Policy Coordination Research Articles

Population aging, human capital accumulation, and coordination of policies

Population aging, human capital accumulation, and coordination of policies

Kajian Kualitatif Peran Stakeholders Dalam Pengembangan Daya Tarik Wisata Kampung Sarugo di Kabupaten Lima Puluh Kota

The development of tourism in Kampung Sarugo, which is a popular tourist destination, is highly dependent on the participation and support of various stakeholders. The less than optimal role of the contribution of stakeholders to tourism development is the reason for the importance of this research being carried out. The purpose of this study is to identify relevant stakeholders, analyze the uses and roles of stakeholders, analyze the relationships between stakeholders, and inhibiting aspects. The approach used in this research is descriptive qualitative, as well as information gathering methods including interviews, documentation, and observation. The findings show that various groups, including academia, business, community, government, and society, are involved in the creation of tourist attractions. There are three categories of stakeholders: primary, key, and secondary. The role of stakeholders is reflected in the roles of policy creators, coordinators, facilitators, implementers and accelerators.

Monetary policy implications of the new fiscal regime in Nigeria: A simulation study

In this policy research, we examine the effects of the new fiscal regime [the signing of the new Finance Act 2023, the setup of a tax reform committee, and the removal of fuel subsidy] on the Nigerian economy and its implication for fiscal and monetary policy coordination in Nigeria. We explore these by estimating a macro-econometric model, which comprises a fiscal rule, monetary policy rule, and a Phillips curve relation to simulate the impacts of the regime on fiscal, macro and monetary fundamentals in Nigeria. We find in the model estimation that (a) lower public debts can be achieved faster through a reduction in expenditure than by an increase in revenue, (b) inflation in Nigeria is driven by demand and supply-side factors, (c) the monetary policy instrument does not possess stabilizing power over the economy. The forecasting analyses show that the contractionary fiscal regime that raises the revenue by about 75 per cent will instantaneously clear out the fiscal deficit and lead to significant reductions in public debts but at the cost of higher inflation. We suggest sufficiently reducing the monetary policy rate to the optimal value obtained from the structural model, and coordination of demand management and supply-side policies by both the monetary and fiscal policy authorities in Nigeria.

Navigating complexity: looking at the potential contribution of a boundary organisation in Portugal to evidence-informed policy

Governments deal increasingly with multidimensional problems involving high levels of complexity. These so-called wicked problems, such as climate change, demand coordinated and coherent government action, as well as multi-stakeholder approaches. Boundary Organisations (BO), working at the knowledge-interface of the science–policy–society nexus may contribute substantially to both ends. This paper considers the potential contribution of the recently created Competence Centre for Planning, Policy, and Foresight of the Public Administration (PlanAPP), a Portuguese BO at the centre of government, to evidence-informed policy. To this goal, we focus on two streams of literature, Policy Coordination and Coherence (PCC) and Knowledge Governance (KG). An analytical framework with two dimensions is proposed: the first dimension considers if and how PlanAPP engages in boundary work; the second dimension looks at the activities that PlanAPP implements and their potential for PCC and KG. Our results support the idea that PlanAPP is promoting work on the knowledge-interface for public policy, with the potential to become a main player in supporting governments to address policy issues, including wicked problems, whilst potentially triggering a shift to knowledge governance in Portugal’s public administration. Nevertheless, PlanAPP could further intensify boundary activities, especially by increasing civil society participation and producing shared outputs that all actors involved recognise as legitimate, increasing trust in policy and institutions. This study’s methodology may be replicated to improve understanding of BOs and their contribution to policymaking in other contexts.

Fuel Subsidy Removal and Macroeconomic Performance in Nigeria

The government of Nigeria removed fuel subsidy on the premise that fuel subsidy is a drain on government finances, causes macroeconomic instability, and generates adverse social welfare in the country. The objective of this paper is to examine the effect of fuel subsidy removal on macroeconomic performance in Nigeria. The paper adopts a desk review method and obtains secondary data from the documents of reputable organizations such as the Central Bank of Nigeria, the National Bureau of Statistics, and the Nigerian National Petroleum Company Ltd. Descriptive statistics was employed for the analysis of data. The study found out that the removal of fuel subsidy resulted in the increase of premium motor spirit price across the country generating inflationary trend. It improved revenue generation for government expenditure, curtailed cross border smuggling and corruption inherent in the downstream sector of the petroleum sector. It was based on these findings that the paper recommends a proper coordination of the fiscal policies and the Central Bank of Nigeria to effectively manage the macroeconomic effect of the subsidy removal. It is also important for the government to develop an effective communication strategy to engage stakeholders on the necessity for the subsidy removal and put in place an effective palliative measure to alleviate the attendant adverse conditions that it generated.

Multicountry Time-Varying Taylor Rule: Modeling Unconventional Monetary Policies and Bond Premiums

In the post-financial-crisis era, advanced economies have increasingly adopted unconventional monetary policies such as zero interest rate policy, negative interest rate policy, forward guidance communication, and international coordination policies. Consequently, the traditional Taylor rule has lost some of its explanatory power. This analysis extends the Taylor rule from a single-country to a multicountry analysis using cross-country panel data, incorporating nonmacro factors and stationary correlation in the diffusion matrix for a dynamic factor analysis, specifically covering the Group of Seven countries with datasets compiled by Bloomberg L.P. for the period 1999–2022. This approach comprehensively models these unconventional monetary policies, demonstrating greater statistical validity than existing models. Notably, the model extracts the impact of zero interest rate policy and negative interest rate policy as nonmacro factors and presents the high correlation of residuals as indicative of international coordination among central banks. Additionally, by interpreting the discrepancy between the Taylor rule and actual rate as unintended interest rate fluctuations by central banks, the study posits that interest rates will eventually return to the central bank’s intended fair value. The model’s estimation errors could be treated akin to bond value factors in global risk premia.

MONETARY AND FISCAL COORDINATION IN UKRAINE AND ITS IMPACT ON ECONOMIC GROWTH UNDER THE CONDITIONS OF MARITAL STATE

The purpose of this paper is to examine the effectiveness of monetary and fiscal policy instruments, to determine the level of influence of monetary and fiscal factors on economic growth, as well as to justify ways for improving the effectiveness of monetary and fiscal policy coordination. Insufficient coordination of monetary and fiscal policies entails devastating economic consequences. The critical analysis of scientific publications proved that today the coordination of monetary and fiscal policies depends on the degree of balanced regulation of interest rates and inflation control. The research uses a NARDL model to capture mainstream trends in the influence of monetary and fiscal factors, as well as in the empirical study of their coordination. According to the estimations it was established that the weighted average rate of NBU instruments is absorbed to a greater extent in the monetary component of coordination, the system of managing the internal public debt – in the fiscal component. The participation of monetary authorities in the management of the national internal debt remains a debatable issue today. It is proved that the process of coordination of monetary and fiscal policies is influenced by the state of Ukraine’s economy during the war.Despite the difficult political and economic situation in Ukraine, it is necessary to focus on improving the coordination of monetary and fiscal policies. In particular, the significant contribution of the NBU in financing the state budget deficit due to their purchase of government bonds needs to be resolved. Strengthening the role of macroprudential policy in the coordination of monetary and fiscal policies, one of the goals of which is to counter the emergence of a systemic crisis; formation of a clearly developed coordination strategy, which would be based on clearly defined goals, set tasks on the basis of selected methods and instruments for their achievement.

Tinjauan Kebijakan: Evaluasi Efektivitas Upaya Penanggulangan Bencana di Desa Ciwangi

Ciwangi Village in Garut Regency, has the potential for disasters such as earthquakes, floods, and landslides. Therefore, evaluating the effectiveness of disaster management efforts in Ciwangi Village is crucial for mitigating risks and protecting local communities. This research aims to explore the dynamics of disasters that occurred in Ciwangi Village and evaluate the level of effectiveness of mitigation policies, starting from the structural level to the village. This research uses qualitative methods by reviewing Regional Regulations (Perda) related to disaster management in Ciwangi Village, Garut Regency. The review was carried out using in-depth interviews, observations, and document analysis. The analysis was carried out by detailing the implementation of the Sendai Framework for Disaster Risk Reduction (SFDRR) principles at the local level. The results of the analysis are then linked to Chamber Theory to evaluate the effectiveness of policy coordination and implementation at the village level. The research results show that disaster mitigation efforts in Ciwangi Village are still weak in terms of understanding disaster risk, disaster risk management, investment in disaster risk reduction, and disaster preparedness.

Current Status, Problems and Suggestions of Import and Export of Goods Trade between China and Chile

As one of the largest trading countries in the world, China continues to expand its trade relations with various countries, which has promoted the development of China-Chile trade in goods. Bilateral goods trade has consistently exhibited robust growth. This paper aims to delve into the current status of goods trade between China and Chile, analyze the existing challenges, and propose feasible recommendations. Through comprehensive data analysis, this research unveils the key features and challenges of their trade relationship, providing substantial support for enhancing cooperation.To begin with, this paper provides a detailed overview of the scale of China-Chile trade, emphasizing the mutually beneficial nature of their relationship. Simultaneously, it highlights the primary categories of Chinese exports to the Chilean market and Chile’s key import demands from China. Furthermore, an in-depth analysis of the major issues confronting the current merchandise trade between the two nations is conducted, encompassing concerns such as trade imbalances, product structures, and investment levels. Finally, recommendations are put forth to address these challenges, primarily focusing on enhancing policy coordination to promote bilateral investments, improving product structures to augment the value of traded goods, and optimizing investment structures to deepen bilateral cooperation.

Addressing the asymmetry between central and local air protection policies: Insights from Poland

Purpose: This paper examines the asymmetry between the air protection policies of the central government and local authorities in Poland, using the city of Kraków as a case study. Methodology: The study employs a comparative method to contrast the Polish state's coal policy with the air protection efforts of the Kraków local government. A systems analysis approach is used to identify the causes and effects of the divergent policies. Results: The analysis reveals a lack of alignment between the central government's focus on maintaining coal extraction and the local government's efforts to reduce air pollution. Kraków authorities have taken significant measures to improve air quality, but face challenges due to insufficient support from the central government and neighboring municipalities. Theoretical contribution: The paper highlights the importance of policy symmetry and coordination between different levels of government in addressing complex environmental issues like air pollution. It contributes to understanding multi-level governance dynamics in the context of air protection. Practical implications: The findings underscore the need for a collaborative model of air protection policy that engages central authorities, local governments, private sector entities, and civil society. Establishing air protection councils at the voivodship, county and municipal levels is proposed as a mechanism to facilitate this coordination. Integrating air quality considerations into local governments' management control systems is also recommended.

Assessing the Effects of Trade-Related Exchange Rate Fluctuations on Credit Availability and Financial Stability in China

The recent trade wars between China, the United States, and Australia have significantly impacted global economic dynamics. As China relies heavily on international trade, these conflicts have led to fluctuations in the Chinese yuan (CNY), straining financial stability. This study aims to analyze the influence of this volatility in the exchange rate on China’s credit market, focusing on how fluctuations in the CNY against the U.S. dollar and Australian dollar have influenced credit availability, loan demand, and overall financial stability. The study employs a mixed-methods approach, combining an autoregressive distributed lag (ARDL) model. The findings reveal a strong correlation between exchange rate volatility and credit market conditions, with the depreciation of the CNY during trade tensions leading to tighter credit conditions and higher borrowing costs. Chinese banks responded by tightening lending standards and increasing interest rates, which helped mitigate some of the adverse effects. However, the ongoing nature of trade tensions underscores the need for continued vigilance and adaptive strategies, including economic diversification, strengthening financial infrastructure, and enhancing policy coordination to ensure long-term resilience and stability in China’s financial system.

Policy dialogue: Key factors for the success of transit-oriented development infrastructure 3.0 in big cities in Indonesia

This research aims to determine the factors driving the success of four large cities in Indonesia in implementing Transit-Oriented Development (TOD) infrastructure policies beyond the eight TOD 3.0 Principles. Only a few studies like this have been conducted. The research uses qualitative methods and is supported by in-depth interviews with stakeholders, community leaders, community groups, and service users. The research findings reveal six themes: policy dialogue, organizational structure and coordination, changes in community habits, resources, dissemination and communication, and transportation and connectivity services. The characteristics of the community in the study area that prioritize deliberation are important determinants in policy dialogue and are involved in determining policy formulation. The city government has established a comprehensive organizational and coordination structure for the village and sub-district levels. The Government controls infrastructure development activities, establishes a chain of command and coordination, and encourages people to change their private car usage habits. The city government combines all this with the principle of deliberation and conveys important information to the public. The research highlights the differences in TOD implementation in Indonesia compared to other countries. Specifically, the existence of policy dialogue and the direct involvement of community members influence the level of program policy formulation and are crucial in controlling urban infrastructure development.

Tail risk transmission from the United States to emerging stock Markets: Empirical evidence from multivariate quantile analysis

This paper explores the transmission of risk from the United States equity market to the equity markets of the BRICS countries using a multivariate quantile process. The focus is on the contagion effect at the extreme quantiles, both upside and downside. In addition, a pseudo-impulse-response function (PIRF) analysis is conducted to investigate the responses of the five emerging stock markets to a shock in the US market. We conduct an empirical study against the backdrop of the COVID-19 event and the Russia-Ukraine conflict, finding that risk spillovers between the US stock market and the five emerging stock markets are significantly enhanced during the COVID-19 period. Moreover, a shock in the US market produces a stronger and more persistent negative effect at the downside quantiles compared to upside quantiles. However, we find little evidence of cross-market risk spillovers among the investigated variables during the Russia-Ukraine conflict period. We also discuss the implications of these findings for investors and policymakers in terms of portfolio holdings and policy coordination.

A framework to support localized solid waste management decision making: Evidence from Qatar

Solid waste management is a pressing global issue, aligning with Sustainable Development Goals 11 and 12. Despite increasing awareness, the annual rise in waste generation is expected to persist for decades. Efficient waste management is crucial for channeling valuable resources into circular economy flows while safeguarding health and the environment. While best practices are informative, localized actions tailored to specific contexts are essential. This study proposes a thematic framework, grounded in techno-policy, to prioritize actions for achieving sustainable solid waste management (SSWM) in Qatar, with potential applicability to other countries. The prioritized recommendations include enhancing research and policy coordination, harnessing value from waste, fostering interdisciplinary collaboration, and promoting awareness campaigns. The study underscores the significance of private sector training, plastic recycling, and addressing the impact of mega-events on waste management. It identifies key stakeholders, such as researchers, businesses, government, and the community, emphasizing their roles in implementing effective waste management strategies. Challenges, however, arise from the absence of comprehensive and up-to-date open data, hindering a full understanding of recent developments and identification of priority areas for future research. In summary, this study introduces a novel techno-policy-driven framework for prioritizing SSWM actions, emphasizing the need for targeted efforts in diverse contexts to address the escalating global waste challenge.

Similarities yet Divergence in South Asian Macroeconomic Performance


 Stylized business cycle facts for South Asia are both similar and different from other regions. They show the dominance of supply shocks, often amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on liberalization, but fell as markets deepened. A gradual approach to openness and market development, with flexible exchange rates, that avoided complete liberalization, worked well initially. But a combination of excessive government/foreign borrowing and inadequate reserves made it difficult for smaller countries to withstand the multiple external shocks that began with the global pandemic. Domestic ability to smooth shocks and global safety nets are both essential. India benefitted from growing diversity, evolution to countercyclical macroeconomic policy better suited to structure and a good coordination of monetary and fiscal policies, with balance between demand stimulus and continuing supply-side reforms. Reserves and capital flow management policies helped insulate from global shocks. Intervention damped excess exchange rate volatility, reducing risk premiums.

Corporate environmental governance under the coordination of fiscal and financial policies: The case of green credit subsidy policy

This study analyzes data from China's A-share non-financial listed firms (2009–2020) using a DID model to assess how green credit subsidy policies affect corporate environmental performance. Findings show significant performance improvements in heavily polluting companies, attributable to enhanced innovation and reduced operational costs, as confirmed by robustness tests. The policy's impact is more significant on non-state, small and medium-sized, and companies in less developed regions.

Does the increase in health insurance benefits have different effects on the health of middle-aged and older people individuals in rural areas? Analysis based on quantile difference-in-differences method.

In the context of healthy aging, enhancing health performance is an intrinsic requirement for the development and reform of the health insurance system. This paper mainly discusses the health effects of increasing medical insurance benefits on people with different levels of health. So this paper utilizes multiple rounds of data from the China Health and Retirement Longitudinal Study (CHARLS) and employs the quantile difference-in-differences method to systematically investigate the impact effects of the integration of urban and rural residents' health insurance on the frailty levels of rural middle-aged and older people individuals. The research findings are as follows: Firstly, the integration of urban and rural resident health insurance has mitigated the frailty level of rural older people individuals, with a more pronounced impact on those with poorer health statuses. Secondly, in terms of heterogeneity analysis, the health performance effects of the urban-rural health insurance integration policy are more significant among the older people population and in the western regions. Thirdly, the integration of urban and rural resident health insurance primarily improves health by reducing the burden of medical expenses, with a greater impact on the older people population with poorer health statuses. Based on the research findings, we recommend addressing the disparities in healthcare benefits across various insurance systems, alleviating the financial burden of healthcare for impoverished individuals, and consistently improving the coordination of healthcare insurance policies for both urban and rural residents.

Сoordination of fiscal and monetary policy in Ukraine

In the conditions of uncertainty and economic instability, the issue of researching approaches to strengthening the coordination of fiscal and monetary policy is becoming relevant. The aim of the research is to justify directions for strengthening the coordination of fiscal and monetary policy of Ukraine. It is hypothesized that the level of fiscal and monetary policy coordination determines the country’s ability to ensure macroeconomic stability. Special and general scientific methods were used: system approach, theoretical generalization, induction and deduction, statistical, scientific abstraction. Strengthening the coordination of fiscal and monetary policy is an important stabilization tool for ensuring the adaptation of the economy to social and economic conditions, curbing inflation in order to maintain exchange rate stability, reducing fundamental price pressure and directly overcoming inflationary processes. The toolkit of fiscal and monetary policy must be considered in an inseparable unity, taking into account the synergistic effect of ensuring macro­economic stability, which cannot be achieved exclusively by the tools of only one of the policies. The main directions of strengthening the coordination of the fiscal and monetary policy of Ukraine at this stage include: combining the tools inherent in both directions of policies, strengthening its flexibility and adaptability to socio-economic processes; sy­ner­gy of policy instruments in the context of ensuring debt sustainability and reducing fiscal risks; substantiation of the common strategic goals of policies, which will contribute to strengthening their coordination, in particular by developing an appropriate strategy; the development of a financial toolkit for prevention and response, within the framework of which policy instruments are used together, in particular by improving the traditional practice of applying macroprudential measures; streng­thening the independence of state institutions that ensure the formation and implementation of fiscal and monetary policy by continuing institutional and legislative reforms in the relevant areas.

Coordinating school improvement: Understanding the impact of state implementation approach on coordination in multilevel governance systems

AbstractMultilevel governance is theorized to facilitate effective policy implementation by encouraging the use of local knowledge and expertise, enabling the participation of non‐government actors, and capitalizing on the coordinating and sanctioning authority of centralized governments. Whether a particular multilevel governance arrangement achieves this, however, depends in part on the degree to which it enables coordination among governmental and non‐governmental actors representing different levels and jurisdictions. Using a comparative case study of education governance reform in the United States, this study investigates how differences in state policy implementation approach impact the structure and mode of coordination in multilevel governance systems and considers the effects this has on policy implementation processes. The results indicate that a state's implementation approach impacts coordination by structuring how different levels of government interact, share information, and influence policy. Specifically, variation in the structure of the central governing agency directly enables or restricts the influence of bottom‐up coordination from lower levels of government. The results also highlight the theoretical limitations of current binary structure models of multilevel governance (i.e., centralized vs. decentralized, top‐down vs. bottom‐up, hierarchy vs. network) for capturing important nuances in policy coordination. These findings advance the understanding of policy coordination in multilevel governance systems and inform the design of institutional arrangements that balance trade‐offs in centralization and the delegation of authority across governance systems during policy implementation.

Covid-19 pasekmės transatlantinio saugumo bendruomenei

Although there were many disagreements in transatlantic relations before the COVIC-19, the pandemic accelerated tensions in transatlantic relations even more. The inauguration of the new US president Joe Biden, however, has been perceived as a new chapter in transatlantic relations. The paper aims to assess the COVID-19 pandemic implications to transatlantic relations and answer the question of whether the pandemic has strengthened or weakened the transatlantic security community? The paper stems from the idea that transatlantic countries compose a transatlantic security community. It examines the COVID-19 implications to several tiers of features that should be present in every security community: namely, implications to the perception of threats, patterns of communication and policy coordination, as well as to institutional framework. The paper argues that COVID-19 has not transformed the transatlantic security community; however, it highlighted certain problematic aspects of transatlantic relations.