<abstract xmlns="http://www.w3.org/1999/xhtml"> Court packing greatly threatens democracy. This paper examines, compares and draws conclusions from two attempts: The PiS government is near to packing Polish courts; President Roosevelt tried but failed to pack the U.S. Supreme Court in 1937. In most democracies a head of government with a legislative majority and strong party control can pack courts, giving complete control. The United States escaped; Roosevelt lacked complete party control. Poland is unlucky; PiS is strongly controlled. Peaceful domestic protest is necessary, but Poland’s hope is from EU-level institutional pressure, supported by major democracies, to reverse packing and prevent further seizure of power.</abstract>

Constitutional conflicts in the European Union: Court packing in Poland versus the United States

<abstract xmlns="http://www.w3.org/1999/xhtml"> The aim of this paper is to identify and assess, on a comparative, intra-country basis, the existing practices and developments in central bank accountability for financial stability, from a new-macroprudential policy-perspective. The paper aims to contribute to the ongoing debate on institutional arrangements for macroprudential policy. The debate as to whether the combination of monetary policy and financial supervision within one institution is not new. Nevertheless it is far from being resolved. The paper points to the need to establish clear, formal and robust mechanisms of central bank involvement in the process of executing macroprudential policy, at least as a data collection and analyzing institution.</abstract>

On the growing accountability of central banks for financial stability–the macroprudential perspective

<abstract xmlns="http://www.w3.org/1999/xhtml"> The main objective of the paper is to verify the vanishing interim regime hypothesis (so-called bipolar view) and to analyse factors that may influence the probability of use of intermediate exchange rate regimes, especially in emerging and developing economies. In order to accomplish the research objectives the evolution of exchange rate regimes is presented with the special consideration of decisions of IMF member states in this respect. Next a logistic regression model that estimates the probability of use of an intermediate regime is applied. The results achieved allow a challenge to the vanishing interim regime hypothesis. Empirical observations support this hypothesis only in advanced countries and not in their emerging and developing peers.</abstract>

Choosing the exchange rate regime–a case for intermediate regimes for emerging and developing economies

<abstract xmlns="http://www.w3.org/1999/xhtml"> In the light of Schumpeter’s pioneering vision of economic evolution the innovations and innovative entrepreneurs play a fundamental role in the economic development. However, imitations and producers-imitators are essential in diffusing and adapting innovations into the economic exchange processes. In this context the aim of the paper is to model and analyse some properties of imitative mechanisms appearing within the economic evolution. Innovative and imitative mechanisms defined in Hurwicz’s conceptual apparatus are analysed in the economy determined by the use of topological tools usually applied in the general equilibrium theory. As a result it is shown that, in the economy under study, imitative mechanisms are the reasons for and the consequences of innovative mechanisms as well as that the innovative and imitative processes can coexist in the framework of the same innovative mechanism. Moreover it is proven that under some assumptions equilibrium in the economic system analysed can be obtained as a consequence of either of an innovative or an imitative mechanism.</abstract>

The role of imitative mechanisms within the economic evolution

<abstract xmlns="http://www.w3.org/1999/xhtml"> From October 2017 the European Union envisages the abolition of the so-called sugar quotas and minimum prices for buying sugar beet. As a consequence of these changes the sugar levies paid by the sugar factories of the Member States will cease to apply. The article identifies the fiscal effects of the abolition of these levies. The European Union and the Member States will lose some of their budget revenues. The structure of Member States’ burdens for GNI payments will also change as well as their operating balance relative to the EU budget. Through the change Poland will gain, whereas some large net contributors will lose, i.e. the Netherlands, Sweden and the United Kingdom.</abstract>

Fiscal consequences of the abolition of sugar levies

<abstract xmlns="http://www.w3.org/1999/xhtml"> Canada is often put forward as an example of forward thinking on inclusiveness and gender balance. However, for the last 30 years, while gender diversity progress has been made within Canadian government agencies, commissions and boards (ABCs), the private sector continues to lag behind, stuck trying to break through the barrier of 18-22% females on Boards. This occurs while mounting empirical evidence clearly indicates that it is not just the right thing to do, it is the smart thing to do. This paper looks at where progressive government change has generated results and potential avenues necessary to make gender equality a reality within both the government and private sector beyond 2018. The author reviews the methods used by the Canadian government to achieve gender parity, ending with some insights on how the private sector could implement gender parity without the use of quotas.</abstract>

Bold vision: Gender diversity stuck in transition

<abstract xmlns="http://www.w3.org/1999/xhtml"> Islamic banks are growing rapidly with annual growth rates of 17.6% between 2009 to 2013 and 19.7% from 2014 to date. This level of growth is projected to continue into the future. Islamic banks now operate in more than 75 countries with a value of approximately $920 trillion of bank assets. Islamic banks are increasingly being seen as good long-term value propositions and are serving both Muslim and non-Muslim customers across international markets. Despite the rapid growth in Islamic finance, the underpinning corporate governance rules and regulations are at an embryonic stage of development with little attention having been paid to them. The purpose of this paper is to help fill that gap by exploring a conceptual model of corporate governance for Islamic banks based on both Islamic finance principles while fused with elements of corporate governance standards from Western theories and codes, primarily the UK, and thereby ensure that good governance is in place in Islamic banks. The paper links the predominant corporate governance theories of Principal/Agent, Stakeholder and Stewardship with practice based corporate governance codes and explores the potential of applying stewardship theory to Islamic banks. Islamic principles emphasis is on real assets rather than debt as is the case in Western Banks and as a consequence this paper offers the conclusion that the more prudent approach to banking used by Islamic banks could be used as a model for Western banks and thereby deliver a more sustainable future and maintain confidence in banks and substitute for the need for taxpayer support, such as the guaranteed deposit scheme, which acts as a backstop under the Western approach.</abstract>

Best practice in bank corporate governance: The case of Islamic banks

Book Reviews

AHEAD OF PRINT

Volume 10 (2024): Issue 1 (April 2024)

Volume 9 (2023): Issue 4 (December 2023)

Volume 9 (2023): Issue 3 (October 2023)

Volume 9 (2023): Issue 2 (April 2023)

Volume 9 (2023): Issue 1 (April 2023)

Volume 8 (2022): Issue 4 (December 2022)

Volume 8 (2022): Issue 3 (October 2022)

Volume 8 (2022): Issue 2 (July 2022)

Volume 8 (2022): Issue 1 (April 2022)

Volume 7 (2021): Issue 4 (December 2021)

Volume 7 (2021): Issue 3 (September 2021)

Volume 7 (2021): Issue 2 (June 2021)

Volume 7 (2021): Issue 1 (March 2021)

Volume 6 (2020): Issue 4 (December 2020)

Volume 6 (2020): Issue 3 (August 2020)

Volume 6 (2020): Issue 2 (June 2020)

Volume 6 (2020): Issue 1 (March 2020)

Volume 5 (2019): Issue 4 (December 2019)

Volume 5 (2019): Issue 3 (September 2019)

Volume 5 (2019): Issue 2 (June 2019)

Volume 5 (2019): Issue 1 (March 2019)

Volume 4 (2018): Issue 4 (November 2018)

Volume 4 (2018): Issue 3 (July 2018)

Volume 4 (2018): Issue 2 (June 2018)

Volume 4 (2018): Issue 1 (April 2018)

Economics and Business Review

The aim of Economics and Business Review is to provide a platform for academicians from all over the world to share, discuss and integrate their research in the fields of economics and finance, including both behavioural economics and finance, with a key interest in topics that are relevant for emerging market economies. The journal welcomes submissions of articles dealing with micro, mezzo and macro issues that are well-founded in modern theories or based on empirical studies and which are valuable for an international readership.   The journal is published in English. Texts are double-blind peer-reviewed by independent specialists from Polish and foreign academic centers. The journal is open for contributions from economists and management specialists both from Poland and abroad.  Economics and Business Review is scored 70 points in the Ministerial List of Journals.  The journal is edited and published in the paper form and also presented on-line.  This journal is the open access and non-profit enterprise.  The journal have no articles processing charges (APCs) nor article submission charges.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 