scholarly journals Government debt management: challenges and perspectives

2018 ◽  
Vol 15 (3) ◽  
pp. 143-156 ◽  
Author(s):  
Rostyslav Slav’yuk ◽  
Nataliia Slaviuk

The article examines the current tendencies of the government indebtedness in the world. It proves the rapid growth of the government debt in the different countries around the world after the 2008–2009 financial crisis and analyzes the reasons for government debt increase in particular countries and its consequences. The study is devoted to the research of the government debt in developed and developing countries. Particular attention is paid to the government debt of Japan, the USA, the European Union countries. In the article, the government debt of Ukraine, its tendencies, and consequences for the economy are analyzed. The state borrowings in Ukraine are often used for financing the servicing and payment of the existing debt. Government debt can be an important investment source and used for the development of the economies. But in the conditions of its rapid and unlimited growth, government indebtedness can be a burden for the economy.

2021 ◽  
Author(s):  
Silvia Velarde Aramayo ◽  

The OECD is leading global efforts to reach an international consensus around the BEPS Project with the G20 support. Action 1 works on the tax challenges of the digital economy and its proposals have been made with the «inclusive framework» participation that brings together more than 137 countries. The article focuses on the legitimacy, operation, and consequences of all this work for developing countries that, according to estimates of the UNCTAD, lost annually U$100 billion due to tax avoidance schemes by MNEs. The OECD/G20 inclusive framework is designing a new global tax structure and its proposals attempt to introduce new rules on taxing rights allocation and distribution. At the same time, some countries have adopted unilateral measures in order to tax some digital businesses. Finally, the European Union Countries continue to delay the adoption of the CCCTB and DST Directive proposals, and the United States has introduced the GILTI legislation that seeks to tax the global intangible income. Everything seems to indicate that in the next years the international tax architecture will be changed in deep.


Author(s):  
K. Voronov

Despite the crisis, the economy of the European Union remains to be the largest in the world. The economic mechanism of the EU is rather differentiated. It has a great historical experience and possesses sufficient evolutionary robustness. Currently, the former relationships between the EU and the USA undergo substantial changes and new forms emerge. For both of them the greatest challenge is presented by China which in recent decades shows the solid rates of GDP growth. Supposedly, Chines economy will become the world largest on in the new future. Under such conditions the Old World has to conduct a persistent search for new sources of its successful macroeconomic growth.


2015 ◽  
Vol 9 (1) ◽  
pp. 29-40
Author(s):  
Kristina Matuzevičiūtė ◽  
Kristina Montvilaitė ◽  
Dovilė Ruplienė

2021 ◽  
pp. 35-50
Author(s):  
André Sapir

After two prosperous decades, the European Union suffered a serious setback in the late 1970s and early 1980s, with sluggish growth and weak competitiveness in high-tech sectors compared to the USA and Japan. The creation of the single European market in 1993 was a major boost to growth and competitiveness in Europe. Yet, today, even abstracting from the coronavirus crisis, the European Union again faces some economic troubles. Growth has been subdued for a while and the EU is suffering yet again from weak competitiveness in high-tech sectors compared to the USA and to China, which has replaced Japan as the main Asian powerhouse. At the same time, however, the geopolitical situation has changed dramatically. In the earlier days, the world was divided between East and West, and all three main economic powers, the EU, Japan, and the USA, were in the same political camp. Their rivalry was therefore purely economic. Today, there are political dividing lines between the three main economic powers. The EU’s competitiveness problem vis-à-vis China and the USA in some key technologies is therefore not just economic but also geopolitical. Yet, the European Union remains largely an economic entity, though it has started to think and even to act geopolitically. The obvious question is whether Europe will be able to repeat its achievement of nearly 30 years ago and come up with a new design that will boost its growth and competitiveness in this new geopolitical era, or whether this quest will prove elusory.


Author(s):  
Jonathan Bradshaw ◽  
Oleksandr Movshuk

This chapter operationalises and tests out a number of possible measures of extreme poverty applied to the European Union countries, using the analysis of household survey data from EU- Statistics on Income and Living Conditions (SILC). It starts by reviewing developments in the conventional measurement of poverty in the EU. Then the concepts of absolute and extreme poverty are discussed. The bulk of the chapter presents the results of an analysis of the poverty rates, poverty gaps and poverty composition of five conceivable measures of extreme poverty. These are: The World Bank $ per day concept; poverty thresholds based on national minimum income schemes – social assistance; a threshold set on the basis of a minimal reference budget standard; a severe deprivation standard; and an overlaps measure based on severe deprivation and low income. The latter is the preferred option.


2017 ◽  
Vol 6 (2) ◽  
pp. 135
Author(s):  
Rikrik Rahadian ◽  
Tajerin Tajerin ◽  
Zahri Nasution

Sejak pertamakali diperkenalkan pada tahun 1970-an, Generalized System of Preference (GSP) telah diterapkan oleh negara-negara maju seperti United States of America (USA), Jepang dan European Union (EU). Meskipun bertujuan serupa, yaitu mendorong serta memfasilitasi perdagangan bagi negara-negara berkembang, namun pada penerapannya di masing-masing negara terdapat perbedaan pengaturan GSP – terutama terkait perihal daftar beneficiaries serta produk yang memperoleh fasilitas GSP. Tulisan ini bertujuan untuk mengkaji kebijakan US-GSP 2015 serta menganalisis besaran dampak kebijakan tersebut terhadap ekspor produk Kelautan dan Perikanan (KP) Indonesia di pasar ekspor USA. Untuk memperoleh informasi tersebut, maka dipergunakan model SMART yang dikembangkan oleh World Integrated Trade Solutions (WITS) untuk mengolah data perdagangan di USA pada tahun 2014, yang diperoleh dari database TRAIN-UNCTAD. Hasil simulasi menunjukkan bahwa rejim terkini GSP di USA (2015), jika dimanfaatkan, akan dapat mendorong peningkatan ekspor produk perikanan Indonesia ke USA, terutama untuk komoditas olahan. Ever since it was introduced in the 70’s, the Generalized System of Preference (GSP) has been adopted and implemented by the developed countries such as United States of America (USA), Japan and the European Union (EU). Despite its similar purpose, which is to encourage as well as facilitate trade for the developing countries, its implementations in each adopting country have been very customized – especially concerning the beneficiary list and GSP product list. The purpose of this paper is to analyze the impacts of US-GSP 2015 implementation towards Indonesian Fisheries Export to the USA. The research was conducted using a SMART model – an economic model developed by the World Integrated Trade Solution (WITS) – to simulate the impacts of the trade policy using the TRAIN-UNCTAD database. The simulation showed that the latest US-GSP regime, if completely utilized by the Indonesian Exporters, could actually boost Indonesian Fisheries Exports to the USA, especially for the fish processing products. 


2018 ◽  
Vol 40 (1) ◽  
pp. 73-84
Author(s):  
Kamila Kasperska-Kurzawa

SOCIETY OF THE 21ST CENTURY AGAINST THE THREAT OF ISLAMIC TERRORISMThe subject matter includes the issue of transformation in the consciousness of the societies of European Union countries, but also communities in other areas of the world, perception of the phenomenon of migration to the territories of native countries, mainly in the European Union. The period of rapid socio-political changes in Islamic states, as well as the outbreak of civil war in 2011 in Syria, was the largest stimulator of migration movements from the Middle East, especially those covered by military operations in Europe. Hundreds of thousands of migrants continued to reach EU countries. Germany widely opened the door of its state and accepted the largest number of migrants. Some countries, such as Poland or Hungary, refused to accept migrants from countries with an Islamic origin. Migration on such a mass scale caused many social problems. The perceived sense of security of the community has deteriorated considerably in the EU countries where the most migrants came. The decline in the sense of security included areas not only of safety for life and health, but also concerns about reducing the level of social status or increasing unemployment. However, the biggest threat to the community of the EU countries, and many other countries in the world was ahuge increase in terrorist attacks, where the attackers came from orthodox Islamist groups. It should be added that the majority of migrants were Muslims. Another phenomenon also affecting the reduction of the level of perceptible security of European societies was the reactivation of political groups that in their ideologies presented the slogans of populism, nationalism, racism, or even fascism. There has been a clear polarization of Western societies, where until now they were arefuge of democracy, tolerance and values for which they fought for years. Undoubtedly, the politics of Erdogan, the president of Turkey, and the president of Russia, Putin, also influencedthestate of security of societies, and tried to influence EU decisions with their actions. Russia, let the annexation of Crimea and activities in Ukraine be left in peace, and Turkey, to force the EU to acceleratethe admission of this country to the EU. Also calling up the so-called Islamic state posed a huge threat to the security of the communities of European Union countries with attacks inspired by this terrorist group.


2020 ◽  
Vol 14 (1-2) ◽  
pp. 109-114
Author(s):  
Zsuzsa Koroknay

Sport is one of the most dynamically developing sectors in the world. During my research, I was looking for the answer to why and how the economic aspects of sport have evolved in recent times. I examined and evaluated sports economy indicators for the global (The European Union) and territorial (Hungary) units (for the last twenty years). The need for measurability is constantly increasing nowadays. This can also be seen in the markets of the sports sector, so we can find databases that are increasingly expanding in this sector. I have analysed EUROSTAT databases - with indexing – which can provide relevant information. The research field was two economic aspects, the number of employee and trade in sporting goods. The number of employees was analysed separately by the European Union and Hungary. In the examination of trade in sporting goods The Hungarian trade in sporting goods was compared to the neighbouring European Union countries. Based on my results, I can say that the economic importance of the sports sector has increased within the European Union and Hungary as well because the number of employed people in sports and the trade in sporting goods has increased. JEL Code: L83, Z20 ARTICLE IN PRESS!


2019 ◽  
Vol 5 (3) ◽  
pp. 193
Author(s):  
Oksana Safonchyk ◽  
Artem Ripenko

Political corruption as a social phenomenon exists in virtually all countries of the world, including those that most researchers consider as “benchmarks” in terms of the development of democracy. At the same time, there is a steady tendency towards the growth of political corruption and the evolution of corruption practices in developed democratic countries. Problems of political corruption in the professional literature are given a lot of attention but the issues related to the peculiarities of the experience of fighting political corruption in the EU in the context of the introduction of appropriate practices in Ukraine remain insufficiently researched. In the context of reforming the modern Ukrainian society, the study of problems of preventing and counteracting corruption is extremely relevant for a number of reasons: firstly, corrupt practices in the government machinery are the main obstacle to the implementation of any reforms; secondly, the high level of corruption in society, as evidenced by the results of the World CPI Corruption Perception Index 2015, decreases public confidence in the government; thirdly, it is necessary to implement the anti-corruption recommendations of the Action Plan on Visa Liberalization from the European Union (EU); fourthly, the reduction of corruption would contribute to attracting international investment, and so on. The purpose of the article is to identify features of counteraction to corruption in the countries of the European Union and to analyse the formation of government administration as the main precondition for narrowing the corruption space. To achieve this purpose, the following goals were set: to determine the level of implementation of international anti-corruption standards in the government practice of Ukraine; to investigate the formation and development of anti-corruption institutions; to analyse the experience of anti-corruption institutions in the EU; to investigate the formation of informational transparency of government space; to analyse the ratings of Ukraine regarding data openness; to find out the features of E-Declaration models as an element of public control of anti-corruption institutions in the system of public administration. Reaffirming its European aspirations, during 2001–2018, Ukraine ratified several laws in relation to the formation of anti-corruption standards: a) general and on liability for corruption offenses and offenses related to corruption; b) documents on the activities of specialized agencies for fighting corruption; c) documents on ethical rules, anti-corruption restrictions and prohibitions for certain officials and on the prevention of political corruption; d) documents on the prevention of corruption in the economy and sports; e) documents on access to information. This allows asserting that in general the legislative framework for the prevention of corruption in Ukraine has already been established. Despite the adoption of many laws, out of 200 anti-corruption measures, which, according to the State Program for the implementation of the Anticorruption Strategy, had to be implemented by state bodies by the end of 2018, about 35% had not been implemented. Anticorruption strategy for 2019 and subsequent years and the State Program for its implementation do not exist. Many important anti-corruption laws, which would help to further improve the Ukrainian economy, finance, the system of social protection of the population, and so on, were not adopted. Many of the problems that prevent effective use of the data obtained still need to be resolved. It is also necessary to find solutions for defining the electronic declaration of anti-corruption crusaders.


10.26458/1710 ◽  
2017 ◽  
Vol 17 (1) ◽  
pp. 13
Author(s):  
Elena Gurgu

After a year in which Romania achieved the fastest growing economy in the European Union, 2017 comes with a unique set of challenges.In 2016, the economy was the main driver of consumption and economic analysts expect it to slow down, while prices will increase. The government estimated an increase of 5% for the Romanian economy in 2017, but the World Bank warns that this could be too optimistic and expects an advance of only 3.4% of the economy. However, growth remains above the EU average, which is why 2017 could be a year at least as good as 2016. ...


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