Economic Perspective Research Articles

Research on the Causes of the International Financial Crisis and Its Impact on the Stock Market: An Analysis Based on the Subprime Crisis

The subprime crisis is widely recognized as the most extensive and impactful financial crisis since the 21st century. The stock market at that time was the most affected area. This article uses the PEST analysis framework, examining the subprime crisis from political, economic, social, and technological perspectives to understand how the stock market was affected and what were the main causes. Based on the study, it can be concluded that the main political cause of the subprime crisis was the Federal Reserves missteps in policy. The primary economic causes were the lowering of borrowing thresholds and the bursting of the housing bubble. Lack of risk awareness among American investors was a significant social factor contributing to the crisis. The technical shortcomings of subprime financial products were also a critical factor. The impact of the subprime crisis was multi-faceted. Politically, it led to a decline in social credibility for the US government. Economically, it resulted in the rise of economic protectionism and catch-up economies. Socially, it contributed to high youth unemployment and increased essential spending for low-income families. Technologically, the subprime crisis accelerated the development of the fourth industrial revolution.

Aesthetic Standards and Body Anxiety: Womens Self-perception in the Internet Age

With the rapid development of the Internet, people can acquire not only academic knowledge but also life skills such as makeup and photography. However, while providing rich resources, the Internet also has potential negative impacts on mental health. Particularly, in the context of the prevalence of a single aesthetic standard, such as "white, thin, and young." Adolescents, especially women, are easily influenced by unhealthy aesthetic concepts, which may lead to psychological problems like dieting behavior and body anxiety. This paper explores the causes of body anxiety from economic and sociocultural perspectives and analyzes the role of women's self-awareness awakening in shaping body cognition. By studying Internet aesthetic culture and its impact on adolescent groups, it is found that modern consumerism and the "perfect body" phenomenon promoted by online platforms have intensified the pursuit of ideal bodies, thus leading to body anxiety problems, which are particularly significant in female groups. However, as women's self-awareness gradually awakens, more and more women have begun to reflect on traditional body standards and advocate body diversity and self-identity. This study has important practical significance. Through an in-depth analysis of the causes of body anxiety, it aims to draw societys attention to the spread of bad aesthetic concepts, provide theoretical support for formulating relevant intervention policies and guiding measures, and promote the formation of a healthier aesthetic culture and social environment.

Social Media as a New Arena of Power in Indonesia: A Political Economy Perspective in the Digital Platform Era

Social Media as a New Arena of Power in Indonesia: A Political Economy Perspective in the Digital Platform Era

Law and Economics in Japan’s Courts: Emerging Trends and Developments

Abstract This article briefly reviews the emerging trends of incorporating law and economics perspectives within the Japanese judiciary. In the first part, I review opinions of Justice Koichi Kusano, the first justice in the history of the Supreme Court to adopt law and economics approaches. In particular, I discuss his two key approaches: the maximization of well-being and the use of quantitative empirical analysis. In the second part, I explore the broader judiciary context, including transformations in the Supreme Court’s majority opinions and the practices of lower courts and lawyers. Specifically, I highlight the Supreme Court’s growing emphasis on empirical data, particularly concerning social circumstances and public attitudes. Additionally, I analyze the subsequent shift in lawyers’ practices, which increasingly include the submission of survey data and statistical evidence. I also present emerging trends in the annual number of court decisions that reference regression analysis.

KRITIK SASTRA FEMINISME RADIKAL DALAM NOVEL PEREMPUAN YANG MENUNGGU DI LORONG MENUJU LAUT KARYA DIAN PURNOMO

This study aims to describe the forms of resistance of female characters in the novel Perempuan yang Menunggu di Lorong Menuju Laut by Dian Purnomo using the framework of feminism literary criticism the women as a reader with Kate Millet's radical feminism analysis theory. The researcher used a case study strategy and note-taking technique in data collection. Data analysis used descriptive qualitative techniques. The results showed that there are seven forms of resistance of female characters from Kate Millet's eight perspectives of radical feminism which include, ideological perspective, biological perspective, sociological perspective, educational and economic perspective, and psychological perspective.

The Role of Soil Health in Enhancing Agricultural Profitability: An Economic Perspective

This paper also demonstrates that the health of the soil is central to improving the profitability of agricultural enterprises in economic terms. Hence, sustainable agriculture practices like conservation tillage and other compatible practices, organic farming and more techniques like vermicomposting and biochar application etc. have become inevitable in the Indian Scenario for maintaining resilience of the soil and for enhancing productivity. Out of the Government of India’s Soil Health Card launched in 2015, one can see how the use of soil test-based fertilizers is greatly encouraged, improving further the profitability of agriculture. Such as in Andhra Pradesh, evaluating various aspects of the enhanced method of monitoring of soil health and its parameters reveals promising results which have a positive impact on the state’s agriculture and farmers. A study identifies reduction in minimum soil tillage, retention of crop residue, and differential nitrogen replacement on the yield and profitability of crops. Moreover, initiatives like Agrivoltaics have started to surface in the effective management of Climate Smart Agriculture in diverse climates and uncertain monsoons. Signing legislation and applying the concepts of the market incentive affect the improvement of the soil quality for the enhancement of sustainable agricultural production and income. When such practices are adopted, the Indian farmers and the country in general will be in a better position to improve fertility of the soils, increasing crop yields and equally resulting to better positioned economic stability to the backbone of the economy the agricultural industry.

Reconstructed Southeastern European Identities in the Tourist Western World: Phenomenological Research

The article analyzes the experiences of modern Southeastern Europeans regarding social and economic mobility in Western tourist areas. It aims to investigate Southeastern European seasonal workers who have not remained silent, even after their visas expired in developed countries. This study seeks to understand how these Southeastern European identities are constructed while working as immigrant students, conceptualizing language learning, and contributing as multicultural members in a service-oriented tourist society. In higher education, within a democratic paradigm, the content of ethnographic and global sociolinguistic literature is supported by cultural capital, where constructed identities are understood from a critical perspective. This study uses qualitative data underpinning Husserl’s phenomenology. Qualitative methods include interview protocols, ethnographic observations, and individual narratives. Overarching themes from seven semi-experienced individuals in Southeastern Europe who faced accountability, intercultural adaptation, and educational integration reflect the progressive education that evolved from home to the new tourist world abroad. The findings revealed three main themes: individual acculturation, evolved identity view, and social incisiveness in a multicultural society. Furthermore, Southeastern European immigration rises daily and collaboratively, opening new global perspectives in educational policies, global citizenship education, and social justice curricula within the hospitality industry, where tourists' identities seek protection for their initial Western jobs. These findings suggest that, through an experiential curriculum, ESL learners integrate Southeastern potential tourist workers and become students to understand social and economic perspectives while incorporating them into corporate higher education. The implications contemplate how tourist identity is formed, transformed, and plays a significant role in modern society, with limited potential in the Western tourist world. The policy challenges of higher education for immigrants, such as those from Southeastern Europe affected by the brain drain phenomenon, emphasize social injustice, language barriers, and cultural anxiety. Therefore, higher education policy acknowledges this vulnerable group of Southeastern individuals and creates educational pathways for social and emotional support.

Some correlations between interest and willingness to pay

This article delves into the causes of the 2008 financial crisis, particularly focusing on its inception marked by the collapse of the mortgage market, which cascaded into the bankruptcy of numerous banks. The crisis stemmed from volatile real estate prices, leading to loans being issued to borrowers without sufficient collateral, exacerbating insolvency. In Hungary, the situation was exacerbated as most housing loans were denominated in Swiss francs, causing repayment obligations to soar due to rapid fluctuations in the exchange rate. State intervention became imperative amidst rising insolvency rates. Motivated by a longstanding interest in the economic ramifications of low interest rates, the authors aim to probe the factors influencing loan repayment motivations. Their research centers on the evolution and functions of state interest rate regulation, while also scrutinizing late fees and interest provisions related to tax and civil law claims to evaluate their impact on timely payments. Embracing an interdisciplinary approach blending historical, economic, and legal perspectives, the article underscores the necessity for well-calibrated regulatory interventions to mitigate the excesses of unrestricted free markets, especially in light of evolving global economic dynamics. It also underscores the importance of prudent regulations, given theories suggesting that persistently low interest rates may lead to economic distortions beyond a certain threshold, while acknowledging the constraints of interest rate adjustments.

The education-to-work transition: a systematic analysis of pedagogical interventions in the context of higher education

ABSTRACT Higher education has implemented various pedagogical interventions to increase connectivity with the workplace and ease students’ education-to-work transition. However, the effectiveness and underlying mechanisms of these interventions in supporting students with this transition remains largely unexplained. The present review article analyzed 49 articles bringing together two theoretical frameworks on this transition: connectivity and boundary crossing. Results show that connectivity can be increased by collaborating with the workplace in several ways. However, our results also show that higher education seldom learns from this collaboration, resulting in a lack of effective boundary practices to support students in their education-to-work transition. On top of that, our research demonstrates the importance of assessing the effectiveness of any of these interventions from both a student and a labor economics perspective.

The Rise of the Cotton Monopoly of Himeji Domain and its Historical Significance: A Comprehensive Study

Many researchers have explored the cotton monopoly system of the Himeji Domain. Traditional research on this and other monopoly systems typically takes an economic history perspective. An important historical point is how the monopoly system came to be, and this is yet to be clarified. A team of researchers led by Associate Professor Yoshihiro Yamasaki at the School of Motivation and Behavioural Science at Tokyo Future University in Japan is investigating in detail how the cotton monopoly system was established, with a focus on the officials who led the cotton monopoly system into reality in local communities. The expectation is that this research will enrich studies on monopoly systems in other domains, filling gaps in knowledge and understanding. In the Edo period, under monopoly systems, feudal domains monopolised the production and sale of specific products to overcome financial difficulties. The domains purchased and sold all the products produced within their territories, and the profits were used as income for the domains. This was also the case with the Himeji domain’s monopoly system. Monopoly systems were largely implemented as part of the reforms of domain government in the mid-to-late Edo period. Yamasaki believes the monopoly system was an economic policy and that understanding the historical significance requires consideration from a political standpoint. Yamasaki elected to analyse the cotton monopoly system, developed by the Himeji domain as the policy body, from a multifaceted perspective, focusing on the standpoint of not only economic history but also political history as well as regional history.

Climate Change and Just Energy-Agrifood Transition: A View from Southeast Asia

ABSTRACT Discussions about just renewable energy transition tend to focus on helping workers in the energy sector and on creating decent and green jobs. However, given the close interconnections between climate change, inequality, energy transition and the agrifood sector, this article argues that the conceptualisation of just energy transition should be extended to “just energy-agrifood transition”, such that not only principles pertaining to energy justice but also to agrarian justice are considered in a comprehensive manner. From a political ecology and critical political economy perspective, and by drawing on examples from Southeast Asia, the article additionally proposes broad policy guidelines to help advance just energy-agrifood transition. This includes the promotion of universal access to energy and food, technical solutions embedded with progressive socio-economic goals, measures to address negative socio-environmental consequences of food-energy transitions, more egalitarian distribution of green jobs and productive resources, and ground-up approaches to socio-ecologically sustainable agrifood systems.

Postcards from Italy – The Art of Controlling Images of Cultural Goods Better Than Copyright Could

Abstract Italian provisions on images of cultural goods may be reminiscent of copyright, in particular because they allow production and uses of such reproductions upon an authorisation, they impose fees for creating or exploiting them, and point out to the notion of integrity. However, the two sets of rules remain independent and autonomous, with a different purpose, subject matter and constitutional ground. National provisions are designed and interpreted in such a way that their outreach is broader than copyright. Therefore, they introduce a para- or quasi-copyright system, i.e. rules that are not necessarily accountable to third parties, affecting in this way the producers, users and reusers of potential images, as well as the material that is supposed to stay in the public domain. This is the main reason why it is crucial to study their legitimacy. This work studies Arts. 106–108 of the Italian Code on Cultural Goods and Landscape (ICCGL) limiting the ability to reproduce cultural goods, including when they embed a work of art, and this even when the latter is in the public domain. It explains why these written rules, based on a public property paradigm, may be criticized in a political and economic perspective, but are still compliant with higher norms, including EU rules on copyright and open data. In addition to that, the paper analyses the case law related to these provisions, it focuses in particular on the personality right on cultural good emerged in recent cases, and it explains why this prerogative raises concerns as to its consistency and compliance with higher norms. Finally, the article explains why a potential extraterritorial outreach of the provisions on images of cultural goods, as stated by an Italian Court, has to be challenged in different perspectives. It also clarifies costs and benefits of this solution, concluding on the operational implications on market operators and on the principle of non-discrimination.

Analysis of financial convergence between the BRICS and OECD countries.

Financial convergence is a process for establishing a relationship among the financial markets of different countries; as a result of such process the rates of similar financial assets in different markets and countries become very close to each other. Some factors might create financial convergence. of which the trade and international capital flows among countries, the presence of banks and other financial institutions in the international arena, the availability of clear and accurate information of markets and financial organizations, and the existence of similar infrastructure and their characteristics from economic, legal and cultural perspectives can be mentioned. The issue of financial convergence with the aim of achieving global financial markets and taking advantage of its capabilities and characteristics would be very important for all countries, especially the emerging countries. This study examines financial convergence in the money and capital markets of the Organization for Economic Co-operation and Development (OECD) and BRICS countries in the period of 2007-2020. The study utilizes the Panel Convergence Methodology and Cluster Analysis (Philips and Sul methodology) along with a clustering algorithm. The findings indicate a lack of overall convergence between OECD and BRICS countries in both financial markets (money and capital) this is due to the lack of similar economic infrastructure, differences in the size of the economy, and variations in trade, financial and monetary freedom indicators, trade relations, and capital transfers. The cluster test in the money market confirms the existence of 3 convergence clubs among the studied countries. The convergence of emerging BRICS countries in the money market, with a large number of OECD developed countries, is a confirmation of the development of their banking sector in the recent years. On the other hand, the capital market survey also shows the presence of 5 convergence clubs between OECD and BRICS countries. Besides, it's been shown that South Africa, along with Lithuania, Turkey, Slovakia and Latvia, has established a divergent group.

The cost-effectiveness of vaccination against COVID-19 illness during the initial year of vaccination.

Substantial investments by government programs and private health plans subsidized the costs of COVID-19 vaccine doses and vaccine administration. The objective of this study was to evaluate the cost-effectiveness of vaccination against COVID-19 illness during the initial year of COVID-19 vaccination (2021). Using a simulation model, we projected outcomes for hypothetical cohorts of US adults aged 18 and older, stratified by age and risk status for complications, comparing vaccination and no vaccination in the context of recommended concomitant prevention strategies (e.g., masking, social distancing). Vaccination against COVID-19 illness and complications used a pooled vaccination strategy for the 3 products available in 2021. Primary outcome measures included incremental cost-effectiveness ratio (ICER), projected costs, and projected quality-adjusted life years (QALYs). The model was parameterized using US epidemiologic, clinical, and cost data and the analysis used the healthcare and societal perspectives. For vaccination against COVID-19 illness compared with no vaccination, vaccination yielded cost savings and QALY gains for all adult age and risk groups using the societal perspective. Using a healthcare sector perspective, ages 18-39years required a net investment with ICERs ranging from $8400 to $15,000/QALY. Scenarios evaluating vaccine incentive programs mostly yielded ICERs <$100,000/QALY except for worker bonuses of $500 which yielded ICERs of $22,000 to $134,000/QALY. Results were most sensitive to costs of vaccination (dose cost, administration cost, travel and vaccination time costs) across uncertainty analyses. Investment in the 2021 vaccination program was attractive from an economic perspective even when using a very conservative approach to the analysis. Future vaccination programs in the US, with different associated cost structures, should be assessed to ensure ongoing value for COVID-19 vaccination.

Firearm ownership and suicide: Has the time come to discuss uniformity of health and social assessments in aid of regulation? Reflection from a retrospective study on a forensic case series.

Firearm-related deaths are an issue of ongoing public interest, from a health and economic perspective. Worldwide, firearm prevalence in suicides varies widely, depending on multiple factors including the availability of weapons in each country. Although several studies have shown that national laws about gun ownership, reducing legal access to guns, decrease the risk of suicide by firearm, the current situation clashes with widely differing legislations. Retrospective study on a forensic case series. Autopsy reports assessed at the Section of Legal Medicine of Milan (Italy) from January 2014 to December 2023 were retrospectively documented. Only firearm suicides were considered. For each case, a close analysis of the criminal offence reports has been performed to obtain information about the gender and age of the victim, as well as the legal possession of firearms, psychiatric disorders, alcohol, and illicit drug abuse. Among all the 1,164 suicides assessed at the Section of Legal Medicine of Milan over a 10-year-period, 101 cases (8.7%) were firearm-related. The male to female ratio was therefore about 13:1. No seasonal trends were observed. Most of the individuals owned the firearm license. Of the entire dataset, 35.6% suffered from psychiatric disorders, 4% of alcohol abuse and 2% of drug addiction. Among the owners of a firearm license, 42.3% had psychiatric disorders. Knowledge about firearm suicide and its relation to firearm legal possession is limited and current preventive laws should be reconsidered. Present administrative and clinical examinations required to obtain a firearm license in Italy and in some European territories are dealt with. The evaluation of the firearm-related risk of abuse is an essential but complex procedure, which requires not only clinic-anamnestic data but also in-deep psychiatric information. There is a need to develop and reinvigorate a debate that currently presents very heterogeneous solutions, but which would probably benefit from a common vision of the prevention strategies that can be implemented and enacted for the benefit of the entire community.

Cold solar: PVT heat exchanger designs for heat pump integration

Cold solar: PVT heat exchanger designs for heat pump integration

Economic Perspectives on Groundwater Conservation: Insights from Farmers in Western Uttar Pradesh, India

Economic Perspectives on Groundwater Conservation: Insights from Farmers in Western Uttar Pradesh, India

Beneficial use of dimensional stone industry wastes in geotechnical fills: Geotechnical, environmental and economic perspectives

Beneficial use of dimensional stone industry wastes in geotechnical fills: Geotechnical, environmental and economic perspectives

Energy, Exergy, Economic and Exergoeconomic (4E) Analysis of a High-Temperature Liquid CO2 Energy Storage System: Dual-Stage Thermal Energy Storage for Performance Enhancement

Energy, Exergy, Economic and Exergoeconomic (4E) Analysis of a High-Temperature Liquid CO2 Energy Storage System: Dual-Stage Thermal Energy Storage for Performance Enhancement

Ecological rule of law and enterprise green innovation - Evidence from China's environmental courts.

Strengthening the rule of law is the cornerstone of ecological environmental protection. In the context of sustainable development, countries generally recognize the key role of the legal system in the protection of the ecological environment. Based on the perspectives of management, economics, and jurisprudence, this paper explores the impact and internal mechanism of the ecological legal system represented by the environmental protection court on the green innovation of enterprises. The study revealed that the ecological rule of law elevates enterprises' green innovation. The cost of environmental investment and enterprise strategy adjustment both reinforce the impact of the ecological rule of law on enterprises' green innovation. In the external environment of enterprises, the ecological rule of law on enterprises' green innovation has a more pronounced influence when Officials' appraisal pressure is high, and both the public and the government attach great importance to the environment. Within the internal environment of the enterprise, the ecological rule of law exerts a weaker force on the green innovation of the enterprise when the executives possess a low level of education, exhibits weak environmental awareness, and has a low shareholding ratio. The outcomes of this study might offer valuable insights for policymakers and enterprise managers in implementing environmental policies and in planning long-term green innovation for enterprises. Contribute to the strengthening of the legal system for ecological environmental protection in all countries.