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Abstract

Details

Structural Models of Wage and Employment Dynamics
Type: Book
ISBN: 978-0-44452-089-0

Book part
Publication date: 4 March 2015

Rustam Jamilov and Yusaf H. Akbar

This paper introduces the readers to Neo-Transitional Economics – a volume which aspires to reinvigorate scholarly interest in transition economics research. The classical…

Abstract

This paper introduces the readers to Neo-Transitional Economics – a volume which aspires to reinvigorate scholarly interest in transition economics research. The classical transition storyline is briefly revisited, and new directions for empirical and policy-relevant research that target post-transition economies in the post-crisis paradigm are highlighted.

Book part
Publication date: 8 November 2019

Nina Bohdan and Veronika Garkavaya

This chapter discusses the positioning of Belarus in the international context of socioeconomic development based on an assessment of the country's dynamics in world…

Abstract

This chapter discusses the positioning of Belarus in the international context of socioeconomic development based on an assessment of the country's dynamics in world rankings. The country's presence in the recognized world rankings and its holding high positions in them is an obvious advantage for achieving a favorable investment image. Ratings characterize the country's comparative position at the international level in a number of areas: from credit capacity to human capital development.

There has been analyzed the position of the Republic of Belarus in several recognized international comparisons, such as Human Development Index, Doing Business, ICT Development Index, Global Innovation Index, Sustainable Development Goals Index, Corruption Perceptions Index, Rule of Law Index, Worldwide Governance Indicators, and others.

However, Belarus is not yet participating in the international competitiveness assessment through such popular international ratings as Global Competitiveness Index and Global Entrepreneurship Monitor. The research findings show that the strongest aspects of the socioeconomic development of Belarus are in place due to the high educational level of the human capital development, gender equality, and the implementation of the UN sustainable development goals. The analysis also shows that the weaknesses of institutional environment and public administration do not enable the full implementation of the planned goals of socioeconomic development.

Details

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

Keywords

Book part
Publication date: 25 May 2022

Sovik Mukherjee

The chapter points to the interactive nature of the different aspects of sustainability of development and investigates the interrelations among the various facets of…

Abstract

The chapter points to the interactive nature of the different aspects of sustainability of development and investigates the interrelations among the various facets of development or sustainability. It further makes deeper analysis of the dynamic relations among human development, the natural environment, and economic growth. Using simultaneous equation econometric models for 1990–2019 in a cross section of 110 countries, it observes that economic growth in terms of growth of per capita national income is important for both human development as well as for environmental conservation and protection. For environmental sustainability it is thus both growth policy and direct environmental policies relating to protecting human health and health of the ecosystem would be of prime importance.

Details

Globalization, Income Distribution and Sustainable Development
Type: Book
ISBN: 978-1-80117-870-9

Keywords

Book part
Publication date: 3 June 2021

Sanchita De and Arpita Ghose

This chapter measures total factor productivity growth (TFPG) using Malmquist productivity index (MPI) and the growth of MPI of Indian Textile Industry employing…

Abstract

This chapter measures total factor productivity growth (TFPG) using Malmquist productivity index (MPI) and the growth of MPI of Indian Textile Industry employing nonparametric data envelopment analysis (DEA), during 1995–2016, exploring company (firm) level Center for Monitoring of Indian Economy (CMIE) Prowess data; examines whether TFPG has improved after the withdrawal of multifiber trade agreement (MFA) since 2005; decomposes TFPG into technical change (TC), technical efficiency change (TEC), and scale efficiency change (SEC); and explains the factors behind the movement of TFPG, considering the effect of R&D (RD), exports (EX), marketing expenditures (MKTs) advertisement expenditures (ADVs), imports (IMP), using second-stage panel regression. Empirical evidence supports fluctuating pattern of TFPG during 1995–2016, with a marginal declining tendency. TFPG has increased in 1999–2000, 2000–01, 2009–10, and 2012–13. After dismantling MFA, MPI level has significantly declined, with an increase in its growth rate, but the increase is not statistically significant. The effect of EX, RD, ADV are nonlinear, U-shaped, and IMP and MKT are inverted U-shaped, implying that the sign effect of any variable depends on its size. There are joint interaction effects of (a) RD and EX; RD and MKT which are positive, (b) ADV and MKT as represented by the ratio (ADV/MKT), having nonlinear inverted U-shaped relation. The joint interaction effect supports that the impact of one variable depends on the magnitude of other. The marginal effect of EX, IMP, and ADV are positive; increase in these variables promotes TFPG. The greater role of ADV over MKT is evident. The marginal effect of RD is negative; the average level of RD is too low to generate positive effects, and, thus, there is an urgency of increasing RD. The promising part of the decomposition analysis is that highest contribution to growth rate of TFPG is the growth rate of TEC followed by growth rate of TC, and thus by increasing TEC and TC, higher growth rate of TFPG is achieved and may be beneficial in the long run and may lead to absorption of economic shocks for an economy facing recession in its output growth. Some policy suggestions are made for boosting up TFPG.

Article
Publication date: 6 November 2017

Jacob Lihn and Christian Bjørnskov

The purpose of this paper is to explore how the strength of political veto players affects the long-run credibility of economic institutions and how they jointly affect…

Abstract

Purpose

The purpose of this paper is to explore how the strength of political veto players affects the long-run credibility of economic institutions and how they jointly affect entrepreneurial activity.

Design/methodology/approach

The authors employ an annual panel covering 30 OECD countries from 1993 to 2011.

Findings

An error correction model identifies a positive and significant short-run effect on self-employment from large government spending at low levels of veto player strength. A static model conversely indicates that smaller government spending is positively associated with entrepreneurship at lower levels of veto player strength in the long run.

Originality/value

The authors are the first to explore the interaction of economic and political institutions in the development of entrepreneurship.

Details

Journal of Entrepreneurship and Public Policy, vol. 6 no. 3
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 5 September 2016

Nabamita Dutta and Sanjukta Roy

The purpose of this paper is to test the relationship between state fragility and transparency. A state is deemed fragile when it falters in its ability to manage conflict…

Abstract

Purpose

The purpose of this paper is to test the relationship between state fragility and transparency. A state is deemed fragile when it falters in its ability to manage conflict and in its capacity to deliver basic functions and implement public policy. Although minimizing fragility of the state is undoubtedly an integral component of economic development, there is a huge variation across countries in terms of where they stand with regard to fragility. Further, it also explores how educational attainment affects the relationship between state fragility and transparency.

Design/methodology/approach

Using several robust estimation methodologies and a relatively new database on transparency, the authors find that higher levels of transparency lower state fragility. They reply on fixed effect estimators, lagged one period and five periods and system GMM estimators as part of our identification strategy.

Findings

Using several robust estimation methodologies and a relatively new database on transparency, the authors find that a higher level of transparency lowers state fragility. Greater and free flow of information empowers the populace, restores trust in government, increases participation in the political arena and, thus, reduces state fragility. This paper additionally shows that higher educational attainment helps reap the benefits of transparency even more and, thus, catalyzes transparency to lower-state fragility more effectively.

Research limitations/implications

Our research shows that greater transparency leads to lower state fragility. Additionally, if the populace of the country has higher educational attainment, the benefits of transparency in reducing state fragility is enhanced. Although enhancing transparency amid high state fragility may be a challenging task, it can be achieved by providing the populace with better media access via internet and cell phones.

Originality/value

The authors use a relatively new database of transparency to show that transparency acts as an important determinant of state fragility. A state is deemed fragile when it falters in its ability to manage conflict and in its capacity to deliver basic functions and implement public policy. Given this definition, it is needless to say that what can affect state fragility and how can such fragility be lowered is an important research agenda. This paper aims to fill this gap. Additionally, it shows the importance of education while exploring such a relationship.

Details

International Journal of Development Issues, vol. 15 no. 3
Type: Research Article
ISSN: 1446-8956

Keywords

Article
Publication date: 3 May 2016

Sean Severe

Substantial research has been conducted on the direct effects of banking competition or lack thereof. However, little work has investigated how the market structure of…

Abstract

Purpose

Substantial research has been conducted on the direct effects of banking competition or lack thereof. However, little work has investigated how the market structure of banks can affect the transmission of monetary policy. The purpose of this paper is to investigate to what degree bank concentration dampens or enhances the response of manufacturing to monetary policy changes.

Design/methodology/approach

To test how back concentration affects the transmission of monetary policy onto manufacturing value-added, the author regresses real value-added in manufacturing on bank concentration, monetary policy and the interaction of these two variables. The data set consists of a panel of 22 OECD countries across 59 manufacturing sectors from 1993 to 2005.

Findings

The author finds that bank concentration has two distinct effects: growth in manufacturing is lower in countries with higher concentration and manufacturing is less responsive to monetary policy as well. A loosening of monetary policy by lowering interest rates has a significantly larger effect on growth in countries with lower banking concentration. Overall, a 1 per cent decrease in the monetary policy interest rate increases industrial growth by 0.049 per cent when the three-bank concentration ratio is equal to the sample average, but the same monetary policy change has roughly twice the effect if bank concentration is only 5 per cent lower, all else equal.

Originality/value

The author is the first to measure how bank concentration alters the effectiveness of monetary policy using real economic activity as the output variable. The study is one of very few that has tied together inefficiencies created by bank concentration and the transmission of monetary policy.

Article
Publication date: 11 September 2017

Alexander Chulok, Svetlana N. Slobodianik and Evgeny Moiseichev

This study aims to assess future prospects for Russian energy exports until 2040, as global energy markets are undergoing major changes, with possible impacts on Russia.

Abstract

Purpose

This study aims to assess future prospects for Russian energy exports until 2040, as global energy markets are undergoing major changes, with possible impacts on Russia.

Design/methodology/approach

Qualitative and quantitative approaches are integrated under a proposed foresight framework. The qualitative method involves an expert survey aimed at identifying major energy trends and their influence on Russia. As the trends are validated, an algorithm is proposed to assess the contribution of separate trends to Russian energy exports.

Findings

Experimental quantitative scenarios are conducted to assess the prospects for Russian energy exports until 2040 under the given exogenous scenario calculations of the IEA. Factor analysis allows for an assessment of the contribution of separate factors in dynamics of net energy imports into the regional economies. The future prospects for fossil fuels’ exports on regional markets are considered. Priority markets for Russian energy exporters are identified.

Practical implications

The results of the paper may be used by decision-makers for adjustments in the system of government policy or corporate strategy.

Originality/value

The paper provides an algorithm to assess energy export flows to macroregions based upon the synthesis of quantitative and qualitative information. Experimental scenario calculations of the Russian fossil fuels’ exports are provided. Strategic decision-making map is elaborated.

Details

foresight, vol. 19 no. 5
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 4 July 2016

Girijasankar Mallik and Shrabani Saha

This paper investigates the corruption-growth relationship in a sample of 146 countries for the period – 1984-2009. While negative effects of corruption on growth have…

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Abstract

Purpose

This paper investigates the corruption-growth relationship in a sample of 146 countries for the period – 1984-2009. While negative effects of corruption on growth have drawn economists’ interest in recent years, our main contribution is to examine the effects by employing the hierarchical polynomial regression to evaluate the relationship after controlling economic and institutional factors.

Design/methodology/approach

The results are estimated using panel generalized methods of moments.

Findings

The results challenge some of the findings that negative growth-corruption association in the literature but also provide some new inferences. The findings reflect that corruption is not always growth-inhibitory; for some countries it is growth-enhancing, which supports the “greasing-the-wheels” hypothesis.

Originality/value

The paper investigates the growth-corruption relationship using panel generalised methods of moments. Our results suggest that a cubic function best fitted the data. The finding suggests that in the medium corrupt countries corruption stimulates growth by reducing red-tape.

Details

International Journal of Development Issues, vol. 15 no. 2
Type: Research Article
ISSN: 1446-8956

Keywords

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