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This open access book is the first attempt to elaborate the formalization phase of banking supervision in eight developed countriesUSA, Japan, Sweden, Germany, Switzerland, Belgium, France, and UK. This innovative study in the field of banking supervision history identifies why national histories of banking supervision share similarities, but also remain different and are heavily path dependent. This book will be of great interest not only to financial/economic historians but also to general readers interested in banking supervision, i.e., students, bankers, supervisors, and international officials.

Banks and banking --- State supervision. --- State supervision --- History --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Banking Supervision --- Financial Crises --- Incremental Development --- Financial Globalization --- Formalization of Banking Supervision --- Financial Economics --- Open Access

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This book offers a novel treatment of one of the most important and long-standing research agendas in critical political economy: the theorizing of stages of capitalist development. Albritton advances the work of Japanese economist, Kozo Uno, to explore capital accumulation and its ideological, legal and political supports, not only in the stages of mercantilism, liberalism and imperialism, but also in the post-World War II capitalist stage of consumerism. The power of Albritton’s adoption of this Japanese approach resides in the crisp clarity it achieves over the way stage theorizing of capitalism draws on both economic theory and historical analysis. In the new, fully revised edition, written with Richard Westra, two new chapters are added. One meticulously examines the tendencies of capitalism euphemized as globalization and financialization which followed the crisis of the stage of consumerism. The other deals with current threats to civilization posed by burgeoning militarism, environmental destruction and climate apocalypse. The concluding chapter argues for the necessity of major social change to ensure a liveable future for humanity. The book will be of interest to researchers and students of political economy and the history of economic thought, as well as a wider audience interested in the transformation and crises of capitalism Robert Albritton is Professor Emeritus in the Department of Political Science at York University, Canada. Richard Westra is University Professor in the Institute for Political Science at University of Opole, Poland and Adjunct Professor in the Center for Macau Studies, University of Macau.

Capitalism. --- Marxian economics. --- Uno, Kōzō, --- Marxist economics --- Communism --- Schools of economics --- Socialism --- Market economy --- Economics --- Profit --- Capital --- Yuye, Hongcang, --- Yü-yeh, Hung-tsang, --- 宇野弘蔵, --- 宇野弘藏, --- Finance. --- Economics. --- Financial Economics. --- Political Economy and Economic Systems. --- History of Economic Thought and Methodology. --- History. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Funding --- Funds --- Currency question

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This book analyzes the impact of Covid-19 in different areas such as corporate social responsibility and legislation in SMEs, insolvency law, behavioral finance, government interventions in markets, financial disclosure, the emergence of unregulated financial sectors, the increase of coronavirus-related crimes, and the development of banking regulations in the Covid-19 pandemic, among others. The coronavirus epidemic, which has spread throughout the world, has highlighted the inadequacies of the health and social systems of all states, even the most advanced. The health emergency has required extraordinary measures, especially at the level of laws that are essential for the preservation of lives, health, and livelihoods. The priority for governments and even the international community was, from the outset, to prevent infections and care for those affected. Such a strategy required an unusual increase in health spending, even though it exceeded the State's financial capacity and lacked fiscal space. In addition to this challenge, which has not yet been overcome, there is another, that of redressing the consequences of the measures taken (general containment). It should be pointed out that during health crises, the state may have to review the requirement for transparency because of the emergency, but not free itself from it. The urgency could never be an alibi for a violation of citizens' rights and freedoms. With urgency, financial management systems must be flexible and responsive to all occurrences, while ensuring optimal use of resources and minimizing the risks of fraud and corruption.

Business enterprises --- Finance. --- Business finance --- Business financial management --- Financial analysis of business enterprises --- Financial management, Business --- Financial management of business enterprises --- Financial planning of business enterprises --- Managerial finance --- Law. --- Finance, Public. --- Medical economics. --- Financial Economics. --- Corporate Finance. --- Public Economics. --- Health Economics. --- Economics, Medical --- Health --- Health economics --- Hygiene --- Medical care --- Medicine --- Cameralistics --- Public finance --- Public finances --- Currency question --- Acts, Legislative --- Enactments, Legislative --- Laws (Statutes) --- Legislative acts --- Legislative enactments --- Jurisprudence --- Legislation --- Funding --- Funds --- Economics --- Economic aspects

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The aim of this volume is to foster more sustainable business models through financial markets. To that end, it is necessary to know the main global challenges facing financial markets and their impact on creating sustainable value in business models of enterprises in the context of sustainable adaptation. The book focuses on assessing the decision criteria adopted by financial markets in the process of transaction risk valuation, in terms of the presence of Environmental, Social, and Governance (ESG) criteria, and by assessing the impact of including these criteria in the risk assessment process by financial markets in business decisions, leading as a consequence to building new value in the form of a sustainable business model. The book presents global ESG risks facing the financial markets, and discusses how ESG risks are managed and monitored, and how financial markets can measure and operationalize extra-financial risks in its assessment process. The book also analyses ESG risk implications and influences on company behavior, and the actions that companies should take considering the ESG assessment requirements of financial markets. Finally, it provides a comprehensive, structured, and systematic view of how financial markets and companies should adapt and improve their business models. The book provides unique challenges for investors, companies, financial markets, and for our society as a whole, advancing traditional risk management approaches to address global risks.

Business planning. --- Capital market. --- Capital markets --- Market, Capital --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Business enterprises --- Business plans --- Corporate planning --- Corporate strategy --- Corporations --- Strategy, Corporate --- Planning --- Strategic planning --- Sustainability. --- Economic geography. --- Finance. --- Economic development. --- Economic Geography. --- Financial Economics. --- Economic Development, Innovation and Growth. --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Funding --- Funds --- Currency question --- Geography, Economic --- World economics --- Geography --- Commercial geography --- Sustainability science --- Human ecology --- Social ecology

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This paper provides new evidence on the role of IMF programs in stimulating private sector investments. Using detailed firm-level data on tangible fixed assets and a local projection methodology, we first estimate the dynamic response of firm investments to the approval of an IMF arrangement. We find that distinguishing between GRA and PRGT financing matters for the path of firm investment and its growth, and we also document the presence of two financial channels; the degree of firms’ external financial dependence and firms’ sectoral uncertainty. Exploiting these firm-level characteristics, we employ a difference-in-differences approach to understand the mechanisms through which the approval of an IMF arrangement propagates in the private sector. We find that the more firms rely on external finance and the more they are subject to uncertainty, the less binding these financial frictions become, and hence the more firms invest following a program approval. Finally, using ownership data, we find that private investments are stimulated more for domestic firms. The presence of a private investment transmission channel could help improve our understanding of what factors could affect the success and effectiveness of IMF programs.

Macroeconomics --- Economics: General --- Investments: General --- Economic Theory --- Accounting --- Exports and Imports --- Financial Risk Management --- Investment --- Capital --- Intangible Capital --- Capacity --- International Monetary Arrangements and Institutions --- Financial Economics --- Public Administration --- Public Sector Accounting and Audits --- Current Account Adjustment --- Short-term Capital Movements --- Financial Crises --- Economic & financial crises & disasters --- Economics of specific sectors --- Economic theory & philosophy --- Financial reporting, financial statements --- International economics --- Private investment --- National accounts --- Financial frictions --- Economic theory --- Financial statements --- Public financial management (PFM) --- Balance of payments need --- Balance of payments --- Financial crises --- Currency crises --- Informal sector --- Economics --- Saving and investment --- Economic forecasting --- Finance, Public