Search results for: banking policies

Authors: Mergen Dyussenov

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Food security has become a prominent issue on the global policy agenda. Yet, one particular region that remains understudied is a cohort of Central Asian countries. To shed light onto the issue, the paper looks into a review of existing literature related to food security policies in Central Asia. In so doing, it seeks to systematize the context analyzed, key findings, and recommendations. Furthermore, it analyzes the role of key actors in promoting the food security policies across Central Asian nations. Finally, the paper attempts to set the agenda for further research.

Keywords: food security, central Asia, the role of actors, policy analysis

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Authors: Fawaz Saad, Hamid Alalwany

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Sweden has succeeded to maintain a high level of growth and development and has managed to sustain highly ranked position among the world’s developed countries. In this regard, Swedish universities are playing a vital role in supporting innovation and entrepreneurship at all levels and developing Swedish knowledge economy. This paper is aiming to draw on the experiences of two leading Swedish universities, addressing their transformation approach to create entrepreneurial universities and fulfilling their objectives in the era of knowledge economy. The objectives of the paper include: (1) Introducing the Swedish higher education and its characteristics. (2) Examining the infrastructure elements for innovation and Entrepreneurship at two of the Swedish entrepre-neurial universities. (3) Addressing the key aspects of support systems in the initiatives of both Chalmers and Gothenburg universities to support innovation and advance entrepreneurial practices. The paper will contribute to two discourses: (1) Examining the relationship between support systems for innovation and entrepreneurship and the Universities’ policies and practices. (2) Lessons for University leaders to assist the development and implementation of effective innovation and en-trepreneurship policies and practices.

Keywords: Entrepreneurial University, Chalmers University, Gothenburg University, innovation and entrepreneurship policies, entrepreneurial transformation

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Authors: Yasser Sanad, Thu Trang Dao

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Introduction: Implementing the One Health (OH) approach requires an integrated, interdisciplinary, and cross-sectoral methodology. OH is a key tool for developing and implementing programs and projects and includes developing ambitious policies that consider the common needs and benefits of human, animal, plant, and ecosystem health. OH helps humanity readjust its path to environmentally friendly and impartial sustainability. As co-leader of the Global Health Security Agenda’s Zoonotic Disease Action Package, Vietnam pioneered a strong OH approach to effectively address early waves of the COVID-19 outbreak in-country. Context and Aim: The repeated surges in COVID-19 in Vietnam challenged the capabilities of the national system and disclosed the gaps in multi-sectoral coordination and resilience. To address this, FHI 360 advocated for the standardization of the OH platform by government actors to increase the resiliency of the system during and post COVID-19. Methods: FHI 360 coordinated technical resources to develop and implement evidence-based OH policies, promoting high-level policy dialogue between the Ministries of Health, Agriculture, and the Environment, and policy research to inform developed policies and frameworks. Through discussions, an OH-building Partnership (OHP) was formed, linking climate change, the environment, and human and animal health. Findings: The OHP Framework created a favorable policy environment within and between sectors, as well as between governments and international health security partners. It also promoted strategic dialogue, resource mobilization, policy advocacy, and integration of international systems with National Steering Committees to ensure accountability and emphasize national ownership. Innovative contribution to policy, practice and/or research: OHP was an effective evidence-based research-to-policy platform linking to the National One Health Strategic Plan (2021-2025). Collectively they serve as a national framework for the implementation and monitoring of OH activities. Through the adoption of policies and plans, the risk of zoonotic pathogens, environmental agent spillover, and antimicrobial resistance can be minimized through strengthening multi-sectoral OH collaboration for health security.

Keywords: one health, national policies, health security, COVID-19, Vietnam

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Authors: Eithan Hourie, Miki Malul, Raphael Bar-El

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To investigate the relationship between various welfare policies and the value of job security, we conducted a study with 201 people regarding their assessments of the value of job security with respect to three elements: income stability, assurance of continuity of employment, and security in the job. The experiment simulated different welfare policy scenarios, such as the amount and duration of unemployment benefits, workfare, and basic income. The participants evaluated the value of job security in various situations. We found that the value of job security is approximately 22% of the starting salary, which is distributed as follows: 13% reflects income security, 8.7% reflects job security, and about 0.3% is for being able to keep their current employment in the future. To the best of our knowledge, this article is one of the pioneers in trying to quantify the value of job security in different market scenarios and at varying levels of welfare policy. Our conclusions may help decision-makers when deciding on a welfare policy.

Keywords: job security value, employment protection legislation, status quo bias, expanding welfare policy

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Authors: Ratna Kuswardani

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This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

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Authors: Ana Caroline Ibrahim Lino, Denise Bomtempo Birche de Carvalho

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The background of this research is the international process of control and monitoring of illicit psychoactive substances that has commenced in the early 20th century. This process was intensified with the UN Single Convention on Narcotic Drugs of 1961 and had its culmination in the 1970s with the "War on drugs", a doctrine undertaken by the United States of America. Since then, the phenomenon of drug prohibition has been pushing debates around alternatives of public policies to confront their consequences at a global level and in the specific context of Latin America. Previous research has answered the following key questions: a) With what characteristics and models has the international illicit drug control system consolidated in Latin America with the creation of the Organization of American States (OAS) and the Inter-American Drug Abuse Control Commission (CICAD)? b) What drug policies and programs were determined as guidelines for the member states by the OAS and CICAD? The present paper mainly addresses the analysis of the drug strategies developed by the OAS/CICAD for the Americas from 2004 to 2016. The primary sources have been extracted from the OAS/CICAD documents and reports, listed on the Internet sites of these organizations. Secondary sources refer to bibliographic research on the subject with the following descriptors: illicit drugs, public policies, international organizations, OAS, CICAD, and reducing the demand and supply of illicit drugs. The "content analysis" technique was used to organize the collected material and to choose the axes of analysis. The results show that the policies, strategies, and action plans for Latin America had been focused on anti-drug actions since the creation of the Commission until 2010. The discourses and policies to reduce drug demand and supply were of great importance for solving the problem. However, the real focus was on eliminating the substances by controlling the production, marketing, and distribution of illicit drugs. Little attention was given to the users and their families. The research is of great relevance to the Social Work. The guidelines and parameters of the Social Worker's profession are in line with the need for social, ethical, and political strengthening of any dimension that guarantees the rights of users of psychoactive substances. In addition, it contributed to the understanding of the political, economic, social, and cultural factors that structure the prohibitionism, whose matrix anchors the deprivation of rights and violence.

Keywords: illicit drug policies, international organizations, latin America, prohibitionism, reduce the demand and supply of illicit drugs

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Authors: A. Rana, M. Badri, D. Lopez Behar, O. Yee, H. Al Bqaei

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The building sector is one of the largest emitters of greenhouse gases. However, as operation energy demands of this sector decrease with more effective energy policies and strategies, there is an urgent need to parallel focus on the growing proportion of embodied carbons. In this regard, benchmarks on embodied carbon of buildings can provide a point of reference to compare and improve the environmental performance of buildings for the stakeholders. Therefore, embodied carbon benchmarks can serve as a useful tool to address climate change challenges. This research utilizes the method to provide a knowledge roadmap of embodied carbon benchmarks development and implementation trends. Two main databases, Web of Science and Engineering Village, are considered for the study. The mapping was conducted with the help of VosViewer tool to provide information regarding: the critical research areas; most cited authors and publications; and countries with the highest publications. It is revealed that the role of benchmarks in energy policies is an emerging trend. In addition, the research highlighted that in policies, embodied carbon benchmarks are gaining importance at the material, whole building, and building portfolio levels. This research reveals direction for improvement and future research and of relevance to building industry professionals, policymakers, and researchers.

Keywords: buildings embodied carbon benchmark, methods, policy

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Malik Shahzad Shabbir, Muhammad Saarim Ghazi, Amir Khalil ur Rehman

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This study examines the factors which influence and contribute towards the financial viability of Islamic finance and its impact on global financial stability. However, the purpose of this paper is to differentiate the practical implications of both Islamic and conventional finance on global financial stability. The Islamic finance is asset backed financing which creates wealth through trade, commerce and believes in risk and return sharing. Islamic banking is asset driven as against to conventional banking which is liability driven. In order to introduce new financial products for market, financial innovation in Islamic finance must be within the Shari’ah parameters that are tested against the ‘Maqasid al-Shari’ah’. Interest-based system leads to income and wealth inequalities and mis-allocation of resources. Moreover, this system has absence of just and equitable aspect of distribution that may exploit either the debt holder or the financier. Such implications are reached to a tipping point that leaves only one choice: change or face continued decline and misery.

Keywords: viability, global financial stability, practical implications, asset driven, tipping point

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Authors: Ibrahim Bashayreh Al-Bashtawy Mohammed, Al-Azzam Manar Ahmad Rawashda, Abdul-Monim Batiha Mohammad Sulaiman

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Background: Workplace violence against emergency department staff (EDS) is considered one of the most common and widespread phenomena of violence. Purpose: The purpose of this research is to determine the incidence rates of workplace violence and the predicting factors of violent behaviors among emergency departments’ staff in Jordanian hospitals. Methods: A cross-sectional study was used to investigate workplace violence towards a convenience sample of 355 emergency staff departments from 8 governmental and 4 private Jordanian hospitals. Data were collected by a self-administered questionnaire that was developed for the purpose of this study. Results: 72% of workers in emergency departments within Jordanian hospitals are exposed to violent acts, and that patients and their relatives are the main source of workplace violence. The contributing factors as reported by the participants were related to overcrowding, lack of resources, staff shortages, and the absence of effective antiviolence policies. Conclusions/implications for Practice: Policies and legislation regarding violence should be instituted and developed, and emergency department staff should be given training on how to deal with violent incidents, as well as on violence-management policies.

Keywords: Jordan, emergency staff department, workplace violence, community health

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Authors: Yazdani Saeed, Rafiei Hamed, Nekoofar Farahnaz

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Governments Policies play a major role in national and international Markets. Pistachio is one of the most important non-oil export commodity of Iran. Therefore, in this study the relation between the producer support policies and the export of Pistachio was examined. An econometric model (VAR) was applied to test the study hypothesis. According to the estimated coefficient in VAR model, lag of producer support index has a significant and negative effect on variation of Pistachio’s export in short term. In other word, in short term, export advantage index is dependent on the amount of producers support in previous period.

Keywords: producer support, export advantage, pistachio, Iran

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Authors: Ebru Dalgakiran

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Border and bordering studies have come to the forefront in recent years especially with parallel to increase in international migratory movements. Although conceptualizations of the border and bordering are quite contested within academia, the general point of view is that borders are politically and socially constructed. It means that borders have always their own ‘us vs. them’, and bordering process produce separate identities as well. In that case, Turkey and Greece are notable examples since these two nation-states constructed their borders upon each other’s for years although the Turkish-Greek border was drawn with the Lausanne Treaty of 1923. Nevertheless, on the other hand, The European Union (EU) has been externalized of border management policies to build a stronger area of freedom, security, and justice within the borders. Thus, Turkish-Greek border has become one of the significant external borders of the EU. In this context, this study aims to understand whether the EU’s bordering process through externalizing border management policies can affect Turkey’s and Greece’s bordering processes. By examining official documents of the EU and conducting in-depth interviews with local actors of the border management policies of the EU in Edirne, where is the border city of Turkey with Greece, this study’s main finding is that the EU’s bordering process to control migration at the external borders affects Turkey’s and Greece’s bordering processes. It seems that Turkey and Greece construct their borders upon a common Other, ‘irregular migrants’ now.

Keywords: border, bordering, the European Union, externalization

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Authors: Demet Ozgur-Unluakin, Busenur Turkali, Ayse Karacaorenli

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Maintenance strategies can be classified into two types, which are reactive and proactive, with respect to the time of the failure and maintenance. If the maintenance activity is done after a breakdown, it is called reactive maintenance. On the other hand, proactive maintenance, which is further divided as preventive and predictive, focuses on maintaining components before a failure occurs to prevent expensive halts. Recently, the number of interacting components in a system has increased rapidly and therefore, the structure of the systems have become more complex. This situation has made it difficult to provide the right maintenance decisions. Herewith, determining effective decisions has played a significant role. In multi-component systems, many methodologies and strategies can be applied when a component or a system has already broken down or when it is desired to identify and avoid proactively defects that could lead to future failure. This study focuses on the comparison of various maintenance strategies on a multi-component dynamic system. Components in the system are hidden, although there exists partial observability to the decision maker and they deteriorate in time. Several predefined policies under corrective, preventive and predictive maintenance strategies are considered to minimize the total maintenance cost in a planning horizon. The policies are simulated via Dynamic Bayesian Networks on a multi-component system with different policy parameters and cost scenarios, and their performances are evaluated. Results show that when the difference between the corrective and proactive maintenance cost is low, none of the proactive maintenance policies is significantly better than the corrective maintenance. However, when the difference is increased, at least one policy parameter for each proactive maintenance strategy gives significantly lower cost than the corrective maintenance.

Keywords: decision making, dynamic Bayesian networks, maintenance, multi-component systems, reliability

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Authors: Traci A. Hefner

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Limited research exists on the readiness of emergency departments to respond to human trafficking (HT). The purpose of this qualitative case study was to improve the readiness of a Department of Emergency Medicine (ED), located in the southeast region of the United States, in identifying, assessing, and responding to trafficked individuals. The research objectives were to 1) provide an organizing framework to understand the ED’s readiness to respond to HT, using the Transtheoretical Model’s stages of change construct, 2) explain the readiness of the ED through a three-pronged contextual approach that included policies and procedures, patient data collection processes, and clinical practice methods, and 3) develop recommendations to respond to HT. Content analysis was used for document reviews and on-site observations, while thematic analysis identified themes of staff perceptions of the ED’s readiness in interviews of over 30 clinical and non-clinical healthcare professionals. Results demonstrated low levels of readiness to identify HT through the ED’s policies and procedures, data collection processes, and clinical practice methods. Clinical practice-related factors consisted of limited awareness of HT warning signs and low-levels of knowledge about community resources for possible HT referrals. Policy and practice recommendations to increase the ED’s readiness to respond to HT included: developing staff trainings across the ED system to enhance awareness of HT warning signs, incorporating HT into current policies and procedures for vulnerable patient populations as well as creating a HT protocol that addresses policies and procedures, screening tools, and community referrals.

Keywords: emergency medicine, human trafficking, organizational assessment, stages of change

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Authors: Katarzyna Czarnota, Inga Hajdarowicz

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Political mechanisms of legal, social and economic segregation of refugees and migrants have reproduced and deepened existing hierarchies and inequalities in global labour relations. The consequences of these processes strengthened by current, so called, ‘refugee crisis’, tightening of border regimes, militarisation and closing of Balkan Route, will have a significant impact on future integration policies. One of the fields that require further research is limited access to labour rights of migrants and refugees. Although this phenomenon is experienced by a significant proportion of migrant population, these are the poorest who are also exposed to economic racism. The presentation will tackle the influence of current migration policies on increasing social and class inequalities between migrants, refugees, on the example of Syrian labours in Turkish textile factories. The authors will critically analyse examples of integration policies, especially planned changes in labour law as well as examples of violation of labour rights and exploitation of refugees and migrants in textile factories and industry. The presentation will be based on interviews with Syrian workers, conducted in Turkey and Greece in 2016.

Keywords: refugee crisis, economic racism, global labour relations, exploatation

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Authors: Paulino Varela Tavares, Ana Lucia Romao

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Public governance represents an articulated arrangement, dynamic and interactive, present in the exercise of authority aimed at strengthening the decision-making procedure in public administration with transparency, accountability, responsiveness and capable of to emerge control and social empowerment, to pursue and achieve the objectives efficiently and with the effectiveness desired for the collectivity, respecting the laws and provide social, institutional and economic equity in society. In this context, using a multidimensional approach with the application of a questionnaire with four questions directed to twenty Counselors of the Courts of Auditors of the States (Brazil) and twenty professionals (liberals, teachers, and specialists) of the public administration in Brazil, preliminary results indicate that 70% believe that the level of transparency in public policies is low; 40% say that the government makes accountability because it is required by law, but, other instruments must be developed to force the government to account for all accounts with society; 75% say that government responsiveness is very limited because of the lack of long term planning, which is greatly affected by party political issues in Brazil. Therefore, the results, as yet, point out that Brazilian society has a huge challenge regarding the transparency, accountability, and responsiveness of governments in relation to their public policies.

Keywords: accountability, public governance, responsiveness, transparency

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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Authors: Tsoaledi D. Thobejane, Barnabas C. Okere

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Gender mainstreaming has been adopted as a strategy for promoting gender equality in institutions of higher learning Worldwide, not least in Africa. This study investigated Gender Mainstreaming at the University of Venda, in Limpopo Province, South Africa. The study was based on the Feminist Theoretical Framework. Both qualitative and quantitative approaches were used. A case study research design was adopted. The study involved a population of 60 participants and a sample of 25 male and female workers selected using the purposive sampling technique. Data were presented in pie charts, tables, themes and in textual forms. Data were analysed through descriptive statistics and thematic analysis. The major findings and conclusions of the study were that the University of Venda faces enormous challenges in mainstreaming gender in the university functions. There are perceptions that most strategic higher positions in the institution are dominated by men while women are marginalized. Although the University has policies on gender, staff members do not know about them while management does not implement its policies. University of Venda makes use of the Employment Equity Act of 1998, but it is not clear whether line managers are aware of its implementation and how. In addition, favouritism, nepotism, patronage, and patriarchy played a role in gender mainstreaming. The study recommended that there should be more gender awareness activities, such as workshops, conferences, and symposia for workers and staff members in order to sensitize them about gender towards understanding. The study also recommended that deserving female staff members should be promoted, and all employees should be encouraged to read and understand gender policies. In addition, management should implement the institutions and national gender policies without fear or favour.

Keywords: gender mainstreaming, gender equality, institutions, representation

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Authors: Magdalena Madany-Saá

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This paper compares the language management of two language policies in plurinational Ecuador: (1) mandatory English language teaching that uses Western standards of quality, and (2) indigenous educación intercultural bilingüe, which promotes ancestral knowledge and the indigenous languages of Ecuador. The data are from a comparative institutional ethnography conducted between 2018 and 2022 in English and Kichwa teacher preparation programs in an Ecuadorian teachers’ college. Specifically, the paper explores frameworks of knowledge promoted by different educational actors in both teacher education programs and the ways in which the Ecuadorian transformation towards a knowledge-based economy is intertwined with the country’s linguistic policies. Focusing on the specific role of language advocates and their discursive role in knowledge production, the paper elaborates on the notion of agency in Language Policy and Planning (LPP), referred to as epistemic agency. Specifically, the epistemic agency is conceptualized through the analysis of English language epistemic advocates who participate in empowering English language policies and endorse knowledge production in that language. By proposing an epistemic agency, this paper argues that in the context of knowledge-based societies, advocates are key in transferring the policies from the political to the epistemic realm – where decisions about what counts as legitimate knowledge are made. The study uses the decolonial option as its analytical framework for critiquing the hegemonic perpetuation of modernity and its knowledge-based models in Latin America derived from the colonial matrix of power. Through this theoretical approach, it is argued that if indigenous stakeholders are only viewed as political actors and not as knowledge producers, the hegemony of Global English will reinforce a knowledge-based society constructed upon Global North modernity. In the absence of strong epistemic advocates for indigenous language policies, powerful Global English advocates occupy such vacancies at the language management level, thus dominating the ecology of knowledge in a plurinational and plurilingual Ecuador.

Keywords: educación intercultural bilingüe, English language teaching, epistemic agency, language advocates, plurinationality

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Authors: H. H. Goh, K. C. Goh, W. N. Z. S. Wan Sukri, Q. S. Chua, S. W. Lee, B. C. Kok

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Endowed of renewable energy sources (RES) are the advantages of ASEAN, but they are using a low amount of RES only to generate electricity because their primary energy sources are fossil and coal. The cost of purchasing fossil and coal is cheaper now, but it might be expensive soon, as it will be depleted sooner and after. ASEAN showed that the RES are convenient to be implemented. Some country in ASEAN has huge renewable energy sources potential and use. The primary aim of this project is to assist ASEAN countries in preparing the renewable energy and to guide the policies for RES in the more upright direction. The Green-Y model will help ASEAN government to study and forecast the economic concept, including feed-in tariff.

Keywords: ASEAN RES, Renewable Energy, RES Policies, RES Potential, RES Utilization

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Authors: N. Coskun

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Australia has received over 840,000 refugees since its establishment as a federation. Despite the long history of refugee intake, Australia appears to have prolonged problems in refugee education such as academic and social isolations of refugee background students (RBS), the discriminations towards RBS and the high number of RBS drop-outs. This paper examines the place of RBS in educational policies, which can help to identify the problems and set a foundation for solutions. This paper investigates the educational provisions for RBS in three stages. First, the paper identifies the needs of RBS through a comprehensive literature review, using the framework of Bronfenbrenner’s bio-ecological model. Second, the study explores the place of these needs in Australian national and state educational policies which are informed by multiculturalism. The findings conclude that social, academic and psychological needs of RBS hardly find a place in multicultural educational policies. The students and their specific needs are mostly invisible and are placed under a general category of newly arrived immigrants who learn English as a second language. Third, the study explores the possible reasons for the overlook on RBS and their needs with examining the general socio-political context surrounding refugees in Australia. The overall findings suggest that Australian multiculturalism policy in education are inadequate to address RBS' social, academic and psychological needs due to the disadvantaging socio-political context where refugees are placed.

Keywords: Australia, bio-ecological model, multiculturalism, refugee education

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Authors: Constantinos Adamides, Petros Petrikkos

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In the era of growing hybrid threats, small states find themselves in need to re-evaluate existing foreign and defense policies. The pressure to establishing or maintain a status of a reliable partner in the community in which they belong to, vis-à-vis their multilateral relations with other organisations and entities, small states may need to shift their policies in the field to accommodate security needs that are not only pertinent to their security, but also to that of the organisations (bloc) in which they interact. Unlike potential shortcomings in a small state’s mainstream security and defence framework where the threat would be limited to the state itself, in more contemporary times with dominating hybrid threats, the small states’ security shortcomings may also become a security problem for the bloc in which these states belong to. An indicative example is small states like Cyprus and Malta, which belong and 'interact' in the European Union. As a result, the nature of hybrid threats can be utilised to hurt bigger states in a bloc by exploiting the small states’ vulnerabilities and security gaps. Inevitably, both the defensive and foreign policy collaborations of small states with bigger states have been and are constantly re-evaluated to tackle and prevent such problems. In essence, the goal of this ‘re-evaluation’ aims to achieve a twofold goal: The first is the small states’ quest to appear as a reliable partner within the bloc, while the second is to avoid being the weakest security link in the bloc’s defence against hybrid threats. Indeed, the hybrid arena is a security area where they can excel in the bloc, despite the potential and expected conventional military deficiencies. This new environment prompts us to think security from the perspective of small states differently and in relation to their role as members or big organisations. The paper focuses on the case of Cyprus following its accession to the European Union and examines how a country that has had a very focused security orientation –not least due to its ongoing security problems– altered its foreign and defence policies within the European Union to ensure compliance with the rest of the bloc, while at the same time maximizing its role as a security player. Specifically, it examines the methods through which the country shifted its policies as well as the challenges and opportunities that emerged from these security shifts.

Keywords: Cyprus, defence, foreign policy, hybrid threats, ontological security, small states

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Authors: Golnush Masghati-Amoli, Paul Chin

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Over the past recent years, with the rapid increases in data availability and computing power, Machine Learning (ML) techniques have been called on in a range of different industries for their strong predictive capability. However, the use of Machine Learning in commercial banking has been limited due to a special challenge imposed by numerous regulations that require lenders to be able to explain their analytic models, not only to regulators but often to consumers. In other words, although Machine Leaning techniques enable better prediction with a higher level of accuracy, in comparison with other industries, they are adopted less frequently in commercial banking especially for scoring purposes. This is due to the fact that Machine Learning techniques are often considered as a black box and fail to provide information on why a certain risk score is given to a customer. In order to bridge this gap between the explain-ability and performance of Machine Learning techniques, a Hybrid Model is developed at Dun and Bradstreet that is focused on blending Machine Learning algorithms with traditional approaches such as scorecards. The Hybrid Model maximizes efficiency of traditional scorecards by merging its practical benefits, such as explain-ability and the ability to input domain knowledge, with the deep insights of Machine Learning techniques which can uncover patterns scorecard approaches cannot. First, through development of Machine Learning models, engineered features and latent variables and feature interactions that demonstrate high information value in the prediction of customer risk are identified. Then, these features are employed to introduce observed non-linear relationships between the explanatory and dependent variables into traditional scorecards. Moreover, instead of directly computing the Weight of Evidence (WoE) from good and bad data points, the Hybrid Model tries to match the score distribution generated by a Machine Learning algorithm, which ends up providing an estimate of the WoE for each bin. This capability helps to build powerful scorecards with sparse cases that cannot be achieved with traditional approaches. The proposed Hybrid Model is tested on different portfolios where a significant gap is observed between the performance of traditional scorecards and Machine Learning models. The result of analysis shows that Hybrid Model can improve the performance of traditional scorecards by introducing non-linear relationships between explanatory and target variables from Machine Learning models into traditional scorecards. Also, it is observed that in some scenarios the Hybrid Model can be almost as predictive as the Machine Learning techniques while being as transparent as traditional scorecards. Therefore, it is concluded that, with the use of Hybrid Model, Machine Learning algorithms can be used in the commercial banking industry without being concerned with difficulties in explaining the models for regulatory purposes.

Keywords: machine learning algorithms, scorecard, commercial banking, consumer risk, feature engineering

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Authors: Paulino V. Tavares, Ana L. Romao

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Public governance, in general, is essential to qualify and educate, pedagogically, the decision-making process of the government in relation to the management of resources and the provision of public services, with transparency and active participation of individuals and citizens for the development of a more democratic environment, besides stimulating control and social empowerment, aiming at the development of the collectivity. In this context, the participation of society in the elaboration, execution, and control of public policies is prominent to strengthen public governance itself. With this, using a multidimensional approach with the application of two questionnaires to a universe of twenty Counselors of the Courts of Auditors (Brazil), twenty professionals of public administration (Brazil), twenty Government/Provincial Counselors (South Africa), and twenty South African professionals of public administration, the preliminary results indicate that the participation of civil society, for both countries, is very low in the elaboration, execution, and control of public policies. At the same time, about 70% of the answers obtained indicate, on average, three possible paths to increase the participation of civil society. With this, it is delineated that developing new horizons to strengthen both public policies how social participation is necessary, but, for both, it is important that governments and civil society, in their respective countries, have an awareness of the effective importance of this interaction.

Keywords: Brazil, civil society, participation, South Africa

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Authors: Jonathan Palatz Cedeño

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The paper will seek to examine the scope and limitations of the process of construction of ordinary and extraordinary migration regulatory tools of the countries of Latin America, due to the Venezuelan diaspora in Ibero-America (2015-2018). The analysis methodology will be based on a systematic presentation of the existing advances in the subject under a qualitative approach, in which the results are detailed. We hold that an important part of the Latin American countries that used to be the emitters of migrants have had to generate, with greater or lesser success both nationally and regionally, ordinary and extraordinary migration regulatory tools to respond to the rapid intensification of the current Venezuelan migratory flows. This fact beyond implementing policies for the reception and integration of this population marks a new moment that represents a huge challenge both for the receiving States and for the young Ibero-American institutional migration system. Therefore, we can say that measures to adopt reception and solidarity policies, despite being supported by organs of the multilateral system such as UNHCR and IOM, are not found as guidelines for national and regional action, at the expense of the reactions of the respective public opinions and the influence of what to do of the neighboring countries in the face of the problem.

Keywords: Venezuela, migration, migration policies and governance, Venezuelan diaspora

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Authors: Giovanna X. De Moura, Fernando A. Starepravo

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In recent years, the discussion of women in sports has been part of the political agenda in several countries. However, in the Brazilian scope, it is possible to say that women's sport has not become a social problem recognized by political actors and, therefore, it has not entered the country's governmental agenda. Thus, this work aimed to analyze why sport for women is not on the Brazilian government's agenda. For this, it was interviewed six women considered to be stakeholders in sports, that is, women who influence or are influenced by sports. The interviews were based on a semi-structured script and carried out in the year 2022. Due to the difficulties of commuting and of the schedule of the interviewees, some interviews were carried out in person, others by video call or telephone and others by WhatsApp. The interviews were transcribed and analyzed using Bardin's Content Analysis. As a result, from the stakeholders' perception, it was ascertained that women's sport is not considered a political problem because both sport and politics are considered masculinized fields, making it difficult for women to be present in both spaces. Besides, not only the sport of women but sport in general, is seen as just a marketing tool and a way of getting financial return for companies, being neglected in government plans. Due to this fact, private institutions, corporative means, federations and confederations have been mobilized in the creation of policies that seek changes in the current scenario. Despite this, two PLs (PL 6263/2019 and PL 5297/2020) have been in the process since 2019 but have not been approved yet due to the failure to submit amendments within the established deadline. In order to change this reality, the ones surveyed suggested that there should be not only different types of women represented on the most varied fronts of sports but also more visibility of the issue of women in this field. Furthermore, they mentioned the importance of the creation of specific plans and policies that guarantee a safe place for women and that are consolidated as State policies. In addition, the need for more women in political decision-making positions was also mentioned. It was concluded that women's sport appears on the agenda at a secondary level since it is included on the legislative, and political agenda but not in the executive branch. In addition, there is not enough movement and mobilization in favor of women's sports for it to become a discussion in the field of politics. Regarding the Multiple Streams Model, women's sport is present only in the ideas stream, as there are solutions and ideas for improvements in this field. Finally, it was pointed that there is still a strong dependence on the State for the creation of policies that seek improvements in the participation of girls and women in sport, hence, being necessary the creation of multicentric policies, including non-governmental agents in the process of elaborating policies.

Keywords: agenda, politics, stakeholders, women’s sport

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Authors: Wolfgang Haupt

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When considering the future city one repeatedly comes across two sometimes sparsely differentiated terms: Sustainable and smart. ‘A European Strategy for Smart, Sustainable, and Inclusive Growth’, this is how the European Commission named its current growth strategy. Thus, Europe should become smarter and more sustainable. Both, the smart and the sustainable city represent a positive vision of urban development as well as a subject area for contemporary and future urban policies. However, more clarity on what is actually behind these terminologies is required. The paper analyses how the terms are defined academically and how this academic understanding is represented in the funding mechanisms of European urban policies. The theoretical framework is mainly based on sources such as journal articles and policy reports. It became clear that despite some similarities, such as the broad field of work or the tendency to operationalize the terms by defining sub-categories, both ideas are distinctly different in terms of the development history, the main driving forces behind and the theoretical scope. Moreover, the significantly more comprehensively defined term sustainability has found its way into the centre of European regional funding policies. On the contrary, the smart city vision still lacks terminological and content-related clarity and as a consequence, the corresponding European funding landscape is more small-scaled and less customized.

Keywords: European spatial policy, European union, smart city, urban sustainable development

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Authors: Yunqi Wang

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Benefiting from the demographic dividend, China has enjoyed export-led economic growth since 1978. While Lewis's model marks the structural transformation from the low-wage 'subsistence' sector to the 'modern sector' as the end of labour surplus, the Chinese government seems eager to extend such benefit by promoting a series of fertility encouragement policies, contrasting to its firm and strict birth control since last century. Based on a Attride-Stirling’s thematic analysis of interviews with unmarried female millennials in China, this paper argues that the young female generation responded to current fertility policies negatively, where the policy ineffectiveness and irresponsiveness have further worsened their marriage and childbirth reluctance. Instead of focusing on changes in wage level, this research contributes a qualitative perspective to the existing theoretical debate on the Lewis turning point, implying an inevitable end of demographic dividend in China. Highlighting the greater focus on female consciousness among the younger generation, it also suggests a policy orientation towards resolving outdated social norms to accommodate the rising female consciousness since millennials will become the childbirth mainstay in forthcoming years.

Keywords: lewis model, fertility policy, demographic dividend, one-child policy

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Authors: Emin Avcı, Çiydem Çatak

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The recent economic crisis have shown that procyclicality, which could threaten the stability and growth of the economy, is a major problem of financial and real sector. The term procyclicality refers here the cyclical behavior of banks that lead them to follow the same patterns as the real economy. In this study, leverage which demonstrate how a bank manage its debt, is chosen as bank specific variable to see the effect of changes in it over the economic cycle. The procyclical behavior of Turkish banking sector (commercial, participation, development-investment banks) is tried to explain with analyzing the relationship between leverage and asset growth. On the basis of theoretical explanations, eight different leverage ratios are utilized in eight different panel data models to demonstrate the procyclicality effect of Turkish banks leverage using monthly data covering the 2005-2014 period. It is tested whether there is an increasing (decreasing) trend in the leverage ratio of Turkish banks when there is an enlargement (contraction) in their balance sheet. The major finding of the study indicates that asset growth has a significant effect on all eight leverage ratios. In other words, the leverage of Turkish banks follow a cyclical pattern, which is in line with those of earlier literature.

Keywords: banking, economic cycles, leverage, procyclicality

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Authors: Pelin Sonmez

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Health services provided to refugees and asylum seekers are very important and of priority due to their physical damages during the war and conflict situation, possible diseases in migration journey and negative psychological mood. However, there are very poor international standards in regards to providing health services to these people, which in return cause each country to differ their regulations. United Nations Sustainable Development Goals that are in effect as of 2016 assure that attention should be provided to non-citizen vulnerable groups in terms of health policies and they should be included in the global development, thereby aims to decrease the problems arising from providing health services to refugees. Though, we should not forget that these are the recent and yet uncertain attempts, mostly, as a result of Syrian War's forced migration wave. As an attempt to reveal different attitudes of international actors, this study compares/analyzes health services provided to refugees and asylum seekers on the basis of Turkey-EU policy implementations. While doing so, two research data will be focused upon. In this globe, results of the focus group interviews and a field study in a specific work (from its health related section) which was done in 2017 to 5000 Syrian women living in Turkey and presented to Republic of Turkey Disaster and Emergency Management Presidency will be utilized.

Keywords: European Union, health policies, refugee, Syrian women, Turkey

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