The Implication of Ppp on Ptm

In: Business and Management

Submitted By k19881218
Words 25821
Pages 104
3 The Regulatory System in the United Kingdom

This chapter examines the regulatory system currently in place in the United Kingdom. It provides an overview of the structure and objectives of regulation, the role of the regulator and the techniques that are employed in regulating firms and individuals who engage in investment business.

3.1 Background: the financial crisis and regulatory reform

3.1.1 Responding to the financial crisis In the UK, as elsewhere, the onset of the financial crisis exposed deficiencies in financial regulation and led to calls for regulatory reform. The Treasury Select Committee1 led the way, with its hearings into the collapse of Northern Rock exposing serious deficiencies in supervision and risk management.2 In October 2008, the Chancellor of the Exchequer asked Lord Turner, the newly appointed chairman of the FSA, to review the causes of the crisis and to make recommendations on the changes in regulation and supervisory approach needed to create a more robust banking system for the future. The Turner Review3, published in March 2009, made a

1

The Treasury Select Committee is a Parliamentary (House of Commons) committee that scrutinises the

activity of the regulatory authorities in the UK.
2

See House of Commons Treasury Committee, The Run on the Rock HC 56-1 (Fifth Report of Session

2007-08).
3

FSA, ‘The Turner Review, A regulatory response to the global banking crisis’ (March 2009) at

http://www.fsa.gov.uk/Pages/Library/Corporate/turner/index.shtml. See also the FSA publication that accompanied the Turner Review: FSA Discussion Paper 09/2 ‘A regulatory response to the global banking crisis’ (March 2009) at http://www.fsa.gov.uk/pubs/discussion/dp09_02.pdf. For a more detailed discussion of both see I MacNeil ‘The Trajectory of Regulatory Reform in the UK in the Wake of the Financial Crisis’, 11(4) European…...

Similar Documents

Implications

...NBER WORKING PAPER SERIES IMPLICATIONS OF POPULATION AGING FOR ECONOMIC GROWTH David E. Bloom David Canning Günther Fink Working Paper 16705 http://www.nber.org/papers/w16705 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 January 2011 Support for this work was provided by the Program on the Global Demography of Aging at Harvard University, funded by Award Number P30AG024409 from the National Institute on Aging. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institute on Aging or the National Institutes of Health. The authors thank Marija Ozolins and Larry Rosenberg for their assistance in the preparation of this paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2011 by David E. Bloom, David Canning, and Günther Fink. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Implications of Population Aging for Economic Growth David E. Bloom, David Canning, and Günther Fink NBER Working Paper No. 16705 January 2011 JEL No....

Words: 15223 - Pages: 61

Implications for the Future

...Water Control: Flooding Issues in Houston, Texas The purpose of this paper is to analyze and discuss the flooding problems in Houston, Texas. As a part of this analysis, this paper will assess the economical, political, and legal implications of Houston’s flooding. It will also explain the relationship that psychology has to environmental preservation, and will create a solution to the issue at hand. In the process of proposing a conceivable solution, this paper will discuss the economic, political, and legal barriers of the solution, how they can be overcome, and why this solution will be successful. Flooding Issues in Houston, Texas Houston, Texas is home to over two million individuals, and is the fourth largest city within the United States of America. It is located in the Southeastern part of the state of Texas, and sits roughly 50 feet above sea level. Houston is known for its famous nickname of the Bayou City, as it is home to over 2,500 miles of manmade rivers. These manmade rivers (bayous) are the city of Houston’s way of containing and channeling rain water to the ocean. This alternative drainage system was a much needed installation because of the city’s position, as compared to the sea level (Bayou Preservation, 2012). Currently, Houston suffers from severe flooding issues (i.e. flash floods, urban floods, river and bayou floods), and depending upon the area of town, the probability of high and slow moving floodwaters increase. As the city’s population...

Words: 2906 - Pages: 12

Discussion and Implications

...Limitations and Implications for Future Research Several limitations of this study should be noted. First, the sample size was somewhat small, particularly with respect to analyses pertaining to communication and effort. Although this is understandable given the difficulty of securing cooperation from only Cypress students only, it would be helpful if investigators attempted to obtain larger sample sizes in future studies, and especially more diverse samples that include non students. Larger and more diverse samples would provide an opportunity to conduct more sensitive tests of how well the investment model predicts measure levels of commitment, communication, and intimacy in two groups of participants; those who are single and those who are in a relationship. Second, because our results are correlational and data were gathered at only one point in time, we cannot make attributions of causality with the two groups of participants; who are single and those that are in a relationship, if the levels of commitment, communication, and intimacy perspectives change over due course of time. Researchers in future studies of commitment and satisfaction in a romantic relationship use the longitudinal designs to follow the two groups of participants to observe developmental changes, thus controlling for cohort effects. Also, in future research, it would be helpful to obtain external corroboration of later levels of commitment and satisfaction of participants through a third person......

Words: 840 - Pages: 4

Ppp Model in Rural Health

... 1. List of Abbreviations 3 2. Abstract 4 3. Introduction 6 3.1 Private Sector in India 7 3.2 THE ROLE OF THE PRIVATE SECTOR IN HEALTH CARE 8 3.3 Public/Private Partnership 8 3.4 OBJECTIVES OF PUBLIC PRIVATE PARTNERSHIPS 10 3.5 Classifying PPPs 10 3.6 Challenges in Partnership 11 3.7 Characteristics of Partnership 12 3.8 Scope and types of partnership 13 3.9 The Study for Research paper 15 3.10.1 Analysis and Discussion 16 3.10.2 Overview of the Case Studies 16 3.10.3 Enabling Conditions 17 3.10.4 Equity and Accessibility 19 3.10 Private partner selection and obligations of the Partners 19 3.11 Performance Specifications 20 3.12 Resource implications 20 3.13 Autonomy 21 3.14 Technical and managerial capacity 22 3.15 Quality of services 23 3.16 Stakeholder Perspectives 23 4. Summary and Conclusion 24 5. References 26 6. Annexure 29 1. List of Abbreviations PPP Public Private Partnership HSR Health Sector Reform ADBI Asian Development Bank Institute NRHM National Rural Health Mission FRU First Referral Unit MMVs Mobile Medical Unit CHC Community Health centre PHC Primary Health centre SC Sub centre MBA Master of Business Administration WHO World......

Words: 15419 - Pages: 62

Absolute Ppp

...Absolute PPP * A bundle of goods should cost the same in Canada and the US once you take the exchange rate into account * Any deviations from this (if a basket of goods is cheaper in Canada than in the US) , then we should expect relative prices and the exchange rate between the 2 countries to move towards a level at which the basket of goods have the same price in the two countries. Relative PPP * The differences in the rates of inflation between two countries * Suppose the rate of inflation in Canada is higher than that in the US, causing the price of a basket of goods in Canada to rise. PPP requires the basket be the same price in each country, so this implies that the Canadian dollar must depreciate vis a vis the US dollars. The percentage change in the value of the currency should then equal the difference in the inflation rate between the two countries. Exchange Rates: Nominal exchange rate simple states how much of one currency can be traded for a unit of another currency. The real exchange rate, describes how many of a good or service in one country can be traded for one of that good or service in another country. * For example, a real exchange rate might state how many European bottles of wine can be exchanged for one US bottle of wine. Real exchange rates can be thought of as answering the following question: If you took an item produced domestically, sold it at the domestic market price, exchanged the money you got for the item......

Words: 1032 - Pages: 5

Ppp Fashions, Inc.

...MEMORANDUM TO: Professor John Eckroth DATE: 12/03/2013 SUBJECT: Project #2 – PPP Fashions, Inc. The purpose of this memo is to address the accounting issues related to how PPP Fashions should record the $25 Referral Credit on the books. The Financial Accounting Standards Board’s Accounting Standards Codification (ASC) Topic No. 605-50 (Revenue Recognition/Customer Payments and Incentives) provides guidance pertaining to sales incentives including discounts on future purchases. The general rule of accounting for coupons and discounts indicates sales incentives that are offered voluntarily, without charge by a company, may be used by a customer as a result of a single transaction, and will not result in loss on the sale are recognized at the later of: a) The date at which the related revenue is recorded by the vendor, or b) The date at which the sales incentive is offered. The Referral Credit, once redeemed by the Existing Customer, has an impact on the future sales transaction; therefore, the company should record it as a reduction of revenue when the related revenue is recognized. The Referral Credit is recorded at the time earned when the New Customer makes a purchase. The company would recognize the expense as a debit to the Referral Credit expense account and credit the contra revenue account, Referral Credit Allowance. At the time the Existing Customer makes the purchase, the company will recognize the Referral Credit by debiting the Referral......

Words: 783 - Pages: 4

Issues Implication

...Issue in the implication of the concept of tabarru’ Tabarru’ is derived from the word tabarra’a which carries the meaning of contribution, gift, donation or charity. In technical sense, it is a unilateral declaration of intent, which is a contract with a particular nature in Islamic commercial law. Tabarru is basically to give a favor to the recipient without any specific consideration in return. Unlike the exchange contract, this type of contract is valid and enforceable in Islamic commercial law even without consideration. According to Dusuki at el., (2012), the definition of Tabarru’ is essentially a contribution or donation which entails no return but rather a reward from Allah alone. By the definition, we identified to important pillars which is the intention to perform Tabarru and the absence of counter-value. If any or both of the two are absent it is not considered as Tabarru’. The Prophet (s.a.w) said: “He who retracts his hibah is like the one who swallows what he vomits”. Thus, it makes it forbidden to retract the gift on whatever grounds or even to benefit from it in one way or other. Thus, the concept of Tabarru’ seems to apply that when the moment of a donor gives out his asset as Tabarru, he relinquishes his ownership to the second party who now takes full ownership and possession of the property or asset. However, the current practice in modified Wakalah model states that a donor or a participant can still be entitling to claim in the case of misfortune.......

Words: 580 - Pages: 3

Analysis and Implications

...Running head: ANALYSIS AND IMPLICATIONS FOR PRACTICE OF Analysis and Implications for Practice of Qualitative Research Report Analysis and Implications for Practice of Qualitative Research Report Palliative care education is an educational factor that could give education to undergraduate nursing and medical students on how they can be a part of broad management of the physical, psychological, social, and spiritual, needs of patients. Palliative care education is needed especially for those who will be involved in caring for patients who are terminally ill to assist them to obtain the best quality of life possible by providing relief of pain and suffering, controlling symptoms, and reinstating functional capacity. Nurse educators have recognized that traditionally nurses have not been well prepared in caring for dying patients. Research also has acknowledged that nursing students have nervousness about dealing with death and dying. Many aspects have been recognized as influencing nurses’, nursing students’, and medical students’ feelings towards caring for the ill. Providing palliative care to dying, elderly patients will always be a challenge for healthcare providers. In 2009, Germany implemented palliative care as an essential part of medical curriculum. In many western countries, the number of patients with multimorbidity is increasing which makes it difficult to care for them. As recognized by the ministry of health and health experts, teaching palliative...

Words: 1013 - Pages: 5

Ppp in Infrastructure Sector

...project preparation. Accordingly the corpus fund titled India Infrastructure Project Development Fund (IIPDF) has been created in Department of Economic Affairs, Ministry of Finance, Government of India with an initial corpus of Rs. 100 Crore for supporting the development of credible and bankable Public Private Partnership (PPP) projects that can be offered to the private sector. The IIPDF has been created with initial budgetary outlay by the Ministry of Finance, Government of India. The procurement costs of PPPs, and particularly the costs of Transaction Advisors, are significant and often pose a burden on the budget of the Sponsoring Authority. Department of Economic Affairs (DEA) has identified the IIPDF as a mechanism through which Sponsoring Authority will be able to source funding to cover a portion of the PPP transaction costs, thereby reducing the impact of costs related to procurement on their budgets. From the Government of India’s perspective, the IIPDF must increase the quality and quantity of bankable projectsthat are processed through the Central or States project pipeline. The IIPDF will be available to the Sponsoring Authorities for PPP projects for the purpose of meeting the project development costs which may include the expenses incurred by the Sponsoring Authority in respect of feasibility studies, environment impact studies, financial structuring, legal reviews and development of project documentation, including concession agreement, commercial......

Words: 2076 - Pages: 9

Juvenile Implications

...The Implications of Juvenile Criminal Statistics Chanel Walker 11/2/2015 David Purdy Crj/374 University of Phoenix The Implications of Juvenile Criminal Statistics Juvenile Delinquent (n): a minor who cannot be controlled by parental authority and commits antisocial or criminal acts,as vandalism or violence. Any person under the age of 18 is considered to be a juvenile. Fbi uniform crime reporting program is the basis of how data crime statistics are reported, tracked, and observed. Based on the data, the FBI prepares its annual Crime in the United States statistical compilation, which summarizes crimes known to the police and arrests made during the reporting calendar year. This information is used to describe the extent and nature of juvenile crime that comes to the attention of the justice system according to (Charles Puzzanchera,2009) (p.1). This report will summarize the juvenile crime statistics for the year of 2008. This report summarizes the overall decrease in juvenile arrests, and will also discuss the rise and fall of arrests in male, females, and minorities. In addition the assessment of tracking juvenile arrests, as a method of measuring the amount of juvenile crime and trends will be discussed. So strap in your seat belt and be prepared for a plethora of shocking discovery. Federal Bureau of investigations monitors four trend offenses reported by law enforcement agencies which are murder, nonnegligent manslaughter, forcible rape, aggravated......

Words: 1179 - Pages: 5

Implications

...this advancement in technology and help the Students make studying a tad less stress and hassle-free. Students being utilizers of these electronic gadgets and internet, Serve as a great Respondents on this study that focuses on the Implications of using online review materials and electronic gadgets to the Academic Performance of students, specifically the Bachelor of Science in Accountancy students of Mabini Colleges. The Researchers decided to investigate Respondents who utilize electronic gadgets and online review materials. Researchers are interested to know wether these advancements in technology, the electronic gadgets and internet that provides online review materials, helped the respondents be able to increase their academic performance which will be presented in this study as their General weighted Average (GWA). The Proponents of this Study rolled out questions on how does the use of these electronic gadgets and online review materials helped the Respondents improve their academic performance or if it really helped them improve their Grades. The number of times the Students use these electronic gadgets and online review materials will also be a factor in this study. 2. Statement of the Problem This study aims to determine the implications of using online review materials and electronic devices to the academic performance of BSA students in Mabini Colleges. Specifically the researchers aim to answer the following questions: 1. What is the profile of BSA......

Words: 1441 - Pages: 6

Ppp and Project Financing in Logistics Infrastructure

...rather than to the credit ratings of the project sponsors. Historically project finance was widely used in financing transport and logistics infrastructure, like railways or channels. More recently, in the past decades, there has been a new wave of global interest: large amounts of debt have been raised to finance projects like motorways, distriparks, maritime ports, intermodal logistic platforms. These infrastructures are built, owned and operated by special purpose vehicles (SPV), organized for that single project and financed mainly by debt. In many cases, SPVs are not wholly owned by private investors since governments, public authorities and international organizations take equity stakes in them, creating private-public partnerships (PPP). This brief note will not explore all the technical aspects of project finance, that have been extensively covered by academic scholars and practitioners in a wide literature on this subject. The focus here is on a few particular issues, related to the adoption of project financing techniques for transport and logistics infrastructure projects. Therefore the first section highlights the project financing as a tool to avoid a possible market failure in logistic infrastructure industry. The second section illustrates the project financing as an approach potentially capable to exploit the positive externalities, produced by an infrastructure, to enhance the funds available for its financing. Eventually, the third section describes those......

Words: 2318 - Pages: 10

Pricing to Market, Implication and Evidence

...Introduction After the huge resurgence of interest in Purchasing Power Parity in 1982, an increasing number of economists started using new econometric methods, such as cointegration and non-stationary panel methods, to test PPP. Rogoff (1996) had introduced the so-called PPP puzzle in his paper, which concerns the question that ‘how is it possible to reconcile the extremely high short-term volatility of real exchange rates with the glacial rate (15 percent per year) at which deviations from PPP seem to die out?’ (Rogoff, 1996, p. 664). To solve the PPP puzzle, numerous explanations arose including the core of this essay, Pricing to Market. The objective of this essay is threefold: (i) to explore and review the concept of Pricing to Market (PTM), (ii) to illustrate the implications of PTM for Purchasing Power Parity, and (iii) to analyse the empirical evidence of PTM. Initially, I will start with an overview of the concept of PTM in the first part of this essay, then go on to interpret the implications of PTM for the PPP hypothesis in the following paragraph and cover the empirical evidence concerning Pricing to Market in the last section. Main body Pricing to Market as a concept was first introduced by Krugman in 1987 to characterise the phenomenon of imported goods’ prices staying the same or even increasing when the domestic currency appreciates. In other words, it implies that producers are capable of price discriminating among different international markets......

Words: 2254 - Pages: 10

Testing the Validity of Ppp

...results(TPI)……………………………..15 Unit-root and co-integration results(PPI)……………………………..16 Half-life deviations from PPP…………………………………………..17 Forecast performance…………………………………………………...20 6. Robustness……………………………………………………...……………22 7. Conclusion…………………………………………………………………...23 8. References…………………………………………………………………...25 9. Appendix…………………………………………………………………….29 2 1. Introduction The validity of Purchasing Power Parity (PPP) model, which is formalized and developed by Gustav Cassel (1920), is the subject of many empirical researches. PPP theory has long serve as one of the foundation of international economics, helping in determining international prices and setting the conditions under which international markets should adjust to attain a long-run equilibrium. One of its building block is the law of one price, which state that every good that is traded on world markets will sell for the same price in country a and b, when country a and b has common currency. This law of one price will only hold in the absence transportation costs, taxes and tariffs. In other words the nominal exchange rate between two currencies should be equal to the ratio of the aggregate price levels between the two countries, for example one unit of UK pound should have the same purchasing power in the United States. Formally, referred to as the absolute version of PPP, the relative version of PPP implies that a percentage change in the nominal exchange rate should be equal to the inflation......

Words: 10539 - Pages: 43

The Ppp in India

...ppp in education The access to education needs to be considerably improved if we are to catch up with the burgeoning demands from various sectors. Budgetary allocation for education by the central government for both for school education and higher education in 2008-09 amounts to rs.38,703 crores which is an increase of 20 per cent from the the previous year. Combining the government and private expenditure, the total expenditure on education is approximately 5.3 percent of gdp and private sector share works out to be 47 per cent.[15] India ranks 115TH in the world in terms of investment in education as a percentage of gdp. The foundation of good quality education only be laid by sound and widely accessible primary and secondary education. The government can meet the challenges of globalization with political commitment and by maintaining a high level of expenditure in social Sector, especially in the field of education.[16] for quantitative expansion and improvement in quality, educational sector will require large inflow of fresh capital which can not be met from government finances alone. This calls for huge investment in the higher education which the government may not do on its own. Even if the government increases the allocation for higher education upto six per cent of the gdp, there will still be a huge gap in the demand and supply of finances for higher educational institutions. The only way to bridge the yawning gap between the available and required educational...

Words: 584 - Pages: 3