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Education and Technology for Industrial Power: The German Experience of Human Capital Accumulation
Liu Chunyang,
Gao Ke,
Yang Chen
Issue:
Volume 9, Issue 4, August 2021
Pages:
128-133
Received:
1 June 2021
Accepted:
13 July 2021
Published:
15 July 2021
Abstract: Germany is both an industrial powerhouse and a human capital powerhouse. The first accumulation and rapid development of Germany's human capital not only effectively promoted its industry and economy, but also greatly enhanced its military strength and comprehensive national strength, playing a leading, creating and promoting role in the rise of the country. This paper analyzes the experience of human capital accumulation in Germany from the perspectives of education and science and technology, and discusses the changes of economic and demographic structure, the characteristics of human capital and the investment of human capital. Germany's human capital has three characteristics: cumulative advantage, leading knowledge and career orientation. Germany increases the investment in human capital through policies, funds and innovations. From the experience of Germany, human capital has a fundamental impact on the rise of a country. The general logic is that the rise of a country requires a strong overall national strength and good social order. When a country's human capital accumulates to a considerable extent and forms a great advantage, the vigor of human capital will be fully released under the implementation of appropriate national strategies or even seemingly accidental historical opportunities, which will lead to the release of the creative potential of the society and the economic potential of the country, thus opening the way for the rise of the country. By summarizing the model and experience of human capital accumulation in Germany, this paper provides reference for human capital investment policies of various countries.
Abstract: Germany is both an industrial powerhouse and a human capital powerhouse. The first accumulation and rapid development of Germany's human capital not only effectively promoted its industry and economy, but also greatly enhanced its military strength and comprehensive national strength, playing a leading, creating and promoting role in the rise of th...
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COVID-19 Deaths Linked to Restrictions Stringency Lag: A G7 and Global Analysis, Implications for Public Policy
Marcella Lucchetta,
Lois Tullo
Issue:
Volume 9, Issue 4, August 2021
Pages:
134-158
Received:
29 June 2021
Accepted:
12 July 2021
Published:
2 August 2021
Abstract: This study focuses on the results of the G7 countries from the analysis of daily data from 184 countries of the world during the COVID-19 epidemic. After an increase in restrictions, there is an increase in new COVID-19 deaths. To understand the influences on number of deaths by country, the analysis reveals that per capita income is significantly positively correlated with mortality from COVID-19. This suggests that the epidemic first hit rich countries the hardest through the correlation to the human development index. This finding was contrary to what was predicted by the Global Health Security Index on pre-pandemic preparedness. Within affluent countries, deaths and cases were higher among socio-economic challenged populations. This was supported by the number of deaths that are positively influenced by the GINI index that is an indicator of disparity of income and wealth. The research indicates that after an increase in restrictions, there is an increase in new COVID-19 deaths and cases. This along with the finding on the stringency index, correlated with the stringency lag, point to the effectiveness of policies being negatively correlated due to a lag in implementation and partial application. Moreover, the uncertainty or the variability of the stringency index has a negative impact on mortality. The “Power Distance” by was used to understand individual’s reaction to restrictions indicated by the stringency index and the stringency lag, COVID-19 death numbers were also found to be positively influenced by a countries “Power Distance”. These findings are key to the improve policy management of the virus. The Delta plus and Lambda variant’s increased transmissibility and potential vaccine resistance increases the urgency for policy makers to understand and immediately enforce the stringency of regulations in consideration of their countries Power Balance index, and to reduce the stringency lag of their policies to increase the effectiveness in reducing the transmission of COVID-19.
Abstract: This study focuses on the results of the G7 countries from the analysis of daily data from 184 countries of the world during the COVID-19 epidemic. After an increase in restrictions, there is an increase in new COVID-19 deaths. To understand the influences on number of deaths by country, the analysis reveals that per capita income is significantly ...
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Economic Effects of COVID-19 Pandemic and Potential Solutions
Issue:
Volume 9, Issue 4, August 2021
Pages:
159-164
Received:
14 June 2021
Accepted:
30 June 2021
Published:
13 August 2021
Abstract: Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. However, the existence of this crisis has turned into an economic crisis, as many companies have stopped operating and many people do not have the income they had in previous years. Purpose: The purpose of this article is to describe the COVID-19 pandemic crisis, to analyze its effects on the world economy, but also to propose solutions. Method: This article is conducted as a literature review. Results: COVID-19 pandemic has dramatically affected all aspects of world economy. Conclusion: The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development projects with the stated goal of reducing poverty. Nevertheless, it has played an important role in this pandemic with the funding of many governments as the World Bank has developed a new strategy that focuses on eradicating extreme poverty and promoting shared prosperity in a sustainable way. It is committed to helping countries achieve these goals with proven solutions that incorporate WBG knowledge and financial development services.
Abstract: Background: The pandemic scenario has existed for many years as a possibility by health scientists but was never taken seriously. The arrival of the virus about a year ago caught the whole world unprepared. The inability to tackle the virus with any medication has led many governments to quarantine so that the health crisis can be alleviated. Howev...
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The Impact of Inclusive Finance on Household Risk Financial Market Participation
Zhao Xinxin,
Ma Yifei,
Li Siqi,
Si Zhongjie
Issue:
Volume 9, Issue 4, August 2021
Pages:
165-173
Received:
5 August 2021
Accepted:
30 August 2021
Published:
3 September 2021
Abstract: It is a general rule that households will pay significantly more attention to management of family assets since their income has experienced a continuous increase, and Chinese families are no exception. With the Opening and liberalization of financial market in China, policies about financial inclusive service are put forward after the first decade of the 21st century to support household finance. However, there are still rooms for improvement in the implement of the policy. It is still not very clear that how we can enhance its supposed role in family financial decisions and whether it has equal utility to household in various financial conditions and characters. So research must be made to better evaluate the effect of inclusive finance and help promoting its development. Based on 2017 Chinese Household Financial Survey (CHFS) data, the choices of household financial allocation including the possibility of risk financial market participation and the proportion of risk financial assets held by households are studied. By using factor analysis to combine both traditional and digital factors, a new inclusive finance index is calculated and the fact that inclusive finance can increase the possibility of household risk financial market participation is further proved. Moreover, by subdividing the sample, it is found that the utility of inclusive finance is greater in rural areas, among low-income households and in central and western China, and that the utility in urban areas is determined by household age structure, income level and financial literacy. As to the influence mechanism, inclusive finance can change household’s choice of asset allocation by increasing their financial literacy, which is measured by related questions from the questionnaire. Since inclusive finance is widely confirmed to promote the rational allocation of financial assets, the development of inclusive finance in rural areas, among low-income households and in central and western China should be more primarily supported to better tap their potential in financial sector, while the development in urban areas should be processed together with the increase of income and the popularized of financial knowledge.
Abstract: It is a general rule that households will pay significantly more attention to management of family assets since their income has experienced a continuous increase, and Chinese families are no exception. With the Opening and liberalization of financial market in China, policies about financial inclusive service are put forward after the first decade...
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