No clear endgame for Kyrgyz war with gold miner

2021 ◽  
Keyword(s):  
Rule Of Law ◽  
Revenue Sharing ◽  
Gdp Growth ◽  
Foreign Investors ◽  
Content Type ◽  
The Government

Significance Although tensions around revenue-sharing from the mine have recurred over many years, the government's move to deprive Canada's Centerra Gold of control of KGC (which it owns) and the mine is unprecedented. The government denies it intends to nationalise Kumtor, but its actions have already damaged Kyrgyzstan's reputation as an investment destination. Impacts Rule of law as perceived by foreign investors may be the chief victim. The IMF's March forecast of 3.8% GDP growth is partly premised on higher gold output, which is now looking unlikely. The fiscal position is manageable but leaves no space for additional spending needs.

If Kosovo-Serbia deal fails, violence could recur

2018 ◽  
Keyword(s):  
Rule Of Law ◽  
Legal Protection ◽  
Foreign Investors ◽  
Content Type ◽  
The Government ◽  
Economic Outlook ◽  
Weak Rule

Significance Kosovo politicians are deliberating a deal with Serbia that would trade territory for recognition. Domestic opposition to a deal based on partition is high. Impacts Bosnia and Macedonia will note the emerging US position on Kosovo -- no inviolable borders, and multi-ethnicity no longer a goal in itself. Weak rule of law and lack of legal protection will deter foreign investors, fearing disputes with a politically connected counter-party. The prospect of former UCK parties leaving and neo-Marxist Vetevendosje joining the government leaves the economic outlook uncertain.

Polish government will seek to close pro-opposition TV

2021 ◽  
Keyword(s):  
Rule Of Law ◽  
European Economic Area ◽  
Foreign Investors ◽  
Content Type ◽  
European Economic ◽  
Economic Area ◽  
Lower Chamber ◽  
Law And Justice ◽  
The Government ◽  
Polish Government

Significance Law and Justice (PiS) has passed legislation through the Sejm, parliament’s lower chamber, which restricts the stakes companies outside the European Economic Area (EEA) may hold in Polish broadcasters. It is widely understood as aimed at private news channel TVN24, which is traditionally pro-Civic Platform (PO) and takes a stance largely critical of the current government. Impacts The bill’s passage will weaken further Poland’s rule of law and discourage foreign investors from operating there. The bill will sour Polish-US relations, but the government does not consider this to be crucial. If PiS manages to close the most important private media, its next step will be to attack news and analysis published by independent NGOs.

Vietnam hopes foreign investors can kick-start economy

2021 ◽  
Keyword(s):  
Migrant Workers ◽  
Ho Chi Minh City ◽  
Gdp Growth ◽  
Foreign Investors ◽  
Content Type ◽  
Transmission Rates ◽  
Key Factor ◽  
The Government ◽  
Tourism And Hospitality ◽  
Surrounding Areas

Significance The government targets 3.0-3.5% GDP growth this year, up from 2.9% in 2020 and despite a nearly 6.2% year-on-year contraction in July-September. A key factor in the fall was the imposition of a COVID-19 lockdown in Ho Chi Minh City, Vietnam’s economic hub, and surrounding areas. The restrictions were lifted at the start of October. Impacts Vietnam will be susceptible to further spikes in its COVID-19 transmission rates as migrant workers head for their hometowns and villages. Domestically developed vaccines could become available before the end of this year. With the country still closed to most visitors, tourism and hospitality will continue to struggle markedly through 2021.

Coalition party will decide Slovak government’s fate

2018 ◽  
Keyword(s):  
European Commission ◽  
Rule Of Law ◽  
Social Democracy ◽  
The State ◽  
Gdp Growth ◽  
Automotive Sector ◽  
Police Chief ◽  
Content Type ◽  
The Rule Of Law ◽  
The Government

Significance The president’s statement reflects a widespread crisis of trust in the government a week after investigative journalist Jan Kuciak was found shot dead with his fiancee Martina Kusnirova. It was the first known murder of a journalist in Slovakia. While the opposition has demanded the resignation of Interior Minister Robert Kalinak and his police chief Tibor Gaspar, the coalition government’s stability is most severely threatened by resignations within its leading party, Direction-Social Democracy (Smer-SD), and its moderate coalition partner, Most-Hid. Impacts Relations between the government and the non-party president will deteriorate following the latter’s call for early elections. The international spotlight has again been thrown on the state of the rule of law and corruption in Slovakia. Despite concerns, Slovakia continues to attract FDI, particularly into the automotive sector. Slovakia’s continued fast GDP growth (the European Commission forecasts 4% for 2018) may buttress support for the government.

Romania heads for clash with EU over legal sovereignty

2021 ◽  
Keyword(s):  
Rule Of Law ◽  
Judicial Independence ◽  
Constitutional Court ◽  
Content Type ◽  
The Past ◽  
Court Of Justice ◽  
Recent Developments ◽  
The Government ◽  
The Eu

Significance After accentuated rule-of-law erosion during 2017-19, the new government encouraged hopes that such violations would become a thing of the past. However, last month, the government sacked the ombudsman, while the Constitutional Court declared void a judgement of the EU Court of Justice (CJEU) defending judicial independence. Impacts Recent developments erode hopes that last month’s positive CVM report will lead to Romania’s Schengen zone accession later this year. Failure to replace the ombudsman will not affect the coalition parties electorally, given the politicisation of rule-of-law issues. Subnational courts will be left confused whether to apply the Constitutional Court or the CJEU ruling to legal disciplinary cases.

Impact of carbon permit allocation rules on incentive contracts for carbon emission reduction

Kybernetes ◽  
2018 ◽  
Vol 49 (4) ◽  
pp. 1143-1167 ◽  
Author(s):  
Qinqin Li ◽  
Yujie Xiao ◽  
Yuzhuo Qiu ◽  
Xiaoling Xu ◽  
Caichun Chai
Keyword(s):  
Carbon Emissions ◽  
Cost Sharing ◽  
Emission Reduction ◽  
Revenue Sharing ◽  
Content Type ◽  
Allocation Rules ◽  
Permit Allocation ◽  
Revenue Sharing Contract ◽  
The Government ◽  
The Cost

Purpose The purpose of this paper is to examine the impact of carbon permit allocation rules (grandfathering mechanism and benchmarking mechanism) on incentive contracts provided by the retailer to encourage the manufacturer to invest more in reducing carbon emissions. Design/methodology/approach The authors consider a two-echelon supply chain in which the retailer offers three contracts (wholesale price contract, cost-sharing contract and revenue-sharing contract) to the manufacturer. Based on the two carbon permit allocation rules, i.e. grandfathering mechanism and benchmarking mechanism, six scenarios are examined. The optimal price and carbon emission reduction decisions and members’ equilibrium profits under six scenarios are analyzed and compared. Findings The results suggest that the revenue-sharing contract can more effectively stimulate the manufacturer to reduce carbon emissions compared to the cost-sharing contract. The cost-sharing contract can help to achieve the highest environmental performance, whereas the implementation of revenue-sharing contract can attain the highest social welfare. The benchmarking mechanism is more effective for the government to prompt the manufacturer to produce low-carbon products than the grandfathering mechanism. Although a loose carbon policy can expand the total emissions, it can improve the social welfare. Practical implications These results can provide operational insights for the retailer in how to use incentive contract to encourage the manufacturer to curb carbon emissions and offer managerial insights for the government to make policy decisions on carbon permit allocation rules. Originality/value This paper contributes to the literature regarding to firm’s carbon emissions reduction decisions under cap-and-trade policy and highlights the importance of carbon permit allocation methods in curbing carbon emissions.

New government in Guyana will face challenges

2015 ◽  
Keyword(s):  
Government Spending ◽  
Social Progress ◽  
Consensus Building ◽  
Business Climate ◽  
Foreign Investors ◽  
Content Type ◽  
Political Tension ◽  
National Congress ◽  
The Government ◽  
Progressive Party

Significance The government has changed hands only once since independence in 1966: in 1992 the People's Progressive Party (PPP), led by Cheddi Jagan, assumed power following 26 years of People's National Congress (PNC) government. Since the last election in 2011 the government has been hamstrung by a parliament in which a coalition of opposition parties, including the PNC, held a one-seat majority. The result has been gridlock, with no new legislation approved, and continuous disputes over the budget, government spending and agreements with foreign investors. Impacts The election could allow a new government to work toward consensus-building. This might facilitate policies to develop Guyana's potential, and narrow the socioeconomic gap with the rest of the region. If the result is close, political tension and deadlock will persist, undermining the business climate, investment and social progress.

Myanmar regulation reform will spur investment

2015 ◽  
Keyword(s):  
Direct Investment ◽  
Economic Reforms ◽  
Business Environment ◽  
Regulatory Environment ◽  
Business Climate ◽  
Foreign Investors ◽  
Content Type ◽  
Effective Administration ◽  
Regulation Reform ◽  
The Government

Subject Myanmar's business environment. Significance The government is instituting measures to improve the business climate and attract foreign direct investment (FDI) into the economy. As part of this effort, on February 24, it instituted the Competition Act. However, while there has been an influx of new FDI, foreign investors remain wary -- largely because of the challenges of navigating Myanmar's old and complex regulatory environment. Impacts Economic reforms could slow in the event of an opposition electoral victory, as the new government gains experience. Improvements to the business environment could be constrained by a faltering or failed ethnic peace process. Regulatory reforms backed up by effective administration could contribute to equitable economic growth.

Insecurity and drought undermine Madagascar president

2016 ◽  
Keyword(s):  
Interest Rate ◽  
Prime Minister ◽  
Commodity Prices ◽  
Southern African Development Community ◽  
Political Elite ◽  
The Political ◽  
Gdp Growth ◽  
Content Type ◽  
African Development ◽  
The Government

Significance Rifts within the political elite are deepening, evidenced by the departure of former Prime Minister Jean Ravelonarivo -- and his cabinet -- last month. However, the installation of a new administration does not portend stability. Impacts The central bank's decision to cut its benchmark interest rate to 8.3% from 8.7% will facilitate borrowing by firms and households. This is unlikely to boost GDP growth given the countervailing effects of political volatility and low commodity prices. The UN secretary general's appeal (on an official trip earlier this month) for the government to tackle graft is unlikely to be heeded. If Madagascar experiences another coup, the Southern African Development Community bloc will likely expel it -- again.

Ghana's IMF bailout to persist despite souring ties

2016 ◽  
Keyword(s):  
Central Bank ◽  
Budget Deficit ◽  
Credit Rating ◽  
Gdp Growth ◽  
Content Type ◽  
Bank Financing ◽  
Electricity Crisis ◽  
Manufacturing Activity ◽  
The Government ◽  
The Imf

Significance Earlier this month, the government passed a bill allowing for central bank financing of the budget deficit, contravening a core requirement in its agreement with the Fund. Earlier breaches led to the fourth tranche of the bailout (worth 114 million dollars) being withheld. Impacts Other donors will withhold aid disbursements until the impasse between Accra and the IMF is resolved. The electricity crisis will continue to undermine manufacturing activity, contributing to disappointing GDP growth. Ivory Coast's pro-business reforms mean it could attract investors deterred by Ghana's economic woes. Prolonged tensions with the IMF coupled with a deterioration its Ghana's fiscal metrics may drive a credit rating downgrade.

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