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The Growth Effect of the Expansionary Monetary and Fiscal Policies Applied in the Periods When The Economies Shrank: Developed and Developing Countries Cases
Tugba Demirtas
DOI: 10.15604/ejss.2023.11.0304.001
Abstract
Expansionary policies are implemented in periods when economies shrink and are generally considered to have a positive effect on growth. However, the implemented policy set, as well as its composition, also determines the structural differences, development levels, and basic growth dynamics of economies. In this study, the effects of expansionary monetary and fiscal policies applied in developed and developing countries during periods of economic recession on growth are examined, considering basic growth dynamics, and the short- and long-term outlooks are analyzed. To measure the effectiveness of expansionary policy in developed and developing countries, 55 developed and 55 developing countries are studied. For each monetary and fiscal policy, the 2007-2009 period applications are taken into account, while the effects of the main growth variables are examined during the 2007-2016 period. The system GMM method is used in the panel to see the reflections of policy effectiveness on growth in the 10-year period. While the results reveal how structural differences in the two country groups affect the effectiveness of policies, they also show that monetary and fiscal policies have different effects on growth.
Keywords: Expansionary Monetary and Fiscal Policies, Growth, Developed and Developing Countries, Main Growth Dynamics
Cost of Renting the Earth
Shahzavar Karimzadi
DOI: 10.15604/ejss.2023.11.0304.002
Abstract
For many decades scientists have been warning that life on earth will not be sustainable for long the way we treat the earth. The collusion between humans and the earth has outpaced to a degree that it no longer can be left to blind chance. Complacency in tempering with the nature at the same pace could run out of control at any time. In those circumstances, the harms outdone to the environment could be irreversible. Stratospheric ozone depletion, pollution of air and water, soil erosion, deforestation, warming of the earth, and exploitation of depletable natural resources are not sustainable at this rate of decline. Conventional economics has played a significant role in vindicating the existing state of affairs. As already implied, the mainstream economics has not only paid no head to ecological degradation but has been the principal propellant of this creed. We rarely find a textbook in economics that does not begin with factors of production as the fundamental fabric of the economy. Land, labor, capital and entrepreneurship are purported to be the core components, the base elements, the building blocks of every economy. These constituents account for the blueprint of contemporary economic systems. The refraction of this doctrine through a prism of a critical eye unlocks the sophistry concealed in this way of thinking. In conventional economics, land is detached from the earth and downgraded to a basic factor of production. It is presumed that land as a factor of production delivers a service. For this, it is paid a rent. In short, the price of the earth amounts to the market rent. Adhering to such an outlook has many implications, one of which is turning a blind eye to the anthropomorphic impacts of climate change. The cost of such a conduct is more than economic. It is existential. The failure to come to grip with this trial and failing to restore land to its due place in economic reasoning is beyond measure. This is an erroneous outlook that we shall examine critically in this paper.
Keywords: Factors of Production, Economic Cost, Existential Cost, Mainstream Economics, Ecological Degradation, Climate Change
The Dimensions Of Memorable Marine Tourism Experiences
Altouise G. Jonas
DOI: 10.15604/ejss.2023.11.0304.003
Abstract
In a post COVID-19 era the tourism industry has been forced to adapt to a changing business world evident in the paradigmatic shifts in tourist behavior. The industry has been forced to transform in order to recover from the devastation caused by the pandemic. A strategy which could prove useful for the rejuvenation and the sustainability of the tourism industry is the provision of memorable experiences. Understanding the dimensions that contribute to memorable experiences is vital for the success of tourism businesses. Therefore, the aim of the study was to investigate which dimensions contribute to a memorable marine tourism experience (MMTE) in South Africa. The exploratory research design and mixed method approach were applied in the study. A total of 444 usable questionnaires were analyzed by means of descriptive and inferential statistics. The results indicate that eight dimensions positively relate to MMTEs. Hedonism is the most important dimension to increase the likelihood of shark-diving experiences being remembered. Whereas, five dimensions in particular (refreshment, social-interaction, meaningfulness, knowledge and novelty) will increase the memorability of whale-watching experiences, while an increase in delight will enhance the memorability of the experience for all three activities (whale-watching, shark-diving and visits to marine protected areas (MPAs). The results of the study are important for marine tourism businesses who want to stage memorable experiences, in order to meet the needs of their customers and to enhance the relevance and sustainability of their businesses.
Keywords: Memorable Tourism Experience, Marine Tourism, Delight, Shark-diving, Whale-Watching, Marine Protected Areas
Faculty Leadership Effects on Internationalization of Curriculum: An Exploration of a University Phenomenon
Joseph Kolawole Abon and Emmanuel Jean-Francois
DOI: 10.15604/ejss.2023.11.0304.004
Abstract
This study provides and delivers by notifying the glocal leadership approaches that faculty apply and exploit when internationalizing and integrating their curriculum to enable students to acquire glocal skills and capabilities. The study also made use of phenomenological processes to identify, acknowledge, and derive meaning from the faculty perceptions to value when internationalizing their curriculum. We elucidate how faculty transfer knowledge during classroom activities and various curriculum subject matters utilized to internationalize in classroom situations. Also, we used purposive sampling and snowballing with sample size grounded on the size of the sample, whereas the selection of participants comprised a purposeful selection of sixteen (16) faculty members. An open coding technique was used to recognize occasions in which interviewees’ perceived faculty glocal leadership skills positively affect internationalizing their curriculum. We implement a phenomenological qualitative single-case approach through individual interviews with open-ended questionnaires and document analysis to collect data. The sample engrossed only the tenured track and instructional faculty in internationalizing glocal leadership contents. Findings exposed that all participants described and clarified the ways they integrate diverse methods and pedagogies into their curriculum to impart to students. It also emphasizes how they reveal their experience through global-local practices and take advantage of available opportunities to make students obtain global-local experiences to augment internationalization.
Keywords:Leadership, Internationalization, Glocalization, Glocal-Skills, Curriculum, Faculty, Integrating
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