{"title":"Unemployment in the WAEMU Countries: A Cross-Sectional Data Approach","authors":"Mohamed Niaré, Ousmane Mariko","doi":"10.22440/wjae.9.2.1","DOIUrl":"https://doi.org/10.22440/wjae.9.2.1","url":null,"abstract":"The aim of this article is to conduct an empirical evaluation of the microeconomic determinants of unemployment in the West African Economic and Monetary Union (WAEMU), controlling for inactivity. A multinomial logistic analysis has been conducted by using the Harmonized Survey of Household Living Conditions (2019) survey. Our results show that being female, single, young, disabled, and living in urban increases the risk of unemployment and inactivity. Furthermore, despite a higher incidence of unemployment among educated individuals, they are less likely to be inactive compared to those with no education. We also note that women with a university education are less affected by inactivity than men with the same level of education but remain more exposed to unemployment. In addition, age has a very limited influence on unemployment among men, unlike women, where it has a very significant amplifying effect. In addition, the negative effect of university education on unemployment is more pronounced in rural areas than in big cities. Finally, disability does not determine rural unemployment, unlike in urban areas, where it exacerbates it.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"443 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139243684","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":"Do Social Isolation and Loneliness Affect Healthcare Spending and Utilization in Japan?","authors":"Üsame Furkan Yüksel","doi":"10.22440/wjae.9.2.3","DOIUrl":"https://doi.org/10.22440/wjae.9.2.3","url":null,"abstract":"Social isolation and loneliness are associated with worse health outcomes, and there is a growing literature that studies the economic cost of these conditions in terms of increased healthcare spending and utilization. However, a handful of existing studies mostly focus on Western countries. This article analyses the issue in the case of Japan using the Japanese Study of Aging and Retirement (JSTAR) dataset with the help of generalized linear and probit models. The results show that social isolation is associated with reduced healthcare spending, while loneliness does not have any statistically significant effect. Neither social isolation (living alone) nor loneliness has a statistically significant effect on healthcare utilization; that is, these measures are not associated with increased or decreased inpatient or outpatient visits. Therefore, care should be taken when launching social programs to tackle social isolation and loneliness to reduce healthcare spending and utilization because these two conditions might not be associated with increased healthcare spending universally.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139242721","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":"NEET Status and Mental Health Disorders: Evidence from a Developing Country","authors":"D. Karaoğlan, Pinar Tat, Nazire Beğen","doi":"10.22440/wjae.9.2.4","DOIUrl":"https://doi.org/10.22440/wjae.9.2.4","url":null,"abstract":"The extant literature defines the young individuals engaged in neither employment nor education or training program as “NEET”. This study investigates the relationship between being NEET and the probability of having mental health disorders among youth in Turkey. We conducted a bivariate probit model with selection by utilizing data from the Turkish Health Surveys (THS) of 2014, 2016, and 2019. The results indicate that the probability of being NEET increases with age, being women and married. In addition, the parents' education and wealth statutes are found to be important determinants of a young individual’s NEET status. The value of the correlation coefficient (1.69) in the probit model indicates that there is a positive association between being NEET and experiencing mental health disorders and that some unobserved factors (i.e., access to mental health services, psychosocial support, cultural factors) are positively related to experiencing mental health disorders. We conclude that the circumstances causing young people to be unemployed also tend to make them have mental health disorders, but unemployed NEET with higher levels of education are less likely to experience mental health disorders.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"13 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139245130","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":"Underutilisation of Labour: Underemployment and Skills-Mismatch in Turkey","authors":"Caner Özdemir, Zeynep Başak","doi":"10.22440/wjae.9.2.2","DOIUrl":"https://doi.org/10.22440/wjae.9.2.2","url":null,"abstract":"This paper aims to reveal the extent and characteristics of under and inadequate forms of employment in Turkey. Our descriptive analysis using the Household Labour Force Surveys of 2014-2021 shows that despite not being unemployed, many people do not work in their full capacity or cannot enter the workforce, although they are willing to do so. In addition, the size of these groups varies due to age, sex and education level. To better understand the demographic and socioeconomic determinants of skill-related underemployment, the incidence and evolution of education-occupation mismatch are investigated using the Income and Living Conditions Survey (SILC) of 2016-2021. The results of the multinomial logit models using SILC-2021 indicate that age and education effects are similar for both sexes, but marital status, number of kids and household size have diverging effects for men and women. Moreover, the effects of household income, excluding the respondents’ income, social transfers and social security registration in the household confirm the reservation income hypothesis.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139242602","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":"Financial Globalization and Growth: The Impacts of Financial Development and Governance","authors":"F. Taşdemir","doi":"10.22440/wjae.9.1.5","DOIUrl":"https://doi.org/10.22440/wjae.9.1.5","url":null,"abstract":"The conventional theory suggests that financial globalization encourages growth. The empirical literature, however, does not give convincing support for the theoretical benefits of financial globalization. This paper investigates the relationship between financial globalization and growth in a sample of 33 emerging market economies during the 1995-2019 period by considering both de facto and de jure measures of financial globalization. We first study the direct effect of financial globalization on growth. Then, we focus on whether the growth impact of financial globalization is conditional on the level of financial development and governance. Our two-step system GMM estimation results suggest that both financial globalization measures tend to lower growth, albeit this negative relationship mitigates after the global financial crisis. Our empirical findings also indicate that the negative growth impact of financial globalization diminishes with the high levels of financial development and governance. The results indicate that investing and upgrading the collateral environment cause higher growth and mitigate the negative growth impact of financial globalization.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"234 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122529150","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 Influence of Bank Performance, Market Condition and Economic Growth on Non-Performing Loans","authors":"Candida Ferreira","doi":"10.22440/wjae.9.1.4","DOIUrl":"https://doi.org/10.22440/wjae.9.1.4","url":null,"abstract":"The paper contributes to the literature on the determinants of non-performing loans by applying panel fixed effects and dynamic Generalised Method of Moments (GMM) estimations to a relatively large panel of 80 countries over the period 1999-2017. The paper considers three categories of explanatory variables; bank-level, industry-level, and macroeconomic-level. The bank-level variables highlight the relevance of bank profitability and efficiency to avoid non-performing loans. The industry-level variables, for the entire period and particularly after the onset of the Global Financial Crisis (years 2009-2017), show that bank market concentration promoted non-performing loans, while bank market competition and bank stability did not contribute to increasing non-performing loans. The macroeconomic-level variable, real per capita gross domestic product, provides very convincing evidence that promoting economic growth looks like the best way to avoid non-performing loans. Analyses with different sub-samples show that the determinants of non-performing loans are not particularly dependent on the level of income of the country.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"155 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120971854","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":"Analysis of Dynamic Connectedness among Sovereign CDS Premia","authors":"Özcan Ceylan","doi":"10.22440/wjae.9.1.2","DOIUrl":"https://doi.org/10.22440/wjae.9.1.2","url":null,"abstract":"This paper studies the dynamics of spillovers between sovereign Credit Default Swap (CDS) premia of nine countries, including Turkey, Russia, Brazil, South Africa, China, Germany, France, Italy and Spain. Weekly CDS data spans from July 2012 through June 2022. Adopting the methodology developed by Diebold & Yılmaz (2014), several connectedness measures are computed based on generalized forecast error variance decompositions generated through a time-varying parameter vector autoregressive model (TVP-VAR). The results show that the network’s connectedness level increased significantly during the COVID-19 outbreak and the Ukrainian war. Higher connectedness levels among European markets and developing countries are observed. Especially the connectedness levels between South Africa and other developing countries are remarkably high. The results reveal both fundamental-based and pure contagion channels and provide insight into the dynamic network of risk spillovers. A thorough understanding of international risk transmission channels is crucial for policy-makers and global investors regarding risk mitigation.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126628801","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":"Interrelationships between Tourist Arrivals, Exchange Rate, Inflation, and Economic Growth: Empirical Evidence for Türkiye","authors":"Gülsüm Akarsu","doi":"10.22440/wjae.9.1.3","DOIUrl":"https://doi.org/10.22440/wjae.9.1.3","url":null,"abstract":"Touristic activities have become essential for sustainable development associated with countries' prosperity and mobility opportunities. These activities may be affected by the exchange rate, economic growth, and general price movements, and these variables may also be affected by tourism activities. This study analyzes the relationships between tourist arrivals, economic growth, inflation, and exchange rate for Türkiye taking the country's geopolitical risk as exogenous, using monthly data over 2008-2020 and a Vector Error Correction modelling approach. The results indicate favorable short-run and long-run impacts of tourist arrivals on economic growth and confirm the validity of the tourism-led growth hypothesis for Türkiye. Toda Yamamoto causality tests show unidirectional causality from economic growth to inflation and exchange rate fluctuations and from the exchange rate to inflation. Therefore, results do not show evidence of tourism’s Dutch disease effect. Improving the quality of tourism-related services and marketing is vital for revenue increase and, thus, economic growth.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133756346","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":"Combined Forecasts of Intermittent Demand for Stock-keeping Units (SKUs)","authors":"Aysun Kapucugil İkiz, Gizem Halil Utma","doi":"10.22440/wjae.9.1.1","DOIUrl":"https://doi.org/10.22440/wjae.9.1.1","url":null,"abstract":"Effective inventory management requires accurate forecasts for stock-keeping units (SKUs), especially for the strategic ones for companies’ operations and after-sales services like providing spare parts. Forecasting is a challenging task for such SKUs as they usually have intermittent demand (ID) patterns, consisting of many periods with zero demand and infrequent demand arrivals. Given the highly uncertain nature of ID for SKUs, this study developed a methodological framework for combining statistical and judgmental forecasts and assessed the performance of the proposed framework by using accuracy and bias measures. The forecasting process has several steps, including data preparation, data categorization based on demand patterns, generating statistical and judgmental forecasts, combining statistical and judgmental forecasts, and evaluating the forecast performance. These steps were illustrated on a real-world dataset that contains monthly customer demand data for after-sales spare parts. Results showed that combination is the best method for the majority of SKUs. This paper contributes to the limited literature by addressing the gap between the combined and ID forecasts. The proposed framework gives practitioners and researchers a comprehensive overview to help them make more accurate forecasts while encouraging the use of simple but structured approaches.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"262 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115830316","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":"Internalizing Environmental Externalities and the Coase Theorem","authors":"N. Schneider","doi":"10.22440/wjae.8.2.4","DOIUrl":"https://doi.org/10.22440/wjae.8.2.4","url":null,"abstract":"This article offers a brief review of the Coase Theorem in the context of policy planning. This concept first revolutionized the regulatory approach to the environmental problem because it advocated how bargaining mechanisms correct externalities without any pre-condition on entitlement assignment. However, given a set of non-negligible constraints imposed by the empirics i.e., non-null transaction costs and asymmetric income effects, questions remain on how decentralized decision-making processes, i.e., private market mechanisms, can ensure Pareto-efficiency in practice without undermining the local validation of the theorem. Starting from major theoretical underpinnings, this brief highlights that active regulation of externalities by governments is relevant under reasonable conditions. Far from being empirically inadequate, Coase’s transaction-cost-free model must be seen as a demonstration of how transaction costs cause substantial distortions and inefficiencies when excluded from environmental policy frameworks. Thus, Coasian bargaining and Pigouvian taxation may be complements rather than substitutes. Active public environmental intervention could act as a backup system capable of correcting inefficiencies when market mechanisms and private negotiations fail to do so.","PeriodicalId":447082,"journal":{"name":"World Journal of Applied Economics","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129085305","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}