Most discussions of the Greek debt overhang have focused on the implications for Greece. We show that when additional funds released to the debtor (Greece), via debt restructuring, are used efficiently in pursuit of a practicable business plan, then both debtor and creditor can benefit. We examine a dynamic two country model calibrated to Greek and German economies and support two-steady states, one with endogenous default and one without, depending on creditors’ expectations. In the default steady state, debt forgiveness lowers the volatility of both German and Greek consumption whereas demanding higher recovery rates has the opposite effect. In a second order approximation of the model, conditional welfare analysis shows that a policy of immediate leniency followed by harsher terms as the economy grows is beneficial to both creditors and debtors.
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Charles A.E. Goodhart, M. Udara Peiris and Dimitrios P. Tsomocos
Fear of freedom, of which its possessor is not necessarily aware, makes him see ghosts. Such an individual is actually taking refuge in an attempt to achieve security, which he prefers to the risks of liberty. (Freire, 1974: 20)
This chapter looks at the links between devolution and inclusive growth by suggesting a need to bring third and voluntary sector organisations into processes of devolution and city region building. Based on a study of the Greater Manchester Voluntary, Community and Social Enterprise (VCSE) Devolution Reference Group it discusses four key drivers that can position the sector as an appropriate interface through which a more inclusive economy might be delivered: one, the need for inclusive governance; two, addressing issues related to operational scales and modes of representation; three, probing on how inequality hinders growth; and fourthly, the need to harness the multifaceted thinking and social innovation of VCSE in order to deliver inclusive growth. In the context of ‘inclusive growth’, the chapter suggests the need for a stronger acknowledgement of civil society, alongside business and the public sector, in the devolution processes associated with the new new localism.
Zsuzsa A. Ferenczy
Rule of law, democracy and human rights are at the heart of Europe’s development policy regarding Africa. Development is therefore an ideal policy area for a comprehensive assessment of Europe’s normative power effectiveness. The core of China’s development policy in Africa is fundamentally different, stressing equality, win-win cooperation and sovereignty. As a result, practical cooperation with Europe remains a distant goal only. Europe’s democratization objectives keep it at a distance from China’s business-like approach to economic development. They both defend their models as the right one to benefit the people of Africa. The identification of common interests has helped finding common ground for cooperation in peace and security. This however has not ensured normative convergence. Europe’s effectiveness therefore remains limited. At the same time, Europe must make sure it continues leading in development cooperation in order to protect its power of example from the negative effects of the crises.
Pan Suk Kim
Today, East Asia has one of the most successful economies in the world; arguably, public administration as a practice, as well as a discipline, has played a pivotal role in the development of this region. However, not much literature is available on this topic. Accordingly, this paper first discusses East Asian development models and, subsequently, the civil service entrance examinations as an East Asian model of bureaucratic recruitment and selection. This is followed by a discussion on the development of modern public administration in three dimensions (i.e., practice, education, and research) and, then, the major issues of and challenges faced by public administration in China, Japan, and South Korea.
This chapter is concerned with the links between the new new localism, devolution, and the depoliticisation of local and regional economic development. This chapter suggests that ‘post-political’ approaches downplay or ignore forms of crisis management, governance failure and state failure, and the way state policies and institutions are sites themselves of political mobilisation and conflict. It contends that the state should continue to be seen as a productive arena for performing politics and offers a grounded focus on politics and struggles of economic development in city regions. The chapter traces the localisation of welfare and the new geographies of austerity, alongside the evolving and more media-friendly devolution of skills and other employment initiatives. Returning to the Sheffield city region and the strategic shifts in governance and politics embraced by devolution, it explores the politics of welfare reform and employment policy: undertaking this analysis against a backdrop and context of social inequalities and austerity policies, identifying and analysing emerging social struggles and their conflicts.
This chapter is concerned with the dynamics of new new localism and devolution. It follows the development of city regionalism through these different discourses and unfolding City Deals in Manchester and Sheffield, in the context of the Northern Powerhouse, questioning the effectiveness of this as a coordinating framework for local and regional economic development. Within a language of localism, devolution and austerity, the chapter looks at how civil society actors have sought to deal with city regional development approaches and the new governance structures. The chapter firstly considers how austerity has impacted on these processes. Secondly, by focusing on the positioning of civil society actors, it highlights how city regionalism and the Northern Powerhouse, more broadly, raise serious queries around developing notions of ‘inclusive growth’.
Liliane Carmagnac, Valentina Carbone and Valérie Moatti
This chapter presents how the sustainable supply chain management (SSCM) literature has dealt with the diffusion of sustainability, predominantly through the focal firm perspective and the triple bottom line (TBL) paradigm, yet producing interesting ideas, models and guidelines to inspire companies to engage in the sustainability journey. The authorshighlight: (1) the different actors involved in SSCM; (2) the drivers, enablers and barriers of SSCM diffusion, by proposing an integrative framework; and (3) how alternative theoretical lenses have been used and can still be helpful in shedding light on some specific mechanisms and dynamics of SSCM diffusion. Afterwards, in light of recent calls for a renewal of approaches in the SSCM field towards a more holistic approach, and the pursuit of ‘true sustainability’ objectives, the authorsopen new research avenues, emphasizing the interest and benefits of departing from the focal firm and the instrumental logic perspective and adhering to new paradigms in studying SSCM diffusion.
Mathieu Winand and Christos Anagnostopoulos
In this concluding chapter, the editors bring together, in a summative manner, some of the important research directions that have been put forward by the contributors in this Handbook. This chapter, hence, calls for further research into the following areas: sport governance models and indicators; ethically and socially responsible sport governance; institutional sport governance; sport governance practices towards effective collaboration, relationships, and networks; sport event governance; sport business governance; and sport board composition and dynamics.
A foreign investor which operates in the country of destination through a PE or separate corporate vehicle (and also when there is isolated income) is often confronted with disputes involving the tax authorities of either CS. This chapter focuses on the the main aspects that need to be considered in respect to dispute settlement and enforcement, first, by discussing the mutual agreement procedure (section I), then by looking at how transfer price allocation is managed in tax treaties (section II), and finally discussing the relevance of information in tax treaties (section III).