Journal of Economics and Political Economy最新文献

{"title":"The determinants of the intermediate products export: The case of Switzerland","authors":"Emmanouil Karakostas","doi":"10.1453/JEPE.V8I3.2235","DOIUrl":"https://doi.org/10.1453/JEPE.V8I3.2235","url":null,"abstract":"Abstract. International trade relations are an important aspect of the international economy. The form and structure of international trade has changed in recent years and this fact deserves particular analysis. Global value chains are an significant objectivity in today's times. It is noteworthy that global supply (or value) chains are basically the production networks that span multiple countries, with at least one country importing inputs (intermediate goods) and exporting production (final goods). Many products in today's era consist of intermediate inputs from other countries. The proportion of intermediate goods that a country exports helps it to become a key trading partner. Value-added imports have such an essential role in the exports of countries that they ultimately determine the price of final goods. Moreover, intermediate goods have the characteristic of being shaped on the basis of their technological level. That is, an input can be labour-intensive or technology-intensive. Virtually any commodity can be considered an intermediary. There is no clear definition of intermediate goods. This point, of course, makes it difficult to identify those factors which determine the exports of intermediate goods. In this reality the exports of intermediate goods are worthy of further research. The present study will attempt to investigate the determinants of intermediate goods exports using Switzerland as a case study. The methodology adopted is Linear Regression - Ordinary Least Squares (OLS). Keywords. Global Trade, Switzerland, Intermediate Product Exports, OLS. JEL. F10, F14, F40.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"326 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132784368","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 contribution of human capital to the economic development of Cameroon, 1980-2018","authors":"Nkwetenang Conelius Ngwolefack, S. B. Oumar","doi":"10.1453/JEPE.V8I2.2226","DOIUrl":"https://doi.org/10.1453/JEPE.V8I2.2226","url":null,"abstract":"Abstract. The paper examines the contribution of human capital to the economic development of Cameroon from 1980¬-2018. To achieve this objective, data were collected from World Bank Development Indicators, for Cameroon, covering the period of 1980-2018. The error correction mechanism model was used to analyse the data using STATA 14 econometric software package. The results show that human capital has a positive and significant relationship with economic development in Cameroon. The findings suggest that gross school enrolment and labour force participation had slowed down economic development in Cameroon. The study recommends that given a significant coefficient of human capital on economic development in Cameroon, the government should create an enabling environment to reinforce the implementation of gross school enrolment, health expenditure and labour force participation policies to accelerate the process of economic development in the country. Keywords. Asset, Education, Employment, Expenditure, Health. JEL. D39, H52, I15, I25, J21.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134233190","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":"Bank credit and transmission mechanisms of monetary policy in Uganda","authors":"Jimmy Alani","doi":"10.1453/JEPE.V8I2.2205","DOIUrl":"https://doi.org/10.1453/JEPE.V8I2.2205","url":null,"abstract":"Abstract. This paper examines the effect of monetary policy on bank credit in Uganda during the January 2008 to December 2017 period. By using macro level monthly data, it tests for the existence of monetary policy transmission channels, in particular the presence of bank credit channel in the economy of Uganda. This is done by showing that bank credit growth in Uganda is affected by monetary policy shocks. Before conducting data analysis, tight bank credit models were built with the view of making the analysis mimic the actual behavior of bank credit and the monetary policy transmission mechanism. Data used in the empirical analysis are from Bank of Uganda. Empirical analysis is conducted by using the generalized least squares (GLS) technique. The advantage with the GLS method is that it is generally more efficient because it eliminates both serial correlation and variance values that are not constant. The empirical results establish presence of the bank credit channel of the monetary policy transmission mechanism in Uganda. Secondly, the empirical tests conducted establish that the relationship between reserves and loans typically operates in the reverse way to that described in some economics textbooks. Similarly, the relationship between bank deposits and bank deposits is found in principle to operate only during the current month in the reverse way to that described in some economics textbooks. Thirdly, empirical tests conducted indicate that 1 percent increase in money supply (M2) is responsible for causing 2.2 percent monthly increase in bank deposits in Uganda during the sample period, ceteris paribus. Keywords. Financialization, Political economy, Financial regulation. JEL. C01, C10, G18, P16, P34.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133504373","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":"Financialization and political economy of financial regulation in Uganda","authors":"Jimmy Alani","doi":"10.1453/JEPE.V8I1.2178","DOIUrl":"https://doi.org/10.1453/JEPE.V8I1.2178","url":null,"abstract":"Firstly, in this present paper, empirical evidence obtained after employing generalized least squares technique on the relevant sample data for Uganda over the 1970 to 2016 period, shows that financialization had adverse effect on economic growth. Secondly, in Uganda during the sample period, deregulation (represented by exchange rate depreciation) enhanced financialization. Thirdly, financialization depressed investments in the country because a large fraction of investments could have been diverted away from the real sector to the financial sector. Fourthly, financialization had positive and significant effects on inflation, quantity of foreign exchange and balance of payments deficit. Lastly, empirical evidence indicates that financialization was as a result of increase in exchange rate and gold reserves, monetization of the economy, imports and movements in household disposable income relative to GDP. Results in the paper suggest the following recommendations: control of financialization through macro prudential financial regulation, reduction of balance of payments deficit, undertaking more investments in directly productive areas and control of the relative movements in disposable household consumption relative to GDP. Keywords. Financialization, Political economy, Financial regulation. JEL. C01, C10, G18, P16, P34.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125193601","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":"Are they willing to participate? A review on behavioral economics approach to voters turnout","authors":"M. R. Sarkandiz","doi":"10.1453/JEPE.V8I1.2169","DOIUrl":"https://doi.org/10.1453/JEPE.V8I1.2169","url":null,"abstract":"This article investigates the fundamental factors influencing the rate and manner of Electoral participation with an economic model-based approach. In this study, the structural parameters affecting people's decision making are divided into two categories. The first category includes general topics such as economic and livelihood status, cultural factors and, also, psychological variables. In this section, given that voters are analyzed within the context of consumer behavior theory, inflation and unemployment are considered as the most important economic factors. The second group of factors focuses more on the type of voting, with emphasis on government performance. Since the incumbent government and its supportive voters are in a game with two Nash equilibrium, and also because the voters in most cases are retrospect, the government seeks to keep its position by a deliberate change in economic factors, especially inflation and unemployment rates. Finally, to better understand the issue, a hypothetical example is presented and analyzed in a developing country in the form of a state-owned populist employment plan. Keywords. Voters turnout, Behavioral economics, Bandwagon effect, Economic voters, Hyperbolic memory discount. JEL. A13, C70, D11.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"399 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114057937","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":"Towards an explanation of the Euro FX market reaction in the EU: A review of European integration during the EU crises","authors":"Bachar Fakhry","doi":"10.1453/JEPE.V8I1.2170","DOIUrl":"https://doi.org/10.1453/JEPE.V8I1.2170","url":null,"abstract":"We review market participants' actions and the EU afterthe introduction of the euro and during the crises period and Brexit process. The crucial factor is the feedback effect in the reactions of the market participants and the EU. The euro was introduced in a compromised monetary union agreement, essentially underlining the European integrative process issues that were highlighted by the euro crises. Hence, for this reason, it is hard to explain the euro crises without referencing the European integration theories. On the other hand, it is difficult to understate the behavioural factors, including greed and fear, in the full explanation of thecrises. At the heart of this research is the introduction of a new model of testing the stability of the market extending the variance bound test of (Fakhry & Richter, 2015) underpinned by a Markov Switching GARCH model. We analyse the stability of the Euro FX Market from 1st January 1999 to 31st December 2019. We found a mixture of over and under reactions defining the three sub-periods which given the Euro heuristic influencing both the market participants’ and EU’s views seem to be an acceptable result. Keywords. Behavioural Finance, EU Integration, Euro, Euro Crises, Long/Short Run, Market Stability. JEL. C51, D81, G01, G02, H77.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127620364","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":"AHP analysis of classifying and positioning the crucial influential factors of brand establishment in the semiconductor industry","authors":"A. Kingson, Wen-Hsiang Lai","doi":"10.1453/JEPE.V7I4.2128","DOIUrl":"https://doi.org/10.1453/JEPE.V7I4.2128","url":null,"abstract":"Abstract. This study categorizes the crucial influencing factors and positions them according to their importance in achieving the impact of semiconductor brand establishment on improving corporate performance and meeting customer needs. This study conducted an in-depth literature review that recognizes the crucial factors necessary for implementing influence in establishing a semiconductor brand. This study identifies five main variables and 17 subvariables, including “Customer value”, “Brand equity”, “Brand loyalty”, “Brand orientation” and “Brand performance”, and provides experts’ suggestions. The positioning of 17 subvariables and 5 main variables representing crucial influential factors was performed using an analytical hierarchy process (AHP) technique per their relevance in crucial influential factor implementation. The results show that 5 main variables and 17 subvariables play a vital role in the successful implementationof the impact of establishing a semiconductor brand, and  “Customer value” has gained more weight compared to the other main variables. ‘Addressing problem’, ‘Superior value’ and ‘New product development’ are more important than are other subvariables. The limitation of this study is that, first, although this study consults experts from the semiconductor industry and academia of various countries, their opinions are only relevant to their regions. Second, the development of this model only applies to the semiconductor industry. Third, only expert opinion variables were used for pairwise comparisons. This study compensates for the lack of key factors in establishing a semiconductor brand, using the literature and expert questionnaires to obtain the weight of each factor through the AHP method and ranking them in order of importance. It examines the overall situation of the practice of building brand comprehension, missing no factor, understanding where the key points areand using them effectively. This research advances the implementation focus of the key factors that affect the establishment of semiconductor brands. According to the results of the literature review, this study is the first on implementing key factors affecting the establishment of a semiconductor brand. This study attempts to fill this gap. Keywords. Crucial influential factors, Establishing semiconductor brand, AHP. JEL. C44, M21, M31, D81, L29.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116865828","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":"From optimism to pessimism: The stability of the Euro FX market in the short and long run","authors":"Bachar Fakhry","doi":"10.1453/JEPE.V7I4.2149","DOIUrl":"https://doi.org/10.1453/JEPE.V7I4.2149","url":null,"abstract":"Abstract. We review the EU’s actions over the euro’s lifetime; since its introduction thru to the populist uprising of the late 2010s. The euro was introduced on a wave of optimism throughout the EU, although based on a compromised monetary agreement. Essentially, underlining the crisis and movement from optimism to pessimism in the EU integration road. Thus, it is hard to analyse the euro without reviewing the theories influencing this road. Furthermore, we analyse the long and short-run market stability of the euro FX market using the variance bound model of (Fakhry & Richter, 2018). However, it is difficult to explain the market analysis without referencing behavioural finance. Thus we use key elements of behavioural finance, such as the opposite scale behaviours of greed and fear, to fully explain the timeline analysis of the euro FX market stability in both the long and short runs. At first glance, the result was unexpected due to the critical factor that the market was significantly volatile in the long run; despite conventional wisdom dictating that in the long-run, the financial markets are generally stable. One possible explanation is that the market participants are fearful of the long-run future of the Euro. Keywords. Behavioural Finance, EU Integration, Euro, Euro Crises, Long/Short Run, Market Stability. JEL. C58, D81, G01, G02, H77.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"153 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116731152","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 growth and development analytical controversies in economic science: A reassessment for the post-Covid-19 era","authors":"Charis Vlados","doi":"10.1453/JEPE.V7I4.2140","DOIUrl":"https://doi.org/10.1453/JEPE.V7I4.2140","url":null,"abstract":"Abstract. A repositioning of the theoretical instruments of development and growth in the context of economics and political economy that we have at our disposal to date seems necessary, especially after the structural transformation caused by the COVID-19 socio-economic and pandemic crisis. Specifically, the overcoming of the COVID-19 era of crisis seems to depend on how we will manage to re-perceive the theory of economic development and apply its proposals in new economic policies, in global terms. In this context, this article examines whether the conceptual and “therapeutic” foundations of development economics have today the necessary potential to cope with structural changes caused by the ongoing global socio-economic crisis. We assess the current debate in the literature of “economic development versus economic growth” and conclude that a new, comprehensive and evolutionary, orientation to understanding economic development seems necessary to respond to new global challenges for the post-COVID-19 era. We propose a multidisciplinary and evolutionary conceptual direction that suggests the multi-angle understanding of diverse historical configurations. We argue that all socio-economic mutations accelerated by the current pandemic crisis have systemic and evolutionary content and effects and cannot be reliably perceived as mere coincidences of “quantities” and growth “performances.” In this way, we can only disagree with any static and linear approach to the current crisis that directly or indirectly leads to reproducing the rigid enclosure of the analysis in partial specializations of economics. On the contrary, we counter-propose a theoretical response of evolutionary type to assess the contemporary theory of economic development and the political economy in the post-COVID-19 era as an interdisciplinary crossroads for all socio-economic sciences. Keywords. International political economy, Economic science, Economic development, Economic growth, Economic development versus economic growth, Social science, Socio-economic crisis, Post-COVID-19 era, Evolutionary economics. JEL. O10, O40, B52.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127873396","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 gravity model for international trade and conflict","authors":"Youssef Oukhallou","doi":"10.1453/JEPE.V7I3.2094","DOIUrl":"https://doi.org/10.1453/JEPE.V7I3.2094","url":null,"abstract":"Abstract. This paper investigates the nexus between conflict and trade using data from 77 countries. For this purpose, it puts forward a gravity model that is augmented with interstate conflict casualties. In order to overcome statistical problems related to heteroscedasticity and the omission of the extensive margin (the zero observations), the gravity model is estimated using a Poisson Pseudo-Maximum Likelihood method (PPML). The model suggests a downward impact on trade that affects all sides of the conflict, whether they suffer casualties or deal them. However, said impact remains small, which hints that even before direct conflicts occur, the involved countries are less likely to have significant trade flows. Keywords. International trade, Armed conflict, Gravity model. JEL. C23, F14, F51.","PeriodicalId":432468,"journal":{"name":"Journal of Economics and Political Economy","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122044562","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}