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Abstract - Does Foreign Aid Cause “Dutch Disease”?: Case of Cambodia, Lao PDR, Myanmar and Vietnam
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Abstract: This paper examined the economic impacts of foreign aid from the Dutch-Disease perspective, focusing on the economies of Cambodia, Lao PDR, Myanmar and Vietnam (so-called CLMV). The CLMV were targeted in this study since they have rarely been studied in the literature in this field although their economies have still depended highly on foreign aid. We found no evidence that they have suffered from the Dutch Disease, or rather identified a positive production effect of foreign aid. We speculate that the major use of foreign aid in the CLMV has focused on economic infrastructure, which has given little room for raising consumption and contributed directly to capital accumulation there. Keywords: Foreign Aid, Dutch Disease, CLMV, ODA, Tradables and Non-Tradables, Capital Accumulation.Download Full Article |
Abstract - Does High Unemployment Rate Cause High Suicide Rate? Evidence from Japan and South Korea
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Abstract: This study utilizes an asymmetric Granger causality test suggested by Hatemi-J (2012) to examine the causal relationship running from unemployment rate to suicide rate over the period of 1985 to 2012 in Japan and South Korea. Empirical results show that no Granger causality running from unemployment rate to suicide rate exists in Japan. However, results show that for South Korea,Granger causality exists running from a negative unemployment rate shock to a negative shock in suicide rate. More specifically, a decrease in unemployment rate leads to a decrease in suicide rate. Although the findings of this study do not support that an increase in unemployment rate has led to an increase in suicide rate for Japan and South Korea,a decrease in unemployment rate leads to a decrease in suicide rate in South Korea. Therefore, policy makers in South Korea could decrease unemployment rateto causea decrease in suicide rate. Keywords: Asymmetric Granger causality test, Unemployment rate, Suicide rate.Download Full Article |
Abstract - Early Macro Divergence from Micro: Keynes vs Hayek, Fisher and Friedman
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Abstract: The paper presents facts and theory of the Great Depression that led to the clash of the Neoclassical ideas of Fisher and Hayek with the new interventionalist concept of Keynes. The Keynesian Cross arose to explain how government could create new investment and allow the economy to rise from Depression. Fisher and Hayek instead emphasized banking and monetary policy with "reflation" of price stabilization, upon which Friedman built. The Great Recession policy today echoes more firmly the ideas of Fisher and Hayek in avoiding another depression. Keywords: Debt-deflation, money supply, government spending, currency to demand deposit ratio.Download Full Article |
Abstract - Does Subsistence Farming Ameliorate Hunger in Urban Areas? A Quantitative Examination of Urban Areas in South Africa
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Abstract: Africa, with its growing urban population, faces the problem of increased demand for food in urban areas and pressure on urban food systems. Lack of employment opportunities, rising levels of urban poverty and food costs further compounds the urban food problem resulting in high levels of urban hunger and consequently food insecurity. Using the General Household Surveys from 2015 to 2017, we examine the association between subsistence farming practices and hunger in urban South Africa. We estimate three models for hunger at the household level; child hunger, adult hunger and hunger in either adult or child. The findings reveal that female-headed households are more likely to engage in subsistence farming. Women, children and the unemployed are at risk of hunger. We find no association between subsistence farming and hunger in urban areas. Measures of economic welfare; incomes, employment and a household member receiving a social grant are significantly associated with the absence of hunger. The results point to the fact that new urban residents as a matter of necessity need the means to earn an income as this is critical in safeguarding them from hunger. Keywords: Hunger, subsistence farming, urban agriculture, food security, urbanisation. |
Abstract - Eco-Economic Systems of Russian Agriculture: Statistical Analysis
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Abstract: Over the recent 25 years Russia has experienced economic transformations that significantly have changed the impact of business activities on the state, structure, quality and use of natural resources: an annual decrease in the sizes of agriculturally used areas, reduction of soil fertility, destruction of the amelioration system, etc. Certainly, all this affects the economy and makes it necessary to investigate these interrelated processes in the context of an ecological-economic system. The article presents a multilateral statistical analysis of the eco-economic system of Russia, offers recommendations for improvement of the indicator system, analytical methodologies as well as proposals for implementation of the international standards into Russian statistics. It is emphasized that the asset value accounting philosophy should be developed on the basis of the specific nature of Russian statistics with application of the international practices. The article offers to start developing the macroeconomic accounts from the municipal level and then to aggregate the information at the level of a region and the country. Keywords: Eco-economic system, natural environment, agriculturally used areas, natural resource and economic accounting. |