Numerous contributions in finance have made it clear that imposing no arbitrage restrictions in empirical models of the yield curve improves their empirical characteristics (see e.g. Ang et al. 2006 for a recent example). At the same time, macroeconomic research has shown that theoretical restrictions embedded in dynamic stochastic general equilibrium (DSGE) models make current macro models competitive with VARrs (see e.g. Smets and Wouters 2007). The macro)finance literature aims to combine these two types of restrictions, in view of capturing both dimensions simultaneously, and ultimately, contribute to understanding links between the real and financial economy.
This thesis illustrates how the Bagyeli have been affected by the recent Chad Cameroon oil pipeline that runs through the rainforest where they live in Cameroon. In order to illustrate this, three issues are examined: first, the goals for the project as stated by the oil consortium; second, the possible risks associated with the pipeline; and third, the perspectives of the Bagyeli on how the pipeline has changed their lives.
There are many questions that are raised in this thesis. Who are the major power elites involved in the pipeline and what are their connections? Were environmental and social measures put into place by the project to mitigate risks? If so, were these measures successful? How do the Bagyeli perceive the effects of the pipeline? How do the corporations involved in the project perceive the pipeline? What was the United States government’s role in the project? If this truly is a development project, whom is it development for?.
The recent crisis of the global financial system has been generated by a multiplicity of factors, among which the failure of national and international regulation systems. In a recent report, released in March 2009, the IMF argued that the main culprit was deficient regulation of the financial system, together with a failure of market discipline.
During the recent G7 meeting held in Rome on February 2009, participants agreed on enhancing liquidity and funding through traditional and newly created instruments. Moreover, they suggested to strengthen the capital base according to the assessment of the competent authority evaluating individual financial institutions. In a joint declaration, the G7 called for urgent reforms of the international financial system.
