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Economic nationalism and state intervention recently gained attraction in many countries including Turkey. This paper questions whether Turkey has changed its economic policy framework towards a statecentric model and, if so, whether these changes are well thought-out and sustainable. The examination of key areas of state capitalism, that is the monetary, industrial, trade, financial, and state economic enterprise (SEE) policies put forward in the officially adopted five-year plans and annual programs, suggests that the changes in the economic policy framework began after the 2008 global crisis and accelerated after the transition to a presidential system. Upon examination, the policy framework does not reflect a definitive, coherent, and wholistic approach but rather a pragmatic attitude that swings back and forth, which exposes the country to swings in the global system. [ABSTRACT FROM AUTHOR]

Copyright of Revista NERA is the property of Revista NERA and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper examines the current state and development of the Bulgarian economy in 2023, considering domestic and regional factors. We analyze the real sector by tracking GDP, inflation, and unemployment, linking these to EU processes. Emphasis is placed on labour market adjustments in the context of digitalization and transitioning to a climate-neutral economy. The sustainability of the fiscal sector is explored through financing the green and digital transition with EU funds, and the necessary policies to maintain fiscal stability. We discuss foreign trade prospects, considering the economic conditions and expectations for Bulgaria's main trading partners, the high dependence on euro area performance, and the specifics of foreign trade relations. The banking sector and the capital market analysis focus on the implications of European Central Bank monetary policy, regulatory actions of the Bulgarian National Bank, and risks to sector stability in a dynamic macroeconomic environment. Expectations and forecasts for the Bulgarian economy through 2026 are based on assumptions about global economic processes and local challenges. We make economic policy recommendations aimed at preserving the purchasing power of the population's income and restructuring certain fiscal measures. [ABSTRACT FROM AUTHOR]

Today, the neoclassic economic theory still dominates the economic analysis, prediction, and even public economic policy, encouraged, unfortunately, by the career criteria in science and education fields. In such a context, the objectives of the paper are: (1) to systematize the findings related to the unrealism and theoretical and methodological mistakes of the economic neoclassic model; (2) to argue about the desirability, reliability, realism, and efficaciousness of an evolutionary model of the economy (and of Economics); (3) to draw the basic lines which an evolutionary economic theory could be edified on, starting from both the statu quo in the matter and the logical examination of the question. The approach of research is a mix between logical and historical (but not empirical) views regarding the evolutionary economic model/theory. The main results are: (a) arguing on the possibility of crystalizing the basic concepts of an evolutionary economic model; (b) making proposals for the evolutionary economic mechanism (in its abstract understanding -- as cybernetic system of order 3); (c) warning on the risks of a tale quale taking over of the evolutionary concepts from Biology; (d) identifying the principles to be followed in building up of an evolutionary economic theory. [ABSTRACT FROM AUTHOR]

This paper investigates the moderating role of the macroeconomic environment in the crash risk-policy uncertainty sensitivity. We find that managers have lower risk perception and crash risk is less sensitive to policy uncertainty during periods of economic expansion. Managers' risk perception is the critical channel through which the macroeconomic environment affects the relationship between crash risk and policy uncertainty. Consequently, when firms' managers have an accurate understanding of the future economic environment, the moderating effect of economic growth is lower. This manifests in the weaker moderating effect of economic growth for SOEs and firms with stronger managerial ability, lower managerial ownership, and high media attention, which further supports the risk perception channel. [ABSTRACT FROM AUTHOR]

Examining the roles of economic policy uncertainty (EPU) and geopolitical risk (GPR) in energy import (EI) is vital to ensuring energy security in China. The exploration utilises the TVP-SV-VAR methodology to seize the time-varying connection among EPU, GPR and EI. In light of the quantitative discussion, we discover that EPU exerts an adverse effect on EI, emphasising that the uncertainties in economic policies would reduce energy imports in China, which conforms to the theoretical hypothesis. GPR had a favourable impact on EI before COVID-19, primarily due to the changes in energy prices and diversification of imports, which turned negative after this epidemic because of economic recovery and more severe geopolitical events, which is not perfectly consistent with the qualitative analysis. Besides, the exploration replaces EI with oil import (OI) and ascertains the robustness of the reported conclusion. By comparing, the influences from EPU and GPR on coal import (CI) and natural gas import (NGI) are entirely different from OI primarily due to the substitution effect and geopolitical property. In the increasingly challenging economic and political environment context, the exploration will offer significant lessons for China to ensure the security of energy imports. [ABSTRACT FROM AUTHOR]

Global energy security is a growing worldwide concern in the presence of high economic policy uncertainty (EPU) that can be addressed by advancing sustainable energy diversification (ED) practices. Energy security can be estimated by combining ED and EPU indices; hence, this study uses a dataset covering three continents and 26 countries from 1995 to 2023 to measure energy security employing this approach. The study employs quantile regression and panel data analysis, finding a positive relationship between EPU and ED. The results reveal that when EPU increases, the spectrum of energy sources declines, negatively impacting energy security. Other factors of globalization, Gross Domestic Product, gross capital formation, and the labor force also have an impact on the spectrum of energy sources. To obtain a sustainable level of ED, policymakers should increase investment in gross capital formation because economic growth and openness via pro-global policies have less impact on ED. This study also demonstrates that labor capital shifts have a significant effect on ED. The quantitative results reveal the importance of clear and precise economic policies for increasing investment in carbon-free energy security. [Display omitted] [ABSTRACT FROM AUTHOR]

This paper empirically analyses the impact of fiscal policy on the economic growth of the countries of Southeast Europe. The work was carried out with secondary data from the 12-year period and respectively from 2010 to 2021 and includes 11 countries, so the data belongs to the panel type. The purpose of this paper is to analyze social variables such as government spending, income from taxes, public debt, government effectiveness, fiscal freedom, rule of law index, and corruption in economic growth. For this purpose, we employ different econometric models and techniques such as OLS, OLS Robust fixed and random effects models, and GMM (Generalized Method of Moments). The findings from the research show that fiscal policy instruments have a positive impact on the economic growth of the countries of Southeast Europe, while the effectiveness of the government, the rule of law, and corruption show a statistically significant impact on the economic growth of these countries. The recommendations for the countries are for policymakers in the region to prioritize the development and implementation of sound fiscal policies to stimulate economic growth. By strategically managing government spending and taxation, these countries can enhance aggregate demand, encourage investment, and create a favourable business climate. Furthermore, adopting expansionary measures during economic downturns and adopting prudent debt management practices can contribute to stability, confidence, and sustainable growth. [ABSTRACT FROM AUTHOR]

The first reporting period of 2024 US-Korea relations was busy, both with managing ongoing issues (good and bad) and adapting to genuinely new evolutionary turns in US-Korea affairs. Concerning the former, US-South Korea relations continued on the same trajectory since President Yoon Suk Yeol assumed office in 2022: deepening bilateral alliance interoperability, enriching trilateral cooperation with Japan, increasing economic security policy convergence with the US. And this despite new foreign, defense, finance, and trade ministers in Seoul. Widely viewed as a referendum on Yoon, April National Assembly elections cast a shadow over much of his foreign and security policy during the reporting period. However, the crushing defeat of Yoon's conservative People Power Party is unlikely to affect his approach to external affairs, where the president retains significant unilateral power. The "management" bucket also contains more threatening scenarios that have been building for months, years, decades. At the top of the list in importance is North Korea's build-out of its nuclear and missile program, which continued apace in the January-April 2024 period, also providing more evidence of the essential hopelessness of international sanctions. [ABSTRACT FROM AUTHOR]

Copyright of Economic History Research / Investigaciones de Historia Económica is the property of Asociacion Espanola de Historia Economica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Under Next Generation EU (NGEU), the European Commission has issued bonded loans to finance an ambitious programme of modernisation in its Member States. These bonded loans are backed by a general guarantee from the EU budget enhanced by an increase in the contribution of the Member States to the EU's GNl-based own resources. This choice marks a discontinuity with the practice to issue unconditional and irrevocable guarantees arranged, at different degrees, under the EFSF and SURE bond issuances. The reasons for this choice can be found in the need to avoid setting a precedent justifying the issuance of joint debt instruments, variously backed by a guarantee of EU Member States. Nevertheless, the need to raise resources for the green and digital transition and the common defence might change this picture. [ABSTRACT FROM AUTHOR]

The complicated interplay between the Romanian BET index, monetary policy rate, inflation rate, and RON/USD currency rate is studied using a Vector Autoregression (VAR) approach in this article. The methodology is based on the VAR model's ability to explain the dynamic relationship between multiple time series, with Granger causality tests used to identify the directionality of influence, impulse response functions used to trace the effects of economic shocks and forecast error variance decomposition used to measure the extent of variable interdependence. The findings show results about the links of monetary policy rate, inflation rate, BET index and exchange rate, with the purpose to find if capital markets are sensitive to macroeconomic policy decisions. The study emphasizes the central bank's policy rate's significance in influencing market expectations, as well as the complex impact of inflationary trends on currency valuation. [ABSTRACT FROM AUTHOR]

The article focuses on how public policies, particularly in transportation, agriculture, and education/housing, perpetuate disparities between whites and individuals of color, impacting economic inequality and generational wealth. Topics include the substantial racial wealth gap in the U.S., revealing stark contrasts in household wealth distribution and underscoring broader societal issues of power and privilege.

The Greek economic crisis produced severe economic and social outcomes. A massive rescue package was conditional on implementing a Memorandum of Economic and Financial Policies agreed upon between the Greek government and the EU, European Central Bank, and the International Monetary Fund. The extremely austere fiscal consolidation and the structural reforms accompanying the Greek Economic Adjustment Programmes reduced the country's GDP. Implementing the austerity policies on the Greek National Health System, which was already facing structural problems, reduced the quality and availability of public health care services. This paper investigates the impact of the GDP change on public healthcare expenditures (HCE) from 2000 to 2018. The empirical analysis reveals a statistically significant positive correlation between the GDP per capita and public healthcare expenditure (HCE) from 2000 to 2014 while the effect of GDP on HCE after the 2015 remains unchanged. This paper contributes to the field's literature since it determines the impact of GDP on public HCE, specifically matched with empirical results to derive conclusive answers. [ABSTRACT FROM AUTHOR]

Research on science, technology and innovation policy (STI policy) in Vietnam has mainly focused on the role of government and business—the two main groups of social actors shaping the development of the Government. From the cultural perspective of STI policy, the article analyses the interactions between four policy cultures representing four groups of social actors (academic, state, business and civil society) that affect the formation and development of STI policy in Vietnam through four stages of development. From there, the article provides a general picture of the role of four groups of policy actors involved in the policymaking process, considering aspects including: (a) the nature of the policy; (b) policy objectives; (c) policy makers; (d) policy instruments; (e) policy specificity and (f) group of agents representing policy culture. Next, the article analyses the formation and development of an innovation-based startup ecosystem that represents the concerns of a third policy culture—an economic policy culture. Finally, the article proposes some initial recommendations to promote the interaction between the components of the STI ecosystem, especially those related to the innovation-based startup ecosystem. [ABSTRACT FROM AUTHOR]

Lagos State's transformation into a critical urban hub highlights its economic promise and challenges, including rising unemployment, police brutality, and poverty amidst rapid growth. This study delves into how population increase, government spending, and financial policies affect the economy, revealing the critical role of education and job creation in tackling unemployment and enhancing living conditions. It underscores the impact of capital expenditure and monetary policies on economic stability, advocating for balanced development and targeted interventions to foster prosperity. The experience of Lagos offers valuable lessons for nationwide policy formulation and informed efforts for sustainable urban development and progress. [ABSTRACT FROM AUTHOR]

The article recounts financial crisis, triggered by political turmoil and exacerbated by economic mismanagement, leading to a collapse of the lira, panic in the stock market, and soaring interest rates. Despite initial reluctance from the US Treasury, efforts spearheaded by the author, in collaboration with Kemal Dervis and the IMF, were crucial in formulating a recovery plan, highlighting the importance of international assistance and a domestically perceived initiative for economic reform.

The article explores the historical significance and agency of itinerant showpeople, a marginalised and frequently overlooked community, in the late 19th century. Focusing on the French Chambre Syndicale Patronale des Voyageurs Forains (CSPVF) and its journal Le Voyageur Forain, this study sheds light on the struggle of showpeople to safeguard their economic interests, counter societal prejudices, and gain respectability in society. The CSPVF, Europe's first employers' association of this kind, played a pivotal role in supporting itinerant entrepreneurs. By analysing the CSPVF's organisational structure, professional networks, and efforts at integration, the article underscores the socio-economic dynamics of the era and between individuals positioned at the perceived centre and periphery of society. Drawing on union periodicals, the study examines the CSPVF's objectives and internal dynamics, the initiatives aimed at professionalising the itinerant showpeople's trade and its influence on economic policies. Additionally, the research explores the mechanisms of inclusion and exclusion encountered by showpeople within and outside their community and their strategies to combat stigmatisation while seeking respectability. By addressing these themes, the article contributes to a broader understanding of labour history, syndicalism, and the interplay of social identity and economic pressures in the itinerant entertainment industry during the late nineteenth century. [ABSTRACT FROM AUTHOR]

Copyright of H-Industria: Revista de Historia de la Industria Argentina y Latinoamericana is the property of H-Industria, Revista de Historia de la Industria Argentina y Latinoamericana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article contrasts whether the sectors with a GDP close to the average contribute more to the economic system through their employment multipliers and/or dispersion effects than those with a higher GDP. To achieve this, an 11-year horizon (2008-2018) and the 11 main centers of Chile's macro territories [Norte Chico (6) and Patagonia (5)] are used as a reference. The input-output matrices are used as source of information from which the variables GDP, employment multiplier and dispersion coefficients are obtained, the latter understood as those that allow quantifying the scope of the repercussions of an economic activity, by means of its direct and/or indirect effects. The results allow us to conclude that economic activities with a GDP close to the average, such as that of the education sector, show diffused effects that support the idea of facilitating development through changes in their production versus others that, with high GDPs, show concentrated effects that therefore limit their contribution in terms of interaction. These results will contribute to the establishment of economic development policies according to the particularities of each territory. [ABSTRACT FROM AUTHOR]

This study examines the impact of economic stimulus policies on tourism-related firms' stock prices, after movement restriction announcements, and differences in the relationships between economic policy responses and stock prices for large firms vis-à-vis small firms. Using a cross-section data of 888 firms from 56 countries listed on several stock exchanges, we find a positive and significant association between the COVID-19 economic stimulus index and 1- and 2-week average changes in tourism firms' stock prices after movement restriction announcements. Tourism firms' stock prices responded favorably to the introduction of macrofinancial packages and monetary policies. This study complements the literature on stock market reactions during the pandemic and contributes to the growing body of literature examining its overall effect. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to deepen the understanding of the relationship between global economic uncertainty and price volatility, specifically focusing on commodity, industrial materials and energy price indices as proxies for global inflation, analyzing data from 1997 to 2020. Design/methodology/approach: The dynamic conditional correlation generalized autoregressive conditional heteroscedasticity model is used to study the dynamic relationship between variables over a while. Findings: The results demonstrated a positive relationship between commodity prices and the global economic policy uncertainty (GEPU). Except for 1999–2000 and 2006–2008, the results of the energy price index model were very similar to those of the commodity price index. A predominant positive relationship is observed focusing on the connection between GEPU and the industrial material price index. The results of the pairwise Granger causality reveal a unidirectional relationship between the GEPU – the Global Commodity Price Index – and the GEPU – the Global Industrial Material Price Index. However, there is bidirectional causality between the GEPU – the Global Energy Price Index. In sum, changes in price indices can be driven by GEPU as a political factor indicating unfavorable economic conditions. Originality/value: This paper provides a deeper understanding of the role of global uncertainty in the global inflation process. It fills the gap in the literature by empirically investigating the dynamic movements of global uncertainty and the three most important groups of prices. [ABSTRACT FROM AUTHOR]

This paper aims to study the safe haven attribute of the Japanese yen under domestic and U.S. economic and policy uncertainty (EPU). Because of the existence of structural changes, a bootstrap rolling window subsample causality test is used to enhance the credibility of the results. The empirical results confirm that the exchange rate returns (RER) and Japanese EPU are correlated in specific periods when major economic or political events occur. In most crisis periods, the Japanese EPU has positive effects on RER, and the yen appreciates when the EPU is increasing. In addition, the RER of the yen and U.S. EPU are both negatively and positively connected. This finding confirms the hedging function of the yen in certain periods. The reason for this relationship is that Japan's low interest rates make the yen the primary funding currency in speculative carrying trade strategies, and thus, it tends to appreciate during crisis periods regardless of the origins of the EPU shocks. Therefore, the yen can be held as a safe haven currency unless the government intervenes artificially. [ABSTRACT FROM AUTHOR]

Copyright of Politiikka is the property of Finnish Political Science Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Listy Cukrovarnicke a Reparske is the property of VUC Praha a.s. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The rise in violent economic nationalism against foreign national interests in South Africa, particularly Nigerians and their investments poses some critical challenges to the liberal international economic system. This study investigates the impact of South Africa's economic nationalism on Nigerians' investments in South Africa. The study adopted the rational choice theory as the theoretical framework and mixed method of data gathering which relies on a documentary review, an unstructured interview and a focus group analysis involving Nigerians that were evacuated from South Africa. The findings revealed that violent economic nationalism among South Africans and the reprisal attacks in Nigeria have undermined Nigerians' investment potentials and created a host of issues in their economic relations including low productivity, temporary unemployment of workers in the investment industries, reduction of foreign exchange earnings and stagnated trade activities between the two countries among others. The study concludes that notwithstanding the perennial eruptions of violent episodes of economic nationalism in South Africa, the two countries have demonstrated commitment to boosting and sustaining their trade relations. It notes the absence of synergy between South Africa's demand for inclusive labour employment and Nigerians' investment activities. The study recommends close coordination between governments and the enforcement of rule of law in both countries especially, laws to protect foreign investors and investments. [ABSTRACT FROM AUTHOR]

The paper examines the current state and development of the Bulgarian economy in 2022 and the first quarter of 2023 considering domestically determined and regional factors and processes. We analyse the real sector of the Bulgarian economy by tracing the dynamics of economic activity (GDP, inflation, and unemployment) considering internal and external factors affecting inflation dynamics and labour market processes. The sustainability of the fiscal sector is viewed through the possibilities of financing the green and digital transition using EU funds and programmes, and the policies needed to preserve the fiscal stability. Prospects for foreign trade are discussed in terms of the economic situation and expectations of Bulgaria's main trading partners, considering the high connectivity with the euro area and the structural specificities of foreign trade relations. The analysis of the financial sector (banking sector and capital market) focuses on the implications of the monetary policy pursued by the European Central Bank and the regulatory actions of the Bulgarian National Bank, as well as on the risks for the stable functioning of the sector in a dynamic macroeconomic environment. Expectations and forecasts for the Bulgarian economy to 2025 are based on key assumptions about the global economic processes and locally determined challenges. Recommendations are made to the national economic policy aimed at preserving the purchasing power of the population's income and the need to restructure certain fiscal measures. [ABSTRACT FROM AUTHOR]

These challenging economic times put most countries in a position to stimulate and strengthen economic growth through fiscal policy measures. We all know that fiscal policy aims to raise as much revenue as possible for the state budget in order to stimulate economic growth. As a result, Romania adopts fiscal policy measures such as: stimulating investments, stimulating consumption, controlling inflation, reducing the budget deficit, etc. Economists (Musgrave Richard & Musgrave Paggy, 1984) identified three functions of fiscal policy which are inter conditioned and related to the state economy: allocation, distribution and stabilization.[13] The paper aims to address in a suggestive manner the impact of fiscal policy on economic growth, and the main objective of the article is to highlight the evolution of economic growth in Romania in the last 10 years as a result of the application and implementation of fiscal policy measures in order to maximize the positive impact on economic growth. Fiscal policy is the basis for a state's economic actions, interacting with all other policies, i.e. monetary policy, social policy, development policy, budgetary policy, etc. This interaction must be translated into a set of economic growth measures. [ABSTRACT FROM AUTHOR]

The research carried out aims to identify trends in sustainable economic development by analyzing the correlation between fiscal policy, public debt, budgetary deficit, collected revenues and budget expenditures. The statistical analysis highlighted a model that demonstrates the influences exerted by the independent variables on economic growth. The ultimate goal is to provide an empirical framework for improving tax policy, considering the reduction of tax evasion, the increase of voluntary payment compliance and the assurance of sustainable economic development in Romania. The obtained results demonstrated that there is a positive correlation between government spending, public debt, budget deficit and gross domestic product, as well as the fact that Romania applied a procyclical fiscal policy. [ABSTRACT FROM AUTHOR]

This article aims to evaluate whether green bonds (GB) can hedge the policy uncertainty risk and enhance the stability of the U.S. economic environment. Existing research provides sufficient theoretical support for GB to diversify economic risks and optimise investment portfolios. Against this background, we adopt the bootstrap rolling-window method to detect the causality between GB and economic policy uncertainty (EPU). The findings evidence that GB is positively influenced by EPU, suggesting that policy uncertainty risk stimulates the growth of green financing. Therefore, GB can be considered a valid hedge against uncertainty shocks. This outcome is supported by the general equilibrium model, which indicates that EPU has specific influences on GB. The adverse impact of GB on EPU demonstrates that GB can improve U.S. policy stability. Moreover, the GB market has an early warning effect on the economic situation, which can be a barometer reflecting EPU fluctuations. GB has become an essential asset for investors in the ongoing global economy and financial market turbulence. Hence, when formulating economic policies, the government should consider the impact of policy changes on the GB market and offset the negative influences of policy fluctuations. [ABSTRACT FROM AUTHOR]

Over the last decade, no issue in economic policy has caused greater controversy than the effects of fiscal deficits on economic growth. Fiscal deficits have been a significant cause of worry for many developed countries, notably the Eurozone. Even if short stimulants were justified, particularly after the crises of 2008-2009 in response to the global financial crisis, they have resulted in chronic fiscal deficits, growing debt, and depleted fiscal buffers in the medium to long term. This paper investigates, using STATA econometrics, how fiscal deficits affect the economic growth rate in Eurozone Countries. We use annual data for Eurozone countries from 2001 to 2020, totalling 346 observations. The study relied on secondary data from the World Bank's databases. To estimate the effect of fiscal deficits on economic growth, we used a random effect model. The dependent variable GDP growth was analysed through the effect of Public and publicly guaranteed debt from publicly issued or privately placed bonds Inflation, GDP deflator, Unemployment, Foreign direct investment, net inflows as a percentage of GDP, Domestic credit to the private sector as a percentage of GDP. Our research findings reveal that the variable Inflation and Domestic credit to the private sector affect GDP growth and are statistically significant. [ABSTRACT FROM AUTHOR]

China's need for rapid economic growth and its hunger for natural resources significantly challenge its economic and policy vision of sustainability, social stability and economic development. The 'Beautiful China Initiative' plans to put China on the path of sustainable development in line with the United Nations' 2030 Agenda and its Sustainable Development GoaSls. The Chinese authorities are expected to reconsider traditional economic policy models to integrate environmental protection while ensuring that their economy proliferates. The shift from a traditional and heavy coal-dependent economy towards greener energy and a sustainable economic model brings additional challenges to China due to its historical dependence on coal as its energy engine. This research paper examines causality patterns between economic growth and fossil fuels energy consumption by analysing coal consumption and carbon dioxide emissions policies using Pesaran's autoregressive distributed lag model. The research findings offer insights into China's challenges to transition towards a more sustainable economic model, making the country's 'Beautiful China Initiative' quite complex as it needs to navigate through high levels of environment-friendly economic growth whilst trying to avoid the middle-income trap. [ABSTRACT FROM AUTHOR]

This research aims to examine whether banks can employ interest-rate derivatives to mitigate or intensify the effects of economic policy uncertainty on bank lending. By testing two opposing hypotheses, it offers valuable insights into how the interplay between bank lending, interest-rate derivatives, and EPU can influence bank's loan growth. Using a sample of 1,285 Bank Holding Companies (BHCs) for the period from 1986 to 2017, panel regression analysis confirms a negative relationship between EPU and Commercial Industrial (C&I) loan growth. This negative association is not only statistically significant but also economically meaningful. Specifically, when EPU increases by one standard deviation, bank holding companies (BHCs) experience a decrease in loan growth rate by 91 basis points. While derivative users exhibit a significantly higher mean loan growth compared to non-users, the interaction term between interest-rate derivative usage and EPU is negative and statistically significant. This suggests that the usage of interest-rate derivatives aggravates the negative impact of EPU on bank lending. [ABSTRACT FROM AUTHOR]

In response to the unprecedented circumstances resulting from the COVID-19 pandemic, various national government policies were implemented to reduce the serious economic damage caused by the pandemic and attempts to control it. These policies generally aimed to kick-start domestic-led recoveries in many sectors. This study examines how different types of fiscal measures adopted by governments in response to this pandemic are associated with the growth of expenditure on domestic travel in 2020. Utilizing data from 76 countries and applying OLS estimator and 2SLS regression (which mitigates the potential endogeneity problem), the study shows that governments' additional spending and tax reductions (especially in non-health sectors) positively contributed to rising expenditure in domestic travel destinations. Similar results are found for countries that are very reliant on tourism. Our findings lend empirical support for Keynesian theory's prediction concerning the effect of government spending and tax reduction on household consumption behavior in the short run, particularly during periods of economic stress and uncertainty. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Ciencias Sociales (13159518) is the property of Revista de Ciencias Sociales de la Universidad del Zulia Venezuela and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines, from the perspective of Post-Keynesian economics, the effects of Foreign Direct Investment (FDI) on the employment rate in 18 post-transitional European countries from 1995 to 2021. Using a two-step system Generalised Method of Moments (GMM) panel data estimator, we test the hypothesis that the employment impact of investment depends on the interaction of FDI and domestic investment in terms of crowding-in and crowding-out relationships, assuming that this relationship is sensitive to the sectoral distribution of FDI stock. Our findings suggest that the reallocation of FDI inflows from the manufacturing sector to the less labour intensive financial and information and communication technology (ICT) sectors tends to reduce the employment effect of FDI both directly and indirectly by reducing the magnitude of the crowding-in effect of FDI on domestic investment. The outcome of our study is of great interest to economic policy makers. If foreign investment displaces domestic investment and reduces employment in high value-added sectors, policies intended to attract foreign capital could be challenged and undermined. Otherwise, if foreign and domestic investment in sectors with high added value are complementary, it justifies policies aimed at attracting foreign investment. [ABSTRACT FROM AUTHOR]

The article focuses on the role of public policies in perpetuating disparities between whites and individuals of color in the U.S., particularly in transportation policy, agricultural policy, and housing policy related to the GI Bill. Topics include income gaps between whites and African Americans or Latinx populations, discriminatory aspects of transportation policy affecting communities of color, and recent legislative efforts to address historical racism in transportation and urban planning.

Against the backdrop of high leverage and indebtedness worldwide, the prevention of corporate default and systemic financial risk has received growing attention from academics and practitioners. Using a sample of Chinese A-share listed firms on the Shanghai and Shenzhen stock exchanges from 2010 to 2019, this study empirically examines the impact of economic policy uncertainty on default risk and its underlying mechanism. We find that economic policy uncertainty significantly increases default risk. This finding remains valid after a series of endogeneity and robustness tests, including instrumental variable methods. The results of the mechanism test show that good corporate operational capabilities, a high level of corporate internal governance, and effective external monitoring mechanisms can mitigate the impact of the economic policy uncertainty on default risk. This study enriches the research on economic policy uncertainty and default risk while also providing new insights to curb the further rise of corporate default risk from an external macro perspective. [ABSTRACT FROM AUTHOR]