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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: 2)
J. of Economics and Political Economy     Open Access   (Followers: 7)
J. of Economics Bibliography     Open Access   (Followers: 1)
J. of Economics Library     Open Access   (Followers: 8)
J. of Social and Administrative Sciences     Open Access  
Turkish Economic Review     Open Access   (Followers: 1)
Journal Cover
Journal of Economics Library
Number of Followers: 8  

  This is an Open Access Journal Open Access journal
ISSN (Print) 2149-2379
Published by KSP Journals Homepage  [6 journals]
  • Expectations over durable assets: How to avoid the formation of value
           bubbles

    • Authors: Victor H. ROSAS MARTINEZ
      Pages: 200 - 210
      Abstract: . There is a finite set of characteristics which can be present in a durable asset adding value to it, and that are not necessarily part of it in the moment of its acquisition. We represent formally how the expectations over the possible future characteristics of these goods influence its price, and get the conditions for the formation of bubbles, which allows us to propose mechanisms to avoid this kind of instinctive collective regimes. Posteriorly we extend our analysis to consider the case of monopoly and of an m-firms oligopoly producing these kinds of goods, finding that the cardinality of the firm(s)' possible plans of production to maximize benefits is the same. We show relation between the assets' prices and the cardinalities of the sets of suppliers, assets' varieties and entry consumers, with an indirect dependence on the rent labor wages. We model boundedly an analysis of the effect of tendencies like corruption on newly informed and non-Bayesian probabilities that constitute the prices. Finally, some extra provided mechanisms to avoid bubbles focus in reverting badly programed rule of thumbs, to get back to the right great rules respect.Keywords. Non-bayesian expectations, Price bubbles, Profit maximization, Competition, Corruption, Mechanism design.JEL. G12, G13, G18, G28, K42.
      PubDate: 2018-09-18
      DOI: 10.1453/jel.v5i3.1746
      Issue No: Vol. 5, No. 3 (2018)
       
  • Empirical analysis of relationship between investment, good governance and
           GDP growth rate in Pakistan (1996-2016)

    • Authors: Erum Khushnood Zahid SHAIKH, Naveed Ahmed SHAIKH, Imtiaz PIRZADA
      Pages: 211 - 220
      Abstract: . Progress and prosperity of the nations, directly or indirectly depend on economic growth of the country. High and stable GDP growth rate indicate economic strength of the nation, which depend on various economic and non-economic factors. Investment (i.e. both private and public) provides significant contribution to the economic growth and development in a country. On the other hand, non-economic factors also play an important role in developing productive environment and enhancing productive capacity of the economy. Pakistan is a developing country and its weak and unstable economy demands high and stable GDP growth rate while it is subsisting on low and unstable GDP growth rate. Therefore, it is required to explore major economic and non-economic factors that hinder the GDP growth rate in Pakistan. In order to find out empirical impact of economic and non-economic factors on GDP growth rate in Pakistan, ARDL approach was applied on time series data during the period of 1996 to 2016. Empirical results confirmed the existence of log run relationship between dependent and independent variables. In addition, the speed of adjustment was not found to be very high (i.e. -0.35362). On the basis of study results, therefore, it is suggested that there is a need of economic reforms and implementation of effective policies that can make economy of Pakistan strong and stable, which in turn enable the country’s economy to grow faster and to compete in international market.Keywords. Private investment, Gross Domestic Product, Political stability, Corruption, Economic growth, Time series data, Pakistan.JEL. F40, F43.
      PubDate: 2018-09-18
      DOI: 10.1453/jel.v5i3.1734
      Issue No: Vol. 5, No. 3 (2018)
       
  • The economics and philosophy of globalization

    • Authors: Naveed YAZDANI, Dawood MAMOON
      Pages: 221 - 228
      Abstract: . The economics and philosophy of Globalization are generally not discussed together. This paper assesses the claims of economic prosperity through economic integration in the backdrop of cultural, political and social value system implications of Globalization. This debate becomes important when we see a major part of developing world still struggling with impoverishment while cheerleaders of Globalization already claim a success story out of increased integration of developed and developing economies post 1980s.Keywords. Globalization, Macroeconomic policy, Economic integration, Postmodernism.JEL. F15, F36, F60.
      PubDate: 2018-09-18
      DOI: 10.1453/jel.v5i3.1724
      Issue No: Vol. 5, No. 3 (2018)
       
  • Modelling dynamics of inflation in Nigeria

    • Authors: Olatunji A SHOBANDE, Lanre R. IBRAHIM
      Pages: 229 - 240
      Abstract: . The study was motivated by the pervasively increasing inflation rate which has for the past 3 decades embattled and inhibited the potential growth of the Nigeria economy coupled with the fact that empirical studies on modeling the trend and behavior of inflation dynamics have remained largely neglected or scarcely researched. Hence, the pertinent concern of this paper is to model the dynamics of inflationary expectation in Nigeria by applying autoregressive distributed lag (ARDL) cointegration framework, Error Correction model, Ordinary Least Square methods and a host of diagnostic tests on time series (secondary) data, covering 1980 to 2015. While the empirical results expedite a cointegrated and stable long-run relationship between the variable of interests when price level is the dependent variable, money supply, interest rates, fiscal deficit to GDP and international oil price shock are found to be statistically significant in explaining the dynamics of inflation in Nigeria both in the long run and short run. Consequently, the study recommends the need for implementation of strategic diversification policy to reduce the vulnerability of the economy to oil price shock both locally and internationally and also, that the government and policymakers need to swing into urgent action in initiating fiscal policy that will further enhance stabilization of the country’s exchange rate and raise the value of the Naira.Keywords. Exchange rate, Industrialization, Export, Inflation.JEL. L00, L16, F31.
      PubDate: 2018-09-18
      DOI: 10.1453/jel.v5i3.1701
      Issue No: Vol. 5, No. 3 (2018)
       
  • Functionality development of product innovation: An empirical analysis of
           the technological trajectories of smartphone

    • Authors: Mario COCCIA
      Pages: 241 - 258
      Abstract: . The purpose of this study is to analyze the driving technical characteristics in product innovation to predict technological trajectories. The analysis is based on hedonic price method and other approaches using empirical data of smartphone technology (N=738 models over 2008-2018). Results show technological trajectories supporting the evolution of smartphone technology. In particular, critical characteristics of technological evolution in smartphone technology are: RAM in Gb, 1st and 2nd camera in Mpx, memory in Gb and resolution in total pixels. Implications of innovation product management are discussed.Keywords. Evolution of technology, Functionality development, Technological innovation, Product innovation management, Mobile phone, Smartphone, Technological change, Hedonic price regression, Economics of technical change.JEL. O30, O31, O32, O33, O38.
      PubDate: 2018-09-18
      DOI: 10.1453/jel.v5i3.1741
      Issue No: Vol. 5, No. 3 (2018)
       
  • The study on factors affecting the participation in the organization of
           the community tourism by farmer households in Tra Ving province, Vietnam

    • Authors: Ha Hong NGUYEN
      Pages: 259 - 264
      Abstract: . The study on the factors influencing farmer households’ participation in the organization of community-based tourism in Tra Vinh province was conducted by the gathering of primary data from 200 households in three islands of Tan Quy (Cau Ke district), Long Tri (Tra Vinh city), and Hoa Minh (Chau Thanh district) in Tra Vinh province. Through the use of the logistic regression model, the study found that there were six factors affecting the decision to participate in tourism, including the age of farmers, householders, and the educational level of householders, household size, family income, social relations and traditional trades. In particular, traditional trades, household income, and social relationships strongly influence farmers’ participation in organizing community-based tourism activities in Tra Vinh province.Keywords. Community tourism, Households, Island, Logistic regression, Income, Traditional trades.JEL. I13, I20, I30.
      PubDate: 2018-10-17
      DOI: 10.1453/jel.v5i3.1756
      Issue No: Vol. 5, No. 3 (2018)
       
  • China’s monetary policy since 1948

    • Authors: Joanne GUO
      Pages: 265 - 274
      Abstract: . China’s monetary policy has evolved from obscurity into spotlight due to its torrid economic expansion in recent times, as well as its exchange rate regime that has been under constant scrutiny of its trading partners. While China’s economy is centrally-planned, it is veering more towards a market-based system with goals of stability and growth. With this in mind, this paper is an introspection of China’s monetary policy since the establishment of the People’s Bank of China (PBC) to the present. Additionally, this paper surveys empirical literature on the effectiveness of policy tools undertaken by the PBC. Recommendations are made to Chinese monetary authority on how to navigate the turbulent waves of economic fluctuations with a managed exchange rate, within its borders and beyond.Keywords. Community tourism, Households, Island, Logistic regression, Income, Traditional trades.JEL. I13, I20, I30.
      PubDate: 2018-10-26
      DOI: 10.1453/jel.v5i3.1760
      Issue No: Vol. 5, No. 3 (2018)
       
  • Trends in the accumulation of net foreign reserves since World War II

    • Authors: Austin KWON
      Pages: 275 - 300
      Abstract: . Taking a historical perspective, this paper observes the trend in net foreign reserves by examining data that extend as far back as 1948. It looks broadly at how reserve coverage has changed over time and the benefits and costs of holding such reserves. Moreover, it studies which countries are the biggest holders of reserves and how much they have as well as the reasons why they hold these amounts. An accompanying spreadsheet workbook contains the data for the graphs and analysis of this paper. Data come mainly from the International Monetary Fund’s International Financial Statistics database, supplemented in some cases by national sources.Keywords. Foreign reserves, Gold, Monetary base, Imports, Reserve adequacy.JEL. E58, F31.
      PubDate: 2018-10-26
      DOI: 10.1453/jel.v5i3.1762
      Issue No: Vol. 5, No. 3 (2018)
       
 
 
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