218,981 research outputs found

    Deregulation of business

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    The political economy of financial repression in transition economies

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    Financial systems in developing countries tend to be"restricted"or"repressed"through burdensome reserve requirements, interest-rate ceilings, foreign-exchange regulations, rules about the composition of bank balance sheets, or heavy taxation of the financial sector. Why are governments drawn to regulate financial markets to the point of financial repression? To address this question, the authors explore preliminary evidence from the post-Communist economies of Eastern Europe and the former Soviet Union, where financial regulations have rarely been examined systematically. They find that public-finance framework has limited ability to explain financial repression in the transition economies, given the peculiar financial lineage of the socialist state. The weak distinction between"public"and"private"spheres of finance in transition economies means that the deficit often conveys little information about the governments'real fiscal activities. It is more fruitful to examine how political institutions, by shaping the incentives politicians face, affect financial policy. Their findings suggest that post-Communist governments may adopt repressive financial controls - not to finance deficits more cheaply than would be the caseunder financial liberalization, but to maintain the authority and ensure the survival of those in power. In countries where pre-reform elites are plentiful in legislative bodies, where interparty competition is low, and where government parties are well-represented in parliaments, elites have been able to perpetuate a system of implicit subsidies by"softening up"the financial sector - especially commercial banks - to ensure the continued flow of cheap credit to specific borrowers. The main beneficiaries of these policies - large formerly state-owned industries with tight financial links to the largest commercial banks - are thus able to convert their well-established claims on public resources into preferential access to credit lines. In other words, financial repression in transition economies may simply serve to solidify main-bank, main-firm relations. These results would lend support to the claim of smaller, cash-starved Eastern European entrepreneurs that the commercial banks have"taken over the role of the old planning ministries."Banks&Banking Reform,Financial Intermediation,Payment Systems&Infrastructure,Environmental Economics&Policies,Economic Theory&Research,Environmental Economics&Policies,National Governance,Financial Intermediation,Banks&Banking Reform,Economic Theory&Research

    Massive Subsidies and Academic Freedom

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    The Public Interest in Labor Dispute Settlement

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    Convergence and Diversity in International and Comparative Industrial Relations

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    [Excerpt] In this essay, we reexamine a critical paradox in international and comparative industrial relations, a paradox that already decades ago demonstrated its ability to intrigue scholarly curiosity (Galenson, 1952,1963; Kerr et al, 1960). As we see it, convergence along a number of important dimensions, such as labor law and organizational and bargaining structure, is occurring simultaneously with widespread cross-national and local divergence, or diversity, in industrial relations practices and outcomes. Along with economic and political interdependence and with intensifications of market competition, convergence and diversity both appear to be product of an increasing spread of markets and ideas sometimes referred to as globalization. In employing this term, we intend to make the point that the conduct of global business is no longer confined to the sort of international trading and related activities that have been carried on for centuries already. In the modern era, the production and exchange of both goods and services occur increasingly on a global scale (Reich, 1991). At this level, as capital mobility expands and trade agreements proliferate (NAFTA, CATT, the single European market), national governments find it increasingly difficult to regulate markets. This globalization of markets, we suggest, is the dominant force driving change (whether toward convergence or diversity) in the contemporary period. Our observations are especially applicable to the advanced industrial countries of the Organization for Economic Cooperation and Development (OECD), the primary focus of this paper, although the trends identified here probably also hold to some extent for newly industrialized countries and less developed societies as well

    Unfair Advantage: Workers’ Freedom of Association in the United States Under International Human Rights Standards

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    This book exposes the violations of human rights witnessed daily in workplaces across the United States. Based on detailed case studies in a variety of sectors, it reveals an “unfair advantage” in U.S. law and practice that allows employers to fire or otherwise punish thousands of workers as they seek to exercise their rights of association and to exclude millions more from laws that protect their rights to bargain and to organize. Unfair Advantage approaches workers’ use of organizing, collective bargaining, and strikes as an exercise of basic rights where workers are autonomous actors, not objects of unions’ or employers’ institutional interests. Both historical experience and a review of current conditions around the world indicate that strong, independent, democratic trade unions are vital for societies where human rights are respected

    Behavioral Psychology

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    Excerpt: Behavioral psychology is concerned with the conditions involved in development, maintenance, and control of the behavior of individuals and other organisms. Behavioral approaches have been developed in many areas of applied psychology. These raise a number of issues important from a Christian perspective
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