Number of results to display per page
Search Results
82. Reward Work, Not Wealth: To end the Inequality Crisis, We Must Build an Economy for Ordinary Working People, not the Rich and Powerful.
- Author:
- Diego Alejo Vazquez Pimentel, Max Lawson, and Inigo Macias Aymar
- Publication Date:
- 01-2018
- Content Type:
- Policy Brief
- Institution:
- Oxfam Publishing
- Abstract:
- Last year saw the biggest increase in billionaires in history, one more every two days. This huge increase could have ended global extreme poverty seven times over. 82% of all wealth created in the last year went to the top 1%, and nothing went to the bottom 50%. Dangerous, poorly paid work for the many is supporting extreme wealth for the few. Women are in the worst work, and almost all the super-rich are men. Governments must create a more equal society by prioritizing ordinary workers and small-scale food producers instead of the rich and powerful.
- Topic:
- Gender Issues, International Trade and Finance, Food, Health Care Policy, Inequality, Economic Growth, Tax Systems, and Supply Chains
- Political Geography:
- Global Focus
83. Redefining Liquidity for Monetary Policy
- Author:
- Kyunghun Kim, Il Houng Lee, and Won Shim
- Publication Date:
- 01-2018
- Content Type:
- Working Paper
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- This paper proposes a monetary aggregate “Liquidity” that could serve as a useful indicator for gauging the appropriateness of monetary policy. If liquidity rises above a certain threshold, it is signaling that monetary policy is losing traction due to structural and other impediments even when the inflation gap remains open. This indicator supplements the financial cycle approach but adds value by providing a benchmark that is derived from the national account, and not based on its own trend. Over the last two decades, each time this measure rose above the threshold range, it was followed by a decline in GDP growth. The latter was greater when accompanied by a high physical asset value to GDP, e.g., an elevated property market.
- Topic:
- Monetary Policy, GDP, Economic Growth, Property, and Liquidity
- Political Geography:
- Asia, Korea, and Global Focus
84. KNOWLEDGE ECONOMY PYRAMID: Transforming Knowledge Value in Increasing Productivity and Competitiveness
- Author:
- Octavian Serban
- Publication Date:
- 12-2018
- Content Type:
- Special Report
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- The global economy’s landscape needs a new economic model where knowledge is used as a valuable resource to stimulate innovation, creativity, and entrepreneurship in order to increase productivity and competitiveness for sustainable growth as a premise for social welfare. The policymakers have to design the new public policy for productivity and competitiveness considering the Knowledge Economy frontier and to establish the institutional capacity to manage the knowledge perspective of development. The Knowledge Economy Pyramid model is a catalyst of knowledge ecosystems from education, research, technology, business, innovation, government and local communities, capable to create a collaborative environment with synergy effect: transforming knowledge value in increasing productivity and competitiveness. The Knowledge Economy Pyramid is a robust framework based on the four pillars of Knowledge Economy with three effective and powerful structures build upon: Knowledge Triangle, Triple Helix, and Smart Specialization. The main axis which unifies these structures is education-business and all the other stakeholders from research, science, technology, government, administration, clusters, and community are equal contributors to process the knowledge along the central shaft. Considering the Knowledge Economy Pyramid model, this research work is defining the coordinates of the public policy for productivity and competitiveness which will be implemented by the institutional capacity – Productivity and Competitiveness Center. This institution is a concrete and accurate representation of the Knowledge Economy Pyramid model with the scope to implement the principles of Knowledge Economy to increase productivity and competitiveness as outputs of the process. Moreover, the capacity building will provide the premises to conclude the new public policy into outcomes: standard of living, well-being, quality of life, and green growth. Knowledge Economy Pyramid provides a toolkit for policy/decision- makers to take action in order to improve the activity at any stage of development or maturity for an economy or institution related with productivity and competitiveness and it is able to measure the gap between actual development level and the knowledge edge. From an economic perspective, to analyze the concepts of productivity and competitiveness in Knowledge Economy, this study is a very complex work where the tangible is mixed with the intangible, human with technology, economic growth with people prosperity. This study is a “one-stop shop” for all the policy/decision-makers, leaders, representatives, officials, professors, researchers, specialists and practitioners, all engaged in the work to transform the traditional economic model into a new one, according to the Knowledge Economy Pyramid framework.
- Topic:
- Economic Growth, Innovation, Strategic Competition, Knowledge Production, Productivity, Knowledge Economy, and Specialization
- Political Geography:
- Global Focus
85. Volume 68 Issue 2
- Author:
- Haluk Alkan
- Publication Date:
- 06-2018
- Content Type:
- Journal Article
- Journal:
- Istanbul Journal of Economics
- Institution:
- Istanbul University Faculty of Economics
- Abstract:
- Istanbul Journal of Economics-İstanbul İktisat Dergisi is an open access, peer-reviewed, scholarly journal published two times a year in June and December. It has been an official publication of Istanbul University Faculty of Economics since 1939. The manuscripts submitted for publication in the journal must be scientific and original work in Turkish or English. Being one of the earliest peer-reviewed academic journals in Turkey in the area of economics, Istanbul Journal of Economics-İstanbul İktisat Dergisi aims to provide a forum for exploring issues in basicly economics and publish both disciplinary and multidisciplinary articles. Economics is the main scope of the journal. However, multidisciplinary and comparative approaches are encouraged as well and articles from various social science areas such as sociology of economics, history, social policy, international relations, financial studies are welcomed in this regard. The target group of the journal consists of academicians, researchers, professionals, students, related professional and academic bodies and institutions.
- Topic:
- Economics, International Political Economy, Foreign Direct Investment, Economic Growth, Political Science, and Banking
- Political Geography:
- Turkey and Global Focus
86. Digital payments in transportation can help developing cities drive economic growth
- Author:
- Ammar A. Malik
- Publication Date:
- 12-2018
- Content Type:
- Commentary and Analysis
- Institution:
- Urban Institute
- Abstract:
- Over the next decade, cities in developing markets will drive global economic expansion. McKinsey predicts that 440 cities in emerging markets will generate half of all growth through 2025. To realize the potential of urbanization, developing cities need to become denser, easier to navigate, and more adept at using data to deliver public services. Inefficient public transit has posed a significant challenge to urban areas around the world. 1.2 billion trips are made using public transit every day, but the share of trips via public transit has declined in developing cities from 35.5 percent in 1995 to 23.7 percent in 2012.
- Topic:
- Development, Economic Growth, Cities, and Digital Policy
- Political Geography:
- Global Focus
87. Extending the Economic Freedom of the World Index to the Cold War Era
- Author:
- Ryan Murphy and Robert A. Lawson
- Publication Date:
- 01-2018
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- This article uses newly gathered and available data and autoregressive methods to create an economic freedom index for the 1950s and 1960s for up to 95 countries. The resulting index allows not only for a longer time series but also for a larger sample of countries than has been previously available.
- Topic:
- Economics, History, and Economic Growth
- Political Geography:
- Global Focus
88. Financial Market Integration and Income Inequality
- Author:
- Jae Wook Jung and Kyunghun Kim
- Publication Date:
- 07-2018
- Content Type:
- Working Paper
- Institution:
- Korea Institute for International Economic Policy (KIEP)
- Abstract:
- Benefits of financial market integration include cheaper and alternative op-tions of saving and borrowing for households and entrepreneurs. In the global financial market, asset choices for households widen so that individu-als can manage their idiosyncratic income risk more effectively. On the other hand, financial market integration makes investors who hold foreign assets more vulnerable to global financial shocks. In the recent financial crisis, finan-cial market distress which initially arose in the U.S. had an enormous impact on the peripheral countries. This example shows that the strong shock prop-agation occurs via integrated financial markets. The existing literature shows that financial market integration has a sizable impact not only on business cycles in the short run, but also on economic growth in the long run. However, there has been little attention to income distribution, specifically in related to the financial market integration. In this paper, we fill the void in the literature by focusing on the following two styl-ized facts: income inequality has been exacerbated in most countries over the past two decades, and the financial market has been integrated across coun-tries during the same period. In particular, we answer three research questions to investigate the relationship between the two facts. First, how does financial market integration affect income inequality? Second, how do financial market integration and financial market development interact to change income ine-quality? Third, what components do theoretical model need to explain the interaction effect of financial market development and integration on income inequality? We test hypotheses that the effect of financial market openness on inequality is conditional on the level of domestic financial market development when the financial market opens. An empirical study with panel data comprised of 174 countries for the period 1995-2017 finds that the overall effect of finan-cial integration on income inequality is nonlinear. Financial market integration creates the intensive and extensive margins of credit supply which may de-pend on the development level of financial market disproportionally. This paper uncovers a novel empirical evidence that financial market integration and financial market development interact to change income inequality. When other things are controlled, the effect of financial market integration on in-come inequality depends on financial market development. In a country with underdeveloped financial market, income inequality gets worse as financial market opens. On the other hand, when financial market is highly developed, the effect of financial market openness on income inequality is mostly insig-nificant in a statistical sense. The results are still valid with different measures of financial market development, integration, and income inequality. We check that the results are robust as an endogeneity issue among financial market development and integration is controlled. We also suggest some important structures for the conventional economic model to account for our empirical finding as theoretical implications. Based on these implications, extensions of the conventional small open economy model with financial constraints having suggested components such as het-erogeneous holdings of foreign assets across income and asset levels and entrepreneurial shocks will be necessary to understand an interaction of fi-nancial market openness and domestic market development on the distribu-tion of income in a country. Our finding also echoes that studying an eco-nomic mechanism in which economic growth, financial market outcomes, and inequality are endogenously determined.
- Topic:
- Development, Income Inequality, Financial Markets, Economic Growth, and Integration
- Political Geography:
- Global Focus
89. Economic recovery and inflation
- Author:
- Marek Dabrowski
- Publication Date:
- 04-2018
- Content Type:
- Special Report
- Institution:
- Center for Social and Economic Research - CASE
- Abstract:
- In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed—in particular, the new financial regulations (which led to a deep decline in the money multiplier). However, there are numerous signs in both the real and financial spheres that these pressures are disappearing. The largest advanced economies are growing up to their potential, unemployment is systematically decreasing, the financial sector is more eager to lend, and its clients—to borrow. Rapidly growing asset prices signal the possibility of similar developments in other segments of the economy. In this new macroeconomic environment, central banks should cease unconventional monetary policies and prepare themselves to head off potential inflationary pressures.
- Topic:
- Economics, Monetary Policy, Economic Growth, Inflation, Macroeconomics, and Unemployment
- Political Geography:
- Europe, Global Focus, and European Union
90. The new US tax credits and carbon negative technologies
- Author:
- Tim Flannery
- Publication Date:
- 03-2018
- Content Type:
- Research Paper
- Institution:
- Centre for International Environmental Studies, The Graduate Institute (IHEID)
- Abstract:
- It is no longer possible to achieve the goals of the Paris Climate Agreement – of keeping average global temperatures to ‘well below 2C above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5C1 - without removing large volumes of CO2 from the atmosphere.2 This will involve the development and deployment of carbon negative technologies at the gigatonne scale. Because developmental pathways for such technologies are likely to be decades-long, it is necessary that largescale investment begin now, if we hope to have mature technologies operating at the appropriate scale by 2050.
- Topic:
- Climate Change, Environment, Industrial Policy, Capitalism, Economic Growth, and Global Warming
- Political Geography:
- Global Focus