European Journal of Government and Economics (EJGE, University of A Coruña)
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Do government revenues matter for economic growth? Evidence from Nigeria
Get PDFThe bursting of crude oil prices in the international market since mid-2014 has resulted in dwindling oil revenue, which has led to economic recession in Nigeria. The recession has further exacerbated existing socioeconomic problems bedeviling the country. In the light of this, we examined the effect of government revenues (oil and non-oil revenues) on economic growth, both in the short-run and the long-run using autoregressive distributed lag method. Our findings show that government revenues are indispensable to economic growth in Nigeria. In addition, we found that economic growth is more responsive to oil revenue than non-oil revenue. Based on our findings, we advocate for effective and efficient use of government revenues. Furthermore, since oil revenue fluctuates more than non-oil revenue, we further advocate for creation of an enabling business environment geared towards improving the contribution of the non-oil sector to the government revenue base
Contemporary decision making of a mid-size city in the Czech Republic using multiple-criteria decision making
Get PDFThe strategic planning process has been implemented into the local governance environment in the Czech Republic during last two decades. But the strategic goals that are expressed in the strategic development documents on the local level are only the part of the issues that are to be fulfilled or solved by the local government. In the everyday practical governance there is always a list of projects that appear from the actual technological, technical, public or political demand. The contemporary decision-making process is based on the personal or collective political decision or on the actual technical demand. But there are also municipalities that are already implementing strategic planning and want to avoid unsystematic interventions and decision-making processes. They try to adopt some attitudes from the corporate sphere to make the decision-making process more open and clear. This paper deals with the methodology of the mid-size city and tries to discuss it and offer some improvements. The paper's other goals are to offer comparison of typical projects that could be found on the local level and to make a model of results provided by the different methodologies used for the decision-making process, specifically weighted sum average and analytic hierarchy process
Regulating labour platforms, the data deficit
Get PDFIt is widely reported that there is a data deficit regarding working conditions in the gig economy. It is known, however, that workers are disadvantaged because they are not classed as employees with the result that they lack work-related entitlements and may not be protected by the social welfare safety net. Nor is this compatible with the social market economy enshrined in the European Union treaties. Two obstacles are that labour law and social policy are mainly a national competence and that platforms are reluctant to share data with regulators. In this paper I take the specific case of offline labour platforms intermediated by app and smart phone such as driving and delivering and look for new pathways between access to data and the shaping of public policy in member states with potentially legal certainty
The impact of port governance and infrastructures on maritime containerized trade on the West Coast of Latin America
Get PDFLatin American countries have historically had a strong dependence on trade, and are mostly characterized by being exporters of raw materials and importers of manufactured products. This fact has brought about a less negative impact of the world crisis on economic growth, mainly because of the high prices of raw materials. This paper focuses on this geographical area (the West Coast of Latin America) between 2008 and 2015, and adds to the literature by assessing institutional, port-related and economic factors that influence maritime transport. The analysis makes use of panel data models with fixed and random effects where the Hausman test has been applied in order to define a solid specification of all the ports, as well as to discount the particular peculiarities of each country. It is shown that the analysis of maritime transport requires the analysis of a number of variables apart from trade (volume of TEUs), infrastructures, superstructures (number of calls, gantry cranes), and that other variables, such as port governance, which are sometimes difficult to quantify, need also to be taken into account
The challenge of measuring poverty and inequality: a comparative analysis of the main indicators
Get PDFThis paper presents a review of the main available indicators to measure poverty and income inequality, examining their properties and suitability for different types of economic analyses, and providing real-world data to illustrate how they work. Although some of these metrics –such as the Gini coefficient– are most frequently used for this purpose, it is crucially important for researchers and policy-makers to take into account alternative methods that can offer complementary information in order to better understand these issues at all levels
Perceptions of gender equality in post-crisis Europe
Get PDFThe paper aims to compare the perceptions of gender equality of individuals more or less affected by economic crisis in Europe. Crisis touched the economy of most European countries but to a different extent. Special focus is given to the perceptions of gender equality of vulnerable groups (female, lesser-educated, one-adult households with children). The data is Eurobarometer 2011. The sample is limited to respondents aged 18-65. According to the results of multilevel regression analysis, those who have suffered from crisis assess lower the current level of gender equality whereas perceptions of gender equality do not differ depending on the effect of crisis upon the country. Women assess gender equality more positively compared to men. Those who live in one-adult households with children have higher perceptions of gender equality compared to those who live in other types of households. The discrepancy between lesser-educated and higher educated is larger in countries that suffered less from crisis. However, when the change in GDP per capita is taken as a measure of crisis the effects for family structure and education are not robust
The debate on the economic effects of minimum wage legislation
Get PDFThe minimum wage establishment has its origin in the first third of the last century. Since its creation has been a focus of continuing controversy and an unfinished debate on economics field. This work reviews the effects of the minimum wage on employment and other macroeconomic variables, from both theoretical and empirical perspectives. The method is based on the revision of the literature and the main economic indicators. The central contribution of this paper is providing a general reflection on theoretical and empirical analysis about the debate on minimum wage and its effects. The results showed that some labor policies are taking account the effects of austerity strategies, shifting the attention towards the implementation of minimum wages or their updating, in order to reduce the growing inequalities in the distribution of income, and even poverty levels
An optimal quantity tax path in a dynamic setting
Get PDFFollowing Ramsey, the existing literature on optimal quantity taxation only compares the pre and the post-tax market equilibriums in order to account for the efficiency losses. However, when the government imposes a quantity tax on the consumer, the buyer’s price jumps to the pre-tax equilibrium price plus the amount of the tax, and the supply and the demand of the taxed commodity then adjust over time to bring the new post-tax market equilibrium. The existing literature does not take into account the efficiency losses during the adjustment process while computing the optimal quantity taxes. This paper derives an optimal quantity tax path in a dynamic setting minimizing the efficiency losses (output and/ or consumption lost) during the dynamic adjustment process as well as the post-tax market equilibrium
Institutional quality and the wealth of autocrats
Get PDFOne frequently given explanation for why autocrats maintain corrupt and inefficient institutions is that the autocrats benefit personally even though the citizens of their countries are worse off. The empirical evidence does not support this hypothesis. Autocrats in countries with low-quality institutions do tend to be wealthy, but typically, they were wealthy before they assumed power. A plausible explanation, consistent with the data, is that wealthy individuals in countries with inefficient and corrupt institutions face the threat of having their wealth appropriated by government, so have the incentive to use some of their wealth to seek political power to protect the rest of their wealth from confiscation. While autocrats may use government institutions to increase their wealth, autocrats in countries with low-quality institutions tend to be wealthy when they assume power, because wealthy individuals have the incentive to use their wealth to acquire political power to protect themselves from a potentially predatory government
The Short Selling Regulation in the EU: Assessing the Authorization Granted for ESMA to Prohibit Short Selling
No full textThe paper discusses the renewed short selling regulation (Regulation (EU) No 236/2012) in the European Union. The focus is on the provisions that deal with prohibiting short selling in exceptional market circumstances. The Regulation further enforces certain obligations to report and disclose short positions. It is concluded that banning short selling is not an effective tool to contain extreme price volatility. The difference-in-differences regression and repeated measures GLM were used to test whether short selling bans were successful in containing volatility of those Spanish and Italian stocks that were subject to two back-to-back prohibitions during the years 2011-2013. The results are consistent with the majority of previous research, suggesting that the effectiveness of short sale constraints in reducing volatility is limited at best. Furthermore, there are evidence of counterproductive effects: constraints on short selling may actually increase volatility as well as deteriorate liquidity. However, based on theory and previous studies, reporting and disclosure requirements shall be favored provided they improve market efficiency as well as supervisory work of regulatory bodies