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on Heterodox Microeconomics |
|
Issue of 2021‒09‒27
fifteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Marco Ranaldi; Branko Milanovic |
| Abstract: | The paper investigates the relationship between capitalism systems and their levels of income and compositional inequality (how the composition of income between capital and labor varies along income distribution). Capitalism may be seen to range between Classical Capitalism, where the rich have only capital income, and the rest have only labor income, and Liberal Capitalism, where many people receive both capital and labor incomes. Using a new methodology and data from 47 countries over the past 25 years, we show that higher compositional inequality is associated with higher inter-personal inequality. Nordic countries are exceptional because they combine high compositional inequality with low inter-personal inequality. We speculate on the emergence of homoploutic societies where income composition may be the same for all, but Gini inequality nonetheless high, and introduce a new taxonomy of capitalist societies. |
| JEL: | D31 P51 |
| Date: | 2020–10 |
| URL: | http://d.repec.org/n?u=RePEc:lis:liswps:803&r= |
| By: | Jon D. Wisman |
| Abstract: | Understanding the role of ideology is of fundamental importance for understanding social dynamics since the rise of the state 5,500 years ago. Yet this importance has not received adequate attention from social scientists and historians. Even when addressed, it most often has suffered from imprecise meaning and a failure to clearly specify why it is effective. Following the usage by Marx, this article defines ideology as an instrument of exploitation which enables the stronger to persuade the weaker to support behavior and institutions that are counter to their interests. Exploitation exists because humans are biologically driven to compete for status which provides them with reproductive advantage. What ultimately drives competition among all species is the struggle to send one’s unique set of genes into posterity. The biological ancestors of all currently living beings did so successfully. This article surveys how this biologically driven struggle eventually led to weapons and social organization that enabled the stronger to subjugate and exploit the weaker. Ideology evolved as religion was transformed to justify this exploitation by depicting it as in accord with cosmic forces. Ideology provided a more efficient means of maintaining exploitation than violence. With the rise of capitalism, secular doctrines, and especially political economy and then economics, joined and eventually mostly replaced religion in serving as ideology justifying exploitation. |
| Keywords: | Ideology, exploitation, inequality, legitimation, religion |
| JEL: | B15 N40 Z12 Z13 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:amu:wpaper:2021-03&r= |
| By: | Lou Plateau |
| Abstract: | La thèse porte sur les organisations de coopération agricole au stade de la production (OCAP) en Belgique. Elle s’inscrit dans le champ de l’économie institutionnelle, de l’économie sociale et de l’économie politique agraire. À partir d’une enquête empirique, la recherche s’efforce d’étayer la thèse de la complexité du fonctionnement interne des OCAP en Belgique étant donné la multiplicité des objectifs poursuivis par leurs membres et la nature des relations sociales dans lesquelles sont insérées ces structures coopératives de production agricole. En tant qu’objet d’étude, les OCAP sont définies comme les formes volontaires de coopération qui portent sur les processus biologiques de la culture des plantes et de l'élevage des animaux. Ces arrangements institutionnels sont caractérisés par la construction d'un ensemble de règles collectives qui organisent la mise en commun de ressources et d’activités et par la négociation entre associés des critères de répartition des résultats monétaires et non monétaires issus du travail. Les OCAP se distinguent des coopératives agricoles largement développées depuis le 19e siècle en Europe de l’Ouest pour offrir des services en amont ou en aval de la production. Ces coopératives de services ont été constituées pour faciliter l’intégration verticale sur les marchés d’exploitations indépendantes tandis que les OCAP, en intervenant au stade de la production, organisent la coopération horizontale entre agriculteurs associés.Les OCAP sont relativement peu développées en Europe et ailleurs dans le monde. Pourtant, les arguments pour coopérer au stade de la production agricole sont multiples et articulent des motivations d’ordre économique, social, politique, écologique et idéologique. Elles relèvent notamment de la volonté d’accéder aux ressources productives, de bénéficier d’économies d’échelle, d’améliorer les conditions de travail ou de renforcer les interdépendances des exploitations avec leur environnement biophysique et socioéconomique. Plusieurs raisons peuvent toutefois expliquer le fait que les OCAP sont peu répandues, comme l’attachement des agriculteurs à leur terre ou l’apparition de déséconomies d’échelle à partir d’un seuil de dimension relativement bas, liées aux coûts de déplacement des travailleurs et du matériel et aux coûts de coordination du travail. Malgré ces difficultés, depuis les années 2000 en Belgique, de nouvelles initiatives coopératives au stade de la production agricole sont portées par des néo-agriculteurs et coexistent avec les autres types d’exploitations agricoles. Notre recherche interroge en particulier la diversité des pratiques organisationnelles déployées au sein des OCAP à travers l’analyse des conditions sociales de production, des mécanismes qui permettent d’articuler la multiplicité des objectifs poursuivis et des processus de démocratisation de l’économie rurale. Pour cela, nous avons mené trois enquêtes empiriques complémentaires à partir d’une combinaison de méthodes de recherche qualitative. La première permet de caractériser la diversité organisationnelle des OCAP par la construction d’une typologie empirique menée sur la base d’un échantillon de 31 organisations. Trois variables dichotomiques définissent les types d’OCAP :la mise en commun du travail de la terre, le contrôle de la production et l’étendue de la coopération. L’analyse des conditions sociales de production dans chacun des types procède ensuite à l’examen des formes d’accès au foncier et au capital d’exploitation, des modes de prise de décision, des conditions de travail et des modalités de répartition des résultats produits. Cette première étude met finalement en évidence les tensions qui caractérisent la nature des relations que les agriculteurs nouent entre eux et avec d’autres catégories d’acteurs. La deuxième enquête empirique investigue les mécanismes par lesquels les membres des structures intégrales de coopération agricole, dont la particularité est d’organiser en commun le travail de la terre selon des principes agroécologiques, parviennent à construire une cohérence interne à leur organisation étant donné la multiplicité des objectifs qu’ils poursuivent. À travers une analyse comparative de dix organisations, les structures coopératives de production agroécologique sont alors étudiées à travers le prisme des organisations hybrides car, au-delà de la logique commerciale, elles combinent des demandes contradictoires issues de leur engagement dans des logiques d’autogestion, d’agroécologie et d’ancrage territorial. Après avoir défini les propriétés de ces logiques institutionnelles, l’analyse met en évidence les tensions paradoxales qui découlent de leur combinaison et les réponses organisationnelles mises en œuvre pour poursuivre dans la durée les multiples rationalités engagées. La troisième analyse consiste en une monographie d’une OCAP dont la singularité est de répartir le contrôle de la production agroécologique entre agriculteurs et citoyens. L’analyse vise à préciser la notion de démocratie économique à partir des principes qu’elle sous-tend et des principales praxis démocratiques mises en œuvre par les acteurs pour réguler leurs activités économiques. En particulier, nous avons cherché à comprendre les contradictions des pratiques organisationnelles avec les principes de démocratie économique et avec certains fondements du mouvement coopératif, ainsi que les tensions internes qui en résultent. Ce travail nous permet finalement d’appréhender dans une perspective critique et nuancée la transformation du rôle des citoyens dans les activités économiques et la diversification contemporaine des formes coopératives dans le secteur agricole et alimentaire induites par l’émergence d’initiatives aux multiples parties prenantes. |
| Abstract: | This thesis focuses on agricultural production cooperatives (APCs) in Belgium. It is framed within the fields of institutional economics, social economics, and agrarian political economy. Based on qualitative empirical research, this work seeks to untangle the thesis of the complexity of the internal functioning of APCs in Belgium, given the multiplicity of objectives pursued by their members, and the nature of the social relations in which these agricultural production cooperatives are embedded. APCs are defined here as voluntary forms of cooperation that deal with the biological processes of cropping plants and rearing animals. These voluntary arrangements are premised upon the construction of a set of collective rules that organize the pooling of resources and activities, as well as the negotiation between associates of the criteria for redistribution of monetary and non-monetary working outcomes. APCs are different from the agricultural cooperatives that, since the 19th century, have developed widely in Western Europe to offer upstream or downstream production services. The latter were established to facilitate the vertical integration of independent farms into markets. Instead, APCs, by intervening at the production stage, organize horizontal cooperation between associated farmers.APCs are relatively undeveloped in Europe and elsewhere in the world. However, incentives for cooperating at the agricultural production stage are multiple, and articulate economic, social, political, ecological, and ideological motivations. Such motivations relate to the desire to access productive resources, to benefit from economies of scale, to improve working conditions, or to strengthen the interdependence of farms with their biophysical and socioeconomic environment. Notwithstanding this, various elements may explain the limited presence of APCs such as farmers' attachment to the land or the appearance of diseconomies of scale from low dimension thresholds, linked to the costs of moving workers and equipment and the costs of coordinating work. Despite these difficulties, in Belgium, from the 2000s, new initiatives of agricultural production cooperation have been created by neo-farmers, and coexist with other social types of farms.Our research specifically examines the diversity of organizational practices implemented within APCs through the analysis of the social conditions of production, the mechanisms that allow the combination of the multiple objectives pursued and the processes of democratization of the rural economy. To do this, we conducted three complementary empirical analyses using a combination of qualitative research methods. The first analysis allows us to characterize the organizational diversity of APCs by constructing an empirical typology based on a sample of 31 organizations. Three dichotomous variables define the types of APCs: the pooling of labour on the land, the control of production, and the extent of cooperation. From the analysis of the social conditions of production in each type of APCs, it then proceeds to examine the forms of access to land and capital, the modes of decision-making, the working conditions, and the modalities of outcomes distribution.The second empirical study investigates the mechanisms by which members of the integral structures of agricultural cooperation, whose peculiarity is to organize farming labour collectively according to agroecological principles, manage to build an internal coherence within their organization given the multiple objectives they pursue. Through a comparative analysis of ten organizations, agroecological production cooperatives are studied through the prism of hybrid organizations, as they combine contradictory demands stemming from their commitment to logics of self-management, agroecology, and territorial embeddedness. After defining the properties of these institutional logics, the analysis reveals the paradoxical tensions that arise from the combination and the organisational responses adopted to pursue this multiplicity of rationalities on the long run. The third empirical analysis consists of a single case study on one type of APC, whose singularity is to allocate the control of production between farmers and citizens. Through an in-depth study of a citizen agroecological production cooperative, the analysis aims to clarify the notion of economic democracy by looking at its underpinning principles, and at the main democratic praxis that actors implement to regulate their economic activities. In particular, we unveil the internal contradictions that emerge from the organizational practices with the principles of economic democracy and certain foundations of the cooperative movement. This work finally allows us to grasp, through the adoption of a critical and nuanced perspective, the transformation of the citizen's role in economic activities, and the contemporary diversification of cooperative forms propelled by the emergence of multi-stakeholder initiatives in the agricultural sector. |
| Keywords: | Agroécologie; Coopérative agricole; Autogestion; Développement durable; Agroecology; Agricultural cooperative; Self-management; Sustainability |
| Date: | 2021–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/330869&r= |
| By: | Cartelier, Jean |
| Abstract: | RESUMEN: La teoría económica ya no tiene el respaldo de los economistas académicos ni de otros intelectuales. Hay muchas razones para este descrédito, pero ellas tienen que ver principalmente con la reducción del área de investigación, como consecuencia de una necesidad cada vez mayor de coherencia y de la voluntad de probar empíricamente algunos supuestos fundamentales que borra la frontera tradicional entre las disciplinas. El desarrollo de técnicas de procesamiento de datos cuantitativos y la naturaleza de las preguntas planteadas, hace que muchos estudios empíricos hagan parte tanto de la economía como de la sociología. Este declive de la teoría económica se refiere principalmente al paradigma dominante, el cual dio a los economistas, simultáneamente, el tipo de problemas a resolver (existencia y optimalidad de los equilibrios) y las herramientas para hacerlo (modelos matemáticos que asocian comportamientos racionales y condiciones de equilibrio). Ese declive tiene poco que ver con el paradigma dominado que Schumpeter llama análisis monetario y que se opone a la teoría del valor. Ilustrado por Steuart en siglo XVIII y por Keynes en el siglo XX, este análisis monetario se caracteriza por otras cuestiones (viabilidad en lugar de equilibrio) y otras representaciones de la economía (matrices de pagos en lugar de matrices de exceso de demanda). ABSTRACT: Economic theory is has lost most of its attractiveness amongst academic economists. Multiple reasons may explain that discredit but two seem of special interest: most severe requirements about logical consistency and questions to be solved have contributed to shrink the field of economic theory while a strong desire to confront assumptions with reality have blurred the frontier between economics and social sciences. The remarkable development of quantitative techniques (big data) and the type of questions on the agenda have made empirical economics and empirical sociology almost impossible to distinguish. The neglect of economic theory is more evident for the dominant paradigm than for the dominate one, called monetary analysis by Schumpeter who opposed it to real or value analysis. Illustrated by Steuart in 18th century and Keynes in the 20th century, monetary analysis deals with different questions (viability rather than equilibrium) and resorts to different tools (payment matrices rather than excess demands). |
| Keywords: | Teoría, postulados, empirismo, análisis monetario |
| JEL: | A10 A11 A12 B10 B20 |
| Date: | 2021–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:col:000196:019617&r= |
| By: | Bruno S. Frey |
| Abstract: | Nowadays, academic journals of high standing rarely accept a conceptual idea in a paper not instantly accompanied by econometric estimates. The idea would almost certainly get rejected. Empirical validation based on past statistical data has produced an unfortunate backward orientation in economics. While one can learn from the past, this approach fails when the underlying conditions strongly change. The paper suggests various possibilities to overcome the intense publication pressure in so-called top journals and the overemphasis on instant empirical evidence. Academia is, however, unlikely to adapt. As economics is too backward oriented, other disciplines or cranks may well dominate future economic policy. |
| JEL: | A10 A11 B40 C10 C80 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:cra:wpaper:2021-32&r= |
| By: | Estefanía Galván (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía) |
| Abstract: | Studies for high-income countries have shown that the prescription that a man should earn more than his wife holds back women’s performance in the labour market, evidencing the importance of gender identity norms in explaining persistent gender gaps. Using data on couples in Uruguay for the period 1986-2016, this paper analyses behavioural responses to the male breadwinner norm, investigating the role of job informality as an additional mechanism of response to gender norms. My results show that the higher the probability that the wife earns more than her husband, the less likely she is to engage in a formal job, providing evidence that gender norms affect not only the quantity of labour supply (i.e. labour force participation and hours of work), but also the quality of jobs in which women are employed. Moreover, I also identify meaningful effects of the norm on men: those with lower potential earnings than their wives react to the norm by self-selecting into better-paid formal jobs. Not considering these effects would lead to underestimate the consequences of gender norms on labour market inequalities in the context of developing countries. |
| Keywords: | gender identity, social norms, informality, labour supply, housework. |
| JEL: | D13 J16 J22 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ulr:wpaper:dt-14-21&r= |
| By: | Svartzman Romain,; Espagne Etienne,; Gauthey Julien,; Hadji-Lazaro Paul,; Salin Mathilde,; Allen Thomas,; Berger Joshua,; Calas Julien,; Godin Antoine,; Vallier Antoine |
| Abstract: | This paper contributes to an emerging literature aimed at uncovering the linkages between biodiversity loss and financial instability, by exploring biodiversity-related financial risks (BRFR) in France. We first build on previous studies and propose an analytical framework to understand BRFR, emphasizing the complexity involved and the limited substitutability of natural capital. We then provide quantitative estimates of dependencies and impacts of the French financial system on biodiversity. We find that 42% of the value of securities held by French financial institutions comes from issuers that are highly or very highly dependent on one or more ecosystem services. We also find that the accumulated terrestrial biodiversity footprint of these securities is comparable to the loss of at least 130,000 km² of “pristine” nature, which corresponds to the complete artificialization of 24% of the area of metropolitan France. Finally, we suggest avenues for future research through which these estimates could feed into future assessments of physical and transition risks. |
| Keywords: | Biodiversity; Financial stability; Environmental risks; Scenario analysis; Financial markets and the macroeconomy; Valuation of ecosystem services. |
| JEL: | C67 D81 E44 G32 Q51 Q57 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:826&r= |
| By: | Deepak Malghan; Hema Swaminathan |
| Abstract: | Di?erences in economic outcomes between men and women within a household, or intra-household gender inequality has su?ered from relative neglect despite a renewed focus on gender inequality. Using global micro-data from nearly three million house-holds, we present evidence that this neglect renders our understanding of the relation-ship between gender inequality and economic development analytically and empirically incomplete. We show that intra-household gender inequality in earnings is persistent across the income distribution, across a wide range to countries, and over four-decades. For a sub-sample of countries, we show that the relationship between intra-household gender inequality and household economic status is non-monotonic – that we refer to as the “micro-Kuznets” relationship. We also develop an empirical framework to mea-sure the aggregate welfare loss from intra-household gender inequality. For a range of plausible inequality aversion assumptions, we report an median welfare loss of over 15% of aggregate earnings. |
| JEL: | D63 I31 J16 D10 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:lis:lwswps:34&r= |
| By: | Domenico Delli Gatti; Severin Reissl; Enrico Turco |
| Abstract: | We employ a new version of the ABC macro-epidemiological agent based model presented in Delli Gatti and Reissl (2020) to evaluate the effects of vaccinations and variants on the epidemic and macroeconomic outlook. Vaccination plays the role of a mitigating factor, reducing the frequency and the amplitude of contagion waves, while also significantly improving macroeconomic performance. The emergence of a variant, on the other hand, plays the role of an accelerating factor, increasing the volatility of epidemic curves and worsening the macroeconomic outlook. If a more contagious variant emerges after vaccination becomes available, therefore, the mitigating factor of the latter is at least partially offset by the former. A new and improved vaccine in turn can redress the situation. Vaccinations and variants, therefore, can be conceived of as drivers of an intertwined cycle impacting both epidemiological and macroeconomic developments. |
| Keywords: | agent-based models, epidemic, Covid, vaccination, variant |
| JEL: | E21 E22 E24 E27 I12 I15 I18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9291&r= |
| By: | Mahamady Ouedraogo (CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | À la conférence sur l'arbre et la forêt tenue à Paris du 5 au 7 février 1986, Thomas Sankara (36 ans), Président du Burkina Faso (1983-1987), proposait qu'un pour cent des recherches spatiales soit dédié à la lutte contre la dégradation des forêts 3. Reçu le lendemain, en interview, à la télévision LCP le journaliste lui demande d'où vient ce chiffre 1% ; s'il était suffisant et comment il a été évalué. Sankara répondit : « par-delà le chiffre lui-même ce que nous voulons c'est imposer la prise de conscience devant un problème, un fléau aussi grave que la désertification … les perturbations climatique et écologique. Qui peut démontrer que ces engins que l'on envoie dans l'espace ne perturbent pas l'équilibre écologique (…) ». Cet article traite des questions climatiques dans le discours et le projet politique du Président Thomas Sankara. Trois perspectives d'analyse sont envisagées. Il s'agit, en premier lieu, de documenter cette prise de conscience, précoce, des enjeux climatiques dans le programme politique de Sankara. En deuxième temps, l'article met en évidence les initiatives endogènes d'adaptation et de lutte contre le changement climatique au Burkina Faso sous la période révolutionnaire. En troisième lieu, il s'agira de montrer comment l'expérience révolutionnaire Burkinabé peut nourrir les politiques publiques de lutte contre les dérèglements climatiques aujourd'hui mais aussi sustenter un débat public et une prise de conscience politique sur la lutte, l'adaptation et la résilience aux effets des dérèglements climatiques. |
| Keywords: | Sankara,Climat |
| Date: | 2020–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03344143&r= |
| By: | Ahmet Faruk Aysan (Department of Economics - Boğaziçi University [Istanbul]); Jamila Abubakar; Ahmet Aysan |
| Abstract: | This paper is a bibliometric study of the literature in Islamic social finance. The study analyses 595 articles, conference papers, and book chapters in Islamic social finance from 1991 to 2020 published in 262 Scopus indexed journals. The authors sourced the bibliographic data using the keywords "Islam and social finance," "waqf," "zakat," "microfinance," and variations thereof. This study is essential, especially in the wake of COVID-19 pandemic and the pandemic-induced economic disruption leading to increased global income and social inequalities, putting even more pressure on the SDGs funding gap. Novel solutions to plug the funding Gap are being sought, and recent literature has shown Islamic social finance's potential as a solution to the SDG's funding gap. The study finds that researchers in the field closely link Islamic social finance with sustainability and sustainable development concepts, as evidenced in keywords used by authors. We also find that Malaysia and Indonesia are leading the research in ISF. The study aims to map the field of Islamic social finance and provide a reference point for future researchers to identify the gaps in the literature and their role in enriching academic discourse in ISF to position Islamic finance appropriately in the sphere of development economics. |
| Keywords: | Islamic social finance,Zakat,Waqf,Islamic microfinance,bibliometric,trends,sustainable |
| Date: | 2021–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03341729&r= |
| By: | Martha Orellano; Christine Lambey-Checchin (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA [2017-2020] - Université Clermont Auvergne [2017-2020]); Khaled Medini; Gilles Neubert |
| Abstract: | The notion of sustainable innovation (SI) emerged recently in the academic literature and evokes deep changes in organizations' products, processes, and practices to favour the creation of social and environmental value in addition to economic returns. The development of SI implies a collaborative process that requires the orchestration of several actors and streams of knowledge to be successful. Indeed, companies adopting the SI path need structured methodologies to guide the collaboration process with internal and external actors and support the decision process. Nevertheless, the literature has focused on the analysis of determinants and drivers of sustainable innovation development, while the process perspective has been discussed less. Through an in-depth case study in a large-sized company in France, this article proposes a methodological framework to guide the collaborative process in the early phases of sustainable innovation development. The framework relies on a combination of qualitative research and a multicriteria decision aiding method (AHP). The contributions of this work address two main aspects: (i) the conceptualization of sustainable innovation (SI) and (ii) the collaborative process between internal and external actors to develop SI. Firstly, our study leads to two additional dimensions to complete the concept of SI, traditionally based on the three pillars of sustainability (economic, environmental, and social), by adding the functional and relational dimensions. Secondly, concerning the collaborative process to develop SI, our framework proposes a structured methodology following five steps: definition of the project scope, setting actors' motivations, defining satisfaction criteria, proposing SI solutions, and performing a decision-aiding process to define the preference profiles of the key actors. |
| Keywords: | case study research,decision-aiding,collaboration,customer-driven innovation,G. A Methodological Framework to Support the Sustainable Innovation Development Process: A Collaborative Approach sustainable innovation,Neubert,K.,Medini,Orellano,C.,Lambey-Checchin,M. |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03341881&r= |
| By: | Abubakar, Jamila; Aysan, Ahmet Faruk |
| Abstract: | This paper is a bibliometric study of the literature in Islamic social finance. The study analyses 595 articles, conference papers, and book chapters in Islamic social finance from 1991 to 2020 published in 262 Scopus indexed journals. The authors sourced the bibliographic data using the keywords “Islam and social finance,” “waqf,” “zakat,” “microfinance,” and variations thereof. This study is essential, especially in the wake of COVID-19 pandemic and the pandemic-induced economic disruption leading to increased global income and social inequalities, putting even more pressure on the SDGs funding gap. Novel solutions to plug the funding Gap are being sought, and recent literature has shown Islamic social finance’s potential as a solution to the SDG’s funding gap. The study finds that researchers in the field closely link Islamic social finance with sustainability and sustainable development concepts, as evidenced in keywords used by authors. We also find that Malaysia and Indonesia are leading the research in ISF. The study aims to map the field of Islamic social finance and provide a reference point for future researchers to identify the gaps in the literature and their role in enriching academic discourse in ISF to position Islamic finance appropriately in the sphere of development economics. |
| Keywords: | Islamic social finance, Zakat, Waqf, Islamic microfinance, bibliometric, trends, sustainable |
| JEL: | G00 G19 P00 |
| Date: | 2021–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109637&r= |
| By: | Ariane Tichit (CERDI - Centre d'Études et de Recherches sur le Développement International - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne) |
| Abstract: | This article analyses the social representations of money from survey data. More specifically, it tests how organizers of a complementary currency system have a distinct perception of money compared to other citizens. The main results confirm the existence of significant differences between the two groups. The structure of their representations shows that for the local currency members money is less tied to official institutions, to the symbol of the sovereign State, to labour and to wages than for the representative population segment. This confirms a number of theoretical studies that see these social innovations as forms of protest against the standard system, questioning the sovereign State currency and close to the concept of unconditional income. Local currencies, through the different social representations of money they contain, could well be drivers of societal change. |
| Keywords: | Social representations of money,Survey data,Abric method,Complementary currencies |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03338991&r= |
| By: | Rosero Sánchez, Andrés Mauricio |
| Abstract: | RESUMEN: El objeto de este estudio es contrastar la teoría austriaca del ciclo económico con la crisis económica colombiana de 1998-2003. Para ello, se recurre a la obra de Huerta de Soto (“Dinero, Crédito Bancario y Ciclos Económicos†, 2012), quien desglosa el ciclo económico en una secuencia de seis efectos macroeconómicos fácilmente contrastables con la evidencia empírica y que suelen ponerse en marcha tras una política monetaria expansiva. A lo largo del estudio, se cotejan cada uno de dichos efectos con la información estadística disponible y, mediante la revisión de las opiniones de expertos y análisis de estadística descriptiva, se muestra cómo cuatro de los seis efectos macroeconómicos que según Huerta de Soto (2012) componen el típico ciclo económico se hicieron patentes en la economía colombiana a fines del siglo XX. Adicionalmente, se encuentra verosimilitud entre la causa teórica del ciclo económico desde la perspectiva austriaca y las severas expansiones monetarias y crediticias efectuadas en Colombia entre 1992 y 1993. A grandes rasgos, la teoría austriaca del ciclo económico permite explicar la crisis colombiana de 1998-2003. Abstract: The purpose of this study is to make a contrast between the Austrian business cycle theory (ABCT) and the Colombian economic crisis of 1998-2003. For that, we resort to the work of Huerta de Soto (“Money, bank credit and economic cycle†, 2012), who breaks down the cycle in a sequence of six macroeconomic effects that are easily verifiable and set off after an expansionary monetary policy. Throughout the study, each effect is compared with the available statistical information and with the opinion of experts. We are able to demonstrate how four of the six macroeconomic effects described by Huerta de Soto (2012) are eventually present in the Colombian economy of the last decade of the twentieth century. In addition, we find that the Austrian theoretical cause of the cycle is consistent with the severe monetary and credit expansions observed in Colombia between 1992 and 1993. To sum up, the Colombian crisis of 1998-2003 can be roughly explained using the ABCT. |
| Keywords: | teoría austriaca del ciclo económico, crisis económica colombiana de 1999, burbuja inmobiliaria, efectos de la política monetaria, crisis financieras |
| JEL: | B53 E44 E58 G28 N26 |
| Date: | 2021–05–07 |
| URL: | http://d.repec.org/n?u=RePEc:col:000196:019619&r= |