1,145 research outputs found
The role of market discipline in handling problem banks
This paper considers the conditions that are necessary for market discipline to complement prompt corrective action (PCA) by the authorities in handling problem banks. We initially consider precisely what market discipline means in this context, who exercises it and the preconditions that are necessary for it to operate effectively. We explore the incentives that are necessary for PCA and market discipline to reinforce rather than cancel each other and in particular consider the limits to market discipline in this context from corporate governance and from difficulties in valuation. While our analysis is primarily aimed at advanced countries, we also examine problems in emerging markets and how deposit insurance arrangements might conflict with the aims of both PCA and market discipline.market discipline; banks; prompt corrective action
The role of market discipline in handling problem banks
This paper considers the conditions that are necessary for market discipline to complement prompt corrective action (PCA) by the authorities in handling problem banks. We initially consider precisely what market discipline means in this context, who exercises it and the preconditions that are necessary for it to operate effectively. We explore the incentives that are necessary for PCA and market discipline to reinforce rather than cancel each other and in particular consider the limits to market discipline in this context from corporate governance and from difficulties in valuation. While our analysis is primarily aimed at advanced countries, we also examine problems in emerging markets and how deposit insurance arrangements might conflict with the aims of both PCA and market discipline.market discipline, banks, prompt corrective action
Introduction
On October 24, 2003, SUERF celebrated its 40th anniversary in the Galerie Dorée of the Banque de France with an especially high level and rich seminar. The memorable occasion was further elevated by Jean Claude Trichet giving the tenth SUERF Annual Lecture in his last public speech as Governor of the Banque de France, prior to taking over as President of the European Central Bank. This study brings together in slightly edited form the four papers presented at the seminar and the Annual Lecture.
Sulphydryl-dependent reactions of D-penicillamine: Pharmacokinetics and effects on monocyte function in rheumatoid arthritis.
SIGLEAvailable from British Library Document Supply Centre- DSC:D66283/86 / BLDSC - British Library Document Supply CentreGBUnited Kingdo
The Involvement of the Farm Animal Veterinarian in Animal Welfare
The following is excerpted from a paper presented by Mr. Llewellyn, BSc MRCVS at the British Veterinary Association Annual Congress, September 9-14, 1979, Aberdeen, Scotland
The Involvement of the Farm Animal Veterinarian in Animal Welfare
The farm animal practitioner has always played a dual role. The primary role is humanitarian, concerned with the well-being of the livestock, and the secondary role relates to the economics of the enterprise
Review of Through a Glass Darkly: Suffering, the Sacred, and the Sublime in Literature and Theory
Review of: Holly Faith Nelson, Lynn R. Szabo, and Jens Zimmermann, eds., Through a Glass Darkly: Suffering, the Sacred, and the Sublime in Literature and Theory (Waterloo, ON, 2010), xxviii + 450 pages. Paperback: 85.00; ISBN: 978155458184
Productivity Growth of East Asia Economies' Manufacturing: A Decomposition Analysis
Applying a stochastic production frontier to sector-level data within manufacturing, this paper examines total factor productivity (TFP) growth for eight East Asian economies during 1963-1998, using both single country and cross-country regression. The analysis focuses on the trend of technological progress (TP) and technical efficiency change (TEC), and the role of productivity change in economic growth. The empirical results reveal that although input factor accumulation is still the main source for East Asian economies® growth, TFP growth is accounting for an increasing and important proportion of output growth, among which the improved TEC plays a crucial role in productivity growth.total factor productivity, technical efficiency change, technological progress, stochastic production frontier, East Asian economy
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