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David Schweickart - One of the best experts on this subject based on the ideXlab platform.
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Worker Self-Management: An Alternative to Wage-Labor in the History of Economic Thought, by Zhang Jiaxin
World Review of Political Economy, 2013Co-Authors: David SchweickartAbstract:WORKER SELF-MANAGEMENT: AN ALTERNATIVE TO WAGE-LABOR IN THE HISTORY OF ECONOMIC THOUGHT, BY ZHANG JIAXIN Worker Self-Management: An Alternative to Wage-Labor in the History of EconomicThought (in Chinese), by Zhang Jiaxin, Beijing, Social Sciences Academic Press, 2013, vi + 262 pp., ¥58 (paperback), ISBN 9787509743225President Tito paced up and down as though completely wrapped in his own thoughts. Suddenly, he stopped and exclaimed, "Factories belonging to workers- something that has never been achieved!" (Djilas 1969, 1).In 1950, Yugoslavia embarked on an historic experiment, a form of market socialism featuring "worker-self-management." For three decades, the results were impressive. Between 1952 and 1960, Yugoslavia recorded the highest growth rate of any country in the world. For the period 1960-80, Yugoslavia ranked third in growth per capita among low- and middle-income countries. In 1950, Yugoslavia was-as it had been since its creation in 1918-a poor, underdeveloped country. By 1980, Yugoslavia had attained a standard of living approximately two-thirds that of Italy. Even Harold Lydall, a major critic of the Yugoslav experiment, writing in 1984, concedes that "Yugoslavia, under its system of 'socialist self- management,' has achieved a high rate of economic growth of both output and consumption. The average standard of living has changed all out of recognition in the past thirty-five years" (Lydall 1984, 183).Of course, Tito was wrong about "factories belonging to workers" being something never having been achieved before-although never before had there been an attempt to make worker-self-management a core feature of an entire economy. As Zhang Jiaxin points out, the "Rochdale Pioneers" set up a worker-owned Cooperative in 1844, seeing it as a prototype for a new form of economic organization. Marx himself, in his 1864 "Inaugural Address to the Working Men's International Association," praised "the Cooperative factories raised by the unassisted efforts of a few bold hands, the value of which cannot be over-rated," for "they have shown that production on a large scale, in accord with the behests of modern science, may be carried on without the existence of a class of masters employing a class of hands."In 1956, another historic experiment began. In the town of Mondragon, in the Basque region of Spain, a Catholic priest, Don Jose Arizmendiarieta-the "Red priest," as he was called in local conservative circles-persuaded five of his former students, who had become professional engineers, and 18 other workers, to set up a Cooperative factory to manufacture small cookers and stoves. In 1959, again at the priest's instigation, a Cooperative Bank was formed, with a mission to promote Cooperatives in the region. By 1980, there were 70 Cooperatives in the Mondragon group, engaging 15,000 worker-owners.Academic interest in worker-self-management also began in the 1950s and developed rapidly throughout the next three decades. Real-world experiments were underway. Economic theory had to catch up. The first theoretical model of a worker-self-managed economy was published by Benjamin Ward in 1958. Controversies and refinements ensued, engaging, among others, the Nobel-laureate economist James Meade. These important debates and developments are explored in this volume.But then came "the collapse of communism," first in Eastern Europe, then the Soviet Union, followed by the break-up of Yugoslavia (which, as even Lydall admits, had nothing to do with worker self-management). Prominent Western academics declared "the End of History"-the final triumph of liberal capitalism and representative, multi-party democracy. (China was seen to be, whatever its protestations to the contrary, an emerging capitalist country that would soon enough adopt a "normal" political system.) By the end of the 1990s, neoconservative intellectuals and politicians were confidently proclaiming "A New American Century." Interest in worker-self-management evaporated, at least in "respectable" circles. …
Adriana Paolantonio - One of the best experts on this subject based on the ideXlab platform.
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the Cooperative Bank difference before and after the global financial crisis
Journal of International Money and Finance, 2016Co-Authors: Leonardo Becchetti, Rocco Ciciretti, Adriana PaolantonioAbstract:Abstract We compare characteristics of the Banks' specialization (Cooperative versus non-Cooperative) at the world level in a time spell including the global financial crisis. Cooperative Banks display higher net loans/total assets ratios, lower shares of derivatives over total assets and lower earning volatility than commercial Banks. With a diff-in-diff approach we test whether the global financial crisis produced convergence/divergence in these indicators. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with value added growth in some manufacturing sectors but not in others.
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the Cooperative Bank difference before and after the global financial crisis
CEIS Research Paper, 2015Co-Authors: Leonardo Becchetti, Rocco Ciciretti, Adriana PaolantonioAbstract:We compare characteristics of the Banks’ specialization (Cooperative versus non-Cooperative) at world level in a time spell including the global financial crisis. Cooperative Banks display higher net loans/total assets ratios, lower shares of derivatives over total assets and lower earning volatility than commercial Banks. With a diff-in-diff approach we test whether the global financial crisis produced convergence/divergence in these indicators. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with value added growth in some manufacturing sectors but not in others.
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Is There a Cooperative Bank Difference
2014Co-Authors: Leonardo Becchetti, Rocco Ciciretti, Adriana PaolantonioAbstract:We compare characteristics of Cooperative and non Cooperative Banks at world level in a time spell including the global financial crisis. Cooperative Banks have higher net loans/total assets ratio, lower income from non traditional activities and lower shares of derivatives over total assets than non Cooperative Banks. From an econometric point of view, we find that the Cooperative Bank specialization has a positive and significant effect on the net loans/total assets ratio in the overall sample period and in the post financial crisis subperiod. Derivatives (both in terms of assets and revenues) have a quantitatively strong and significant negative effect on the same dependent variable during both time spells. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with the value added growth of the manufacturing sector with the exception of the two extremes of self-financing sectors and sectors in high need of external finance.
Leonardo Becchetti - One of the best experts on this subject based on the ideXlab platform.
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the Cooperative Bank difference before and after the global financial crisis
Journal of International Money and Finance, 2016Co-Authors: Leonardo Becchetti, Rocco Ciciretti, Adriana PaolantonioAbstract:Abstract We compare characteristics of the Banks' specialization (Cooperative versus non-Cooperative) at the world level in a time spell including the global financial crisis. Cooperative Banks display higher net loans/total assets ratios, lower shares of derivatives over total assets and lower earning volatility than commercial Banks. With a diff-in-diff approach we test whether the global financial crisis produced convergence/divergence in these indicators. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with value added growth in some manufacturing sectors but not in others.
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the Cooperative Bank difference before and after the global financial crisis
CEIS Research Paper, 2015Co-Authors: Leonardo Becchetti, Rocco Ciciretti, Adriana PaolantonioAbstract:We compare characteristics of the Banks’ specialization (Cooperative versus non-Cooperative) at world level in a time spell including the global financial crisis. Cooperative Banks display higher net loans/total assets ratios, lower shares of derivatives over total assets and lower earning volatility than commercial Banks. With a diff-in-diff approach we test whether the global financial crisis produced convergence/divergence in these indicators. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with value added growth in some manufacturing sectors but not in others.
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Is There a Cooperative Bank Difference
2014Co-Authors: Leonardo Becchetti, Rocco Ciciretti, Adriana PaolantonioAbstract:We compare characteristics of Cooperative and non Cooperative Banks at world level in a time spell including the global financial crisis. Cooperative Banks have higher net loans/total assets ratio, lower income from non traditional activities and lower shares of derivatives over total assets than non Cooperative Banks. From an econometric point of view, we find that the Cooperative Bank specialization has a positive and significant effect on the net loans/total assets ratio in the overall sample period and in the post financial crisis subperiod. Derivatives (both in terms of assets and revenues) have a quantitatively strong and significant negative effect on the same dependent variable during both time spells. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with the value added growth of the manufacturing sector with the exception of the two extremes of self-financing sectors and sectors in high need of external finance.
Manjusha S Kadam - One of the best experts on this subject based on the ideXlab platform.
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disaster recovery plan drp and business continuity plan bcp for financial Cooperatives in new market economy
Social Science Research Network, 2017Co-Authors: Manjusha S KadamAbstract:A large Banking institutions based in India initiated an IT solution that provide link to data redundancy towards large customer base. As per Reserve Bank of India Department of Banking Supervision, Central Office, Mumbai has guidelines on information security, Electronic Banking, Technology risk management, Disaster Recovery Plan (DRP) and Business Continuity Plan (BCP). The Banks must have prevention programme to reduce the likelihood that Banks operation will be significantly affected by a pandemic event for which the Banks need to setup disaster avoidance, disaster recovery committee at branch level. The main objective of this research paper is to observe whether the particular Cooperative Bank has any effective Disaster Management System with reference to Disaster Avoidance, Disaster Recovery Plan (DRP) and Business Continuity Plan (BCP) as per RBI guidelines and other international standards. This was pursued by conducting structured interview of branch head of the The Vishweshwar Sahakari Bank Ltd., Pune, Maharashtra, India. The researcher with the help of a questionnaire inquired from the branch head of The Vishweshwar Sahakari Bank Ltd., Pune and compared the responses with the desired state using GAP Analysis Worksheet. The study reflected that the selected Bank in this research, backup its data at a Remote offsite location, have a BCP/DRP Plan available with them on software but they do not apply Disaster Management System as per RBI - “Guidelines on information security, Electronic Banking, Technology risk management and cyber frauds” and other international standards. The study concludes by providing recommendations to the Indian Banks.
R.k. Dhaliwal - One of the best experts on this subject based on the ideXlab platform.
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Status of agricultural insurance as a risk mitigation strategy for climate change in Punjab
Journal of research, 2012Co-Authors: Lopamudra Mohapatra, R.k. DhaliwalAbstract:Agricultural insurance is one of the institutional risk mitigation strategies for climate change. So, keeping in view the importance of this, the status of Crop and Livestock Insurance in Punjab has been studied with respect to different aspects such as type of farmers covered under these schemes, subsidy provided, type of crops and animals covered, premium etc. The major private players for crop insurance in Punjab were IFFCO-TOKIO General Insurance Company and ICICI Lombard. About 15.83 per cent of the respondents availed both the crop and livestock insurance, while 59.17 per cent of the respondents have availed the livestock insurance only. Out of the insured farmers 96.67 per cent of the respondents had insured their crop and availed personal insurance from IFFCO – TOKIO General Insurance Company (ITGI). Cooperative Bank was the service provider for all the respondents availing livestock insurance. All the respondents were satisfied with the premium rate for the livestock insurance and 75.56 per cent of the respondents availed the three year policy for the livestock.