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Article
Publication date: 19 June 2017

Joon-heon Song

The purpose of this study is to explore the essential cause for the policy failure of Trade Adjustment Assistance (TAA) in South Korea.

Abstract

Purpose

The purpose of this study is to explore the essential cause for the policy failure of Trade Adjustment Assistance (TAA) in South Korea.

Design/methodology/approach

To substantiate the claims made for the failure of the policy, this paper focuses on the differences in policy preferences among the government ministries and agencies involved in TAA.

Findings

The failure in the TAA policy, according to this study, was attributed to the conflicts and miscoordination arising from the differences in policy preferences among government ministries and agencies. To rectify this failure, the South Korean government had to revise its laws and regulations several times over a short period.

Originality/value

Drawing on the analytical framework of the literature on policy failure, this paper examines the causal relationships between outcomes of TAA policy and the conflicts or miscoordination among government bodies at each stage: initiatives and planning, implementation and operation of the policy.

Details

Journal of International Trade Law and Policy, vol. 16 no. 2
Type: Research Article
ISSN: 1477-0024

Keywords

Article
Publication date: 10 August 2015

Zouheir Malki, Daoud Ait-Kadi and Mohamed-Salah Ouali

The purpose of this paper is to investigate age replacement policies for two-component parallel system with stochastic dependence. The stochastic dependence considered, is…

Abstract

Purpose

The purpose of this paper is to investigate age replacement policies for two-component parallel system with stochastic dependence. The stochastic dependence considered, is modeled by a one-sided domino effect. The failure of component 1 at instant t may induce the failure of component 2 at instant t+τ with probability p 1→2. The time delay τ is a random variable with known probability density function h p 1→2 (.). The system is considered in a failed state when both components are failed. The proposed replacement policies suggest to replace the system upon failure or at age T whichever occurs first.

Design/methodology/approach

In the first policy, costs and durations associated with maintenance activities are supposed to be constant. In the second replacement policy, the preventive replacement cost depends on the system’s state and age. The expected cost per unit of time over an infinite span is derived and numerical examples are presented.

Findings

In this paper and especially in the second policy, the authors find that the authors can get a more economical policy if the authors consider that the preventive replacement cost is not constant but depends on T.

Originality/value

In this paper, the authors take into account of the stochastic dependence between system components. This dependence affects the global reliability of the system and replacement’s periodicity. It can be used to measure the performance of the system et introduced into design phase of the system.

Details

Journal of Quality in Maintenance Engineering, vol. 21 no. 3
Type: Research Article
ISSN: 1355-2511

Keywords

Article
Publication date: 1 April 2000

Michael Vineyard, Kwasi Amoako‐Gyampah and Jack R. Meredith

This paper presents the results of a case/simulation study that evaluated a number of potential maintenance policies for a flexible manufacturing system (FMS). Empirical…

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Abstract

This paper presents the results of a case/simulation study that evaluated a number of potential maintenance policies for a flexible manufacturing system (FMS). Empirical data were used to structure the operation of the FMS, and to simulate its failures and repairs on the shop floor. Five maintenance policies – corrective, 30‐day preventive, 90‐day preventive, on‐failure opportunistic, and 30‐day opportunistic – were compared on four performance criteria: equipment utilization, machine downtime, through‐put, and average flow time. The “30‐day opportunistic” policy performed best overall, although the “corrective” policy was a close second, outperformed only in the area of equipment utilization. The “on‐failure opportunistic” policy performed poorly on every measure of system performance.

Details

International Journal of Operations & Production Management, vol. 20 no. 4
Type: Research Article
ISSN: 0144-3577

Keywords

Book part
Publication date: 3 December 2018

Predrag Rajsic and Glenn Fox

Several governments in Canada have made commitments to adopting evidence-based policy development. Several obstacles to the adoption of this approach have been identified…

Abstract

Several governments in Canada have made commitments to adopting evidence-based policy development. Several obstacles to the adoption of this approach have been identified in the policy literature. However, this literature has lacked an economic perspective. This is unfortunate, since economics has produced the most fully developed normative theory of government policy in the social sciences and humanities. The main elements of this theory are the theory of market failure and the theory of non-market failure, and the integration of those two elements in what Charles Wolf called implementation analysis. The Austrian economics tradition also offers the implications of what is often called Hayek’s knowledge problem and the lessons learned from the economic calculation debate as contributions to the understanding of the challenges facing the application of evidence-based policy. The authors propose adding four economic elements to the current model of evidence-based policy development: (1) providing sufficient and convincing evidence that a market failure has occurred; (2) providing sufficient and convincing evidence that a non-market failure is unlikely to occur or if it does occur the damages from the non-market failure will be less serious than the harm resulting from the market failure; (3) an appreciation of the distributed and conflicted character of social knowledge; and (4) the technical challenges involved in constructing a social preference order. The authors illustrate the application of the economic approach to evidence-based policy with an example from rural land use policy in Ontario.

Book part
Publication date: 27 February 2009

Kamphol Panyagometh and Gordon S. Roberts

Using a two bank, two-period game-theoretic model, this chapter shows that contingent purchase and assumption policy under which the choice of acquirer for a failed bank…

Abstract

Using a two bank, two-period game-theoretic model, this chapter shows that contingent purchase and assumption policy under which the choice of acquirer for a failed bank is contingent on the surviving banks’ risk-taking behavior is generally most effective in reducing moral hazard problems, particularly for countries with low levels of competition and high regulatory barriers. Moreover, we find that to minimize the probability of future bank failures, the choice of acquiring bank should be based not only on the short-term goal of resolving the insolvencies of financial institutions, but also on the long-term effects of ex ante risk-taking incentives.

Details

Research in Finance
Type: Book
ISBN: 978-1-84855-447-4

Article
Publication date: 25 September 2009

Martijn Poel and Linda Kool

The purpose of this paper is to explore how innovation has become more important in information society policy and what the implications are for policy design, policy

1413

Abstract

Purpose

The purpose of this paper is to explore how innovation has become more important in information society policy and what the implications are for policy design, policy coordination and policy evaluation.

Design/methodology/approach

Against the background of European information society policy, a case study is done on the policy mix for ICT innovation in The Netherlands. A highly structured qualitative methodology is developed to analyse the relevant policy instruments in information society policy and innovation policy. The methodology includes a typology for rationale, policy instruments and element of the innovation process.

Findings

To a large extent, information society policy and innovation policy are complementary. There is some overlap between policy instruments. The rationale and objectives can be more explicit. The policy mix had a positive impact on information communication technology (ICT) knowledge, broadband and e‐government.

Originality/value

The paper presents the relevance, methods and results of a detailed study on the intersection of two policy fields: information society policy and innovation policy.

Details

info, vol. 11 no. 6
Type: Research Article
ISSN: 1463-6697

Keywords

Article
Publication date: 5 June 2017

John Collins

The purpose of this paper is to examine the role of civil society in the recent history of drug policy reform. It focuses on the UN drug control system, which is designed…

Abstract

Purpose

The purpose of this paper is to examine the role of civil society in the recent history of drug policy reform. It focuses on the UN drug control system, which is designed to regulate certain “scheduled” or listed substances internationally. It provides new light on recent reformist discourses and strategic agendas and how they related to the reality of UN politics and international relations. It questions the idea that the UN General Assembly Special Session on Drugs (UNGASS) in 2016 was a failure in terms of outcomes. It concludes by suggesting that the true outcomes of the UNGASS process will initially be obscured by the complexity of national-international drug policy dialectics, but may eventually prove more tangible and enduring than proposed formal systemic reforms.

Design/methodology/approach

The paper examines the historical role of civil society in the UN drug control system. It highlights that although civil society played a key role in the early formation of the system, this role diminished over time as the system professionalised. Meanwhile, as a new reformist movement emerged in the 1990s challenging the status quo, the paper traces this movement through the early UNGASS process, the decline of the reformist era and the eventual UNGASS outcomes. It concludes with a critical evaluation of civil society strategies and the relationship between idealistic strategies and the realities of national and international politics.

Findings

Rather than a failure of outcomes, UNGASS represented a failure of assumptions, strategic vision and ultimately expectations on the part of reform optimists. These groups ultimately created and became captive to a goal of formal systemic reforms, or treaty revisions, underpinned by a dogmatic assumption of “the inescapable logic of reform necessity”. This logic argued that highlighting treaty “breaches” and contradictions would be a sufficient condition to drive a formal UN system-wide re-evaluation of drug control. These failures of strategic assumptions and vision ultimately resulted in the sense of “failure” of UNGASS 2016.

Research limitations/implications

This research highlights the need to critically evaluate civil society strategies and desired outcomes with an eye to history, international relations and the realities of managing a complex global issue. The application of mono-causal explanations for individual state actions or international cooperation is shown to be vastly insufficient to explain, plan for or predict the outcomes of a complex multilateral framework. Furthermore, this paper highlights a research agenda on the role of civil society in drug policy formation and how this relates to the current policy and advocacy groupings among member states and interest groups at national and international levels.

Practical implications

This paper highlights a more realistic appraisal of the determinants of and possibilities to change international drug policy. It thereby utilises an impressionistic historical narrative of the UNGASS process to enable an evaluation of the frontiers of policy reform at the UN level and provide some guidance on the failures of past strategies and potential future directions of international drug control and reformist strategies.

Social implications

As highlighted in this paper, drug policy is an area where major policy failures are recognised within the current international approach. Experimentation with new tactics and strategies are needed to break out of the traditional prohibition-centric approach to this issue. The benefits of more successful policies would be felt though a lower level of harm from drug use, drug markets and drug policy. As such, a pragmatic understanding of how the international system might evolve to support new evidence-based approaches is crucial to developing a socially beneficial approach to drugs and drug policy.

Originality/value

The originality of this research lies in its blending of a historical evaluation of the role of civil society in the UN drug control system and the strategies of contemporary civil society actors around the UNGASS process. Thereby it allows a more critical evaluation of the strategic goals, assumptions and outcomes of reformist strategies in the recent era and potential strategies moving forward.

Details

Drugs and Alcohol Today, vol. 17 no. 2
Type: Research Article
ISSN: 1745-9265

Keywords

Article
Publication date: 29 May 2009

Raulin L. Cadet

The purpose of this paper is to present a model that studies the impact of a tightening monetary policy on banking failure in a developing country.

901

Abstract

Purpose

The purpose of this paper is to present a model that studies the impact of a tightening monetary policy on banking failure in a developing country.

Design/methodology/approach

The interest rate on treasury bills is included in the model to measure monetary policy. Since the model considers developing countries with low‐income level, the paper assumes that a secondary market does not exist.

Findings

The model shows that, despite treasury bills constituting an alternative source of profit for banks in developing countries, a tightening monetary policy increases the probability of banking failure. In addition, the model shows that efficiency level explains the asymmetric effect of monetary policy on the profit of the banks.

Practical implications

The policy implication of the results of the paper is that the central bank should take into account the adverse effect of a tightening monetary policy on banking failure, when planning policy decisions.

Originality/value

The paper offers insights into the linkage between monetary policy and banking failure in developing countries.

Details

Journal of Financial Economic Policy, vol. 1 no. 2
Type: Research Article
ISSN: 1757-6385

Keywords

Book part
Publication date: 16 September 2017

Ramana Nanda and Matthew Rhodes-Kropf

Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not examined how this affects which projects principals will…

Abstract

Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not examined how this affects which projects principals will start. We demonstrate that failure tolerance has an equilibrium price – in terms of an investor’s required share of equity – that increases in the level of radical innovation. Financiers with investment strategies that tolerate early failure will endogenously choose to fund less radical innovations, while the most radical innovations (for whom the price of failure tolerance is too high) can only be started by investors who are not failure tolerant. Since policies to stimulate innovation must often be set before specific investments in innovative projects are made, this creates a trade-off between a policy that encourages experimentation ex post and the one that funds experimental projects ex ante. In equilibrium, it is possible that all competing financiers choose to offer failure tolerant contracts to attract entrepreneurs, leaving no capital to fund the most radical, experimental projects in the economy. The impact of different innovation policies can help to explain who finances radical innovations, and when and where radical innovation occurs.

Details

Entrepreneurship, Innovation, and Platforms
Type: Book
ISBN: 978-1-78743-080-8

Keywords

Article
Publication date: 17 October 2016

Steven Van de Walle

The purpose of this paper is to review the literature on public service failure and develop a research agenda for studying public service failure alongside private service…

5662

Abstract

Purpose

The purpose of this paper is to review the literature on public service failure and develop a research agenda for studying public service failure alongside private service failure. The general services management literature has devoted relatively little attention to public services, whereas developments in the private service management literature have not reached public management.

Design/methodology/approach

This is a conceptual paper drawing on the public management literature. Different failure types and causes are discussed, including service failures that are specific to public sector settings. This is linked to the specific public context within which public services operate. Customer reactions to public service failure are then introduced, as well as service recovery.

Findings

Service failures in a public and a private context are different. There are different failure types and different standards of failure. Public management literature mainly studies collective and political reactions to service failure, whereas the private service management literature tends to focus on individual reactions. Finally, attention for service recovery was found to be very limited in the public services literature.

Social implications

Studying public service failure is important because failure can have dramatic consequences for customers, public organisations, and society. Social inequalities that arise as a result of public service failure need to have a prominent role in future research.

Originality/value

This paper develops the concept of public service failure and sets a novel research agenda for studying processes, causes, and consequences of such failure, as well as public-private differences.

Details

Journal of Service Management, vol. 27 no. 5
Type: Research Article
ISSN: 1757-5818

Keywords

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