Millennium - Journal of International Studies最新文献

{"title":"Foreign direct investment and shadow economy: One-way effect or multiple-way causality?","authors":"I. Tiutiunyk, Wojciech Cieslinski, A. Zolkover, Laszlo Vasa","doi":"10.14254/2071-8330.2022/15-4/12","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/12","url":null,"abstract":"The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"14 4","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72472741","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}

{"title":"Defence industries in small European states: Key contemporary challenges and opportunities","authors":"I. Ploom, Tarmo Kalvet, M. Tiits","doi":"10.14254/2071-8330.2022/15-4/7","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/7","url":null,"abstract":"This study addresses the challenges and opportunities that small European states face when weighing their defence industrial policy options. The article builds on a technology–based small state industry governance model by adding a defence industry–specific layer. This model is used to analyse how defence industries of small states could contribute to the European Union common defence industrial policy, and how the latter could likewise be beneficial to small member states. The paper discusses defence industrial policy challenges and opportunities both from the wider European Union and small state perspective. Global and regional geopolitical trends are explored among other specific topics, as are aspects of regional and domestic governance like the market structure, procurement, and R&D. The article concludes that small European states could both win and lose with the establishment of a common defence market, depending on the market design. Ideally, it should be combined with the simultaneous creation of an EU defence industrial policy that enables smaller, and especially less developed, member states to maintain and advance their own industries, preferably participating within the value chains of defence industries of the larger countries.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"71 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88536536","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}

{"title":"Cross-border cooperation in the shadow of crisis – the Turów Coalmine case","authors":"Joanna Kurowska-Pysz, Ewa Łaźniewska, Hynek Böhm, Artur Boháč","doi":"10.14254/2071-8330.2022/15-4/3","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/3","url":null,"abstract":"Background: The study concerns the inter-governmental dispute between the Polish and the Czech governments on the planned Turów coalmine expansion and its impact on the cross-border cooperation between the Polish and the Czech entities, particularly in the sphere of cross-border partnerships conducting microprojects financially supported by the INTERREG Program. The conflict went before the European Court of Justice in 2021 and was the cause of hostility between the two nations. the conflict was concluded in February 2022, with the signing of the agreement on the future of the Turów coalmine and compensation for the Czechs. Although the dispute has ended formally, but some problems in relations between the Polish and the Czech partners on the borderland still exist. Research problem and questions: The research problem concerns recognizing how inter-governmental disputes at a national level can impact on cross-border cooperation at a local level, and in particular the Polish-Czech partnerships conducting cross-border microprojects. It comprises of research questions concerning the impact of this inter-governmental dispute on the ongoing and future Polish-Czech institutional partnerships in cross-border projects and the factors necessary to improve the resilience of cross-border cooperation at a local level to political factors and actors. Methods: The authors used both qualitative research methods (in-depth interviews, media analysis, desk research) and quantitative research methods (survey CATI, CAWI surveys). Conclusions: The study shows slight changes in the intensity, efficiency and approach to the cross-border cooperation; it reveals the future activities essential to improving the Polish-Czech relations in the Nysa Euroregion. It points out the important factors necessary to improve the resilience of cross-border cooperation to political factors.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"1 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89444271","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}

{"title":"Does Kyrgyz banking system liquidity provide economic growth?","authors":"I. Hoxha, N. Atabaev, Begimai Marlenova, Gulnaz Atabaeva, I. Keles","doi":"10.14254/2071-8330.2022/15-4/15","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/15","url":null,"abstract":"The relationship between the liquidity ratio, the economy and the banking system of a country is a popular subject among academics. This research aims to understand this connection for Kyrgyzstan, a developing economy. The Vector Auto Regression approach was used to trace the association of liquidity ratio to loan and deposit volumes, interest income, net interest income, treasury bill volume, and gross domestic product based on the quarterly data. The data was obtained from various publications of the National Bank of the Kyrgyz Republic. The primary literature indicates that bank liquidity has an inverse correlation not only with bank profitability but also with economic growth. The findings confirm a similar relationship for Kyrgyzstan. Furthermore, liquidity has a positive relationship to treasury bills volume, but a negative correlation to economic growth. However, there was no significant correlation between the liquidity ratio and deposit volumes. Therefore, this paper found that high liquidity ratio of the Kyrgyz banking system negatively effects both the profitability of the banks and economic growth.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"11 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82783711","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}

{"title":"Country performance in e-sport: Social and economic development determinants","authors":"M. Kashcha, Valerii Yatsenko, Tamás Gyömörei","doi":"10.14254/2071-8330.2022/15-4/14","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/14","url":null,"abstract":"The article examines the cases of 18 countries that have been consistently ranked by Esports Earnings over the past ten years to find the social and economic determinants that may determine a country’s success in the international e-sports arena. In the study, indicators of a country’s cybersports success consider the annual volume of prizes won by its e-sportsmen, the ranking place in the world rankings and the total number of e-sportsmen. The hypothesis about the possible influence of a number of macroeconomic indicators, as well as the characteristics of the overall level of social stability on the development of e-sports within the country, was put forward and verified. The scientific landscape of research on cybersports, published in Scopus (by prevailing research topics, the geography of research network leaders, and the evolution of scientific search), was structured using the VOSviewer toolkit. By means of canonical analysis, pairwise relationships in the chain “economic development – social development – e-sports development,” as well as determinants with strong intragroup and intergroup relationships, have been revealed; and these relationships were quantified in the aggregate by means of structural modeling. The results of the calculations showed that the economic stability of the country rather than social stability has a greater influence on its success in the international e-sports arena. The most relevant indicators of economic development, considering success in e-sports, are GDP, unemployment rate and direct foreign investments, social development – poverty rate, population migration and Gini coefficient.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"10 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75786433","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}

{"title":"The relationship between public debt and economic growth: The case of Azerbaijan","authors":"Farid Jabiyev, Aghamir Asgarov, Tutu Heydarli","doi":"10.14254/2071-8330.2022/15-4/13","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/13","url":null,"abstract":"This study investigates the relationship between public debt and economic growth in Azerbaijan by applying FMOLS model to data from 1995 to 2020. The findings of the study show that government debt negatively affects economic growth. They also indicate that a 1% growth in export and real exchange rate increases GDP by 0.209% and 0.202%, respectively. The results of this study are useful for policymakers and they advance the economic literature to facilitate further research into developing oil-rich countries.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"75 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73960287","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}

{"title":"Impact factors and structural analysis of the state's financial security","authors":"R. Dankiewicz, Bartłomiej Balawejder, Katarzyna Chudy-Laskowska, Ihor Britchenko","doi":"10.14254/2071-8330.2022/15-4/5","DOIUrl":"https://doi.org/10.14254/2071-8330.2022/15-4/5","url":null,"abstract":"The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"11 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83605910","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}

{"title":"CONTESTING AUTHORITY DISCOURSES IN DEFINING RELATIONS BETWEEN INDONESIA AND MALAYSIA","authors":"M. K. Abdullah, A. Anuar, A. Hara","doi":"10.32890/jis2022.18.7","DOIUrl":"https://doi.org/10.32890/jis2022.18.7","url":null,"abstract":"This article discusses and analyses relations between Indonesia and Malaysia from the relational dynamism between people and the state. Theoretically, the relations can be narrated through identity formation approach in the context of ‘authoritative-defined social reality’ and ‘everyday-defined social reality’. The reality of Indonesia-Malaysia relations in the last twenty-five years was very much defined by authoritative or elitist views, which have dominated and controlled the everyday discourses. However, elitist groups’ reality-defined perspective does not paint the whole picture of relations. This article argues that it is crucial to analyse the relations in the context of ‘everyday-defined social reality’ especially from the common people’s perspective such as workers, traders, activists, novelists, religious groups, artists, and families, who experience the reality of the relations. This ‘social reality’ can be observed in the dynamism of cross border relation between people-to-people, as has been shown in our case studies, in the border areas of Kalimantan Barat and Sarawak as well as Kalimantan Utara-Sabah. It shows complex but generally positive pictures in understanding relations between two countries. It is therefore expected that the awareness and understanding of this ‘everyday-reality’ can contribute to a better understanding of relations between the two countries. ","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"5 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88856138","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}

{"title":"EQUITY CROWDFUNDING INDUSTRY REGULATIONS IN MALAYSIA AND INDONESIA","authors":"Asmah Laili Yeon, Uni Tsulasi Putri","doi":"10.32890/jis2022.18.2","DOIUrl":"https://doi.org/10.32890/jis2022.18.2","url":null,"abstract":"Equity crowdfunding (ECF), also known as crowd-investing or investment crowdfunding, is a way of boosting capital used by start-ups and early-stage companies. Fundamentally, ECF offers the company’s securities to potential investors in exchange for their investment. As a result, each investor is authorized to a share in the company proportionate to their financing. This paper discusses the ECF industry regulations in Malaysia and Indonesia in terms of its prospects and challenges during the COVID-19 pandemic through doctrinal research using the conventional legal method. Critical and analytical approaches were used to achieve its objectives. The findings showed that ECF has seen a growth of over 170% in new accounts registered in Malaysia, with 65% of them being retail investors. There is a great demand from individual and retail investors who are looking to invest in various investment products and services made accessible to them. The Capital Markets and Services Act 2007 plays an important role to provide good governance of ECF business in Malaysia. Further, the Guidelines on Recognized Markets (GRM 2020) (Item 1.01 GRM) and section 15 (g) of the Securities Commission Act 1993 clarifies the function of the Securities Commission to regulate ECF activities and protect the interests of the parties involved, especially investors. In Indonesia, the main regulator of ECF is the Financial Services Authority and the new ECF law is the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning Securities Crowdfunding. The regulation aims to extend the scope of the crowdfunding which includes debt-based securities and sukuk. The prospects of ECF business in both countries are great especially in the era of the pandemic because the fintech, which has led to new investment products and services, is a vital force that helps democratize investments and will continue to increase as investors become more educated and informed. In terms of the ECF law, comparatively, it is different in terms of the governance, process and procedure, types of investors, etc. which are applicable in both Malaysia and Indonesia.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"27 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88163666","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}

{"title":"WAS NIGERIA’S OFFERING OF ASYLUM STATUS TO PRESIDENT CHARLES TAYLOR OF LIBERIA A DIPLOMATIC BLUNDER?","authors":"Dr Christopher Ochanja Ngara","doi":"10.32890/jis2022.18.3","DOIUrl":"https://doi.org/10.32890/jis2022.18.3","url":null,"abstract":"This paper critically examines the appropriateness or otherwise of the granting of asylum status to former Liberian President, Charles Taylor by the Nigerian government on August 11, 2003. The paper argues that the granting of asylum status to Taylor was consistent with Nigeria’s Afrocentric foreign policy and traditional “big brother” role in Africa. The objective of the asylum was to end the 14-year-old-conflict and return peace and stability to Liberia. However, after the asylum was granted to Mr. Taylor, Nigeria came under serious international pressure from the United States (US) and Western allies to release Taylor for trial at the Special Court for Sierra Leone (SCSL). Using desktop review, the findings showed that the asylum was an outcome of a multilateral agreement in which the United Nations (UN), African Union, Economic Community of West African States (ECOWAS), the US, and the United Kingdom (UK) played active roles. The paper also establishes that granting asylum to Taylor was within Nigeria’s international obligation under Article 12(3) of the African Charter on Human and Peoples’ Rights of 1981, for which Taylor qualified at the time of the asylum. Similarly, the Declaration of Territorial Asylum, 1967 gives asylum granting the state the powers to evaluate the grounds for granting such asylum. Thus, Nigeria’s asylum accorded to Taylor was the country’s prerogative and consistent with international law even though he was indicted for war crimes and crimes against humanity by the SCSL. Therefore, Nigeria’s action in granting asylum to Mr. Taylor neither violated any treaty to which Nigeria was a signatory at the time of granting the asylum nor amounted to a diplomatic blunder. Rather, Nigeria’s willingness to grant asylum to Taylor which subsequently led to the successful resolution of the Liberian crisis was widely commended in global diplomatic circles. Apart from applying indigenous diplomacy in conflict resolution, Nigeria’s rating as an effective regional power increased. To sustain the country’s pedigree of diplomatic excellence in resolving the Liberian crisis, Nigeria should rally ECOWAS countries to deepen economic integration, achieve self-reliance and make the sub-region less vulnerable to manipulation by Western powers.","PeriodicalId":18593,"journal":{"name":"Millennium - Journal of International Studies","volume":"27 2 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2022-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77088304","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}