International Economy Research Articles

Adapting to the market: leftist ideological justifications of liberal economic policies, 1977–1986

ABSTRACT Why do leftist forces accept, support and adopt free-market policies? To answer this question, we carry out a comparative study of left-wing groups (both parties and trade unions) in France, Italy and Spain during the late 1970s and the early 1980s. This period is widely acknowledged in international political economy to have represented a paradigm shift from post-war Keynesianism to neoliberal policy-making. We employ in-depth content analysis of memoirs, interviews to the press, opinion articles and policy-papers to explain actors’ positions on landmark policies implemented during such transition. In alignment with a developing literature in political economy (e.g. Mudge 2018), we find a proactive role of progressives in developing the ideological justification for the resort to liberal policies. However, we emphasise that widespread consensus among so-called progressives, rather than a leading role of technocrats or party experts, best explains such shifts. In this way, the paper casts doubts on interpretations of the liberalisation process that place excessive emphasis on the role of external constraints as well as on elite power. Drawing on Hall (1993), we argue that left-wing forces in the early 1980s have enacted a ‘second order change’, whereby policymakers use new instruments to meet existing policy objectives.

Роль региональных научных центров в преодолении кадрового голода в сфере внешнеэкономической деятельности

Reformatting the international economics makes practice-orientation of higher education especially relevant. The article assesses impact of regional scientific centers on overcoming the FEA’s staff hunger. Methodological basis are concepts about practice-oriented education. Information basis were data of Customs and Statistical services, Central bank of Russia. Research methods were comparative and economic-statistical analysis. Methodical approach is substantiated to assessment of influence of dependence between specialists’ preparing and the indicators characterizing the Russia’s export development. It’s proposed to assess education through students’, graduates’ and researchers’ number and expenses on science, and the FEA’s results – through volume of export, including non-primary and non-energetic. The authors’ approach is tested on 85 Russian regions for 2021. Results of correlation analysis demonstrate: there’s link between considered indicators, especially between researchers’ number and expenses on science – and non-primary export. The algorithm is developed of organizing the interaction of participants of export project activity. As a tool of development is considered creation of campuses and their influence on region’s development. Theoretical and practical relevance consists in that trend is ascertained of activation of involvement of tools of practice-oriented education by preparing the FEA’s staff, and in that directions and ways of its realizing in Russian regions are defined.

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Navigating the Complexities of International Economic Law: Implications for Global Trade and Investment

This paper explores the multifaceted landscape of international economic law and its profound implications for global trade and investment. Through a detailed examination of key legal instruments and treaties, including the World Trade Organization (WTO) agreements, Bilateral Investment Treaties (BITs), and Regional Trade Agreements (RTAs), the study elucidates how these frameworks shape the regulatory environment for international commerce. Central principles of non-discrimination, most-favored-nation (MFN) treatment, and national treatment are dissected to understand their practical application and impact on trade and investment flows. The role of international organizations in creating, enforcing, and shaping the norms and standards of global economic interaction is critically assessed. Furthermore, the paper delves into the legal challenges and strategic considerations businesses face in navigating international trade, investment protection, intellectual property rights, and the burgeoning digital economy. By examining case studies and practical implementations, the study highlights the dynamic interaction between legal frameworks and business strategy in the context of digital trade, data protection, and the use of digital currencies and blockchain in trade finance. This comprehensive analysis aims to provide insights into the evolving landscape of international economic law and offer strategic guidance for businesses and policymakers navigating these complexities.

Engineering the Economy through Austerity: The Influence of International Economic Expertise in Iceland after the First World War

This essay explores how Iceland, a newly independent state on the northern European periphery, responded to the international agenda for post-war stabilisation set out by economic experts after the turmoil of the First World War. It shows that the government of the so-called Austerity Alliance, led by Jón Þorláksson, adopted austerity policies devised at the international financial conferences in Brussels (1920) and Genoa (1922). To please external experts and creditors, it implemented a comprehensive fiscal and monetary policy of austerity and created a new central bank that was independent of politics. The aim, however, was not to divorce markets from government in a return to a pre-war era of laissez-faire as the scholarly literature suggests. Offering the first analysis of ‘the Icelandic business cycle’, the Þorláksson government enforced austerity by carving out ‘the economy’ – a measurable entity legible to expert management – that greatly expanded the role of the state.

Jugoslavija i ambivalentnost ekonomske saradnje Jug-Jug u sedamdesetim i osamdesetim godinama

During the epoch characterized by the vigorous pursuit of the New International Economic Order by developing nations, Yugoslavia emerged as a prominent member of both the Non-Aligned Movement and the Group of 77 developing countries (G-77). It sought to exemplify the feasibility of establishing a novel framework for relations between industrially more developed nations, including itself, and its allies within this coalition, characterized by economies in various stages of development. Within influential circles at the United Nations, Yugoslav development theory garnered attention for its perceived integration of Marxist and neoclassical economic concepts, representing an ambitious global reform program that diverged from the perspectives of the capitalist and socialist superpowers. This conceptualization of globalization concurrently grappled with the ideological, geopolitical, and economic ramifications of the emerging neoliberal revolution, which markedly constrained available manoeuvering space starting in the early 1980s. The article critically examines specific instances of Yugoslav bilateral economic collaboration with distinct African nations, offering insights into the practical implications of the envisioned economic order and its practice on the ground.

The Impacts of Small Games on Sino-American Relations

Small incidents between superpowers may inadvertently affect their diplomatic behaviors, like the Butterfly Effect, pushing their international relations in another direction. This is the case with "Pelosi's Visit to Taiwan" and the "U.S.-China Balloon Incident" on the Sino-American relationship. As the most complicated bilateral relationship in the world today, the reaction of the two superpowers will have a significant impact on the entire world landscape. Despite the historical legacy and the different nature of their societies, which have led to differences in a number of areas, the two sides continue to seek opportunities for cooperation in various fields. The evolving Sino-US relations with peace as the main theme should be trusted by the whole world. This paper analyzes these two small events by using the theoretical knowledge of Realism, Constructivism, and International Political Economy in the Science of International Politics to explore the implied meanings behind them and the reasons why the two superpowers responded in this way.

The contribution of using Artificial Intelligence in the Sustainable Development

New strategies arising from the accessibility of internet and the growth of all types of digital technologies have allowed to major gains and improved the development of many sectors. Machine Learning is one of the prominent technologies of Artificial Intelligence that ensure the improvement of many sectors in the international economy and encourage the decision making at all levels. In other sides, the current demands for sustainable development have led to a pressing need to encourage more sustainable land use and industrial development to maintain quality of life. To this end, governments, through the word, have tried to achieve the objectives of the millennium within the framework of the Development Goals Sustainable (ODS). The adoption of the Machine Learning tools to achieve the Sustainable Development Goals seemed to provide a new directions, perspectives and opportunities for this realization. The present work seeks to investigate the adoption of a various ML techniques in the Sustainable Development. It allows discussing opportunities and challenges that ML gives for the realization of the Sustainable Development goals.

Enforceability of International Economic Law in the Context of National Power Differentials

Under the background of global politicisation and economisation, international trade has become the main mode of communication among countries. With the explosive growth of international trade volume, human society will face trade discrimination and inequality, so human beings have set up the International Trade Organisation (ITO), which supervises the process of international trade and formulates the relevant international economic laws in order to better guarantee the sustainability of the economic cycle and protect the rights and interests of the disadvantaged countries. However, as time goes by, we can see that in reality most developing or third world countries are still unable to defend their legitimate interests and are at a disadvantage in most transactions. So this study will be based on the difference in the strength of the different countries and the structural shortcomings of the Global Trade Organisation. This paper will analyse why disadvantaged countries are still unable to obtain equal opportunities for development in the international community, which now has a more comprehensive legal system.

The social and political bases of political economy: interpreting and periodising Italian developments since WWII

ABSTRACT We investigate the transition between Fordism and neoliberalism in Italy employing insights from International (IPE) and Comparative Political Economy (CPE). Transitions are key periods to observe how countries tend to converge towards similar political economy developments through processes of social, political and institutional adaptation. We contribute to the literature by detailing how transformations in the ‘social and political bases of political economy’ influence institutional change. We understand these transformations as movements from below (changes in sociodemographic and productive compositions, and social movements) and above (agency in political parties, trade unions, business associations and elites); we name these components ‘the social and productive composition’ and ‘the social and political representation sphere’ respectively. Employing process tracing, we identify three historical periods in post-WWII Italian political economy – state Fordism (1945–78), a transitional period we name ‘the long 1980s’ (1979–91), and neoliberalism (1992–) – delineated by two historical ruptures: a breakup moment in 1978–9 that signalled the decline of Fordism, and a critical juncture that ushered in neoliberalism in 1992. Analytically, changes within the social and productive composition during state Fordism impacted on the social and political representation sphere, and on several reforms undertaken in different institutional domains. However, since the breakup moment 1978–9 this dynamic changed together with the international political economy context. Similar to other western countries, the main actors within the social and political representation sphere increasingly approached institutional regulation inspired by neoliberal ideas, while the pressures coming from the more active forces within the social and productive composition faltered.

Crop Recommendation System using Machine Learning

Agriculture plays a vital role in India's economy, yet Indian farmers often struggle with selecting the most suitable crops for their specific soil conditions, leading to decreased productivity. Precision agriculture offers a solution by leveraging soil data, crop yield statistics, and site-specific parameters to recommend optimal crops. This project aims to develop An intelligent system designed to assist Indian farmers in making well-informed decisions regarding crop selection, considering factors like the optimal sowing season, geographical location .and soil characteristics. Additionally, the system will provide yield predictions for the recommended crops, enhancing productivity The proposed Crop Recommendation System employs a hybrid model that considers various input parameters to suggest crops tailored to farmers' needs. Accurate yield prediction not only influences national and international economies but also plays a crucial role in food management and security

From Physics to Environmental Policy: Exploring Boltzmann Distribution for Carbon Trading Permit Allocation

Combating climate change and reducing atmospheric CO2 emissions are imperative. While carbon trade, including taxes and trading systems, has been proposed, the allocation of initial permits is challenging. This study addresses this issue, exploring the application of the Boltzmann distribution for carbon emission permit allocation in carbon trading. The Boltzmann distribution method uniquely considers each country's environmental and economic contexts, assigning more responsibility to nations with larger populations and higher emissions, and providing incentives to lower-emission countries. This promotes fairness in global climate change efforts and influences national environmental policies. High-emission countries like China receive a high number of permits, encouraging stronger environmental policies, whereas countries with lower emissions, such as Italy, benefit from additional permits as compared to conventional distribution models, bolstering their existing environmental conservation. This paper applies the Boltzmann distribution to eight countries, considering population, economic size, and CO2 emissions. It effectively balances permits between egalitarianism (population-based) and sovereignty (emission-based) principles, suitable for international carbon trading. This flexible approach provides a practical framework for international emissions rights allocation along with potential applications in broader contexts. Implementation of the Boltzmann distribution in real-world policy faces challenges due to the dynamic nature of international politics and economics. This research offers insights into the process of integrating this method into existing environmental policy frameworks, demonstrating its potential as a tool for enhancing global environmental sustainability. Future research should explore its application in the complex international political and economic environment, furthering its role in global climate policy.

Trade imbalance, heavy goods, and pollution

We propose a new welfare effect of trade surplus. Guided by insight from several fields in economics, we provide evidence that an increase in a country's trade surplus alters the unit shipping costs for its trade and the composition of its imports in ways that induce more pollution in the country in equilibrium. This new form of welfare loss of trade imbalance has not been accounted for in the existing international economics literature.

Advance Customs Clearance: A Bibliometric Study of Scopus

The aim of this study was to conduct a bibliometric analysis of the literature on advance customs clearance published in Scopus between 2006 and 2023. It was a bibliometric data study to measure scientific production through indicators. Keywords in English (advance, customs, clearance) were used to select 74 Scopus documents relevant to the study. According to the results, scientific production peaked in 2018, 2016 and 2012 (n=22; 29.7%). In addition, the United States accounted for 28.1% of all publications (n=32), 9 papers were published in Journal of International Economics and the most cited author was Manova, K. (481 citations; n=2 papers). The vast majority of these publications (92%) were research papers in the fields of economics, econometrics and finance (43%), social sciences (20%) and business, management and accounting (14%). It is concluded that the study conducted on advance customs clearance has a general upward trend, in terms of the breadth of topics covered, resources available and the number of authors who have made significant contributions to the area. This represents the basis for future research establishing a written argument and using the bibliometric study as a starting point.

The Compatibility of the Spanish Windfall Levy on Credit Institutions with EU Law and International Economic Law (Investment Law and Tax Treaties)1

Abstract This contribution serves to provide a fully-fledged analysis of the compatibility of the Spanish windfall tax on credit institutions with EU law (EU monetary and banking policy, EU Fundamental Freedoms, and state aid) and international law (investment law and double tax treaties). Our analysis reveals that the design of the Spanish tax captures windfall profits that are large and easy to detect due to inflation and high interest rates. Although the tax is compatible with EU law, it compromises the area of bilateral investment treaties and bilateral tax treaties.

Drivers and Limits of the Geoeconomic Turn in EU Infrastructure Policy

In recent years, the EU has increasingly applied state-interventionist practices to initiate and implement infrastructure policy projects. This stands in stark contrast to a phase of liberalization of infrastructure networks and services accompanying European integration and fiscal consolidation and infrastructure decay during the euro crisis. This article argues that the new state interventionism is strongly driven by the changing global constellation of a “new triad competition” where the EU is increasingly competing over infrastructures with the US and China. As a consequence, EU infrastructure policy undergoes a geoeconomic turn that aims to control transnational value chains and related political-economic spaces. Drawing on concepts of critical geography and international political economy, the article outlines the core features of this geoeconomic design logic of infrastructures and contrasts it with complementary or competing ones. The article substantiates these arguments by analyzing EU decision-making on two cases of high-tech infrastructure in the fields of communication and energy: the federated data infrastructure Gaia-X and the Hydrogen Strategy. Both cases provide evidence for the geoeconomic turn in EU infrastructure policy. Yet, the analysis also highlights that the turn is at times supported but also hampered by a capitalist logic that is reflected in the positioning of European and non-European businesses, as well as the EU’s reliance on private action. Furthermore, it illustrates that an ecological and a social-integrative design logic to key infrastructures are largely subordinated. The conclusions reflect on the discrepancy between the EU’s geoeconomic agenda and its less far-reaching implementation.

The Impact of the COVID-19 on the Consumption Structure of China

This paper summarizes and describes the impact of the COVID-19 on the consumption structure of China. The study conducts analysis on consumption from the perspectives of the total domestic consumption scale, the consumption structure and green consumption during the pandemic, and then summarizes the positive impact of boosting consumption and promoting economic recovery. It also explains how consumption began to recover as COVID-19 was effectively controlled. The epidemic had a huge impact on the domestic and international economy, including the impact on foreign trade and GDP growth, as well as the obvious negative impact of the COVID-19 on the consumption structure of the population. As the epidemic has been effectively controlled, the economy is slowly recovering. The contribution of this paper is to study the impact on the consumption status of Chinese residents after the pandemic, the extent of the impact caused is of great significance, and it serves as a revelation for the recovery of the economy in the future.

The Ties that Bind: Immigration and the Global Political Economy David Leblang and Benjamin Helms

The Ties that Bind: Immigration and the Global Political Economy David Leblang and Benjamin Helms

Учётно-контрольная система в обеспечении экономической безопасности фирмы

Under modern conditions of economic development, more and more important requirements are imposed on accounting, production, and financial systems of the organization. Accounting process is considered to be one of the most complicated. It depends on industry specifics, constantly changing legislation, as well as high degree of government regulation. Under certain crisis phenomena in the national and international economy, there is a necessity to substantiate theoretical and methodological aspects of formation and functioning of accounting and control system within the framework of organization's management mechanism. It is necessary to consider the existing mechanisms of accounting and control system, which will allow the management staff of the organization obtaining reliable information about the external and internal environment of financial and economic activities of the company. The concepts of formation of accounting and control system considered in the article allow judging the level of economic security of the organization, which forms the basis of the constituent basic elements of the activities. The purpose of the study is to develop the means to improve economic security of the company while implementing accounting and control functions of the organization. The research methodology is based on scientific research, system analysis and logical modeling of the processes and phenomena, graphical construction and of assumptions and hypotheses formation. As a result of the analysis, a list of preventive measures is proposed to prevent the threats to economic security of the system. The directions of accounting and control environment improvement are shown through augmented system of classification of threats to economic security taking into account functional goals and structural elements of accounting and control system,. The considered measures will ensure accounting and control system adaptation to the conditions of functioning in internal and external environment, will allow taking into account specific risks depending on the type of the organization activity, and will affect the efficiency and relevance of management decisions.

The ‘two lives’ of Esping‐Andersen and the revival of a research programme: Gender equality, employment and redistribution in contemporary social policy

AbstractThis article makes two conceptual contributions to social policy literature. First, we summarise key concepts and insights from Gøsta Esping‐Andersen's major books, tracing his work in ‘two lives’: ‘the foundations, or the welfare state between states and markets’ and ‘the demographic turn’. Analysing the ‘first life’, we revisit the centrality of the decommodification and social stratification concepts and the seeds of the social investment approach. Further, we explore Esping‐Andersen's masterful analysis of the double bind of the welfare state (supporting full‐employment and redistributional harmony) in a post‐industrial era and how countries belonging to different regimes have dealt with it. Through his ‘second life’, we explore the ‘impossible marriage’ between full employment and equality, and the development of the social investment approach. Our second contribution is to critically analyse a tension—generated by the shift from a broad to a narrow social policy perspective—between the two lives and how it raises questions for contemporary social policy. We suggest the field should take stock of Esping‐Andersen's work holistically, going beyond a simplistic use of welfare regime typologies and the universal proposition of a Scandinavian‐style social investment approach. This approach tends to overlook factors related to the international context (e.g., the expansion of the market logic, and questions of exchange, inflation and debt) when assessing the impact of social policy on key outcomes. Our ultimate goal is to revive a research programme based on the integration between social policy and international political economy, a programme geared at critically assessing issues related to gender equality, employment and redistribution.