Economic Systems最新文献_第7页

Gender political inclusion and inclusive finance in Africa 非洲的性别政治包容和普惠金融

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101187

Tii N. Nchofoung , Simplice A. Asongu , Vanessa S. Tchamyou

{"title":"Gender political inclusion and inclusive finance in Africa","authors":"Tii N. Nchofoung , Simplice A. Asongu , Vanessa S. Tchamyou","doi":"10.1016/j.ecosys.2024.101187","DOIUrl":"10.1016/j.ecosys.2024.101187","url":null,"abstract":"<div><p>At the 2010 G20 Summit, the use of formal financial services was recognized as one of the main pillars of the global development agenda. At the same time, the fifth goal of the Sustainable development agenda outlined the importance of gender inclusion for sustainable development. Empirical research on the effect of gender inclusion on inclusive finance has however been limited to micro level studies. This study aims to verify the effect of gender political inclusion on financial inclusion on a sample of 37 African countries from 2004–2020. The empirical methodology involves the OLS, the Tobit regression and the System GMM methodologies. The results from these methods show that gender political inclusion is enhancing on financial inclusion in Africa, and this finding is robust across alternative specifications of gender inclusion and inclusive finance. Besides, governance exhibits a positive synergy effect with gender political inclusion on inclusive finance. Policy implications are discussed.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 2","pages":"Article 101187"},"PeriodicalIF":3.1,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0939362524000098/pdfft?md5=bc6f61c15f12e7adaff63ded325b0a2a&pid=1-s2.0-S0939362524000098-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139515236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Labour immobility between industries: Consequences for the macroeconomy 产业间劳动力的不流动性：对宏观经济的影响

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101184

Parantap Basu , David Chivers , Changhyun Park

引用次数: 0

Monetary and fiscal interplay: Does it work both ways? 货币与财政的相互作用：是否双管齐下？

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101188

António Afonso , Alexandre Sousa

引用次数: 0

Volatility connectedness and its determinants of global energy stock markets 全球能源股票市场的波动关联性及其决定因素

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101193

Qichang Xie , Chao Luo , Xiaoping Cong , Xu Wang

{"title":"Volatility connectedness and its determinants of global energy stock markets","authors":"Qichang Xie , Chao Luo , Xiaoping Cong , Xu Wang","doi":"10.1016/j.ecosys.2024.101193","DOIUrl":"10.1016/j.ecosys.2024.101193","url":null,"abstract":"<div><p>This study seeks to construct a global volatility network for a large number of energy firms and explore the mechanisms of risk transmission of energy stock markets at the corporate, national, and regional levels by applying an elastic-net-VAR method. A semiparametric function coefficient model is introduced to test the time-varying influence of oil price uncertainty (OVX) on the stability of the energy system. The results reveal that volatility spillovers across global energy firms are strong and crisis-sensitive. The 2008 financial crisis and COVID-19 pandemic have significantly increased the connectedness of the energy system. Transnational risk transmission assumes the main part of risk migration among energy enterprises and becomes more pronounced in crisis periods. Energy companies in Europe and North America are the main risk transmitters, whereas those in Asia are the chief risk receivers. Moreover, OVX has a positive effect on the volatility spillover of the energy system, and the effect is significantly enhanced during the breakout of extreme events. These findings conclude that tracking risk connectedness in the energy system and understanding its key drivers are important for investment decisions and regulatory policy settings involving energy.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 2","pages":"Article 101193"},"PeriodicalIF":3.1,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139586459","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

Global corporate tax policy space 全球企业税收政策空间

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2024.101197

Turalay Kenc , Emrah Ismail Cevik

引用次数: 0

Sources of financing: Which ones are more effective in innovation–growth linkage? 资金来源：哪些资金来源在创新与增长的联系中更为有效？

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2023.101177

Anabela M. Santos , Michele Cincera , Giovanni Cerulli

引用次数: 0

Does informality hinder financial development convergence? 非正规性是否阻碍金融发展趋同？

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-06-01 DOI: 10.1016/j.ecosys.2023.101174

Can Sever , Emekcan Yücel

引用次数: 0

Financial depth versus more comprehensive metrics of financial development in tests of the finance-growth nexus 在检验金融与增长的关系时，金融深度与更全面的金融发展指标的比较

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101173

Martin Boďa

{"title":"Financial depth versus more comprehensive metrics of financial development in tests of the finance-growth nexus","authors":"Martin Boďa","doi":"10.1016/j.ecosys.2023.101173","DOIUrl":"10.1016/j.ecosys.2023.101173","url":null,"abstract":"<div><p>First, the paper gives a critical appraisal of recently proposed quality adjustments of the ratio of private credit to the gross domestic product (GDP) as a proxy for finance<span><span> in empirical tests of the finance-growth nexus and cautions against such heuristic measures. Second, in response to the unidimensional feature of conventionally applied proxies for finance, the paper constructs a variable for financial development (FD metric) that measures the relative distance of a financial system from its best attainable performance in terms of depth, access, efficiency, and stability. The measurement is grounded in the principles of data envelopment analysis for ratio data and is built on structural indicators available in the Global Financial Development Database by the World Bank. Using annual data for 157 countries over the period 1993–2020, the paper then explores the finance-growth nexus using several financial metrics in panel-data regression models and considering </span>nonlinearity in both a parametric and semiparametric manner. Economic growth is found to react negatively to finance, whereas this detrimental effect strengthens beyond a certain level of financial depth. In contrast, the access, efficiency, and stability of the financial sector are less important for growth. Hence, the findings lend weight to an economic policy focused primarily on a minimal size of the financial sector that permits its smooth operations, without the need to ensure that the financial sector performs qualitatively at its best.</span></p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 1","pages":"Article 101173"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139053788","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

Does population aging coexist with income inequality in the long run? Evidence from selected Asia-Pacific countries 人口老龄化与收入不平等是否长期并存？来自部分亚太国家的证据

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101149

Muhammad Raees Shaik , Soo Khoon Goh , Koi Nyen Wong , Chee Hong Law

{"title":"Does population aging coexist with income inequality in the long run? Evidence from selected Asia-Pacific countries","authors":"Muhammad Raees Shaik , Soo Khoon Goh , Koi Nyen Wong , Chee Hong Law","doi":"10.1016/j.ecosys.2023.101149","DOIUrl":"10.1016/j.ecosys.2023.101149","url":null,"abstract":"<div><p>Advanced countries have experienced a general rise in income inequality, whereas the outlook for income inequality in developing countries is mixed. As such, reduction in income inequality continues to be an important socio-economic development goal in many countries in the twenty-first century. Furthermore, it remains unclear whether the slow progress in reducing income inequality is a manifestation of the prevailing aging population. Using a sample of countries that are currently considered aging, aged, and super-aged countries in the Asia-Pacific region, the paper empirically examines whether a long-run nexus exists between population aging and income inequality. The methodology adopted includes the augmented autoregressive distributed lag (A-ARDL) bounds test. The key results show that aging and income inequality have a long-run relationship among aged and super-aged countries. In contrast, recently graying countries show no evidence of cointegration due to their relatively early transition to aging. Some other control variables also reveal a significant impact on income inequality. Increases in the real gross domestic product per capita worsen the income distribution, but higher government expenditure can help moderate income inequality. In light of rapid population aging, the findings are useful for policy makers in designing and targeting appropriate socioeconomic policies to help mitigate income inequality in the long run based on the intensity of the share of the elderly population in the countries studied.</p></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"48 1","pages":"Article 101149"},"PeriodicalIF":3.1,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135427561","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

FDI and income inequality in tax-haven countries: The relevance of tax pressure 避税地国家的外国直接投资与收入不平等：税收压力的相关性

IF 3.1 2区经济学

Economic Systems Pub Date : 2024-03-01 DOI: 10.1016/j.ecosys.2023.101172

Gonzalo Soto , Carlos M. Jardon , Xavier Martinez-Cobas

引用次数: 0