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1 – 10 of 260The relationship between government and market is the key to the economic development performance of market economy countries. Due to the limits such as the state/market…
Abstract
Purpose
The relationship between government and market is the key to the economic development performance of market economy countries. Due to the limits such as the state/market dichotomy, the focus on static allocation efficiency and the ignorance of the diversity of the market economy and the relationship between government and market, economic liberalism and state interventionism can hardly position and explain the role and evolution of government and market in the real world accurately.
Design/methodology/approach
China’s economic transition has always adhered to the reform direction of the socialist market economy and the development goal of a modern socialist country as well as the symbiosis and positive and progressive evolution of government and market, blazing a “third way” in handling the relationship between government and market.
Findings
The “China’s experience” shows that the key for emerging market economies to achieve good economic development performance lies in whether they can build a new relationship of the mutual integration between and common prosperity of government and market regarding target selection, production organisation, technological innovation, institutional change and regulatory adjustment.
Originality/value
The second part of this paper analyses the inherent defects of economic liberalism and state interventionism as well as the reasons why they can hardly be adopted as the theoretical guidance for emerging market economies to handle the relationship between government and market. The third part analyses how China has transcended the inherent thinking of liberalism and interventionism and shaped the new relationship between government and market through goal-oriented, active and progressive, two-way interactive exploration and practice to ensure the success of China's economic transition.
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Sonja Gallhofer and Jim Haslam
Believes that green accounting should be rendered open and accountable and be properly subject to a democratic process to avoid shrouding it in a mystifying expertise. Offers a…
Abstract
Believes that green accounting should be rendered open and accountable and be properly subject to a democratic process to avoid shrouding it in a mystifying expertise. Offers a timely and substantive contribution to the debate about how green accounting might be regulated. Believes the accounting profession will stop some distance short of recommending a substantive interventionist regulation. Feels that a voluntarist and market‐based stance is likely to be advocated or preferred. Makes out the case for a substantive interventionist form of regulation and points to the need in practice for something better than the status quo. Seeks to justify an interventionist stance in terms consistent with critical theory.
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It is demonstrated that the Austrian school in economics had verydifferent ideas about the creation and change of social institutions andespecially about the relation of state and…
Abstract
It is demonstrated that the Austrian school in economics had very different ideas about the creation and change of social institutions and especially about the relation of state and market, which is still one of the fundamental problems of economic theory. Menger′s fundamental distinction of pragmatic and organic institutions and Wieser′s contrary model are discussed, followed by the “impossibility theorem” of Mises and the contrary position of Schumpeter. Hayek′s liberation model of society is presented and criticised, and finally Menger′s position is interpreted as one of moderate liberal interventionism.
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The purpose of this paper is to show the different attitudes to bank ownership and regulation, residential lending and eviction in the UK and France, with their effects in the…
Abstract
Purpose
The purpose of this paper is to show the different attitudes to bank ownership and regulation, residential lending and eviction in the UK and France, with their effects in the credit crunch and how these factors are connected. UK non‐interventionism stems from a history of private banking, where competition produced plentiful finance but high risks for borrowers, where eviction is certain and fairly quick, but not necessarily disastrous for borrowers within a flexible system. The French history of post‐war interventionism for reconstruction and cautious banking has had successes and failures, culminating in large‐scale special loans to lower‐income borrowers, improving lending liquidity and stability. The French lower lending levels, intervention and caution can be partly explained by the disastrous effects of French debt and eviction processes on borrowers, but with overlay of delay and social protection.
Design/methodology/approach
The paper uses a historical institutionalist approach, calling on historical materials, statistics (where available) and the law and procedure of banking, mortgages, eviction and insolvency. Quantitative comparison of mortgage evictions is difficult, but procedures illuminate this.
Findings
National approaches to banking are path dependent and this effect is underestimated, particularly concerning attitudes to public intervention and eviction. Awareness of these connected effects could improve comparative research to assist lending to lower income groups, particularly concerning special French loans.
Practical implications
This can improve open‐mindedness, and promote ideas to house young people rather than simply calling for heavy regulation in the UK, or criticising French interventionism.
Originality/value
Comparative evictions related to the history of banking intervention are considerably understudied. The paper addresses the issues.
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The purpose of this paper is to address the distinctive problems of interventionist research that originate from intervention in ongoing practices as opposed to the experiment's…
Abstract
Purpose
The purpose of this paper is to address the distinctive problems of interventionist research that originate from intervention in ongoing practices as opposed to the experiment's design of a theory‐relevant context.
Design/methodology/approach
The paper is an essay, based on arguments of mapping closely and understanding the work environment of the managers under study, and of re‐framing (or re‐education) practices.
Findings
The paper finds that the intervention is valued in terms of improved practice, as well as theoretical contribution.
Research limitations/implications
Learning theories (organizational and individual) should be included in the toolbox as well as methods of observing ongoing practices.
Practical implications
Interventionist research changes the way organizations think about how they organize their work (the appellate case); learning theory impacts work organization very concretely.
Originality/value
Management itself is intervention in organizational work practices, intervention in management practices will be something akin to Argyris et al.'s second loop (or Rorty's abnormal discourse) learning, which can be understood as re‐framing (or re‐education) practices. The use of case narratives and storytelling as ways of data capture are of particular interest in that respect.
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What are the causes and consequences of Turkey’s intervention in Syria? The purpose of this paper is to explore this question by focusing on the time frame from 2011 to 2016, i.e…
Abstract
Purpose
What are the causes and consequences of Turkey’s intervention in Syria? The purpose of this paper is to explore this question by focusing on the time frame from 2011 to 2016, i.e. prior to Turkey’s strategic U-turn from uncompromising enmity toward Russia and Iran.
Design/methodology/approach
Process tracing is used as the main methodological guideline.
Findings
Turkey’s intervention in Syria has been driven by a mutually reinforcing interaction of geopolitical, geo-economic and geo-cultural factors. Turkey’s neo-Ottomanist geo-strategy has been militarized in the context of the Arab Spring, perceived decline of US hegemony, increasing Kurdish autonomy and Adalet ve Kalkınma Partisi’s (AKP) electoral setbacks. Second, Turkey’s intervention has been triggered by the converging motivations for energy security, easily gained profits from the black energy market and economic integration with Arab-Gulf countries in the face of a stagnating Western capitalism. A third set of factors speaks to the AKP’s instrumental use of Sunni sectarianism and Kurdish ethnopolitics.
Originality/value
The research aim is to provide a systematic and multi-causal explanation of Turkey’s involvement in Syria.
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Nearly every discussion involving trade takes a utilitarian approach. If free trade is good, it is good because the vast majority benefit, or because it is more efficient than…
Abstract
Nearly every discussion involving trade takes a utilitarian approach. If free trade is good, it is good because the vast majority benefit, or because it is more efficient than trade interventionism. Free trade raises the standard of living, results in lower prices and provides consumers with more choices. A number of studies have found that free trade creates more jobs than it destroys.
Deepening supply-side structural reform is the main objective of the economic work since the Chinese economy entered a new stage of development. By adopting the fundamental…
Abstract
Purpose
Deepening supply-side structural reform is the main objective of the economic work since the Chinese economy entered a new stage of development. By adopting the fundamental principles and methodologies of Marxist political economy, the authors can provide clarifications on the three basic theoretical issues concerning the supply-side structural reform. The paper aims to discuss these issues.
Design/methodology/approach
First, the essential starting point for understanding the supply-side structural reform is the primacy of production, as well as the organic connection between production and consumption in social reproduction, rather than the supply and demand as superficially seen in exchanges. By identifying the right starting point, the authors can avoid alternating between demand and supply management, and between liberalism and interventionism.
Findings
Structural problems, which are closely related to the institutional structure of production and the purpose and nature of production, cannot be solely attributed to the imbalance caused by market failures. Chinese economy has suffered prolonged structural contradictions and structural problems.
Originality/value
To decide whether the financial and the real estate sectors are real economy or virtual economy, the key is to examine whether the monetary capital used in financial activities and real estate commodity (capital) go through the capital circulation process of from monetary capital to productive capital and further to commodity capital, and whether the capital gain is generated by the value appreciation of capital or the value transfer and distribution as a result of the transfer of ownership. With its emphasis on developing the real economy, the supply-side structural reform should foster both development of manufacturing, and parts of financial and real estate sectors that are the real economy.
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Ryszard Piasecki and Miron Wolnicki
The legacy of the last 50 years of development economics is not very inspiring. In the 1960s and 1970s, instead of looking at the real causes and viable solutions to poverty and…
Abstract
The legacy of the last 50 years of development economics is not very inspiring. In the 1960s and 1970s, instead of looking at the real causes and viable solutions to poverty and underdevelopment, development economics was preoccupied with the politically‐charged debate over the superiority of either state‐controlled or market systems. In the 1980s and 1990s, economists expected that globalization would come to be a panacea for all developing countries. They advocated the abandonment of traditional industries and occupations and their replacement by modern sectors modelled after or imported from the developed countries. Such policies have generally failed with few exceptions–those being countries which chose to implement their own specific policies of development. These countries skillfully combined government interventionism with market system incentives. Despite its past problems, development economics has recently evolved to better reflect the realities of developing countries. For the first time, development economics is on the verge of becoming a real social science in which analysis of traditional institutions, community life, and religious and ethnic factors is not only important but decisive in developing new social and economic growth objectives and economic policies.
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The purpose of this paper is to present the actors, institutions and changing rules of the French system of industrial relations (IR). It questions whether the traditional view of…
Abstract
Purpose
The purpose of this paper is to present the actors, institutions and changing rules of the French system of industrial relations (IR). It questions whether the traditional view of the French model as “state-centric” is still adequate.
Design/methodology/approach
Based on institutionalist IR theories of social regulation and neocorporatism, the paper analyses the evolution of the French IR system from a “State-centric” model to the development of collective bargaining, both at the sector and company level, as well as of tripartite concertation.
Findings
Initially based on adversarial relations between trade unions and employers, compensated by strong state interventionism, the French IR system has experienced a series of reforms, adopted under the pressure of the unions in the 1980s and mostly under the pressure of the employers’ organisations since the turn of the century. These reforms boosted collective bargaining at the workplace level and tripartite concertation at the peak level. The paper analyses the limits of both developments and explains why a reversal of the hierarchy of norms was imposed in 2016 by law without prior concertation.
Originality/value
The paper presents an original explanation of the change of the initial French IR model, stressing the importance of power relations and the role of IR experts in the different reform moments.
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