Volume 73, Issue 3

This paper suggests that feedback effects between technological progress and human longevity lie at the heart of their common emergence in human history. It connects two major research questions. First, the long life span after menopause is a unique but puzzling feature of humans among primates. Second, the shift in human behavior at least 50,000 years ago, which led to an unprecedented pace of technological progress, is still not well understood. The paper develops an evolutionary growth theory that builds on the trade–off between the quantity and the quality of offspring. It suggests that early technological advances gradually increased the importance of intergenerational transfers of knowledge. Eventually, the fertility advantage shifted towards individuals that were characterized by higher parental investment in offspring and a significant post–reproductive life span. Subsequently, the rise in human longevity reinforced the process of development and laid the foundations for sustained technological progress. As a key feature, the theory resolves the debate about a “revolution” in human behavior in an entirely new way. It shows that a gradual emergence of modern behavior is sufficient to trigger a demographic shift that appears as a “behavioral revolution” in the archeological record.

By utilizing a novel data set of 24 democracies for the 1972–2018 period, we investigate how election outcomes, including election surprises, are priced by the stock market. We show that an election surprise increases volatility but has no significant effect on excess returns. A win by a coalition announced prior to the election decreases volatility, however, a large winning percentage for the lead party within the coalition decreases excess returns. An unexpected winning margin over the closest competitor by the lead party decreases volatility by consolidating power, but only in parliamentary elections. Party orientation for the winning party affects neither excess returns nor volatility, even if it is unexpected.

In the last two decades, there have been exponential increases in Chinese loans and grants, particularly flowing to the Global South. The subsequent growth effects in the South have led to speculation about China’s development models that govern its official finance and the overall macroeconomic effects. Consequently, a considerable body of research has investigated how different Chinese development policies affect the allocation patterns and outcomes in the Global South. This paper critically reviews related scholarly works, emphasising empirical literature. It identifies that the One China Policy is unanimously the most important strategy in explaining Chinese funding, although this policy tool may not be linked to trade with China and its humanitarian assistance. Chinese finance undermines efforts to promote good governance and contributes to political extortion and environmental degradation in recipient countries by not imposing governance reform conditionality on official financing. However, this argument must be carefully weighed against the positive impact of Chinese finance on health and economic growth, among other benefits. Despite intense research efforts, further research is still needed to understand vulnerabilities associated with China’s development models. The information conveyed by the review will be of interest to foreign aid spectators seeking to learn from China’s experience.

This paper reviews how different policies jointly affect employment among disabled individuals. I used Google Scholar to find literature on welfare systems, disability, health and employment. I found literature on flexicurity through snowballing. I evaluate the following hypotheses: (1) generous disability benefits constitute a disincentive to work; (2) high investments in activation policies have a positive effect on employment; (3) a flexible labour market fosters employment; (4) disabled workers are more likely to be in temporary employment in countries with a flexible labour market. Hypotheses 1 and 3 find no support in the selected literature. Literature on hypotheses 2 and 4 is inconclusive. Future research avenues are suggested.