Theoretical Economics Letters

Journal Information
ISSN / EISSN : 2162-2078 / 2162-2086
Published by: Scientific Research Publishing, Inc. (10.4236)
Total articles ≅ 1,311
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Latest articles in this journal

Edwige Kamitewoko
Theoretical Economics Letters, Volume 12, pp 530-545; https://doi.org/10.4236/tel.2022.122030

Abstract:
African countries are expected to be having a comparative advantage when it comes to agricultural products. If this is true, specializing in agriculture can increase output levels. However, the effect of agriculture on growth has yielded various research interests and the results differ from country to country. The present study investigates the impact of agriculture on economic growth in Congo Brazzaville using the Autoregressive Distributed Lag (ARDL) estimation technique, employing secondary data from 2005 to 2018. Different variables are used such as agricultural value added, the industrial value added, gross fixed capital formation and Corruption Perceptions Index. The results suggest that in the short run; agricultural is significant at the 5% level and has a positive impact on economic growth. Similarly, its lag is also significant at the 1% level and negatively impacts growth. In the long run, on the other hand, agricultural production (agricultural value added) has a negative and insignificant effect on economic growth. Thus, the agricultural sector plays an important role in the early stages of economic development, and when the economy has developed, agriculture plays a minimal role. It is evident from the results of this paper that agriculture is an engine for growth in the short run and should eventually be supported by other macroeconomic policies to promote economic growth in the long run. Congolese farmers must increase productivity in the agriculture sector which plays a primordial role in production and employment in order to enable the development of the industrial sector and therefore boost economic growth.
José Renato De Paula Souza Jardim, José Odálio dos Santos, Peter Vaz da Fonseca
Theoretical Economics Letters, Volume 12, pp 216-228; https://doi.org/10.4236/tel.2022.121012

Abstract:
One of the main financial policies is related to the capital structure to be defined by the companies. For this reason, studies related to factors determining the capital structure have a high priority on the research agenda in finance area. This being so, the proposal is to investigate whether the nature of the company’s shareholding control—family, foreign, state-owned—affects its capital structure. It is the first work that uses real shareholding control. For the development of this research, the publicly traded Brazilian companies listed in B3 are adopted as a sample. The analyzed sample covers 128 Brazilian companies listed in B3, between 2010 and 2017, excluding companies from the financial sector. It is necessary to study each company report to discover last—and true—shareholding control (Reference Forms). To verify the influence of the capital structure, regression models with panel data are used (fixed effect and robustness). The results are consistent with the expected ones: 1) the excessive concentration of family capital impairs indebtedness, which, due to the control loss aversion, reduces the financing by debt; 2) the concentration of foreign capital favors companies’ indebtedness, as they have more efficient management, better access to financing sources and better investment opportunities, and, 3) the concentration of state capital favors indebtedness, since these companies are of government’s interest to maximize the country’s development, and have low capital costs arising from development banks.
Christelle Inès Leticia Ndombi Ondze, Geslin William Ondaye, Esther Victorie Ngakoli
Theoretical Economics Letters, Volume 12, pp 6-18; https://doi.org/10.4236/tel.2022.121002

Abstract:
The objective of this article is to highlight the characteristics of unbanked households in the Republic of Congo. Starting from the Binomial Logit model based on data from the survey conducted by the National Credit Council (2015), the results show that age, gender, marital status, average income, holding an account with mobile money services, socio-professional category, type of employer are categories whose characteristics help define the profile of unbanked households in the Republic of Congo. Based on the results obtained, we can define the profile of an unbanked household in the Republic of Congo as follows: the unbanked Congolese household is most likely female, under 35 years of age, unmarried, does not have an account with mobile money services, is not a manager, works in the public sector and has an average income of less than 150,000 CFA francs. We recommend the public authorities to expand the device "payment of wages by bank account" to the private sector.
Nico Stoeckmann
Theoretical Economics Letters, Volume 12, pp 98-110; https://doi.org/10.4236/tel.2022.121006

Abstract:
Globalization and the international interdependence of states have reached their climax at the beginning of the 21st century. At the same time, growing inequalities between and within countries are leaving some behind. While a variety of models have sufficiently explained national divergence, international divergence still remains subject of numerous studies. This work contributes to the set of possible explanations for worldwide disparities by combining the ideas of classical growth theory with the gravity model of trade. The circular relations between GDP, trade flows and TFP then explain long term differences in the development of states. Resulting path dependencies thus can be explained by an International Innovation Spiral that continuously leads developed economies towards potential higher outputs while existing alongside national peculiarities. In this way, the importance of trade unions and the openness to international markets can be theoretically further substantiated.
Fabio Bragato Do Carmo, Vinícius Medeiros Magnani, Rafael Confetti Gatsios, Fabiano Guasti Lima
Theoretical Economics Letters, Volume 12, pp 195-215; https://doi.org/10.4236/tel.2022.121011

Abstract:
In the era of great informational quantity, the presence of technologies that assist in the extraction, transformation, and loading of data has become increasingly necessary. The term Big Data, usually used to describe this volume of information, requires the user to have knowledge of multiple tools such as Excel, VBA, SQL, Tableau, Python, Spark, AWS, and so on. In this context, the present work aims to study data extraction techniques using different methodologies. At the end of the work, a library of functions in the Python language will be made available that will deliver a compilation of stock price information available on the Yahoo Finance website as well as balance sheets from financial institutions released by Bacen. The main resource used will be Web Scraping, which is a method that aims to automate data collection via the web. Once the collection of functions has been structured, it will be made available for public enjoyment through the GitHub platform.
Yufei Gao
Theoretical Economics Letters, Volume 12, pp 518-529; https://doi.org/10.4236/tel.2022.122029

Abstract:
The aim of this report is to analyze the employment status of African immigrants in South Africa. It will look at the reasons behind a workers’ decision to emigrate, local reactions to migrant workers in South Africa, and the benefits and conflicts that result from these movements.
Kouadjo San Boris Bediakon, Kacou Firmin Croi, Kouadio Baudouin Koko, Aké Alex Declerc Boua
Theoretical Economics Letters, Volume 12, pp 52-75; https://doi.org/10.4236/tel.2022.121004

Abstract:
The purpose of this study is to analyze the wage gap between men and women in Côte d’Ivoire. More specifically, it aims to assess the main aspects of gender inequality in the functioning of the labor market in Côte d’Ivoire. The factors underlying the wage gap between men and women are examined empirically using the Oaxaca-Blinder decomposition method. The data used are from the 2016 National Survey on the Situation of Employment and the Informal Sector (ENSESI) among households. The results of the study show that, more 74.16% of the total wage gap remains unexplained by objective factors. In addition, wage inequality varies by socio-demographic characteristics (age, gender, education), employment setting (urban or rural), and by sector and employment status. Finally, the total wage gap is predominantly explained by age, work experience, socio-professional category (senior manager) and form of remuneration.
Jean-Paul Chavas, Mingcong Pan
Theoretical Economics Letters, Volume 12, pp 123-148; https://doi.org/10.4236/tel.2022.121008

Abstract:
This paper develops a joint analysis of efficiency and distributional issues in an economy in general equilibrium with a focus on bargaining under bounded rationality. Our analysis relies on evolutionary strategies based on the Nash-Harsanyi bargaining model, but we go beyond the Nash-Harsanyi model by generalizing it with ordinal preferences as well as allowing for inefficient bargaining agreements. We show that our evolutionary schemes converge to bargaining agreements under general conditions. The analysis covers the case where the bargaining agreement is inefficient as well as the case where the bargaining process converges to an efficient allocation located on the Pareto utility frontier. We show that the outcome of the bargaining process can be represented by the simple maximization of a “generalized Nash product”. We explore the implications of bargaining agreements for income distribution. Finally, we discuss our model’s insights in analyzing the performance of an economy, emphasizing the roles of preferences, decentralization, and public goods.
Charles Adusei, Jacob Bannerman
Theoretical Economics Letters, Volume 12, pp 498-517; https://doi.org/10.4236/tel.2022.122028

Abstract:
This study was conducted as a retrospective analysis of the determinants of Ghana’s Non-Performing Loans (NPLs) using historical time series annual data covering the period of 1998-2013 with an extension to 2019 on NPLs to Total Gross Loans (%). A rising NPLs in a bank portfolio is a pressing issue to bank managers and regulators. The ex-post facto research design was used for this study. Using the Seemingly Unrelated Regression model and Principal Component Analysis, the study found money supply, financial development, and macroeconomics variables to be significant determinants of NPL, except real income. NPL is a significant factor used by regulators to determine financial stability and bank asset quality. The study recommends policies targeted at influencing NPLs and the need for regulators to ensure good corporate governance by the banks to avoid bank failure.
Saibal Ghosh
Theoretical Economics Letters, Volume 12, pp 451-462; https://doi.org/10.4236/tel.2022.122025

Abstract:
Within a theoretical framework, the paper analyzes the impact of government intervention in the credit market on bank lending. The results indicate that in the short-run, a monetary expansion lowers lending that is not susceptible to political intervention by a magnitude that is higher than loans that are impacted by political influence. In the long run, a monetary expansion is observed to uniformly raise bank lending, consistent with the jawboning hypothesis.
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