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Empirical examination of public debt sustainability in African economies: A panel data analysis 非洲经济体公共债务可持续性的实证研究:面板数据分析
IF 2.6 Q1 Social Sciences Pub Date : 2023-11-02 DOI: 10.1002/pa.2896
Syed Sadaqat Ali Shah, Rabia Rafique, Muhammad Asim Afridi

This study intends to investigate public debt sustainability across 29 Sub-Sahara African (SSA) economies, employing various econometric specifications, for the sampled years 1996–2020. The study employs Bohn's (Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint? Journal of monetary Economics, 54(7), pp.1837–1847.) framework of sustainability as the baseline model to assess public debt sustainability across the sampled Sub-Sahara African economies. As additional tests of public debt sustainability in order to support the baseline findings, the study also employs panel unit root and timeseries unit tests. The baseline findings from the OLS, panel quantile and instrumental panel quantile regressions show that public debt is sustainable across the panel of SSA economies. The positive and statistically significant response of primary balance under the Bohn's framework of sustainability manifest that the intertemporal budget constraint is not violated in the sampled economies. The consistency in the estimates under the OLS, panel quantile and instrumental panel quantile regressions also show that the estimates are robust throughout the estimation process. Also, utilizing the panel unit root test for public debt sustainability, the findings show that public debt is stationary over the sampled years which implies that intertemporal budget constraint holds and that public debt is sustainable across the sampled SSA economies. However, the timeseries analysis indicate that although majority of the SSA economies have sustainable public debt ratios, four countries namely Uganda, Sudan, Togo and Cote d'Ivoire have unsustainable public debt ratios. The study has important policy implications in terms of prudent public debt management and fiscal management for the sampled SSA economies.

本研究旨在采用各种计量经济学规格,调查 1996-2020 年抽样年份中 29 个撒哈拉以南非洲(SSA)经济体的公共债务可持续性。研究采用了 Bohn 的(跨期预算约束是否真的需要静态和协整限制?货币经济学杂志》,54(7),第 1837-1847 页)的可持续性框架作为基线模型,以评估撒哈拉以南非洲各抽样经济体的公共债务可持续性。为了支持基线结论,本研究还采用了面板单位根检验和时间序列单位检验,作为对公共债务可持续性的额外检验。从 OLS、面板量值回归和工具面板量值回归得出的基线结论表明,撒哈拉以南非洲经济体的公共债务具有可持续性。在 Bohn 的可持续性框架下,基本收支平衡的正向响应在统计上具有重要意义,这表明在抽样经济体中并没有违反跨期预算约束。在 OLS、面板量化和工具面板量化回归下的估计值的一致性也表明,在整个估计过程中估计值是稳健的。此外,利用公共债务可持续性的面板单位根检验,结果表明公共债务在抽样年份是静态的,这意味着跨期预算约束成立,公共债务在抽样的 SSA 经济体中是可持续的。然而,时序分析表明,尽管大多数撒南非洲经济体的公共债务比率是可持续的,但乌干达、苏丹、多哥和科特迪瓦这四个国家的公共债务比率是不可持续的。这项研究对抽样的撒南非洲经济体进行审慎的公共债务管理和财政管理具有重要的政策影响。
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引用次数: 0
An analysis of asymmetric effect of federal transfers across Indian states 印度各邦联邦转移支付非对称效应分析
IF 2.6 Q1 Social Sciences Pub Date : 2023-10-11 DOI: 10.1002/pa.2893
A. M. Suha, Anoop S. Kumar, P. S. Renjith

This study empirically examines the asymmetric effect of federal transfers in India using a panel dataset of 18 states from 2000–2001 to 2019–2020. In mapping the asymmetric effect of federal transfers on subnational spending across the Indian states, we test it in the extended ‘flypaper effect’ framework, examining whether subnational expenditures respond in the same way to changes in federal transfers. To quantify the extent of the asymmetric effect on the subnational expenditure, we employed the panel non-linear ARDL model. The results suggest that subnational spending has a greater asymmetric response to the increase in federal transfers than to a decrease. At the disaggregate level, ten out of 18 states have a fiscal replacement kind of asymmetric effect in any spending specifications. But only three validate it in the capital and development spending, and seven states validating in the non-development expenditure on the revenue accounts. Replacing the cut in federal transfers with other revenue sources that prioritise non-development spending over development spending is problematic.

本研究使用 2000-2001 年至 2019-2020 年 18 个邦的面板数据集,实证检验了印度联邦转移支付的非对称效应。在绘制联邦转移支付对印度各邦国家以下各级支出的非对称效应图时,我们在扩展的 "飞纸片效应 "框架内对其进行了检验,考察国家以下各级支出是否以相同的方式对联邦转移支付的变化做出反应。为了量化非对称效应对国家以下各级支出的影响程度,我们采用了面板非线性 ARDL 模型。结果表明,与联邦转移支付的减少相比,国家以下各级支出对联邦转移支付增加的非对称反应更大。在分类层面,18 个州中有 10 个州在任何支出规格中都存在财政替代的非对称效应。但只有 3 个州在资本和发展支出中得到验证,7 个州在收入账户的非发展支出中得到验证。用其他将非发展支出置于发展支出之上的收入来源来替代联邦转移支付的削减是有问题的。
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引用次数: 0
Effect of productive capacities on tax revenue mobilization: Evidence from Sub-Saharan African countries 生产能力对税收动员的影响:撒哈拉以南非洲国家的证据
IF 2.6 Q1 Social Sciences Pub Date : 2023-10-05 DOI: 10.1002/pa.2895
Abdou-Fataou Tchagnao

This paper analyzes the effects of productive capacities on tax revenue mobilization in 37 Sub-Saharan African countries. Using the Generalized Method of Moment (GMM) approach, the results show that productive capacities measured by the aggregate Productive Capacity Index (PCI) and its eight components, namely human and natural capital, energy, transport, Information and communication technologies, private sector, institutions and structural change positively and significantly affect total tax revenue mobilization. For example, an increase in one point of the PCI corresponds to an increase in total tax revenues by 0.0016 point. The effect of productive capacities also remains positive and significant on tax revenues, even when disaggregated into direct and indirect taxes. This paper contributes empirically to highlighting the importance of productive capacity in tax revenue mobilization. Hence, strengthening productive capacities is important to enhance tax revenue mobilization in Sub-Saharan African countries. To meet the current challenges of mobilizing the fiscal resources needed to meet international agendas, Sub-Saharan African countries must not only work to strengthen overall productive capacity, but also promote the quality of institutions, transport and energy, invest in human capital, create the conditions for real structural transformation, promote good digital governance and a more dynamic private sector.

本文分析了 37 个撒哈拉以南非洲国家的生产能力对税收动员的影响。利用广义矩法(GMM)方法,结果表明,以综合生产能力指数(PCI)及其八个组成部分(即人力资本和自然资本、能源、交通、信息和通信技术、私营部门、机构和结构变革)衡量的生产能力对总税收动员产生了积极而显著的影响。例如,PCI 增加一个点就相当于税收总额增加 0.0016 个点。即使按直接税和间接税分类,生产能力对税收的影响也仍然是积极和显著的。本文从实证角度强调了生产能力在税收动员中的重要性。因此,加强生产能力对于提高撒哈拉以南非洲国家的税收动员能力十分重要。为应对当前为满足国际议程而调动所需财政资源的挑战,撒哈拉以南非洲国家不仅要努力加强整体生产能力,还要提高机构、交通和能源的质量,投资于人力资本,为真正的结构转型创造条件,促进良好的数字治理和更具活力的私营部门。
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引用次数: 0
Covid-19 communication in emerging markets—Not viral enough? 新兴市场的 Covid-19 传播--病毒式传播还不够?
IF 2.6 Q1 Social Sciences Pub Date : 2023-09-29 DOI: 10.1002/pa.2894
Rama Papi Reddy Annapureddy, Saparya Suresh, Varsha Khandker

Public health communication acts as a social vaccine in case of pandemics. Prior research has identified that such initiatives often fail to reach vulnerable sections of society. In India, while the first wave of infections mainly hit the urban areas, rural areas witnessed a surge in the second wave. Using the World Bank data, we attempt to understand the effectiveness of public awareness campaigns in rural areas. We use the Ecological Model for public health and find how the various factors relate to public health outcomes. The ecological factors are found to be related to awareness of Covid-19. We find inadequate awareness about the symptoms and preventive measures associated with Covid-19 among the rural population. We also find significant differences in communication and awareness along dimensions such as education and access to media. The role played by SHGs and hospitals in dealing with pandemics is also evident in this study. We conclude that the disparity in public health communication needs to be bridged to ensure equitable access to health information in society during public health crises.

公共卫生传播在发生大流行病时起到了社会疫苗的作用。先前的研究发现,这些举措往往无法惠及社会中的弱势群体。在印度,第一波感染主要发生在城市地区,而在第二波感染中,农村地区的感染人数激增。利用世界银行的数据,我们试图了解农村地区公众宣传活动的有效性。我们使用公共卫生生态模型,发现各种因素与公共卫生结果之间的关系。我们发现生态因素与对 Covid-19 的认识有关。我们发现农村人口对 Covid-19 的相关症状和预防措施认识不足。我们还发现,在教育和接触媒体的机会等方面,人们在沟通和认识方面存在明显差异。在这项研究中,自助团体和医院在应对流行病方面发挥的作用也很明显。我们的结论是,公共卫生传播方面的差异需要弥合,以确保在公共卫生危机期间社会公平获取卫生信息。
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引用次数: 0
Intertemporal budget constraint and current account sustainability: Evidence from a large emerging economy 跨期预算约束与经常账户可持续性:一个大型新兴经济体的证据
IF 2.6 Q1 Social Sciences Pub Date : 2023-09-19 DOI: 10.1002/pa.2892
Manoranjan Sahoo, M. Suresh Babu, Umakant Dash

This paper examines the sustainability of the current account deficit (CAD) and validity of the intertemporal budget constraint of India for the period of 1980 to 2019. The cointegration results show that exports and imports are not cointegrated and the current account (CA) series is not mean reverting during the study period. Therefore, the results refute the sustainability of CAD and the validity of the intertemporal budget constraint in the Indian context. Furthermore, the study also emphasised the testing of the disaggregated CA and found that while the goods account is not sustainable, the services account found to be sustainable in the long run. Our findings thus indicate the potential for aggregation bias to have an impact on the overall CA sustainability results. Therefore, policies that help in achieving self-sufficiency on the one hand and export promotion in goods on the other may eventually contribute to CA sustainability.

本文研究了 1980 年至 2019 年期间印度经常账户赤字(CAD)的可持续性和跨期预算约束的有效性。协整结果表明,在研究期间,出口和进口不存在协整关系,经常账户(CA)序列也不存在均值回归。因此,研究结果否定了印度 CAD 的可持续性和跨期预算约束的有效性。此外,研究还强调了对分类 CA 的测试,发现虽然货物账户不可持续,但服务账户从长期来看是可持续的。因此,我们的研究结果表明,总量偏差可能会对总体 CA 可持续性结果产生影响。因此,一方面有助于实现自给自足,另一方面有助于促进货物出口的政策最终可能会有助于核算体系的可持续性。
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引用次数: 0
Does financial inclusion stimulate India's economy: A panel data analysis 普惠金融是否刺激了印度经济:面板数据分析
IF 2.6 Q1 Social Sciences Pub Date : 2023-09-07 DOI: 10.1002/pa.2891
Shantanu Ghosh, Tarak Nath Sahu, Girijasankar Mallik

The study empirically examines the connections between three different measures of financial inclusion with output growth across the states of India. Applying the panel co-integration and error correction model for 26 states and 4 union territories, it concludes that all three measures of financial development with gross fixed capital formation enhance real net state GDP significantly in the long run. Further, a significant reduction in the real net state GDP is also observed during the Global Financial Crisis. This study is important for the Indian policymakers to formulate effective financial inclusion policies leading to the overall development of the Indian economy.

该研究实证检验了三种不同的普惠金融指标与印度各邦产出增长之间的联系。通过对26个邦和4个联邦属地的面板协整和误差修正模型,该研究得出结论:从长期来看,具有固定资本形成总额的金融发展的所有三种指标都显著提高了实际净邦GDP。此外,在全球金融危机期间,也观察到实际净国家GDP的显著减少。本研究对印度决策者制定有效的普惠金融政策,促进印度经济的整体发展具有重要意义。
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引用次数: 0
Political brand experience and voting intention: Is there a relation? 政治品牌体验与投票意向:是否有关系?
IF 2.6 Q1 Social Sciences Pub Date : 2023-08-21 DOI: 10.1002/pa.2889
Saikat Banerjee

The current study reveals that Indian voters' political brand experiences positively influence their engagement and trust in a political party. Voters' addiction to political parties mediates the relationship between their party engagement and voting intentions. Thus, political marketers should increase voters' party brand addiction for proper conversion of party engagement in the ballot box. Although voters' political brand trust directly influences their voting intentions, interestingly, their political brand addictions indirectly influence the relationship between brand trust and voting intentions. The findings advocate that political marketers should ensure positive political party experiences to ensure voters' engagement with the party. Positive party experiences increase voters' trust in the party further. Another critical input for political marketers is the role of political brand addiction, which the study findings corroborate. Political brand addiction develops a set of loyal voters for a party and guarantees those voters' support for the party.

目前的研究表明,印度选民的政治品牌经历对他们对政党的参与和信任产生了积极的影响。选民对政党的依赖在政党参与与投票意向之间起中介作用。因此,政治营销人员应该增加选民对政党品牌的依赖,以适当地转化选民对政党的参与。虽然选民的政治品牌信任直接影响其投票意愿,但有趣的是,他们的政治品牌成瘾间接影响了品牌信任与投票意愿的关系。研究结果表明,政治营销人员应该确保积极的政党体验,以确保选民与政党的接触。积极的政党经历进一步增加了选民对政党的信任。政治营销人员的另一个关键投入是政治品牌成瘾的作用,研究结果证实了这一点。政治品牌成瘾会使一个政党产生一批忠诚的选民,并保证这些选民对这个政党的支持。
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引用次数: 0
Navigating collaborative governance in Florida: An analysis of local governments resilience amidst the COVID-19 pandemic 佛罗里达州的合作治理:对2019冠状病毒病疫情中地方政府韧性的分析
IF 2.6 Q1 Social Sciences Pub Date : 2023-08-21 DOI: 10.1002/pa.2890
Haris Alibašić, Mattia Casula

This study investigates the effectiveness of collaborative governance in the context of state and local government responses to the COVID-19 pandemic in Florida. Our analysis uncovers how local authorities have successfully adapted to implement policies to increase resilience and address the crisis, despite facing challenges, constraints, and limitations. Our findings underscore the significance of considering unique local characteristics when addressing pandemics and shed light on the potential influences of state-level actors on Home Rule. Notably, research examining the interplay between state decisions and Home Rule during a pandemic is scarce. We utilize Florida as a case study to examine local government responses to COVID-19, employing a qualitative analysis of data from webinars hosted by the Florida League of Cities and media reports on local government actions. To substantiate our findings and encourage further research, we apply the collaborative governance framework in the context of local government administrative responsibilities.

这项研究调查了佛罗里达州和地方政府应对新冠肺炎疫情时合作治理的有效性。我们的分析揭示了地方当局如何在面临挑战、制约和限制的情况下,成功地实施政策,以提高抵御能力并应对危机。我们的研究结果强调了在应对流行病时考虑当地独特特征的重要性,并揭示了州一级行为者对自治的潜在影响。值得注意的是,研究疫情期间国家决策与自治之间相互作用的研究很少。我们利用佛罗里达州作为案例研究,对佛罗里达城市联盟主办的网络研讨会的数据和媒体对地方政府行动的报道进行定性分析,研究地方政府对2019冠状病毒病的反应。为了证实我们的发现并鼓励进一步的研究,我们将合作治理框架应用于地方政府行政责任的背景下。
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引用次数: 0
Tools of digital innovation in public affairs management: A practice-oriented analysis 公共事务管理中的数字创新工具:面向实践的分析
IF 2.6 Q1 Social Sciences Pub Date : 2023-08-17 DOI: 10.1002/pa.2888
Alberto Bitonti

While the literature on digital transformation is growing in several fields, research on the effects of digital innovation in the practice of public affairs is still scattered and unsystematic, mostly focusing on interest groups' social media strategies. However, digital innovation has begun to change the practice of public affairs management in many areas, especially in the form of datafication, AI analytics, and cloud-based knowledge management platforms. Growing possibilities in the use of data science and evidence-informed strategic decision-making have arisen in domains traditionally shaped by intuitions and non-codified professional experience. Based on desk research of case studies and hands-on analyses of three increasingly popular public affairs management software platforms (FiscalNote, Quorum, KMIND), this article develops a practice-oriented analysis of various digital tools and functionalities available to public affairs practitioners today, tackling a gap in the literature on how digital innovation can impact the management of several activities along the different phases of a public affairs campaign (monitoring and analysis, strategy design, action, assessment). The article thus highlights how digital innovation goes way beyond the sheer use of social media in communication activities, impacting the practice of public affairs on a deeper and more strategic level.

尽管有关数字化转型的文献在多个领域不断增长,但对数字化创新在公共事务实践中的影响的研究仍然分散且不系统,大多集中在利益集团的社交媒体策略上。然而,数字创新已经开始改变许多领域的公共事务管理实践,特别是在数据化、人工智能分析和基于云的知识管理平台方面。在传统上由直觉和非编码专业经验形成的领域,数据科学和基于证据的战略决策的使用可能性越来越大。基于对三个日益流行的公共事务管理软件平台(FiscalNote、Quorum、KMIND)的案例研究和实践分析的案头研究,本文对当今公共事务从业者可用的各种数字工具和功能进行了面向实践的分析,填补文献中关于数字创新如何影响公共事务活动不同阶段(监测和分析、战略设计、行动、评估)的若干活动管理的空白。因此,这篇文章强调了数字创新如何超越社交媒体在传播活动中的纯粹使用,在更深层次、更具战略性的层面上影响公共事务的实践。
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引用次数: 0
Impact of entrepreneurial governance and ease of doing business on economic growth: Evidence from ECOWAS economies (2000–2019) 创业治理和经商便利性对经济增长的影响:来自西非经共体经济体的证据(2000-2009)
IF 2.6 Q1 Social Sciences Pub Date : 2023-07-31 DOI: 10.1002/pa.2887
Lukman Raimi, Hazwan Haini

We reignited the debate that developing countries still struggle to make the most of entrepreneurship due to institutional imbalances. The aim of this study is to empirically examine impact of entrepreneurial governance and ease of doing business on economic growth in a panel of 15 ECOWAS countries. The empirical evidence is based on secondary data from 2000 to 2019 estimated using the Pooled OLS Regression OLS estimator. Using institutional theory, we examined the chain of causality from institutions to entrepreneurship and from entrepreneurship to economic growth. Four findings emerged. Firstly, the regulatory pillar, represented by the indicators of ease of doing business (incorporation procedure, time required to set up a business, and cost of the business), is negatively and significantly related to economic growth. But the indicators of cost of doing business and start-up costs are more detrimental to business and economic growth. Secondly, the normative pillar represented by entrepreneurial governance indicators (government integrity and business freedom) is positively and significantly associated with growth. But the impact of government integrity on economic growth is greater than that of business freedom. Third, the interaction between regulatory and normative pillars is negative and significant. Finally, the cognitive pillar shows mixed results. For example, indicators of investment, trade openness, education, and financial development have positive and significant effects on economic growth, while government size, inflation, and population have negative and significant effects on economic growth. We discuss policy implications for stakeholders in ECOWAS economies.

我们再次引发了一场辩论,即由于体制失衡,发展中国家仍然难以充分利用创业精神。本研究旨在对西非经共体 15 个国家的创业治理和经商便利性对经济增长的影响进行实证研究。实证证据基于 2000 年至 2019 年的二手数据,使用集合 OLS 回归 OLS 估算器进行估算。利用制度理论,我们研究了从制度到创业以及从创业到经济增长的因果关系链。我们得出了四个结论。首先,监管支柱与经济增长呈显著负相关,监管支柱由经商便利度指标(公司注册程序、创办企业所需时间和企业成本)代表。但是,经营成本和创业成本指标对企业和经济增长的不利影响更大。其次,以创业治理指标(政府诚信和商业自由)为代表的规范性支柱与经济增长呈显著正相关。但政府诚信对经济增长的影响大于商业自由。第三,监管支柱与规范支柱之间的交互作用为负且显著。最后,认知支柱的结果好坏参半。例如,投资、贸易开放度、教育和金融发展指标对经济增长有积极而显著的影响,而政府规模、通货膨胀和人口对经济增长则有消极而显著的影响。我们讨论了对西非经共体经济体利益相关者的政策影响。
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引用次数: 0
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