ABSTRACT This study investigates the capability of innovation in India from a neo-Schumpeterian perspective, mainly focusing on the non-R&D aspects. We choose this focus for three reasons: (i) Based on our exploratory analysis, the investigation of innovation needs to go beyond the R&D effort (of manufacturing firms); (ii) R&D outlays alone may not fully explain innovation, particularly in resource-scare

ABSTRACT The paper explores the idea that the success of the Korean government’s non-pharmaceutical interventions in response to the COVID-19 epidemic can be better understood through the lens of industrial policy framework than many descriptive public policy literatures that have merely focused on administrative efficiency. It is emphasized in this paper that the Korean government has maintained sustained

ABSTRACT The needs of tech startups for finance over the lifecycle vary from stage to stage. At the same time, the ability of a startup to obtain the required amounts of finance at different stages of its lifecycle will depend both on internal factors, and on accessible sources of finance. This study investigates the factors which enable a tech startup to obtain finance over its lifecycle based on

(2021). The first 30 years of the International Review of Applied Economics, and the future of capitalism. International Review of Applied Economics: Vol. 35, Capitalism: An Unsustainable Future?, pp. 331-337.

ABSTRACT This paper investigates the effects of government debt and deficits on long-term interest rates in 17 advanced economies over the period 1973–2016 from the perspective of currency sovereignty. The empirical findings of this paper suggest the market penalizes non-sovereign nations for the same amount of fiscal deficit with higher interest rates than sovereigns. In addition, non-sovereign countries

(2021). Interpreting the world, in various ways – and changing it. International Review of Applied Economics: Vol. 35, Capitalism: An Unsustainable Future?, pp. 626-631.

(2021). Correction. International Review of Applied Economics: Vol. 35, Capitalism: An Unsustainable Future?, pp. I-I.

(2021). Correction. International Review of Applied Economics: Vol. 35, Capitalism: An Unsustainable Future?, pp. II-II.

ABSTRACT This paper reviews a methodology for integrating the informal sector into social accounting matrices and a simple computable general equilibrium model. The model distinguishes informality according to whether the presence of the informal sector is due to capital limitations, functional informality, versus juridical informality, which may arise as an illegal or quasi-legal competitive strategy

ABSTRACT This paper examines how past pandemics impacted income inequality measured through the Gini measure of inequality net of taxes. It explores how five major pandemics, namely, SARS in 2003, H1N1 in 2009, MERS in 2012, Ebola in 2014, and Zika in 2016 impacted the distribution of income across high income, upper-middle-income and lower-middle-income countries. How the inequality across quintiles

ABSTRACT Production processes depend on fragmented and interdependent value chains; nowadays, a single product often includes components produced in dozens of countries. Many public health measures being implemented to prevent the spread of COVID-19 have dampened economic activity of ‘non-essential’ sectors. The decreased production affects other industries and countries that supply parts, machinery

ABSTRACT We demonstrate that capital controls can considerably mitigate the effects of monetary and exchange rate shocks and reduce the volatility of capital inflows to emerging countries. This study analyzed quarterly data of 32 emerging economies over the period between 2000 and 2019, and proposes two methods to identify capital control actions. Using panel analysis, Autoregressive Distributed Lag

ABSTRACT We use a micro price dataset for products defined at the universal product code level to analyze the impact on prices of a social program in Uruguay that allows its beneficiaries to purchase food, beverages, and cleaning items exclusively in certain small retailers. We find that an unintended negative consequence is that the beneficiaries pay significantly higher prices to other retailers

ABSTRACT The paper analyzes the determinants of social outreach of microfinance institutions (MFIs), using three measures of outreach – depth of outreach, breadth of outreach, and outreach to women, and its possible complementarity with financial performance. We use an unbalanced panel of 1,219 MFIs over a period of 20 years to investigate the effect of firm-specific characteristics and the impact

ABSTRACT This paper analyzes the efficacy and skepticism surrounding the economic stimulus package announced by the Indian authorities in response to the Covid-19 pandemic in 2020. While the end of the pandemic is yet to be on the horizon, countries across the world have been undertaking economic stimulus packages of varied nature, depth, and quantum. A scrutiny of these packages show that India has

ABSTRACT This paper presents a chronological survey of the 20 academic papers that Malcolm authored or co-authored between 1997 and 2017 on the flawed design – and hence flawed implementation – of the European Monetary Union (EMU)’s macroeconomic policy pillars. We augment his analyses by pointing out a third – complementary – design flaw: the EMU’s two-tiered structure of financial regulation and

ABSTRACT This article forges connections between social choice theory and inequality-measurement to deliver a series of advances to the latter. It discusses the ethical and formal aspects connecting the fields, linking the roles played by the intensity of preferences and interpersonal comparability (in social choice) and, respectively, inequality-aversion and interpersonal comparability (in inequality-measurement)

ABSTRACT This paper discusses the Brazilian economy since 2015. After an economic boom from 2005 to 2011, Brazil entered a downturn, which resulted in a strong recession in 2015 and 2016. The Economic Authorities understood that the cause of the crisis was due to an expansionary economic policy undertaken over the period 2009–2014; thereby the solution for the recession would be quite the opposite:

ABSTRACT Five sectors have increased their contribution to US GDP growth since 1973: professional-business services (PBS), finance, information, healthcare, and arts-entertainment. Among these, however, finance, healthcare, and PBS have questionable foundations for being regarded as final consumption of households. Contra published National Income and Product Accounts, treating expenditures on finance

ABSTRACT The demand for civil justice in Germany has shrunk over the last decades, although we can observe a high level of heterogeneity, with increasing and decreasing trends depending on specific case matters. The present work investigates this phenomenon, analyzing the aggregate demand for civil justice between 2008 and 2017 at the regional level, and focusing on the courts. We study the propensity

ABSTRACT South Africa has a very well-developed financial sector and high reliance on capital flows. The country saw large capital outflows as the Covid-19 crisis developed, accompanied by a large depreciation of the rand and spikes in bold yields. We employ a stock- and flow-consistent model to study the impact of capital flow reversal shocks on the South African economy. The model includes a richer

ABSTRACT A global health and economic crisis was created by the spread of Covid-19 across the world during the course of 2020 and into 2021. This Special Issue of the International Review of Applied Economics brings together papers analysing various aspects of this twin crisis. The crisis led to massive intervention by governments, both to tackle the health crisis - through lock-downs; social distancing

ABSTRACT In this note, we show that the stock markets do not always incorporate all the available information because in many cases they slowly evaluate the news. Using simple statistical analysis, we show that the response of the markets to the available information in certain time periods is irrational and inefficient. The COVID-19 outbreak gives financial economists an example of health risk underestimation

ABSTRACT In this study, we examine the efficiency of the US stock markets during the COVID-19 outbreak using a fundamental financial analysis approach, the constant growth model and a behavioral model including a Google-based Index. We juxtapose the released news and the performance of the US stock market during the COVID-19 outbreak and we show that during some periods the health risk was significantly

ABSTRACT The crisis caused by COVID-19 differs from previously crises due to its particularities. Many countries have been affected by the pandemic, although not all have acted in the same way or imposed the same level of restrictions. This paper analyses the virus containment measures carried out by some of the European countries most affected by the pandemic. It concludes that those that acted early

ABSTRACT This paper examines whether the impact of COVID-19 at the household level is an obstacle to achieving the sustainable development goals of no poverty (SDG1), zero hunger (SDG2), good health and wellbeing (SDG3) and decent work and economic growth (SDG8). We limit our investigation to farm households given their precarious situation. We analyse data from the World Bank National Longitudinal

ABSTRACT This paper analyses a broad range of macro variables to assess the effects they have on the number of cases and deaths due to COVID-19. We consider 23 explanatory variables on health, political, and economic factors for 94 countries. Given the vast number of explanatory variables analysed, the paper employs advanced statistical tools for the analysis. We use regularised regression and dimension

ABSTRACT This paper explores the design and impact on public finances of a global investment plan directed at supporting post-COVID19 reconstruction efforts by investing in climate change mitigation. We analyse current macroeconomic conditions in both developed and emerging economies and, subsequently, simulate various growth scenarios and observe the impact on public debt sustainability of implementing

ABSTRACT Under the impossible trinity, it is alleged that attempts to maintain both monetary independence and an undervalued domestic exchange rate whilst being exposed to global capital flows will culminate in macroeconomic instability. To analyse the validity of the impossible trinity in the instance of a balance of payments surplus, we first employ a number of ARDL models to investigate the potential

ABSTRACT This study examines the correlation of economic policy uncertainty (EPU) across countries and regions. Using correlation analysis, the findings reveal that some countries have a positive EPU correlation while other countries have a negative EPU correlation. The economic policy uncertainty index is positively correlated and jointly significant for EU member-countries. There is evidence of cross-regional

ABSTRACT This paper has a main ambition. It evaluates the impact of immigration on GDP per worker for ten European countries in order to fill the gap with numerous studies focusing on variables other than growth (wages, unemployment, innovation or public finances). We show that there is no obvious relationship between growth and immigration for a majority of economies. It is only when we allow for

ABSTRACT COVID-19 outbreak has resulted in the largest number of lockdowns worldwide in history. While lockdowns may reduce the spread of COVID-19, the downside costs of this approach could be dreadful. By exploiting the differential timing of lockdown implementation across the United States within a difference-in-differences framework, we find that the pandemic lockdowns are associated with a variety