International Review of Applied Economics最新文献

{"title":"A critical analysis of capital controls: implications for crisis prevention and economic performance","authors":"Chokri Zehri, Latifa Saleh Iben Ammar, Wissem Ajili Ben Youssef","doi":"10.1080/02692171.2023.2291556","DOIUrl":"https://doi.org/10.1080/02692171.2023.2291556","url":null,"abstract":"This paper researches the effects of capital controls on the financial system’s stability, finding that such regulatory measures mitigate the risk of banking crises (a favourable outcome) while con...","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2023-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138574790","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 failures of current capitalism: what next?","authors":"Jonathan Michie","doi":"10.1080/02692171.2023.2266331","DOIUrl":"https://doi.org/10.1080/02692171.2023.2266331","url":null,"abstract":"Published in International Review of Applied Economics (Vol. 37, No. 5, 2023)","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2023-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138526483","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":"Productivity, equity and sustainability","authors":"Jonathan Michie","doi":"10.1080/02692171.2023.2272432","DOIUrl":"https://doi.org/10.1080/02692171.2023.2272432","url":null,"abstract":"Published in International Review of Applied Economics (Vol. 37, No. 5, 2023)","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2023-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138526487","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 relative impact of traditional and digital financial inclusion on economic growth: a threshold regression-based comparative analysis","authors":"Subroto Rapih, Budi Wahyono","doi":"10.1080/02692171.2023.2281460","DOIUrl":"https://doi.org/10.1080/02692171.2023.2281460","url":null,"abstract":"ABSTRACTThis study examines the effect of traditional and digital financial inclusion on economic growth in 130 developed and developing countries in 2014 and 2017. The motivation behind this study emerges from the critical need to discern not only how traditional and digital financial inclusion individually influence economic growth, but also to compare their relative contributions. In addition, there exists a potential non-linear relationship between traditional and digital financial inclusion, wherein both forms of financial inclusion can exert a positive influence on economic growth up to a specific threshold. For this purpose, traditional and digital financial inclusion indices were developed as distinct measures to investigate the relative contribution of each to economic growth. Cross-sectional sample splitting and threshold estimation were utilised to analyse whether the effects of each financial inclusion index on economic growth varied across different levels of digital and traditional financial inclusion. This study yielded two notable findings. First, the effect of traditional financial inclusion on economic growth is pronounced in countries with low levels of inclusion. Second, digital financial inclusion has a greater positive impact on economic growth in countries with higher levels of digital financial inclusion.KEYWORDS: Digital financial inclusionfinancial inclusioneconomic growththreshold effectJEL CLASSIFICATION: G21O4O47C31 AcknowledgementWe would like to thank the Editor Jonathan Michie and the anonymous referees for their highly constructive comments.Disclosure statementNo potential conflict of interest was reported by the author(s).Availability of data and materialThe dataset of this study is included in this article as Supplemental online materialAdditional informationFundingThe authors declare that no funds, grants, or other support were received during the preparation of this manuscript.","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134957756","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":"Determinants of profitability in the economy of the Republic of Cyprus based on a classical Marxist approach","authors":"Petros Kosmas, Elias Ioakimoglou","doi":"10.1080/02692171.2023.2281458","DOIUrl":"https://doi.org/10.1080/02692171.2023.2281458","url":null,"abstract":"ABSTRACTThis paper was designed to explore the factors influencing profitability within the business sector using a methodological framework rooted in Marx’s concept of the profit rate. By addressing the complexities of profitability changes, this study investigated the factors that drive profitability within the business sector of the Republic of Cyprus for the years 2006–2022, including: a period of severe structural crisis and change (2013–2014), a period of recovery (2015–2022) based on the outcomes of the crisis, and a period (2006–2012) against which shifts can be contrasted. The findings of this empirical study suggest that a substantial portion of the increase in profitability since 2015 is due to the reduction in the value of the labour power during the crisis years (2013–2014) and following the COVID-19 pandemic period (2021–2022).KEYWORDS: Profit ratelabour productivitycapital productivitywagesRepublic of CyprusJEL CLASSIFICATION: B40B51E11E30 Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available from Eurostat but restrictions apply to the availability of these data, which were used under licence for the current study. Data are, however, available from the authors upon reasonable request and with permission of Eurostat.Notes1. Uninsured deposits of over €100,000 were haircut in two troubled banks during this timeframe.2. We do not exclude unproductive labour not producing directly surplus value still increasing indirectly profitability and speeding up the circulation of capital (Duménil and Lévy Citation2011a).3. We take only fixed capital into account since statistical data are not available for commodity and money capital. This can be justified only under the assumption that the ratio of fixed on circulating capital remained approximately constant during the time span under examination.4. Wages include shadow wages of the self-employed under the assumption that the average labour income of the self-employed equals the average wage.5. Wages include shadow wages of the self-employed under the assumption that the self-employed earn the same average wage as the employees.6. Capacity utilisation assumes significance for the analysis of profitability in the short run, which is the case in this paper.7. Analysis of data going back to 1995 shows that the rate of return was quite constant during years 1995 to 2011.8. ‘The relative value of labour power is Marx’s term for the share of the total value product of labour which workers get to keep in the form of wages’, Philip Harvey in «Marx’s Theory of the Value of Labor Power: An Assessment», Social Research Vol. 50, No. 2 (Summer 1983), pp. 305–344, The Johns Hopkins University Press.9. Lines BB’, ΓΓ’, ΔΔ’ in Figure 4 are free hand drawn lines to facilitate the understanding of the figure.10. Full capacity utilisation is proxied in this paper by Potential Output available in ","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135136595","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":"“A permanent national necessity…”: the long revolution will resume <b>Jonathan Michie, reviewing The 60-Year curriculum: new models for lifelong learning in the digital economy</b> , Cristopher J. Dede and John Richards, New York &amp; London, Routledge, 2020, vii-xiii + 1-167 pp. <b>Lifelong Learning, young adults and the challenges of disadvantage in Europe</b> , John Holford, Pepka Boyadjieva, Günter Hefler and Ivana Studená, (eds), Palgrave Macmillan, 2023, xxxviii + 467 pp., Softcover ISBN…","authors":"Jonathan Michie","doi":"10.1080/02692171.2023.2254447","DOIUrl":"https://doi.org/10.1080/02692171.2023.2254447","url":null,"abstract":"","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135167030","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":"Elites and economic policy in South Africa’s transition and beyond","authors":"Firoz Khan, Seeraj Mohamed","doi":"10.1080/02692171.2023.2268558","DOIUrl":"https://doi.org/10.1080/02692171.2023.2268558","url":null,"abstract":"ABSTRACTWe build on and critique previous literature on economic policy configuration during the transition from apartheid to democracy (1990 to 1994) in South Africa (SA). The contribution of this article, and our critique of much influential literature on economic policy formation during the transition, is that the powerful corporate elites were not just stakeholders in negotiations between the apartheid government, the African National Congress (ANC) and other parties. We adopt a structural approach that highlights the crucial role of corporate elites and their active manoeuvring to manage and control economic policymaking during the transition to ensure continuity of the ostensibly free market economic policies they designed during the late-apartheid period. The complicity of the economic leadership of the ANC in squashing progressive economic transformation horizons is directly connected to the survival and institutionalisation in the present of late-apartheid neoliberalised economic policy. Ultimately, the corporate elite’s exertion of their state-expanded powers, their co-option of selected members of the black political elite and the ANC’s economic policy self-emasculation has further strengthened multinational corporations’ domination of SA’s markets, which were already highly concentrated, and limited present and future possibilities for inclusive development of the SA economy.KEYWORDS: Apartheidtransitioncorporate eliteseconomic liberalisationdemocratic consolidation Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. The ANC-commissioned Making Democracy Work (1993) is informed by structuralist and post-Keynesian approaches to economic policy wherein demand and under-full employment are key problems. The growth driver proposed is state-led social and infrastructure investment that crowds im and is followed by private sector investment (Padayachee Citation1998, 438–439).2. Teixeira and Halpin (Citation2011) discuss progressive economics, and Padayachee and Fine (Citation2019) details associated policies and for a discussion of progressive macroeconomic policy and its of relevance to South Africa3. The is both a description and an analytical framework for understanding the evolution of SA’s system of accumulation (Fine and Rustomjee Citation1996).4. The term ‘free market’is not about reducing the role of the state. Without laws, policies, security and courts, market freedom is neither possible nor guaranteed (Fine and Saad-Filho Citation2017, 694–695). In the neoliberal frame, the free market entails redirection and transformation of the control and role of the state in social and economic reproduction. Macroecomic policies are aligned to the prescripts of both the Washington and Wall Street Consensus (Hickel Citation2021).5. The GNU ruled from April 1994 to February 1997.6. For a useful summary of the consequences, see Padayachee and Van Niekerk (Citation2019, 230–233).7. Teixeira and Halpin (Cit","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135570761","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":"Developing linkages between technology-intensive exports and GVC participation: a perspective from India and G20 countries","authors":"Kashika Arora","doi":"10.1080/02692171.2023.2268548","DOIUrl":"https://doi.org/10.1080/02692171.2023.2268548","url":null,"abstract":"ABSTRACTThe G20, representing the world’s major developed and developing countries, is experiencing a unique situation with a troika of developing countries – Indonesia, India, and Brazil – holding significant positions for the first time. India, holding the G20 presidency, has a unique opportunity to strengthen its ties while assuming the responsibility of leading the world towards economic recovery. To understand India’s priorities regarding trade and supply chain resilience within the G20, it is essential to examine the background of India’s trade relationships with G20 member countries. This paper explores the connection between technology-intensive exports and global value chain (GVC) participation for the period 1995 to 2018 using advanced time-series analysis. The results point towards the importance of forward linkages for India’s exports of both high and low-tech exports and the backward linkage for medium-tech exports. The results show a connection between technological capabilities and exports to G20 nations through India’s participation in the GVC. In light of these findings, the paper offers guidance for the development of timely and well-informed sector-specific strategies.KEYWORDS: GVC participationG20 countrieshigh-tech exportsARDL co-integrationFDIR&D expenditureJEL CLASSIFICATION: F14F60O19 Disclosure statementNo potential conflict of interest was reported by the author.Notes1. https://www.orfonline.org/expert-speak/indias-g20-presidency-bridging-the-north-south-divide/2. https://www.orfonline.org/wp-content/uploads/2022/07/ORF_GVC-Survey-Report_August.pdf3. https://economictimes.indiatimes.com/news/india/view-india-g20-for-a-collaborative-initiative-on-sustainable-global-value-chains/articleshow/96881881.cms?from=mdr4. https://www.imf.org/en/Countries/IND5. https://www.oecd.org/investment/investment-policy/26th-OECD-UNCTAD-Report-on-G20-Investment-Measures.pdf6. https://pib.gov.in/PressReleaseIframePage.aspx?PRID=18823567. https://www.hindustantimes.com/india-news/economic-importance-of-g20-as-india-takes-its-presidency-101668621970770.html8. https://unctadstat.unctad.org/en/Classifications/DimSitcRev3Products_Ldc_Hierarchy.pdf9. https://economictimes.indiatimes.com/news/economy/policy/india-identifies-five-priority-issues-for-its-g20-presidency/articleshow/95723630.cms?from=mdr10. The data is sourced from WITS https://wits.worldbank.org/gvc/gvc-trade-table.html. The Asian countries include Brazil, India, Indonesia, Russia, China, Mexico, Turkey while developed countries include USA, UK, South Korea, Japan, Italy, Germany, France, Australia, Canada.11. https://www.wto.org/english/res_e/booksp_e/08_gvc_ch5_dev_report_2021_e.pdf12. https://stats.oecd.org/Index.aspx?DataSetCode=TIVA_2021_C113. https://www.wto.org/english/res_e/statis_e/miwi_e/explanatory_notes_e.pdf14. https://info.worldbank.org/governance/wgi/15. https://industryoutlook.cmie.com/","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136098073","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":"What is Edith Penrose’s legacy for the theory of the firm?","authors":"Irene Roele, Sonja Ruehl","doi":"10.1080/02692171.2023.2254718","DOIUrl":"https://doi.org/10.1080/02692171.2023.2254718","url":null,"abstract":"ABSTRACTPrompted by centenary celebrations of the contribution of Edith Penrose to the theory of the firm, the development of resource-based views of the firm (RBV) and knowledge-based perspectives, this article considers the continuing usefulness of Penrose’s perspective for strategic management, from the point of view of the practitioner, the management educator and to the development of the academic field of strategic management. As authors, we draw on methods originating with Penrose’s pioneering case study methodology by framing illustrative ‘vignettes’ or case examples for discussion, including that of Tesco, which draws on extensive participant observation as well as theory.KEYWORDS: Penrosestrategic managementfirm strategygrowth of the firmcase study methodbusiness educationlearning organisationTescoJEL CLASSIFICATION: D21D830L100L2MM21 Disclosure statementNo potential conflict of interest was reported by the authors.","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135015034","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":"Editor’s introduction","authors":"Jonathan Michie","doi":"10.1080/02692171.2023.2253063","DOIUrl":"https://doi.org/10.1080/02692171.2023.2253063","url":null,"abstract":"Published in International Review of Applied Economics (Vol. 37, No. 4, 2023)","PeriodicalId":51618,"journal":{"name":"International Review of Applied Economics","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138526488","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}