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1. Markets, Governments, and Crises in the Past and Future of the EU

Author:
Giuseppe Bertola
Publication Date:
06-2022
Content Type:
Journal Article
Journal:
Turkish Policy Quarterly (TPQ)
Institution:
Turkish Policy Quarterly (TPQ)
Abstract:
The common-market project, that after World War II aimed to prevent future wars among European Nations, evolved through crises into a complicated and unstable set of European Union policies and institutions. The COVID-19 pandemic and the war in Ukraine reinforced coordination and added common debt issuance to the supranational policy toolkit. But the NextGenEU program relies heavily on government subsidies rather than on market incentives, and Russia’s invasion of Ukraine shows that economic integration can at most move the boundaries of war to those of the integrated economic area, rather than of Nations. These developments weaken the crucial role of integrated markets as the principal instrument for growth, cohesion, stability, and peace in Europe.
Topic:
Government, Markets, Regional Cooperation, European Union, and Strategic Stability
Political Geography:
Europe

2. The Army and Sea Control: Reconsidering Maritime Strategy in the Twenty-first Century

Author:
Nathan A. Jennings
Publication Date:
09-2022
Content Type:
Journal Article
Journal:
Journal of Advanced Military Studies
Institution:
Marine Corps University Press, National Defense University
Abstract:
This article argues that the U.S. Army, rather than the traditional maritime Services, has an emergent opportunity to increase relevancy by exercising sea control to guarantee American access to global markets in competitive spaces in the twenty-first century. In a strategic environment where adversaries are developing sophisticated defenses in-depth to negate American power projection, the institution has a unique capability to create forward positions of advantage with reimagined operational fires commands at scale—as the nucleus of Joint, interagency, and multinational teams—to protect economic prosperity and preserve coalition unity in Central Europe and Southeast Asia in particular, and across the world in general. Advocating for a shift in operational approach that subordinates tactical maneuver in support of operational fires, this article differs from previous scholarship by asserting that the Army should fully embrace sea control, rather than merely providing support to the U.S. Navy and U.S. Marine Corps, to better enable the Joint execution of American and coalition strategies in contested regions.
Topic:
Markets, Navy, Maritime, Oceans and Seas, Trade, Seapower, Army, and Marine Corps
Political Geography:
Russia, China, and United States of America

3. How Misaligned Incentives Hinder Foster Care Adoption

Author:
Isabella M. Pesavento
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Adoption, particularly adoption out of foster care, has not been well studied within the field of economics. Researchers may avoid this topic because the adoption market greatly deviates from a typical market, and the system and data collection are highly fragmented, with relatively little federal coordination. Rubin et al. (2007) and Thornberry et al. (1999) show that instability in foster care placements produces negative welfare outcomes, and Hansen (2006), Barth et al. (2006), and Zill (2011) demonstrate that adoption out of foster care is socially and financially beneficial. Yet, children waiting to be adopted out of foster care are in excess supply, which has been exacerbated in recent years. I hypothesize that this is, in part, due to misaligned incentives of government officials and the contracted foster care agencies. I show that earnings are prioritized over ensuring permanent child placement, which hinders the potential for adoption, and government oversight fails to correct such iniquities because of career interests.
Topic:
Economics, Government, Markets, Children, Incentives, Foster Care, and Adoption
Political Geography:
North America and United States of America

4. Economic Well‐​Being under Plan versus Market: The Case of Estonia and Finland

Author:
Anna Bocharnikova
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
This article investigates the dynamics of individual economic well‐​being in Estonia and Finland over three periods: (1) 1923–1938, when both countries were similarly situated; (2) 1960–1988, during which Estonia was under Soviet control; and (3) 1992–2018, after Estonian independence. Economic well‐​being is calculated using the purchasing power of wages in terms of the affordability of a minimal food basket. The results show that, in 1938, the purchasing power of wages in Estonia was 4 percent lower than in Finland; in 1988, it was 42 percent lower; and, by 2018, the gap had fallen to 17 percent. Consequently, as measured by the purchasing power of wages, well‐​being in Estonia and Finland was similar before the Soviet occupation, widely diverged during Soviet rule, and converged after Estonian independence, with the transition from plan to market.
Topic:
Economics, Markets, Politics, History, and Culture
Political Geography:
Europe, Finland, and Estonia

5. U.S. Trade Policy toward China: Learning the Right Lessons

Author:
Scott Lincicome
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Labor market and cultural disruptions in the United States are real and important, as is China’s current and unfortunate turn toward illiberalism and empire. But pretending today that there was a better trade policy choice in 2000—when Congress granted China “permanent normal trade relations” (PNTR) status and paved the way for broader engagement—is misguided. It assumes too much, ignores too much, and demands too much. Worse, it could lead to truly bad governance: increasing U.S. protectionism; forgiving the real and important failures of our policymakers, CEOs, and unions over the last two decades; and preventing a political consensus for real policy solutions. Indeed, that is happening now.
Topic:
International Relations, Economics, Markets, Bilateral Relations, Trade, and Protectionism
Political Geography:
China, Asia, North America, and United States of America

6. Financial Development in Hong Kong and China: A Hayekian Perspective

Author:
Kam Hon Chu
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In addition to foreign investment absorption, Hong Kong plays a pioneering role in the internationalization of the renminbi (RMB). Despite the lack of comprehensive statistics on the volume of offshore RMB transactions, Hong Kong is for sure one of the largest, if not the largest, global centers for offshore RMB businesses. According to the Triennial Central Bank Survey (BIS 2019), for instance, Hong Kong was the largest global offshore RMB foreign exchange market, with an average daily turnover of US$107.6 billion as of April 2019, considerably higher than the US$56.7 billion for London and the US$42.6 billion for Singapore.
Topic:
Economics, Markets, Investment, and Financial Development
Political Geography:
China, Asia, and Hong Kong

7. Should the State or the Market Provide Digital Currency?

Author:
Lawrence H. White
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Private commercial banks have been providing trusted money to the public for hundreds of years, in the form of banknotes (where allowed) and transferable deposit balances, as an integral part of their business model. Economically, money balances are a private good: they are rival in consumption (you and I can’t both simultaneously spend a given banknote or deposit balance) and excludable in supply (you and your bank can stop me from spending the funds in your wallet or account) (White 1999: 89). Accordingly, the market does not inherently fail to provide money efficiently.
Topic:
Markets, Monetary Policy, Economy, State, Banks, and Digital Currency
Political Geography:
Global Focus

8. The Soft Touch of International Financial Regulation: Status, Flaws and Future

Author:
Niall O'Shaughnessy
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
The 2008 global financial crisis focused attention on the relationship between the behaviour of international financial institutions and the rules they follow. Many banks in the US and Europe failed, in part, due to their inability to absorb the fallout of the US mortgage market collapse. If international financial institutions could not protect themselves from the cycles of the market, how come regulators were unable to do so either? The most relevant instrument of international financial regulation for understanding the 2008 crisis is the Basel Accords, the rules that specify how much capital a bank should always hold in reserve. However, these rules are ‘soft law’ and so, non-binding. It is a myth of course that soft law is the only way to regulate international finance, as many scholars argue. Despite numerous rounds of reform, the Basel Accords have always been inadequate. The purpose of this paper is to account for the flaws of the Basel Accords and the role that soft law plays in creating those flaws. This paper also analyses the competing theories behind the rise of soft law within financial regulation and the ‘political economy’ explanation is endorsed. The final section of the paper discusses the future of financial regulation and soft law, as well as highlighting innovations from outside the hard/soft law dichotomy and outside the Global North. This paper concludes by stating that the theory behind soft law does not play out in practice within finance and that it remains in place because it suits the interests of large institutions and powerful states. At the same time, a return to Bretton Woods or a new World Financial Organization is problematic and, as such, we must look beyond the hard/soft law debate and embrace the work of the Global South and East.
Topic:
Markets, Financial Crisis, Regulation, Capital, and Banking
Political Geography:
Global Focus

9. The Economic Mentality of Nations

Author:
Pál Czeglédi, Brad Lips, and Carlos Newland
Publication Date:
10-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Two hundred forty‐​five years after the publication of Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations, economists continue to debate the causes of disparities in wealth among the countries of the world. Some scholars focus on the role of climate, natural resources, proximity to markets, or access to technology. Others study human capital, capital accumulation, the use of comparative advantages and economies of scale, and institutional and legal frameworks. We believe that another factor must be considered as well: the economic attitudes and causal beliefs (henceforth, “mentality”) of the population. While a growing body of research shows a clear association between economic growth and the institutions of economic freedom, those institutions can be quite fragile if the population does not have a clear understanding of what makes a country prosperous. To measure popular attitudes toward economic values, we have created the Global Index of Economic Mentality (GIEM).
Topic:
Economics, Markets, Capitalism, Youth, and Free Market
Political Geography:
Global Focus

10. GameStop and the Rise of Retail Trading

Author:
Jennifer J. Schulp
Publication Date:
10-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In January 2021, a curious event in the stock market caught the attention of the media, regulators, and the public. A well‐​known struggling company dominated the headlines, not for its business model, but for the meteoric rise of its stock price. GameStop Corp. started the year trading around $19.00 a share, a pretty robust share price for a company that had been trading below $5.00 as recently as August 2020. Yet, by the end of January, GameStop’s shares were trading at over $300, at one point hitting a high of $483. GameStop’s stock price has receded from those meteoric highs, but, as of late May, it continues to trade between $160 and $180 a share.
Topic:
Markets, Economy, Investment, Stock Markets, and Equity
Political Geography:
Global Focus

11. El problema del coste de la defensa

Author:
Carlos Marti Sempere
Publication Date:
11-2021
Content Type:
Journal Article
Journal:
Journal on International Security Studies (RESI)
Institution:
International Security Studies Group (GESI) at the University of Granada
Abstract:
Este artículo aborda la cuestión del coste asociado ala defensa, es decir, de los recursos que la sociedad debe dedicar a proporcionar seguridad a sus miembros. En él se examina los métodos y formas de establecer y distribuir estos recursos para obtener un conjunto apropiado de capacidades militares que soporten la percepción de seguridad del ciudadano, resolviendo así el problema de la defensa y aumentando así el bienestar económico y social. Se trata de una cuestión antigua que hasido objeto de una preocupación constante del ser humano.La novedad más importante de este artículo es examina resta cuestión desde la perspectiva de la racionalidad limitada del ser humano, dela información imperfecta de la que dispone, de la existencia de preferencias sin una clara racionalidad económica y de instituciones y normas deeficacia limitada. Todo ello conducea asignaciones de recursos para la defensa que pueden encontrarse lejos delos valores que ofrecen un bienestar general mayor.
Topic:
Defense Policy, Economics, Markets, Welfare, and Efficiency
Political Geography:
Global Focus

12. On the Origins of Entrepreneurial Alertness: Did Bauer and Yamey Precede Kirzner?

Author:
J. Robert Subrick
Publication Date:
10-2020
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
After the Second World War, the entrepreneur virtually disappeared from economic analysis (Baumol 1968). This neglect followed from the emerging models of general equilibrium that formed one aspect of the core of economic theory. By assumption, the Walrasian auctioneer knew the appropriate prices necessary to equate quantity supplied with quantity demanded in each market. In addition, the auctioneer knew when and by how much to adjust prices when an exogenous factor changed such as income or production technology. Trade only occurred at equilibrium prices so that markets cleared. No market participant chose or changed prices; it occurred exogenously. Kenneth Arrow recognized the lack of real world mechanisms to determine and adjust prices in competitive markets. He identified a logical gap in the perfectly competitive model. He wrote that “there is no place for a rational decision with respect to prices as there is with respect to quantities” (Arrow 1959: 42). Prices exist independent of consumer and firm behavior. A complete model would have to provide a solution to the conundrum.
Topic:
Markets, History, Entrepreneurship, and Economy
Political Geography:
North America and United States of America

13. Assessing State Capacity Libertarianism

Author:
Ryan H. Murphy and Colin O'Reilly
Publication Date:
10-2020
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Tyler Cowen (2020), in a controversial and widely discussed blog post, has argued that free economic institutions must be accompanied by state capacity to achieve maximal growth rates. He calls this “State Capacity Libertarianism,” which echoes positions he has posed previously (Cowen 2007, 2018). Besley and Persson (2011) can be perhaps seen as a direct predecessor. Criticisms immediately emerged, with Henderson (2020) arguing that Cowen’s specific proposals are in direct conflict with libertarianism, and with minor caveats, free economic institutions are already able to achieve the goals Cowen hopes to achieve with state capacity. Geloso and Salter (forthcoming) argue that the lack of examples of wealthy countries with weak states is due to survivorship bias, and they apply their argument to criticize Cowen (Geloso and Salter 2020). Caplan (2018), while not directly addressing State Capacity Libertarianism, argues that there is little reason to believe that the effects of state capacity are the result of strong states themselves, rather than the social and cultural factors that allowed a strong state to emerge in the first place. The purpose of this article is to put data to the question of the individual effects of state capacity and free economic institutions on economic performance, and the potential interaction between the two.
Topic:
Economics, Markets, State, and Libertarianism
Political Geography:
Global Focus

14. World Oil Security on a Precipice

Author:
Charles F. Doran
Publication Date:
03-2020
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
By attacking a major Saudi oil facility at Abqaiq on 13 September 2019, Iran established a new norm regarding oil security. Now, no oil field, pipeline, refinery, supertanker, or port facility is free from internecine warfare between oil-producing (OPEC) governments. Ironically, in attempting to defend a coun- try from supply interruption, the United States risks worsening the magnitude and scope of that supply interruption rather than preventing its occurrence. In the era of highly accurate drones and missiles, the old oil field motto “all oil comes from a single barrel” has taken on a newly negative connotation. World oil stability rests on a precipice. Both exporters and importers suffer from supply interruption, although perhaps not equally, universally, or simultaneously. Supply interruption may benefit those who have oil to sell through resultant oil price increases if their own exports have not been interrupted. The same cannot be said for buyers who, unless they are energy speculators on the futures market, ardently want to prevent supply interruption and the virtually certain subsequent (though sometimes not lasting) increase in price.
Topic:
Security, Markets, Oil, and Energy
Political Geography:
Global Focus and Gulf Nations

15. Yarişilabi̇li̇r Pi̇yasalar Modeli̇ Üzeri̇ne Bi̇r Uygulama: Türki̇ye Gsm Pi̇yasasi | An Application on Contestable Markets Model: Gsm Market in Turkey

Author:
Recep Tari and Muhammet Rıdvan Ince
Publication Date:
04-2019
Content Type:
Journal Article
Journal:
Journal of Academic Inquiries
Institution:
Sakarya University (SAU)
Abstract:
Bu çalışma, Türkiye GSM piyasasının Yarışılabilir Piyasalar Modeline uygunluğunun test edilmesi amacıyla hazırlanmıştır. Piyasanın, modele uygunluğunun test edilebilmesi amacıyla öncelikle piyasadaki firmaların ayrı ayrı kârları incelenmiş, sonrasında piyanın genel karlılığı analiz edilmiştir. 2008 – 2018 yılları arasını kapsayan analiz sonucunda piyasada aşırı karın mevcut olduğu görülmüştür. Aşırı kâra rağmen, analiz dönemi boyunca Türkiye GSM piyasasına herhangi bir firmanın giriş yapmaması, çalışmanın yönünü piyasaya giriş engellerini ve batık maliyetleri incelemeye yöneltmiştir. Spektrumun kıt bir kaynak olması, piyasada faaliyet gösterecek firma sayısını kısıtlamaktadır. Ayrıca, spektrum tahsisi için gerekli olan lisanslama maliyetleri, batık maliyet özelliği taşımaktadır. Piyasaya özgü bu iki unsur, Yarışılabilir Piyasalar Modelinin temel varsayımlarına uymamaktadır. Sonuç olarak, piyasanın daha etkin çalışabilmesi için sanal mobil şebeke operatörlerinin piyasaya entegre edilmesi önerilmiştir. | This study has been prepared in order to test the suitability of the GSM Market in Turkey to Contestable Market model. In order to test the suitability of the market to the model, firstly, the profits of the firms in the market were examined and then the overall profitability of the market was analyzed. As a result of the analysis covering the period between 2008 and 2018, it was observed that there was excessive profit in the market. Despite the excessive profit, no firms enter to the market directed the study to examine entry barriers and the sunk costs. The fact that the spectrum is a scarce resource restricts the number of firms to operate in the market. In addition, the licensing costs required for the spectrum allocation include the sunk costs. These two market-specific elements do not comply with the basic assumptions of the Contestable Market Model. As a result, it is proposed to integrate the virtual mobile network operators into the market for the market to work more effectively.
Topic:
Markets, Science and Technology, and Communications
Political Geography:
Turkey and Middle East

16. Polish FDI in Central Asian Countries

Author:
Krystyna Gomółka
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
Since gaining independence, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan gradually opened their markets to foreign investors. Before Poland’s acces- sion to the European Union, the activities of Polish investors in Kazakhstan, Kyrgyzstan, Ta- jikistan, Turkmenistan and Uzbekistan were based on bilateral treaties concluded by Poland with those countries. Later, except Turkmenistan, they were governed by the partnership and cooperation agreements between the European Communities and their Member States. Despite the ample investment opportunities and favourable conditions for access to the mar- ket, the activity of Polish companies in these markets has not produced a significant effect. Poland invested with more considerable success on the markets in Kazakhstan and Kyrgyz- stan. It made investment attempts in Tajikistan and Uzbekistan, leaving out Turkmenistan. The reason why Poland has a weak position in these markets is the distance between the partners and inability of Polish companies to efficiently compete with large multinational companies which have been operating there for years. In the Kazakh market, good invest- ment prospects are available for waste management, petrochemical, mining and road con- struction companies. In Kyrgyzstan, there are cooperation possibilities in the area of modern agricultural and processing technologies and establishment of fruit and vegetable process- ing enterprises. In Tajikistan, enterprises can invest in petroleum and natural gas extraction and exploitation, the fuel market, processing of precious metals and construction of conven- tional and hydroelectric power plants. In Turkmenistan, Polish companies can compete for road, railway and housing construction contracts, whereas in Uzbekistan they can invest in businesses covered by government tax reductions.
Topic:
Markets, Infrastructure, Governance, and Investment
Political Geography:
Europe, Central Asia, Kazakhstan, Asia, Kyrgyzstan, Tajikistan, Uzbekistan, and Turkmenistan

17. American Constitutional Theory and History: Implications for European Constitutionalism

Author:
Roger Pilon
Publication Date:
10-2018
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
It is perhaps not impertinent to suggest that American constitutional theory and history, owing to the longevity of the document that is their subject, hold lessons for constitutionalism everywhere, but especially for European constitutionalism—the more recent and ever evolving treaties that serve as a “Constitutional Charter” for the European Union. An American constitutionalist looking east today, seeing everything from Brexit to Grexit plus the reactions in European capitals, must be struck by the tension in the EU between exclusion and inclusion in its many forms, including individualism and collectivism. Those themes underpin my discussion here. The issues surrounding them are universal. They are at the heart of the human condition.
Topic:
Markets, History, European Union, and Constitution
Political Geography:
Europe, North America, and United States of America

18. Would 100 Global Workshops on Theory Building Make A Difference?

Author:
Knud Erik Jörgensen
Publication Date:
07-2018
Content Type:
Journal Article
Journal:
All Azimuth: A Journal of Foreign Policy and Peace
Institution:
Center for Foreign Policy and Peace Research
Abstract:
The paper rests on the assumption that theoretical knowledge is valuable. However, such an assumption cannot be taken for granted. Indeed the first objective is to examine the comparative advantages of theoretical knowledge. Second, if 100 theory building workshops would make a difference, what exactly would the difference be? After all, movie production is said to be dominated by Hollywood but Bollywood produces more movies than Hollywood. Nonetheless, the world market is dominated by Hollywood. Hence, if a distinction between academic domestic and global markets is applied, theory building for a number of domestic or regional markets might impact ‘consumption’ patterns in domestic or regional markets but not necessarily the world market. Moreover, the apparent need for 100 workshops rests on the assumption that the IR discipline is under American hegemony but this assumption is severely challenged by empirical research showing that American hegemony remains a fact in institutional terms but not in terms of theoretical fads and debates being followed in the rest of the world. In short, intellectual global hegemony is largely a chimera. Finally, the paper argues that 100 workshops might be necessary but could turn out to be waste of time and for two reasons. While theorizing a bygone world is fine, the workshops should address contemporary issues and be future-oriented. Furthermore, the workshops should contribute to redefine the (contested) core of the discipline.
Topic:
Markets, Hegemony, International Relations Theory, and Discipline
Political Geography:
Global Focus

19. Volume 67 Issue 2

Author:
Haluk Alkan
Publication Date:
06-2017
Content Type:
Journal Article
Journal:
Istanbul Journal of Economics
Institution:
Istanbul University Faculty of Economics
Abstract:
Istanbul Journal of Economics-İstanbul İktisat Dergisi is an open access, peer-reviewed, scholarly journal published two times a year in June and December. It has been an official publication of Istanbul University Faculty of Economics since 1939. The manuscripts submitted for publication in the journal must be scientific and original work in Turkish or English. Being one of the earliest peer-reviewed academic journals in Turkey in the area of economics, Istanbul Journal of Economics-İstanbul İktisat Dergisi aims to provide a forum for exploring issues in basicly economics and publish both disciplinary and multidisciplinary articles. Economics is the main scope of the journal. However, multidisciplinary and comparative approaches are encouraged as well and articles from various social science areas such as sociology of economics, history, social policy, international relations, financial studies are welcomed in this regard. The target group of the journal consists of academicians, researchers, professionals, students, related professional and academic bodies and institutions.
Topic:
Economics, International Political Economy, Markets, Political Science, and Capital
Political Geography:
Turkey and Global Focus

20. Enhancing Bhutanese Rice in the Domestic Market through increased Production and Favorable Pricing Regime

Author:
Ngawang Chhogyel, Mahesh Ghimiray, Kencho Wangdue, and Yadunath Bajgai
Publication Date:
02-2016
Content Type:
Journal Article
Journal:
Journal of Bhutan Studies
Institution:
Centre for Bhutan & GNH Studies (CBS)
Abstract:
Rice (Oriza sativa L.) is one the most important food crops in Bhutan. Due to its national importance the Department of Agriculture (DoA) under the Ministry of Agriculture and Forests initiated technical interventions in the major rice growing dzongkhags (districts) to improve rice yield and production from 2008-2009. The aim of the program was to commercialize domestically produced rice through enhanced yield, production and rice value chain. The program involved increased investment for intensified promotion of higher yielding varieties of rice, farm mechanization, post harvest and marketing, capacity building, nutrient management and crop protection as the software component. The hardware part saw the constructions and renovations of many irrigation schemes and construction of rice processing units. As a result of the intensified interventions the productivity of rice yield has increased to 3.88 t/ha in 2013 from about 2.81 t/ha in 2009. Favourable pricing mechanism is essential for both farmers and the consumers although farmers want higher prices and the consumers the lower. To facilitate smooth trade the DoA has recommended prices for different varieties of paddy for farmers by maintaining reasonable margins besides associated costs. Therefore, adjusted farm-gate prices have been worked out so as to serve as the recommended paddy procurement prices or basis for calculation. The formal domestic rice trade has come to mainstream markets by involving the Food Corporation of Bhutan Limited. Due to the strategic interventions the domestically produced rice in circulation is estimated to be 255 t currently (as of June 2015) and it is expected to increase further with the prioritized investments, good pricing mechanism and policy support. In conclusion, the commercialization program brought about the increase in yield and overall production and has successfully main streamed trade of domestically produced rice in Bhutan.
Topic:
Agriculture, Markets, Food, Trade, Production, and Rice
Political Geography:
South Asia and Bhutan

21. The Problematic of Savings: The Case of Turkey as an Emerging Market Economy

Author:
Emre Alkin
Publication Date:
07-2016
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
This study provides an analysis on the course of private savings in Turkish economy, which are considered to be the primary source of sustainable growth and development. It also discusses the way how growth model adopted by Turkey regulates the relationship between Public Expenditure, Taxes and Private Savings. Based on the results obtained from this analysis, it has been concluded that ever expanding public sector has a negative impact on private savings. As a long term solution, modifying or replacing the current growth model has been ofered. As a short term ofer, there is need to regulate the revenues and expenditures of all public institutions including the Central Government Budget with the support of the legislative authorities to eliminate the negative impact in question.
Topic:
Markets, Budget, Economy, Economic Growth, Tax Systems, Investment, and Public Spending
Political Geography:
Turkey and Middle East

22. Globalisation, the Global Financial Crisis and the State

Author:
Christopher Huszar
Publication Date:
02-2015
Content Type:
Journal Article
Journal:
Central European University Political Science Journal
Institution:
Central European University
Abstract:
The recent financial crisis devastated financial markets the world over. The events of the crisis caused many to question the policies of the pre-crisis era, which tended towards minimizing regulation as well as many others amorphously placed under the term Washington Consensus. The text Globalisation, the Global Financial Crisis and the State , edited by John H. Farrar and David G. Mayes, professors of law and finance, respectively, focuses on the interactions between states, economic policies and laws against the backdrop of the global financial crisis. Utilizing perspectives in the fields of law, political science and economics, the twelve chapters delve into interdisciplinary arguments over the changing regulatory structure of the world and the global forces that shape the state. The authors' overarching argument is that the financial crisis marked a discursive departure from the models supported by pre financial crisis policies typified by the Washington Consensus towards a more multilateral approach symbolized by the emergence of the G-20 and more state oriented control over commercial activities.
Topic:
Economics, Markets, Financial Crisis, and Law
Political Geography:
Washington

23. The Impact of Economic Inequality on Economic Freedom

Author:
Ryan H. Murphy
Publication Date:
02-2015
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Contemporary economic policy debates are dominated by concerns regarding the rise in inequality (Stiglitz 2012, Piketty 2014). Primarily, this has led to a focus in re-invigorating redistribution. For instance, Robert Shiller (2014) has recently argued for indexing top marginal tax rates to inequality and using the revenues to fund transfer payments. Secondarily, there are the longstanding objections to “neoliberalism” in general, which has encouraged globalization and the liberalization of markets. To the extent that liberal reforms have improved economic institutions, might today's inequality subsequently derail them?
Topic:
Economics and Markets

24. The Touch of Midas: Money, Markets, and Morality

Author:
Edward Skidelsky
Publication Date:
02-2014
Content Type:
Journal Article
Abstract:
Money has always inspired obsession, both in those who amass it and in those who think about it. “Man will never be able to know what money is any more than he will be able to know what God is,” wrote the French financier Marcel Labordère to his friend John Maynard Keynes. The analogy is apt. Money, like God, injects infinity into human desires. To love it is to embark on a journey without end. Three new books testify to money's enduring power to fascinate and horrify. The most scholarly of them, The Invention of Market Freedom by political theorist Eric MacGilvray, traces the emergence of the distinctively modern or “market” conception of freedom out of its “republican” predecessor. The general story is somewhat familiar, but MacGilvray complicates it by showing that market freedom did not vanquish its republican competitor in open combat but subverted it from within, like a parasite devouring its host.
Topic:
Economics and Markets
Political Geography:
New York

25. Who to watch in the World Cup — Barbados' Crop Over Festival — 10 Things to do in Manaus — Baltimore's pop-up farmers market. (slideshows available.)

Publication Date:
04-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
World Cup Update Following the 2014 World Cup? Read more coverage here. With preparations for the 2014 FIFA World Cup nearing completion, soccer fans across the region can turn their attention to what really matters: their national team's chances of winning on the world's biggest stage. Although European teams have won four of the last six competitions, South American teams have historically fared far better when playing at home. The World Cup draw last December placed the 32 qualifying teams in eight groups of four. From June 12 to June 26, each team will play the other teams in its group in a round- robin format. The top two teams from each group will advance to the elimination round. Not all groups are created equal, so here are some predictions for the hemisphere's 10 qualifying teams.
Topic:
Development and Markets
Political Geography:
Europe, Brazil, and South America