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Journal articles on the topic 'National Monetary Commission'
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1
Saunders, Peter. "Monitoring and addressing global poverty: A new approach and implications for Australia." Economic and Labour Relations Review 29, no. 1 (February 5, 2018): 9–23. http://dx.doi.org/10.1177/1035304618756208.
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Tony Atkinson’s death at the beginning of 2017 deprived economics of one of its leading contributors to research on public economics, inequality, poverty and the welfare state. This article focuses on his last official role, as Chair of the World Bank Commission on Global Poverty. The report of the Commission – already referred to as the Atkinson Commission – proposes a new approach to measuring and monitoring the global poverty reduction targets established as part of the Sustainable Development Goals agreed by the United Nations in 2015. Atkinson developed the framework and provided the academic impetus to the work of the Commission and wrote much of its report, assisted by comments provided by an Advisory Board of eminent experts in the field and a smaller working group of selected members. The article describes some of the main features of the report’s 21 recommendations, focusing on the measurement of poverty in both monetary and non-monetary dimensions and its attempt to draw together national and global efforts to measure and reduce poverty in all its forms. It concludes with a discussion of the implications of the new approach for Australia, which like many other developed countries has so far failed to engage actively with the debate over addressing extreme global poverty. JEL Codes: D63, I32
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Asante, P. K. Asante. "Introduction of common currency ‘ECO’ in West African states: Problems, challenges and impact on the national economies of member states." Pentvars Business Journal 2, no. 1 (March 31, 2008): 84–95. http://dx.doi.org/10.62868/pbj.v2i1.35.
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This paper seeks to identify the problems, challenges, and the implications of introducing a common currency 'ECO' in West Africa on the economies within the sub region. Specifically, the study focuses on the mandates of trade, the Customs, Immigration and Monetary and Payment Commission under the institution of the economic order of West Africa States. The augmented gravity model of Rose (1999), Alesina (2000), and Barro and Tenreyro (2002) was used to estimate the effects of monetary union on trade. The result shows that the performance so far of member countries as at the end of 2002 in meeting the convergence criteria revealed that it was inadequate to support the launching of the monetary union in 2004. The study concludes that though the introduction of a single currency will foster trade within the West-African sub-region, most countries have difficulty meeting the convergence criteria that will foster smooth take off of the project. It therefore recommends that the implementation of the single currency and common monetary policy in West Africa should be a gradual process as most countries within the sub-region are not politically mature, let alone to meet the convergence criteria.
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Majone, Giandomenico. "Public policymaking and its analysis at National and European Levels." Studia z Polityki Publicznej, no. 2(6) (June 1, 2015): 9–40. http://dx.doi.org/10.33119/kszpp.2015.2.1.
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The author describes the specific features of public policy process at the European Unionlevel and its differences related to policy-making at national level. He underlines, amongother things that the policy agenda in the European Union is being shaped differently.At the national level the agenda is under greater influence of politicians who are closelyinterconnected with voters. At the European Union level the technocratic (not directlyelected) European Commission has a monopoly of legislative initiative. Furthermore, atthe European level feasibility studies – as an element of the pre-decision stage in publicpolicy-making – tend to be ignored. In nation-states we can see such analyses as a resultof competition taking place between those who rule and their political opposition. Atthe European Union level it is not the case. The author points out that these mechanisms would have been beneficial for the EU member states. They would have haltedthe implementation of decisions which ran the excessive risk. He has also in mind thedecision related to the introduction of the monetary union. In his opinion, this decisionwas made without a proper feasibility analysis (costs and profits). Basically, the decisionon a common currency was made on political rather than substantive grounds. A largenumber of experts were against the idea as they perceived serious risks involved in it.The supporters of greater European integration ignored the fact that the monetary uniondeprived nation-states of many factors that affected the economic development in a positive way. The point is that they were under influence of “total optimism” expecting only good results of the monetary union. The mechanisms of crisis management, including exitscenario from the monetary union, or methods of supporting those members who needfinancial aid, have not been even created. Furthermore, the evaluation of the monetaryunion was not properly carried out as it was based on the assessment of the process (forexample, smooth introduction of euro notes and coins or phasing out of the nationalcurrencies in 2002) and not of its results
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Lo Piano, Samuele, Emanuele Borgonovo, Arnald Puy, Andrea Saltelli, John Walsh, and Daniele Vidoni. "Improving the reliability of cohesion policy databases." PLOS ONE 17, no. 4 (April 22, 2022): e0266823. http://dx.doi.org/10.1371/journal.pone.0266823.
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In this contribution, we present an innovative data-driven model to reconstruct a reliable temporal pattern for time-lagged statistical monetary figures. Our research cuts across several domains regarding the production of robust economic inferences and the bridging of top-down aggregated information from central databases with disaggregated information obtained from local sources or national statistical offices. Our test bed case study is the European Regional Development Fund (ERDF). The application we discuss deals with the reported time lag between the local expenditures of ERDF by beneficiaries in Italian regions and the corresponding payments reported in the European Commission database. Our model reconstructs the timing of these local expenditures by back-dating the observed European Commission reimbursements. The inferred estimates are then validated against the expenditures reported from the Italian National Managing Authorities (NMAs) in terms of cumulative monetary difference. The lower cumulative yearly distance of our modelled expenditures compared to the official European Commission payments confirms the robustness of our model. Using sensitivity analysis, we also analyse the relative importance of the modelling parameters on the cumulative distance between the modelled and reported expenditures. The parameters with the greatest influence on the uncertainty of this distance are the following: first, how the non-clearly regionalised expenditures are attributed to individual regions; and second, the number of backward years that the residuals of the yearly payments are spread onto. In general, the distance between the modelled and reported expenditures can be further reduced by fixing these parameters. However, the gain is only marginal for some regions. The present study paves the way for modelling exercises that are aimed at more reliable estimates of the expenditures on the ground by the ultimate beneficiaries of European funds. Additionally, the output databases can contribute to enhancing the reliability of econometric studies on the effectiveness of European Union (EU) funds.
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Markowski, Łukasz. "Implementation of the Stabilizing Function of a Fiscal Policy in the Eurozone Countries." Olsztyn Economic Journal 17, no. 1 (September 30, 2022): 97–113. http://dx.doi.org/10.31648/oej.8697.
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The implementation of a stabilizing fiscal policy is of particular importance to the eurozone countries, which do not have the ability to make autonomous decisions in the scope of their monetary policy in order to ease fluctuations of an economic cycle. The aim of this research was to evaluate the implementation of a discretionary fiscal policy in selected countries of this bloc. The ex post analysis of the approaches to national fiscal policies, with a division into two research sub-periods, was conducted with statistical methods. Based on the official forecasts by the European Commission, a “real time analysis” was also made, which to some extent enables gaining an insight into plans and intentions of the governments at the moment of making budgetary decisions. The results call into question the use of discretionary fiscal policies in stabilizing the economic cycle at the national level in the studied Eurozone countries. It can be said that the reforms implemented after the financial and economic crisis had a limited impact on the intentions and the actual implementation of the fiscal policies in an anti-cyclical manner. It is then sensible to consider alternative mechanisms, which could successfully lessen the asynchronous fluctuations in production within the European monetary union.
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Bilous, V. V., and O. P. Bilous. "INNOVATIVE APPROACHES TO PERPETUATION OF MONEY AS MATERIAL EVIDENCE IN CRIMINAL PROCEEDINGS." Theory and Practice of Forensic Science and Criminalistics 17 (November 29, 2017): 55–69. http://dx.doi.org/10.32353/khrife.2017.07.
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The paper is devoted to the actual problems of innovative technologies introduction into the activity on crimes investigation. Based on the analysis of the state ofperpetuation by the bodies ofpre-trial investigation of money, acquired by criminally wrongful way or obtained by a legal entity as a result of a criminal offense commission, the authors distinguished typical violations of procedural orders and criminalistical recommendations in dealing with monetary notes as material evidence during the conduct of investigative (search) actions.
With the purpose of equipping the bodies of pre-trial investigation with modern scientific and technical means of field criminalistics, there was proposed the concept of a unique technical and criminalistic tool in the form of a manyfunctional multicurrency software and hardware complex, that in the processing of monetary notes - material evidence when carrying out investigative (search) actions, would ensure high-speed automated performance of such functions as: 1) detection of the validity of a large number of banknotes in national andforeign currencies ofdifferent denominations and years of issue, with recognition ofvarious types of falsifications, as well as souvenir products and special imitation means; 2) sorting; 3) recalculation with the determination of the total quantity and quantity by each note and total amount; 4) scanning and perpetuation by compiling and printing a detailed written description (appendix to the inspection protocol), andfull- colour digital photography and high-resolution video recording of not only the general form and machine-readable mandatory requisites of banknotes, but also various acquired criminalistic important signs (inscriptions, fingerprints, microparticles, spots of various substances of natural and synthetic origin, etc.); 5) data exchange in real time with databases of the National Bank of Ukraine and various criminalistics registrations, first of all, with a database of criminalistic accounting of monetary notes; 6) packing and sealing of seized monetary notes.
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Stern, Karl. "Valuutakontrolli rakendamine Eestis 1930. aastatel [Abstract: Implementation of exchange control in Estonia in the 1930s]." Ajalooline Ajakiri. The Estonian Historical Journal, no. 1 (May 3, 2017): 79. http://dx.doi.org/10.12697/aa.2017.1.03.
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Exchange control is generally managed by the national bank. Exporters have to transfer all of their earnings from foreign exchange to the national bank. The national bank considers different factors in redistributing foreign exchange among importers.
After the devaluation of the British pound in the autumn of 1931, cash cover for Estonia’s currency decreased rapidly. The leaders of monetary policy ignored the statutes of the National Bank of Estonia and urgently decided to implement exchange control.
The implementation of exchange control did not go very smoothly during its first years. Hurried implementation and lack of preceding explanation caused problems for entrepreneurs and citizens who were in need of foreign exchange. At first there was a great deal of dissension between the National Bank of Estonia and the Ministry of Economic Affairs. The ministry issued import licenses to importers but often the National Bank did not want to sell them any foreign currency (to be used to pay for goods) regardless of their legitimate licenses. The bank’s rationale for this course of action was the low level of cash cover for Estonia’s currency. This fact confirms the opinion prevalent in previous historiography that in its first years, exchange control was implemented for monetary policy purposes. Exchange control influenced almost everybody who needed to use foreign currency. Reasons had to be given even for the purchase of smaller amounts of foreign exchange.
After the devaluation of Estonia’s currency in the summer of 1933, exchange control was used to protect the interests of Estonian foreign trade. The Ministry of Economic Affairs and the National Bank started collaborating more efficiently. National Bank Exchange Commission decisions approving exchange applications demonstrate this as well. The commission accepted almost all applications for foreign exchange after the devaluation. The number of applications nearly doubled during the second half of the 1930s. Cash cover for Estonia’s currency increased and the National Bank’s exchange policy became more liberal. After the devaluation, one of the important criteria for giving foreign exchange to importers was the trade balance between the source country and Estonia. Preference was given to traders who imported goods from countries with which Estonia had a positive trade balance. Comparison of export and import in the 1930s shows that in general, Estonia managed to maintain its trade balance. At the same time, exchange control had a negative effect on incentives. In countries where exchange control was implemented, trade volume recovered more slowly in the latter half of the 1930s than in countries where it was not implemented.
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Beloborodko, A. "Transformation of financial institutions of the states-members of the Eurasian economic union during the COVID-19 pandemic." Siberian Financial School, no. 2 (June 10, 2021): 42–51. http://dx.doi.org/10.34020/1993-4386-2021-2-42-51.
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The search for a balance between reproduction and consu-mption, the need to correct expenditures and the interconnection of national financial institutions have become one of the aspects of further economic integration of the EAEU countries in the period 2020-2021. The governing body of the Eurasian Economic Union (EAEU), the Eurasian Economic Commission (EEC), proposed a fiscal reform to increase the economic growth rate of the union, which predetermined the need for a structural transformation of financial institutions aimed at stimulating innovation in the countries of the Eurasian region. The article analyzes the forecasts of experts from the Bank of Russia, the International Monetary Fund, the World Bank for the period 2021-2022 for the EAEU member states and assesses measures to restructure their financial institutions.
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YERASHEVICH, A. "PREPARATORY MEASURES FOR THE OPENING OF THE POLOTSK CADET CORPS: ORGANIZATIONAL AND FINANCIAL ASPECTS." Herald of Polotsk State University. Series A. Humanity sciences 66, no. 1 (February 10, 2023): 55–64. http://dx.doi.org/10.52928/2070-1608-2023-66-1-55-64.
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This article touches on the organizational and financial aspects of the set of preparatory measures undertaken by the Russian authorities during the creation of the Polotsk Cadet Corps in 1830–1835. The reasons for the creation of a network of provincial cadet corps in Imperial Russia, the prerequisites for the opening of a cadet corps in Polotsk – a closed-type secondary military educational institution in the district center of Vitebsk province – are investigated. The process of creating a construction commission, recruiting its personnel, and raising finances is revealed. Special attention is paid to the search and selection of buildings for the accommodation of the Polotsk Cadet corps and the preparatory measures for the arrangement of cadet buildings. Quantitative indicators of the allocation of funds for the reconstruction of Paezut buildings are determined. The condition of the rebuilt cadet buildings and other additional works on the adaptation of the cult building up to 1839 are characterized. Data on the monetary settlements with contractors and information on the remuneration of commission members are provided. The mechanism of collecting funds for the foundation of the cadet corps in Polotsk is indicated, their quantitative results until 1839 are revealed. Most of the information extracted by the author from the funds of the National Historical Archive of Belarus and given in the article is used for the first time in the national historiography.
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Birss, G. R. "Methodology for the assessment of the damage cost resulting from a large earthquake in the vicinity of Wellington." Bulletin of the New Zealand Society for Earthquake Engineering 18, no. 3 (September 30, 1985): 215–23. http://dx.doi.org/10.5459/bnzsee.18.3.215-223.
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At the request of the Earthquake and War Damage Commission, the New Zealand National Society for Earthquake Engineering set up a study group to determine the maximum probable loss the Commission may suffer by way of claims resulting from a large earthquake with its epicentre near Wellington.
The study group's task was to determine the order of cost of physical damage to buildings and their contents which could credibly be expected to result from large earthquake attack.
Seismic loss information for New Zealand conditions is minimal and it was therefore necessary to critically review published overseas data. Where appropriate, adjustments were made to accommodate New Zealand conditions.
Loss information was compiled as the ratio of damage cost to building value and varied with felt earthquake intensity as well as with type of building construction.
The total value and structural classification of the building stock in the affected area was compiled and entered on a computer. A program was set up to enable loss calculations to be carried out for the appropriate building classification and for the relevant earthquake intensities. From this the total loss was calculated.
The results of the study expressed as monetary loss are confidential to the Earthquake and War Damage Commission. In this paper, therefore, results are not presented in absolute dollar terms, but are given as relative values.
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Braun, Benjamin, and Marina Hübner. "Fiscal fault, financial fix? Capital Markets Union and the quest for macroeconomic stabilization in the Euro Area." Competition & Change 22, no. 2 (February 14, 2018): 117–38. http://dx.doi.org/10.1177/1024529417753555.
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This article seeks to situate and explain the European Union’s push for a Capital Markets Union – and thus for a more market-based financial system – in the broader context of macroeconomic governance in politically fractured polities. The current governance structure of the European Monetary Union severely limits the capacity of both national and supranational actors to provide a core public good: macroeconomic stabilization. While member states have institutionalized fiscal austerity and abandoned other macroeconomic levers, the European polity lacks the fiscal resources necessary to achieve stable macroeconomic conditions – smoothing the business cycle, ensuring growth and job creation and mitigating the impact of output shocks on consumption. Capital Markets Union, we argue, is the attempt of European policymakers to devise a financial fix to this structural capacity gap. Using its regulatory powers, the Commission, supported by the European Central Bank (ECB), seeks to harness private financial markets and instruments to provide the public policy good of macroeconomic stabilization. We trace how technocrats, think tanks, and financial-sector lobbyists, through the strategic use of knowledge and expertise, established securitization and market-based finance as solutions to the European Monetary Union’s governance problems.
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Hersusetiyati, Hersusetiyati, and Tatang Sudrajat. "KPPU, Prohibition of Monopoly and Unfair Business Competition: Policy and Organizational Perspective." Jurnal Administrasi Bisnis 12, no. 1 (January 17, 2023): 10–19. http://dx.doi.org/10.14710/jab.v12i1.42899.
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National improvement withinside the monetary field, will boost up the fulfillment of people's welfare. A wholesome monetary lifestyle calls for identical possibilities for residents to do commercial enterprise. The coverage of prohibiting monopoly and unfair commercial enterprise opposition is a strategic remember for the countrywide economy. The established order of the Business Competition Supervisory Commission (KPPU) with state/authority’s policies is an essential step in the direction of monetary democratization. Using normative juridical strategies and literature, it seems that the choice of the state/authorities through issuing Law Number five of 1999, Government Regulation Number forty four of 2021, and Presidential Decree Number seventy five of 1999 is a public coverage concerning the essential function of KPPU and the prohibition of monopolistic practices and unfair commercial enterprise opposition. This is an important basis for the KPPU's determination of operational policies. There are arrangements for KPPU's organizational dimensions in the three regulations, namely objectives, formalization, standardization, hierarchy of authority, specialization, professionalism, and organizational size, some of which are not regulated adequately. This will determine the effectiveness of the implementation of its duties and authorities as a supervisory agency. KPPU is also faced with challenges and political contexts that are not easily aligned with the independent nature of its organization. In the context of democracy, KPPU needs to strengthen its position by continuously improving the quality of its performance. It is necessary to improve several dimensions of the KPPU's organization in the regulations that govern it.
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Pishchik, V. Ya, P. V. Alekseev, and F. P. Orlov. "Factors and Directions of Transformations of the Integration Financial and Economic Cooperation of the EAEU Countries in Modern Conditions." Finance: Theory and Practice 26, no. 6 (December 30, 2022): 88–103. http://dx.doi.org/10.26794/2587-5671-2022-26-6-88-103.
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The article defines and analyzes the features, factors, and directions of transformation of the model of regional monetary and financial integration of the countries of the Eurasian Economic Union (EAEU). The aim of the study is to develop and systematize a set of measures to develop the investment direction of integration cooperation between the EAEU countries, reduce their dependence on the highly volatile international economic and financial environment and neutralize the negative impacts of Western sanctions for national economies. The objectives of the study are as follows: analysis of trends and problems of the investment process in the economies of the EAEU countries for 2013–2021, substantiation of proposals and recommendations for optimizing the model of integration financial and economic cooperation of the EAEU countries based on increasing the regulatory role of the state and regional financial institutions in attracting investments. The research methodology includes the analysis of the EAEU legal framework, statistical information, official reports of state bodies of the EAEU countries and the Eurasian Economic Commission, regional development institutions, scientific monographs and publications of Russian and foreign economists, and periodicals. Based on the methods of econometric analysis, the expediency of introducing into circulation a monetary unit of collective use of the EAEU countries independent of the US dollar and euro for mutual settlements is substantiated. The authors conclude that it is necessary to supplement and, in some cases, substitute the predominantly market-oriented model of Eurasian financial and economic integration with a regulatory investment model of regionalization with an increased role of national and regional management institutions in promoting integration processes.
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Zhytar, Maksym, and Borys Samorodov. "INFRASTRUCTURAL ASSURANCE OF THE MECHANISM FOR REGULATING IMBALANCES IN THE MOVEMENT OF FINANCIAL RESOURCES OF THE UKRAINIAN ECONOMY IN THE CONTEXT OF EXTERNAL FLUCTUATIONS." Financial and credit systems: prospects for development, no. 1 (April 15, 2022): 28–35. http://dx.doi.org/10.26565/2786-4995-2022-1-03.
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The article proves that the state regulation of negative manifestations in the functioning of the financial architecture of the national economy is carried out on the basis of a list of effective instruments of national financial policy, directly fiscal and monetary. It is determined that the subjects of ordinary state regulation of the financial architecture of the national economy are the National Bank of Ukraine, the National Commission on Securities and Stock Market, other regulatory bodies (such as the Antimonopoly Committee of Ukraine and the Ministry of Finance of Ukraine and others). It is proposed to include in the goals of such regulation: protection of socio-economic interests of potential participants in financial architecture; equal access of relevant market participants to various components of the financial architecture; support of healthy competition in the financial market, level of transparency and openness, gradual integration into the international financial architecture. It is concluded that the presented strategic directions for state regulation of negative manifestations in the functioning of the financial architecture of the national economy are aimed at forming a reliable system for protecting the rights of investors, as well as protecting socio-economic interests of relevant consumers of financial services. The regulatory mechanism is presented, under which we propose to understand the interconnected system of subjects, forms, instruments and objects of financial market regulation, which operates to achieve sustainable development of financial architecture and all its components, which is generally aimed at improving the sustainability of national economy.
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Kolodko, Grzegorz W., and Marta Postula. "Determinants and implications of the eurozone enlargement." Acta Oeconomica 68, no. 4 (December 2018): 477–98. http://dx.doi.org/10.1556/032.2018.68.4.1.
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To join the Eurozone (EZ), a candidate country has to fulfil five nominal Maastricht convergence criteria and ensure compliance of national legislation with the acquis communautaire. With this regard special difficulties pose the fiscal criterion relating to the maximum allowed budget deficit of 3 per cent of GDP. If it is not met, the European Commission launches the Excessive Deficit Procedure. Currently, such formula applies to France, Spain and the United Kingdom. Although the issue is not absolutely certain, one can assume that euro will weather the present difficulties and will come out stronger, though the economically unjustified Euro scepticism of some countries is not helping. It may be expected that in the 2020s the European Monetary Union will be joined by all countries that are still using their national currencies and that the EU will be extended to include new member states, enlarging the euro area further. In this article authors are discussing the issue whether Poland will join the EZ in the coming years, considering the challenges of meeting all Maastricht criteria, on the one hand, and the reluctance of the government to give up the national currency, on the other. A mixed method combining the results of qualitative and quantitative research has been used to empirically verify the research question presented.
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Wade, Robert Hunter. "The Causes of Increasing World Poverty and Inequality; Or, Why the Matthew Effect Prevails." International Journal of Health Services 35, no. 4 (October 2005): 631–53. http://dx.doi.org/10.2190/5ylf-x5k4-tgfh-em56.
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This article challenges the liberal (or “neoliberal”) argument that free trade in goods and services (including financial services) makes for better overall economic performance at the level of the world economy and the level of national economies. Liberal champions infer that those who oppose the liberal prescriptions either fail to understand the theory or seek to protect vested interests, and hence regional bodies such as the European Commission and international bodies such as the World Bank and International Monetary Fund should properly push the liberal agenda under the banner of “the general interest.” The author presents theoretical and empirical grounds on which to challenge the argument. He shows that Henry George's enigma— the association of poverty with progress—is still with us, and relates its persistence to the way that the positive feedback of the Matthew effect— “to him that hath shall be given”—dominates the negative feedback of neoclassical diminishing returns.
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Safitri, Yuanita, and Mia Angeline. "SOCIAL MARKETING ASPECT IN ANTI-VIOLENCE AGAINTS WOMEN CAMPAIGN IN INDONESIA." INJECT (Interdisciplinary Journal of Communication) 4, no. 1 (July 26, 2019): 93. http://dx.doi.org/10.18326/inject.v4i1.93-114.
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This article aims to answer how anti-violence against women campaigns and social marketing aspects are carried out by the four selected institutions or communities in 2016-2018 period. The four institutions chosen were UN Women, the Alliance of New Men, Indonesian OBR, and The National Commission on Violence Againts Women. The four institutions were chosen because they were considered as the most active institutions or communities in voicing the issue through online media. This research used descriptive qualitative approaches and case study methods. The result shows that the anti-violence against women campaign from four institutions is included in the social marketing concept and uses the marketing mix. Products sold are not like the commercial marketing, but the 16 Days Anti Violence Against Women event, and information to the target audiences. The price concept used is non-monetary incentives, and the distribution channels used are quite diverse, both online and offline.
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Obinna Darlington Madukwe and Daniel Chukwudi Okeke. "Effect of Inflation on Pension Fund Investment in Federal Government Securities in Nigeria." World Journal of Advanced Research and Reviews 14, no. 3 (June 30, 2022): 074–85. http://dx.doi.org/10.30574/wjarr.2022.14.3.0471.
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This study investigated the effect of inflation on pension fund investment in federal government securities in Nigeria utilizing time series data spanning from 2007 to 2019. Ex-post facto was the research design used in the study. Secondary data for the period were collected from the National Pension Commission Annual Reports and Central Bank of Nigeria Statistical Bulletin. Data collected were analyzed and tested for unit root, using the Augmented Dickey-Fuller test. While Ordinary Least Square (OLS) estimation technique was used to test the hypothesis. The result revealed that inflation rate did not significantly impact on pension fund investment in federal Government Securities in Nigeria. This result implies that pension funds invested in federal government Securities yield adequate return on investment capable of withstanding the adverse effect of rising rate of inflation in Nigeria. This could be that, the volumes of monthly pension contributions channeled into Federal Government Securities actually cover the effect of inflation on pension fund investment in federal government securities in Nigeria. Based on the findings of the study, it was concluded that inflation did not significantly impact on pension fund investment in federal government securities in Nigeria. In line with the findings of the study, it was recommended that Nigerian Pension Industry should continue to advocate that policy makers target reduction in the monetary policy rate and also stabilize the value of Naira in order to enhance actual value of pension benefits in the long run. Also, the National Pension Commission should differentiate the monthly contributions that come into the pension fund investment in the annual report so as to determine the actual return on investment of various securities where pension fund is invested.
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Oleynik, Olga, Andrey Oleynik, and Ekaterina Stepanova. "Features of Measuring Poverty Indicators: International and Russian Experience." Regionalnaya ekonomika. Yug Rossii, no. 4 (December 2020): 53–63. http://dx.doi.org/10.15688/re.volsu.2020.4.5.
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The paper provides a comparative analysis of methodological approaches to poverty measuring in the Russian Federation and in the global perspective in the current situation on the following key aspects: methods of poverty measuring in official statistics, problems in defining and measuring subjective poverty in different countries. Through the empirical qualitative research we analyzed a wide base of official data and reports of the United Nations Economic Commission for Europe (UNECE), the Eurasian Economic Commission (EEC), the Interstate Statistical Committee of the Commonwealth of Independent States (CIS STAT), the Federal State Statistics Service, and subsequently analytically interpreted them. According to the results of the study, it was concluded that different countries use various methods of measuring the level of poverty and criteria for its assessment. This situation does not relate to the analytical needs of the society, government authorities and scientists. The Guide of UNECE was developed in order to ensure international comparability and accessibility of poverty indicators. The Guide substantiates the indicators and identifies the needs for appropriate baseline data for measuring poverty, and offers methodological recommendations for national statistical services. The multidimensional measurement of poverty is currently relevant. This approach allows to take into account not only monetary indicators, but also other aspects of people’s life, such as health, living conditions, education, involvement in economic and social relations, etc. The study of the methodological features of poverty measuring in Russia revealed the need for a more detailed development of poverty indicators. At present, the Federal State Statistics Service is adopting new measures in order to include the Indices of Material Deprivation and Poverty and Social Exclusion Risk into the national list of indexes of Sustainable Development Goals. In addition, currently the transition to new methodological and practical approaches to Population Income Survey is being carried out.
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Huang, Chiung-Ju, and Yuan-Hong Ho. "The impact of national fiscal rules and government effectiveness on the procyclicality of fiscal policy in the Asia-Pacific countries." Journal of Governance and Regulation 9, no. 1 (2020): 35–43. http://dx.doi.org/10.22495/jgrv9i1art3.
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Fiscal rules are institutional approaches aimed at maintaining fiscal credibility and fiscal discipline and usually set a numerical indicator. Currently, there are two sources of fiscal rules. One is the International Monetary Fund (IMF) dataset that provides country-specific details on various characteristics of rules for 96 countries and the other is European Commission – numerical fiscal rules index that provides the fiscal rule index for 28 member countries. Because of the lack of fiscal rule index for the Asia-Pacific countries, the purpose of this study is to construct the fiscal rule index for 8 Asia-Pacific countries from 1996 to 2015 by using the IMF dataset. Then, this study utilizes the Panel Generalized Method of Moments and the constructed fiscal rule index to investigate the impact of fiscal rules and government effectiveness on the procyclicality of fiscal policy in 8 Asia-Pacific countries, classified as “advanced economies” and “emerging economies”. The empirical results show that fiscal rules and government effectiveness are effective in reducing the procyclicality of government expenditure only in advanced economies. Additionally, the interaction of fiscal rules and government effectiveness has a negative impact on the procyclicality of government expenditure for both advanced economies and emerging economies but the effect is not significant in emerging economies.
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Špirić, Jovanka, Ana Edith Merlo Reyes, Ma Liliana Ávalos Rodríguez, and M. Isabel Ramírez. "Impacts of REDD+ in Mexico: Experiences of Two Local Communities in Campeche." Sociedad y Ambiente, no. 24 (November 4, 2021): 1–33. http://dx.doi.org/10.31840/sya.vi24.2387.
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In 2010, the Mexican National Forestry Commission (Spanish acronym CONAFOR) implemented REDD+ early action activities in priority states, including Campeche. This article explores the impact of the forestry programs promoted under REDD+ on the diversification of household activities, benefit-sharing among local groups, and forest cover changes in two local communities in Campeche. It examines whether the design and implementation of these programs responded to local aspirations for equity and rural development by combining ethnographic and documental methods. In addition, it quantifies land-cover change (2013-2018) using high-resolution imagery and spatial analysis. It found no intracommunity equity or sustainable activity diversification resulting from the REDD+ implementation. Deforestation for livestock and agricultural mechanization was the dominant process observed both in dense and open forests. Although it has not made the situation worse, REDD+ has yet to provide social benefits for these two communities. To be considered a viable option locally, the program design under REDD+ must combine the implementation of several sustainable productive activities over a longer period and provide net monetary benefits to all local groups.
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Blom, Phenyo, Mohammed Jahed, and Shikha Vyas-Doorgapersad. "Unemployment Reduction Targets to Realise NationalL Development Plan Vision 2030." Journal of Economic Development, Environment and People 12, no. 2 (June 30, 2023): 48–64. http://dx.doi.org/10.26458/jedep.v12i2.806.
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One of the main and most dynamic challenges confronting South Africa is the high unemployment rate, which has been increasing more rapidly than the country’s economic growth. The unemployment rate is increasing every year, supplemented with financial crisis as the South African economy is experiencing a drastic recession and jobs are getting lost. In 2012, the National Planning Commission (NPC) implemented a new long-term strategy, the National Development Plan Vision 2030 (NDP), which is set over an 18-year period (2012 to 2030). The NDP was introduced to meet the government’s objectives, which include economic growth, reducing triple challenges (unemployment, poverty and inequality) and improving service delivery. The main aim of the research is thus to assess the progress of the unemployment reduction targets set by the NDP, as well as recommend strategies that can be implemented to attain the unemployment reduction target and reduce unemployment to (under) 6%. The study employed a qualitative research method and a case study research design. Through literature review, information was compiled through studying budget reviews, the Public Finance Management Act (PFMA), press releases from international capital markets (International Monetary Fund and World Bank), official government documents, academic/scholarly newspapers, and relevant legislation. The finding explore that many factors hinder or impede the government from achieving its objectives, such as slow economic growth, the impact of Covid-19 on the labour market, skills gap and mismatch, the education system in South Africa and a severe lack of entrepreneurship. The article makes policy recommendations for improvement.
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Weick, Daniel P. "Competition Law and Policy in Senegal: A Cautionary Tale for Regional Integration?" World Competition 33, Issue 3 (September 1, 2010): 521–40. http://dx.doi.org/10.54648/woco2010041.
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This article surveys the development of competition policy in Senegal since 1994. It discusses the original Senegalese competition law and its early enforcement and the pre-emption of Senegal’s competition law enforcement by a decision from the West African Economic and Monetary Union (WAEMU) Court of Justice. Because Senegal had begun to develop competition law enforcement competency and the WAEMU is severely lacking in competition law enforcement resources, the pre-emption decision has been a disaster for competition policy in Senegal. Participation in WAEMU is on balance beneficial to Senegal and the Court of Justice is unlikely to revisit its opinion, so this paper examines ways Senegal may rehabilitate competition policy and promote liberal markets within the boundaries of the Court of Justice opinion. While not ideal, use of sector-specific regulations, criminal penalties for cartel behaviour, and aggressive pursuit of competition investigations with an eye to forcing WAEMU action could all provide the necessary oversight to open and preserve liberal markets. The Senegalese National Competition Commission should also undertake appropriate studies to develop a more comprehensive understanding of the Senegalese economy and the competition problems it faces.
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CAVALLI, ALESSANDRO. "Social sciences and European society in the making." European Review 13, no. 3 (July 2005): 327–35. http://dx.doi.org/10.1017/s1062798705000487.
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The study of the European integration process offers a serious challenge for the social sciences. It is easy to understand why the disciplines of law, economics, and political science have made the most relevant contributions to the study of the Europeanization of our societies. From the treaty creating the European Coal and Steel Community in May 1951 to the establishment a few years later of Euratom, from the treaty of Rome to the European Economic Community (EEC), from the European Single Act to the Maastricht treaty and the Monetary Union, from the treaties of Amsterdam and Nice to the recent Convention that resulted in the proposal for a European Constitution, all of these historical events during the second half of the twentieth century mark a process of transferring sovereignty rights from nation-states to European institutions. The Council, the Commission, the Parliament, and the European Court of Justice are substantial innovations from the point of view of public law. They are not ‘state institutions’, nor are they intergovernmental agencies. In many domains, the influence of European regulations on national legislation is impressive. The amount of literature in all languages on the legal aspects of European integration is astonishing.
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Olszewska, Karolina. "Nierówność cyfrowa w gospodarce UE — zarys problematyki." Ekonomia 26, no. 1 (August 6, 2020): 35–54. http://dx.doi.org/10.19195/2658-1310.26.1.3.
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This article outlines how the rapid evolution of the ICT sector in highly-developed economies has resulted in digital inequality between the EU-15 and countries that joined the EU in the first and second decades of the 21st century. The main hypothesis of the study is that digital inequality be-tween the economies of EU member states weakens the competitiveness of the EU in the area of EU economy 4.0 in the global market and could threaten European digital sovereignty, including the issue of access to public and private data and digital identity protection. The results of the an-alysis show that the currently existing digital inequality widens the digital gap between the EU and the US and China, and further bolsters the digital dominance of non-European countries. The main challenge lies in providing national economies of Central and Eastern Europe with appropriate instruments that would allow them to make up for these digital deficiencies . The study used critical literature analysis and data contained in the reports of the OECD, the International Monetary Fund, the World Bank, UNCTAD, WTO and European Commission materials.
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Gavris, Ionuţ, and Valentin Toader. "THE PROBABILITY OF UNCERTAINTY: ROMANIA’S GROWTH PERSPECTIVES." Annals of the University of Oradea. Economic Sciences 30, no. 30 (1) (July 2021): 71–81. http://dx.doi.org/10.47535/1991auoes30(1)006.
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This paper follows the already existing literature to address three main pressing concerns that Romania is currently facing with respect to sustainable development and economic growth, which has likely been impeded as a direct consequence of the ongoing sanitary crisis. The research questions of this paper were asked with the consideration of finding possible solutions to the current developments. These questions were “How will the global health crisis project on Romania’s GDP growth in 2021 and going forward?”, “To what extent can Romania face its current challenges with respect to the budgetary pressures?”. The research itself was conducted using the R programming language with quantitative data, namely quarterly GDP starting from 2005 Q1 onwards and its main objective is to simulate Romania’s GDP to answer the aforementioned questions. Therefore, this research is empirical in the sense that it derives the simulated data from real data which was taken from Eurostat. The main findings of this research were that Romania’s GDP could grow by a mean 3.2% in 2021, which is more conservative than the existing institutional forecasts made by the European Commission, the International Monetary Fund, World Bank and the Romanian National Commission for Strategy and Forecasting, implying that the majority of the simulated outcomes have been in that respective range of values. Moreover, this research also finds that consumption is expected to increase by approximately 4.2% and that the budget deficit relative to GDP could go as low as to negative 7.8%. This paper creates value for future policymaking as it proposes solutions which could help Romania going forward. Thus, this paper creates value for not only the policymakers but the society as a whole.
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Bazoti, Pery. "The missing European Deposit Insurance Scheme." Region & Periphery, no. 9 (July 29, 2020): 151. http://dx.doi.org/10.12681/rp.23789.
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The European Banking Union embarked as a highly ambitious project of the European Union as a response to the signifi cant fl aws and weaknesses in the original architecture of the European Monetary Union that became apparent during the economic crisis. However, the establishment of a single European banking system has stumbled upon the creation of a common deposit insurance scheme that could safeguard depositors and create a more stable fi nancial framework in the euro area. The European Deposit Insurance Scheme (EDIS) was fi rstly introduced by the European Commission in 2015. As a bold proposal that comprises wide risk mutualization among the euro area member states, it has spurred a vivid discussion in the European public speech and many proposals have been made since then altering its original planning in an effort to tackle the moral hazard concerns that have risen. The present article, after discussing the reasons that keep obstructing EDIS, presents these suggestions that move around, primarily, the role of the national deposit guarantee schemes. However, as highlighted in the article, before moving to any alterations on the structure and role of a proposed common deposit insurance scheme, signifi cant risk minimization on behalf of the national banking systems, must precede by limiting the sovereign exposures of banks and the size of the Non-Performing Loans. Such steps of risk minimization are critical for addressing concerns and the political unwillingness demonstrated by several European countries in moving forward towards deeper integration.
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De Becker, E. "The (Possible) Role of the Right to Social Security in the EU Economic Monitoring Process." German Law Journal 17, no. 3 (June 1, 2016): 277–314. http://dx.doi.org/10.1017/s2071832200019787.
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The outbreak of the financial and economic crisis in 2008 had a severe impact on the member states of the European Union. Countries like Greece had to ask the Troika (the European Commission, the European Central Bank and the International Monetary Fund) for financial aid. In return, they were obliged to reduce public spending and, as a result, national social security systems were drastically reformed. Furthermore, the EU has exercised its competences to supervise national budgets more extensively, even for countries not applying for financial aid through the Country Specific Recommendations under the European Semester. Like the decisions providing financial support, these recommendations also touch upon member states' social security systems. Moreover, the actions of the EU seem to generate a tension between the social rights provisions in (inter)national human rights instruments and the EU economic monitoring process, hence creating a possible deficit at the level of the EU. The five collective complaints against Greece under the framework of the European Social Charter (Council of Europe) illustrate this tension. This Article investigates this tension further and provides insights in possible ways to close the gap between (inter)national social rights provisions and the EU economic monitoring process by looking at the right to social security in the EU legal order. In doing so, this Article scrutinizes the judicial safeguards available at EU level, namely the right to social security in the Charter of Fundamental Rights (CFEU) and the role of general principles of Union's law for the protection of fundamental rights. It will become clear that a lot of uncertainty still remains regarding the content and scope of the right to social security in the CFEU, as well as the enforceability of this provision in the EU economic monitoring process.
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Memeti, Nora. "Monetary Fines in EU Mergers: In Need for More Regulation." Market and Competition Law Review 3, no. 1 (April 1, 2019): 209–33. http://dx.doi.org/10.7559/mclawreview.2019.320.
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Monetary fines represent an important instrument to address violations of Competition Law. The European Commission (EC) and the EU Courts have been primarily engaged in imposing fines in cases of breach of the first pillar, and have rarely dealt with cases of abuse based on the fining guidelines issued in accordance with Article 23(2) of Regulation 1/2003. Compared to the first two pillars, mergers have not received similar scholarly attention.1 2 Since 2017, the EC has expressed a growing interest in investigating and imposing significant fines to mergers and acquisitions in breach of procedural matters. Therefore this article addresses the application of Article 14 of the European Union Merger Regulation (EUMR) in imposing fines to mergers with European Union (EU) dimension. The EC decisions and EU Courts’ judgments related to fines on mergers in breach of procedural matters are discussed in four specific sections. The first section analyses article 14(1) of the EUMR, which empowers the EC to impose a fine of up to 1% of the total turnover in the preceding business year on undertakings for breach of procedural matters, including, among others, for providing incorrect or misleading information. This section will address the case of Facebook as the first case in which the EC imposed fines based on the new EUMR. In this case, although the undertakings mislead the EC, based on the offered cooperation, the Authority decided to reduce the fine. In addition, it is also important to address the legal basis applied by the EC in accepting the offered cooperation as a mitigating factor and whether this may develop into a guiding “precedent” in the future. The second section deals with five cases of violations of articles 4(1) and 7(1) EUMR related to fines prescribed in article 14(2) EUMR. With regards to four of them, judgments of EU Courts and decisions of the EC and National Competition Authority (NCA) are analysed. The fifth case, the one on Ernst and Young, provides for the first preliminary ruling on the notion of “gun-jumping”. The third section deals with Article 14(3) and the fining methods on mergers. By reviewing each of these five cases, it is important to address factors taken into consideration when imposing fines. An obvious deficiency is the absence of a legal basis, regardless of whether manifested in hard or soft law. Here it is relevant to inquire in what manner the EC imposes fines and why it occasionally mirrors the fining guidelines applicable to other pillars of EU Competition Law. The last point to be addressed is the one of policy and the need to balance EC discretional powers and relevant legal principles such as legal certainty, equal treatment, transparency, and consistency.3 The fourth section provides for concluding remarks.
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Becker, Ra Jochen. "European Harmonization Versus National Constitutional Sovereignity – On the Example of the Measures to Contain the Crisis of the Common European Currency." Creative and Knowledge Society 5, no. 1 (July 1, 2015): 66–82. http://dx.doi.org/10.1515/cks-2015-0006.
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Abstract The Eurozone Crisis is not just a monetary and economic challenge. It is as well the first tremendous challenge of the European Community and as well the national institutions and constitutions of the member states not only within the Eurozone. On one side the European Commission, the European Parliament and the ECB with its endeavours to safeguard and stabilize the single currency EURO within the Eurozone, to support the suffering countries in the south (PIIGS) with its struggle against speculative hedge funds, to render financial relief measures to those countries and its financial industry. Irrespective the fact governments and citizens within that countries, less appear to appreciate or honor that measures (Troika, Financial checks and budgetary control) as efficient help to stabilize but condemn as form of European paternalism and patronage. On the other hand the countries and its citizenship especially in the north of the Eurozone to set a stop sign to the EU and the ECB. Therefore they stress the Maastricht criteria and cite the Art 125 of the TEU, which prohibits one nation to stand for or to be liable for the Government debts of another nation (no bail out). Especially in the German perspective the demarcation line appears to run along between the European Commission, European Central Bank and European Court on the European side and the Bundesverfassungsgericht, the Bundesbank on the national German side. Each of the institutions feels to be bound to its origin functions and principles and save the respective constitution and the task rendered by that constitution. For a better understanding it is essential to get aware of and to reinforce the constitutional role which the Grundgesetz awarded to the Bundesverfassungsgericht and the Bundesbank and the German citizenship placing their confidence in these institutions. Es soll konkret das Verhältnis zur Nichtbeistandsklausel No-Bail-out Klausel Art 125 AEUVertrag, den Europäischen Fiskalpakt / dem ESFS, ESM / dem OMT-Programm der EZB, möglichen Entwicklung des EU zur Haftungs- und Transferunion mit einem zukünftigen Haftungsautomatismus der Mitglieder, der Unterscheidung von gemeinsamer Währungspolitik und nationaler Wirtschaftspolitik, der drohenden Vergemeinschaftung von Staatsschulden einzelner EU-Länder, die Budgethoheit des nationalen Parlaments als freie Entscheidung über die Verwendung des nationalen Haushaltes untersucht werden. Mit allen diesen Fragen mussten sich das höchste Deutsche und Europäische Gericht in jüngster Vergangenheit intensiv beschäftigen.
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Kolodko, G. W., and M. Postula. "Determinants and implications of the Eurozone enlargement." Voprosy Ekonomiki, no. 7 (July 28, 2018): 45–64. http://dx.doi.org/10.32609/0042-8736-2018-7-45-64.
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Aside from the United Kingdom, which is withdrawing from the European Union, only Denmark has the option of staying outside the single European currency area. All other member states which have not adopted euro as their currency have the right and obligations to do so under the Treaty of Accession. The condition to join the Eurozone is to meet all five nominal Maastricht convergence criteria and to ensure compliance of national legislation with acquis communautaire, or the EU legal order. What poses special difficulties to candidate countries is the fiscal criterion relating to the maximum allowed budget deficit. If it’s not met, the European Commission launches the Excessive Deficit Procedure, EDP. Currently, this procedure is in place for France, Spain and the United Kingdom. In 2015, EDP for Poland was lifted, but there is no certainty it won’t be imposed again at the end of the decade due to the risk of exceeding once more the threshold of public sector deficit, which stands at 3 percent GDP. It is to be expected that in the 2020s the European Monetary Union will be joined by all the countries that are still using their national currencies, including Denmark, and that the EU will be extended to include new member states, enlarging the euro area, too. Although the issue is not absolutely certain, it needs to be assumed that euro will overcome the present difficulties and come out stronger, though the economically unjustified euroskepticism of some countries, especially Poland, is not helping.
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Chun, Taeksoo. "The limitation of policies regarding Sportstoto: Focusing on illegal sports betting and government sports budget issues." Korean Journal of Sport Science 31, no. 1 (March 31, 2020): 100–114. http://dx.doi.org/10.24985/kjss.2020.31.1.100.
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Purpose This study focused on analyzing the policies regarding operation of Sportstoto, a sole legal sports betting business in Korea. Methods In order to fulfill the research goal, literature review on reports, articles, and statistics from Ministry of Culture, Sports and Tourism, National Gambling Control Commission, Korean Sports Promotion Foundation, and other precedent studies was conducted. Results Currently Sportstoto fails to maintain its competitiveness due to inconvenient betting process, lack of product diversification, and low payout rate, resulting in the growth of illegal sports gambling. In addition, governmental aid for sports budget has diminished consistently, while at the same time the revenue cap regulation for betting industry restrains the development of Sportstoto and disturbs the gathering of sports budget, which appears to be a policy contradiction. Moreover, there are no specific guidelines for the expenditure of Sportstoto revenue which function as a budget. Conclusions This study suggests three ideas to overcome these problems. First is the alleviation of regulation in non-monetary area so that Sportstoto can improve its competitiveness against illegal sports gambling. Second is the clear establishment of policy regarding sports budget, either to foster Sportstoto as a fundraising business, or to enlarge governmental allocation for the budget. Lastly, institutional management must be provided for the expenditure of Sportstoto revenue as to follow government’s sports policies.
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Baltgailis, Jurijs, Anastasiia Simakhova, and Stanislav Buka. "Digital Currencies and Fintech Innovation Technologies for Economic Growth." Marketing and Management of Innovations 14, no. 3 (2023): 202–14. http://dx.doi.org/10.21272/mmi.2023.3-18.
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The transition of the global economy to digital currencies is inevitable. Today’s monetary methods of regulation do not provide a stable and inclusive economy, and central banks will be forced to move on to the implementation of the state digital currency in real practice, which will ultimately allow introducing total control over the use of customer assets and strict business regulation,especially in the field of the shadow economy and tax crimes. The main factors for the transition to digital currencies aretechnological progress, an increase in online transactions, independence from national currencies, and low commissions. Thepurpose of the article is to assess the potential for economic growth of digital currencies and FinTech innovation technologies inthe context of growing government debts. The scientific novelty of the obtained results lies in the construction of a regression model of GDP growth dependence on inflation, government debt and the long-term interest rate. The regression analysis was conducted by building a linear multiple model for selected developed European countries based on statistical data from the European Central Bank, the European Commission, and other Internet resources. The equation of dependence of the GDP of European countries on the selected factors obtained as a result of regression modelling can be practically used to forecast future GDP indicators. The model showed that inflation growth has a negative impact on GDP growth and confirmed that further economic growth is possible with the introduction of digital currency, which will help to reduce the inflationary burden. The issuance of digital currency will be strictly controlled, which will contribute to the formation of an inclusive economy by attracting people who do not have bank accounts to business, and the shadow economy will be reduced. This will create opportunities for real economic growth. It is predicted that the introduction of digital currencies could lead to a faster, moreconvenient, cheaper and more private payment system, which is important for citizens and businesses.
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Awujola, Abayomi, Anna Dyaji Baba Iyakwar, and Ropheka Emerson Bot. "Examination Of The Relationship Between Oil Price Shock And Macroeconomic Variables In Nigeria." SocioEconomic Challenges 4, no. 1 (2020): 102–10. http://dx.doi.org/10.21272/sec.4(1).102-110.2020.
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The price of oil is one of the important macroeconomic indicators because of the extreme importance of supplying oil to different countries of the world to meet their energy needs. As Nigeria’s economy depends on oil prices, the country remains vulnerable to fluctuations in world oil prices. During periods of rising oil prices caused by macroeconomic and political conditions in the international market, the state usually has a positive trade balance, there is an increase in foreign exchange reserves and the revaluation of the national currency. The purpose of the article is to evaluate the relationship between an oil price change and Nigeria’s economic growth rate using regression analysis. The source of statistical information is data from the National Bureau of Statistics, the Nigerian National Petroleum Corporation, and the Nigerian Energy Commission. By checking the time series for steady-state using the advanced Dickie-Fuller test, a regression equation is constructed where the dependent variable is represented as the price of oil and the independent variables are key macroeconomic indicators. The econometric model constructed is adequate because the determination coefficient and the adjusted determination coefficient are 0.97 and 0.96 respectively. The Durbin-Watson statistic in the model is 1.98, meaning the model is reliable. Oil price fluctuations have been found to be related to investment, economic growth, and exchange rates, as well as to inflation. The paper argues that the use of the shock of oil prices should be supported, as it promotes economic growth and is not inflationary. Therefore, the authors believe that the government, which is the main beneficiary of cash, should also implement strategies that counterbalance the propensity for the economic downturn. Based on the analysis, a set of priority measures was proposed: enhancing financial liberalization, combating corruption, transparency of government activities, creating an open currency market, and developing non-inflationary monetary and fiscal strategies. Keywords: oil price, macroeconomic variables, energy needs, Organization of Petroleum Exporting Countries, Dickie-Fuller Extended Test, Petroleum Exporters.
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Boolaky, Pran Krishansing. "Corporate governance in the financial services sector of small island economies: A case study of Mauritius." Corporate Ownership and Control 4, no. 3 (2007): 266–78. http://dx.doi.org/10.22495/cocv4i3c2p4.
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This study investigates the practices of corporate governance in the financial services sector of small island economies with special reference to banks and insurance companies in Mauritius with a view to assess the level of compliance. The financial sector is today an important economic pillar on which the government is relying given the imminent recession in the sugar industry. In this respect financial institutions play a key role because they are the core set of the financial sector. It is therefore important for people to have confidence in both banks and insurance companies of their country. This is possible by ensuring compliance with good governance. In Mauritius, the Central Bank has issued its guidelines on good corporate governance for banks and this guide is made in line with the Corporate Governance Code issued by the National Committee on Corporate Governance. Banks are also required to comply with the codes as per the Banking Act 2004 and the Financial Reporting Act 2004. In a similar vein insurance companies should comply with the National Code on Corporate Governance and relevant laws related to good governance of insurance business, such as the Insurance Act 2005, the Financial Services Commission guidelines on Corporate Governance and the Financial Services Development Act 2002. In addition insurance companies should also comply with the Companies Act 2001 and the Financial Reporting Act 2004. This paper initially reports on the practice of corporate governance in the financial services sector of small island economies by drawing data from the Financial Sector Assessment Programme of the International Monetary Fund. A content analysis of the annual reports of companies in the sector is used to assess the level of compliance to corporate governance code in Mauritius and concludes that compliance rate is above 70% as regards board’s composition, audit committee, disclosure of policies and practices. This study reports that there are few cases of noncompliance with the National Code but good governance is necessary in the financial services sector to inspire stakeholders confidence.
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Carbonell, Nicolas, Dr Théophile Bindeouè Nassè, and Dr Denis Akouwerabou. "AFRICAN ECONOMIC PARADOX: INDUSTRIALIZATION CREATING JOBS AND ADDED VALUE OR ACTIVE PARTICIPATION IN GLOBAL VALUE CHAINS: WHAT SOLUTIONS TO DEVELOP FOR THE LESS ADVANCED AND LANDLOCKED COUNTRIES LIKE BURKINA FASO?" International Journal of Advanced Economics 2, no. 1 (June 22, 2020): 1–20. http://dx.doi.org/10.51594/ijae.v2i1.127.
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The United Nations Economic Commission for Africa (2016) calls for resources for the implementation of the Action Plan for Accelerated Industrial Development in Africa, and states that: “Industrialization is essential for African countries as a means of increasing income, creating jobs, developing value-added activities and diversifying economies”. The United Nations Development Program (UNDP), the African Development Bank (AFDB), and the Organization for Cooperation and Economics Development (OCED, 2014, p. 16) explain the benefits to African countries’ participation in Global Value Chains (GVC) to industrialize without having to implement all stages of the chain. They add that the acquisition of new production capacities can allow countries and companies to move upmarket, which is to say to increase their share of value added in a GVC. But the opposite is the case, at least in some countries like Burkina Faso. We are witnessing a “specialization of primary products (cotton and non-monetary gold), to the detriment of manufacturing industry with high potential for multiplier effects on local economies” National Plan for Economic and Social Development of Burkina Faso (PNDES, 2017, p.12). Cusolito and al. (2016) mention that overcoming a series of obstacles (such as bad policies and governance, insufficient technology and skills) is the way to actively participate in GVCs. Yet OPEN it is these same obstacles that have always prevented the industrialization of Sub-Saharan Africa (excluding South Africa). The results show that the Global Value Chains (GVC) contribute to the creation of added value in developing countries what has an effect on industrialization
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Kostiuk, Yaroslava, Eva Kalinová, and Jiří Kučera. "Impact of Globalization and Internationalization Processes on Added Value in EU Countries." SHS Web of Conferences 92 (2021): 09008. http://dx.doi.org/10.1051/shsconf/20219209008.
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Research Background: The paper focuses on the specification of categories of the globalization and internationalization process in terms of origin, development, definition and content. Using European Commission statistics for the period 2013-2017, the EU28 countries are divided into countries that started the EU (Germany, France, Italy, Belgium, the Netherlands, Luxembourg) and countries that joined the EU before 2000 (Denmark, Norway, Finland, Portugal, Austria, Greece, Spain, Sweden, Great Britain), and other countries of the so-called former Eastern bloc (Czech Republic, Slovakia, Hungary, Poland). For such defined EU countries, a different level of involvement in the globalizing common economy of the European Union as well as a different level of involvement in foreign markets, depending on the level of national economies, can be expected. Purpose of the Article: A test set of 338,788 companies from across the EU was used to analyse value added associated with each indicator (value added at factor cost, gross (average) value added per person employed, number of workers, enterprise size classes and selected industries, namely manufacturing, construction, engineering, transportation and logistics). The membership of the countries in the European Monetary Union was also taken into account. Methods: Mathematical and statistical methods of correlation analysis and paired T-test were used for value added analysis. Findings & Value Added: The outputs of the analysis indicated a high level of statistical conclusive evidence in terms of the impact of value added on each enterprise size class across the sectors concerned as well as on the structure of production and the number of active workers.
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Moździerz, Anna. "Macroeconomic stability as the condition for Bulgaria to join the euro area." Equilibrium 14, no. 2 (June 30, 2019): 295–315. http://dx.doi.org/10.24136/eq.2019.014.
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Research background: The subject of research is the macroeconomic situation of Bulgaria in the context of the country's preparations for joining the euro area. In 2018, the Bulgarian government approved a plan of preparations covering the period until the end of June 2019, which assumes that the country will join the ERM II mechanism in July 2019, and the euro area on 1 January 2022. Bulgaria meets four nominal convergence criteria regarding inflation, long-term interest rate, budget deficit and public debt. The national currency is pegged to the euro under the currency board arrangement. Despite this, the implementation of this optimistic scenario may be difficult because since the 2007 crisis, the European institutions pay more attention to macroeconomic stability and the sustainability of convergence.
Purpose of the article: The aim of the article is to identify the factors destabilising macroeconomic equilibrium in Bulgaria, which are a potential obstacle to the adoption of the euro by Bulgaria on schedule.
Methods: The research was based on the changes in selected macroeconomic indicators, as well as on the method used by the European Commission to detect macroeconomic imbalances. The observation and analysis covered the 2007–2018 period.
Findings & Value added: The research results indicate that the low level of socio-economic convergence of Bulgaria and macroeconomic imbalances may delay its membership in the monetary union. Therefore, while respecting the country's aspirations to join the euro area, one cannot ignore the risk of another destabilisation of the euro area.
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BALAKIN, Robert. "State regulation of critical infrastructure in Ukraine during martial law." Fìnansi Ukraïni 2022, no. 7 (September 16, 2022): 70–94. http://dx.doi.org/10.33763/finukr2022.07.070.
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Introduction. The conceptual foundations of state regulation of critical infrastructure of Ukraine are laid down in the Concept of creating a state system of critical infrastructure protection (2017). The legal basis for regulating this area is established by the Law of Ukraine “On Critical Infrastructure” (2021). Problem Statement. Russia's armed aggression has led to a major destruction of Ukraine's national infrastructure. Approaches to state regulation of its facilities have changed, the real possibilities of their financing at the expense of the state budget have narrowed, and the structure of state borrowings has been transformed. Purpose. To determine the features of state regulation of critical infrastructure of Ukraine in martial law, the main areas of financial support for its postwar recovery, taking into account the experience of member states of the European Union. Methods. Modern approaches to the analysis of critical infrastructure issues of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, specialized agencies of the European Commission are used. Methods of theoretical generalization, retrospective analysis, synthesis, grouping, description, comparison are used. Results. Approaches to state regulation of critical infrastructure facilities in wartime, real possibilities of their financing at the expense of the state budget are revealed. The improvement of the legislation applied in the EU aimed at increasing the sustainability of critical enterprises is analyzed. The main directions of financial support for the restoration and development of critical infrastructure of Ukraine in the postwar period are identified, taking into account the economic and fiscal policy of the EU. Conclusions. Increasing the role of external official creditors in the structure of government borrowing provides the dynamics of financing the urgent needs of the functioning of national infrastructure and addressing issues of social protection. At the same time grants of direct budget support alone cannot cover the state budget deficit in the medium and long term. Solving the problems of financing the restoration of critical infrastructure is possible by providing partner countries with guarantees to their companies to invest in Ukraine under the conditions of effective anti-crisis management.
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Cebotari, Livia, and Ada Paierele. "Economic Effects of rising Energy Prices." Proceedings of the International Conference on Business Excellence 18, no. 1 (June 1, 2024): 295–302. http://dx.doi.org/10.2478/picbe-2024-0025.
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Abstract Energy is an indispensable resource for everyday activities, both for the population and for economic operators. Being used for heating, cooling, and lighting buildings, driving, and putting into operation various machines, energy is essential for the entire economy. Since energy is a central element of human activity and energy prices are the quasi-permanent component in most costs, its price can be called "the most important price in the economy". The topic of the research is a highly relevant issue for both financial and energy sectors. The research aims to identify and analyse the economic effects of energy price increases. Among the proposed objectives are: to gain in-depth knowledge of the scientific background of the subject under investigation; to determine the role of energy in a country's economy; and to determine the economic and social consequences of energy crises. Using the qualitative research method, this article is the result of an integrative consultation of a large, rich, and recent scientific literature. To achieve the established objectives, official documents of the European Commission and the United Nations, reports of the International Monetary Fund, the European Central Bank, and the National Bank of Romania, academic articles and studies elaborated by various prestigious think tanks were studied. The first part of the paper briefly outlines the importance of energy for a country's economy. The second part reviews the scientific literature, thus illustrating the distinct opinions of various experts in the field. The third part presents the economic effects of energy crises and analyses the impact of rising energy prices on inflation and economic activity from a theoretical perspective.
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Repin, L. V., R. R. Akhmatdinov, A. M. Biblin, and V. S. Repin. "Development of the Automated System for Radiation Risk Analysis: goals, tasks and the vision for progress." Radiatsionnaya Gygiena = Radiation Hygiene 16, no. 4 (December 19, 2023): 22–31. http://dx.doi.org/10.21514/1998-426x-2023-16-4-22-31.
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This paper describes the preconditions of creation and the process of development of the Automated System for Radiation Risk Analysis. Three main objectives for the development of an automated system for radiation risk analysis were identified: creation of a tool for the development and scientific justification of hygienic standards and other protective quantities in the field of ionizing radiation application; practical implementation of the principles of justification and optimization in radiation protection on the basis of monetary assessment of radiation health risks; and comparative analysis of risks of different nature on the basis of comparable indicators of population health. The Russian software platform 1C: Enterprise was chosen as the development platform for the Automatized System for Radiation Risk Analysis. The choice of this platform was related to simplification of integration with other computer systems being developed at the Research Institute of Radiation Hygiene after Prof. P.V. Ramzaev, such as the Automated System for Radiation Exposure Control of Rospotrebnadzor. Before the practical development of the system in accordance with the terms of reference, the main parameters in view of its interaction with the user were determined: arrangement of the user interface elements, main input parameters, primary calculated indicators and output calculation results, etc. The estimation of annual increase in the probability of radiation-induced malignant neoplasms depending on the organ dose, sex and age of the exposed person and other parameters according to the models of the UN Scientific Committee on the Effects of Atomic Radiation, the U.S. Environmental Protection Agency and Publications 103 and 152 of the International Commission on Radiological Protection was implemented in the system. The capabilities of the system include calculation of a number of modern lifetime radiation risk indicators used for risk characterization in various scientific publications over the last 35 years, including calculation of population risks based on national medical and demographic data of several dozen states published over the last 50 years.
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Mirović, Vera, Branimir Kalaš, Nada Milenković, Jelena Andrašić, and Miloš Đaković. "Modelling Profitability Determinants in the Banking Sector: The Case of the Eurozone." Mathematics 12, no. 6 (March 18, 2024): 897. http://dx.doi.org/10.3390/math12060897.
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The aim of this study is to analyze which factors affect the profitability of banks in the eurozone and to make recommendations for supporting them to achieve higher levels of profitability in particular eurozone countries. The banks operating in the eurozone are specific that they are under one monetary policy. The main purpose of the banks’ profitability analysis is to identify main bank-specific and macroeconomic determinants and help bank management to more fully comprehend their importance of bank-specific determinants and macroeconomic determinants’ influence when measuring and evaluating bank profitability. For the purpose of this research, we analyze the impact of bank-specific determinants (NPL, CIR, NIM, NIF and NIT) and macroeconomic determinants (GDP, INF, UNM and DEBT) on bank profitability in the eurozone for the period of 2015–2020 using a random effects model, fixed effects model, and the general method of moments (GMM). This empirical research analyzed quarterly data series from Eurostat for eighteen countries in the eurozone. We came to the results that on the eurozone-level NPL, the cost-to-income ratio has a negative impact on the banks’ profitability, while the net interest income to the operating income, the net income for trading assets to the operating income and the net fee and commission income to the operating income have a positive impact on the banks’ profitability. Considering the macroeconomic variables, we found a positive impact only in the case of GDP, while the inflation rate, unemployment rate and gross government debt have shown a negative impact on the banks’ profitability. The main contribution of this study implies different panel techniques with two uncommonly used macroeconomic variables such as the unemployment rate and debt ratio. The results on the country level differ from country to country and these findings can give a lead to policy makers on the national level on how to enhance the banks’ profitability levels.
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Berezner, V. V. "BRIBERY AS A WAY OF SPECIAL INCITEMENT TO TRAFFICKING." Actual problems of native jurisprudence, no. 4 (August 30, 2019): 190–96. http://dx.doi.org/10.15421/391941.
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The article analyzes the novelties proposed by the domestic legislator concerning ways of committing such an offense as human trafficking. It is concluded that there are certain contradictions in the design provided for in Part 1 of Art. 149 of the Criminal Code of Ukraine, stipulated by the mechanical combination of national and international representations about the essence of this crime. In particular, it is noted that, unlike national criminal law, international legal acts consider this concept as a civil law category, defining it in accordance with the content of the contract of sale, and position the trafficking of human beings as a combination of mandatory elements, which includes the act, the ways of its commission and the purpose of exploitation of a person. Therefore, on the one hand, the transfer- receipt of a person, including for monetary compensation, cannot be considered as trafficking in persons, if they are not carried out in the indicated ways and do not pursue the purpose of exploitation, and on the other - preservation in the disposition of Part 1 of Art. 149 of the Criminal Code of Ukraine, trafficking in human beings, as an independent form of the objective aspect of thiscrime, leads to the double criminalization of the transfer-receipt of a person, since any sale or purchase without this is impossible. In this regard, the disposition of Part 1 of Art. 149 to be described as descriptive of the definition of trafficking in persons as the recruitment, transfer, harboring, transfer or receipt of a person for the purpose of exploitation that occurs through the use of violence which is not dangerous to the life or health of the victim or his relatives or the threat of the use of such violence, deception, blackmail, material or other dependence of the victim, his vulnerable state, or the bribery of a third person who controls the victim. The criminal nature of the bribing of a third person who controls the victim is determined for obtaining an agreement on its exploitation. It is argued that the bribery of a third person is connected with the transfer of a person, in particular, with its component, such as providing another person with control over the victim and is not a way of committing this act, but a kind of special incitement to it. There is justification for recognizing the subject of the bribe of a third person who controls the victim, the perpetrator of the crime provided for in Part 1 of Art. 149 of the Criminal Code of Ukraine.
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Lia Dzebisauri, Lia Dzebisauri. "Implementation of 2008 System of National Accounts (2008 SNA) In Georgia – Main Changes And Challenges." Economics 105, no. 09-10 (November 24, 2022): 47–64. http://dx.doi.org/10.36962/ecs105/9-10/2022-47.
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In the process of active globalization, an important task of the economic agenda of any country is to ensure mutual comparability of statistical indicators. This can be achieved through the implementation of internationally approved methodologies and modern standards. The System of National Accounts is at the top of the economic pyramid. The implementation of SNA 2008 was envisaged by the Association Agreement with the European Union. In 2008, the United Nations, European Commission, International Monetary Fund, World Bank and the Organization for Economic Co-operation and Development jointly released The System of National Accounts, 2008 (2008 SNA). This update better reflects the changing economic landscape and the advances in methodological research, data sources and compilation methods and provides clarification on a number of issues not clearly stated in the 1993 SNA. Timely, relevant and comprehensive national account information is a significant intellectual asset for any country, and serves important functions. Like any asset the national accounts depreciate with time. Therefore, periodic new investments are crucial, to ensure that they continue to provide high quality services to their users. Implementing 2008 SNA improved the relevance of a country’s national accounts information. In the new version of SNA, changes were introduced in various directions: updates in calculation methods, improvement of data sources, introduction of an international approach to the coverage of the economy and other methodological changes, which include the introduction of new classifications, the use of the accrual method for taxes, a change in the base period (instead of 2010, the base period 2015 is used instead of the period) and many others. Updated calculation methods were introduced in the following direction: Changes in the Financial Intermediation Services Indirectly Measured (FISIM); Improving the calculation of Imputed Rent of Own Occupied Dwellings; Capitalization of costs related to Research and Development (R&D) and others. The factor of improving the data source should also be emphasized. In this regard, it is worth noting: updating the structure of intermediate consumption on the basis of a special surveys; Special survey conducted in various sectors of economy, such as agriculture, construction, hotels and restaurants and ect. Other methodological changes include also the use of new classifications, change of the base year (2015 instead of 2010). During the implementation of new standards and methodologies, many countries face a number of challenges. In many ways, national accounts data represent an important part of a country's economic history. Of course, it is more acceptable for users to have a continuous and consistent time series, which simplifies its use in economic modeling. However, as already mentioned, this process is associated with certain difficulties, among which access to historical rows of updated data sources is noteworthy. In such cases, they need to develop models that put new concepts and methodologies into historical perspective. In order to harmonize with the indicators of the previous period, Georgia has recalculated the historical data series since 2010. The introduction of the new methodology and the above-mentioned updates caused changes in the total volume of GDP. During the implementation of new methodologies and standards, and therefore the recalculation of historical dynamic series, another important challenge is to inform users about all changes and how each change affected the main macroeconomic indicators. At the same time, users should understand that the change of methodologies and their implementation in practice is an ongoing process by which the country strives to comply with international standards. This is vitally necessary to ensure continuity of the country's integration into the world economic system and future sustainable development. Keywords: The System of National Accounts 2008, Financial Intermediate Service Indirectly Measured (FISIM), Non-observed economy, Research and Development (R&D).
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Repousis, Spyridon. "Is there banks stocks’ manipulation around announcement of national elections and how can we detect and recover ill gotten assets?" Journal of Money Laundering Control 17, no. 4 (October 7, 2014): 402–15. http://dx.doi.org/10.1108/jmlc-07-2013-0026.
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Purpose – The purpose of this paper is to examine the influence of major non-economic events, such as the announcement of Greek national parliamentary elections during the period 2000-2009, and search for stock manipulation and methods to detect and recover ill gotten assets. The Financial Sector in Greece is one of the most important and fast growing sectors during recent years and accounts to about 16.17-17.74 per cent of gross domestic product. The ten largest Greek banks listed in the Athens Stock Exchange, accounted to 38.34 per cent of the whole capitalisation of the Athens Stock Exchange during year end 2009. Design/methodology/approach – By using event study methodology and Market Model and analyzing data of all Greek bank stocks prices listed in Athens Stock Exchange, before and after the announcement of four Greek national parliamentary elections during period 2000-2009, we find interesting results about stock market manipulation. Findings – Using daily data from the Athens Stock Exchange, the results of this paper claim that the four Greek national parliamentary elections during the period 2000-2009, had no statistically significant effect on the Greek banks stocks. The results show that Cumulative Average Abnormal Returns (CAARs) were slightly positive or negative for Greek banks’ stocks, but not statistically significant in 5 and 10 per cent confidence levels. Results show no manipulation effect in banks’ stocks even if single-party governments in Greece caused elections early, sudden or even opportunistic timing, having an incentive to attempt to manipulate stocks to increase their chances of re-election. Practical implications – Results show that CAARs were slightly positive or negative for Greek banks stocks, but not statistically significant in 5 and 10 per cent confidence levels, but when illicit funds or assets have been acquired from stock manipulation, as small as can be, then one fact remains constant. Proceeds from illicit activities must be disguised in some way to avoid being discovered and then being recovered. Especially, during current the financial crisis, debt crisis and the extraordinary liquidity support measures taken by the European Central Bank (ECB), International Monetary Fund (IMF) and European Commission to support Greek economy, using methods to detect and recover ill gotten assets are extremely important. Indirect methods such as net worth analysis, bank deposit analysis, expenditure method or sources and application of funds analysis, to detect ill gotten assets, and then when ill gotten income and assets from bank stock manipulation are found, a restraining order or court order will help to recovery assets by freezing and finally confiscating them by two types of forfeiture – criminal and civil forfeitures. Establishing a code of conduct informing employees of the risks and consequences of insider trading, creating a culture of honesty and high ethics and implementing Controlled Foreign Corporation legislation to cope with off-shore companies trading, can help to recover ill gotten assets. Originality/value – The paper examines if there is banks stocks manipulation around announcement of Greek national parliamentary elections during the period 2000-2009; suggesting methods to detect and recover ill gotten assets and improving the current position of the Greek economy. Findings offer important positive implications for investors, political analysts and society as a whole, as Greek banks stocks show that they are not subject to political risk and manipulation and that there are methods to detect and recover ill gotten assets. A stable bank sector is prerequisite for economy growth.
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Danylyuk, А. D. "ECONOMIC VIOLENCE IN THE FAMILY: YPES AND REASONS FOR USE." Constitutional State, no. 41 (March 17, 2021): 76–82. http://dx.doi.org/10.18524/2411-2054.2021.41.225586.
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Based on national legislation on domestic violence, the article examines the concept of domestic violence. A particular attention is paid to economic violence in the family. Any form of violence is associated with the distribution of power between partners and some certain imbalance between them. In a couple, the partner who is emotionally and/or physically stronger and more influential uses violence. Economic violence is associated with the deprivation or restriction of the right to use economic resources, in which one of the partners (more often a woman) feels a threat towards security and emotional comfort, as she is in complete economic dependence on the tyrant partner. Economic violence can manifest itself in the deprivation or restriction of the right to use property, money; imposition of property obligations; transfer of monetary obligations to the victim; the prohibition of employment, which deprives the victim of the possibility of self-realization in the future. These actions may entail mental suffering and a decrease in the mental stability of the victim of violence, which indicates psychological violence and so on. The commission of these actions is violence in the event that the partner whom they were applied to feels psychological suffering, which can lead to a health disorder, emotional dependence or a deterioration in his/her of life’s quality. The reasons for economic violence are the unwillingness of partners to discuss complex issues related to the management of economic resources before starting a relationship; unwillingness of one of the parties to take responsibility for their lives, completely falling under the dependence of the other partner, including in financial matters; violation of the personal boundaries of another partner, the desire to manipulate him/ her and, as a consequence, the dependence of one partner on the other and so on. The criteria for distinguishing between criminally punishable domestic violence and domestic violence as an administrative offense are signs of systematicity and social danger. It is proposed to reveal the content of the forms of domestic violence enshrined in Art. 126–1 of the Criminal Code of Ukraine, taking into account the content of the objective side of other articles of Section II, IV of the Special Part of the Criminal Code of Ukraine; enforce in the footnote to Art. 126–1 of the Criminal Code definition of the concept of “systematic”.
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Liu, Guangyou, and Siyu Liu. "Corruption crime and punishment: evidence from China’s state corruption audits." Journal of Financial Crime 24, no. 4 (October 2, 2017): 601–19. http://dx.doi.org/10.1108/jfc-06-2016-0044.
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Purpose This paper aims to answer the following two research questions: Do corruption cases present different features before and since the new administration in China? How are criminal penalties affected by these corruption features? Design/methodology/approach The investigation is based on the online disclosure of 269 state corruption audits and their consequences, which have been made public by China’s National Audit Office since 2011. By manual coding, these official reports were analyzed, and an appropriate-sized sample of corruption cases was chosen. The authors then adopted Welch’s t-test and regression model methods to test the research hypotheses relevant to the two research questions. Findings The authors find that larger embezzlement or bribery amounts and more organizational corruption cases have been detected and punished since the anti-corruption campaign was launched by the new administration. They also conclude that significantly tougher criminal penalties were given to corruption cases involving large monetary amounts, that bribery cases were more harshly punished compared to other occupational crimes and that individual perpetrators received tougher criminal penalties than organizational criminals. In addition, the authors observe a trend that criminal penalties for corruption have been increasingly harsher in recent years. Research limitations/implications The limitations of this study are quite clear as the Chinese corruption cases in this sample only include state corruption audit cases and does not refer to high-profile corruption cases investigated by the Central Commission of Discipline Inspection. However, this study suggests that state corruption audit results are a good research sample, which can be used to extend empirical tests to archival data acquired from state audit practices and can encourage more studies on public sector auditing and occupational financial crime. Practical implications State corruption audits can be an effective approach to successful anti-corruption campaigns, and the conclusions can be useful to policy makers and legislators in China and other developing countries. Originality/value This paper bridges some gaps in the existing financial crime literature. First, this study on corruption features is located within the context of a political administrative change; second, the state audit is highlighted as a supervising agency in the anti-corruption campaign; and third, the authors’ contribution adds to the empirical testing of data sets of state corruption audits within the existing financial crime literature.
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Adre, Cullen, Youssoufou Ouedraogo, Christopher David Evans, Amelia Keaton, and Marion Kainer. "Determining Core Element Achievement in Long-Term Care Facilities Across Tennessee." Infection Control & Hospital Epidemiology 41, S1 (October 2020): s89. http://dx.doi.org/10.1017/ice.2020.584.
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Background: In 2017, a new antimicrobial stewardship standard was established by the Joint Commission that requires long-term care facilities (LTCFs) to have an antimicrobial stewardship program (ASP) based on current scientific literature. The Tennessee Department of Health (TDH) team sought to ascertain the current state of ASPs across Tennessee and to assist programs with implementation strategies. Utilizing a Centers for Medicaid and Medicare Services’ Civil Monetary Penalties grant, the TDH purchased copies of the National Quality Partners Playbook for Antibiotic Stewardship in Post-Acute and Long-Term Care to provide to LTCFs as incentive to complete a survey that would evaluate their current adoption of core elements. Methods: A self-administered questionnaire on ASP practices was developed and distributed to LCTFs. This survey expanded upon questions from the NHSN 2018 LTCF annual survey. These questions pertained to actionable items facilities are taking to achieve core elements. Achievement of the CDC’s 7 core elements of ASPs was determined based upon a combination of 1 or more responses to the survey questions. The percentage of LTCFs achieving each ASP core element at the regional and statewide level was determined. We also calculated the percentage of LTCFs that achieved all 7 elements versus 5 or more core elements. The analyses and visualizations were performed using SAS 9.4 and Tableau software. Results: Currently, 88 of 316 licensed LTCF facilities in Tennessee have participated in the survey. All regions were represented by EMS region. Based on the results of our survey, 100% of participating facilities have achieved at least 5 core elements, and 78% of participating facilities have achieved all 7 core elements. The core element with the lowest achievement was Accountability at 89%, and reporting and action had the highest achievement (100%). Conclusions: Early results suggest that LTCFs across Tennessee have active ASPs with strong core element achievement. However, we received responses from only 27% of licensed LTCFs. Minimal data are available regarding the current state of LTCF ASPs in Tennessee, and data will continue to be collected and analyzed. Participation may be limited to those already actively engaged in public health efforts, including antimicrobial stewardship. LTCFs that have participated in the initial evaluation will be surveyed at 6 months and 12 months after receipt of playbooks to evaluate their ASP progression and NQP Playbook utilization.Funding: NoneDisclosures: None
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Kokhan, O. I. "Fighting corruption in local self-government bodies: legal prerequisites and ways to overcome." Uzhhorod National University Herald. Series: Law 2, no. 82 (May 23, 2024): 182–86. http://dx.doi.org/10.24144/2307-3322.2024.82.2.29.
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The scientific article explores the issue of corruption in the local self-government bodies of Ukraine and provides suggestions for its prevention and eradication. The article emphasizes examining the reasons and mechanisms for the formation of corrupt practices at the local level, pointing to insufficient transparency and openness in governmental processes, instability in governance structures, and political influences as key factors contributing to the spread of corruption. One of the main recommendations is the necessity of ensuring consistency and stability in legal regulation. It is believed that laws and regulatory acts should be appropriately updated and adapted to changes in society, as well as accessible and understandable to all citizens, which is an important factor in preventing corruption. The active participation of the public in monitoring the activities of governmental structures is also recognized as an effective mechanism for combating corruption. Civil society organizations, activists, and journalists can act as important parties tracking the activities of authorities and contributing to the detection of corrupt practices. Furthermore, the implementation of electronic governance and reporting can significantly enhance transparency and openness in the activities of local self-government bodies and contribute to the detection and prevention of corrupt practices. An important aspect of combating corruption is the role of anti-corruption agencies and international partners. For example, the National Agency on Corruption Prevention (NACP) in Ukraine oversees the financial activities of officials, including representatives of local self-government bodies. International organizations and programs, such as the European Commission, the International Monetary Fund (IMF), and the World Bank, provide financial and technical support for the implementation of anti-corruption measures at the local level. Achieving progress in combating corruption in local self-government bodies requires a systematic approach to improving legal regulation and active citizen participation. Ensuring accessibility and transparency of information about the activities of local authorities, implementing mechanisms of accountability, and increasing the level of legal literacy among citizens are key factors in successfully combating corruption. Therefore, by analyzing the political, legal, and social prerequisites of corruption in local self-government bodies, the article emphasizes the necessity of comprehensive measures to improve legal regulation, engage civil society, and involve international partners in the fight against this negative phenomenon. Only through joint efforts can significant reduction of corruption levels be achieved and improvement of democratic governance at the local level in Ukraine be ensured.
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Khramtsov, Oleksandr. "Violent abuse of power or official authorities by a law enforcement officer (comparative analysis and problems of legislation improvement)." 33, no. 33 (June 28, 2022): 107–18. http://dx.doi.org/10.26565/2075-1834-2022-33-12.
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Introduction. The article gives a criminal-legal characterization of the violent abuse of power or official authorities by a law enforcement officer. The importance of establishing criminal law signs of physical or mental violence in each case of such a criminal offense is indicated. It is concluded that the changes that were made to Article 365 of the Criminal Code of Ukraine cannot be considered successful. It is pointed out that the national criminal legislation cannot develop effectively if foreign experience in combating crime by criminal law means is not taken into account. The use of the comparative method in legal research is an important mean of improving the theory and practice of applying any legislation, including criminal law. Its only purpose should be to eliminate flaws in criminal legislation. Summary of the main research results. The paper provides a comparative legal analysis of national and foreign legislation on criminal responsibility for violent abuse of power and official authority. On this basis, it was concluded that it is necessary to introduce foreign experience in criminal law counteraction to violent abuse of power or official authority. According to the author, the provisions that should be introduced into national legislation are as follows: the subject of abuse of power or official authority should be any official, and not just a law enforcement officer; as a qualified element of this criminal offense, the commission of an excess with the use of physical violence or the threat of using such violence should be added; recognition of the inexpediency of indicating the infliction of bodily harm directly by excess of power or official authority; in the event of death, serious bodily injury or suicide of the victim, the actions of the perpetrator must be qualified under the relevant part of Art. 365 of the Criminal Code of Ukraine on the grounds of the onset of grave consequences; the motives and purpose of committing such a criminal offense should not affect the qualification, but should be taken into account when imposing criminal punishment on the perpetrators. The article analyzes the rulings of the Judicial Chamber for Criminal Cases of the Supreme Court of Ukraine, which determine the ratio of parts 1 and 2 of Article 365 of the Criminal Code of Ukraine on the specifics of qualifying forcible abuse of power or official authority and the need to establish the monetary equivalent of non-property damage in cases of such a criminal offense. The author proposes to change the approaches of judicial practice in the latter case. In preparing the article, general scientific and special methods were used. Thus, dogmatic and formal-legal methods were used in the analysis of the criminal law norm, which provides for criminal responsibility for violent abuse of power or official authority. The comparative method was applied when comparing the criminal legislation of Ukraine with the corresponding norms of the laws on criminal responsibility of other countries. A statistical method was used to study legal practice. Conclusions. The article draws scientifically based conclusions and offers author's recommendations for improving the current legislation on criminal responsibility for abuse of power or official authority by a law enforcement officer, namely: it is proposed to recognize all officials as the subject of this criminal offense; as a qualified element of this criminal offense, the commission of an excess with the use of physical violence or the threat of using such violence should be taken into account; it is not appropriate to indicate in the law directly to the infliction of bodily harm in excess of power or official authority; in the event of the death of the victim or the infliction of grievous bodily harm on him, the actions of the perpetrator must be qualified under the relevant part of Art. 365 of the Criminal Code of Ukraine on the grounds of the onset of grave consequences; he motives and purpose of committing such a criminal offense should not affect the qualification, but should be taken into account when imposing criminal punishment on the perpetrators; physical, mental and other non-property harm in case of violent abuse of power or official authority should not be assessed according to the rules for causing property damage (one hundred or more times the non-taxable minimum income of citizens). The need for a legislative definition of the concept of physical and mental violence is indicated.