The 2011 Commonwealth Local Government Conference: Energising Local Economies: An Overview

The Right ◽

In the current economic climate, creating the right environment for local enterprise, inward investment, and business and skills development, is an important factor in ensuring the prosperity and wellbeing of local communities. The impact of the global financial crisis has not been uniform across the Commonwealth and countries are using different strategies to overcome their financial difficulties. Local government increasingly plays an important part in this. More and more local governments in countries across the Commonwealth have responsibilities and powers for local economic development: in some countries local authorities can already show how their policies and actions are helping energise their local economies, while in other countries local councils are just beginning to get to grips with these responsibilities.

The Future of Cross-Border Insolvency

10.1093/oso/9780198782896.001.0001 ◽

2018 ◽

Cited By ~ 4

Author(s):

Irit Mevorach

Keyword(s):

International Law ◽

Financial Institutions ◽

Multinational Enterprises ◽

Global Financial Crisis ◽

Cross Border ◽

The Future ◽

Global Welfare ◽

The Right ◽

This book interrogates the current cross-border insolvency regime and sets out a pattern to improve its future. In recent decades, and especially since the global financial crisis, a number of important initiatives have focused on developing effective solutions for managing the insolvency of multinational enterprises and financial institutions. This book takes stock of the varying success of previous policy, and identifies the gaps and biases that could be bridged by employing a range of strategies. The book first sets out the theoretical debates regarding cross-border insolvency and surveys the strengths and weaknesses of the prevailing method, ‘modified universalism’, synthesizing divergences into a rubric for both commercial entities and financial institutions. Adhering to these norms more robustly, the book argues, would enhance global welfare and produce the best outcomes for businesses and institutions. Drawing upon sources from international law as well as behavioural and economic theory, the book considers how to translate modified universalism into binding international law, how to choose the right instrument for cross-border insolvency, the impact instrument design has on decisions and choices, and the means to encourage compliance. In particular, the book proposes measures that could potentially overcome, or at least take into account, behavioural biases in decision-making in order to create a system that works for businesses, and offers a blueprint for the future of cross-border insolvency.

Decentralisation or deconcentration: The case of regional and local economic development in South Africa

Local Economy The Journal of the Local Economy Policy Unit ◽

10.1177/02690942211018427 ◽

2021 ◽

pp. 026909422110184

Author(s):

Isaac Khambule

Keyword(s):

South Africa ◽

Economic Development ◽

Local Government ◽

Local Governments ◽

Local Economic Development ◽

Developmental Outcomes ◽

Developing Nations ◽

Regional Level ◽

Local Economies ◽

National Division

The widespread globalisation, democratisation and decentralisation process that took place in developing nations in the early 1990s created unique opportunities for subnational governments to play an important role in delivering developmental outcomes. Revitalising regional and local economies is one important mandate that emerged with the decentralisation process as a key function for local governments. However, the local government sphere in South Africa faces failures in driving regional and local economic development due to various institutional and market-related challenges. Against the failure of decentralised entities to drive regional and local economic development in South Africa, this article considers the utilisation of deconcentration through dedicating national administrative powers and resources to the regional level to revitalise the prospects of local economies. The article argues that there are better prospects for regional and local economic development through deconcentration due to the expertise, resources and capacities found within the national and provincial governments, as they receive a significant share of the national division of revenues. The article further demonstrates how deconcentration can be implemented through the state deconcentrating and managing its economic development functions at the regional level to municipal-owned district economic development entities tasked with stimulating regional economic development.

Insolvent Local Government: German Approaches to Prevention

Central European Public Administration Review ◽

10.17573/cepar.v9i2.174 ◽

2014 ◽

Vol 9 (2) ◽

Author(s):

Thomas Duve ◽

Wolfgang Drechsler

Keyword(s):

Financial Crisis ◽

Local Government ◽

Local Governments ◽

Global Financial Crisis ◽

Empirical Basis ◽

Financial Pressure ◽

Budget Crisis ◽

Municipal Autonomy ◽

Do So

The global financial crisis is affecting local governments particularly strongly. The threat of insolvency looms large for many local governments, and therefore, it is unfortunately very timely to examine this issue. Can genuine bankruptcy occur, should it be allowed to occur, can it be prevented, and if it cannot be, how can it be managed well? In order to do so, the current essay sets out to investigate, on an empirical basis, how Germany has so far (i.e., before the crash) dealt with the issue of municipal insolvency. This pre-crisis approach also underlines the importance of the topic, because it shows that even in more or less financially solid times, municipalities were already exposed to high financial pressure. Now, the crisis has increased the number of municipalities facing a budget crisis. The results of the present investigation can assist in dealing with the consequences of the crisis. On account of its high and indeed paradigm-setting level of municipal autonomy, the possibility of drawing lessons from Germany should be particularly interesting.

Bureaucratic Slack in China: The Anti-corruption Campaign and the Decline of Patronage Networks in Developing Local Economies

The China Quarterly ◽

10.1017/s0305741019001504 ◽

2019 ◽

Vol 243 ◽

pp. 611-634 ◽

Cited By ~ 1

Author(s):

Peng Wang ◽

Xia Yan

Keyword(s):

Local Governments ◽

Local Economic Development ◽

Participant Observation ◽

Local Level ◽

Causal Link ◽

Local Economy ◽

Political Survival ◽

Local Economies ◽

Local Officials ◽

AbstractThis article presents a qualitative empirical study of the impact of corruption and anti-corruption on the efficiency of China's bureaucratic system in developing a local economy. Drawing on 40 in-depth interviews and 98 days of participant observation, it first investigates the significance of extravagant position-related consumption in building personalized bureaucratic ties (patronage networks) and mobilizing resources for local economic development. It then examines the causal link between President Xi's campaign against corruption and extravagance and the rise of bureaucratic slack in local governments. The anti-extravagance campaign reduces the level of corruption in local government but it discourages local officials, who are motivated primarily by the desire to avoid risk and ensure political survival, from using banquets and gift-giving to build patronage networks, attract investment and mobilize development resources. The article concludes that corruption may contribute positively to the efficiency of a fragmented Chinese bureaucracy in fostering development at the local level, while the anti-corruption campaign compels local cadres to develop a new coping strategy – bureaucratic slack – for implementing policies and developing local economies.

The Effects of Economic Crises on Participatory Democracy

Policy & Politics ◽

10.1332/030557318x15407316045688 ◽

2019 ◽

Vol 47 (2) ◽

pp. 265-286 ◽

Cited By ~ 1

Author(s):

Pau Alarcón ◽

Carol Galais ◽

Joan Font ◽

Graham Smith

Keyword(s):

Local Governments ◽

Global Financial Crisis ◽

Participatory Democracy ◽

Economic Crises ◽

The Public ◽

Economic Problems ◽

Participatory Processes ◽

Analytical Strategies ◽

This paper examines the impact of economic conditions on participatory democracy. It analyses whether economic crises affect the types of proposals that emerge from local participatory processes and the fate of these proposals. Focusing on more than 500 proposals that emerged from 34 participatory processes in Spain between 2007 and 2011, our study covers a period which straddles the emergence of severe economic problems resulting from the global financial crisis. Applying four different but complementary analytical strategies, we find two types of effects. First, proposals made during the crisis period were less costly though more challenging. Second, local governments implemented a smaller proportion of the proposals that were put forward by the public. These findings suggest that external economic shocks reduce the ability of governments to respond to the demands of citizens, but that citizens also recalibrate their expectations in response to austerity.

Income Distribution in Turkey during the Global Financial Crisis

Research in Applied Economics ◽

10.5296/rae.v9i3.11709 ◽

2017 ◽

Vol 9 (3) ◽

pp. 91

Author(s):

Sinem Sefil-Tansever

Keyword(s):

Financial Crisis ◽

Income Inequality ◽

Global Financial Crisis ◽

Income Source ◽

Labor Earnings ◽

Income Sources ◽

Gini Decomposition ◽

The Impact ◽

Earning Inequality

The aim of this study is to examine mechanism responsible for the behavior of the income and earning inequality in Turkey during the global financial crisis based on data from the 2006 to 2014 Income and Living Conditions Survey. Gini decomposition by income source is employed in order to provide an analysis of the contribution of the various income sources to the evolution of income inequality and to assess the impact of a marginal percentage change in the income from a particular source on income inequality. For examining the contributions of specific variables (education, position in occupation, economic sector) to the interpretation of labor earnings inequality in terms of their gross and marginal contribution, we use static decomposition of Theil T index.

Financial indebtedness and suicide: A 1-year follow-up study of a population registered at the Swedish Enforcement Authority

International Journal of Social Psychiatry ◽

10.1177/00207640211036166 ◽

2021 ◽

pp. 002076402110361

Author(s):

Yerko Rojas

Keyword(s):

Global Financial Crisis ◽

Swedish Population ◽

Financial Difficulties ◽

Enforcement Authority ◽

Socioeconomic Risk ◽

Registration Date ◽

Detrimental Impact ◽

General Swedish Population

Background: Economic hardship is an established suicidogenic factor. However, very little is known about whether financial difficulties in terms of debt problems, specifically, is related to suicide. This would seem to be an important research gap, not least at a time when the repercussions of the global financial crisis are still being felt by many people. Aims: This study sets out to examine whether experiencing financial indebtedness is related to suicide. Methods: For this purpose, people aged between 18 and 64 with a registration date for a debt in the Swedish Enforcement Authority register between 2015 and 2017 ( n = 180,842) are followed up for a 1-year period for death by suicide and compared with a sample from the general Swedish population ( n = 928,265). The analysis is based on penalized maximum likelihood logistic regressions. Results: Those who had experienced financial indebtedness were two and a half times more likely to commit suicide than those who had not lived through this experience (OR = 2.50), controlling for several demographic, socio-economic, and mental health conditions prior to the date of the registration at the Enforcement Authority. Conclusion: Debt repayment problems have a significant and detrimental impact on individuals’ risk of committing suicide, even when several other socioeconomic risk factors are controlled for. The results reinforce the importance of ongoing attempts to remove the issue of debt problem from its status as a rather hidden suicidogenic risk factor.

Russia and the CIS in 2008: Axis of Authoritarianism??

Asian Survey ◽

10.1525/as.2009.49.1.135 ◽

2009 ◽

Vol 49 (1) ◽

pp. 135-145 ◽

Cited By ~ 4

Author(s):

Charles E. Ziegler

Keyword(s):

Financial Crisis ◽

Economic Performance ◽

Domestic Politics ◽

Global Financial Crisis ◽

Great Power ◽

The Caucasus ◽

Central Asian ◽

Presidential Succession ◽

Russia's seamless presidential succession produced no major changes in domestic politics or foreign policy. Ties with Asia remained strong, though several key relationships——with China, Japan, and the Central Asian states——frayed under the impact of Russia's military action in Georgia. Impressive economic performance in the first half of the year boosted Russian confidence as a great power, but its vulnerability to the global financial crisis together with the heavy-handed operation in the Caucasus undermined Moscow's standing with both Asia and Europe by the end of the year.

Evolution of e-participation in Greek local government

Information Polity ◽

10.3233/ip-190174 ◽

2021 ◽

pp. 1-15

Author(s):

Constantina Costopoulou ◽

Maria Ntaliani ◽

Filotheos Ntalianis

Keyword(s):

Decision Making ◽

Big Data ◽

Local Government ◽

Local Governments ◽

Local Community ◽

New Technologies ◽

Mobile Apps ◽

Digital Technologies ◽

Decision Making Processes ◽

Local governments are increasingly developing electronic participation initiatives, expecting citizen involvement in local community affairs. Our objective was to assess e-participation and the extent of its change in local government in Greece. Using content analysis for 325 Greek municipal websites, we assessed e-participation status in 2017 and 2018 and examined the impact of change between these years. The assessment regards two consecutive years since the adoption of digital technologies by municipalities has been rapid. The main findings show that Greek local governments have made significant small- to medium-scale changes, in order to engage citizens and local societies electronically. We conclude that the integration of advanced digital technologies in municipalities remains underdeveloped. We propose that Greek municipalities need to consider incorporating new technologies, such as mobile apps, social media and big data, as well as e-decision making processes, in order to eliminate those obstacles that hinder citizen engagement in local government. Moreover, the COVID-19 outbreak has highlighted the need for enhancing e-participation and policymakers’ coordination through advanced digital technologies.

Australian Biotechnology: A 10-Year Study of Investor Performance

Journal of Commercial Biotechnology ◽

10.5912/jcb1005 ◽

2021 ◽

Vol 26 (4) ◽

Author(s):

Peter L. Molloy ◽

Lester W. Johnson ◽

Michael Gilding

Keyword(s):

Drug Development ◽

Global Financial Crisis ◽

Critical Mass ◽

Share Price ◽

Annual Growth Rate ◽

Compound Annual Growth Rate ◽

Listed Firms ◽

Investor Returns ◽

A recent study assessed the investor performance of the Australian drug development biotech (DDB) sector over a 15-year period from 2003 to 2018. The current study builds on that research and extends the analysis to 2020, using a 10-year period starting 2010, to exclude the impact of the global financial crisis in 2008/09. Based on a value-weighted portfolio of all 41 DDB firms, the overall sector delivered a negative annualized return of -4.1%. Individual firm performance was also assessed using the compound annual growth rate (CAGR) in share price over the period as a measure of investor outcomes. On this basis 68% of firms produced negative CAGRs over the period, and of the 32% of firms that produced positive CAGRs, six firms produced CAGRs greater than 20% per annum and in three cases of recently-listed firms, the CAGR’s were greater than 50%. Overall however, the sector overall delivered very poor investor returns and despite a relatively large number of listed biotech firms, Australian biotechnology continues to be small and weak in terms of its contribution to global biotechnology industrialization. As such it lacks the critical mass to grow a robust bioeconomy based on drug development, which remains the standard-bearer of biotechnology industrialization.