Economic Restructuring Research Articles

Revisiting the determinants of tax revenue: an integrative model with conventional, economic policy and institutional factors

PurposeThe Indian government is grappling in generating sufficient revenue resources through taxation to meet their expenditure on public goods and services. Therefore, the government authorities must possess adequate information on factors affecting the taxation revenue of the country to craft and execute policies effectively. Hence, this study endeavors to explore the determinants of tax revenue by incorporating conventional, economic policy and institutional factors.Design/methodology/approachThe study employed the Auto Regressive Distributed Lag (ARDL) modeling by using the data set from 1991 to 2022 according to the availability of the data.FindingsThe findings illustrate that trade openness, life expectancy, value added by the manufacturing sector and per capita GDP (Gross domestic Product) positively affect the tax efforts of the government in the conventional determinants. Similarly, in economic policy factors, the financial deepening also exhibits a favorable effect. Conversely, the inflation rate positively boosts the tax efforts in the short run, but it ultimately erodes the tax effort of the government in the long run. In the institutional factors, the official development assistance also illustrates a positive effect.Practical implicationsThe findings assert that the Indian government should devise better macro-economic and foreign trade policies with expediting the economic restructuring and bolstering their ability to manage and utilize the foreign aid assistance to boost the tax revenue of the country.Originality/valueTo the authors’ knowledge, this is the first study to incorporate these factors in the Indian context.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-04-2024-0314

Communist Ideals to Capitalist Realities: Uncovering Kerala Model’s Struggle with Foreign Aid(ed) Dependency and Disempowerment of the Marginalized

This article analyses Kerala’s development model through dependency theory, highlighting its reliance on foreign aid and consequent policy constraints. It examines how tied loans eroded Kerala’s policy autonomy and social model, disproportionately affecting marginalized groups. The state’s financial crisis and strained central relations led to accepting loans with neoliberal conditionalities, undermining welfare policies. Using the World Bank-funded Jalanidhi project as a case study, it contextualizes Kerala’s aid dependence within global capitalism, where aid often acts as “euphemized domination.” It reveals the model’s vulnerabilities, interlinked with exploitative global relations, and advocates for economic restructuring fostering self-reliance and people-centered development.

Pathways to corporate green technological innovation: An analysis from the perspective of dynamic capabilities

Green technological innovation has become a pivotal tool for driving economic restructuring and achieving environmental sustainability. However, in the face of complex and volatile market and policy environments, a critical question remains: how can enterprises effectively select and implement innovation pathways to address environmental turbulence? Drawing on data from 14,751 Chinese listed companies from 2012 to 2022, this study employs dynamic capabilities theory and a fixed-effects panel model to examine the impact of dynamic capabilities on firms’ choice of green innovation pathways. Results show a significant positive influence of dynamic capabilities on green innovation, although this effect varies depending on the research and development model and the level of environmental turbulence. Firms with high dynamic capabilities tend to favor independent research and development, with an effect coefficient of 0.778 (p<0.01); firms with moderate dynamic capabilities benefit more from cooperative research and development, with a coefficient of 0.045 (p<0.01); and firms with lower dynamic capabilities primarily pursue green innovation through technology transactions, with a coefficient of 0.052 (p<0.01). Furthermore, environmental turbulence significantly moderates the relationship between dynamic capabilities and green innovation negatively, with an interaction coefficient of -0.088 (p<0.05), indicating that environmental uncertainty weakens the positive impact of dynamic capabilities.These findings suggest that firms can select suitable research and development models aligned with their level of dynamic capabilities and adopt flexible innovation strategies to effectively manage environmental turbulence. This study proposes the following policy recommendations: enterprises should strengthen their dynamic capabilities, particularly in knowledge acquisition, resource integration, and adaptability to environmental changes, to enhance their green innovation capacity. Additionally, the government should increase policy support for green technological innovation by offering financial subsidies, tax incentives, and intellectual property protections, helping enterprises maintain their innovation momentum amid environmental turbulence.

Global Climate Change: Challenges, Opportunities, and Multilateral Strategies for Sustainable Development

Background: Climate change is one of the most pressing global challenges, demanding collaborative action from both developed and developing countries. Despite numerous international agreements like the Kyoto Protocol and the Paris Agreement, political will and leadership commitment have been inconsistent, hindering effective global climate action. Private actors and global partnerships have emerged as critical players in addressing climate risks, but geopolitical and economic tensions continue to impede progress. Objectives: This research explores the key challenges and opportunities in combating climate change, emphasizing the role of international cooperation, the involvement of private and public sectors, and the need for innovative solutions. It also seeks to examine the responsibilities of developed and developing countries in contributing to global climate goals. Methods: A qualitative analysis was conducted by reviewing relevant literature, international agreements, and case studies. Data from climate summits, reports, and expert opinions were integrated to understand the political, economic, and environmental dimensions of climate change. Findings: The study identifies several challenges, including a lack of political will among major powers, economic competition, and inconsistent global leadership. It also highlights opportunities, such as the potential for technological innovation, investment in renewable energy, and the strategic role of private actors in promoting sustainable development. The findings underscore the importance of global partnerships and multilateral platforms like the United Nations in fostering cooperation among nations. Conclusion: Addressing climate change requires a holistic approach involving state and non-state actors, strong political leadership, and global partnerships. The transition to a low-carbon economy will require significant economic restructuring, but it presents opportunities for innovation and sustainable development. The study emphasizes the need for developed countries to fulfill their financial commitments to support adaptation in developing nations. Novelty: This research contributes to the existing literature by providing a comprehensive analysis of both the challenges and opportunities in combating climate change. It highlights the critical role of private actors and international cooperation, offering a framework for future global actions.

Reverse mixed ownership reform and financial risks in private enterprise

The mixed ownership reform is an important part of the economic restructuring in our country. In addition to the participation of non-state-owned capital in soes, it is also more and more common for state-owned capital to participate in the reverse mixed ownership reform of private enterprises. As an important force in China's economic development, the national economy has entered a new normal in recent years, and due to the impact of COVID-19, the Sino-US trade war and other events, many private enterprises have fallen into financial crisis and entered a "wave of closure." Based on this background, this paper empirically studies the impact of state-owned capital shareholding on the financial risk of private enterprises by using the sample of A-share listed enterprises in Shanghai and Shenzhen Stock exchanges from 2007 to 2021. In addition, this paper also discusses the influencing mechanism from two aspects of resource acquisition and governance supervision, and further analyzes that the effect of reverse mixed ownership reform of private enterprises on reducing financial risk mainly comes from the shareholding of state-owned non-financial institutions. This paper enriches the research on the economic consequences of reverse mixed ownership reform and the influencing factors of financial risks, and provides new ideas for improving the ability of private enterprises to prevent financial risks and promoting the healthy and stable development of private enterprises.

A Study of Hong Kong's Insurance Industry Based on the New Development Pattern Model

Against the backdrop of global economic changes and China's economic restructuring, the potential of Hong Kong's insurance industry as an investment channel is gaining increasing attention. This thesis aims to explore the opportunities and challenges of Hong Kong's insurance industry under the new development pattern. Through a combination of quantitative and qualitative analyses, it examines the historical data and future trends of Hong Kong's insurance market and conducts a study based on first-hand information obtained through data surveys and expert interviews, exploring the specific impacts of the new development pattern on the insurance industry, and incorporating the development of the Greater Bay Area into the research framework. Hong Kong's insurance industry harbours a wealth of investment opportunities in terms of expanding market size, product diversification, and policy support, but it also faces challenges such as intensifying market competition and international uncertainty. The study recommends that investors should focus on long-term trends to optimise their investment strategies and address market risks.

Current state of tourism human resources in Bac Ninh Province, Vietnam

In recent years, the development of the tourism industry has been contributing to promoting economic restructuring, while preserving and promoting the value of cultural heritage and natural resources; creating many jobs, improving people's lives; accelerating the process of international integration, promoting the image of the country and people of Vietnam. To continue promoting the achievements of the tourism industry, it is necessary to promote all resources of the industry, approach new trends and transform appropriately in the context of the impact of the current epidemic situation. In particular, developing tourism human resources, especially high-quality ones, is a direction in line with the trend of international economic integration. Human resources play a key role in determining the success or failure of tourism businesses. However, developing a high-quality human resource team for tourism is still a difficult problem. Keywords: Human Resources, Tourism, Human Resources

Retraction Note: Public–private partnerships for energy transition: studying role of economic change and energy restructuring over the time

Retraction Note: Public–private partnerships for energy transition: studying role of economic change and energy restructuring over the time

Can the Development of Renewable Energy Improve Total-Factor Carbon Emissions Efficiency? Evidence from 30 Provinces in China

Abstract The global temperature is exceeding 1.5°C above pre-industrial levels due to the increasing carbon emissions, and developing renewable energy is expected to be one of the most effective solutions. However, whether the development of renewable energy contributes to curbing the carbon emissions while maintaining economic development is still under investigation. Using the total-factor carbon emission efficiency (TFCEE), this paper first measures the carbon emission abatement and economic development of 30 provinces in China from 2005 to 2019. Then, based on the super-efficiency slacks-based measure (SE-SBM) model, the panel threshold models and spatial Durbin models are established to comprehensively investigate the impact of RED on TFCEE. The findings reveal that: (1) RED significantly improves TFCEE. For every 1% increase in RED, TFCEE experiences a rise ranging from 0.020% to 0.035%. (2) The beneficial effect of RED on TFCEE increases with economic restructuring and technological progress. (3) The indirect impact of RED on TFCEE through spatial spillover is significantly greater than its direct effect. Potential transmission mechanisms for this spatial spillover effect are the cross-regional mobilization of renewable electricity and the diffusion and absorption of low-carbon knowledge and technologies. The above conclusions provide empirical evidence for China and other developing countries to formulate appropriate energy transformation strategies. Keywords: Renewable energy development; Total-factor carbon emissions efficiency; Transmission mechanism; Spatial spillover effect; Nonlinear effect.

Rethinking Asian Settler Colonialism: A Historical Perspective of Hawai'i Asians on Indigenous Lands

Abstract: "Asian settler colonialism" calls attention to the simultaneous denial of Kanaka 'Ōiwi dispossession and the celebration of descendants of Asian immigrants as industrious members of Hawai'i's multicultural middle class. While we acknowledge the importance of confronting settler colonialism, we argue that Asian settler colonialism reinscribes an inaccurate understanding of Hawai'i Asians today and over time. Tracing Hawai'i history from the Kingdom era to the present, we show that Hawai'i Asians are not inherently settlers by virtue of being non-natives living and working on Indigenous land; rather, many Hawai'i Asians hold a generational responsibility and political affinity within the nation of Hawai'i. Further, as Hawai'i's hierarchies have evolved amid economic restructuring, the privilege and power held by some Asians have been incorrectly attributed to the native-settler binary of settler colonialism while overlooking the interplay of race, class, global economic shifts, and political dynamics reinforced by military action.

Success story or tall tale? Discursive cooperation and economic restructuring in Iceland

Political economists have long recognized the power of ideas to influence economic adjustment by shaping public policy and fostering inter-firm coordination. This article extends this argument, demonstrating how ideas can have a direct and unmediated impact on economic restructuring. More specifically, it identifies discursive cooperation, or collective storytelling, as a distinct logic of collective action, separate from policy concertation and inter-firm coordination. Examining twenty first century Iceland, this article illustrates how shared narratives accelerated the country’s movement into financial services and tourism by facilitating the diffusion of new business models and attracting external resources. Absent inter-firm coordination, policy concertation, or supportive public policies, however, stakeholders struggled to invest in public goods. Instead of incremental upmarket movement, Iceland was characterized by volatile boom-bust dynamics. In illustrating the transformative power of storytelling in small open economies, this article simultaneously highlights the perils of relying on discursive cooperation alone.

Current issues of assessing and increasing the digital maturity of Russian enterprises

The unfolding fourth industrial revolution involves increasing the innovative activity of Russian economic entities with the aim of producing high-tech products that replace foreign analogues and ensure the achievement of independence and accelerated development of enterprises. Digital maturity in this aspect is the main factor contributing to their transition to a digital path of development and accelerating innovative growth through the introduction of modern software and the subsequent use of emerging digital capabilities for effective functioning in the face of ongoing changes. A scientifically based approach to assessing digital maturity and managing the digitalization of domestic enterprises is a guarantee of increasing their competitiveness in the market. The purpose of the study is to develop tools for assessing and improving the digital maturity of Russian enterprises to ensure effective implementation of digital renewal strategy and independence from Western developers provision. In the process of achieving this goal, methods of structural analysis and synthesis, system analysis, generalization and description were used. Based on the results of the study, a set of recommendations was developed that are of high importance for the development of methodological management tools and acceleration of economic growth of enterprises in the Russian Federation. The study is based on modern works of leading domestic and foreign economists. The digital transformation of enterprises contributes to their resilience to risks and uncertainty, which inevitably manifest themselves in the conditions of economic restructuring.

Ireland, intellectual property and the political economy of information monopolies

Ireland's policies towards US-owned global digital intermediaries (Big Tech) have emerged as an international political issue and received global media attention. So far, political and media focus has been on the impact of Ireland's tax policies on the revenue-raising ability of other European states and perceptions of light touch regulation of those corporations based in the Republic. The current paper will focus on how Ireland's switch to a focus on capital allowances for the sizeable American tech corporations has enabled the latter to sustain their dominance in the digital transition through incentivizing and subsidizing their switch to assetization as a means of deriving investment. Assetization enables investment and profits based on present and future rents from intellectual property. We argue here that the assets and intellectual property of the tech giants are emblematic of a broader process of political–economic restructuring and information monopoly building. The evidence for this resides in Ireland's bumper rise in corporate tax from 2015. Ireland's facilitation of assetization is the end process of some broader institutional transformations that structure economic power.

Sudan: Rethinking the Conflict Between Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF)

Sudan, the third largest nation in Africa, faces severe poverty despite its abundant natural resources. Recent economic restructuring efforts offer hope for growth, but a power struggle between the military and paramilitary forces has plunged the country into a crisis. Intense violence in Khartoum and other regions has led to widespread damage to infrastructure and facilities, triggering a humanitarian crisis with millions displaced and urgent aid needs. The conflict, sparked by disputes over paramilitary integration and control of economic assets, threatens regional stability and the transition to democracy. This article analyses the conflict’s origins and proposes potential resolutions using the Protracted Social Conflict Theory.

Restructuring of global economy by attaining sustainable development goals- India’s Experience

Restructuring of global economy by attaining sustainable development goals- India’s Experience

Latvian municipal budget expenditures on transport infrastructure and production in the context of improving the local economy

The article aims to study Latvian municipal budget expenditures on transport infrastructure and production in the context of improving the local economy. The authors hypothesize that the comparative priority of municipal budget expenditures on two items is determined by the state of the local economy; in municipalities with a more developed economy it is ‘transport’ rather than ‘production’ budget expenses that are more likely to improve the local economy, and in municipalities with a less developed economy – vice versa. The authors tested the hypothesis based on data for 2021 and 2022 (the time after the reform of the territorial-administrative structure of Latvia) for 43 Latvian municipalities using various methods of statistical analysis. The results show that the comparative priorities in Latvian municipal budget expenditures are determined not by the state of the local economy, but rather by the geographical (or geopolitical/geoeconomical) location of the municipality. As a result of this, Latvian municipalities are grouped into territorial clusters, using the agglomeration effect from the concentration of transport infrastructure or production. Over the past year, there has been a tendency towards ‘transport-production’ economic restructuring of the territory of Latvia, the reasons for which may be geopolitical situation in the Eastern Europe.

Ghana and the IMF: Policy shifts, economic bailouts and macroeconomic outcomes

Ghana has a long history of engagement with the IMF. Successive governments of Ghana have sought economic bailouts from the IMF due to worsening domestic macroeconomic stability. This paper examines Ghana’s historical engagement with the IMF and the associated macroeconomic outcomes, and offers lessons for economic restructuring and growth beyond the bailouts. The paper explores the common patterns of the key macroeconomic variables and possible latent causal effects. The results reveal intermittent and short-term effects of the IMF programs. The bailouts often have a short-term impact on macroeconomic stability and growth, but the effects are unsustainable in the long term, especially after the IMF program ends.

The implementation of the national project “Healthcare” in the context of the restructuring of the economy

The implementation of national projects, including new ones, which were announced on February 29, 2024 in the Presidential Address to the Federal Assembly, can have a serious impact on the restructuring of the Russian economy. However, the mechanism of this influence, including through the implementation of the national project “Healthcare”, has not been sufficiently studied.

Job insecurity amid the COVID-19 pandemic and beyond: a systematic review and research agenda

PurposeThe catastrophic effects of the COVID-19 pandemic have considerably impacted the labour market and increased job insecurity among workers. This study systematically reviews the literature on job insecurity conducted in the context of the COVID-19 pandemic with three key objectives. First, to identify the key antecedents of job insecurity during the pandemic. Second, to identify the outcomes associated with job insecurity during the pandemic. Third, to identify the underlying boundary conditions that strengthened or alleviated the association between the antecedents of job insecurity and its associated outcomes.Design/methodology/approachThe study followed PRISMA 2020 guidelines for the selection and inclusion of scientific literature by systematically searching five electronic databases, namely, Scopus, ScienceDirect, PubMed, Web of Science and Psych Info.FindingsA perception of health-related risks, negative economic consequences and organizational restructuring during the pandemic were the primary factors contributing to job insecurity among workers. The consequences encompassed detrimental impacts on health and well-being, proactive measures undertaken by employees to alleviate the threat of job loss, and a variety of tactics employed to cope with stress arising from job insecurity. The boundary conditions elucidate the factors that alleviated job insecurity among workers and influenced both their work and non-work outcomes.Originality/valueThis is the first systematic review summarizing the literature on employees' experiences with job insecurity amid the COVID-19 pandemic. Based on a systematic review, this study provides doable steps that HR managers can take to effectively manage job insecurity among workers, particularly during a crisis.

From Paso del Norte to the Borderplex: Labor Devaluation, Bordering, and the Remaking of Uneven Development in the US–Mexico Borderlands

Based on over two years of ethnographic research in the US–Mexico borderlands, this article examines how regional economic development actors work to position the border region as a competitive node in the global economy. In the context of the economic uncertainty generated by recent political and economic restructuring, like the 2008 financial crisis and the COVID-19 pandemic, actors deploy discourses of regionalism and practices of regional integration as part of an economic development strategy designed to foment both economic recovery and competitiveness. I argue that central to their efforts to promote a modern, seamlessly integrated binational border region to interested investors and employers is the maquiladora model of economic development. This is an economic development model built on (1) the long-term devaluation of industrial labor and (2) the active maintenance of the geopolitical border itself, as an institution reproductive of the racialized (and relational) hierarchies of value that underwrite the border region’s competitiveness. Engaging insights on capitalism’s uneven development from feminist economic geography and contributions from border studies, I suggest that an empirical engagement with the US–Mexico borderlands expands our geographic imagination of where, and how, racialized devaluation happens. Ultimately, taking regional actors and their economic development strategies and imaginaries seriously illuminates their ongoing importance in shaping regional economic trajectories, and therefore the well-being of border communities, now, and in the future.