scholarly journals The Role of Evaluation in Spending Review

2018 ◽  
Vol 32 (3) ◽  
Author(s):  
Marc Robinson
Keyword(s):  
Performance Indicators ◽  
Global Financial Crisis ◽  
Information Base ◽  
The World ◽  
Fiscal Space ◽  
Design Selection ◽  
And Performance ◽  
The Global Financial Crisis

Abstract The role of spending review is to identify savings options which enable governments either to find fiscal space for priority new spending, or to cut aggregate spending. Following the surge in the use of spending review by governments around the world following the global financial crisis in 2008, many governments are now seeking to institutionalize spending review as a permanent part of the budget preparation process. The effectiveness of spending review is critically dependent upon the quality of its information base – that is the expenditure analysis and performance indicators which can assist in the search for savings options. Evaluation is an essential part of this information base. However, ensuring that the potential of evaluation to inform spending review is realized will require considerable reflection on the design, selection and conduct of evaluations. Résumé:L’objectif des exercices de révision budgétaire est d’identifier des moyens d’économiser afin que les gouvernements puissent trouver une disponibilité fiscale pour de nouvelles dépenses, ou pour couper les dépenses globales. Suite à l’intérêt pour les exercices de révision budgétaire, au niveau mondial, suivant à la crise financière de 2008, de nombreux gouvernements cherchent à institutionnaliser de façon permanente ces exercice dans le processus de préparation des budgets. L’efficacité des révisions budgétaire repose de façon critique sur la qualité de l’information à laquelle elle a accès – c’est-à-dire l’analyse des dépenses et les indicateurs de performance qui peuvent informer sur les sources potentielles d’économie. L’évaluation est une composante importante de cette information. Toutefois, s’assurer que l’évaluation puissent informer les exercices de révision budgétaire implique une réflexion importante sur la façon dont elles sont conçues, orientées et réalisées. 

After The Global Crisis, Is It Globalization or Globalonelization?

2015 ◽  
pp. 287-307
Author(s):  
Ayfer Gedikli ◽  
Seyfettin Erdoğan ◽  
Durmuş Çağrı Yıldırım
Keyword(s):  
Emerging Economies ◽  
Financial Crises ◽  
Local Governments ◽  
World Wide ◽  
Global Financial Crisis ◽  
Economic Consequences ◽  
Global Crisis ◽  
The World ◽  
The Global Financial Crisis

Since the rise of globalization which has abolished the role of nation-state gradually, the world has been increasingly dealing with world-wide pandemics and multi-regional financial crises. The nature of the Global Financial Crisis has made it clear that financially integrated and globalized markets which are poorly regulated with lax supervision, can pose significant risks, with disastrous economic consequences. Did global unfairness and loose monetary policy or lack of common fiscal policy deepen the crisis? Is globalization responsible from the loss of power of local governments on their economies? Finally, can “deglobalization” be an alternative solution for the emerging economies? The answers of these questions are even more crucial after the “FED tapering”. In this context, this chapter discusses the future of financial globalization with respect to its effects on the emerging economies during the global crisis.

scholarly journals Ownership Concentration and Performance Recovery Patterns in the European Union

2019 ◽  
Vol 11 (4) ◽  
pp. 953 ◽  
Author(s):  
Alexandra Horobet ◽  
Lucian Belascu ◽  
Ștefania Curea ◽  
Alma Pentescu
Keyword(s):  
European Union ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Corporate Performance ◽  
Manufacturing Sector ◽  
Ownership Concentration ◽  
The European Union ◽  
And Performance ◽  
The Global Financial Crisis

Our study addresses the link between ownership concentration and corporate performance in the manufacturing sector in the European Union in an economic environment stressed by the global financial and sovereign debt crises. This is, to our knowledge, the first attempt to tackle differences between companies with different origin-countries in EU from the perspective of ownership concentration and corporate performance in a period marked by the adverse impact of the global financial crisis. Ownership concentration is measured by the number of shareholders and the percentage of their individual and collective holdings, while performance is measured by accounting-based and market-based indicators. Our results, based on a detailed and methodical statistical analysis, show a clear division between Western and Eastern companies in terms of ownership concentration and performance, with an impact on businesses’ recovery patterns. Overall, there is a positive link between ownership concentration and corporate performance in the case of Western companies, but not for Eastern-based companies. Moreover, ownership concentration has supported business recovery in EU, but particularly for Western companies. On the other hand, our results suggest that market investors’ assessment of corporate performance is disconnected from business fundamentals and do not acknowledge the role of ownership concentration (either beneficial of detrimental) for performance assessment.

scholarly journals Business, as usual: the policy priorities of the World Bank's discourses on youth unemployment, and the global financial crisis

2013 ◽  
Vol 29 (1) ◽  
pp. 64-78 ◽  
Author(s):  
Ross Fergusson ◽  
Nicola Yeates
Keyword(s):  
World Bank ◽  
Global Financial Crisis ◽  
Criminal Activity ◽  
Youth Unemployment ◽  
The World ◽  
Wage Regulation ◽  
The Global Financial Crisis ◽  
Business As Usual ◽  
The Unemployed

This article undertakes a detailed analysis of the formative role of the World Bank in the framing of youth unemployment. It charts the World Bank's emergence as a powerful political actor in this policy field and identifies the ideational content of its policy discourses on the causes of youth unemployment and responses to it. Four principal themes are identified: skills deficits; wage regulation; the “demographication” of explanations for burgeoning youth unemployment; and connections between youth unemployment, criminal activity and social disorder. The discussion highlights significant evidence of neo-liberal continuity and reinvention in World Bank discourses as its normative and ideational frameworks are extended to new terrains of analysis in ways that infer links between youth unemployment and individual deficits of the unemployed.

scholarly journals Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

2012 ◽  
Vol 4 (3) ◽  
pp. 30-55 ◽  
Author(s):  
Laura Alfaro ◽  
Maggie Xiaoyang Chen
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Foreign Ownership ◽  
Differential Response ◽  
Crisis Period ◽  
The World ◽  
The Global Financial Crisis ◽  
Better Than

We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world responded to the crisis relative to local establishments. We find that, first, multinational subsidiaries fared on average better than local counterfactuals with similar economic characteristics. Second, among multinational subsidiaries, establishments sharing stronger vertical production and financial linkages with parents exhibited greater resilience. Finally, in contrast to the crisis period, the effect of foreign ownership and linkages on establishment performance was insignificant in noncrisis years. (JEL F23, G01, L22, M16)

scholarly journals Global Imbalances: The Role of Institutions, Financial Development and FDI in the Context of Financial Crises

2021 ◽  
Vol 13 (1) ◽  
pp. 356
Author(s):  
Carlos A. Silva ◽  
Xavier Ordeñana ◽  
Paul Vera-Gilces ◽  
Alfredo Jiménez
Keyword(s):  
Financial Crisis ◽  
Financial Development ◽  
Current Account ◽  
Global Financial Crisis ◽  
Quality Of Institutions ◽  
Current Account Imbalances ◽  
The Global Financial Crisis ◽  
Current Account Balances

This paper examines the role of the quality of institutions, financial development and FDI on current account imbalances, which narrowed during the Global Financial Crisis. In doing so, we utilize (i) a sample of 49 advanced and emerging economies during 1984–2014; (ii) a novel three-clustered indices of institutional quality and (iii) two measures of financial development, the share of FDI and a measure of financial crisis in addition to standard determinants of the current account. We find that the better the quality of institutions and the greater the financial development, the larger are current account deficits; meanwhile, FDI contributes to boost current account balances. Moreover, financial crisis episodes tend to improve current account balances, particularly for countries that are highly open to trade and to receive FDI, as in the case of advanced economies and East Asian countries.

scholarly journals Diversified, integrated and cross-border acquisitions and firm performance: A comparison of family and non-family Italian listed firms

2018 ◽  
Vol 16 (1) ◽  
pp. 72-86 ◽  
Author(s):  
Fabio La Rosa ◽  
Francesca Bernini ◽  
Giovanna Mariani
Keyword(s):  
Family Involvement ◽  
Family Firms ◽  
Global Financial Crisis ◽  
Target Selection ◽  
Family Ownership ◽  
Listed Firms ◽  
And Performance ◽  
The Global Financial Crisis ◽  
External Growth

In family firms, the principal-agent relationship and the steward role of family managers are determinants for external growth and acquisition target selection. In fact, some acquisitions are better for the family’s need for risk reduction and company preservation. We aim to verify if family involvement in ownership and management influences firms’ acquisition propensity, type of strategy, and post-deal performance. We develop an empirical analysis for a sample of 141 Italian listed companies during 2005–2011, which includes the global financial crisis. Our results reveal that Italian listed family firms have lower acquisition propensity than non-family firms because of family involvement in ownership and executive committees. Especially, diversifying strategies are less pursued by family firms, and this is corroborated when family ownership increases. However, while family firms do not differ from non-family firms on post-acquisition performance, a moderating role of family firms and family ownership does exist for diversified acquisitions and performance.

scholarly journals The Role of Corporate Culture in Maintaining Organizational Operations during the Global Financial Crisis

2013 ◽  
Vol 4 (3) ◽  
pp. 141-146 ◽  
Author(s):  
Hala Abdulqader Sabri
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Corporate Culture ◽  
Global Financial Crisis ◽  
Leadership And Management ◽  
Flexible Organizations ◽  
Quality Of Products ◽  
The Global Financial Crisis

The global financial crisis that unfolded in 2008 presents leaders and managers with many challenges. Yet, the lessons of this crisis also present opportunities to create more responsive and flexible organizations capable of overcoming the risks and troubles more effectively. However, in the midst of this crisis it is apparent that most of the attention seems to be devoted to changing regulatory structures and rules that affect corporate governance and the financial markets. This paper argues that the root causes of such crisis are deep and unlikely to be addressed through public policy or external means alone. Most of the problems during this financial crisis can be traced to that most CEOs and executives did not actually pay attention to their company's culture as they did with regard to their profits, assets, brands, and quality of products and services. The paper then explores the vulnerability of firms whose executives fail to manage their company's culture at the time of crisis with as much thoroughness as they apply to managing their financial, operational or technology risks. Finally, the paper lays out a leadership and management strategy based on the strengths of maintaining a strong corporate culture guided by adherence to the core values of the organization.

The Student Academic Experience

2017 ◽  
Author(s):  
David Willetts
Keyword(s):  
Global Financial Crisis ◽  
Academic Experience ◽  
Role Of The State ◽  
Teaching Of Economics ◽  
New Students ◽  
The Subject ◽  
The Global Financial Crisis ◽  
Philosophy And Economics

I can still remember going to my first economics lecture when I arrived at Oxford to study Politics, Philosophy, and Economics. It was a rather plodding account of the main British industries of the 1970s—manufacturing, mining, etc. The only vivid moment came when we were breaking up at the end and a student sitting nearby turned to me with a question: ‘What’, he asked, ‘is coal?’ International students really do bring different perspectives. Looking back now I can see that the economics faculty could have done so much more with that first lecture. They should have fielded Oxford’s most eminent professor to give us a powerful account of the shape and significance of economics. That first lecture was always going to stick in the memory: it was a missed opportunity. Oxford subsequently reformed their lectures for new students and deploy their most prestigious academics. Other universities have done this too. One academic told me, with just a hint of cynicism, the first lecture to new students was like empty skips appearing in your street—you need to fill them with your rubbish before anyone else can put their rubbish in. The teaching of economics has been caught up in swirling controversy. It involves big arguments about the role of the state and how the global financial crisis should change the discipline. But it is also about what constitutes good teaching. Here is an account of how the subject was taught at one university: ‘Tutorials consist of copying problem sets off the board rather than discussing economic ideas, and 18 out of 48 modules have 50% or more marks given by multiple choice.’ Proper teaching involves keeping a subject fresh by endlessly updating it as some contested issues are resolved or just become moribund whilst new areas of exploration and dispute emerge. Einstein is supposed to have set students the same physics questions two years in succession, but when he was challenged he replied that although the question was the same the answer had changed. The quality of teaching is the biggest problem facing our universities.

scholarly journals ON THE ROLE OF NOISE AGGRESSION IN A COMFORTABLE ENVIRONMENT MAN

2016 ◽  
Vol 1 (12) ◽  
pp. 40-47
Author(s):  
Канева ◽  
Elena Kaneva ◽  
Загороднюк ◽  
Liliya Zagorodnyuk ◽  
Лесовик ◽  
...  
Keyword(s):  
Construction Projects ◽  
Human Life ◽  
Insulating Materials ◽  
Negative Factor ◽  
Industrial Buildings ◽  
The World ◽  
Acoustic Comfort ◽  
And Performance

Ensuring acoustic comfort in residential, public and industrial buildings is a relevant problem today in the world, because this factor significantly affects the quality of human life. The article presents information about the effects of noise as a negative factor on a person. In the construction of Modern construction projects and landscaping needs effective sound-insulating materials, characterized by high functional and performance properties. Acoustic materials must be cost competitive and meet complex requirements, combining acoustic, decorative and special properties.

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