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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: 4)
J. of Economics Bibliography     Open Access  
J. of Economics Library     Open Access   (Followers: 8)
J. of Social and Administrative Sciences     Open Access  
Turkish Economic Review     Open Access  
Journal Cover Journal of Economics Library
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  This is an Open Access Journal Open Access journal
   ISSN (Print) 2149-2379
   Published by KSP Journals Homepage  [6 journals]
  • Changing the direction of the economic and demographic research

    • Authors: Ron W. NIELSEN
      Pages: 288 - 309
      Abstract: Abstract. A simple but useful method of reciprocal values is introduced, explained and illustrated. This method simplifies the analysis of hyperbolic distributions, which are causing serious problems in the demographic and economic research. It allows for a unique identification of hyperbolic distributions and for unravelling components of more complicated trajectories. This method is illustrated by a few examples: growth of the world population during the AD era; growth of population in Africa; economic growth in Western Europe; and the world economic growth. They show that fundamental postulates of the demographic and economic research are contradicted by data, even by precisely the same data, which are used in this research. The generally accepted postulates are based on the incorrect understanding of hyperbolic distributions, which characterise the historical growth of population and the historical economic growth. In particular, data used, but never analysed, during the formulation of the Unified Growth Theory show that this theory is based on fundamentally incorrect premises and thus is fundamentally defective. In this theory, distorted representations of data are used to support preconceived and incorrect ideas. Precisely the same data, when properly analysed, show that the theory is incorrect. Application of this simple method of analysis points to new directions in the demographic and economic research. It suggests simpler interpretations of the mechanism of growth. The concept or the evidence of the past primitive and difficult living conditions, which might be perhaps described as some kind of stagnation, is not questioned or disputed. It is only demonstrated that trajectories of the past economic growth and of the growth of population were not reflecting any form of stagnation and thus that they were not shaped by these primitive and difficult living conditions. The concept or evidence of an explosion in technology, medicine, education and in the improved living conditions is not questioned or disputed. It is only demonstrated that this possible explosion is not reflected in trajectories of the economic growth and of the growth of population. Growth trajectories were increasing monotonically during the generally claimed epoch of stagnation and during the claimed explosion.Keywords. Hyperbolic distributions, Reciprocal values, Economic growth, Growth of human population, Industrial revolution, Unified Growth Theory, Growth regimes, Gross Domestic Product.JEL. A10, A12, A20, B41, C02, C12, C20, C50, Y80.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1411
      Issue No: Vol. 4, No. 3 (2017)
       
  • Determinants of health and education in Latin America

    • Authors: Noha EMARA, Evelyn MORFIN, Rachael AMICK
      Pages: 310 - 321
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1377
      Issue No: Vol. 4, No. 3 (2017)
       
  • Determinants of value added tax revenue in Kenya

    • Authors: Nelson WAWIRE
      Pages: 322 - 344
      Abstract: Abstract. Past studies that have been undertaken on the responsiveness of Value Added Tax revenues to changes in GDP in Kenya have found a positive relationship. However, the studies omit key determinants of tax revenues, such as the nature of the tax system, institutional, demographic and structural features of the economy. Due to this omission, the estimated income elasticities are unreliable for planning purposes, a situation that might be responsible for the recurring budget deficits. The specific objectives of thepaperare to establish the determinants of Value Added Tax revenue and assess yields responseto changes in bases and reforms. The paper uses Paul Samuelson's (1955) the paper are fundamental general equilibrium analysis of the public sector to derive its main results. The estimation results show that GDP elasticity is less than the elasticities with respect to monetary GDP, suggesting the existence of an underground economy. It is also found that tax yields respond with substantial lags to changes in its determinants and revenues are sensitive to reforms and unusual circumstances. The study concludes that Kenya’s Value Added Tax revenue is very responsive to changes in its determinants especially international trade. There is the challenge of creating a stable Value Added Tax system.Keywords. Tax revenue, Elasticity, Tax system, Underground economy, Unusual circumstances.JEL. H25, H24, H27.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1391
      Issue No: Vol. 4, No. 3 (2017)
       
  • Inflation and economic growth

    • Authors: Sergey BLINOV
      Pages: 345 - 358
      Abstract: Abstract. Attempts to establish a link between inflation and economic growth are made quite regularly. The aim of such attempts is not only to determine the impact of inflation on economic growth but also to assess efficiency of the inflation rein-in policy, for example, the policy of inflation targeting. This work reveals the nature of the inter-connection between inflation and economic growth and explains why this inter-connection cannot be sustainable without considering the third parameter, i.e. money supply.Keywords. Monetary policy, Price level, Inflation, Deflation, Economic growth, Business cycles.JEL. E30, E32, E51, E52, E58, N10, O11, O40, O42.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1381
      Issue No: Vol. 4, No. 3 (2017)
       
  • Can micro credit schemes be introduced by formal banking sector'

    • Authors: Dawood MAMOON
      Pages: 359 - 371
      Abstract: Abstract.The paper explains the supply side dynamics of micro credit that is about the sustainability of Micro Finance Institutions. The study suggests that formal banking sector framework should be applied to micro credit schemes to analyse their efficiency. This may help us provide a methodology unconventional to micro credit literature that can provide guidelines for successful micro credit endeavors by formal financial institutions.Keywords. Micro credit, Banking sector, Sustainability.JEL. G20, G21, G24.
      PubDate: 2017-10-12
      DOI: 10.1453/jel.v4i3.1440
      Issue No: Vol. 4, No. 3 (2017)
       
  • Fiscal policy and the Ricardian equivalence: Empirical evidence from
           Morocco

    • Authors: Mouna MARZOUK, Youssef OUKHALLOU
      Pages: 372 - 381
      Abstract: Abstract. This paper empirically investigates the validity of the Ricardian equivalence hypothesis in Morocco, based on recent data (1980-2016) that encompasses interesting episodes of demand-oriented expansionary government policy during the second half of the 2000s, followed by significant restrictive fiscal measures starting from 2012. We use the SVAR methodology, which enables us to make the difference between the dynamics of savings and the budget deficit by separating them into two types of shocks. Our results suggest that the equivalence is verified in the Moroccan macroeconomic framework. The paper concludes that national savings offset up to 76% of fiscal deficit shocks.Keywords. Fiscal deficit, National savings, Ricardian equivalence, SVAR model.JEL. H31, E21, E62.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1397
      Issue No: Vol. 4, No. 3 (2017)
       
  • Mitigating market risks in the ASEAN ecosystem to foster inclusive growth

    • Authors: Patrick D. CAOILE
      Pages: 382 - 387
      Abstract: Abstract. Inclusive rather than exclusive growth is the consideration of most development strategies in charting the economic growth of their country. The ASEAN as a single market and collective body should consider this as its paramount concern. Now part of inclusive growth strategies is to identify the risks and impediments to its realization. Now generally there are two types of financial risks namely: market systemic risks and the unsystemic risk. The unsystemic risk is mitigated by the Markowitz portfolio theory that was subsequently improved by Sharpe with the Capital Asset Pricing Model (CAPM). Portfolio theory relies on the comfort of large numbers. If you have only one investment avenue and it fails then you lose all your investment but if you spread it over 40 investment destinations then you are virtually insulated provided the investments are inversely correlated. If these are positively correlated then it follows only one direction and will simulate market systemic risk. Market risk is unexplored territory. The Mexican hat wavelet theory was used to plug the unequal equation. The U.S. government used a combination of bailout plan and stimulus package that Krugman criticized since the size of the package is a hit or miss game. If it is too much then fiscal imbalance might happen that will trigger budget deficits. If too little then no stimulus will happen. Krugman proposed exchange rate modification to make your currency cheaper for exports as an improvement of the Mundell Fleming model. Economics is interrelated and interconnected and this is very evident in financial economics. Mitigating market systemic risks relies on the interdependence on interest rates, stimulus package, and foreign exchange into an algorithm that involves the Mexican hat wavelet equation.Keywords. Mitigating market risks, Mexican hat wavelet, Systemic risk, Portfolio theory, Mundell-Fleming model.JEL. C40, C50, C57.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1384
      Issue No: Vol. 4, No. 3 (2017)
       
  • Factors affecting the services sector growth in Pakistan: A time varying
           parametric approach

    • Authors: Ambreen ZEB, Khadim HUSSAIN, Usman AHMAD, Muhammad AJMAIR
      Pages: 388 - 395
      Abstract: Abstract. This empirical study followed time varying parametric approach (Kalman Filter) to find out relevant determinants of Pakistan’s services sector’s growth. To our best of knowledge, no author has made such study that could collect a number of variables from existing empirical literature and capture the impact of structural changes on relevant determinants of services sector growth in Pakistan while employing Kalman Filtering approach. Current study bridges this gap. Annual data was taken from World Development Indicators (2014) during period 1976-2014. Main findings of the study are that rolling regression estimates of explanatory variables justify the use of Kalman filtering approach. The state space Results show that foreign direct investment and gross national expenditures are positive and significant determinants of services sector growth while inflation, domestic credit to private sector, gross fixed capital formation, and remittances received and trade openness have negative impact on services sector growth. One step ahead graph inflation, domestic credit to private sector, foreign direct investment, gross national expenditures, gross fixed capital formation, remittances received and trade openness indicate that model estimated was stable as critical bounds(dotted line) in graph 2 are not crossed by central line. Based on empirical findings, it is recommended the concerned authorities to augment gross national expenditures and foreign direct investment to achieve long run services sector growth for better economic growth in country.Keywords. Services sector, Kalman filter, Rolling regression, Inflation, Foreign direct investment.JEL. F21, F40, N57, O13.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1416
      Issue No: Vol. 4, No. 3 (2017)
       
  • Structural capital of Malawi: Year 2005-2014

    • Authors: Tzu-Yorn KAO, Kuan-Chun HUANG
      Pages: 396 - 401
      Abstract: Abstract. Not being put as a central agenda when dealing with various forms of significant capitals of a nation, structures (and processes) that carry people, actions, resources, and systems to run are very important. This paper reports the face and development of structural capital of Malawi as a rapidly developing country in Africa. The results showed that, CPIA business regulatory environment (i.e., Business competition environment), Business extent of disclosure (as it reflects Government efficiency), CPIA property rights & rule-based governance rating (Intellectual property right protection), Computers in use per capita, and Ease of doing business(i.e., Convenience of establishing new firms) remained at similar level and with less rapid growth. Positively, the number of firms using banks to finance investment (i.e., capital availability) and the Mobile phone subscribers are two factors that feature this economy’s structural/process capital strength. Theoretical and policy implications follow.Keywords. Intellectual capital, National wealth, National capital, Intangible assets, Economic growth.JEL. M10, M11, M14.

      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1404
      Issue No: Vol. 4, No. 3 (2017)
       
  • 18. International symposium on econometrics operation research and
           statistics

    • Authors: Mehmet BÖLÜKBAŞ
      Pages: 402 - 403
      Abstract: Abstract. “XVIII. International Symposium on Econometrics Operations Research and Statistics” hosted by Karadeniz Technical University, Faculty of Economics and Administrative Sciences, Department of Econometrics was held in Trabzon between 5th and 7th of October, 2017. The symposium is convened once a year and organized by different universities in different cities every year. Trabzon, which is the most important center in the history and socio-cultural aspects of the Eastern Black Sea Region, hosted the international symposium this year. The symposium did not have a special theme but it aimed to create an atmosphere for academics, professionals and young researchers in the field of econometrics, operations research and statistics. It can be said that the goal was realized because there was an immense interest to the symposium and more than 300 papers were presented during the symposium with parallel sessions. The contents of the symposium papers consisted of new method applications and current economic developments.Keywords. Econometrics, Operations research, Statistics, Turkey.JEL. B23, C44, C15, O53.
      PubDate: 2017-09-18
      DOI: 10.1453/jel.v4i3.1445
      Issue No: Vol. 4, No. 3 (2017)
       
  • New Economics Books

    • Authors: Journal of Economics Library
      Pages: 404 - 450
      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: 2017-09-17
      DOI: 10.1453/jel.v4i3.1447
      Issue No: Vol. 4, No. 3 (2017)
       
 
 
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