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Abstract - Republics and Monarchies: A Differential Analysis of Economic Growth Link
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Abstract: This paper examined whether a significant difference in economic growth exists between constitutional monarchies and republics. A review of political economy philosophies does indicate that government is the foundation of economic development. However the type of government that best nurtures economic growth remains contentious. The paper inclines on political economy philosophies of John Locke and Thomas Hobbes and blends with the capital growth theory of Milton Friedman. The paper applied a theoretical review and a brief empirical analysis approach. This paper contributes by providing empirical support to anecdotal assertions that economic growth may not only depend on government type (constitutional monarchy or republic), but on the efficacy of government. In addition, whilst previous researchers have largely used time series data, this paper brings a nuance by using cross sectional data, which is devoid of fluctuations. Data from forty eight countries of the world were used to compare democracy and monarchy regimes with their levels of economic growth measured by GDP per capita. Applying both Chi-square, t-test of difference and graphical analysis, results show a P-value of more than 0.05 in both the Chi-square and t-test statistics, which provides an empirical support of lack of significant relationship between governance type (constitutional monarchy or republic) and economic growth. Albeit lack of significance, the ‘mean GDP’ is slightly higher for monarchy countries than in republic countries. Similarly, the variance statistic (a measure of instability) is lower for constitutional monarchies and higher for republics, indicating that constitutional monarchies appear more economically stable than republic countries. Based on the findings, the paper provides a framework for further research. It also recommends future research agenda to explore this phenomenon by including absolute monarchies and autocratic regimes in an empirical setting and to use a current cross sectional data devoid of fluctuations. The paper provides practical recommendation that being a republic is not a sufficient panacea for economic growth if the excesses that retard growth are left unbridled, these includes inter alia undue interference that obscures economic certainty for investors. Keywords: Democracy, economic growth; economic stability, monarchy and Republic. |
Abstract - Resource and Environmental Insecurity in the Lake Chad Region
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Abstract: Geography has become a major determinant of geopolitics. The nature of a country’s geography has direct influence on the foreign policy posture of the said country. A state naturally does not live in isolation hence it cannot be separated from the direct and indirect influence of neighbouring countries. This study is focused on the Lake Chad environment and the insecurity therein. This study focused on the push and pull effect of resources, insecurity and diplomacy in the Lake Chad environment. It found that agriculture was badly affected following the recession of the Lake Chad. Again, the mass migration of the people to the Lake Chad and their inability to eke-out a living there as well as national insecurity due to Chadian Civil War, Cameroonian Civil War and Islamism insurgency caused widespread irregular migrations into neighbouring countries. The study recommends increased multi-lateral engagements aimed at managing and transforming the deteriorating Lake Chad environment that has become overtaken by insecurity and resource depletion. Keywords: Resource, insecurity, environment, diplomacy & Lake Chad. |
Abstract - Retroeconomics – Moving from Dying to Brisk Economy
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Abstract: The paper offers a new concept of the technological backwardness in many, mostly in poor countries – the retroeconomics. The goal of the research is to set out the main reasons why in many (and first of all in poor) countries the economies used obsolete technologies. Such countries are getting to into the trap of technological dependency on the economically developed countries. The feasible tools for a technological leap from such dependency are discussed. The main threat of the preservation of the retroeconomy – its zombification is discussed as a main barrier for technological updating of economy, and in general as an obstacle for Schumpeterian creative destruction. Much importance is given to the key principle of bankruptcy procedures against zombified retro-firms. The bankruptcy legislation should ensure the timely liquidation of non-viable firms. A country’s legislative framework should strive for the establishment of a sound legal space on the market, when only really viable firms will exist. The role of the government is very important to resolve the problem of the technological backwardness. Keywords: Necroeconomy, Zombie-economy, Retroeconomy, Technological Backwardness, Bankruptcy. |
Abstract - Results-Based Monitoring and Evaluation and Knowledge Management Approaches in Government to Government Partnerships: The Case of the Shandong and WCG Partnership
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Abstract: Government to Government (G2G) partnerships between countries in the BRICS partnerships have significantly increased and with it, the need for more effective evidence-based decision-making. In this process, improved M&E and KM has become prominent. In this context, the study investigated the need for Monitoring & Evaluation (M&E), as well as knowledge management (KM) systems in partnerships. This study focused on the development management aspects of such partnerships and the article is based on research information obtained through the PhD study by Dr Ivy Chen as well as updated research perspectives. Keywords: Monitoring and Evaluation (M&E), G2G Partnership, Knowledge Management (KM), Evidence-based decision making, Theory of Change (ToC). |
Abstract - Review of the Causes of 1907 Panic and Aftermath
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Abstract: The Panic of 1907 is often known as the Panic that initiated the development of the Federal Reserve System (Bordo, 1985). The Panic of 1907 was “The beginning of the end of unregulated capital markets and banking system without the lender of the last resort in the United States.” (Fohlin, Gehrig and Haas, 2015, page 2). Numerous causes lead to the Panic of 1907 including: shadow banking, the San Francisco earthquake and fire, stock price manipulation, seasonal agriculture fluctuations, an outflow of gold, and higher interest rates. This paper reviews the primary literature on these causes, and how they led to the Panic of 1907 and the subsequent regulations culminating in the Federal Reserve Bank. Keywords: 1907 Panic, Shadow Banks, NY Clearing House, 1906 San Francisco Earthquake and Fire "Silent Crush". |