Search results for: economic diplomacy

Authors: Bilgehan Gultekin, Tuba Gultekin

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Diplomatic public relations gives an ideal concept for recognition of palestine state in all over the europe. The first step of official recognition is approval of palestine state in international political organisations such as United Nations and Nato. So, diplomatic public relations provides a recognition process in communication scale. One of the aims of the study titled “Diplomatic Public Relations Techniques for Recognition of Palestine State in Europe” is to present some communication projects on diplomatic way. The study also aims at showing communication process at diplomatic level. The most important level of such kind of diplomacy is society based diplomacy. Moreover,The study provides a wider perspective that gives some creative diplomatic communication strategies for attracting society. To persuade the public for official recognition also is key element of this process. The study also finds new communication routes including persuasion techniques for society. All creative projects are supporting parts in original persuasive process of official recognition of Palestine.

Keywords: diplomatic public relations, diplomatic communication strategies, diplomatic communication, public relations

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Authors: Philippe Gugler

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This contribution reflects some important questions regarding inter alia the economic development occurring in the light of the ASEAN’s goal of creating the ASEAN Economic Community (AEC) by 2015. We observe a continuing economic growth of GDP per capita over recent years despite the negative effects of the world economic crisis. IMF forecasts indicate that this trend will continue. The paper focuses on the analysis and comparison of economic growth trends of ASEAN countries.

Keywords: ASEAN, convergence, divergence, economic growth, globalization, integration

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Authors: Mario Gómez, José Carlos Rodríguez

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The causal relationship between energy consumption and economic growth has been an important issue in the economic literature. This paper studies the causal relationship between electricity consumption and economic growth in Mexico for the period of 1971-2011. In so doing, unit root tests and causality test are applied. The results show that the series are stationary in levels and that there is causality running from economic growth to energy consumption. The energy conservation policies have little or no impact on economic growth in México.

Keywords: causality, economic growth, energy consumption, Mexico

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Authors: Jutamas Wisansing, Thanakarn Vongvisitsin, Udom Hongchatikul

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Food could be used to open up a dialogue about local heritage. Contributing to the world sustainable consumption mission, this research aims to explore the linkages between agriculture, senses of place and performing arts. Thailand and its destination marketing ‘Discover Thainess’ was selected as a working principle, enabling a case example of how the three elements could be conceptualized. The model offered an integrated institutional arrangement where diverse entities could be formed to design how Thainess (local heritage) could be interpreted and embedded into an art of food. Using case study research approach, three areas (Chiangmai, Samutsongkram and Ban Rai Gong King) representing 3 different scales of tourism development were selected. Based on a theoretical analysis, a working model was formulated. An action research was then designed to experiment how the model could be materialized. Brainstorming elicitation and in-depth interview were employed to reflect on how each element could be integrated. The result of this study offered an innovation on how food tourism could be profoundly interpreted and how tourism development could enhance value creation for agricultural based community. The outcomes of the research present co-creative multi-stakeholder model and the value creation method through the whole supply chain of Thai gastronomy. The findings have been eventually incorporated into ‘gastro-diplomacy’ strategy for Thai tourism.

Keywords: community-based tourism, gastro-diplomacy, gastronomy tourism, sustainable tourism development

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Authors: Susan P. Teru, Jerome Nyameh

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Many contemporary organizations are placing a greater emphasis on business enterprise systems as a means of generating higher levels of economic development. Many business research and literature has also concur that enterprise drive economic development, giving little or no credit to social enterprise, whose profit is reinvest to the community development compare to the business enterprise that share their profit to shareholders. Economic development includes economic policies that affect the beneficiaries of the economic entity. We suggest that producing social enterprise increments may be best achieved by orienting social enterprise entrepreneurs system to promote economic development. To this end, we describe a new approach to the social enterprise process that includes social entrepreneur and the key drivers of economic development at each stage. We present a model of social enterprise that incorporates the main ideas of the paper and suggests a new perspective for thinking about how to foster and manage social enterprise to achieve high levels of economic development.

Keywords: social enterprise, economic development, Nigeria, business and management

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Authors: Marinko Skare, Malgorzata Porada Rochon

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This paper study the link between energy justice and economic growth. The link between energy justice and growth has not been extensively studied. Here we study the impact and importance of energy justice, as a part of the energy transition process, on economic growth. Our study shows energy justice growth is an important determinant of economic growth and development that should be addressed at the industry and economic levels. We use panel data modeling and causality testing to research the empirical link between energy justice and economic growth. Industry and economy-level policies designed to support energy justice initiatives are beneficial to economic growth. Energy justice is a necessary condition for green growth and sustainability targets.

Keywords: energy justice, economic growth, panel data, energy transition

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Authors: Raluca-Ioana Antonescu

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The paper treats about the Korean public diplomacy and national branding strategies, and how the Korean language textbooks were used in order to construct the Korean national image. The field research of the paper stands at the intersection between Linguistics and Political Science, while the problem of the research is the role of language and culture in national branding process. The research goal is to contribute to the literature situated at the intersection between International Relations and Applied Linguistics, while the objective is to conceptualize the idea of national branding by emphasizing a dimension which is not much discussed, and that would be the education as an instrument of the national branding and public diplomacy strategies. In order to examine the importance of language upon the national branding strategies, the paper will answer one main question, How is the Korean language used in the construction of national branding?, and two secondary questions, How are explored in literature the relations between language and national branding construction? and What kind of image of South Korea the language textbooks for foreigners transmit? In order to answer the research questions, the paper starts from one main hypothesis, that the language is an essential component of the culture, which is used in the construction of the national branding influenced by traditional elements (like Confucianism) but also by modern elements (like Western influence), and from two secondary hypothesis, the first one is that in the International Relations literature there are little explored the connections between language and national branding, while the second hypothesis is that the South Korean image is constructed through the promotion of a traditional society, but also a modern one. In terms of methodology, the paper will analyze the textbooks used in Romania at the universities which provide Korean Language classes during the three years program B.A., following the dialogs, the descriptive texts and the additional text about the Korean culture. The analysis will focus on the rank status difference, the individual in relation to the collectivity, the respect for the harmony, and the image of the foreigner. The results of the research show that the South Korean image projected in the textbooks convey the Confucian values and it does not emphasize the changes suffered by the society due to the modernity and globalization. The Westernized aspect of the Korean society is conveyed more in an informative way about the Korean international companies, Korean internal development (like the transport or other services), but it does not show the cultural changed the society underwent. Even if the paper is using the textbooks which are used in Romania as a teaching material, it could be used and applied at least to other European countries, since the textbooks are the ones issued by the South Korean language schools, which other European countries are using also.

Keywords: confucianism, modernism, national branding, public diplomacy, traditionalism

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Authors: Ugur Karakaya, Hasan Bulent Kantarcı

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In this study, firstly democratic thoughts which directly or indirectly affect economic development and/or the interaction between authoritarian regimes and the economic development and the direction and channels of this interaction were studied and then the study tried to determine how democracy affects economic development. It was concluded that the positive contributions of democracy to economic development were more determinant than the effects that were either negative or restrictive in terms of development. When compared to autocracy, since democracy is more successful in managing social conflicts, ensuring political stability and preventing social disasters such as famine, it contributes more to economic development. Democracy also facilitates delegation of authority, provides a stable investment environment and accelerates mobilization of resources in accordance with economic growth/development. Democracy leads to an increase in human capital accumulation and increases the growth rate through reducing income inequality. It can be said that democratic regimes are the most appropriate ones in terms of increasing economic performance and supporting economic development through their strong institutional structures and the assurance they will ensure in property rights.

Keywords: democracy, economic growth, economic freedom, autocratic regime

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Authors: S. Khalifa, R. Chkoundali

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The specific role of banks in economic development varies, depending on scope. Firstly, the participation of banks in economic development focus around providing credit and services to generate revenues, which are then invested back into a local, national or international community. The specific roles banks play in the economic development of a small community differ from the role banks play in national or international economic development. Although the role can vary, factors such as access to credit and bank investment policies or practices remain constant, no matter the scope of economic development. This paper provides an overview of the economic situation of Africa and its short-term outlook. He referred to the progress made in the implementation of the Medium-Term Strategy (2008-2012) and some major achievements of the Bank, as the speed and flexibility with which she responded to the oil crisis, food and financial.

Keywords: economic growth, bank, Africa, economic development

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Authors: Mergleda Hodo

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All national governments aim to achieve economic equilibrium to build sustainable welfare, political stability, and economic equilibrium. There are various instruments to stimulate economic development and growth and achieve macroeconomic objectives. After the collapse of the political and economic system in the 1990s, some countries faced the complex challenge of economic development. This study aims to determine, based on empirical research, whether and to what extent tax revenue has an impact on the economic development of Albania. Furthermore, it gives an overview of the ways in which high tax burdens on the western Balkan countries have negatively affected foreign investment and reduced economic growth. This analysis is important for these selected countries, as the financial system has changed significantly over the years and has been affected significantly by a period of economic transition. The analysis is performed based on secondary data possessed by the World Bank and the central bank of each participating country between 2005 and 2018. The research findings indicate that tax policy affects, to a significant extent, the economic development of Albania. An efficient tax system is when individuals are willing to pay tax liability which will help in improving the economic well-being of a country.

Keywords: tax, development, economic growth, tax revenue

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Authors: Keunsu Han

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Sports has been used as a valuable tool for countries to enhance brand image and to pursue higher political interests. Olympic games are one of the best examples as a mega sport event to achieve such nations’ purposes. The term, “soft power,” coined by Nye, refers to country’s ability to persuade and attract foreign audiences through non-coercive ways such as cultural, diplomatic, and economic means. This concept of soft power provides significant answers about why countries are willing to host a mega sport event such as Olympics. This paper reviews the concept of soft power by Nye as a theoretical framework of this study to understand critical motivation for countries to host Olympics and examines the effects of 2016 Rio Olympics as the state’s soft power strategy. Thorough data analysis including media, government and private-sector documents, this research analyzes both negative and positive aspects of the nation’s image created during Rio Olympics and discusses the effects of Rio Olympics as Brazil’s chance to showcase its soft power by highlighting the best the state has to present.

Keywords: country brand, olympics, soft power, sport diplomacy, mega sport event

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Authors: Fatemeh Noughani, Seyd Mehdi Sadat

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Violence against women as a global problem is not confined to any geographical and cultural area. The thoughts and opinions propagating the violence are seen in many cultural beliefs of societies. However, the shape, type and nature of it is different in different cultures. Also, many Iranian women have experienced different dimensions of domestic violence in their lives. This experience may vary with the family economic situation and poverty. Therefore, this research had studied the effects of family economic situation (poverty) on the increase of domestic violence against women. The sample of this study includes 126 married women older than 8 years old and they were selected by stratified and quota sampling method. The results showed that there is a direct and significant between the family economic situation and employment situation of women and domestic violence against women. More precisely, having economic capital, financial ability, affects the couple’s relationship and will solve their many social problems and perhaps, it seem that in terms of economic violence, the men who have higher economic capital, exert the lowest level of economic violence against their wives.

Keywords: economic situation , domestic violence, poverty, Iran

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Authors: Nazira B. Boldurukova

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The main aim of this article is to give the information about life and social and diplomatic work of Zhou Enlai, to prove his identity in his impact to the history of the world; to show his place in the organization of internal and foreign policy and in the peaceful international relationships of China with other countries.

Keywords: China, foreign policy of China, identity, politician, diplomacy, Zhou Enlai

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Authors: Zhao Xinlei

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In general, interstate relations are diverse and include economic, political, military, and diplomatic. Therefore, by analyzing the development of the relationship between Malaysia and China, we can better verify how the Hirschman effect works between small countries and great powers. This paper mainly adopts qualitative research methods and uses Malaysia's 2020-2022 political crisis as a specific case to verify the practice of the Hirschman effect between small and large countries. In particular, the interest groups in small countries that are closely related to trade with extraordinary abilities, as the primary beneficiaries in the development of trade between the two countries, although they may use their resources to a certain extent to influence the decisions of small countries towards great powers, they do not fundamentally determine the small countries' response to large countries. In this process, the relative power asymmetry between states plays a dominant role, as small states lack trust and suspicion in political diplomacy towards large states based on the perception of threat arising from the relative power asymmetry. When developing bilateral relations with large countries, small states seek practical cooperation to promote economic and trade development but become more cautious in their political ties to avoid being caught in power struggles between large states or being controlled by them. The case of Malaysia-China relations also illustrates that despite the ongoing political crisis in Malaysia, which saw the country go through the transition from (Perikatan Nasional) PN to (Barisan Nasional) BN, different governments have maintained a pragmatic and proactive economic policy towards China to reduce suspicion and mistrust between the two countries in political and diplomatic affairs, thereby enhancing cooperation and interactions between the two countries. At the same time, the Malaysian government is developing multi-dimensional foreign relations and actively participating in multilateral, regional organizations and platforms, such as those organized by the United States, to maintain a relative balance in the influence of the US and China on Malaysia.

Keywords: Hirschman effect, interest groups, Malaysia, China, bilateral relations

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Authors: Fekri Shawtari

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The banking sector plays a very crucial role in the economic development of the country. As a financial intermediary, it has assigned a great role in the economic growth and stability. This paper aims to examine the empirically the relationship between banking industry and economic growth in state of Qatar. We adopt the VAR vector error correction model (VECM) along with Granger causality to address the issue over the long-run and short-run between the banking sector and economic growth. It is expected that the results will give policy directions to the policymakers to make strategies that are conducive toward boosting development to achieve the targeted economic growth in current situation.

Keywords: economic growth, banking sector, Qatar, vector error correction model, VECM

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Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

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This paper adopted a retrospective review of China’s assistance to Latin America from the1950s to 2020. Findings suggested that China’s assistance to Latin America can be roughly divided into five stages: The 1950s to 1960s was the initial stage of China’s assistance to Latin America, mainly focusing on the establishment of diplomatic relations with Cuba and other Latin American countries. The strategy has a strong ideological basis. The 1980s was the stage of development of China's aid to Latin America, which was characterized by consolidating and expanding diplomatic space, emphasizing the spirit of cooperation of equality, mutual benefit, and common development. 90-20 marked the further development of diplomatic relations with Latin American countries, plus domestic market-oriented reforms, emphasizing the importance of economic considerations and less ideological orientation, and this period also witnessed more Chinese state-owned enterprises going out to invest in Latin America. 2010-2019 marked the further development of Latin American relations. This paper contributes to the literature of diplomacy and health assistance to Latin America and highlights the importance of foreign aid and health assistance in sealing bilateral diplomatic relations.

Keywords: aid, china, latin america, bilateral relations

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Authors: Morteza Ghourchi, Meraj Jafari, Atena Soheilazizi

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Today, with the globalization of communications and the connection of countries within the framework of the global economy, free zones play the most important role as the engine of global economic development and globalization of countries. In this regard, corridors have a fundamental role in linking countries and free zones physically with each other. One of these corridors is the New Silk Road corridor (One Belt, One Road initiative), which is being built by China to connect with European countries. In connecting this corridor to European countries, Iran and Turkey are among the countries that play an important role in linking China to European countries through this corridor. The New Silk Road corridor, by connecting Iran’s free zones (Sarakhs and Maku) and Turkey’s free zones (Anatolia and Europe), can provide the best opportunity for expanding economic cooperation and regional development between Iran and Turkey. It can also provide economic links between Iran and Turkey with Central Asian countries and especially the port of Khorgos. On the other hand, it can expand Iran-Turkey economic relations more than ever before with Europe in a vast economic network. The research method was descriptive-analytical, using library resources, documents of Iranian free zones, and the Internet. In an interview with Fars News Agency, Mohammad Reza Kalaei, CEO of Sarakhs Free Zone, said that the main goal of Sarakhs Special Economic Zone is to connect Iran with the Middle East and create a transit corridor towards East Asian countries, including Turkey. Also, according to an interview with Hussein Gharousi, CEO of Maku Free Zone, the importance of this region is due to the fact that Maku Free Zone, due to its geographical location and its position on the China-Europe trade route, the East-West corridor, which is the closest point to the European Union through railway and transit routes, and also due to its proximity to Eurasian countries, is an ideal opportunity for industrial and technological companies. Creating a transit corridor towards East Asian countries, including Turkey, is one of the goals of this project Free zones between Iran and Turkey can sign an agreement within the framework of the New Silk Road to expand joint investments and economic cooperation towards regional convergence. The purpose of this research is to develop economic links between Iranian and Turkish free zones along the New Silk Road, which will lead to the expansion and development of regional cooperation between the two countries within the framework of neighboring policies. The findings of this research include the development of economic diplomacy between the Secretariat of the Supreme Council of Free Zones of Iran and the General Directorate of Free Zones of Turkey, the agreement to expand cooperation between the free zones of Sarakhs, Maku, Anatolia, and Europe, holding biennial conferences between Iranian free zones along the New Silk Road with Turkish free zones, creating a joint investment fund between Iran and Turkey in the field of developing free zones along the Silk Road, helping to attract tourism between Iranian and Turkish free zones located along the New Silk Road, improving transit infrastructure and transportation to better connect Iranian free zones to Turkish free zones, communicating with China, and creating joint collaborations between China’s dry ports and its free zones with Iranian and Turkish free zones.

Keywords: network economy, new silk road (one belt, one road initiative), free zones (Sarakhs, Maku, Anatolia, Europe), regional development, neighborhood policies

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Authors: Gechbaia Badri

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The paper discusses in today's world of economic globalization and development of innovative economic integration is one of the issues of the day in the world. The article analyzes the innovation economy development trends in EU, showed the innovation economy formation of the main problems and results, also the development of innovative potential of the economy. The author reckons that the European economy will contribute to the development of innovative economic space of speech in recent years developed a financial and economic crisis.

Keywords: European Union, innovative system, innovative development, innovations

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Authors: Aneri Mehta, Krunal Mehta

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A doctrine, any doctrine, incorporates a set of beliefs or principles held by a body of persons. A national nuclear doctrine represents, therefore, the collective set of beliefs or principles held by the nation in regard to the utility of its nuclear weapons. India’s foreign policy has been profoundly affected by the nuclear explosions conducted in May 1998. The departure from the professed peaceful nuclear policies has had several implications for India’s defense and foreign policies. The explosions in Pokhran have aggravated tensions in south Asia by disrupting diplomatic initiatives with Pak and China. Diplomacy has been reduced to damage control. The object of India’s nuclear deterrence is to persuade an adversary that the costs to him of seeking a military solution to his political problems with India will far outweigh the benefits. The paper focuses on India’s guidelines governing nuclear policy, development of nuclear materials for effective deterrence as well as civil development purpose. The paper finds that security concerns and technological capabilities are important determinants of whether India develops a nuclear weapons programs, while security concerns, economic capabilities, and domestic politics help to explain the possession of nuclear weapons.

Keywords: foreign policy, nuclear deterrence, nuclear policy, development

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Authors: Amna Javed, Hisashi Masuda, Youji Kohda

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This study examines the value analysis in Islamic and conventional banking services in Pakistan. Many scholars have focused on co-creation of values in services but mainly economic values not non-economic. As Islamic banking is based on Islamic principles that are more concerned with non-economic values (well-being, partnership, fairness, trust worthy, and justice) than economic values as money in terms of interest. This study is important to know the providers point of view about the co-created values, because, it may be more sustainable and appropriate for today’s unpredictable socioeconomic environment. Data were collected from 4 banks (2 Islamic and 2 conventional banks). Text mining technique is applied for data analysis, and values with 100% occurrences in Islamic banking are chosen. The results reflect that Islamic banking is more centric towards non-economic values than economic values and it promotes team work and partnership concept by applying Islamic spirit and trust worthiness concept.

Keywords: economic values, Islamic banking, non-economic values, value system

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Authors: Dimitrios J. Dimitriou

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It is widely recognised that the assets portfolio development is helping to enhance economic growth, productivity and competitiveness. While numerous studies and reports certify the positive effect of investments in large infrastructure investments on the local economy, still, the methodology to estimate the contribution in economic development is a challenging issue for researchers and economists. The key question is how to estimate those economic impacts in each economic system. This paper provides a compact and applicable methodological framework providing quantitative results in terms of the overall jobs and income generated into the project life cycle. According to a deterministic mathematical approach, the key variables and the modelling framework are presented. The numerical case study highlights key results for a new motorway project in Greece, which is experienced economic stress for many years, providing the opportunity for comparisons with similar cases.

Keywords: quantitative modelling, economic impact, large transport infrastructure, economic assessment

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Authors: Alexander Gretchenko, Liudmila Goncharenko, Sergey Sybachin

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This article summarizes the history of the discovery of N.D. Kondratiev of large cycles of economic conditions, as well as the creation and justification of the theory of innovation-cyclical economic development of Kondratiev-Schumpeter. An analysis of it in modern conditions is providing. The main conclusion in this article is that in general terms today it can be argued that the Kondratiev-Schumpeter theory is sufficiently substantiated. Further, the possibility of making a forecast of the development of the economic situation in the direction of applying this theory in practice, which demonstrate its effectiveness, is considered.

Keywords: Kondratiev's big cycles of economic conjuncture, Schumpeter's theory of innovative economic development, long-term cyclical forecasting, dating of Kondratiev cycles

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Authors: Vera Jancurova

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People are, in general, exposed to behavioral biases, however, the degree and impact are affected by experience, knowledge, and other characteristics. The purpose of this article is to study two of defined behavioral biases, the overconfidence and self-attribution bias, and its impact on economic and non-economic students at different stage of the study. The research method used for the purpose of this study is a controlled field study that contains questions on perception of own confidence and self-attribution and estimation of limits to analyse actual abilities. The results of the research show that economic students seem to be more overconfident than their non–economic colleagues, which seems to be caused by the fact the questionnaire was asking for predicting economic indexes and own knowledge and abilities in financial environment. Surprisingly, the most overconfidence was detected by the students at the beginning of their study (1st-semester students). However, the estimations of real numbers do not point out, that economic students have better results by the prediction itself. The study confirmed the presence of self-attribution bias at all of the respondents.

Keywords: behavioral finance, overconfidence, self-attribution, heuristics and biases

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Authors: Ayşen Edirneligil, Mehmet Mucuk

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In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: external debt, economic growth, Turkish economy, time series analysis

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Authors: Arkaprabha Bhattacharyya, Makarand Hastak

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The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: economic growth, infrastructure development, infrastructure projects, strategic investment

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Authors: Nipuli Gajanayake

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The Russian military role beyond its national frontier has become a debatable hot topic in the international political arena. It’s advanced, and strategic responses in combating regional and international security problems have always been a factor to debate and criticize. Under such critical circumstances, Russia is attentive to play its military role according to the provisions of the Military Doctrine of the Russian Federation. Most importantly, the legal basis of the doctrine has also consisted with the generally recognized principles and norms of international law. Therefore, Russian international military assistances are pledged to accomplish international peace and security. The expansion of Russian military participation in the United Nations Peacekeeping operations, and military- political, and technical cooperation have largely evident the great effort of Russia in maintaining and restoring international peace and security. Moreover, the conflict management diplomacy and the development of dialogue with nation states to confront military risks and threats can also identify as a part of preserving international peace and security. In addition, Russia strives to strengthen the system of collective security with regional and international organizations through the legal framework of the Collective Security Treaty Organization (CSTO). Maintaining cooperative ties with the Commonwealth of Independent States (CIS), the Organization for Security and Cooperation in Europe (OSCE) and the Shanghai Cooperation Organization (SCO) have highlighted the Russian deliberation on maintaining regional peace and security. Nevertheless, the extension of cordial relations with nation states and providing of military assistances during tensions and conflicts on their territories can also underscore as Russians commitments on maintaining international peace and security. Observing and recognizing the disparity between the West portrayed terms like ‘illegal Russian interventions’ and the comprehensive reality behind the ‘Russian military assistances’ are important to understand. However, a lopsided vision or a perspective towards the Russian international military role would not present a clear understanding about its valued and also dedicated hard work on maintaining international peace and security.

Keywords: collective security, diplomacy, international military role of Russia, international peace and security

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Authors: Bernur Acikgoz

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The purpose of this paper is to investigate the effects of public spending on economic growth and examine the sources of economic growth in developed countries since the 1990s. This paper analyses whether public spending effect on economic growth based on Cobb-Douglas Production Function with the two econometric models with Autoregressive Distributed Lag (ARDL) and Dynamic Fixed Effect (DFE) for 21 developed countries (high-income OECD countries), over the period 1990-2013. Our models results are parallel to each other and the models support that public spending has an important role for economic growth. This result is accurate with theories and previous empirical studies.

Keywords: public spending, economic growth, panel data, ARDL models

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Authors: Heeho Kim, Byeong-Hae Sohn

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This study has examined the culture commonality of Northeast Asian countries based on Confucian values, and their relations to institutional economic integration. This study demonstrates that Confucian values inherent in the Northeast Asian countries have served as the cultural ethos for the rapid economic growth of this region since the 1960s and will be able to form the foundation of Northeast Asian values in the future. This paper re-appreciates these cultural values as a necessary condition for regional integration to catalyze the stagnated discussions about economic integration and extends its inter-weaving connection role for intra-regional transaction among China, Japan and Korea.

Keywords: Confucianism, Northeast Asia, economic integration, economic growth, regional conflicts

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Authors: Manoela Cabo da Silva, Elton Fernandes, Ricardo Pacheco, Heloisa Pires

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This study examined cointegration and causal relationships between economic growth and regular domestic and international passenger air transport in Brazil. Total passengers embarked and disembarked were used as a proxy for air transport activity and gross domestic product (GDP) as a proxy for economic development. The test spanned the period from 2000 to 2015 for domestic passenger traffic and from 1995 to 2015 for international traffic. The results confirm the hypothesis that there is cointegration between passenger traffic series and economic development, showing a bi-directional Granger causal relationship between domestic traffic and economic development and unidirectional influence by economic growth on international passenger air transport demand. Variance decomposition of the series showed that domestic air transport was far more important than international transport to promoting economic development in Brazil.

Keywords: air passenger transport, cointegration, economic growth, GDP, Granger causality

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Authors: Temesgen Yaekob Ergano, Sure Pulla Rao

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The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively.

Keywords: financial development, economic growth, Sub-Saharan Africa, system GMM analysis, financial indicators.

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