Innovative ways of thinking concerning economic governance after the global financial crisis

Several systems of budgeting have been introduced into practice over the last fifty years. While more popular budgeting systems such as incrementalism and Planning Programming Budgeting Systems (PPBS) have seen continued popularity and resilience as budgeting systems, zero-based budgeting (ZBB) has experienced a resurgence in popularity, as governments and public organizations alike seek to control wasteful spending within their departments. The aim of this article is to provide users with a step-by-step guide to designing zero-based budgeting for public organizations. This article begins by describing the foundations of zero-based budgeting, as well as providing a brief comparative exploration of ZBB alongside other contemporary budgeting systems. To gain a deeper understanding of zero-base budgeting and the potential, as well as the drawbacks that this type of budgeting system holds, this paper examines the actual experience of several organizations that have implemented the zero-based budgeting method. This is accomplished by conducting a critical review of all the research and case studies that have been conducted on this topic. It is the hope of the author that both public sector and non-profit organizations will benefit from the findings of this paper when considering the implementation of their own zero-based budgeting, resulting in better planning and performance evaluation.

This study aims to investigate the role of Fintech in predicting the spread of COVID-19 based on consumers’ Fintech perceptions and behavior before and after the outbreak of COVID-19. The study used a questionnaire-based survey distributed in different countries of the world using the LinkedIn platform for this purpose to reach the targeted population. The snowball sampling technique was used. The study targeted consumers with Fintech experience, especially in digital payments services. 507 samples were retrieved. For the analysis, the Structural Equation Modeling (SEM) was used. The study revealed novel results in predicting COVID-19 spread; these three variables (Fintech Behavior before COVID-19, Fintech Behavior after COVID-19, and Fintech Perception after COVID-19) could predict 52.5% of the variance in the dependent variable (COVID-19 Spread) (R² = 0.525, p < 0.05). The findings show that Higher Fintech perception and behavior among Fintech users will help in reducing the spread of COVID-19 by avoiding the use of contact payment methods. Contactless payment methods are the main tools in Fintech that might help in avoiding the probability of COVID-19 spread. Consumers’ Fintech perceptions and behavior are the most influencing factors that could predict the spread of COVID-19 in this study, where digital payments are the main concern. It is recommended that consumers adopt digital payment methods and tools, especially contactless payment methods, to fulfill their financial services. Other researchers are also encouraged to use the same model to predict the spread of this virus in the Fintech context.

This paper contributes to the understanding of how the environment, ethics, values, and historical contingencies shape public policy. It explains the accomplishment of petroleum resource management in the small open economy of Norway. The study is conducted by mapping policy decisions and the arguments behind them regarding environmental and ethical issues. This is done by studying available governmental and parliamentary papers along with statements from politicians and central governmental officials. The paper also seeks to illuminate some of the decisions by quantitative measures.
The paper firstly describes a model of Ricardian resource rent. Secondly, it investigates the set of values that were in place before the petroleum production started in the 1970s, as described in public documents. An important argument was to build a “qualitatively better society” for the benefit of the people. Thirdly, it traces the historical roots of these values by examining historical sources.
The main findings are that success lies in understanding the ethics behind the environmental resource rent harvesting of this non-renewable natural resource. The paper concludes that the focus on the natural environment and resource rent management can be attributed to popular values built on historical traditions. According to them, the state and the trust between the state and its citizens played key roles in shaping the policy. The careful policy can be illustrated by the fact that Norway has managed to build one of the largest sovereign funds in the world worth USD 1,200 billion for use by future generations. Only 3% of its value, significantly less than its historical net profit, should be used annually.