Special Issue Call for Papers

International Journal of Econometrics and Financial Management

Special Issue Call for Papers

Special Issue on Ongoing Research on Economic and social theory on sustainability

Though sustainability is a key dimension of the wellbeing framework there are still confusions about the concept, its measurement and its applications. The main feature of the sustainability is the uncertainty about the future. Daly and Cobb, Capra, Berry, and others have addressed the limits of current economic theory on sustainability issues. Most of critics of economics suggest changes in public policy as a means of addressing the market failures. The scholar John E. Ikerd (1997) outlines a case for developing the theory of “economics of sustainability”. In recent years, efforts for inclusion of sustainability principles within policy-making and alternatives to GDP as a measure of social progress have been undertaken. There are many significant contributions from the fields of economics, philosophy and environmental science. In economics, the contributions start with the work of Frank Ramsey (Ramsey 1928) and the literature continues to influence the international and domestic policy dialogue including the G20 policy agenda, the work of OECD, World Bank and International Fund etc. The ongoing efforts try to improve measures of social progress. The techniques and policy prescriptions are based on particular theoretical models of economic development with assumptions that simplify reality. Applying them without appreciating the consequences of such assumptions can lead to false inferences related to the wellbeing of the future generations.

Since there are different economic theories regarding the sustainability and the conflicting beliefs are at the root of the sustainability issue, John Ikerd challenges for a new belief system that must build from the ground up and proposes four economic principles as essential for economic sustainability: individuality, scarcity, efficiency, and sovereignty. The theories, the techniques and the policies for sustainability measurement need to be continually explored.

The special issue of the journal is dedicated to unifying the economic theories regarding the sustainability, introducing alternative measures if a nation is making true progress in improving its wellbeing, and discover mathematical models related to sustainability-similar to the one related to biological systems. Authors are expected to provide their research results on panel data and suggest certain methods of analyzing the effects of panel data problems, cross-section dependence affecting the inference, panel unit root tests assuming cross-section independence; introduce new dynamic mathematical models related to sustainability.

About the issue

The scope of topics covered in the this issue include:

  • • Case study on the current economic theories on sustainability issues, their benefits, limitations and new proposals
  • • Management of across-generation stocks: economic and financial stocks, human stocks, environmental stocks, social stocks
  • • Use of economic and statistical methods of analysis in panel data research (Econometric Methodology: Sequential Panel Selection Method and Panel KSS test, Testing for multiple structural breaks, analysis in relation to certain economic sectors and regional economies, factor analysis, etc.)


  • • Time-series and cross-section studies, testing stationarity on individual time series
  • • Panel data models to construct and test more complicated behavioral models
  • • Impact and effects of panel data on the country or regional economy
  • • Modern approaches to measuring wellbeing
  • • Mathematical Models for Wellbeing, Domestic Output and Current Account sustainability
  • • Method discussing the use of Pesaran's panel unit root test for testing the current account sustainability and Kapetanios's method, the standard augmented Dickey–Fuller (ADF) regressions, Nonlinear panel test and Serial Correlated Errors

  • • Results presenting the tabulated outcomes and critical values and the tests investigated by Monte Carlo experiments/simulations.

Important dates

Submission Deadline: October 31, 2014
Notification of Acceptance: November 15, 2014
Final Version Due: November 25, 2014
Special Issue Publishing Date: December 30, 2014

Chief Guest Editor

Pellumb Kllogjeri
University “Aleksander Xhuvani”, Elbasan, ALBANIA
Email: pkallogjeri@gmail.com

Submit your article now

Manuscripts should be submitted as an attached file to an e-mail directed to the Chief Guest Editor, Pellumb Kllogjeri at the address: <pkallogjeri@gmail.com>

Special Issue on Regional studies

In the early 19th century a French sociologist Frederic Le Play has suggested to consider the inter-dependence and relationship of geography and social development. His idea has given the basis to alienate the regions of the natural world, studied long ago as a separate dependent research subject of the geoscience, from the “physical regions”, established by communities of people, actively influencing its borders and structure. The regional studies are interdisciplinary a priori; hence the notion of a region is a topic of research in numerous fields of science: geography, economics, political science, sociology, cultural studies, history, etc. A number of prominent scholars, such as Niosi, Asheim and Isaksen, note that the region as an object of study should be one of the priorities in the regional studies. The contemporary socio-economic research suggests four main paradigms to consider the region: 1) region as a quasi-state, described as a subsystem of the state and national economy, having relative isolation in decision-making; 2) region as a quasi-corporation pointing at the regional and municipal property, which is engaged in economic relations with other market participants; 3) region as a society, considering the region through the lens of different social groups, their roles and interests in the context of the issues related to the reproduction of social life and the development of the socio-economic system; 4) region as a market, meaning either a common conditions for economic activity in certain territorial boundaries and the presence of the distinctive features of the resource markets in different regions, or the interest of regional authorities in the creation of a favorable business climate.

Giving credits to the classical approach of the regional studies, nowadays researchers consider additional factors in this scope. Strengthening hyper-competition, which sets the growing interest in innovation as a source of competitive advantage, increases the importance of cooperative intra-regional ties in innovation (the concept of open innovation H. Chesbrough). This fact has led to the development of a new approach to define a region – an independent and direct participant in the internationalization and cooperation processes in the economy.

Regions are increasingly eager to benefit from interactions with the outside world through the formation of networks (Stubbs Richard and Geoffrey Underhill), changing the balance in the “center – periphery” (Frank A.G.; Friedmann J.). In this case, the positioning of the region and its movement in the direction of openness or isolationism is dependent on various external and internal factors. As an alternative to the traditional hierarchy ‘from the center to the regions’, comes the network form of organization of social control. The network approach determines the region as a network itself and as an element of an even larger network (Cooke P., Dreger C., Erber G.). Analyzing the changes that occur with the region in a globalized world, the scientists note that the notion of region does not disappear, but it re-appears in a regional-network form.

About the issue

The scope of topics covered in the this issue include:

  • Theoretical contributions in line with the spatial economics, location modeling, and empirical research over inter-industry analysis;
  • The aspects of demography and migration;
  • Transportation analysis;
  • Urban and rural development, including land use and resource management;
  • Environmental and ecological analysis;
  • Regional development policy analysis, industrial and innovative development of the regions;
  • Articles on geographical information systems, spatial data analysis.

Important dates

Submission Deadline: October 20, 2014
Notification of Acceptance: November 10, 2014
Final Version Due: November 24, 2014
Special Issue Publishing Date: December 01, 2014

Chief Guest Editor

Andrey Mikhaylov
Immanuel Kant Baltic Federal University
Email: ikbfu39@gmail.com

Submit your article now

Manuscripts should be submitted as an attached file to an e-mail directed to the Chief Guest Editor, Andrey Mikhaylov at the address: <ikbfu39@gmail.com>

Special Issue on Geography of Innovation and Economic Clusters: Evidence from Russia

Studies on the effects of inter-firm and inter-industry interactions have long been the topic of scientific research around the globe. The industrial cluster approach, which is certainly associated with the name of M. Porter roots to research of E. Dahmen, A. Hirschman and J.R. Lasuen to name just a few. Recent authors discuss the inter-organizational collaboration of actors within the cluster, the backbone of which is involvement in to the process of value co-creation. The cluster ceased to be a geographical term and has transformed into the institutional framework of the new knowledge (networked) economy.

Over the last decade, the cluster concept has moved from being solely of interest to the respective scientific community on to the policy tool, which is being used by national and regional authorities all around the world. One of the latter countries in Europe to introduce the cluster policy was Russia. The special issue of the journal is dedicated to discover the fundamentals and major results of the Russian cluster policy so far. Authors are expected to provide their research results on cluster initiatives being implemented on the regional level, give their critical view on intermediate results, as well as suggest certain methods of analyzing the effects of clustering.

The priority will be given to the econometric articles, aimed at providing quantitative analysis in addition to suggested empirical evidence.

About the issue

The scope of topics covered in the this issue include:

  • Case study on clustering in Russia (overview and in-depth analysis of regional clusters and innovation networks in the regions of Russia);

  • Use of economic and statistical methods of analysis in cluster research (analysis of efficiency and drawbacks, SWOT analysis in relation to certain economic sectors and regional economies, factor analysis, etc.);


  • Process and mechanism of formation of clusters in Russia (it is proposed to pay special attention to the stage of emergence of a cluster; the cluster initiative and proto-cluster);


  • Regional cluster policies (an overview of the role of governmental authorities in establishing favorable economic conditions for the cluster formation);

  • Impact and effects of clustering on the regional economy;
  • Inter-cluster cooperation (inter-regional and international cluster cooperation; cluster alliances and cluster networks);

  • Development of clusters in high-tech and traditional sectors of economy;
  • Comparative analysis of organized and organic clusters in Russia;
  • Geography of regional clusters in Russia;
  • Institutional collaboration within innovative cluster network (university-business-government-non-profit organizations).

Important dates

Submission Deadline: July 31, 2014
Notification of Acceptance: August 15, 2014
Final Version Due: August 25, 2014
Special Issue Publishing Date: September 30, 2014

Chief Guest Editor

Andrey Mikhaylov
Immanuel Kant Baltic Federal University
Email: ikbfu39@gmail.com

Submit your article now

Manuscripts should be submitted as an attached file to an e-mail directed to the Chief Guest Editor, Andrey Mikhaylov at the address: <ikbfu39@gmail.com>