China’s “Triangle of Woes” and Its Impact on Financial Stability

The purpose of this paper is to apply Dean’s (2001) model of the ‘Asian governance triangle’ to assess the symbiosis relationships among the Chinese government finance, state-owned enterprises (SOEs) and the banking system in China. According to Dean, the relationship as a whole is fragile and unhealthy. This is because crises of such character are interdependent and contagious in that crisis in any one corner could readily lead to crises in the others. However, China has so far managed to avoid a financial crisis, which according to Dean (2001), is due to three reasons. Firstly, China remains willing to pour public funds into its SOEs and banks. Partly, as a result, hundreds of millions of ordinary Chinese people keep adding to their bank deposits, which enable the banks to sustain their flow of non-repayable loans to the SOEs. Secondly, China remains shielded from the crisis by its holding of massive foreign exchange reserves. Finally, the financial system is well protected by its exchange and capital controls. However, over the years, a series of reforms of its SOEs and banking system has severed the symbiosis relationships through the introduction of banking and corporate governance in the system. Any disruption of the gradual approach towards the reforms by hastily adopting a f lexible exchange rate and free capital flows would do more harm than benefit China in the long run.China, corporate governance, banking governance, banking reforms, government finance, state-owned enterprises, state-owned banks

Banknæringen i Norge : finanskrisens og bankpakkenes påvirkning på norske banker

Finanskrisen har rammet mange land, Norge er intet unntak. Det er i første omgang det finansielle systemet som vært utsatt for finanskrisens virkninger. Problemstillingen vi vil besvare i denne utredningen er: Hvordan har finanskrisen rammet norske banker og i hvilken grad forventes bankpakkene å ha innvirkning på bankene på kort sikt? Mye informasjon om de norske bankene er tilgjengelig gjennom bankenes egne rapporter og dokumenter. Kvaliteten på informasjonen og formatet på rapportene varierer imidlertid fra bank til bank. Det motiverte oss til å gjennomføre en spørreundersøkelse. Undersøkelsen ble gjennomført blant 91 av 134 banker i Norge. I undersøkelsen fokuserte vi på bankenes økonomiske resultat, utlånstap, tilgang på finansiering, kjernekapitaldekning og utlånspraksis, samt virkning av bankpakke I og II. Konklusjonen på utredningen er at majoriteten av undersøkelsens banker har blitt rammet av finanskrisen. Hovedsakelig har dette skjedd som følge av økte utlånstap og ved at prisen på finansiering har steget. Bankpakke I har tilført bankene likviditet gjennom F-lån og bytteordningen. Bankpakke II har ikke startet tilføring av kjernekapital pr. 15. juni 2009. Et fåtall av bankene forventer at bankpakkene vil føre til en økning i utlånet i 2009

Quantifying the demand-side response capability of industrial plants to participate in power system frequency control schemes

© 2015 IEEE.Efficiency and sustainability considerations have propelled changes in power and process industries. These changes, which include the increased electrification of process industries, are causing concerns about the reliability of future electricity supplies, and therefore motivate the need for a Smart Grid on an industrial scale. This paper presents a method by which process automation engineers can assess the suitability of an oil and gas plant to participate in power system frequency control services. This paper discusses the necessary specifications for an automated system that enables effective variable operation by analysing the safe operating envelope of the plant. To do that, this paper proposes a methodology to characterise the appropriate actuators, variables and limits of set-point change. This methodology is applied to a case study representing an oil processing facility. The resulting analysis indicates demandside response capability that the facility can provide without jeopardising operations on-site

Una vida en la Universidad de Chile: celebrando al profesor Antonio Bascuñán Valdés

Palabras a nombre del Comité Editorial y del equipo de Coordinadores del libro a cargo de Lucas Sierr

Limelight & Indigestion

This thesis chronicles the progression toward and creation of my thesis show, Limelight & Indigestion, as well as the cultural, technological and artistic influences and discussions that underpin the works therein. The show is an exploration of celebrity, mass media, and the nature of the desire for fame. I hope to situate my work through an investigation of topics such as Hollywood and the use of green screens and associated technology, our physical and ideological connection to cinema, the absurd in cinema history, and the complex nature of media digestion

Legislación ambiental chilena en el siglo XIX

El Derecho Ambiental, como disciplina independiente, con sus propias fuentes, sus propios principios y figuras jurídicas es, sin duda, una rama del Derecho de creación reciente, en plena gestación. Sin embargo, sus orígenes, sus primeras manifestaciones son tan antiguas como el Derecho mismo. En efecto, el carácter antropocéntrico y pluridimensional de la ciencia jurídica ha hecho que casi todas las actividades humanas hayan sido objeto de regulación jurídica y de ellas, en una forma muy importante, las relaciones que el hombre, desde el comienzo de su existencia, ha establecido con la naturaleza