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Article
Publication date: 21 September 2015

Ali Kazemi Karyani, Enayatollah Homaie Rad, Abolghasem Pourreza and Faramarz Shaahmadi

Health can be influenced by many factors. One of the factors is the political context of the country and democracy. The purpose of this paper is to examine the effects of…

Abstract

Purpose

Health can be influenced by many factors. One of the factors is the political context of the country and democracy. The purpose of this paper is to examine the effects of freedom in press and polity index in overall, public, private and out of pocket health expenditures.

Design/methodology/approach

A long-term panel data approach has been used to examine the relationship between democracy and health expenditures. The authors inserted polity and freedom into press indexes in the health expenditure model.

Findings

Increase in freedom of the press and democracy will increase the overall, public and private health expenditures while they decrease out of pocket health expenditures.

Originality/value

Polity and freedom index has a significant impact on all the health expenditure models.

Details

International Journal of Human Rights in Healthcare, vol. 8 no. 3
Type: Research Article
ISSN: 2056-4902

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Book part
Publication date: 28 December 2018

John A. Bishop, Haiyong Liu and Juan Gabriel Rodríguez

There are conflicting views of the primary role of income inequality in economic development. Many expect that higher income shares at the top reflect substantial economic…

Abstract

There are conflicting views of the primary role of income inequality in economic development. Many expect that higher income shares at the top reflect substantial economic contributions while others think that these increases in top shares have not translated into higher economic growth. Recently, this debate has been reinvigorated by a new proposal: higher income inequality could hurt economic performance by decreasing future intergenerational mobility. We contribute to this debate by examining the relationship between intergenerational perceived job status mobility and past income inequality. We find a robust negative association of lagged income inequality with upward intergenerational job status mobility and a robust positive association of lagged income inequality with downward intergenerational job status mobility. In addition, we find that the quality of political institutions and religious fractionalization both contribute positively to job status mobility. Higher levels of past Gross Domestic Product (GDP) result in less upward job status mobility and more downward job status mobility.

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Book part
Publication date: 29 July 2009

Partha Gangopadhyay and Manas Chatterji

The fundamental idea that we seek to establish in this chapter is that the establishment of regional or local, peace calls forth global peace. In other words, our argument…

Abstract

The fundamental idea that we seek to establish in this chapter is that the establishment of regional or local, peace calls forth global peace. In other words, our argument is that local and regional conflicts are partly driven by global factors, especially what is commonly known as international tension. In order to achieve meaningful and sustained peace, there is a reason to believe that it is mandatory to manage and contain international tensions. The main thesis of this chapter is to explain or posit, conflicts as a product of continuing international chasms, splits and differences of political and social ideologies in our modern world. Thus, we argue that conflicts are, to some extent, driven by international tension or global, ideological and geo-political factors. Notwithstanding the global influence, local factors – such as income inequality, income growth or lack of it, political institutions – can and do exacerbate conflicts and a peaceful resolution of conflicts becomes a difficult phenomenon.

Details

Peace Science: Theory and Cases
Type: Book
ISBN: 978-1-84855-200-5

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Article
Publication date: 15 May 2009

Vladimir Ponczek and Enlinson Mattos

The purpose of this paper is to decompose the effects of democracy and risk of expropriation on economic volatility.

Abstract

Purpose

The purpose of this paper is to decompose the effects of democracy and risk of expropriation on economic volatility.

Design/methodology/approach

The authors follow Acemouglu et al. and use settler mortality in former colonies in the seventeenth, eighteenth and nineteenth centuries as an instrument of “risk of expropriation,” in addition to a democracy index to capture institutional effects on economic stability.

Findings

The authors present empirical evidence that the economic performance of more centralized former European colonies is not more volatile than that of democratic ones, once the exogenous variation of expropriation risk across countries is included in the model

Originality/value

The paper investigates the role of a spectrum of different institutions on economic stability. In this sense, the paper contributes to the literature analyzing the effect of property‐rights protection, as measured by a risk‐of‐expropriation index, on the relation between democracy and economic stability.

Details

Journal of Economic Studies, vol. 36 no. 2
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 18 April 2017

Michael Carney, Marc Van Essen, Saul Estrin and Daniel Shapiro

The purpose of this paper is to examine two prominent perspectives on business group functioning, institutional void (IV) and entrenchment/exploitation (EE), that make…

Abstract

Purpose

The purpose of this paper is to examine two prominent perspectives on business group functioning, institutional void (IV) and entrenchment/exploitation (EE), that make different predictions about the effect of business group (BG) on the economy. The authors examine the effects of BG prevalence in an economy and its effect on macroeconomic outcomes including foreign direct inward and outward investment, innovation and development of the financial sector.

Design/methodology/approach

The authors build a unique database by extracting estimates of BG prevalence for multiple countries between 1978 and 2012 from the existing literature and use this to test conflicting predictions derived from the IV and EE perspectives, respectively.

Findings

The authors find no consistent evidence that BG prevalence diminishes over time with economic development as IVs diminish, which is predicted by the IV perspective. Instead, the long-term persistence of BGs in many countries appears to be more consistent with the EE perspective. However, this study also finds no support for the perspective that high levels of BG prevalence are negatively associated with country-level indicators and determinants of economic development and competitiveness, as suggested by that perspective.

Originality/value

The authors conclude that there is no robust support for either the IV or the EE perspective and highlight the need for more contextualized theorizing about the evolution of BGs.

Details

Multinational Business Review, vol. 25 no. 1
Type: Research Article
ISSN: 1525-383X

Keywords

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Article
Publication date: 8 January 2018

Minh Quang Dao

The purpose of this paper is to empirically test a more comprehensive model of economic growth using a sample of 28 lower middle-income developing countries.

Abstract

Purpose

The purpose of this paper is to empirically test a more comprehensive model of economic growth using a sample of 28 lower middle-income developing countries.

Design/methodology/approach

The authors modify the conventional neoclassical growth model to account for the impact of the increase in the number of people working relative to the total population and that of the increase in the value added per worker over time. The authors then extend this model by incorporating the role of trade, government consumption, and human capital in output growth.

Findings

Regression results show that over three quarters of cross-lower middle-income country variations in per capita GDP growth rate can be explained by per capita growth in the share of public expenditures on education in the GDP, per capita growth in the share of government consumption in the GDP, per capita growth in the share of imports in the GDP, per capita growth in the share of manufactured exports in the GDP (not of that of total exports in the GDP), and the growth of the working population relative to the total population.

Practical implications

Statistical results of such empirical examination will assist governments in these countries identify policy fundamentals that are essential for economic growth.

Originality/value

To address the simultaneity bias, the authors develop a simultaneous equations model and are able to show that such model is more robust and helps explains cross-country variations in per capita GDP growth over the 2000-2014 period.

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Book part
Publication date: 4 July 2015

Rita Biswas and Eric Ofori

This study takes a broad approach to the relationship between political risk resolution through democracy and stock market development. Specifically, it examines the…

Abstract

This study takes a broad approach to the relationship between political risk resolution through democracy and stock market development. Specifically, it examines the empirical relationship between the degree of democracy (ranging from non-democracies or autocracies to well-established “mature” democracies) and stock market size and liquidity. Using the random effects Generalized Least Squares methodology on a sample of 22 African countries and spanning the period 1985–2011, this study finds (i) the greater the degree of democracy, the greater the liquidity of the stock market but the impact on the size of the market is insignificant; (ii) the relationship between military leadership and stock market development is statistically insignificant; (iii) having constitutional limits on the number of years a chief executive is allowed to serve promotes stock market development; and (iv) a higher degree of political competitiveness has a significantly positive impact on both stock market size and liquidity.

Details

Overlaps of Private Sector with Public Sector around the Globe
Type: Book
ISBN: 978-1-78441-956-1

Keywords

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Article
Publication date: 10 April 2017

Syed Tehseen Jawaid, Shujaat Abbas and Shaikh Muhammad Saleem

The purpose of the study is to investigate the relationship between international financial integration (IFI) index and democracy (DEM) in Pakistan by using long-time…

Abstract

Purpose

The purpose of the study is to investigate the relationship between international financial integration (IFI) index and democracy (DEM) in Pakistan by using long-time series data from 1975 to 2013.

Design/methodology/approach

The IFI index is constructed by principal component analysis. IFI consists of foreign direct investment (FDI), remittances (REM) and external debt (ED), whereas the Polity IV index is used for DEM. Johansen and the autoregressive distributed lag method for cointegration methods are used to find a long run relationship. Dynamic ordinary least square (DOLS), fully modified ordinary least square (FMOLS) and canonical regression (CR) have been used to find the nature of the relationship. Rolling window analysis has been done to find the year wise coefficients.

Findings

DOLS, FMOLS, canonical regression CR and cointegration results suggest a significant negative long-run relationship between IFI and DEM in Pakistan. Rolling windows analysis highlights that DEM has improved IFI in Pakistan from 2008 to 2013.

Originality/value

This study constructs an index for financial integration using principle component analysis on capital inflows, i.e. FDI, REM, ED, to explore the impact of DEM on IFI in Pakistan from 1975 to 2013. This study investigates for the first time ever the relationship between IFI index and DEM in Pakistan.

Details

Indian Growth and Development Review, vol. 10 no. 1
Type: Research Article
ISSN: 1753-8254

Keywords

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Book part
Publication date: 20 May 2019

Abstract

Details

Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice
Type: Book
ISBN: 978-1-78973-007-4

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Book part
Publication date: 30 December 2013

Fabrizio Carmignani

Post-conflict economies are characterized by high, and often growing, levels of debt. At the same time, peace is particularly fragile in the aftermath of a conflict. This…

Abstract

Post-conflict economies are characterized by high, and often growing, levels of debt. At the same time, peace is particularly fragile in the aftermath of a conflict. This chapter studies how debt affects the risk of war in the 10 years that follow the end of a previous conflict. After controlling for per-capita income and other economic, political, and geographical factors, external debt is found to increase the risk of war. Conversely, the effect of domestic debt is negligible. The policy implication for the international community is clear: debt relief helps stabilize peace in war-torn economies.

Details

Cooperation for a Peaceful and Sustainable World Part 2
Type: Book
ISBN: 978-1-78190-655-2

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