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Exchange rate regime decisively impacts key policy objectives such as financial stability, inflation control, etc. The purpose of this paper is to overview the evolution of exchange rate regimes spanning 12 nations in the Latin American region over the last two decades and estimate the degrees of influence of other major currencies on each nation.

Using the methodology developed by Frankel and Wei, the de facto extent of exchange rate flexibility is discerned for these nations and put into perspective with that of the IMF exchange rate regime classifications.

An increase in flexibility is found from the 1990s to the 2000s, especially for inflation targeting nations. However, the results reveal these nations adopt a policy of “guarded caution” and follow more of a de facto managed floating regime that is far from pure floats. The smaller economies of the region still pursue more fixed regimes. While the results correlate, to an extent, with the IMF's classifications, several areas of discrepancy are noted. The findings are robust to several sensitivity analyses.

A discrepancy between the IMF regime categorization and the true regime a country actually follows may cause IMF financial assistance programs to be less effective. Do countries follow regimes they are classified into? The present study gleans deeper into the issue and discerns this. The comparative analysis includes the relatively larger economies of the region as well as the seldom researched smaller ones.

This paper aims to propose a novel model to forecast regime switches in a time series to assist decision making.

The authors apply the clustering technique to group the data into five states. Then, a model is proposed to formulate the relationships from in‐sample observations, including regime switch relationships. Afterwards, the model uses the relationships to forecast the regime switches in out‐sample observations.

The study uses daily Taiwan Stock Exchange Capitalization Weighted Stock Index as the forecasting target. Regime switches in in‐sample observations are identified. And a regime switch is successfully forecasted by the proposed model.

The proposed model identifies a regime switch which matches the real event. It implies that the proposed model can be applied to other time series, such as Dow Jones or NASDAQ.

Previous studies contribute to the forecasting of regime switches. The forecasting results are validated with the real event. One of the forecasted regime switches matches the event of Lehman Brothers' declaring of bankruptcy.

This paper takes an ideal type of different welfare regimes as a starting point. It investigates with survey data people's experiences and expectations towards the welfare state and its functioning against various social risks. The paper discusses questions like, are there differences in perceptions between welfare regimes? And what is the role of the welfare state regime in explaining those differences?

This research article is based on OECD survey data and classical welfare state classifications. The analysis of welfare regimes provides both a theoretical and methodological structure for study. The study-applied analysis of variance (one-way ANOVA) to test a hypothesis that regimes matter analyses more nuanced aspects of current and prospects to the near future welfare state provision.

This examination suggests that welfare regimes still matter even though the differences in averages were not as immense as expected. Perceptions in different welfare regimes also have priorities related to the willingness to pay more taxes in order to receive better access to services and financial support if needed. In Nordic countries, the acute priority based on survey data is investment in education and re-training. In Continental Europe, more financial support is needed for pensions. Overall, respondents representing emerging Eastern European and Mediterranean welfare regimes think that welfare provision should be financed more compared to other welfare regime respondents. Health is a universal and unifying issue, particularly in ageing welfare states, and brings health as a traditional and central question again.

Respondents' perceptions work as people's voice and assessments are used to gain a contemporary understanding of welfare and about welfare state functioning.

There is no single undertaking regulating food assistance at the international level. International food assistance is regulated by a patchwork of rules emanating from different institutions and normative arrangements. This study aims to explore how international law shapes international food assistance. How is international law regulating food assistance, considering this patchwork of institutions and norms? What dominant narratives enshrined in legal agreements shape the evolution of international food assistance?

The author uses the concept of “regime complex”, which allows analyzing partially overlapping and nonhierarchical regimes governing a particular issue, shedding light on the narratives and institutional arrangements that lead to the consolidation of international rules. The author identifies two main regimes that govern international food assistance: the food assistance regime and the food trade regime.

The author shows that using the “regime complex” concept clarifies the evolution of international food assistance, highlighting that international law is a crucial element in shaping international food assistance and showing that the two main institutional regimes governing it interact and shape rules along three main themes: the centrality of donor States’ self-interests, the relationship between international food assistance and trade liberalization and the goal of achieving food security for the beneficiaries.

Using the regime complex concept, the author brings new light on the broader institutional and legal framework influencing the governance of international food assistance, showing that different regimes take part in its shaping.

The EU prudential regime for investment firms comprising the Directive (EU) 2019/2034 (IFD) and Regulation (EU) 2019/2033 (IFR) introduces a fit-for-purpose capital framework for investment firms. The capital impact on the practice of investment management can be material depending on firms’ specific business models and risk profiles, which may require them to take strategic decisions with respect to the services they provide. Despite the importance of this issue for the practice of investment management, there exists no study among the existing studies that focuses on this issue. This study aims to fill this gap in the literature.

This paper reviews the calibration approaches the European Banking Authority (EBA) has used by exploring the deficiencies of the regime with respect to the calibration of categorization thresholds and coefficients that are used by the EBA to calculate regulatory capital requirements.

This paper sets out that the choice of the relevant percentile for setting the firm categorization thresholds was not based on any theoretical rule. It also discusses that the calibration of the K-factors was subjective and lacked consistency. In addition, it criticizes the sample that the EBA used for business model coverage on the grounds that it was unbalanced, resulting in certain K-factors driving the overall capital impact.

Further research is needed on the calibration of thresholds as this will remain a crucial factor for the effectiveness of the new regime. In particular, a more data-driven and transparent approach would be necessary to ensure the accuracy and consistency of the thresholds.

This paper leads to the policy implication that, despite its merits that overweigh its shortcomings, potential market competition and financial stability issues that may stem from inconsistencies and a general lack of objectivity in certain aspects of the regime should not be underestimated by the EU policy makers.

The present paper contributes to the existing knowledge primarily by reviewing the EBA’s calibration approaches with respect to the K-factor coefficients and firm categorization thresholds, concluding that lack of objectivity and precision in the relevant methodologies could distort capital allocation decisions in the practice of investment management.

This study aims to investigate how and why a new management accounting control (MAC) regime emerged in a previously government-owned energy company with a Soviet past in the context of changing politico-economic dynamics in Ukraine.

Drawing upon data from a case study of a large Ukrainian energy company with a Soviet past that has undergone major transformations in recent years, the authors analyze MAC regime changes in the company from an institutional logics perspective. All primary and secondary data used in this study were collected from 2012 to 2016. Retrospective interviews and extensive use of written materials, including corporate documents and other publicly available data, helped them reconstruct those events, which the authors could not observe personally.

The authors observed that MAC regime changes in the company mirror; overall changes in the political and economic environment and Ukraine’s willingness to become closer to the West. The company seems to follow liberal Western market logics and eliminate those of Soviet heritage. The MAC regime changes seemed to contribute to the company’s survival during challenges caused by the political and economic crises that began in 2014 with the annexation of Crimea and other Ukrainian territories in the East of the country, demonstrating the usefulness of the new MAC regime and overall business logic.

This study adds to the literature on management accounting and control change in emerging economies and extractive industries by highlighting the role of changing institutional logics in shaping a MAC regime. The authors explain why, in some contexts (i.e. Ukraine), organizational actors accept and favor liberal Western market logic.

A particularly significant facet of this study concerns its extension of the role of MAC and the way it is perceived in a new international context in times of significant transformation. The results suggest that MAC regime change may be favorably received if it is based on local values and aspirations.

The purpose of this paper is to explore the relationship between Dow Jones Islamic Market World Index, Islamic gold-backed cryptocurrencies and halal chain in the presence of state (regime) dynamics.

The authors have used the Markov-switching model to identify bull and bear market regimes. Moreover, the dynamic conditional correlation, the Baba, Engle, Kraft and Kroner- generalized autoregressive conditional heteroskedasticity and the wavelet coherence models are applied to detect the presence of spillover and contagion effects.

The findings indicate various patterns of spillover between halal chain, Dow Jones Islamic Market World Index and Islamic gold-backed cryptocurrencies in high and low volatility regimes, especially during the COVID-19 pandemic. Indeed, the contagion dynamics depend on the bull or bear periods of markets.

These present empirical findings are important for current and potential traders in gold-backed cryptocurrencies in that they facilitate a better understanding of this new type of assets. Indeed, halal chain is a safe haven asset that should be combined with Islamic gold-backed cryptocurrencies for better performance in portfolio optimization and hedging, mainly during the COVID-19 period.

To the best of the authors’ knowledge, this paper is the first research on the impact of the halal chain on the Dow Jones Islamic Market World Index return, Islamic gold-backed cryptocurrencies returns in the bear and bull markets around the global crisis caused by the COVID-19 pandemic.

This study aims to examine the relationship between political regimes and e-government performance, with a focus on governments’ perspectives of e-government. First, the authors use United Nations (UN) E-government Development Index (EGDI) to establish the current patterns of e-government performance across different regime types, and then develop their own typology of the various perspectives of different political regime types to e-government adopted in the literature. The purpose of this study is to explore the relationship between e-government performance and regime types.

This study adopts a mixed-method research approach that involves quantitative (statistical databases) as well as qualitative (interviews) methods to go beyond the statistics and obtain interpretations of explored patterns of e-government performance and regime types. The research instruments for this study include the Jupyter open-source software used for drawing the relevant correlations, and validating the results using expert interviews.

The results of the analysis support the research hypothesis that democracies have better e-government implementation than autocracies. The findings suggest that the type of a political regime has an influence on the conceptualization of e-government, the implementation of its practices and subsequently the assessment of its performance.

This study relies on the UN EGDI and data from previous literature. the UN Index only measures the supply side of government outputs without taking into consideration their impact on citizens, which does not provide a holistic view of the whole picture. Therefore, the UN EGDI rankings do not necessarily imply citizen satisfaction or improved e-government.

From a practice point of view, this study gives information to government leaders as well as technical experts on how the political regime influences the government’s performance in e-government. In fact, this paper bridges the gap between theory and practice by calling policymakers to take different regime worldviews and motivations into consideration before setting e-government strategies or even assessing e-government performance. Considering the current global digital transformation, it should be ensured that practitioners take these regime specifications into consideration. In the long term, the results of this research will prove that setting up e-government or e-participation platforms is not enough as technology alone is not enough to strengthen democracy or let alone stimulate citizen engagement. When dealing with e-government initiatives, the focus should be broadened beyond the technological aspect and take the social and political motivations of governments into consideration.

From a theoretical standpoint, this study calls for a more holistic e-government performance indicator that could take the regime perspectives into consideration and integrate them into its evaluation process. An indicator that can accommodate the different objectives pursued by different regime types. This could also be achieved by setting two indicators with each one matching the perspective of the specific regime type, which takes us to Ashby’s “Law of Requisite Variety” (1991). The Law of Requisite Variety states that “the system must possess as much regulatory variety as can be expected from the environment” (Ashby, 1956). This law has some implications for this study. It implies that the regime worldview influences the requisite variety depending on the political context where e-government is being implemented. Because we have two regime worldviews, we need to have at least two responses (in this case indicators) that consider the variety of political contexts. Therefore, through appreciating the differences between these two worldviews, this study recommends using the Law of Requisite Variety to investigate the influence of political regimes on e-government. In the same way, in our repertoire of responses, we should not assume that one discipline has the answer but have a variety of cross-disciplinary responses.

The contribution of this study lies in going beyond the statistical analyses of the UN EGDI to come up with possible interpretations of the reasons why political regimes differ in their e-government performance and what could be the reasons behind such variations. Based on analyzing correlations between e-participation performance and regime types, and interviews with experts, two different e-government perspectives could be identified: one for democracies and one for autocracies. Through identifying the relationship between these perspectives and the e-government performance of each regime type, this study provides governments and policy makers with new evidence that different regime types have different motivations for developing their e-government performance. Hence, e-government policies and strategies ought to match particular political contexts.

This paper aims to study the asset pricing implications for stock and bond markets in a long-run risks (LRR) model with regime shifts. This general equilibrium framework can not only generate sign-switching stock-bond correlations and bond risk premium, but also quantitatively reproduce various other salient empirical features in stock and bond markets, including time-varying equity and bond return premia, regime shifts in real and nominal yield curves, the violation of the expectations hypothesis of bond returns.

The researchers study the joint determinants of stock and bond returns in a LRR model framework with regime shifts in consumption and inflation dynamics. In particular, the means, volatilities, and the correlation structure between consumption growth and inflation are regime-dependent.

The model shows that the term structure of interest rates and stock-bond correlation are intimately related to business cycles, while LRR play a more important role in accounting for high equity premium than do business cycle risks.

This paper studies the joint determinants of stock and bond returns in a Bansal and Yaron (2004) type of LRR framework. This rational expectations general equilibrium framework can (1) jointly match the dynamics of consumption, inflation and cash flow; (2) generate time-varying and sign-switching stock and bond correlations, as well as generating sign-switching bond risk premium; and (3) coherently explain another long list of salient empirical features in stock and bond markets, including time-varying equity and bond return premia, regime shifts in real and nominal yield curves, the violation of the expectations hypothesis of bond returns.

This paper seeks to answer two questions: (1) where do a country's entrepreneurship policies come from? (2) How do they evolve and shape entrepreneurial activities?

Drawing upon the comparative political economy literature and the institutional perspective, this paper proposes a theoretical model of the origin and evolution of entrepreneurship policies. We use China as a case study to apply the theoretical model and demonstrate the evolution of entrepreneurship policies in three stages during the period 1978 to 2012.

The case analysis of China provides evidence and support for our theoretical model and unpacks the process by which entrepreneurship policies originate and evolve as the result of the interplay among constantly changing policymaking, production, and knowledge regimes.

Because of the research context, findings may lack generalisability. Additional studies on policymaking and production regimes of different kinds and their respective roles in shaping entrepreneurship policies are encouraged to further advance this line of research.

This paper offers important implications concerning entrepreneurship policy and activities for policymakers, practitioners and other stakeholders in emerging economies.

Our study fills a gap in the entrepreneurship literature by expanding scholarly understanding of the origin and evolution of entrepreneurship policies.