Capitalism and African business cultures

Taylor, Scott D.

doi:10.35188/unu-wider/2014/775-2

Cited by 3 publications

(1 citation statement)

References 33 publications

(22 reference statements)

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“…In addition to the decomposition of the MSE skill score, we also use Taylor diagrams (Taylor, 2001). Taylor diagrams provide a way of visually displaying how close climate models are to the observations through correlation coefficients, standard deviations, and root‐mean‐square (RMS) errors between the simulated and observed patterns (Taylor, 2005).…”

Section: Methodsmentioning

confidence: 99%

Evaluation of the capability of global climate models in reproducing the temporal clustering in heavy precipitation over Europe

Yang

Villarini

2020

Intl Journal of Climatology

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Evaluating the capability of global climate models (GCMs) in reproducing the historical records represents a way of building confidence in their capability for future projections. Among the different ways of evaluating them, here we focus on their capability in reproducing the temporal clustering of heavy precipitation events across Europe in light of four climate modes [the Arctic Oscillation (AO), the North Atlantic Oscillation (NAO), the East Atlantic (EA) pattern, and the Scandinavia pattern (SCAND)], and GCMs from the Coupled Model Intercomparison Project Phase 5 (CMIP5) and the large ensemble runs using the Community Earth System Model (CESM). We use a peak over threshold (POT) approach to identify heavy precipitation events, and Cox regression to relate the occurrence of these events to the climate modes. We find that the GCMs can capture the temporal clustering in heavy precipitation across Europe as a function of these four climate modes; moreover, our findings indicate the GCMs can better reproduce the relationship between heavy precipitation and AO/SCAND, than NAO/EA. Comparing the results based on CMIP5 models and CESM, we find that the inter-model uncertainties are larger than the intra-model ones in most of the cases, even though CESM tends to have a poorer performance for EA; this shortcoming for CESM is likely due to the pattern of the Z500 anomalies which is different from the reference data when EA is in the positive phase, affecting the transport of moisture across Europe.

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Section: Methodsmentioning

confidence: 99%

Evaluation of the capability of global climate models in reproducing the temporal clustering in heavy precipitation over Europe

Yang

Villarini

2020

Intl Journal of Climatology

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Commodity booms and busts in emerging economies

Drechsel

Tenreyro

2018

Journal of International Economics

146

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Emerging economies, particularly those dependent on commodity exports, are prone to highly disruptive economic cycles. This paper proposes a small open economy model for a net commodity exporter to quantitatively study the triggers of these cycles. The economy consists of two sectors, one of which produces commodities with prices subject to exogenous international fluctuations. These fluctuations affect both the competitiveness of the economy and its borrowing terms, as higher commodity prices are associated with lower spreads between the country's borrowing rate and world interest rates. Both effects jointly result in strongly positive effects of commodity price increases on GDP, consumption and investment, and a negative effect on the total trade balance. Furthermore, they generate excess volatility of consumption over output and a large volatility of investment. The model structure nests various candidate sources of shocks proposed in previous work on emerging economy business cycles. Estimating the model on Argentine data, we find that the contribution of commodity price shocks to fluctuations in post-1950 output growth is in the order of 38%. In addition, commodity prices account for around 42% and 61% of the variation in consumption and investment growth, respectively. We find transitory productivity shocks to be an important driver of output fluctuations, exceeding the contribution of shocks to the trend, which is smaller, although not negligible.

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Will Africapitalism work?

Adegbite

Daodu

Wood

2020

Africa Journal of Management

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Africapitalism suggests a refined capitalist system aimed at achieving collective good unlike the shareholder value maximisation model of Anglo-American capitalism. It emphasises the obligations of the private sector in Africa to pursue socio-economic development. Despite these proposed benefits, this paper queries the functionality of such capitalism. It presents six major criticisms of Africapitalism and argues for a more realistic approach to African development.

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Capitalism and African business cultures

Cited by 3 publications

References 33 publications

Evaluation of the capability of global climate models in reproducing the temporal clustering in heavy precipitation over Europe

Evaluation of the capability of global climate models in reproducing the temporal clustering in heavy precipitation over Europe

Commodity booms and busts in emerging economies

Will Africapitalism work?

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