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The Nexus Between Economic Freedom and Economic Growth in the LDCs
Economic freedom and economic growth can be connected in most countries, but it is often necessary to specify those aspects of economic freedom that can foster economic growth. This paper examines the nexus between economic freedom and economic growth in the Least Developed Countries (LDCs) using panel data for the period 2000-2021. Results show that, in general, economic freedom positively influences economic growth in the LDCs. Moreover, most economic freedom factors raise economic growth. However, the effect of government spending, fiscal and financial freedom on economic growth is negative. Using a Principal Component Analysis for the economic freedom sub-indicators confirms the results.
The Palgrave Handbook of Family Sociology in Europe
This handbook provides a meaningful overview of topical themes within family sociology as an academic field as well as empirical realities in various societal contexts across Europe. More than sixty prominent European scholars’ original texts present the field’s main theoretical and methodological approaches in addition to issues such as families as relationships, parental arrangements, parenting practices and child well-being, family policies in welfare state regimes, family lives in migration, and family trajectories. Presenting cutting-edge research on findings, theoretical interpretations, and solutions to methodological challenges, it is a timely tool for researchers, teachers, students, and family practitioners who wish to familiarise themselves with the state of family sociology in Europe.
Social Benefits and the Feedback Effect of Child Poverty in European Countries
This paper examines how social benefits contributed to reducing the scarring effects of monetary poverty among children in European countries in the years following the Great Recession. Based on the European Union Statistics on Income and Living Conditions database, our findings highlight that social benefit functions differ in their ability to reduce the risk of monetary poverty for children with previous experience in poverty. While family/children’s benefits are crucial in reducing child poverty in general, they are not significant in terms of reducing the scarring effects of child poverty. Old age/ survivors’ benefits meanwhile appear to be a significant support for children with prior experience in poverty. Empirical evidence thus suggests the effectiveness of social transfers to combat occasional child poverty does not always coincide with their effectiveness in preventing children from remaining in poverty year after year.
Encyclopedia of Information Science and Technology
"This set of books represents a detailed compendium of authoritative, research-based entries that define the contemporary state of knowledge on technology"--Provided by publisher.
Turkish Migration, Identity and Integration
Introduction by Çağlar, Sirkeci, Şeker; Mobilities of Turkish migrants in Europe by Pötzschke; Incentive to migrate and to return to home country by Kahn and Billfeld; Turkish refugees and their use of health and social services in London by Yaylagül, Yazıcı and Leeson; Child poverty in Sweden among immigrants by Gustafsson and Österberg; Alevis' transnational practices and identity in the UK by Akdemir; Turkish teachers' views on European identity in Belgium by Yaylacı; Language maintenance and negotiating integration by Baskin; From retreating to resisting by Hametner; Social communication among Turks in Belgium by Yaylacı; Tiryaki Kukla - Smoking cessation and tobacco prevention among migrants in Switzerland by Gross, Arnold and Schaub; "Rewriting" Turkish-German cinema from the bottom-up by Alkin; Grounded theory and transnational audience reception by Özalpman; Turkish Muslims in a German city by Hackett;An Investigation on the Turkish Religious Foundation of the UK by Çoştu and Çoştu
This Changes Everything: Climate Shocks and Sovereign Bonds
Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change vulnerability and resilience on sovereign bond yields and spreads in 98 advanced and developing countries over the period 1995–2017. We find that the vulnerability and resilience to climate change have a significant impact on the cost government borrowing, after controlling for conventional determinants of sovereign risk. That is, countries that are more resilient to climate change have lower bond yields and spreads relative to countries with greater vulnerability to risks associated with climate change. Furthermore, partitioning the sample into country groups reveals that the magnitude and statistical significance of these effects are much greater in developing countries with weaker capacity to adapt to and mitigate the consequences of climate change.
Fiscal Discipline and Exchange Rates
We look at the effect of exchange rate regimes on fiscal discipline, taking into account the effect of underlying political conditions. We present a model where strong politics (defined as policymakers facing longer political horizon and higher cohesion) are associated with better fiscal performance, but fixed exchange rates may revert this result and lead to less fiscal discipline. We confirm these hypotheses through regression analysis performed on a panel sample covering 79 countries from 1975 to 2012. Our empirical results also show that the positive effect of strong politics on fiscal discipline is not enough to counter the negative impact of being at/moving to fixed exchange rates. Finally, we use the synthetic control method to illustrate how the transition from flexible to fully fixed exchange rate under the Euro impacted negatively fiscal discipline in European countries. Our results are robust to a number of important sensitivity checks, including different estimators, alternative proxies for fiscal discipline, and sub-sample analysis.
Public Debt and Economic Growth
Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether empirical evidence for that rule can be found. Additional tests are implemented to gain further evidence on sustainability of public debt. In order to allow for time varying coefficients penalized spline estimations are performed. The theoretical chapters present endogenous growth models and assume that the primary surplus rises as public debt increases so that sustainability of public debt is given. Implications of public deficits and debt are studied assuming full employment and for unemployment. The conclusion summarizes the findings and compares the results of the different models. Finally, policy implications are given showing how governments should deal with high public debt to GDP ratios.
The Efficiency of Government Expenditure
This paper assesses the efficiency of government expenditure on education and health in 38 countries in Africa in 1984-95, both in relation to each other and compared with countries in Asia and the Western Hemisphere. The results show that, on average, countries in Africa are less efficient than countries in Asia and the Western Hemisphere; however, education and health spending in Africa became more efficient during that period. The assessment further suggests that improvements in educational attainment and health output in African countries require more than just higher budgetary allocations.
Rethinking Financial Deepening
The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation—not necessarily more regulation—thus leads to greater possibilities both for development and stability.
