Assessing the Cost of Populism to Global Trade

2021 ◽  
pp. 166-194
Author(s):  
Kent Jones
Keyword(s):  
Business Environment ◽  
Welfare Cost ◽  
Global Trade ◽  
Trade Policies ◽  
Trade Restrictions ◽  
Business Investment ◽  
Labor Allocation ◽  
Trade Blocs ◽  
Global Problems ◽  
The Cost

This chapter assesses the cost of populist protectionism, beginning with the traditional measures of welfare cost from trade restrictions, as well as the institutional disruption it often entails, which amplifies these costs. One distinctive impact of Trump’s trade policies as well as from Brexit, for example, is the uncertainty it creates in the business environment, which itself tends to diminish business investment and trade. Populist protectionism, by flouting established rules, also tends to provoke retaliation, further compounding its cost. The systemic cost of eroding long-standing trade practices and norms also diminishes trust between populist governments and other countries, which may move global trade toward discriminatory, defensive trade blocs. Reduced trust may spill over into nontrade issues in which cooperation is required to solve cross-border or global problems, such as with the coronavirus crisis. Populist restrictions on immigration also have negative trade effects in terms of inefficient labor allocation, reduced output, and diminished trade opportunities.

scholarly journals Overcoming Adverse Selection: How Public Intervention Can Restore Market Functioning

2012 ◽  
Vol 102 (1) ◽  
pp. 29-59 ◽  
Author(s):  
Jean Tirole
Keyword(s):  
Mechanism Design ◽  
Adverse Selection ◽  
Welfare Cost ◽  
Public Intervention ◽  
The Government ◽  
The Cost

The paper provides a first analysis of market jump starting and its two-way interaction between mechanism design and participation constraints. The government optimally overpays for the legacy assets and cleans up the market of its weakest assets, through a mixture of buybacks and equity injections, and leaves the firms with the strongest legacy assets to the market. The government reduces adverse selection enough to let the market rebound, but not too much, so as to limit the cost of intervention. The existence of a market imposes no welfare cost. (JEL D82, D83, G01, G31, H81)

Problematizing the Privatization of Water

2018 ◽  
Author(s):  
Samantha Gamero
Keyword(s):  
Private Sector ◽  
World Bank ◽  
International Organizations ◽  
Special Interest Groups ◽  
Trade Policies ◽  
Safe Drinking Water ◽  
Human Right ◽  
The World ◽  
Precious Resource ◽  
The Cost

This presentation will focus on the issue of the privatization of water. The privatization of water is currently being facilitated by the growth of trade liberalization and the free trade policies of international organizations like the IMF and World Bank. It is also growing due to the neoliberal policies of states and because of the increasing power of the private sector (including well- funded lobby and special interest groups) over the policies of governments. The principal arguments and viewpoints of those who both support and oppose the privatization of water will be examined and evaluated. In particular, arguments concerning the cost and accessibility of water for people will be studied. The effects and implications of privatization in highly diverse communities in both developed and developing countries will be discussed. An example from the community of Cochabamba in Bolivia will be analyzed, showing many of the drawbacks that can come with the privatization of water. This presentation will argue that water is a precious resource which ought not to be treated as a commodity. Instead, it should be treated as a human right that no individual or corporation should make a monetary profit from. Governments ought to provide safe drinking water for their citizens, rather than leaving this duty to the private sector as is happening in many parts of the world.

scholarly journals CONCEPTUAL FOUNDATIONS FOR IMPROVING THE ASSESSMENT OF THE EFFECTIVENESS OF TERRITORY POSITIONING

2021 ◽  
Vol 71 (3) ◽  
Author(s):  
Elina Boichenko ◽  
Liudmyla Kobyliatska
Keyword(s):  
Cost Effectiveness ◽  
Modern Science ◽  
Well Being ◽  
Business Environment ◽  
Intangible Asset ◽  
Social Nature ◽  
Clean Environment ◽  
Brand Promotion ◽  
Business Entities ◽  
The Cost

The article deals with the problems of positioning the Territory (Country, Region, United territorial communities). When positioning a territory, use only such characteristics that are important, for example, for business entities, investors, residents, or persons who are interested in this territory, and which they focus on when making their choice. It is proved that the results of positioning the territory can be considered the formation of economic, social, and attractive attractiveness of the territory. The essence of economic attractiveness as a set of results of financial and economic activity of the economic complex of the territory and its economic potential is considered. Social attractiveness is considered as a process of creating a qualitative state of the living conditions of society, and above all, increasing the level of its social well-being. Attractivity in the context of forming the attractiveness of the territory is considered as a symbiosis of appropriate household (comfortable) conditions for the life of the population and a clean environment, the existence of a favorable business environment that ensures the efficiency of business activities and creates the basis for meeting the various needs of society. The results of positioning a territory are considered as an intangible asset that has its value. The effectiveness of measures for positioning a territory (country, region, ah) can be determined using appropriate assessments of its effectiveness. In modern science, the concept of "efficiency" is considered an economic category that has independent qualitative and quantitative characteristics. Note that efficiency will be understood as the ratio between the results obtained and the costs (resources) for obtaining these results. When evaluating the effectiveness of territory positioning, we consider comparing the costs already incurred with the results of the positioning procedure. Thus, the importance of improving the assessment of the effectiveness of territory positioning is primarily due to the social nature of these costs. Estimating the cost-effectiveness of territory positioning is significantly complicated. This is because the results of this process (image creation, brand promotion, business reputation formation) are expressed not so much in monetary or value-form, but have an intangible effect. Difficulties in estimating the cost-effectiveness of territory positioning arise due to the uncertainty of the final result, which can only be predicted approximately. Thus, it is advisable to consider the results of positioning the territory as an intangible asset that has its value. The article offers an approach to assessing the effectiveness of territory positioning, which consists of using a system of indicators that combines economic, social, and attractive efficiency.

Changing Tides: Geopolitics and Global Trade Blocs

2017 ◽  
pp. 251-267
Author(s):  
Mark Baimbridge ◽  
Ioannis Litsios ◽  
Karen Jackson ◽  
Uih Ran Lee
Keyword(s):  
Global Trade ◽  
Trade Blocs

Business Development and Environmental Impact in the Solar (PV) Field

2017 ◽  
pp. 44-84
Keyword(s):  
Economic Analysis ◽  
Financial Incentives ◽  
Investment Decision ◽  
Business Environment ◽  
Business Development ◽  
Point Of View ◽  
Pv System ◽  
Investment Projects ◽  
Electricity Cost ◽  
The Cost

The techno-economic analysis of a PV system is designed to measure the viability of the designed system from an economical and technological point of view assuming some specific environmental conditions. In this research, for the techno-economic analysis of PV system the authors are focused on four general categories of factors which are highly influential on the investment decision in this field. These are the PV system costs, the electricity cost, the sunlight and other environmental characteristics and the financial incentives. Each of this factors is analyzed in order to understand and evaluate the general conditions that influence the decision in the photovoltaic business. The methodology that is used for explaining the real business environment in PV field and the main indicators that can estimate the investment profitability is the case study related to formal opportunities for developing PV investment projects in Romania. The investors in PV field have to understand the life cycle of a PV system that can give an overlook of the cost reduction opportunities and also make them sensible to the decommissioning phase of such an investment. For future investments in the PV field in Europe the authors identified and analyzed the main factors that characterize the PV business development in the next period.

Business Ethics and Cost Management in SMEs

2018 ◽  
pp. 109-127
Author(s):  
Sorinel Căpusneanu ◽  
Dan Ioan Topor
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Business Ethics ◽  
Ethical Behavior ◽  
Ethical Issues ◽  
Cost Management ◽  
Business Environment ◽  
Corporate Social ◽  
The Cost ◽  
Empirical Framework

This chapter illustrates aspects of business ethics and cost management applicable to small and medium-sized entities. The main objectives of this chapter are to identify and clarify ethical issues and business ethics theories applicable to small and medium-sized entities as well as to identify the functions and principles underpinning the cost management of small and medium-sized entities. Based on the literature, the authors also identify the factors that generate the ethical behavior, the organizational culture, the factors that influence the cost management of small and medium entities. There are also highlights of sustainable development and corporate social responsibility through which small and medium-sized entities align with the expectations and requirements of customers, the population and investors. Through the authors' contribution, a new conceptual and empirical framework is created to discuss other issues encountered in the business environment of small and medium-sized entities.

scholarly journals Knowledge management a competitive edge for law firms in Botswana in the changing business environment

2015 ◽  
Vol 17 (1) ◽  
Author(s):  
Madeleine Fombad
Keyword(s):  
Knowledge Management ◽  
Knowledge Economy ◽  
Business Environment ◽  
Law Firms ◽  
Private Sector Development ◽  
Knowledge Based ◽  
Quantitative And Qualitative Research ◽  
Knowledge Based Economy ◽  
Potential Benefits ◽  
The Cost

Background: Law firms in Botswana offer a particularly interesting context to explore the effects of transition in the knowledge economy. Acquiring and leveraging knowledge effectively in law firms through knowledge management can result in competitive advantage; yet the adoption of this approach remains in its infancy. Objectives: This article investigates the factors that will motivate the adoption of knowledge management in law firms in Botswana, and creates an awareness of the potential benefits of knowledge management in these firms.Method: The article uses both quantitative and qualitative research methods and the survey research design. A survey was performed on all 115 registered law firms and 217 lawyers in Botswana. Interviews were conducted with selected lawyers for more insight. Results: Several changes in the legal environment have motivated law firms to adopt knowledge management. Furthermore, lawyers appreciate the potential benefits of knowledge management. Conclusion: With the rise of the knowledge-based economy, coupled with the pressures faced by the legal industry in recent years, law firms in Botswana can no longer afford to rely on the traditional methods of managing knowledge. Knowledge management will, therefore, enhance the cost effectiveness of these firms. Strategic knowledge management certainly helps to prepare law firms in Botswana to be alive to the fact that the systematic harnessing of legal knowledge is no longer a luxury, but an absolute necessity in the knowledge economy. It will also provide an enabling business environment for private sector development and growth and, therefore, facilitate Botswana’s drive towards the knowledge-based economy.

scholarly journals Malaysia Private Entity Reporting Standard (MPERS) adoption for SMEs: Insights from Accounting Practitioners in Malaysia

2020 ◽  
Vol 10 (2) ◽  
pp. 104
Author(s):  
Nurul Nazlia Jamil ◽  
Nathasa Mazna Ramli ◽  
Ainulashikin Marzuki ◽  
Nurul Nadiah Ahmad
Keyword(s):  
Small And Medium Enterprises ◽  
Cost Effective ◽  
Business Environment ◽  
Reporting Standard ◽  
Effective Manner ◽  
Accounting Practitioners ◽  
Inherent Problem ◽  
Private Entity ◽  
Medium Enterprises ◽  
The Cost

Small and medium enterprises (SMEs) have very significant contribution to economic growth of the countries as more than 95% of companies worldwide and employment are represented by the SMEs industries. Therefore, in increasing the harmonization of reporting standard of SMEs, Malaysia is moving aggressively towards the efforts by introducing the Malaysian Private Entity Reporting Standard (MPERS) for SMEs starting from 1st January 2016 onwards. MPERS is seen to bring opportunities to the business as it is adoption of international standard that has been designed to fits the local needs and the customization to the Malaysian business environment could ensure comparability of the locals with the international business. Hence, this research attempt to 1) examine the perceptions of accounting practitioners on MPERS implementation and 2) identify the problems encountered in applying MPERS in SMEs. This study provides pioneering evidence on the problems of the practitioners encountered when applying the MPERS through the 176 questionnaires survey that have been distributed to the accounting practitioners that involve with MPERS implementation for SMEs in Malaysia. The insights and perceptions obtained highlighting new dimensions to the inherent problem such as issues of consistency and guidance in applying the MPERS with the cost-effective manner. Thus, the issues of differences in judgements among the practitioners become a phenomenon in relation to the application of MPERS for SMEs. The findings of this study are of interest to standard setters and SMEs stakeholders in Malaysia and other countries.

Implementation of Time-Driven Activity-Based Costing System in the Manufacturing Industry

2020 ◽  
pp. 272-283 ◽  
Author(s):  
Ahmet Özcan
Keyword(s):  
Manufacturing Industry ◽  
Business Environment ◽  
Activity Based Costing ◽  
Strategic Decisions ◽  
Quality Cost ◽  
Goods And Services ◽  
Costing System ◽  
The Cost ◽  
Capacity Cost

In the current business environment, the costing system used within the firms has prominent impact on strategic decisions. High-quality cost data significantly increases the quality of firms' strategic decisions. The activity-based costing system has failed to satisfy the needs of firms operating in the competitive economic environment. The time-driven activity-based costing system is the developed version of activity-based costing system. Time-driven activity-based costing system is one of the most sophisticated costing systems that enable firms to accurately calculate the cost of goods and services. Time-equations are used in time-driven activity-based costing system to estimate the time consumed by each activity. This chapter aims to discuss main dynamics of time-driven activity-based costing system and provides an illustration of this costing system in the manufacturing industry. The case study demonstrates that time-driven activity-based costing system is useful in calculating idle capacity cost.

scholarly journals The welfare cost of inflation with banking time

2018 ◽  
Vol 20 (1) ◽  
Author(s):  
Max Gillman
Keyword(s):  
Inflation Rate ◽  
Government Expenditure ◽  
Welfare Cost ◽  
Zero Inflation ◽  
Fundamental Parameters ◽  
Welfare Cost Of Inflation ◽  
Special Cases ◽  
Zero Rate ◽  
Production Technologies ◽  
The Cost

Abstract The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank production approach. The estimate of welfare cost uses fundamental parameters of utility and production technologies. It is compared to a cash-only economy, and a [Lucas, Robert Jr. E. 2000. “Inflation and Welfare.” Econometrica 68 (2): 247–274.] shopping economy without leisure, as special cases. The paper estimates the welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation rate instead of a zero inflation rate. A zero rate is statutorily specified as the US inflation rate target in the 1978 Employment Act amendments. The paper provides a conservative welfare cost estimate of 2% inflation instead of zero at $33 billion a year. Estimates of the percent of government expenditure that can be financed through a 2% vs. zero inflation rate are also provided.

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