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Journal articles on the topic 'Central Bank of Liberia'

Author: Grafiati

Published: 4 June 2021

Last updated: 1 February 2022

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1

Kesselly, Jerome M. "The Impact of Central Bank of Liberia Guidelines on Inbound Money Transfers in Liberia (the Liberian Bank for Development & Investment 2016-2018)." TEXILA INTERNATIONAL JOURNAL OF MANAGEMENT 7, no. 2 (August 30, 2021): 33–37. http://dx.doi.org/10.21522/tijmg.2015.07.02.art004.

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The Central Bank of Liberia (CBL), according to its mandate under the Act of 1999 and its authority, in line with Section 55 and 39, on November 15, 2016, issue a regulation (No. CBL/RSD/004/2016) on payment of Inbound money transfers, which was ordered by former President of the Republic of Liberia, Madam Ellen Johnson Sirleaf, and the Minister of Foreign Affairs. The objective of this regulation was to support the effective management of the foreign exchange market. The regulation applies to all licensed financial institutions involved in money transfer services, such as Western Union and MoneyGram. The regulation did not apply to inbound money transfers that are made using recipient accounts at commercial banks. Conclusion: The theoretical framework presented in this research suggests that commercial banks, be precise, the Liberia Bank for Development and Investment (LBDI), are more likely to suffer a decrease in commission on inbound money transfers throughout the three years (3) of restrictions.

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2

Fofana, Ibrahim. "PROSPECTS FOR ISLAMIC MICROFINANCE UNDER THE EXISTING LEGAL AND REGULATORY FRAMEWORK IN LIBERIA." IIUM Law Journal 28, no. 2 (January 22, 2021): 597–620. http://dx.doi.org/10.31436/iiumlj.v28i2.448.

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There is no specific regulation or legislative framework for Islamic microfinance operations in Liberia. This is largely due to the non-application of Islamic laws in the country, despite the increasing economic strength of Muslims in the country. This article aims to examine whether the existing laws in Liberia permit the establishment and operation of Islamic microfinance. The research employed a qualitative analytical approach, which examines legal and regulatory framework for the microfinance sector in Liberia. The materials and data which include related laws were collected, and analysed inductively to suit the needs of the research. This article argues that, the existing laws including the Liberian constitution and other relevant financial regulations such as, the Central Bank of Liberia Act of 1999, the New Financial Institutions Act of 1999 and the Microfinance Policy and Regulatory & Supervisory Framework for Liberia (MPRSFL) have no objection to the introduction of Islamic microfinance in the country. This research is a first to appraise critically some relevant laws on the legal framework of microfinance in Liberia and its relevance to Islamic microfinance. The Financial Institutions Act of 1999 confers on the Central Bank of Liberia the powers to regulate and supervise all financial institutions in the country, including the microfinance providers. The article concludes that the stakeholders need to continue supporting the microfinance sector, including Islamic microfinance in Liberia by building an appropriate legal ecosystem that providing for a smooth running of microfinance programmes in the country.

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3

Boye Dolo, Alvin. "An Assessment of the Impact of Credit Risk Management and Performance on Loan Portfolio at International Bank Liberia." Noble International Journal of Business and Management Research, no. 53 (March 31, 2021): 55–64. http://dx.doi.org/10.51550/nijbmr.53.55.64.

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This research entitled “An Assessment of the impact of credit risk management and performance on loan portfolio at International Bank Liberia Limited from 2015-2017 contributed to the body of knowledge to the beneficiaries. It findings are also important for the Central Bank to use in monitoring credit scoring and history across all commercial bank with in the country. This study was quantitative in nature, and involves mathematical modelling in order to determine the effect of changes in interest rates on profit and net worth of the sampled banks. This study uses panel data and assumes that the effect of interest rate changes vary across the observations and over time, therefore the use of stochastic econometric (panel regression analysis) process is appropriate. The population of the study will consist of 150 credit staffs and other staffs of IBLL. The study adopt a census study and collect data for two years from 1st January, 2015 to 31st December, 2017 and the researcher used sample out 85 respondents representing 57% as the sample size from the population of 150 persons from the study area. The findings reveals that it was established from the study that 25% of the respondents who were picked from the institution agreed that credit score is one of the major system used by the bank in determining loan and 32% selected credit history. It was also observed that that bank operate within a defined credit granting criteria. The findings also show that IBLL established a system of independent, ongoing assessment of the bank‟s credit risk management. It was proven that 48% of the respondents agree while 41% strongly agree. It was established that IBLL have a loan risk management policy in place. This policy is very crucial in providing guidelines on how to manage the various risks the bank encounter in their lending activities. Members of the bank and regulators are those responsible for the formulation of the credit policy with less input from employees.

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4

Nedzvedskas, Jonas, and Povilas Aniūnas. "TRANSFORMATIONS IN RISK MANAGEMENT OF CURRENCY EXCHANGE IN LITHUANIAN COMMERCIAL BANKS." Technological and Economic Development of Economy 13, no. 3 (September 30, 2007): 191–97. http://dx.doi.org/10.3846/13928619.2007.9637799.

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After the adoption of International Convergence of Capital Measurement and Capital Standards (widely known as Basel II requirements) in 2004 the risk management in commercial banks has changed dramatically. Lithuanian commercial banks are in transitional period now adapting their risk management systems to Basel II requirements. Market risk is considered one of the key risks in bank risk management structure, so proper management of market risk is essential for a modern bank. Currency exchange risk usually is the main component of market risk. Currency exchange risk management in Lithuanian commercial banks was not good enough; also the Central Bank's regulatory limits were liberal. But after the adoption of Basel II requirements, the entire risk management system is transforming and currency exchange risk management is affected. The objective of this paper is to demonstrate the transformations of currency exchange in Lithuanian commercial banks and propose an effective model for commercial banking. These transformations are performed in the regulatory system imposed by the Central Bank of Lithuania and through transformations of the bank's internal risk management system moving to internal (usually VaR based) models. VaR models are considered as modern methods for risk management. These models proposed by Central bank or other authorities for internal and statutory risk management in commercial banks. In this article, the proposed variation‐covariation VaR model was tested with real data using the back‐testing method. Back‐testing showed that the proposed model is reliable enough, because the number of mismatches was less than 5 % in all tested currency pairs during all testing. In most currency pairs mismatches percentage was lower than 3 %. Back‐testing results confirm that the VaR method is reliable enough for day‐to‐day using by financial institutions and traders.

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5

Kollie, Genesis B., and Roosevelt S. Prowd. "Assessing the impact of ASYCUDA on customs revenue performance: evidence from the Liberia Revenue Authority." African Multidisciplinary Tax Journal 2021, no. 1 (February 2021): 61–79. http://dx.doi.org/10.47348/amtj/2021/i1a4.

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This study sought to explore empirically the impact of an Automated System for Customs Data (ASYCUDA) on customs revenue performance at the Liberia Revenue Authority (LRA). We used monthly time series data sourced from the LRA, the Central Bank of Liberia, and various series of the Harmonized Tariff of Liberia. The data spans from January 2015 to December 2018. We employed the bounds testing approach to the Cointegration and Error Correction Model that is established within the Autoregressive Distributed Lag framework. The results revealed that total trade (Import*Export), goods and services tax (GST) and ASYCUDA positively impact customs revenue performance in both the short and long run while export and inflation were found to negatively affect customs revenue performance in both the short and long run. In addition, an error correction term of -0.837 was found, indicating that 83.7 per cent of the deviation created by shocks in the short run will be corrected in the long run; thus, confirming the existence of a long-run relationship among the variables used. For policy purposes, these findings suggest that ASYCUDA be rolled out to other ports of entry and exit to boost the efficiency of customs revenue generation. Moreover, capacity building should be carried out to complement the effective use of ASYCUDA. We also recommend that policies to reduce inflation be prioritised.

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6

Kaltenthaler, Karl C., and Christopher J. Anderson. "The Changing Political Economy of Inflation." Journal of Public Policy 20, no. 2 (August 2000): 109–31. http://dx.doi.org/10.1017/s0143814x00000787.

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A type of conventional wisdom has developed among many scholars that industrialized countries with independent central banks produce lower relative inflation rates than countries that do not have these institutions. We argue that the relative importance of central bank independence for fighting inflation changed fundamentally from the 1970s to the 1980s as a result of experiences in the advanced industrialized democracies, which led both Right and Left governments to move toward more neo-liberal macroeconomic policies. As governments made price stability more of a priority, the anti-inflationary effects of independent central banks would become much less pronounced. This hypothesis is tested and confirmed in the study in a multi-variate regression analysis using data from eighteen industrialized democracies.

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7

Polchanov, Andrii. "Coordination of state fiscal and monetary policy the in the context of post-conflict recovery." Accounting and Financial Control 1, no. 2 (July 11, 2017): 19–28. http://dx.doi.org/10.21511/afc.01(2).2017.03.

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The article is devoted to the study of fiscal and monetary components of state`s financial policy and their coordination after the completion of hostilities. The urgency of the topic is determined by the need to find an optimal (in terms of economic system) strategy of interaction between the government and the central bank in the conditions of post-conflict recovery. The purpose of the article is to summarize the world experience of formation of fiscal and monetary policy as well as their coordination in order to effectively overcome the consequences of military conflicts. The author analyzes the data on the post-war development of 12 countries that succeeded in restoring their national economies during the first decade after the end of hostilities (Angola, Cambodia, the Republic of Congo, Croatia, Georgia, Indonesia, Liberia, Macedonia, Serbia, Sierra Leone, Solomon Islands, Tajikistan) As a result, the author discovers a gradual transition from the fixed and regulated exchange rate regime to the floating exchange rate in the long-term perspective, reduction of inflation and interest rates on loans, as well as a gradual increase of GDP and the net inflow of foreign direct investments, while the share of tax revenues and public expenditures in GDP remained stable. On the basis of generalization of the world experience the conclusion was made about the key role of central banks in ensuring economic growth in the context of post-conflict recovery by ensuring price stability and stimulating lending. In addition, the importance of geographic location and availability of natural resources in the restoration of the national economy of some countries was emphasized.

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8

Bartniczak, Bartosz, and Andrzej Raszkowski. "Sustainable Development in African Countries: An Indicator-Based Approach and Recommendations for the Future." Sustainability 11, no. 1 (December 20, 2018): 22. http://dx.doi.org/10.3390/su11010022.

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This study addresses problems related to the level of sustainable development in African countries in the years 2002–2016. The introduction presents the current situation in Africa, the occurring transformations as well as the goals and definitions of sustainable development. The significance of social order in the aforementioned development has also been highlighted. The next part of the article features sustainability indicators, selected for the analysis and covering all the essential aspects, i.e., social, economic, environmental, spatial, institutional and political areas. The applied research method was the synthetic measure of development (SMD), whereas the data for calculations and analyses were retrieved from the sources of the World Bank. The key part of the study presents the research results showing the position of individual countries regarding the level of implementation of the sustainable development concept in the period 2002–2016. As part of the added value the selected problems of Africa and ways of solving them, along with the recommendations for the future, were listed and characterised. It was concluded that the situation of the African countries, in terms of their sustainable development level, improved significantly in the period under analysis. The crucial problem is that the discussed countries are still experiencing a relatively unfavourable situation in this respect. Cape Verde and Ghana are among the countries recording the best results. The least favourable situation was observed in the Democratic Republic of the Congo, Liberia, Chad, Central African Republic and Eritrea.

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9

Tucker, Paul. "How the European Central Bank and Other Independent Agencies Reveal a Gap in Constitutionalism: A Spectrum of Institutions for Commitment." German Law Journal 22, no. 6 (September 2021): 999–1027. http://dx.doi.org/10.1017/glj.2021.58.

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AbstractToday’s central banks wield extraordinary powers, both monetary and regulatory, and with a capacity to substitute for elected governments tempted to pass the buck. Debates about central banking’s powers and legitimacy barely touch, however, on whether and how monetary independence fits with the values that drive constitutionalism. It turns out that, for modern economies using fiat money, independence is a corollary of the higher level separation of (fiscal) powers between the legislative and executive branches. Even though independence is necessary, it needs to be carefully constrained by a “money-credit constitution.” Those general arguments, applicable in liberal democracies, do not carry across cleanly to the euro area. A principled case can be made for the ECB’s mandate being specially tight, but that is in tension with its de facto role as the emergency economic actor for the euro area. Facing up to that will be necessary sooner or later.

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10

Zharikov, М. V. "The Implementation Model of a Consensual Refnancing Rate for the BRICS Countries." Finance: Theory and Practice 23, no. 1 (February 27, 2019): 66–78. http://dx.doi.org/10.26794/2587-5671-2019-23-1-66-78.

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The relevance of the research subject is due to the fact that countries look for adaptive approaches to the turbulence of the international monetary system (IMS). The approaches of the BRICS countries to the IMS transformation have been fully studied in the economic literature. However, there are no researches on foundation of an advanced central bank as an alternative supranational monetary institution in the new international fnancial architecture. The article objective is to develop a mechanism for setting up the refnancing rate for the BRICS countries in case of the integration hypothesis the currency union, and the lender of last resort and the general unit of accounts. A liberal pricing method has been used to create the model. There is a hypothesis that the refnancing rate should be set at a higher level than that of the People’s Bank of China’s and lower than that of Brazil, Russia, India and South Africa’s, since it has comparative advantages in crediting. The mechanism of the consensual rate of the BRICS countries is based on the assumption that the amount of money in circulation may vary by an amount that does not cause negative consequences for national economies. The fundamental difference between the results of this study is in optimization of the credit resources ﬂow, which implies their distribution within certain limits and in several stages. The main provisions indicate that the optimal rate may provide a background for the coordination of monetary policies in the BRICS countries within the Central bank. The practical relevance of the model is that it can be used to establish the refnancing rate in the BRICS countries. The model suggests that the optimal crediting value in the BRICS countries should ft the GDP growth limits. To conclude, the optimal refnancing rate is a key issue in forming a monetary union and a common currency in the BRICS countries.

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11

Forte, Francesco. "Röpke and Einaudi: from the Civitas of Persons to the Idea of Europe." Journal for Markets and Ethics 6, no. 1 (June 1, 2018): 1–10. http://dx.doi.org/10.2478/jome-2018-0021.

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Abstract The first part of the paper deals with the so-called liberal Third Way of Röpke and Einaudi, which has, at its center, the person and civitas umana. Subsidiarity principle, market, and conform public interventions define the role and limits of public powers. The second part presents eight main indicators of the divergent performance of the four main Economic and Monetary Union (EMU) countries. The third part deals with the incompleteness of the institutional construct of the European Union (EU) and the EMU that are clubs of sovereign states in the light of Einaudi’s and Röpke’s ideas. Suggestion about corrections of fiscal compact, banking regulations, and “bail in” and about a closer cooperation between European Central Bank (ECB) monetary policy and European budget and EU fiscal policy concludes the paper.

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12

Barton, Anna. "LONG VACATION PASTORALS: CLOUGH, TENNYSON, AND THE POETRY OF THE LIBERAL UNIVERSITY." Victorian Literature and Culture 42, no. 2 (March 10, 2014): 251–66. http://dx.doi.org/10.1017/s1060150313000417.

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In the opening passage ofA Room of One's Own, Virginia Woolf catches herself, and is subsequently caught out, in a moment of reflection on the banks of a river, within the grounds of a barely fictionalised “Oxbridge University”:Here then was I (call me Mary Beton, Mary Seton, Mary Carmichael or by any name you please – it is not a matter of any importance) sitting on the banks of a river a week or two ago in fine October weather, lost in thought. That collar I have spoken of, women and fiction, the need of coming to some conclusion on a subject that raises all sorts of prejudices and passions, bowed my head to the ground. To the right and left bushes of some sort, golden and crimson, glowed with the colour, even it seemed burnt with the heat, of fire. On the further bank the willows wept in perpetual lamentation, their hair about their shoulders. The river reflected whatever it chose of sky and bridge and burning tree, and when the undergraduate had oared his boat through the reflections they closed again, completely, as if he had never been. There one might have sat the clock round lost in thought. (6–7)In this fictional account of her trespass on university property, Woolf forges a close association between the environment in which she does her thinking and what she thinks, so that body, mind, and text are shown to be engaged in the same work. Her thoughts, she suggests, have a physical weight: they bow her head to the ground. The landscape bows with her so that a momentarily surreal vista of flaming leaves and long-haired trees is at once the place she is sitting and the space of her imagination, and the “reflections” through which the undergraduate oars take on a double meaning as the boat floats through her consciousness and back out again. The interruption of the beadle causes her to lose her train of thought: it is a fish that jumps and then disappears back into the river. This reverie, which rehearses the lecture's central argument concerning the material conditions required for gender equality, identifies the university as a case in point. Oxbridge is experienced by Woolf's fictional avatar as a place where intellectual freedom is achieved within a series of carefully regulated spaces, and her essay balances the attraction and acknowledged value of these exclusive spaces against the experience of her own exclusion. As so often in her work, the geography of Woolf's prose is haunted by the Victorians, whose lyric voices she can only half hear as she sits at a college window. Her essay therefore invites a return to nineteenth-century accounts of university life that pay attention to the material, or formal, delineations of the university.

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13

Bebeji, Umar Sani, Hussaini Bala, and Hassan Bala. "THE LEGAL FRAMEWORK FOR ISLAMIC BANKING AND THE QUEST FOR FINANCIAL INCLUSION IN NIGERIA." Jurnal Syariah 28, no. 3 (December 31, 2020): 501–38. http://dx.doi.org/10.22452/js.vol28no3.6.

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The banking sector is the backbone of every economy. It determines not only the pace of growth of modern economic systems, but also the prosperity of nations. But its reliance on interest, liberal prudential guidelines and its very capitalist foundation make it incompatible with Islamic law – the faith practiced predominantly in some regions of Nigeria. Securing loans for investments comes with cut-throat conditions, riddled with cases of fraudulent and unfair practices. As a way around this, scholars began to think of how to expurgate those elements considered incompatible with the Shariah. Since the enactment of the Banks and Other Financial Institution’s Decree in 1991, which vaguely introduced the profit loss sharing principle of banking, nothing tangible was done to give effect to the provisions until 2011 when the Non-Interest Financial (NIFI) Services Guidelines was issued by the CBN. As a result of this development Jaiz Bank PLC was granted a license as a regional full-fledged Islamic bank, which metamorphosed into a national bank. This, however, was not without resistance as manifested in a suit against the CBN for issuing the guidelines. The paper, thus, attempts an analysis of the legal framework and how it can push up financial inclusion in Nigeria, adopting the doctrinal methodology approach to examine legislation, case-law and existing literature. It highlights some of the approaches of the Central Bank of Nigeria (CBN) and efforts to make the legal and institutional framework favourable for Islamic banking to thrive so that the substantial Muslim population can be brought into the formal financial stream to access funds for investments without upsetting the fundamental teachings of Islam. It further argues that that there is a strong correlation between the inadequacy of legal support for Islamic banking and high rate of financial exclusion particularly in the Muslim-dominated communities. Similarly, it reveals that there is not a shred of rational basis for the opposition to Islamic banking in Nigeria as it does not seek to foster any sinister agenda of “Islamising” the polity. As Nigeria is trying to push for more financial inclusion, Islamic banking can help improve existing credit delivery mechanisms for effective outreach to the teeming excluded population of Muslims. It, therefore, strongly recommends that a comprehensive legislation be enacted by the National Assembly (NASS) of Nigeria to support the prospects of this novel and popular banking model and also help promote and protect investments in the area. This will shove off financial inclusion in many ways.

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14

Navarro, Vicente, and John Schmitt. "Economic Efficiency versus Social Equality? The U.S. Liberal Model versus the European Social Model." International Journal of Health Services 35, no. 4 (October 2005): 613–30. http://dx.doi.org/10.2190/6ljj-hl7h-gf0x-66rc.

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This article begins by challenging the widely held view in neoliberal discourse that there is a necessary trade-off between higher efficiency and lower reduction of inequalities: the article empirically shows that the liberal, U.S. model has been less efficient economically (slower economic growth, higher unemployment) than the social model in existence in the European Union and in the majority of its member states. Based on the data presented, the authors criticize the adoption of features of the liberal model (such as deregulation of their labor markets, reduction of public social expenditures) by some European governments. The second section analyzes the causes for the slowdown of economic growth and the increase of unemployment in the European Union—that is, the application of monetarist and neoliberal policies in the institutional frame of the European Union, including the Stability Pact, the objectives and modus operandi of the European Central Bank, and the very limited resources available to the European Commission for stimulating and distributive functions. The third section details the reasons for these developments, including (besides historical considerations) the enormous influence of financial capital in the E.U. institutions and the very limited democracy. Proposals for change are included.

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Mautner, Menachem. "The Occupied Territories, Gaza, and Israel’s Recent Slide to Authoritarianism." Law & Ethics of Human Rights 14, no. 2 (November 25, 2020): 273–92. http://dx.doi.org/10.1515/lehr-2020-2015.

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AbstractIn recent years there have been numerous warnings in the press and in the social networks that Israel is about to convert its liberal democracy into a fascist regime. This Article argues that the occupation of the West Bank stands at the root of the most important processes that have been taking place in Israel in the past five decades. One of those processes is the erosion of Israel’s liberalism. I claim that the prolongation of the occupation is the central, lasting threat to Israel’s liberalism. In essence, the occupation breeds denunciations of and protests against the government and the Israel Defense Forces, and these, in turn, bring about measures on the part of the government and right-wing civil society organizations that undermine or threaten Israel’s liberalism. In addition, the full-scale wars between Israel and Gaza, and the continuation of violence between the parties in the periods between the wars, undermine or threaten Israel’s liberalism.

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16

Øksendal, Lars Fredrik. "The impact of the Scandinavian Monetary Union on financial market integration." Financial History Review 14, no. 2 (October 2007): 125–48. http://dx.doi.org/10.1017/s0968565007000510.

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In the period from 1877 until the outbreak of World War I, Sweden, Denmark and Norway constituted a currency area – the Scandinavian Monetary Union (SMU). They shared the same unit of account, the gold krone. Both full-bodied gold coins and token coins of the three countries served as legal tender and circulated freely within the union. Initially set up to preserve the traditional circulation of neighbouring coins in the border regions, the central bank cooperation was extended to a mutual settlement mechanism (1885) and later reciprocal acceptance of notes at par (1901). A desire for economic integration was present under the surface of this practical approach, mirroring the predominant liberal worldview of the 1870s. For instance, the Norwegian government saw a common coinage as an instrument for ‘knitting together the three nations to a single commercial territory’. In the parliamentary debate on Norwegian entry into the union a supporter argued that ‘the real objective of unity in coin had to be to bring the countries closer together’. Thus, from the outset, the SMU was a combination of practical arrangements and lofty ambitions.

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17

Gonpu, George P. "Governance, Budget Deficits And Financial Crisis: An Analysis Of Governments Role In The Liberian Banking Crisis." International Business & Economics Research Journal (IBER) 13, no. 5 (August 23, 2014): 1107. http://dx.doi.org/10.19030/iber.v13i5.8776.

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The adverse macroeconomic consequences of financial crises have heightened research interests in their causes. However, little is known about the role of political influence as a cause of financial crises in small developing countries. This research explores the role of governance as one of the causes of failures in nine of Liberias twelve commercial banks during the financial crises during the period 1986 to 1999. In particular, this paper explores how the government used appointments primarily based on kinship to influence the banking sector and render the National Bank of Liberia ineffective in implementing its regulatory powers. The research found that regulatory standards, weakened by nepotism, led to corruption and mismanagement in the banking sector. In addition, through the governments political influence over the National Bank of Liberia, it was able to finance unsustainable fiscal deficits by borrowing from commercial banks and the National Bank of Liberia, culminating in severe financial crises.

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de Haan, Jakob, Sylvester C. W. Eijffinger, and Krzysztof Rybiński. "Central bank transparency and central bank communication: Editorial introduction." European Journal of Political Economy 23, no. 1 (March 2007): 1–8. http://dx.doi.org/10.1016/j.ejpoleco.2006.09.010.

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19

Bech, Morten L., James T. E. Chapman, and Rodney J. Garratt. "Which bank is the “central” bank?" Journal of Monetary Economics 57, no. 3 (April 2010): 352–63. http://dx.doi.org/10.1016/j.jmoneco.2010.01.002.

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20

Reis, Ricardo. "Central Bank Design." Journal of Economic Perspectives 27, no. 4 (November 1, 2013): 17–44. http://dx.doi.org/10.1257/jep.27.4.17.

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Starting with a blank slate, how could one design the institutions of a central bank for the United States? This paper explores the question of how to design a central bank, drawing on the relevant economic literature and historical experiences while staying free from concerns about how the Fed got to be what it is today or the short-term political constraints it has faced at various times. The goal is to provide an opinionated overview that puts forward the trade-offs associated with different choices and identifies areas where there are clear messages about optimal central bank design.

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21

Baillie, Richard T. "Central bank intervention." Journal of International Financial Markets, Institutions and Money 10, no. 3-4 (December 2000): 225–28. http://dx.doi.org/10.1016/s1042-4431(00)00039-1.

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22

Geraats, Petra M. "Central Bank Transparency." Economic Journal 112, no. 483 (November 1, 2002): F532—F565. http://dx.doi.org/10.1111/1468-0297.00082.

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23

Jayasinghe, Kelum, Pawan Adhikari, Simon Carmel, and Ana Sopanah. "Multiple rationalities of participatory budgeting in indigenous communities: evidence from Indonesia." Accounting, Auditing & Accountability Journal 33, no. 8 (September 4, 2020): 2139–66. http://dx.doi.org/10.1108/aaaj-05-2018-3486.

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PurposeThis paper analyses participatory budgeting (PB) in two Indonesian indigenous communities, illustrating how the World Bank sponsored neo-liberal model of “technical rational” PB is overshadowed by local values and wisdom, consisting of sophisticated, pre-existing rationalities for public participation.Design/methodology/approachAdopting a qualitative and interpretive case study approach, the study draws on data from semi-structured interviews with key stakeholders and periods of participant observation. The paper utilises Weber's characterisations of rationality to analyse the PB process in indigenous communities.FindingsThe co-existence of both formal (technical) and substantive rationalities leads two Indonesian indigenous communities to execute participatory budgeting pragmatically. The formal budgetary mechanisms (Musrenbang), cascaded down from central and local governments, are melded with, and co-exist alongside, a tradition of public participation deriving from local cultural values and wisdom (Rembug warga). Reciprocal relationships and trust based on a pre-existing substantive rationality result in community members adapting budget practices while also preserving their local culture and resisting the encroachment of neo-liberal initiatives. The paper offers deeper analysis of the unintended consequences of attempting to implement technical rational accounting reforms and practices in indigenous settings.Originality/valueThe paper provides important insights into the way the interplay between formal and substantive rationality impacts on accounting and budgeting practices in indigenous communities. Our study also presents a unique case in emerging economy contexts in which neoliberal initiatives have been outmanoeuvred in the process of preserving indigenous values and wisdom. The informal participatory mechanism (Rembug warga) retained the community trust that neoliberalism systematically erodes.

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Kapstein, Ethan B. "Models of International Economic Justice." Ethics & International Affairs 18, no. 2 (September 2004): 79–92. http://dx.doi.org/10.1111/j.1747-7093.2004.tb00469.x.

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Articulating and examining the likely consequences of different theoretical and policy approaches to economic justice serves to highlight potential trade-offs and conflicts among them, and helps us to think more carefully about these trade-offs and what their consequences might be. Some of us, for example, might support a liberal free trade regime because we believe it promotes greater income equality among countries. But we might also reasonably assert that such a regime exacerbates economic injustices within some countries by causing dislocation and unemployment, particularly among vulnerable socioeconomic groups such as unskilled workers. This essay presents three models that seek to capture some of the central normative concerns that have been expressed by critics of economic globalization-communitarian, liberal internationalist, and cosmopolitan prioritarian. I indicate the kinds of economic models and data sets that are relevant to determining whether and to what extent greater openness to global trade poses a threat to economic justice as conceived by each of these approaches. Specifically, I use these analytical tools in order to relate changes in openness to foreign trade to other social and economic outcomes, particularly changes in income inequality and poverty, which have tended to draw the attention of nearly all theorists of economic justice. I characterize and critique the approach to economic justice that has been (implicitly) adopted by the major international institutions like the World Bank, International Monetary Fund, and World Trade Organization. I conclude with some policy implications and suggestions for further research in the area of international economic justice.

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Story, Jonathan. "Les politiques ouest-européennes et le dollar : Dépendance nationale ou autonomie régionale." Études internationales 14, no. 4 (April 12, 2005): 683–744. http://dx.doi.org/10.7202/701579ar.

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The lack of autonomy of Western European states, that is, the limitations which they confront in terms of translating their policy preferences into authoritative actions, cannot be considered solely in terms of idiosyncratic domestic political institutions and cultures, or as the result of greater sensibility and vulnerability to interdependence through the flow of goods, capital and technology. The argument develops around the generalisation that during the period of "détente" from 1965 to 1979, the United States, as the world central bank, inflated the world political economy ; thereafter, the questioning of détente accompanied a United States-led policy of world deflation. European politics, in a variety of intricate ways, followed the rythm set by the United States, with a period of state policy activism in the late 1960s to mid-1970s followed by more sceptical attitudes by public officials, supported by conservative or liberal parties, on the limitations of state action. But while it could be argued that the autonomy of OECD European states was strictly limited in economic policy by the integration of national into European and world markets, it is also demonstratable that the most sensitive of these markets - the world financial markets - are most susceptible to state policy, particularly that of the United States. In turn, the influence exerted on government preferences by world financial markets has grown to such an extent that by 1983, Western European governments are all aligning priorities on what are taken to be market criteria. If fact, they are aligning their priorities on the preferences of the great powers in a period of heightened international tension. Thus, the lack of autonomy of Western European states is of political origin: their subordination through lack of continued regional autonomy in defense and finance. Implicitly, this article suggests a move in Western Europe to a confederal armed force and a European Reserve Bank, as the precondition for a revitalised Atlantic alliance.

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Ize, Alain, Arto Kovanen, and Timo Henckel. "Central Banking without Central Bank Money." IMF Working Papers 99, no. 92 (1999): 1. http://dx.doi.org/10.5089/9781451851571.001.

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Beblavy, Miroslav. "Central Bankers and Central Bank Independence." Scottish Journal of Political Economy 50, no. 1 (February 2003): 61–68. http://dx.doi.org/10.1111/1467-9485.00254.

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Radovic, Milivoje, Milena Radonjic, and Jovan Djuraskovic. "Central Bank Independence – The Case of the Central Bank of Montenegro." Journal of Central Banking Theory and Practice 7, no. 3 (September 1, 2018): 25–40. http://dx.doi.org/10.2478/jcbtp-2018-0021.

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Abstract In recent decades, there has been a trend in increasing the level of independence of central banks. The key factor that has contributed to a growing interest in this concept is grounded in economic theory that confirms the link between a lower inflation rate and a greater level of central bank independence. For this reason, in many countries, the existing regulations relating to central bank have been modified to protect its position from the absolute influence of the executive power of the state. This trend was particularly prevalent in transition countries, which was conditioned primarily by the EU accession criteria. The aim of this paper is to analyse independence of the Central Bank of Montenegro through the prism of functional, institutional, financial, and personal independence, and to assess the level of its legal independence by using appropriate indices.

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29

Goldberg, Linda S., and Michael W. Klein. "Evolving Perceptions of Central Bank Credibility: The European Central Bank Experience." NBER International Seminar on Macroeconomics 7, no. 1 (May 2011): 153–82. http://dx.doi.org/10.1086/658305.

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PAKSOY, H. Mustafa. "RELATION BETWEEN ISLAMIC BANK AND CENTRAL BANK." International Journal of Social Humanities Sciences Research (JSHSR) 2, no. 3 (January 1, 2015): 57–67. http://dx.doi.org/10.26450/jshsr.9.

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31

Mersch, Yves. "Central Bank independence revisited." ERA Forum 18, no. 4 (January 23, 2018): 627–45. http://dx.doi.org/10.1007/s12027-018-0491-x.

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Walsh, Carl E. "Central Bank Independence Revisited." Economic Papers: A journal of applied economics and policy 30, no. 1 (March 2011): 18–22. http://dx.doi.org/10.1111/j.1759-3441.2011.00106.x.

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Chatterjee, Charles. "The European Central Bank." Journal of Banking Regulation 4, no. 3 (March 2003): 225–36. http://dx.doi.org/10.1057/palgrave.jbr.2340142.

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Hayo, Bernd, and Carsten Hefeker. "Reconsidering central bank independence." European Journal of Political Economy 18, no. 4 (November 2002): 653–74. http://dx.doi.org/10.1016/s0176-2680(02)00113-1.

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GOMEZ-BARRERO, SEBASTIAN, and JULIAN A. PARRA-POLANIA. "CENTRAL BANK STRATEGIC FORECASTING." Contemporary Economic Policy 32, no. 4 (March 11, 2014): 802–10. http://dx.doi.org/10.1111/coep.12049.

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36

Plosser, Charles I. "A Limited Central Bank." Journal of Applied Corporate Finance 31, no. 4 (November 21, 2019): 16–20. http://dx.doi.org/10.1111/jacf.12372.

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37

Scharrer, Hans-Eckart. "A European central bank?" Intereconomics 23, no. 2 (March 1988): 53–54. http://dx.doi.org/10.1007/bf02927022.

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Jones, Erik, and Matthias Matthijs. "Rethinking Central-Bank Independence." Journal of Democracy 30, no. 2 (2019): 127–41. http://dx.doi.org/10.1353/jod.2019.0030.

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OLDANI, CHIARA. "EUROPEAN CENTRAL BANK-ECB." BANKPEDIA REVIEW 2, no. 2 (December 2012): 15–17. http://dx.doi.org/10.14612/oldani_2_2012.

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Nyborg, Kjell G. "Central bank collateral frameworks." Journal of Banking & Finance 76 (March 2017): 198–214. http://dx.doi.org/10.1016/j.jbankfin.2016.12.010.

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Schabert, Andreas. "Optimal central bank lending." Journal of Economic Theory 157 (May 2015): 485–516. http://dx.doi.org/10.1016/j.jet.2015.01.016.

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van der Cruijsen, Carin A. B., Sylvester C. W. Eijffinger, and Lex H. Hoogduin. "Optimal central bank transparency." Journal of International Money and Finance 29, no. 8 (December 2010): 1482–507. http://dx.doi.org/10.1016/j.jimonfin.2010.06.003.

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Chapman, James T. E., Jonathan Chiu, and Miguel Molico. "Central bank haircut policy." Annals of Finance 7, no. 3 (November 19, 2010): 319–48. http://dx.doi.org/10.1007/s10436-010-0171-5.

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Giannone, Domenico, George Kapetanios, and Michael W. McCracken. "Editorial: Central bank forecasting." International Journal of Forecasting 35, no. 4 (October 2019): 1561–63. http://dx.doi.org/10.1016/j.ijforecast.2019.08.001.

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45

Nash, Marian, and (Leich). "Contemporary Practice of the United States Relating to International Law." American Journal of International Law 90, no. 2 (April 1996): 263–79. http://dx.doi.org/10.2307/2203689.

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In response to a request from the court to the Legal Adviser of the Department of State, by a letter dated November 29, 1995, the United States submitted a Statement of Interest in Meridien International Bank Ltd. v. Government of the Republic of Liberia. The United States stated that the executive branch had determined that allowing the (second) Liberian National Transitional Government (LNTG II) access to American courts was consistent with U.S. foreign policy. The court, the United States maintained, should therefore accord that Government standing to assert claims and defenses in the action on behalf of the Republic of Liberia.

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Montes, G. C., and A. Scarpari. "Does central bank communication affect bank risk-taking?" Applied Economics Letters 22, no. 9 (November 12, 2014): 751–58. http://dx.doi.org/10.1080/13504851.2014.975325.

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Blinder, Alan S. "How Central Should the Central Bank Be?" Journal of Economic Literature 48, no. 1 (March 1, 2010): 123–33. http://dx.doi.org/10.1257/jel.48.1.123.

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The nature and scope of the Federal Reserve's authority and the structure of its decision making are now “on the table” to an extent that has not been seen since 1935, and the Fed's vaunted independence is under some attack. This essay asks what the Federal Reserve should—and shouldn't—do, leaning heavily on the concept of economies of scope. In particular, I conclude that the central bank should monitor and regulate systemic risk because preserving financial stability is (a) closely aligned with the standard objectives of monetary policy and (b) likely to require lender of last resort powers. I also conclude that the Fed should supervise large financial institutions because that function is so closely to regulating systemic risk. However, several other functions now performed by the Fed could easily be done elsewhere. (JEL E52, E58, G21, G28)

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Peek, J., E. S. Rosengren, and G. M. B. Tootell. "Is Bank Supervision Central to Central Banking?" Quarterly Journal of Economics 114, no. 2 (May 1, 1999): 629–53. http://dx.doi.org/10.1162/003355399556098.

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49

Soldatos, Gerasimos T., and Erotokritos Varelas. "Emotional intelligence in a neoclassical framework and the nature of capitalism." Journal of Economic Studies 46, no. 1 (January 7, 2019): 2–17. http://dx.doi.org/10.1108/jes-08-2017-0215.

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Purpose The purpose of this paper is to introduce the factor of emotional intelligence (EI) into the calculus of neoclassical analysis under precautionary saving aiming at stabilizing consumption in the case of an exogenous output shock. Design/methodology/approach The introduction of EI differentiates individual firms in handling production uncertainty and individual consumers in coping with consumption uncertainty, but the source of uncertainty is exogenous and affects all the same; there are no idiosyncratic risks and uncertainties. This in conjunction with the median-voter-theory like approach to agent heterogeneity prompted by EI, replicates the result that aggregates quantitative predictions are almost indistinguishable from their representative agent counterpart in life cycle models of precautionary saving. Findings EI corroborates stabilization greatly but only the introduction of a monetary authority would fully stabilize the system by injecting or withdrawing money depending on the state of the economy. Money becomes centrally issued and it would be destabilizing if it was accompanied by central and/or commercial bank seigniorage. Median EI is found to coincide with homo economicus' rationality. These results point to the importance of preserving the institutional character of capitalism as a free enterprise but also a competitive system under a government in the service of the private sector. Originality/value Methodologically, this paper acknowledges the mutual interdependence between human action and social structure in the liberal setting in which free enterprise is a socioeconomic process that identifies value through exchange under the sociopolitical process of democracy.

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Lee, Joan. "Reviewer Acknowledgements for Sustainable Agriculture Research, Vol. 10, No. 2." Sustainable Agriculture Research 10, no. 2 (April 29, 2021): 98. http://dx.doi.org/10.5539/sar.v10n2p98.

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Sustainable Agriculture Research wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated. Sustainable Agriculture Research is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please contact us for the application form at: sar@ccsenet.org Reviewers for Volume 10, Number 2 Araya Ranok, Department of Applied Biology, Faculty Science and Liberal Arts, Thailand Cristina B. Pocol, University of Agricultural Sciences and Veterinary Medicine of Cluj Napoca, Romania Daniel L Mutisya, Kenya Agricultural & Livestock Research Organization, Kenya Darwin Pangaribuan, Lampung University, Indonesia Gunnar Bengtsson, Sweden Inder Pal Singh, Guru Angad Dev Veterinary and Animal Science University (GADVASU), India Katarzyna Panasiewicz, Poznan University of Life Sciences, Poland Khaled Sassi, National Agronomic Institute of Tunisia, Tunisia Luciano Chi, Sugar Industry Research and Development Institute, Belize Manuel Teles Oliveira, University Tras os Montes Alto Douro (UTAD), Portugal Murtazain Raza, Subsidiary of Habib Bank AG Zurich, Pakistan Ram Niwas, Swami Keshwanand Rajasthan Agricultural University, India Roberto José Zoppolo, Instituto Nacional de Investigación Agropecuaria (Uruguay), Uruguay Subhash Chand, Central Agricultural Research Institute CARI Port Blair, India

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