Purpose – The paper aims to show that economic theory has become “desocialised” and separated from social theory through the adoption of individualistic methods and neglect of social relations and structures. It also seeks to assess the upshot of these trends, as well as the prospects for reversing them. Design/methodology/approach – A historical overview traces how the social conten…
Purpose – The purpose of this paper is to understand why the neo-Thomist natural law approach to social economics does not represent a trustworthy epistemological reference for the current social economists but, rather, definitively belongs to the past history of economics. Design/methodology/approach – The approach ventures beyond an epistemological, methodological, and historical anal…
Purpose – The purpose of this paper is to examine the role of activism in determining the identity of the “green” median voter and the influence of the green voter on environmental regulatory stringency in the US states. Design/methodology/approach – Regulatory stringency is measured using output weighted abatement spending and an industry concentration adjusted index of state envir…
Purpose – Emerging evidence revealed a high rate of dependence of marginal people on forest resources in developing countries for both subsistence use and cash income. The purpose of this paper is to examine the rural livelihoods welfare dimensions of community forest income in south-western Nigeria. Design/methodology/approach – Forest activities and income pattern data were collected f…
Purpose – The literature shows economics students to be more market oriented than students from other disciplines. A major shortcoming of this work, however, is that it is based on research carried out in the west. The purpose of this paper is to examine the attitudes of Turkish economics students’ towards markets. Design/methodology/approach – The study reported here uses a survey de…
Purpose – This study is an attempt to examine the role of sub categories of government expenditures under democratic and military regimes in Pakistan for the period of 1972-2009. Design/methodology/approach – This study exercised autoregressive distributed lag (ARDL)model. Findings – The results show that contractionary fiscal expansion occurs in Pakistan. Moreover, the coefficient of…
Purpose – This article aims to provide a response to the papers in this issue. Design/methodology/approach – The methodology employed is philosophical. Findings – In her response, Nussbaum thanks the authors for their contributions and addresses their most salient arguments. Originality/value – Nussbaum in this article responds to the papers in this issue of IJSE and addresses the …
Purpose – This article aims to examine how investor moods and aggressiveness differ in their state and influence investor stock market performance associated with the moon phase. The mechanisms and impact of full moon gravity on investor stock trading performance are explored through an experimental approach and econometrics model. Design/methodology/approach – A time-series quasi-exper…
Purpose – The purpose of this paper is to weigh the benefits and costs of public property, as opposed to private, from the transaction cost perspective. In the absence of transaction costs, private property has clear advantages over public. However, when the true costs of running an economic system are taken into account, the advantages of private property are not so evident and public pro…
Purpose – The central contribution of the paper aims to provide a new way of thinking and reflecting about using a more critical public policy approach as opposed to the heretofore dysfunctional dichotomist approach common to the immigration policy debate. Design/methodology/approach – Using critical theoretical approaches primarily based on Debord and Agamben, the author compares and c…
Purpose – The purpose of this paper is to address the problem of job satisfaction determinants of higher education graduates across six selected study domains. Design/methodology/approach – Based on the theoretical considerations, derived from human capital theory and signalling theory, the authors formulate the model explaining job satisfaction as a broad measure of labour market succe…
Abstract: This paper documents the major trends in debt (bank and bond) markets in emerging economies since the early 1990s, when these markets started expanding. The paper shows that banks have increased in size in most emerging economies though from low bases. But bond markets have expanded even more, gaining importance relative to banks. The nature of financing has also changed. Local curre…
Abstract : It is argued that the European Union and the Eurozone in particular are only able to survive if they succeed in avoiding and/or overcoming real divergence and excessive macroeconomic disequilibria. The mainstream view in economics is that a monetary union is only efficient or rather sustainable if either there is a certain degree of structural homogeneity, that is if there has been r…
Abstract : This paper examines the various stages of the sovereign debt crisis of the euro area, the ensuing re-segmentation of several financial market segments and the disruptions in the transmission of monetary policy impulses. The paper provides the first systematic attempt to describe the European Central Bank's (ECB's) monetary policy during these 6 years of a mutating crisis. Its main co…
Purpose – The purpose of this paper is to analyse to what extent religious beliefs, understood as part of an individual’s cultural background, can explain an individual’s willingness to work. In particular the paper links individuals’ willingness to increase their working time with their religious denomination and their religious commitment. This relationship is studied in six Europe…
Purpose – The purpose of this paper is to focus on the impacts of overweight and obesity on the probability of employment, wages, and the incidence of sick-leave days by gender, in Russia, over the transition period, 1994-2005. Design/methodology/approach – The authors uses panel data and appropriate instrumental variables techniques to estimate a set of three models. Findings – The …
Purpose – This paper attempts to investigate the conceptual foundations of methodological inquiry in Islamic economics. The paper aims to develop criteria of acceptance and rejection of a theory and providing rationalizations and guidelines in the process of theory appraisal and evaluation. Design/methodology/approach – The literature on Islamic economics especially in the area of metho…
Purpose – The purpose of this paper is to discuss the mentality of humanity in present times, the structure of human life nowadays and tries to prove that under these it is impossible to solve the problem of getting humankind out of an environmental crisis. Design/methodology/approach – The paper investigates the ingredients of human life today, i.e. social political and economic aspect…
Purpose – This paper aims to explain how economics severed itself from the moral constraint of community and from ethics. Design/methodology/approach – The paper utilizes respected economic histories (e.g. Tawney, Polanyi, Heilbroner) and analyzes central theoretical texts of modern capitalism (e.g. Adam Smith). Findings – This paper concludes that the divorce of economics from commun…
Purpose – This paper aims to compare Pareto optimality for altruistic and individualistic societies to show whether it is possible to have Pareto improvement through altruistic acts even after free market equilibrium. Design/methodology/approach – The paper follows conceptual, axiomatic and theoretical approaches to show Pareto efficiency in altruistic versus individualistic societies. …
Purpose – This study aims to explore Taiwan’s potential for bioenergy production using feedstocks grown on set-aside land and discusses the consequent effects on Taiwan’s energy security plus benefits and greenhouse gas (GHG) emission. Design/methodology/approach – The Modified Taiwan Agricultural Sector Model (Modified TASM), based on price endogenous mathematical programming, was …
Purpose – The purpose of this paper is to provide a big picture of the current context of Chinese economy, the government policies on agriculture, and the role of agricultural risks and risk management against this background. Design/methodology/approach – The new Chinese economic challenges are laid out upfront. Relevant agricultural issues are then provided, with statistics; next, ris…
Purpose – The purpose of this paper is to see if economic regionalization in Asia is a trend for the future, and if it heralds educational regionalization, thus uniting economic internationalization and education. Design/methodology/approach – This has been shown to be the case in the European Union where it is still a work in progress and may well be sliding backward, and it is certain…
Purpose – The purpose of this paper, based on the institution change theory, is to analyze the factors which influence the auditees’ demand for government performance auditing (GPA). Design/methodology/approach – This study acquired the data by survey. The author investigated the government officials and the state-owned enterprises and institutions’ senior managers from 28 provinces…
Purpose – The purpose of this paper is to investigate the chaotic dynamics behaviours and chaos control of differentiated Bertrand model. Design/methodology/approach – The paper analyzes a nonlinear differentiated Bertrand duopoly game by using the theory of bifurcations of dynamical system, where players have heterogeneous expectations and nonlinear cost function: two types of players …
Purpose – The purpose of this paper is to evaluate threshold effects in the persistence of South African aggregate inflation data. Design/methodology/approach – The conventional approach for assessing the degree of persistence within an inflation process is via its integration properties. This study makes use of univariate threshold autoregressive (TAR) models and associated unit root t…
Purpose – The purpose of this paper is to stress the role that several defective theories or views of the world played in generating the subprime financial crisis. Design/methodology/approach – This is done by describing these views, showing that they were widely held by relevant decision makers, and by analyzing the flaws in these views. A considerable amount of literature is surveyed …
Purpose – The purpose of this paper is to examine empirical characteristics of two commonly mentioned expressions of international financial crisis, “sudden stops” and currency crises. Design/methodology/approach – Sudden stop and currency crisis events are identified and empirical regularities among them are analyzed based on the annual data of 25 emerging market countries from 199…
Purpose – There has been significant interest in the classification of exchange rate regimes in order to investigate a wide range of hypotheses. Studies of the effects of exchange rate regimes on crises and other aspects of economic performance can have important implications for policy choices. The paper provides a guide to the major new large data sets that classify exchange rate regimes…
Purpose – The purpose of this paper is to study the short-term macroeconomic effects of the fiscal policy in Colombia for the 1980-2007 period using a structural vector autoregression (SVAR) model. Design/methodology/approach – The authors’ benchmark is a five-variable SVAR model which includes government spending, output, tax revenues, inflation and short-term interest rates. In addi…
Purpose – The purpose of this paper is to show how network analysis can be used for effective cross-border financial surveillance, which requires the monitoring of direct and indirect systemic linkages. Design/methodology/approach – This paper illustrates how network analysis could make a significant contribution in this regard by simulating different credit and funding shocks to the b…
Purpose – Class action (CA) has long been used in practice (mainly in the USA) and studied by academics especially in the shareholder protection area. This paper aims to apply the same practice within the current financial meltdown context. Design/methodology/approach – The paper faces the issue by comparing ex ante regulation with an ex post regulatory system, basically dependent on th…
Purpose – As a major agricultural province in central China, Hubei Province mainly carries out the peasant household credit investigation system through rural credit cooperatives (RCCs). The purpose of this paper is to evaluate the efficiency of the peasant household credit investigation system in Hubei RCCs and provide some evidence and ideas to the formulation of relevant policies. Desi…
Purpose – The purpose of this paper is to quantify the implications of China’s recently adopted agricultural policies on domestic and international commodity markets. Design/methodology/approach – A systematic, quantitative analysis is applied to address whether China’s recent trade and production policies distort China’s domestic and international commodity markets. The paper pro…
Purpose – The purpose of this paper is to identify common inclusive concepts that might help define the boundaries of a general theory of behavioral finance. Design/methodology/approach – A cross disciplinary review of relevant natural and social sciences is conducted to identify common foundational concepts. Findings – The overall findings are that a general theory must include assum…
Purpose – The paper draws on the key themes raised at a Round Table discussion on behavioural finance attended by academics and practitioners. The paper provides a background to the key aims of behavioural finance research and the development of the discipline over time. The purpose of this paper is to indicate some future research issues on behavioural finance that emanate from the financ…
Purpose – After Ma Yingjeou’s re-election in 2012, Mainland China and Taiwan will continue cooperation in economic fields. The purpose of this paper is to undertake research on a bilateral investment agreement (BIA) between Mainland China and Taiwan. Design/methodology/approach – The paper uses statistics to demonstrate the growing cross-strait investment and incompetent contemporary …
Purpose – The purpose of this paper is to study the long-run relationship between economic growth and income inequality in China during the pre-reform (1952-1978) and post-reform (1979-2007) periods, this will be done via cointegration analysis. Design/methodology/approach – The aim of this paper is to offer a proper answer to the issue of the inequality-growth nexus by using a cointegr…
Purpose – The purpose of this paper is to analyze the economic relation between China and Nigeria in the area of foreign direct investment (FDI). Design/methodology/approach – The study employed the use of quantitative (descriptive analysis such as ratios, percentages and correlation as well as cross tabulations), qualitative (key informant interviews and surveys) and case studies – f…
Purpose – The purpose of this paper is to test geographic and economic distance of industrial agglomeration. Design/methodology/approach – Based on a recent census database in China, we estimate the production function of Chinese firms, focusing on the impact of agglomeration economies. Findings – The estimation results provide strong evidence that agglomeration effects decline with …
Purpose – The purpose of this paper is to examine whether there are any systematic relationships between the characteristics of each study about immigrants’ pro-trade impacts and its results. Design/methodology/approach – A meta-analysis of 24 papers and 184 estimates that study the trade-creating network effects of immigrants is employed. Findings – The paper finds that, first, imm…
Purpose – The purpose of this paper is to examine the daily and overnight volatility spillover effects in common stock prices between China and G5 countries and explain their implications on the basis of empirical results. Design/methodology/approach – The analysis utilizes the exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model, the cross-correlation fu…
Purpose – The purpose of this paper is to build a theoretical framework that identifies the important skills for successful export from different business areas and make an empirical ranking of their importance. Design/methodology/approach – A survey containing 88 practical export skills, selected from the existing literature, was sent to 800 Chinese exporting companies in major Eastern…
Purpose – The purpose of this paper is to bring out with analytical argumentation and mathematical treatment the central problem of Islamic economics, finance, institutionalism and socio-scientific thought as it is being practiced today and for some time now. The problem arises from the failure of contemporary Islamic intellection to formulate its methodology according to the cardinal prin…
Purpose – This paper aims to determine the importance of the Islamic banks in the monetary transmission process in the Malaysian economy. In particular, the paper analyzes the relevance of Islamic banks’ financing and deposit in channelling the monetary policy effects to the real economy. Design/methodology/approach – The paper relies on the co-integration test, impulse response funct…
Purpose – Although the importance of the elasticity of substitution between capital and labour (s) has been recognized in many areas in economics, this parameter has not received enough attention in economic growth. The purpose of this paper is to review the recent development in the importance of s in economic growth. Design/methodology/approach – This paper specifically reviews the po…
Purpose – The purpose of this paper is to discuss implications of the global crisis for economic and financial research and policy. Design/methodology/approach – The paper reviews many recent studies on the crisis and offers the author’s views on some of the most important lessons to be drawn from the crisis Findings – The review counters views that the crisis reflected a basic fail…
Purpose – The purpose of this paper is to investigate whether mining can serve as a pathway for economic development despite the environmental externalities. The extensive literature on the ‘‘resource curse’’ phenomenon at the national level generally finds that economic dependence on mineral resources is associated with lower levels of economic growth. This paper shows that furthe…
Purpose – This paper aims to argue that in the short history of New Zealand banking, political experimentation, based at first upon socialist ideology of the 1940s led to the nationalisation of The Bank of New Zealand (BNZ), followed by a period of neo-liberalism in the 1980s and early 1990s in which the bank was privatised. It further argues that the establishment of Kiwibank Ltd in New …
Purpose – The purpose of this paper is to examine Fritz Machlup’s method and use of scenario analysis in the policy discussions around exchange rate solutions to balance of payments problems. Design/methodology/approach – The qualitative research on which this paper is based is the sociohistorical biographical approach, based on a close examination of published works and archival mate…