• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.11-19
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• 2021

The paper examines the nexus between economic globalization, financial development and institutional reform in India and Sri Lanka during the period 1990-2017. Using the panel ARDL method, the study finds the long-run relationship between financial development, economic globalization, and institutional reforms. From the short-run equation, the study finds the negative and statistically significant impact of economic globalization on financial development in India whereas Sri Lanka has a positive impact of institutional quality on financial development. Then, the study finds no short-run causality between financial development, economic globalization and institutional reforms. However, the study finds bi-direction strong causality between economic globalization and financial development. Further, the study finds uni-directional strong causality from institutional quality to financial development and economic globalization. Moreover, there is an existence of long-run causality between financial development, economic globalization and institutional quality. For the robustness of the results, the study considers the financial market as a proxy for financial development. Then, the study applies the panel ARDL test and find the consistency in the results. The policymakers in India and Sri Lanka should focus on institutional reforms so that it can reap the benefit of economic globalization. In turn, the quality of institutional reforms can thereby lead to financial development.

• STI Policy Review
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• v.4 no.1
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• pp.119-134
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• 2013

The Fukushima nuclear incident of 2011 served as an external shock that prompted Japan to reform its nuclear energy sector. The collusive relationship between the regulators within the Japanese government and the regulated power industry, as well as the lack of institutional independence of the regulatory agency, had derailed Japanese efforts to reform the sector for decades. The Fukushima crisis exposed these deeply-entrenched flaws in the system, causing public distrust and anger toward the government and the nuclear power sector. This paper discusses the institutional reform measures the Japanese government introduced in the wake of the Fukushima crisis to recover public confidence and revamp the sector to prevent future disasters. The paper also discusses the challenges the Japanese government faces on its road to a successful implementation of nuclear sector reforms.

• The Journal of Industrial Distribution & Business
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• v.7 no.1
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• pp.19-25
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• 2016

Purpose - The purpose of this paper is to aim to stress the importance of doing business environment in South Korean economy. The theoretical justification is based on neo-institutional theories and new business management including Porter's Model as main justifications of state intervention due to the market failures to promote a competitive environment of doing business. Research design, data and methodology - The methods to be taken is to provide a comparative performance analysis, and offer in terms of doing business and economic freedom sub-index complemented by Korean reforms diagnostics. Results - The main results underlined the key factors explain the success of business environment in South Korea such as: a simplified registration procedures, a target tax incentives, the removal of business barriers, the improvement of legislative and regulatory framework, target reforms, property right and technical norms, good governance and the quality of institution, a role of a well-functioning legal framework, a strong competition framework, and the transparency of regulation, etc. Conclusion - A competitive environment of doing business is based on the target national strategies, appropriate reforms responding to national needs and good governance system.

• East Asian Economic Review
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• v.17 no.4
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• pp.361-383
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• 2013

We find that institutional quality of an individual country was highly and significantly correlated with its economic performance in the euro area. We argue that governance reforms proposed at present do not suffice to resolving the fundamental problems of the EMU governance system unless disparities of institutional quality in member states are dissolved. Regarding regional integration, East Asia is far behind the Eurozone not only in institutional elements of the governance system but also in institutional quality at the level of individual nations.

• Korean Journal of Legislative Studies
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• v.15 no.2
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• pp.35-65
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• 2009

This paper describes the changes in legislative rules in the U.S. House of Representatives and discusses the roles of legislative rules in public policy making. I argue that much of reform experiences in the U.S. House provide good references by which the National Assembly of the Republic of Korea may follow for its reforms. For this, I summarize primary reforms of legislative rules in the U.S. House and discuss dynamics in power distribution between committees and party leadership. These reforms are then reviewed on the basis of political stability, protection of minority rights, and legislative deliberation.

• Korean Journal of Social Welfare
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• v.44
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• pp.232-261
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• 2001

Because of their international importance, 'the Welfare Reforms' of the Thatcher government as well as Thatcherism were studied so much, and analysed so deeply. However, the existing studies mainly focused the institutional changes of the welfare state themselves and cynically criticized the decline of it. And, there is no study explained the Thatcher's reform as the changed balance of the British class strength. This means that the nature of the Thatcher's welfare reform is not scientifically clarified yet. So, I tried to examine this one again. For the purpose, I reviewed the nature of Thatcherism, described the changed welfare state, and analysed the result of the polling, the power dynamics of the Labour Party, the changed attitude of the Labour Party and the working class to the welfare state and Keynesianism, and the political attack of the Thatcher government on the working class and their response to it.

• 한국사회복지학회:학술대회논문집
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• 2002.10a
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• pp.227-263
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• 2002

The Scandinavian cluster of welfare societies has for many years been considered a realisation of Richard Titmuss' institutional redistributive model of social policy. Recent reforms have, however challenged this assumption. The paper sets out to evaluate whether recent major changes in welfare provision are merely modifying the model or whether the Scandianian states are converging towards some kind of European social model. It is concluded that besides very many first order changes, such as reducing benefits, an number of second and third order changes have occurred; i.e. the institutional setting and the objective of the welfare states have changed during the 1990s. The Scandinavian welfare states are still distinct, but less so than a decade or two ago. The new elements are features usually associated with welfare models at play within the European Union. It is, hence, concluded that welfare in Scandinavia is undergoing a process of Europeanisation.

• KDI Journal of Economic Policy
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• v.41 no.3
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• pp.39-75
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• 2019

An emphasis on public-private partnership (PPP) in the regulatory policy process can overcome the challenges hindering regulatory effectiveness with the emergence of fast developing technologies and new industries. This study attempts to evaluate quantitatively different aspects of institutional settings of South Korean regulatory policy in terms of stakeholder engagement as PPP, using evidence-based data released by the OECD. From the results of the principal component analysis, South Korea can be evaluated as being at a very good level overall in its institutional establishment. Nevertheless, the fact that the outcome of regulatory reforms in South Korea is still insufficient compared with this well-established system suggests that the country should concentrate on improving system operation. Consequently, this study makes policy suggestions to improve regulatory effectiveness through PPP by supplementing the facets that are well-equipped but not feasible with respect to regulatory policy cycle, regulatory governance, regulatory method, and conflict resolution.

• Iberoamérica
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• v.13 no.1
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• pp.41-67
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• 2011

El Salvador had suffered some 75,000 casualties, mostly civilian, from violent civil conflict(1980-92). In 1992, after negotiations, the government and FMLN signed a historic comprehensive peace accord which brought an end to the war and instituted wide-reaching political and social reforms. Many scholars call it as Transitional Justice in El Salvador. Transitional Justice in El salvador has had two identifiable stages. In the First stage, institutional reforms, such as DDR(disarmament, demobilization, reintegration), and a truth commission were implemented. The second phase corresponds to the period subsequent to the truth commission report, with the failure to implement the commission's recommendations, including those related to reparations and justice. This essay explain how was transitional justice in El salvador different from the other cases, and what was the purpose of extraordinary transitional justice in El Salvador. In detail, the first section of this essay examines the history of the civil war and peace process in El Salvador, and then explores the relationships between cold war and transitional justice in El Salvador. Finally, this essay suggests that truth commission's mandate which investigate 'serious acts of violence that have occurred since 1980' was very important role to accomplish peace and transitional justice in El Salvador.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.397-407
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• 2022

The informal economy is a large part of the urban economy. The informal economy accounts for about half of Pakistan's GDP. This research examined nine different areas of Rawalpindi's Central Business District's business sector (CBD). A survey of 404 respondents from 16 CBD marketplaces enables a comprehensive examination of who works in the informal and formal economic sectors, how much they earn, their goals, perception of their job, and their degree of similarity to the rest of the working population. Furthermore, the statistics illustrate the pro-cyclical connections between the informal economic sector and the formal economy. The Multinomial Logistic Regression (MLR) technique is used for the analysis. The MLR results indicated the informal economic sector holds positive relation with earning members in a family, business expertise, average business sale, and negative relation with education level, satisfaction with government tax policies, household expense, and average investment in the business. From a resilience standpoint, governance is considered an intentional collective action to preserve a stable system condition. Hence, the current study recommends tax reforms and government institution reorganization to mobilize the informal sector and make effective institutional governance.