发布求助
文献互助 智能选刊 最新文献

Cambridge Journal of Economics最新文献

筛选
英文 中文
The finance and growth nexus revisited: a truly Schumpeterian perspective 重新审视金融与增长的关系：真正的熊彼特视角
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-04-26 DOI: 10.1093/cje/beae014
Peter Bofinger, Lisa Geißendörfer, Thomas Haas, Fabian Mayer
{"title":"The finance and growth nexus revisited: a truly Schumpeterian perspective","authors":"Peter Bofinger, Lisa Geißendörfer, Thomas Haas, Fabian Mayer","doi":"10.1093/cje/beae014","DOIUrl":"https://doi.org/10.1093/cje/beae014","url":null,"abstract":"The nexus between the financial system and economic development is an issue that is as important for economic theory as it is for economic policy. This article provides a theoretical and empirical analysis of the standard literature that uses Joseph A. Schumpeter as an academic patron. The starting point of our study is the theoretical finding that Schumpeter is misinterpreted in the finance and growth literature. We show that this leads to puzzling empirical results and difficulties in explaining even fundamental relationships. After a critical analysis of the literature, we provide our own empirical analysis using a panel of 43 countries to explore the relationships between finance and growth variables based on a truly Schumpeterian and thus monetary growth model. Our empirical analysis shows that (i) dynamic credit variables are better at describing the finance and growth nexus than static credit variables, (ii) as saving is not a prerequisite for credit, we do not find a statistically significant relationship between household saving and gross domestic product (GDP) growth, and (iii) in line with the empirical literature, we find a bi-directional relationship between credit and GDP growth.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140800596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Effective corporate income taxation and its effect on capital accumulation: cross-country evidence 有效的企业所得税及其对资本积累的影响：跨国证据
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-04-11 DOI: 10.1093/cje/beae013
Thomas Goda
{"title":"Effective corporate income taxation and its effect on capital accumulation: cross-country evidence","authors":"Thomas Goda","doi":"10.1093/cje/beae013","DOIUrl":"https://doi.org/10.1093/cje/beae013","url":null,"abstract":"\u0000 It is debated to what extent corporate taxation discourages capital formation, and the related empirical cross-country evidence is inconclusive. This paper provides new insights into this matter for a large sample of developed and developing countries. In the first step, national accounts data is used to calculate backward-looking effective corporate income tax rates (ECTR) for 77 countries during 1995–2018. In the second step, dynamic panel data regressions are used to estimate the effect of ECTR on aggregate corporate investment. The main findings of this exercise are that (i) statutory corporate income tax rates (SCTR), on average, are twice as high as ECTR, (ii) average ECTR has been relatively stable but show distinct dynamics across countries and (iii) no significant negative relationship exists between ECTR and investment. The latter finding is robust to different specifications and samples and when publicly available SCTR or forward-looking effective tax rate measures are used as alternative tax rate proxies.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140715870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A proper financialisation? New financing mechanisms for developing countries 适当的金融化？发展中国家的新融资机制
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-03-30 DOI: 10.1093/cje/beae011
Massimo Cingolani, J. Toporowski
{"title":"A proper financialisation? New financing mechanisms for developing countries","authors":"Massimo Cingolani, J. Toporowski","doi":"10.1093/cje/beae011","DOIUrl":"https://doi.org/10.1093/cje/beae011","url":null,"abstract":"\u0000 The common view of critics of international finance is that unregulated capital movements destabilise developing countries. At the same time, financial innovations such as foreign exchange swaps are considered to be ‘shadow banking’ and a part of that destabilising international financial environment. The alternative is a reliance on finance in domestic currency. Here there is a problem that finance is poorly developed in many developing countries. This paper outlines an international financing mechanism, based on foreign exchange swaps, that provides for sustainable foreign finance of lending in domestic currencies in developing countries. Section 2 contains a literature review. Section 3 considers the conditions for stable financing of economic activity. Section 4 outlines a swap-based lending facility that can assist domestic financial development and discusses it form the microeconomic viewpoint. Section 5 looks at some of the macro-implications of such a facility. A final section concludes.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140361620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Inflation regimes and hyperinflation: a Post-Keynesian/structuralist typology 通货膨胀制度和恶性通货膨胀：后凯恩斯主义/结构主义类型学
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-03-27 DOI: 10.1093/cje/beae009
Eduardo F Bastian, Sébastien Charles, Jonathan Marie
{"title":"Inflation regimes and hyperinflation: a Post-Keynesian/structuralist typology","authors":"Eduardo F Bastian, Sébastien Charles, Jonathan Marie","doi":"10.1093/cje/beae009","DOIUrl":"https://doi.org/10.1093/cje/beae009","url":null,"abstract":"\u0000 The article proposes a typology of inflation regimes based on the Post-Keynesian and structuralist literature. We identify three separate regimes: the low, moderate and high inflation regimes. Hyperinflation is also defined and described. Each regime presents different characteristics. We identify the key role played by the distributive conflict between workers and capitalists in all the regimes, the role played by the indexation of wages on domestic prices in the moderate and high inflation regimes and the specific roles played by the widespread indexation on a short-term basis in the high inflation regime. Hyperinflation is explained by self-fulfilling prophecies about exchange rate variations and by the rejection of the domestic currency.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140376260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
William Thompson and John Stuart Mill on co-operation and the rights of women 威廉-汤普森和约翰-斯图亚特-密尔论合作与妇女权利
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-03-22 DOI: 10.1093/cje/beae010
Renee Prendergast
{"title":"William Thompson and John Stuart Mill on co-operation and the rights of women","authors":"Renee Prendergast","doi":"10.1093/cje/beae010","DOIUrl":"https://doi.org/10.1093/cje/beae010","url":null,"abstract":"William Thompson and, later, John Stuart Mill argued that women’s inferior position in society was a product of their environment and upbringing. As such, access to the franchise, and opportunities for education and employment would improve the welfare and position of women. Recognition of women’s reproductive roles led Thompson to argue that equality of outcome for women could not be achieved within the competitive framework and required a re-organisation of society into self-supporting co-operative communities in which women’s reproductive role would be valued and childcare and catering provided communally. While John Stuart Mill advocated access for women into all employments, he thought that a purely domestic role was consistent with women’s emancipation provided that role was freely chosen. Free choice was supported by better outside options but the bargaining power of women choosing the domestic route was not addressed by Mill. Mill supported co-operation but his favoured form involved co-operative ownership of firms operating within competitive markets. He believed that a society based on co-operation would foster favourable attitudes towards women’s emancipation and moral improvement more generally, but he saw no direct relationship between the development of co-operative enterprise and the status of women.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140203055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effect of Brexit on British workers living in Portugal: a synthetic control method approach 英国脱欧对居住在葡萄牙的英国工人的影响：一种合成控制方法
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-03-19 DOI: 10.1093/cje/beae007
Ana Venâncio, João Pereira dos Santos
{"title":"The effect of Brexit on British workers living in Portugal: a synthetic control method approach","authors":"Ana Venâncio, João Pereira dos Santos","doi":"10.1093/cje/beae007","DOIUrl":"https://doi.org/10.1093/cje/beae007","url":null,"abstract":"The effect of Brexit is an important topic in European and British political agendas. In this study, we examine the effect of Brexit on the Portuguese labour market. We apply the synthetic control method to estimate how the number of UK citizens working in Portugal would have evolved if the Remain vote had won the referendum. Our results suggest that the Brexit referendum reduced the number of UK-dependent workers in Portugal, particularly in the case of non-university-educated, male individuals with temporary employment contracts. This reduction is explained by the decrease in the number of incomers. We also find that those UK citizens who were already working in Portugal before Brexit were more likely to continue working in the host country.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140202962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Profits and capital accumulation in the Mexican economy 墨西哥经济的利润和资本积累
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-03-13 DOI: 10.1093/cje/beae002
Carlos A Ibarra
{"title":"Profits and capital accumulation in the Mexican economy","authors":"Carlos A Ibarra","doi":"10.1093/cje/beae002","DOIUrl":"https://doi.org/10.1093/cje/beae002","url":null,"abstract":"The paper studies the long-run disconnection between a rising profit share of income and a constant rate of capital accumulation in Mexico since the early 1990s. According to stylized facts based on the Cambridge accumulation equation, the disconnection reflects two factors: first, a flat trajectory of the investment share of profits, and second, a gap between a rising profit share and a constant or even falling profit rate due to a decline in the output/capital ratio. In manufacturing—where the disconnection was particularly sharp—econometric estimates show that the accumulation rate was negatively affected not only by the decline in the output/capital ratio but also by a fall in the relative Mexican/US profit rate. The estimates show in addition that, among financialization indicators, a rise in interest payments as a share of profits may have contributed to the low accumulation rate.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140153385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Léon Walras and Alfred Marshall: microeconomic rational choice or human and social nature? 莱昂-瓦尔拉斯和阿尔弗雷德-马歇尔：微观经济的理性选择还是人类和社会本性？
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-02-27 DOI: 10.1093/cje/beae005
Richard Arena, Katia Caldari
{"title":"Léon Walras and Alfred Marshall: microeconomic rational choice or human and social nature?","authors":"Richard Arena, Katia Caldari","doi":"10.1093/cje/beae005","DOIUrl":"https://doi.org/10.1093/cje/beae005","url":null,"abstract":"Alfred Marshall’s and Léon Walras’s works have often been compared in the literature, on the one hand underlining their several differences and on the other hand focussing on their possible resemblances building what was called ‘neoclassical economics. This interpretation failed to pay due attention, however, to a number of important aspects that in fact stand in the way of a proper understanding of these two authors’ contributions. This paper focuses on the analogies to be found between Walras’s and Marshall’s analyses of economic behaviour, which are related not to a supposed affiliation to a common neo-classical tradition but to a common conception of the relation between human economic agents and society.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140019807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is accounting a matter for bookkeepers only? The effects of IFRS adoption on the financialisation of economy 会计只是簿记员的事吗？采用《国际财务报告准则》对经济金融化的影响
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-02-20 DOI: 10.1093/cje/beae006
Andrew G Haldane, Alessandro Migliavacca, Vera Palea
{"title":"Is accounting a matter for bookkeepers only? The effects of IFRS adoption on the financialisation of economy","authors":"Andrew G Haldane, Alessandro Migliavacca, Vera Palea","doi":"10.1093/cje/beae006","DOIUrl":"https://doi.org/10.1093/cje/beae006","url":null,"abstract":"The process of financialisation has been extensively studied and several stylised facts identified. Short-termism is one of these. This article analyses the role that changes in accounting rules have played in increasing short-termism in company management. Our study considers the adoption of the International Financial Reporting Standards in the European Union (EU), showing that the new accounting standards have altered companies’ sensitivity to investment opportunities, leading to underinvestment in the real economy. In doing so, our article highlights the public-policy profile of accounting standards setting and possible tensions with EU societal objectives. To the best of our knowledge, this is the first study empirically analysing the role of accounting rules in the financialisation of economy.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139948647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
‘Who are the capability theorists?’: a tale of the origins and development of the capability approach 谁是能力理论家？"：能力方法的起源与发展故事
IF 2 2区 经济学
Cambridge Journal of Economics Pub Date : 2024-02-17 DOI: 10.1093/cje/beae004
Valentina Erasmo
{"title":"‘Who are the capability theorists?’: a tale of the origins and development of the capability approach","authors":"Valentina Erasmo","doi":"10.1093/cje/beae004","DOIUrl":"https://doi.org/10.1093/cje/beae004","url":null,"abstract":"This paper offers a history of the capability approach from its origins to its more recent development. Sen himself refused to be defined as the capability theorist and despite this analysis, we will come to understand that Sen played an essential role in this history because he pioneered the approach, but that his role has probably been overestimated by the available literature. Two further ‘main characters’ provided a relevant contribution to the origins and development of the capability approach, namely Walsh and Nussbaum. Finally, this paper considers the two main groups that have developed since the capability approach, the capability approach centred perspective and the capability approach heuristic value perspective, in order to show how they follow these three main characters in their own development of the capability approach.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":null,"pages":null},"PeriodicalIF":2.0,"publicationDate":"2024-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139909898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信