Using synthetic epistemological model with axiological framework, it is revealed that tax reduction is good policy when tax rate is lower than normal, and that tax increase is good policy when tax rate is higher than normal, during economic overheat. Meanwhile, it is found that tax reduction is good policy when tax rate is higher than normal and that tax increase is good policy when tax rate is lower than normal, during economic depression. Around two economic issues: 1) how to distribute social wealth between rich agents and poor ones, as well as nations and enterprises? 2) how to maintain social justice via making balance between equality and efficiency? It is suggested to apply elastic tax system towards the axiological good in social economy.
{"title":"An Economic Philosophy towards the Axiological Good via Taxation","authors":"F. Y. Ye","doi":"10.22158/JETMM.V1N2P60","DOIUrl":"https://doi.org/10.22158/JETMM.V1N2P60","url":null,"abstract":"Using synthetic epistemological model with axiological framework, it is revealed that tax reduction is good policy when tax rate is lower than normal, and that tax increase is good policy when tax rate is higher than normal, during economic overheat. Meanwhile, it is found that tax reduction is good policy when tax rate is higher than normal and that tax increase is good policy when tax rate is lower than normal, during economic depression. Around two economic issues: 1) how to distribute social wealth between rich agents and poor ones, as well as nations and enterprises? 2) how to maintain social justice via making balance between equality and efficiency? It is suggested to apply elastic tax system towards the axiological good in social economy.","PeriodicalId":73720,"journal":{"name":"Journal of economics, trade and marketing management","volume":"33 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72535298","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 changing economic scenario of the Indian economy posed new challenges to almost all the sectors of the economy, and the insurance sector is no exception. The introduction of insurance sector reforms not only eliminated the monopoly of life insurance sector, but opened up the insurance windows to the private players which increased the competition in many folds, especially since 2000. The reforms brought an overall increase in insurance penetration as well as insurance density in the country. As a result, the insurance industry is today more efficient and exerts considerable positive impacts on the growth of the Indian economy. The insurance sector contributes to a rise in labour productivity through efficient investments, and also generates productive employment opportunities. In this context, this paper examines dynamics of the relationship between the development of life insurance sector and the real economic growth in the changing policy regime in India, and provides the evidence of the positive and significant relationship between them. Therefore, it is suggested to prioritize the focus on the further development of the sector may be through the implementation of prudent policies to increase rural penetration of life insurance in India. Also, the inclusive growth strategy in the country can be effectively mobilized to enhance the development of the life insurance sector.
{"title":"Life Insurance Sector Development and Economic Growth of India in the Changing Policy Regime","authors":"P. Mishra, J. A. Mir","doi":"10.22158/JETMM.V1N1P34","DOIUrl":"https://doi.org/10.22158/JETMM.V1N1P34","url":null,"abstract":"The changing economic scenario of the Indian economy posed new challenges to almost all the sectors of the economy, and the insurance sector is no exception. The introduction of insurance sector reforms not only eliminated the monopoly of life insurance sector, but opened up the insurance windows to the private players which increased the competition in many folds, especially since 2000. The reforms brought an overall increase in insurance penetration as well as insurance density in the country. As a result, the insurance industry is today more efficient and exerts considerable positive impacts on the growth of the Indian economy. The insurance sector contributes to a rise in labour productivity through efficient investments, and also generates productive employment opportunities. In this context, this paper examines dynamics of the relationship between the development of life insurance sector and the real economic growth in the changing policy regime in India, and provides the evidence of the positive and significant relationship between them. Therefore, it is suggested to prioritize the focus on the further development of the sector may be through the implementation of prudent policies to increase rural penetration of life insurance in India. Also, the inclusive growth strategy in the country can be effectively mobilized to enhance the development of the life insurance sector.","PeriodicalId":73720,"journal":{"name":"Journal of economics, trade and marketing management","volume":"70 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76297457","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 debate around scholarship (engaged and activist) is new in South Africa. Currently, the practice of engaged scholarship and activist scholarship is poor or quasi-inexistent, yet, it is believed that these two approaches can contribute to human rights activism which favours socio-economic development. This paper identifies the patterns and principles of engaged scholarship and activist scholarship and their connection with socio-economic development. It argues that effective engaged and activist scholarship programmes can contribute to and facilitate socio-economic development. Thus, the paper suggests a model outlining four key principles forming a conceptual framework for an effective engaged scholarship and a supporting activist scholarship model that facilitates the awareness and participation of communities in socio-economic development efforts.
{"title":"Engaged and Activist Scholarship for Socio-Economic Development in South Africa: A Conceptual Appraisal","authors":"P. Mbecke","doi":"10.22158/JETMM.V1N1P23","DOIUrl":"https://doi.org/10.22158/JETMM.V1N1P23","url":null,"abstract":"The debate around scholarship (engaged and activist) is new in South Africa. Currently, the practice of engaged scholarship and activist scholarship is poor or quasi-inexistent, yet, it is believed that these two approaches can contribute to human rights activism which favours socio-economic development. This paper identifies the patterns and principles of engaged scholarship and activist scholarship and their connection with socio-economic development. It argues that effective engaged and activist scholarship programmes can contribute to and facilitate socio-economic development. Thus, the paper suggests a model outlining four key principles forming a conceptual framework for an effective engaged scholarship and a supporting activist scholarship model that facilitates the awareness and participation of communities in socio-economic development efforts.","PeriodicalId":73720,"journal":{"name":"Journal of economics, trade and marketing management","volume":"35 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78018092","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}
Applying an extended Mundell-Fleming Model to Australia, this paper finds that expansionary fiscal policy does not affect output whereas expansionary monetary policy raises output. In addition, a higher real stock price, a lower real oil price or a lower expected inflation rate would increase output. Hence, the predictions of the Mundell-Fleming model works for Australia’s economy.
{"title":"Does the Mundell-Fleming Model Apply to Australia’s Economy?","authors":"Y. Hsing","doi":"10.22158/JETMM.V1N1P1","DOIUrl":"https://doi.org/10.22158/JETMM.V1N1P1","url":null,"abstract":"Applying an extended Mundell-Fleming Model to Australia, this paper finds that expansionary fiscal policy does not affect output whereas expansionary monetary policy raises output. In addition, a higher real stock price, a lower real oil price or a lower expected inflation rate would increase output. Hence, the predictions of the Mundell-Fleming model works for Australia’s economy.","PeriodicalId":73720,"journal":{"name":"Journal of economics, trade and marketing management","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78477838","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper empirically investigates the short and long-run causal relationship between foreign direct investment, credit to the private sector, trade openness, gross national expenditure and economic growth in Botswana. In doing this, the paper employs multivariate Granger-Causality within an ARDL-bounds approach to co-integration and unrestricted error correction model (UECM). The paper finds that FDI inflow does not spur economic growth but rather, it is economic growth which promotes FDI inflow, credit to the private sector, trade and national expenditure. However, the paper finds a bi-directional relationship between FDI inflow and credit to the private sector both in the short and the long runs. Thus, policies should be targeted at improving the investment climate for existing domestic and foreign investors through infrastructure development and that external capital inflow should be complemented by domestic savings and investors on other to boost economic growth in Botswana.
{"title":"The Causality between Foreign Direct Investment and Economic Growth in Botswana: A Multivariate Analysis","authors":"Erasmus L. Owusu","doi":"10.22158/JETMM.V1N1P8","DOIUrl":"https://doi.org/10.22158/JETMM.V1N1P8","url":null,"abstract":"The paper empirically investigates the short and long-run causal relationship between foreign direct investment, credit to the private sector, trade openness, gross national expenditure and economic growth in Botswana. In doing this, the paper employs multivariate Granger-Causality within an ARDL-bounds approach to co-integration and unrestricted error correction model (UECM). The paper finds that FDI inflow does not spur economic growth but rather, it is economic growth which promotes FDI inflow, credit to the private sector, trade and national expenditure. However, the paper finds a bi-directional relationship between FDI inflow and credit to the private sector both in the short and the long runs. Thus, policies should be targeted at improving the investment climate for existing domestic and foreign investors through infrastructure development and that external capital inflow should be complemented by domestic savings and investors on other to boost economic growth in Botswana.","PeriodicalId":73720,"journal":{"name":"Journal of economics, trade and marketing management","volume":"52 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76390086","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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