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There exist long-term fluctuations in the process of capital accumulation. The economic long wave is an essential part of research into non-mainstream western economics. After the Second World War, the capitalist world experienced the fourth long wave of expansion and then entered into a downward phase of the long wave in the 1970s. Regarding to whether a new long wave of expansion took place in the 1980s, left-wing scholars hold different viewpoints. The purpose of this paper is to focus on this issue.

First, based on the review of the long wave history, this paper discusses three kinds of long wave theories with significant influence and puts forward the theoretical framework of analyzing the long wave of capitalist economy. Next, under the guidance of this theoretical framework and in combination with the actual development and evolution of the capitalist economy, the issue of whether the fifth long wave of the capitalist economy began to emerge in the 1980s is discussed deeply.

This paper argues that, from the early 1980s to 2007, the US-dominated developed countries experienced a new long wave of expansion driven by the information technology revolution, the adjustment of the neoliberalism system and the economic globalization. However, the financial-economic crisis of 2008–2009 led to a new phase of long wave downswing.

This paper does not agree with the single-factor analysis of the intrinsic formation mechanism of economic long wave and sticks to the multi-factor analysis centering on the fluctuation of accumulation rate. It is pointed out that the evolution of the long wave of capitalist economy depends on the combined influence of technology, institutions and market. The study of the long wave of the economy will help us to correctly understand the historical stage and characteristics of the current world capitalist economy in the long-term fluctuations, so that we can make an appropriate and positive response.

The purpose of this study is to show effect of entrepreneurship on entrepreneurial intention. Currently, the long-term global economic crisis is accelerating, and the concerns for future uncertainties are spreading throughout our society. The ICT majors in Busan region are no exception so that business start-up is being considered as a new alternative to survive and grow in such uncertain environments at home or abroad. That is, business start-ups and entrepreneurship are being emphasized as a strategy that individuals can change not only one’s own life but also the fate of a region and even the destiny of a country.

For this reason, the youth start-ups based on social networks and leadership have become the focus of our social concern along with the entrepreneurship that can actively cope with the ever-changing global environments. Thus, some of the major factors (i.e. innovation, enterprise and risk-taking) which should be considered when promoting the entrepreneurial intention of the ICT majors in Busan region have been researched, as well as the concept of entrepreneurship itself.

This demonstrates that young people will be able to successfully lead their start-up companies through their enterprising spirit, networks and leadership and learning with firm determination. Therefore, it is important to make such a network and leadership-based entrepreneurship become foundational in overcoming the long-term Korean economic depression; surviving in such an opaque situation; leading the growth and development of Busan region; and becoming the driving force for national growth, by developing the unique characteristics and strength of the students.

In this regard, this study will be useful for understanding the entrepreneurship of the ICT majors in Busan region more while contributing to the invigoration of a creative economy by studying the factors essential for the entrepreneurship and development of networks and leadership.

Depression is a usual comorbidity in patients with Parkinson's disease. It has been known for more than 50 years that electroconvulsive treatment (ECT) has a positive effect on the muscular symptoms of Parkinson's disease. Many countries do not allow giving ECT for this indication. We have recently treated a resident patient in an acute psychiatric facility referred to the hospital with moderate depressive symptoms and strong suicidal ideation. Before and after a series of ECT he filled out the Beck Depression Inventory and the Antonovsky Sense of Coherence test. The scores before ECT were 20 and 2.69, respectively, and after 12 treatments 14 and 3.38. Both test results indicate improvement regarding level of depression and coping in life. The physiotherapists treating him observed that his rigidity was reduced and his gait improved. Muscular tonus was reduced and increased his tendency of falling as he had less tonus in muscles close to joints. Self help efficiency in daily tasks improved. He got cognitive impairment during and in the weeks after ECT. Electroconvulsive treatment should be offered to more patients with Parkinson disease and depression in order to lessen the burden of both depression and Parkinson symptoms.

This paper aims to assess to what extent the COVID-19 shock is expected to create a debt crisis in emerging markets and developing economies (EMDEs) through two main questions: what are the main determinants of EMDEs external vulnerability? How vulnerable are EMDEs to the current COVID-19 shock compared to the global financial crisis (GFC)?

In addition to a descriptive analysis of the determinants of EMDEs external vulnerability, this paper designs two sub-indices of overindebtedness and financial fragility that capture EMDEs’ distinct characteristics. The two sub-indices together illustrate the overall external vulnerability to the current shock.

EMDEs are more vulnerable compared to the GFC era. Current debt threats arise mainly from debt architecture and the domination of volatile debt forms – primarily foreign currency-denominated bonds. Excessive fear of debt-deflation spirals after the GFC prompted EMDEs to expand their growth trajectories through a pattern of cheap private lending, loose measures and unmonitored fiscal expansion.

Conclusive post-crisis data are still unavailable.

EMDEs need to balance between temporary accommodative measures and a post-shock policy mix that prevent a deflation spiral without worsening indebtedness and financial fragility. Moreover, financial prudence in face of growing credit demand is crucial, particularly in light of the monetary expansion and injected liquidity.

The indices offer a framework for examining external vulnerability in EMDEs based on theoretical and historical revisions, IMF benchmarks and EMDEs specific debt characteristics. The indices components can be offered for empirical examination in separate future research once conclusive data become available.

Leadership tenacity for school superintendents rests largely upon experience, grit, and subsequently resilience as they balance the pressures of the operational challenges of school operation with the instructional needs of the children they serve. Through this study, the authors identified the critical aspects of how effective superintendents may have developed and whether deliberate practice was evidenced in their experience. The superintendent’s perseverance to doing what matters over an extended period of time and under challenging conditions contributes to leadership grit and resilience. Viewed through the lens of these superintendents, experience, grit, and resilience influence leadership tenacity interdependent, but not limited to the theory of deliberate practice and transformational leadership.

It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario misplacement may thus arise. The root cause lies in the lack of reflection about the current relationship between economic thoughts and realities. The paper aims to discuss these issues.

Correctly understanding economic thoughts associated with the brand of “that era” and effectively deducing its characteristics is of great significance to finding new features of this era and constructing new ideas with the characteristics of “this era.”

This motif is exactly the keynote on which to base the study of economic history and economic thought.

In a period of major historical turning points, the economic realities on which the economic thinking about that era (the era of economists) relied was undergoing major changes, and re-emphasizing the ancient topic of the relationship between economic thoughts and economic realities became particularly urgent.

Under the background of the overall increase of China's economic policy uncertainty and the urgent need for the transformation and upgrading of the substantial economy, this paper studies the time-varying causality between China's economic policy uncertainty and the growth of the substantial economy through bootstrap rolling window causality test, further refines economic policies and studies the causal differences between different types of economic policies and substantial economic growth, refining the conclusions of previous studies.

This paper first studies the causal relationship between China's economic policy uncertainty and substantial economic growth in the full sample period through bootstrap Granger causality test. Then, the paper tests the short-term and long-term stability of the parameters of the VAR model, and it is found that the model parameters are unstable in both the short and long term, so the results of the Granger causality test of the full sample are not credible. Finally, we conduct a dynamic test of the causal relationship between China's economic policy uncertainty and substantial economic growth by means of rolling window, so as to comprehensively analyze the dynamic characteristics and sudden changes of the relationship between them.

The research shows that economic policy uncertainty in China has a significant inhibiting effect on the growth of substantial economy. Growth in the substantial economy will drive up economic policy uncertainty before 2016 and restrain it after that. In addition, this paper further subdivides economic policy uncertainty to explore the causal differences between different types of economic policy uncertainty and substantial economic growth. The test results show that the relationship between them has obvious policy heterogeneity. The fiscal policy uncertainty and the monetary policy uncertainty, as the main policy means in China, has a significant impact on the growth rate of substantial economy in multiple ranges, but the effect time is short. Although trade policy uncertainty has a significant impact on the growth rate of substantial economy only during the financial crisis, the effect lasts for a long time. The impact of exchange rate and capital account policy uncertainty on the growth rate of substantial economy is mainly reflected after 2020.

The values of this paper are as follows: First, the economic policy uncertainty is combined with the growth of substantial economy, which makes up the gap of previous studies. Second, the economic policy uncertainty is further subdivided. The paper explores the causal differences between different types of economic policy uncertainties and the growth of substantial economy, so as to make the research more detailed. Finally, different from the previous static analysis, this paper uses dynamic model to examine the relationship between China's economic policy uncertainty and the growth of substantial economy from a dynamic perspective, with richer research conclusions.

The aim of this paper is to disentangle the contemporaneous and non-contemporaneous relationship between regional business cycles and manufacturing productivity in a developing country, namely Colombia.

The methodology is quantitative. To deal with the problems of endogeneity in the production function and with the law motion of productivity (the Markov process), the authors obtain Total Factor Productivity (TFP) through the Wooldridge’s two equations system that can be jointly estimated under the generalized method of moments framework (GMM). Secondly, to avoid bias we estimate regional business cycles through the Kalman filter. Subsequently, we implement an instrumental variables/generalized method of moments regression (IV/GMM) to capture the contemporaneous and endogenous TFP–GDP cycles’ linkage at the regional level. Lastly, to deal with the non-contemporaneous link, the authors estimate a vector autoregressive model with exogenous variables (VARX) for each region. We also present the corresponding impulse–response functions.

The authors’ general results suggest a remarkable causality, both contemporary and non-contemporary, from productivity to GDP (but not vice versa) in the most developed regions of the country. This implied productivity could influence in the economic growth of regions in short and long runs. These results are different than those expected by economic theory and should be considered by local economic policy makers.

The authors consider that a more detailed analysis should be carried out at the level of each sector within the manufacturing industry to further clarify these findings.

The policy should be oriented to obtaining cutting-edge technologies through subsidies, and also should facilitate the access to financial capital and the investment in R&D laboratories. On the other hand, the link with international trade also must be reinforced because the importing of intermediate inputs and exporting of output allow the firms to obtain embodied technologies, also to incur on learning by exporting and importing processes and finally to gain experience and competitiveness in foreign markets.

The causality in the region that provides more than 50% of economic activity within the country (Third region) is only in one directional, from TFP towards gross domestic product (GDP) and not vice versa. As the influence from GDP towards TFP is minimal in the remaining regions, the manufacturing productivity influences both short and long run regional economic growth in Colombia. This implies that economic policy at the level of macro-region must be modified; the government should give additional support to the manufacturing sector, especially in developed regions and for the small and medium-sized enterprises (SMEs) (wich represent 92% of manufacturing firms) to increase economic growth in the future.

The authors’ contribution is threefold. First, they pay special attention to the contemporaneous cyclical relationship (i.e. pro-cyclical, counter-cyclical or acyclic) and the non-contemporaneous causality with productivity. Second, they estimate productivity with the GMM two equation system considering an endogenous Markov process. Third, to the best of their knowledge, at least in the case of Latin America, there are no studies in this direction combining these statistic methods, including that of Colombia.

This study examined Taiwan's fiscal policy responses for sustainable post-COVID-19 recovery. The costs and benefits, aligned with Sustainable Development Goals (SDGs), of fiscal policy responses were identified and valued. Although it may be too early to conclude whether the benefits outweigh the costs, the performance and outcome of fiscal measures were evaluated.

The study relied on secondary data, including governmental official data, legislative reviews, audit reports and public opinion polls to understand objective and subjective benefits and costs in economic, social and environmental dimensions. However, while the costs were measured in monetary terms, some of the benefits (i.e. satisfaction) could not be monetized; therefore, this study focused on identifying and valuing benefits from fiscal measures but set aside the issues of monetizing and discounting.

With respect to the costs, a special budget of NT$840 billion was approved, of which 66.83% was allocated for economic development, 33.12% for social welfare and 0.05% for environmental protection. In terms of the benefits, the economic growth rate was forecasted to be 5.88% in 2021 and 3.69% in 2022, while the average economic growth rate was 2.77% during the period from 2012 to 2019. Social equity was emphasized as various and customized bailout packages were provided to impacted individuals and industries. Moreover, most citizens were confident in the government's efforts to combat the pandemic and stimulate recovery in Taiwan.

This paper comprehensively details Taiwan's experience of fiscal policy responses for sustainable post-COVID-19 recovery. The cost-benefit approach was conceptually adopted. Bearing the value of “build back better” and “rebuild better,” the benefits of fiscal measures are promising, although there are indebted costs of the special budget.

The purpose of this study is to investigate the impact of COVID-19 on some fiscal and monetary indicators in the Kingdom of Saudi Arabia.

The research relied on data, studies and reports issued by the International Monetary Fund, Arab Monetary Fund, Saudi Central Bank, Investing Website and the World in Data Website.

Many sectors have been affected by the COVID-19 pandemic, which outbreak has been associated with a high cost, in addition to increased inflation and prices, a result that was confirmed by the increase in consumer price indices for different sectors. The general consumer price index for the second period rose above that of the first period, while an upward shift occurred in the curve depicting the Saudi Riyal exchange rate against the United States (US) dollar during the second period above that of the first period, only in slope, due to outbreak of the pandemic. Impact of the number of daily new cases infected with COVID-19 was the highest on the opening and closing price indices of the food retail sector, the pharmaceutical sector and the transportation sector; while impact of the number of daily deaths by COVID-19 was the highest on the opening and closing price indices of the banking sector, the general index and the investment and finance sector. In addition, impact of the daily reproduction rate of COVID-19 was the highest on the opening price indices of the energy sector, the food production sector and the transportation sector.

The research aims to demonstrate measures taken by the Kingdom of Saudi Arabia through fiscal and monetary policies.

The COVID-19 pandemic is still an ongoing global pandemic. The virus was first identified in Wuhan City in China at the beginning of December 2019. At the end of January 2020, the World Health Organization (WHO) declared that the outbreak of the virus represented a public health emergency, and later, on March 11, 2020, WHO declared the situation had transformed into a pandemic. Until January 17, 2022, the pandemic had caused more than 328 million cases and 545 million deaths, while 188 million of the cases had recovered. It is worth mentioning that the pandemic caused several social and economic disruptions, including a global economic recession; shortages in goods, supplies and equipment due to consumers' panic and thus tendency to buy; besides causing other disruptions like the negative impacts on health, as well as political, cultural, religious and sport events that influenced economic policies, including both the fiscal and monetary policies of world countries (Wikipedia, 2022).

Social implications steps that taken to reduce the impacts of the COVID-19 pandemic, in addition to measuring the impacts of the COVID-19 pandemic (as the main event next to which other events fade up) on some of the fiscal and monetary indicators for the Kingdom of Saudi Arabia.

The research aims to demonstrate measures taken by the Kingdom of Saudi Arabia through fiscal and monetary policies to mitigate the impacts of the COVID-19 pandemic, in addition to measuring the impacts of the COVID-19 pandemic (as the main event next to which other events fade up) on some of the fiscal and monetary indicators for the Kingdom of Saudi Arabia.