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Understanding the sources of high current account fluctuations in 5 developed economies
Get PDFAbstract. The global economy has, in recent times, continued to face large and unprecedented external imbalances. Despite reductions recorded in aggregate current account (saving less investment) to global output ratio, the imbalances still remain. The main contributors to the imbalances have been the world’s developed economies. These developed economies have experienced fluctuating current account balances over the years and the fluctuation has contributed to a slow correction of the imbalances. This paper identifies 5 developed economies with the highest fluctuations in current account balances and analyses the sources of these fluctuations. The countries are Singapore, Latvia, Iceland, Norway and Estonia. Results obtained suggest that 1) temporary shocks account for most current account fluctuations, and the excess response to temporary shocks is as stable and pronounced as in previous studies; 2) permanent shocks drive current account fluctuations in Iceland and Latvia but not in Norway, Estonia, and Singapore; 3) Singapore demonstrates the most support for the two-good intertemporal model, since external supply and demand shocks account for its current account fluctuations.Keywords. Current account fluctuations, two-good inter-temporal model, VAR and impulse response, V5 Economies.JEL. F32, F41, F21, C22
Exploring the Influential Factors of Cluster Cooperation in Taiwan’s Biotechnology Industry
Get PDFAbstract. In recent years, numerous countries around the world have continually devoted substantial efforts to the biotechnology industry. Despite its endeavors over two decades, Taiwan’s biotechnology industry has not yet made any remarkable achievements. In this study, influential factors of cooperation in the biotechnology industry are discussed from the perspectives of cluster cooperation and interaction. Using the analytic hierarchy process and quantitative results obtained from in-depth expert interview questionnaires, the weights of various influential factors are investigated and analyzed, which could provide a reference for future research and resource allocations. The influential factors of cluster cooperation in Taiwan’s biotechnology industry can be categorized into four major factors and sixteen sub-factors. The results indicate that among all of the factors that impact cluster cooperation in the biotechnology industry, “enterprise innovation ability” is the most critical. The innovation capacity of cooperative partners is always considered a priority in cluster cooperation among enterprises, whereas research and development (R&D), personnel quality, and the R&D environment are the most crucial sub-factors within the primary dimension of enterprise innovation ability. This finding is consistent with the fact that a biotechnology product is closely bound to innovative R&D, from its initial development stage to the eventual clinical launch. Factors of secondary importance include business management ability and government resource utilization, which suggests that the principal activities associated with cluster cooperation in the biotechnology industry depend heavily on an enterprise’s business management ability and are inextricably linked to government resource utilization.Keywords. Biotechnology industry, Cluster cooperation, Taiwan, Analytic hierarchy process (AHP).JEL. C22, O40, O43
Political Instability and Lessons for Pakistan: Case Study of 2014 PTI Sit in/Protests
Get PDFAbstract. It’s a short allegory to present the case for the importance of Political stability in the economic progress of a country. The Arab spring protests were seen as strengthening democracy in the Arab world. Notwithstanding the surprise Arab spring brought in shape of further destabilizing Middle East, a similar environment of unrest and protests in a practicing democracy like Pakistan capture same dynamics of uncertainty that dampen economic destabilization. The paper briefly covers PTI’s sit in protests in year 2014 to make a case for how political instability stifled economic progress in Pakistan though momentarily.Keywords. Political economy, Pakistan economy.JEL. D72, F59, P16
Hawking irreversibility and socio-economic derminism
Get PDFAbstract. Physicist Stephen Hawking has suggested that climate changes is about to become unstoppable. One may introduce a concept of Hawking irreversibility as the point where temperature has risen so much that the global warming consequences threaten the survival of mankind. The recent news out of China that its CO2s are increasing again makes this term highly policy relevant. Moreover, the methane emissions have started to augment, which also calls up Hawking irreversibility. The drive behind these dire developments is the endless zest for affluence and wealth, fueled by ever larger energy consumption.Keywords. Decarbonisation, Hawking irreversibility, GHCs, CO2S, Methane, COP21 Treaty goals, Solar power plants.JEL. N70, O13, P28
New Economics Books
Get PDFA wide ranged Editor Selection of economic books published within the last 3 months by the publishers (for now; Cambridge University Press, Edward Elgar, Elsevier, MIT Press, Palgrave MacMillan, Springer, Wiley, and World Scientific) which are reached out “the consensus of no copyright infringement exists” could be found under this title. Afterwards, JEL will continue to publish the economic books published within the last 3 months as listing them in its quarter edition. This is expected to enable the journal readers to follow the related literature and be aware of the new books. The list will continue to expand as accepting the books of new co-operated publishers and personal applications. The list order is organized according to book titles’ alphabetic priority
Structural capital of Malawi: Year 2005-2014
Get PDFAbstract. Not being put as a central agenda when dealing with various forms of significant capitals of a nation, structures (and processes) that carry people, actions, resources, and systems to run are very important. This paper reports the face and development of structural capital of Malawi as a rapidly developing country in Africa. The results showed that, CPIA business regulatory environment (i.e., Business competition environment), Business extent of disclosure (as it reflects Government efficiency), CPIA property rights & rule-based governance rating (Intellectual property right protection), Computers in use per capita, and Ease of doing business(i.e., Convenience of establishing new firms) remained at similar level and with less rapid growth. Positively, the number of firms using banks to finance investment (i.e., capital availability) and the Mobile phone subscribers are two factors that feature this economy’s structural/process capital strength. Theoretical and policy implications follow.Keywords. Intellectual capital, National wealth, National capital, Intangible assets, Economic growth.JEL. M10, M11, M14
New Economics Journals
Get PDFThis list is consisted of the journals that entered to EconBib Index created by KSP. The list is updated with the each volume of JEB and incorporated the new added journals to EconBib. Please visit the official EconBib website www.econbib.org to see the contents of each journal. The journals, which may want to enter to the list and be indexed by EconBib, may find the conditions in EconBib website. “The register form” in the website should be submitted to the stated e-mail address. All journals within EconBib are updated automotically when new volumes of JEB are published. Detailed information about EconBib can be found in its website www.econbib.org
Examination of The Factors Effective in The use of the e-government system with the technology acceptance model
Get PDFAbstract. In this study, it was aimed to determine the factors affecting user behaviors in adopting the e-government system with the theory of reasoned action and technology acceptance model used in the literature. In this regard, 5500 academic and administrative staff working at Atatürk and Gümüşhane universities were included in the study using the questionnaire. In consequence of the survey application, 463 questionnaires were analyzed. The Cronbach Alpha Coefficient method was used for the reliability, and the Confirmatory Factor Analysis was used for the validity of the research scales. After determining the reliability and validity of the scales, research hypotheses were tested by the Structural Equation Model. According to the analysis results, in the first model of the study, anxiety has a negative impact on perceived usefulness and perceived ease of use. On the other hand, results showed that reliance has no significant effect on perceived usefulness and perceived ease of use. Furthermore, it has been obtained that perceived usefulness is the most important factor for the attitude with a rate of 69.2%. In the second model of the study, it has been obtained that self-efficacy is the most important factor for the perceived behavior control with a rate of 82.3% and perceived behavior control is the most important factor for the perceived behavior control with a rate of 75.6%. Moreover, the actual behavior factor for adopting the e-government system in the first model was explained with more percentage than the second modelKeywords. E-Government, Electronic government, Technology acceptance model, Theory of reasoned action, Structural equation model.JEL. C38, H11, H19
3rd International conference on social sciences & education research
Get PDFAbstract. The 3rd International Conference on Social Sciences & Education Research is an academic and scientific conference which was held at Hotel Rome Pisana in Rome, Italy between April 27-29, 2017. ICSSER was organized by International Center of Social Science & Education Research, and hosted by Università degli Studi di Bergamo (Italy) and supported IJSSER-International Journal of Social Sciences & Education and JTTR-Journal of Tourism Theory and Research ICSSER has provided a scientific assembly for all participants all over the world to explore and discuss the different topics. The conference also provided an opportunity to learn about the current issues such as trends, latest statistical methodologies, best practices, statistical design, analysis and conclusion in social sciences and education research.Keywords. Accounting and finance, Behavioral sciences, Econometrics, Health care management, Management information systems.JEL. I14, I25, M41
Inflation and economic growth
Get PDFAbstract. Attempts to establish a link between inflation and economic growth are made quite regularly. The aim of such attempts is not only to determine the impact of inflation on economic growth but also to assess efficiency of the inflation rein-in policy, for example, the policy of inflation targeting. This work reveals the nature of the inter-connection between inflation and economic growth and explains why this inter-connection cannot be sustainable without considering the third parameter, i.e. money supply.Keywords. Monetary policy, Price level, Inflation, Deflation, Economic growth, Business cycles.JEL. E30, E32, E51, E52, E58, N10, O11, O40, O42