Market Regulation Research Articles

Reformulation of Digital Market Regulations Against Indications of Monopolistic Practices in the Digital Spaces (Indonesian Perspective)

This research aims to analyze indications of monopolistic practices in the digital space and find formulations for digital market regulation to create a fairer digital ecosystem. Law No. 5 of 1999 concerning the Prohibition of Monopolistic Practices and Unfair Business Competition does not yet specifically regulate the prohibition of monopolistic practices and unfair business competition in the digital space, so the incompleteness of this regulation needs to be investigated further. This research was conducted using a normative juridical approach. The results of this research show that indications of monopolistic practices in the digital space are related to the unclear categories of business actors who sell at a loss in e-commerce and the combination of social media and e-commerce. Based on these weaknesses, the author obtains a formulation based on the Digital Markets Act regulations in the European Union which creates "gatekeepers" in the digital economy to create a healthy market.

GOVERNMENT INVESTMENT FOR ADDRESSING THE INTERSECTION OF EDUCATION, LABOR MARKET MISMATCH, AND CRIMINAL BEHAVIOR: ANTICIPATED OUTCOMES AND IMPLICATIONS

Several expected results from government expenditure, education, and labour market regulations are revealed when one examines the complex interaction between education, labour market mismatch, and criminal behaviour. Government spending on education is projected to increase graduation rates and student performance, among other observable advantages. The likelihood of a mismatch between job capabilities and market demand may be decreased as a result of a more trained workforce. Investments in employment agencies and job placement services may also help job seekers find positions that fit their qualifications, enhancing job satisfaction and lowering instances of labour market mismatch. Additionally, government initiatives to lessen income disparity through progressive taxation and social safety nets may improve economic stability, so averting the economic unrest that is frequently associated with criminal activity. Initiatives for preventing crime, such as counselling, assistance with finding a job, and skill-building programmes, may provide those who may otherwise turn to crime out of job dissatisfaction an alternative route to success and a decrease in criminal activity. Investments in mental health services and addiction treatment programmes are anticipated to enhance mental health and decrease substance misuse, two factors linked to criminal behaviour. By providing prisoners with the knowledge and skills they need for successful work after release, education programmes within correctional facilities are expected to lessen recidivism rates. Last but not least, government-funded research initiatives may give light on the viability of various strategies, providing a foundation for evidence-based policies that concentrate on tackling the complex problems at the confluence of education, labour markets, and criminal behaviour. Although these anticipated results present a bright image, it is important to recognize that outcomes may differ depending on implementation strategies, local socioeconomic situations, and community demographics. To effectively handle the numerous difficulties within this sector, ongoing assessment and policy improvement are essential.

The Impact of Stock Market Development on Economic Growth a Case of Malaysia

The stock market is important among many financial markets. Stock Market Development is one of the enabling factors for Economic Growth. The recession crisis occurred a few times and badly affected Malaysia's Economic Growth (GDP) and Stock Market Development (SMD). Also, during the recent pandemic of COVID-19, there was a different reaction by investors and individuals overall towards the economy in Malaysia. There were inconsistent trends when the global recession in 2008 happened and COVID-19 started to spread in Malaysia for both SMD and GDP. This study aims to determine the relationship between SMD and GDP in Malaysia. Using Market Capitalization (MCAP) (as a proxy to (SMD)), Exchange Rate (EXC) and Trade Openness (TRADE) as independent variables and GDP as the dependent variable. Data from 1981 to 2020 is analyzed using Granger causality, and the ARDL method along with applying the Endogenous Growth theory. The findings of the ARDL long-run test suggested that SMD and TRADE have a positive and statistically insignificant relationship with GDP. EXC has a negative and statistically significant relationship with GDP. Granger causality test suggested a bidirectional relationship between EXC and TRADE with GDP. There is a unidirectional causality between SMD and GDP where GDP Granger causes SMD. To improve market regulation, The government should ensure the stock market is well-regulated and transparent, boost investor confidence, and increase market investment. Encouraging trade openness and exports can also help increase exchange rates and boost ringgit's demand.

THE EFFECT OF FOOD PRICE VOLATILITY (FPV) ON INFLATION IN PAREPARE CITY

Food price volatility often occurs and cannot be avoided, including food price volatility that occurs in Parepare City. The effect of movement or changes in food prices appears to influence inflation, which in turn becomes the purpose of this study, namely to analyze the effect of changes in food prices on inflation in Parepare City. The analysis method used is multiple linear regression analysis. The data used is secondary data in the form of monthly time series from July 2018 to June 2021. The independent variables in this study are the food prices of rice, chicken meat, red chili, chicken eggs and granulated sugar. The results showed that the food prices of rice and chicken eggs have an increasing trend while the prices of chicken meat, red chili, and granulated sugar tend to decrease. The coefficient of determination test results shows that changes in food prices simultaneously positively and significantly affect inflation. The t-statistical test shows that partially changes in food prices of rice and chicken meat have a positive and significant effect on inflation while changes in food prices of red chili, chicken eggs and granulated sugar have a positive but insignificant effect on inflation. This research has implications for public policy to develop food prices stabilization policies, such as food reserve policies, market regulations, incentives for food producers, or social assistance programs to alleviate the impact of food inflation.

The Fabric of Transition: Unraveling the Weave of Labor Dynamics, Economic Structures, and Innovation on Income Disparities in Central and Eastern Europe Nations

In recent years, the issue of income inequality has ascended to the forefront of national and international agendas, underscored by the urgency to navigate the complexities of market-driven economies without exacerbating social disparities. These challenges are particularly pronounced in the post-communist nations of Central and Eastern Europe, where the transition legacy and the marketization forces present unique dynamics in the evolution of income disparities. This research investigates the intricate mechanisms through which marketization impacts income inequality within the Central and Eastern European countries context, aiming to uncover how economic transformations influenced by global sustainability goals can contribute to narrowing the income gap. By employing panel data estimation techniques and Generalized Method of Moments (GMM) analysis, this study highlights the enduring nature of income disparities and the critical roles played by economic growth, education investment, labor market reforms, globalization, and governance quality in shaping equitable income distributions. Findings reveal that, despite the competitive nature of market economies potentially creating disparities, strategic policy interventions in education, economic policy, and labor market regulations can mitigate the adverse effects of marketization on income inequality. Additionally, this research emphasizes the importance of strong institutional frameworks and the nuanced role of the informal economy in influencing income distribution dynamics.

Regulatory control over the electricity market in Ukraine: the problem of duplication of powers

The purpose of this article is to substantiate the existence of the problem of duplication of powers in the system of regulatory control over the electricity market in Ukraine and to determine ways to solve it. This research task should be carried out using, first of all, the formal-dogmatic method within the framework of a critical assessment of the relevant legislative provisions, perceiving them being detached from the environment of their application, as well as relying on the method of legal and institutional modeling to outline the organizational and legal contours of the system of regulatory control over the electricity market in Ukraine. Results: the subject matter of regulatory control (supervision) over the electric power industry carried out by the State Energy Supervision Inspectorate of Ukraine covers the production, transmission, distribution of electric energy, energy storage, as well as the use of energy for their own needs by market participants in part of technical operation of power plants and networks, energy equipment, testing and repair of power plants and networks, performance of works on the design of power plants and networks, while the National Energy and Public Utilities Regulatory Commission carries out regulatory control over compliance by economic entities carrying out activities in the fields of energy with legislation in this area as well as with the licensing conditions by conducting scheduled and unscheduled on-site, as well as off-site inspections in accordance with the control procedures approved by this commission. Conclusions: the optimal institutional reform designed to ensure the exclusivity and indivisibility of powers regarding regulatory supervision (control) over the electric power market appears to be the concentration of these powers in the field of competence of the National Energy and Public Utilities Regulatory Commission as an independent market regulator with a complete and self-sufficient complex of control and supervision measures, which can be enriched with the prepared proposals on reforming the procedures of activity of the State Energy Supervision Inspectorate of Ukraine.

Biomarker Assessment of Nicotine Exposure Among Adolescent E-Cigarette Users: 2018-2019.

Despite the increasing prevalence of vaping e-cigarettes among adolescents, there remains a lack of population-level assessments regarding the objective measurement of nicotine exposure. This study analyzed a nationally representative sample of adolescents aged 13 to 17 years from Wave 5 of the Population Assessment of Tobacco and Health Study conducted between 2018 and 2019. Urinary nicotine metabolites, including cotinine and trans-3'-hydroxycotinine (3-HC), were assessed among exclusive nonnicotine e-cigarette users (n = 56), exclusive nicotine e-cigarette users (n = 200), and nonusers (n = 1059). We further examined nicotine exposure by past 30-day vaping frequency (ie, occasional [1-5 days], intermittent [6-19 days], and frequent [20+ days]) and flavor types among nicotine e-cigarette users. Multivariable linear regressions tested pairwise group effects, and biomarkers were normalized by the log transformation. Compared with nonusers, both nonnicotine and nicotine e-cigarette users exhibited higher levels of cotinine and 3-HC. Nicotine e-cigarette users had mean cotinine concentrations (61.3; 95% confidence interval, 23.8-158.0, ng/mg creatinine) approximately 146 times higher (P < .0001) than nonusers (0.4; 0.3-0.5), whereas nonnicotine users (4.9; 1.0-23.2) exhibited cotinine concentrations ∼12 times higher (P = .02). Among nicotine e-cigarette users, the levels of cotinine and 3-HC increased by vaping frequency, with cotinine increasing from 10.1 (2.5-40.1) among occasional users to 73.6 (31.8-170.6) among intermittent users and 949.1 (482.5-1866.9) among frequent users. Nicotine exposure was not significantly different by flavor type. E-cigarette use poses health-related risks resulting from nicotine exposure among adolescents. Comprehensive regulations of e-cigarette products and marketing, vaping prevention, cessation, and public policies are needed to prevent youth from developing nicotine addiction.

Labor market regulation and the cyclicality of involuntary part-time work

In times of economic crisis, many employers in liberal labor markets reduce their employees’ working hours, which leads to an increase in the incidence of involuntary part-time work. We analyze the effectiveness of working time regulation in preventing such an increase during downswings. For this we look at the case of Germany, where hours adjustments are highly restricted by law. Using a state-level panel regression approach, we find that the incidence of involuntary part-time work is positively associated with the unemployment rate but that the association is much weaker than in the US and in the UK. Transition probabilities between employment states over the cycle suggest two particular underlying mechanisms: First, already employed workers are more likely to want a full-time position in economic downturns (“added hours effect”). Second, job seekers make concessions with regards to their desired hours when labor market conditions are bad (“reservation hours effect”). We are the first to document these margins of cyclical hours adjustments which are fundamentally different from those in less regulated labor markets, where the cyclicality of involuntary part-time work is predominantly driven by hours changes at the same employer.

Financial market regulation and private law: a new frontier of transnational commercial law

Abstract Global financial markets are among the most extensively regulated markets in the world economy. This poses significant challenges from a private law perspective when regulatory rules interfere with private rights and obligations. This article examines the potential of transnational commercial law (TCL) to provide for a private law framework suited to the regulatory reality in global financial markets. The article finds that, while regulatory aspects are generally excluded from TCL instruments, notable exceptions to this general rule occur. Based on an analysis of the approaches undertaken in the Unidroit Convention of Substantive Rules for Intermediated Securities (Geneva Convention), including the accompanying Legislative Guide, the Unidroit Principles on the Operation of Close-Out Netting Provisions and the UNCITRAL Model Law on Secured Transactions, the article maps out three methods that allow for a reconciliation of private and regulatory rules: (i) the adoption of a flexible private law system including default and conflict rules; (ii) the use of opening clauses to allow deviations from TCL rules in accordance with international regulatory standards; and (iii) a codificatory approach through the development of a comprehensive and systematic legal framework consisting of both private law and regulatory rules. Finally, the article addresses potential obstacles and objections that future TCL instruments will face when addressing regulatory aspects. Overall, the article argues that an efficient financial market requires a foreseeable set of private law rules that—considering the continuous expansion of regulatory law—must address the pressing issues deriving from the interrelation of regulation and private law. However, the adaption of TCL instruments should be limited to common-sense financial market regulation that, even if differing from State to State, generally follows globally shared regulatory goals.

Current Challenges in Operation, Performance, and Maintenance of Photovoltaic Panels

The installed solar capacity in the European Union has expanded rapidly in recent years. The production of these plants is stochastic and highly dependent on the weather. However, many factors should be considered together to estimate the expected output according to the weather forecast so that these new PV plants can operate at maximum capacity. Plants must be operated in coordination with maintenance operations and considering actual energy market prices. Various methods have recently been developed in the literature, ranging from the most impactful artificial-intelligence-based generation estimation methods to various diagnostic and maintenance methods. Moreover, the optimal operational and maintenance strategy usually depends on market regulation, and there are many concerns related to the distribution system operator. This review article aims to summarize and illustrate the challenges of operating and maintaining solar power plants and the economic and technical importance of these problems.

CPD: Improving practice communication 4

This fourth article by Fiona Anderson discusses the different marketing mediums, laws and regulations that apply to adverts and online behaviour

Capital Market Efficiency and Economic Growth: Evidence from Bangladesh

This study explores the influence of capital market efficiency on Bangladesh’s economic growth, using time series data covering market capitalization, total market turnover, and stock price indices from 2011 to 2022. The application of a multiple regression model reveals that the Bangladesh capital market has the potential to contribute significantly to the country’s economic growth. This potential is attributed to the notable characteristics of high market capitalization and relatively robust market liquidity. Consequently, it is recommended that market organizations and regulations be structured to attract a substantial number of both domestic and foreign investors, encouraging substantial listings, investments, and trading. Such measures are crucial to achieving the central objective of optimally allocating economic resources for the sustained and resilient growth of the nation.

The Need to Harmonize the Labor Legislation of Pharmaceutical Workers of the Member States of the Eurasian Economic Union (EAEU)

The paper is devoted to topical issues of legal regulation of the work of pharmaceutical workers both at the level of international legal acts of the Eurasian Economic Union (EAEU) and at the level of national legislation of the member states. These problems include the lack of a uniform integrated approach to the regulation of the work of pharmaceutical workers in international legal acts and its fragmentation. This leads to a decrease in the effectiveness of legal regulation of these categories of subjects of labor law. The situation gives rise to two dialectically interrelated trends at the EAEU level. On the one hand, international legal acts on the drug market of this organization contain norms that regulate the work of pharmaceutical workers. On the other hand, these norms do not cover all aspects of the work of pharmaceutical workers. The solution to this problem is seen in changing the international legal acts of the EAEU on the drug market by stipulating the norms regulating the work of pharmaceutical workers, considered in a single system and in close relationship with pharmaceutical activities. This is possible through the analysis, and in the future, the use of positive legal experience in regulating the labor of pharmaceutical workers in the EAEU countries to develop separate sections of the international legal acts of the EAEU in the field of regulation of the pharmaceutical market (in the form of appendices thereto).

Why State Power Pivotal to Economic Growth? A Review of Firms’ Performance in Dynamic Economies

Market regulations, governmental capital, and politically connected managerial teams are incrementally functioned, together with private-owned capital flows perennially. This paper reviews how macro-environment determinants, state-owned capital, as well as managers with connections affecting corporate performance in dynamic economies, such as China, Malaysia, and Nigeria. The findings clearly indicate that firms with politically connected manager and state-owned capital outperform in China, with higher IPO approvals, governing roles as informal structure, and tax benefits. The research has also shown that stability lays a foundation for businesses to strive.

Green Finance Promoting the Growth of Total Factor Productivity

In green finance law as the research object, with green total factor productivity, trying to build green finance law under the market regulation perspective and green, the theoretical framework of total factor productivity, explore green finance law and green total factor productivity of internal logic relationship, in order to get a more objective and robust conclusion, based on the theoretical study, by adopting a measuring model of space, From the static and dynamic dimensions, this paper systematically verifies the effect on the productivity of green total factors in China.

Market Structure, Profitability and Regulation of Telecommunication Industry in India

The telecom industry in India has witnessed exponential growth in the past decade; however, its profitability has been on the decline post 2008. This study analyzes the determinants of profitability of the industry during 2010–2022 using the conventional structure-conduct-performance paradigm. We estimate a dynamic panel data model to understand the role of endogeneity and profit persistence in the industry. Our findings are contrary to what the theory predicts and highlight the importance of the regulatory and institutional framework of the industry. Results suggest that there is profit persistence in the industry. The study finds that among conduct variables, export intensity has a positive impact while selling intensity has a negative impact on profitability. While size is not significant, concentration has a negative impact on profitability. Import has a negative impact on profitability. These results suggest that as the telecom industry transitioned from a monopoly to an oligopolistic market with players competing in different domains and services, selling and advertisement intensity has diminishing returns to profitability while export intensity emerges as an important driver of profitability. Results also suggest the importance of the production-linked incentive scheme encouraging exports and the need for regulating concentration and encouraging import substitution.

When decarbonization rhymes with industrialization. The political dilemmas of increasing wood usage within the French construction industry

ABSTRACT Because the building industry is a massive contributor to GHS emissions and energy consumption, France’s low carbon strategy has set it ambitious objectives: complete decarbonization by 2050. To achieve this, construction in wood (currently 10% of market share) must increase significantly. This article addresses the economic and political challenge of promoting this growth. Adopting an analytical framework combining political economy and policy analysis, we analyse ‘political work’ undertaken to articulate relevant industrial and climate policies. First, we show how ‘a lack of competitiveness’ of the wood industry has been reproblematized to reconcile this framing with climate policy objectives. Then we analyze policies which address market regulation, the supply of wood and financial investments in the wood and construction industries. Finally, we argue that today regulating the wood segment of the construction industry faces two dilemmas. A sovereignty dilemma refers to differing degrees of actor willingness to foster French wood products without hampering climatization objectives. A territorial dilemma arises concerning the pathway to industrialization built by its promoters and, in particular, how territories at ‘the French margins’ might benefit from this economic opportunity.

EU Regulation of the Crypto-Assets Market

Abstract The present paper discusses the issue of regulation of the crypto-assets market. This area is still struggling with a lack of legislation, and there are only some initiatives to regulate the market. The aim of the article is to analyse the state of legal regulation of the crypto-assets market while simultaneously pointing out problematic issues with de lege ferenda proposals. For this purpose, we established two hypotheses: the crypto-assets market needs to be regulated by legal acts of a European nature (H1), and the adopted EU legal acts regulating the crypto-assets market are adequate and sufficient (H2). Several types of scientific papers, such as analysis, synthesis, and the historical method, were used in the preparation of this paper.

Economic enhancement and grid‐frequency control of a wind farm‐CAES‐fuel cell‐based hybrid system

AbstractIn the present era, the electrical network faces difficulty owing to the restricted supply of conventional energy resources. Solar and wind power are supremely acceptable renewable energy around the globe due to their cheap availability, zero fuel costs, and environmental safety features. Maintaining power balance in a renewable combined day‐ahead power network becomes challenging owing to the uncertainty of renewable sources, resulting in economic instability. An energy‐storing device is essential for combining renewable sources with existing thermal power plants to control the energy supply and maintain system stability. Any government agency in the deregulated market does not set up energy pricing. The ISO (independent system operator) is the primary organization in the day‐ahead power network that is responsible for collecting energy bids from DISCOs (distribution companies), TRANSCOs (transmission companies), and GENCOs (generation companies). The energy pricing is set by the market regulator at a rate known as Location‐based marginal pricing (LBMP), which provides benefits to GENCOs, and DISCOs as well as the customers. In a deregulated market, the unpredictability of renewable sources affects system profit owing to the creation of instability cost (ISC), induced by mismatching the bidding power production from the renewable plant. To lessen these concerns, the presented approach has proposed an innovative model that employs ideal scheduling of the WF (wind‐farm)‐CAES (compressed‐air‐energy‐storage)‐fuel cell (FC) hybrid systems to enhance system economic profitability while keeping the grid frequency (GF) in the safe zone. The fuel cell acts as the energy‐storing device that can be utilized during high‐demand times on the grid, with the ultimate goal of maximizing profits for the overall system. The CAES system's energy level is separated into four dissimilar points, and this study presents an optimum approach for efficiently using it to maintain grid frequency. The new strategy outperformed the previous methods in all categories. The study was performed using the IEEE 30 bus test system.

The on-line turnover of biologically active additives. Part I. Legal regulation of on-line market of imported biologically active additives in Russia

The interest of population to biologically active additives drastically increased both due to consequences of the COVID-19 corona-virus infection and dynamic development of online trade and active propaganda of healthy lifestyle through mass media. Such production contains in its compound substances that are necessary for maintaining normal vital activity of organism and increasing human immunity. In other cases it can be used as additional and auxiliary agent of treatment of various diseases. In Russia, biologically active additives can be sold through three channels: pharmacies, on-line market and network marketing. In Russia, the results of monitoring of on-line market in 2021-2022 testifies that purchasing of such biologically active additives at on-line platforms turned out to be the riskiest action for human life and health. The biologically active additives were sold at on-line market with serious violations that confirms their danger to health and in some cases for human life. The study demonstrated that nowadays there is no clear-cut legal regulation of turn-over of imported biologically active additives at on-line market. The article presents detailed analysis of normative legal field that regulates in Russia on-line trade of imported biologically active additives and relevant conclusions and recommendations.