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I want to use an Account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) as a proxy for financial inclusion , but i face a issue that world bank just have 2011, 2013, 2015, 2017 data only. Does some use face similar issue?
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do you solve this problem, please if you get the data contact me, thanks alot
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The current technological revolution, known as Industry 4.0, is determined by the development of the following technologies of advanced information processing: Big Data database technologies, cloud computing, machine learning, Internet of Things, artificial intelligence, Business Intelligence and other advanced data mining technologies.
In connection with the above, I would like to ask you:
Which information technologies of the current technological revolution Industry 4.0 contribute the most to reducing the asymmetry of information between counterparties of financial transactions?
The above question concerns the asymmetry of information between such financial transaction partners, such as between borrowers and banks granting loans, and before granting a loan carrying out creditworthiness of a potential borrower and the bank's credit risk level associated with a specific credit transaction and, inter alia, financial institutions and clients of their financial services.
Please reply
Best wishes
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Information asymmetry between the financial institution offering certain financial services and the client can be reduced through the increase in the use of ICT and Industry 4.0 information technologies for remote, web-based service and concluding transactions. In addition, customers can use social media portals where they share their experiences of using specific financial services.
Best wishes,
Dariusz Prokopowicz
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Academic incubators of innovation and entrepreneurship are developed at universities to support innovation and entrepreneurship of students. Incubators are also a supplement to the educational program in the field of activating the innovation and entrepreneurship of students. Incubators sometimes also perform functions or cooperate with a career office for students. Career offices collect employment offers and organize internships for students through cooperation with companies and institutions that employ or give practice to students.
Sometimes academic incubators of innovation and entrepreneurship also cooperate with various institutions and companies in which students find employment or take apprenticeships. In addition, academic incubators of innovation and entrepreneurship, cooperating with various institutions and companies, enable the establishment of clusters of innovation, in which various economic entities, public institutions, scientific institutes and universities cooperate with each other. In this way, the possibilities of entrepreneurship development and generation of innovative solutions in assumed and developed research projects and startups are increasing.
Sometimes, also with the innovation cluster or business incubator, financial institutions cooperate, primarily banks offering financial support in the form of preferential loans for developing innovative startups. However, at the early stage of the establishment of business activity by students and organizations, the most important role is provided by substantive support in the field of advising on the formal and legal issues and accounting service of the university, lecturers and employees of the academic entrepreneurship incubator.
Do you agree with my opinion on this matter?
In view of the above, I am asking you the following question:
What is the role of academic business incubators?
Please reply
I invite you to the discussion
Thank you very much
Best wishes
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Dear Roberto - Minadeo,
Yes. I, too, believe, like you, that academic business incubators are an important source of social and business innovation and entrepreneurship.
Thank you, Regards,
Dariusz Prokopowicz
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Will the social and psychological aspects of interpersonal contacts and customer needs in this matter be a barrier to the creation of fully automated electronic banks without staff?
Will one of the products of Industry 4.0 be the creation of fully automated electronic banks without staff?
Theoretically, it may be possible, however, do banks' clients expect it?
At the end of the twentieth century, publications appeared that confirmed this type of thesis and suggested that the development of banking is heading in this direction, ie towards full automation and electronization, remote service through the Internet of clients of financial institutions. However, at the beginning of the 21st century, the situation is changing.
Despite the development of artificial intelligence, intenet of things etc. and the use of new information technologies, eg for the creation of automated electronic advisers, electronic avatars simulating a bank employee or other financial institution providing advice to a client served via a website, some of the bank clients do not want to part with a counselor in the person of a man, not a machine.
In connection with the above, will the social and psychological aspects of interpersonal contacts and customer needs in this matter be a barrier to the creation of fully automated electronic banks without staff?
Do you agree with me on the above matter?
In the context of the above issues, I am asking you the following question:
Will the social and psychological aspects of interpersonal contacts and customer needs in this matter be a barrier to the creation of fully automated electronic banks without staff?
Please reply
I invite you to the discussion
Thank you very much
Best wishes
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Respected Doctor
We researchers should offer our thanks to you, and to every researcher who presents us with an accurate scientific question.
greetings
Senior lecturer
Nuha hamid taher
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Do multinational corporations and financial institutions, including banks and investment funds, play a significant role in generating globalization processes?
In recent years, the importance of supranational large corporations and financial institutions, including banks and investment funds, has been growing.
These large industrial, service, commercial and financial corporations are a particularly important factor in contemporary globalization processes. If such large corporations operate cross-border, cross-border in many countries, including small economies, generate negative processes of globalization, then in these countries reverse and deglobalization processes may appear.
Deglobalization, ie the reverse process to globalization, is taking place most strongly in those economic regions in which globalization processes generate many negative aspects.
In view of the above, I would like to ask you: Do multinational corporations and financial institutions, including banks and investment funds, play a significant role in generating globalization processes?
Please, answer, comments. I invite you to the discussion.
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Dear Mohammed Faez Hasan,
Yes, large corporations, enterprises, companies, financial institutions operating internationally and international trade are the key determinants of the development of economic globalization.
Thank you very much,
Best regards,
Dariusz Prokopowicz
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In many countries, a strong correlation was found between the change in the economic and financial situation of enterprises and the credit policy of banks.
The research shows that there is a dependency, correlation between the change in the rate of economic growth of the country, economic and financial situation of economic entities, citizens 'incomes, enterprises' investment, investment risk, liquidity risk, debt, creditworthiness, creditworthiness of enterprises, etc. and the changing the credit policy of commercial banks that provide corporate loans and consumer loans to citizens.
However, in recent years, especially before the emergence of the global financial crisis in 2008, it was possible to diagnose a reverse correlation, i.e. that banks, mainly investment banks in low interest rates activated the entire banking sector, including primarily retail commercial banking to provide subsequent mortgage loans even for borrowers no longer possessing creditworthiness. Credit rating agencies issued the highest AAA recommendations for the loan packages sold, most of which were of low quality and low creditworthiness. Insurance companies insured transactions of very high credit risk. Acting on behalf of banks, the media published articles suggesting a good prospect of economic development, a continuation of good economic conditions, including the real estate market, a further rise in property prices. Many financial institutions, media institutions and investment firms participating in this procedure commonly used unethical business practices.
In the light of the above, the following questions arise:
How should banking procedures be improved to prevent future use of such type of unethical business practices?
How should the processes of improving bank credit risk management be carried out in commercial banks, so that more such situations will not happen again, in order to avoid this type of another global financial crisis?
How strong can be the impact of the banks' lending policy on the situation in the construction sector?
In view of the above, is this impact not too strong in periods of high economic growth, ..., in periods of too high economic growth, overinvested investment projects financed mainly by loans and overvalued securities on stock exchanges?
Please reply
Best wishes
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DISCUSSION_D.Prokopowicz_....The significance of banks' lending policy....economic situation...national economy and credit risk lev
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Many scientists suggest that a good way to analyze the level of innovation in action, generate innovation in financial institutions, eg in banks, is conducting surveys among managers and department directors, departments in these institutions.
How should such surveys be carried out? What method of surveys is the most effective? Do online questionnaire forms are an effective instrument for carrying out surveys?
What other research techniques can be used to investigate the level of innovation in operation, generate innovation in financial institutions?
Please reply
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Dear Mohammed Jaafar Ali Alatabe,
Thanks and invite you to joint discussions on the subject of innovation in financial institutions.
Regards,
Dariusz Prokopowicz
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Some banks conducting an analysis of the creditworthiness of an enterprise applying for a long-term investment or mortgage loan take into account the issues of climate change, if these changes may affect the business profitability of a specific lending business venture. For example, in the case of a hotel application for a long-term investment loan operating on the sea, the level of which can rise and flood the hotel area.
Another example is a hotel located in the mountains, where winter sports tourists come. Climate change predictions may indicate that 10 years of snow will no longer be the place where this hotel in the mountains provides its services. Therefore, the bank may not grant credit due to the forecasted secondary effects of progressive climate changes and, above all, the rising average temperature.
On the other hand, companies are developing which produce components for new power plants producing electricity as part of renewable energy sources, produce electric car equipment components, e.g. electric motors, batteries, etc. More and more innovative startups are being produced as part of cooperation with large enterprises and renewable energy plants Wind turbine type subassemblies, charging devices for electric cars, etc. Other companies manufacture packaging from recycled materials, recycled or from biodegradable materials.
Other companies are developing innovative solutions for automatic sorting of rubbish. If eco-friendly products become popular and the state creates good institutional, legal and financial conditions for the development of such projects, then the process of implementing sustainable green economy based on the green economy concept will be implemented more quickly and business probes will become more and more profitable. Financial institutions, including banks, will gradually take into consideration eco-friendly processes and business activities of clients in concluded financial transactions.
Do you agree with me on the above matter?
In the context of the above issues, I am asking you the following question:
Are there banks and / or companies that take into account forecasted climate changes in their business decisions?
Please reply
I invite you to the discussion
Thank you very much
Best wishes
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yes i agree
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What kind of scientific research dominate in the field of global financial crisis?
In my opinion, globalization is leading to the Integration of Business Cycles.
In this way, globalization may deepen economic crises, including the global financial and debt crisis. An example was the global financial crisis, which appeared in mid-September 2008.
At that time bankruptcy was announced by one of the largest investment banks in the world.
As a result of unreliable credit risk management procedures, billions of USD of financial losses have been generated.
It turned out that the unwritten rule no longer works, that "big can not fall". However, it is the emergence of ever larger international corporations and financial institutions that is one of the main determinants of the processes of economic globalization that have been progressing in recent years these processes continue.
(The continuation of these considerations can be found in the comments below).
Do you agree with my opinion?
Please reply
I conduct research in key aspects of this issue. The results of these tests are described in the following publications:
I invite you to discussion and cooperation.
Best wishes
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Interesting question
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My hypothesis is that from 1980s onwards a neoliberal consensus emerged, favouring a liberal trade agenda and prescribing a reduced role for state actors in governing and managing socio-economic development.
The financial crisis of 2009 and now the Covid-19 pandemic have brought the state back in, bailing out financial institutions with public funds and ordering the closure of large parts of national economies (whilst subsidising income losses and keeping businesses afloat) - seemingly inconceivable developments 15 years ago.
I would be grateful for both: a) literature recommendations and b) further examples of state legislative intervention ('activism' particularly with regards to sustainability regulation and laws).
Many thanks in advance!
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Governments play a key role in achieving the development goals and targets through, for instance, setting and implementing water quality policy frameworks and standards, and regulating the discharge of pollutants into the environment, and wastewater management, recycling and reuse.
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Many business companies in internet marketing collect and analyze comments, posts, entries, etc. from social media portals.
It is also done by some financial institutions, banks acquiring additional information about potential borrowers and insurance companies against possible conclusion of insurance contract. Commercially operating companies and financial institutions operate in this area on the border of the law on the protection of personal data.
Until this type of acquisition of information about potential customers is legally regulated, then commercially operating companies and financial institutions will conduct such activity. In addition, the issue of the security of this type of data about users of social media portals is of particular importance, as there have been effective cybercriminal attacks that resulted in the theft of personal data of users of social media portals.
I invite you to the discussion
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It happens that commercial banks, when verifying the creditworthiness of a potential borrower, view customer profiles on social networks, treating the information on these profiles as an additional source of customer data. Are such banking practices ethical in terms of business?
Thank you, Regards,
Dariusz Prokopowicz
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Taking into account the specific nature of financial activities, including the lending activities of banks and other financial institutions and the growing importance of online banking security and increasingly common IT systems and computerized advanced data processing in Internet information systems, connected to the internet database systems, data processing in the cloud, getting the wider use of the Internet of Things, etc., the following question arises:
What are the common features between managing financial risk and IT risk management?
Please reply
Best wishes
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In my opinion, one of the types of business entities in which the importance of integrated risk management has been increasing since the 1990s, including various categories of financial risk and IT system risk, are financial institutions, including commercial banks.
Best wishes,
Dariusz Prokopowicz
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Decentralize finance or Defi is growing fastly, some think it is the future of finance, Defi provides individuals with lots of financial services, i.e. loans, investments, options, assets management, etc. while critics believe that Defi is full of risk, it can't shock financial institutions.
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Replace, not in the foreseeable future. Co-evolve, for sure.
In our recent piece, we discuss the persisting reliance of DeFi on the traditional monetary market (see section 6) but also possibility of convergence of the two spaces.
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Dear researchers and colleagues,
I hope you are well and in good health.
I wanted to design an individual-level interview protocol for refugee entrepreneurs and eco-system agents (e.g.., government agencies, investors, financial institutions, local development agencies, etc.)
I appreciate it if you can help me with related literature.
Many thanks
Hasan Ghura
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I am currently doing my Master Thesis in FinTech and I am thinking of doing my project on the impact of AI and ML on the financial industry but as the impact of these technologies on the industry are vast, however, I need to limit the factors and the objective of the research, which bring the question what is more important today in this industry.
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The Most common use of ML and AI in financial service industry has been on prediction, for example in credit scoring, fraud detection, client churn and recommender system and stock price predictions. For masters level, you could think of these depending on the data and your interest, availability of data and your advisor's recommendation. Other use cases are also available, and I suggest you do a background literature check before consulting your advisor and finally settling on one.
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I will be so grateful if I hear answers from you.
I wonder how could these institutions affect bank stability and through What? Where is the link?
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Perhaps could be useful to read the following paper: What Is the Role of the IMF and the World Bank? (saylordotorg.github.io).
According to UN sources, the International Monetary Fund (IMF) and the World Bank are institutions in the United Nations system. They share the same goal of raising living standards in their member countries. Their approaches to this goal are complementary, with the IMF focusing on macroeconomic and financial stability issues and the World Bank concentrating on long-term economic development and poverty reduction.
The IMF promotes international monetary cooperation and provides policy advice and capacity development support to help countries build and maintain strong economies. The IMF also provides medium-term loans and helps countries design policy programs to solve balance of payments problems when sufficient financing cannot be obtained to meet net international payments. IMF loans are short and medium-term and funded mainly by the pool of quota contributions that its members provide. IMF staff are primarily economists with wide experience in macroeconomic and financial policies.
The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries reform certain sectors or implement specific projects—such as building schools and health centers, providing water and electricity, fighting disease, and protecting the environment. World Bank assistance is generally long term and is funded both by member country contributions and through bond issuance.
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Are the supra-national investment investments in investment banking an important factor in the ongoing process of economic globalization?
If the increase in the scale of transnational investment investments in investment banking is faster than the rate of economic growth of the countries expressed, for example, in the Gross Domestic Product, is this the way in which economic globalization can generate additional systemic credit risks?
If in the context of these processes the diversification in profitability and income between investment banking and other types of financial institutions and non-financial business entities increases, can this situation be one of the symptoms of increasing systemic risk and the probability of the next global financial crisis appearing in the next several years?
Please reply
Best wishes
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اعتقد ذلك... ولهذا أهمية وأثر كبير في هذا الخصوص
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During the last crises the main problems were related to the "demand side". Now the biggest challenge is related to the "supply side" as well. Moreover, among the biggest victims in the past were financial institutions (mainly banks) and business. Nowadays there is a greater possibility that the impact of the disruption on real economy will be much higher. Dou you agree that it is possible that the financial sector will survive the coming crisis in quite good condition whereas the businesses might be affected much more? Please remember that during the last crisis the QE policy exerted very positive impact on stock exchanges. So may be this time will be similar - due to such tools and the regulations (implemented for the last ten years) the financial sector is quite immune, whereas the real economy is not protected and will be much more affected?
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Financial markets have been known to be more volatile. It reacts to events after while the real economy will take time, after a lag. All the fiscal and monetary policies implemented by Govts have a more immediate impact on financial markets. If Govts stay united and coordinate their policies well, the impact on the real sector will not be as severe. The virus covid-19 is the world's No 1 enemy, it has diverted our attention from the US-China trade war. Trade is affected by self isolation but not by war.
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Managing the social and environmental impact of financial institutions
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Financial institutions have used and abused all resources for decades... If you follow Davos, you will see that in the past few years there is more and more talk about something called stakeholder's capitalism (as opposed to shareholder's capitalism). In the latter, corporations across the world have been mercilessly using and abusing all resources on earth (people, environment etc). FINALLY, I hope, World is figuring out that this can't continue and that corporations will have to put aside their unsatiable hunger for profits and start thinking about all stakeholders in the process.
Regards
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Non SQL DB will improve data management and optimize consults in Big Data analysis on financial institutions? Any help will be thanked
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Possibly non sql DBs like MongoDB provide object based programming/scripting facilities for data storage and retrieval. It is the task of the developer to write script for optimization with respect to storage and retrieval. Some inbuilt function are there to move forward with optimization tasks, I think.
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Marketplaces have information about 'real and genuine' transactions of buyers and seller - can this be used to raise financing from Banks and other financial institutions - both for consumer and corporate credit?
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Hi Angel.. the idea is to be able to use information on transactions of buyers and seller to raise buyer and seller finance from banks. Banks do not have access to real information on transactions except through documents like LCs, BGs, etc. other financial instruments to understand the transactional history hence credit quality of the borrower. If the banks can access marketplace information from the marketplace operators, this information can become a basis of extending short-term credit to companies or individuals that transact on this platform.Short term credit extended by banks to businesses specially micro-finance is primarily just based on unverifiable information but marketplaces provide a unbiased, credible and quality information on transactional history and hence capacity of borrowers.
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Hi, I want to measure earnings management in financial institutions (banks and insurance companies), I noticed that in most earnings management studies, financial institutions are excluded....
How earnings management is measured in financial institutions?
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You may want to check the following paper:
Do more reputable financial institutions reduce earnings management by IPO issuers?
G Lee, RW Masulis - Journal of Corporate Finance, 2011 - Elsevier
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Why is the impact of financial institutions inclusion /access and efficiency is positive on Investment but the impact of financial markets inclusion/ access and efficiency is negative on Investment in many developing countries?
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Let me expose what I think is the rationale of the assertion included in the question:
- International financial market access tends to be achieved by capital account liberalization (hint: it could be more complicated than that https://academic.oup.com/isq/article-abstract/58/2/308/1789417 ; https://www.degruyter.com/view/j/jgd.2014.5.issue-1/jgd-2013-0028/jgd-2013-0028.xml )
- Capital account liberalization is related with capital volatility
- Volatility means short-term profitability (financial assets, imports) is preferred against long-term profitability (production, factories)
- Short-term profitability might rise FDI flows ( http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.477.4511&rep=rep1&type=pdf ), but FDI is not the same as fixed capital formation ( https://dolarizacion.ec/2018/02/27/inversion-extranjera-vs-inversion-extranjera-directa/ ) which tends to fall because of long-term profitability.
- P.S. FDI doesn't necessarily promote growth ( http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.494.5205&rep=rep1&type=pdf ) , but, without fixed capital formation (actual investment), economies don't grow
Of course, trying to access to international markets, there could be tools and policies that reduce volatility and promote fixed capital formation. I think Kevin Gallagher "Regulating capital" is a superb intro to it.
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I am conducting a dessertation on credit scoring assesment for default risk with particular insterest in using loan data from Nigeria
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How about contacting large banks in Nigeria directly? Generally, banks are happy to support research with almost no cost, if they benefit from it.
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There are 20 statements about the attitude of the financial institutions towards women entrepreneurs, with Likert and scale.
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Cluster analysis is a method of classifying objects into homogeneous groups. Such as- respondents with same personality trait, may form a cluster.
In your study of attitude of financial institutions towards women entreprenuers, you can do cluster analysis, may be to classify your responders (the financial institutes) on the basis of related items, developed towards measuring the women entrepreneurs supportiveness.
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I am working on a research paper under the title of "Impact of financial development on non-performing loans" in context of financial institutions. Access to finance, Depth of financial institutions and Efficiency of the financial institutions are using for measuring the financial development.
It would be pleasure to hear you people regarding theories which support my research topic.
Regards,
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The McKinnon-Shaw school of thought proposes that government restrictions on the operation of the financial system, such as directed credit programs, reserve and liquidity requirements (dubbed “financial repression”), may inversely affect the quality and quantity of investment and thus hinder financial development. Kim and Santomero (1988) and Gennotte and Pyle (1991) show that capital
requirements increase a bank’s portfolio risk and hence may result in inefficient allocation of resources. This is arguably the case when the funds related to these repressionist programs are not allocated efficiently to generate productive returns.
Information Asymmetry
Endogenous Growth Theories
Financial Innovation
Financial regulation
Financial fragility
Good luck
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What do you think about the role of international financial institutions in the process of reducing development disparities between countries and in the issue of supporting sustainable development?
What is your opinion on the assessment of the activities of international financial institutions in reducing development differences between countries, reducing income disparities, supporting poorer and developing countries?
Do international financial institutions adequately support investment projects developed according to the concept of sustainable pro-ecological development?
Please reply
Best wishes
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Funding role is key concerning International Non Governmental Organization (INGOs) on Sustainable Development.
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Conocen cuales son las principales fuentes de financiación de proyectos de investigación en Colombia, actores, condiciones, enlaces.
Gracias por la recomendación
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Hi Emmanuel V Murray , thank you for your interesting, I am looking for Funding Resources for investigation in Colombia or in your case a good advice for looking for support in private sector.
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The issue of corporate governance is very important and directly affects the efficiency of the entity's operation, the relationships between the recruiters employed at various levels of the organization and indirectly also on the relations between business entities and contractors and clients. Corporate governance is therefore particularly important in terms of the long-term development of an economic entity, also in terms of its successes in the competitive game and the holding of specific positions and shares in the markets of the sold product or service offer.
In my opinion, most parameters in the area of ​​corporate governance research in enterprises, companies, corporations and financial institutions are the same but not all. The same are those that relate to the issues of analogous models used, concepts of managing the entire organization, personnel management, offer, marketing, innovation, relations with contractors, shareholders, clients, etc. In contrast, differences arise in terms of specific differences regarding accounting, specificity business activity, risk analysis, prudential procedures used, IT technologies that support the operation of individual departments and departments, the specificity of the work positions of the staff employed, etc.
I invite you to the discussion
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The management board is responsible for the implementation and development of the controlling system, while the supervisory board has to review the effectiveness.
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If someone in your country thinks about innovative new types of products or services, technological innovation, and innovation in the field of Pre-idea 4.0, is there no problem with finding external financing, i.e. obtaining financial capital for the implementation of this developed innovation?
What types of external financing sources dominate your country in terms of financing the development of innovative startups?
Please, answer, comments. I invite you to the discussion.
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Corruption and favouritism make it very difficult for startups and SMEs to access loans in my country. In Nigeria, you have to have a collateral or enough money in your account to get funds from the banks and government investment banks.
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Has the upgraded computerized Business Intelligence analytical platforms been implemented in the credit risk management systems of financial institutions?
Please reply.
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I follow answers
best regards
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The sector of micro enterprises and small and medium-sized enterprises, i.e. SMEs in contemporary economies of developed countries, usually has a particularly important role for the effective development of the national economy.
Usually about 90 percent. or more economic goods, income etc. is created in this sector. The share of this sector in the Gross National Product of the domestic economy is similar.
But this situation is not identical in every country. In addition, the growing importance of cross-border trade and capital transfer can change the importance of this sector in modern economies.
This is mainly due to the growing importance of supranational large corporations and financial institutions, including banks and investment funds.
These large industrial, service, commercial and financial corporations are a particularly important factor in contemporary globalization processes.
In view of the above, I would like to ask you: Does the share of the SME sector in your country increase or decrease in the domestic economy as a result of globalization processes?
Please, answer, comments.
I invite you to the discussion.
Dear Friends and Colleagues of RG
The issues of globalization of financial and banking systems are described in the publications:
I invite you to discussion and cooperation.
Best wishes
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our economy is almost dependent on foreign aid, high import, low export etc
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Do we need to have "only" one set of Accounting Standards for Islamic Financial Institutions? Considering a number of different schools of thought in different countries.
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If the principles set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) are compatible and enough for measuring the islamic finance and accounting instruments. Then it is enough. If anybody find out any weakness of the principles, then he can give suggestions in the light of Holy Quran and authentic Hadith.
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Antivirus programs signal this, but are the new attacks appearing, or maybe the companies that produce antivirus software use this kind of alerts mainly to stimulate consumers to buy these applications?
Is the information about the growing threat from the activities of cybercriminals also partly a result of marketing activities of antivirus software vendors?
Cybercriminal attacks involving various types of viruses occur on a daily basis in various places around the globe.
However, large-scale attacks on the global scale and publicized in the media are probably much rarer.
An example was the type of cybercriminals, which was carried out on a large scale in mid-2017, which was mainly targeted at large public and financial institutions and corporations operating in Ukraine, but quickly spread over the world through capital and business links between companies.
Then ransomware viruses known only often in the environments of security specialists, among computer scientists analyzing cybercriminal attacks, has been publicized in the media in many countries and has become a global and public problem.
In this situation, sales revenues and profits of companies producing antivirus software are growing significantly.
Recently, some of these antivirus programs inform that the threat of cybercriminal attacks involving ransomware is growing.
Is it a real increase in the risk of cybercrime or a new form of marketing for companies that produce antivirus software?
Or both?
Please, answer, comments. I invite you to the discussion.
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I agree with you, but it's not all about sales.
I think the most blatant was the quest for fame/notoriety by the irresponsible so-called researchers, who published the obscure (and, largely unexploitable) 'vulnerability in the instruction queue of Intel CPU's. This caused widescale panic, a few remedies which were worse than the disease, all for a bug which no hacker would ever dream of trying to exploit. Why? Because it's not cost-effective. Cybercrime is a business and, like any other, it needs to maximise ROI, so patiently hacking one PC in the hope that a password will materialise for a bank account which actually contains money is something only a researcher would do.
As a cybersecurity company, (designsim.com.au) we take a battering 24/7 from about 72 countries, mainly from botnets, so we're fairly up to date on the latest trends.
The main attack vector over the last three or four months is a DDoS attempt which appears to come from compromised IoT devices, probably NVR/DVR or routers, originating mainly in South America and looking like this (with the cutely-imbecilic and fake Referer)
181.214.196.62 - - [30/Oct/2018:00:37:37 +1100] "POST /botnet_hack.txt/trackback/ HTTP/1.0" 403 16896 "http://staging.Esal.us/wiki/index.php?title=The_Famous_Koh-i-nor_Diamond" "PHP/5.3.01"
To date we've had over 10,000 such hack attempts.
Second, is a revival of an old Drupal vulnerability, consisting of a pair of queries like:
107.161.94.87 - - [29/Oct/2018:16:03:17 +1100] "GET /?q=node/add HTTP/1.1" 200 18466
107.161.94.87 - - [29/Oct/2018:16:03:18 +1100] "GET /?q=user/register HTTP/1.1" 200 18466
the hope being for an escalation of privileges.
Lastly, one that never goes away, is the eternal exploitation of the thousands of bugs in WordPress/PHP:
94.102.49.122 - - [30/Oct/2018:06:07:50 +1100] "GET /phpMyAdmin/scripts/setup.php HTTP/1.1" 404 226 "-" "ZmEu"
159.69.39.191 - - [30/Oct/2018:06:14:04 +1100] "GET /wp-includes/wlwmanifest.xml HTTP/1.1" 404 225
Perhaps it would be a good time to get the IDS to trigger on these.
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I want to find if there is any statistically significant increase or decrease in a variable over the years. For example if the variable is Financial Revenue of any financial institution. I want to do statistical analysis of change in its value over a period of say three years or five years. What statistical test will be appropriate?
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I forgot a point, dear friend. There are a lot of software in this area and it is likely to be offered to you. But do not pay attention to them. Just listen to a good software. Its name is Minitab.
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In Hong and Kacperczyk (2009) Table 3 Panel A, results suggest institutions favor stocks with high market betas and dislike stocks with high daily return volatility in the US. However, to my understanding market beta and return volatility are highly correlated firm characteristics. When I run similar regressions using similar methods, but using other data, I also obtain an institutional preference for high betas, but low return volatility. Favoring high betas seems to indicate risk-seeking behavior, while disliking high volatility seems more like risk-averse behavior.
Can someone explain these opposing attitudes of institutions?
Thanks in advance.
Kind regards,
Alyssa Jourdan
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First of all, you need to remember that thsi is a multivariate regresion. Therefore, even though the coefficient of the volatility is negative, it does not mean that institutions choose low volatile stock. It is possible that if you run univariate regression, volatility would have positive sign. In other words, you need to interpret this result in such a way that after controling for beta and other variables, institutions prefer low-volatile stocks. Possible explanation for this is the following:
Other things being equal, low-volatile stocks are prefered ... this sounds intuitive to me. High beta is probably different story: it could be that institutions prefer to outperform peers when market goes up, and care less about their performance when market goes down. In this case, high-beta stocks would be a good choice. However, this is just one possibility.
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My current research is about financial and institutional analysis of vegetable cooperatives in Dhading. I have used a scoring system to calculate the cooperative performance index for institutional analysis, reviewed their financial statement and have the production and sale data of the vegetables marketed through cooperatives.
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You could also benefit from employing difference in difference estimation in order to distinguish between the impact of agriculture cooperatives to its members and those who are non members. In this case, you will have to have a treatment group which is the latter (members) and the control group which is the nonmembers since they are not affected by this.By having these groups, you do not face such challenges as selection bias (atleast you are less likely).
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What approach do participants in the copper industry take to make long term copper price forecast for project investment purposes? Is relying on the forecasts of firms that perform fundamental analysis a reliable source? Are the forecasts of financial institutions reasonable and unbiased? Is some approach that assumes a growth rate in line with world growth (or population or urbanization) appropriate? Is the consensus forecast from mining analysts typically used in M&A deals a fair estimate?
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I will suggest you to used "Dow Theory" . It is very effective in predicting price movements for long term.
Second option can be Elliot Wave Theory.
Feel free to contact me if you need any help or collaboration with your research.
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Financial Institution operates often in remote ares that may be unsafe and require reliable security infrastructures.
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Some of the recent advances with respect to reliable security infrastructures include:
1. Embedded Cloud Security.
2. IoT Analytics
2. MPLS VPN +
3. SafeNet Ha​rdware Security Modules (HSMs)
4. IoT M2M Security Lifecycle Management
5. Cloud Ha​rdware Security Modules (CHSMs)
6. Narrow-Band IoT (NB-IoT)
7. Blockchain Cryptocurrency
8. Edge & Fog Analytics
9. And More................
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This is the topic I am going to use in my dissertation and I need some help finding resources on this topic. Can anyone help with references for this topic
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The impact of automation is not going to happen in future - it is right here now! In this regard, how can we educate our kids/students/learners meaningfully without letting their time go to waste?
"It's the crest of a digital wave flooding through banks, financial institutions, accounting and law firms, and if you're doing a white-collar job that deals with information, you're in for a bumpy ride." "In his view, automation and software that analyses information and makes decisions will transform the business landscape — doing jobs that, until recently, required well-paid "knowledge workers"."
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Remembering facts will be less important. Ability to use computers at expert level will become much more even much more important than it is now.
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Commonwealth Bank of Australia (CBA- the largest bank in Australia) saga continues with its admission of money laundering allegations along with some additional/amended allegation being introduced by the regulator.  With the possible penalty is summing up to over 900 billion dollars, where would this go/end?
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interesting article
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Lot of time, money and efforts are invested by various government bodies and private associations to conceive, float and confer the entrepreneurship awards. In Indian context, the entrepreneurship ecosystem, consists of following:
  1. Existing entrepreneurs
  2. Potential entrepreneurs
  3. Suppliers and customers of entrepreneurial ventures
  4. Various industry associations and bodies nurturing entrepreneurship
  5. Government and financial institutions as resource providers.
  6. Entrepreneurship training, education and development institutions
  7. Entrepreneurship Cells, Incubation Cells at various professional institutions
  8. Government as policy framing authority
It is worthwhile to understand if these awards work beyond the level of sensitization and contribute to the part of whole of entrepreneurial ecosystem in sustained manner.
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i think the aim of the award are also to attract new entrepreneurs and to change the perception towards entrepreneurship.
thus, a good approach may be to examine the success of these awards not on existing entrepreneurs, but on potential entrepreneurs - nascent or pre-nascent entrepreneurs (ordinary citizens). are ordinary people influenced when they see/ hear about the awards?
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I am doing some research in profiling such farmers through interaction with their families and using some other qualitative research techniques in Punjab. Through this I aspire to build a prediction model for financial institutions or other credit agencies so that they could identify the high risk profiles and reduce delinquency and also discourage unproductive borrowings. If any similar work has been undertaken or some model is being used by credit agencies then I would be glad to know about them. 
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Refer the works of Dr. R S Deshpande of the Institute for Social and Economic Change (ISEC). He extensively worked on this issue.
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To measure cost and profit efficiency of financial institutions using DEA, what free software can be used? 
If you have such information please share it with me.
Thank you in advance
Alma 
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DEAFrontierTM
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I am looking for articles related to sources and uses of charity / charitable fund managed by Islamic banking / financial institutions. 
Note: It is not about Zakat.
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This is another book, hope it's useful.
This is another book, hope it's useful.
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i.To what extent does physical proximity to financial institutions affect financial inclusion among the targeted members/low-income population?
 ii.What are the available financial services and innovations and how effective and sustainable are they in enhancing financial inclusion among the demographic differences of members/ low-income population in the selected SACCOs?
iii.What is the level of financial literacy and capability existing among the people on the various available financial services and products and how does financial literacy and capability impacts on financial inclusion for inclusive growth?
iv.How consumer protection does influences financial inclusion for inclusive growth through SACCOs in Uganda?
 v.What enabling environment exists in Uganda and changes that will enable SACCOs to take an active part in the financial inclusion for inclusive growth and emerge as sustainable, transparent and accountable member-based financial organizations?
vi.How does, financial inclusion leads to inclusive growth (members’aggregate welfare improvement) in Uganda?
vii.To what extent are the expected outcomes of financial inclusion for inclusive growth through SACCOs available to members/low-income population?
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 Please thank you for the response to my question
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Why don't we legalize the moneylenders.. as financial institutions. This will also solve the problem of financial inclusion to a large extent. 
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Abhishek– thank you for such an interesting question.  First, we need to define "moneylender." For all practical purposes, many people can be considered moneylenders – parents lending money to their children, relatives or friends lending money to others for various reasons.  In such cases, it seems impractical to create rules and regulations.  That said, there are consequences in these cases – for instance, an uncle loaning a family member some money, and the family member reneging on repayment.  For that, there is civil consequences that may be invoked through the court system, depending on how the court system in any particular jurisdiction deals with the issue of contract.  However, in different circumstances, when there are large amounts of money being transferred, government does have the duty to regulate as a question of conformity, and to prevent criminal activity such as usury.  Depending on the form of government, there is always a dividing line between whether to regulate or not – Frank Perez
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On one hand, Government wants to replace moneylenders through establishment of formal financial institutions and still they exist? why?
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Also what happened in the emerging markets is that no one understood the channeling of rural people best, than the moneylenders. 
If an emergency occurs, moneylenders would be the first person to be thought of by the rural people and inhabitants, No managers of the bank would like to extend banking facilities in the night. 
Also, moneylenders  though charged high interest, this won't matter much to the rural population as they are also the employers to a large number of rural working. They own stuffs, land and so on.  
Banks have not gone out of their way to please rural people. Documentation, apart from cxollateral also, sometimes the loan amount would be so low that carrying out all the procedures by banks prove to more expensive than the loan amount. 
Micro credit was by and large not even though of as the best mechanism until Grameen bank of Bangladesh started by Prof. Mohammad Yunus became a household name. 
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I have so far written approximately half a dozen published articles about inter-organizational IT governance. The paper of Steven De Haes and Wim Van Grembergen was published in the ISM Journal in 2009 (Vol 26). The article investigated the use of divergent IT governance practices (33) and also outlined 10 most effective practices as identified by IT experts. Seven of those 10 practices were widely used by 13 financial institutions.
In the opinion of Steven and Wim, the 7 practices defined the baseline of ITG practices (in the financial sector in their home country) for intra-organizational contexts. Have you written and/or articles on what such practices could be in inter-organizational contexts? Or, would you be willing to consider a joint research and papers addressing this issue, especially if you have access to relevant data?       
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Dear Paulo, thank you for your input.
To me it appears that your suggestion is especially relevant to another topic I investigate, governance of data and data federation. However, research on inter-organizational IT governance addresses such questions as why do organizations cooperate (what are the benefits of inter-organizational ITG ), what social mechanisms promote or block such cooperation, how is inter-organizartional ITG implemented (practices used) and what issues does inter-organizational ITG address (e.g. how are revenues shared, cost reductions divided or how are members accepted into an inter-organizational ecosystem).
Best Regards, Tomi
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Public banks towards lending credit or loan to poor
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Financial freedom for poor is still a long way to go in India.  Financial institutions and bank has eloberate policies for funding to poor but in practice it not effective as the disbursment depends upon various subjective factors like net worth , security primary and secorndary. In pracitce financial instittution are reletent to fund poor lest their money turns into NPA. The latest results of bank is the example of such loose credit policy and funding poor and fiancial solvency are at loggerhead.  
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Theoretically one can argue that there can not be any financial institution like banks in Islamic economics paradigm as the real sense of existing banking practice contradict with the fundamental Islamic finance principles. The debate on whether Islamic banks ever be Islamic has been going on since the inception of the first Islamic bank in Egypt, Mit Ghamr. So, what's the current position among academics and practitioners after 5 decades of tremendous development in Islamic Finance. 
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Islamic bank in current form cannot be 100% pure Islamic, since it still use fiat money and apply fractional reserve banking system. Contracts can be purufied, but convert to intrinsic money needs International cooperation, while convert to 100% banking system needs to have new 'Islamic' Basel different from Basel III.
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Hello,
I am currently writing a master thesis on the 4th Anti-Money Laundering Directive which increases compliance costs to banks and other financial institutions. I would like to discuss the proper way to analyze this issue from the Public Choice theory perspective. I would be grateful if you could share any useful insights or literature!
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 Thank you for both answers! Currently, I am analyzing the article: The Risk Based Approach in the New European Anti-Money Laundering Legislation: A Law and Economics View which I believe is a useful source for analyzing agency problems within the current regulation. But as you are probably aware of, the 4th AML Directive requires Member States to establish a national register of ultimate beneficial owners. I am also interested how it shifts the regulatory burden from the private sector to the public sector and whether it is a positive/efficient change. 
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i am currently doing a research on mobile banking services in the Fiji Islands...and i need your views on this!!
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Irrespective of the geographical, national and political issues this important service brings in, one has to explore how the "access layer" is receiving the services. This exploration requires adherence to SERVEQUAL metrics as well as SoA metrics related to to core, network, distribution and access layers of the  system.
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Why transparency and risk management are important? What is the role of transparency? What are the effectiveness of risk management?
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The lack of transparency starts at the mortgage underwriting standards.  Lax underwriting standards were exacerbated by the safe feeling from consistently raising home values.  No-documentation loans & stated income loans (a.k.a liar loans) permitted an environment of high risk.  Dangerously high true debt-to-income (DTI) ratios combined with low actual disposable incomes, and limited skin-in-the-game (equity) for the borrowers, encouraged unqualified borrowers to default in the absence of an easy home-flipping environment.
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Nepal is planning for reconstruction processes which overcome the bad structural health that introduce damages during Gorkha earthquake (Mw>7.8 ) that happened  in 12 of April 2015, killing many lives. The mushrooming cooperatives and micro finance companies exist in almost all district and village development committee. However, the financial resource mobilization as a government grant increase dependency as well as deficit for the individual house construction. Undoubtedly, people stop working. Spend time looking for the humanitarian aids, leaving agriculture field barren and consuming toxic drinks from installment support package for housing. In this connection the self dependency should structured within community by the community based financial institutions. The financial mobilization by micro- finance  institutions definitely decrease parasite living culture and encourage integrated finance which gives financial sustainability by community groups. Hence, i ask to the experts how  Nepalese communities will benefit from community finance for reconstruction in Nepal in the current situation.
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Ranjan, I was not familiar with the situation in Nepal. The publicly available articles are of this type: http://money.cnn.com/2015/04/27/news/nepal-earthquake-donations/
One can infer that there was substantial foreign aid to the victims and families, probably up to 100 million USD. I do not know if this amount grew further and how much was already spent for food and other basic necessities. I also do not know how much money the government plans to spend for reconstruction and to what extent it will cover the needs of private families that suffered disaster.
It  is difficult to estimate for me the exact cost of reconstruction. From this table 
I can infer that the cost to construct 1 sq.m of housing is about $345. If average house is 50 sq.m, then its cost should be $17,000, and one can construct about 6000 flats using $ 100 million.
US Geological Survey estimates the cost of damage to be between 1 and 10 billion USD; see http://money.cnn.com/2015/04/27/news/economy/nepal-earthquake-everest-tourism/index.html
If would be better if you inform us about report on the value of damage, received funds and spending. I suspect that maybe not all money were used efficiently.
As Brett tells us, these micro-finance companies are just giving credits, probably at high interest, and this is not the best (and major) solution. They are useful only to complement the funds that are still not available for reconstruction.
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I need a program (software) that can estimate the efficiency of financial institution by employing stochastic frontier approach (SFA) (parametric method). The software program can be free or otherwise. thanks for help. 
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Hello Mr. Sahin,
For measuring efficiency of financial institutions, I can recommend you to use the Data Envelopment Analysis to find out the most efficient and the inefficient institutions.
Thank you
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Which corporate governance mechanism would you use the most for monitoring the performance of a financial institution?
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Anglo American model has one tier boad or unitary board where board is the highest authority. In case of German-Japanese model have two tier board. They have an additional baod called supervisory board. The supervisory board monitor the board activities. Besides, no of independent directors, qualification and experiences, attitudes of directors, female directors, motivation of management and board of directors, and the like are also be considered to ensure good governance. 
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Am interested in models that have worked in different contexts whether they are supported by government, donors/NGOs, Banks and other financial institutions, Venture capitalists, philanthropists etc
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There are different models from state financing for fundamental research to business angels for start-ups, and Venture Capital for established start-ups. There is a vast literature on the subject. You could start by OECD, World Bank and European Commission. The EBRD Transition Report for 2014, which you can find in its website deals in Chapter 4 with Finance for Innovation and you can start here with the references indicated.
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Is it fair to assume we have now crossed the rubicon and things are more tune with steady progress now and for another decade or more to come? While AIG and GM seem to need more help in the USA, banks have been building new markets. European banks of course seem to be hit because of the lack of viable collateral and fast closing avenues of fresh equity. Also maybe the use of Contingent Capital is not fair and Europe is actually headed for more trouble within banking?
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Your assumption that banks have resiliently adapted might be a bit optimistic. There is still a lot of work to do and not all banks have managed to consistently pass their stress tests. Check out the FRB CCAR page for details. The issue with advancing new credit in any market is the balance between threshold return levels and risk of default -- or other loss factor. Clear property rights, shorter tenor credit advances, and good quality collateral that is not positively correlated to the direction of risk are essential.
Also don't forget that with the internet, reputation is key to growing new market capaclty. So look to issues of cyber threats, intellectual and other property rights and corruption as reasons to not enter markets.
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Our team is quantifying the amount of global fiscal support that the financial sector receives. The estimate will examine the full range of direct and indirect fiscal support for private financial services sector, including fiscal incentives for savings and pensions, bank deposit insurance, implied support for systemically important financial institutions, fiscal incentives for green investment, and tax structures that provide incentives for various assets and trading activities.
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Thanks Giacomo, this is very useful, good information about interventions in reaction to the financial crisis. Our scope is wider than the 2008 - 12 period but this is useful nonetheless.
Veli, your response is appreciated too. You make an interesting point about considering illicit financial flows from low-income countries to wealthy countries as subsidies. This does raise a difficulty in quantifying since they are inherently difficult to detect. We'll have to dig deeper into this.  
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I wonder whether there exists (even a young) theory of financial regulation in the sense of "how to regulate a financial institution/system in an optimal manner"? I mean, there is experience about several situations which came across in the past, like bank runs, liquidity shortages, insufficient quality of regulatory capital etc. resulting in a crisis and, thus, representing a deviation from the optimal functioning of the financial system. This is then addressed by a regulatory reform which is designed to avoid exactly the experienced situation again in the future, i.e. it is specific to the current problem at hand. Is there something more general? The current approach focuses on ex-post fixing crucial issues, but does there exist a formal normative model or theory about regulating systems like the financial system?
So far, I didn't found something about that but maybe others have?
If not yet, maybe there exists some theory about other kinds of systems which one could apply in a modified version like Cybernetics for mechanical systems or the like?
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At the risk of being too pessimistic, there is none. Or rather there are theories that seem to work for a time. Every theory outlives its use and becomes part of reality- such that in the end the causal direction may be from theory to reality. Or even worse from theory to regulation and not from empirics to regulation (the more reasonable approach). The scourge of reflexivity prevails in the financial markets. Proponents of these kinds of thinking and links to their related work: