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تعداد مقالات یافته شده: 80
ردیف عنوان نوع
1 Joint analysis of the non-linear debt-growth nexus and capital account liberalization: New evidence from sub-Saharan region
تحلیل مشترک پیوند غیرخطی رشد بدهی و آزادسازی حساب سرمایه: شواهد جدید از منطقه جنوب صحرا-2021
This paper conducts an empirical investigation of the debt-growth nexus at firm level. We exploit a panel of sub-Saharan firms observed over the period 2004–2014 to jointly assess the impact of debt and financial liberalization on firm growth measured in terms of sales. Using a system GMM estimator, we find an inverted U-shaped relationship between debt and firm growth. However, the form of this relationship was reversed (U-shaped) by examining the joint effect of debt and capital account liberalization. This change results from the adoption of the policy of financial liberalization put in place by the regulatory authorities of the sub-Saharan countries. In addition, our results show that investment impact firm growth. Consequently, agency and trade-off theories are admitted. These findings may yield important policy implications. Policy makers must optimize financial decisions and adopt a gradual financial liberalization policy, thus ensuring the survival of sub-Saharan firms.
keywords: Firm financial structure | Financial liberalization | firm growth | sub-Saharan Africa | System GMM
مقاله انگلیسی
2 Mental accounting and consumption of self-produced food
حسابداری ذهنی و مصرف غذای خود تولیدی-2021
This is an exploratory study on mental accounting and food budgeting of agricultural households, in which we assumed that agricultural households may have a mental account for consumption of their self-produced food. Accordingly, they may reserve a certain quantity of self-produced food as a set budget for own consumption, implying that they may keep on consuming their own produce until they have consumed the quantity set for the mental budget. By making the mental accounting assumption, we hypothesized that the consumption of self-produced food is independent of market price. Also, we hypothesized that the consumption of self-produced food is increasing in the quantity of production if production is lower than the set budget, and independent of the quantity of production if production exceeds the set budget. By applying a double-log demand model and using survey data from six poor rural counties in China, we tested these hypotheses for five food items, which are rice, flour, potatoes, pork, and eggs. We found that the hypothesis of no significant effect of price holds for flour, potatoes, and pork if production is lower than the set budget, and for rice, pork, and eggs if production is higher than the set budget. Production has a significant positive effect on consumption of selfproduced food but with a much greater influence when production is lower than the set budget for all five food items. These findings partly support our assumption of mental accounting of self-produced food. Limitations, policy implications, and possible future studies are discussed.
Keywords: mental accounting | food consumption | self-produced food | agricultural household
مقاله انگلیسی
3 Disruption in food supply chain and undernourishment challenges: An empirical study in the context of Asian countries
اختلال در زنجیره تأمین مواد غذایی و چالش های کم غذایی: یک مطالعه تجربی در زمینه کشورهای آسیایی-2021
Undernourishment and associated health issues are some mammoth challenges that the world currently faces. The poorly design food supply chain (FSC) is considered a root cause of high undernourishment cases worldwide. Since all processes and stages in a supply chain are strongly connected, a slight delay or glitch can trigger a butterfly effect resulting in significant socio-economic losses. The FSC is vital to providing human essentials and a source of bread earning; rank at the top in global industries and any disturbance results in high unemployment and leading social evils like crime and violence in society. Recognize the same; this study examines the impact of food supply chain disruption on undernourished cases in selected Asian countries. Using Generalized Methods of Moments (GMM) estimator, this study provides two key findings. First, a higher intensity of COVID-19 cases translates into higher undernourishment due to direct and indirect effects from higher stringency measures. Secondly, government financial allocations to combat COVID-19 and economic growth significantly mitigate the prevalence of undernourishment. Interestingly, a higher crime index is linked with higher undernourished cases supporting the proposition of socio-economic disorder. These results propose broad policy implications for governments, food regulatory authority, donor agencies, and Non-Governmental Organizations by strengthening the food supply chain and thus reduces undernourishment cases.
Keywords: Food supply chain | COVID-19 | Unemployment | Undernourishment | Economic growth | Asian countries
مقاله انگلیسی
4 Internal and external corporate social responsibility activities and firm value: Evidence from the shared growth in the supply chain
فعالیت های مسئولیت اجتماعی شرکت داخلی و خارجی و ارزش شرکت: شواهدی از رشد مشترک در زنجیره تأمین-2021
Despite the long history of corporate social responsibility (CSR) research, few studies have focused on CSR activities related to business partners in supply chains. In this regard, we investigate whether internal (or backward) CSR enhances firm value. Using an index from the Korea Commission for Corporate Partnership, which indicates whether a firm shares its profits with business partner companies, we find that firm value increases as this backward CSR increases. Further, after controlling for internal CSR, firms engaged only in external CSR have lower firm value than non-CSR firms. Interestingly, we find that firms involved in both internal and external CSR have higher value. Overall, by showing that internal CSR is a core activity that enhances firm value, our study provides policy implications for the regulatory bodies of different countries. Copyright © 2021, Borsa I_stanbul Anonim S¸ irketi. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).JEL classification: M14; M48
Keywords: Internal CSR | External CSR | Firm value | Supply chain | Shared growth
مقاله انگلیسی
5 Persistent current account imbalances: Are they good or bad for regional and global growth?
عدم تعادل حساب جاری مداوم: آیا آنها برای رشد منطقه ای و جهانی خوب یا بد هستند؟-2021
This paper examines the regional and global growth effects of current account imbalances in Japan, Germany, and the People’s Republic of China (PRC)—the three largest persistent surplus countries—and the United States and United Kingdom, the two largest persistent deficit countries. Controlling for a set of macroeconomic determinants, we use a structural vector autoregression (SVAR) framework to show that positive shocks to current account balances in the PRC, Germany, and Japan transmit positive regional and global growth effects, particularly in the case of spillovers to regional growth from Japan. As expected, the global growth response is lower in magnitude than the regional growth response. In addition, the extent of the effect is amplified by global value chains, pointing to the significant role played by trade in intermediate goods. For current account deficit countries, the magnitudes of the responses of growth to shocks are much lower on average than in the case of current account surplus countries. We find some marginal positive effects on regional and global growth emanating from a positive shock on the UK current account—i.e., a reduction in the deficit. For the US, a positive shock to its persistent current account deficit marginally drags on global growth, possibly reflecting declining import demand and wealth effects linked to the US dollar’s status as the global reserve currency. Our findings have important policy implications, particularly in light of discussions in recent years on whether current account surplus countries are hindering growth abroad.
keywords: عدم تعادل حساب جاری | عدم تعادل اقتصاد کلان | رشد اقتصادی | Current account imbalances | Macroeconomic imbalances | Economic growth
مقاله انگلیسی
6 Introducing an aflatoxin-safe labeling program in complex food supply chains: Evidence from a choice experiment in Nigeria
معرفی یک برنامه برچسب زدن بدون آفلاتوکسین در زنجیره های تأمین مواد غذایی پیچیده: شواهدی از یک آزمایش انتخاب در نیجریه-2021
Food contaminated with aflatoxins is one of the more prominent food safety issues facing developing countries. These toxins impose an immense burden on countries that have to deal with the repercussions of the contamination. Repercussions include increased public health concerns, increased health care expenditures, and other economic tolls. To alleviate these food safety concerns, the implementation of aflatoxin-safe certification can potentially incentivize and elevate food safety standards. This study uses a discrete choice experiment approach to assess if traders are willing to pay a price premium for aflatoxin-safe maize and whether such a premium varies across their market channels. Results indicate that maize traders who sell to other traders, large feed mills, food companies, and retailers exhibit a higher willingness to pay (WTP) for aflatoxin-safe certification compared to those who sell to small feed mills and consumers. Relevant policy implications are discussed.
Keywords: Aflatoxin contamination | Aflatoxin safe certification | Traders preferences | Traders willingness to pay | Maize, Nigeria
مقاله انگلیسی
7 Current account (im-)balances – Determinants and policy implications
(عدم) مانده حساب جاری - عوامل تعیین کننده و پیامدهای سیاست-2021
From October 24 to 25, 2019, the Centre for European Policy Studies hosted the Jean Monnet Workshop on ‘‘Current Account (Im-)Balances - Determinants and Policy Implications” in Brussels in close collaboration with the journal ‘‘Journal of International Money and Finance.” This special issue presents a peer-reviewed selection of the papers presented at this conference.
مقاله انگلیسی
8 Exploring knowledge management perspectives in smart city research_ A review and future research agenda
بررسی دیدگاه های مدیریت دانش در تحقیقات شهر هوشمند بررسی و برنامه تحقیقاتی آینده-2021
There is a growing body of literature calling for work on the emerging role of smart cities as information hubs and knowledge repositories. This article reviews the existing smart city literature and integrates knowledge management perspectives to provide an overview of future research directions. By demonstrating the multistakeholder relationships involved in smart city development, it takes a crucial step towards looking into the role of knowledge management in future smart city research. Eighty-two peer-reviewed publications were analyzed covering smart city studies in various research domains. The systematic review identifies five different themes: strategy and vision, frameworks, enablers and inhibitors, citizen participation, and benefits. These themes form the basis for developing a future research agenda focused on knowledge sharing and co-learning among cities via three research directions: socio-technical approaches, knowledge sharing perspectives and organizational learning capabilities. The paper also proposes a series of knowledge-driven policy recommendations to contribute towards the UN Sustainable Development Goals.
keywords: مدیریت دانش | شهرهای هوشمند | بررسی ادبیات | پیامدهای سیاست | Knowledge management | Smart cities | Literature review | Policy implications
مقاله انگلیسی
9 Discrepancy originated from intensity vector in embodied energy accounting
اختلاف ناشی از بردار شدت در حسابداری انرژی تجسم شده است-2021
Global climate change has made human pursuit of sustainable development goals more urgent and specific, with increasing studies focused on environmental embodiment or footprint issues. As a key link in embodied energy accounting, energy intensity vector has received little attention although its variants can lead to huge discrep- ancies in interpreting results and the corresponding policy implications. This work performs a comparative study to inform the choice of energy intensity vector in input-output modelling. We construct 4 energy intensity vectors varying from methodology and data source, and compare their performances in terms of sectoral and regional responsibility, energy embodied in international trade both in an original and uniform framework. It is concluded that the choice of energy intensity is a process of determining system boundary, and trade-off should be made between detailed actual energy flow and implication about energy-economy nexus. Energy sectors dominate the generation of intensity vector, processing of exogenous energy data, especially the part from household direct use and transformation efficiency loss may cause a huge accounting deviation. Although different vectors may give varying sectoral embodied energy, the discrepancy in regional total, in particular, consumption-based accounting is much less. Our discussion can be further applied to other embodied resource accounting or environmental extension.
keywords: گسترش انرژی | انرژی تجسم یافته | ورودی-خروجی توسعه یافته محیطی | ردپای انرژی | چند منطقه ای | چین | Energy extension | Embodied energy | Environmentally extended input-output | Energy footprint | Multi-regional | China
مقاله انگلیسی
10 Macroeconomic and policy implications of eurobonds
پیامدهای اقتصاد کلان و سیاست اوراق قرضه اروپایی-2020
This article explores the controversial subject of Eurobonds, by analyzing their economic consequences in an asymmetric monetary union like the Eurozone, where countries differ in size and policy preferences. We thus build a two-country monetary union DSGE model to compare three scenarios of government debt issuance: i) countries issue their own sovereign bonds (the baseline scenario is given the label “National bonds”); ii) countries issue common sovereign bonds without any limitations on the amount they can borrow (this scenario is labelled “Eurobonds”); and iii) there is a cap on the issuance of Eurobonds by each country so that the joint liability is limited (we call this scenario “Limited Eurobonds”). Assuming that a country decides to increase public spending and cares little about debt stabilization, we find that the spending multiplier would be the highest with Eurobonds and the lowest with Limited Eurobonds. The spillover effects on output in the rest of the union would be negative with Eurobonds but positive with Limited Eurobonds. The positive trade channel of the spillover effects is reinforced while the negative financial channel is reduced in the latter scenario. From the perspective of the monetary union as a whole, Limited Eurobonds could bring about higher overall output and produce larger benefits for aggregate household welfare depending upon country size. Altogether, our findings support the case for limited joint liability, especially when the public spending shock originates from a country which is smaller than the rest of the union, but not too small.
Keywords: Eurobonds | “coronabonds” | Sovereign debt | Spillovers | Monetary union
مقاله انگلیسی
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