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Open access

Dinar Melani Hutajulu, M. Nasir and Arwansyah

Abstract

Pakpak Bharat Regency is an area with the lowest Gross Regional Domestic Product and Income percapita from 33 regency/city in North Sumatera Province. Because of this problem, to be important to know how the base sectors can improve the economy of Pakpak Bharat Regency. In this research, the study aims: (1) To know the base sectors in the economy of Pakpak Bharat Regency (2) To know the sector clasification of Gross Regional Domestic Product (GRDP) in Pakpak Bharat Regency (3) To know how the base sectors effect the Gross Regional Domestic Product of Pakpak Bharat Regency. The data used in this study is secondary data and readings related to research. The tests used in this study are Klassen Typology, Location Quotient, and Least Square test. The research finds that: (1) the economics of Pakpak Bharat Regency is divided into several quadrants, is advanced and rapidly growing sectors (Quadrant I), advanced but depressed sectors (Quadrant II), potential sector (Quadrant III), and lagging sector (Quadrant IV). (2) sectors classified as advanced sectors in Quadrant I and Quadrant II (amounting to 4 sectors) are basic sectors in Pakpak Bharat Regency with LQ>1. (3) there is a positive and significant influence between the base sector on the GRDP of Pakpak Bharat Regency.

Open access

Garikai Makuyana and Nicholas M. Odhiambo

Abstract

This paper provides new evidence to contribute to the current debate on the relative impact of public and private investment on economic growth and the crowding effect between the two components of investment in South Africa. Using annual data from 1970 to 2017, the study applies the recently developed Autoregressive Distributed Lag (ARDL)-bounds testing approach to cointegration. The study finds that private investment has a positive impact on economic growth both in the long run and short run, while public investment has a negative effect on economic growth in the long run. Further, in the long run, gross public investment is found to crowd out private investment, while its infrastructural component is found to crowd in private investment. The results of the study also reveal that both gross public investment and non-infrastructural public investment crowd out private investment in the short run. Overall, the study finds private investment to be more important than public investment in the South African economic growth process and that the importance of infrastructural public investment in stimulating private investment in the long run cannot be over-emphasized.

Open access

Akinola Morakinyo, Colette Muller and Mabutho Sibanda

Abstract

The study builds on previous studies of the consequences of non-performing loans on an economy. Using a seven-by-seven matrix in the impulse response function (IRF) of the structural autoregressive model, we find a long-run impact of an impulse to non-performing loans on the banking system and the macroeconomy in Nigeria. Conversely, non-performing loans also respond to the innovation of all macro-banking variables aside from the exchange rate and the growth rate to GDP. Also, the level of non-performing loans grows in influence in relation to the changes to the exchange rate using the variance decomposition tool of Structural VAR. Hence, a prominent role is assigned to the level of NPLs in linking the friction in the credit market to the susceptibility of both the banking system and the macroeconomy. This study passes the serial correlation tests and the three tests of normality.

Open access

Karl Farmer and Stefan Kuplen

Abstract

Even more than eight decades since the publication of Keynes’ “General Theory of Employment, Interest, and Money” modern macroeconomists disagree on the notion of “underemployment equilibrium” with so-called “involuntary unemployment”. While the majority of macro theorists trace involuntary unemployment back to frictions and rigidities in the adaptation of wages and output prices to market imbalances, a minority position holds that even under perfectly flexible output prices and wage rates involuntary unemployment might occur. Morishima in “Walras’ Economics” and more recently Magnani presume that contrary to the majority view aggregate investment is not perfectly flexible but governed by “animal spirits” of investors. The aim of the present paper is to integrate the Morishima-Magnani approach into a Diamond-type overlapping generations’ (OLG) model with internal public debt subsequently extended by human capital accumulation. It turns out that in spite of perfectly flexible real wage and interest rate involuntary unemployment occurs in intertemporal general equilibrium when aggregate investor sentiments are too pessimistic regarding the rentability of investment in real capital. In the model extended by human capital a higher public debt to output ratio decreases unambiguously involuntary unemployment, if initially the endogenous output growth rate is higher than the real interest rate.

Open access

Susana Costa e Silva, Adriana Monteiro and Paulo Duarte

Abstract

Shoes are probably one of the most difficult products to sell online due to the high need-for-touch (NFT) displayed: people need to experiment the product before buying it, more than in any other item. On another hand, women are more prone than men to buy fashion and apparel products through the web channel. This paper investigates the factors driving women consumers to shop footwear products online. A qualitative research method was used grounded on semi-structured, in-depth interviews that were conducted to corroborate the constructs defined in the proposed conceptual model namely: convenience, recreation, NFT and social e-shopping. The interviews were focused on the demand side to understand the female consumers’ perspective and on the top managers of women’s shoes companies representing the suppliers’ viewpoint. The results show that women highly appreciate the convenience that shopping shoes online provides as well as its recreational nature. The NFT also stands out in the shoe market context mainly due to the particularities related to shoe size. Additionally, social e-shopping was found not be as important for women as anticipated as they see social networks more as a communication platform for brands, and less as a factor that influences their predisposition to shop shoes online. On the suppliers’ side, the interviews revealed that managers believe in bloggers and social media influence and its consideration as part of the overall marketing strategy.

Open access

Mduduzi Biyase and September Rooderick

Abstract

We empirically investigates the factors that affect Foreign Direct Investment (FDI) inflows in five BRICS countries for the period 1990–2015. We address the selection bias and unobserved heterogeneity by estimating a panel Heckman selection method and attempts to account for both selection and endogeneity within the new two-stage method. After addressing the above mentioned econometric issues, the infrastructure and GDP per capita variables under the new two-stage method remain positive and significantly similar to the coefficient of infrastructure and GDP per capita under the panel Heckman selection model. In addition, the inverse Mills ratio maintain its level of statistical significance, confirming the presence of both sample selection bias and endogeneity.

Open access

Marcela Tittlová

Abstract

Criminal behavior of youth is a constantly current problem. It is not a new problem, a new one emerging and exploring. In the historical context, we meet him quite early. Likewise, we are punished with the possibilities and attempts to solve it. As we are currently talking about a very topical issue, it is clear that this phenomenon is not quite at the professional and legal level. Instead, rather than the consequences, it is necessary to examine the causes of the criminal behavior of youth. Often, they are conditioned by the criminal behavior themselves against the children taking these patterns and models into their behavior and their reactions. From the point of view of the possibilities of solution, then we get completely into other areas and other spheres.

Open access

Eric Tsui and Nikolina Dragicevic

Abstract

In much of the current discussions on business environments, a recurring theme both for academics and practitioners is that it is marked by inherent uncertainty (unknown unknowns). Hence, knowledge workers must have skills and understanding of the possible ways to navigate through and adapt to constant change. However, the tendency of prevailing approaches to curriculum development to focus on (static) learning outcomes, we argue, is not appropriate to train young people to adapt to the unpredictable working environment. Instead, more dynamic approaches to curriculum are required, which would instead focus on learning as a continuous relearning and emergent process of adaptation and stimulate students' inquiry and intellectual and creative skills. This paper approaches the issue by discussing the opportunities of using scenario thinking and development together with a personal learning environment and network (PLE&N) for co-creating a curriculum with students, teachers, and practitioners in higher education. In short, the methodology underpinning scenario development recognizes that uncertainty can be best dealt with and understood from the perspective of a range of possibilities and multiple futures through a facilitated, coherently structured process. PLE&N, on the other hand, serves as a learning space which stimulates self-regulated and network-based learning. The paper contends that curriculum informed by such a design methodology would lead to more frequent and appropriate updates as well as equip students with skills to work in a volatile, uncertain, complex, and ambiguous (VUCA) environment.

Open access

Stere Stamule

Abstract

This paper investigates Romanian consumer ethnocentrism and the Romanian consumers’ attitudes towards local products and towards campaigns promoting local products. The research was conducted through a questionnaire addressed to a sample containing two groups of respondents. The sample was organized also into two groups: Millennials (consumers aged between 15 and 34 years old) and Non-Millennials (35-over 65 years old). It was tested the hypothesis that Millennials are less ethnocentric compared to the Millennials. Another hypothesis of the research consists of the fact that the Millennials consumers’ attitudes towards local products and towards local campaigns promoting local products show lower scores in comparison with the consumers belonging to the other group. The obtained results of this research highlight the following: there are not significant differences between the two groups regarding the level of ethnocentrism and their attitudes towards consumption of local products and campaigns promoting local products, however Millennials show more interest to the products that offer the best value for money whether they are done or not in Romania in comparison with Non-Millennials. The Romanian consumers would also like that the state and the industry involve more in supporting the local products.

Open access

Irina Liubertė

Abstract

In management research, theoretical abstractions, which are traditionally derived based on economic and individualist ontological assumptions, are limited in the ability to produce practically relevant insights and increase the divide between organisational practitioners and scientists. This paper argues that contemporary theory of practice, which jointly considers agency, structure and materiality, overcomes the confrontation and integrates scientific rigour with the richness of organisational practice. The author thereby introduces the origins of practice theory, analyses the definition of practice and explores the areas of management research where practice theory is currently adopted.