nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2023‒05‒08
24 papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Capital as ‘fetish value’ has no ‘true value’: Beyond the Divide between the Analytical and the Normative By Hosseini, S A Hamed
  2. Discrimination in the Formation of Academic Networks: A Field Experiment on #EconTwitter By Nicolás Ajzenman; Bruno Ferman; Sant’Anna Pedro C.
  3. A Progressive Critique of the Law and Political Economy Movement By Woodcock, Ramsi
  4. The political economy of AI: Towards democratic control of the means of prediction By Kasy, Maximilian
  5. Comment – Did the COVID-19 Crisis Contribute to a Change in the Gender-Based Division of Work within Families? By Hélène Couprie
  6. Ingreso básico: elementos conceptuales y sobre su debate By De Wispelaere, Jurgen; Farías, Consuelo
  7. Working Conditions in Platform Work: Testing Digital Platform Workers’ Rights on Platform Cooperatives By Cano, Melissa Renau; Espelt, Ricard; Morell, Mayo Fuster
  8. Make ethical marketing happen: a performative approach to managers’ identity work in the food industry By Laetitia Condamin; Valérie-Inès de La Ville
  9. Green Practices and Customer Evaluations of the Service Experience: The Moderating Roles of External Environmental Factors and Firm Characteristics By Wei Jiang; Liwen Wang; Kevin Zhou
  10. Is inflation caused by conflict? By Nicolás Cachanosky; Emilio Ocampo
  11. Variational rationality: Finding the inequations of motion of a person seeking to meet his needs By Antoine Soubeyran
  12. Social Token Economics for GAU Coin By Nishant Krishna; Garg, Amit; Gaurav Kumar Kedia; Aprajita Mishra
  13. The Causes of Deindustrialization: a conceptual discussion By Alexandre Ricardo de Aragão Batista; Guilherme Grandi
  14. What If She Earns More? Gender Norms, Income Inequality, and the Division of Housework By Magda, Iga; Cukrowska-Torzewska, Ewa; Palczyńska, Marta
  15. Chinese overseas development funds: An assessment of their sustainability approaches By Mathias Lund Larsen; Tancrède Voituriez; Christoph Nedopil
  16. Towards social network metrics for supply network circularity By Leonardo Marques; Marina Dastre Manzanares
  17. The role of mobile money innovations in transforming unemployed women to self-employed women in sub-Saharan Africa By Simplice A. Asongu; Sara le Roux
  18. Related or unrelated diversification: What is smart specialization? By Nomaler, Önder; Verspagen, Bart
  19. Why is China Building a New System for Mobilizing Resources Nationwide for Scientific and Technological Innovation? A comparative study of the Chinese system and the EU system of scientific and technological innovation (Japanese) By MENG Jianjun; PAN Motao
  20. Cooperation, Fairness, and Rational Altruism in the Making of the Modern Living Standards. The Case of Maresme (1853-2022) By Jose Luis Martinez-Gonzalez
  21. Mapping job complexity and skills into wages By Sabrina Aufiero; Giordano De Marzo; Angelica Sbardella; Andrea Zaccaria
  22. China’s Augmented National Innovation System (ANIS) and the Future: A Nonlinear Complex Systems Model with Application to Semiconductors and AI By Khan, Haider
  23. Mapping Islamic Fintech Research: A Bibliometric Analysis By Fajri, Mohammad Zen Nasrudin; bin Lahuri, Setiawan; Umam, Khoirul
  24. Complexity and Time By Benjamin Enke; Thomas Graeber; Ryan Oprea

  1. By: Hosseini, S A Hamed (The University of Newcastle)
    Abstract: This paper argues that a normative frame of reference is necessary to redefine the notion of value from a more-than-human societal perspective, differentiating between ‘fetish value’ and ‘true value.’ The former is a product of capital, while the latter is capital's prey but also its antidote. The paper emphasizes the importance of a normative frame of reference that considers the economic, ethical, and political dimensions of value production, and calls for a shift in focus from a purely analytical understanding of capitalism as a social and economic system to a more integrated (analytical-normative) approach. This approach would require a more nuanced understanding of how value is created and distributed, and how it impacts different social groups and the environment. The paper argues that this new approach would enable us to imagine alternative economic systems that prioritize social and environmental well-being over profit maximization and shift the focus from merely challenging existing power relations and economic structures to creating alternative forms of value creation and exchange based on normative principles of social justice and ecological sustainability. The paper highlights the importance of perceiving capital as the product of the perversion of commons that are vital for the creation of true value.
    Date: 2022–06–05
  2. By: Nicolás Ajzenman (McGill University); Bruno Ferman (São Paulo School of Economics - FGV); Sant’Anna Pedro C. (São Paulo School of Economics - FGV)
    Abstract: This paper assesses the results of an experiment designed to identify discrimination in users’ following behavior on Twitter. Specifically, we created fictitious bot accounts that resembled humans and claimed to be PhD students in economics. The accounts differed in three characteristics: gender (male or female), race (Black or White), and university affiliation (top- or lower-ranked). The bot accounts randomly followed Twitter users who form part of the #EconTwitter academic community. We measured how many follow-backs each account obtained after a given period. Twitter users from this community were 12% more likely to follow accounts of White students compared to those of Black students; 21% more likely to follow accounts of students from top-ranked, prestigious universities compared to accounts of lower-ranked institutions; and 25% more likely to follow female compared to male students. The racial gap persisted even among students from top-ranked institutions, suggesting that Twitter users racially discriminate even in the presence of a signal that could be interpreted as indicative of high academic potential. Notably, we find that Black male students from top-ranked universities receive no more follow-backs than White male students from relatively lower-ranked institutions.
    Keywords: Discrimination; Economics Profession; Gender; Race; Social Media
    JEL: J15 J16 A11 C93 I23
    Date: 2023–04
  3. By: Woodcock, Ramsi
    Abstract: The emerging law and political economy movement (LPE) in the United States is characterized by an anti-economism that has prevented it from drawing upon a rich tradition of left-wing law and economic scholarship to achieve progressive goals. That tradition began with the first law and economics movement a century ago. It rejected the division of wealth implied by competitive markets. And it showed that neoclassical economics supports the redistribution of wealth in either of two basic ways. One is to reallocate endowments, broadly defined to include all aspects of value that are influenced by legal rules. The other is to manipulate the prices at which inframarginal buyers and sellers transact. The first law and economics movement focused on price manipulation and its alter ego, taxation. The critical legal studies movement that eventually succeeded the first law and economics movement focused on endowments. It sought to redistribute them by changing background rules of private law. In rejecting neoclassical economics as enemy propaganda, LPE has been unable to make progress along either of these two policy dimensions. The movement has treated as new the now century-old proposition that endowments influence market outcomes—in other words, that law determines the market. The movement seems unaware that conservative law and economics long ago accepted this proposition and parried by arguing that the market also determines the law. LPE has also constituted itself around the vague concept of “concentrations of economic power” and placed antitrust at the center of its policy agenda. That is a poor choice because antitrust generates the distribution of wealth that prevails in competitive markets, which is precisely the outcome that progressives have been trying for a century to avoid.
    Date: 2023–03–31
  4. By: Kasy, Maximilian
    Abstract: This chapter discusses the regulation of artificial intelligence (AI) from the vantage point of political economy. By "political economy" I mean a perspective which emphasizes that there are different people and actors in society who have divergent interests and unequal access to resources and power. By "artificial intelligence" I mean the construction of autonomous systems that maximize some notion of reward. The construction of such systems typically draws on the tools of machine learning and optimization. AI and machine learning are used in an ever wider array of socially consequential settings. This includes labor markets, education, criminal justice, health, banking, housing, as well as the curation of information by search engines, social networks, and recommender systems. There is a need for public debates about desirable directions of technical innovation, the use of technologies, and constraints to be imposed on technologies. In this chapter, I review some frameworks to help structure such debates. The discussion in this chapter is opinionated and based on the following premises: AI concerns the construction of systems which maximize a measurable objective (reward). Such systems take data as an input, and produce chosen actions as an output. Maximization of a singular objective by autonomous systems is taking place in a social world where different individuals have divergent objectives. These divergent objectives might stand in conflict. Evaluated in terms of these divergent objectives, the actions and policies chosen by AI systems (almost) always generate winners and losers. Going from individual-level assessments of gains and losses to society-level assessments requires aggregation, which trades off gains and losses across individuals. In order to normatively evaluate AI, as well as proposed regulations, we need to explicitly assess the resulting individual gains and losses, and explicitly aggregate these gains and losses across individuals. The social issues raised by AI, including questions of fairness, privacy, value alignment, accountability, and automation, can only be resolved through democratic control of algorithm objectives, and of the means to obtain them - data and computational infrastructure. Democratic control requires public debate and binding collective decision-making, at many different levels of society. My discussion draws on concepts and references from machine learning, economics, and social choice theory. I touch on several debates regarding the ethics and social impact of artificial intelligence, without any pretension of doing justice to the vast and growing literature on these topics; instead my goal is to give an internally coherent and principled account.
    Date: 2023–04
  5. By: Hélène Couprie (LEST - Laboratoire d'Economie et de Sociologie du Travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique)
    Abstract: This commentary puts into perspective two of the articles in this issue, which analyse the impact of the COVID‑19 crisis on the allocation of time within families in France: one is written by Ariane Pailhé, Anne Solaz and Lionel Wilner and the other written by Hugues Champeaux and Francesca Marchetta. Both reveal that family arrangements appeared generally flexible, since time use changed significantly in the context of the crisis, leading to men becoming much more involved in household chores and parenting in particular. However, far from being unprecedented, this flexibility is compatible with a traditional division of roles according to gender. The changes observed may result from a model in which the man plays the role of a secondary worker in domestic production, who can be mobilised in the event of the unavailability of the primary worker, the woman. Decisions made by families in France are still anchored to gender norms; not only does this constitute a waste of resources, it also generates temporal inequalities that may manifest as intra‑family conflicts.
    Keywords: Domestic production, parental time, intra‑household decision‑making
    Date: 2022–12–30
  6. By: De Wispelaere, Jurgen; Farías, Consuelo
    Date: 2023–03–28
  7. By: Cano, Melissa Renau; Espelt, Ricard; Morell, Mayo Fuster
    Abstract: The emergence of platform work has provided new opportunities for job creation, yet it also poses numerous challenges, thereby placing the topic at the centre of the policy debate. At the same time, discussion of the platform economy usually fails to acknowledge the coexistence of different platform models and their diverse socioeconomic impact with regard to the SDGs and the European Pillar of Social Rights (EPSR). This paper aims to contribute to the debate on regulating platform work by testing the ‘Charter of digital workers’ rights’ arising from the Platform Labour in Urban Spaces (PLUS) European project, in three platform cooperatives:, SMart, and Katuma. The empirical analysis and testing are based on qualitative surveys, co-creation sessions and interviews. The analysis could prove useful for further EU policy, national transposition of EU legislation and potential legislation worldwide. The results show the importance of providing a clear-cut definition of platform work, as well as considering different platform models. More specifically, the paper reflects on the definition and fair scheduling of working time (total amount of working hours, scheduling and disconnection), fair and decent remuneration, the right to information on contractual conditions and the right to transparency in algorithmic systems, and training rights.
    Date: 2023–04–02
  8. By: Laetitia Condamin (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie); Valérie-Inès de La Ville (Axe 1 (2022-2027) : "Vulnérabilités et risques" (MSHS Poitiers) - MSHS - Maison des sciences de l'homme et de la société de Poitiers - Université de Poitiers - CNRS - Centre National de la Recherche Scientifique, CEREGE - Centre de Recherche en Gestion - IAE Poitiers - Institut d'Administration des Entreprises (IAE) - Poitiers - Université de Poitiers - Université de Poitiers - ULR - La Rochelle Université - Excelia Group | La Rochelle Business School)
    Abstract: Although it claims a growing involvement in sustainable development, the marketing profession suffers from a negative image because it is accused of stimulating overconsumption and greenwashing. In order to analyze how marketing managers deal with these ethical tensions in their identity work, this article mobilizes theories of performativity. The aim is to understand how managers' discourses on the marketing profession shape their practices and their processes of subjectivation. Based on 15 in-depth interviews, this work identifies five registers of performativity through which marketing managers discursively construct their professional identities: i) reflexive realist, ii) reflexive destabilized, iii) reflexive detached, iv) voluntarist defensive and v) conquering utilitarian. This article shifts the literature on ethics in marketing from positive (what marketers do) and normative (what marketers should do) approaches to a performative approach (how marketers construct their profession). This research highlights that the relationship between discourse and practice is not antagonistic in nature, but must be understood as mutually constitutive, which opens up a reflection on how to bring about ethical marketing within organizations.
    Abstract: Bien qu'elle revendique une participation croissante au développement durable, la profession marketing souffre d'une image négative parce qu'elle est accusée de stimuler la surconsommation et le greenwashing. Afin d'analyser comment les managers marketing font face à ces tensions éthiques dans leur travail identitaire, cet article mobilise les théories de la performativité. Il s'agit de comprendre comment les discours des managers sur la profession marketing façonnent leurs pratiques et leurs processus de subjectivation. Fondé sur 15 entretiens en profondeur, ce travail identifie cinq registres de performativité par lesquels les managers-marketing construisent discursivement leurs identités professionnelles : i) réflexif réaliste, ii) réflexif déstabilisé, iii) réflexif détaché, iv) volontariste défensif et v) conquérant utilitariste. Cet article opère un déplacement de la littérature sur l'éthique en marketing des approches positives (ce que font les marketeurs) et normatives (ce que devraient faire les marketeurs) vers une approche performative (comment les marketeurs construisent leur profession). Cette recherche souligne que la relation entre discours et pratiques n'est pas de nature antagoniste, mais doit être comprise comme mutuellement constitutive, ce qui ouvre une réflexion sur les manières de faire advenir un marketing éthique au sein des organisations.
    Keywords: Identity work, Professionalization, Ethics, Performativity theories, Managers marketing, Travail identitaire, Profession, Ethique, Performativité
    Date: 2023
  9. By: Wei Jiang (Xiamen University); Liwen Wang (Shenzhen Audencia Business School, Shenzhen University, SAFTI - Shenzhen Audencia Financial Technology Institute); Kevin Zhou (HKU - The University of Hong Kong)
    Abstract: Given that services differ from goods in terms of intangibility, heterogeneity, and inseparability, customers may evaluate green services differently from how they evaluate green goods. Previous research has investigated customers' perceptions and purchase decisions regarding green products. However, limited attention has been paid to the impact of green practices on customer evaluations of the service experience as well as important contingencies that bear on this relationship. Drawing on stakeholder theory, our study examines the impact of green practices on customer evaluations and further considers the influences of environmentaland firm-level contingencies. We test our model with a multi-source dataset in the Chinese hotel industry. The findings indicate that green practices improve customer evaluations of the service experience. This positive impact is, however, weaker in external environments characterized by high internet penetration and market complexity but is stronger for hotels with innovative services and for business hotels. Our findings provide novel insights into the environmental ethics and stakeholder management literatures by revealing the role of green practices in promoting positive service evaluations as well as the contingent influences of external environments and internal firm-level characteristics.
    Keywords: Green practices customer evaluations internet penetration market complexity service innovativeness hotel industry, Green practices, customer evaluations, internet penetration, market complexity, service innovativeness, hotel industry
    Date: 2022–01–17
  10. By: Nicolás Cachanosky; Emilio Ocampo
    Abstract: We offer a critique of a paper recently published Lorenzoni and Werning (2023) that seeks to make an original contribution to the hypothesis that inflation is primarily caused by conflict and reconcile the Post-Keynesian and New-Keynesian traditions. L&W’s paper has two sections. In the first they develop a barter model that allows them to prove that inflation can occur with conflict and without money. In the second they incorporate the conflict hypothesis into a broader framework compatible with New Keynesian models. We question the logical consistency and empirical validity of the barter model and the testability of the model with staggered pricing assumptions. We also trace the ideological roots of inflation as conflict hypothesis and highlight the policy implications that must be logically derived from it.
    Keywords: conflict, inflation
    JEL: E31
    Date: 2023–04
  11. By: Antoine Soubeyran (Aix-Marseille Univ, CNRS, AMSE, Marseille, France.)
    Abstract: As physics provides the equations of motion of a body, this paper formulates, for the first time, at the conceptual and mathematical levels, the inequations of motion of an individual seeking to meet his needs and quasi needs in an adaptive (not myopic) way. Successful (failed) dynamics perform a succession of moves, which are, at once, satisficing and worthwhile (free from too many sacrifices), or not. They approach or reach desires (fall in traps). They balance the desired speed of approach to a desired end (a distal promotion goal) with the size of the required immediate sacrifices to go fast (a proximal prevention goal). Therefore, each period, need/quasi need satisfaction success requires enough self control to be able to make, in the long run, sufficient progress in need/quasi need satisfaction without enduring, in the short run, too big sacrifices. A simple example (lose or gain weight) shows that the size of successful moves must be not too small and not too long. A second paper will solve this problem, using variational principles and inexact optimizing algorithms in mathematics. This strong multidisciplinary perspective refers to a recent mathematical model to psychology: the variational rationality theory of human life stay and change dynamics.
    Keywords: need satisfaction, speed of progress, sacrifices, dynamical system, variational rationality
    Date: 2023–04
  12. By: Nishant Krishna; Garg, Amit; Gaurav Kumar Kedia; Aprajita Mishra
    Abstract: This paper discusses the Token Economics around the GAU Coin. All the aspects of Token Economics, including rewards system, incentivisation, ways to increase adoption, methods to measure social impact, strategies to bring the developer community into the ecosystem, commodity flows, and many others are discussed. Various GAU Coin Ecosystem Partners and Enablers and how they interact with the ecosystem are also identified. Later, GAU NFT for the participants of the GAU Coin network can also be thought of, along with creating the entire network of artists and infrastructure around it. GAU Coin is a Social Token and is not a Cryptocurrency. The GAU Coin represents the digital form of what a person owns as part of the GAU ecosystem and brings Social Credibility.
    Date: 2023–04–01
  13. By: Alexandre Ricardo de Aragão Batista; Guilherme Grandi
    Abstract: The paper presents the conceptual variety around the term deindustrialization. Then, based on the literature and the debate raised, it presents its causes which, in this article, include the real exchange rate, trade liberalization, the impact of Chinese trade, the services sector, labor productivity, investments, effective demand, taxes, and some extra-economic impacts. In addition to exposing our critical view on the subject, we observe that there is great heterogeneity in the concept of deindustrialization and its causes, which does not lead the debate to a consensus.
    Keywords: Deindustrialization; Industry; Dutch Disease
    JEL: F10 L60 O14
    Date: 2023–04–25
  14. By: Magda, Iga (Warsaw School of Economics); Cukrowska-Torzewska, Ewa (University of Warsaw); Palczyńska, Marta (Institute for Structural Research (IBS))
    Abstract: Using data from "Generation and Gender Survey" for Poland, we study the relationship between women's relative income within the household, as measured by the female share of total household income, and women's involvement in housework. We find that households in which the woman contributes more to the total household income are more likely to share housework equally. We also find that individual gender norms matter both for women's involvement in unpaid work at home and for the observed link between the female share of income and inequality between the partners in the division of housework. Women from less traditional households are found to be more likely to share housework equally. However, this negative relationship between the female share of household income and female involvement in housework is not observed among more traditional couples.
    Keywords: household income, income inequality, housework, gender norms
    JEL: D10 D13 D31 J12 J16 J22
    Date: 2023–03
  15. By: Mathias Lund Larsen (CBS - Copenhagen Business School [Copenhagen]); Tancrède Voituriez (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris, Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); Christoph Nedopil (UCAS - University of Chinese Academy of Sciences [Beijing])
    Abstract: A growing number of emerging economies receive significant parts of their overseas finance and investment from Chinese state-owned or state-linked institutions. While academic research has focused on how Chinese policy and state-owned banks approach sustainable development issues, Chinese sovereign-backed overseas development funds are a critical yet overlooked component. This paper addresses this knowledge gap by providing the first comprehensive overview of such funds regarding their scope, activities and capitalization, as well as by assessing the funds' policy approach to sustainability. Qualitative and quantitative data are collected from databases, funds' websites, newspaper articles and public statements in both Chinese and English to identify common features between funds and to analyse their sustainability policies in comparison with global best practices. The paper specifically analyses the funds' sustainability approaches rather than impact due to a lack of comprehensive data on the funds' investments. First, the paper finds that given their number, announced capital size of US$213 billion, geographic scope and sectorial focus, including on high-emissions projects such as mining, energy and heavy industry, the funds are influential players in global development finance. Second, regarding the funds' approaches to sustainability, the paper finds that the funds lack transparency about their policies and practices,
    Keywords: investment funds, china, Sustainability
    Date: 2023–03–29
  16. By: Leonardo Marques (Audencia Business School); Marina Dastre Manzanares (UFRJ - Universidade Federal do Rio de Janeiro)
    Abstract: Purpose Despite the systemic nature of circular economy (CE), theorisation that draws from a supply network perspective is only incipient. Moreover, the operations and supply chain management (OSCM) field has engaged in little dialogue with circularity. This study explores social network analysis (SNA) to depict how the shift from linear to circular not only leads to higher rates of resource economy, repair and recycle but also reshapes governance dynamics and network structure of supply networks. Design/methodology/approach The study departs from a systematic review of the literature and draws from core concepts in OSCM, CE and SNA to offer theoretical propositions that articulate how social network metrics can depict supply network circularity. The framework is illustrated with examples from fashion and electronics industries. Findings Four theoretical propositions enlighten how betweenness centrality, eigenvector centrality and network density can explain the shift from linear to circular supply networks across the three CE strategies of narrowing, slowing and closing. Originality/value The combination of biomimicry, CE, the push–pull dichotomy and social network metrics offer a theory-driven framework for supply network circularity.
    Keywords: Circularity, Circular economy, Supply network, Governance, Social network analysis, Theory development, Circular economy supply network governance social network analysis theory development, supply network, governance, social network analysis, theory development
    Date: 2022–08–18
  17. By: Simplice A. Asongu (Yaounde, Cameroon); Sara le Roux (Oxford Brookes University, Oxford, UK)
    Abstract: The study examines how mobile money innovations transform unemployed women to self-employed women. The empirical evidence is based on interactive quantile regressions focusing on data in 44 countries from sub-Saharan Africa for the period 2004 to 2018. The hypothesis that mobile money innovations transform female unemployment to female self-employment is tested. Eight mobile money innovation dynamics presented in four categories are employed. Three main common findings are apparent from interactions between female unemployment, eight mobile money innovation dynamics and female self-employment: (i) the investigated hypothesis is valid exclusively at the top quantiles of female self-employment; (ii) the net effects are consistently negative and (iii) the corresponding conditional or interactive effects upon which the net effects are based are consistently positive. This is an indication that critical masses at which money innovation innovations have an overall positive net effect on female self-employment are apparent. The corresponding mobile money innovation policy thresholds at which the net effects on female self-employment change from negative to positive are provided. Policy implications are discussed.
    Keywords: Mobile phones; financial inclusion; women; inequality; sub-Saharan Africa
    JEL: G20 O40 I10 I20 I32
    Date: 2023–01
  18. By: Nomaler, Önder (Mt Economic Research Inst on Innov/Techn); Verspagen, Bart (RS: GSBE MGSoG, RS: GSBE other - not theme-related research, Mt Economic Research Inst on Innov/Techn, RS: UNU-MERIT Theme 1)
    Abstract: In this paper, we investigate the nature of the density metric, which is employed in the literature on smart specialization and the product space. We find that although density is supposed to capture relatedness between a country’s current specialization pattern and potential products that it may diversify into, density is also correlated strongly to the level of diversification of the country, and (less strongly) to the ubiquity of the product. Together, diversity and ubiquity capture 93% of the variance of density. We split density into a part that corresponds to related variety, and a part that does not (i.e., unrelated variety). In regressions for predicting gain or loss of specialization, both these parts are significant. The relative influence of related variety increases with the level of diversification of the country: only countries that are already diversified show a strong influence of related variety. In our empirical analysis, we put equal emphasis on gains and losses of specialization. Our data show that the specializations that were lost by a country often represented higher product complexity than the specializations that were gained over the same period. This suggests that “smart” specialization should be aimed at preserving (some) existing specializations in addition to gaining new ones. Our regressions indicate that the relative roles of related and unrelated variety for explaining loss of specialization are similar to the case of specialization gains. Finally, we also show that unrelated variety is also important in indicators that are derived from density, such as the Economic Complexity Outlook Index.
    JEL: F14 F63 O11
    Date: 2023–03–27
  19. By: MENG Jianjun; PAN Motao
    Abstract: In recent years, the government of China (GOC) has carried out the institutional design of scientific and technological innovation in line with the concept of a new system for mobilizing resources nationwide. From the perspective of a comparative analysis of the scientific and technological innovation system of the European Union–"open strategic autonomy"—this paper aims to explain the inevitability and rationality of the GOC's choice of a new system aimed at the nationwide mobilization of resources and form a more objective understanding of the deep logic behind the system design. Officially defined as a new system for mobilizing resources nationwide by GOC, it is “a new system that systematically concentrates national power and resources within key national undertakings†. The practical attribute of solving problems is far higher than the political attribute of surpassing strategy in science and technology. In contrast, the EU's “open strategic autonomy†is the current development strategy which is the product of risk active response in the era of Sino-US competition and cooperation. The specific scientific and technological innovation policies are subject to this strategic system and emphasize the dependence on the openness of internal countries to maintain independence in Sino-US competition and cooperation. From the perspective of system design, this paper compares China's new system for mobilizing resources nationwide and the EU's "open strategic autonomy". Through the comparison of the background, organizational form, talent, and capital allocation of China and the EU systems, we will briefly evaluate the effects and point out any problems that the two systems contain.
    Date: 2023–04
  20. By: Jose Luis Martinez-Gonzalez (Universitat de Barcelona – Universitat Autonoma de Barcelona, Barcelona, Spain)
    Abstract: Can attitudes and beliefs within each community, as well as their social capital, explain some of the differences in their development? Conducting a macro study in the Maresme region using data from the Contribution Territorial, which includes 5, 412 agricultural farms, 2, 537 owners, and 13 municipalities (1853-1864), we find levels of rational altruism approaching 50%, confirming recent evidence from experimental economics studies. A particularly interesting finding is the correlation between the most altruistic municipalities 160 years ago and those today with higher levels of human capital and per capita family income, as well as the influence of certain study variables on the prosocial behavior of local oligarchies. This result suggests that the attitudes, beliefs, values, and informal rural rules of the past are factors that complement the quality of national institutions today. Economic history not only helps to explain the origins and different trajectories of local economic development, but, more importantly, informs us that investing in regional policies that promote community spirit is a worthwhile endeavor for the future.
    Keywords: Altruism, peasant communities, human capital, informal institutions, development, social change, collective action
    JEL: B52 D03 D64 N33 O43
    Date: 2023–04
  21. By: Sabrina Aufiero; Giordano De Marzo; Angelica Sbardella; Andrea Zaccaria
    Abstract: We use algorithmic and network-based tools to build and analyze the bipartite network connecting jobs with the skills they require. We quantify and represent the relatedness between jobs and skills by using statistically validated networks. Using the fitness and complexity algorithm, we compute a skill-based complexity of jobs. This quantity is positively correlated with the average salary, abstraction, and non-routinarity level of jobs. Furthermore, coherent jobs - defined as the ones requiring closely related skills - have, on average, lower wages. We find that salaries may not always reflect the intrinsic value of a job, but rather other wage-setting dynamics that may not be directly related to its skill composition. Our results provide valuable information for policymakers, employers, and individuals to better understand the dynamics of the labor market and make informed decisions about their careers.
    Date: 2023–04
  22. By: Khan, Haider
    Abstract: I present a nonlinear complex dynamic systems model of innovation for China within which both efficiency and equity can be addressed. For the fourth industrial revolution(IR4), digital technologies based on semiconductor material foundation and AI are analyzed for China within such a system which can be called an Augmented National innovation system or ANIS. There are at least two dimensions along which China’s NIS can be augmented. One is to include the AI and semiconductor base for high technology for IR4, and the other is to move towards a more egalitarian innovation system in accordance with the goal of creating a harmonious moderately prosperous economy and society. The Chinese ANIS that is being built for the 21st century has important regional and geoeconomic implications for the future.
    Keywords: Keywords: China, 4th industrial revolution, Innovation, AI, semiconductors, Geoeconomics, , ANIS, complex dynamic nonlinear model
    JEL: F50 O3 O53
    Date: 2023–01–15
  23. By: Fajri, Mohammad Zen Nasrudin; bin Lahuri, Setiawan; Umam, Khoirul
    Abstract: FinTech has currently been used by people around the world for the better transactions process. Islamic Finance Industry need to create a proper Islamic FinTech that can meet the Muslim demand. Many researches have been conducted however, they are still limited. Therefore, it is necessary to conduct further studies using comprehensive analysis tool to better develop Islamic FinTech. This study aims to discover bibliographic keywords and research flow in Islamic FinTech studies. Furthermore, it aims to suggest some directions for future researches. The data is collected from Google Scholar database using Publish or Perish, while bibliometric analysis is conducted using VOSviewer. It is revealed that blockchain, bank, application, COVID and intention are the most used keywords in researches. The existing literature is grouped into four discussions, discussions on FinTech in Islamic Finance Industry, the use of blockchain technology, the analysis of behavior of Islamic FinTech users and the model development of Islamic FinTech and its roles in economy. And based on these results, some directions for future research can be resulted. The future research can be done on the measures in addressing issues in implementing FinTech in Islamic Finance Industry, empirical analysis of the implications of successful blockchain implementation, behavioral changes of consumption in Islamic FinTech users and the effect of Islamic FinTech on Islamic Finance growth as well as macroeconomic variables.
    Date: 2022–10–19
  24. By: Benjamin Enke; Thomas Graeber; Ryan Oprea
    Abstract: We provide experimental evidence that core intertemporal choice anomalies – including extreme short-run impatience, structural estimates of present bias, hyperbolicity and transitivity violations – are driven by complexity rather than time or risk preferences. First, all anomalies also arise in structurally similar atemporal decision problems involving valuation of iteratively discounted (but immediately paid) rewards. These computational errors are strongly predictive of intertemporal decisions. Second, intertemporal choice anomalies are highly correlated with indices of complexity responses including cognitive uncertainty and choice inconsistency. We show that model misspecification resulting from ignoring behavioral responses to complexity severely inflates structural estimates of present bias.
    Keywords: complexity, hyperbolic discounting, present bias, bounded rationality, noise, cognitive uncertainty
    JEL: C91 D91 G00
    Date: 2023

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