Structural Economic Reforms Research Articles

The Role of Reserves in Mitigating Sanctions’ Impact on Economic Growth

ABSTRACT As global risks mount, national reserves act as a nation’s frontline defense, guarding economic stability. This study investigates the role of national reserves in mitigating the impact of international sanctions on economic growth, analyzing 131 countries from 2000 to 2022. Using econometric methods, including two-step Generalized Method of Moments (GMM) and fixed effects models, we examine how reserves relative to external debt help buffer economies against sanctions. The findings show that economic sanctions significantly hinder growth, with trade sanctions being the most damaging. Reserves act as a key buffer, particularly in the short term, though their effectiveness decreases over time. Countries with stronger reserve adequacy are better equipped to manage the challenges of sanctions. The study highlights the importance of maintaining robust reserves and implementing broader strategies like economic diversification and structural reforms for long-term resilience. These insights are valuable for policymakers navigating sanctions-related economic challenges.

ORGANIZATIONAL AND ECONOMIC TRANSFORMATIONS OF THE AGRICULTURAL SECTOR IN THE POST-WAR PERIOD OF ECONOMIC DEVELOPMENT OF UKRAINE

The agricultural sector in Ukraine plays a pivotal role in the country's socio-economic stability and food security. However, the full-scale war with Russia has significantly impacted this sector, necessitating comprehensive organizational and economic transformations to restore and enhance its functionality in the post-war period. This study aims to propose practical recommendations for the organizational and economic transformations required in the agricultural sector of Ukraine during the post-war economic revival period. The research employs a combination of general scientific methods, including abstract-logical reasoning, monographic and terminological analysis, theoretical generalization, economic and statistical analysis, abstraction, and formalization. These methods facilitate the substantiation of theoretical approaches, formation of conceptual frameworks, identification of development trends, and justification of strategic directions for the agricultural sector's transformation. Despite the crisis induced by the war, the agricultural sector in Ukraine has demonstrated financial stability and adaptability. In 2022, agriculture contributed 8.6% to GDP, though this was a decline from previous years. The sector's share in export structure increased, becoming a crucial source of foreign currency inflows despite logistical challenges. The study identifies structural issues such as over-reliance on low-value-added exports, technological dependencies, and economic vulnerabilities tied to the raw material orientation. Recommendations include diversifying production, enhancing value-added processing, fostering technological advancements, and creating investment funds for structural economic reforms. Further research should explore the long-term impacts of proposed transformations, the role of technological integration in agriculture, and the development of policies that balance agricultural productivity with environmental sustainability. Additionally, investigating the effectiveness of investment funds and economic incentives in achieving structural changes will be critical to ensuring the resilience and growth of Ukraine's agricultural sector.

Assessing Economic Development and Quality of Life: A Management Perspective on Romania and the Republic of Moldova

This article presents a comparative analysis focusing on the economic dimensions of quality of life and explores the factors influencing economic growth and well-being between two countries located in Eastern Europe: Romania—an EU member state since 2007, and Moldova—an EU candidate status since June 2022. By examining statistical data, we assess the relationship between economic growth and development, aiming to discern patterns and dynamics within these countries’ economies. Through this comparative approach, we aim to elucidate how economic factors contribute to societal welfare and living standards. The study underscores the significance of economic management policies and structural reforms in fostering growth and enhancing the quality of life for citizens. By focusing on the economic landscapes of Romania and Moldova, we aim to offer insights into the challenges and opportunities faced by transitioning economies in Eastern Europe, shedding light on strategies for sustainable development and improved well-being.

Fixing Ghana's Economy: Addressing the Broken Glass

This paper delves into the pressing issue of addressing the challenges faced by Ghana's economy, metaphorically described as "the broken glass." With a focus on economic reform and revitalization, the study examines the key factors contributing to the economic challenges in Ghana and proposes strategies for sustainable development and growth. By analyzing the root causes of the economic fragility and identifying areas for improvement, the paper aims to offer insights and recommendations for policymakers, stakeholders, and citizens to collaboratively work towards fixing Ghana's economy. Through a comprehensive exploration of economic policies, structural reforms, and innovative solutions, this study seeks to pave the way for a resilient and prosperous economic future for Ghana.

Сurrent International Situation and Opportunities for Financial Cooperation Between Russia and China

The article analyzes in detail the current international situation and possibilities of financial cooperation between Russia and China in the new normal functioning of the world economy. As a result, of the reorientation of Russian foreign trade, the share of the yuan in international trade calculations, domestic and international trade operations of Russia continues to grow. Under these conditions the question of how the Russian economy can get a steady, safe and affordable flow of capital to promote economic structural reforms and optimize the placement of debt currency, as well as how Russian enterprises and financial institutions can get yuan liquidity into their own hands, is becoming an important element of Chinese- Russian financial cooperation in the near future. In the future, Chinese-Russian financial cooperation may continue in the following directions: speedup of the connection of the Chinese payment system CIPS with the Russian SPFS, the creation of an offshore conversion center in yuan in Russia, assistance to the capital management agencies and investment banks of the two countries in conducting preliminary research to enter each other's capital markets, speedup of the construction of a regional currency system through multilateral cooperation mechanisms such as the SCO and BRICS.

Economic structural transformation: The Vietnamese case for developing nations in a globalization context

Vietnam’s economic evolution presents a compelling case of transformative growth driven by its distinctive historical, cultural, and policy landscapes. Since the watershed Đổi Mới reforms of 1986, the country has navigated the complexities of market liberalization, socialist principles, and international integration, achieving remarkable development while preserving its economic sovereignty. Through a mixed-methods approach, this study delves into the impacts of Đổi Mới, assessing the successes and ongoing challenges in Vietnam’s economic restructuring. Results indicate a remarkable shift in GDP contribution from agriculture to industry and services, with a burgeoning private sector and enhanced international trade and investment. However, challenges in achieving equitable growth, inclusive development, and environmental sustainability remain salient amid global economic shifts. Vietnam’s experience underscores the critical need for targeted reforms in workforce development, economic diversity, infrastructural enhancement, environmental stewardship, and regulatory and financial governance. Vietnam’s proactive stance on economic autonomy and global participation highlights the importance of a nuanced approach in navigating the changing international landscape. In summary, Vietnam’s journey through economic structural reform provides a unique perspective on navigating development within a socialist-oriented market framework, serving as a distinctive exemplar for similar emerging economies contending with the vibrant currents of globalization.

Exploring the Future of the Sports Industry Through an Economic Lens in 2031

Objective: The purpose of the current research was to explore the future of the sports industry through an economic lens in 2031. Methodology: This study was applied in purpose and survey in method. The population of this research consisted of all experts in the sports industry, from whom 16 experts were sampled using purposive and snowball sampling methods. To collect data, semi-structured and in-depth interviews were employed. Initially, the researcher reviewed literature and theoretical foundations related to the sports industry. Then, semi-structured interviews were conducted with experts to identify influencing factors (16 interviews were conducted until data saturation was achieved). For analyzing mutual effects, a matrix questionnaire constructed by the researcher based on qualitative findings was used. For data processing, the Delphi technique was utilized in the first part of the study, and in the second part, the analysis of mutual effects was conducted using the Micmac software. Findings: Variables such as government financial sustainability, political stability, and human resource development were identified as influencing variables. Economic diplomacy, technology growth, management strategies, sports commerce, economic structural reform, investment networking, and exports were recognized as influenced variables. Economic security was seen as a dual-aspect variable and finally, variables such as hosting international events, legal and regulatory factors, economic infrastructure, competitiveness, media growth, and social networking were identified as independent variables. Conclusion: In this context, actions such as the development of economic sectors capable of creating jobs and promoting entrepreneurship, pricing of sports industry products, formulation of production indices, commitment to a resistance economy, listing sports clubs on the stock exchange, and combating economic corruption in sports must be prioritized by managers to assist the economy of the sports industry.

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.

Measuring Economic Resilience through Industrial Portfolio: The Cases of New EU Member States Since 2004

The relevance of economic resilience topic is increasingly growing, still mixed results prevail in academic research. Resilience research typically concentrates on the Western European region. The research gap appears in focus towards the East since the concept of economic resilience is context dependent. By adapting the calculation mechanism of Martin and Gardiner (2019) to national level, we empirically analysed the economic resilience of 10 Southern and Eastern European countries between 2004 and 2020. We found common competition-related structural changes suggesting where to look for possible consistencies when analysing resilience: countries rarely change industrial portfolios when resist to shocks, unless specific or longer lasting production chain disruptions occur; individual properties dominate when countries recover from shocks, although common industrial portfolio shifts evident in manufacturing, and real estate industries. Results provide an original methodology and initial basis for the development of nation-specific policies to increase economic resilience and structural reforms effectiveness.

Macroeconomic determinants and their impact on environmental sustainability: the role of cultural and creative product prices.

China has to deal with the twin challenges of economic structural reform and carbon emission reduction against global warming. While investing in and constructing new infrastructure is great for the economy, it has also added to the carbon emissions of major cities. The product design industry has recently become increasingly interested in creating and pricing cultural and creative goods in specific provinces. Thanks to the burgeoning global cultural and creative sector, a new platform has opened up for the evolution and modernization of China's ancient cultural practices. Cultural creativity has broken the rigid design and production pattern of traditional products from a business point of view, increasing their economic advantages and competition. Also, this study examines ICT's main and moderate effect on carbon emissions in the 27 provinces of China's economy from 2003 to 2019 using panel estimators. The estimated outcomes show the positive contribution to environmental damages by physical capital, tourism, cultural product prices, innovative, creative prices, and trade openness, while ICT significantly reduces emissions. Besides the moderate role of the digital economy on physical capital, tourism, CP, ICP, and tourism significantly reduce CO2 emissions. However, the granger causality outcomes also show a robust analysis. Furthermore, this study also proposes some interesting policies to obtain environmental sustainability.

Research on Promotion Mode of Wuyuan Specialty Based on Blockchain

Wuyuan's existing specialties have a long history and a rich variety, but due to geographical restrictions, insufficient market demand and the contradiction between the slow sale of goods under the epidemic situation, the development of Wuyuan's specialty retail industry has encountered bottlenecks. At present, blockchain as the underlying support technology of digital currency has been applied to varying degrees in the financial industry, sharing economy, supply chain management and other fields, while there is still insufficient research on the promotion of special products and the application of retail models. Relying on the characteristics of immutability, instant plasticity and decentralization of blockchain, this paper systematically analyzes the application status and development advantages of blockchain. In order to improve the efficiency of the supply chain and ensure the quality of the supply of special products, this paper combines preliminary practices such as field investigations, sorts out the sales model of Wuyuan specialties, puts forward development countermeasures and suggestions, and develops the "Four Colors Wuyuan" WeChat Mini Program suitable for product tracking and traceability by building a specialty sales platform that can supervise and feedback in real time, boosting the digital development of Wuyuan's economy, promoting the optimization and reform of economic structure, and helping rural revitalization.

Exploring the Path of Autonomous Development: the Development Dilemma and Coping Strategies of Sub-Saharan Africa in the Post-epidemic Era

Based on the multidisciplinary research perspectives of economics, politics, and international relations, this paper starts with the analysis of the main characteristics of sub-Saharan African countries, analyzes their economic development difficulties and new challenges in the post-epidemic era, discusses the necessity for sub-Saharan African countries to explore the path of autonomous development at the level of economic structural reform and development model, and proposes coping strategies. Sub-Saharan African countries should seize the opportunity to accelerate economic restructuring under the favorable situation of the formal launch of the African Continental Free Trade Area (AfCFTA); take measures to develop agriculture and food production, manufacturing, digital economy, and the AfCFTA construction; and actively cooperate with China and other emerging countries to enhance their capacity for independent development.

Challenges to Disinflation: The Brazilian Experience

ABSTRACT: We review two previous bouts of high inflation and disinflation since Brazil adopted inflation targeting. In both episodes, fiscal sustainability concerns were present and inflation expectations became unanchored despite substantial monetary policy tightening. Disinflation and the reanchoring of expectations took time and proved costly, as both episodes entailed a recession. They required tight monetary policy combined with critical shifts toward structural economic reforms and sound fiscal policy. The ongoing episode features the same fiscal concerns and unanchored inflation expectations. This suggests the path ahead for disinflation will be challenging, unless policies change direction. We also speculate whether the Brazilian experience can provide insights for other countries.

The Cognition Trend of Chinese Traditional Media on Feminism and the Underlying Reason for Existing Negative Reports

With the positive development of the media, various mainstream cultures and ideologies have also changed. It is difficult for the two to accommodate. “Feminism”, as a progressive thought, spreads in the media space and has a great impact on the cognition of social equality between men and women. This paper studies and analyses about 200 articles from two traditional Chinese print media, exploring the cognition trend of Chinese traditional media on feminism and the deep reasons for existing negative reports. Conclusions can be drawn that the general attitude of traditional Chinese media to feminism is neutral and positive, while both the traditional dualism of patriarchal society and the reform of social economic structure have influenced the cognition and inclusiveness of traditional media to feminism.

CONCEPTUAL FRAMEWORK FORMATION OF AN EFFECTIVE SYSTEM OF PUBLIC ADMINISTRATION AND DEVELOPMENT OF LOCAL SELF-GOVERNMENT AS A NECESSARY CONDITION FOR BUILDING A FAIR INNOVATIVE KAZAKHSTAN

This article examines the challenges associated with forming an effective system of public administration and local self-government within the executive branch of government. It specifically focuses on the proposals made by the President of the Republic of Kazakhstan regarding the improvement of the country’s administrative and territorial structure, the decentralization of public administration, and the development of local self-government. The planned structural economic reforms necessitate a comprehensive reboot of the public administration system. The authors identify fundamental issues and present the conceptual foundations for decentralizing the public administration system. This approach is grounded in functional analysis and emphasizes the importance of establishing an effective system of public administration and local self-government as a crucial condition for building a fair and innovative Kazakhstan.

Efektivitas Program Penanganan Covid-19 dan Pemulihan Ekonomi Nasional (PC-PEN) ditinjau dari Ekonomi Pancasila

The COVID-19 Pandemic that has lasted for 2 years has resulted in a weakening of the economy in Indonesia. The formation of various policy strategies by the Government to overcome these conditions has been carried out based on the values espoused in the Pancasila Economic System. This system is expected to provide solutions in dealing with challenges and conditions during the pandemic. This solution is realized in extraordinary steps, one of which is the Economic Recovery and Structural Reform which is in line with the Covid Handling and National Economic Recovery (PC-PEN) program. The theme of the Government Work Plan (RKP) in 2022 is Economic Recovery and Structural Reform which is in line with the PC-PEN program which has been ongoing since 2020. Based on Law No. 2 of 2020 concerning Stipulation of Perppu No. 1 of 2020 concerning State Finance Policy and Financial System Stability for Handling the Covid19 Pandemic and/or in Facing Threats That Endanger the National Economy and/or Financial System Stability Becomes Law, with the focus on the budget for the PC-PEN program as a form of economic recovery, widening the APBN deficit above 3 percent of GDP is allowed until 2022. The government through the fiscal and monetary authorities prepares strategic steps for a soft landing and exit strategy in financing the national economic recovery based on people's welfare. This writing was made with a qualitative approach that aims to analyze the effectiveness of the Covid-19 Handling and National Economic Recovery (PC-PEN) program after the COVID-19 Pandemic by referring to the Pancasila values.

Climate action 2.0: can Green Deals help deliver a just Net-Zero Transition?

Structural economic reform is needed on an unprecedented scale and at an unprecedented rate to avert the worst impacts of climate change. Drawing on the lessons learned from Roosevelt’s New Deal, the paper analyses the extent to which green deal proposals and recovery plans put forth this century can deliver climate-resilient development according to a green growth (ecomodernisation) perspective. The paper concludes that while some greening of laws and post-crisis stimulus packages has been observed, it cannot be unequivocally concluded that pro-growth green deals can deliver a just net-zero and just transition.

Can the Belt and Road Initiative Promote the Dezombification of Firms?

ABSTRACT Based on China’s supply-side structural economic reforms, this paper examines the impact of the Belt and Road Initiative (BRI) on the formation of zombie firms. We find that the BRI significantly inhibits the formation of zombie firms by easing financial constraints and optimizing investment efficiency. Our findings are robust to different model specifications and samples. Further investigations find that the impact of the BRI is pronounced for private enterprises, manufacturing enterprises and enterprises with more intense market competition. Overall, our results provide clear policy implications by shedding light on the role of the BRI in optimizing the allocation of resources.

Environment-Friendly Behavior of New Agricultural Business Main Body Based on the Internet of Things.

The Internet of Things economy is necessary for the reform of China's economic industrial structure and international development, and it brings new opportunities and new challenges to the Chinese economy. The comprehensive informatization of the society is the prerequisite for the economic development of the Internet of Things. The Chinese government will adopt a strategy of simultaneous development to continue to accelerate the development of traditional agriculture while developing emerging strategic agriculture of the Internet of Things, accelerating the transformation of economic production methods. Family farming is a new type of agricultural business in the microeconomy. It is not only a producer and mobilizer of agricultural products but also an important carrier for implementing agricultural innovation technologies and promoting agricultural modernization. This article uses game theory, resource endowment theory, expectation theory, etc. to describe the impact mechanism of economies of scale, profit maximization, and environmental behavior on family farms from a game perspective and discusses the specific effects of resource endowments and psychological expectations. Through the research of the Internet of Things and the rural green energy cycle, this article applies it to the new agricultural business entities, thereby promoting the development of proenvironmental behavior analysis.

Labour, left and right: On party positioning and policy reasoning

Since the Second World War, the Labour Party has alternated between periods in which it has been positioned further to the left and others when it has been further to the right. The standard explanation for those oscillations is electoral–ideological. Labour moves to the right (towards the political centre) when it prioritises electoral considerations, usually after a period in opposition. It moves to the left when it prioritises ideology, usually after periods in government. Against this we propose a political economy–policy explanation. Labour moves to the right and a redistributive economic strategy when the economy is performing reasonably well. It moves to the left and adopts a structural economic reform programme when the economy is perceived to be in crisis. We argue that the political economy–policy explanation offers a more satisfactory account of when and why Labour has changed its spatial policy positioning in this period. By acknowledging the role of what we term ‘policy reasoning’ in the processes by which political parties (and the public) adopt and change spatial policy positions, our approach provides an alternative to the mechanistic models deriving from Downsian rational choice theory. It suggests that, contrary to general expectation, the Labour Party under Keir Starmer does not need to react to its 2019 election defeat by shifting significantly to the right.