Cutting fuel subsidies risks unrest in Ecuador

2018 ◽  
Keyword(s):  
Foreign Debt ◽  
Productive Capacity ◽  
Content Type ◽  
The Public ◽  
Production Sharing ◽  
Indigenous Groups ◽  
Fuel Subsidies ◽  
Oil Derivatives ◽  
Oil Sector ◽  
The Government

Subject Fuel subsidy threats. Significance In its efforts to reduce the budget deficit without slashing public spending, the government is seeking to maximise oil sector revenues. While higher oil prices support this initiative, future contracts signed by the previous administration have limited their impact on the public purse. OPEC membership adds further complications, pressuring Ecuador to reduce oil output to comply with global production restrictions. That has forced the government to consider reducing or eliminating subsidies on oil derivatives that are crucial in reducing Ecuadorans' living costs. Impacts Efforts to increase productive capacity will reassure investors of the government’s ability to meet its growing foreign debt obligations. Production-sharing contracts are likely to attract the interest of overseas firms and stimulate investment in the oil sector. Oil sector expansion will undermine Moreno’s environmental credentials, triggering tensions with environmental and indigenous groups.

Economic reforms to challenge Ecuador’s Moreno in 2020

2020 ◽  
Keyword(s):  
Economic Reforms ◽  
Social Disorder ◽  
External Funding ◽  
Content Type ◽  
Reform Agenda ◽  
The Public ◽  
Challenging Tasks ◽  
Fuel Subsidies ◽  
The Government ◽  
Alternative Sources

Subject Ecuador's economic difficulties. Significance A government attempt to remove fuel subsidies triggered a wave of protests in October, which left several protesters dead and thousands injured. The unrest illustrates the difficulty President Lenin Moreno faces in implementing economic reforms and austerity policies linked to his government’s agreements with the IMF. The scale of the mobilisations forced the government to overturn its decision to remove the fuel subsidies and enter into negotiations with organisations and movements involved in the protests. While the government has since made some progress with its reform agenda, more challenging tasks lie ahead. Impacts Preventing social disorder will be essential for Moreno as he attempts to restore his credibility ahead of next year’s elections. Further disorder will bolster Rafael Correa’s popularity, as he seeks spaces in which to participate in the elections. Moreno will continue to seek alternative sources of external funding to cover holes in the public finances.

Risks are high despite Turkey’s policy 'normalisation'

2020 ◽  
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Risk Premium ◽  
Financial Stability ◽  
Foreign Debt ◽  
Content Type ◽  
The Public ◽  
High Inflation ◽  
The Government

Significance With the lira at a record low, the Central Bank continued to tighten monetary policy this week, funding the market through competitive one-month repo tenders at rates of around 12.5%. In recent weeks, the government and Central Bank have taken a series of steps to modify the expansionary and in some cases unorthodox policies adopted during the COVID-19 pandemic. Impacts Foreign portfolio investors could shun the Turkish market for some more months, and the risk premium will remain high. Although this year’s annual contraction in GDP, at 3-4%, may be less severe than expected, the recovery may decelerate or be interrupted. The lira may fall further with concerns about foreign debt, forex reserves, budgets, inflation and financial stability persisting into 2021. Given the weak lira, the jobs crisis and high inflation, the government will struggle to persuade the public it has managed the crisis well.

Environmental lawsuit will test Guyana's oil sector

2021 ◽  
Keyword(s):  
Spillover Effect ◽  
Economic Importance ◽  
Environmental Legislation ◽  
Economic Implications ◽  
Content Type ◽  
Oil Companies ◽  
Production Sharing ◽  
Oil Sector ◽  
The Government ◽  
Increased Pressure

Significance If successful, the lawsuit could force the government to cancel or suspend its oil production-sharing agreements (PSAs) with major international oil companies such as ExxonMobil. Given the growing economic importance of the oil sector, the outcome of the lawsuit will have major economic implications for Guyana. Impacts Some potential investors may be wary of committing to Guyana while the lawsuit remains unresolved. Other activists may be emboldened to launch further challenges on environmental grounds. Neighbouring Suriname may experience a spillover effect, with increased pressure to upgrade its environmental legislation.

A benchmarking study of Indian seaports

2019 ◽  
Vol 13 (1) ◽  
pp. 88-102
Author(s):  
Sajeev Abraham George ◽  
Anurag C. Tumma
Keyword(s):  
Financial Performance ◽  
Future Research ◽  
Data Envelopment ◽  
Operational Parameters ◽  
Two Stage ◽  
Content Type ◽  
The Public ◽  
Port Authorities ◽  
Financial Performance Measures ◽  
The Government

Purpose The purpose of this paper is to benchmark the operational and financial performances of the major Indian seaports to help derive useful insights to improve their performance. Design/methodology/approach A two-stage data envelopment analysis (DEA) methodology has been used with the help of data collected on the 13 major seaports of India. The first stage of the DEA captured the operational efficiencies, while the second stage the financial performance. Findings A window analysis over a period of three years revealed that no port was able to score an overall average efficiency of 100 per cent. The study identified the better performing units among their peers in both the stages. The contrasting results of the study with the traditional operational and financial performance measures used by the ports helped to derive useful insights. Research limitations/implications The data used in the study were majorly limited to the available sources in the public domain. Also, the study was limited to the major seaports which are under the Government of India and no comparisons were carried out with other local or international ports. Practical implications There is a need to prioritize investments and improvement efforts where they are most needed, instead of following a generalized approach. Once the benchmark ports are identified, the port authorities and other relevant stakeholders should work in detail on the factors causing inefficiencies, for possible improvements in performance. Originality/value This paper carried out a two-stage DEA that helped to derive useful insights on operational efficiency and financial performance of the India seaports. A combination of the financial and operational parameters, along with a comparison of the DEA results with the traditional measures, provided a different perspective on the Indian seaport performance. Considering the scarcity of research papers reported in the literature on DEA-based benchmarking studies of seaports in the Indian context, it has the potential to attract future research in this field.

The 2016 Police and Crime Commissioner elections

2017 ◽  
Vol 16 (2) ◽  
pp. 41-54 ◽  
Author(s):  
Peter Joyce
Keyword(s):  
Public Awareness ◽  
Primary Source ◽  
Source Material ◽  
Content Type ◽  
The Public ◽  
The Social ◽  
Key Issues ◽  
The Subject ◽  
The Government

Purpose The purpose of this paper is to analyse the 2016 elections for Police and Crime Commissioners (PCCs) and to compare them with those that took place in 2012. It seeks to evaluate the background of the candidates who stood for office in 2016, the policies that they put forward, the results of the contests and the implications of the 2016 experience for future PCC elections. Design/methodology/approach This paper is based around several key themes – the profile of candidates who stood for election, preparations conducted prior to the contests taking place, the election campaign and issues raised during the contests, the results and the profile of elected candidates. The paper is based upon documentary research, making particular use of primary source material. Findings The research establishes that affiliation to a political party became the main route for successful candidates in 2016 and that local issues related to low-level criminality will dominate the future policing agenda. It establishes that although turnout was higher than in 2012, it remains low and that further consideration needs to be devoted to initiatives to address this for future PCC election contests. Research limitations/implications The research focusses on the 2016 elections and identifies a number of key issues that emerged during the campaign affecting the conduct of the contests which have a bearing on future PCC elections. It treats these elections as a bespoke topic and does not seek to place them within the broader context of the development of the office of PCC. Practical implications The research suggests that in order to boost voter participation in future PCC election contests, PCCs need to consider further means to advertise the importance of the role they perform and that the government should play a larger financial role in funding publicity for these elections and consider changing the method of election. Social implications The rationale for introducing PCCs was to empower the public in each police force area. However, issues that include the enhanced importance of political affiliation as a criteria for election in 2016 and the social unrepresentative nature of those who stood for election and those who secured election to this office in these contests coupled with shortcomings related to public awareness of both the role of PCCs and the timing of election contests threaten to undermine this objective. Originality/value The extensive use of primary source material ensures that the subject matter is original and its interpretation is informed by an academic perspective.

Public service motivation and organizational performance in Chinese provincial governments

2016 ◽  
Vol 10 (4) ◽  
pp. 770-786 ◽  
Author(s):  
Chunkui Zhu ◽  
Chen Wu
Keyword(s):  
Organizational Performance ◽  
Public Service ◽  
Public Service Motivation ◽  
Provincial Government ◽  
Civil Servants ◽  
Hunan Province ◽  
Government Employees ◽  
Content Type ◽  
The Public ◽  
The Government

Purpose This paper aims to examine different hypotheses concerning the effects of public service motivation (PSM) and other attitudinal or institutional dimensions on organizational performance (OP). Specifically, based on the experience of Chinese provincial governments, this study provides new evidence about how PSM may affect OP. Design/methodology/approach This study collected data from a survey of different provincial government departments in Sichuan Province, Hubei Province, Hunan Province and Chongqing Municipality in 2011. Using data from 761 respondents, Pearson correlation analysis and regression analysis were used to explore the relationships between related factors. Findings PSM, job satisfaction, affective commitment and job involvement have statistically significant effects on OP, and these results are consistent with the findings of previous researches that PSM positively affected OP at a significant level. The results suggest that, if civil servants have a strong PSM, the performance of their organizations will be high. Research limitations/implications Future research should look for additional factors that affect OP, comparing employees’ perceptions of an organization’s performance with objective data to determine whether, and to what degree, subjective measures of performance are valid measures of OP in the public sector. Practical implications In the process of improving government performance, it is significant to give attention to the government employees’ mentality. The government training and promotion system should encourage civil servants to care about the public interest. A more flattened organization should be considered as part of the next steps in government reform, and more opportunities should be provided to involve more government employees in policy making. Originality/value This study helps to clarify the effects of individual factors of PSM on OP in China in a tightly controlled bureaucratic environment, where related data are hardly accessible.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

scholarly journals Esham, the Origin of Sukuk for Facing the Crisis: Historical Experience

2021 ◽  
Vol 10 (1) ◽  
pp. 45
Author(s):  
Khairunnisa Musari
Keyword(s):  
Lower Cost ◽  
Low Cost ◽  
Foreign Debt ◽  
Historical Experience ◽  
The Public ◽  
Goods And Services ◽  
The Past ◽  
State Budgets ◽  
The Difference ◽  
The Government

Pandemic brings a crisis. This makes world leaders have to work hard and smartly in managing state budgets. During the heyday of Islam, Muslims also faced crises. Given that time the power of Islam mastered many areas of the world, it can be assumed that the crisis that occurred in the past was a global crisis as it is happening today. The difference is the crisis that occurred at the time because of losing the war. This paper tries to describe the historical experience of the esham, one of the fiscal instruments in the Islamic world that helped the Ottoman Empire overcome the crisis. Esham has mobilized low-cost funds from the public in a relatively concise time. Esham served as a better choice than looking for foreign debt. As the origin of sukuk, esham has simpler structure so that can be used as an alternative to sukuk with a lower cost. To deal with a crisis, esham may intervene in the economy. Esham funds to the real sector in turn will help the government drive the economy as well as control prices in the market for goods and services. Therefore, esham has the potential in facing the crisis.

scholarly journals PUBLIC DEBT AS A SOURCE OF FINANCING FOR GOVERNMENT EXPENDITURES IN THE PERSPECTIVE OF ISLAMIC SCHOLARS

2019 ◽  
Vol 7 (4) ◽  
pp. 285-290
Author(s):  
Imron Mawardi ◽  
Tika Widiastuti ◽  
Debrina Farrah Anova ◽  
Muhammad Ubaidillah Al Mustofa ◽  
Dewie Saktia Ardiantono ◽  
...  
Keyword(s):  
Public Debt ◽  
Foreign Debt ◽  
General Knowledge ◽  
The Public ◽  
Islamic Perspective ◽  
External Sources ◽  
Internal Sources ◽  
The Government ◽  
State Projects ◽  
Conceptual Research

Purpose of the study: This study aims to examine foreign debt as a source of financing for economic development. This research is expected to provide (1) an overview of debt as a source of funding for state projects, (2) investigate its impacts and (3) offer additional knowledge of its Islamic perspective. Methodology: This research is a qualitative study using the study literature approach. This research is conducted by analysing books, literature, journals, and magazines with themes related to the focus of the discussion on this study. It is expected that the method used can provide insight, general knowledge, and develop the view of Islam in relation to foreign debt. Main Findings: The government has to ensure that the state has the ability to pay off its obligations in the future; guarantee that loans have to be free from interest; prioritize taking loans from internal sources rather than external sources. In Addition, debts are not intended for deferred needs and not taking loans that exceed their needs. Applications of this study: basically the results of this study can be applied to any country that considers the use of public debt, like other Islamic systems. Novelty/Originality of this study: This research is conceptual research in an Islamic perspective. This study successfully examined comprehensively related to the public debt with the Islamic approach.

Fraud prevention initiatives in the Nigerian public sector

2018 ◽  
Vol 25 (2) ◽  
pp. 527-544 ◽  
Author(s):  
Rabiu Abdullahi ◽  
Noorhayati Mansor
Keyword(s):  
Public Sector ◽  
Structural Equation ◽  
Equation Modeling ◽  
Control Mechanisms ◽  
Fraud Triangle ◽  
Fraud Prevention ◽  
Content Type ◽  
The Public ◽  
The Government ◽  
Triangle Theory

Purpose Detecting and preventing fraud are challenging and risky tasks, especially in a fast developing economy such as Nigeria. The efforts become crucial in the government sectors, as they involve public’s trust and resources. The purpose of this study is to examine the relationships between the fraud incidence and the elements of fraud triangle theory (FTT) with the aim of combating current fraud outrages in the Nigerian public sector. Design/methodology/approach A survey was conducted and 302 questionnaires were distributed to the staff of the departments of accounting, internal auditing and investigation of ten selected ministries, departments and agencies of Kano State, Nigeria. Structural equation modeling (SEM) was used to analyze the data. Findings The study reveals a significant relationship between three elements of FTT and fraud incidences in the Nigerian public sectors (p-value < 0.001 for pressure and opportunity and p-value = 0.024 for rationalization). Practical implications The findings of the study are useful for forensic accountants and the Nigerian anti-graft bodies to enhance existing control mechanisms in fraud prevention initiatives. The research also contributes to bridge the gap in academic theory and empirical study related to FTT. Social implications Fraud scandals can cause public’s frustration, damage the reputation and integrity of the ruling government and result in negative image of the public sector. Originality/value Accordingly, the study suggests a salary scale reform (SSR) in the Nigerian public sector and improvement in fringe benefits to increase employees’ standard of living. The study concludes with recommendations to enhance fraud awareness and training programs to the government employees.

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