Liberal Policy Research Articles

Banking Competition, Efficiency and Stability in the MENA Region

The intensification of competition in the banking market following the adoption of financial liberalisation and deregulation policies all over the world has raised questions about their impact on the stability of the banking sectors. This study aims at participating in the continuous debate on how the competition conditions in the market affects the stability of banks in the MENA region. This study exploits a sample of 216 MENA banks operating over the period 1999-2019, and adopts the GMM method to detect the association between banking competition and stability. The empirical results show that market power has a negative effect on banking stability. This result has implications suggesting that the adverse effect of concentration on banking stability implies that regulators should be careful in pushing/encouraging banks consolidate, as this may reduce stability.

Psychology, stress, insomnia, and resilience of medical staff in China during the COVID-19 policy opening: a cross-sectional survey.

Since 8 January 2023 China has liberalized its control of COVID-19. In a short period of time, the infection rate of COVID-19 in China has risen rapidly, which has brought a heavy burden to medical staff. This study aimed to investigate the psychological status, stress, insomnia, effort-reward imbalance, resilience, and influencing factors of medical staff in China during the period of epidemic policy liberalization. This survey was conducted from 6 February to 27 March 2023 with non-random sampling. An online questionnaire survey was conducted using HADS, PSS-14, ISI, ERI, and the resilience assessment scale for medical staff. The levels of psychological, stress, insomnia, effort-reward imbalance, and resilience of medical staff during the pandemic policy opening period were measured. A total of 2,038 valid questionnaires were collected. 68.5% and 53.9% of medical staff had different degrees of anxiety and depression, respectively. Excessive stress, insomnia, and high effort and low reward were 40.2%, 43.2%, and 14.2%, respectively. Gender, Profession, education level, and age are important factors that lead to anxiety and depression. Women, nurses, higher education, longer working years and hours, high effort, and low reward are risk factors for the above conditions. There was a certain correlation among the five scales, among which anxiety, depression, stress, insomnia, effort-reward imbalance, and other factors were positively correlated, while resilience was negatively correlated with these factors. This study found that anxiety, depression, stress, insomnia, and other psychological problems of medical staff in China during the policy opening period of COVID-19 were more serious than before. At the individual and organizational levels, it is necessary to improve the well-being of medical staff, optimize the allocation of human resources, and promote the mental health of medical staff with a focus on prevention and mitigation, with the entry point of improving resilience and preventing the effort-reward imbalance.

The effect of globalisation on Sub-Saharan Africa’s development thrives

In this study, the effect of globalisation (both its de jure and de facto components) on economic development in sub-Saharan Africa (SSA) is examined. The work utilises an ex-post facto research strategy and analyses panel data of 35 SSA nations from 1995 to 2018 using the Dynamic Common Correlated Effects (DCCE) estimation methodologies and the System Generalised Method of Moments (SGMM) techniques. These techniques are chosen based on their ability to account for cross-sectional dependence, cross correlation, and endogeneity. The KOF globalisation index, which takes into account the economic, social, and political aspects of globalisation as a predictor, as well as the human development index as indicators of economic development, are used in the study. The results show a strong and positive correlation between globalisation and economic development in SSA, particularly with the integration of global flows and activities (de jure and de facto globalisation index). The findings are robust to different specifications and estimation techniques. The study, therefore, concludes that globalisation could be an engine of SSA’s economic development if governments reviewed their liberalization policies to take into account globalization issues and challenges.

Industrial policy impact on competitiveness of companies and sustainable development in post-communist Kazakhstan

Industrial policy that can include industrial programs, liberalization of trade, anti-trust policy or price of capital regulation, in the context of post-communist Ka-zakhstan with its historical particularities of institutions has distinctive features. In order to develop different sectors of economy Kazakhstan government imple-mented two sequential industrial programs for 2010-2019 period. It was expected positive effect of the industrial programs and another initiatives of industrial poli-cy on survivorship of companies inside the country. However, concentration rates of companies and retailers within 20 industries that are highly dependent on indus-tries within programs, were increasing during the period of programs realization and liberalization of trade. In order to estimate which of instruments of the indus-trial policy are effective we employ logistic regression model where competitive-ness of companies is dependent on observed factors. The secondary dataset con-sists of 2271 observations at firm level obtained from Euromonitor International and official sources of Kazakhstan government. We find significant impact of Herfindahl-Hirschman index of companies and an interest rate of the National Bank of Kazakhstan on survivorship of firms rather than other instruments of in-dustrial policy in this case. The more attention the government pays to these in-struments the more companies survive.

Cooperatives as The Pillars of The Pancasila Economic Driving Force

This article describes the economic concept of Pancasila based on strategic values based on five principles developed by the founders of the country. The Indonesian economy is still an established capitalist economic system and has not yet been able to rise. During the reform period, the head of state has not been able to fully represent a humane, prosperous, and socially just economy. The economic life of the Indonesian people is still colored by policies of deregulation, privatization, and trade liberalization which are detrimental to the interests of the Indonesian people. The research method uses library research. This study shows that the Pancasila economy has the spirit of divinity, humanity, national unity, democracy, and social justice. The conclusion of this study is that the Pancasila economy exists in the form of cooperatives as the main pillar that aims to achieve the welfare of the Indonesian people.

An Evaluation of Training and Development Policies and Practices In Selected Software Companies in Bangalore

The evolution of HRM can be traced back to ancient civilizations, but its modern form emerged during the Industrial Revolution. HRM has evolved into a multidimensional field that encompasses various functions such as recruitment, training, performance appraisal, employee relations, and career development. In India, HRM is considered one of the oldest and most efficient management styles, playing a vital role in organizations and aiming to maximize human capital's return on investment while minimizing financial risks. Human Resource Development (HRD) focuses on expanding human capital within an organization through training and education. It views employees as valuable assets and aims to develop their performance through various processes. HRD aligns individual growth with organizational goals to maximize human potential and minimize financial risks. The introduction of the IT industry in India has had a significant impact on various sectors of the economy. Liberalization policies in the 1990s attracted domestic and foreign investments, leading to the establishment of multinational companies and the growth of the IT industry. The availability of skilled manpower, English proficiency, cost advantages, and supportive government policies contributed to the industry's success. The IT industry has generated significant employment opportunities and played a transformative role in India's economy, employment rates, and technological advancements. Keywords: Human resource management, employee engagement, Training and development, recruitment, software industry

The Impact of the New Policy Changes on the Tourism Industry of COVID-19: Evidence from the Chinese Market

The background of the study is about whether the COVID-19 pandemic will have an impact on the industry or not. Secondly, the motivation of the research is to give some suggestions and policies to the tourism industry in response to the COVID-19 epidemic. The influence on the tourism industry can be better analyzed through the example of China's free trade Organization. The two data in this paper are the rise and fall range of stocks before the epidemic and the rise and fall range after the policy liberalization. The data used in the second data is relatively new, because it is about 2023 after the new policy is lifted. Therefore, this study has important practical significance for the development of the industry, especially for the development of tourism. The COVID-19 pandemic is having an impact on the travel industry. It also gives some suggestions for the tourism industry, such as launching more online activities or changing company policies.

Why are the police against drug policy liberalisation?

Why are the police against drug policy liberalisation?

Intergenerational caregiving on mental health of middle-aged and older adults in China: empirical insights.

The impact of intergenerational caregiving on the mental health of providers remains a controversial topic, especially in countries like China where it is prevalent. Given the country's aging population and recent liberalization of the two-child policy, understanding the effects of intergenerational caregiving on the mental health of middle-aged and older adult(s) individuals is crucial. This study aimed to explore the impact of intergenerational caregiving on mental health among middle-aged and older adult(s) individuals. We analyzed data from the China Health and Aging Tracking Survey (CHARLS) 2013, consisting of 6602 participants finally. Personal information, family structure, financial support, health status, and physical measurements were selected for analysis. Correlation and regression analyses were used for relationships among variables controlling for potential confounding variables. Mental health status was evaluated using the depression self-rating scale. There is a significant positive effect of intergenerational care on the mental health of middle-aged and older adult(s) people. Additionally, we re-profiled intergenerational care variables by considering the number and length of intergenerational caregivers, and found that the effects remained significant. Furthermore, the effects of intergenerational care vary across subgroups based on gender, age, nature of usual residence, marital status, and physical health status. Finally, we identified two mechanisms through which intergenerational caregiving positively affects mental health: intergenerational financial support and intergenerational spiritual support. These findings have important implications for policymakers, healthcare professionals, and family members in promoting the mental health of middle-aged and older adult(s) individuals in China.

Spatiotemporal analysis of fine particulate matter for India (1980–2021) from MERRA-2 using ensemble machine learning

Particle exposure affects more humans globally than any other air pollutant. However, due to expensive instruments and infrastructural deficiency, a high spatiotemporal network of monitoring stations is not possible, leading to data-scarce regions. Satellite and reanalysis datasets can be implemented to estimate particulate matter, but they do not provide surface concentration and needs to be reconstructed from the components. In this study, a machine learning (ML) framework is implemented to reconstruct PM2.5 from MERRA-2 data components, namely black carbon (BC), organic carbon (OC), dust (DUST), sea salt (SS), and sulfate (SO4) mass concentration. The ground-level data were collected from India's 335 continuous ambient air quality monitoring stations (CAAQMS) and respective MERRA-2 data for 2017–2021 at hourly resolution. Random forest (RF) performs better with train and test scores (R2) of 0.84 and 0.73, respectively, while the empirical equation provides an R2 of only 0.26 on test data. The estimated PM2.5 for Indian states from 1980 to 2021 indicates a significant increase in most cases. However, states in the Indo-Gangetic plain such as Delhi, Punjab, Haryana, and Uttar Pradesh, are the most polluted regions of India. The major shift in concentration is from 2000 onwards, which can be seen as a direct result of the economic liberalization policies implemented in 1991. The results provide evidence for the limitations of the broad application of the empirical equation and the feasibility of ML algorithms as a potential reconstruction technique for developing robust and accurate region-specific models from MERRA-2 data.

Liberalisation and spatio- temporal patterns of air traffic flow from Nigeria to West Africa

Abstract The liberalisation of aviation policies across Africa has had a significant impact on air traffic flow within the region. This study aims to examine the effects of this policy, with a specific focus on Nigeria’s regional connectivity to other West African countries. By analyzing data from the pre and post-liberalisation eras, the study aims to determine the changes in passenger and aircraft movement and evaluate the significance of the policy on Nigeria’s sub-region. The study utilizes a longitudinal data set covering the period between 1988 and 2018. This data is divided into two eras: the pre-liberalisation era (1988-2000) and the post-liberalisation era (2001-2018). To assess the impact of liberalisation, a t-test is conducted on the data, comparing the air traffic flow patterns before and after the implementation of liberalisation policies.The findings reveal a substantial improvement in the air traffic flow of passengers and aircraft from Nigeria to other West African countries since the introduction of liberalisation policies. The growth patterns observed in the post-liberalisation era exhibit a linear trend, indicating sustained progress. However, uncertainties arising from hazards in air transport operations can influence the growth patterns.The study underscores the positive impact of African aviation liberalisation policy on air traffic flow, particularly in the regional context of Nigeria’s connectivity with other West African countries. The results demonstrate significant improvements in passenger and aircraft movement. However, to fully capitalize on the benefits of liberalisation, regional efforts and an improved framework need to be intensified. This will ensure sustained growth and maximize the advantages of liberalisation in the aviation sector.

Weeding out the Truth: A Survey Experiment on the Role of Scientific Evidence in Shaping Public Opinion on Marijuana Policy

PurposeThis study aims to explore the extent to which different forms of scientific research on the criminogenic effects of marijuana use impact public opinion on marijuana-related policy issues. MethodsWe conducted an experimental priming survey using Qualtrics, targeting heads of households in South Carolina with associated email addresses. Multiple OLS regression models were employed to analyze single-item and aggregate scores of our dependent variables. ResultsOur findings reveal that, except for the policy regarding the immediate release of a convicted offender, scientific research on the criminogenic effects of marijuana use did not significantly or substantively influence public perceptions of cannabis policies. Factors such as perceptions of police legitimacy, legal orientation, trust in law enforcement, and conservative or moderate political inclinations were significantly correlated with various outcomes. ConclusionsRespondents primed with research suggesting a link between marijuana use and an increased likelihood of engaging in violent and property crimes were more inclined to disapprove of releasing non-violent cannabis offenders from incarceration. However, exposure to scientific research generally did not influence participants' support or disapproval of other policies promoting the liberalization of marijuana-related policies. The study also discusses potential research and policy implications.

Financial Intermediation and Economic Growth: Evidence from Nepal

Purpose - This study aims to investigate the role of financial intermediation in Nepalese economic growth using time-series data over the period from 1974 to 2019. In order to establish the relationship, GDP per capita is used as a proxy for economic growth, while private sector credit, commercial bank assets, and the broad money supply serve as proxy measures of financial intermediation.
 Design/Methodology/Approach - To obtain empirical results, the Johansen test of co-integration, the vector error correction model, and the Granger causality test are applied.
 Findings - The results support finance-led growth in Nepal, implying that financial intermediation is positively associated with economic growth in the long run. A positive association with total trade was observed in the short run, but a negative effect was found in the long run. Granger causality tests indicate that the broad money supply and commercial bank assets are bidirectionally related to Nepal’s economic growth, while private sector credit is unidirectional.
 Research Implications - The findings suggest that if central bank authorities prioritized monetary policy tools, it may foster economic growth in Nepal in both the short- and long terms. In addition, for the persistent growth of the Nepalese economy, the banking sector should be reformed by employing more liberal policies. The study also suggests that policymakers should take immediate action to correct the direction of Nepalese foreign trade.

Entrepreneurship of Bukharan Jews during Economic Modernization of Central Asia in the Early XX Century: Yusuf Davydov Trading House

In the early XX century, Turkestan represented a remarkable model of economic modernization. Russian commercial banks and the local bourgeoisie welcomed the economic integration of the Central Asian periphery into the Russian Empire. Bukharan Jews had found their economic niche by the 1860s: they traded in cotton and acted as intermediaries between Turkestan cotton producers and Russian textile workers. However, the segregationist policy in the regional industry prohibited them to establish trading houses and, therefore, restricted their ability to obtain bank loans. Eventually, the liberal economic policy initiated by Prime Minister Sergei Yu. Witte facilitated the reorganization of Bukharan-Jewish enterprises. The patriarchal family businesses turned into modern trading and industrial companies, e.g., the Davydov Trading House, the Vadyaev Brothers, etc. The National Bank and the Russian Commercial Bank opened their outlets in the most important commercial and industrial centers of Turkestan, which was another important step towards economic modernization. This article focuses on the role of Russian commercial banks in the activities of Bukharan-Jewish business circles during the modernization of the Central Asian periphery of the Russian Empire in the early XX century. The Davydov Trading House was reorganized in 1906 and became a leader in the cotton trading market. It used the loans from Russian banks to build cotton ginning factories, breweries, and an internal network of seed-cotton suppliers. Unlike the Vadyaev Brothers, the Davidov family failed to create a stable family business model: in the summer of 1914, the Trading House and all its property were controlled by a committee board established by the major creditors from among the Russian commercial banks. In spite of the Great War, the board managed to save the Davydov Trading House from bankruptcy and modernized its operations.

OECD Ülkeleri Örneğinde Türkiye’nin İhracat Analizi: 1982Q1 ve 2021Q1

International economics is a field that primarily examines the liberalization of trade and its impact on a country’s gross domestic product (GDP). The trade policies in the World economy, specifically Türkiye as a developing economy, have experienced different cycles since the 1980s, and Türkiye has been following liberal trade policies in an attempt to overcome instabilities in its economy since 24 January 1980. In particular, the long-term, including, the 1994, 2001, 2018 currency crises in Türkiye, the 1997 Asia, the 2007-2009 global financial crisis, and the 2020-2022 Covid 19 global recession, further increases significance of the analysis. This article specifically explores the effects of neo-liberal trade policies on Türkiye and its primary export market, the OECD countries. In particular, the impact of changes in the OECD Countries’ GDP on Turkish exports is analyzed in relation to the Terms of Trade (TOT) and foreign exchange (FX) volatility of the Turkish Lira through Auto Regressive Distributed Lag (ARDL) method. The results reveal that Türkiye’s exports follow a statistically significant correlation with OECD’s GDP and FX volatility but not with the TOT for the period between 1982Q1 to 2021Q1. However, the lagged variables evaluated by the ADRL method indicate that five periods of lagging Turkish exports have a statistically significant relationship with two periods of lagging GDP of OECD, and one period of lagging FX, as well as with one period of lagging TOT. This article also offers valuable insights into the impact of exceptional events like COVID-19 pandemic on national economies, thus findings presented in this paper can help governments and policy makers predict potential implications of other extraordinary circumstances or global disasters and make informed decisions to mitigate their impact on the national economy. This is a long term analysis of neoliberal FX policies applied in Türkiye.

India’s ‘Act-East’ Responses to the Strategic Realities in the Indo-Pacific Region: A Review

The geopolitical standpoint of India’s foreign policy has focused on soft power dynamics, cultural rejuvenation, and political connection with the diaspora. With the intent to pursue a good neighborhood policy, to promote regional economic cooperation and to revitalize the essence of regionalism India articulated a liberal foreign policy perspective under the guidance of Inder Kumar Gujral during his tenure as Foreign Minister and Prime Minister in 1996-98. The approach gained considerable acceptability and relevance among Gujral successors. Both Vajpayee of the Bharatiya Janata Party, or BJP and Manmohan Singh of the Congress Party supported the rationale of the so-called Gujral Doctrine. As the Indian economy began to accelerate, the pursuit of integrating the region received a pragmatic dimension. Regional institutions like the ASEAN (Association of South -East Asian Nations) play a pivotal role in facilitating the development of regional identity in the world’s most economically vibrant region. It was apprehended that incompetence on part of India to cultivate relations with its neighbors would lead to further Chinese penetration to the zone of India’s natural hinterland and traditionally an exclusive sphere of influence. India’s apprehensions about Chinese ingress were so strong that New Delhi actively worked to include Western powers into an observer role in the regional forum of SAARC, when Pakistan and Bangladesh urged for a more formal Chinese role in the subcontinent. The Indian foreign policy establishment emphasized the attributes of building a peaceful periphery rendering greater access to the Indian market through unilateral economic concessions if necessary, and focused on the Indian relevance to make its neighbors feel amicable in their collaboration with India with a view to strengthen India’s strategic links with the neighbors rather than merely protesting to their defense ties with Beijing. This study aims to focus on the relevance of India-ASEAN collaboration in addressing to the strategic realities of the Indo-Pacific region.

Каналы и механизмы трансляции идей новых религиозных движений в информационном пространстве социальных медиа

In the article, the authors identify and describe the role of the media in broadcasting content about new religious movements (on the example of the Scientol- ogy movement) on the Russian Internet. The Kribrum social media analysis system is used as a technical tool. The authors put into the project a model that included 80 concepts for the Center of Scientology and 1,242 concepts for Russian social institu- tions. The authors consider the periods 01/01/2018-12/31/2019 (stable social situation) and 01/01/2020-23/02/2022 (coronavirus crisis). The authors identify popular authors who wrote about Scientology in each of the periods. Media are grouped according to their legal status: official state media; private Russian media and bloggers; media and NGOs that are recognized as foreign agents; international media and their affiliates in Russia; other media (entertainment media, bloggers and users). The main channels for broadcasting content about Scientology were private media and bloggers. It was they who explained and broadcast material about Scientology on the Russian Internet. Their publications justified the activities of Scientology in Russia, declared the need for a liberal policy, demonized the state-confessional policy, the political system, the polit- ical system of Russia, and dehumanized academic child psychology. State Russian media in the news gave only the facts of the event, but the news was not interpreted, discussed or distributed.

Pollution, trade liberalization, and urban unemployment

ABSTRACT We set up a theoretical model to analyze the effects of environmental policy and trade policy on pollution and unemployment. We find that the level of global pollution would fall due to a rise in the environment tax and prove that if the external effect dominates the direct effect then a rise in the environment tax would lead to a reduction in the unemployment rate, and vice versa. In addition, we claim that if the external effect dominates the trade effect then the trade liberalization policy will lead to a reduction in the unemployment rate, and vice versa.

Economic Evolution of The Nigerian Telecommunication Industry: Emne’s and Downstream Value Chain Transmission

Recent developments in the Nigerian telecommunication industry have significantly been attracting multinational investors from emerging markets into the country, especially from African and Asian countries. This has led to massive influx of investors into the country’s Global System for Mobile (GSM)communications market since 2001. This paper investigates the value chain effect of these developments on the telecommunications sector of the Nigerian economy. There is focus on the industry itself, subsidiary industries as well as the downstream value chain creation arising from the influx of emerging markets multinational enterprises (EMNEs) into the sector. Using basic statistical techniques, the study finds that the entrance of the multinational investors into the industry following the market liberalization policy of 1999 has not only created a vibrant telecommunications market but also enhanced the value chain on the Nigerian economy at large. The findings of this study provide further insight into the value chain creation debate as it concerns the telecommunications industry not just in Nigeria but in countries of similar economic stature and structure. Additionally, the findings are important to the regulators and policy makers in developed and developing economies alike, for evidence-based policies.

Preoperative fasting in children-Experiences with implementing aliberal fasting policy

Traditional fasting rules for children prior to elective operations ("6‑4‑2 rule") often lead to prolonged fasting times with possible adverse events (discomfort, hypoglycemia, metabolic disorders, agitation/delirium). Anew liberal fasting policy allowing children to drink clear fluids until being called to the operating room ("6‑4‑0") was established in our university hospital. This article describes our experiences and retrospectively examines the effects. Evaluation of real fasting times before and up to 6 months after the intervention (success and durability of changing fasting policy). Evaluation of impact on outcome parameters, such as patients' resp. parents' satisfaction as well as perioperative agitation, arterial hypotension after induction and postoperative nausea and vomiting (PONV). Retrospective evaluation of methods and interventions from 1 month before to 6 months after changing the fasting policy (June-December 2020). Statistical analysis using descriptive statistics, odds ratio and χ2-test. Of 216 analyzed patients 44 were in the pre-change group and 172 in the post-change group. We could significantly reduce clear fluids fasting times over the 6 months after the intervention (median fasting time: from 6.1 h to 4.5 h; p = 0.034) and achieve our aim (fasting time for clear fluids less than or equal to 2h) in 47% of the patients. Fasting times became longer again reaching pre-change intervals in the 4th and 5th month, so reminder measures turned out to be necessary. By reminding the staff we could reduce fasting times again in the 6th month and restore patients' resp. parents' satisfaction. Satisfaction was improved by shorter fasting times (median school grade from 2.8 to 2.2; p = 0.004; odds ratio for better satisfaction 5.24, 2.1-13.2), and preoperative agitation was reduced (agitation modified PAED scale 1-2 in only 34.5% instead of 50%, p = 0.032). In the liberal fasting group, we observed anonsignificant smaller incidence of hypotension after induction (7% vs. 14%, p = 0.26) while PONV was too rare in both groups for statistical purposes. With multiple interventions we could significantly reduce fasting times for clear fluids and improve patients' resp. parents' satisfaction as well as preoperative agitation. These interventions included regular presence in all staff meetings, ahandout for both parents and staff, as well as aremark on the anesthesia protocol. Children who were operated on later in the day, benefited most from the new liberal fasting policy as they were allowed to drink until being called to the operating room. Following our experience, we consider simple and safe fasting rules for the whole staff as most important for change management. Nevertheless, we could not reduce the fasting intervals in all cases and had to remind the staff after 5 months to preserve this success. For enduring success, we suggest regular staff updates during the change process instead of one single kick-off information event.