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Human rights, development and decolonization : the International Labour Organization, 1940-70
An innovative diplomatic and intellectual history of decolonization, post-colonial nation building and international human rights and development discourses, this study of the role of the ILO during 1940-70 opens up new perspectives on the significance of international organisations as actors in the history of the 20th century.
eBook
Human rights, development and decolonization
A break-through in historical scholarship on international politics in the twentieth century in general and on the role of international organizations, human rights and development in particular. It is immensely gratifying to see this excellent book appear in English translation, which makes it available to the large international audience it deserves. A carefully drafted, well-written study, the book will become a standard work for scholars and students in history, political science, human rights and development studies.' - Corinna R. Unger, Jacobs University Bremen, Germany
Book
The bond event study methodology since 1974
In the spirit of methodology reviews for stock event studies, like the one prepared by Binder (Rev Quant Financ Account 11:111–137,
1998
), this paper discusses the development of the event study methodology for corporate bonds since its first application with Katz (J Financ 29:551–559,
1974
). The motivation to conduct this review stems from two sources: First, the methodology utilized for stocks cannot simply be applied to bonds, as bonds present several features that strongly distinguish them from stocks. An erroneous model could lead to false conclusions about the impact of new information on a firm’s debt. Second, the availability of new sources for bond data enables the application of bond event studies for an increasing number of research frameworks. Thus, future research ought to be interested in the selection of the proper methodology. Consequently, this paper illustrates past and present event study methods utilized to calculate abnormal bond returns and reviews the applied parametric and non-parametric test statistics. Besides, insight on how the availability of corporate bond data has evolved through the last four decades, as well as the impact on prevailing methodology is provided. Altogether, this paper provides a first extensive snapshot of the current bond event study methodology and offers guidance for future research.
Journal Article
“Help Them Move the ILO Way”: The International Labor Organization and the Modernization Discourse in the Era of Decolonization and the Cold War
The International Labor Organization's role in helping to modernize developing post-colonial countries in the period following World War II is discussed. The ILO took an integrated approach, guiding client countries along a social, economic and political modernization approach toward an ideal of liberal democracy.
Journal Article
100 Jahre Internationale Arbeitsorganisation
In diesem Jahr wird die Internationale Arbeitsorganisation (ILO) 100 Jahre alt – eine gute Gelegenheit Bilanz zu ziehen. Ist die ILO ihrem Mandat gerecht geworden? Und kann sie Antworten auf die Fragen geben, die die globale Arbeitswelt heutzutage beschäftigen?
In 2019 the International Labour Organization (ILO) turns one-hundred years old, and remains one of the oldest international organizations still active. Founded in the wake of the First World War as part of the Treaty of Versailles of 1919, it was built on the belief that »universal and lasting peace can be established only if it is based on social justice.« The article will follow the ILO’s history along major turning points of the twentieth and twenty-first century history. Against this backdrop, the centenary provides an opportunity to take stock and draw conclusions: has the ILO lived up to its mandate and is it still relevant today?
Journal Article
Einflussfaktoren auf die Bondemissionsprämie im Bereich der alternativen Energien: Eine Note
Die folgende Analyse präsentiert aktuelle empirische Evidenz, die es erlaubt, eine bessere Vorstellung der von den potentiellen Investoren geforderten Risikoprämie zum Emissionszeitpunkt zu erhalten. Untersucht werden zwischen 2008 und 2012 in Deutschland emittierte Anleihen im Bereich der alternativen Energien. Neben dem schon hinreichend bekannten Einfluss der Risikoklassifizierung durch ein Rating zeigen sich weitere bedeutende Variablen. Mit zunehmenden Emissionsvolumina und höherer Stückelung geht ebenfalls der Zinsaufschlag zurück. Offensichtlich konnten besonders große an institutionelle Investoren gerichtete Branchenvertreter in der Vergangenheit von günstigen Anleiheemissionen profitieren. Ebenfalls für eine niedrigere Emissionsprämie sorgen eine positive Konjunkturlage und ein hohes risikoloses Zinsniveau. Dies macht deutlich, dass das derzeitig in Deutschland herrschende Niedrigzinsniveau gepaart mit mäßigem Wachstum die kostengünstige Aufnahme von Fremdkapital über den Kapitalmarkt deutlich erschwert. Eine Durchsetzung der Maßnahmen der durch BMU und BMWi angekündigten \"Strompreisbremse\" würde die Situation für Unternehmen noch verschärfen. Determinants of Bond Issuance Spreads for Alternative Energy Firms: A Note The following analysis presents empirical evidence on the investor demanded risk premium at the bond issuance. The sample consists of bonds issued by alternative energy firms in Germany between 2008 and 2012. Our results show that besides the well-known influence of ratings, other factors may significantly influence bond spreads. As the size of the issue and the denomination increases, the yield spread decreases. Thus apparently, large issue sizes directed towards institutional investors are capable to benefit from favorable bond issues in the past. In addition, the economic climate and risk-free rate exhibit a significantly negative coefficient, indicating that positive economic climates as well as a high risk-free rate lead to lower issuance spreads. Thus, the currently prevailing low interest rate in conjunction with moderate economic growth results in increased spreads and therefore hampers bond placements. Enforcement measures by the BMU and BMWi could further exacerbate this unfavorable situation. JEL Classification: G12
Journal Article
A New Power: The ILO and the Growing Importance of the Developing World in the 1960s
At the beginning of the 1960s, the wave of decolonization reached the African continent and swept through it with force. The “African year”, as 1960 came to be known, saw a multitude of countries following the trailblazers Ghana and Guinea into independence. The “wind of change which is blowing through this continent”,1 in the words of British Prime Minister Harold Macmillan that same year, left an indelible mark on the ILO, which notched up 16 new members in 1960 alone.2 By 1965 its membership had more than doubled in comparison with 1947, from 55 to 115 countries.3 This influx of new members was viewed by the ILO first and foremost as another major step towards fulfilling its aim of becoming truly universal. For the first time, the Organization could really claim to be active all over the world.
Book Chapter
Einflussfaktoren auf die Bondemissionsprämie im Bereich der alternativen Energien: Eine Note
Die folgende Analyse präsentiert aktuelle empirische Evidenz, die es erlaubt, eine bessere Vorstellung der von den potentiellen Investoren geforderten Risikoprämie zum Emissionszeitpunkt zu erhalten. Untersucht werden zwischen 2008 und 2012 in Deutschland emittierte Anleihen im Bereich der alternativen Energien. Neben dem schon hinreichend bekannten Einfluss der Risikoklassifizierung durch ein Rating zeigen sich weitere bedeutende Variablen. Mit zunehmenden Emissionsvolumina und höherer Stückelung geht ebenfalls der Zinsaufschlag zurück. Offensichtlich konnten besonders große an institutionelle Investoren gerichtete Branchenvertreter in der Vergangenheit von günstigen Anleiheemissionen profitieren. Ebenfalls für eine niedrigere Emissionsprämie sorgen eine positive Konjunkturlage und ein hohes risikoloses Zinsniveau. Dies macht deutlich, dass das derzeitig in Deutschland herrschende Niedrigzinsniveau gepaart mit mäßigem Wachstum die kostengünstige Aufnahme von Fremdkapital über den Kapitalmarkt deutlich erschwert. Eine Durchsetzung der Maßnahmen der durch BMU und BMWi angekündigten \"Strompreisbremse\" würde die Situation für Unternehmen noch verschärfen.
Determinants of Bond Issuance Spreads for Alternative Energy Firms: A Note The following analysis presents empirical evidence on the investor demanded risk premium at the bond issuance. The sample consists of bonds issued by alternative energy firms in Germany between 2008 and 2012. Our results show that besides the well-known influence of ratings, other factors may significantly influence bond spreads. As the size of the issue and the denomination increases, the yield spread decreases. Thus apparently, large issue sizes directed towards institutional investors are capable to benefit from favorable bond issues in the past. In addition, the economic climate and risk-free rate exhibit a significantly negative coefficient, indicating that positive economic climates as well as a high risk-free rate lead to lower issuance spreads. Thus, the currently prevailing low interest rate in conjunction with moderate economic growth results in increased spreads and therefore hampers bond placements. Enforcement measures by the BMU and BMWi could further exacerbate this unfavorable situation.
Journal Article
Principled Development: The Beginnings of the Technical Assistance Programme (TAP)
In 1948 a new era began for the ILO. The Organization had come through the first years of the post-war period and the beginning of the East-West conflict more or less unscathed. Its survival, under the wing of the West, was guaranteed and its integration into the UN system had been fairly smooth. However, the renewed and expanded mandate that the ILO had been given by delegates in Philadelphia had not yet filtered down into any concrete course of action. This was to change when the American David Morse took over the post of Director-General of the Office. Under his leadership, rapid and sweeping changes began to alter the profile of the ILO. His successful drive to transform it from a predominantly standard-setting body into an operationally active organization providing technical assistance in economically and socially “underdeveloped areas” of the world changed the face of the ILO “beyond recognition”,1 according to one political scientist and ILO insider in the 1960s.
Book Chapter