Search

Begin New Search Topic digital culture Political Geography Europe

1. Evolve or Perish: The Global Forces Changing the Business of Banks

Author:
Robert Fay and Angelo Arcelli
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Following the 2008 financial crisis, the Group of Twenty embarked on an ambitious financial regulatory reform plan that has seen many banks worldwide make substantial progress in terms of both capitalization and governance. Over this period, banks have also become increasingly exposed to business risks from digitization, artificial intelligence and cybercrime, and major investments are necessary to manage these risks. New regulations have been introduced in the European Union to reduce these risks, but their associated costs have potentially created a lasting competitive disadvantage for European banks. This situation has raised some key questions that deserve to be discussed and investigated: How does regulation — including that outside the sector — affect banks’ ability to compete globally? What will be the impact of fintech players as well as globally active banks from China and other emerging markets? Can the Basel regulatory framework and Financial Stability Board (FSB) ensure a level playing field globally going forward, or has the regulatory pendulum swung too far? How will the supervisory approach need to be adapted to the changing structure of the global financial system? Moreover, how will the implementation of Basel reforms affect the industry? These and other questions remain about the effectiveness of the already-achieved reforms as well as their future direction. These issues were at the core of CIGI and Oliver Wyman’s fifth annual Financial Regulatory Outlook Conference, held in Rome on November 28, 2018. This conference report summarizes the key points of discussions at the conference, with a special focus on the 10 years of regulatory reform that was conducted under the auspices of the FSB and the new forces that are currently affecting banks and could have an impact on the future.
Topic:
Financial Crisis, Regulation, Europe Union, and digital culture
Political Geography:
Europe and Global Focus

2. The role of consumer generated contents in the music industry: conflicts and perspectives

Author:
Hector Fouce
Publication Date:
04-2016
Content Type:
Working Paper
Institution:
Fundación Alternativas
Abstract:
Digital culture already is the present in which we live. The wounds of transition from the analogue model are being gradually left behind and a new model of culture has taken root in our societies. A model whereby users are no longer limited to consume what the media and cultural societies generate, but are now active elements in their circulation and, often, of creativity itself. Evidentently, this new model has generated disruptions and transformations, which, in the case of music, were initially dramatic. But right now the music market is taking advantage of the oportunities in the Internet, and has been growing during the last four years, with the digital market in Spain receiving in 2016 over one hundred million Euros -61% of its revenue. (Promusicae, 2017), while a new panorama is consolidating with new actors, new relationships among them and new ways of action from authors, industries, technologies and users. This work will explore the exisiting interweaving tensions, endeavoring to point out some ecommendations towards a horizon that brings together the potentialities of technologies, the fair remuneration of those whose way of life is music, and the daily practices of the listeners who make music so important .
Topic:
Mass Media, Culture, Internet, and digital culture
Political Geography:
Europe, Spain, and Western Europe