Public private partnerships (PPPs) have been a controversial approach to procuring public infrastructure services. Against a background of recent trenchant criticism of PPPs, Mervyn K. Lewis, a leading scholar in the area, re-examines their utility. He questions what PPPs can and cannot do, why governments choose this route and whether PPPs can ever be good value for money. The author analyses the extensive use of PPPs for hospitals and transport megaprojects and outlines the key challenges to implementing them, shaping the future direction of the PPP model. Exploring the psychological influences on decision-making, the book also puts a new focus on the people delivering the project; it is not only a matter of selecting the right model. Professor Lewis concludes that, although the PPP model remains problematic, if chosen appropriately every procurement approach has its place in good policy. Providing an in-depth exploration of the features of PPPs and the complexities of megaprojects, Rethinking Public Private Partnerships will be of considerable interest to academics and students of public policy, economic regulation and governance, and public finance. Its re-assessment of the field will also prove invaluable for government procurers, advisory firms and PPP experts.

Judaism, Christianity and Islam all impose obligations and constraints upon the rightful use of wealth and earthly resources. All three of these religions have well-researched views on the acceptability of practices such as usury but the principles and practices of other, non-interest, financial instruments are less well known. This book examines each of these three major world faiths, considering their teachings, social precepts and economic frameworks, which are set out as a guide for the financial dealings and economic behaviour for their adherents. Religion and Finance explores the histories, denominational compositions and fundamental beliefs of each of the three religions and examines a host of key issues surrounding their relationship to finance. Consideration is given to the development of the generally disfavoured practices such as usury, and the various instruments of sales-based debt, partnerships and equity-based financial practices allowed by these religions are examined, alongside a discussion of their socio-economic teachings and traditions. This well-written, well-constructed, analysis of the financial thought of Judaism, Christianity and Islam, with its insightful analysis of key financial instruments and economic practices, will be an invaluable book for anyone who is interested in, or studying, the three major Abrahamic religions and their financial practices and philosophies.

This important collection presents an authoritative selection of papers on public private partnerships. The literature is relatively new, and draws on the disciplines of both economics and engineering. As well as examining the recent experience of these schemes - whose evolution has accelerated in recent years - this insightful collection also considers the intellectual origins of the concept, and investigates the organisational and risk management aspects of PPPs. It will be an essential source of reference for all those with an interest in this topical subject. 36 articles, dating from 1991 to 2003

This path-breaking book considers the recent trend for governments to look increasingly to private sector finance, provided by private enterprises constructing and managing public infrastructure facilities in partnership with government bodies. One outstanding feature of the book is that it brings together an academic assessment of this phenomenon with practitioner-based experience of organizing partnerships and advising government bodies in Australia, Canada, Continental Europe, Hong Kong and the UK. While the volume, as a whole, draws on this extensive experience of the market, there are also a number of specific case studies. Developments in the major advanced countries are covered, along with the potential for public private partnerships in developing countries and transition economies. Combining practitioner knowledge and academic perspective and integrating engineering, economics and finance literature, Public Private Partnerships will be of great interest to economists, engineers, investment banks and government bodies.

This path-breaking book considers the recent trend for governments to look increasingly to private sector finance, provided by private enterprises constructing and managing public infrastructure facilities in partnership with government bodies. One outstanding feature of the book is that it brings together an academic assessment of this phenomenon with practitioner-based experience of organizing partnerships and advising government bodies in Australia, Canada, Continental Europe, Hong Kong and the UK. While the volume, as a whole, draws on this extensive experience of the market, there are also a number of specific case studies. Developments in the major advanced countries are covered, along with the potential for public private partnerships in developing countries and transition economies. Combining practitioner knowledge and academic perspective and integrating engineering, economics and finance literature, Public Private Partnerships will be of great interest to economists, engineers, investment banks and government bodies.

Ponzi schemes are a particularly vicious form of financial fraud, in that the overly trusting victims, who are often wiped out, typically share an affiliation with the fraudster. They are interesting, in that they share some features with legitimate financial phenomena (such as stock manias) and shed light on the human tendency towards behaving foolishly, especially when encouraged or modeled by others. In Understanding Ponzi Schemes, Mervyn Lewis has written what is probably the best and most comprehensive book on the topic. Extremely readable, this book uses both theoretical models and real-life case studies to provide readers with an answer to two questions: 'How do Ponzi schemes work and why are they successful?' Lewis also provides useful answers to a third question: 'What can regulators and individuals do to be protected from future incarnations of Charles Ponzi?''' - Stephen Greenspan, University of Connecticut, US and author of Annals of Gullibility'Starting with very readable (and well-referenced) accounts of various Ponzi fraudsters from Ponzi himself through to Madoff and Stanford, lessons are drawn from such diverse disciplines such as psychology and statistical analysis to advocate novel approaches to the regulation of Ponzi schemes. A 'must read' for regulatory policy-makers and a fascinating read for the general reader, Professor Lewis is to be congratulated for advancing the debate on this age-old phenomenon by suggesting distinctive and innovative strategies to tackle it.' - Eva Lomnicka, Dickson Poon School of Law, King's College London, UK 'Readers looking for a clear explanation of how Ponzi schemes work and description of recent and historical examples, both large and small scale, will find that in this very readable book. But the author, Professor Mervyn Lewis, goes well beyond those topics by drawing on behavioural economics and psychology to help understand how 'victims' get caught in such schemes, and the motives and behaviours of the scheme operators. That analysis also provides a valuable checklist for readers to help them avoid becoming victims.' - Kevin Davis, University of Melbourne, Australia A Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming forward. Despite this, however, people continue to invest in them. How are we to account for the seemingly never-ending lure of such schemes? In providing answers to this central question, this concise and well-researched book examines how Ponzi schemes operate, how they differ from pyramid schemes, Ponzi finance and other financial arrangements. The author questions whether the victims have only themselves to blame, why fraudsters think that they can avoid detection, and what important insights behavioural finance theory and psychology can add. Particular attention is paid to the reasons behind the failure of financial regulation, and the types of regulatory changes needed to protect investors and avoid repetitions. The analysis is informed by case studies of 11 Ponzi schemes in the US, UK, Australia and New Zealand. Finance and business academics interested in the operation of Ponzi schemes, and how they differ from pyramid schemes, will find this book invaluable, as will students of economics, finance, behavioural decision-making and psychology. Lawyers, psychologists, regulatory agencies and financial institutions will also benefit considerably from the analysis.

Is it still worth it for low-income students to attend college, given the debt incurred? This book provides a new framework for evaluating the financial aid system in America, positing that aid must not only allow access to higher education, but also help students succeed in college and facilitate their financial health post-college. Higher education plays a critical role in the economy and society of the United States, creating a ladder of economic opportunity for American children, especially for those in poverty. Unfortunately, higher education today increasingly reinforces patterns of relative privilege, particularly as students without the benefit of affluent parents rely more and more on student loans to finance college access. This book presents penetrating new information about the fiscal realities of the current debt-based college loan system and raises tough questions about the extent to which student loans can be a viable way to facilitate equitable access to higher education. The book opens with relevant parts of the life stories of two students-one who grew up poor and had to take on high amounts of student debt, and another whose family could offer financial help at critical times. These real-life examples provide invaluable insight into the student debt problem and help make the complex data more understandable. A wide range of readers-from scholars of poverty, social policy, and educational equality to policymakers to practitioners in the fields of student financial aid and financial planning-will find the information in this text invaluable. Reveals the inadequacy of the scope of the current educational and economic policy debates, including moves to funnel low-income children toward two-year degrees, structure alternative debt repayment schedules, and constrain increases in college tuition Answers the question: "Does the student who goes to college and graduates but has outstanding student debt achieve similar financial outcomes to the student who graduates from college without student debt?" Examines an important subject of interest to educators, students, and general readers that is related to the larger topics of education, economics, social problems, social policy, public policy, debt, and asset building Provides empirical evidence and theoretical support for a fundamental shift in U.S. financial aid policy, from debt dependence to asset empowerment, including an explanation of how institutional facilitation makes Children's Savings Accounts potentially potent levers for children's educational attainment and economic well-being, before, during, and after college

Presenting an accessible introduction to Argentina's complex history, this book enables readers to better understand how Argentina's history follows and diverges from other South American nations. This second edition of The History of Argentina provides a broad overview of the country's cycles and changes with emphasis placed on the political and economic events that shaped the last five decades. Now updated to include additional information regarding recent developments in the Peronist faction that remains in power but continues to face old rivals and new threats, the book offers an introductory survey that features a general overview of key eras, events, trends, and individuals. The content covers a wide range of topics, including the impact of state-sponsored industrial growth since 1945; Spanish settlement and colonization; the Wars of Independence; Argentina's "mother industries," ranching and grain farming; immigration during the late 19th century; Argentina's economic "Golden Age" of 1880-1910; democratic reform in the early 20th century; Argentina in international trade; and Argentina's rivalries with Brazil and the United States. Serves as an accessible reference work that overviews Argentina's history and recent events, with particular coverage of the rise of presidents Nicolas Kirchner and Cristina Fernandez de Kirchner to dominance within the fractured Peronist movement Explores the domestic and international factors that shaped Argentina's economic boom and stagnation since 2001 Addresses the resurgent debate surrounding the collective effort to seek justice for those who fell victim to the state-sponsored terrorism that occurred during the "Dirty War" of the 1970s Demonstrates how Argentina's history roughly parallels that of Australia, Canada, and the United States-all nations that are products of colonialism, immigration, and rapid economic growth

This book provides an up-to-date study of public infrastructure in terms of the selection, procurement and delivery of projects. There is widespread acceptance that infrastructure is vital and needs increasing, yet less agreement about how it should be funded and procured. This book assesses in detail the features of various procurement options while also providing a framework for comparing their advantages and disadvantages. Drawing on international experiences and case studies, Darrin Grimsey and Mervyn Lewis consider some of the best and worst examples of public-private partnerships, new funding methods and infrastructure megaprojects. By offering a conceptual basis for infrastructure decision-making, the authors identify ways to improve infrastructure procurement processes. Focusing on urbanization as a driver of innovation in infrastructure, both the historical context and the future prospects of public infrastructure are analysed. Significantly, the book also examines China's ambitious plans to create a 'high-speed rail economy' and its Belt and Road Initiative across Asia that offers an interesting contrast to infrastructure developments in the United States and other advanced economies. Global Developments in Public Infrastructure Procurement is an essential source of reference for academics and students of economics, public sector finance and urban infrastructure.

The Journey of Life came about by the grace of God. Through his strength and my undying faith in him, he has given me the wisdom to share my experience and to enlighten people in a positive way. Having gone through many life-altering changes myself, by faith I have overcome all obstacles that stood in my way. My hope is to touch as many hearts and guide as many with the wisdom the Lord has blessed me with. With faith and love, nothing is impossible.

Ponzi schemes are a particularly vicious form of financial fraud, in that the overly trusting victims, who are often wiped out, typically share an affiliation with the fraudster. They are interesting, in that they share some features with legitimate financial phenomena (such as stock manias) and shed light on the human tendency towards behaving foolishly, especially when encouraged or modeled by others. In Understanding Ponzi Schemes, Mervyn Lewis has written what is probably the best and most comprehensive book on the topic. Extremely readable, this book uses both theoretical models and real-life case studies to provide readers with an answer to two questions: 'How do Ponzi schemes work and why are they successful?' Lewis also provides useful answers to a third question: 'What can regulators and individuals do to be protected from future incarnations of Charles Ponzi?''' - Stephen Greenspan, University of Connecticut, US and author of Annals of Gullibility'Starting with very readable (and well-referenced) accounts of various Ponzi fraudsters from Ponzi himself through to Madoff and Stanford, lessons are drawn from such diverse disciplines such as psychology and statistical analysis to advocate novel approaches to the regulation of Ponzi schemes. A 'must read' for regulatory policy-makers and a fascinating read for the general reader, Professor Lewis is to be congratulated for advancing the debate on this age-old phenomenon by suggesting distinctive and innovative strategies to tackle it.' - Eva Lomnicka, Dickson Poon School of Law, King's College London, UK 'Readers looking for a clear explanation of how Ponzi schemes work and description of recent and historical examples, both large and small scale, will find that in this very readable book. But the author, Professor Mervyn Lewis, goes well beyond those topics by drawing on behavioural economics and psychology to help understand how 'victims' get caught in such schemes, and the motives and behaviours of the scheme operators. That analysis also provides a valuable checklist for readers to help them avoid becoming victims.' - Kevin Davis, University of Melbourne, Australia A Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming forward. Despite this, however, people continue to invest in them. How are we to account for the seemingly never-ending lure of such schemes? In providing answers to this central question, this concise and well-researched book examines how Ponzi schemes operate, how they differ from pyramid schemes, Ponzi finance and other financial arrangements. The author questions whether the victims have only themselves to blame, why fraudsters think that they can avoid detection, and what important insights behavioural finance theory and psychology can add. Particular attention is paid to the reasons behind the failure of financial regulation, and the types of regulatory changes needed to protect investors and avoid repetitions. The analysis is informed by case studies of 11 Ponzi schemes in the US, UK, Australia and New Zealand. Finance and business academics interested in the operation of Ponzi schemes, and how they differ from pyramid schemes, will find this book invaluable, as will students of economics, finance, behavioural decision-making and psychology. Lawyers, psychologists, regulatory agencies and financial institutions will also benefit considerably from the analysis.

Same-sex attracted, and non-gender conforming African-Americans are substantial in number, yet underrepresented in the social and behavioral science literature. This volume addresses the issues of African-American LGBT psychology as a case of indigenous psychology. The authors present the research of scholars who are developing theory, practice, and services that are couched within the specific cultural complexities of this population. Some key topics addressed in AFrican-American Issues in LGBT Psychology are gender, spirituality, family, racism, "coming out," generational differences, health and safety issues, urban vs. rural realities, and implications for researchers.

From a single product offering in 1963, the Islamic financial services industry has grown to an estimated $1.6 trillion in assets. Products must comply with profit and risk-sharing criteria and regulations preventing banks from venturing into activities with high risk and excessive uncertainty. This timely volume analyses these matters and considers the range of new products, discussing both conceptual and practical dimensions.The expert contributors examine why an ethical foundation is important and why the system requires well-thought-out regulations to ensure outcomes that protect the community's well-being. The volume explores in detail the nature of Islamic banking products and their risk elements, how the system differs from conventional banking in theory and practice, and how Islamic financial institutions are rated and regulated. It also connects Islamic finance to the mainstream theoretical literature on financial intermediation whilst exploring its differences. Offering a detailed examination of the risk and regulation of Islamic banking products, this unique volume will be of great interest to Islamic and Western universities with courses in Islamic studies and finance. Islamic research centers and training institutes, central banks and Islamic regulatory agencies will also find this a valuable resource. Contributors: M. Ariff, M.A.M. Ayob, O.I. Bacha, Z. Hassan, M. Iqbal, A. Kaleem, M.A Laldin, Y.K.Leng, M.K.Lewis, A. Mirakhor, S. Mohamad, M.Z. Othman, S.P. Parashar, V. Promwichit, M. Safari, M.T. Skully, R. Zaman

The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field.From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.

Islamic finance refers to methods of undertaking banking and financial transactions that are in conformity with the precepts of Islam. As such, the system offers a challenge to conventional Western ways of thinking about financing. This indispensable set of papers brings together the most important previously published papers on the subject of Islamic Finance from the last four decades. Issues explored include: the prohibition on interest; financing instruments; accounting and regulatory issues; institutional structures and recent developments.

Banking, foreign exchange, bonds, equities and insurance services are now provided through an increasingly global marketplace. In financial services, as in other activities, globalization can be seen as a process opening up national economies and markets, widening the extent and form of cross-border transactions, deepening the international character of productive activity. As such, globalization is propelled by liberalization of trade and deregulation of capital markets, underpinned by technological change which is lowering communication and transport costs and enhancing the international tradeability of services.This volume brings together a range of articles examining the nature of globalization in financial services and the implications of the internationalization process for financial and regulatory policies. Contributions range from early analyses by Milton Friedman of the Eurodollar market, Harry Johnson of regional financial centres and Herbert Grubel of multinational banking to more recent studies examining the stock market crash of 1987, the globalization of payment systems and the financial collapse of BCCI and Barings. The 38 articles are divided into six sections covering trade in financial services, multinational banking, Eurocurrency banking, offshore services, exchange and securities and regulatory issues.

Rhetoric, Race, Religion, and the Charleston Shootings: Was Blind but Now I See is a collection focusing on the Charleston shootings written by leading scholars in the field who consider the rhetoric surrounding the shootings. This book offers an appraisal of the discourses - speeches, editorials, social media posts, visual images, prayers, songs, silence, demonstrations, and protests - that constituted, contested, and reconstituted the shootings in American civic life and cultural memory. It answers recent calls for local and regional studies and opens new fields of inquiry in the rhetoric, sociology, and history of mass killings, gun violence, and race relations-and it does so while forging new connections between and among on-going scholarly conversations about rhetoric, race, and religion. Contributors argue that Charleston was different from other mass shootings in America, and that this difference was made manifest through what was spoken and unspoken in its rhetorical aftermath. Scholars of race, religion, rhetoric, communication, and sociology will find this book particularly useful.