This study examines the impact of China's special economic zones (SEZs) on land misallocation, primarily using city-level data for China from 2003 to 2018. The findings indicate that establishing SEZs exacerbates land misallocation by over-allocating land to cities, resulting in an average...

We explore the impact of fear on demand for government intervention. Our empirical strategy takes advantage of a unique quasi-experiment: During our survey in Russia, a very popular television program misreported the riskiness of the Covid-19 virus, thereby providing short-term exogenous...

Global financial markets frequently experience extreme volatility, which poses significant challenges in forecasting stock returns, particularly following market crashes. Traditional models often falter under these conditions due to heightened investor sentiment and strong regulatory...

This paper examines the macroeconomic implications of unrealistic optimism, a psychological bias that has been largely overlooked in economic models. While traditional models often link optimism to speculative bubbles and excessive risk taking, this study challenges that view by demonstrating...

This study examines factors influencing full (FP) versus partial (PP) privatization and how markets respond to government control in PP and FP firms. Exploiting China's 2005 NTS reform as a natural experiment, we find that treated PP firms experienced significantly lower post-reform performance,...

Limited research exists on business transformation strategy within the Indonesian banking sector, particularly regarding regional development banks, which play a crucial role in regional economic advancement. This study investigates the drivers of successful business transformation in Indonesian...

In 2016, the IEA and EPICENTER launched the first edition of Dr Christopher Snowdon's 'Nanny State Index', which tries to measure the degree of restrictiveness of paternalistic policies that interfere with personal lifestyle choices in various areas. 'Nanny state' is obviously a pejorative term,...

State directed industrialization in developing countries became a common strategy after World War II. The success of a small number of countries in East Asia added new dimensions to the debates on the role of states in taming domestic and international market forces. However, it soon became...

Purpose - The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return. Design/methodology/approach - The author uses daily data from March 2, 2020, to July 23, 2021. Findings -...

We examine the ways in which political realities shape industrial policy through the lens of modern political economy. We consider two broad “governance constraints”: i) the political forces that shape how industrial policy is chosen and ii) the ways in which state capacity affects...

Formal conceptions of state capacity have mostly focused on indirect measures of state capacity - by, for instance, using the state's fiscal or extractive capacity as a proxy for its overall capacity. Yet, this input or extractive view of state capacity falls short, especially since...

This paper explores the impact of government environmental protection subsidies on corporate green innovation using panel data of listed companies from 2007 to 2019. The results show that such subsidies can significantly promote corporate green innovation, and the results are robust. Financing...

Formal conceptions of state capacity have mostly focused on indirect measures of state capacity - by, for instance, using the state's fiscal or extractive capacity as a proxy for its overall capacity. Yet, this input or extractive view of state capacity falls short, especially since...

On 24 March 2024, presidential elections were held in Senegal, with opposition politician Bassirou Diomaye Diakhar Faye, who was 43 at the time, emerging as the winner. On 2 April 2024, he was sworn in as the fifth President of the Republic of Senegal. This event may mark a turning point in the...

In the wake of the COVID-19 pandemic, the Russian war of aggression against Ukraine and the resurgence of the Middle East conflict, government measures to support the economy have intervened massively in economic activity and thus influenced the real insolvency situation. This situation creates...

Die Zeitenwende nach dem russischen Angriffskrieg auf die Ukraine und die dadurch verschärfte Debatte über wirtschaftliche Sicherheit, strategische Autonomie und kritische Importabhängigkeiten haben zu Recht dazu geführt, dass Staatseingriffe stärker diskutiert werden. Kritische...

The rise of "new economic statecraft"-intervention in trade and investment for foreign policy reasons-is increasingly threatening the stability of the global economic system. Building on previous work, we consider the types of intervention we have seen, classifying state measures as behind the...

Digital economy has been the essential driving force for green development and energy transition, while the role of digital economy in the development of renewable energy remains limited. This paper explores how digital economy development alters renewable energy in China. Based on the panel...

This article presents a theoretical framework for analysing corporate responsibility through the lens of critical state theory, focusing on the dynamic interplay between state and business. Traditionally, corporate responsibility is seen as voluntary corporate actions for public welfare....

This article analyzes the shifts in the global order that occurred in relation to governments' actions and their search for an increased global status within the capitalist global system. Examining the deliberate application of governmental economic interventions, the article examines how Brazil...

Business resilience and government intervention are critical in navigating crises. Guided by resilience theory and concepts of state intervention in global crises, this article examines firm-level strategies to the Covid-19 pandemic. The qualitative findings decipher adaptive resilience and...