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on Heterodox Microeconomics |
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Issue of 2018‒10‒08
seventeen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | John B. Davis (Department of Economics Marquette University) |
| Abstract: | This paper uses a core-periphery distinction to characterize contemporary economics, economic methodology, and also today's world economy. First, it applies the distinction to the organization of contemporary economics through an examination of the problem of explaining economics' relations to and boundaries with other disciplines. Second, it argues that economics' core-periphery organization is replicated in a similar organization of the use and practice of contemporary economic methodology in economics. Third, it draws on the use of the core-periphery thinking in economics itself and the uneven development of the world economy to provide possible foundations for economics and economic methodology being organized in core-periphery terms. Fourth, the paper briefly discusses three as a potential countervailing forces operating on the development of contemporary economics that might work against its core-periphery organization. |
| Keywords: | core-periphery, economics and other disciplines, economic methodology, underdevelopment |
| JEL: | A12 B41 B50 O20 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:mrq:wpaper:2018-04&r=hme |
| By: | Jean-Luc Moriceau (DEFI - Département Droit, Economie et Finances - TEM - Télécom Ecole de Management - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School, LITEM - Laboratoire en Innovation, Technologies, Economie et Management - UEVE - Université d'Évry-Val-d'Essonne - IMT-BS - Institut Mines-Télécom Business School); Marie-Astrid Le Theule (LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM]); Yannick Fronda (DEFI - Département Droit, Economie et Finances - TEM - Télécom Ecole de Management - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School, LITEM - Laboratoire en Innovation, Technologies, Economie et Management - UEVE - Université d'Évry-Val-d'Essonne - IMT-BS - Institut Mines-Télécom Business School) |
| Abstract: | For Hirschman (1983, 1986, 1995), in case of dissatisfaction, exit and loyalty are not the only kinds of agency, voice is a third option. But what makes voice performative? We propose to study voicing not as argumentative speech or a sign-making but as performance (Schechner, 1995, 2002). An exploratory qualitative study, in which a voice consisted simultaneously of a hunger strike and the dramatization of this protest in a play, shows a set of performative dynamics. Five lessons regarding voice performativity are proposed, concerning the existence of exit door(s), theatricality and performance, voice parasiting, role of contexts and the openness to conciliation. |
| Abstract: | Pour Hirschman (1983, 1986, 1995), en cas d'insatisfaction, nous n'avons pas que la sortie (exit) ou la loyauté (loyalty) comme capacité d'action, nous pouvons aussi prendre la parole (voice). Mais qu'est-ce qui rend une prise de parole performative ? Nous proposons d'étudier la prise de parole non comme une argumentation ou un signe mais comme une performance (Schechner, 1995, 2002). Une étude exploratoire qualitative, où une prise de parole a consisté simultanément en une grève de la faim et en la dramatisation de cette protestation dans une pièce de théâtre, montre un ensemble de dynamiques performatives. Cinq enseignements quant à la performativité de la prise de parole sont proposés, concernant l'existence de porte(s) de sortie, la théâtralité et la performance, le parasitage de la parole, le rôle des différents contextes et l'ouverture à la conciliation. |
| Keywords: | Voice,Performativity,Performance,Protest,Prise de parole,Performativité,Protestation |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01769923&r=hme |
| By: | Heise, Arne |
| Abstract: | In diesem Beitrag geht es darum, den Postkeynesianismus als paradigmatische Alternative zum herrschenden neoklassischen Mainstream etwas näher kennenzulernen. Es zeigt sich sehr schnell, dass der Postkeynesianismus keine einheitliche Denkschule darstellt, sondern vielmehr eine Vielzahl von theoretischen Ansätzen darunter zu verstehen ist, die eine Reihe von methodologischen und epistemologischen Gemeinsamkeiten aufweist und die einige identitätsstiftende Postulate verbindet. Zum konkreten Nachvollzug dieser Postulate aus dem axiomatischen Kern des Postkeynesianismus wird dann darauf verzichtet, dass Kaleidoskop postkeynesinaischer Theorie mit kaleckianischer, kaldorianischer oder gar sraffianischer Grundlage aufzuzeigen, sondern es wird vielmehr nur ein Postkeynesianismus - die monetäre Theorie der Produktion - in seiner paradigmatischen und formalen Struktur beleuchtet und die darauf aufbauende Theorie der Marktteilnahme als alternative Theorie der Wirtschaftspolitik dargelegt. |
| Keywords: | Postkeynesianismus,heterodoxe Ökonomik,Neoklassik,Paradigma |
| JEL: | B41 B50 B59 E11 E12 E60 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cessdp:69&r=hme |
| By: | Munir, Kamal; Naqvi, Natalya |
| Abstract: | Despite theoretical justifications and empirical evidence that state-owned enterprises have played an important role in late development, as well as over three decades of evidence that privatization programmes since the 1980s have had mixed results at best, international financial institutions continue prescribing privatization as a panacea for developing countries. Pakistan is an interesting case to understand why privatization is still considered desirable, because it is one of a set of developing countries that have whole-heartedly implemented Washington Consensus policies. In this context, we analyse privatization in two key economic sectors in Pakistan: energy and banking. Using qualitative and quantitative data, we describe the motivations behind these privatizations, the process by which they were carried out, and analyse the post-privatization performance of these organizations and sectors. We find that in both cases (a) the privatizations failed not only with respect to their stated aims, leading to a decline in national productive capabilities, but also had adverse distributional consequences, shifting the rewards to the buyers while the risks and costs remained with the public sector, and (b) the suboptimal outcomes of the privatizations went largely unchallenged aided by a prevalent neoliberal view amongst the country's economic policy makers and intelligentsia. Our analysis sheds new light on the process by which privatization in the absence of a state with the capacity to discipline business interests has enabled these interests to obtain state-sponsored rents without bringing any of the associated benefits for economic development. |
| JEL: | N0 |
| Date: | 2017–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:90250&r=hme |
| By: | Elveren, Adem Yavuz; Özgür, Gökçer |
| Abstract: | This paper analyses the effects of military expenditure on the rate of profits in Turkey during the period of 1950–2008 by employing a Markov-switching autoregression model within a Marxist framework for the first time. Findings show that the effect of military expenditure on profit rates is nonlinear—negative during turbulent years and positive in more tranquil years. The negative effects are larger than positive effects, but the probability of positive effects prevailing is larger. |
| Keywords: | military expenditures; profit rate; Turkey |
| JEL: | B5 B51 H5 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88848&r=hme |
| By: | Rünzel, Max Allan Siegfried; Han, Doo Bong |
| Abstract: | This study aims at evaluating agricultural co-operative performance in Korea based on financial data vis-à-vis trade liberalisation after subsequent Free Trade Agreements. With the help of the Du Pont expansion method this paper examines the financial performance and its drivers for 1,060 agricultural primary Korean co-operatives between 2012 and 2016 within the Korean National Agricultural Cooperatives Federation. Subsequently, we estimate the effect of the producer protection ratio, agricultural export and import volumes, co-operative size and world food prices on co-operatives' net profit margins, total asset turnovers and equity multipliers. The empirical results show that trade liberalisation has an ambiguous effect on agricultural co-operatives. Increased exports have a positive effect on the co-operatives' return on equity and profitability while imports have a reducing effect. Greater import and export volumes do not result in significant effects on efficiency and solvency. This study provides valuable lessons for countries seeking to alleviate external shocks on farm income and the rural economy following trade liberalisation by emphasising strong co-operative structures, as benefits and bottlenecks of the co-operative organisational structure are displayed. |
| Keywords: | Agricultural Finance, International Relations/Trade |
| Date: | 2018–01–17 |
| URL: | http://d.repec.org/n?u=RePEc:ags:saea18:266571&r=hme |
| By: | Machina, Henry; Ngoma, Hambulo; Kuteya, Aukland |
| Abstract: | Governments in Sub-Saharan Africa have been implementing agricultural subsidy programs aimed to raise productivity and promote household food security, among other things. Despite positing some gains in raising productivity, subsidies through the conventional or traditional Farmer Input Support Program (FISP) have been found to crowd out demand for commercial fertilizer. This paper asks if subsidies can reduce the gendered productivity gaps in agriculture. Applying panel data methods to the two-wave Rural Agricultural Livelihoods Surveys data collected in 2012 and 2015, the study found that male-managed plots had an average 34 kg/ha yield advantage over female-managed plots, suggesting gendered productivity gaps. The main empirical results suggest that access to FISP does not disproportionately raise crop productivity for female-managed plots. Thus, FISP is insufficient to address the male-female productivity gaps. While improving access to productive inputs for women is important to address gender productivity gaps, this will need to be complemented with deliberate measures to address the social-cultural norms that tip the balance of power dynamics, rights and entitlements towards men. |
| Keywords: | FISP, Productivity gap, gender, Zambia |
| JEL: | Q18 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87099&r=hme |
| By: | Emilie Lanciano (COACTIS - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet [Saint-Étienne]); Séverine Saleilles (SAF - Laboratoire de Sciences Actuarielle et Financière - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon) |
| Abstract: | The literature in Social Movement Theory, Organization Studies and Entrepreneurship emphasizes on the linkages between social movement action and economic organization. Indeed, social entrepreneurship and social movement studies tend to be more and more linked: activists and social entrepreneurs do not represent separate and distinct actors with different logics of action, but tend to transfer their tactics, such as framing, mobilization, protest and negation. This paper explores how activism and entrepreneurship can be combined in an innovative way by small firms in order to contribute to an industry's transformation towards sustainable development. We specially investigate the field of food industry and Alternative Food Networks. In a context of growing interest and sensitivity towards more sustainable food models, how do small firms combine activism and entrepreneurship to frame grassroots innovation processes and translate this frame into organizational model? |
| Date: | 2017–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01879116&r=hme |
| By: | Wasay Majid |
| Abstract: | NZ housing allowance is a dualist regime having a cash subsidy known as the Accommodation Supplement (AS) and a stock of social housing in the rental market. Apart from State housing tenants, it is not easy to identify if a potential tenant is receiving any (housing) subsidy. I show that NZ housing LR equilibrium data for the previous century tells a story of consistent fundamentals shaping the sector. I then point to the emergence of financialised residential capitalism which begins to appear in the data post 1990 reforms via a structural shift. I witness disequilibrium in the housing markets which is better explained by bank behaviour than fundamentals, possibly assisting commodification of housing in NZ. Bank behaviour towards credit lending for housing needs appears as a fundamental determinant for modelling to avoid omitted variable bias. This helps to better understand asset price (house) inflation which I call “affordability inflation”. Theory and data present robust indications how housing markets disrupt rental markets. Ripples into the NZ rental markets are also witnessed. My analysis leans towards an idea of (a sort of) ‘institutional transformation’ being set in place leading to a growing private rental sector, and NZ losing its traditional role of a home owning democracy. In effect, I show that ‘velocity of tenure shift’ is on the rise in NZ, with rapid mortgage-debt led accumulation tipping in favour of investment property instead of home ownership. Housing cash subsidy results in increased disposable / residual incomes. Although, this argument lends support to the tool but says nothing about its efficiency, which lies solely in its structural formation. The case for ‘landlord capture’ and ‘fiscal blowout’ are examined. Comparative analysis of the dual housing regime is deconstructed in its detail towards interesting revelations. In case of AS, the picture almost suggests a ceiling mechanism at work within the complex layers of the subsidy, in effect, comfortably managing any risk of a ‘fiscal blowout’ under the subsidy’s conditions at present. Alternatively, social housing results in ‘perfect landlord capture’ – when mkt rents increase, change in subsidy goes to the landlord (i.e. Crown). It is argued that rapid financialised residential capitalism and the resulting institutional shift require serious attention. I explain that NZ is an outlier in the typologies for the varieties of residential capitalism pioneered by Schwartz and Seabrooke (2008). On the policy front, I attempt to construct an ordinal index to measure the Gap in the Accommodation Supplement Promise (GASP) for use as a policy instrument for the government in future. The premise being the crucial importance of efficiently structured housing policy tools that are critical in an environment witnessing rapid residential capitalism with falling homeownership and an increasing reliance on a rental market. |
| Keywords: | Financialisation of real estate; Housing allowance; Rental markets; Residential capitalism |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_139&r=hme |
| By: | Mariya Brussevich; Era Dabla-Norris; Christine Kamunge; Pooja Karnane; Salma Khalid; Kalpana Kochhar |
| Abstract: | This SDN examines gender dimensions of technology and the future of work using individual level measures of task composition for a large sample of advanced and emerging market economies. Specifically, the SDN (1) provides stylized facts on women and men’s exposure to routineness and ICT across sectors, occupations, competencies, and countries; (2) empirically analyzes the contribution of differences in the routinization of work and ICT use in explaining the gender wage gap across individual countries; (3) predicts the impact of automation on women’s employment across sectors, occupation, and countries and estimate this risk of automation at the individual level, drawing on rich microdata on individual characteristics (literacy, numeracy, education) as well as detailed information on task composition of workplace activities; and (4) identifies fiscal and other policies for closing the gender gap and coping with technological change. |
| Keywords: | Office automation;Technological change;Gender;Labor;Gender equality;Labor force participation;Automation; Technological Change; Jobs; Female Labor Force; Occupational Choice; Gender Equality |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfsdn:18/07&r=hme |
| By: | Pokharel, Krishna; Archer, David W.; Featherstone, Allen M. |
| Keywords: | Ag Finance and Farm Management, Agribusiness Economics and Management, Risk and Uncertainty |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274109&r=hme |
| By: | Raghunathan, Kalyani; Kannan, Samyuktha; Quisumbing, Agnes R. |
| Keywords: | International Development, Food and Agricultural Policy Analysis, Rural/Community Development |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274211&r=hme |
| By: | Anne Musson (ESSCA - Ecole Supérieure des Sciences Commerciales d'Angers - ESSCA); Damien Rousselière (SMART - Structures et Marché Agricoles, Ressources et Territoires - INRA - Institut National de la Recherche Agronomique - AGROCAMPUS OUEST) |
| Abstract: | This article questions the role of producer organisations and cooperatives in agri-environmental practices adoption, illustrated with the case study of the adoption of recycled plastic films by fruit and vegetables producers in the Nantes region. Through an exploratory survey, we show that cooperatives are a lever for spreading environmental innovation. Indeed, experts within cooperatives are sure of the need to adopt such innovations, unlike many producers. We highlight that the existence of this lever is relative to an important variable: trust. |
| Abstract: | Cet article questionne le rôle des organisations de producteurs et des coopératives pour l'adoption de pratiques agroenvironnementales, en s'appuyant sur un cas concret d'adoption de films plastiques recyclés par des maraîchers dans la région nantaise. À travers une enquête exploratoire, nous démontrons que les coopératives constituent un levier en matière de diffusion de l'innovation environnementale. En effet, les experts au sein des coopératives sont convaincus de la nécessité d'adopter de telles innovations, contrairement à nombre de maraîchers. Nous mettons en évidence que l'existence de ce levier est soumis à une variable importante : la confiance. |
| Keywords: | cooperatives,governance,ecological transition,textual analysis,innovation.,gouvernance,transition écologique,analyse textuelle,coopérative |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01850520&r=hme |
| By: | Sophie Clot; Gilles Grolleau; Lisette Ibanez |
| Abstract: | Rather than just examining moral licensing and cleansing at an aggregate level, we investigate experimentally the moral dynamics at an individual level. We also propose a formal definition of moral consistency or inconsistency (i.e., moral licensing and/or moral cleansing). We found that half our sample present inconsistent pro-environmental behaviour, independently of the way behavior is elicited (positive or negative framing). Men seem to behave more consistently over time, but when they compensate, they license (respectively cleanse) in a higher (respectively lesser) extent than women. We suggest that policies can improve their performances by avoiding a ‘one size fits all approach’ and take into account this heterogeneity of moral dynamics.. |
| Keywords: | cleansing, dictator game, licensing, moral in(consistency), taking game |
| JEL: | C91 D03 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:lam:wpceem:18-17&r=hme |
| By: | Matej Kuc (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic) |
| Abstract: | This paper investigates the size–efficiency relation of European cooperative banks during the 2006-2015 period. We employ the Stochastic Frontier Analysis in order to obtain inefficiency estimates and its determinants on the set of 183 cooperative banks from 12 European countries. This work extends the existing literature by focusing on shape of size-efficiency relationship and examining also the post-crisis period after the fall of Lehman Brothers in 2008. Our results show that smaller European cooperative banks are significantly more cost efficient than their bigger peers and that the size-efficiency relation is linear. Interestingly, inefficiency remained roughly stable during the whole observation period without any substantial changes, not even on sub-samples of individual countries. These results imply that no significant consolidation of European cooperative banks can be expected in the near future. We conclude that for cooperatives, it is more efficient to remain small in size rather than to expand. From a policy perspective, we recommend regulators to reflect special nature of cooperative banks and allow them to operate at a small scale enabling their efficiency. As a result, we believe that one-size-fits-all regulation is harmful for efficient operations of cooperative banks in Europe. |
| Keywords: | cooperative banking, efficiency, EU, Stochastic Frontier Analysis |
| JEL: | D24 D61 E23 G21 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_21&r=hme |
| By: | Peralta, Alexandra; Genova, Christian A.; Umberger, Wendy J. |
| Keywords: | International Development, Rural/Community Development, Behavioral & Institutional Economics |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274213&r=hme |
| By: | Ma, Meilin; Saitone, Tina L.; Volpe, Richard J.; Sexton, Richard J.; Saksena, Michelle |
| Keywords: | Industrial Org./Supply Chain Management, Food and Agricultural Policy Analysis, Demand and Price Analysis |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274205&r=hme |