Template-Type: ReDIF-Article 1.0 Author-Name: Andrew Cumbers Author-X-Name-First: Andrew Author-X-Name-Last: Cumbers Title: A tale of two nationalisations: experiences of post 1945 public ownership in the UK and France compared Abstract: As public ownership comes back into fashion following the failings and growing contradictions of neoliberal processes of marketisation and privatisation, it is important to learn the lessons for public policy from earlier processes of nationalisation. In this article, I compare the post 1945 experiences of nationalisation in the UK and France. Both countries underwent sweeping processes of nationalisation in the aftermath of the Second World War amidst a broader international shift towards a more state driven model of economic development under capitalism. However, the two experiences of nationalisation diverged considerably, reflecting underlying differences in past forms of economic development, the different balance of class forces and the integration of each country into the broader global economy. The article suggests that these experiences remind us of the importance of a variegated perspective on the evolution of capitalism, distinctive political-economic trajectories and situating major policy shifts in time and space. Journal: Int. J. of Public Policy Pages: 5-20 Issue: 1/2 Volume: 15 Year: 2019 Keywords: public ownership; nationalisation; post 1945 experiences; UK; France. File-URL: http://www.inderscience.com/link.php?id=99047 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:5-20 Template-Type: ReDIF-Article 1.0 Author-Name: Dag Detter Author-X-Name-First: Dag Author-X-Name-Last: Detter Author-Name: Stefan Folster Author-X-Name-First: Stefan Author-X-Name-Last: Folster Title: The potential of state commercial property: mapping and managing non-financial public assets Abstract: Most countries' public assets exceed their public debt. While managing public debt has become a matter of great concern during the financial crisis, public assets remain opaque and largely ignored. This article provides some explorative calculations on the size of public wealth at the national level and for some example cities. We describe how some countries and cities are experimenting with institutional setups, such as national and urban wealth funds, aiming to achieve sounder management, better economic outcomes and more transparency for voters. Journal: Int. J. of Public Policy Pages: 111-124 Issue: 1/2 Volume: 15 Year: 2019 Keywords: public ownership; public assets; public debt; national wealth fund; urban wealth fund. File-URL: http://www.inderscience.com/link.php?id=99048 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:111-124 Template-Type: ReDIF-Article 1.0 Author-Name: Joe Guinan Author-X-Name-First: Joe Author-X-Name-Last: Guinan Title: Socialising capital: looking back on the Meidner plan Abstract: The radical 'Meidner Plan' for wage-earner funds in Sweden in the mid-seventies was one of the most promising roads not taken by the European left in the second half of the twentieth century. Had it been implemented in full, it could have marked a major shift within social democracy from income redistribution to asset redistribution, thereby setting course for an inexorable transition to economic democracy through the gradual socialisation of all major industry. Today, the genesis and fate of the wage-earner funds can provide a valuable historical perspective on the challenges of democratising wealth, while the core components of Meidner's innovative proposal - the share levy and collective ownership of capital - are once again up for reconsideration and recovery in the programme of the Jeremy Corbyn-led British Labour Party, given yawning inequality and a widespread and growing sense of the need for a very different pattern of political economy. Journal: Int. J. of Public Policy Pages: 38-58 Issue: 1/2 Volume: 15 Year: 2019 Keywords: Meidner plan; wage-earner funds; social democracy; public ownership. File-URL: http://www.inderscience.com/link.php?id=99049 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:38-58 Template-Type: ReDIF-Article 1.0 Author-Name: Dieter Helm Author-X-Name-First: Dieter Author-X-Name-Last: Helm Title: The ownership and funding of natural capital: the case for trusts and a public natural capital fund Abstract: Unbridled depletion of renewable and non-renewable resources is a direct threat to both the natural capital inherited by future generations and to economic growth. If depreciation of renewable natural capital has breached critical thresholds and if there is a strong intergenerational equity argument in favour of spreading the benefits from depletion of non-renewable over current and future generations, how do we ensure that intergenerational transfers are made? This paper looks to existing structures such as sovereign wealth funds and trusts as a framework for protecting assets and proposes the establishment of an economically efficient natural capital fund, which would receive the economic rents from the depletion of non-renewable resources, plus compensation for damage caused to existing renewable. The paper also considers how such a fund can be protected in terms of its legal structure, governance and, crucially, its ownership of the natural capital assets it seeks to conserve. Journal: Int. J. of Public Policy Pages: 125-135 Issue: 1/2 Volume: 15 Year: 2019 Keywords: biodiversity; fund; intergenerational equity; natural capital; nature; non-renewable; ownership; renewable; sustainability; trust. File-URL: http://www.inderscience.com/link.php?id=99050 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:125-135 Template-Type: ReDIF-Article 1.0 Author-Name: Stewart Lansley Author-X-Name-First: Stewart Author-X-Name-Last: Lansley Author-Name: Duncan McCann Author-X-Name-First: Duncan Author-X-Name-Last: McCann Author-Name: Steve Schifferes Author-X-Name-First: Steve Author-X-Name-Last: Schifferes Title: The case for citizens' wealth funds Abstract: Citizens' wealth funds (CWFs) can be a key tool in tackling the growing disparity of wealth between the public and private sector and helping improve inter-generational fairness. They can also be a powerful pro-equality force. Such funds would be commercially managed and independently run, but held in trust for the public, with the dividends but not the capital used for social purposes. Some governments (including Singapore, Alaska, Australia and Norway) have successfully built up large funds, using the proceeds of natural resource extraction or privatisation. Getting public buy-in is the key to the success of such funds - and some of the most successful hypothecate the revenues to specific aims, for example a citizen's annual dividend (a kind of basic income) or to pay government pensions. Journal: Int. J. of Public Policy Pages: 136-152 Issue: 1/2 Volume: 15 Year: 2019 Keywords: citizens' wealth fund; CWF; sovereign wealth fund; basic income; public wealth; public sector assets; North Sea oil; inequality; inter-generational equality; privatisation; Australia's future fund; Temasek. File-URL: http://www.inderscience.com/link.php?id=99051 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:136-152 Template-Type: ReDIF-Article 1.0 Author-Name: Martin O'Neill Author-X-Name-First: Martin Author-X-Name-Last: O'Neill Author-Name: Stuart White Author-X-Name-First: Stuart Author-X-Name-Last: White Title: James Meade, public ownership, and the idea of a citizens' trust Abstract: James Meade argued that public ownership of productive assets should have a central role in a 'liberal socialist' economy. While somewhat sceptical of the state seeking to run specific firms or industries, Meade argued that the state should own a significant share of a society's productive assets, using the return on the assets to promote a more equal distribution of income (e.g., through payment of a universal social dividend). This paper traces the development of Meade's thinking around this citizens' trust concept; explores its influence in UK policy discussions; and makes the case for the continuing relevance of the proposal in response to contemporary economic developments. Journal: Int. J. of Public Policy Pages: 21-37 Issue: 1/2 Volume: 15 Year: 2019 Keywords: public ownership; social wealth fund; sovereign wealth fund; socialism; liberalism; inequality; Meade; Rawls; ownership; justice. File-URL: http://www.inderscience.com/link.php?id=99052 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:21-37 Template-Type: ReDIF-Article 1.0 Author-Name: Apostolos Vlachogiannis Author-X-Name-First: Apostolos Author-X-Name-Last: Vlachogiannis Title: The Greek experience of privatisation through the Hellenic Republic Asset Development Fund Abstract: The goal of this article is to shed light on the ambiguous role of the Hellenic Republic Asset Development Fund (HRADF) and show that the privatisation program devised is inextricably linked to the bailout agreements signed between Greece and its lenders. The HRADF was established in order to carry out a vast program of privatisation in order to generate revenue and create the conditions for economic development. However, because of the pressure exercised both by the lenders and financial necessities, it has lacked to a certain extent democratic accountability and transparency. For the same reason, although constitutional limits on privatisation have indeed been recognised in theory, courts have been reluctant to block any specific privatisation. It is important to note that the creation of the new super-Fund seems to exacerbate these deficiencies by placing almost all important assets of the State under the supervision of the lenders. Journal: Int. J. of Public Policy Pages: 76-91 Issue: 1/2 Volume: 15 Year: 2019 Keywords: Greece; privatisation; Hellenic Republic Asset Development Fund; HRADF; Hellenic Corporation of Assets and Participations; HCAP; Greek Constitution; super-Fund; constitutional limits of privatisation; Greek Council of State; law 3986/2011; public property; state assets; bailout agreements. File-URL: http://www.inderscience.com/link.php?id=99053 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:76-91 Template-Type: ReDIF-Article 1.0 Author-Name: Louise Haagh Author-X-Name-First: Louise Author-X-Name-Last: Haagh Title: Public state ownership within varieties of capitalism: regulatory foundations for welfare and freedom Abstract: In this paper I argue public state ownership - the extent the public 'owns' the state through mechanisms of inclusivity and exclusivity in governing - can help explain divergent public policy and human development outcomes across varieties of capitalist state. An upshot is to question the neutralist premise of the varieties of capitalism (VOC) literature that different systems are equally effective. I maintain more attention ought to be paid to background factors that explain how public sector traditions that are more responsive to collective interests in human development-protective institutions generate conditions for policy coherence. I argue modalities of human development - or human economy - generate constraints on governing which entail that human development-sensitive institutions and policies are more effective. Examining contemporary punitive welfare-to-work regimes, I argue variation in public state ownership explains a more directly punitive orientation in Britain, and a more contained and 'educative' design and implementation, in Denmark. Journal: Int. J. of Public Policy Pages: 153-186 Issue: 1/2 Volume: 15 Year: 2019 Keywords: public ownership; public state ownership; PSO; varieties of capitalism; VOC; welfare state typology; welfare conditionality; human development governance. File-URL: http://www.inderscience.com/link.php?id=99056 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:153-186 Template-Type: ReDIF-Article 1.0 Author-Name: Marjorie Kelly Author-X-Name-First: Marjorie Author-X-Name-Last: Kelly Author-Name: Thomas M. Hanna Author-X-Name-First: Thomas M. Author-X-Name-Last: Hanna Title: Democratic ownership in the USA: a quiet revolution Abstract: A quiet ownership revolution is underway in the USA, one that holds tremendous promise for a new age of economic, social, and environmental justice. The old trio of conventional public, private, and non-profit ownership forms is no longer adequate to encompass the evolution and hybridisation of institutional forms currently underway. This paper offers a taxonomy of democratic ownership models, an exploration of new innovations emerging, and observations on how these models might be scaled up to create an economy of enduring, broadly enjoyed prosperity. Journal: Int. J. of Public Policy Pages: 92-110 Issue: 1/2 Volume: 15 Year: 2019 Keywords: democratic ownership; models; design; cooperatives; worker ownership; public ownership; USA; social enterprise. File-URL: http://www.inderscience.com/link.php?id=99057 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:92-110 Template-Type: ReDIF-Article 1.0 Author-Name: Andrew Purves Author-X-Name-First: Andrew Author-X-Name-Last: Purves Title: Models of fair public ownership: lessons from Singapore and Hong Kong Abstract: The question of public as opposed to private ownership is often cast as ideological or one of economic efficiency. Here, the question will be asked as to whether there are particular assets which should remain in public ownership due to the nature in which their value is created. Viewed in this way, the same public assets can in turn be used to deliver public revenue in a way that does not deter their use - as the revenue arises from economic rent. Examples from Hong Kong and Singapore are used to illustrate their effectiveness in delivering social as well as economic benefits. Journal: Int. J. of Public Policy Pages: 59-75 Issue: 1/2 Volume: 15 Year: 2019 Keywords: public revenue; land rent; fair public ownership; land value tax; land lease sales; self financing infrastructure; Mass Transit Railway; MTR; Housing Development Board; HDB; Singapore; Hong Kong. File-URL: http://www.inderscience.com/link.php?id=99060 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:1/2:p:59-75 Template-Type: ReDIF-Article 1.0 Author-Name: Joby Philip Author-X-Name-First: Joby Author-X-Name-Last: Philip Author-Name: Devi Soumyaja Author-X-Name-First: Devi Author-X-Name-Last: Soumyaja Title: Workplace diversity and inclusion: policies and best practices for organisations employing transgender people in India Abstract: Policies and best practices are suggested based on the viewpoints of transgender employees, human resources managers in charge of diversity and inclusion, and activists who work for the welfare of transgender people. Fifteen people were interviewed in depth and their responses were analysed to obtain insights into transgender employees' perception of well-being in the workplace, which will help organisations to develop appropriate human resource policies to protect the rights of their transgender employees in the workplace. Journal: Int. J. of Public Policy Pages: 299-314 Issue: 3/4 Volume: 15 Year: 2019 Keywords: transgender employees; non-discriminatory workplace; workplace diversity; diversity and inclusion; transgender; policies; diversity management; job discrimination; LGBTQ; India; sexual minorities; place. File-URL: http://www.inderscience.com/link.php?id=103011 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:299-314 Template-Type: ReDIF-Article 1.0 Author-Name: Erwan Agus Purwanto Author-X-Name-First: Erwan Agus Author-X-Name-Last: Purwanto Author-Name: Agus Pramusinto Author-X-Name-First: Agus Author-X-Name-Last: Pramusinto Author-Name: Subando Agus Margono Author-X-Name-First: Subando Agus Author-X-Name-Last: Margono Title: Ensuring the quality of basic service delivery in decentralised local governments through the Minimum Service Standard policy: how does it work? Abstract: This paper discusses the impact of the implementation of Minimum Service Standard (MSS) policy on the quality of basic services district/city governments deliver to their citizenry in Indonesia. One of the expectations of the decentralisation policy, which got underway in 1999 was to contribute to the improvement of the quality of public services. The issuing of Indonesian Government Regulation (GR) No. 65/2005, which outlined guidelines on setting and implementing MSS for all sectoral ministries was very much in line with that process. Study results obtained from a survey of the local government officials attest to the reality that most local governments are yet to implement the 15 MSS set by the 15 sectoral ministries. Some of the factors that have hampered the implementation of MSS include lack of clarity on substance of MSS policy (unclear concept of basic services and MSS; variety of approaches used in various sectoral ministries, such as input, process, output and outcome), and constraints that implementing organisations face (insufficient budget allocation and human resource capacity, unclear functional assignments, and lack of integration of MSS in local government development plans). Journal: Int. J. of Public Policy Pages: 315-338 Issue: 3/4 Volume: 15 Year: 2019 Keywords: Minimum Service Standard; MSS; public service; local government. File-URL: http://www.inderscience.com/link.php?id=103017 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:315-338 Template-Type: ReDIF-Article 1.0 Author-Name: Gökhan Cebiroğlu Author-X-Name-First: Gökhan Author-X-Name-Last: Cebiroğlu Author-Name: Stephan Unger Author-X-Name-First: Stephan Author-X-Name-Last: Unger Title: On the relationship of money supply, consumer demand, demographics and debt Abstract: We show that consumer-based economies tend to suffer from demand saturation after an initial and prolonged period of growth. Saturation triggers a Minsky super-cycle, characterised by high debt, high income inequality and financial instability. We argue that monetary policies such as negative interest rates and yield curve targeting can be effective in combating recessionary conditions in an unsaturated economy, but yield to problems in a saturated economy as misallocations may generate bubbles. We find that maintaining a growth rate which corresponds to the demand growth rate at which consumers replenish their stock of goods, smooth out the business cycle in an unsaturated economy, while technological development and demographic modification is the only possible way to prevent or combat the saturation of an economy. Journal: Int. J. of Public Policy Pages: 187-205 Issue: 3/4 Volume: 15 Year: 2019 Keywords: monetary policy; fiscal policy; inflation; money supply; debt deflation; GDP; T-bills. File-URL: http://www.inderscience.com/link.php?id=103018 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:187-205 Template-Type: ReDIF-Article 1.0 Author-Name: Martin E. Purcell Author-X-Name-First: Martin E. Author-X-Name-Last: Purcell Title: Beyond referendums and 'Austerity': public participation policy enactment in 'new' UK governance spaces Abstract: This article generates new insights into what contributes to the effective enactment of public participation policy. It critiques the implementation of recent public participation policy in the UK, focusing on new local governance spaces created in England by Labour governments (1997-2010), and arrangements subsequently enacted under the Coalition and Conservative governments (2010-2017). It reports on a study conducted in 22 local authority areas in one English region, exploring public participation practices in Local Strategic Partnerships, and again seven years after the policy was rescinded. Power and agency feature in the analysis, which demonstrates how the intended impacts of public participation policy is diluted by complex context-specific organisational, cultural and professional factors. The article presents evidence of citizens' continuing enthusiasm to shape and influence policy, through formal structures and non-traditional processes, and argues that public participation policy during 'austerity' should accommodate the potential for progressive outcomes to emerge from both approaches. Journal: Int. J. of Public Policy Pages: 206-224 Issue: 3/4 Volume: 15 Year: 2019 Keywords: policy enactment; public participation; community development; local governance; UK. File-URL: http://www.inderscience.com/link.php?id=103026 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:206-224 Template-Type: ReDIF-Article 1.0 Author-Name: Sèna Kimm Gnangnon Author-X-Name-First: Sèna Kimm Author-X-Name-Last: Gnangnon Title: Structural economic vulnerability and public revenue performance Abstract: This paper investigates the impact of developing countries' structural economic vulnerability (EVI) on their public revenue performance. Relying on a sample of 126 countries over the period 1996-2013, the empirical analysis suggests that EVI exerts a negative and significant impact on total public revenue. However, this negative impact reflects differentiated impact of the EVI's components (namely, the degree of exposure to shocks and the size and frequency of the shocks) on public revenue performance: exposure to shocks influences positively public revenue, while the size and frequency of shocks exerts a negative and significant impact on public revenue. These results apply also to LDCs. In this context, governments in developing countries and the international community should cooperate to mitigate developing countries' structural economic vulnerability. This would help increase their public revenue performance, which is needed to address development challenges, and reduce in the long-run, their dependence on international development assistance. Journal: Int. J. of Public Policy Pages: 225-247 Issue: 3/4 Volume: 15 Year: 2019 Keywords: structural economic vulnerability; public revenue; developing countries; least developed countries; LDCs. File-URL: http://www.inderscience.com/link.php?id=103035 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:225-247 Template-Type: ReDIF-Article 1.0 Author-Name: Satu Rinkinen Author-X-Name-First: Satu Author-X-Name-Last: Rinkinen Author-Name: Vesa Harmaakorpi Author-X-Name-First: Vesa Author-X-Name-Last: Harmaakorpi Title: Business and innovation ecosystems: innovation policy implications Abstract: The concepts of business ecosystem and innovation ecosystem have become highly utilised in business and innovation studies. However, research on the innovation policy implications of these concepts and the ways ecosystems emerge and evolve is still rather scant. This study utilised a multiple case study approach to study real-life business and innovation ecosystems in an innovation policy context. Based on the case study findings and other empirical data, the key elements of ecosystem-based innovation policy were outlined. Business and innovation ecosystems are strongly self-organising and the role of the public sector is to support their self-renewal capacity. Ecosystem-based policy approach consists of elements such as testing and experimentation culture, funding through public procurement and positive questioning of existing procedures and it crosses the traditional policy boundaries. Adopting the ecosystem perspective in policymaking requires interaction between different policy fields and levels. Journal: Int. J. of Public Policy Pages: 248-265 Issue: 3/4 Volume: 15 Year: 2019 Keywords: business ecosystem; innovation ecosystem; innovation platform; innovation policy; case study. File-URL: http://www.inderscience.com/link.php?id=103038 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:248-265 Template-Type: ReDIF-Article 1.0 Author-Name: Omar Al Farooque Author-X-Name-First: Omar Al Author-X-Name-Last: Farooque Author-Name: Sarod Khandaker Author-X-Name-First: Sarod Author-X-Name-Last: Khandaker Title: National governance and foreign direct investment interactions: international evidence Abstract: The purpose of this study is to investigate the interactions between foreign direct investment (FDI) inflows and national governance indicators on international data. It also examines the impact of international financial reporting standards (IFRS) and the legal systems of sample countries on national governance and FDI. Building on extant literature and applying both OLS and 2SLS approaches on a sample of 173 countries, the empirical evidence confirms two-way interdependence between national governance and FDI in determining each other, which remains valid after controlling for per capita income, regional and country status groups of sample countries. In addition, IFRS and the type of legal system find a significant impact on national governance, but not on FDI. These findings of the study are valuable for individual governments, policy makers and international donor organisations to strengthen national governance indicators in order to attract FDI and improve the accountability and transparency of macro-economic measures. Journal: Int. J. of Public Policy Pages: 266-298 Issue: 3/4 Volume: 15 Year: 2019 Keywords: national governance indicators; foreign direct investment; FDI; international financial reporting standards; IFRS; legal system. File-URL: http://www.inderscience.com/link.php?id=103039 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijpubp:v:15:y:2019:i:3/4:p:266-298