Suchergebnisse

The scientific approach presented in this article is based on the understandingof social capital and corporate culture as intersecting organizational phenomenahowever irreducible to each other. At the same time corporate culture is understoodinstrumentally and it is considered as a factor in the social capital formation, development and using process mediating its organizational and managerial effects. This doesnot negate the fact of complex iterative relations between them but allows to place theemphasis correctly both theoretical and practical, emphasizing the more fundamentaland comprehensive nature of social capital directly arising from the laws of socialinteraction and developing regardless of the purposeful management efforts to form asingle corporate culture.The analysis of various studies of social capital in Russia and abroad characterizingthe level of generalized trust in Russia as low and noting the multidirectional dynamicsbetween different types of social capital which are not typical for developed countries.These differences are interpreted in terms of differences in social relations types underlyingsocial capital: affiliation, hierarchy and exchange. From this point of view the high levelof declared institutional trust (with a certain degree of assumption) can be interpreted asa manifestation of the rational ("calculation") mechanism of social capital constructionin modern Russian society. The conclusion about insufficient account in foreign scientistsof social, cultural and spiritual components researches is made.The analysis of the problems that have a negative impact on modern Russian societyin the process of social capital formation at the micro, meso- and macrolevels is made.The main problems are the lack of social unity and the spread of the Russian version ofindividualism associated with severe problems of survival and increasing the level ofinterpersonal and institutional distrust.

Intro -- Contents -- Preface -- 1. Introduction -- Part I: External Debt -- 2. Macroeconomic Approach to External Debt: The Case of Nigeria -- 3. Ghana: The Burden of Debt-Service Payment Under Structural Adjustment -- 4. Growth and Foreign Debt: The Ugandan Experience -- 5. The External Debt Problem of Kenya -- 6. An Econometric Analysis of External Debt and Economic Growth in Sub-Saharan African Countries -- Part II: Capital Flight -- 7. Capital Flight and External Debt in Nigeria -- 8. Capital Flight from Uganda, 1997-94 -- 9. Capital Flight from Tanzania -- 10. Capital Flight in Kenya -- Contributors.

"This dictionary is designed to provide a useful, reliable, readable and single source guide to the all-important field of capital market."--page v

The new European Commission has signalled that it will work to create a 'capital markets union'. This is understood as an agenda to expand the non-bank part of Europe's financial system, which is currently underdeveloped. The aim in the short term is to unlock credit provision as banks are deleveraging, and in the longer term, to favour a more diverse, competitive and resilient financial system. Direct regulation of individual non-bank market segments (such as securitisation, private placements or private equity) might be useful at the margin, but will not per se lead to significant capital markets development or the rebalancing of Europe's financial system away from the current dominance by banks. To reach these goals, the capital markets union agenda must be broadened to address the framework conditions for the development of individual market segments. Six possible areas for policy initiative are, in increasing order of potential impact and political difficulty: 1.regulation of securities and specific forms of intermediation; 2.prudential regulation, especially of insurance companies and pension funds; 3.regulation of accounting, auditing and financial transparency requirements that apply to companies that seek external finance; 4.a supervisory framework for financial infrastructure firms, such as central counterparties, that supports market integration; 5.partial harmonisation and improvement of insolvency and corporate restructuring frameworks;and 6.partial harmonisation or convergence of tax policies that specifically affect financial investment.

Papers presented at the 3rd Capital Markets Conference, held at Navi Mumbai during 23-24 December 1999