Search results

The main purpose of this study is to examine the political economy of financial development in Ethiopia, specifically, to test the empirical relevance of the interest group theory of financial development in the context of Ethiopia.

The autoregressive distributive lag model to co-integration is applied to Ethiopia’s time series data from 1990 to 2020 to identify the long- and short-run effects of the political regime characteristics on financial development of the country.

The findings reveal that the degree of democracy in the political system (a proxy for narrow elites) was found to have a significant positive effect on financial development in the long run but has negatively affected financial development in the short run. Similarly, the political regime durability indicator shows a positive and statistically significant effect both in the long run and short run. The macroeconomic policy indicators which are used as control variables in this study reveal significant effects on the financial development of Ethiopia. Generally, the finding supports the interest group theory of financial development.

This paper is the original work on the effect of political regime characteristics on financial development in Ethiopia. Thus, it brings substantial value to studying determinants of financial development as it goes beyond the conventional determinants by considering the role of political power in the process of financial development.

The principal aim of this paper is to review three basic theoretical growth models, namely the Harrod-Domar model, the Solow model and the Ramsey model, and examine their implications for economic policies.

The paper utilizes a positivist research framework that emphasizes the causal relationships between the variables in each of the three models. Mathematical methods are employed to formulate and examine the three models under study. Since the paper is theoretical, it does not use any empirical data although numerical illustrations are provided whenever they are appropriate.

The Harrod-Domar model explains why countries with high rates of saving may also enjoy high rate of economic growth. Both the Solow and Ramsey models can be used to explain the medium-income trap. The paper examines the impact of Covid shocks on the macroeconomy. While the growth rate can be recovered, it may not always possible to recover the output level.

For the Harrod-Domar model, the public spending decreases the private consumption at the period 1, but there is no change in the capital stock and hence the production in subsequent periods. For the Ramsey model with AK production function, both the private consumption and the outputs will be lowered. In both the Harrod-Domar and Ramsey models with Cobb-Douglas production function, if the debt is not high and the interest rate is sufficiently low, it is better to use public debt for production rather than for consumption. If the country borrows to recover the Total Factor Productivity after the Covid pandemic, both the Harrod-Domar and Ramsey models with Cobb-Douglas production function show that the rate of growth is higher for the year just after the pandemic but is the same as before the pandemic.

The economy can recover the growth rate after a Covid shock, but the recovery process will generally take many periods.

This paper focuses on economic implications and does not aim to examine social implications of policy changes or Covid-type shock.

The paper provides a comparison of three basic growth models with respect to public spending, public debts and repayments and Covid-type shocks.

This study examines the non-linear impact of financial development on income inequality and analyses the mediators through which financial development affects income inequality.

The study uses a dynamic panel threshold method with an endogeneous threshold variable on a comprehensive sample of 85 countries over the period of 1996-2015.

The author finds that financial development activities increase income inequality in developed countries. However, financial development promotes income equality in developing countries. Further, the study finds that education and institutional quality are the channels through which financial development has non-linear impacts on income inequality.

The study explores relatively new method to examine the nonlinear impact of financial development and also considers new dataset for the main explanatory variable.

The main motivation of the present study is to understand the severity of the effect of health shock on Iran's oil economy and analyze the role of government under these conditions.

Dynamic stochastic general equilibrium (DSGE) models can show the precise interactions between market decision-makers in the context of general equilibrium. Since the duration of the virus outbreak and its effect on the economy is not known, it is more appropriate to use these models.

The results of the survey of hands-on policies scenarios compared to the state of hands-off policy indicate that the effect of government expending shocks on the economy under pandemic disease conditions has much less feedback on macroeconomic variables.

As a proposed policy, it is recommended that the government play a stabilizing role under pandemic disease conditions.

1. There is no study regarding health shock and its economic effects in Iran using DSGE models. Also, in foreign studies, the health shock in an oil economy has not been modeled.

2. The general idea in the present study is how the prevalence of a pandemic infectious disease affects the dynamics of macroeconomic variables.

3. In three different scenarios, according to the persistence of health disaster risk and the deterioration rate of health capital due to this shock, the model is simulated.

4. In modeling pandemic diseases, quarantine hours are considered as part of the total time of individuals.

5. According to the research findings, it is recommended that the government, as a policy-maker, play a stabilizing role under pandemic crises conditions.

There is no study regarding health shock and its economic effects in Iran using DSGE models. Also, in foreign studies, the health shock in an oil economy has not been modeled.

The general idea in the present study is how the prevalence of a pandemic infectious disease affects the dynamics of macroeconomic variables.

In three different scenarios, according to the persistence of health disaster risk and the deterioration rate of health capital due to this shock, the model is simulated.

In modeling pandemic diseases, quarantine hours are considered as part of the total time of individuals.

According to the research findings, it is recommended that the government, as a policy-maker, play a stabilizing role under pandemic crises conditions.

This study investigates the credit supervision issue in rural e-commerce. By studying the trading strategies of buyers and sellers under different credit supervision measures and the impact of different pricing strategies on the trading strategies of both parties, this paper proposes regulatory suggestions for the increasingly severe credit problems in rural e-commerce.

In the online agricultural product transaction between farmers and consumers, both parties' decision-making is a dynamic process. Using the copying dynamic model of the evolutionary game, this study establishes two evolutionary game models to explore the factors affecting credit supervision in the rural e-commerce transaction process. Then, the study provides corresponding countermeasures and suggestions.

First, credit supervision measures implemented by rural e-commerce platforms and the Government's legal system construction and infrastructure construction guarantees influence both parties' trust choices in rural e-commerce transactions. Second, price is a key factor affecting both parties' trading strategies. In the case of relatively fair prices, the higher the proportion of farmers who choose “low price” and “honest transaction” strategies, the easier that is for consumers to choose to trust farmers. In contrast, the higher the price, the higher the proportion of consumers who choose the “trust farmers” strategy, and the more willing farmers are to choose honest transactions.

This work develops a new approach for analyzing rural e-commerce credit supervision. Moreover, this study helps establish and improve the credit supervision mechanism of rural e-commerce and further realize the long-term sustainable development of the rural economy.

The purpose of this study is to frame digital transformation (DT) within municipalities to improve the life cycles of urban infrastructure.

The study provides the results from a systematic review of the literature on concepts of DT and its implications for municipalities, barriers and challenges to DT, as well existing DT frameworks for municipalities and their built assets. This literature review leads to the development of a DT framework to help cities conduct a planned and federated DT beforehand. Then, workshops are conducted with two major Canadian municipalities.

The results of these studies point to the need for a dedicated DT framework for municipalities because of their particular context and their role and proximity to citizens. The theoretical framework develops 22 elements, which are divided among 6 categories. Through its application, the framework helps to identify and target the predominant issues hindering the DT of municipalities, specifically “legacy practices” and “data management.”

Limitations include limited experimental conditions and small sample size. Further work is needed to validate the framework. Other approaches are advocated to complement the data collection and analysis to generate more convincing results.

The theoretical framework was validated through two case studies on two large Canadian municipalities.

Municipalities maximize the value they provide to citizens and to be at the forefront of resilience and sustainability concerns. The use of technology, digital processes and initiatives helps cities to improve planning, optimize works and provide better services to citizens.

The framework is original in that it specifically aligns assets management with DT in a municipal context.

The increasing prevalence of a wide range of infectious diseases, as well as the underwhelming results of vaccination rates that may be traced back to problems with vaccine procurement and distribution, have brought to the fore the importance of vaccine supply chain (VSC) management in recent years. VSC is the cornerstone of effective vaccination; hence, it is crucial to enhance its performance, particularly in low- and middle-income countries where immunization rates are not satisfactory.

In this paper, the authors focus on VSC performance improvement of India by proposing supply contracts under demand uncertainty. The authors propose three contracts – wholesale price (WSP), cost sharing (CS) and incentive mechanism (IM) for the government-operated immunization program of India.

The authors' findings indicate that IM is capable of coordinating the supply chain, whereas the other two contracts are inefficient for the government. To validate the model, it is applied to a real-world scenario of coronavirus disease 2019 (COVID-19) in India, and the findings show that an IM contract improves the overall efficiency of the system by 23.72%.

Previous studies focused mainly on the influenza VSC industry within developed nations. Nonetheless, there exists a dearth of literature pertaining to the examination of supply contracts and their feasibility for immunization programs that are administered by the government and aimed at optimizing societal benefits. The authors' findings can be beneficial to the immunization program of India to optimize their VSC cost.

This paper breaks through the limitations of the research on bullwhip effect in the traditional supply chain, extends the research perspective to digital supply chain and discusses the weakening effect of digital supply chain on bullwhip effect by comparing the overall performance of the two.

This paper starts with the weakening mechanism of supply chain digitization on bullwhip effect, builds bullwhip effect models of traditional supply chain and digital supply chain, respectively, simulates the influence of supply chain digitization transformation on bullwhip effect by using Matlab software and analyzes the causes of bullwhip effect in supply chain led by T company and the digitization process.

Firstly, digitization can reduce bullwhip effect in multi-level supply chain by reducing information feedback deviation. Second, digital transformation is conducive to improving the overall performance of the supply chain. Third, government incentives can promote the digital transformation of supply chain and inhibit bullwhip effect.

Although the study considers the heterogeneous subject -- the government's incentive effect on digital transformation and information sharing – it does not include the influence of the end node in the supply chain, that is the consumer. In addition, this paper only analyzes and discusses the bullwhip effect on the amplification of demand, without considering the situation that the market contraction will lead to the reduction of demand.

This paper considers the distortion degree and delay degree of information feedback, carries out quantitative analysis of bullwhip effect, builds the bullwhip effect model of traditional supply chain and digital supply chain, uses Matlab software to analyze the difference of the influence of supply chain digital transformation on bullwhip effect suppression and puts forward the corresponding control strategy.

The research shows that digital transformation can reduce the bullwhip effect in multi-layer supply chain by reducing the information feedback deviation, which is conducive to improving the overall supply chain performance, and government support can accelerate the digital transformation of supply chain to a certain extent.

First, break through the limitations of traditional supply chain research, expand the research perspective to digital supply chain and discuss the weakening effect of digital supply chain on bullwhip effect by comparing the overall performance of the two. Second, quantify the bullwhip effect through information feedback bias and provide an analysis method for the weakening of the bullwhip effect. Third, the driving role of the government in the digital transformation of the supply chain is considered in the study, so that the model is more close to the actual situation of enterprise operation.

Despite the fact that the success of e-government services is contingent on their continuous usage, the continuance intention to use e-government services has received extremely little scholarly attention. This study aims to investigate the determinants of the residents’ continuous intention to use e-government services.

The research model was developed based on the integration of technology continuance theory along with trust, transparency and habit constructs. The authors adopted a survey approach to collect the data. The data were collected using an online questionnaire from 260 residents of Penang in Malaysia.

Results revealed that transparency has a positive effect on both perceived usefulness and trust. Contrary to earlier studies on e-government, perceived ease of use was found to have no significant relationship with residents' perceived usefulness. Similarly, the results also demonstrated that habit was not significantly related to users’ continuous intention to use e-government services. This study also applied importance-performance analysis map analysis and discovered that perceived usefulness has the highest impact on continuous intention to use e-government services, whereas satisfaction was found to have the least effect.

This study used an integrative framework and presented an in-depth knowledge of the basic aspects that contribute to the post-adoption usage process and resident satisfaction, trust and attitude towards e-government services.

This paper aims to revisit the theme of fiscal-monetary coordination in a general equilibrium setup that allows for unconventional monetary policy, monetary policy transmission and developing country characteristics.

This paper uses a calibrated new Keynesian dynamic stochastic general equilibrium (DSGE) model to study fiscal-monetary interaction.

Debt sits at the center of monetary-fiscal interaction. Under high-debt conditions, the inflation-output trade-off rises with an increase in the strictness with which monetary policy targets inflation, undermining the standard prescription of strict inflation targeting. At the same time, the transmission of monetary policy is also impeded, due to which unconventional monetary policy becomes more appropriate. The need for coordination among the policies gets enhanced in the presence of borrowing cost channel. While the presence of borrowing cost channel increases the need for policy coordination regardless of the debt situation, features like higher share of non-Ricardian households and weaker monetary policy transmission affect monetary-fiscal interaction to a greater extent under high-debt environment.

First, this paper uses inflation-output trade-off as a metric, to analyze fiscal-monetary interaction. Second, this paper considers the impact of developing country characteristics (such as a higher share of non-Ricardian households, impeded monetary policy transmission and supply constraints/borrowing cost channel) on fiscal-monetary interaction. Third, the DSGE model developed in this paper incorporates open market operations that could shed light on the role of unconventional monetary policy in the presence of high fiscal deficit and debt, which is particularly relevant in the current context of the COVID-19 pandemic. Fourth, the model also permits an investigation into monetary policy transmission under different debt regimes.