Philippines' Duterte could reshape courts and banks

2017 ◽  
Keyword(s):  
Political Economy ◽  
Central Bank ◽  
Interest Rates ◽  
Supreme Court ◽  
Legal System ◽  
The Philippines ◽  
Content Type ◽  
The Supreme Court ◽  
Legal Challenges ◽  
Central Bank Governor

Subject Bank and judiciary appointments in the Philippines. Significance This year, President Rodrigo Duterte has the chance to shape the future of the Philippine economy and legal system through his power of appointments, with implications stretching well beyond the conclusion of his single presidential term in 2022. Who the president selects as the central bank's next governor will affect perceptions of the Philippines' political economy and market risk. Duterte's appointments to the Supreme Court will influence the outlook for the Philippines' judiciary and legal system. Impacts A politically motivated central bank governor appointment would put pressure on the Philippines peso and interest rates. The Supreme Court is likely to become more pro-Duterte, even though his two latest appointees will have short tenures. This is likely to diminish the success of legal challenges against the drug crackdown, insulating Duterte's team politically.

Libya talks will go on regardless of Congress decision

2015 ◽  
Keyword(s):  
Central Bank ◽  
Supreme Court ◽  
House Of Representatives ◽  
The Other ◽  
Court Ruling ◽  
Supreme Court Ruling ◽  
Content Type ◽  
The Supreme Court ◽  
Direct Support ◽  
First Time

Significance The first condition is to move the location of the talks from Geneva to Ghat. The second is that the other attendees recognise the Supreme Court ruling of November 2014, which held that the process that led to the election in June 2014 of the Tobruk-based parliament, the House of Representatives (HoR), was unconstitutional. Initial talks took place on January 14-16 and dialogue is due to restart this week. Both main factions, the Dignity-backed HoR and the Dawn-supported GNC, have called for ceasefires, but not all factions within those blocs have accepted them. Still, this is the first time ceasefires have been called since fighting between the two main competing blocs escalated following the Supreme Court ruling. Impacts Despite the talks, regional states will still be inclined to provide direct support for a proxy that serves their geopolitical interests. Fighting for control of oil installations will severely restrict the flow of revenues. This could prompt the factions to apply more pressure on the National Oil Corporation and the Central Bank. If dialogue fails it will intensify the humanitarian consequences of the conflict.

scholarly journals L'actualisation des dommages-intérêts en matière de préjudice corporel

2005 ◽  
Vol 28 (1) ◽  
pp. 39-88
Author(s):  
Daniel Gardner
Keyword(s):  
Interest Rates ◽  
Supreme Court ◽  
Legal System ◽  
Personal Injury ◽  
Discount Rates ◽  
Lump Sum ◽  
Inflation Rates ◽  
Productivity Factor ◽  
The Supreme Court

Since 1978 the evaluation of pecuniary loss resulting from personal injury genuinely derives from the restitutio in integrum principle. In this context the operation of discounting the portion of the lump sum indemnity representing the victim's future losses takes on particular importance. The method used by the Supreme Court has been considerably improved: the refusal to consider interest rates and inflation rates separately, the recognition of a productivity factor for losses representing future salaries, etc. Four provinces have decided to legislate on one or more discount rates to make up for the absence or inadequacy of evidence at this level. Despite legislative and courtroom activity, much remains to be done in improving both the present legal system and its replacement by a regime better adapted to the specific problems inherent in evaluating pecuniary losses.

Turkey's new central bank governor may loosen policy

2016 ◽  
Keyword(s):  
Central Bank ◽  
Financial Markets ◽  
Interest Rates ◽  
Commercial Banks ◽  
Prime Minister ◽  
Economic Conditions ◽  
Content Type ◽  
Lending Rate ◽  
Inflation Targets ◽  
Central Bank Governor

Significance Cetinkaya is an apparent compromise between President Recep Tayyip Erdogan and Prime Minister Ahmet Davutoglu. The MPC cut the overnight lending rate by 50 basis points to 10%, leaving other rates unchanged. Financial markets welcomed the decision in the hope that Cetinkaya would avoid more radical rate cuts that could make the lira plummet and further endanger inflation targets. Impacts Policy rate cuts will have little impact on growth given other risks and factors, particularly external financial and economic conditions. No serious effort will be made to reduce inflation to 5%, until and unless this becomes a government priority. Given better dialogue between government and TCMB, blame for high interest rates may fall increasingly on commercial banks.

Australian central bank holds rate as growth slips

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Central Bank ◽  
Interest Rates ◽  
Labour Markets ◽  
Content Type ◽  
Commercial Lenders ◽  
The Government ◽  
Roll Out ◽  
Growth Forecasts

Significance The RBA has cut its growth forecasts amid rising job losses, weakening demand and increasing signs that the latest COVID-19 lockdowns will continue to slow the economy until the pace of the vaccine roll-out programme can be increased. Impacts Although the RBA is independent, the government will hope it keeps rates low ahead of the elections due next year. Commercial lenders could raise interest rates independently of the RBA if inflation remains high. Wage pressures will re-emerge as labour markets tighten but may be mitigated by the extent of underemployment. Economic growth will be uneven across the country in coming months as pandemic-related restrictions vary by location.

scholarly journals Informal networks and judicial decisions: Insights from the Supreme Court of the Philippines, 1986–2015

2018 ◽  
Vol 39 (5) ◽  
pp. 616-633 ◽  
Author(s):  
Björn Dressel ◽  
Tomoo Inoue
Keyword(s):  
Supreme Court ◽  
Political Influence ◽  
The Philippines ◽  
Informal Networks ◽  
Significant Evidence ◽  
Presidential Appointments ◽  
High Profile ◽  
Judicial Decisions ◽  
The Supreme Court

To what extent do informal networks shape the decisions of the Supreme Court of the Philippines? Though often raised in the Philippines, this question has never been studied empirically. To answer it, we constructed a set of social network variables to assess how informal ties, based on university connections and work affiliations, may have influenced the court’s decisions between 1986 and 2015 in 47 politically high-profile cases. Providing statistically significant evidence for the effects of political influence (presidential appointments) and hierarchical pressure (the vote of the Chief Justice) on related networks, our analysis suggests a continuing tension on the Supreme Court bench between professionalism and informality. Because the findings advance both theoretical and empirical understanding of larger issues at the intersection of courts and society throughout the region, we recommend more attention to the role of judicial networks, external to the courts as well as within them.

scholarly journals U.S. Supreme Court Upholds Presidential Proclamation Restricting Entry of Individuals from Covered Countries

2018 ◽  
Vol 112 (4) ◽  
pp. 741-745 ◽  
Keyword(s):  
Supreme Court ◽  
The United States ◽  
Establishment Clause ◽  
Lower Court ◽  
Security Interest ◽  
Foreign Countries ◽  
The Supreme Court ◽  
Legal Challenges ◽  
Travel Restrictions ◽  
Preliminary Injunction

On June 26, 2018, the U.S. Supreme Court upheld President Trump's most recent iteration of restrictions on entry to the United States by nationals from certain foreign countries. Following several rewrites of this travel ban, ensuing legal challenges, and lower court injunctions, the Court, in a five-to-four decision authored by Chief Justice Roberts, reversed the latest ruling of a lower court that had granted a partial preliminary injunction against the ban. Although acknowledging that there was considerable evidence tying the travel ban to bias against Muslims, the Supreme Court found that the plaintiffs were nonetheless unlikely to succeed either in their statutory claim that Trump lacked the authority to impose this ban or in their constitutional claim that the ban violated the Establishment Clause of the First Amendment. The Court accordingly reversed the lower court's injunction and remanded the case for further proceedings. The ruling, based on the Trump administration's asserted national security interest, leaves in place travel restrictions imposed on nationals of seven countries—Iran, Libya, North Korea, Somalia, Syria, Venezuela, and Yemen—only two of which are not Muslim-majority countries.

Central bank transparency, inflation targeting and monetary policy: a panel data approach

2018 ◽  
Vol 45 (6) ◽  
pp. 1159-1174 ◽  
Author(s):  
Gabriel Caldas Montes ◽  
Cristiane Gea
Keyword(s):  
Developing Countries ◽  
Monetary Policy ◽  
Panel Data ◽  
Interest Rate ◽  
Central Bank ◽  
Interest Rates ◽  
Inflation Targeting ◽  
Content Type ◽  
Central Bank Transparency ◽  
Policy Interest

Purpose The evidence concerning the effects of the inflation targeting (IT) regime as well as greater central bank transparency on monetary policy interest rates is not conclusive, and the following questions remain open. What is the effect of adopting IT on both the level and volatility of monetary policy interest rate? Does central bank transparency affect the level of the monetary policy interest rate and its volatility? Are these effects greater in developing countries? The purpose of this paper is to contribute to the literature by answering these questions. Hence, the paper analyzes the effects of IT and central bank transparency on monetary policy. Design/methodology/approach The analysis uses a sample of 48 countries (31 developing) comprising the period between 1998 and 2014. Based on panel data methodology, estimates are made for the full sample, and then for the sample of developing countries. Findings Countries that adopt the IT regime tend to have lower levels of monetary policy interest rates, as well as lower interest rate volatility. The effect of adopting IT on both the level and volatility of the basic interest rate is smaller in developing countries. Besides, countries with more transparent central banks have lower levels of monetary policy interest rates, as well as lower interest rate volatility. In turn, the effect of central bank transparency on both the level and volatility of the basic interest rate is greater in developing countries. Practical implications The study brings important practical implications regarding the influence of both the IT regime and central bank transparency on monetary policy. Originality/value Studies have sought to analyze whether IT and central bank transparency are effective to control inflation. However, few studies analyze the influence of IT and central bank transparency on interest rates. This study differs from the few existing studies since: the analysis is done not only for the effect of transparency on the level of the monetary policy interest rate, but also on its volatility; the central bank transparency index that is used has never been utilized in this sort of analysis; and the study uses panel data methodology, and compares the results between different samples.

Libya's economic track could undo political progress

2021 ◽  
Keyword(s):  
Central Bank ◽  
Trade Barriers ◽  
Content Type ◽  
Military Commander ◽  
Central Bank Governor ◽  
Business Ties

Significance Unifying the budget would in effect guarantee funding to eastern Libya for the year -- a prospect unpalatable to western Libyans who suffered from eastern military commander Khalifa Haftar’s assault on Tripoli in 2019-20. However, the dialogue is also essential to unify the country and begin rebuilding. Impacts Turkey is banking on the incoming government to enhance business ties. If a new central bank governor is more friendly to Egypt, or Cyrenaica, then Turkey could lose privileges and find new trade barriers. President Mohamed Mnefi will aim to grow his own constituency in Cyrenaica, opposing Haftar and Parliament Speaker Aguila Saleh.

1. The birth of equity and trusts

2018 ◽  
Author(s):  
Richard Clements ◽  
Ademola Abass
Keyword(s):  
Supreme Court ◽  
Legal System ◽  
Wide Range ◽  
The Supreme Court ◽  
Complete Series ◽  
Explanatory Text ◽  
The Common ◽  
Primary Materials

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the origin of equity and trusts as distinctive aspects of the English legal system and the subsequent merger of equity with the common. It covers the meaning and origin of equity; what became of the chancery jurisdiction after the Earl of Oxford but before the Judicature Act; the reform of the Court of Equity; the Supreme Court of Judicature Acts 1873–5; the modern relevance of equity; the types and nature of trusts; and the recognition of trusts.

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