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1 – 10 of 34
Article
Publication date: 6 April 2022

Miguel A. Martínez and Angeles Camara

This work analyzes the economic impact of an economic crisis on consumption in Spanish households, detecting inequalities in household consumption according to the age of…

Abstract

Purpose

This work analyzes the economic impact of an economic crisis on consumption in Spanish households, detecting inequalities in household consumption according to the age of the main breadwinner and changes in consumption patterns. In particular, the effects of the financial crisis of 2008 on household consumption are studied and divided according to the main breadwinner's age group to obtain the economic impact of the fall in consumption in young households.

Design/methodology/approach

The input–output tables of the Spanish economy during the years 2005 and 2015 and data on household consumption based on age group have been used. Economic impact is estimated through multisector modeling, specifically a demand model expressed in monetary terms. This model allows us to obtain the direct impact on the sectors offering the demanded services and the indirect impact due to increase in intermediate demand from these sectors on the rest of them.

Findings

The results obtained show the changes in household consumption and its effects on different productive sectors, highlighting the following sectors: real estate activities, electricity, gas, steam and air conditioning supply, accommodation and food service activities and manufacturing.

Originality/value

This study measures the impact of an economic crisis on the consumption of young households, analyzing all groups of households according to the main breadwinner's age, with the added value of studying the impact of this variation on household consumption and quantifying the positive and negative impact on the different sectors of activity of the Spanish economy.

Details

International Journal of Social Economics, vol. 49 no. 8
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 9 March 2022

César Lenin Navarro-Chávez, Odette V. Delfin-Ortega and Enrique Guardado Ibarra

The purpose of this paper is to determine the level of technical efficiency of the main oil countries worldwide during the period 2010–2017.

Abstract

Purpose

The purpose of this paper is to determine the level of technical efficiency of the main oil countries worldwide during the period 2010–2017.

Design/methodology/approach

The use of the network data envelopment analysis model (NDM) is proposed, in which the technical efficiency of each node is calculated. For the development of the model, three main nodes were identified: exploration and production, industrial transformation and commercialization. Finally, NDM for the international oil industry will be structured, and efficiency will be calculated at the global level and at each node.

Findings

The analysis of the results of the application of the NDM raised that the most efficient node was exploration and production, whereas the efficient oil countries were the USA, France, the United Arab Emirates and Angola.

Research limitations/implications

The limitation presented in this investigation was the availability of data.

Practical implications

The practical implications of this type of study are that, through the results obtained, proposals can be made in the oil industry to improve each of the nodes or areas in which efficiency was not reached, as well as make better use of the resources available to this industry in each country.

Social implications

The social implications of this study are the basis for developing energy policies in the oil industry to help improve the quality of life of users.

Originality/value

The value and originality of this study is based on the joint implementation of the NDM methodology.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Open Access
Article
Publication date: 12 October 2021

Shengsheng Wang, Bangxi Li and Shan Gu

Different from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the…

Abstract

Purpose

Different from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the contradictory movement of the total social capital, that is, the reverse effect of the realization of surplus value on the production of surplus value.

Design/methodology/approach

The production of surplus value and the realization of surplus value are simplified into one process. This simplification eliminates the contradiction between the production and realization of surplus value, and the antagonistic contradiction between accumulation and consumption and the antagonistic production-distribution relationship in capitalist society are naturally covered up.

Findings

Therefore, it cannot explain the actual expansion way of the falling general rate of profit as the historical development law of capitalism. Nevertheless, it should be noted that the Okishio theorem places the analysis of the general rate of profit back into the social reproduction model with department equilibrium, which points out the significance of wage income to the realization of surplus value and outlines the macro mechanism of the realization of surplus value reacting to the production of surplus value. It also strongly promotes the research progress of the law that the profit rate tends to decline.

Originality/value

The mistake of the Okishio theorem is that the exchange process in the labor market forms the real wage rate. It determines the production price of wage goods, which thereby determines that the production price of capital goods and general rate of profit, the production of surplus value and realization of surplus value are simplified into the same process, and only the value that can be realized is the real value.

Details

China Political Economy, vol. 4 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 7 June 2021

Mai Mohsen Ibrahim, Ola Elkhawaga and Adla Ragab

This paper aims to study the inter-sectoral linkages in the Egyptian economy, to increase the efficiency of allocating L.E 100bn fiscal stimulus package (FSP) to tackle…

Abstract

Purpose

This paper aims to study the inter-sectoral linkages in the Egyptian economy, to increase the efficiency of allocating L.E 100bn fiscal stimulus package (FSP) to tackle the economic fallout from COVID-19 based on the strength of the backward and forward linkages of various sectors, and the values of both employment and value-added multipliers. The paper also measures the impact of the new FSP on the capability of various sectors in creating job opportunities and increasing economic growth.

Design/methodology/approach

The paper studies the intersectoral linkages by calculating backward and forward linkages index based on the latest input and output tables available for the Egyptian economy published in 2018. It also depends on a bivariate optimization model to distribute new investments allocated through the FSP based on the values of both employment and value-added multiplier for those sectors. The paper calculated both employment and value-added coefficients to measure the impact of the FSP on creating job opportunities and increasing growth rates.

Findings

Based on the results of the empirical analysis, both key sectors (with strong backward and forward linkages) and sectors with strong backward linkages have the highest impact on creating job opportunities and increasing growth rates in the Egyptian economy, which means that allocating FSPs in a way which targets those sectors, especially during economic crisis, could help in increasing the positive impacts of those packages.

Originality/value

The paper is based on the unbalanced growth theory of Hirschman and uses the empirical analysis to study the intersectoral linkages and allocate new investments through FSP through different sectors. The main policy implication of the empirical results of this paper suggests targeting the key sectors and the sectors with strong backward linkages during tough economic times related to COVID-19, to increase the positive impact of the package on the whole economy.

Article
Publication date: 17 September 2009

Cynthia Leung, Sandra Tsang, Suzanne Dean and Paully Chow

Socially disadvantaged parents often concentrate on providing for their children instead of stimulating them to learn because of their own low self‐efficacy as learning…

Abstract

Socially disadvantaged parents often concentrate on providing for their children instead of stimulating them to learn because of their own low self‐efficacy as learning agents. This study describes the development and pilot evaluation of a programme designed to empower new immigrant parents in Hong Kong to assume active, systematic and confident roles to teach their pre‐school children learning skills. A needs assessment was conducted to guide the development of the programme, which was also informed by research evidence and community engagement. A pilot trial was conducted and qualitative data were obtained from the participating parents. Parents reported improvements in their children's motivation to learn and the parent‐child relationship. The research provided information on programme design, delivery and implementation strategies. It suggested important entry points to engage and empower parents to provide timely stimulation to their young children.

Details

Journal of Children's Services, vol. 4 no. 1
Type: Research Article
ISSN: 1746-6660

Keywords

Article
Publication date: 5 June 2017

Chang-Soo Lee and Inkyo Cheong

The purpose of this paper is to calculate regional contents in the exports of the major regional blocs to the world, Trans-Pacific Strategic Economic Partnership (TPP)…

Abstract

Purpose

The purpose of this paper is to calculate regional contents in the exports of the major regional blocs to the world, Trans-Pacific Strategic Economic Partnership (TPP), and Regional Comprehensive Economic Partnership (RCEP), respectively, to find the backward trade linkages between them instead of normal forward linkages.

Design/methodology/approach

To calculate “a region” content in intermediate and value-added exports, this paper uses OECD’s inter-country input-output table (ICIOT), and tries to decompose the contents of trade. Using the information of ICIOT, Koopman et al. (2014) and Wang et al. (2013) decompose gross exports of a country’s exports.

Findings

TPP is a loosely tied bloc featured by openness to the Asia-Pacific region. Trade linkages between members are stronger in RCEP than those in TPP, particularly in the trade of intermediate goods. Trades in RCEP are closely connected to exports to TPP, but the opposite direction is not clear.

Research limitations/implications

First of all, the recent base year of the data on value added in trade is 2011, which can be regarded as a little bit out of date. Therefore, it should be cautious in interpreting the results in that it may not reflect the characteristics of current trade. Second, this paper uses ICOIT instead of world input-output table.

Practical implications

A large portion of trades in RCEP and TPP is triggered by a global production network (fragmentation, vertical specialization), different from traditional trade focusing on inter-industry trade or competition between countries. Thus, the formation of TPP or RCEP is predicted to stimulate trade of the other instead of discriminating nonmember countries.

Social implications

In particular, the authors have special concern in the backward linkages between RCEP and TPP, the distinct characteristics of the two regional blocs and, finally, major countries’ preferences of the one over the other and industrial conflicts toward TPP or RCEP even in an economy.

Originality/value

Although this paper uses the approach by Baldwin and Lopez-Gonzalez, this paper is the first research on the analysis of the export contents in major trading blocs in the Asia-Pacific region.

Details

Journal of Korea Trade, vol. 21 no. 2
Type: Research Article
ISSN: 1229-828X

Keywords

Open Access
Article
Publication date: 6 November 2017

Luis F. Aguado, Ana M. Osorio, Alexei Arbona and Jesús C. Peña-Vinces

A summary of the economic impact resulting from the celebration of a sporting mega-event in the city of Cali, Colombia, is carried out in this article.

1639

Abstract

Purpose

A summary of the economic impact resulting from the celebration of a sporting mega-event in the city of Cali, Colombia, is carried out in this article.

Design/methodology/approach

The impacts are estimated by means of the systematic effects produced by the activities of investment/expenditure of the identified agents and the consequent multiplying effects captured from an input-output model.

Findings

The World Games represented a new income flow to the city of Cali of $101.036 million pesos (≡US$53.4 mill.) and 9.598 jobs were created (≡7,711 full-time jobs). Additionally, 2,174 foreign tourists and 11,250 national tourists were attracted to the city.

Originality/value

The article contributes with innovative aspects methodologically speaking, useful for future studies of economic impact in cities with low tourism located in developing countries.

Details

Journal of Economics, Finance and Administrative Science, vol. 22 no. 43
Type: Research Article
ISSN: 2077-1886

Keywords

Book part
Publication date: 18 January 2022

Weilin Liu, Robin C. Sickles and Yao Zhao

This chapter estimates heterogeneous productivity growth and spatial spillovers through industrial linkages in the United States and China from 1981 to 2010. The authors…

Abstract

This chapter estimates heterogeneous productivity growth and spatial spillovers through industrial linkages in the United States and China from 1981 to 2010. The authors employ a spatial Durbin stochastic frontier model and estimates with a spatial weight matrix based on inter-country input–output linkages to describe the spatial interdependencies in technology. The authors estimate productivity growth and spillovers at the industry level using the World KLEMS database. The spillovers of factor inputs and productivity growth are decomposed into domestic and international effects. Most of the spillover effects are found to be significant and the spillovers of productivity growth offered and received provide detailed information reflecting interdependence of the industries in the global value chain (GVC). The authors use this model to evaluate the impact of a US–Sino decoupling of trade links based on simulations of four scenarios of the reductions in bilateral intermediate trade. Their estimation results and their simulations are as mentioned based on date that ends in 2010, as this is the only KLEMS data available for these countries at this level of industrial disaggregation. As the GVC linkages between the United States and China have expanded since the end of their sample period their results can be viewed as informative in their own right for this period as well as possible lower bounds on the extent of the spillovers generated by an expanding GVC.

Details

Essays in Honor of M. Hashem Pesaran: Prediction and Macro Modeling
Type: Book
ISBN: 978-1-80262-062-7

Keywords

Article
Publication date: 16 December 2021

Aparna Bhatia and Megha Mahendru

The purpose of this article is to evaluate revenue efficiency performance of life insurance companies in India. The study also compares if private or public insurance…

Abstract

Purpose

The purpose of this article is to evaluate revenue efficiency performance of life insurance companies in India. The study also compares if private or public insurance sector is more “revenue efficient”. Furthermore, the study determines the nature of return to scale (RTS) and identifies the leaders and laggards amongst insurance companies operating in India.

Design/methodology/approach

Revenue efficiency is calculated by employing data envelopment analysis – a non-parametric approach, on a data set of 24 insurance companies over the period 2013–2014 to 2017–2018.

Findings

The empirical results suggest that life insurance companies in India could generate only 34.4% of revenue, which is very less than what these are expected to generate from the same inputs. Majority of life insurance companies operating in India are operating at decreasing return to scale (DRS). There is a reduction in leaders and the highest proportion of companies is falling in the category of laggards.

Originality/value

As per the best knowledge of researchers, no empirical work has been carried out with respect to measuring the revenue efficiency of Indian insurance companies. The current study appropriately fills the gap by not only calculating the revenue efficiency scores of insurance companies in India but also provides insights into the causes of revenue inefficiencies. It also gives implications for efficient and effective management of insurance companies.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 16 February 2021

Navendu Prakash, Shveta Singh and Seema Sharma

The purpose of this study is to explore and evaluate potential nonmonotonicity in the determinants of profit efficiency, specifically IT and R&D investments in the Indian…

Abstract

Purpose

The purpose of this study is to explore and evaluate potential nonmonotonicity in the determinants of profit efficiency, specifically IT and R&D investments in the Indian commercial banking sector.

Design/methodology/approach

The study employs an alternative stochastic profit efficiency framework and introduces nonmonotonic effects by parameterizing the location and scale parameters of the inefficiency component on an unbalanced panel data set of 72 commercial banks in the 2008–2019 period. Marginal effects across quartiles are calculated using a bias-corrected and accelerated bootstrap procedure of 500 simulations. The study disaggregates across ownership and size for gauging the impact of structure on the associations between determinants of profit efficiency.

Findings

The study partially rejects the productivity paradox as it discovers a negative association of IT and R&D with profit inefficiency. However, the observed nonmonotonicity of IT is of significance for bank managers, as the study concludes that overinvestment in IT is detrimental to a bank’s profit-maximizing interests. Further, bank size, loan default and credit risk depict a nonmonotonic relationship across the sample with large banks, high NPAs and high credit risk associated with reducing profit efficiency. In addition, higher margins and greater diversification are related positively to efficiency, and banks with cost-heavy structures or having high liquidity risk associated negatively with efficiency.

Originality/value

To the best knowledge of the authors, the study is perhaps the first to acknowledge and incorporate nonmonotonic associations of IT investments amidst other exogenous determinants under a stochastic profit efficiency framework.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

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