Search results for: economic order policy

Authors: I. L. Yakushev

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Economic sanctions are an integral part of the foreign policy repertoire of States. Increasingly, States and international organizations are resorting to sanctions to address a variety of issues -from fighting corruption to preventing the use of nuclear weapons. Over time, the ways in which economic sanctions have been used have changed, especially over the past two decades. In the late 1990s, the recognition of the humanitarian harm of economic sanctions and the "War on Terrorism" after the events of September 11, 2001, led to serious changes in the structure and mechanisms of their application. Questions about how these coercive tools work, when they are applied, what consequences they have, and when they are successful are still being determined by research conducted in the second half of the 20th century. The conclusions drawn from past cases of sanctions may not be fully applicable to the current sanctions policy. In the second half of the 20th century, most cases of sanctions were related to the United States, and it covered restrictions on international trade. However, over the past two decades, the European Union, the United Nations, and China have also been the main initiators of sanctions. Modern sanctions include targeted and financial restrictions and are applied against individuals, organizations, and companies. Changing the senders, targets, stakeholders, and economic instruments used in the sanctions policy has serious implications for effectiveness and results. The regulatory and bureaucratic infrastructure necessary to implement and comply with modern economic sanctions has become more reliable. This evolution of sanctions has provided the scientific community with an opportunity to study new issues of coercion and return to the old ones. The economic sanctions research program should be developed to be relevant for understanding the application of modern sanctions and their consequences.

Keywords: global analysis, economic sanctions, targeted sanctions, foreign policy, domestic policy, United Nations, European Union, USA, economic pressure

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Authors: E. Kharaishvili

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The paper shows the necessity of farm diversification in accordance with the current trends in agricultural sector of Georgia. The possibilities for the diversification and the corresponding economic policy are suggested. The causes that hinder diversification of farms are revealed, possibilities of diversification are suggested and the ability of increasing employment through diversification is proved. Index of harvest diversification is calculated based on the areas used for cereals and legumes, potatoes and vegetables and other food crops. Crop and livestock production indexes are analyzed, correlation between crop capacity index and value-added per one worker and one ha is studied. Based on the research farm diversification strategies and priorities of corresponding economic policy are presented. Based on the conclusions relevant recommendations are suggested.

Keywords: farm diversification, diversification index, agricultural development policy

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Authors: Nattapol Pourprasert

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This study has an objective to analyze foreign policy of member states in globalization current, aiming to answer that the foreign policy of member states have been changed or remained the same and there are any factors affecting changing of foreign policy of the member states. From the study results, it is found that the foreign policy of Thailand is a friendly foreign policy with all states. The policy of Indonesia is more opened because of a change in leader, allowing more democratic development in the country; the government has proceeded with friendly foreign policy with the states in order to bring funds into the state. The foreign policy of Malaysia is not much changed as there is no changing in the leader; the policy of Malaysia has reconciled relations with main city of Indian and Chinese residing in the country in order to bring investments into the country and to relieve tensions in the country. The foreign policy of the Philippines has proceeded with policy under the ASEAN framework and emphasized on international Islam communities. The foreign policy of Singapore has the least changed as the Singapore's policy focuses on internal trade since the state was found. As for the foreign policy of Brunei Darussalam, Brunei has a little role in the international stage; the state having closest relationship as from the view of history is Singapore as the Singaporean has invested in retailing business in Brunei. The foreign policy of Vietnam has emphasized on an omnidirectional foreign policy in order to compete with several states in global stage. The foreign policy of Myanmar has proceeded with a friendly foreign policy with all ASEAN member states, the East-west Corridor transportation line from Myanmar through Thailand and Lao to Vietnam has been developed. As for the foreign policy of Lao, In 2001, the Thai government and Lao government held a discussion which Thailand reaffirmed the position not to support the anti-Lao group. The foreign policy of Cambodia has proceeded with more openness, having good relation with China, Russia and USA as these states has invested in the state, especially the US company.

Keywords: globalization, public policy analysis, foreign policy, ASEAN member states

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Authors: Pouriya Angosht Baft, Farzan Safari Sabet

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Globalization should be considered as a process that has affected all areas of human activity, including the foreign policy of countries. The phenomenon of globalization has created tremendous changes in the economic, political and cultural fields. Obviously, no country can keep itself away from the new global consequences and globalization process. Dealing with the world requires formulating a realistic and intelligent foreign policy. By examining the phenomenon of globalization and its impact on foreign policy, this article aims to provide solutions for formulating a more active and effective foreign policy. The conclusion of this research is that Iran's foreign policy has gradually moved towards more realism and maintaining and strengthening national interests in the changing world has been the focus of foreign policy makers and decision makers. Strengthening the course of more realism in the future should be at the center of formulating Iran's foreign policy.

Keywords: globalization, foreign policy, international relations, realism, iran

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Authors: Kishor P. Kadam

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Foreign direct investment policy (FDI) is defined as an investment involving a long term relationship and reflecting a long duration interest and control of a resident entity in the home country (foreign direct investor or parent firm) in the host country. India has been one of the most translucent and open-minded FDI regimes among the emerging and developing economies. There is clear cut mentioned about the sectoral caps for foreign investment. The policy problems that have been identified by time to time surveys as acting as additional hurdles for FDI are laws, regulatory systems and government monopolies that do not have contemporary relevance. Foreign investment policies in the post-reforms period have emphasized greater encouragement and mobilization of non-debt creating private inflows for plunging reliance on debt flows. This paper will focus on how foreign direct investment policy changed from 1990-91 up to now. A time series data of 25 years is used for analysing the policy changes. It is observed that India has more liberal policy. The growth in number of Greenfield investments in India has been more impressive than the number of M&A deals whereas equity capital for incorporated bodies FDI inflows has been increased continuously 2014-15. India has made major changes in FDI Policy, and it has positive impact on economic development.

Keywords: FDI, India, economic development, government

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Authors: G. Erkomaishvili, E. Kharaishvili, M. Chavleishvili, N. Sagareishvili

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This paper discusses the current condition of tourism and its economic policy in Georgia. It analyzes and studies wellness tourism, as one of the directions of tourism; the newest niche in the wellness industry – triggering wellness resorts with medical ideology. The paper discusses the development tendencies of medical wellness resorts in Georgia and its main economic preferences. The main finding of the research is that Georgia is a unique place in the world according to the variety of medical recourses. This makes the opportunity to create and successfully operate medical wellness resorts, as well as develop it as a brand for Georgia in the world. The research represents the development strategies of tourism and its medical wellness resorts in Georgia, and offers recommendations based on the relevant conclusions.

Keywords: tourism, economic policy of tourism, wellness industry, medical wellness resorts

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Authors: Oduntan Kemi Olalekan

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Nigeria as the largest economy in Africa is still in its developing stage as its economy cannot be termed developed; it is still in search of economic policy that will positively affect the life of majority of her citizenry. Several policies have been employed to take care of the situation prominent among which is Structural Adjustment Programme (SAP) of Babangida Administration but it could not rescue the economy. Non-interest Banking otherwise known as Islamic Banking has been suggested as a means of developing Nigerian economy as it will enable more Nigerian have access to working capital and contribute positively to the growth of her economy. The paper investigated the level of Nigeria economic development and gave an overview of economic policies since independence, traced the genesis of non-interest banking in Nigeria and made recommendations on the adoption of the policy as an antidote to Nigeria economic development.

Keywords: economic development, Nigerian economy, non-interest banking, working capital, Islamic banking.

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Authors: Leila Jafari, Viliam Makis

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In this paper, the joint optimization of the economic manufacturing quantity (EMQ), safety stock level, and condition-based maintenance (CBM) is presented for a partially observable, deteriorating system subject to random failure. The demand is stochastic and it is described by a Poisson process. The stochastic model is developed and the optimization problem is formulated in the semi-Markov decision process framework. A modification of the policy iteration algorithm is developed to find the optimal policy. A numerical example is presented to compare the optimal policy with the policy considering zero safety stock.

Keywords: condition-based maintenance, economic manufacturing quantity, safety stock, stochastic demand

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Authors: Rakiya Abba

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This paper investigates the effect of the money supply, exchange and interest rate on economic growth in Nigeria through the application of Augmented Dickey-Fuller technique in testing the unit root property of the series and Granger causality test of causation between GDP, money supply, the exchange, and interest rate. The results of unit root suggest that all the variables in the model are stationary at 1, 5 and 10 percent level of significance, and the results of Causality suggest that money supply and exchange granger cause IR, the result further reveals two – way causation existed between M2 and EXR while IR granger cause GDP the null hypothesis is rejected and GDP does not granger cause IR as indicated by their probability values of 0.4805 and confirmed by F-statistics values of 0.75483. The results revealed that M2 and EXR do not granger causes GDP, the null hypothesis is accepted at 75percent 18percent respectively as indicated by their probability values of 0.7472 and 0.1830 respectively; also, GDP does not granger cause M2 and EXR. The Johansen cointegration result indicates that despite GDP does not granger cause M2, IR, and EXR, but there existed 1 cointegrating equation, implying the existence of long-run relationship between GDP, M2 IR, and EXR. A major policy implication of this result is that economic growth is function of and money supply and exchange rate, effective monetary policies should direct on manipulating instruments and importance should be placed on justification for adopting a particular policy be rationalized in order to increase growth in economy

Keywords: economic growth, money supply, interest rate, exchange rate, causality

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Authors: Xue Wang, Li-Wei Fan

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The technology innovation has become the driving force of social and economic development and transformation. The guidance and support of public policies is an important condition to promote the realization of technology innovation goals. Policy effectiveness evaluation is instructive in policy learning and adjustment. This paper reviews existing studies and systematically evaluates the effectiveness of policy-driven technological innovation. We used 167 articles from WOS and CNKI databases as samples to clarify the measurement of technological innovation indicators and analyze the classification and application of policy evaluation methods. In general, technology innovation input and technological output are the two main aspects of technological innovation index design, among which technological patents are the focus of research, the number of patents reflects the scale of technological innovation, and the quality of patents reflects the value of innovation from multiple aspects. As for policy evaluation methods, statistical analysis methods are applied to the formulation, selection and evaluation of the after-effect of policies to analyze the effect of policy implementation qualitatively and quantitatively. The bibliometric methods are mainly based on the public policy texts, discriminating the inter-government relationship and the multi-dimensional value of the policy. Decision analysis focuses on the establishment and measurement of the comprehensive evaluation index system of public policy. The economic analysis methods focus on the performance and output of technological innovation to test the policy effect. Finally, this paper puts forward the prospect of the future research direction.

Keywords: technology innovation, index, policy effectiveness, evaluation of policy, bibliometric analysis

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Authors: Gulnaz Erkomaishvili

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The paper discusses mineral water consumer market and development policy in Georgia, the tools and measures, which will contribute to the production of mineral waters and increase its export. The paper studies and analyses current situation in mineral water production sector as well as the factors affecting increase and reduction of its export. It’s noted that in order to gain and maintain competitive advantage, it’s necessary to provide continuous supply of high-quality goods with modern design, open new distribution channels to enter new markets, carry out broad promotional activities, organize e-commerce. Economic policy plays an important role in protecting markets from counterfeit goods. The state also plays an important role in attracting foreign direct investments. Stable business environment and export-oriented strategy is the basis for the country’s economic growth. Based on the research, the paper suggests the strategy for improving the competitiveness of Georgian mineral waters, relevant conclusions and recommendations are provided.

Keywords: mineral waters, consumer market for mineral waters, export of mineral waters, mineral water development policy in Georgia

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Authors: S. Flynn

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This paper offers a focused commentary on the impact of the current economic downturn on children with ID (intellectual disability), and their families, in the Republic of Ireland. It will examine the practical challenges, serious concerns, and trends in the field of disability with specific regard to the impact of the economic downturn in the Irish context. This includes the impact of cutbacks to services and supports, and the erosion of possibilities for life progression for children with ID as evident within the existing body of research. This focused commentary on core and seminal literature, policy and research will then be used to provide a discussion on what are the core points of learning for policy makers, researchers, practitioners and society as whole.

Keywords: children, disability, economic, recession

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Authors: Mrinal Saurabh Bhaskar, Rahul E Ravindranathan, Priyangana Borah

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Energy plays a key role and as a driving force for economic and social growth for any country. To manage the energy sources and its efficient utilization in different economic sectors, energy policy of a country is critical. The energy performance of a country is measured in Energy Intensity and India’s Energy Intensity due to several policies interventions has reduced from 0.53 toe/1000USD (2010) in the year 2000 to 0.38 toe/1000USD (2010) in the year 2014, which is about 28 per cent reduction. The Government of India has taken several initiates to manage their increasing energy demand and meet the climate change goals defined by them. The major policy milestones in India related to energy are (i) Enactment of Energy Conservation (EC) Act 2001 (ii) Establishment of Bureau of Energy Efficiency 2001 (iii) National Action Plan on Climate Change (iv) Launch of Demand Side Management schemes (v) Amendment of EC Act 2010 (vi) Launch of Perform Achieve and Trade scheme 2012. Through a critical review, this paper highlights the key energy policy interventions by India, its benefits and impact, challenges faced and efforts of the Government to overcome such challenges. Such take away would be helpful for other countries who are proposing to prepare or amend their energy policy for their different economic sectors.

Keywords: energy, efficiency, climate, policy

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Authors: Merab Khokhobaia

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The research of Georgian tourism policy challenges is important, as the tourism can play an increasing role for the economic growth and improvement of standard of living of the country even with scanty resources, at the expense of improved creative approaches. It is also important to make correct decisions at macroeconomic level, which will be accordingly reflected in the successful functioning of the travel companies and finally, in the improvement of economic indicators of the country. In order to correctly orient sectoral policy, it is important to precisely determine its role in the economy. Development of travel industry has been considered as one of the priorities in Georgia; the country has unique cultural heritage and traditions, as well as plenty of natural resources, which are a significant precondition for the development of tourism. Despite the factors mentioned above, the existing resources are not completely utilized and exploited. This work represents a study of subjective, as well as objective reasons of ineffective functioning of the sector. During the years of transformation experienced by Georgia, the role of travel industry in economic development of the country represented the subject of continual discussions. Such assessments were often biased and they did not rest on specific calculations. This topic became especially popular on the ground of market economy, because reliable statistical data have a particular significance in the designing of tourism policy. In order to deeply study the aforementioned issue, this paper analyzes monetary, as well as non-monetary indicators. The research widely included the tourism indicators system; we analyzed the flaws in reporting of the results of tourism sector in Georgia. Existing defects are identified and recommendations for their improvement are offered. For stable development tourism, similarly to other economic sectors, needs a well-designed policy from the perspective of national, as well as local, regional development. The tourism policy must be drawn up in order to efficiently achieve our goals, which were established in short-term and long-term dynamics on the national or regional scale of specific country. The article focuses on the role and responsibility of the state institutes in planning and implementation of the tourism policy. The government has various tools and levers, which may positively influence the processes. These levers are especially important in terms of international, as well as internal tourism development. Within the framework of this research, the regulatory documents, which are in force in relation to this industry, were also analyzed. The main attention is turned to their modernization and necessity of their compliance with European standards. It is a current issue to direct the efforts of state policy on support of business by implementing infrastructural projects, as well as by development of human resources, which may be possible by supporting the relevant higher and vocational studying-educational programs.

Keywords: regional development, tourism industry, tourism policy, transition

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Authors: Walaa Diab, Baher Atlam, Nadia El Nimer

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Egypt faces many obvious economic challenges, and it is so clear that a real economic transformation is needed to address those problems, especially after the recent decisions of floating the Egyptian pound and the gradual subsidy cuts that are trying to meet the needed conditions to get the IMF support of (a £12bn loan) for its economic reform program. Following the post-2008 revival of the interest in the fiscal policy and its vital role in speeding up or slowing down the economic growth. Here comes the value of this paper as it seeks to analyze the macroeconomic effects of fiscal policy in Egypt by applying A Bayesian SVAR Approach. The study uses the Bayesian method because it includes the prior information and no relevant information is omitted and so it is well suited for rational, evidence-based decision-making. Since the study aims to define the effects of fiscal policy shocks in Egypt to help the decision-makers in determining the proper means to correct the structural problems in the Egyptian economy, it has to study the period of 1990s economic reform, but unfortunately; the available data is on an annual frequency. Thus, it uses annual time series to study the period 1991: 2005 And quarterly data over the period 2006–2016. It uses a set of six main variables includes government expenditure and net tax revenues as fiscal policy arms affecting real GDP, unemployment, inflation and the interest rate. The study also tries to assess the 'crowding out' effects by considering the effects of government spending and government revenue shocks on the composition of GDP, namely, on private consumption and private investment. Last but not least the study provides its policy implications regarding the needed role of fiscal policy in Egypt in the upcoming economic reform building on the results it concludes from the previous reform program.

Keywords: fiscal policy, government spending, structural vector autoregression, taxation

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Authors: Arbolino Roberta, Boffardi Raffaele

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Achieving the highest effectiveness for the National Plans for Recovery and Resilience (NPRR) while strengthening the objectives of cohesion and reduction of intra-EU unbalances is only possible by means of strategic, coordinated, and coherent policy planning. Therefore, the present research aims at assessing and quantifying the potential impact of NPRRs across the twenty-seven European Member States in terms of economic convergence, considering disaggregated data on industrial, construction, and service sectors. The first step of the research involves a performance analysis of the main macroeconomic indicators describing the trends of twenty-seven EU economies before the pandemic outbreak. Subsequently, in order to define the potential effect of the resources allocated, we perform an impact analysis of previous similar EU investment policies, estimating national-level sectoral elasticity associated with the expenditure of the 2007-2013 and 2014-2020 Cohesion programmes funds. These coefficients are then exploited to construct adjustment scenarios. Finally, convergence analysis is performed on the data used for constructing scenarios in order to understand whether the expenditure of funds might be useful to foster economic convergence besides driving recovery. The results of our analysis show that the allocation of resources largely mirrors the aims of the policy framework underlying the NPRR, thus reporting the largest investments in both those sectors most affected by the economic shock (services) and those considered fundamental for the digital and green transition. Notwithstanding an overall positive effect, large differences exist among European countries, while no convergence process seems to be activated or fostered by these interventions.

Keywords: NPRR, policy evaluation, cohesion policy, scenario Nalsysi

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Authors: Omolade Adeleke, Jonathan Olusegun Famoroti

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This study empirically examined the monetary policy and economic growth in the classical cycles in 8 member countries of the West African Economic and Monetary Union (WAEMU), using the Markov switching model for the Two-phase Regime, covering the period 1980Q1 to 2020Q4. Our estimates suggest that these countries demonstrate to have similar business cycles, and the economies stay more in an expansion regime than a recession regime. The result further shows that the union has an average duration period of 3.1 and 15.9 quarters for contraction and expansion periods, respectively. The business cycle duration, on average, suggests 19 quarters, varying from country to country. Therefore, the formulation of policies that can enhance aggregate demand by member countries in the union is an antidote for recession and is necessary to drive the economy into equilibrium. Also, a low-interest rate and reduced inflation rate would ginger long-run economic growth.

Keywords: monetary policy, business cycle, economic growth, Markov switching

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Authors: Arjun Paul, Adrijit Goswami

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In our present work, an economic order quantity inventory model with shortages is developed where holding cost is expressed as linearly increasing function of time and demand rate is a ramp type function of time. The items considered in the model are deteriorating in nature so that a small fraction of the items is depleted with the passage of time. In order to consider a more realistic situation, the deterioration rate is assumed to follow a continuous uniform distribution with the parameters involved being triangular fuzzy numbers. The inventory manager offers his customer a discount in case he is willing to backorder his demand when there is a stock-out. The optimum ordering policy and the optimum discount offered for each backorder are determined by minimizing the total cost in a replenishment interval. For better illustration of our proposed model in both the crisp and fuzzy sense and for providing richer insights, a numerical example is cited to exemplify the policy and to analyze the sensitivity of the model parameters.

Keywords: fuzzy deterioration rate, price discount on backorder, ramp type demand, shortage, time varying holding cost

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Authors: Mohammad Mehdi Mazaheri, Mohammad Motiee Lahromi

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Recently the two matters of how to evaluate art and what the influencing economic effects on cultural values are have attracted many researchers to investigate them. Therefore, in the present article the researcher made an attempt to answer the above questions. However, the fundamental distinction between this article and the other ones is in comparing the economic value (shown by monetary phrases) with cultural values (that reflects the aesthetic values and the importance of the artist). This article shows a different and trivial distinction that has a very clearly pivotal significance in the process of cultural policy making. The economic activities would be influenced when there are cultural values. The increase of commercial activities is measured by impact assessment. In other words, the value of culture is reflected in the satisfaction of the users of cultural activities. This kind of value is measured by “willingness to pay” researches. The researcher believes that these two values are dominant in the cultural policy but they include many aspects and are presented by different kinds of communities.

Keywords: economic influence, cultural values, monetary phrases, aesthetic values

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Authors: Nicole Kalemba, Fernando Campa-Planas, Ana-Beatriz Hernández-Lara, Maria Victória Sánchez-Rebull

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The purpose of this paper is to determine the effects of service quality on US airlines’ economic performance. In order to cover this goal, it has been considered four different indexes of service quality in the air transportation industry, and also two indicators of economic performance, revenues and return on investment (ROI). Data from American airline companies over a period that covers from 2006 to 2013 have been used in order to determine if airlines’ profitability increases when service quality improves. Considering the effects on airlines’ profitability, the results confirm the positive and significant influence of service quality on the ROI of the companies in our study. Meanwhile, a non-significant effect was found for airline revenues related to quality. No previous research in this area has been done and these findings could encourage airline companies to invest in quality as far as this policy can have a return on their profitability.

Keywords: airlines, economic performance, key performance indicators, quality

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Authors: Albert T. Akume, P. D. Dahida

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This paper examines the effect of various epochs of governments on policy making in Nigeria. The character of governance and public policy making of both epochs was exclusive, non-participatory and self-centric. As a consequence the interests of citizenry were not represented, neither protected nor sought to meet fairly the needs of all groups. The introduction of the post-1999 democratic government demand that the hitherto skewed pattern of policy making cease to be a character of governance. Hence, the need for citizen participation in the policy making process. The question then is what mode is most appropriate to engender public participation so as to make the policy making process functional? Given the prevailing social, economic and political dilemmas the utilization of the direct mode of citizen participation to affect policy outcome is doubtful if not unattainable. It is due to these predicament that this paper uses the documentary research design argues for the utilization of the indirect mode of citizen participation in the policy making process so as to affect public policy outcome appropriately and with less cost, acrimony and delays.

Keywords: governance, public policy, participation, representation, civil society

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Authors: Devasheesh Mathur

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The presentation reviews the literature on the phenomenon of policy innovation. Policy innovation refers to a shift in the way policy is made or executed. The paper covers comprehensively on the definition and also the various types of policy innovations. The emphasis is on the antecedents or the determinants of innovation in policies. The author has then made an effort to discover the knowledge gap in the field of policy innovation so as to identify the future scope of research. The objective is to lend more clarity in the area of policy innovation and help in creating a framework for policy-makers as well as academics.

Keywords: literature review, policy innovation, determinants, antecedents

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Authors: Hussain Ali Bekhet, Nor Salwati Othman

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Malaysia has achieved remarkable economic growth since 1957, moving toward modernization from a predominantly agriculture base to manufacturing and—now—modern services. The development policies (i.e., New Economic Policy [1970–1990], the National Development Policy [1990–2000], and Vision 2020) have been recognized as the most important drivers of this transformation. The transformation of the economic structure has moved along with rapid gross domestic product (GDP) growth, urbanization growth, and greater demand for energy from mainly fossil fuel resources, which in turn, increase CO2 emissions. Malaysia faced a great challenge to bring down the CO2 emissions without compromising economic development. Solid policies and a strategy to reduce dependencies on fossil fuel resources and reduce CO2 emissions are needed in order to achieve sustainable development. This study provides an overview of the Malaysian economic, energy, and environmental situation, and explores the existing policies and strategies related to energy and the environment. The significance is to grasp a clear picture on what types of policies and strategies Malaysia has in hand. In the future, this examination should be extended by drawing a comparison with other developed countries and highlighting several options for sustainable development.

Keywords: energy policies, energy efficiency, renewable energy, green building, Malaysia, sustainable development

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Authors: Nura Suleiman

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The foreign policy of any country or nation is intended to promote and protect the country’s national interest. To achieve this interest, a country has to be guided by certain principles and influence of domestic and international conditions. The history of Nigerian foreign policy is directed to defend its sovereignty, independence, and territorial integrity, to promote and sustain the economic well-being of Nigerians, and promotion of Africa and world peace with justice. With the change of time and leadership, coupled with corruption, despite all the foreign policy determinants endowed with Nigeria as a country, sacrificed its foreign interest for the benefit of the western powers, by this it lost the opportunity to formulate policies according to its own need and desires.

Keywords: foreign policy, Nigeria, Western power

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Authors: Etidel Labidi

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Energy efficiency improvement is one of the means to reduce energy consumption and carbon emissions. Recently, some developed countries have implemented the tradable white certificate scheme (TWC) as a new policy instrument based on market approach to support energy efficiency improvements. The major focus of this paper is to compare the White Certificates (TWC) scheme as an innovative policy instrument for energy efficiency improvement to other policy instruments: energy taxes and regulations setting a minimum level of energy efficiency. On the basis of our theoretical discussion and numerical simulation, we show that the white certificates system is the most interesting policy instrument for saving energy because it generates the most important level of energy savings and the least increase in energy service price.

Keywords: energy savings, energy efficiency, energy policy, white certificates

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Authors: Edward Y. W. Chu

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This paper exemplifies how the political and educational considerations have shaped the heavy-handed MOI policy in Hong Kong after its handover to China in 1997. Its result, a significant degeneration of English standard among the non-elite students, will be reported based on a detailed analysis of the public exam statistics available and other empirical studies. The remedial action taken by the Education Bureau out of the economic and educational considerations will be reported with reference to the official documents. The political, economic and educational considerations exemplified in different stages of Mother-tongue MOI policy in Hong Kong are found to be influential in the MOI policy in other Asian countries as well. For example, out of rapid internationalization and marketization, there has been increasing adoption of English as the MOI in post-secondary institutions in China, Japan & South Korea. On the other hand, while colonial languages were firmly made as the MOI in former colonies such as Vietnam and India, they were greatly retrieved upon independence for political and educational reasons. Malaysia also followed the same pattern upon independence but re-introduced partial English MOI policy in late 90s hoping to capitalize favourable globalization benefits. The short-lived policy was abandoned in 2009 because of the perceived political threat of national identity as well as the lack of educational effectiveness. Based on the great majority of Asian countries studied, this paper argues that MOI policy in Asia is much more than an educational issue, and that there is a clear pattern of how decisions of MOI matters are made. Studying the history and development of MOI in Hong Kong and other Asian countries provides a unique angle to view of how Asian countries prepare for the political, economic and educational challenges nowadays.

Keywords: economics, Hong Kong, medium of instruction, politics

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Authors: Aikaterini Tsalampouni

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The European Union has long been the most developed model of economic and political integration that has brought a common market, a common currency and a standardization of national policies in certain areas in consistent with EU values and principles. To this direction, there is a parallel process of social integration that effect public policy decisions of member states. Even though social policy, i.e. social protection and moreover healthcare policy, still remains in state's responsibility to develop, EU applies different mechanisms in order to influence health policy systems, since from a more federalist point of view, EU ought to expand its regulatory and legislative roles in as many policy areas as possible. Recently, the pandemic has become a turning point for health care provision and at the same time has also highlighted the need to strengthen the EU’s role in coordinating health care. This paper analyses the EU health policy in general, as well as the response to COVID-19 pandemic with an attempt to identify indications of interaction between EU policies and the promotion of sustainable and resilient health systems. More analytically, the paper investigates the EU binding legal instruments, non-binding legal instruments, monitoring and assessment instruments and instruments for co-financing concerning health care provision in member states and records the evolution of health policies before and during the COVID-19 pandemic. The paper concludes by articulating some remarks regarding the improvement of health policy in EU. Since the ability to deal with a pandemic depends on continuous and increased investment in health systems, the involvement of the EU can lead to a policy convergence, necessary for the resilience of the systems, maintaining at the same time, a strong health policy framework in Europe.

Keywords: EU health policy, EU response to COVID-19, European Health Union, health systems in Europe

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Authors: Chenhong Peng

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Beijing, the capital city of China, is running out of water. The water resource per capita in Beijing is only 106 cubic meter, accounts for 5% of the country’s average level and less than 2% of the world average level. The tension between water supply and demand is extremely serious. For one hand, the surface and ground water have been over-exploited during the last decades; for the other hand, water demand keep increasing as the result of population and economic growth. There is a massive gap between water supply and demand. This paper will focus on addressing the water shortage in Beijing city by increasing water use efficiency in domestic sector. First, we will emphasize on the changing structure of water supply and demand in Beijing under the economic development and restructure during the last decade. Second, by analyzing the water use efficiency in agriculture, industry and domestic sectors in Beijing, we identify that the key determinant for addressing the water crisis is to increase the water use efficiency in domestic sector. Third, this article will explore the two primary causes for the water use inefficiency in Beijing: The ineffective water pricing policy and the poor water education and communication policy. Finally, policy recommendation will offered to improve the water use efficiency in domestic sector by making and implementing an effective water pricing policy and people-engaged water education and communication policy.

Keywords: Beijing, water use efficiency, domestic sector, water pricing policy, water education policy

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Authors: Abdelkader Guendouz, Fatima Zohra Adel

Abstract:

Even if both the economic and the human development are an axial pillar in its global policy, Algerian government seems to be more and more engaged in the international context aiming to reach of the so called millennium development goals, and this since its beginning. By looking closely at the Algerian economic policy, it is easy to mention the existence of several programs in which both economic and social realisations including among others, poverty reduction, enhancement of education level and conditions, woman statute and gender equity amelioration targets. The efforts of Algerian government in the field of these targets had been acheminated through three main plans, which are: -PSRE (Plan de Soutien à la Relance Economique), for the period of 2001 to 2004, initiated with about 7 billion US dollar, had been focused on three objectives, namely, poverty reduction, job creation and regional equilibrium with rural areas revitalization. -PCSC (le Programme complémentaire de soutien à la croissance économique), for the period of 2005 to 2009, with a starting funding of 114 billion US dollar. This program aims to develop public services and supporting public investments, especially in which concerns social infrastructures. Now, and at the end of the maturity of the MDGs agenda, an important question is to be asked: what are the main realizations regarding these MDGs? In order to answer this question, the present paper tries to examine the Algerian economic policy (but also the social one) by considering the MDGs challenges, for the period from 2000 to 2010, but also until 2015. This examination is focused on three main targets, namely poverty, education, and health. Firstly, statistical assessment for the Algerian economic and social situation shows that almost all MDGs had been reached during the period of 2000 to 2009 and it continues to maintain and improve them. This observation can be endorsed by invoking some achievements. Starting by the reduction of poverty, the proportion of population living with less than 1 US dollar per a day passed from 8.0 % in 2000 to 0.5 % in 2009, and 0.3 % in 2015. For education sphere, the enrolment ratio of six-year child, which is the most significant index for school attendance, is about 98 % for 2009 against 93 % in 1999, and only 43 % in 1966. Concluding with health care and relevant services; the Algerian government has accomplished big steps in providing easy access to this sector for the population. Moreover, the percentage of assisted accouchement had been raised from 91.2 % in 2000 to 97.2 % in 2009.

Keywords: Algerian economic policy, MDGs, poverty, education, health

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Authors: Gulnaz Erkomaishvili

Abstract:

Introduction. One of the most important issues of state economic policy in the 21st century is the problem of environmental protection. The Georgian government considers the green economy as one of the most important means of sustainable economic development and takes the initiative to implement voluntary measures to promote sustainable development. In this context, it is important to promote the development of ecosystem services, clean production, environmental education and green jobs.The development of the green economy significantly reduces the inefficient use of natural resources, waste generation, emissions into the atmosphere and the discharge of untreated water into bodies of water.It is, therefore, an important instrument in the environmental orientation of sustainable development. Objectives.The aim of the paper is to analyze the current status of the green economy in Georgia and identify effective ways to improve the environmental, economic policy of sustainable development. Methodologies: This paper uses general and specific methods, in particular, analysis, synthesis, induction, deduction, scientific abstraction, comparative and statistical methods, as well as experts’ evaluation. bibliographic research of scientific works and reports of organizations was conducted; Publications of the National Statistics Office of Georgia are used to determine the regularity between analytical and statistical estimations. Also, theoretical and applied research of international organizations and scientist-economists are used. Contributions: The country should implement such an economic policy that ensures the transition to a green economy, in particular, revising water, air and waste laws, strengthening existing environmental management tools and introcing new tools (including economic tools). Perfecting the regulatory legal framework of the environmental impact assessment system, which includes the harmonization of Georgian legislation with the requirements of the European Union. To ensure the protection and rational use of Georgia's forests, emphasis should be placed on sustainable forestry, protection and restoration of forests.

Keywords: green economy, environmental protection, environmental protection economic policy, environmental protection policy challanges

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