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The purpose of this paper is to examine the multiplier effects of economic activities in the local economy of Greek non-metropolitan prefectures at NUTS3 level according to the Eurostat classification.

A disaggregate economic base model using OLS regression with clustered standard errors is implemented in 49 non-metropolitan prefectures and 17 economic activities for 2000 and 2012. The specific model indicates a clear picture of multiplier effects of economic activities among the prefectures as it has a similar logic to the input-output analysis while bearing in mind the spatial effects among prefectures. The specific model has not applied for testing base multipliers in the Greek economy according to the academic literature.

Non-traditional export-oriented activities play a significant role in the economic growth of the non-metropolitan prefectures. Their multiplier effects are higher than the traditional basic activities. Especially, some of these activities indicate strong shifts on specific local activities, which tend to be the significant multiplier effects on the overall local economy. Of course, the existence of agglomeration economies plays a considerable role in non-metropolitan prefectures with a significant population and non-metropolitan prefectures which are in insular space or belong to the perimetric and interior mountainous space, which are sparsely populated.

The specific model applies at the NUTS3 level, according to the Eurostat classification. Also, the model indicates that the multiplier effects come from non-traditional export activities, such as, information-communication, arts entertainment, health services, professional support services and real estate in the overall local economy. Finally, the spatial correlation influences the sectoral multipliers.

Mora and Acevedo (2019) report that the government spending multipliers in Latin American countries are notably higher than what is typically reported for developed economies. Latin American countries have been inclined toward using procyclical fiscal policies. Those policies have been perceived as being effective at mitigating the effects of the 2008–2009 Great Recession. This study aims to estimate the government spending multiplier using Latin American panel data from 19 Latin American countries from 2000 to 2018. The estimates are conditional on the extent of openness, capital mobility and economic freedom. Based on the results, the latter is important: the less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

The authors provide regression results that are conditional on the extent of openness, capital mobility and economic freedom.

The less economically free a country, the larger its spending multiplier. Lower economic freedom in Latin American countries can help to account for their large spending multipliers. In particular, restrictions on international trade are positively associated with multipliers. This is the case even while controlling the trade share of GDP.

To the best of the authors’ knowledge, this is first study to estimate the fiscal multiplier conditional on economic freedom levels. The authors provide correctly calculated multipliers conditional on different levels of economic freedom. The authors point the way to future studies considering the effectiveness of fiscal policy conditional on institutional/policy quality.

This paper aims to investigate the issue of performance measurement of social enterprises with main particular focus on economic performance approach reflecting local aspect, since the local aspect plays a significant role in social entrepreneurship concept. Thus, comparison of two instruments that consider local aspects: local multiplier 3 (LM3) and Input-Output analysis is examined. Input-Output analysis is empirically used to calculate social enterprises’ impact on the Czech economy and to confirm the assumption to be more suitable instrument for economic performance measurement of social enterprises in comparison to local multiplier 3 method.

The research adopted two-phase approach. At first a qualitative approach was used to compare the two selected instruments (LM3 and Input-Output analysis). Consequently, a quantitative research was applied to determine the impact of social enterprises’ activities on the economies of individual regions. The research was carried out on a sample of social enterprises (143 subjects) in the Czech Republic covering the year 2015. For this approach, Symmetric Input-Output tables and multipliers were calculated and revenue data from each observed social enterprise were used.

The findings of the research indicate effects of social enterprises’ activities on the economy in individual regions of the Czech Republic. The results clearly show that the impact of social enterprises on the Czech economy is not negligible. Calculated impacts differ in sectors as well as in regions. Besides, of these findings, the assumption that the Input-Output analysis is more appropriate instrument for economic performance measurement of social enterprises, especially in situation of a larger sample of social enterprises in different regions, in comparison to LM3 method, was confirmed.

The limitations of this study is the dependence on the Symmetric Input-Output tables, which are usually published by local statistical offices and it takes some time to construct them. A more significant limitation and future research direction relates to the lack of generally accepted measurement framework in the sector of social enterprises and lack of the data, especially quantitative, in the Czech Republic.

The findings of the research represent a significant contribution to the process chain of understanding the role of social enterprises in (local) economy. The lack of proven impact of social enterprises to economy is considered as important limit of this sector development, not only from the perspective of investors and donors but also from the perspective of policymakers and even social enterprises themselves. The Input-Output analysis can be applied for any region of any country and can contribute to reduce scepticism about economic performance of social enterprises, thus to support putting social and environmental goals of social enterprises into practice.

This research has been carried out on the so far largest identified sample of social enterprises in the Czech Republic and provides data for discourse among stakeholders about social enterprises’ impact; thus, it enables to understand their impact and make capable to enlarge their support network and development.

This research is a pioneering attempt to provide data about economic impact of social enterprises using Input-Output analysis in the Czech Republic. No previous research identifies such a large sample of Czech social enterprises and collects quantitative data about them, as well as considers Input-Output analysis as an option instead of LM3 method. The effort of this research has been to react on a research gap in studies related to the impact of social enterprises (reflecting local aspect). This paper could be understood as beneficial not only from the perspective of the Czech Republic but also worldwide.

This paper analyses how firm births and deaths are influenced by previous firm births and deaths in related and unrelated sectors. Competition and multiplier effects are used as the theoretical lens for this analysis.

This paper uses 2008–2016 Irish business demography data pertaining to 568 NACE 4-digit sectors within 20 NACE 1-digit industries across 34 Irish county and sub-county regions within 8 NUTS3 regions. A three-stage least squares (3SLS) estimation is used to analyse the impact of past firm deaths (births) on future firm births (deaths). The effect of relatedness on firm interrelationships is explicitly modelled and captured.

Findings indicate that the multiplier effect operates mostly through related sectors, while the competition effect operates mostly through unrelated sectors.

This paper's findings show that firm interrelationships are significantly influenced by the degree of relatedness between firms. The raw data used to calculate firm birth and death rates in this analysis are count data. Each new firm is measured the same as another regardless of differing features like size. Some research has shown that smaller firms have a greater propensity to create entrepreneurs (Parker, 2009). Thus, it is possible that the death of differently sized firms may contribute differently to multiplier effects where births induce further births. Future research could seek to examine this.

These findings have implications for policy initiatives concerned with increasing entrepreneurship. Some express concerns that public investment into entrepreneurship can lead to “crowding out” effects (Cumming and Johan, 2019), meaning that public investment into entrepreneurship could displace or reduce private investment into entrepreneurship (Audretsch and Fiedler, 2023; Zikou et al., 2017). This study’s findings indicate that using public investment to increase firm births could increase future firm births in related and unrelated sectors. However, more negative “crowding out” effects may also occur in unrelated sectors, meaning that public investment which stimulates firm births in a certain sector could induce firm deaths and crowd out entrepreneurship in unrelated sectors.

This paper is the first in the literature to explicitly account for the role of relatedness in firm interrelationships.

The purpose of this study was to estimate the capacity of the predominant activity of the Hotel and Restaurant (H&R) sector to create female employment in European Union (EU) countries.

The methodology used was conducted in two stages. First, a branch employment multiplier was calculated using the Leontief input-output tables (IOTs), which show the direct and indirect capacity of the activity to generate female employment. Second, a regression model was estimated to explain the determinants of the female employment multiplier in the H&R sector. It should be noted that the reliability and simplicity of the proposed model allows countries without IOTs, but with gender-disaggregated labor statistics, to easily estimate their own female employment multiplier.

The results show that the job-creation capacity of the H&R sector significantly varies across the EU countries, especially in relation to the female employment multiplier. Although international differences in gender wage gaps help to explain such multipliers, institutional factors and feminization rate also play a key role.

The results may contribute to improving the actions of member states to stimulate the sustainable development of the tourism sector.

Based on previous literature, the finding that higher tourism expenditure may result in increases in tourism employment gives rise to another set of interesting questions. The most fundamental of these may concern the nature of the economic underpinnings of the growth of female employment. This paper contributes to this issue by conducting a specific analysis across EU countries using a homogenous and comparable methodology.

Nowadays it is — to a certain extent — popular to criticize international tourism to third world countries. These criticisms may base on widely divergent aspects of the phenomenon, ranging from for instance the economic impact to the environmental impact or the psychological impact. Without implicitly suggesting that the non‐economic effects of international tourism in developing countries are unimportant we will concentrate in the following on the economic impact. The reason for this is twofold:

Soon after the Lehman crisis, the International Monetary Fund (IMF) surprised its critics with a reconsideration of its research and advice on fiscal policy. The paper traces the influence that the Fund’s senior management and research elite has had on the recalibration of the IMF’s doctrine on fiscal policy. The findings suggest that overall there has been some selective incorporation of unorthodox ideas in the Fund’s fiscal doctrine, while the strong thesis that austerity has expansionary effects has been rejected. Indeed, the Fund’s new orthodoxy is concerned with the recessionary effects of fiscal consolidation and, more recently, endorses calls for a more progressive adjustment of the costs of fiscal sustainability. These changes notwithstanding, the IMF’s adaptive incremental transformation on fiscal policy issues falls short of a paradigm shift and is best conceived of as an important recalibration of the precrisis status quo.

The tourism multiplier effect (TME) is the total economic impact of tourism demand, representing the linkages between tourism and other businesses in an area. However, study about it is limited in Indonesia, especially at the provincial level and after the COVID-19 crisis. This study aims to estimate the TME in all provinces of Indonesia, test its differences in priority and non-priority areas before and after the COVID-19 crisis, analyze its spatial distribution and examine the determinant factor of TME

This study applies an input-output model to measure the TME of all provinces in Indonesia, an independent sample t-test to examine the similarity of TME in priority and nonpriority areas, a paired sample t-test to examine the similarity of it before and after the COVID-19 crisis, and spatial analysis to check its spatial relationship.

The result shows that regional TME ranges from 1.25 to 2.05 in 2019, which changed slightly over time. The empirical result shows the TME difference before and after the COVID-19 crisis, and there is a spatial correlation in terms of TME with the hot spots are clustered in the eastern region of Indonesia, However, there was a slight change in the position of hot spots during the COVID-19 crisis. Moreover, the spatial model shows that value-added and employment in agriculture, manufacturing, trade and transportation affect the size of TME.

This study contributes to the academic literature by providing the first estimate of the TME at the provincial level in Indonesia, comparing the it in priority and non-priority areas before and after the COVID-19 crisis, and mapping its spatial distribution.

The purpose of this paper is to adopt a behavioural approach to explain how the internet use influences stock market participation (SMP) decisions.

Drawing on the literature on sociability and SMP, this paper analyses whether virtual sociability affects SMP decision in a sample of 34,715 individuals in 14 European countries.

The results show that internet users are more likely to be stockowners. However, the obtained evidence does not support either an informational effect or a social multiplier effect of the virtual sociability. After controlling by the country’s SMP rates, a positive effect of internet usage on SMP decision remains, suggesting that contextual factors matter rather than internet usage per se. Thus, in countries where individuals are “used” to being stockholders, the habit of using internet increases SMP, but the “breeding ground” is a necessary condition.

The massive use of the internet provides a valuable opportunity to find evidence of the frictional costs which would act as inhibitors of the SMP, as economic theory hypothesised. After some promising results, the differences in the evolution of both the SMP and internet usage rates have not confirmed the initial enthusiasm. In addition, the question of why the SMP rates systematically differ across countries still remains open.

Tourism is an essential industry in Indonesia, and understanding its inter-sectoral and inter-regional connections is critical for policy development. This study examines the economic impact of regional tourism in Indonesia and the connections between different tourism-related regions and industries.

This study uses a non-survey method to estimate the inter-regional input-output table (IRIOT) in 2019, backward and forward linkage to identify the role of tourism in the economy, and the structural path analysis (SPA) to identify the inter-sectoral and inter-regional flow of tourism effect. The benchmark IRIOT 2016 published by Badan Pusat Statistik (BPS) serves as the primary data source.

The findings indicate that tourism has a relatively high impact on the overall national economy and plays an essential role in nine provinces. However, this study uses four provinces to represent Indonesian tourism: Jakarta, Jawa Timur, Bali, and Kepulauan Riau. The SPA result captures that Kepulauan Riau Province has the highest tourism multiplier effect and Jawa Timur has the highest coverage value. Moreover, the manufacturing sector receives the most benefit from the tourism effect, followed by trade, construction, agriculture, transportation, and electricity-gas. From a spatial perspective, tourism connections are not solely based on geographical proximity. Instead, they are established through an intricate supply chain network of manufactured goods. This emphasizes the significance of considering supply chain dynamics when investigating inter-regional relationships in the tourism sector.

This research contributes to the literature by estimating the IRIOT in 2019, disaggregating tourism activities from related economic sectors, constructing tourism-extended IRIOT, and identifying the critical path of tourism effect in numerous provinces with different economic structures. This novel approach offers valuable insights into the full spectrum of tourism’s economic impact, which has not been previously explored in this depth. This study is useful for policymaking, investment insight, and disaster mitigation.