The Political Economy of Crisis Recovery

The aftermath of the global financial crisis marked another stress test for welfare states and varieties of capitalism. More than ever before, governments were forced to consider substantial reforms to welfare provision and enact flexibility-enhancing measures in order to improve financial solvency and economic performance. The crash, however, was not only a regionally uneven process in its origins but also led to makeshift or uneven policy responses. As a result, the socio-economic effects of the downturn and political reactions to it varied considerably among countries. Nevertheless, there have been some common trends in outcome measures. These have served to blur the dividing lines between different welfare states and production systems, so vividly captured in the mainstream political economy literature.

State Capitalism in Belarus: Behind Economic Anemia

Belarus’ economic model looked rather successful in the late 1990s and in the 2000s with its economic growth above 7% per year. But during the last decade, Belarusian annual economic growth has fallen at the average level around 1% per year. This chapter reveals the rarely known case of state capitalism in this post-Soviet country with its specific indicators, and instruments behind economic anemia. It also outlines several traps on the way of Belarusian economic growth: “debt trap,” “middle-income trap,” “social burden trap,” “resource curse trap,” “conflict neighbors trap,” and “forceful pressure trap.” These pitfalls lead to the long-term economic slowdown in the Republic of Belarus. The consequences of such economic anemia bring to another discussion about the role of public values in support of state capitalism in Belarus.

Management of Tourism Crisis in the Middle East

This study looks for to recognize the realism of management of tourism crisis in Jordan (Amman Hotels’ Bombing case study). In order to show the role of the management and its effects in facing the tourism crisis in Jordan, the researcher will try to handle a group of points: finding a special concept for tourism crisis, crisis generative environment, management of tourism crisis, and studying Jordan management of the Hotel bombing in Amman. To clarify and achieve the objectives of the research, the researcher adopted the descriptive analytical approach to what is stated in the most important books and references Arab and foreign periodicals, statistics, and official reports relating to the ethics of the research. It is recommended, in this study, to provide training opportunities for all people who have a role in the management of tourism crisis especially in the communication sector, the massive presence of police in the tourism site, hotels, and all the tourism places under the condition of not being seen, and to provide the qualified policemen with modern defensive weapons.

Exploring the Three-Way Destination Safety Solution to Crisis Management in Tourist Destinations in Rural Nigeria

Development of tourist destinations is among topical issues in national discourse for economic growth and sustainability. The past two decades have witnessed massive development and investment in tourist destinations in rural areas. This is owing to the fact that rural tourism has been identified as among the development options for rural communities in most developing nations. Of recent, crisis and other safety issues have been among the militating factors against tourist destinations hence the cry for destination safety. These are said to emanate from the activities of the three major principals in the management of tourist destinations (hosts, tourism resources, and tourists/visitors). Incidentally, destination safety discourse is source of worry for these principal factors in tourist destination management. This has left many tourist destinations devastated, abandoned and abused. However, this chapter proposal would seek to identify the way out of this predicament. It tends to explore the meaning and application of the three-way destination safety (TWaDeSS) model in the management of crisis at tourist destinations in rural Nigeria. This will not only promote harmony among the three major principals in tourist destination but also enhance the rate of investment as a result of quality crisis control in these destinations.

Crisis Management and the Public Sector: Key Trends and Perspectives

A crisis is a situation approaching a dangerous phase, which requires urgent intervention to avoid harmful effects on the body of an organization in order to return to normal situation. It is a decisive and critical time for the organization, where the wrong decision can even cost its viability. This situation can shape political, legal, economic, and governmental impact on its activities. From different definitions of crisis, we seek to underscore key elements of a crisis that may threat a public organization and, also, to highlight both the elements of management responsiveness resulting in the loss of control in the organization, regarding the short time demand for decision-making. The key purpose of this chapter is to illustrate the basis available in the international literature, upon which public risk mechanisms can be reviewed and chosen in public sector organizations under the scope of their applicability.

Crisis Management in Nigeria’s Public Sector and the Impact of the Organised Labour Union: Interrogating the Nexus between Industrial Harmony and Political Stability

This study sought to explore the dynamics in managing crisis in the Nigerian public sector and its engagement with the organised labour, with a view to determining the interface between industrial harmony and political stability in the country. This study is predicated on the fact that crisis management is essentially embedded in humanity. Additionally, the study was informed by the established and widely held view by scholars, that social groups by their nature and context, are in fact characterised by conflicts. Consequently, the study established that the public sector in every society is not immune against conflict or crisis, and this will naturally arise as long as there is interaction between and among human elements in the two sectors. The author used the terms—crisis and conflict—interchangeably in the study, and pointed out that the methodology adopted was a descriptive and analytical approach. This is informed by the sources of information accessed which are essentially secondary. The study concluded by asserting that given the humanity-linked nature of conflict, its management in the public sector, particularly in Nigeria, will continue to be an unavoidable responsibility of the government. This is to ensure that the right environment is created to guarantee smooth governance.

Contagion, Exchange Rate, and Financial Volatility: Indonesian Case in Global Financial Turbulence

Global turbulence after the financial crisis has hit Indonesia and almost all emerging countries. Quantitative Easing (QE) normalization (tapering of) has caused the capital outflows from emerging countries. Trade war and increasing geopolitical tension together raise the pressure. Argentina and Turkey have been experiencing economic shock. Indonesia should identify the contagion possibility and refer to Thai baht contagion experience in 1997. This paper assesses the contagion, exchange rate, and financial volatility triggered by global turbulence and Argentina-Turkey crisis in 2018. We use vector autoregression (VAR), simple correlation, dynamic conditional correlation (DCC), and regression method. We will investigate the potential contagion both in stock and exchange rate markets and in the rupiah exchange rate determination from both contagion and fundamental factors regarding the balance of payment (BOP) condition. The empirical result shows the potential contagion from Argentina and Turkey’s financial crisis to the Indonesian economy, especially to the stock market and exchange rate. The regression and correlation result also shows that Turkey has a higher financial contagion effect than Argentina to Indonesian financial market. Balance of payment condition also has the significant effect to explain rupiah exchange rate depreciation.

The Police Development and Protection of Soft Targets

This paper describes the function and development of the requirements for modern and high-quality equipment and accessories and also equipment used by the specialized units of the police force of the ČR with a practical example. This is offered in the form of a draft requirement for a transport means – a multifunctional special vehicle, intended specifically to intervene in situations against demonstrators, extremists, and football hooligans. At the same time, this paper briefly describes the system of collecting information regarding other modern means used by other security forces and also those which are available on the market, which are then (if suitable and also upon experience from abroad) proposed for development and use under the conditions of the Czech Police practices.

Crisis Management and Communication Strategies: RUSAL’s Case

No company is immune to crisis situations, an affirmation which, despite its triviality, is undeniably true. However, from the early 2014, such statement may have become even more true to Russian corporations, as the annexation of the Crimean Peninsula gave start to rounds of economic sanctions that are still perpetrated today. Such measures, which were initiated in response to the Kremlin’s political maneuvers, have hit a number of Russian companies, and increased the degree of uncertainty in which they have to operate, as they see economic restriction’s impact not only on the business activity tangible factors—i.e., economic rewards, service, and performance—but also on intangible factors—i.e., image and reputation—as well. Crises are integral parts of all world systems, unfortunately. While they are a theoretically well-understood issue, in practice, crises are perceived as a very painful phenomenon. A crisis can be compared to riding a roller coaster. First, as we gain speed and climb up the tracks we are filled with a sense of joy and delight. These feelings are quickly replaced with anticipation, panic, and fear as the roller coaster plunges into the “abyss.”

Applying Monte Carlo Simulation in New Tech

Monte Carlo in Monaco is given to the theory for mathematics, whose simulation process involves generating chance variables and exhibiting random behaviours in nature. This simulation is a powerful statistical analysis tool and widely used in both non-engineering fields and engineering fields for new perspectives. This simulation has been applied to diverse problems ranging from the simulation of complex physical phenomena such as atom collisions, to the simulation of river boundary layers as meanders and Dow Jones forecasting. It can deal with many random variables, various distribution types and highly nonlinear engineering models, while Monte Carlo is also suitable for solving complex engineering problems in two areas which are varying randomly. Monte Carlo simulation is given as an application for hydrogen energy potential determination.