International Journal of Public Policy (8 papers in press)
LOCAL COLLABORATIVE NETWORK: Is It Smart Implementer of The Cocoa Business Development Policy In Indonesia?
by Alwi Azis, Rulinawaty Kasmad
Abstract: The main objective of this research is to develop capability of local collaborative network in the implementation of cocoa business development policy in Indonesia.The results of pairing patterns and time series techniques showed that the farmer groups as local collaborative network was unable to carry out the policy effectively. This is due to the fact that the government as initiator did not facilitate them to design operational programs that can increase cocoa productivity. Then, their commitment to the program of Gernas Kakao (Cocoa National Movement) was very low. Therefore, local collaborative network as a place for the all stakeholders in the cocoa business development requires coordination mechanism and commitment among them to design and implement the operational programs of the Gernas Kakao.
Keywords: Local collaborative network; collaborative public policy; policy implementation; cocoa business development.
How Regulation Revived Micro-Lending after the Andhra Pradesh Crisis
by Rajiv Yadav, Winai Wongsurawat
Abstract: This paper provides a chronicle of a major disaster in the Indian microfinance sector, the Andhra Pradesh crisis of 2010, and attempts to derive some important lessons. The key research question is: What were the underlying vulnerabilities prior to the crisis and how did regulation help moderate these weaknesses? Following a case study approach, events before, during and after the crisis are recounted. Industry data coupled with practitioner insight were used to clarify the causes of the crisis and the key regulatory actions taken to help get the microfinance industry back on its feet. A lack of regulatory oversight and political opportunism lead to the tragic events in Andhra Pradesh. Subsequent regulations introduced by the Reserve Bank of India, including caps on the size and number of loans to an individual, and restrictions on loan use resulted in greater outreach by the lenders and better portfolio performances. The successful reforms implemented by the Indian regulators may serve as an example for other countries interested in using microfinance to combat poverty.
Keywords: Andhra Pradesh; micro finance; Reserve Bank of India.
Improving International Policy-Making in the Absence of Treaty Regimes: The International Forestry, Migration and Water Policy Cases
by Michael Howlett, Richa Shivakoti
Abstract: Distinguishing between international regime features and national implementation problems affecting policy effectiveness in many areas of international policy-making is an area of increasing concern to practitioners and academics alike. While many observers have traced problems with existing global governance architectures to deal with contemporary problems to the lack of appropriate treaties at the international level, recent work on regime fragmentation and the interplay between regimes suggests that a lack of a hard law base may be overcome through improved multi-level governance efforts. Much can be learned in this area from sectoral experiences in areas such as water and forestry as well as non-resource areas such as migration where hard law regimes have failed to develop.
Keywords: Global public policy; international regimes; multi-level governance.
The European Unions smart specialisation launch and brand slogan management
by Rauno Rusko
Abstract: This article studies the roots and features of smart specialisation in keeping with the perspectives of brand slogan management. By using the smart specialisation concept in its documents, plans, and regional fieldwork, the European Union (EU) is attempting to be perceived as a growth-efficient organization. This analysis illustrated that smart specialisation is not reserved for the use of the EU only. Rather, the Organization for Economic Cooperation and Development, World Bank, and International Monetary Fund have also, albeit to a lesser degree, used the same concept, thereby demonstrating the power of smart specialisation as a slogan. Smart specialisation seems to be the slogan at the EU level; however, several regions in the EU have followed the principles of the smart specialisation process and have transformed the slogan into more powerful regional brands. Although it is possible to interpret smart specialisation as a slogan, it is also a process in which the EU is the rule maker and gatekeeper for funding innovations and investments in the region.
Keywords: smart specialisation; European Union; brand slogan management; public sector.
Informal Social Protection: A Case Study of a Small Island Economy
by Verena Tandrayen-Ragoobur, Harshana Kasseeah
Abstract: Social protection is gaining importance, especially in small island developing states like Mauritius. The social protection system is well-anchored in the Mauritian economy and is characterised by a generous welfare state. However, there is still a rising need and call for informal social protection. There is a heavy reliance on traditional, informal and non-state social protection systems, which are provided through community, religious institutions and non-governmental organisations. The aim of the paper is to analyse the role of non-governmental organizations and religious groups in providing social aid to vulnerable groups in Mauritius. We first undertake focus group discussions with 8 cultural and religious institutions and second we use data from a survey carried out with 30 non-governmental organisations (NGOs) to analyse the different social security schemes provided. Our results show that informal social protection is very much present in the Mauritian society and while religious groups in general are more inclined to aid the socially excluded population pertaining to their respective religious belief or community group, while non-governmental organizations tend to help the vulnerable groups in general.
Keywords: Informal Social Protection; Social Security; Religious Groups; Non-Governmental Organisations.
Evolution of Micro Prudential Regulators and Macro Prudential Regulators in the Global Financial Regulatory System
by Hiteshkumar Thakkar
Abstract: The global financial integration (GFI) has increased the cross-border capital flow movement but there is an absence of a streamlined Global Financial Regulatory System. Financial inter-linkages have increased the length and breadth of the global financial system. But at the same time, it has also increased financial fragility and vulnerability. The global financial crisis, the Euro crisis, the Chinese stock market turbulence and the United Kingdom referendum on European Union membership have questioned the existence of the global financial regulatory system (GFRS). The global financial regulatory system has been challenged on the grounds of stability and sustainability. Financial Stability Board is responsible for the International Macro-Prudential Regulation and the Micro-Prudential Regulation is monitored by International Standard Setting Bodies (SSBs), international financial institutions (IMF and World Bank) and national financial regulators. The stability and sustainability of the global financial system is the mandate of International Marco Prudential Supervision as stated in Article 2 of the Charter of the Financial Stability Board (FSB). However, FSB does not create any legal rights or obligations towards member nations (Article 23, Charter of FSB). Though FSB is part of the soft law, due to peer group pressure and international goodwill, the member nations are strictly implementing the recommendations or the standards. The institutionalizing of FSB will increase economic efficiency and will incentivize non-FSB members to increase international financial integration. FSB can play a vital role in the global financial regulatory system, but it has to be streamlined in the backdrop of GFI.
Keywords: Global Financial Integration (GFI); Global Financial Regulatory System (GFRS); Macro-Prudential Regulation; Micro-Prudential Regulation.
Koreas Venture Business Policy and Its Implications for Developing Countries
by Yae Jin Lee, Jai S. Mah
Abstract: Recognizing the importance of technological growth, the Korean Government has tried to promote venture businesses through financial and tax incentives as well as infrastructure provision. The number of venture businesses increased rapidly during the mid-2010s. Although the number of M&As has grown, that of venture businesses funded mostly from venture capital remains low, which is a challenge to be addressed. The experience of Korea regarding the venture business promotion policy provides policy implications for developing countries trying to promote venture businesses. Among others, a government policy that relies heavily on large firms may lead to structural problems. Developing countries that lack institutions promoting venture businesses need to introduce and/or strengthen policy measures and institutions such as venture capital, tax incentives, credit guarantee schemes, angel investment, crowdfunding and M&As for exits.
Keywords: developing countries; Korea; policy; venture business.
Overview of Flood Management Actions and Policy Planning in Bangladesh
by Gulsan Parvin, Rezaur Rahman, Kumiko Fujita, Rajib Shaw
Abstract: Flood is a critical issue in Bangladesh. Regular flooding affects 20% of the country, increasing in extreme years. Various measures, policy planning and actions have been taken in different time period. Legislation and policy planning are essential for flood management, which should be guided by distinct policy, strategies, legal frameworks, and action planning. A review of legislative and institutional arrangements is required for effective and sustainable flood management. In this research, the evolution of flood management actions and policies is reviewed considering the related environmental and social changes. The approach to flood management is shifting to a more comprehensive risk reduction effort following environmental changes such as climate change. Extreme floods are increasing. The history of extreme flood management is short compared to that of annual flood management. However, extreme floods have significant impacts. Thus, a holistic approach by all stakeholders is encouraged. This review could help to examine how to increase local involvement in flood control and water management projects.
Keywords: Bangladesh; flood; policy; act; climate change; local participation; disaster risk reduction; flood management; legislation; action planning; review.