Economic Annals最新文献

Egalitarianism and redistributive reform in Serbia after 2000 2000年后塞尔维亚的平均主义和再分配改革

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2337007p

Mihail Arandarenko, D. Pavlović

{"title":"Egalitarianism and redistributive reform in Serbia after 2000","authors":"Mihail Arandarenko, D. Pavlović","doi":"10.2298/eka2337007p","DOIUrl":"https://doi.org/10.2298/eka2337007p","url":null,"abstract":"We investigate post-communist redistributive policies in Serbia, focusing particularly on the period after 2000. Our main argument is that market fundamentalism, which posits that the market is the most efficient solution for the postcommunist transition, has failed to deliver on its promises. The expectation was that, after a temporary transitional sacrifice, the worse-off would benefit equally with the better-off by reaping the rewards of market economic reforms. The anticipated faster growth was supposed to generate more quality jobs as the most effective means to alleviate poverty. Unfortunately, growth has been sluggish, while inequalities in Serbia have experienced rapid and persistent growth since 2000. We look into redistributive reform measures to understand the reasons behind this outcome. Our approach combines applied political philosophy with economic policy analysis - a unique intersection of two social science disciplines. Firstly, our research explores the implicit and explicit normative foundations of postcommunist economic reforms. Secondly, we identify and analyse a pivotal juncture of policy reform in the early 2000s. During this period, the newly-adopted neoliberal taxation and social policies were combined with class- and ethnic-based discriminatory approaches inherited from the pre-1990s socialist era and the post-socialist 1990s, respectively. This combination resulted in distinct, notably pro-rich redistributive patterns in Serbia.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68477035","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}

引用次数: 0

The effectiveness of bilateral investment treaties in attracting foreign direct investment: The case of Serbia 双边投资条约在吸引外国直接投资方面的有效性:以塞尔维亚为例

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2337037k

Radovan Kastratović, Predrag Bjelić

{"title":"The effectiveness of bilateral investment treaties in attracting foreign direct investment: The case of Serbia","authors":"Radovan Kastratović, Predrag Bjelić","doi":"10.2298/eka2337037k","DOIUrl":"https://doi.org/10.2298/eka2337037k","url":null,"abstract":"Over the past several decades there has been increasing competition among countries to attract foreign direct investment, which is often hypothesised to positively affect the development of host countries. Bilateral investment treaties are one of the policy instruments the host countries often use as a means to encourage foreign direct investment inflows. In this study, we aim to explore the effectiveness of bilateral investment treaties in achieving these goals in the case of Serbia. Using the panel data on Serbia and its 198 partner economies observed in the period 2010-2019, we estimate a gravity model of foreign direct investment inflows by applying the Poisson pseudo-maximum likelihood method. We found that ratified bilateral investment treaties have a statistically significant positive effect on foreign direct investment inflows in Serbia. Furthermore, the quality of the treaties was found to positively affect the inflows, whereby the anti-discriminatory provisions seem to be the most important. The results imply that Serbia could attract more foreign direct investment by concluding new bilateral investment treaties and improving the quality of the existing ones.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68477078","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}

引用次数: 0

Modelling the influence of financial inclusion on the remittance growth nexus in Nigeria 模拟普惠金融对尼日利亚汇款增长关系的影响

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2337137s

J. Ogede, Musa Oduola, O. Yinusa, L. Raimi

{"title":"Modelling the influence of financial inclusion on the remittance growth nexus in Nigeria","authors":"J. Ogede, Musa Oduola, O. Yinusa, L. Raimi","doi":"10.2298/eka2337137s","DOIUrl":"https://doi.org/10.2298/eka2337137s","url":null,"abstract":"In this paper, we explore the nexus between remittances and Nigeria?s economic growth over the period 1996 to 2020 from the perspective of financial inclusion (FI). The fully modified ordinary least square (FMOLS) and Granger (1969) causality methodologies were employed. The findings of the FMOLS show that the increasing flow of remittances can significantly contribute to the growth of the Nigerian economy. Also, the interaction of financial inclusion and remittances has a significant impact on the country?s development. The study concludes that the interaction of remittances with the measures of financial inclusion will lead to economic growth at a faster rate than when there is no interaction with financial inclusion. Using the Granger causality test, the study revealed that the relationship between financial inclusion and economic growth is a unidirectional one. It shows that the impact of financial inclusion on growth is conditional on remittances. Therefore, Nigeria?s authorities need to work to strengthen all existing institutional weaknesses that allow questionable transactions in financial markets and to promote a more inclusive financial sector that will reduce the number of unbanked individuals in the country.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68477144","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}

引用次数: 0

In the maelstrom of crises: The European Union and the ‘Zeitenwende’ 危机漩涡中的欧盟与“时代”

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2336007g

Hubert Gabrisch

引用次数: 0

Investigation of the sunspots and GDP nexus: The case of Balkan countries 太阳黑子与GDP关系的调查:以巴尔干国家为例

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2337069z

Berislav Žmuk, Hrvoje Jošić

引用次数: 0

Remittances-finance-growth trilogy: Do remittance and financial development complement or substitute each other to affect growth in Nigeria? 汇款-金融-增长三部曲:汇款和金融发展是相互补充还是相互替代来影响尼日利亚的增长?

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2336105d

J. Dada, T. Akinlo

{"title":"Remittances-finance-growth trilogy: Do remittance and financial development complement or substitute each other to affect growth in Nigeria?","authors":"J. Dada, T. Akinlo","doi":"10.2298/eka2336105d","DOIUrl":"https://doi.org/10.2298/eka2336105d","url":null,"abstract":"The study examines the absorptive role of financial development in the remittance-growth nexus in Nigeria between 1986-2017. In particular, the shortrun, long-run, and causal links between remittances, financial development, and economic growth in Nigeria are investigated using an autoregressive distributed lag bounds test and vector error correction Granger causality. The result shows that financial development and remittances contribute positively to economic growth. Furthermore, findings from the moderating role suggest that financial development and remittances serve as substitutes to affect growth in the short run; however, financial development and remittances perform a complementary role in influencing economic growth in the long run. In addition, the causality tests indicate a one-way relationship from economic growth to financial development as well as bidirectional causality between remittances and financial development in the short run, while financial development and remittances Granger cause economic growth in the long run. The outcome of this study suggests there are time lags in the relationship between remittances, financial development, and economic growth in Nigeria. The implications of the findings are discussed.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68477012","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}

引用次数: 1

Asymmetric reactions of stock prices and industrial output to exchange rate shocks: Multiple threshold nonlinear autoregressive distributed lag framework 股票价格和工业产出对汇率冲击的不对称反应:多阈值非线性自回归分布滞后框架

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2337165c

J. Odionye, J. Chukwu

{"title":"Asymmetric reactions of stock prices and industrial output to exchange rate shocks: Multiple threshold nonlinear autoregressive distributed lag framework","authors":"J. Odionye, J. Chukwu","doi":"10.2298/eka2337165c","DOIUrl":"https://doi.org/10.2298/eka2337165c","url":null,"abstract":"Motivated by swings in the exchange rate of many developing economies which exert influence on firms? input costs, output, stock prices, and profits, the study investigated the asymmetric reactions of stock prices and industrial output to various shocks in the exchange rate in Nigeria using a multiple threshold nonlinear autoregressive distributed lag model and high frequency series from January 1999 to December 2021. Empirical results suggest that stock prices and industrial output react asymmetrically in the opposite direction to exchange rate depreciation. It further indicates that the reactions of both stock prices and industrial output to exchange rate changes are sensitive to the size of shocks. Exchange rate shocks above the 25th percentile significantly and inversely affect both stock prices and industrial output, and the effects of exchange rate shocks on stock prices and industrial output become pernicious if above the 75th percentile. The main economic implication of the empirical finding is that in the upper quantile, both exchange rate depreciation and appreciation hurt industrial output, and hence, stock values. Thus, the multiple threshold nonlinear autoregressive distributed lag results suggest that the reactions of both stock prices and industrial output to exchange rate changes are highly sensitive to the extent of the shocks.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68477174","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}

引用次数: 0

Financial development and innovationled economic growth: Empirical insight from sub-Saharan Africa 金融发展与创新经济增长:来自撒哈拉以南非洲的实证洞察

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2337097j

A. Jibir, H. Zada, M. Abdu, N. Khan

引用次数: 0

Where did all the papers go? A bibliometric overview of publications in economics from Serbia 所有的文件都到哪里去了?塞尔维亚经济学出版物的文献计量学综述

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2336029s

M. Stamenkovic

引用次数: 0

Monetary policy and economic growth in Nigeria: Evidence from bounds and Bayer-Hanck cointegration techniques 尼日利亚货币政策与经济增长:来自边界和bayer - hank协整技术的证据

Economic Annals Pub Date : 2023-01-01 DOI: 10.2298/eka2336081i

Kingsley Imandojemu, Bosede Ngozi Adeleye, Babatunde Aina

引用次数: 1