Subjects -> BUSINESS AND ECONOMICS (Total: 3570 journals)
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    - ECONOMIC SYSTEMS, THEORIES AND HISTORY (235 journals)
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    - PUBLIC FINANCE, TAXATION (37 journals)
    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

ECONOMIC SYSTEMS, THEORIES AND HISTORY (235 journals)                  1 2 | Last

Showing 1 - 200 of 224 Journals sorted alphabetically
Ab Imperio     Full-text available via subscription   (Followers: 4)
Acta Economica     Open Access  
Acta Universitatis Sapientiae, European and Regional Studies     Open Access  
African East-Asian Affairs     Open Access   (Followers: 10)
African Economic History     Full-text available via subscription   (Followers: 20)
African Journal of Economic Policy     Full-text available via subscription   (Followers: 2)
African Journal of Sustainable Development     Full-text available via subscription   (Followers: 8)
African Research Review     Open Access   (Followers: 5)
AL-FALAH : Journal of Islamic Economics     Open Access  
Al-Iqtishad : Journal of Islamic Economics     Open Access   (Followers: 2)
Al-Tijary : Jurnal Ekonomi dan Bisnis Islam     Open Access   (Followers: 1)
América Latina en la historia económica     Open Access   (Followers: 3)
American Economic Journal : Economic Policy     Full-text available via subscription   (Followers: 164)
American Economist     Hybrid Journal   (Followers: 6)
An-Nisbah : Jurnal Ekonomi Syariah     Open Access   (Followers: 1)
Anuario de Estudios Centroamericanos     Open Access   (Followers: 2)
Aquaculture Economics & Management     Hybrid Journal   (Followers: 21)
ASAS : Jurnal Hukum dan Ekonomi Islam     Open Access   (Followers: 1)
Asian Bulletin of Energy Economics and Technology     Open Access   (Followers: 1)
Asian Journal for Poverty Studies     Open Access   (Followers: 4)
Asian Journal of Quality of Life     Open Access   (Followers: 1)
AUDITING: A Journal of Practice & Theory     Full-text available via subscription   (Followers: 13)
Australian Economic History Review     Hybrid Journal   (Followers: 8)
BioPhysical Economics and Resource Quality     Hybrid Journal  
Boletim de Conjuntura Econômica     Open Access  
Buletin Ekonomi     Open Access   (Followers: 1)
Bulletin of Economic Theory and Analysis     Open Access   (Followers: 2)
Business History     Hybrid Journal   (Followers: 22)
Business History Review     Hybrid Journal   (Followers: 16)
Cadernos do Desenvolvimento Fluminense     Open Access  
Cahiers du GRM     Open Access  
Ciencias Económicas     Open Access  
Comparative Economic Studies     Hybrid Journal   (Followers: 6)
Competition and Regulation in Network Industries     Full-text available via subscription   (Followers: 7)
Con-texto     Open Access  
Conjuntura Austral : Journal of the Global South     Open Access   (Followers: 2)
Construction Economics and Building     Open Access   (Followers: 4)
Contemporary Economic Policy     Hybrid Journal   (Followers: 9)
Contemporary Economy     Open Access  
Contemporary Review of the Middle East     Full-text available via subscription   (Followers: 10)
Cooperativismo & Desarrollo     Open Access  
Corporate Governance and Sustainability Review     Open Access   (Followers: 2)
Croatian Review of Economic, Business and Social Statistics     Open Access  
Cuadernos de Economía     Open Access  
Cuadernos de historia. Serie Economía y Sociedad     Open Access  
Cuadernos del CENDES     Open Access  
Cultura Económica     Open Access  
Development Management     Open Access   (Followers: 1)
E-Jurnal Ekonomi Pembangunan Universitas Udayana     Open Access  
Eastern European Countryside     Open Access   (Followers: 2)
Econometric Research in Finance     Open Access  
Econometric Theory     Hybrid Journal   (Followers: 20)
Econometrics     Open Access   (Followers: 9)
Econometrics and Statistics     Hybrid Journal   (Followers: 1)
Economía : Teoria y práctica     Open Access  
Economía Mexicana. Nueva Época     Open Access   (Followers: 1)
Economia Politica     Hybrid Journal   (Followers: 42)
Economía UNAM     Open Access  
Economia y Sociedad     Open Access   (Followers: 1)
Economía y Sociedad     Open Access  
Economia, Sociedad y Territorio     Open Access  
Economic Analysis     Open Access   (Followers: 4)
Economic Anthropology     Full-text available via subscription   (Followers: 18)
Economic Education Analysis Journal     Open Access  
Economic History of Developing Regions     Hybrid Journal   (Followers: 6)
Economic Journal of Emerging Markets     Open Access   (Followers: 1)
Economic Research-Ekonomska Istraživanja     Open Access  
Economic Theory     Hybrid Journal   (Followers: 18)
Economic Theory Bulletin     Hybrid Journal   (Followers: 1)
Economica : Jurnal Ekonomi Islam     Open Access   (Followers: 1)
Economics and Law     Open Access   (Followers: 3)
Economics Bosowa     Open Access  
Economics Development Analysis Journal     Open Access   (Followers: 5)
Economics of Development     Open Access   (Followers: 2)
EMAJ : Emerging Markets Journal     Open Access  
Emerging Economies Cases Journal     Hybrid Journal  
Emerging Economy Studies     Full-text available via subscription   (Followers: 1)
Empirical Economic Review     Open Access   (Followers: 1)
Ensayos de Economía     Open Access  
Ensayos Revista de Economía     Open Access  
Entrepreneurship Theory and Practice     Hybrid Journal   (Followers: 48)
Environmental Economics     Open Access   (Followers: 2)
Erhvervshistorisk Årbog     Open Access   (Followers: 1)
Espaço & Economia : Revista Brasileira de Geografia Econômica     Open Access  
Essays in Economic & Business History     Open Access   (Followers: 3)
Estonian Discussions on Economic Policy     Open Access  
Estudios de Economía     Open Access  
Ethiopian Journal of Economics     Full-text available via subscription   (Followers: 4)
European Countryside     Open Access   (Followers: 1)
European Journal of Economics and Economic Policies : Intervention     Full-text available via subscription   (Followers: 13)
European Journal of the History of Economic Thought     Hybrid Journal   (Followers: 13)
European Review of Economic History     Hybrid Journal   (Followers: 35)
Evolutionary and Institutional Economics Review     Hybrid Journal   (Followers: 1)
Explorations in Economic History     Hybrid Journal   (Followers: 34)
Expresión Económica : Revista de Análisis     Open Access  
FALAH : Jurnal Ekonomi Syariah     Open Access  
Foundation Review     Full-text available via subscription   (Followers: 2)
Germinal : Marxismo e Educação em Debate     Open Access  
Ghana Journal of Development Studies     Full-text available via subscription   (Followers: 8)
Gizarte Ekonomiaren Euskal Aldizkaria : Revista Vasca de Economía Social     Open Access  
Hakam : Jurnal Kajian Hukum Islam dan Hukum Ekonomi Islam     Open Access  
History of Economic Thought and Policy     Full-text available via subscription   (Followers: 10)
History of Economics Review     Hybrid Journal   (Followers: 11)
I-ECONOMICS : A Research Journal on Islamic Economics     Open Access  
Iberian Journal of the History of Economic Thought     Open Access  
Ikonomika : Jurnal Ekonomi dan Bisnis Islam     Open Access  
Indian Economic & Social History Review     Hybrid Journal   (Followers: 10)
Indian Economic Journal     Full-text available via subscription  
Indian Economic Review     Hybrid Journal  
Informe Econômico     Open Access   (Followers: 3)
International Journal of Business Intelligence Research     Full-text available via subscription   (Followers: 3)
International Journal of Economic Policy Studies     Hybrid Journal   (Followers: 1)
International Journal of Economic Theory     Hybrid Journal   (Followers: 4)
International Journal of Economics and Financial Issues     Open Access   (Followers: 10)
International Journal of Energy Economics and Policy     Open Access   (Followers: 11)
International Journal of Game Theory     Hybrid Journal   (Followers: 3)
International Journal of Sustainable Economies Management     Full-text available via subscription  
Investigación Económica     Open Access   (Followers: 4)
Investigaciones de Historia Económica     Open Access  
IQTISHADIA : Jurnal Ekonomi & Perbankan Syariah     Open Access  
Iqtishoduna : Jurnal Ekonomi Islam     Open Access  
Irish Economic and Social History     Hybrid Journal   (Followers: 12)
Islamic Economics Journal     Open Access  
Journal of Advanced Research in Economics and International Business     Full-text available via subscription  
Journal of Asian Development     Open Access   (Followers: 2)
Journal of Behavioral and Experimental Economics     Full-text available via subscription   (Followers: 11)
Journal of Chinese Economic and Foreign Trade Studies     Hybrid Journal   (Followers: 2)
Journal of Demographic Economics     Hybrid Journal   (Followers: 4)
Journal of Economic and Social Thought     Open Access   (Followers: 3)
Journal of Economic History     Full-text available via subscription   (Followers: 52)
Journal of Economic Issues     Hybrid Journal   (Followers: 14)
Journal of Economic Literature     Full-text available via subscription   (Followers: 188)
Journal of Economic Perspectives     Full-text available via subscription   (Followers: 217)
Journal of Economic Theory     Hybrid Journal   (Followers: 50)
Journal of Economics and International Relations     Open Access   (Followers: 4)
Journal of Ekonomi     Open Access  
Journal of Entrepreneurship in Emerging Economies     Hybrid Journal   (Followers: 4)
Journal of Governance and Regulation     Open Access  
Journal of Illicit Economies and Development     Open Access  
Journal of Innovation and Entrepreneurship     Open Access   (Followers: 7)
Journal of Islamic Economic Laws     Open Access  
Journal of Marketing Theory and Practice     Full-text available via subscription   (Followers: 3)
Journal of Post Keynesian Economics     Full-text available via subscription   (Followers: 13)
Journal of Public Economic Theory     Hybrid Journal   (Followers: 7)
Journal of Public Economics     Hybrid Journal   (Followers: 76)
Journal of Public Economics Plus     Open Access  
Journal of Quantitative Economics     Hybrid Journal  
Journal of Regional Economics Indonesia     Open Access  
Journal of Revenue and Pricing Management     Hybrid Journal   (Followers: 4)
Journal of Spatial Econometrics     Hybrid Journal  
Journal of Statistical and Econometric Methods     Open Access   (Followers: 3)
Journal of the Economic and Social History of the Orient     Hybrid Journal   (Followers: 21)
Journal of the History of Economic Thought     Full-text available via subscription   (Followers: 14)
Journal of Wine Economics     Full-text available via subscription   (Followers: 2)
Jurnal Economica : Research of Economic And Economic Education     Open Access   (Followers: 1)
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business)     Open Access  
Jurnal Ekonomi dan Pembangunan Indonesia     Open Access  
Jurnal Ekonomi Pembangunan : Kajian Masalah Ekonomi dan Pembangunan     Open Access  
Jurnal Ekonomi Syariah Teori dan Terapan     Open Access  
Jurnal Hukum dan Pembangunan Ekonomi     Open Access  
Jurnal Ilmu Ekonomi Terapan     Open Access  
Latin American Economic Review     Open Access   (Followers: 5)
Latin American Journal of Management for Sustainable Development     Hybrid Journal  
Madagascar Conservation & Development     Open Access   (Followers: 2)
Management of Sustainable Development     Open Access   (Followers: 4)
Marketing Theory     Hybrid Journal   (Followers: 15)
Mediations : Journal of the Marxist Literary Group     Open Access  
MediaTrend     Open Access  
Mises : Interdisciplinary Journal of Philosophy, Law and Economics     Open Access  
Modern Economy     Open Access   (Followers: 3)
Moneta e Credito     Open Access   (Followers: 1)
New Agenda : South African Journal of Social and Economic Policy     Full-text available via subscription  
OECD Journal : Economic Studies     Full-text available via subscription   (Followers: 17)
Organizations and Markets in Emerging Economies     Open Access   (Followers: 1)
Papeles de Europa     Open Access  
Pecvnia : Revista de la Facultad de Ciencias Económicas y Empresariales, Universidad de León     Open Access  
Perfil de Coyuntura Económica     Open Access  
Pittsburgh Papers on the European Union     Open Access   (Followers: 2)
Población y Desarrollo - Argonautas y caminantes     Open Access  
Population and Economics     Open Access   (Followers: 2)
Pro-fit     Open Access  
Proceedings of Voronezh State University. Series: Economics and Management     Open Access  
QA : Rivista dell’Associazione Rossi-Doria     Full-text available via subscription  
Quarterly Journal of Islamic Finance and Banking Studies     Open Access   (Followers: 2)
Regional Formation and Development Studies     Open Access  
Review of Behavioral Economics     Full-text available via subscription   (Followers: 6)
Review of Development and Change     Full-text available via subscription  
Review of Economic Studies     Hybrid Journal   (Followers: 187)
Review of Evolutionary Political Economy     Hybrid Journal  
Review of Keynesian Economics     Partially Free   (Followers: 9)
Revista Conjuntura Econômica     Open Access   (Followers: 2)
Revista de Economía del Caribe     Open Access  
Revista de Economía del Rosario     Open Access  
Revista de Historia Económica     Full-text available via subscription   (Followers: 1)
Revista de Historia Industrial. Economía y Empresa     Open Access  
Revista de Política Económica para el Desarrollo Sostenible     Open Access  
Revista Economía y Política     Open Access  
Revista Galega de Economia     Open Access  
Revista Gestão e Desenvolvimento     Open Access  
Revista Latinoamericana de Desarrollo Económico     Open Access  

        1 2 | Last

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Comparative Economic Studies
Journal Prestige (SJR): 0.37
Citation Impact (citeScore): 1
Number of Followers: 6  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 0888-7233 - ISSN (Online) 1478-3320
Published by Springer-Verlag Homepage  [2469 journals]
  • Correction to: From the British to the Chinese Periphery: Capital
           Accumulation Through Primary-Commodity Production in Australia and
           Argentina

    • Free pre-print version: Loading...

      PubDate: 2022-04-04
       
  • To Grow or Not to Grow: Belarus and Lithuania

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      Abstract: Abstract We compare the economic growth performance of Belarus and Lithuania since the collapse of the Soviet Union in 1991. Our interest in this country pair is driven by the two countries’ interwoven history as well as by the fact that Belarus remains autocratic and strongly tied to Russia, while Lithuania has reinvented herself as a democratic market economy fully integrated into the EU. Our aim is to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency, i.e., total factor productivity, in the use of capital and other resources via, inter alia, better institutions (intensive growth) as opposed to sheer accumulation of capital (extensive growth), the hallmark of Soviet economic growth. To this end, we compare the development of some key determinants of growth in the two countries since the 1990s. Employing a simple growth accounting model we find that institutional reforms, open and transparent governance, and good education play a more important role for output and efficiency than crude capital accumulation. Hence Lithuania does better than Belarus, which remains marred by problems related to weak governance as well as autocratic rule. As in Estonia and Latvia we find that the EU perspective made a significant contribution to growth in Lithuania. The Russian connection has done less for Belarus. At last, we also touch upon the impact of the corona virus on the economies of the two countries.
      PubDate: 2022-03-31
       
  • Drivers of the Tax Effort: Evidence from a Large Panel

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      Abstract: Abstract This paper assesses the drivers of tax effort in a sample of 122 countries from 1980 to 2017, using both the Bird and Frank indices to measure tax effort. Our focus is on five blocks of determinants—namely, economic, fiscal, openness, structural, and political. We find that tax effort is influenced by all blocks, although results differ per income group. Tax effort in advanced economies is driven by all blocks of drivers except political variables, while openness, structural, and political blocks prevail in developing economies. There is no consistency regarding the determinants across the four regions (Latin America, Africa, Europe, and Asia). We also find that, during the first two decades under analysis, tax effort is mainly associated with both higher levels of countries’ tax revenues and the role of the agricultural sector in the economy. However, from 1999 onwards, the determinants are mainly driven by left-wing governments and the economic and fiscal blocks of variables. Our results are robust for a battery of sensitivity and robustness tests. Taken together, our findings point to the existence of heterogeneous impacts, which implies that policies resulting in improvements in the level of tax effort can affect countries in diverse ways.
      PubDate: 2022-03-28
       
  • From the British to the Chinese Periphery: Capital Accumulation Through
           Primary-Commodity Production in Australia and Argentina

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      Abstract: Abstract This paper compares the economic development of Australia and Argentina. Drawing on key insights of Marx’s critique of political economy, it argues that both national portions of global capital accumulation have been structured under the same specific form; namely: to produce primary commodities under favourable natural conditions. Consequently, they have both been sources of large amounts of ground-rent which rent-paying international capital could appropriate/recover through nation-state mediation. Differences in the economic development of Australia and Argentina are explained in terms of the concrete historical and natural conditions under which this national modality of capital accumulation came about in the two national economies. This analysis serves to highlight the specificities of national processes of economic development structured to produce raw materials for world markets as well as the conditions leading to differentiation.
      PubDate: 2022-03-07
       
  • Discretionary Grants and Distributive Politics: Evidence from Spain

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      Abstract: Abstract We study empirically whether the allocation of discretionary grants across Spanish regions is related to the number of swing voters and loyal voters of the ruling party. We estimate the number of swing and loyal voters from survey data. When estimating the number of swing voters, we account in a novel way for the two-dimensional ideological space and multiparty competition. We find that regions with more loyal voters of the ruling party received more grants per capita. Partisan alignment of regional governments also matters over a part of the studied period since the regions where the socialist party of the central government was a member of the regional government received more grants.
      PubDate: 2022-03-03
      DOI: 10.1057/s41294-022-00186-3
       
  • Current Account Balance and Financial Development in MENA Countries: The
           Role of Institutions

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      Abstract: Abstract This paper examines the relationship between current account and financial development, while taking into account institutional quality in the Middle East and North Africa (MENA) region over the period 1990–2018. By applying various measures of the quality of institutions and two indices representing financial development, we found that, while most financial development indices have a significant positive effect on the current account, the coefficients of the interaction term are significantly negative. This clearly shows that institutional quality mitigates the positive effect of financial development on the current account. Our empirical results allow us to conclude that the level of financial development in a country with a high level of corruption increases the current account deficit. These results suggest that, in order to benefit from financial development, financial systems in MENA countries must be embedded within a sound institutional framework.
      PubDate: 2022-03-01
      DOI: 10.1057/s41294-021-00153-4
       
  • Local Skill Development from China’s Engagement in Africa: Comparative
           Evidence from the Construction Sector in Ghana

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      Abstract: Abstract Over the past decade, Chinese enterprises have made significant progress in developing new business ventures in Africa. There is ongoing debate whether these Chinese enterprises contribute to local skill development in their host countries. We utilize unique survey data from the construction sector in Ghana to examine the heterogeneity in skill transfer to local workers in Chinese-owned, other foreign, and domestic enterprises. First, our analyses illustrate that there are no significant differences in the characteristics of local employees from Chinese enterprises and those from other enterprises in terms of age, marital status, education background, work experience, and union membership. In terms of employment attributes, while workers in other enterprises on average stay longer with their employers than those working for Chinese enterprises, statistically, we do not observe any significant difference in the share of workers that receive training between Chinese and other construction enterprises. Furthermore, regression estimates suggest that compared to local enterprises, both Chinese and other foreign enterprises contribute positively to short-term general training and long-term specific training of locally hired workers. Indeed, the likelihood of receiving training, especially short-term general training, is higher for Chinese enterprise employees than those of other foreign enterprises.
      PubDate: 2022-03-01
      DOI: 10.1057/s41294-021-00154-3
       
  • Overall US and Census Region β-Convergence 1963–2015
           Controlling for Spatial Effects

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      Abstract: Abstract Economic growth and β-convergence of American states 1963–2015 is analyzed adjusting for significant spatial autocorrelation with system-GMM by considering the four Census macro regions individually. The Census regions converged over the last 50 years with both physical and human capital contributing to growth. In an early era (1963–1983), convergence was higher with rates varying between 4.7 and 1.5%, while for a later era (1984–2015) the rate was below 1% which is below the standard of 2% but fits well with a neoclassical growth paradigm. The Midwest region had the highest rate of convergence in the early era but then had almost no convergence in the later era with the other three regions having very low but positive convergence. Unlike many earlier studies, human as well as physical capital accumulation empirically supports economic growth as theory predicts.
      PubDate: 2022-03-01
      DOI: 10.1057/s41294-021-00159-y
       
  • Productivity Dispersion, Misallocation, and Reallocation Frictions: Theory
           and Evidence from Policy Reforms

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      Abstract: Abstract Recent research maintains that the observed productivity variation across firms reflects resource misallocation and concludes that large GDP gains may be obtained from market-liberalizing polices. Our theoretical analysis examines the impact on productivity dispersion of reallocation frictions in the form of costs of entry, operation, and restructuring, and shows that reforms reducing these frictions may raise dispersion of productivity across firms. Contrary to conventional wisdom, the model does not imply a negative relationship between aggregate productivity and productivity dispersion. Our empirical analysis focuses on episodes of liberalizing policy reforms in the US and six East European transition economies. We find that deregulation of US telecommunications equipment manufacturing is associated with increased, not reduced, productivity dispersion, and that every transition economy in our sample shows a sharp rise in dispersion after liberalization. Productivity dispersion under communist central planning is similar to that in the US, and it rises faster in countries liberalizing more quickly. We also find that lagged productivity dispersion predicts higher future productivity growth, likely because dispersion reflects experimentation by both entering and incumbent firms. The analysis suggests there is no simple relationship between the policy environment and productivity dispersion.
      PubDate: 2022-03-01
      DOI: 10.1057/s41294-021-00157-0
       
  • Microfinance, Poverty and Education

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      Abstract: Abstract This paper studies the relationship between microfinance, education and poverty at the macrolevel using a cross-country panel dataset of 116 countries over the period of 1999–2018. Disaggregating the effects by income levels and taking account of the potential problem of endogeneity related to microfinance institutions’ loans, this analysis reveals that any increase in the size of the gross loan portfolio of MFIs leads to a reduction in poverty in high- and middle-income economies. Moreover, I show that there is no significant relationship between microfinance and poverty in countries with lower levels of income. I also examine the channels through which microfinance affects poverty and find that any increase in the size of the microfinance sector fosters education which, in turn, reduces poverty.
      PubDate: 2022-03-01
      DOI: 10.1057/s41294-021-00145-4
       
  • Does Peace Promote Bilateral Trade Flows' An Economic Analysis of
           Panel Data in Asian Perspective

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      Abstract: Abstract This study investigates the effect of peace on the bilateral trade flows of Pakistan under the framework of the gravity model. Specifically, we tested the impact of peace (using the Global Peace Index) in Pakistan relative to its 26 trading partners on trade flows from 2007 to 2018. Using system GMM estimation procedure that takes care of endogeneity issues, this study shows that the standard gravity model does not hold in the case of Pakistan. Therefore, it is important to investigate whether the peace in Pakistan and its trading partner promotes trade in the regions. Furthermore, the results indicate that a rise in the prevalence of peace in Pakistan relative to its trading nation has significantly and positively contributed to its trade flows. Besides, development of infrastructure improves trade flow due to low transportation cost. From a policy perspective, reducing conflict and promoting peace will further encourage neighboring countries to enhance trade relations, which will be beneficial for the whole region.
      PubDate: 2022-03-01
      DOI: 10.1057/s41294-021-00155-2
       
  • Does Corruption Discourage More Female Entrepreneurs from Applying for
           Credit'

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      Abstract: Abstract There is evidence of a gender gap in access to finance. In this paper, we test the hypothesis that corruption discourages more female than male entrepreneurs from applying for credit. We use data on access to credit and corruption at the firm level for a large dataset of firms from 68 countries worldwide. We demonstrate that female entrepreneurs are more discouraged by corruption to ask for credit than male borrowers. We find evidence for two explanations for the gendered impact of corruption on borrower discouragement: women have less experience in management than men and as such can have less experience to deal with corruption, and gender inequality in society enhances the discouragement of female borrowers. Thus, our findings provide evidence that corruption enhances the gender gap in access to finance, enhancing gender inequality in participation in economic activity.
      PubDate: 2022-01-28
      DOI: 10.1057/s41294-022-00184-5
       
  • Fiscal Consolidation, Social Sector Expenditures and Twin Deficit
           Hypothesis: Evidence from Emerging and Middle-Income Countries

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      Abstract: Abstract Following the present scale of fiscal imbalances, governments often implement fiscal consolidation programs to restore macroeconomic stability. This paper empirically explores the connections between social expenditure, current account and fiscal consolidations using the system-GMM estimator, on a panel of 23 emerging and middle-income countries for the 2009–2018 period. Our results confirm that government social expenditure decreases once fiscal austerity measures are implemented, practically when they are spending-driven. Fiscal consolidation may hurt important social expenditure allocation mainly on education and health components. Furthermore, we find that fiscal consolidation improves the current account deficit, providing support for the twin deficits hypothesis. These findings indicate that fiscal consolidation will eventually contribute to medium- and long-term external debt stability through the current account improvement. However, the exclusion of key growth determinants such as human capital can lead to many inefficiencies such as weak competition in the provision of social services (Jafarov and Gunnarsson in Government spending on health care and education in Croatia: Efficiency and reform options, working paper 136, International Monetary Fund, 2008). We suggest rationalizing social spending and devoting the country’s revenue to necessary and economically productive projects. The efficient use of resources will thus ensure better quality of education and health care services. This calls for good governance, an adequate administration and effective delivery structures.
      PubDate: 2022-01-28
      DOI: 10.1057/s41294-022-00183-6
       
  • The Devil is in the Details: On the Robust Determinants of Development Aid
           in G5 Sahel Countries

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      Abstract: Abstract This paper introduces model uncertainty into the empirical study on the determinants of development aid at the regional level. This is done by adopting a panel Bayesian model averaging approach applied on the data of G5 Sahel countries, spanning the period 1980–2018. Our results suggest that among the regressors considered, those reflecting terrorist attacks, trade stakes including military expenditure, socioeconomic prospects and institutional conditions tend to receive high posterior inclusion probabilities. Then, the study explores the relationship between these regressors and foreign aid by employing the fully modified ordinary least squares (FMOLS), the continuously updated fully modified (CUP-FM), the dynamic ordinary least squares (DOLS) long-run estimators and the Dumitrescu and Hurlin’s (2012) panel causality test. Results highlight three concerns that may justify aid flows toward G5 Sahel countries: (a) peace and security purposes, (b) economic interest of donors and (c) recipient economic needs. The paper recommends that the Sahel countries should strengthen international cooperation for security and peace in compliance with the goal 16 of the 2030 Agenda for sustainable development of the United Nations (UN) and the goal 13 of the African Union’s (AU) Agenda 2063.
      PubDate: 2022-01-18
      DOI: 10.1057/s41294-021-00182-z
       
  • On the Measurement and Extent of Banks’ Political Connection in the
           Middle East and North Africa Region

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      Abstract: Abstract In this article, we attempt to create a new measure of political connections specific to the Middle East and North Africa (MENA) region to examine the extent to which political patronage affects banks’ leverage and risk in this region. Principal component analysis and panel regressions are performed for a sample of banks operating in the MENA region between 2003 and 2017. The new measure incorporates different forms of political links and aspects. A comparison between two political connections variables provides evidence that our measure may outperform the use of a binary variable. Also, our results regarding the MENA region are different from previous ones, which may be explained by the failure of binary variables to capture the real impact of political connection.
      PubDate: 2022-01-13
      DOI: 10.1057/s41294-021-00179-8
       
  • Economic and Social Disparities across Subnational Regions of South
           America: A Spatial Convergence Approach

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      Abstract: Abstract This paper studies the evolution of economic and social disparities across South America. By exploiting a novel multi-country subnational dataset, we evaluate the evolution of gross national income per capita (GNI) and the human development index (HDI) across 151 subnational regions over the 1990–2018 period. In particular, regional dynamics are evaluated through the lens of two spatial convergence models. The first model deals with the role of spatial dependence. Results indicate that for both GNI and HDI, there is an overall process of regional convergence. Furthermore, spatial dependence plays a significant role in this process. A spatial error specification suggests that spatial dependence accelerates the speed of convergence in some decades, but decelerates it in others. The second model deals with the role of spatial heterogeneity. Results indicate that for both GNI and HDI, the speed of convergence is largely heterogeneous across space and time. Moreover, economic and social disparities are characterized by multi-country spatial clusters that show both converging and diverging trends. Taken together, these results emphasize the importance of accounting for spatial dependence and heterogeneity when evaluating the dynamics of economic and social inequality in South America.
      PubDate: 2022-01-04
      DOI: 10.1057/s41294-021-00181-0
       
  • Wage Bargaining Coordination, Taxation and Labor Costs: The Effects of
           Fiscal Devaluation

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      Abstract: Abstract This study empirically investigates the effects of fiscal devaluation—i.e., a tax shift from employers’ social security contributions to value added tax—on real labor costs on a sample of 23 countries, members of the European Union, over the period between 2001 and 2018. Our results show that fiscal devaluation indeed reduces real labor costs, as suggested in the literature on fiscal devaluations. The effects turn out to be the strongest, and mostly statistically significant, for countries with intermediate and low degrees of wage bargaining coordination, stressing the importance of labor market institutions. For these countries, we find that both value added tax hikes and cuts in employers’ social security contributions help to reduce real labor costs. Countries with a high degree of wage bargaining coordination, where the impact of fiscal devaluation is weaker, should be able to influence real labor costs via coordinated incomes policy, so that the potentially needed labor costs adjustments can be managed even without the implementation of fiscal devaluations.
      PubDate: 2022-01-03
      DOI: 10.1057/s41294-021-00180-1
       
  • János Kornai (1928–2021): One of the Intellectual Giants of the
           Twentieth Century

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      PubDate: 2021-12-01
      DOI: 10.1057/s41294-021-00175-y
       
  • Civil War, Famine and the Persistence of Human Capital: Evidence from
           Tajikistan

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      Abstract: Abstract The dissolution of the Soviet Union and 1992–96 Tajik civil war resulted in huge human and economic losses. Nevertheless, contemporary data suggest the persistence of investments in human capital in the region most affected by famine and least favoured since the cessation of hostilities, Gorno-Badakhshan Autonomous Oblast. Famine-affected women have greater stature and final educational attainment, later ages at marriage and lower fertility than do those in the neighbouring border province, Khatlon. Educational interactions between adults and children under age six are much more frequent. The continued emphasis on human capital after economic collapse is consistent with a locational imperative for households to earn incomes outside of agriculture, and with a higher relative status of women in non-agrarian societies.
      PubDate: 2021-12-01
      DOI: 10.1057/s41294-021-00174-z
       
  • Post-Soviet Agricultural Restructuring: A Success Story After All'

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      Abstract: Abstract Challenging the initial expectation that all post-Soviet economies will evolve from collective toward fully individualized farming, I argue that they separated into two different reform paths. In the European successor countries and Kazakhstan, corporate and family farms coexist, labor exited agriculture, and capital inflow boosted labor productivity (a “Westernization”). In the Transcaucasian and the other Central Asian countries, complete farm individualization did not increase labor productivity much, in turn keeping rural incomes depressed (a “Southernization” akin to the Global South). Future policies should promote income alternatives to agriculture and improve the flexibility and transparency of farm consolidation processes.
      PubDate: 2021-10-05
      DOI: 10.1057/s41294-021-00172-1
       
 
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