Hybrid journal (It can contain Open Access articles) ISSN (Print) 2049-0887 - ISSN (Online) 2049-0895 Published by Inderscience Publishers[450 journals]
Authors:Hemlata Shakya, Shiru Sharma Pages: 109 - 120 Abstract: Brexit is the latest symptom of an international institutional failure to live up to public expectations. It is caused by the perception of unfulfilled participatory governance and lack of problem-solving capacities (immigration and financial crises, changing transnational identities, internal and external security) and it bears the seeds of further disintegration. Brexit has again revealed the lack of (not only institutional, but) mental preparedness of the linear mindset ('sleepwalking into crises') for the international management of disruptive events which will continue to be a regular feature and is becoming the new normality. Diplomacy and its civilising virtues (solidarity, subsidiarity, inclusion of the general public, acceptance of change as opportunity) could provide the practical values for a result-orientated mindset of problem-solving. For Diplomacy as social interaction to be successful in the context of Brexit we need innovative practical initiatives corresponding to public expectations leading to sustainable solutions and providing trust in a functional European Union. Keywords: diplomacy's civilising virtues; diplomacy as social interaction; solidarity; subsidiarity; public support; cohesion; Europe of projects Citation: International Journal of Diplomacy and Economy, Vol. 6, No. 2 (2020) pp. 109 - 120 PubDate: 2020-11-05T23:20:50-05:00 DOI: 10.1504/IJDIPE.2020.111011 Issue No:Vol. 6, No. 2 (2020)
Authors:Israel Dollo Hauwanga, Vito Bobek, Tatjana Horvat Pages: 121 - 138 Abstract: It is no longer just a matter of analysing and discussing the utensils of crypto-currencies and the introduction of block-chain technology in the euro zone. This paper explores the key issues related to data security and cryptographic currencies and block chaining, and reassesses the emergence of the digital central bank currency and the arguments against issuing digital central bank money. This paper also starts from the premise that digital currency can be the vice that spreads the fervour of the euro in inter-cultural transactions and that there is a direct relationship between a nation's currency and culture and its image. The questions for assessing the adequacy of the market infrastructure and the digitalised currencies extend the premonition of arguments about the weaknesses of the euro Central Bank Digital Currencies in an effort to develop a context-specific model for the euro zone. Keywords: crypto-currencies; crypto-assets; socio-cultural factors; cultural change management; decentralised consensus networks; cross-cultural transactions Citation: International Journal of Diplomacy and Economy, Vol. 6, No. 2 (2020) pp. 121 - 138 PubDate: 2020-11-05T23:20:50-05:00 DOI: 10.1504/IJDIPE.2020.111010 Issue No:Vol. 6, No. 2 (2020)
Authors:Jakša Krišto, Ingrid Omerzo, Ivana Zec Pages: 139 - 155 Abstract: Credit unions as one of the prominent examples of mutual or cooperative societies in the financial sector share important tasks ranging from financial intermediation for different affinity groups, fostering financial inclusion and community development to social cohesion. In CEE countries, the mutual and cooperative sector in general and credit unions, as well, are less developed compared to advanced economies. This is due to historical and political reasons but also because of competitiveness in the financial sector, financial integration, regulatory requirements, low level of consumer protection and financial literacy. Low interest rate environment, digitalisation, development of the FinTech sector and demanding regulatory compliance could pose diverse effects on prospects of development of credit unions. The aim of this paper is to discuss development prospects of credit unions in Croatia from the perspective of regulatory changes, contemporary challenges in the financial sector, role in society and consumer perspective. Keywords: credit unions; community development; financial inclusion; digitisation; Croatia Citation: International Journal of Diplomacy and Economy, Vol. 6, No. 2 (2020) pp. 139 - 155 PubDate: 2020-11-05T23:20:50-05:00 DOI: 10.1504/IJDIPE.2020.111017 Issue No:Vol. 6, No. 2 (2020)
Authors:Jakša Krišto, Ingrid Omerzo, Ivana Zec Pages: 156 - 170 Abstract: Recent crises have spurred efforts at reform in specific areas of the European Union, particularly in the domain of economic and monetary union. It is evident that issues linked to the reform of the Economic and Monetary Union are unavoidable in the face of the economic consequences of the Covid-19 crisis. Deep integration among euro-area members calls for higher degrees of mutuality and risk-sharing. The underlying question they face concerns the extent to which the European integration process - as well as the concept of the Economic and Monetary Union in particular - is commensurate with the idea of the community of fate. The Covid-19 pandemic crisis highlights the challenge of effective collective action and its embeddedness in pre-legal and pre-market relationships, which are not contractual in nature. They are social bonds that serve as the foundation for both trust and cooperation. Keywords: community of fate; EMU; euro area; collective action; common good; crisis; interdependence; risk-sharing; solidarity Citation: International Journal of Diplomacy and Economy, Vol. 6, No. 2 (2020) pp. 156 - 170 PubDate: 2020-11-05T23:20:50-05:00 DOI: 10.1504/IJDIPE.2020.111021 Issue No:Vol. 6, No. 2 (2020)
Authors:JakÅ¡a KriÅ¡to, Ingrid Omerzo, Ivana Zec Pages: 171 - 188 Abstract: This study investigates the effects of national and European Union economic diplomacy action on the stock of Greece's Foreign Direct Investment (FDI) held by 22 destination countries. The results indicate the effect of economic diplomacy instruments on the location of Greece's outward FDI vis-à-vis the respective effect of other determinants. The results are tested for differences across countries with different levels of income and for different levels of economic integration. The findings contribute to the debate on the role of economic diplomacy in international business and on the significance of developing a European economic diplomacy strategy. Keywords: European Union; EU economic diplomacy; FDI; foreign direct investment; Greece Citation: International Journal of Diplomacy and Economy, Vol. 6, No. 2 (2020) pp. 171 - 188 PubDate: 2020-11-05T23:20:50-05:00 DOI: 10.1504/IJDIPE.2020.111019 Issue No:Vol. 6, No. 2 (2020)
Authors:Jakša Krišto, Ingrid Omerzo, Ivana Zec Pages: 189 - 203 Abstract: This paper is about the EU banking regulation, which was an important factor in many EU countries contributing to the 2007/2008 financial crisis. Its purpose and value added is to present regulatory weaknesses most relevant for Slovenia. Most notably regarding the absence of rules limiting short-term borrowing on wholesale markets, and procyclical accounting rules which impacted capital adequacy. In the last ten years, the EU banking regulation has been subject to extensive modification. We find the introduction of the Liquidity Coverage Ratio (LCR) was an important improvement. However, the Net Stable Funding Ratio (NSFR) which was designed to address borrowing on wholesale markets is not yet legally binding. Both ratios have a drawback that they may be subject to a cliff effect. Accounting rules were amended with the new accounting standard IFRS 9, but we find that the problem of procyclicality remained. Keywords: EU banking regulation; financial crisis 2007/2008; liquidity; capital adequacy; accounting; IFRS 9; Slovenia Citation: International Journal of Diplomacy and Economy, Vol. 6, No. 2 (2020) pp. 189 - 203 PubDate: 2020-11-05T23:20:50-05:00 DOI: 10.1504/IJDIPE.2020.111022 Issue No:Vol. 6, No. 2 (2020)
Hybrid journal (It can contain Open Access articles)
[450 journals]
