Search results

1 – 10 of over 59000
Article
Publication date: 10 April 2017

Kwami Adanu

The purpose of this paper is to explain the African socio-economic development and policy design problems using the new institutional economics methodology. The paper…

Abstract

Purpose

The purpose of this paper is to explain the African socio-economic development and policy design problems using the new institutional economics methodology. The paper emphasizes the importance of carefully considering the policy environment setting before changing the rules of the society (institutional change) and making policy choices.

Design/methodology/approach

A conceptual approach is used to explain why major economic development policies fail in Africa and the developing world as a whole. To illustrate policy-environment-dependent institutional and policy change decision making, examples of potential institutional and policy changes are examined for Ghana’s financial, retail, and land resource sectors.

Findings

It is argued that the concept of institutional efficiency must be looked at quite differently from the Pareto-optimal concept in the neoclassical economic theory. This is because institutional analysis leans more toward normative rather than positive economics. The paper explains the counterintuitive findings that although the African business environment is low on trust due to high ethnic diversity, African business depends more on trust than contracts –weak enforcement of institutions accounts for such twists. Potential institutional changes that can help address specific socio-economic developmental challenges are suggested based on the characteristics of the African business environment.

Research limitations/implications

The paper lays bare several research hypotheses that can now be tested using the available data. These include hypotheses that strong economic growth precedes growth in the stock market activity (not the other way round); an asymmetric Tobin tax that taxes conversion into foreign currencies more than conversion into local currency reverses local currency depreciation; and for import-dependent countries, strengthening the local currency provides a positive shock to local production and budget balance.

Originality/value

The paper illustrates the pitfalls associated with blanket application of theoretical frameworks without proper contextualization. A promising way out for weak African economies is to adapt the theoretical economic predictions to local environments and help refine general economic theory through their experiences.

Details

International Journal of Social Economics, vol. 44 no. 4
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 28 October 2019

Geoffrey M. Hodgson

In his article on “What Is Still Wrong with Austrian economics?,” Peter Boettke considers matters of strategy for the Austrian school and stresses the importance of…

Abstract

In his article on “What Is Still Wrong with Austrian economics?,” Peter Boettke considers matters of strategy for the Austrian school and stresses the importance of institutions and institutional analysis. This comment takes up both themes. Two possible strategies for institutional research are considered. Then the place and role of institutions in Austrian analysis are addressed. It is argued that Austrian thinking has been caught in a dilemma between making theory as general as possible, or of taking on board the historically specific character of key institutions in market economies. The different approaches of Ludwig Mises and Carl Menger to this quandary are compared, with attention to the central concepts of property and capital.

Details

Assessing Austrian Economics
Type: Book
ISBN: 978-1-78973-935-0

Keywords

Abstract

Details

Handbook of Transport Geography and Spatial Systems
Type: Book
ISBN: 978-1-615-83253-8

Article
Publication date: 11 July 2016

Colin C Williams and Ioana Alexandra Horodnic

The purpose of this paper is to propose a new way of explaining participation in the informal economy as resulting from the asymmetry between the codified laws and

1377

Abstract

Purpose

The purpose of this paper is to propose a new way of explaining participation in the informal economy as resulting from the asymmetry between the codified laws and regulations of a society’s formal institutions (government morality) and the norms, values and beliefs of the population that constitute its informal institutions (societal morality). The proposition is that the greater the asymmetry between government morality and societal morality, the greater is the propensity to participate in the informal economy.

Design/methodology/approach

To evaluate this institutional asymmetry theory, the results are reported of 1,306 face-to-face interviews conducted during 2013 in the UK.

Findings

The finding is a strong correlation between the degree of institutional asymmetry (measured by tax morale) and participation in the informal economy. The lower the tax morale, the greater is the propensity to participate in the informal economy. Using ordered logistic regression analysis, tax morale is not found to significantly vary by, for example, social class, employment status or wealth, but there are significant gender, age and spatial variations with men, younger age groups, rural areas and Scotland displaying significantly lower tax morale than women, older people, urban areas and London.

Practical implications

Rather than continue with the current disincentives policy approach, a new policy approach that reduces the asymmetry between government morality and societal morality is advocated. This requires not only changes in societal morality regarding the acceptability of participating in the informal economy but also changes in how formal institutions operate in order for this to be achieved.

Originality/value

This paper provides a new way of explaining participation in the informal economy and reviews its consequences for understanding and tackling the informal economy in the UK.

Details

International Journal of Social Economics, vol. 43 no. 7
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 22 July 2014

David J. Hess and Scott Frickel

This Introduction gives a historical and theoretical overview of this volume on Fields of Knowledge: Science, Politics and Publics in the Neoliberal Age, which showcases…

Abstract

This Introduction gives a historical and theoretical overview of this volume on Fields of Knowledge: Science, Politics and Publics in the Neoliberal Age, which showcases original research in political sociology of science targeting the changes in scientific and technological policy and practice associated with the rise of neoliberal thought and policies since the 1970s. We argue that an existing family of field theoretic frameworks and empirical field analyses provides a particularly useful set of ideas and approaches for the meso-level understanding of these historical changes in ways that complement as well as challenge other theory traditions in sociology of science, broadly defined. The collected papers exhibit a dual focus on sciences’ interfield relations, connecting science and science policy to political, economic, educational, and other fields and on the institutional logics of scientific fields that pattern expert discourses, practices, and knowledge and shape relations of the scientific field to the rest of the world. By reconceptualizing the central problem for political sociology of science as a problem of field- and inter-field dynamics, and by critically engaging other theory traditions whose assumptions are in some ways undermined by the contemporary history of neoliberalism, we believe these papers collectively chart an important theoretical agenda for future research in the sociology of science.

Details

Fields of Knowledge: Science, Politics and Publics in the Neoliberal Age
Type: Book
ISBN: 978-1-78350-668-2

Article
Publication date: 1 March 2011

Sining C. Cuevas

This research aims to develop a model that may be used to determine the effective adaptive measures to implement in a system affected by climate change.

2663

Abstract

Purpose

This research aims to develop a model that may be used to determine the effective adaptive measures to implement in a system affected by climate change.

Design/methodology/approach

The three primary dimensions of the model were individually investigated and then the linkages among them were developed. Specifically, the nature of climate change was examined and the issues emerging from the changes were analyzed. Next, an intensive study of system vulnerabilities was conducted, and the third factor in the model, risk, is then explored. Afterwards, the conceptual framework, which is the foundation of the climate change vulnerability risk model, was devised and the model created.

Findings

The model is a three‐dimensional matrix with the nature of climate change, vulnerabilities, and risks as its chief dimensions. It identifies the four natures of climate change, namely: variability, intensity, frequency, and quantity and the vulnerability types to be socio‐economic, biophysical, technological, and institutional. Meanwhile, risks are classified as income, biodiversity, health, mortality, and infrastructure risks.

Research limitations/implications

The research is the first phase of a three‐stage study on the linkages among climate change, vulnerability, and risks. It is the development stage of the framework that exemplifies the interrelationships among these variables and is the basis of the statistical and econometric analyses in the later stages.

Originality/value

The climate change vulnerability risk model was developed to act as an analytical guide in understanding the effects of climate change to systems. The model may be used to determine the effective adaptive measures to apply in the system, through a comparative analysis of the variables in the matrix.

Details

International Journal of Climate Change Strategies and Management, vol. 3 no. 1
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 17 September 2020

Ahmed Diab and Abdelmoneim Bahyeldin Mohamed Metwally

The study aims to investigate the appearance of corporate social and environmental responsibility (CSER) practices in a context where economic, communal and political…

Abstract

Purpose

The study aims to investigate the appearance of corporate social and environmental responsibility (CSER) practices in a context where economic, communal and political institutions are highly central and competing with each other.

Design/methodology/approach

Theoretically, the study draws upon the institutional logics perspective and the theoretical concepts of logics centrality and compatibility to understand how higher-order institutions interact with mundane CSER practices observed at the case company's micro level. Empirical data were solicited in an Egyptian village community, where fishing, agriculture and especially salt production constitute the main economic activities underlying its livelihood. A combination of interviews, informal conversations, observations and documents solicits the required data.

Findings

Thereby, this study presents an inclusive view of CSER as practiced in developing countries, which is based not only on rational economic perspectives – as is the case in developed and stabilised contexts – but also on social, familial and political aspects that are central to the present complex institutional environment.

Originality/value

The reported findings in this study highlight the role of non-economic (societal) logics in understating CSER in African developing nations.

Details

Journal of Accounting in Emerging Economies, vol. 10 no. 4
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 31 December 2015

Hajer Kratou and Kaouthar Gazdar

The purpose of this paper is to study the effect of remittances on economic growth in MENA region. More precisely this study tries first to explore the short-run and the…

1091

Abstract

Purpose

The purpose of this paper is to study the effect of remittances on economic growth in MENA region. More precisely this study tries first to explore the short-run and the long-run relationship between remittances and economic growth. Second, the authors address how the local financial development and institutional environment influence a country’s capacity to take advantage from remittances.

Design/methodology/approach

The panel data unit-root test as well as the panel data co-integration is used for the purpose of the long-run remittances growth relationship and the IV technique with GMM option is adopted to study the short-run link.

Findings

This paper provides empirical evidence that remittances have a positive effect on economic growth in the long run and a negative effect in short run. The short-run effect of remittances on economic growth is conditional. In fact, it depends in the levels of financial development and institutional quality, respectively.

Practical implications

As practical implications, policy interventions, to improve the functioning of governance institutions, enforcing regulation and political stability, enhancing financial system and socio-economic environment are also crucial for increasing the benefit effects of remittances.

Originality/value

The research is an extension of previous evidence in two ways; the authors have examined the long-run and short-run remittances-growth relationship in the first time. In the second time, the authors have explored the conditional remittances-growth relationship in MENA countries. Specifically, the authors have examined whether the remittances-growth nexus is affected by financial development and institutional quality levels in MENA countries.

Details

International Journal of Social Economics, vol. 43 no. 1
Type: Research Article
ISSN: 0306-8293

Keywords

Abstract

Details

Philosophy, Politics, and Austrian Economics
Type: Book
ISBN: 978-1-83867-405-2

Article
Publication date: 9 July 2018

Mohamed Ismail Sabry

The purpose of this paper is to investigate whether formal State Business Relations (F-SBR) lead to economic growth and which institutional variables are responsible for…

Abstract

Purpose

The purpose of this paper is to investigate whether formal State Business Relations (F-SBR) lead to economic growth and which institutional variables are responsible for their success in achieving this.

Design/methodology/approach

Following a theoretical analysis, several hypotheses are presented, and a number of different regression models are being used to test the hypotheses.

Findings

The paper finds that F-SBR with high government representation and business participation are likely to increase investment flows as well as help overcome some burdensome institutional settings. This could be done thanks to building trust, enhancing information exchange and better policy formulation. Despite of its suggested trust-building capacity, F-SBR seem to fail to function in cultures where trust in governments is low, since trust is a key issue for cooperation as that expected in F-SBR. On the other hand, collective but also non-hierarchical cultures that foster cooperation seem to help in the success of F-SBR. Accountability to the public and openness to various societal groups as well as good regulatory quality would help F-SBR in leading to better economic outcomes.

Practical implications

This paper, thus, suggests supporting the establishment of F-SBR with high official representation and business participation because of their positive economic value. It also suggests that voice and accountability and regulatory quality are important institutions for the realization of better economic outcomes from F-SBR.

Originality/value

The theoretical and empirical approaches used in this paper are what make it a novel endeavor in this field. Much of the suggested hypotheses were hardly discussed thoroughly elsewhere in the literature on F-SBR. Moreover, the proxy used for F-SBR, constructed by the interaction term of government official representation and the level of business representation, made it possible to conduct empirical testing on a global level, something barely done in works on F-SBR experiences worldwide. The obtained results supported some of the arguments uttered in the literature while raising questions on others, opening the field for future research on the matter.

Details

International Journal of Social Economics, vol. 45 no. 7
Type: Research Article
ISSN: 0306-8293

Keywords

1 – 10 of over 59000