Economic Policy Research Articles

Extending comparative typologies of diaspora policies: Towards a "cautiously proactive" diaspora policy state

In the past two decades, the 'diaspora turn' in research and policy has led to the development of several typologies of diaspora policies around the world. This study explores and extends Francesco Ragazzi's established 2014 global typology of diaspora policies. We use in-depth qualitative analysis of Czech diaspora policies to assess the internal validity of the typology and identify new dimensions that are central to our understanding of diaspora politics. We then replicate Ragazzi's quantitative analysis with the inclusion of new data on the Czech Republic, Slovakia, Hungary, Croatia and Poland, assessing the typology's external validity. We find a new cluster of diaspora policy types, characterized by a “cautiously proactive” mix of diaspora policy mechanisms based on relatively generous cultural and citizenship policies, variably accentuated symbolic policies and limited social and economic policies. We suggest that this mix has been structured by the tension between the countries' commitment to a (neo) liberal emigration regime and the continued importance of ethno-cultural conceptions of nationhood. In addition, we identify three new variables that should be included in future typologies: 1) the volume and distribution of funding for diaspora policy; 2) the symbolic recognition of diaspora in the legal system; 3) policy differentiation among different kinds of diaspora. Our mixed-method approach illustrates the importance of using nuanced qualitative data to provide a meaningful depiction of policy.

Public investment on renewable energy R&D Projects: The role of geopolitical risk, and economic and political uncertainties

Recently, there has been growing concern about the impacts of geopolitical tension as well as economic and political uncertainties on the decision-making process of governments when it comes to allocating resources for renewable energy R&D. This paper employs the panel autoregressive distributed lag (ARDL), cross-sectional panel autoregressive distributed lag (CS-ARDL) and Fully Modified Ordinary Least Squares (FMOLS) technique to examine the impacts of geopolitical risk, economic and political uncertainties, renewable energy technologies innovations, government financial affordability and CO2 emissions on government spending on renewable energy research and development projects. The novel aspects of the panel ARDL and CS-ARDL methodologies lie in their ability to capture both short-run and long-run dynamics within a panel data framework, as well as their ability to provide a more comprehensive understanding of the relationships under investigation. The empirical results presented in this paper indicate that in the face of ongoing geopolitical tension, as well as economic and political uncertainties, financially capable governments continue to increase their investments in renewable energy R&D in the long run. This strategic move aims to safeguard the supply of renewable energy, uphold economic and political policy credibility, maintain a first-mover advantage, and establish control over the intellectual property rights associated with renewable energy technology.

Հարկաբյուջետային քաղաքականության ներառականության գնահատման մեթոդաբանական մոտեցումները / Methodological approaches to assessing the inclusiveness of fiscal policy

The idea of inclusiveness of economic development has become one of the main guidelines for developers and implementers of economic policies in many countries of the world. Issues related to inclusiveness make their comprehensive study relevant and topical. Recently, much attention to the problems of ensuring the inclusiveness of economic policy is associated with globalisation and technological change. The latter have the potential to significantly improve the quality of life of households and contribute to poverty reduction in some developing countries. On the other hand, the economic and financial crises and the resulting economic and social distortions make changes in research and management approaches inevitable. Thus, quantifying the inclusiveness of fiscal policy is a necessity as it provides valuable information on the efficient allocation of a state's financial resources. On the other hand, assessing the inclusiveness of fiscal policy can serve as a benchmark in the process of fiscal policy formulation. Individual authors in their studies approach the problems from different positions, use different groups of factors under consideration, use different research methods. The purpose of the study is to interpret and summarise the methodological approaches to assessing the inclusiveness of fiscal policy discussed in professional platforms and in the literature. By comparing the advantages and disadvantages of the evaluation methods, acceptable approaches to assessing fiscal policy inclusiveness for the Republic of Armenia were identified.

Տնտեսական աճի ներառականությանը միտված հարկաբյուջետային քաղաքականության միջազգային փորձ / International experience with fiscal policies for inclusive economic growth

The challenge for macroeconomic policy is to integrate policies that support economic growth and create and expand equal opportunities to participate in and benefit from the economy. This includes policies to improve the functioning of labour markets, reduce discrimination, support equal access to education and skills, and increase economic and financial inclusion in all parts of society. The idea of inclusive economic development has been introduced into academic discourse in recent decades and has become one of the main guidelines for economic policy makers and implementers in many countries around the world. The policy of formation and redistribution of public revenues through the state budget is important from the point of view of overcoming the existing inequalities in society and solving the problems of inclusiveness. Therefore, it is important to activate public policy with fiscal policy instruments, to increase its effectiveness in the context of ensuring inclusiveness of economic growth, mitigating inequality in the distribution of income and national wealth. This article studies and interprets the international experience and specific features of the application of fiscal policy oriented to the inclusiveness of economic growth, which is especially important from the point of view of identifying opportunities for its localisation in the Republic of Armenia. The conclusions drawn can be useful in the development of solutions aimed at increasing the inclusiveness of fiscal policy in the Republic of Armenia.

Harnessing robotics for environmental economics and energy strategy: Advancing global economic policies towards green growth

The composition of energy consumption is shifting from fossil fuels to renewable energy sources. Determining if reducing energy use may increase green factor production (GFP) is thus crucial. This study, which examines data from 2013 to 2019, indicates that GFP is impacted by both the Robotics and natural resource markets. It conducts a comprehensive analysis of Robotics's impact on the development of green economies using China as a case study and a suitable mathematical model, namely a static panel model (SPM). By applying robotics analytical powers and predictive modelling, the research sheds light on how economic growth and environmental preservation might be balanced, or “green growth.” The magazine aims to find synergies that support the incorporation of AI-driven solutions into policy frameworks, promoting a shift toward more environmentally sustainable practices globally by carefully analyzing global economic policies. It has been observed that different industries and development phases have other impacts of AI on carbon intensity. Furthermore, this investigation dissects GFP into its component elements, green efficiency improvement effects, and technological advancement to elucidate how AI influences green economic growth.

Բյուջետային ծախսերի կառուցվածքի ազդեցությունը տնտեսական աճի վրա (ՀՀ օրինակով) / The impact of the public expenditures structure on economic growth: Case of Armenia

The public budget is an important lever for the state regulation of the economy: it reflects the main directions and priorities of the state economic policy. In this context, there is a lot of discussion about the dynamics of the public expenditure multiplier, as well as the interaction between the structure of these expenditures and economic growth. The study of the dynamics of the multiplier of budgetary expenditures of Armenia over the last 15 years shows that it was higher than 1, making an average of 4.5 points. As a result of the research, we evaluated the impact of Armenia's budgetary expenditures on economic growth using an econometric model, based on quarterly data from 2008-2023. The results of the research show that the increase in the productive expenditures of the state budget in Armenia, such as those spent on education, healthcare and the national economy, contribute to the GDP growth rate, while the allocation of public funds to non-productive expenditures, such as defense and social sector expenditures, has a negative impact on the GDP growth rate.

Human Resources Management and Lean Management Tolls

For more than two decades, Algeria has been seeking to diversify its economy through optimal exploitation of available resources and not relying on energy resources. Therefore, the human resources sector has recently received great attention in Algerian economic policies. This research paper aims to research and show the relationship between human resources management and lean management, by studying a sample of workers in the Aïn Témouchent- Algeria Telecom - that is active in the field of services. Lean management refers to a technology that has been developed with the aim of reducing waste from the production process and maximizing the value of the product or service to the customer, without sacrificing quality, Formulated by Toyota's production system, it is part of the distinct thinking, We used the questionnaire as a main tool for this study, as it was distributed to a random sample of 40 workers in the institution under study.At the conclusion of this study, we concluded that there is a positive and statistically significant relationship between training, motivation and lean management, while there is less statistically significant relationship between evaluation, leasing and lean management.

Ethnic and racial violence and violations in the context of the Brazilian democratic crisis: a study of Black and Quilombola populations

ABSTRACT This article addresses the question of how the recent political context of Brazil shapes violations of various kinds against Quilombola communities in Brazil. Using data from online news sources, we track violations from 2016 to 2020 related to land disputes, physical attacks and threats, and environmental issues. We show that, despite the legal rights accorded to these communities since the 1988 constitutional reform and subsequent processes of democratisation, vested interests in the agricultural lobby and a later authoritarian turn, especially after 2016, led to a dismantling of social and economic policies for Quilombos. The violations suffered by these communities result from the denial of their collective identities as constitutional subjects and the non-recognition of their dignity, which are the product of historical processes of inferiorisation that have treated some people as non-subjects or not eligible to bear rights, based on colonial classifications but still present in the dominant society.

Economic policy uncertainty, cross-border capital inflows and credit asset allocation risk

This study investigates the impact of economic policy uncertainty on credit asset allocation risk with Chinese commercial banks as the research object. The study finds that economic policy uncertainty is positively related to credit asset allocation risk; cross-border capital inflows play a partly mediating role in the impact of economic policy uncertainty on credit asset allocation risk, and economic policy uncertainty increases credit asset allocation risk by suppressing cross-border capital inflows.

Minerals at the crossroads: Economic policies, global trade, and renewable energy in the global South

Minerals at the crossroads: Economic policies, global trade, and renewable energy in the global South

Geopolitical risks, institutional environment, and food price inflation

ABSTRACT This study investigates the relationship between heightened geopolitical risks and food price inflation using a panel data model that includes 33 countries from 2001 to 2020. Key findings show that geopolitical risks significantly raise the level of food price inflation, with a more pronounced effect observed in developing countries, and a reduced effect in countries characterized by high levels of individualism and masculinity. Furthermore, the effect of geopolitical risks on food inflation is moderated during economic booms and amid climate change concerns. In addition, we find that countries with strong connections to major food producers experience less impact from geopolitical risks. The study concludes that geopolitical risks are a crucial factor in food price inflation, particularly for vulnerable countries, suggesting that they should incorporate geopolitical considerations into their economic policies and strengthen ties with major food producers to mitigate this risk.

Do climate change risks affect the systemic risk between the stocks of clean energy, electric vehicles, and critical minerals? Analysis under changing market conditions

This paper analyzes the impact of climate change risks—specifically from natural disasters, global warming, international summits, and U.S. climate policy—on the return connectedness (systemic risk) of a network consisting of the stocks of clean energy, electric vehicles, and critical minerals in bear, bull, and normal market conditions. Employing a quantile vector autoregression (QVAR) approach, we find significant temporal variations in the total connectedness index, with notable spikes during the COVID-19 pandemic and the Russia-Ukraine war. Total connectedness is higher but less variable under bear and bull market conditions. Concerns about global warming has a positive and significant impact on systemic risk during bear and normal market conditions while international summits have a negative impact during normal market conditions. However, the effects of these climate change risks are small in magnitude. Economic policy uncertainty and stock market volatility have the largest positive impacts on systemic risk under most market conditions. Our results reveal a nonlinear (inverted U-shaped) relationship between variable importance and systemic risk quantile, showing that the impact on connectedness is largest in magnitude under normal market conditions.

Natural bedfellows: corruption, criminality and the failure of international reconstruction. A case study of the Kabul Bank

ABSTRACT Corruption remains a persistent feature in most transitional and fragile countries, raising questions around the processes and outcomes of international development and economic reforms. In the case of Afghanistan, conventional wisdom tends to blame domestic factors, including corruption, in the collapse of the internationally-backed Islamic Republic of Afghanistan, while largely neglecting the co-constitutive nexus between economic reconstruction, criminality, and political authority. Combining the political marketplace framework with a network analysis, this paper traces how a corrupt network formed around the Kabul Bank, grew and metastasised by leveraging neo-liberal and technocratic economic reform policies, and thus, gravely undermined the country’s governance and stability. By doing so, it argues that international reconstruction practices and resources reconfigured power in Afghanistan, and helped create a governance system governed by the logic of a criminalised political marketplace. The paper also demonstrates the utility of a political marketplace lens in explaining evolving political dynamics, with a network analysis to generate deeper insights into the complex interactions between the local and global dynamics that produce criminality, corruption, and state capture.

(Invited) On Solar Seawater Splitting

We are currently witnessing the widest worldwide environmental disasters and it is now crucial for the future of humanity to transition to novel societies where environmental, energy, and economic policies are no longer based on endless-growth financial models and fossil fuel technologies to decrease our environmental footprint. The origin of this strong imbalance between human activities and the environment is found in the endless-growth economic systems in place in major countries worldwide as it inherently requires the use of endless cheap energy to be sustained, hence the massive use of coal and fossil fuels as energy sources for a more profitable energy return on energy invested, which might be good for the economy but not for our environment, health, and sustainable future. Technological innovations have always helped boost the economy numerous times throughout civilizations yet it must involve large-scale, clean, and cost-effective fabrication techniques and be based on efficient earth-abundant and easily recyclable materials. A transition to hydrogen-based energy and economy is ideal as it produces zero carbon emission and hydrogen fuel cell and forthcoming hydrogen combustion transportation are available worldwide. However, most of the hydrogen produced comes from nonrenewable sources, i.e. by steam reforming of methane which produces very large amount of carbon mono/dioxide. The most natural, cleanest and sustainable way to produce hydrogen at large scale is by solar seawater splitting[1]. Our strategy is to fabricate earth-abundant and non-toxic devices consisting of oriented arrays of quantum rods/dots of high purity synthesized by aqueous chemical growth at low temperature without surfactant and with controlled dimensionalities and surface chemistry[2] with intermediate bands for high visible-light conversion, band structure edges optimized for stability against photocorrosion and operation conditions at neutral pH, low bias and no sacrificial agent. Such characteristics, combined with the in-depth investigation of their size dependent and interfacial electronic structure[3] and electrical properties[4] provide better fundamental understanding and structure-efficiency relationships for a cost-effective and sustainable generation of hydrogen from the two most abundant and geographically-balanced free resources available, the sun and seawater. An overview of such a strategy is presented for oxides, nitrides, sulfides as well as semiconductor-molecular catalysts hybrids[5], their low-cost and large scale fabrication, physical characterization, photogenerated charge dynamics, dopant segregation and thermal processing effects[1].[1] K.C. Bedin et al J. Am. Ceram. Soc. 2023, 106, 79; I. Rodriguez-Gutierrez et al ECS J. Solid State Sci. Tech. 2022, 11, 043001; J. B. Souza Jr et al Appl. Phys. Lett. 2021, 119, 200501; Y. Chen et al J. Mater. Chem. C 2021, 9, 3726; A. Tofanello et al J. Appl. Phys. 2020, 128, 063103; APL Mater. 2020, 8, 040905; Y. Wei et al Sol. Energy Mater. Sol. Cells 2019, 201, 110083; X. Guan et al ACS Energy Lett. 2018, 3, 2230; J. Phys. Chem. C 2018, 122, 13797; J. Su et al J. Phys. Chem. Lett. 2017, 8, 5228; ACS Energy Lett. 2016, 1, 121; Y. Tachibana et al Nat. Photon. 2012, 6, 511; C.X. Kronawitter et al Energy Environ. Sci. 2011, 4, 3889[2] L.Vayssieres, Adv. Mater. 2003, 15, 464; Int. J. Nanotechnol. 2004 , 1, 1; Int. J. Nanotechnol. 2005, 2, 411; J. Phys. Chem. C 2009, 113, 4733; J. Lützenkirchen et al Colloids Interfaces 2020, 4, 39[3] L.Vayssieres et al Appl. Phys. Lett. 2011 99, 183101; Adv. Mater., 2005, 17, 2320; C.X. Kronawitter et al Phys. Rev. B 2012, 85, 125109; Energy Environ. Sci. 2014, 7, 3100; Nano Lett. 2011, 11, 3855; J. Phys. Chem. C 2012, 116, 22780; PhysChemChemPhys 2013, 15, 13483; M.G. Kibria et al Adv. Mater. 2016, 28, 8388; K. Nie et al Nano Energy 2018, 53, 493; C.L. Dong et al Chem. Eur. J. 2018, 24, 18356[4] J. Wang et al ACS Appl. Mater. Interfaces 2019, 11, 2031; J. Engel et al Adv. Func. Mater. 2014, 24, 4952; I. Rodriguez-Gutierrez et al Electrochim. Acta 2019, 308, 317; Appl. Phys. Lett. 2021, 119, 071602; K. C. Bedin et al Chin. J. Catal. 2022, 43, 1247[5] T. Benko et al Catal. Sci. Technol. 2021, 11, 6411; Y. Wei et al Nano Res. 2016, 9, 156

Economic policy uncertainty, carbon emissions and firm valuation: International evidence

This paper explores how the uncertainty surrounding economic policies affects the decisions managers make, particularly with reference to carbon emissions. Notably, this is a pioneering effort as very few studies have examined the influence of economic policy uncertainty on decisions about either carbon emissions or renewable energy, and, in turn, the impact of these decisions on firm value. From a sample spanning 22 countries over the period 2007 to 2018, our results show that, while carbon emissions increase with policy uncertainty, this relationship is mediated by renewable energy consumption. Country factors such as climate change performance, emissions trading schemes, and business culture also affect this relationship. In countries where economic policy uncertainty tends to be high, firms generally have a lower market value, due in part to higher levels of carbon emissions. These findings highlight the importance of connecting policy uncertainty to decisions about carbon emissions and renewable energy. They also provide insights into the detrimental effects of policy uncertainty on firm value.

Understanding determinants of outward foreign direct investment: the role of economic policy uncertainty, institutional quality, and globalization

PurposeThis research aims to investigate the role of the economic policy uncertainty (EPU) in the outward FDI (OFDI) of the United Kingdom (UK) by considering the institutional quality (IQ) and globalization level of the host country as contextual factors.Design/methodology/approachThe UK’s OFDI to its twenty partners is analyzed by using the factor augmented model for the 2005–2019 period.FindingsThe results show that the EPU of the host country has a negative and significant effect on the UK's OFDI. Furthermore, the findings surprisingly illustrate that the globalization level of the host country has a negative and significant impact on the UK's OFDI. In terms of IQ, this study indicates that, while government effectiveness and regulatory quality have a negative and significant influence on the UK's OFDI, the rule of law has a positive and significant effect on the UK's OFDI.Originality/valueThis will be one of a few studies considering OFDI in the scope of EPU. Also, the contradicting results of the study add unique perspectives to the literature about the relationship between OFDI, globalization, and IQ.

How economic policies and development impact marine fisheries: Lessons learned from a transitional economy

This article examines the impact of economic growth on Vietnam’s marine fisheries and the effectiveness of government policies in promoting sustainability. Despite impressive economic growth, environmental concerns have become urgent and require serious consideration in Vietnam. The Vietnamese government has implemented policies to reduce over-exploitation in coastal areas and improve the efficiency of offshore fishing, but unsustainable practices and illegal fishing remain significant problems. This study examines the effects of transitioning from a centrally-planned economy to a ‘socialist-oriented’ market economy on the productivity and efficiency of Vietnam’s marine fisheries. The main focus is on productivity changes, with additional consideration given to technical progress, environmental changes, and management practices. The findings shed light on the complex relationships between economic development, environmental sustainability, and marine fisheries in Vietnam. The study highlights the importance of sustainable practices and effective government policies in promoting the sustainability of the country’s marine fisheries. This article provides valuable insights for policymakers and stakeholders concerned with the sustainability of marine resources in Vietnam and beyond.

Understanding the Economic Drivers of Climate Change in Southeast Asia: An Econometric Analysis

This study analyses macroeconomic trends in Southeast Asian countries and their implications for climate change, focusing on urbanisation, GDP per capita, energy intensity, FDI, inflation, and trade. Using panel data from 1970 to 2020, we investigate climate change drivers across Indonesia, Malaysia, the Philippines, Singapore, and Thailand through panel ARDL with PMG and MG analyses, along with Hausman tests. Our results highlight the need for tailored urbanisation policies for sustainability, as the consistent positive correlation between GDPs per capita and emissions, underscores the challenge of decoupling economic growth from emissions. Urbanisation’s varying impact calls for proactive planning, and mixed FDI results suggest nuanced investment approaches aligned with sustainability. Inflation’s negative impact hints at environmental benefits during price increases, necessitating integrated economic and climate policies. The positive relationship between trade openness and emissions emphasises the need for eco-conscious trade agreements to mitigate emissions from industrial activity. Our study stresses the importance of considering macroeconomic heterogeneity in crafting climate policies. Policymakers must adopt multifaceted approaches that prioritise sustainability across economic growth, energy efficiency, technology adoption, and trade to balance development with environmental preservation. This approach enables Southeast Asian countries to contribute effectively to global climate change mitigation.

Improve carbon emission efficiency: What role does the ESG initiatives play?

Driven by the "dual carbon" goal, it is essential to investigate whether companies can enhance carbon emission efficiency by improving Environmental, Social, and Governance (ESG) performance. This study investigates the relationship between ESG ratings and carbon emission efficiency among Chinese A-share listed companies. The study reveals that a higher ESG rating significantly improves carbon efficiency. Mechanism studies indicate that the effect of ESG mainly comes from easing financing constraints, promoting green innovation, and strengthening supervision. Additionally, the study finds that the impact of ESG on carbon emission efficiency is more pronounced in non-heavy polluting and non-state-owned enterprises. Economic policy uncertainty diminishes the positive effects of ESG initiatives on carbon efficiency, while enhanced governmental concerns to environmental significantly bolsters these impacts. This paper offers empirical insights that can inform adjustment of policies concerning ESG performance and carbon emission.

Economic Expertise at War: A Brief History of the Institutionalization of French Economic Expertise (1936–46)

Abstract French economic expertise developed significantly during the interwar period when economic issues, and particularly those resulting directly from World War I, became the overriding concern for Europe's democracies. Before the end of World War II, three major institutes of conjuncture had been created, all of them driven by the need for economic policy indicators. The IRES was established in 1933 by Charles Rist, the Institut Français de la Conjoncture was founded in 1938 by Alfred Sauvy, and ISEA was founded in 1944 by François Perroux. Not surprisingly, all three were working on productivity measures. From 1936, debate was focused on the issue of the forty-hour week and then moved to the context of the arms race and the preparation for an inevitable war. The war period resulted in shortages that required planning of production; and in the postwar period the focus was on plans for the reconstruction of France and then Europe more generally. All these periods generated demand for differentiated economic expertise in productivity. In 1946, the first French National Accounts were published alongside the establishment of the Commissariat Général au Plan and INSEE, which resulted in another distinct period.