Journal of Global Economics

This article develops a pragmatic theory of global-national nature that founds economy on science education and assessment quality as the postmodern brain power. Should be built on well-established science and technology education and evaluation in schools, universities and other skill-training institutions, the economy will not encounter dramatic fluctuations in its growth and expansion.

This article innovatively elaborates on two entirely useful and harmful angles of science education in building growing economy nationally and globally. Static economy-demolishing schooling versus accountable and moral economyflourishing mentorship is delineated from a science edification philosophy. Generating moral figures and perceptions from scientific and educational discoveries must be globally pursued. This is key to maintaining an expanding nature for science-founded economy and to establishing national and international peace and prosperity.

The Real Development Index (RDI) is a conglomerate index that measures and compares countries’ level of development. The RDI takes into account various economic, social and environmental factors that other economic or human development indexes fail to do. Data for the index is relevant for the year 2014, and compares 110 countries using a variety of hard data and survey data. The index is comprised of three sections to measure a country’s level of development: 1. Law and Stability, 2. Quality of Life, 3. Economic Development.

This paper investigates the relationship between the global oil price and Israel economy based on a quarterly time series data from 1988:Q3 to 2013:Q4, using the method of Vector Error Correction Model (VECM) by using a number of lags for six endogenous variables and a dummy variable. The results show that there is no significant impact of oil price shocks on Israel GDP. It’s found that the global oil price is exogenous to Israeli economy and that Israel is not materially affected by oil prices and the economy is not affected in times of rising oil prices.

In global perspective, it is an incontestable fact that the progress of a nation is highly dependent on the education of their citizens. Education plays a central role and has a cross cutting impact on all aspects of human life. It is a vital investment for human and economic development. The main purpose of this study is to explore the causes of students drop outs and their impact on economy. This research find outs the reasons of dropouts in Pakistan and more importantly comparative analysis of the causes of students dropouts globally. The findings of this study are drawn from the extensive literature review of students’ dropout in different countries. Financial problems, parents’ unwillingness, distance and lack of basic facilities, bad quality of the education, inadequate school environment and building, overloaded class rooms, improper languages of teaching, carelessness of teachers and security problem in girls school are found as major causes of student dropouts in different countries. This study also find outs the effects of students dropouts on economy and suggest some remedial measures to reduce students’ dropouts. Study also has some policy implications for policy makers to combat this problem, such as free education program, curriculum adjustment, teachers training workshops, provision of all facilities in schools.

The paper attempted to analyze Trade volume in seven major agricultural products in Ethiopia. The data revealed in most cases the volume of export is less than volume of import. Trade balance and exchange rate based on impulse response function and the forecast error variance decompositions. The short run effect of devaluation can be captured by the impulse response functions. Impulse response results show that trade balance in Ethiopia after real depreciation of currency follows J-curve patter. More importantly the obtained estimates suggest that upon real depreciation in the first three years trade balance deteriorates (‘short run’) and subsequently improves. The forecast error variance decomposition for each variable reveals the proportion of the movement in this variable due to its own shocks versus the shocks in other variables. Further information on the linkages between the trade balance and its determinants can be obtained from variance decompositions, which measure the proportion of forecast error variance in a variable that is explained by innovations (impulses) in itself and the other variables. Discussion was conducted on analyzing trade balance variance decomposition over a period of 10 years. The variance decomposition of trade balance reveals that changes in its own shock, trade balance is the predominant source of variation in the logarithm of trade balance. The result showed own series shock of trade balance explain most of the forecast error variance of the series in both based on VAR and VECM. The change in the real effective exchange rate represents the second source of variation in trade balance with a percentage of 1.4%, and 1.28% in the second and third year forecast horizons based on VAR respectively. Finally, the results also prove the relative ineffectiveness of the industrial production index in affecting trade balance in Ethiopia based on both in VAR and VECM.

This study investigates the effect of women’s bargaining power on household’s ownership and amount of savings in Ghana. Unlike previous empirical studies, this study considers the differences in preference among household members that leads to bargaining over allocation of resources in the household. To achieve the objective of this paper, the fifth round (2005) of the Ghana Living Standards Survey was employed. Women’s bargaining power is measured as the share of woman’s education among the couple. Probit and Heckman two-stage estimation techniques are employed. The latter is justified, in view of potential sampling selection bias in the annual savings model. The main finding is that, an increase women’s bargaining power engenders a corresponding increase in the probability of ownership of savings account and amount saved. We therefore recommend that, one of the strategies to improve household savings habit in Ghana, is through empowering women via better education.

New opportunities for global enterprise collaboration are leading into an Information and Communications Technology (ICT) era of network ubiquity through the development of new cooperative cyber-processes, which will provide the ability to deliver real-time integration capabilities. This move is supported by interconnected clouds computing with the idea of extending interoperable software and hardware environments from a physical to a virtual infrastructure. Whilst the Internet and cloud technology are indispensable for the operation and collaboration of modern enterprises, they remain nevertheless, at the level of cloud-enabled databases and IT software integration. They fall far short of the knowledge that is relevant for collaborative creation and operation. This paper aims to introduce and develop the concept of a Cloud Knowledge-Oriented Collaboration Systems (cKOCS), which combines cloud computing, the knowledge community, self-learning knowledge and rule-based moderator technology for global collaborative networks. The cloud knowledgeoriented collaboration system must facilitate the effective and efficient transmission of knowledge with the right expertise and those that enable connections with the right information, enable ad-hoc collaboration, provide a platform to establish real-time notification and awareness in collaborative situations and support collaborative enterprises decision making among participations.

This paper aims to analyze the impact of horizontal (intra-industry) and vertical (inter-industry) R&D spillovers on trade flows in differentiated products and hence, on the pattern of international trade. We consider that such approach presents a high added value both theoretically and empirically seen that the horizontal and vertical nature of R&D spillovers has not been studied enough in the literature on the one hand, and on the other hand, the integration of product differentiation into our analysis as a potential vector of competitive advantages and generator of a favorable competitive position.

Consumer centric marketing style is predominant in the durables, which in turn revolves around the consumer purchase attitude. It is known that consumer attitude is a learnt predisposition to respond to an object or act consistently in a favorable or unfavorable manner and is shaped by one’s values and beliefs which are learnt. Only by changing the consumer’s attitude can they be influenced to enact a merchandise transaction in the marketing mileau. Hence the importance of attitude change is of paramount importance to marketers who are consumer focused in the modern age often customizing the products/services to match the tastes of the consumer by proper positioning and targeting strategies. Consumer segments may be urban or rural based on the peculiarities/residential location and outlook / lifestyle characteristics of the consumer. In this paper, an evaluation of the urban and rural consumer purchase attitudebehavior, a comparative study of various facets with special reference to consumer durables (both white and brown goods)withthe sample frame of middleclass working women families of Ernakulam (Kochi), the premier test marketing site in Kerala, is attempted herein. Based on the rich findings, the future strategies in market segmentation andmarket mix can be redesigned to match with current consumer tastes.

This analysis studies closely education affordability through the epistemology of emergency loan need that signals economic challenges on the horizon for domestic and international students seeking a post graduate credential at any cost. Prior studies have been very helpful; however, to the best of our knowledge there is not a comprehensive study that has investigated the comparison of small vs. large emergency student loans taken out by graduate students. Also, to the best of our knowledge and to date there are no studies that have investigated the patterns and relationships among ethnicity, gender, marital status, degree type, and college awarded for both small vs. large emergency loans. To fill the gaps in the literature, we conducted our research by collecting datasets from 335 graduate students enrolled in a large public university located in North America. Our data analysis provides strong indicators and evidence that both small and large emergency loan needs exist in a diverse spectrum of colleges, degree types, ethnicities, genders, ages, and marital statuses. Also, the regression analysis indicates that there is not a significant relationship between GPA and emergency loan needs for both small and large loans. We also, used data mining technique to investigate patters and relationships among ethnicity, gender, marital status, degree type, and college awarded for both small vs. large emergency loans. Our study contains vast research and managerial implications for both academia and top managements.

This study examined the role played by foreign direct investment and business environment on economic growth. The sample contained 39 Sub-Saharan African countries divided into two groups, 21 low incomes and 18 middle incomes from 1992 to 2012. The findings of pooled mean group estimator (PMG) revealed that the impact of foreign direct investment on economic growth was negative and statistically significant in low income and middle income countries. This result implies that more foreign direct investment harms economic growth in Sub-Saharan Africa. In addition, the business environment appeared to have different impact on economic growth with respect to the income level.

This study investigates the evolution of the competitiveness level of the Greek sea bream exports in the EU-27, by implementing the Revealed Export Competitive advantage index. In particular, the major importing and exporting countries of gilthead sea bream were identified. Results reveal that the main importing markets of the Greek sea bream are Italy, France, Portugal, Spain, United Kingdom and Germany. Also, an important emerging market is Romania. While, competing countries are Spain, Turkey, France, Italy, Malta and Croatia. However, the level of competition, among the exporting countries, is continuously changing, indicating a high competitive market environment. Thus, policy and marketing strategies should be cautiously designed, in order to fulfill the rapid changes at this demanded market.

Author propose an S-shaped utility function of consumption which, combined with a heterogeneous agents and external habit setting, it’s well the first order moments of the American financial and macroeconomic time series relevant for the equity premium puzzle in the second half of XX century. The average relative risk aversion of the agents remains in the 0-3 range. The shape of the utility and its relative risk aversion function of consumption suggest an explanation for the 2008 suprime crash.

This article discusses ethnicity and socio-cultural complexity in governance, political systems, and bureaucratic institutions in South Sudan. Using the partially thematic and content analysis of the grounded theory analysis, the major themes and categories outline patterns of cultural norms and values in the absence of national identity that affects the pace of sustainable peace, economic development, good governance, and democratic transformation in the country. The outcome suggests that South Sudan continues to face multi-faceted socio-cultural, political, and economic challenges in its transition from ethno-centric system to viable democratic governance. This includes a genuine quest for nation-building transformation to a viable state, establishment of functional system, security, and rule of law and order in the country. The outcomes suggest that South Sudan Policymakers has paid minimum attention in eradication of poverty, high illiteracy rate and dogmatic ethnic values. Nonetheless, the country is in a dire need for traditional and cultural peace-building process among various ethnic-groups and communities as a corner stone for a sustainable socio-economic and political development.