2007年8月美國爆發次貸危機(Subprime Crisis)，如此新型態的金融危機是否可由金融危機預警系統預測？是本文所欲探討的目標。本文採用訊號方法、固定效果下的Panel Logit Model和CART(Classification and Regression Tree)三種計量方法建構危機預警模型。最後利用美國2006年至2008年資料，驗證本文所建構之預警模型是否能夠有效預測次貸危機的發生。 / “Could banking early warning systems help to predict Sub-prime crisis?” That is the main issue that we want to discuss. We combine three kinds of early warning systems models – Signal Approach, fixed effect panel logit model, and CART approach – to create a new banking early warning system(EWS). We will use the US 2006-2008 data to examine whether this new EWS could predict the Sub-prime crisis correctly.

<p>This dissertation explores the potential contributions of the mechanisms for early warning and intelligence sharing to regional security in Africa. The Continental Early Warning System (CEWS) and the Committee on Intelligence and Security Services of Africa (CISSA) are centrally concerned with the dissemination of information to enable decision-making on continental security. The main focus of the dissertation is on the manner in which the information generated by the CEWS and CISSA can contribute to regional security. In order to analyse the potential contribution of the CEWS and CISSA to regional security, a sound theoretical framework is proposed so as to explore how and why states choose to cooperate, as well as addressing multifaceted cooperation and integration at inter-state, government department and nonstate levels. Constructivist interpretations of international cooperation are utilised to explore the role of ideas, meanings and understandings in shaping behaviour. The focus is placed on the manner in which interaction as provided for by the CEWS and CISSA can shape understandings of reality and potentially impact on the definition of actors&rsquo / interests. This is based on the assumption drawn from security community and epistemic community theory that, enabling the creation of shared meanings and shared knowledge there is the potential for both the CEWS and CISSA to have a positive influence on the choices that stakeholders take in favour of peaceful change.</p>

<p>This dissertation explores the potential contributions of the mechanisms for early warning and intelligence sharing to regional security in Africa. The Continental Early Warning System (CEWS) and the Committee on Intelligence and Security Services of Africa (CISSA) are centrally concerned with the dissemination of information to enable decision-making on continental security. The main focus of the dissertation is on the manner in which the information generated by the CEWS and CISSA can contribute to regional security. In order to analyse the potential contribution of the CEWS and CISSA to regional security, a sound theoretical framework is proposed so as to explore how and why states choose to cooperate, as well as addressing multifaceted cooperation and integration at inter-state, government department and nonstate levels. Constructivist interpretations of international cooperation are utilised to explore the role of ideas, meanings and understandings in shaping behaviour. The focus is placed on the manner in which interaction as provided for by the CEWS and CISSA can shape understandings of reality and potentially impact on the definition of actors&rsquo / interests. This is based on the assumption drawn from security community and epistemic community theory that, enabling the creation of shared meanings and shared knowledge there is the potential for both the CEWS and CISSA to have a positive influence on the choices that stakeholders take in favour of peaceful change.</p>

Zusammenschlüsse über Firmengrenzen hinweg sind mit Risiken verbunden, besonders bei Einbindung von Mitarbeitern. Ein neu entwickeltes Frühwarnsystem ermöglicht ein rechtzeitiges Eingreifen in die Kooperationsprozesse, bevor eine erfolgsmindernde Wirkung einsetzen könnte. Es basiert auf Forschungsergebnissen zu Führung und Mitarbeitermotivation in Projektgruppen und orientiert sich an den Erfahrungen von Managern bei der Gestaltung interorganisationaler Zusammenarbeit. Die informationsund kommunikationstechnische Umsetzung dient dem ökonomischen orts- und zeitflexiblen Einsatz sowie einer schnellen Rückmeldung. Inzwischen wurde das Frühwarnsystem in verschiedenen Kooperationsprojekten eingesetzt und von den Beteiligten positiv angenommen.

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金融機構預警制度在性質上兼具金融管理及經營評鑑之雙重功能，且對於金融危機具有預防及警戒作用之制度，其意義係依據有關之金融法規與金融業務之經營原則，選定若干變數而訂定一套預警函數、指標、臨界值或基準值、判別模型等，將能夠數據化之部份，利用電腦處理資料並進行統計分析與審察，對於未符合規定、逾越警戒範圍之異常數或脫軌狀況，經過測試與核算後，發出預警信號，以促使主管機關或金融機構（或稱銀行）本身提早注意，並加以防範、及時糾正與改善，以促進其健全經營之制度。 近幾年來，在金融國際化與自由化影響下，金融機構業務已日趨複雜，金融監理機關所擔負的責任也越加沈重，為解決此一困境，如何善用場外監控工具，以彌補實地檢查之不足，應是強化當前金融監理制度的有效方案。我們都知道金融監理機關越來越重視場外監控工作，其中最廣為人知且有效發揮其功能的就是「金融預警系統」，它能評估金融機構績效、篩選問題金融機構及顯示有關警訊等功能，如今已成金融監理機關重要輔助工具之一。 關鍵詞：金融機構預警制度、金融機構、金融監理 / Financial early warning system is a line both in the nature of financial management and operational evaluation of the dual function. To the financial crisis, With the role of prevention and warning system. The significance of means in accordance with relevant laws and regulations of the financial business and financial management principles. Certain number of selected variable set of a number of warning function, indication), cutoff or decimal value, discriminant model. According to the number of data, after testing with the accounting, it cause alarm or signal, so that the issue of the fail to meet the requirement, beyond the scope of the warning or to derail the number of abnormal conditions. To encourage the competent authorities or financial institutions (or banks) early attention to itself. By prevent and promptly correct and improve, to promote the sound management of the system. In recent years, financial institutions have become increasingly complex business and responsible for financial supervision authorities increasingly heavy responsibility, under the influence of the financial internationalization and liberalization. To solve this dilemma, how to make the best use of off-site monitoring tool, make up for lack of spot checks. It should be an effective program to strengthen the current financial supervision system. We all know that more and more attention to the financial supervisory authorities to the work of off-site monitoring. One of the most well-known and effective functioning is the “financial early warning system”. It could assess the performance of financial institutions, financial institutions and the issue of screening show that the functions of the police. For the financial supervision authorities, one of the important auxiliary tool, today. Keywords: financial early warning system, financial institutions, financial supervision

自1980年代各國推行金融自由化後，為穩定金融秩序，建立風險導向金融監理制度更顯重要。一般來說，金融監理工具可分為實地檢查及場外監控兩種，過去以行業別進行之監理，在金融控股公司的發展下，亦發展出對應之監控機制，然而僅止於實地檢查機制，以金融集團為預警對象之場外監控預警系統仍有待建立。 本研究遂在探討如何建立適合我國之以金融集團為預警對象的場外監控預警系統，挑選2003、2004年兩年之本國銀行、票券、證券、壽險、產險公司財務業務比率為樣本，以區別分析法建立預警模型，再以各金融控股公司之子產業公司結果建立各年度金融控股公司之預警模型。 本研究僅嘗試以財務比率建立量化場外監控預警模型，研究結果僅供學術上研究參考，並非運用於真實狀況之評斷，因此，依研究結果提出之結論及建議，僅供參考。此外，(1)模型並未加入質化指標，(2)資料有限的情況下，亦無做樣本外測試，(3)無實際破產金融機構資料，僅能以模擬方法分類，皆是本研究不足之處，仍須修正及改進。

Les crises monétaires sont les premières crises financières de l'histoire économique. Elles se traduisent par l'élimination ou la substitution des monnaies nationales. L'objectif de cette thèse est de poser les fondements théoriques et empiriques des crises monétaires, mais également de proposer un cadre de prévention de ce type de crise qui sévit en zone euro depuis 2008. Les débats économiques et politiques actuels autour des questions de désintégration monétaire témoignent de la persistance et de l'ampleur de la crise, où la légitimité et la souveraineté de la monnaie unique est menacée à moyen long terme. Les divers plans de sauvetage et les politiques d'austérité dans les pays-membres en difficulté ne sont que les conséquences et les coûts directs d'une telle crise. Ces derniers doivent interpeller les autorités de supervision à une plus grande vigilance, ainsi qu'à une politique de prévention plus avisée. L'objectif de cette thèse est double : dans une première partie, nous analysons le concept, les fondements historiques et théoriques des crises monétaires, puis dressons une typologie de celles-ci. Dans une seconde partie, nous apportons une contribution empirique relative aux déterminants des crises monétaires en zone euro et proposons un outil de prévention des crises monétaires, grâce à la mise en place d'un système d'alerte avancée (Early Warning System), par l'approche économétrique de type logit multinomial. Pour ce faire, la détection et la mesure des mésalignements des taux de change réels à l'intérieur de la zone euro est cruciale, puisqu'il constitue l'indicateur premier des crises monétaires. L'estimation des taux de change d'équilibre permettent ainsi d'apprécier la sur ou sous-évaluation des monnaies, indispensable à la mise en place d'un système d'alerte avancée, à des fins de prévention des crises monétaires. / Monetary crises are the first financial crises in economic history, which result in the elimination or substitution of national currencies. The aim of this thesis is to study the theoretical and empirical foundations of monetary crises. Furthermore, a framework for the prevention of such crises, raging in the Euro zone since 2008, is provided. The current economic and political debates about this issue reflect the persistence and the extent of this crisis, in which the Euro's legitimacy and sovereignty is threatened in the medium term. The various rescue plans and austerity policies in troubled member states are direct consequences and costs of this crisis. Consequently, supervisory authorities need to be more vigilant in strengthening their prevention policy. The purpose of this thesis is twofold: in the first part, we analyze the concept, the historical and theoretical foundations of monetary crises, and then develop a typology of them. In the second part, we provide an empirical contribution on the determinants of monetary crises in the euro area and propose a tool for preventing currency crises by setting up an Early Warning System, through the econometric approach of the multinomial logit model. As the primary indicator of monetary crises, the detection and measurement of real exchange rate misalignments within the euro area is decisive. The equilibrium exchange rates estimation allows the assessment of currency over- or undervaluation, which is essential for the implementation of an early warning system

Magister Artium - MA / This dissertation explores the potential contributions of the mechanisms for early warning and intelligence sharing to regional security in Africa. The Continental Early Warning System (CEWS) and the Committee on Intelligence and Security Services of Africa (CISSA) are centrally concerned with the dissemination of information to enable decision-making on continental security. The main focus of the dissertation is on the manner in which the information generated by the CEWS and CISSA can contribute to regional security. In order to analyse the potential contribution of the CEWS and CISSA to regional security, a sound theoretical framework is proposed so as to explore how and why states choose to cooperate, as well as addressing multifaceted cooperation and integration at inter-state, government department and nonstate levels. Constructivist interpretations of international cooperation are utilised to explore the role of ideas, meanings and understandings in shaping behaviour. The focus is placed on the manner in which interaction as provided for by the CEWS and CISSA can shape understandings of reality and potentially impact on the definition of actors' interests. This is based on the assumption drawn from security community and epistemic community theory that, enabling the creation of shared meanings and shared knowledge there is the potential for both the CEWS and CISSA to have a positive influence on the choices that stakeholders take in favour of peaceful change. / South Africa