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Journal articles on the topic 'Foreign exchange – Germany'
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1
Gehrig, Sebastian. "Informal Cold War Envoys: West German and East German Cultural Diplomacy in East Asia." Journal of Cold War Studies 24, no. 4 (2022): 112–56. http://dx.doi.org/10.1162/jcws_a_01092.
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Abstract The bifurcation of Germany during the Cold War induced the two German states to compete around the world over German cultural sovereignty, as they offered rival conceptions of what it meant to be German. The contest over this matter was fueled not only by the division of Germany but also by the military occupation. With restrictions imposed on both governments in their foreign policy activities during the early Cold War, foreign cultural diplomacy (auswärtige Kulturpolitik), a form of proxy diplomacy developed in the interwar period, became a crucial means of forging ties with countries outside Europe. This article traces how the two German governments sent language teachers, artists, academics, musicians, and exchange students to Asia as cultural ambassadors in a bid to reestablish a German presence. Divided countries along the Bamboo Curtain, especially the People's Republic of China, became the most important battlegrounds in the competition for hegemony in representing Germany in Asia. The need to engage in foreign cultural diplomacy also brought Asian ideological conflicts home to Germany. Exchange visitors and their governments tried to achieve their own interests by steering a middle course between the two German states. Foreign cultural diplomacy thus was an essential—and complicated—part of “soft power” for both German governments in trying to win over foreign audiences.
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Barinov, Eduard. "Exchanges of foreign countries." Scientific notes of the Russian academy of entrepreneurship 19, no. 2 (May 28, 2020): 90–99. http://dx.doi.org/10.24182/2073-6258-2020-19-2-90-99.
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The article deals with exchanges of a number of foreign countries. The changes that have taken place in this segment of the financial market over the past decades are noted. Data on exchanges in the United States, Great Britain, Canada, Germany, Japan, China and other countries are provided. The mechanism of placement of securities on the exchange market is described.
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Shi, Fangjun. "A Preliminary Research on the Art Exchange Activities Between China and the GDR from 1949 to 1989." Studies in Art and Architecture 1, no. 1 (December 2022): 20–25. http://dx.doi.org/10.56397/saa.2022.12.04.
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After the end of the Second World War, Germany was divided into two parts. The political, economic, cultural, and artistic policies implemented by the German Democratic Republic (also known as East Germany), dominated by socialist ideology, followed the pace of the Soviet Union. At the beginning of the founding of the People’s Republic of China, it maintained friendly and cooperative relations with Eastern European countries such as the GDR. It organized a variety of exchange activities at the cultural level. From the perspective of the sociology of art, this paper discusses the foreign exchange strategies of the founding of China and the Eastern European countries that were also socialist camps, especially the art development of the GDR. At the same time, it sorts out the art exchange activities and interactive trajectories between China and the GDR from 1949 to 1989, thus deepening the understanding of cultural exchanges with foreign countries during the construction of China.
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Satbergenova, A. K., A. B. Kongyrbayeva, and K. K. Rymkulov. "Foreign exchange of experience on the way of perfecting knowledge." Geodesy and Cartography 945, no. 3 (April 20, 2019): 57–64. http://dx.doi.org/10.22389/0016-7126-2019-945-3-57-64.
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15 undergraduates’ study tour to DAAD – German Academic Exchange Service in search of new knowledge under the guidance of A. Satbergenova is considered. This article is devoted to the study of experience in the field of geodesy, geoinformatics, land management technologies, geotechnics, recycling household waste, development and implementation in everyday life. The authors tell about visiting cities, universities and mining facilities that the undergraduates saw in Germany. Arranging foreign trips has a positive impact on the results of undergraduates and doctors, promotes the development of collective cooperation, causes a desire to make research and development in local universities, stimulates increasing the level of mastering foreign languages and strengthens patriotic feelings for the Motherland. All participants of the trip express their gratitude to the German Academic Exchange Service – DAAD, as well as to all the leaders who provided the assistance and support in organizing valuable scientific, educational and cultural visit to Germany.
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Kraft, Gerhard, and Sigrid Zielinski. "Like-kind Exchanges Pursuant to Section 1031 Internal Revenue Code and their Consequences under German CFC-rules." Intertax 41, Issue 3 (March 1, 2013): 153–58. http://dx.doi.org/10.54648/taxi2013013.
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On the basis of sound economic reasoning, numerous tax systems have provisions that allow for tax-free exchanges of like-kind property. When the property is sold after the exchange the gain will usually be taxed so that it is in fact not a tax-free exchange but rather a deferral of taxation until the sale of the property. After a brief overview of the basic like-kind exchange rules under the US Internal Revenue Code (IRC) and the basic concepts of the German Controlled Foreign Corporations (CFC-) rules, this article discusses the possible consequences of a like-kind exchange of US property by a US corporation, owned and controlled by shareholders resident in Germany under German CFC-rules. As a few examples will demonstrate, a like-kind exchange under US law could - if certain conditions are met - lead to the application of German CFC-rules thereby reversing the non-recognition event. In these instances, German CFC legislation overreaches the basic purpose of CFC-rules - to prevent or reduce abuse and designs for tax evasions.
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Oberlechner, Thomas. "Evaluation of Currencies in the Foreign Exchange Market: Attitudes and Expectations of Foreign Exchange Traders." Zeitschrift für Sozialpsychologie 32, no. 3 (September 2001): 180–88. http://dx.doi.org/10.1024//0044-3514.32.3.180.
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Summary: This article examines whether there is a connection between the attitudes of traders in the foreign exchange market and their expectations of future exchange rate developments. A psychological understanding of expectations is contrasted to the prevailing economic view of rational expectations. Findings are based on a questionnaire survey of 321 foreign exchange traders in Austria, Germany, Switzerland, and the UK. Factor analyses of semantic differential ratings of currencies result in three main factors on which currencies are evaluated. Foreign exchange traders of smaller countries (Austria, Switzerland) evaluate their home currency more positively than do other traders. Positive attitudes toward a currency correlate with expectations of currency appreciation. Social Identity Theory helps to explain the observed differences in evaluations of domestic currencies. In order to better understand financial markets, the economic assumption that expectations of market participants are unbiased and rational has to be replaced by a psychology of human market expectations.
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Rustamova, L. R. "THE DEFINING FEATURES OF SOFT POWER STRATEGY IN GERMAN FOREIGN POLICY." MGIMO Review of International Relations, no. 1(46) (February 28, 2016): 118–28. http://dx.doi.org/10.24833/2071-8160-2016-1-46-118-128.
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The defeat in the Second World War made Germany very carefully select the foreign policy concepts, which is still actual for the country. Until now, any political idea, even an indirect indication to the desire to establish German hegemony, could cause the deterioration of relations with partners in the EU and other neighboring countries. In these circumstances, Germany has chosen as the most appropriate foreign policy strategy for the promotion of the national interests the use of so-called "soft power" - the ability to encourage others to do what you want with the help of appeal, rather than through the manipulation of material needs. Germany has a large number of resources to implement the policy of "soft power." The German non-governmental organizations, political foundations are making a great contribution to make foreign policy attractive and spread political values. Organizations involved in exchange programs, scientific cooperation contribute to the expansion of German language and culture. A distinctive feature of German "soft power" organizations is that, despite the financing from the state, they retain the civilian nature of their activities, which is a necessary condition for the successful application of the concept. Another feature of German "soft power" is that its resources are directed not only at foreign audiences, but also German citizens. The key tasks of German soft power concept are to build a positive image of the country, to change its international legal status and to play the leading role in the EU.
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Welch, David. "Citizenship and Politics: The Legacy of Wilton Park for Post-War Reconstruction." Contemporary European History 6, no. 2 (July 1997): 209–18. http://dx.doi.org/10.1017/s0960777300004537.
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Writing in 1965 in Britain Looks to Germany, Donald Cameron Watt concluded:Perhaps the biggest successes scored by the Education Branch lay in the programme of exchange visits at all levels, in the discovery and encouragement of a new generation of teachers in Germany.…and most imaginatively of all in the opening up of the Wilton Park Centre to which leaders of opinion in Germany came for short residential courses on British democratic practice. Politicians, journalists, teachers, academics, trades unionists mingle together in these courses, and so valuable did the centre appear to German opinion that it was German initiative and German financial contribution which helped to preserve it in its present form when a niggardly Treasury and a disastrously unimaginative Foreign Secretary threatened to abolish it. Its impact on German life and on the political elites of West Germany has been incalculable.
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Arize, Augustine C., Charles J. Berendt, Giuliana Campanelli Andreopoulos, Ioannis N. Kallianiotis, and John Malindretos. "Foreign Currency Prognostication: Diverse Tests for Germany." International Journal of Financial Research 8, no. 3 (June 12, 2017): 111. http://dx.doi.org/10.5430/ijfr.v8n3p111.
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This paper uses a large variety of different models and examines the predictive performance of these exchange rate models by applying parametric and non-parametric techniques. For forecasting, we will choose that predictor with the smallest root mean square forecast error (RMSE). The results show that the better models are in equations (3), (10), (17), and (18), although none gives a perfect forecast. At the end, error correction versions of the models will be fit so that plausible long-run elasticities can be imposed on the fundamental variables of each model.
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Gruber, Alice, and Angela C. Bailey. "Examining EFL students’ pluricultural and plurilingual development during intercultural virtual exchanges between Colombia and Germany." Global Journal of Foreign Language Teaching 11, no. 1 (February 24, 2021): 14–29. http://dx.doi.org/10.18844/gjflt.v11i1.5148.
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This study examined intermediate students English as a foreign language (EFL) perception of their plurilingual and pluricultural competence, via online interaction and mediation through a virtual exchange project. Virtual exchanges are a means for inter- and intracultural development, language proficiency, and personal growth and transformation. Results of pre- and post-project questionnaires, as well as surveys, show shifts in cultural knowledge construction, adaptation to novel social co-participation situations, and recognition of the need for cultural awareness. Pedagogical implications for both the classroom and the implementation of virtual exchange projects are discussed.
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CLEMENT, PIET. "‘The touchstone of German credit’: Nazi Germany and the service of the Dawes and Young Loans." Financial History Review 11, no. 1 (April 2004): 33–50. http://dx.doi.org/10.1017/s0968565004000034.
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This article examines the Nazi government's external debt policy, with particular regard to the service of the Dawes and Young Loans, the two most important international loans Germany concluded during the interwar period. The goal of this policy was to end once and for all the obligations resulting from the First World War reparations settlement, and at the same time to economise drastically on Germany's scarce foreign exchange reserves. These aims were achieved by imposing a partial default on external debts and by bilateralising trade and financial negotiations, thus dismantling the 1930 Young Plan. In many respects, the Nazi government continued policies in place since 1931, except that it went further and was more ruthless in their execution. However, the negative long-term effects of this policy were beginning to take their toll as Germany's economy was cut off from the international financial markets and increasingly burdened by complex foreign exchange regulations. It was left to the German Federal Republic to deal with the financial legacy of this policy after the war.
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Golitsyn, Yu P., and A. S. Sokolov. "German Bank of Soviet Russia (Activity of the German-Volga Bank of Agricultural Credit in the 1920s)." Modern History of Russia 11, no. 3 (2021): 638–53. http://dx.doi.org/10.21638/11701/spbu24.2021.305.
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The transition of Soviet Russia from “war communism” to a new economic policy required the restoration of commodity-money exchange, the financial and tax system, credit and other market institutions. The need for rapid recovery and development of all branches of the national economy predetermined a certain departure from the “communist” views on banking and in the early 1920s. in the country, along with the State Bank, special banks appeared. These banks, being under the control of the relevant economic commissariats, ensured the implementation of the necessary financial and credit policy in this branch of the national economy. The article examines the activity of the German-Volga Agricultural Credit Bank in the ASSR of the Volga Germans during the period of the new economic policy. Special attention is paid to the bank’s issuance of a bond loan intended for placement, primarily on the foreign market. The bank bonds were supposed to be placed in Germany and among the German diasporas of the United States and Latin America. The article analyzes the activities of Nemvolbank in attracting foreign currency funds. The source base was the documents stored in the Russian State Archive of Economics in the funds of the Ministry of Finance of the USSR and the Ministry of Foreign Trade of the USSR: correspondence between the leadership of the ASSR of the Volga Germans about the issue of the loan and the terms of its placement, Regulations on the issue of bonds, etc. The role of the bank in the development of Soviet- German financial and economic relations within the framework of the diplomatic rapprochement of the two countries is traced. Shown activity Newalliance for the return of German colonists, immigrants back in the Volga region. It is concluded that the German-Volga Bank conducted quite active foreign trade activities.
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Sunseri, Thaddeus. "The Moravian, Berlin, and Leipzig Mission Archives in Eastern Germany." History in Africa 26 (January 1999): 457–62. http://dx.doi.org/10.2307/3172152.
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The reunification of the Germanies in 1990 has opened up research opportunities for historians of Africa. While research in East German archives was possible for Western scholars during the Cold War, conditions for research were not as easy or affordable as they currently are. Intent on obtaining foreign exchange, East German authorities channeled Western researchers to expensive hotels and limited the number of files a researcher could see in a day in order to prolong the process. Visas had to be obtained well in advance of research trips, and for prescribed durations, curtailing the flexibility one needed if archival materials proved to be especially rich. From the Western side, while the Federal Republic was generous in allocating funds for research in its archives (particularly through DAAD—German Academic Exchange Service—research grants), it prohibited use of those funds for research undertaken in East Germany. Today it is possible to use DAAD funds for travel and research throughout reunited Germany.While federal and state archives in eastern Germany offer valuable resources for researchers interested in the former German colonies, mission archives located in the East have not been widely used by historians of Africa. For the most part these have been content to use published mission histories and newspapers as their sources of information, neglecting diaries, station reports, and correspondence which offer more nuanced and detailed pictures of African life.
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SCHMIDT, DÖRTE. "In Between: Cultural Exchange and Competing Systems." Twentieth-Century Music 17, no. 3 (October 2020): 347–59. http://dx.doi.org/10.1017/s147857222000016x.
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AbstractAfter the Second World War, cultural politics has become a central medium for international relations. Owing to the particular conditions of their development, the relations between Latin America and Europe constituted an interesting case study in which the positioning of different nations in the realm of two competing political systems and the politics of memory concerning the recent war are intertwined. This article highlights five ‘moments’ in West Germany with respect to the relationship between Europe and Latin America in the field of music: the papers of the German Federal Foreign Office, the Berlin Festival week, the Darmstadt summer courses, the DAAD Berlin Artists Program, and the Horizonte Festival in Berlin. These sources invite an observation as to how – from the perspective of cultural politics – contrasting notions of the ‘international’ have tended to ‘fade out’ after the end of Cold War polarizations, leading to a more or less common acceptance of a notion of the ‘global’ as a privileged concept in contemporary cultural debates.
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Muñoz, Pedro Felipe, and Stefan Rinke. "Latin America in the global exchange of the German Hygiene Museum in Dresden (1919-1930)." Revista Tempo e Argumento 14, no. 35 (April 30, 2022): e0104. http://dx.doi.org/10.5965/2175180314352022e0104.
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In 1912, Karl Lingner created the German Hygiene Museum Dresden profiting from the Dresden International Hygiene Exhibition 1911. Lingner aimed to build a permanent building for the museum, but due to the Great War and post-war economic crisis in Germany, the permanent building was not opened until 1930. In the Weimar Republic, the museum circulated internationally through traveling exhibitions and the sale and donation of collections and exhibits. This circulation comprised a global exchange promoting health education that included Latin America. In keeping with German foreign cultural policy of the period, the German Hygiene Museum played an active role in the transatlantic cultural relations and the German-Latin American exchange, functioning as "a cultural propaganda institute". In this article, we explore the transnational circulation of objects and collections between Dresden and Latin America which was also associated with international efforts to promote public health. Keywords: Public Health; Health Education; Cultural Propaganda; German-Latin American Relations; Transnational and Global History.
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Belov, Vladislav, and Alexander Kotov. "Germany's anti-Russia sanctions policy: intermediate results and countermeasures." Analytical papers of the Institute of Europe RAS, no. 4 (2022): 37–42. http://dx.doi.org/10.15211/analytics42720223742.
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It is emphasized that in 2022 the sanctions of Germany, the largest economic partner of Russia in the EU, radically weakened Russian-German economic cooperation in a wide range of interactions. It is determined that, as part of coordinated actions with Brussels, Berlin is focused on curbing the industrial development of the Russian Federation and limiting its foreign exchange earnings. Russia, along with the already existing countermeasures, needs to develop additional steps aimed at reducing the potential for conflict in bilateral economic cooperation, incl. by attracting the German business that remained in the Russian Federation as an economic lobbyist for a peaceful settlement for the future.
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Stetskyi, Vasyl. "PRACTICAL ASPECTS OF STUDYING INTERNATIONAL TOURISM ON MATERIALS OF FOREIGN EDUCATIONAL PRACTICES IN GERMANY." GEOGRAPHY AND TOURISM, no. 43 (2018): 163–72. http://dx.doi.org/10.17721/2308-135x.2019.43.163-172.
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Aim: To bring attention to and highlight the significant role of foreign-language training for students in the areas of geography and tourism training. I would also like to demonstrate the positive side of the "Studienreise in Duetschland" training program of the German Academic Student Exchange Service, including the development of practical skills in international tourism. Method: The study is to analyze and systematize information on the development of international tourism in Germany derived directly from residents of the country's tourism business. The subject of research is the applied aspects of international tourism in Germany as well as the experience of organizing and operating the international tourism. Result: The article deals with the applied principles of training students and specialists in the tourism industry in Germany and analysis of the causal aspects of the development and functioning of international tourism in keeping with modern information technologies and mobility of population. The acquired knowledge and practical experience of tourists studies in the future, can be applied in the international segment of tourist services as well. Scientific news: A number of tourists and methodologists in general, considered and proposed methodological guidelines and recommendations for the conduct of educational practices at the international level. Definitely the world tourist market has a powerful resource potential and has invaluable experience in organizing and providing services based on the use of numerical data for students in leading tourist centers of Germany as well as meetings with scientists and specialists The author of the study highlights and analyzes the main organizational and teaching-methods and types that will work during international tourist training programs. Practical significance: The issue of international tourist training practices has not been adequately addressed in literature. Materials of the proposed study, the specifics of this type of tourism was paid little attention. The study provides a better understanding of the beginnings of leisure tourism. Key words: international tourism, practical aspects of international tourism development, international educational practice, German hospitality.
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Fear, Jeffrey, and Christopher Kobrak. "Banks on Board: German and American Corporate Governance, 1870–1914." Business History Review 84, no. 4 (2010): 703–36. http://dx.doi.org/10.1017/s0007680500001999.
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This examination of the foundations of German and American corporate governance highlights the role of money-centered banks, both as board members in large corporations and as intermediaries on the stock exchange. German banks, by acting as surrogate regulators, became institutional stabilizers, and German regulators encouraged banks to participate in corporate boards in order to overcome agency problems in firms and to control speculation. American investment banks, prior to 1914, often managed to overcome regulatory obstacles, which enabled them to wield more power over corporations than their legendary German counterparts. American banks had more opportunities to intervene in the event of panics, bankruptcies, foreign investment, and corporate consolidation. In contrast to Germany, the United States increasingly imposed regulations that circumscribed the supervisory role of banks as board members.
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AZUELA, LUZ F. "A BRIEF ACCOUNT OF GERMAN GEOLOGICAL RESEARCH IN MEXICO AND ITS LOCAL COLLABORATORS (1824–1847)." Earth Sciences History 39, no. 2 (November 12, 2020): 262–90. http://dx.doi.org/10.17704/1944-6187-39.2.262.
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ABSTRACT During the first half of the nineteenth century, foreign mining experts and entrepreneurs were attracted to invest in Mexico given its legendary mining industry wealth. At the time, the Mexican Government needed to increase foreign investment, especially in the mining industry, to overcome the financial impact of the war of Independence. In this context, collaboration between local and foreign actors, from different backgrounds, and social statuses, greatly assisted the exploration and utilization of Mexico’s extensive mineral resources. Knowledge coproduction in the geological sciences in Mexico was the outcome of such collaboration. This article examines the exchange of knowledge, as documented in scientific works published during those years, between German mining officers, Mexican scholars, and other local actors. We argue that the specific local character of the encounters between the actors determined this collaborative process, which not only prompted the reconfiguration of geological knowledge and practices in both Mexico and Germany, but also disseminated the coproduced geological knowledge throughout global scientific networks.
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Šimáková, Jana, and Daniel Stavárek. "An Empirical Sector-Specific Gravity Model for Hungarian International Trade." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 63, no. 6 (2015): 2145–50. http://dx.doi.org/10.11118/actaun201563062145.
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This paper contributes to the economic literature on the impact of exchange rate volatility on Hungary’s foreign trade. Basic gravity model shows that trade volume between a pair of countries is an increasing function of their sizes (GDP) and a decreasing function of the distance between them. Additional factors included in extended model are population, dummy for common border and proxy for exchange rate volatility. The measure of exchange rate volatility is estimated by GARCH model. This paper explores relationship between trade and exchange rate uncertainty using quarterly data over the period 1999:1 – 2014:3. In order to obtain the objective result, we use the panel data regression for 10 sectors of Hungarian international trade based on SITC classification and six major trading partners (Austria, Germany, France, United Kingdom, Italy and Poland). The significant parameters obtained from panel regression demonstrate that bilateral exchange rate volatility leads to a decrease in Hungary’s foreign trade.
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Tsvyk, A. V. "THE «SPECIAL» RELATIONSHIP BETWEEN GERMANY AND CHINA IN THE CONTEXT OF GERMANY’S CHINA POLICY." MGIMO Review of International Relations, no. 2(47) (April 28, 2016): 161–67. http://dx.doi.org/10.24833/2071-8160-2016-2-47-161-167.
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The Federal Republic of Germany and the People's Republic of China are both economic powers in Asia and Europe with a shared international responsibility in many international fields. Germany is China's number-one trade partner in the EU and China is the top foreign investment destination for German companies. This article highlights the relationship between Germany and China since the beginning of Gerhard Schroeder's «Wandel dutch Handel» policy in 1998. Germany's policy toward China was based on the idea that economic exchange and increase in trade between both countries would lead to political and societal change in China. In the author's point of view Germany's China policy shifted significantly to one which focused more heavily on human rights at the beginning of the first term under Chancellor Angela Merkel in 2005. The author argues that Germany's China policy at present time is motivated first of all by economic interests and the needs of its exporters. In recent years, there have been efforts to extend cooperation to other fields like security and world order. The author comes to the conclusion that both Germany and China increasingly consider a strategic partnership within mutual interest.
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Ph.D. MBA, CPA, CTP, Karina Kasztelnik. "The Role and Impact of International Financial Reporting Standards on Cross-Border Financing for a Systemically Important Bank from Macroeconomic Perspectives—Technical Review Research Study." International Business & Economics Studies 2, no. 3 (September 2, 2020): p74. http://dx.doi.org/10.22158/ibes.v2n3p74.
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The author of the study note that the extensiveness of a country’s international accounting disclosure requirements is a good for the overall disclosure extensiveness of the exchange in that foreign country, which, in turn, is bigly correlated with the cost of listing such as United States, Canada, United Kingdom, The Netherlands, France, Japan, and Germany. The United States and the national over-the-counter market have enjoyed significant growth in foreign listing. In absolute terms, the U.S. numbers are even more impressive. As of December 2019, the 1,420 foreign companies whose shares are traded in the United States reparent the largest amount of foreign listings of any major stock exchange in the world., which reflects, at least in part, recognition by multinational entities that the U.S. securities market represents the most efficient market in the world, thus translating into a lower cost of capital for issuer of securities. This technical research review article may support both the public trade companies and policymakers around the World.
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Qayyum, Abdul, and Muhammad Arshad Khan. "Capital Flows and Money Supply: The Degree of Sterilisation in Pakistan." Pakistan Development Review 42, no. 4II (December 1, 2003): 975–85. http://dx.doi.org/10.30541/v42i4iipp.975-985.
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Under the current managed float exchange rate system; the central bank may respond to an exchange market disequilibria by changing either the international reserves or the exchange rates. Under such a regime, a major policy difficulty is the interaction between exchange rate policies and monetary policies. The monetary authorities intervene in the exchange market in response to undesired fluctuations in exchange rates,1 could adversely affect monetary control and move the economy away from internal target such as price stability. Under such a policy dilemma, fully sterilised intervention2 involves a pure swap of foreign and domestic assets, which have not effect on the money supply, received greater attention by the policy-makers in early 1980s, particularly, through the experience of West Germany [Obstfeld (1983)]. Ideally, it provides an independent policy tool to deal with the exchange rate without affecting the internal policy targets.
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McKinnon, Ronald I. "Monetary and Exchange Rate Policies for International Financial Stability: A Proposal." Journal of Economic Perspectives 2, no. 1 (February 1, 1988): 83–103. http://dx.doi.org/10.1257/jep.2.1.83.
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What keeps the three major industrial blocs -- Western Europe, North America, and industrialized Asia -- from developing a common monetary standard to prevent exchange-rate fluctuations? One important reason is the differing theoretical perspectives of economic advisers. The first issue is whether or not a floating foreign exchange market -- where governments do not systematically target exchange rates -- is “efficient.” Many economists believe that exchange risk can be effectively hedged in forward markets so international monetary reform is unnecessary. Second, after a decade and a half of unremitting turbulence in the foreign exchange markets, economists cannot agree on “equilibrium” or desirable official targets for exchange rates if they were to be stabilized. The contending principles of purchasing power parity and of balanced trade yield very different estimates for the “correct” yen/dollar and mark/dollar exchange rates. Third, if the three major blocs can agree to fix nominal exchange rates within narrow bands, by what working rule should the new monetary standard be anchored to prevent worldwide inflation or deflation? After considering the magnitude of exchange-rate fluctuations since floating began in the early 1970s, I analyze these conceptual issues in the course of demonstrating how the central banks of Japan, the United States, and Germany (representing the continental European bloc) can establish fixed exchange rates and international monetary stability.
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Popov, Maxim Evgenievich. "The Russian Theater in Berlin (1919-1923): the Experience of Cultural Exports." Samara Journal of Science 6, no. 4 (December 1, 2017): 156–60. http://dx.doi.org/10.17816/snv201764208.
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The paper is devoted to the consideration of Russian theatrical activity in Berlin during 1919-1923, when Berlin was the focus of Russian theater life abroad, and active creative exchange between German and Russian cultures took place in this connection. The problem of exporting Russian art culture to Western countries is of interest for both domestic and foreign researchers. Among the topical problems on this issue, the Russian theater plays an important role. The study of this issue gives an idea of the potential of Russian culture in a different social and cultural environment. In the center of the research is the process of formation and development of Russian theatrical life in the German cultural environment. The author made an attempt to identify and disclose the main artistic directions of the Russian theater in Berlin in 1919-1923 and determine their role in bringing Germany to the achievements of national culture. The work uses materials from the memoirs of contemporaries and periodicals. On the basis of these sources it is shown that the theater played one of the fundamental roles in preserving the Russian cultural community and their cultural appearance on the overseas. Russian theatrical seasons contributed to the Wests involvement in the achievements of Russian culture and the establishment of cultural and artistic ties between Germany and Soviet Russia. Thus, the activities of the Russian migr and touring Russian theater in Berlin in 1919-1923 reflected the high potential of Russian culture in the conditions of a foreign social environment.
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Dementyeva, Тamara М. "German as a Second Foreign Language for Russian Students – A Dilemma of Choice: Classical or Pluricentric German?" Vestnik Tomskogo gosudarstvennogo universiteta, no. 464 (2021): 181–92. http://dx.doi.org/10.17223/15617793/464/21.
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The article raises the problem of teaching German as a second foreign language within the framework of a pluricentric approach. Its relevance for the Russian undergraduate and graduate students is dictated by the modern needs and opportunities to obtain further education in the Common European higher institutions of Germany (D), Austria (A), the German-speaking part of Switzerland (CH), as well as the opportunity to participate in various international student exchange support programs of these countries. The aim of this article is to assess the willingness of the bachelor’s and master’s students undertaking the Foreign Languages and Intercultural Communication course not only to study the classical German language but also to get familiar with the features of the standard German language in Austria and Switzerland. The pluricentric approach is based on the generally recognized theory of pluricentrism, according to which the German language is considered as a single language incorporating the national linguistic specifics in the Federal Republic of Germany, Austria, and the German-speaking part of Switzerland. The article conveys the main ideas of the pluricentric theoretical research studies and covers the linguodidactic and methodological foundations in teaching pluricentric German developed by a special research group and described in the so-called ABCB theses. The readiness of students to learn German in the diversity of the linguistic and cultural national specifics of the DACH-Länder is one of the basic requirements of the pluricentric approach. The conducted research allowed assessing the readiness of the bachelor’s and master’s students to study the classical German language, taking into account the existing distinctive linguistic features of the standard German language in Austria and Switzerland. The research was based on the questionnaire method in the form of a written poll. Given the results of the research, students of the bachelor’s and master’s programs are equally willing to learn the standard Austrian and Swiss German vocabulary in the German language classes. Among bachelors, 70% prefer the vocabulary of the Austrian version and 65% of the Swiss version of German; among master’s students, 75% want to learn the vocabulary of both the Austrian and the Swiss versions of German. Besides, knowledge of the features of the standard German language DACH-Länder is considered as a prerequisite for traveling and further education in these countries. These statistics confirm the high motivation of the bachelor’s and master’s students to study German applying the pluricentric approach. The students also demonstrated the thoughtful choice of the Second Language Country Studies as a discipline for studying German, taking into account the diversity of the linguistic and cultural national specifics of DACH-Länder.
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Kowalewska, Ewa. "The Role of the Central Bank in Foreign Exchange Inspection in Selected Countries of the European Union – as seen in the Example of Poland, the Czech Republic and Germany." Review of European and Comparative Law 45, no. 2 (June 16, 2021): 183–206. http://dx.doi.org/10.31743/recl.12282.
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The activity of central banks in EU states is based on similar assumptions. Their aim is usually to maintain a stable level of prices and to support the state’s economic policy. Central banks are responsible for issuing money and for monetary policy. They have been equipped with adequate instruments to this end. The aim of this research is to demonstrate that legislation in Poland, the Czech Republic and Germany vested another important function in the central banks, namely foreign exchange inspection. However, this function is exercised differently in each of them. The central banks of countries referred to above are not only responsible for currency in circulation within the country but also for the balance of payments. Also, by pursuing their own foreign exchange policy they ensure an adequate position of the national currency in relation to foreign ones. The foreign exchange inspection in each of these countries is based on a different tradition and at the same time outlines the special role of the central bank. The analysis herein makes it possible to establish the scope of this inspection, taking into account the dynamics of changes that occur on the legal ground. What is also important here is whether a given country is only a member of the European Union or a member of the EU and of the euro area. The adopted research methodology is based on analysis of legislation in force with a reference to views expressed by legal commentators.
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Smirnova, A. S. "Lexical and Semantic Features of the Words Nominated for the German Linguistic Awards in 2021." Uchenye Zapiski Kazanskogo Universiteta. Seriya Gumanitarnye Nauki 164, no. 5 (2022): 120–29. http://dx.doi.org/10.26907/2541-7738.2022.5.120-129.
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This article considers the main lexical and semantic features of German neologisms that were debated in 2021 as the candidates for “Word of the Year”, “Un-Word of the Year”, and “Youth Word of the Year”. All these votes have been held in Germany since the 1970s, and their results are highly credible and of particular research interest to both German and foreign linguists. The lists of winners often spark intense debates regarding the validity of the choice and the reasons behind it. Of course, this brings together the community of linguists and encourages the exchange of views among them. The results obtained here show that neologisms stand out and are widespread because they reflect the evolving world situation and the attitude of the German public toward it. A generalized description of the lexical units that can potentially explain the large-scale popularity and selective use of neologisms in the German language was carried out. The relationship between language and society, with regard to certain social processes taking place in it, was revealed.
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Földes, Csaba, and Valentina P. Furmanova. "Intercultural Communication in the Professional Training of Master’s Students: Concept and Structure of a Joint Educational Project." Integration of Education 24, no. 4 (December 30, 2020): 591–607. http://dx.doi.org/10.15507/1991-9468.101.024.202004.591-607.
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Introduction. The area of intercultural communication with its system-forming theory, empirical research and implementation is gaining currency both in academic research and in the professional training of students. Regarding the latter aspect, there is a need (a) for developing a concept for the training of master’s students with knowledge of foreign languages; (b) for the introduction of new educational practices that successfully combine intercultural communication, foreign language and the modeling of communicative behavior in foreign language communication with its further reproduction in language practice in the students’ native language as well as (c) for the introduction of an educational project using modern technologies in the practice of institutions of higher education. The paper discusses the concept, structure and content of an educational project relying on the experience of higher education in Russia and Germany and aims to work towards an understanding of the social significance of future professional activities, primarily concerning the specific problems as well as of the adequacy of social and professional contacts in intercultural communication. Materials and Methods. Based on the subject, object and objectives of the study, the project’s methodological plan was implemented in the following stages: project planning, development of the fundamental features of the concept; determination of the project’s content; project modeling; introduction to the training of master’s students of various specialties at institutions of higher education. The methodological basis of the project consisted of the analysis of intercultural communication between representatives of the German and the Russian linguocultural community as well as the exchange of experience between them and their comparison. Results. Following the study and the exchange of experience between the institutions of higher education of Russia and Germany, the need for an integrative educational course was revealed, aiming at the improvement and optimization of intercultural communication skills at the level of both professional and personal communication with the goal to prepare master’s students for their future as researchers and practitioners. The educational project presented in the paper drawing on an eponymous integrative course will increase the efficiency of the training of master’s students from various specialized fields and prepare them for successful communication processes with representatives of other linguocultural communities. Discussion and Conclusion. The contents of this paper will be useful for researchers interested in optimizing the preparation of master’s students with knowledge in foreign languages by applying international experience.
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Pretorius, Anmar, and Jesse De Beer. "Comparing The South African Stock Markets Response To Two Periods Of Distinct Instability The 1997-98 East Asian And Russian Crisis And The Recent Global Financial Crisis." International Business & Economics Research Journal (IBER) 13, no. 3 (April 28, 2014): 427. http://dx.doi.org/10.19030/iber.v13i3.8583.
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This paper compares the South African stock markets response to two periods of distinct instability, namely the East Asian and Russian crisis of 1997-98 and the global financial crisis of 2007-09. Considering share prices, the Johannesburg Securities Exchange (JSE) was more severely affected by the earlier crisis, when the domestic fundamentals were weaker. The low levels of foreign reserves were the main cause of concern. The paper further empirically investigates volatility spillover between the JSE and various developed and emerging stock markets during the two crisis periods, employing twelve separate bi-variate GARCH models. The main contributors to volatility spillover during the East Asian and Russian crisis were Mexico, Thailand, Brazil, and Germany predominantly emerging markets. During the second crisis period, Germany, US, Brazil, and UK played the dominant parts predominantly developed markets. The importance of Germany in both periods can be attributed to the countrys role as main export destination of South African goods in Europe.
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Bašek, V., and J. Kraus. "Czech foreign agricultural trade after joining the European Union." Agricultural Economics (Zemědělská ekonomika) 55, No. 12 (December 28, 2009): 583–95. http://dx.doi.org/10.17221/65/2009-agricecon.
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The objective of the paper is to assess how the Czech agricultural sector has withstood keen competition in the EU single market as measured by the basic indicators of foreign trade exchange. The impacts expressed by the indicators of active and/or adverse balance of trade were monitored for the post-accession period (the average of the years 2005–2007) in comparison with the pre-accession period (the average of the years 2001–2003). The assessment of the impacts of the accession to the EU is based on an analysis of the commodity and territorial structure of Czech agricultural foreign trade. The comparison of agricultural balance before and after the accession to the EU for our major trading partners shows that the active balance of the CR with Slovakia increased to 12.0 billion CZK per year; on the contrary, in relation to Poland, the trade deficit of 6.4 billion CZK per year was recorded while Germany strengthened its position in relation to the CR by an increase in the negative balance to 5.4 billion CZK and in relation to Austria, our adverse balance is maintained at the level of 1.1 to 1.2 billion CZK per year for a long time. After the accession to the EU, it was confirmed that the former EU 15 countries took a greater advantage of the customs union enlargement in the framework of the EU 27.
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Woś, Sonia. "Alternative Trading Systems in Germany – Entry Standard vs. Neuer Markt." Ekonomia Międzynarodowa, no. 15 (September 30, 2016): 223–33. http://dx.doi.org/10.18778/2082-4440.15.04.
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The aim of the article is to compare the former German alternative market, the Neuer Markt, with the current Entry Standard, in the context of providing capital access to small and medium enterprises. The article characterizes the German capital market since 1987, focusing on the current alternative trading system – the Entry Standard segment. The objective has been achieved with the analysis of the Entry Standard IPO emission requirements, selected statements demanded from issuers and the market structure. Those issues are compared with the former Neuer Markt. During the research, foreign literature, press articles and Frankfurt Stock Exchange publications and reports were applied. The author wants to indicate the main similarities and differences between the Neuer Markt and the Entry Standard. The comparison confirms that the alternative trading system plays a huge role in providing capital access to small and medium enterprises.
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Kirilova, Ekaterina A., and Evgeny F. Troitsky. "The Cultural Interaction between the Russian Federation and the Federal Republic of Germany from 2000 till 2020." Vestnik Tomskogo gosudarstvennogo universiteta, no. 470 (2021): 154–61. http://dx.doi.org/10.17223/15617793/470/18.
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In the modern world, culture is an integral part of the state policy. The authors note the importance of cultural policy as a tool for countries to improve their relations, overcome crisis situations and build further development paths, in spite of political differences. The article deals with the cultural interaction between Germany and Russia during the 21st century. The chosen period is explained by the coming to power of Vladimir Putin in the Russian Federation and the beginning of significant changes in the state's foreign and domestic policies. During the examination of this topic, the research methods of classification, systemic approach, and historical analysis were used. With the help of historical analysis, the history of cooperation between the two states, starting from the 9th century, was considered. Common and different features in the historical past of Russia and Germany were also established. The systemic approach made it possible to define cultural policy as an integral element of the country's foreign policy. The classification method involves the division of cultural policy into several areas in which the Russian Federation and the FRG interact. The work on this article was carried out using laws in the field of international cultural cooperation, a large amount of information from official news portals (RIA Novosti, TASS, RBC), official websites of the Embassy of Russia in Berlin and the Embassy of the Federal Republic of Germany in Moscow. The vectors of interaction between the two states are described in detail: scientific and technological cooperation; academic mobility; exchange programs for students, scientists, exchange of methodological literature; cross-years; forum campaign; preservation of historical memory in the territory of both states; support programmes for compatriots living in Russia and Germany; activities to promote and remain both Russian and German languages, etc. Within each direction, the forms and ways, in which countries work together, are described. This research allowed drawing conclusions about culture's significance in the formation of a positive/negative image of the state, as well as to highlight an important pattern: with the help of cultural policy, states can both improve relations and provoke conflict. Thus, the authors analyzed various forms and mechanisms of the cultural interaction between the Russian Federation and the Federal Republic of Germany. There is a rich historical experience and economic basis for fruitful cooperation between the two countries and their nations. That is why two states have been able to maintain a dialogue at different levels, resolve conflict situations and restore contacts for many centuries. Therefore, both Russia and the FRG can continue to work in this direction in order to strengthen relations and bring them to a new level with the help of cultural policy.
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Freytag, Carl. "„Alles war in wirrer Bewegung auf ein vollkommenes Chaos hin“ Otto Braun, Hermann Neubacher, die „Deutsch-Griechische Warenausgleichsgesellschaft mbH“ (DEGRIGES) und die Wirtschaft Griechenlands 1942–1944 / „Everything Was in Confusion and a Movement, Heading toward Complete Chaos“ Otto Braun, Hermann Neubacher, the „Deutsch-Griechische Warenausgleichsgesellschaft mbH“ (DEGRIGES, „German-Greek Organization for the Balancing of Trade), and the Economy of Greece 1942–1944." Südost-Forschungen 73, no. 1 (August 8, 2014): 60–89. http://dx.doi.org/10.1515/sofo-2014-0105.
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Abstract In 1942, one year after the occupation of Greece by the German “Wehrmacht”, the “Reichswirtschaftsministerium” set up the DEGRIGES (Deutsch-Griechische Warenausgleichsgesellschaft / German-Greek organization for the exchange of goods) for the control of trade between Germany and Greece. The president was Otto Braun, owner of the Berlin-based „Transdanubia“, an Import- Export-Company. Braun organised in the 1920s in Bavaria illegal arms depots, and commanded „Feme“-murders. In Hungary he supported the fascists, and achieves the „aryanization“ of Jewish companies. The focus of the investigation is on the activities of the DEGRIGES in the network of competing organizations like the greek branch of NSDAP, the Sudosteuropa-Gesellschaft, the SACIG (the Italian counterpart of DEGRIGES), and the Mitteleuropaischer Wirtschaftstag (MWT) − and on the competition with Hermann Neubacher, „Sonderbeauftrager“ of the Foreign Office for Greece, and Max Merten, one of the organizers of the deportation of the greek Jews to Auschwitz. In summary, it can be stated that the DEGRIGES was from 1942 until 1944 (when it was liquidated during the withdrawal of the “Wehrmacht”) an „agency for the wellarranged exploitation of Greece“.
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Lou, Tienwei, and Wuchang Luo. "Revisiting Quantile Granger Causality Between the Stock Price Indices and Exchange Rates for G7 Countries." Asian Economic and Financial Review 8, no. 1 (December 5, 2017): 9–21. http://dx.doi.org/10.18488/journal.aefr.2018.81.9.21.
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The daily data of the stock price index and the foreign exchange rate in G7 were utilized for the period between January 4, 1999 and June 30 2015. From the empirical study of Granger causality test in quantiles, there are three main findings. Firstly, there is no long-run significant relationship between the stock price index and exchange rate in G7. Secondly, different types of short-run relationships exist between the two variables among G7 countries. In Canada, Italy, and U.S.A., the relationship is bidirectional, and the asymmetric effect is at different quantiles. In France and Japan, the relationship is unidirectional, from the stock price index to the exchange rate, and the relationship is at different quantiles for the two countries. In Germany and U.K., the relationship is unidirectional in the opposite direction and is also at different quantiles. Lastly, it shows that international trading effects at different quantiles exist in Canada (at high quantile), Italy (at median quantile), and U.K. (at low quantile). On the other hand, portfolio balance effects at different quantiles exist in Germany (at low and median quantiles) and U.S.A. (at high quantile). The study shows neither effect in France and Japan. The empirical findings in this paper have important implications for academicians, international institutional investors, and policy-makers on the G7 markets.
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Barrell, Ray, Nigel Pain, and Julian Morgan. "The World Economy." National Institute Economic Review 153 (August 1995): 30–58. http://dx.doi.org/10.1177/002795019515300104.
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The early part of 1995 saw considerable turbulence in the foreign exchange markets, resulting in significant currency realignments. Relative exchange-rate patterns have not changed very much in the last three months, and the effects of the real exchange-rate realignment are beginning to be felt, with growth slowing in those countries whose currencies appreciated, and inflationary pressures building up in some of the countries that depreciated. In addition to the destabilising effects of the realignment, signs are beginning to emerge that growth is slowing of its own accord throughout the OECD, particularly in North America. The recovery also appears to have become somewhat more hesitant than we had anticipated in Germany and the UK, although other European countries are continuing to expand at above trend rates. The fragility of the Japanese financial system has been clear for some time, but the potential scale of bad debts is only now becoming known, and this appears to be having a deleterious effect on both financial and consumer confidence.
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Sabaliauskienė, Rima, Gintarė Gelūnaitė-Malinauskienė, and Jūratė Andriuškevičienė. "Advertising As A Reflection of Culture in Foreign Language Teaching." Sustainable Multilingualism 14, no. 1 (May 1, 2019): 160–95. http://dx.doi.org/10.2478/sm-2019-0008.
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Summary The ability to communicate in several foreign languages, recognize and understand cultural differences and effectively interact in a multicultural environment has become vital in the modern world that faces intense globalization processes. Linguistic and intercultural competences are essential not only for establishing personal relationships with foreigners but also for developing successful business relationships. At the Institute of Foreign Languages at Vytautas Magnus University (hereafter - VMU IFL), Spanish and German languages remain in the top five of the most popular languages among 30 languages available to students. These languages are chosen not only by Lithuanian students but also by foreign students who come to study in Lithuania. Most exchange students who come to study at VMU choose to study the Lithuanian language as well. In addition to the development of language skills in a learning process, the new concept of language teaching / learning, market trends and the great interest of students and the public in languages lead to the development of topics related to culture and intercultural communication and efforts to reveal peculiarities of the new culture in the common European and native country context. Based on the theories of different authors on the connection between culture and language and intercultural differences, the article discusses the possibilities of using commercials (video recordings of advertisements) to get acquainted with the culture in foreign language lectures. A comparative analysis of examples selected from commercials available online and revealing certain cultural aspects of the three countries (Spain, Lithuania and Germany) that allow to understand the target culture better is presented in this article. The aim is to reveal how a teacher, knowing the theories of cultural differences, can use commercials for the development of students’ linguistic and also cultural and intercultural competences.
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Ibiapina, Iveltyma Roosemalen Passos, Sérgio Henrique de Oliveira Lima, Áurio Lúcio Leocádio, and Diego Sampaio Vasconcelos Ramalho Lima. "Cultural Dynamics and Sustainable Consumption: a Perception of Brazilian Students in Germany." Revista de Gestão Social e Ambiental 15, no. 1 (September 28, 2021): e2714. http://dx.doi.org/10.24857/rgsa.v15i1.2714.
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The present study analyzed the influence of cultural determinants on the sustainable consumption behavior of individuals temporarily immersed in a foreign culture. Based on the framework proposed by Ceglia et al. (2015) for cross-cultural research on sustainable consumption, the study investigated the influence of material culture and communication and language systems on the sustainable consumption behavior of Brazilian exchange students living in Germany. The research adopted a qualitative interpretive design through an exploratory and descriptive approach. Data were collected through participant and non-participant observations and in-depth interviews with ten business students (six women) aged between 22 and 26. Students had to have studied at German universities for at least one semester to participate in the study. The results show that participants perceive the influence of cultural differences on their consumption behavior. In addition, both material culture (e.g., objects, institutions, and organizations) and language and communication systems (e.g., verbal and non-verbal communication) influence their sustainable consumption practices. Ultimately, this configures a dynamic process of adaptation to the new cultural context in which they live. The study innovates by bringing an empirical analysis of yet ill-understood cultural components. Such efforts complement current research and try to consolidate a broader cross-cultural research agenda on sustainable consumption.
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Cucchiara, Martina. "The Bonds That Shame: Reconsidering the Foreign Exchange Trials of 1935–36 Against the Catholic Church in Nazi Germany." European History Quarterly 45, no. 4 (October 2015): 689–712. http://dx.doi.org/10.1177/0265691415603637.
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Bouazizi, Tarek, Fatma Mrad, Arafet Hamida, and Sawsen Nafti. "Effects of Conditional Oil Volatility on Exchange Rate and Stock Markets Returns." International Journal of Energy Economics and Policy 12, no. 2 (March 20, 2022): 53–71. http://dx.doi.org/10.32479/ijeep.12826.
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The underlying volatility at a given time is called conditional volatility at this particular time and is modeled by various ARMA-GARCH conditional variance equations (GARCH, EGARCH, GJR, APARCH, IGARCH). How important are oil price fluctuations and oil price volatility in foreign exchange markets and stock markets? What is the nature of the relationship between these three markets? What are the political implications if volatility, using appropriate models to determine, turns out to be important? We evaluate these questions empirically, using the specification of Narayan and Narayan (2010). This specification, in our paper, deals with the determination of volatility appropriate models, based on information criteria, of the ARMA-ARCH family conditional volatility of oil returns using daily data for each country independently (i), and revolve around an analysis of the effect of the volatility of black gold price on the returns of the other two markets in Oil Importing Developed Countries category (ii). The selection of appropriate models of oil returns according to the period of the chosen data gives the ARMA(2,2)- GJR(1,2) model for the Germany and the ARMA(2,2)-GJR(2,2) model for the Japan and the USA. The results that the conditional variances of oil returns, foreign exchange market returns and stock market returns are contested and they have a long-term relationship in different countries. In addition, the results of the granger causality tests and the study of impulse response functions have shown that it has a sending effect of the volatility of oil prices on most foreign exchange markets and stock markets, highlighting the strong explanatory power of market volatility, but bidirectional causality is not always present. Our empirical results involved in the prevention of shocks are important for policymakers, for portfolio managers seeking optimal portfolio allocation, for monetary authorities who are studying changes in the exchange rate of the national currency against currencies, for oil-importing countries seeking to minimize their spending on crude oil, and for oil-exporting countries seeking the sound management of oil reserves. They also show that the volatility of crude oil prices on the world market is generally more significant for foreign exchange and stock markets than the volatility of oil price in the local market. This main conclusion gives political implications to policymakers.
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Khan, B. Zorina. "Selling Ideas: An International Perspective on Patenting and Markets for Technological Innovations, 1790–1930." Business History Review 87, no. 1 (2013): 39–68. http://dx.doi.org/10.1017/s0007680513000135.
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An extensive global market in patents and innovations developed after the middle of the nineteenth century. I employ data from the United States, Britain, Germany, Canada, New South Wales, Spain, and Japan during the nineteenth and early twentieth centuries to assess the evolution of transfers in patent-property rights across these countries. The empirical analysis examines the factors that affected patterns in patent assignments and foreign patenting for these countries. It sheds further light on cross-sectional variation in foreign patenting and transfers to corporations, based on a panel data set of patent grants and assignments at issue in the United States during the Second Industrial Revolution. The results indicate that, just as inventive activity responded to incentives, the patterns of market exchange in patent rights varied in accordance with legal, economic, and institutional parameters. The analysis is consistent with the position that developing countries today might benefit from tailoring their patent institutions to individual circumstances rather than adhering to harmonized standards.
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Vatlin, Alexander. "Bolshevik intellectuals on the foreign policy front: the relationship between Commissar for Foreign Affairs Georgy Chicherin and Plenipotentiary Adolf Joffe in 1918." Novaia i noveishaia istoriia, no. 6 (2022): 108. http://dx.doi.org/10.31857/s013038640021232-3.
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After coming to power in 1917, the Bolsheviks began to form their own system of foreign policy decision-making, rejecting the traditions and standards of bourgeois diplomacy in the Decree on Peace, and refusing to use the personnel of the Russian Ministry of Foreign Affairs. The first trial of the new system, built on the principles of revolutionary Marxism, took place during the Brest negotiations and ended in defeat for Soviet Russia. The signing of the Treaty of Brest-Litovsk on 3 March 1918 paved the way for the transition from war to peace between the two countries and, consequently, for the exchange of diplomatic representatives. The Soviet legation in Germany, headed by Joffe, was in fact the only 'window to Europe' for the Bolsheviks. Because of the lack of a fine-tuned foreign policy decision-making mechanism and the highly unstable communication between Moscow and Berlin, and because Joffe was not a professional diplomat, the activities of his plenipotentiary representation were determined by his prerevolutionary political experience and personal qualities. Rejecting the hierarchy of the old regime and making no secret of his own ambitions, Joffe came into continuous conflict with his immediate superior, the People' Commissar for Foreign Affairs, Chicherin, and this conflict continued until the Soviet plenipotentiary representative was expelled from Berlin in 1918. The author reconstructs the formation of key decisions in the sphere of Soviet-German relations at the end of the Great War on the basis of official correspondence between the People's Commissar and the Plenipotentiary, shows the role of human factor in the process and the mechanism of departmental and personal conflicts resolution, the core of which was the authority of Lenin. The author concludes that the process of shaping the Soviet foreign policy in 1918 was extremely rapid, generally in line with the pace of events, and developed by trial and error. The traditions and norms laid down in the first year of the work of the People's Commissariat largely influenced the subsequent history of Soviet diplomacy.
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Zhou, Xinsheng, Qinyang Guo, Yuanyuan Wang, and Guofeng Wang. "Trade and Embodied CO2 Emissions: Analysis from a Global Input–Output Perspective." International Journal of Environmental Research and Public Health 19, no. 21 (November 7, 2022): 14605. http://dx.doi.org/10.3390/ijerph192114605.
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Global trade drives the world’s economic development, while a large amount of embodied carbon is transferred among different countries and regions. Based on a multi-regional input–output model, the trade embodied carbon transfers of bilateral trade between 185 countries/regions around the world were calculated. On the basis, regional trade embodied carbon transfer patterns and major national trade patterns in six continents, eight major economic cooperation organizations, and six representative countries/regions were further analyzed. The results showed that Europe was the continent with the largest embodied carbon inflows from trade and Africa was the continent with the largest embodied carbon outflows from trade. China was the country which had the largest embodied carbon outflows from trade, while the United States, France, Japan, and Germany were countries which had embodied carbon inflows from trade. OECD, EU, and NAFTA were the economic cooperation organizations with embodied carbon inflows from trade, while BRICS, SCO, RCEP, OPEC, and ASEAN were economic cooperation organizations with embodied carbon outflows from trade. Developed countries such as the United States, France, and the United Kingdom protected their environment by exporting high-value products and importing low-value and carbon-intensive products. Developing countries such as China and Russia earned foreign exchange by exporting carbon-intensive and commodity products at a huge environmental cost. In contrast, Germany, China, and Russia played different roles in the global industrial chain, while Germany exchanged more trade surpluses at lower environmental costs. Therefore, for different countries and regions, their own industries should be actively upgraded to adjust the import and export structure, the cooperation and coordination in all regions of the world should be strengthened, and the transfers of embodied carbon needs to be reduced to make the trade model sustainable.
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Mandra, Yuliya, Sergey Zholudev, Elena Semencova, and Maria Mirzoeva. "ALLIANCE OF SCIENCE AND PRACTICE: EXPERIENCE IN CONDUCTING INTERNATIONAL DENTAL INTERNSHIPS AT USMU." Actual problems in dentistry 17, no. 4 (February 4, 2022): 164–68. http://dx.doi.org/10.18481/2077-7566-21-17-4-164-168.
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Objectives. Since 2018, the Faculty of Dentistry of UGMU has started implementing an international student exchange program within the framework of IADS (International Association of Dental Students), during which students undergo internships at the Faculty of Dentistry and at the dental clinic of UGMU for 2-4 weeks. The purpose of this event is to show the possibilities of such a form of training for future dentists as an international internship at the Faculty of Dentistry, as part of the exchange of students between universities.
Material, methods, results. In July 2018, 4 fifth-year students studying in the specialty "Dentistry" at the Faculty of Medicine of the University of Ljubljana (Slovenia) and 1 fourth-year student of the Faculty of Dentistry of the Tehran University of Medical Sciences (Iran) (in English) came to the IADS internship in the profile "Dentistry". In July 2021, a scientific and clinical internship of foreign dental students was held for three students from Croatia and Germany. The training cycle consists of lectures and practical exercises with the development of manual skills. During the internship, the guests get acquainted with the structure of USMU, visit the bases of the Faculty of Dentistry for practical training, the vivarium and the central research laboratory of USMU.
Conclusions. The experience of conducting international internships for foreign students is a promising direction in the development of the university, which is successfully being introduced into the international space. A vivid proof of this statement is that the Dental Faculty of the Ural State Medical University (USMU) in 2021 was awarded an award for conducting an international clinical exchange from the International Association of Dental Students (IADS).
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Herbst, Anthony F., Charles L. Smith, and Patrick A. Traichal. "The existence of a numeraire currency in foreign exchange: Evidence from transaction spot rates for Japan, Germany, and the United States." Global Finance Journal 8, no. 2 (September 1997): 181–97. http://dx.doi.org/10.1016/s1044-0283(97)90014-4.
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Reyad, Hossain Mohammad, Mohd Ashhari Zariyawati, Tze San Ong, and Haslinah Muhamad. "The Impact of Macroeconomic Risk Factors, the Adoption of Financial Derivatives on Working Capital Management, and Firm Performance." Sustainability 14, no. 21 (November 3, 2022): 14447. http://dx.doi.org/10.3390/su142114447.
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This study examines macroeconomic risk factors to investigate how they affect working capital management (WCM) and, ultimately, firm performance. Additionally, we examine the effect of credit default swaps (CDSs) as a countermeasure for WCM in the presence of volatile macroeconomic risk factors. In doing so, we use firm-level data from the United States, the United Kingdom, Germany, and China between 2006 and 2020. The two-step system generalized method of moments (GMM) estimation method is employed to analyze the study′s objectives. Results show that US, German, and Chinese firms are more conservative, while UK firms are more aggressive in maintaining WCM during economic policy uncertainty. Conversely, foreign exchange risks drive the USA, the UK, and Chinese firms to lengthen their cash conversion cycle level due to fear of value loss, while the opposite is true for German firms. Nevertheless, following CDS adoption, firms are more confident in working capital (WC) investment. CDSs eliminate the need for delayed receivables and payables and increased inventory as safety stock for US, UK, and Chinese firms. Finally, CDS interaction shows that USA, UK, and German firms may boost their profitability by increasing account receivable periods to create more sales, reducing account payable periods, and holding more inventories to expedite sales operations. Alternatively, CDSs suggest an optimal level of WC investment for Chinese firms. As a result, governments should consider CDS adoption in policy decisions when business performance sinks due to macroeconomic volatility.
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S.R., Vishwanath, Kulbir Singh, Jaskiran Arora, and Durga Prasad. "Restructuring at Suzlon Energy Ltd." CASE Journal 13, no. 2 (March 6, 2017): 218–48. http://dx.doi.org/10.1108/tcj-05-2016-0035.
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Synopsis The case highlights the ambitious growth strategy of Suzlon, an Indian company specializing in non-conventional (wind) energy. In 2007, Suzlon announced the acquisition of REpower of Germany, one of the top wind power companies in the world. It issued zero coupon and coupon bearing foreign currency (US dollar) convertible bonds (FCCB) amounting to $760 million to finance the acquisition. These bonds were listed in Singapore. Due to deteriorating business conditions the company experienced a sharp decline in profitability and stock price resulting in a debt overhang. At the same time, the Indian rupee depreciated from INR44 to INR55 leading to losses on largely unhedged, foreign currency coupon payments. The company had to restructure its capital structure to escape bankruptcy. Since FCCB holders did not agree to restructure the terms of the instrument, the company had to turn to senior lenders to restructure debt. Eventually Suzlon had to sell-off REpower to reduce leverage. Research methodology The case is based on interviews of market intermediaries and published information. The information relating to the restructuring has been taken from the information statement filed with the Securities Exchange Board of India and the Stock Exchanges. The timeline of events were constructed from the information available in company press releases. Financial statements and other details are from the documents filed with the regulators and supplemented with the information available in Prowess database. The stock price and stock market index data are from the websites of Bombay Stock Exchange and the National Stock Exchange of India. Exchange rates, inflation and interest rates have been taken from Bloomberg and the Reserve Bank of India website. Valuation inputs like multiples are from Prowess database and security analyst reports. Sources of information are documented appropriately in the case and instructor’s manual. Although we interviewed the investment bankers involved in the restructuring we have not included any private information in the case to preserve confidentiality. Relevant courses and levels This case can be used in a corporate finance course or in a module on debt restructuring in a corporate restructuring course or in the financing module in an advanced corporate finance course or in an International Finance course. It can also be used to teach an integrated approach to valuation and financing in a valuation course. Theoretical bases The case highlights the rationale for issuing FX convertible debt, parity conditions in international finance and the use of alternate valuation models.
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Kupchyk, Oleh. "TARAS SHEVCHENKO KYIV STATE UNIVERSITY’S INTERNATIONAL COOPERATION WITH SCIENTIFIC AND EDUCATION INSTITUTIONS OF THE COUNTRIES OF SOCIALIST BLOC IN 1964–1975." European Historical Studies, no. 20 (2021): 87–104. http://dx.doi.org/10.17721/2524-048x.2021.20.6.
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The article reveals the international cooperation of the Taras Shevchenko Kyiv State University with scientific and educational institutions of the countries of the Socialist bloc in 1964–1975. The visits of the leadership of the universities of Czechoslovakia, Poland, Romania, Hungary, East Germany to Kyiv University to get acquainted with the organization of scientific, educational and pedagogical work, as well as the visits of rectors, vice-rectors, deans of the faculties of Kyiv University with a similar purpose to the universities of the Socialist bloc are mentioned. It is noted about the establishment of faculties and departments of Kyiv University international cooperation by concluding agreements with faculties and departments of universities of the countries of the Socialist bloc.The participation of scientific and scientific-pedagogical workers of the university in conferences, seminars, congresses, symposiums of Yugoslavia, Bulgaria, Czechoslovakia, East Germany, Hungary, Poland, Czechoslovakia, Romania is revealed. Topics of lectures and scientific reports at Kyiv University of German, Czechoslovak, Polish, Hungarian teachers and scholars are covered. It is informed about joint research projects of scientists of the Kyiv University with colleagues from the universities of Prague, Bratislava, Brno, Krakow, Leipzig, Debrecen. It is said that scientists and teachers of Kyiv University published articles in journals of the countries of the Socialist bloc. Instead, scholars and teachers from these countries published in the journal of Kyiv University. The topic of foreign internship is revealed. It is noted that Soviet students underwent internships in East Germany, Poland, and Hungary. It is informed that Czechoslovakian, Polish, Bulgarian and other students studied at the graduate school of Kyiv University, where they prepared and successfully defended their dissertations. The international book exchange was mentioned. It’s told about the cooperation of youth organizations, in particular about «building detachments» of Soviet students to Leipzig and Krakow. International sports competitions are mentioned. It is noted about the dynamic growth in Kyiv University during 1971–1975’s the number of students from the countries of the Socialist bloc.
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Ćurčić, Petar. "Germany in multipolar world and Serbia's strategic options." Vojno delo 74, no. 4 (2022): 1–14. http://dx.doi.org/10.5937/vojdelo2204001c.
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The paper analyzes the position of the Federal Republic of Germany in international relations today and based on that policy, possible guidelines for the Republic of Serbia in its strategic actions in the upcoming period are given. The first goal of the research was to consider the relationship of official Berlin to the European Union, the United States, Russia, China and the rest of the world. Berlin's tendency to further strengthen the institutions, monetary, foreign and defense policy of the European Union has been present for decades. However, since 2008, that policy has been going through constant challenges. The Greek debt crisis, Brexit, the migrant crisis, the recession, a new wave of debts by European countries due to the Covid-19 pandemic and the war in Ukraine have put the authorities in Berlin in a difficult position. The failure of Germany and France to establish a unified EU security policy, the impossibility of peace initiatives around Ukraine and the consistent monitoring of Washington's policy have limited the EU ability to project power in other parts of the world. In addition to Russia, it is also obvious that the growing antagonism towards the People's Republic of China has been noticed recently, which threatens to affect very good economic relations The second goal of the paper is to offer Serbia's strategic options based on global trends, and in the context of German policy towards the Western Balkans. The Serbian focus on the European integration and the proclaimed policy of neutrality with a strong commitment to the European peace can be an incentive for joint affairs of the two countries. Particularly problematic is Berlin's attitude towards the self-proclaimed independence of the interim institutions in Prishtina. The opposing positions of Germany and Serbia, however, can be attributed to various regional initiatives such as the Berlin Process and particularly the Open Balkans. The attempts to further escalate the conflict or confrontation of Serbia towards the environment would adversely affect the position of Serbs in the surrounding countries and would also weaken economic exchange, which is traditionally oriented towards the European countries. However, official Belgrade should also work on strengthening internal capacities, primarily defensive, economic, administrative and demographic, so that it can have a high level of readiness in case of possible challenges.
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Самедов, Фарман Фамиль. "Foreign Economic Relations of Sumgait city (On the Chemical Industry. 1991-2003)." Bulletin of Science and Practice, no. 8 (August 15, 2022): 416–23. http://dx.doi.org/10.33619/2414-2948/81/42.
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В статье анализируется экономический кризис в сумгаитской химической промышленности в результате распада СССР и разрыва традиционных экономических связей с бывшими советскими республиками после обретения Азербайджаном независимости и меры, предпринятые для выхода из этого кризиса. Кроме того, рассмотрены установление экономических связей и обмен опытом в химической промышленности с экономически развитыми странами: Германией, США, Турцией, Японией, Великобританией, Кореей, Италией, Болгарией и Испанией, замена физически и морально устаревшего оснащения сумгаитских химических предприятий новым и разработка новых проектов по увеличению производственных мощностей заводов, а также инвестиции этих стран в сумгаитскую химическую промышленность и совместная работа с группой экспертов ЕС по устранению экологической проблемы. The article analyzes the economic crisis in the Sumgait chemical industry as a result of the collapse of the USSR and the severance of traditional economic ties with the former Soviet republics after the independence of Azerbaijan and the measures taken to overcome this crisis. In addition, the establishment of economic relations and exchange of experience in the chemical industry with economically developed countries in the chemical industry: Germany, USA, Turkey, Japan, Great Britain, Korea, Italy, Bulgaria and Spain, replacement of physically and morally obsolete equipment at Sumgait chemical enterprises with new ones and develop new projects to increase the production capacity of factories, as well as the investment of these countries in the Sumgait chemical industry and joint work with a group of EU experts to eliminate the environmental problem were also searched.