Economic Policy Practice Research Articles

Solidarity and Development: The OECD Technical Cooperation Committee in the Cold War

Abstract Since the first “development decade,” the OECD has played a key role in coordinating aid from Western countries to the Global South. Before that first decade, however, wide gaps in development separated its own member countries. Within it, therefore, a Technical Cooperation Committee (TECO) operated to provide knowledge and expertise to “intermediate development” Mediterranean countries. TECO, through a network of experts, concentrated and disseminated data, ideas, and economic policy practices to promote the “modernization” of countries not fully integrated into the international economic system and ruled by dictatorial or otherwise undemocratic regimes. On the one hand, the program concretized intra-European solidarity to spread economic development and prosperity; on the other hand, it allowed a close look at the reality of those countries. Then, beginning in the 1970s, reflecting the change in the prevailing economic culture, TECO incubated the guiding lines for the global public administration reform. This study reconstructs the history of TECO through documentation preserved in the OECD archives in Paris.

Formation of Economic Sovereignty of the Russian Federation: Regional Aspect

The relevance of the research topic is determined by the development and improvement of the state policy for the formation of economic sovereignty of the Russian Federation. The import substitution policy implemented in recent years has yielded positive economic solutions that make it possible not to experience a shortage of goods and production components. With the support of federal and regional authorities, the subjects of economic sovereignty formation (special economic zones, industrial parks, industrial and innovation clusters, etc.) are actively developing. Purpose. The main purpose of the study is to substantiate promising areas for ensuring the economic sovereignty of the Russian Federation in the context of the development of regional investment infrastructure. Objectives: of the study are as follows: substantiation of the directions for ensuring economic sovereignty, analysis and assessment of investments in fixed assets of the regions of the Central Federal District, study of the rating of the subjects of the Central Federal District in terms of investments in fixed assets. Methodology. The methodological basis of the study was the works of domestic scientists in the field of theory and practice of economic policy, economic regulation, and increasing the stability of the economy in the face of sanctions. The results of the study show that the most promising areas for ensuring economic sovereignty are the financing of infrastructure and high-tech industries, the development and support of industrial parks, industrial clusters, the development of investment activity, including through the support of large investment projects, and increasing the efficiency of investments in fixed assets. Conclusions. The results of the study show that the most promising areas for ensuring economic sovereignty are the financing of infrastructure and high-tech industries, the development and support of industrial parks, industrial clusters, the development of investment activity, including through the support of large investment projects, and increasing the efficiency of investments in fixed assets.

Updating the factors adjusting economic growth rate as interpreted by M. Kalecki

The main goal consists to update the factors correcting the economic growth rate by M. Kalecki, in the context of revisions to it made by K. Łaski. The author undertook a detailed analysis of both the original and the revised economic growth model. This enabled him to identify several problematic areas. On their basis, an attempt was made to present the final model of economic growth, which optimally describes the mechanism of GDP dynamics. Therefore, it seems that the thesis has been put forward that the economic growth rate, determined by the level of investment, is very realistically corrected by the degree of production capacity utilisation, the level of capital intensity and the level of organisational and production excellence. The conclusions drawn can be regarded as valuable for the practice of economic policy and economics as a science dealing with social and economic phenomena.

ГЛОБАЛЬНАЯ ТРАНСФОРМАЦИЯ СОВРЕМЕННОГО ОБЩЕСТВА И НАЦИОНАЛЬНЫЕ ЦЕЛИ РАЗВИТИЯ РОССИИ

The modern economy and society are in a state of crisis, which is linked to the exhaustion of the existing development paradigm based on the concept of "market fundamentalism". High rates of technological development and the transition to a new technological order exacerbate the contradictions of the existing social and economic organization, causing problems that can lead to a civilization crisis. It is necessary to develop new theoretical concepts that are adequate to the modern period of global transformations. The author shows that such concepts should be based on the theories of the New Industrial Society of the second generation and noonomy. Integration of the elements of these theories into the system of modern knowledge, as well as the implementation of their conclusions into the practice of economic policy will help to overcome existing problems and successfully achieve the goals of Russia's national development.

The Relationship of Economic Growth And Terrorism with the Human Development Index: A Causality Analysis on MENA Countries

Examining the human development of societies is one of the important economic policy practices of recent times. Therefore, economies steer the sub-components of human development and their policies implemented by researching the factors that affect such sub-components. In this context, the aim of this study is to examine the relationship between economic growth and terrorism with human development in 12 selected MENA countries in the period of 2002-2017 by the panel causality method. The findings obtained as a result of the panel causality analysis show that both terrorism and economic growth have bidirectional causality with the human development index throughout the panel. A causality relationship has also been found in many countries on a country basis

From Emerging to Developed Market: The Neoinstitutional Approach Based on the Case of Poland

Background. The issue of economic growth is still an important area of economic research. This topic is crucial for the economic sciences as well as for economic policy practice. Let this statement be the most important assumption in this arti­cle. Everything that happens in the economy concerns socio-economic phenomena. The main scientific problem comes down to the question of what is the role of in­stitutional factors in the socio-economic development of Poland? Research aims. The author set himself two main aims. The first aim is an at­tempt to present institutional determinants that affect the socio-economic devel­opment of the Polish economy. The second is an attempt to present the devel­opment of the Polish economy by setting it against the background of selected European countries. Methodology. This work uses a modified taxonomic development measure meth­od based on the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). The research was embedded in the current of new institutional eco­nomics. The concept of the institutional matrix was also used. Key findings. Analyses conducted have facilitated the creation of an overview of the socio-economic development of the Polish economy. This was illustrated by the average socio-economic development index (ASEDI). Taxonomic measures of development were also calculated for all 10 of the economies analyzed. The main research time horizon is 2008–2018. Part of the collected data enabled anal­ysis of the period 1995–2018. The results of research and analyses have shown that selected institutional factors significantly affect the final level and quality of socio-economic development of Poland in comparison with selected European countries.

Do Changes in the Economic Role of States through Privatization matter?: The Brazilian Case

In market economies, the subject of scientific research is the extent to which the state can contribute to the sustainability of development. However, the question is to know where the boundaries of the market and the role of the state lie. The study briefly introduces different views of the state's economic role and how states have changed the proportion of their entrepreneurial assets. Among these, it highlights privatization, which is one of the significant segments of today's economic policy practice at both micro and macroeconomic levels. It then describes Brazil's economic circumstances that led to the formulation of a proper size privatization program. Finally, the socio-economic factors that, according to the author, make the realization of Brazilian privatization plans uncertain presented.

Do Changes in the Economic Role of States through Privatization matter?: The Brazilian Case

In market economies, the subject of scientific research is the extent to which the state can contribute to the sustainability of development. However, the question is to know where the boundaries of the market and the role of the state lie. The study briefly introduces different views of the state's economic role and how states have changed the proportion of their entrepreneurial assets. Among these, it highlights privatization, which is one of the significant segments of today's economic policy practice at both micro and macroeconomic levels. It then describes Brazil's economic circumstances that led to the formulation of a proper size privatization program. Finally, the socio-economic factors that, according to the author, make the realization of Brazilian privatization plans uncertain presented.

Paradigms for structural growth and development in Italy: Pasquale Saraceno’s contribution to the theory and practice of economic policy

This paper aims to depict, through the interweaving of facts and theories, the debate in Italy on economic growth policies and on the consolidation of a mixed economy. By identifying and analysing significant phases, we will show that the theme of structural growth and economic development covers a broad temporal spectrum and reveals different positions on state capitalism. Pasquale Saraceno (1903–1991) was a key figure in shaping many of the significant phases of Italian economic policy, especially in the post-WWII period. He played a central role and provided important insights in the debates on the role of public companies and the emergence of a state-led market economy in the economic development process.

Behind the GDP: some remarks on the shadow economy in Mediterranean countries

It is common knowledge that in the past decades the focus on the shadow economy (SE) has increased and the range in the estimated size of this phenomenon is very divergent. The comprehensive coverage of economic production is important in order to ensure good quality of national accounts and exhaustive estimates of the gross domestic product. The purpose of this paper is to approach the SE by means of the latent variable method and the structural equation model–partial least squares and to explore similar behaviors in terms of the obtained results, by analyzing the subsamples of the countries under observation. Political measures need to be implemented carefully to counter the effects of the SE and policy-makers should have to adopt economic policy practices to drive the SE into the formal economy, particularly in less-developed countries.

Agency Theory, Values, and Early Evolutionary Economic Theory

Purpose: We address the 'economics/cross-cultural management interface,' showing that bi-polar value perceptions fit into an agency model of an economy. Design: Modern views of economic processes have moved away from the traditional view of closed systems, with a tendency to cite them as open and displaying agency characteristics. We apply a cybernetic viable systems approach to arrive at an agency economic model.Findings: Ideas of major economic thinkers are connected through our agency model to the work of major cultural theorists, giving the basis for a new economic paradigm.Research implications and limitations: The research shows that one can model interplay effects of social and cultural change with the economy in a way that is consistent with the Lucas Critique. Further investigation into views from economics and the variety of cultural dimension studies is needed. Practical implications: This exercise sheds some light on the roots of paradigm changes in economic history. Future studies may engage in research into the practice of economic policy making with a view to predominant values in a society, and in investigation into ‘paradigm wars’ in industry, finance, and across broad sectors.What is original/ what is the value of the paper? The deep linking of culture and economics into a cybernetic agency model is new.