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Article
Publication date: 5 March 2020

Bruno Felix

This study aims to understand the construction process of an organizational identity in a hybrid organization.

Abstract

Purpose

This study aims to understand the construction process of an organizational identity in a hybrid organization.

Design/methodology/approach

The author developed a single case study based on in-depth interviews, non-participant observations and document analysis in a credit cooperative.

Findings

After periods of changes in organizational identity (from idealism to pragmatism), the formation of a paradoxical organizational identity was observed in which the core value became a central polarity between idealism and pragmatism; after periods when members engaged in actions that promoted resistance or change, they framed past events in a story of stable dynamics between idealism and pragmatism; and pro-distinctiveness and -similarity forces in relation to other organizations were reconciled in a quest for optimal distinctiveness that simultaneously enabled the development of uniqueness and adequacy.

Originality/value

This is the first study to adopt a paradox perspective to analyze the identity of a cooperative.

Details

International Journal of Organizational Analysis, vol. 28 no. 6
Type: Research Article
ISSN: 1934-8835

Keywords

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Article
Publication date: 24 September 2021

Jose Perez-Montiel and Carles Manera

The authors estimate the multiplier effect of government public infrastructure investment in Spain. This paper aims to use annual data of the 17 Spanish autonomous…

Abstract

Purpose

The authors estimate the multiplier effect of government public infrastructure investment in Spain. This paper aims to use annual data of the 17 Spanish autonomous communities for the 1980–2016 period.

Design/methodology/approach

The authors use dynamic acyclic graphs and the heterogeneous panel structural vector autoregressive (P-SVAR) method of Pedroni (2013). This method is robust to cross-sectional heterogeneity and dependence, which are present in the data.

Findings

The findings suggest that an increase in the level of government public infrastructure investment generates a positive and persistent effect on the level of output. Five years after the fiscal expansion, the multiplier effects of government public infrastructure investment reach values above one. This confirms that government public infrastructure investment expansions have Keynesian effects. The authors also find that the multiplier effects differ between autonomous communities with above-average and below-average GDP per capita.

Originality/value

To the best of the authors’ knowledge, no research uses dynamic acyclic graphs and heterogeneous P-SVAR techniques to estimate fiscal multipliers of government public investment in Spain by using subnational data.

Details

Applied Economic Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN:

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Article
Publication date: 28 September 2021

Stephen Esaku

In this paper, the authors examine how economic growth shapes the shadow economy in the long and short run.

Abstract

Purpose

In this paper, the authors examine how economic growth shapes the shadow economy in the long and short run.

Design/methodology/approach

Using annual time series data from Uganda, drawn from various data sources, covering the period from 1991 to 2017, the authors apply the ARDL modeling approach to cointegration.

Findings

This paper finds that an increase in economic growth significantly reduces the size of the shadow economy, in both the long and short run, all else equal. However, the long-run relationship between the shadow economy and growth is non-linear. The results suggest that the rise of the shadow economy could partially be attributed to the slow and sluggish rate of economic growth.

Practical implications

These findings imply that addressing informality requires addressing underlying factors of underdevelopment since improvements in economic growth also translate into a reduction in the size of the shadow economy in the short and long run.

Originality/value

These findings reveal that the low level of economic growth is an issue because it spurs informal sector activities in the short run. However, as the economy improves, it becomes an incentive for individuals to operate in the informal sector. Additionally, tackling shadow activities in the short run could help improve tax revenue collection.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

Keywords

Content available
Article
Publication date: 3 August 2021

Ola Al Sayed, Ashraf Samir and Heba Hesham Anwar

This paper aims to assess the fiscal sustainability in Egypt during the period 1990–2018 using deficit accounts (DA) approach. It also tries to investigate the possibility…

Abstract

Purpose

This paper aims to assess the fiscal sustainability in Egypt during the period 1990–2018 using deficit accounts (DA) approach. It also tries to investigate the possibility of applying generational accounts (GA) in Egypt as a new approach to assess fiscal sustainability.

Design/methodology/approach

This paper tries to assess fiscal sustainability in Egypt during 1990–2018 using DA and GA approaches. DA approach includes primary deficit indicator, tax gap indicator, augmented Dickey-Fuller stationarity test for debt/GDP ratio and Johansen co-integration test between government revenues and expenditures. However, concerning the possibility of applying GA in Egypt, field study form was designed including specific questions to academic and executive economic experts to investigate if it is possible to apply GA in Egypt.

Findings

The empirical findings of the field study indicate that Egypt witnessed fiscal sustainability during the period 1990–2018 using DA. On the other hand, there are various obstacles, including administrative, technical, legal and political obstacles which hinder Egypt from applying GA to assess fiscal sustainability.

Originality/value

To the best of the authors' knowledge, this paper assesses fiscal sustainability in Egypt using DA for a longer and updated time series within 1990–2018. In addition, it is the first paper to examine the possibility of assessing fiscal sustainability using GA approach in Egypt.

Details

Review of Economics and Political Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2356-9980

Keywords

Content available
Article
Publication date: 3 August 2021

Rexford Abaidoo and Elvis Kwame Agyapong

This study examines how specific micro-level macroeconomic indicators influence corporate performance volatility among US corporate bodies in the short run.

Abstract

Purpose

This study examines how specific micro-level macroeconomic indicators influence corporate performance volatility among US corporate bodies in the short run.

Design/methodology/approach

The study employs error correction autoregressive distributed lagged (ARDL) model (ECM) to examine how micro-level variables influence volatility associated with corporate performance in the short run.

Findings

This paper finds that disaggregated or micro-level variables examined, tend to exhibit features that are not readily apparent from the aggregate variable from which such variables are derived. For instance, reported empirical estimate suggests that, growth in expenditures on services and nondurable goods tend to lower volatility associated with corporate performance, whereas government expenditures and expenditures on durable goods rather worsens volatility associated with corporate performance, all things being equal. Additionally, presented empirical estimates further provide evidence suggesting that macroeconomic uncertainty and inflation uncertainty significantly moderate or influence the extent to which disaggregated variables impact corporate performance volatility.

Originality/value

Compared to related studies in the reviewed literature, this study rather examines volatility associated with corporate performance instead of the corporate performance indicator itself. Additionally, this paper also examines how disaggregated variable instead of aggregate variables impact such volatility. Finally, the moderating role of key macroeconomic conditions in such a relationship is also examined.

Details

Journal of Money and Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2634-2596

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Article
Publication date: 17 August 2021

Rafael Acevedo, Jose U. Mora and Andrew T. Young

Mora and Acevedo (2019) report that the government spending multipliers in Latin American countries are notably higher than what is typically reported for developed…

Abstract

Purpose

Mora and Acevedo (2019) report that the government spending multipliers in Latin American countries are notably higher than what is typically reported for developed economies. Latin American countries have been inclined toward using procyclical fiscal policies. Those policies have been perceived as being effective at mitigating the effects of the 2008–2009 Great Recession. This study aims to estimate the government spending multiplier using Latin American panel data from 19 Latin American countries from 2000 to 2018. The estimates are conditional on the extent of openness, capital mobility and economic freedom. Based on the results, the latter is important: the less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

Design/methodology/approach

The authors provide regression results that are conditional on the extent of openness, capital mobility and economic freedom.

Findings

The less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

Originality/value

To the best of the authors’ knowledge, this is first study to estimate the fiscal multiplier conditional on economic freedom levels. The authors provide correctly calculated multipliers conditional on different levels of economic freedom. The authors point the way to future studies considering the effectiveness of fiscal policy conditional on institutional/policy quality.

Details

Journal of Financial Economic Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-6385

Keywords

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Book part
Publication date: 8 November 2019

Alena Kireyeva and Irina Loukianova

Fiscal policy is one of the weighty instruments of state regulation and is intended to ensure the creation of an institutional environment to reach the strategic…

Abstract

Fiscal policy is one of the weighty instruments of state regulation and is intended to ensure the creation of an institutional environment to reach the strategic objectives of sustainable development. This chapter is devoted to the study of the implementation of tax reform in Belarus. It analyzes the place of tax instruments in economic growth and investigates the strategic direction of tax reforms. The actual tax policy in Belarus is determined by the requirements of the national strategy of sustainable development which aims to ensure a stable financial basis for the development of society, economy, and environmental management. The historical and economic conditions of Belarus require an assessment of the local peculiarities of the use of tax instruments, which are now in force in leading countries. Therefore the study of foreign experience is complemented by an analysis of local conditions. Tax policy must ensure and support changes in national economies related to globalization, informatization and digitalization of the modern world, while maintaining the ideas of social justice. As a theoretical and practical tool for improving the quality of the tax system through the modernization of the incentives system, the concept of tax expenditures as a part of the budget process was investigated.

Details

Modeling Economic Growth in Contemporary Belarus
Type: Book
ISBN: 978-1-83867-695-7

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Article
Publication date: 6 April 2021

Opeoluwa Adeniyi Adeosun, Olumide Steven Ayodele and Olajide Clement Jongbo

This study examines and compares different specifications of the fiscal policy rule in the fiscal sustainability analysis of Nigeria.

Abstract

Purpose

This study examines and compares different specifications of the fiscal policy rule in the fiscal sustainability analysis of Nigeria.

Design/methodology/approach

This is methodologically achieved by estimating the baseline constant-parameter and Markov regime switching fiscal models. The asymmetric autoregressive distributed lag fiscal model is also employed to substantiate the differential responses of fiscal authorities to public debt.

Findings

The baseline constant-parameter fiscal model provides mixed results of sustainable and unsustainable fiscal policy. The inconclusiveness is adduced to instability in primary fiscal balance–public debt dynamics. This makes it necessary to capture regime switches in the fiscal policy rule. The Markov switching estimations show a protracted fiscal unsustainable regime that is inconsistent with the intertemporal budget constraint (IBC). The no-Ponzi game and debt stabilizing results of the Markov switching fiscal model further revealed that the transversality and debt stability conditions were not satisfied. Additional findings from the asymmetric autoregressive model estimation show that fiscal consolidation responses vary with contraction and expansion in output and spending, coupled with downturns and upturns in public debt dynamics in both the long and short run. These findings thus confirm the presence of asymmetries in the fiscal policy authorities' reactions to public debt. Further, additional evidences show the violation of the IBC which is exacerbated by the deleterious effect of the pro-cyclical fiscal policy response in boom on the improvement of the primary fiscal balance.

Originality/value

This study deviates from the extant literature by accommodating time variation, periodic switches and fiscal policy asymmetries in the fiscal sustainability analysis of Nigeria.

Details

African Journal of Economic and Management Studies, vol. 12 no. 2
Type: Research Article
ISSN: 2040-0705

Keywords

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Book part
Publication date: 1 March 2021

Aishanee Sinha and Taniya Ghosh

This chapter examines the impact of uncertainty about economic policy on the foreign direct investment (FDI) inflows in India. Uncertainty over domestic and international…

Abstract

This chapter examines the impact of uncertainty about economic policy on the foreign direct investment (FDI) inflows in India. Uncertainty over domestic and international economic policy adversely affects the international flow of goods, services, and investment. FDI is one of the most stable type of capital flows. FDI is considered to be more sensitive to policy uncertainty because higher fixed costs are involved in FDI than other types of capital flows. The authors estimate the impact of economic policy uncertainty on FDI inflows in the short and long run for India. The results of this study show that the policy uncertainty has a higher impact on FDI inflows in the long run than in the short run. It is known that FDI and GDP growth are positively related. Thus to attract more FDI inflows it is desirable to have predictable policies.

Details

Recent Developments in Asian Economics International Symposia in Economic Theory and Econometrics
Type: Book
ISBN: 978-1-83867-359-8

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Book part
Publication date: 4 March 2015

Rajmund Mirdala

Deficits in fiscal and current account balances in a large number of countries reveal interesting implications of the causal relationship between internal and external…

Abstract

Deficits in fiscal and current account balances in a large number of countries reveal interesting implications of the causal relationship between internal and external imbalances. Empirical evidence about the occurrence of so-called twin deficits or twin surpluses provides crucial information about the validity of an intertemporal approach. However, most recent dynamic cyclical changes during the crisis period revealed many questions about the direct interconnection between macroeconomic performance and twin imbalances. In the paper we observe substantial features of twin imbalances in European transition economies. Event study (identification of large fiscal and current account changes and their parallel occurrence) and vector auto-regression methods will be employed to examine key aspects of twin imbalances. Our results suggest that current account deteriorations were predominately associated with negative public investment and savings balances (fiscal deficits), while current account improvements were predominately associated with positive private investment and savings balances, confirming empirical evidence about twin deficits in European transition economies.

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