Political Geography: Global Focus / Topic: Securitization

Author:: Jordi Bonet
Publication Date:: 12-2022
Content Type:: Journal Article
Journal:: Journal on International Security Studies (RESI)
Institution:: International Security Studies Group (GESI) at the University of Granada
Abstract:: Este estudiopretende realizar una reflexión, desde una aproximación esencialmente político-jurídica internacional, sobre la pobreza como un vector susceptible de generar amenazas a la seguridad, tanto desde una perspectiva global como interna de los Estados. Sin desdeñar un enfoque de este tenor (especialmente, si es un enfoque desde el prisma de la seguridad humana), se entiende que la securitización de la lucha contra la pobreza no es demasiado útil para abordarlos problemas que genera y potenciar el desarrollo. Se aboga por orientar la centralidad político-jurídica de la lucha contra la pobreza desde su comprensión como un asunto de interés público global, al que el planteamiento programático de los ODS y el Derecho internacional de los derechos humanos ofrecen una base regulatoria sólida (sin perjuicio de las dificultades reales de llevar a cabo este programa y ejecutar las normas jurídicas internacionales sobre derechos humanos). Asimismo, no se ha querido dejar de lado la importancia colateral, pero propia, de la desigualdad.
Topic:: Human Rights, Poverty, Governance, Inequality, Sustainable Development Goals, and Securitization
Political Geography:: Global Focus

Author:: Jocelyne Cesari
Publication Date:: 09-2021
Content Type:: Journal Article
Journal:: Brown Journal of World Affairs
Institution:: Brown Journal of World Affairs
Abstract:: The work of Samuel Huntington, first presented in a 1993 article in Foreign Affairs and subsequently elaborated upon in his 1996 book Clash of Civiliza- tions, has shaped the perception of the role of religion in general, and Islam in particular, in international conflicts.1 Huntington argued that Islam is uniquely incompatible with and antagonistic to the core values of the West, values which he defines as democracy and equality of individuals. Since Huntington first presented his work, much ink has been spilled by scholars attempting to invali- date his thesis. They show that civilizations are not homogenous or monolithic players in world politics with an inclination to “clash,” but rather that they consist of pluralistic, divergent, and convergent actors and of practices that are constantly evolving.2 Nonetheless, Huntington’s concept of the “Clash” has remained relevant in political discourse and in the media.
Topic:: Islam, Identity Politics, Securitization, and Threat Perception
Political Geography:: Global Focus

Author:: Photis Lysandrou and Anastasia Nesvetailova
Publication Date:: 01-2020
Content Type:: Working Paper
Institution:: City Political Economy Research Centre (CITYPERC), University of London
Abstract:: Safe assets and shadow banking are two closely linked phenomena in contemporary finance. The link is loan securitisation: at a time of a global safe asset shortage, it falls on the shadow banking system to help make good that shortage by manufacturing extra quantities of asset backed securities. When these quantities cannot keep up with volume of safe asset demand, the shadow banking system comes under pressure to manufacture the type of complex structured securities that can potentially cause a financial crisis. That potentiality became reality with the great financial crisis of 2007-8. If a further financial crisis of this scale is to be averted, the regulation of the shadow banking system should be informed by an understanding of the contemporary socioeconomic circumstances that continue to cause a global safe asset shortage. This paper attempts to contribute to such an understanding.
Topic:: Financial Crisis, Banking, Securitization, and Safe Asset
Political Geography:: Global Focus

Author:: Michele Fabrizi and Antonio Parbonetti
Publication Date:: 01-2013
Content Type:: Working Paper
Institution:: City Political Economy Research Centre (CITYPERC), University of London
Abstract:: The paper investigates the role of CEO¶s equit\ and risk incentives in boosting securitization in the financial industry and in motivating executives to reduce the perceived risk while betting on it. Using a sample of US financial institutions over the period 2003-2009 we document that CEOs with high equity incentives have systematically engaged in securitization transactions to a larger extent than CEOs with low incentives. We also show that CEOs with high equity and risk-related incentives have engaged in the securitization of risky loans and have used securitization for transferring risks to outside investors. Finally, we show that executives incentivized on risk have provided outside investors with low quality disclosure about losses recorded on securitized loans thus contributing to increase the opacity of securitization transactions undertaken. Overall, we interpret our results as evidence that CEOs have foreseen in securitizations under US GAAP an opportunity for hiding risks while bearing them and generating profits and cash flows because of the risks. Our results are robust to several model specifications as well as to endogeneity concerns.
Topic:: Financial Crisis, Securitization, CEOS, and Compensation
Political Geography:: Global Focus

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