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1951. On Economic Growth in Europe, or, The Uncertain Growth Prospects of Western Countries

Author:
Aleksander Łaszek, Andrzej Rzońca, and Andrzej Halesiak
Publication Date:
11-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
Growth in the European Union since the outbreak of the global financial crisis is slower (1) than before the crisis, (2) than the trend would indicate, (3) than forecast and (4) than in the United States. The factors driving its weakness lie more on the supply side than the demand side. The loss of potential output after the crisis was exacerbated by inequalities from before the crisis; fiscal stimulus from 2007-2009, increasing public expenditure despite the lack of fiscal space; excessive liquidity support for banks; and inflexibility of the market for goods at the moment the crisis broke out. The problems with growth may deepen and become permanent if social support for anti-market parties continues to grow. Extremist parties are supported by divergence among the countries of the “old” EU and the slowdown of convergence in the new member states, as well as tendencies related to inequality, in particular the reduction of households’ mobility between income groups. The 144th mBank - CASE Seminar Proceedings consist of the main paper "On Economic Growth in Europe, or, The Uncertain Growth Prospects of Western Countries" by Andrzej Rzońca and Aleksander Łaszek and the commentary "Economic Growth in Western Europe: The Investment Perspective" by Andrzej Halesiak.
Topic:
Economic growth, Investment, Economic Policy, Macroeconomics, and Trade
Political Geography:
Europe, Western Europe, and European Union

1952. Economic policy and macroeconomic developments in Hungary, 2010-2015

Author:
Gábor Oblath
Publication Date:
09-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The publication "Economic policy and macroeconomic developments in Hungary, 2010–2015" discusses the factors responsible for Hungary’s growth performance. In the 143rd mBank - CASE Seminar Proceedings Gábor Oblath argues that that the factors essentially responsible for Hungary’s growth performance over the last five or six years were mainly exogenous to Hungarian government policy. The acceleration of economic growth observed in 2014 was due to, in particular, exceptionally large transfers from EU funds, which have nothing to do with the government’s so called “unorthodox” economic policy. By contrast, the decline in the quality of the institutional environment of the economy is a direct consequence of both the spirit and the methods of the economic policy pursued.
Topic:
Government, Economic growth, Economic Policy, and Macroeconomics
Political Geography:
Europe, Hungary, and European Union

1953. VAT non-compliance in Poland under scrutiny

Author:
Grzegorz Poniatowski, Jarek Neneman, and Tomasz Michalik
Publication Date:
07-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
Since 2009, despite constant growth in the tax base and only slight variations in effective rates, the trend in VAT revenue in Poland has been reversed, and inflows have become less stable. The ongoing decline in VAT collection and the increase in the uncertainty related to the main component of budget revenues is a very important problem, which in the light of growing budget spending may threaten the stability of public finances. In the new mBank - CASE Seminar Proceedings three experts: Grzegorz Poniatowski, dr. Jarosław Neneman and Tomasz Michalik examine the structure and the causes of the VAT gap as well as the legal context and possible methods of improving VAT compliance at national and European level.
Topic:
Budget, Economic growth, Tax Systems, Fiscal Policy, and VAT
Political Geography:
Europe, Poland, and European Union

1954. The condition of and prospects for the private equity funds market in Poland

Author:
Barbara Nowakowska, Piotr Noceń, Michał Surowski, and Michał Popiołek
Publication Date:
02-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
In the publication, Barabara Nowakowska and Piotr Noceń discuss 'Poland’s Private Equity Market: Current Conditions and Development Prospects', and Michał Surowski and Michał Popiołek describe 'Private Equity From a Bank’s Perspective'.
Topic:
Development, Markets, Financial Markets, Economic growth, Banks, Innovation, and Trade
Political Geography:
Europe, Poland, and European Union

1955. Quo vadis, Ukraine? Is there a chance for success?

Author:
Ivan Mikloš
Publication Date:
01-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
"If I were to say just one thing about Ukraine, I think I would have to stress it is the most underperforming country of all the countries I know. Ukraine has had, and indeed still does have, a lot of potential. In the beginning of 1990s, in 1992 to be precise, Deutsche Bank prepared an analysis of the chances for the former Soviet Union states to be reformed and developed successfully, and according to this analysis, Ukraine had the best chance among them all to be successful. We know that in reality the opposite happened, and Ukraine is in a very difficult situation now. The main reason for this situation is that when at the beginning of 1990s communist countries collapsed, the old system in Ukraine was not replaced by a new one, one of functioning market economy. It was eroded, but not exactly replaced the way it happened for example in Poland, Czechoslovakia, Hungary, and the Baltic states. The country was captured by oligarchs, and a very strange, dysfunctional, and corrupted system was created instead."
Topic:
Development, Economies, Finance, Economic growth, Trade, and Post-Socialist Economies
Political Geography:
Europe, Central Asia, Ukraine, Caucasus, Eastern Europe, and Poland

1956. CP ALL and the Case of Value Web Creation

Author:
Bryane Michael, Christopher Hartwell, and Vladimir Korovkin
Publication Date:
11-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
How should convenience store operators like Thailand’s CP-ALL construct its value chains? What does economic theory teach us about an under – modelled area of management theory (namely value chains)? In this paper, Bryane Michael, Christopher Hartwell and Vladimir Korovkin use a seemingly unrelated economic model analysing Vietnam to tell something about the conglomerates running convenience stores licenses like CP-ALL. They find that convenience stores may not want to raise capital from Thai banks and the Bangkok stock market when labour productivity exceeds capital’s. They also find that inefficiencies inherent in Thai markets may significantly reduce the optimal size of a convenience store operator like CP ALL. These operators may also (counter-intuitively) need to give up a significant share of their profits to “value service providers” when the cost of capital falls. As such, counter to the usual World Bank nostrums, improvements in Bangkok’s stock market and banks may actually hurt firms like CP ALL.
Topic:
Development, Economic growth, Innovation, and Trade
Political Geography:
Asia and Thailand

1957. Odisha Urban Sanitation Policy and Strategy 2017

Author:
Centre for Policy Research
Publication Date:
12-2016
Content Type:
Special Report
Institution:
Centre for Policy Research, India
Abstract:
Over the past four years, the national policy environment and institutional response to sanitation have undergone a substantial change. The launch of the Swachh Bharat Mission (Urban) and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) have catapulted sanitation into the league of priority sectors. In the backdrop of such developments, Housing and Urban Development Department under the Government of Odisha sought to revise the Urban Sanitation Strategy 2011 with the able support from the Centre for Policy Research (CPR) supported by the Bill and Melinda Gates Foundation. The revised Odisha Urban Sanitation Strategy 2017 and Odisha Urban Sanitation Policy 2017 make crucial strides towards the achievement of a Clean Odisha. The purview of the strategy has been expanded to address gaps in the entire sanitation value chain for the management of not only solid waste, but also liquid waste including faecal sludge/septage and menstrual hygiene. The revised strategy is grounded in the principles that have underpinned the Odisha government's efforts so far to provide the people with equitable and safe access to sanitation, along with establishing the most advanced sanitation infrastructure. Over the next ten years, concerned departments will work towards six objectives: (a) achieving open defecation free and (b) open discharge free urban areas; (c) effectively managing and treating solid waste; (d) ensuring that sewage, (e) septage/faecal sludge and liquid waste are safely treated and disposed; and (f) ensuring safety guidelines are followed in physical handling and management of waste. In addition, providing women and girls with safe access to menstrual hygiene has also been included as an objective in the revised strategy.
Topic:
Development, Health, Infrastructure, Governance, Public Policy, and Sanitation
Political Geography:
South Asia, India, and Asia

1958. India’s Reinvigorated Relationship with Africa

Author:
Rani Mullen and Ashish Arora
Publication Date:
12-2016
Content Type:
Special Report
Institution:
Centre for Policy Research, India
Abstract:
The 21st century is witnessing a substantial re-engagement of India and Africa. Though India and Africa have a history dating back millennia, bilateral relations for most of the 20th century were tepid as each focused inward, first on anti- colonial struggles and then on building up their independent countries. However, since the turn of the century India has re-engage with Africa as both experienced significant economic growth and face similar development challenges on their path towards sustained progress. Acknowldeging the importance of mutual cooperation, both India and African countries have been engaging with each other through bilateral and multilateral initiatives, including the Pan-African e-network, India- Africa Forum Summits, such initiatives signal India and Africa's mutual interest in strengthening their relationship and South-South cooperation. Furthermore, in a changing global order where OECD countries are experiencing low growth trends and with the emergence of new multilateral institutions such as the BRICS countries-led New Development Bank, these rising powers are influencing global governance, geoeconomics, as well as the global development architecture. This report analyzes the changing India- Africa relationship, with a special focus on development partnerships between the two regions and the future potential of the relationship.
Topic:
International Relations, Development, Diplomacy, International Cooperation, Bilateral Relations, Geopolitics, and Economic growth
Political Geography:
Africa, South Asia, and India

1959. India: Meeting Energy Needs for Development While Addressing Climate Change

Author:
Radhika Khosla
Publication Date:
12-2016
Content Type:
Special Report
Institution:
Centre for Policy Research, India
Abstract:
India is undergoing structural urban and economic transitions and has set ambitious policy targets to meet its rising energy needs for development. Expanding coal and renewables are two important pillars of this undertaking and, since 2008, climate protection is of increasing concern. India’s international engagements reflect these motivations of both energy security and climate change, where India is increasingly engaging in transfer of clean and efficient energy technologies to developing countries like itself.
Topic:
Climate Change, Development, Energy Policy, Economic growth, and Urban
Political Geography:
South Asia, India, and Asia

1960. The Blind Men and the Elephant: Making Sense of China's One Belt One Road Initiative

Author:
Nimmi Kurian
Publication Date:
12-2016
Content Type:
Special Report
Institution:
Centre for Policy Research, India
Abstract:
China’s One Belt One Road Initiative has virtually been a lightning rod for divisive debate and a polarised narrative since it was announced in 2013. For India, it has been the proverbial elephant in the room, as it awkwardly swings between willful pretence and wishful erasure. The policy brief looks at the clues this initiative could offer on the likely drivers of China’s economic diplomacy in the region. There could be three signals for India to watch out for. A clear pointer is the growing role of domestic determinants in setting the direction and pace of China’s regional economic engagement. Another pointer could be China’s role in shaping and defining Asia’s new institutional financial architecture. Lastly, the initiative could be a signal of how China is likely to engage with the larger questions of benefit sharing, trade-offs and the allocation of risks and burdens in subregional Asia.
Topic:
Diplomacy, International Trade and Finance, Regional Cooperation, Infrastructure, Economic growth, and Soft Power
Political Geography:
China, South Asia, India, and Asia