Deposit Insurance,Institutions, and Bank Interest Rates

Many recent institutional reforms of the financial system have relied on the introduction of an explicit scheme of deposit insurance. This instrument aims at two main targets, contributing to systemic stability and protecting depositors. However, it may also affect the interest rate spread in the banking system, which can be viewed as an indicator of either inefficiency or market power in this financial segment. This paper provides an empirical investigation of the effect of deposit insurance and other institutional and economic variables on bank interest rates across countries. We find that deposit insurance increases the lending–deposit spread in banking. The main effect seems to arise not from the deposit side though, but from an increase in the lending rate. We interpret this result as evidence of the presence of moral hazard problems related to this instrument. We also find that higher quality of institutions is associated with lower spreads, thus contributing to eroding sources of market power in the banking sector.     

Economic,Financial and Geopolitical Governance: USA,European Union and China

The paper examines the policies, choices, structural reforms, regulatory rules, corporate and public administration matching the world standards, openness, innovation, competitiveness, fulfillment of multilateral obligations, integration and regional approach achievements and international relations conditionality in the “Global Governance and Geopolitics” of the main economic, financial and policy issues, with special focus on the new regional approaches pursued by America, the European Union and Asia and the role of the emerging and transition countries. After the US Dollar, now the Eurozone is under pressure and the main Asian countries fear a contagion effect. While somebody proposes a slow devaluation of the Euro in order to soften the public deficits of the group of most exposed countries and restore more competitiveness to the real economy, political leaders are thinking to adopt indirectly the Euro two speeds operative monetary strategy, through the introduction of the majority vote, instead of the full Members consensus, for the most important decisions at the ECB in Frankfurt. Aside these monetary and institutional measures, the binding of the single national fiscal policy to more strict EU parameters of compatibility with the Eurozone sustainability appear unavoidable. This paper represents the background of my lecture given on November 4 at the Beijing Forum 2011 “The Harmony of Civilizations and Prosperity for All: Tradition and Modernity, Transition and Transformation” () at the PEK University.     

Predicting Follow‐up Outcomes in Emotionally Focused Couple Therapy: The Role of Change in Trust,Relationship‐Specific Attachment,and Emotional Engagement

Emotionally Focused Couple Therapy (EFT), an evidence‐based couple therapy (Johnson, Hunsley, Greenberg, & Schindler, 1999), strives to foster lasting change through the creation of secure attachment bonds in distressed couples. Although studies have demonstrated lasting change in follow‐up (Wiebe et al., in press), research is needed to investigate predictors of long‐term outcomes. Our goal was to investigate predictors of long‐term outcomes in relationship satisfaction. Relationship satisfaction was assessed across 24 months in a sample of 32 couples who received an average of 21 EFT sessions. Decreases in attachment avoidance were most predictive of higher relationship satisfaction across follow‐up. These findings support the theoretical assumption that EFT helps couples foster lasting change in relationship satisfaction through the facilitation of secure attachment bonds.     

Ranking Nursing Homes’ Performances Through a Latent Markov Model with Fixed and Random Effects

Social Indicators Research - In this paper, we aim at ranking a set of nursing homes based on their ability in maintaining their residents’ physical conditions as good as possible. In this...     

Strategic planning and research and development—Can we integrate them?

The main problem affecting the R & D function has always been caused by its lack of integration with the enterprise. Such a problem makes it difficult to pass from invention to innovation—that is, to turn the invention into processes and products to be exchanged on the market. The author points out the main social and organizational problems which prevent R & D from entering the ‘circulatory system’ of the enterprise. The identification of such problems is important in order to set up and to implement innovative strategies. This is the first of two articles by Professor Petroni on this subject. The second article will appear in April 1983.     

Europe and the Euro: Do not Indulge in Misinterpreting Strength as Weakness

The change was not only promised during Obama’s electoral campaign but urgently invoked by all the major international actors in view of the financial and economic crises: the world foreign policy has suddenly entered a new age not being yet prepared to govern globalization and its wide interdependence conditionality. Even Russia has changed tune now and President Medvedev announced vigorously a new strategy, a new policy, and a new drive for Russia. Until a few years ago, the theories of International Relations were simply an American intellectual and governance exit of the growing role of the US in the world, a kind of field of competence for the greatest power in the global economic, political, strategic and innovative sectors. The British School was an island of the core American thinking and the rest of the world mostly absent. FSU has not expressed a relevant contribution to the various schools of thinking related to the IR theories and even the Marxist political scientists did not dedicate specifically to this main research area because convinced that first it was not a real “science” but a derivative outcome from Philosophy or Political Science; secondly, for the reason of the monopoly of the power in the hands of an autocratic regime where these issues were not left to the researchers and experts but only to the institutional and military leadership. Today Russia—after having caressed and found opportunistically convenient to resume the realism doctrines of the past US almost decennial Presidency, with modest attempts to assume the great changes in international affairs intervened— has the chance to take the last train for a competitive power role, “de facto” under the unavoidable strict rules of engagement of the global governance. In the 2020–2030 the world would be completely reshape by the present metamorphosis.     

The Influence of Organizational Culture in Women Participation and Inclusion in Voluntary Organizations in Italy

The aim of this study is to analyze the rules whereby women are selected for leadership and management roles and to describe the cultural values that can foster their inclusion and participation in Italian Voluntary Organizations. Two hypotheses: the organizational culture that governs these organizations is necessarily oriented toward acceptance, involvement and participation, and the rules and setting must be flexible and inclusive of all members in order to enable each organization to survive. Methodology was based on 91 semi-structured interviews. Findings indicate that Italian Voluntary Organizations must necessarily embrace an organizational culture whose rules and norms are oriented toward attracting men and women to join and encouraging them to participate. Implications for for-profit organizations are also discussed.