| 271. |
- Tausch, Arno, et al.
(author)
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Re-Orient? Understanding Contemporary Shifts in the Global Political Economy
- 2011
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In: Journal of Globalization Studies. - 2075-8103. ; 2:2, s. 89-120
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Journal article (peer-reviewed)abstract
- This article analyses the logic of the current global economic crisis by using the IMF estimates of economic growth in 180 countries (IMF 2009), and links the results to the ‘Re-Orient’ approach, put forward by Frank (1998). With global economic gravitation shifting to the Indian Ocean / Pacific region, the article also analyses the role of MNC (foreign capital) penetration as the key variable of past quantitative dependency studies for contemporary economic growth and social performance. In a Schumpeterian fashion, MNC penetration reflects the power, which transnational oligopolies wield over local economies. Today, social polarization and stagnation increase as a consequence of the development model, based on high MNC penetration.
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| 272. |
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| 273. |
- Tausch, Arno, et al.
(author)
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The effects of globalization on the environment
- 2018
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In: UKH Journal of Social Sciences. - : University of Kurdistan Hewlêr. - 2520-7806. ; 2:1, s. 25-40
-
Journal article (peer-reviewed)abstract
- In multiple standard OLS regression models, we test the effects of 26 standard predictor variables, including the ‘four freedoms’ of goods, capital, labour and services, on the following indicators of sustainable development: avoiding net trade of ecological footprint gha per person, Carbon emissions per million US dollars GDP, CO2 per capita, Environmental Performance Index (EPI), Global footprint per capita, Happy Life Years, Happy Planet Index, and ln (number of people per mill inhabitants 1980-2000 killed by natural disasters per year+1). Our research shows that the apprehensions of quantitative globalization critical research are fully vindicated by the significant negative environmental effects of the foreign savings rate. High foreign savings are indeed a driver of global footprint, and are a blockade against a satisfactory Happy Planet Index performance. The New International Division of Labour (NIDL)-model (Froebel et al., 1980) is one of the prime drivers of high CO2 per capita emissions. MNC penetration, the master variable of most quantitative dependency theories, blocks environmental performance (EPI-Index) and several other socially important processes. Worker remittances have a significant positive effect on the Happy Planet Index, and Happy Life Years.
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| 274. |
- Tausch, A., et al.
(author)
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The effects of multinational corporation (MNC) penetration on the global political economy. A re-analysis of a recur-rent sociological proposition with contemporary data
- 2012
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In: Sociológia (Bratislava). - 0049-1225 .- 1336-8613. ; 44:3, s. 314-347
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Journal article (peer-reviewed)abstract
- In this essay we reconsider the effects of direct foreign investments on the host countries around the globe. A number of sociological analyses (Bandelji 2009; Mahutga - Bandelji 2008), already applied such a question to Central and Eastern Europe (CEE). Is the growing penetration of host countries of multinational investment heralding the promised gains of stable economic growth and social cohesion, or is social polarization around the corner instead? In our re-analysis with contemporary data of one of the most influential essays ever published in international sociology (Bornschier - Chase-Dunn - Rubinson 1978), which predicted that direct foreign investment would increase economic inequality and that it would have a short-term dynamic, but a long-term stagnation effect on the economic growth of the host countries (Bornschier - Chase-Dunn - Rubinson 1978: 651), we re-confirm the main thrust of the sceptical hypotheses on multinational corporation (MNC) penetration. We also show that on the global level and in the 183 countries analysed there is indeed a very strong connection between foreign capital penetration in the mid-1990s on the one hand and rising inequality, deficient life expectancy, rising unemployment, and a deficient under five mortality rate in the first decade of the new Millennium on the other. Economic growth in the contemporary period (2010) is also being determined negatively by the long-term effects of multinational corporation penetration in the mid-1990s, while in the period between 1990 and 2005 the effect was positive. We thus confirm that the approach, established by Bandelji 2009 and Mahutga and Bandelji 2008, is a valid one, and can be generalized on a global level.
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| 275. |
- Tausch, A., et al.
(author)
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Worker remittances and the global preconditions of ’smart development’
- 2013
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In: Society and Economy. - 1588-9726 .- 1588-970X. ; 35:1, s. 25-50
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Journal article (peer-reviewed)abstract
- With the growing environmental crisis affecting our globe, ideas to weigh economic or social progress by the ’energy input’ necessary to achieve it are increasingly gaining acceptance. This question is intriguing and is being dealt with by a growing number of studies, focusing on the environmental price of human progress. Even more intriguing, however, is the question of which factors of social organization contribute to a responsible use of the resources of our planet to achieve a given social result (’smart development’). In this essay, we present the first systematic study on how migration-or rather, more concretely, received worker remittances per GDP-helps the nations of our globe to enjoy social and economic progress at a relatively small environmental price. We look at the effects of migration on the balance sheets of societal accounting, based on the ’ecological price’ of the combined performance of democracy, economic growth, gender equality, human development, research and development, and social cohesion. Feminism in power, economic freedom, population density, the UNDP education index as well as the receipt of worker remittances all significantly contribute towards a ’smart overall development’, while high military expenditures and a high world economic openness are a bottleneck for ’smart overall development’.
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| 276. |
- Tigre, Getu, et al.
(author)
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Smallholder farmers’ crop production and input risk analysis in rural Ethiopia
- 2023
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In: Applied Economics. - : Taylor & Francis. - 0003-6846 .- 1466-4283. ; 55:6, s. 671-689
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Journal article (peer-reviewed)abstract
- Different types of risks are inherent in agricultural production. This study examines agricultural input risks faced by smallholder farmers in rural Ethiopia. It uses data from farm household surveys covering the period 1995?2015. The study uses a stochastic production function approach for estimating the mean production and risks of agricultural inputs. The mean production estimation results are consistent with the economic theory of conventional inputs. Land and labour have higher elasticities than the other inputs. The variance or risk estimation results show that fertilizers and labour are risk-decreasing inputs, while land is a risk-increasing input. Crop diversification has a risk-decreasing impact. The more farmers diversify their crops, the less is the yield variability. However, the risk variation effects of farm inputs vary across regions in the country. For example, risk-decreasing effects of fertilizers are high in the Oromia region, moderate in the Southern Nations and Nationalities and low in the Amhara regional state. Variations in regional input risks need to be considered in national agriculture risk management and food security efforts. The risk variation effects of these inputs decreased over time.
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| 277. |
- Tsionas, M., et al.
(author)
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Effects of the vaccination and public support on covid-19 cases and number of deaths in Sweden
- 2023
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In: Operational Research. - : Springer. - 1109-2858 .- 1866-1505. ; 23:3
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Journal article (peer-reviewed)abstract
- There are large variations between and within countries’ performance in coping with the Covid-19 pandemic. This study assesses the efficiency of different provinces in Sweden in managing the pandemic. Its objective to estimate the relative efficiency of provinces during the pandemic and identify the key determinants of the level and variations in their performance. Performance is measured as efficiency in keeping the number of negative outcomes low and the number of positive outcomes high for given resources. It uses a parametric distance function approach with multi-input, multi-output, and a flexible functional form for estimating the provinces’ efficiency and the variations in this efficiency over time. Variations in their performance are attributed to the observable characteristics of their socioeconomic, locational, demographic, and healthcare resources. The empirical part is based on a panel data of the population in 21 provinces observed on a weekly basis from January 2020 to September 2021. In particular, the paper estimates the effects of public support and vaccinations on a reduction in the number of deaths and the spread of new cases. The level and variations in outcomes are explained by various provinces and local and national policies. The results show large variations in provinces’ performance and their persistence/transitory nature attributed to their observable characteristics. The paper suggests some policy recommendations to help cope with the threat of the pandemic post the removal of restrictions.
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| 278. |
- Tsoy, Lyubov, et al.
(author)
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Impact of financial crises on the dynamics of capital structure : Evidence from Korean listed companies
- 2023
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In: Singapore Economic Review. - : World Scientific. - 0217-5908. ; 68:3, s. 867-898
-
Journal article (peer-reviewed)abstract
- This study examines the impact of the 1997 Asian financial crisis and the 2008 Global economic crisis on the capital structures of Korean non-financial listed companies. Using a panel data covering 1,159 Korean listed non-financial firms from 10 industrial sectors over a 31-year period (1985-2015), this study investigates the patterns of firms' capital structures before and after the crises and identifies their speeds of adjustment toward the optimal leverage. This study finds different effects of the two crises on both capital structures and adjustment speeds. The average debt ratio fell significantly after the 1997 Asian financial crisis. The distance between the optimal and the observed debt ratios shrank after the Asian crisis, while the speed of adjustment increased two-fold. Unlike the Asian financial crisis, the global economic crisis of 2008 had a positive effect on companies' debt ratios and the speeds of adjustments toward the optimal leverage. Our empirical analysis shows that, on average, the Korean non-financial listed companies decreased their debt ratios over the entire period of observation, with the leverage being the highest before the Asian financial crisis and lowest after the global economic crisis. Our results also show that the debt ratios of Korean chaebols were higher than that of non-chaebols. Moreover, we find that the high level of leverage of Korean firms was associated with tangible assets, income variability, size and age of the firm, non-debt tax shield and uniqueness.
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| 279. |
- Tsoy, L., et al.
(author)
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Is FDI inflow bad for environmental sustainability?
- 2023
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In: Environment, Development and Sustainability. - : Springer. - 1387-585X .- 1573-2975.
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Journal article (peer-reviewed)abstract
- In the last few years, discussions and debates around environmental sustainability have become a key goal of the global agenda. This is because the latest studies and our direct experiences of the consequences of environmental degradation and climate change are showing that economic models need some urgent changes. The goal of this paper was to investigate the effects of foreign direct investment (FDI) flow on environmental sustainability globally. The balanced panel data of 100 countries from 2000 to 2020 were used for empirical analysis to understand the relationship between FDI inflow and environmental performance index (EPI) for countries with different income levels. The estimation is made using the two-step system GMM model as it gives more robust and efficient results in this study. The results of the dynamic panel model do not support the pollution haven hypothesis, i.e., FDI inflow was not found to have any statistically significant effect on EPI. The findings of the paper suggest that to improve environmental quality globally, it is important for governments to invest more in renewable energy projects as clean energy consumption can be one of the most efficient solutions for reducing the impact of climate change. Moreover, countries need to reduce the unemployment rate as it significantly improves the environmental quality according to our estimation results.
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| 280. |
- Umulisa, Yvonne
(author)
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The prospects for the East African Monetary Union : An empirical analysis
- 2020
-
Doctoral thesis (other academic/artistic)abstract
- This thesis operationalizes the theory of optimum currency areas, which describes the preconditions (criteria) that countries must fulfill prior to forming a monetary union. In light of the different dimensions of the theory that are examined, the empirical findings from the four papers in this thesis seem to favor forming a monetary union among East African Community (EAC) partner states. Hence, the findings are important for EAC policymakers, as they decided to participate in a monetary union by 2024.The first paper uses a gravity model to determine to what extent membership in the EAC has affected intraregional trade. One common argument is that if there is not much trade between EAC member countries, there is no interest in forming a monetary union. The paper implements the fixed effect filter estimator, which uses a two-step approach and has better performance than the standard fixed effect estimator. The empirical findings in this paper show that EAC membership has a positive and significant effect on intra-trade among member countries. The second paper investigates business cycle synchronization and core-periphery patterns. Greater synchronization is needed for an easy transition towards monetary union. Unlike previous studies, this paper uses wavelet decomposition, a powerful tool for analyzing the comovement of business cycles. It is found that business cycle synchronization is more significant for Kenya, Tanzania, and Uganda, the countries that also form the core of the East African Monetary Union.The link between business cycle synchronization and trade intensity among EAC countries is established in the third paper. This analysis is relevant, as it is associated with the hypothesis of the endogeneity of the optimum currency area criteria, whereby a monetary union among member countries is predicted to increase trade among them, which, in turn, may lead to more synchronized business cycles. The empirical findings show that trade intensity among the considered countries has indeed led to more synchronized business cycles, suggesting that monetary union among EAC countries may be beneficial.Moreover, the fourth and last paper uses a similarity index and a rank correlation measure, Kendall’s tau, to investigate the movement of inflation rates among EAC countries. The results show that changes in inflation have become more similar over time and that there are high correlations between EAC countries. This paper also investigates the convergence in inflation rate levels among the EAC countries. It is found that these levels have tendency to converge. These findings favor the formation of a monetary union among these countries.
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