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  • Author: Daniel Daianu
  • Publication Date: 11-2017
  • Content Type: Working Paper
  • Institution: Center for Social and Economic Research - CASE
  • Abstract: The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized world. Central banks are over-burdened. This makes central bankers’ lives much more complicated and obfuscates the boundaries between monetary policy and fiscal policy, especially when financial stability gets to center stage. New systemic risks show up in capital markets. The eurozone has escaped collapse owing to the European Central Bank’s extraordinary operations and large macro-imbalance corrections in its periphery, but major threats persist. This paper focuses on economic cycles and policies in an international (European) context. Attention is paid to linkages between domestic cycles and the European financial cycle, drivers of financial cycles, finance deregulation and systemic risks, ultra-low interest rates, the international policy regime, and global stability. The experience of European emerging economies is taken into account.
  • Topic: Debt, Monetary Policy, Financial Crisis, Economies, Economic growth, Interest Rates, Fiscal Policy
  • Political Geography: Europe, European Union
  • Author: Jakub Zowczak, Kamil Pruchnik
  • Publication Date: 09-2017
  • Content Type: Working Paper
  • Institution: Center for Social and Economic Research - CASE
  • Abstract: The aim of this paper is to analyze how different models of transformation in Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) increased or decreased the risk of being stuck in the middle-income trap (MIT). The key finding is that the CEE and CIS countries are, from a definition point of view, not materially at risk of the MIT as out of nine selected MIT definitions, none of the CEE or CIS countries were “stuck” more than three times. At the same time, the CEE countries are more at risk of falling into the MIT than the CIS countries; however this is because the CIS is a poorer region and is not near the lower MIT thresholds. The CEE countries had a better start at the beginning of the transformation and on average implemented a better set of transformation models; however, some CEE countries are now struggling to permanently join the advanced countries and CIS countries are, on average, far behind that. The literature review on transformation models and the analysis of the “jumps” in the World Bank ranking classification suggest that while the MIT is not a concern for CEE or CIS countries, in order to speed up convergence, CIS countries might consider more shocks and consistently following free market related approaches. The study fills a gap in the literature on the MIT which has thoroughly analyzed the Asian and Latin American countries but has provided little analysis of the CEE and CIS countries.
  • Topic: Finance, Economic growth, Economic Policy, Trade
  • Political Geography: Europe, Eastern Europe, Central Europe
  • Author: Michele Coscia, Ricardo Hausmann, Frank Neffke
  • Publication Date: 11-2016
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Tourism is one of the most important economic activities in the world: for many countries it represents the single largest product in their export basket. However, it is a product difficult to chart: "exporters" of tourism do not ship it abroad, but they welcome importers inside the country. Current research uses social accounting matrices and general equilibrium models, but the standard industry classifications they use make it hard to identify which domestic industries cater to foreign visitors. In this paper, we make use of open source data and of anonymized and aggregated transaction data giving us insights about the spend behavior of foreigners inside two countries, Colombia and the Netherlands, to inform our research. With this data, we are able to describe what constitutes the tourism sector, and to map the most attractive destinations for visitors. In particular, we find that countries might observe different geographical tourists' patterns - concentration versus decentralization -; we show the importance of distance, a country's reported wealth and cultural affinity in informing tourism; and we show the potential of combining open source data and anonymized and aggregated transaction data on foreign spend patterns in gaining insight as to the evolution of tourism from one year to another.
  • Topic: Economics, Political Economy, Tourism
  • Political Geography: Europe, Colombia, South America, Netherlands
  • Author: Matt Andrews, Stuart Russell, Cristina Barrios
  • Publication Date: 07-2016
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Previous papers such as Russell, Barrios & Andrews (2016), Guerra (2016), and Russell, Tokman, Barrios & Andrews (2016) have aimed to provide an empirical view into the sports economy. This proves to be a difficult task, given the many definitions of ‘sports’ and data deficiencies and differences in the sports domain (between contexts and over time). The emerging view in these previous papers provides interesting information about the sports sector, however: it shows, for instance, that different contexts have differently intensive sports sectors, and that sports activities overlap with other parts of the economy. This kind of information is useful for policymakers in governments trying to promote sports activities and use sports to advance the cause of broad-based social and economic development. This paper is written with these policymakers in mind. It intends to offer a guide such agents can use in constructing sports policies focused on achieving development goals (what we call development through sports[1]), and discusses ways in which these policymakers can employ empirical evidence to inform such policies. The paper draws on the concept of ‘governance’ to structure its discussion. Taking a principal-agent approach to the topic, governance is used here to refer to the exercise of authority, by one set of agents, on behalf of another set of agents, to achieve specific objectives. Building on such a definition, the paper looks at the way governmental bodies engage in sports when acting to further the interests of citizens, most notably using political and executive authority to promote social and economic development. This focus on governance for development through sports (asking why and how governments use authority to promote sports for broader social and economic development objectives[2]) is different from governance of sports (which focuses on how governments and other bodies exercise authority to control and manage sports activities themselves), which others explore in detail but we will not discuss.[3] The paper has five main sections. A first section defines what we mean by ‘governance’ in the context of this study. It describes an ends-means approach to the topic—where we emphasize understanding the goals of governance policy (or governance ends) and then thinking about the ways governments try to achieve such goals (the governance means). The discussion concludes by asking what the governance ends and means are in a development through sports agenda. The question is expanded to ask whether one can use empirical evidence to reflect on such ends and means. One sees this, for instance, in the use of 'governance indicators' and 'governance dashboards' in the international development domain. A second section details the research method we used to address these questions. This mixed method approach started by building case studies of sports policy interventions in various national and sub-national governments to obtain a perspective on what these policies tend to involve (across space and time). It then expanded into an analysis of sports policies in a broad set of national and sub-national governments to identify common development through sport ends and means. Finally, it involved experimentation with selected data sources to show how the ends and means might be presented in indicators and dashboards—to offer evidence-based windows into development through sports policy regimes. Based on this research, sections three and four discuss the governance ends and means commonly pursued and employed by governments in this kind of policy process. The sections identify three common ends (or goals)—inclusion, economic growth, and health—and a host of common means—like the provision of sports facilities, organized activities, training support, financial incentives, and more—used in fostering a development through sports agenda. Data are used from local authorities in England to show the difficulties of building indicators reflecting such policy agendas, but also to illustrate the potential value of evidence-based dashboards of these policy regimes. It needs to be stated that this work is more descriptive than analytical, showing how data can be used to provide an evidence-based perspective on this domain rather than formally testing hypotheses about the relationship between specific policy means and ends. In this regard, the work is more indicative of potential applications rather than prescriptive. A conclusion summarizes the discussion and presents a model for a potential dashboard of governance in a development through sports policy agenda.
  • Topic: Development, Governance, Sports, Economic Policy
  • Political Geography: Europe, England
  • Author: Stuart Russell, Carla Tokman, Douglas Barrios, Matt Andrews
  • Publication Date: 07-2016
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: As described in Russell, Barrios & Andrews (2016), past attempts to understand the sports economy have been constrained by a number of data limitations. For instance, many of these accounts use revenues when value added measures would be more appropriate. Similarly, many accounts use top-down definitions that result in double counting and an inflated estimate of the size of the sports economy. More importantly, past accounts have focused most of their efforts estimating the overarching size of the sports economy. Constrained by aggregated data that groups a wide range of sports-related economic activities together, they primarily discuss the size of the sports-related economic activity. Their focus on answering the question of "How big?" conceals substantial differences between activities. Core sports activities, such as professional sports teams, behave very differently than activities, like sporting goods manufacturing that are closer to the periphery of the sports economy. Likewise, there are even important differences amongst core sports activities. Professional sports teams are very different than fitness facilities, and they might differ in different respects. Guerra (2016) demonstrates that, when detailed, disaggregated data are available, the possibilities to analyze and understand the sports are greatly increased. For instance, Guerra (2016) were able to conduct skills-based analyses, magnitude analyses, employment characterizations, geographic distribution analyses, and calculations of the intensity of sports activities. The sector disaggregation, spatial disaggregation, and database complementarity present in the Mexico data used in that paper therefore enables a more detailed and nuanced understanding of sports and sports-related economic activity. Data with characteristics similar to those found in Mexico are few and far between. We have, unfortunately, been unable to completely escape such data limitations. However, we have compiled and analyzed a large array of employment data on sports-related economic activities in Europe. In the paper that follows, we describe our analyses of these data and the findings produced. Section 1 begins with a discussion of employment in sports and an explanation of why we chose this variable for our analyses. Section 2 provides an overview of the data used in this paper particularly focusing on the differences between it and the Mexico data discussed in Guerra (2016). It also describes the methodology we use. We analyze these data using one of two related measures to understand the intensity of sports-related activities across different geographic areas in countries. We also construct measures at the level of a single country in order to compare across entire economies. At the international level, we adopt the revealed comparative advantage (RCA) measure that Balassa (1965) first developed to analyze international trade. Within specific countries, however, we use a population-adjusted version of the RCA measure known as RPOP. Section 3 presents the most relevant findings and Section 4 discusses their limitations. Section 5 concludes with the lessons learned and avenues for future research. While there are limitations on these analyses, they can give policymakers a better understanding of the distribution and concentration of sports across space. Such information can serve as an important input for sports-related investment decisions and other sports-related policies.
  • Topic: Employment, Sports, Economy, International Development
  • Political Geography: Europe, Central America, European Union
  • Author: Stuart Russell, Douglas Barrios, Matt Andrews
  • Publication Date: 07-2016
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Data on the sports economy is often difficult to interpret, far from transparent, or simply unavailable. Data fraught with weaknesses causes observers of the sports economy to account for the sector differently, rendering their analyses difficult to compare or causing them to simply disagree. Such disagreement means that claims regarding the economic spillovers of the industry can be easily manipulated or exaggerated. Thoroughly accounting for the industry is therefore an important initial step in assessing the economic importance of sports-related activities. For instance, what do policymakers mean when they discuss sports-related economic activities? What activities are considered part of the "sports economy?" What are the difficulties associated with accounting for these activities? Answering these basic questions allows governments to improve their policies. The paper below assesses existing attempts to understand the sports economy and proposes a more nuanced way to consider the industry. Section 1 provides a brief overview of existing accounts of the sports economy. We first differentiate between three types of assessments: market research accounts conducted by consulting groups, academic accounts written by scholars, and structural accounts initiated primarily by national statistical agencies. We then discuss the European Union’s (EU) recent work to better account for and understand the sports economy. Section 2 describes the challenges constraining existing accounts of the sports economy. We describe two major constraints - measurement challenges and definition challenges - and highlight how the EU's work has attempted to address them. We conclude that, although the Vilnius Definition improves upon previous accounts, it still features areas for improvement. Section 3 therefore proposes a paradigm shift with respect to how we understand the sports economy. Instead of primarily inquiring about the size of the sports economy, the approach recognizes the diversity of sports-related economic activities and of relevant dimensions of analysis. It therefore warns against attempts at aggregation before there are better data and more widely agreed upon definitions of the sports economy. It asks the following questions: How different are sports-related sectors? Are fitness facilities, for instance, comparable to professional sports clubs in terms of their production scheme and type of employment? Should they be understood together or treated separately? We briefly explore difference in sports-related industry classifications using data from the Netherlands, Mexico, and the United States. Finally, in a short conclusion, we discuss how these differences could be more fully explored in the future, especially if improvements are made with respect to data disaggregation and standardization.
  • Topic: Development, Sports, Economy, Economic Policy
  • Political Geography: Europe, European Union
  • Author: Matt Andrews, Peter Harrington
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Men’s professional football is the biggest sport in the world, producing (by our estimate) US $33 billion a year. All is not well in the sector, however, with regular scandals raising questions about the role of money in the sport. The 2015 turmoil around FIFA is obviously the most well known example, creating a crisis in confidence in the sector. This study examines these questions, and the financial integrity weaknesses they reveal; it also offers ideas to strengthen the weaknesses. The study argues that football’s financial integrity weaknesses extend far beyond FIFA. These weaknesses have emerged largely because the sector is dominated by a small elite of clubs, players and owners centered in Europe’s top leagues. The thousands of clubs beyond this elite have very little resources, constituting a vast base of ‘have-nots’ in football’s financial pyramid. This pyramid developed in recent decades, fuelled by concentrated growth in new revenue sources (like sponsorships, and broadcasting). The growth has also led to increasingly complex transactions—in player transfers, club ownership and financing (and more)—and an expansion in opportunities for illicit practices like match-fixing, money laundering and human trafficking. We argue that football’s governing bodies – including FIFA – helped establish this pyramid. We explore the structural weaknesses of this pyramid by looking at five pillars of financial integrity (using data drawn from UEFA, FIFA, clubs, primary research, and interviews). In the first pillar of Financial Transparency and Literacy we find that a vast majority of the world’s clubs and governing bodies publish no financial data, leaving a vast dark space with no transparency. In the second pillar of Financial Sustainability we estimate that a majority of global clubs and governing bodies are at ‘medium to high risk’ of financial failure. We find, additionally, that European tax debts have grown despite Financial Fair Play, and confederations and FIFA contribute to a pattern of weak Fiscal Responsibility. We then create a new metric of Financial Concentration and find that the football sector is at ‘high risk’ of over-concentration, which poses existential questions for many clubs and even leagues. In the final pillar of Social Responsibility and Moral Reputation, we find that football’s governing bodies face a crisis of legitimacy stemming from a failure to tackle moral turpitude, set standards and regulate effectively. We suggest a set of reforms to re-structure FIFA in particular, separating its functions and stressing its regulatory role.
  • Topic: Crime, Sports, Economy, World Cup
  • Political Geography: Europe, Global Focus, European Union
  • Author: Ricardo Hausmann, Frank Neffke
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Is labor mobility important in technological diffusion? We address this question by asking how plants assemble their workforce if they are industry pioneers in a location. By definition, these plants cannot hire local workers with industry experience. Using German social-security data, we find that such plants recruit workers from related industries from more distant regions and local workers from less-related industries. We also show that pioneers leverage a low-cost advantage in unskilled labor to compete with plants that are located in areas where the industry is more prevalent. Finally, whereas research on German reunification has often focused on the effects of east-west migration, we show that the opposite migration facilitated the industrial diversification of eastern Germany by giving access to experienced workers from western Germany.
  • Topic: Science and Technology, Labor Issues, Labor Policies, Human Capital, Diversification, Mobility
  • Political Geography: Europe, Germany, European Union
  • Author: Giorgio Gomel
  • Publication Date: 05-2016
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: There is some degree of ambivalence, mistrust, and even hostility between Europe and Israel. Europeans see Israel on a path of permanent occupation of Palestinian territories. Israel sees the European posture as unbalanced and biased against Israel. Economic and institutional linkages are strong. A further strengthening of relations is however difficult unless a peaceful settlement of the Israeli-Palestinian conflict is reached. For the EU resolving the conflict is a matter of both interests and values. The engagement of the EU can take different forms, in the realm of sticks one may point to legislation concerning the labelling of products from Israeli settlements in the occupied territories and carrots such as the EU offer of a special privileged partnership with Israel. For the Israeli public a clearer perception of the costs of non-peace and the benefits from a resolution of the conflict could help unblock the stalemate and remove the deceptive illusion that the status quo is sustainable.
  • Topic: Politics, Geopolitics, Israel, Europe Union
  • Political Geography: Europe, Israel
  • Author: Vibeke Schou Tjalve
  • Publication Date: 11-2016
  • Content Type: Working Paper
  • Institution: Danish Institute for International Studies
  • Abstract: Despite the general impression that the US president-elect Donald Trump has given us very little clue to predict his foreign policy doctrine, a guiding framework behind his scattered statements does exist. In this DIIS Policy Brief, Senior Researcher Vibeke Schou Tjalve takes a closer look at the surprisingly consistent philosophy of power and interest that Trump has aired during the past two decades. Trump is labelled a ‘nationalist’ and an ‘isolationist’. These are understandable labels, and yet: Trump is not your classical cultural-conservative nostalgic with deep veneration for old alliances or shared norms. His American nationalism does not linger on the memories of the New World European roots. Rather, it is founded on a deeply Darwinist conception of the world as a cutthroat competition, in which raw strength - not cultural characteristics – matters. As such, Trump will have no sentimentality for NATO or Europe, and he will view the world through largely value-neutral eyes. This leaves Europe with a defining set of questions, and to influence a Trump presidency, we should understand and appreciate this not-so-simple nationalism, Tjalve writes.
  • Topic: International Relations, Political Power Sharing
  • Political Geography: America, Europe
  • Author: Aleksandra Maatsch
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: Max Planck Institute for the Study of Societies
  • Abstract: This paper investigates how the intergovernmental reform process of European economic governance affected national parliaments’ oversight of this policy area. Which parliaments became disempowered and which managed to secure their formal powers – and why? The dependent variable of the study is operationalized as the presence or absence of “emergency legislation” allowing governments to accelerate the legislative process and minimize the risk of a default by constraining national parliaments’ powers. The paper examines how national parliaments in all eurozone states were involved in approving the following measures: the EFSF (establishment and increase of budgetary capacity), the ESM, and the Fiscal Compact. The findings demonstrate that whereas northern European parliaments’ powers were secured (or in some cases even fostered), southern European parliaments were disempowered due to the following factors: (i) domestic constitutional set-up permitting emergency legislation, (ii) national supreme or constitutional courts’ consent to extensive application of emergency legislation, and (iii) international economic and political pressure on governments to prevent default of the legislative process. Due to significant power asymmetries, national parliaments remained de jure but not de facto equal in the exercise of their control powers at the EU level. As a consequence, both the disempowerment of particular parliaments and the asymmetry of powers among them has had a negative effect on the legitimacy of European economic governance.
  • Topic: Politics, Governance, Law, Reform
  • Political Geography: Europe
  • Author: Armen Oganesyan
  • Publication Date: 02-2016
  • Content Type: Working Paper
  • Institution: East-West Center
  • Abstract: A Part of The Western World, Europe, however, has been very selective about alien cultures and civilizations; not a “melting pot” american style, it is paying dearly for this function imposed on it. The disagreements on the migration issues in the european corridors of power threaten the cohesion of the european Unity. Frau Merkel who demonstrated a no mean determination to meet a new wave of migrants within maximal openness and tolerance had already accepted the failure of multiculturalism. This means that Berlin has no answer to the question about how to cope with the migrants who have arrived in thousands and millions to Europe to stay.
  • Topic: Migration, Treaties and Agreements, Refugee Issues, Multiculturalism
  • Political Geography: Europe
  • Author: Mahmoud Alawna, Nora-Elise Beck, Vlatko Cvrtila, Fatima Itawi, Saša Janković, Arnold Luethold, Frederic Maio, Felix Tusa
  • Publication Date: 08-2016
  • Content Type: Working Paper
  • Institution: Geneva Centre for Security Sector Governance (DCAF)
  • Abstract: This working paper aims to support the ongoing efforts of the Palestinian executive authorities, security forces, independent institutions, civil society organisations (CSOs) and the media to strengthen the Palestinian complaints system. It identifies deficits in the complaints system of the Palestinian security sector and proposes recommendations to rectify them. It particularly stresses the need to improve coordination between the vast number of complaints units and calls for greater clarity on the role of civil society and the media. It hopes to raise awareness for these issues among Palestinian decision-makers and citizens and international actors. When fully functioning, the complaint handling system can be an effective source of information for the government to improve its performance and develop its services. The paper builds upon the discussions of the complaints working group, consisting of Palestinian government officials and representatives of the security forces, civil society and the media. DCAF presented the recommendations to senior Palestinian decision-makers in late September 2016, providing these with cases of international best practice.
  • Topic: Security, Civil Society, Human Rights, Governance, Law Enforcement
  • Political Geography: Geneva, Europe, Palestine, West Bank
  • Author: Hamdullah Mohib
  • Publication Date: 04-2016
  • Content Type: Working Paper
  • Institution: The Ambassadors Review
  • Abstract: The Afghanistan of today would surprise most outsiders, even those who closely follow developments in the country. We are often wrongly branded as a failing state with a struggling government whose young people are fleeing en masse for Europe and whose military has lost control of the security situation. While anecdotal evidence can always be found to lend isolated support to such claims, this sweeping characterization offers a distorted picture of reality.
  • Topic: Security, Fragile/Failed State, Governance, Military Affairs
  • Political Geography: Afghanistan, Europe
  • Author: Anthony Luzzatto Gardner
  • Publication Date: 04-2016
  • Content Type: Working Paper
  • Institution: The Ambassadors Review
  • Abstract: Four years ago the European Union won the Nobel Peace Prize for the “over six decades [in which it has] contributed to the advancement of peace and reconciliation, democracy, and human rights in Europe.” How quickly the mood has changed. While it has become fashionable to charge that the European Union is on the verge of collapse in the face of dire current challenges, rumors of the European Union’s demise would appear premature. The successes achieved in 2015, as well as the potential future areas of good news, are frequently underappreciated. The United States is firmly committed to investing in its relationship with the European Union. This is a partnership that delivers, as it will bring dividends to both the United States and the European Union for the long term.
  • Topic: Peacekeeping, Democracy, Europe , Europe Union
  • Political Geography: Europe, United States of America, European Union
  • Author: Andreas Bagenholm, Stephan Dahlberg, Maria Solevid
  • Publication Date: 11-2016
  • Content Type: Working Paper
  • Institution: The Quality of Government Institute. University of Gothenburg.
  • Abstract: In this paper, we argue that the effects of corruption on voter turnout not necessarily have to be negative. We argue that voters’ willingness to participate in elections will increase when parties politicize the issue of corruption in electoral campaigns, as it indicates party responsiveness to voter concerns. We test this claim by using individual-level data from CSES coupled with unique context data on party politicization of corruption in campaigns. Our findings show that higher perceived levels of corruption are associated with lower voter turnout but that the negative effect of perceiving high corruption on turnout is reduced in an electoral context where corruption is politicized. The results thus show that if corruption is not politicized, individuals’ corruption perceptions exert a significant negative impact on turnout. By politicizing anti-corruption measures, political parties are acting policy responsive and by that they are also affecting voters’ decision whether to vote or not.
  • Topic: Politics, Political Theory, Political stability
  • Political Geography: Europe, Canada, Australia, New Zealand
  • Author: Andrea Teti
  • Publication Date: 04-2016
  • Content Type: Working Paper
  • Institution: Arab Transformations Project, University of Aberdeen
  • Abstract: The EU claimed it would learn the lessons of the Arab Uprisings with a ‘qualitative step forward’ in its approach to development, democracy, and security. However, an examination of the conceptual structure of revised EU Neighbourhood Policy (ENP) suggests EU policy changed little, and that in later incarnations it displayed a retrenchment towards conventional notions of democracy, development, and security, prioritising the latter over the former two. The Union seems to have failed to re-examine its approach to democracy, development, and security, falling back on approaches to all three which have been tried – and have failed – in the past.
  • Topic: International Relations, International Affairs
  • Political Geography: Europe, Middle East
  • Author: Mira Kaneva
  • Publication Date: 09-2016
  • Content Type: Working Paper
  • Institution: Institute for Security and International Studies (ISIS)
  • Abstract: The associative definition of borders implies the separation or the connection between two contrasting units (even in terms of their coloring on the geographic map). Thus the inherent intermediate position of borders has always marked the bordering practices between and within political communities. In international relations studies, though, despite the centrality of borders in policy-making, border studies are reduced to a marginal position. Ironically, border studies are driven to the periphery of academic research due to the prevailing misconception of them as epiphenomena at the expense of core phenomena such as state, sovereignty, and territory
  • Topic: International Organization, Immigration, Political stability
  • Political Geography: Europe
  • Author: Marek Dabrowski
  • Publication Date: 08-2016
  • Content Type: Working Paper
  • Institution: Center for Social and Economic Research - CASE
  • Abstract: 'Since 2008, the world economy has been facing the consequences of the global financial crisis. As a result, many economic policy paradigms have been revised, and this process is far from complete. The policy area, which needs a fundamental rethinking (especially in advanced economies), relates to the role of public finance and fiscal policy in ensuring economic growth and financial stability. The primary task will be to develop a new analytical approach and detailed indicators, which are necessary to provide a correct diagnosis and effective recommendations.' What are the “safe” levels of budget deficit and public debt during “normal” or “good” times? Is there a single norm of fiscal safety?
  • Topic: Debt, Financial Crisis, Finance, Global Financial Crisis, Macroeconomics, Fiscal Policy, Deficit
  • Political Geography: Europe, Global Focus, Global Markets
  • Author: Piotr Kozarzewski, Maciej Bałtowski
  • Publication Date: 07-2016
  • Content Type: Working Paper
  • Institution: Center for Social and Economic Research - CASE
  • Abstract: Piotr Kozarzewski and Maciej Bałtowski analyse the causes and manifestations of Poland’s recent shift in economic policy towards a more active role of the state, and use privatization policy as an example. The authors examine the effects of the privatization policy and point to a large unfinished agenda in ownership transformation that has had an adverse impact on the institutional setup of the Polish state, creating grounds for rent seeking and cronyism, which, in turn, impede the pace of privatization. They find out that it is the increasing capture of the state by rent-seeking groups, and not, contrary to popular opinion, the global financial crisis, that most contributes to the growing statist trends of Poland’s economic policy. The publication is a part of a CASE Working Papers series.
  • Topic: Privatization, Financial Crisis, Reform, State, Economic Policy, Institutions, Macroeconomics
  • Political Geography: Europe, Poland