Measuring human development: a stochastic dominance approach

We consider a weighting scheme that yields a best-case scenario for measured human development such as the official equally-weighted Human Development Index (HDI) using an approach that relies on consistent tests for stochastic dominance efficiency. We compare the official equally-weighted HDI to all possible indices constructed from a set of individual components to obtain the most optimistic scenario for development. In the best-case scenario index education is weighted considerably more than the other two components, per capita income and life expectancy, relative to the weight that it gets in the official equally-weighted index. It also turns out that the improvement in the official HDI is mainly driven by improvements over time in the education index, the component moving fastest relative to its targets, when compared with per capita income and life expectancy. We find that the best-case scenario hybrid index leads to a marked improvement of measured development over time when compared with the official equally-weighted HDI.     

Are Aid Flows Excessive or Insufficient? Estimating the Growth Impact of Aid in Threshold Regressions

Existing empirical studies and policy reports provide ambiguous results on the growth effect of foreign aid flows in the recipient countries. The present paper examines whether there exists an aid threshold that determines the growth impact of foreign aid. We use a threshold regression methodology to estimate growth specifications and the associated aid thresholds in a sample of 42 aid recipients covering the period 1970–2000. Our findings indicate that there is a threshold level of aid, above which the growth impact of aid becomes positive.     

Agritourism networks: empirical evidence from two case studies in Greece

This study investigates the characteristics of informal agritourism-related networks within destinations with the help of social network analysis by measuring macro and meso structural aspects of networks in two tourist destinations in Greece with different geographic characteristics: an island-Lesvos (in North Eastern Aegean) and a continental locality-Plastiras Lake (central part of Greece). The main objective is to illustrate and discuss quantitative and qualitative aspects of these networks with selected actors who are linked (directly or indirectly) with the agritourism sector through personal in-depth and semi-structured interviews. The quantitative aspects include: quantity of links, spatial extent of networks, type of relationship, its “thickness”, the duration of the relationship, issues of seasonality as well as satisfaction of the cooperation. The qualitative aspects include the type of relationship of the actors over the link and who (if anyone) has “control” over this relationship. The main findings indicate that the examined networks are partially affected by the geographic characteristics of the case studies and they are very similar in terms of absolute numbers and network metrics. Although research on networks has been an emerging and promising approach, qualitative characteristics of informal networks seem to be integral for understanding networks and planning tourism policies.     

Conceptualising ‘shadow landscape’ in political ecology and rural studies

This paper develops the concept of ‘shadow landscape’ in order to describe the essential otherness and seemingly distinctive if ever contingent properties of in-between rural places characterised by historical depopulation and cultural marginalisation. It does so first of all through a critically sympathetic assessment of how these areas have been portrayed in the fields of political ecology and rural studies. In political ecology, reference has long been made to ‘depopulated areas’ whereas in rural studies there has been recently talk of ‘marginal cultures’. The result tends to be a ‘pre-given socio-spatial container’ (Zimmerer and Bassett, 2003) that often obscures more than it reveals about these distinctive locations. The paper thereafter outlines the concept of shadow landscape as a means by which to understand these areas, and does so via a discussion of marginality, scale, socio-nature and ‘cultures of depopulation’. In the process, some of the key material and discursive issues that surround these ‘imagined communities’ are brought into focus. The conclusion considers a future research agenda based on an understanding shaped by the concept of shadow landscape.     

Spatial Dependence in the Residential Canadian Housing Market

The Journal of Real Estate Finance and Economics - This paper studies the spatial dependence of residential resale housing returns in ten major Canadian Census Metropolitan areas (or CMAs) from...     

Modeling the effect of competition on US manufacturing sectors’ efficiency: an order-m frontier analysis

Journal of Productivity Analysis - The study applies the probabilistic framework of nonparametric frontier estimation to model the effect of competitive conditions on sectors’ production...     

Age effects on consumer demand: an additive partially linear regression model

An additive partially linear regression model is used to estimate non-parametrically the effects of total expenditure and age in the context of Engel curves and to investigate the specification and welfare interpretation of the age effects in parametric models of consumer behaviour. Empirical analysis based on data drawn from the U.K. Family Expenditure Survey shows that modelling of the effects of age requires a more sophisticated approach than that generally adopted in parametric demand analysis. It also shows that failing to adequately capture these effects can have misleading welfare implications. JEL Classification: C14, D12
L'effet de l'âge sur la demande des consommateurs : un modèle de régression additif partiellement linéaire. On utilise un modèle de régression additif partiellement linéaire pour faire la calibration non paramétrique des effets de la dépense totale et de l'âge dans le contexte de courbes de Engel, et pour enquêter sur la spécification des effets d'âge et leur interprétation en termes de bien-être dans des modèles paramétriques de comportements du consommateur. L'analyse empirique est construite sur des données de la U.K. Family Expenditures Survey et montre que la modélisation des effets de l'âge réclame une approche plus sophistiquée que celle qui est généralement utilisée dans l'analyse paramétrique de la demande. On montre aussi que le manque à bien saisir ces effets peut conduire à des conclusions fausses pour ce qui est du niveau de bien-être.     

Profitability Capital Accumulation and Crisis in the Greek Economy 1958–2009: a Marxist Analysis

Abstract

This study examines the behavior of the main Marxian variables in the postwar Greek economy. The different phases of the capital accumulation process are distinguished and analyzed according to the movement of the rate of profit. The ‘golden age’ of the 1958–74 period of high profitability and strong growth was followed by the stagflation crisis of the 1970s and early 1980s. After 1985, and especially after 1991, the ‘neoliberal solution’ to the crisis resulted in a modest recovery of profitability, capital accumulation and output growth based exclusively on the huge increase in the rate of exploitation for labor. When the stimulus to aggregate demand provided from debt driven personal consumption and state deficit spending was removed, the underlying structural crisis in the real economy manifested itself fully in 2009 and after.     

Does competition prevent industrial pollution? Evidence from a panel threshold model

The objective of this paper is to assess the impact of competition on industrial toxic pollution by using, for the first time, a panel threshold model which allows evaluations of the main drivers of toxic releases under two different market regimes. The empirical analysis is based on a micro‐level panel dataset over the five‐year period 1987–2012. We show that this relationship is statistically significant and robust above and below the threshold, even after accounting for alternative specifications of market concentration. Specifically, we unmask an inverted V‐shaped relationship between market concentration and industrial pollution. We argue that the increasing non‐parametric regression line up to a certain concentration (threshold) level indicates a negative effect on facilities' emissions levels, whereas a decreasing line indicates a positive effect. This relationship provides new insights into environmental policy design towards abatement of industrial releases and sustainability. Finally, our empirical model remains robust under different specifications properly accounted for possible endogeneity.     

Measures of Human Capital and Nonlinearities in Economic Growth

In this paper we study the relationship between human capital accumulation and economic growth using various measures of human capital frequently employed by researchers. We use semiparametric estimation techniques to uncover any nonlinearities that may exist. Using mean years of schooling measures of human capital we find a nonlinear effect on economic growth. There seem to be important differences in the growth effect of educational attainment by gender and level of education. Enrollment rates do not yield a nonlinear effect.