AARN: Economic Systems (Sub-Topic)最新文献

{"title":"Tourism Competitiveness in the European Union: A Quantitave Objective Model Study","authors":"José Miguel Rodríguez Antón, Luis Rubio-Andrada","doi":"10.7200/esicm.153.0472.1","DOIUrl":"https://doi.org/10.7200/esicm.153.0472.1","url":null,"abstract":"There is strong competition worldwide to increase the income international tourists, demanding that all nations increase competitiveness. In this context, following an analysis of the main competitiveness models, the creation of a quantitative objective model of the competitiveness of tourist destinations derived the model of the World Economic Forum (WEF) is proposed. This model should be able to objectively measure the tourism competitiveness of countries. Its internal structure and validity are proven through an exploratory factorial analysis and used to measure the tourism competitiveness of the 28 countries within the European Union. The results show that the newly d model is not only valid in statistical terms but capable of explaining the entry of international tourists to a greater extent than the WEF model, as it offers a higher correlation than the correlation achieved by the reference model.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115750816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Value Chain Innovations for Technology Transfer in Developing and Emerging Economies: Concept, Typology and Policy Implications","authors":"J. Swinnen, R. Kuijpers","doi":"10.2139/ssrn.2771612","DOIUrl":"https://doi.org/10.2139/ssrn.2771612","url":null,"abstract":"The adoption of modern technologies in agriculture is crucial for improving productivity of poor farmers and poverty reduction. However, the adoption of modern technology has been disappointing. The role of value chains in technology adoption has been largely ignored so far, despite the dramatic transformation and spread of modern agri-food value chains. We argue that value chain organization and innovations can have an important impact on modern technology adoption, not just by downstream companies, but also by farmers. We provide a conceptual framework and an empirical typology of institutional innovations through which value chains can contribute to technology transfer to agriculture in developing and emerging countries.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127366137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Religion and Economic Growth: Elements from Sikhism","authors":"Charan Singh","doi":"10.2139/ssrn.2763585","DOIUrl":"https://doi.org/10.2139/ssrn.2763585","url":null,"abstract":"The Sikh religion is one of the most recent religions of the world, which originated during the late fifteenth century and finally formalized in early eighteenth century. There is limited material available in English on Sikh religion and its impact on economic growth. In this article, an attempt has been made to examine the important issues mentioned above in the context of Sikh religion and their impact on economic growth. The emphasis is on education, rational thinking, long term planning, modest consumption, high investment, self-employment, and employment generation. In all the pursuits of economic well-being, the guiding principle has to be meditation, honest work and sharing with others the fruit of hard labor.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126114410","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accelerating into the Abyss: Financial Dependence and the Great Depression","authors":"Mrdjan M. Mladjan","doi":"10.2139/ssrn.2366291","DOIUrl":"https://doi.org/10.2139/ssrn.2366291","url":null,"abstract":"This paper gives new evidence for the importance of bank failures during the Great Depression. Using a panel of state-industry observations from the interwar years, I demonstrate that financially dependent industries saw bigger declines in output relative to their peers. This differential is largest in states that were affected the most by banking failures. The main findings are obtained using the standard indicator of financial dependence for the purposes of investment, pioneered by Rajan and Zingales (1998). I complement them by using a novel measure of financial dependence, based on hand-collected data from the 1920s and specifically designed for periods of severe recessions when investment is not a priority. This is inverse interest cover which describes different channels by which bank failures reduce output compared to the standard measure of dependence. I furthermore find evidence that bank failures reduced output in several more ways than by causing a decline in loan supply. Particularly important was the reduction in demand for durables caused by uncertainty created by local bank failures. To establish causality, I first use Altonji et al. (2005) ratios to exclude omitted variable bias and then instrument bank failures with newly-proposed indicators of predetermined vulnerability of each state’s banking system. My findings show that bank failures can explain a third of decline in manufacturing output during the Great Depression.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125865192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Ideology or Prosperity: Lesson Learned? Democratic Transition Experience of Spain and the Turkish Membership in the European Union","authors":"Dana Zordova","doi":"10.2139/ssrn.2864909","DOIUrl":"https://doi.org/10.2139/ssrn.2864909","url":null,"abstract":"In 1986, the two Iberian countries joined the European Communities after a protracted, over a decade long negotiations and in the Spanish case, a tense exchange of correspondence and opinions. While the existing literature accentuates primarily the value of democracy for Spanish membership, studying archived historical documents opens up the window for an alternative explanation of the prolonged process. The prevalence of archival materials assessing the country's economic situation and devising measures for its improvement suggests that the Spanish lack of democracy could play a lesser role compared to disconsolate economic situation. Vice versa, Spanish membership endeavour had been in a similar manner motivated less by the vision of a shortcut to democracy and more by the promise of economic profit and more importantly, by the wish to break from isolation and return back to the Western world. The European Community represented the first step; the gate to the world where Spain wanted to belong.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124962072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Breaking Bad: Public Pensions and the Loss of that Old-Time Fiscal Religion","authors":"D. Smith, R. Al-Bawwab","doi":"10.2139/SSRN.2743279","DOIUrl":"https://doi.org/10.2139/SSRN.2743279","url":null,"abstract":"The Keynesian Revolution ushered in a new milieu of government deficit spending that overturned a historical tradition of balanced budgets. The historical tradition, the so-called “old-time fiscal religion,” maintained that balanced budgets ensured that those receiving the benefits of government services were also the individuals paying the taxes to cover those benefits. This provided an important taxpayer constraint on government spending. By overturning this old-time fiscal religion, the Keynesian revolution led to massive increases in government deficit spending. Keynesianism provided the intellectual support to push the costs of current government programs onto future generations. While most U.S. states have balanced budget provisions, and thus would seem to avoid this Keynesian tendency towards debt accumulation followed at the national level, the ability for states to underfund pension liabilities for state employees has broken the old-time fiscal religion even at the state level. Defined benefit pension plans, combined with the lack of transparency and misleading actuarial assumptions, have enabled state legislators and taxpayers to push the costs of future obligations made to current employees onto future taxpayers. Akin to the rise in deficit spending at the federal level, breaking the old-time fiscal religion at the state level has led to rising unfunded liability expenditures. Transitioning public pensions from defined benefit to defined contribution models would help redeem the old-time fiscal religion going forward, restoring taxpayer constraint on the growth of state and local government.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"105 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121891746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Трансформация Роли и Задач Центральных Банков (Монетарных Властей) в Современной Экономике (The Transformation of the Role and Tasks of the Central Bank (Monetary Authorities) in the Modern Economy)","authors":"Anna Kiyutsevskaya, Sergey Narkevich, Pavel Trunin","doi":"10.2139/ssrn.2754016","DOIUrl":"https://doi.org/10.2139/ssrn.2754016","url":null,"abstract":"Russian Abstract: Исследование трансформации роли и задач центральных банков на различных этапах экономического развития позволяет определить объективные предпосылки, лежащие в основе эволюции денежно-кредитной политики. Для крупных экономик при выборе режима денежно-кредитной политики важное значение приобретает возможность проведения самостоятельной, независимой денежно-кредитной политики. Помимо этого, как свидетельствует мировой опыт, значимое влияние на выбор целей и задач центральных банков как на современном этапе, так и в исторической ретроспективе оказывают степень финансовой открытости страны и развития ее финансового сектора. По мере интеграции стран в мировую экономику приоритеты их центральных банков смещаются, во-первых, в пользу обеспечения и поддержания ценовой стабильности, и, во-вторых, повышения гибкости механизмов курсообразования. Полученные выводы относительно эволюции целей и задач центральных банков развитых и развивающихся стран позволяют выявить наиболее подходящие режимы денежно-кредитной политики для российского центрального банка.English Abstract: Study of transformation of the role and tasks of central banks at different stages of economic development allows us to determine the objective conditions underlying the evolution of monetary policy. For developed economies, the opportunity to conduct independent monetary policy becomes one of the major factors that determine the choice of the monetary regime. In addition, according to the international experience, the choice of goals and objectives of central banks both at present time and in the historical perspective is greatly affected by the degree of financial openness of the country and the development of its financial sector. While countries become more integrated in the world economy, their central banks shifted priorities, firstly, to achieve and maintain price stability, and, secondly, to increase the flexibility of exchange rate formation. The findings on the evolution of the goals and objectives of the central banks of developed and developing countries reveal the most suitable monetary policy regime for the Russian central bank.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"5 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132364991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pension Provision, Care and Dignity in Old Age: Legal and Economic Issues","authors":"E. Davis, R. Lastra","doi":"10.2139/ssrn.2780484","DOIUrl":"https://doi.org/10.2139/ssrn.2780484","url":null,"abstract":"The legal, policy and economic issues associated with pension provision, care and dignity in old age are fundamental challenges for the future of our society. Pension provision is in crisis and this paper highlights the policy choices and regulatory challenges that this entails. The analysis also highlights the importance of the ‘nuclear family’ and the ‘extended family’ in the provision of care, from child care to old age care and the consideration that the home is the natural environment in which such provision ought to take place. In this context, an adequate legal and regulatory framework for pensions needs to balance a number of competing interests, given the implications in terms of intergenerational debt of the financing of care and income in old age and the broader social justice considerations that are at stake in the design of schemes that provide adequate care and income in old age in a market economy. The starting point should be the dignity of human beings, which today finds general acceptance via the United Nations Universal Declaration of Human Rights. In this context, we highlight inter alia major issues of generational fairness arising in the UK, linked partly but not solely to pension issues. Possible political consequences are a “battle of generations” in the future.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124137946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Credit Cards: Contemporary Issues from Economic and Shariah Perspective","authors":"M. Kahf, A. Mohomed","doi":"10.4197/ISLEC.29-1.4","DOIUrl":"https://doi.org/10.4197/ISLEC.29-1.4","url":null,"abstract":"Over the past few decades, the Islamic finance industry has witnessed exponential growth, intensified innovation and fast development in its products and services. This paper discusses the contemporary issues of credit cards from economic and Shariah perspective and explains the implication of an optional interest clause. Islamic finance providers have experimented with different structures for Islamic credit cards, which, however, have attracted wide-reaching criticism regarding the underlying contracts and whether the concept in itself is in line with the Shariah. From an analysis of the different market practices of Islamic credit cards, we notice that Islamic banks are struggling to find an appropriate approach to provide an Islamic credit card facility which is profitable and meets their financial intermediary purpose. We then propose the concept of prepaid Islamic credit cards and the idea of Master Murabaha Credit Card Agreement which would be more suitable and generate Shariah-compliant returns. This paper also tackles the issue of consumerism and mounting indebtedness from the Shariah perspective, and calls for restrictions and control by Islamic credit card issuers including limiting credits and blocking non-Shariah compliant usages. نمت صناعة التمويل الإسلامي خلال العقود القليلة الماضية نموا متميزا شمل إبداعات كثيرة وتطورا سريعا في المنتجات والخدمات. تناقش هذه الورقة القضايا الشرعية والاقتصادية لبطاقات الائتمان وتشرح مآلات الشرط التخيري للربا. ولقد جربت مؤسسات للتمويل الإسلامي إصدار أشكال عديدة من بطاقات الائتمان، مما أثار سلسلة من الانتقادات التي لم تقف عند العقود التي صدرت بموجبها هذه الأشكال بل بلغت حد التساؤل عن مشروعية فكرة بطاقة الائتمان نفسها. ويتضح من تحليل هذه البطاقات \"الإسلامية\" أن البنوك الإسلامية تحامل جاهدة البحث عن طريقة لإصدار بطاقة ائتمان تتوافق مع الشريعة وتستطيع من خلالها تقديم الخدمات الائتمانية بشكل يحقق لها هدف التربح من خلال الوساطة المالية. وقد اقترحنا في الورقة مفهوما عاما لبطاقة ائتمان تقوم على الدفع المسبق وبطاقة ائتمان تقوم على فكرة المرابحة مع الوكالة مما يمكن أن يطور ليؤدي إلى تحقيق فكرة التمويل بالبطاقة مع عائد مجز ومتوافق مع الشريعة. وقد ناقشت الورقة أيضا باختصار مسألة علاقة بطاقات الائتمان بالعقلية والسلوك الاستهلاكيين وبتراكم المديونية وناقشنا ذلك من الجانب الشرعي كما ناقشنا قضية حجب استعمال البطاقة عن السلع والخدمات غير المسموح بها في الشريعة وقضية تقييد إصدار الائتمان للتخفيف من المديونية.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128783903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Origins, Development, and Fate of Clower's 'Stock-Flow' General-Equilibrium Program","authors":"Romain Plassard","doi":"10.2139/ssrn.2705031","DOIUrl":"https://doi.org/10.2139/ssrn.2705031","url":null,"abstract":"Before becoming the hallmark of macroeconomics a la Wynne Godley, the ‘stock-flow’ analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were supposed to consume, produce, and hold commodities. It is acknowledged that Robert W. Clower was a central figure in this theoretical context. Yet, for both his contemporaries and for historians, his contributions remained essentially technical. No attention was paid to the theoretical project underlying the statics and dynamics analyses of his ‘stock-flow’ price theory. My paper aims to fill this gap. In light of his doctoral dissertation, I show that the elaboration of ‘stock-flow’ market models was part of a project aiming at offering sound microfoundations to a Keynesian business cycle model. I analyze the origins of this microfoundation program, trace its development, and discuss its fate.","PeriodicalId":305946,"journal":{"name":"AARN: Economic Systems (Sub-Topic)","volume":"227 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124770595","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}