International Journal of Economic Policy

Impact of Information Provision on Decision-Making

2024-03-28T16:20:56+03:00

Purpose: The general purpose of the study was to explore the impact of information provision on decision making.

Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.

Findings: The findings reveal that there exists a contextual and methodological gap relating to information provision on decision making. The study offered significant insights into how information provision impacts decision-making across various domains. Through comprehensive review and synthesis of empirical evidence, it emphasized the crucial role of information quality and accessibility in shaping decision outcomes. Tailoring information provision strategies to diverse stakeholders' needs was highlighted, alongside the bidirectional relationship between information processing and decision outcomes. Ethical considerations, such as transparency and privacy, were stressed to ensure equitable decision outcomes. The findings underscored the transformative potential of effective information provision, offering actionable insights for stakeholders. Interdisciplinary collaborations and evidence-based interventions were advocated for driving positive societal change.

Unique Contribution to Theory, Practice and Policy: The Information Processing theory, Theory of Planned Behaviour and Social Exchange theory may be used to anchor future studies on information provision on decision making. The study offers comprehensive recommendations across theoretical, practical, and policy domains. It calls for further theoretical exploration into cognitive processes underlying decision-making and interdisciplinary collaboration. Practically, it advocates for tailored information provision interventions that match diverse decision contexts and user preferences, alongside transparent and accessible information dissemination practices. Policy-wise, the study urges evidence-based communication strategies, regulatory frameworks promoting transparency and accountability, and educational initiatives fostering information literacy. These recommendations aim to empower individuals, organizations, and policymakers to navigate information landscapes effectively, promote informed decision-making, and address information inequalities.

Keywords: Information Provision, Decision-Making, Stakeholders, Ethical Considerations

The Role of Government Intervention in Mitigating Economic Shocks

2024-03-28T15:56:47+03:00

Purpose: This study sought to explore the role of government intervention in mitigation economic shocks.

Findings: The findings reveal that there exists a contextual and methodological gap relating to the role of government intervention in mitigating economic shocks. Preliminary empirical review that government intervention plays a crucial role in stabilizing economies during periods of turbulence. Through an exploration of theories such as Keynesian economics, Monetarism, and New Classical Economics, it was found that a balanced approach utilizing both fiscal and monetary policies is effective in responding to economic challenges. Sector-specific impacts were also highlighted, showing that targeted government support, such as subsidies and effective regulation, can enhance resilience in sectors like manufacturing and energy. The study's findings suggest that policymakers should adopt evidence-based strategies to navigate economic uncertainties and promote sustainable growth and stability.

Unique Contribution to Theory, Practice and Policy: Keynesian Economics, Monetarism and the New Classical Economics model may be used to anchor future studies on the role of government intervention in mitigating economic shocks. The study made significant contributions by offering recommendations for policymakers and practitioners. It enhanced economic theory by synthesizing Keynesian economics, Monetarism, and New Classical Economics, providing insights into effective policy responses to economic crises. The study emphasized the importance of targeted government spending, a combination of monetary and fiscal policies, clear guidelines for bailouts, and building economic resilience through diversification and innovation. It also highlighted the need for stable regulatory frameworks, addressing inequality, and taking a holistic approach to policy-making. These recommendations have guided past policy decisions, helping to promote economic stability and resilience.

Keywords: Government Intervention, Economic Shocks, Keynesian Economics, Monetarism, Fiscal Policy, Monetary Policy

The Impact of Government Subsidies on Entrepreneurial Activities

2024-03-28T16:07:48+03:00

Purpose: The objective of this study was to look into the impact of government subsidies on entrepreneurial activities.

Findings: The findings reveal that there exists a contextual and methodological gap relating to government subsidies and entrepreneurial activities. Preliminary empirical review revealed that that government subsidies played a crucial role in stimulating entrepreneurial activities by addressing barriers such as access to finance and technology. However, the effectiveness of subsidies varied depending on factors such as subsidy design and institutional context. While some subsidy programs showed positive outcomes in terms of promoting innovation and economic growth, others faced challenges such as bureaucratic inefficiencies. The study highlighted the importance of tailored subsidy design, transparency, and complementary policies for maximizing the impact of subsidies on entrepreneurship.

Unique Contribution to Theory, Practice and Policy: The Resource Based theory, Agency theory and Institutional theory may be used to anchor future studies on the impact of government subsidies on entrepreneurial activities. The study made several recommendations to enhance the effectiveness of government subsidies in promoting entrepreneurship. These recommendations included tailoring subsidy programs to address specific needs, enhancing access to finance, strengthening entrepreneurial ecosystems, improving the regulatory environment, promoting inclusive entrepreneurship, and encouraging innovation and risk-taking. By implementing these recommendations, policymakers aimed to create a supportive environment for entrepreneurs to thrive, foster innovation, and drive economic growth and development.

Keywords: Government Subsidies, Entrepreneurial Activities, Effectiveness, Tailoring Programs, Access to Finance, Entrepreneurial Ecosystems, Regulatory Environment, Inclusive Entrepreneurship

Labor Market Reforms and Youth Unemployment

2024-03-28T15:46:49+03:00

Purpose: The general purpose of the study was to examine labor market reforms and youth employment.

Findings: The findings reveal that there exists a contextual and methodological gap relating to labor market reforms and youth employment. The study illuminated the intricate relationship between labor market reforms and youth unemployment, revealing both opportunities and challenges in tackling this issue. Analyzing empirical evidence from various studies provided insights into the effectiveness of different reform measures across different contexts. While some reforms, such as flexibility promotion and investment in human capital, showed promise in enhancing youth employment, others had mixed results. Future research directions include exploring interactions between labor reforms and macroeconomic factors and conducting longitudinal studies. Overall, the study emphasized the importance of nuanced reform approaches for inclusive economic growth, requiring collaboration among stakeholders and ongoing research for evidence-based policymaking.

Unique Contribution to Theory, Practice and Policy: The Dual Labor Market theory, Human Capital theory and the Institutional theory may be used to anchor future studies on labor market reforms and youth unemployment. The study provided a comprehensive set of recommendations to address the challenges identified. These recommendations included adopting a multifaceted approach to labor market reforms, prioritizing investments in education and skills development, and fostering collaboration between stakeholders. The study emphasized the importance of active labor market policies (ALMPs), continuous monitoring and evaluation of reforms, and addressing structural barriers to youth employment. Additionally, policymakers were urged to prioritize youth entrepreneurship, enhance collaboration and knowledge sharing, and promote inclusive decision-making processes. Overall, the study offered practical strategies for policymakers, contributed to theory by highlighting the importance of evidence-based policymaking and stakeholder engagement, and informed future policy efforts to tackle youth unemployment effectively.

Keywords: Labor Market, Reforms, Youth, Unemployment, Employment Policies, Economic Policy, Labor Force Participation