Suchergebnisse

Abstract. The present study proposes an alternative method to construct an index of globalization which is based on the principle of almost equi-marginal contributions (AEMC) or Shapley values of the constituent variables to the overall index rather than the correlation coefficients among the constituent variables and the overall index (the KOF index based on the principal component scores). This has been done by minimization of the Euclidean norm of the Shapley values of the constituent variables. As an exercise, secondary time series data (1970-2013) on the measures of globalization in three different dimensions (economic, social and political) of three economies (China, India and Pakistan) have been used. A comparison of the AEMC index with the KOF index reveals that while the former is more inclusive, the latter is more elitist in matters of inclusion of the weakly correlated constituent variables in the overall (composite) index. As a consequence, the AEMC index is more sensitive than the KOF index of globalization. Both indices capture the trends in globalization in the countries under study and are highly correlated between themselves. Thus, AEMC is an alternative or perhaps a better method to construct composite indices. Keywords. Globalization, KOF index, Equi-marginal, Shapley value, Global optimization, China, India, Pakistan.JEL. C43, C61, C71, F60, P52.

Abstract. In this study we have constructed a composite index of globalization of select Asian countries during 1970-2014 by minimizing the Euclidean norm of Shapley values of indicator variables contributing to the overall index. As a consequence, the mean expected marginal contributions of constituent variables to the overall index are approximately equal and thus, the overall composite index represents the constituent variables optimally. We call this index the Almost Equal Marginal Contribution (AEMC) index. We find that AEMC index and the KOF index of globalization are highly correlated (Pearson's r=0.982). We find that Singapore, Cyprus, Israel, Qatar, Malaysia, Jordan, Lebanon, Turkey, Kuwait, Bahrain and Japan have done very well and scored above 0.7. At the other end, Yemen, Tajikistan, Bangladesh, Bhutan, Iran, Nepal and Myanmar have scored below 0.5. Trends in globalization are increasing in general, but the rate of globalization, which accelerated after 1991, lost its momentum after 2007. Disparities in globalization, as measured by Gini coefficient over the countries under study, were more or less constant up to 1985 but after that they started declining. We have found that the index of globalization goes well with other socio-economic measures such as Economic Freedom Index, International Innovation Index, Social Progress Index, Human Development Index and Corruption Perception Index, showing high values of Kendall's Tau and Spearman's Rho. Its association with Democracy Index is rather weak but positive. It is almost uncorrelated with the Gender Gap Index. We observe, therefore, that globalization index is moving well with the indices of socio-economic condition in the Asian countries. Keywords. Globalization, Synthetic index, Asian countries, Shapley values, Equi-marginal contribution.JEL. C43, C71, F02, F60, O53.

Power is an important basic concept in Political Science and Economics. Applying an extended version of the uncertain dichotomous choice model proposed, the objective of this paper is to clarify the relationship between two different types of power a voter may have: skill-dependent (s-d) power and marginal contribution (mc). It is then shown that, under the optimal committee decision rule, inequality in skills may result in higher inequality of the two types of power and that the distribution of the second type of power (mc) can be even more unequal than the distribution of the first type of s-d power. Using simulations, and assuming evenly spread skills, this possibility is proved to be robust. The significance of the finding is due to the effect of power on reward, whether it is defined in terms of status or in terms of monetary payment.

SUMARIO Editorial. Chacón P., Galia B. Artículos Análisis cuantitativo y mejora de la calidad del costo de capital en las Pequeñas y Medianas Empresas (PYMES). Quantitative analysis and improvement of the quality of the cost of capital in small and medium sized companies. Altuve, José Germán La responsabilidad patronal frente a los infortunios en el trabajo. The supervisor responsibility front to the accidents in the work. Cabeza R., María Alejandra y Corredor, Edwin Universidad del Zulia: ¿insuficiencia o ineficiencia presupuestaria? University of Zulia: insufficiency or budgetary inefficiency? Díaz, Jazmín; Anniccharico, Elvira y Marín, Vanessa Hablando sobre teorías y modelos en las ciencias contables. On theories and models in accounting sciences. De Andrade, Gilberto Análisis de las metodologías fiscales y financieras para el ajuste por inflación establecidas en la ley de impuesto sobre la renta y la declaración de principios de contabilidad número 10. Analysis of the financial and fiscal methodologies established in the income tax law and the declaration of accounting principles number 10, referred to the adjustment by inflation. Molina, Victor H. La calidad del egresado: aspecto vital de la evaluación institucional. The quality of the graduates: vital aspect of the institutional evaluation. Monagas, Dulce ¿Cómo rinden cuentas las gobernaciones venezolanas? How do state governments render accounts in Venezuela? Montes de Oca, Yorberth; Ochoa, Haydée y Henríquez, Deyanira La productividad multifactorial y el crecimiento económico en Venezuela. Multifactorial productivity and economic growth in Venezuela. Mora M., José U. Sistema computarizado de análisis de contribución marginal. Computerized system of analysis of marginal contribution. Morillo Moreno, Marysela C. Gestión financiera y participación en el mercado de capitales a través del asesor de inversiones. Financial management and participation in capital market through the investments adviser. Pico, Gonzalo y Pulgar, Aidé Disponibilidad a pagar por un plan de conservación en la sub-cuenca del río Mucujún, Mérida - Venezuela. Conservation plan´s affordability in the sub-river basin of the river Mucujún, Mérida, Venezuela. Rodríguez, Ángel y Sánchez, José Miguel Gerencia basada en valor: la inclusión del costo financiero como un costo de oportunidad. Value-based management: including financing costs as opportunity costs. Vera, Mary Outsourcing y libre comercio: ¿dilema para Smith y Ricardo? Outsourcing and free trade: dilemma for Smith and Ricardo? Maldonado V., Fabio E. Índice acumulado de artículos publicados. ; 105-127 ; morillom@ula.ve ; semestral ; Nivel analítico

Overt ethnic conflict is frequently accompanied by the observation that the conflict is not essentially rooted in ethnic differences but is primarilyeconomic in origin. Examples are not hard to come by; it has been madein regard to the American Negro situation, the Catholics in NorthernIreland and the Ugandan Asians, to name but three instances. The claim that economic differences underlie ethnic conflict raises the questions of whether all interethnic conflict can be accounted for within the framework of a conflict theory of social stratification, and this in turn raises the broader question of whether all types of interethnic relations, of conflict and harmony, assimilation, integration, separatism and segregation can be subsumed under a more general theory of stratification.