Pub Date : 2024-07-10DOI: 10.3390/economies12070182
Binghan Du, J. Juman, A. Makulova, A.V. Khamzayeva, Xuan Zhai
The oil and gas trade is one of the main ways to promote regional economic development by improving the effectiveness of resource allocation. While regional energy cooperation could lead to growth in the energy trade, blind investment will reduce effective yields. Kazakhstan and China maintain a stable oil and gas trade, but resource exports to China are not growing as expected. The aim of this research is to analyze the competitiveness and complementarity of Kazakhstan and China in the oil and gas trade, as well as the main factors affecting the oil and gas trade between Kazakhstan and China. By creating a linear regression equation to analyze the gravity model of the oil and gas trade between Kazakhstan and China, it was revealed that a 1% growth of the gross domestic product in both countries would lead to a 1.471% increase in the oil and gas trade. However, an increase in oil and gas production in Kazakhstan will not contribute to the expansion of the oil and gas trade with China. Kazakhstan and China could improve their oil and gas trade by strengthening financial cooperation, improving energy efficiency, increasing investment in infrastructure such as oil refineries and pipelines, and developing new oil and gas fields in Kazakhstan.
{"title":"Analysis of the Competitiveness, Complementarity, and Trade Combination of Kazakhstan and China in the Oil and Gas Trade","authors":"Binghan Du, J. Juman, A. Makulova, A.V. Khamzayeva, Xuan Zhai","doi":"10.3390/economies12070182","DOIUrl":"https://doi.org/10.3390/economies12070182","url":null,"abstract":"The oil and gas trade is one of the main ways to promote regional economic development by improving the effectiveness of resource allocation. While regional energy cooperation could lead to growth in the energy trade, blind investment will reduce effective yields. Kazakhstan and China maintain a stable oil and gas trade, but resource exports to China are not growing as expected. The aim of this research is to analyze the competitiveness and complementarity of Kazakhstan and China in the oil and gas trade, as well as the main factors affecting the oil and gas trade between Kazakhstan and China. By creating a linear regression equation to analyze the gravity model of the oil and gas trade between Kazakhstan and China, it was revealed that a 1% growth of the gross domestic product in both countries would lead to a 1.471% increase in the oil and gas trade. However, an increase in oil and gas production in Kazakhstan will not contribute to the expansion of the oil and gas trade with China. Kazakhstan and China could improve their oil and gas trade by strengthening financial cooperation, improving energy efficiency, increasing investment in infrastructure such as oil refineries and pipelines, and developing new oil and gas fields in Kazakhstan.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141661919","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 : 2024-07-09DOI: 10.3390/economies12070179
Leon Esquierro, Sergio Da Silva
This study extends the concept of granularity from firms to cities, examining how large cities influence national economic dynamics beyond their relative size. By applying Zipf’s law, which describes the power law distribution of city sizes, we investigate the interplay between granularity and business cycles. Our aim is to test the granular hypothesis that large cities have a significant impact on the business cycle beyond their relative size. We analyze data from American and Brazilian cities between 2003 and 2019 assessing the granular residuals and their explanatory power. Our findings reveal that in the United States, the granular city size is three metropolitan areas or five counties when redefined. In Brazil, it equates to three municipalities. These results emphasize the substantial role large cities play in national economic fluctuations, suggesting that policy interventions that target infrastructure, education, and innovation in major urban centers could have widespread economic benefits. This paper’s contribution to the literature is to highlight a spatial component of granularity not considered so far.
{"title":"Granular Cities","authors":"Leon Esquierro, Sergio Da Silva","doi":"10.3390/economies12070179","DOIUrl":"https://doi.org/10.3390/economies12070179","url":null,"abstract":"This study extends the concept of granularity from firms to cities, examining how large cities influence national economic dynamics beyond their relative size. By applying Zipf’s law, which describes the power law distribution of city sizes, we investigate the interplay between granularity and business cycles. Our aim is to test the granular hypothesis that large cities have a significant impact on the business cycle beyond their relative size. We analyze data from American and Brazilian cities between 2003 and 2019 assessing the granular residuals and their explanatory power. Our findings reveal that in the United States, the granular city size is three metropolitan areas or five counties when redefined. In Brazil, it equates to three municipalities. These results emphasize the substantial role large cities play in national economic fluctuations, suggesting that policy interventions that target infrastructure, education, and innovation in major urban centers could have widespread economic benefits. This paper’s contribution to the literature is to highlight a spatial component of granularity not considered so far.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572728","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 reasonable to state that gastronomic tourism is an efficient tool that has the potential to refresh Thailand’s macroeconomic viability. With the aim of becoming a hub of tourism in Southeast Asia, Thailand’s tourism industry must urgently address and sustainably integrate gastronomic activities to navigate the troubled situation caused by its decline after the COVID-19 pandemic. This has led the authors to conduct a deep study on a regional input–output (I-O) table analysis for Thailand’s tourism system, specifically focusing on gastronomic activities and tourism industries. The tourism I-O data used in this study come from the official source provided by the Thailand Ministry of Tourism and Sport. Empirically, the results of the dynamic regional I-O model predict that Bangkok and its surrounding areas are the heart of gastronomic tourism development, driving income into Thailand’s economy. The eastern region stands as the second-largest area of gastronomy tourism, generating a positive impact on Thailand’s economy. On the other hand, the Northeast of Thailand receives less income from gastronomy tourism despite being the largest area in the country. Ultimately, there should be a greater emphasis on gastronomy tourism policies in order to fully maximize their potential for tourism development, stimulating every part of Thailand during the economic depression caused by COVID-19. Moreover, gastronomy tourism has the potential to play an important role in driving economic growth through the combination of cuisine and tourism development.
{"title":"The Impact of Gastronomic Tourism on the Regional Economy of Thailand: Examined by the Dynamic I-O Model after the Decline of COVID-19","authors":"Banjaponn Thongkaw, Nattapan Kongbuamai, Warattaya Chinnakum, Chukiat Chaiboonsri","doi":"10.3390/economies12070180","DOIUrl":"https://doi.org/10.3390/economies12070180","url":null,"abstract":"It is reasonable to state that gastronomic tourism is an efficient tool that has the potential to refresh Thailand’s macroeconomic viability. With the aim of becoming a hub of tourism in Southeast Asia, Thailand’s tourism industry must urgently address and sustainably integrate gastronomic activities to navigate the troubled situation caused by its decline after the COVID-19 pandemic. This has led the authors to conduct a deep study on a regional input–output (I-O) table analysis for Thailand’s tourism system, specifically focusing on gastronomic activities and tourism industries. The tourism I-O data used in this study come from the official source provided by the Thailand Ministry of Tourism and Sport. Empirically, the results of the dynamic regional I-O model predict that Bangkok and its surrounding areas are the heart of gastronomic tourism development, driving income into Thailand’s economy. The eastern region stands as the second-largest area of gastronomy tourism, generating a positive impact on Thailand’s economy. On the other hand, the Northeast of Thailand receives less income from gastronomy tourism despite being the largest area in the country. Ultimately, there should be a greater emphasis on gastronomy tourism policies in order to fully maximize their potential for tourism development, stimulating every part of Thailand during the economic depression caused by COVID-19. Moreover, gastronomy tourism has the potential to play an important role in driving economic growth through the combination of cuisine and tourism development.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572725","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 : 2024-07-09DOI: 10.3390/economies12070181
Lina Maddah, Hassan Sherry, Hussein Zeaiter
According to the IMF, the current public debt makes up nearly 40 percent of the global debt, marking the highest share since the mid-1960s. Despite the vast research on alarming levels of sovereign default, the literature remains inconclusive. This paper investigates macroeconomic, financial, and political determinants of IMF credit use in the post-2010 era. The main contribution of our study lies in its temporal analysis as we investigate how the robustness of different factors has evolved. By utilizing an extensive dataset on 216 countries over the period of 2010–2021 and employing a variant of the Extreme Bounds Analysis (EBA) method, our study reveals that fluctuations in the IMF credit to external debt ratio can be attributed to changes in the total reserves to external debt ratio, where this relationship is statistically significant and reliable. However, high political risks seem to no longer affect the IMF’s decision, post 2010. Furthermore, our findings demonstrate that excluding countries with low debt arrears strengthens the results’ robustness. These findings contribute to a better understanding of the complexities surrounding IMF credit use in the contemporary global economic scene and offer new standpoints on the Fund’s lending choices.
{"title":"Economic and Political Determinants of Sovereign Default and IMF Credit Use: A Robustness Assessment Post 2010","authors":"Lina Maddah, Hassan Sherry, Hussein Zeaiter","doi":"10.3390/economies12070181","DOIUrl":"https://doi.org/10.3390/economies12070181","url":null,"abstract":"According to the IMF, the current public debt makes up nearly 40 percent of the global debt, marking the highest share since the mid-1960s. Despite the vast research on alarming levels of sovereign default, the literature remains inconclusive. This paper investigates macroeconomic, financial, and political determinants of IMF credit use in the post-2010 era. The main contribution of our study lies in its temporal analysis as we investigate how the robustness of different factors has evolved. By utilizing an extensive dataset on 216 countries over the period of 2010–2021 and employing a variant of the Extreme Bounds Analysis (EBA) method, our study reveals that fluctuations in the IMF credit to external debt ratio can be attributed to changes in the total reserves to external debt ratio, where this relationship is statistically significant and reliable. However, high political risks seem to no longer affect the IMF’s decision, post 2010. Furthermore, our findings demonstrate that excluding countries with low debt arrears strengthens the results’ robustness. These findings contribute to a better understanding of the complexities surrounding IMF credit use in the contemporary global economic scene and offer new standpoints on the Fund’s lending choices.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572726","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 purpose of this study is to evaluate the institutional and tax environment for businesses in 21 countries of the European Union (EU), using a multi-criteria analysis and, in particular, the PROMETHEE II method, based on thirteen evaluation criteria and the ranking of the European economies. Through the research, the importance of factors related to the efficiency of the tax administration, the tax capacity of the country, the growth rate of the economy, the quality of institutions, the level of corruption, the tax burden, the time of tax compliance and the political stability of the country is studied, in the formation of an attractive environment for the development of entrepreneurship in the EU economies. Moreover, the results of the analysis revealed the existence of significant fiscal and institutional differences between the EU economies under investigation, regarding the development of entrepreneurship. These differences are due to the size of the economy, the institutions, the history, the economic crises of each country and a wide range of dissimilar policy recommendations, which reflect asymmetric policy responses. The study concludes by offering theoretical and political recommendations to improve the institutional and fiscal environment in EU economies so that entrepreneurship can play an important role in improving the economic and social situation of a country.
本研究的目的是采用多重标准分析法,特别是 PROMETHEE II 方法,根据十三项评价标准和欧洲经济体排名,对欧洲联盟(欧盟)21 个国家的企业制度和税收环境进行评价。通过这项研究,研究了与税收征管效率、国家税收能力、经济增长率、机构质量、腐败程度、税收负担、纳税时间和国家政治稳定性有关的因素对欧盟经济体形成有吸引力的创业发展环境的重要性。此外,分析结果表明,被调查的欧盟经济体在创业发展方面存在着显著的财政和制度差异。造成这些差异的原因包括各国的经济规模、制度、历史、经济危机以及各种不同的政策建议,这反映了不对称的政策反应。研究最后提出了理论和政治建议,以改善欧盟经济体的制度和财政环境,从而使创业在改善国家经济和社会状况方面发挥重要作用。
{"title":"Multi-Criteria Evaluation of the Institutional and Tax Environment for Business in the EU Economies","authors":"Charalampos Kalligosfyris, Zacharias Dermatis, Eleni Kalamara, Athanasios Anastasiou","doi":"10.3390/economies12070178","DOIUrl":"https://doi.org/10.3390/economies12070178","url":null,"abstract":"The purpose of this study is to evaluate the institutional and tax environment for businesses in 21 countries of the European Union (EU), using a multi-criteria analysis and, in particular, the PROMETHEE II method, based on thirteen evaluation criteria and the ranking of the European economies. Through the research, the importance of factors related to the efficiency of the tax administration, the tax capacity of the country, the growth rate of the economy, the quality of institutions, the level of corruption, the tax burden, the time of tax compliance and the political stability of the country is studied, in the formation of an attractive environment for the development of entrepreneurship in the EU economies. Moreover, the results of the analysis revealed the existence of significant fiscal and institutional differences between the EU economies under investigation, regarding the development of entrepreneurship. These differences are due to the size of the economy, the institutions, the history, the economic crises of each country and a wide range of dissimilar policy recommendations, which reflect asymmetric policy responses. The study concludes by offering theoretical and political recommendations to improve the institutional and fiscal environment in EU economies so that entrepreneurship can play an important role in improving the economic and social situation of a country.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572724","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 livestock-dairy sector in Sub-Saharan Africa, particularly in Rwanda, is experiencing rapid growth due to population expansion, urbanisation, and changing food preferences. The unmet local production demands are causing soil and water pollution, competition for biomass, land, and water, but also grassland degradation, biodiversity loss, and increased GHGs emissions. Rwanda has the lowest productivity in the region, largely due to inadequate and poor-quality livestock feed resources. To increase animal productivity, promoting forage species with higher nutritional value and better adaptation to drought-prone and poor-fertility soils could be beneficial. Using a mixed-methods approach, the study explores Brachiaria forage adoption and profitability and analyses policy objectives and measures to overcome adoption barriers and promote the transition from subsistence to market-oriented systems. Results show that Brachiaria, although advantageous from an economic point of view, is characterised by very low adoption rates. Furthermore, access to extension programmes is limited and often not supported by adequate incentives. To overcome such barriers, policy interventions should be harmonised and information and knowledge management prioritised, public and private extension and advisory services (EASs) programmes coordinated, agricultural input subsidies increased, and institutional coordination promoted to enhance climate-smart animal feeding.
{"title":"‘Unlock the Complexity’: Understanding the Economic and Political Pathways Underlying the Transition to Climate-Smart Smallholder Forage-Livestock Systems: A Case Study in Rwanda","authors":"Chiara Perelli, Luca Cacchiarelli, Mutimura Mupenzi, Giacomo Branca, Alessandro Sorrentino","doi":"10.3390/economies12070177","DOIUrl":"https://doi.org/10.3390/economies12070177","url":null,"abstract":"The livestock-dairy sector in Sub-Saharan Africa, particularly in Rwanda, is experiencing rapid growth due to population expansion, urbanisation, and changing food preferences. The unmet local production demands are causing soil and water pollution, competition for biomass, land, and water, but also grassland degradation, biodiversity loss, and increased GHGs emissions. Rwanda has the lowest productivity in the region, largely due to inadequate and poor-quality livestock feed resources. To increase animal productivity, promoting forage species with higher nutritional value and better adaptation to drought-prone and poor-fertility soils could be beneficial. Using a mixed-methods approach, the study explores Brachiaria forage adoption and profitability and analyses policy objectives and measures to overcome adoption barriers and promote the transition from subsistence to market-oriented systems. Results show that Brachiaria, although advantageous from an economic point of view, is characterised by very low adoption rates. Furthermore, access to extension programmes is limited and often not supported by adequate incentives. To overcome such barriers, policy interventions should be harmonised and information and knowledge management prioritised, public and private extension and advisory services (EASs) programmes coordinated, agricultural input subsidies increased, and institutional coordination promoted to enhance climate-smart animal feeding.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572729","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 : 2024-07-08DOI: 10.3390/economies12070176
Glediana Zeneli (Foto), Arsen Benga, Altin Hoti
Trade is considered one of the main drivers of a country’s economic growth and development. Therefore, a successful analysis that identifies the bilateral trade flows, their determinants, and the regional integration costs and benefits opens new horizons for international trade perspectives. This study examines the effects of new and existing regional agreements on the international trade patterns of Western Balkan countries based on the Albanian case. In this regard, an extended trade gravity model is applied with a panel data set of trade flows between Albania and 43 of its regional strategic partners during the period of 2008 to 2022. This work considers two different similarity indexes to explain the effect of the economic structures of partner countries on their trade volumes: the relative factor endowment and the absolute factor endowment. The first is used to test the Linder Hypothesis, and the latter is used to test the effect of similarity in economic size between trading partners. Empirical results indicate that the effect of the selected explanatory variables, such as transportation costs, economic size, economic strength, exchange rate, and their relative as well as absolute endowment, is within expectations. Unexpectedly, the domestic economic size and strength are found to be insignificant in explaining the import flows and inversely proportional to the exports of Albania. Finally, it is indicated that trade flows are clearly dependent on traditional ties rather than on new incentives like the Open Balkan, which cannot offer a new regional center of gravity. To the best of our knowledge, this is the first time that the gravity of the Open Balkan initiative has been tested for one of the participating countries. The study concludes that while the Open Balkan initiative shows potential, the Berlin Process remains a more reliable path toward EU integration for Albania.
{"title":"Analysis of Albania’s Trade Direction: Is the Open Balkan a New Center of Gravity?","authors":"Glediana Zeneli (Foto), Arsen Benga, Altin Hoti","doi":"10.3390/economies12070176","DOIUrl":"https://doi.org/10.3390/economies12070176","url":null,"abstract":"Trade is considered one of the main drivers of a country’s economic growth and development. Therefore, a successful analysis that identifies the bilateral trade flows, their determinants, and the regional integration costs and benefits opens new horizons for international trade perspectives. This study examines the effects of new and existing regional agreements on the international trade patterns of Western Balkan countries based on the Albanian case. In this regard, an extended trade gravity model is applied with a panel data set of trade flows between Albania and 43 of its regional strategic partners during the period of 2008 to 2022. This work considers two different similarity indexes to explain the effect of the economic structures of partner countries on their trade volumes: the relative factor endowment and the absolute factor endowment. The first is used to test the Linder Hypothesis, and the latter is used to test the effect of similarity in economic size between trading partners. Empirical results indicate that the effect of the selected explanatory variables, such as transportation costs, economic size, economic strength, exchange rate, and their relative as well as absolute endowment, is within expectations. Unexpectedly, the domestic economic size and strength are found to be insignificant in explaining the import flows and inversely proportional to the exports of Albania. Finally, it is indicated that trade flows are clearly dependent on traditional ties rather than on new incentives like the Open Balkan, which cannot offer a new regional center of gravity. To the best of our knowledge, this is the first time that the gravity of the Open Balkan initiative has been tested for one of the participating countries. The study concludes that while the Open Balkan initiative shows potential, the Berlin Process remains a more reliable path toward EU integration for Albania.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572727","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 : 2024-07-05DOI: 10.3390/economies12070174
Badr El Azhari, Mohammed Bougroum, Lahcen Ait Daoud, Houmam Lotfi
In a context marked by growing inequalities and sustainable development challenges, Moroccan cooperatives represent an opportunity to reconcile economic objectives with social issues. Rooted in principles of solidarity and democratic participation, these entities play a significant role in promoting decent work in alignment with the Sustainable Development Goals (SDGs). The main objective of this study is to identify and analyze the determinants of decent work within Moroccan cooperatives in order to propose ways of improving working conditions and worker well-being. A survey of 394 Moroccan cooperatives and a data analysis using RCM regressions were used to assess the influence of employees’ socio-professional characteristics, the organizational specificities of cooperatives, and public action on decent work. The results indicate that factors such as youth, employee level of education, the gender of employees and managers, financial performance, and the quality of cooperative governance are decisive factors in the quality of decent work. Public action, in particular government support combining financial and technical measures, is identified to have a positive impact on working conditions. This research highlights the importance for public policy of supporting education and vocational training, promoting gender equality, improving cooperative management, and effectively structuring government support to maximize its positive impact on decent work. These findings offer concrete avenues for policymakers and cooperative managers to improve worker well-being and contribute to the SDGs. By addressing the challenges identified and implementing targeted strategies, it is possible to move toward more inclusive economic growth and decent work for all within the Moroccan context.
{"title":"The Determinants of Decent Work in Moroccan Cooperatives and Implications for Public Action: Toward Public Action through Determinants","authors":"Badr El Azhari, Mohammed Bougroum, Lahcen Ait Daoud, Houmam Lotfi","doi":"10.3390/economies12070174","DOIUrl":"https://doi.org/10.3390/economies12070174","url":null,"abstract":"In a context marked by growing inequalities and sustainable development challenges, Moroccan cooperatives represent an opportunity to reconcile economic objectives with social issues. Rooted in principles of solidarity and democratic participation, these entities play a significant role in promoting decent work in alignment with the Sustainable Development Goals (SDGs). The main objective of this study is to identify and analyze the determinants of decent work within Moroccan cooperatives in order to propose ways of improving working conditions and worker well-being. A survey of 394 Moroccan cooperatives and a data analysis using RCM regressions were used to assess the influence of employees’ socio-professional characteristics, the organizational specificities of cooperatives, and public action on decent work. The results indicate that factors such as youth, employee level of education, the gender of employees and managers, financial performance, and the quality of cooperative governance are decisive factors in the quality of decent work. Public action, in particular government support combining financial and technical measures, is identified to have a positive impact on working conditions. This research highlights the importance for public policy of supporting education and vocational training, promoting gender equality, improving cooperative management, and effectively structuring government support to maximize its positive impact on decent work. These findings offer concrete avenues for policymakers and cooperative managers to improve worker well-being and contribute to the SDGs. By addressing the challenges identified and implementing targeted strategies, it is possible to move toward more inclusive economic growth and decent work for all within the Moroccan context.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141550653","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 : 2024-07-05DOI: 10.3390/economies12070175
Juan Infante, Marta del Rio, Luis Alberiko Gil-Alana
This paper investigates the relationships of the Bloomberg Gender Equality Index and the MSCI World Index in global financial markets. The main objective is to analyze the degree of integration of each index from a fractional perspective for the years 2014–2021. The methodology involves fractional integration to assess the consistency and integration levels of both indices, revealing that they are remarkably consistent with integration orders close to 1 and no evidence of mean-reverting behavior. When examining potential cointegrating relationships between the two indices using the classical two-step method of Engle and Granger, the order of integration of the estimated errors is very close to 1, showing no evidence of cointegration. However, employing the more robust fractional CVAR (FCVAR) approach, the results strongly support the hypothesis of cointegration, indicating evidence of long-term co-movements between the two indices. The findings suggest that investment strategies should incorporate gender diversity criteria, as companies aligning with these benchmarks may enhance co-movements with the Bloomberg Gender Equality Index. Policymakers should promote transparency and initiatives that support gender diversity to improve market stability.
{"title":"Persistent and Long-Term Co-Movements between Gender Equality and Global Prices","authors":"Juan Infante, Marta del Rio, Luis Alberiko Gil-Alana","doi":"10.3390/economies12070175","DOIUrl":"https://doi.org/10.3390/economies12070175","url":null,"abstract":"This paper investigates the relationships of the Bloomberg Gender Equality Index and the MSCI World Index in global financial markets. The main objective is to analyze the degree of integration of each index from a fractional perspective for the years 2014–2021. The methodology involves fractional integration to assess the consistency and integration levels of both indices, revealing that they are remarkably consistent with integration orders close to 1 and no evidence of mean-reverting behavior. When examining potential cointegrating relationships between the two indices using the classical two-step method of Engle and Granger, the order of integration of the estimated errors is very close to 1, showing no evidence of cointegration. However, employing the more robust fractional CVAR (FCVAR) approach, the results strongly support the hypothesis of cointegration, indicating evidence of long-term co-movements between the two indices. The findings suggest that investment strategies should incorporate gender diversity criteria, as companies aligning with these benchmarks may enhance co-movements with the Bloomberg Gender Equality Index. Policymakers should promote transparency and initiatives that support gender diversity to improve market stability.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141552952","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 : 2024-07-04DOI: 10.3390/economies12070172
Aamir Khan, David Kalisz
This study investigates the firms’ performance following cross-border mergers and acquisitions (M&As) from 2000 to 2022, employing the generalized method of moments (GMM) technique within the French context. Grounded in the theories of organizational learning and the institutional-based view, the empirical findings reveal that acquiring firms exhibit an improved long-term performance after engaging in cross-border M&A deals. Additionally, acquisition experience and industry relatedness significantly enhance the firms’ performance. Institutional quality and cultural similarity are also found to positively moderate the impact of cross-border M&As on firms’ performance.
{"title":"Post-Acquisition Operating Performance of Acquiring Firms following Cross-Border Mergers and Acquisitions","authors":"Aamir Khan, David Kalisz","doi":"10.3390/economies12070172","DOIUrl":"https://doi.org/10.3390/economies12070172","url":null,"abstract":"This study investigates the firms’ performance following cross-border mergers and acquisitions (M&As) from 2000 to 2022, employing the generalized method of moments (GMM) technique within the French context. Grounded in the theories of organizational learning and the institutional-based view, the empirical findings reveal that acquiring firms exhibit an improved long-term performance after engaging in cross-border M&A deals. Additionally, acquisition experience and industry relatedness significantly enhance the firms’ performance. Institutional quality and cultural similarity are also found to positively moderate the impact of cross-border M&As on firms’ performance.","PeriodicalId":52214,"journal":{"name":"Economies","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141550655","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}