Hasil untuk "Economic history and conditions"

Juan Carlos de Pablo

Hacía mucho tiempo que el fallecimiento de un economista en Argentina no generaba el shock que produjo el deceso de Víctor, ocurrido el 17 de marzo de 2023. Reacción totalmente justificable, porque el multifacético tucumano fue un gigante: por su obra escrita, por su labor como profesor y “gerenciador” de muchísimas carreras de otros economistas, y por su personalidad.

Alessandro Bellina, Paolo Buttà, Vito D. P. Servedio

Economic complexity algorithms aim to uncover the hidden capabilities that drive economic systems. Here, we present a fundamental reinterpretation of two of these algorithms, the Economic Complexity Index (ECI) and the Economic Fitness and Complexity (EFC), by reformulating them as optimization problems that minimize specific cost functions. We show that ECI computation is equivalent to finding eigenvectors of the network's transition matrix by minimizing the quadratic form associated with the network's Laplacian. For EFC, we derive a novel cost function that exploits the algorithm's intrinsic logarithmic structure and clarifies the role of the regularization parameter in its non-homogeneous version. Additionally, we establish the existence and uniqueness of its solution, providing theoretical foundations for its application. This optimization-based reformulation bridges economic complexity and established frameworks in spectral theory, network science, and optimization. The theoretical insights translate into practical computational advantages: we introduce a conservative, gradient-based update rule that substantially accelerates algorithmic convergence, with potential implications for a broader class of algorithms, including the Sinkhorn-Knopp method. Finally, we apply the energetic framework to a real-world trade network, demonstrating how link-wise energy provides a direct way to identify structurally relevant and vulnerable regions of the export matrix, thus complementing and enriching standard economic complexity analyses. Beyond advancing our theoretical understanding of economic complexity indicators, this work opens new pathways for algorithmic improvements and extends applicability to general network structures beyond traditional bipartite economic networks.

Paul X. McCarthy, Xian Gong, Marieth Coetzer et al.

This study explores the relationship between personality diversity and national economic performance, introducing the Global Personality Diversity Index ($Ψ$-GPDI) as a novel metric. Leveraging a dataset of 760,242 individuals across 135 countries, we quantify within-country diversity based on the Big Five personality traits. Our findings reveal that personality diversity accounts for 19.9% of the variance in GDP per capita and provides an additional 2.8% explanatory power beyond institutional quality and immigration, underscoring its unique contribution to economic vitality. Through multi-factor analysis, we demonstrate how personality diversity complements existing economic frameworks, offering actionable insights for policymakers seeking to enhance innovation, productivity, and resilience. This research positions psychological diversity as a critical yet under explored factor in driving economic growth, bridging the fields of psychology and economics.

Bogdan Oancea

The term of big data was used since 1990s, but it became very popular around 2012. A recent definition of this term says that big data are information assets characterized by high volume, velocity, variety and veracity that need special analytical methods and software technologies to extract value form them. While big data was used at the beginning mostly in information technology field, now it can be found in every area of activity: in governmental decision-making processes, manufacturing, education, healthcare, economics, engineering, natural sciences, sociology. The rise of Internet, mobile phones, social media networks, different types of sensors or satellites provide enormous quantities of data that can have profound effects on economic research. The data revolution that we are facing transformed the way we measure the human behavior and economic activities. Unemployment, consumer price index, population mobility, financial transactions are only few examples of economic phenomena that can be analyzed using big data sources. In this paper we will start with a taxonomy of big data sources and show how these new data sources can be used in empirical analyses and to build economic indicators very fast and with reduced costs.

Yue Chen, Mohan Li

When analyzing the components influencing the stock prices, it is commonly believed that economic activities play an important role. More specifically, asset prices are more sensitive to the systematic economic news that impose a pervasive effect on the whole market. Moreover, the investors will not be rewarded for bearing idiosyncratic risks as such risks are diversifiable. In the paper Economic Forces and the Stock Market 1986, the authors introduced an attribution model to identify the specific systematic economic forces influencing the market. They first defined and examined five classic factors from previous research papers: Industrial Production, Unanticipated Inflation, Change in Expected Inflation, Risk Premia, and The Term Structure. By adding in new factors, the Market Indices, Consumptions and Oil Prices, one by one, they examined the significant contribution of each factor to the stock return. The paper concluded that the stock returns are exposed to the systematic economic news, and they are priced with respect to their risk exposure. Also, the significant factors can be identified by simply adopting their model. Driven by such motivation, we conduct an attribution analysis based on the general framework of their model to further prove the importance of the economic factors and identify the specific identity of significant factors.

Nick James, Max Menzies, Kevin Chin

Motivated by the current fears of a potentially stagflationary global economic environment, this paper uses new and recently introduced mathematical techniques to study multivariate time series pertaining to country inflation (CPI), economic growth (GDP) and equity index behaviours. We begin by assessing the temporal evolution among various economic phenomena, and complement this analysis with `economic driver analysis,' where we decouple country economic trajectories and determine what is most important in their association. Next, we study the temporal self-similarity of global inflation, growth and equity index returns to identify the most anomalous historic periods, and windows in the past that are most similar to current market dynamics. We then introduce a new algorithm to construct economic state classifications and compute an economic state integral, where countries are determined to belong in one of four candidate states based on their inflation and growth behaviours. Finally, we implement a decade-by-decade portfolio optimisation to determine which equity indices and portfolio assets have been most beneficial in maximising portfolio risk-adjusted returns in various market conditions. This could be of great interest to those looking for asset allocation guidance in the current period of high economic uncertainty.

Olival Freire Junior

Alain Aspect's three experiments on Bell's theorem, published in the early 1980s, were a turning point in the history of the research on the foundations of quantum mechanics not only because they corroborated entanglement as the distinctive quantum signature but also because these experiments brought wider recognition to this field of research and Aspect himself. These experiments may be considered the most direct precursors of the research on quantum information, which would blossom a decade later.

Rosa Maria Vieira

Este artigo tem como objetivo analisar as concepções teóricas de Celso Furtado e discutir as acomodações que realiza entre teoria da CEPAL e o moderno pensamento social brasileiro. Procura-se ressaltar a importância da multidisciplinaridade na sua formação intelectual, discutir suas concepções sobre os papeis do Estado e dos intelectuais no processo de desenvolvimento da periferia e, além disso, sublinhar seu status de pensador social no Brasil.

Maria A. Shishanina, Anatoly A. Sidorov

The paper discusses the process of social and economic development of municipalities. A conclusion is made that developing an adequate model of social and economic development using conventional approaches presents a considerable challenge. It is proposed to use semantic modeling to represent the social and economic development of municipalities, and cognitive mapping to identify the set of connections that occur among indicators and that have a direct impact on social and economic development.

MARIETTA KISS

Vélemény:  Filep Bálint: A nagyvárosok az európai és a magyar területi politikában. Publikon Kiadó, Pécs–Győr, 2014.

DÁVID FEKETE

Az Európai Unió válságkezelési stratégiájának egyik fontos része a gazdasági szabályozás szigorítása, az új szabályok alkotása. A tanulmány célja, hogy bemutassa a közös gazdasági kormányzás érdekében hozott új szabályok (így az ún. hatos csomag, az európai szemeszter, az euró plusz paktum és a fiskális paktum) legfőbb jellemzőit. A szerző megvizsgálja ezek egymáshoz fűződő viszonyát, továbbá a magyar Európa-politika szerepvállalását a 2011- es EU-elnökségtől napjainkig, értékeli a magyar kormány európai válságkezeléssel kapcsolatos tevékenységét és feltárja az egyes döntések hátterét is.

SÁNDOR MEISEL

Az Európai Unió közös kereskedelempolitikája – néhány más, közösségi szintre emelt politikával ellentétben – az elmúlt évtizedek során elkerülte a viharos változásokat, fordulatszerű átértékeléseket és a látványos reformokat. Ez a közös szabályozási terület az eredeti alapelveket és működési mechanizmusát megtartva képes volt alkalmazkodni a változó világgazdasági és az átalakuló belső integrációs feltételekhez, választ adni az új kihívásokra. Ez a tény azonban nem jelenti azt, hogy a közös kereskedelempolitika megformálása mögött meghúzódó nyilvánvaló vagy rejtett dilemmákra ne kellett volna reagálnia. E hagyományos vagy az utóbbi években kialakult dilemmák, vitás kérdések befolyásolták a kereskedelempolitika mindenkori irányultságát, folyamatosan hatnak a napirenden tartott és megvalósítani kívánt prioritásokra, időnként óhatatlanul felerősítve és előtérbe helyezve egy-egy kereskedelempolitikai törekvést. Ez a körülményekhez igazodó, természetesnek tekinthető ingadozás, a kisebb fordulatok az elmúlt bő évtizedben követett uniós kereskedelempolitikában is tetten érhetők.

Lucrecia Aboslaiman

Considerar las principales cuestiones que le plantean al derecho los cambios producidos en las sociedades contemporáneas, es un debate que implica asumir qué pasa con el conocimiento en general y el jurídico en particular. El presente trabajo aborda la problemática de una realidad socio-cultural compleja, posmoderna y globalizada, y presenta la necesidad de su abordaje desde un derecho considerado no sólo en su faz normativa, sino también antropológica, social, cultural y ético-jurídica. Planteamos un conjunto de ideas y algunas hipótesis, claves y orientaciones, partiendo de una sociedad globalizada, con la inserción de la reivindicación de los derechos humanos protegidos por una ética universal conectada y relacionada con el derecho. Procurar construir un mundo jurídico multidimensional en una sociedad libre, justa y democrática, dentro de un contexto de sociedad posmoderna y globalizada, con avances tecnológicos que crecen de una manera vertiginosa y repercuten en el hombre, en la sociedad y en el derecho de diferentes formas, según el lugar y el tiempo en que los mismos se den.

Abhijit Chakraborty, Hiroyasu Inoue, Yoshi Fujiwara

Every nation prioritizes the inclusive economic growth and development of all regions. However, we observe that economic activities are clustered in space, which results in a disparity in per-capita income among different regions. A complexity-based method was proposed by Hidalgo and Hausmann [PNAS 106, 10570-10575 (2009)] to explain the large gaps in per-capita income across countries. Although there have been extensive studies on countries' economic complexity using international export data, studies on economic complexity at the regional level are relatively less studied. Here, we study the industrial sector complexity of prefectures in Japan based on the basic information of more than one million firms. We aggregate the data as a bipartite network of prefectures and industrial sectors. We decompose the bipartite network as a prefecture-prefecture network and sector-sector network, which reveals the relationships among them. Similarities among the prefectures and among the sectors are measured using a metric. From these similarity matrices, we cluster the prefectures and sectors using the minimal spanning tree technique.The computed economic complexity index from the structure of the bipartite network shows a high correlation with macroeconomic indicators, such as per-capita gross prefectural product and prefectural income per person. We argue that this index reflects the present economic performance and hidden potential of the prefectures for future growth.

Attila Balogh

A tanulmány Luther Márton gazdasági elképzeléseit egy elhanyagolt nézőpontból vizsgálja. Luther írásait természetesen nagymértékben vallási kérdések és témák dominálták. Amikor gazdasági témák felé fordult, elsősorban a bankok és a kereskedő cégek uzsora gyakorlatával foglalkozott. Luther írásaiban foglalkozott piaci viselkedésről, költségekről és keresletről, a gazdasági kényszer, összejátszás és bizonyos monopolisztikus gyakorlatok ellen érvelt. „Martin Luther’s Doctrine on Trade and Price in Its Literary Context” History of Political Economy 41(1):89-107

David Andrés Camargo Mayorga

Johannes Preiser-Kapeller

Based on palaeoenvironmental, historical and archaeological data, the paper proposes possible climatic impacts on the history of the Avar Khaganate, which comprised the Carpathian Basin between the late 6th and the early 9th century AD. While the establishment of the Avars in East Central Europe took place within a period characterised by cold and dry climatic conditions (recently identified as Late Antique Little Ice Age), more stable climatic parameters may have favoured the stabilisation of Avar rule after a crisis in the aftermath of 626 AD. Data indicates growth of settlement and agricultural activity up to the mid-8th century. These developments did not necessarily strengthen central power, but may have contributed to a greater autonomy of various groups on the basis of increased resources. The Khaganate quickly disintegrated faced by the Carolingian advance of the 790s; the last decades of documented Avar presence were again accompanied by environmental vicissitudes.

Angelica Sbardella, Emanuele Pugliese, Andrea Zaccaria et al.

Development and growth are complex and tumultuous processes. Modern economic growth theories identify some key determinants of economic growth. However, the relative importance of the determinants remains unknown, and additional variables may help clarify the directions and dimensions of the interactions. The novel stream of literature on economic complexity goes beyond aggregate measures of productive inputs, and considers instead a more granular and structural view of the productive possibilities of countries, i.e. their capabilities. Different endowments of capabilities are crucial ingredients in explaining differences in economic performances. In this paper we employ economic fitness, a measure of productive capabilities obtained through complex network techniques. Focusing on the combined roles of fitness and some more traditional drivers of growth, we build a bridge between economic growth theories and the economic complexity literature. Our findings, in agreement with other recent empirical studies, show that fitness plays a crucial role in fostering economic growth and, when it is included in the analysis, can be either complementary to traditional drivers of growth or can completely overshadow them.

Sergey A. Rashkovskiy

We analyze social and economic systems with a hierarchical structure and show that for such systems, it is possible to construct thermostatistics, based on the intermediate Gentile statistics. We show that in social and economic hierarchical systems there are elements that obey the Fermi-Dirac statistics and can be called fermions, as well as elements that are approximately subject to Bose-Einstein statistics and can be called bosons. We derive the first and second laws of thermodynamics for the considered economic system and show that such concepts as temperature, pressure and financial potential (which is an analogue of the chemical potential in thermodynamics) that characterize the state of the economic system as a whole, can be introduced for economic systems.

Jian Gao, Tao Zhou

China has experienced an outstanding economic expansion during the past decades, however, literature on non-monetary metrics that reveal the status of China's regional economic development are still lacking. In this paper, we fill this gap by quantifying the economic complexity of China's provinces through analyzing 25 years' firm data. First, we estimate the regional economic complexity index (ECI), and show that the overall time evolution of provinces' ECI is relatively stable and slow. Then, after linking ECI to the economic development and the income inequality, we find that the explanatory power of ECI is positive for the former but negative for the latter. Next, we compare different measures of economic diversity and explore their relationships with monetary macroeconomic indicators. Results show that the ECI index and the non-linear iteration based Fitness index are comparative, and they both have stronger explanatory power than other benchmark measures. Further multivariate regressions suggest the robustness of our results after controlling other socioeconomic factors. Our work moves forward a step towards better understanding China's regional economic development and non-monetary macroeconomic indicators.