Economic Policy Research Articles

Status, Challenges and Prospects of Policies Related to the Green Economy

Amidst the backdrop of globalization, the international community has increasingly focused on green economy policies, recognizing them as crucial instruments for advancing sustainable development. With the green and low-carbon transformation of the global industrial chain supply chain, the green economy and trade have become an important symbol for measuring the trade competitiveness of a country or region. Green economy policies are not only related to the process of global environmental governance but also have a direct impact on the green transformation of countries’ economic landscapes and the reshaping of international competitiveness. Amid escalating environmental challenges, the concern over leveraging green economic policies to foster harmonious economic and environmental development has emerged as a significant matter for governmental and international entities. This paper will focus on analyzing the relevant theories of the green economy, the status of its development, and the challenges it is currently facing. By analyzing the different cases of developed and developing countries in promoting the development of a green economy, we will take an in-depth look at the bottlenecks in the development of a green economy and the prospects for its future development, and reveal the specific challenges faced by different countries, as well as the innovative strategies they have adopted in promoting environmental sustainability and economic growth.

How to improve informal caregiver’s quality of life and health literacy? – a NGT approach

Abstract Background Previous studies revealed that informal caregivers have a large number of unmet needs, reinforcing the necessity of national policies that ensure an adequate sustainability of the provision of informal care and takes into account the needs of caregiving dyads in the planning process. This study aimed to identify and consensualize initiatives and action strategies to improve the Portuguese Informal Caregiver’s reality and health literacy levels. Methods A Nominal Group Technique (NGT) was conducted with 10 experts. The NGT panel was asked about feasible action strategies to improve informal caregiver’s reality, consensualized and voted them according to perceived relevance in a semantic differential (1 pts to nothing relevant and 6 pts to very relevant), allowing a score calculation. Results Thirty-two initiatives emerged from the NGT. The five most relevant initiatives were identified based on an average score namely: 1) Pressure political decision-makers on the need for an effective implementation of the Informal Caregiver status, which is not being done (score=56); 2) Creation of a specific emergency social line for informal caregivers, as a measure of greater equity (score=52); 3) Raise employers awareness about caregiving demands (score=52); 4) Creation of a proximity social manager, linked to primary care services, that facilitates caregiver connection to health and social care services (score=51); 5) Decentralization of respite care services support, with multidisciplinary teams (score=49). Conclusions The informal caregiver’s role needs to be recognised and understood by healthcare and social care providers. (Re)design political, economic and social policies that address both caregiver and care recipients’ needs is critical to enable the continuity of informal care provision. Key messages • Informal caregivers play a fundamental social role but still have many needs to be addressed, particularly at the level of the official definition of their role. • (Re)design political, economic and social policies targeted to informal carers is imperative to enable the continuity of informal care provision.

IMPACT OF STOCK PRICE FLAKINESS ON DEVELOPMENT OF NIGERIAN EXCHANGE GROUP

This study is aimed to investigate what is happening in the Nigeria Stock Market under its new name, “Nigeria Exchange Group”, with respect to the uncertainty nature of share price behaviour in the capital market. Hence, the month end stock prices of four listed consumer companies from the period January 2017 to December 2022 were used as proxies. The study made use of the Autoregressive Conditional Heteroskedasticity (ARCH) to estimate and find out the presence of the volatility. The study identified the presence of volatility in all the four consumer stock prices used, while the volatility of stock price was then regressed against stock prices to determine their certainty. The results however revealed that out of the four consumer goods companies, only two consumer goods companies’ stock prices were predicted by volatility, while past stock prices predicted current stock prices implying that the market does not follow a random walk. The study therefore recommended that activities of corporate insiders should be critically scrutinized to reduce the predictability of stock prices. Also, that Information should be made available and in clear terms to stakeholders and all investors in particular. Also, that policy makers should carefully review their economic policies in their use of the Nigerian bourse as a barometer to measure performance in the general economy to avoid misleading the investing public.

10.C. Scientific session: Shifting the focus of health and economic policies: Investing in sustainable health and well-being

Abstract The main theme of the 18th European Public Health Conference, to be held in Helsinki in 2025, is ‘Investing for sustainable health and well-being.’ The theme emphasizes the concept that improving population health and well-being is an investment rather than an expenditure, benefiting society as a whole and contributing to a more sustainable economy. This workshop will introduce the thematic areas of the 2025 European Public Health Conference through three presentations. First, we will highlight the approach of public health policy drawing on the economy of well-being and its application in wider societal policymaking. Second, we will explore how EU policies can contribute towards a Wellbeing Economy and how to ensure health and wellbeing remain on policy-making agendas. Third, we will present an economic case for investing in health and health systems and highlight the co-benefits it brings to other policy areas and sustainable development goals. Finally, we will discuss the future expectations for European public health policy. The workshop will conclude with a general discussion, providing the audience with an opportunity to propose topics for inclusion in the programme of the European Public Health Conference in 2025. Key messages • Improving population health and well-being is an investment rather than an expenditure. • Investing in the population’s health and well-being brings co-benefits to other public policy areas.

Partisan Politics in Finland

Abstract Traditionally, the Finnish party system has involved a high level of fragmentation yet remarkable stability, consensual decision-making, ideologically broad government coalitions, and mostly modest levels of polarization between parties or voters. These features suggest a limited effect of the party composition of government on economic policy. However, based on studies on close local elections, parliamentary speech, and party manifestos, we argue that the link between party politics and policy outcomes likely plays a role in Finland. Most analyses have examined the extent to which the characteristics of local politicians within the parties affect policy outcomes. These studies show that occupation, education, experience, competence, and residential location of local politicians strongly affect local policies, indicating that, in general, politics matters for policy. We also discuss how consensual national politics may have contributed to the recent success of the populist challenger Finns Party. As a new major player, the party has emphasized the role of sociocultural issues and especially affective polarization, which represents a considerable paradigm shift from the catch-all party policies typical of Finland for many decades. It is thus possible that the link between politics and policy will become more pronounced in the future, motivating further research.

The Network of Expertise on Long COVID as a means to synthesise intelligence and improve our response to long COVID at EU level

Abstract To promote international collaboration and strengthen EU and national-level responses to Long COVID, the Commission set up the Network of Expertise on Long COVID (NELC) in 2023. It brings together national institutions involved in Long COVID work, nominated by the Public Health Expert Group (PHEG) representatives of each Member State. The network provides a platform for exchanges of national experiences on diagnosis, treatment, and management of long COVID. The Commission and the NELC agreed on eight specific actions to be implemented to manage Long COVID. The development of a Long COVID definition is complex due to the diverse range of symptoms experienced by patients, and so working towards a unified EU case definition is the first action proposal. This will allow the development and implementation of a surveillance system on national and EU level to foster the knowledge on the actual scale and the symptomatology of Long COVID across the EU leading to a better comparability of health data at Union level. The proposal to develop and implement a training programme for healthcare professionals at EU level will allow for the exchange of expertise/training on Long COVID across Member States. The provision of clinical guidelines based on evidence to Member States will help manage Long COVID, and international collaboration will allow for the sharing of valuable information and data with third countries that have experience with Long COVID. The Commission will use the EU Health Policy Platform to create an open stakeholder group. This group will allow stakeholders and patient groups to express their point of view, and to share experiences. Assessing the far-reaching social and economic consequences of Long COVID across the EU will allow for more targeted social and economic policy responses from Member States. It is important that priority is given to research responding to the most urgent needs of health care systems, which is why the Commission aims to identify research needs.

The value of healthy ageing: Estimating the economic value of health at older ages using time use data

Abstract While health naturally has intrinsic value and maintaining health as people age seems to make good economic sense, making the case for investing in health at older ages can be challenging. Much economic growth is historically attributed to the working-age population; however, maintaining good health as people age also enables older people to contribute meaningfully to the economy. Investing in health at older ages, therefore, can be strategic economic policy. We develop a novel method to quantify the economic value of health through time use data. Using data from the United Kingdom Time Use Survey (UKTUS) 2014-15 for individuals aged 65 years-old and older, we apply survey-weighted generalized linear models to predict the time spent in non-market productive activities based on age and self-perceived health. We then quantify the monetary value of time spent engaging in these activities and simulate the monetary impact of health gains at older ages. Both age and self-perceived health status were associated with minutes spent in many non-market productive activities. Being in ‘very good’ instead of ‘very bad’ self-perceived health is associated with an additional production of 439£, 629£, and 598£ per month for an average individual aged 65 to 74 years-old, 75 to 84 years-old, and 85 years-old and older, respectively. Our simulation model indicates that improving the health of 10% of older people in ‘very bad’ health could lead to an economic increase of up to 278£ million through non-market activities. Health at older ages creates considerable economic value which is not captured using standard national accounting measures. Our work highlights the importance of health for functional capacity as people age, allowing them to engage more in non-market activities. Our method to quantify the monetary value of health can be adapted to other settings to make the economic case for investing in healthy ageing.

Latin American networking and cooperative struggles in Argentina: A conversation with the Movimiento de Ocupantes e Inquilinos (MOI)

This conversation examines the Movimiento de Ocupantes e Inquilinos (MOI) in Argentina, a grassroots organization promoting cooperative, self-managed housing for over 30 years. Based on a conversation with Néstor Jeifetz, the article traces the origins of the MOI from the 1980s building occupations in Buenos Aires, through its connection to the broader Latin American cooperative housing movement, including the creation of the Latin American Secretariat for Popular Housing and Habitat (SELVIHP). The article explores how MOI’s efforts to reclaim vacant urban properties—such as the La Fábrica cooperative housing project—address the critical need for secure, affordable housing in a context of neoliberal economic policies and external debt crises. Jeifetz discusses the political ramifications of recent far-right victories in Argentina, which threaten hard-won social rights and self-managed housing initiatives, as well as the MOI’s role in resisting these policies through a framework of collective ownership, democratic decision-making, and mutual aid. By highlighting the intersections of housing with education, health, and labor, and situating the MOI’s work within a larger history of land and building occupations across Abya-Yala, this article provides a nuanced understanding of the ongoing struggles for housing justice in the face of both local and global neoliberal forces.

Economic Policy Uncertainty and Fluctuations in Monthly IPO Volume: Evidence from the US

Economic Policy Uncertainty and Fluctuations in Monthly IPO Volume: Evidence from the US

Assessing the impact of three emission (3E) parameters on environmental quality in Canada: A provincial data analysis using the quantiles via moments approach

ABSTRACT Existing studies rarely examine the simultaneous effects of three emitting indicators (3E) – full emitting non-renewable, non-emitting renewable, and low-emitting nuclear - on three specific greenhouse gases: CO2, CH4, and N2O. We investigate the impact of three energy types on environmental quality, using Canadian data from 1990-2022. It incorporates macroeconomic policies, economic uncertainty, geopolitical risks, and eco-innovation, and employs the quantiles via moments method to explore the evolving relationships among these factors, considering provincial variances. Findings reveal that non-renewable energy sources deteriorate environmental quality by increasing CO2, CH4, and N2O emissions across all quantiles (from q.5 to q.95), while renewable and nuclear energies, along with eco-innovation initiatives, have a beneficial effect by reducing greenhouse gas emissions across all quantiles. Economic policy uncertainty is a contributing factor to greenhouse gas emissions across all quantiles, whereas geopolitical risks primarily impact the middle to upper quantiles (from q.50 to q.95). To counteract the lack of cross-sectional dependence in the quantiles via moments methodology, this paper employs Driscoll and Kraay’s standard errors approach to fortify its findings’ reliability. It concludes with policy suggestions promoting renewable energy and eco-innovation through increased investment, vibrant long-term policies, provincial collaboration, and adoption of green technologies.

Economic Program Policy BUMNIn Increasing Economic Growth In Indonesia

Economic program policies towards state-owned enterprises (BUMN) in economic growth in Indonesia have become commonplace in various countries. The main reason for implementing economic program policies is to improve and streamline the performance of BUMN so that it can achieve its founding targets, namely the provision of public services for the community and profits for the state. However, this policy is often rejected due to concerns that the role of the state is minimal and the role of the private sector is too dominant, which refers to a free market system so that the interests of society are not guaranteed. The method used in this research is qualitative research with a descriptive-analysis method using relevant secondary data and normative/literature assessment using a statutory approach and a conceptual approach. The aim of this research is to provide a comprehensive understanding of economic program policies by BUMN in Indonesia, both from a historical perspective and applicable positive law. The research object is BUMN (State-Owned Enterprises). This research concludes that the majority of listed BUMNs are able to improve business performance and profit generation. Economic programs are not the only solution for state company management, but they must always be able to reform and innovate in terms of future BUMN business strategies.

Shared Class, Shared Opinion? Policy Preference Congruence Between Citizens and Legislators

AbstractRecent studies have shown that policymakers and policy outcomes in advanced democracies are biased against the preferences of less affluent and working‐class citizens. One reason for this inequality in substantive representation might be that most policymakers are well‐off themselves. In this paper, we explore the effect of shared class background on the congruence between legislators' and citizens' policy preferences. To do so, we rely on original data from surveys conducted among citizens and active legislators in Switzerland. We focus on six economic and welfare policy proposals where we find differences in opinion between social classes. When we match legislators' and citizens' opinion in a one‐to‐many relationship, we find that social class matters more for lower social classes than for the more affluent, at least for some policy proposals.

Can digital transformation promote hospitality and tourism firms’ investment? Moderating effect of financing constraints and economic policy uncertainty

ABSTRACT Research on corporate investment is widely acknowledged as essential in the realm of financial management within the hospitality and tourism sector. Drawing on information asymmetry and resource dependency theories, this study examines the effect of digital transformation on hospitality and tourism firm investment and explores how financing constraints and economic policy uncertainty moderate these effects. We utilized firms engaged in tourism, hotel, catering, and transportation, listed on the A-share market of China’s Shanghai and Shenzhen stock exchanges from 2009 to 2022, as our research sample. Our findings indicate that digital transformation enhances investment in hospitality and tourism companies. Furthermore, this positive effect was more pronounced for firms with reduced financing constraints and heightened economic policy uncertainty. These findings reveal ignored tourism and hospitality investment antecedents and enrich academic understanding by expanding firm-specific boundaries. This study provides practical insight into how hospitality and tourism firms can boost investment through digital transformation.

Effects of Working Capital Management on Small-Sized Businesses in Competitive Environments with Economic Policy Uncertainty—A Case Study Applied to Chilean Companies

Working capital is a strategic resource that not only enhances financial performance but also ensures the long-term sustainability of organizations, especially SMEs. In the context of evolving economic policies and the challenges of gender equity affecting Chilean companies, this study explores how economic policy risk (EPU) and CEO characteristics influence working capital, which are essential investments for sustainable growth. The analysis covers 12,839 SMEs from 2014 to 2019. Using a fixed-effects panel data model, the findings reveal that firms tend to increase their investment in working capital in response to rising economic policy uncertainty. However, the relationship follows a non-linear inverted U-shaped pattern, which suggests the existence of an investment optimum between working capital and the EPU. Considering the level of competition, companies increase their investment in working capital when the level of competition is higher. Regarding the gender and age of CEOs, it is observed that women invest less in working capital, as do young CEOs. These results underscore the importance of EPU, along with the gender and age of CEOs, as key factors in promoting sustainable working capital management.

Immigration in the 2024 US presidential election campaign: policy stalemate, disinformation, and a call for mass deportation

Immigration has been one of the most contentious and defining issues of the 2024 presidential election, rivaled only by economic policy and national security. The Republican candidate, former President Donald Trump, has largely succeeded in setting the terms of the debate – hammering away at his Democratic rival, Vice President Kamala Harris, with hyperbolic claims that she supports “open borders” and false accusations that the US is experiencing a wave of violent crime committed by migrants. Trump’s immigration rhetoric relies increasingly on lies, misinformation, and racist stereotypes. But his claim that immigration is “out of control” – and his insistence that firm measures are needed to address it – have become central to the Republican platform, and one of Trump’s most frequently repeated campaign promises is that he will deport millions of undocumented immigrants soon after taking office. Why is immigration such a controversial issue in the US? How have the different administrations dealt with it? Is it an overused issue in this campaign?

Predicting Housing Prices Using Supervised Machine Learning Models

Abstract: Variations in housing prices exert a profound impact on economic policies and personal financial decisions. This study aims to delve into the factors that affect housing prices and construct a predictive model using machine learning techniques. Machine learning enables computers to acquire knowledge from data and make predictions or decisions. This study forcasts house prices by analyzing the characteristics of data from Seattle, Washington using machine learning multiple linear regression, polynomial regression, and K-nearest neighbors regression (KNN). The findings of this investigation demonstrate that the polynomial regression model is the most accurate in predicting housing prices and can capture nonlinear relationships in the data more effectively than multiple linear regression and K-nearest neighbors regression. The main factors affecting housing prices are interior living space and the construction and design of buildings. These insights hold potential for enhancing government policies, facilitating effective land use decision-making by planners, and enabling investors to make more informed choices.

The Heterogeneous Impact of Economic and Environmental Policy Uncertainty on the Digital Economy: Fresh Evidence Based on the Bilateral Stochastic Frontier Model

The Heterogeneous Impact of Economic and Environmental Policy Uncertainty on the Digital Economy: Fresh Evidence Based on the Bilateral Stochastic Frontier Model

The Identification of Problems in Creating Sustainable Organisations in Ghana

Organisations have been implementing strategies in their business to enhance the continuity of their operations. The emerging issues related to environmental and social problems have made organisations implement sustainability strategies in their business activities. The purpose of the study is to identify the problems in building sustainable organisations, and to make recommendations that will improve sustainable organisations. The article consists of three main parts. The first is the theoretical part, which analyses the challenges relating to sustainability implementations. The second involves the research methodology, which combined both quantitative and qualitative methods in the study. The third part of the research focuses on empirical analysis and evaluation. The findings reveal problems relating to an organisation’s inability to reward and motivate employees’ work or activities done, a lack of local funding associated with environmentally friendly materials, and a lack of economic development sustainability policies. The research concludes with recommendations for the effective building of a sustainable organisation.

The Local Declines in Child SSI Applications and Awards During COVID

Child applications and awards for Supplemental Security Income (SSI) fell sharply at the outset of the COVID-19 pandemic. Cumulative applications from April to September 2020 were about 30% lower than applications over the same period in 2019 with substantial variation in rates of decline across local areas. In this article, we explore the factors correlated with the change in applications and awards across localities at the beginning of the pandemic. Our findings point to three particularly important factors influencing the magnitude of the change in applications and awards: (a) the restriction of in-person services in all Social Security Administration field offices in March 2020, (b) the pandemic’s disruptions to social and service networks through which people may learn about SSI, and (c) new economic stabilization policies, such as economic impact payments and supplemental unemployment insurance payments. These results highlight the substantial local variation in SSI participation. This variation is especially important in considering general issues around access to SSI, particularly for policies that aim to improve SSI access through outreach. Our findings underscore the importance of local networks in creating program awareness at local levels, and that they might be fruitful avenues for further outreach efforts.

A Comparative Study of the Economic Development of China and Japan after World War II

China's economy is currently facing difficulties such as a slowdown in development, an economic structure that is not adapted to the new world economic situation and so on. How to get out of these difficulties has become an important issue. From a historical perspective, this article compares the economic development processes of China and Japan after World War II and analyses the enlightenment that China can draw from Japan's economic development. The study of this article concludes that after World War II, the economic development models of China and Japan were highly similar. Both countries implemented a development strategy that prioritized heavy and chemical industries, introduced economic development policies that emphasized exports and adopted a government-led economic development model. Both are currently encountering similar development difficulties. Based on Japan's economic development experience and lessons, China should focus on real estate bubbles, market mechanism adjustment and improvement, etc. to adapt to the needs of the new economic situation.