Pub Date : 2019-03-29DOI: 10.1504/IJPP.2019.099053
A. Vlachogiannis
The goal of this article is to shed light on the ambiguous role of the Hellenic Republic Asset Development Fund (HRADF) and show that the privatisation program devised is inextricably linked to the bailout agreements signed between Greece and its lenders. The HRADF was established in order to carry out a vast program of privatisation in order to generate revenue and create the conditions for economic development. However, because of the pressure exercised both by the lenders and financial necessities, it has lacked to a certain extent democratic accountability and transparency. For the same reason, although constitutional limits on privatisation have indeed been recognised in theory, courts have been reluctant to block any specific privatisation. It is important to note that the creation of the new super-Fund seems to exacerbate these deficiencies by placing almost all important assets of the State under the supervision of the lenders.
{"title":"The Greek experience of privatisation through the Hellenic Republic Asset Development Fund","authors":"A. Vlachogiannis","doi":"10.1504/IJPP.2019.099053","DOIUrl":"https://doi.org/10.1504/IJPP.2019.099053","url":null,"abstract":"The goal of this article is to shed light on the ambiguous role of the Hellenic Republic Asset Development Fund (HRADF) and show that the privatisation program devised is inextricably linked to the bailout agreements signed between Greece and its lenders. The HRADF was established in order to carry out a vast program of privatisation in order to generate revenue and create the conditions for economic development. However, because of the pressure exercised both by the lenders and financial necessities, it has lacked to a certain extent democratic accountability and transparency. For the same reason, although constitutional limits on privatisation have indeed been recognised in theory, courts have been reluctant to block any specific privatisation. It is important to note that the creation of the new super-Fund seems to exacerbate these deficiencies by placing almost all important assets of the State under the supervision of the lenders.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJPP.2019.099053","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49415742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-29DOI: 10.1504/IJPP.2019.099051
S. Lansley, D. Mccann, Steve Schifferes
Citizens' wealth funds (CWFs) can be a key tool in tackling the growing disparity of wealth between the public and private sector and helping improve inter-generational fairness. They can also be a powerful pro-equality force. Such funds would be commercially managed and independently run, but held in trust for the public, with the dividends but not the capital used for social purposes. Some governments (including Singapore, Alaska, Australia and Norway) have successfully built up large funds, using the proceeds of natural resource extraction or privatisation. Getting public buy-in is the key to the success of such funds - and some of the most successful hypothecate the revenues to specific aims, for example a citizen's annual dividend (a kind of basic income) or to pay government pensions.
{"title":"The case for citizens' wealth funds","authors":"S. Lansley, D. Mccann, Steve Schifferes","doi":"10.1504/IJPP.2019.099051","DOIUrl":"https://doi.org/10.1504/IJPP.2019.099051","url":null,"abstract":"Citizens' wealth funds (CWFs) can be a key tool in tackling the growing disparity of wealth between the public and private sector and helping improve inter-generational fairness. They can also be a powerful pro-equality force. Such funds would be commercially managed and independently run, but held in trust for the public, with the dividends but not the capital used for social purposes. Some governments (including Singapore, Alaska, Australia and Norway) have successfully built up large funds, using the proceeds of natural resource extraction or privatisation. Getting public buy-in is the key to the success of such funds - and some of the most successful hypothecate the revenues to specific aims, for example a citizen's annual dividend (a kind of basic income) or to pay government pensions.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJPP.2019.099051","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42486828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-29DOI: 10.1504/IJPP.2019.099048
Dag Detter, Stefan Fölster
Most countries' public assets exceed their public debt. While managing public debt has become a matter of great concern during the financial crisis, public assets remain opaque and largely ignored. This article provides some explorative calculations on the size of public wealth at the national level and for some example cities. We describe how some countries and cities are experimenting with institutional setups, such as national and urban wealth funds, aiming to achieve sounder management, better economic outcomes and more transparency for voters.
{"title":"The potential of state commercial property: mapping and managing non-financial public assets","authors":"Dag Detter, Stefan Fölster","doi":"10.1504/IJPP.2019.099048","DOIUrl":"https://doi.org/10.1504/IJPP.2019.099048","url":null,"abstract":"Most countries' public assets exceed their public debt. While managing public debt has become a matter of great concern during the financial crisis, public assets remain opaque and largely ignored. This article provides some explorative calculations on the size of public wealth at the national level and for some example cities. We describe how some countries and cities are experimenting with institutional setups, such as national and urban wealth funds, aiming to achieve sounder management, better economic outcomes and more transparency for voters.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJPP.2019.099048","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66663144","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-29DOI: 10.1504/IJPP.2019.099047
A. Cumbers
As public ownership comes back into fashion following the failings and growing contradictions of neoliberal processes of marketisation and privatisation, it is important to learn the lessons for public policy from earlier processes of nationalisation. In this article, I compare the post 1945 experiences of nationalisation in the UK and France. Both countries underwent sweeping processes of nationalisation in the aftermath of the Second World War amidst a broader international shift towards a more state driven model of economic development under capitalism. However, the two experiences of nationalisation diverged considerably, reflecting underlying differences in past forms of economic development, the different balance of class forces and the integration of each country into the broader global economy. The article suggests that these experiences remind us of the importance of a variegated perspective on the evolution of capitalism, distinctive political-economic trajectories and situating major policy shifts in time and space.
{"title":"A tale of two nationalisations: experiences of post 1945 public ownership in the UK and France compared","authors":"A. Cumbers","doi":"10.1504/IJPP.2019.099047","DOIUrl":"https://doi.org/10.1504/IJPP.2019.099047","url":null,"abstract":"As public ownership comes back into fashion following the failings and growing contradictions of neoliberal processes of marketisation and privatisation, it is important to learn the lessons for public policy from earlier processes of nationalisation. In this article, I compare the post 1945 experiences of nationalisation in the UK and France. Both countries underwent sweeping processes of nationalisation in the aftermath of the Second World War amidst a broader international shift towards a more state driven model of economic development under capitalism. However, the two experiences of nationalisation diverged considerably, reflecting underlying differences in past forms of economic development, the different balance of class forces and the integration of each country into the broader global economy. The article suggests that these experiences remind us of the importance of a variegated perspective on the evolution of capitalism, distinctive political-economic trajectories and situating major policy shifts in time and space.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJPP.2019.099047","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46109827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-29DOI: 10.1504/IJPP.2019.099057
M. Kelly, Thomas M. Hanna
A quiet ownership revolution is underway in the USA, one that holds tremendous promise for a new age of economic, social, and environmental justice. The old trio of conventional public, private, and non-profit ownership forms is no longer adequate to encompass the evolution and hybridisation of institutional forms currently underway. This paper offers a taxonomy of democratic ownership models, an exploration of new innovations emerging, and observations on how these models might be scaled up to create an economy of enduring, broadly enjoyed prosperity.
{"title":"Democratic ownership in the USA: a quiet revolution","authors":"M. Kelly, Thomas M. Hanna","doi":"10.1504/IJPP.2019.099057","DOIUrl":"https://doi.org/10.1504/IJPP.2019.099057","url":null,"abstract":"A quiet ownership revolution is underway in the USA, one that holds tremendous promise for a new age of economic, social, and environmental justice. The old trio of conventional public, private, and non-profit ownership forms is no longer adequate to encompass the evolution and hybridisation of institutional forms currently underway. This paper offers a taxonomy of democratic ownership models, an exploration of new innovations emerging, and observations on how these models might be scaled up to create an economy of enduring, broadly enjoyed prosperity.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJPP.2019.099057","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42959368","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-01-01DOI: 10.1504/ijpp.2019.10024607
Satu Rinkinen, Vesa Harmaakorpi
The concepts of business ecosystem and innovation ecosystem have become highly utilised in business and innovation studies. However, research on the innovation policy implications of these concepts and the ways ecosystems emerge and evolve is still rather scant. This study utilised a multiple case study approach to study real-life business and innovation ecosystems in an innovation policy context. Based on the case study findings and other empirical data, the key elements of ecosystem-based innovation policy were outlined. Business and innovation ecosystems are strongly self-organising and the role of the public sector is to support their self-renewal capacity. Ecosystem-based policy approach consists of elements such as testing and experimentation culture, funding through public procurement and positive questioning of existing procedures and it crosses the traditional policy boundaries. Adopting the ecosystem perspective in policymaking requires interaction between different policy fields and levels.
{"title":"Business and innovation ecosystems: innovation policy implications","authors":"Satu Rinkinen, Vesa Harmaakorpi","doi":"10.1504/ijpp.2019.10024607","DOIUrl":"https://doi.org/10.1504/ijpp.2019.10024607","url":null,"abstract":"The concepts of business ecosystem and innovation ecosystem have become highly utilised in business and innovation studies. However, research on the innovation policy implications of these concepts and the ways ecosystems emerge and evolve is still rather scant. This study utilised a multiple case study approach to study real-life business and innovation ecosystems in an innovation policy context. Based on the case study findings and other empirical data, the key elements of ecosystem-based innovation policy were outlined. Business and innovation ecosystems are strongly self-organising and the role of the public sector is to support their self-renewal capacity. Ecosystem-based policy approach consists of elements such as testing and experimentation culture, funding through public procurement and positive questioning of existing procedures and it crosses the traditional policy boundaries. Adopting the ecosystem perspective in policymaking requires interaction between different policy fields and levels.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66662710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-10DOI: 10.1504/IJPP.2018.10017943
Yaechan Lee, J. S. Mah
Recognising the importance of technological growth, the Korean Government has tried to promote venture businesses through financial and tax incentives as well as infrastructure provision. The number of venture businesses increased rapidly during the mid-2010s. Although the number of M&As has grown, that of venture businesses funded mostly from venture capital remains low, which is a challenge to be addressed. The experience of Korea regarding the venture business promotion policy provides policy implications for countries, middle-income developing countries in particular, trying to promote venture businesses. Among others, a government policy that relies heavily on large firms may lead to structural problems. Developing countries that lack institutions promoting venture businesses need to introduce and/or strengthen policy measures and institutions such as venture capital, tax incentives, credit guarantee schemes, angel investment, crowdfunding and M&As for exits.
{"title":"Korea's venture business policy and its implications for developing countries","authors":"Yaechan Lee, J. S. Mah","doi":"10.1504/IJPP.2018.10017943","DOIUrl":"https://doi.org/10.1504/IJPP.2018.10017943","url":null,"abstract":"Recognising the importance of technological growth, the Korean Government has tried to promote venture businesses through financial and tax incentives as well as infrastructure provision. The number of venture businesses increased rapidly during the mid-2010s. Although the number of M&As has grown, that of venture businesses funded mostly from venture capital remains low, which is a challenge to be addressed. The experience of Korea regarding the venture business promotion policy provides policy implications for countries, middle-income developing countries in particular, trying to promote venture businesses. Among others, a government policy that relies heavily on large firms may lead to structural problems. Developing countries that lack institutions promoting venture businesses need to introduce and/or strengthen policy measures and institutions such as venture capital, tax incentives, credit guarantee schemes, angel investment, crowdfunding and M&As for exits.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"14 1","pages":"343-359"},"PeriodicalIF":0.0,"publicationDate":"2018-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46952576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-10DOI: 10.1504/IJPP.2018.10017940
Hiteshkumar Thakkar
The global financial integration (GFI) has augmented the international financial flow movement without restructuring global financial regulatory system (GFRS). The goal of the global financial regulatory system is to maintain global level stability. In GFRS, the financial stability board (FSB) is responsible for the macro-prudential regulation and the micro-prudential regulation is monitored by international standard setting bodies (SSBs), international financial institutions (IMF and World Bank) and national financial regulators. These micro-prudential regulation and macro-prudential regulation are non-binding in the legal sense. However, these regulations examine as a standard of efficiency. The member nations are strictly implementing the standards because it provides stringent firewall during the unwanted financial turmoil. It also reflects the strength of the member nation. So, the evolution of micro-prudential regulation and macro-prudential regulation is a continuous process; it has to be evolved and developed as per the dynamic changes in the global financial system.
{"title":"Evolution of micro-prudential regulators and macro-prudential regulators in the global financial regulatory system","authors":"Hiteshkumar Thakkar","doi":"10.1504/IJPP.2018.10017940","DOIUrl":"https://doi.org/10.1504/IJPP.2018.10017940","url":null,"abstract":"The global financial integration (GFI) has augmented the international financial flow movement without restructuring global financial regulatory system (GFRS). The goal of the global financial regulatory system is to maintain global level stability. In GFRS, the financial stability board (FSB) is responsible for the macro-prudential regulation and the micro-prudential regulation is monitored by international standard setting bodies (SSBs), international financial institutions (IMF and World Bank) and national financial regulators. These micro-prudential regulation and macro-prudential regulation are non-binding in the legal sense. However, these regulations examine as a standard of efficiency. The member nations are strictly implementing the standards because it provides stringent firewall during the unwanted financial turmoil. It also reflects the strength of the member nation. So, the evolution of micro-prudential regulation and macro-prudential regulation is a continuous process; it has to be evolved and developed as per the dynamic changes in the global financial system.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"14 1","pages":"408-422"},"PeriodicalIF":0.0,"publicationDate":"2018-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45185872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-10DOI: 10.1504/IJPP.2018.096700
G. Parvin, R. Rahman, Kumiko Fujita, R. Shaw
Flood is a critical issue in Bangladesh. Regular flooding affects 20% of the country, increasing in extreme years. Various measures, policy planning and actions have been taken in different time period. Legislation and policy planning are essential for flood management, which should be guided by distinct policy, strategies, legal frameworks, and action planning. A review of legislative and institutional arrangements is required for effective and sustainable flood management. In this research, the evolution of flood management actions and policies is reviewed considering the related environmental and social changes. The approach to flood management is shifting to a more comprehensive risk reduction effort following environmental changes such as climate change. Extreme floods are increasing. The history of extreme flood management is short compared to that of annual flood management. However, extreme floods have significant impacts. Thus, a holistic approach by all stakeholders is encouraged. This review could help to examine how to increase local involvement in flood control and water management projects.
{"title":"Overview of flood management actions and policy planning in Bangladesh","authors":"G. Parvin, R. Rahman, Kumiko Fujita, R. Shaw","doi":"10.1504/IJPP.2018.096700","DOIUrl":"https://doi.org/10.1504/IJPP.2018.096700","url":null,"abstract":"Flood is a critical issue in Bangladesh. Regular flooding affects 20% of the country, increasing in extreme years. Various measures, policy planning and actions have been taken in different time period. Legislation and policy planning are essential for flood management, which should be guided by distinct policy, strategies, legal frameworks, and action planning. A review of legislative and institutional arrangements is required for effective and sustainable flood management. In this research, the evolution of flood management actions and policies is reviewed considering the related environmental and social changes. The approach to flood management is shifting to a more comprehensive risk reduction effort following environmental changes such as climate change. Extreme floods are increasing. The history of extreme flood management is short compared to that of annual flood management. However, extreme floods have significant impacts. Thus, a holistic approach by all stakeholders is encouraged. This review could help to examine how to increase local involvement in flood control and water management projects.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"14 1","pages":"423-443"},"PeriodicalIF":0.0,"publicationDate":"2018-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJPP.2018.096700","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44878809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-10DOI: 10.1504/IJPP.2018.10017926
Alwi, Rulinawaty Kasmad
The main objective of this research is to develop capability of local collaborative network in the implementation of cocoa business development policy in Indonesia. The results of pairing patterns and time series techniques showed that the farmer groups as local collaborative network was unable to carry out the policy effectively. This is due to the fact that the government as initiator did not facilitate them to design operational programs that can increase cocoa productivity. Then, their commitment to the program of Gernas Kakao (Cocoa National Movement) was very low. Therefore, local collaborative network as a place for the all stakeholders in the cocoa business development requires coordination mechanism and commitment among them to design and implement the operational programmes of the Gernas Kakao.
{"title":"Local collaborative network: is it smart implementer of the cocoa business development policy in Indonesia?","authors":"Alwi, Rulinawaty Kasmad","doi":"10.1504/IJPP.2018.10017926","DOIUrl":"https://doi.org/10.1504/IJPP.2018.10017926","url":null,"abstract":"The main objective of this research is to develop capability of local collaborative network in the implementation of cocoa business development policy in Indonesia. The results of pairing patterns and time series techniques showed that the farmer groups as local collaborative network was unable to carry out the policy effectively. This is due to the fact that the government as initiator did not facilitate them to design operational programs that can increase cocoa productivity. Then, their commitment to the program of Gernas Kakao (Cocoa National Movement) was very low. Therefore, local collaborative network as a place for the all stakeholders in the cocoa business development requires coordination mechanism and commitment among them to design and implement the operational programmes of the Gernas Kakao.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"14 1","pages":"374"},"PeriodicalIF":0.0,"publicationDate":"2018-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48953974","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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