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Studies and researches
Vol. 14 Issue 1 - 6/2022
Female Labour Force Participation and the Economic Development in Egypt
Economic literature highlights the vital role that women can play in enhancing the economic development of nations. However, there is still gender inequality in developing countries, especially in education and labour market participation. Although women represent nearly half of the population in Egypt, their labour force participation rate is still very low compared to men. This paper's primary goal is to investigate the short and long-run associations between female labour force participation and Egypt's GDP growth rate. The study used annual time series data from 1990-2019, where the vector error correction model (VECM) was employed. The study found that female labour force participation and the gross fixed capital formation growth rate can enhance the GDP growth rate in the long run. Nevertheless, there is no statistically significant relationship in the short run. This paper's main recommendations are that the Egyptian government needs to implement policies that encourage women's labour force participation and decrease gender inequality. These policies could be changes in legislation, modernization of social norms, Job flexibility, and increasing access to childcare. Moreover, they need to focus on both the demand and supply sides of the quality of female labour force participation by matching the women’s education with the creation of suitable jobs.

 

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Keywords:
Gender inequality, labour force participation, economic development, labour market, Egypt

JEL:
I21, D63, J16
Studies and researches
Vol. 14 Issue 1 - 6/2022
The Use of GARCH Autoregressive Models in Estimating and Forecasting the Crude Oil Volatility
Today, oil is one of the most popular commodities traded globally, due to its indispensable character and multiple properties offered to mankind. Increased attention is paid to the analysis of volatile and fluctuating trends in the overall price of this valuable energy source. Using the autoregressive conditional heteroskedasticity models such as GARCH(1,1), GARCH-M(1,1) and EGARCH(1,1), the present study has as a priority objective in estimating and predicting the volatility of the oil returns series (Brent Crude Oil return series) in the 1987-2022. The main results highlighted the preference in using the asymmetric model EGARCH (1,1) on the measurement of conditional variance, showing that Brent Crude Oil reacts over 90% to any existing market’s shock (i.e.: information, events, facts, news, etc.) in a negative manner/way. At the same time, various tests and evaluation conditions were used (ARCH-LM Test, Durbin-Waston Test, High Log likelihood, Lowest Schwarz Information Criteria) in investigating the level of performance in estimation the conditional crude oil volatility. Each GARCH (1,1) model is meeting brilliantly these conditions and acquiring the character of stability and validity in use. At the same time, performing forecast analysis on crude oil volatility in two different time periods: 1987-2022, respectively 2020-2022, it was shown that existence of the phenomenon of clustering-volatility over the time, with strong implications for the functioning mechanism of international financial markets. Fulfilling those restrictive conditions, the symmetric and parametric model GARCH-M (1,1) becomes, in our case, the most efficient model in forecasting the volatility of Brent Crude Oil return series in the analysed period. Read more
Keywords:
conditional variance, GARCH models, crude oil returns, clustering-volatility, COVID-19 Pandemic

JEL:
C10, C50, C53, C59, Q43
Studies and researches
Vol. 14 Issue 1 - 6/2022
University Outreach, Indigenous Knowledge, and Education: A Project with the Pataxó in Brazil
University outreach in Brazil is a way of inserting external society into the procedures and activities developed in the academic field. The objective of this study was to investigate the interaction between the Pataxó indigenous community and a Brazilian higher education institution for the implementation of a university outreach action. This action aimed to promote the training of teachers of this indigenous group to work in multigrade classrooms. The project’s construction began in 2018 through an institutional partnership involving the city hall of Porto Seguro, the Pataxó community, and the Federal Institute of Bahia. Based on the protagonism of the indigenous groups, the role of the higher education institution in programs involving traditional communities is discussed. The result indicates that the protagonism of the traditional community does not take away the powers of the institution that will offer the training but adds quality to an equitable relationship with the different sectors of Brazilian society. Read more
Keywords:
participatory education, university outreach, indigenous education, Pataxó

JEL:
X10
Studies and researches
Vol. 14 Issue 1 - 6/2022
Talent Retention: Analysis of the Antecedents of Talented Employees’ Intention to Stay in the Organizations
Given the today’s hypercompetitive labour market and the lack of human capital and talents, which is exacerbated by the COVID-19 pandemic, retaining talented employees is a big challenge for organizations. Human resources managers generally know that recruitment of talented and high performing employees is crucial for survival and sustainable competitiveness. There is a lot of academic research and discussions on which factors are the most effective in talent retention. The aim of this study was to analyse the antecedents of talented employees’ intention to stay with the organizations with an accent on selected demographic characteristics. The research sample consisted of 391 respondents - employees who have been identified as organizational talents (possibly included in the talent pool, if such exists in the organization). Data was collected using a questionnaire which, in addition to demographic characteristics, contained statements focusing on individual aspects of remaining in the organization. One of the aims of the study is to find out the deeper connections between the examined variables - to find out how and why the variables are correlated with each other through factor analysis. In order to determine the significance of the factors, inference statistics methods such as the Bartlett’s Test of Sphericity, the Kaiser-Meyer-Olkin test and the principal component analysis (PCA) were used. The influence of significant independent variables (demographic factors - gender, age, education, position held and length of employment in the organization) on the value of extracted factors was examined by means of ANOVA (Analysis of Variance). Read more
Keywords:
human resources, talent, talented employees, talent retention, COVID19

JEL:
M12, M54
Studies and researches
Vol. 14 Issue 1 - 6/2022
The Effects of Homeownership on Wealth Distribution
Within the broader context of new dimensions of poverty such as housing poverty, energy poverty, etc., this article describes dependencies between household income, real estate ownership and socio-economic trends. We argue that income is not the principal determinant for home ownership rate, but rather recent lifestyle changes can better explain the homeownership decreasing trend in developed economies. Job mobility, family formation determinants and demographical trends seem to find well-supported basis in literature and data. Using data for the US states we have proved that the decreasing rate of home ownership may be explained by social aspects of changing lifestyle such as increasing share of population moving from rural areas to cities, age of marriage, divorce rate, career-oriented lifestyle, rather than by the frequently cited price-income ratio. We have also observed a short-term correlation between financing availability and homeownership rate, but we conclude that property prices would adjust to lose monetary policy without any long-term effect on homeownership rate. It results that government or monetary policies aimed to cushion the housing unavailability (recently increasing value of price-income) ratio may distort the housing market. We propose a new insight in the housing availability discussion. Read more
Keywords:
home ownership, residential market, employment, household income

JEL:
E31, R21, R31
Studies and researches
Vol. 14 Issue 1 - 6/2022
Bitcoin is so Last Decade – How Decentralized Finance (DeFi) could Shape the Digital Economy
Ever since the Global Financial Crisis, the financial system has seen an accelerated level of innovation. Bitcoin offered a decentralized alternative to money, with thousands of other cryptoassets quickly emerging. Most recently, Decentralized Finance (DeFi) promises to offer a new digital economy, with smart contracts replacing the need for financial intermediaries. This new market aims to reinvent traditional financial products in a more transparent and interoperable way. In this paper we aim to undertake an extensive literature review of the financial stability risks posed by the fast-growing DeFi market and assess these using the Financial Stability Board’s fintech framework. We find that DeFi could pose several challenges to traditional financial infrastructure, primarily by increasing interlinkages between cryptoassets and traditional financial markets. However, if DeFi evolves in a safe way, it could increase competition and financial inclusion with overall positive implications for financial stability. Read more
Keywords:
DeFi, financial stability, fintech, cryptoasset, cryptocurrency

JEL:
O30, C88, E44, G29
EJIS is published under the research grant no. 91-058/2007 The Development of Interdisciplinary Academic Research Aimed at Enhancing the Romanian Universities International Competitiveness, coordinated by the Bucharest Academy of Economic Studies and financed by CNMP Romania.
The Call for Papers is:

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