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At the turn of the 1990s, a very large part of UK energy utilities was transferred from the public sector into private ownership. When analysing the era of privatisation, recent research on public policy has concluded that public authorities’ ability to influence or shape national energy choices has been substantially weakened. Since the mid-2000s, however, tight cooperation between private investors and UK public regulators and policy-makers has emerged as a critical factor to meet the challenges posed by the energy transition. How have the British public authorities tried to get private actors on board and to involve them not only in the delivery and funding of energy services, as has been the case with public-private partnerships, but also in the decision-making process? This article identifies various schemes spearheaded by the UK government to breed or revive innovation in the privately-owned renewable and nuclear energy industries. This analysis explores the various strategies used to facilitate ‘decompartmentalising’ initiatives and ensure a smooth transition towards a neo-corporatist revival of the Triple Helix involving industry, academia, and government. It shows how these hybrid processes offer valuable insight for analysing and reconceptualising the boundary between the public and the private sectors. Based on this case study, this analysis ultimately demonstrates how the public/private dichotomy should be reassessed using the concepts of hybrid roles and responsibilities.
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This article sets out a theoretical framework for the political economy of the private rental sector, with a particular focus on the question of inequality. It brings together three existing bodies of research. First, macro-accounts of social stratification and wealth inequality. Second, Marxian critiques of the antagonism between accumulation and social reproduction. Third, qualitative accounts of tenants’ experiences of housing inequality. The article synthesizes these three literatures to put forward a political economy approach which can capture the multi-dimensional and multi-scale nature of both ‘housing’ and ‘home’ in the private rental sector. In so doing, it contributes to recent research on ‘generation rent’, in particular the related class and generational inequalities, as well as wider debates on the political economy of housing.
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At the present stage of development of economic systems, a multitude of countries around the world are focused on implementing such a regulatory policy of the state that would enable sustainable development and formation of a socially oriented type of market economy, where the main goal is to ensure the welfare and high living standards of the population. Thus, the purpose of the research in this article is to identify the determinants of socially oriented state policy for the development of economic relations, respectively, the subject is to determine the strategic priorities of such policy. To achieve this purpose, the article employs general theoretical and special legal methods of research, in particular, the dialectical method of scientific cognition allowed to trace the current trends in the development of national policy, the comparative legal method allowed to perform a comparative analysis of strategic priorities of national policy in foreign countries, which reached a significant level of socio-economic development, analytical method applied in formulating generalized and elaborate conclusions based on the research findings. Based on the results of the study, the author came to the conclusion that the modern socially oriented state regulatory policy is based on the current form of state government, which determines the political regime of the country and the legislative basis for regulating the economic relations of economic entities, which operate in accordance with the formed institutional environment in the country.
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This article considers the issues of the balanced management of innovative industrial risks as a mechanism for achieving sustainable development of entities. The place of this complex of management actions has been determined in the general strategic management system when introducing innovations in the context of disturbances and risks. The role of innovative industrial risks, as restrictions of innovative development, has been defined, and the main challenges of implementing balanced management principles when introducing innovations in the face of uncertainty have been analyzed. For research, the petrochemical complex of the Republic of Tatarstan has been selected, the features of its innovative development have been studied, and the main trends and approaches to managing innovative industrial risks at achieving sustainable development in present-day conditions have been identified.
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The development of the economy in Kazakhstan is associated with the production level and economic growth in the agricultural sector. This attracts the attention of countries willing to invest in the agro-industrial sector of the republic. At the same time, it should be understood that much depends on the conditions that have been developed in the production and export of agricultural products and provisions. The development of the agrarian economy of the republic is greatly influenced by the development of this sphere in the nearest partner countries in political, economic and trade relations, such as Russia, Belarus and China. Within the initiative to revive the Silk Road, the Celestial Empire has a significant impact on the development prospects of Kazakhstan, including agrarian economy as well.
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At the present stage, to ensure economic security at different levels (both national and regional), for economic growth and sustainable development, one of the important factors is integration processes. At present, integration unions, which include several member states, are acting quite effectively. One of such unions is the Eurasian Economic Union (EAEU), in comparison other integration unions such as the EU (European Union), the European Free Trade Association (EFTA) and some other, EAEU is quite young. However, this union of countries can be called one of the dynamically developing, and nevertheless, in the interaction within the union, a certain imbalance between the member states can be noted, which can be called a serious internal challenge for the EAEU. It is worth noting the economic context of the imbalances in the Union: there is no correlation in macroeconomic indicators (for the majority) between the countries – members of the Union. One of the leading participants in the Eurasian Economic Union, as well as one of the founders is Kazakhstan. It was with at the behest of Kazakhstan that the implementation of this union began. But, after 5.5 years of the functioning of this integration association, the effectiveness of this association gives rise to certain disputes, especially the effectiveness of the union, which calls into question the advisability of Kazakhstan in the composition of this union. The purpose of the article is to analyze the problems of economic integration of Kazakhstan in the Eurasian Economic Union and the possibility of solving them. In the framework of the study of the problem, a scientific approach was used using general scientific methods that were also special, in particular, systematization, theoretical generalization and the method of comparison with the use of statistical analysis. The study defines the concept of integration, reveals the understanding of economic integration from the perspective of different economic schools, using various approaches to understanding this category, defines forms of economic integration and factors defining the integration process, gives a brief disclosure of the essence of the Eurasian Economic Union. The participation of Kazakhstan in the EAEU relative to other participating countries is considered and the main problems are identified, some prospects for Kazakhstan’s participation in the EAEU are considered. The prospects for further research are due to further study of the EAEU problems with respect to the participating countries, for their subsequent study and search for solutions. The instrumental value of the material lies in the possibility of studying problematic issues for further sustainable and effective interaction.
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OECD fiscal report presented to G20 group finance ministers and central bank governors.
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Uncertain recovery of the global economy, geopolitical risks, future prices of oil and raw materials, volatile capital movements and low-interest rates determine current monetary policy to a large extent. Accommodative monetary policies and exit from such policies are the main challenges for monetary authorities. Although accommodative policies and low-interest rates following the outbreak of the crisis affected credit growth and capital inflow, their long-term application affects banks’ profitability and the emergence of new risks and hinders the return to conventional measures. However, the unconventional monetary policy is expected to continue and the exit from quantitative easing will be gradual, consistent with achieving the inflation target and sustainable economic growth. In such circumstances the support from fiscal policy and structural reforms is crucial.
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The purpose of this article is to evaluate the subjective impact of provided care on the quality of life of informal carers, to assess the institution of long-term carer’s allowances from the viewpoint of informal carers, and to identify additional social policy tools that could, in carers’ opinion, improve the provision of care. Our research shows that provision of care leads to a reduced quality of life for a significant number of respondents. It is confirmed that respondents’ welfare is negatively influenced by a lack of funding and weak development of social services. It is not proven that the long-term carer’s allowance is a comprehensible benefit increasing the carers’ quality of life providing enough motivation to care. This sickness insurance benefit is intended primarily for a temporary lack of self-sufficiency, with the prospect of future improvement. Long-term or permanent lack of self-sufficiency and the related care must be secured by social support and assistance mechanisms, including respite care, and ought to be funded outside the framework of sickness insurance.
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This paper is about the cradle to cradle (C2C) concept that is correlated with circular economy (CE). The C2C notion means; products should be without producing any waste. It is considered as a biometric procedure to design the products and materials in healthy ways. The C2C model is sustainable for present and future generations. In the past few years, C2C concept has grown wide interest among the nations of the world and the demand for environment friendly products has been increasing day by day globally. During the 20th and 21st centuries environment friendly and C2C certified products are increasing around the world. The C2C notion is based on the idea of non-waste production systems that do not harm the environment. Within the C2C framework, two distinct metabolisms: the biological metabolism and the technical metabolism are identified. In the study the development of C2C approach around the world is discussed. As the global natural resources are decreasing; C2C becomes new efficient strategy in production arena. Sustainable products, healthy materials, responsible consumption, and environmental responsibility are essential issues for the 21st century. The objective of C2C is the production without waste and elimination of the harmfulness from the products. C2C inspires that all products to be manufactured with alternative materials. This article tries for the successful implementation of C2C in the society.
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Defence expenditures are essential components of the countries’ financial strategies to ensure national security. Structural differences, geopolitical positions, and political reasons impact defence expenditures. However, since these variables have a different impact on each country’s economy, a consensus cannot be reached on the relationship between defence expenditures and economic growth. Therefore, assessing the effect of defence expenditures on economic growth can provide various insights for each country. In this article, the relationship between the defence expenditures and the economic growth of China and Turkey, the two countries displaying the most significant increase in defence expenditures in the world between 2000 and 2020, was studied comparatively by trend analysis and graphics. The analysis results show that China and Turkey are different from each other. While China has stable economic growth and defence expenditures, Turkey has a more volatile structure. Therefore, while there is a correlation between defence expenditures and economic growth in China, it is concluded that this is not the case for Turkey. The findings are of a quality that will increase awareness among policymakers and practitioners.
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International accounting standards are underpinned by a normative approach of accounting, in the sense that these are based on conceptual accounting framework assimilated by a theoretical framework. The conceptual framework’s development is based on a priori theory, initiated by Chambers, in his article published in 1955, where he defends the need for a theory of practical accounting an a detachment from descriptive theories of an inductive approach. Developing the accounting standards on such theories is the result of deductive logic, while national regulations are based on an inductive approach. Furthermore, the wording of the national regulations concerning consolidated or social accounts is not explicitly dedicated to the privileged users of financial and accounting information. The clear position of the IAS/IFRS conceptual framework, directed to investor, places the international accounting model to the basis of agency theory.
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The paper reviews the challenges of using evidence-based policy-making in climate change mitigation. It is specifically concerned with the study of the interaction between the scientific field and the conception and implementation of climate change policies. This interaction is very important in determining the best ways to deal with this phenomenon with adverse implications for society.
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While beginning from the viewpoint that the construction of a contemporary socialist society in Yugoslavia is effected on the ground of various forms of ownership, and that all forms of ownership are treated equally within the economic system, the author states the arguments for transformation of social ownership and also submits specific solutions. He is against compulsory privatization of social property and total departure from self-management of workers, as a form of industrial democracy. The transformation of social ownership should be effected gradually through the process of „introducing" secondary owners of social property, while leaving to society as an entirety the function of primary owner. Specific organisational solutions proposed are based on particular role of managing boards, which should effect the function of secondary owners. The members of managing boards would acquire management shares (namely the ones entitling them to manage), which would provide necessary material stimulus. These members would be subject to removing from office - depending on the success of the enterprise. Workers would keep some self-management rights, while the enterprise should have to be transformed into a joint-stock company, whose shares would be evaluated either in the market or within the company.
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Social ownership has always meant an a priori and untouchable foundation of Yugoslav socialist society, which limited social sciences and first of all sociology and economy in their attempts to determine its essence, elements and scope. This is why for quite a long time there were discussions between two directions in the theory of social ownership: institutional-systemic (which opts for the lack of market economy and of property nature of social ownership), and the critical-theoretical conception, whose main protagonist is Ivan Maksimović. The author elaborate basic elements of that second conception, while emphasizing the contribution of Ivan Maksimović. Particular attention is dedicated to the role of distribution according to the work invested, as a constitutive element of social ownership. Although insufficient development of Yugoslav practice caused the disappearance of social ownership from the historical scene, the author submits arguments for the conclusion according to which the critical theory of social ownership has been a significant achievement for the treasury of models, options and strategies of (potentially) efficient and human socio-economic systems.
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Canada and USA are developed nations and both are closely placed geographically. These nations have proposed and implemented policy responses to COVID-19 pandemic and yet they have acted differently. The importance of human face is ensured in both countries but with a difference. One of the reasons for the difference may be due to the nature of economy and economic policies of them. The economy of Canada relies mostly on immigrant population unlike USA. Political compulsions are also different. This study investigates on the paradigm shifts of policy responses of them on COVID -19 pandemics.
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The area of macro - economy has specificities and its own laws, and these were recognized by the economic science only after the great economic crisis in 1929. Socialism, however, taking place prior to that moment, has developed the macro - economic functions by raising the problems of individual reproduction (although enriched by a multitude of new methods) to the level of the social. Thus the economic policy has become „social technology ", since it was burdened by direct engagement in the sphere of material - production goals. The consequences were fatal not only regarding the independence of enterprises and commodity production, but also for the economic science itself, since it had to reconstruct, in accordance with the needs of the corresponding distribution of social power, other social sub - systems, too, including social values. The structure of the enormous social change facing the former socialist societies is rather complex: one essential dimension in this respect is also the change of the conception concerning the highest social goal, the means to achieve it, and the protagonists of the corresponding process. The author considers these questions within the framework of economic science, while pointing at the need to define, in a situation of a developed market structure, and in a new way, not only the goals, but also the border - lines between individual branches of that science. Particular attention is dedicated to the need of a more adequate designation of the macro - economic protagonist, certain socialisation of the protagonist of the economic policy, as well as to a more adequate distribution of social capacities of decision - making - as compared to the so - called socialist commocity production. All forms of statist organisation of economy deform the social macro - economic function in the same way, regardless of theri ideological conception.
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Purpose: This paper is an empirical analysis of Nigeria's determinants of the ceding decision of life insurance companies. It is birthed from the notion that reinsurance, though highly beneficial to the insurance industry, is rarely undertaken by life insurers. Thus, this study aims at expounding on the determinants of reinsurance decisions of life insurance companies in Nigeria and the relationship of each determinant with ceded reinsurance. Methodology: An ex-post facto research design was adopted, and a sample size of seven (7) core life insurance companies in Nigeria was selected using the purposive sampling technique. Data were sourced from the Nigerian Insurers Digest and the websites of the select insurance companies covering the years 2011 to 2019. Descriptive analysis and unit root tests were conducted on the data to justify its suitability. Data were further analyzed using the panel data regression, and a decision was arrived at using the Hausman and redundant fixed effect tests. Results/Findings: The analysis showed a significant relationship between leverage and ceded reinsurance, firm size and ceded reinsurance, as well as return on assets and ceded reinsurance, while underwriting risk and reinsurance price had insignificant relationships with ceded reinsurance. All the explanatory variables also had positive relationships with the ratio of ceded reinsurance. Thus, it was concluded that leverage, firm size and return on assets are major determinants of the ceding decision of these companies, while underwriting risk and reinsurance price are not. Originality and Practical Implications: This study is an original work of the authors. It practically shows the relationship between the factors considered by life insurers in deciding to cede their risks and ceded reinsurance. With previous studies on reinsurance and its benefit to the insurance industry, this study brings factors that impede the life insurer from deriving these benefits. Therefore, it was recommended that to encourage life insurers to cede more risks, policymakers and regulators should align specific regulations on leverage, firm size and return on assets of life insurers in Nigeria.
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Objective: To assess the impact of two factors – legal regulations and cognitive errors among decision-makers – on the choice of simplifications in the accounting policy of micro and small entities. Research Design & Methods: Content analysis of disclosed accounting policy among micro and small entities in Poland was done in order to uncover simplifications the entities made in their accounting policy. Sampling was done using the Orbis Europe database; the sample size was 100 units. Findings: Only half of the eligible companies prepare abridged financial statements. Moreover, entities apply simplifications to which they are not entitled: restrictions on the application of the prudence principle and unconditional application of tax depreciation rates to the measurement of fixed assets are not allowed for the companies surveyed. Implications/Recommendations: This research shows that those responsible for accounting policy, when deciding on the scope of the simplifications, employ cognitive biases – including status quo bias, primacy effect and confirmation bias – resulting from heuristic thinking. Contribution: The contribution’s originality is based on the results of an empirical study of simplifications in the accounting policies of micro and small entities and the explanation of these results through the lens of decision-makers’ cognitive errors. Conclusions drawn from the research can be used both by legislators in reviewing legal regulations, and by managers charged with shaping accounting policy and applying simplifications. Article type: original article.
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