the public and the private sphere seem to meld and merge, to the dismay of many. Keep reading…
A Case Study about Infrastructure Planning and Delivery
Introduction: Modern, efficient infrastructure underpins the economic health of all nations, supporting the economy, improving productivity, and providing access to opportunities to build stronger communities. As economies grow and populations expand, so too does the scale of demand on the infrastructure that supports daily life. Improving infrastructure networks can be a hugely expensive task. New railways, roads, desalination plants, power stations and broadband connections can cost hundreds of millions, and often, billions of dollars. At the same time, their impact is equally huge: transforming neighborhoods and cities; underpinning water security; and powering our homes, factories and offices.
Getting the delivery of such infrastructure right is therefore an issue of real importance. Cost overruns can run into hundreds of millions of dollars; a poorly specified project can fail to meet the objectives set out for the investment. As a result,
improving infrastructure delivery is now a key priority for governments and government agencies across Australia. Whilst there have been many highly successful deliveries of infrastructure in Australia’s recent history, there are still lessons to be learned. With stakeholders demanding greater transparency and placing additional scrutiny on infrastructure decisions, Governments are rightly very keen to ensure that investment outcomes do not fall short of expectations. Keep reading…
A Study report on Information Exchange in Facilitating Collusion- Insights
Abstract: There is increasing recognition by the Competition Commission that cartel members may engage in practices such as information exchange that facilitate collusion by reducing strategic uncertainty of rivals’ behaviour without constituting explicit agreements. If firms are uncertain about their competitor’s prices, tacit collusion is harder to maintain as price undercutting is harder to detect. The key concern with information exchange therefore is that it increases transparency, allowing for better monitoring and more effective punishment of deviating members of a cartel. This paper draws on key international and South African cases that deal with information exchange to gain insights on conditions under which such exchanges could lead to anticompetitive outcomes.
Introduction: Suppressing competition by engaging in collusion or concerted practices even in very highly concentrated industries often requires ‘something more’ than mere parallelism in behaviour to ensure that consensus is reached and that this consensus is adhered to. It is generally understood that for collusion between competitors to be sustainable, the following three elements should hold- the ability to reach agreement, the ability to monitor adherence to the agreement and the ability punish deviation from the agreement.Information exchange could facilitate collusion by enabling these three elements. It could arguably allow for agreement between competitors to be reached if the information discloses market strategies or works as a recommendation of a particular future market conduct. Keep reading on Facilitating Collusion
Europe is expected to become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion. These are crucial priorities of the Lisbon Strategy (Renewed Lisbon Strategy: Implementing the Renewed Lisbon Strategy for Growth and Jobs, 2007). According to the EU public sector development initiatives in the period 2008-2009, European Council (European Council, March 2005; MTM Program, 2007) reiterated that simplifying EU legislation and improving the efficiency and transparency of public administrations will significantly strengthen economic competitiveness through encouraging business confidence and improving standards of public service. The challenges of new, knowledge-based public sectors in Europe are forcing developed countries to seek and expand comparative advantages mainly through the intellectual capital of the management of public service institutions so as to be able to continuously incorporate strategic change management issues. Read More….
Case Study about Factors Influencing the Adoption of E-government Services
Abstract: E-government initiatives are in their infancy in many developing countries. The success of these initiatives is dependent on government support as well as citizens’ adoption of e-government services. This research identified the attitudes and perceptions of the citizens of Kuwait, a developing country, towards the adoption of e-government services. Based on previous research exploring the determinants of the adoption of e-government services using an amended version of the UTAUT model, the study reported here investigates the factors that influence the take-up of such services.
Introduction: E-government has been defined as “the application of information and communications technology (ICT) to transform the efficiency, effectiveness, transparency and accountability of informational and transactional exchanges within government, between governments and government agencies at federal, municipal and locallevels, citizens and businesses; and to empower citizens through access and use of information”. The success of such initiatives is dependent not only government support, but also on citizens’ willingness to accept and adopt those e-government services. Government decision makers, therefore, need an understanding of the factors that would encourage use of electronic rather than more traditional service delivery methods.