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THE IMPACT OF TECHNOLOGICAL PROGRESS ON THE REAL SECTOR IN SUB-SAHARAN AFRICA 技术进步对撒哈拉以南非洲实体部门的影响
IF 1
Global Economy Journal Pub Date : 2024-07-25 DOI: 10.1142/s2194565924500027
Akinlo Taiwo
{"title":"THE IMPACT OF TECHNOLOGICAL PROGRESS ON THE REAL SECTOR IN SUB-SAHARAN AFRICA","authors":"Akinlo Taiwo","doi":"10.1142/s2194565924500027","DOIUrl":"https://doi.org/10.1142/s2194565924500027","url":null,"abstract":"This study aimed to investigate the relationship between information technology and the real sector in sub-Saharan Africa during the period 1995–2019. The study proxied the real sector by industrial value-added, agriculture value-added and total factor productivity, while technological progress is proxied by fixed telephone, mobile phone and internet penetration. To achieve the objective of this study, dynamic models were estimated. The study found that the fixed telephone enhances industrial value-added and total factor productivity, while the mobile phone promotes all the proxies of the real sector. The study found that the internet does not contribute to industrial value-added or agriculture value-added, but it enhances total factor productivity. Sub-Saharan African countries can further benefit from technological advancement by providing infrastructure facilities.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2024-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141804811","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
NEWS AND INFORMATION RIGIDITY: FURTHER EVIDENCE FROM GDP GROWTH FORECASTS 新闻与信息刚性：GDP 增长预测的进一步证据
IF 1
Global Economy Journal Pub Date : 2024-07-16 DOI: 10.1142/s2194565924500039
Fazlul Miah
{"title":"NEWS AND INFORMATION RIGIDITY: FURTHER EVIDENCE FROM GDP GROWTH FORECASTS","authors":"Fazlul Miah","doi":"10.1142/s2194565924500039","DOIUrl":"https://doi.org/10.1142/s2194565924500039","url":null,"abstract":"The study investigates the existence and the extent of information rigidity in gross domestic product (GDP) growth forecasts among 25 developed and 18 developing economies during 2002–2017 period utilizing a survey dataset never explored before on this issue. In general, the study finds ample evidence of information rigidity. However, it is not as common and as severe as it is in earlier studies. Our study also finds ample evidence of overreaction to new information. Information rigidity is present during the recession period for the developed countries, and we find some evidence of information gathering picking up during the recession period. Overall, we notice less forecast rigidity or inefficiency in our study compared to some earlier studies. Our multi-country test results show that forecast revisions depend on both own country and cross-country lagged revisions. In general, forecast revisions of developed economies, especially USA, prompt revisions in other developed and developing economies. Similarly, some developing countries’ forecast revisions prompt revisions in other developed and developing countries although at smaller magnitudes. Therefore, we confirm from earlier studies that one source of forecast rigidity is not to incorporate overseas events in forecast revisions quickly and completely.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2024-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141643426","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 DEVELOPMENT OF GLOBAL PUBLIC GOODS RESEARCH: A BIBLIOMETRIC ANALYSIS 全球公共产品研究的发展:文献计量分析
IF 0.7
Global Economy Journal Pub Date : 2023-08-02 DOI: 10.1142/s219456592350015x
Nina Ponikvar, Alan Velić, K. Zajc Kejžar
{"title":"THE DEVELOPMENT OF GLOBAL PUBLIC GOODS RESEARCH: A BIBLIOMETRIC ANALYSIS","authors":"Nina Ponikvar, Alan Velić, K. Zajc Kejžar","doi":"10.1142/s219456592350015x","DOIUrl":"https://doi.org/10.1142/s219456592350015x","url":null,"abstract":"Global public goods (GPGs) have been moving to the focus of discussion in international organisations due to globalisation, deepening economic integration, and technological advancements. We provide an overview of the research field of GPGs by conducting a bibliometric analysis for the period from 1993 to 2021. The increasing number of publications and citations of articles dealing with GPGs in the Web of Science is particularly noteworthy in the last decade. Publications on GPGs related to climate change experienced the largest relative growth. Analysis of the co-occurrence networks on authors’ keywords revealed that the focus of GPG research shifted between the 1993–2008 and 2009–2021 subperiods. In the latter period, our results show that sustainable development and the use of GPGs are interconnected and that the need for global governance related to GPGs is increasingly recognised in the literature. Several interrelated challenges of today’s world, related to environmental, technological, health, (cyber)security, economic, and geopolitical transformations have created the need for a new approach to GPGs.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73920204","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 ECONOMY IS NOT FLAT: THE TECHNOLOGY GRADIENT IN THE MASS MARKET ECONOMY 经济不是平坦的:大众市场经济中的技术梯度
Global Economy Journal Pub Date : 2023-05-18 DOI: 10.1142/s2194565923500112
DAVID MAYER-FOULKES, KURT A. HAFNER
{"title":"THE ECONOMY IS NOT FLAT: THE TECHNOLOGY GRADIENT IN THE MASS MARKET ECONOMY","authors":"DAVID MAYER-FOULKES, KURT A. HAFNER","doi":"10.1142/s2194565923500112","DOIUrl":"https://doi.org/10.1142/s2194565923500112","url":null,"abstract":"In an industrial market economy, the interaction between monopolistic and competitive sectors results in within-country productivity differences, inequality and inefficiency. We demonstrate this using a two-sector mass market economy model. The monopolistic sector represents large-scale, mass production and is associated with innovation and market power, while the competitive sector represents small-scale production and engages instead in technological absorption. The endogenous dynamics of technological change between the two sectors generate a steady state technology gradient, with the competitive sector lagging behind. This technology gradient is a key endogenous feature of the industrial market economy, associated with economic growth, that generates inequality and inefficiency. Inequality is generated in two ways: innovation profits are concentrated among a few owners of large-scale innovation, while economy-wide wage levels reflect the lagging small-scale technological level. The model shows there are innovative-distributive policies that can increase efficiency in production, innovation, and absorption, and restore income equality, increasing wages and reducing profits. A cointegration and weak exogeneity panel study of the US states between 1997 and 2011 corroborates that the large-scale sector drives aggregate employment, wages and inequality, while top income inequality makes the technology gradient steeper.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135717806","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 IMPACTS OF GLOBAL ECONOMIC SANCTIONS ON CORRUPTION: A GLOBAL ANALYSIS 全球经济制裁对腐败的影响:全球分析
IF 0.7
Global Economy Journal Pub Date : 2023-05-04 DOI: 10.1142/s2194565923500136
Hoa Mai Thi Tran, MY HA Nguyen, H. Le
{"title":"THE IMPACTS OF GLOBAL ECONOMIC SANCTIONS ON CORRUPTION: A GLOBAL ANALYSIS","authors":"Hoa Mai Thi Tran, MY HA Nguyen, H. Le","doi":"10.1142/s2194565923500136","DOIUrl":"https://doi.org/10.1142/s2194565923500136","url":null,"abstract":"This paper investigates the influences of global economic sanctions on corruption by using the structural gravity model for 148 sanctioned countries (108 developing countries and 40 developed countries) during the 1995–2018 period. We consider various forms of sanction, including arms, military, trade, finance, travel, and others. The results reveal that the imposition of sanctions, especially arm, financial, travel, and other sanctions have a significantly negative effect on the prevalence of corruption of target countries. The effects are also largely heterogeneous across sanctioned countries in terms of their economic development. Furthermore, the properties of the institutional quality of the sanctioned state critically affect the relationship between global sanctions and national corruption. Particularly, the well-developed institutional quality helps target countries address the consequences of global sanctions on national corruption. The empirical findings of this study are expected to provide vital insightful lessons for economists and policymakers in the target countries in combating the corruption pervasiveness.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90289101","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
ANALYZING INTERNATIONAL CAPITAL FLOWS TO DEVELOPING AND EMERGING MARKET COUNTRIES USING A TWO-COUNTRY DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM (DSGE) MODEL UNDER ASYMMETRIC INFORMATION STRUCTURE 利用非对称信息结构下的两国动态随机一般均衡模型分析国际资本流向发展中国家和新兴市场国家
IF 0.7
Global Economy Journal Pub Date : 2023-04-29 DOI: 10.1142/s2194565923500094
Roholla Mohabatpoor, A. Googerdchian, K. Azarbayjani, Azim Nazari
{"title":"ANALYZING INTERNATIONAL CAPITAL FLOWS TO DEVELOPING AND EMERGING MARKET COUNTRIES USING A TWO-COUNTRY DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM (DSGE) MODEL UNDER ASYMMETRIC INFORMATION STRUCTURE","authors":"Roholla Mohabatpoor, A. Googerdchian, K. Azarbayjani, Azim Nazari","doi":"10.1142/s2194565923500094","DOIUrl":"https://doi.org/10.1142/s2194565923500094","url":null,"abstract":"In this study, in order to investigate the different forms of capital flow between developing and developed countries in the steady state, a two-country dynamic stochastic general equilibrium (DSGE) model, under asymmetric information, is developed. For simulating countries, the parameters of previous studies are used. The results showed that international risk-sharing can explain the Lucas paradox. In both symmetric and asymmetric information structures, net foreign assets in the forms of stocks in steady state are negative for developing countries. In other words, in the steady state, capital exits from the developing country in the form of bonds and enters these countries in the form of stocks. Besides, net capital inflows in the form of stocks and net outflows of capital in the form of bonds in the present model under asymmetric information are larger than that under symmetric information structure. Furthermore, impulse function results show that the two countries are highly correlated. So, the occurrence of a shock in one country changes the production and consumption of another country. But the impact of the shock on macro variables in the country itself is greater than in another.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73992259","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, FINANCIAL INCLUSION AND INFORMALITY: NEW INTERNATIONAL EVIDENCE 金融发展、普惠金融和非正式性:新的国际证据
IF 0.7
Global Economy Journal Pub Date : 2023-04-29 DOI: 10.1142/s2194565923500070
MARíA Paula Vargas, Erick Lahura
{"title":"FINANCIAL DEVELOPMENT, FINANCIAL INCLUSION AND INFORMALITY: NEW INTERNATIONAL EVIDENCE","authors":"MARíA Paula Vargas, Erick Lahura","doi":"10.1142/s2194565923500070","DOIUrl":"https://doi.org/10.1142/s2194565923500070","url":null,"abstract":"This paper explores the empirical relationship between informality and several indicators of financial development (FD) and financial inclusion (FI). We exploit a panel of 152 countries with annual information between 1991 and 2017. Using panel cointegration techniques, we find evidence of a negative long-run relationship between informality and FD/FI for different groups of countries. Moreover, exogeneity tests indicate that some FD/FI indicators cause less informality. Specifically, we find that in developing countries FD reduces informality when measured as “financial credit” and “bank credit”, whereas FI reduces informality when measured as “number of bank accounts”. These results suggest that higher credit and more bank accounts have contributed to reducing informality in developing countries in the long run. Additionally, we find evidence of double causality between informality and other FD/FI indicators in developing and Latin American countries.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87199559","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
OIL PRICES, EXCHANGE RATES, AND THE TRADE BALANCE: EVIDENCE FROM KAZAKHSTAN AND RUSSIA 油价、汇率和贸易平衡:来自哈萨克斯坦和俄罗斯的证据
IF 0.7
Global Economy Journal Pub Date : 2023-04-29 DOI: 10.1142/s2194565923500148
SIMEON NANOVSKY
{"title":"OIL PRICES, EXCHANGE RATES, AND THE TRADE BALANCE: EVIDENCE FROM KAZAKHSTAN AND RUSSIA","authors":"SIMEON NANOVSKY","doi":"10.1142/s2194565923500148","DOIUrl":"https://doi.org/10.1142/s2194565923500148","url":null,"abstract":"<p>The original objective of this paper is to study the impact of the exchange rate on the trade balance for Kazakhstan and Russia. Baseline empirical results indicate that an exchange rate depreciation actually decreases exports and deteriorates the trade balance for these countries; this is the opposite of the traditional theory of the J-curve and Marshall–Lerner condition. The paper then explores why these major oil exporters do not conform to the theory. It argues that it is the oil price that affects both the exchange rate and the trade balance, thereby masking the true impact of the exchange rate on the trade balance. More formally, the paper augments the traditional theory to take into account the behavior of oil prices in the export and trade balance equations. The augmented theory posits that a decrease in the oil price leads to a real exchange rate depreciation and a decline in exports, thereby creating the positive correlation seen in the baseline results. In accordance with the augmented theory, the regression results suffer from omitted variable bias; when the oil price is taken into account, the results again support the theory.</p>","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138537328","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
ANALYZING THE PROFITABILITY OF TOP-RATED BANKS IN THE WORLD IN LIGHT OF COVID-19 分析新型冠状病毒感染症(COVID-19)下世界顶级银行的盈利能力
IF 0.7
Global Economy Journal Pub Date : 2023-04-28 DOI: 10.1142/s2194565923500033
Indranarain Ramlall
{"title":"ANALYZING THE PROFITABILITY OF TOP-RATED BANKS IN THE WORLD IN LIGHT OF COVID-19","authors":"Indranarain Ramlall","doi":"10.1142/s2194565923500033","DOIUrl":"https://doi.org/10.1142/s2194565923500033","url":null,"abstract":"We analyze the impact of COVID-19 on the profitability of top-rated banks in the world using a comprehensive list of bank-specific ratios under post-lasso regressions based on GLS, FGLS and WLS techniques. While size and loans do not materially impound on profitability, a squeeze in the positive impact of asset utilization for all profitability metrics is conspicuously noted. COVID-19 induced declines in the negative impact of total impairment charges and provisions are noted for ROA and NIM while COVID-19-induced hike in the cost-to-income ratio is found for ROE. Findings also demonstrate that policy responses initiated during the crisis did not boost the profits of banks. From a policy perspective, sharing economy could manifest as a contemplated business model for banks, should the world relapse into another form of pandemic-related crisis.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83032062","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
ADOPTION OF GREEN FINANCING STRATEGIES WITH RENEWABLE ENERGY RESOURCES FOR GLOBAL ECONOMIC GROWTH 采用可再生能源绿色融资战略促进全球经济增长
IF 0.7
Global Economy Journal Pub Date : 2023-04-27 DOI: 10.1142/s2194565923500045
Gopi Selvapandian, Praveen Paul Jeyapaul, Balamurugan Gunabalan
{"title":"ADOPTION OF GREEN FINANCING STRATEGIES WITH RENEWABLE ENERGY RESOURCES FOR GLOBAL ECONOMIC GROWTH","authors":"Gopi Selvapandian, Praveen Paul Jeyapaul, Balamurugan Gunabalan","doi":"10.1142/s2194565923500045","DOIUrl":"https://doi.org/10.1142/s2194565923500045","url":null,"abstract":"Green financing is an emergent technology in recent days that supports the nature of environment with reduced carbon emissions. Also, the renewable energy sources or green resources are the most suitable options for improving the economic growth and sustainability of environment. Recently, many industrial organizations over the world were able to provide support to the deployment of green energy projects because it is less harmful to the environment and increases the financial development of country. Therefore, this paper objects to analyze the major effects of green financial strategies for developing the green energy projects. Moreover, it discussed about the recent trends of adopting green projects for ensuring the sustainability of environment with increased energy utilization. In addition to that, it examines various challenges and risks that are associated to the deployment of green financing strategy. The long-term financing, associated risks in project development, minimized return values, and lack of capacity are the major risks of green financing management systems. According to the recent reports, it is stated that the government sectors have an increased responsibility for funding the green projects to support the environment nature. Nevertheless, some of the public and private sectors in different countries are motivating the green energy projects by providing the financial support to the short-term and medium-term organizations for ensuring the sustainability of environment.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76671388","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
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