And in a break with historical trends, growth rates in Central, East, Southern and West Africa have surpassed that in North Africa in the immediate aftermath of the crisis, while those in several countries in North Africa have been hit by political unrest and civil conflict since Robust annual growth of nearly 5 per cent for Africa is forecast to continue, making it one of the fastest-growing regions in the world, after it reached an estimated growth of 3.
In the media worldwide, the narrative has become the African renaissance or Africa rising. Another feature of international financial centres is the high concentration of global players that can be found on a fairly small geographical area —a square mile in arguably the most global of all, the City of London.
Nowhere else has it ever been possible to find such a great number of multinational enterprises within a few hundred yards of one another. The paper will thus emphasize how, in the course of the last two centuries, multinational banks and international capital markets have played a decisive role not only in The paper will thus emphasize how, in the course of the last two centuries, multinational banks and international capital markets have played a decisive role not only in contributing to, but also in enabling the transformation of the world economy.http://ktp.okta.kz/wp-content/95.php
The Transformation of the World Economy
Reinsurance supports host economies in three main areas. One main function of reinsurance is to spread risk across the world. While multinational insurers to some degree are able to do so themselves, smaller and locally active insurance companies are more dependent on reducing their exposure through buying reinsurance and thus participating more diversified risk pools.
A second important support function is in the transfer of know-how. Reinsurers collect best practice internationally and provide clients, amongst other, with underwriting intelligence, product design, market development, risk management, and financial management. Finally, reinsurers provide financial capacity by allowing insurers to free up risk reserves. This allows insurers to underwrite more risks.
The Transformation of the World Economy | SpringerLink
The direct impact of reinsurance on underwriting capacity is easy to describe and, in theory, easy to measure. Access to the relevant data, however, is difficult.
The measurement of know-how transfer is more difficult as is the effect of risk reduction through The measurement of know-how transfer is more difficult as is the effect of risk reduction through global pooling. We therefore try out different descriptive approaches and will look at factors that historically caused or supported shifts in global distribution of reinsurance supply and demand. We assume that the main cause for increased demand for foreign as opposed to local reinsurance historically came from inflation, sudden or accelerated boosts in economic development which local companies were unable to absorb, as well as from regulatory changes.
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Because of the international character of reinsurance services, the industry conducted much of its business cross-border rather than setting up shop. We will therefore also briefly consider the rationale for opening business in host economies. This paper considers the creation and spread of communications firms since the mid-nineteenth century. I will use this paper to tease out these features of communications firms. How far did these firms pioneer methods used by multi-nationals? How did they enable multi-nationals to globalize by enabling information exchanges?
International Finance and Macroeconomics. International Trade and Investment.
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