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Journal of Economics and Political Economy
Number of Followers: 7  

  This is an Open Access Journal Open Access journal
ISSN (Online) 2148-8347
Published by KSP Journals Homepage  [6 journals]
  • Theodore Ahlers & Harinder S. Kohli (eds.), Africa Reset: A New Way
           Forward

    • Authors: Debashis CHAKRABORTY
      Pages: 491 - 494
      Abstract: . The African continent for long has been an enigma for development economists, with several countries witnessing coexistence of rich natural resource base, pockets of underdevelopment and political instability. With the Sustainable Development Goals (SDGs) as a target, it is now imperative that the African countries, particularly the nations facing development challenges,need to contemplate and adopt a long-term action plan. However, the existing literature suggests that addressing the concerns of African countries requires both structural and regulatory reforms. Given the proliferation of regional trade agreements (RTAs) in the world today, along with deepening of de-globalizing forces, the practical concern for the African countries is to increasingly participate in Global Value Chains (GVCs) and International Production Networks (IPNs), enhance value-addition within the domestic economy, promote equality in opportunitiesand create employment for the growing young population therein. In a sense Africa is at a juncture, where Asia stood several decades back. The volume edited by Ahlers and Kohli, an attempt to analyze the reform and consequently the growth path in Africa, is therefore a timely contribution to the existing literature..Keywords. Political economy, Economic thought, Politics, Economic system.JEL. B10, L66, Q18.
      PubDate: 2019-01-08
      DOI: 10.1453/jepe.v5i4.1779
      Issue No: Vol. 5, No. 4 (2019)
       
  • Exchange rate fluctuations and the trade balance between China and
           Australia: An empirical study

    • Authors: Sihong WU
      Pages: 424 - 438
      Abstract: . This paper uses Johansen cointegration test and a vector error correction model (VEC) to analyze the relationship between the trade balance and real bilateral exchange rate among Australia and China during 1990 to 2016. This paper suggest that the fluctuations of the real exchange rate will have impacts for China and Australia in the short run, but will have little or no impacts in the long run. This is inconsistent with the findings of previous studies suggesting that there has a J-Curve effect in the long run. As to what factors in the long run have cushioned the impacts of exchange rate fluctuations on the trade relations between Australia and China, we still need to continue exploring in the future.Keywords. Bilateral real exchange rate, Trade balance, Imports, Exports, China, Australia, VEC, J-Curve, Free trade agreement, Price level, Fluctuations.JEL. F10, F14, F15.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1805
      Issue No: Vol. 5, No. 4 (2018)
       
  • Does economic growth support the minimum wage' Evidences based in
           Turkey

    • Authors: Bilal KARGI
      Pages: 439 - 449
      Abstract: . The effects of the growth performances over minimum wages are examined in this study. Minimum wage is a level of income which is determined by the government in order people to be able to maintain humanitarian consumption rate under the economic conditions in which they survive. Such an partial interference to competitive economics can affect many macroeconomic variables. In this study, the relationship between minimum wage and the growth performance is investigated within fast growing Turkish economy. The effects of minimum wage over employment and how the employment rate changes by the effects of minimum wage increases reflect to the growth processes is depicted. After the applied tests, the results are acquired as there is co-integration relationship in the long run between minimum wage and the growth and Granger causality occurred in double direction.Keywords. Economic growth, Minimum wage, Employment, Unemployment.JEL. F43, E24, J31.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1816
      Issue No: Vol. 5, No. 4 (2018)
       
  • An empirical test for the effectiveness of central bank interventions in
           foreign exchange markets: An application to the Canadian and Swiss Central
           Banks

    • Authors: Kwami Edem ABBUY
      Pages: 450 - 458
      Abstract: . This paper investigates the effectiveness of foreign exchange intervention of central banks of Canada and Switzerland. We examine the effectiveness of Canada and Switzerland interventions policies on Canadian dollar against US dollar and Swiss franc against US dollar exchange rates volatility over the 1980-2014 period. A behavioral exchange rate equation is estimated with instrumental variables methodology. The main results indicate that interventions generally reduce exchange rates volatility. However, the Swiss National Bank seems to be more efficient by stabilizing the Swiss franc than the Bank of Canada, whose interventions, despite its effectiveness, remains weak.Keywords. Volatility, Exchange rate, Official international reserves.JEL. E51, E52, E58.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1761
      Issue No: Vol. 5, No. 4 (2018)
       
  • World-System Theory: A sociopolitical approach to explain World economic
           development in a capitalistic economy

    • Authors: Mario COCCIA
      Pages: 459 - 465
      Abstract: . This conceptual paper describes world-systems theory that is a socioeconomic and political approach that explains the economic development and dynamics of capitalistic world economy. In particular, this study clarifies international market trade, economic division of labor and other relationships between core and periphery areas. Some limitations of this approach conclude this study.Keywords. World-Systems Analysis, World Economy, World Market, Capitalistic World Economy, Core-Periphery areas.JEL. F63, O10, O20.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1787
      Issue No: Vol. 5, No. 4 (2018)
       
  • Analysis of factors make Turkish economy fragile by LOGIT and PROBIT
           models (1990.01-2018:05)

    • Authors: Recep TARI, Figen BÜYÜKAKIN, Seda AYDIN
      Pages: 466 - 479
      Abstract: . The globalization movements that started towards the end of the 20th century influenced many areas of the economy. As a result of the globalization, despite the persistence of the political borders, countries have established borderless relationships in the economic arena. On the other hand, along with globalization, financial crises have become more frequent in the world economy. In particular, the fact that the 2008 Global Crisis reached serious dimensions made it necessary to take measures to stabilize the markets and to evaluate the factors that would shake the market and make the market fragile. Financial fragility is a concept that is often concurrently used with the concepts of financial instability and financial crisis. Financial fragility is a hypothesis which was developed by Hyman Minsky and is different from both concepts and also is interactively affected by instability and crises. In this study, unlike other studies with reference to Minsky's financial fragility hypothesis, we aimed to identify the factors that make fragile the financial markets in Turkey. Logit and probit models were studied with the data of 1990:01-2018:05 period. With reference to the study results, the increase in ratios of the volume of bank loans and M2 occur reserves increases the possibility of future crises. Besides, it is found at the end of the study that a decrease in the composite leading indicators index and in M2 in the BIST 100 index will strengthen the probability of a crisis.Keywords. Financial fragility, Minsky hypothesis, Logit model, Probit model.JEL. G00, C12, B23.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1799
      Issue No: Vol. 5, No. 4 (2018)
       
  • Analysis of political economy, international political economy,
           globalization and its importance to public finance

    • Authors: Muhammad Mustafa RASHID
      Pages: 480 - 487
      Abstract: . The purpose of this paper is to provide an analysis of the discipline of political economy, international political economy and their respective historical developments. The paper will then focus on globalization and evaluate the strength and weaknesses of the policy to globalize. Further analysis will be conducted to show the importance of the topic of globalization as it relates to public finance. Rosen & Gayer (2014), Sackery, Schneider & Knoedler (2016), Marlin-Bennett (2017), Ravenhill (2008) and Weingast & Witman (2006) will provide insights into the development of the discipline and its modus operendi. The historical development of the discipline will be provided for by Ingram (1915) and the aforementioned authors will also provide insights into the weakness and strengths of the policy to globalize. Garett & Mitchell (2001) and Kumar (2006) will provide additional insights into the importance of globalization as it pertains to public finance.Keywords. Political economy, International political economy, Globalization, Public finance.JEL. F50.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1814
      Issue No: Vol. 5, No. 4 (2018)
       
  • Between gravity waves and business cycles: How to avoid global recessions

    • Authors: Dawood MAMOON
      Pages: 488 - 490
      Abstract: . The paper suggests that economic booms in business cycles can be constructed by taking into account a multidimensional 360 degree approach to economic development by utilizing complexity theorem explained by the theory of gravity waves phenomenon.Keywords. Business cycles, Complexity theorem.JEL. F44.
      PubDate: 2018-12-30
      DOI: 10.1453/jepe.v5i4.1603
      Issue No: Vol. 5, No. 4 (2018)
       
 
 
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