International Journal of Economic Sciences最新文献

{"title":"The Covid-19 pandemic economic costs in terms of labour force loss","authors":"Ondřej Bednář, B. Kadeřábková","doi":"10.52950/es.2022.11.2.001","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.001","url":null,"abstract":"Within a broader context of economic costs of the recent pandemic we calculate the excess deaths during the COVID-19 pandemic over the whole population and split them into age subgroups. Further, we estimate the cost of the labor force lost due to the pandemic. We employ a general additive model to set up a counterfactual time series of weekly deaths to count the number of deaths if the pandemic did not occur. Subtracting counterfactual series from the actual number of fatalities provides us with the excess deaths. The amount of excess deaths in the whole population is not statistically different from the COVID-19 victims reported by the Ministry of Health. However, we find excess deaths that are substantially higher than the reported COVID-19 causalities in the age group from 35 to 59 years. We estimated the costs of the lost labor force to be approximately 0.03% of the Czech 2021 GDP.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46721604","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":"Job grade camouflage: When low gender pay gap does not mean equal pay","authors":"Jan Čadil, M. Kopecký, Tomas Jurcik","doi":"10.52950/es.2022.11.2.003","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.003","url":null,"abstract":"“Equal pay for equal work” is one of the backbone principles of Responsible Leadership. It is also deeply incorporated in legislation, mostly in developed countries. In recent decades, the gender pay gap has been put forward as a general indicator of equality by policy makers and researches alike. Yet, the research outcomes are disturbingly unsettled in comparison to bold political proclamations that are often based on simplified statistics. In our article we show, that gender pay gap shrinks substantially if firm-level job grades (based on Hay methodology) are used. The methodology used is gender neutral and focuses solely on the job size, not on the incumbent. Moreover, we show that the gender pay gap is not reflecting the idea of “equal pay for equal work” well. In fact, we conclude that people are being paid unequally regardless their gender. Low or non-existent gender pay gap then might just camouflage real inequalities leading managers and stakeholders to false feeling that company follows responsible leadership principles as defined by Steve Kempster (2016).","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43572308","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":"Impact of Regional integration on Trade and Economic Cooperation – a key study of Georgia and Azerbaijan","authors":"L. Kadagishvili, Rusudan Maisuradze","doi":"10.52950/es.2022.11.2.005","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.005","url":null,"abstract":"The South Caucasus is a unique small and densely populated region in the southern part of the Caucasus. It consists of three independent states - Georgia, Azerbaijan and Armenia. Georgia is actively engaged in the Peaceful Neighborhood Initiative in the South Caucasus and strives to deepen political and economic relations with the countries in the region based on sovereign interests. In these processes, strengthening mutually beneficial, trust-based cooperation with the Republic of Azerbaijan is of special interest to Georgia. After the collapse of the Union of Soviet Socialist Republics (USSR) and the regaining of independence by Georgia and Azerbaijan, a completely new phase of diplomatic relations began between the two countries which grew into a strategic partnership. Territorial proximity and the establishment of diplomatic relations have prompted the dynamic development of trade and economic relations between the two countries, which increases the degree of urgency of the study. The presented paper focuses on the priority areas of trade and economic cooperation between Georgia and Azerbaijan. However, at the present stage economics and politics are so closely interrelated that it is impossible to draw a line between them. Therefore, in order to achieve the purpose of the paper, the first chapter focuses on the development of diplomatic relations between the two countries, while the following chapters study trade and economic cooperation between Georgia and Azerbaijan and analyze the development of bilateral cooperation in trade in services; in addition, the trade intensity index is calculated; the importance of investments from Azerbaijan in the Georgian economy is assessed; the transnational energy and transport projects proposed by the Georgian and Azerbaijani governments are discussed; and the growing role of Georgia as trade and transport hub in the Caucasus in both the offshore and onshore components of these projects is assessed. It is noted that trade and economic relations have growing dynamics and show readiness to further develop cooperation. In addition, some suggestions that will be helpful for Georgia to increase the scale of cooperation with Azerbaijan and assist deepening the involvement of the two countries in the world integration processes are proposed. We believe that the paper will enhance further research and discussion on trade and economic cooperation between Georgia and Azerbaijan and, most importantly, ensure support for this kind of cooperation.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44965848","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":"Foreign Direct Investment and Inclusive Growth: The Role of the Financial Sector Development","authors":"Emeka Nkoro, Aham Kelvin Uko","doi":"10.52950/es.2022.11.2.008","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.008","url":null,"abstract":"This study examined the role of the domestic financial sector development in the relationship between foreign direct investment (FDI) inflows and inclusive growth in Nigeria over the period, 1981-2020 using annual time series. Analytically, the study employed the autoregressive distributed lag approach of cointegration. The bound test result shows that there is a long-run relationship between inclusive growth and financial sector development, as well as the other underlying variables. Empirically, the result reveals that the FDI exerted a significant positive effect on inclusive growth when the domestic financial sector has reached a certain minimum level of development. The result further shows that the FDI alone has a significant negative effect on inclusive growth. This means that FDI alone does not necessarily increase the well-being of the people, except when a certain minimum level of financial sector development is attained. This is evidence that the domestic financial sector development is a pre-condition for FDI to effectively promote inclusive growth in Nigeria. Therefore, the study recommends that the development of the domestic absorptive capacity-financial sector development should be extended by promoting reforms that will translate FDI inflow into inclusive growth.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43037181","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":"Advances in costs optimization methods – key study of maintenance and restoration of cultural heritage","authors":"J. Pojar, D. Macek, R. Schneiderová Heralová, S. Vitásek","doi":"10.52950/es.2022.11.2.009","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.009","url":null,"abstract":"The article deals with the issue of restoration and care of cultural heritage buildings in the Czech Republic. The content is focused mainly on the topic of valuation of construction works. Obtaining quality documents is very important for planning reconstruction and maintenance works on a building of cultural heritage. Proper and timely maintenance work is the key to maintaining the value of the building and increasing its viability.\u0000The tool for assessing the economic sustainability of an immovable cultural heritage is a life cycle cost analysis carried out on the basis of relevant input data on the technical parameters of the building, structural elements and equipment, the time period of the occurrence of costs related to them. The analysis becomes an important basis for decision-making by the owner, the designer and the future user on choosing the optimal variant of the technical solution for restoration, also with regard to ecological aspects, cultural and historical value and long-term economic consequences.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43489635","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":"A Housing Market with Cournot Competition and a Third Housing Sector","authors":"T. Borgersen","doi":"10.52950/es.2022.11.2.002","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.002","url":null,"abstract":"This paper integrates a non-profit third-housing sector (THS) into a housing market with Cournot competition. The paper analyses the indirect effects of a THS on the aggregate housing market, on a commercial housing supplier and on the market adaption of households not embraced by the THS. While beneficial for households included in the THS, a question arises related to the indirect effects of a THS. The paper argues for crowding-out and higher house prices in the commercial housing market in response to a THS expansion. In addition, a THS also affects the strategic behaviour of the commercial housing supplier. Compared to a conventional Cournot housing market, a fixed THS housing supply changes the market structure from one where the housing supply of different housing providers are alternative to one-another, to a market structure where housing supply is complementary.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48800414","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":"Optimal allocation of bank resources and risk reduction through portfolio decentralization","authors":"A. Mohammadi, Mehrzad Minnoei, Zadollah Fathi, Mohamamd Ali Keramati, Hossein Baktiari","doi":"10.52950/es.2022.11.2.007","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.007","url":null,"abstract":"The main concern of all economic companies is the resources equipping and allocating them in different economic sectors with the aim of maximizing profit and minimizing risk. Decentralization is one of the important factors that reduce investment risk. The investors plan to create investment by carefully planning and collecting sufficient information on the economic situation and analyzing the situation of various industries. As an economic enterprise, banks are looking for short- and long-term investments in a types of loans ,such as bailment of a capital , civil participation, reward, etc, which guarantees the return of their capital. In this paper, considering the condition of a bank as an economic enterprise, a model is presented which not only increases profit but also reduces risk. Two objective functions have been defined that the first objective is to minimize the risk and the second objective function is to maximize the of the bank profit, which is used by robust programming and Malvi Sim model. In this paper, we have investigated the Risky and non-Risky Partfolio and the optimal portfolio of bank assets from scenario based solution of the model and by using PSO and Genetic Optimization Algorithm. At all levels of confidence and optimal values of risk based on the estimation of SPP-CVAR method by Particle Swarm Algorithm (PSA) is less than genetic algorithm, which indicates better performance of Particle Swarm Algorithm (PSA) than Genetic Algorithm (GA). Also, the optimum wealth obtained from PSA solution is higher at all levels of confidence than the corresponding value of Genetic Algorithm (GA), and this is another reason to confirm the performance of PSO algorithm compared to the Genetic Algorithm (GA). The values of the first goal function, obtained from the PSO algorithm, for all confidence levels are lower than those of the genetic algorithm. The optimum wealth obtained from PSA is higher than genetic algorithm. At 0.9 level, the value of LR of kupiec statistics for the SPP-CVAR method was less than the Chi-square statistics (Critical value) which was assumed to be acceptable.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43016955","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":"Health expenditure, life expectancy, fertility rate, CO2 emissions and economic growth Do public, private and external health expenditure matter","authors":"M. Sabra","doi":"10.52950/es.2022.11.2.010","DOIUrl":"https://doi.org/10.52950/es.2022.11.2.010","url":null,"abstract":"This article aims to detect empirically, the nexus dynamic interrelationships between health expenditure, totally and disaggregated, economic growth, fertility rate, life expectancy and CO2 emissions in six middle-income MENA countries, namely, (Algeria, Egypt, Jordan, Lebanon, Morocco, and Tunisia), during 2000 to 2019. We employ an advanced econometric technique, Dynamic Panel Data system analysis, which allows estimating time rarely variant variables. Article results show a significant and robust positive association between health expenditure and economic growth, in one hand, and negative associations between economic growth and all which of, fertility rate, life expectancy and CO2 emissions, on the other hand. Moreover, a negative nexus between fertility rate and life expectancy has been detected. Public, private and external health expenditure affect economic growth positively and significantly, meanwhile affect fertility rate negatively, except health public expenditure, which seems to encourage fertility rate. This indicates that disaggregated health expenditure matters for examination. Furthermore, negative impact of CO2 emissions on growth and life expectancy can crowd out health expenditure positive impacts on both growth and life expectancy. A series of recommendations have been introduced such as increasing health share in public spending, and for more effective government health expenditure and control pollution and CO2 emissions. Furthermore, health spending, policies and system has to function as well to mitigate impacts of high fertility, in marginalized, rural and fungible population and areas. This article shines a light on the notable issues in the area, whereas high fertility rate, limited government health expenditure, high employment and low awareness for pollution and environment degradation.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":"1 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42986938","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":"Socio-Economic Factors of Differences in Public Health-Related Variables among Women: A Cross-Sectional Study","authors":"Dr Muhammad Ramzan Sheikh, Hadees Akhtar, I. Hussain","doi":"10.55603/jes.v1i1.a1","DOIUrl":"https://doi.org/10.55603/jes.v1i1.a1","url":null,"abstract":"This study examines the association of living areas (slum and non-slum) with the selected public health-related variables in the presence of socioeconomic variables among married women and also having a child. A total of 150 women aged 18 to 49 are selected of which 50 women from slums and 100 women are from non-slum areas of Multan by applying the cluster and random sampling techniques. The cross-tabulation method is used to find the results. The dependent variable is Body Mass Index (BMI) and it is analyzed with the socio-economic variables such as mass media index, household characteristics and education. The findings exhibit that the BMI of the women living in the slum areas is low due to a low level of education, lack of mass media access, bad household structures, and poor or ignorant area. The women of the slum area have fewer mass media access, poor status of household characteristics and less education as compared to the women living in the non-slum areas. BMI is significantly affected by area, women's education and household characteristics except for physical work, job status, mass media access and husband education. The findings of this study suggest that to provide health facilities or to reduce the gap in public health, education, mass media access and households characteristics might be considered while making any decision related to the slum and non-slum areas.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":"26 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87323139","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":"Macroeconomic Instability and Terrorism Nexus; Empirical Evidence in Case of Pakistan","authors":"Hafsa Jabeen, Ayesha Naz","doi":"10.55603/jes.v1i1.a6","DOIUrl":"https://doi.org/10.55603/jes.v1i1.a6","url":null,"abstract":"The current study is an attempt to analyze the association between macroeconomic instability and terrorism in Pakistan over the period of 1970 to 2020. Six important variables are taken as a proxy to measure macroeconomic instability which includes external debt, budget deficit, trade deficit, real effective exchange rate (REER), inflation and unemployment. Results indicate that there exists a long run cointegration relationship between the indictors of macroeconomic instability and terrorism. FMOLS is employed to obtain the estimates and it reveals that budget deficit and external debt is negatively associated with terrorism. It indicates that government expenditures on different project such as infrastructure create economic opportunities, therefore, reduces terrorism. Furthermore, welfare programmes also improve the performance of socioeconomic variables that translates into harmonized environment which lessens violence. The variable of trade deficit, inflation and unemployment has positive impact on terrorism while REER is insignificant. In context of trade deficit, higher imports results in job loss of domestic industries, hence, it hits the vulnerable groups. Therefore, the opportunity cost of life of these groups reduces and it increases the probability to become a part of terrorist activities. Inflation also pushes the vulnerable groups in poverty by reduces the purchasing power and unemployed individuals are also easy target to get involve themselves in acts of aggression. This study also constructs the macroeconomic instability index including the six variables through principal component analysis (PCA). Results of this model show that macroeconomic instability index and GDP has positive effect on terrorism. In case of GDP, the plausible reason could be uneven income distribution that increases terrorist activities. For the policy implications, government need to divert the resources from non-productive to productive uses through the investment in such projects which has direct and indirect impact on the welfare. In this way deprived group will enjoy economic perks and engage themselves in productive activities rather than becoming a helping hand in terrorism.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":"38 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77243388","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}