Globalization, which is characterized by the escalating mobility of capital, people, ideas and information on a universal scale, has become a sweeping theme in the contemporary world. Tourism and its associated econom...Globalization, which is characterized by the escalating mobility of capital, people, ideas and information on a universal scale, has become a sweeping theme in the contemporary world. Tourism and its associated economic activities are evidently not immune to such a wider context of the world economy. In the past one or two decades, a stable increase has been witnessed in international tourist flows, inter-regional and inter-organizational alliances, and foreign direct investment. These trends are especially prevalent in the developing world, largely because of their pristine nature, di- verse culture, inexpensive goods and services, cheap labours, and other resources. However, it has been cautioned by some scholars, especially those from the Third World countries, that tourism is an industry run by and for the rich, more powerful nations and their corresponding multinational corporations. This article, from the perspective of political economy, supplemented with views from development studies, made a normative analysis on the impacts of the glob- alization of tourism on the Third World destination countries. Specifically, these impacts have been detailed in terms of economic, sociocultural, and ecological domains. It was demonstrated that without appropriate planning and manage- ment, the costs of Third World tourism development may accrue to the extent that its benefits are burned out. To avoid this happening, some suggestions have been made.展开更多
The impact of Polish fiscal policy on economy after accession to the euro area is analyzed in the article. It was found that government spending financed by distortionary taxation affects output in a different way tha...The impact of Polish fiscal policy on economy after accession to the euro area is analyzed in the article. It was found that government spending financed by distortionary taxation affects output in a different way than in case of government spending financed by bonds. Poland's accession to the Economic and Monetary Union will reduce the possibility of increased government spending financed by bonds, which in light of the presented model will greatly reduce the possibility of stimulating the economy through fiscal policy.展开更多
Every bigger economic crisis, as the current one, to separate national economies as well. However, leaves behind a huge material damage to the world economy and such crises remind national authorities of the mistakes ...Every bigger economic crisis, as the current one, to separate national economies as well. However, leaves behind a huge material damage to the world economy and such crises remind national authorities of the mistakes done in the past while creating and running macroeconomic policy and teach them how they should overcome these crises in the upcoming period. The economic growth model of the selected South Eastern European (SEE) economies (Albania, Bosnia, Macedonia, Serbia, Slovenia, Croatia, Bulgaria, and Montenegro) during pre-global economic crisis was based mainly on foreign demand and capital inflows which created big external imbalances in those countries. It was the main reason why those countries were exposed to big vulnerability of external shocks. But, the crisis reshapes the world economic map. Competition on world markets gets new forms and players. The lessons learnt from economic crisis say that there is a need for revising the pre-crisis economic growth model in the selected countries as they are less vulnerable to external shocks. New economic model will enable their long-lasting and more sustainable economic growth in the future. One approach of remodeling their economy is presented in this paper. The main finding of this research is that instead of experiencing external "push" factors for economic growth by the governments, a promotion of internal resources is needed in order to enable "the catching up" process of these countries to continue. But, all those countries are members or candidates for becoming European Union (EU) members. That means there is no room for application on entirely new economy growth model, since those countries have to create economic model which has to be convergent to the EU one. There must be different approaches by individual countries in remodeling their economies. The findings of this survey are intended to remind the policy makers of the selected SEE countries of the mistakes they made before and during the economic crisis and the need and directions for remodeling their economies in the post-crises period that will enable their long-lasting and more sustainable economic growth in the future. The position assumed for this research is interpretative using qualitative methods of research. In order to ensure comparability among results, the proposed methodological design will be multiple-case study research on the selected SEE economies.展开更多
Over the last few years major changes have happened in the region of South-Eastern Europe. They have been significantly determined by the changes in international political relations, and that mirrors economic and pol...Over the last few years major changes have happened in the region of South-Eastern Europe. They have been significantly determined by the changes in international political relations, and that mirrors economic and political interests of some countries. With its 27 member countries and the population of almost halfa billion people, the EU is a significant factor on the world scene. The aim of this paper is to point out that the future of Southeast European countries is, undoubtedly, within the flame of European integration. Moreover, it shows that the EU accomplishes a dominant role in the global economic area. That is also indicated by economic relations of the EU with the South-East European countries, with special regard to Serbia, as it is elaborated in this paper. This paper also examined and compared relations in terms of GDP in South-East European countries, as well as the highest import and export by sectors in relation Serbia--the EU. For the purpose of this research, the information from the world economic data base was used as the parameter of the research, and the information from the relevant financial institutions in Serbia. The main findings showed which countries in the South-Eastern Europe have the highest economic potential, which countries had positive GDP growth rate, the fact that Serbia had export growth of goods and services towards the EU and all the difficulties which followed that export. Finally, taking into consideration all the parameters, it can be concluded that the goal and future of South-East European countries is within the EU integration.展开更多
Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalizatio...Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms (ICSEAD, 2006) have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory (Tran Van Hoa, 2004) is used to develop a simple flexible simultaneous-equation econometric model of Thailand's openness model with its seven major trade partners (ASEAN-4, Australia, the USA, the EU, China, Japan and India). Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications.展开更多
Studies in this article support the peace-building effects of interest similarity, and we have to re-evaluate the current world peace through a new lens of interest. Previous research has informed us that states with ...Studies in this article support the peace-building effects of interest similarity, and we have to re-evaluate the current world peace through a new lens of interest. Previous research has informed us that states with similar security and/or economic interests will experience fewer conflict onsets. This study begins with research treating interest similarity as a "facilitating condition for conflict," and argues that in addition to security interest, capitalist economic policies that lead to the deeper integration of an economy into international markets should be considered one of the ultimate driving forces of peace. By discussing a brief description of bilateral peace in the China-Taiwan dyad, this article concludes that the China- Taiwan dyad has less possibility of encountering military conflict if both governments can maintain similarity in their security interests. Moreover, the author distinguishes different models in capitalist peace theory, which include the free-market and the social-market. Accordingly, this article examines three different prestigious capitalist models: trade, capital openness, and contract-intensive economy as social- market theory. The results suggest that the China-Taiwan case is an appropriate case for the trade (Weede, Economic development, social order, and world politics, 1996) and capital openness models (Gartzke, Am J Polit Sci 51(1): 166-191, 2007). Future studies need to be more aware of the model chosen for capitalist peace on cross-Strait relations.展开更多
文摘Globalization, which is characterized by the escalating mobility of capital, people, ideas and information on a universal scale, has become a sweeping theme in the contemporary world. Tourism and its associated economic activities are evidently not immune to such a wider context of the world economy. In the past one or two decades, a stable increase has been witnessed in international tourist flows, inter-regional and inter-organizational alliances, and foreign direct investment. These trends are especially prevalent in the developing world, largely because of their pristine nature, di- verse culture, inexpensive goods and services, cheap labours, and other resources. However, it has been cautioned by some scholars, especially those from the Third World countries, that tourism is an industry run by and for the rich, more powerful nations and their corresponding multinational corporations. This article, from the perspective of political economy, supplemented with views from development studies, made a normative analysis on the impacts of the glob- alization of tourism on the Third World destination countries. Specifically, these impacts have been detailed in terms of economic, sociocultural, and ecological domains. It was demonstrated that without appropriate planning and manage- ment, the costs of Third World tourism development may accrue to the extent that its benefits are burned out. To avoid this happening, some suggestions have been made.
文摘The impact of Polish fiscal policy on economy after accession to the euro area is analyzed in the article. It was found that government spending financed by distortionary taxation affects output in a different way than in case of government spending financed by bonds. Poland's accession to the Economic and Monetary Union will reduce the possibility of increased government spending financed by bonds, which in light of the presented model will greatly reduce the possibility of stimulating the economy through fiscal policy.
文摘Every bigger economic crisis, as the current one, to separate national economies as well. However, leaves behind a huge material damage to the world economy and such crises remind national authorities of the mistakes done in the past while creating and running macroeconomic policy and teach them how they should overcome these crises in the upcoming period. The economic growth model of the selected South Eastern European (SEE) economies (Albania, Bosnia, Macedonia, Serbia, Slovenia, Croatia, Bulgaria, and Montenegro) during pre-global economic crisis was based mainly on foreign demand and capital inflows which created big external imbalances in those countries. It was the main reason why those countries were exposed to big vulnerability of external shocks. But, the crisis reshapes the world economic map. Competition on world markets gets new forms and players. The lessons learnt from economic crisis say that there is a need for revising the pre-crisis economic growth model in the selected countries as they are less vulnerable to external shocks. New economic model will enable their long-lasting and more sustainable economic growth in the future. One approach of remodeling their economy is presented in this paper. The main finding of this research is that instead of experiencing external "push" factors for economic growth by the governments, a promotion of internal resources is needed in order to enable "the catching up" process of these countries to continue. But, all those countries are members or candidates for becoming European Union (EU) members. That means there is no room for application on entirely new economy growth model, since those countries have to create economic model which has to be convergent to the EU one. There must be different approaches by individual countries in remodeling their economies. The findings of this survey are intended to remind the policy makers of the selected SEE countries of the mistakes they made before and during the economic crisis and the need and directions for remodeling their economies in the post-crises period that will enable their long-lasting and more sustainable economic growth in the future. The position assumed for this research is interpretative using qualitative methods of research. In order to ensure comparability among results, the proposed methodological design will be multiple-case study research on the selected SEE economies.
文摘Over the last few years major changes have happened in the region of South-Eastern Europe. They have been significantly determined by the changes in international political relations, and that mirrors economic and political interests of some countries. With its 27 member countries and the population of almost halfa billion people, the EU is a significant factor on the world scene. The aim of this paper is to point out that the future of Southeast European countries is, undoubtedly, within the flame of European integration. Moreover, it shows that the EU accomplishes a dominant role in the global economic area. That is also indicated by economic relations of the EU with the South-East European countries, with special regard to Serbia, as it is elaborated in this paper. This paper also examined and compared relations in terms of GDP in South-East European countries, as well as the highest import and export by sectors in relation Serbia--the EU. For the purpose of this research, the information from the world economic data base was used as the parameter of the research, and the information from the relevant financial institutions in Serbia. The main findings showed which countries in the South-Eastern Europe have the highest economic potential, which countries had positive GDP growth rate, the fact that Serbia had export growth of goods and services towards the EU and all the difficulties which followed that export. Finally, taking into consideration all the parameters, it can be concluded that the goal and future of South-East European countries is within the EU integration.
文摘Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms (ICSEAD, 2006) have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory (Tran Van Hoa, 2004) is used to develop a simple flexible simultaneous-equation econometric model of Thailand's openness model with its seven major trade partners (ASEAN-4, Australia, the USA, the EU, China, Japan and India). Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications.
文摘Studies in this article support the peace-building effects of interest similarity, and we have to re-evaluate the current world peace through a new lens of interest. Previous research has informed us that states with similar security and/or economic interests will experience fewer conflict onsets. This study begins with research treating interest similarity as a "facilitating condition for conflict," and argues that in addition to security interest, capitalist economic policies that lead to the deeper integration of an economy into international markets should be considered one of the ultimate driving forces of peace. By discussing a brief description of bilateral peace in the China-Taiwan dyad, this article concludes that the China- Taiwan dyad has less possibility of encountering military conflict if both governments can maintain similarity in their security interests. Moreover, the author distinguishes different models in capitalist peace theory, which include the free-market and the social-market. Accordingly, this article examines three different prestigious capitalist models: trade, capital openness, and contract-intensive economy as social- market theory. The results suggest that the China-Taiwan case is an appropriate case for the trade (Weede, Economic development, social order, and world politics, 1996) and capital openness models (Gartzke, Am J Polit Sci 51(1): 166-191, 2007). Future studies need to be more aware of the model chosen for capitalist peace on cross-Strait relations.