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Global assessment of climate change and trade on food security
Full text linkAbstract. The rise in global trade has led to improvements in the standard of living and lifted many out of poverty, but not all countries have been able to fully integrate into the world trading system due to lack of resources. Access to food supplies is critical for those with inadequate access to food for sustainable consumption. The evolving trade dynamics and climate change will result in winners and losers for the global food system, with some regions experiencing double exposure to economic and climate-related shocks and stressors. Trade openness can significantly reduce vulnerabilities and enhance food security, if necessary, infrastructure is in place. Although global trade can play a crucial role in ensuring that the global food system adapts to a changing climate, this potential will only be realized if trade is managed to maximize the benefits of broadened access to new markets and minimize the risks of increased exposure to international competition and market volatility. For regions like Africa, enhanced transportation networks, combined with greater national reserves of cash and enhanced social safety nets, could reduce the impact of double exposure on food security.Keywords. International trade; Food security; Climate change.JEL. F13; F14; Q54
Subsistence-(Threshold) payoff and truncated risk preferences
Full text linkAbstract. A measure of aversion to a risk akin to the risk premium is the required payoff truncation – a probability level, or a point of the distribution range - of the – null mean - risk distribution that allows an expected utility equal to the deterministic level. For a small risk – a noise of null expected value - added to the argument of an utility function, it is straight-forward to show that – for a risk-averse individual - such subsistence probability equals the conventional risk-premium over the symmetric of the worst possible outcome. However, both measures do not take into account aversion (or proneness) to risk in the utility distribution itself – they apply to expected utility maximizers. Maxmin behaviour and quantile preferences, applicable in the presence of uncertainty (or non-cooperative opponents) rather than risk, can be suggested to circumvent the problem. An alternative theory – constrained expected utility - relies on the use the expected utility over the upper truncated distribution (lower - or doubly truncated - in case of risk-loving behavior) at a given (individual specific) truncation point, or probability level. Then, a conventionally defined risk-premium weighs both the truncation bias and risk dispersion. Such distinction also applies if preference truncation – or rather, “trimming” - is (instead) accompanied by a switch of probability mass to tail “focal” points. Then, if the latter are sufficiently extreme, the effect on attitude towards risk may be reversed relative to standard preference truncation: lower trimming enhancing risk-aversion, upper one reducing it. Applications of truncated principles to mean-variance “utility” preferences – and risk-loving attitudes - were also briefly outlined. Illustrations for normal and uniform risks were often appended.Keywords. Subsistence-payoff; Non-expected utility theories; Constrained expected utility; Truncated preferences towards risk; Maxmin, maxmax; Trimmed preferences towards risk; Focal points; Mean – variance(-utility) preferences; “Trimmed” normal (with tail focal points) distribution; Triangular distribution; Triangular preferences.JEL. D81; C10; C16; C24; D11
Corruptive intention and anti-citizenship behavior: A study of the impact of workplace dissatisfaction among personnel in the Cameroonian public health care sector
Full text linkAbstract. This study focuses on the sociocognitive processes that generally affect actors in the public administration and undermine their values, ethics, and the sense of providing a free and equitable public service, as recognized in administrative bureaucracies. We started with the following research question: What are the direct underlying determinants of corruptible behavior among public health personnel? Through a dual analysis of correlation and mediation using structural equation modeling, a confirmatory figure was presented, demonstrating the mediating effect (Hayes, 2018) of workplace distress on Corruptive Behavioral Intention (CBI) on one hand, and Organizational Citizenship Behavior (OCB) on the other.Keywords. Corruptive intention; Anti-citizenship behavior; Workplace distress; Public health personnel.JEL. F13; F14; Q54
From Keynes’ Clearing Union to the Euro-zone and the Renminbi
Full text linkAbstract. The 1944 Bretton Woods agreement provided an international imprimatur for the dollar standard. H. D. White, the lead US negotiator, saw to it that the ability of other countries to obtain commitments from the US (via the International Monetary Fund) for loans or approval for currency devaluations would be limited. J.M. Keynes, representing Britain, in contrast proposed an International Clearing Union that would issue its own currency (“bancor”), intended to reduce systemic dependence on the dollar or on gold. The ICU would be a bank for the world’s central banks, which would allow debtor nations to borrow freely. In contrast to White’s plan, ICU creditors would be expected to reduce their balances by expanding domestic credit or other means. Insights from Keynes’ plan help to understand later developments. An ICU premise was that international reserves should be pooled, and centralized. The Bretton Woods gold-dollar standard was jeopardized during the 1960s – the Triffin dilemma -- when European creditor countries demanded gold reserves from the US. A monetary truce, proposed by Mundell, would have included 1) agreement by Europe and the US on an inflation level, and for US monetary policy to target that level; and 2) Europeans adjust their gold-to-dollar ratios to maintain the US gold stock. Monetary cooperation could thereby have created de facto international reserves. Instead, the Bretton Woods exchange rate apparatus collapsed by 1973, leaving major currencies to float. Against expectation, international demand for reserves soared. Relentless demand for US securities has contributed to deindustrialization and financial fragility, ongoing consequences of the dollar standard. And exchange rate depreciation has done little to correct account imbalances. Clearing Union concepts help to understand the euro experiment – when it nearly failed, and how it recovered. An international currency can succeed only if 1) surplus and creditor countries are both required to adjust; and 2) member countries agree on inflation objectives. Demands on China to revalue have been misguided. From the perspective of 2022, correction of account imbalances will not happen without the approval of the world’s now largest creditor – China – which is likely to resist any constrain on its actions. This is and will be a drag on the world economy.Keywords. Bretton Woods; International Clearing Union; Bancor; John Maynard Keynes; Harry Dexter White; Robert Triffin; Robert Mundell; Triffin Dilemma; Monetary truce; 1966; Euro-zone; Renminbi revaluation; Partial equilibrium models; Multi-lateral clearing; Flexible exchange rates.JEL. F02; F31; F33; F36; F38; F41; F45
Managerial communication as a lever for preventing psychosocial risks in organizations in times of crisis: the case of the Moroccan hospital sector [La communication managériale comme levier de prévention des risques psychosociaux dans les organisations]
No full textAbstract. In a fast-changing world, companies are facing many upheavals and challenges. Therefore, they must adapt to the different social, economic, technological and human changes which deeply affect their methods of organization and management. As a result, employees will be required to adopt new management methods and tools in order to guarantee stability and sustainability. Although psychosocial risks constitute a real public health problem that requires global reflection on the part of both decision-makers and managers, few studies in human resource management have focused on the determinants of these risks and more particularly their protective factors. Hence, this work falls within such a context and it is conducted in the frame of a quantitative research, aiming to put into perspective the role of managerial communication in the prevention of PSR among nursing staff in Moroccan public hospitals in times of crisis.Keywords. PSR; Managerial communication; Prevention; Crisis.JEL. I10; M50; J50
Social regulation and orientation of access trajectories to social networks amongst Cameroonian adolescents
Full text linkAbstract. The objective of this research is to establish a connection between social regulation mechanisms and the trajectory of access to social networks among Cameroonian adolescents. The study explores the various normative indications that influence social media users. It is evident that the normative and regulatory framework for accessing social networks and the internet, in general, is not sufficiently coercive and dissuasive to encourage appropriate behavior among young people in cyberspace. Strengthening adolescent security should involve stricter behavioral control, both autonomously and in negotiation with public authorities.Keywords. Social regulation; Social networks; Cameroonian adolescents.JEL. A10; E59; N16
New underlying trends in China cross-border investments
Full text linkAbstract. As global macroeconomic uncertainties there is notable shifts and oscillations in Chinese outbound investment and cross-border investment flows. This study shows China’s key investment characteristics including geographical preferences, investment compositions, and structural changes in industrial and foreign policies, such as Made in China 2025, financial liberalization, and OBOR. While these trends seem contradictory at time, more opportunities are available for nimble and creative players who could capitalize on China’s increasing demand in the new economy (“xin jing ji”), with adequate consideration of regulatory scrutinies.Keywords. Cross-border; China; Outbound; Investments; Regulations.JEL. F21; F68; O53; K23
Multidimensions of digital inequality of the TANF population
No full textAbstract. This study applies the multidimensional digital inequality framework to analyze the complex ways in which digital access varies among low-income populations. This research specifically examines the results of digital skills training for individuals receiving Temporary Assistance for Needy Families (TANF) benefits and how it shapes their Internet use as well as returns of use. The research shows the importance of the multidimensional nature of digital inequality, focusing on how access and use of digital technologies varies among individuals with formal digital literacy skills training. Findings from the research offer insight into the need for additional technological investments and multistakeholder engagement.Keywords. Digital inequality; Digital literacy skills; Digital technology; NorthStar assessment; TANF.JEL. I23; I24; I38; J15