Political Economy: Government Expenditures & Related Policies eJournal最新文献

{"title":"The COVID-19 Pandemic from the Perspective of Risk Theory (Pandemia COVID-19 z perspektywy teorii ryzyka)","authors":"Andrzej Klimczuk","doi":"10.2139/ssrn.3859540","DOIUrl":"https://doi.org/10.2139/ssrn.3859540","url":null,"abstract":"English Abstract: The article presents an overview of selected connections of the COVID-19 pandemic with risk theories. The study first explores the basic concepts of preparing and mobilizing networks of public policy actors to act together under conditions of uncertainty. The following section discusses the pandemic risk preparedness and fighting. Then, selected possible social, economic and political effects of the COVID-19 pandemic are discussed. In summary, recommendations regarding the public management in the further stages of the pandemic development and in the post-pandemic period were indicated, as well as proposals for further research directions.Polish Abstract: Artykuł zawiera przegląd wybranych powiązań pandemii COVID-19 z teoriami ryzyka. W pierwszej kolejności przedstawiono podstawowe pojęcia dotyczące przygotowania i mobilizowania sieci podmiotów polityki publicznej do wspólnych działań w warunkach niepewności. W dalszej części omówiono zagadnienie gotowości na ryzyko wystąpienia pandemii i jej zwalczania. Następnie przedstawiono wybrane możliwe efekty społeczne, gospodarcze i polityczne pandemii COVID-19. W podsumowaniu wskazane zostały rekomendacje dotyczące zarządzania podmiotami publicznymi na dalszych etapach rozwoju pandemii i w okresie po pandemii oraz propozycje dalszych kierunków badań.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"33 10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115974276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Municipal Bond Insurance and the U.S. Drinking Water Crisis","authors":"Ashwini Agrawal, D. Kim","doi":"10.2139/ssrn.3813348","DOIUrl":"https://doi.org/10.2139/ssrn.3813348","url":null,"abstract":"We show that the collapse of the municipal bond insurance industry plays an important, but previously overlooked, role in driving regional variation in U.S. drinking water pollution. Public water infrastructure has traditionally been financed using municipal debt partly backed by a small number of monoline insurers. Starting in the 1990’s, some--but not all--of these insurers began insuring structured financial products unrelated to water infrastructure. We show that after these products crashed in value in 2007, municipalities that were more reliant on relationships with adversely affected insurers faced higher borrowing costs. These municipalities then reduced their borrowing and scaled back investments in water infrastructure, leading to increased water pollution. The data suggest that market failures in the municipal bond insurance industry explain 32% of the relative rise in U.S. drinking water pollution since 2007.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127727486","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Private Markets, Infrastructure and Venture Capital in the Post-COVID Era: The Pension Perspective","authors":"David Weeks, M. Nicolas J. Firzli","doi":"10.2139/SSRN.3806645","DOIUrl":"https://doi.org/10.2139/SSRN.3806645","url":null,"abstract":"This second of a series of seven papers co-authored by M. Nicolas J. Firzli and David Weeks looks at the notions of private markets – PE, VC, private debt and infrastructure – and the \"quest for yields\" in a low interest rates environment, which where discussed at two recent global conferences organised by the G7 Pensions Summit (G7 P7) and the Singapore Economic Forum (SEF). ESG, impact investing, renewable energy and the notion of green growth are also discussed by the co-authors and other experts, including the Hon. Nick Sherry, fmr. AUS minister of Superannuation & Corporate Law, Nick Silver, chairman, Climate Bonds Initiative (CBI), Michael Dennis, Head, APAC, Alternatives & Cap. Markets, BlackRock, Dr Guan Seng Khoo, Singapore Management University (SMU) and Ingrid Edmund, Columbia Threadneedle Investments (CTI)The notion of financial long-term-ism is considered from the perspective of institutional asset owners, notably in the US, Britain and the European Union (EU), where \"pension fund regulation and the structure of the industry [often] puts a premium on liquidity and causes short-termism, at the expense of long-term investment and patient capital.”Australia has seen much interest in privatisation of public functions/assets. This has increased opportunities for private investment in infrastructure. It has, however, raised political discussion about the correct pricing of “monopoly assets”, such as large regional airports and water utilities.The authors also look at some of the recent developments in Canada, China, India and various ASEAN jurisdictions, including Singapore and assess the role played by the city-state in a complex period: \"the COVID crisis has accelerated the mutually reinforcing effects of the Age of Empowerment (ESG, Equity and Entrepreneurship/the Venture Capitalist Ethos), the Age of Geoeconomics (intensifying Sino-American coopetition) and Datafied World Economy (Digitalization, Ai, Cybernetics), and Singapore is positioned precisely at the crossroads where these three powerful currents meet.”Some of the financial and geo-economic aspects of the \"Post Brexit\" era are also analysed. The authors note that HM Government has invited four key maritime powers to join the 47th G7 summit held in Carbis Bay, Cornwall later in the year: Australia, South Korea, India and South Africa, thus \"bringing the blue economy to the fore of the global policy agenda\".","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122674593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tenders and Bid'N in US Federal Public Procurement Markets: Foreign Suppliers and Sub-Contractors playing a Game of Snakes and Ladders?","authors":"Sandeep Verma","doi":"10.2139/ssrn.3797322","DOIUrl":"https://doi.org/10.2139/ssrn.3797322","url":null,"abstract":"This law brief analyses the impact on foreign suppliers and sub-contractors of recent changes made to the US federal public procurement landscape especially by the new Administration, through new changes to the Federal Acquisition Regulation as well as some recent Executive Officers.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125106236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Crime, Correction, Education and Welfare – What Role Does the Government Play?","authors":"Jose Aranzazu, D. Hazra","doi":"10.2139/ssrn.3509381","DOIUrl":"https://doi.org/10.2139/ssrn.3509381","url":null,"abstract":"This paper compares the effectiveness of the impact of government spending on welfare and education with that of law enforcement and correction on crime rate. Using data from fifty US States across a time period of 1994-2014, linear regression with Beck and Katz (1995) panel corrected standard errors reveals that public welfare and education spending can potentially lower violent and property crime rates but law enforcement spending can only deter property crime. However, correctional spending can corroborate both types of crimes. Further, results of two-step GMM estimation confirm the crime-reducing impact of welfare spending but not that of education or law enforcement spending. This results in the policy implication that more resources be allocated towards welfare programs. We also find little to no evidence of the presence of crowding out of one category of spending by another.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127317034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Disastrous Discretion: Ambiguous Decision Situations Foster Political Favoritism","authors":"Stephan A. Schneider, Sven Kunze","doi":"10.2139/ssrn.3786196","DOIUrl":"https://doi.org/10.2139/ssrn.3786196","url":null,"abstract":"Allocation decisions are vulnerable to political influence, but it is unclear in which situations politicians use their discretionary power in a partisan manner. We analyze the allocation of presidential disaster declarations in the United States, exploiting the spatiotemporal randomness of all hurricane strikes from 1965–2018. We show that biased declaration behavior is not politically affordable if a disaster is either very strong or weak, when relief provision is clearly necessary or not. However, in ambiguous situations, after medium-intensity hurricanes, presidents favor areas governed by their co-partisans. Our nonlinear estimations demonstrate that this hump-shaped alignment bias exceeds average estimates up to eightfold.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127025882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Keep Calm and Do Nothing - Trading Behavior of Swedish Retirement Investors during the COVID-19 Pandemic","authors":"Johannes Hagen, Amedeus Malisa, Thomas Post","doi":"10.2139/ssrn.3775036","DOIUrl":"https://doi.org/10.2139/ssrn.3775036","url":null,"abstract":"How did investors in the Swedish Premium Pension System (PPS) react to the stock markets shock ignited in 2020 by the COVID-19 pandemic? The share of investors that traded more than doubled, and trades shifted capital from equity funds to low risk interest funds. In economic terms, however, trading activity stayed at very low levels—less than two percent of investors traded in March 2020 and there was no effect on pension withdrawals. Given the vast evidence on retail investors’ strongly increasing trading volume in crisis times, the reaction of PPS investors looks surprisingly smart, i.e., avoiding the many mistakes that investors incur when they try to outsmart the market. Potentially, the often-criticized choice architecture of the PPS that induces strong inertia provided positive side effects in times of a severe market shock.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127159352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Социально-экономические эффекты образования: анализ данных стран ОЭСР и России.(Socio-economic effects of education: analysis of data from OECD countries and Russia)","authors":"Mark Agranovich, A. Dreneva, Yulia Ermachkova, Marina Livenets, I. Seliverstova","doi":"10.2139/ssrn.3888971","DOIUrl":"https://doi.org/10.2139/ssrn.3888971","url":null,"abstract":"Russian Abstract:В докладе на данных международной статистики анализируются взаимосвязи между индикаторами образования и социально-экономическими показателями На основе анализа международных баз данных и обзора литературных источников сформированы гипотезы о взаимосвязи показателей образовательных систем и эффектов образования для общества, экономики и отдельного человека, выбраны методы анализа отобранные показатели для анализа. English Abstract:The report analyzes the relationship between educational and socio-economic indicators using international statistics. Based on the analysis of international databases and a review of literary sources, hypotheses about the relationship between the indicators of educational systems and the effects of education for society, the economy and the individual are formed, methods of analysis are selected, indicators for analysis were chosen.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131158403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Stakeholder Management in Public Procurement: Rethinking the Engagement Strategy for Co-Financing in Rivers State, Nigeria","authors":"S. Warmate","doi":"10.2139/ssrn.3758216","DOIUrl":"https://doi.org/10.2139/ssrn.3758216","url":null,"abstract":"In Nigeria, there are many cases of failed public procurements resulting in undue delay or abandonment of projects, especially those wholly funded by the government, even in projects under co-financing arrangements with the Multilateral Development Institutions (MDIs). This anomaly is prevalent whenever an opposition party takes over the government because the political elites who originally support the projects lose interest or power. These failed projects represent a monumental loss to the public.<br><br>The MDIs, recognizing these political elites as stakeholders and understanding the intricacies of governance within the Nigerian context, apply their stakeholder engagement guidelines to engage this category of stakeholders to ensure that the government fulfils its obligations and responsibilities assigned in projects under co-financing arrangements. Sadly, the implementation of these guidelines is not monitored and evaluated on an ongoing basis within the procurement life cycle of these projects. Ideally, the guidelines for stakeholder engagement and management should be implemented from conceptualization to delivery of the project. Additionally, these guidelines do not anticipate the complex dynamics associated with changes of government, when existing priorities and policies are altered because of shifting interests. Often these interests affect the commitment of the government to carry out its obligation under these projects, particularly in cases where the government is required to provide counterpart funding, pay compensation, and provide other resources – and so the changes frustrate project implementation. Oddly, it may appear as though the MDIs, regardless of the time spent operating in Nigeria, do not anticipate political interference and policy inconsistencies whenever there is a change of government, for the MDIs have not adapted their stakeholder engagement strategies sufficiently to meet the ever-present political risk.<br><br>To meet these challenges, rethinking the stakeholder engagement strategy has become critical so that development projects will be delivered in a timely manner for the people’s benefit. The political risks that lead to abandoned projects mean that MDIs should increase the level of monitoring and evaluation and move away from co-financing agreements with the Nigerian states unless such co-financing arrangements allow for counterpart funds to be sourced directly from the Federal Government, which is also a principal party in financing agreement between states and the MDIs and which could mitigate project political risks at the state level.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126249422","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Budget-Beneficiary Analysis of the National Social Assistance Program in Respect to the Social Sector of India","authors":"Abhilasha Kotwal","doi":"10.2139/ssrn.3737651","DOIUrl":"https://doi.org/10.2139/ssrn.3737651","url":null,"abstract":"The National Social Assistance Programme (NSAP) is a foundational social sector scheme of India. The growth of the tertiary or services sector in India is a unique example of pushing ahead traditional models of economic growth. Today 73 years later, the growth of the service sector has contributed 61.5% to the GDP. The paper aims to study the growth of the social sector schemes with a focus on budget allocation and beneficiary analysis under NSAP and to offer an assessment of the best and worst performed component of the NSAP. The research after presenting a detailed analysis of NSAP's performance in the social sector and the performance of individual schemes under NSAP, points out certain identified issues concerning NSAP showing a way forward.<br>","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"155 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134015275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}