This is the thirteenth project that follows the footsteps of twelve studies that have tried to analyze the competitive profiles of U.S. consumer markets: Men’s Shaving Cream, Beer, Shampoo, Shredded/Grated Cheese, Refrigerated Orange Juice, Men’s Razor-Blades, Women’s Razor-Blades, Toothpaste, Canned Soup, Coffee, Potato Chips, and Alkaline AA Batteries.Michael Porter associates high market share with cost leadership strategy, which is based on the idea of competing on a price that is lower than that of the competition.However, customer-perceived quality—not low cost—should be the underpinning of competitive strategy, because it is far more vital to long-term competitive position and profitability than any other factor. So, a superior alternative is to offer better quality vs. the competition.In most consumer markets, a business seeking market share leadership should try to serve the middle class by competing in the mid-price segment; and offering quality better than that of the competition: at a price somewhat higher to signify an image of quality, and to ensure that the strategy is both profitable and sustainable in the long run. Quality, however, is a complex concept, consumers generally find difficult to understand. So, they often use relative price, and a brand’s reputation, as a symbol of quality.For 2008 the U.S. Facial Tissue market had sales of $1035 million.Using Hierarchical Cluster Analysis, we tested two hypotheses: (I) That the market leader is likely to compete in the mid-price segment, and that (II) Its unit price is likely to be higher than that of the nearest competition.For both 2008 and 2007 the results supported Hypothesis I. The market leader Kleenex was a member of the mid-price segment, as hypothesized.However, the results did not support Hypothesis II for both 2008 and 2007, because the runner-up, Puffs was a member of the premium segment with a higher price tag to match.We found that relative price was a strategic variable, as hypothesized.A pattern is emerging in price-quality segmentation analysis. In ten of the thirteen studies—that exclude Men’s and Women’s Razor-Blades, and Ground Coffee—the market leader was found to be a member of the mid-price segment, as we have hypothesized.Moreover, results in seven markets supported Hypothesis II.We also discovered three strategic groups in the industry.
{"title":"The U.S. Facial Tissue Market: A Competitive Profile","authors":"Y. Datta","doi":"10.22158/jepf.v9n3p92","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p92","url":null,"abstract":"This is the thirteenth project that follows the footsteps of twelve studies that have tried to analyze the competitive profiles of U.S. consumer markets: Men’s Shaving Cream, Beer, Shampoo, Shredded/Grated Cheese, Refrigerated Orange Juice, Men’s Razor-Blades, Women’s Razor-Blades, Toothpaste, Canned Soup, Coffee, Potato Chips, and Alkaline AA Batteries.Michael Porter associates high market share with cost leadership strategy, which is based on the idea of competing on a price that is lower than that of the competition.However, customer-perceived quality—not low cost—should be the underpinning of competitive strategy, because it is far more vital to long-term competitive position and profitability than any other factor. So, a superior alternative is to offer better quality vs. the competition.In most consumer markets, a business seeking market share leadership should try to serve the middle class by competing in the mid-price segment; and offering quality better than that of the competition: at a price somewhat higher to signify an image of quality, and to ensure that the strategy is both profitable and sustainable in the long run. Quality, however, is a complex concept, consumers generally find difficult to understand. So, they often use relative price, and a brand’s reputation, as a symbol of quality.For 2008 the U.S. Facial Tissue market had sales of $1035 million.Using Hierarchical Cluster Analysis, we tested two hypotheses: (I) That the market leader is likely to compete in the mid-price segment, and that (II) Its unit price is likely to be higher than that of the nearest competition.For both 2008 and 2007 the results supported Hypothesis I. The market leader Kleenex was a member of the mid-price segment, as hypothesized.However, the results did not support Hypothesis II for both 2008 and 2007, because the runner-up, Puffs was a member of the premium segment with a higher price tag to match.We found that relative price was a strategic variable, as hypothesized.A pattern is emerging in price-quality segmentation analysis. In ten of the thirteen studies—that exclude Men’s and Women’s Razor-Blades, and Ground Coffee—the market leader was found to be a member of the mid-price segment, as we have hypothesized.Moreover, results in seven markets supported Hypothesis II.We also discovered three strategic groups in the industry.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81856406","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 reveals the situation at the international market of wheat in retrospective period with a stress on the previous three years. It examines the connections between the initial indicators such as production, consumption, export, import, stocks, etc. Derivative indicators are studied in order to find export orientation and import dependency at the wheat market. The ratio between the supply and the demand is calculated and the functioning of the market mechanism is explained. The balance method is applied which is very adequate for empirical proof of the interaction between supply, demand, and prices. The fluctuations of international prices of wheat are explained on the basis of the results from the calculations. The prices can be considered as one of the best indicator for studying and forecasting of the market situation. A short-term forecast for the future development of the market and market prices is prepared. The most vulnerable up-to-date issues of the food security are discussed and recommendations are made, because the agricultural products are very important for the life of human beings and are of great concern of the policy makers. The methodology, the research methods, and the results will enrich the existing knowledge in this sphere.
{"title":"The International Market of Wheat and the Food Security","authors":"V. Petkov","doi":"10.22158/jepf.v9n3p83","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p83","url":null,"abstract":"The article reveals the situation at the international market of wheat in retrospective period with a stress on the previous three years. It examines the connections between the initial indicators such as production, consumption, export, import, stocks, etc. Derivative indicators are studied in order to find export orientation and import dependency at the wheat market. The ratio between the supply and the demand is calculated and the functioning of the market mechanism is explained. The balance method is applied which is very adequate for empirical proof of the interaction between supply, demand, and prices. The fluctuations of international prices of wheat are explained on the basis of the results from the calculations. The prices can be considered as one of the best indicator for studying and forecasting of the market situation. A short-term forecast for the future development of the market and market prices is prepared. The most vulnerable up-to-date issues of the food security are discussed and recommendations are made, because the agricultural products are very important for the life of human beings and are of great concern of the policy makers. The methodology, the research methods, and the results will enrich the existing knowledge in this sphere.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89358482","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}
China’s economy is undergoing a difficult period in which its gross domestic product, rate of employment, and residential real estate market are a few segments that are in serious trouble. China’s gross domestic product, at one time the envy of the global economy, has experienced a severe slowdown that deeply worries its policymakers. This has affected its workforce resulting in layoffs and that China’s young graduates cannot find employment matching their training and level of education. The once-booming real estate market has experienced severe contractions resulting in ghost cities full of empty buildings.The response of China’s President Xi has been anything but exemplary. Xi’s policies and actions have attempted to turn China’s economy away from privatization, high technology, and innovation just so he can retain control over the country even if it means slower economic growth.The aim and purpose of this article is to examine China’s economy and what President Xi is attempting to accomplish as its leader.
{"title":"Where is China’s Economy Heading under Xi?","authors":"Arthur S. Guarino","doi":"10.22158/jepf.v9n3p76","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p76","url":null,"abstract":"China’s economy is undergoing a difficult period in which its gross domestic product, rate of employment, and residential real estate market are a few segments that are in serious trouble. China’s gross domestic product, at one time the envy of the global economy, has experienced a severe slowdown that deeply worries its policymakers. This has affected its workforce resulting in layoffs and that China’s young graduates cannot find employment matching their training and level of education. The once-booming real estate market has experienced severe contractions resulting in ghost cities full of empty buildings.The response of China’s President Xi has been anything but exemplary. Xi’s policies and actions have attempted to turn China’s economy away from privatization, high technology, and innovation just so he can retain control over the country even if it means slower economic growth.The aim and purpose of this article is to examine China’s economy and what President Xi is attempting to accomplish as its leader.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80533212","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 empirical research topic for this paper is a panel dataset of 31 provinces and urban areas from my country from 2011 to 2020. On the one hand, it gauges the level of regional digital economic development. On the other side, we’ll talk about the structural impact of the level of digitalization on the urban-rural income difference and further debate whether the digital economy helps close or widen this gap. The findings show that the degree of digitization has a significant impact on reducing the income gap between urban and rural areas, while an increase in the Internet coverage index helps do so. However, the overall impact makes the digital economy unfavorable to reducing the income gap between urban and rural areas.
{"title":"A Study on the Impact of Urban Digitalization on the Urban-rural Income Gap","authors":"Jin Zheng, Zhengwei Tan, Mengmeng Dou, Danni Mao","doi":"10.22158/jepf.v9n3p64","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p64","url":null,"abstract":"The empirical research topic for this paper is a panel dataset of 31 provinces and urban areas from my country from 2011 to 2020. On the one hand, it gauges the level of regional digital economic development. On the other side, we’ll talk about the structural impact of the level of digitalization on the urban-rural income difference and further debate whether the digital economy helps close or widen this gap. The findings show that the degree of digitization has a significant impact on reducing the income gap between urban and rural areas, while an increase in the Internet coverage index helps do so. However, the overall impact makes the digital economy unfavorable to reducing the income gap between urban and rural areas.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90059019","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}
Businesses face multiple challenges throughout their early years of performance. Entrepreneurial culture plays a significant role in the environmental ecosystem of the businesses in developing countries. Internally, having entrepreneurial orientation strategy at their business focus certainly improves SMEs’ position by initiating courage for exploring new opportunities and taking risk, initiate innovation, act proactively on the market and to set autonomy and competitive aggressiveness as standards in their operations. The study has proposed six theoretical propositions for entrepreneurial orientation-SMEs’ success relationship under the influence of the entrepreneurial culture. The six propositions derived from this context have been elaborated by applying a multiple-case research strategy. Participant companies have been part of the private healthcare sector in Macedonia. Interviews with the founders have been conducted to examine their personal views on the entrepreneurial culture in the country, as well as to practically test the propositions on their real business experience and current performance. Study results have indicated relatively low threat from the entrepreneurial culture to the entrepreneurial orientation dimensions and the businesses success correspondingly. Overall, the study has provided vital context-specific results that might guide managers in building strategies and plans that better suit local conditions and avoid adverse consequences.
{"title":"Entrepreneurial Culture as Threat to SMEs’ Entrepreneurial Orientation-Success Relationship in Developing Countries – The Case of Private Healthcare Sector in Macedonia","authors":"Elena Gjorevska","doi":"10.22158/jepf.v9n3p39","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p39","url":null,"abstract":"Businesses face multiple challenges throughout their early years of performance. Entrepreneurial culture plays a significant role in the environmental ecosystem of the businesses in developing countries. Internally, having entrepreneurial orientation strategy at their business focus certainly improves SMEs’ position by initiating courage for exploring new opportunities and taking risk, initiate innovation, act proactively on the market and to set autonomy and competitive aggressiveness as standards in their operations. The study has proposed six theoretical propositions for entrepreneurial orientation-SMEs’ success relationship under the influence of the entrepreneurial culture. The six propositions derived from this context have been elaborated by applying a multiple-case research strategy. Participant companies have been part of the private healthcare sector in Macedonia. Interviews with the founders have been conducted to examine their personal views on the entrepreneurial culture in the country, as well as to practically test the propositions on their real business experience and current performance. Study results have indicated relatively low threat from the entrepreneurial culture to the entrepreneurial orientation dimensions and the businesses success correspondingly. Overall, the study has provided vital context-specific results that might guide managers in building strategies and plans that better suit local conditions and avoid adverse consequences.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79439881","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}
Morocco places Africa at the heart of its strategic choices. It has never ceased to develop relations and partnerships with the countries of the continent. Which reflects its desire to become a major player in the development of Africa.This has encouraged Moroccan companies wishing to internationalize their activities to focus their strategies on investments in Africa.Therefore, the investments of Moroccan companies leaving to African countries are recording an increasing trend for several years.The objective of this article is, first, to highlight the regulatory framework put in place to frame and scale the activities of Moroccan companies in Africa, second, to analyze the evolution of trade between Moroccan companies and their African partners and finally, to determine the offensive strategies used by these companies to consolidate their markets in Africa.
{"title":"Moroccan Companies in Africa: Performances and Strategies","authors":"Mina Makboul, Manal Ardy","doi":"10.22158/jepf.v9n3p31","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p31","url":null,"abstract":"Morocco places Africa at the heart of its strategic choices. It has never ceased to develop relations and partnerships with the countries of the continent. Which reflects its desire to become a major player in the development of Africa.This has encouraged Moroccan companies wishing to internationalize their activities to focus their strategies on investments in Africa.Therefore, the investments of Moroccan companies leaving to African countries are recording an increasing trend for several years.The objective of this article is, first, to highlight the regulatory framework put in place to frame and scale the activities of Moroccan companies in Africa, second, to analyze the evolution of trade between Moroccan companies and their African partners and finally, to determine the offensive strategies used by these companies to consolidate their markets in Africa.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79770971","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}
T. Hojjat, J. Ruíz, Aaróm Víctor Mondragón Villanueva
The purpose of this research paper is to determine the contribution of financial inclusion on the reduction of poverty. Peru was used as a case study to analyze the policy process in reduction of poverty through financial inclusion using data for the period of 2010-2019. The general research hypothesis is that financial inclusion can contribute to the reduction of poverty. Panel data model was specified whose estimation was made through the fixed effects estimator.Within the specified econometric model, the dependent variable was the poverty rate, while the explanatory variable of interest, in this case, financial inclusion, was measured through a multidimensional index of financial inclusion. Additionally, a set of control variables was incorporated: economic growth, income inequality, labor informality rate, and average number of years of education achieved.The results of the research demonstrate evidence in favor of the general research hypothesis, confirming that financial inclusion presents a statistically significant contribution of 1% on the reduction of poverty in Peru during the period 2010-2019. Likewise, regarding the control variables, it is identified that the increase in the levels of economic growth and average years of education are also relevant for the reduction of poverty. Additionally, it is corroborated that the reduction of the levels of income inequality and labor informality lead to an improvement in reduction of the poverty rates.
{"title":"Financial Inclusion and Poverty Reduction: An Analysis of Panel Data 2010-2019","authors":"T. Hojjat, J. Ruíz, Aaróm Víctor Mondragón Villanueva","doi":"10.22158/jepf.v9n3p1","DOIUrl":"https://doi.org/10.22158/jepf.v9n3p1","url":null,"abstract":"The purpose of this research paper is to determine the contribution of financial inclusion on the reduction of poverty. Peru was used as a case study to analyze the policy process in reduction of poverty through financial inclusion using data for the period of 2010-2019. The general research hypothesis is that financial inclusion can contribute to the reduction of poverty. Panel data model was specified whose estimation was made through the fixed effects estimator.Within the specified econometric model, the dependent variable was the poverty rate, while the explanatory variable of interest, in this case, financial inclusion, was measured through a multidimensional index of financial inclusion. Additionally, a set of control variables was incorporated: economic growth, income inequality, labor informality rate, and average number of years of education achieved.The results of the research demonstrate evidence in favor of the general research hypothesis, confirming that financial inclusion presents a statistically significant contribution of 1% on the reduction of poverty in Peru during the period 2010-2019. Likewise, regarding the control variables, it is identified that the increase in the levels of economic growth and average years of education are also relevant for the reduction of poverty. Additionally, it is corroborated that the reduction of the levels of income inequality and labor informality lead to an improvement in reduction of the poverty rates.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73269688","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 asymmetry of stock market volatility has existed for a long time. Most of the early scholars’ research on this phenomenon is based on the assumption of efficient market. In recent years, with the development and deepening of behavioral finance theory, psychological factors have been added to the research process as an important variable to better explain the asymmetry of stock market volatility. Therefore, on the basis of this analysis, this paper uses the basic theories of overconfidence, disposal effect, herding effect and framing effect of behavioral finance to analyze the impact of different psychological conditions on stock market volatility. This paper collects all the closing price data of the Shanghai and Shenzhen 300 index, and processes the logarithmic rate of return, then introduces the proxy variable turnover rate of psychological factors into the mean equation of EGARCH model, establishes a modified EGARCH model, and obtains the empirical results that psychological factors do have an impact on the asymmetry of volatility in China’s stock market. It is concluded that: first, there is asymmetry of volatility in China’s stock market, Investors will respond significantly more to bad news than to good news. Second, when investors are hit by bad news, their expectations for the future become worse, which will increase the turnover rate and finally obtain a lower yield; When investors are hit by good news, their expectations for the future become better, which will reduce the turnover rate and finally obtain a higher yield. Finally, according to these two conclusions, positive and feasible suggestions are given.
{"title":"The Impact of Psychological Factors on the Asymmetry of Stock Market Volatility in China—An Empirical Study Based on EGARCH Model","authors":"Tao Yang, Yanan Su","doi":"10.22158/jepf.v9n2p124","DOIUrl":"https://doi.org/10.22158/jepf.v9n2p124","url":null,"abstract":"The asymmetry of stock market volatility has existed for a long time. Most of the early scholars’ research on this phenomenon is based on the assumption of efficient market. In recent years, with the development and deepening of behavioral finance theory, psychological factors have been added to the research process as an important variable to better explain the asymmetry of stock market volatility. Therefore, on the basis of this analysis, this paper uses the basic theories of overconfidence, disposal effect, herding effect and framing effect of behavioral finance to analyze the impact of different psychological conditions on stock market volatility. This paper collects all the closing price data of the Shanghai and Shenzhen 300 index, and processes the logarithmic rate of return, then introduces the proxy variable turnover rate of psychological factors into the mean equation of EGARCH model, establishes a modified EGARCH model, and obtains the empirical results that psychological factors do have an impact on the asymmetry of volatility in China’s stock market. It is concluded that: first, there is asymmetry of volatility in China’s stock market, Investors will respond significantly more to bad news than to good news. Second, when investors are hit by bad news, their expectations for the future become worse, which will increase the turnover rate and finally obtain a lower yield; When investors are hit by good news, their expectations for the future become better, which will reduce the turnover rate and finally obtain a higher yield. Finally, according to these two conclusions, positive and feasible suggestions are given.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76464486","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}
This study sought to determine a framework of upholding trade liberalism for increased capital inflows in the form of Foreign Direct Investment (FDI) for Zimbabwe. The study used the ARDL-ECM in the determination of the nexus between the two variables, for the data covering 1980 to 2021. Eviews Version 9.0 Statistical Package was used to run the regressions. Data were obtained from the Reserve Bank of Zimbabwe, International Monetary Fund and World Bank. The study found that in the short-run, trade openness has a significant inverse relationship with capital flows (FDI), whilst in the long-run there is a significant positive relationship between them for Zimbabwe. The study recommend that there be duty free on capital goods, that the government give incentives on exporters, that all goods exported go through the process of value addition, that the government provide subsidies on exporters and, that the government ensure efficiency at ports through infrastructure development.
这项研究试图确定一个支持贸易自由主义的框架，以增加津巴布韦以外国直接投资(FDI)形式流入的资本。该研究使用了ARDL-ECM来确定两个变量之间的关系，数据涵盖1980年至2021年。采用Eviews Version 9.0 Statistical Package进行回归分析。数据来自津巴布韦储备银行、国际货币基金组织和世界银行。研究发现，在短期内，贸易开放与资本流动(FDI)呈显著的负相关关系，而在长期内，津巴布韦的贸易开放与资本流动(FDI)之间存在显著的正相关关系。该研究建议对资本货物实行免税，政府对出口商给予激励，所有出口的货物都要经过增值过程，政府向出口商提供补贴，政府通过基础设施发展确保港口的效率。
{"title":"Trade Liberalism-Capital Inflow: An Inclusive Framework for Zimbabwe","authors":"Shame Mukoka","doi":"10.22158/jepf.v9n2p140","DOIUrl":"https://doi.org/10.22158/jepf.v9n2p140","url":null,"abstract":"This study sought to determine a framework of upholding trade liberalism for increased capital inflows in the form of Foreign Direct Investment (FDI) for Zimbabwe. The study used the ARDL-ECM in the determination of the nexus between the two variables, for the data covering 1980 to 2021. Eviews Version 9.0 Statistical Package was used to run the regressions. Data were obtained from the Reserve Bank of Zimbabwe, International Monetary Fund and World Bank. The study found that in the short-run, trade openness has a significant inverse relationship with capital flows (FDI), whilst in the long-run there is a significant positive relationship between them for Zimbabwe. The study recommend that there be duty free on capital goods, that the government give incentives on exporters, that all goods exported go through the process of value addition, that the government provide subsidies on exporters and, that the government ensure efficiency at ports through infrastructure development.","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86403432","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}
Since the commencement of the New Budget Law in 2015, China provincial governments was given the legal rights to issue Local Government Bonds, which has played a significant role in revealing local indebtedness that was built up over the years. The rapid infrastructure developments have brought up respective debt levels in various levels of governments, and there exist strong concerns on whether provinces with poor development levels are on the edge of financial distress. In addition, it is also unclear on the relationship between local economic development and high debt levels. This research is an attempt to answer that question, and provide observations and analysis based on past local debt data. In summary, this research used provincial LGB data and fiscal income statistics to establish relationships with local debt burden, governors’ financing decisions, as well as the LGB issuance limit setting process. Compared to existing research, updated provincial level data will be used (2015-2021).
{"title":"How Did Local Debt Burden Impact Governors’ Financing Decisions in Meeting Development Goals?","authors":"Yueze Wu","doi":"10.22158/jepf.v9n2p107","DOIUrl":"https://doi.org/10.22158/jepf.v9n2p107","url":null,"abstract":"Since the commencement of the New Budget Law in 2015, China provincial governments was given the legal rights to issue Local Government Bonds, which has played a significant role in revealing local indebtedness that was built up over the years. The rapid infrastructure developments have brought up respective debt levels in various levels of governments, and there exist strong concerns on whether provinces with poor development levels are on the edge of financial distress. In addition, it is also unclear on the relationship between local economic development and high debt levels. This research is an attempt to answer that question, and provide observations and analysis based on past local debt data. In summary, this research used provincial LGB data and fiscal income statistics to establish relationships with local debt burden, governors’ financing decisions, as well as the LGB issuance limit setting process. Compared to existing research, updated provincial level data will be used (2015-2021).","PeriodicalId":73718,"journal":{"name":"Journal of economics and public finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81980933","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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