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Vol.5 No.2
June 2017

 Page Number

 Article Information

1-11

Sources of Economic Growth from Demand-Side

Merter Mert

DOI: 10.15604/ejss.2017.05.02.001

Abstract

Sources of economic growth can be explained both from supply-side and demand-side. Supply-side explanation, firstly, calculates contribution of input growth to output growth, and then remaining part of the output growth is admitted as growth rate of technology. Similarly, after calculating contributions of domestic demand and foreign demand, growth rate of technology which is motivated by domestic and foreign demand growth can be calculated. In this study, sources of growth from demand-side are calculated for China for 1972 and 2012. According to the results, growth is completely stemmed from domestic demand growth and technological progress, which is motivated by domestic demand. Since economic growth is motivated by domestic demand, then, macroeconomic policy should focus on domestic demand.

Keywords: Economic Growth, Sources of Growth, Domestic Demand, Foreign Demand

12-17

Dynamic Hybrids under Solvency II: Risk Analysis and Modification Possibilities

Christian Maier and Oliver Seger

DOI: 10.15604/ejss.2017.05.02.002

Abstract

In this study, we investigate the new and standardized European system of supervisory called Solvency II. In essence, asymmetric distribution of information between policyholder and insurer triggered this new regulation which aims at better protecting policyholders. Its three-pillar model is about to challenge both, insurers as well as policyholders. The first pillar includes quantitative aspects, the second pillar contains qualitative aspects and the third pillar comprises market transparency and reporting obligations. Underwriting risks, the default risk of a bank and market risks can be identified for the dynamic hybrid. Solvency II covers all these risks in the first pillar and insurers shall deposit sufficient risk-bearing capital. In our analysis, we first identify the dynamic hybrid specific risks under the Solvency II regime und then develop product modifications to reduce this risk.

Keywords: Dynamic Hybrids, Solvency II, Risk Analysis, Reallocation Process, Solvency Capital Requirement, Collateral, Modification

18-24

Inhuman Human Nature: Lois Lowry’s The Giver

Oznur Cengiz

DOI: 10.15604/ejss.2017.05.02.003

Abstract

Lois Lowry (1937-    ) is a prolific author having a number of books – Number the Stars (1989), Gathering Blue (2000), and Messenger (2004) – and awards especially in the field of children’s literature. Her significant science fiction novel, The Giver (1993), presents a social panorama in order to thoroughly analyze the society’s mechanical life style. As an example of dystopia, the author delineates a systematically organized social order where people abide by the rules naturally. Nevertheless, Jonas, the protagonist and Receiver of Memory, is the first person to discern robotic/mechanical order in the society which is transformed into “sameness” eliminating all individual differences and emotions such as pain, happiness, cold, colors, and so on. Therefore, Receiver of Memory storing past memories of the society is the only one who is aware of human characteristics. The crucial point is that human figure, far from the current one, displays inhuman (non-human) features without memories and hope. Mechanical association between individuals and social structure ascertains artificial form of life in which there is no chance to choose. After learning truths behind the strict order, Jonas is in pursuit of real world with all kinds of feelings; however, his recognition is not able to change the whole society. Hence, this paper aims at delving into the relationship between human nature and society with regard to posthuman approach and inhuman human form in accordance with transformation of human nature.   

Keywords: Dystopia, Memory, Inhuman, Transformation, Posthumanism

25-33

Family Reintegration on the Street Children of Ivory Coast: A Case Study of Abidjan’s Center Hope

Kouassi Joseph Tano, Qiu Yun Sun, and Teya Kouame

DOI: 10.15604/ejss.2017.05.02.004

Abstract

Street children are among the most physically visible of all children, live and work on roads and public squares of cities all over the world. Yet, paradoxically, they are also among the most ‘invisible’ and therefore hardest children to reach with vital services such as education and health-care, and the most difficult to protect. Today, it seems forming integral part of the daily newspapers of any company. The phenomenon of street children is becoming a huge problem, which presents much diversity of a country to another and of a city to another. In all the countries including the Ivory Coast, the child occupies an important place. On the level of the system family for example, it represents the social security. It is by the child that the line remains from generation to generation. The main goal of this study is not only to show the scale of this phenomenon in the cities and the factors being attached to it, but also to present the obstacles related to the policy of reintegration like a credible alternative with the problem of children on the street. The assumption of research, which emerges is the following: The family reintegration of children on the street. The International Catholic office of Childhood function is not a conciliation of family realities to those of the rescue project.

Keywords: Insertion, Family, Social Reintegration, Child on the Street

34-52

Valuing the Chinese Reimbursement System of the Retirement Pension Insurance for Urban Employees

Yue Guo, Lailei Lou, Tailai Guo, and Zuwei Yu

DOI: 10.15604/ejss.2017.05.02.005

Abstract

This study investigates the funding and implementation of China’s reformed pension system, particularly the impact of population aging on the system and the government’s recessive debt on pensions. We performed a literature review of relevant publications on the pension system in China as well as similar systems abroad. We also performed an in-depth analysis of the pension insurance fund in China’s Zhejiang province, based on available data from 2001 through 2014. Using a time series ARIMA forecasting model and a comprehensive prediction model, in conjunction with theories from economics, statistics and sociology, we tried to establish the implicit pension debt (IPD) for Zhejiang and determine the pension payment feasibility for the next 15 years. We use our findings to explain the current problems with the pension system in Zhejiang and offer suggestions for improvement.

Keywords: Retirement Pension Insurance, Recessive Debt, Payment

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