Policy Interest Research Articles

New Constitution in Nepal: Fundamental Freedoms and Educational Rights Provisions, and Implications for Dalits’ Schooling

ABSTRACT When Nepal promulgated a new constitution in 2015, discourse around the ‘New Nepal’, post-monarchical rule, was powerful; the new constitution was perceived as a landmark text to provide a clear vision for New Nepal’s overall development. The poor state of Dalits’ human rights and educational realities were widely cited as critical issues requiring attention and expedited intervention during the constitution-writing process. Almost a decade later, however, no outstanding progress is evident regarding the overall development of the historically marginalized Dalits. This paper aims to interrogate the perpetuation of the dominant ideology, as the basis for the marginalization of people lacking power, in the new constitution’s fundamental and educational provisions by exploring its marginalizing semantic elements. We selected these semantic elements or linguistic categories through reading the new constitution. Our analyses expect to unfold the link between Dalits’ poor state of human rights and educational experiences and the provisions of the new constitution. This study helps expose the roots of inequality, exclusion, and social injustice by appraising policies of public interest in situations where human rights violations, illiteracy, and poverty have distressed the lives of marginalized people, as well as encouraging research on the problems faced by extremely vulnerable population like Dalits, who are not only marginalized in their place of birth but also in the diaspora.

Political accountability and legislative behavior in Africa: evidence from the 2019 Kenyan Sugar Bill in the context of the political economy of sectoral policy

ABSTRACT Recent research on African legislatures, once considered rarely autonomous, has found that some broad-scale mass movements, including pro-poor campaigns, hold legislators accountable. This article meanwhile examines the conditions under which narrow local constituency issues, shaping partisan differences, can hold relevant representatives and parties accountable while prioritizing over executive pressures and clientelist personal gains. I argue that this sort of political accountability in legislatures can be observed concerning sectoral policy interests, which, in Africa, are often geographically concentrated along ethnicity and party support lines. Drawing on a combination of qualitative and quantitative approaches including interviews, news coverage reviews, and a statistical analysis of legislative debates on the 2019 Sugar Bill in Kenya, I show that the growing and collective efforts of sugar farmers to influence their local representatives and parties to support the legislation, tying them to the same electoral fate, prompt legislators to speak in favor of their local interests. This implies that sector-based policy concerns, when addressed by organized policy backers, are used as an effective mechanism for maintaining party unity and accountability in the legislature.

Effect of trade openness on economic growth in Nigeria

The study investigated the effect of trade openness on economic growth in Nigeria. Time series data were collected from the Central Bank of Nigeria Statistical Bulletin from 1990 - 2022. While balance of payment was the proxy for economic growth (the dependent variable); the proxies for the independent variable (trade openness) were import, export and broad money supply to act as control variable. The method of data analysis employed in this study includes descriptive statistics, correlation analysis and unit root test. Ordinary Least Square was used to estimate the model. The findings revealed that import has no significant effect on balance of payment; export has significant effect on balance of payment; while broad money supply has insignificant effect on balance of payment in Nigeria. The study recommends that government should encourage huge investment on infrastructure development in order generate more economic activities; reduce the cost of doing business and increase the factors that drive productivity in Nigeria; and ensure stability in the interest, exchange rate and other monetary policy tools.

Education infrastructure inequality and academic performance in Ghana

The main thrust of this study was to assess the infrastructure inequality and academic performance nexus. Education statistics (2018) from the Ghana Statistical Service was used for the study. Firstly, ANOVA was used to estimate whether district-level academic performance differed at various infrastructure distribution levels (Infrastructure Quintile levels). The study further assessed the relationship between infrastructure and academic performance based on the System General Methods of Moments technique. It was found that the difference in district-level academic performance is conditioned on the infrastructure inequality. Also, previous academic performance had a significant positive relationship with performance. A U-shaped relationship found to exist between academic performance and class size, The study recommends the pursuit of policies aimed at bridging the education infrastructure gap such as prioritisation of education infrastructure development in deprived communities, so as, to impact academic performance.

Rocky Mountain spotted fever is a neglected tropical disease in Latin America.

Rocky Mountain spotted fever (RMSF), a severe and extraordinarily lethal infectious disease, has emerged as a widespread public health crisis among predominantly vulnerable populations in several countries of Latin America, particularly evident in northern Mexico. Historically, RMSF has gained less attention than many other tropical infectious diseases, resulting in insufficient allocations of resources and development of capabilities for its prevention and control in endemic regions. We argue that RMSF fulfills accepted criteria for a neglected tropical disease (NTD). The relative neglect of RMSF in most Latin American countries contributes to disparities in morbidity and mortality witnessed in this region. By recognizing RMSF as an NTD, an increased public policy interest, equitable and more appropriate allocation of resources, scientific interest, and social participation can ameliorate the impact of this potentially treatable disease, particularly in vulnerable populations.

“A normal nation in our land”: Reproductive righteousness, redemptive politics and LGBTQIA+ opposition in contemporary Israel

This article examines the political rhetoric and policy pursuits of a right-wing nationalist party in Israel (‘Noam’), showcasing how opposition to gender and sexual diversity is centered within an exclusionary vision of Jewish purity. Discursive analysis of political materials show how Noam frame gender and sexual diversity as potent proof of moral decline and as contaminating forces, which can only be saved by righteous (heterosexual) saviors. From billboards and election manifestos to policy, Noam's vision of a ‘Jewish state’ is underpinned by an idea of ‘normality’ that is ethno-nationalist, heteronormative and patriarchal. Their attempts to construct threats to the ‘normal’ Jewish nuclear family help to gain broader public support and forge alliances with hegemonic political parties. Situating this particular Jewish-Israeli exclusionary logic of reproductive righteousness is part of a broader feminist study of emerging alliances within right-wing movements in an increasingly globalized identity politics of opposition to gender and sexual diversity.

Reporting Climate Change: Factors Affecting Media Coverage of Climate Change in Pakistan

Climate change is posing challenges to every nation. Its effects are already being witnessed in different parts of the world. Extreme weather conditions and other climate-related disasters have forced world leaders to look for possible solutions. Media is of great assistance in this regard. It can not only highlight the issue but create awareness among people. Among the nations most at risk from global warming, Pakistan comes in at 8th position. However, its media has been witnessed to be ignorant towards the crucial issue. Therefore, this study focuses on the factors affecting Pakistani media coverage of climate change. A qualitative approach was used in the form of interviews from a defined sample of the population comprising ten climate journalists in Pakistan. The findings of the study suggest that agenda setting, economic interest, political inclination, corporate interest and media policy are among the top factors that influence the reporting of climate change in Pakitsan’s mainstream media.

The Effect of Negative Interest Rate Policy on Investment in Euro Area (2014-2019)

This study investigates the effect of negative interest rates on investment spending in the Euro- zone over the period 2014-2019 using panel data approach. The literature on this relation is relatively thin which pinpoints the contribution of this study. Both qualitative analysis and quantitative analysis are adopted. On the econometric side, Kao cointegration test and Fully Modified OLS technique are carried out. Both the descriptive and empirical findings indicate that interest rate after adopting the Negative Interest Rate Policy has a negative effect on the investment level. This finding is consistent with the neoclassical school of thought.

The lending implications of loan loss provisioning and monetary policy in Indonesia

This study investigates the heterogeneity of loan loss provisioning (LLP) and monetary policy effects on bank lending in Indonesia. The findings indicate that an increasing LLP and monetary policy interest rates lead to lower credit growth. This effect is more substantial among banks with low capital or liquidity. High LLP incentivizes banks to reduce credit lines and increase loan interest rates. The results suggest that prior high capital and liquidity may moderate the impact of high provisions and tight monetary policy on bank lending while mitigating financial stability concerns during an economic downturn. This study also discusses the policy implications of these findings.

Evidence-informed guidelines in oral health: insights from a systematic survey

BackgroundOral diseases are a major global public health problem, impacting the quality of life of those affected. While consensus exists on the importance of high-quality, evidence-informed guidelines to inform practice and public health decisions in medicine, appropriate methodologies and standards are not commonly adhered to among producers of oral health guidelines. This study aimed to systematically identify organizations that develop evidence-informed guidelines in oral health globally and survey the methodological process followed to formulate recommendations.MethodsWe searched numerous electronic databases, guideline repositories, and websites of guideline developers, scientific societies, and international organizations (January 2012–October 2023) to identify organizations that develop guidelines addressing any oral health topic and that explicitly declare the inclusion of research evidence in their development. Pairs of reviewers independently evaluated potentially eligible organizations according to predefined selection criteria and extracted data about the organization’s characteristics, key features of their guidelines, and the process followed when formulating formal recommendations. Descriptive statistics were used to analyze and summarize data.ResultsWe included 46 organizations that developed evidence-informed guidelines in oral health. The organizations were mainly professional associations and scientific societies (67%), followed by governmental organizations (28%). In total, organizations produced 55 different guideline document types, most of them containing recommendations for clinical practice (77%). Panels were primarily composed of healthcare professionals (87%), followed by research methodologists (40%), policymakers (24%), and patient partners (18%). Most (60%) of the guidelines reported their funding source, but only one out of three (33%) included a conflict of interest (COI) policy management. The methodology used in the 55 guideline document types varied across the organizations, but only 19 (35%) contained formal recommendations. Half (51%) of the guideline documents referred to a methodology handbook, 46% suggested a structured approach or system for rating the certainty of the evidence and the strength of recommendations, and 37% mentioned using a framework to move from evidence to decisions, with the GRADE-EtD being the most widely used (27%).ConclusionOur findings underscore the need for alignment and standardization of both terminology and methodologies used in oral health guidelines with current international standards to formulate trustworthy recommendations.

Impact of accounting conservatism and corporate governance on stock price breakdown in firms listed on the Palestine Stock Exchange

PurposeThis paper uses test panel data for the biggest companies listed on the boards of directors of the Palestine Stock Exchange from 2016 to 2022 and will focus on the relationship between the corporate governance index, accounting conservatism, and the comprehensive index of corporate governance.Design/methodology/approachThe relationship between corporate governance and accounting conservatism is experimentally investigated for its impact on the likelihood of stock price breakdown and decline among companies listed on the Palestine Stock Exchange between 2016 and 2022, using a mixed utilities approach.FindingsThe findings demonstrated the adverse correlation between corporate governance, accounting conservatism, and stock prices. Higher levels of corporate governance can effectively reduce the likelihood of future stock price increases, while conservative accounting policies can effectively prevent stock price collapses in these listed companies. Higher levels of corporate governance can greatly lessen the detrimental effect of accounting conservatism on the likelihood of future stock price breakdowns and declines. Both accounting conservatism and corporate governance have substitution effects in decreasing the danger of stock price collapse.Research limitations/implicationsThe limitations of the current research are that higher levels of corporate governance can significantly reduce the harmful effect of accounting conservatism on the probability of stock price breakdown and decline in the future on the study sample used, and these results cannot be generalized to all company stocks that were excluded in this study. The last research limitation is that the sample size of this study is somewhat small, and therefore the effects of the results cannot be used on all unlisted companies, and they cannot be generalized to all of these companies except only to companies listed on the Palestine Stock Exchange.Practical implicationsOur findings have interesting managerial and policy implications. Listed firms should first strengthen external audit oversight, improve the method of disclosing accounting information, and improve the system architecture to raise the level of accounting conservatism. Moreover, it is imperative to enhance and improve the ownership structure of publicly traded firms, construct a robust mechanism for replacing shareholders, fortify the duties of the board of directors, proficiently fulfil the role of independent directors, and develop and refine the internal and external framework for corporate governance.Originality/valueThis study provides insights about reducing the probability of a stock market breakdown and collapse from two sides: enhancing corporate governance, improving accounting conservatism, enhancing the reliability and integrity of disclosure, and growing the number of sustainable disclosures. These suggestions can also be used as a template for Palestine's capital market's gradual and sustainable expansion.

SỞ THÍCH CỦA SINH VIÊN ĐỐI VỚI CÁC HOẠT ĐỘNG NGOÀI GIỜ HỌC TRONG KHUÔN VIÊN TRƯỜNG: NGHIÊN CỨU Ở TRƯỜNG ĐẠI HỌC VINH

This study was conducted to investigate the students’ preferences for extracurricular activities on campus and influencing factors. 210 students participated in the research, from three major groups at Vinh University including: Natural Sciences, Social Sciences and Foreign Languages. Data were collected by using a 5-point Likert scale in questionnaire and personal interviews. After analyzing the data, the results show that students were most interested in professional workshops and events. Additionally, students' interest in extracurricular activities was influenced by factors such as timing, frequency, length, location, policy, and personal interest and hobby. Based on the research result, the article presents proposed recommendations with the hope of providing effective organization of extracurricular activities on campus for students.

Examining Monetary Policy Measures and Their Impacts during and after the COVID Era: OECD Perspectives

Governments worldwide implemented various fiscal and monetary measures to address the adverse impacts of COVID-19 on their economies. The paper aims to examine the changes in the monetary policy measures due to COVID-19 and their impact on macroeconomic variables. To explore this relationship, this study utilizes fortnightly data from 2020 to 2023 on the OECD (Organisation for Economic Co-operation and Development) countries. The study employs a Panel Autoregressive Distributed Lag (ARDL) model to analyze the effects of the monetary policy responses of the OECD governments, and the obtained results reveal that within OECD countries, the prevailing trend of lower interest rate policies emerged during the pandemic. This policy approach yielded a dual effect: lowering both output growth and inflation rates, while concurrently exacerbating unemployment rates throughout the COVID-19 period. Consequently, it is clear that monetary policies have played a pivotal role in facilitating the recovery from a profound economic shock such as the COVID-19 pandemic. Given the significant economic repercussions of a pandemic and the crucial role that monetary policy plays in sustaining economic stability, the apparent lack of attention underscores the urgent necessity for additional discourse on this vital subject.

International spillovers of conventional versus new monetary policy

We use a calibrated open-economy New Keynesian model to compare the spillovers from conventional and new monetary policy shocks from the US to Canada. We find that shocks with similar effects on the US GDP affect Canada’s private bond yield differently. For example, a forward guidance shock increases Canada’s private bond yield by 0.15%, however a quantitative easing (QE) shock decreases it by 0.13%. Our counterfactual policy simulations for the 2008 crisis show that (1) a more aggressive QE by the Fed would have resulted in a milder recession in the US but a steeper one in Canada. (2) If the Bank of Canada had followed the Fed’s QE policies, the drop in Canada’s GDP would have been much smaller. (3) Finally, if the Fed had implemented a mild negative interest rate policy, the effects on the Canadian economy would be similar to those of the benchmark zero-rate policy.

Do housing prices decrease when interest rates go up? Housing prices and interest rates: understanding the positive correlation across five countries

This paper investigates the relationship between changes in interest rate and house prices from the period 1975 to 2023 in five countries: United States, United Kingdom, China, Germany and Indonesia. Results show that contrary to the paradigm of real estate pricing, housing prices increase with interest rates. Furthermore we find that changes in house prices are independent of monetary policies and interest rate changes set by the central bank. Economically developed nations exhibit a stronger correlation between the two variables. We demonstrate that this is due to the 2008 financial crisis, where houses fell by nearly 30%, creating a fear of recession and the resulting policy of low interest rates to encourage investment.

Effects of Negative Interest Rates on Stability and Profitability of Commercial Banks

The article examines the impact of the European Central Bank's (ECB) negative interest rate policy (NIRP) on commercial banks in Europe. It traces the historical context of the policy back to the financial market and banking crises, which eroded trust among banks, leading to liquidity issues and economic downturns. To counteract this, the ECB introduced negative interest rates in 2014, aiming to stimulate the economy.The research question focuses on how NIRP affects banks' annual reports, particularly concerning total assets, credit and risk volumes, proprietary trading, profits, and stability. The hypothesis suggests that NIRP significantly increases risks in bank profitability and stability. Analysis spanning from 2014 to 2022 compares negative interest rate changes with bank balance sheet and profit/loss account developments.Economic theory predicts that negative interest rates decrease bank profits but increase lending activity. Statistical analysis confirms a correlation between NIRP and increased credit risk volume, as well as a shift from bonds to shares in proprietary trading. However, there is no statistical evidence linking NIRP with profit and profitability declines.In conclusion, while NIRP does lead to a significant increase in credit risk volume, it does not halt falling profits and profitability. Therefore, the hypothesis that NIRP increases risks for commercial banks' profitability and stability holds true, posing a threat to financial stability.

Kebijakan Moneter Dalam Pemulihan Ekonomi Indonesia Pada Masa Pandemi Covid-19

Introduction/Main Objectives: The Covid-19 pandemic, including Indonesia, has disrupted the world economy. In the world, Covid-19 has eroded the economy by USD 8.8 trillion or 9.7%. Bank Indonesia, the central bank that regulates monetary policy, has restored the economic problems that have occurred by collaborating with the government. This study aims to determine monetary policy in economic recovery during the Covid-19 pandemic. Research Methods: The method used in this research is qualitative with literature study techniques sourced from articles, books, journals, or other related sources. Finding/Results: The results of this study indicate that the monetary policies implemented by Bank Indonesia include accommodative macroprudential policies, rupiah exchange rate stability policies, SBN purchase policies from the secondary market, policy interest rate reductions (BI7DRR), and social assistance distribution policies (bansos) with the government. Conclusion: From several policies, it can be concluded that Bank Indonesia is serious in dealing with economic problems during the Covid-19 pandemic. So it is hoped that with the right Monetary Policy, the economy in Indonesia will improve.

Impact of Monetary Policy on Exchange Rate Stability in Nigeria

This study investigates the impact of interest rates, money supply, and Central Bank reserves on exchange rate stability in Nigeria. Utilizing quarterly economic data from 1980 to 2023, sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin, the research employs a longitudinal survey design to assess the relationships between these monetary variables and exchange rate volatility. The findings indicate that interest rates, money supply, and Central Bank reserves significantly influence exchange rate fluctuations, with Central Bank reserves having the most substantial impact. Specifically, interest rates exhibit a moderate effect on exchange rate volatility (t = 3.513, p = .001, Beta = .342), while money supply also significantly affects exchange rate volatility (t = 2.713, p = .010, Beta = .305). Central Bank reserves, however, have the most pronounced impact (t = 4.141, p = .000, Beta = .467). These results highlight the critical role of monetary policy in maintaining exchange rate stability. The significant positive relationship between interest rates and exchange rate volatility suggests that monetary authorities should carefully consider the ramifications of interest rate adjustments. Similarly, the influence of money supply underscores the need for meticulous management to prevent destabilization. Robust Central Bank reserves emerge as a crucial buffer against exchange rate fluctuations, emphasizing the importance of effective reserve management policies. The findings provide actionable insights for policymakers aiming to enhance exchange rate stability through strategic interest rate policies, careful money supply management, and maintaining adequate Central Bank reserves.

Where do the Pasinetti Rule and the Pasinetti Index Come from?

ABSTRACT The article describes the origins of the Pasinetti index and Pasinetti rule and links both notions to debates over concerns regarding which socio-economic income group in a modern capitalist economy was being hurt and which broad income class was benefiting from the high interest rate policy, especially during the Volcker era of the 1980s. These were statistical constructs as well as distinct normative concepts that resulted from a close reading of Pasinetti’s original writings published in 1980–81. The purpose of the Pasinetti index was to measure and monitor the actual transfer between the rentier and non-rentier sectors of an economy both cyclically and over the long term. As discussed in some detail, both authors of this article had directly participated in those debates and had basically initiated the early discussions around these concepts among post-Keynesians and other heterodox economists. The first part of our article, after the introduction, is primarily focused on what came to be called the Pasinetti rule, while the following section of the article recounts how the different variants of the Pasinetti index came to be constructed and used. We conclude with a discussion of the possible continued relevance of the Pasinetti norm in today’s world.

Lessons from low interest rate policy: How did euro area banks respond?

This paper studies the impact of the Eurosystem’s low interest rate policy on euro area banks. We first assess the impact of low rates on banks’ net interest margins. An important extension to previous studies is that we split the interest margin into a funding and lending component. The decomposition makes clear that the low interest rate environment significantly reduced banks’ net interest income by squeezing funding margins, which corroborates the reversal rate literature. We find no strong evidence that banks have boosted their lending margins to offset the lost funding margin. However, we do observe that banks partly compensated for the impact of low rates by switching to non-interest income sources and by cost savings. We also find that low interest rates have not reduced bank lending, which suggests that banks’ compensatory measures largely outweighed the impact of low rates.