Evaluation of Hybrid FPOG Applications in Regulated and Deregulated Markets Using HERON

Becoming the World’s Biggest Market

10.1093/oso/9780190864576.003.0002 ◽

2018 ◽

Cited By ~ 2

Author(s):

Irene Spagna

Keyword(s):

Global Economy ◽

Global Financial Crisis ◽

Credit Default Swaps ◽

Deregulated Markets ◽

Otc Derivatives ◽

Regulatory Uncertainty ◽

Credit Default ◽

Basic Characteristics ◽

The Global Financial Crisis

This chapter analyzes the growth of OTC derivatives before the global financial crisis of 2008 and the role of credit default swaps, in particular, in the near collapse of the global economy. It begins by exploring the basic characteristics of derivatives used as risk management instruments by investors to hedge against or exploit the volatility of asset prices. The analysis further reveals that the pre-crisis period was characterized by a broad-based consensus favoring deregulated markets and globally designed private rules. While not always unanimously supported, permissive public regulatory choices were often encouraged by interest group lobbying, the market-friendly views of many domestic authorities, and concerns about regulatory uncertainty and international competitiveness.

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EXPRESS: Power resources and successful trade union actions that address precarity in adverse contexts: The case of Central and Eastern Europe

Human Relations ◽

10.1177/00187267211020189 ◽

2021 ◽

pp. 001872672110201

Author(s):

Aurora Trif ◽

Valentina Paolucci ◽

Marta Kahancova ◽

Aristea Koukiadaki

Keyword(s):

Trade Unions ◽

Future Research ◽

Eastern European ◽

External Resources ◽

Internal Resources ◽

Global Context ◽

Deregulated Markets ◽

Power Resources ◽

Eastern European Countries ◽

Depth Interviews

Is it possible for trade unions to fight precarity in an adverse global context? Although existing research suggests this is possible, there is limited understanding of the interplay of resources that enable unions to address precarity in deregulated markets. This study employs a power resource approach to investigate how unions overcome their external constraints. It draws upon 130 in-depth interviews with key informants across nine Central and Eastern European countries to investigate successful and unsuccessful union actions in sectors with differing external resources. In each sector, unions that mobilise their internal resources have been able to reduce various precarity dimensions, such as low wages, lack of voice, and irregular working time. The results reveal that unions whose objectives are based on convincing win–win discourses can make strides, acting as drivers of change in precarity patterns even in unfavourable conditions. Moreover, the study introduces a multi-dimensional conceptualisation of union success, identifying union actions that result in measurable improvements in precarity dimensions for all worker types. To deepen understanding of the role unions play in fighting precarity in adverse contexts, future research could investigate union actions that improve a wider range of precarity dimensions for all workers.

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