scholarly journals An Investigation of Potential Effects of Opening of Turkish-Armenian Border on the Turkish and Armenian Economies

2010 ◽  
Author(s):  
Ersan Bocutoğlu ◽  
Emre Bulut
Keyword(s):  
Foreign Trade ◽  
Statistical Data ◽  
Population Data ◽  
Well Being ◽  
Economic Effects ◽  
Transportation Costs ◽  
Long Run ◽  
Short Run ◽  
Descriptive Approach ◽  
Nagorno Karabagh

Turkish-Armenian border has been closed due to Nagorno-Karabagh question since 1993. The fact that the 20% of Azerbaijan territory is under Armenian invasion has prevented investigation of potential economic effects of Turkish-Armenian border on related parties so far from being a research agenda. In this study a descriptive approach is adopted since statistical data in hand is inappropriate for an econometric investigation. Long run advantages that an open border brings to Turkey are alternative highway, railway and pipeline routes to Caspian Sea basin and Central Asia while short run advantages are economic gains to Turkish border provinces and port cities connected with Armenia. The long run and short run benefits are vital for Armenia whose economy is agrarian, dependant heavily on foreign trade and foreign aids, experienced high transportation costs, unstable, poor and loosing population although the population data does not reflect the real situation. For Armenia, an open border means a direct territorial connection to European Union (EU), new employment opportunities, up to 23% fall in transportation costs, trans-border pipeline benefits, a flourished foreign trade, and increasing material well being. Consequently the opening of Turkish-Armenian border is strongly advised for it is beneficial to the related parties under the assumption that a resolution on Azeri-Armenian conflicts is reached

An Econometric Analysis on the Relationship between Globalisation and Inequality in South Africa

2020 ◽  
Vol 11 (1) ◽  
pp. 89-89
Author(s):  
Jacques de Jongh
Keyword(s):  
South Africa ◽  
Well Being ◽  
Causality Analysis ◽  
Global Integration ◽  
Development Indicators ◽  
Long Run ◽  
The World ◽  
Distribution Of Resources ◽  
Short Run ◽  
The Impact

Globalisation has had an unprecedented impact on the development and well-being of societies across the globe. Whilst the process has been lauded for bringing about greater trade specialisation and factor mobility many have also come to raise concerns on its impact in the distribution of resources. For South Africa in particular this has been somewhat of a contentious issue given the country's controversial past and idiosyncratic socio-economic structure. Since 1994 though, considerable progress towards its global integration has been made, however this has largely coincided with the establishment of, arguably, the highest levels of income inequality the world has ever seen. This all has raised several questions as to whether a more financially open and technologically integrated economy has induced greater within-country inequality (WCI). This study therefore has the objective to analyse the impact of the various dimensions of globalisation (economic, social and political) on inequality in South Africa. Secondary annual time series from 1990 to 2018 were used sourced from the World Bank Development indicators database, KOF Swiss Economic Institute and the World Inequality database. By using different measures of inequality (Palma ratios and distribution figures), the study employed two ARDL models to test the long-run relationships with the purpose to ensure the robustness of the results. Likewise, two error correction models (ECM) were used to analyse the short-run dynamics between the variables. As a means of identifying the casual effects between the variables, a Toda-Yamamoto granger causality analysis was utilised. Keywords: ARDL, Inequality, Economic Globalisation; Social Globalisation; South Africa

The Real Effects of Military Spending on Security

2014 ◽  
Vol 20 (3) ◽  
pp. 377-393 ◽  
Author(s):  
Lloyd J. Dumas
Keyword(s):  
Military Spending ◽  
Well Being ◽  
Military Force ◽  
Physical Security ◽  
Dead Weight ◽  
Economic Relationships ◽  
Real Effects ◽  
Long Run ◽  
Short Run

AbstractThe indirect effects of military spending on security are stronger and more important than its direct effects, and its long run impact more telling than its short run impact. In the short run, military spending can be a source of both physical security and economic stimulus. In the long run, it can be counterproductive in terms of physical security and will be a dead weight on the economy. How a society’s productive resources are deployed, as between military spending and more economically productive activities, sets it on a long-term course with powerful implications for the ability of its economy to do what it is supposed to do – provide for the material well-being of the population as a whole. The mechanism by which the extensive and extended diversion of productive economic resources to economically unproductive military spending drags an economy down is analyzed. Furthermore, it is possible to use properly structured international and domestic economic relationships in place of threats or use of military force to increase national and international security, while at the same time enhancing, rather than degrading, economic wellbeing. Three principles for structuring such a “peacekeeping economy” are set forth.

scholarly journals Economic Impacts of Banning Subtherapeutic Use of Antibiotics in Swine Production

2002 ◽  
Vol 34 (3) ◽  
pp. 489-500 ◽  
Author(s):  
B. Wade Brorsen ◽  
Terry Lehenbauer ◽  
Dasheng Ji ◽  
Joe Connor
Keyword(s):  
Public Health ◽  
Bacterial Resistance ◽  
Antimicrobial Agents ◽  
Economic Effects ◽  
Swine Production ◽  
Livestock Feed ◽  
Long Run ◽  
Short Run ◽  
Public Health Officials ◽  
Growth Promotants

Public health officials and physicians are concerned about possible development of bacterial resistance and potential effects on human health that may be related to the use of antimicrobial agents in livestock feed. The focus of this research is aimed at determining the economic effects that subtherapeutic bans of antimicrobials would have on both swine producers and consumers. The results show that a ban on growth promotants for swine would be costly, totaling $242.5 million annually, with swine producers sharing the larger portion in the short run and consumers sharing the larger portion in the long run.

LONG-RUN EFFECT OF A DISASTER: CASE STUDY ON THE KOBE EARTHQUAKE

2016 ◽  
Vol 61 (01) ◽  
pp. 1640009 ◽  
Author(s):  
YASUHIDE OKUYAMA
Keyword(s):  
Time Series Data ◽  
Economic Effects ◽  
Series Data ◽  
Growth Path ◽  
Economic Region ◽  
Kobe Earthquake ◽  
Long Run ◽  
Short Run ◽  
Event Based

In 1995, the Kobe earthquake occurred in the second largest economic region of Japan, and its economic damages were accounted around 10 trillion yen. This paper presents an empirical investigation of long-run economic effects of the event based on a time-series data. The results indicate that the event had created statistically significant deviations from the pre-earthquake growth path of Kobe. In addition, the comparison with the projected pre-event growth path revealed that the long-run effects have resulted in a steady decline of per capita GRP, while the short-run impacts led to some positive impacts from recovery and reconstruction during the first several years.

scholarly journals The Relationship between Household Debt and Consumption Spending in South Africa

2017 ◽  
Vol 9 (2) ◽  
pp. 243
Author(s):  
Patience Nkala ◽  
Asrat Tsegaye
Keyword(s):  
South Africa ◽  
Well Being ◽  
Household Debt ◽  
Causality Test ◽  
Policy Makers ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
The Relationship

Consumption has been and remains the main contributor to gross domestic product (GDP) growth in South Africa. Household debt on the other side has remained high over the years. These two economic indicators are a reflection of the well-being of an economy. This study thus examined the relationship between household debt and consumption spending, for the period between 1994 and 2013. The Johansen cointegration technique and the Vector error correction model (VECM) were utilised to test the long run and short run relationships between the variables. The Granger causality test was also employed to test the direction of causality between the variables. Results from this study have revealed that a relationship exists between household debt and consumption spending in South Africa and they have also showed that this relationship flows from household debt to consumption spending. The implications of these results are that consumption spending may be increased through other measures rather than through increasing debt. The study therefore recommends that policy makers avail more investment opportunities for households and to also create employment in a bid to increase the income of households which can then be used to increase household consumption rather than the use of debt.

scholarly journals From Data to Causes I: Building A General Cross-Lagged Panel Model (GCLM)

2019 ◽  
Vol 23 (4) ◽  
pp. 651-687 ◽  
Author(s):  
Michael J. Zyphur ◽  
Paul D. Allison ◽  
Louis Tay ◽  
Manuel C. Voelkle ◽  
Kristopher J. Preacher ◽  
...  
Keyword(s):  
Causal Inference ◽  
Structural Equation ◽  
National Income ◽  
Well Being ◽  
Equation Modeling ◽  
Data Sets ◽  
Subjective Well Being ◽  
Panel Model ◽  
Long Run ◽  
Short Run

This is the first paper in a series of two that synthesizes, compares, and extends methods for causal inference with longitudinal panel data in a structural equation modeling (SEM) framework. Starting with a cross-lagged approach, this paper builds a general cross-lagged panel model (GCLM) with parameters to account for stable factors while increasing the range of dynamic processes that can be modeled. We illustrate the GCLM by examining the relationship between national income and subjective well-being (SWB), showing how to examine hypotheses about short-run (via Granger-Sims tests) versus long-run effects (via impulse responses). When controlling for stable factors, we find no short-run or long-run effects among these variables, showing national SWB to be relatively stable, whereas income is less so. Our second paper addresses the differences between the GCLM and other methods. Online Supplementary Materials offer an Excel file automating GCLM input for Mplus (with an example also for Lavaan in R) and analyses using additional data sets and all program input/output. We also offer an introductory GCLM presentation at https://youtu.be/tHnnaRNPbXs . We conclude with a discussion of issues surrounding causal inference.

scholarly journals Taking the high road: The politics of win-win approaches

2019 ◽  
Vol 29 (Supplement_4) ◽  
Author(s):  
J Gingrich
Keyword(s):  
Political Institutions ◽  
Political Competition ◽  
Well Being ◽  
The Elderly ◽  
Healthy Ageing ◽  
Elderly Age ◽  
Long Run ◽  
Short Run ◽  
The Uk ◽  
High Road

Abstract Background Policy is rarely a direct reflection of public opinion. Party systems and patterns of political competition shape the way issues are presented in politics and the incentive politicians have to act on them. Despite the alleged pro-elderly bias of many political institutions in European countries, and the potential for some types of spending on the elderly to provide broader social benefits, policymakers often do not introduce the most effective policies for supporting healthy ageing. Methods Political manifestos and voting patterns will be examined in order to determine how/if public opinions are translating into changes in government that want to tear down the welfare state and blame it on ageing. Results Although it is true that public spending (e.g. pensions, health) on the elderly remains more extensive and insulated from cuts than other forms of spending, second, in many (not all) countries policies that would help the elderly age in a healthy way are to introduced. These latter policies, which include spending on the poorest elderly, ensuring access to high quality home care and other services, and investing in declining regions where elderly people are often disproportionately likely to live, often are limited. Conclusions Where cross-class/cross-generational coalitions come together to address gender inequities (among the elderly and working age), and develop public services, high road models are possible. Where conflict is framed largely inter-generationally, the well-being of pensioners may be preserved in the short-run, but less investment in the long-run infrastructure of healthy ageing emerges. To make these arguments, the paper shows descriptive patterns of policy developments from the 1980s to today, combined with a brief case study of the UK.

scholarly journals CEO Greed, Corporate Social Responsibility, and Organizational Resilience to Systemic Shocks

2020 ◽  
pp. 014920632090252 ◽  
Author(s):  
Miha Sajko ◽  
Christophe Boone ◽  
Tine Buyl
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Prices ◽  
Global Financial Crisis ◽  
Well Being ◽  
Organizational Outcomes ◽  
Top Executives ◽  
Long Run ◽  
Short Run ◽  
Corporate Social

In this study, we explore how top executives affect the well-being of multiple stakeholders and long-run organizational outcomes. In the context of the 2008 global financial crisis (GFC), we examine how CEO greed impacts firms’ stance toward corporate social responsibility (CSR) prior to the onset of the GFC and how this, in turn, shapes firms’ fate during and after the GFC. We argue that CEO greed will be negatively associated with CSR, because in their unbridled pursuit of personal wealth, greedy CEOs are more likely to exhibit myopic behaviors and neglect investment in CSR. We also adopt a person-pay interactionist logic to theorize that the willingness of greedy executives to invest in CSR will be especially sensitive to different types of pay instruments. Next, we build on recent findings from research on CSR that suggest that stakeholder engagement is a defining feature of resilient organizations. We expect that, due to low CSR investment, firms led by greedy CEOs will experience greater losses in the short run and will take longer time to recover from the 2008 GFC. For a sample of 301 CEOs of public U.S. organizations, we analyzed the stock prices and found general support for our hypotheses.

scholarly journals Does Grief Transfer across Generations? Bereavements during Pregnancy and Child Outcomes

2016 ◽  
Vol 8 (1) ◽  
pp. 193-223 ◽  
Author(s):  
Sandra E. Black ◽  
Paul J. Devereux ◽  
Kjell G. Salvanes
Keyword(s):  
Labor Market ◽  
Adverse Effects ◽  
Birth Outcomes ◽  
Child Outcomes ◽  
Population Data ◽  
Adult Outcomes ◽  
Negative Effects ◽  
Psychological Stressors ◽  
Long Run ◽  
Short Run

Using population data from Norway, we examine the effects of stress induced by the death of the mother's parent during pregnancy on both the short-run and the long-run outcomes of the infant. Using a variety of empirical strategies to address the issue of nonrandom exposure to death during a pregnancy, we find small negative effects on birth outcomes. However, we find no evidence of adverse effects on adult outcomes. This suggests that, though there may be measurable effects on birth outcomes, acute psychological stressors during pregnancy have limited adverse consequences for the child's success in education and the labor market. (JEL I12, J13, J16)

scholarly journals Adaptation and Loss Aversion in the Relationship Between GDP and Subjective Well-Being

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Matti Hovi ◽  
Jani-Petri Laamanen
Keyword(s):  
Economic Growth ◽  
Loss Aversion ◽  
National Income ◽  
Well Being ◽  
Macro Level ◽  
Subjective Well Being ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Over Time

Abstract We examine the roles of macro-level adaptation — including social comparison effects becoming more important over time — and macroeconomic loss aversion in the time-series relationship between national income and subjective well-being. Models allowing for these phenomena are applied to cross-country panel data. We find evidence for macroeconomic loss aversion that becomes more important over time: the effects of economic growth become small and statistically insignificant in the long run, whereas the effects of contractions are large and long-lasting. The results are consistent with the Easterlin paradox and point to it being explained by macro-level adaptation to economic growth. Our results highlight the importance of allowing for both dynamics to distinguish long-run from short-run effects and asymmetries to recognize the important effects of contractions. Failing to do the former leads to a misleading impression of the long-run relationship between economic growth and well-being.

Sign in / Sign up

Export Citation Format

Share Document