Investors' perceptions of nonaudit services and their type in Germany: The financial crisis as a turning point

2018 ◽  
Vol 22 (2) ◽  
pp. 298-316 ◽  
Author(s):  
Aasmund Eilifsen ◽  
Reiner Quick ◽  
Florian Schmidt ◽  
Steffen Umlauf
Keyword(s):  
Financial Crisis ◽  
Turning Point ◽  
Nonaudit Services

Inequality amid Stagnation

2018 ◽  
Author(s):  
Andrea Brandolini ◽  
Romina Gambacorta ◽  
Alfonso Rosolia
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Turning Point ◽  
Global Financial Crisis ◽  
Real Income ◽  
Income Growth ◽  
Macroeconomic Performance ◽  
Major Turning Point ◽  
The Global Financial Crisis

This chapter describes how inequality and real incomes evolved in Italy from the 1980s through the double-dip recession it experienced after the Global Financial Crisis. It brings out how the crisis Italy experienced in the early 1990s marked a major turning point, with inequality increasing and economic growth subsequently low. The labour market and tax–transfer reforms implemented in the following years are also discussed. The severe impact of the economic Crisis and very limited recovery seen to date reinforce pre-existing cleavages across the generations and geographically. Substantially improved macroeconomic performance is seen as central to the restoration of significant real income growth for ordinary households.

scholarly journals The FSA, “credible deterrence”, and criminal enforcement – a “haphazard pursuit”?

2013 ◽  
Vol 21 (1) ◽  
pp. 4-28 ◽  
Author(s):  
Gary Wilson ◽  
Sarah Wilson
Keyword(s):  
Financial Crisis ◽  
Turning Point ◽  
Domestic Politics ◽  
Global Financial Crisis ◽  
Financial Crime ◽  
Content Type ◽  
Market Abuse ◽  
The Global Financial Crisis ◽  
The Uk ◽  
Changing Attitudes

Purpose– Located within growing scholarly interest in linking the global financial crisis with revelations of financial crime, this piece utilises Roman Tomasic's suggestion that the financial crisis has marked something of a turning point in regulatory responses to financial crime worldwide. Tomasic attributes this to changing attitudes towards light-touch regulation and risk assessment, and the demand for existing agencies to be replaced with new tougher authorities. In the UK, this can be illustrated by the imminent replacement of the FSA with the Financial Conduct Authority (FCA). The paper aims to discuss these issues.Design/methodology/approach– Discussion of the FSA's financial crime fighting activity is an important forecast for the likely directional focus of the FCA in this regard. A focus only on “market abuse” enforcement within this arises on account of the effects for financial systems widely attributed to this activity, with threats to systemic stability being a hallmark of the 2007-2008 financial crisis. This methodology also encourages coherence in focus and management of sources within the article. Market abuse enforcement provides a lens for exploring the FSA's adoption of the philosophy and ethos of “credible deterrence”, and FCA commitment to retain it, and ultimately for applying the hypothesis of the “haphazard pursuit of financial crime” to pre-crisis criminal enforcement relating to financial crime undertaken by the FSA.Findings– The FSA and FCA appear acutely aware that the financial crisis has marked something of a turning point for the enforcement of financial crime, and for signalling changes in approach, for the reasons explored by Tomasic. Tomasic correctly identifies factors encouraging a range of undesirable practices pre-crisis, and ones signalling tougher and more sustained attention being paid to financial crime henceforth. It is noted that, pre-crisis, the FSA's pursuit of criminal enforcement of market abuse was conscious, comprehensively resourced, well publicised, and actually extensive.Originality/value– This exploration of the FSA's criminal enforcement of market abuse given the Authority's own perceptions that it was not, and could never be, a “mainstream” criminal prosecutor considers the likely lasting legacy of this determined pursuit, when domestic politics and pan-European policies suggested against this. This is likely to be enormously valuable as the FCA undertakes this task in a domestic arena which is markedly in contrast from this, and where European agendas are pushing in favour of criminal enforcement, with the “more Europe, or less” debate providing a further dimension of interest.

scholarly journals THE CORONAVIRUS CRISIS AND THE ECONOMIC CRISIS. IS CAPITALISM AT A NEW TURNING POINT?

2020 ◽  
Vol 14 (2) ◽  
Author(s):  
Daniel Daianu ◽  
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Turning Point ◽  
Public Policies ◽  
Economic Downturn ◽  
Social Scientists ◽  
Policy Makers ◽  
Current Economic Crisis ◽  
Crisis Call

Mankind will prevail in the fierce war against the coronavirus, a hidden, treacherous foe that has been attacking randomly and leaving many human deaths behind. The struggle with this pandemic has an end in sight because we have effective weapons to combat it now, such as vaccines which are be used on a grand scale, worldwide. We will overcome the severe economic downturn as well; but this crisis will leave deep scars, given that economies are witnessing sweeping changes. These changes, adding to tensions and intricate issues and policy dilemmas that date back prior to the Pandemic and the current economic crisis, call for introspection, examination of economies’ functioning and a revisiting of public policies. The financial crisis that erupted a decade ago prodded social scientists and policy-makers to think about serious problems that afflict modern economies. In the text below I hook up with ideas that I have expressed in recent years and extrapolate them to the fallout from the current crises

scholarly journals Crisis and the Reproduction of Core-Periphery Relations on the Hungarian Housing Market

2018 ◽  
Vol 24 (2) ◽  
pp. 17-38 ◽  
Author(s):  
Zsuzsanna Pósfai ◽  
Gábor Nagy
Keyword(s):  
Financial Crisis ◽  
Housing Market ◽  
Capital Investment ◽  
Turning Point ◽  
Global Financial Crisis ◽  
Housing Markets ◽  
Uneven Development ◽  
Point Of Entry ◽  
The Global Financial Crisis ◽  
Financial Capitalism

Housing markets can be understood as indicators of the spatial pattern of capital investment under contemporary financial capitalism. We take this point of entry in order to analyze core-periphery relations around the turning point of the global financial crisis of 2007–2008 on the Hungarian housing market. The instance of crisis sheds light on patterns of homogenization and differentiation; the effects of which can be understood by exploring housing market activity on various scales from the European to the local/regional. We argue that these two patterns of uneven development are inextricably linked and result in deepening sociospatial polarization.

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