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The Fiftieth year of Economic Analysis and Policy: How, why, and to what extent has it changed?

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  • Tisdell, Clement A.

Abstract

After briefly reviewing the role and nature of Economic Analysis and Policy (EAP) in its first 30 years of existence, this article explores how, why and to what extent it has changed in the last 20 years. Subsequently, the article considers how these changes have improved the global scholarly status of this journal. The major change in this period occurred as a result of a co-operative publishing agreement between the Economics Society of Australia (Queensland) Inc. and Elsevier, which came into force in 2014. This switch from EAP being published by a society to a large and efficient commercial international publisher of journals has dramatically increased the global reach of EAP and has resulted in a very favourable increase in the levels of its journal metrics. It has gone (for example) from being in the lowest quartile of SCImago journal rankings to being in the highest quartile. The scholarly value of relying on journal metrics to determine the scientific merit of journals and the quality of articles in journals is analysed. It is argued that a reinforcing feedback system (based on multiple factors) tends to attract the submission of higher quality articles to journals with superior metrics, and consequently, enhances their academic standing. The feedback-influences involved are explained. It is hypothesized that the system of relying on journal metrics provides large established commercial publishers with a competitive advantage over new entrants and smaller publishers of journals. The implications of this for industry structure are discussed. Given the changed landscape in the publishing of scholarly journals, it is concluded that without the symbiotic publishing arrangement entered into with Elsevier, EAP might have struggled to continue to exist in recent years, and undoubtedly would have a much lower scholarly impact than it has now.

Suggested Citation

  • Tisdell, Clement A., 2020. "The Fiftieth year of Economic Analysis and Policy: How, why, and to what extent has it changed?," Economic Analysis and Policy, Elsevier, vol. 68(C), pages 1-9.
    • Handle: RePEc:eee:ecanpo:v:68:y:2020:i:c:p:a1-a9
    DOI: 10.1016/j.eap.2020.11.002
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    References listed on IDEAS

    as
    1. Clem Tisdell, 2017. "Information technology’s impacts on productivity and welfare: a review," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 44(3), pages 400-413, March.
    2. Tisdell, Clem & Wilson, Clevo, 2002. "World Heritage Listing of Australian Natural Sites: Tourism Stimulus and Its Economic Value," Economic Analysis and Policy, Elsevier, vol. 32(2), pages 27-49, June Spec.
    3. Tisdell, C., 1971. "Commonwealth Industrial Research and Development Grants - An Economic Evaluation," Economic Analysis and Policy, Elsevier, vol. 2(2), pages 27-50.
    4. Clem Tisdell, 2009. "Economic Reform and Openness in China: China’s Development Policies in the Last 30 Years," Economic Analysis and Policy, Elsevier, vol. 39(2), pages 271-294, September.
    5. Pearson, L. J. & Tisdell, C. & Lisle, A. T., 2002. "The Impact of Noosa National Park on Surrounding Property Values: An Application of the Hedonic Price Method," Economic Analysis and Policy, Elsevier, vol. 32(2), pages 155-171, June Spec.
    6. Shell, Karl, 2020. "Fifty years of the Journal of Economic Theory," Journal of Economic Theory, Elsevier, vol. 187(C).
    7. Clement A. Tisdell, 2013. "Competition, Diversity and Economic Performance," Books, Edward Elgar Publishing, number 13026.
    8. Duhs, L. A., 2000. "Economic Analysis and Policy: A Thirtieth Birthday Retrospective," Economic Analysis and Policy, Elsevier, vol. 30(1), pages 1-10, March.
    9. Tisdell, Clement, 2018. "The sustainability and desirability of the traditional economies of Australian Aborigines: Controversial issues," Economic Analysis and Policy, Elsevier, vol. 57(C), pages 1-8.
    10. Liu, Hong & Gao, Yuhang & Tisdell, Clement A. & Wang, Fei, 2020. "Are housing property rights important for fertility outcomes in China? Empirical evidence and policy issues," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 211-223.
    11. Tisdell, Clement A., 2020. "Economic, social and political issues raised by the COVID-19 pandemic," Economic Analysis and Policy, Elsevier, vol. 68(C), pages 17-28.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Competition in journal publishing; Economic Analysis and Policy; Information and communication technology (ICT); Journal metrics; Ranking of journals; SCImago journal rank (SJR);
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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