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In the UK, financialization has transformed many areas of the economy, including the housing market. The deregulation of financial markets that took place from the 1980s onwards, combined with the privatization of social housing, has transformed UK real estate from an ordinary good, insulated to some extent from consumer and financial markets, into a valuable financial asset. The financialization of real estate has had a largely negative impact on the UK’s housing market, the wider economy and individual communities; wealth inequality, financial instability, gentrification and homelessness have all increased as the role of the financial sector in UK property has increased. The financial crisis only accelerated many of these trends as distressed real estate was bought up by investors in its wake, and as loose monetary policy pushed up house prices in the period after the crisis. The COVID-19 pandemic is only likely to exacerbate these issues; the UK is sleepwalking into a potential evictions crisis, and ongoing loose monetary policy is likely to prevent a significant and necessary correction in house prices over the long term.

This study is based on the problem that how regulations made by oil and gas regulatory authority influences the companies in oil and gas sector of Pakistan. We identify 13 regulatory changes in oil and sector of Pakistan which broadly includes the announcement related to the formulation, functions and responsibilities of oil and gas authority, deregulation and changes in the prices of oil and gas products, interference of apex court into the oil and gas sector and privatization of oil refineries in emerging market of Pakistan. Well-liked event study methodology is used to uncover the impact of regulation announcement on equity prices in Pakistan. Beside this, we also capture the effect of regulation announcement on the firm performance by introducing the dummy variable in ordinary least framework. In line with the financial and econometric theory criteria, we use the sales growth, leverage, liquidity and tangibility as control variables. Study reveal that regulatory announcements have statistically significant aggregate effect on the oil and gas sector of Pakistan stock exchange. We recommend to the policy makers, managers and regulators that the stock prices of oil and gas companies are more sensitive toward the regulatory announcements related to interference of Supreme Court and regulations concerning to the formulation, functions and responsibilities of oil and gas regulatory authority in Pakistan.

This article explores how and why employment protection legislation developed in Sweden in the ways that it did from its early beginnings to the present period. It hopes to offer answers to questio...

The scope of this paper is to investigate the impact of market deregulation on the level of farm-gate prices and the competitiveness of raw milk producers in Greece along the suggested lines of OEC...

We investigate the stock market’s reaction to events leading up to the Securities and Exchange Commission’s (SEC) and Public Company Accounting Oversight Board’s (PCAOB) 2007 regulatory changes that reduced the scope of and documentation requirements for assessments of firms’ internal controls over financial reporting (ICFR), as required by Section 404 of the Sarbanes-Oxley Act. The stated goal of these regulations was to reduce firms’ and auditors’ compliance costs with mandatory ICFR assessments, while maintaining the effectiveness of these assessments. We examine abnormal returns surrounding key dates leading to the passage of these regulations and offer two main findings. First, investors reacted negatively on key event dates, suggesting that investors viewed the regulations as likely to reduce financial reporting quality rather than to drive firm and audit efficiencies. Second, this negative market reaction is larger when ICFR effectiveness should matter most – when firms are more complex, have higher litigation risk, and greater fraud risk. In additional analysis, we find that restatements increase in the post-regulation time period, consistent with investors’ concerns that the effect of the legislation would be a reduction in ICFR effectiveness. Overall, our results may imply that investors prefer stronger government regulation when it comes to the assessments of a firm’s internal controls over financial reporting.

On 26 October 2019, the 14th session of the Standing Committee of the 13th National People’s Congress passed and promulgated the Cryptography Law of the People’s Republic of China (hereinafter referred to as the “Cryptography Law”) which shall be effective as of 1 January 2020. Prior to that, the rules of high legislation hierarchy on cryptography administration could be traced back to the Regulations on the Administration of Commercial Cryptography (hereinafter referred to as the “Regulations”) promulgated by the State Council in October 1999. Thereafter, the State Cryptography Administration and the Standing Committee of the National People’s Congress promulgated the Cryptography Law of the People’s Republic of China (Draft for Comment) and the Cryptography Law of the People’s Republic of China (Draft) (hereinafter referred to as the “Cryptography Law (Draft)”) respectively on 5 April 2017 and 5 July 2019. The Cryptography Law which is based on the Cryptography Law (Draft) and has improved the same fills the long-standing legal gap in the field of cryptography and is the first comprehensive law on cryptography administration in our country. By comparing the following articles, we will analyze the main changes of the Cryptography Law against the Regulations and the Cryptography Law (Draft) and its connection with the existing relevant laws and regulations, so as to show the evolution of China’s cryptography regulatory system and its approaches of “regulation” and “deregulation”.

Purpose: The purpose of this study is to determine the meaning of mandatory requirements as the subject basis of control and supervisory activities and a factor in the effectiveness of economic activities. Design/Methodology/Approach: In order to achieve this goal in the work is, use the following general and private-scientific methods: dialectical, logical, systematic and comprehensive analysis, comparative -legal, legalistic. Findings: The article examines the questions of the legal structure of mandatory requirements. The necessity of isolating this legal phenomenon in the general architectonics of legal regulation of control and supervisory activities, as well as in the general array of peremptory norms in order to ensure the legal certainty of the subject basis of control and supervisory activities, is substantiated. The paper defines the content and main characteristics of the mandatory requirements. As a result of the study, it is concluded that there is an active process of formation of legislation on mandatory requirements as a component of the general system of legislation on control and supervisory activities. Practical Implications: Improving the legal mechanisms of control and supervision of production will allow to achieve the improvements I have the relationship of government and business, reducing excess pressure on legal entities of different legal forms of ownership and individual entrepreneurs. Originality/Value: The findings, made by the results of this study, will contribute to improve the effectiveness of the protection of rights and legal interests of business entities during the supervisory activities subjects of public administration.

This article analyses the inherent conflict between public and private interest from a long time-perspective, using the example of Sweden from 1620 to 2000. The main argument is that there have been two equally decisive historical shifts in the political discourse on how to organize public services in the past: First, a shift from an early modern patriarchal discourse to a more expansive articulation of publicness during the nineteenth century. Second, a shift toward privatization and deregulation in the late twentieth century. Both these shifts must be considered to fully explain the changing forms of public organization up to the present day. Theoretically, the concept of “publicness” is used to explain the political discourses on the organization of public services. Drawing on three discursive chains, the argument is that the political development was affected by the politicians’ conception of the political community, the form of organization, and by perceptions of values such as equal access and modernity. Our results demonstrate how and why political arguments for or against private service providers have motivated profound changes in the way public services are perceived of and organized.

This paper emphasises the impact of the ongoing liberalisation of agricultural policies and trade in agricultural commodities on spatial price transmission in agricultural markets. Based on a liter...

Using a sample of 197 commercial banks operating in the MENA region, this paper examines the impact of competition on bank profitability and risk-taking, during the period 2011–2018. To assess competition, we have used both market structure-based and non-market structure-based indicators. Results indicate that competition would impact differently banks’ profitability and risk-taking. On the one hand, an increase in competition seems to hurt banks’ net—interest margin and loan quality, but on the other hand, the competition seems to enhance banks’ ROA and ROE. In line with existing literature, we suggest that competition reduces interest-based income, and increases bank fragility, but it seems to enhance the development of new non-interest-based activities, improving hence the overall banks’ profitability. We argue that our findings would contribute to the current debate on the effectiveness of the deregulation reform initiated in several MENA countries and help to resolve the trading-off between competition and bank stability.

Antitrust is high on the reform agenda at present, associated with calls to “break up big tech.” Proponents of reform have invoked history with regularity in making their case. They say reform is essential to reverse the baleful influence of the Chicago School of antitrust, which, in their telling, disastrously and abruptly ended in the 1980s a “golden” era of beneficially lively antitrust enforcement. In fact, antitrust enforcement was, at best, uneven, from the early 20th century through to the end of the 1970s. As for the antitrust “counter-revolution” of the late 20th century, this was fostered as much by fears of foreign competition and skepticism of government regulation as Chicago School theorizing. The pattern helped to ensure that the counter-revolution was largely sustained through the opening decades of the 21st century. This article, in addition to getting antitrust and history in tune by drawing attention to the foregoing points, provides insights regarding antitrust’s future direction.

For decades, colleges and universities in the U.S. have responded to increased competition, shrinking budgets, and other challenges by relying on growing numbers of part-time faculty. Scholars use the phrase “gig academy” to analogize higher education institutions, and their growing reliance on adjunct faculty, to the gig economy. This article examines how the government and higher education accreditors have relaxed full-time faculty requirements at colleges and universities, failing to constrain a drastic increase of gig workers in academia. When evaluating institutional quality, accreditors and the federal government focus less on an institution’s resources (including faculty resources) than on student outcomes (such as graduation and debt default rates). Although holding institutions accountable for student success is often appropriate, a negative consequence of this approach has been a lack of transparency and absence of public accountability regarding a college or university’s investment in its faculty. The ABA, in contrast, maintains relatively strict full-time faculty requirements. But in response to pressure from the federal government, even the ABA has relaxed enforcement of these requirements over time. The article argues that the ABA’s strict rule-based approach may err on the side of raising educational costs but is preferable to reliance on vague standards. It also considers ways to improve public disclosure of higher education institutions’ reliance on adjunct faculty.

Im Dezember 2009 gab die Bayerische Staatsregierung das Ziel einer grundlegenden Neugestaltung der Landesentwicklung im Freistaat nach den Prinzipien der Liberalisierung, Deregulierung und Kommunalisierung aus. Diese Entscheidung fällt zusammen mit dem Aufkommen der globalen Finanz- und Wirtschaftskrise und der daran anschließenden Eurokrise, in deren Zuge sparpolitische Ziele an Bedeutung gewannen. Ausgehend von der Beschreibung eines austeritätspolitischen Föderalismus durch den Geographen Jamie Peck analysiert dieser Beitrag die raumordnungspolitischen Reformen in Bayern zwischen 2008 und 2018. Hierzu stützt er sich auf die Merkmale der Kommunalisierung, des Wettbewerbs und der Responsibilisierung von Städten und Gemeinden und prüft, ob diese Logiken auch im Freistaat nachzuvollziehen sind. Der Beitrag schließt mit einer Diskussion der Konsequenzen des austeritätspolitischen Föderalismus für die strukturschwachen Kommunen Bayerns. In December 2009, the Bavarian State Government issued a fundamental reorganisation of state development in Bavaria according to the principles of liberalisation, deregulation and municipalisation. This decision coincides with the emergence of the global financial and economic crisis and the subsequent euro crisis, in the wake of which austerity policy objectives gained importance. Based on the description of an austere federalism by geographer Jamie Peck, this paper analyses the spatial planning reforms in Bavaria between 2008 and 2018. Based on the characteristics of municipalisation, competition and responsibilisation of cities and municipalities the paper examines whether these logics can also be observed in Bavaria. The article concludes with a discussion of the consequences of austere federalism for structurally weak municipalities in Bavaria.

This article introduces a special issue on economic systems and everyday abuses of labour rights. In recent decades, neoliberal policies have transformed both the world economy and the world of work. Hard-won rights and protections have been eroded by deregulation, outsourcing, and subcontracting. New forms of unstable, isolated, and insecure work have emerged. This introduction examines the driving forces behind the increasing prominence of precarious work, the accelerating role of migrant labour within global economic systems, and the political relationship between everyday abuses and forms of severe exploitation which have recently come to be defined as human trafficking and modern slavery. We argue that a singular focus upon individual cases of extreme exploitation is unlikely to be effective, and can also draw attention away from the larger systems, interests, and abuses that are associated with the smooth and regular operations of the global economy. We also suggest that at least some of the energies which have recently been expended debating the contentious category of ‘modern slavery’ could be usefully redirected towards lower profile interventions concerned with worker and migrant rights. There are never going to be simple or straightforward solutions to labour abuses, so it is necessary to take many bumpy paths simultaneously, with small steps forward and some steps backward.

Desde el análisis de políticas públicas, el artículo aborda la evolución de lapolítica turística argentina entendiendo tal política como parte de un proceso histórico. La metodología que acompaña esto consiste en el análisis documental de normativas, leyes, decretos y documentos enfocados en la evolución de la política turística argentina. La misma responde a un contexto social, económico y político particular, estructurado sobre la base de cánones internacionales vigentes, que permiten identificar periodos diferenciados, que no se pueden explicar a partir de una única variable. Las acciones públicas en el área llevan consigo las ideas y necesidades del gobierno y las relaciones de este con los demás actores gubernamentales y privados, que dinámicamente ocupan unaposición predominante en la arena turística. El estudio identifica: una fase inicial, previa al surgimiento histórico del turismo como asunto público, a partir de una fuerte participación de actores privados; una fase de expansión, asociada a la consolidación del Estado de Bienestar argentino y la generalización del derecho a las vacaciones pagadas; y finalmente, una fase de reconversión, vinculada a las ideas de desregulación y privatización que priman desde finales del siglo XX, consolidando las finalidades económicas asociadas al impulso de la actividad From the analysis of public policies, the article discusses the evolution of Argentina´s tourism policy understanding such policy as part of a historical process. The methodology that accompanies this consists in the documentary analysis of regulations, laws, decrees and documents focused on the evolution of Argentina´s tourism policy. This responds to a particular social, economic and political context, structured on the basis of current international canons, which allow differentiated periods to be identified, which cannot be explained by a single variable. Public actions in the area carry with them the ideas and needs of the government and its relations with other governmental and private actors, which dynamically occupy a predominant position in the tourism arena. The study identifies: an initial phase, prior to the historical emergence of tourism as a public issue, based on the strong participation of private actors; an expansion phase, associated with the consolidation of the Argentine welfare state and the generalization of the right to paid holidays and, finally; a phase of reconversion, linked to the ideas of deregulation and privatization that prevail since the end of the 20th century, consolidating the economic purposes associated with the promotion of the activity. Fil: Schenkel, Erica Natalia. Universidad Nacional del Sur. Departamento de Geografía y Turismo; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca; Argentina

The growth of the American financial services remains a bit of a puzzle. The standard approach, the deregulation hypothesis, posits that the industry expanded in response to national deregulation. Yet, when viewed in a comparative context, US finance was deregulated significantly less than other national financial systems and yet grew significantly more than most. We propose the global deregulation hypothesis as a solution to this puzzle. The hypothesis posits that American finance grew in response to deregulation in Europe and the emerging market economies. The article develops two theoretical mechanisms that link global deregulation to US financialization. It reports statistical tests that support two central implications of the global deregulation hypothesis. First, global deregulation is positively associated with the growth of US financial services, while US deregulation is not. Second, global deregulation is not systematically related to the growth of financial services in other industrial democracies.

Purpose Although short selling has been legalized in China for nearly 10 years, due to the existence of short-sale constraints, its impact on corporate governance of listed companies remains unclear. This paper aims to examine the impact of short-sale refinancing on earnings quality after the short-selling constraints have been released. The authors further explore whether this impact is subject to the nature of property rights and shareholding structures. Design/methodology/approach This study is based on a sample of A-share firms in China for the period 2014–2016. The authors use earnings response coefficients (ERC) as a proxy for earnings quality. To empirically examine this issue, a matching sample is generated by using propensity score matching method (PSM) to reduce sample selection bias. Findings This study provides evidence that deregulation of short selling has positive external effect on corporate governance. The results indicate that the potential short-selling opportunities can effectively suppress earnings manipulation and improve earnings quality. However, the impact of short selling on earnings quality varies for companies with different nature of property rights and shareholding structure. Originality/value To the best of the authors’ knowledge, this is the first study to investigate the relationship between short selling and earnings quality in the unique setting of short-sale refinancing. This study provides new evidence on the impact of short selling at the micro level and calls for further deregulation of short selling. In addition, this study contributes to existing studies on short-sale refinancing by examining an emerging market.

Landholding agencies in the United States are under increasing pressure to integrate cultural and natural resource management approaches at a landscape level and to do so earlier and more comprehensively in planning processes. How to integrate management practices is poorly understood, however. An impediment to integration is that the laws, methods, and tools used in cultural and natural resource management differ significantly. Natural resource management protects or rehabilitates habitats and ecosystems that support endangered species, while cultural resource management focuses on identification and protection of individual sites. Agencies need to shift the focus from managing sites to defining cultural landscape elements and their relationship to natural resource management units and concerns. We suggest that agencies use archaeological predictive modeling, resource classes, and paleoenvironmental and cultural historical information to geospatially define cultural landscapes, predict resource distributions and values, and identify opportunities and protocols for collectively managing cultural and natural resources. As the United States faces increasing deregulation and limited preservation funding, we believe an integrated approach will be critical in preserving and protecting both cultural and natural heritage.

After deregulation of the airline industry, revenue management has evolved from flight leg and flight segment-based inventory controls to origin and destination inventory controls. Advances in revenue management have always focused on more granular controls to maximize revenues. Revenue management of individual seats is the most granular level of inventory control by customer segment or individual customer. This paper discusses the evolution of revenue management leading up to the inventory control of individual seats.

In this paper, we investigate the economic effects of deregulation in Japan’s intercity coach industry. Specifically, we examine the intensity of competition in the industry using a unique dataset, to evaluate the economic effects of two major deregulations in 2002 and 2013. The absence of organized data means there is no previous research that quantitatively evaluates the deregulations. We collect data capturing the entry of bus operating companies by web-scraping and use a structural estimation method developed in econometrics for the purpose of measuring the degree of competition. Our empirical analysis yields the following three main results. First, we find that the markup ratios always exceed 1, which indicates that the entry of one additional firm always intensifies competition. Specifically, the markup gained by one firm under duopoly is estimated to be about three quarters of that under monopoly. Second, the competitive effect of an additional entry decreases as the number of incumbents increases. This result is obtained irrespective of the mode of competition. Third, we find that the services offered by firms in the industry are significantly differentiated. Counterfactual analysis reveals that additional 0.76 firms can enter a market on average by differentiating their products from each other. These results provide useful insights into the development of competition policy pertaining to the contemporary transportation industry.

Spain underwent two major labour reforms in 2010 and 2012 under the assumption that deregulating the labour market and decentralizing collective bargaining would automatically reduce unemployment (deregulation hypothesis). This article highlights the impact of demand and the sectoral structure of the economy to explain the behaviour of this variable (structural hypothesis). Analysing subnational panel data, the authors assess the capacity of these two hypotheses to explain unemployment trends. Their results cast doubt on the deregulation hypothesis and indicate the importance of cyclical and structural factors.

Food Regime scholars conclude that we now live in a ‘Corporate Food Regime’. 1 Characterised by market liberalisation and the deregulation of the financial industry, the political economy of our Fo...

This paper reviews the retail interest-rate-control deregulation in China over the 1993-2015 period and provides a preliminary assessment of the PBC's replacement monetary framework. I show that the interest-rate controls triggered the development of deposit substitutes that banks used to circumvent the restrictions, which in turn drove deposits out of commercial banks.This gave rise to concerns about deterioration of bank profits and build-up of financial frangibility, which have pushed up the PBC's deregulation acceleration over the post-2012 period. I quantify the distortionary effects of these controls: disintermediation, a rising shadow banking system and financial repression. Despite the official lift-off of the controls, the retail interest rates are still subject to the PBC’s window guidance and other pricing mechanism guidance. The interest-rate corridor does not function well in confining money market rates. This suggests that the PBC adopt a target money market rate system.

Using ‘media policy silence’ as a construct, this article discusses three types of policy practices that are marked by policy opacity rather than policy visibility, by the absence of formal policy or ‘un-decisions’ rather than decisions and by policy inertia rather than intervention. They are, respectively, first, the ‘elephant in the room’ type of silence that mostly refers to lacunae in policy outcomes and agendas; second, policy ‘undecisions’ (i.e. policy scenarios in which no formal policy decisions take place); and last, ‘considered silence’ that refers to government non-intervention. I will talk about these three different types of media policy silence and their relationships by drawing upon existing literature, using examples from different political and regulatory contexts, and where appropriate, reflecting on the methodological challenges that those silences pose to traditional policy research. To sum up, the article intends to identify the opposite side of the official and formal policy sphere.

In response to debates on emergent and rogue forms of urbanism that are reshaping the African city, this article examines the night-time leisure economy as one particular social context in which the tensions and opposition between regulation/deregulation and informality play out. This article shows how ideas that centre on Northern entertainment spaces and drinking venues (bound with policy initiatives to reposition the city) have come to inform policy initiatives to regulate working-class public spaces in South African cities with the objective of controlling unruliness. Through a case study of informal and illegal drinking venues in Sweet Home Farm, a slum settlement in Cape Town, we provide an insight into the ways in which people seek to reclaim social space and impose their own vision of the creative city. The article demonstrates that while illegal drinking venues can be imagined as ?unruly, unpredictable, surprising [and] confounding?, they are characterized by a responsive agility to the social, cultural and physical environment. We argue that the capacity and tenacity of informal drinking venues to adapt to regulatory pressures present a range of possibilities for reimaging the night-time leisure economy in ways that are inclusive of the poor and conducive to negotiation.

The research method with a qualitative descriptive approach through understanding some opinions of flight leaders, several other sources. The results of this study are an overview of all the results presented by some of the sources above, and the results of this study indicate that there is a need for strategic management, creating revenue from other sources. Airlines must maintain cash flow because it is related to sustainability. large, the growth of the middle class of passengers has increased the most, focusing on strategic routes that have not dealt directly with airlines that run the low cost carrier model, Low cost Carriers help create a surge in passengers so the government must arrange airlines that use the low cost carrier privilege, the Government must continue to build airport infrastructure. It is necessary to evaluate the business of airlines in Indonesia and, it is necessary to prepare human resources who understand the crisis and turn around strategies of Airlines. Merpati Nusantara Airlines is a state-owned enterprise formed in 1962 as an inter-island bridge in Indonesia, February 1, 2014 stopped operating due to financial problems, and high competition due to low entry barriers and market liberalization as a result of globalization. Dealing directly with airlines that run the low cost carrier model, Low cost Carriers help create a surge in passengers so the government must arrange airlines that use the privilege of low cost carriers, the Government must continue to build airport infrastructure, need an evaluation of the airlines business in Indonesia and, it requires preparation of human resources who understand will be a crisis and Turn around strategy from Airlines.

International audience; B2B firms spend considerable sums of money on promotional activities to promote their products and to build brand equity. An increasing proportion of this spending is being devoted to direct to end-user (DTE) advertising in an effort to pull end-users towards their products as a complement to their push promotional activities. This is particularly true for US-based pharmaceutical firms following the deregulation of DTE advertising. This trend suggests the necessity to investigate how efficiently DTE advertising expenditure is being managed, and to ascertain whether the level of efficiency has any impact on profitability. This study examined the level of DTE advertising efficiency for a sample of US-based pharmaceutical firms and went on to investigate the impact of the efficiency level on firm profitability. The findings of the study demonstrate that DTE advertising efficiency does vary between firms and, furthermore, that the higher the level of efficiency, the better is firm profitability. These results are robust to alternative measures of firm profitability, specifically, return on assets (ROA), return on equity (ROE), gross profit margin (GPM) and net profit margin (NPM).

The purpose of the research is to analytically assess the current state and trends of the Ukrainian fish and seafood market and identify both negative and positive trends in its functioning. Research methods. Scientific methodologies of domestic and foreign researchers in the field of production and consumption of fish and seafood in Ukraine became the general methodological basis of the research. Due to the dynamic market and constant updating of information, the authors of the article focused on the analysis of materials of scientific professional publications and Internet sources, which reflect the data of statistics, opinions of specialists, analysts and experts of the fishing industry of Ukraine. The work used such general scientific and specific research methods as logical generalization, systematic approach and theoretical search, based on the collection and processing of formalized reporting data. Results. The article analyzes the state and prospects of development of the Ukrainian fish and seafood market. The main problems of functioning of the Ukrainian fishing industry and the current state of its development are identified. The trends of consumption of fish and seafood in Ukraine are considered. During the research the problematic aspects of providing the population with fish and seafood caught in the waters of Ukraine were identified. On the basis of the results of the study, the ways of promising directions of development of the fishery industry with the purpose of providing the population with food with a complete protein composition were proposed.In Ukraine, there has been a negative trend in the overall dynamics of the development of the fish market. The raw material base of Ukraine's natural water resources is exhausted year after year, with total domestic production of water resources providing only 30% of domestic demand, so Ukraine is forced to increase its imports of fish and seafood. The situation is complicated by the "shadow" component of the market, insufficient attention and reaction of the relevant control authorities on irregularities in fisheries and customs control of imported products. The way out of the situation is a set of measures: development of own aquaculture, introduction of innovative technologies of fish and seafood processing, positive changes in the work of state bodies for deregulation and de-shadowing of the fishing industry, adjustment of financial assistance to aquaculture farms. Practical importance. the ways of perspective directions of improvement of tendencies of the fishing industry of Ukraine are offered. The analysis of the situation on the Ukrainian market of fish and seafood will help to focus on the reasons that may result in traditionally formed under-consumption of aquatic bioresources by the population of Ukraine.

Traditional public administration was mainly applied in the period when the welfare state was dominant. The new public management approach is a conception systematic shaped within the framework of neoliberal thought and limiting the state. Policies were implemented to reduce public expenditures and public employment, with privatization coming into prominence, and to increase efficiency in deregulation and provision of public services. In this study, the basic policies in the Tenth and Eleventh Development Plans are evaluated based on the new public management approach. The points that draw attention to public administration in the plans can be listed as the importance given to privatization, accountability, and financial localization. It can be pointed out that the goals and the policies envisaged in public management in both plans emphasize the new public management approach. In the empirical analysis part of the study, the effect of the added value created in the state-owned enterprises on the growth rates of the agriculture and industry sectors is investigated. In this context, cointegration with ARDL bound test and causality with Toda - Yamomoto between these variables in the period of 1985-2017 were examined. According to the results, the added value of state-owned enterprises increased the growth rate of the agricultural and industrial sectors and the presence of a long-term positive relationship between the variables was determined.

The development of the Hungarian Public Administration’s personnel management has been deeply impacted by the on-going global reinterpretation of the general role and significance of HR in government departments, and by the simultaneous paradigm shift in civil service. Meaning, that on the one hand Human Resources Management has become a strategic partner to leadership in human-oriented organisational development. It is able to aid the interpretation of challenges and the aim of policy reforms, planning, execution and evaluation of changes, impact assessment and reporting. On the other hand, organisational decision-making has been gaining significance, while at the same time, the centralized legal regulation has become less relevant in HRM does questions due to the deregulation of human resources management in civil service.. This tendency puts a higher emphasis on HR Knowledge Exchange Systems and knowledge-sharing methods. The HR Knowledge Exchange System and Expert Network plans with the aim of providing online and offline support to HR professionals in public administration in order to improve their HR knowledge and competencies of both offline (project-based events) and online (via Online Forum) professional communities. Combined, the HR Knowledge Exchange System and Expert Network provides support to HR professionals primarily through granting access to an online academic research database with upto- date content, forum discussions as well as face-to-face counselling in a way that fits the requirements of the current tendencies of the reorganisation process of HR functions. It also contributes to the implementation of the ‘Healthy Organisation Model’ in practice.

PurposeThe purpose of this paper is to evaluate the technical efficiency and production risk in China's rice production and examine the effect of factor market reform on these two agricultural performance metrics.Design/methodology/approachUsing an unbalanced farm-level panel data with 2,193 observations on 329 rice farms from 2004 to 2016, the authors estimate a translog stochastic production frontier model that accounts for both technical inefficiency and production risk. A one-step procedure through the maximum likelihood method that combines the stochastic production frontier, technical inefficiency and production risk functions is used to circumvent the bias problem often found in the conventional two-step model.FindingsEstimation results show that both land and labor market reforms significantly improved the level of technical efficiency over the years, although the effect of land market deregulation is of a much higher magnitude compared to the latter. The land market reform, however, has also increased the risk of production. The authors further find that a higher proportion of hired labor in total labor cost helps lower production risk, while also acting to decrease technical efficiency. Additionally, agricultural subsidies not only increased the output variability but also lowered technical efficiencyOriginality/valueFirst, the authors evaluate the effect of market deregulation on technical efficiency and production risk under a stochastic frontier framework that simultaneously accounts for both production performance metrics, which is important from a statistical point of view. Further, the authors exploit both cross-sectional and time-series variations in a panel setting to more accurately estimate the technical inefficiency scores and production risk for individual farmers, and investigate how the exogenous land and labor market reforms influence these two production performance measures in China's rice farming. This is the first study in the literature to analyze these questions under a panel framework.

El presente trabajo de investigación tiene como objetivo determinar los efectos del dumping en la competitividad de las empresas de confecciones de prendas de vestir en el Emporio Comercial de Gamarra que iniciaron sus operaciones en el año 2016 y determinar cómo afecta el dumping en el crecimiento, posicionamiento y la utilidad de dichas empresas. Se partió de la hipótesis de que el dumping afecta negativamente en la competitividad de las empresas de confecciones de prendas de vestir; la desregulación normativa sobre el dumping y el inadecuado control que se pueda ejercer para el ingreso de este tipo de mercancías, fueron las causas para que algunos importadores encuentren la oportunidad para ingresar mercancías con precios dumping. El método de investigación fue descriptivo y explicativo en base a la información obtenida que nos permitió responder las interrogantes planteadas. Los resultados muestran que ambas variables tienen una estrecha relación positiva, ya que un alto riesgo del dumping generará una baja competitividad. Luego de la investigación se concluye que el ingreso al Perú de mercancías con precios por debajo del precio del producto similar en el país de fabricación destinado al consumo en el país exportador, afecta negativamente en el crecimiento empresarial del sector de confecciones de prendas de vestir, en el posicionamiento del mercado tanto interno como externo, así como en la utilidad que pueda percibir la empresa; obteniéndose como resultado el desempleo de los trabajadores, la reducción en la capacidad productiva, reducción en la capacidad competitiva, quiebra de las empresas de confecciones, cierre de fábricas del rubro afectado, y todo ello genera una desestabilidad económica en nuestro país; por tanto, se necesita una mayor participación del Estado en la regulación y el control de este tipo de productos, para de este modo proteger nuestra industria nacional.

PurposeThis study explores how the firm’s proprietary information has an impact on the bank loan contracts. It explains the propensity of using the competitive bid option (CBO) in the syndicate loans to solicit the best bid for innovative firms and how it changes based on industry competition and the degree of innovations. This research also examines how the interstate banking deregulation (Interstate Banking and Branching Efficiency Act) in 1994 affected the private loan contracts for innovative borrowers.Design/methodology/approachThe study uses various econometric analyses. First, it uses the propensity score matching analysis to see the impact of patents on pricing terms. Second, it uses the two-stage least square (2SLS) analysis by implementing the litigation and non-NYSE variables. Finally, it studies the impact of the policy change of the Interstate Banking and Branching Efficiency Act of 1994 on the bank loan contracts.FindingsFirms with more proprietary information pays more annual facility fees but less other fees. The patents are the primary determinants of the usage of CBO in the syndicate loans to solicit the best bid. While innovative firms can have better contract conditions by the CBO, firms with more proprietary information will less likely to use the CBO option to minimize the leakage of private information and the severe monitoring from the banks. Finally, more proprietary information lowered the loan spread for firms dependent on the external capital after the interstate banking deregulation.Originality/valueThe findings of this research will help senior executives with responsibility for financing their innovative projects. In addition, these findings should prove helpful for the lawmakers to boost economies.

That nuclear arms control is on the way out is no news. The unraveling of its Cold War-era architecture started almost two decades ago, when US President George W. Bush welcomed Vladimir Putin to h...

Despite external and domestic pressures seeking liberalization and privatization, Ethiopia, until recently, maintained a highly centralized, vertically integrated, single service provider model of ...

Theories of endogenous markups, firm entry, and innovation consistently predict a positive relationship between barriers to competition and firm-level innovation, in stark contrast to a large empirical literature that documents a negative relationship. I argue that this puzzle can be resolved by considering two distinct types of barriers – barriers to starting a firm, and barriers to competing in a product market. Barriers to starting firms discourage startups, resulting in higher markups, higher market shares, and more innovation. Barriers to product-market entry also increase market shares within each market, and thereby encourage innovation. But firms also enter fewer markets, which discourages innovation. On net, market-entry barriers decrease firm-level innovation and the number of competitors per market, while increasing the number of firms per industry. To test the implications of the theory, I consider an episode of product market deregulation (the Single Market Programme in the E.U.), and find that lower market-entry barriers indeed resulted in fewer firms. Interpreted through the lens of the model, I estimate that productivity increased by 8.4% in deregulated industries, and show that this estimate would be 30% lower if deregulation was mistakenly modeled as lowering firm startup costs. Across countries, I provide evidence that market-entry barriers are quantitatively much more important than startup barriers. As evidence for the central mechanism in the model I show that across countries, higher market-entry barriers are associated with fewer products per firm.

The article considers the impact of the COVID-19 coronavirus pandemic, as the most important factor of medium- and long-term changes, on the development of small and medium enterprises in Ukraine. It is clarified that due to the introduction of forced measures to limit certain activities related to quarantine, an entrepreneurship sector suffers the greatest losses, which plays a crucial role in the accumulation of crisis processes in the economy, including the pre-default state of business entities. It is substantiated that the lack of adaptive state support in Ukraine can lead to a reduction of almost a third of gross value added, employment and tax revenues from this segment. Based on the systematization of risks, trends in the global business environment development and other structural changes related to quarantine restrictions, new priorities of business strategies and directions of state support for entrepreneurship sector have been determined. The object of the study is a small and medium business development in the conditions of the COVID-19 pandemic and in the post-quarantine period. The purpose of the study is the priorities of development and support of entrepreneurship determining in Ukraine for recovery accelerating in the context of the coronary crisis. The research methodology involves the use of empirical research methods (observation, comparison and description), theoretical knowledge (formalization) and general research methods (analysis, systematic approach, statistical methods). The practical results of the study include the current priorities for support and development of entrepreneurship identification in the context of the coronary crisis. The article proposes to reduce government interference in the activities of economic entities, to ensure a systematic reduction of corruption behavior in connection with an expansion of state support at the beginning of the crisis, increase the accessibility of SMEs to financing, expand the opportunities for foreign economic activity, and accelerate digital transformations.

After the liberalization regime of 1991, the major policy changes undertaken regarding overseas investment, such as, industrial deregulation and trade liberalization, led to major changes in the Indian economy. This leads to increase competence in Indian investors to compete on a global level on a sustained basis. The paper intends to drag attention towards the composition of outward foreign direct investment (OFDI) from India. It also examines the competition for Indian overseas investment among different sectors. Indian overseas investment in manufacturing sectors is getting the utmost importance, followed by service sectors in different country groupings from 2008 to 2019, using the rank dominance index.

In recent years, various governments in Nigeria have continued to give priority to private sector development as a strategy for self-reliance industrialization. This study examines financial sector deregulation, private sector credit and aggregate economic performance in Nigeria. The main objective of the study is to determine whether financial sector deregulation has helped in stimulating the impact of private sector credit on aggregate economic performance in Nigeria for the period 1982-2018. Data on the growth rate of real GDP, financial depth, private sector credit, prime lending rate and gross fixed capital formation were the variables used in the study. A dummy variable was also used as a proxy for financial deregulation. ARDL approach was adopted to estimate the data set. The empirical results show that there is cointegration between aggregate economic performance and independent variables; private sector credit has a negative and significant impact on aggregate economic performance; and that financial sector deregulation has been able in stimulating the impact of private sector credit on aggregate economic performance in Nigeria, though, not satisfactorily because of policy inconsistency. It is therefore recommended that to achieve vibrant private sector-driven economy, the government and the policymakers should strengthen the supervisory ability of the regulatory bodies to ensure that the funds approved for private sector investment are channeled to the sector.

Publicly listed firms respond to capital supply conditions shaped by local investing preferences. Public firms headquartered in areas with higher proportions of senior citizens and women use more debt financing. These demographics are associated with conservative investing, leading to a higher and more stable local supply of debt capital. The demographics–leverage relation is more pronounced for firms that cannot easily tap public bond markets, which is the majority of public firms. Changes in firms’ financing activities around exogenous shocks to credit supplies, including interstate banking deregulation and the 2008–2009 financial crisis, support the local capital supply hypothesis.

In the last two decades, many European countries allowed the sale of over‐the‐counter (OTC) drugs outside pharmacies. This was expected to lower retail prices through increased competition. Evidence of such price reductions is scarce. We assess the impact of supermarket and outlet entry in the OTC drug market on OTC prices charged by incumbent pharmacies using a difference‐in‐differences strategy. We use price data on five popular OTC drugs for all retailers located in Lisbon for three distinct points in time (2006, 2010, and 2015). Our results suggest that competitive pressure in the market is mainly exerted by supermarkets, which charge, on average, 20% lower prices than pharmacies. The entry of a supermarket among the main competitors of an incumbent pharmacy is associated with an average 4% to 6% decrease in prices relative to the control group. These price reductions are long‐lasting but fairly localized. We find no evidence of price reductions following OTC outlet entry. Additional results from a reduced‐form entry model and a propensity score matching difference‐in‐differences approach support the view that these effects are causal.

The nature and role of social housing across the European States is growing more diverse every decade. From the wide range of social housing as a percentage of total housing stock, the many different housing options provided, to the vast array of housing allocation mechanisms and differing levels of equity delivered by such mechanisms, social housing across Europe presents an increasingly complex social challenge. As such a one-size-fits-all solution to these challenges is unlikely to present itself, and researchers are therefore forced to focus on the specifics of a region or state—this is the case with this study. Within the UK, Housing Associations (HAs) have played a fundamental role within successive government social housing policies for at least three decades. However, through a succession of legislative changes, welfare reform and the deregulation of their non-profit social role, HAs have been fundamentally challenged, and are now exposed to competition from private registered providers. This study poses the overarching research question; what role does performance management play in the transition to a competitive hybridised social housing sector? Exploring this question, the paper analyses the effect of this transition through institutional isomorphism and considers specifically how a sample of English HAs sense uncertainty within the social housing sector and respond to the coercive, normative, and mimetic isomorphic pressures at play. This study finds the primary mechanism by which HAs appear to sense and respond to external changes within the sector is through their strategic performance measurement systems and metrics. Social, political, and competitive changes in the sector are ‘sensed’ as a misalignment within the existing strategic performance metrics, exerting isomorphic pressures on the organisational governance team to respond by realigning the performance metrics with the sensed changes. In this way, we posit that strategic performance measurement is linked to and plays a much more pivotal role, in the hybridisation of third-sector organisations than previously reported within the literature. Examples of such realignment include the increased use of benchmarking performance as a normative practice, and the replication of perceived best practice from the private sector to remain competitive and sustainable. Such changes reflect on an increasingly hybridised position for HAs, which now focus on improving business-critical activities, rather than simply producing performance data as a means of demonstrating good governance and compliance to their regulatory body.

A core policy goal of the Trump administration has been rolling back or weakening regulations designed to protect workers, consumers, the environment, and general public health from known corporate harms. These rollbacks constitute the most far-reaching effort to free corporate capital from regulatory restraint since the onset of corporate regulation at the dawn of the 20th century. We propose that blending state–corporate crime and public health frameworks can help us better understand and analyze the short- and long-term impacts of the current rollback regime. We also propose that the regulatory rollbacks currently underway create conditions for an increase in state-facilitated corporate crimes that will result in excess deaths, avoidable illnesses and injuries, and a degradation of public health. We provide specific examples involving deregulatory acts regarding water, air, labor, and food, concluding with a call for a public health criminology and an openly democratic, evidence based, and discrimination-free system for minimizing the harms of corporate profit-seeking.

The general housing policy trend in Europe has been towards neoliberalization meaning less state involvement in housing market and less government support for housing production. However, private rental markets are still regulated in many European countries. Here, we classify 33 European countries based on rent regulation system and welfare state regime. There seems to be some but not too much correspondence between the welfare state regime and whether rents are controlled. However, it seems that the role of rent regulation depends on the context and one should take a closer look at specific cases. We look at Nordic welfare states that are similar in that all represent the social democratic welfare model but different in their housing regimes by which we mean the basic principles of how housing provision in the country is organized.