Economic Annals最新文献_第6页

The asymmetric effects of currency devaluation in selected sub-Saharan Africa 货币贬值对撒哈拉以南非洲地区的不对称影响

Economic Annals Pub Date : 2021-01-01 DOI: 10.2298/EKA2130135O

Joseph Odionye Chukwudi, Jude Chukwu Okechukwu

{"title":"The asymmetric effects of currency devaluation in selected sub-Saharan Africa","authors":"Joseph Odionye Chukwudi, Jude Chukwu Okechukwu","doi":"10.2298/EKA2130135O","DOIUrl":"https://doi.org/10.2298/EKA2130135O","url":null,"abstract":": Economic activities in many sub-Saharan African (SSA) countries have weakened markedly in the last few years, with deterioration in trade balances, in-creasing foreign reserve depletion, and exchange rate depreciation. This situation has led to a call by the International Monetary Fund for more flexible exchange rate adjustment and even currency devaluation to reverse the economic downturn. This call for devaluation has generated controversy among economists and policymakers in these countries and has revived the need to study the effects of devaluation on economic output in SSA countries. This study therefore examines the asymmetric effects of currency devaluation as a policy shift on economic output between 1980 and 2019 in six selected SSA countries, namely Ghana, Kenya, Tanzania, Mozambique, Nigeria, and Malawi. The study employs the smooth transition regression (STR) model to determine the relative asymmetric responses of economic output to devaluation and non-devaluation regimes. The results of STR are mixed, as devaluation asymmetrically impacts positively and significantly on economic output in Ghana, Kenya, Tanzania, and Mozambique, but is insignificant in the case of Nigeria and Malawi. This mixed result suggests that the impact of currency devaluation on economic output differs across countries depending on the structure and size of the economy, the nature of goods produced, and the supportive policies in place, among other things. The policy implication of the findings is that policymakers in various countries should understand the peculiarity of core macroeconomic variables in order to design and implement robust policies. effects of currency devaluation on economic output in selected SSA countries a switching model.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"66 1","pages":"135-155"},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476958","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: 3

Mutual fund performance: Some recent evidence from European equity funds 共同基金的表现:来自欧洲股票基金的一些近期证据

Economic Annals Pub Date : 2021-01-01 DOI: 10.2298/eka2130007b

M. Božović

引用次数: 0

Is there a trade convergence between South East European and Central European economies 东南欧和中欧经济体之间是否存在贸易趋同

Economic Annals Pub Date : 2021-01-01 DOI: 10.2298/eka2131007n

G. Nikolić, I. Nikolić

引用次数: 0

Transition and post-conflict macroeconomic policies in Serbia 塞尔维亚的过渡和冲突后宏观经济政策

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2026073l

Miroljub Labus

{"title":"Transition and post-conflict macroeconomic policies in Serbia","authors":"Miroljub Labus","doi":"10.2298/eka2026073l","DOIUrl":"https://doi.org/10.2298/eka2026073l","url":null,"abstract":"This paper evaluates the economic performance of the three distinct policy regimes that have been adopted in Serbia since the onset of transition in 2000. The conflict period from 1991 to 1999 deter-mined the starting point of transition and its subsequent realisation. This pre-transi-tion shock was more severe than the shock imposed by the Great Recession in 2008. Besides these shocks, the legacy of con-flict, and unresolved privatisation issues, macroeconomic policies also substantially influenced the performance of the Serbian economy. Three distinct policies were implemented between 2000 and 2018 with clearly differ-ent approaches: neoliberal, populist, and interventionist. This paper evaluates these policies using quarterly data on 20 macro-economic indicators classified in 5 groups: macroeconomic stability and domestic, foreign, financial, and labour markets. Re-garding the achievements of the three mac-roeconomic policies, the neoliberal policy is usually blamed for all the deficiencies in the economy in the period between 2000Q1 and 2006Q2. To the contrary, our data in-dicates that this policy performed the best. The populist policy in the next period from 2006Q3 to 2012Q2 performed the worst. Fi-nally, the interventionist policy, starting in 2012Q3 and evaluated up to 2018Q4, has been inferior to the neoliberal policy but superior to the populist policy. The analysis suggests that apart from macroeconomic policies the starting point of transition mat-ters for a successful economic transition.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"65 1","pages":"73-102"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476081","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: 3

Organisational learning in Serbia during the transition: The legacy of Bozidar Cerovic and his contribution to transition research 转型期间塞尔维亚的组织学习:波兹达尔·切洛维奇的遗产及其对转型研究的贡献

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2025073a

Ana Aleksić-Mirić, Biljana Bogićević-Milikić, Nebojša Janićijević

{"title":"Organisational learning in Serbia during the transition: The legacy of Bozidar Cerovic and his contribution to transition research","authors":"Ana Aleksić-Mirić, Biljana Bogićević-Milikić, Nebojša Janićijević","doi":"10.2298/eka2025073a","DOIUrl":"https://doi.org/10.2298/eka2025073a","url":null,"abstract":"* University of Belgrade, Faculty of Economics, Serbia, ana.aleksic@ekof.bg.ac.rs ** University of Belgrade, Faculty of Economics, Serbia, biljana.bogicevic@ekof.bg.ac.rs *** University of Belgrade, Faculty of Economics, Serbianebojsa.janicijevic@ekof.bg.ac.rs JEL CLASSIFICATION: P31, P21, M10 ABSTRACT: In this paper we address the issue of organisational learning in Serbia during the transition, based extensively on the research work of Božidar Cerović that was published in his conference papers, academic journals, books, and edited volumes from the 1990s onwards, as well as in our joint research. We delineate three generations of organisational learning in the post-1989 transformation, which correspond to the transition periods comprehensively analysed in Cerović’s work. We discuss each of these generations of organisational learning as characterised by the specific learning context, shaded by macro-level determinants and distinctive learning antecedents, nature, practices, and outcomes, and provide a theoretical framework using institutional organisation theory to highlight the specific issue of organisational learning in Serbia during the transition of South-Eastern Europe.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"65 1","pages":"73-104"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476335","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 domestic impacts and spillovers of capital controls 资本管制的国内影响和溢出效应

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2027031z

Chokri Zehri

引用次数: 0

Erratum: Correction to Stubbs (2019) 勘误:对Stubbs的更正(2019)

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2024131e

E. Editorial

引用次数: 0

The Serbian economy ten years after the global economic crisis 全球经济危机十年后的塞尔维亚经济

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2025033u

M. Uvalić, B. Cerović, J. Atanasijević

引用次数: 2

The Serbian pension system in transition: A silent break with Bismarck 转型中的塞尔维亚养老金制度:与俾斯麦的无声决裂

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2025105m

G. Matković, Katarina Stanić

引用次数: 3

The impact of institutional quality on economic growth: A comparative analysis of the EU and non-EU countries of Southeast Europe 制度质量对经济增长的影响:欧盟与非欧盟东南欧国家的比较分析

Economic Annals Pub Date : 2020-01-01 DOI: 10.2298/eka2025163r

Marija Radulović

{"title":"The impact of institutional quality on economic growth: A comparative analysis of the EU and non-EU countries of Southeast Europe","authors":"Marija Radulović","doi":"10.2298/eka2025163r","DOIUrl":"https://doi.org/10.2298/eka2025163r","url":null,"abstract":"The quality of institutions and its impact on economic growth has become more important in recent years, especially in transition countries that must reform their institutions to create a market economy and meet the preconditions for joining the EU. This is the case with the countries of Southeastern Europe, some of which are already EU members, while others are in the process of joining the EU. This paper examines the effects of institutional quality on the economic growth of South- East Europe and compares these effects in EU and non-EU countries for the period 1996-2017, using Worldwide Governance Indicators (WGI) to measure the quality of institutions and the GDP growth rate. The panel autoregressive distributed lag (ARDL) approach is used to analyse the relationship between institutional quality and economic growth. The results show that in EU countries there is a long-run relationship between institutional quality and economic growth for all significant variables, while in the non-EU countries only government effectiveness, political stability and absence of violence, regulatory quality, and voice and accountability are statistically significant. Furthermore, in EU countries there is no short-run relationship between institutional quality and economic growth, while in the non-EU countries of SEE, regulatory quality and voice and accountability are significant.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68476442","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: 13