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1 – 10 of 440Harold Delfín Angulo Bustinza, Bruno de Souza and Roberto De la Cruz Rojas
This chapter examines the influence of external public borrowing resources on economic progress in Tunisia. The study focuses on two stages: First, the influence is studied in a…
Abstract
This chapter examines the influence of external public borrowing resources on economic progress in Tunisia. The study focuses on two stages: First, the influence is studied in a direct sense and then in an indirect sense, i.e., through a transmission channel of this influence. By applying the autoregressive distributed technique with staggered lags (ARDL), over a period ranging from 1986 to 2019, the results showed that the influence of external borrowing resources on growth seems to be unfavorable in the short term but positive in the long term, hence the importance of the empirical technique chosen. Second, three interaction variables were tested, namely total government expenditure, government investment expenditure, and the real effective exchange rate. The results obtained call for better attention to the channels identified to maximize the positive influence of external public debt on the country's economic progress.
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ARGENTINA: Spending cuts will prove unsustainable
Claire Economidou, Dimitris Karamanis, Alexandra Kechrinioti, Konstantinos N. Konstantakis and Panayotis G. Michaelides
In this work, the authors analyze the dynamic interdependencies between military expenditures and the real economy for the period 1970–2018, and the authors' approach allows for…
Abstract
Purpose
In this work, the authors analyze the dynamic interdependencies between military expenditures and the real economy for the period 1970–2018, and the authors' approach allows for the existence of dominant economies in the system.
Design/methodology/approach
In this study, the authors employ a Network General Equilibrium GVAR (global vector autoregressive) model.
Findings
By accounting for the interconnection among the top twelve military spenders, the authors' findings show that China acts as a leader in the global military scene based on the respective centrality measures. Meanwhile, statistically significant deviations from equilibrium are observed in most of the economies' military expenses, when subjected to an unanticipated unit shock of other countries. Nonetheless, in the medium run, the shocks tend to die out and economies converge to an equilibrium position.
Originality/value
With the authors' methodology the authors are able to capture not only the effect of nearness on a country's military spending, as the past literature has documented, but also a country's defense and economic dependencies with other countries and how a unit's military expenses could shape the spending of the rest. Using state-to-the-art quantitative and econometric techniques, the authors provide robust and comprehensive analysis.
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John Kwaku Amoh, Abdallah Abdul-Mumuni, Emmanuel Kofi Penney, Paul Muda and Leticia Ayarna-Gagakuma
Debt sustainability and the growing level of external debt in sub-Saharan African (SSA) continue to be significant research priorities. This study aims to examine the…
Abstract
Purpose
Debt sustainability and the growing level of external debt in sub-Saharan African (SSA) continue to be significant research priorities. This study aims to examine the corruption-external debt nexus in SSA economies and whether different levels of corruption better explain this relationship.
Design/methodology/approach
The panel quantile regression approach was applied to account for the heterogeneous effect of the exogenous variables on external debts. The research covers 30 years of panel data from 30 selected SSA economies for the period spanning from 2000 to 2021.
Findings
The empirical findings of the regression analysis demonstrate the heterogeneous influences of the exogenous variables on external debt. While there was a positive impact of foreign direct investment (FDI) inflows on external debts, corruption established a negative relationship with external debt from the 10th to the 80th quantile. The findings showed a positive link between trade openness and external debt, while they also showed a negative relationship between gross fixed capital formation and external debt.
Research limitations/implications
It is implied that corruption “sands the wheels” of external debts in the selected SSA countries. Therefore, the amount of external debt that flows into SSA is inversely correlated with corruption activity.
Originality/value
To the best of the authors’ knowledge, this study is one of the first to use panel quantile regression to analyze how corruption affects debt dynamics across different levels of debt, allowing for a more nuanced understanding of how corruption affects debt dynamics. Based on the findings of this study, SSA countries should create enabling environments to attract FDI inflows and to continue to drive domestic revenue mobilization and capital so as to be less dependent on external debts.
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Kaisu Sahamies and Ari-Veikko Anttiroiko
This article investigates the practical implementation of the ecosystem approach in different branches of public management within an urban context. It explores how ecosystem…
Abstract
Purpose
This article investigates the practical implementation of the ecosystem approach in different branches of public management within an urban context. It explores how ecosystem thinking is introduced, disseminated and applied in a local government organization.
Design/methodology/approach
We utilize a qualitative case study methodology, relying on official documents and expert interviews. Our study focuses on the city of Espoo, Finland, which has actively embraced ecosystem thinking as a fundamental framework for its organizational development for almost a decade.
Findings
The case of Espoo highlights elements that have not been commonly attributed to the ecosystem approach in the public sector. These elements include (1) the significance of complementary services, (2) the existence of both collaborative and competitive relationships among actors in public service ecosystems and (3) the utilization of digital platforms for resource orchestration. Our study also emphasizes the need for an incremental adoption of ecosystem thinking in organizational contexts to enable its successful implementation.
Originality/value
The study provides valuable insights into the introduction and dissemination of ecosystem thinking in public management. It also further develops previously developed hypotheses regarding public service ecosystems.
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Le Thanh Tung and Le Nguyen Hoang
Emerging economies have been highlighted as an important growth source of the global economy. However, this group of countries has not received enough academic attention yet…
Abstract
Purpose
Emerging economies have been highlighted as an important growth source of the global economy. However, this group of countries has not received enough academic attention yet. Therefore, this study aims to identify the impact of research and development (R&D) expenditure on economic growth in emerging economies.
Design/methodology/approach
The theoretical framework of the production function is applied to quantitatively analyse the impact of R&D expenditure on economic growth with a sample of 29 emerging economies in the period between 1996 and 2019.
Findings
The panel cointegration test confirms the existence of long-run cointegration relationships between economic growth and independent variables in these emerging economies. Besides, the estimated results show that the national R&D expenditure has positive effects on economic growth from both direct and interaction dimensions. This evidence has filled the empirical research gap in the R&D-growth nexus in the case of emerging economies. Finally, while gross capital and education have positive impacts on growth, corruption has a harmful effect on economic growth in these countries.
Practical implications
The results highlight that policymakers should enhance R&D expenditure and R&D activities as the key national development strategy. The investment in R&D not only helps emerging economies avoid the middle-income trap but also pushes these countries to successfully join the group of developed countries.
Originality/value
To the best of the authors’ knowledge, this research is among the first to examine the impact of R&D expenditure on economic growth with a homogeneous sample of emerging economies. The results are obviously helpful for policymakers to use R&D as the key development strategy for supporting economic growth in emerging economies in the future.
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