scholarly journals Challenges of the Output-Employment Growth Imbalance in Transition Economies

2021 ◽  
Vol 67 (2) ◽  
pp. 1-9
Author(s):  
Vladimir Mihajlović ◽  
Gordana Marjanović
Keyword(s):  
Transition Economies ◽  
Employment Growth ◽  
Growth Dynamics ◽  
Eastern European ◽  
Stabilization Policy ◽  
Jobless Growth ◽  
Short Run ◽  
Employment Elasticity ◽  
Policy Measures ◽  
The One

Abstract The trade-off between output and unemployment has become an essential part of modern macroeconomics and is known as Okun’s law. However, in transition and emerging markets economies’ context, the output-employment nexus has a much more important role as these countries strive to significantly improve the growth dynamics of both variables. This paper aims to analyze the particularities of this relationship in selected Central- and South-Eastern European transition (and former transition) countries to find out a discrepancy between the output and employment growth. Therefore, the employment elasticity coefficients are calculated. The estimated results suggest that, in the observed period, economic growth has not contributed to satisfactory employment growth, which is commonly referred to as a “jobless growth” hypothesis. Accordingly, this paper attempts to single out the main challenges of the output-employment growth misbalance in these countries and propose adequate policy measures that could reduce it. The industrial policy that differentiates from the “one-size-fits-all” paradigm is emphasized as the most important part of macroeconomic policy in transition economies to make their development more balanced. Additionally, short-run stabilization policy, especially the one focused on the labour market, has a significant role in these economies.

scholarly journals Employment–Growth Nexus in Uganda

2020 ◽  
Vol 8 (7) ◽  
pp. 39-57
Author(s):  
DICKSON TURYAREEBA
Keyword(s):  
Economic Growth ◽  
Employment Growth ◽  
Labour Force ◽  
Single Equation ◽  
Causal Link ◽  
Times Series ◽  
Jobless Growth ◽  
Long Run ◽  
Study Results ◽  
Short Run

Purpose–The purpose of the study is to examine the link between economic growth and employment growth in Uganda. Methodology–The study adopts the causal relationship research design. Times series quarterly data for the period 2001-2018 are used to study the underlying relationship. Descriptive statistics are generated to describe data behavior and econometric models are developed to estimate short run and long run national employment intensities of economic growth.  A single-equation based Engel-Granger two-step Error Correction Mechanism is used to estimate the coefficients of the empirical model. Findings– Estimates reveal that whereas employment growth and economic growth show no causal link in the short run, the two variables show a positive and statistically significant causal link in the long run. The long run employment intensity of economic growth is however less than unity, suggesting that Uganda’s long run economic growth is not employment intensive.  Originality/value-The study results provide empirical evidence on the role of economic growth on employment creation in Uganda while unveiling evidence of jobless growth. Practical implications- Results suggest that adopting pro-poor and growth inclusive interventions may be prudent for job creation for the Ugandan labour force.  

scholarly journals Effectiveness of expansionary fiscal policy under conditions of state fiscal crisis

2012 ◽  
Vol 3 (4) ◽  
pp. 5-22 ◽  
Author(s):  
Elżbieta Rogalska
Keyword(s):  
Fiscal Policy ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Growth Dynamics ◽  
Business Activity ◽  
Eastern European ◽  
Fiscal Stimulus ◽  
Short Run ◽  
Fiscal Adjustments ◽  
Eastern European Countries

The paper provides synthetic presentation of key economic theories on the effectiveness of fiscal policy – neoclassical and keynesian view. Then the problem of the state fiscal budget crisis and its possible influence on the occurrence of ricardian equivalence. The empirical part of the paper presents several cases of significant fiscal stimulus, which proved to be totally ineffective in stimulating economic activity and several cases of fiscal adjustments that – despite the fears of politicians and economists on the negative impact on the economy in the short run – lead to a substantial increase in business activity and growth dynamics of GDP. These examples are supported by the interpretation of the possible factors that determined the nature of the various adjustments and their impact on business activity. The paper is closed with conclusions for further theoretical and empirical analysis, especially useful for fiscal policy in Middle and Eastern European countries in the time of global financial crisis.

Migration and US agricultural competitiveness

2013 ◽  
Vol 10 (2) ◽  
pp. 159-179 ◽  
Author(s):  
Philip L. Martin
Keyword(s):  
Farm Workers ◽  
Easy Access ◽  
Foreign Born ◽  
Guest Workers ◽  
Long Run ◽  
Short Run ◽  
Lower Wage ◽  
The Government ◽  
The One

Agriculture has one of the highest shares of foreign-born and unauthorized workers among US industries; over three-fourths of hired farm workers were born abroad, usually in Mexico, and over half of all farm workers are unauthorized. Farm employers are among the few to openly acknowledge their dependence on migrant and unauthorized workers, and they oppose efforts to reduce unauthorized migration unless the government legalizes currently illegal farm workers or provides easy access to legal guest workers. The effects of migrants on agricultural competitiveness are mixed. On the one hand, wages held down by migrants keep labour-intensive commodities competitive in the short run, but the fact that most labour-intensive commodities are shipped long distances means that long-run US competitiveness may be eroded as US farmers have fewer incentives to develop labour-saving and productivity-improving methods of farming and production in lower-wage countries expands.

scholarly journals The impact of COVID-19 on households´ income in the EU

2021 ◽  
Author(s):  
Vanda Almeida ◽  
Salvador Barrios ◽  
Michael Christl ◽  
Silvia De Poli ◽  
Alberto Tumino ◽  
...  
Keyword(s):  
Fiscal Policy ◽  
Disposable Income ◽  
Income Loss ◽  
Eu Member States ◽  
Policy Interventions ◽  
Discretionary Fiscal Policy ◽  
Policy Measures ◽  
The One ◽  
The Impact ◽  
The Eu

AbstractThis analysis makes use of economic forecasts for 2020 issued by the European Commission in Autumn 2019 and Spring 2020, and of a counterfactual under a no-policy change assumption, to analyse the impact of the COVID-19 crisis on EU households´ income. Additionally, our analysis assesses the cushioning effect of discretionary fiscal policy measures taken by the EU Member States. We find that the COVID-19 pandemic is likely to affect significantly households’ disposable income in the EU, with lower income households being more severely hit. However, our results show that due to policy intervention, the impact of the crisis is expected to be similar to the one experienced during the 2008–2009 financial crisis. In detail, our results indicate that discretionary fiscal policy measures will play a significant cushioning role, reducing the size of the income loss (from −9.3% to −4.3% for the average equivalised disposable income), its regressivity and mitigating the poverty impact of the pandemic. We conclude that policy interventions are therefore instrumental in cushioning against the impact of the crisis on inequality and poverty.

Military Expenditures and Economic Growth in Central and Eastern EU Countries: Evidence from the Post-Cold War Era

2017 ◽  
Vol 25 (3) ◽  
pp. 453-462 ◽  
Author(s):  
Mert Topcu ◽  
İlhan Aras
Keyword(s):  
Economic Growth ◽  
Panel Cointegration ◽  
Eastern European ◽  
The European Union ◽  
New Members ◽  
Post Cold War ◽  
Long Run ◽  
Short Run ◽  
Military Expenditures ◽  
Eastern European Countries

Although the relationship between military expenditures and economic growth is well documented for the old members of the European Union, empirically little is known for the new members. Thus, the goal of this paper is to investigate the economic impact of military expenditures in Central and Eastern European countries employing panel cointegration and causality methods for the period 1993–2013. Findings indicate that the variables in question do not move together in the long run and the direction of causality in the short run is from economic growth to military expenditures. The implications of the results for international relations are discussed.

scholarly journals Inclusive Growth in CEE Countries as a Determinant of Sustainable Development

2018 ◽  
Vol 10 (11) ◽  
pp. 3973 ◽  
Author(s):  
Ewa Cichowicz ◽  
Ewa Rollnik-Sadowska
Keyword(s):  
Sustainable Development ◽  
Multivariate Analysis ◽  
Czech Republic ◽  
Transition Economies ◽  
Eastern European ◽  
Inclusive Growth ◽  
Development Research ◽  
The Czech Republic ◽  
Components Analysis ◽  
Eastern European Countries

Pursuant to the concept of inclusive growth, the authors analyze the transition economies of Central and Eastern European countries, which have become EU members (Bulgaria, Croatia, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia, and Slovenia). CEE countries characterized by comparable historic and economic backgrounds now seem to reach diversified stages of development. The objective of the study is to identify the level of inclusive growth among CEE countries by taking into account indicators assigned to its seven pillars. The article’s thesis is that CEE countries represent social and economic heterogeneity as well as varied levels of sustainable development. Research methods included the application of the principal components analysis and the multivariate analysis. For a literature review, the bibliometric analysis was conducted with the visualization prepared by the VOSviewer software. The main findings suggest that Estonia, Slovenia, and the Czech Republic seem to exhibit the highest level of inclusive growth while Bulgaria and Romania represent the lowest level of indicators measured.

scholarly journals Employment Intensity of Economic Growth: Evidence from Nepal

2019 ◽  
pp. 34-47
Author(s):  
Madhav Prasad Dahal ◽  
Hemant Rai
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Gross Domestic Product ◽  
Employment Growth ◽  
Policy Agenda ◽  
Economic Sectors ◽  
Employment Opportunities ◽  
Jobless Growth ◽  
Review Period ◽  
Intensive Growth

 Economic growth and employment are taken as the top twin objectives of macroeconomic policy agenda in both developed and developing countries. Economic growth brings changes in employment growth. In general, during time of the growth of gross domestic product (GDP) increasing employment opportunities are created while unemployment will be rising during economic deceleration. This paper examines employment intensity of growth in (i) the economy of Nepal in totality, (ii) three broad economic sectors, and (iii) different sub-sectors of the economy over the period 1998-2018. Empirical result indicates labor-intensive growth in Nepal over the review period. There is no indication of jobless growth.

scholarly journals Inclusive Growth of the CEE Countries as a Determinant of Sustainable Development

2018 ◽  
Author(s):  
Ewa Cichowicz ◽  
Ewa Rollnik-Sadowska
Keyword(s):  
Sustainable Development ◽  
Czech Republic ◽  
Transition Economies ◽  
Eastern European ◽  
Inclusive Growth ◽  
The Czech Republic ◽  
Economic Background ◽  
Components Analysis ◽  
Eastern European Countries ◽  
Different Levels

Referring to the concept of inclusive growth, the authors analyse the transition economies of the Central and Eastern European countries, which are the current EU members (Bulgaria, Croatia, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia and Slovenia). That region was selected as the CEE countries characterized by comparable historic and economic background but now they seem to reach diversified stages of development. The objective of the study is to identify the level of inclusive growth among the CEE countries, taking into account indicators assigned to its seven pillars. The thesis is that the CEE countries represent socio and economic heterogeneity as well as different levels of sustainable development. The research methods involved the application of the principal components analysis and the multivariate analysis. For literature review, the bibliometric analysis was conducted with the visualization prepared by the VOSviewer software. The main findings suggest that Estonia, Slovenia and the Czech Republic seem to be the ones with the highest inclusive growth. On the other hand, Bulgaria and Romania represent the lowest level of inclusive growth indicators.

scholarly journals Political and Institutional Characteristics of the Entry of the CEE Region into Regional Media Systems During the Bipolar and Post-Bipolar Periods

Politeja ◽  
2019 ◽  
Vol 15 (6(57)) ◽  
pp. 215-229
Author(s):  
Vitaliy Tereshchuk
Keyword(s):  
Political Influence ◽  
Institutional Characteristics ◽  
Eastern European ◽  
Exchange Networks ◽  
Media System ◽  
Soviet Space ◽  
The Common ◽  
Media Systems ◽  
The One ◽  
The Cold War

In the newly shaped post‑WWI Europe the CEE region was an integral part of the pan‑European media system. The iron curtain that split Europe into two parts in the bipolar period, inevitably led to the emergence of two separate media systems, i.e. the Western European one and the one driven by the USSR (and existing predominantly in Eastern‑European states). These systems were institutionalized by the establishment of separate broadcasting alliances and corresponding TV programme exchange networks. At the same time, in the context of the Cold War, the CEE region was a key target of Western broadcasting with the aim to counter Soviet propaganda and political influence. This factor reinforced by the willingness of the CEE countries to preserve their European identity caused the socialist media system (as well as other Soviet integration projects) to remain artificial and to be rejected in the region. It was clearly confirmed at the beginning of the post‑bipolar period, when, after the collapse of the socialist camp and the USSR, the Soviet‑driven International Radio and Television Organization ceased to exist, and the CEE countries integrated into the European Broadcasting Union, unleashing their desire to “return to Europe”. At the same time, in the context of a policy aimed at preserving control over the post‑Soviet space, Russia makes efforts which could be regarded as an attempt to restore (preserve) the common media space in the post‑Soviet territories. In the paper the CEE region is regarded in the broadest way, including all states which were in socialist bloc, and appropriate former European Soviet republics.

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