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A MULTI-DIMENSIONAL POLICY FRAMEWORK FOR ANALYZING AND RESPONDING TO GLOBAL ECONOMIC CRISES

Scholedge International Journal of Business Policy & Governance

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Title A MULTI-DIMENSIONAL POLICY FRAMEWORK FOR ANALYZING AND RESPONDING TO GLOBAL ECONOMIC CRISES
 
Creator Moldovan, Octavian; Research assistant, Department of Public Administration and Management, Faculty of Political, Administrative and Communication Sciences, Babes-Bolyai University
Barnes, David; PhD candidate, School of Public Policy and Administration, University of Delaware
 
Subject Public Administration, Public Policy, Finance
Holistic Evaluative Model, economic crisis, policy model, globalization
 
Description This paper builds a Holistic Evaluative Model (or HEM) to analyze crises responses, focusing on multiple narratives (explanations) from fields as varied as economics, political science, finance and public policy. A broader framework equips policymakers with more options to shape responses to crises which routinely occurred during the last 75 years of heightened globalization. A HEM reflects the actual process of policy evaluation by combining data across different fields with a valid approach clear enough to discuss increasing opportunities to ameliorate crisis impacts. Even if they are identified, policymakers may not directly influence the causes of crises, which for 2007-2009 included (a) limited market corrections; (b) regulation deficiencies (c) systemic risks; (d) irrational behaviors; (e) informational complexities and (f) cultural failings (that exacerbated these inefficiencies), but they can focus on developing and implementing adequate policy responses. As such, HEMs increase options over a siloed approach by incorporating multiple theoretical tools, dynamic ripple-effects and diverse stakeholders – simultaneously evaluating monetary-fiscal policy, actor rationality, systematic risk and the cultural context.
 
Publisher Scholedge R&D Center
 
Contributor —
 
Date 2017-07-16
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://thescholedge.org/index.php/sijbpg/article/view/371
10.19085/journal.sijbpg040301
 
Source Scholedge International Journal of Business Policy & Governance ISSN 2394-3351; Vol 4, No 3 (2017)
2394-3351
 
Language eng
 
Relation http://thescholedge.org/index.php/sijbpg/article/view/371/456
 
Rights Copyright (c) 2017 Scholedge International Journal of Business Policy & Governance ISSN 2394-3351
http://creativecommons.org/licenses/by-nc/4.0