Prospects for Argentina in 2021

2020 ◽  
Keyword(s):  
Economic Policy ◽  
Content Type ◽  
Double Digit ◽  
The Imf

Significance Doubts over the extent of recovery from a double-digit contraction this year are complicating efforts to renegotiate debt with the IMF and present a plausible economic policy package for 2021.

Disaffection leaves 2019 Argentine elections in doubt

2018 ◽  
Keyword(s):  
Economic Policy ◽  
Buenos Aires ◽  
Content Type ◽  
Domestic Support ◽  
The Imf

Significance Lagarde’s visit to Buenos Aires to attend the G20 finance ministers meeting, and assurances of IMF support for the government’s economic policy plans, provided photo opportunities that could play well with investors but will do nothing to reverse the fall in Macri’s domestic support. Protests outside the G20 meeting highlighted popular rejection of the country's new stand-by agreement and the return of the IMF. Impacts Macri’s unpopularity could potentially bring about the hitherto improbable return to office of his predecessor. Economic woes could force measures that would alienate Macri’s base as well as the broader electorate. The traditional Peronist party may struggle to construct a viable ‘centrist’ candidacy, though it could pick up a range of dissenting votes.

Media reporting on public procurement: an analysis of UK press coverage, 1985–2018

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anthony Flynn ◽  
Irina Harris
Keyword(s):  
Economic Policy ◽  
Media Coverage ◽  
Public Procurement ◽  
News Coverage ◽  
Professional Services ◽  
Press Coverage ◽  
Government Officials ◽  
Content Type ◽  
The Media ◽  
International Comparative

Purpose The media is an important actor in public procurement, but research on its role is limited. This paper aims to investigate how the media has engaged with public procurement, using UK newspapers as a case example. Design/methodology/approach The method consisted of searching Nexis database for news articles on public procurement; automatic extraction of article attributes such as length, section, authorship; and manually coding each article for its theme and industry context. This produced quantitative indicators about the extent and focus of press coverage on public procurement. Findings Press coverage of public procurement increased between 1985 and 2018. The focus of coverage has been on governance failure and socio-economic policy. Governance failure, which includes corruption, cronyism and supplier malpractice, is associated with construction, outsourcing and professional services sectors. Socio-economic policy, which includes supporting small suppliers and favouring domestic industry, is associated with manufacturing, defence and agriculture. Research limitations/implications The analysis included UK media only. While the trends observed on the extent and focus of public procurement news coverage likely reflect the situation in other countries, international comparative research is still required. Practical implications Government officials should be more proactive in countering the “negativity bias” in news coverage of public procurement by showcasing projects where value-for-money has been achieved, services have been successfully delivered and social value has been realised. Social implications The media accentuates the negatives of public procurement and omits positive developments. The end-result is a selective and, at times, self-serving media narrative that is likely to engender cynicism towards public procurement. Originality/value To the best of the authors’ knowledge, this is the first study on media coverage of public procurement. It highlights that while there are similarities between media and academic treatment of public procurement, particularly in relation to its socio-economic side, the media emphasises governance failings and negative developments to a greater extent.

Iran’s hopes of swift economic recovery will be dashed

2021 ◽  
Keyword(s):  
Economic Policy ◽  
Vaccination Campaign ◽  
Economic Recovery ◽  
Fiscal Year ◽  
Islamic Revolution ◽  
Content Type ◽  
The Us ◽  
Supreme Leader

Significance His government is in an impasse with the conservative parliament over the draft budget for the new fiscal year beginning on March 21. Rouhani needs the US sanctions to be lifted fast and a COVID-19 vaccination campaign to allow for an exit from the pandemic in order to meet his economic promises. Impacts The supreme leader will become even more closely involved in shaping economic policy, with the autarkic ‘resistance’ narrative dominant. Khamenei may seek a new ‘jihadi manager’ president, linked to the Islamic Revolution Guard Corps (IRGC), who follows his economic vision. Progress with vaccinations, which began on February 8, will likely be slow, as supplies have become highly politicised.

Problems and perspectives of state regulation of system of education in the context of provision of Russia’s national security

2019 ◽  
Vol 33 (3) ◽  
pp. 462-469 ◽  
Author(s):  
Konstantin V. Vodenko
Keyword(s):  
Higher Education ◽  
Economic Policy ◽  
National Security ◽  
Educational System ◽  
State Regulation ◽  
Modern State ◽  
Content Type ◽  
The Reformation ◽  
Central Trend

Purpose The purpose of this paper is to analyze the current problems and the main perspectives of the development of state regulation of the Russian system of higher education in the context of the provision of Russia’s national security. Design/methodology/approach The research of formation of the system of national security in Russia and the problems of the development of education is based on the methods of Russian and foreign Institutionalists (D. North, S.G. Kirdina, R.M. Nureev, Y.V. Latov, etc.). The research is also based on the theory of inequality in the system of education (D.L. Konstantinovsky), the idea of cultural aspects of social inequality (Pierre Bourdieu) and the theory that connects the problem of the development of the educational system with the system of national security and social inequalities (A.V. Vereshchagina, S.I. Samygina, etc.). Findings The modern state and perspectives of state regulation of higher education in the modern Russian conditions are analyzed in this paper. A complex analysis of risks of the modern state of Russia’s educational system is performed, and educational inequality as a risk to national security is studied in this paper. Perspectives of state regulation of higher education in view of the national model of socio-economic activities and principles of national security are viewed in this paper. The main directions of improving the educational system in the context of the provision of national security of the state are given in this paper. Research limitations/implications The results of the research could be used for correcting the main directions of Russia’s socio-economic policy in the long term. The central trend of this policy is the reformation of the development of the sphere of education as a factor of the formation of the system of Russia’s national security. Practical implications The results of the research could be used for correcting the main directions of Russia’s socio-economic policy in the long term. The central trend of this policy is the reformation of the development of the sphere of education as a factor of formation of the system of Russia’s national security. Social implications The ideas of the research could stimulate the reconsideration and harmonization of perspectives of the development of social policy of the state, which includes the interaction of the development of higher education and system of national security. Originality/value Originality of this paper consists in setting the problem of the implementation of social senses of the development of state policy in the sphere of higher education into the discourse of theoretical and practical consideration of the problems of national security.

The UK drugs strategy 2017: contexts and analysis

2017 ◽  
Vol 17 (4) ◽  
pp. 205-217
Author(s):  
Blaine Stothard
Keyword(s):  
Economic Policy ◽  
Drug Use ◽  
Design Methodology ◽  
Drug Misuse ◽  
Close Reading ◽  
Evidence Based ◽  
Specific Content ◽  
Content Type ◽  
The Uk ◽  
The Impact

Purpose The purpose of this paper is to examine the content of the strategy and assess its claims to be evidence based. Design/methodology/approach This study is a close-reading of the text with commentary on specific content and reference to wider contexts. Findings The strategy makes use of evidence in its sections on treatment. Much evidence, including that of the UK ACMD, is dismissed or ignored. The issue of funding in times of austerity is not considered in the strategy. The range and complexity of drug use and users are not fully considered. Research limitations/implications The strategy can be seen as an idealised ambition with little basis in reality without funding to support its aims. Social implications There is no consideration of the impact of macro-economic policy on the extent of drug misuse. Originality/value Other commentaries on the strategy are emerging. This paper is a more extensive consideration than has so far appeared.

The IMF, its mandate and influence in prevention of financial sector abuse

2016 ◽  
Vol 23 (4) ◽  
pp. 987-1011
Author(s):  
Norman Mugarura
Keyword(s):  
World Bank ◽  
Secondary Data ◽  
Financial Sector ◽  
Data Sources ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Secondary Data Sources ◽  
Work Done ◽  
The Imf

Purpose The purpose of this paper is to articulate the mandate of the International Monetary Fund (IMF) not least in promoting a sound legal regulatory environment for markets to operate globally and its inherent challenges. While acknowledging the plausible work done by the IMF in supporting countries to achieve their macro-economic stability, the paper articulates some of its shortcomings as a global institution. It is evident that the post-war climate in which the World Bank and IMF were created has drastically changed – which presupposes that these institutions now need to reposition themselves to reflect on contemporary global challenges accordingly. The author has argued in the past that a robust regulatory system should be devised taking into account the dynamic challenges in the market environment but also to prevent them from happening again. Design/methodology/approach The paper has utilized empirical evidence to evaluate the mandate of the IMF in addressing its dynamic challenges such as the global financial and debt crises in Europe and the USA and prevention of financial sector abuse globally. The IMF is one of the Bretton Woods Institutions charged with the oversight responsibility to enforce policies and enable countries to manage their macro-economic challenges efficiently. Findings The findings demonstrate that the IMF is as relevant and important as it was when it was created in 1945. However, there is a need for intrinsic and structural changes within this institution to continue discharging its mandate in a changed global regulatory landscape. The IMF is still crucial in fostering a fundamental stabilization function to fragile global economies in areas of financial and technical assistance, and developing requisite legal and supervisory infrastructure within fledging member countries. Research limitations/implications The paper was written by analysis of both theoretical and empirical data largely based on secondary data sources. It would have been better to first present the findings in an international conference to solicit wide views and internalize them accordingly. Practical implications While acknowledging the plausible work done by the IMF and its counterpart the World Bank in facilitating global financial markets regulation and prevention of financial sector abuse, as oversight institutions, they need to constantly review their mandate to respond robustly to their dynamic challenges such as the global and debt crises and financial sector abuse. Oversight institutions need to constantly review and adapt their mandate accordingly, if they are to discharge their varied responsibilities efficiently. They cannot stand still in the face of challenges because they will be superseded and kept at a back foot. Social implications Markets and states are embedded in each other, and the way they are regulated is of a significant importance to varied stakeholders and people. Originality/value This paper is one of its kind, is unique in its character and evaluates embedded issues using empirical evidence in a way not done in its context before. Secondary data sources have been evaluated to achieve a thoughtful analysis of the objectives of the paper.

Geopolitical risk, economic growth, economic uncertainty and international inbound tourism: an Indian Illustration

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sudeshna Ghosh
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Trade Openness ◽  
Policy Uncertainty ◽  
Tourism Demand ◽  
Content Type ◽  
Economic Policy Uncertainty ◽  
Long Run ◽  
Geopolitical Risks

Purpose This paper aims to consider the role of geopolitical risk in explaining tourism demand in India, a major tourist destination of the Asian region. Furthermore, the study also considers how in addition to geopolitical risk, economic policy uncertainty, economic growth, exchange rate, inflation and trade openness impact tourism demand. Design/methodology/approach The Bayer and Hanck (2013) method of cointegration is applied to explore the relationship between geopolitical risk and tourism demand. Furthermore, the study has also used the auto distributed lag model to determine whether there is a long-run cointegrating association between tourism demand, geopolitical risk, economic policy uncertainty, economic growth, exchange rate and trade openness. Finally, the vector error correction model confirms the direction of causality across the set of the major variables. Findings This paper finds that geopolitical risk adversely impacts inbound international travel to India. This study also obtains the consistency of the results across different estimation techniques controlling for important macro variables. The Granger causality test confirms the unidirectional causality from geopolitical risk to tourism and further from economic uncertainty to tourism. The findings from the study confirm that geopolitical risks have long-term repercussions on the tourism sector in India. The results indicate that there is an urgent need to develop a pre-crisis management plan to protect the aura of Indian tourism. The tourism business houses should develop skilful marketing strategies in the post-crisis to boost the confidence of the tourists. Research limitations/implications This paper provides valuable practical implications to tourism business houses. The tourism business houses can explore geopolitical risk measure and economic policy uncertainty measure to analyse the demand for international tourism in India. Further, the major stakeholders can establish platforms to help tourists to overcome the fear associated with geopolitical risk. Originality/value This study is the first of its kind to explore the geopolitical risks and their long-run consequences in the context of tourism in India. The study puts emphasis on the role of national policy to maintain peace otherwise it would be detrimental to tourism.

Peru's recovery will be slow after double-digit drop

2021 ◽  
Keyword(s):  
Content Type ◽  
Double Digit

Headline PERU: Recovery will be slow after double-digit drop

Economic policy uncertainty and stock prices in BRIC countries: evidence from asymmetric frequency domain causality approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mucahit Aydin ◽  
Ugur Korkut Pata ◽  
Veysel Inal
Keyword(s):  
Economic Policy ◽  
Frequency Domain ◽  
Stock Prices ◽  
Policy Uncertainty ◽  
Causality Test ◽  
Content Type ◽  
Economic Policy Uncertainty ◽  
Bric Countries ◽  
Causality Tests ◽  
Asymmetric Causality

Purpose The aim of this study is to investigate the relationship between economic policy uncertainty (EPU) and stock prices during the period from March 2003 to March 2021. Design/methodology/approach The study uses asymmetric and symmetric frequency domain causality tests and focuses on BRIC countries, namely, Brazil, Russia, India and China. Findings The findings of the symmetric causality test confirm unidirectional permanent causality from EPU to stock prices for Brazil and India and bidirectional causality for China. However, according to the asymmetric causality test, the findings for China show that there is no causality between the variables. The results for Brazil and India indicate that there is unidirectional permanent causality from positive components of EPU to positive components of stock prices. Moreover, for Brazil, there is unidirectional temporary causality from the negative components of EPU to the negative components of stock prices. For India, there is temporary causality in the opposite direction. Originality/value The reactions of financial markets to positive and negative shocks differ. In this context, to the best of the authors’ knowledge, this study is the first attempt to examine the causal relationships between stock prices and uncertainty using an asymmetric frequency domain approach. Thus, the study enables the analysis of the effects of positive and negative shocks in the stock market separately.

Capitalism after Satoshi

2019 ◽  
Vol 9 (2) ◽  
pp. 152-164 ◽  
Author(s):  
Chris Berg ◽  
Sinclair Davidson ◽  
Jason Potts
Keyword(s):  
Twentieth Century ◽  
Economic Policy ◽  
Structural Changes ◽  
Economic Structure ◽  
Regulatory State ◽  
Wide Spread ◽  
Role Of Government ◽  
Content Type ◽  
Blockchain Technology ◽  
Long Run

Purpose The purpose of this paper is to explore the long-run economic structure and economic policy consequences of wide-spread blockchain adoption. Design/methodology/approach The approach uses institutional, organisational and evolutionary economic theory to predict consequences of blockchain innovation for economic structure (dehierarchicalisation) and then to further predict the effect of that structural change on the demand for economic policy. Findings The paper makes two key predictions. First, that blockchain adoption will cause both market disintermediation and organisational dehierarchicalisation. And second, that these structural changes will unwind some of the rationale for economic policy developed through the twentieth century that sought to control the effects of market power and organisational hierarchy. Research limitations/implications The core implication that the theoretical prediction made in this paper is that wide-spread blockchain technology adoption could reduce the need for counter-veiling economic policy, and therefore limiting the role of government. Originality/value The paper takes a standard prediction made about blockchain adoption, namely disintermediation (or growth of markets), and extends it to point out that the same effect will occur to organisations. It then notes that much of the rationale for economic policy, and especially industry and regulatory policy through the twentieth century was justified in order to control economic power created by hierarchical organisations. The surprising implication, then, is that blockchain adoption weakens the rationale for such economic policy. This reveals the long-run relationship between digital technological innovation and the regulatory state.

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