{"title":"Artificial Intelligence and Economic Growth: A Theoretical Framework","authors":"Lei Wang, P. Sarker, Kausar Alam, S. Sumon","doi":"10.47743/saeb-2021-0027","DOIUrl":"https://doi.org/10.47743/saeb-2021-0027","url":null,"abstract":"The growing adoption of Artificial Intelligence (AI) has sparked ubiquitous concerns worldwide. Artificial intelligence can affect economic growth and employment. The influence is assumed to be substantial because the adoption of AI technology may lead to increased productivity, lower wages, prices, and labor substitution. Artificial intelligence can affect global economic growth with its widespread adoption and diffusion. We mathematically examined the effects of AI on economic growth, reiterating how AI is unique as a production factor. The models show that AI capital lowers capital prices, increases wages, and augments productivity. Besides, AI capital positively affects the labor share and vice versa, provided that AI and labor are complementary. We improved a task-based model to show AI raises both labor share and wages by generating new tasks. We also present the potential policy implications of AI adoption. We conclude AI can contribute to economic growth. Labor-abundant countries should adopt labor-augmenting technology, while countries with an aging population can adopt capital-augmenting technology. However, caution should be exercised in ensuring that the models are leveraged optimally.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49384084","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":"Intellectual Capital, Technological Intensity and Firm Performance: The Case of Emerging Countries","authors":"M. Öner, A. Aybars, Murat Çinko, Emin Avci","doi":"10.47743/saeb-2021-0026","DOIUrl":"https://doi.org/10.47743/saeb-2021-0026","url":null,"abstract":"While neglecting the importance of technological intensity, most of the prior studies documented the positive contribution of intellectual capital (IC) to corporate financial performance. This study aims at analyzing the relation between IC and corporate financial performance addressing the technological intensity in different sectors from 17 emerging countries. The impact of IC, which is measured by Value Added Intellectual Coefficient (VAIC) and its components; Capital Employed Efficiency (CEE), Human Capital Efficiency (HCE), and Structural Capital Efficiency (SCE), on corporate financial performance will be evaluated using panel data analysis for the period between 2009-2019. Accordingly, IC and its components are found to be significant drivers of financial performance being higher for sectors that are more technology intensive. Moreover, human and physical capital are the main components, which boost finance performance for all groups irrespective of technological intensity in the emerging market context.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48267124","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}
Josué Gutiérrez-Barroso, A. Báez-García, Francisco Flores-Muñoz, Diego Valentinetti
{"title":"Instagram: Balancing Information Asymmetry of the Tourism Industry","authors":"Josué Gutiérrez-Barroso, A. Báez-García, Francisco Flores-Muñoz, Diego Valentinetti","doi":"10.47743/saeb-2021-0025","DOIUrl":"https://doi.org/10.47743/saeb-2021-0025","url":null,"abstract":"This study focuses on the use of Instagram by tourism companies. Specifically, it aims to analyze how Instagram empowers individuals over corporations in the digital dialogue, thus balancing the information asymmetry between corporations and stakeholders. Four categories of metrics have been collected to analyze the use of Instagram by companies: presence, impact, conversation, and influence. Additionally, OLS regressions have been performed to identify potential explanatory factors to explain the different behavior of each firm and its corresponding communities. While the use of Instagram by the selected firms is still scarce, significant results are as follows: corporations are using Instagram as an additional channel in their current communication; some explanatory factors account for significant differences in countries, size, and industries; and users are somehow reactive to the stream of pictures and texts disclosed by firms. The presence and impact of companies on Instagram are a highly important source for driving stakeholders’ conversation within the digital arena.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43630314","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}
Blas DÍaz León, Ignacio Martínez Fernández, Luis Palma Martos
{"title":"Temporal Restriction and Interest for the Elderly on Cultural Participation. The Case of Spanish Performing Arts 2019","authors":"Blas DÍaz León, Ignacio Martínez Fernández, Luis Palma Martos","doi":"10.47743/saeb-2021-0030","DOIUrl":"https://doi.org/10.47743/saeb-2021-0030","url":null,"abstract":"This paper discusses the relationship of cultural participation in performing arts with the manifested interest. Using the data set from the Cultural Habits and Practices Survey 2018-2019 a binary probit model has been applied for the analysis. Emphasizing the role of aging in participation, especially for the group of the elderly and very old. The age variable is one of the most difficult variables to apprehend, in which the cohort effects, age itself and period should be considered. This paper is an approach to the study of the aging effect on cultural participation, which would be continued with the analysis of the Surveys in previous years. This work shows that there is no homogeneous behavior between participation and interest within the different performing arts. Presenting some of them differentiating features.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43717904","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}
Gatot Nazir Ahmad,Haryo Kuncoro,Harmuzan Tazril,Dicky Iranto
{"title":"Volatility Exchange Rate and Economic Growth: Insight from ASEAN Member Countries","authors":"Gatot Nazir Ahmad,Haryo Kuncoro,Harmuzan Tazril,Dicky Iranto","doi":"10.47743/saeb-2021-0023","DOIUrl":"https://doi.org/10.47743/saeb-2021-0023","url":null,"abstract":"This study aims to determine the effect of exchange rate volatility on economic growth in the ASEAN member countries (Indonesia, Thailand, Vietnam, and Cambodia) through investment. Based on the previous studies, the researcher focuses on developing the initial research analysis because it can control different company levels' characteristics and then determine the impact of exchange rate changes on economic growth mediated by investment. There is a limited analysis of whether exchange rate movements encourage overall investment in this study's particular direction. The author's primary focus is whether the export or import channels or both play an essential role in determining a company's investment. This study's population is in ASEAN member countries that have been published by the World Bank (https://www.worldbank.org/) and continue to exist during the period 1998-2019. The sample selection in this study used a purposive sampling method. Some of the ratio data were available in the financial report summary. The analysis method used in the study is the path analysis.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"16 1","pages":"495-507"},"PeriodicalIF":0.6,"publicationDate":"2021-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138517873","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":"Threshold Cointegration Approach for Assessing the Impact of US Economic Policy Uncertainty on Monetary Policy Decision of African Countries","authors":"Prince Mensah Osei, A. Adam","doi":"10.47743/saeb-2021-0024","DOIUrl":"https://doi.org/10.47743/saeb-2021-0024","url":null,"abstract":"This study uses threshold cointegration technique to ascertain the relationship between United States (US) economic policy uncertainty (EPU) and monetary policy rate (MPR) of each of the four African countries, namely Egypt, Ghana, Namibia and South Africa using monthly data from March 1998 to April 2020. The impact of US EPU on MPR of each country is assessed by examining the linear cointegration, asymmetric cointegration and causal relationships in the frequency domain between the US EPU and MPR of each African country. The findings provide evidence of long-run threshold cointegration and the adjustment mechanisms towards long-run equilibrium are asymmetric in the short run for the MPR models for Ghana, Namibia and South Africa in the M-TAR specification except for Egypt’s MPR model which does not provide evidence of asymmetric adjustment towards the equilibrium position. The bivariate analysis performed in the spectral frequency domain suggests unidirectional causality between US EPU and MPR of each country and that, the US EPU influences the MPR of each country in the long run. The findings provide important guidelines to monetary policy reviewers to take policy stance that would stimulate economic growth amid US policy uncertainties.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44089957","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}
Celeste Jiménez de Madariaga, Juan José García del Hoyo
{"title":"Public Funding of Research into Ethnological Activities in Andalusia (Spain): Boosting the Academic Career of Researchers","authors":"Celeste Jiménez de Madariaga, Juan José García del Hoyo","doi":"10.47743/saeb-2021-0029","DOIUrl":"https://doi.org/10.47743/saeb-2021-0029","url":null,"abstract":"The advent of democracy in Spain and the establishment of the different autonomous communities marked the beginning of a process to transfer political, economic and other competences over Culture and Cultural Heritage. Following its creation in 1984, the Ministry of Culture of the Andalusian Autonomous Government incorporated a Directorate-General for Cultural Assets into its organisational structure and embarked on an ambitious programme of actions to support Andalusian historical heritage, including creation of a management structure, enactment of a specific heritage law and budget allocations for protection tasks. From the outset, a type of heritage little known until then emerged: ethnological heritage. Dynamic actions were also promoted to fund research into this area, including grants for ethnological activities, financing for publications and funding for ethnological symposiums.\u0000This paper analyses the different ethnological activities carried out and their funding, and assesses the extent to which this investment favoured the professional development of teaching staff in the field of Social Anthropology in Andalusia, specifying the marginal effects and differentiating them according to gender and university size using binary choice models (Logit).","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43010819","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":"Determining the Return Volatility of Major Stock Markets Before and During the COVID-19 Pandemic by Applying the EGARCH Model","authors":"Letife Özdemir, Ercan Ozen, S. Grima, I. Romānova","doi":"10.47743/saeb-2021-0022","DOIUrl":"https://doi.org/10.47743/saeb-2021-0022","url":null,"abstract":"With this study, we aim to determine the effect of the Covid-19 pandemic on the return volatility of the DJI, the DAX, the FTSE100 and the CAC40 stock indexes. We take return volatility between 1st January 2019 and 17th July 2020 and split it into two separate periods - before the Covid-19 pandemic outbreak and the first wave of the ‘In-Pandemic’ period. Only the so-called first wave of the pandemic was chosen to avoid the influence of knowledge of possible vaccines and antiviral solutions. Data were analysed by using the exponential GARCH (EGARCH) model. Findings show excessive volatility in the major stock markets with short volatility persistence and the presence of leverage in returns during the first wave of the Covid-19 pandemic outbreak. Moreover, during the pandemic period, positive shocks have been observed to have a greater effect than negative socks on the stock index return volatility.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44482514","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}
C. Spulbar, M. Ehsanifar, Ramona Birau, Arezoo Babaie, Daniel Iulius Doagă
{"title":"Advanced empirical research based on structural equation modeling (SEM) regarding the impact of tax revenue on GDP dynamics at EU-28 level","authors":"C. Spulbar, M. Ehsanifar, Ramona Birau, Arezoo Babaie, Daniel Iulius Doagă","doi":"10.47743/SAEB-2021-0017","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0017","url":null,"abstract":"The main objective of this empirical study is to investigate the impact of tax revenue on GDP dynamics at EU-28 level based on structural equation modeling (SEM). We applied structural equation modeling (SEM) which represents a multivariate statistical analysis technique used especially for analyzing structural relationships between measured variables and latent structures. Selected taxes are the following: environmental taxes, indirect taxes, social contributions, taxes on capital, taxes on labour, taxes on property, and direct taxes. The sample period includes a long time horizon during 2005-2017 for each member states of EU-28. Our empirical findings revealed the level of taxation exhibits an increased influence on GDP dynamics in case of EU-28 member states.JEL Codes - C3; E62; O47; O52","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"285-307"},"PeriodicalIF":0.6,"publicationDate":"2021-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46028630","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}