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111. Aspects of Employment in Ottoman Waqfs Examples of Fatih, Yavuz Selim, and Süleymaniye Waqfs

Author:
Ayşenur Karademir
Publication Date:
06-2024
Content Type:
Journal Article
Journal:
Istanbul Journal of Economics
Institution:
Istanbul University Faculty of Economics
Abstract:
This study examines the role of Ottoman imperial waqfs as employment institutions, focusing on the salary register EV.HMH.1178, prepared for the Fatih, Yavuz Selim, and Süleymaniye waqfs in the early 18th century. By analyzing the administrative and financial oversight documented in this register, the article explores the redistributive functions of these waqfs and their contribution to sustaining long-term social and economic stability. Special attention is given to the intervention of the central office (Sadr-ı Âli Nezareti/Grand Vizier’s Office) through an imperial decree and the classification of employee roles by workplace. This research contributes to the literature on waqfs by providing insights into their employment systems and administrative practices.
Topic:
Economics, History, Employment, Ottoman Empire, and Waqf
Political Geography:
Turkey and Middle East

112. Investigation of Connectedness Effects in the Euro Region: The Case of the Real Estate Prices Index

Author:
Öznur Taşdöken and Hakan Kahyaoğlu
Publication Date:
06-2024
Content Type:
Journal Article
Journal:
Istanbul Journal of Economics
Institution:
Istanbul University Faculty of Economics
Abstract:
Shocks occurring in the housing market among countries using the common currency in the European Union also cause fluctuations in real estate market prices. Therefore, the analysis of the spread and mutual influence of price fluctuations in the real estate market on the economies of countries becomes essential in the implementation of macroeconomic and common monetary policies. In terms of the social and economic impact of the housing market, this information has become the most important source for understanding countries’ investment preferences and price dynamics. Consequently, what initially begins as country-specific shocks in housing markets often evolves into a structure in which these shocks affect housing markets in other countries. Within this framework, the primary objective of this study is to present findings regarding the estimation of parameters related to the interconnectedness of shocks occurring in the housing markets of countries using the single currency of the European Union with other countries’ housing markets.Otherwise, it explores the macroeconomic impacts of countries’ housing markets in the Eurozone due to the mutual interdependence among these countries.The main findings obtained from the study indicate that shocks in the left tail (τ = 0.05) and right tail (τ = 0.95) have a greater impact on connectivity than shocks obtained from median predictions. This demonstrates that relying solely on median-based predictors is not appropriate for examining return transmissions associated with extreme positive/negative events. This is because shocks in the housing market propagate more strongly in the right and left tails than in the median.
Topic:
Economics, European Union, Real Estate, Housing Market, and Interconnectedness
Political Geography:
Europe

113. Financing Innovations – Cameroonian Startups and the Rise of Alternative Funding

Author:
Adeline Nembot, Yollande Meli Tankeu, and Larissa Ntoubia
Publication Date:
09-2024
Content Type:
Working Paper
Institution:
The Nkafu Policy Institute
Abstract:
In Cameroon, startups have always relied on personal resources and bank financing despite their heavy investment requirements. Yet, rigorous collateral and high interest rate requirements limit access to bank loans. As a result in 2021, only 15% of Cameroonian startups had access to formal funding options, while the majority relied on personal savings or informal funding sources (1), such as Informal Saving Groups and Rotating Savings and Credit Associations (ROSCAs). Moreover, according to the Central African Startup Finance Report 2022, funds raised in 2022 by startups in Cameroon remained stable year to year at 7.3 billion francs CFA ($12 million) (2). In 2023, the Africa platform’s report showing the breakdown by country of funds raised by young African startups revealed that Cameroon attracted fewer investors, raising just $4 million, far behind Côte d’Ivoire ($17 million), Senegal ($44 million), Benin ($71 million), Kenya ($88 million), South Africa ($410 million), and Egypt ($640 million) (3). This restricted access hinders startups’ potential to innovate, create jobs, and contribute to economic growth. In this context, there is a need for exploring alternative financing options, which demands a shift from traditional to emergent financing solutions.
Topic:
Economics, Finance, Innovation, and Startup
Political Geography:
Africa and Cameroon

114. The Impact of Access to credit on Women’s Entrepreneurship

Author:
Vera Kum
Publication Date:
09-2024
Content Type:
Working Paper
Institution:
The Nkafu Policy Institute
Abstract:
This article explores how access to credit and financial resources can help women start and grow their businesses. Anchored within the paradigm of women’s entrepreneurship empowerment and social development, we will first examine from the literature some cases of access to credit in women’s entrepreneurship. A brief analysis of the significance of financial accessibility for female entrepreneurship development follows this. Finally, we will suggest some recommendations that can help decision-makers better formulate more inclusive policies to ensure equitability between males and females regarding credit accessibility for women.
Topic:
Economics, Women, Finance, and Entrepreneurship
Political Geography:
Africa

115. Over-Indebtedness in Central Africa: Causes, Consequences, and Reform Strategies

Author:
Stephane Atangana
Publication Date:
10-2024
Content Type:
Working Paper
Institution:
The Nkafu Policy Institute
Abstract:
The CEMAC region is facing a concerning situation of over-indebtedness, exacerbated by external shocks and the volatility of commodity prices. This brief aims to analyze the structural and economic causes of over-indebtedness in CEMAC countries while formulating policy recommendations to improve debt management and enhance economic resilience. Targeted at policymakers, financial institutions, and regional bodies in Central Africa, this work relies on an econometric analysis using a mixed model (Multilevel Random Effects) based on data from 2010 to 2022. Key indicators include external debt and public debt service. The findings reveal a strong dependence on external debt, while fiscal reforms have a limited short-term impact. Structural reforms are essential to reduce debt vulnerabilities. Additionally, regional coordination is recommended to improve debt sustainability through institutional reforms, increased fiscal discipline, and economic diversification. However, this analysis does not account for potential global economic shocks that could affect the region.
Topic:
Debt, Economics, Reform, Diversification, and Financial Institutions
Political Geography:
Africa and Central Africa

116. Illicit Financial Flows in the age of Digitalisation in Africa : Opportunities and Challenges

Author:
Adeline Nembot
Publication Date:
11-2024
Content Type:
Working Paper
Institution:
The Nkafu Policy Institute
Abstract:
In recent years, countries have witnessed the widespread adoption of new digital technologies for financial transactions, including electronic payments, mobile and online banking, e-commerce, cryptocurrencies, and gambling services. African nations are not exempt from these financial activities, particularly illicit ones. In fact, Africa is losing approximately $88.6 billion annually due to illicit financial flows (IFFs), a sum regarded as a significant loss of development opportunities (1). Such circumstances threaten the African Union’s Agenda 2063, which aims to achieve inclusive and sustainable development across the continent (2). Illicit Financial Flows (IFF) occur when money or capital is illegally earned, utilized, and transferred across borders. Typically, this mechanism is employed with the intent to evade taxes related to trade and fiscal records. While digital technologies can be leveraged to investigate, detect, and disrupt these unlawful transfers of funds, the evolving landscape of online business can exacerbate IFFs by enabling the movement of illegal funds to fraudulent e-commerce companies and online enterprises. Therefore, it is essential to examine the extent to which digital technologies can serve as tools to either mitigate or facilitate IFFs in Africa. This article aims to explore the opportunities and challenges presented by digital technologies and digitalization in relation to IFFs in Africa. To accomplish this, I will utilize secondary data sources from existing literature, including articles, books, and reports from international organizations with expertise in this area.
Topic:
Economics, Finance, Digitalization, and Illicit Financial Flows
Political Geography:
Africa

117. Risks and challenges to oil and gas markets in the current Middle East conflict

Author:
Colby Connelly, Emily Stromquist, Karen Young, Yesar Al-Maleki, and Nikolay Kozhanov
Publication Date:
03-2024
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
The Middle East Institute’s (MEI) Program on Economics and Energy cordially invites you to a panel discussion of the war-time threats to energy transit along the Red Sea corridor and to regional production facilities, within the context of broader supply-and-demand dynamics. Since Hamas’ Oct. 7 terrorist attack on Israel and subsequent war in Gaza, hydrocarbon prices have held relatively stable, although attacks by Houthi militants on shipping in the Red Sea could cause long-term market shifts and geographic segmentation. Why have we seen such a low impact on oil prices to date despite profound regional instability? What explains natural gas prices staying at historic lows? Are Gulf oil facilities at risk? What is the outlook for gas production in the Eastern Mediterranean? And how is OPEC considering outside supply competition and near-term demand? To answer these and other questions, MEI has convened five top US and regional energy and geopolitical risk analysts, who include contributors to MEI’s new edited volume Energy Transitions in the Middle East. They will reflect on their assessments of oil and gas markets prior to Oct. 7 as well as share their views on the current risks and challenges for fossil fuel producers in the region.
Topic:
Economics, Markets, Oil, Energy, and Natural Gas
Political Geography:
Middle East, Yemen, Gaza, and Red Sea

118. Contractual Origins of Anti-Americanism: Pew 2013 Results

Author:
Cem Birol
Publication Date:
07-2024
Content Type:
Journal Article
Journal:
All Azimuth: A Journal of Foreign Policy and Peace
Institution:
Center for Foreign Policy and Peace Research
Abstract:
Economic Norms Theory (ENT) implies that anti-modernist and anti-market values flourish in countries where the central authority poorly monitors contracts that bind economic transactions. Decades of research show that ENT astutely predicts civil war and interstate war incidents, as well as people’s support for war, and suicide bombing in defense of Islam. This paper investigates the association between contract enforcement and anti-Americanism, which is the ENT’s core, yet is a statistically under-evaluated implication. Accordingly, in countries with poor economic contract monitoring, power-contending elites can attribute the resultant loss of prosperity to the USA and relatedly spread anti-American values among citizens. It is the urban poor who are cognitively most available to adopt such elite-driven anti-Americanism since they tend to be hurt most socially and economically by unfulfilled market contracts. To investigate this argument, I statistically estimate random intercept models on a sample of Pew Global Attitudes Project’s 2013 survey results. I observe that a three-way interaction among individuals’ urbanity, poverty, and their nations’ poor contract enforcement indicators increase anti-Americanism.
Topic:
Economics, Poverty, Urban, Survey, Economic Norms Theory (ENT), Hierarchical Modelling, and Anti-Americanism
Political Geography:
Global Focus and United States of America

119. Options for Green-Skilled Migration Partnerships: A Guide for Policymakers

Author:
Helen Dempster and Samuel Huckstep
Publication Date:
06-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
The green transition is widely expected to lead to high levels of net job creation, with roles distributed across the pay and skill spectrum. To fill these roles, many countries of destination will need to use migration alongside their domestic labour supply. Yet few countries of origin have enough skilled workers to meet their own green transition targets. As a result, any green-skilled migration facilitated by countries of destination should be linked with investments in the training, recruitment, and retention of workers into ‘green’ jobs within countries of origin. This paper explores three models that link training and migration in a partnership framework—fixed-term migration; Global Skill Partnerships; and migration with parallel investments—to maximise both economic development and carbon reduction benefits. For each model, the paper outlines key considerations that should be taken into account along with a worked example. It also includes a "guide," walking policymakers through the different models to understand which would best meet the needs of countries of origin, countries of destination, and employers.
Topic:
Economics, Migration, Economic Development, and Green Transition
Political Geography:
Global Focus

120. The Economics of Eliminating Plastic Water Bottles in the United States

Author:
Emily Diaz-Loar
Publication Date:
10-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
As of the most recent 2018 data, U.S. residents purchased more than 70 billion plastic water bottles. On average, this amounts to each U.S. resident buying 214 plastic water bottles during 2018. Virtually all these bottles are manufactured as fossil fuel-based products, and 86 percent are disposed of after only one use. Such fossil fuel-based single-use plastic bottles inflict a range of severe negative impacts on the environment and human health. They leach toxic chemicals into the soil, water and food supply, which in turn contribute to causing various types of cancers as well as infertility, in humans and other species. They also release tiny ‘microplastic’ particles, which have been found in, among other parts of the human body, the carotid artery tissues that supply blood to the brain. Recent research has found that people with microplastics in their carotid artery tissues were twice as likely to have a heart attack, stroke or die from any cause over the next three years than people who had none. Beyond this, plastic bottles litter beaches and roadways, clog water drains, strangle animals and contaminate habitats. It is clear that continuing, and expanding, the consumption of single-use fossil fuel-based plastic water bottles, in the U.S. and elsewhere, is unsustainable. In this study, I examine alternative approaches to phasing out their use. More specifically I consider six possible alternatives to single-use fossil fuel-based plastic water bottles within the U.S. economy. These include: recycling fossil-fuel based bottles; utilizing plants as the raw material for producing ‘bioplastic’ bottles; and producing bottles with materials other than plastics, including paperboard cartons; glass; aluminum; and stainless steel. Of these alternatives, I show that, in terms of both environmental impacts and production costs, the most viable substitutes for single-use fossil-fuel based plastic bottles are reusable bottles made from either aluminum or stainless steel. Overall, aluminum or stainless steel-based bottles can significantly reduce the environmental impacts of water bottles, in particular the chemical toxicity that results from their use. Substituting aluminum or stainless steel-based bottles can also dramatically reduce the levels of waste and raw material extraction associated with fossil fuel-based plastic bottles. Further, I estimate that the costs of producing bottles from either aluminum or stainless steel will fall by over 30 percent in a scenario in which they substitute for 90 percent of the fossil fuel-based single-use plastic bottles now being consumed in the U.S. Overall, my results demonstrate that there are realistic prospects to achieve major environmental and economic benefits through phasing out single-use plastic bottles and creating viable alternatives to their continued use.
Topic:
Economics, Pollution, and Plastic
Political Geography:
North America and United States of America