Working adults these days, perhaps now more than ever, often feel pressed for time. Time pressure is even more intense for working parents. The persistent sense of too-much–to-do-in-too-little-time has spawned a time management industry that by some accounts has more books and related merchandise available than that targeted at weight loss.The wisdom captured by these materials often boils down to “prioritise and organise”: […]
What the downward revisions of various forecasts (IMF, OECD, OFCE) presented in early autumn 2015 tell us about the Eurozone is not very comforting. A recovery is underway, but it is both sluggish and fragile. The unemployment rate in the Eurozone is still very high (almost 11 per cent of the labour force in the second quarter), and a sluggish recovery […]
International investment has gained popularity in the past two decades. Both the number of international mutual funds and assets under management have increased dramatically. These funds enable households to enjoy the diversification benefits and return opportunities provided by international markets. However, despite their increasing popularity, little is known about their investment behaviours in international financial markets: How do they allocate […]
China is swiftly becoming one of the world’s largest investors, especially in Sub-Saharan Africa, with the biggest investments made in Nigeria, Sudan, South Africa and Angola. In 2012 China was estimated to have a total stock of $531 billion in investments abroad, with four percent of it — $22 billion — in Africa. A small sum at first glance, […]
Almost no economist or financial commentator saw the 2008 crisis coming: next to no one anticipated in early 2009 that recovery would prove so difficult and slow: nobody foresaw that seven years after the crisis, interest rates today would be close to zero in all major advanced economies.
I became chair of the UK Financial Services Authority in September 2008, […]
The option of Britain leaving the European Union sounds superficially attractive. Who doesn’t like the idea of freedom and independence? But it isn’t as simple. In fact, Britain needs Europe a lot more than Europe needs Britain. Isolation is costly.
Look at international trade. The British economy is heavily exposed to the European Union. The EU is by a mile […]
There is an emerging consensus among academics, international agencies, and businesses that the 21st century is the African century. Democratic processes in the first decade of this century seemed to provide political stability, and resulted in not only advocacy for investments but also an increasing surge of multinational organizations into African countries. As a result, businesses, typified by multinational […]
Human capital is getting much more attention lately. The Conference Board’s 2014 survey of global CEO challenges ranked human capital issues as the number one challenge. In our work, we have found that the leadership profile of successful CEOs matches the leadership profile of effective Chief Human Resources Officers (CHROs), that HR issues are increasingly a part of firm […]
Many of us spend much of our time in meetings and at conferences. But too often these waste time and fail to make the most of those present.The meeting formats we use today are very old. Board meetings, assembly meetings and conferences have not changed for many hundreds of years. Newer methods include boards surrounded by screens with data, […]
The Basel Committee on Banking Supervision (BCBS) has designed complex rules for defining sufficient capital at internationally active financial institutions. Pillar II of the Basel Accord requires national supervisors to assure continuous compliance with capital standards, which require a minimum ratio of the book value of equity capital to a bank’s risky assets. An adequate Tier 1 capital ratio […]
The Courage To Act: A Memoir of a Crisis and its Aftermath. Ben S. Bernanke. W. W. Norton and Company. 2015.
In 1913, the United States Congress established the Federal Reserve System through the Federal Reserve Act, which was signed into law by then President Woodrow Wilson. The Act purported to provide a means of responding to different stress points […]