NICHE TOURISM IN SOUTH AFRICA: A RENEWED POLICY FOCUS IN THE COVID-19 ENVIRONMENT

The COVID-19 pandemic is a catalyst for new patterns of demand and supply for the tourism sector. One consequence is a renewed policy interest in the importance of niche tourism products for destination development. This paper investigates the importance of niche tourism and its (re-) emergence on the policy agenda of tourism stakeholders in South Africa. It is argued that with a resurgence of niche tourism as policy focus there is a need for an extended research agenda on niche tourism in South Africa. The analysis represents a contribution to the changing agendas of tourism scholarship in the global South which have been impacted by the COVID-19 pandemic.

Transmission of Monetary Policy through Credit Interest Rates in Turkey: A Microeconomic Perspective

This study aims to examine the monetary policy transmission through the credit channel from a microeconomic perspective by using the fixed effect dynamic panel model. It is estimated to what extent policy interest rate changes are transferred to the short-term interest rate depending on the type of loan. Results confirm that there is a high degree of inertia in both the commercial and consumer loan interest rates. In terms of the transmission of monetary policy, changes in policy interest rates are transferred to commercial loan interest rates by 11% and consumer loan interest rates by 15% in the short term. These values reveal that policy interest rate changes are gradually transmitted to market interest rates. Variables representing bank size, leverage, and market power in terms of distinctive characteristics have a limited impact on both commercial and consumer loan interest rates in the analyzing period. However, the market share of a bank has a significant impact on both commercial and consumer loan rates.

The Impacts of Government Spending and Monetary Policy Rate in Indonesia

This study reviews the impacts of government policies on the economy. The period of analysis starts from early banking sector reform until the current Covid-19 pandemic crisis. We apply Vector Error Correction Model based on the theory of money demand and inflation to analyze the relationships among income, inflation, money balance, government spending, and policy interest rate. The impacts of money balance and policy interest rate on income are as predicted by money demand. Financial sector growth and different expectation on inflation affect the efficacy of monetary policy. On the other hand, government spending might not be fully growth-enhancing. The need emerges to classify and distinguish the classes of government spending which increase growth.

The Janus Face of Agricultural Policies, Kisans and Sethias: Local and Global

Indian agriculture is at a crossroads. We can plan out the phasing of reforms or force the pace and mess up the process. The Supreme Court had taken a practical stand on the Farm Trade Laws—implement them after consultation and with a well-defined framework spelt out. They had also appointed an expert amicus curiae. But this was not acceptable to the agitating farmer organisations in view of the stated views the experts had. It is possible that experts can re-examine their position as the Court said, but not highly probable. So going back to direct negotiations led to the stand the government has taken of holding the laws in abeyance for a year or a year-and-a-half. This will provide time for discussion of the details of agricultural reform which was needed since the laws were passed in a hurry on a single day. To begin with, it has to be understood that in a continental country one-size-fits-all will not work. The policy bind India is in is therefore a difficult one, even if the arguments are not ideologically anti-trade or those that lack policy interest. If a feasible alternate transitional policy set exists, a sensible approach would be to try to establish a roadmap of economic policies for, say a few major crops, and see if feasible alternatives exist.

Counterterrorism policies in the Middle East and North Africa: A regional perspective

The 9/11 attacks and the “War on Terror” brought terrorism and counterterrorism to the forefront of politics. Today, terrorism remains one of the most serious threats to national and international security. Yet, amid the surge of scholarly and policy interest in terrorism and counterterrorism, the literature on counterterrorism policies and strategies in the Middle East at the local and regional levels is sparse, limited and predominantly Western. The experience of political terrorism and violence in the Middle East throughout the 1980s and 1990s, which led to the introduction of a securitization process and the adoption of counterterrorism measures in the region long before the 9/11 attacks, offers important lessons. This paper takes its point of departure from the definitional conundrum of the concepts of “terrorism” and “(national) security” within the Middle East context. It examines the evolution of the securitization process in the Middle East in response to terrorism, with reference to the experiences of countries in the region. As it analyzes the different counterterrorism models and methods employed, it argues that counterterrorism strategies in much of the Middle East have not been effective and have at times been counterproductive.

Diasporic Foreign Policy Interest Groups in the United States: Democracy, Conflict, and Political Entrepreneurship

Why do some immigrant diasporas in the United States (U.S.) establish foreign policy interest groups while others do not? While scholars have demonstrated that diasporic interest groups often successfully influence U.S. foreign policy, we take a step back to ask why only certain diasporas attempt to do so in the first place. We argue that two factors increase the likelihood of diaspora mobilization: a community’s experience with democratic governance and conflict in its country of origin. We posit that these conditions make it more likely that political entrepreneurs emerge to serve as catalysts for top-down mobilization. To test our hypotheses, we collect and analyze novel data on diasporic interest groups as well as the characteristics of their respective countries of origin. In turn, we conduct the first in-depth case studies of the historical and contemporary Indian-American lobbies, using original archival and interview evidence.

PENGARUH SUKU BUNGA, KURS RILL DAN PERTUMBUHAN EKONOMI TERHADAP YIELD OBLIGASI PEMERINTAH : LOWER MIDDLE INCOME COUNTRIES DI ASIA PASIFIK

This study explains the influence of monetary policy interest rates, real exchange rates and economic growth on government bond yields on Lower Middle Income Countries in Asia Pacific. This study combines cross section data in 5 countries with time series from 2007-2018, with the Panel Regression method and the Random Effect model selection test. The results show that: (1) Monetary Policy Interest Rates has a positive and significant effect on government bond yields on Lower Middle Income Countries in Asia Pacific, (2) The real exchange rate have a negative and significant effect on government bond yields for Lower Middle Income Countries in Asia Pacific. , (3) Economic growth has a negative and significant effect on government bond yields on Lower Middle Income Countries in Asia Pacific.

ON THE ISSUE OF INCREASING THE FINANCIAL POTENTIAL OF HOUSEHOLDS

Households are full participants in economic relations. Their role is determined primarily by the financial potential, using which, households are able to provide consumption and capital accumulation. There are various approaches to the issue of the content of the concept of "financial potential". The issue of increasing the financial potential of households is no less urgent. The foregoing determines the relevance of the stated research. Its results are presented to the readers in this work. The article is devoted to the substantiation of increasing the financial potential of the household through the use of corporate insurance in practice, primarily in terms of voluntary health insurance. The materials of the article can be useful to companies for the development of social policy. Interest should be sparked by the value of corporate insurance, not only for the company and its employees, but for the economy as a whole.

Distortionary effects of economic crises on policy coordination in Turkey: Threshold GMM approach

This study investigates the interaction between fiscal and monetary policies and how crises affect the coordination between policymakers in Turkey. This study’s novelty is that a nonlinear Taylor rule indicating monetary policy response function is estimated based on the Threshold Generalized Method of Moments (Threshold GMM) methodology over the period January 2006—March 2020. The empirical findings reveal that when fiscal policy has an expansionary stage, especially in crises times, the policy interest rate does not react significantly to the inflation gap, output gap and real effective exchange rate gap in expansionary periods. On the contrary the policy interest rate gives statistically important responses to these variables during contractionary fiscal policy periods. Thus, the effectiveness of the Taylor rule appears in a period of contractionary fiscal policy. This situation gives rise to the significant policy implication that the monetary policymaker’s success in controlling inflation increases with the contractionary fiscal policy. Finally, it has been observed that effective coordination between monetary and fiscal policies did not occur during crisis periods, but compatible coordination was achieved in other periods.