International Economics Commons^™

Behind Russia’S Invasion Of Ukraine: The Clash Of Different Mode Of Capitalism, Nandito Oktaviano, Agussalim Burhanuddin

Global: Jurnal Politik Internasional

This research aims to analyse Russian foreign policy toward Ukraine from 2014 to 2022. It uses a dual logical plural approach from Marxist IR Theory. This approach greatly emphasises the importance of two systemic logics, namely capitalism and geopolitics. Since this approach is used in the realm of foreign policy analysis, contextualisation of the level analysis is needed. In this case, the dual logical plural approach proposes a distinctive description of these levels of analysis. International condition refers to the imperialism of the present world order, domestic factor refers to the development of state capitalism, and actors refer to the …

Never Enough: Eu Military Spending Challenges In The Face Of Open Conflict, Katherine Wallentine

The Journal of International Relations, Peace Studies, and Development

The Russian invasion of Ukraine in February 2022 sent a jolt of tension and anxiety throughout the European Union, as well as the rest of the world. Lawmakers and strategists scrambled to find a suitable response in the immediate aftermath and now, a year later, the conversation continues as to what the best course of action is for the EU. Should it amplify and radically increase its supranational defense budget and if so, how should it accomplish this monumental task? How much of it should fall on the Member States to meet the two percent threshold as laid out by …

A New World Order?: Considering Slaughter’S Notion Of The Disaggregated And Networked State, Darlene N. Moorman

The Downtown Review

This paper briefly explains Slaughter's (2004) argument for the emergence of a new world order defined by a disaggregated and networked state where the relevance of soft power has become all the more critical in conversations of politics and corresponding theory. This transformation (arising in the face of the so-called 'globalization paradox') is considered, exploring (a) what this means for the world system and (b) what concerns it may consequently bring.

Primitive Accumulation And Multinational Corporations: The Evolution Of Dispossession And Exploitation In The Rubber Industry, Matthew Rochat

The Journal of International Relations, Peace Studies, and Development

I examine how the process of primitive accumulation has led to evolving forms of dispossession and exploitation carried out by multinational corporations in the rubber industry. After a brief review of relevant literature, I outline a novel analytical approach to multinational corporations engaged in natural resource extraction, referred to as the Parasitic Extraction Model. I then demonstrate this approach using three case studies. The first, Leopold II’s Congo, showcases the barbaric underpinnings of primitive accumulation in the rubber industry in its crudest form. The subsequent section shifts to the interwar period with Fordlândia in the Brazilian Amazon where I analyze …

‘Vox Populi?:’ Assessing Nato Popularity Relative To Political And Economic Indicators In Selected Member Nations, Zachary W. Cheek

Undergraduate Economic Review

This paper seeks to identify the impact of political and economic conditions on a nation’s popularity/favorability ratings towards North Atlantic Treaty Organization, the world’s most powerful military alliance. It is found that in random-effect models there exists a significant positive relationship between a country’s democratic strength and favorability, as well as a negative relationship regarding unemployment. In fixed-effect models, however, there is slight evidence of a positive relationship with per-capita GDP, as well as negative relationships with the unemployment rate and the trade index. Overall, differences in member-nations largely account for whether democratic or macroeconomic conditions influence support.

India's Development Dilemma, James Pomfret

Journal of Global Awareness

No abstract provided.

Cultural Challenges Of Bluebird Bio Expansion Into Germany, Igor Ban

Journal of Global Awareness

BlueBird Bio is a biotechnology multinational corporation (MNC), with headquarters in Cambridge, Massachusetts, specializing in gene therapy solutions for autoimmune diseases and cancer. The company was recently approved, in Germany, for their new drug Zynteglo for the treatment of betta thalassemia. This approval opened the door for further investment in the European market, starting with the contracting of Apceth Biopharma and purchases of new land and equipment to establish a permanent residence in the country. The opening of the new European headquarters will demonstrate new challenges for BlueBird Bio, as cultural and institutional differences between the host country and parent …

Global Trends In Tobacco Cigarette Use Among Adolescents: Prevalence Of Use And Evidence Based Cessation Interventions, Rejoice Addae, Cheryl Knight, Tamara Pace-Glover

Journal of Global Awareness

Tobacco use remains a global problem, and as a demographic group, adolescents are at a high risk of its adverse effects. In addition, disparities exist in strategies to address tobacco control, particularly among youth from low-socioeconomic backgrounds. The health risks associated with tobacco use provide a compelling reason for all nations to prioritize addressing and regulating its use and providing sustainable funding sources for training healthcare professionals and others under Article 14 of the World Health Framework Convention on Tobacco Control (FCTC). This article has four primary goals: (1) to provide an overview of the 2005 World Health Organization’s international …

Could Deglobalization Kill Transnational Cooperation? A Brief Historical Lesson, Virág Rab

Journal of Global Awareness

The study examines a historical period referred to in the literature as deglobalization. After the First World War, economic nationalism gained ground in some countries, mainly for political reasons, characterized by protectionist economic policies and the pursuit of autarchy/self-sufficiency. There were no international regulations or well-functioning international institutions that would have facilitated economic cooperation. How did those who worked hard to reconstruct the European economy react to this situation? This study presents this through the process of developing an informal network of bankers, and it indirectly highlights some important links between informal networks, globalization, and deglobalization.

Post Hoc...? Renaissance?! A Call For Renewed Solidarity With The Earth -- Our Common Home, Basilio Monteiro

Journal of Global Awareness

No abstract provided.

Notes From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Letter From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

The European Central Bank's Three-Year Long-Term Refinancing Operations (Ecb Gfc), Aidan Lawson

Journal of Financial Crises

The announcement of the three-year Long-Term Refinancing Operations (LTROs) by the European Central Bank (ECB) on December 8, 2011, signaled the beginning of the largest ECB market liquidity programs to date. Continued and increasing liquidity-related pressures in the form of ballooning financial market credit default swap (CDS) spreads, Euro-area volatility, and interbank lending rates prompted a much more forceful ECB response than what had been done previously. The LTROs, using a repurchase (repo) agreement auction mechanism, allowed any Eurozone financial institution to tap essentially unlimited funding at a fixed rate of just 1%. Because the three-year LTROs were so similar …

The Ages Of Globalization: Geography, Technology, And Institutions, Brenda Massetti

Journal of Global Awareness

No abstract provided.

Continued Impact Of International Financial Reporting Standards On U.S. Generally Accepted Accounting Principles, Sylwia Gornik-Tomaszewski, Victoria Shoaf

Journal of Global Awareness

The milestone outcomes of over a decade of close cooperation between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on the convergence of U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) have been highly publicized in the professional media. Great attention has been paid to such joint FASB and IASB projects as accounting for business combinations, fair value measurement, and revenue recognition. The impact of U.S. GAAP on IFRS has also been discussed and highlighted in many professional and academic resources. It should come as no surprise since FASB is …

Preparing Law Students For The Future Of Work, Technology, And Globalization, Tashfeen Ahmad

Journal of Global Awareness

This paper aims to assist lecturers, universities, and their administrators in improving their law degrees. This is in the context of the future of work. This paper will reflect on how to tailor a law degree to improve the employability of students with this degree. This piece emerged as a viewpoint to identify best practices to prepare a law student for better employability. Significant benefits and opportunities can be unlocked if educators apply and incorporate the findings from this piece. Educators should rethink how they deliver law degrees, keeping in mind the emerging trends in their respective job markets. This …

Combatting Covid-19 In Hungary, Marietta Pókay

Journal of Global Awareness

2020 has witnessed an allegedly unprecedented situation by the outbreak of the new coronavirus pandemic. Some countries are hit more harshly by COVID-19 than others, but we all suffer the medical, economic, and social consequences, although to various extent. Hungary does not perform badly in managing the situation. This article briefly describes how Hungary handles the healthcare and economic issues raised by this pandemic.

Music For One World: Moroccan Musical Experience Of Diversity, Fusion, Happiness, Healing, And Peace, Mark Reimer

Journal of Global Awareness

Although steeped in Islamic religion and culture, Morocco is a land of varying influences and histories, including those of the native Berbers, the Moors and Jews driven out of Spain, those who follow the pious Sufi culture of Islamic spiritualism, and the Gnawa slaves who were brought into southern Morocco by Arabs. The music, customs, values, and everyday lives of these disparate peoples continue to not only blend with each other’s but also to fuse Moroccan music and culture with those of Europe, Africa, and America. The influence of Moroccan music continues to play a vital role in shaping contemporary …

Reflections On Globalization From Behind The Closed Quarantined Door, Andrzej Sankowski

Journal of Global Awareness

There are opinions that coronavirus will cause the end of globalization. Using examples of the European Union’s and the United States’ reaction to the pandemic crisis and other factors, this essay argues that the coronavirus will not destroy globalization but transform it into another form. This essay identifies some evolving trends and indicators triggering certain processes and suggests directions and solutions that seem to be emerging. Conditions before and reactions to the pandemic are influencing the process and the outcomes.

Notes From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Letter From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Basel Iii D: Swiss Finish To Basel Iii, Christian M. Mcnamara, Natalia Tente, Andrew Metrick

Journal of Financial Crises

After the Basel Committee on Banking Supervision (BCBS) introduced the Basel III framework in 2010, individual countries confronted the question of how best to implement the framework given their unique circumstances. Switzerland, with a banking industry that is both heavily concentrated and very large relative to the size of its overall economy, faced a special challenge. It ultimately adopted what is sometimes referred to as the “Swiss Finish” to Basel III—enhanced requirements applicable to Switzerland’s “too-big-to-fail” banks Credit Suisse and UBS that go beyond the base requirements established by the BCBS. Yet the prominent role played by relatively new contingent …

Basel Iii B: Basel Iii Overview, Christian M. Mcnamara, Michael Wedow, Andrew Metrick

Journal of Financial Crises

In the wake of the financial crisis of 2007-09, the Basel Committee on Banking Supervision (BCBS) faced the critical task of diagnosing what went wrong and then updating regulatory standards aimed at preventing it from occurring again. In seeking to strengthen the microprudential regulation associated with the earlier Basel Accords while also adding a macroprudential overlay, Basel III consists of proposals in three main areas intended to address 1) capital reform, 2) liquidity standards, and 3) systemic risk and interconnectedness. This case considers the causes of the 2007-09 financial crisis and what they suggest about weaknesses in the Basel regime …

Basel Iii A: Regulatory History, Christian M. Mcnamara, Thomas Piontek, Andrew Metrick

Journal of Financial Crises

From the earliest efforts to mandate the amount of capital banks must maintain, regulators have grappled with how best to accomplish this task. Until the 1980s, regulation had been based largely on discretion and judgment. In the wake of two bank failures, the central bank governors of the G10 countries established the Basel Committee on Banking Supervision (BCBS) and in 1988, the BCBS introduced a capital measurement system, Basel I. The system represented a triumph of the fixed numerical approach, however, critics worried that it was too blunt an instrument. In 1999, the BCBS issued Basel II, a proposal to …

Trump’S False ‘Realism’, Muhammad Ali Baig, Syed Sabir Muhammad

International Bulletin of Political Psychology

Comment from IBPP Editor: One key challenge implicit in this article compromises interactions among formal political science definitions of realism and psychological constructions of realism, materialism, objectivism/subjectivism, empiricism, and idealism.

Authors' Abstract: Foreign policy pivoted upon realist principles has have remained a vital instrument to pursue, achieve, secure and sustain the policy objectives of a state. America being the liberal hegemonic state maintained ‘liberal hegemony’ since the end of the Second World War. Realists intended to adopt a realist foreign policy; however, ideologies like ‘American Exceptionalism’ dominated over the former. President Donald Trump opted for protectionism with the objective of …

Morocco’S Makhzen And The Challenge Of National Development, Zakaria Fatih

Journal of Global Initiatives: Policy, Pedagogy, Perspective

This article explores the question of national development in Morocco considering the institution of the makhzen. It asserts that to adequately assess Morocco’s national development as a post-colonial country, it is necessary to rely on an economic model based in politics rather than in theories exclusively informed by classical and neoclassical economics. Among the key economists called upon to investigate the validity of politics in discussions of national development and income inequality are the following: Simon Kuznets, Thomas Piketty, W. A. Lewis, and the duo Daron Acemoglu and James A. Robinson, all of whom continue a long tradition of economic …

European Banking Union D: Cross-Border Resolution—Dexia Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In September 2008, Dexia Group, SA, the world’s largest provider of public finance, experienced a sudden liquidity crisis. In response, the governments of Belgium, France, and Luxembourg provided the company a capital infusion and credit support. In February 2010, the company adopted a European Union (EU)-approved restructuring plan that required it to scale back its businesses and cease proprietary trading. In June 2011, Dexia withdrew from the government-sponsored credit support program before its expiration date, and in July, the company announced that it had passed an EU stress test. However, just three months later, Dexia wrote down its substantial position …

European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In August 2007, Fortis Group, Belgium’s largest bank, acquired the Dutch operations of ABN AMRO, becoming the fifth largest bank in Europe. Despite its size and its significant operations in the Benelux countries, Fortis struggled to integrate ABN AMRO. Fortis’s situation worsened with the crash of the US subprime market, which impacted its subprime mortgage portfolio. By July 2008, Fortis’s CEO had stepped down, its stock had lost 70% of its value, and it was on the verge of collapse due to a severe liquidity crisis. The governments of Belgium, Luxembourg, and the Netherlands quickly came together and agreed to …

European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

The options available to European governments to respond to a multinational bank in financial trouble have been severely limited since each country has its own unique laws and authority applicable to banks operating within its borders. The Bank Recovery & Resolution Directive (BRRD), which was adopted in 2013 and scheduled to go into effect January 2015, harmonizes rules across EU countries for how to restructure and resolve failing banks. However, the directive would maintain the existing system of individual national resolution authorities and resolution funds. To better secure the Eurozone banks and to compliment the Single Supervisory Mechanism, which was …

European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in January 2011, the European Banking Authority (EBA) has been developing a “Single Rulebook” that will harmonize banking rules across the EU countries. In June 2012, European leaders went even further, committing to a banking union that would better coordinate supervision of banks in the then 18-country Eurozone. A …