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THE AMBUSH OF AFRICAN PHILOSOPHY: AN EXHUMATION OF CLASSICAL LIBERAL PRINCIPLES IN THE EVOLUTION OF AFRICA SOCIETIES

THE AMBUSH OF AFRICAN PHILOSOPHY: AN EXHUMATION OF CLASSICAL LIBERAL PRINCIPLES IN THE EVOLUTION OF AFRICA SOCIETIES

Author(s): Ibrahim Anoba / Language(s): English Issue: 1/2017

The persistent resentment towards classical liberal principles especially individualism and free market in contemporary Africa, represents an outcome of decades of ambush against the ideology despite its clear connections with traditional African philosophy and relevance to the prosperity of modern African states. This work attempts to draw comparisons between social and economic organisation in traditional Africa and classical liberal principles. Contrary to literatures that portray the community as the real and only end in traditional African societies, elements like free trade; market economy; consensus; anarchy and limited governance negates this position. While tracing the cause of Africa’s cling to socialism and communism, this paper presents an ideological transition from pre-colonialism to nationalist and post-independent Africa. It concludes by demystifying the arguments of individualism as antithetical to African morality. It also justified the inevitability of classical liberal principles in modern Africa.

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Anatomizing urban phenomena through the lens of political economy: A modern revisit (review of Reconstructing urban economics: Towards a political economy of the built environment)

Anatomizing urban phenomena through the lens of political economy: A modern revisit (review of Reconstructing urban economics: Towards a political economy of the built environment)

Author(s): Yung Yau / Language(s): English Issue: 1/2017

Review of: Title: Reconstructing urban economics: Towards a political economy of the built environment Author: Franklin Obeng-Odoom Publisher: ZED Books Place and year of publication: London, 2016 Number of pages: 296 [ISBN: 978-1-7836-0659-7]

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Wyzwania w ocenie wpływu sankcji – perspektywa polityczna a ekonomiczna

Wyzwania w ocenie wpływu sankcji – perspektywa polityczna a ekonomiczna

Author(s): Beata Stępień,Paulina Pospieszna,Joanna Skrzypczyńska / Language(s): English Issue: 4/2016

The aim of this paper is twofold: to highlight the need of combining economic and political perspectives in analyzing sanctions outcomes, and to list and elaborate on challenges connected with uniting these two standpoints and creating cohesive and valid measurement methods. We not only credit this fusion as useful, but necessary to evaluate sanctions’ efficiency and effectiveness. We display these challenges in sanctions’ assessment and measurement by systematizing what we already know about the sanction effectiveness in political science and economics literature and by demonstrating strengths and weaknesses of some already published effectiveness evaluations. The paper is the part of the larger research project that we recently embarked upon with aim to analyze the onset, economic impact and effectiveness of sanctions imposed by the European Union.

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Political Instability, Corruption, and Economic Growth: Evidence from a Panel of OECD Countries

Political Instability, Corruption, and Economic Growth: Evidence from a Panel of OECD Countries

Author(s): Emin Ahmet Kaplan,Alpaslan Akçoraoğlu / Language(s): English Issue: 3/2017

The major aim of this paper is to examine the empirical relations between economic growth and a broad group of political instability factors including corruption, government instability, internal and external conflicts, religious and ethnic tensions, democratic accountability and bureaucracy quality. Moreover, one of the main objectives of our paper is to explore the effects of serious problems such as political instability and corruption on economic growth for a panel of OECD countries by using the system-GMM (Generalized Method of Moments) estimator during the period 1984-2012. Our findings confirm most of the literature that political instability is negatively associated with economic growth. We found strong evidence in favor of the hypothesis that corruption negatively affects economic growth. Our paper presents strong evidence in favor of the view that government stability and internal and external conflicts are obstacles for rapid economic growth. However, the results of system-GMM estimation indicate that democratic accountability, ethnic and religious tensions and bureaucracy quality have no statistically significant impact on economic growth of OECD countries.

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Česká republika a „nová“ Společná bezpečností a obranná politika EU: Čas zásadních rozhodnutí

Česká republika a „nová“ Společná bezpečností a obranná politika EU: Čas zásadních rozhodnutí

Author(s): Vilém Kolín / Language(s): Czech Issue: 3/2017

In the shadow of the profound transformation of the security environment, the long rejected idea of a multi-speed Europe in defence is taking shape. What is the Czech Republic’s stance in this context? Is it ready to adapt and make defence one of the government’s priorities, or will it only passively observe the events around it and at some point tolerate another intervention or occupation of another power? The article outlines several practical recommendations to the Czech Republic in the area of military capabilities, armaments, defence research, defence industry and market, which could provide guidance in this process.

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Felsefeden İktisada, İktisattan Krizlere, Krizlerden De Türkiye’ye Dersler

Felsefeden İktisada, İktisattan Krizlere, Krizlerden De Türkiye’ye Dersler

Author(s): Fatih Volkan Ayyildiz / Language(s): Turkish Issue: 33/2017

In this study, the author investigate, firstly, the economic thought as a whole and its development through historical eras starting before Common Era to present day, chronologically. The aim of doing this, understand how people and their thoughts on economics interact each other. The economic history examined in the aspect of school of thoughts after the world trade is widened. The analysis will be related to common problems of the 20th century and the beginning of 21th century. In addition to the literature survey related to the study, it was concluded that the mainstream economic thoughts were inadequate especially to explain the recent crises with the help of the graphs and figures related to the subject. From this point of view, after the crisis of 2008, Hyman Minsky's thoughts and the financial instability hypothesis lead to this study, which also includes some global and Turkey economic data and it has been revealed that some of the dynamics in Turkey are not working.

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Društvenopolitičke implikacije konzumerizma

Društvenopolitičke implikacije konzumerizma

Author(s): Jelena Gaković / Language(s): Bosnian Issue: 09/2016

Socio-political dimensions of consumerism and consumer resistance strategies which respond to dominant ideology and global capitalist corporations are the main topics of this paper. Sociological analysis aims to investigate the relations between consumption as omnipresent contemporary phenomena with the development of specific identities and the semantic level of individual consumer acts or possessions. Whether in the case of articulated activist movements, internet based campaigns to boycott certain products or adoption and promotion of alternative lifestyles, we argue in favor of growing response of active and informed consumers. “Political consumers” embody power that is achieved by expressing direct resistance to globalism.

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Performance Management As Panopticism: Embedding Intellectually Repressive Conditions In Academia

Performance Management As Panopticism: Embedding Intellectually Repressive Conditions In Academia

Author(s): Sadi Seyama,Clive Smith / Language(s): English Issue: 10/2016

This paper explores how performance management (PM) in higher education has become an oppressive panoptic tower in its pursuit of institutional accountability. Panopticism, derived from the panopticon, is used as a metaphor for academic surveillance. Using Foucault’s notion of panopticism, we argue that academics have succumbed to the ‘normalization judgment’ effected through systemic institutional surveillance practices. In this case study, we explored how PM facilitated through target-setting performance contracts is experienced by a selection of South African university academics. There are indications that performativity is creating a reality that is constraining, alienating and individualizing, thereby detracting from the academic enterprise.

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Политичке последице економских реформи 60-их година у СФРЈ. Од дезинтеграције економског система до конфедерализације Југославије (1961–1971)

Author(s): Danijel Kežić / Language(s): Serbian Issue: 2/2017

This paper analyses the impact of economic reforms of 1961 and 1965 on the process of decentralization and disintegration of political and economic system in Yugoslavia during the 1960s. This paper focuses on transformations of investment system caused by the implementation of free market economy, and the effects these transformations had on the political system of Yugoslavia. This paper also deals with the reform of the Yugoslav Railway during the 1960s, as a practical example of the process of transformations in Yugoslavia after the economic reforms. The central thesis of this paper is that the economic reforms influenced a division of Yugoslav economic system on the level of republics. This division of economic system was the first step toward a discussion about the national question and division of a political system of Yugoslavia.

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Sustainable Consumption in the Field of Nutrition in Germany – Four Examples

Sustainable Consumption in the Field of Nutrition in Germany – Four Examples

Author(s): Barbara Freytag-Leyer / Language(s): English Issue: 6/2012

Four main surveys in Germany focused on sustainable consumption in the field of nutrition. The results and the methods of these studies were analysed. The results show the complexity of nutrition behaviour and influencing factors. Organic products have become more familiar in recent years but the purchase frequency of organic products is low. Different quantitative and qualitative methods were used to gather data. Recommendations were given for the food supply chain as politics and consumer counselling in the conclusions of these projects. Advice for future research is offered at the end of the analyses. Inter- and transdisciplinary research and methods should increase. Not only nutrition, but also all household activities should be included in the analysis of sustainable consumption.

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W setną rocznicę urodzin. Wkład Profesora Zbigniewa Zakrzewskiego w rozwój nauki o handlu

W setną rocznicę urodzin. Wkład Profesora Zbigniewa Zakrzewskiego w rozwój nauki o handlu

Author(s): Maria Sławińska / Language(s): Polish Issue: 3/2012

The objective of the author of article is to present the contribution of Professor Zbigniew Zakrzewski in development of the science on trade in a synthetic expression. The main method of studies was an analysis of the literature sources comprising the Professor’s academic achievements in the period of more than 40-year creative work. The objective scope of studies was limited to Professor’s scientific works connected with the following issues: trade economics as a science, trade theory, trade policy, trade in its spatial expression, trade effectiveness and development of the economic thought in the science on trade. The carried out analysis shows that Professor Zbigniew Zakrzewski has made a great contribution to explanation of the theoretical bases of separation of trade economics and development of the trade theory.

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Etyka producentów żywności a postrzeganie artykułów spożywczych na rynku

Etyka producentów żywności a postrzeganie artykułów spożywczych na rynku

Author(s): Agnieszka I. Baruk / Language(s): Polish Issue: 1/2011

In her article, the author presents the subject matters of food producers’ ethics as a factor affecting perception by purchasers of those products and the very producer. Based on the results of primary empirical studies, she discusses the impact on the image of food products of unethical actions of producers, dividing them into the three groups: the actions related to the very product, actions connected with its packaging and actions related to advertising thereof. In each of the specified groups of actions, there are described, which actions – in the respondents’ opinion – mostly determine the negative image of the food product, and which are, in this context, of the least importance. Additionally, the author compares their role in shaping the image of its producer.

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Je li Adam Smith konzervativac? Nevidljiva ruka, institucionalni dizajn i društvena hijerarhija

Je li Adam Smith konzervativac? Nevidljiva ruka, institucionalni dizajn i društvena hijerarhija

Author(s): Marko Grdešić / Language(s): Croatian Issue: 03/2016

This article asks the following question: Is Adam Smith a conservative? Smith is usually seen as a key author of the liberal tradition, but some of his claims have a strong conservative overtone. Although he frequently defends the individual and his capacity to be the agent of his own history, Smith simultaneously limits this space, arguing that the very same individuals are incapable of understanding their own action, and arguing in favor of socially controlling and disciplining them. Three themes are discussed: (1) Smith’s metaphor of the invisible hand, (2) the question of institutional design, and (3) the question of social hierarchy. This article points towards certain tensions in the work of Adam Smith, the Scottish enlightenment, and the liberal tradition which was built, to a large extent, on these foundations.

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Austerity and Growth in Europe: Germany’s Impossible Mission

Austerity and Growth in Europe: Germany’s Impossible Mission

Author(s): Shampa Roy-Mukherjee,Vassilis K. Fouskas / Language(s): English Issue: 04/2016

This article provides a critique of neo-liberal, supply-side austerity policies as they unfold asymmetrically in the EU/Euro-zone and beyond. The main argument advanced is that, contrary to claims by the European Commission and Germany’s elite, growth and austerity are incompatible policy magnitudes. The Euro-zone constitutes the worst form of Gold Standard from which countries cannot escape and advance the imperative of domestic growth as external devaluation and import-substitution are no-options. The article shows neo-liberal austerity is currently being implemented via authoritarian forms of governance from above while cultivating racist and xenophobic movements from below

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Levels of Sino-Croatian Economic Relations

Levels of Sino-Croatian Economic Relations

Author(s): Lidija Kos-Stanišić,Kristijan Kotarski / Language(s): English Issue: 04/2016

This paper will give a comprehensive framework of the current Sino-Croatian economic relations. It will be primarily contextualised by Croatia’s status as the newest EU member-state and by its membership in the China + 16 framework for political, cultural and economic cooperation. Taking stock of this new institutional framework is essential in order to understand both the potential and the limitations to Sino-Croatian economic relations. Therefore, we will address this issue by nesting Croatian foreign economic policy within three hierarchical layers: the layer of Croatian membership in the EU, the layer of the China + 16 framework and, finally, the layer of the bilateral relationship between the Republic of Croatia and the PRC. This reality is also confirmed by the recent statement by Kolinda Grabar-Kitarović, the President of the Republic of Croatia.

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Transfer and Reception of New Institutional Economics: An Example of Two Universities in Serbia

Transfer and Reception of New Institutional Economics: An Example of Two Universities in Serbia

Author(s): Aleksandra Jovanović,Aleksandar Stevanović / Language(s): English Issue: 1/2011

The research "Transfer and Reception of New Institutional Economics: An Example of Two Universities in Serbia"1 was conducted in 2005/2006. In order to achieve the goals of the Serbian team of the DIOSCURI project, the main aim of the case study is analysis of the influence of Western institutions in the light of transfer and reception of new institutional economics in two academic institutions in Serbia: The Faculty of Law (The Department of Law and Economics) of the University of Belgrade, and The Faculty of Management of BK University. The title of the case study illustrates the focus of the entire research: analysis of Western influence, namely transfer and reception of new institutional economics, on the two institutions and possible obstacles caused by old-fashioned stakeholders and informal institutions. Bearing in mind that the Department of Law and Economics is the leader in the reception of the new institutional economics (NIE) in Serbia, the case study will be mostly about it. The Faculty of Management was chosen because of its "greenfield" character and the fact that from its very beginning it followed the experiences of North American universities. The research investigates whether and how the transfer and reception of the Western ideas and economic theory, particularly the NIE, is affected by the difference between an institution with a two-hundred-year tradition and a newly established one. The question is how a traditionalist institution like the Faculty of Law communicated Western economic thought and whether endurance in teaching the exclusively Marxian paradigm up until the 1990s, was an obstacle to the reception of Western economic thought, particularly NIE.

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The liquidity-profitability trade-off in Bulgaria in terms of the changed financial management functions during crisis

Author(s): Evgeni Raykov / Language(s): English Issue: 1/2017

The analysis evaluates the basic functions of modern financial managers and important aspects related to their roles in the business environment. In consideration of the global changes within the economic and financial system after 2007, the role of financial managers in corporations significantly changed. This has happened with the increasing number of functions they perform and with extending the influence of the financial manager on almost all other areas of activity within companies - trading, logistics, property management, production and technology through changing highlights and guidance on financial policies, changes in the scope of activities and time determination of the decisions taken. The analysis points at the increasing role of liquidity management in times of crisis and its effect on maximizing company’s results. The effective financial performance should guarantee a minimum impact of liquidity decisions on profitability and wealth. Empirical tests for the Bulgarian economy in crisis showed weak but clearly negative relationship between controllable liquidity and operational profitability in long term. Moreover, the volatility of liquidity remains relatively low and poorly related to the considerable variations in profitability. Contrary to that, the liquidity is not significantly influenced by the capital gains due to the instable profitability for the analysed period.

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Економска анализа пропорционалне одговорности

Author(s): Aleksandar Mojašević,Dejan Janićijević / Language(s): Serbian Issue: 2/2013

Subject matter of this paper is the efficiency of proportional liability in relation to other forms of liability. For this purpose the standard economic models developed in the American theory of Economic Analysis of Law (EAL) are used. Based just on the economic arguments, the authors wish to determine whether there is justification for the regulation of proportional liability in our legal system on the basis of certain solutions of the so-called Principles of European Tort Law (Principles). The first part of the paper deals with the economic implications of proportional liability in relation to other forms of liability, with an emphasis on the efficiency of proportional liability in case of uncertainty over causation. The second part analyzes the solutions in the Principles and the Serbian Code of Obligations in the case of alternative causation, and judicial practice in Serbia and the USA relating to this form of liability. In conclusion, the authors argue in favor of regulation of proportional liability in Serbian law on the basis of some innovative solutions in the Principles.

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Енергетска безбедност Косова и Метохије

Енергетска безбедност Косова и Метохије

Author(s): Željko Jović / Language(s): Serbian Issue: 2/2017

It is beyond doubt that the area of Kosovo and Metohija abounds in certain important energy resources, notably, the lignite and, to a lesser extent, hydroelectric power. On the other hand, there is no oil, and the gas infrastructure is in very early stages of development. Any effort to compensate for this lack of oil and gas, and/or counter the adverse impact that the coal usage has on the environment, both of which could be ensured by switching to the renewable energy sources (primarily, solar, but also the wind power, hydropower, biomass and waste) is still in a distant future. The Republic of Serbia should focus its full attention on the energy security of Kosovo and Metohija, not only because this is a part of its territory which it legitimately considers its own, but also mindful of the background of complex inter-ethnic relations between the Serbs and Albanians, the presence of two system, Serbian and Albanian – the latter supported by a portion of influential international subjects – as well as of the fact that energy security of Kosovo and Metohija can significantly affect the energy security of the Republic of Serbia, both positively and adversely. Despite the many unresolved questions and controversies, stemming from the diametrically opposed views held by Belgrade and Pristina on the issue of the status of Kosovo and Metohija, which certainly neither side would be willing to modify in the foreseeable future, it can be concluded that there is room for joint action taking. The very position of Kosovo and Metohija (both geographic and strategic) carries great regional importance, given the unequivocal commitment of all countries in the region to acceding the European Union. One of the preconditions for this is integrating within the EU energy sector, which certainly holds a great advantage in these obscure times of energy resource shortages, coupled with constant threats of disrupting of stable energy supply and the variability of energy prices, all a ramification of political upheavals in certain important parts of the world, especially those rich in energy resources. Gasification of the region is a necessity and a basic need. It is quite certain that all countries in the region, including the Republic of Serbia, will be a part of a single gas market, and that this will happen in the near and foreseeable future. Whether, by some miracle, construction of the “South Stream” would continue, or whether its function would be achieved through another pipeline (e.g. the “Turkish Stream”) is less important. What is certain is that one of the major gas pipelines would reach the Balkans, and pass through some of the Balkans countries while avoiding others. However, it is likely that all will be able to connect directly, or indirectly, provided they rely on the smart energy policies, ensure timely construction of the necessary infrastructure and a timely implementation of the interconnector project,38) all for the purpose of achieving a higher level of energy security. The energy ties between Central Serbia and Kosovo and Metohija are as self-evident as our shared future. It is up to us to decide how we intend to build this future. Would it be through strife and instability, inevitably following in the wake of every conflict, or through cooperation and at least a minimum of understanding for the shared interest, putting aside our differences, including even our divergent positions on the status of Kosovo and Metohija?

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THE POWER OF TRADE COSTS OVER INTERNATIONAL TRADE: CAUSALITY ANALYSIS IN FREQUENCY DOMAIN FOR TURKEY

THE POWER OF TRADE COSTS OVER INTERNATIONAL TRADE: CAUSALITY ANALYSIS IN FREQUENCY DOMAIN FOR TURKEY

Author(s): Halil Şimdi,Hakan Tunahan / Language(s): English Issue: 2/2016

The purpose of this paper is to find out the relation between foreign trade of Turkey and international trade costs (international commodity prices, transportation costs and exchange rate) by finding causality relations according to monthly time period. The data of our paper were taken from Central Bank of the Republic of Turkey (CBRT), United Nations Conference on Trade and Development (UNCTAD) and Bloomberg Markets database. The sample consists of 12 years in the period 2004:01 - 2015:12. We employ frequency domain Granger causality analysis that allows to short-run and long-run causality. The estimation of causality relation in frequency domain reveals that international trade costs could not be seen as causality indicator for international trade of Turkey except international commodity costs. Besides, causality relation between international commodity prices and import has been observed as of 4th month according to results. Therefore, the test results may draw new international trade strategies of Turkey.

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