Pub Date : 2023-03-13DOI: 10.1080/03085147.2023.2172252
Yuval Millo, Crawford Spence, James J. Valentine
Abstract Financial markets have witnessed a dramatic shift in financial flows in recent years from Active fund management where professional investors attempt to beat the market (generate ‘alpha’) to Passive investment where portfolios are assembled that follow existing market indicators (track ‘beta’). This transition has important implications for both corporate governance and wider society, with potentially significant distributive effects. Passive investing is predicated upon different bodies of knowledge and is suggestive of an epistemic shift of sorts in financial markets. In such circumstances, field theory suggests that incumbent groups like Active players will try to adapt to the new rules of the investment game. However, drawing from an empirical study which explores the views of the Active investment community in both the United Kingdom and the United States, we document significant defensiveness vis-à-vis the rise of Passive investing. Whereas behavioural approaches might explain this defensiveness in terms of irrationality, the conceptual approach advanced here instead emphasizes the epistemic opportunism (convoluted and self-serving attempts to demonstrate superior knowledge) that communities strategically engage in to justify their position. As such, we conclude that financial markets should be understood as constituted by slowly evolving communities of practice whose habits, routines and ways of knowing can be difficult to shift, even when faced with overwhelming evidence that what they are doing doesn’t work most of the time.
{"title":"Active fund managers and the rise of passive investing: Epistemic opportunism in financial markets","authors":"Yuval Millo, Crawford Spence, James J. Valentine","doi":"10.1080/03085147.2023.2172252","DOIUrl":"https://doi.org/10.1080/03085147.2023.2172252","url":null,"abstract":"Abstract\u0000 Financial markets have witnessed a dramatic shift in financial flows in recent years from Active fund management where professional investors attempt to beat the market (generate ‘alpha’) to Passive investment where portfolios are assembled that follow existing market indicators (track ‘beta’). This transition has important implications for both corporate governance and wider society, with potentially significant distributive effects. Passive investing is predicated upon different bodies of knowledge and is suggestive of an epistemic shift of sorts in financial markets. In such circumstances, field theory suggests that incumbent groups like Active players will try to adapt to the new rules of the investment game. However, drawing from an empirical study which explores the views of the Active investment community in both the United Kingdom and the United States, we document significant defensiveness vis-à-vis the rise of Passive investing. Whereas behavioural approaches might explain this defensiveness in terms of irrationality, the conceptual approach advanced here instead emphasizes the epistemic opportunism (convoluted and self-serving attempts to demonstrate superior knowledge) that communities strategically engage in to justify their position. As such, we conclude that financial markets should be understood as constituted by slowly evolving communities of practice whose habits, routines and ways of knowing can be difficult to shift, even when faced with overwhelming evidence that what they are doing doesn’t work most of the time.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78843270","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 : 2023-03-09DOI: 10.1080/03085147.2023.2175449
T. Fleckenstein, Soohyung Lee, Sam Mohun Himmelweit
Abstract This paper explores the relationship between labour market dualization, insecurity and low fertility, through a case study of South Korea, an extreme case of ultra-low fertility where the total fertility rate fell to 0.84 in 2020. It is argued that the long-term nature of the insecurity associated with dualization, as well as its impact on people’s perceptions of present and future insecurity, mark dualization out as a particular phenomenon whose impact on fertility current demographic approaches struggle to fully understand. Rather than restricting the focus to the education-employment transition, we show how permanent insecurity in highly dualized labour markets depresses fertility.
{"title":"Labour market dualization, permanent insecurity and fertility: The case of ultra-low fertility in South Korea","authors":"T. Fleckenstein, Soohyung Lee, Sam Mohun Himmelweit","doi":"10.1080/03085147.2023.2175449","DOIUrl":"https://doi.org/10.1080/03085147.2023.2175449","url":null,"abstract":"Abstract This paper explores the relationship between labour market dualization, insecurity and low fertility, through a case study of South Korea, an extreme case of ultra-low fertility where the total fertility rate fell to 0.84 in 2020. It is argued that the long-term nature of the insecurity associated with dualization, as well as its impact on people’s perceptions of present and future insecurity, mark dualization out as a particular phenomenon whose impact on fertility current demographic approaches struggle to fully understand. Rather than restricting the focus to the education-employment transition, we show how permanent insecurity in highly dualized labour markets depresses fertility.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72508623","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 : 2023-03-06DOI: 10.1080/03085147.2022.2131278
M. Lawhon, Tyler McCreary
Abstract Cash transfers as a response to poverty and unemployment have moved to mainstream political practice. From global south developmental policy to pandemic payments, there is growing concern with relying on employment for income. Many on the left have been sceptical of, and at times opposed to, such transfers, instead urging direct state provisioning, improved employment, or economic transformation beyond the state. Here, we develop an alternative position, rooted in cautious optimism about the open-ended implications of cash transfers. We consider the possibility that providing a durable, redistributive universal basic income might enable escape from unjust economic relations, underwrite diverse economies, and free time to expand democratic practice. We frame this not as an assured outcome but as a possibility, one those concerned with radical, anti-kyriarchal politics might engage in creating.
{"title":"Making UBI radical: On the potential for a universal basic income to underwrite transformative and anti-kyriarchal change","authors":"M. Lawhon, Tyler McCreary","doi":"10.1080/03085147.2022.2131278","DOIUrl":"https://doi.org/10.1080/03085147.2022.2131278","url":null,"abstract":"Abstract Cash transfers as a response to poverty and unemployment have moved to mainstream political practice. From global south developmental policy to pandemic payments, there is growing concern with relying on employment for income. Many on the left have been sceptical of, and at times opposed to, such transfers, instead urging direct state provisioning, improved employment, or economic transformation beyond the state. Here, we develop an alternative position, rooted in cautious optimism about the open-ended implications of cash transfers. We consider the possibility that providing a durable, redistributive universal basic income might enable escape from unjust economic relations, underwrite diverse economies, and free time to expand democratic practice. We frame this not as an assured outcome but as a possibility, one those concerned with radical, anti-kyriarchal politics might engage in creating.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78359967","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 : 2023-02-13DOI: 10.1080/03085147.2023.2168370
Mathieu Chaput, Alexander Paulsson
Abstract The food industry occupies a large portion of the plate in the study of moral markets. Moral markets for food include fair trade goods, organic products, family farmers initiatives, as well as plant-based meat alternatives, the focus of this paper. Driven by a growing concern for animal welfare, sustainability and the responsible use of resources, various companies launched products that successfully duplicate the taste, look and overall experience of meat eating, without the dire impacts of the meat industry on human, animal and environmental health. In this paper, we explore the formation of a market for plant-based meat as a communicative accomplishment. To do so, we analyse the rhetoric of one of its leading companies: Beyond Meat. By tracing the development of this food-tech company, we show that Beyond Meat’s activist-like rhetoric has contributed to the formation of a market based on the moral criterion of efficiency, which is achieved by bypassing the animal in meat production and by creating a transcending collective identity for meat-eaters of all sorts. Contrary to the more common process where moralized products move from social movement to market, we here theorize the formation of a moralized market that is depicted as a movement.
{"title":"Bypassing the animal: Plant-based meat and the communicative constitution of a moral market","authors":"Mathieu Chaput, Alexander Paulsson","doi":"10.1080/03085147.2023.2168370","DOIUrl":"https://doi.org/10.1080/03085147.2023.2168370","url":null,"abstract":"Abstract The food industry occupies a large portion of the plate in the study of moral markets. Moral markets for food include fair trade goods, organic products, family farmers initiatives, as well as plant-based meat alternatives, the focus of this paper. Driven by a growing concern for animal welfare, sustainability and the responsible use of resources, various companies launched products that successfully duplicate the taste, look and overall experience of meat eating, without the dire impacts of the meat industry on human, animal and environmental health. In this paper, we explore the formation of a market for plant-based meat as a communicative accomplishment. To do so, we analyse the rhetoric of one of its leading companies: Beyond Meat. By tracing the development of this food-tech company, we show that Beyond Meat’s activist-like rhetoric has contributed to the formation of a market based on the moral criterion of efficiency, which is achieved by bypassing the animal in meat production and by creating a transcending collective identity for meat-eaters of all sorts. Contrary to the more common process where moralized products move from social movement to market, we here theorize the formation of a moralized market that is depicted as a movement.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75244897","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 : 2023-01-25DOI: 10.1080/03085147.2022.2154501
Yichen Rao, T. McDonald
Abstract This paper undertakes an analysis of publicly posted videos sharing debtors’ strategies for responding to overzealous credit collection agencies during the earliest stages of the pandemic lockdown. It examines how Chinese debtors and credit collection callers responded to the uncertainties surrounding the handling of personal debts when the debtors’ economic activities are heavily restricted. Both parties invoked different imagined collectivities to establish their own moral justifications with regards to debt obligations, state regulations and family values. The paper argues for a recognition of the capacity of debt to collectivize people through loose discursive formations that remoralize debt, recasting the defaulter status as morally acceptable and reshaping their defaulter identities. The imaginative and discursive space built upon debt’s collectivizing potential presents a valuable analytical tool for understanding the social dimensions of debt and the dynamic emerging of financial subjectivities in the contemporary era.
{"title":"Debt at a distance: Counter-collection strategies and financial subjectivities of China’s working-class defaulters during COVID-19","authors":"Yichen Rao, T. McDonald","doi":"10.1080/03085147.2022.2154501","DOIUrl":"https://doi.org/10.1080/03085147.2022.2154501","url":null,"abstract":"Abstract This paper undertakes an analysis of publicly posted videos sharing debtors’ strategies for responding to overzealous credit collection agencies during the earliest stages of the pandemic lockdown. It examines how Chinese debtors and credit collection callers responded to the uncertainties surrounding the handling of personal debts when the debtors’ economic activities are heavily restricted. Both parties invoked different imagined collectivities to establish their own moral justifications with regards to debt obligations, state regulations and family values. The paper argues for a recognition of the capacity of debt to collectivize people through loose discursive formations that remoralize debt, recasting the defaulter status as morally acceptable and reshaping their defaulter identities. The imaginative and discursive space built upon debt’s collectivizing potential presents a valuable analytical tool for understanding the social dimensions of debt and the dynamic emerging of financial subjectivities in the contemporary era.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75811389","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 : 2023-01-02DOI: 10.1080/03085147.2023.2157584
P. Langley, Samantha Ashenden, A. Barry, Laura Bear, A. Kelly, L. McGoey, M. Molyneux, Daniel Neyland, Bronwyn Parry, Fran Tonkiss, Gisa Weszkalnys
Abstract Professor Nigel Dodd was a long-standing and much-loved member of the Editorial Board of Economy and Society. He sadly passed away in August 2022. In this short piece, we express our heartfelt gratitude for Nigel’s contributions to the journal and briefly introduce a virtual collection of four papers assembled to register our appreciation. The papers are free to access from the Collections section of our website throughout 2023, and include Nigel’s ‘Reinventing monies in Europe’, published in Economy and Society in 2005.
奈杰尔·多德(Nigel Dodd)教授是《经济与社会》(economic and Society)编委会长期以来备受爱戴的成员。2022年8月，他不幸去世。在这篇短文中，我们对Nigel对杂志的贡献表示衷心的感谢，并简要介绍了四篇论文的虚拟合集，以表达我们的感激之情。这些论文在2023年都可以从我们网站的文集部分免费获取，其中包括奈杰尔2005年发表在《经济与社会》杂志上的《重塑欧洲货币》。
{"title":"Nigel Dodd: An appreciation","authors":"P. Langley, Samantha Ashenden, A. Barry, Laura Bear, A. Kelly, L. McGoey, M. Molyneux, Daniel Neyland, Bronwyn Parry, Fran Tonkiss, Gisa Weszkalnys","doi":"10.1080/03085147.2023.2157584","DOIUrl":"https://doi.org/10.1080/03085147.2023.2157584","url":null,"abstract":"Abstract Professor Nigel Dodd was a long-standing and much-loved member of the Editorial Board of Economy and Society. He sadly passed away in August 2022. In this short piece, we express our heartfelt gratitude for Nigel’s contributions to the journal and briefly introduce a virtual collection of four papers assembled to register our appreciation. The papers are free to access from the Collections section of our website throughout 2023, and include Nigel’s ‘Reinventing monies in Europe’, published in Economy and Society in 2005.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76607206","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 : 2023-01-01DOI: 10.52174/29538114_2023.1-129
Hakob Tarposhyan
The purpose of this research is to study the impact of institutions on public health, as well as to identify those institutions that have the greatest impact on public health. Life expectancy was chosen as the indicator describing public health, and six component elements of the World Bank's Governance Quality (WGI) were used to assess the institutional quality of countries. The basis of the research is the study of scientific materials and the performed panel regression analysis. As a result of the research, it became clear that institutional quality has a positive and significant effect on life expectancy. Apart from that, improving the effectiveness of the government and strengthening the rule of law has the greatest impact on institutional indicators. Accordingly, policies aimed at improving institutional quality can have a significant positive impact on public health. The results are consistent with other studies that have examined the role of institutional quality in determining life expectancy in different regions of the world. In addition to providing a basis for policy development, the research can also contribute to improving the quality of further research in the field.
{"title":"Ինստիտուցիոնալ որակի ազդեցությունը կյանքի տևողության վրա. պանելային տվյալների ռեգրեսիոն վերլուծություն / The Impact of Institutional Quality on Life Expectancy: Evidence from Panel Regression Analysis","authors":"Hakob Tarposhyan","doi":"10.52174/29538114_2023.1-129","DOIUrl":"https://doi.org/10.52174/29538114_2023.1-129","url":null,"abstract":"The purpose of this research is to study the impact of institutions on public health, as well as to identify those institutions that have the greatest impact on public health. Life expectancy was chosen as the indicator describing public health, and six component elements of the World Bank's Governance Quality (WGI) were used to assess the institutional quality of countries. The basis of the research is the study of scientific materials and the performed panel regression analysis. As a result of the research, it became clear that institutional quality has a positive and significant effect on life expectancy. Apart from that, improving the effectiveness of the government and strengthening the rule of law has the greatest impact on institutional indicators. Accordingly, policies aimed at improving institutional quality can have a significant positive impact on public health. The results are consistent with other studies that have examined the role of institutional quality in determining life expectancy in different regions of the world. In addition to providing a basis for policy development, the research can also contribute to improving the quality of further research in the field.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80590284","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}
In the current global economy, the role and importance of national economies of individual countries, as well as the economic unions of countries, are characterized based on various indicators, with a special emphasis on innovations and innovative activities. For this purpose, the viewpoints and approaches presented by various authors regarding innovations were researched and identified, the content and importance of innovations in strengthening the state and increasing the rate of economic growth were revealed. By researching the global and regional indicators and developments of the mentioned field, the authors made appropriate analyses and came to a number of conclusions that can be useful for the development and implementation of an effective policy of scientific and scientific-technical activities in the Republic of Armenia, which will greatly contribute to increasing the competitiveness of that type of activity, both in the global market and in regional development. The authors acknowledge that considerable work has been done in the RA to change and improve the state of affairs in the field of scientific and scientific-technological activities. Several legislative acts have been adopted, aiming to enhance the efficiency of these activities. However, the implemented measures lack a systematic and complex nature and serve rather to partially solve local problems arising in the field.
{"title":"Հայաստանը ժամանակակից նորարարական գործունեության համատեքստում / Armenia in the Context of Modern Innovative Activities","authors":"Ashot Markosyan, Elyanora Matevosyan, Meruzhan Markosyan","doi":"10.52174/29538114_2023.1-65","DOIUrl":"https://doi.org/10.52174/29538114_2023.1-65","url":null,"abstract":"In the current global economy, the role and importance of national economies of individual countries, as well as the economic unions of countries, are characterized based on various indicators, with a special emphasis on innovations and innovative activities. For this purpose, the viewpoints and approaches presented by various authors regarding innovations were researched and identified, the content and importance of innovations in strengthening the state and increasing the rate of economic growth were revealed. By researching the global and regional indicators and developments of the mentioned field, the authors made appropriate analyses and came to a number of conclusions that can be useful for the development and implementation of an effective policy of scientific and scientific-technical activities in the Republic of Armenia, which will greatly contribute to increasing the competitiveness of that type of activity, both in the global market and in regional development. The authors acknowledge that considerable work has been done in the RA to change and improve the state of affairs in the field of scientific and scientific-technological activities. Several legislative acts have been adopted, aiming to enhance the efficiency of these activities. However, the implemented measures lack a systematic and complex nature and serve rather to partially solve local problems arising in the field.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85158848","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 : 2023-01-01DOI: 10.52174/29538114_2023.1-138
Izabella Abgaryan
Taking a professional text as the main educational and methodological tool in teaching a foreign language for special purposes, the paper attempts to present modern approaches to the transmission, perception, analysis, memorization and other processes related to working with a text, which, in addition to the main goal of teaching a foreign language for special purposes, develop a number of skills and opportunities necessary for further professional activities. It is not only in terms of learning a foreign professional language, but also in those of the development of a number of important skills in students that will help them in the future to more easily cope with tasks for identifying the level of foreign language proficiency, assigned by both international and some local employers. As an alternative to usual methods, which mainly focus on memory and a number of mechanical actions for perception, memorization, reproduction of a foreign text, vocabulary enrichment, the proposed approaches activate a number of neurolinguistic features of students, in particular, centers of cognitive perception. Instead of the standard scheme of working with texts according to the “read-translate-retell” formula, strategic reading methods are proposed, including elements, such as activation, generalization, monitoring and clarification, visualization and organization, information search and selection, questioning and making assumptions, as well revealing the semantic core, analysis and synthesis of both written and oral texts.
{"title":"Մասնագիտական օտարալեզու տեքստերի վրա աշխատանքի արդի մոտեցումները ոչ լեզվաբանական մասնագիտությունների խմբերում / Modern approaches to working with Professional Texts in Non-Linguistic Disciplinary Groups","authors":"Izabella Abgaryan","doi":"10.52174/29538114_2023.1-138","DOIUrl":"https://doi.org/10.52174/29538114_2023.1-138","url":null,"abstract":"Taking a professional text as the main educational and methodological tool in teaching a foreign language for special purposes, the paper attempts to present modern approaches to the transmission, perception, analysis, memorization and other processes related to working with a text, which, in addition to the main goal of teaching a foreign language for special purposes, develop a number of skills and opportunities necessary for further professional activities. It is not only in terms of learning a foreign professional language, but also in those of the development of a number of important skills in students that will help them in the future to more easily cope with tasks for identifying the level of foreign language proficiency, assigned by both international and some local employers. As an alternative to usual methods, which mainly focus on memory and a number of mechanical actions for perception, memorization, reproduction of a foreign text, vocabulary enrichment, the proposed approaches activate a number of neurolinguistic features of students, in particular, centers of cognitive perception. Instead of the standard scheme of working with texts according to the “read-translate-retell” formula, strategic reading methods are proposed, including elements, such as activation, generalization, monitoring and clarification, visualization and organization, information search and selection, questioning and making assumptions, as well revealing the semantic core, analysis and synthesis of both written and oral texts.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81707511","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 : 2023-01-01DOI: 10.52174/29538114_2023.1-21
Gayane Avagyan, Knarik Vardany
Public-Private Partnership (PPP) is widely recognized in the world as an effective mechanism contributing to the implementation of significant public programs, particularly in infrastructure formation, development, and service provision. This paper highlights the crucial role of public-private partnership in the development of infrastructures, and also emphasizes the importance of combining material, financial, human resources of both the state and private sectors. It argues that public-private partnerships are effective because they leverage private sector technologies and innovations while utilizing public sector incentives, acknowledging that government funds alone cannot finance all infrastructure maintenance and development projects. As a result of combining state and business resources within the implemented projects, additional competitive advantages are formed, and risks are distributed between the state and business entities. In the Republic of Armenia, where public financial resources are limited, there is a decline in the quality of services provided to the population and a number of obligations carried out by the state. In the current situation, the importance of PPP formation and development is undeniable, which in the long run will lead to a stable qualitative growth of infrastructures and provided services. The authors presented the PPP programs implemented in some sectors of the RA economy, identified their features. The findings of the study allowed us to conclude that the implementation of PPP programs in our country can also become the pillar of innovative development of production and social infrastructures.
{"title":"Պետություն-մասնավոր գործընկերությունը որպես ենթակառուցվածքների զարգացման խթան / Public-Private Partnership as a Promotion for Infrastructure Development","authors":"Gayane Avagyan, Knarik Vardany","doi":"10.52174/29538114_2023.1-21","DOIUrl":"https://doi.org/10.52174/29538114_2023.1-21","url":null,"abstract":"Public-Private Partnership (PPP) is widely recognized in the world as an effective mechanism contributing to the implementation of significant public programs, particularly in infrastructure formation, development, and service provision. This paper highlights the crucial role of public-private partnership in the development of infrastructures, and also emphasizes the importance of combining material, financial, human resources of both the state and private sectors. It argues that public-private partnerships are effective because they leverage private sector technologies and innovations while utilizing public sector incentives, acknowledging that government funds alone cannot finance all infrastructure maintenance and development projects. As a result of combining state and business resources within the implemented projects, additional competitive advantages are formed, and risks are distributed between the state and business entities. In the Republic of Armenia, where public financial resources are limited, there is a decline in the quality of services provided to the population and a number of obligations carried out by the state. In the current situation, the importance of PPP formation and development is undeniable, which in the long run will lead to a stable qualitative growth of infrastructures and provided services. The authors presented the PPP programs implemented in some sectors of the RA economy, identified their features. The findings of the study allowed us to conclude that the implementation of PPP programs in our country can also become the pillar of innovative development of production and social infrastructures.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85512787","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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