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The purpose of this study is to determine the impact of community-based and driven approaches during the lockdowns and early periods of the pandemic. The study examines the impact and perceptions of the state-led intervention. This would help to discover a better approach for postpandemic interventions and policy responses.

This article used the inductive method and gathered its data from surveys. In search of global opinions on COVID-19 responses received in communities, two countries in each continent with high COVID-19 infection per 100,000 during the peak period were chosen for study. In total, 13 community workers, leaders and members per continent were sampled. The simple percentile method was chosen for analysis. The simple interpretation was used to discuss the results.

The study showed that poor publicity of community-based interventions affected awareness and fame as most were mistaken for government interventions. The study found that most respondents preferred state interventions but preferred many communities or local assessments of projects and interventions while the projects were ongoing to adjust the project and intervention as they progressed. However, many preferred community-based and driven interventions.

State secrecy and perceived opposition oppression limited data sourcing for this study in countries where state interventions are performed in secret and oppression of perceived opposition voices limited data collection in some countries. Thus, last-minute changes were made to gather data from countries on the same continent. An intercontinental study requires data from more countries, which would require more time and resources. This study was affected by access to locals in remote areas where raw data would have benefited the study.

The absence of data from the two most populous countries due to government censorship limits access to over a third of the global population, as they make up 2.8 out of 7 billion.

The choice of two countries in each continent is representational enough, yet the absence of data from the two most populous countries creates a social identity gap.

The survey collected unique and genuine data and presents novel results. Thus, this study provides an important contribution to the literature on the subject. There is a need for maximum support for community-based interventions and projects as well as global data collection on community-based or driven interventions and projects.

This research aimed to fill several gaps in the tipping literature which has overlooked the server's perspective in identifying and understanding variables that influence a tip amount and therefore where they concentrate their efforts during the service encounter. Furthermore, the extant literature has theorized how or why certain variables influence the tip amount, but these studies fail to capture insight from server's which would supplement the theory and provide a more in-depth understanding of the mechanisms at play.

This study adopts a grounded theory approach using semi-structured one-on-one interviews with tipped restaurant employees who were identified and selected using snowball sampling. Content analysis is employed to code and categorize the data.

The content analysis revealed five categories where servers focus their time and effort to earn tips: service quality, connection, personal factors, expertise and food quality. The server's personality was identified as a variable the tipping literature has largely ignored as a determinant of the tip amount. Server's shift their style of service for groups of eight or more people, and for regular customers, who must dine in the restaurant at least once per week. Lastly, despite the many drawbacks associated with working for tips, servers would not want to replace it with any other method of compensation.

This is the first qualitative study focused on understanding the server's role in the service exchange relationship since McCarty et al. (1990) study. The results provide new insights on the often-studied variables from the tipping literature.

At present, China’s industrial spatial layout faces the predicament of over-agglomeration of Eastern China industries and the near disintegration of industrial structure in the central and western regions. The paper aims to discuss this issue.

Based on the perspective of differentiated inter-regional labor mobility, this paper constructed a model framework of quadratic sub-utility quasi-linear preference utility function, and conducted model deduction and numerical simulation on causal factors of this spatial imbalance along the two dimensions of individual and regional welfare.

The study finds that in the long run, industrial spatial layout imposes a certain threshold limit on the portfolio proportion of differentiated labor. The dilemma of China’s industrial spatial layout is attributable to the deviation of the market’s optimal agglomeration from the social optimal agglomeration, and to the disfunction of Eastern China’s role as an intermediary between the global and the domestic value chain.

To resolve this predicament of industrial layout, the unitary welfare compensation based on fiscal transfer payment has to be switched to a more comprehensive approach giving consideration to industrial rebalancing.

This study aims to investigate the impact of social grants on rural household welfare in a village located in one of the poorest provinces in South Africa – KwaZulu Natal Province. Actually, since the inception of democratic rule, the South African government has turned to social grants to address the issues of poverty, income inequality and to improve household welfare. The coverage of social grants has increased substantially with more than 17 million (about 34% of the population) South Africans being recipients of social grants. Despite having relatively well-developed social security system, poverty levels in rural parts of South Africa remains very high.

This study uses a cross-sectional households survey data conducted in Hlokozi village. A propensity score matching technique, which accounts for non-random selection of households, is applied.

The results reveal that social grants have a significant and positive impact on rural household welfare. Specifically, the nearest neighbour matching estimates suggest that the causal effect for social grants on household welfare is the region of about R5,830. Consistent with the nearest neighbouring method, the results obtained using the Kernel matching method show that social grants are significant in improving rural household welfare.

While there are a number of studies that have shed some light on how social grant reduces poverty in South Africa, there are some gaps. Firstly, only a few studies have interrogated the impact of social grants on household welfare. Secondly, most of these studies have relied on descriptive analysis, and finally, besides poverty being high in rural areas, research on the impact of social grants on rural household welfare remains thin.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

This study considers the case in which governments decide whether to support private commercial banks with a subsidy policy in order to encourage participation in the international ship financing market. We examine two cases: (i) identical efficiency between domestic and foreign commercial banks; and (ii) different efficiencies between these banks. In the first case, the domestic government has the incentive to provide a subsidy strategy for domestic commercial banks to maximize social welfare, while the foreign government does not use the subsidy support. Furthermore, in the second case, foreign governments and commercial banks always prefer the subsidy strategy in order to maximize both social welfare and profits. However, the domestic government uses the subsidy strategy depending on the efficiency gap between the two banks. Our model suggests that governments need to support commercial banks with an appropriate subsidy strategy (direct or indirect) to promote participation in the market.

The purpose of this paper is to explore the concept of pensionomics as a prospective tool for pension evaluation. This paper suggests a paradigm shift – a multi-disciplinary synthesis of differing perspectives in evaluating pension’s overall performance based on past work on pension evaluation – incorporating non-economic variables with significant impact on economic growth and social development.

This paper suggests a new analytical tool called “Pensions Consistency (PC) Index” that identifies the level of consistency and the strengths and weaknesses within any pension system. The new conceptual framework focusses on building inter-sectoral and holistic policies able to respond to the new multi-dimensional dynamic environment.

The consideration of pensionomics concept as an evaluation tool for pension schemes provides insights that are helpful in explaining performance differentials. Taking definition, classification and evaluation as a guiding principle, the new conceptual framework can be a useful point of reference for the overall evaluation of pension schemes, revealing deficiencies that traditional evaluation methods cannot detect. The multi-disciplinary approach focusses on building inter-sectoral and holistic policies that are able to respond to the multi-dimensional uncertainties of the new dynamic environment.

The heterogeneity and complexity in event dynamics are systemic in the sense that the impact is far from linear. The idiosyncratic nature of unexpected and unpredictable events is rather a result of multi-dimensionality based, among others, on magnitude, frequency, timing, intensity and impact. It is plausible to argue that crisis episodes can destabilize critical systems of economic activity, producing economic spillovers that can directly or indirectly affect the sustainability of pension schemes. If the calculation of direct economic impact is readily traceable, the estimation of indirect economic impact can be an onerous task.

Pensionomics places the concept of retirement in a multi-disciplinary context. Pensionomics overcomes theoretical and empirical limitations encountered by the path-dependency perspective, developing a new research agenda to study pension schemes under historical, cultural, social, political, economic, political and environmental prism. Integrating diversified data, techniques, perspectives and concepts, pensionomics’ objective is to connect natural and man-made events with social protection mechanisms for the development of a dynamic social protection framework where individual, community and society needs are met effectively and efficiently by implementing tailored policies, closely related to their specific context.

The concept of retirement has evolved constantly, transforming societies and shaping both income and non-income dimensions of well-being. Pension entitlement turned gradually from a political discourse to a human right discourse. Pension schemes have extended the scope of insurance coverage beyond labour markets and the lifecycle, supporting the broader needs of entire population. Furthermore, pension schemes are widely acknowledged as drivers of economic growth: they enhance labour productivity; foster smooth consumption; and create a stable economic environment for investment and innovation. Current expectations require pension schemes to adopt proactive and reactive policies to examine options for mitigation or for modification of potential consequences in anticipation of exceptional events.

This paper suggests a paradigm shift, a multi-disciplinary approach called pensionomics, and this “multi-disciplinary” focus builds a new analytical framework to evaluate pension’s overall performance based on past work on pension evaluation, incorporating non-economic variables with significant impact on economic growth and social development. PC-Index introduces a comprehensive evaluation tool to study the coverage, performance, efficiency, effectiveness, current trends and future possibilities of pension schemes.

Environmental problems such as CO₂ (Carbon Dioxide) emissions have seriously affected the development of the steel industry, which has urged the industry to adopt a more effective emission reduction policy. This paper aims to analyze the impact of various CO₂ emission reduction policies combinations on the economic benefits and environmental changes of the steel industry and to determine the scope of application.

To compare the impact and applicable implementation conditions, a production decision game model that incorporates these two policies has been constructed. Short-, medium- and long-term constraints are set on the emission reduction indicators and the indicators’ changes under various scenarios are compared.

In the case of a single emission reduction policy, the carbon trading (CT) mechanism is better than the carbon tax mechanism. The mixed carbon trading mechanism is superior to the mixed carbon tax mechanism in terms of total output and subsidies, but worse in terms of overall social welfare, producer surplus and macro losses.

This paper constructs multiple emission reduction and production backgrounds and discusses the impact of the comprehensive implementation of these policies, which is practically absent in previous studies. It is in line with the current industrial policy for stable production and environmental protection and also provides a reference for the formulation of detailed policies in the future.

This paper aims to discuss the application of waqf (endowment) in the social finance sector for funding social and development projects and services.

The study is qualitative. It reviews literature and provides descriptive data to present its main idea.

Most Muslim-majority countries are generally income-poor, and the governments are generally weak in their tax collection, effective governance and capacity for development spending. Private sector financial institutions are scarce and mostly cater to the people who can meet the income-based lending criteria. Thus, the institution of waqf can fill the gap as a social finance institution by providing intermediation services for effectively utilising perpetual social savings. Flexibility in the rules of waqf enables it to serve beneficiaries directly or through financial institutions and to provide a wide range of social services.

This conceptual research highlights the need and potential of waqf without discussing the regulatory and operational details of how to effectively institutionalize it in different regions.

The institution of waqf can harness the potential of selfless charitable giving in an effective way for better economic impact in the targeted social segments of society.

The paper suggests the establishment of waqf-based training and vocational centres which will increase opportunities of self-employment and contribute in upward social mobility of beneficiaries.

This paper critically reviews and analyzes the trends in waqf studies within the Islamic economics literature. It analyzes the recent developments and debates in waqf reform and advances the argument for prioritizing research on waqf economics; the waqf dimension that is concerned with modelling how to utilize it to enhance productivity, consumption, redistribution, investment and saving, and generally contribute sustainably towards poverty reduction, economic empowerment and development.

The paper is conceptual in nature, focusing on a systematic historical analytical review of waqf studies in Islamic economics literature.

Despite the documented historic role of waqf in constructing the Muslim socio-economic architecture as the third economic sector and a mechanism for civilizational development and renewal, it received little attention in the early writings on modern Islamic economics. While the past one decade has witnessed a renewed interest in waqf research, most studies focus on its legal, juristic and administrative aspects in addition to the nostalgic reflections on its past glories. Little attention is comparatively given to the socio-economic aspect, which represents the actual raison d’être for its institutionalization.

An important task ahead of the current generation of Islamic economists is to formulate waqf-based development models that are rooted in proper diagnosis and deep understanding of the current socio-economic realities of the OIC member countries for the purpose of uplifting living standards and stimulating sustainable socio-economic development.

The paper contributes to the debate on priorities in waqf studies and practice and can trigger further discourses and research on the future of research in waqf economics.