Journal of Economics and Public Finance

Published by Scholink Co, Ltd.
Print ISSN: 2377-1038
Purpose: This study aims to investigate Greek bank card holders’ behavior and verify the use of this means of payment against cash in their various transactions.Methodology: A variety of econometric and behavioral models were used to capture those factors that can affect satisfaction and attitude towards bank cards and behavioral intention to continue using them, in conjunction with the choice of using this payment method over cash, during the Covid-19 period in Greece.By performing Factor Analysis, Multiple Logistic Regression, Structural Equation, and Multiple Linear Regressions Models, it was proved that factors such as transaction security, acceptance of the payment, ease of use, and the characteristics of bank cards could be influencing the use of such banking products. Exceptional were the findings regarding the influence of the type of good, the sector, and transaction size, on the choice of payment method. In addition, individuals’ perceptions about the prestige and benefits offered by bank cards against cash, in combination with elements of an individual’s personality, such as materialism and compulsive buyers, were equally important factors that could enhance the use of these banking products in Greece.Originality: The novelty of this study lies in the fact that a variety of different econometric and behavioral models were used to investigate in-depth personal factors and factors related to the conduction of transactions that both affect the use of bank cards and cash at a time that Greek transactions require to be contactless.
Regression Estimates for Temperature Rise Based on Energy Consumption
Number of Bhadla Solar Park Plants Required to Replace Coal Power by Country
Has COVID-19 changed the world forever? Is it the signal to treat Nature differently and mobilise effective policies against global warming? Well-known commentators on climate change argue thus, but this argument is wrong. COVID-19 is entirely different from global warming. And COVID-19 will ruin the states: How to pay for both lockdown and energy transformation?
The sudden epidemic has a huge impact on the global economy. This paper takes the International crude oil and the SSE Industry Index as the research objects to explore the linkage between the two markets under COVID-19. We use DCC-GARCH to study the dynamic correlation between the two markets before and after the outbreak. The PCA-GARCH model is further used to verify whether there is a spillover effect between the two markets, and finally the time-varying spillover index is used to quantify the spillover effect. The results show that the epidemic has strengthened the overall connection between the two markets. In particular, the correlation between SSE Public and International crude oil has the greatest impact. During the epidemic, crude oil has the most volatility, and most of the volatility series can reach the peak state. There are positive spillover effects among SSE Material, SSE Energy, and SSE Industry. In the total spillover index table, the conclusion of the PCA-GARCH model is verified, that is, the spillover index value is larger when there is a spillover effect. After the outbreak, the total spillover index rose by 10%. Before and after the outbreak, crude oil changed from a volatility sender to a receiver.
GDP per Capita in the 31 Chinese Provinces (1952-2017, RMB Yuan)
t-statistics (Based on HAC Standard Errors) of log t Regressions for Different Groups of
that G 19 , G 24 and G 16 are the corresponding meaningful (first) convergence clubs respectively. In each case, the remaining provinces with lower 2017 per capita GDP will similarly be further clustered. Clearly, with different starting years, the first convergence clubs as determined above are different,
also show that the HAC t-statistics for the log t regressions with
that G 19 , G 24 and G 16 are the corresponding meaningful (first) convergence clubs respectively. In each case, the remaining provinces with lower 2017 per capita GDP will similarly be further clustered. Clearly, with different starting years, the first convergence clubs as determined above are different, which is worth of further examinations. Just taking one example here for future considerations: what
This paper empirically investigates the convergence clustering in 31 Chinese provinces regarding the popular and important economic indicator of GDP per capita over the period 1952-2017. Using the club convergence and clustering procedure of Phillips and Sul (2007) with necessary simplifications, a few provincial clusters are identified. It is clearly verified as expected that the Chinese provincial GDP per capita series contain significant nonlinear components. It is found that there are two or three convergence clubs depending on different starting years or initial conditions, and the clustering results are somewhat stable with respect to different starting years. The results can help local and central governments to select appropriate growth promotion strategies for different groups of provinces in general and, due to the evidence that GDP per capita in China heavily inclines to a few major provinces (such as Beijing, Shanghai, Tianjin, Jiangsu and Zhejiang), can also help provide useful information to relevant authorities to fight against the increasing income inequality across provinces in particular.
p> This study estimate technical efficiency indices and examines evidence of economies of scope in Botswana agriculture for each 18 districts and commercial sector using a multiple-output multiple-input stochastic input distance function approach covering data from 1979 to 1996. The estimated model provides input-output relations, economies (diseconomies) of scope and technical inefficiency. All the production outputs (cattle, crops and goats/sheep) were significant with expected signs. The estimated mean technical efficiency of 0.885 for 18 districts and the commercial sector was obtained. This suggest the existence of inefficiency in Botswana agricultural production which indicates that there is opportunity to increase production with the same quantities of input factors, and through adaptation of improved technology such as irrigation, use of fertilisers, and improved high quality crops and livestock. There is significant in economies of scope between the production of cattle and goat/sheep, at the 1 percent level, and cattle and crops at 5 percent level. This existence of economies of scope indicates that higher economic returns are possible through efficient use of labour and livestock feeds, and reducing risk by not producing output (e.g., crops) that is easily affected by droughts and poor soils. </p
ADF Test Result 
appendixes presented the Pairwise Granger Causality Test; the first line results display the Granger Causality test of the response of Official Economy Nominal GDP to Informal Economy 
Pair Wise Granger Causality Test Result 
Regression Result: Dependent Variable (OFECON) 
p> The paper examines the impact of informal sector activities on economic growth in Nigeria between 1980-2014. The contributions of informal sector activities to the growth of Nigerian economy cannot be over emphasized. It is the source of livelihood to the majority of poor, unskilled, socially marginalized and female population and is the vital means of survival for the people in the country lacking proper safety nets and unemployment insurance especially those lacking skills from formal sector jobs. The relationship between informality and economic growth is not clear because the sector is not regulated by the law also there is no concrete evidence that this sector enhances growth because the sector’s contributions to growth is not measured. The use of endogenous growth model becomes relevant in this study. The theory emphasizes the role of production on the long-run via a higher rate of technological innovation. The variables that were tested are official economy nominal GDP, informal economy nominal GDP, currency in circulation, demand deposit, ratio of currency in circulation to demand deposit, narrow money, informal economy as percentage of official economy. ADF test was conducted to establish that the data series of all variables are stationary t levels. Having established the stationarity test we also, conducted causality test of the response of official economy nominal GDP to informal economy nominal GDP. In conclusion, the impact of informal sector economy on economic growth in Nigeria is quiet commendable. Even though, the relationship between informality and economic growth is not straight. The paper recommended thus, the need for the government to integrate the activities of the informal economy into formal sector and size of the sector is measured and regulated because their roles are commendable. As it will improve tax collection and enhance fiscal policy. </p
The Result of Test Optimum Lag
In the context of economic globalization, countries around the world are closely linked through economic activities such as import, export, foreign direct investment and foreign portfolio investment. Economic globalization is conducive to participating in the international division of labor, giving play to its comparative advantages and expanding overseas markets. This research is an ex post facto study using quantitative. The data used are as many as 35 data from 1982 to 2017. This study aims to determine the effect of economic globalization on economic growth, study: Foreign Portfolio Investment, Foreign Direct Investment, import and export, both directly or indirectly. The data ware validated using the VAR model, the results of this study indicate that the effects of variables on economic growth are positive.
p> The paper identifies the factors that are influential in determining the growth of household debt in Botswana. Understanding the relationship between household debt and other economic indicators is an important step towards formulating focused and effective policies that control the effects of household debt on the whole economy. Using quarterly data from the first quarter of 1994 to the second quarter of 2012, the paper employs the Vector Error Correction Model (VECM) to analyse the influence of G ross D omestic P roduct (GDP) per capita, interest rates, inflation, household consumption and money supply on household debt. The findings indicate that GDP per capita, interest rates and money supply determine changes in household debt in the long-run. Further analysis shows that lagged household debt, interest rates and money supply influence changes in household debt in the short-run. </p
Panel A. Double Sort by Size and B/M 
Panel B. Double Sort by Size and GP 
Time Series Regressions for 25 Size-GP Portfolios 
p> I follow Novy Marx (2011, 2013) to investigate and compare firms’ gross profit, operating leverage as predictors of returns for a cross-section of traded Chinese equities spanning from1996-2016. I use portfolio tests and Fama-MacBeth regressions, find that gross-profit-to-market-capitalization ratios significantly predict returns on sampled stocks. I also find that sorting portfolios by gross profitability and size outperforms in the Chinese market. Hence, I create a Market-Profitability-Size model that captures profitability and size premium among returns of sampled stocks. Based on Gibbons-Ross-Shanken test and economic value, I demonstrate that my enhanced model outperforms Fama-French multiple-factor model in isolating influences on equity returns. </p
p> The study investigated the impact of Nigerian capital market on domestic resource mobilization for economic development, using time series data from 2000 to 2015. The study employed secondary data obtained from the Central Bank of Nigeria Statistical Bulletin, the Nigerian Stock Exchange Fact Book and Securities and Exchange Commission database. To evaluate the impact of the independent variables on the dependent, the Ordinary Least Square (OLS) method of estimation was employed. Augmented Dickey Fuller (ADF) test was used to identify the order of integration. Economic growth was proxied by Gross Domestic Product (GDP) while the capital market variables considered include: Market Capitalization (MCAP), Total New Issues (TNI) and Value of Transactions (VLT). Applying Johansen and Juselius co-integration test, the result showed that there was at most one co-integrating equation in the model, implying that there is a long run relationship between the variables in the model. The causality test results suggest bidirectional causation between the GDP and the Value of Transactions (VLT) and to the GDP but not vice-versa. Using two-tailed test, the F-statistics is significant at 5 percent level of significance. Furthermore, there was no evidence of reverse causation from GDP to market capitalization and there was no evidence of independence causation between the GDP and Total New Issues (TNI). The study showed that the major problem with domestic resource mobilization in Nigeria have been that not enough savings are being generated to facilitate the required investment. Also, the type of savings available does not easily make financial intermediation possible. The Nigerian stock market has been constrained by policies that tend to make the exchange look like a mechanism by which government raise loan finance rather than an instrument for mobilizing industrial finance. It is recommended therefore that the regulatory authority should appraise and modify the restrictive policies that constrained resource mobilization capacity of the Nigerian capital market. </p
Unit Root Test Result
VAR Lag Order Selection Criteria Endogenous variables: LGDP LAM_ABJ LAM_KANO LAM_MMA LAM_PHC LPT_ABJ
Johansen and Juselius Cointegration Test Series: LGDP LAM_ABJ LAM_KANO LAM_MMA LAM_PHC LPT_ABJ LPT_KANO LPT_MMA
Results of Error Correction Model
Summary of Diagnostic Tests for the ECM Model
p> This study examined the impact of aviation sector on economic growth in Nigeria using four selected international airports activities namely; Murtala Muhammed International Airport, Ikeja, Lagos; Mallam Aminu Kano International Airport, Kano; Nnamdi Azikiwe International Airport, Abuja; and Port Harcourt International Airport, Port Harcourt between 2003-2015. The study employed error correction model in analyzing the model specified in the study. The result revealed positive connection amid the explained variable LGDP and explanatory variables; Passanger Traffic and Aircraft Movement for all the considered airports which are all in compliance with the apriori expectation. All the explanatory variables except passenger traffic and aircraft movement of Mallam Aminu Kano International Airport were significant in explaining economic growth in Nigeria. While the error correction term, ECM<sub>t-1</sub> with a high feedback of 84% has the expected negative sign and presented the rate at which disequilibrium will be adjusted back to equilibrium which also showed the existence of a strong relationship between the aviation sectors’ activities and economic growth in Nigeria . The study recommends that government should ensure continuous supervision of the activities of aviation sector so as to increase their services of connecting people, goods and services which in turn will create more economic value leading to economic growth and improve aviation infrastructures for a competitive advantage to that of other countries. </p
A Nonstochastic Linear Version of the Hicksian IS-LM Source: Searching authors.
Monetary Policy Instruments, Targets and Objectives
Linear Serial Correlation
Unit Root Test
p> This paper proposes a new paradigm for the analysis of monetary policy, and presents the monetary policy framework in Angola which includes the policy instruments, and implementation mechanism the way between instrument and objective. To study the Monetary Policy instruments in Angola based on a multiple linear regression model. Before the model was conceived an analogy was made about the politics and instruments of monetary policy from the classical Keynesian model in the matter, but also less important also to analyze the concrete objective of monetary policy if the authors agree connected with those currents of economic thought. For the estimation of the equation for the monetary aggregate M2 that represents the money supply by the Central Bank in Angola The author applied the current implementation and the existing theories to display the Angola monetary tools such as basic interest rate for monetary policy orientation (tbna), open market operation, Lending Facility, coefficient of required reserve, net international reserves, and the Gross Domestic Product, the reference oil price to brent. Most of the variables present the expected results. </p
The supply of rural public goods and the consumption of rural residents are not only an important symbol of the quality of life of rural residents, but also reflect the satisfaction of the majority of rural residents to a better life. At the same time, the supply of rural public goods and the consumption of rural residents are also the “engine” and “ballast stone”. The supply of rural public goods and the consumption of rural residents are the “Chinese experience” to solve the crisis. In the early days of the founding of the people’s Republic of China, the reform and opening up of the production package, the soft landing of the 2008 financial tsunami was a solution to the crisis by adjusting the supply of rural public goods. In the face of the complex situation of the current international economy and the influence of the epidemic situation, a new development pattern with the large domestic circulation as the main body and the domestic and international double circulation promoting each other can not only resolve the overproduction of the city, but also realize the redistribution of urban and rural resources by stimulating consumption. The research on the supply of rural public goods in China has been fruitful. From 2009 to 2019, there were 2729 articles on the supply of rural public goods and the consumption of rural residents.
p> This dissertation investigates the relation between the real estate developers and the price development on the business market in 2013. Based on the result of the correlations analysis and regression analysis, owner’s equity affects to the dependent variable of the business price. </p
p> This dissertation investigates the real state of Beijing house market in 2016 based on the questionnaire. Based on the result of the cross analysis and correlations analysis, people who live in Beijing became to buy houses when they just work for few years, they and their all family members’ annual income were not very high. Everyone has a strong sense of buying house in Beijing. They try to buy houses as soon as possible after them and their family have a little income. The first or the second house which bought in Beijing had the biggest increase in price during these 10 years. </p
This study aims at identifying the extent to which IAS 34 (Interim financial reporting) is applied in the Jordanian public shareholding companies, along with highlighting the impact of its application on individual investors at these companies. Study population consists of all Jordanian public shareholding industrial companies (45 companies) listed at Amman Stock Exchange. Due to the large number of the study population, preparers of financial statements (employees of companies), and individual investors, we have selected a simple random sample. The total number of preparers of financial statements (employees), and individual investors were (500) individuals who were selected for the sample. The results showed that all companies are committed to issue and publish interim financial reports within the period specified for that purpose. There is a statistically significant relationship between the variables relevant to the company including (the firm's nature, profitability, and age) and the compliance with issuing the reports and the information content of the financial statements. Moreover there are statistically significant differences in the extent to which IAS 34 is applied in the Jordanian public shareholding companies. These differences arise due to the personal and occupational characteristics of the preparers of financial statements (gender, age, qualification, position, and experience).
Establishment of 3A Supply Chain
The 3A supply chain was proposed by Stanford University Professor Hau L. Lee in 2004. In the past five years, he has studied more than 60 leading companies focusing on supply chain management, including Wal Mart, best buy and Martha, and found that the first-class supply chain has three characteristics: agility, alignment, and adaptation. It represents the best state of current supply chain management. He believes that only enterprises with the 3A supply chain can continue to gain a competitive advantage and take the lead in the competition. 3S model refers to the analysis of substitution effect (business substitution), scale effect (scale expansion) and structure effect (production structure and distribution channel change) used in enterprise supply chain management. This paper aims to use the 3A3S model to analyze the current situation of the company’s supply chain with Starbucks as an example and draw conclusions through detailed research and analysis, to provide some experience and lessons for more enterprises’ supply chain management.
This paper follows the footsteps of eleven studies that have tried to analyze the competitive profile of U.S. consumer markets: Men’s Shaving Gel, Beer, Shampoo, Shredded/Grated Cheese, Refrigerated Orange Juice, Men’s Razor-Blades, Women’s Razor-Blades, Toothpaste, Canned Soup, Coffee, and Potato Chips.Porter associates high market share with cost leadership strategy which is based on the idea of competing on a price that is lower than that of the competition. However, customer-perceived quality—not low cost—should be the underpinning of competitive strategy, because it is far more vital to long-term competitive position and profitability than any other factor. So, a superior alternative is to offer better quality vs. the competition.In most consumer markets a business seeking market share leadership should try to serve the middle class by competing in the mid-price segment; and offering quality better than that of the competition: at a price somewhat higher to signify an image of quality, and to ensure that the strategy is both profitable and sustainable in the long run. Quality, however, is a complex concept consumers generally find difficult to understand. So, they often use relative price, and a brand’s reputation, as a symbol of quality.For 2008 we chose the Alkaline AA Battery because its sales were $667 million vs. $283 million for AAA. By the same token, we have focused our analysis on AA 4-pack because it was the most popular size with 2008 sales of $190 million.In 2008 the AA 4-pack Alkaline Battery market was quite competitive with 30 brands with sales over $25,000.Using Hierarchical Cluster Analysis, we tested two hypotheses: (1) That the market leader is likely to compete in the mid-price segment, and that (2) Its unit price is likely to be higher than that of the nearest competition.For 2008 the results supported Hypothesis I and II. Both the market leader Energizer, and the runner-up Duracell, were members of the mid-price segment. Moreover, the unit price of Energizer was higher than that for Duracell, as we have hypothesized.For 2007 the results did not support Hypothesis I, because Energizer found it to be a member of the premium segment, even though Duracell maintained its association with the mid-price segment. We found that relative price was a strategic variable, as hypothesized.We also discovered four strategic groups in the industry.
shows the results of various linear regression models in the overall (pooled) sample. Model 1
Background: To investigate ethnic differences in the protective effects of family income against youth social, emotional, and behavioral problems in the US. As proposed by the Marginalization-related Diminished Returns (MDRs), family income may generate fewer tangible outcomes for ethnic minority compared to NHW families. Our existing knowledge is minimal about diminished returns of family income on parental reports of youth social, emotional, and behavioral outcomes. Aim: To compare ethnic groups for the effects of family income on parental reports of youth social, emotional, and behavioral problems. Materials and methods: In this cross-sectional study, data from wave 1 of the Adolescent Brain Cognitive Development (ABCD) study were included. The ABCD, an ongoing national cohort of American youth brain development, included 10,762 American youth between ages 8 and 11 years old. The independent variable was family income. The primary outcomes were 1) anxious and depressed mood, 2) withdrawn and depressed affect, 3) somatic complaints, 4) social and interpersonal problems, 5) thought problems, 6) rule-breaking behaviors, 7) attention problems, and 8) violent and aggressive behaviors. These outcomes were generated based on parent-reported behavioral problems measured using the Child Behavior Checklist (CBCL). Results: Overall, high family income was associated with lower levels of parental reports of youth social, emotional, and behavioral problems across all domains (p <0.05 for all beta coefficients across multivariable regression models). Ethnicity showed statistically significant interactions with family income on youth fewer social, emotional, and behavioral problems (all domains), net of all confounders (p <0.05 for all beta coefficients that reflected interaction terms across multivariable regression models), indicating smaller tangible gains from their family income for NHB and HW compared to NHW youth. Conclusion: The protective effects of family income against behavioral problems are systematically diminished for HW and NHB youth compared to NHW youth. To minimize the ethnic gap in youth social, behavioral, and emotional problems, diminished returns of family income should be addressed. There is a need for programs and interventions that equalize not only SES but also the marginal returns of SES for ethnic groups. Such efforts require addressing structural and societal barriers that hinder HW and NHB families from translating their SES resources into tangible outcomes. There is a need for studies that can minimize MDRs for NHB and HW families. Thus, SES can similarly secure tangible outcomes in the presence of SES resources.
p> It is commonplace to see academic staff (teaching staff) in Nigerian Universities stagnated for a long period of time that is without promotions, due to lack of funds for further academic development and publications. The popular syndrome of “publish or perish” has, over the time, had its toll on academic staff of Nigerian Universities. As succour, the Federal Government of Nigeria set up Tertiary Education Trust Fund (TETFund) in 2011 as an intervening agency, to, among other objectives, fund academic staff trainings in tertiary institutions within and outside the country. It has, however, been worrisome that many Universities have not been accessing funds allocated to them due to their inability to fulfil the conditions attached and thereby depriving academic staff of the opportunity of accessing Government funds for academic advancement. This work titled “TETFund International Programmes and Academic Staff Development in South East Nigeria” an attempt to determine the extent to which Universities in the South Eastern part of Nigeria have been able to access and utilize funds allocated to them by this agency with respect to training of academic staff overseas. Two universities were selected for this work viz; University of Nigeria, Nsukka and Ebonyi State University, Abakaliki. Published works of TETFund as well as literature on related terms were reviewed. The survey research was adopted as research design. Primary data were collected with the aid of questionnaire and analysed with correlation coefficient. It was found that there is positive significant relationship between TETFund’s international training programmes and academic staff advancement/development in the Universities in South East of Nigeria. It further revealed that funds allocated to these Universities overtime were under accessed due to their inability to meet conditions. It was recommended that the Universities should expedite action to meeting the conditions for assessment by getting better acquainted with the modalities/conditions for assessment. It is recommended that the Universities should avoid partiality in nominating staff for trainings, conferences and workshops. As well, it was recommended that TETFund should give opportunity to institutions that missed their funds to access them in the next year. </p
Available statistics indicates that about 90% of all claims or accident in Ghana is caused by human behavior. Therefore, policyholders’ errors are categorized depending on the severity and extend of casualties caused as a result of misinterpretation of road traffic control devices based on their education levels. Hence, in order to ascertain all the possible causes within the human element to reduce the increasing trend of yearly claims, this study report on the influence of education levels on accident/claims frequency and severity drawing upon a purposive sample of 203 policyholders who have experienced at least one accident in a year using structural equation modeling (SEM). The findings from our regression weights gave enough evidence to reject most of our hypotheses with few ones being supported. This study provides enough evidence that education generally to perspective policyholders influence accidents/claims occurrence. However, in terms of education levels of policyholders, we did not have enough evidence in support of any of these levels either causing or reducing claims/accident frequency. Besides accident/claim frequency, we extended our regression analysis on claim severity and also included some well know auto insurance rating factors to ascertain their impacts on accident frequency. Consequently, it was revealed that most of the severe claims or accidents that results into deaths and serious injuries on yearly basis are caused by policyholders or drivers with medium level of education in Ghana with its frequency driving mostly by rating factors such as the vehicle’s age, cubic capacity, mileage, etc.
Residual Pattern of the Fixed-Effects Model of the CFA Zone Source: WDI (2015), author's calculation (SAS 9.4). 
Average of Variables in the CFA Zone
Unit Root Tests on Variables in the CFA Zone
Residual Pattern of the Fixed-Effects Model of the Non CFA Zone Source: WDI (2015), author's calculation (SAS 9.4). 
Estimates Results for the Two Zones (CAB is the Dependent Variable) CFA countries Non CFA countries
p> This study compares the impact of certain economic and financial variables on the level of the deficit in the current account of the balance of payments of the countries of the Franc zone and certain countries of the non-Franc zone situated south of the Sahara. The empirical results of the study based on panel data models covering the period 1990-2015 indicate that none of the two zones behaves better against the current account deficit of the balance of payments and that no zone is more competitive than the other. Finally, it was clear from our analysis that the variables of gross domestic, saving and the change in the terms of trade better explain the change in the current account balance in the Franc zone, whereas the variables of net foreign transfers and gross domestic saving impact the most the current account deficit in non-CFA zone. </p
Descriptive Statistics
Results of the Zivot and Andrews Unit-Root Tests
VECM Short-run Relationship Dependent Variable -GDP per Capita Growth Rate
The study examines the effects of current account deficits on economic growth. It also evaluates the direction of causality between the current account deficits and economic growth. These have in the recent past been analyzed in developed and developing economies. In contributing to this ongoing debate, the study applied unit root tests, cointegration analysis, a dynamic vector error correction model and Toda-Yamamoto Granger-causality representation using annual time series data for Kenya from 1980 to 2016. There is evidence that in the long run, current account deficit has significant positive effect on economic growth in Kenya. The evidence suggests a bidirectional causality running from current account deficit to economic growth with feedback effects. The study underscores the need for the authorities to utilize current account deficits to strictly finance public investment to foster gross fixed capital formation, for shared prosperity in Kenya. The evidence underscores the need for more country specific studies in sub-Saharan Africa.
Impact of the Practical Accounting Training on the Performance of Accountants 
Results of the Simple Regression Analysis Test for Measuring the Impact of the 
Results of the Simple Regression Analysis Test for Measuring the Impact of Selection of 
Results of the Multiple Regression Analysis Test for Measuring the Impact of the Practical Accounting Training on the Performance of Accountants in Jordanian Public 
p> This study aims to investigate the impact of the practical accounting training on the performance of accountants in Jordanian public shareholding companies as perceived by the financial managers. Such training has four fields: training programs design, selection of trainees, identification of training needs, and selection of trainers. To achieve this objective, researchers improved a questionnaire included the previous practical accounting training dimensions; the validity and reliability of questionnaire had been verified. A randomly sample composed of 240 financial managers has been tested. Using arithmetic mean, simple regression analysis, and multiple regression analysis; the study concluded the following findings: the practical accounting training fields are arranged in a descending order as follows: training programs design, selection of trainees, identification of training needs, and selection of trainers. In addition, there is a statistically significant impact of the previous practical accounting training fields, separately, on the performance of accountants in Jordanian public shareholding companies. As well, there is a statistically significant impact of the four dimensions of the practical accounting training, collectively, on the performance of accountants in Jordanian public shareholding companies. The degree of impact of training is mostly evident on the selection of trainers, and then on the selection of trainees. </p
Accounting Frauds Themes
Overview of Concepts and Aggregate Dimensions
Purpose: the purpose of this study is to provide a better understanding of the rate of accounting frauds (misappropriation of assets, fraudulent financial reporting), and how they occur in different business cycles (economic fluctuations). Further, it aims at exploring the relationship between factors influencing the economic fluctuations and the level of accounting frauds. Design/methodology approach: a qualitative research design used semi-structured interviews with a group of internal controllers and external auditors from the big four auditing companies in addition to other Leading and certified audit offices in UAE in order to identify how the factors influencing the GDP fluctuations could affect the degree of accounting frauds.Findings: GDP components that influence economic fluctuations associate with the accounting frauds rate, especially fraudulent financial reporting. Economic factors including the GDP, unemployment and inflation are very important in the steadiness of an economy. The probable drop of GDP, or raise in unemployment level, high rates of inflation are positively influence the occurrences of accounting frauds.Research limitation/implications: There are many ECONOMIC roots of business cycles and economic fluctuations such as variations in trading strategy, warfare, inflation caused by governmental finance or fears. But these represent non-economic data that is hard to be rationalized by economic theory. Typical macroeconomic theory inclines to illuminate business cycles by a number of mistake and emphasis on modifying this mistake either by dynamic strategy or by supporting a separate strategy (Raudino, 2016). Thus, it is very hard to capture all the factors influencing the economic fluctuations. However, most of the studies in the literature considers the GDP as the most important factors, in addition to inflation and unemployment. Practical implication: This study contributes to both economic and accounting research by proving findings from an investigation of the elements modifying the economical fluctuation and how these fluctuations might impact the rate of accounting Frauds (AF), with implications for economists and financiers, shareholders, stakeholders, stockholders and external inspectors of auditing companies an additional visions about the audit risk in PBOs at altered stages of GDP. Originality/value: This study contributes to both economic and accounting research by exploratory research into the GDP fluctuation, inflation, and unemployment and accounting frauds rate.
At present, the trend of economic globalization is in full swing, the trade exchanges between countries around the world are deepening, and the international financial capital market is booming. At the same time, the world’s scientific and technological revolution is changing with each passing day, and the productivity level of each country has developed rapidly, thus driving the rapid growth of the world economy. In this case, if the accounting standards of countries around the world, which reflect the processing means of economic information, are unable to converge with the international community, in the long run, It will inevitably lead to great international trade barriers, which will make the transaction costs remain high, and the transmission of key economic information lags behind slowly, eventually resulting in unnecessary waste of means of production, thus making it difficult to promote the coordinated progress of the economies of various countries efficiently. Therefore, in order to establish a good financial capital market order, maintain a stable and positive world economic level, and improve the happiness index of people all over the world, it is particularly necessary to call on all countries in the world to build international convergence of accounting standards. As the mainstay of world trade, China is obliged to improve its own accounting system and adapt to the global economic development. Therefore, its accounting standards will strive to converge with internationalization in the future, which is not only just needed by China’s own economic development. At the same time, it is also of great practical significance for the development of the world economy. However, due to the influence of specific factors such as national conditions, economic environment and historical issues, the internationalization route of China’s accounting standards has a long way to go. Based on this, we should rationally analyze the background and initial intention of the convergence of China’s accounting standards to international accounting standards, and deal with differences and consequences according to China’s accounting treatment and international standards brought by specific business environment. Then, proceeding from China’s national conditions, combining with the differences in the above accounting standards, objectively analyzing the problems and the deeper reasons behind the internationalization of China’s accounting standards by combining quantitative and qualitative methods, finally, prescribing the right medicine, proceeding from reality, taking the basic principle of Marxism-materialist dialectics, and realistically making targeted suggestions on the internationalization convergence of China’s accounting standards, aiming at making a modest contribution to the academic development of accounting standards by taking China as a reference.
Volume of Information Segment Disclosure (Per Country)
Adopting a set of accounting standards on a global level derives from the growing globalization of international economies. However, the transition from old to new ones is challenging in a rapidly changing economic environment. This article presents an assessment of IFRS 8 (Operating Segments) adoption, after replacing IAS 14 (Segment Reporting), and examines the impact occurred in the developed economies within the EU, with relevant considerations referring to the current COVID-19 global pandemic situation.This study analyzes the effect of this controversial standard on segment reporting and attempts to identify the determinants of changes in disclosure practices. Based on a four country sample, the current research identifies specific significant financial information changes, although segmentation remains relatively stable. Furthermore, the study includes relevant considerations on reporting, as reflected from current COVID-19 pandemic.The present research includes a historical reference to the development of the accounting standards under examination. Conclusions, expectations, and future perspectives are also presented in the paper.
p> Individuals face many challenges when developing a retirement plan. Hurdles arise at different stages of the retirement planning lifecycle. In the pre-retirement period, a significant obstacle arises when individuals must save for retirement to maximize their utility in retirement. The question of how much to save along with where to save impacts the amount the individual has in retirement. Post-retirement individuals must overcome the obstacle of how to optimally withdraw from their retirement savings to mitigate sequence risk and longevity risk to reduce the chance of portfolio failure. Individuals in post-retirement must develop strategies that not only mitigate these risks but also allow them to enjoy the retirement they have envisioned. </p
p> In 2008, Pacific Century Regional Development and China Netcom Corporation, two major shareholders of Pacific Century Cyber Works (PCCW,, proposed privatization of the firm listed in Hong Kong Stock Exchange. Minority shareholders opposed fiercely. The proposal, although endorsed in special shareholders meeting in February 2009, was challenged in Court and overturned, due to allegations of vote-rigging in the shareholders meeting. One interesting aspect of this episode is that, while the offer by major shareholders was very attractive compare to the current share price, it is hard to understand why relatively large percentage of shareholders voted against the offer. The percentage deviates from what often found in ultimatum game experiments, as the offer proposed by the major shareholders was comparable to the median offers in a lot of ultimatum game experiments. This could be understood through loss aversion, which predict a bias towards status quo. </p
One of the critical components of Sustainable Development Goals is to strengthen domestic resource mobilization. The target is to have domestic resources contributing at least 75 percent to 90 percent of the financing required to achieve Agenda 2063 (AU, 2015). In an effort to enhance domestic resource mobilization in Kenya, great emphasis has been placed on Value Added Tax whereby the tax authority endeavors to enhance the contribution of VAT collections to GDP from a mean of 6 per cent to 9 percent of GDP. The study sought to estimate the productivity of VAT over the period 1973-2016 using data collected from Kenya National Bureau of Statistics and Kenya Revenue Authority’s database. OLS method was adopted to estimate buoyancy of VAT while divisia index approach was adopted to estimate elasticity of VAT. The study found that, the VAT system was buoyant with a value greater than one while the elasticity was 0.79 which was less than one implying VAT system was inelastic. The study concluded that the tax reforms adopted during the study period had impacted positively on VAT performance hence the buoyancy value greater than one. Therefore, to mobilize more revenue from VAT, reforms focusing on enhancing VAT compliance and expanding tax base should be emphasised.
Fluctuations of Growth Rates
The global financial crises of 2007-2009 was followed by the Great Recession which was the worst since the Great Depression of 1930s. The crises left significant adverse effects on global growth and employment. Policymakers of affected countries responded differently to the outcomes of these crises. The central banks, including US Federal Reserve Bank and Bank of England, provided ample liquidity for the financial institutions and lowered the interest rate to near zero. The policymakers and regulators realized that capital inadequacy and insufficient liquidity of financial institutions were the main problems preventing the financial firms to protect themselves against major financial crises. In addition, lack of guidelines for compensations encourages managers to take the extra risks. The US Federal Reserve Bank took the initiative, in cooperation with international central banks to introduce rules and regulations to safeguard the financial systems against another major crisis. It is not guaranteed that another episode of financial instability will not happen again. However, with existing regulations on financial institutions in force, the severity of the crises on the whole global financial system may possibly become weaker. This is a conjecture we explore here.
p> Purpose : The paper has several objectives in mind: to examine whether or not a dynamic, ex ante AHP-SAA model and a dynamic Markowitz QP TAA model that utilizes de-smoothed data, produces an investment strategy, which further optimizes the risk-adjusted return of the pan-Asian real estate portfolio. It examines the required de-smoothing and Modern Portfolio Theory (MPT) for the TAA. Design/Methodology/Approach : This paper reveals that the efficient frontier of risk-adjusted returns for direct real estate portfolio is enhanced by introducing REITS. The portfolio comprises the Pan-Asian office and industrial real estate markets for 13 major Asian cities, to which Asian REITS are added. Direct real estate total return data is in its “ smooth ” form while the REIT data is “ de-smoothed ” under the 1<sup>st</sup> and 4<sup>th</sup> order autoregressive model. The efficient frontier is constructed under a dynamic Strategic Asset Allocation (SAA) model, incorporating the Analytic Hierarchy Process (AHP) approach. Secondly, the dynamic Markowitz quadratic-programming Tactical Asset Allocation (TAA) model is adopted to obtain a geographically and real estate sector diversified portfolio. Findings : The resulting efficient frontier with the de-smoothed data reveals a higher overall TR for every corresponding standard deviation as compared to the smoothed data. TAA for the de-smoothed returns would lie on the efficient frontier at the maximum Sharpe ratio of 1.44 with a TR on 15.30% and a standard deviation of 7.31%. Conversely, TAA for the smoothed returns would lie on the efficient frontier at the maximum Sharpe ratio of 1.31 with a lower TR of 14.2% and a standard deviation of 7.18%. Practical implications : This paper should serve as a meaningful guide to look at an alternative asset allocation process that can be effectively adopted and refined by practitioners and researchers. It enables asset managers/or investors to deploy expert opinions on an ex ante basis for a longer term dynamic SAA model and a short term dynamic Markowitz QP TAA model. Originality/Value : The paper offers insightful information for in adopting the AHP to develop a dynamic SAA and the dynamic Markowitz QP TAA model in utilizing de-smoothed direct real estate TR data. This paper is specific to a Pan Asian direct real estate portfolio of 13 Asian cities together with the introduction of Asian REITS, to provide greater diversification and risk-return benefits. </p
p> This study examines the impact of Farmer Field School (FFS) training program on farmers’ knowledge and farm technology adoption. The FFS program was sponsored by the Ethiopian government and launched in 2010. The study aims to compare the impact of the training on knowledge and agricultural technology adoption of those FFS graduate and non-FFS graduate maize farmers in Oromia, Ethiopia. For this, data was collected in 2013 from 446 randomly selected households of three districts consisting of 218 FFS graduate farmers and 228 non-FFS graduate farmers. The analytical procedure has involved two stages: in the first stage, descriptive analysis was used to detect existence of difference in the household and farm characteristics of the two groups of farmers. In the second stage, a semi-parametric impact evaluation method of propensity score matching with several matching algorithms was employed to estimate the program impacts. The result reveals that although FFS graduate farmers have relatively higher knowledge test score than the non-FFS gradate farmers, farm technology adoption index of the later farmer group exceeds the former groups. This finding suggests that there is no necessarily linear relationship between increased knowledge and increased technology adoption. This further implies that the mental attitude of the smallholder farmers in study area is not actually shaped by misconceptions of technology as claimed by the Ethiopian government, but rather because of their firm understanding of what works and does not work according to their own realities. The policy implication of this finding is that knowledge can be translated into practices if a set of enabling factors and conditions exist. These factors including farmers’ positive perception of the technology benefits, access to complementary inputs, availability of crop insurance scheme, arrangement of credit facilities and favorable output markets as incentive for adopting full technologies. </p
Two-Year Mortality Rates by Cancer Site and Insurance Type
Summary of Cancer Severity at Time of Cancer Diagnosis
Compared to traditional fee-for-service Medicare (FFS), private Medicare Advantage (MA) plans offer additional health insurance coverage but restrict access to medical providers. This study measured how MA enrollment, relative to FFS enrollment, may influence mortality for cancer patients. The study used linked data from the Surveillance, Epidemiology, and End Results Program and Medicare administration (SEER-Medicare) including diagnoses between 2006 and 2011 at all four major cancer sites (breast, colorectal, lung, prostate). The key innovation of the study was to measure and account for variation in prescription drug coverage between MA and FFS cancer patients. Among cancer patients with Part D coverage, MA enrollment was associated with modestly increased mortality. The estimated relationships were statistically distinguishable from zero for lung cancer and (in most model specifications) colorectal cancer. The findings are consistent with a hypothesis that restricted provider access may reduce health outcomes for patients who already have a serious illness.
p> In response to increasing public heath expenditure, the Government of Hong Kong Special Administrative Region (HKSAR Government) published a consultation document in October 2010 proposing a government-regulated “Voluntary Health Insurance Scheme” . The present study conducts game theoretic analysis and reveals that, under specific information structure, the implementation of such a proposal would result in adverse selection in medical insurance market, resulting in outcomes in opposition to the government’s intention. </p
Coefficients a
p> This research analyzes the factors affecting the level of information disclosure on financial statements in the industrial enterprises listed on Ho Chi Minh stock exchange. Using financial statements of 87 industrial enterprises of the fiscal year 2017, the research shows that there are 6 factors affecting and having a positive relations with the level of information disclosure. These include: the scale of business, Duration of operation, Audit firm reputation, Solvency, Financial leverage and Return on Equity (ROE). The result points to signals that help the State Securities Commission to control better of information disclosure of firms. In addition, the study recommends measures for shareholders, especially those in large companies to strengthen the supervision, control managers in the disclosure of business information. </p
Scale Reliability Testing Results
In the era of innovative technologies, the physical border is no longer a concern in exchanging goods thanks to the widespread use of internet connections. On this basis, the study explores the determinants that impact cross-border online consumers’ purchase intentions in Hanoi, Vietnam. As fundamental ideas, the Theory of Planned Behavior (TPB) and the Technology Acceptance Model (TAM) are integrated with the influence of the Regional Comprehensive Economic Partnership (RCEP). The examined factors consist of Consumer Attitude, Subjective Norms, Perceived Behavioral Control, Perceived Usefulness, Perceived Ease of Use, Perceived Risk, Trust, and RCEP. The research was conducted on a survey questionnaire of 253 online shoppers in Hanoi who have experienced cross-border purchasing. The data was processed using several statistical methods, namely descriptive statistics, exploratory factor analysis (EFA), correlation analysis, and regression analysis. The analysis reveals that Consumer Attitude, Subjective Norms, Perceived Behavioral Control, Perceived Usefulness, Perceived Ease of Use, and Trust have a positive influence on the consumer’s intention to cross-border e-commerce (CBEC), while perceived risk and RCEP do not exert any force on the intention. Among these variables, Risk perception and trust have been demonstrated to have the most significant impact on online purchase intention. The outcomes of the study indicate that online retailers or intermediaries adopt a third-party payment processor and publish policies to protect consumers’ private information. It is also suggested that the government should educate the public on the benefits of RCEP, implement the relevant policies, and provide guidance for the sellers to follow to utilize the advantages of RCEP.
Relationship between a Capital Structure with Age and Gender of the Chairman Board in Real Estate Enterprises Source: collected data processed by Stata software
Statistical Results of Variables in the Research Model
This study is conducted to evaluate and analyze factors affecting the capital structure of real estate joint-stock companies listed on Vietnam’s stock exchange for more than 5 years or more. The research uses a regression model for table data in which data is collected from the consolidated financial statements and other information of 55 joint-stock companies in the real estate industry from the period 2015 - 2019. The result indicates that factors such as firm size, age of the Chairman of the Board and return on equity (ROE) have a positive effect on capital structure. In contrast, factors such as operating time, gender, liquidity, asset turnover ratio, and return on total assets (ROA) have a negative impact on the capital structure of real estate joint-stock companies. In general, the women-chaired enterprises have a higher debt ratio than those of males. However, the higher age of the men-chaired enterprises, the higher the debt ratio their enterprises have compared to women-chaired enterprises.
below presents the results from the GMM estimates of the sales-accelerator model using an
(continued). Influence of Financial Policies on Capital Structure of Firms
p> A number of scholars have been motivated to study the manner to which firms adjust their corporate finance strategies in light of the availability and easiness of accessing external sources of funding. Till recently, researchers have also been interested to analyse the external factors that allow firms to relax their fixed budget and the consequent impact on corporate strategies. These mainly include alterations in the composition of their funding and the second round effects on other corporate decisions such as on investment projects and their dividend policies. External financing can be assessed both from a policy perspective, i.e., via financial liberalisation policies, as well as other development in the financial sector such as availability of alternative bases of finance, both from banks and non-banks. It will thus be pertinent to examine the impact of FL policies as well as availability of financial resources on the capital structure of Mauritian firms and their investment decisions in a post financial liberalization period. A judicious investigation is undertaken and the empirical soundness of our different formulations tested with the techniques of panel data and GMM estimates. We compare and contrast the results in the 7 different sectors notably banking, insurance, leasing, hotel, oil, retail/distributive trade and the construction industry. For a better analysis, the full sample of firms is divided into several subsamples as follows: top 100 companies, firms in group-structure, those which are not in group structures, local firms, international firms, firms with good banking ties, those with good and poor corporate governance, listed and unlisted firms. By employing different econometric investment models, we found that all indices of FL, including the index of money market liberalisation, index of capital account liberalisation and overall financial liberalisation index have do not have any influence on private investment behaviour. In contract, higher amount of money in circulation, bank credit, leasing activities and subsidised financing from the Development bank have a positive impact on private investment expenditures. Development in the financial sector in terms of credit facilities offered by insurance companies, venture capitals and the stock market activities have not been effective in inducing firms to increase their investment portfolios. </p
Government Expenditures in Developing Regions, 1982-2016
Descriptive Statistics
The Effect of Government Expenditure on Growth in SSA-Long-run Estimates
The paper sought to investigate the effect government expenditure on economic growth in Sub-Saharan Africa using a panel data for 35 Sub-Saharan African countries for the period 2006-2018. The paper adopted dynamic panel data and estimates were achieved by using two-step system GMM while taking into account the problem of instrument proliferation. The paper provided evidence that education and health expenditure are key determinants of income growth for SSA. The impact of education spending on cross-country income variation is more effective in low income SSA countries than the middle income SSA countries. However, military expenditure on output growth is more effective in improving income level of middle income SSA countries than low income SSA countries. SSA countries should allocate more funding towards education sector and should also avail compulsory and free primary and secondary education. SSA should carry out health reforms which improve primary health and universal health insurance coverage.
The objective of this paper is to make the case that the United States became an economic super-power in the nineteenth century on the backs of African-American slaves and Native Americans.It was in 1619, when Jamestown colonists bought 20-30 slaves from English pirates. The paper starts with ‘The 1619 Project’ whose objective is to place the consequences of slavery--and the contributions of black Americans--at the very center of the story we tell ourselves about who we are as a nation.Slavery was common in all thirteen colonies, and at-least twelve Presidents owned slaves. The enslaved people were not recognized as human beings, but as property: once a slave always a slave.The U.S. Constitution, adopted in 1788, never mentions slavery, yet slavery is at the very heart of the constitution. The U.S. government used the Declaration of Independence as a license to commit genocide on the Native Americans, and to seize their land.Racist ideas have persisted throughout American history, based on the myth that blacks are intellectually inferior compared to whites. However, in a 2012 article in the Scientific American, the authors reported that 85.5% of genetic variation is within the so-called races, not between them. So, the consensus among Western researchers today is that human races do not represent a scientific theory, but are sociocultural constructs.After end of the Civil War, the 13th Amendment to the U.S. Constitution abolished slavery in America, and the 15th Amendment protected the voting rights of African Americans.However, in the Confederate South, Jim Crow laws legalized racial segregation between 1870-1968. In 1965, thanks to the Civil Rights movement, the Voting Rights Act was passed to overcome barriers created by Jim Crow laws to the legal rights of African Americans under the 15th Amendment.British and American innovations in cotton technology sparked the Industrial Revolution during the latter part of the eighteenth century. The British cotton manufacturing exploded in the 1780s. Eighty years later in 1860, Manchester, England stood at the center of a world-spanning empire—the empire of cotton. There were three pillars of the Industrial Revolution. One was the centuries-earlier conquest by Europeans of a colossal expanse of lands in the New World. It was the control of huge territories in America, that made monoculture farming of cotton possible. Second was that the Europeans drastically—and unilaterally--altered the global competitive landscape of cotton. They did it by using their military might, and the willingness to use it—often violently--to their advantage.The third—and the most important--was slavery: without which there would be no Industrial Revolution. America was tremendously suited for cotton production. The climate and soil of a large part of American South met the conditions under which the cotton plant thrived. More importantly, the plantation owners in America commanded unlimited supplies of the three crucial ingredients that went into the production of cotton: labor, land, and credit. And this was topped by their unbelievable political power.In 1793 Eli Whitney’s revolutionary cotton gin increased ginning productivity fifty times, and thus removed the bottleneck of removing seeds from cotton. Because of relying on monoculture farming, the problem the cotton planters were facing was soil exhaustion. So, they wanted the U.S. government to acquire more land. Surprisingly, in 1803 America was able to strike an unbelievable deal with the French--the Louisiana Purchase--which doubled the territory of the United States. In 1819 America acquired Florida from Spain, and in 1845 annexed Texas from Mexico.Between 1803 and 1838, under President Andrew Jackson, America fought a multi-front war against the Native Americans in the Deep South, and expropriated vast tracts of their land, that culminated in the ethnic cleansing of the Deep South.With an unlimited supply of land—and slave labor--even soil exhaustion did not slow down the cotton barons; they just moved further west and farther south. New cotton fields now sprang up in the sediment-rich lands along the banks of Mississippi. So swift was this move westward that, by the end of the 1830s, Mississippi was producing more cotton than any other southern state. By 1860, there were more millionaires per capita in Mississippi Valley than anywhere else in America.The New Orleans slave market was the largest in America--where 100,000 men, women, and children were packaged, priced, and sold.The entry of the United States in the cotton market quickly began to reshape the global cotton market. By 1802 America was the single-most supplier of cotton to Britain.For eighty years--from the 1780s to 1865--almost a million people were herded down the road from the upper South to the lower South and the West, to toil on cotton plantations. The thirty-odd men walked in coffles, the double line hurrying in lock-step. Each hauled twenty pounds of iron, chains that draped from neck-to-neck, and wrist-to-wrist, binding them all together. They walked for miles, days, and weeks, and many covered over 700 miles.The plantation owners devised a cruel system of controlling their slaves that the enslaved called “the pushing system.” This system constantly increased the number of acres each slave was expected to cultivate. In 1805 each “hand” could tend to five acres of a cotton field. Fifty years later that target had been doubled to ten acres.Overseers closely monitored enslaved workers. Each slave was assigned a daily quota of number of pounds of cotton to pick. If the worker failed to meet it, he received as many lashes on his back as the deficit. However, if he overshot his quota, the master might “reward” him by raising his quota the next day.One of the most brutal weapons the planters used against the slaves, was the whip: ten feet of plaited cowhide. When facing the specter of an overseer’s whip, slaves were so terrified that they could not speak in sentences. They danced, trembled, babbled, and lost control of their bodies.When seeking a loan, the planters used slaves as a collateral. With extraordinarily high returns from their businesses, the planters began to expand their loan portfolio: sometimes using the same slave worker as collateral for multiple mortgages. The American South produced too much cotton. However, consumer demand could not keep up with the excessive supply, that then led to a precipitous fall in prices, which, in turn, set off the Panic of 1837. And that touched off a major depression.The slaveholders were using advanced management and accounting practices long before the techniques that are still in use today.The manufacture of sugar from sugarcane began in Louisiana Territory in 1795. In sugar mills, children, alongside with adults, toiled like factory workers with assembly-like precision and discipline under the constant threat of boiling hot kettles, open furnaces, and grinding rollers. To attain the highest efficiency, sugar factories worked day and night where there is no distinction as to the days of the week. Fatigue might mean losing an arm to the grinding rollers, or being flayed for not being able to keep up. Resistance was often met with sadistic cruelty.The expansion of slavery in the first eight decades after American independence, drove the evolution and modernization of the United States. In the course of a single life time, the South grew from a narrow coastal strip of worn-out tobacco plantations, to a continental cotton empire. As a result, the United States became a modern, industrial, and capitalistic economy. This is the period in which America rose from being a minor European trading partner, to becoming the world’s leading economy. Finally, we hope that we have successfully been able to make the argument that America became an economic powerhouse in the nineteenth century not only on the backs of African-American slaves, but also on the genocide of Native Americans, and their stolen lands.
Output Growth and Inflation Dispersion in CAEMC Countries
Cointegration Tests
Assessing the economic efficiency of countries’ participation to a currency union has become a relevant topic since the introduction of the Optimum Currency Area (OCA) theory by Mundell (1961). This paper attempts to evaluate the performance of the Central African Economic and Monetary Community (CAEMC) as a currency union in the context of exposure to asymmetric shocks. We first identify structural macroeconomic shocks within the region using the Blanchard and Quah Method. We find that aggregate demand shocks fluctuations display more symmetric patterns than those of aggregate supply shocks. Chad is the apparent outlier, as it is the only economy in the monetary union to experience negative supply shocks. This suggests that the loss of monetary sovereignty might result in significant adjustment costs.
Sescriptives Statistiques
Robustness Results with PSTR (Note 2)
Africa has also experienced a decline in the level of industrialization for at least three decades. Examining the dynamics of industrialization, and its effect on inequality, therefore remains a strikingly topical issue. This paper assesses the effects of industrial transformation on inequality in Africa over the period 1980-2016. Using a sample of 48 African countries, we estimate a dynamic panel data model using the Generalized Method of Moments in System (GMM-S). Our results show that strong industrialization would reduce inequality in Africa. The robustness of the results is tested using a PSTR (Panel Smooth Transition Regression) model and a PTR (Panel Transition Regression) model. The study recommends that economic, social and environmental disparities be taken into account in the process of industrial transformation on the continent.
p class="Standard"> The policy sciences, enquiring into the making and implementation of public decisions, has made several stunning findings that are highly relevant to the COP21 Agreement or Treaty if you so wish. They constitute the so-called “implementation gap” or the “hiatus of policy implementation”, analysed by late American Aaron Wildavsky and also Paul Sabatier. The enormous enthusiasm for the COP21 framework must be dampened when confronted with the lessons from policy implementation, especially in such an extremely decentralised approach taking place over so many years. But the signatories have to decide now how to halt the increase in greenhouse gases (GHG), especially the CO2:s in order to start decreasing them, hopefully (naively) to zero in 80 years. As the emergence of economically viable renewable energy is slow, the only quick solution is to remove coal as an energy source. That would resolve the star economist Jeffrey Sachs dilemma that decarbonisation would result in negative economic growth. </p
p> As the Latin American countries have hardly started developing implementation strategies of the agreed upon COP21 objectives, their situation should be more researched. The CO2:s are really high in 2 countries but medium in all the others; Mexico and Brazil that face enormous difficulties with global warming. Thus, the dominant energy reliance remains much fixed upon oil and natural gas, but with some third component like hydro, geothermal or biomass power. Hydro power is used much but it presents a risk as it requires lots of water, which further global warming may deny—look at Venezuela today. Brazil’s plans for 30 new dams in the Amazons together with ongoing logging and new agriculture will destroy the rain forest Major investments in wind, solar, geo-thermal power or/and nuclear power are called for, besides the plenty biomass and hydro power. But to make a great energy transformation towards renewables and atomic power, the Latin American countries need massive assistance from the promised Super Fund. Only Uruguay has come far with the changes towards renewables, producing electricity with 100% renewables, including wind power. </p
p> The main objective of the research is to empirically investigate the relevance of oil revenue to agricultural development in Nigeria. This is important because despite the numerous efforts by successive governments to diversify the economy, the level of agricultural output still remains abysmally low. The fallen oil price in the international market also makes this research to be timely. The research covered the period between 1981 and 2014. The cointegration technique and the granger causality tests were used for the study. The result indicates that oil revenue is not statistically significant in explaining the level of economic growth. The result of the granger causality test indicates that oil revenue does not granger cause agricultural output. The result is symptomatic since it casts some doubts on the diversification policies of successive governments in Nigeria. The result recommends, amongst others concerted efforts to revamp the agricultural sector through judicious use of the dwindling oil revenue and foreign investors should be encouraged to go into the agricultural sector in Nigeria. </p
Income from different sources has become an important guarantee to sustain family life and normal expenses in China. How different sources of income affect farmers’ expenditure levels and how they have influenced farmers’ consumption since the agricultural tax reform in China since the 20th century has become a question worth exploring. Panel data from 2016 to 2020 are utilized to examine rural residents’ consumption expenditures and their sources of disposable income by region to analyze the impact of different income sources on farmers’ consumption and the correlation between income before and after agricultural tax reform, and finally conducts an analysis of future scenarios based on a time series model. The research results show that the elasticity of income from different sources on rural households’ per capita consumption expenditure is different, among which wage income is the most elastic, while household business income has a relatively small effect on consumption expenditure, but through data analysis we can find that agricultural tax reform has a significant and continuous promotion effect on rural households’ per capita consumption expenditure. The continuous cycle of agricultural tax reform is long, and the transmission chain through less tax payment, expanded reproduction, harvest, realization, and then consumption is long, thus there is a certain lag in tax reduction effect. Income from such sources in the first three years has a large impact on the current period data, while the first four and five years have a relatively small impact on current business income.
This book review addresses the arguments against foreign aid that William Easterly sets forth in The White Man’s Burden. Specifically, it challenges Easterly’s distinction between “Planners” and “Searchers”, his support of homegrown solutions and criticism of the lack of feedback and accountability within aid agencies, and his skepticism of Western humanitarian intervention.
ADF Unit Root Test Results
Selecting the Number of Lags
Johansen Co-Integration Test Results
p> The aim of this study is to evaluate the relationship between foreign aid and taxe revenue in Morocco by using the Error Correction Model Following the approach of Johansen to jointly capture the long-run relationship and short-run dynamics between aid and tax revenue. Other variables such as the shares of agriculture and industry in GDP, exports, imports and GDP are also included in the model. The results indicate that the direct effect of foreign aid on tax revenue is insignificant in the short term , but it becomes negative and significant in the long term. </p
External Costs from Air Pollution Unit: Euros per ton
Energy Taxes
Long Run (2030) Effects on the Energy Markets
Long Run (2030) Welfare Effects
In this paper, we compare and contrast the environmental, macroeconomic and distributive effects of CO2 taxation with the effects of taxing a variety of air pollutants at their external costs. We do so using a multi-sector and multi-household dynamic computable general equilibrium model of the Portuguese economy. We find that a carbon tax of 114 euros per ton of CO2 is necessary to achieve the IPCC 2030 targets. It does so, however, at a high macroeconomic and distributional cost. In turn, the macroeconomic and distributional effects of taxing different pollutants at their external costs in line both qualitatively and quantitatively with the effects of the CO2 taxation. In absolute terms, however, better environmental results in terms of GHG and air pollutants emissions are achieved through the level of CO2 taxation necessary to achieve the IPCC targets than through direct taxation of such emissions at their external costs. Ultimately, the benefits of complementing the CO2 taxation with the taxation of other air pollutants at their external costs does not seem significant from either efficiency, fairness, or environmental perspectives to justify the practical complexity of considering it.
Top-cited authors
Yogita Datta
  • The University of Newcastle, Australia
Mohammed Yelwa
  • University of Abuja
Chinedu Onyeizugbe
  • Nnamdi Azikiwe University, Awka
Shervin Assari
  • Charles R. Drew University of Medicine and Science
Alfredo Marvão Pereira
  • College of William and Mary