The very nature of work, labor market composition, and skill requirements are severely affected by technology-driven transformations currently underway with the 4^th industrial revolution (4IR). The effect of 4IR technologies on technical and vocational education and training (TVET) and the contribution of TVET to the labor market is explicit. The paper presents the findings of a study that investigated whether TVET institutions are prepared to face the challenges of 4IR. The data for the study were collected by surveying 428 teachers from 15 countries in Asia and the Pacific engaged in science, technology, engineering, and mathematics (STEM) fields at the tertiary level. The findings of our study undoubtedly bring greater attention to the initiatives of TVET in these countries in preparing the workforce for job roles necessitated in the 4IR. The findings can also be used to frame policy recommendations for the growth of economies.

Based on the income poverty level differences and multi-dimensional poverty perspective in China, this paper compares the performance of education poverty alleviation, employment poverty alleviation, and industry poverty alleviation. The hypothesis was tested by quantile regression and ordered probit model. The results show that: in the short term, the effect of poverty alleviation through education is not significant; however, the effect of poverty alleviation through employment and industry is significant, increasing the income of poor households to a certain extent. The effect of poverty alleviation through employment is high. In the long term, the effect of poverty alleviation through industry is good. For the deep poor households, the effect of poverty alleviation through employment is more significant in the short term. For the marginal poor, only industry poverty alleviation has a significant effect on poverty alleviation. Education poverty alleviation and industry poverty alleviation are conducive to improving multi-dimensional poverty. In the alleviation of multi-dimensional poverty, employment poverty alleviation and education poverty alleviation have a certain synergy.

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.

Generating output growth by adding more inputs into the production process may not be sustainable in the long run for any economy, given the limited resources. On the other hand, if productivity growth dominates the production process, it will generate more output without excessive increase in input use. Hence, this paper examines whether the output growth in Indonesia’s manufacturing sector is excessive inputs driven or productivity driven. Productivity driven growth is measured by Total Factor Productivity (TFP) growth, which is decomposed into its major components of technological progress and technical efficiency within the framework of varying coefficients stochastic frontier analysis (VSFA) using Indonesia’s annual Large and Medium Manufacturing Industries Survey data over the period 2002–2014. The measurement of the components of TFP growth not only provides more insights and better understanding of the dynamic nature of the production processes, but also has important policy implications. The mean TFP growth during the period 2002-2014 was estimated to be 4.3 per cent and was mostly contributed by technological progress experienced by firms. The policy implication is that technical efficiency could still be improved for the selected technology to reap the full benefit of increasing output from the chosen technology.

Advanced Air Mobility (AAM) may, in the coming decades, result in tens of thousands of new jobs and billions of dollars in additional economic activity. While much of the discussion surrounding AAM focuses on the technical aspects of the nascent industry, estimates of the potential economic impact vary significantly. Much less attention has been paid in the literature to potential externalities, positive and negative, and how these externalities may impact estimates of economic impact. We argue that much work remains to be done before policy advisors and decisions makers can formulate and implement strategies based on the projections of future economic impact of AAM.

We present two approaches to forecasting parameters in the SABR model. The first approach is the vector autoregressive moving-average model (VARMA) for the time series of the in-sample calibrated parameters, and the second is based on machine learning techniques called epsilon-support vector regression (ε-SVR). Using daily data of S&P 500 ETF option prices from January 1, 2014, to December 31, 2018, we first calibrate the daily values of the model parameters from the training sample, then conduct out-of-sample forecasting of parameters and pricing of options. Both approaches produce good fits between the forecasted and calibrated parameters for out-of-sample dates. A comparison study shows that using forecasted parameters as inputs, the SABR model generates better pricing results than assuming constant parameters or using lag parameters. We also discuss the market conditions under which one approach outperforms the other.

This paper evaluates the fit-for-purpose of the monetary policy measures implemented by the Bank of Ghana in response to the COVID-19 pandemic. We examine the effectiveness of the BoG’s policy interventions in the context of vector autoregressions augmented with macroeconomic and financial indicators. We demonstrate that the BoG’s monetary policy measures have had nominal, real, and financial effects. The monetary interventions have been successful, as evidenced by the gradual reduction in the sovereign spread, improved financial stability, and increased real economic activity. Our findings suggest that balance sheet actions are less effective and should be moderated in the conduct of monetary policy in jurisdictions without zero lower bound constraints. However, the analysis indicates that in times of crisis, central banks should deploy both standard and non-standard tools to stabilize dysfunctional financial markets and avoid a deflationary spiral. The historical and variance decomposition of the data reveal that monetary policy shocks have historically made the largest contributions to the targeted macro-financial aggregates during the pandemic episodes.

In light of the events of 2020 and 2022, this study aims to examine the co-movements between the capital markets of the Netherlands (AEX), France (CAC 40), Germany (DAX 30), the United Kingdom (FTSE 100), Italy (FTSE MIB), Spain (IBEX 35), Russia (IMOEX), and spot prices of crude oil (WTI), silver (XAG), gold (XAU), and platinum (XPT) from January 1, 2018 to December 31, 2022. The purpose of this analysis is to answer the following research question: (i) Did the events of 2020 and 2022 increase the shocks between stock markets and WTI, XAG, XAU, and XPT prices? The findings indicate that time series do not follow a normal distribution and are stationary. In response to the question of investigation, we found that during the Tranquil period, it was possible to verify the existence of 28 causal relationships (out of 110 possibilities). During the stress period, there was a very significant increase in the number of causal relationships between the market pairs under analysis (62 causal relationships out of 110 possibilities), including a relative increase in the influence of commodities on capital markets and capital markets on commodities. These findings show that during the events of 2020 and 2022, capital markets and commodities significantly accentuated their co-movements among themselves, indicating that alternative markets such as WTI, XAG, XAU, and XPT do not provide safe-haven properties. These results have implications for portfolio diversification during times of global economic uncertainty.

In China, the land arrangement behavior of over 160 million rural-urban migrant workers is closely related to the optimal allocation of rural land resources and sustainable development of urban and rural areas. Although previous studies show that social capital affects migrant workers’ land arrangement behavior, few empirical studies reveal the relationship between them, and the corresponding interventions remain unclear. Using survey data collected in Henan Province, China, and a multinomial logit model, this study empirically analyzes the mechanism behind the impact of social capital on migrant workers’ land arrangement behavior from the perspective of social capital. Results illustrate that social capital has a significant impact on the land arrangement behavior of migrant workers. The behavior is significantly correlated with the scale of migrant workers’ urban social networks, the degree of urban social trust, and urban belonging. More social capital in urban areas indicates a higher tendency for migrant workers to abandon their land contracting rights and become permanent urban residents. This study reveals the mechanism of social capital affecting migrant workers’ land arrangement behavior and provides a reference for decision-making with respect to guiding migrant workers’ land management behavior for other countries facing similar social problems.

Stock indexes are used as a barometer of economic health, and fluctuations in these markets can have a substantial influence on the economy. For example, the Covid-19 pandemic caused severe economic disruption, as reflected in stock market indexes. Similarly, Russia's invasion of Ukraine has geopolitical implications that might undermine global trade and economic stability, impacting stock market indexes. Considering these developments, the purpose of this article is to examine the co-movements of the stock markets of Austria (ATX), Poland (WIG), the Czech Republic (PX Prague), Hungary (BUX), Croatia (CROBEX), Serbia (BELEX 15), Romania (BET), and Slovenia (SBI TOP) from February 16, 2018, to February 15, 2023. To achieve the research objectives, the aim is to answer the following research question: i) Have the events of 2020 and 2022 accentuated the co-movements between the stock markets in Central Europe? The results show the presence of 21 shocks between markets (out of a potential 56) during the Tranquil subperiod, with the WIG stock index having a greater predictive influence on the behavior of its peers (4 shocks out of 7 possible). During the Stress subperiod, 45 shocks were confirmed (out of 56 possible). The markets that triggered the most market shocks (7 out of 7 possibilities) were BET, BUX, CROBEX, and SBI TOP. The research question was validated based on the conclusion supplied, as all markets increased their movements, showing a considerable effect of the 2020 and 2022 events on these markets.

This research paper examines changes in patient care management in acute care hospitals between 2001 and 2011. During this time, there were two opposing factors at play: the competition effect of the reform and the policymaker’s decision to reduce public hospitals across France. By studying the trends, it is evident that there has been a significant overall shift in patient care management during this period. This change could be attributed to the global competition effect and the concentration of in-patients in specific public facilities. Through the difference-in-difference method, the study analyzed time variations in the intensity of local competition. It was found that local competition had a negligible impact on patient care management. Additionally, the study revealed that there was a significant positive competition effect on high-technical procedures for the private sector, which is in line with the market segment where private sector hospitals have a leadership position and the pro-competitive reform intensified this position. The study also uncovered a negative competition effect on the length of stay for public hospitals. Prior to the implementation of the DRG-based payment reform, public sector hospitals were paid a global budget. However, after the reform was implemented, they had to shorten the length of stay to increase the number of stays. For-profit hospitals have always been paid based on the number of stays. The results are robust and consistent when alternative measures of local competition are used.

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.

Less-Lethal Weapons, including electric Tasers, velocity-reduction bullet-capture projectiles, rubber bullets, beanbag rounds, and other less-lethal projectiles used in police departments, federal and local law enforcement agencies, and military policing operations, as well as for private use, are topics of significant debate in recent years. These weapons can reduce collateral damage, reputational risk, and legal exposure while preventing wrongful and unnecessary deaths caused by conventional bullet wounds. Yet, opponents have highlighted concerns regarding the safety and effectiveness of these weapons, as well as their potential to cause injury or even death. While the primary duty of law enforcement officials is to preserve order and execute the law while protecting individual rights, they ultimately achieve these goals by exercising their coercive authority. Society expects police officers to rely on their professional training and judgment when using physical force to defend citizens and themselves or to apprehend criminal suspects. Because police officers must occasionally participate in physical acts of coercion, it is unavoidable that some of these interactions may result in bodily injuries to individuals, including the officers themselves. These injuries have real costs, such as medical treatment, lost wages, municipal liability, court claims and settlements, riots, and legal or even criminal exposure, as well as less-tangible collateral costs, such as the erosion of police legitimacy and public trust, which are more difficult to quantify but arguably more influential in shaping long-term public perceptions than personal injuries alone. Less lethal technology eliminates some of the concerns raised by lethal weaponry. This study reviews the advantages and disadvantages of these less-lethal weapon technologies versus traditional firearms for use by the police force, federal agencies, and military police while also performing advanced analytics to model the valuation and return on investment for a law enforcement organization implementing such technologies.

The paper focuses on younger online viewers’ motivation to watch video game live streaming on live streaming platforms. Unlike existing scholars, it analyses younger online viewers’ watching motivation through a positive perspective and draws on the Play-Others-Downtime theory (P-O-D theory) and the motivation theory to establish the research model. By analysing 397 samples based on the variance-based structural equation modelling and partial least squares path modelling (SEM-PLS), the results present that younger viewers’ entertainment, social and leisure purposes positively affect their watching motivation. Control variables (i.e., gender, education background, and income level) demonstrate insignificant effects across the model. Considering the influence of the COVID-19 pandemic, watching video game live streaming is essential entertainment and social activities for younger adults. Future studies should identify the positive impact of video game live streaming and guide younger viewers to participate appropriately in this activity.

The goal of this paper is to provide an overall presentation of corruption as occupational fraud building on the findings of an empirical study conducted in Greece. As uncertainty leads to increased levels of corruption, Greece was chosen due to the prolonged period of uncertainty the country faces, caused by the 2010 financial crisis and followed by the Covid pandemic crisis. 400 questionnaires reviewing corruption perception were gathered and analyzed by gender, age, marital status, education level, position, occupation, and monthly income, as well as urban vs rural area of residence. The findings of the study were compared with and critically evaluated against those of the previous studies for Greece. Respondents in age group 36-49 believe that if appropriate measures are taken it is possible to tackle corruption in the public sector, in contrast to people aged 18-35 who disagree completely. Residents of rural areas do not consider corruption to be a serious problem and are more willing to whistleblowing (in contrast to residents of urban areas). The study findings have important practical implications in the context of designing effective corruption reduction policies.

A large body of research has been dedicated to the study of relationships between social or cultural capital and educational outcomes in Western countries. However, few studies have examined these associations in a Chinese context, and even fewer have examined the effects of both forms of capital on educational outcomes simultaneously within a familial context in China. This study offers a reformulation of the associations between family social capital and family cultural capital on the educational outcomes of adolescents in both rural and urban China. Using the structural equation modelling approach and the China Education Panel Survey, this study sheds some new insights – the presence of significant compositional differences in both family social capital and family cultural capital between rural and urban Chinese adolescents, and differential effects of both forms of capital on educational outcomes were found. Family social capital presented larger positive effects on the academic effort and educational aspiration of rural adolescents while having no positive effects in facilitating the academic achievement of both rural and urban adolescents. Meanwhile, family cultural capital presented larger positive effects for urban adolescents on all educational outcomes as compared to their rural counterparts.

The Human Development Index (HDI) aims to present a more robust picture of a country’s development status than that suggested by national income per capita. The HDI aggregates dimension indices based on transformed measures for the core values of health, education, and income per capita. Assumptions are made regarding the upper and lower bounds used to re-scale each core value into its dimension index, as well as the functional form used to create the HDI. The treatment of income in the HDI’s construction suggests incompatibilities with its underlying capability theory, which stresses the importance of individuals’ abilities to make their own consumption and life choices. We examine the currently formulated HDI, as well as two influential proposed alternatives which generalize the aggregation functions of the pre-2010 HDI formulation and the current HDI, in light of recent empirical research into the relationship between well-being and income. We use underlying data for 2016, a representative year, to examine distributional changes as well as specific country rankings. We find that the income bounds used to calculate the income dimension index in the HDI should be changed. We also suggest that the three aggregation formulations, along with prominent descriptions of the assumptions and consequent implications of each approach, should be disseminated for policymakers and the public to consider.

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.

Despite the status of the United States as one of the world’s economic superpowers, the country is plagued by child poverty. The issue of child poverty is most prominent in rural, majority-minority communities, where years of limited opportunity, often created by systematic oppression, have created a vicious cycle of economic despair. There are a number of policies that have been explored which could limit the effects of child poverty, most notably the Expanded Child Tax Credit (ECTC), which was introduced as part of the American Rescue Plan Act (ARPA) of 2021. This paper uses a combination of qualitative and quantitative methods to thoroughly examine this policy (ECTC) and its potential to both cut child poverty in the short term and increase educational attainment and economic mobility in the long term for recipients. The ECTC program ended in 2022 and only lasted in a short period. By examining the impacts of a similar and long-standing but less accessible and generous program, the Earned Income Tax Credit (EITC), on educational attainment in specific communities we can theorize and determine the significance the Expanded CTC would have. We use EITC program as a proxy of ECTC and reach inference of the long-term impact of ECTC program on children’s education attainment. The result of this research indicates a number of benefits of the Expanded Child Tax Credit, including its potential to cut child poverty and increase educational attainment, its impact on future economic prosperity in rural, majority-minority communities, and the policy’s ability to decrease economic disparities between non-metro and metropolitan areas.