Journal Description
Economies
Economies
is an international, peer-reviewed, open access journal on development economics and macroeconomics, published monthly online by MDPI.
- Open Access— free for readers, with article processing charges (APC) paid by authors or their institutions.
- High Visibility: indexed within Scopus, ESCI (Web of Science), EconLit, EconBiz, RePEc, and other databases.
- Journal Rank: CiteScore - Q1 (Economics, Econometrics and Finance (miscellaneous))
- Rapid Publication: manuscripts are peer-reviewed and a first decision is provided to authors approximately 21.4 days after submission; acceptance to publication is undertaken in 6.5 days (median values for papers published in this journal in the second half of 2023).
- Recognition of Reviewers: reviewers who provide timely, thorough peer-review reports receive vouchers entitling them to a discount on the APC of their next publication in any MDPI journal, in appreciation of the work done.
Impact Factor:
2.6 (2022);
5-Year Impact Factor:
2.7 (2022)
Latest Articles
Comparative Analysis between Quality of Life and Human Labor in Countries Belonging to G7 and BRICS Blocks: Proposition of Discriminant Analysis Model
Economies 2024, 12(5), 124; https://doi.org/10.3390/economies12050124 (registering DOI) - 18 May 2024
Abstract
The aim of the present research is to identify and analyze the variables which help to effectively differentiate Quality of Life (QoL) and human labor in the G7 (Germany, France, Italy, Canada, Japan, United Kingdom, and United States of America—USA) and BRICS countries
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The aim of the present research is to identify and analyze the variables which help to effectively differentiate Quality of Life (QoL) and human labor in the G7 (Germany, France, Italy, Canada, Japan, United Kingdom, and United States of America—USA) and BRICS countries (Brazil, Russia, India, China, and South Africa) through a discriminant analysis. A discriminant analysis model is developed to classify countries as having a low, mid, or high QoL based on QoL and human labor variables. The variables used in the discriminant analysis were obtained between 2010 and 2022 from two platforms: NUMBEO variables capable of relating QoL to socioeconomic aspects and OECD’s (Organization for Economic Cooperation and Development) human-labor-related variables. Based on the results, the three variables that most discriminate the groups in order of importance are employed women in relation to the female population, the female labor force participation rate, and the female unemployment rate. Countries are classified as having a low, mid, or high QoL. The adopted technique will allow researchers and managers to classify and draw goals for action reorganization and investment in QoL and labor.
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(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)
Open AccessArticle
The Model of Sustainability Balanced Scorecard and Supply Chain in Port Management for Tourism
by
Krongthong Heebkhoksung
Economies 2024, 12(5), 123; https://doi.org/10.3390/economies12050123 - 17 May 2024
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The development of ports for the sake of tourism is one of the key strategies in developing and strengthening a solid foundation in the tourism industry. The integration of a supply chain into port management for the purposes of tourism that is sustainable
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The development of ports for the sake of tourism is one of the key strategies in developing and strengthening a solid foundation in the tourism industry. The integration of a supply chain into port management for the purposes of tourism that is sustainable balanced can be used as a model for planning sustainable port development for tourism purposes. However, there are scarcely any studies on this topic, while plenty focus on the general concepts involved. To fill this gap, this article presents a model of a Sustainability Balanced Scorecard for ports. The author proposes a new approach to planning port development and supply chain management for tourism, particularity to provide recommendations and further our understandings of the relationships involved in the Sustainable Balanced Scorecard from the stakeholder perspective, the learning and growth perspective, the internal process perspective, the financial perspective and the environmental perspective. Using these five perspectives, the literature review identifies 56 indicators of 15 factors that can be used in the model. Therefore, this research helps to enhance and develop sustainable and efficient conditions in tourism while reducing future risks. Moreover, the research enables stakeholders to gain an understanding of and knowledge about the sustainable development and management of ports and for tourism. The insights can be applied in policy and strategy development according to the sustainable development goals (SDGs) to accommodate social movement, environmental risk and economic inequality.
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Is Thailand Attractive to Japanese Companies?
by
Hiroaki Sakurai
Economies 2024, 12(5), 122; https://doi.org/10.3390/economies12050122 - 17 May 2024
Abstract
This study examines the relationship between the business sentiment of Japanese companies regarding promising or potential countries for investment and macroeconomic statistics, such as economic or population growth in Thailand, using data from the Survey Report on Overseas Business Operations by Japanese Manufacturing
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This study examines the relationship between the business sentiment of Japanese companies regarding promising or potential countries for investment and macroeconomic statistics, such as economic or population growth in Thailand, using data from the Survey Report on Overseas Business Operations by Japanese Manufacturing Companies from 1992 to 2022. Although investing in Thailand has been popular among Japanese companies since the late 1980s, it has seemingly become relatively inactive in recent years. The present study’s results are summarized as follows: First, the business sentiment of Japanese companies has some relationships with relatively short-term economic growth and the business cycle in the short run. Second, business sentiment depends on long-term trends, and this stance may have changed after 2020. Third, other elements, such as minimum wage or fewer young people, do not necessarily have a relationship with business sentiment. Although more studies including capital accumulation or the global value chain should be conducted, improving the sentiments of Japanese businesspersons is desirable.
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(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)
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Factors Determining the Average Price Level: A Combined Microeconomic and Macroeconomic Approach
by
Tamara Peneva Todorova and Brikena Myftarallari
Economies 2024, 12(5), 121; https://doi.org/10.3390/economies12050121 - 16 May 2024
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We analyze various determinants of the average price level using a strictly mathematical approach. Starting with the microeconomic perspective, we review the effect of demand shifters such as consumer income and the level of advertising on the average price level in a simple
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We analyze various determinants of the average price level using a strictly mathematical approach. Starting with the microeconomic perspective, we review the effect of demand shifters such as consumer income and the level of advertising on the average price level in a simple partial market equilibrium model. Then, we discuss the effect of supply shifters such as the exogenous tax level, worker wage, rental rate, and technology. We use implicit differentiation and Jacobian determinants. While government spending triggers inflation, taxes have the opposite effect. This is consistent with Keynesian theory. Money supply increases national income and prices while reducing the equilibrium interest rate. Therefore, money supply has pro-inflationary effects. The effect of money demand is the opposite—it increases the equilibrium interest rate, thereby lowering national income and prices. Augmenting the model to the level of international trade, we find that exports raise national income, the interest rate, and the average price level, while the effect of imports is just the opposite. Government spending raises the exchange rate while continuous inflation lowers it.
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Digital Economy Development, Common Prosperity, and Carbon Emissions: An Empirical Study in China
by
Jingke Gao, Wenxiao Zhou, Jinhua Cheng and Ziyuan Liu
Economies 2024, 12(5), 120; https://doi.org/10.3390/economies12050120 - 15 May 2024
Abstract
Under the new development model, the digital economy has become a new engine to promote the green development of the economy and realize the goal of “double carbon”. Based on the panel data of 30 provinces in China from 2010 to 2020, this
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Under the new development model, the digital economy has become a new engine to promote the green development of the economy and realize the goal of “double carbon”. Based on the panel data of 30 provinces in China from 2010 to 2020, this paper empirically investigates the impact of the development of the digital economy on energy and carbon emissions using a series of econometric models such as baseline regression, a mechanism test, and the spatial Durbin model, etc. Common prosperity plays an intermediary role between digital economy development and carbon emissions; digital economic development optimizes resource allocation, effectively solves the problem of uneven resource distribution, and reduces energy and carbon emissions while achieving common prosperity. In addition, green innovation, industrial structure, urbanization level, R&D intensity, and the degree of marketization also have different degrees of influence on energy and carbon emissions. Therefore, the government should accelerate the construction of new digital infrastructure and implement the digital economy development strategy according to local conditions, so as to promote the digital economy to produce a more significant carbon emission reduction effect.
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(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
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Impact of the COVID-19 Pandemic on the Economic Development of the Mining and Construction Industry: Case Study in Slovakia
by
Beátka Stehlíková, Marcela Taušová and Katarína Čulková
Economies 2024, 12(5), 119; https://doi.org/10.3390/economies12050119 - 15 May 2024
Abstract
Due to the present worldwide economic development, there is an increasing need to follow the financial health of companies in individual sectors to avoid possible decline and bankruptcy. The goal of this contribution is to find out the influence of the pandemic on
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Due to the present worldwide economic development, there is an increasing need to follow the financial health of companies in individual sectors to avoid possible decline and bankruptcy. The goal of this contribution is to find out the influence of the pandemic on the economic situation in the mining industry as the primary sector, in connection with the construction industry as the secondary sector. The research is carried out through economic and financial indicators, which mostly influence the potential crisis of companies. The results show that the mining industry and construction sectors managed to avoid the heavy decline and bankruptcy of certain organizations in the industries. Such results can be used for forecasting and modeling the socio-economic development of regions and countries. The growth of the analyzed industries could contribute to the sustainable development in the country.
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(This article belongs to the Special Issue Economics after the COVID-19)
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Analyzing the Impact of Public Capital on Private Capital Productivity in a Panel of African Nations
by
Elhadj Ezzahid and Hamid Rafik
Economies 2024, 12(5), 118; https://doi.org/10.3390/economies12050118 - 14 May 2024
Abstract
This research contributes to the ongoing discourse concerning the efficiency of public capital and its influence on the productivity of private capital and total factor productivity within African economies. Employing the standard production approach, we include public capital as a distinct input to
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This research contributes to the ongoing discourse concerning the efficiency of public capital and its influence on the productivity of private capital and total factor productivity within African economies. Employing the standard production approach, we include public capital as a distinct input to assess its specific impact on output growth and the enhancement of total factor productivity. We argue that public capital, predominantly manifesting through infrastructure, constitutes an indispensable element for fostering growth. Fundamental to the productivity of private capital is its reliance on a sufficient stock of public infrastructure for operational efficiency. Our empirical analysis reveals that public capital exhibits a substantive long-term influence on output growth and the productivity of private capital. However, in the short term, the discernible impact of public capital is less pronounced. Moreover, while public capital emerges as a noticeable factor in output growth, its influence on total factor productivity remains relatively subdued.
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(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)
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Industrial Synergy Agglomeration, Urban Innovation Capacity, and Advanced Manufacturing Development
by
Hua Yin and Wen Su
Economies 2024, 12(5), 117; https://doi.org/10.3390/economies12050117 - 14 May 2024
Abstract
This paper endeavors to construct an evaluative framework to assess the level of development in advanced manufacturing across the 31 provinces in China from 2003 to 2021. Additionally, it aims to investigate the impact of industrial synergy agglomeration on the development of advanced
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This paper endeavors to construct an evaluative framework to assess the level of development in advanced manufacturing across the 31 provinces in China from 2003 to 2021. Additionally, it aims to investigate the impact of industrial synergy agglomeration on the development of advanced manufacturing by employing a moderated mediation model and the Spatial Durbin Model (SDM). The research results demonstrate that industrial synergy agglomeration facilitates the development of advanced manufacturing, with particularly pronounced effects in the eastern region of China and the 18 provinces that already possess national advanced manufacturing clusters. Urban innovation capacity plays an intermediary role, and both manufacturing intelligence and international capacity cooperation exhibit positive moderating effects in the direct and indirect pathways through which industrial synergy agglomeration influences the development of advanced manufacturing. Furthermore, industrial synergy agglomeration exhibits strong spillover effects on the development of advanced manufacturing. To boost the development of the advanced manufacturing industry, it is imperative to expedite the establishment of an industrial synergy spatial layout, foster a culture of enterprise innovation and intelligent transformation, emphasize inter-provincial communication and cooperation, and facilitate cross-border resource integration.
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(This article belongs to the Special Issue Industrial Clusters, Agglomeration and Economic Development)
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A Measure That Really Works? Impact Evaluation of the Contribution for Self-Employment as a Tool of Active Labour Market Policy in Slovakia
by
Lucia Svabova and Barbora Gabrikova
Economies 2024, 12(5), 116; https://doi.org/10.3390/economies12050116 - 13 May 2024
Abstract
Unemployment presents a significant challenge requiring attention not only in developing countries but also in economically developed ones. Active labour market policies offer a potential solution to address this issue. This study focuses on assessing the impact of the intervention called Contribution for
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Unemployment presents a significant challenge requiring attention not only in developing countries but also in economically developed ones. Active labour market policies offer a potential solution to address this issue. This study focuses on assessing the impact of the intervention called Contribution for Self-employment provided under the Act on Employment Services No. 5/2004 Coll in the Slovak Republic. This financial support is extended voluntarily to unemployed individuals seeking jobs and aims to partially defray the expenses associated with launching business ventures. The primary objective of this research is to quantify the effectiveness of the Contribution for Self-employment in enhancing the employment of its recipients, thereby gauging its efficacy in reducing unemployment. The evaluation employs a counterfactual impact assessment methodology, utilising propensity score matching for analysis, with propensity score estimated by the logistic regression. Data from the registry of jobseekers maintained by the Central Labour Office of Social Affairs and Family in Slovakia are utilised in this analysis. This study’s findings indicate a favourable impact of the contribution on the employment of its participants compared to the comparable non-participants. Consequently, this intervention emerges as a viable mechanism for supporting entrepreneurship and mitigating unemployment in Slovakia.
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(This article belongs to the Special Issue The Impact of Public Policies (Product and Labour Market Regulations and Institutions and Education Policies) on Employment, Unemployment and Human Capital)
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The Impact of the Great Recession on Well-Being across Europe Ten Years On: A Cluster Analysis
by
Elisabetta Croci Angelini, Francesco Farina and Silvia Sorana
Economies 2024, 12(5), 115; https://doi.org/10.3390/economies12050115 - 10 May 2024
Abstract
To evaluate variations in the well-being dimensions of European citizens, we rely upon Principal Component Analysis methodology, whereby a large set of interrelated indicators are reduced to a small number of aggregate synthetic variables. We find that the 2008 crisis impinged differently on
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To evaluate variations in the well-being dimensions of European citizens, we rely upon Principal Component Analysis methodology, whereby a large set of interrelated indicators are reduced to a small number of aggregate synthetic variables. We find that the 2008 crisis impinged differently on the various dimensions of well-being. The evolution of the indicators has affected different clusters of countries in various ways. Most importantly, we observe that there has been a shift of the principal component from the poor in terms of material deprivation to the risk of poverty for the worsening conditions in the labor market.
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(This article belongs to the Special Issue Income Distribution, Inequality and Poverty: Evidence, Explanations and Policies)
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Asymmetric Exchange Rate Effects on Trade Flows in India
by
Niloufer Sohrabji
Economies 2024, 12(5), 114; https://doi.org/10.3390/economies12050114 - 9 May 2024
Abstract
This paper examines the role of exchange rate changes on India’s trade. The drivers of exports and imports (income, exchange rate including sectoral differences, and exchange rate variability) are estimated for the short and long run including a structural break. Using annual data
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This paper examines the role of exchange rate changes on India’s trade. The drivers of exports and imports (income, exchange rate including sectoral differences, and exchange rate variability) are estimated for the short and long run including a structural break. Using annual data from 1994 to 2022, the results of dynamic fixed effects estimation show that both exports and imports are income-elastic in the short and long run, but income elasticity is far stronger for exports. Moreover, exports are responsive to the real effective exchange rate in the short run but not in the long run, and the reverse is true for imports. Furthermore, exchange rates have asymmetric effects for high-volume and primary sectors for exports and imports. The combined impacts show the ineffectiveness of using currency depreciation to address trade imbalances.
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(This article belongs to the Special Issue Exchange Rates: Drivers, Dynamics, Impacts, and Policies)
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Empowering Pakistan’s Economy: The Role of Health and Education in Shaping Labor Force Participation and Economic Growth
by
Muhammad Umair, Waqar Ahmad, Babar Hussain, Costinela Fortea, Monica Laura Zlati and Valentin Marian Antohi
Economies 2024, 12(5), 113; https://doi.org/10.3390/economies12050113 - 9 May 2024
Abstract
The labor force is a crucial factor in conducting economic activities, especially in labor-surplus countries like Pakistan. In this study, we explore the impact of labor force participation (LF) on economic growth (EG), with an emphasis on how this impact depends on the
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The labor force is a crucial factor in conducting economic activities, especially in labor-surplus countries like Pakistan. In this study, we explore the impact of labor force participation (LF) on economic growth (EG), with an emphasis on how this impact depends on the levels of health and education expenditures. We analyze time series data from Pakistan spanning from 1980 to 2022, using ARDL (Autoregressive Distributed Lag), ECM (Error Correction Model) and Granger causality techniques for empirical analysis. The ARDL results indicate that LF significantly boosts EG, both in the short and long run. Furthermore, the estimations reveal that better facilities for health and education strengthen the positive effects of LF on EG. This suggests a complementary relationship between health, education, and LF in driving EG. Moreover, our findings highlight the temporal significance of health and education: Health plays a more crucial role in the short run, while education’s impact is more substantial in the long run. Furthermore, the Granger causality results indicate that LF, health, and education significantly contribute to EG. It is advisable for the government to prioritize investments in the health and education sectors. This approach can empower individuals to actively and effectively participate in economic activities, eventually contributing to the overall economic output of the nation.
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(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)
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Investigating the Effects of the COVID-19 Pandemic on Stock Volatility in Sub-Saharan Africa: Analysis Using Explainable Artificial Intelligence
by
Mbongiseni Ncube, Mabutho Sibanda and Frank Ranganai Matenda
Economies 2024, 12(5), 112; https://doi.org/10.3390/economies12050112 - 8 May 2024
Abstract
This study examines the impact of the COVID-19 pandemic on sector volatility in sub-Saharan Africa by drawing evidence from two large and two small stock exchanges in the region. The analysis included stock-specific data, COVID-19 metrics, and macroeconomic indicators from January 2019 to
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This study examines the impact of the COVID-19 pandemic on sector volatility in sub-Saharan Africa by drawing evidence from two large and two small stock exchanges in the region. The analysis included stock-specific data, COVID-19 metrics, and macroeconomic indicators from January 2019 to July 2022. This study employs generalized autoregressive conditional heteroskedasticity (GARCH) models to estimate volatility and Explainable Artificial Intelligence (XAI) in the form of SHapley Additive exPlanations (SHAP) to identify significant factors driving stock volatility during the pandemic. The findings reveal significant volatility increases at the onset of the pandemic, with government stringency measures leading to increased volatility in larger exchanges, while the introduction of vaccination programs helped to reduce volatility. Weaker macroeconomic fundamentals impact volatility in smaller exchanges. The healthcare sector has emerged as the most resilient, while non-essential sectors, such as consumer discretionary, materials, and real estate, face greater vulnerability, especially in smaller exchanges. The research findings reveal that the heightened stock market volatility observed was mainly a result of the government’s actions to combat the spread of the pandemic, rather than its outbreak. We recommend that governments introduce sound policies to balance public health measures and economic stability, and that investors diversify their investments to reduce the impact of pandemics.
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(This article belongs to the Section Macroeconomics, Monetary Economics, and Financial Markets)
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Analyzing Fiscal Sustainability in Latin American Countries: A Time–Frequency Perspective
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Nini Johana Marín-Rodríguez, Juan David Gonzalez-Ruiz and Alejandro Peña
Economies 2024, 12(5), 111; https://doi.org/10.3390/economies12050111 - 8 May 2024
Abstract
This study examines fiscal sustainability in Latin American countries from a unique time–frequency perspective, focusing on Brazil, Chile, Colombia, Peru, and Mexico from 1997 to 2022. Using wavelet coherence analysis, it uncovers dynamic relationships between government revenue and expenditure over different time horizons,
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This study examines fiscal sustainability in Latin American countries from a unique time–frequency perspective, focusing on Brazil, Chile, Colombia, Peru, and Mexico from 1997 to 2022. Using wavelet coherence analysis, it uncovers dynamic relationships between government revenue and expenditure over different time horizons, revealing varying causality patterns across countries and periods. The findings underscore the importance of balanced fiscal planning and resource allocation to ensure fiscal sustainability and support economic growth. This research contributes to a deeper understanding of Latin America’s economic landscape and provides valuable insights for policymakers, economists, and stakeholders concerned with the region’s economic stability and development.
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(This article belongs to the Special Issue Fiscal Policy and Macroeconomic Stability)
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Examining the Shifting Dynamics of the Beveridge Curve in the Turkish Labor Market during Crises
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Jamilu Said Babangida, Asad Ul Islam Khan and Ahmet Faruk Aysan
Economies 2024, 12(5), 110; https://doi.org/10.3390/economies12050110 - 7 May 2024
Abstract
Following the global financial crisis, an increasing amount of attention has been directed towards examining the Beveridge curve (BC), which indicates the relationship between unemployment and vacancy rates. This research analyzes the unemployment–vacancy rate dynamics in the Turkiye labor market during both the
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Following the global financial crisis, an increasing amount of attention has been directed towards examining the Beveridge curve (BC), which indicates the relationship between unemployment and vacancy rates. This research analyzes the unemployment–vacancy rate dynamics in the Turkiye labor market during both the global financial crisis and COVID-19 periods. The findings from this study demonstrate that the labor market exhibits deteriorating efficiency, as evidenced by movement of BC away from the origin. The unemployment and vacancy rates both increase over time, with a leftward (rightward) shift of BC during the global financial crisis (COVID-19) period. The study also reveals that both crises had no significant effect on unemployment–vacancy rate dynamics. In the Turkish labor market, there exists a situation where the vacancy rate is in shortfall of the unemployment level in Turkiye. This creates a positive relationship between these two factors. The labor market in Turkiye experiences inefficiencies as it struggles to generate a sufficient number of jobs to meet the demand from job seekers.
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(This article belongs to the Special Issue Labour Economics)
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Is There a Link between Remittances, Capital Formation, Structural Transformation and Economic Growth? A Dynamic Panel Analysis for Latin America under the PVAR Approach
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Eduardo Germán Zurita Moreano, María Gabriela González Bautista, Juan Pablo Vallejo Mata and Víctor Dante Ayaviri-Nina
Economies 2024, 12(5), 109; https://doi.org/10.3390/economies12050109 - 6 May 2024
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The literature has mainly focused on analyzing the relationship of remittances with economic growth and social welfare, neglecting more complex aspects where remittances can have relevant implications. To contribute to the literature, the objective of this research is to examine the dynamic relationship
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The literature has mainly focused on analyzing the relationship of remittances with economic growth and social welfare, neglecting more complex aspects where remittances can have relevant implications. To contribute to the literature, the objective of this research is to examine the dynamic relationship between remittances, capital formation, structural transformation and economic growth in 15 Latin American countries during the period 1996–2019. To meet the objective, a panel vector autoregressive regression (PVAR) model was estimated, focusing on the analysis of the impulse-response function and variance decomposition. The results show a positive effect of remittances on economic growth and capital formation and a negative effect of remittances on structural transformation for initial periods and positive for later periods, framing a non-linear relationship. In addition, it was determined that structural transformation does not have a significant impact on economic growth. Finally, it was found that capital formation has a partial positive effect on economic growth. It is concluded that public policies should generate support mechanisms for the efficient channeling of these resources so that they become engines of growth.
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The Impact of the Stimulus Packages on the Economy during COVID-19 in Bangladesh: A Mixed-Method Approach
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Ruhul Amin, Nahian Rahman, Samira Tasnim, Sima Rani Dey and Mohammad Tareque
Economies 2024, 12(5), 108; https://doi.org/10.3390/economies12050108 - 5 May 2024
Abstract
With the unexpected onset of COVID-19, governments across the world responded with a range of preventive measures, including the imposition of lockdowns. To mitigate the adverse effects of lockdowns arising from supply chain shocks and employment loss, governments worldwide chose to implement policies
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With the unexpected onset of COVID-19, governments across the world responded with a range of preventive measures, including the imposition of lockdowns. To mitigate the adverse effects of lockdowns arising from supply chain shocks and employment loss, governments worldwide chose to implement policies to stimulate their economies and keep them working. This study assesses the impact and effectiveness of four of these packages in Bangladesh, employing a mixed-method approach. These packages include “salary support for workers in export-oriented RMG industries”, “working capital loans for affected industries and service sectors”, “working capital loans for cottage, micro, small, and medium enterprises”, and initiatives for “revitalizing the rural economy and job creation”. Each package was examined individually because of their differences in beneficiary groups, implementation methods, and individual objectives. Quantitative analysis involved propensity score matching (PSM), the difference in difference model (DID), and structural equation modelling (SEM). Stakeholders, including policy implementers, Bangladesh Bank officials, policy analysts, academics, workers, and beneficiaries, contributed to the qualitative analysis through extensive key-informant interviews, providing a comprehensive assessment of intervention outcomes. Ultimately, the results show that the packages achieved their socio-economic relief objectives for beneficiaries. The research examined both positive impacts and challenges in their implementation. It suggests that all four packages successfully achieved their goals, such as providing social and economic support, sustaining livelihoods, addressing marginalized groups’ needs, ensuring survival for large industries and small businesses, and promoting employment. In order to better address future shocks, establishing a beneficiary database integrated with the national system is recommended for smoother policy rollout. Despite acknowledged limitations, including challenges in beneficiary identification, data availability, and time constraints, the study’s unbiased estimations provide valuable insights to guide future policy directions in similar situations.
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(This article belongs to the Special Issue Economics after the COVID-19)
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Water For Food in Euphrates–Tigris River
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Abdelmoneim Bahyeldin Mohamed Metwally, Mai M. Yasser and Merna Ahmed
Economies 2024, 12(5), 107; https://doi.org/10.3390/economies12050107 - 3 May 2024
Abstract
Water scarcity is an important threat to food security in the Euphrates–Tigris river. Water scarcity is a huge worldwide problem that results from the rapid increase in water demand, which exceeds the amount of available water. The most significant problems currently affecting countries
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Water scarcity is an important threat to food security in the Euphrates–Tigris river. Water scarcity is a huge worldwide problem that results from the rapid increase in water demand, which exceeds the amount of available water. The most significant problems currently affecting countries are food insecurity water scarcity. The Euphrates–Tigris river countries suffer from different political issues, such as the Syrian war and internal civil conflicts in Iraq. In addition, this area consists of only three countries: Iraq, Syria, and Turkey, but it affects the entire Middle East. Turkey has established many irrigation projects compared to Iraq, which still suffers from the previous American invasion. Therefore, this study examines the Euphrates–Tigris river (using two countries) to examine the relationship between water scarcity and food security from 1992 to 2020. This study will be conducted using a fixed and random regression approach over 18 years. The results show a negative relationship between water scarcity and food security in the short run, at a 10% significance level, and a long-term positive relationship of 1%. Thus, the use of research and development and the encouragement of investments will help policymakers to develop a nexus between water scarcity and food security.
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(This article belongs to the Special Issue Demographics and Regional Economic Development)
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Influence of the Russia–Ukraine War and COVID-19 Pandemic on the Efficiency and Herding Behavior of Stock Markets: Evidence from G20 Nations
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Bilal Ahmed Memon, Faheem Aslam, Hafiz Muhammad Naveed, Paulo Ferreira and Omonjon Ganiev
Economies 2024, 12(5), 106; https://doi.org/10.3390/economies12050106 - 1 May 2024
Abstract
Efficiency in stock markets is essential for economic stability and growth. This study investigates the efficiency and herding behavior of the stock markets from the top economies of the world (known as G20 countries). We classify stock market indices using MSCI classification for
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Efficiency in stock markets is essential for economic stability and growth. This study investigates the efficiency and herding behavior of the stock markets from the top economies of the world (known as G20 countries). We classify stock market indices using MSCI classification for the developed and emerging markets to provide a comparative examination using the latest data and by employing the robust multifractal detrended fluctuation (MFDFA) method. In addition to the full sample, the analysis uses sub-sample periods to reveal the hidden features and efficiencies of the G20 markets during the Russia–Ukraine War and COVID-19 for the first time. The findings show the availability of varied multifractality among all G20 stock markets during the overall and crisis periods, exhibit long-range correlations, and may support the fractal market hypothesis. In addition, Italy remains the least efficient, while Germany remains the most efficient stock market. The sub-sample results further reveal unevenness in the local fluctuations and resultant higher inefficiency considering the sheer magnitude and impact of crises on the G20 stock markets. However, the efficiency of developed stock markets performed better as compared to emerging markets. The study of G20 stock markets is useful and provides several implications for a wider audience.
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(This article belongs to the Special Issue Economics after the COVID-19)
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The Nexus between Oil Consumption, Economic Growth, and Crude Oil Prices in Saudi Arabia
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Kolthoom Alkofahi and Jihen Bousrih
Economies 2024, 12(5), 105; https://doi.org/10.3390/economies12050105 - 29 Apr 2024
Abstract
The energy revolution in Saudi Arabia has accelerated significantly since 2016, driven by the National Vision 2030. Significant changes to energy subsidies took place, and the renewable energy sector has seen rapid growth. The paper presents an empirical analysis of the Saudi energy
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The energy revolution in Saudi Arabia has accelerated significantly since 2016, driven by the National Vision 2030. Significant changes to energy subsidies took place, and the renewable energy sector has seen rapid growth. The paper presents an empirical analysis of the Saudi energy transition by emphasizing the drivers of fuel consumption in KSA. It primarily attempts to explore the long-run (LR) connection between oil consumption and several economic variables such as economic growth, crude oil prices, investment, and the labor force in Saudi Arabia (KSA) from 1991 up to 2021. The paper implemented the vector error correction model (VECM) and performed different diagnostic tests to provide more evidence about the validity and robustness of the tests. The empirical findings highlighted how important the labor force, savings, GDP, and crude oil price are in determining oil consumption for KSA. The law of demand is significantly present, which negatively affects oil consumption for KSA as an oil exporting country. The results also supported the existence of a long-term direct correlation between the variables and oil consumption. Furthermore, the short-term estimation highlighted that only saving has a negative impact on oil consumption for a single lagged period. Our findings provide governments and regulators with further incentive to slow the expansion in oil consumption, as a larger labor force is demanding more oil to attain the target, faster economic growth, and increased savings are all contributing factors. Our findings are significant because they can assist policymakers, investors, and regulators in generating more efficient oil substitutes and making them affordable for the economy.
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