Search results

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The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.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 aims to investigate the viewpoints of heterodox economic thoughts and Islamic economic thought concerning the concept of waste. Additionally, it explores the shared criticisms that both perspectives hold against mainstream economic thought in relation to waste.

First of all, the concept of waste is examined and the global effects of waste are investigated. Criticisms directed in the context of waste in mainstream economics in the context of heterodox school thoughts are examined. Likewise, criticisms directed in the context of waste in mainstream economics in the context of Islamic economic thoughts are examined. Finally, the common and different aspects of heterodox and Islamic economic thoughts were discussed, and the common criticisms of mainstream economic thought’s point of view toward waste were examined. This study is a theoretical, qualitative study.

Although both ideas have different aspects, heterodox and Islamic economic thoughts believe that the mainstream economy, which is based on capitalism and materialism, creates waste by ignoring the long-term social and environmental consequences of economic activity. They argue that the pursuit of profits and growth, without considering the impact on society and the environment, leads to an inefficient and unsustainable use of resources.

The best author’s knowledge, by emphasizing the common and different aspects of Islamic economics and heterodox thoughts, this study is the first to examine the concept of waste in the context of the common aspects of these ideas.

Circular economy (CE) is receiving increasing worldwide attention as a manner to overcome the challenges linked to current trends of unsustainable energy and resource consumption. This paper aims to fill this gap and analyze the adherence to sustainable, access-based and collaborative consumption practices by exploring the role of CE awareness, specifically in the context of Porto, the second-largest city of Portugal.

The methodology of choice is quantitative, based on partial least square-based structural equation modeling.

The result shows that there is an influence of CE awareness on subsequent sustainable consumption models.

Present research contributes to the theory on CE awareness and sustainable consumption. It proposes a model that could be applied in other countries. As this research is developed within the city of Porto, it may limit generalizations of obtained results.

As CE practices are embodied into national and local policies, this research contributes to understanding local contexts of CE practices dissemination, providing practical suggestions for businesses and policymakers aiming the transition to the CE.

An original approach to measuring the awareness of CE economy is proposed, that is analyzed not only from the familiarity perspective but in six dimensions of its construction: familiarity, importance, perception or interpretation, advantages, social impact and barriers in this process. Further, the conceptual model of the impact that these dimensions have on the adoption of sustainable consumption models (purchase of sustainable products, access-based and collaborative consumption) is proposed.

This impact pathway manuscript motivates and guides operations and supply chain management (OSCM) researchers to deeply consider the role of suppliers in greenhouse gas (GHG) emissions reduction. It prompts a reconsideration and update of their understanding of climate change in their research and the positive influence that research could have, specifically on reducing GHG emissions and slowing climate disasters.

The authors use qualitative research methods, including a literature review, interviews with NGOs, focus groups with purchasing professionals and in-depth case studies.

The results provide insights into purchasing’s role in the engagement of suppliers in GHG emissions reduction efforts as organizations begin to advance the sustainability journey toward suppliers’ emissions reduction and their contribution to improvements in supply chain GHG emissions. The paper calls for more actionable academic research that can contribute to theory and practice.

This impact pathway article discusses how the topic of GHG supply chain emissions reduction is viewed in both research and practice. The current dire state of the environment and purchasing and supply chain involvement in GHG emissions reduction initiatives points to the need to develop impactful research. The paper closes with guidance on potential future research opportunities.

The pressure on companies to reduce their GHG emissions has never been more significant, and companies have never before made as many public commitments to reduce their GHG emissions both internally and across the supply chain as they are making today. Managers must truly understand their role in reducing GHG emissions and their supply chain implications.

GHG emissions reduction and associated climate change are top issues on the global climate agenda. Reducing emissions (and related climate change) has important positive implications for human health. This is especially true among underrepresented communities, which tend to be disproportionately impacted by living and working in weather-exposed climates with poor air quality.

The authors aim to stimulate new research and discussion through this pathway paper. The climate crisis is real, and the world is missing its GHG reduction targets. If companies limit their efforts and continue to make excuses, the world will continue its path to climate disaster.

The purpose of this study is to empirically investigate how external debt vulnerability has affected the economy of emerging countries over time, with particular reference to Sub-Saharan African countries. It also deals with the policy issues associated with the economic effects.

The techniques of dynamic ordinary least squares and fully modified ordinary least squares are used in this investigation, covering the period 1990–2022. A panel of 43 Sub-Saharan African countries is used in the study.

The estimation results reveal that external debt vulnerability impacted negatively on economic growth, thus validating the concerns raised about the debt problem in Sub-Saharan Africa. Furthermore, the results revealed that domestic credit and openness of economy played a passive role and were therefore unable to cushion the adverse effect of debt vulnerability. Capital stock, however, stands out as the only variable that played a significant positive role in facilitating economic growth. The results are considered to be highly reliable for short-term forecast of economic growth and formulation of relevant policies.

Over the years, economic analysts and stakeholders have expressed concern about the inadequate ratio of foreign reserves to external debt in developing countries. The effect of this external debt vulnerability on the economy of these countries has yet to be given sufficient attention by researchers. In view of this perceived void, this current study is carried out to determine the economic and policy consequences of the problem.

The purpose of this study is to examine the effects of market-based approach to provision of housing to low-income households in urban Malawi.

This study was conducted in Blantyre, Malawi, between 2019 and 2022 and used both quantitative (household survey) and qualitative (in-depth interviews and document study) methods of data collection. Interviews were conducted with key players and investors in the housing sector. Household survey data were analyzed through descriptive statistics, which allowed the generation of descriptive housing valuables, whereas qualitative data were analyzed through content analysis.

This paper demonstrates that, rather than ameliorating the housing problems facing low-income households, the market approach to provision of housing in Malawi has worsened the housing situation in the country. This is so because the market approach to the provision of housing in Malawi is not only enforcing the logic of capitalistic accumulation in the housing sector but also supporting mechanisms of exclusion based on economic stratification within the community.

Completeness of data over time as there is no market data bank available in the country.

The findings from this study suggest that some degree of state intervention in addressing the housing problem in Malawi is required.

The study findings suggest that a market approach to the provision of housing can increase social inequality as low-income households face challenges in accessing housing.

There is a paucity of research on the effects of the market approach on the provision of affordable housing to low-income households in Malawi. This paper assesses this important policy gap and provides significant policy directions.

This study aims to evaluate the impact of the proposed CARICOM Octagon “High In” Warning Label (OWL), against four alternative Front-of-Package Nutrition Labels (FOPNLs): US “Facts Up Front” (FUF), UK Multi-Traffic Light (MTL), Mexican OWL and the Brazilian Magnifying Glass “High In” Warning Label, on respondents’ purchase intentions, perception of healthiness and understanding of nutritional information across and within food products.

In an online randomized control experiment, adults from eight CARICOM countries (n = 948) were randomly assigned to a control and four treatment FOPNL groups. Respondents were tasked to choose between four categories of mock products with three variations in healthfulness across and within products.

No statistically significant difference (p > 0.05) was found across FOPNL groups compared to the OWL on outcomes of purchase intentions and perception of healthfulness. Regarding the understanding of nutritional information, FUF performed the best, as participants were 1.76 times (p = 0.03) and 3.23 times (p = 0.00) more likely to correctly identify the products with the highest and lowest amount of sugar, respectively. Results were similar for products with the lowest sodium (odds ratio [OR] = 2.25, p = 0.00) and highest saturated fats (OR = 2.11, p = 0.00).

Some limitations of this study include the use of an online platform to conduct the experiment. Though this was the most cost-effective method of execution and presented many benefits, there were limitations to using this approach. Firstly, this approach may not entirely replicate the real world in store purchasing settings. Although online grocery shopping is becoming increasingly popular, in the Caribbean, most grocery purchases are made in stores. Furthermore, online surveys are more likely to lead to samples with higher educational and income levels than the average population (Bethlehem, 2010). The skewedness observed was not unique to this study and was common with similar published studies (Franco-Arellano et al., 2020; Packer et al., 2021; Talati et al., 2018). Nevertheless, all respondents were randomly assigned to groups, and it was confirmed that there were no systematic differences in the education and income levels of participants across the FOPNL groups.

Some CARICOM policy makers advocate for the use of “High In” warning labels to limit the intake of nutrients of concern (NOCs) and to encourage healthier eating habits among consumers. However, regional private sector stakeholders have expressed concern about the lack of sufficient research undertaken at a regional level, to inform the effectiveness of this model within CARICOM, and some have also expressed a preference for the use of other interpretative and reductive FOPNLs, already in use in the Region. The results of this study reveal that while interpretative FOPNLs like the Draft CARICOM Regional Standard, DCRS5 (OWL) can assist consumers in making healthier purchase decisions, it was outperformed by the MTL on perception of healthiness and by the FUF on the understanding of nutrient information. It was also noted that the DCRS5 (OWL) was more effective when choosing across products with distinct nutritional differences but performed poorly in assisting respondents with making healthy purchasing decisions when all the products contained NOCs above the relevant thresholds. This study’s findings highlight that the existing FOPNL schemes can be further enhanced for improved outcomes. This can be achieved by using a hybrid approach which includes both reductive and interpretative elements to allow for comparison across and within food products. The literature also suggests the use of colour and combining positive as well as negative elements to encourage ease of interpretation, improved understanding and healthier food choices.

A properly designed FOPNL can support consumers in making healthier food choices; however, it must be accompanied by measures to raise consumer awareness and increase the health literacy of the population to cause shifts in preferences and behavioural patterns over time. This must also be coupled with policies to make healthy food choices more affordable to the general population.

The results of this study revealed that FUF and MTL performed the best in assisting participants to correctly identify between products with the highest or lowest NOCs at the 5% significant level, and that the OWL performed poorly in assisting participants with making healthy purchasing decisions when all the products contained NOCs above the relevant thresholds.

The purpose of this paper is to critically examine the multinational oil companies’ (MOCs) corporate social responsibility (CSR) initiatives in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on mainstreaming gender sensitivity in cash crop market supply chains in the Niger Delta region of Nigeria.

This paper adopts an explanatory research design with a mixed method to answer the research questions and test the hypotheses. A total of 1,200 rural women respondents were sampled across the Niger Delta region.

Results from the use of a combined logit model and propensity score matching indicate a significant relationship between the GMoU model and mainstreaming gender sensitivity in cash crop market supply chains in the Niger Delta.

This study implies that MOCs’ CSR interventions that improve women’s access to land and encourage better integration of food markets through improved roads and increased mobile networks would enable women to engage in cash crop production.

This implies that improving access to credit through GMoU cluster farming targeted at female farmers would improve access to finance and extension services for women in cash crop production in the Niger Delta.

This research contributes to the gender debate in the agricultural value chain from a CSR perspective in developing countries and is rational for demands for social projects by host communities. It concludes that businesses have an obligation to help solve problems of public concern.

This study aims to address the macroeconomic factors effect on the travel and leisure (T&L) industry throughout Europe within the context of the Russo-Ukrainian war that have started on 24 February 2022. Specifically, top tourist destinations are analysed, such as Spain, France, Italy and Portugal, as well as Europe in general.

This study adopts the panel regression approach based on the data that is provided on a daily basis, and it covers a period of nearly 14 months, starting on 24 February 2022 and ending on 15 April 2023.

The findings indicate that the European T&L sector is impacted by macroeconomic variables. Namely, the T&L sector is significantly impacted by interest rates, geopolitical risk, oil and gas, whereas inflation has a muted effect, indicating a comparatively lesser influence on the dynamics of the industry. This research contributes to existing literature by providing one of the first quantitative analyses of how macroeconomic factors impact the European T&L business in the context of a geopolitical conflict.

A study of the Russian–Ukrainian war may be limited by a number of research constraints. The continuing nature of the conflict, the lack of communication between the parties and potential political prejudice are some of these difficulties. Any research on the Russo-Ukrainian war should be done with these limits in mind.

Macroeconomic variables play a significant role on the T&L sector development; therefore, when designing resilience strategies, they need to be accounted for.

To the best of authors’ knowledge, this is one of the first studies to analyse how macroeconomic factors affected the European T&L business using a quantitative approach. The macroeconomic variables that were taken into account in this study included interest rates, inflation, oil and petrol prices, as well as the geopolitical risk index.

Social commerce has brought about a significant transformation in consumer experience due to diverse factors. As a result, users often find themselves prone to impulsive buying behaviour when exposed to such an environment. Prior research was limited to demonstrating the expanding influence of celebrities on social media and the linkage between social engagement and impulse buying context. Furthermore, the impulse buying tendency of consumers on social media in the context of celebrity posts has yet to be validated. This paper aims to assess the influence of consumer awareness, consumer trust and observational learning on the latent state-trait (LST) theory regarding celebrity posts on impulse buying tendencies.

The empirical research builds on a sample survey involving 750 students from the “Big Four” economics universities in Hanoi. The proposed model was analysed using a partial least squares structural equation modelling technique.

The authors find that consumer trust and observational learning from celebrity’ posts positively affect impulse buying tendency. Yet celebrity influence awareness directly impacts trust in celebrity’ posts rather than directly impacting impulse buying tendency. Perceiving the importance of interactive and authentic posts by a celebrity in influencing consumers’ purchase behaviour on social media, this research offers valuable insights for stakeholders in the digital celebrity sphere of communication and marketing.

Perceiving the importance of interactive and authentic posts by a celebrity in influencing consumers’ purchase behaviour on social media, this research offers valuable insights for stakeholders in the digital celebrity sphere of communication and marketing.

From a theoretical perspective, this expands the applicability of the LST theory in social commerce to promote impulse buying tendencies. Second, this contributes to the literature on the emerging phenomenon of social media celebrities, as existing literature does not clarify their influence on impulse buying behaviour. Third, this research applies the concept of observational learning in online shopping through key features of social media platforms, namely, likes, shares and comments, to investigate their influence on the impulse buying tendency of consumers. Concerning managerial implications, the authors propose practical recommendations for practitioners, particularly those involved or interested in the commercial services industry and social media marketing (namely, celebrities and partner companies).