Counternarratives of Catastrophe

2021 ◽  
pp. 55-64
Author(s):  
Kristen Ghodsee ◽  
Mitchell A. Orenstein
Keyword(s):  
Financial Crisis ◽  
Economic Liberalization ◽  
Political Movements ◽  
Economic Policies ◽  
East Europe ◽  
Neoliberal Reforms ◽  
Disaster Capitalism ◽  
Economic Anxiety ◽  
Populist Movements

Chapter 4 investigates how analysts, policymakers, and political movements began to articulate a counternarrative of disaster capitalism as a frame for understanding transition. The disaster capitalism narrative suggests that Western institutions sought to exploit postsocialist recessions to impose harsh reforms for self-interested motives. Following the financial crisis of 2008, populist movements, which often advocated heterodox economic policies, emerged across the postsocialist world. The chapter shows the links between economic anxiety brought on by the failures of transition and the rhetoric and ideology of growing populist movements. It also points to China’s policy of long-term economic liberalization as a success when compared to the economic devastation that neoliberal reforms wrought on the postsocialist countries of East Europe and Central Asia.

Research on the Economic Vitality of the Northeast China

2020 ◽  
Vol 3 (3) ◽  
Author(s):  
Jiayue Jiao
Keyword(s):  
Northeast China ◽  
Practical Significance ◽  
Economic Policies ◽  
Regional Competitiveness ◽  
Regional Economic ◽  
Important Indicator ◽  
Depth Study ◽  
Long Term Impact ◽  
Economic Vitality

 Economic vitality is an important indicator of regional competitiveness. The demand for talents and the vitality of enterprises in different regions are obvious to all and have practical significance. Therefore, it is necessary to establish a survey data model and conduct in-depth study on improving regional economic vitality from the perspective of policy.Based on a variety of forecasting methods, this paper analyzes the short-term and long-term impact of economic policies in Northeast China, and finally puts forward the factors that affect the economic vitality of northeast policies. Finally, the paper puts forward the feasibility and targeted suggestions of strengthening regional economic vitality, obtaining long-term development and building a more competitive city in the new era. 

The Long-Term Cost of the Financial Crisis

2009 ◽  
Author(s):  
Murillo Campello ◽  
John R. Graham ◽  
Campbell R. Harvey
Keyword(s):  
Financial Crisis

Reshaping the Economic Structure in Argentina: The Role of External Debt during the Macri Administration (2015–2019)

2021 ◽  
pp. 048661342097642
Author(s):  
Juan E. Santarcángelo ◽  
Juan Manuel Padín
Keyword(s):  
External Debt ◽  
Economic Structure ◽  
The United States ◽  
Jel Classification ◽  
Financial Capital ◽  
Economic Policies ◽  
Right Wing ◽  
Long Term Effects

Argentina’s right-wing shift in the 2015 presidential election concluded twelve years of center-left rule. The elected president, Mauricio Macri, claimed that the economy would experience normalization of existing imbalances and recover its strength in a “new political era.” However, the new administration quickly restored the dominance of neoliberal economic policies through a comprehensive set of initiatives, which centrally included the return to international financial debt and equity markets and submission to the International Monetary Fund’s (IMF) rules. This article analyzes Argentina’s external-debt-growth process and discusses its objectives and long-term effects. This paper posits that the indebtedness process carried out by the Macri administration—and its modality—not only increased the relevance of financial capital in the Argentine economy but also structurally conditioned any future nonorthodox alternative path of development. This outcome cannot be understood without taking into account the deliberate role of the United States, the IMF, and the top companies that operate in Argentina, as well as the complicity of many political sectors. JEL Classification: H63, F34, F63

A multifractal detrended fluctuation analysis of housing market: a role of financial crises in developed economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Syed Ali Raza ◽  
Nida Shah ◽  
Muhammad Tahir Suleman ◽  
Md Al Mamun
Keyword(s):  
Financial Crisis ◽  
Housing Market ◽  
Market Efficiency ◽  
House Price ◽  
Fluctuation Analysis ◽  
Content Type ◽  
Multifractal Detrended Fluctuation Analysis ◽  
Long Run ◽  
Before And After

Purpose This study aims to examine the house price fluctuations in G7 countries by using the multifractal detrended fluctuation analysis (MF-DFA) for the years 1970–2019. The study examined the market efficiency between the short-term and long-term in the full sample period, before and after the global financial crisis period. Design/methodology/approach This study uses the MF-DFA to analyze house price fluctuations. Findings The findings confirmed that the housing market series are multifractal. Furthermore, all the markets showed long-term persistence in both the short and long-term. The USA is identified as the most persistent house market in the short run and Japan in the long run. Moreover, in terms of efficiency, Canada is identified as the most efficient house market in the long run and the UK in the short run. Finally, the result of before and after the financial crisis period is consistent with the full sample result. Originality/value The contribution of this study in the literature is fourfold. This is the first study that has examined the house prices efficiency by using the MF-DFA technique given by Kantelhardt et al. (2002). Previously, the house market prices and efficiency has been investigated using generalized Hurst exponent (Liu et al., 2019), Quantile Regression Approach (Chae and Bera, 2019; Tiwari et al., 2019) but no study to the best of the knowledge has been done that has used the MF-DFA technique on the housing market. Second, this is the first study that has focused on the house markets of G7 countries. Third, this study explores the house market efficiency by dividing the market into two periods i.e. before and after the financial crisis. The study strives to investigate if the financial crisis determines the change in the degree of market efficiency or not. Finally, the study gives valuable insights to the investors that will help them in their investment decisions.

تدفقات الاستثمار الأجنبي المباشر وأثره على البطالة في العراق للمدة (2004-2017) دراسة تحليلية باستخدام التكامل المشترك المتزامن

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
خالد عواد ◽  
مهند عبد ◽  
بلال اسعد
Keyword(s):  
International Trade ◽  
Foreign Investment ◽  
Economic Liberalization ◽  
Unemployment Rates ◽  
Equilibrium Relationship ◽  
The Impact

This research aims to show the impact of foreign investment inflows into Iraq on changes in unemployment after 2004, in light of the emergence of ideas of globalization in various aspects and the convergence of distances between countries due to the development of knowledge and scientific means of communication and by the policies of economic liberalization and international trade. A long - term equilibrium relationship between foreign investment flows and unemployment, and that changes in unemployment rates explain the change in FDI flows.

scholarly journals The fate of labor after regime change: Lessons from post-communist Poland and post-apartheid South Africa for Tunisia’s Nobel-Prize winning unions

2018 ◽  
Vol 40 (1) ◽  
pp. 20-41 ◽  
Author(s):  
Ian M Hartshorn ◽  
Rudra Sil
Keyword(s):  
South Africa ◽  
Significant Role ◽  
Trade Union ◽  
Trade Unions ◽  
Regime Change ◽  
Economic Liberalization ◽  
Nobel Peace Prize ◽  
Unanticipated Consequences ◽  
The Arab Spring

Wherever labor has played a significant role in bringing about regime change, there may be opportunities to join in the post-authoritarian ruling coalition in the hopes of consolidating its influence. This article examines the long-term risks and unanticipated consequences of giving in to this temptation by comparing post-communist Poland and post-apartheid South Africa, where the leading trade union federations became weaker and more divided as their political allies pushed forward with economic liberalization. Tunisia’s trade unions, awarded the 2015 Nobel Peace Prize for their contribution to a stable transition after the ‘Arab Spring,’ face the risk of going down the same path should they continue to view themselves as partners of the new governing elite, which has already signaled its intention of pursuing further liberalization.

scholarly journals Relevance of Low Inflation in the Southeastern European Countries

2016 ◽  
Vol 5 (2) ◽  
pp. 41-63
Author(s):  
Slobodan Lakić ◽  
Damir Šehović ◽  
Mimo Drašković
Keyword(s):  
Exchange Rates ◽  
Psychological Factors ◽  
Negative Impact ◽  
Multinational Companies ◽  
East Europe ◽  
South East Europe ◽  
Inflation Rates ◽  
Exchange Regime ◽  
Flexible Exchange Rates

Abstract The paper starts from the assumption that the significant reduction of the inflation problem is a result of the long-term dynamics of economic growth in countries with developing markets and, as a result, operational inability of multinational companies to increase accumulation through the policy of raising prices by creating space for their full expansion. We believe that in such circumstances civil theories on the causes of inflation are dominantly of class character. We check negative repercussions of low inflation on the examples of the countries of South-East Europe, in the regimes with fixed and flexible exchange rates, and with different strategies of monetary policy. We conclude that destructive implications of the financial crisis and psychological factors have a negative impact on a sustainable low-inflation environment, regardless of the monetary-exchange regime. We propose that low and stable inflation rates can be followed by a series of negative implications for the overall economic system, which our analysis of the observed countries proves.

scholarly journals ADJUSTMENT SPEED OF DEBT MATURITY: EVIDENCE FROM FINANCIAL CRISES IN EAST ASIA

2021 ◽  
Vol 24 (1) ◽  
pp. 71-92
Author(s):  
Hasan Tekin ◽  
Ali Yavuz Polat
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
East Asian ◽  
Debt Maturity ◽  
Least Square ◽  
Exogenous Shocks ◽  
Adjustment Speed ◽  
The Global Financial Crisis ◽  
Debt Holders

We investigate the change in adjustment speed of debt maturity for East Asian firms between 1990 and 2017 by including two exogenous shocks: the Asian Financial Crisis 1997-1998 (AFC) and the Global Financial Crisis 2007-2009 (GFC). We employ the least square dummy variable correction and find that East Asian firms have a slower adjustment of long-term debt over time. Besides, the decrease in adjustment speed of long-term debt after the GFC is more compared to the decrease after the AFC. Further analysis shows the optimal debt maturity differs across countries and industries. Another important implication of our results is that firms in high governance countries are more likely to close the gap between the actual and target debt maturity in time. Overall, debt holders and investors should consider financial uncertainties.

scholarly journals THE IMPORTANCE OF ECO-CLUSTERS IN THE CONSTANTA COUNTY

2021 ◽  
Vol 2021 (2) ◽  
pp. 65-70
Author(s):  
MIRELA IULIANA SUNDRI
Keyword(s):  
New Technologies ◽  
Disruptive Innovation ◽  
Economic Policies ◽  
Economic Activities ◽  
Strategic Positioning ◽  
Sustainable Solutions ◽  
Smart Specialization ◽  
Ecological Transition

Economic theory and international practice confirm the role of clusters as catalysts for competitiveness based on innovation and internationalization. Europe is facing the challenge of becoming a fair and prosperous society based on a modern, competitive and resource-efficient economy. Mobilizing industrial actors towards a clean and circular economy through in-depth cooperation along value chains as well as the use of new technologies, sustainable solutions and disruptive innovation are critical to achieving this goal. Clusters play an important role in operationalizing smart specialization strategies. Eco-clusters aim to increase the competitiveness of enterprises included in "cluster" structures in sectors of economic relevance, by concentrating resources and developing the production of innovative goods such as technologies, products, services, with the greatest possible reduction of waste. Constanta County, through its strategic positioning, through the concentration of economic activities, education and research is an area of maximum interest for the development of eco-innovation and eco-clusters. This study highlights the premises for the establishment of eco-clusters in the Constanta area, given their role as a driver in greening economic policies in the region and developing partnerships in order to obtain clean products. Through eco-clusters, there are also developments in the process of eco-innovation and implementation of sustainable development strategies in the Constanta area, as a means for a long-term socio-ecological transition.

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