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History Re-Written: Misconceptions of U.S. Trade and Industrial Policy and the Influence of Neoliberalism 历史再书写:美国贸易和工业政策的误解与新自由主义的影响
IF 0.7 Q4 ECONOMICS Pub Date : 2021-03-01 DOI: 10.2478/revecp-2021-0001
T. Taylor, Amanda Montera
Abstract A disparity exists between mainstream perception and reality with regard to American economic history. There is widespread belief among the public, media, and even some scholars that the U.S. amassed its wealth and prosperity from the adoption of exclusively free-market principles from the onset of the union. This is far from reality. Since 1980, the U.S. government has adopted policies that largely support the free-market ideology and can be classified as neoliberal. However, As Chang (2002) and Cohen and DeLong (2016) have shown, during the early stages of economic development and critical junctures whilst a middle-income country, the U.S. record is one of active government intervention in targeted industries, the creation of important institutions to complement free-market competition, and the widespread use of trade protection in support of infant industries. This misconception has significant ramifications for present-day developing countries, which are routinely advised to adopt neoliberal policies with insufficient regard for the idiosyncratic stage of economic development. This paper documents the misconceptions by examining the theoretical basis and historical record of U.S. industrial and trade policy. We detail how this misconception became widespread and ultimately entered policymaking by analyzing two contributing factors: the rise of neoliberalism, and the standard economics curriculum.
摘要关于美国经济史,主流观念和现实之间存在着差距。公众、媒体甚至一些学者普遍认为,美国从联盟成立之初就通过采用完全自由市场的原则积累了财富和繁荣。这与现实相去甚远。自1980年以来,美国政府采取的政策在很大程度上支持自由市场意识形态,可以归类为新自由主义。然而,正如Chang(2002)、Cohen和DeLong(2016)所表明的那样,在经济发展的早期阶段和中等收入国家的关键时刻,美国的记录是政府积极干预目标行业,建立重要的机构来补充自由市场竞争,以及广泛使用贸易保护来支持新兴产业。这种误解对当今发展中国家产生了重大影响,这些国家通常被建议采取新自由主义政策,而没有充分考虑到经济发展的特殊阶段。本文通过考察美国工业和贸易政策的理论基础和历史记录,记录了这些误解。我们通过分析两个促成因素:新自由主义的兴起和标准经济学课程,详细说明了这种误解是如何广泛存在并最终进入决策的。
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引用次数: 0
Volume and Territorial Distribution of the Czech Republic’s Official Development Assistance Flows to Least Developed Countries 捷克共和国向最不发达国家提供的官方发展援助的数量和领土分布
IF 0.7 Q4 ECONOMICS Pub Date : 2021-03-01 DOI: 10.2478/revecp-2021-0005
E. Kovářová
Abstract Official Development Assistance (ODA) is considered one of the most important external resources of finance that can contribute to sustainable development in the Least Developed Countries (LDCs). The Czech Republic, as an official donor country, should spend on ODA, with respect to the EU and national targets, at least 0.33% of its GNI by the year 2030. Eradication of poverty in the context of sustainable development belongs to the long-term priorities of the Czech foreign development cooperation, and thus the Czech Republic considers some LDCs, which population is more likely to live in extreme poverty, the priority partner countries. Paper evaluated fundamental trends of the Czech Republic’s ODA flows to LDCs; compared them with the trends identified for the collective flows of all DAC members and for the flows of its four selected members (Hungary, Poland, Slovakia, Slovenia). Identified trends of Czech ODA flows showed clearly that Czech Republic did not meet official commitments regarding the volume of ODA and that level of fragmentation of the ODA flows to LCDs was quite high when these trends were examined during the period 2000–2018. However, the Czech Republic’s development cooperation policy did not differ markedly from the policies of the other four ODA donors. Any significant differences were identified when the fundamental trends of Czech ODA flows were compared with those ones identified for Hungary, Poland, Slovakia and Slovenia.
官方发展援助(ODA)被认为是最不发达国家(LDCs)可持续发展最重要的外部资金来源之一。捷克共和国作为一个官方捐助国,在欧盟和国家目标方面,到2030年,官方发展援助应至少占其国民总收入的0.33%。在可持续发展背景下消除贫困是捷克对外发展合作的长期优先事项,因此捷克将一些人口更容易陷入极端贫困的最不发达国家视为优先伙伴国。文件评价了捷克共和国向最不发达国家提供官方发展援助的基本趋势;将它们与所有发援会成员集体流动的趋势及其四个选定成员(匈牙利、波兰、斯洛伐克、斯洛文尼亚)的流动趋势进行比较。已确定的捷克官方发展援助流动趋势清楚地表明,捷克共和国没有履行官方对官方发展援助数量的承诺,在2000-2018年期间审查这些趋势时,官方发展援助流向最不发达国家的碎片化程度相当高。但是,捷克共和国的发展合作政策与其他四个官方发展援助捐助国的政策没有明显不同。当将捷克官方发展援助流动的基本趋势同匈牙利、波兰、斯洛伐克和斯洛文尼亚的基本趋势进行比较时,发现了任何重大差异。
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引用次数: 1
A Simple Measure to Study Multinational Income Inequality 跨国收入不平等研究的一个简单方法
IF 0.7 Q4 ECONOMICS Pub Date : 2021-03-01 DOI: 10.2478/revecp-2021-0002
Gharehgozli Orkideh, A. Vidya
Abstract Using the Big Mac Index, we offer a simple measure to study the real income inequality. We provide a multidimensional real income inequality analysis by exploring the Coefficient of Variation and the Big Mac Affordability of households across all income deciles of 28 countries for the years 2000 to 2013. We look more into a few of the most interesting countries in our analysis in order to have explanations for the wide range of income inequality we observe. We compare Denmark and Mexico as representatives of the “more equal” and “less equal” countries in our analysis, and we find a visible difference in the share of each decile to the top decile of income between the two countries. However, we observe that, although a more equal country, Denmark has been exp eriencing a rise in income inequality while a less equal country (Mexico) has been experiencing a reduction in income inequality. We also focus on the United States and study how it compares to Russia, a country that shows a different direction of income inequality compared to the U.S.A. We find that while the wage income inequality in Russia has been correlated inversely with its growth, in the U.S.A., the overall growth and wage income inequality have been positively correlated.
摘要使用巨无霸指数,我们提供了一个简单的衡量标准来研究实际收入不平等。我们通过探索2000年至2013年28个国家所有收入十分位数家庭的变异系数和巨无霸负担能力,提供了一个多维的实际收入不平等分析。在我们的分析中,我们更多地研究了几个最有趣的国家,以便对我们观察到的广泛的收入不平等做出解释。在我们的分析中,我们将丹麦和墨西哥作为“更平等”和“不太平等”国家的代表进行了比较,我们发现这两个国家在收入的前十分位数中所占的份额存在明显差异。然而,我们观察到,尽管丹麦是一个更加平等的国家,但其收入不平等现象一直在加剧,而一个不那么平等的国家(墨西哥)的收入不平等状况却在减少。我们还将重点放在美国,研究它与俄罗斯的比较。俄罗斯与美国相比,收入不平等的方向不同。我们发现,虽然俄罗斯的工资收入不平等与其增长呈负相关,但在美国,总体增长与工资收入不均呈正相关。
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引用次数: 1
Transport in times of an epidemic: public transport measures in the Czech Republic and its regions 疫情期间的交通:捷克共和国及其各地区的公共交通措施
IF 0.7 Q4 ECONOMICS Pub Date : 2021-03-01 DOI: 10.2478/revecp-2021-0004
Martin Vrána, Simona Surmařová, Petr Hlisnikovský, Jiří Dujka
Abstract In the first half of 2020, the global pandemic of the COVID-19 virus became a phenomenon affecting all spheres of human life. Measures against the spread of the virus have led to restrictions in life in public spaces and have also affected the transport sector. These impacts consisted of two types - firstly, the number of connections was reduced due to a drop in transport demand, and secondly, it was necessary to comply with hygiene measures on the part of carriers and passengers. The impacts of these measures could be monitored at all spatial levels, from global to local. This paper deals with the course of the so-called first wave of the pandemic in the Czech Republic in relation to public transport and its organization. The aim of the paper is to provide an overview of these measures in relation to general government regulations and their subsequent implementation at the national, regional (county) and local (selected large cities) level. Furthermore, the paper uses three case studies to show what changes long-distance domestic transport has undergone on selected routes. There was a significant reduction in the number of long-distance connections, some lines were not operated at all, and of course, all cross-border connections were canceled. The paper covers the period from the turn of February and March 2020, when the measures began to take effect, to the end of May 2020, when almost all the adopted measures were gradually relaxed. The paper concludes with a summary of the basic features of the organization of transport during the validity of the special measures, as well as areas where significant changes took place and whose consequences may persist after the pandemic subsides.
摘要2020年上半年,新冠肺炎病毒在全球范围内流行,成为影响人类生活各个领域的现象。遏制病毒传播的措施导致公共场所的生活受到限制,也影响了交通部门。这些影响包括两种类型——首先,由于运输需求下降,连接数量减少,其次,承运人和乘客必须遵守卫生措施。这些措施的影响可以在从全球到地方的所有空间层面进行监测。本文论述了捷克共和国所谓的第一波疫情与公共交通及其组织的关系。本文的目的是概述这些措施与一般政府法规及其随后在国家、地区(县)和地方(选定的大城市)层面的实施情况。此外,本文还通过三个案例研究来展示国内长途运输在选定路线上发生了什么变化。长途连接的数量大幅减少,一些线路根本没有运营,当然,所有跨境连接都被取消了。该文件涵盖了从2020年2月和3月初措施开始生效到2020年5月底几乎所有已采取的措施都逐渐放松的这段时间。论文最后总结了特别措施有效期内运输组织的基本特征,以及发生重大变化的领域,以及在疫情消退后其后果可能持续的领域。
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引用次数: 4
The Wagner’s law testing in the Visegrád Four countries 瓦格纳法在Visegrád四个国家的测试
IF 0.7 Q4 ECONOMICS Pub Date : 2020-12-01 DOI: 10.2478/revecp-2020-0020
Ž. Tesařová
Abstract This research paper analyses the relationship between gross domestic product and public expenditures in nominal terms. The analysis is being done by using the standard Peacock-Wiseman specification of the Wagner’s law and provides the results for the Visegrád Four countries, i.e. the Czech Republic, Slovakia, Poland and Hungary. We aim to answer a question concerning the existence of a long and/or short-term relationship between the nominal GDP and nominal public expenditures, which consist of current and capital expenditures. To address this question, we employ the VAR model, the Johansen Cointegration test and the VEC model. We study a period between the first quarter of 1999 and the second quarter of 2019 and find out mixed results for the Visegrád Four countries.
本文分析了国内生产总值与名义公共支出之间的关系。该分析是使用瓦格纳定律的标准Peacock Wiseman规范进行的,并为Visegrád四国(即捷克共和国、斯洛伐克、波兰和匈牙利)提供了结果。我们的目的是回答一个关于名义国内生产总值和名义公共支出之间存在长期和/或短期关系的问题,名义公共支出包括经常支出和资本支出。为了解决这个问题,我们采用了VAR模型、Johansen协整检验和VEC模型。我们研究了1999年第一季度至2019年第二季度的一段时间,发现维塞格拉德四国的结果喜忧参半。
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引用次数: 1
Economic policy and confidence of economic agents – a causal relationship? 经济政策与经济主体信心——因果关系?
IF 0.7 Q4 ECONOMICS Pub Date : 2020-12-01 DOI: 10.2478/revecp-2020-0023
Silvo Dajčman
Abstract The purpose of this paper is to study whether innovations in monetary and fiscal policy are a leading indicator of future business and consumer confidence and reverse applying the panel Granger causality analysis to two periods in the history of the euro area: before and after the start of the Great Recession. The results show that Granger causality interaction between the confidence of economic agents and the stance of monetary policy (measured by the shadow rate) is stronger than between the former and the fiscal policy instruments. The European Central Bank (ECB) shadow rate innovations Granger caused business and consumer confidence in both periods, but also indicators of confidence Granger caused the shadow rate. No such feedback could be established between two fiscal policy instruments (government expenditure and revenue growth) and the indicators of confidence. Government spending and revenues Granger caused business confidence in the first subperiod, but not in the second subperiod when the causality reversed. The government revenues Granger caused consumer confidence in the first subperiod, while government expenditures in the second subperiod. Consumer confidence Granger caused government spending in the first subperiod.
摘要本文的目的是研究货币和财政政策的创新是否是未来企业和消费者信心的先行指标,并将面板格兰杰因果分析反向应用于欧元区历史上的两个时期:大衰退开始之前和之后。结果表明,经济主体信心与货币政策立场(以影子利率衡量)之间的格兰杰因果交互作用强于经济主体信心与财政政策工具之间的格兰杰因果交互作用。欧洲央行(ECB)影子利率的创新格兰杰引起了企业和消费者两个时期的信心,同时格兰杰也引起了影子利率的信心指标。在两种财政政策工具(政府支出和收入增长)和信心指数之间无法建立这种反馈。政府支出和政府收入在第一子期对企业信心有格兰杰影响,但在第二子期对企业信心没有格兰杰影响。政府收入对第一子期消费者信心有格兰杰影响,而政府支出对第二子期消费者信心有格兰杰影响。消费者信心格兰杰导致第一阶段政府支出。
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引用次数: 1
Competitiveness in the European Consolidated Banking Sector After the 2008 Financial Crisis 2008年金融危机后欧洲综合银行业的竞争力
IF 0.7 Q4 ECONOMICS Pub Date : 2020-12-01 DOI: 10.2478/revecp-2020-0021
S. K. Klutse
Abstract The constitutional conception of market integration within the European Union entails creating a level playing field for competition in the consolidated banking sector. The financial crisis of 2008 brought with it the need to proceed with care as it rolled back the gains of improving competitive conditions in the financial sector. Even though a lot of studies have investigated competitive conditions prior to the crisis, the same cannot be said of periods after the crisis. Using both structural and non-structural measures of competitive conditions, this study found that the consolidated banking sector in Europe shows signs of a monopolistic competitive market structure based on its revenue and cost measures. As five countries – United Kingdom, France, Germany, Spain, Italy – control about 70 per cent of total assets in the consolidated banking sector. The capital expense to fixed assets and total assets in the Europe area were found to be negatively related to measures of profitability in the sector. They were indicating that the accumulation of assets eats into the incomes of banks in the sub-region, whereas bank exposures may be affecting bank profits.
摘要欧盟内部市场一体化的宪法概念要求在合并的银行业中创造一个公平的竞争环境。2008年的金融危机带来了谨慎行事的必要性,因为它使改善金融部门竞争条件的成果倒退。尽管许多研究调查了危机前的竞争状况,但危机后的时期却并非如此。利用竞争条件的结构性和非结构性指标,本研究发现,根据收入和成本指标,欧洲合并银行业显示出垄断竞争市场结构的迹象。英国、法国、德国、西班牙、意大利五个国家控制着合并银行业约70%的总资产。欧洲地区固定资产和总资产的资本支出与该行业的盈利能力指标呈负相关。他们表示,资产积累会侵蚀该次区域银行的收入,而银行风险敞口可能会影响银行利润。
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引用次数: 1
University Students’ Preferences about Savings and Investments at Individual and National level in the 21st Century: The Case of Turkey 21世纪大学生个人和国家层面的储蓄和投资偏好——以土耳其为例
IF 0.7 Q4 ECONOMICS Pub Date : 2020-12-01 DOI: 10.2478/revecp-2020-0024
Aynur Yumurtaci, Bilal Bağış
Abstract This paper aims to capture the favored both national and individual saving and investment perceptions of the Turkish youth. Also, the research contributes to the understanding of the common preferences of the youth and focuses on perceptions over their home country’s saving-investment decisions. We reason, it is important to evaluate views of the youth on national savings and investments as they will be both the decision-makers determining the economic and social policies of the near future and the ones that are directly impacted by these policies implemented today. For this purpose, a questionnaire is applied to randomly selected 550 university students in Turkey and the results are analyzed by the chi-square test. Accordingly, students have mostly preferred that investments should be primarily made to the education sector at national level while investment made for the social security system is placed on the last rank. In addition, education is the most important individual investment choice of participants. On the other hand, information technologies, energy, and agriculture are identified as the most significant investment areas, which could be potentially increased the global competitiveness of their home country. Another important outcome of this research is that students prefer to invest their individual savings in gold and real estate investments, respectively.
摘要本文旨在捕捉土耳其青年青睐的国家和个人储蓄和投资观念。此外,该研究有助于了解年轻人的共同偏好,并关注他们对本国储蓄-投资决策的看法。我们认为,评估年轻人对国民储蓄和投资的看法很重要,因为他们既是决定不久的将来经济和社会政策的决策者,也是今天实施的这些政策直接影响的决策者。为此,随机抽取土耳其550名大学生进行问卷调查,采用卡方检验对调查结果进行分析。因此,学生们大多认为,应首先在国家层面对教育部门进行投资,而对社会保障体系的投资则排在最后。此外,教育是参与者最重要的个人投资选择。另一方面,信息技术、能源和农业被确定为最重要的投资领域,这可能会提高其本国的全球竞争力。本研究的另一个重要结果是,学生更倾向于将个人储蓄分别投资于黄金和房地产投资。
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引用次数: 0
Analyzing the Role of Government Efficiency on Financial Development for OECD Countries 政府效率对经合组织国家金融发展的作用分析
IF 0.7 Q4 ECONOMICS Pub Date : 2020-12-01 DOI: 10.2478/revecp-2020-0022
Aysel Amir, K. Gokmenoglu
Abstract This paper fulfills a gap in the existing literature by analyzing the impact of government efficiency and corruption on the financial development of 31 OECD countries for the period 2002 to 2015 inclusively. To ensure robustness in our estimations, we employed several econometrics techniques, included control variables in our models, used several proxies for the variables under investigation, split the data into subgroups based on the degree of democracy, and repeated the analysis for these groups. Obtained findings provide strong evidence that government efficiency has a significant effect on financial development, and the sign of all the control variables are compatible with the a-priory theoretical expectations. The results of this study propose several policy recommendations to enhance financial development such as enhancing social cohesion through education on the use of tax contributions, revising budget procedures to ensure efficient spending of resources and to improve institutional quality, and reducing corruptive pursuits by targeting the informal economy activities and modifying the rule of law.
摘要本文通过分析政府效率和腐败对31个经合组织国家2002年至2015年期间金融发展的影响,填补了现有文献的空白。为了确保我们的估计的稳健性,我们采用了几种计量经济学技术,在我们的模型中包括控制变量,对所调查的变量使用了几种代理,根据民主程度将数据分成子组,并对这些组重复分析。所得结果有力地证明了政府效率对金融发展具有显著的影响,并且所有控制变量的符号都符合先验的理论预期。本研究的结果提出了几项政策建议,以促进金融发展,如通过使用税收的教育来增强社会凝聚力,修改预算程序以确保资源的有效使用并提高制度质量,以及通过针对非正规经济活动和修改法治来减少腐败行为。
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引用次数: 3
A Book Review on The Narrow Corridor: States, Societies, and the Fate of Liberty by Daron Acemoğlu and James A. Robinson 《狭窄的走廊:国家、社会和自由的命运》书评,作者:达隆Acemoğlu和詹姆斯·A·罗宾逊
IF 0.7 Q4 ECONOMICS Pub Date : 2020-09-01 DOI: 10.2478/revecp-2020-0019
Sedat Alataş
© 2020 by the authors; licensee Review of Economic Perspectives / Národohospodářský obzor, Masaryk University, Faculty of Economics and Administration, Brno, Czech Republic. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution 3.0 license, Attribution – Non Commercial – No Derivatives. A Book Review on The Narrow Corridor: States, Societies, and the Fate of Liberty by Daron Acemoğlu and James A. Robinson 1
©2020作者;持牌人经济前景审查/Národohospodářskýobzor,Masaryk大学,经济与行政学院,捷克共和国布尔诺。本文是一篇开放获取的文章,根据知识共享署名3.0许可证“署名-非商业-无衍生品”的条款和条件分发。Daron Acemoğlu和James A.Robinson的《狭窄的走廊:国家、社会和自由的命运》书评1
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引用次数: 0
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Review of Economic Perspectives
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