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World Economics 18.2: Measuring GDP
This issue concentrates on problems in measuring GDP accurately. Issues covered include using the use of price indices to deflate nominal GDP to estimate real GDP, the measurement of GDP across regions and problems in assessing the course of GDP over historical time periods with particular reference to China.
World Economics 18.1: Financial Services
The issue focuses on how estimates of the economic contribution of financial services are unreliable and measuring inequality by evaluating a multidimensional poverty index and a review of agricultural financing and rural inequality in Egypt
World Economics 17.4: Economic Imbalances
The issue focuses on imbalances across the world economy including trade surpluses and deficits and flows of capital in and out of Africa and migration flows.
World Economics 17.3: International Finance
This edition of World Economics focuses on international finance with an emphasis on capital volatility, independent monetary policy and the role of central banks.
Search the extensive 17 year World Economics archive
The World Economics Journal archive spans 17 years and over 650+ articles from Pension Reform, Green Economics, Finance and Investment, Africa to Capital flight and Infrastructure investment benefits.
Volume 18, Number 2: April - June 2017
New Estimates of Regional GDP in the UK
Real GDP is estimated by applying a price-level estimate or deflator to nominal GDP, but GDP levels in the UK’s 12 inhabited regions are only reported at nominal prices with no allowance for differences in regional prices....
Why Maddison was Wrong
Much academic debate in Western and Chinese universities has engaged in testing the hypothesis that standards of living in China did not fall behind those of the populations of the national economies of Western Europe until late in the eighteenth century...
Double Deflation Casts Doubt on Existing GDP Data
Increasingly, national income statisticians, the specialists involved in producing real national income figures, and the users of those figures are living in a parallel universe...
Building a New Testable Model to Estimate Total Factor Productivity
A new model to measure Total Factor Productivity free from the flaws which exist in previous models; appropriate data are used to test it...
Assessing the G20’s Mutual Assessment Process: A MAP but Little Direction
After the global economic and financial crisis, the G20 has tried to orchestrate an internationally coordinated approach to economic recovery...
Measuring the Elusive Middle Class and Estimating its Role in Economic Development and Democracy
The middle class has a special role in economic, political, and social thought, but social scientists seem unable to agree on how to define or measure it...
How to Reconcile Democracy, the State and the Global Market
Nation states were the vehicle for market capitalism, but global market capitalism has freed itself from regulations imposed by nation states. A trilemma between democracy, the state and the market became an irreconcilable one, and gathered momentum...
Problem or Solution: Data on Sub-National Debt for Infrastructural Development in Nigeria
Nigeria has witnessed a substantial rise in sub-national debt at the state level in an economy characterised by infrastructural decay and macro-economic imbalance...
The Data Quality Index
GDP data is important used to apportion funds from international organisations, to influence rating agency decisions and much more, but official data is totally inadequate for the demands made of it....
Volume 18, Number 1: January - March 2017
Neglect Private Debt at the Economy’s Peril?
The role of private debt as a cause of financial crises and prolonged recessions is often neglected. In Cyprus policy concern has focused on government debt despite the problem of a rapid growth of private debt and its wasteful use...
Are Estimates of the Economic Contribution of Financial Services Reliable
The methods used to estimate the contribution of financial services to national income are seriously flawed. Banking sector output in the UK was estimated to have increased in 2008 while the financial services sector was collapsing...
Measuring the Performance of Fiscal Reforms
Public spending has raised the welfare of citizens in the Gulf Cooperation Countries (GCC) significantly over the period 1960–2015, particularly as measured in raised average life expectancy and lowered infant mortality rates...
An Evaluation of the Multidimensional Poverty Index
The need to define development has witnessed many attempts to condense a country’s economic deprivation into a single figure. In order to target poor citizens, it is important to classify those who are ‘non-poor’ by a poverty statistic...
Measuring the Impact of Agricultural Finance on Rural Inequality
Evidence suggests that financial development and improved access to credit not only accelerates economic growth, but also reduces household poverty and income inequality...
The Impact of Minimum Wage Legislation
Minimum wage policies are powerful political tools, but the economic effects are unlikely to be in the interests of society as a whole. Wages should be left to the free operation of market forces...
Sovereign Wealth Fund Investment in Economic Transformation
The prospect of prolonged lower hydrocarbon and commodity prices has forced many countries to reconsider both fiscal policy and sovereign wealth fund asset allocation to address possible liquidity needs...
The Environmental Kuznets Curve
TThe Kuznets curve is an income inequality measure used in development studies which predicts an inverse-U shape with inequality first rising with industrialisation and then declining, as more and more workers join the high-productivity sectors of the economy...
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