Search

Begin New Search Topic Economy Content Type Journal Article

1. It’s All About the Benjamins: Why Banknotes Look As They Do, and Why You Should Care

Author:
Jacques E.C. Hymans
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
In his classic treatise The Philosophy of Money, sociologist Georg Simmel asserts that money is “colorless” and “abstract,” a “system of numbers” that relentlessly promotes the rationalization and depersonalization of modern life.1 Simmel might be right about money, but banknotes are a different story. The banknotes of the world contain many colorful images of human beings, animals, landscapes, and other eye-catching features. What are the purposes of banknote iconography? What kinds of images best achieve those purposes? Does the art of the banknote still matter in the digital age? The answers to these questions also speak to broader issues, including the bases of social trust, the content of collective identities, and the power of visual politics. Some people think of physical cash as a relic of the old days of brick-and- mortar retail. It is true that credit and debit cards and digital means of payment are on the rise. Even the Monopoly board game no longer comes with its famous colorful paper money; instead, a voice-activated electronic “banker” processes players’ transactions and keeps track of their balances.2 Yet reports of the death of the banknote are highly exaggerated. Between 1990 and 2020 the value of cash in circulation soared worldwide from about $1 trillion to $7 trillion, and the annual rate of increase has been accelerating over time.3 The coronavirus pandemic that erupted in early 2020 caused a further spike in cash demand all over the world.4 A comprehensive study of 140 currencies found that the value of cash in circulation in 137 of those currencies rose in 2020 over the previous year while it declined in only three.5 The value of U.S. currency in circulation shot up by 16 percent during 2020, double the average increase of the previous 10 years.6 As of the end of June 2023, it stood at $2.3 trillion, or to be more precise, $2,342,265,000,000—almost 10 percent of U.S. GDP.7 In short, banknotes remain greatly in demand almost everywhere; and wherever there are banknotes, there is banknote iconography.
Topic:
Economy, Currency, and Iconography
Political Geography:
Global Focus

2. A Wall of Separation Between Money and State: Policy and Philosophy for the Era of Cryptocurrency

Author:
Max Raskin and Richard A. Epstein
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
Throughout history, there have been two fundamental and interrelated debates over the creation and use of money.1 The first debate is whether money should be created by the market or the state.2 When money is created by private markets, individual currencies oper- ate in competition with each other, such that the value of any given currency is measured by its relative strength against the others. In contrast, under a system where the government has a monopoly over the supply of money, the sound- ness of the currency is ensured, if at all, by a set of institutional constraints to prevent its debasement. A second debate arises between those who believe that money should be a tool used by policymakers to achieve certain political, economic, and social ends and those who believe that money should be a neutral unit of measurement, like inches or kilograms.3 Today, central banks are tasked with mandates to achieve full employment, plug budget deficits, and spur real economic growth. The institutional challenge for governments is to decide how to balance these goals with the need for price stability. Discretion by central bankers with respect to these tradeoffs is intended to allow public officials to operate the system for the public benefit. By the same token, government discretion in the management of money creates the possibility of major failures—such as runaway inflation—if that discretion is misused.
Topic:
Finance, Economy, Central Bank, Currency, Cryptocurrencies, and Bitcoin
Political Geography:
Global Focus and United States of America

3. FACTORS IN CONSTRUCTING INDONESIA’S PERSPECTIVES ON THE INDO-PACIFIC

Author:
Mohd. Agoes Aufiya
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
The term “Indo-Pacific” became increasingly significant and was accepted by several countries, including Indonesia. The government welcomed the term as part of its foreign policy projection, which developed its unique perspective or interpretation, including inclusivity, a rule based on international law, and ASEAN’s centrality and cooperation for regional growth. This study would answer the question of how the concept of Indo-Pacific will be interpreted within Indonesia's unique context compared to other countries. Thus, this research aimed to describe several key factors in constructing the Indonesian perspective on the Indo-Pacific concept, particularly under President Jokowi’s leadership. This research applied qualitative with library methods from the primary and secondary data sources. This paper argued six factors that constructed Indonesia’s perspective on Indo-Pacific: maritime historical legacy; the “Bebas-Aktif” principle; ASEAN values; geographical position; and democratic values. The research concluded that Indonesia is one of the major countries that consistently championed the term “Indo-Pacific” within the regional and international spheres, with a “moderate” status in terms of its foreign policy implementation, which is mainly characterized by inclusivity and cooperation in the economy by constructively engaging all countries.
Topic:
Foreign Policy, Military Affairs, Economy, and Regional Politics
Political Geography:
Indonesia, Southeast Asia, and Indo-Pacific

4. EXAMINATION OF DECISION-MAKING STRUCTURES’ PERCEPTIONS OF COMPONENTS ON THE INFLUENCES OF SME SUCCESS

Author:
Muhamet Spahiu and Esat A. Durguti
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
Small and medium-sized enterprises (SMEs) have succeeded in being the main and dynamic pillar of national and international economies. Education and work experience is essential in increasing SMEs’ efficiency and competitiveness. The changing business environment has created fierce competitiveness among SMEs, requiring active interaction between managers/owners and stakeholders. As a result, this study aims to explore the influence of education, experience, using a business plan, and barriers on the success of small and medium-sized businesses. This research employed an online questionnaire for scientific research. Through ordered logistic modeling, we observed 336 answers from businesses using the qualitative approach. The study’s findings reveal that education and work experience have a statistically favorable influence on the performance of SMEs, whereas barriers have a substantial adverse influence. Findings on barriers are noteworthy in the context of this study since the governing institutions throughout the pandemic and later situations experimented with the measures adopted. The study also benefits SMEs and legislation authorities in understanding the critical concerns that are perceived as barriers to the growth and expansion of SMEs, resulting in the creation of even more sophisticated infrastructures to support sustainable development.
Topic:
Development, Education, Economy, Business, and Competition
Political Geography:
Global Focus

5. RETHINKING STRATEGIC AUTONOMY IN TIMES OF NEXT GENERATION EU: NEW DIGITAL AGENDA

Author:
Miguel Angel Solsona and Marcin Roman Czubala Ostapiuk
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
The digital transformation of the global economy and society has accelerated after the Covid-19 pandemic. The European Union (EU), compared to China and the United States, is losing its capacity for innovation and control over data and fundamental raw materials and could even lose ground in the regulatory power it has in the digital realm. This paper pays special attention to the situation and progress toward a new European policy to achieve digital strategic autonomy. It also briefly outlines the Recovery Plan for Europe as a possible incentive for its promotion. Both descriptive and analytical methods were employed to gather the data from secondary sources and provide reliable research results. The major findings of this article are that strategic autonomy is an imperative requirement for sustaining and encouraging European integration, forcing the EU to advance faster toward developing critical digital technologies. There is also an urgent need to secure critical parts of supply chains and data protection, intellectual property, and defense against disinformation. Finally, the European Union must improve its resilience to face new crises and lead the digitalization of its economy.
Topic:
Science and Technology, European Union, Economy, Autonomy, Digital Policy, and Digitalization
Political Geography:
Europe

6. THE IMPACT OF THE RUSSIAN-UKRAINIAN CONFLICT ON ARMENIA'S FOREIGN TRADE: A QUANTITATIVE ANALYSIS

Author:
Diana Galoyan and Diana Matevosyan
Publication Date:
07-2023
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
This article aimed to provide a quantitative assessment of the impact of the Russian-Ukrainian conflict on Armenia’s foreign trade. The research problem was to analyze how the conflict influenced Armenia’s export and import patterns regarding geographical directions and product structure. The objectives were to examine the changes in trade turnover and identify shifts in geographical trade directions and trade structure. The study employed various statistical analysis tools, including dynamic series indicators, structural analysis, time series modeling, trend and moving average approximation, and extrapolation. Through these methods, the study evaluated the effects of the conflict on Armenia’s foreign trade. The key results indicated a positive impact of the conflict on trade turnover, with increased trade activity in various geographical directions. Export diversification was also observed as a result of the conflict. Notably, re-export played a significant role in the unprecedented growth of Armenia’s trade turnover during this period. In conclusion, the findings suggest that the Russian-Ukrainian conflict had a discernible influence on Armenia’s foreign trade, leading to changes in trade patterns and increased trade activity. The study highlights the importance of the re-exports role in analyzing trade dynamics.
Topic:
Economy, Exports, Trade, and Russia-Ukraine War
Political Geography:
Eastern Europe and Armenia

7. The role of natural resources in the territorial conflicts of Xinjiang and Tibet in the People´s Republic of China

Author:
José Antonio Peña-Ramos, Adrián García Peña, and Chiara Olivieri
Publication Date:
05-2023
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
More than 1,437 million people inhabit China. More than 91% are ethnic Han, leaving the rest divided into more than fifty groups officially recognized as minority nationalities. The history of China has seen clashes between some minority groups and the State, even of a secessionist nature. Some of them reach the present day, as in Xinjiang Uyghur Autonomous Region and Tibet. This article examines the weight that natural resources and other geopolitical benefits for the Chinese State can have in both territories. The working hypothesis is that these resources and benefits are essential for China's economic and geopolitical interests.
Topic:
Natural Resources, Economy, Uyghurs, and Energy
Political Geography:
China, Asia, Tibet, and Xinjiang

8. Comparative Analysis of Hedge Funds and Mutual Funds RiskAdjusted Performances

Author:
Engin Avcı and Hind Benmahi
Publication Date:
07-2023
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
Collective investment schemes have been utilizing distinct investment strategies to exploit opportunities offered by the financial markets. Among the alternative collective investment schemes, hedge funds and mutual funds have been attracting great interest. The objective of this study is to compare the risk-adjusted performance of hedge fund strategies with mutual funds strategies. The hedge fund indexes and mutual funds indexes, which are calculated by different database providers are utilized for this purpose. In this study, the indexes from three database providers (Eurekahedge, Credit Suisse, Center for International Securities and Derivatives Markets (CISDM)) are analyzed for the 2008-2021 period using distinct performance measurement metrics as Alpha based on the Capital Asset Pricing Model (CAPM), the Sharpe ratio and Sortino ratio; moreover, the MSCI World index has been taken as a benchmark. The findings demonstrated that the majority of hedge fund indices performed better than the benchmark MSCI World and provide better risk-adjusted performance than mutual funds.
Topic:
Economy, Mutual Funds, Investment, and Hedge Funds
Political Geography:
Global Focus

9. Book Review: Javier Blas and Jack Farchy, The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources (Oxford University Press, 2021)

Author:
Hüseyin Pusat Kildiş
Publication Date:
12-2023
Content Type:
Journal Article
Journal:
Uluslararasi Iliskiler
Institution:
International Relations Council of Turkey (UİK-IRCT)
Abstract:
The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources sheds light on commodity traders, crucial yet often overlooked actors in the global economy. The book is a collection of stories about them, how they get involved in political affairs, where they get their power, and how they work in the shadows. These stories from different times and places show the immense power of commodity traders. Methodologically, the book is mainly based on interviews with more than a hundred traders. Blas and Farchy also collected thousands of pages that detail the finances, business networks, and structure of commodity traders’ organizations (p. 11-12). The book consists of 13 chapters. Chapters 2, 3, and 4 are particularly important since they reveal how commodity traders operate by addressing the energy crisis that arose due to waves of nationalization in the Middle East in the 1970s and 1980s. The book’s main purpose is to reveal the role of despots and tyrants in the global economy by pointing out the unsavory aspects of their businesses, such as bribery and offshore banking. Since most of these methods are illegal and cannot be used by official companies and institutions, such commodity traders come to the fore.
Topic:
History, Economy, Book Review, Commodities, and Trade
Political Geography:
Middle East and Global Focus

10. Türkiye’s First 100 Years

Author:
W. Robert Pearson
Publication Date:
11-2023
Content Type:
Journal Article
Journal:
American Diplomacy
Institution:
American Diplomacy
Abstract:
Modern Türkiye (the official spelling of Turkey since 2021) sprang like a phoenix from the ashes in 1923, overcoming daunting odds. Its predecessor, the Ottoman Empire, had foolishly joined the war with the Central Powers in 1914 and naively thought its Arab subjects would remain loyal, only to have been utterly defeated and then dismembered. A rebellion led by the empire’s most famous war hero and leader, Kemal Ataturk, overthrew the last sultan, rejected an unjust treaty to divide up the country and repelled the occupying Allies. He established a contemporary republic based on popular will and modern law to begin a new history for the Turkish people. Born from the wreckage of war and national chaos, Türkiye now, one hundred years on, has become a formidable player on the global stage. World War One witnessed four empires – the German, Austro-Hungarian, Russian, and Ottoman – disappear from history. Of the four, the Turks were the most severely treated by the European victors. Little of Germany and none of the Austro-Hungarian states were occupied. Türkiye was. The country also was originally forecast to become a League of Nations mandate, losing its sovereignty, a punishment not assessed against any other Central Power. Türkiye’s victory at the negotiating table in the early 1920’s over the European Allied Powers and on the battlefield principally against the Greeks, who were encouraged by the British to invade Türkiye to recover territories, was a singular achievement. The final agreement – the Treaty of Lausanne – gave Türkiye its complete independence on October 29, 1923, with Mustafa Kemal as its first president. It was the only such treaty negotiated by a WWI Central Power state with the Allies.
Topic:
Foreign Policy, Religion, History, Democracy, Economy, Kurds, Ottoman Empire, and Regional Power
Political Geography:
Turkey and Middle East

11. Role Conceptions and Leadership Rivalry in the Middle East: Transforming Turkey, Saudi Arabia, and Gulf Relations

Author:
Muhammed Yakup İnan
Publication Date:
06-2023
Content Type:
Journal Article
Journal:
Turkish Journal of Middle Eastern Studies
Institution:
Sakarya University (SAU)
Abstract:
In recent years, the Middle East has often been the subject of foreign interventions and the interests of superpowers. The effect of internal dynamics was pushed to the background in regional developments as a result of this situation. It is very important, however, to analyze the Middle East by understanding the power struggles between the regional powers Turkey, Saudi Arabia, Egypt, and Iran. This article examines the leadership struggle and role conceptualizations between the regional powers of the Middle East with a focus on the relations between Turkey and Saudi Arabia. It argues that Turkey is not a rival to Saudi Arabia's national role conceptions in the Gulf region, but rather a favorable partner when it comes to Gulf security and economic relations. Relations between Turkey and Saudi Arabia will follow a positive course with mutual normalization steps and Turkey's export-led growth and regional cooperation strategies.
Topic:
International Relations, Security, Foreign Policy, Leadership, Economy, Regional Power, and Role Conceptions
Political Geography:
Turkey, Middle East, and Gulf Nations

12. China and Nicaragua’s Deepening Embrace

Author:
Scott B. MacDonald
Publication Date:
11-2023
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
In October 2023, Nicaragua signed an agreement with China’s CAMC Engineering Company (中工国际工程) for the reconstruction, expansion, and upgrading of the Punta Huete International Airport (Yicai, October 18). The company is a subsidiary of the conglomerate China National Machinery Industry Corporation (国际集团), also known as Sinomach (Sinomach, accessed November 15). Local and Chinese officials are touting the $492 million project as part of China’s Bridge and Road Initiative (BRI), reflecting a deepening of Daniel Ortega’s regime’s ties to the People’s Republic of China (PRC) (Global Times, October 18). Closer links between Beijing and Managua demonstrate that China’s economic statecraft remains central to its strategy to further penetrate Latin America and the Caribbean, a region of significant geopolitical importance to the United States. The sustainability of China’s economic statecraft, and BRI in particular, have come into question in recent months due to the country’s domestic economic problems. However, the Nicaraguan airport announcement signals that the PRC remains economically active in the region, and its ambitions have not wavered. This is something of which the remaining handful of countries that officially recognize Taiwan are well aware: Beijing’s attention to regional infrastructure continues, if more selectively than before, but only to those countries who have decided to forgo relations with Taiwan. Beijing is further extending its reach into the strategic underbelly of the United States. For Nicaragua, the restoration of diplomatic ties with China serves the geopolitical needs of President Daniel Ortega in distancing his regime from the United States and softening the blow of sanctions (imposed due to fraudulent elections and gross human rights violations), while providing a source of non-Western funds to finance infrastructure projects.
Topic:
Foreign Policy, Bilateral Relations, Infrastructure, and Economy
Political Geography:
China, Asia, Central America, and Nicaragua

13. Hong Kong: The Keystone in China’s Economic Statecraft

Author:
Sunny Cheung
Publication Date:
10-2023
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
The recent decision by Hong Kong to join China in banning Japanese seafood took many observers by surprise (Reuters, August 23). At first glance, the ban seemed an overblown reaction to Japan’s handling of nuclear wastewater, which many international bodies have deemed safe and compliant with established procedures. And while it is commonly understood that Hong Kong’s government is politically influenced by the Chinese Communist Party (CCP), many still believe in its economic autonomy. Considering the significant economic reliance of Japan on Hong Kong for its seafood trade, among other sectors, the ban startled numerous stakeholders (Nikkei Asia, August 25). However, the move is less shocking when Hong Kong is viewed as an integral cog in China’s economic statecraft machine. Traditionally, Western governments lack strategic foresight regarding Hong Kong’s long-term position. Often, this oversight stems from an inadequate comprehension of Hong Kong’s pivotal financial role relative to China, as well as an underestimation of its potential as a node for strategic leverage, both for and against China. China’s rise as a global superpower is inextricably linked to its adept use of economic statecraft, a fusion of economic might and strategic prowess. Its pressure on South Korea to stop the production of Taiwanese military submarines provides a recent example (Reuters, October 16). Hong Kong is a pulsating metropolis at the heart of this strategy. It not only exemplifies China’s ambitions but also acts as a crucial conduit for realizing them. There are two key strands of Hong Kong’s centrality to Beijing: its function as an economic lifeline to the global financial system and its role in the clandestine acquisition of technology and intellectual assets for China from overseas. The US and its allies must focus more on Beijing’s overt and covert leveraging of Hong Kong and think harder about what the city’s function should be in an era of de-risking, geoeconomic competition, and weaponized interdependence.
Topic:
Economy, Chinese Communist Party (CCP), Statecraft, Regional Politics, and Superpower
Political Geography:
China, Asia, and Hong Kong

14. Ten Years On, How is the Belt and Road Initiative Faring in Indonesia?

Author:
William Yuen Yee
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
“It is not merely talk, but it is about actually building something. From airports to railways, these are industries we can see and touch. This is exactly the sort of courage and real action the world needs right now.” So said Indonesian President Joko “Jokowi” Widodo about China’s Belt and Road Initiative (BRI) at the inaugural Belt and Road Forum for International Cooperation (BRF) in 2017 (BRF, May 14, 2017; Jakarta Globe, May 16, 2017). This year marks the tenth anniversary of this ambitious, globe-spanning infrastructure development project. Today, 151 countries and 32 international organizations have joined the initiative, which Foreign Minister Qin Gang recently described as a “global enterprise to build a belt of prosperity and a road to happiness” (Ministry of Foreign Affairs of the People’s Republic of China [PRC], January 20). A decade ago, Chinese President Xi Jinping launched the BRI with a series of speeches in Kazakhstan and Indonesia calling for a “Silk Road Economic Belt” and a “Maritime Silk Road,” respectively (Consulate General of the PRC in Toronto, September 7, 2013; China Daily, October 4, 2013). The following year, China announced the creation of a $40 billion Silk Road fund at the Asia-Pacific Economic Cooperation (APEC) summit in Beijing and a $20 billion Maritime Silk Road fund in Indonesia (China Daily, November 9, 2014). From the BRI’s inception, it has been clear that Southeast Asia and its largest economy— Indonesia—are intended to serve as a centerpiece of the megaproject (Global Times, November 16, 2022). Roughly two-thirds of all people of ethnic Chinese ancestry outside of China are in Southeast Asia. [1] The 142-kilometer (88 mile) Jakarta-Bandung high-speed railway (HSR) is one of the BRI’s flagship projects (China Brief, December 22, 2022). Indonesia also hosts nearly half of the eight overseas industrial parks that China has established across the Association of Southeast Asian Nations (ASEAN) member states: the China-Indonesia Economic and Trade Cooperation Zone, the China-Indonesia Morowali Industrial Park, and the China-Indonesia JuLong Agricultural Industry Cooperation Zone (China Development Institute, June 26, 2019). While Beijing has pulled back its overseas BRI lending—and Xi has exhibited some notable reticence toward hosting a third Belt and Road Forum—Indonesia challenges the broader narrative that the BRI is somehow fading away (Green Finance & Development Center, July 24, 2022). In the world’s fourth-most populous country, Chinese investment has continued apace, and both governments continue to champion the BRI’s ability to deliver “mutual benefit” and “win-win results.” Still, understanding Indonesia’s experience with the BRI requires closer examination of the history behind China-Indonesia infrastructure cooperation, major projects beyond the oft-discussed Jakarta-Bandung HSR and their impacts on the Indonesian public, and the extent of economic engagement between Jakarta and Beijing.
Topic:
Development, Infrastructure, Economy, and Belt and Road Initiative (BRI)
Political Geography:
China, Indonesia, Asia, and Southeast Asia

15. Managing the financial impact of cybersecurity incidents

Author:
Zsolt Bederna and Tamás Szádeczky
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Security and Defence Quarterly
Institution:
War Studies University
Abstract:
The complex relationships of economic actors and the high dependency on information and communication technologies make it necessary for all relevant entities to develop protection. This protection should include preventive and reactive controls in a risk-proportionate manner in relation to the business value protected. We aimed to develop a solution to support cybersecurity-related business decisions with financial analytics. The risk-based approach helps management find the optimum solution with minimal costs, where protection prevents some incidents from occurring, while the risks associated with other incidents are accepted in an informed way. The security industry developed a number of apparatuses to find the optimum security controls that enforced the fiscal aspects, which typically contain solutions used in planning. However, the actual expenditure often differs from the planned budget for several reasons, one of which is the occurrence of security incidents. We used the common methodology toolset for financial analysis (NPV, NFV, risk assessment). We developed novel metrics based on these that can be used in cybersecurity management. Within the framework thus defined, the article discusses the economic context of the effects of incidents involving Meta (previously Facebook) services from 2016 to 2020. This paper introduces the ‘Effect of incidents’ metric to measure the impact of unplanned incidents’ on actual expenditure compared to the planned budget and the ‘Incidence of incident recognition’ metric to measure deviations of an incident’s impact as perceived by owners relative to the effect on the value of the assets. The paper also proves the applicability of those metrics using the example of Meta.
Topic:
Science and Technology, Cybersecurity, Finance, and Economy
Political Geography:
Global Focus

16. Free Trade Agreement (FTA) through economic diplomacy strategy. Study of Indonesia-Japan Economic Partnership Agreement

Author:
Shanti Darmastuti, Arry Bainus, Widya Setiabudi, and Dudy Heryadi
Publication Date:
01-2022
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
Free trade is considered to make a positive contribution to both domestic and international economy because of the removal of trade barriers. The importance of free trade can be seen from the increasing free trade agreements between developed and developing countries. The involvement of developing countries in free trade agreements enables them to make efficiency and maximize the benefits of implementing free trade agreements. Developing countries however often do not get results that are as expected in the Free Trade Agreement (FTA). For example, Indonesia has not yet obtained the outcomes that were expected in the implementation of the Indonesia-Japan Economic Partnership Agreement (IJEPA). The results highlight that one fundamental factor for obtaining optimal benefits from a trade agreement is internal coordination prior to the negotiation process.
Topic:
Diplomacy, Treaties and Agreements, Partnerships, Economy, Policy Implementation, and Free Trade
Political Geography:
Japan, Indonesia, and Asia

17. Rusia en África. Nuevas dinámicas desde el Kremlin

Author:
Sebastián Ruiz-Cabrera
Publication Date:
10-2022
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
Hace menos de una década, el continente africano era prácticamente la última prioridad de la política exterior de Rusia. Atrás quedaron las décadas doradas en las que el peso de la URSS se hacía notar en niveles como la ideología, las infraestructuras, la economía, la política o el sector educativo. Ahora bien, ante el creciente aislamiento internacional, Rusia vuelve a apostar por el apoyo del continente mientras Occidente mira con preocupación tales esfuerzos. En 2019 tuvo lugar en Sochi (Rusia) el primer foro económico entre la potencia dirigida por Putin y África, un foro en el que se definieron las líneas maestras en política exterior del Kremlin. Era un claro anuncio: Rusia estaba de vuelta en el continente africano después de una larga ausencia, en concreto desde la disolución de la Unión Soviética en 1991. El artículo analiza si su presencia en África es una presencia tan alarmista como se presenta por la Unión Europea o la Casa Blanca.
Topic:
Foreign Policy, History, Infrastructure, Neoimperialism, and Economy
Political Geography:
Africa, Russia, and Soviet Union

18. A Critical Analysis of Degrowth Debates Through the Lens of Gross National Happiness (GNH): Refraining from the Conventional View of Plurality*

Author:
Katsu Masaki
Publication Date:
03-2022
Content Type:
Journal Article
Journal:
Journal of Bhutan Studies
Institution:
Centre for Bhutan & GNH Studies (CBS)
Abstract:
This study problematises degrowth’s goal of abandoning economic growth as a policy objective on the grounds that its advocates base their arguments on a binary growth/no-growth dichotomy and unwittingly activate the same economistic frame as the growth paradigm. To explore a remedy against this pitfall arising from the conventional view of plurality that segregates study materials into distinctive categories and prioritises one of them, Bhutan’s policy of Gross National Happiness (GNH) is taken up. The policy does not lapse into the growth/degrowth trap, refrains from rejecting economic growth of all kinds, and instead ascertains its potentially diverse connotations. GNH accordingly weighs growth-related indicators on equal terms with various others concerning social, cultural, spiritual and emotional contentment. The holistic approach of GNH helps rectify the prevailing hegemony of economic growth and thus provides a more effective pathway for attaining a postgrowth order.
Topic:
Economy, Economic Growth, Degrowth, and Gross National Happiness (GNH)
Political Geography:
South Asia and Bhutan

19. Covid Döneminde Finansal Varlıklar Arasındaki Nedensellik Farklılaşması (Causality Differentiation Between Financial Assets During COVID Era)

Author:
Üyesi Hidayet Güneş
Publication Date:
07-2022
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
Covid pandemisi her alanda olduğu gibi ekonomik düzende de eski düzenden farklılıkları içerisinde barındırmaktadır. Bundan dolayı yatırımcılar, finansal varlık seçiminde daha dikkatli ve seçici davranmak durumundadırlar. Yeni koşullara uyum sağlayan yatırımcıların getirilerini artırabilme uyum sağlayamayanların ise zorluklarla karşılaşabileceği bir dönem içerisinde bulunulmaktadır. Bu yüzden çalışma, Türkiye’deki çeşitli finansal varlıklar arasındaki nedensellik ilişkisinin Covid döneminde farklılaşıp farklılaşmadığını belirleyebilmek için yapılmıştır. 29 Ocak 2018-10 Mart 2020 tarihleri arası Covid öncesi, 11 Mart 2020-22 Nisan 2022 tarihleri arası Covid dönemi olarak belirlenmiştir. Değişkenler arasındaki nedensellik ilişkisi Toda-Yamamoto testi ile araştırılmıştır. Covid öncesi dönemde gösterge faiz oranının diğer tüm değişkenlerin nedeni olarak belirlenirken Covid döneminde bu durumun ortadan kalktığı tespit edilmiştir. Covid döneminde CDS primi ve Euro/TL kuru değişkenlerinin gösterge faiz oranının nedeni olduğu sonucuna ulaşılmıştır. Ayrıca Covid döneminde döviz kurlarının çift yönlü nedensellik ilişkisi içerisine girdikleri belirlenmiştir. Son olarak Dolar/TL kurundan CDS primine doğru tek yönlü nedensellik ilişkisinin hem Covid öncesi hem de Covid dönemlerinde aynı kaldığı tespit edilmiştir. Türkiye’deki finansal piyasa ve varlıklar arasındaki nedensellik ilişkisi üzerinde Covid pandemisinin etkisinin olduğu sonucu ortaya çıkmaktadır. Bundan dolayı piyasa oyuncularının fonlarını yönetirken, ortaya çıkan yeni durumları göz önünde bulundurarak yatırımlarını gerçekleştirmeleri kendi fon getirileri açısından önem arz etmektedir.
Topic:
Economy, Currency, COVID-19, and Financial Assets
Political Geography:
Turkey and Global Focus

20. Türkiye’de Bölgelerarası Sosyo-Ekonomik Gelişmişlik Farklarının Azaltılmasına Yönelik Politikalar: Güneydoğu Anadolu Projesinin (GAP) İncelenmesi (Policies for Reducing Inter-Regional Disparities of Socio-Economic Development in Turkey: An Investigation of the Southeastern Anatolia Project (GAP))

Author:
M. Kemal Aydın and Alptegin Albayraktaroğlu
Publication Date:
12-2022
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
Bir ülkedeki gelişmişlik düzeyinin ülke genelinde dengeli bir şekilde dağılması ve bölgeler arası farkın az olması önemlidir. Bunu gerçekleştirmek amacıyla hazırlanan bölgesel kalkınma planlarında, ülkeler bölgelere, bölgeler türlere ayrılmıştır. Bu bağlamda homojen, polarize ve plan bölge şeklinde üç farklı bölge türü vardır. Bölgesel kalkınma, bölgeler arası dengesizliklerin giderilmesi ve bölgede bulunan iktisadi ve toplumsal potansiyellerin faaliyete geçirilmesiyle refah düzeyinin yükseltilmesini ifade etmektedir. Türkiye’de özellikle 1950’li yıllardan itibaren bölgesel politikalar önem kazanmış ve ülkenin kalkınması için çok önemli bir politika olarak görülmüştür. Bu kapsamda ülkedeki bölgeler için birçok proje hayata geçirilmiştir. Güneydoğu Anadolu Bölgesi’nin sahip olduğu kaynaklardan faydalanılması fikriyle, bütünleşik ve çok sektörlü bir kalkınma projesi olarak Güneydoğu Anadolu Projesi (GAP), 6 Kasım 1989’da Resmî Gazete’de yayımlanan Kanun Hükmünde Kararname (KHK) ile başlatılmıştır. Bu proje 9 ili kapsamaktadır ve Cumhuriyet tarihinin en etkin şekilde uygulanan projesidir. Proje kapsamında master plan, bölge kalkınma planı, eylem planları ve kalkınma programları uygulanmaktadır. Günümüzde GAP bölgesindeki illerde başta tarım, enerji ve sanayi olmak üzere birçok sektör için iyileştirme süreçleri devam etmektedir. Bu çalışmada 2000’li yıllardan itibaren GAP kapsamındaki gelişmeler resmi veriler üzerinden incelenmiştir. Ardından seçilen sektörlerdeki gelişmeler ele alınmıştır.
Topic:
Development, Inequality, Economy, Domestic Policy, and Socioeconomics
Political Geography:
Turkey, Middle East, and Mediterranean