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The purpose of this article is to investigate the impact of Confucianism on growth under different political regimes.

The empirical specification adopts a two-regime panel threshold model proposed by Hansen (1999) to endogenously divide our country sample into two-regime-types – autocracy and democracy – according to a country's democratic stock or experiences.

The results show that the effect of Confucianism on growth exhibits an asymmetrical pattern depending on the status of a country's political democracy. Only when a moderate level of freedom has already been attained can Confucianism have a positive effect on growth. Conversely, for autocracies whose democratic institutions cannot pass a certain threshold, Confucianism has a very limited effect in terms of changing economic activity.

If the data with different sample years and/or different sample countries are used, the research results may lack generalizability. Further tests of the two-regime model with different data sizes are encouraged.

The authors use the World Values Survey (WVS) map to identify the countries under the influence of Confucianism. The authors emphasize that focusing only on political geography may overlook the information from the spread of cultural traits that accompanied the migration of people. So, based on the Confucian countries suggested by the WVS and the migration matrix of Putterman and Weil (2010), an immigration-based Confucianism variable was constructed. To accommodate different effects of Confucianism on growth in different phases of political development, the empirical specification adopts an asymmetrical pattern to investigate the impact of Confucianism on economic performance.

In this research, we examine the role of financial development, FDI, democracy and political instability on economic growth in West Africa.

The study uses the dynamic fixed effects technique on the secondary data obtained from 1996 to 2016.

Our empirical findings suggest that even though no significant relationship is established in the short run, the long-run coefficient of FDI is found to be significant and positive; a 1% increase in FDI inflow into the West African sub-region results in a 0.26% increase in economic growth. The coefficient of democracy is significant neither in the short run nor in the long run, but political instability is found to significantly and negatively impact the growth of the countries. Finally, the estimate of financial development–growth nexus follows the supply-leading hypothesis.

This research affirms the proposition that FDI is a relevant means of technology and knowledge transfers, thus resulting in increasing returns to production as a result of productive spillovers, which drives the growth of the economy. Consequently, an efficient institution – where the rule of law, political stability and economic freedom are top priorities – is a key to accelerate the growth of the West African economy. Similarly, we confirm the validity of the supply-leading hypothesis in West Africa. As such, by deepening the financial system, the growth of the subregion is propelled because an efficient financial system is a basis for sustainable development.

The applicable policies are those that promote growth through FDI, financial development, democracy and political instability. The governments of West African countries are enjoined to promote policies that attract FDI into the subregion and promote financial sector credits so that economic performances may be enhanced. In addition, the governments of West African subregion should fully entrench democratic practices and enhance a stable and sustainable political environment. This will not only restore investor confidence but will also facilitate the inflow of FDI into the West African economy.

Our study is the first to jointly examine these important growth determinants, especially in the context of West Africa. This becomes necessary in order to open the eyes of policy makers to the need for entrenched full democracy and to proffer sustainable cures to the frequent unrests in the subregion. The use of Pesaran (2007) technique of unit root is also a deviation from several existing studies. One advantage of this technique over others is that being a second-generation test, it tests variable unit root in the presence of cross-sectional dependence.

The main objective of this study is to examine how political institutions affect economic performance in Ethiopia over the 1980–2019 time periods.

Mainly, the impact of political institution indicators including, level of democracy, political violence, democratic accountability and regime durability have been examined using auto regressive distributed lag (ARDL) bound test approach to co-integration and the error correction model.

This study confirms that level of democracy and democratic accountability has an adverse long effect on the economic performance of Ethiopia. On the other hand, political violence has a negative short-run causal effect on economic performance in Ethiopia. The study concluded that the deterioration of political institutions harmfully affected economic performance in Ethiopia.

Government policymakers should primarily pay attention to promoting and changing those political institutions that harm economic performance. Additionally, better management of political violence has important implications for fostering the economic performance of Ethiopia.

This study provides some valuable evidence on the nexuses between political institutions and economic performance in Ethiopia. Likely, this is the first investigation on the subject under the consideration to use time analysis and will vigorously contribute to the literature as well by employing the ADRL bound test. Previous studies have examined the impact of the institution on economic growth on a cross-country basis. Further analysis is required to understand the effects of institutions such as level of democracy, political violence and democratic accountability on economic development.

This paper investigates whether democracy plays a mediating role in the relationship between foreign direct investment (FDI) and inequality in Sub-Saharan Africa (SSA).

The empirical analysis is conducted using fixed effects and system GMM (Generalised Method of Moments) on a panel of 38 Sub-Saharan African countries covering the period of 1990–2018.

The results find that FDI has no direct effect on inequality whereas democracy reduces inequality directly in both the short run and the long run. The sensitivity analyses find that democracy improves equality regardless of the magnitude of FDI, resource endowment or democratic deepening whereas FDI only reduces inequality once a moderate level of democracy has been achieved.

The results discussed above thus have four policy implications. First, these results show that although democracy has inequality reducing benefits, SSA is unlikely to significantly reduce inequality unless the region purposefully diversifies its trade and FDI away from natural resources. Second, the region should continue to expand credit access to reduce inequality and attract FDI. Third, policymakers should undertake reforms that will reduce youth inequality. Lastly, the region should focus on long-run democratic reforms rather than on short-run democratization to improve governance and investor confidence.

Although there are existing studies that examine the association between FDI and inequality, FDI and democracy and democracy and inequality, this is the first study to explicitly examine the effect of democracy on the association between FDI and inequality in SSA, and the first study to separately consider the possible varied effects of contemporaneous democratization versus the long-run accumulation of democratic capital. In addition, rather than measure inequality by income alone, this study uses the more appropriate Human Development Index to account for SSA's sociological, education and income disparities.

The article investigates whether variety of democracy affects the probability to employ public subsidies for credit support by small- and medium-sized enterprises (SMEs) led by female entrepreneurs.

Building on the literature on democracy and on gender differences, it leverages a large firm- and country-level dataset (SAFE) of 31 democracies in Europe (EU and non-EU) over the 2009–2014 period by using probit models and instrumental variable approaches.

Results from the different econometric techniques and samples suggest that variety of democracy affects female-led SMEs in using public subsidies for credit support. The evidence is robust to endogeneity concerns.

The empirical evidence presents a time frame limitation. At the same time, SAFE is the only database that supplies information about the gender of firms and public subsidies for credit support, rendering it the only resource that allows the test of the hypothesis proposed. The article therefore offers insights for scholars to revisit our results in future studies that make use of datasets with a longer time span – when they will become available.

To the best of the authors' knowledge, the article is the first to study the effect of democracy on female entrepreneurial behavior in the use of public subsidies for credit support.

This paper aims to examine the USA's policy toward Myanmar or Burma, analyzing the bilateral relationship between the two countries from the pre-colonial period to the present day. It highlights the implications of political shifts in the system of government in Myanmar for the bilateral relationship with the USA, particularly after the 1962 coup and the emergence of rising regional powers like China. The paper also shows how the economic role of Myanmar has increased, leading to more equal relations with the United States of America.

This paper employs a qualitative research design, analyzing data from both primary and secondary sources. The methodology includes a literature review and document analysis to gain a comprehensive understanding of the USA–Myanmar bilateral relationship. The research also analyzes political and economic developments in Myanmar and the region, placing the USA policy in a broader context.

The research finds that the USA has been an influential player in Myanmar's politics and economy. However, with Myanmar's integration into the Chinese Belt and Road Initiative and its accession to Association of Southeast Asian Nations (ASEAN), its economic role has become more significant, leading to a more balanced relationship with the USA. The paper also shows that the USA's policy toward Myanmar has undergone significant changes, particularly after the 2011 easing of sanctions by former President Barack Obama.

Although many works have traced the history of USA–Myanmar ties, this study provides a fresh perspective by setting past events against the backdrop of contemporary geopolitical upheavals, therefore highlighting the complex evolution of their bilateral dynamics. The paper contributes to the literature on the USA–Myanmar bilateral relationship by providing a comprehensive analysis of the relationship from a historical perspective. The research also adds to the discussion of the implications of political and economic developments in Myanmar for the bilateral relationship with the USA. The findings of this study have important implications for policymakers and scholars interested in the USA's role in Southeast Asia and its relations with rising regional powers like China.

The effectiveness of fiscal policy is an interesting field in literature of macroeconomics. The purpose of this paper is to investigate the effects of fiscal policy on economic growth under contributions from the differences in institutions and external debt levels.

The authors use panel data from 2002 to 2014 from 20 emerging markets and use GMM estimators for unbalanced panel data.

The results show positive growth effects of fiscal policy across emerging markets in the examined periods. Notably, the improvement in institutions promotes higher crowding-in effects of fiscal policy. In addition, this paper finds interesting evidences that the external debt has non-linear effects on economic growth, whereas the heterogeneous effects of fiscal policy on economic growth as positive effects in low indebted level and negative effect in high indebted level may explain the mechanism of this non-linear relationship.

This study proposes the non-linear relationship of fiscal growth effects in emerging economies under the dynamic of debt levels.

The purpose of this paper is to explore to what extent the economic interdependence can affect the likelihood of conflict between States. Specially, over the past few decades, there has been a huge interest in the relationship between economic interdependence and political conflict. Liberals argue that economic interdependence lowers the possibility of war by increasing the weight of trading over the alternative of aggression; interdependent states would rather trade than invade; realists dismiss the liberal argument, arguing that high interdependence increases rather than decreases the probability of war. In anarchy, states must constantly worry about their security.

This paper highlights the content and level of economic interdependence between China and the USA since the beginning of China’s economic reform in 1979 and examines the impact of economic interdependence between them on their relationship toward Taiwan since 1995 and the probability of conflict.

Economic interdependence is proved to significantly decrease the onset of conflict between the two parties. This can be shown by comparing the number of armed conflicts during the pre-interdependence period to the number of armed conflicts after the economic interdependence there was an overage of 0.79 militarized interstate disputes (MIDs)/year, compared to 0.26 MIDs/year following China’s economic reforms; also, the length of the hostilities was longer during the pre-interdependence period (with an average of 11.13 months versus 5.33 months).

This means that economic interdependence does not completely prevent the outbreak of international conflicts, but it also plays a major role in influencing the conflict in terms of the conflict’s intensity, the use of armed force and the number of conflicts that occur between the economic interdependence states.

In Italy, worker cooperatives (WCs), whose workers hold major control rights over collectively-owned assets, are the leading vehicle for the promotion and development of employee ownership. Worker cooperatives are present in all regions and in most economic sectors, employing about 506,000 workers and generating a turnover of about €22 bn. Despite their history and diffusion, the high prevalence of WCs in Italy is under-researched and -thematised and requires new research.

The paper leverages unpublished primary and secondary data from Centro Studi Legacoop databank, the Aida-Bureau Van Dijk databank and the Cooperative Registry of the Ministry of Economic Development (CRMED) to explain the spread of WCs in Italy.

This paper reveals descriptive statistics of WCs and investigates their distribution across economic sectors and regions, their economic and financial performance and gives an overview of the relevant legislation. The paper indicates that older small- and medium-sized cooperatives located in central and north-eastern Italy perform best economically. However, in recent years, an increasing number of young cooperatives has emerged in South Italy thanks to favourable legislation, cooperative finance and the diffusion of cooperative know-how. Limitations to such results are reported in the conclusions.

The paper sheds light on past and recent development trends of WCs in Italy, highlights their growth in South Italy and revitalises the debate on the drivers, structures and rationales of employee-owned enterprises in Italy. Findings generate implications for research and practice. Given the tendency of WCs to better protect jobs than investor-owned enterprises, the spread of these enterprises may help workers find better and more stable jobs, counter-cyclically mitigating the dangerous effects of macro- and meso-economic fluctuations and instability.

This article intends to analyse the explanatory power of the Travel and Tourism Competitiveness Index (TTCI) and some of its constituent factors on national success metrics in managing the initial surge of the COVID-19 pandemic.

The authors study the outbreak control effectiveness of 132 countries during the first semester of 2020. The authors apply generalized linear regression models and weighted least squares models using 6 COVID-19-related dependent variables, 9 TTCI-related independent variables and 12 control variables.

The results suggest that countries with superior TTCI values and selected constituent factors have the highest daily averages of coronavirus infections and fatalities per million and the highest speed rates of COVID-19 spread. The authors also find that these countries have the shortest government response time, the lowest daily average of the social restrictions index and the shortest time from the first case reported in China to the first case reported nationally.

To the best of the authors' awareness, no previous study exists analysing the statistical relationship between the TTCIB and some of its constituent factors with the selected metrics of national success at managing the initial surge of the COVID-19 pandemic. This fact represents the primary evidence of this article's unique contribution.

本文擬分析旅行及觀光競爭力指數、以及其部份構成因素，如何影響有關國家在新型冠狀病毒肺炎大爆發初期控制病毒傳播方面的成功指標。

我們就132個國家於2020年上半年控制肺炎爆發方面的表現進行研究。我們以廣義線性回歸模型和加權最小平方法進行分析研究，當中使用了六個與新型冠狀病毒肺炎有關的因變數、九個與旅行及觀光競爭力指數有關的自變數、和12個控制變量。

研究結果暗示、在擁有優越的旅行及觀光競爭力指數值和選定的構成因素的國家，以百萬人來計算，每日冠狀病毒感染及死亡的平均數字是最高的; 而且，新型冠狀病毒肺炎的傳播速度也是最高的。研究結果亦顯示、在這些國家，政府反應所需的時間是最短的，社會限制指數的日均值是最低的，以及首宗在中國被報導的個案與首宗在有關的國家被全國性地報導的個案之間的時間距是最短的。

盡作者們所知，從前似沒有相關的研究、以國家在新型冠狀病毒肺炎大爆發初期成功控制病毒傳播的選定指數、來分析旅行及觀光競爭力指數與其部分構成因素之間的統計關係; 這正是本文所作獨特貢獻的基本證據。