All things being equal, and in a truly democratic world, one will expect that the fact that women are the majority in almost every single community of the world should guarantee them at least equal control or ownership over resources and enjoy most of the rights and privileges in that particular community. But things seem not to be working that way as evidence from the literature shows that women are always relegated to the background when it comes to the issue of control or ownership over, and sometimes even access to property in most societies which include the right to own and use land. This undoubtedly has a consequence on the productive and overall development of such a community. In recent times, the issue of gender discrimination, disparities, and inequalities has attracted the attention of researchers over the past decade with enormous literature in this area. There are, however, few studies that provide a comparative analysis of the situation between two or more countries. This paper seeks to fill this void of knowledge based on a review of relevant literature on land rights with an emphasis on the situations in Kenya and Tanzania. The results have shown the prevalence of four types of land rights such as communal property rights, non or open-access property rights, state or crown property rights, and private property rights. The results have further indicated that the controversial land rights of Kenya have led to the reduction in the lands of certain groups of people, increasing land disputes, and also discriminating against women in their land rights. In the case of Tanzania, there were several cases of bias against women concerning the ownership of land, especially under the customary system of Tanzania. Issues of discrimination against women were also identified in the inheritance laws of the land which is a paramount feature within the norms and cultures of the people of Tanzania. The lack of equal access to land by women in both countries is found to harm productivity in several sectors of their economies, especially in agriculture. Policymakers are therefore admonished to ensure equal access by both genders to land as this will lead to efficiency in the management and usage of land which is certainly good for sustainability in the development of any economy.

The COVID-19 pandemic has changed the everyday ways of life across the world. The objective of this study is to understand the impacts of nationwide lockdown restrictions on female workforce of New Zealand. To conduct this study three subsets were selected: working mothers, essential workers and women in high-risk industries. New Zealand has a gender segregated workforce, and more women on the frontline as essential workers who faced risks from COVID-19. A quantitative approach based on secondary data published by the Government of New Zealand was employed in this study. The analysis was carried out under three themes: family wellbeing, essential workers and women in high-risk industries. All the themes point to the fact that the working women of New Zealand indeed have been critically impacted compared with working men.

Based on fully considering the actual differences in statistical indicators between Hong Kong, Macao, and the nine cities in the Pearl River Delta, this paper constructs a high-quality urban development evaluation system that is suitable for the actual development of the Guangdong-Hong Kong-Macao Greater Bay Area. The Entropy Weighted TOPSIS two-step method is used to process data and systematically investigate the changes in the high-quality development index of 11 cities in the Guangdong-Hong Kong-Macao Greater Bay Area from 2013 to 2020. The study found that the Guangdong-Hong Kong-Macao Greater Bay Area has thoroughly implemented the new development concept, and the level of high-quality development has continued to improve. The profound integration effect of the Guangdong-Hong Kong-Macao Greater Bay Area has appeared, and it has promoted the high-quality development of the region in coordination. The construction of the Guangdong-Hong Kong-Macao Greater Bay Area has strongly promoted the great practice of "one country, two systems" to achieve stability and prosperity.

The extensive, interdisciplinary nature of construction supply chains make them prone to inefficiencies at organisational interfaces. Inefficiencies are accentuated by the project-centric delivery paradigm, and complex logistics systems between multiple stakeholders. They manifest as a multitude of concurrent activities, processes, and systems both on and off-site. Transportation is the largest component of the logistics domain. Transport operations are inherently fragmented, intrinsic to every business, while vehicle ownership and deployment is typically externalised. Differentiated waste removal and materials delivery further disintegrate the already fragmented construction supply chain. Inefficiencies from the insularity of the planning process across segmental boundaries aggregate incrementally, with impacts visible at the macro level. Re-configuration of activities, resources and actors are acknowledged strategies for optimising logistics and transportation function. This paper investigates the impact of three integration strategies on a manufactured construction products supply chain efficiency. These strategies include vertical integration of distribution, integrated planning for transport operations, and integration of reverse logistics into operations. Sustainability impacts are evaluated according to domestically determined monetary parameters in order to benchmark performance at the business and national scale.

The long-term extensive economic development has caused China's resource and environmental problems, especially the resource misallocation. The way China prioritises its limited resources is being significantly impacted by the rise of the digital economy and the interconnectedness of new technologies and the real economy. This paper quantitatively examines the linear and nonlinear impacts and mechanisms of digital development represented by internet development. With a series of empirical tests, we found that the internet development has significantly inhibited the resources misallocation, and the conclusion is still valid in the robustness test with internet popularization and internet infrastructure as the core explanatory variables. In addition to the marketization, internet development can further inhibit resource misallocation by promoting financial development, openness, urbanization and industrial structure. The findings of threshold regression suggest that the inhibitory effect of internet growth on resource misallocation becomes more visible as the degree of financial development and industrial structure increases; with the higher degree of urbanisation and marketization, although the internet development has always played an inhibitory role on resource mismatch, the inhibitory effect first increases and then decreases; with the improvement of openness, the hindering impact of internet growth on resource mismatch becomes more visible as the degree of financial development and industrial structure increases.

Green innovation, driven by China's new development concept, plays a crucial role in high-quality economic development. In line with the green development trend, businesses increasingly prioritize whether their corporate environmental responsibilities (CER) can effectively enhance corporate green innovation (CGI) levels. This paper examines the influence and mechanism of CER on CGI using a dynamic perspective, drawing from 1,640 manually-collected panel data of Shanghai and Shenzhen A-share listed companies between 2010 and 2017. The primary findings indicate that the impact of CER on CGI possesses phase-specific characteristics and a dual effect of "crowding in" and "crowding out." The current phase of CER negatively affects green innovation, while the lag phase has a positive effect. CER's impact on various CGI types is heterogeneous: specifically, it follows an "inverted-N" trajectory (inhibition-promotion-inhibition) for "strategic green innovation" and has a promotional effect on "substantive green innovation," which is stronger and has a longer time lag. The mechanism analysis reveals that financing constraints play a critical mediating role. A heterogeneity analysis based on multiple dimensions (ownership, industry, and location) suggests that CER has a more significant driving force for CGI among state-owned firms, high-polluting industries, and enterprises in inland areas. Finally, the paper presents corresponding suggestions for government and corporate entities.

Credit markets around the world are undergoing digital transformation which has led to the rise in FinTech and BigTech lending. FinTech and BigTech lending is the provision of credit by FinTech and BigTech providers who have more capital, cutting-edge IT systems, worldwide recognition, greater online presence and are able to handle more big data on computers and mobile phones than traditional banks. FinTech and BigTech lending is growing in importance, but the determinants of FinTech and BigTech lending have received little attention in the literature. This study investigates the determinants of FinTech and BigTech lending. The study focused on the effect of financial inclusion and financial development on FinTech and BigTech lending. Using data for 18 countries from 2013 to 2019 and employing the difference-GMM and 2SLS regression methods, the findings reveal that financial inclusion and financial development are significant determinants of FinTech and BigTech lending. Financial development is a positive determinant of FinTech and BigTech lending while financial inclusion has a significant effect on FinTech and BigTech lending. Also, FinTech and BigTech lending lead to greater banking sector stability and also poses the risk of rising nonperforming loans. There is also a significant positive correlation between financial development and FinTech and BigTech lending. These findings add to the emerging literature on the role of FinTech and BigTech in financial intermediation. This research is significant because it provides insights into the role of financial inclusion and financial development in the digital transformation of credit markets.

In this work we aim to identify potential determinants and seek to predict terrorism attack. Thus, to eliminate uncertainty linked to explanatory variables we used the BMA method. We show that, contrary to expectations terrorism in MENA region is no longer purely of economic origin but mainly due to political problems, education, financial development and countries’ demographic characteristics. Likewise, we find that national, international and global terrorism are not of same origins even they present many common roots. In the end, we show that it is possible to predict majority of attacks based on a small number of indicators measuring political risk, financial development and income inequalities.

With the development of information technology and its application in environmental governance, the role of the internet in improving energy efficiency and reducing energy-saving potential (ESP) has attracted more attention. In this study, the slack-based model (SBM) and the unexpected model, along with the entropy method, were applied to measure China's energy-saving potential and internet development. Further, we empirically analyzed the direct effect, mediating effect, threshold effect, and regional heterogeneity of the internet on ESP. Our conclusion shows that there is a significant spatial correlation between internet penetration and ESP. Internet penetration has become an important tool for reducing ESP, but this effect shows regional heterogeneity. Human capital accumulation, financial development, and industrial upgrading are important influencing mechanisms, but indirect effects are weaker than direct effects. The impact of internet penetration on ESP is non-linear, and for improving human capital accumulation, financial development, and industrial upgrading, the role of internet popularization in energy conservation is more obvious.

Financial literacy seems to be more important and focused than ever. Several recent studies have found that Portugal is at bottom of the table compared to the Eurozone countries regarding financial literacy. As it’s a key factor in the development of a country, it appears to be crucial to understand what people know about financial matters when they complete compulsory schooling. With a sample of 296 Portuguese students who enrolled in the polytechnic higher education system for the first time, we studied if they understand simple concepts related to financial issues (such as loans), as well as whether they are aware of the risk of not recovering the money invested that is embedded in some of the most talked-about and common financial products that are available in the market. This last objective seems to be relevant since a lot of fraudulent schemes involving teenagers, young adults, and financial markets have emerged in recent years. From the results, some disturbing conclusions can be drawn. For instance, more than two-thirds of the sample do not know what Euribor is (similar result regarding Spread). About a third of the simple do not understand inflation’s consequences. 16,9% do not know what term deposits are, and derivative products and saving certificates are seen as very alike regarding the risk they represent. Students who chose a business-related course as their first choice when applying showed a higher level of financial literacy, although it is still low compared to what one would expect.

Green credit policy (GCP) relies on financial means to promote environmental governance. Whether it can achieve the goals of economic development and environmental protection, especially in the context of different institutional supplies, remains to be scientifically tested. Based on the implementation of China’s Green Credit Guidelines in 2012, this study uses panel data of Chinese companies from 2009 to 2019 to explore the influence of GCP on green technology innovation and the role of institutional supply in it. The results show that GCP is instrumental in promoting green innovation in heavily polluting enterprises, and the promotion effect is heterogeneous based on green patent types, firms’ ownership, and regional financial development levels. Further analysis finds that the supply of environmental protection systems by local governments can strengthen the green innovation effect of GCP. However, the institutional supply of innovation has not yet released a promotional effect. This paper finds that green credit can be used as an environmental governance tool and provides inspiration for local governments to issue environmental protection policies scientifically.

This study provides insight into CEO compensation dynamics in the public sector and private sector publicly listed firms in New Zealand. This research uses descriptive statistics, OLS regression, and the difference-in-difference method to analyze the compensation-performance relationship for the period 2005 to 2012. Our findings show that CEOs in the private sector publicly listed firms are receiving higher remuneration benefits. Our results suggest that firm sales and past compensation are the most important determinants of CEO cash-based as well as total compensation. Firms with a larger board size and the presence of a formal remuneration committee are likely to provide higher cash compensation than those without.

This paper describes two novel approaches to cost estimation of manufactured products where a data set of similar products have known manufactured costs. The methods use the notion of piecewise functions and are (1) clustering and (2) splines. Cost drivers are typically a mixture of categorical and numeric data which complicates cost estimation. Both clustering and splines approaches can accommodate this. Through four case studies, we compare our approaches with the often-used regression models. Our results show that clustering especially offers promise in improving the accuracy of cost estimation. While clustering and splines are slightly more complex to develop from both a user and a computational perspective, our approaches are packaged in an open-source software. This paper is the first known to adapt and apply these two well-known mathematical approaches to manufacturing cost estimation.

Many startups look for venture capital (VC) funding to grow their business. Anecdotally, in the Southeast Asia context, startup founders who attended an elite institute of higher learning have greater access to this kind of capital, but this has not been demonstrated quantitatively. We look at a dataset of nearly 800 startups in Southeast Asia who have received VC funding in the last 5 years and look for any correlation between the founder's educational background and the amount of VC funding received. We find that founders who have obtained a postgraduate degree from an elite university receive significantly more VC funding than those who graduated from other universities. Furthermore, this effect is only seen at later stages of funding, not at the seed stage. Potential reasons for this effect could be from stronger signaling of business acumen or technical skill; or better access to funding networks.

Bank capital requirements would entail large social costs if they made resource allocation suboptimal and banking services costly by unduly limiting the banks’ ability to lend. This paper considers three main factors that may make capital requirements relevant, namely, deposit insurance subsidies, stock valuation errors, and tax shields derived from debt financing. The theoretical model analyzes the combined effects of the three factors on the banks’ incentives to make fairly priced loans, which should also be socially optimal loans. A key finding is that the long-term cost of capital requirements is likely to be very small when deposit insurance is underpriced. Increased funding costs resulting from higher capital requirements are absorbed by shareholders of banks, rather than passed on to borrowers. Under some reasonable assumptions, higher capital requirements improve resource allocation by countervailing distortionary effects of deposit insurance subsidies. Short-term adjustment costs can still be large, but it should be relatively easy to mitigate the short-term effects.

To make an assessment of ratemaking proposals, this article proposes that regulators should consider applying a logical decision-making process, such as multi-criteria decision analysis (MCDA), that selects or modifies those rate mechanisms that come closest to achieving the public interest, as defined by regulators. MCDA seems like an fitting tool to improve regulatory decisions by making more explicit the relationship between different rate mechanisms and the public interest. This article provides a simplified version of MCDA to demonstrate how regulators can apply this tool to evaluate new rate mechanisms in terms of the public interest. As far as the author knows, the MCDA methodology applied to utility ratemaking has not appeared in the literature. While regulators may not want to or lack the resources to execute all the steps presented in this article, MCDA can provide direction to regulators in evaluating different rate mechanisms and ultimately reaching decisions that are more rational and aligned with the public interest. After all, evaluating rate mechanisms is one of the major functions of utility regulators. Doing it wrongly can have a consequential effect on society’s welfare.

Following the seminal paper on Optimum Currency Areas (OCA) by Mundell (1961) a wealth of literature has been published on the business cycles synchronisation and its main determinants. This work provides a systematic review of this research field both at country-level synchronization and regional level. The paper aims to evaluate the contribution of the related literature’s methodologies to the measurement of the business cycle and the estimation of the level of synchronization. The discussion of the collected papers is expected to substantially assist researchers, practitioners, and policy makers keen to employ themselves in the area of business cycles synchronisation.

Competitive balance indicates the degree of control participating teams have over a sports competition. Supporters look for excuses to justify their team’s defeat and the triumph of their rivals. If the competition has required a preliminary qualifying group stage, they will argue that the winning team was in an "easy group" from the start, and their team was unlucky to be in a "difficult group". It is therefore of interest to determine what is an "easy group" and what is a "difficult group". This is directly related to the concept of competitive balance. We have a wide range of indices to measure competitive balance. We will use the Distance to Competitive Balance, a standardized index that complies cardinality property. The perfectly unbalanced distribution is the truncated cascade, which allows the maximum value of concentration to be obtained. We focus our attention on the UEFA Champions League, before and after competition, and we measure the competitive balance of the qualifying stage groups between the 1999/2000 and 2022/2023 seasons. The composition of the UEFA Champions League groups seems to be balanced and has no influence on which team will be the champion. A highly competitive group will be more "difficult" in terms of qualifying than a highly concentrated one. Supporters say that their team was unlucky to be in a “difficult” group, but the data does not prove them right.

Keeping in view the concept of agglomeration economies and the New Economic Geography (NEG) angle, this paper makes an attempt to examine the rural to urban population movement at the district level in India. The findings do not favour a strong positive association between levels of urbanization and migration rates.  However, there exists a cluster of districts which are able to attract migrants on a large scale in spite of being already urbanized. The work participation rate, share of services and construction work, and literacy rate all form parts of this positive nexus, indicating that opportunities exist with increased levels of urbanization which in turn prompt people to migrate. The positive spill-over effects of higher levels of urbanization are not limited to the urban spaces only as the adjoining rural areas also seem to have undergone   a significant transformation. The land use pattern and activities are changing and some of the developmental impact is evident. However, the regional variations in this respect are evident. There are sharp differences in the relationship between urbanization level and migration rates across regions. The nature of urbanization and its determinants and the outcome variables of urbanization and migration also unravel regional variations. Besides, there are many districts with higher levels of urbanization; yet, they are not able to attract migrants at a rapid pace. New investment opportunities can be created in these spaces to reduce the cost of growth and make employment generation process more effective, facilitating the rural population to take the benefits of agglomeration economies.

Many of Keynes´s ideas and concepts are proven correct in this paper. The demand side, mainly business investments, drives the economy. Business firms steer the business cycle via profit expectations and animal spirits. Injections to and withdrawals from the circular flow of income are multiplied throughout the economy in accordance with Keynes´s multiplier. A sudden and sharp rise in households´ saving rates has a detrimental effect on aggregate demand, in line with Keynes´s paradox of thrift. Finance, not saving in the S=I sense, is the necessary condition for business investments and economic growth to be realized. Keynes´s finance motive thus makes money endogenous, contradicting the textbook result that exogenous money steers aggregate demand, contradicting the mainstream loanable funds theory and putting into question the Keynesian theory of sticky prices as a condition for real growth. However, a crucial omission in Keynes´s productive writings is the lack of an accelerator tying income to investment. Some of his followers such as Paul Samuelson tried to remedy that by developing multiplier-accelerator models. The problem with them is that the accelerator lacks micro foundations, in specific disregarding business confidence. Linking macro accounting identities with empirical national accounts data for five major economies produces the finding that business firms explain more than all aggregate expenditure growth during a 25-year period. Thus, it is concluded that business confidence is the root of the business cycle. Making the accelerator account for business confidence casts new light on the perhaps most well-known Keynesian “truth”: active fiscal policy as a main force stabilizing the business cycle. With business confidence being the endogenous and ubiquitous variable driving the business cycle, it turns out that any exogenous factor has the possibility to affect it. Policy needs to be viewed as a competing factor to the factor(s) driving the cycle in the other, destabilizing direction. The more powerful those factors are (e.g., a deadly virus), the tougher it gets for policy to “win” the competition, turning business confidence around. This leads up to the paper´s main conclusion: the worse the economy, the stronger is the case for active fiscal policy, but the lesser is the chance for it to succeed.