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Governments in many countries have deregulated the retail pharmacy market to offer easier and broader access to pharmacy services. Such deregulation has spurred the competition by allowing the entry of new drug distribution channels. Current research leverages the Pharmaceutical Affairs Law revision introduced in South Korea in November 2012. The policy change allowed 24-hour convenience stores to sell 13 first-aid drugs directly to patients. This research investigates the causal effect of new retailers’ entry on incumbent pharmacies’ financial performance in terms of pricing, revenue, and market exit. The findings, based on the panel data of 2,795 pharmacies in a 36-month period from 2011 to 2013, suggest deregulation posed a significant competitive threat to incumbent pharmacies, resulting in lower average prices for the deregulated drugs, significant drops in revenue and accelerated financial failures. A significant heterogeneity in the treatment effect is found across pharmacies. Pharmacies with less loyal customers and poorer financial performance suffered more after deregulation. Our findings suggest that although such deregulation is intended to enhance consumers’ access to health care, opening the OTC drug market to new retailers may hamper consumers’ access to pharmacy services because of the exit from the market of underperforming incumbents.

We examine how the cost of issuing equity affects bank lending. Using the SEC deregulation that allowed exchange listed firms with public float less than $75 million to raise equity via shelf registrations as a quasi-natural experiment, we show that the affected banks increase mortgage lending relative to control banks. Furthermore, we find that MSAs with more lending from affected banks experience higher house price growth rates than other MSAs.

The artificial gorilla troops method is utilized in the tilt integral derivative (TID) controller that is discussed in this paper in order to adorn the load frequency control (LFC) in the restructured thermal-hydal system. The controller is implemented in simulink. In this study, a mathematical definition of the social life of gorillas and innovative methods for exploring and exploiting gorilla habitats are presented. By applying step load perturbations and using integral square error as the evaluation method, the dynamic properties of the system can be determined. It is clear that the newly developed method of optimizing artificial gorilla troops performs better than the grey-wolf optimization technique (GTO). In this paper, the TID controller and the proportional integral derivative (PID) controller are contrasted with regard to a variety of optimization strategies inorder to compare different power transcations.

This study aims to determine whether Government Regulation Number 64 of 2016 deregulates regional legal products related to the construction of low-income communities (MBR). This study uses a normative juridical approach as well as a qualitative approach by processing and analysing legal materials. Based on the results of the research and discussion, it can be concluded that Government Regulation Number 64 of 2016 has influenced the existence of regional regulations relating to housing development permits by reducing the validity of licensing provisions for MBR housing development. In other words, the government has carried out an executive review/administrative review through repressive supervision with the presence of this government regulation which delays the validity of a number of housing development permits for certain conditions.Key Word: Government Regulation, Deregulation, Housing, Low-Income Communities AbstrakPenelitian ini bertujuan untuk mengetahui apakah Peraturan Pemerintah Nomor 64 Tahun 2016 melakukan deregulasi terhadap produk hukum daerah yang berkaitan dengan pembangunan rumah Masyarakat Berpenghasilan Rendah (MBR). Penelitian ini menggunakan metode pendekatan yuridis normatif serta pendekatan kualitatif dengan pengolahan dan analisis bahan hukum. Berdasarkan hasil penelitian dan pembahasan dapat disimpulkan bahwa Peraturan Pemerintah Nomor 64 Tahun 2016 telah mempengaruhi eksistensi peraturan daerah yang berkaitan dengan perizinan pembangunan perumahan dengan mereduksi keberlakuan ketentuan perizinan bagi pembangunan perumahan MBR. Dengan kata lain, pemerintah telah melakukan executive review/administrative review melalui pengawasan represif dengan hadirnya peraturan pemerintah ini yang menunda keberlakuan sejumlah perizinan pembangunan perumahan untuk kondisi tertentu.Kata-kata Kunci: Peraturan Pemerintah, Deregulasi, Perumahan, Masyarakat Berpenghasilan Rendah

This paper analyses two differing approaches to the improvement of local bus services, using the analytical lens of formal and informal institutions. Both formal and informal institutions govern the behaviour of authorities and operators, but they do it in different ways and they have advantages and disadvantages. In so doing we seek to understand both how the informal institutional approach (e.g. voluntary partnership working) can be used effectively, but also to assess its limits; and to understand why a formal institutional approach (e.g. franchising), in spite of its strong underlying basis in law, may nonetheless not always function. Through doing so, this paper contributes to the current understanding of how to handle the unintended consequences of a deregulated market through the different (formal and informal) ways available.

This chapter examines the British policy towards the North Atlantic Alliance. The United Kingdom has always been unambiguous in its position on NATO. London helped to establish the Alliance in 1949 and ever since has striven to be its most important European ally. In consequence, the United Kingdom has provided a significant material contribution to NATO missions and command and sees itself as at the forefront of debates on NATO strategy and purpose. With rare exception (the case of Scottish nationalism), NATO membership is beyond question in domestic politics—and the Alliance has never obtained the same controversial status as the European Union. UK foreign and defence policies retain pretensions towards global influence, evidenced in the 2021 Integrated Review of Security, Defence, Development and Foreign Policy. High standing within NATO is one means by which that influence is to be exercised. The United Kingdom has also traditionally seen NATO as an essential bridge in its relationship with the United States, and this is even more so after Brexit. For London, transatlanticism is key to the Alliance, but this has, at times, created tensions with Paris and occasionally with Berlin. Overall, the chapter portrays the United Kingdom as being amongst NATO’s most stalwart and reliable allies and predicts that this is likely to remain so for the foreseeable future.

Aviation management is a broad field of science that encompasses all kinds of managerial and operational processes, generally in the safe transportation of passengers and cargo within the aviation industry. However, this branch of science, which is still very young in the history of science, acts as a catalyst in the economy by adding high added value to the world trade volume. This sector, which gained momentum with the liberalization period after 1980, has an ecosystem in which strong organizational structures can hold. With its key functions such as safety management, human resources management, marketing management, and financial management in terms of its scope, it needs a visionary perspective with a working area within the airport management network. From this point of view, understanding the development processes of the field in the literature and revealing its relationship with other variables will provide a systematic and holistic perspective to the related literature. For this purpose, the bibliometric analysis method was used in this study, which was conducted in the field of aviation management. The study covers a process, especially from the liberalization period to the present. The purpose of this study in the field of aviation management is to create a perspective on the aspects in which the field offers mobility, the development, quality, and quantity of the process. In this context; In this content; Studies in the field of aviation management were taken from WEB of Science (VOSviewer). Word cloud and keyword maps were created covering the distribution of the studies by years, the authors who contributed the most to the field, the institutions, and journals according to the number of publications, and the languages used in the publications. The contribution levels of the studies to the literature and the areas in which the subject interacts are explained.

This paper provides a critique of the development of international environmental law, showing the influence of ideologies of classical liberalism, welfarist liberalism and neoliberalism on key legal texts. Sharing the assumptions of critical approaches to law and applying a methodology in line with ideology critique, this paper is aimed at deconstructing the prevailing Western understanding of the positive evolution of international environmental law towards better environmental protection. First, it describes the classical liberal understanding of nature and concepts to address environmental problems before World War II through the example of fisheries agreements. Second, it moves to the influence of welfarist liberalism on international law following World War II, which gave rise to several environmental instruments, especially marine pollution agreements, and later the Stockholm Declaration. Third, it looks at the conceptual shift under the influence of neoliberalism that occurred in the 1990s in the Rio Declaration as well as in the biological diversity and climate change regimes. As the paper shows, instead of changing the problematic understandings of nature in international law, international environmental law relies on these liberal classical understandings and further exacerbates the instrumentalization of nature with the focus on economic rationality, and favouring cost-benefit analysis, deformalization of law, deregulation and self-regulation by private actors, management by experts, and market mechanisms to address environmental problems., Le présent article propose une critique du développement du droit international de l’environnement, en montrant l’influence des idéologies du libéralisme classique, du providentialisme et du néolibéralisme sur des textes juridiques-clés. Partageant les postulats des approches critiques du droit et appliquant une méthodologie s’inspirant de la critique des idéologies, cet article vise à déconstruire la compréhension occidentale dominante de l’évolution positive du droit international de l’environnement vers une meilleure protection de l’environnement. Premièrement, il présente la conception libérale classique de la nature et ses concepts visant à résoudre les problèmes environnementaux avant la Seconde Guerre mondiale, à travers l’exemple des accords de pêche. Deuxièmement, il passe à l’influence du providentialisme sur le droit international après la Seconde Guerre mondiale, qui a donné lieu à plusieurs instruments environnementaux, notamment les accords sur la pollution marine et, plus tard, la Déclaration de Stockholm. Troisièmement, il examine le changement conceptuel sous l’influence du néolibéralisme, qui s’est produit dans les années 1990 dans la Déclaration de Rio ainsi que dans les régimes gouvernant la diversité biologique et les changements climatiques. Comme le montre cet article, au lieu de modifier les conceptions problématiques de la nature dans le droit international, le droit international de l’environnement s’appuie sur ces conceptions libérales classiques et exacerbe l’instrumentalisation de la nature en mettant l’accent sur la rationalité économique et en favorisant l’analyse coûts-bénéfices, la déformalisation du droit, la déréglementation et l’autoréglementation par les acteurs privés, la gestion par les experts et les mécanismes de marché pour solutionner les problèmes environnementaux.

With the publication of the latest policy review of ACC, Accident Compensation 1995, the question of deregulating injury insurance in New Zealand has once again come to the fore. Action on ACC legislation, although openly acknowledged by all commentators as a necessity, has been slow in coming due to disagreement about the basic premises of rights, entitlements and institutional arrangements and an uncertain balance of power in Parliament. The present article examines the debates around deregulation and efficiency, the principles of "no fault" and "no right to sue", and the failure of the current regulatory regime.

What we understand as informality existed a long time before the term was coined. For a better understanding of the phenomenon, it is necessary to trace the origins of those activities that over time have been carried outside the legal system that formally defines the modern nation-state. The article seeks to articulate the contemporary informal phenomenon to other ways of existing outside the law that have their origin in colonial regimes, characterized by the need to implement parallel government and legal systems. It is about understanding informality as a phenomenon typical of postcolonial situations and proposing ways out from that reading., Lo que entendemos como informalidad existía mucho antes de ser acuñado el término, para un mejor entendimiento del fenómeno resulta necesario rastrear los orígenes de aquellas actividades que a través del tiempo se han realizado al margen del ordenamiento legal que define formalmente al estado-nación moderno. El artículo busca articular el fenómeno informal contemporáneo a otros modos de existir al margen de la legalidad que tienen su origen en los regímenes coloniales, caracterizados por la necesidad de implementar sistemas de gobierno y legales paralelos. Se trata de entender la informalidad como un fenómeno propio de las situaciones postcoloniales y proponer salidas desde esa lectura.

Purpose Mutual fund investors assess a fund manager’s skills when allocating their capital. To identify the rationale behind retail investors’ decisions, this study aims to examine the relation between mutual fund flows and abnormal returns (alpha), as well as the various risk factors in the Japanese mutual fund market, which has distinctive characteristics regarding investors and distributors. Design/methodology/approach Six standard asset pricing models are used to investigate how investors assess mutual fund managers’ skills: the market-adjusted return, the capital asset pricing model and the Fama–French three-factor model and its augmented versions. Findings Contrary to the literature, this study finds that investors in Japan mainly rely on alpha to assess mutual funds. In particular, investors respond to alpha for fund inflows and their evaluations depend on the market environment and their mutual fund search costs. Originality/value This study measures the response of investors to the skills of mutual fund managers in the Japanese market – especially for funds purchased through bank-related distributors that have aimed to capture inexperienced retail investors since deregulation in the 1990s – and reveals their high response to alpha.

— The changes in the world economy since the early 1990s, such as the globalization of financial and commodity markets, deregulation of the financial sector, and its growing role in the economy, have led to significant changes in the real estate market, traditionally one of the most conservative markets. The process of financial institutions’ entering the top players in the real estate market is most commonly referred to in various researches as financialization. In the last decade, this trend has been supplemented by processes associated with disruptive technologies that have emerged within the rapidly developing fintech industry and offer a number of mechanisms that make investing in real estate (crowdfunding), using real estate (sharing), and turnover of digital choses in action secured by real estate assets (tokenization) significantly more democratic. As a result, the excess of the total capitalization of the financial component of the market (including the growing digital share) over the total value of real estate assets can exceed reasonable limits and become an independent cause of another crisis similar to the 2006–2008 crisis in the United States.

The article defines the priorities of the social policy of Ukraine at the present stage. The socio-economic problems of Ukraine are analyzed, their causes and solutions are identified. It is shown that the main reason for the failures of the socio-economic policy of independent Ukraine is the uncritical attitude of Ukrainian reformers to the consequences of neoliberal policies in other countries, as a result of which foreign experience of socio-economic reforms began to be introduced without taking into account domestic specifics. The decline in the role of the state in socio-economic policy, the increase in the role of private business, the privatization of "everything and everyone" led to a sharp social stratification, an economic crisis, which became a trigger for crises in all spheres of Ukrainian society. One of the fundamental principles of neoliberal economics, deregulation, has also collapsed. It turned out that the market is not efficient in areas in which the business cannot make quick and large profits. The so-called "market failures" demonstrated the need for state regulation in the spheres of education, health care, ecology, etc. Conclusions of the study and prospects for further research in this direction. Thus, if the new government really wants to build a successful country of happy people, it must make social and economic policy its top priority. Its primary tasks at the present stage should be: reduction of tariffs for utilities by eliminating from them the corruption component and excess profits of suppliers; revision of the principles of granting subsidies for utility bills. Exclusion from the number of subsidies of those who do not need state aid, but have a formal right to receive it (they work unofficially); the fight against the shadow economy, with the concealment of income from taxation; reforming the system of wages and pensions; creation of jobs with decent wages; establishing interaction between the state and private business in order to increase the social responsibility of the latter.

Liberalization and deregulation process started in 1991 has made lot of changes in the banking system. From a totally regulated environment, banking institutions have moved into a market driven competitive system. Changes gained momentum in the last few years. Globalization would gain greater speed in coming years particularly on account of expected opening up of financial services under WTO. Four trends changed the banking industry world over, viz, consolidation of players through mergers and acquisitions, globalization of operations, development of new technology, and universalisation of banking. Keywords: Consolidation, Banking industry, HR challenges, consequences, solutions

This article investigates the impact of cost difference on vertical collusion between a container port and a liner from the perspective of a shipping container transport chain, taking the deregulat...

У статті на основі аналізу наукових джерел та останніх законодавчих змін досліджуються основні види контролю за використанням та охороною земель в Україні. Проведено деталь- ний аналіз дієвості та ефективності державного та громадського контролю у цій сфері. Автором проаналізовано положення Закону України «Про внесення змін до деяких зако- нодавчих актів України щодо вдосконалення системи управління та дерегуляції у сфері земельних відносин» у контексті внесених цим Законом змін до законодавчих актів щодо регулювання відносин у сфері контролю за використанням та охороною земель. Аргументовано неузгодженість Закону України «Про внесення змін до деяких законодав- чих актів України щодо вдосконалення системи управління та дерегуляції у сфері земель- них відносин» з конституційними принципами формування повноважень органів місцевого самоврядування та участі громадянського суспільства в управлінні державними справами. Обґрунтовано необхідність вдосконалення земельного законодавства України у сфері конт- ролю за використанням та охороною земель в Україні. У результаті проведеного дослідження автор доходить висновку, що прийняття Закону України «Про внесення змін до деяких законодавчих актів України щодо вдосконалення сис- теми управління та дерегуляції у сфері земельних відносин» не усунуло недоліки правового регулювання відносин у сфері використання та охорони земель, зокрема, щодо концентрації в одного і того ж суб’єкта владних повноважень – Держгеокадастру, управлінських, конт- рольних та наглядових повноважень у сфері земельних відносин. У висновках автор зауважує, що перспективою подальших наукових розробок у напряму порушених проблемних питань може бути використання отриманих результатів у наступних дослідженнях для удосконалення правового регулювання відносин у сфері використання та охорони земель для реформування системи державного управління та дерегуляції у сфері земельних відносин.

Introduction: in the Russian scientific literature, the concepts of “mechanism”, “mechanism of deregulation” concerning specific means of reducing the body of laws are used quite widely, but the theoretical construction of this phenomenon is currently not developed, and therefore the purpose of the study is to determine the correctness of such word usage and at the same time – the legal nature of “mechanisms of deregulation”. The methodological framework for the study is a set of methods of scientific knowledge, among which the main ones are the method of analysis and the system method. Results: the correctness of the use of the term “deregulation” is determined, the tools for reducing the body of laws are correlated with the orthodox concepts of “legal means” and “mechanism of legal regulation”, the structure of the “mechanism of deregulation” is presented, and the definition of this concept is formulated. Conclusions: it is concluded that the instruments of reducing the body of laws are by their nature legal means, and their system can be recognized as a mechanism with some reservations: the means of deregulation are quite special in comparison with the means of law-making itself, and therefore, if they are included in the mechanism of law-making, then as a very separate group; however, to date, the Russian Federation has not developed a full-fledged system of means of deregulation: most of the related means operate in very separate branches of law, there is a duplication of means of deregulation, and there are no established links between them. In this regard, it is possible to talk about the mechanism of deregulation as a potentially right-to-life phenomenon, but not really existing in domestic law.

In recent years, converting office buildings to residential use became a high-profile issue in the UK and in the Netherlands. There has, however, been differentiation in the policy response between...

El proceso de descentralización fiscal en Colombia, determinada por la descentralización hacia el mercado, tiene una relación intrínseca con las políticas de apertura económica que pueden ser rastreadas desde finales de la década de los años 60 del siglo XX, en la que se evidencia como el aumento del gasto derivado de las políticas de descentralización fiscal conllevaron a la adopción de políticas enfocadas en la liberalización y desregulación de la economía. Todo esto en sincronía con la puesta en marcha de la Modernización del Estado en Colombia. Este proceso genera un aumento de la opresión fiscal de corte indirecto y regresivo en el país y una pérdida de derechos del pueblo colombiano a partir de los postulados de eficiencia y eficacia impartida por el mercado, los cuales han evidenciado todo lo contrario al no comprender la descentralización atada a las relaciones sociales, económicas, culturales y políticas en el país que han generado una captura del Estado con procesos de corrupción, detrimentos patrimoniales y baja responsabilidad en la prestación de los servicios públicos y los derechos sociales.

The rapid evolution of sensor technologies and communication networks is tightly coupling the cyber and physical layers of power systems. Because a few power grids have fallen victim to cyber intrusions causing unexpected device failure and large-scale power outages, enhancing power system cybersecurity is the utmost focus of power grid development today. Financially, the deregulation of the electricity market opens the gate to profit-oriented cyberattacks. Real-time market auctions rely heavily on the accuracy of state estimation, which is susceptible to cyberattacks. Extensive reviews have been conducted on modern power system cybersecurity. However, the lack of a comprehensive and in-depth review of electricity market cyberattacks prevents independent system operators from systematically analyzing the financial consequences of cyberattacks and limits public awareness of the significant monetary loss. This article briefly summarizes previous review works and analyzes the two-settlement market design from a cybersecurity perspective. Then the current achievements of electricity market cyberattacks are discussed, and state-of-the-art works are analyzed based on their contributions. Additionally, a few possible improvements and future directions are presented.

This article investigates the effects of air transport liberalisation on economic freedom and air connectivity, and the extended effects on economic development. A PLS path modelling estimator, applied to annual data for 52 countries over the period 2011–2019, shows that aviation liberalisation promotes economic freedom and improves air connectivity. The results also reveal that the economic contribution of air transport liberalisation varies across African countries and regions, relative to their levels of economic freedom and air connectivity. It is concluded that removing barriers to trade using air transport, combined with institutions that support economic freedom and the quality of air connectivity, may foster countries’ economic development.

The COVID-19 pandemic has created economic crises and considerable loss of employment throughout the world. In the Australian context, social distancing restrictions and business closures contributed to a dramatic increase in unemployment, with 780,000 people losing work within weeks of the first COVID-19 outbreaks. Job losses were concentrated in casualised industries such as retail, recreation, arts and culture, hospitality, and accommodation. We examine policy discourses framing independent work, entrepreneurial workers and flexible work relations as essential for ‘economic recovery’, where this means business flexibility, productivity and future economic prosperity. We draw on these framings to show how the equation of flexible work relations and productivity underpins the Australian Government’s response to unemployment caused by the pandemic, as reflected in policy announcements and proposed changes to industrial relations law. In these proposals, constructions of ‘job creation’ and ‘economic recovery’ rationalise industrial relations changes that further empower business, through conflating public and business interest. At the same time, ensuing labour market deregulation and the changing profile of business renders the very idea of ‘jobs’ tendentious.

The regulation of housing quality has a long history in England. As the state itself increasingly became a housing developer in the twentieth century, design standards were subject to self-regulation. Through this, the idea that housing quality includes minimum dwelling sizes - space standards - has entered public consciousness. The 2010-2015 coalition government introduced suggested space standards through planning control, but also extended the range of 'permitted development' - a form of deregulation - where space standards could not be applied. In this paper we explore the history of space standards in England and what these tell us about planning regulation.

The Electricity Demand Prediction (EDP) and Generation Expansion Planning (GEP) make a real-world planning problem more optimal. In this study, the EDP problem has been solved using the optimizatio...

The profit-based unit commitment is a maximisation problem, which consists of the revenue minus costs subject to related constraints. However, with increasing concerns for the global warming, envir...

Unlike many other countries, Britain had a weak private rented sector (PRS) in decline for most of the twentieth century. A revival began from the turn of the millennium. The platform for this rebi...

Do political liberals support or oppose zoning changes that allow more market-rate development? I use survey data from California and show that liberals are ambivalent. The ambivalence is explained...

The research examined interest rate deregulation and the performance of deposit money banks in Nigeria for the period of 1989-2020. The objective of the study is to examine the impact of interest rate deregulation on the performance of deposit money banks in Nigeria and to examine the causal relationship between interest rate deregulation and performance of deposit money banks in Nigeria. The estimation output of the research shows a positive relationship between interest rate and bank performance in Nigeria measured by Total Assets of Deposit money banks in Nigeria. The coefficient of determination (67%) also shows above average explanatory power of the independent variables on the dependent variable. The results of the study show a long and short run relationship between the dependent variable (Total Assets) and the independent variables (Interest rate, inflation rate, loans and advances). The result also shows unidirectional causality between Total Assets and Loans and Advances. The research recommended among others that the CBN should consider not frequently changing the MPR (monetary policy rate) and CRR (Cash reserve ration) which most of the time influence interest rate peg of the deposit money banks.

Tanulmányomban a közszolgálati minták, modellek kialakulásával, jellemzőivel, a mintaadó és mintakövető országok közötti kapcsolattal, valamint az EU-tagállamok személyzeti rendszereinek fejlődési trendjeivel foglalkozom. Ez utóbbi kapcsán vizsgálom az átmenet folyamatát a karrierrendszerekből a munkaköri rendszerekbe, valamint közjogi deregulációt. Abból a szempontból kategorizálom az egyes országokat, hogy milyen irányba fejlődnek, s az átmenet melyik szakaszában tartanak. Az országok vizsgálatához felhasználtam a Nemzeti Közszolgálati Egyetem Közszolgálati jogi és HR komplex kutatóműhelye (közszolgálati kutatóműhely) által 2018-ban végzett kutatás eredményeit, amelyeket kiegészítettem a cseh Belügyminisztérium 2020-ban készített összehasonlító elemzésével.

Purpose Deregulation of domestic markets and the liberalization of international markets have dramatically changed air transportation. One of the important results of this change is the environmental effects of air transportation. This study aims to examine the implications of air transportation on environmental sustainability in the context of airline business strategies in liberalized and globalized air transport industry. Design/methodology/approach The paper discusses the relationship between liberalization, airline strategies and environmental sustainability of air transportation using the related literature. Then, to show some environmental impacts on the axis of the relationship discussed, emission rates for the aircraft landing and take-off phase were calculated on a global basis based on the aircraft traffic. Findings The discussion in the paper shows that the liberalization policies and the strategies of airlines supported by these policies, in essence, contradict the environmental sustainability of air transport. Considering the flight share projections of EUROCONTROL for different aircraft types on a global basis and the World Bank’s global flight traffic forecast for the years 2016 and 2025, it has been demonstrated that the number of aircraft departures will increase by 30%, whilst the number of aircraft emissions will increase by 41.5%. Practical implications Airlines are one of the main actors that will play a role in reducing the environmental impacts of air transportation. Therefore, this study is important in giving an idea to both policymakers and airline managers on how airline companies’ strategies should be shaped to realize both corporate sustainability and environmentally sustainable air transportation. Originality/value There are many studies in the literature regarding the environmental effects of air transport. However, there are not many studies linking environmental impacts with airline strategies that directly affect air transport demand. This study is different in that it gives environmental sustainability by associating it with its root causes.

We develop a microfounded macroeconomic model that embeds the key features of the Greek economy. After calibrating the model to Greek data over 1995–2019, we assume that the economy is initially in the year 2019 and then quantify the adverse economic impact of the lockdown measures taken to control the spread of the pandemic, as well as the implications of the various policy measures (at national and EU level) taken to cushion the impact of the economic hit. We give quantitative answers to questions like: What will be the size and duration of the economic downturn? What are the implications of the national fiscal stimulus? What will be the role of the fiscal transfers coming from the European Recovery Fund? Our results imply that the national fiscal stimulus package adopted so far is helpful but, for the Greek economy to enter an era of sustainable growth, a mix of policies is also needed that combines: (i) a growth-enhancing fiscal mix (ii) product market deregulation (iii) a socially productive use of the resources coming from the Recovery Fund.

In 2015, the China Insurance Regulatory Commission initiated a liberalization reform in the automobile insurance industry to grant insurers more discretion in policy design, underwriting, and ratemaking. The deregulation intended to increase competition and choices for the consumer, yet there was little scientific evidence on how the insurance market responded to the reform. This article examines the effectiveness of this deregulation reform in China. Leveraging a large industry dataset of more than 7 million automobile insurance policies from 63 major automobile insurers operating in China, we study policyholders’ switching behavior among insurance providers. To better understand the heterogeneity in the impact of deregulation on market performance and consumer choice, we further analyze the switching pattern among different types of insurers according to the insurer's size, the company’s business structure, the jurisdiction’s market power, and the customer’s risk type. Overall, the empirical results suggest that the reform has met its original goal, leading to higher market competition, and more diversified consumer choices. We further confirm that the average premium dropped significantly after the reform for all three jurisdictions implementing the reform, yet the insurers’ pricing strategy was risk type dependent, i.e., the average premium for the high-risk customers increased, while the average premium for the low-risk customers decreased substantially.

The paper aims to summarize and analyze the statistical data on the generation structure and price behavior in the Russian electric power industry and, based on the analysis, make a statistical contribution to the discussion on the outcomes of the electricity reform in Russia. A brief review of this topic is provided. The study states that the electric power industry should be regarded as a combination of four sub-industries when regulation, market design, and industrial organization problems are discussed. These four sub-industries are generation, transmission, distribution, and sales because of different regulations applied to these businesses. The main trends in the retail price index and some other indexes in the four sub-industries are observed from 2009 to 2018. The trends in electricity consumption and generation structure are discussed as essential components of economic processes in the industry. The findings suggest that the four sub-industries make different contributions to the overall growth of the electricity supply costs for end consumers. Most growth was determined by regulated government-granted monopolies in network businesses (transmission and distribution companies). The sales business is represented in the research by suppliers of last resort.

This paper draws upon the experience of mainly women workers in the Bangladeshi apparel industry to explore whether deregulated bodies are the fundamental condition of work in the global production network (GPN). We organised the study during the first waves of Covid-19. To conceptualise how ‘deregulated bodies’ have been structured into the industry as the exchange condition of work, we draw on the work of transnational feminist and Marxist scholars. The study provides insights about how a gendered GPN emerged under the neoliberal development regime; the pattern of work and work conditions are innately linked to volatile market conditions. By documenting workers’ lived experiences, the paper enhances our empirical understanding of how workers depend upon work, and how a form of expendable but regulated life linked with work has been embedded in GPN. Our findings reveal that unlike those of other human beings, workers’ bodies do not need to be regulated by norms that enable protection from Covid-19. As for the workers, work implies earning for living and survival, so ‘live or be left to die’ becomes the fundamental employment condition, and the possibility of their death an overlooked consideration. This reality has not changed or been challenged, despite the existence of compliance regimes. We further argue that as scholars, we bear a responsibility to consider how we engage in research on the implications of such organisation practices in a global environment, when all of us are experiencing the pandemic.

Purpose The purpose of this paper is to analyze the level and forms of advertising in the French telecommunications sector between 1952 and 2002 in order to understand the transformation of the leading organization in the sector and its succesful adoption of increasingly sophisticated practices. The context of increased market orientation is examined to investigate how such practices emerge. Design/methodology/approach Extensive historical study of primary source material and secondary sources was conducted to develop acomparison of three eras. For each era, major changes in relation to advertising and promotional practices are identified along with key contextual elements to understand the relative importance of internal or external influences on the adoption of market-oriented practices. Findings Initially, advertising and promotional practices studied were introduced gradually within the state-run organization (1952–1973). They subsequently became increasingly important and systematic (1974–1985) before finally becoming those of a modern organization (1986–2002) in the competitive sphere. In addition to single institutional messages aimed at either consumer or business markets, more abstract forms of communication were used over time and publicity was increasingly targeted at different segments.The French telecommunications sector was aware of the necessity to engage in advertising and promotional activities prior to the existence of competition in its main consumer market. Adoption of such customer-oriented practices was more pronounced initially in the business segment. Advertising and promotional activities to consumers became increasingly significant as the administration modernized and developed innovative services. This growth in promotion and in its sophistication accelerated within the new competitive environment following deregulation and, in particular, with the growth of the mobile sector. Both the external environment and internal organizational transformations thus need to be taken into account when analyzing growing adoption of advertising and promotion. Originality/value This systematic study of the introduction of advertising and promotional practices in the French telecommunications sector highlights how public organizations can introduce practices linked to market orientation. In the organization studied, the fact that increased advertising and promotional activity was driven by organizational transformation in the second of the three eras studied indicates the importance of investigating internal influences and external factors such as competition.

In the framework of international politics, the economic dimension has a central role in relations between countries. The economic dimension, particularly investment, is a determinant factor and often becomes a global measure in achieving national development. This has also become President Jokowi's big ambition since he came to power in Indonesia. Various investments were brought in in the framework of national development and the implementation of the Nawa Cita ideals. The foreign policy which is very inclined to attract investors continues. Deregulation of domestic policies was also carried out in order to welcome investment. However, in fact, the investment that Jokowi brought and carried out did not change the lives of Indonesian people. Economic growth predicted to skyrocket has actually stagnated in the 5 years of his reign. The absorption of labor has also decreased. Not to mention other problems caused by the investment made.

The banking landscape has undergone a paradigm shift from welfare oriented banking to profit oriented banking over a period of three decades. The deregulation has completely transformed a very complexion of commercial banks in the early nineties. Prior to deregulation syndrome, the customers were given short shrift in the social sector banking era. The customers were made to run from pillar to post to get an ordinary personal loan. Only those who can afford to offer security were made eligible for big ticket loans. The borrowers had to wait endlessly for various types of consumer loans. The customers in the current era of liberalized environment are enjoying the privilege of choosing their banks in terms of various considerations. The main objectives of the study is to examine the current customer relation strategies adopted in Indian Banks, to identify the deficiencies in the existing customer satisfaction variables which lead to Bridge the customers and the bank, to study the difference in perception of the customers of the bank toward various services provided by bank and to analysis the satisfaction level of customer services provided by the bank. The survey reveals that assenters are satisfied in most of the aspects and they want to continue with their respective banks. So now if the banks use proper strategies to overcome the shortcomings faced by customers, the banks can easily build a strong relationship and that will allow the bank to earn profit in the competitive environment.

The study seeks to explore the need for deregulation of the downstream sector of the Nigerian petroleum industry and to address the various inefficiencies in the sector to promote adequate supply of petroleum products in Nigeria. The aim is to enhance efficiency in the sector through institutional and regulatory reforms, to promote healthy competition by making reference to the experiences of other relatively advanced jurisdictions to refocus and strengthen Nigeria's downstream Petroleum sector's regulations. The work adopts a conceptual approach relying on extant literature with the application of the doctrinal legal research method. The study also makes use of primary and secondary sources of laws such as statutory and judicial authorities. A key finding is the overbearing presence of the federal government in the sector and inappropriate pricing of petroleum products which have made the sector unattractive to investors to establish private refineries that will guarantee adequate supply of petroleum products and fair returns on their investments due to excessive regulation.

Industrialisation in its true sense began in India only after her independence in 1947. It has been a long journey since then. Initially, for about four and half decades since 1947, based on the Import-substitution strategy, Indian industry functioned in a highly regulated and protected environment dominated by the public sector. However, a paradigm shift occurred in India’s industrialisation strategy in the early 1990s as a new policy regime aimed at opening up and deregulation of Indian industry was adopted to facilitate the growth of competition. While the Indian industry has been functioning according to this policy regime for the last three decades, new issues have started to emerge. The paper attempts to unravel the cause and consequence of the process of industrialisation that has unfolded in India over the last seven decades and tries to analyse the challenges confronting the Indian industry at present and suggest the policy initiatives that could tackle them.

The development of the Digital Economy in the last decade has become increasingly prominent and significant. The dynamics and transactions of the Digital Economy span from the corporate to household levels, from local to global scales. The use of advanced information technology in the internet field paved the way for the Digital Economy, especially in the financial or financial realm. This reality is directly correlated with the current of financialization of contemporary capitalism which has strengthened as one of the main features of Neoliberal capitalism since the 1980s.This study seeks to analyze the operation of the Digital Economy in the financial sector such as Venture Capital or Financial Technology within the framework of Political-Economy, particularly through the study of International Political Economy. The author believes that the birth and development of the Digital Economy can be understood in two aspects, namely, first, it is directly correlated with the financialization of global capitalism, especially since the current of Neoliberalism emerged in the decade of the 80s. Financial liberalization and deregulation that started in the United States became the starting point for international economic financialization. Changes to the model of transactions and financial products are a direct derivation of financial deregulation initiated by developed countries and global capitalists.Second, technological development is a reflection of the historical development of capitalism. This means that technology in the Digital Economy has a social character and aims to optimize the accumulation of contemporary capitalism. Digital Economy Technology is not independent of social and economic-political formations or entirely as a result of the inherent creativity of the natural impetus of scientific progress.

Recent research maintains that the observed productivity variation across firms reflects resource misallocation and concludes that large GDP gains may be obtained from market-liberalizing polices. Our theoretical analysis examines the impact on productivity dispersion of reallocation frictions in the form of costs of entry, operation, and restructuring, and shows that reforms reducing these frictions may raise dispersion of productivity across firms. Contrary to conventional wisdom, the model does not imply a negative relationship between aggregate productivity and productivity dispersion. Our empirical analysis focuses on episodes of liberalizing policy reforms in the US and six East European transition economies. We find that deregulation of US telecommunications equipment manufacturing is associated with increased, not reduced, productivity dispersion, and that every transition economy in our sample shows a sharp rise in dispersion after liberalization. Productivity dispersion under communist central planning is similar to that in the US, and it rises faster in countries liberalizing more quickly. We also find that lagged productivity dispersion predicts higher future productivity growth, likely because dispersion reflects experimentation by both entering and incumbent firms. The analysis suggests there is no simple relationship between the policy environment and productivity dispersion.

Este artículo está dedicado a formular la pregunta: ¿Cuáles son los impactos de los cambios en la educación que las políticas neoliberales están implementando en el Sur Global? En este sentido, también busca investigar cuál es el concepto de Educación en las políticas neoliberales en la actualidad, si todavía es educación lo que proponen estas reformas. También busca establecer caminos para una educación efectiva frente a las políticas neoliberales. Sostiene que el neoliberalismo es una forma refinada de imperialismo que tiene en la educación uno de sus campos más privilegiados de atención: la transformación del acceso a la educación en mercancía. Para responder a la pregunta planteada, se analizan las experiencias de Chile, Brasil y Sudáfrica, países que, de diferentes maneras, se vieron afectados en las últimas cuatro décadas por reformas educativas neoliberales. A partir de la experiencia de estos países, se puede ver que las reformas neoliberales en el Sur Global han creado barreras para que las poblaciones, especialmente las más pobres, disfruten de los derechos formales que habían ganado en el mismo período de la apertura política y el fin del Apartheid, haciendo uso del recurso imperialista de la inculcación de que las reformas mismas comprendieron y comprenden el camino sin retorno de la globalización, el trípode de desregulación, descentralización y privatización, y la transformación de todas las relaciones en productos para obtener ganancias.

Мета. Провести оцінку найбільш важливих діючих регуляторних рішень АТ «Укрзалізниця» в сфері тарифної політики щодо надання послуг з організації перевезень вантажів залізничним транспортом, зокрема тих, які прийняті в рамках політики дерегуляції вагонної складової. Методика. При проведенні дослідження було використано методи порівняльного аналізу, системно-структурний, узагальнення, економіко-статистичний. Результати. Проведено оцінку найбільш важливих діючих регуляторних рішень АТ «Укрзалізниця» в сфері тарифної політики щодо вантажних залізничних перевезень, що прийняті в рамках політики дерегуляції вагонної складової та мають вплив на суб’єктів господарювання, насамперед, основних вантажовласників, та власне АТ «Укрзалізниця», що є суб’єктом господарювання державного сектора. Практична значимість. По кожному регуляторному рішенню надано рекомендацію, врахування якої дозволить досягнути певного балансу інтересів в сфері тарифної політики щодо вантажних залізничних перевезень між АТ «Укрзалізниця» та основними вантажовідправниками. Всі рекомендації викладено у висновках. Вказані результати мають ознаки наукової новизни.

Since deregulation of the currency market in 1986, the Ghanaian economy has been bedevilled with persistent depreciation of the Cedi; forcing currency redenomination in 2007. The Ghana Cedi (GH¢) which traded at 0.94 to the US Dollar (USD) immediately after the redenomination has since lost so much value, and currently trades at almost GH¢6 to the USD. While the relationship between exports and import, and currency volatility is theoretically established, the empirical relationship has been varied and observed to be country-specific as well as skewed in favour of currency variation shocks to trade. This study used econometric modelling to assess the reverse i.e., impact of exports and imports on exchange rate in Ghana using monthly data from 2005M1-2019M3. The results show that while merchandise exports impact real effective exchange rates negatively, merchandise imports impact it positively. Notwithstanding that both were observed to be persistent, the magnitude of their impact on exchange rate differ, with import shocks being steeper than export shocks. The study concludes that for an import-dependent economy such as Ghana, imports may not necessarily occasion negative outcomes on REER, since majority of imports also serve as inputs into major production processes.

A pesar de la importancia que tiene la educación jurídica en el fortalecimiento del Estado de derecho, en Colombia se ha investigado poco sobre este tema. Este artículo se propone ayudar a remediar ese vacío analizando la educación jurídica colombiana a la luz de los casos de Alemania, Estados Unidos y México. El modelo de educación jurídica alemán se caracteriza por una fuerte regulación estatal; el estadounidense, por los fuertes controles por parte de la profesión, y el mexicano, por la desregulación y el predominio del mercado. Colombia tiende a parecerse a este último modelo. El artículo plantea que la actual educación jurídica colombiana no es una fatalidad, sino el producto de opciones concre- tas que elegimos hace décadas. Esas opciones han sido con frecuencia nocivas, pero son reversibles si aprendemos de las lecciones valiosas de los modelos de otras latitudes.

The theory of regulatory capture has long been used to make the case for deregulation by questioning the legitimacy of government’s regulatory function. How do government officials, who are tasked with regulating, embrace deregulation? This article explores that question in the context of Boston’s debate over regulating transportation network companies (TNCs). Analyzing media coverage, I identify two types of frames that emerged as stakeholders attempted to influence TNC regulation: issue frames aimed to shape the interpretation of the ride-for-hire industry, while meta-frames shifted the focus of debate from TNCs to regulation itself. Specifically, a meta-frame invoking the theory of regulatory capture became central. Supplementing media coverage with in-depth interviews, I show that government officials did not refute the capture frame but rather used this frame to draw a distinction between legitimate and illegitimate regulation. I propose that these distinctions are central to legitimizing a deregulatory agenda, as officials condemn specific types of regulation in order to shore up the broader category of regulation. The case sheds light on how the idea of government as an impediment to innovation is embraced by government officials themselves, paving the way for new market configurations.

In Britain, employment protection legislation developed in ways far more dynamic, contradictory and toothless than is commonly assumed by conventional theories. Contrary to prevailing understanding...

Oil theft in the Niger Delta, where the Nigerian economy derives its mainstay, has now acquired the front burner in oil and gas scholarly discourse because of the alarming regularity of the scourge. Several perspectives have emerged in the narratives particularly in the ideological spectrum, but there appears to be conflicting policies directed toward combating the challenge of theft. This paper, which adopts the doctrinal research methodology, examines the twin issues of deregulation and security for the critical assets—the oil installations and pipeline facilities. While government investigation panels, that have critically studied the problems, have advised for deregulation, the State appears to be treading the opposite line of retaining the commanding heights and engaging militants and natives in securing the assets. This approach has not encouraged private initiatives and indigenous technology transfer but has put the State on the defensive and therefore requires shift.

BACKGROUND The Chinese government removed the price ceiling of most drugs in June 2015 to establish a market-driven pricing system. The purpose of this study is to examine the impact of the elimination of drug ceiling price (EDCP) policy on drug prices. METHODS Using a national macro-level dataset, we employed an interrupted time series method to study the abrupt level and gradual trend changes of Chinese and Western medicine consumer price index (CPI) between June 2014 and June 2017. RESULTS The policy exerted level change on Chinese medicine CPI, increasing 0.201% (95% CI 0.026% to 0.376%, p = 0.026). And the trend in Chinese medicine CPI was still decreased nonsignificantly after the EDCP policy. However, there was no significant price change in Western medicine. CONCLUSION The EDCP policy has different effects on the prices of Chinese and Western medicines. Therefore, we need to pay more attention to the drug pricing mechanism in the future.