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EN
Coordination of policies in different sectors and at multiple levels is a major task for governing the water-energy-food nexus. Nexus governance has to deal with plurality of policies that are in place (e.g., interaction of policies across levels). Based on an overview of governance challenges, this report provides insights into policy instruments and experiences in their application at the global, national, regional and local levels. Institutional innovation is needed to develop democratic and participatory approaches that address the water-energy-food nexus. Another requirement is the development and implementation of binding environmental targets (e.g. water quality standards, land use distribution) which should be set at national or supranational levels. However, context-specific pathways should be established for different regions to achieve those targets. Various examples are provided to illustrate challenges and solutions to the implementation of a nexus governance approach.
EN
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.
EN
Purpose: This study is dealing with the application of evidence-based policy-making in Croatian public administration and the general role of applied policy analysis in the Croatian system of governance. Methodology: This development is illustrated by the peculiarities of introducing regulatory impact assessment (RIA) tools in Croatian public administrative structures. Findings: The author is pointing out various limitations in the usage of policy analysis tools in formulating, implementing and evaluating public policies in Croatia. The crucial role of RIA for enhancing executive capacity of governance structures is particularly stressed in the study. The final part of the article is devoted to the prospects of further development of RIA as an applied policy analysis tool within the Croatian system of governance.
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