Search Results (8)

Economic systems face critical challenges, including widening income inequality, unemployment driven by automation, mounting public debt, and environmental degradation. This study introduces Economocracy as a transformative framework aimed at addressing these systemic issues by integrating democratic principles into economic decision-making to achieve social equity, economic efficiency, and environmental sustainability. The research focuses on two core mechanisms: Economic Productive Resets (EPRs) and Economic Periodic Injections (EPIs). EPRs facilitate proportional redistribution of resources to reduce income disparities, while EPIs target investments to stimulate job creation, mitigate automion-related job displacement, and support sustainable development. The study employs a theoretical and analytical methodology, developing mathematical models to quantify the impact of EPRs and EPIs on key economic indicators, including the Gini coefficient for inequality, unemployment rates, average wages, and job displacement due to automation. Hypothetical scenarios simulate baseline conditions, EPR implementation, and the combined application of EPRs and EPIs. The methodology is threefold: (1) a mathematical–theoretical validation of the Cycle of Money framework, establishing internal consistency; (2) an econometric analysis using global historical data (2000–2023) to evaluate the correlation between GNI per capita, Gini coefficient, and average wages; and (3) scenario simulations and Difference-in-Differences (DiD) estimates to test the systemic impact of implementing EPR/EPI policies on inequality and labor outcomes. The models are further strengthened through tools such as OLS regression, and Impulse results to assess causality and dynamic interactions. Empirical results confirm that EPR/EPI can substantially reduce income inequality and unemployment, while increasing wage levels, findings supported by both the theoretical architecture and data-driven outcomes. Results demonstrate that Economocracy can significantly lower income inequality, reduce unemployment, increase wages, and mitigate automation’s effects on the labor market. These findings highlight Economocracy’s potential as a viable alternative to traditional economic systems, offering a sustainable pathway that harmonizes growth, social justice, and environmental stewardship in the global economy. Economocracy demonstrates potential to reduce debt per capita by increasing the efficiency of public resource allocation and enhancing average income levels. As EPIs stimulate employment and productivity while EPRs moderate inequality, the resulting economic growth expands the tax base and alleviates fiscal pressures. These dynamics lead to lower per capita debt burdens over time. The analysis is situated within the broader discourse of institutional economics to demonstrate that Economocracy is not merely a policy correction but a new economic system akin to democracy in political life. Full article

Agricultural eco-efficiency (AEE) is a crucial indicator of the green development of agriculture. Agricultural socialized services (AS) provide services for the agricultural production process and they promote the effective input of production factors, such as science and technology, talent, information, and capital, into the agricultural production chain, deepening the division of labor and injecting vitality into agricultural development. We measured AEE based on field research data in Jiangxi Province, China. We also constructed an endogenous switching model to explore the impact of AS on AEE. Our results show that, based on the counterfactual assumption, the AEE increased by 13.19% among farmers who adopted the services compared to those who did not. From the perspective of scale and structural differences, the larger the scale of agricultural cultivation, the stronger the impact of AS on AEE. Furthermore, a large share of cash crops was found to inhibit the impact of AS on AEE. We also investigated whether farmers in close proximity to each other affect their neighbors through knowledge dissemination and technology spillover. The extent of the impact of AS on AEE depended on distance thresholds: it was more pronounced when we increased the distance threshold. Our results suggest that the government should improve the AS system, provide more public welfare services, and appropriately subsidize AS organizations. The AS for food crops should be emphasized; however, those for cash crops should not be ignored. Full article

Frequent shifts in economic policies not only inject uncertainty into the economic landscape but also pose significant challenges to corporate endeavors in green technological innovation. Drawing on a dataset of Chinese A-share listed companies spanning 2008 to 2020, this research delves into the repercussions of economic policy uncertainty on the green technological pursuits of manufacturing firms and elucidates the underlying dynamics at play. The empirical evidence underscores a marked reluctance among companies to champion green technological innovation in the face of economic policy ambiguity, a stance that holds water even after rigorous robustness checks. Delving into the mechanisms, the study pinpoints heightened financial constraints and a diminishing risk appetite within the managerial ranks as pivotal deterrents steering firms away from green innovation projects amidst such uncertainty. Intriguingly, the adverse interplay between economic policy uncertainty and green innovation is especially accentuated in firms marked by tenuous government–business affiliations, pronounced monopolistic inclinations, lax intellectual property safeguards, minimal pollution footprints, and a skewed labor-to-capital composition. This investigation augments the scholarly discourse on the nexus between economic policy volatility and corporate green innovation, shedding light on strategic imperatives for emerging economies as they chart out future environmental blueprints and cultivate a conducive milieu for green innovation. Full article

This paper explores the impact of investment and employment on Egypt’s agricultural growth during the period 1991 to 2021 using annual time series data. We use the ARDL approach to examine the long-run and short-run relationships among agricultural investment, agricultural employment and agricultural GDP. The results reveal that the variables of interest are bound together in the long run. The long-run relationship and the error correction model are estimated. The accompanying equilibrium correction proves that long-run linkages exist in a meaningful way. Results show that agricultural investment and agricultural employment are major short- and long-run determinants of the agricultural GDP. In the long run, every 1% increase in agricultural employment (AEMP) results in an increase in the agricultural GDP (AGDP) of 3.73%, while every 1% increase in agricultural investment (AINV) improves the AGDP by 0.43%. In the short run, 26% of all disequilibrium-causing motions are adjusted for in a single session. Therefore, it takes 3.85 years for the Egyptian agricultural GDP to achieve the transition from a short-term disequilibrium situation to a long-term equilibrium. Thus, decision makers should increase the rates of investment in the agricultural sector, in parallel to the development of the agricultural labor force in Egypt. Moreover, the increased allocation of public investments and the injection of private investments are highly recommended. In addition, the Egyptian agricultural sector needs improvements regarding human capital development and agricultural training. Finally, the government must initiate comprehensive farmer support services, bolstered farm/non-farm links and the promotion of rural SMEs to serve as the foundation for agricultural and rural development. Full article

This article is a case study of the blue finance mechanism (BFM) in China and makes use of evolutionary game theory and numerical simulation to show how the BFM plays a critical role in promoting the sustainable development of China’s marine economy, society, and environment. To ensure the perpetuation of the BFM, it is necessary for the Chinese government to attract private sector investment in the marine sector (PSIMS). By intervening in the BFM, the government can create a more favorable investment environment, which can then lead to greater private sector investment and contribute to the overall sustainability of the ocean. The goal of this article is to create an analytical model based on public finance and government management to examine the efficiency of Chinese governmental involvement in the BFM in order to boost the maritime industry by attracting private sector investment for funding the BFM. The results revealed the following: First, governmental involvement can have significant positive effects in promoting the sustainable development of the BFM in China. Second, the timeliness of governmental intervention in China can affect the private sector’s incentive to invest in the marine sector. Third, the Chinese government’s intervention in subsidizing costs can have significant impacts in engaging the private sectors to expand capital injection into marine investments. The minimization of potential risks of investment in the marine sector is critical to enhancing investor confidence and trust. The early intervention of the Chinese government is therefore crucial. Additionally, to further incentivize PSIMS, the Chinese government must make a concerted effort to increase subsidies and provide non-monetary rewards. This will help achieve sustainable development in the country’s economy, society, and environment. Full article

Our study investigates the optimal dividend strategy for a bank, taking into account the potential for government capital injections. We explore different types of government interventions, such as liberal, transparent, or uncertain strategies, and consider both single and multiple types of interventions. Our approach differs from others as it focuses on interventions that aim to maintain the overall stability of the financial system, rather than just addressing banks that have already sought government assistance or are in dire need of it. Specifically, we focus on situations where the government is more likely to assist banks that have not requested its intervention or that are not too difficult to save. To accomplish this, we conduct a comprehensive examination of all possible scenarios involving a single, one-time capital injection and derive explicit solutions for the associated optimal control problem. Furthermore, we expand the model to include semi-Markov dynamic capital injection processes and show that the optimal control is the unique viscosity solution of a Hamilton–Jacobi–Bellman equation. The government’s strategy also takes into account the bank’s solvency and any past government interventions. Full article

In this paper, we develop a contingent claim model to examine the optimal bank interest margin, i.e., the spread between the domestic loan rate and the deposit market rate of an international bank in distress. The framework is used to evaluate the cross-border lending efficiency for a bank that participates in a government capital injection program, a government intervention used in response to the 2008 financial crisis. This paper suggests that government capital injection is an appropriate way to recapitalize the distressed bank, enhancing the bank interest margin and survival probability. Nevertheless, the government capital injection lacks efficiency when the bank’s cross-border lending is high. Stringent capital regulation, suggested to prevent future crises by literature, leads to superior lending efficiency when the government capital injection is low. Full article

Synergies among land institutions and institutional changes impact on land markets and in guaranteeing agro-based employment, capital injection, local economic development and infrastructural improvement. Increasingly, these institutions have come under pressure and there are concerns about their functional capacities and implications on land markets. This paper discusses institutional synergies and its impacts on customary land markets under large-scale land acquisitions for agro-investments in Ghana. From the study, it was identified that the government of Ghana has maintained a non-interfering stance in customary land markets so as to protect the sanctity and independence of customary land institutions. Also, land transactions were found characterised by lack of transparency, information sharing, participation and accountability. For an efficient and effective management of LSLAs in Ghana, there is the need for a functioning institutional collaboration and one-stop-shop approach to streamline the apparent complex processes of acquiring agricultural land. The roles of customary custodians such as chiefs and Tendaamba should be critically reviewed and re-aligned according to local customs to make the institutions more accountable, consultative and transparent, while curtailing their enormous powers in land administration. Full article