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Publisher: KSP Journals   (Total: 6 journals)   [Sort by number of followers]

Showing 1 - 6 of 6 Journals sorted alphabetically
J. of Economic and Social Thought     Open Access   (Followers: 1)
J. of Economics and Political Economy     Open Access   (Followers: 5)
J. of Economics Bibliography     Open Access  
J. of Economics Library     Open Access   (Followers: 7)
J. of Social and Administrative Sciences     Open Access  
Turkish Economic Review     Open Access  
Journal Cover Journal of Economics Library
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   ISSN (Print) 2149-2379
   Published by KSP Journals Homepage  [6 journals]
  • How Trade Facilitation Measures influence Export Orientation? Empirical
           Estimates with Logistics Performance Index Data

    • Authors: Debashis CHAKRABORTY, Sacchidananda MUKHERJEE
      Pages: 554 - 569
      Abstract: Abstract. With inception of a comprehensive WTO framework in 1995, while the tariff barriers across Member countries have declined, several procedural and policy-related hassles still continue to obstruct trade flows. To reduce the procedural hassles to export and import flows, from the Cancun Ministerial (2003) onwards, negotiations to reach an agreement on Trade Facilitation (TF) started, which was finally concluded at the Bali Ministerial (2013) meeting of the WTO. The current analysis explores the relationship between TF measures, as reflected from the World Bank Logistics Performance Index (LPI),and export orientation (export as percentage of GDP) during four years, namely 2007, 2010, 2012 and 2014. The empirical results underline the difference in the influence of TF on export orientation in higher-income and lower-income countries. It is concluded that there is need to continue the ‘Aid-for-Trade’ support measures to lower-income economies, for improving their TF scenario.Keywords. Trade policy, Trade facilitation, Exports, LPI, Empirical estimate, Aid-for-Trade.JEL. F13, F14.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • What DCC-GARCH model tell us about the effect of the gold price’s
           volatility on south african exchange rate?

    • Authors: Léleng KEBALO
      Pages: 570 - 582
      Abstract: Abstract:The aim of this paper is to study through a model rarely used and little known, the effect of the gold price’s volatility on the south african real exchange rate. More precisely, it is to show that, through the dynamic conditional correlation (DCC) GARCH model; we get results that are consistent with economic works (Frankel, 2007) on the relationship between gold price’s volatility and the real exchange rate. The period retained in this research paper going from May 1995 to April 2014 and the frequency of the data is monthly. After analysis, we find that in the short term, the real exchange rate is more sensitive to its own volatility, compared to the effect of the volatility of gold price. This last effect, although high, is less persistent on the real exchange rate.Keywords: Volatility, Exchange rate, Gold price, DCC-GARCH.JEL. C50, F30, F40.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • A Comment on Nonextensive Statistical Mechanics

    • Authors: Oded KAFRI
      Pages: 583 - 586
      Abstract: Abstract. There is a conception that Boltzmann-Gibbs statistics cannot yield the long tail distribution. This is the justification for the intensive research of nonextensive entropies (i.e. Tsallis entropy and others). Here the error that caused this misconception is explained and it is shown that a long tail distribution exists in equilibrium thermodynamics for more than a century.Keywords. Long-tail distribution, Power Law, Zipf Law, Tsallis Entropy.JEL. C62.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • Understanding ‘Shared Valued’ and Social Capital Link to Pave the Path
           of next Generation of Innovation

    • Authors: Mubashar Majeed QADRI, Dawood MAMOON
      Pages: 587 - 602
      Abstract: Abstract. The idea “Creating shared value” (CSV) offers a resolute direction to the debate on the link between business and society which can be restored through three distinct actions such as a) reconceiving products and markets; b) redefining productivity in the value chain; and c) building supportive industry clusters. The critical analysis predicts that the path of these actions is progressive in nature and their scope apparently ranges from narrow to wider deliberations. Keeping variant scope of proposed actions, this paper focuses only first course of action as it paves the path of new wave of innovation. For this new wave of innovation, the role of social capital is explored to determine the extent this capital can derive next wave of innovation. In this regard, a model is proposed to predict the link between various dimensions of social capital and innovation that can produce both social and business revenues. The proposed model assumes that narrow conceptualization of social capital to network theory only and ignoring its origins and deep rooted relations with community will lead towards routine innovations that lacking potential benefits of shared value. If organizations emphasize more and invest in developing relationships restricted to network actors, then potential benefits might be unnoticed. Therefore, like defining ‘value’ too narrowly due to strategic myopia, keeping the social circle of small radius also limit the organization’s ability to exploit the embedded potential of social capital necessary to pave the path of new generation of innovation benefiting both business and society.Keywords. Creating shared value (CSV), Social capital, Innovation, Network relationship(s).JEL. O31, O35, Q55.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • Mechanism of Hyperbolic Growth Explained

    • Authors: Ron W. NIELSEN
      Pages: 603 - 620
      Abstract: Abstract. Fundamental law of growth is used to explain the mechanism of hyperbolic growth of human population and of the Gross Domestic Product (GDP). Hyperbolic growth is described by a simple mathematical formula and the explanation of its mechanism turns out to be also simple. Historical economic growth was prompted by the familiar net market force, which was on average directly proportional to the existing wealthexpressed usually as the GDP. The larger was the GDP, the stronger was the driving force and the faster was the economic growth. It is shown that this simple force generates hyperbolic growth. No other force is required. Hyperbolic growth is not assumed but derived when using this force. Historical growth of population was prompted by thebiologically driven force of procreation, which was on average approximately constant per person. This force includes the natural, familiar, biologically controlled process of births, aging and dying. Here again, hyperbolic growth is not assumed but derived when using this force.Explanation of two demographic transitions in the past 12,000 years in the growth of population and of the currently experienced transition is also proposed. Currently, economic growth and the growth of population are no longer unconstrained. Other additional forces contribute significantly to the growth process and the growth is no longer hyperbolic.Keywords. Hyperbolic growth, Mechanism of growth, Population growth, Economic growth.JEL. A10, A12, A20, B41, C02, C20, C50, Y80.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • The Sources of Economic Growth in Iran’s Economy

    • Authors: Mehrdad KHADIMEE
      Pages: 621 - 631
      Abstract: Abstract. This paper estimates the shares of Total Factor Productivity Growth (TFPG), labor accumulation, and capital stock accumulation in Iran’s economy, and analyzes the time trend of the TFPG over the course of 1360-1392 of the Solar Hijri calendar (approximately equal to the 1981-2013 of the Gregorian calendar). Few studies have already been carried out for estimating sources of economic growth in various countries and different economic sectors. Nevertheless, little attention has been paid to Iran’s economy in recent years. After testing for the stationarity of the variables using Dickey-Fuller tests, this study estimates an aggregate production function for Iran’s economy using times-series econometric methods. The results suggest that the production structure of Iran’s economy is more capital-intensive than being labor-intensive. In fact, the elasticities of production with respect to capital and labor have been 0.59 and 0.41, respectively. The findings show that the average annual growth rate of TFP has roughly been 0.5% over the study time period. The other results imply that the average contributions of TFPG, labor accumulation and capital accumulation in Iran’s economic growth have been 15%, 30%, and 55%, respectively. As a result, it could be inferred that the performance of Iran’s economy in terms of long-run, economy-wide productivity growth has been weak compared to that of other developed and developing countries, in most of which TFPG possesses relatively greater shares in their economic growth.Keywords. Iran, Sources of economic growth, Aggregate production function, Capital accumulation, Employment.JEL. O47.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • The Impact of Poverty on Corruption

    • Authors: Mustafa ÜNVER, Julide Yalçınkaya KOYUNCU
      Pages: 632 - 642
      Abstract: Abstract. This paper examines the effect of poverty on corruption using annual unbalanced panel data analysis on 154 countries from 2000 to 2013. In the models, we use corruption measures from three alternative sources as a dependent variable while independent variables are five different poverty measures. In addition, this study has some control variables, such as foreign direct investment (FDI), trade openness, inflation rate and democracy level. According to empirical results, all poverty variables and inflation rates have statistically significant and positive effects on corruption, while FDI, trade openness and democracy levels have statistically significant and negative effects.Keywords. Poverty, Corruption, Inflation, FDI, Democracy.JEL. O15, K42, E31, D72.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • The Effect of Oil Prices and Regime Switches On Real Effective Exchange
           Rate in Pakistan: A Markov Regime Switching Approach

    • Authors: Syed Shujaat AHMED, Abdul QAYYUM
      Pages: 643 - 661
      Abstract: Abstract. This study takes into the account relationship between oil prices and real effective exchange rate by using different exchange rate regimes in Pakistan. In this study following (Meese & Rogoff, 1988) and (Throop,1993) Interest Rate Parity has been used to construct a model by using real effective exchange rate, Dubai crude oil price and interest rate differential from period of 1970m01 to 2014m03. Through examining the results all variables are found to be integrated of order one. The long run relationship has been examined between real effective exchange rate and Dubai crude oil price in case of all exchange rate regimes with the use of regime dummies and interaction terms except for no regime, two-tier exchange rate regime and unified exchange rate regime. Similarly between real effective exchange rate and interest rate differential long run relationship has been examined in all the exchange rate regimes. Long run and dynamic result has also been detected except for interest rate differential with the use of exogenous exchange rate regime dummies. Oil price impacting exchange rate positively in both long and short run, while interest rate differential negatively effects exchange rate in long run. Through examining the results for impact of exchange rate regime switching on exchange rate, during 1970-2000 structural shifts were causing the change in exchange rate regimes with depreciation being high during this period.Keywords. Interest rate parity, Exchange rate regime, Regime switching, Structural shift and Dubai crude oil price.JEL. E42, E43, F31.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • 20th Finance Symposium

    • Authors: Hasan AYAYDIN
      Pages: 662 - 663
      Abstract: Abstract. 20th Finance symposium organized by Karadeniz Technical University in collaboration with Finance Science Platform (FBP), sponsored by Eastern Black Sea Development Agency (DOKA) and The Central Bank of Republic of Turkey (CBRT) on October19-22, 2016.20th Finance symposium aims at bringing together academicians and decision makers involved in research and contributing to the scientific and social activities of the scientists working in the field of finance, helping to announce these activities to the public, symposiums, conferences, open sessions etc. in the field of finance. Submitted papers as well as presentations and discussions at the conference was conducted in English or Turkish In this way, it was more participation in conference and scholars have opportunity to share easily their academic studies. At the same time, this conference provided them to find out and meet and even to make cooperation with renowned academician. As a general evaluation, 20th Finance symposium2016 provided a remarkable platform for scholars to increase their knowledge and expand the viewing angle.Keywords. Finance, Finance discipline, Stock markets.JEL. A10, G30, G32.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
  • New Economics Books

    • Authors: Journal of Economics Library
      Pages: 664 - 711
      Abstract: A wide ranged Editor Selection of economic books published within the last 3 months by the publishers (for now; Cambridge University Press, Edward Elgar, Elsevier, MIT Press, Palgrave MacMillan, Springer, Wiley, and World Scientific) which are reached out “the consensus of no copyright infringement exists” could be found under this title. Afterwards, JEL will continue to publish the economic books published within the last 3 months as listing them in its quarter edition. This is expected to enable the journal readers to follow the related literature and be aware of the new books. The list will continue to expand as accepting the books of new co-operated publishers and personal applications. The list order is organized according to book titles’ alphabetic priority.
      PubDate: 2016-12-18
      Issue No: Vol. 3, No. 4 (2016)
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Heriot-Watt University
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