The regulation of international financial markets from the 1950s to the 1990s

During the twentieth century the financial sector became possibly the most regulated area of the economy in many advanced and developing countries. The interwar years represented the defining moment for the escalation of governments' intervention, turning the State into the core of financial systems in its capacity of regulator, supervisor or owner. The essays in this collection shed light on different aspects of the experience of financial regulation, ownership and deregulation in Europe and the USA from a secular historical perspective. The volume's chapters explore how the political economy of finance changed in the nineteenth and twentieth centuries and how such changes were related to shifting attitudes towards globalization. They also investigate how regulation responded to governance problems of financial intermediaries and markets, and how different legal frameworks and institutional architectures influenced such response. The collection engages with a set of issues as diverse as they are interrelated across countries and over time: the regulatory attitude of British authorities toward the banking system and the stock exchange market in the nineteenth and twentieth centuries; the comparative evolution of bankruptcy laws and procedures; the link between state, regulation and governance in the evolution of the US and French financial systems; the emergence of banking regulation and supervision by central banks; the regulation and supervision of international financial markets since the 1950s; and the connection between deregulation and banking crises at the end of the past century. Taken as a whole, the chapters offer an intriguing insight into the differing ways western countries approached and responded to the challenges of the international financial system, and the legacy of this on the modern world. In so doing the volume holds up to historical scrutiny the debate as to whether overt state regulation of financial markets always has a negative affect on economic growth, or whether it can be an essential tool for developing nations in their efforts to expand their economies

The politics of immigration control in Russia

Despite a visa-free regime among all CIS countries, Russia has become increasingly restrictive in its policies regulating migrants" access to the labor market. In particular, Russia instituted a quota in 2007 that regulates how many work permits will be issued in each year. This quota has decreased dramatically since its institution and since 2008 has stood well below the actual labor needs of the Russian economy. The quota mechanism has been criticized by numerous experts in Russia for not being in line with labor market need, for being based on political factors more than economic prerequisites, and for having complicated feedback mechanisms between employers and government ministries. According to migration experts in Russia, quotas are "determined through a complicated and multilayered mechanism not backed by any serious methodology" (Ioffe & Zayonchkovskaya, 2010). The goal of this poster presentation is to assess the rationale and methodology for quota formulation set out in government documents. By assessing whether the methodology prescribed by the government is used consistently across regions and identifying potential gaps in the methodology, we can begin to assert whether the criticisms of the quota mechanism have merit and start to identify additional factors that need to be considered

The politics of immigration control in Russia

Despite a visa-free regime among all CIS countries, Russia has become increasingly restrictive in its policies regulating migrants" access to the labor market. In particular, Russia instituted a quota in 2007 that regulates how many work permits will be issued in each year. This quota has decreased dramatically since its institution and since 2008 has stood well below the actual labor needs of the Russian economy. The quota mechanism has been criticized by numerous experts in Russia for not being in line with labor market need, for being based on political factors more than economic prerequisites, and for having complicated feedback mechanisms between employers and government ministries. According to migration experts in Russia, quotas are "determined through a complicated and multilayered mechanism not backed by any serious methodology" (Ioffe & Zayonchkovskaya, 2010). The goal of this poster presentation is to assess the rationale and methodology for quota formulation set out in government documents. By assessing whether the methodology prescribed by the government is used consistently across regions and identifying potential gaps in the methodology, we can begin to assert whether the criticisms of the quota mechanism have merit and start to identify additional factors that need to be considered

Amused, accepted, and used? Attitudes and emotions towards automated vehicles, their relationships, and predictive value for usage intention

Automated vehicles (AVs) have left the laboratories and can be experienced in several projects, e.g. at the premises of a clinic in Germany. With this transition, research on AV attitudes no longer needs to rely on questionnaires with hypothetical scenarios and simulations. Previous research – limited by the unavailability of AVs – has provided ambivalent results regarding age and gender differences in attitudes towards AVs. We present research results about the role of age and gender in connection with attitudes such as acceptance, perceived safety, and trust, as well as intention to use. We additionally demonstrate relationships between those constructs and emotions such as amusement, fear, and surprise. Data were collected from participants (n = 125) after having experienced an AV ride with level 4 automation on two campuses of a clinic in Berlin, Germany. Results reveal strong correlations between all attitudes (0.55 ≤ r ≤ 0.71; p < 0.01) and show acceptance and perceived safety to be solid predictors of intention to use AVs. We also found age to be a significant predictor for usage intention even when other attitudes are considered (β = −0.22; p < 0.01). MANOVA results point to gender differences in all constructs, but with limited confidence (5.40 ≤ F ≤ 18.34; p ≤ 0.02). However, we reject our hypothesis that young men are highly accepting, trusting, and intending to use AVs compared to other combinations of age and gender. We recommend using a mix of attitude, emotion, and behavioural (intention) measures in future research on AVs together with more transparency regarding construct definitions and study materials

Thermal Pions ns Isospin Chemical Potential Effects

The density corrections, in terms of the isospin chemical potential $\mu_I$, to the mass of the pions are investigated in the framework of the SU(2) low energy effective chiral invariant lagrangian. As a function of temperature and $\mu_I =0$, the mass remains quite stable, starting to grow for very high values of $T$, confirming previous results. However, the dependence for a non-vanishing chemical potential turns out to be much more dramatic. In particular, there are interesting corrections to the mass when both effects (temperature and chemical potential) are simultaneously present. At zero temperature the $\pi ^{\pm}$ should condensate when $\mu_{I} = \mp m_{\pi}$. This is not longer valid anymore at finite $T$. The mass of the $\pi_0$ acquires also a non trivial dependence on $\mu_I$ at finite $T$.Comment: 5 pages, 2 figures. To appear in the proceedings of the International High-Energy Physics Conference on Quantum Chromodynamics QCD02, Montpellier, 2-9 July (2002

'Parasitic invasions' or sources of good governance: constraining foreign competition in Hong Kong banking, 1956-81

This paper investigates the operation and impact of the moratorium on new banking licences imposed in Hong Kong in 1965 and the claims that foreign banks destabilised the banking system and drained resources from the colony. First it examines foreign banks' attempts to circumvent the moratorium through claims of special circumstances and buying interests in local banks, and secondly it examines the efforts of incumbents to extend barriers to non-bank financial institutions and to branches of foreign banks. The general conclusions are that while the moratorium was aimed at increasing the stability of the banking system, it had the effect of decreasing the regulatory breadth of the government, and reducing incentives for mergers and acquisitions that might have improved governance

Transport properties of a superconducting single-electron transistor coupled to a nanomechanical oscillator

We investigate a superconducting single-electron transistor capacitively coupled to a nanomechanical oscillator and focus on the double Josephson quasiparticle resonance. The existence of two coherent Cooper pair tunneling events is shown to lead to pronounced backaction effects. Measuring the current and the shot noise provides a direct way of gaining information on the state of the oscillator. In addition to an analytical discussion of the linear-response regime, we discuss and compare results of higher-order approximation schemes and a fully numerical solution. We find that cooling of the mechanical resonator is possible, and that there are driven and bistable oscillator states at low couplings. Finally, we also discuss the frequency dependence of the charge noise and the current noise of the superconducting single electron transistor.Comment: 19 pages, 11 figures, published in PR

Trying to define Free Will : a cognitive and fonctional model proposal

The debate about Free Will has been in the human mind for centuries, but has become even more intense with the recent scientific findings adding new lights on the problem. This interdisciplinary explosion of interest for the topic has brought many insightful knowledge, but also a great deal of epistemological problems. We think that those epistemological problems are deeply related to the very definition of Free Will and how this definition interacts with the interpretations of experimental results. We will thus outline a few of these problems and then propose a definition of Free Will which takes into account those epistemological pitfalls