Introduction

2021 ◽  
pp. 1-20
Author(s):  
Stephen E. Gent ◽  
Mark J. C. Crescenzi
Keyword(s):  
Market Power ◽  
Global Economy ◽  
Economic Interdependence ◽  
Gray Zone ◽  
Research Project ◽  
Power Politics ◽  
Territorial Expansion ◽  
Territorial Integrity ◽  
The Face

This introductory chapter provides an overview of this study of market power politics. Two main puzzles drive this research. First, why do some states continue to pursue policies of territorial expansion in the face of widely accepted norms of territorial integrity and increased interconnectedness in the global economy? Second, why do these states sometimes turn to strategic delay and gray zone tactics, rather than war or institutional settlements, to achieve their expansionist goals? To answer these puzzles, the chapter introduces a theory of market power politics. According to this theory, the desire to gain market power motivates states to expand their territorial reach, while the presence of economic interdependence and international instructions can constrain states from taking aggressive steps in pursuit of these goals. After discussing some contributions of the research project, the chapter concludes with an outline of the book.

Conclusion

2021 ◽  
pp. 206-228
Author(s):  
Stephen E. Gent ◽  
Mark J. C. Crescenzi
Keyword(s):  
Market Power ◽  
Caspian Sea ◽  
International Institutions ◽  
Policy Implications ◽  
Conflict Behavior ◽  
Future Research ◽  
Gray Zone ◽  
The Caspian Sea ◽  
Power Politics

This concluding chapter addresses some additional aspects of market power politics and outlines several implications of this study for scholars and policymakers. First, to complement the previous case studies of violence and strategic delay, it provides a brief discussion of Russia’s decision to abandon a delay strategy and agree to a settlement of the long-running dispute over the Caspian Sea. It then outlines a set of questions for future research on market power politics. Next, the chapter reflects upon how the research in the book informs an understanding of international relations. It highlights some important lessons concerning the effects of market structure on conflict behavior and the limitations of international institutions. It then contemplates the future role of gray zone tactics by countries like Russia and China. The chapter concludes with a discussion of some of the policy implications that follow from this research.

Empirical Cases

2021 ◽  
pp. 81-93
Author(s):  
Stephen E. Gent ◽  
Mark J. C. Crescenzi
Keyword(s):  
Foreign Policy ◽  
Rare Earth ◽  
Rare Earth Elements ◽  
Market Power ◽  
Commodity Markets ◽  
Power Politics ◽  
Territorial Expansion ◽  
Significant Control ◽  
Gas Market ◽  
Selection Of

This chapter discusses the selection of the case studies for the book: Iraq and the oil market, Russia and the natural gas market, and China and the rare earth elements market. These cases provide useful plausibility probes for the authors’ theory of market power politics. First, these cases involve competition in key commodity markets in which states could potentially have the opportunity and willingness to pursue a market power opportunity though territorial expansion. Second, since these states have had significant control over their firms in these commodity markets, one can isolate the mechanism by which market power motivations influence foreign policy decisions. Finally, these cases include incidents of both violence and strategic delay, which provides variation on the dependent variable.

scholarly journals Building the Collective Imagination in the Bestsellers of the Western World

2021 ◽  
Vol 4 (2(10)) ◽  
pp. 11-24
Author(s):  
Milena Gammaitoni
Keyword(s):  
Social Identity ◽  
Global Economy ◽  
Literary Fiction ◽  
Western World ◽  
Cultural Industry ◽  
Emotional Instability ◽  
Research Project ◽  
The Face ◽  
Collective Imagination ◽  
High Level

This study constitutes the first ever sociological investigation of the contents of western bestsellers, published and examined between 1998 and 2017. The research project analysed the contents, action and values, as well as the pathways pursued in order to construct social identity and create the stories and characters portrayed. It emerged that the cultural industry aimed at producing works with a high level of readability capable of facilitating their diffusion among people of the lower-middle, higher-middle and higher classes of society. Some advance the hypothesis that, in the face of economic crises and slowdowns in the global economy, there has been an increase in the need for literary fiction, for escape and identification with problems, such as the loss of employment, the impoverishment of families and emotional instability, common to the so-called fluid society.

Russia

2021 ◽  
pp. 125-169
Author(s):  
Stephen E. Gent ◽  
Mark J. C. Crescenzi
Keyword(s):  
European Union ◽  
Market Power ◽  
Price Setting ◽  
Gray Zone ◽  
The European Union ◽  
Territorial Expansion ◽  
Russian State ◽  
Gas Market ◽  
High Level ◽  
Political Leverage

This chapter examines how Russia’s pursuit of territorial expansion and gray zone tactics in Georgia and Ukraine can be seen as part of its overall strategy to preserve and expand its market power in the natural gas market. As the predominant gas supplier to many European countries, Russia’s state-owned gas company, Gazprom, has price-setting capabilities that the Russian state can exploit to extract rents and exert political leverage internationally. As part of its overall strategy to block potential competitors and secure its control over the transit of gas to European consumers, Russia has perpetuated territorial disputes with neighboring Georgia and Ukraine. Given its high level of economic interdependence with the European Union, Russia has largely refrained from escalating these disputes militarily and has instead relied upon strategic delay to achieve its market power goals.

Spatial Competition in Local Audit Markets and the Fallout on Deloitte from the 2007 PCAOB Censure

2016 ◽  
Vol 36 (2) ◽  
pp. 1-19 ◽  
Author(s):  
Jeff P. Boone ◽  
Inder K. Khurana ◽  
K. K. Raman
Keyword(s):  
Market Power ◽  
Audit Quality ◽  
Spatial Competition ◽  
Spatial Location ◽  
Audit Fees ◽  
Audit Market ◽  
Big 4 ◽  
Audit Fee ◽  
The Face ◽  
Market Leader

SUMMARY We examine whether Deloitte's spatial location in local audit markets affected the firm's adverse fallout—in terms of decreased ability to retain new clients and maintain audit fees—from the 2007 PCAOB censure. We motivate our inquiry by the notion that auditor-client alignment and auditor-closest-competitor distance can help differentiate the incumbent Big 4 auditor from other Big 4 auditors and thus provide market power, i.e., inhibit clients from shopping for another supplier because of the lack of a similar Big 4 provider in the local audit market. Consequently, it seems reasonable that the increase in switching risk and loss of fee growth suffered by Deloitte following the 2007 PCAOB censure will be lower in local markets where Deloitte was the market leader and its market share distance from its closest competitor was greater. Our findings suggest that the decline in Deloitte's audit fee growth rate following the 2007 PCAOB censure was concentrated in the pharmaceutical industry, although the client loss rate appears to have occurred more broadly (across all cities and industries). Collectively, our findings suggest that audit quality issues override auditor market power, i.e., differentiation does not provide Big 4 firms market power in the face of adverse regulatory action. JEL Classifications: G18; L51; M42; M49.

scholarly journals Insourcing as a New Trend in Global Business

2013 ◽  
Vol 5 (2) ◽  
pp. 7-24
Author(s):  
Jadwiga Chudzicka
Keyword(s):  
Economic Crisis ◽  
Global Economy ◽  
Global Business ◽  
Traditional Management ◽  
The World ◽  
Current Economic Situation ◽  
The Face ◽  
World Economic ◽  
Job Category ◽  
World Economic Crisis

AbstractIn the face of world economic crisis, it is worth considering ‘what changes in thinking are needed to revive the global economy?’ Traditional management methods have already lost much of their potential. Keeping the compliance of job category with human nature is an important factor supported by insourcing. The purpose of this study was to answer the question whether the current economic situation in the world is more profitable to firms sending domestic jobs overseas, or perhaps - in the end - it is better to use insourcing services, providing employment to workers in their home countries

scholarly journals Green Tourism in the Context of Sustainable Development and the Challenges Posed by the Global Economic Crisis

2020 ◽  
Vol 3 (45) ◽  
pp. 11-17
Author(s):  
T. O. Zinchuk ◽  
◽  
T. V. Usiuk ◽  
Keyword(s):  
Sustainable Development ◽  
Economic Crisis ◽  
Rural Areas ◽  
Global Economy ◽  
Sustainable Development Goals ◽  
Tourism Development ◽  
The Sustainable Development ◽  
The Face ◽  
Green Tourism ◽  
Development Goals

The articles aims to substantiate the socio-economic, environmental, historical and cultural role played by green tourism and its contribution to the implementation of Sustainable Development Goals based on current innovative trends and capabilities of tourism in the face of challenges posed by the ongoing crisis in global economy caused by the latest pandemic. The objectives of the research were to detail the theoretical, methodological and applied approaches to the development of green tourism, which is a market sector providing travel services. The definition of green tourism has been made more profound through connecting it with the Sustainable Development Goals, which is rather logical. The motivating factors for the development of green tourism have been analyzed taking into account the model of multifunctionality in agriculture and its importance in rural development policy. The nature of changes in the green tourism sector has been identified with respect to the peculiarities of the current global situation, when a pandemic is restraining the world tourism intensity, on the one hand, and is stimulating local tourism, on the other. It is worth adding that local tourism is mostly green and focused on the conservation of the environmental and natural resources, as well as sustainment of mostly rural areas. The research carried out shows that green tourism can become a driving force for economic growth in rural areas, a motivator for employment, a factor in preserving rural culture and traditions in a particular area. At the same time, the results of the research prove the existence of a link between green tourism and national economic, environmental, socio-cultural, intellectual, energy security due to the most typical development priorities of such tourism. On analyzing the experience of the countries that suffered the pandemic most, we have found some prospects for green tourism development. It is a new system of partnership between the state, business and civil society which can become an additional incentive to preserve the potential of green tourism. Thus, strategic guidelines for green tourism development based on institutional priorities, with the current economic crisis challenges in mind, have been designed.

Market Power Politics

2021 ◽  
Author(s):  
Stephen E. Gent ◽  
Mark J.C. Crescenzi
Keyword(s):  
Natural Gas ◽  
Market Power ◽  
Global Market ◽  
Export Market ◽  
Power Politics ◽  
Territorial Aggression ◽  
Oil Export ◽  
Potential Benefits ◽  
Gas Market ◽  
Political Leverage

This book explores how market power competition between states can create disruptions in the global political economy and potentially lead to territorial aggression and war. When a state’s firms have the ability to set prices in a key commodity market like oil or natural gas, state leaders can benefit from increased revenue, stability, and political leverage. Given these potential benefits, states may be motivated to expand their territorial reach in order to gain or maintain such market power. This market power motivation can sometimes lead to war. However, when states are economically interdependent, they may be constrained from using force to achieve their market power goals. This can open up an opportunity for institutional settlements. However, in some cases, institutional rules and procedures can preclude states from reaching a settlement in line with their market power ambitions. When this happens, states may opt for strategic delay and try to gradually accumulate market power over time through salami tactics. To explore how these dynamics play out empirically, the authors examine three cases of market power competition in hard commodity markets: Iraq’s invasion and occupation of Kuwait to seize market power in the oil export market, Russia’s territorial encroachment into Georgia and Ukraine to preserve and expand its market power in the natural gas market, and China’s ongoing use of strategic delay and gray zone tactics in the South and East China Seas to maintain its dominant position in the global market for rare earth elements.

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