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1 – 10 of 187
Article
Publication date: 29 August 2022

Amanpreet Kaur, Vikas Kumar, Rahul Sindhwani, Punj Lata Singh and Abhishek Behl

Due to the financial disturbances created by the COVID-19 pandemic and the burden on the government exchequer, it is expected to see a rise in the knowledge base of the research…

430

Abstract

Purpose

Due to the financial disturbances created by the COVID-19 pandemic and the burden on the government exchequer, it is expected to see a rise in the knowledge base of the research corpus so far as the government's fiscal sustainability is concerned. Therefore, the present research examines a systematic quantitative analysis of public debt sustainability research by applying a bibliometric approach. Research also analyzes journals, institutions, countries and authors contributing to public debt sustainability.

Design/methodology/approach

This paper scrutinizes the published scientific research on public debt sustainability based on the dataset of 535 articles from 1991 to 2021 obtained from the Scopus database. Biblioshiny (R-based application) and VoSviewer software were used to perform bibliometric analysis through Performance analysis and science mapping techniques. The authors combined co-citation analysis (CCA), bibliometric analysis, keyword co-occurrence analysis (KCA) and a conceptual thematic map of the most cited articles to find the intellectual structure.

Findings

The research identified three dominating clusters, e.g. fiscal sustainability and policy rules, empirical sustainability testing and debt and growth dynamics. Another finding was that most articles were analytical and empirical and few descriptive articles were found. Owing to the empirical nature of the domain, the issues concerning public debt sustainability have continued to change over the past decades for different economies, reflecting the complexity and diversity of economic structures of different economies at different times.

Originality/value

The insight of this article provides academicians and researchers with a more refined comprehension of the conceptual and intellectual structure of the research corpus. The present research complements the existing literature review studies by pushing the research towards emerging or less developed issues such as financial and debt crises.

Details

International Journal of Emerging Markets, vol. 19 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

Open Access
Article
Publication date: 1 December 2023

Gianni Carvelli

The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and…

Abstract

Purpose

The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and econometric issues of the phenomenon like non-stationarity, fiscal feedback effects, persistence in productivity, country heterogeneity and unobserved global shocks and local spillovers affecting heterogeneously the countries in the sample.

Design/methodology/approach

The paper is empirical. It builds an Error Correction Model (ECM) specification within a dynamic heterogeneous framework with common correlated effects and models both reverse causality and feedback effects.

Findings

The results of this study highlight some new findings relative to the existing related literature. The outcomes suggest some relevant evidence at both the academic and policy levels: (1) the causal effects going from fiscal deficit/surplus to TFP are heterogeneous across countries; (2) the effects depend on the time horizon considered; (3) the long-run dynamics of TFP are positively impacted by improvements in fiscal budget, but only if the austerity measures do not exert slowdowns in aggregate growth.

Originality/value

The main originality of this study is methodological, with possible extensions to related phenomena. Relative to the existing literature, the gains of this study rely on the way econometric techniques, recently proposed in the literature, are adapted to the economic relationship of interest. The endogeneity due to the existence of reverse causality is modelled without implying relevant performance losses of the models. Moreover, this is the first article that questions whether the effects of fiscal budget on productivity depend on the impact of the former on aggregate output growth, thus emphasising the importance of the quality of fiscal adjustments.

Details

Journal of Economic Studies, vol. 51 no. 9
Type: Research Article
ISSN: 0144-3585

Keywords

Book part
Publication date: 8 April 2024

Ladislava Issever Grochová and Michal Škára

This chapter examines the impact of sectoral indebtedness on GDP in Czechia, initially a low-indebted small open economy in which debt dynamics are becoming a major concern. The…

Abstract

This chapter examines the impact of sectoral indebtedness on GDP in Czechia, initially a low-indebted small open economy in which debt dynamics are becoming a major concern. The impact of household debt, non-financial corporation debt and public debt is analysed with the use of local projections based on instrumental variable estimations. The results show a more pronounced influence of household debt compared to non-financial corporation and government debt. Initially, increasing household debt stimulates short-run economic activity, but in the medium run, it limits household consumption and negatively affects output. This negative impact gradually turns into a positive effect in the long run. Non-financial corporation debt has a negative short- to medium-run impact but can have a small positive effect in the long run due to the prevalence of tradable industries. Public debt initially has a short-run negative impact, but then gradually becomes positive. Overall, the findings have implications for macroeconomic policies and the importance of monitoring financial stability.

Details

Modeling Economic Growth in Contemporary Czechia
Type: Book
ISBN: 978-1-83753-841-6

Keywords

Book part
Publication date: 8 April 2024

Zuzana Szkorupová, Radmila Krkošková and Irena Szarowská

The aim of this chapter is to examine the nominal and real convergence of Czechia. The importance of the convergence of Czechia with the euro area is linked to the future…

Abstract

The aim of this chapter is to examine the nominal and real convergence of Czechia. The importance of the convergence of Czechia with the euro area is linked to the future intention of joining the Economic and Monetary Union after the Maastricht criteria are met. This chapter covers the period from 2004 to 2021. We argue that nominal convergence is relative to the Maastricht criteria, when real convergence focuses on different areas: the Maastricht criteria, gross domestic product (GDP) per capita in purchasing power standards and real GDP growth rate, labour market (minimum labour costs and unemployment rates. Findings suggest that Czechia has reported the strongest real convergence in the area of relative economic level, moderate convergence of labour costs and divergence of unemployment. The nominal convergence analysis suggests that Czechia will not meet the Maastricht benchmarks in the near future and is not ready to join the euro area given its high inflation rate and the state of public finances.

Details

Modeling Economic Growth in Contemporary Czechia
Type: Book
ISBN: 978-1-83753-841-6

Keywords

Book part
Publication date: 8 April 2024

Irena Szarowská

Government spending plays a crucial role in fiscal policy in any country, both as a tool for implementing individual government policies and as a possible instrument for…

Abstract

Government spending plays a crucial role in fiscal policy in any country, both as a tool for implementing individual government policies and as a possible instrument for mitigating uneven economic developments and economic shocks. This chapter provides direct empirical evidence on the development and structure of general government expenditure and its relationship with real economic growth in Czechia and the European Union countries. Compared to theoretical recommendations, general government expenditure has not been used as a stabiliser in Czechia and EU countries and has been observed to be pro-cyclical in the period under review. Granger causality analysis identified the direction of causality between the macroeconomic variables analysed and found that in most cases economic growth came first, followed by government spending.

Details

Modeling Economic Growth in Contemporary Czechia
Type: Book
ISBN: 978-1-83753-841-6

Keywords

Article
Publication date: 27 March 2024

Toan Khanh Tran Pham and Quyen Hoang Thuy To Nguyen Le

The purpose of this study is to explore the relationship between government spending, public debt and the informal economy. In addition, this paper investigates the moderating…

Abstract

Purpose

The purpose of this study is to explore the relationship between government spending, public debt and the informal economy. In addition, this paper investigates the moderating role of public debt in government spending and the informal economy nexus.

Design/methodology/approach

By utilizing a data set spanning from 2000 to 2017 of 32 Asian economies, the study has employed the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). The study is also extended to consider the marginal effects of government spending on the informal economy at different degrees of public debt.

Findings

The results indicate that an increase in government spending and public debt leads to an expansion of the informal economy in the region. Interestingly, the positive effect of government spending on the informal economy will increase with a rise in public debt.

Originality/value

This study stresses the role of government spending and public debt on the informal economy in Asian nations. To the best of the authors' knowledge, this study pioneers to explore the moderating effect of public debt in the public spending-informal economy nexus.

Details

International Journal of Sociology and Social Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-333X

Keywords

Expert briefing
Publication date: 19 March 2024

This follows a January agreement with official creditors, who are owed approximately USD5.4bn. That allowed the country to receive the second disbursement of USD600mn from the IMF…

Details

DOI: 10.1108/OXAN-DB285934

ISSN: 2633-304X

Keywords

Geographic
Topical
Book part
Publication date: 8 April 2024

Jana Janoušková and Šárka Sobotovičová

It is important to consider economic and political factors when designing the tax mix and setting the level of corporate taxation. Increasing corporate taxation can be seen as an…

Abstract

It is important to consider economic and political factors when designing the tax mix and setting the level of corporate taxation. Increasing corporate taxation can be seen as an inefficient way to raise revenue for the state, as it can have a negative impact on investment and the competitiveness of firms. However, lowering corporate taxation can encourage investment and job creation, but it can also be perceived as supporting large corporations. The aim of this chapter is to evaluate corporate taxation, its position in the tax mix and its potential impact on economic growth. The revenues of corporate income tax (CIT) have an increasing tendency even though the tax rate was reduced from 41% to 19%. Revenues are influenced by both legislative changes and economic cycles. The level of taxation is also influenced by deductions, which include asset depreciations, research and development expenses, or loss deductions. The Pearson Correlation Coefficient was used to examine the correlation between the selected factors. A moderately strong positive correlation was found between GDP growth and CIT as a percentage of total taxes, as well as between GDP growth and CIT as a percentage of GDP.

Details

Modeling Economic Growth in Contemporary Czechia
Type: Book
ISBN: 978-1-83753-841-6

Keywords

Article
Publication date: 4 March 2024

Veli Durmuş

Decentralization has profound implications for many health systems. This study investigates the effect of health system decentralization in Organization for Economic Co-operation…

Abstract

Purpose

Decentralization has profound implications for many health systems. This study investigates the effect of health system decentralization in Organization for Economic Co-operation and Development (OECD) countries on public health security capacity and health service satisfaction.

Design/methodology/approach

Multiple linear regression analyses were employed for variables related to the level of health security capacity and satisfaction with the healthcare system while controlling for all socio-demographic variables from the European Social Survey, including over 44,000 respondents from 25 OECD countries. The Health Systems in Transition series of countries were used for assessing the decentralization level.

Findings

The result of multiple linear regression analyses showed that the level of decentralization in health systems was significantly associated with higher health security capacity (ß-coefficient 3.722, 95% confidence interval (CI) [3.536 3.908]; p=<0.001) and health service satisfaction (ß-coefficient 1.463, 95% CI [1.389 1.536]; p=<0.001) in the study. Countries with a higher level of decentralization in health policy tasks and areas were significantly likely to have higher health services satisfaction, whereas this satisfaction had a significant negative relation with the lower level of decentralization status of secondary/tertiary care services in OECD countries (ß-coefficient −5.250, 95% CI [−5.757–4.743]; p = 0.001).

Originality/value

This study contributes to a better understanding of the extent to which decentralization of health services affects public health safety capacity and satisfaction with health services, whereas the level of decentralization in OECD countries varies considerably. Overall, the findings highlight the importance of public health security and satisfaction with health care delivery in assessing the effects of decentralization in health services.

Details

Journal of Health Organization and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1477-7266

Keywords

Article
Publication date: 4 November 2022

Atsushi Katsuda, Yoshiyuki Naito and Toshihiko Ishihara

In Japan, health-care systems have long been supported by physicians' long working hours. To solve this problem, there is an urgent need to improve the working environment for…

Abstract

Purpose

In Japan, health-care systems have long been supported by physicians' long working hours. To solve this problem, there is an urgent need to improve the working environment for physicians while practicing patient-centered medicine and controlling health-care costs. This paper aims to examine the effect of task shifting to nurses and discuss its usefulness from the perspective of health-care value co-creation.

Design/methodology/approach

This paper analyzes task shifting to nurses in acute care hospitals in Japan as a solution for the shortage of anesthesiologists. The authors discuss how the value was created from the perspective of the health-care ecosystem, with conceptual consideration of the value co-creation mechanism through patient-centered practices.

Findings

The study showed that task shifting initiatives in Japan can improve the motivation of nurses through human resource development while maintaining high quality. The study also suggested that task shifting from physicians to nurses may contribute to improving net income and maintaining the health-care system.

Practical implications

The findings are highly reproducible and can be immediately applied to initiatives at other medical institutions in Japan. Furthermore, it is suggested that these findings might provide some perspective on the realignment of fragmented healthcare in the USA.

Originality/value

It was confirmed in practical terms that micro-level initiatives have an impact on the macro level as well. In addition, the academic presentation of the concept has contributed to the deepening of value research.

Details

The TQM Journal, vol. 36 no. 3
Type: Research Article
ISSN: 1754-2731

Keywords

1 – 10 of 187