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":"19 1","pages":""},"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":"5 1","pages":""},"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":"31 1","pages":""},"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

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":"20 1","pages":""},"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

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":"1 1","pages":""},"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

Perception of Housing Taxation in the Czech Republic 捷克共和国对住房税的看法

IF 1.2

International Advances in Economic Research Pub Date : 2024-04-16 DOI: 10.1007/s11294-024-09894-1

Jana Janoušková, Šárka Sobotovičová

{"title":"Perception of Housing Taxation in the Czech Republic","authors":"Jana Janoušková, Šárka Sobotovičová","doi":"10.1007/s11294-024-09894-1","DOIUrl":"https://doi.org/10.1007/s11294-024-09894-1","url":null,"abstract":"Housing taxation is considered the most obvious tax system inequity. Therefore, this type of taxation should be in line with the benefit principle. This article examines the attitudes of citizens towards residential building taxation in the Czech Republic. The aim of this paper is to evaluate the perception of residential building tax burden by taxpayers who own a house or apartment for housing based on primary research. The research was conducted in the Czech Republic using a questionnaire in 2021 and 2022. Differences in the tax burden perception in relation to improvements in quality of life in a municipality and use of compensation by providing financial benefit in favor of resident citizens are investigated in the context of municipality size. It was found that the majority of respondents in all municipality size categories perceived the tax burden as reasonable. Citizens' positive attitudes towards the taxation of their residential buildings were influenced not only by the quality-of-life improvement in the municipality, but also by the transparency of the municipality's financial management. By compensating for the tax on residential buildings through providing a financial benefit, some municipalities reduced the tax burden for their resident citizens and shifted the tax burden, within the limits of the law, to buildings for business and recreation. The most common forms of financial benefits included reducing or eliminating municipal waste fees.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":"61 36 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2024-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140596328","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

Tax Deduction Matters: Elasticities of the Laffer Curve, Taxable Income, and Tax Revenue 减税问题：拉弗曲线的弹性、应税收入和税收收入

IF 1.2

International Advances in Economic Research Pub Date : 2024-03-11 DOI: 10.1007/s11294-024-09887-0

Hiroshi Gunji, Kazuki Hiraga, Kenji Miyazaki

{"title":"Tax Deduction Matters: Elasticities of the Laffer Curve, Taxable Income, and Tax Revenue","authors":"Hiroshi Gunji, Kazuki Hiraga, Kenji Miyazaki","doi":"10.1007/s11294-024-09887-0","DOIUrl":"https://doi.org/10.1007/s11294-024-09887-0","url":null,"abstract":"This study uses a simple dynamic general equilibrium model to demonstrate that the tax deductions affect the three elasticities: that of the Laffer curve (the Laffer elasticity, hereafter), taxable income, and the tax revenue. This study first decomposes the Laffer elasticity, which consists of the elasticity of taxable income and the tax revenue elasticity. The contributions of this paper are twofold. First, to quantitatively evaluate the importance of tax deductions, this study calculates the analytical solutions of these elasticities with respect to labor and capital income under the steady state in the general equilibrium model with exogenous deduction and a social security tax. Second, using Japanese data, this study conducts a numerical simulation with plausible parameter values. Furthermore, this study finds that the simulation results are consistent with the empirical literature on public finance: an unstable peak of the Laffer curve, a wide range of estimates for the elasticity of taxable income, and tax revenue elasticity greater than 1. The policy implication of these results is that tax rates that maximize tax revenues are unstable, depending on parameters and deductions.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":"55 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2024-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140097335","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

Could CBDCs Lead to Cash Extinction? Insights from a “Merchant-Customer” Model CBDC 会导致现金消亡吗？商户-客户 "模式的启示

IF 1.2

International Advances in Economic Research Pub Date : 2024-02-19 DOI: 10.1007/s11294-024-09888-z

Rodolfo Maino, Marco Pani

引用次数: 0

Leontief Paradox vs. Leontief Trade and Localized Factor Prices vs. Localized Trade Patterns 列昂惕夫悖论与列昂惕夫贸易，本地化要素价格与本地化贸易模式

IF 1.2

International Advances in Economic Research Pub Date : 2024-02-15 DOI: 10.1007/s11294-024-09886-1

Baoping Guo

{"title":"Leontief Paradox vs. Leontief Trade and Localized Factor Prices vs. Localized Trade Patterns","authors":"Baoping Guo","doi":"10.1007/s11294-024-09886-1","DOIUrl":"https://doi.org/10.1007/s11294-024-09886-1","url":null,"abstract":"Effective endowments and virtual endowments are insightful ideas to incorporate different technologies with the Heckscher-Ohlin-Vanek framework. This study shows that trade patterns are localized when countries have different technologies, while factor prices are non-equalized (or localized). The Leontief paradox is a localized trade phenomenon or pattern conceptually. It demonstrates that both effective endowments and virtual endowments can explain and present the trade pattern observed in the Leontief test. The core idea of the effective endowment (and the virtual endowment) is that a country exports its effective-abundant factor referred to by its productivity. This paper illustrates that the Leontief paradox arises naturally if a country’s actual factor abundance is inconsistent with its effective factor abundance. The study presents the price-trade equilibrium with non-equalized factor prices to help view trade patterns as trade consequences. The study shows that the Leontief paradox phenomenon may occur even in the absence of factor intensity reversal. The study proposes the factor price definition of trade patterns that mirrors trade patterns defined by factor abundances.","PeriodicalId":45656,"journal":{"name":"International Advances in Economic Research","volume":"262 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139761033","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