Peer-reviewed academic journals and special issues are no easy match to make. Special occasions beget special issues, and such occasions are often fleeting moments compared to the lengthy process of peer-review. By the time (and if) articles worthy of publishing are submitted, evaluated, revised, edited, and finally approved, history may have moved on. As is often cited, U.S. scholarturned-statesman Henry Kissinger once suggested that “the analyst runs no risk [...] if his conclusions prove wrong, he can write another treatise”. However, time is not really on the side of the scholar. One’s conclusions and even the apropos for the quest for those conclusions may become outdated — and then the cycle of treatise-writing and review cannot simply begin anew. (...)
{"title":"Foreword to the special section on implications of the COVID pandemic","authors":"P. Marton","doi":"10.1556/204.2021.00017","DOIUrl":"https://doi.org/10.1556/204.2021.00017","url":null,"abstract":"Peer-reviewed academic journals and special issues are no easy match to make. Special occasions \u0000beget special issues, and such occasions are often fleeting moments compared to the lengthy \u0000process of peer-review. By the time (and if) articles worthy of publishing are submitted, evaluated, \u0000revised, edited, and finally approved, history may have moved on. As is often cited, U.S. scholarturned-statesman Henry Kissinger once suggested that “the analyst runs no risk [...] if his \u0000conclusions prove wrong, he can write another treatise”. However, time is not really on the side of \u0000the scholar. One’s conclusions and even the apropos for the quest for those conclusions may \u0000become outdated — and then the cycle of treatise-writing and review cannot simply begin anew. (...)","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73178114","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}
Islamic Finance receives more attention due to the growing need for financial services in countries with a Muslim population. However, the rules of Islam and its applications in daily life cause conflicts in today's conventional financial system. Since interest gains are prohibited in Islam according to the Quran, Islamic banks develop and use interest-free methods, unlike the conventional banking system. Islamic Finance introduced profit-sharing ratios to replace interest rates and to increase the participation of religious investors in the financial system. In this research, we compare interest rates with profit-sharing ratios in the Turkish banking market. We use wavelet and historical correlation analysis as a new methodology in evaluating the association between these two factors. Although it is presumed that Islamic banks operate as interest-free banks, our analysis confirms former studies and finds that profit-sharing ratios are highly correlated and coherent with interest rates in Turkey. We also find small differences among Islamic banks on how quickly profit-sharing ratios follow the market interest rate changes.
{"title":"Is Islamic Banking in Turkey really interest-free?","authors":"Harun Ercan, Ilhami Karahanoglu, G. Walter","doi":"10.1556/204.2021.00016","DOIUrl":"https://doi.org/10.1556/204.2021.00016","url":null,"abstract":"\u0000 Islamic Finance receives more attention due to the growing need for financial services in countries with a Muslim population. However, the rules of Islam and its applications in daily life cause conflicts in today's conventional financial system. Since interest gains are prohibited in Islam according to the Quran, Islamic banks develop and use interest-free methods, unlike the conventional banking system. Islamic Finance introduced profit-sharing ratios to replace interest rates and to increase the participation of religious investors in the financial system. In this research, we compare interest rates with profit-sharing ratios in the Turkish banking market. We use wavelet and historical correlation analysis as a new methodology in evaluating the association between these two factors. Although it is presumed that Islamic banks operate as interest-free banks, our analysis confirms former studies and finds that profit-sharing ratios are highly correlated and coherent with interest rates in Turkey. We also find small differences among Islamic banks on how quickly profit-sharing ratios follow the market interest rate changes.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72730776","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}
It is now becoming widely accepted that our economy has reached the limits both in terms of the carrying capacity of our planet and in terms of bringing real social justice to the table. Degrowth is a research area that aims to transcend mainstream approaches. While moving beyond the growth paradigm would entail serious changes in all areas of social life and Degrowth research extends into most of them, the transformation of sports is not among them. Neither is Degrowth a recognised concept among those who deal with sports. The participatory backcasting research introduced in this paper attempts to fill this void. In the backcasting project, master students of sports economics envisioned the sustainable future of sports and identified potential intervention steps that lead towards such normative states. This paper describes the results and assesses those elements that aim for strong sustainability. The results show that relocalisation and the sharing economy are the most accepted Degrowth concepts in a normative scenario on sustainable sports in this group. At the same time, the paper offers frameworks of thoughts for those who want to move beyond the slogans of sustainability either as responsible citizens or in positions related to the world of sports.
{"title":"The vision of sustainable sport in a backcasting research","authors":"Alexandra Köves, Attila Szathmári, Orsolya Herr","doi":"10.1556/204.2021.00009","DOIUrl":"https://doi.org/10.1556/204.2021.00009","url":null,"abstract":"It is now becoming widely accepted that our economy has reached the limits both in terms of the carrying capacity of our planet and in terms of bringing real social justice to the table. Degrowth is a research area that aims to transcend mainstream approaches. While moving beyond the growth paradigm would entail serious changes in all areas of social life and Degrowth research extends into most of them, the transformation of sports is not among them. Neither is Degrowth a recognised concept among those who deal with sports. The participatory backcasting research introduced in this paper attempts to fill this void. In the backcasting project, master students of sports economics envisioned the sustainable future of sports and identified potential intervention steps that lead towards such normative states. This paper describes the results and assesses those elements that aim for strong sustainability. The results show that relocalisation and the sharing economy are the most accepted Degrowth concepts in a normative scenario on sustainable sports in this group. At the same time, the paper offers frameworks of thoughts for those who want to move beyond the slogans of sustainability either as responsible citizens or in positions related to the world of sports.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81324408","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 : 2021-07-29DOI: 10.20472/IAC.2019.048.034
J. Lopes, J. Coelho, Vítor Escária
The main purpose of this paper is to study the functional distribution of income in Portugal in the long run, considering the period between 1953 and 2017. The labour share in income or value added depends on two fundamental variables, labour productivity and the average labour compensation. The trends of these variables are quantified for the aggregate economy and for its main productive sectors. An interesting result emerges, namely the different dynamics across sectors, both for the (unadjusted) wage share (considering only the wages of employees) and for the adjusted labour share (considering also as labour compensation one fraction of mixed income). Moreover, a shift-share analysis is used, in order to distinguish the importance of each sector's wage share evolution (“within” effect) and the changes in each sector's weight (structural changes, or “between” effect). Finally, a first attempt to incorporate the effect of wage inequality on the functional distribution of income is made, subtracting the labour compensation of the highest paid workers (top 10%, 5% and 1%) in order to calculate the wage share of the (so-called) "typical" workers.
{"title":"Labour productivity, wages and the functional distribution of income in Portugal: A sectoral approach","authors":"J. Lopes, J. Coelho, Vítor Escária","doi":"10.20472/IAC.2019.048.034","DOIUrl":"https://doi.org/10.20472/IAC.2019.048.034","url":null,"abstract":"The main purpose of this paper is to study the functional distribution of income in Portugal in the long run, considering the period between 1953 and 2017. The labour share in income or value added depends on two fundamental variables, labour productivity and the average labour compensation. The trends of these variables are quantified for the aggregate economy and for its main productive sectors. An interesting result emerges, namely the different dynamics across sectors, both for the (unadjusted) wage share (considering only the wages of employees) and for the adjusted labour share (considering also as labour compensation one fraction of mixed income). Moreover, a shift-share analysis is used, in order to distinguish the importance of each sector's wage share evolution (“within” effect) and the changes in each sector's weight (structural changes, or “between” effect). Finally, a first attempt to incorporate the effect of wage inequality on the functional distribution of income is made, subtracting the labour compensation of the highest paid workers (top 10%, 5% and 1%) in order to calculate the wage share of the (so-called) \"typical\" workers.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74881214","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}
The article discusses how and why Green Recovery could be beneficial for the Visegrad countries based on a modelling exercise using the E3ME macroeconometric model. Green Recovery is defined as including policies in recovery plans that not only target economic recovery, but also contribute to environmental targets. The paper proposes that a Green Recovery could be valuable and suitable for the region contributing to both restoring employment and boosting economic activity as well as reaching climate goals. This is tested through a macroeconomic simulation, using the E3ME model. E3ME is built on Post-Keynesian economic theory and on econometric estimations of macroeconomic relationships. The results of the analysis focus on three dimensions: (1) social – employment, (2) environmental – level of CO2 emissions and (3) economic activity – gross domestic product (GDP). Outcomes indicate that a green recovery can shorten the time needed for employment and economic recovery as well as contributes to CO2 emission reductions. In Hungary, Czechia and Poland, the impact persists into the long-term; however, the paper also concludes that countries with high reliance on coal (e.g. Poland) could return to coal in the long term if no further policies are introduced.
{"title":"Macroeconomic assessment of possible Green Recovery scenarios in Visegrad countries","authors":"Bence Kiss-Dobronyi, D. Fazekas, H. Pollitt","doi":"10.1556/204.2021.00014","DOIUrl":"https://doi.org/10.1556/204.2021.00014","url":null,"abstract":"\u0000 The article discusses how and why Green Recovery could be beneficial for the Visegrad countries based on a modelling exercise using the E3ME macroeconometric model. Green Recovery is defined as including policies in recovery plans that not only target economic recovery, but also contribute to environmental targets. The paper proposes that a Green Recovery could be valuable and suitable for the region contributing to both restoring employment and boosting economic activity as well as reaching climate goals. This is tested through a macroeconomic simulation, using the E3ME model. E3ME is built on Post-Keynesian economic theory and on econometric estimations of macroeconomic relationships. The results of the analysis focus on three dimensions: (1) social – employment, (2) environmental – level of CO2 emissions and (3) economic activity – gross domestic product (GDP). Outcomes indicate that a green recovery can shorten the time needed for employment and economic recovery as well as contributes to CO2 emission reductions. In Hungary, Czechia and Poland, the impact persists into the long-term; however, the paper also concludes that countries with high reliance on coal (e.g. Poland) could return to coal in the long term if no further policies are introduced.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77009040","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}
K. Lőrincz, Éva Kruppa-Jakab, Renáta Szabó, J. Csapó
In recent years, the city of Veszprém was able to obtain several significant achievements concerning its green branding: it was awarded the “Hungary in Bloom” and the “Climate Star” titles together with the “Gold” prize of the Entente Florale Europe award and the special “President’s Award for the Restoration of a Public Open Space”. This case study examines the impact and results of the preparation work and participation in national and an international green branding contests on destination marketing and city image through the analysis of the literature and structured interviews with the theme specialists of the contests. The implications of the research, based on the result of displaying the future vision of Veszprém, offer best practice advice for communities that are considering using green branding tools such as entering a horticultural contest. The results of the research confirm that a potential winning entry, apart from having an attractive cityscape, needs to meet the more novel assessment criteria of these contests as well, i.e. the development of family friendly and accessible infrastructure, multilingual tourist information and digital accessibility.
{"title":"Green branding as a tool and future potential for destination marketing: Implications from a case study in Veszprém, Hungary","authors":"K. Lőrincz, Éva Kruppa-Jakab, Renáta Szabó, J. Csapó","doi":"10.1556/204.2021.00010","DOIUrl":"https://doi.org/10.1556/204.2021.00010","url":null,"abstract":"\u0000 In recent years, the city of Veszprém was able to obtain several significant achievements concerning its green branding: it was awarded the “Hungary in Bloom” and the “Climate Star” titles together with the “Gold” prize of the Entente Florale Europe award and the special “President’s Award for the Restoration of a Public Open Space”. This case study examines the impact and results of the preparation work and participation in national and an international green branding contests on destination marketing and city image through the analysis of the literature and structured interviews with the theme specialists of the contests. The implications of the research, based on the result of displaying the future vision of Veszprém, offer best practice advice for communities that are considering using green branding tools such as entering a horticultural contest. The results of the research confirm that a potential winning entry, apart from having an attractive cityscape, needs to meet the more novel assessment criteria of these contests as well, i.e. the development of family friendly and accessible infrastructure, multilingual tourist information and digital accessibility.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82908453","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}
N. Chandler, B. Heidrich, K. Szászvári, Richárd Kása
In a higher education institution, perceptions and values are split due to the emergence of subcultures, and market orientation is split into competitive, customer (student) and interfunctional orientation. This study seeks to shed light on the concept of market orientation in this context through a comparison of perceptions and values of market orientation in subcultures in a higher education institution in Hungary and consider avenues for potential best practice. Through a mixed method approach, subcultures are identified and are found to exhibit a combination of overlapping and disparate market-oriented values and perceptions. Market orientation is found to be a continuum and affected by an array of latent variables, such as level of support (institutional and collegial), attitudes to performance appraisal and extent of external focus. Management must tailor the initial message of a market orientation strategy to the shared values at the organizational level, and then adjust the message and incentives to each subculture. In this way, management can create an atmosphere of cohesion, whilst addressing diversity in subcultures.
{"title":"Reframing market-orientation: A comparative study of the market orientation concept in the subcultures of university employees","authors":"N. Chandler, B. Heidrich, K. Szászvári, Richárd Kása","doi":"10.1556/204.2021.00011","DOIUrl":"https://doi.org/10.1556/204.2021.00011","url":null,"abstract":"\u0000 In a higher education institution, perceptions and values are split due to the emergence of subcultures, and market orientation is split into competitive, customer (student) and interfunctional orientation. This study seeks to shed light on the concept of market orientation in this context through a comparison of perceptions and values of market orientation in subcultures in a higher education institution in Hungary and consider avenues for potential best practice. Through a mixed method approach, subcultures are identified and are found to exhibit a combination of overlapping and disparate market-oriented values and perceptions. Market orientation is found to be a continuum and affected by an array of latent variables, such as level of support (institutional and collegial), attitudes to performance appraisal and extent of external focus. Management must tailor the initial message of a market orientation strategy to the shared values at the organizational level, and then adjust the message and incentives to each subculture. In this way, management can create an atmosphere of cohesion, whilst addressing diversity in subcultures.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80836059","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}
The paper presents a comprehensive overview of the public health system in the separatist Trasnistrian region of Moldova, an analytically unorthodox undertaking, as this entails looking at the health system of a fragile breakaway state-like entity, a set of circumstances that — rather inevitably, it seems — may define certain basic features of the health system at hand. Attention will be dedicated to outlining the main challenges the region's public health system faces, for instance, concerning the spread of infectious diseases such as tuberculosis, HIV/AIDS, and SARS-CoV-2. Studying the impact of the coronavirus pandemic can especially serve as a litmus test of the available capacities in Transnistria to deal with public health challenges: facing a novel pathogen, and the related disease and epidemic which threaten to overburden the local institutions. A key question examined here, through the example of Transnistria, is the degree to which international support to the region and the increasing cooperation with the internationally recognized state of Moldova are indispensable for public health security in the unrecognized state.
{"title":"Transnistria's public health system and SARS-CoV-2: The challenges of an unrecognized state facing a global pandemic","authors":"Cristian Vlas","doi":"10.1556/204.2021.00005","DOIUrl":"https://doi.org/10.1556/204.2021.00005","url":null,"abstract":"\u0000 The paper presents a comprehensive overview of the public health system in the separatist Trasnistrian region of Moldova, an analytically unorthodox undertaking, as this entails looking at the health system of a fragile breakaway state-like entity, a set of circumstances that — rather inevitably, it seems — may define certain basic features of the health system at hand. Attention will be dedicated to outlining the main challenges the region's public health system faces, for instance, concerning the spread of infectious diseases such as tuberculosis, HIV/AIDS, and SARS-CoV-2. Studying the impact of the coronavirus pandemic can especially serve as a litmus test of the available capacities in Transnistria to deal with public health challenges: facing a novel pathogen, and the related disease and epidemic which threaten to overburden the local institutions. A key question examined here, through the example of Transnistria, is the degree to which international support to the region and the increasing cooperation with the internationally recognized state of Moldova are indispensable for public health security in the unrecognized state.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73149483","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}
Crowdfunding is a disruptive innovation and has provoked interest as a new way of raising finance. The objective of our research was to analyse both the demand and supply sides of the crowdfunding ecosystem. The study used two methods. The first was a database analysis of 259,114 Kickstarter campaigns. The second was a survey on public awareness of crowdfunding in Hungary, from the perspective of 132 potential investors. The findings suggest several success factors that may be useful for campaign launchers: (1) appealing project presentation; (2) diverse pool of rewards; (3) realistic set of funding goals; (4) appropriate categories and sums of pledges; and (5) frequent communication and satisfactory information about the campaign. Furthermore, the study revealed the differences between the potential investors' expectations and the reality of crowdfunding practices.
{"title":"Demand and supply sides of the crowdfunding ecosystem: The case of Kickstarter campaigns and potential Hungarian investors","authors":"Roland Zs. Szabo, Réka Szász, Borbála Szedmák","doi":"10.1556/204.2021.00008","DOIUrl":"https://doi.org/10.1556/204.2021.00008","url":null,"abstract":"Crowdfunding is a disruptive innovation and has provoked interest as a new way of raising finance. The objective of our research was to analyse both the demand and supply sides of the crowdfunding ecosystem. The study used two methods. The first was a database analysis of 259,114 Kickstarter campaigns. The second was a survey on public awareness of crowdfunding in Hungary, from the perspective of 132 potential investors. The findings suggest several success factors that may be useful for campaign launchers: (1) appealing project presentation; (2) diverse pool of rewards; (3) realistic set of funding goals; (4) appropriate categories and sums of pledges; and (5) frequent communication and satisfactory information about the campaign. Furthermore, the study revealed the differences between the potential investors' expectations and the reality of crowdfunding practices.","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90789284","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}
{"title":"The Visegrád Countries and Brazil","authors":"Márton Baranyi","doi":"10.1556/204.2021.00006","DOIUrl":"https://doi.org/10.1556/204.2021.00006","url":null,"abstract":"","PeriodicalId":40049,"journal":{"name":"Society and Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74587281","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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