Financial innovation and its governance: Cases of two major innovations in the financial sector
Keren Naa Abeka Arthur
Financial Innovation, 2017, 3:10 (open access)
Abstract: The power of financial innovations to affect societies on global and intergenerational levels compels us to ask how we can ensure their responsible emergence in society. This requires an understanding of how innovation occurs and how it is governed in practice. Despite this, there is little research on the process and governance of financial innovation. The few studies conducted in this area have focused on the ‘backend’ of the innovation process. Therefore, using data from secondary sources, this study investigates how two major financial innovations occurred and were governed, and it discusses the findings in relation to those in the literature. This approach revealed that innovation processes fall within a continuum ranging from structured to unstructured. Moreover, lead times are potentially longer for innovations that are significantly disruptive, new to the market, and technological in nature. Finally, innovation processes can involve multiple stakeholders who use both statutory regulation and self-regulation for innovation governance. This paper concludes that innovation processes and their governance can vary significantly according to different areas of the financial landscape and associated innovation contexts. Thus, there is a need for more empirical work to understand such variability and practices in the sector as a whole.
url – https://jfin-swufe.springeropen.com/articles/10.1186/s40854-017-0060-2
courtesy – Springer
Journal of Economic Perspectives Vol. 31, No. 1, Winter 2017
SYMPOSIUM: CHINA
Is China Socialist? by Barry Naughton
Human Capital and China’s Future Growth by Hongbin Li, Prashant Loyalka,Scott Rozelle and Binzhen Wu
From “Made in China” to “Innovated in China”: Necessity, Prospect, and Challenges by Shang-Jin Wei, Zhuan Xie andXiaobo Zhang
A New Era of Pollution Progress in Urban China? by Siqi Zheng and Matthew E.Kahn
Real Estate Boom with Chinese Characteristics by Edward Glaeser, Wei Huang,Yueran Ma and Andrei Shleifer
Why Does China Allow Freer Social Media? Protests versus Surveillance and propaganda by Bei Qin, David Strömberg andYanhui Wu
The Evolution of China’s One-Child Policy and Its Effects on Family Outcomes by Junsen Zhang
SYMPOSIUM: WOMEN IN THE LABOR MARKET
The New Life Cycle of Women’s Employment: Disappearing Humps, Sagging Middles, Expanding Tops by Claudia Goldin and JoshuaMitchell
Specialization Then and Now: Marriage, Children, and the Gender Earnings Gap across Cohorts by Chinhui Juhn and Kristin McCue
The Economic Consequences of Family Policies: Lessons from a Century of Legislation in High-Income Countries by Claudia Olivetti and BarbaraPetrongolo
ARTICLES
How to Write an Effective Referee Report and Improve the Scientific Review Process by Jonathan B. Berk, Campbell R.Harvey and David Hirshleifer
FEATURES
Retrospectives: Do Productive Recessions Show the Recuperative Powers of Capitalism? Schumpeter’s Analysis of the Cleansing Effect by Muriel Dal Pont Legrand andHarald Hagemann
Recommendations for Further Reading by Timothy Taylor
URL: https://www.aeaweb.org/issues/444
Courtesy: AEA
Tourism Economics, Volume 23, Issue 2, March 2017
Special issue: Cultural tourism and sustainable urban development
Guest Editor: JordiSuriñach , and KarlWöber
Introduction to the special focus :Cultural tourism and sustainable urban development by Jordi Suriñach, Karl Wöber
ORGANIC FARMING IN SPICES: THE CASE OF WAYANAD DISTRICT OF KERALA
T. A. Varghese
NRPPD DP No. 57, 2016
This study was conceived and attempted in the context of growing importance of organic farming all over the world, including India, during the last 15 years. Focus
of the study was on Wayanad district of Kerala as it had proportionately large
number of farmers cultivating spices and plantation crops. Organic farming was considered as a system and the one developed and co-ordinated by the Wayanad Social Service Society (WSSS) was taken for detailed study. Started as a programme in late 1990s, with a small group of around 150 farmers, it had grown with more than 10,000 participant farmers organized into around 400 local farmers groups, covering more than 10000 hectares of land under different stages of conversion. Internationally accepted certification, quality and reputation of the products, and support of government agencies helped export of spices at premium prices.
Following three recommendations are made based on the findings of the study:
(1) Formation and strengthening of groups of farmers should precede introduction of organic farming. Conversion should be the result of the collective learning, capacities and desire for change of the groups. (Action: Support formation and strengthening of groups of farmers first; and help the groups to initiate and continue the conversion process).
(2) Introduction and continued practice of organic farming had defined stages and
sets of activities over a period of time. A well defined and functioning system,
along with a collective body of farmers and a coordinating/supporting institution are required to support the producers to pass through the stages and complete activities. (Action: Develop and establish a proper system to consistently to support the farmers in introducing and continuing organic farming).
(3) Organic farming in mixed farming, followed mainly by the small and medium farmers, should be supported as it contributed to produce organic spices and food crops, and thereby meeting the objectives of safe food production and increased incomes from sale of spices. (Action: Values of farmers on safe food and concerns on environment/ecology should be supported as it would directly contribute to production of safe spices in the mixed farming plots of Kerala).
url – http://cds.edu/wp-content/uploads/2016/10/57_Varghese.pdf
courtesy – NRPPD, CDS, Tvpm
Tamil Nadu Migration Survey 2015
S.Irudaya Rajan, Bernard D’ Sami and S.Samuel Asir Raj
Centre for Development Studies WP 472, February 2017
The Tamil Nadu Migration Survey (TMS 2015) was commissioned by the Non Residence Tamils (NRT) Welfare Board under the Commissioner of Rehabilitation, Tamil Nadu, through funding from the Tamil Nadu planning commission. Additional resources were provided by the Loyola Institute of Social Science Training and Research, Chennai, Centre for Diaspora Studies, M S
University, Tirunelveli, Central University of Tamil Nadu, Thiruvarur and Rajiv Gandhi National Institute of Youth Development Institute.
The survey among 20,000 households in all the 32 districts of Tamil Nadu was coordinated by the Centre for Development Studies, Kerala, which is the lead partner in sampling, preparation of questionnaire, data entry and analysis and report presentation.
url – http://cds.edu/wp-content/uploads/2017/03/WP472.pdf
courtesy – CDS
Wayfinding: Indigenous Migrants in the Service Sector of Metropolitan India
Bengt G. Karlsson and Dolly Kikon
South Asia: Journal of South Asian Studies, May 2017 (Open Access)
Abstract: In the last decade, large numbers of indigenous youth from the uplands of Northeast India have migrated to metropolitan cities across the country. Many end up in the new service sector, getting jobs in high-end restaurants, shopping malls and spas. The demand for their labour is due to their un-Indian ‘exotic Asian’ appearance and a reputation for being hardworking and loyal. Such labour market value is a remarkable reversal of their position considering the earlier colonial stereotypes of their savagery and disobedience, reproduced through the de-politicisation of their armed insurrections during the post-colonial period. This paper addresses their daily experiences of vulnerability and marginality as well as the freedom and aspirations that a migratory life seem to engender.
url – http://www.tandfonline.com/doi/full/10.1080/00856401.2017.1319145
courtesy – T&F
Education, Globalization, and Income Inequality in Asia
Kang H. Park
ADB WP No. 732, May 2017
We consider how education and globalization affect income inequality in Asia, using unbalanced panel data. The evidence supports the validity of Kuznets’ inverted-U hypothesis for the connection between income level and income inequality. However, when more variables are integrated into the model, the consistency of the inverse U-shaped curve becomes weaker. The empirical results suggest that educational variables are highly influential in affecting income distribution. Our analysis indicates that a higher level of education achieved by the population aged 15 and over has improved income distribution in Asia, while educational inequality, measured by the education Gini index, has a negative effect on income distribution. Higher levels of globalization are correlated with higher levels of income inequality, while freedom, either political or economic, has marginal effects on the level of inequity in income distribution.
url – https://www.adb.org/publications/education-globalization-and-income-inequality-asia
courtesy – ADB
American Economic Review Vol. 107 No. 2, February 2017
Articles
High Discounts and High Unemployment by Robert E. Hall
No Price Like Home: Global House Prices, 1870-2012 by Katharina Knoll, MoritzSchularick and Thomas Steger
In with the Big, Out with the Small: Removing Small-Scale Reservations in India by Leslie A. Martin, ShanthiNataraj and Ann E. Harrison
Price Cutting and Business Stealing in Imperfect Cartels by B. Douglas Bernheim and ErikMadsen
Peer Effects in the Workplace by Thomas Cornelissen, ChristianDustmann and Uta Schönberg
Cultural Proximity and Loan Outcomes by Raymond Fisman, DanielParavisini and Vikrant Vig
You Owe Me by Ulrike Malmendier and Klaus M. Schmidt
Does Extending Unemployment Benefits Improve Job Quality? by Arash Nekoei and AndreaWeber
Detecting Potential Overbilling in Medicare Reimbursement via Hours Worked by Hanming Fang and Qing Gong
Misallocation and the Distribution of Global Volatility by Maya Eden
The Impact of Family Income on Child Achievement: Evidence from the Earned Income Tax Credit: Comment by Samuel Lundstrom
URL: https://www.aeaweb.org/issues/445
Courtesy: AEA
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