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on Heterodox Microeconomics |
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Issue of 2024‒02‒12
twenty papers chosen by Carlo D’Ippoliti, Università degli Studi di Roma “La Sapienza” |
| By: | Andrea Roventini |
| Abstract: | This work presents the evolutionary growth theory, which studies the drivers and patterns of technological change and production together with the (imperfect) mechanisms of coordination among a multitude of firms. This requires to studies economies as complex evolving systems, i.e. as ecologies populated by heterogenous agents whose out-of-equilibrium local market interactions lead to the emergence of some collective order at higher level of aggregation, while the system continuously evolves. Accordingly a multi-country multi-industry agent-based model is introduced, where the restless competition of firms in international markets lead to the emergence of growth and persistent income divergence among countries. Moreover, each economy experiences a structural transformation of its productive structure during the development process. Such dynamics results from firm-level virtuous (or vicious) cycles between knowledge accumulation, trade performances, and growth dynamics. The model also accounts for a rich ensemble of empirical regularities at macro, meso and micro levels of aggregation. Finally, the model is employed to assess different strategies that laggard countries can adopt to catch up with leaders. Results show that in absence of government interventions, laggards will continue to fall behind. On the contrary, industrial policies can successfully drive international convergence among countries. |
| Keywords: | Endogenous growth, structural change, technology-gaps, industrial policies, evolutionary economics, agent-based models |
| Date: | 2024–01–30 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2024/02&r=hme |
| By: | Paolo Pellizzari (Department of Economics, Ca’ Foscari University of Venice) |
| Abstract: | Can traders in a financial market learn whether to be informed and which information to use in their demand for risky assets? We describe in this paper an agent-based model where heterogeneous traders seek short-term profits and differ in their choices to use or discard some signals. In the model, a vector of fresh news/signals is available at every period and some (but not all) the signals affect the stochastic payoff of the stock. Under an evolutionary dynamics favouring higher myopic returns we find that, in equilibrium, traders mostly end up in either discarding all signals or being (perfectly) informed using all the relevant signals (paying the related costs). Moreover, the rate of use of information strongly depends on the "complexity" of the market: an excessively large abundance of signals to be screened or a high volatility of the market, result in large shares of passive agents who overestimate the market's risk; conversely, low market complexity is associated with a more intense use of information and aggressiveness of informed traders. Evolutionary models and Agent-based models and Information in financial markets |
| Keywords: | financial markets w information, agent-based models, evolutionary game theory, equity premium puzzle |
| JEL: | G17 D83 D91 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2024:03&r=hme |
| By: | Giovanni Dosi; Lucrezia Fanti; Maria Enrica Virgillito |
| Abstract: | The current phase of capitalism has been defined in many alternative ways, ranging from techno-capitalism, turbo-capitalism, unbridled capitalism, unleashed capitalism, managerial capitalism. In this paper we put forward the notion of rentified capitalism defined as a configuration of capitalism based on the progressive rentification of the socio-economic fabric acting via three mechanisms: Appropriation, Exclusion and Commodification. Delving into a classical political economy distinction of rents from a distributive versus a production perspective, we ask the following research questions: are rents simply a form of functional income source or rather a process of redefinition of property rights allowing for unjust resource accumulation? What are the attributes and trends of a rentified capitalism? How can we distinguish realms and spaces under the process of rentification? How can we measure the degree of rentification of an economy? In order to address the latter questions we identify realms and spaces of rentified capitalism (e.g., resource distribution; economic crises; finance and pseudo wealth; finance vs welfare state; housing; IPRs and Big Pharma) distinguishing countries characterised by different social and economic architectures (US, Germany, Italy) as representative of a variety of capitalisms approach. We conclude that economists are in need of a new analytical thinking advancing on the understanding of the causes and consequences of rentified capitalism. |
| Keywords: | Rents, political economy, modern capitalism, accumulation regime, power asymmetry |
| Date: | 2024–01–25 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2024/01&r=hme |
| By: | Chatzinikolaou, Dimos (Democritus University of Thrace, Department of Economics); Vlados, Charis (Democritus University of Thrace, Department of Economics) |
| Abstract: | The globalized socioeconomic system seems to be undergoing a profound crisis and radical structural transformation. This transitional era appears to be leading gradually to a form of a “new globalization, ” which has not been definitively shaped yet. This article aims to establish why this new globalization emerges nowadays. First, it examines the postwar phases of world capitalism (from 1945 onward) based on the “evolutionary structural triptych” that explanatorily unifies different theoretical approaches to conclude that the previous globalization period of 1980-2008 has come full circle. Then, it concludes by presenting a critical overview of different approaches to the new globalization and proposes a novel definition of the phenomenon. Finally, it outlines some points that appear crucial for the advent of the desirable new globalization—towards an innovational and realistic global liberalism. |
| Keywords: | new globalization; postwar world capitalism; socioeconomic development; evolutionary approach; hegemonic stability theory; regulation school; international regime; innovation generations |
| JEL: | B52 F60 P16 |
| Date: | 2023–12–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:duthrp:2023_007&r=hme |
| By: | Mark Setterfield (Department of Economics, New School For Social Research, USA) |
| Abstract: | The Kalecki-Robinson tradition in growth theory is surveyed, focusing on a central theme of this literature: the relationship between distribution and growth. A generic model is used to develop successive variants of the Kalecki-Robinson tradition: the neo- Keynesian (Robinson) model; the Kalecki-Steindl (Kaleckian) model; and the Bhaduri- Marglin model. Selected recent developments that offer new insights into the relationship between distribution and growth are then outlined. |
| Keywords: | Growth, distribution, technical change, Kalecki, Robinson |
| JEL: | E11 E12 O41 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2402&r=hme |
| By: | Rémy Herrera; Zhiming Long (THU - Tsinghua University [Beijing]); Weinan Ding (THU - Tsinghua University [Beijing]) |
| Abstract: | Considering that the rate of profit constitutes a key indicator for the analysis of the evolution of capitalist economies, this chapter proposes to study the case of France from 1896 to 2019, that is, over 124 years in total. From a series of stock of productive capital reconstructed for the occasion, a rate of profit is calculated at the macroeconomic level within a conceptual framework faithful to Marx. Over this period of more than a century, three successive long waves are identified, as parts of a secular trend towards the fall in the French rate of profit. The latter, however, recovered several times during these three sub-periods, but finally reoriented downwards, with fluctuations of an amplitude tending to decrease more and more and a deployment in a decreasing spiral of French capitalism. This long-term downward trend is mainly due to the rise in the organic composition of capital. |
| Keywords: | Rate of profit, long waves, productive capital, organic composition of capital, decomposition of the profit rate, France, Rate of profit long waves productive capital organic composition of capital decomposition of the profit rate France |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04367756&r=hme |
| By: | Luca Zamparelli (Department of Social and Economic Sciences, Sapienza University of Rome, Italy) |
| Abstract: | This paper investigates alternative ways of introducing technological progress in heterodox theories of economic growth. We model technical change as: i) exogenous and costless; ii) a positive externality of capital accumulation, the wage share or the employment rate; iii) endogenous and costly. We implement these formalizations in Classical growth theories, where investments coincide with full capacity savings, and Keynesian theories where capital accumulation is demand constrained. We also distinguish between abundant and inelastic labor market closures. We discuss the outcomes of these models in terms of long-run growth, functional income distribution and employment. |
| Keywords: | Technical change, heterodox growth models, R&D, factor income shares, employment |
| JEL: | D24 E25 D33 O30 O41 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2404&r=hme |
| By: | Codrina Rada (Department of Economics, University of Utah, USA); Ansel Shiavone (Department of Economics, St. John's University, USA); Rudiger von Arnim (Department of Economics, University of Utah, USA) |
| Abstract: | Neo-Goodwinian theory builds on and extends the classical growth cycle (Goodwin, 1967). It facilitates investigation of short run business cycles and long run economic growth in a unified framework. This paper makes two contributions. First, we summarize recent research on a Keynesian distributive cycle in income-capital ratio, employment rate and labor share. This model generates the Goodwin pattern (short run counter-clockwise cycles in activity-labor share planes) with the Goodwin mechanism (profit-led activity and profit squeeze distribution). Further, the natural rate of growth is wage-led through a positive effect of the labor share on labor productivity growth. The connection of short run profit-led cycles and long run wage-led growth allows for a nuanced discussion of relevant constraints and trade-offs. Second, we respond to renewed criticism that the Goodwin pattern is an artefact of pro-cyclical labor productivity. To clarify this debate, we demonstrate that a two-dimensional model in income-capital ratio and labor share with pro-cyclical labor productivity cannot generate the Goodwin pattern, unless it also features a sufficiently strong Goodwin mechanism. Extending the baseline three-dimensional Keynesian distributive cycle with pro-cyclical labor productivity does not alter key conclusions concerning short run profit led cycles and long run wage led growth. |
| Keywords: | Neo-Goodwinian theory, cyclical growth, labor productivity, secular stagnation |
| JEL: | E12 E25 E32 J50 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2403&r=hme |
| By: | Feld, Lars P.; Nientiedt, Daniel |
| Abstract: | Writing in 1951, Friedrich Hayek identified four places where the classical liberal tradition1 had been upheld and developed during the first half of the 20th century. He named London, Vienna, Chicago, and, perhaps surprising to some, the small southern German town of Freiburg (Hayek, 1951/1967). The reason for including Freiburg was that it is the birthplace of ordoliberalism, a branch of classical liberalism that to this day remains relatively unknown outside of Germany. The historical significance of ordoliberalism derives from its central role in redefining classical liberalism, and from its impact on economic policy. Representatives of ordoliberalism were key members of the neoliberal movement of the 1930s and 1940s, participating in the Lippmann Colloquium of 1938 and helping to create the Mont Pèlerin Society after WWII. In terms of economic policy, ordoliberal ideas informed the post-war creation of Germany's free-market system - the Social Market Economy - as well as certain aspects of the architecture of the European Union. (...) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:aluord:281203&r=hme |
| By: | Hosseini, S A Hamed (The University of Newcastle) |
| Abstract: | In the realm of contemporary discourse, grasping the complexities of the pluriverse and its potential to transcend compartmentality has emerged as a central and pressing concern. Rooted in political ontology, pluriversalist perspectives offer a critical lens through which to challenge the deep-seated Western epistemological divisions between humanity and nature. This short preprint, as a complementary piece of a broader scholarly endeavor, explores the intricate concept of compartmentality and its manifestation within the ‘Actually Existing Pluriverse.’ Through a comprehensive analysis of respondents’ prioritization of ‘Ultimate Outcomes, ’ including decolonization, ecological health, public well-being, social justice, and economic democratization, this study reveals the role of decolonization in overcoming compartmentality within progressive initiatives. |
| Date: | 2024–01–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:ycu8a&r=hme |
| By: | Alberto Botta; Danilo Spinola; Giuliano Toshiro Yajima; Gabriel Porcile |
| Abstract: | This paper studies the relationship between financial integration, external debt sustainability, and fiscal policy space in emerging and developing (EDE) countries. We do so by applying Pasinetti’s “geometry of debt sustainability” to EDE countries and analysing how it is shaped by exposure to global financial cycles. Through the lenses of Pasinetti’s theoretical framework, we study whether global finance opens “windows of opportunities” or creates more constraints for EDE countries in offering fiscal support for structural changes, including green structural transformations. This analysis is crucial for tackling the pressing issue of the climate crisis. We suggest EDE countries may face a “gridlock”. Global finance and pressures to keep external debt sustainable make them struggle to maintain vital public investment and enact counter-cyclical fiscal actions. Lack of fiscal space in turn exacerbates technological backwardness, which feeds back in the form of more binding external constraints and tighter “surveillance” by international creditors. We support our theoretical analysis with an econometric study over a sample of 55 countries from 1980-2018. Capital controls and external macroprudential policy emerge as fundamental policies enabling EDE countries to adeptly manoeuvre through debt challenges without falling into the pitfalls of stagnation and enduring technological underdevelopment. |
| Keywords: | Financial globalisation, fiscal space, structural change |
| JEL: | F65 O14 O23 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2401&r=hme |
| By: | Chaimaa EL BOUFFI EL BOUGHLI (LARGESS - Laboratoire de Recherche en Gestion, Economie et Sciences Sociales - FSJESJ - faculté des sciences juridiques, économiques et sociales d'El Jadida); ABDELHAKIM QACHAR (LARGESS - Laboratoire de Recherche en Gestion, Economie et Sciences Sociales - FSJESJ - faculté des sciences juridiques, économiques et sociales d'El Jadida); Rania Derkaoui (LARGESS - Laboratoire de Recherche en Gestion, Economie et Sciences Sociales - FSJESJ - faculté des sciences juridiques, économiques et sociales d'El Jadida) |
| Abstract: | The health and economic crisis caused by Covid-19 is undoubtedly one of the most serious and dramatic crises our globe has experienced to date.This pandemic has disrupted all economies, impacting advanced and developing countries and creating an unstable and uncertain environment.Morocco is no exception as it tries to endure the negative repercussions of the measures taken to limit the harmful effects.It must not be denied that this crisis had positive points such as the acceleration of the digital transformation of organizations moving from a Morocco 1.0 to a Morocco 4.0. Various organizations, including the Social and Solidarity Economy, in particular cooperatives, have tried to adapt to the new context while opting for teleworking to ensure the continuity of their business, for selling and buying online, for e-learning, etc.To answer the following problem: What is the impact of the digital transition on cooperatives in the era of covid-19", we will opt for a conceptual literature where we will try to define the concept of digital transition, as well as that of the social and solidarity economy, more particularly one of its main components "cooperatives" which are the subject of our study, to end up highlighting the benefits and limits of digital on this form of social enterprise |
| Abstract: | La crise sanitaire et économique, due au Covid-19, est sans aucun doute l'une des plus graves et dramatiques crises que notre globe a connues jusqu'à présent. Cette pandémie a bouleversé toutes les économies, impactant les pays avancés et ceux en développement et générant un contexte instable et incertain. Le Maroc ne fait pas l'exception vu qu'il essaye d'endurer les mauvaises répercussions dues aux mesures entreprises pour limiter les effets néfastes. Il ne faut pas nier que cette crise avait des points positifs tels que l'accélération de la transformation digitale des organisations passant d'un Maroc 1.0 à un Maroc 4.0. Différentes organisations, y compris celle de l'Économie sociale et solidaire notamment les coopératives, ont essayé de s'adapter au nouveau contexte tout en optant pour le télétravail pour assurer la continuité de leur activité, pour la vente et l'achat en ligne, pour le e-learning ...etc. Pour qui répondra à la problématique suivante: Quel est l'impact de la transition numérique sur les coopératives à l'ère de covid-19», nous allons opter pour une littérature conceptuelle où nous essayerons de définir le concept de transition numérique, ainsi que celui de l'économie sociale et solidaire plus particulièrement l'une de ses composantes principales «les coopératives» qui sont sujet de notre étude, pour finir par ressortir les bienfaits et les limites du digital sur cette forme d'entreprise sociale. |
| Keywords: | digital transition, digital, covid-19, organization, cooperative. |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04378670&r=hme |
| By: | Chatzinikolaou, Dimos (Democritus University of Thrace, Department of Economics); Vlados, Charis (Democritus University of Thrace, Department of Economics) |
| Abstract: | This chapter investigates the physiological transformation of small firms in a less developed regional business ecosystem facing multiple development problems, barriers, and inadequacies. We present four field surveys we recently conducted in the peripheral Greek region of Eastern Macedonia–Thrace, on a sample of 230 small entrepreneurs, exploring their perception of the following conceptual triangles: (a) Crisis–Innovation–Change Management, (b) Strategy–Technology–Management, and (c) Human Resource Management–Education and Training–Innovation. We conclude that the sample firms exhibit symptoms of monad-centric business structuring and perceptual-functional weaknesses, which are due to their “traditional” physiology. These comparative weaknesses seem structurally and bi-directionally linked to the low competitiveness of this regional socioeconomic system. |
| Keywords: | entrepreneurship; less-developed regions; evolutionary economics; biological metaphors; evolutionary view of the firm; Stra.Tech.Man (Strategy–Technology–Management); evolutionary organisational physiology; business monad-centredness; business massiveness; business flexibility; Greek entrepreneurial |
| JEL: | B52 L10 |
| Date: | 2023–12–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:duthrp:2023_005&r=hme |
| By: | Dima Younès (EM - emlyon business school) |
| Abstract: | "This paper examines how neoliberalism impedes the emergence of alternative organizations. Via a mix of (auto-)ethnography and memory work, it explains how neoliberal values replacing more traditional ones eroded the collective capacity to bring solutions to scarcity problems in today's Lebanon. It points to the stigmatization of the role of mothers, who once were the "guardians" of organizing around commons, and the alternative values necessary for that. It shows how neoliberal values undermined relationships and decisions based on affect, and promoted individualization and market-based expertise, thereby destroying the authority of traditional motherhood. Also, neoliberalism introduced the importance of branding and accumulation in a manner that made sharing very difficult. These changes in values prevented people who embraced neoliberal culture from benefiting from commoning practices in a context of scarcity. This happens at a time where scholars predict the end of the age of abundance and the importance of commoning as a social arrangement capable of ensuring overall well-being. The paper concludes with a discussion of the necessity of de-stigmatizing values that are not compatible with the neoliberal ideology for the sake of leaving open the possibility of organizing differently and adapting to a changing environment." |
| Keywords: | commons, motherhood, neoliberalism, Scarcity, stigmatization |
| Date: | 2024–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325772&r=hme |
| By: | Arthur Boutiab (Sciences Po, Lyon, France) |
| Abstract: | Circular Economy (CE) has become increasingly influential in policy-making for the past fifteen years. Governments and institutions have seen CE as a way to achieve high levels of sustainability while maintaining GDP growth. This paper describes how waste generation and Raw materials use were modeled in the Environmentally-Extended Input-Output tables of the Eurogreen model. It also explains how Material Flow Analysis (MFA) was used to model Residual Waste Management, Closing Supply-Chains, Waste Efficiency and Material Efficiency. Through the design of several policy scenarios (Business-As-Usual, Techno-Efficiency, Cradle-to-Cradle, Circular Growth, Optimistic Circular Growth and Circular Degrowth), this paper also assesses the efficacy of different Circular Economy policies in delivering a decrease in Raw Materials Extraction and in CO2 emissions in France from 2014 to 2050. |
| Keywords: | Circular Economy, Raw Materials, Input-Output Analysis, Waste Treatment, Recycling, Ecological Economics |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:0124&r=hme |
| By: | Baum, Leonard; Bryson, Joanna J. (Hertie School) |
| Abstract: | Growing global concern about the problems associated with concentrated market power in the digital economy is leading to a renewed interest in competition policy. Since the late 2010s, China’s government in particular has squarely confronted the problems of its own ‘Big Tech’ with a new competition regime for digital markets. Outcomes represent a unique learning opportunity for Western academics, competition authorities and lawmakers alike, which has so far been underutilized. However, given unreliable official figures, a new methodology is needed to assess the competitive dynamics of China’s digital economy. This article introduces a market capitalization approach that builds on the informativeness of China’s financial markets. We use Bloomberg financial data of 1142 publicly listed firms for the period 2019 to 2022 to identify 16 digital markets. We find that China’s new competition regime has reduced market concentration and aggregate growth in the primary markets of its three most dominant digital platforms – Baidu, Alibaba and Tencent (BATs). Further, our results show a robust correlation between the new regulatory approach and reduced market concentration and market capitalization growth rates across China’s digital markets. Other empirical findings include a negative correlation between market concentration and the openness of digital markets, a non-relationship between market concentration and profits, and the inability of profit and revenue-based metrics to capture market power effectively in China’s digital economy. |
| Date: | 2024–01–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:zyc6s&r=hme |
| By: | Sylvain Celle (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Cette communication part d'un questionnement : est-ce qu'il y a une éthique d'entreprise spécifique aux coopératives. L'hypothèse défendue est que ce n'est pas tant une éthique coopérative « en soi » qui serait différente d'autres entreprises (notamment capitalistes), mais que c'est la procédure collective et démocratique du choix de l'éthique d'entreprise qui différencie la coopérative de l'entreprise capitaliste. À partir de là, cette communication propose une mise en perspective historique pour montrer comment les coopératives ont pu défendre des modèles éthiques différents de l'entreprise capitaliste : au XIXe siècle en opposant l'associationnisme au patronage ; au XXe siècle autour de la République coopérative face au paternalisme et en complémentarité de l'État social ; et au XXIe siècle avec le modèle de la SCIC en réponse à l'essor de la RSE. Cette communication pointe enfin un autre élément de rupture (en s'inspirant des travaux d'Anne Salmon) : alors que les modèles éthiques de l'entreprise coopérative ou capitaliste du XIXe et XXe siècle sont des éthiques transcendantes qui s'appuient sur des principes politiques ou religieux supérieurs ; les modèles éthiques de la SCIC et de la RSE au XXIe siècle sont des éthiques immanentes qui s'appuient sur les principes mêmes de l'entreprise (démocratique ou capitaliste). |
| Keywords: | Ethique d'entreprise, Coopératives |
| Date: | 2023–11–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04377094&r=hme |
| By: | Holubová, Barbora; Kahancová, Marta |
| Abstract: | This working paper is part of the DEFEN-CE project and seeks to: • review the existing literature defining vulnerability and vulnerable groups; • develop an own, multi-faceted conceptualization of vulnerable groups, based on the available literature • Find theoretical relevance on the issue of vulnerability • Conceptualize vulnerability and vulnerable groups in order to guide empirical research within the DEFEN-CE project The report collects relevant theoretical concepts and approaches to understand vulnerability as a basis for identifying the vulnerable groups and their operationalization and measurement in the project. We applied a heuristic approach to define the vulnerability/ties and got inspired by the meaning of the concept of the vulnerability and related concepts beyond social sciences or labour market concepts. Basically, we are looking for heuristic matric of vulnerability help us to detect what is the construction of the “vulnerable group”. |
| Date: | 2024–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:2dhyv&r=hme |
| By: | Hosseini, S A Hamed (The University of Newcastle) |
| Abstract: | This paper introduces a novel survey questionnaire designed by S A Hamed Hosseini, aimed at assessing the quality of life of Muslims in regional Australia. The development of this survey is guided by the conceptual framework of the “Well-Living Paradigm, ” as outlined in Hosseini’s 2023 article. This paradigm forms the basis for a comprehensive exploration of various life aspects including socio-economic status, religious practices, health, social networks, and experiences of discrimination among the Muslim community. The questionnaire is unique in its methodical organization and holistic approach, encompassing a range of topics to ensure a thorough understanding of the quality of life from multiple perspectives. This survey operationalizes the new paradigm by structuring questions around its four essential components (objective, subjective, intersubjective, and transsubjective) and dimensions (individual, household, community, and broader society). Each section of the questionnaire is carefully crafted to reflect the key concepts and themes of the paradigm, facilitating data collection that is theoretically aligned and contextually relevant. The survey also incorporates innovative elements, with most questions being developed anew, while others are adapted from established sources like the World Values Survey project. While the survey is specifically tailored for Muslims in regional Australia, its principles can be effectively applied in different settings, necessitating diverse research tools and approaches. This adaptability is balanced with caution against the over-reliance on positivist methodologies. The paradigm advocates a balanced integration of quantitative and qualitative methods within the critical realist ontological and epistemological frameworks. This approach ensures that the data analysis remains deeply connected to and informed by the theoretical underpinnings of the paradigm, thereby guaranteeing empirically sound and philosophically consistent research outcomes. |
| Date: | 2023–12–13 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:2fmhc&r=hme |
| By: | Katigbak, Jovito Jose P.; Villaruel, Jemimah Joanne C. |
| Abstract: | Buoyed by favorable developments at the global and regional levels, circular economy (CE) has been emerging in the Philippines due to an increasing call for the effective mainstreaming of sustainable principles and practices across various economic sectors. Often characterized as an industrial system regenerative or regenerative by design, CE presents guidelines that enable business-, society-, and environment-friendly economic development. This is vital for the Philippines as it seeks to address waste management issues and reduce carbon emissions by advancing Sustainable Development Goal 12: Sustainable Consumption and Production. The government has enacted and implemented several laws, policies, and regulations to steer the country towards cleaner production. The private sector and external partners similarly promote CE through their respective programs, projects, and activities. Notwithstanding the current initiatives, there is a need to focus national thrust and efforts on the micro, small, and medium enterprises (MSMEs) as they comprise over 99 percent of all businesses in the Philippines. This is especially true for women-led MSMEs (WMSMEs), which composed around 60 percent of business name registrations in 2019. Hence, this pilot study sought to assess the level of CE adoption among WMSMEs in Metro Manila through a survey questionnaire, which garnered 58 responses. It found a low level of awareness regarding CE principles and CE-related government programs among the respondents and a lack of demand for circular goods/services by the customers. These translate to misalignment between CE principles and their firm’s strategy and business model. The results also show that most of the WMSMEs in Metro Manila still practice linear methods, as evidenced by the non-use of renewable resources, lack of resource recovery strategies and post-sales services, and absence of ecodesign. The respondents exhibited somewhat positive performance in waste management. In addition, WMSMEs do not engage in CE-oriented partnerships and collaborations with their co-enterprises and customers. Accordingly, the Philippine government may consider a multi-level approach in mainstreaming CE among (W)MSMEs. Micro-level initiatives may include advocacies on CE, training programs for MSMEs, provision of incentives, and business support schemes. At the meso level, smart regulation and mini eco-parks may be explored. Lastly, developing a national framework and monitoring mechanism may be critical undertakings at the macro level. Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph. |
| Keywords: | circular economy;Philippine Development;Sustainable Development Goals;SMEs;women-led MSMEs |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2023-30&r=hme |