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Journal Cover Journal of Economics and Political Economy
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  This is an Open Access Journal Open Access journal
   ISSN (Online) 2148-8347
   Published by KSP Journals Homepage  [6 journals]
  • Trade, Growth and Economic Inequality in the Asia-Pacific Region: Lessons
           for Policymakers

    • Authors: Baybars KARACAOVALI, Theresa M. GREANEY
      Pages: 135 - 143
      Abstract: Abstract. This policy brief is intended to provide policymakers with a summary of the results of our research project entitled “Trade, Growth and Economic Inequality in the Asia-Pacific Region”, which explores and documents the linkages between international trade and inequality in the Asia-Pacific Region (APR).The project’s eleven research papers appeared in a special issue of the Journal of Asian Economics in February 2017. Overall, we conclude that the relationships between international trade, foreign direct investment (FDI), economic growth and inequality are extremely complicated, so no single theory should be relied upon for policy guidance across all APR countries with their varying stages of development and unique characteristics. Our studies find some evidence that trade or FDI contribute to inequality, some evidence that it reduces inequality and some evidence of no causal relationship. These seemingly conflicting results are not at all surprising given the complex relationships involved and the different countries, time periods, and means of measuring inequality, trade and FDI our authors adopted. Our main takeaway for policymakers is to be wary of both anti-trade and pro-trade advocates who provide “one size fits all” advice related to trade, FDI and inequality; these economic relationships are much too complex for that.Keywords. International trade, Foreign direct investment, Economic growth, Economic inequality.JEL. F13, F14, F16, F21, F23, J31.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1266
      Issue No: Vol. 4, No. 2 (2017)
  • Economic and Political Cooperation between India and East Asia: The
           Emerging Perspective

    • Authors: Debashis CHAKRABORTY, Anushree CHAKRABORTY
      Pages: 144 - 158
      Abstract: Abstract. After initiating the economic liberalization policies in 1991, India adopted a ‘Look East Policy’ (LEP) with the dual objective of securing economic growth and maintaining maritime security. Cooperation with East Asia received further boost, when the ‘Act East Policy’ (AEP) came into effect during the maiden visit of Prime Minister Mr. Narendra Modi at the ASEAN-India Summit in 2014, which emphasizes on practicing more action-oriented policy towards ASEAN and the wider East Asia. As a result of the policy shift and through the other initiatives like Make-in-India, India’s trade and investment linkages with East Asia is on the rise. In 2015, the Prime Minister visited five East Asian countries at various occasions. There have been other high level diplomatic visits to the East, followed by the appropriate diplomatic channels. Therefore, AEP has brought a great sense of speed and priority in engaging with the East and Southeast Asian countries. On maritime front, China’s nine-dash line doctrine generated strategic concerns both in East and Southeast Asia and India has emerged as a strategic player in the region through joint naval exercises and capacity buildings with partner countries. Given the recent reservations expressed by Beijing against the ruling by the international tribunal in The Hague, India’s maritime security initiatives in East Asia is likely stay relevant in coming days. The current paper examines the future for India-East Asia relations in days to come, especially in the current geo-political set-up.Keywords. Trade Policy, Intra-Industry Trade, Maritime Security, India.JEL. F14, F15.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1273
      Issue No: Vol. 4, No. 2 (2017)
  • A Small Scale Macroeconomic Model for Morocco

    • Authors: Youssef OUKHALLOU, Abla MRABTI
      Pages: 159 - 177
      Abstract: Abstract. In this research paper, we build a New Keynesian reduced-form macroeconomic model for Morocco. The model encompasses three main blocks: an aggregate demand equation (IS curve), a price-setting equation (Phillips curve) and a Taylor-type monetary policy rule. In our model, we consider a significant forward-looking component when explaining inflation dynamics, which enables us to include agent’s expectations. The downstream aim of this work is to provide the research community with new possibilities in terms of economic workhorse modelling, particularly for monetary policy analysis purposes.Keywords. Small scale model, Forward-looking expectations, Monetary policy, Fixed exchange regime.JEL. C32, E12, E17, E43, E47.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1317
      Issue No: Vol. 4, No. 2 (2017)
  • Patterns and Micro-Drivers of International Emigration in Nigeria

    • Authors: Musa ABDU, Adamu JIBIR, Salihu ABDULLAHI
      Pages: 178 - 191
      Abstract: Abstract. The study attempts to unfold the determinants of international migration from Nigeria to other countries by using 2009 Nigeria Migration Survey data by World Bank (2011). It also employs econometric techniques of linear probability and binary probit models. The findings indicates that individual and household characteristics as well as economic and geographical factors play significant roles in making Nigerians to migrate abroad. The individual characteristics are gender (if male), age, marital status and education years, while household size is the only significant factor under household characteristics. The amount of remittance is the only significant economic determinant. The statistically significant geographical factors include locality (if urban) and geopolitical zones (if south-east, south-south, south-west and Lagos). Second, the same factors are the determinants of international migration to OECD and African countries, albeit they are stronger in influencing migration to African countries than to OECD countries. However, amount of remittance has positive effect on international migration to OECD countries but it is negative on international migration to African countries. Thus, the policy implication is that any international migration policy should target the above determinants of international migration in order to contain it.Keywords. International migration, Remittances, Probit model, Policy implications.JEL. F22, F24, C31, F42.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1293
      Issue No: Vol. 4, No. 2 (2017)
  • Will Secular Stagnation be the Result of Great Recession

    • Authors: Özgür ÜŞENMEZ, Levent DUMAN
      Pages: 192 - 202
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1300
      Issue No: Vol. 4, No. 2 (2017)
  • The Effect of Public Sector Development Expenditures and Investment on
           Economic Growth: Evidence from Pakistan

    • Authors: Syed Shujaat AHMED, Asif JAVED
      Pages: 203 - 214
      Abstract: Abstract. It is an established fact that there is strong association between investment and economic growth of a country but no such direct consensus had been developed on the type of investment. i.e. what are the different sectors in which investment has led to long term impact and did contributed to the growth. The current study in this regard will focus on investigating the relationship of Public Sector Development Programme (PSDP), Foreign Direct Investment (FDI) and Private Investment with the growth. The study will use data from 1980-81 to 2015-16 in this regard and employ Johansen cointegration to investigate the long run relationship. It is found that with foreign direct investment, health expenditure and transport and communication expenditure has negative relationship in the long run. Where as private investment, education expenditure and expenditure on housing has positive relationship with growth. Based on these findings recommendations were totally investment centric with primary focus on reduction in taxes and other barriers to bring in more investment in long run. Beside taxation, recommendations were made on administrative balance both in tax system and public sectors which were made part of provincial domain after 18th amendment.Keywords. Public sector development programme, Foreign direct investment, Private investment.JEL. D92, O40, H51, H52.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1347
      Issue No: Vol. 4, No. 2 (2017)
  • Capability Approach: A Formal Introduction

    • Authors: Dorian Fernando LEON
      Pages: 215 - 518
      Abstract: Abstract. The capability approach has been made operable and an example is the Human Development Index and the Multidimensional Poverty Index (Dotter & Klasen, 2014). However, its operable nature in the field of evaluation of specific dimension such as education, gender and poverty from a diffuse perspective is even broader (Addabbo, Di Tommaso & Facchinetti, 2004; Martinetti, 2006; Addabbo & Facchinetti, 2013). In this sense, this article aims to provide a very brief formal aproximation to the capability approach, mainly focusing on some their fundamental concepts.Keywords. Capability approach, Functioning, Amartya Sen.JEL. I31, I32, D63.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1348
      Issue No: Vol. 4, No. 2 (2017)
  • Nicholas Eberstadt, Men without Work: America’s Invisible Crisis

    • Authors: Scott Alan CARSON
      Pages: 219 - 221
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1287
      Issue No: Vol. 4, No. 2 (2017)
  • 8th International Conference of Political Economy

    • Authors: Gülçin BEKEN
      Pages: 222 - 223
      Abstract: Abstract. The 8th International Conference of Political Economy (ICOPEC) was held in Belgrade on June 28-30, 2017. The main theme of the conference was "Institutions, National Identity, Power and Governance in the 21st Century". Since its first year, these conference series have been successful to bring together all academicians, students that are all interested in the topics of political economy.Keywords. Political Economy, State, Taxation, Institutions, Poverty.JEL. F50, P16, H20, H70.
      PubDate: 2017-06-18
      DOI: 10.1453/jepe.v4i2.1332
      Issue No: Vol. 4, No. 2 (2017)
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
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