Economic Consequences of Military Expenditure: Evidence from Southern Europe and Turkey

2015 ◽  
pp. 221-234
Author(s):  
Darshana Udayanganie ◽  
Evangelos N. Charos
Keyword(s):  
Military Expenditure ◽  
Economic Consequences ◽  
Southern Europe

scholarly journals The labour market impact of COVID-19: early evidence for a sample of enterprises from Southern Europe

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Allan Webster ◽  
Sangeeta Khorana ◽  
Francesco Pastore
Keyword(s):  
Regression Analysis ◽  
Point Of View ◽  
Economic Consequences ◽  
Southern Europe ◽  
Content Type ◽  
Early Evidence ◽  
Wide Range ◽  
Containment Measures ◽  
The Impact ◽  
Firm Closures

PurposeThe choice of Southern Europe is partly based on the observation that the sample includes a number of countries whose economies faced more severe difficulties than elsewhere in Europe. Economically they were less able to absorb the economic shock posed by COVID-19. It is also partly based on the characteristics of the pandemic. A number of countries in the sample were amongst the earliest in Europe to be hit by the pandemic and a several were harder hit in terms of both morbidity and mortality.Design/methodology/approachThis study uses evidence from World Bank enterprise surveys of a sample of firms from six countries in Southern Europe. It examines the early evidence of the effects of COVID-19 on labour markets. The economic consequences potentially cover a wide range of issues. The focus of this study is on firm level evidence of the effect on labour. The evidence and the analysis are provided at a time when the pandemic is still in progress. The authors use both traditional regression analysis and IPWRA to assess the joint effect of loans versus government support on, firstly, the change in sales revenues and, secondly, the number of weeks that the firm would expect to survive with no sales revenues.FindingsThe study suggests that, despite efforts to support firms and hoard labour, there is a prospect of a significant number of firm closures with a consequent loss of employment. Temporary firm closures also represent a substantial loss of labour weeks. These are partly related to a significant number of workers subject to furloughs. The empirical findings suggest that COVID-19 cases and deaths have directly affected firm sales but government containment measures, particularly closures, have more strongly affected firms. Losses of sales were unsurprisingly related to losses of employment. Remote working has contributed to sustaining employment but online business has not affected most sectors.Research limitations/implicationsThe future progress of COVID-19 and government containment measures is uncertain, and the full economic consequences will probably continue to emerge after the end of the pandemic. The full extent of the impact on labour will probably not be the first of these. There are obvious advantages in seeking to learn lessons from the early stages of the pandemic but there are also obvious constraints. The full economic consequences will take longer to emerge than the pandemic itself and the full consequences for employment will take longer to be evident than many other economic effects.Practical implicationsBoth temporary closures and furloughs impose costs that will be borne by firms, workers and government. The effects of COVID-19 on firms differ across sectors. Adverse effects tend to be higher in hospitality, non-essential retail and travel. That many firms lack the capacity to survive further temporary closures of a similar duration to those in the earlier stages emphasises that the support provided in the near future is of critical importance to control employment losses through permanent firm closures. A long-term perspective suggests neither permanent closure nor laying off workers may be the best response to a temporary crisis in demand. A stakeholder model of the firm would often suggest that it is not an optimal for the point of view of workers or the wider economy either. Both imply a preference for labour hoarding.Social implicationsThe most affected are sectors with a high proportion of female workers and, in consequence, most of the countries in the sample exhibit an early decline of the already lower than average share of women in employment.Originality/valueThe data used have been recently released and this is the first analysis using the data to look at the consequence on firms employment decisions during the Pandemic. The case of Southern Europe is much understudied, though one of the most dramatic as to the consequences of the pandemic. From a methodological point of view, the authors use not only traditional regression analysis, but also the matching approach to identify the effect of different policy options on labour demand by firms.

scholarly journals Impact of Domestic and Transnational Terrorism on Capital Flight: Moderating role of Military Expenditure and Institutional Quality. Evidence from Asian & MENA Countries

2018 ◽  
pp. 139-157
Author(s):  
Zaheer Abbas Et al.,
Keyword(s):  
Institutional Quality ◽  
Military Expenditure ◽  
Economic Consequences ◽  
Capital Flight ◽  
Method Of Moment ◽  
Transnational Terrorism ◽  
Mena Countries ◽  
Policy Variable ◽  
Active Research

This research is fundamentally concerned with the issue of terrorism and its impact on capital flight from Asian countries and MENA countries. Terrorism remains an active research topic with respect to economic consequences; such that increase in terrorism causes political instability, which gives a poor economic outlook, hence investors tend to shift their money out of the victimized country. Furthermore, this study has explored the distinct impacts of domestic and transnational terrorism simultaneously for capital flight. Moreover, this study has discovered the role of military expenditure as a policy variable to combat terrorism. Besides this, the study also highlights the prominence of institutional quality because the effectiveness of government institutions plays a significant role to ameliorate the uncertainty arising due to terrorism and hence cause a reduction in capital flight. Panel data comprising of 9 Asian and 5 Mena countries from 2006 to have been used in this study. Generalized Method of Moment for empirical testing has been applied to address the issue of capital flight trap and endogeneity among variables. Findings reveal that both dimensions of terrorism have a significant impact on capital flight.

The economic consequences of reduced UK military expenditure

1984 ◽  
Vol 8 (3) ◽  
pp. 297-310 ◽  
Author(s):  
J. P. Dunne ◽  
R. P. Smith
Keyword(s):  
Military Expenditure ◽  
Economic Consequences

Еnforcement of Property Rights and Conractual Obligations

2003 ◽  
pp. 83-100 ◽  
Author(s):  
A. Radygin ◽  
R. Entov
Keyword(s):  
Property Rights ◽  
Legal Framework ◽  
Economic Consequences ◽  
Theoretical Approaches ◽  
Contractual Obligations ◽  
Regional Authorities ◽  
Practical Recommendations

The paper deals with theoretical approaches to the problems of property rights and contractual obligations and with analysis of economic consequences of the imperfect enforcement system. In particular, the authors consider Russian experience in the sphere of corporate conflicts. Legal and practical recommendations related to the improvement of legal framework, judiciary reform, executory process and different federal and regional authorities are also presented.

Budget as an Instrument of Reproduction of Bureaucracy in Russia

2006 ◽  
pp. 87-96
Author(s):  
Yu. Shvetsov
Keyword(s):  
The State ◽  
Economic Consequences ◽  
Material Base ◽  
Characteristic Features

The article considers the problem of bureaucratisation of the state and the most important social and economic consequences of this phenomenon. The essence of bureaucracy has been revealed, characteristic features of its functioning in Russia have been analyzed; the material base of bureaucracy and its dominating status in the society have been substantiated. The conclusion has been made that the process of changing the role of the budget to serve the interests of bureaucracy is being accomplished.

Społeczeństwo holenderskie i los Żydów: skomplikowana historia

2016 ◽  
pp. 425-434
Author(s):  
Dan Michman
Keyword(s):  
The Netherlands ◽  
Southern Europe ◽  
Dutch Society ◽  
Nazi Occupation ◽  
The Holocaust ◽  
Western European ◽  
Post War ◽  
Of Greece

The percentage of victimization of Dutch Jewry during the Shoah is the highest of Western, Central and Southern Europe (except, perhaps of Greece), and close to the Polish one: 75%, more than 104.000 souls. The question of disproportion between the apparent favorable status of the Jews in society – they had acquired emancipation in 1796 - and the disastrous outcome of the Nazi occupation as compared to other countries in general and Western European in particular has haunted Dutch historiography of the Shoah. Who should be blamed for that outcome: the perpetrators, i.e. the Germans, the bystanders, i.e. the Dutch or the victims, i.e. the Dutch Jews? The article first surveys the answers given to this question since the beginnings of Dutch Holocaust historiography in the immediate post-war period until the debates of today and the factors that influenced the shaping of some basic perceptions on “Dutch society and the Jews”. It then proceeds to detailing several facts from the Holocaust period that are essential for an evaluation of gentile attitudes. The article concludes with the observation that – in spite of ongoing debates – the overall picture which has accumulated after decades of research will not essentially being altered. Although the Holocaust was initiated, planned and carried out from Berlin, and although a considerable number of Dutchmen helped and hid Jews and the majority definitely despised the Germans, considerable parts of Dutch society contributed to the disastrous outcome of the Jewish lot in the Netherlands – through a high amount of servility towards the German authorities, through indifference when Jewish fellow-citizens were persecuted, through economically benefiting from the persecution and from the disappearance of Jewish neighbors, and through actual collaboration (stemming from a variety of reasons). Consequently, the picture of the Holocaust in the Netherlands is multi-dimensional, but altogether puzzling and not favorable.

The Role of Threat and Economic Uncertainty in Support for Scottish Independence

2014 ◽  
Vol 23 (1) ◽  
pp. 103-124 ◽  
Author(s):  
Daniel Kopasker
Keyword(s):  
Economic Consequences ◽  
Perceived Threat ◽  
Constitutional Change ◽  
Lack Of Information ◽  
Economic Expectations ◽  
Scottish Independence ◽  
The Individual ◽  
The Impact ◽  
Levels Of Support

Existing research has consistently shown that perceptions of the potential economic consequences of Scottish independence are vital to levels of support for constitutional change. This paper attempts to investigate the mechanism by which expectations of the economic consequences of independence are formed. A hypothesised causal micro-level mechanism is tested that relates constitutional preferences to the existing skill investments of the individual. Evidence is presented that larger skill investments are associated with a greater likelihood of perceiving economic threats from independence. Additionally, greater perceived threat results in lower support for independence. The impact of uncertainty on both positive and negative economic expectations is also examined. While uncertainty has little effect on negative expectations, it significantly reduces the likelihood of those with positive expectations supporting independence. Overall, it appears that a general economy-wide threat is most significant, and it is conjectured that this stems a lack of information on macroeconomic governance credentials.

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