J.C. Dragan and M.C. Demetrescu
The purpose of this volume is to offer a guide to the thought of Nicholas Georgescu‐Roegen; a guide which may be understood by a wide intellectual audience. Dragan and Demetrescu…
Abstract
The purpose of this volume is to offer a guide to the thought of Nicholas Georgescu‐Roegen; a guide which may be understood by a wide intellectual audience. Dragan and Demetrescu have succeeded admirably in their task. They have given us a much‐needed overview of Georgescu‐Roegen's life's work, including a brief biography and a comprehensive bibliography of works by and about Georgescu‐Roegen.
This paper aims to tackle in turn the merits and limits of Nicholas Georgescu‐Roegen's entropic model, as well as its implications for the methodological discourse in economics…
Abstract
Purpose
This paper aims to tackle in turn the merits and limits of Nicholas Georgescu‐Roegen's entropic model, as well as its implications for the methodological discourse in economics. This appraisal of the Georgescu‐Roegen's work emphasizes the emergence of the entropic nature of the economic processes as a paradigm à la Kuhn of explanation in social economics.
Design/methodology/approach
This work provides a critical assessment of the entropic model's main conceptual pillars, namely the role of mathematical formalism and the natural imagery of irreversibility. This discussion takes them in turn and develops a critique from a methodological point of view.
Findings
The focus of this work is that the proposed epistemological reconstruction of economics is vulnerable to attacks from two methodological objections. The first deals with the change of metaphor from the “pendulum” of mechanics to the “hourglass” of thermodynamics. The second refers to the changes this replacement of metaphors brings about as to the relevance of the formalism of the discipline.
Originality/value
This material has gathered arguments to show that the intellectual concurrence of the arguments onto the field of physics makes the methodological value of the new paradigm of entropy not transcend into a new logic of reasoning in economics. The limits of this approach stems from the same rationale for which it has got its revolutionary stature: what it proposes consists of a scientific discourse based on a mixture of evolutionary biology, economics and thermodynamics, which may open up new original and insightful perspectives, but which has never been justified on terms of economic nature alone.
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This paper considers the part played by entropy in systems pertaining to discontinuous flow industries. The main principle is that parts or the whole of the economy can be…
Abstract
This paper considers the part played by entropy in systems pertaining to discontinuous flow industries. The main principle is that parts or the whole of the economy can be considered to be cybernetic systems. Various assumptions are then made concerning the relationships between industrial cybernetic systems and entropy. It is thus found that in discontinuous flow industries the main objective is a reduction in entropy engendered by the relations between the component systems. The author notes the close connection between entropy and management decisions, and draws some conclusions about optimizing industrial systems.
Schmoller claimed that the basic principle of social reform was acontemporary version of Aristotelian “justice”. On the onehand Schmoller defends the necessity for social reform…
Abstract
Schmoller claimed that the basic principle of social reform was a contemporary version of Aristotelian “justice”. On the one hand Schmoller defends the necessity for social reform against conservative attacks whilst at the same time denying the legitimacy of Socialist demands for income distribution. The Schmoller approach to justice is re‐examined not only as an important contribution to the history of economics, but of surprising contemporary relevancy.
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Dwi Mariyono, Annis Nur Alifatul Kamila and Akmal Nur Alif Hidayatullah
This study aims to explore the relationship between global unity and cultural diversity in an interconnected world, examining how globalization influences cultural exchange while…
Abstract
Purpose
This study aims to explore the relationship between global unity and cultural diversity in an interconnected world, examining how globalization influences cultural exchange while preserving identities. Using hybrid thematic content analysis (HTCA), it reveals how cross-cultural collaboration can be fostered amid global challenges like climate change, health crises and technology. The research offers insights into integrating global efforts with local cultural nuances to create sustainable solutions. By bridging qualitative and quantitative approaches, it provides new perspectives on harmonizing global interconnectedness with cultural preservation in governance, technological innovation, diplomacy and education.
Design/methodology/approach
This research applied content analysis, thematic analysis and HTCA to examine global unity and cultural diversity. Content analysis highlighted key themes in international frameworks, whereas thematic analysis delved into elements promoting cultural preservation and adaptation. HTCA synthesized these insights, combining content-focused themes with broader cultural, economic and policy perspectives. Data sources included academic literature, international policy documents and case studies from UNESCO and regional cultural policies.
Findings
The findings reveal that while globalization drives global unity, cultural diversity remains crucial for preserving individual identities. Key themes include multiculturalism, cultural exchange, hybridization and resistance to homogenization. While globalization can erode local traditions, it also fosters cultural enrichment, seen in fusion cuisine, multilingualism and ethical fashion. The research identifies strategies for balancing global unity and cultural diversity, such as hybrid approaches to environmental sustainability, integrating cultural insights into global health and inclusive technological innovations like AI and virtual reality. It also highlights the role of institutions like UNESCO in promoting cultural diplomacy and the challenges in balancing global governance with cultural diversity.
Research limitations/implications
This research is limited by its reliance on secondary data from policy documents and literature, without primary data from affected communities or policymakers. Future studies could incorporate interviews and surveys to gain first-hand perspectives. In addition, the geographic focus on documented globalization effects limits broader applicability; more inclusive case studies across diverse cultural contexts are recommended.
Practical implications
The study offers actionable insights for policymakers, educators and cultural leaders to promote inclusive cultural exchange and hybridization strategies. It emphasizes balancing globalization benefits with cultural heritage protection. Practical applications in education, health and technology should consider cultural differences for more inclusive and effective solutions, such as integrating global citizenship and cultural sensitivity in educational policies.
Social implications
The study emphasizes how intercultural understanding and collaboration can enhance social cohesion in multicultural societies. It advocates for celebrating diversity, fostering cultural dialogue and promoting inclusive global policies to build peace and address global issues while maintaining diverse identities.
Originality/value
This study’s originality lies in its methodological triangulation, using HTCA as a novel approach to unify content and thematic insights. By integrating content analysis, thematic analysis and HTCA, this research offers a unique multidimensional analysis of global unity and cultural diversity, revealing how these aspects can coexist within globalization.
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João Sousa Andrade and António Portugal Duarte
The main aim of this chapter is to analyse whether recent economic developments in Central and Eastern European countries have been subjected to a typical process of Dutch Disease…
Abstract
The main aim of this chapter is to analyse whether recent economic developments in Central and Eastern European countries have been subjected to a typical process of Dutch Disease (DD). We investigate the impact of foreign aid and other external inflows on the economies of these countries through their effect on the real exchange rate (RER).
After a review of the literature on the DD, we apply robust new generation augmented Dickey-Fuller (ADF) tests, and autoregressive distributed lag models following the methodology of Arellano and Bond (1991) and Blundell and Bond (1998) to establish the impact of capital inflows on output growth for the period 2003–2013.
We find no significant role for financial costs in the determination of the RER in the integration process of these countries. The evidence supports a positive influence of external capital inflows, and in particular European structural funds, on the determination of RER. This positive influence also extends to non-tradable goods and public investments.
In order to promote medium-long run sustainability, Central and Eastern European countries should carefully apply European funds in a way that does not bring about higher internal prices, or, if possible, control the nominal exchange rate in accordance. They must invest more in the higher qualification of human resources, research and development, innovation, entrepreneurship and industrial clusters, in view of the development of the tradable sector.
It is the first chapter that analyses the presence of DD originated by European structural funds and external inflows of funds for this group of countries.
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Ranjan Dash, Deepa Gupta and Aditi Mishra
Human development is critical for fostering economic growth and development. Given the importance of human development, this study examines the asymmetric impact of Foreign Direct…
Abstract
Purpose
Human development is critical for fostering economic growth and development. Given the importance of human development, this study examines the asymmetric impact of Foreign Direct Investment (FDI) on human development by decomposing total FDI into positive and negative shocks in five South Asian countries from 1990 to 2021.
Design/methodology/approach
The study uses the panel Non-linear Autoregressive Distributive Lag model (NARDL) to examine asymmetric long and short-run effects of FDI. Further, the direction of causality between HDI and FDI is examined using the recently developed (Joudis et al., 2021) panel granger non-causality test.
Findings
The positive and negative FDI shocks positively impact HDI, but positive shocks have a higher effect than negative shocks in the long run. The Wald Test rejects the long-run symmetric effect, confirming the asymmetric relationship between FDI and human development. More importantly, causality results reveal the FDI-led HDI and HDI-led FDI development in South Asia.
Practical implications
FDI should be encouraged by formulating a well-tailored policy intervention. The development policies should be interlinked with FDI policies. Absorptive capacities such as infrastructure facilities, a threshold level of human capital, and institutions should be strengthened to attract higher FDI into high-tech sectors.
Originality/value
Unlike the previous empirical studies, this study provides asymmetric evidence between FDI and human development in South Asia.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0380.
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This article proposes a conceptual framework and a research methodology for transferring marketing technology to developing countries to address important societal problems. The…
Abstract
This article proposes a conceptual framework and a research methodology for transferring marketing technology to developing countries to address important societal problems. The methodology developed by the author is described and illustrated with an empirical investigation. Guidelines for implementation of this methodology in developing countries are also provided.
Carmen Giorgiana Bonaci, Răzvan V. Mustaţă, Alexandra Muţiu and Jiří Strouhal
We propose a research design involving the use of Bloom’s taxonomy both in facilitating the teaching–learning process and in the educator assessing students’ final grades. The…
Abstract
Purpose
We propose a research design involving the use of Bloom’s taxonomy both in facilitating the teaching–learning process and in the educator assessing students’ final grades. The latter are compared with students’ self-acknowledged grades. Testing is done by considering a sample of accounting students enrolled for the Controlling course in Romania.
Methodology/approach
The employed research methodology relies on two instruments: a questionnaire and the examination process. Cluster analysis is used in analyzing students’ grades. Determinants of students’ academic performance are discussed by using factor analysis.
Findings
Comparing students’ self-acknowledged grades with those assessed by the educator, we document the necessity of further work in enhancing students’ ability to better assess their academic performance. Questions belonging to the application and analysis levels seem to be preferred by students.
Practical implications
We raise a series of theoretical questions in the area of examination performance. The obtained results in relation to the assessment of accounting students’ academic performance and its determinants offer useful insights for accounting educators.
Originality/value of chapter
Our chapter tests the use of Bloom’s taxonomy in the context of an emerging country’s educational system that lacked consistency and faced significant challenges throughout history. We also consider two measures for students’ academic performance as perceptions upon what should be the same result of the teaching–learning process. The chapter addresses the evolutions and particularities of the Romanian academic environment in the area of economics, developing a brief analysis meant to position the testing of the proposed research design.
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Devran Sanli and Ramazan Arslan
This article investigates the validity of the different types (conditional, unconditional, deterministic, stochastic) of ß-convergence in per capita GDP for EU-28 and EU-19…
Abstract
Purpose
This article investigates the validity of the different types (conditional, unconditional, deterministic, stochastic) of ß-convergence in per capita GDP for EU-28 and EU-19 between 1990 and 2019.
Design/methodology/approach
The study uses nonstationary heterogeneous panel-data methodology.
Findings
The panel data reveal that both conditional and unconditional ß-convergence are valid in EU-28 countries However, only conditional convergence exists in EU-19 countries; group-specific findings show that the income levels of 10-EU countries converge toward the EU-19 average and 11-EU countries converge to the EU-28. The convergence speed to EU average varies between 15 and 18%. The robustness of the augmented mean group (AMG) findings are checked with common correlated effects mean group (CCEMG) and are consistent. Moreover, panel unit root tests are applied to examine the stochastic and deterministic convergence of the average EU per capita income in the two groups of EU economies. The findings show no evidence of deterministic or stochastic convergence in EU countries. Besides, conditional convergence has not been experienced in countries such as Bulgaria, Croatia, Czech Republic, Hungary, Latvia, Malta, Romania, Slovakia and Slovenia, which are new members of the EU. As a remarkable aspect of the study, the evidence suggests that the Brexit is economically rational for the UK.
Originality/value
The growth and convergence processes of economies differ from each other. Convergence studies in the literature are generally based on the cross-section OLS methodology. In this context, the study is one of the rare studies to examine convergence using heterogeneous panel techniques and allows the convergence of countries to the EU average to be analyzed individually.