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Can Cryptocurrencies Provide Better Diversification Benefits? Evidence from the Indian Stock Market Journal of Interdisciplinary Economics Pub Date : 2024-01-08 Susovon Jana, Ankita Nandi, Tarak Nath Sahu
Cryptocurrency has recently emerged as a financial asset among policymakers, investors and academics as a new alternative asset in the financial landscape. This research intends to empirically evaluate the safe haven, diversification and hedging potentials of digital currencies against the Indian equity market during different time frames. Four cryptocurrencies (Bitcoin, Ethereum, Binance Coin and
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COVID-19 Crisis and the Association Between Inequality and Economic Growth Journal of Interdisciplinary Economics Pub Date : 2023-04-01 Salim Chahine, Adam Chahine
In this paper, we investigate the macroeconomic response to exogenous shocks, namely the COVID-19. We conjecture that the sensitivity of an economic system to an exogenous shock is endogenous on it...
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When an A Is NOT an A in Academic Research, or How A-Journal List Metrics Inhibit Exploratory Behaviour in Academia Journal of Interdisciplinary Economics Pub Date : 2023-03-28 Alejandro Agafonow, Marybel Perez
On account of the leverage that the Academy of Management (AOM) has, via its positioning in the highest tiers of the A-journal lists currently used to adjudicate promotions and tenure evaluations, ...
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Rationally Inattentive Behaviour with A Priori Knowledge Journal of Interdisciplinary Economics Pub Date : 2022-11-29 Jiří Dvořák, Libor Votava, Lenka Komárková, Mojmír Sabolovic, Jan Závodný Pospíšil
Purpose:To contribute to the discussion on the importance of the sense of fairness in the decision-making process according to the theory of rational inattention.Design:The study is based on an exp...
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Agricultural Export, Growth and the Poor in Africa: A Meta Analysis Journal of Interdisciplinary Economics Pub Date : 2022-11-24 David Adeabah, Simplice Asongu
Over the past decade, a growing number of studies have examined the role of agricultural export in economic growth in Africa. The literature, however, provides conflicting results about the agricul...
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Automated Economic Welfare for Everyone? Examining Barriers to Adopting Robo-Advisors from the Perspective of Explainable Artificial Intelligence Journal of Interdisciplinary Economics Pub Date : 2022-11-16 Claas Digmayer
Robo-advisors (RAs) support economic decisions for customers using artificial intelligence (AI). RAs are gaining increasing significance but lack market penetration. A significant issue is the perc...
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Emergency Responses Under COVID-19: Development Assistance, ‘Structural Violence’, and ‘Interpretive Labour’ in Samoa Journal of Interdisciplinary Economics Pub Date : 2022-10-22 Peter Blunt, Cecilia Escobar, Vlassis Missos
Data gathered in Samoa before and after the declaration of the COVID-19 pandemic on 11 March 2020 compare and contrast the nature and extent of ‘structural violence’ perpetrated by ‘egoistic’ bilat...
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The Effect of Economic Freedom on Quality of Life: Exploring the Role of Political Risk Factors in Africa Journal of Interdisciplinary Economics Pub Date : 2022-10-08 Anthony E. Akinlo, Charles O. Okunlola
This article examines economic freedom’s impact on quality of life conditional on the political risk factors in Africa over the period 1985–2016, using the Generalised Method of Moments (GMM) estim...
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Piero Sraffa—Doing ‘History in Reverse’ Journal of Interdisciplinary Economics Pub Date : 2022-10-02 Eric Rahim
This article follows a suggestion made by Piero Sraffa in the late 1920s about the writing of his book that was published in 1960—a suggestion that he did not follow. The suggestion consisted in th...
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Strategic Entry with Correlated Private Information Journal of Interdisciplinary Economics Pub Date : 2022-09-16 Rongyu Wang
This article studies how the correlation of players’ private information affects their strategic be haviour. We introduce information correlation into a static two-player strategic substitutes entr...
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Can COVID-19 Lockdown Reduce Crimes Against Women? A District- Level Analysis from India Journal of Interdisciplinary Economics Pub Date : 2022-07-31 Prarthna Agarwal Goel, Joyita Roy Chowdhury, Yashobanta Parida
In response to controlling the COVID-19 pandemic, the Indian government implemented a nationwide lockdown on 24 March 2020. We study the effect of lockdown on crimes against women. Using district-l...
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Bayesian Games with Rationally Inattentive Players Journal of Interdisciplinary Economics Pub Date : 2022-05-16 Rongyu Wang
We study how scarcity of attention affects strategic choice behaviour in a 2-player incomplete information entry game. Scarcity of attention is a common psychological character among population (Ka...
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Present Bias in Renewable Resources Management Reduces Agent’s Welfare Journal of Interdisciplinary Economics Pub Date : 2022-05-01 Marco Persichina
This article analyses the effects of myopic and present-biased preferences on the welfare of a naive agent when he/she is engaged in an intertemporal harvesting activity from a stock of renewable r...
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Determinants of Gullibility to Misinformation: A Study of Climate Change, COVID-19 and Artificial Intelligence Journal of Interdisciplinary Economics Pub Date : 2022-04-02 Sven Gruener
This article explores whether susceptibility to misinformation is context-dependent. For this purpose, a survey experiment has been conducted in which subjects from Germany had to rate the reliabil...
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Why Is Friday Better than Sunday? Journal of Interdisciplinary Economics Pub Date : 2022-03-29 Sergio Da Silva, Raul Matsushita, Eduarda Korzenowski
We present survey evidence that most people prefer Friday to Sunday. Moreover, we pit against one another two explanations for this fact, the joy of anticipation hypothesis and the Weber law. Accor...
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The Choice of Contract-enforcement Institutions: A Review Journal of Interdisciplinary Economics Pub Date : 2022-03-27 Indervir Singh
All public- and private-order institutions have strengths and weaknesses when it comes to the enforcement of contracts. In general, the availability of a low-cost legal system and multilateral repu...
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Corruption and Misery Index in Nigeria: Is There a Link? Journal of Interdisciplinary Economics Pub Date : 2022-03-27 A. Enisan Akinlo
The study examines the impact of the misery index on corruption in Nigeria over the period 1980–2018 using the autoregressive distributed lag model. The results confirm the long-run relationship be...
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Late Nineteenth and Early Twentieth Century Social Feminism and Women’s Suffrage: A Female–Male Net Nutrition Comparison using Differences- in-decompositions Journal of Interdisciplinary Economics Pub Date : 2022-03-27 Scott Alan Carson
When other measures for economic welfare are scarce or unreliable, the body mass index (BMI) is a biological measure that reflects current net nutrition. This study uses a difference-in-decompositi...
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Exchanging Obligations: Accounting for All Forms of Capital Journal of Interdisciplinary Economics Pub Date : 2022-03-25 David Blockley
Economics and engineering have much in common since both are concerned with making decisions to act, based on evidence from many sources including science. An analysis of financial trading from an engineering-systems perspective leads to a theory of obligations as a means of capturing natural, social and human capital. The treatment is based on an analogy between gravitational and electromagnetic fields
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Causal Entropic Forces, Narratives and Self-organisation of Capital Markets Journal of Interdisciplinary Economics Pub Date : 2021-08-30 Romain Bocher
The intersubjective markets hypothesis is revisited with respect to causal entropic principles. While the financial system is assumed to naturally evolve towards uncertainty, a spontaneous and unstable form of order emerges, thanks to narratives, leading to self-organised criticality. This article also includes a discussion about main hypotheses in finance, about the link between volatility spikes
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How A Social Enterprise Wanes: The Transaction Costs of Credible Commitments at Etsy.com Journal of Interdisciplinary Economics Pub Date : 2021-08-28 Alejandro Agafonow, Marybel Perez
This article fathoms how a social enterprise wanes by applying the construct of imperative credible commitments from transaction cost economics to the case of Etsy.com, an online marketplace created to connect artisans and craftwork enthusiasts. In the absence of imperative credible commitments, Etsy’s social mission was bound to change, leaving the company’s major stakeholders without safeguards to
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A Concept of Two Authors: Commons and Williamson on Transactions Journal of Interdisciplinary Economics Pub Date : 2021-08-27 Sebastião Neto Ribeiro Guedes, Rodrigo Constantino Jeronimo
The idea of transactions in social sciences was conceived by John Rogers Commons in the beginning of the 1920s, representing a mental instrument capable of describing capitalism and its peculiarities. On the other hand, Oliver Williamson’s approach in late 1970s reduced the concept to the mere transfer of goods and services in institutions that are or are not guided by the price system. The aim of
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Separation Theorems in Econometrics and Psychometrics: Rasch, Frisch, Two Fishers and Implications for Measurement Journal of Interdisciplinary Economics Pub Date : 2021-08-23 William P. Fisher, Jr.
In 1959, Ragnar Frisch prompted Georg Rasch to formalise a separability theorem that continues today to serve as the basis of a wide range of theoretical and applied developments in psychological and social measurement. Previously unnoted are the influences on Rasch exerted by Frisch’s concerns for data autonomy, model identification and necessary and sufficient conditions. Although Rasch acknowledged
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A New Institutional Economic Perspective on Alternative Governance Mechanisms at the Local Government Level Journal of Interdisciplinary Economics Pub Date : 2021-08-23 Joe Wallis, Syed Rizvi
The ‘new institutional economics’ (NIE) can go a long way towards comprehending the emerging complexities of local government. As local bodies seek to forge collaborative partnerships with other organisations, they have to decide whether to solve horizontal co-ordination problems through market, hierarchy or network mechanisms. NIE can show that where other governance mechanisms are incomplete or subject
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The Intersubjective Markets Hypothesis Journal of Interdisciplinary Economics Pub Date : 2021-08-05 Romain Bocher
This study aims to introduce a new theoretical framework for capital markets understanding, reconciling findings from various disciplines such as anthropology, psychology, biology, statistics and physics. Assuming intersubjectivity to be the main driver of interactions between participants, the concept of market narrative is defined as subculture (or ideology) that influences the way investors react
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Tribalism and Finance Journal of Interdisciplinary Economics Pub Date : 2021-08-05 Oasis Kodila-Tedika, Simplice A. Asongu
We assess the correlations between tribalism and financial development in 60 countries using data averages from 2000 to 2010. The tribalism index is used to measure tribalism whereas financial development is measured from perspectives of financial intermediary and stock market developments. The long-term finance variable is stock market capitalisation while short-run variable is private and domestic
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Weight Status and Depression in Italy: Evidence from the Second Wave of the European Health Interview Survey Journal of Interdisciplinary Economics Pub Date : 2021-08-03 Adriana Barone, Cristian Barra
This study tests the association between weight status and depression in Italy using the Second Wave of the European Health Interview Survey (EHIS2) microdata, which also provide information on weight/height and eight depressive symptoms. Using a probit regression, the empirical results show a strong positive association between weight status, proxied by body mass index, and sleep troubles and eating
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Demographic Variables, Delay Discounting Models and Dysfunctional Personality Traits as Predictors of Financial Risk-Tolerance Among Community-Dwelling Italian Adults Journal of Interdisciplinary Economics Pub Date : 2021-08-03 Antonella Somma, Rebecca Sergi, Chiara Pagliara, Clelia Di Serio, Andrea Fossati
To evaluate the effect of demographic variables, delay discounting and dysfunctional personality traits on financial risk tolerance (FRT), 281 community-dwelling adults were administered the Italian translations of the Risk-Tolerance Scale (RTS), Monetary Choice Questionnaire, Probability Discounting Questionnaire, and Personality Inventory for DSM-5-Short Form (PID-5-SF) self-report questionnaires
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How Do Human Resource Management Practices Affect Innovation of Small- and Medium-sized Enterprises in a Transition Economy? Journal of Interdisciplinary Economics Pub Date : 2021-08-03 Vu Hoang Nam, Hiep Ngoc Luu
Small- and medium-sized enterprises (SMEs) are one of the engines for inclusive economic growth. Yet little is known about the contribution of human resource management (HRM) practices to the success of SMEs. This study empirically examines how HRM practices determine different categories of innovation of SMEs in the context of a transition economy. Using a longitudinal dataset and applying the instrumental
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Access to Information and Other Correlates of Vote Buying and Selling Behaviour: Insights from Philippine Data Journal of Interdisciplinary Economics Pub Date : 2021-08-03 Tristan Canare, Ronald U. Mendoza
Access to information is a key factor influencing political behaviour and decisions. Recent studies on vote buying and selling have tried to unpack the possible drivers behind this phenomenon; yet, few studies have empirically examined the role of different sources of information. This study contributes to the nascent literature in this area by turning to a unique dataset from a survey of low-income
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Exploring the ‘Partial Connections’ between Growth and Degrowth Debates: Bhutan’s Policy of Gross National Happiness Journal of Interdisciplinary Economics Pub Date : 2021-07-27 Katsu Masaki
Debates on degrowth have emerged with the realisation that the existing growth-oriented economic order has infringed upon our biosphere’s limits and human wellbeing. This must be rectified in favour of a more sustainable and equitable order through the promotion of green, caring and communal economies, as pointed out by degrowth advocates. However, these advocates argue for abandoning economic growth
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Family Size, Household Wealth and Socio-economic Status Across the Body Mass Index Distribution During US Economic Development Journal of Interdisciplinary Economics Pub Date : 2021-04-26 Scott Alan Carson
Households behave systematically in family planning and intra-household resource allocation. A neglected area in historical health studies is the relationship between body mass index (BMI), health and family size. Using robust statistics and a large nineteenth-century BMI data set, this study uses an overlapping generations model to explain resource allocation within the household and illustrates that
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Elderly Labour and Unemployment Journal of Interdisciplinary Economics Pub Date : 2021-03-26 Minoru Watanabe, Masaya Yasuoka
Several reasons underlie the increased labour participation of older people in Japan. One reason is the subsidy for the labour supply of elderly people. This article presents an examination of how this subsidisation of the labour supply of elderly people affects the labour participation of young and elderly people and unemployment. Consequently, an aging society brought about by an increase in the
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Exploring the Link Between Wages and Psychological Capital Journal of Interdisciplinary Economics Pub Date : 2021-03-22 Jason Beck
Traditional Mincer-type hedonic wage equations typically fail to account for the effect of psychological capital, in part because such factors are often regarded as unobservable. This article incorporates a measure of psychological capital (specifically, self-esteem) that has been validated in the psychology literature into an otherwise typical hedonic wage model. Then, the sample is divided into race
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Economic Ripple Effect: The Effect of Public Transfer Payment Policy in Malaysia Journal of Interdisciplinary Economics Pub Date : 2021-03-15 Muhammad Adli Amirullah, Mario Arturo Ruiz Estrada, Mohamed Aslam
This article models the interconnection between the public transfer payment policy in Malaysia and the overall Malaysian economy using an inter-linkage coordinate space. This space is represented graphically, with the public transfer payment distribution in the centre and the number of periods plotted along rays (axes) that are drawn from the centre, each of which can have as many windows as required
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Do Firm Growth Models Work in Service Industries in Developing Economies? An Investigation of the Relationship Between Firms’ Growth, Size and Age Journal of Interdisciplinary Economics Pub Date : 2021-03-11 Boby Chaitanya Villari, Balaji Subramanian, Piyush Kumar, Pradeep Kumar Hota
Growth models such as Gibrat’s law and Jovanovic’s theory that examine the relationship between the firms’ growth, age and size have either been tested on data from developed economies or from the manufacturing sectors in developing economies. This study checks the suitability of these models in service sectors in developing economies as service sectors have distinct characteristics and developing
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A Theory of Relativity of Cultures, Incomes and Happiness Journal of Interdisciplinary Economics Pub Date : 2021-01-29 Tobias F. Rötheli
The concepts of cultural relativism (introduced by Franz Boas) and hedonic relativism (introduced by Richard Easterlin) are reference points of a theory that addresses international differences in per capita incomes and variations in the contribution of income to happiness. The pivotal concept in this study is diligence. Painstaking effort, that is, diligence, is needed to produce high quality goods
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A Simplified Measure of Investor Risk Aversion Journal of Interdisciplinary Economics Pub Date : 2020-09-17 John Grable, Eun Jin Kwak, Martha Fulk, Aditi Routh
This article introduces a simplified measure of investor risk aversion. The singleitem question combines elements from revealed preference and propensity measurement techniques in a way that matches traditional constant relative risk-aversion estimation procedures. Based on survey data from 500 investors living in the United States, scores from the proposed measure were found to correlate with other
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The Gender Gap: Looking at the Entire Distribution Journal of Interdisciplinary Economics Pub Date : 2020-09-15 Yanay Farja, Avi Tillman, Ori Zax
We propose a new method of estimating wage differences among individuals from different populations, which is based on looking at the distribution of fixed effects from a wage regression. We use this method to compare males’ and females’ wage distribution at different levels of education and at different ages. In most cases, unobserved, time-constant factors increase the wage of males, compared to
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Interdependences Between Cryptocurrencies: A Network Analysis from 2013 to 2018 Journal of Interdisciplinary Economics Pub Date : 2020-09-15 Christophe Schinckus, Dang Pham Thien Duy, Nguyen Phuc Canh
Through a data-driven analysis, namely network analysis, we investigate the relationships between all existing cryptocurrencies. Starting from the analysis of cryptocurrencies in 2013, we extend our study until July 2018 to study the interdependencies between 1636 cryptocurrencies. Our study shows that, although Bitcoin is the older and the most famous cryptocurrency, it does not appear as an influential
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Maps of Behavioural Economics: Evidence from the Field Journal of Interdisciplinary Economics Pub Date : 2020-08-23 Snorre Sylvester Frid-Nielsen, Mads Dagnis Jensen
Behavioural economics is a research agenda, which gradually has moved from the periphery to the centre of the discipline of economics. The rise of behavioural economics has fostered a burgeoning number of studies dealing with the past, present and future of the field. In contrast to these studies which focus on predestinated scholars, outlets and key concepts, this article uses exploratory bibliometric
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A Behavioural-economic Perspective on Conflicts of Interest Among Shareholders, Debtholders, and Directors Journal of Interdisciplinary Economics Pub Date : 2020-07-17 Daisuke Asaoka
Corporations have conflicts of interest among shareholders, debtholders and directors, and, corporate law gives each party avenues to pursue others, while protecting themselves. While debtholders are exposed to excessive risk-taking by directors and abuse of limited liability by shareholders, they are protected by legal institutions like directors’ liabilities to third parties and piercing of the corporate
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Conflict–Poverty Relationship in Africa: A Disaggregated Approach Journal of Interdisciplinary Economics Pub Date : 2020-07-12 Olalekan Charles Okunlola, Ifeanyi Gerald Okafor
This article investigates the conflict–poverty relationship in Africa between 1980 and 2015. Conducting a panel regression, we test the effect of disaggregated conflict on the poverty index (POV) and indicators in Africa. Conflict causes poverty in Africa, and not the other way round as many studies have suggested. We also found that internal conflict causes poverty in Africa; it increases the poverty
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Quantifying Value with Effective Complexity Journal of Interdisciplinary Economics Pub Date : 2020-05-21 Maxwell Murialdo, Arturo Cifuentes
We present a new economic theory of value based on complexity theory. For simplicity, we call this theory ‘complexalism’ (a portmanteau of ‘complexity’ and ‘capitalism’). Complexalism is a framework that establishes valuations by quantifying the present and future complexities of objects and their surroundings. This framework reparameterises questions of economic value into more objectively addressable
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India in the Rise of Britain and Europe: A Contribution to the Convergence and Great Divergence Debates Journal of Interdisciplinary Economics Pub Date : 2020-05-10 Prabir Bhattacharya
This article discusses the role of the British control of India in the rise of Britain and Europe as well as in the convergence in incomes within the Atlantic economy in the late nineteenth century. Britain was at the apex of the world economy throughout most of the nineteenth century. The article argues that the emergence of Britain as the apex economic and political power depended on her control
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Altruism and Structure of Values: An Experimental Investigation Journal of Interdisciplinary Economics Pub Date : 2020-03-07 Luca Gandullia, Emanuela Lezzi, Paolo Parciasepe, Lidia Siri
Individual structure of values explains many behaviours that people consciously undertake when setting goals for themselves, both in personal and social dimensions. Altruistic behaviours may be influenced, for example, by personal concerns for the well-being and interests of others that fit into a broader framework of values. We use an online experiment to explore how donors (pure altruists, warm-glow
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Development Undone: Weber, Kafka and the Organisation of Supply-Side Vested Interests Journal of Interdisciplinary Economics Pub Date : 2020-02-27 Peter Blunt
Based on primary empirical evidence from six Asian countries at different stages of development, it is argued, first, that at the national point of delivery supply-side development assistance, organisations routinely behave in a manner that is antithetical to development, contradict their stated intentions and the principles of good governance that they claim to uphold (bureaucratic misrepresentation
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Introduction Journal of Interdisciplinary Economics Pub Date : 2020-01-31 Prabir Bhattacharya, Takahiro Sato
This special issue mainly presents the work of a number of Japanese scholars working on the South Asian economic development. The articles were originally presented at the Edinburgh-Kobe dialogue on the Economic Development in South Asia held in Edinburgh in May 2018 and organised by the Heriot-Watt University and the Research Institute for Economics and Business Administration at Kobe University,
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Why India Is Not Quite a Part of the Asian Miracle Journal of Interdisciplinary Economics Pub Date : 2020-01-31 Meghnad Desai
This paper seeks to explain the low growth trajectory of India vis-a-vis East Asia in a historical and cultural perspective. It is argued that the Indian subcontinent was culturally separated from Buddhism and therefore from an egalitarian social possibility after the first millennium CE. A brief history of Indian economic development since independence is provided in light of the introductory historical
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Trustee, State and Stakeholder: Hindu Temple Management in Contemporary India, 1957–2012 Journal of Interdisciplinary Economics Pub Date : 2020-01-31 Tetsuya Tanaka
The literature on temple management in colonial and post-colonial India focusses on the dominant role of the trustees and the impact of state intervention. However, this article tries to grasp significance of the role of the stakeholders in the temple management as a bridge between the trustees and the state by analyzing the management history of the Rani Sati temple from 1957 to 2012. It will first
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Modinomics 1.0 and the Indian Economy Journal of Interdisciplinary Economics Pub Date : 2019-12-09 Hideki Esho
In this study, we recapitulate the economic policies/measures implemented by Narendra Modi in his first five-year term (2014–2019), referred to as ‘Modinomics’. It rests on two pillars, namely growth strategy and anti-poverty programmes, represented by the ‘Make in India’ and ‘JAM trinity’ initiatives, respectively. Further, we assess the economic performance achieved in his first term. Macro-economic
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The TRIPS Agreement and the Pharmaceutical Industry in India Journal of Interdisciplinary Economics Pub Date : 2019-12-05 Atsuko Kamiike
The World Trade Organization’s (WTO’s) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) calls for the harmonization of intellectual property rights (IPRs) regulations across all WTO member countries. The TRIPS Agreement requires all WTO member countries to adopt and enforce minimum standards of intellectual property. It was assumed that the introduction of pharmaceutical
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Productivity Dynamics and Rural Industrialization in India Journal of Interdisciplinary Economics Pub Date : 2019-12-03 Takahiro Sato, Aradhna Aggarwal
Since the late 1990s, industrialization in India has been driven by the rural organized manufacturing sector. This paper examines the effects of firms’ dynamics on rural industrialization in India, using plant-level panel data, to investigate the characteristics of rural industrialization in India in recent years. In particular, the paper focuses on productivity differences among continuing, entering
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The Gender Gap in Market Work Hours Among Canadians: Examining Essential(ist) Linkages to Parenting Time and Household Labour Hours Journal of Interdisciplinary Economics Pub Date : 2019-11-14 Tom Buchanan, Adian McFarlane, Anupam Das
Using 2015 Canadian time diary data, we analyse how the gender gap in market work hours is linked to gender inequality in parenting time and household labour hours (N = 2,296). Among Canadians who are 15–34 years of age, we examine three family groupings, single without children, married without children and married with children. For the married with children group, we focus on respondents with at
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Ego Depletion May Explain Gender Differences in Multitasking Journal of Interdisciplinary Economics Pub Date : 2019-10-30 Sergio Da Silva, Raul Matsushita, Rafaela Ludwig, Luiggi Bellincanta
We replicate the finding that females perform better than males in the task switching type of multitasking. We also find that multitasking impairs cognitive reflection through ego depletion, regard...
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The Impact of Financial Crises on the Asset Allocation: Classical Theory Versus Behavioral Theory Journal of Interdisciplinary Economics Pub Date : 2019-09-17 Amen Aissi Harzallah, Mouna Boujelbene Abbes
The aim of this article is to compare the portfolio optimization generated by the behavioral portfolio theory (BPT) and the mean variance theory (MVT) by investigating the impact of the global financial crisis on the asset allocation. We use data from the Canadian Stock Exchange over the 2002–2015 period. By comparing both approaches, we show that for any level of aspiration and admissible failure
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‘I Gave You More’: Discretionary Power in a Corruption Experiment Journal of Interdisciplinary Economics Pub Date : 2019-08-04 Hans J. Czap, Natalia V. Czap
Bribes are gifts that are given with an expectation of favourable treatment from a public official or an authority figure. In some cultures, gift giving is a widely accepted part of social interaction and the rejection of gifts may be frowned upon. The purpose of this article is to investigate whether and how the (in)ability to reject gifts/bribes impacts corrupt behaviour. We present the results of
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Dimensional Analysis in Economics: A Study of the Neoclassical Economic Growth Model Journal of Interdisciplinary Economics Pub Date : 2019-07-24 Miguel Alvarez Texocotitla, M. David Alvarez-Hernández, Shaní Eneida Alvarez-Hernández
The fundamental purpose of the present research article is to introduce the basic principles of dimensional analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that underlay most models of economic growth. In particular, basic instruments from dimensional analysis are used to evaluate the analytical consistency of the neoclassical
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From Hybrid Organizations to Social-purpose Hierarchies: Toward A Transaction Cost Economics of Social Enterprises Journal of Interdisciplinary Economics Pub Date : 2019-07-10 Alejandro Agafonow
Building on Oliver E. Williamson’s work, this article lays the basis for a transaction cost theory of social enterprises. It is submitted that the more proprietary-centred the creation of value is, the lower the governance costs of economizing on bounded rationality to protect patrons from the hazard of opportunism. Since not all productive activities can be organized within the range of the lowest
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Piero Sraffa: Making a Revolution in Economic Theory Journal of Interdisciplinary Economics Pub Date : 2019-04-24 Amiya Kumar Bagchi
Ajit Sinha, A Revolution in Economic Theory: The Economics of Piero Sraffa, New York, NY: Palgrave Macmillan, 2016, pp. xviii–244.