Economic Policy Reforms Research Articles

The Application of the Myers-Briggs Type Indicator to Human Resource Management System in China

Abstract: The Myers-Briggs Type Indicator has long been an important personality assessment instrument in human resource management. It helps managers to recruit employees, assign tasks, build employee relations and measure performance. With the economic reform and opening-up policy that accelerated worldwide coordination, it was introduced in China. The study, taking a literature review approach and comparative approach, aims to explore how the Myers-Briggs Type Indicator is used in Chinas human resource management system. And through the analysis of the development and status of Chinas human resource management, and the comparison with Self-directed Search and Big Five Personality Theory, to see if there is room for improvement in its use in the future. The result shows that most of the research and use of the Myers-Briggs Type Indicator in China is about recruiting. It can be developed in team building and performance evaluation in the future, like The Big Five Personality Theory. And also in assigning tasks.

Dynamics in the Impact of Entrepreneurship Orientation on Corporate the Moderating Role of Environmental Performance

This study examines the impact of environmental dynamics on the relationship between Entrepreneurial Orientation (EO) and corporate performance in the Malaysian aviation industry, specifically investigating the mediating effect of environmental performance. The focus is on the influence of technological advancement, economic policy reorientation, and political and security stability on EO, as documented by Hina et al. (2020) and Haider et al. (2017), in relation to business performance. Additionally, the study explores the effect of environmental dynamism on this relationship. A quantitative approach was adopted, collecting data from 100 staff members of three selected Chinese airlines. The findings show a high correlation between EO and variables such as technological innovations, economic policy reforms, political stability, and security. It is confirmed that environmental changes positively influence the relationship between EO and business performance. The results suggest that companies with a higher level of EO are more competent in managing technology, adjusting economic policies, and thriving in politically and security-stable environments. This study offers valuable insights for strategic decision-making in the aviation industry, emphasizing the importance of fostering entrepreneurial behaviour and adaptive capacities to enhance organizational performance within dynamic business environments.

Natural bedfellows: corruption, criminality and the failure of international reconstruction. A case study of the Kabul Bank

ABSTRACT Corruption remains a persistent feature in most transitional and fragile countries, raising questions around the processes and outcomes of international development and economic reforms. In the case of Afghanistan, conventional wisdom tends to blame domestic factors, including corruption, in the collapse of the internationally-backed Islamic Republic of Afghanistan, while largely neglecting the co-constitutive nexus between economic reconstruction, criminality, and political authority. Combining the political marketplace framework with a network analysis, this paper traces how a corrupt network formed around the Kabul Bank, grew and metastasised by leveraging neo-liberal and technocratic economic reform policies, and thus, gravely undermined the country’s governance and stability. By doing so, it argues that international reconstruction practices and resources reconfigured power in Afghanistan, and helped create a governance system governed by the logic of a criminalised political marketplace. The paper also demonstrates the utility of a political marketplace lens in explaining evolving political dynamics, with a network analysis to generate deeper insights into the complex interactions between the local and global dynamics that produce criminality, corruption, and state capture.

How does the domestic firm utilize spillovers from foreign suppliers in its post-absorption strategic development? A qualitative study in China based on the behavioral theory of the firm

Expanding upon the literature on foreign supplier’s spillovers, which predominantly adopts an economic lens and focuses on short-term effects on the domestic firm’s performance increases, our study employs the behavioral theory of the firm to investigate the long-term effects of these spillovers on the strategic development of domestic firms in the post-absorption stage. We conducted a case study of a Chinese distributor that grew into a diversified conglomerate over twenty years after absorbing spillovers from its dominant foreign supplier. Based on richly grounded data collected from this particular distributor firm, our findings reveal that these spillovers enhanced short-term performance and played a crucial role in guiding the firm’s search behaviors for recruiting new suppliers and entering new businesses over the long term. Moreover, we have identified search barriers imposed by the foreign supplier and local government that hindered the domestic firm’s search behaviors until economic reform policies were implemented.

Economic reform policies and their relationship to the structure of the trade balance and economic exposure in Iraq (2003-2021)

The distinctive feature of our contemporary world is the increase in proposals about economic reform, privatization, and globalization, and their importance and impact on economic development and on the future relations of countries in global economic activity. The importance of (economic reforms), which is being addressed by researchers and thinkers, and from many aspects, has increased, especially in the mid-eighties of the last century, and has accelerated in The nineties, and in the third millennium, because economic reform processes represent great importance in addressing the structural imbalances that affect the economies of different countries. The research aims to study and analyze the specificity of the elements of economic reform and the effectiveness of the economic mechanisms that will be applied in line with the reality of the Iraqi economy to improve the performance of the public sector and its management, streamline its structure and define its fields, develop institutional structures in Iraq, lift restrictions and activate the performance of market forces. As for the research hypothesis, it sought to prove that there is a statistically significant relationship between the economic variables represented by economic reform and economic exposure. The study reached many conclusions, the most important of which was a short-term indicative relationship between economic variables and economic.

Mapping Fiscal Research Trajectories through Bibliometric Analysis: Echoes of Global Crises in Central and Eastern Europe

Abstract World economies have faced numerous crises throughout history. Fiscal issues have accordingly become a crucial aspect of economic policy discussions, particularly in Eastern Europe, a region shown to be especially vulnerable to the recent economic shocks. The paper therefore aims to provide a bibliometric examination of trends in fiscal research via the lenses of major economic and financial crises. The bibliometric analysis is based on 6,640 documents published between 1970 and 2022 and indexed in the Scopus database. The results reveal that fiscal research associated with crises has grown sharply over time, with significant bursts one year following each major economic and financial crisis. The most cited journal articles in fiscal research highlighted the following issues in all countries, including Central and Eastern European (CEE) countries: economic reform policies (1970-1997), economic development and financial conditions (1998-2008), crises in Europe and post-crisis recovery (2009-2019) and post-crisis recovery and effects (of the COVID-19 pandemic) on the public and business sectors (2020-2022). As well as identifying key countries and journals, although diverging in approach and scope the findings show shared interests in macroeconomic policy, fiscal stability, and the impact of crises on economic performance and public finance. Developed countries have addressed complex global economic issues and advanced development, whereas Central and Eastern European nations have focused on the transition from planned to market economies. This observation reflects their distinct economic paths and fiscal research interests, as revealed in detailed content analysis by subperiods. The findings maybe of benefit for both the scientific community and evidence-based policymaking.

Perkembangan Bank Sentral : Status, Kedudukan, dan Tugas dari Bank Sentral

The role and function of Bank Indonesia as the central bank is crucial to revitalize the goal of maintaining and preserving the value of the rupiah, which is an important part of sustainable economic growth that will improve people's welfare. This goal is part of the economic recovery and reform policy that will help Indonesia get out of the middle economic crisis. The purpose of this study is to determine the development of the status, position, and duties of the central bank. This research uses the literature method. In 1968, Bank Indonesia's functions and responsibilities as the central bank began to diminish. In 1999, it was again responsible for safeguarding and maintaining the value of the rupiah. Its central bank work consists of three main pillars: setting and implementing monetary policy, maintaining a smooth payment system, and maintaining the stability of the national financial system. To improve people's quality of life, Bank Indonesia is also responsible for acting as a development agent.

Economic Institution, Religion, and Economic Development: Confucianism and Economy in Vietnam after The Implementation of the Doi Moi Policy

Among the three borderline Mainland Southeast Asian countries, located in the Indochinese Peninsula, Vietnam has the best economic performance, compared to Laos and Cambodia. The GDP per capita of Vietnam reached US$4,163 in 2022, which was two times higher than Laos and Cambodia. While economic reform policies, political and economic institutions, and colonial history, are similar in all three countries, why does Vietnam have better economic development? Researchers pointed out the economic factors, specifically the positive effects of economic reforms on economic performance. Nonetheless, it is not convincing, while the economic reform in all three countries emphasized property rights, and encouraged decentralization, privatization, and marketization. This study suggested the religious factor of Confucianism in Vietnam that reinforce the effects of economic institutions on economic development, which leads to greater economic performance. The Confucian characteristics of emphasis on saving, education, and following the government's instruction and policies, support the government’s economic reform, which is conducive to economic development.

Natural disasters, deforestation, and emissions affect economic growth in Somalia

This study ascertains the effect of natural disasters, deforestation, and emissions on economic growth in Somalia using annual time series spanning 1990–2018. Contrary to previous attempts, this study utilized the kernel regularized least squares (KRLS) technique, robust Granger causality in the presence of instabilities, and novel supremum right-tail Augment Dickey-Fuller unit root to test explosive behaviors in data series. While two date-stamped explosive behaviors are detected in economic growth (2003–2012, 2014–2016) and FDI (2004, 2016–2018), one explosive behavior is observed in capital formation (2010–2018) and population density (2010–2018). Moreover, time-varying granger causalities among sampled variables are observed. The empirical results show natural disasters and deforestation significantly undermine economic growth, whereas GHG emissions stimulate economic growth. Besides, while GHG emissions have increasing marginal effects, natural disasters and deforestation have decreasing marginal effects. The marginal effect of the interaction between natural disasters and temperature change is close to zero, implying that temperature changes do not mediate the disaster-growth nexus. Nevertheless, the study underscores the need for the implementation of environmental and economic policy reforms related to natural disaster preparedness, eliminating deforestation for charcoal exports while implementing a paradigm shift from domestic charcoal and firewood energy consumption to clean and renewable energy.

Role of the government towards stock markets and carbon emissions: evidence from wavelet approach.

The government of any country can play a great role in promoting economic and environmental policy reforms in both normal and crisis periods, but during the crisis period, the role of the government should take the economy into a recovery position. The stock market is the backbone of the financial system that needs the government's attention, especially in the period of financial stress and environmental protection is the responsibility of every economy to live in a healthy environment. Combining this motive, this study analyzed the role of the government towards the stock market and carbon emission by using different approaches, including the wavelet approach, OLS regression, and the Granger causality test. The wavelet approach is useful for analyzing the role of the government at different time intervals by using the time horizon from 1993 to 2021. World governance's six indicators in terms of voice and accountability, control of corruption, rules of law, regulatory quality, political stability, and government effectiveness are used as the proxy for the role of the government. Our findings show that all WGI indicators have a positive relationship with the stock market of Malaysia except voice and accountability while concerning voice and accountability, the role of the government of Malaysia is negative on the stock market. Similarly, our findings also show that the effective government governance mechanism through WGI indicators has a significant positive impact on CO2 emission due to industrialization. Furthermore, findings of the Granger causality test reveal that all the WGI indicators cause to stock market of Malaysia, and political stability has bi-directional causality indicating stock market index is also a factor that caused the political stability within Malaysia. In the Granger causality results of the CO2 and WGI indicators, there is unidirectional causality found between rules of law and regulatory quality with CO2 emission. This study advocated strong implementations for the investors for investment decisions in effective governance countries and implications for the government to remove their weakness by making effective governance related to the economy and as well as the environments within the country.

The Role of Private Investment and the Relationship between Monetary Policy and Economic Growth in Nigeria.

Despite government initiatives and policy reforms promoting private investment, such as the Structural Adjustment Programmes and various economic reform policies, Nigeria has experienced minimal improvement in private investment indicators, with the share of private investment in economic growth fluctuating over the years, characterized by intermittent increases and declines. Thus, the study investigates the role of private investment and the relationship between monetary policy and economic growth in Nigeria. The study utilized secondary data obtained from the Central Bank of Nigeria through an ex-post facto research design spanning from 1985 to 2022. Employing an autoregressive distributed lag model, which includes an error correction mechanism and cointegration test, the analysis examined variables, revealing that private investment mediates positively in the relationship between monetary policy and economic growth in Nigeria. The findings underscored the significant impact of private investment on the nexus between monetary policy and economic growth, suggesting policy recommendations including incentivizing private investment through the removal of capital controls and investment regulations, reducing or eliminating taxes and regulatory burdens, and fostering a supportive environment for business creation.

Neophodan nivo investicija za ubrzani privredni rast - stilizovane činjenice i politike

To close the gap in economic development relative to the EU average, Serbian economy has to achieve significantly higher growth rates in comparison to other European countries over the longer period. Theoretical and empirical literature indicates that the level of investment in physical capital is one of the key determinants of the dynamics of economic growth. In this paper, based on data on investments and savings in Serbia and in 37 countries that in the previous three decades achieved an average GDP growth rate of over 5% per year (so-called fast-growing economies - FGE), we present and analyze relevant stylized facts. In the observed period, FGE had average total investments of 25.6% of GDP, of which 69% was private and 31% public investments, whereby private investments were predominantly domestic, which is associated with a high rate of gross domestic savings (of 27.4% of GDP). On the other hand, total investments in Serbia were 9.7% of GDP lower than the FGE average, which was a consequence of significantly lower public and domestic private investments, which was, among other things, a consequence of significantly lower domestic savings (by over 20% of GDP). As in the recent period there has been a noticeable increase in public investments in Serbia, in order to accelerate economic growth, it is necessary, in addition to maintaining them at a high level, to encourage a considerable increase in domestic private investments through economic measures policy and wider reforms of the general institutional environment, with the aim of having the total level of investments of over 25% of GDP over the next few decades.

Explaining geographic, social, and economic differences as drivers of internal migrations in Viet Nam: Empirical findings from push and pull forces analysis

Viet Nam has deeply experienced internal migration during its development history, typically movements from rural to urban and across regions since the launch of economic reform policy in 1986. This article adopts the cost-minimization approach to calculate the push and pull forces of the internal migrations across geographic distances of provinces and then explains those forces along with socio-economic factors within 63 provinces and cities in Viet Nam based on the census data during the period 2010-2019. The empirical findings from the solution to cost-migration equations between the number of migrants and the inverse distance across 63 provinces reported that the push and pull forces are quite heteroskedastic, mostly due to differences in geographic, social, and economic development. Not surprisingly, the Mekong River Delta (MRD) is still the most repulsive region for migrants, accounting for 30% of the total number migrants of the country and notable 98% of migrants who moved to the Southeastern (SE) region as the most attractive destination. It is obviously proven that the push and pull forces of migrations in a province correlate strongly and significantly with economic factors including relative incomes and poverty rate rather than human factors such as urbanization, population, and labor forces. Finally, discussions about policy implications of equitable investments across regions in Viet Nam are really necessary and could be a potential for creating job opportunities and improving standards of livelihoods.

Structural Reforms and Elections: Evidence from a World-Wide New Dataset

Abstract We present two new databases we have constructed to explore the electoral consequences of structural economic policy reforms. One database measures reforms in domestic finance, external finance, trade, product, and labor markets covering 90 advanced and developing economies from 1973 to 2014. The other chronicles the timing and results of national elections. We find that liberalizing reforms are associated with economic benefits that accrue only gradually over time. Because of this delay, liberalizing reforms are costly to democratic incumbents when they are implemented close to elections. Electoral outcomes also depend on the state of the economy: Reforms are penalized during contractions but are often rewarded in expansions.

Research on Ways to Ameliorate the Degree of Peoples Euroscepticism after the Brexit Referendum

After the Brexit referendum, some scholars predicted it could have a demonstration effect, leading to increased public skepticism towards the European Union (EU). In response to this challenge, EU countries have implemented a series of reform measures, which have proven to be effective, but with varying degrees of success. Previous research mainly focused on the impact of Brexit on the EU and the countermeasures taken by the EU, without a deeper study of which combination of reform measures is more effective. This paper conducts a qualitative comparative analysis of the various reforms implemented by EU member states. The results show that the most effective combination of measures consists of three parallel causal paths: effective promotion of EU citizenship, effective economic policy reform, and reduction of social welfare; effective promotion of EU citizenship, increased awareness of hate speech and other extremist discourse through education, increased support for refugees and ethnic minorities, and strengthened social media regulation; effective promotion of EU citizenship, promotion of cultural understanding through education, increased support for civil society organizations against extremism, and effective economic policy reform. Effective citizenship reform presents to be a necessary condition. The paths to reducing public skepticism towards the EU are diverse, and effective economic policy reform, strengthened social media regulation, and promotion of cultural understanding through education are all more effective in increasing public trust in the EU.

Can the deregulation of market access reduce the cost of corporate debt financing: A quasinatural experiment based on the “negative list for market access” pilot project

Based on the quasinatural experiment of implementing the “negative list for market access” pilot project in batches in different provinces of China from 2016 to 2017, we use the difference-in-differences (DID) method to test the impact of the deregulation of market access on the cost of corporate debt financing. Our results show that (1) the deregulation of market access can significantly reduce the cost of corporate debt financing; (2) the mechanism test shows that the mechanism for reducing the cost of corporate debt financing is to reduce transaction costs; (3) the implementation of the pilot project has a significant effect on reducing the debt financing cost of companies in regions with low marketization degree of credit fund allocation or of non-SOE firms; (4) after implementing the pilot project, the proportion of corporate debt financing in total financing increased. Deregulating market access is an important part of supply-side structural reform (in short, supply-side reform), an economic policy reform in China starting in 2015. This research enriches the literature on the “cost reduction” of China's supply-side reform.

PROMOTING FDI IN A TRANSITIONAL CUBAN ECONOMY: ASSESSMENTS POLICY AND PRACTICAL PERSPECTIVE

Foreign direct investment (FDI) always plays a vital role in the economic development of every country, especially in developing countries. Cuba has continuously reformed its economic policies and legal environment to attract FDI. Cuba's efforts have been implemented since the collapse of the Soviet Union and the socialist system in Eastern Europe in 1991. However, these efforts have only really achieved encouraging results since then. The 6th Congress of the Communist Party of Cuba in April 2011 made many groundbreaking decisions in economic reform policies. This article analyzes Cuba's potential to attract FDI since the 6th Congress of the Communist Party of Cuba, which emphasizes essential policies and legal adjustments to attract FDI to Cuba.

CHALLENGES OF ENTREPRENEURSHIP DEVELOPMENT IN EUROPE IN THE LIGHT OF THE PANDEMIC CRISIS

The paper aims to perform an objective comparative analysis of the business climate for entrepreneurship development in European countries in 2021 and group them according to the quality of the business climate. The research uses thirteen criteria from the Global Entrepreneurship Monitor report and TOPSIS methodology combined with entropy to perform a comparative analysis of the business climate for entrepreneurship development in selected European economies in 2021. Usage of TOPSIS and entropy method based on the last available data enabled objective and the most accurate evaluation and ranking of countries, taking into account all observed criteria. According to the study, the ranking of European economies indicates that the Netherlands has the most favorable business climate for entrepreneurship development, considering all observed criteria, while Belarus is ranked in the last position. According to relative closeness to the ideal solution (Ci*), the four clusters of countries are derived. Besides the Netherlands, Lithuania, Norway, and Finland were also dedicated to the first cluster, indicating that these economies obtained the most favorable conditions for entrepreneurship development during the pandemic crisis. On the other hand, former command economies and Greece and Cyprus are placed in Cluster IV since they haven’t supported entrepreneurs with sufficient and appropriate economic policy and regulatory reforms.

Neoliberalism, ‘honour’-based regulatory frameworks of accounting and accountability in a social context: An examination of the role of accounting in the management of subsidies on petroleum products in Nigeria

Nigeria subsidises the cost of petroleum products for its citizens, but corruption means that the cost is rising and to maintain the subsidy, Nigeria has sought financial support from international financial institutions, such as the World Bank and International Monetary Fund. However, this support is contingent on neoliberal economic policy reform, in which the World Bank calls for the removal of petroleum product subsidies and the implementation of Western ‘honour’-based regulatory frameworks, that is, International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS), to improve transparency and accountability. Considering endemic corruption in the Nigerian cultural and socio-political context, where political elites can override any rule and politicians, public officials, and professionals can intentionally manipulate accounting records, we examine the limits of governance/accounting frameworks and explore the boundaries of accountants’ oversight function. In particular, we discuss the impact of ‘honour’-based regulatory frameworks, such as IFRS and IPSAS, on transparency and accountability in the Nigerian oil and gas sector and in the government subsidy programme. This study challenges the neoliberal assumption that Western ‘honour’-based IFRS and IPSAS, widely adopted in developed countries where fraud is rare, can improve transparency and accountability in developing economies like Nigeria, where corruption is endemic.

“Competitive Rent-Seeking” in the Kim Jong Un Era of North Korea

This article presents the “Competitive Rent-Seeking Model” that accounts for how reform policies paved the way for sustainable economic growth in “authoritarian transition economies” despite widespread corruption. Competitive rent-seeking refers to the process whereby the entry barrier to rent-generating economic activities, once monopolized by a small number of vested interests, has been lowered inviting more potential rent-seekers into the system. This was accomplished by enacting decentralizing and market-friendly reform policies that in turn exacerbated corruption but boosted production efficiency leading to improved social welfare. The model is exemplified by the Chinese and Vietnamese experiences during the 1980s. Furthermore, this article demonstrates that the model is applicable to the North Korean economy under Kim Jong Un’s economic reform policy of the “Socialist System of Responsible Business Operation in Economic Management” initiated in 2014.