The Governance of the Black Holes of the World Economy: Shadow Banking and Offshore Finance

This paper focuses on regulatory challenges posed by the two interconnected structures of the global financial system – the economy of tax havens (or offshore financial centres), and the shadow banking system. The financial crisis of 2007-09 has revealed that tax havens structures and shadow banking entities play a central role in the practise of financial institutions reliant on financial innovation. Thriving on complexity, opaque networks and driven by arbitrage, the two phenomena pose tremendous challenges to national and international regulators aiming to restore the financial cycle in the recessionary environment. In this paper, we analyse "the state of play" and the current plans for the governance of tax havens, offshore finance and the shadow banking industry. We find that although offshore financial centres and shadow banking are outside the scope of academic economics, they have attracted a lot of attention on the part of financial researchers and regulators. Along with other macro-prudential and system risk concerns, the regulation, or governance of these "black holes" of the global economy is increasingly assuming a central place on the agenda of financial regulators. In what follows, we explore the reasons behind this development

Despite short-term volatility, dollar's value stable for nearly a decade

Dollar, American

Study of mineral production with reference to the Rosemont Copper Project

abstract: Regional benefits of the Rosemont Project are discussed in greater detail in the Economic Impacts Report prepared by the Seidman Institute of the Arizona State University that is part of this document. It covers Pima and Santa Cruz Counties; the major benefits accruing to Pima County.Special report (Arizona Department of Mines and Mineral Resources) ; no. 24Includes bibliographical references (p. 36-37).Includes: An Assessment of the Economic Impacts of the Rosemont Copper Project, prepared by the L. William Seidman Research Institute, W.P. Carey School of Business, Arizona State University (p. 38-63)

Self-Employment as a Contributor to Job Growth and as an Alternative Work Arrangement

CRS_September_2004_Self_Employment_as_a_Contributor_to_Job_Growth.pdf: 560 downloads, before Oct. 1, 2020

Financial Legislation: The Promise and Record of the Financial Modernization Act of 1999

On November 12, 1999, President Clinton signed the most significant piece of financial services regulation to be enacted since the Great Depression, at least up to that time. When the Financial Service Modernization Act of 1999, better known as the Gramm-Leach-Bliley Act (GLBA), was signed, the financial services industry faced strong pressures for deregulation of the rigid structure imposed during the Great Depression. During the 2007-08 financial crises and ensuing debate regarding financial services regulation, the GLBA became a target as members of the financial sector, academia and government considered possible triggers that may have precipitated the crisis.Glass-Steagall Act, Dodd-Frank Act, financial regulation, financial crisis.

Geographical aspects of Industrial Parks

Thesis (M.A.)--Boston UniversityOne of the most specialized methods of land use known to modern industry are Industrial Parks. In the strict sense of the term they are "tracts of land which are subdivided and developed according to a comprehensive plan for the use of a community of industries, with streets, rail lead tracks, and utilities installed before sites are sold to prospective occupants." Such Parks may vary in their size, the use to which they are put and the facilities offered. They are all, however, developed according to a plan. The first Parks were built in this country prior to the 20th century, but until 1945 only 33 Parks had been established. These were in the larger cities where labor could reach the factories by the use of public transportation or by walking. Since the end of World War II, over 125 Parks have been built and most of these have been located in the suburbs or on the fringe areas of the cities. The Parks can be an asset to the community in which they are located, whether it be a small town or a large city. Their economic influence can be of major proportion as they provide tax revenue, industrial payrolls, and job opportunities. An industry locating in a Park benefits it many ways. It is assured of pleasant surroundings and compatible neighbors as standards of selection by the owners or managers of a Park are normally high. Modern one-story buildings offered by Industrial Parks make possible the use of horizontal line production and allow the use of modern warehousing methods, thus saving time and money. In general, only two types of activity are common to Industrial Parks. There are light manufacturing and distribution. Other activities, such as research laboratories sales offices, office buildings, and retail sales outlets may be found in some of the Parks. The criteria for a successful Park is its strategic location in regard to labor, transportation and market. The Parks are located on or near major highways and almost all have rail facilities. Those lacking rail facilities are generally small sized Parks. The average size of Industrial Parks has been decreasing for the past few years, and today the average is about 440 acres with the median being 140 acres. The decrease is due in part to rising land and development costs, and to the increase in the number of Parks developed by communities. The number of Parks between 50 and 100 acres is increasing While the number of Parks over 1,000 acres is decreasing. This trend is prominent now in the New England area. Some Industrial Parks in the United States are called Garden-Type Industrial Developments. These differ from ordinary Industrial Parks in land to building ratio only. Garden-Type Parks have less than 1/2 the land built upon, while ordinary Parks build on on up to 2/3 of the land. The New England Industrial Center, in Needham, Massachusetts, is an example of a Garden-type development and is used as a case study in this paper. The New England Industrial Center is a privately developed Park. It was chosen as a case study because of the diversified character of its occupants and because it is the most completely developed Park in Greater Boston. Although it is not large by national standards, this Park offers many of the facilities common to well-developed larger Parks. It was developed in a suburb of Boston according to a plan and had all utilities in before sites were sold. The Park is located on Route 128, a major highway that runs Boston from the North to South Shore, just south of Route 9 and the Massachusetts Turnpike, the two major east-west highways. It is served by two railroads using the same set of track. The first occupant, a warehouse, moved in in 1953 and now the Park which covers 140 acres is about 90% occupied. This Park has proven a success to both the industries located in it and to the comnunity in which it located. Its suburban location leaves little to be desired. These suburban locations have become increasingly popular due both to the rising cost and to the growing scarcity of undeveloped land in the intown areas of cities. This trend will continue because of the greater abundance of peripheral land. Such a peripheral area grows in ever expanding concentric rings with highways leading to it from the central city. Industrial Parks should ideally be spread throughout this area and not concentrated along one of the highways leading from the Central City. Such overconcentration must be prevented by careful planning for the fUture. If not, the same situation of overcrowding and inefficient transportation that is now occurring in older intown industrial areas will repeat itself. Industrial Parks are not isolated entities unto themselves but an integral part of the regional fabric into which they are woven. The successful location of Industrial Parks depends upon a keen awareness of regional trends in commercial and industrial development, in shifting transportation patterns, in the character of existing, industrial real estate, and in changing land values. Careful study of the geographical aspects of Industrial Park location can contribute significantly to the vigor and stability to this newest trend in the American economy

Defining Improvement Areas & Reducing the Waste - With Lean production philosophy & tools

FTRTIL is rapidly expanding on the Indian market after initiatives by the Indian government to increase the number of rolling trains. FTRTIL is today experiencing a greater demand for their products. Meanwhile are they also planning to expand their product range with new introductions. After trying to respond to the prevailing market demand for the E70 brake panel without any success made FTRTIL realize that there are some serious efficiency problems within their production system Research questions: Where are the bottlenecks and largest gaps between the current situation and a future state where improvements can be implemented to meet the customer demand? How can these bottlenecks/gaps be eliminated or reduced? How should improvements proposals be implemented? Deliverables: The project contains a full view and analyses of the current state map followed by a future state map with recommendations on improvement areas. Proposals were implemented during the project’s work which has formed a new work pattern at FTRTIL. Methodology: The thesis was conducted as an explanatory case study with qualitative data gathered through observations, interviews and archival data. The need of a holistic approach made Lean production theories appropriate to use as a frame of reference. The theory was both selected during the literature review as well as it evolved during the empirical study. FTRTL’s “current state” were visualized and described out of a value stream map (VSM). The VSM later worked as a foundation when analysing FTRTIL’s production system against the frame of reference in order to identify the improvement areas. Proposals on how the wastes could be eliminated / reduced were then developed into practical solutions. The last part of the thesis was then conducted as an action research where the author participated in the implementation process together with the employees. Delimitations: The Master’s Thesis is limited to the door-to-door processes, mainly focused on the value stream between the warehouse and the shipping. The analyses are primarily focused on the processes involving material handling & supply, assembling and testing. Conclusions: The largest gap according to a Lean flow, when comparing the current state with a possible future state were identified to be the batch assembly policies together with the material supply. The key focus has thereby been to move from batch production to single piece flow together with an efficient material supply. FTRTIL can today benefit from an increased productivity by 50%. With the remaining changes and further studies it is not impossible for FTRTIL to improve the productivity even more and reach the objective of 20 panels a month and be able to fully satisfy the market demand. With these large steps in increased productivity there is no doubt about the effectiveness in practising Lean. Lean production can really make a difference and take companies to new heights

Golf courses in Omaha: A recreational geography and land use study

The study inspected the provision of golf courses in Omaha along with surrounding patterns of land use development adjacent to each of the courses. National Recreation and Parks Association (NRPA) provided guidelines to assess the provision of golf to the city, which determined that Omaha was extensively overserved and overdeveloped. The NRPA does not indicate course type to assess the quantity of courses to adequately serve a community and therefore it was proposed that perhaps Omaha has not been overbuilt in the provison of golf to the community. It was also proposed that the golf course does not stand alone in urban space, but more appropriately has been infused as part of a total environment. It was concluded, that by golf course typology, Omaha has not been extensively overserved in the development of golfing recreation to the city. More importantly, certain course types provided to the community a sense of place, as well as contributing to the development of the city. The private regulation courses (eighteen holes), acting as a centrifugal force to the development of Omaha, promoted and guided the growth of the city to the north and the west. To a slightly lesser degree, the public regulation (18-hole) courses provided the same service in contributing to the morphogenesis of the city. The shorter courses of nine-hole length neatly infilled within the city. They not only enhanced the area by the provison of open space, but also quite often they were connected with other forms of outdoor recreation to serve the surrounding residential neighborhoods. Some of the pitch and putt course types were found to be extremely short in length, very compact in there design, and therefore detrimental to the safety of players. Among future considerations, it was suggested that these courses be converted to a different course type of the Cayman version to better provide for the safety of the community