This paper studies non-compliant firms with gender legislation and why some businesses are taking the risk of not binding the gender quotas. It is conducted on firms listed on the SBF120 index, after the introduction of the gender law of Copé and Zimmermann, in 2011. Our findings show that gender diversity on advisory committees, unlike monitoring committees, is likely to decrease the non-compliance likelihood. Non-compliant firms have busy members, specifically among men and long-tenured CEOs who are serving in non-dual structures. Regarding women's profiles, non-compliant boards are prone to hire short-tenured and local female candidates. Finally, their financial and social performances are not damaged while their corporate risks are decreased. When penalties are not required against non-compliant firms, refractory businesses do not bear “real” costs.

Skateparks, often called 'wheel parks,' are becoming increasingly common within communities worldwide. Despite this growth in parks, estimates show that the development of parks needs to catch up to users. Using a count data travel cost model, we estimate the adult user benefits associated with the Lauridsen Skatepark in Des Moines, Iowa – the largest in the United States. We estimate adult user benefits to be $61 per user per day and roughly $488,000 annually. This work contributes to the literature by being the first study to use econometric techniques to estimate skatepark user benefits. Second, we develop a simple and easy-to-apply method to assist municipalities in determining community skatepark needs. Third, our results support the literature showing that skateboarders are increasingly diverse.

We propose an open-access innovation index for the U.S. states. This index was built by classifying into four core areas the twelve more important indicators, inputs, and outputs, that are widely accepted in the literature as the most relevant for measuring innovation. We consider the indicators aggregated in the areas of human capital and business environment as the inputs that create knowledge and influence the promotion of innovation, while those in areas of engagement and efficiency as the outputs that are all those outcomes and improvements related to the innovation process. As an example of potential uses of our index, we ran a basic econometric experiment using the economic growth rate as the dependent variable. Despite the results being qualitatively consistent with the literature, we suggest further research using our index and other methodologies. We included in the appendix the overall index score and ranking from 2000 to 2015.

This study documents the relationship between economic freedom and unauthorized immigration to the U.S.A. and tries to answer a still-in-debate question, what motivates people to unauthorizedly migrate? Using the generated instrument variables methodology, and a data panel of 15 countries and 16 years, the endogenous variable is the gap in economic freedom between the country of origin and the U.S., and the dependent variable is the unauthorized immigrant’s growth rate. The results show that for each 10% improvement in economic freedom in the country-of-origin unauthorized immigration decreases around 7%. Estimations are robust even after using other covariates and external instruments. The main conclusion is that economic and social factors play a significant role in shaping migration patterns and that the difference in economic freedom between the country of origin and the U.S. plays a fundamental role in deciding to unauthorizedly migrate

The use of digital technologies like artificial intelligence, robotics, or smart devices can be expected to go hand in hand with higher productivity and lower trade costs, and, therefore, to be positively related to export activities. This paper uses firm level data for manufacturing enterprises from the 27 member countries of the European Union to shed further light on this issue by investigating the link between the digitalization intensity of a firm and extensive margins of exports. We use a new machine-learning based regression method, Kernel-Regularized Least Squares (KRLS), which effectively handles non-linear relationships in models and does not impose any restrictive assumptions for the functional form of the relation between margins of exports, digitalization intensity, and any control variables. We find that firms which use more digital technologies do more often export, do more often export to various destinations all over the world, and do export to more different destinations.

The integration of artificial intelligence (AI) in video game design has transformed traditional workflows, allowing for the generation of text, images, music, videos, and code at unprecedented scales. However, this advancement presents complex challenges for copyright law, traditionally rooted in human originality and authorship. This article examines recent case law that underscores the evolving legal landscape, exploring landmark cases such as Zarya of the Dawn and Andersen v. Stability AI. These cases reveal the tensions between AI-generated outputs and copyright eligibility, especially in the dynamic, multimodal compositions inherent to video games. The review analyzes how various AI tools are employed across the stages of game development—from design documentation to character modeling, soundtrack composition, and cinematic sequences—and the legal uncertainties surrounding each. Emphasis is placed on the role of human input in determining copyright eligibility, proposing that human-AI co-creation models and enhanced metadata standards may offer pathways to reconcile AI-driven innovation with intellectual property protections. As video games exemplify the unique challenges in AI-generated, temporally interactive works, this study calls for a nuanced copyright framework that acknowledges both technological capabilities and the irreplaceable contribution of human creativity. The findings advocate for policy adaptations that align legal protections with the realities of AI-integrated creative processes, ensuring a balanced approach that supports both innovation and creator rights.

This study investigates the impact of COVID-19 on bank borrowers across 22 Arab economies from 2017 to 2022, employing the two-step system GMM estimator. The findings reveal a significant negative effect of COVID-19 on the number of bank borrowers, highlighting a sharp decline in borrowing activity due to the pandemic’s economic disruptions. Notably, the decline was more pronounced in non-GCC countries, where economic structures and pandemic responses differed. Robustness tests, including subsample analysis and alternative econometric models (pooled OLS, fixed effects, random effects, and 2SLS), consistently confirm these results. The study emphasizes the need for targeted policy interventions to stabilize financial systems, reduce borrowing costs, and control exchange rate fluctuations to maintain credit access during crises. The findings provide crucial insights for policymakers aiming to support economic recovery and strengthen the resilience of the banking sector in the face of future external shocks.

The paper examines how the growth of entrepreneurship affects the generation of employment opportunities in Nasarawa State. Even though entrepreneurship is crucial for generating employment, there are still obstacles in the way of its growth. These include limited support from governmental and non-governmental organizations, difficulty obtaining financing and microcredit, proper training and enlightenment etc. The objective of this paper is to investigate how the growth of entrepreneurship affects the creation of jobs in Lafia, Nasarawa State. The study used a descriptive research design, and the means used for gathering data was a questionnaire given to new entrepreneurs in Lafia, Nasarawa State. A sample size of 375 was determined from a population of 1604 using a Smith (1984) sampling formula; this sample represented the number of questionnaires that were delivered. This findings of the research demonstrated that the creation of jobs in Nasarawa State is significantly impacted by the growth of entrepreneurship. This implies that through entrepreneurship development, self-reliance and employment opportunities have been created in Lafia, Nasarawa State. Through this, youths have been able to develop a way to create value in the society. More so, this study revealed that access to credit (micro credit) has a significant effect on employment creation in the State. Having acquired knowledge on how to manage finance they make sound financial decisions. Lastly, the study showed that the number of new businesses established has a significant effect on employment creation in Nasarawa State. This result implies that youths who apply their entrepreneurship skills and creativity in one nature of business or the other have been able to earn a living out of it in Nasarawa State. This paper thus suggests that the Nasarawa State government should genuinely recognize the relevance of entrepreneurship development and provide an enabling environment. Both the government and institutions should ensure that youths get adequate financial credit (micro-credit).

As a new economic innovation, live streamers have widely accepted video streaming technology combined with specific business activities in real time. To predict live streamers’ continuous streaming marketing intention on live streaming platforms, the study refers to the theory of planned behaviour (TPB) and designs influencing factors from attitude, subjective norm, and perceived behavioural control. Meanwhile, given the interactive nature of live streaming platforms, the paper divides the subjective norm into online and offline subjective norms and considers the influence both from online and offline communities. The data analysis based on the partial least squares path modelling and variance-based structural equation modelling (PLS-SEM) shows that attitude, online subjective norm, offline subjective norm, and perceived control towards the continuous streaming marketing have positive relationships with live streamers’ continuous streaming marketing intention and result in their final behaviours. Related scholars and platform managers should consider the impact of online and offline subjective norms when they analyse live streamers’ marketing psychology. Properly guiding live streamers to carry out marketing activities can not only be beneficial to their mental health but also contribute to the stable development of live streaming economy.

Using data from the Japanese government bonds and stock markets, this study examines the predictability of Japanese recessions based on a probit model with instrument variables. By decomposing the term spread into the expected short-term interest rate and the term premium, this study analyzes the relationship between the components of the term spread and recessions. The results show that the predictive power of the term spread for recessions has declined since 1999—when Japan began employing an unconventional monetary policy. Additionally, stock market capitalization relative to nominal GDP is a useful predictor of recessions.

This study investigates the effects of innovation reform on wealth inequality by analyzing China’s Comprehensive Innovation Reform Pilot Zones (CIRPZs). Employing a difference-in-differences methodology, we assess the impact of CIRPZs on urban wealth distribution among China’s prefecture-level cities. Our findings reveal a paradox: although CIRPZs are designed to stimulate economic growth and technological advancement, they inadvertently exacerbate wealth inequality. This outcome is confirmed through a series of rigorous robustness checks. We identify two key mechanisms driving this phenomenon: the virtual wealth effect, whereby technological progress disproportionately benefits tech-savvy individuals and firms, and wage stratification, leading to increased income disparities within innovative sectors. Additionally, we find that the impacts of CIRPZs vary across regions, with significant widening of wealth inequality observed in Beijing-Tianjin-Hebei, the middle reaches of the Yangtze River, and Chengdu-Chongqing, while a moderating effect is noted in the Central Plains. These insights emphasize the nuanced effectiveness of innovation reform policies and their implications for policymakers in developing economies. We advocate for policy frameworks that balance technological advancement with equitable economic outcomes, a crucial step for fostering sustainable and inclusive development.

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.

This research investigates the determinants of women's empowerment within households in a developing country. The investigation specifically focuses on the impact of employment and fertility, considering constraints imposed by family rules that play a pivotal role in shaping women's empowerment. The theoretical framework outlined in this study posits a simplistic model demonstrating that, within the prevailing family structure and household composition, earned income and fertility may bear significant relevance. Utilizing data extracted from the Pakistan Social and Living Standards Measurement Survey, we engage in estimating the level of female empowerment, operationalized as the extent of female authority over household expenditures. Notably, our empirical approach accounts for the endogeneity of employment and fertility through a two-stage estimation process. This involves leveraging information on family rules—representative of a family's cultural norms—pertaining to work and childbearing. Our empirical findings affirm the viability of family-specific rules as instruments to estimate and subsequently predict employment and fertility. Importantly, the evidence gleaned underscores the critical role of selecting valid threat options in theoretical analyses of women's empowerment.

The diplomatic relations between Azerbaijan and Pakistan have undergone significant development since the late 1990s. Despite some studies focusing on diplomatic and political relations, the economic dimension of this partnership has not been systematically covered. In this paper, a robust least squares (RLS) approach is used to model bilateral trade between the two countries and identify statistically significant determinants, including economic, institutional, and cultural factors, after analyzing the main economic and subsectoral trade dynamics of both countries. The results reveal that Azerbaijan's imports from Pakistan are significantly associated with the country's higher income and market size, while Pakistan's elevated exchange rate and trade costs hinder bilateral trade. In addition, Pakistan's rising manufacturing output increases exports to Azerbaijan but decreases imports from Azerbaijan. Among institutional determinants, government effectiveness, the trade freedom index (TFI), and political stability play significant roles in bilateral trade. Lastly, it was found that cultural proximity increases Pakistani exports to Azerbaijan but not imports from Azerbaijan. The analysis also indicates that domestic savings stimulate Pakistani exports. These findings underscore the complex nature of bilateral trade between Azerbaijan and Pakistan and highlight the need for institutional arrangements to harmonize trade flows and boost welfare gains from trade. The results may be of great importance to intergovernmental working groups, domestic policymakers, and businesses.

Objective: The paper, specifically examines whether the recently formed Regional Comprehensive Economic Partnership (RCEP) can potentially facilitate minimising the constraints to renewable energy goods exports at the regional level in Asia. Data, Methodology and Findings: Using the panel data from 11 RCEP members from 2006 to 2014, this study has applied the ‘meta frontier stochastic gravity frontier’ methodology and confirms that the establishment of RCEP has the potential to improve trade in renewable energy commodities within the RCEP region. Policy Implications: The policy implication is that when countries work together, it will lead to enormous benefits for national, regional, and worldwide prospects of a more sustainable energy future. Practical Policy Implications: In terms of practical policy implications, the developed RCEP member countries should actively engage in promoting R&D activities and protecting intellectual property rights concerning renewable energy production, which are essential for countries to integrate with the world market and to lift the export frontiers of both the developed and developing RCEP member countries to reach the unrestricted export of renewable energy technology.

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.

This paper presents an operational framework for assessing the trajectories of production, energy, emissions, and capital accumulation to ensure the implementation of Nationally Determined Contributions (NDCs). The framework combines widely used methodologies (STIRPAT, system dynamics, and optimization) to simulate the pathways of variables until a target year. The CO-STIRPAT dynamic system allows us to identify the spillover pathways from carbon policy to economic growth based on output optimization principles; to conduct a more systematic analysis of the interconnections between the main drivers that determine carbon emissions; to develop a cost-effective climate policy mix that is a backbone for the right combination of carbon pricing, energy efficiency, and carbon intensity; and to assess NDC targets with respect to ambition gaps, implementation gaps, and feasibility.

This paper attempts to introduce an overlapping generations structure into Paul Krugman's "The world's smallest macroeconomic model" (Krugman (1999)) to examine the implications of fiscal policy, particularly fiscal deficits, in a framework suitable for policy analysis. In that paper, Krugman argued that under the price rigidity assumption, a shortage in the money supply leads to underemployment and recession, so increasing the money supply would eliminate underemployment and restore full employment. But how can the money supply be increased? I show that in order to restore full employment out of a recession, a fiscal deficit is needed to increase the money supply. I also show that in a growing economy, fiscal deficits are necessary to maintain full employment at constant prices or inflation. Fiscal deficits are not only effective in pulling the economy out of recession, they are even necessary for growth to continue without recession or inflation. The fiscal deficit in this paper represents the difference between government spending and government revenues. If this difference is positive, we say that the government is in deficit. Krugman's original model is a one-period static model. I intend to extend this model to a dynamic overlapping generations model.

In this paper I will show that budget deficit (or fiscal deficit) is necessary to achieve full employment under constant prices or inflation, using a model of endogenous growth in which consumers hold money for the reason of liquidity and live forever. Budget deficit need not be offset by future budget surpluses. I consider the continuous time case by taking the limit of the discrete time case when the time interval approaches zero. A continuous time dynamic model seems to be more general than a discrete time model. When the actual budget deficit is greater (smaller) than the value which is necessary and sufficient for full employment under constant prices, an inflation (a recession) occurs. The main argument of this paper is that a growing economy requires the continuation of budget deficit, and that we should not think of paying off the resulting government debt with taxes.

This study examines the role of news sentiments in the GCC equity markets’ connectedness. We collected news titles for the period from 22nd June 2006 until 31st December 2020 from Gulf News, which is the most widely read English newspaper in the Arab World. We filter these news titles using a carefully designed list of keywords that capture public sentiment on matters related to financial markets. Next, we classify the news titles to compute the geographically distinguished sentiment indexes that allow for a detailed analysis of the source of news sentiment spillovers to compare the impact of domestic versus regional sentiments on the equity markets of GCC countries. Our quantile regression results reveal that equity markets in the GCC are most sensitive to news sentiments when underperforming. Moreover, our results from the connectedness approach suggest that the UAE equity markets are most influenced by domestic sentiments, whilst the KSA equity market is most influenced by regional sentiments from the other GCC countries. Mixed results are found for other countries. The time-varying component of this study also shows that the influence of news spillovers intensified during the major crises events, including the COVID-19 outbreak.