Abstract While the relationship between the economy and trade between the Republic of China and the People's Republic of China are quite close, the financial industries are enlarging their development rapidly, which influence the banking industry as well. The main topic of this article is, after the Memorandum of Understanding (MOU) signed between Taiwan and mainland China, whether or not, we can build an efficient financial supervisory mechanism, which is necessary to ensure both safety and development in the financial sector. There were cases of serious financial malpractice, which resulted from the lack of a thorough financial governance system. Because the financial environment is changing very quickly, we expect some faults at first but eventually it should ultimately be a cleansing process. We anticipate minor problems with the new regulation, however, some fixes should be found as soon as possible. Also, only when problems emerge, can we reasonably evaluate whether the governance system is working properly. Thus we understand the importance of well-performing supervisory systems. Effectively, the MOU will serve as a benchmarked reference guide for directors of financial institutions when revising financial governance systems. This article first discusses current financial governance systems between R.O.C and P.R.C and takes the existing agreement as a base to discuss how corporate financial governance systems are handled now. Then the article will analyze the influence and impact of the document, and point out what consequence it entails when we sign the MOU. This is to offer the related strategies as a reference for the internal banking industry. This article, therefore; tries to issue proposals of the integration of the financial governance systems of both sides, in order to provoke the normal development on the economy and trade of R.O.C and P.R.C. To sum up, because R.O.C and P.R.C have signed the MOU during 2009 and 2010 and ECFA, we both have to open domestic markets to each other. In this case, both banking industries will be able to access internal operations of one another. In the meantime, Taiwan's finance industry will face a massive and quick change in the economic environment. How to process globalized layout and control risks becomes the principal question of the financial development in the future. Finally, with regards to the industry's long-term development strategy, we should continue to analyze it and address a countermeasure, in order to offer the financial industry an adjustment into the right way; furthermore, we can connect to the global trend and raise the international competition in the financial industry.

The 2008 global financial crisis prompted an extensive re-evaluation of the effectiveness, legitimacy and relevance of the institutions that governed the global economy since the end of the Second World War. This re-evaluation resulted in various attempts to improve the formal and informal structures of global financial governance in order to avoid similar shortcomings in the future. As a result, the G20 developed from a mere suggestion at a G7 Summit in 1999 into a significant society of states ranging from highly developed states to developing states. The G20 is a deliberative forum representing 19 of the world’s leading industrialised and emerging economies and the European Union. Global financial instability resulting from the 1997-1998 Asian financial crisis triggered the establishment of the G20 and informed its mandate to promote international financial stability. Consequently, the G20 became the key agent for the reform of the international financial architecture and has been described as an international steering committee, a premier forum and a cornerstone for international financial cooperation. This study is grounded in the constructivists’ assumption that the international environment should be explained as a social structure constructed by a normative framework. This non-material framework provides both agents (actors, such as, but not limited to, states) and the material environment social identity and legitimacy. Crises in the material environment, however, can result in new identities, interests and norms, a new normative platform for the reform of the system. This study found that the G20, represented by members from the global North and the global South, focused on the reform of the IMF, overseer of global financial processes. Yet, a main finding in this study is that the urgency to reform the IMF disappeared as new global issues emerged on the global agenda. This study also asks how the G20 can become a more effective global actor, an agent of long-term change driven by shared understandings and new norms to ensure the reform of the global financial architecture to increase its stability. / Dissertation (MA)--University of Pretoria, 2018. / Political Sciences / MA / Unrestricted

The 2008 financial crisis revealed systemic weaknesses in the global financial architecture, gave rise to the most severe economic collapse since the Great Depression and engendered a fundamental shift in the prevailing consensus on financial governance. It reminded us of the fragility of the international financial system and the politically unacceptable costs to society when it fails. This dissertation adds to the literature on the governance of private and public sector financial institutions. It presents a conceptual framework of linkage between the governance of financial institutions, systemic risk and financial crises. It is based on a review of the empirical and theoretical literature on the influence of financial regulation and governance on the stability of the international financial system. The dissertation examines the application of financial governance in three different contexts: (i) the introduction of a common regulatory framework for the European securities industry, known as MIFID; (ii) the introduction of a risk governance framework at a US federal agency, the US Export-Import Bank, and (iii) the introduction of performance metrics among Export Credit Agencies that operate within a common governance framework known as the Arrangement on Officially Supported Export Credits. In addition, the dissertation provides specific policy recommendations designed to enhance the portfolio risk management practices of the US Export Import Bank. By extension, these recommendations are relevant to a wider audience of federal agencies with similar portfolio credit risks and may help inform the design of a robust risk management framework that is critical to the government's ability to manage its burgeoning credit portfolio. / Ph. D.

China’s attitude and foreign policies in global financial governance are not consistent. A two-stage model, which is comprised of formation of Guojia Liyi (interests and preferences of China, 国家利益) (Stage I) and decision-making process (Stage II), is established to explain China’s policy inconsistency in global financial governance. Through this model, the thesis makes two major explanations for policy inconsistency. First, China’s Guojia Liyi in various global financial governance institutions and/or events may be different. These different Guojia Liyi are constituted by personal epistemic interests, interests of the state and national interests and are constrained by both material and ideational factors, particularly the domestic and international political economic environment, state ideology and interpretation. Therefore, China’s policies based on these Guojia Liyi vary. Second, even if the Guojia Liyi formed are the same in different events or institutions, the final actions are not always in accordance to the Guojia Liyi due to the influence of some factors on the specific decision-making process, such as lobbying, institutional conflicts and others. The two-stage model explains the policy inconsistency through both ontological and epistemological integration. Ontologically, this model considers structure and agent and treats both state and decision- makers as units of analysis. Epistemologically, this model incorporates both rational and cognitive school of thoughts by separating Guojia Liyi formation with specific decision- making processes and considering time as a crucial variable. / Thesis / Doctor of Philosophy (PhD)

L'examen des systèmes financiers publics des États de l'UEMOA a permis de constater que ces systèmes ont évolué dans le contexte contemporain de la nouvelle gouvernance financière publique. Le souci de la transparence, de la sincérité, de la responsabilité et de l'efficacité, principes cardinaux de la nouvelle gouvernance financière publique, a permis aux États de l'UEMOA sous l'égide de la Commission communautaire de renouveler les bases normatives et institutionnelles de leurs systèmes financiers publics. Les nouvelles normes introduisent une gestion financière publique axée sur les résultats avec une plus grande responsabilisation des acteurs. Elles confortent la suprématie budgétaire du Ministre des finances tout en investissant la direction du budget d'un rôle d'avant-gardiste programmatique en matière budgétaire et le contrôle financier d'une fonction d'évaluation de la dépense publique. Elles ont mis en perspective l'action du Parlement et des juridictions des comptes des États qui doivent mettre la veille à l'efficacité de la dépense publique au cœur de leurs actions. La mise en œuvre des nouvelles normes financières publiques change l'architecture et la méthode d'élaboration du budget qui passe d'une approche de moyen à une approche de résultat. Un ensemble de technicité et de rigueur entour désormais l'élaboration du budget dont les documents de programmation et les mécanismes de conception requièrent plus d'exigences. Les mécanismes et outils de pilotage de la gestion financière des États ont également changé. L'introduction de la responsabilité managériale a rendu nécessaire la mise en œuvre des outils de pilotage empruntés au secteur privé. Mais l'analyse des réalités sociologiques et des capacités internes des États révèle que la corruption, la non application délibérée des textes et l'insuffisance qualitative et quantitative des ressources humaines, matérielles et informationnelles constituent un blocage au bon fonctionnement des systèmes financiers publics. De même, au lieu d'être du "sur mesure" les nouvelles normes paraissent encore être du ''prêt à porter'' et ne tiennent pas toujours compte des réalités sociologiques des États. C'est pourquoi, la présente thèse propose de passer de l'imitation à l'innovation institutionnelle. Elle fait de la consolidation endogène des systèmes financiers publics une condition de réussite qui passe, entre autres, par l'instauration dans les États de la bisannualité budgétaire ; des profils des députés, du comité ordonnateur dans les ministères, de la responsabilisation solidaire du comptable et de l'ordonnateur et de l'instauration d'une responsabilité morale à travers l'implication de la chefferie traditionnelle et des confessions religieuses à la discipline financière. / The review of public financial systems of WAEMU (West African Economic and Monetary Union) States has shown that these systems evolved in the contemporary context of the new public financial governance. The concern for transparency, sincerity, responsibility and efficiency, the cardinal principles of the new public financial governance, allowed WAEMU States under the aegis of the Community Commission to renew the normative and institutional basis of their public financial systems. The new standards introduce a public financial management results-oriented with greater stakeholders accountability. They reinforce the budgetary supremacy of the Minister of Finance while investing the budget department of a pioneering programmatic role in budgetary matters and financial control of an evaluation function of public spending. They put into perspective the work of Parliament and the courts of accounts of States that should ensure the efficiency of public spending at the heart of their actions.The implementation of new public financial standards changes the architecture and the budgeting method that moves from a means approach to a results approach. A set of technicality and rigor now surrounds budgeting with programming documents and design mechanisms need more requirements. The mechanisms and management tools for the financial management of the States have also changed. The introduction of managerial responsibility necessitated the implementation of management tools borrowed from the private sector. But the analysis of sociological realities and internal capacities of the States reveals that corruption, not deliberate application of the texts and the qualitative and quantitative shortage of human, material and information resources are blocking the functioning of public financial systems. Similarly, instead of the "tailor" the new standards still seem to be the '' ready to wear '' and do not always reflect the sociological realities of the States. Therefore, this thesis proposes to move from imitation to institutional innovation. She makes endogenous consolidation of public financial systems a condition for success that goes by, among others, the establishment in the States of fiscal biannuality ; MPs profiles, the authorizing committee in the ministries, solidarity accountability of the accountant and of the authorizing, and establishing a moral responsibility through involvement of traditional chiefs and religious denominations discipline financial.

To what extent does China's experience of economic reform since 1989 compel a reconsideration of the ontological foundations of contemporary capitalist development? China's political economy remains characterized by a unique and resilient political structure (the Chinese Communist Party) that penetrates both 'private' (market) and 'public' (state) organizations. The conceptual rootedness of contemporary theories of comparative and international political economy in a distinctly Western historical experience of capitalist development hinders their ability to understand Chinese capitalism on its own terms—as historically, culturally, and globally embedded. To generate greater analytic traction in understanding China's otherwise paradoxical constellation of actors and dynamics, I argue that contemporary capitalism should be studied as a set of mechanisms for managing and exploiting socio-economic uncertainty, rather than according to the binary logics of state regulation and market competition. These mechanisms can be conceptualized as an overarching risk environment. On this basis, I trace how the cognitive frames, social institutions, and relational networks that emerged within the 'socialist market economy' in China's post-Tiananmen financial system have placed the Chinese Communist Party at the nexus of the state and the market. I argue that specific ideas emerged about how to manage the flow of capital, playing a significant role in underpinning expectations of financial growth and stability. During this period the financial system underpinned the CCP's capacity to both manage and exploit socio-economic uncertainty through the path of reform, forming a central explanatory factor in a developmental trajectory marked by a trifecta of rapid economic growth, macroeconomic stability, and deepening socio-economic imbalances. Rather than viewing the path of financial reform in China solely in terms of 'partial' or 'failed' free- market reform, it thus becomes possible to cast China's development in a new light as the product of a more concerted vision of how the financial system would enable a mode of economic development that combined the drive for capital accumulation with the distinctive socio-political circumstances of post-1989 China.

Made available in DSpace on 2016-04-29T13:48:38Z (GMT). No. of bitstreams: 1 Rodrigo Maschion Alves.pdf: 3157709 bytes, checksum: e3ff8c63b85c0d2ae8a2a85919e6a3f4 (MD5) Previous issue date: 2015-08-17 / This is a study on the contemporary international monetary and financial system. Specifically, is being analyzed an arrangement of its own governance and how the chief governments reacted to the financial crisis started in the US in 2008. The work seeks to understand the limits and possibilities of one of the arrangements of global monetary and financial governance: the G- 20 during the acute context of the international economic crisis. Here, the possible outcomes are evaluated in terms of governance in the international monetary and financial field achieved by the major states in and from the G-20. In this way, it will review the performance of major governments operating in the G-20 to identify prospects, limitations and scope of a global monetary and financial governance initiative. It comes to a general conclusion that the international monetary and financial governance, in its current form, is adapted to the respective conditions of the International Monetary and Financial System of the XXI century: an unstable system, subject to crises and whose governance, via institutional arrangements, is limited / Este é um estudo sobre o sistema monetário e financeiro internacional (SMFI) contemporâneo. Especificamente, está em análise um arranjo da sua própria governança e como os principais governos reagiram diante da crise financeira deflagrada nos EUA em 2008. O trabalho procura compreender os limites e as possibilidades de um dos arranjos da governança monetária e financeira global: o G-20 financeiro durante o contexto agudo da crise econômica internacional iniciada em 2008. Aqui, são avaliados os possíveis resultados em termos de governança no campo monetário e financeiro internacional alcançados pelos principais Estados no e a partir do G-20 financeiro. Dessa maneira, será examinada a atuação dos principais governos atuantes no G-20 para identificar as perspectivas, as limitações e os alcances de uma iniciativa de governança monetária e financeira global. Chega-se a uma conclusão geral de que a governança monetária e financeira internacional, na sua forma atual, está adaptada as inerentes condições do Sistema Monetário e Financeiro Internacional do século XXI: m sistema instável, sujeito a crises e cuja governança, via arranjos institucionais, é limitada

Philosophiae Doctor - PhD / The prime aim of this thesis is to examine the link between fiscal decentralization and local financial governance in fiscally empowered woreda administrations (districts) of the Amhara region in Ethiopia. Local financial governance has been one of the reasons and arguably the crucial one that drives many countries to subscribe to fiscal decentralization. The presumption is that public finance mobilization and spending can be implemented in a more efficient, responsive, transparent and accountable manner at the local government level than at the centre. Nonetheless, empirical studies show that the linkage between fiscal decentralization and these local financial governance benefits is not automatic. Several developing countries that have tried to implement fiscal decentralization have failed to realise the promised financial governance gains largely due to design and implementation flaws. A review of the various theoretical perspectives suggest that local financial governance is not a factor of just devolution of fiscal power but also other intervening forces such as financial management system, citizen voicing mechanisms and the social and political context. It is within the framework of this theoretical argument that this study sought to investigate how the mixed and incomplete efforts of the district level fiscal decentralization program in the Amhara region has impacted on financial governance of woreda administrations. The study assesses the efficacy and role of various initiatives of the district level decentralization program of the Amhara region, such as the fiscal empowerment of woredas; financial management system reforms; citizen voicing mechanisms and political party structures and system in influencing woreda financial governance. To this end, the investigation process largely took the form of an interpretative approach employing a combination of various methods of gathering the required qualitative and quantitative data from respondents and documents in the selected four case woredas or districts. Findings on the assessment of the intergovernmental relations to measure the adequacy of devolution of fiscal power indicate that, despite the constitutional provision that affords the woredas the power to mobilize and spend public finance for the provision of various local public services, several design and implementation shortcomings have constrained woreda administrations from exercising such power effectively. As a result, the district level fiscal decentralization framework of the Amhara region appears to have features of decentralization by de-concentration rather than by devolution. Despite the extensive financial management reforms that have been undertaken, the research findings indicate that the financial management system in woreda administrations faces a range of challenges triggered largely by important design and implementation shortcomings. It is observed that the ‘getting the basics right first’ reforms in various financial management processes of woreda administrations are not only incomplete but also found to be inconsistent with each other and therefore could not serve their purpose. Furthermore, there has not been any other change in the last two decades since the initial implementation of these reforms despite such serious shortcomings. Most importantly, woreda administrations could not properly implement the techniques, methods, procedures and rules that constituted the reform process due to serious implementation problems such as the lack of manpower competency and problems associated with the lack of administrative accountability. The results of the study’s assessment regarding the practice of social accountability show that currently there is no arrangement for citizens to participate in public financial decisions and controls. In general, people have little interest in participating in the meetings organised by woreda government. Formal and informal community based organizations suffer from important capcity constraints, and the lack of strong civil society organizations to support these community based organizations makes such problems more difficult to resolve. However, local communities did indicate that they would be interested in participating in financial and budgeting processes if a number of conditions were satisfied. These included the availability of adequate and relevant information; the introduction of genuine forms of participation in which citizens were empowered; and evidence that popular participation was making a visible impact on financial decisions related to service delivery in their surroundings. The assessment of the ruling party structure and system suggests that the centralized system of the regional ruling party has created a dominant relationship between party organs at various levels so much sothat it has undermined the fiscal discretionary power of woreda administrations; blurred relationship between party and woreda financial management systems; and undermined direct voicing. Consequently, the genuine devolution of fiscal power, the effective implementation of the decentralised financial management systems, and direct participation of citizens are unlikely to be realised within the current ruling party system and structure. Moreover, the study shows that the intergovernmental relations, the implementation of financial management reforms and direct involvement of people influence each other. The evidence suggests that the effective implementation of the financial management reforms is not possible without genuine devolution of fiscal power and arrangements for the activeinvolvement of citizens. Despite these limitations and shortcomings, the research nevertheless reveals that the decentralization process has achieved some positive results, such as the expansion of access to basic services; the economic use of resources for such expansion; the mobilization of resources from local communities; and the streamlining of a number of bureaucratic processes. However, the prevalence of various financial governance challenges such as excessive budget transfers; low budget execution; uneconomical procurement; illicit spending; budget pressure; inadequate revenue collection; poor financial transparency; and compromised accountability in fiscally decentralized woreda administrations means the promised local financial governance benefits of fiscal decentralization are remain largely unrealized. The evidences in the study strongly suggest that the shortcomings in the design and implementation of intergovernmental relations, financial management system reforms, and direct voicing mechanisms areresponsible in combination with each other for these local financial governance challenges. Thus, the study concludes that local financial governance is a result of a complex network of interactions of intergovernmental relations, public financial management arrangements and social accountability mechanisms. The success of initiatives to improve local financial governance is dependent on contextual factors such as the capacity of civil society organizations and the ruling party system and structure. Therefore, while recommending further efforts of genuine devolution of power, in particular through the continuation of the financial management reform processes towards full-fledged reforms, the study contends that opening enough space for the proliferation of civil society organizations and alternative political parties will be the main priority.

L’initiative qui a conduit à l’élaboration de cette thèse provient d’un désir d’explorer plus en détail le contenu, les objectifs et la portée de la réforme de la comptabilité de l’État en Algérie. Le cadre juridique et réglementaire comptable actuel souffrait depuis son édification de nombreuses insuffisances et limites qui devaient être complétées avec les nouvelles modalités juridiques et techniques inspirées des standards et des bonnes pratiques internationales. La nouvelle réforme comptable vise à fonder une comptabilité tridimensionnelle de l’État consacrée par de nouvelles normes comptables nationales, un plan comptable de l’État (PCE) et de nouvelles modalités de contrôle et de responsabilité des acteurs. L’analyse de l'état actuel de la réforme, à l’épreuve de la nouvelle gouvernance financière publique, marquée par les exigences de transparence, de performance et de bonne gouvernance, vise à proposer des solutions pour l'amélioration du système national d’une part, et à étudier le rôle de la réforme budgétaire et des normes comptables internationales (IPSAS) dans l’adaptation du nouveau cadre comptable, pour que la comptabilité soit davantage un instrument d'information, de décision et d’appréciation de la situation financière et patrimoniale de l’État, d’autre part. Vu la complexité des formes et de l’étendue des chantiers de la réforme, la transformation comptable recommandée peut prendre une approche globale, qui sera concentrée non seulement sur l'application du cadre législatif et réglementaire (LOLF), c’est-à-dire sur la mise en place de la nouvelle comptabilité, sur la production de comptes publics sincères, fidèles et réguliers, objet de certification et de valorisation par la Cour des comptes, mais également sur la modernisation de la fonction comptable et l’intégration du cadre de la gestion budgétaire et comptable aux fins de la réforme de l’État. / The initiative which led to drawing up this thesis arises of a wish to explore, in more detail, the content, objectives and scope of the Algerian State accounting reform. The current legal and regulatory framework suffered, since its implementation, from many deficiencies and limits which should be completed by new legal and technical procedures based on standards and international good practices. The new accounting reform aims at establishing a three-dimensional State accounting, realized by new national accounting standards, a State accounting plan (SAP) and new ways of control and players responsibility. The analysis of the current state of reform, proof against the new public financial governance, marked by the requirements of transparency, performance and good governance, aims at proposing solutions for the enhancement of the national system, on the one hand, and to study the role of budget reform and international public sector accounting standards (IPSAS) in adapting the new accounting framework, so that accounting becomes more a tool for information, for decision and assessment of the financial and patrimonial situation of the State, on the other hand. Given the complexity of the forms and extent of reform projects, the recommended accounting transformation can take an overall approach which will be concentrated not only through the enforcement of the legislative and regulatory framework (LOLF), or through the implementation of the new accountancy, or the production of true, correct and regular public accounts, which are subjects of certification and valuation by the Court of Auditors, but also through the modernization of the accounting function and the integration of the budgetary and accounting management framework for the purpose of the State reform.

Avec les accords euro-méditerranéens d’association, les pouvoirs publics algériens sont appelés à respecter les engagements internationaux et régionaux qui en résultent. Il s’agit en particulier de mettre en conformité les administrations fiscales et douanières. En effet, les transformations économiques et juridiques que produit la mise en place de ce genre d’accord d’association interpellent notamment les législateurs algériens pour entreprendre des réformes fiscales et douanières qui s’imposent par la libéralisation des échanges. L’objectif est donc de rapprocher le droit fiscal et douanier de l’Algérie avec les législations en vigueur dans les Etats de l’Union européenne et plus généralement euro-méditerranéens. C’est dans ce cadre que notre sujet se propose d’approcher et de débattre la réforme fiscale et douanière en Algérie. Pour cela, ce travail débute par une réflexion sur cet accord d’association, qui passe par l’évolution des relations entre l’Algérie et l’Union européenne. Puis nous abordons plus précisément la question des réformes fiscales et douanières en Algérie dans le cadre de cet accord d’association. Pour terminer nous traitons de l’importance de la bonne gouvernance financière dans le cadre de l’intégration régionale. / With the Euro-Mediterranean Association Agreements, the Algerian authorities are required to comply with the resulting international and regional commitments. This concerns in particular the conformity to the tax and customs administrations. In fact, the economic and legal transformations implemented by such an association agreement demand the Algerian legislators to undertake fiscal and customs reforms required by trade liberalization. The goal, therefore, is to bring the Algerian tax and customs law closer to the laws in force in the European Union states and more particularly in the Euro-Mediterranean ones. It is in this context that we aim through our subject to approach and discuss tax and customs reform in Algeria. For this, the work begins with a reflection on the Association Agreement, achieved through the development of relations between Algeria and the European Union. Then, we tackle specifically the issue of tax and customs reforms in Algeria on the occasion of the Euro-Mediterranean agreements. Finally we discuss the importance of good financial governance in the context of regional integration.