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This study investigates (1) whether democratization drives sovereign credit ratings (SCR) changes (the “democratic advantage”) or whether SCR changes affect democratization, (2) whether the degree of democratization in sub-Saharan African (SSA) countries affects the associations and (3) whether the associations are significantly affected by resource dependence.

This study investigates the effects of SCR changes on democracy in 22 SSA countries over the period of 2000–2020 VEC Granger causality/block exogeneity Wald tests, and impulse responses and variance decomposition analyses with Cholesky ordering and Monte Carlo standard errors in a panel VECM framework.

The full sample impulse responses find that a SCR shock has a long-run detrimental effect on the democracy and political rights but only a short-run positive impact on civil liberties. Among the sub-samples, it is found that the extent of natural resource dependence does not affect the magnitude of SCR shocks on democratization mentioned above but it is found that a SCR shock affects long-run democracy in SSA countries that are relatively more democratic but is more likely to drive democratic deepening in less democratic SSA countries. The full sample variance decompositions further finds that the variance of SCR to a political rights shock outweighs the effects of all the macroeconomic factors, whereas in more diversified SSA countries, the variances of SCR are much greater for democracy and political rights shocks, which suggests that democratization and political rights in diversified SSA economies are severely affected by SCR changes. In the case of the high and low democracy sub-samples, it is found that the variance of SCR in the relatively higher democracy sub-sample is greater than in the low democracy sub-sample.

These results have three implications for democratization in SSA. First, the effect of a SCR change is not a democratically agnostic and impacts political rights to a greater extent than civil liberties. Second, SCR changes have the potential to spark a negative cycle in SSA countries whereby a downgrade leads to a deterioration in socio-political stability coupled with increased financial economic constraints that in turn drive further downgrades and macroeconomic hardship. Finally, SCR changes are potentially detrimental for democracy in more democratic SSA countries but democratically supportive in less democratic SSA countries. Thus, SSA countries that are relatively politically sophisticated are more exposed to the effects of SCR changes, whereas less politically sophisticated SSA countries can proactively shape their SCRs by undertaking political reforms.

This study is the first to examine the associations between SCR and democracy in SSA. This is critical literature for the Africa’s scholarly work given that the debate on unfair rating actions and claims of subjective rating methods is ongoing.

This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.

A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.

The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.

Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.

A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.

This study investigated the moderating role of democracy in the relationship between corruption and foreign direct investment. The purpose of this study is to understand whether corruption has different effects on the location decisions of multinational enterprises (MNEs) depending on the regime type.

This study explored how institutional context influenced the impacts of corruption on the location decisions of MNEs, specifically using a sample of Chinese cross-border mergers and acquisitions between 2000 and 2020.

This study assessed the role of democracy in the relationship between corruption and the location decisions of Chinese MNEs. In general, this study found that Chinese MNEs were hindered by host country corruption, but that these detrimental effects were weaker in the presence of more effective democratic institutions.

This study contributes to the literature on institutional factors in international business through its simultaneous investigation of the effects of both democracy and corruption on the location decisions of MNEs. Moreover, there is a prevailing view that Chinese MNEs are willing to enter countries with high corruption, but the results of this study indicate that they are risk-averse in ways similar to their Western counterparts.

The purpose of publishing this viewpoint is to critically analyze the relationship between public health interventions and individual liberties, during recent and potential future pandemics. By exploring the interplay of the right to health, privacy, and autonomy, this viewpoint seeks to highlight the complexities and challenges faced by decision-makers in balancing collective well-being with the protection of individual rights. Through detailed discussions on lockdowns, contact tracing, and international border closures, this paper aims to foster a deeper understanding of how these measures impact fundamental human rights and proposes ways to achieve harmony in future pandemics and crises.

The viewpoint has a qualitative approach, using critical analysis and examination of legal frameworks, scholarly literature, and real-world examples to explore the interplay between public health interventions and individual liberties during pandemics. It draws upon diverse sources, including international declarations, legal instruments, and empirical studies to elucidate the complexities of balancing collective well-being with the protection of fundamental human rights. Through in-depth discussions on lockdowns, contact tracing, and international border closures, this paper aims to provide a comprehensive understanding of the challenges and opportunities in harmonizing public health with individual liberties.

The findings of the viewpoint highlight the relationship between public health interventions and individual liberties during pandemics. It underscores the importance of balancing collective well-being with the protection of fundamental human rights, particularly the right to health, privacy, and autonomy. The analysis reveals the shortcomings of certain measures, such as restrictive lockdowns, border closure, and unchecked contact tracing in respecting individual rights. However, it also identifies opportunities for adopting an altruistic approach that upholds both public health imperatives and individual freedoms. Ultimately, the findings emphasize the need for a nuanced understanding and inclusive approach to crisis management.

This analysis predominantly addresses the COVID-19 pandemic, potentially limiting the generalizability of findings to other public health crises. It is limited by its focus primarily on legal frameworks and theoretical analysis, which may not fully capture the practical complexities and nuances of implementing public health measures. Furthermore, while proposing ways to achieve harmony between public health and individual liberties, practical challenges and potential trade-offs in implementation are not extensively explored. Future research could benefit from empirical studies and case analyses to better understand the real-world implications of balancing public health imperatives with individual rights.

The viewpoint underscores the importance of adopting an altruistic approach that respects both public health imperatives and individual rights during pandemics. Practical implications include the need for policymakers to prioritize transparency, accountability, and citizen engagement in implementing public health measures. By fostering trust, ensuring data privacy, and promoting active participation, authorities can mitigate concerns about infringements on individual liberties while effectively managing public health threats. Furthermore, the analysis highlights the importance of considering diverse perspectives and potential trade-offs in decision-making processes to achieve a balanced and inclusive approach to crisis management.

The viewpoint’s social implications lie in building a society where public health measures are implemented with respect for individual rights, fostering trust, and promoting community engagement. By prioritizing transparency, accountability and inclusivity, authorities can mitigate social tensions and promote collective resilience during pandemics. Moreover, upholding principles of equity and fairness in crisis management can help address disparities and ensure that vulnerable populations are not disproportionately affected. Overall, the viewpoint advocates for a societal framework that values both public health and individual liberties, thereby contributing to the development of a more cohesive and resilient society in the face of future health crises.

The originality and value of this viewpoint lie in its comprehensive exploration of the interplay between public health interventions and individual liberties during pandemics. By synthesizing legal frameworks, scholarly literature, and real-world examples, it offers unique insights into the complexities and challenges faced by decision-makers in balancing collective well-being with the protection of fundamental human rights. Additionally, the viewpoint’s proposal of an altruistic approach that respects both public health imperatives and individual freedoms contributes to the discourse on ethical crisis management. Overall, it provides valuable perspectives and recommendations for achieving harmony between public health and individual liberties in future pandemics.

This chapter on anti-racism struggles applies an anti-racist activist framing, both critically examining and recognising the milestones achieved through centuries of pro-justice and anti-racism struggles. It delves into the arduous journey that the global fight for racial equity has undergone and highlights the significant progress as well as setbacks experienced during this lengthy struggle. The earliest history of the fight against racial oppression and domination goes back to anti-slavery and anti-colonial movements. Scholars have analysed the emergence, development and state of global anti-racism struggles in a variety of ways. I approach this subject from a sociological perspective, highlighting the role of social structures, groups and institutions that have contributed to shaping the outcomes of anti-racist initiatives. While recognising the role of individuals and leading political activists, this chapter emphasises anti-racism as a collective social justice struggle. To do this, I explore various local and global anti-racism endeavours and examine how they may influence discussions on race, racism and racial equity and their evolving trajectories across different societies.

This study explores the relationship between economic freedom and gender ideologies on the allocation of women’s opportunity-to-necessity entrepreneurship across countries. Opportunity entrepreneurship is typically understood as one’s best option for work, whereas necessity entrepreneurship describes the choice as driven by no better option for work. Specifically, we examine how economic freedom (i.e. each country’s policies that facilitate voluntary exchange) and gender ideologies (i.e. each country’s propensity for gendered separate spheres) affect the distribution of women’s opportunity-to-necessity entrepreneurship across countries.

We construct our sample by matching data from the following country-level sources: the Global Entrepreneurship Monitor’s Adult Population Survey (APS), the Fraser Institute’s Economic Freedom Index (EFI), the European/World Value Survey’s Integrated Values Survey (IVS) gender equality index, and other covariates from the IVS, Varieties of Democracy (V-dem) World Bank (WB) databases. Our final sample consists of 729 observations from 109 countries between 2006 and 2018. Entrepreneurial activity motivations are measured by the ratio of the percentage of women’s opportunity-driven total nascent and early-stage entrepreneurship to the percentage of female necessity-driven total nascent and early-stage entrepreneurship at the country level. Due to a first-order autoregressive process and heteroskedastic cross-sectional dependence in our panel, we estimate a fixed-effect regression with robust standard errors clustered by country.

After controlling for multiple macro-level factors, we find two interesting findings. First, economic freedom positively affects the ratio of women’s opportunity-to-necessity entrepreneurship. We find that the size of government, sound money, and business and credit regulations play the most important role in shaping the distribution of contextual motivations over time and between countries. However, this effect appears to benefit efficiency and innovation economies more than factor economies in our sub-sample analysis. Second, gender ideologies of political equality positively affect the ratio of women’s opportunity-to-necessity entrepreneurship, and this effect is most pronounced for efficiency economies.

This study offers one critical contribution to the entrepreneurship literature by demonstrating how economic freedom and gender ideologies shape the distribution of contextual motivation for women’s entrepreneurship cross-culturally. We answer calls to better understand the variation within women’s entrepreneurship instead of comparing women’s and men’s entrepreneurial activity. As a result, our study sheds light on how structural aspects of societies shape the allocation of women’s entrepreneurial motivations through their institutional arrangements.

Introduction: As Internet usage increases, so does widespread concern about surveillance and privacy. While most of the research primarily focuses on a particular digital setting, these problems cut beyond national boundaries and impact economies everywhere.

Purpose: This study critically analyses the Data Protection Bill 2019’s effectiveness within the context of surveillance and privacy in India’s digital economy. Investigating critical provisions of the bill, comparing it to international privacy laws and standards, and identifying potential gaps and weaknesses, this study provides insights into the bill’s ability to protect personal data and limit surveillance practices.

Methodology: The chapter is based on secondary sources of data, including academic articles, government reports, and news articles on the topics of surveillance, privacy, and the Data Protection Bill 2019 in India, involving content and critical discourse analyses.

Findings: The Data Protection Bill 2019 evaluation reveals a set of provisions with the overarching intent to safeguard citizens’ privacy worldwide and curtail undue surveillance practices exercised by both governmental bodies and private enterprises. Intricately delineates the entitlements of individuals concerning their data, encompassing vital aspects such as the right to access, rectify, and erase their data, the bill mandates stringent adherence to the principle of explicit consent when collecting and processing personal data.

Nevertheless, a comprehensive analysis also reveals several gaps and constraints inherent in the bill’s framework. One such area is the inclusion of exemptions for governmental entities, an aspect that raises international concerns regarding potential disparities in data protection practices.

The Covid-19 pandemic has persisted for almost three years. States have since then enforced laws, policies and measures believed to be the most effective to handle the global pandemic. Along this line, the Indonesian Government opted to implement mandatory vaccination and refusal of which entails monetary penalties. Hence, this study aims to analyze two legal issues that touch upon the realm of International Human Rights Law: first, whether state has the authority to implement the said mandatory vaccine program to those who refuse to be vaccinated, and second, how is the more appropriate legal policy to obligate vaccination but without coercive sanction.

This is a normative legal research that uses a qualitative method with case studies, conceptual, historical and comparative approaches. A descriptive-analytical deduction process was used in analyzing the issue.

The results present, as part of state’s right to regulate, it has the authority to enact mandatory vaccination with monetary penalties to fulfil its obligation to protect public health in times of emergency; this is legal and constitutional but only if it satisfies the requirements under the International Human Rights Law: public health necessity, reasonableness, proportionality and harm avoidance. Alternatively, herd immunity is achievable without deploying unnecessary coercive sanctions, such as improving public channels of communication and information, adopting legal policies that incentivize people’s compliance like exclusion from public services, subsidies revocation, employment restrictions, higher health insurance premiums, etc.

This study analyzes in depth the following issues: of whether the government has the authority to apply mandatory vaccination laws enforced through monetary penalties for those who refused to be vaccinated and how does the government implement the appropriate legal policy to enforce mandatory vaccination without imposing penalties for non-compliance while maintaining a balance between the interests of protecting public health and the human rights of individuals to choose medical treatment for themselves, including whether they are willing to be vaccinated. Hence, the political affairs, economic matters and other non-legal related issues are excluded from this study.

This paper hence offers a suggestive insight for state in formulating a policy relating to the mandatory vaccination program. Although the monetary penalties do not directly violate the rule of law, a more non-coercive approach to the society would be more favorable.