Journal of Economics and Political Economy

Front Matter

2024-11-10T19:08:37+00:00

Front Matter

Government finance and the demand for money: The relation between taxation and the acceptability of fiat money

2024-11-10T19:11:32+00:00

Requiring taxes to be paid in domestic money provides a valuable characteristic for a state’s money. In the case of a state’s fiat money, it is the foundation for money demand and hence to the development of a financial system built around state money. Except for relatively highly taxed countries, where taxes may encourage tax avoidance and holding bank deposits, the level of taxation is a positive factor boosting financial development. Granger causality tests for 65 countries over the past half-century test the relationship between money and government finance. Except for the low-income countries, where there are only five with adequate data, the causal relationship between taxation and money demand is generally supported in the 60 countries making up the three higher income groups.

Keywords. Higher income groups; Goverment finance; Domand for Money; Taxation.

JEL. L82; L32; D73.

Is there a conflict of interest between Brazilian investment advisors and their clients? An econometric analysis from the perspective of the principal-agent problem

2024-11-10T19:16:43+00:00

This paper investigates the Brazilian investment advisors' model of action. Starting from the principal-agent relationship, we sought to answer the following question: does the current Brazilian remuneration model for investment advisors reduce information asymmetry? For this, the theoretical model of Golec (1992) was adapted and panel data was used on Brazilian investment funds from 2010 to 2020. The results show that the current system of commissioning advisors does not reduce information asymmetry between investors and investment fund managers. Furthermore, given the large share of fixed-income funds in the Brazilian market, advisors do not have incentives to provide all the information they have to increase the profitability of investors' portfolios. These results are useful for the literature that studies the capital market by bringing empirical evidence to Brazil and financial market agents in general.

Keywords. Investment Funds; Investment Advisors; Principal-Agent; Information asymmetry.

JEL. G00; G23; C58; C51.

Kidney disease, donation, and transplantation in East Africa

2024-11-10T19:21:45+00:00

The burden of kidney failure remains largely underreported in East Africa. Health systems face numerous challenges including a lack of kidney registries, shortages of trained skilled healthcare workers, a lack of diagnostic support, a lack of equipment, and underdeveloped policies to govern the provision of treatment for kidney failure. Kidney transplantation, an effective treatment option against kidney failure, is underused primarily because of its cost and the lack of laws governing it. This paper discusses the salient issues affecting kidney donation and transplantation in East Africa.

Keywords. Risk factors; Kidney donation; Transplantation; Compensation to donors; Laws.

JEL. I10; I11; I18.