scholarly journals Economic policies in a pandemic

2021 ◽  
Vol 49 (1) ◽  
pp. 185-192
Author(s):  
A.P. Kireyev ◽  
◽  
J. Ferrer ◽  
Keyword(s):  
Economic Policy ◽  
Economic Policies ◽  
Policy Space ◽  
Emergency Assistance ◽  
Effective Policy ◽  
Fiscal Space ◽  
Institutional Features

What economic policy space does a country have to respond to a crisis provoked by the Covid-19 pandemic? To assess this space, the article calculates the nominal policy space index as a sum of each country’s fiscal space, monetary space, and reserve space. This nominal policy space is then adjusted for institutional features of individual countries to derive the effective policy space index. By way of illustration, the article applies the index to the Covid-19 crisis. It finds that at least 95 countries (about 11 percent of global GDP and 23 percent of population) have no or very limited policy space and may require emergency assistance.

scholarly journals Regional Economic Outlook, April 2020, Middle East and Central Asia

2020 ◽  
Author(s):  
Keyword(s):  
Middle East ◽  
Central Asia ◽  
Health Spending ◽  
Policy Space ◽  
Emergency Assistance ◽  
External Assistance ◽  
Fiscal Space ◽  
Conflict Affected States ◽  
Central Asia Region ◽  
Economic Outlook

Countries of the Middle East and Central Asia region have been hit by two large and reinforcing shocks, resulting in significantly weaker growth projections in 2020. In addition to the devastating toll on human health, the COVID-19 pandemic and the plunge in oil prices are causing economic turmoil in the region, with fragile and conflict affected states particularlyhard-hit given already large humanitarian and refugee challenges and weak health infrastructures. The immediate priority for policies is to save lives with needed health spending, regardless of fiscal space, while preserving engines of growth with targeted support to households and hard-hit sectors. In this context, the IMF has been providing emergency assistance to help countries in the region during these challenging times. Further ahead, economic recoveries should be supported with broad fiscal and monetary measures where policy space is available, and by seeking external assistance where space is limited.

The age of symbolic economic policies?

2015 ◽  
Vol 37 (2) ◽  
pp. 245-265
Author(s):  
Peter Galbács
Keyword(s):  
Economic Policy ◽  
Theoretical Framework ◽  
Policy Tools ◽  
Economic Policies ◽  
Mainstream Economics ◽  
History Of ◽  
Theoretical Considerations ◽  
Macroeconomic Environment

This paper offers a few remarks on the so-called heterodoxy commentaries of recent times (e.g. Bod 2013, Csaba 2011). In accordance with the growing popularity of unusual economic policy actions, a set of “tools” is emerging that aims to exert its effects breaking with instrumental actions. Outlining a special framework of the history of mainstream economics, it will be argued that economic policy only gradually has become capable of applying this system. In our view, both the emergence of symbolic economic policies mentioned above and the rise of heterodoxy are on the same level, since certain governments can only operate through giving signals. Although it is not the time to formulate ultimate and eternal generalised statements, it may perhaps be stated that symbolic economic policies can make some room for manoeuvring available as a last resort. In other words, the possibility of a certain kind of economic policy “tools” can be derived from theoretical considerations, and this set has become highlighted recently by some constraining changes in the macroeconomic environment. Our theoretical framework will be filled sporadically with some episodes from the last few years of the economic policy of Hungary.

Assessment of Poland's Economic Policy During te Crisis

2013 ◽  
Vol 8 (3) ◽  
pp. 195-210
Author(s):  
Stefan Krajewski
Keyword(s):  
Economic Policy ◽  
Pension System ◽  
Fiscal Sustainability ◽  
Economic Policies ◽  
Role Of The State ◽  
The Usa ◽  
Reducing Costs ◽  
Polish Economy ◽  
Favorable Conditions ◽  
The Eu

The rapid weakening of economic activity, covering most states in the world, gives rise to a lively discussion on the choice of methods to tackle the crisis, the legitimacy and effectiveness of various economic policies, the role of the state and the scope of its intervention in the economy. The paper evaluates the Polish economic policy in recent years. This refers to the situation prevailing in the EU and the USA. I conclude that the Polish economy during the crisis remained relatively stable, without having to provide the emergency aid from the outside. The development of such a situation has been affected by different reasons, including: - The benefits of the so-called "backwardness rent", which resulted, among others, in the inflow of EU funds (Poland was in 2007-2013 and in will be in 2014-2020 the biggest beneficiary of the EU budget); - The effects of decisions on changes in the tax and social security, taken for political reasons (before the crisis); - The controversial withdrawal from the funded pension system, reducing the budget deficit and public debt; - The prudent monetary policy and anti-inflation policy pursued over many years. Actions taken in Poland are primarily focused on reducing costs, which differs quite significantly from the economic policy dominant in the U.S. and the "old" EU countries which generally pursue expansionary fiscal policy and a policy of cheap money. Polish solution facilitates the achievement of short-term fiscal sustainability, but does not create favorable conditions for the development in the long-term (insufficient investment, petrification of economic structure, lack of innovation). 

scholarly journals The Concept of Indonesia Raya Incorporated Conforms the Constitution of Economics: Studies of Grounded Theory on State Asset Ownership Management

2018 ◽  
Vol 8 (1) ◽  
pp. 136
Author(s):  
R. Agus Trihatmoko ◽  
Y. Sri Susilo
Keyword(s):  
Economic Policy ◽  
Grounded Theory ◽  
Private Sector ◽  
Group Discussion ◽  
Regional Government ◽  
Theory Approach ◽  
Economic Policies ◽  
Asset Ownership ◽  
New Economic Policy ◽  
The Republic

The phenomenon regarding the emersion of the idea of Indonesia Raya Incorporated (IRI) is interesting to be thereferences in economic policy studies.This study aim to reveal and interpret the management of state asset ownership as a proposal on the IRI approach. This research used qualitative method, designed with grounded theory approach and constructivism philosophy. Data collection was obtained from the results of Focus Group Discussion (FGD) of economists from various universities. The results reveal that: (1) The gap on state asset ownership by state-owned enterprises(BUMN), regional government-owned enterprises(BUMD) and private sectoras a result of economic liberalization is the antecedent of the emergence of the idea about IRI; (2) IRI encourages changes in the legislation for new economic policies; (3) The new economic policy,in form of IRI eliminates the gap in state asset ownership by BUMN, BUMD and private sector; (4) The gap on state asset ownership by BUMN, BUMD, and private sector will determine the prospects of society welfare level and economic sovereignty, and finally lead to the integrity of the Unitary State of the Republic of Indonesia. It is generally concluded that IRI whichis proposed in the management of state asset ownership has fulfilled the economic constitution.

scholarly journals KEBIJAKAN EKONOMI DAN PENINGKATAN DAYA SAING INDONESIA MENGHADAPI MASYARAKAT EKONOMI ASEAN 2015

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Suharyono Suharyono
Keyword(s):  
Economic Policy ◽  
Economic Policies ◽  
Economic Community ◽  
Balance Of Trade ◽  
The Government ◽  
Asean Economic Community

<p>Since 2003 Bali Concord II that  sett up  (ASEAN Economic Community/AEC, Indonesia has been engaged in the efforts of strengthening the country especially setting forth economic policy that is condusive to achieving the country’s level of competition. The paper shall deal with challenges that Indonesia has faced in the issue. The challenges that are identified include balance of trade, dependable entrepreneurs, and rate of productivity of manpower.How has the government come up with sound economic policies? The account finds that the most recent economic policies of Joko Widodo have not achieved better results in coping the cahallenges.</p><p> </p><p><strong>Keywords :</strong> Economic policy, State, Competition, ASEAN Economic Community.</p>

scholarly journals Evaluation of Coupling and Coordinated Development of Marine Economic Policy and Marine Service Industry

2021 ◽  
Vol 235 ◽  
pp. 01011
Author(s):  
Zuoliang Lv ◽  
Bin Li
Keyword(s):  
Economic Policy ◽  
Service Industry ◽  
Causal Effect ◽  
Good Condition ◽  
Economic Policies ◽  
Coordinated Development ◽  
Development Level ◽  
Main Factors ◽  
The Government ◽  
Coordination Degree

This article studies the coordinated development of marine economic policy and marine service industry by constructing a system for evaluating marine economic policy and marine service industry indicators and applying a coupled coordination degree model, and analyzes its development laws. The research shows that the coordinated development level of marine economic policy and marine service industry is on the rise, the interaction level among the elements in the system is enhanced, the cyclic cumulative causal effect and cluster advantage are enhanced, and the coordinated development level is adjusted from primary imbalance to primary coordination. Under the comprehensive effect of the stable curve law of the development of marine economic policies and the stable rising law of the development of marine service industry, the development of marine service industry is in good condition, and the development of marine economic policies lags behind. To further promote the high-quality development of marine service industry, the government can strengthen Guide the connection between the main factors of the two systems and the positive and dynamic response to further promote the coordinated development of the two.

The Political Construction of a Coordinated Political Economy

2020 ◽  
pp. 1-14
Author(s):  
Philip Manow
Keyword(s):  
Economic Policy ◽  
Welfare State ◽  
Economic Performance ◽  
Research Question ◽  
The Other ◽  
The Political ◽  
Central Research ◽  
Economic Policies ◽  
The One

The first chapter motivates the book’s central research question: how did the German variant of capitalism emerge, and what today is its central functioning logic? The chapter argues that past and recent accounts of Germany’s economic performance and economic policy have failed to fully explain how long-term stable economic coordination could have evolved in as large a country as Germany, and that this has also translated into an often biased view of Germany’s current economic policies. The chapter sketches the basic argument of the book—namely that the German welfare state was the prime means of economic coordination for unions and employers, labor and capital—and situates it in two relevant literatures: the Varieties of Capitalism literature on the one hand and the Comparative Welfare State literature on the other. The chapter also presents an overview of the book.

Economic Policy

2019 ◽  
pp. 173-195
Author(s):  
William Keech ◽  
William Scarth
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Policy ◽  
Fiscal Policy ◽  
Income Distribution ◽  
Political Institutions ◽  
Productivity Growth ◽  
The United States ◽  
Economic Policies ◽  
Sustainable Fiscal Policy

This chapter identifies the differing policies and outcomes that Canadians and Americans have pursued with respect to economic growth, stabilization, and income distribution, and it analyzes several factors that can partially explain why divergent policy choices have emerged. The United States (U.S.) has recorded better productivity growth, while Canada has achieved a more sustainable fiscal policy, a less fragile financial sector, and more generous distributional policies. These contrasting outcomes are related to differences in size and geography, in political culture, and in political institutions. The analysis also considers how much it may be possible for each country’s policymakers to benefit from the other’s experiences. While identifying some lessons in this regard, the authors conclude that the sheer difference in the size of the two economies affects which economic policies can be expected to be effective. As a result, it is concluded that convergence in economic policymaking will remain somewhat limited.

Judith Stein, Running Steel, Running America: Race, Economic Policy, and the Decline of Liberalism. Chapel Hill: University of North Carolina Press, 1998. xi + 323 pp. $59.95 cloth; $19.95 paper.

2000 ◽  
Vol 57 ◽  
pp. 145-148
Author(s):  
Alex Lichtenstein
Keyword(s):  
North Carolina ◽  
Economic Policy ◽  
Civil Rights ◽  
Race Relations ◽  
Economic Policies ◽  
Racial Justice ◽  
Chapel Hill ◽  
Fair Employment ◽  
History Of ◽  
American Economy

Judith Stein recounts two histories in tandem that all too frequently are narrated separately: “that of a changing [American] economy and that of changing race relations” (2). The brilliant originality of Running Steel is to bring the history of civil rights in employment together with larger questions of national, indeed international, post-1945 political economy. The struggle for racial justice appears neither a beneficiary nor a casualty of an easily invoked but vaguely defined “liberalism,” as in so many other studies. Instead, the limits of fair employment prove an integral part of the making and unmaking of a political and economic totality with quite specific elements seemingly unconnected to race relations. In contrast to currently fashionable neoliberal accounts, Stein concludes “it was the foreign commitments and economic policies of liberalism, not the excesses of racial reformers or the racism of the culture, that transformed American politics in the postwar era” (6).

scholarly journals Fiscal consolidation in developed and emerging economies

Nova Economia ◽  
2015 ◽  
Vol 25 (spe) ◽  
pp. 835-861
Author(s):  
Paulo André Camuri ◽  
Frederico G. Jayme Jr. ◽  
Ana Maria Hermeto
Keyword(s):  
Economic Growth ◽  
Emerging Economies ◽  
Standard Errors ◽  
Economic Policies ◽  
Fiscal Consolidation ◽  
Transition Path ◽  
Causality Test ◽  
Developed Economies ◽  
Fiscal Space ◽  
Main Determinants

Abstract: The debate regarding fiscal policy has given support to the formulation of an economic policy based on control of indebtedness and in persecution of public savings, acting as important support for the economic growth. This paper presents evidence that counter acts this theory of expansionary austerity. A set of panel data regressions is estimated - through Driscoll & Kraay’s, FGLS, panel corrected standard errors, and SUR estimators and the causality test approach proposed by Kónya (2006) - in search of robust inference related to the main determinants that encompasses the fiscal framework. Our conclusion is that the empirical evidence - using a set of 20 developed economies and other of 24 emerging economies - suggests that identical economic policies for different countries might conduce to results that are opposite to the desired outcome. Notwithstanding the adverse effects associated to explosive debt path, the search for “fiscal space” should be determined essentially by a pro-growth agenda. This is particularly important for the emerging economies facing the transition path challenges.

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