An Analysis of the Impact of Economic Growth, Political Instability and Exchange Rate on Tourism Growth in South Africa

Author(s): Daniel Francois Meyer / Language(s): English / Publication Year: 0

Globally the tourism sector is one of the main economic sectors in attracting and generating foreign revenue. The sector accounts for seven percent of global foreign revenue as an export industry. In South Africa the low growth environment over the last decade has resulted in the need to find alternative economic sectors in support to traditional sectors such as mining and manufacturing, to drive higher levels of economic growth in the country. The aim of this study was to analyse the relationship between tourism as the dependent variable, and economic growth, exchange rate changes and political stability, as independent variables. The study region selected is South Africa, which is classified as a developing country and is in many cases seen as the proxy for emerging economies. This study followed a quantitative research approach with time series data from 1996 to 2017. The relationships between the variables were analysed by means of the Johansen cointegration, Vector Error Correction and Granger causality econometric models. The results indicated that there are both long and short-run relationships between the variables. A number of policy recommendations that could potentially contribute to the extension of the role of tourism in development include improved political and currency stability in the country as well as the relaxation of visa requirements.

An Austro-Libertarian Critique of Public Choice

Author(s): Thomas J. DiLorenzo,Walter E. Block / Language(s): English / Publication Year: 2016

We do not say that the Public Choice School has not made any positive contribution to political economy. It has. The originators of it, James Buchanan and Gordon Tullock, along with their many followers and collaborators, have done important work on rational voter theory, setting up a meeting agenda, game theory, etc. Nor can we object to the application of economic theory to political issues. Far from it. However, the present book seeks to uncover its many failures. For example, the fact that underneath the veneer of its supposed adherence to value-free positive analysis lies a value-laden support for statism. To wit, its emphasis and reliance on “theoretical unanimity” not the actual unanimity incorporated in every commercial act under free enterprise. We also take issue with its nomenclature “rent seeking” albeit not the concept itself. Why pick on innocuous “rent” to describe crony capitalism?

ANALIZA LOKALNYCH ZALEŻNOŚCI PRODUKCJI 2 PRZEMYSŁOWEJ NA PRZYKŁADZIE POWIATÓW 3 WOJEWÓDZTWA LUBUSKIEGO

Author(s): Przemyslaw Szczucinski / Language(s): Polish / Issue: 3/2018

Local development can be understood as a process affecting the 11 relation between production and consumption, and local living conditions in a 12 given territory. The topic of the cross-section of poviats of the Lubuskie 13 Voivodeship was presented in this dissertation. A descriptive analysis of the 14 structure of employed was carried out and the changes in the volume of sold 15 production of industry by poviats were examined. In order to model 16 dependencies regarding the development of sold production, due to the 17 specificity of the data, panel models were used. The models with fixed and 18 random effects were subjected to estimation and verification in the context of 19 the pooled regression model.

Analiza powiązań w handlu zagranicznym

Author(s): Renáta Madzinová / Language(s): English / Issue: 5/2011

Globalization is accompanied by the deepening international division of labour and is associated with countries specializing in production of selected goods or their components. Specialization of production gives rise to corporate multinationals moving goods and services from country to country in order to take advantage of the host country. In international trade, then the movements of goods and services between countries are not the net trade, but it is more or less an in-house trade in goods and services within the corporation.

Analytical study regarding the sovereignty’s paradigm in the european space

Author(s): Andrea-Réka Nagy / Language(s): English / Issue: 13/2018

The concept of sovereignty has raised intense academic debates for more than a century. The notion in itself was and is under ongoing change, evolving at the same time with the political and historical circumstances. The present work is focused on searching for an answer to the question to what degree the post-modern multi-dimensional sovereignty affects the national classical sovereignty, known also as westphalian. Moreover, it will be analyze whether the European regionalization or integration represents a limit with regard to the state sovereignty or it insures its existence itself. The hypothesis from which it is started is that it was produced an expansion, a recalibration of the semantic sphere of the concept of sovereignty, the notion not being able to be understood in a classical form because, in the globalization context, the defense of the national territory depends upon the optimal cooperation. The efficient cooperation insures the regional security, and the growing tensions in the EU lead to the increase of insecurity and, implicitly, to the increase of the national insecurity. The national sovereignty depends on the regional structure of which it is part of.

Analýza vplyvu globalizačných procesov na ekonomiky vyspelých krajín

Author(s): Lenka Pelegrinová,Martin Lacný / Language(s): Slovak / Issue: 2/2013

The concept of globalization is interpreted by various authors in terms of its importance or content. This article presents an overview of the theoretical background and results of an analysis of the influence of globalization trends on important macroeconomic indicators of selected countries. An examination of the level of globalization as a quantitative marker was enabled by the KOF Index of Globalization, which provides an indication of the economic, political and social globalization at global level. Research methods included time series analysis, trend analysis and nonparametric regression model (regression of panel data).

Anatomizing urban phenomena through the lens of political economy: A modern revisit (review of Reconstructing urban economics: Towards a political economy of the built environment)

Author(s): Yung Yau / Language(s): English / Issue: 1/2017

Review of: Title: Reconstructing urban economics: Towards a political economy of the built environment Author: Franklin Obeng-Odoom Publisher: ZED Books Place and year of publication: London, 2016 Number of pages: 296 [ISBN: 978-1-7836-0659-7]

Ancient, Modern and Contemporary Individualism

Author(s): Tibor R. Machan / Language(s): English / Publication Year: 2013

An individualist usually believes that human beings, contrary to what socialists like Karl Marx or Auguste Comte thought, are first and foremost unique, irreplaceable members of the human species, capable of independent thought and action once they reach maturity, and free to choose their conduct based on their conscious thinking. As such, they require the kind of community that makes room for their independence, a community that protects individual rights to life, liberty and the pursuit of one’s chosen goals in life. Although members of the human species and thus possessing a few common attributes, human individuals are a varied lot and flourish best in communities that makes varied pursuits possible, such as the free market political economic order. From time immemorial the individuality of human beings has been evident (mostly so in creative realms such as art, religion and technology) although often suppressed by rulers who wanted a one size fits all type of society to serve their own objectives. So in various historical times it has been a struggle to forge political-legal systems that do full justice to our human individuality.

Angielski handel zewnętrzny (i kolonialny) w latach 1715–1740. Amerykanizacja rynku pozauropejskiego

Author(s): Piotr Robak / Language(s): Polish / Issue: 2/2013

The article is focused on the presentation of the main directions of a growth of English foreign (and colonial) trade in the peacetime period in the international relationals in the Atlantic sphere between 1715–1740. The English overseas statistics (especially based on the collected data by E.B. Schumpeter) have indicated that in the described period was the continuance of a growth of English foreign trade (so called in a historical literature „trade revolution”) which had the beginning in the second half of the XVIIth century. The trade was marked by a superiority of the traditional European markets (especially in the Northern Atlantic countries) with a positive balance but much more dynamic was the growth of English Extraeuropean trade (essentially the colonial trade) in so called the Atlantic sphere of English economy. The main role in the latter played the American market (from Canada to some Carraibean Isles) with some share of the Iberoamerican markets. The part of Atlantic English trade dominated the whole English Extraeuropean trade (so called by some historians the Americanisation of English trade). The latter, however, was an unprofitable with some exception of the Western African trade but thanks to the steady increase of the role of overseas imports (especially many colonial products) in the English European re-eksport the whole English foreign trade had a regular positive balance in the described period. The Americanisation of English Extraeuropaen trade made the main level of British-French colonial rivalry (with an important share of Spanish colonies in the both Americas) in the first half of the XVIIIth century. The rivalry brought to an end the peacetime period in the Atlantic sphere when the breaking out of British-Spanish colonial war united a farther growth of English foreign trade with the war of Empire (1739–1740).

Anselm Jappe: La fin du capitalisme ne sera pas une fin pacifique

Author(s): Mark Losoncz / Language(s): French / Issue: 4/2015

Answers from a Real Radical - Interviews with Tibor Machan

Author(s): Tibor R. Machan / Language(s): English / Publication Year: 2014

Machan, a radical libertarian, addresses a wide array of political economic issues, in a variety of interviews he has given over five decades. This book is rich with insights from the classical liberal, laissez faire tradition, the only one that consistently supports the idea of a bona fide free society. Machan discusses innumerable topics with a relentless concern for securing individual human liberty in all of its dimensions.

Antipolitika és a kapitalizmus szelleme: Disszidensek, monetaristák és a cseh rendszerváltás

Author(s): Gil Eyal / Language(s): Hungarian / Issue: 21/2014

The article focuses on the – at the first sight counterintuitive – temporary alliance between two important social groups (the so-called „dissidents” and „monetarists”) during the Czech transition to capitalism. After the repression following the Prague Spring in 1968, the two groups find themselves in different social positions. While a part of the humanist intelligentsia, as a response to ideological repression, chose to „dissent” and subscribe for the ideas of anti-politics and to „live within the truth”, a great number of critical economists could remain within the institutions of the state apparatus (albeit without being able to make a career), where they gradually picked up monetarists ideas and practices. The dissidents imagined themselves as having a moral authority because of their sacrifice, and through their pastoral power they persuaded people to participate in a self-organized civil society put in contrast to the socialist regime. The monetarists, on the other hand, subscribed for the idea of the market and for its technique of „governing from distance” as opposed to the state’s discretionary interventions. Because of their elective affiliation, the two groups became the main mediums of the spirit of capitalism during the transition process, thus they created the bases of „capitalism without capitalists”. Though the alliance between the two groups did not last long, during their affiliation they created the context of neoliberal reforms by the monetarist technology of governing from distance and by propagating the idea that the society should purify itself by sacrifice.

Antropološka kritika teze o "braku kupovinom žena" kao prilog promišljanju interdisciplinarnosti

Author(s): Zorica Ivanovic / Language(s): Serbian / Issue: 2/2007

Anthropological research demonstrates that exchanges and transactions related to marriage alliances, regardless of their central organizing principle and form, are not governed by the logic of the market but by the logic of gift exchange. Thus, the exchange of women for worthy material goods and valuables (bride wealth), which is (or has been) a dominant form of marriage transactions in Africa and some parts of Asia and Oceania, cannot be understood as commodity exchange and "wife purchase". The "marriage by wife purchase" thesis, developed within a Victorian evolutionist paradigm, has been rejected in anthropology a long time ago. At the same time, some more recent research showed that the exchange of persons for goods as a principle of marriage exchanges and transactions does not entail only the practice of exchanging women for material goods. In some societies, marriage transactions are based on the principle of exchanging men for goods (groom wealth). This research called into question, once again, not only the "wife purchase" theory but also Levi-Strauss' fundamental assumption about the "exchange of women between groups of men". In response to the fact that the "marriage by wife purchase" thesis is still regarded as an adequate explanation not only in the popular discourse but also in the Serbian scientific literature, this article seeks to offer an anthropological critique of the thesis and to draw attention to some key interdisciplinary disagreements that emerge in the interpretation of this particular form of marriage transactions. The article also discusses theoretical and epistemological assumptions which underpin the "marriage by purchase" thesis, as well as the process of critical examination that led anthropology to discard the thesis. From a contemporary anthropological perspective, the article suggests a possibility to explore a cultural and political economy of the gift, since the logic of gift is different from but not diametrically opposed to the logic of commodity exchange.

Arond the Bloc: Russia Clamping Down on ‘Foreign Agents’

Author(s): TOL TOL / Language(s): English / Issue: 05/17/2016

New Justice Ministry report says illegal for foreign-funded NGOs even to criticize the country’s leaders or discredit government policies.

Around the Bloc: Detained Russian Governor on Hunger Strike

Author(s): TOL TOL / Language(s): English / Issue: 07/05/2016

Kremlin critic says he was framed and that he’s ready to explain everything.

Around the Bloc: Heads Roll at Independent-Minded Russian Media Group

Author(s): TOL TOL / Language(s): English / Issue: 05/17/2016

Ouster of three top editors follows police raids on other assets of owner Mikhail Prokhorov.

Austerity and Growth in Europe: Germany’s Impossible Mission

Author(s): Shampa Roy-Mukherjee,Vassilis K. Fouskas / Language(s): English / Issue: 04/2016

This article provides a critique of neo-liberal, supply-side austerity policies as they unfold asymmetrically in the EU/Euro-zone and beyond. The main argument advanced is that, contrary to claims by the European Commission and Germany’s elite, growth and austerity are incompatible policy magnitudes. The Euro-zone constitutes the worst form of Gold Standard from which countries cannot escape and advance the imperative of domestic growth as external devaluation and import-substitution are no-options. The article shows neo-liberal austerity is currently being implemented via authoritarian forms of governance from above while cultivating racist and xenophobic movements from below