International Advances in Economic Research最新文献

A Note on Foreign Capital, Economic Growth, and Convergence: A Simple Model with Endogenous Growth 关于外国资本、经济增长和趋同的说明：内生增长的简单模型

IF 1.2

International Advances in Economic Research Pub Date : 2024-09-18 DOI: 10.1007/s11294-024-09914-0

Miguel D. Ramirez

{"title":"A Note on Foreign Capital, Economic Growth, and Convergence: A Simple Model with Endogenous Growth","authors":"Miguel D. Ramirez","doi":"10.1007/s11294-024-09914-0","DOIUrl":"https://doi.org/10.1007/s11294-024-09914-0","url":null,"abstract":"This paper examines the impact of foreign capital formation on economic growth in a simple modified model of endogenous growth. The model explicitly develops how proportional taxes on income can be used to finance government expenditures to attract foreign capital to the host nation. Another contribution of the model stems from showing how conditional convergence can be retained in the endogenous case via a hybrid model that includes foreign capital. The paper motivates the presentation of the model by discussing the potential positive (and negative) effects of inward foreign direct investment to developing economies and develops the supply and demand sides of the simple modified growth model. Also, the paper presents the transition dynamics towards the steady-state level of income under exogenous and endogenous growth and shows how conditional convergence can be retained in the hybrid model via a modified production function that converges asymptotically to the linear AK form, where A is a positive constant and K is physical capital. The paper suggests how the modified model can be used to motivate future empirical research, provided appropriate proxies are found for the variables and parameters of interest.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2024-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142260060","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

Modelling Loans to Non-Financial Corporations in the Eurozone: A Long-Memory Approach 欧元区非金融企业贷款建模：长期记忆法

IF 1.2

International Advances in Economic Research Pub Date : 2024-08-13 DOI: 10.1007/s11294-024-09909-x

Guglielmo Maria Caporale, Luis Alberiko Gil-Alana, Nicola Rubino, Inmaculada Vilchez

{"title":"Modelling Loans to Non-Financial Corporations in the Eurozone: A Long-Memory Approach","authors":"Guglielmo Maria Caporale, Luis Alberiko Gil-Alana, Nicola Rubino, Inmaculada Vilchez","doi":"10.1007/s11294-024-09909-x","DOIUrl":"https://doi.org/10.1007/s11294-024-09909-x","url":null,"abstract":"This paper uses fractional integration and cointegration methods to analyze the long-run relationship between loans to non-financial corporations, real gross domestic product, real gross fixed capital formation, the cost of borrowing differential between long- and short-term rates, and a proxy for the cost of debt, securities, and equity issuance. The analysis includes four Eurozone countries, namely Germany, France, Italy, and Spain, and spans the most recent decades. More precisely, fractional integration and cointegration models are estimated to investigate the persistence of the series as well as their long-run relationships and short-run dynamics using both unrestricted and restricted specifications. The univariate results are heterogeneous, the highest degrees of integration being found in the case of loans to non-financial corporations, whilst the multivariate ones provide evidence of a single fractional cointegration vector as well as of a lower adjustment speed to the long-run equilibrium compared to previous studies in all four countries. Moreover, both the short- and long-run response of loans to exogenous shocks to real gross domestic product and the cost of borrowing differentials differs across countries because of country-specific factors.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2024-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142223439","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

Manufacturing and Economic Growth in Selected MENA Countries: A Kaldorian Approach 部分中东和北非国家的制造业与经济增长：卡尔多方法

IF 1.2

International Advances in Economic Research Pub Date : 2024-08-12 DOI: 10.1007/s11294-024-09910-4

Nisreen Mousa, Abdallah Nassereddine

{"title":"Manufacturing and Economic Growth in Selected MENA Countries: A Kaldorian Approach","authors":"Nisreen Mousa, Abdallah Nassereddine","doi":"10.1007/s11294-024-09910-4","DOIUrl":"https://doi.org/10.1007/s11294-024-09910-4","url":null,"abstract":"The empirical literature on Kaldor’s laws includes very few studies applied to the Middle East and North Africa. Those that examine the role of manufacturing in the growth process in the context of the region are almost nonexistent. This paper fills the gap and investigates the role of manufacturing growth in selected Middle Eastern and North African countries using panel data analysis from 2007 to 2019. The study tests Kaldor’s three laws to identify the role of manufacturing in economic growth. The first law of Kaldor indicates that the growth rate of the manufacturing sector is strongly and positively related to the growth rate of the economy. The second law of Kaldor, also known as the Kaldor-Verdoorn law, shows the relationship between productivity in manufacturing and manufacturing output. The third law states that a rise in overall productivity in an economy has a positive effect on output in manufacturing. Using data from the World Development Indicators, an empirical analysis using the system generalized method of moments is performed in a sample of 13 Middle Eastern and North African countries. The results provide strong support for the three laws in the Middle East and North Africa, demonstrating that output growth in the manufacturing sector is critical for generating economic growth and increasing productivity.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141969234","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

How do Bank Profits Change in Response to Changes in Interest Rates? 银行利润如何随利率变化而变化？

IF 1.1

International Advances in Economic Research Pub Date : 2024-08-08 DOI: 10.1007/s11294-024-09911-3

N. Ozdemir, C. Altinoz

引用次数: 0

Multilevel Modelling in Economics: A Way to Test the Natural-Partner Hypothesis 经济学中的多层次建模：测试自然伙伴假说的一种方法

IF 1.2

International Advances in Economic Research Pub Date : 2024-07-29 DOI: 10.1007/s11294-024-09907-z

Alejandra Martínez-Martínez, Silviano Esteve-Pérez, Salvador Gil-Pareja, Rafael Llorca-Vivero

{"title":"Multilevel Modelling in Economics: A Way to Test the Natural-Partner Hypothesis","authors":"Alejandra Martínez-Martínez, Silviano Esteve-Pérez, Salvador Gil-Pareja, Rafael Llorca-Vivero","doi":"10.1007/s11294-024-09907-z","DOIUrl":"https://doi.org/10.1007/s11294-024-09907-z","url":null,"abstract":"This study applies multilevel modelling to the analysis of trade flows. This methodology can complement the use of the standard gravity equation in addressing the influence of geographical distance on the impact of trade agreements on bilateral trade (the natural-partner hypothesis). The analysis suggests that the simplest, most obvious, and best way to nest country pairs with international trade data is by distance. To this end, a sample of 69 countries with data on domestic flows over the period 1986–2016 was used. This sample accounts for around 85% of world trade data. The estimations suggest that the pro-trade effects of preferential trade agreements decrease with distance to trade partners, while this does not occur with the multilateral trading system. What is more interesting is that the former result only holds for the preferential trade agreements involving goods, which supports the natural-trading partner hypothesis, but not for those that include services. In the latter case, the impact increases with distance. This suggests that deeper preferential trade agreements reduce the cost of distance as a barrier to trade, which probably reflects cultural (regulation) distance.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2024-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141872568","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

Modelling the Effects of Exogenous Changes on the Social Problem of Capital Allocation 模拟外生变化对资本分配社会问题的影响

IF 1.1

International Advances in Economic Research Pub Date : 2024-07-16 DOI: 10.1007/s11294-024-09906-0

Robert S. Goldberg, Zahra Sedighi-Maman, Mariano Torras

引用次数: 0

Stock Markets Cycles and Macroeconomic Dynamics 股市周期和宏观经济动态

IF 1.2

International Advances in Economic Research Pub Date : 2024-07-11 DOI: 10.1007/s11294-024-09901-5

Puneet Vatsa, Hem C. Basnet, Franklin G. Mixon, Kamal P. Upadhyaya

引用次数: 0

State’s Role in Income Inequality: Social Preferences and Life Satisfaction 国家在收入不平等中的作用：社会偏好与生活满意度

IF 1.2

International Advances in Economic Research Pub Date : 2024-07-09 DOI: 10.1007/s11294-024-09905-1

Anna-Maria Kanzola, Konstantina Papaioannou, Demosthenes G. Kollias, Panagiotis E. Petrakis

{"title":"State’s Role in Income Inequality: Social Preferences and Life Satisfaction","authors":"Anna-Maria Kanzola, Konstantina Papaioannou, Demosthenes G. Kollias, Panagiotis E. Petrakis","doi":"10.1007/s11294-024-09905-1","DOIUrl":"https://doi.org/10.1007/s11294-024-09905-1","url":null,"abstract":"This study analyzes the determinants of life satisfaction in two social identity profiles according to whether the individual favors or is against state intervention for reducing income inequality. The data originated from field research conducted in the Greek society during the years 2019, 2020, and 2022. Our findings suggest that individuals who are against state intervention to reduce income inequality are closer to the utilitarian view of life assessment. Their life satisfaction is shaped by happiness, the ability to borrow money, and the negative impact of social distrust. Alternatively, individuals favoring state intervention to reduce income inequality have a sophisticated background of traits, social values, and exogenous characteristics influencing their life satisfaction, such as happiness, religiosity, equitability, cultural change, the ability to borrow money, and state of health. Thus, microeconomic attitudes decisively establish macroeconomic policies through financial decisions and expectations about a resilient state’s obligations to its citizens. In this context, policy remarks suggest that state intervention promotes life satisfaction when it does not restrict individual freedom and well-being. The study’s novelty lies in providing a concise behavioral framework, without abandoning economic analysis, for the assessment of social preferences for economic organization and life satisfaction, which is at the center of efficient policymaking aimed to improve social welfare.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141575171","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

Globalization is Evolving, Not Ending: Notes on International Economic Linkages Amidst Geopolitical De-Risking 全球化在演变，而非终结：地缘政治去风险中的国际经济联系说明

IF 1.1

International Advances in Economic Research Pub Date : 2024-07-01 DOI: 10.1007/s11294-024-09904-2

Ronald U. Mendoza

引用次数: 0

Can Sovereign Green Bonds Accelerate the Transition to Net-Zero Greenhouse Gas Emissions? 主权绿色债券能否加速向温室气体净零排放过渡？

IF 1.2

International Advances in Economic Research Pub Date : 2024-06-07 DOI: 10.1007/s11294-024-09900-6

G. Chesini

引用次数: 0