Stakeholders, Citizens, Clients, and Intermediaries

Clients or citizens? Some considerations for primary care organisations.

Health services policy in the United Kingdom has given prominence to patient and public participation within a 'modernization' agenda. The superficial consensus in support of lay participation masks a conflicting array of ideologies and theoretical perspectives that colour how this is interpreted. Both client-oriented perspectives and citizenship-oriented approaches are limited by the dynamics ...

Policy, Discourse, and Institutional Reform: Clients to Citizens: the Case of Public Opinion Mobilization in Naples

Intermediaries and payments instruments

Financial Intermediaries and Markets

A complex financial system comprises both financial markets and financial intermediaries. We distinguish financial intermediaries according to whether they issue complete contingent contracts or incomplete contracts. Intermediaries such as banks that issue incomplete contracts, e.g., demand deposits, are subject to runs, but this does not imply a market failure. A sophisticated financial system...

Hybrid Intermediaries

I introduce the concept of hybrid intermediaries: financial conglomerates that control a multiplicity of entity types active in the “assembly line” process of modern financial intermediation, a system that has become known as shadow banking. The complex bank holding companies of today are the best example of hybrid intermediaries, but I argue that financial firms from the “nonbank” space can ju...