The Impact of Local Currency on Regional Economies: A Comment on a Policy Study

2021 ◽  
Vol 39 (3) ◽  
pp. 67-94
Author(s):  
Young-Chul Kim
Author(s):  
William O'Brien

The opening chapter of this book considered different factors that influenced the availability of copper resources in prehistory. While geological distribution and technological expertise were critical, consideration must also be given to the wider societal context of production. The operation of early mines must be explained in terms of access to ore deposits and the desire and ability of different population groups to become involved in primary metal production. The impact on local and regional economies is also relevant, in terms of wealth generation through trade and the repercussions for society as a whole. Understanding the organization of this activity is a challenge. Key elements of the chaîne opératoire are often missing, such as the location of smelting sites or the workshops where objects were made. This makes it difficult to establish links between mines and the circulation of intermediate and final metal products in a wider settlement context. With stone tools it is possible to apply production indices to quantify the different stages involved in the use of a specific raw material, with a view to modelling a lithic production system in space (see Ericson 1984). This approach cannot be easily applied to metal objects, which generally have a more complex life cycle than stone tools. This began with a fundamentally different use of a raw material to create a finished object, requiring chemical as well as physical transformation. For this reason, scientific analysis of prehistoric metalwork is problematic in terms of source provenancing to specific ore deposits and mines. There is the further complication of recycling, which in some instances involved the mixing of metal from different mine sources. One approach has been to identify metal circulation zones where copper of a similar chemistry, lead isotope signature, and/ or alloy type was used (e.g. Northover 1982). Within these circulation zones various patterns of primary and secondary (recycled) metal use can be explored in the context of local workshop traditions. This provides a spatial and typochronological context in which to view the input of metal from particular mines.


1998 ◽  
Vol 30 (1) ◽  
pp. 161-179 ◽  
Author(s):  
R J Stimson ◽  
O H Jenkins ◽  
B H Roberts ◽  
M T Daly

Foreign investment has played a major role in the development of tourism in the Cairns-Far North Queensland region of Australia, one of the nation's most internationalised regional economies. As the owner of a significant number of hotels and tourism operations, the Daikyo Corporation from Japan is the major foreign player, contributing substantially to employment and regional production. In this paper we use input-output analysis to estimate the contribution of Daikyo to the regional economy, which is shown to be positive and considerably greater in its export-to-import ratio effects, than is the case for the total industry sectors.


Author(s):  
Wei Wang ◽  
Xue-Zhou Zhao ◽  
Feng-Wen Chen ◽  
Chia-Huei Wu ◽  
Sangbing Tsai ◽  
...  

High-polluting industries are important sources of pollutant emissions, and closely related to many environmental issues. High-polluting firms face the pressure to exploit technological innovation for improving their environmental operations. This paper explores the impact of corporate social responsibility and public attention on the innovation performance of high-polluting firms. Based on a sample of China’s listed firms in high-polluting industries from 2011 to 2016, we use a panel data model to investigate the associations among corporate social responsibility, public attention and innovation performance. The results show that there is a positive association between corporate social responsibility and innovation performance. There is a positive association between public attention and innovation performance as well. The pressure of regional economies can hinder innovation performance. Furthermore, in the subsample of state-owned enterprises, the association between public attention and innovation performance is more pronounced. Meanwhile, the corporate social responsibility of non-state-owned enterprises plays a stronger role for innovation performance, but its effect will be limited by the pressure of regional economies. Our results can help high-polluting firms implement the innovation strategies for obtaining more environmental benefits and achieving sustainable development.


2004 ◽  
Vol 5 (1) ◽  
pp. 35-59 ◽  
Author(s):  
Ivo J. M. Arnold ◽  
Evert B. Vrugt

Abstract This paper estimates the impact of interest rate shocks on regional output in Germany over the period from 1970 to 2000. We use a vector autoregression (VAR) model to obtain impulse responses, which reveal differences in the output responses to monetary policy shocks across ten German provinces. Next, we investigate whether these differences can be related to structural features of the regional economies, such as industry mix, firm size, bank size and openness. An additional analysis of the volatility of real GDP growth for the period 1992-2000 includes the Eastern provinces. We also present evidence on the interrelationship between firm size and industry, and compare our measure of firm size with those used in previous studies. We conclude that the differential regional effects of monetary policy are related to industrial composition, but not to firm size or bank size.


2019 ◽  
Vol 2 (2) ◽  
pp. 97
Author(s):  
AZZOUZI Asmae ◽  
BOUSSELHAMI Ahmed

<p><em>The objective of this article is to analyze the behavior of the monetary authorities of Morocco in the readjustment of the official weights of anchor currencies in Dirham basket on April 13, 2015. To do this, we are taking into account the objective of the external financing constraints for comparing, with different scenarios, the optimal weights with the implicit weights of the currencies. Such a comparison proves that the authorities take more into consideration the structure of the commercial exchanges than that of the debt for the choice of the optimal weight of the anchor currency. In the final part of the paper, we have delved deeper into this issue by proposing a detailed sectoral study to examine the impact of the exchange rate on the trade balance for each activity sector. Our intention is to find out which foreign currency seems more volatile against the local currency in order to lead the economy to manage the stability of dirham by increasing its weight in the basket. As a result, the higher price elasticity of the Dollar against the dirham encourages Moroccan monetary authorities to increase its weight in the basket. </em></p>


Author(s):  
Dr. John Jasina

This article analyzes their university backgrounds. Tourism can promote job growth and income growth in regional economies. Policymakers in the regional government promote tourism to bring outside money into the local economy. Using accommodation tax revenue data published by the South Carolina Department of Revenue, this paper estimates the employment impact of tourism spending in South Carolina counties. The OLS regression results show that increased tourism spending, as measured by the accommodation tax, leads to increased total county employment, increased county employment in the accommodation sector (NAICS 721), increased county employment in full-service restaurant sector (NAICS 7221) and increased county employment in arts, entertainment, and recreation sector (NAICS 71).


Subject The impact of Brexit on the English-speaking Caribbean. Significance The Caribbean is a region with strong links to the United Kingdom that will be affected significantly by the UK voters' decision to leave the EU ('Brexit'). The region includes sovereign and non-sovereign countries and both groups will be affected, albeit in different ways. Impacts Caribbean concerns will not be a priority for either the United Kingdom or the EU. Uncertainty may further undermine already weak regional economies. CARICOM will need a new trade accord with the United Kingdom, its main export market.


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