European Journal of Government and Economics
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The Relationship Between Corporate Tax Rate and Economic Growth During the Global Financial Crisis: Evidence from a Panel VAR
No full textThis paper compares dynamic relationship between economic growth and corporate tax rate during the recent financial crisis and the non–crisis period using a panel VAR for 29 OECD countries over the period 1998-2016. The results show that corporate tax rate has a significantly negative effect on economic growth. Moreover, the recent financial crisis has had a significant effect on the endogenous interaction between corporate tax rate and economic growth. According to Granger causality test, there is only one-way causality from corporate tax rate to economic growth during the non-crisis period. Interestingly, there are not any causal relationships between corporate tax rate and economic growth during the crisis period. The results show that the recent crisis has had a significant effect on the endogenous interaction between corporate tax rate and economic growth
FDI in Selected Developing Countries: Evidence from Bundling and Unbundling Governance
No full textThe objective of this study is to assess governance drivers of FDI in a panel of BRICS and MINT countries for the period 2001-2011. We bundle and unbundle governance determinants using a battery of contemporary and non-contemporary estimation techniques. Our findings reveal the following: Firstly, for both contemporary and non-contemporary specifications, while the majority of our governance determinants of Gross FDI are significant, they are overwhelmingly insignificant for Net FDI. Secondly, the significance of the governance dynamics in increasing order of magnitude are general governance, political governance, economic governance, political stability, regulation quality and government effectiveness. Thirdly, for non-contemporary specifications, the significance of governance variables is as follows in ascending order of magnitude: economic governance, institutional governance, general governance, corruption-control, political governance and political stability. The importance of combining governance indicators is captured by the effects of political governance, economic governance and institutional governance. The results indicate that the simultaneous implementation of the various components of governance clarifies a country’s attractiveness for FDI location. Policy implications are discussed with particular emphasis on the timing of FDI and its targeting
Give me liberty or give me money: the fiscal decentralization and autonomy of regional governance in Slovakia
No full textThe aim of this study is to focus on fiscal decentralization and regional financial autonomy in Slovakia. The public administration reform and fiscal decentralization process in Slovakia ought to increase the autonomy of the multi-level governance and to decrease its dependency on state budgeting and other transfers. We argue that regional territorial governance is greatly dependent on financial incentives from central state financing, which limits the expected effect of decentralization and regional fiscal autonomy. By collecting quantitative data on state transfers and revenues to regional governments we demonstrate the limits of spatial, financial and decision-making autonomy within particular regions. The selected time frame 2005-2016 reflects all stages, reforms and changes in the fiscal decentralization of the second level governance in Slovakia
Regulating labour platforms, the data deficit
No full textIt is widely reported that there is a data deficit regarding working conditions in the gig economy. It is known, however, that workers are disadvantaged because they are not classed as employees with the result that they lack work-related entitlements and may not be protected by the social welfare safety net. Nor is this compatible with the social market economy enshrined in the European Union treaties. Two obstacles are that labour law and social policy are mainly a national competence and that platforms are reluctant to share data with regulators. In this paper I take the specific case of offline labour platforms intermediated by app and smart phone such as driving and delivering and look for new pathways between access to data and the shaping of public policy in member states with potentially legal certainty
Deciding on Financial Renegotiation in Public-Private Partnership Projects
No full textThis paper analyzes the renegotiation problem in the context of public-private partnership projects. Utilizing a game-theoretic approach, an equilibrium is found in which the government finds that accepting renegotiation can be efficient. A first indicator is proposed based the public sector comparator (PSC) that can be estimated by policymakers as an additional tool when deciding about renegotiation. A second more theoretical indicator is derived to analyze the economic and financial variables affecting renegotiation. This indicator is applied to four case studies in different countries (England, Taiwan, Portugal and China) and the results suggest that the model performs well
Contemporary decision-making of mid-size city in the Czech Republic using Multiple Criteria Decision-making
No full textThe strategic planning process has been implemented into the local governance environment in the Czech Republic during last two decades. But the strategic goals that are expressed in the strategic development documents on the local level are only the part of the issues that are to be fulfilled or solved by the local government. In the everyday practical governance there is always a list of projects that appear from the actual technological, technical, public or political demand. The contemporary decision-making process is based on the personal or collective political decision or on the actual technical demand. But there are also municipalities that are already implementing strategic planning and want to avoid unsystematic interventions and decision-making processes. They try to adopt some attitudes from the corporate sphere to make the decision-making process more open and clear. This paper deals with the methodology of the mid-size city and tries to discuss it and offer some improvements. The paper’s other goals are to offer comparison of typical projects that could be found on the local level and to make a model of results provided by the different methodologies used for the decision-making process, specifically weighted sum average and analytic hierarchy process
The challenge of measuring poverty and inequality: a comparative analysis of the main indicators
No full textThis paper presents a review of the main available indicators to measure poverty and income inequality, examining their properties and suitability for different types of economic analyses, and providing real-world data to illustrate how they work. Although some of these metrics –such as the Gini coefficient– are most frequently used for this purpose, it is crucially important for researchers and policy-makers to take into account alternative methods that can offer complementary information in order to better understand these issues at all levels
Path – Dependence and European Fisheries Management
No full textFor a long time there has been an attempt to explain the current crisis in the fisheries sector in terms of a confrontation between those defending “fish” and those defending “fishermen”. However, the real problem concerns the governance of fisheries and how common resources are assigned; it is not just a crisis of resources per se. Therefore, an insightful understanding of the scenario leading to a satisfactory solution is more complex than it is often believed since there is a need to tackle problems related to the state of stocks, fishermen’s strategies and ecosystems. The fishing sector is not exclusively concerned with production activities as some analysts would have us believe. Rather, it is an area that integrates a number of important features and requires different approaches dealing with the industrial aspects of the sector, distribution and consumption. The fishing sector is characterised by a high level of public intervention, in terms of regulation, finance and state subsidies. The plethora of norms has become such that, currently, the main areas of debate are those concerning how best to preserve resources and ecosystems (by managing and sustaining certain economic levels for example), the welfare of those who make their living from fishing, and the social impact on coastal communities among others. The main focus of debate used to be the conditions of access to fishing and fisheries. Nowadays, however, since early 2000s, efforts have concentrated on the limits of biological safety in order to guarantee sustainable and efficient fishing.This work carries out a dual analysis of the objectives of fisheries management. The first focuses on path dependence and the second on a debate among the three main players and their changing views. This approach allows us to clarify the different interests as regards policy-making, as well as to clearly define the different management implementation
Do Government Revenues Matter for Economic Growth? Evidence from Nigeria
No full textThe bursting of crude oil prices in the international market since mid-2014 has resulted in dwindling oil revenue, which has led to economic recession in Nigeria. The recession has further exacerbated existing socioeconomic problems bedeviling the country. In the light of this, we examined the effect of government revenues (oil and non-oil revenues) on economic growth, both in the short-run and the long-run using autoregressive distributed lag method. Our findings show that government revenues are indispensable to economic growth in Nigeria. In addition, we found that economic growth is more responsive to oil revenue than non-oil revenue. Based on our findings, we advocate for effective and efficient use of government revenues. Furthermore, since oil revenue fluctuates more than non-oil revenue, we further advocate for creation of an enabling business environment geared towards improving the contribution of the non-oil sector to the government revenue base
Why the current Peak in Populism in the US and Europe? Populism as a Deviation in the Median Voter Theorem
No full textThe current surge of populism in Europe and the United States calls for further analysis using public choice tools. In this article, populism is modelled as a deviation from the normal state of the median voter theorem. This study adds to the public choice literature by proposing a model of populism which is suited, not only to left-wing populism, but also to other forms of populism prevalent in Europe and the United States today. It is argued that, due to changes in the assumptions underpinning the median voter theorem, the operation of the model can be modified, and as a result surges of populism occur. Those assumptions concern: the political spectrum; the distribution of ideological preferences; sociological, psychological and historical factors; political party competition; and extreme political preferences. It is shown that the current peak of populism in Europe and the United States can be explained through a simultaneous change in all of these aspects, leading to a “perfect storm” of populism.