Special Issue "Nexus between Politics and Economics in the Emerging Countries"

A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: 31 October 2022 | Viewed by 13552

Special Issue Editors

Prof. Dr. Rui Alexandre Castanho
E-Mail Website
Guest Editor
1. Faculty of Applied Sciences, WSB University, 41-300 Dąbrowa Górnicza, Poland
2. Faculty of Social Sciences and Humanities, Universidad International de la Rioja, Av. de la Paz, 137, 26006 Logroño, La Rioja, Spain
Interests: cross-border cooperation; common planning; eco-tourism; fund management; sustainable planning; sustainable development; territorial governance and management; tourism sustainability
Special Issues, Collections and Topics in MDPI journals
Dr. Sema Yılmaz Genç
E-Mail Website
Guest Editor
Ali Rıza Veziroğlu Vocational School, Marketing and Advertising, Kocaeli University, Kocaeli, Turkey
Interests: economic theory; economic history; behavioral economics; history of economic thought; economic methodology
Special Issues, Collections and Topics in MDPI journals
Dr. Dervis Kirikkaleli
E-Mail Website
Guest Editor
1. Department of Banking and Finance, Faculty of Economic and Administrative Science, European University of Lefke, Lefke Northern Cyprus, TR-10 Mersin, Turkey
2. Faculty of Business and Economics, Girne American University, Karaman 99320, Cyprus
Interests: environmental economics; macroeconomics
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

It is widely accepted that political stability is a primary requirement for the development and nurturing of entrepreneurs and for forecasting a nation’s long-term economic performance. On the other hand, economic development and financial performance may change the power balance in the government and lead to structural changes. The emerging countries have transformed themselves since the 1980s by liberalizing their markets, accelerating reforms, opening their economies to global trade, and adopting modern banking systems. Despite this transformation in the emerging countries, the nexus between political stability and economic development and the nexus between political stability and financial development have not been investigated, comprehensively. Therefore, this Special Issue aims to invite contributors to submit research that explicitly looks at these nexuses in the emerging countries. This Special Issue welcomes both qualitative and quantitative studies, as well as empirical and theoretical contributions.

Prof. Dr. Rui Alexandre Castanho
Dr. Dervis Kirikkaleli
Dr. Sema Yılmaz Genç
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • political economy
  • economic development
  • financial development
  • political stability
  • emerging countries

Published Papers (7 papers)

Order results
Result details
Select all
Export citation of selected articles as:

Research

Article
Effect of the Complexity of the Customs Tax System on the Tax Effort
Economies 2022, 10(3), 55; https://doi.org/10.3390/economies10030055 - 23 Feb 2022
Viewed by 754
Abstract
This paper empirically analyses the effects of the tax complexity and other elements, such as natural resource revenues, public expenditure, and the capacity of the statistical system, on the efficiency of Ecuadorian Customs Administration. For this purpose, the methodology used consists of modeling [...] Read more.
This paper empirically analyses the effects of the tax complexity and other elements, such as natural resource revenues, public expenditure, and the capacity of the statistical system, on the efficiency of Ecuadorian Customs Administration. For this purpose, the methodology used consists of modeling a stochastic production frontier whose estimation procedure is based on the maximum likelihood method for a data panel composed of six countries: Bolivia, Chile, Colombia, Ecuador, Peru, and Panama for the period from 2006 to 2017. The results of the study show that the countries whose tax system has a lower degree of complexity present a better level of revenue collected and tax effort as well as an improvement in the quality and dissemination of national statistical data. Furthermore, this paper provides evidence that the tax effort tends to decrease when the price of crude oil is on the rise. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Show Figures

Figure 1

Article
Analysis of International Capital Inflows and Institutional Quality in Emerging Markets
Economies 2021, 9(4), 179; https://doi.org/10.3390/economies9040179 - 15 Nov 2021
Viewed by 964
Abstract
This study investigates the cointegrating and causality relationships between foreign direct investment (FDI), foreign portfolio investment (FPI) and institutional quality in a sample of 12 emerging market economies for the period from 2007 to 2017. A composite index for institutional quality composed of [...] Read more.
This study investigates the cointegrating and causality relationships between foreign direct investment (FDI), foreign portfolio investment (FPI) and institutional quality in a sample of 12 emerging market economies for the period from 2007 to 2017. A composite index for institutional quality composed of the Worldwide Governance Indicators was constructed using the Principal Components Analysis (PCA) method. The panel autoregressive distributed lag (ARDL) model and the error correction model (ECM) were applied to assess the cointegrating and causal relationships between the key variables. In addition to finding significant cointegrating relationships between institutional quality and the foreign capital inflows (FDI and FPI), the results confirmed unidirectional causality from FDI and FPI to institutional quality in the long run. The results further suggested that the long-run relationship between the two foreign capital inflows was more of a trade-off nature, dependent upon the dynamics of the institutional environment in the host economy. The recommendations suggested include that emerging markets should continue to open their economies in pursuit of capital inflows, which will reciprocally strengthen their domestic institutional environment. Strengthening institutions could curtail the persistence of institutional weaknesses and insulate emerging economies from the adverse effects of volatile capital flows and, over the long run, enhance capital inflows. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Article
The Month-of-the-Year Effect in the European, American, Australian and Asian Markets
Economies 2021, 9(4), 168; https://doi.org/10.3390/economies9040168 - 03 Nov 2021
Viewed by 523
Abstract
This paper examines the existence of the month-of-the-year effects in four different continents, namely Europe, Asia, America, and Oceania. Nine indexes were analyzed in order to verify differences between monthly returns from January 1990 to December 2013, followed by an examination of the [...] Read more.
This paper examines the existence of the month-of-the-year effects in four different continents, namely Europe, Asia, America, and Oceania. Nine indexes were analyzed in order to verify differences between monthly returns from January 1990 to December 2013, followed by an examination of the January effect, Halloween effect, and the October effect, testing for statistical significance using an OLS linear regression in order to verify whether those effects offer consistent opportunities for investors. Investors with globally diversified portfolios benefit from the Halloween effect, with a 1.2% average monthly excess return in winter and spring, while the pre-dotcom-bubble period had a better performance than the post-dotcom-bubble period. In the global post-dotcom-bubble period, there is statistical evidence for 1.60% and 1% lower average monthly returns in January (the January effect) and in months other than October (the October effect), respectively, contradicting the literature. The dotcom bubble seems to be responsible for the January effect differing from what might otherwise have been expected in the later period. There is no consistent and clear impact on continental incidence. The Halloween effect is revealed to be a fruitful strategy in the FTSE, DAX, Dow Jones, BOVESPA, and N225 indexes taken one-by-one. The January effect excess average return was only statistically significative for the pre-dotcom-bubble period for globally diversified portfolios. This paper contributes to a wider global and comparable view upon month-of-the-year effect. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Show Figures

Figure 1

Article
Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process
Economies 2021, 9(4), 165; https://doi.org/10.3390/economies9040165 - 03 Nov 2021
Cited by 3 | Viewed by 1220
Abstract
The Austrian school economics and neo-Marxist theories both have been reviving in recent years. However, the current academic discussion lacks a debate between two schools of economics with diametrically opposed views. This paper is the first and an initial Austrian challenge to Neo-Marxist [...] Read more.
The Austrian school economics and neo-Marxist theories both have been reviving in recent years. However, the current academic discussion lacks a debate between two schools of economics with diametrically opposed views. This paper is the first and an initial Austrian challenge to Neo-Marxist scholars Nieto and Mateo’s argumentation that cyber-communism and the Austrian theory of dynamic efficiency are consistent to enhance economic development. Their argument focuses on two issues: (a) the existence of circular reasoning in the Austrian theory of dynamic efficiency, and (b) dynamic efficiency and full economic development could be strongly promoted in a socialist system through new information and communication technologies (ICT) and the democratization of all economic life. While cyber-communism refers to cyber-planning without private property rights through ICT, dynamic efficiency refers to the entrepreneurs’ creative and coordinative natures. In this paper, first, we argue that the hypothesis that dynamic efficiency and cyber-communism is not compatible. Contrary to the above cyber-communist criteria, the Austrian theory of dynamic efficiency argues that to impede private property rights is to remove the most powerful entrepreneurial incentive to create and coordinate profit opportunities. Second, we argue that the cyber-communism system is inconsistent with economic development. In this regard, we explain how the institutional environment can cultivate or stifle dynamic efficiency and economic development. Having briefly outlined the central argument of Nieto and Mateo, we examine the institutional arrangement supporting cyber-communism. After that, we evaluate the implications of cyber-communism in the dynamic efficiency process. It becomes manifest that Nieto and Mateo’s accounts are too general to recognize the complexity of how economic development works. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Article
Study on the Impact of Institutions on the Labor Productivity of Private Enterprises in Vietnam through the Spillover Effect from State-Owned Enterprises
Economies 2021, 9(3), 122; https://doi.org/10.3390/economies9030122 - 28 Aug 2021
Viewed by 963
Abstract
The paper analyzes the impact of institutions on the labor productivity of small and medium-sized private enterprises through the spillover effect from state-owned enterprises (SOEs). The authors used data samples from three datasets: (i) The Annual Enterprise Survey conducted by the General Statistics [...] Read more.
The paper analyzes the impact of institutions on the labor productivity of small and medium-sized private enterprises through the spillover effect from state-owned enterprises (SOEs). The authors used data samples from three datasets: (i) The Annual Enterprise Survey conducted by the General Statistics Office of Vietnam (GSO) from 2010 to 2018; (ii) Institutional data (PCI) published by the Vietnam Chamber of Commerce and Industry (VCCI) from 2010 to 2018; (iii) GSO 2012 I-O balance sheet and a set of tabular data containing 666,221 observations at the enterprise and provincial levels in Vietnam from 2010 to 2018, including both listed and unlisted enterprises. The model’s experimental result shows that institutional improvement boosts labor productivity of domestic private enterprises through a horizontal and forward spillover channel from SOEs. Through the backward spillover channel from SOEs, how institutional improvement affects the labor productivity depends on the degree of backward spillover channel from SOEs. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Article
Impact of Changes to Procedures on the Evaluation of the Effectiveness of Forms of Professional Activation in Poland
Economies 2021, 9(2), 88; https://doi.org/10.3390/economies9020088 - 03 Jun 2021
Viewed by 1021
Abstract
Active labour market policy is connected with the necessity to account for the funds allocated for it. The conducted analysis forms a part of research on the evaluation of the effects of changes introduced by legal regulations. The aim of this research is [...] Read more.
Active labour market policy is connected with the necessity to account for the funds allocated for it. The conducted analysis forms a part of research on the evaluation of the effects of changes introduced by legal regulations. The aim of this research is to assess the impact of changes to the methodology of calculating on values of the cost and employment effectiveness of basic forms of economic activation in Poland. They were introduced in 2015 in connection with ongoing discussion regarding the effectiveness of the evaluation methods used. The Ministry of Economic Development, Labour and Technology is currently responsible for activating the unemployed in Poland, and funds come from the Labour Fund. The analysis used is the regression discontinuity design. This analysis showed that significant changes occurred only in the slope of the regression line for cost effectiveness after 2015 for both procedures of its calculation. This shows that the new, introduced methods of calculating effectiveness were cosmetic in nature and did not significantly affect their values. A good recommendation for improving the method of evaluating forms of economic activation of the unemployed could be to extend the time of required employment. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Show Figures

Figure 1

Article
From a Recession to the COVID-19 Pandemic: Inflation–Unemployment Comparison between the UK and India
Economies 2021, 9(2), 73; https://doi.org/10.3390/economies9020073 - 07 May 2021
Cited by 8 | Viewed by 5865
Abstract
The recession in India and the UK peaked in 2017 due to the implications of new policy initiatives. The outbreak of the COVID-19 pandemic at the beginning of 2020 intensified the crisis, causing a drastic decline in aggregate demand and output. India and [...] Read more.
The recession in India and the UK peaked in 2017 due to the implications of new policy initiatives. The outbreak of the COVID-19 pandemic at the beginning of 2020 intensified the crisis, causing a drastic decline in aggregate demand and output. India and the UK have resorted to monetary and fiscal stimulus packages to face the economic crisis. This study investigated the inflation–unemployment dynamics during the recession and COVID-19 times in India and the UK. Using a generalized additive model (GAM), the results of this study revealed that the recession had given way to stagflation in India. In contrast, in the UK, it has led to a more severe recession in the short-run. During the downturn, policy initiatives aggravate the recession and eventually turn to stagflation in India due to inflation caused by the weak supply side. However, in the UK, the policy initiatives during this downturn pushed the economy into a deeper recession due to reduced demand. The outbreak of the COVID-19 pandemic has had a similar recessionary impact on both economies. A time horizon based recovery plan is suggested to help the economies recover from stagflation and even deeper recession. This framework could enable policymakers to choose the right path of recovery within the shortest possible time. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
Show Figures

Figure 1

Back to TopTop