In existing economic literature on finance and economy, it is argued and generally accepted that financial intermediation contributes to economic growth though the contending argument is that financial development is simply a result of economic growth. However, studies on the contribution of financial intermediation of nonbanks (as opposed to banks) to economic growth are relatively scant and too general to clarify the mechanism through which nonbank financial intermediation might help economy to expand and develop. The focus of this study is on whether nonbank financial intermediation contributed to economic growth in the case of Korea where the share of nonbank financial intermediation increased from around 20% in 1970 to more than 60% in the early 1990's. This study is particularly interesting in light of the fact that rapid economic growth in Korea was accompanied by a concomitant increase in the share of nonbank financial intermediation. As a precursor to the empirical analysis, this study shows theoretically that financial intermediation of nonbanks subject to lesser liquidity control is complementary to, rather substitutional for, that of banks. Further, it is shown by optimizing a two-period dynamic model that under certain conditions nonbank intermediation increases an economy's savings mobilization and contributes to the economic growth. For empirical analysis, we used the annual data from 1972 to 1994 which can be considered as a financially repressed period. The empirical results are all consistent with the theoretically expected: nonbanks are complementary to banks in financial intermediation, increased the savings mobilization, and in the end contributed to the economic growth of the Korean economy during the sample period. Further, the estimated allocative efficiencies of nonbanks are almost in phase with business cycles, which may well be interpreted as consistent with the proposition that nonbanks financial intermediation made a significant contribution to Korea's economic growth.

The focus of the research is on the role of Temporary Help Agencies (ETT) as intermediaries in the labor market. An ETT can be defined as a service firm that hires temporary workers and sends them out to do temporary work on the premises of and under the supervision of client firms solicited from the business world. That is, their basic function consists of connecting labor demand and labor supply. However what makes the difference with respect to other labor market intermediaries (such as, for example, employment agencies) is the fact that workers contracted through ETT remain on the ETT' payroll while under the direction of the client firm, giving way to a triangular relationship between the client firm, the worker and the ETT which has broken the traditional bilaterality of labor relationships. That is, there exists a standard labor contract for a limited duration between the ETT and the worker and a commercial contract (called assignment contract) between the ETT and the firm, so that both market and employment relationships are established. Therefore, from the point of view of the worker it is as if she were subject to two different employers: the ETT, who hires the worker, and the client firm, who receives worker services.Why the study and implications of ETT work for workers are important lie on the fact that there exists a substantial number of questions related to ETT work to which currently we have no answers and little data to explore them. In this context, this thesis is concerned with providing evidence on dynamic labor market patterns of ETT-intermediated work, on which to our knowledge no work so far has been done. In particular, the thesis is presented as follows: Chapter 1 deals with a review of the most relevant literature underlying what we know so far on ETTs as well as introducing potential research questions which are yet unresolved. Chapter 2 and chapter 3 establish the theoretical framework on which the last two chapters are based. Chapter 2 establishes a framework for analyzing the possibility that ETT-work may provide workers with opportunities for acquiring new skills and applying them in a better job to be located in the future after leaving the ETT, thus improving wage prospects. Chapter 3 develops a model in which ETTs are considered as means to attenuate information asymmetry in the labor market, which may allow workers to improve promotion chances. And, finally, Chapters 4 and 5 deal with the empirical testing of the main two hypotheses established in the previous two chapters. / El núcleo de la presente investigación consiste en analizar el papel de las Empresas de Trabajo Temporal (ETT) como intermediarios en el mercado de trabajo. Puede definirse a una ETT como una empresa de servicios que contrata trabajadores temporales para asignarlos en cesión a empresas clientes. Por tanto, su función básica consiste en conectar la demanda y la oferta de trabajo. Sin embargo, el aspecto que diferencia a estas agencias de otros intermediarios en el mercado laboral (como, por ejemplo, las agencias de empleo) radica en que los trabajadores contratados por medio de ETT pertenecen formalmente a la plantilla de la ETT mientras que trabajan bajo la dirección de la empresa cliente. Esta peculiaridad origina una relación triangular entre la empresa cliente, el trabajador y la ETT que ha roto la bilateralidad tradicional de las relaciones de empleo. Es decir, existe un contrato estándar de trabajo temporal entre la ETT y el trabajador, y un contrato de carácter mercantil (denominado contrato de puesta a disposición) entre la ETT y la empresa cliente. Por tanto, se establecen tanto relaciones mercantiles como relaciones laborales. Así, desde el punto de vista del trabajador es como si estuviera sujeto a dos empleadores distintos: la ETT, que lo contrata formalmente, y la empresa cliente, que disfruta de sus servicios laborales.El estudio de las implicaciones que presenta la intermediación de las ETT para los trabajadores resulta importante porque existe un número sustancial de preguntas relacionadas con el trabajo a través de ETT sobre las cuales todavía no se ha ofrecido respuestas. En este contexto, la tesis aporta evidencia sobre aspectos dinámicos de la intermediación en el mercado laboral de las ETT, aspecto sobre el cual hasta el momento no se ha investigado lo suficiente. En concreto, la tesis consta de las siguientes partes: el Capítulo 1 lleva a cabo una revisión de la literatura más relevante sobre estos intermediarios e introduce preguntas de investigación que no han sido contestadas hasta el momento. Los Capítulos 2 y 3 establecen el marco teórico sobre el cual se fundamentan los dos últimos capítulos. El Capítulo 2 analiza la posibilidad de que el trabajo por medio de ETT ofrezca a los trabajadores oportunidades para adquirir nuevas habilidades y aplicarlas en mejores empleos conseguidos a través del intermediario. El Capítulo 3 desarrolla un modelo en el que las ETT son consideradas como un medio para atenuar la información asimétrica en el mercado laboral, aspecto éste que puede permitir a los trabajadores mejorar sus posibilidades de salir de la temporalidad. Finalmente los Capítulos 4 y 5 contrastan empíricamente las dos hipótesis principales presentadas en los dos capítulos previos.

Zugl.: Stuttgart, Universiẗat, Diss., 2009.

Innovation hub organizations - or 'hubs' - have become a prevalent form of support for technology entrepreneurship in Africa. About 170 African hubs have been established, most since 2010. Practitioners have argued either that hubs are transformative network infra-structures for Africa's fledgling digital economy or that they are ineffective business incubators. This thesis steps back from this debate about whether hubs work. Instead, it asks how African hubs work, specifically how they shape relationships of technology entrepreneurs. Literature on intermediation and incubation is reviewed to establish a theoretical framework. The thesis then tests and extends the framework based on an extensive, grounded empirical inquiry. In-depth case study data (including 119 interviews with 133 participants) on six hubs were collected during field studies in Kigali, Harare, and Accra from September-December 2014. The thesis finds that the analyzed hub organizations were defined by nested, fluidly bounded entrepreneurial communities. Communities varied by their level of activation: mem-bers of active communities had concern for each other and recognized communities as social entities, while inactive community members only shared a loose purpose. The six hubs followed two distinct organizational patterns: the technology hub (depending on active core communities) and the entrepreneurship hub (relying on active peripheral communities). Based on these results, the thesis theorizes hubs as assemblers of technology entrepreneurs: hubs assemble previously distant and different actors into entrepreneurial communities. Assembly is unique to hubs: it is related to but different from incubation and most forms of intermediation. Assembly theory addresses important meso-level analytical gaps in prior research on the coordination and organization of entrepreneurship. The thesis underscores limitations in African technology entrepreneurship environments, advising hub practitioners to acknowledge that 'only what is there can be assembled.' Ultimately, it highlights that hubs have been critically misunderstood, and clarifies what hubs can and cannot do for technology entrepreneurs.

In 2014, European heads of state selected new targets for the EU as part of the 2030 climate and energy framework. The targets will guide the ambition and nature of EU policy in this area until 2030 and are likely to have important implications for Europe’s transition to a low-carbon economy. The decision taken by the European Council was preceded by several years of vigorous interaction between interest groups, the European Commission and the member states. The outcome of this interaction set the agenda for EU climate and energy policy but the role of interest groups in climate and energy policy, especially relative to important economic ideas, is relatively under researched. By augmenting and applying the multiple streams approach developed by John Kingdon in the 1980s and using process-tracing techniques, this thesis contributes a detailed case study of this important instance of European interest representation. It is found that the complex and dynamic political context for the interaction made planning and executing advocacy campaigns challenging for all actors. The debate about the 2030 framework is shown to hinge on the idea of technology-neutrality and its status on the policymaking agenda. A number of policy coalitions are observed with a wide range of characteristics, some novel. Several attempts at ‘policy entrepreneurship’ by interest groups are recorded but most were disrupted by the confused and fast-changing political situation. It is shown that a combination of spill-over between policy windows, framing and coalition building activity served to push the idea of technology neutrality up the agenda. The multiple streams approach is shown to be broadly applicable to the research context and aims but greater agency over policy windows than originally assumed must be granted to actors and the possibility for successful policy entrepreneurship to yield unintended policy outcomes allowed for.

Modern banking theories provide a host of explanations for the existence of intermediaries, highlight their important influence on economic growth, delineate the risks inherent in the services they provide, and illustrate the market failures and real costs of bank failures that precipitate the need for regulation and oversight of the sector. This thesis is a collection of three essays that looks at three of these key aspects of financial intermediaries - the development of financial intermediaries, the function of the lender of last resort that has emerged as an important part of the safety net afforded to financial intermediaries, and the occurrence of financial crises. The first chapter of this thesis provides an introduction to the academic literature on financial intermediation covering different theories put forward to explain their emergence, and highlighting the risks inherent in their operation. It emphasizes the crucial functions they perform in the economy and makes a case for regulation and oversight of the sector to reduce the incidence and alleviate the effects of financial crises. The second chapter seeks to determine the policy and institutional factors that influence the development of financial institutions as measured across three dimensions - depth, efficiency, and stability. Applying the concept of the financial possibility frontier, developed by Beck and Feyen (2013) and formalized by Barajas et al. (2013b), we determine key policy variables affecting the gap between actual levels of development and benchmarks predicted by structural variables. Our dynamic panel estimation shows that inflation, trade openness, institutional quality, and banking crises significantly affect financial development. We also assess the impact of the policy variables across the different dimensions of development thereby identifying complementarities and potential trade-offs for policy makers. The third chapter models the role of the lender of last resort (LoLR) in a general equilibrium framework. We allow for heterogeneous agents and a risk-averse banking sector, and incorporate the frictions of endogenous default, liquidity, and money. Adverse supply shocks in monetary endowments trigger default, leading to deterioration in the value of bank assets, and subsequent bank illiquidity in some states of the world. LoLR intervention is then assessed with regards to its economy-wide effect on welfare, bank profitability, and the level of default. The results provide a justification for constructive ambiguity. The fourth chapter aims to provide an explanation for the incidence of financial crises by combining insights from agency theory and Minsky's financial instability hypothesis (Minsky, 1992) in a model with endogenous default. Our theoretical model shows that the probability of a financial crisis increases as the quality of shareholder information decreases. We then develop a measure for the quality of shareholder information following Simon (1989) and show that the market-wide quality of shareholder information: i) is poor (with no trend) in the Pre-SEC period (1840 to 1934); ii) improves substantially following the SEC reforms; and iii) gradually declines starting in the 1960s/70s until it is now back to pre-SEC levels. This matches up with the standard list of US financial crises (as in Reinhart and Rogoff 2009; Reinhart 2010) and supports our hypothesis that the likelihood of a financial crisis increases with deterioration in the quality of shareholder information.

Submitted by Suelen Reis (suziy.ellen@gmail.com) on 2013-04-25T17:33:31Z No. of bitstreams: 1 Tese - Eduardo Boaventura.pdf: 789299 bytes, checksum: 71b6fb82c1550c4a40b41a9d744281ba (MD5) / Approved for entry into archive by Maria Auxiliadora Lopes(silopes@ufba.br) on 2013-06-10T19:10:36Z (GMT) No. of bitstreams: 1 Tese - Eduardo Boaventura.pdf: 789299 bytes, checksum: 71b6fb82c1550c4a40b41a9d744281ba (MD5) / Made available in DSpace on 2013-06-10T19:10:36Z (GMT). No. of bitstreams: 1 Tese - Eduardo Boaventura.pdf: 789299 bytes, checksum: 71b6fb82c1550c4a40b41a9d744281ba (MD5) Previous issue date: 2010 / Esta investigação analisa a relação existente entre radicalidade filosófica, autoconhecimento e educação. O método utilizado na pesquisa é fenomenológico e hermenêutico. Sendo assim, busca-se o fenômeno da filosofia e da educação mais no seu desenvolvimento processual do que em resultados estatísticos. A pesquisa quer ressaltar o sentido de uma educação filosófica: o despertar de uma consciência que se encaminha para o autoconhecimento. A presente tese propõe ainda um método para o ensino da filosofia: a mediação dialógica indagante. Este método acredita que o ensino da filosofia, se quiser despertar no educando o processo do autoconhecimento, precisa nortear-se em dois princípios essenciais: o diálogo e o questionamento. / Salvador

Cette thèse se propose d'étudier une activité et des organisations singulières, le brokerage et les sociétés d'intermédiation financière de type Prestataire de Service en Investissement - encore appelée récemment société de bourse - sur EURONEXT France. L'idée est d'éclairer, à partir des pratiques des acteurs qui y sont impliqués et leurs interactions avec leur environnement, le processus de formation de la stratégie entendu comme agir stratégique ou « strategizing » dans la perspective de la Strategy-as- Practice. Ce type d'organisation, inséré dans le système financier aujourd'hui très prégnant économiquement et socialement, nous semble particulièrement intéressant car au centre de développements en microstructure et en sociologie de la finance mais peu observé du point de vue du management stratégique. Il est soumis à des transformations importantes depuis deux décennies ayant pour conséquences, plus ou moins apparentes, des tensions internes voire des dérapages. / The aim is to contribute to the research agenda of “Strategy As Practice” taking a practice perspective and showing how practitioners are also engaged in the creation process or strategizing for their own professions and their institutional positions. After a long period of stability, the French stock exchange environment and its associated practices have, for over two decades now, co-evolved very quickly. One category of stock market professionals has been particularly impacted: the brokers, historically at the heart of the Stock Exchange. On French financial markets, the former agents de change have become brokerage companies with some disruptions of professions and an increasing place for others and their practices. If the usefulness of brokerage as an intermediation activity has been examined by finance, interesting developments in the sociology of finance have also enabled the social construction perspective but there is a lack of studies in the strategic management.

Submitted by Caio Teles (caio_act@hotmail.com) on 2013-09-26T18:52:08Z No. of bitstreams: 1 Dissertação - Caio.pdf: 249330 bytes, checksum: a3aa165cfa955b84e1621a3c404da19c (MD5) / Approved for entry into archive by Janete de Oliveira Feitosa (janete.feitosa@fgv.br) on 2013-09-27T13:32:40Z (GMT) No. of bitstreams: 1 Dissertação - Caio.pdf: 249330 bytes, checksum: a3aa165cfa955b84e1621a3c404da19c (MD5) / Approved for entry into archive by Marcia Bacha (marcia.bacha@fgv.br) on 2013-09-30T12:55:22Z (GMT) No. of bitstreams: 1 Dissertação - Caio.pdf: 249330 bytes, checksum: a3aa165cfa955b84e1621a3c404da19c (MD5) / Made available in DSpace on 2013-09-30T12:55:31Z (GMT). No. of bitstreams: 1 Dissertação - Caio.pdf: 249330 bytes, checksum: a3aa165cfa955b84e1621a3c404da19c (MD5) Previous issue date: 2013-06-28 / This paper analyzes the distribution of money holdings in a commo dity money search-based mo del with intermediation. Intro ducing heterogeneity of costs to the Kiyotaki e Wright ( 1989 ) mo del, Cavalcanti e Puzzello ( 2010) gives rise to a non-degenerated distribution of money. We extend further this mo del intro ducing intermediation in the trading pro cess. We show that the distribution of money matters for savings decisions. This gives rises to a xed p oint problem for the saving function that di cults nding the optimal solution. Through some examples, we show that this friction shrinks the distribution of money. In contrast to the Cavalcanti e Puzzello ( 2010 ) mo del, the optimal solution may not present the entire surplus going to the consumer. At the end of the pap er, we present a strong result, for a su cient large numb er of intermediaries the distribution of money is degenerated.

L’action publique pour stimuler le développement économique des territoires vise de plusen plus à favoriser l’innovation et l’économie de la connaissance, perçues toutes deux commeles conditions nécessaires au développement de la compétitivité, à la fois des entreprises etdes territoires. Cette thèse porte sur une politique française engagée dans ce référentiel dela compétitivité en 2004 : la politique des pôles de compétitivité.Cette dernière, inscrite au confluent des politiques industrielles et d’aménagement, apour objectif de stimuler des comportements innovants et collaboratifs entre les milieux del’économie, de l’enseignement supérieur et de la recherche d’un même territoire à travers laconstitution de « pôles de compétitivité ». Nous nous intéressons à un aspect encore peuétudié de ces pôles de compétitivité : leur impact dans la gouvernance territoriale. En effet,nous montrons, à partir d’une analyse comparée entre six études de cas du sud-ouest, queles pôles apparaissent comme des structures d’intermédiation, favorisant certes l’action collaborativeentre des acteurs économiques et scientifiques d’un même territoire, mais aussi etsurtout entre des acteurs politico-administratifs jusque-là peu habitués à travailler ensemble.En cela, la politique des pôles renouvelle les modes de gestion publique territoriale. Deuxaspects sont alors développés au cours de la thèse : d’une part la manière dont l’État conçoitles pôles de compétitivité comme des nouveaux espaces renouvelant les interactions entre lesacteurs économiques et politico-administratifs (de différents secteurs et différents niveaux) ;et d’autre part, la manière dont ces pôles émergent et se consolident comme des entités à partentière ayant un fonctionnement propre et un rôle à jouer dans la gouvernance territoriale.Le cas des pôles de compétitivité nous permet ainsi de revenir sur la notion de territoire,qui ne coïncide plus avec la définition d’une circonscription. En mobilisant les travaux deClaude Raffestin, nous considérons les pôles comme des territoires discontinus, organisés enréseau, développant des fonctionnements propre à chacun « dans la recherche de la plusgrande autonomie possible compte tenu des ressources du système » / The public action(share) to stimulate the economic development of territories aims more and more at favoring the innovation and the economy of the knowledge, perceived(collected) both as the conditions necessary for the development of the competitiveness, at the same time the companies and the territories. This thesis(theory) concerns a French politics(policy) committed(hired) in this reference table of the competitiveness in 2004: the politics(policy) of the poles of competitiveness. The latter, registered on the confluence of industrial policies and arrangement(development), has for objective to stimulate innovative and collaborative behavior between the circles of the economy, the higher education and the search(research) for the same territory through the constitution of " poles of competitiveness ". We are interested in an aspect still little studied by these poles of competitiveness: their impact in the territorial governance. Indeed, we show, from an analysis compared between six case studies of the southwest, that the poles appear as structures of intermediation, favoring certainly the collaborative action between economic and scientific players of the same territory, but also and especially between politico-administrative actors up to there been little used to work together. In that respect, the politics of the poles renews the modes of territorial public management. Two aspects are then developed during the thesis(theory): on one hand the way the State conceives(designs) the poles of competitiveness as new spaces renewing the interactions between the economic and politico-administrative players (of various sectors and various levels); and on the other hand, the way these poles emerge and strengthen as full entities having a clean(appropriate) functioning and a role to play in the territorial governance. The case of the poles of competitiveness so allows us to return on the notion of territory, which does not coincide any more with the definition of a district. By mobilizing Claude Raffestin's works, we consider the poles as intermittent territories, organized in network, developing functionings appropriate(peculiar) to each " in the search(research) for the biggest possible autonomy considering the resources of the system "