Latest Papers

The latest papers published in the World Economics Journal.



Measuring the Non-observed Economy in Vietnam Measuring the Non-observed Economy in Vietnam
François Roubaud & Van Thi Nghiem, World Economics, June 2022
This article takes advantage of new political demand at the government’s highest level to focus on measurement of the informal economy in Vietnam from a statistical perspective. The main challenges, concepts and definitions regarding the informal economy within the fra ... More


The Impact of Financial Corruption on Economic Performance The Impact of Financial Corruption on Economic Performance
Ade S. Nimri, World Economics, June 2022
This study aims to evaluate the impact of financial corruption on economic performance in Jordan using time series data over the period 1990–2020. It used the dynamic least squares (DOLS) estimation method to examine the impact between the variables using the Corruptio ... More


Inequality: A Problem for the Indian Economy Inequality: A Problem for the Indian Economy
Sheetal Khandre, World Economics, June 2022
The economic slow-down and COVID-19 pandemic have highlighted India’s extreme crisis inequality. India is an unequal country: 84% of household sector income declined in 2021, at the same time that the number of billionaires went up from 102 to 142. According to the Worl ... More


Relationship of Internet Activity to Economic and Social Metrics Relationship of Internet Activity to Economic and Social Metrics
John A. DeLeon, Karen Loveland, Katherine Taken Smith & Lawrence Murphy Smith, World Economics, June 2022
This paper provides a multinational analysis of the relationship of internet activity to economic and social metrics. Analyses were made of 129 countries, all those with complete data for internet usage, economic activity, economic freedom, gender equality, and social p ... More


Fears of Inflation: What’s Going On? Fears of Inflation: What’s Going On?
Graham Bird, World Economics, June 2022
Although there are global differences in rates of inflation, a sharp acceleration in inflation during 2021/22 occurred in most parts of the world. Measurement matters. Differences exist between headline and core rates of inflation. These reflect the composition of infla ... More


Out of the Frying Pan, into the Fire Out of the Frying Pan, into the Fire: The Green Energy Transition, Resource Independence, and the War in Ukraine
Aurélien Pradier & John M. Luiz, World Economics, June 2022
We ask how the war in Ukraine is likely to affect the green energy transition and its changing resource requirements in the longer term, given the resource endowments of Russia and Ukraine. We argue that the invasion of Ukraine complicates Europe’s green energy transiti ... More


The Disconnect of Funding From Wealth Creation The Disconnect of Funding From Wealth Creation: The Corruption of Capitalism
Savvakis C. Savvides, World Economics, June 2022
This article identifies concentration of money and power and loosely regulated financial markets as impeding the efficient allocation of economic resources. The pursuit of return without risk inevitably leads to the transfer of wealth through a failing banking system wh ... More


An Analysis of India’s Trade Intensity with Latin American and Caribbean Countries An Analysis of India’s Trade Intensity with Latin American and Caribbean Countries
Riti Srivastava, World Economics, June 2022
This article aims to establish a better trade relationship between India and Latin American and Caribbean countries, so they come closer, share common interests and find out means of enhancing bilateral trade as a result of bilateral negotiations. It presents Trade Inte ... More


The Drivers Behind Corruption in Official Statistics The Drivers Behind Corruption in Official Statistics: Who wants to control the mirror to society and why
Andreas V Georgiou, World Economics, March 2022
The manipulation of official statistics is grand corruption and political corruption. There is a mechanism that gives rise to phenomena of corruption in official statistics and has component parts: the drivers, the enabling conditions, the modalities and methods used to ... More


Nigerian Statistical Data and their Trustworthiness Nigerian Statistical Data and their Trustworthiness: Its Implication for Economic Planning and National Development
Keziah, Y. Ayuba & Panshak Yohanna, World Economics, March 2022
As at 2020, the population of Nigeria was said to be about 200 million (World Bank, 2020). However, the actual population of Nigeria remains a subject for national debates, since there are no databases for birth or death rates. To ascertain the trustworthiness of the st ... More


Exercising Economic Sovereignty in Today’s Global Financial World Exercising Economic Sovereignty in Today’s Global Financial World: The Lessons from John Maynard Keynes
Biagio Bossone, World Economics, March 2022
In this article, I argue that current macroeconomic models do not recognise the role that "global investors" play in determining the space for effective macroeconomic policies. These important players must be placed at the center of macroeconomic analysis if we are to u ... More


Not Cyclical but Secular Not Cyclical but Secular
Andrew Smithers, World Economics, March 2022
Classical economics assumed that interest rates would adjust, or could be adjusted, to ensure that there was no mismatch between private sector intentions to save and invest. Interest rates were therefore assumed to be the sole policy tool needed to maintain full employ ... More


Diversity and Inclusion Diversity and Inclusion: Charactering the Pace of the Labor Market Recovery by Race and Gender
Azhar Iqbal, World Economics, March 2022
This study employs the natural unemployment rate as a benchmark to characterize the state of the US labor market by race and gender. In our analysis, we find that the COVID recession produced asymmetric economic damages to some segments of the population and that the pa ... More


Total Factor Productivity Growth in Indian Manufacturing Total Factor Productivity Growth in Indian Manufacturing
Abhijeet Bag & Sarbapriya Ray, World Economics, March 2022
Research findings suggest that the trends in total factor productivity (TFP) are highly cyclical across years during the pre-reform period and have shown a similar cyclical trend during the post-liberalisation period in all three measures—GO based, A based and KLEMS mea ... More


Evolving Indian Policy Evolving Indian Policy: It’s not USA vs China, It’s USA, China and Others!
Siddhartha K. Rastogi, World Economics, March 2022
As the world reorients into a bipolar power struggle between the USA and China, India is often touted to be the counterbalancing force to China, mainly due to geographical proximity, size and population. In the post-USSR world and since economic reforms in 1991, India b ... More


Governments Manipulate Data Governments Manipulate Data
Bruno S. Frey, World Economics, December 2021
Governments widely manipulate official economic and social data—but the public tends to disregard this fact. There is extensive empirical evidence that governments extensively manipulate official data. National statistical offices should be independent of their governme ... More


Was the Impact of COVID on UK GDP Real or Statistical? Was the Impact of COVID on UK GDP Real or Statistical?
Colin Ellis, World Economics, December 2021
The COVID-19 pandemic, and measures to fight it such as lockdowns, took a significant toll on economic activity around the world. In many instances, declines in GDP were the steepest on record, with the UK standing out among advanced economies. However, the extent of th ... More


Rules of Origin as Trade Barriers Rules of Origin as Trade Barriers: Towards a Welfare-oriented Economic Society
Olufunlola Rotimi, World Economics, December 2021
On 2 July 2021 the Kingdom of Saudi Arabia clarified, and by so doing fundamentally changed, the rules determining when goods can be said to be a national product originating from within Gulf Cooperation Council (GCC) countries. In other words, it changed its rules of o ... More


The Belt and Road Initiative in an Era of the COVID-19 Pandemic The Belt and Road Initiative in an Era of the COVID-19 Pandemic
Adams Bodomo, World Economics, December 2021
The Belt and Road Initiative (BRI), as launched by China since 2013, is the country’s massive signature infrastructure programme, also called One Belt One Road (OBOR) (in Chinese ????). Through the BRI, China has constructed or is constructing about 2,000 infrastructur ... More


De-Carbonising the World Economy De-Carbonising the World Economy
Julian Gough, World Economics, December 2021
Global temperatures for most of the first two decades of the twenty-first century remained on plateau, showing little response to the 13% rise in the concentration of carbon dioxide in the atmosphere. De-carbonising the world economy, by reducing the burning of fossil f ... More


Analysing the Dynamic Relationship Between Foreign Direct Investment and Trade Balance Analysing the Dynamic Relationship Between Foreign Direct Investment and Trade Balance
Taleb A. Warrad & Ade S. Nimri, World Economics, December 2021
The purpose of this article is to examine the dynamic relationship between FDI and the trade balance in Jordan, by using time series data over the period 1975–2020. In it we used two main variables – Jordan’s trade balance (TB) and foreign direct investment net inflows ... More


ESG: The Unsustainable Investment Opportunity…? ESG: The Unsustainable Investment Opportunity…?
Simon Cole, World Economics, December 2021
Corporate prowess in environmental, social and governance (ESG) has little or no merit as an indicator of superior economic returns. The evidence is considerable, pursuit of performance creates cost to the firm and is a constraint to investment opportunity. ESG measurem ... More


Making the AfCFTA Work for ‘The Africa We Want’ Making the AfCFTA Work for ‘The Africa We Want’
Hippolyte Fofack, World Economics, December 2021
The African Continental Free Trade Agreement (AfCFTA) has been touted as an economic and globalisation game changer because it has the potential to transform African economies and significantly raise Africa’s share of global trade to position the region as an increasing ... More