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Ian Noble

The chapter explores the origins of climate change adaptation as a research discipline and as an issue for public policy more broadly. The chapter seeks to articulate the linkages delineations between adaptation and other policy areas. For example, where does adaptation policy end and where does development and/or disaster risk management begin? Are there limitations associated with framing adaptation in the context of development? The chapter also assesses whether adaptation is occurring, and if so why, where and in what form (that is, differences between coping and adapting as well as between autonomous and planned adaptation).

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Scott Sigmund Gartner, John Bangerter, Zackary Goncz, Michelle Sarver and Natalie Schreffler

The absence of women as international crisis mediators (especially as team leaders) is well documented. This chapter examines how disputants’ hostility interacts with gender to influence third-party mediator selection. Men are stereotypically seen as warriors – suggesting that people might want male mediators if they expect a tough fight. Women have long been perceived as more empathetic, making them more likely to be perceived as sympathetic to unfairness. An experimental study of over 390 subjects finds that when an adversary is more hostile, people strongly prefer male mediators. The stakes, however, and thus unfairness, do not play a role. Previous studies show that, compared to other forms of dispute management such as bilateral negotiations, third-party mediation is more likely to be employed in hostile disputes. Therefore, part of the preference for male mediators may derive from a gendered preference for mediators in hostile situations, a dynamic we call conditional sexism.

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Dimitri Ioannides and Kristina Zampoukos

In the neoliberal era we live in, a number of issues crop up, seriously hindering the pursuit of equity/social justice dimensions of sustainable development in numerous communities worldwide. Importantly, in many tourism-related sectors we notice an ever-increasing reliance on outsourced casual/part-time labour, much of it based on zero-hours contracts. Often we hear that workers demand a ‘living wage’, given that government-mandated minimum wage contracts – if they exist – do not reflect the reality of ever-increasing living costs encountered in places affected by tourism. This chaptercalls for a research agenda relating to the geographies of tourism work and workers. Specifically, this agenda draws inspiration fromthe work of Andrew Herod, who argues that workers are the authors of their own everyday geographies under capitalism, as well as the research conducted by Tufts, who specifically examines issues revolving around the geography of hotel workers. The chapter seeks to set an agenda to further strengthen our understanding of the everyday geographies of people who are classified as tourism workers. Issues addressed relate inter alia to the workers’ identity, geographic mobility (or immobility), and workers’coping strategies in negotiatinga highly uneven playing field in the working environment but also in terms of access to resources such as affordable housing. The chapteralso raises questions such as:In what manner do recent developments (e.g., the rise of the shared economy) impact the geography of tourism workers?

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Carlo Garbarino

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Jonathan Kirk, Thomas Samuels and Lee Finch

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Financial Regulation and Stability

Lessons from the Global Financial Crisis

Charles Goodhart and Dimitrios P. Tsomocos

This book addresses the interaction of monetary and regulatory policy to achieve the important goal of price and financial stability. The authors show how financial stability can be assessed and measured continuously, and discuss the interrelationships between liquidity and default. Without default there would be no concern about liquidity. But the financial crisis was not just a liquidity problem, and requires a general equilibrium model. Their general equilibrium analysis demonstrates how policy should depend on understanding all the relevant factors.
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Charles A.E. Goodhart, Anil K. Kashyap, Dimitrios P. Tsomocos and Alexandros P. Vardoulakis

This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a “shadow banking system” that each help households finance their expenditures. Households sometimes choose to default on their loans, and when they do this triggers forced selling by the shadow banks. Because the forced selling comes when net worth of potential buyers is low, the ensuing price dynamics can be described as a fire sale. The proposed framework can assess five different policy options that officials have advocated for combating defaults, credit crunches and fire sales, namely: limits on loan to value ratios, capital requirements for banks, liquidity coverage ratios for banks, dynamic loan loss provisioning for banks, and margin requirements on repurchase agreements used by shadow banks. The paper aims to develop some general intuition about the interactions between the tools and to determine whether they act as complements and substitutes.

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John T. Scott

The purpose of this article is to propose a mechanism – the hurdle-lowering auction – for leveraging the public funds invested in public/private partnerships to promote technology. The article addresses financial engineering – the optimal amount and design of public funding of privately performed investments in technology and innovation carried out by public/private partnerships. Public/private partnerships are joint research ventures combining public and private resources to invest in the research and development of technology and innovations. Thus, financial engineering concerns the design of mechanisms for public funding of public/private partnerships that generate the maximum leverage of the public funds on the private investment and performance. By maximum leverage of public funding, is meant maximum effectiveness of the funds in ensuring the use of the least amount of public funds to get the desired results and ensuring the necessary incentives to get those results given the appropriate amount of public funding.

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Rita de Cássia Ariza da Cruz

Theoretical and methodological issues are, of course, fundamental to the production of scientific knowledge. At the same time, herein lies one of the most important weaknesses of the geographical approach to tourism over time. The significant theoretical and methodological weaknesses in the results of researches on tourism are most visible in the international tourism geographic literature. They are also revealed in the international forum, which is dominated by papers restricted to the statement of facts, data, and processes without any theoretical support and non-critical proposals for tourism planning. Overcoming merely descriptive and superficial analyses coupled with the production of in-depth studies, disciplinary and interdisciplinary, is a sine qua non for better understanding contemporary tourism and, therefore, there is not a single theoretical or methodological approach to be embraced, but a plurality of theories and methods at our disposal.However, building bridges to support the ongoing dialogue within geography and between geography and other areas of scientific knowledge remains a challenge to be overcome.The interdisciplinary studies on tourism depend on a bottom-up movement, that is,one based on private initiatives or small groups, which must be able to generate centrifugal movements, disseminating practices and encouraging new initiatives.

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Yu Zheng

Foreign direct investment (FDI) has played an important role in China’s economic development and social transformation. This chapter reviews scholarly work on China’s progressive opening to FDI during the past four decades. It emphasizes several themes. First, China has achieved a greater degree of openness to foreign investment than economies at a comparable level of development. FDI has generated greater positive spillovers for China’s economic development than for most other developing countries. Second, China’s success in attracting FDI can be explained by its ability to combine locational advantages with an enduring policy environment conducive to foreign investors. Third, China will continue to have large demand for FDI, but will be more selective in order to pursue a new development strategy and facilitate structural transformation.