The Intellectual and Genocide

Danielsson, Sarah K.

doi:10.1007/978-1-349-66019-3_40

Cited by 15 publications

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“…The two standardized approaches have highlighted concerns about the ability of risk-rating agencies to provide meaningful assessments of bank risk. 2 The two IRB approaches rely heavily on value-at-risk (VaR) models that only provide point estimates of the loss distribution, leaving substantial room for so-called spike-the-firm events involving high losses with low probability. 3 Regulatory arbitrage could also occur across banks adopting different approaches (for example, the standardized versus IRB approaches).…”

Section: Philip Brockmentioning

confidence: 99%

“…2 The two IRB approaches rely heavily on value-at-risk (VaR) models that only provide point estimates of the loss distribution, leaving substantial room for so-called spike-the-firm events involving high losses with low probability. 3 Regulatory arbitrage could also occur across banks adopting different approaches (for example, the standardized versus IRB approaches). 4 Majnoni and Powell's paper centers on the adaptation of Basel II to Latin American financial systems.…”

Section: Philip Brockmentioning

confidence: 99%

“…They also conclude that the foundation IRB approach is, notwithstanding its benevolent risk calibration, likely to set higher capital requirements than the existing 8 percent under Basel I. 2 While the methodology employed by the authors has its advantages, the data limitations and the short period chosen for the estimations (issues that are acknowledged in the paper) make it premature to categorically conclude that the Basel II models need to be recalibrated. Only after many years of experience and collection of quality data would it be possible to quantify those default rates and value-at-risk levels appropriately and, incidentally, reduce the procyclicality inherent to all approaches based on empirical estimations (even those using bootstrapping).…”

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Correa¹,

Brock²

2005

Economía

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Patricia Correa: Endless pages have been written on the potential flaws that could prevent Basel II from achieving the ultimate goal of increasing financial stability worldwide by improving bank risk management and making capital requirements more sensitive to risk. Criticisms, which are sometimes contradictory, can be grouped into five categories. First, the new accord offers alternative approaches for measuring capital requirements (two versions of the standardized approach and two of the internal ratingsbased, or IRB, approach), but it does not create proper incentives to use the most risk-sensitive approach, thereby opening the door for arbitrage. Second, in countries with little capital market and financial development, reliable external ratings are not available for most of the assets in the banks' credit portfolio; in such cases, the standardized approach will do little to link better capital to risk and would be, at best, a poor substitute to Basel I. Third, Basel II relies heavily on methodologies that lead to capital requirements that tend to accentuate the cycle, which can eventually increase, rather than diminish, financial instability. Whether this flaw can be attributed to the methodologies themselves or to the length of the databases employed to make the respective estimates is a controversial issue, but this topic is certainly an important one in the discussion. Fourth, the new framework will most probably increase the amount of minimum regulatory capital regardless of the measurement methodology chosen, and many banks, particularly in emerging economies, are simply not ready to meet the additional capital requirement. Finally, regulatory and supervisory bodies in most emerging economies are not prepared to meet the challenges posed under the second pillar of the accord, owing to lack of infrastructure, inadequate human capital, and so forth.Majnoni and Powell's paper represents an important contribution to the understanding of the potential impact of Basel II on emerging economies and sheds light on the validity or relevance of the aforementioned criticisms. The authors' contribution is particularly valuable in two aspects: it

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Section: Philip Brockmentioning

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Correa¹,

Brock²

2005

Economía

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The Rise and Return of the Indo-Pacific

Rumley¹,

Doyle²

2019

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In the twenty-first century, the Indo-Pacific region has become the new centre of the world. The concept of the ‘Indo-Pacific’’, though still under construction, is a potentially pivotal site, where various institutions and intellectuals of statecraft are seeking common ground on which to anchor new regional coalitions, alliances, and allies to better serve their respective national agendas. This book explores the Indo-Pacific as an ambiguous and hotly contested regional security construction. It critically examines the major drivers behind the revival of classical geopolitical concepts and their deployment through different national lenses. The book also analyses the presence of India and the US in the Indo-Pacific, and the manner in which China has reacted to their positions in the Indo-Pacific to date. It suggests that national constructions of the Indo-Pacific region are more informed by domestic political realities, anti-Chinese bigotries, distinctive properties of twenty-first century US hegemony, and narrow nation-statist sentiments rather than genuine pan-regional aspirations. The book argues that the spouting of contested depictions of the Indo-Pacific region depend on the fixed geostrategic lenses of nation-states, but what is also important is the re-emergence of older ideas—a classical conceptual revival—based on early to mid-twentieth century geopolitical ideas in many of these countries. The book deliberately raises the issue of the sea and constructions of ‘nature’, as these symbols are indispensable parts of many of these Indo-Pacific regional narratives.

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Doyle,

Rumley

2019

The Rise and Return of the Indo-Pacific

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The Intellectual and Genocide

Cited by 15 publications

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The Rise and Return of the Indo-Pacific

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