A Three Class Predator-Prey Model with Financial Super Predators: The Financial Profit Squeeze

The primary purpose of this paper is to: 1) introduce a three-class predator-prey model with class interactions consistent with the NL era into the literature; 2) analyze the spectrum of different qualitative macroeconomic behaviors associated with the model; 3) focus on two particular outcomes – FK PS and a double reserve army (RA) – FK PS –both capable of producing cyclical and chaotic outcomes; and 4) use the FK PS to explain key stylized facts associated with the NL period. Given a sparing behavioral structure for the model where financial markets are not explicitly specified3, a full-on calibration exercise is not attempted

Complexity in Economic and Social Systems

There is no term that better describes the essential features of human society than complexity. On various levels, from the decision-making processes of individuals, through to the interactions between individuals leading to the spontaneous formation of groups and social hierarchies, up to the collective, herding processes that reshape whole societies, all these features share the property of irreducibility, i.e., they require a holistic, multi-level approach formed by researchers from different disciplines. This Special Issue aims to collect research studies that, by exploiting the latest advances in physics, economics, complex networks, and data science, make a step towards understanding these economic and social systems. The majority of submissions are devoted to financial market analysis and modeling, including the stock and cryptocurrency markets in the COVID-19 pandemic, systemic risk quantification and control, wealth condensation, the innovation-related performance of companies, and more. Looking more at societies, there are papers that deal with regional development, land speculation, and the-fake news-fighting strategies, the issues which are of central interest in contemporary society. On top of this, one of the contributions proposes a new, improved complexity measure

The growth impact of political regimes and instability: impirical evidences from Western Europe

This thesis was submitted for the degree of Doctor of Philosophy and awared by Brunel University.The main objective of this thesis is to investigate the reciprocal direct relationship between political regimes, political instability and economic growth. However, there is a lack of fit between the political and economic science especially when it comes to political determinants of economic growth. Thus, this thesis sheds further light on the question: To what extent do political regimes and their stability affects economic performance with reference to 20 Western European countries. A panel regression analysis is employed, by adopting multiple measures of government performance. The findings suggest that political regimes have an effect on economic growth and this effect is not directly dependent upon the broader governmental structure and political environment. This thesis further examines the puzzle of the nature between political instability and economic growth in Western Europe, by using both a more comprehensive measure of political instability than has previously been developed, and Greek growth cycles form 1919 to 2008 as a case to explore the nature of the researched issue. The findings propose that the relationship between political instability (PI) and economic growth is parabolic and fragile. Furthermore, this thesis supports the intuition that political instability can slow economic growth through increasing uncertainty in economic policies. The results illustrate that economic growth and political instability are jointly determined and that governmental changes plays no significant role on economic growth (with exceptions in the case study), especially after extended spells of political stability. It appears that what matters is the longevity of the polity itself and the specific forms of political instability. Moreover, by using Greece as a case, this thesis shows that there is a strong negative link between political instability and the volatility of the economic outcomes

Revue GRASPE/GRASPE Review. Groupe de Réflexion sur l’avenir du Service Public Européen. Reflection Group on the Future of the European Civil Service Cahier n° 36 Octobre 2019. Special Climate and Ecological Emergency

No abstract

Russia: Political and Institutional Determinants of Economic Reforms

The purpose of this study is to analyze the course, determinants and political economy of economic reforms in Russia conducted in the period 1985-2003. The year 1985 can be considered an important turning point in Soviet/Russian history, marked as it was by the election of Mikhail Gorbachev to the position of General Secretary of the Communist Party of Soviet Union (CPSU) and (de facto) leader of the USSR. This nomination brought an end to two decades of political consolidation of the communist regime connected with the name of General Secretary Leonid Brezhnev and his short living successors (Yurii Andropov and Konstantin Chernenko), often referred to ex post as 'the stagnation period' (vremya zastoya). Gorbachev initiated a series of important political and (to a lesser extent) economic reforms, which led eventually to the collapse of the communist regime and the disintegration of the Soviet empire in 1991. Thus, 1991 must be seen as another dramatic turning point in Russia's contemporary history. From the end of 1991 onwards political and economic reforms have been carried out by the new Russian state that emerged after the disintegration of the USSR. This paper aims to explain the political and institutional determinants of economic reforms in the Russian Federation. It has been carried out under the Global Research Project on 'Understanding Reforms' organized and financed by the Global Development Network (GDN)1 as one of 30 country studies covering a broad set of developing and transition economies. It presents the project's intermediate results and will be the subject of further discussion as well as analytical and editorial work in the near future. The case of Russia is very important and interesting from the point of view of GRP 'Understanding Reforms' goals and agenda, for many reasons. First, all transitions from communist regimes and centrally-planned economies to democratic capitalism represent a much more complex, complicated and difficult reform experience than policy reforms observed in developing countries, especially when they relate to just one or a few specific policy areas. Thus, learning the transition experience, particularly in its early phase, can provide an extremely valuable empirical input to 'understanding reform' and provide answers to the project's key questions: 'why reform?', 'what reform?', and 'how well did the reform perform?'economic reforms, transition, Russia, reform sequencing, political reforms, institutional reforms, political economy.

Innovative Financing for Urban Rail in Indian Cities: Land-based Strategic Value Capture Mechanisms

Emerging cities are seeking urban rail but have difficulty with funding. This research uses the Bangalore Metro rail to develop an innovative land-based ‘strategic value capture' (VC) financing system suitable for Indian cities and other emerging cities. It shows significant land value uplift that could be used for VC funding. The four frameworks and strategic interventions developed in this research are novel contributions in India and apply to other emerging cities as well

Should Canada Worry About a Resource Curse?

An abundance of natural resources might seem like something any nation would want to be blessed with. But in some countries, a bounty of energy, minerals and other resources can become as much a curse as a blessing. The difference between whether resources benefit a country’s people, or lead to adversity and even suffering, has everything to do with how a country manages its resources. It is the difference between a resource-rich, free and democratically accountable country, such as Canada, and a resourcerich, corrupt, violent and impoverished country, such as the Democratic Republic of Congo. In many resource-rich countries, the effect of ample natural wealth has been to sever the accountability link between citizens and government, slowing or even reversing democratic and social progress, while mostly enriching a few politically favoured constituencies. Canada’s plentiful resources are an indisputable blessing, and those critics of federal industrial policy who compare this country to illiberal and corrupt “petro-states” are being either ignorant or deceitful. There are numerous critical factors at work here that ensure that the Canadian public benefits, rather than suffers, from our natural endowments. We have a diversity of resources, as opposed to being reliant on a single commodity, and our natural-resource sector makes up only a small portion of our larger economy. We have well-established and diligently enforced standards for financial transparency and accountability, in both the private and public sectors. But, just as importantly, there is a national consensus in Canada that public wealth amassed from resource rents should be invested in strengthening human capital, through education, training and social services, as well as in improved infrastructure and better governance, eventually parlaying natural-resource wealth into a yet larger, further-diversified economy. But Canada — and especially resource-rich provinces, such as Alberta — cannot take these factors for granted. A combination of complacency and natural wealth has the potential to turn a blessing into a curse. Even once reasonably democratic and accountable countries, such as Venezuela, have been caught unprepared on the dangerous double edge of a resource boom and have seen their governance systems substantially eroded. Developing the fiscal capacity to withstand commodity-market shocks, creating effective and durable checks and balances on systems of legislative power, enforcing transparency in budgeting and public-investment management, and maximizing tax efficiencies and tax administration, are all areas where Canadians can and should focus their efforts. These are the fundamental safeguards that will ensure our ample natural resources continue to be seen by our citizens as a blessing and not — as is the unfortunate case in so many other countries — a curse

Support for Workfare and Labor Programs in The Bahamas: The Role of Subjective Poverty, Insecurity, Conservatism, and Empathy.

This research extends the literature on individual-level determinants of workfare and labor programs support (WLPs) using a mixed factors model to explain individual behavior. Extant research focused on institutional factors, which did not sufficiently explain much of the variance. This study, conducted primarily online and through mobile applications in The Bahamas, focused on the individual-level determinants that may explain support for such programs. This research revealed that conservatism, empathy, and government spending efficacy contextualized as goal achievement are significant predictors. We found that support for social spending in this context was affected by whether the respondent was a direct beneficiary or interconnected by filial or friendly relations to a participant. This research is essential, as implementing workfare programs has gained traction with policymakers as part of their arsenal in the public finance model. Subsequently, although social spending is a requirement of all governments, it is often the case that its expenditure produces public concerns and can erode government policy support and create implications for the ballot box