Search results

This chapter provides an empirical assessment of the effects of infrastructure provision on structural change and aggregate productivity using industrylevel data for a set of developed and developing countries over 1995–2010. A distinctive feature of the empirical strategy followed is that it allows the measurement of the resource reallocation directly attributable to infrastructure provision. To achieve this, a two-level top-down decomposition of aggregate productivity that combines and extends several strands of the literature is proposed. The empirical application reveals significant production losses attributable to misallocation of inputs across firms, especially among African countries. Also, the results show that infrastructure provision has stimulated aggregate total factor productivity growth through both within and between industry productivity gains.

The European Union’s Digital Markets Act (DMA) calls for far-reaching changes to the way economic activity will occur in EU digital markets. Before its remedies are imposed, it is critical to assess their impacts on individual markets, the digital sector, and the overall European economy. The European Commission (EC) released an Impact Assessment in support of the DMA that purports to evaluate it using cost/benefit analysis.

An economic evaluation of the DMA should consider its full impacts on dynamic competition. The Impact Assessment neither assesses the DMA's impact on dynamic competition in the digital economy nor evaluates the impacts of specific DMA prohibitions and obligations. Instead, it considers benefits in general and largely ignores costs. We study its benefit assessments and find they are based on highly inappropriate methodologies and assumptions. A cost/benefit study using inappropriate methodologies and largely ignoring costs cannot provide a sound policy assessment.

Instead of promoting dynamic competition between platforms, the DMA will likely reinforce existing market structures, ossify market boundaries, and stunt European innovation. The DMA is likely to chill R&D by encouraging free riding on the investments of others, which discourages making those investments. Avoiding harm to innovation is critical because innovation delivers large, positive spillover benefits, driving increases in productivity, employment, wages, and prosperity.

The DMA prioritizes static over dynamic competition, with the potential to harm the European economy. Given this, the Impact Assessment does not demonstrate that the DMA will be beneficial overall, and its implementation must be carefully tailored to alleviate or lessen its potential to harm Europe’s economic performance.

One in six people globally are affected by infertility, and many turn to fertility treatment in a bid to have a child(ren). While many countries offer work-related legislative protections and provisions for those who are successful in conceiving a child, in the form of maternity and paternity-related supports and protection again discrimination – the same cannot be said for those struggling to conceive. There are similar inequalities when it comes to workplace policy and support. Drawing on data from our two-year research study on “complex fertility journeys” and employment, this chapter sets out the work-life challenges that arise when individuals find themselves navigating the considerable “reproductive work” of fertility treatment alongside the demands of paid employment, and how affected employees respond. It also touches on the challenges experienced by line managers tasked with offering support. The chapter concludes with implications for practice in terms of making organizations more “fertility friendly,” which should extend beyond support for attending fertility treatment appointments to include awareness raising, manager training, and support for the varied outcomes of treatment cycles, including involuntary childlessness.

This chapter examines the impact of smart city projects on the economic and business environment, with a specific focus on their potential to foster innovation and entrepreneurship. It highlights how smart cities create an enabling environment for new businesses, start-ups, and promotes gender and green entrepreneurship, while enhancing urban properties and contributing to the overall entrepreneurial ecosystem. The exponential growth of smart city projects worldwide has underscored the critical relationship between smart cities and the entrepreneurial ecosystem for city prosperity and competitiveness. This chapter explores the interplay between smart cities and the economic environment, emphasizing their role as hubs for innovation and business creation. It analyzes the influence of smart city ecosystems and economic factors on local growth and economic outcomes, drawing on international research and factual data. This chapter evaluates the economic outcomes of smart cities, including their impact on the economic environment, business creation, start-ups, innovative and green companies, as well as gender entrepreneurship. This chapter emphasizes the significance of smart city implementation in driving economic advancements within both the urban and economic landscapes. Finally, this chapter concludes by presenting a conceptual framework that synthesizes the insights gained, providing a comprehensive understanding of the economic impact of smart cities and offering a roadmap for further exploration of this topic.

Measuring the diffusion of protests, or more generally, the diffusion of events, is an ongoing task in social sciences. This paper proposes an inter-event approach to study what types of protests tend to diffuse or decline. We develop a standardized, five-step procedure to measure what we define as “event diffusion momentum” (EDM): (1) employ event-based data containing information on the time, location, and features of each protest; (2) define the temporal and spatial ranges of interest; (3) for each observation, count the number of events before and after it within the defined ranges; (4) predict the numbers of post-event and pre-event protests with appropriate count models; (5) calculate the ratios of predicted values for each predictor and confidence intervals using the delta method. The ratio is the EDM. Applying this method to Dynamics of Collective Action (DoCA) data, we identify several micro- and macro-level factors associated with protest diffusion in the United States, 1960–1995. We conclude with the implications and generalizability of the proposed method.

It is important for stakeholders to understand the driving forces of the aviation industry and economic wellbeing and how these sectors are interconnected. This chapter studies the relationships between the African aviation industry and the economy. It is framed as a causal linkage considering the priority investment sector that enhances the sustainable wellbeing of the society. Analyses were conducted for 38 African countries using time series data from 1981 to 2019. The results show that causal relationships are heterogeneous and context-specific. Four patterns of causal relationships between air travel demand and the economy are identified: unidirectional causality in either directions; bidirectional causality; and indeterminate causal direction. However, the causal direction in any economic or policy-related matter may change with political reforms and changes to economic policy.

The goal of this chapter is to reexamine the nature and structure of the military–industrial complex (MIC) through the works of John Kenneth Galbraith. MIC, or military power as he prefers, is a coalition of vested interests within the state and industry that promoted the military power in the name of “national security” for their interests. Galbraith’s theory of giant corporations helps us understand the role of military corporations in the MIC. Moreover, he is a critical scholar in examining this topic because he was a political insider in the Roosevelt, Kennedy, and Johnson administrations and a prominent public intellectual against the Vietnam War. Against this background, this chapter has three parts. After explaining the development of military Keynesianism with respect to the main economic thoughts, it examines the history of the MIC and its impact on economic priorities during and after the Cold War through Galbraith’s works. Finally, this chapter discusses MIC’s relevancy today and evaluates Galbraith’s prophecies.

We analyzed the global historical change between 2007 and 2014, mainly emanating from economic and political games played between the USA and European countries starting with the Great Crisis and ending with Arab Spring, from the perspective of contemporary philosophy, and found that it not only growth reducing effect but also devastating effects on Middle East and North Africa (MENA) region due to the deterioration of governance. This chapter, by conducting empirical analysis, brings new definitions to existing concepts such as rules of the game, homosapien and sage. The Great Crisis is not a global crisis, but a trans-Atlantic financial crisis initiated by the incapable corporate governance of US-based financial multinational corporations (MNCs). The crisis faced by MENA countries that are exposed to Arab Spring as of 2012 is not the economic spillover effect of the Great Crisis but a consequence of political destabilization as a result of deteriorating governance structures in the region by developed countries under the name of Arab Spring. Not the entire-region, but only the countries exposed to Arab Spring, have experienced negative growth.

This study aimed to know the effect of cross-sectional risk, which comprises business-specific risk and stock market volatility, as a variable for estimating macroeconomic risk in Indonesia. This study observes public companies in Indonesia and Indonesian macroeconomic data from 2004 to 2020. In this study, the author uses term spread as the dependent variable that reflects macroeconomic risk. The cross-sectional risk comprises financial friction (FF), cash flow (CF), debt–service ratio, and stock market volatility as independent variables. By using the Autoregressive Distributed Lag (ARDL) Model method, this study shows that business-specific and stock market risk can estimate macroeconomic risk, so that it becomes an early signal of economic shock, such as recession or high inflation, in the future. The model in this study also examines the cross-sectional risk relationship with other macroeconomic indicators, such as the Consumer Confidence Index (CCI), money supply (M0), and Indonesia’s trade balance (TB).

The main problem addressed by this research is the current debate between the negative and positive effects of industrial clusters. This debate is a result of gaps between theoretical implications and empirical evidence in both the classical agglomeration theory and the agglomeration lifecycle theory. The purpose of this study is to propose a framework for developing an index measuring both organizational cluster involvement and organizational supply chain including the three pillars (economic, social, and environmental). Furthermore, the index acts as a quantitative predictor of the stages of the life cycle of industrial clusters. Adopting a case study methodology, the applicability of the index development framework is demonstrated. First, cross-sectional exploratory interviews are performed to locate items measuring the three pillars of organizational sustainability within Egyptian communication industry. Second, an explanatory, cross-sectional approach is applied gathering data from eight professionals related to involvement and supply chain sustainability of their organizations. Analytical hierarchical process is used for weighting and aggregating individual item metrics into two indicators (Saaty, 1980). Measuring, managing, and controlling capabilities of organization's supply chains outweighs the need to manage risks. The proposed framework aids firms within a cluster in making timely decisions about what needs addressing to improve supply chain sustainability performance. Hence, all environmental, social, and economic capabilities can be effectively monitored and controlled.