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Open Access
Article
Publication date: 3 November 2022

Jiang Lu and Chen Zhang

Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by…

Abstract

Purpose

Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.

Design/methodology/approach

It was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.

Findings

The key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.

Originality/value

Achieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order.

Details

China Political Economy, vol. 5 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 30 April 2013

Yoon HEO

The Korean government has begun to implement the TAA system since May 2007 in order to support small and medium firms whose sales, production and profits have decreased due to the…

Abstract

The Korean government has begun to implement the TAA system since May 2007 in order to support small and medium firms whose sales, production and profits have decreased due to the intensified import competition. This paper analyzes the performance of the Korean TAA program based on the experience for the last five years and aims to suggest some relevant policy implications out of it. We find that the newly introduced Korean TAA system failed to accomplish the objectives of the program it had originally planned. It also failed to be an effective means for internal negotiations. All the efforts to retain marginal firms in comparative disadvantage turned out to be a big failure. This poor performance will threaten the system’s own existence in the near future. Even if the TAA system continues to exist, it will inevitably be converted into a worker-centered program instead of a firm-oriented industrial policy. Protecting people by protecting their jobs could be a strategy mistake. With the launch of new government of Korea in 2013, curtailing or abolishing the financial assistance program for marginal firms needs to be implemented immediately. Moreover, consulting services need to be more professional and customized.

Details

Journal of International Logistics and Trade, vol. 11 no. 1
Type: Research Article
ISSN: 1738-2122

Keywords

Open Access
Article
Publication date: 10 December 2021

Xiaodong Chen

The core of the micro–macro paradigm of mainstream Western economics is the assumption that a rational economic man with complete freedom of economic behaviors living in a fully…

Abstract

Purpose

The core of the micro–macro paradigm of mainstream Western economics is the assumption that a rational economic man with complete freedom of economic behaviors living in a fully competitive, free-market economy pursues maximum personal benefits. The purpose of this paper is to show the reasons for failure of mainstream Western economics explaining the “mystery of China’s economic growth” and the necessity of understanding the mystery from the paradigm of realm economics.

Design/methodology/approach

The system of socialism with Chinese characteristics led by the Communist Party of China (CPC) and the local governments that play a crucial role in the reform and opening-up has the realm attribute. It is necessary to develop a new paradigm for realm economic analysis and promote the creation of new economic globalization and international political and economic order.

Findings

According to the fourth plenary session of the 19th CPC Central Committee, “Since the New China was founded 70 years ago, our Party has led our people to create the rarely-seen miracle of rapid economic development and miracle of long-term social stability”. The authors find that it is effective and necessary to explain the miracle of China’s economic growth from the paradigm of realm economics.

Originality/value

As proven by practice, the system of socialism with Chinese characteristics and the governance system of China are guided by Marxism, rooted in China with a deep Chinese cultural foundation, and sincerely supported by the people.

Details

China Political Economy, vol. 4 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 10 July 2019

Seung-Whan Choi and Shali Luo

The purpose of this paper is to examine a curvilinear effect of legislative constraints on foreign debt.

1433

Abstract

Purpose

The purpose of this paper is to examine a curvilinear effect of legislative constraints on foreign debt.

Design/methodology/approach

A cross-sectional, time-series data analysis of 68 developing countries during the period from 1981 to 1999 was performed.

Findings

Foreign borrowing is most likely to increase at both low and high levels of legislative constraints, while it is most likely to decrease at moderate levels.

Originality/value

The paper is a first-cut empirical analysis of a curvilinear relationship between legislative constraints and foreign debt.

Details

International Trade, Politics and Development, vol. 3 no. 2
Type: Research Article
ISSN: 2586-3932

Keywords

Open Access
Article
Publication date: 11 June 2019

Yinxing Hong

In the process of reform, although every landmark theoretical breakthrough is marked by the speech of the highest leadership of the Communist Party of China (CPC) or the decision…

1764

Abstract

Purpose

In the process of reform, although every landmark theoretical breakthrough is marked by the speech of the highest leadership of the Communist Party of China (CPC) or the decision of the CPC National Congress, each breakthrough is attributable to the theoretical contribution made by the academia of political economy. Notably, these theoretical breakthroughs invariably embrace innovations in the discourse system of political economy. The paper aims to discuss this issue.

Design/methodology/approach

The innovations and breakthroughs thereof have led to the political economy of socialism with Chinese characteristics.

Findings

The success of China’s economy highlights the superiority of the socialist economic system and development path with Chinese characteristics.

Originality/value

These major breakthroughs are accompanied by breakthroughs in relevant theories, which constitute a synthesis of a series of major theoretical innovations in political economics.

Details

China Political Economy, vol. 2 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 13 December 2019

Fuqian Fang

Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing…

3764

Abstract

Purpose

Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing theoretical pillars for the capitalist market economy system and the scientificity of revealing the internal relations and operating rules of the capitalist market economy. The paper aims to discuss this issue.

Design/methodology/approach

However, after the 1830s, this justificativeness gradually evolved into vulgarity. Since the 1930s, modern western mainstream economics has mainly explored the general market economy on the assumption that the capitalist system remains unchanged, and many outcomes of such research are positive and beneficial.

Findings

Political economy of socialism with Chinese characteristics, at the present stage, is mainly a Chinese socialist market economics. It is guided by the Marxist political economy and rooted in the great practice of China’s reform and opening up and socialist modernization.

Originality/value

According to political complexion, western economic theories can be divided into political economic theory, mainstream economic theory and basic economic theory. By subjecting these theories to what we term “elimination,” “transformation” and “transplantation” surgeries, respectively, we can absorb and accommodate their beneficial elements in building a political economy of socialism with Chinese characteristics, which in turn is conducive to the development and prosperity of such an economy.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 25 June 2019

Huda Raouf

The purpose of this paper is to study and specify to what extent Iran will succeed in being a regional hegemon. The paper is devoted to clarification of the constitutive elements…

8448

Abstract

Purpose

The purpose of this paper is to study and specify to what extent Iran will succeed in being a regional hegemon. The paper is devoted to clarification of the constitutive elements for regional hegemony. These elements will be related to an actor’s perception of its role and regional perception, and how these hegemons exert power, do these work for the public good in the region (provision) and how this regional power projects power and exerts power to influence others’ preferences and values without reference to violence (projection). For the Middle East, Iran emerged as a key player in most regional conflicts and it tried to increase its sphere of influence as a regional hegemon. Therefore the question here would be: To what extend could Iran succeed in being a regional hegemon and what are the circumstances that could enhance or constrain this Iranian ambition? So the aim of the paper is to look at three dimensions in general and see whether Iran makes a plausible candidate for regional hegemony. The paper outlines the essential traits of a regional hegemon, and the main elements that constitute a regional hegemony such as perception, provision and projection, and then analyze how Iran follows those elements by analyzing internal perceptions of the Iranian elite about Iranian regional role, regional acceptance, provision of public good, projection and finally impact of the relation with external great powers. Through analyzing its regional strategy in Syria and Iraq since 2003, the year of invasion of Iraq, since ever a political vacuum was created, that enabled Iran to extend its regional influence, after the fall of its historical regional rival, Saddam Hussein baathi regime.

Design/methodology/approach

The study adopts an analytical framework of analyzing a regional hegemony strategy which is approached by Miriam Prys in her study “Hegemony, domination, detachment: differences in regional powerhood” to study and analyze Iran’s regional behavior as one of regional power that is seeking regional hegemony. This analytical framework is one of the most significant analytical tools that interests in the study of the behavior of regional power and identify the constitutive dimensions for regional hegemony such as self-perception, regional perception, provision and power projection.

Findings

The study concludes that there are obstacles completely in front of achieving the Iranian quest to regional hegemony over the Middle East. These are the continuing US involvement in the Middle East and the consequent tense relationship between Iran and the USA. It is most unlikely that Iran will be hegemonic state over the Middle East as long as there are refusal and resistance from other regional states for Iranian regional role; as each of regional powers has tools to contain the influence of the other. The Iranian regional behavior that is sectarianism-based, whether to protect Shiite shrines and holy places or to protect Shiites in the region, such policies deepen the ideological and sectarian conflicts. It also has not provided an attractive cultural model for the peoples of the region.

Research limitations/implications

This paper enhances the deep analysis of the Middle East dynamics through the prospective of regional power. Also, the paper focuses on the analysis of the relation between great power and aspiring regional power and the impact on its strategies.

Practical implications

This study enhances the understanding of how Iranian decision-makers perceive their regional Iranian and the threats. Moreover, the tools that Iran uses its hard power and ideational one to create regional followers and change its allies’ normative and value systems to come in line with its national interests. Moreover, the study tries to measure the actual Iranian influence, its weakness and strength so that the Arab states and the West could behave in a fruitful way.

Originality/value

In the final analysis, the paper offers an insight into the regional behavior and the importance of external power in regional dynamics and to what extent the regional hegemon is applicable to Iran.

Details

Review of Economics and Political Science, vol. 4 no. 3
Type: Research Article
ISSN: 2356-9980

Keywords

Open Access
Article
Publication date: 8 August 2022

Veronica Ines Fernandez Orellano and Taís Cardoso Tellini

This study investigates the impact of political alignment on intergovernmental transfers to the Brazilian unified health system (SUS). The authors analyzed both automatic…

Abstract

Purpose

This study investigates the impact of political alignment on intergovernmental transfers to the Brazilian unified health system (SUS). The authors analyzed both automatic transfers based on pre-established rules and discretionary transfers, using two criteria of political alignment between mayors and the central government.

Design/methodology/approach

For the empirical analysis the authors used regression-discontinuity design (RDD) and the outcomes of close elections between 2001 and 2017.

Findings

The results indicate positive and statistically significant effects of party alignment on the two transfer categories, especially discretionary transfers, but also on transfers based on pre-established rules. The effect of direct party alignment, when mayors and the president are from the same party, is greater than that resulting from coalitions established in municipal and federal elections.

Research limitations/implications

The positive effect of party alignment was found both in discretionary transfers (those that do not have previously established rules) and some non-discretionary transfers (although they have previously defined regulations). A part of these regulations depends on production capacity and on taking part in programs promoted by the central government, which may produce entropy in the financing system, and a margin to benefit political allies. In the case of the SUS system, it is possible that this entropy is greater in the basic health care category than in the moderate and high complexity one, allowing a higher margin for discretion in transfers allocated to the former. Stricter rules associated to basic health care transfers would be desirable.

Practical implications

In Brazil, stricter rules and monitoring associated to basic healthcare intergovernmental transfers would be desirable.

Social implications

The results may inspire some improvement in the mechanisms that govern the distribution of resources to basic healthcare in Brazil, improving social welfare by improving social justice in the distribution of resources to basic healthcare.

Originality/value

The authors does not know any other study about the impact of party alignment on the distribution of intergovernmental transfers to the Brazilian unified health system.

Details

EconomiA, vol. 23 no. 1
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 19 June 2019

Sherine Al-shawarby and Mai El Mossallamy

This paper aims to estimate a New Keynesian small open economy dynamic stochastic general equilibrium (DSGE) model for Egypt using Bayesian techniques and data for the period…

6535

Abstract

Purpose

This paper aims to estimate a New Keynesian small open economy dynamic stochastic general equilibrium (DSGE) model for Egypt using Bayesian techniques and data for the period FY2004/2005:Q1-FY2015/2016:Q4 to assess monetary and fiscal policy interactions and their impact on economic stabilization. Outcomes of monetary and fiscal authority commitment to policy instruments, interest rate, government spending and taxes, are evaluated using Taylor-type and optimal simple rules.

Design/methodology/approach

The study extends the stylized micro-founded small open economy New Keynesian DSGE model, proposed by Lubik and Schorfheide (2007), by explicitly introducing fiscal policy behavior into the model (Fragetta and Kirsanova, 2010 and Çebi, 2011). The model is calibrated using quarterly data for Egypt on key macroeconomic variables during FY2004/2005:Q1-FY2015/2016:Q4; and Bayesian methods are used in estimation.

Findings

The results show that monetary and fiscal policy instruments in Egypt contribute to economic stability through their effects on inflation, output and debt stock. The monetary policy Taylor rule estimates reveal that the Central Bank of Egypt (CBE) attaches significant importance to anti-inflationary policy and (to a lesser extent) to output targeting but responds weakly to nominal exchange rate variations. CBE decisions are significantly influenced by interest rate smoothing. Egyptian fiscal policy has an important role in output and government debt stabilization. Additionally, the fiscal authority chooses pro-cyclical government spending and counter-cyclical tax policies for output stabilization. Again, past values of the fiscal instruments are influential in the evolution of the future fiscal policy-making process.

Originality/value

A few studies have examined the interaction between monetary and fiscal policy in Egypt within a unified framework. The presented paper integrates the monetary and fiscal policy analysis within a unified dynamic general equilibrium open economy rational expectations framework. Without such a framework, it would not be easy to jointly analyze monetary and fiscal transmission mechanisms for output, inflation and debt. Also, it would be neither possible to contrast the outcome of monetary and fiscal authorities commitment to a simple Taylor instrument rule vis-à-vis optimal policy outcomes nor to assess the behavior of monetary and fiscal agents in macroeconomic stability in context of an active/passive policy decisions framework.

Details

Review of Economics and Political Science, vol. 4 no. 2
Type: Research Article
ISSN: 2631-3561

Keywords

Open Access
Article
Publication date: 18 March 2024

Noura Aleisa

This study aimed to identify and analyse the key factors influencing the adoption of e-government services and to discern their implications for various stakeholders, from…

Abstract

Purpose

This study aimed to identify and analyse the key factors influencing the adoption of e-government services and to discern their implications for various stakeholders, from policymakers to platform developers.

Design/methodology/approach

Through a comprehensive review of existing literature and detailed analysis of multiple studies, this research organised the influential factors based on their effect: highest, direct and indirect. The study also integrated findings to present a consolidated view of e-government adoption drivers.

Findings

The research found that users' behaviour, attitude, optimism bias and subjective norms significantly shape their approach to e-government platforms. Trust in e-Government (TEG) emerged as a critical determinant, with security perceptions being of paramount importance. Additionally, non-technical factors, such as cultural, religious and social influences, play a substantial role in e-government adoption decisions. The study also highlighted the importance of performance expectancy, effect expectancy and other determinants influencing e-government adoption.

Originality/value

While numerous studies have explored e-government adoption, this research offers a novel classification based on the relative effects of each determinant. Integrating findings from diverse studies and emphasising non-technical factors introduce an interdisciplinary approach, bridging the gap between information technology and fields like sociology, anthropology and behavioural sciences. This integrative lens provides a fresh perspective on the topic, encouraging more holistic strategies for enhancing e-government adoption globally.

Details

Journal of Innovative Digital Transformation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2976-9051

Keywords

1 – 10 of 991