scholarly journals Nordic economic policies in the 1970s and 1980s

1987 ◽  
Vol 41 (3) ◽  
pp. 403-456 ◽  
Author(s):  
Lars Mjøset
Keyword(s):  
Economic Policy ◽  
Political Mobilization ◽  
External Pressure ◽  
Nordic Countries ◽  
Economic Policies ◽  
Policy Model ◽  
Structural Problems ◽  
The World ◽  
The 1960S ◽  
Favorable Conditions

Although the Nordic countries are small, open economies, they were able to benefit considerably from the expansion of the world economy during the “Golden Age” of the 1950s and 1960s. They achieved industrial diversification and consolidated welfare-state reforms. Throughout this period, several economic policy routines were institutionalized. These routines may be analyzed as parts of a specific economic policy model, determined by the economic structure and the pattern of political mobilization. It seems more fruitful to distinguish five such models rather than to use the generalizing notion of a “Scandinavian model.” In the 1970s, the world economic crisis posed new challenges for the Nordic countries. In the first phase of the crisis, economic policies continued to operate in accordance with the established routines. But structural problems, new patterns of political mobilization, and new forms of external pressure forced governments to shift towards austerity policies in the late 1970s. The extent and the specificities of these shifts are compared and the degree to which the economic policy models have changed assessed. Such an analysis is a first step to answer some crucial questions now facing the Nordic countries: Was their flexible adjustment merely the result of favorable conditions during the 1960s—or is it a permanent trait? Are they now trapped between large industrial nations and dynamic newly industrializingcountries? If so, what will be the fate of their advanced welfare sectors?

The Transformation of the Nordic Models

1987 ◽  
Vol 22 (4) ◽  
pp. 227-243 ◽  
Author(s):  
Jan Otto Andersson ◽  
Lars Mjøsset
Keyword(s):  
World Economy ◽  
Nordic Countries ◽  
Production Model ◽  
Western World ◽  
Economic Policies ◽  
Policy Makers ◽  
The World ◽  
Neoliberal Policies ◽  
The 1960S ◽  
The Impact

With reference to an extensive comparative study of the Nordic economic political models, this article discusses some perspectives for the 1990s. Five economic political models developed as the Nordic area was integrated into the postwar world economy. They emerged as the Nordic countries — on the basis of their specific geo-economic and political-institutional conditions — emulated the Fordist growth model, which originated in the US. The downturn of the Western world economy was a crisis for the Fordist mass consumption/mass production model. We trace the consequences of this crisis for the Nordic models. Policy makers first tried to maintain the established routines of the 1960s, but failed, fumbled and finally turned to more austere, neo liberal economic policies. As a result, there seems to be a certain convergence between the five models, a specific Nordic version of neo-liberalism. Despite this, we doubt that continued neoliberal policies will prove able to cope with the challenges that the Nordic countries face as the world heads into the 1990s. Neoliberal policies aim to promote flexibility by reducing the impact of the state, by liberalizing labour markets and by relying on full integration within the world economy. Alternatively, we argue in our last section that policies should aim to promote flexible specialization by making the welfare state a comparative advantage in connection with industrial policies, by extending efforts at democratization of decisions concerning labour process organ ization and work environment, and by stimulating Nordic integration.

Assessment of Poland's Economic Policy During te Crisis

2013 ◽  
Vol 8 (3) ◽  
pp. 195-210
Author(s):  
Stefan Krajewski
Keyword(s):  
Economic Policy ◽  
Pension System ◽  
Fiscal Sustainability ◽  
Economic Policies ◽  
Role Of The State ◽  
The Usa ◽  
Reducing Costs ◽  
Polish Economy ◽  
Favorable Conditions ◽  
The Eu

The rapid weakening of economic activity, covering most states in the world, gives rise to a lively discussion on the choice of methods to tackle the crisis, the legitimacy and effectiveness of various economic policies, the role of the state and the scope of its intervention in the economy. The paper evaluates the Polish economic policy in recent years. This refers to the situation prevailing in the EU and the USA. I conclude that the Polish economy during the crisis remained relatively stable, without having to provide the emergency aid from the outside. The development of such a situation has been affected by different reasons, including: - The benefits of the so-called "backwardness rent", which resulted, among others, in the inflow of EU funds (Poland was in 2007-2013 and in will be in 2014-2020 the biggest beneficiary of the EU budget); - The effects of decisions on changes in the tax and social security, taken for political reasons (before the crisis); - The controversial withdrawal from the funded pension system, reducing the budget deficit and public debt; - The prudent monetary policy and anti-inflation policy pursued over many years. Actions taken in Poland are primarily focused on reducing costs, which differs quite significantly from the economic policy dominant in the U.S. and the "old" EU countries which generally pursue expansionary fiscal policy and a policy of cheap money. Polish solution facilitates the achievement of short-term fiscal sustainability, but does not create favorable conditions for the development in the long-term (insufficient investment, petrification of economic structure, lack of innovation). 

Putinomics

2018 ◽  
Author(s):  
Chris Miller
Keyword(s):  
Economic Policy ◽  
Oil Prices ◽  
Great Power ◽  
Economic Policies ◽  
Economic Stability ◽  
Economic Strategy ◽  
The World ◽  
The Face ◽  
Vladimir Putin

When Vladimir Putin first took power in 1999, he was a little-known figure ruling a country that was reeling from a decade and a half of crisis. In the years since, he has reestablished Russia as a great power. How did he do it? What principles have guided Putin's economic policies? What patterns can be discerned? In this new analysis of Putin's Russia, Chris Miller examines its economic policy and the tools Russia's elite have used to achieve its goals. Miller argues that despite Russia's corruption, cronyism, and overdependence on oil as an economic driver, Putin's economic strategy has been surprisingly successful. Explaining the economic policies that underwrote Putin's two-decades-long rule, Miller shows how, at every juncture, Putinomics has served Putin's needs by guaranteeing economic stability and supporting his accumulation of power. Even in the face of Western financial sanctions and low oil prices, Putin has never been more relevant on the world stage.

Fidel Castro and “China's Lesson for Cuba”: A Chinese Perspective

2007 ◽  
Vol 189 ◽  
pp. 24-42 ◽  
Author(s):  
Yinghong Cheng
Keyword(s):  
Economic Reforms ◽  
Economic Policies ◽  
Domestic Consumption ◽  
Global Impact ◽  
Fidel Castro ◽  
Chinese Perspective ◽  
The World ◽  
The Future ◽  
The 1960S ◽  
The One

This article examines the global impact of China's post-Mao transformation as reflected in Sino-Cuban relations. China and Cuba resumed their comradeship after Castro endorsed China's crackdown of the 1989 pro-democracy movement, and since then Beijing has promoted its approach towards legitimizing the one-party regime through engaging in economic reforms and opening to the world to Havana. “China's lesson for Cuba” has been discussed by many Cubanists worldwide. However, the Chinese approach has posed a dilemma to Fidel Castro: he admires China's power but has doubts about the future of socialism in China. The article argues that Castro has so far adopted his old strategy for dealing with Soviet influence in the 1960s in his engagement with China: praising his political ally's power as the evidence of socialism's vitality for his domestic consumption, while significantly limiting the application of China's economic policies. But his more pragmatic successors, Raul Castro in particular, may adopt the Chinese approach.

scholarly journals Should China’s Economic Policy Be Resisted?

2021 ◽  
Author(s):  
Valentin K. POSPELOV ◽  
Valentina N. MIRONOVA ◽  
Petr I. CHUVAKHIN
Keyword(s):  
United States ◽  
Economic Policy ◽  
World Economy ◽  
The United States ◽  
Economic Policies ◽  
The Public ◽  
Reform Period ◽  
The World ◽  
Free Trade Policy ◽  
Economic Strengthening

China's economic policies were transformed during the reform period that started in 1979, when the most populated country in the world adopted market-based reforms. Currently, China not only has grown to become the second largest and mid income economy in the world from one of the world's poorest countries, but also actively advances the free trade policy and fills the developing niches, although the latter has caused some concerns. The Chines active economic policy along with its economic and political strengthening in addition to the tensions with the United States rise the question whether the Chinese economic policy should be resisted? This paper analyses the different aspects of China’s economic policy and intents to answer the question based on the importance of the Chinese role in the world economy and development while the public opinion toward China’s economic strengthening has been considered as well.

scholarly journals Privatization-A Device for Reforming Public Enterprise Sector in Pakistan

1991 ◽  
Vol 30 (4II) ◽  
pp. 895-905 ◽  
Author(s):  
Istaqbal Mehdi
Keyword(s):  
Developing Countries ◽  
Economic Policy ◽  
Private Sector ◽  
The State ◽  
Public Enterprise ◽  
Public Enterprises ◽  
Performance Constraints ◽  
The World ◽  
The Government ◽  
The 1960S

Privatization as an instrument for development is rmding significant currency in industrial and developing countries throughout the world. 1YPically, its need arises from the concerns over efficiency with which the state can manage public enterprises (PEs) or large and growing claims of these enterprises on national budgets. In Pakistan its need emanates from both. Barring a few years in the early 1970s, the policy of development through private enterprise remained the mainstay of the Government of Pakistan (GOP) economic policy throughout the four decades of the country's life. In fact, a policy of privatization i.e., transferring public assets to the private sector control remained an enunciated policy in the 1950s and the 1960s, which was again adopted in the late 1970s. However· it was not until late the 1980s that concerted efforts were mounted to breath life into the moribund programme of privatization. In developing a programme for privatization the question faced by us concern the size of the existing PE sector, its performance, constraints in and prerequisite for privatization. The most important question is can we privatize all PEs, if not, then what productivity enhancing measures can we take for enterprises which cannot be privatized in the immediate future.

scholarly journals MEMAHAMI KEBIJAKAN EKONOMI POLITIK TIGA KHALIFAH (Sebuah Kajian Historis Tiga Fase Peradaban Islam)

2018 ◽  
Vol 2 (2) ◽  
pp. 156-167
Author(s):  
Ayief Fathurrahman
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Economic Thought ◽  
The Political ◽  
Economic Policies ◽  
Human Thought ◽  
The People ◽  
The World ◽  
Political Economic ◽  
Dimensions Of Space

One thing that needs to be understood is that every result of human thought is always historical, tied to the space and time around it. The economic policies issued by Umar ibn Khat}t}a>b, Umar ibn Abdul Azi>z and Ghazan Khan must have certain truths in accordance with the dimensions of space and the cycle of time. However, the form of policy is an effort to solve the problems of the State, especially the economic sector that occurred in the middle of their leadership period. This article aims to examine the political economic thought of three caliphs, namely Umar ibn Khat}t}a>b, Umar ibn Abdul Azi>z, and Ghazan Khan with a historical approach. Political economic policy decided by Umar ibn Khat}t}a>b, Umar ibn Abdul Azi>z, and Ghazan Khan has a character that is flexible. It means however its method, during its goal to create welfare for the people and not in conflict with al-Quran and al-Sunnah, then that policy is applied. This was apparent when some of their policies are not always same as Prophet’s policy, even differ from each other, but with that difference, the world has recorded them as a brilliant decision maker. The policy of the three caliphs teaches us the ultimate determinants of the economic policy of the meaning of welfare (mas}lah}ah) which form the basis of the formulation of one policy. Rigid economic system will only become a separate boomerang for economic growth itself. Because the true that the holy economic goal is not economic growth, but the welfare of mankind as perpetrators of economic activity in this hemisphere.

Economic Policies: From Pace-Setter to Beleaguered Player

2003 ◽  
Author(s):  
Kenneth Dyson
Keyword(s):  
Economic Policy ◽  
Goodness Of Fit ◽  
Federal State ◽  
Unintended Effects ◽  
Economic Policies ◽  
Policy Reforms ◽  
Policy Model ◽  
Traditional Assumption ◽  
Social Market ◽  
State Relations

This chapter traces how rapidly evolving mechanisms of EU governance have affected German economic policy since the Treaty of Maastricht was agreed in 1991. Its central theme is the transition of Germany from ‘pace-setter’ in the constitutive politics of designing EMU to ‘beleaguered player’ in the regulative politics of its implementation, from Germany as policy model to Germany as the main problem. Europeanization has both reinforced traditional policy beliefs in ‘sound’ finance and acted as a catalyst for domestic policy reforms by strengthening the domestic discourse of competitiveness. It has also led to significant pressures for institutional reconfiguration, notably within the federal executive, federal-state relations, and the Bundesbank. The chapter questions the traditional assumption of a goodness of ‘fit’ between German and EU economic policies, in part because of unintended effects from the EMU and in part because, despite emphasis on a consensus about the ‘social market’ economy, Germany lacks a unitary economic policy model.

Actual Problems of Economic Policy

2003 ◽  
pp. 23-38 ◽  
Author(s):  
M. Ershov
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Foreign Exchange ◽  
World Economy ◽  
Domestic Economy ◽  
The World ◽  
Exchange Policy ◽  
Effective Integration

At present Russia faces the task of great importance - effective integration into the world economy. The success of this process largely depends on the strength of the domestic economy and stable economic growth. To attain such a goal certain changes in economic approaches are required which imply more active, focused and concerted steps in the monetary, fiscal and foreign exchange policy.

Between Modernization and Stagnation: Economic Policy in 2012

2013 ◽  
pp. 4-23 ◽  
Author(s):  
V. Mau
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Economic Development ◽  
Structural Transformation ◽  
Economic Performance ◽  
Historical Analysis ◽  
Oil Boom ◽  
The World

The paper deals with the trends in the world and Russian economies towards development of a new post-crisis system, including technological and structural transformation. Three main scenarios of Russian economic development (conservative, innovation and acceleration) are discussed basing on historical analysis of Russian economic performance since 1970-s when oil boom started. On this basis key challenges of economic policy in 2013 are discussed.

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