世界経済・社会統計 = World development indicators

计量经济分析 = Econometric analysis

NUDGE: IMPROVING DECISIONS ABOUT HEALTH, WEALTH, AND HAPPINESS by Richard H. Thaler and Cass R. Sunstein Penguin Books, 2009, 312 pp, ISBN 978-0-14-311526-7This book is best described formally as a general explanation of and advocacy for libertarian paternalism, a term coined by the authors in earlier publications. Informally, it is about how leaders, systems, organizations, and governments can nudge people to do the things the nudgers want and need done for the betterment of the nudgees, or of society. It is paternalism in the sense that "it is legitimate for choice architects to try to influence people's behavior in order to make their lives longer, healthier, and better", (p. 5) It is libertarian in that "people should be free to do what they like - and to opt out of undesirable arrangements if they want to do so", (p. 5) The built-in possibility of opting out or making a different choice preserves freedom of choice even though people's behavior has been influenced by the nature of the presentation of the information or by the structure of the decisionmaking system. I had never heard of libertarian paternalism before reading this book, and I now find it fascinating.Written for a general audience, this book contains mostly social and behavioral science theory and models, but there is considerable discussion of structure and process that has roots in mathematical and quantitative modeling. One of the main applications of this social system is economic choice in investing, selecting and purchasing products and services, systems of taxes, banking (mortgages, borrowing, savings), and retirement systems. Other quantitative social choice systems discussed include environmental effects, health care plans, gambling, and organ donations. Softer issues that are also subject to a nudge-based approach are marriage, education, eating, drinking, smoking, influence, spread of information, and politics. There is something in this book for everyone.The basis for this libertarian paternalism concept is in the social theory called "science of choice", the study of the design and implementation of influence systems on various kinds of people. The terms Econs and Humans, are used to refer to people with either considerable or little rational decision-making talent, respectively. The various libertarian paternalism concepts and systems presented are tested and compared in light of these two types of people. Two foundational issues that this book has in common with another book, Network of Echoes: Imitation, Innovation and Invisible Leaders, that was also reviewed for this issue of the Journal are that 1 ) there are two modes of thinking (or components of the brain) - an automatic (intuitive) process and a reflective (rational) process and 2) the need for conformity and the desire for imitation are powerful forces in human behavior. …

Nudge: Improving Decisions about Health, Wealth, and Happiness

\"What are your assumptions (implicit as well as explicit) about the most effective way to manage people?\" So began Douglas McGregor in this 1960 management classic. It was a seemingly simple question he asked, yet it led to a fundamental revolution in management. Today, with the rise of the global economy, the information revolution, and the growth of knowledge-driven work, McGregor's simple but provocative question continues to resonate-perhaps more powerfully than ever before. Heralded as one of the most important pieces of management literature ever written, a touchstone for scholars and a handbook for practitioners, The Human Side of Enterprise continues to receive the highest accolades nearly half a century after its initial publication. Influencing such major management gurus such as Peter Drucker and Warren Bennis, McGregor's revolutionary Theory Y-which contends that individuals are self-motivated and self-directed-and Theory X-in which employees must be commanded and controlled-has been widely taught in business schools, industrial relations schools, psychology departments, and professional development seminars for over four decades. In this special annotated edition of the worldwide management classic, Joel Cutcher-Gershenfeld, Senior Research Scientist in MIT's Sloan School of Management and Engineering Systems Division, shows us how today's leaders have successfully incorporated McGregor's methods into modern management styles and practices. The added quotes and commentary bring the content right into today's debates and business models. Now more than ever, the timeless wisdom of Douglas McGregor can light the path towards a management style that nurtures leadership capability, creates effective teams, ensures internal alignment, achieves high performance, and cultivates an authentic, value-driven workplace--lessons we all need to learn as we make our way in this brave new world of the 21st century.

The Human Side of Enterprise.

https://cws.journals.yorku.ca/index.php/cws/article/download/14795/13847

Men and Women of the Corporation

Abstract This study investigates the effect of pension funds (PF) and institutional quality (IQ) on capital market development in 48 African countries. Using a system GMM regression, the study found that the interaction between PF and IQ significantly negatively affects capital market development. The results of the study suggest that PF in Africa contributes positively to overall financial development, and pension fund managers (PFM) seem to be focusing more on other financial market assets than capital markets. It was concluded that IQ may act as a risk management tool. It is therefore recommended that policies on strong IQ should be put in place to enable fund managers to meet their obligations towards the principal (contributor) during retirement. The study recommends that policymakers should integrate the capital markets by ensuring the cross-listing of some of the national exchanges and cross-border investment and also encourage investments in alternative asset classes.

https://doi.org/10.1080/23322039.2023.2172809

Pension funds and capital market development in Africa: The role of institutional quality

Abstract Africa is one of the continents with the least inclusive finance. However, with increasing use of mobile phones for financial services or financial technology (Fintech), there are improved opportunities to ‘bank the unbanked”. Also, there is a significant increase in both the presence of foreign banks and Fintech usage. Hence, we examine the moderating role of foreign bank presence on the Fintech-inclusive finance nexus over the period, 2000–2018. The results show that foreign bank presence does not directly affect inclusive finance, but increases the link between Fintech and inclusive finance. We recommend that African countries need to provide the conducive environment improving the use of Fintech.

https://doi.org/10.1080/23322039.2022.2157120

Fintech, foreign bank presence and inclusive finance in Africa: Using a quantile regression approach

Asset-Liability Management: Interest Rate Risks, Maturity and Duration Gaps

Access to finance has been identified as a dominant constraint facing the Ghanaian Small and Medium Enterprises (SME) sector. This study examines how the finance gap for SMEs might be addressed by means of policies to support other financing initiatives other than commercial finance by the conventional financial institutions. This study through a questionnaire survey investigates the awareness and use of these various financing schemes (quasi-commercial credit) available to the SME sector. The study also ascertains the difficulties SMEs encounter in accessing these financing sources. The results of the study reveal low awareness and usage levels of the various financing initiatives among SMEs. Most of the schemes are perceived as difficult to access. A number of specific action areas have been identified for proactive public policy for small business finance in Ghana.

Joshua Abor

Papers

Pension funds and capital market development in Africa: The role of institutional quality

Fintech, foreign bank presence and inclusive finance in Africa: Using a quantile regression approach

Asset-Liability Management: Interest Rate Risks, Maturity and Duration Gaps

Business Financing Initiatives in Ghana”

The effects of foreign bank presence on financial development in Africa: The role of institutional quality