scholarly journals PANDEMIC ECONOMIC IMPACT AND INTERNATIONAL RISKS

2020 ◽  
Author(s):  
Volodymyr Shevchenko ◽  
Keyword(s):  
International Economic ◽  
International Relations ◽  
Everyday Life ◽  
Economic Impact ◽  
Economic Policies ◽  
Economic Shocks ◽  
Medical Crisis ◽  
Economic Volatility ◽  
European Economies ◽  
Economic Risks

Unpredicted COVID-19 pandemic in 2020 has generated the worldwide shocks for countries, changed everyday life for millions of people, stressed businesses and international relations. Pandemic shocks have had strong economic impact on contractions of industries and services, continuing international economic volatility and recession. Economic shocks and their influence on the European economies are complex, foresights of recovery looks uneven. Shocks implications are causing the lasting international economic risks. The major international economic risks currently are uncertainty, recession duration and cost risk, disproportionate recovery risk, regional economic differentiation, international supply chains risks, global debt risk. Recovery prospects are dependable on risks, medical crisis mitigation and targeted economic policies implementation.

scholarly journals Coronavirus and the need for strong government institutions: defeating the pandemic and reviving economies

2020 ◽  
Vol 37 (74) ◽  
pp. 205-217
Author(s):  
Alexis S. Esposto
Keyword(s):  
Economic Impact ◽  
Extreme Events ◽  
Best Practice ◽  
Rapid Response ◽  
Economic Policies ◽  
Economic Shocks ◽  
Government Institutions ◽  
Policy Responses ◽  
The World ◽  
Australian Economy

This paper discusses the importance of government and economic institutions in dealing with economic shocks such as the COVID-19. In attempting to deal with this massive health, social and economic upheaval, governments around the world have been using a variety of social and economic policies. These policies have two aims. First, to reduce the spread of the virus and second to mitigate the economy wide damage that the spread of the virus is causing. The paper describes the initial economic impact of the virus worldwide and on the Australian economy. It also argues that unless a rapid response is made, the likelihood of a world depression is high. The analysis focuses on the importance of government institutions in respond-ing to major economic shocks. It showcases the work of the Treasury of Australia as a model of best practice for the development of economic policies designed to respond to extreme events. The paper concludes by providing a set of economy wide policy responses to tackle the current economic shocks.

The Sovereignty of Politics

Worldview ◽  
1972 ◽  
Vol 15 (10) ◽  
pp. 13-17
Author(s):  
Gunnar Myrdal
Keyword(s):  
Nineteenth Century ◽  
Economic Theory ◽  
International Relations ◽  
Free Trade ◽  
The Political ◽  
Economic Factors ◽  
Economic Policies ◽  
Economic Relations ◽  
General Proposition ◽  
Marxist Tradition

Just so there is no misunderstanding: I do not believe economic policies can make much of a contribution to peacekeeping. During the nineteenth century and up to the present there has been a tendency to stress too much the economic factors in international relations. Liberal economic theory, from the classical writers on, is in this respect strikingly similar to what we now identify as the “Marxist” tradition. It is glibly assumed in both camps that trade is an important contributor to peaceful relations on the political level. That trade and economic relations generally worked for peace was an important corollary to the free-trade doctrine, and as a general proposition it now receives almost universal acclaim.

scholarly journals International rivalry and global business leadership: an historical perspective

2020 ◽  
Vol 28 (4) ◽  
pp. 429-446 ◽  
Author(s):  
Mark Casson
Keyword(s):  
International Economic ◽  
Economic History ◽  
Historical Perspective ◽  
Multinational Enterprise ◽  
Economic Policies ◽  
Outward Fdi ◽  
Global Business ◽  
Content Type ◽  
Long Run ◽  
Over Time

Purpose This paper aims to introduce economic history as a new stream of international business (IB) research. It offers a long-term perspective on how the IB has evolved over time, focussing on the interplay between multinational enterprise and the nation state. Design/methodology/approach The paper uses existing scholarly literature on international economic history to develop eight key propositions regarding the interface between the politics and economics of foreign direct investment (FDI). Findings There is a rivalry between nation states and competition between firms. These two forms of conflict interact. Nations use their leading firms as instruments of international policy while leading firms rely on political and financial support from home nations. Using historical evidence and cross-country comparisons, the paper explains has the scale and scope in IB activity have changed dramatically over time. Research limitations/implications There is scope for more detailed historical studies on national policies towards inward and outward FDI. Practical implications It is important to see the recent international economic policies of China in a long-run historical perspective and to appreciate the similarities between its policies and those of other countries in the past. Social implications Many of the potential economic gains generated by FDI may be lost through an excessive commitment of resources to the pursuit of military power as a foundation for international political power. Originality/value This paper challenges IB researchers to widen their horizons.

International Economic Policies.

Social Forces ◽  
1926 ◽  
Vol 4 (4) ◽  
pp. 831
Author(s):  
William L. Langer ◽  
William Smith Culbertson
Keyword(s):  
International Economic ◽  
Economic Policies

Autonomous expenditures and induced investment: a panel test of the Sraffian supermultiplier model in European countries

2020 ◽  
Vol 8 (2) ◽  
pp. 220-239
Author(s):  
José A. Pérez-Montiel ◽  
Carles Manera Erbina
Keyword(s):  
Economic Policies ◽  
Cross Sectional ◽  
Endogenous Regressors ◽  
Long Run ◽  
Equilibrium Relationship ◽  
National Economic ◽  
Causality Tests ◽  
Cross Sectional Dependence ◽  
European Economies ◽  
Heterogeneous Panel

This paper tests the main postulates of the Sraffian supermultiplier model for the case of 16 European economies during the period 1995–2018. We adopt the methodology of Girardi and Pariboni (2016) and extend it to a panel framework. We apply panel unit root, cointegration, and causality tests that are robust to endogenous regressors, cross-sectional dependence and heterogeneity across countries. Our results are supportive of the Sraffian supermultiplier model. In a heterogeneous panel framework, autonomous demand and output follow a long-run equilibrium relationship and there exists panel long-run causality that goes unidirectionally from autonomous demand to output. We also empirically verify the investment accelerator (the mechanism that enables the dynamic stability of the model) by confirming the existence of same-sign panel causality running unidirectionally from the growth rate of autonomous demand to the investment share. Our results call for national economic policies aimed at promoting the components of autonomous demand that act as locomotives of growth in each country.

Globalization of International Economic Relations, Information Technologies and Move to a New Level of Diffusion in Law

2015 ◽  
Vol 3 (5) ◽  
pp. 0-0
Author(s):  
Наталья Семилютина ◽  
Natalya Semilyutina
Keyword(s):  
International Economic ◽  
International Relations ◽  
Information Technologies ◽  
Traditional Approach ◽  
Economic Relations ◽  
Foreign Law ◽  
International Economic Relations ◽  
Information Law ◽  
Grass Root ◽  
Legal Structures

Globalization of international economic relations directly depends on the level of information technologies’ development. At present the development of information law has created favourable conditions for interpenetration of the rules of foreign law. This penetration is called diffusion in law. The article investigates the aspect of interpenetration of legal ideas and decisions through contracts concluded by participants in civil law relations. In business relations’ practice, parties frequently borrow not only legal language, but also legal structures from foreign contract forms. In case of a conflict situation there arises a problem of interpretation of th elegal formula which the parties have imported from a foreign law and copied in their contractual relations. Traditional approach assumes that a court, when interpreting contractual provisions, even imported from a foreign law, follows its law, i.e. lex fori. Development of international relations demonstrates imperfection of such approach, since such approach does not allow identifying the parties’ true intentions while concluding the contract. Development of international relations, amplification of economic relations results in the fact that the parties increasingly use international structures in their practice. For example, UNIDROIT Principles, to which the parties may refer in their contracts. But other states also use the UNIDROIT Principles and include them into their most recent codification. In such a way there appears “grass-root diffusion”, i.e. through the development of private contractions relations.

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