Abstract In recent years, there has been a resurgence of interest in the controversies surrounding capital theory. At the heart of these debates are the empirically observed near-linearities in the price–rate of profit and wage rate of profit curves. This article posits that these near-linearities can be attributed to the low effective rank property inherent in the economy's system matrices of input–output coefficients. This suggests that a comprehensive representation of how prices evolve in response to changes in income distribution can be achieved with only a few eigenvalues and their respective eigenvectors. Furthermore, this low-dimensional system possesses the capability to capture the majority of distinctive features that characterize the input–output structure of the economy in relation to price movements.
Economic growth, development, planning, Economics as a science
The freedom of regions in regulating territories is now being promoted with the decentralization of environmental policies. This policy serves as the forerunner in empowering regions to function autonomously, thereby playing a role in practical politics. Therefore, this research aimed to analyze the role of decentralization of environmental policy and local government competition in navigating green development productivity in Indonesia. The slack base model and dynamic panel regression were used to generalize the method of the moment. The results showed that the decentralization of environmental policies and local government competition negatively affected the productivity of green development. Meanwhile, budget allocations for research and development, along with strategic initiatives in economic sectors such as agriculture and mining, showed a substantial positive effect.
The purpose of the article is to summarize and present the differences between the regions of Ukraine on the level of development of the regional economic space from 2010 to 2020. The clustering of the regions is performed on the basis of the author's methodical approach to assessing the level of development of the economic space of the regions. Methodology. The methodological approach consists of five consecutive stages of assessing the state of the regional economic space on the basis of official statistical data. The k-means algorithm is used to cluster the regions. The implementation of the proposed methodological approach is carried out on the basis of statistical data of the regions of Ukraine for the period 2010-2020. Comparison of the array of statistical data for the period 2010-2020 for the regions of Ukraine is carried out by regions and territories for which statistical data are available. Due to the Russian invasion in 2014, there is no statistical information about the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and part of the temporarily occupied territories in Donetsk and Luhansk regions. The results of the study showed that the regions of Ukraine are divided into six separate clusters, depending on the level of development of the regional economic space, in particular, the intensity of processes in the economic space. Most regions of Ukraine change the cluster only once during the period 2010-2020. At the same time, for example, Donetsk region changed its position in the clusters six times during this period. Regions of Ukraine in 2010-2014 formed three clusters with more than three regions, then three years later there were two clusters with more than 5 regions, indicating a redistribution of regions between clusters. Practical implications. The division of regions into clusters allows to unify regional development policy in the context of regions with similar characteristics and at the same time does not imply the use of a single template for the development of all regions. The grouping of regions by groups of indicators allows to distinguish stable entities (such as Lviv, Odessa and Kharkiv regions), slowly changing regions (with processes of development or regression) and unstable regions (such as Donetsk). For each group it is necessary to develop a separate regional policy, depending on the characteristics of the cluster. The implementation of the developed methodology will improve the classification of Ukrainian regions by groups of indicators of regional economic space development for further improvement and unification of regional development policy. Value/originality. The proposed methodology provides an assessment on the basis of 67 indicators characterizing the level of development of the regional economic space and forming six groups of indicators, determining for the economic space intensity of economic processes; transparency; intensity of demographic processes; labor market functioning; business diversification; ecology and infrastructure condition.
The investment decision support tool was developed, which can be applied to check the technical feasibility and economic viability of an Organic Rankine Cycle system, and to select the appropriate working fluid, based only on basic information on the waste heat source, i.e. source temperature and mass (heat) flow rate. Two profitability criteria, Net Present Value and Payback Period, were introduced for economic evaluation, while an Organic Rankine Cycle design correlations-based model was developed, and applied for prediction of technical parameters and components’ design estimation. Validation performed with the previously published data confirmed model accuracy in spite of its simplicity. The model gave quick answers, and was incorporated successfully into a decision algorithm, which was supported by a set of system component design and cost functions, and could serve as an effective tool for preliminary feasibility evaluation of any proposed Organic Rankine Cycle based waste heat recovery system. An example of model application over the broad range of waste heat source temperatures is presented and the results discussed in order to show its basic capabilities.
Laura Helena Kivi, Janno Järve, Sten Anspal
et al.
This study investigates the role of intergenerational mobility in explaining the native-immigrant income gap in Estonia. A rich registry dataset on yearly earnings and different background characteristics for the period of 2007–2017 is used. We find that an increase of 1 percentile in parent income rank is associated with on average 0.2 percentile increase in child income rank for both natives and second-generation immigrants. Results from a detailed Blinder-Oaxaca decomposition indicate that up to 21% of the gap between income ranks of second-generation immigrants and natives is related to differences in parental background. Once we control for education, family, residence and industry related choices, differences in the parental income rank account for around 8% of the overall gap. The results indicate that although the intergenerational income mobility is relatively high in Estonia both for natives and children of foreign-born, the native-immigrant earnings gap has not decreased for the second generation.
Public finance, Economic growth, development, planning
Nearly all money in the US, UK and many other countries is created by the private sector through lending. Private sector money creation provides many benefits, but also imposes large costs on society. Transitioning to public sector money creation can provide equal or better inflation control, economic prosperity, credit availability and monetary value stability. It also can substantially reduce taxes, deficit spending and national debt, while significantly increasing funds available for essential public investments. High complexity often makes it difficult for citizens to understand monetary systems. Lack of public awareness keeps current systems in place. This paper provides a big picture overview of fiat monetary systems, with the goal of facilitating a transition to public sector money creation. The paper is based on the
book Global System Change: A Whole System Approach to Achieving Sustainability and Real Prosperity. The book identifies practical system changes in all areas of society, including money creation. This paper provides several US examples. But the suggested transition to public sector money creation is important and relevant for all countries that allow the private sector to create national fiat currencies.
International relations, Economic growth, development, planning
This article maps the changing global conversation on virtual currencies (VCs) internationally And brings that to bear on the development of a suitable regulatory framework for VCs in the United Arab Emirates (UAE). Through a review of recent international developments, the article notes a reversal in regulatory attitude towards VCs. This review suggests two emerging horizons of regulatory intervention. The first concerns the public issue of VCs to develop financial traceability and economic transparency – an arrangement that would be particularly relevant for developing countries with large informal economies. In particular, public VC issue raises follow-up questions of technological adequacy and the legal status of a means of payment guaranteed by the State. The second concerns privately issued VCs traded on independent platforms and focuses on the trade off between economic development, through a private market for VCs, and the risks connected to money laundering and the financing of terrorism. Here, a two-pronged system of ex ante licensing to private venture capitalists, coupled with ex post-sanctions, appears to be an emerging international standard for supporting economic development in countries marked by the preponderant weight of an underground economy.
Economic growth, development, planning, Human settlements. Communities
The study aims to measure the technical and intertemporal efficiency and find the primary source of productivity change on top three telecommunication firms in each country of ASEAN-5 (Indonesia, Malaysia, Thailand, Philippines, and Singapore) from 2010 to 2016. Data Envelopment Analysis (DEA) bootstrapping with 2000 iterations, DEA window, and Malmquist index are applied to calculate technical efficiency, intertemporal efficiency, and productivity change. The estimation results elucidate that, on average, the technical efficiency of firms is relatively low. On the opposite, the intertemporal efficiency results indicate that the mean efficiency score of each window is high. However, the LDW and LDP tend to be high, showing that the efficiency scores fluctuate. The Malmquist index calculation yields that technological progress possesses a significant contribution to productivity change.
Keywords: Technical Efficiency, Intertemporal Efficiency, Productivity Change, Telecommunication Industry, ASEAN-5
JEL: L8, F6, O5, O1, O3
Economics as a science, Economic growth, development, planning
Purpose – The aim of this paper is to evaluate contrasting ways of tackling self-employment in the informal sector. Conventionally, the participation of the self-employed in the informal sector has been viewed as a rational economic decision taken when the expected benefits outweigh the costs, and thus enforcement authorities have sought to change the benefit-to-cost ratio by increasing the punishments and chances of being caught. Recently, however, neo-institutional theory has viewed such endeavor as a product of a lack of vertical trust (in government) and horizontal trust (in others) and pursued trust-building strategies to nurture voluntary compliance. Design/methodology/approach – To evaluate these contrasting policy approaches, data are reported from special Eurobarometer survey 92.1 conducted in 2019 across 28 European countries (the 27 member states of the European Union and the United Kingdom) involving over 27,565 interviews. Findings – Using probit regression analysis, the finding is that the likelihood of participation in informal self-employment is not associated with the level of expected punishments and chances of being caught, but is significantly associated with the level of vertical and horizontal trust, with a greater likelihood of participation in informal self-employment when there is lower vertical and horizontal trust. Practical implications – The outcome is a call for state authorities to shift away from the use of repressive policy measures that increase the penalties and chances of being caught and toward trust-building strategies to nurture voluntary compliance. How this can be achieved is explored. Originality/value – Evidence is provided to justify a shift toward seeking trust-building strategies by state authorities to engender voluntary compliance among the self-employed operating in the informal sector in Europe.
Economic growth, development, planning, Political institutions and public administration (General)
We study a dual-channel recycling closed-loop supply chain (CLSC) and investigate the royalty strategy involving cost-reducing technique for remanufacturing patented products. Facing information asymmetry and market uncertainty, we address the problem where the patent licensor (manufacturer) and licensee (remanufacturer) simultaneously compete in the sales market and the recycling market. We examine the optimal decisions of a decentralized CLSC (D-CLSC) with the manufacturer being the Stackelberg leader. Numerical examples are used to demonstrate how the patented technology (cost-reducing technique) affects the channel players’ behaviors and how to identify the optimal royalty fee. Based on the theoretical derivation and the numerical outcomes, we find that regardless of the CLSC structure (centralized or decentralized), the take-back prices and the total profits will rise with the increase of savings from the licensed technology. In the D-CLSC, (i) the expected profits of the manufacturer and the remanufacturer as well as the royalty fee will also rise with the savings from the licensed technology. (ii) In addition, the wholesale price, retail price, take-back prices, as well as the royalty fee will rise with the degree of information asymmetry. But the retailer’s expected profit will decline. (iii) Finally, the expected profit of the manufacturer will rise with the demand uncertainty and the return uncertainty. For the remanufacturer, this trend is not obvious. Our research provides guidance to resolve conflicts and intellectual property disputes between the original manufacturer and the remanufacturer of the patented product.
First published online 21 June 2019
In the scientific discourse of the XXI century, the concept of modern Europe is being reformed under the influence of reforming the activities of the European Union. Scientific publications and research are conducted based on a study of the policies of the European Union countries, EU institutions and structural elements, and the problems that arise in the process of activity and development. The concept of modern Europe is a general term that embraces European values, the European standard of living, European policy, and European priorities, giving the concept of European studies a stable association with the European Union. In this context, the main causes and consequences for the scientific discourse, political practice, and future development of European countries must be considered. Neoinstitutionalists have attempted to analyse institutions based on atomistic methodology. Institutional transformations, processes of intra-European integration and enlargement of the EU, discussions on membership and exit from the EU raise issues of identity and development of governance in Europe. Europeanisation can be seen as a discourse, governance, and institutionalisation. The first interpretation emphasizes that modern Europe is a discourse, not only ideological but also administrative. In this sense, Europeanisation can be a means of expression of institutional globalization through domestic policy. In the article, the hypothesis is put forward and proved that the interpretation of the concept of modern Europe directly correlates with the future development of the European Union and its members. The dissemination of exclusive practices will help to spread the ideas of radical “Eurosceptics”, which could lead to the collapse of the European Union. The inclusive aspect of the concept of Europe is represented by the ideas of “Europeists” who, based on the common history, culture, mentality of the peoples of Europe, substantiate the positive influence on the state development of integration, non-state cooperation, and extrapolation of EU norms and principles into the new territories of Europe. There are three main reasons for shaping the concept of Europe as the boundaries of EU policy: The consolidation of political positions of the European Union and its growing role as an actor in world politics; Essence of the EU enlargement concepts; Features of development within the European community. The modern concept of Europe is considered in the context of a modern multi-level governance model. Therefore, Europeanisation is the interaction of different layers of interests, including structures of regional, multi-level governance, legitimacy of domestic and foreign policy. The impact of the multi-level governance system on the functioning of public administration systems in the Member States and neighbouring countries is considered. Four approaches are identified based on the analysis of relationships between different levels of governance. The necessity of formulating new theoretical paradigms defining the relations between the Member States and the technocratic institutions of the EU, as well as between the Europeanised system of national agencies and the ministries overseeing their activities, has been proved.
Purpose- The purpose of the study is to determine the land use change scenarios in Bash Qaleh dehestan.
Design/methodology/approach- Research methodology is based on futures studies and scenario studies. First, a list of drivers using documents 34 domestic and foreign research in the field of land use was prepared and then through the view of villagers and farmers (318) (Using Likert scale) and experts (22) the importance and their impact on land use were studied. For development scenarios, a team of five experts (2 rural planners, 2 regional planners, one natural resource expert) was used. Mick Mac software and Wizard scenario were also used for data analysis.
Findings- The results showed that people's income, production level, return on investment in activity, industrial agriculture and agricultural margin were the most effective and uncertain drivers of land use change. For these drivers, eight scenarios were developed and developed.
Practical implications- Food security, encouragement of conservation of resources, encouraging policies for population growth, increasing community well-being, droughts, climate change, soil erosion, the emphasis of civil society on the rights of citizens and protection of the rights of the next generation, the emphasis of governments on economic self-sufficiency is only part of the opposite trends which has faced land use challenges. It is suggested that specific programs be developed and monitored to avoid them for any scenario.
نوسانات قیمت سهام که منجر به نوسانات بازده شرکتها میگردد، یکی از مسائل مورد توجه و بحث بازارهای سرمایه و سرمایهگذاران میباشد؛ زیرا این نوسانات، میزان کسب درآمد از تخصیص منابع را نشان میدهد. بر همین اساس در تحقیق حاضر، با بررسی 107 شرکت پذیرفته شده در بورس اوراق بهادار تهران طی دوره زمانی 6 ساله از سال 1390 لغایت 1395 به دنبال بررسی رابطه بین همزمانی قیمت با توزیع نوسانات بازدهی سهام در شرکتهای پذیرفته شده در بورس اوراق بهادار تهران میباشد. تجزیه و تحلیل نتایج نشان میدهد که همزمانی قیمت و همراستا بودن حرکت تغییرات قیمت سهام با تغییرات شاخص بورس، توانایی تأثیرگذاری بر نوسانات بازدهی شرکتها را ندارد. تحلیلها بهگونه ای مشخص نمود که بین همزمانی قیمت و نوسانات سیستماتیک بازدهی سهام، ارتباط معنی داری وجود ندارد و همچنین بین همزمانی قیمت سهام و نوسانات غیر سیستماتیک بازدهی شرکتها نیز ارتباط معنی داری وجود ندارد. در واقع، تغییرات قیمت سهام الزاماً در راستای مسیر حرکت بازار نبوده و نوسانات بازدهی سهام شرکتها نمیتواند تحت تأثیر همزمانی قیمت هر شرکت نسبت به بازار باشد.
Banyak faktor yang mempengaruhi prestasi kerja (job performance) karyawan. Faktor tersebut dapat datang dari lingkungan luar perusahaan antara lain suasana tertib atau konflik dalam masyarakat dan keluarganya, tuntutan masyarakat terhadap karyawan sebagai anggota masyarakat, baik dari segi politik maupun dari segi sosial.
Economic growth, development, planning, Regional economics. Space in economics
Indonesia merupakan pasar potensial bagi bisnis eceran (retail), mengingat bisnis eceran menjangkau langsung konsumen akhir sebagai pasar sasarannya. Dengan 188juta penduduk dan jumlah kelas menengah (the rising middle class) yang semakin memiliki daya beli, maka hal itu jelas berpengaruh pada prospek bisnis eceran.
Economic growth, development, planning, Regional economics. Space in economics
A reliability model of a water supply network has beens examined. Its main features are: a topology that can be decomposed by the so-called state factorization into a (relatively)small number of derivative networks, each having a series-parallel structure (1), binary-state components (either operative or failed) with given flow capacities (2), a multi-state character of the whole network and its sub-networks - a network state is defined as the maximal flow between a source (sources) and a sink (sinks) (3), all capacities (component, network, and sub-network) have integer values (4). As the network operates, its state changes due to component failures, repairs, and replacements. A newly developed method of computing the inter-state transition intensities has been presented. It is based on the so-called state factorization and series-parallel aggregation. The analysis of these intensities shows that the failure-repair process of the considered system is an asymptotically homogenous Markov process. It is also demonstrated how certain reliability parameters useful for the network maintenance planning can be determined on the basis of the asymptotic intensities. For better understanding of the presented method, an illustrative example is given. (original abstract)
A tanulmány egy folyamatban lévő OTKA-kutatás keretében elemzi az agrárfoglalkoztatás szerkezetében végbement változások kapcsolatát a nemzetközi migrációs folyamattal, a külföldi idénymunkások szerepvállalását a magyar mezőgazdaságban. A tanulmány bemutatja a migráns mezőgazdasági idénymunkások számában és összetételében végbement változás folyamatát, munkavállalásuk térbeli jellegzetességét és a kapitalizmuskori munkaszervezési formákkal együtt újraéledő termelői hálózatokat, valamint a munkavállaló és foglalkoztató között kialakult kapcsolat sajátos formáit.
Az agrárium strukturális átalakulása, az üzemek számának és munkaerőigényének ugrásszerű növekedése az idénymunka piacának kialakulásához, új munkavállalói csoportok megjelenéséhez és a hagyományos munkaszervezési formák újraéledéséhez, felerősödéséhez vezetett. Az agrárfoglalkoztatás szerkezetének átalakulása egy időben zajlott a nemzetközi migráció kiterjedésével, melybe a szomszédos országok állampolgárai is bekapcsolódtak. Az olcsó bérezésű, a foglalkoztató szükségleteihez rugalmasan alkalmazkodó munkavállalók között a külföldi – döntőrészt romániai – idénymunkások megjelenése a kapcsolati hálók, a munkaszervezési formák térbeli, országhatárt átlépő kiterjesztéséhez, gazdagodásához, a rendelkezésre álló munkások számának emelkedéséhez vezetett. A külföldi idénymunkások számának csökkenésével, etnikai és társadalmi összetételének változásával a migránsokat mozgató termelői hálózatok részben meggyengültek, részben differenciálódtak, de vannak olyan térségek is, ahol teljesen eltűntek. Bármennyire is látványos a külföldi munkások számának csökkenése a munkaerőhiányos térségekben, amíg a két ország között létező bér- és jövedelmi különbségek nem csökkennek, a romániai napszámosok a magyar gazdaságok munkaerő-utánpótlását biztosítják. A migráns mezőgazdasági idénymunkások heterogén csoportjai között az elmúlt másfél évtizedben végbement a foglalkoztató számára értékes munkavállalói kör kiválasztódása, melynek tagjai eltérő formában kötődnek a munkát biztosító gazdaságokhoz, termelőkhöz.
History (General) and history of Europe, Economic history and conditions
Nur Anissa Kharismawati, Yeni Priatna Sari, Mulyadi Mulyadi
<p>Bank merupakan lembaga keuangan yang memiliki peranan penting dalam perekonomian suatu<br />Negara. Dimana suatu bank memiliki peranan dalam proses pengelolaan atau penyaluran mata uang serta<br />tempat penyimpanan benda-benda berharga. Sebagai lembaga keuangan yang memiliki berbagai macam jasa<br />tentunya tidak mudah dalam menjalankan operasionalnya guna menjaga tingkat likuiditasnya serta menjaga<br />kepercayaan masyarakat terhadap kinerja bank tersebut. Penelitian ini adalah untuk mengetahui kemampuan<br />dalam membayar kewajiban jangka pendek pada PD. BPR Bank TGR. Teknik pengumpulan data yang<br />digunakan adalah metode wawancara, metode observasi dan dokumentasi. Sedangkan teknik analisis data<br />yang digunakan adalah deskriptif kuantitatif. Jenis data yang digunakan dalam penelitian ini adalah data<br />primer dan data sekunder. Hasil perhitungan analisis tingkat likuiditas pada PD. BPR Bank TGR dengan<br />menggunakan cash ratio dinilai sehat dan loan to deposit ratio dinilai sehat sesuai kriteria yang ditentukan<br />oleh Bank Indonesia. Cash ratio pada tahun 2013 mengalami penurunan dari tahun 2012 yaitu sebesar<br />50,07%, tahun 2014 mengalami peningkatan dari tahun 2013 sebesar 205,44%. Sedang untuk loan to deposit<br />ratio pada tahun 2013 mengalami kenaikan sebesar 1,54% dari tahun 2012 dan pada tahun 2014 mengalami<br />penurunan dari tahun 2013 sebesar 0,81%.<br />Kata kunci : Likuiditas, Cash Ratio , loan to the deposit ratio</p>
علی دهقانی, محمدعلی مولایی, سمانه حسین زاده
et al.
هدف اصلی این پژوهش، بررسی تأثیر عملکرد بازار، هزینههای تبلیغات و نوآوری بر درجه تمرکز در صنایع تولید مواد غذایی و آشامیدنی ایران است. بدین منظور از دادهها و اطلاعات مربوط به کارگاههای صنعتی با 10 نفر کارکن و بالاتر تولیدکننده محصولات مواد غذایی و آشامیدنی ایران در سالهای 1374-1388 استفاده کرده و مدل اقتصادسنجی را با استفاده از روش دادههای تابلویی پویا برآورد کردهایم. در این مقاله از نسبت ارزش افزوده به فروش بهمنظور محاسبه نرخ سودآوری در صنایع تولید مواد غذایی و آشامیدنی ایران و اندازهگیری عملکرد بازار، و بهمنظور اندازهگیری درجه تمرکز نیز از نسبت تمرکز 4 بنگاه برتر استفاده کردهایم. افزون بر این، از متغیرهای شدت تبلیغات و شدت تحقیقات نیز بهعنوان متغیرهای رفتاری بازار در مدل اقتصادسنجی استفاده کردهایم. یافتههای این پژوهش نشان میدهد که متغیرهای نرخ سودآوری و هزینههای تحقیق و توسعه، اثر منفی و متغیر هزینههای تبلیغات اثر مثبت و معنادار بر درجه تمرکز در صنایع تولید مواد غذایی و آشامیدنی ایران دارند.