Journal of Economic and Social Thought
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The psychology theories of waqf-giving behaviors
Get PDFAbstract. Waqf has been practiced among Muslims since long ago and many studies have been conducted on waqf in various sectors. Thus, this paper reviews the relevant literature on waqf as mechanism to know the giving behavior among Muslim. The prime objective is to study factors that influence the intention to participate in waqf together with the motivational factors that drive and direct once to act. The findings show that the theory of planned behavior combined with other fundamental behavior together with the four drives factors sorted from different studies can be used to explain the waqf-giving behaviors. The paper then developed and proposed a conceptual model to study human behavior. Such evaluations could serve as a guideline in understanding the behavior that needs to be instilled to increase giving behavior among Muslims. This paper presents a conceptual model of waqf-giving behaviors, which would be useful for further empirical research in this area. Keywords. Waqf, Motivational Factors, Theories of giving behavior, Wellbeing.JEL. D10, D11, Z12
Public policies that can be implemented to struggle with celiac disease in Turkey
Get PDFAbstract. Celiac is a digestive disorder that damages the small intestine by the ingestion of a substance, called gluten that is found in cereals, such as wheat, barley, rye and oats. The ingested foods are broken down into their components and got into the blood thanks to the projections, called villus, in the small intestine. Foods containing gluten reduce the surface area of the intestine by damaging the villus projections and foods are rendered into a non-absorbable form. As a result, nutritional deficiency along with many problems will arise. The only treatment for patients with celiac disease is a gluten-free diet. There are many problems present from unavailability of gluten-free products to the high cost. The state may intervene in celiac disease for reasons such as imperfect information, external costs, public goods, principal-agent problem, imperfect competition conditions and demerit goods. The aim of the study is to raise awareness for celiac disease in Turkey and to develop public policy recommendations that can be implemented in struggling with the disease. Keywords. Health, Public Policy, Taxation and Subsidies.JEL. I10, I18, H20
Differential approach and capabilities: An analysis for the population displaced in Colombia
Get PDFAbstracto. The conceptual framework of the capability approach proposed by Amartya Sen has never been used specifically in the dynamics of forced displacement or in the analysis of the quality of life of the population victims of the Colombian armed conflict. Reason why, this article affirms that the approach of capabilities agrees with the differential approach proposed by the Colombian Constitutional Court. Consequently, the objective is to provide a conceptual aproximation to the capability approach of Amartya Sen and differential approach proposed by the from Colombia Constitutional Court and to point out that the capability approach is relevant in the design, implementation and evaluation of public policies directed at the victim population. Similarly, recent data on the dynamics of forced displacement in the city of Bucaramanga (Colombia) are provided. Palabras clave. Sen's capability approach, Forced Displacement, Colombian Armed Conflict, capabilitarian, Amartya SenJEL. I31, I32, D63
Currency Demand, the Subterranean Economy and Tax Evasion: The Case of Tanzania
Get PDFAbstract. This paper estimates the magnitude of, and changes to the subterranean economy in Tanzania, as well as its adverse effect on tax revenue during the 1966-2015 period. To achieve this objective, the paper applies currency -ratio due to Gutmann and the traditional currency-demand approach à la Tanzi. Despite their differences, both approaches suggest the existence of a substantial size of the subterranean economy in Tanzania. This persistent large size of the subterranean economy is an important consequence of economic and social policies over the period of study. Using the currency-demand approach, the paper finds that tax evasion is positively correlated with the size and growth of the subterranean economy. Indeed, results show that the size of the subterranean economy and the magnitude of tax evasion over the 1966-2015 period, are on average, 32.7 percent and 6.6 percent of official GDP respectively. The implication of the results is that minimization of the size of the subterranean economy is necessary for effective addressing the problem of tax evasion and subsequent fiscal deficit in the long run.Keywords: Subterranean economy, Currency demand deposits, Currency demand approach, Tax evasion.JEL. E26, E41, H26, K42, O17
Socio-economic and Ecological Sustainability of Smallholder Agricultural Holdings in Bulgaria
Get PDFAbstract. The issue of adequate assessment of socio-economic and ecological sustainability of divers agricultural holdingsis among most topical academic and practical problems. It is particularly important for smallholder farms accounting for the majority of all farms in the globe. In Bulgaria unregistered farms of Natural Personsaccount for almost 98% of all farms in the country, cultivate a third of all farmlands, graze 85% of cows, 90% of sheep, and around a third of pigs, and employ almost 93% of workforce in the sectors. This article applies a holistic framework and assesses sustainability of farms of Natural Persons in Bulgaria during current stage of EU CAP implementation. Initially a new governance aspect of farm sustainability is justified and method outlined. After that assessment is made of integral, governance, economic, social, environmental sustainability of farms of Natural Persons of different size, specialization, and location, and comparative sustainability to other type of farms. Finally, directions for further research and amelioration of sustainability assessment practices are suggested. Overall sustainability of Natural Persons in the country is at a good level, with superior levels for environmental and social sustainability, close to the low level governance sustainability, and inferior economic sustainability. Comparative sustainability of holdings is lower than other juridical type. There are great variations in sustainability levels of farms of different kind and location. Share of Natural Persons with good and high sustainability is smaller than other categories of farms and majority of Natural Persons have no comparative advantages in terms of sustainability, and in a middle term will cease to exist.Keywords: Smallholders sustainability, Governance, Economic social environmental aspects, Bulgaria.JEL. Q10, Q56, R33
Missing the Peace Train in 2006: Economic and political dynamics of India Pakistan hostility?
Get PDFAbstract. The paper discusses the dynamics of peace initiatives made by Pakistan in 2006 and their importance in changing the regional dynamics in favour of increased economic cooperation in the light of the study undertaken by Murshed & Mamoon (2007) which has analysed the multiple determinants of conflict between India and Pakistan. The paper highlights the importance of peace in the region especially for Pakistan where the development potential of the country have been stifled greatly due to a long history of political and economic volatility while linking Pakistan’s progress with that of its neighbours through conflict mitigation process. The paper also presents the possibility of such dyadic economic and conflict trade off in 1990s where India may have utilised hostilities to curtail Pakistani economic potential to pressurise Pakistan to forego its support of insurgency in Indian held Kashmir. Pakistani peace initiatives in 2006 made the country as a leading factor in South Asia with a valid possibility of determining the pace and potential to realise long sought process of regional progress through greater integration of interests. However, the tangible response from Indian side was not forthcoming leading to loss of opportunities and thus creating a good explanation of Hawkish Indian behaviour 10 years down the time line in 2017. Keywords. Politic thought, economic dynamics, India, Pakistan.JEL. D72, F50, F52
Consumprion and Islam: Micro Foundations and Macro Modelling
Get PDFAbstract. Function in Islamic economics. It starts with a brief look at the microelements of the concept and clears several cobwebs concerning wants and needs, scarcity of resources, the basket of goods, and the efficacy of utility and its maximization for consumer equilibrium. The explanations narrow down the conceptual gaps between the micro and macro level articulations of the subject. Next, the paper reviews some selected macro models resting on division of income on the basis of nisab between the upper (rich) and the lower (poor) classes of society for analyzing the impact of zakah-moderation mechanism on economic growth via the saving-investment route. It is demonstrated that, contrary to the claim based on models, the positive impact of Islamic scheme on the variables studied is uncertain, to put it mildly. Finally, attention is drawn to some recent developments in the treatment of consumption in economics as also to interest being shown in the subject in other social sciences. This inter-disciplinary approach seeks to detach consumption from income and links it to wealth. It also brings in environmental and ethical concerns into the picture. The effort promises to bring the treatment of consumption closer in the two economic disciplines, secular and Islamic: it is a welcome development.Keywords: Wants and needs, Micro foundations, Utility maximization; Macro models, Scarcity.JEL. D1, D11, E2
Trends in globalization of select Asian countries
Get PDFAbstract. In this study we have constructed a composite index of globalization of select Asian countries during 1970-2014 by minimizing the Euclidean norm of Shapley values of indicator variables contributing to the overall index. As a consequence, the mean expected marginal contributions of constituent variables to the overall index are approximately equal and thus, the overall composite index represents the constituent variables optimally. We call this index the Almost Equal Marginal Contribution (AEMC) index. We find that AEMC index and the KOF index of globalization are highly correlated (Pearson’s r=0.982). We find that Singapore, Cyprus, Israel, Qatar, Malaysia, Jordan, Lebanon, Turkey, Kuwait, Bahrain and Japan have done very well and scored above 0.7. At the other end, Yemen, Tajikistan, Bangladesh, Bhutan, Iran, Nepal and Myanmar have scored below 0.5. Trends in globalization are increasing in general, but the rate of globalization, which accelerated after 1991, lost its momentum after 2007. Disparities in globalization, as measured by Gini coefficient over the countries under study, were more or less constant up to 1985 but after that they started declining. We have found that the index of globalization goes well with other socio-economic measures such as Economic Freedom Index, International Innovation Index, Social Progress Index, Human Development Index and Corruption Perception Index, showing high values of Kendall’s Tau and Spearman’s Rho. Its association with Democracy Index is rather weak but positive. It is almost uncorrelated with the Gender Gap Index. We observe, therefore, that globalization index is moving well with the indices of socio-economic condition in the Asian countries. Keywords. Globalization, Synthetic index, Asian countries, Shapley values, Equi-marginal contribution.JEL. C43, C71, F02, F60, O53
The Effect of Inward Foreign Direct Investment on Economic Growth in Chinese Provinces
Get PDFAbstract. This article examines the effect of inward foreign direct investment (FDI) on economic growth with a focus on Chinese provinces by conducting the Granger causality and impulse response tests in a vector auto-regression (VAR) estimation. The study contributes to the reviewed literature by examining the FDI effect in such comprehensive ways as demand-side and supply-side models, and by clearing the endogeneity problem of targeted variables under a VAR framework. The main findings of this study were as follows. First, the positive effect of FDI on economic growth in Chinese provinces was confirmed by all the model estimations: statistical, demand-side and supply-side models. Second, from the regional perspectives, the positive effect of FDI on economic growth was found in the eastern region, but not in the non-eastern region. Third, no crowding-out effect of FDI on domestic capital formation was identified both in demand-side and supply side analyses. Keywords. Inward foreign direct investment (FDI), Economic growth, Chinese provinces, Vector auto-regression estimation.JEL. F21, O47, O53
