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Implementation of Financial Services Authority Regulation №35/POJK.05/2015 Article 35 by Indonesian Venture Capital Companies in 2015
Full text linkPOJK or the Financial Services Authority Regulation is one of the official documents of the Indonesian government related to the state finance sector. Venture capital itself is one of the contributors to the economy of Indonesia, especially in terms of financing or equity participation. Therefore, regulations are needed to control the operation of venture capital businesses to avoid damages caused by problems/disruptions. Generally, the economic sector in Indonesia is highly regulated, and venture capital is not an exception. However, this paper only focuses on the analysis of the actual implementation of one of the venture capital regulations in Indonesia, namely POJK No. 35/POJK.05/2015 concerning equity participation in Venture Capital Companies (VCC), particularly, Article 35 which states that VCC must have a ratio of Equity to Paid-in Capital not less than 30%. For this research, the method of qualitative normative approach has been applied based on the secondary data concerning Business Operations of Venture Capital Companies. The results of this research show fulfillment of these implemented regulations in practice by the existing VCC and its potential.
Cite this paper:
Al Amin, Eka Mulia Nurul; Hanifuddin, Iza (2021). "Implementation of Financial Services Authority Regulation №35/POJK.05/2015 Article 35 by Indonesian Venture Capital Companies in 2015" Journal of World Economy: Transformations & Transitions (JOWETT) 1(02):08. DOI: https://doi.org/10.52459/jowett1281121
China in the Shanghai Cooperation Organization: history of involvement and interests
Full text linkRecent developments on the global arena, such as the deterioration of the relations between the United States (US) from one side, and Russia and China from the other, Russian-Chinese rapprochement after the Ukrainian crisis, open up a new discussion on the international organizations in Eurasia. The Shanghai Cooperation Organization (SCO) was established with the aim to fight against “three evils”: terrorism, separatism and extremism. Throughout the years it has shown its efficacy but lacked significant development in terms of evolution. Economic cooperation was stalled by the Russian stance, that was against the Chinese dominance in the Central Asian region. This led to the establishment of new economic entities such as Asian Infrastructure Investment Bank (AIIB) and the Belt and Road Initiative. The issue of horizontal expansion was banned until the mid-2010s when Russia and China agreed to grant membership simultaneously to India and Pakistan. The aim of this article is to analyse Chinese foreign policy in the SCO and to find its interests and motive forces and the current relation to the organization.
CITE THIS PAPER:
Mursaliev, Araz O. 2021. "CHINA IN THE SCO: HISTORY OF INVOLVEMENT AND INTERESTS" JOSSTT 1(01):01. DOI: https://doi.org/10.52459/josstt321010
The consequences of the us sanctions policy implementation: the Nord Stream 2 gas pipeline case
Full text linkoai:ojs2.eruditus-journals.com:article/1It has become common practice for the US administration to apply sanctions to countries that adopt policies to defend their political, economic, and military interests but affect or are against those of the US. The application of the US sanctions policy has been extended in recent years to include even friendly or allied countries.When is the US sanction policy applied? In principle, when other countries assume positions or adopt political, economic, and military policies that do not respect or reflect the US interests or do not support its commercial, economic, political, or military policies and positions. As a result of the US sanctions policy's expansion application, now the US government does not distinguish between allies, friends, adversaries, or enemies. Sanctions against Germany and other European countries and companies and Russian companies for constructing the Nord Stream 2 gas pipeline are clear examples of what has been said above.But, what happens if all great powers apply the same US sanction policy? The reaction of China, Russia, and the EU, among others rejecting the US sanctions policy covering political, economic, and military issues, complicates the search for acceptable solutions to the main world problems increasing tensions at this level. Undoubtedly, this is not the way to find acceptable solutions to international or regional disputes. They can only be found through negotiations in good faith, the use of diplomacy, and increasing trust among countries involved in regional and international disputes. The use of unilateral force, the adoption of arbitrary sanctions, or the threat of military actions to force change another country's position or policy will not strengthen international peace and security but the contrary.
Cite this paper:
Morales Pedraza, Jorge. 2021. The consequences of the US sanctions policy implementation: The Nord Stream 2 gas pipeline case. Journal of World Economy: Transformations & Transitions (JOWETT) 1(01):01. https://doi.org/10.52459/jowett311010
Critical-discursive social constructionism: what is the standpoint of social constructionism research?
Full text linkAn overview of critical-discursive Social Constructionism is presented, showing its historical development and its critique of any methodological approaches that do not take into consideration the social-historical reality. In particular, it criticises the dualistic ‘external object - cognitive subject’ position of the Positivist current that has its roots in the Enlightenment and later in Modernity, which leads to a conception of reason and scientific truth as supposedly incontrovertible realities outside of any historical and social construction. Finally, social constructionism is presented not as a formal theory grounded of strict methodological principles, but rather as an approach that attempts to show the limitations of certain scientific or methodological views, emphasising the importance of social construction through language and the relative relevance of different positions, from which a certain vindication of epistemological relativism emerges.
Cite this paper:
Martínez Richard, J. 2021. "Critical-discursive social constructionism: What is the standpoint of social constructionism research?" JOSSTT 1(01):05. DOI: https://doi.org/10.52459/josstt1150721
Prospects for the Implementation of Transitional Justice in Ukraine
Full text linkThe study examines the features of transitional justice. The author gives definitions and goals of this concept. As it was noted by the scientists Ovcharenko and Shcherbaniuk, transitional justice includes judicial and extrajudicial mechanisms, such as prosecution, compensation, truth commissions, institutional transformations, and a combination of the above. For the first time, the content, main elements, and mechanisms of transitional justice are described in detail, which is considered in the context of the simultaneous transformation of Ukrainian society from an authoritarian past to a democratic present and from military conflict to post-conflict. Referring to Arkadiy Bushchenko (2017) transitional justice, as a model of society's transition from authoritarian to democratic, and from armed conflict to post-conflict, is currently the most modern approach to solving the problems that Ukraine has been dealing with since the end of 2013. Therefore, given this understanding, there is a prospect of developing a national legal model for the implementation of the basic principles of transitional justice. With the ultimate goal of the process of reconciliation in society, the concept of transitional justice involves the simultaneous operation of the state in four areas: effective criminal prosecutions, reparations, institutional reforms, and official statement of historical truth.
Cite this paper:
Chubinidze, Oleksandra (2021). "Prospects for the Implementation of Transitional Justice in Ukraine" Journal of Social Sciences: Transformations & Transitions (JOSSTT) 1(02):07. DOI: https://doi.org/10.52459/josstt1271221
Information & communication technologies (ICT) and economic development of the Azerbaijan Republic
Full text linkNowadays, the Republic of Azerbaijan is one of the most developed countries in the Caucasus region. The country’s development is associated with hydrocarbon production; but in recent years, the country’s authorities have taken a course towards the IT sector development. This is an extremely interesting phenomenon, especially considering the low base's effect and the high growth rate of the main indicators which characterize a digital society. Within the article, the authors identify the relationship between the indicators of the digital society development and IT and the growth rate of the country’s economy and then the authors characterize the trends which are characteristic for Azerbaijan’s IT sector. The major challenge of the article is the preparation of the statistics for research, as they are scarce and segmented. There are two main elements of the research novelty: first, the methodology proposed by the authors for assessing the investments' effectiveness in IT by comparing them with the ITU index and, second, the identifying the shortcomings of the IT development system with the use of the digitalization efficiency analysis (from the below). The major contribution of the article is the development of the econometric methods for the estimation of the ICT investments’ effectiveness on the example of the Azerbaijan economy and the proof of the high importance of the sphere for the future of the country economy.
Cite this paper:
Guseynov, Shahin; Abdullaev, Ravshan; Mehdiyev, Teymur; Edelkina, Anastasia. 2021. "Information & Communication Technologies (ICT) and Economic Development of The Azerbaijan Republic" Journal of World Economy: Transformations & Transitions (JOWETT) 1(01):03. DOI: https://doi.org/10.52459/jowett311010
Interdependence of Influence between Risk Management Behavior, MSME Characteristics, and Overconfidence on Business Sustainability: (A case study in Indonesia)
Full text linkMore than 50% of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia run their business for reasons of livelihood, while 30% do this since MSMEs are profitable, and may support their living costs. This study aims to determine and analyze the influence of risk management behavior, characteristics of MSMEs through overconfidence on MSME business sustainability, and consequently MSMEs as a source of livelihood. The result of this study indicates that risk management behavior has a significant positive effect on overconfidence, while the characteristics of MSMEs have a significant negative effect on that. In turn, it’s shown that overconfidence had a positive and significant effect on the sustainability of MSMEs. However, the characteristics of MSMEs and risk management behavior had no significant positive effect on the sustainability of MSMEs. These results indicate also that MSME entrepreneurs’ overconfidence plays a major role in managing their business, which could be considered by the local government and/or the central government in determining MSME policies, such as placements to sell which are given and regulated by each local government considering the accessibility of sellers and buyers as well as their safety.
Cite this paper:
Jaluanto, Tyoso S. P.; Sukardi, Sukardi; Devita, Eliza F. (2021). "Interdependence of Influence between Risk Management Behavior, MSME Characteristics, and Overconfidence on Business Sustainability (A case study in Indonesia)" Journal of World Economy: Transformations & Transitions (JOWETT) 1(03):09. DOI: https://doi.org/10.52459/jowett1391221