Pub Date : 2018-06-27DOI: 10.17979/EJGE.2018.7.1.4332
M. Haile, M. Maštálka
The strategic planning process has been implemented into the local governance environment in the Czech Republic during last two decades. But the strategic goals that are expressed in the strategic development documents on the local level are only the part of the issues that are to be fulfilled or solved by the local government. In the everyday practical governance there is always a list of projects that appear from the actual technological, technical, public or political demand. The contemporary decision-making process is based on the personal or collective political decision or on the actual technical demand. But there are also municipalities that are already implementing strategic planning and want to avoid unsystematic interventions and decision-making processes. They try to adopt some attitudes from the corporate sphere to make the decision-making process more open and clear. This paper deals with the methodology of the mid-size city and tries to discuss it and offer some improvements. The paper’s other goals are to offer comparison of typical projects that could be found on the local level and to make a model of results provided by the different methodologies used for the decision-making process, specifically weighted sum average and analytic hierarchy process.
{"title":"Contemporary decision-making of mid-size city in the Czech Republic using Multiple Criteria Decision-making","authors":"M. Haile, M. Maštálka","doi":"10.17979/EJGE.2018.7.1.4332","DOIUrl":"https://doi.org/10.17979/EJGE.2018.7.1.4332","url":null,"abstract":"The strategic planning process has been implemented into the local governance environment in the Czech Republic during last two decades. But the strategic goals that are expressed in the strategic development documents on the local level are only the part of the issues that are to be fulfilled or solved by the local government. In the everyday practical governance there is always a list of projects that appear from the actual technological, technical, public or political demand. The contemporary decision-making process is based on the personal or collective political decision or on the actual technical demand. But there are also municipalities that are already implementing strategic planning and want to avoid unsystematic interventions and decision-making processes. They try to adopt some attitudes from the corporate sphere to make the decision-making process more open and clear. This paper deals with the methodology of the mid-size city and tries to discuss it and offer some improvements. The paper’s other goals are to offer comparison of typical projects that could be found on the local level and to make a model of results provided by the different methodologies used for the decision-making process, specifically weighted sum average and analytic hierarchy process.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44044825","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-27DOI: 10.17979/EJGE.2018.7.1.4331
J. Martín-Legendre
This paper presents a review of the main available indicators to measure poverty and income inequality, examining their properties and suitability for different types of economic analyses, and providing real-world data to illustrate how they work. Although some of these metrics –such as the Gini coefficient– are most frequently used for this purpose, it is crucially important for researchers and policy-makers to take into account alternative methods that can offer complementary information in order to better understand these issues at all levels.
{"title":"The challenge of measuring poverty and inequality: a comparative analysis of the main indicators","authors":"J. Martín-Legendre","doi":"10.17979/EJGE.2018.7.1.4331","DOIUrl":"https://doi.org/10.17979/EJGE.2018.7.1.4331","url":null,"abstract":"This paper presents a review of the main available indicators to measure poverty and income inequality, examining their properties and suitability for different types of economic analyses, and providing real-world data to illustrate how they work. Although some of these metrics –such as the Gini coefficient– are most frequently used for this purpose, it is crucially important for researchers and policy-makers to take into account alternative methods that can offer complementary information in order to better understand these issues at all levels.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48010716","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-27DOI: 10.17979/ejge.2018.7.1.4334
Beatriz López-Bermúdez, María Jesús Freire-Seoane, Ignacio de la Peña Zarzuelo
Latin American countries have historically had a strong dependence on trade, and are mostly characterized by being exporters of raw materials and importers of manufactured products. This fact has brought about a less negative impact of the world crisis on economic growth, mainly because of the high prices of raw materials.This paper focuses on this geographical area (the West Coast of Latin America) between 2008 and 2015, and adds to the literature by assessing institutional, port-related and economic factors that influence maritime transport. The analysis makes use of panel data models with fixed and random effects where the Hausman test has been applied in order to define a solid specification of all the ports, as well as to discount the particular peculiarities of each country.It is shown that the analysis of maritime transport requires the analysis of a number of variables apart from trade (volume of TEUs), infrastructures, superstructures (number of calls, gantry cranes), and that other variables, such as port governance, which are sometimes difficult to quantify, need also to be taken into account.
{"title":"The impact of port governance and infrastructures on maritime containerized trade on the West Coast of Latin America","authors":"Beatriz López-Bermúdez, María Jesús Freire-Seoane, Ignacio de la Peña Zarzuelo","doi":"10.17979/ejge.2018.7.1.4334","DOIUrl":"https://doi.org/10.17979/ejge.2018.7.1.4334","url":null,"abstract":"Latin American countries have historically had a strong dependence on trade, and are mostly characterized by being exporters of raw materials and importers of manufactured products. This fact has brought about a less negative impact of the world crisis on economic growth, mainly because of the high prices of raw materials.This paper focuses on this geographical area (the West Coast of Latin America) between 2008 and 2015, and adds to the literature by assessing institutional, port-related and economic factors that influence maritime transport. The analysis makes use of panel data models with fixed and random effects where the Hausman test has been applied in order to define a solid specification of all the ports, as well as to discount the particular peculiarities of each country.It is shown that the analysis of maritime transport requires the analysis of a number of variables apart from trade (volume of TEUs), infrastructures, superstructures (number of calls, gantry cranes), and that other variables, such as port governance, which are sometimes difficult to quantify, need also to be taken into account.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44505456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-27DOI: 10.17979/EJGE.2018.7.1.4330
A. Hawley
It is widely reported that there is a data deficit regarding working conditions in the gig economy. It is known, however, that workers are disadvantaged because they are not classed as employees with the result that they lack work-related entitlements and may not be protected by the social welfare safety net. Nor is this compatible with the social market economy enshrined in the European Union treaties. Two obstacles are that labour law and social policy are mainly a national competence and that platforms are reluctant to share data with regulators. In this paper I take the specific case of offline labour platforms intermediated by app and smart phone such as driving and delivering and look for new pathways between access to data and the shaping of public policy in member states with potentially legal certainty.
{"title":"Regulating labour platforms, the data deficit","authors":"A. Hawley","doi":"10.17979/EJGE.2018.7.1.4330","DOIUrl":"https://doi.org/10.17979/EJGE.2018.7.1.4330","url":null,"abstract":"It is widely reported that there is a data deficit regarding working conditions in the gig economy. It is known, however, that workers are disadvantaged because they are not classed as employees with the result that they lack work-related entitlements and may not be protected by the social welfare safety net. Nor is this compatible with the social market economy enshrined in the European Union treaties. Two obstacles are that labour law and social policy are mainly a national competence and that platforms are reluctant to share data with regulators. In this paper I take the specific case of offline labour platforms intermediated by app and smart phone such as driving and delivering and look for new pathways between access to data and the shaping of public policy in member states with potentially legal certainty.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41645565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-31DOI: 10.17979/EJGE.2017.6.2.4327
Matías Membiela-Pollán, José Atilano Pena-López
The concept of social capital has received increasing attention in recent years. The complexity and multidimensionality that accompany the variable of social capital have caused confusion and ambiguity. This article presents a synthesis of social capital in three perspectives. From the individualistic or micro-social perspective, social capital is an "individual resource" that consists of the networks of relations of the focal subject that bring it a set of instrumental and expressive resources. For the communitarian or meso-social perspective, social capital is a "community resource" or set of attributes and properties present in the social structure (shared norms and values, private trust, closure ...) that facilitate its functioning and collective action. Finally, for the macrosocial perspective, social capital is a "macrosocial and macroinstitutional resource" resting on aspects such as civic-mindedness, general trust and social cohesion, which favors the functioning of the economy and society in general.
{"title":"Clarifying the concept of social capital through its three perspectives: individualistic, communitarian and macrosocial","authors":"Matías Membiela-Pollán, José Atilano Pena-López","doi":"10.17979/EJGE.2017.6.2.4327","DOIUrl":"https://doi.org/10.17979/EJGE.2017.6.2.4327","url":null,"abstract":"The concept of social capital has received increasing attention in recent years. The complexity and multidimensionality that accompany the variable of social capital have caused confusion and ambiguity. This article presents a synthesis of social capital in three perspectives. From the individualistic or micro-social perspective, social capital is an \"individual resource\" that consists of the networks of relations of the focal subject that bring it a set of instrumental and expressive resources. For the communitarian or meso-social perspective, social capital is a \"community resource\" or set of attributes and properties present in the social structure (shared norms and values, private trust, closure ...) that facilitate its functioning and collective action. Finally, for the macrosocial perspective, social capital is a \"macrosocial and macroinstitutional resource\" resting on aspects such as civic-mindedness, general trust and social cohesion, which favors the functioning of the economy and society in general.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41942803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-31DOI: 10.17979/EJGE.2017.6.2.4329
Nasreen Nawaz
Following Ramsey, the existing literature on optimal quantity taxation only compares the pre and the post-tax market equilibriums in order to account for the efficiency losses. However, when the government imposes a quantity tax on the consumer, the buyer’s price jumps to the pre-tax equilibrium price plus the amount of the tax, and the supply and the demand of the taxed commodity then adjust over time to bring the new post-tax market equilibrium. The existing literature does not take into account the efficiency losses during the adjustment process while computing the optimal quantity taxes. This paper derives an optimal quantity tax path in a dynamic setting minimizing the efficiency losses (output and/ or consumption lost) during the dynamic adjustment process as well as the post-tax market equilibrium.
{"title":"An optimal quantity tax path in a dynamic setting","authors":"Nasreen Nawaz","doi":"10.17979/EJGE.2017.6.2.4329","DOIUrl":"https://doi.org/10.17979/EJGE.2017.6.2.4329","url":null,"abstract":"Following Ramsey, the existing literature on optimal quantity taxation only compares the pre and the post-tax market equilibriums in order to account for the efficiency losses. However, when the government imposes a quantity tax on the consumer, the buyer’s price jumps to the pre-tax equilibrium price plus the amount of the tax, and the supply and the demand of the taxed commodity then adjust over time to bring the new post-tax market equilibrium. The existing literature does not take into account the efficiency losses during the adjustment process while computing the optimal quantity taxes. This paper derives an optimal quantity tax path in a dynamic setting minimizing the efficiency losses (output and/ or consumption lost) during the dynamic adjustment process as well as the post-tax market equilibrium.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46846799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-31DOI: 10.17979/EJGE.2017.6.2.4328
Santos Miguel Ruesga-Benito, F. González-Laxe, Jose Picatoste
The minimum wage establishment has its origin in the first third of the last century. Since its creation has been a focus of continuing controversy and an unfinished debate on economics field. This work reviews the effects of the minimum wage on employment and other macroeconomic variables, from both theoretical and empirical perspectives. The method is based on the revision of the literature and the main economic indicators. The central contribution of this paper is providing a general reflection on theoretical and empirical analysis about the debate on minimum wage and its effects. The results showed that some labor policies are taking account the effects of austerity strategies, shifting the attention towards the implementation of minimum wages or their updating, in order to reduce the growing inequalities in the distribution of income, and even poverty levels.
{"title":"The debate on the economic effects of minimum wage legislation","authors":"Santos Miguel Ruesga-Benito, F. González-Laxe, Jose Picatoste","doi":"10.17979/EJGE.2017.6.2.4328","DOIUrl":"https://doi.org/10.17979/EJGE.2017.6.2.4328","url":null,"abstract":"The minimum wage establishment has its origin in the first third of the last century. Since its creation has been a focus of continuing controversy and an unfinished debate on economics field. This work reviews the effects of the minimum wage on employment and other macroeconomic variables, from both theoretical and empirical perspectives. The method is based on the revision of the literature and the main economic indicators. The central contribution of this paper is providing a general reflection on theoretical and empirical analysis about the debate on minimum wage and its effects. The results showed that some labor policies are taking account the effects of austerity strategies, shifting the attention towards the implementation of minimum wages or their updating, in order to reduce the growing inequalities in the distribution of income, and even poverty levels.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47931278","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-07-07DOI: 10.17979/EJGE.2017.6.1.4321
M. Huhtilainen
The paper discusses the renewed short selling regulation (Regulation (EU) No 236/2012) in the European Union. The focus is on the provisions that deal with prohibiting short selling in exceptional market circumstances. The Regulation further enforces certain obligations to report and disclose short positions. It is concluded that banning short selling is not an effective tool to contain extreme price volatility. The difference-in-differences regression and repeated measures GLM were used to test whether short selling bans were successful in containing volatility of those Spanish and Italian stocks that were subject to two back-to-back prohibitions during the years 2011-2013. The results are consistent with the majority of previous research, suggesting that the effectiveness of short sale constraints in reducing volatility is limited at best. Furthermore, there are evidence of counterproductive effects: constraints on short selling may actually increase volatility as well as deteriorate liquidity. However, based on theory and previous studies, reporting and disclosure requirements shall be favored provided they improve market efficiency as well as supervisory work of regulatory bodies. Normal 0 21 false false false ES X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Tabla normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:none; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-US; mso-fareast-language:EN-US;} This paper discusses the renewed short selling regulation (Regulation (EU) No 236/2012) in the European Union. The focus is on the provisions that deal with prohibiting short selling in exceptional market circumstances. The Regulation further enforces certain obligations to report and disclose short positions. It is concluded that banning short selling is not an effective tool to contain extreme price volatility. The difference-in-differences regression and repeated measures GLM were used to test whether short selling bans were successful in containing volatility of those Spanish and Italian stocks that were subject to two back-to-back prohibitions during the years 2011-2013. The results are consistent with the majority of previous research, suggesting that the effectiveness of short sale constraints in reducing volatility is limited at best. Furthermore, there are evidence of counterproductive effects: constraints on short selling may actually increase volatility as well as deteriorate liquidity. However, based on theory and previous studies, reporting and disclosure requirements shall be favored provided they improve market efficiency as well as
{"title":"The Short Selling Regulation in the EU: Assessing the Authorization Granted for ESMA to Prohibit Short Selling","authors":"M. Huhtilainen","doi":"10.17979/EJGE.2017.6.1.4321","DOIUrl":"https://doi.org/10.17979/EJGE.2017.6.1.4321","url":null,"abstract":"The paper discusses the renewed short selling regulation (Regulation (EU) No 236/2012) in the European Union. The focus is on the provisions that deal with prohibiting short selling in exceptional market circumstances. The Regulation further enforces certain obligations to report and disclose short positions. It is concluded that banning short selling is not an effective tool to contain extreme price volatility. The difference-in-differences regression and repeated measures GLM were used to test whether short selling bans were successful in containing volatility of those Spanish and Italian stocks that were subject to two back-to-back prohibitions during the years 2011-2013. The results are consistent with the majority of previous research, suggesting that the effectiveness of short sale constraints in reducing volatility is limited at best. Furthermore, there are evidence of counterproductive effects: constraints on short selling may actually increase volatility as well as deteriorate liquidity. However, based on theory and previous studies, reporting and disclosure requirements shall be favored provided they improve market efficiency as well as supervisory work of regulatory bodies. Normal 0 21 false false false ES X-NONE X-NONE /* Style Definitions */ \u0000 table.MsoNormalTable \u0000 {mso-style-name:\"Tabla normal\"; \u0000 mso-tstyle-rowband-size:0; \u0000 mso-tstyle-colband-size:0; \u0000 mso-style-noshow:yes; \u0000 mso-style-priority:99; \u0000 mso-style-parent:\"\"; \u0000 mso-padding-alt:0cm 5.4pt 0cm 5.4pt; \u0000 mso-para-margin:0cm; \u0000 mso-para-margin-bottom:.0001pt; \u0000 mso-pagination:none; \u0000 font-size:11.0pt; \u0000 font-family:\"Calibri\",sans-serif; \u0000 mso-ascii-font-family:Calibri; \u0000 mso-ascii-theme-font:minor-latin; \u0000 mso-hansi-font-family:Calibri; \u0000 mso-hansi-theme-font:minor-latin; \u0000 mso-ansi-language:EN-US; \u0000 mso-fareast-language:EN-US;} \u0000 This paper discusses the renewed short selling regulation (Regulation (EU) No 236/2012) in the European Union. The focus is on the provisions that deal with prohibiting short selling in exceptional market circumstances. The Regulation further enforces certain obligations to report and disclose short positions. It is concluded that banning short selling is not an effective tool to contain extreme price volatility. The difference-in-differences regression and repeated measures GLM were used to test whether short selling bans were successful in containing volatility of those Spanish and Italian stocks that were subject to two back-to-back prohibitions during the years 2011-2013. The results are consistent with the majority of previous research, suggesting that the effectiveness of short sale constraints in reducing volatility is limited at best. Furthermore, there are evidence of counterproductive effects: constraints on short selling may actually increase volatility as well as deteriorate liquidity. However, based on theory and previous studies, reporting and disclosure requirements shall be favored provided they improve market efficiency as well as","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41273356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-07-07DOI: 10.17979/EJGE.2017.6.1.4323
N. Soboleva
The paper aims to compare the perceptions of gender equality of individuals more or less affected by economic crisis in Europe. Crisis touched the economy of most European countries but to a different extent. Special focus is given to the perceptions of gender equality of vulnerable groups (female, lesser-educated, one-adult households with children). The data is Eurobarometer 2011. The sample is limited to respondents aged 18-65. According to the results of multilevel regression analysis, those who have suffered from crisis assess lower the current level of gender equality whereas perceptions of gender equality do not differ depending on the effect of crisis upon the country. Women assess gender equality more positively compared to men. Those who live in one-adult households with children have higher perceptions of gender equality compared to those who live in other types of households. The discrepancy between lesser-educated and higher educated is larger in countries that suffered less from crisis. However, when the change in GDP per capita is taken as a measure of crisis the effects for family structure and education are not robust.
{"title":"Perceptions of gender equality in post-crisis Europe","authors":"N. Soboleva","doi":"10.17979/EJGE.2017.6.1.4323","DOIUrl":"https://doi.org/10.17979/EJGE.2017.6.1.4323","url":null,"abstract":"The paper aims to compare the perceptions of gender equality of individuals more or less affected by economic crisis in Europe. Crisis touched the economy of most European countries but to a different extent. Special focus is given to the perceptions of gender equality of vulnerable groups (female, lesser-educated, one-adult households with children). The data is Eurobarometer 2011. The sample is limited to respondents aged 18-65. According to the results of multilevel regression analysis, those who have suffered from crisis assess lower the current level of gender equality whereas perceptions of gender equality do not differ depending on the effect of crisis upon the country. Women assess gender equality more positively compared to men. Those who live in one-adult households with children have higher perceptions of gender equality compared to those who live in other types of households. The discrepancy between lesser-educated and higher educated is larger in countries that suffered less from crisis. However, when the change in GDP per capita is taken as a measure of crisis the effects for family structure and education are not robust.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44695264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-07-07DOI: 10.17979/EJGE.2017.6.1.4324
I. Boadi, Hayford Amegbe
The present study investigates the link between quality of governance and stock market performance within the context of international markets. The study employed the Fixed Effect model using 23 countries with complete relevant data for the period spanning from 1996 to 2014. The study reveals that, quality of governance as captured by Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption significantly affect stock market performance. Varying effects are produced when the countries are decomposed into income classifications. What is more, the findings and suggestions of this study suggest that quality of government significantly affect foreign direct investment and could have interesting policy implications. The main value of this paper is to examine the link between quality of governance and stock market performance within the context of international markets.
{"title":"The Link between Quality of Governance and Stock Market Performance: International Level Evidence","authors":"I. Boadi, Hayford Amegbe","doi":"10.17979/EJGE.2017.6.1.4324","DOIUrl":"https://doi.org/10.17979/EJGE.2017.6.1.4324","url":null,"abstract":"The present study investigates the link between quality of governance and stock market performance within the context of international markets. The study employed the Fixed Effect model using 23 countries with complete relevant data for the period spanning from 1996 to 2014. The study reveals that, quality of governance as captured by Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption significantly affect stock market performance. Varying effects are produced when the countries are decomposed into income classifications. What is more, the findings and suggestions of this study suggest that quality of government significantly affect foreign direct investment and could have interesting policy implications. The main value of this paper is to examine the link between quality of governance and stock market performance within the context of international markets.","PeriodicalId":37945,"journal":{"name":"European Journal of Government and Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41341920","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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