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Global energy security is a growing worldwide concern in the presence of high economic policy uncertainty (EPU) that can be addressed by advancing sustainable energy diversification (ED) practices. Energy security can be estimated by combining ED and EPU indices; hence, this study uses a dataset covering three continents and 26 countries from 1995 to 2023 to measure energy security employing this approach. The study employs quantile regression and panel data analysis, finding a positive relationship between EPU and ED. The results reveal that when EPU increases, the spectrum of energy sources declines, negatively impacting energy security. Other factors of globalization, Gross Domestic Product, gross capital formation, and the labor force also have an impact on the spectrum of energy sources. To obtain a sustainable level of ED, policymakers should increase investment in gross capital formation because economic growth and openness via pro-global policies have less impact on ED. This study also demonstrates that labor capital shifts have a significant effect on ED. The quantitative results reveal the importance of clear and precise economic policies for increasing investment in carbon-free energy security. [Display omitted] [ABSTRACT FROM AUTHOR]

This document is a preface to a special issue of the Journal of Multiple-Valued Logic & Soft Computing. The special issue includes a selection of extended contributions presented at the XXII SIGEF Congress, which focused on methods for analyzing socio-economic uncertainty in the post-COVID era. The purpose of the special issue is to stimulate scientific exchanges, promote international cooperation, and disseminate international research results. The preface provides a brief overview of the papers included in the special issue, which cover topics such as business diagnosis, insolvency prediction, patient estimation, optimal clustering, classification of firms, explainable artificial intelligence, energy markets, fuzzy numbers, wheat prices, and economic policy uncertainty. The preface expresses gratitude to the referees and the editor-in-chief for their contributions. [Extracted from the article]

In the early period of Yi Dynasty of Korea, currency and physical transactions were parallel, and the market order was chaotic. During the reign of Emperor Taejong, the Banknote Law was established and carried out, and measures such as replacing physical objects with paper money, establishing joint purchase houses and determining the crime of hiding cloth were adopted to enhance currency credit. Although the law promoted circulation, monetary reform was not smooth. In this study, based on the economic historical data of the dynasty and the game theory method, the author find that the Yi Dynasty tries to improve the relationship between the state and the grassroots society and explore new economic policies through national finance and monetary reform. The failure of monetary reform is not only a policy failure, but also a consequence of uneven distribution of interests among different subjects. [ABSTRACT FROM AUTHOR]

The recovery of the global economy in the aftermath of COVID-19 faces enormous challenges. Ensuring stable income growth of the population has become an important means for developing countries to ensure sustained economic development. Raising the overall income of the population is a public initiative that benefits all citizens; therefore, governments of developing countries should promote the implementation of relevant public policies and the provision of public goods to ensure that existing economic instruments can benefit the entire population. In this regard, public space, as a typical form of public good, may play an important role in promoting the benefits of existing economic policies for all residents. This paper examines how residents' use of public space contributes to their income growth through social capital. Hypotheses are tested based on an econometric analysis of 1565 questionnaires received from Chinese workers. The results show that residents' use of public space can indeed be an important way to increase their income, which is realized through the enhancement of social capital. The research presented in this paper provides a new influence variable of public space to improve residents' income. Further, it improves people's understanding of the three classical concepts—public space, social capital, and income—by establishing the logical connection and theoretical explanation of physical space, emotional space, and value space in human society. The conclusions of this paper highlight the important role of public space in urban and rural development planning. [ABSTRACT FROM AUTHOR]

Purpose: The farm sector is crucial for rural poverty alleviation, alongside the non-farm sector, which contributes to mitigating risks associated with crop failures. This paper investigates the effects of public policies on productive employment within both the farm and non-farm sectors in sub-Saharan Africa. Design/methodology/approach: A meta-analysis is conducted exclusively on the results of the Partnership for Economic Policy (PEP)-funded studies under the Policy Analysis on Growth and Employment (PAGE II) initiative. Selected studies focused on the impact of public policies on productive employment in rural farm and non-farm sectors, encompassing a total of nine sub-Saharan Africa countries in: Benin, Burkina Faso, Cote d'Ivoire, Democratic Republic of Congo, Ghana, Lesotho, Nigeria, Senegal and South Africa. Findings: The results indicate that public investments in rural areas and public policies that facilitate access to productive resources are likely to enhance productive employment. The overall effect size is positive and significant, ranging from 2% to 10% increases in productive employment. Sources of variation include the sector of activity and the policy instrument. In addition, the policy effects are gender-sensitive and seem more consistent in the non-farm sector. Research limitations/implications: Although the selected working papers addressed several aspects of productive employment, other aspects warrant further investigation. Policies involving restrictions or regulations have received little attention in the impact analysis. Researches to fill this gap would be important. Another suggestion for further research is the analysis of the relative importance of non-farm employment in rural areas in developing countries. It is always assumed that rural households depend heavily on agriculture for their subsistence. Originality/value: The contribution of the paper lies in the comparative analysis of numerous public policies implemented in nine distinct countries. By consolidating data from fourteen 14 different experiences into a single study, the paper offers valuable insights on factors that determine policy effectiveness and contribute to understanding what worked for whom and why. [ABSTRACT FROM AUTHOR]

This article from Economic Policy provides a summary of five papers that contribute to our understanding of economic and policy issues. The first paper examines the impacts of historical conflicts on the current conflict in Ukraine, emphasizing the importance of demining, preserving social cohesion, and addressing gender imbalances and conflict-related sexual violence. The second paper evaluates the effectiveness of legislation aimed at restricting the mobility of unemployed individuals within specific areas of a city, finding that these laws are ineffective and have unintended negative consequences. The third paper analyzes the macroeconomic impact of structural reforms in Italy, showing that these reforms can lead to increased productivity and GDP growth. The fourth paper presents a comprehensive analysis of China's foreign lending practices, highlighting unconventional confidentiality clauses and collateral arrangements used by Chinese lenders. The final paper explores the question of higher education subsidies, finding that increased subsidies can have positive fiscal and welfare impacts in many countries. These papers offer evidence-based recommendations and policy lessons for policymakers in various contexts. [Extracted from the article]

Green bonds are relatively new in the financial market compared to other financial securities but are useful in financing environmentally friendly projects. Just like other financial securities, green bonds are affected by various factors, such as economic policy uncertainty. Our aim of this paper was to conduct a systematic literature review of the impact of economic policy uncertainty on green bonds. We sought to do a thorough analysis of the existing literature on the assessment of the impact of economic policy uncertainty on green bonds and the techniques used in assessing the impact. Our findings showed that economic policy uncertainty had a strong impact on the green bond, with its intensity varying by location. This impact tended to be more pronounced in periods of heightened uncertainty. Also, our findings highlighted that the assessment of the impact of economic policy uncertainty on green bonds gained popularity in 2019, with China emerging as a prominent contributor. However, other countries, such as Finland, even though they had few published papers, their citations signified the production of quality papers in this field. Additionally, we found that the application of the quantile analysis method was utilized by many recent studies, which signified its importance in this field. Our findings highlighted the importance of considering appropriate techniques in assessing the impact of economic policy uncertainty on green bonds while taking into account the paper quality. [ABSTRACT FROM AUTHOR]

Commodities are usually used to diversify portfolios. However, their prices are affected by uncertain phenomena such as economic crises, political events, climate risk, etc. This paper examines how Climate and Economic Policy Uncertainty (measured by the CPU and GEPU indices, respectively) affect to wheat prices in the spot and future markets. By combining the wavelet transform and coherence analysis it is possible to see, graphically, the relationship between two time series and also to analyze it at different time frequencies. Although wheat spot and future prices have a similar behavior, the main results obtained in this paper show that the relationships between CPU and GEPU with future prices are stronger than with spot prices. Furthermore, futures and CPU exhibit synchronous movements, whereas futures and GEPU demonstrate antiphase behavior. However, in both cases (futures and spots) their relationship with CPU/GEPU is bounded to several time periods and some frequencies. [ABSTRACT FROM AUTHOR]

Financial market (6 papers) The paper "Do the RMB exchange rate and global commodity prices have asymmetric or symmetric effects on China's stock prices?" It suggests that hedge fund strategies' betas respond more to illiquidity uncertainty than to illiquidity risk during crises, illiquidity and VIX shocks are the major drivers of systemic risk in the hedge fund industry. Specifically, China's stock prices are more sensitive to increases than decreases in global commodity prices. [Extracted from the article]

For the past 50 years, state and local governments in North America heavily subsidized the construction of professional sports facilities despite the fact that only private activity takes place in these facilities. Proponents of these subsidies frequently claim that they are justified because they represent viable local economic development projects. A proponents claim a new facility will "pay for itself" by generating large tangible economic benefits, including increases in tax revenues. This paper summarizes the existing literature that contains no evidence supporting these claims, along with a new literature containing evidence that professional sports events cause a number of negative urban congestion externalities like increased crime and traffic. The paper also documents trends in subsidization over the past 50 years and discusses reasons why these subsidies persist. The paper emphasizes the role played by my research in this area. [ABSTRACT FROM AUTHOR]

When scholars investigate the legacy of John Maynard Keynes's Treatise on Probability (1921) for the development of Keynes's thinking, the attention usually focuses on the connections among Keynes's probability theory, his conception of decision-making under uncertainty, and the theory of the functioning of the macroeconomic system that derives from it—through the marginal efficiency of capital, the preference for liquidity, and the self-referential functioning of financial markets. By contrast, this paper aims to investigate the connections between Keynes's probability theory, on the one hand, and his economic policy recommendations, on the other. It concentrates on the policy recommendations defended by Keynes during the Great Depression but also after the General Theory. Keynes's economic policy can be understood as a framework for decision-making in situations of uncertainty: fiscal policy aims to induce private agents to change their "rational" probability statements, while monetary policy aims to allow more weight to these statements. [ABSTRACT FROM AUTHOR]

Copyright of Nóesis: Revista de Ciencias Sociales is the property of Revista Noesis and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article from the Economic Policy journal covers a range of economic topics. The first paper examines the European Central Bank's pursuit of a 2% inflation target and identifies potential risks that could prevent the bank from achieving this goal. The second paper focuses on Turkey and discusses how unorthodox monetary policy has led to rising inflation and a depreciating currency. The third paper explores how municipalities in Swiss mountainous regions use hydropower royalties, primarily by lowering taxes. The fourth paper investigates the long-term impact of the COVID-19 pandemic on education, highlighting a decrease in learning time and potential consequences for inequality and skill development. The final paper analyzes bank dividend payouts and their economic policy implications, particularly in the context of the COVID-19 crisis. [Extracted from the article]

Call for papers for a special issue on economic policy in an era of crises and uncertainty - tackling global inequality and financial instability, building forward post-covid, and securing net zero Papers for this Special Issue are invited to address the complexity of economic policy formation given the multiplicity of policy objectives along with the uncertainty over the global economy. The I International Review of Applied Economics i invites papers for a Special Issue on 'Economic policy in an era of crises and uncertainty - tackling global inequality and financial instability, building forward post-covid, and securing net zero'. [Extracted from the article]

This paper employs the Panel Vector Autoregression (PVAR) method to examine the dynamic interrelationship between Economic Policy Uncertainty (EPU) and stock market returns. The existing literature has not reached a consensus on the relationship between EPU and stock market returns, and there is a lack of comparative analysis of domestic and foreign EPU. Therefore, this paper is the first to incorporate domestic and foreign EPU, stock market returns, and output into a unified framework, considering the dual impact of domestic and foreign EPU shocks. Additionally, the generalizability of the results is ensured by including a large sample of nine emerging and eleven advanced economies. The main findings are as follows: First, a positive shock to foreign EPU leads to a decline in stock market returns and is stronger than the impact of domestic EPU. Second, a positive shock to stock market returns reduces both domestic and foreign EPU. Third, a rise in stock market returns promotes domestic output growth, while increases in domestic and foreign EPU suppress domestic output growth. Finally, the United States is a net exporter of EPU rather than a net importer. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has triggered unprecedented economic challenges worldwide, prompting governments to implement various expansionary economic policies to mitigate its adverse effects. Expansionary policies typically involve measures such as increased government spending, tax cuts, policy and interest rate cuts, and monetary stimulus packages to boost economic activity and support businesses and households during times of economic downturn. This research paper explores the relationship between current inflation rates and the effectiveness of expansionary economic policies adopted during the pandemic. The hypothesis posits that expansionary policies increase inflation rates across different countries. Through a comparative analysis of various countries' approaches, the study identifies the impact of these policies on inflation. Findings reveal varied effects, emphasizing the importance of contextual factors. This cross-country analysis will include developed and developing economies to understand the implications across different economic contexts. This study contributes to understanding the interplay between expansionary policies and inflation dynamics during the pandemic. [ABSTRACT FROM AUTHOR]

In the aftermath of recent populist upheavals in Europe, nationalist economic policies challenge the overly positive view on economic integration and the reduction of trade barriers established by standard economic theory. For quite a long time the great majority of economists supported trade liberalisation policies, at least those actively engaged in policy advice or public debates. In this paper, we examine the elite economics discourse on trade policies during the last 20 years regarding specific characteristics of authors, affiliations, citation patterns, the overall attitude towards trade, as well as the methodological approach applied in these papers. Our analysis yields the following results: First, the hierarchical structure of economics also manifests in the debate about trade. Second, while we found some indications of a shift towards more empirically oriented work, quite often empirical data is solely used to calibrate models rather than to challenge potentially biased theoretical assumptions. Third, top economic discourses on trade are predominantly characterised by a normative bias in favour of trade-liberalisation-policies. Forth, we found that other-than-economic impacts and implications of trade policies (political, social and cultural as well as environmental issues) to a great extent either remain unmentioned or are rationalised by means of pure economic criteria. [ABSTRACT FROM AUTHOR]

Copyright of Global Journal of Economics & Business is the property of Refaad for Studies, Research & Development and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Economic policy uncertainty has had an important impact on trade and sustainable economic development. Especially in some specific industries, uncertainty has increased dramatically. The extant related literature mainly analyzes the nexus between uncertainty and trade across different industries and focuses less on a specific industry. Using Chinese customs data on HS 8-digit products over the period of 2000–2013, this paper first investigates the impact of both foreign economic policy uncertainty (EPU) and domestic intra-industry trade on China's mechanical and electrical product exports to 23 trading partners and applies pooled OLS regressions to conduct an empirical study. This paper finds that EPU has a significant inhibition effect on mechanical and electrical product exports; conversely, intra-industry trade can both significantly promote exports and alleviate the inhibition effect of EPU. In addition, the export impact of EPU varied with different trade patterns. It can significantly inhibit processing exports, while it has no effect on ordinary exports. The results of this paper indicate that in the context of increasing uncertainty, our findings could have far-reaching policy implications for China to build a new development pattern of domestic and international dual circulation. [ABSTRACT FROM AUTHOR]

This study contributes to income equality (IE) literature by examining four important issues. First, the study examines the effects of foreign bank presence (FBP) on IE. Second, the paper identifies the minimum threshold level of FBP which can lead to IE. Third, the effect of economic freedom on IE was investigated. Fourth, the paper determines whether economic freedom interacts with FBP to minimise IE. The findings are based on macro data for 33 African countries from 1995 to 2020. The findings from the two-stage system generalised method of moment indicate that unconditionally, FBP reduces income inequality. Also, results from the threshold effect reveal that whilst FBP reduces income inequality, if it exceeds 52%, it may contribute to it. Additionally, the study reveals that economic freedom dampens IIE. Furthermore, economic freedom conditions FBP to reduce IE. Based on these findings, policymakers are advised to exercise caution in attracting foreign banks and to promote local financial institutions. Policymakers are also advised to implement policies to promote economic freedom. [ABSTRACT FROM AUTHOR]

Copyright of Jurnal Ilmu Ekonomi Terapan is the property of Universitas Airlangga and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper contributes to the still unresolved issue of the growth impact of government size by analysing a historical panel data set of 17 developed countries that ranges from 1880 to 2016. The unique feature of the long-time dimension allows for conducting a kind of natural experiment. Government size is closely related to economic-policy paradigms. The time span covers different economic policy paradigms, in particular, ‘laissez-faire’ before World War II and Keynesian economic policy after World War II. Before WW II government size is small, after WW II it is (has grown) big. Furthermore, this paper contributes to filling a gap in the literature by testing the non-linear hypothesis (Armey curve). We take particular attention to a key shortcoming of panel-data analysis – parameter or individual heterogeneity. Overall, this analysis suggests a systematic positive, albeit quite small, linear relationship of government size with economic growth. As a consequence, rather than concentrating their attention to the sheer size of government, policy makers are advised caring for an efficiently run and high)quality government sector as a prerequisite for a steady growth path. [ABSTRACT FROM AUTHOR]

China is currently focusing on the cooperative control of air pollution and CO2 emissions, as well as the mitigation of economic policy uncertainty (EPU). By using panel data from 282 cities spanning from 2003 to 2017 and a newly constructed city-level EPU index, a spatial Durbin, two-way fixed-effects model is employed, with the aim of estimating the impact of EPU on the synergistic emissions intensity (SEI) of air pollutants and CO2. Additionally, this paper investigates the potential channels through which EPU influences SEI. It also explores how pressures related to environmental protection and economic development affect the impact of EPU on SEI. The results indicate that a unit increase in EPU will result in a rise in the SEI of local cities, adjacent cities, and total cities by 930.9%, 69,162.7%, and 70,093.6%, respectively. Moreover, the channel analysis suggests that EPU exacerbates SEI by undermining the upgrading of the industrial structure, augmenting industrial structure distortion, and escalating labor market distortion. Furthermore, the effect of EPU on SEI may be lessened by an increase in environmental protection pressure, while an increase in economic development pressure may exert a positive influence. Finally, this paper concludes by recommending that policymakers should prioritize the maintenance and stability of economic policies, facilitate the advancement of the industrial structure, enhance the efficiency of labor resource allocation, and underscore the significance of managing urban air pollution and CO2 emissions. [ABSTRACT FROM AUTHOR]

The main objective of the present paper is to provide the reasons behind the rise and fall of resources for innovation policies in Brazil between 1999 and 2016. The paper also intends to provide a broad map of the financial relations between funding sources and financial agents in the Brazilian National System of Innovation (NSI). In order to do that, the paper uses mixed methods: a historical approach to cover the motivations of the political economy; principles of network analyses to map the institutional relations between funding sources and financial agents; and economic theory to understand the determinants of the cash flows that finance science, technology and innovation (STI) policies. The institutional arrangement of the Brazilian NSI led the financial cycle to rely, on a general level, on GDP dynamism; the strategy of selected public bodies; on the federal budget decision process; and on the external economic cycle. Between 2003 and 2014, political struggles led to economic policies that favoured GDP growth and public spending, while the opposite occurred from 2015 onwards. In general, institutions were not equipped to protect the financial resources from the political changes of the mid-2010s. [ABSTRACT FROM AUTHOR]

The eighteenth paper "An empirical behavioral order-driven model with price limit rules" proposes an empirical behavioral order-driven (EBOD) model with price limit rules, which consists of an order placement process and an order cancelation process. The fifteenth paper "A multicriteria credit scoring model for SMEs using hybrid BWM and TOPSIS" developed and validated a system to predict SMEs' credit risk by introducing a multicriteria credit scoring model. The first paper "A wavelet approach of investing behaviors and their effects on risk exposures" develops a Time-Frequency Multi-Betas Model with ARMA-EGARCH errors to analyze short and long exposures to different sources of risk. [Extracted from the article]

The papers in this symposium were initially presented at the Global Political Economy Network conference at Loughborough University in London in April 2019. It is also possible that female-led firms may find it harder to implement innovations learned by exporting: this seems to be particularly a problem facing larger female-led firms. Rather than treating institutions as exogenous and policy as endogenous, these authors investigate the effect upon institutions of a policy choice to adopt inflation targeting. [Extracted from the article]