/library/oar/handle/123456789/28117 2025-10-31T20:00:51Z 2025-10-31T20:00:51Z /library/oar/handle/123456789/122724 2024-05-28T04:43:18Z 1997-01-01T00:00:00Z

Title: Social choice models : the Maltese experience post independence Abstract: This study has two objectives: firstly, to determine whether the Median Voter Theorem, as proposed by Hotelling (1929) and Downs (1957), is relevant to the changing nature of Maltese politics, and secondly, to assess Riker's theory (1962) regarding the convergence from a multiparty system towards two main political blocs. The first objective seeks to establish whether political parties in Malta have moved away from the extreme positions towards the center of the political spectrum, i.e. whether there has been a convergence of ideas, ideologies and power of the political parties in Malta. The second objective tests whether there is room for third parties in Maltese politics. In an attempt to answer some of the questions raised by this paper the ideologies of the Maltese political parties are scrutinised to determine the nature of the changes that have occurred. This scrutinisation process begins with a very brief history of policy prescriptions spelled out by the political parties in their manifestos since the 60's. Chapter one reviews what the different political parties have stated in their political manifestos during the last thirty odd years as well as the results which these thoughts and ideas have yielded in terms of political power. Chapter 2 reviews the theoretical background of the ideologies being tested: the Median Voter Theorem (Hotelling & Downs). and Riker's theory of convergence from a multiparty system to one where two big blocs emerge. The analysis stage of this paper is considered in Chapter 3 where the political parties themselves attempt to answer some of the questions being asked by this paper. An evaluation of the situation and the applicability of the theories being tested concludes this paper. Description: B.COM.(HONS)ECONOMICS

1997-01-01T00:00:00Z /library/oar/handle/123456789/101524 2022-09-12T09:04:27Z 2006-01-01T00:00:00Z

Title: The implications of economic vulnerability for the growth and macroeconomic dynamics of small states Abstract: The notions of economic vulnerability and resilience are among the mam issues studied within the context of the economics of small states. This thesis tests two principal hypotheses within this area, namely that: different levels of economic development can at least in part be attributed to the effects of vulnerability, defined as an inherent proneness to shocks, and to resilience, defined as the nurtured ability to withstand the effects of such shocks, and; economic vulnerability can lead to higher aggregate demand volatility and to more persistent macroeconomic imbalances. These hypotheses are tested by firstly obtaining stylised facts regarding vulnerability and resilience from the literature and out of empirical observation. Subsequently, the thesis develops theoretical models to explain such facts. An underlying theme in these models is that vulnerability may be expressed in terms of asymmetric responses to shocks, whereby the effects of negative shocks outweigh those of positive ones due to diminishing marginal product and utility. Finally, the thesis conducts econometric tests of the relationships derived from the theoretical models. The stylised facts regarding long term growth patterns include: economic vulnerability is a relevant concept, especially for small states; small states on average do not exhibit low per capita incomes but have greater cross-sectional dispersions as well as higher fluctuations in income growth rates, and; small vulnerable economies tend to invest a larger share of their output. The stylized facts concerning short run aggregate demand fluctuations include that small states: have larger fluctuations in the growth rates of aggregate demand components; tend to experience more persistent deficits on their external current account; depend to a greater extent on government expenditure but exhibit no marked tendency towards higher fiscal deficits. Towards explaining the stylised facts concerning growth, the neo-classical growth model is extended to decompose the effects of vulnerability into those originating from exogenous shocks and those attributable to the economy's specific susceptibility to the effects of such shocks, the latter reflecting economic resilience. The lack of resilience emanates out of diminishing marginal productivity which causes negative shocks to have relatively larger effects than positive ones. This leads to the conclusion that it is possible for the more vulnerable economies to achieve a higher capital stock and output at the cost of lower consumption. This happens as the vulnerable economy saves and invests, if appropriate structures exist, to build its resilience. From an aggregate demand perspective, vulnerability is modelled to introduce uncertainty in consumption decisions. This causes economic behaviour to be better explained by the Keynesian rather than by the rational expectations paradigm. The income multiplier process is more relevant under conditions of vulnerability while negative shocks to income would induce a lower marginal propensity to consume than positive ones. This runs counter to the supply-side reactions identified in the model of economic growth, leading to excess aggregate demand situations often reflected in pressures on the current account. The modelling of import expenditure highlights the effects of trade openness and of dichotomies between export- and domestically oriented productive sectors as potential sources of both vulnerability and resilience. The modelling of government consumption indicates an enhanced role for demand management policies in vulnerable economies. Econometric analyses based on an error-correction specification applied to panel data in general appear to confirm the hypotheses derived from theoretical models. The findings of the thesis point to the importance of national and supranational efforts towards developing resilience. Among the avenues for further research, there is the need to incorporate vulnerability and resilience more widely in economic models and to extend these concepts to other dimensions of economic development. Description: PH.D.ECONOMICS

2006-01-01T00:00:00Z /library/oar/handle/123456789/101491 2022-09-06T09:18:15Z 1972-01-01T00:00:00Z

Title: Development of water resources in Malta Abstract: Economists agree that without sound urban conditions, no lasting economic development take place. In economic terms, development , inter alia, on the availability of resources and manpower. Water ranks high among the resources in particular, it is a basic resource for fundamental activities. The provision of piped water is important as a result of this, there will be a diseases. It is estimated that each year about 500 million people suffer from disabling diseases that can be related to unsafe water supplies. Economic development that measures capable of exercising favourable effects on the flow of income should be taken in a wide variety of fields - public administration, education, health, urban development - and it is recognized that in any economy a substantial proportion of funds must be devoted to projects of this nature whose output is not readily assignable as fully recoverable market value. Funds invested in such basic services, without which primary, secondary and tertiary productive activities cannot function - that is all public services such as the maintenance of law and order, education, transport, communications, , public health, and water supply - called social overhead capital. From this point of view of development, the provision of social overhead capital - and with it public health and water facilities - is not an end in itself but rather a basic investment to provide the premises needed to support directly productive activities such as, for example, mining and manufacturing. These necessary services, according to general economic concepts, are facilities which, in some sense, can be basic to a wide variety of economic activities and are generally run by public agencies or by private agencies subject to control, free of charge or at rates regulated by public agencies. As summarized by Hirschimann, there is no doubt that neglect of public utilities can become a more serious on economic progress. There is a minimum ratio of social overhead capital to directly productive services activity - a point at which output can only be increased if services are expanded. Unfortunately, it is easy to recognize the point at which development runs so far ahead of services that it becomes self-defeating [...] Description: B.COM.(HONS)ECONOMICS

1972-01-01T00:00:00Z /library/oar/handle/123456789/88835 2022-02-15T07:13:37Z 1978-01-01T00:00:00Z

Title: Some economic aspects of the Maltese fishing industry with special reference to the relationship between cost and size Abstract: The fishing industry constitutes a valuable area for economic study. There is plenty of scope for applying modern economic theories to the problem of the fishing industries. A particular problem that is considered worthy of investigation is that relating the cost conditions in the fishing industry. In a general way the cost problem in fisheries is over-shadowed by presuming characteristics such as the hunting element, fluctuations of the fish stock, weather conditions, imperfect knowledge of the sea. Also important is the human factor involving difference is skill endurance at sea, and least social factors and attitudes involving differences in environment and upbringing of fishing folk. Catch per boat necessarily to meet costs and ensure the fisherman a fair income in relation to national levels may from time to time be inadequate. Fishermen may have to survive a poor season by evaluation of overhead costs between seasons. Description: M.A.ECONOMICS

1978-01-01T00:00:00Z