Why stablecoins fail: design fragilities, regulation, and the role of institutions

Problem setting. The current state of affairs in society requires increased attention to the protection of human and citizen rights and freedoms. Martial law, as a legal regime, causes significant changes in the functioning of state institutions and society in general, endangering the basic rights and freedoms of citizens. Under such circumstances, it is especially important to develop and implement innovative approaches to ensuring the protection of human rights, which would take into account the specifics of the state of war and, at the same time, act as guarantors of compliance with the basic principles of the rule of law. This requires not only the reform of the legislation, but also the introduction of new technologies and methods that will allow more effective protection of citizens’ rights even in difficult conditions. Innovative approaches should be based on an increased level of awareness and training of both state bodies and civil society regarding mechanisms for the protection of rights in wartime. Analysis of recent researches and publications. Important aspects of the issue of innovative approaches to the protection of human and civil rights and freedoms have been studied by R. Shai, S. Husarov, O. Gilyaka, V. Kovalenko. However, despite the considerable experience in this area, the issue of introducing innovations to protect human rights and freedoms has not been fully explored. Purpose of the research is a comprehensive study of the features of innovative approaches to the protection of human and citizen rights and freedoms under martial law. This involves an analysis of the latest technologies, legal mechanisms and organizational solutions that can be effectively used to protect civil rights in emergency situations. In addition, the article examines the challenges and prospects of implementing these innovative approaches in the context of Ukrainian realities, in particular, taking into account socio-economic and legal aspects. Article’s main body. The research materials are: 1) normative and legal support for the protection of human and citizen rights and freedoms under martial law, including international conventions, domestic laws and by-laws; 2) works of domestic and foreign authors who conduct scientific and practical research in the field of human rights, innovative technologies and methods of protecting rights in armed conflicts. In the research process, the following scientific methods were used: theoretical generalization and grouping – to characterize the components of the system of protection of human and citizen rights and freedoms in the conditions of martial law and functions related to ensuring security; the method of formalization, analysis and synthesis – for the study of the domestic and the needs for the protection of rights in the conditions of martial law; comparative analysis – to develop different strategies and approaches to the protection of human and citizen rights in the conditions of martial law. The generalization of the results was used to formulate conclusions and develop recommendations for improving the system of protection of rights and freedoms in similar conditions. Conclusions and prospects for the development. The protection of human rights under martial law is a complex and multifaceted task that requires an integrated approach, including legal, administrative and socio-economic processes. The war caused and continues to cause a lot of grief, destroying everything in its path, the most valuable of which is human life and health. The main goal currently remains the issue of effective protection of a person and a citizen from external dangers lurking in modern Ukrainian society. This study aims to analyze approaches to the protection of human rights under martial law, determine their effectiveness and outline ways of improvement. Special attention is paid to the study of international experience and the possibility of its adaptation to modern Ukrainian conditions. As a result, it is planned to develop recommendations for the implementation of innovative approaches that will contribute to strengthening the legal protection of citizens in the conditions of martial law, increasing the level of their security and well-being.

PurposeThe purpose of this study is to identify the impact of legal institutions and property rights protection on corporate innovation among developing countries.Design/methodology/approachTo testify these hypotheses, we use firm-level data from the World Bank Enterprise Survey, and country-level information from Worldwide Governance Indicators, World Development Indicators and Global Competitiveness Reports. The final data set consists of 24,166 firm observations, from 41 developing countries.FindingsBy using a wide range of control variables, the results propose that well-organized legal institutions stimulate corporate innovation . More precisely, a strong rule of law, effective government and protected property rights encourage firm-level innovation. Countries’ rule of law guarantees to solve disputes between parties and provide legitimate rights in case of innovation replication. Rule of law also directs that rules made by policymakers to secure the rights of innovators are well enforced. Moreover, strong property rights ensure innovators that the innovations are protected, and in case of any infringement, the guilty party will be punished and fined.Originality/valueThis study aims to investigate the role of all effective aspects legal institutions and property rights protection on corporate innovation among developing countries. Such security to prevent unlawful duplication will ultimately increase innovation.

Introduction. Adoption of new laws of civil and substantive law, the novelty of legal relations governed by the rules of these laws, the complexity of civil conflicts arising from these legal relations, require a high level of legal protection, compliance with the rule of law by all members of society. Only the law allows interested parties to choose the form of protection. This form can be traditional – jurisdictional (provides for the establishment of a body and procedure for the protection of violated rights), and non-jurisdictional (but certainly allowed by law), which may resort to interested parties. obstacle to the exercise of the right. Resolution of legal conflicts is possible not only through a jurisdictional form of protection. A non-jurisdictional form of protection of civil rights is the independent protection of a person of his violated rights. That is, the person does not apply to the competent state authorities. In fact, it is the commission of actual actions aimed at protecting and securing their personal property and other non-property rights. The purpose of the paper is a thorough study of models of non-jurisdictional protection of property rights in the system of protection of civil rights by analyzing the theoretical and practical aspects of using alternative methods of protection of private rights in general and mediation. Result. It is determined that the non-jurisdictional form of protection of civil rights is the actions of citizens and organizations aimed at protecting their own civil rights, freedoms, and legally protected interests. It is noted that these actions are carried out and implemented by eligible entities independently, without seeking legal assistance from government agencies and structures, as well as officials. It is determined that the mechanism of legal protection is implemented in non-jurisdictional ways in the field of legal regulation when it is necessary to overcome and eliminate obstacles that arise in the exercise of rights and legitimate interests of the subject of law, in other words – to quickly protect (ensure) legal status. It is determined that in international practice, namely in European countries, the basis of non-jurisdictional protection of property rights is mainly in the use of negotiation and mediation procedures. Non-jurisdictional form, which is usually local in nature, is achieved as a result of actual actions, occurs not in jurisdictional or procedural forms, but within the protected substantive legal relations, which are the subjects of such legal relations (usually imply The main difference between jurisdictional and non-jurisdictional forms of protection of rights is that the protection of rights in jurisdictional form is carried out by the competent state and public authorities with each of them a certain procedural order of activity, while protection in a non-jurisdictional form takes place within the framework of a substantive legal relationship and is carried out by the parties themselves in the legal relationship. Conclusion. The study proves that in Ukraine, priority should be given to the development of various forms of out-of-court dispute resolution. The basis for this should be the legislative consolidation of out-of-court settlement of civil disputes as one of the basic principles of protection of violated private rights (of course, without revoking or replacing the right to judicial protection). Non-jurisdictional methods of protection of private rights are defined in the legislation of Ukraine and can be used due to the dispositive nature of the civil law method of regulation. However, this is insufficient, as participants in civil legal relations in case of violation of their rights are primarily confronted in the law with a defined right to judicial protection of violated rights, and often consider the court as the only possible form of protection.

Introduction. International acts on sustainable development and human rights protection and promotion reveal interconnection between sustainability of development and protection of indigenous peoples’ rights. As the two concepts, that of sustainable development and that of indigenous peoples’ rights, are reflected in international law acts, their study in terms of international law science is necessary. The study is aimed to define theoretical bases and timely issues of international law coverage of sustainable development of indigenous peoples..Materials and Methods. The study covers universal and regional (these of Arctic and America) international acts concerning sustainable development and protection of human rights. Works of specialists in international law and other humanitarian sciences dedicated to protection of indigenous peoples’ rights and sustainable development serve as its theoretical basis. The authors stick to system approach in their analysis of the concepts studied in terms of international legal science. Alongside with common scientific methods, they apply special methodology of legal science.Results. Application of historical and comparative legal methods to the international acts on sustainable development and protection of human rights allowed the authors to reveal three major trends. The fi is recognition of indigenous peoples’ right to development and enjoyment of the virtues of sustainable development by the international community. The second one is the direct connection between protection of indigenous peoples’ rights and sustainable development. The third trend consists in recognition of the contribution of indigenous peoples to sustainable development by the international community. Using complex and system methods in studying those tendencies revealed the timely theoretical issues of maintaining sustainable development of indigenous peoples.Discussion and Conclusions. Ensuring sustainable development of indigenous peoples is impossible without a review of the philosophical framework of the concept of sustainable development taking into account visions of those peoples. Protection of indigenous peoples’ rights directly influences their ability to enjoy virtues and contribute to sustainable development. Ignorance towards indigenous peoples’ rights and legal interests results in prejudice to those peoples caused by activities aimed to achieve the sustainable development goals. Modern sustainable development agenda doesn’t take into account a number of possible spheres of cooperation between indigenous peoples, civil community and state in the field of sustainable development.

Elaborating a Climate Change-Friendly Legal Perspective for the ECB

The article under studies analyzes the legal nature of disputes in the field of social protection, as well as outlines their peculiarities and mechanisms of resolution. It points out that the modernization of the system of social security is indispensably related to the modernization of the model of protection of the right to social security. Particular emphasis has been laid on an increase in the proportion of disputes regarding the protection of social human rights, which has been stipulated by a number of objective factors. There is an urgent need for effective protection of the right to social protection under martial law, which leads to an increase in both the number of various types of social security ensured by the State and the number of their eligible recipients. Undoubtedly, the model for resolving such disputes requires certain modernization, in particular, with due regard to the recommendations of European institutions. As a result, it should ensure access to justice and guarantee an effective mechanism for restoring violated (disputed) social rights. The right to a fair trial is enshrined in the Convention for the Protection of Human Rights and Fundamental Freedoms of 1950, thereby guaranteeing the right of everyone to a fair and public hearing within a reasonable time by an independent and impartial tribunal. The article substantiates the fact that disputes in the field of social protection have a special subject composition, where, on the one hand, there is a subject of authority, and, on the other hand, an individual whose subjective right has been violated (or not granted). This is a private right of a person to receive a particular type of material support or social service. Consequently, a dispute in the field of social protection has a dual legal nature – on the one hand, it is based on the public and private interests of a subject authority, and, on the other hand, on the private interest of an individual. The article emphasizes that the rule of law should become the defining principle in the process of resolving disputes in the field of social security. This will provide for judicial protection of social rights, access to justice, and fairness of social dispute resolution. Access to justice is an important condition for ensuring the protection of social human rights. In addition, the article justifies the expediency of exempting certain categories of the population, who find themselves in difficult socially significant circumstances (families with children, low-income families, homeless minors, single persons in the absence of persons legally obliged to support them, homeless persons), from paying court fees in cases involving violation of their social rights. It points out that the formation of a system of specialized social courts in Ukraine at this stage seems premature and unreasonable, since it may lead to difficulties in determining the jurisdiction of a dispute and to discrepancies in the resolution of disputes by different courts. There is also a lack of necessary financial and material maintenance for the operation of social courts, training of qualified judges, etc. The article identifies the basic peculiarities of disputes in the field of social protection in the following way: a special dual legal nature of the dispute; clear definition of the procedure for resolving within the framework of administrative proceedings; simplified procedure for consideration; application of the mechanism of immediate enforcement of a court decision in the course of hearing of certain categories of cases.

Achieving climate sustainability in the Republic of Congo: The role of economic growth, biomass energy consumption, rule of law and government effectiveness- a NARDL Approach

This paper examines whether economic freedom matters to inward Foreign Direct Investment in Sub-Saharan Africa. A key contribution of this study is that it uses disaggregated measures of economic freedom from the Heritage Foundation and the Fraser Institute to unveil which components of economic freedom matter for inward FDI in a sample of 40 SSA countries during the 1997-2016 period. The estimation is done using panel data models with fixed and random effects. The results indicate that higher overall economic freedom is a key determinant of inward FDI in SSA. However, there is clear evidence that it is regulatory efficiency (business, labor and monetary freedom), fiscal freedom (low tax burden), market openness, market size, trade openness, and strong telecommunications infrastructure that are the key factors in attracting FDI in SSA. While monetary freedom (price stability) is important, financial freedom (banking and financial sector independence) or investment freedom seem less critical. Results on trade freedom suggest that SSA tends to attract tariff-jumping and efficiency-seeking FDI. There is no consistent evidence that stronger rule of law and property rights really matter for inward FDI in SSA. It appears that FDI tends to flow to SSA countries that have lax property rights protection.Keywords: Foreign Direct Investment, Economic Freedom, Sub-Saharan AfricaJEL Classifications: C33, F21, O43, N27DOI: https://doi.org/10.32479/ijefi.9597

We investigate the impact of national innovation systems (NIS) on corporate intangible investment, which is a crucial factor in economic growth and sustainable development. Using a comprehensive international sample of 25,974 firms from 77 countries during 2011–2019, we find a positive impact of NIS on corporate intangible investment and corporate intangible value growth. Our results suggest that governments can stimulate growth in intangible assets at the firm level by fostering innovation at the national level. The impact persists in different components of NIS, including human capital and research, infrastructure, technology and creative outputs, and business and market sophistication. Further analysis suggests that the impact is more pronounced in small firms, firms with high growth, and firms depending more on intangibles. At the macro level, the effect of NIS seems to be largely stronger in developed countries, weakened under income inequality while being supported by a younger workforce and strong rule of law. Our findings have practical implications for policymakers regarding how national innovation forms corporate intangible asset growth and contributes to sustainable economic development.

Reserve Requirements for Price and Financial Stability - When are They Effective?

The article examines the evolution of the constitutional and legal regulation of human rights in Ukraine in the context of the development of political systems - from the Marxist-Leninist type to the free European one. It is emphasized that, despite the positivist position on the interpretation of human rights, the ideologues of the modern state interpret it and law, as well as other social phenomena, through the prism of new idealistic concepts. In their opinion, the legal act synthesizes the state will, which is reflected in the legal norm and is obligatory for the competent body applying this norm. Subjective right of a person is interpreted as a measure of possible behavior, devoid of class features. It is emphasized that the Constitution of Ukraine declares the highest social value of a person for his life and health, honor and dignity, inviolability and security. It is stressed that the establishment and protection of human rights and freedoms is the main duty of the state. Thus, according to the constitutional norms, the state is not a passive observer of the realization of the rights and freedoms of citizens, but an active participant in their protection. The existence of state control over the observance and protection of individual rights and freedoms (activities of the state apparatus in the field of protection of rights) and public (control over the redistribution of social space between the state and civil society, coverage of problems between the state and citizens; control over the responsibility of the constitutional state before civil society) is examined. Emphasis is placed on the unity between state and public control over the implementation of social tasks, the effectiveness of social policy and, consequently, the effective protection of the rights, freedoms and legitimate interests of the individual. It is stressed that the shortcomings of law enforcement practice, insufficient protection of individual rights by the state arise for a number of objective reasons.The annual reports of the Verkhovna Rada of Ukraine Commissioner for Human Rights on the observance and protection of the human rights and freedoms of citizens of Ukraine are based on these phenomena. The documents show shortcomings in the protection of all categories of rights and freedoms by public authorities. The author emphasizes that an important factor in the effective functioning of the rule of law is the filling of state-power relations with real legal mechanisms. Real protection of human rights and freedoms is possible if all levels of public power are involved in improving the constitutional order. The number of reforms should be combined with their quality content.

This article seeks to understand how China has managed to achieve such high rates of growth over the past four decades despite the absence of a veritable rule of law. A large body of research suggests that a strong rule of law is a key prerequisite for sustained economic development, but China's unique political economy which vests limited power in its judiciary seems to defy conventional wisdom on this count. Taking as a starting point Yang Yao's concept of ‘disinterested government’, that is, a government that eschews differentiated interests within a society in favour of a concerted focus on national development, the authors examine the mechanisms by which Chinese leadership has maintained extraordinary growth without the benefit of the rule of law. Specifically, this article argues that the defining features of a disinterested government fulfil many of the same roles as the rule of law from a developmental perspective.

This article investigates the relationship between regime characteristics and the likelihood of chemical, biological, radiological, and nuclear (CBRN) terrorist incidents. Odds ratios establish that democratic ideals—democratic rule, strong rule of law, and honest regimes—are associated with more CBRN incidents. Failed states may be where some terrorist groups form or take refuge, but these states have not been the venue of choice for CBRN incidents. Religious (cults and fundamentalists) and nationalist/separatist groups are not more likely than others to engage in CBRN attacks. To date, indiscriminate CBRN attacks are as likely as discriminate attacks to cause casualties. Transnational terrorist groups are less adept than others in concealing their acquisition of CBRN substances. For some regressions, democratic rule and strong rule of law are positive determinants of CBRN incidents.

The article examines the issues of the current state of regulatory regulation of the right to housing, substantiates the complex nature of this right, the protection of which is possible only by joint means of constitutional, criminal, administrative, civil and housing law. The need for an urgent update of specialized housing legislation is emphasized, in particular the development and adoption of the Housing Code of Ukraine, which would correspond to the current conditions of the socio-economic and political development of our country. One of the most important tasks that needs to be solved in the new Housing Code of Ukraine is the problem of a terminological nature, which is expressed in the need to define the very concept of “housing”, the absence of which leads to violations and abuses by the public authorities. No less necessary is the problem of clearly regulating the concepts of “social housing” and “official housing”, which also require improvement of the mechanisms for their implementation and protection. The positions of the judiciary regarding the protection of the right to housing are analyzed on the basis of individual decisions of the Constitutional Court of Ukraine and the Supreme Court, which makes it possible to ascertain the approximation of national judicial ractice in this field to the relevant international standards. The article demonstrates that the constitutional-legal mechanism for the protection of the right to housing has a complex nature, which is why it cannot be reduced only to the protection of property rights by civil law means. We consider the right to housing one of the basic natural human rights, which consists in the ability to have one’s own space for a dignified existence, inviolable from other subjects. Based on the analysis of the latest trends in judicial practice in Ukraine, it has been proven that international, in particular, European standards have a significant influence on national judicial practice regarding the protection of the right to housing, as well as the active application of the principles of nondiscrimination, the rule of law and the priority of human rights over the interests of the state in this area.

This policy brief highlights why democracy is essential for achieving inclusive and sustainable social development and shared prosperity. Drawing on new findings from International IDEA’s Global State of Democracy Indices and scholarly evidence, it shows that democracies consistently outperform non-democracies on welfare, equality and corruption outcomes, and that strong rule of law, representation, electoral integrity and rights protections are key pathways linking democratic governance to shared prosperity. As the 2025 Doha Declaration renews the global commitment to people-centered development, the brief argues that democracy must be treated as a development imperative. It outlines actionable recommendations for enhancing delivery and rebuilding the social contract while protecting rights and strengthening rule of law to ensure that democracy delivers tangible progress for all.