Concluding remarks

2019 ◽  
pp. 180-186
Author(s):  
Kazimierz Łaski
Keyword(s):  
Economic Theory ◽  
Great Depression ◽  
Full Employment ◽  
Supply Side ◽  
Financial Instability ◽  
Effective Demand ◽  
Quantity Theory ◽  
Fiscal Austerity ◽  
Supply Side Factors ◽  
Advanced Capitalist

Since 2008 the most advanced capitalist countries have suffered financial instability and mass unemployment, often likened to the catastrophic Great Depression of the 1930s. Which economic theory can better explain the root causes of the crisis, the practical moves that can be designed and implemented by governments to contain the crisis and better guidance to prevent such crises in the future? The theory advanced by Kalecki and Keynes, emphasizing effective demand in the economy, or the mainstream theory that rests on supply-side factors in output and employment, fiscal austerity, and a quantity theory of money approach to prices? The latter theory has brought the misery of unemployment and instability. Full employment depends upon a return to the theory of Kalecki and Keynes.

A Reconsideration of the Role of Demand in Malthus’s Theory of Accumulation*

2020 ◽  
Vol 39 (1) ◽  
pp. 57-76
Author(s):  
Matthew Smith
Keyword(s):  
Political Economy ◽  
Economic Activity ◽  
Capital Accumulation ◽  
Investment Analysis ◽  
Supply Side ◽  
Effective Demand ◽  
Supply Side Factors

Abstract This paper is concerned with the role of effective demand in Malthus’s theory of accumulation expounded in his Principles of Political Economy. As is well known, Keynes praised Malthus for being a forerunner in identifying a lack of effective demand as a cause of depression in economic activity and a constraint on growth. There have since been many interpretations in the literature of Malthus’s position by reference to his arguments against Say’s Law in contending the possibility of “general gluts” and to his theory of capital accumulation. We begin by examining Malthus’s conception of the supply-side factors that determine what we call, “potential accumulation”, being accumulation that is not constrained by demand. The paper then considers the role of effective demand in Malthus’s well known contention of the possibility of “general gluts” and, connectedly, in his theory of demand-constrained capital accumulation. On this basis, we then appraise whether Malthus’s theory anticipates Keynes’s principle of effective demand by reference to the debate on this question in the literature, showing that while Malthus lacked a meaningful saving-investment analysis, he does provide insights important to the modern demand-led approach to growth.

scholarly journals Determinants of Financial Inclusion in Small and Medium Enterprises: Evidence from Ethiopia

2021 ◽  
Vol 14 (7) ◽  
pp. 286
Author(s):  
Betgilu Oshora ◽  
Goshu Desalegn ◽  
Eva Gorgenyi-Hegyes ◽  
Maria Fekete-Farkas ◽  
Zoltan Zeman
Keyword(s):  
Small And Medium Enterprises ◽  
Multiple Linear Regression Model ◽  
Financial Inclusion ◽  
Research Approach ◽  
Supply Side ◽  
Access To Finance ◽  
Secondary Sources ◽  
Medium Enterprises ◽  
Supply Side Factors ◽  
Positive Effect

The study examines the determinant factors that influence financial inclusion among small and medium enterprises (SMEs) in Ethiopia. The study uses an explanatory research design and a mixed research approach with both primary and secondary sources of data. More specifically, the study adopts a multiple linear regression model. The finding of the study reveals that; supply-side factors, demand-side factors, market opportunity, and collateral requirements have a positive effect on the firm’s access to finance. On the other hand, institutional framework factors, and the costs of borrowing negatively affect the firm’s access to finance. This study suggests concerned bodies sustain rapid and inclusive economic growth and hence eradicate extreme poverty and hunger, the policymakers must build an efficient, strong, and well-functioning financial market system that provides affordable and sustainable financial service to SMEs.

scholarly journals CHINA’S INDUSTRIAL STRUCTURE UPGRADE IN THE “NEW NORMAL”: EMPIRICAL TEST AND DETERMINANTS

2018 ◽  
Vol 63 (04) ◽  
pp. 1037-1058 ◽  
Author(s):  
WEN XIAO ◽  
JIA-DONG PAN ◽  
LI-YUN LIU
Keyword(s):  
Development Strategy ◽  
Industrial Structure ◽  
Empirical Test ◽  
Supply Side ◽  
New Normal ◽  
Dummy Variable ◽  
Technology Improvement ◽  
Policy Suggestions ◽  
Regional Economy Development ◽  
Supply Side Factors

This paper measures the index of industrial structure upgrade nationally, regionally and provincially by employing angle cosine method. The results show that China’s industrial structure has upgraded and the East is higher than the Northeast and the Midwest. The paper presents an empirical study to examine the effect of variables including demand-side factors, New Normal as a dummy variable and supply-side factors on industrial structure upgrading. It implies that New Normal is not significant, while consumption, investment, technology improvement and labor supply significantly facilitate the upgrade. It highlights policy suggestions designed to adopt innovation-driven strategy and regional economy development strategy.

scholarly journals What Explains the Regional Variation in the Use of General Practitioners in Australia?

2020 ◽  
Author(s):  
Chunzhou Mu ◽  
Jane Hall
Keyword(s):  
Health Care ◽  
Population Health ◽  
General Practitioners ◽  
Regional Variation ◽  
Regional Differences ◽  
Outcome Variable ◽  
Supply Side ◽  
Demand Side ◽  
Gp Visits ◽  
Supply Side Factors

Abstract Background: Regional variation in the use of health care services is widespread. Identifying and understanding the sources of variation and how much variation is unexplained can inform policy interventions to improve the efficiency and equity of health care delivery. Methods: We examined the regional variation in the use of general practitioners (GPs) using data from the Social Health Atlas of Australia by Statistical Local Area (SLAs). 756 SLAs were included in the analysis. The outcome variable of GP visits per capita by SLAs was regressed on a series of demand-side factors measuring population health status and demographic characteristics and supply-side factors measuring access to physicians. Each group of variables was entered into the model sequentially to assess their explanatory share on regional differences in GP usage. Results: Both demand-side and supply-side factors were found to influence the frequency of GP visits. Specifically, areas in urban regions, areas with a higher percentage of the population who are obese, who have profound or severe disability, and who hold concession cards, and areas with a smaller percentage of the population who reported difficulty in accessing services have higher GP usage. The availability of more GPs led to higher use of GP services while the supply of more specialists reduced use. 30.56% of the variation was explained by medical need. Together, both need-related and supply-side variables accounted for 32.24% of the regional differences as measured by the standard deviation of adjusted GP-consultation rate. Conclusions: There was substantial variation in GP use across Australian regions with only a small proportion of them being explained by population health needs, indicating a high level of unexplained clinical variation. Supply factors did not add a lot to the explanatory power. There was a lot of variation that was not attributable to the factors we could observe. This could be due to more subtle aspects of population need or preferences and therefore warranted. However, it could be due to practice patterns or other aspects of supply and be unexplained. Future work should try to explain the remaining unexplained variation.

scholarly journals A Study of Competition and Concentration of Indian Mortgage (Housing) Finance using Herfindahl Model

2015 ◽  
Vol 2 (2) ◽  
Author(s):  
D. V. Ingle
Keyword(s):  
Interest Rates ◽  
High Intensity ◽  
Low Cost ◽  
Housing Finance ◽  
Supply Side ◽  
Customer Demand ◽  
Market Driven ◽  
Intensity Of Competition ◽  
Supply Side Factors ◽  
National Housing

The growth in housing activities in recent years reflects the optimistic state of the housing finance market in the country. With a growing number of players, the mortgage (housing) finance sector is becoming market driven. The market has witnessed change in lending practices in certain segments to accommodate customer needs. There seems to be high intensity of competition among different players of the housing finance sector. The findings of the study reveal that the business of housing finance is highly concentrated in nature and revolves around a few players only. The top players are HDFC Limited, National Housing Bank, SBI, ICICI and LICHFL. Amongst these three HFIs, HDFC Limited is taking the lead. Talking about the value of HH index with respect to the level of concentration, the trend has continued to remain the same over several years. The performance of these institutions has been influenced by more than just customer demand. Stricter NPA norms, softening interest rates, and stiff competition in mobilizing low-cost deposits have all affected the supply-side factors, which in turn has influenced the performance of these institutions in terms of volume and competitiveness.

scholarly journals Adoption of digital technology in the New Zealand motion picture industry

2021 ◽  
Author(s):  
◽  
Rachel Gwendoline McInnes
Keyword(s):  
New Zealand ◽  
Motion Picture ◽  
Digital Technology ◽  
Diffusion Of Innovations ◽  
Motion Picture Industry ◽  
Supply Side ◽  
Traditional Research ◽  
Adoption And Diffusion ◽  
And Diffusion ◽  
Supply Side Factors

<p>This research applies Frambach's integrated model of the adoption and diffusion of innovations to the adoption of digital technology in the New Zealand motion picture industry. Previous models concerning innovation adoption have typically focused on adopter side variables. The model employed here integrates supply-side variables with the adopter-side variables focused on in traditional research. This research extends Frambach's model to consider the time and extent of adoption. The model is tested through a mail-out survey. Tests of associations between dependent and independent variables are carried out through four measures of association in a bivariate fashion. The results show that supply-side and adopter-side variables are both important influencers of the extent of adoption of digital technology in the motion picture industry. However supply-side factors do not appear to be important determinants of the time of adoption of digital technology in this industry.</p>

scholarly journals EMPIRICAL ANALYSIS ON THE DETERMINANTS OF URBAN PARKS

2020 ◽  
Vol 11 (1) ◽  
Author(s):  
Kenichi SHIMAMOTO
Keyword(s):  
Panel Data Analysis ◽  
Urban Parks ◽  
Well Being ◽  
Supply Side ◽  
Demand Side ◽  
Financial Strength ◽  
Level Data ◽  
Determining Factors ◽  
Park Area ◽  
Supply Side Factors

Urban parks play an important role in enhancing the lifestyle of the community by providing functions which support the environment, safety, health and ell-being. This paper will examine what the determining factors are for the development of urban parks, taking into consideration the supply side and demand side factors and past conditions of urban parks. Japan prefecture level data between 2001 to 2014 will be applied to a panel data analysis. The results find that for the supply side factors, the share of gross production by the construction industry and the financial strength of the local government; and on the demand side factors, preference towards the environment, health and well-being, have impact on the urban park area per capita at a statistically significant level.

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