Issue 1 (March)

Vol. 3 (2024), EAL

8 articles

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Open Access Journal Article
Is democracy affecting the economic policy responses to COVID-19? A cross-country analysis
by João Ricardo Costa Filho  and  António Neto
EAL  2024, 44; 3(1), 44; 10.58567/eal03010001 - 15 March 2024
How does democracy relate to the initial economic policy responses to Covid-19? Using a cross country analysis, we find that countries with a higher degree of democracy have stronger economic policy responses than their peers. However, when we separate monetary and financial policies from fiscal policy, democracy is not associated with the latter when we control for the income [...] Read more

Open Access Journal Article
Greasing the revolving door: foreign aid, governance, and private capital flows
by Ugochukwu Anyanwu  and  Amarachukwu Anyanwu
EAL  2024, 45; 3(1), 45; 10.58567/eal03010002 - 15 March 2024
There is a considerable amount of debate on the impact of capital liberalization on economic performance. Using Three-Stage Least Squares (3SLS) estimation technique introduced by Zellner and Theil (1962), we synthesize studies on the determinants of governance and capital flows. We find evidence of a revolving door relationship. Foreign aid has a negative impact on governance [...] Read more

Open Access Journal Article
Estimating the dynamics of fiscal financing in emerging economies
by Krastina Dzhambova
EAL  2024, 46; 3(1), 46; 10.58567/eal03010003 - 15 March 2024
I present a theoretical model and an empirical approach for jointly estimating the effectiveness of fiscal policy and the stochastic process of sovereign interest rate shocks. The theoretical model has features relevant to small open and emerging economies. Interest rate shocks affect the ability of firms to finance payroll expenses. This theoretical feature creates a propagati [...] Read more

Open Access Journal Article
The effects of Energy Performance Certificates in energy poverty: A brief overview
by Inês Carrilho Nunes  and  Margarida Catalão Lopes
EAL  2024, 47; 3(1), 47; 10.58567/eal03010004 - 15 March 2024
Energy Performance Certificates are a key tool for achieving energy efficiency in the building sector. The existence of this type of legislation provides incentives for the energy renovation of buildings, increases energy-efficiency investments, and improves social welfare. At the same time, informational asymmetries are mitigated and energy consumption is reduced. However, the [...] Read more

Open Access Journal Article
Divergences among ESG rating systems: Evidence from financial indexes
by Conghao Zhu  and  Cunyi Yang
EAL  2024, 48; 3(1), 48; 10.58567/eal03010006 - 15 March 2024
This paper specifically underscores the disparities among various ESG rating systems in China, highlighting their varied interpretations and emphasis on corporate financial factors. Analyzing data on Chinese listed firms from 2009-2022, we observe that while company size and leverage ratio uniformly correlate with ESG scores across rating agencies such as Bloomberg, Huazheng, W [...] Read more

Open Access Journal Article
Taxes and social instability: How large corporations and wealthy taxpayers hide taxable money?
by Miaba Louise Lompo  and  Marie Madeleine Ouoba
EAL  2024, 49; 3(1), 49; 10.58567/eal03010005 - 15 March 2024
Non-compliance with tax obligations, particularly by wealthy taxpayers and large corporations, continues to represent a source of social injustice that fuels social instability, especially in developing countries. Understanding the strategies of tax evasion and avoidance is of critical importance. This article highlights five main strategies used by large corporations and wealt [...] Read more

Open Access Journal Article
Access to and use of financial services in ECOWAS countries: Is mobile money closing the gender gap?
by Aristide Bonsdaouêndé Valea
EAL  2024, 50; 3(1), 50; 10.58567/eal03010007 - 15 March 2024
This paper deals with the gender gap in accessing and using financial services provided by mobile money and financial institutions. Using data from ECOWAS member countries, we applied the Fairlie decomposition method to estimate and decompose the gender gap. The results show that mobile money contributes to improving of the use of services compared to financial institutions. Ho [...] Read more

Open Access Journal Article
Navigating the Confluence of Inequality and STEM Equity: An Australian Perspective
by Alicia Liu , Safdar Khan  and  Alexandra Bec
EAL  2024, 51; 3(1), 51; 10.58567/eal03010008 - 15 March 2024
This study underscores the chronic issue of gender pay disparity that prevails across different STEM fields and educational qualification levels in Australia. Despite instances where women's incomes may align or even surpass men's, the broader pattern of inequality remains undeniable. The study advocates for targeted strategies to address gender pay gaps, particularly in fields [...] Read more
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