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Financial stability has become a focal point for central banks since the global financial crisis. However, the optimal mix between monetary and financial stability policies remains unclear. In this study, the “soft” approach to such policy mix was tested – how often monetary policy (in inflation reports) analyses financial stability issues. This paper aims to discuss the aforementioned objective.

A total of 648 inflation reports published by 11 central banks from post-communist countries in 1998-2019 were reviewed using a text-mining method.

Results show that financial stability topics (mainly cyclical aspects of systemic risk) on average account for only 2%of inflation reports’ content. Although this share has grown somewhat since the global financial crisis (in CZ, HU and PL), it still remains at a low level. Thus, not enough evidence was found on the use of a “soft” policy mix in post-communist countries.

Given the strong interactions between price and financial stability, this paper emphasizes the need to increase the attention of monetary policymakers to financial stability issues.

The study combines two research areas, i.e. monetary policy and modern text mining techniques on a sample of post-communist countries, something which to the best of the authors’ knowledge has not been sufficiently explored in the literature before.

Fiscal and monetary policies are essential to the development of a capital market. In this chapter, authors present how fiscal and monetary policy in Poland evolved and adjusted to economic challenges in 1998–2022. It is worth noticing that the Polish economy and financial market have been built from scratch after 45 years of socialism. Hence, it is scientifically interesting to study the relationship between fiscal and monetary policy, and capital market in a developing country, and in a relatively young economy.

Both – the macroeconomic policy mix and development of the capital market – are the subject of analysis how fiscal and monetary policy impacted the capital market. As so the main aim of the chapter is the assessment of the nexus and dependencies between fiscal and monetary policy and the capital market.

In the chapter, multiple linear regression was used for each dependent variable to discover which monetary and fiscal policy parameters significantly predicted selected variables describing the development of the capital market in Poland. Fiscal and monetary policy variables served as descriptors explaining capital market parameters in seven separate models.

Multiple regression models explain 77.3%–95.4% of the volatility of the capital market characteristics. The level of the central bank's reference rate is a variable that influences the capital market the most. In six out of seven models, the interest rate was a significant parameter. The development of the capital market was accompanied by a higher tax-to-GDP ratio. At the same time, a strong negative impact of the tax-to-GDP increase was noticed in domestic institutional investors' stock trading.

This paper aims to explore the key anchors of the National Innovation System shaping the nature of collaboration between academic high-performance computing centres (academic HPC centres) and small- to medium-sized enterprises (SMEs) working in the automotive and electronics sectors of the Danube region. With two main research questions, it discusses the importance of knowledge transfer and technology transfer for collaboration between University and Industry (U-I collaboration) in three groups of developmentally distinct countries: competitively advanced, competitively intermediate and competitively lagging. As main anchors of the innovation system, stable legal environment, exciting innovation policies and strong R&D funding are recognised.

A qualitative empirical study in 14 Danube region countries included 92 focus group participants, expert representatives of academic HPC centres and SMEs. The data were audio recorded, transcribed and analysed.

The findings show the main prerequisites of the framework conditions for efficient U-I collaboration evolve through a goal-oriented National Innovation Policy and developed and functioning legal environment supporting labour market and intellectual property (IP) protection and enforcement. Additionally, skilled people are needed to be able to operate with HPC, where it seems all the countries lack such skilled workforce. In competitively lagging countries, the high levels of brain drain exhibit strong impact to U-I collaboration.

Research into relationships between academic HPC centres and SMEs conducted was qualitative; therefore, limitations in terms of generalisation arise from it. On the other hand, the research is promising in terms of offering the guidance for policy makers who can use the findings when delivering innovation policy mix, adjusted to developmental level of own innovation ecosystem.

The study is among the pioneering work in U-I collaboration between academic HPC centres and SMEs from automotive and electronics industries in the Danube region. The research addresses the dynamics of collaboration and offers policy implications to strengthen the particular U-I collaboration.

本文旨在探究國家創新系統的主要支柱; 這些支柱決定了學術性的高速網路與計算中心 (註: 此為直譯) (以下簡稱學術高網算中心) 與於多瑙河地區的汽車製造業和電子產品行業內營運的中小型企業之間的合作性質。本文透過兩條主要的研究問題、去探討知識轉移和技術轉讓對大學與產業界之間的合作的重要性而這些產業是屬於在發展階段上三個明顯不同的國家組別裏的這三個組別是 競爭先進的、競爭性中級的和競爭落後的。穩定的法律環境、令人興奮的創新政策和強大的研究與開發資金被認為是創新系統的三個主要支柱。

研究人員在14個位於多瑙河地區的國家裏進行一個質性觀察研究研究涵蓋92個焦點小組參與者、來自學術高網算中心和中小型企業的專家代表。有關的數據被錄音繼而被轉寫下來最後被分析。

研究結果顯示效率高的大學產業界合作的框架條件的主要先決條件是透過一個以目標為導向的國家創新政策而逐漸形成繼而發展起來; 另外所需的條件是一個支援勞工市場、保障知識產權、並執行有關的法律的正常運作的法律環境。其次若想與學術高網算中心一起工作技術人才是必須的因學術高網算中心內的所有國家似乎欠缺技術勞動力。在落後於競爭對手的國家裏高度的人才外流對大學與產業界之間的合作會產生重大的影響。

由於研究採用的研究方法為質性研究法故研究結果、就普遍化的歸納而言是有其局限的。唯研究結果在實務方面有其作用因政策制定者在推行與科技進步與對策有關的策略時他們可把研究結果作為指引就其自身創新生態系統的發展水準而作出適當的調整。

本研究探討涉及學術高網算中心與於多瑙河地區的汽車製造業和電子產品行業內營運的中小型企業之間合作的大學產業界合作就此而言可說是開創性研究之一。本研究探究有關的大學產業界合作的變革動力並為政策制定者提供啟示以能強化有關的合作。

The development of green manufacturing has become essential to achieve sustainable development and modernize the nation’s manufacturing and production capacity without increasing nonrenewable resource consumption and pollution. This study investigates the effect of green industrial practices on technical efficiency for Thai manufacturers.

The study uses stochastic frontier analysis (SFA) to estimate the stochastic frontier production function (SFPF) and inefficiency effects model, as pioneered by Battese and Coelli (1995).

This study shows that, on average, Thai manufacturing firms have experienced declining returns-to-scale production and relatively low technical efficiency. However, it is estimated that Thai manufacturing firms with a green commitment obtained the highest technical efficiency, followed by those with green activity, green systems and green culture levels, compared to those without any commitment to green manufacturing practices. Finally, internationalization and skill development can significantly improve technical efficiency.

Green industry policy mixes will be vital for driving structural reforms toward a more environmentally friendly and sustainable economic system. Furthermore, circular economy processes can promote firms' production efficiency and resource use.

To the best of the authors' knowledge, this study is the first to investigate the effect of green industry practices on the technical efficiency of Thai manufacturing enterprises. This study also encompasses analyses of the roles of internationalization, innovation and skill development.

This paper aims to depart from the national innovation system (NIS) arguments that countries' institutional arrangements and performance result from various complementary factors that generate innovative activities and products within economies.

To further explore these dimensions, the main objective of this paper is to address the determinants of global heterogeneity in the innovation outcomes of the nations. Thus, the research employs descriptive data analysis and multivariate regression models, using data from the Global Innovation Index (GII) to analyze innovation systems cross-regionally concerning institutional arrangements and performance. Since 2013, the GII, has annually measured and ranked the innovation inputs and outputs of more than a hundred countries based on a comprehensive and sophisticated approach and a multidimensional perspective.

The author found the empirical results remarkably interesting in many respects. The different indexes of innovation inputs affect the country's performance level, but not all show a statistically significant impact on innovation outputs. Institutions and infrastructure indexes do not affect the innovative performance of the economies. The main determinants of innovation performance worldwide are business sophistication, human capital & research (HC&R) and market sophistication. In short, the research presents an original contribution, mainly because it explores different views on NIS disparities worldwide, using complementary methodological strategies and based on comprehensive data on innovative inputs and outputs in the countries.

The findings add new evidence-based knowledge on the determinants of innovation performance in different realities, such as political, economic and administrative. These realities formulate innovation policies and implement them worldwide.

The aim of this chapter is to stimulate debate and critical thinking about the relevance and effectiveness – especially for ‘non-core’ areas – of prevailing methodological approaches to entrepreneurial ecosystems (EE) research and policy development and to argue for the exploration of critical realism (CR) as a potential framework for researchers, practitioners and policymakers. I argue that prevailing theoretical and methodological frameworks are insufficient to enable researchers to adequately understand the dynamics of diverse EE or for policymakers to act appropriately on research findings. I posit CR as an alternative framework, providing a ‘lens’ through which researchers, policymakers and other ecosystem stakeholders can collaboratively explore the role of context and its interplay with agency. CR addresses the disadvantages associated with deterministic models of entrepreneurship and ‘Valley envy’ policy prescriptions, thus generating more meaningful insights for policy and practice, especially in relation to ‘non-core’ areas.

Business research and development (R&D) is of critical importance for innovation and economic growth. The purpose of this study is to present an application of the analytic hierarchy process (AHP) to select the most appropriate policy measure to support the business expenditure on R&D (BERD).

AHP method adopts a multi-criteria approach that can be used to analyse and prioritize the policy measures based on pairwise comparisons between several attributes that affect the selection of a policy tool. The model formulated in this study is applied to a real case of supporting decision-makers in some high-tech sectors in Iran.

The results highlight the four main financial policy measures implemented in Iran to enhance the BERD; those are, public procurement for R&D, direct subsidies for R&D, grants for R&D and income tax credit for firms have the priority values of 0.280, 0.260, 0.249 and 0.211, respectively.

The findings of this study are based on subjective evaluation of policy measures by experts of designing policy measures. Objective assessment of policy measures is important too because the preferences of policy interventions change during the time. Another significant point is that the priorities of specific policy measures depend on the effectiveness of their implementing arrangement and the previously successful experience of firms in receiving them.

This paper presents an application of the AHP to select the most appropriate policy measure to support the BERD. This method could be used to prioritize the policies and interventions that governments implement to solve different problems, especially at the innovation system level.

Of critical concern to the world is the need to reduce consumption and waste of natural resources. This study provides a multi-level exploration of the ways situational and transformational links between levels and challenges are related to the adoption and utilization of material flow cost accounting in Vietnam, to encourage green productivity.

Based on triangulation of public documents at different institutional levels and a set of semi-structured interviews, situational and transformational links and challenges for material flow cost accounting in Vietnam are examined using purposive and snowball sampling of key actors.

Using a multi-level framework the research identifies six situational and transformational barriers to implementation of material flow cost accounting and suggests opportunities to overcome these. The weakest links identified involve macro-to meso-situational and micro-to macro-transformational links. The paper highlights the dominance of meso-level institutions and lack of focus on micro transformation to cut waste and enable improvements in green productivity.

The paper identifies ways for companies in Vietnam to reduce unsustainability and enable transformation towards sustainable management and waste reduction.

The paper is the first to develop and use a multi-level/multi-time period framework to examine the take-up of material flow cost accounting to encourage transformation towards green productivity. Consideration of the Vietnamese case builds understanding of the challenges for achieving United Nations Sustainable Development Goal number 12, to help enable sustainable production and consumption patterns.

From May 2024, Victoria (Australia) will mandatorily raise the minimum house energy rating standards from 6 to 7 stars. However, the latest data shows that only 5.73% of new Victorian houses were designed beyond 7-star. While previous literature indicates the issue’s link to the compliance behaviour of building practitioners in the design phase, the underlying behavioural determinants are rarely explored. This study thus preliminarily examines building practitioners’ compliance behaviour with 7-star Australian house energy ratings and beyond.

Using a widely-applied method to initially examine an under-explored phenomenon, eight expert interviews were conducted with building practitioners, a state-level industry regulator and a leading national building energy policy researcher. The study triangulated the data with government-led research reports.

The experts indicate that most building practitioners involved in mainstream volume projects do not go for 7 stars, mainly due to perceived compliance costs and reliance on standardized designs. In contrast, those who work on custom projects are more willing to go beyond 7-star mostly due to the moral norms for a low-carbon environment. The experts further agree that four behavioural determinants (attitudes towards compliance, subjective norms, perceived behavioural control and personal norms) co-shape building practitioners’ compliance behaviour. Interventions targeting these behavioural determinants are recommended for achieving 7 stars and beyond.

This study demonstrates the behavioural determinants that influence building practitioners’ compliance decisions, and offers insight regarding how far they will go to meet 7 stars. It can facilitate the transition to 7 stars by informing policymakers of customized interventions to trigger behaviour change.

The study attempts to estimate farm subsidies the governments can save by transitioning to a millet-based production system, replacing GHG emission-intensive crops.

It updates a 131 × 131 commodity input–output (IO) table of the year 2015–16 into 2021–22 using the RAS procedure and simulates the economy-wide impacts of replacing rice and wheat with pearl millet and sorghum using consumption and production approaches. It then quantifies fertilizer, electricity and credit subsidy expenses the government can save through this intervention. It also estimates the potential reduction in GHG emissions that the transition could bring about. India is taken as a case.

Results show pearl millet expansion brings greater benefits to the government. It is estimated that when households return to their pearl millet consumption rates that prevailed in the early-reform period, this could save the Indian government Rs. 622 crores (USD 75 m). The savings shall be reinvested in agriculture to finance climate adaptation/mitigation efforts, contributing to a sustainable food system. Net GHG emissions also decline by 3.3–3.6 MMT CO2e.

Indian government has been actively aiming to bring down paddy areas since 2013–14 through the Crop Diversification Program and promoting millets (and pulses and oilseeds) on these farms. The prime reason is to check rapidly declining groundwater irrigation in Green Revolution states. Regulations in the past in these states have not brought the intended results. Meanwhile, electricity and fertilizers are heavily subsidized for agriculture. A slight shift in the cropping system can help conserve these resources. Meanwhile, GHG emissions could also be brought down and subsidies could well be saved. The results of the study indicate the same.

A less warm society is what governments and nongovernment organizations across the world are aiming for at present. Financial implications affect actions against climate change to a greater extent, apart from technological innovations. The effects of policy strategies discussed in the study, taking a large country as a case, when implemented appropriately around the regions, could help move a step closer to action against climate change.

The paper addresses a key but rarely explored research issue – that how a climate-sensitive crop choice will help reduce the government’s fiscal burden to finance climate adaption/mitigation. It also offers a mechanism to estimate the benefits within an economy-wide framework.