10,707 research outputs found
Organizing sustainable development
The role and meaning of sustainable development have been recognized in the scientific literature for decades. However, there has recently been a dynamic increase in interest in the subject, which results in numerous, in-depth scientific research and publications with an interdisciplinary dimension. This edited volume is a compendium of theoretical knowledge on sustainable development. The context analysed in the publication includes a multi-level and multi-aspect analysis starting from the historical and legal conditions, through elements of the macro level and the micro level, inside the organization. Organizing Sustainable Development offers a systematic and comprehensive theoretical analysis of sustainable development supplemented with practical examples, which will allow obtaining comprehensive knowledge about the meaning and its multi-context application in practice. It shows the latest state of knowledge on the topic and will be of interest to students at an advanced level, academics and reflective practitioners in the fields of sustainable development, management studies, organizational studies and corporate social responsibility
Multidisciplinary perspectives on Artificial Intelligence and the law
This open access book presents an interdisciplinary, multi-authored, edited collection of chapters on Artificial Intelligence (‘AI’) and the Law. AI technology has come to play a central role in the modern data economy. Through a combination of increased computing power, the growing availability of data and the advancement of algorithms, AI has now become an umbrella term for some of the most transformational technological breakthroughs of this age. The importance of AI stems from both the opportunities that it offers and the challenges that it entails. While AI applications hold the promise of economic growth and efficiency gains, they also create significant risks and uncertainty. The potential and perils of AI have thus come to dominate modern discussions of technology and ethics – and although AI was initially allowed to largely develop without guidelines or rules, few would deny that the law is set to play a fundamental role in shaping the future of AI. As the debate over AI is far from over, the need for rigorous analysis has never been greater. This book thus brings together contributors from different fields and backgrounds to explore how the law might provide answers to some of the most pressing questions raised by AI. An outcome of the Católica Research Centre for the Future of Law and its interdisciplinary working group on Law and Artificial Intelligence, it includes contributions by leading scholars in the fields of technology, ethics and the law.info:eu-repo/semantics/publishedVersio
Spectrum auctions: designing markets to benefit the public, industry and the economy
Access to the radio spectrum is vital for modern digital communication. It is an essential component for smartphone capabilities, the Cloud, the Internet of Things, autonomous vehicles, and multiple other new technologies. Governments use spectrum auctions to decide which companies should use what parts of the radio spectrum. Successful auctions can fuel rapid innovation in products and services, unlock substantial economic benefits, build comparative advantage across all regions, and create billions of dollars of government revenues. Poor auction strategies can leave bandwidth unsold and delay innovation, sell national assets to firms too cheaply, or create uncompetitive markets with high mobile prices and patchy coverage that stifles economic growth. Corporate bidders regularly complain that auctions raise their costs, while government critics argue that insufficient revenues are raised. The cross-national record shows many examples of both highly successful auctions and miserable failures. Drawing on experience from the UK and other countries, senior regulator Geoffrey Myers explains how to optimise the regulatory design of auctions, from initial planning to final implementation. Spectrum Auctions offers unrivalled expertise for regulators and economists engaged in practical auction design or company executives planning bidding strategies. For applied economists, teachers, and advanced students this book provides unrivalled insights in market design and public management. Providing clear analytical frameworks, case studies of auctions, and stage-by-stage advice, it is essential reading for anyone interested in designing public-interested and successful spectrum auctions
Revisiting the capitalization of public transport accessibility into residential land value: an empirical analysis drawing on Open Science
Background: The delivery and effective operation of public transport is fundamental for a for a transition to low-carbon emission transport systems’. However, many cities face budgetary challenges in providing and operating this type of infrastructure. Land value capture (LVC) instruments, aimed at recovering all or part of the land value uplifts triggered by actions other than the landowner, can alleviate some of this pressure. A key element of LVC lies in the increment in land value associated with a particular public action. Urban economic theory supports this idea and considers accessibility to be a core element for determining residential land value. Although the empirical literature assessing the relationship between land value increments and public transport infrastructure is vast, it often assumes homogeneous benefits and, therefore, overlooks relevant elements of accessibility. Advancements in the accessibility concept in the context of Open Science can ease the relaxation of such assumptions.
Methods: This thesis draws on the case of Greater Mexico City between 2009 and 2019. It focuses on the effects of the main public transport network (MPTN) which is organised in seven temporal stages according to its expansion phases. The analysis incorporates location based accessibility measures to employment opportunities in order to assess the benefits of public transport infrastructure. It does so by making extensive use of the open-source software OpenTripPlanner for public transport route modelling (≈ 2.1 billion origin-destination routes). Potential capitalizations are assessed according to the hedonic framework. The property value data includes individual administrative mortgage records collected by the Federal Mortgage Society (≈ 800,000). The hedonic function is estimated using a variety of approaches, i.e. linear models, nonlinear models, multilevel models, and spatial multilevel models. These are estimated by the maximum likelihood and Bayesian methods. The study also examines possible spatial aggregation bias using alternative spatial aggregation schemes according to the modifiable areal unit problem (MAUP) literature.
Results: The accessibility models across the various temporal stages evidence the spatial heterogeneity shaped by the MPTN in combination with land use and the individual perception of residents. This highlights the need to transition from measures that focus on the characteristics of transport infrastructure to comprehensive accessibility measures which reflect such heterogeneity. The estimated hedonic function suggests a robust, positive, and significant relationship between MPTN accessibility and residential land value in all the modelling frameworks in the presence of a variety of controls. The residential land value increases between 3.6% and 5.7% for one additional standard deviation in MPTN accessibility to employment in the final set of models. The total willingness to pay (TWTP) is considerable, ranging from 0.7 to 1.5 times the equivalent of the capital costs of the bus rapid transit Line-7 of the Metrobús system. A sensitivity analysis shows that the hedonic model estimation is sensitive to the MAUP. In addition, the use of a post code zoning scheme produces the closest results compared to the smallest spatial analytical scheme (0.5 km hexagonal grid).
Conclusion: The present thesis advances the discussion on the capitalization of public transport on residential land value by adopting recent contributions from the Open Science framework. Empirically, it fills a knowledge gap given the lack of literature around this topic in this area of study. In terms of policy, the findings support LVC as a mechanism of considerable potential. Regarding fee-based LVC instruments, there are fairness issues in relation to the distribution of charges or exactions to households that could be addressed using location based measures. Furthermore, the approach developed for this analysis serves as valuable guidance for identifying sites with large potential for the implementation of development based instruments, for instance land readjustments or the sale/lease of additional development rights
Clean innovation and heterogeneous financing costs
Access to finance is a major barrier to clean innovation. We incorporate heterogeneous and endogenous financing costs in a directed technical change model and identify optimal climate mitigation policies. The presence of a financing experienceeffect pushes the policy- maker to strengthen policies in the short-term, both to shift innovation and production
towards clean sectors and to reduce the financing cost differential across technologies, which further facilitates the transition. The optimal climate policy mix between carbon taxes and clean research subsidies depends on the drivers of the experience effect. In our benchmark scenario, where clean financing costs decline as cumulative clean output increases, we find an optimal carbon price premium of 47% in 2025, relative to a case with no financing costs
The Distributional Impacts of Economic Development Incentives: Three Essays
Economic Development Incentives (EDIs) are among the most common and costly tools used by state and local governments in the United States to promote economic development. While literature has predominantly focused on the efficiency of EDIs, comparatively less focus has been paid to the distributional impacts of business attraction or the impact on individual welfare. In three papers, this dissertation seeks to better understand and evaluate how business attraction supported by EDIs impacts current residents. The first paper critiques EDI evaluations that focus on bottom-line growth instead of metrics that can show changes to the quality of life and welfare of current resident. A new framework, Distributive Welfare Evaluations, is proposed. A second paper examines how business attraction impacts wages and employment rates in local economies, using large warehouses as a natural experiment. Analysis shows that jobs were filled by shifting commuting patterns and had minimal benefits for incumbent workers. Finally, a third paper, co-authored with Jeremy Moulton and Scott Wentland, measures the impacts of EDI announcements on housing markets. We find highly variable results across 114 cases but demonstrate significant increases in prices when many jobs are promised. Together, evidence contributes to a growing body of work arguing that EDIs have limited or even negative impacts on the welfare of current residents and can contribute to growing inequalityDoctor of Philosoph
Essays on financial markets in Africa
Doutoramento em EconomiaEconomic growth in a modern economy hinges on an efficient financial sector that pools
domestic savings and mobilizes foreign capital for productive investments. Absent an
effective set of financial institutions, productive projects will remain unexploited.
Inefficient financial institutions will have the effect of taxing productive investment and
thus reducing scope for increasing the stock equipment needed to compete globally. The
effect is to substantially cut growth from what would have been possible given
appropriate policies and market structures.
In this context, this thesis focuses on three essays analyzing the impact of financial
markets in development and income inequality. First, we assessed the impact of stock
market development on growth in Africa. The study uses annual data from a panel of nine
countries in Africa over the period 1992–2017. Panel Vector Autoregressive
econometrics technique is used in data analysis. Our main findings are that stock market
development has a positive effect on economic growth. The paper also finds that when
using the impulse response function, economic growth reacts to the stock market for a
period of eight years and then returns to the initial level.
The second essay presents evidence about the relationship between private credit, stock
market indicators, income inequality and poverty, using the annual data that ranges from
1992 to 2018 on nine African economies. We applied the estimation method of
Autoregressive Distributed Lag (ARDL) to model the long-run effect. In Addition, we
used Dumitrescu and Hurlin Panel causality to check the direction of causality. The
results of long‐run estimates show that the stock market indicators have a significant
positive impact on income inequalities, but have a negative and significant impact on
poverty. Further, our findings show that private credit adversely reduces income inequalities. The results also establish significant short‐run causalities among stock
market indicators, private credit, income inequalities, and poverty.
Lastly, we examine the relationship between financial development and economic
growth in Angola for the period of Q12002 to Q42018. The results show that there is
evidence of a long-run relationship between financial development and real GDP per
capita, when using the Bound test approach for cointegration. Furthermore, the results of
the Error Correction Model (ECM) indicate that financial development has a negative
impact on GDP growth when considering credit to private and broad money as proxies
for financial development. On the other hand, the degree of intermediation has a positive
impact on GDP growth. The Toda–Yamamoto causality test was carried out, which
indicates a unidirectional causality relationship, running from real GDP per capita to a
purely financial development proxy, which shows demand-following responses.
Consequently, policymakers should adopt policies that sustain the benefits of financial
developments for economic growth.O crescimento económico numa economia moderna depende de um sector financeiro
eficiente que reúna a poupança doméstica e mobilize capital estrangeiro para
investimentos produtivos. Sem um conjunto efetivo de instituições financeiras, os
projetos produtivos permanecerão inexplorados. Instituições financeiras ineficientes
terão o efeito de tributar o investimento produtivo e, assim, reduzir a margem para
aumentar o estoque de equipamentos necessários para competir globalmente. O efeito é
reduzir substancialmente o crescimento do que seria possível com políticas e estruturas
de mercado apropriadas.
Nesse contexto, esta tese se concentra em três artigos que analisam o impacto dos
mercados financeiros no desenvolvimento e na desigualdade de renda em África. Em
primeiro lugar, avaliámos o impacto do desenvolvimento do mercado bolsista no
crescimento económico em África. O estudo usa dados anuais de um painel de nove
países da África durante o período de 1992 a 2017. Para a análise dos dados foi usada a
técnica de econometria autorregressiva de vetor de painel. Nossas principais conclusões
são que o desenvolvimento do mercado de ações tem um efeito positivo sobre o
crescimento económico. O artigo também constata que, ao usar a função de impulso
resposta, o crescimento económico reage ao mercado de ações por um período de oito
anos e depois retorna ao nível inicial.
O segundo artigo apresenta evidências sobre a relação entre crédito privado, indicadores
do mercado de ações, desigualdade de renda e pobreza, usando os dados anuais que
variam de 1992 a 2018 em nove economias africanas. Aplicamos o método de estimação
de Autoregressive Distributed Lag (ARDL) para modelar o efeito de longo prazo. Além
disso, usamos a causalidade do Painel de Dumitrescu e Hurlin para verificar a direção da causalidade. Os resultados das estimativas de longo prazo mostram que os indicadores do
mercado de ações têm um impacto positivo e significativo nas desigualdades de renda,
mas têm um impacto negativo e significativo na pobreza. Além disso, nossos resultados
mostram que o crédito privado reduz negativamente as desigualdades de renda. Os
resultados também estabelecem causalidades significativas de curto prazo entre
indicadores do mercado de ações, crédito privado, desigualdades de renda e pobreza.
Por último, examinamos a relação entre o desenvolvimento financeiro e o crescimento
económico em Angola para o período de T12002 a T42018. Os resultados mostram que
há evidências de uma relação de longo prazo entre o desenvolvimento financeiro e o PIB
real per capita, quando se utiliza a abordagem do teste Bound para cointegração. Além
disso, os resultados do Error Correction Model (ECM) indicam que o desenvolvimento
financeiro tem um impacto negativo no crescimento do PIB quando se considera o crédito
ao privado e a moeda ampla como proxies do desenvolvimento financeiro. Por outro lado,
o grau de intermediação tem um impacto positivo no crescimento do PIB. Foi realizado
o teste de causalidade Toda–Yamamoto, que indica uma relação de causalidade
unidirecional, indo do PIB real per capita a uma proxy de desenvolvimento puramente
financeiro, que mostra respostas de acompanhamento da procura. Consequentemente, os
formuladores de políticas devem adotar políticas que sustentem os benefícios dos
desenvolvimentos financeiros para o crescimento econômico.info:eu-repo/semantics/publishedVersio
Shadow Economy and its Impact on Tax Revenues in Mojokerto City
This study aims to empirically study the effects of the allocation, distribution, and stabilization variables on the shadow economy and their impact on tax revenues. This research is descriptive-explorative and explanatory research. The research location is at the PKL Center, Jl. Fort Pancasila City of Mojokerto. The population of 369 with the Slovin tolerance formula of 0.01 was determined as a sample of 79 respondents. Data collection uses a questionnaire; data analysis is assisted by SmartPLS software version 3.3.7. The results show: 1) Allocations have a significant effect on the shadow economy; 2) Distribution has a significant effect on the shadow economy; 3) Stabilization has no effect on the shadow economy; 4) Allocations do not affect tax revenues; 5) Distribution has a significant effect on tax revenues; 6) Stabilization has a significant effect on tax revenues; 7) Shadow economy has a significant effect on tax revenues; 8) Allocations have an indirect effect on tax revenues through the shadow economy; 9) Distribution has an indirect effect on tax revenues through the shadow economy; 10) Stabilization has an indirect effect on tax revenues through the shadow economy
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