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Economic Regime (economic + regime)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	66%

Selected Abstracts

Co-evolution in an Institutionalized Environment*

JOURNAL OF MANAGEMENT STUDIES, Issue 8 2003
Suzana Rodrigues
abstract This paper examines the extent to which co-evolution can take place within a heavily constrained environment and how changes in the degree of institutionalization are relevant to opportunities for exercising strategic choice at the level of the firm. It addresses these questions through a detailed case study of a major Brazilian telecommunications company, Telemig, covering its life span of 27 years from 1973 to 2000. The insights obtained advance the theory of co-evolution by incorporating a political dimension of how organizations are transformed into new forms. In the case studied, new forms arose with radical changes in the rules affecting competition and with de-institutionalization of the economic regime by coalitions of actors who were strategically located in networks that crossed system levels. Although the Telemig case presents circumstances different to those usually addressed by studies of co-evolution, it nevertheless points to the virtues of combining a strategic choice approach with one that focuses on the isomorphic effects of institutional constraints. [source]

U.S. Power and the Politics of Economic Governance in the Americas

LATIN AMERICAN POLITICS AND SOCIETY, Issue 4 2005
Nicola Phillips
ABSTRACT This article examines the nature of the emerging regional economic regime in the Americas and argues that the dominant approach to economic governance is one defined by the assertion of U.S. power in the region and oriented toward distinctively U.S. interests and preferences. This has been clearly evident in the evolution of the Free Trade Area of the Americas but also, with the deceleration and fragmentation of that process during 2002 and 2003, in the growing prioritization of bilateralism. The leverage afforded by the bilateral negotiation of trade agreements acts to situate primary influence in shaping the rules that constitute the regional economic regime, and the primary functions associated with governing in this context, firmly within the agencies of the U.S. state. This essay therefore explores how the hegemonic power of the United States manifests itself in the substance of the hemispheric project and the shape of the economic regime associated with it. [source]

The Interest Rate Risk Exposure of Financial Intermediaries: A Review of the Theory and Empirical Evidence

FINANCIAL MARKETS, INSTITUTIONS & INSTRUMENTS, Issue 4 2003
By Sotiris K. Staikouras
The paper surveys current and previous research on financial institutions' interest rate risk exposure. The implications of such exposure are discussed and motivating insights are emphasized. Various theoretical frameworks and models are presented. For each one an overview of the studies and any relationship to each other is provided. In a cross-industry analysis, other idiosyncratic risk factors are considered and their importance is delineated. A number of empirical relations are established. More specifically, there is an inverse relationship between interest rate changes and common stock returns of financial institutions. The intermediaries' apparent yield sensitivity is mainly attributed to the duration gap inherent in their balance sheet structure. Furthermore, the aforesaid equity sensitivity due to other possible dynamics such as dividend yield, unanticipated inflation and regulatory lags is also considered. Changes in economic regimes have altered volatility in market yields with a subsequent effect, positive or negative, on financial intermediaries' equity returns. The issue of the risk-return compensation is further analyzed, and findings suggest that the interest rate risk is priced by capital markets. Finally, a few other issues are identified as avenues for future research. [source]

The knowledge-intensive company and the economy of sharing: rethinking utility and knowledge management

KNOWLEDGE AND PROCESS MANAGEMENT: THE JOURNAL OF CORPORATE TRANSFORMATION, Issue 4 2002
Alexander Styhre
Knowledge-intensive organizations are based on their capability of making use of intangible, intellectual resources and assets. As opposed to preceding economic regimes, the post- industrial society is to a lesser extent dependent on production factors that are subject to scarcity. Instead, knowledge tends to grow rather than being consumed as it is shared with others. When examining the practices of knowledge-intensive companies, an ethics of sharing underlying to the use of all knowledge needs to be recognized. Rather than conceiving of knowledge as being an organizational resource that is derived from previous economic regimes, the analysis of knowledge needs to be grounded in a different perspective. This paper is an attempt to formulate such a perspective on knowledge-intensive organizations as being based on sharing rather than exploitation. The argument is supported by an empirical study of a pharmaceutical company wherein the distribution of knowledge across project teams, communities of practice and individuals was of key strategic interest. Copyright © 2002 John Wiley & Sons, Ltd. [source]