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1 – 10 of 416Antonio Cutanda and Juan Alberto Sanchis Llopis
The purpose of this study is to estimate the housing wealth effect on non-durable consumption using data from the Spanish Survey of Household Finances (Encuesta Financiera de las…
Abstract
Purpose
The purpose of this study is to estimate the housing wealth effect on non-durable consumption using data from the Spanish Survey of Household Finances (Encuesta Financiera de las Familias, SHF) for the period 2002–2017.
Design/methodology/approach
The authors aim at identifying the effect of anticipated and unanticipated housing wealth changes on consumption with the sample of homeowners, following Paiella and Pistaferri (2017).
Findings
Results of this study lead us to conclude that there exists a strong housing wealth effect on consumption for the Spanish households.
Originality/value
The authors provide evidence against the permanent income model. They also analyse how the results change with income expectations, age and the household indebtedness rate. Finally, they detect a strong excess sensitivity to income.
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Carlos Fernando Ordóñez Vizcaíno, Cecilia Téllez Valle and Pilar Giráldez Puig
The aim of this paper is to analyse the spillover effects of microcredit on the economy of Ecuador, with a particular focus on its potential as a poverty alleviation mechanism.
Abstract
Purpose
The aim of this paper is to analyse the spillover effects of microcredit on the economy of Ecuador, with a particular focus on its potential as a poverty alleviation mechanism.
Design/methodology/approach
To address our research questions, we take into account the distance between cantons (Ecuador’s own administrative distribution) by adopting a spatial autoregressive (SAR) model. To this end, a database will be constructed with macroeconomic information about the country, broken down by canton (administrative division of Ecuador), and in a 2019 cross section, with a total of 1,331 microcredit operations in all 221 of Ecuador’s cantons.
Findings
We find a positive effect of microcredit on these neighbouring regions in terms of wealth generation.
Research limitations/implications
We acknowledge that this study is limited to Ecuadorian cantons. Nonetheless, it is crucial to emphasize that focussing on an under-represented developing country like Ecuador adds significant value to the research.
Practical implications
Facilitating access to microcredit is one of the main solutions to address the goals proposed in the sustainable development goals (SDGs).
Social implications
Microcredit activity contributes to the creation of value and wealth in Ecuador, exerting a spillover effect in neighbouring areas that can generate positive multiplier effects and alleviate poverty. For all of the above reasons, our proposal for the country is to support and promote microcredit as one of the main solutions to address the goals proposed in the SDGs.
Originality/value
The novelty of this study lies in the use of spatial econometrics to observe the indirect effects of microcredit on the regions bordering the canton in which it was issued, thus examining the spatial effects of microcredit on wealth distribution.
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The purpose of this paper is to understand the distributional impact of house price increases on consumption in the context of the energy transition.
Abstract
Purpose
The purpose of this paper is to understand the distributional impact of house price increases on consumption in the context of the energy transition.
Design/methodology/approach
This study draws from two micro cross-sectional datasets, the English Housing Survey (EHS) and the Living Costs and Food Survey (LCFS) to study the Marginal Propensity to Consume (MPC) out of changes in house prices. By employing pseudo-panel regressions, the paper examines the impact of house price changes on consumption among diverse household types.
Findings
This paper finds varying consumption responses to house price changes across age and tenure groups. Older homeowners tend to increase consumption when house prices rise. In contrast, middle-aged individuals, often renters or mortgage holders, reduce consumption in response to price increases. The youngest age group also experiences increased consumption but to a lesser degree than the oldest group. Energy-efficient homes are related to lower consumption across all tenure levels. However, when interacted with house prices and age, the estimates are positive, pointing to an unequal accrual of property premiums depending on housing market positions.
Research limitations/implications
The main limitations stem from data constraints. First, using a pseudo-panel approach hinders control for unobservable selection bias. Additionally, while robust under cross-validation and specifications tests, the energy efficiency variable imputation results in a low number of energy-efficient homes. Due to heterogeneous responses to rising house prices, this paper contends that an energy transition model that subsidises homeowners’ renovation is likely to produce a negative impact on consumption among younger and middle-aged households.
Originality/value
This paper contributes to the MPC literature by incorporating energy efficiency as a key variable. It draws from recent data to obtain new estimates. By highlighting shifts in consumption patterns the paper contributes to a well-established body of literature with renewed policy relevance regarding housing retrofit.
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Koech Cheruiyot and Thabelo Ramantswana
Acknowledging that housing forms a large part of households’ and country’s long-term wealth, the South African Government has implemented various housing-related policies towards…
Abstract
Purpose
Acknowledging that housing forms a large part of households’ and country’s long-term wealth, the South African Government has implemented various housing-related policies towards that end. Among these, the government has extended transfer duty exemption to house buyers – both individuals or natural persons and companies or other parties – to enable them buy houses of their choices since January 1950 to date. This paper aims to investigate the relationship between historical transfer duty exemption and housing demand in the City of Johannesburg (CoJ) over a longer period, where a comprehensive data set on house sales and other predictors was available.
Design/methodology/approach
This paper uses multi-year data on repeat house sales from 2010 to 2020 and other macro- and socio-economic variables to test the relationship between transfer duty exemption and housing demand in the CoJ, a core part of Gauteng province, South Africa. After cleaning the original data, final analysis was based on 139,121 repeat sales transactions. Data was analyzed in R.
Findings
Findings suggest that, when macro-, socio-economic and yearly effects are controlled, transfer duty has a damping effect on housing demand in the CoJ. The results were consistent across all the estimated models. While the motivation behind the implementation of transfer duty exemption in South Africa continues to encourage home ownership, these findings are unexpected because they do not offer support to that policy intention. These unexpected results are partly explained by the prevailing complexities of the housing market and related policies and the progressive tax regime. However, there are welfare effects that all buyers achieve across the housing market ecosystem.
Originality/value
This paper extends work on housing markets research in South Africa through the investigation of mortgage-based housing market in the CoJ that presents one of the densest, developed, bustling and growing housing market in the country. It also presents a fertile ground where all the effects of all the housing policies coalesce – in the statistical sense, one can control the effect of some aspects of housing policies, while appropriately testing the link between a specific policy (in this case, transfer duty exemption) and housing dynamics.
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Francesco Scarpa and Silvana Signori
This study aims to contribute to the debate about the place of corporate taxation in corporate social responsibility (CSR) by reviewing the present state of research, offering a…
Abstract
Purpose
This study aims to contribute to the debate about the place of corporate taxation in corporate social responsibility (CSR) by reviewing the present state of research, offering a comprehensive understanding of the content and dimensions of corporate tax responsibility (CTR) and discussing further developments in research and action.
Design/methodology/approach
The study builds on a systematic literature review of 117 theoretical and empirical papers on tax within the broad field of CSR published in peer-reviewed academic journals and books.
Findings
The analysis unfolds and discusses the construct of CTR and proposes a unified conceptualisation that elucidates for what firms are (or should be) held accountable on tax matters and the different dimensions (i.e. instrumental, political, integrative and ethical) which justify greater tax responsibility and enable its achievement.
Practical implications
The results can provide companies with practical guidance to enhance their tax responsibility and can give stakeholders and policymakers suggestions for new mobilisation strategies to achieve more responsible tax behaviour.
Social implications
Corporate tax payments are a fundamental dimension of CSR, as they fund public goods and services and reduce the unequal distribution of wealth. Providing a more structured understanding of CTR, this paper can contribute towards attaining more responsible tax outcomes which can better serve and benefit the whole society.
Originality/value
This study offers a structured overview of the present state of tax research in CSR, while providing a comprehensive understanding and conceptualisation of the construct of CTR, thus enabling scholars to situate their work and develop further relevant research in this field.
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Sumaya Hashim, Maura McAdam and Mattias Nordqvist
Drawing on indigenous theory of Ibn Khaldun, the rise and fall of States, this paper explores the agency of women entrepreneurs in family business in Bahrain and the underlying…
Abstract
Purpose
Drawing on indigenous theory of Ibn Khaldun, the rise and fall of States, this paper explores the agency of women entrepreneurs in family business in Bahrain and the underlying enablers in supporting and facilitating the exercise of this agency. This study attempts to move beyond the Western-centric studies to reflect and bring to light the unique institutional settings of the Gulf States.
Design/methodology/approach
The research builds on a rich qualitative single case of a family business based in Bahrain. The single case study methodology was motivated by the potential for generating rich contextual insights. Such an approach is particularly valuable to gain a more holistic and deeper understanding of the contextualized phenomenon and its complexity.
Findings
In this study the authors show how women entrepreneurs take two different paths to enter and become involved in the family business, the barriers they are subjected to and the active role they play in dismantling the challenges to the extent that they become the main mediators between the family business and central institutions in society.
Originality/value
By incorporating indigenous theory with Western family business concepts, the study extends existing understanding of women entrepreneurs in family business by underscoring the agency that women entrepreneurs have in “doing context” and the role that women play in strengthening common cause and destiny within the family and the business by building and drawing on different forms of loyalty.
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Hafssa Yerrou, Amina Achmaoui and Oumaima Bezoui
Muslims have several religious obligations; the payment of a defined sum to the deprived part of the society is one of their financial obligations called Zakat. The…
Abstract
Purpose
Muslims have several religious obligations; the payment of a defined sum to the deprived part of the society is one of their financial obligations called Zakat. The institutionalization of this obligation has been the focal point of several research studies, however the Moroccan context has been studied by very few researchers. Therefore, this research aims to study the institutionalization of Zakat in the Moroccan context.
Design/methodology/approach
In this paper, the authors try to drive focus to the determinants of the payment of Zakat to a specialized institution in Morocco (institutions whose main activity is the management of zakat funds), through 302 questionnaires that have been administrated on Moroccans and partial least square (PLS) approach.
Findings
The results show that the intention and payment behavior of Zakat by Moroccans depends on the quality of the zakat institution's quality of services, its location, the competence and availability of personnel, the use of technology, the shari'ah compliance of the institution’s activities and the trust by showing professionalism in the management of Zakat funds and disclose information.
Research limitations/implications
The lack of relevant data covering the number of Zakat payers in Morocco, their potential contributions and the amounts paid each year, slows down the progress of this project as it hinders the ability of state officials and decision-makers to assess the potential zakat funds that are currently in circulation, and thus makes it hard for them to attribute financial support to such project. It also makes it hard for researchers to get direct access to Muzzakis.
Practical implications
The existing literature shows immense interest in the implementation of institutions who can manage the Islamic social instruments especially zakat. However, the lack of relevant payer data of Zakat in Morocco and other jurisdictions who have not yet institutionalized zakat slows down the progress of this project and hinders any progress. Thus, the initiating point of such institutions in Morocco and in other countries who have not yet launched this project, requires knowing what determines the behaviour of Zakat payers and their choice of paying zakat to an institution. The results of our research help give insights on the determinants of zakat institutionalization from zakat payers point of view. These results are useful to the state policy makers.
Social implications
Like other neighboring countries, Morocco must introduce Zakat into its social system in order to better manage the funds that will enable the tackling of serious social problems such as poverty.
Originality/value
In contrast to the widespread and extensive literature available in analyzing the determinants of donations and volunteering from a conventional perspective, the parallel analysis of these same concerns in social Islamic systems is still in its infancy and so is the implementation of institutions related to zakat and other traditional Islamic social instruments such as waqf.
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Revathi Ellanki, Marta Favara, Duc Le Thuc, Andy McKay, Catherine Porter, Alan Sánchez, Douglas Scott and Tassew Woldehanna
This paper draws on the results of telephone surveys conducted to assess the impact of the coronavirus disease 2019 (COVID-19) pandemic on the young people of two longitudinal…
Abstract
This paper draws on the results of telephone surveys conducted to assess the impact of the coronavirus disease 2019 (COVID-19) pandemic on the young people of two longitudinal cohorts (aged 19 and 26 years old at the time) of the four countries that participate in the Young Lives research programme: Ethiopia, India, Peru and Vietnam. We first review the pandemic experiences of these four countries, which differed significantly, and report on the responses of the individual young people to the pandemic and the measures taken by governments. Our main focus is on how the pandemic and policy responses impacted on the education, work and food security experiences of the young people. Unsurprisingly the results show significant adverse effects in each of these areas, though again with differences by country. The effects are mostly more severe for poorer individuals. We stress the challenges that COVID-19 is creating for meeting the United Nations’ Sustainable Development Goals, in particular in making it more difficult to ensure that no one is left behind.
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Son Nghiem and Xuan-Binh (Benjamin) Vu
Basic income (BI) is predicted to be the major economic intervention in response to raising income inequality and accelerating technological progress. Financing is often the first…
Abstract
Purpose
Basic income (BI) is predicted to be the major economic intervention in response to raising income inequality and accelerating technological progress. Financing is often the first question that arises when discussing a BI. A thorough answer to this question will determine the sustainability of any BI program. However, BI experiments implemented worldwide have not answered this question. This paper explores two options for a BI program in Australia: (1) BI and (2) top-up basic income (TBI).
Design/methodology/approach
The authors employ “back-of-the-envelope” calculations with the latest publicly available data on income distribution, the poverty line and the share of income tax in the government revenue to estimate the costs of implementing BI in Australia.
Findings
Even without any change in the current tax regulations, the TBI option, which requires a contribution of 2–3% disposable income from net contributors, will guarantee that no Australian family lives under the current national poverty line. The BI for all options is not financially feasible under the current tax and transfer regulations because it requires an additional tax rate of at least 42% of disposable income from net contributors.
Practical implications
The results of this study can serve as inputs for the design and implementation of BI options in Australia and similar countries.
Originality/value
This is the first paper that examines the macroeconomic effects of BI options in Australia.
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The sharing economy, supported by digital platforms, efficiently matches the demand and supply of underused resources. Expanding globally and impacting different industries is…
Abstract
Purpose
The sharing economy, supported by digital platforms, efficiently matches the demand and supply of underused resources. Expanding globally and impacting different industries is offering a new path to sustainable resource consumption. The United Nations endorsed the sustainable development goals (SDGs), responding to a global call to end poverty, protect the environment and ensure that by 2030, everyone lives in peace and prosperity. Researchers have linked the sharing economy with SGDs, and extensive efforts have been exerted to quantify its impact.
Design/methodology/approach
Due to its evolving nature, especially in developing countries, there is a need for research to assess its promises and challenges from the SDG perspective. This research fills in this gap and contributes to the sharing economy studies by exploring its evolution within the framework of sustainable development goals, followed by an assessment of various methodologies for measuring the sharing economy and highlighting the significance of the web mining technique.
Findings
The proper implementation of this decentralized business model within a country is encouraging optimal resource use, lowering energy consumption and increasing long-term economic development. The sharing economy is a disruptive force that addresses the pillars of sustainability.
Originality/value
The research holds importance in addressing the achievement of the SDGs through the sharing economy, necessitating focus from policymakers and scholarly discourse on its merits. The transformative impact of the sharing economy poses questions about its encouragement or regulation, with the potential to disrupt established monopolies and possibly create new ones. Its successful implementation underscores the significance of effective data sharing and governance.
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