Secular stagnation in the modern world

2018 ◽  
pp. 125-141 ◽  
Author(s):  
S. M. Drobyshevsky ◽  
P. V. Trunin ◽  
A. V. Bozhechkova
Keyword(s):  
Public Debt ◽  
Capital Accumulation ◽  
Technological Development ◽  
Japanese Economy ◽  
Modern World ◽  
Key Factors ◽  
Destruction Process ◽  
Secular Stagnation ◽  
The Impact

The paper studies the factors of secular stagnation. Key factors of long-term slowdown in economic growth include the slowdown of technological development, aging population, human capital accumulation limits, high public debt, creative destruction process violation etc. The authors analyze key theoretical aspects of long-term stagnation and study the impact of these factors on Japanies economy. The authors conclude that most of the factors have significant influence on the Japanese economy for recent decades, but they cannot explain all dynamics. For Russia, on the contrary, we do not see any grounds for considering the decline in the economy since 2013 as an episode of secular stagnation.

scholarly journals Corruption, Taxation and the Impact on the Shadow Economy

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 18 ◽  
Author(s):  
Daniel Němec ◽  
Eva Kotlánová ◽  
Igor Kotlán ◽  
Zuzana Machová
Keyword(s):  
Tax Evasion ◽  
Capital Accumulation ◽  
Shadow Economy ◽  
Labour Force ◽  
Destructive Effect ◽  
Eu Member States ◽  
Initial Assumption ◽  
The Individual ◽  
The Impact

While assessing the economic impacts of corruption, the corruption-related transmission channels which influence taxation as such have to be duly considered. Taking the example of the Czech Republic, this article aims to evaluate the impacts corruption has on the size of the shadow economy as well as on the individual sources of long-term economic growth, making use of a transmission channel through which corruption affects the tax burden components. Using the method of an extended DSGE model, it confirms the initial assumption that an increase in perceived corruption supports the shadow economy’s growth, but at the same time, it demonstrates that corruption and especially its perception has a significantly different effect on two key areas—the capital accumulation and the labour force size. It further identifies another sector of the economy representing taxes which are prone to tax evasion while asserting that corruption has a much more destructive effect on this sector of the economy, offering generalized implications for other post-communist EU member states in a similar situation.

Does Public Debt Service Expenditure Crowd-Out Economic Growth? Empirical Evidence from an African Developing Country

2019 ◽  
Vol 64 (3) ◽  
pp. 23-38
Author(s):  
Talknice Saungweme ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Time Series Data ◽  
Policy Formulation ◽  
Debt Service ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Impact

Abstract This paper contributes to the ongoing debate on the impact of public debt service on economic growth; and it provides an evidence-based approach to public policy formulation in Zimbabwe. The empirical analysis was performed by applying the autoregressive distributed lag (ARDL) technique to annual time-series data from 1970 to 2017. The study findings reveal that the impact of public debt service on economic growth in Zimbabwe is negative in the short run but positive in the long run. The results are suggestive of the existence of a crowding-out effect of public debt service in Zimbabwe in the short run and a crowding-in effect in the long run. In view of these findings, the government should consider fiscal and financial policies that promote a constant supply of long-term finance, long-term fixed investments, and extension of a government securities maturity structure so as to ensure sustainable short- and long-term public debt service expenditures. The study further recommends the strengthening of non-distortionary revenue mobilisation reforms to reduce market distortions and boost domestic investment.

CHOICE OF LOCATION, GROWTH AND WELFARE WITH UNEQUAL POLLUTION EXPOSURES

2014 ◽  
Vol 19 (Supplement_1) ◽  
pp. S58-S82 ◽  
Author(s):  
Hoang Khac Lich ◽  
Frédéric Tournemaine
Keyword(s):  
Environmental Quality ◽  
Capital Accumulation ◽  
Main Idea ◽  
Human Capital Accumulation ◽  
Lower Growth ◽  
Endogenous Growth Model ◽  
The Impact ◽  
Geographical Locations ◽  
General Individuals

We develop an endogenous growth model with human capital accumulation in which firms are polluting and heterogeneous individuals must decide, among other things, where to live. The main idea is that pollution is unequally spread across geographical locations, inducing a trade-off for individuals between environmental quality and leisure. In such economy, we show that a better environmental quality and/or a greater degree of inequality lead individuals to favour cleaner locations which, in turn, boosts long-term growth. Welfare-wise, we find that, in general, individuals prefer a greater level of consumption and leisure but lower growth and environmental quality than those which are possible to achieve. Moreover, we show that the sign of the impact of inequality on environmental quality is likely to be negative.

scholarly journals Specific Features of Luxury Products Branding

2021 ◽  
Vol 15 (3-4) ◽  
pp. 29-38
Author(s):  
Aleksandra Krajnović ◽  
Jurica Bosna ◽  
Sara Grubišić
Keyword(s):  
Competitive Advantage ◽  
Rapid Change ◽  
Modern World ◽  
Key Factors ◽  
Market Strategy ◽  
Luxury Goods ◽  
Optimal Balance ◽  
Luxury Products

In this modern world characterized by rapid change, the role of marketing is increasingly important. Developing a brand is one way in which a competitive advantage can be achieved. The work defines the concept of luxury through the prism of marketing, shows the specifics of marketing in the luxury products market and the key factors that influence the demand for luxury products. The paper found that the key to success is to effectively create a market strategy whose main goal is to create a strong and emotional long-term relationship between the brand and the consumer. Also, the new trend of "abundant rarity" has led companies in the luxury goods sector to strive to strike an optimal balance between exclusivity and affordability.

Thomas Paine

2018 ◽  
Author(s):  
J. C. D. Clark
Keyword(s):  
Class Action ◽  
Modern World ◽  
Thomas Paine ◽  
Political Discourses ◽  
Large Numbers ◽  
Obvious Association ◽  
Number Of Publications ◽  
Ideological Change ◽  
The Impact

Thomas Paine (1737–1809) was England’s greatest revolutionary: no other reformer was as actively involved in events of the scale of the American and French Revolutions, and none wrote such best-selling texts with the impact of Common Sense and Rights of Man. None combined his roles as activist and theorist, or did so in the ‘age of revolutions’, fundamental as it was to the emergence of the ‘modern world’. But his fame meant that he was taken up and reinterpreted for current use by successive later commentators and politicians, so that the ‘historic Paine’ was too often obscured by the ‘usable Paine’. This book attempts to explain Paine against a revised background of early and mid-eighteenth-century England. It argues that he knew and learned less about events in America and France than was once thought. It de-attributes a number of publications, and passages, hitherto assumed to have been his own, and detaches him from a number of causes (including anti-slavery, women’s emancipation, and class action) with which he was once associated. And it argues that his formerly obvious association with the early origin and long-term triumph of natural rights, republicanism, and democracy needs to be rethought. As a result, it offers a picture of radical and reforming movements as more indebted to the initiatives of large numbers of men and women in fast-evolving situations than to the writings of a few individuals who framed lasting, and eventually triumphant, political discourses. Delivering ideological change was much harder than used to be supposed.

Corruption, public debt and economic growth – evidence from developing countries

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carole Ibrahim
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Public Debt ◽  
Economic Effects ◽  
Empirical Literature ◽  
Long Term Effects ◽  
Empirical Examination ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to empirically examine the effect of corruption on public debt and economic growth in 20 developing countries over the period 1996-2018. Design/methodology/approach This study makes use of the autoregressive distributed lag (ARDL) model to detect the long-term relationships, on the one hand, between corruption and public debt and, on the other hand, between corruption and economic growth. Findings The empirical results reveal that corruption increases the debt-to-GDP ratio and that the interactions between corruption and public revenues and between corruption and public spending have a positive influence on public debt in the long run. The estimations also show that high corruption hampers long-term economic growth and increases the negative effect of public debt on economic growth in developing countries. Originality/value While corruption is a prevalent phenomenon in most developing countries, the literature still lacks empirical examination of its economic effects. This study fills this gap with the aim of highlighting that high corruption hinders development in developing nations. This study also examines the impact of the interactions between corruption and components of the fiscal balance on public debt. Moreover, while the existing empirical literature uses regression techniques, this paper uses a panel ARDL approach to detect the long-term effects of corruption.

SOCIAL DISTANCE AND ECONOMIC DEVELOPMENT

2018 ◽  
Vol 24 (4) ◽  
pp. 860-881
Author(s):  
Dimitrios Varvarigos ◽  
Guangyi Xin
Keyword(s):  
Economic Development ◽  
Social Interactions ◽  
Social Distance ◽  
Capital Stock ◽  
Capital Accumulation ◽  
Initial Conditions ◽  
Path Dependency ◽  
Next Generation ◽  
The Impact

We show that path dependency in economic development can emerge in a model where social distance affects capital accumulation. This effect works through the impact of social interactions on individuals’ incentives to invest. Social distance evolves intergenerationally, as the process of social interactions with people from different backgrounds generates familiarity and experiences that are bequeathed to the next generation, thus shaping their perceptions and opinions about “outsiders.” A key result is the possibility of alienation among people who belong to different groups, if social distance is above a threshold. The initial conditions with respect to social distance and the capital stock can both be critical in determining the economy’s long-term prospects.

scholarly journals STEM education as a factor of national security

2021 ◽  
Vol 18 (2) ◽  
pp. 137-151
Author(s):  
Gulnara A. Krasnova ◽  
Alexander V. Fedotov
Keyword(s):  
National Security ◽  
Education System ◽  
Technological Development ◽  
Foreign Countries ◽  
Study Methodology ◽  
The Subject ◽  
The Impact

Problem and goal. Determination of the place and role of education in the national security system at the present stage based on the analysis of the foreign and Russian regulatory framework, as well as scientific literature on the subject of the study. Methodology. Through the analysis and parallel comparison of the main domestic and foreign regulatory legal acts in the field of security, the key transformations of the perception and vision of education as a factor of national security in foreign countries and Russia were identified, and the causal relationships between the development of the education system and national security were formulated. Results. The problems of national security in all their diversity are significantly related to the state and sustainability of the development of the educational sphere, the impact of which is long-term and has far-reaching consequences in the form of imbalances in the socio-economic, scientific and technological development of the country. Conclusion. The formalization of existing approaches to assessing threats to national security and the economic aspects of ensuring national security will allow us to propose a methodology for quantifying the costs of the education system as a whole (or only for higher education), necessary to optimize the impact of education on national security.

scholarly journals The Impact of Public Debt on Economic Growth and Inflation

2014 ◽  
Vol 62 (6) ◽  
pp. 1545-1549
Author(s):  
Marián Kočner
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Original Study ◽  
Analysis Method ◽  
Debt Level ◽  
Eu Countries ◽  
The Impact ◽  
Term Data

The paper on hand of the long term data from public debt, GDP and inflation in selected countries analyzes their interconnection. The analysis method is similar to the methods used by Reinhart, Rogoff (2010a). The original study did not include all new EU countries. The aim of this paper is to assess the impact of the debt level on the economic growth and inflation in the selected new EU countries, which are not listed in the original paper from Reinhart, Rogoff.

scholarly journals Dichotomous approach towards poverty and education as sources of terrorism in the XXI century

2020 ◽  
pp. 1-16
Author(s):  
Mikhail Zelenkov ◽  
Nikita Andreevich Chemezov
Keyword(s):  
Modern World ◽  
Key Factors ◽  
Terrorist Organizations ◽  
Terrorist Activity ◽  
Quantitative And Qualitative Research ◽  
Education Levels ◽  
The Subject ◽  
Terrorist Acts ◽  
The Impact

The subject of this research is the dichotomous approach towards assessment of the impact of poverty and education level of the society upon the growth in the number of terrorist acts in modern world. The author sets a goal based on the results of study of two counterpoising views on the role of the poverty and education levels in the efficiency casting future recruits of terrorist organizations, determine and substantiate the key factors that produce destructive consequence for members of society, including possibility of involvement into terrorist activity. The theoretical base consists of accumulation of scientific works on analysis of the interconnection between the socioeconomic trends and terrorist activity, as well as result of social polling and statistical data. Methodological frameworks Is based on a complex of method, heuristically and gnoseologically justified by the goal and tasks of this work. The article primarily employs comparative and systemic methods, which allowed discovering and comparing the dichotomy of modern scientific studies on this topic. The gnoseological potential of statistical and sociological methods of quantitative and qualitative research allowed to adequately interpret the multi-vector results of scientific research on the same subject of analysis. The results acquired in this research lead to the conclusion that the socioeconomic roots of future terrorists of XXI century play a substantial role in the activity of recruiters of modern terrorist organizations. Poverty, absence of education and subsequent alienation from the society represent the basic catalysts of terrorism, and provide endless supply of young people for modern terrorist organizations.

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