Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/1
D. Štreimikienė, Asta Mikalauskiene, Ugnė Macijauskaitė – Daunaravičienė
The global climate crisis poses an existential threat to the natural ecosystem and the entire humanity, while new effects (Covid-19, war in Ukraine, etc.) and factors increase the risk to national security and public stability in the EU countries and beyond. The most important global challenge of our time has prompted the formation of climate change management policies around the world; international agreements have been concluded for this purpose. In 2015 the Paris Agreement was signed and the United Nations General Assembly approved the United Nations Agenda for Sustainable Development until 2030. The goal 13 "Take urgent action to combat climate change and its effects" and tasks for the implementation of this goal were established and approved by the EU legal acts. The European Green Deal was initiated to define the EU's vision of creating a climate-neutral economy by 2050. Those interested in climate change and the green course often raise the question of whether everything possible has been done to prevent (stop) or eliminate climate "erosion" processes. To climate change sceptics, these documents or efforts may seem excessive (and expensive), but it is important to determine whether the full-fledged, comprehensive or targeted communication is available in the EU, whether the dissemination of public information about the processes of the green deal is sufficient and what the management of this information entails. This is because information management is one of the most important components of the successful implementation of the Green Deal. The supreme audit institutions of the EU countries conducted assessment of EU countries in preparation for the implementation of the Sustainable Development Goals (SDGs). The assessment of the public's knowledge and understanding of the EU green deal was performed using a uniform, approved and generally accepted control model. The article aims to analyse the role of information management in implementation of the Green Deal in the EU and the US by distinguishing the 2020-2022 period of global COVID-19 pandemic based on a Lithuanian case study.
全球气候危机对自然生态系统和整个人类构成了生存威胁，而新的影响(新冠肺炎、乌克兰战争等)和因素增加了欧盟国家和其他国家的国家安全和公共稳定风险。我们这个时代最重要的全球性挑战促使世界各地形成了气候变化管理政策;为此目的已经缔结了国际协定。2015年，签署了《巴黎协定》，联合国大会批准了《联合国2030年可持续发展议程》。“采取紧急行动应对气候变化及其影响”的目标13和实施这一目标的任务是由欧盟法律文件确定并批准的。《欧洲绿色协议》(European Green Deal)旨在确定欧盟到2050年创建气候中性经济的愿景。那些对气候变化和绿色球场感兴趣的人经常提出这样一个问题:是否已经尽了一切可能来防止(停止)或消除气候“侵蚀”过程?对于气候变化怀疑论者来说，这些文件或努力可能显得过度(而且昂贵)，但重要的是要确定欧盟是否有全面、全面或有针对性的沟通，关于绿色协议过程的公共信息传播是否充分，以及这些信息的管理需要什么。这是因为信息管理是成功实施绿色协议的最重要组成部分之一。欧盟国家最高审计机构对欧盟国家进行了评估，为落实可持续发展目标做准备。公众对欧盟绿色协议的认识和理解的评估是使用统一、批准和普遍接受的控制模型进行的。本文旨在以立陶宛为例，通过区分2020-2022年全球COVID-19大流行时期，分析信息管理在欧盟和美国实施绿色协议中的作用。
{"title":"Role of information management in implementing the Green Deal in the EU and the US","authors":"D. Štreimikienė, Asta Mikalauskiene, Ugnė Macijauskaitė – Daunaravičienė","doi":"10.14254/2071-8330.2022/15-4/1","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/1","url":null,"abstract":"The global climate crisis poses an existential threat to the natural ecosystem and the entire humanity, while new effects (Covid-19, war in Ukraine, etc.) and factors increase the risk to national security and public stability in the EU countries and beyond. The most important global challenge of our time has prompted the formation of climate change management policies around the world; international agreements have been concluded for this purpose. In 2015 the Paris Agreement was signed and the United Nations General Assembly approved the United Nations Agenda for Sustainable Development until 2030. The goal 13 \"Take urgent action to combat climate change and its effects\" and tasks for the implementation of this goal were established and approved by the EU legal acts. The European Green Deal was initiated to define the EU's vision of creating a climate-neutral economy by 2050. Those interested in climate change and the green course often raise the question of whether everything possible has been done to prevent (stop) or eliminate climate \"erosion\" processes. To climate change sceptics, these documents or efforts may seem excessive (and expensive), but it is important to determine whether the full-fledged, comprehensive or targeted communication is available in the EU, whether the dissemination of public information about the processes of the green deal is sufficient and what the management of this information entails. This is because information management is one of the most important components of the successful implementation of the Green Deal. The supreme audit institutions of the EU countries conducted assessment of EU countries in preparation for the implementation of the Sustainable Development Goals (SDGs). The assessment of the public's knowledge and understanding of the EU green deal was performed using a uniform, approved and generally accepted control model. The article aims to analyse the role of information management in implementation of the Green Deal in the EU and the US by distinguishing the 2020-2022 period of global COVID-19 pandemic based on a Lithuanian case study.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"60 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90706610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/12
I. Tiutiunyk, Wojciech Cieslinski, A. Zolkover, Laszlo Vasa
The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country.
{"title":"Foreign direct investment and shadow economy: One-way effect or multiple-way causality?","authors":"I. Tiutiunyk, Wojciech Cieslinski, A. Zolkover, Laszlo Vasa","doi":"10.14254/2071-8330.2022/15-4/12","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/12","url":null,"abstract":"The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"14 4","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72472741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/7
I. Ploom, Tarmo Kalvet, M. Tiits
This study addresses the challenges and opportunities that small European states face when weighing their defence industrial policy options. The article builds on a technology–based small state industry governance model by adding a defence industry–specific layer. This model is used to analyse how defence industries of small states could contribute to the European Union common defence industrial policy, and how the latter could likewise be beneficial to small member states. The paper discusses defence industrial policy challenges and opportunities both from the wider European Union and small state perspective. Global and regional geopolitical trends are explored among other specific topics, as are aspects of regional and domestic governance like the market structure, procurement, and R&D. The article concludes that small European states could both win and lose with the establishment of a common defence market, depending on the market design. Ideally, it should be combined with the simultaneous creation of an EU defence industrial policy that enables smaller, and especially less developed, member states to maintain and advance their own industries, preferably participating within the value chains of defence industries of the larger countries.
{"title":"Defence industries in small European states: Key contemporary challenges and opportunities","authors":"I. Ploom, Tarmo Kalvet, M. Tiits","doi":"10.14254/2071-8330.2022/15-4/7","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/7","url":null,"abstract":"This study addresses the challenges and opportunities that small European states face when weighing their defence industrial policy options. The article builds on a technology–based small state industry governance model by adding a defence industry–specific layer. This model is used to analyse how defence industries of small states could contribute to the European Union common defence industrial policy, and how the latter could likewise be beneficial to small member states. The paper discusses defence industrial policy challenges and opportunities both from the wider European Union and small state perspective. Global and regional geopolitical trends are explored among other specific topics, as are aspects of regional and domestic governance like the market structure, procurement, and R&D. The article concludes that small European states could both win and lose with the establishment of a common defence market, depending on the market design. Ideally, it should be combined with the simultaneous creation of an EU defence industrial policy that enables smaller, and especially less developed, member states to maintain and advance their own industries, preferably participating within the value chains of defence industries of the larger countries.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"71 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88536536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/3
Joanna Kurowska-Pysz, Ewa Łaźniewska, Hynek Böhm, Artur Boháč
Background: The study concerns the inter-governmental dispute between the Polish and the Czech governments on the planned Turów coalmine expansion and its impact on the cross-border cooperation between the Polish and the Czech entities, particularly in the sphere of cross-border partnerships conducting microprojects financially supported by the INTERREG Program. The conflict went before the European Court of Justice in 2021 and was the cause of hostility between the two nations. the conflict was concluded in February 2022, with the signing of the agreement on the future of the Turów coalmine and compensation for the Czechs. Although the dispute has ended formally, but some problems in relations between the Polish and the Czech partners on the borderland still exist. Research problem and questions: The research problem concerns recognizing how inter-governmental disputes at a national level can impact on cross-border cooperation at a local level, and in particular the Polish-Czech partnerships conducting cross-border microprojects. It comprises of research questions concerning the impact of this inter-governmental dispute on the ongoing and future Polish-Czech institutional partnerships in cross-border projects and the factors necessary to improve the resilience of cross-border cooperation at a local level to political factors and actors. Methods: The authors used both qualitative research methods (in-depth interviews, media analysis, desk research) and quantitative research methods (survey CATI, CAWI surveys). Conclusions: The study shows slight changes in the intensity, efficiency and approach to the cross-border cooperation; it reveals the future activities essential to improving the Polish-Czech relations in the Nysa Euroregion. It points out the important factors necessary to improve the resilience of cross-border cooperation to political factors.
{"title":"Cross-border cooperation in the shadow of crisis – the Turów Coalmine case","authors":"Joanna Kurowska-Pysz, Ewa Łaźniewska, Hynek Böhm, Artur Boháč","doi":"10.14254/2071-8330.2022/15-4/3","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/3","url":null,"abstract":"Background: The study concerns the inter-governmental dispute between the Polish and the Czech governments on the planned Turów coalmine expansion and its impact on the cross-border cooperation between the Polish and the Czech entities, particularly in the sphere of cross-border partnerships conducting microprojects financially supported by the INTERREG Program. The conflict went before the European Court of Justice in 2021 and was the cause of hostility between the two nations. the conflict was concluded in February 2022, with the signing of the agreement on the future of the Turów coalmine and compensation for the Czechs. Although the dispute has ended formally, but some problems in relations between the Polish and the Czech partners on the borderland still exist. Research problem and questions: The research problem concerns recognizing how inter-governmental disputes at a national level can impact on cross-border cooperation at a local level, and in particular the Polish-Czech partnerships conducting cross-border microprojects. It comprises of research questions concerning the impact of this inter-governmental dispute on the ongoing and future Polish-Czech institutional partnerships in cross-border projects and the factors necessary to improve the resilience of cross-border cooperation at a local level to political factors and actors. Methods: The authors used both qualitative research methods (in-depth interviews, media analysis, desk research) and quantitative research methods (survey CATI, CAWI surveys). Conclusions: The study shows slight changes in the intensity, efficiency and approach to the cross-border cooperation; it reveals the future activities essential to improving the Polish-Czech relations in the Nysa Euroregion. It points out the important factors necessary to improve the resilience of cross-border cooperation to political factors.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"1 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89444271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/15
I. Hoxha, N. Atabaev, Begimai Marlenova, Gulnaz Atabaeva, I. Keles
The relationship between the liquidity ratio, the economy and the banking system of a country is a popular subject among academics. This research aims to understand this connection for Kyrgyzstan, a developing economy. The Vector Auto Regression approach was used to trace the association of liquidity ratio to loan and deposit volumes, interest income, net interest income, treasury bill volume, and gross domestic product based on the quarterly data. The data was obtained from various publications of the National Bank of the Kyrgyz Republic. The primary literature indicates that bank liquidity has an inverse correlation not only with bank profitability but also with economic growth. The findings confirm a similar relationship for Kyrgyzstan. Furthermore, liquidity has a positive relationship to treasury bills volume, but a negative correlation to economic growth. However, there was no significant correlation between the liquidity ratio and deposit volumes. Therefore, this paper found that high liquidity ratio of the Kyrgyz banking system negatively effects both the profitability of the banks and economic growth.
{"title":"Does Kyrgyz banking system liquidity provide economic growth?","authors":"I. Hoxha, N. Atabaev, Begimai Marlenova, Gulnaz Atabaeva, I. Keles","doi":"10.14254/2071-8330.2022/15-4/15","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/15","url":null,"abstract":"The relationship between the liquidity ratio, the economy and the banking system of a country is a popular subject among academics. This research aims to understand this connection for Kyrgyzstan, a developing economy. The Vector Auto Regression approach was used to trace the association of liquidity ratio to loan and deposit volumes, interest income, net interest income, treasury bill volume, and gross domestic product based on the quarterly data. The data was obtained from various publications of the National Bank of the Kyrgyz Republic. The primary literature indicates that bank liquidity has an inverse correlation not only with bank profitability but also with economic growth. The findings confirm a similar relationship for Kyrgyzstan. Furthermore, liquidity has a positive relationship to treasury bills volume, but a negative correlation to economic growth. However, there was no significant correlation between the liquidity ratio and deposit volumes. Therefore, this paper found that high liquidity ratio of the Kyrgyz banking system negatively effects both the profitability of the banks and economic growth.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"11 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82783711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/14
M. Kashcha, Valerii Yatsenko, Tamás Gyömörei
The article examines the cases of 18 countries that have been consistently ranked by Esports Earnings over the past ten years to find the social and economic determinants that may determine a country’s success in the international e-sports arena. In the study, indicators of a country’s cybersports success consider the annual volume of prizes won by its e-sportsmen, the ranking place in the world rankings and the total number of e-sportsmen. The hypothesis about the possible influence of a number of macroeconomic indicators, as well as the characteristics of the overall level of social stability on the development of e-sports within the country, was put forward and verified. The scientific landscape of research on cybersports, published in Scopus (by prevailing research topics, the geography of research network leaders, and the evolution of scientific search), was structured using the VOSviewer toolkit. By means of canonical analysis, pairwise relationships in the chain “economic development – social development – e-sports development,” as well as determinants with strong intragroup and intergroup relationships, have been revealed; and these relationships were quantified in the aggregate by means of structural modeling. The results of the calculations showed that the economic stability of the country rather than social stability has a greater influence on its success in the international e-sports arena. The most relevant indicators of economic development, considering success in e-sports, are GDP, unemployment rate and direct foreign investments, social development – poverty rate, population migration and Gini coefficient.
{"title":"Country performance in e-sport: Social and economic development determinants","authors":"M. Kashcha, Valerii Yatsenko, Tamás Gyömörei","doi":"10.14254/2071-8330.2022/15-4/14","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/14","url":null,"abstract":"The article examines the cases of 18 countries that have been consistently ranked by Esports Earnings over the past ten years to find the social and economic determinants that may determine a country’s success in the international e-sports arena. In the study, indicators of a country’s cybersports success consider the annual volume of prizes won by its e-sportsmen, the ranking place in the world rankings and the total number of e-sportsmen. The hypothesis about the possible influence of a number of macroeconomic indicators, as well as the characteristics of the overall level of social stability on the development of e-sports within the country, was put forward and verified. The scientific landscape of research on cybersports, published in Scopus (by prevailing research topics, the geography of research network leaders, and the evolution of scientific search), was structured using the VOSviewer toolkit. By means of canonical analysis, pairwise relationships in the chain “economic development – social development – e-sports development,” as well as determinants with strong intragroup and intergroup relationships, have been revealed; and these relationships were quantified in the aggregate by means of structural modeling. The results of the calculations showed that the economic stability of the country rather than social stability has a greater influence on its success in the international e-sports arena. The most relevant indicators of economic development, considering success in e-sports, are GDP, unemployment rate and direct foreign investments, social development – poverty rate, population migration and Gini coefficient.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"10 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75786433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/5
R. Dankiewicz, Bartłomiej Balawejder, Katarzyna Chudy-Laskowska, Ihor Britchenko
The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.
{"title":"Impact factors and structural analysis of the state's financial security","authors":"R. Dankiewicz, Bartłomiej Balawejder, Katarzyna Chudy-Laskowska, Ihor Britchenko","doi":"10.14254/2071-8330.2022/15-4/5","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/5","url":null,"abstract":"The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"11 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83605910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.14254/2071-8330.2022/15-4/13
Farid Jabiyev, Aghamir Asgarov, Tutu Heydarli
This study investigates the relationship between public debt and economic growth in Azerbaijan by applying FMOLS model to data from 1995 to 2020. The findings of the study show that government debt negatively affects economic growth. They also indicate that a 1% growth in export and real exchange rate increases GDP by 0.209% and 0.202%, respectively. The results of this study are useful for policymakers and they advance the economic literature to facilitate further research into developing oil-rich countries.
{"title":"The relationship between public debt and economic growth: The case of Azerbaijan","authors":"Farid Jabiyev, Aghamir Asgarov, Tutu Heydarli","doi":"10.14254/2071-8330.2022/15-4/13","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/13","url":null,"abstract":"This study investigates the relationship between public debt and economic growth in Azerbaijan by applying FMOLS model to data from 1995 to 2020. The findings of the study show that government debt negatively affects economic growth. They also indicate that a 1% growth in export and real exchange rate increases GDP by 0.209% and 0.202%, respectively. The results of this study are useful for policymakers and they advance the economic literature to facilitate further research into developing oil-rich countries.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"75 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73960287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article discusses and analyses relations between Indonesia and Malaysia from the relational dynamism between people and the state. Theoretically, the relations can be narrated through identity formation approach in the context of ‘authoritative-defined social reality’ and ‘everyday-defined social reality’. The reality of Indonesia-Malaysia relations in the last twenty-five years was very much defined by authoritative or elitist views, which have dominated and controlled the everyday discourses. However, elitist groups’ reality-defined perspective does not paint the whole picture of relations. This article argues that it is crucial to analyse the relations in the context of ‘everyday-defined social reality’ especially from the common people’s perspective such as workers, traders, activists, novelists, religious groups, artists, and families, who experience the reality of the relations. This ‘social reality’ can be observed in the dynamism of cross border relation between people-to-people, as has been shown in our case studies, in the border areas of Kalimantan Barat and Sarawak as well as Kalimantan Utara-Sabah. It shows complex but generally positive pictures in understanding relations between two countries. It is therefore expected that the awareness and understanding of this ‘everyday-reality’ can contribute to a better understanding of relations between the two countries.
{"title":"CONTESTING AUTHORITY DISCOURSES IN DEFINING RELATIONS BETWEEN INDONESIA AND MALAYSIA","authors":"M. K. Abdullah, A. Anuar, A. Hara","doi":"10.32890/jis2022.18.7","DOIUrl":"https://doi.org/10.32890/jis2022.18.7","url":null,"abstract":"This article discusses and analyses relations between Indonesia and Malaysia from the relational dynamism between people and the state. Theoretically, the relations can be narrated through identity formation approach in the context of ‘authoritative-defined social reality’ and ‘everyday-defined social reality’. The reality of Indonesia-Malaysia relations in the last twenty-five years was very much defined by authoritative or elitist views, which have dominated and controlled the everyday discourses. However, elitist groups’ reality-defined perspective does not paint the whole picture of relations. This article argues that it is crucial to analyse the relations in the context of ‘everyday-defined social reality’ especially from the common people’s perspective such as workers, traders, activists, novelists, religious groups, artists, and families, who experience the reality of the relations. This ‘social reality’ can be observed in the dynamism of cross border relation between people-to-people, as has been shown in our case studies, in the border areas of Kalimantan Barat and Sarawak as well as Kalimantan Utara-Sabah. It shows complex but generally positive pictures in understanding relations between two countries. It is therefore expected that the awareness and understanding of this ‘everyday-reality’ can contribute to a better understanding of relations between the two countries. ","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"5 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88856138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Equity crowdfunding (ECF), also known as crowd-investing or investment crowdfunding, is a way of boosting capital used by start-ups and early-stage companies. Fundamentally, ECF offers the company’s securities to potential investors in exchange for their investment. As a result, each investor is authorized to a share in the company proportionate to their financing. This paper discusses the ECF industry regulations in Malaysia and Indonesia in terms of its prospects and challenges during the COVID-19 pandemic through doctrinal research using the conventional legal method. Critical and analytical approaches were used to achieve its objectives. The findings showed that ECF has seen a growth of over 170% in new accounts registered in Malaysia, with 65% of them being retail investors. There is a great demand from individual and retail investors who are looking to invest in various investment products and services made accessible to them. The Capital Markets and Services Act 2007 plays an important role to provide good governance of ECF business in Malaysia. Further, the Guidelines on Recognized Markets (GRM 2020) (Item 1.01 GRM) and section 15 (g) of the Securities Commission Act 1993 clarifies the function of the Securities Commission to regulate ECF activities and protect the interests of the parties involved, especially investors. In Indonesia, the main regulator of ECF is the Financial Services Authority and the new ECF law is the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning Securities Crowdfunding. The regulation aims to extend the scope of the crowdfunding which includes debt-based securities and sukuk. The prospects of ECF business in both countries are great especially in the era of the pandemic because the fintech, which has led to new investment products and services, is a vital force that helps democratize investments and will continue to increase as investors become more educated and informed. In terms of the ECF law, comparatively, it is different in terms of the governance, process and procedure, types of investors, etc. which are applicable in both Malaysia and Indonesia.
{"title":"EQUITY CROWDFUNDING INDUSTRY REGULATIONS IN MALAYSIA AND INDONESIA","authors":"Asmah Laili Yeon, Uni Tsulasi Putri","doi":"10.32890/jis2022.18.2","DOIUrl":"https://doi.org/10.32890/jis2022.18.2","url":null,"abstract":"Equity crowdfunding (ECF), also known as crowd-investing or investment crowdfunding, is a way of boosting capital used by start-ups and early-stage companies. Fundamentally, ECF offers the company’s securities to potential investors in exchange for their investment. As a result, each investor is authorized to a share in the company proportionate to their financing. This paper discusses the ECF industry regulations in Malaysia and Indonesia in terms of its prospects and challenges during the COVID-19 pandemic through doctrinal research using the conventional legal method. Critical and analytical approaches were used to achieve its objectives. The findings showed that ECF has seen a growth of over 170% in new accounts registered in Malaysia, with 65% of them being retail investors. There is a great demand from individual and retail investors who are looking to invest in various investment products and services made accessible to them. The Capital Markets and Services Act 2007 plays an important role to provide good governance of ECF business in Malaysia. Further, the Guidelines on Recognized Markets (GRM 2020) (Item 1.01 GRM) and section 15 (g) of the Securities Commission Act 1993 clarifies the function of the Securities Commission to regulate ECF activities and protect the interests of the parties involved, especially investors. In Indonesia, the main regulator of ECF is the Financial Services Authority and the new ECF law is the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning Securities Crowdfunding. The regulation aims to extend the scope of the crowdfunding which includes debt-based securities and sukuk. The prospects of ECF business in both countries are great especially in the era of the pandemic because the fintech, which has led to new investment products and services, is a vital force that helps democratize investments and will continue to increase as investors become more educated and informed. In terms of the ECF law, comparatively, it is different in terms of the governance, process and procedure, types of investors, etc. which are applicable in both Malaysia and Indonesia.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"27 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88163666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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