Level of services,spatial dependence and allocative efficiency in local governments

In the public economics literature expenditure needs, allocative efficiency and spatial dependence of local governments costs have been widely analysed separately implying bias estimations of the expenditure needs at local level. An original procedure that simultaneously takes into account the standard level of services, the allocative efficiency and the spatial proximity among Municipalities, has been proposed. The estimation strategy has been applied on a very detailed database of more than 4,000 Italian Municipalities for the year 2013.     

How does intergovernmental fiscal environment affect general fund balances of major American cities?

This study explores the extent to which intergovernmental fiscal factors affect fiscal reserves in municipal general funds. Statistical results from panel data of 87 major cities in the US for the period from 1995 to 2010 show that cities facing more restrictive limitations on local property taxation tend to maintain higher levels of unreserved general fund balances. Additional analyses also show that fiscally constrained cities accumulate surpluses in their general funds. This is consistent with the proactive approach in which municipal governments make fiscal decisions with the awareness of expected state constraints on their revenue-raising capacity. We call for consideration of relevant intergovernmental constraints in the determination of appropriate level of fund balances for municipal governments.     

Political Consensus and Fiscal Outcomes

It is becoming difficult to maintain consensus in a period of economic austerity, and this possibly challenges the ability of democratic institutions to take decisions on tough economic questions. In order to find out how political consensus influences fiscal outcomes, this article sets out to analyse the association between political consensus and public expenditure growth. The results show that political consensus is positively associated with both budgeted and actual expenditure growth, but also negatively associated with budget overruns. This indicates that political consensus comes at a cost, while at the same time politicians may be better at sticking to budgets if political consensus exists. The analysis is based on a pooled regression analysis of the local governments in Denmark in the years 2008 and 2009 using a data set combining survey data with administrative data on the local governments.     

A critical evaluation of the Downs-Hazen instrument (CSQ) by measuring employee communication satisfaction at a private higher education institution in South Africa

Abstract

The aim of this article is to provide a critical evaluation of the Downs-Hazen instrument (Communication Satisfaction Questionnaire) (CSQ) by applying it to the measurement of employee communication satisfaction at a private higher education institution in South Africa. Three communication satisfaction dimensions, consisting of eight constructs, were measured. The results indicated that although employees are satisfied with their relationship with superiors, a need exists for improved communication on the psychological atmosphere in the organisation; the information employees receive about their immediate work environments, meetings and written directives; horizontal and informal communication that is accurate and free flowing; information about the organisation as a whole; as well as the way in which employees are being judged and appraised.

A final conclusion is that the Downs-Hazen CSQ is still applicable even though it was first developed almost 30 years ago. Furthermore, the adjustments to items in this study did not affect the reliability of the adapted questionnaire.     

Why preferences and institutions change: A systematic process analysis of credit rating in Germany

This article argues that a within‐case analysis of the causes and patterns of the institutionalisation of rating in the German financial system offers fresh insights into change in the major socioeconomic institutions of advanced capitalism. Using the method of systematic process analysis, the article explores the expansion of credit rating in the German banking system from three perspectives: historical (power), sociological (diffusion) and behavioural institutionalism (prospect theory). It demonstrates that the proliferation of credit rating resulted from a change of preference on the part of large banks. With Germany as a least likely case for successfully implementing rating, the study's main lesson is that institutional analysis may benefit from incorporating behavioural institutionalism into the analysis of preference change because this cites economic motivations as causes of preference shifts and institutional changes.     

地方立法的类型及其创新

地方立法是我国社会主义法律体系的重要组成部分,社会主义法律体系形成之后,对地方立法工作提出了进一步的要求,如何进一步发挥地方立法的功能成为我们需要解决的重要课题。地方立法包括两种类型:地方实施性立法和地方创制性立法。两种类型都各自发挥着不同的社会功能,但在实际运作过程中出现了功能弱化的现象。地方金融立法是地方实施性立法的一种类型,以地方金融立法为切入口,分析如何提高地方立法质量,发挥地方立法的功能。     

处理金融消费纠纷的新思路

我国目前处理金融消费纠纷的途径主要包括媒体途径、政治途径、诉讼途径和信访途径;这些途径存在很多不足之处。金融机构系统内部很少为消费者维权提供适当的途径,非诉讼的纠纷解决机制非常缺乏。而在国外,金融消费纠纷解决途径是多元并存的,非诉讼的争议解决途径占有重要地位。随着"消费者"的概念在金融领域内的延伸与兴起,我国有必要借鉴国外的先进经验,在金融法中引入"消费者"的概念,将保护金融消费者利益作为金融监管的第一目标以及我国金融改革和制度设计的指导原则之一,建立多元化的金融消费纠纷处理机制。     

论美国破产法之金融合约安全港规则

金融合约的安全港规则,包括安全港规则的立法原因、金融互换及其他金融合约的定义、受保护交易及其判定方法、受保护主体、破产机制豁免待遇内容及其评价等。美国破产法典确立了金融合约安全港规则,我国破产法在此方面有所欠缺,应建立我国的安全港制度。     

Gambling on compliance with the new 2005 Act: Do organisations fulfil new regulations?

Gambling is not a new phenomenon. Indeed gambling has been seen to be omnipresent throughout history and culture. However gambling has taken a new path. Online gambling is fast becoming a major pastime for many of society. The ease of access and convenience of play has led to an increase in the numbers of people gambling, and not just online. Within the increase of online gambling there has also been an increase in the regulation surrounding this industry. This paper explores the regulatory approach to online gambling within the UK. The researchers explore the Gambling Act 2005 (UK) and provide an empirical analysis of the UK major gambling organisation to determine what regulatory aspects they adopt and what safety measures they have in place to protect minors and to protect against financial crime. The researchers finally looks at policy implications for UK governments when regulating future online gambling.     

国际金融危机背景下我国的金融监管法律应对

在当前国际金融危机逐步加深的背景下,金融风险对金融监管有制度性需求,而减低机制性金融风险关键在于以法治促进金融体制和金融运行机制的改革与完善。我国金融监管法律制度还存在法律规则的供给机制混乱、供给理念滞后、制定主体多元且规则质量差、效率不高等诸多缺陷。借鉴英美等金融发达国家的监管经验与教训,以及欧盟等区域性合作组织的成功实践,按照巴塞尔银行监管委员会所倡导的金融监管理念,我们理应从金融监管法律的创制、具体处置措施的完善和金融监管立法的国际化三个层面有所作为。