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Available. Open Access. Open Access
Article
Publication date: 5 July 2024

Wonjae Hwang, Hoon Lee and Sang-Hwan Lee

As a response to challenges that globalization poses, governments often utilize an expansionary fiscal policy, a mix of increased compensation spending and capital tax cuts. To…

298

Abstract

Purpose

As a response to challenges that globalization poses, governments often utilize an expansionary fiscal policy, a mix of increased compensation spending and capital tax cuts. To account for these policy measures that are consistent with neither the compensation nor the efficiency hypothesis, this study examines government fractionalization as the key conditional factor.

Design/methodology/approach

We test our hypothesis with a country-year data covering 24 OECD countries from 1980 to 2011. To examine how a single country juggles compensation spending and capital taxation policies jointly, we employ a research strategy that classifies governments into four categories based on their implementation of the two policies and examine the link between imports and fiscal policy choices conditioned on government fractionalization.

Findings

This study shows that highly fractionalized governments are more likely to implement an expansionary fiscal policy than marginally fractionalized governments as a policy response to economic globalization and import shock.

Social implications

Our findings imply that fractionalized governments are likely to face budget deficits and debt crises, as the expansionary fiscal policy persists over time.

Originality/value

By examining government fractionalization as one of the critical factors that constrain the fiscal policy choice, this study enhances our understanding of the relationship between economic globalization and compensation or efficiency policies. The arguments and findings in this study explain why governments utilize the seeming incompatible policy preferences over increased compensation spending and reduced capital tax burdens as a response to globalization, potentially subsuming both hypotheses.

Details

International Trade, Politics and Development, vol. 8 no. 2
Type: Research Article
ISSN: 2586-3932

Keywords

Available. Content available
Book part
Publication date: 30 September 2019

Jacob Dahl Rendtorff

Abstract

Details

Philosophy of Management and Sustainability: Rethinking Business Ethics and Social Responsibility in Sustainable Development
Type: Book
ISBN: 978-1-78973-453-9

Available. Open Access. Open Access
Article
Publication date: 8 March 2021

Ga Yoon Choi, Hwan Sung Kim, Hyungkyoo Kim and Jae Seung Lee

In cities with high density, heat is often trapped between buildings which increases the frequency and intensity of heat events. Researchers have focused on developing strategies…

3573

Abstract

Purpose

In cities with high density, heat is often trapped between buildings which increases the frequency and intensity of heat events. Researchers have focused on developing strategies to mitigate the negative impacts of heat in cities. Adopting green infrastructure and cooling pavements are some of the many ways to promote thermal comfort against heat. The purpose of this study is to improve microclimate conditions and thermal comfort levels in high-density living conditions in Seoul, South Korea.

Design/methodology/approach

This study compares six design alternatives of an apartment complex with different paving and planting systems. It also examines the thermal outcome of the alternatives under normal and extreme heat conditions to suggest strategies to secure acceptable thermal comfort levels for the inhabitants. Each alternative is analyzed using ENVI-met, a software program that simulates microclimate conditions and thermal comfort features based on relationships among buildings, vegetation and pavements.

Findings

The results indicate that grass paving was more effective than stone paving in lowering air temperature and improving thermal comfort at the near-surface level. Coniferous trees were found to be more effective than broadleaf trees in reducing temperature. Thermal comfort levels were most improved when coniferous trees were planted in paired settings.

Practical implications

Landscape elements show promise for the improvement of thermal conditions because it is much easier to redesign landscape elements, such as paving or planting, than to change fixed urban elements like buildings and roads. The results identified the potential of landscape design for improving microclimate and thermal comfort in urban residential complexes.

Originality/value

The results contribute to the literature by examining the effect of tree species and layout on thermal comfort levels, which has been rarely investigated in previous studies.

Details

International Journal of Climate Change Strategies and Management, vol. 13 no. 2
Type: Research Article
ISSN: 1756-8692

Keywords

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