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on Confederation of Independent States |
| By: | Francois Guillemin (National Research University Higher School of Economics); Maria Semenova (National Research University Higher School of Economics) |
| Abstract: | This paper investigates the role of bank voluntary disclosure, as a source of information about risk, in the interbank market. Using data on the 179 largest Russian banks over the period of 2004-2013 we test whether the ability to attract interbank loans is sensitive to various transparency indices such as those disclosing bank risks, board composition, or even corporate event details. We show that larger but riskier banks – at least in terms of credit risk – behave more transparently and disclose more. The article is also the first to provide evidence that the ability to attract funds in the interbank market is positively correlated with the degree of transparency. This result is stable for various aspects of disclosure. |
| Keywords: | banks, interbank market, disclosure, transparency, banking governance |
| JEL: | G21 P2 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:67/fe/2018&r=cis |
| By: | Veiko Lember; Rainer Kattel; Piret Tõnurist |
| Abstract: | Technology is clearly a critical factor in the lives of organizations, yet there are only few studies that deal with technology and public organizations. In this paper we propose to understand technological change in public sector, in particular how technology influences administrative capacity, through the new concept of technological capacity. We use the case of Estonia – internationally associated with a strong e-state profile – as an exploratory case to answer two research questions: how does technological change influence administrative capacity in public organizations, and why and how does technological change take place in the public sector. By conducting document analysis and a series of interviews with public sector representatives, we demonstrate how dynamic and static change in technological capacities is influenced by four different public-sector feedback and selection mechanisms. Organizations with dynamic technological capacities solve the ambidexterity dilemma in the public sector: they introduce radical new technological solutions while they keep providing services required by laws and regulations. We conclude that in spite of the neglected position of technology in public administration literature, technology is an intrinsic factor in how administrative capacity evolves. |
| Date: | 2016–08 |
| URL: | http://d.repec.org/n?u=RePEc:tth:wpaper:71&r=cis |
| By: | Huntington, Hillard; Barrios, James; Arora, Vipin |
| Abstract: | This study conducts a selective review of various estimates for energy demand responses. It emphasizes recent empirical studies that include trends from studies published after 2000. Emphasis is placed on the five major emerging or transitional economies in Brazil, China, India, Mexico and Russia, although other important nations like Chile and South Korea are also discussed when studies are available. The review focuses attention on the long-run responses to changes in prices and income after capital stock turnover has been completed. The terminology often refers to elasticities, or the percentage change in energy use divided by the percentage change in price (or income), holding constant all other factors that could influence energy-use decisions. Most studies have focused upon household and transportation use of liquid fuels; many fewer studies have investigated fuels used by industry or commerce or for electric generation. Based upon the available estimates, price and income elasticities for liquid fuels are generally less than one (unity) for many countries and sectors, except for the long-run income effect for transportation purposes, which can range widely by country between 0.24 and 1.75 while averaging 0.94 for all countries. |
| Keywords: | energy demand; industrializing countries; price elasticity; income elasticity |
| JEL: | O13 Q41 |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87532&r=cis |
| By: | Margit Kirs; Veiko Lember; Erkki Karo |
| Abstract: | Based on the case studies from the Estonian biotechnology sector, we explore the development trajectories of academic business ventures in a country where the formal and linear model of technology transfer and commercialization have been at the core of the innovation policy, but the exploitation and diffusion of knowledge generated through formal university-industry linkages has remained limited. We show that even in the area of biotechnology, where one could expect this model of technology transfer to be most visible, the model is not functioning in practice and the policy has had limited impact. The more systemic evolutionary approach to innovation and knowledge diffusion seems to better grasp the contextual aspects of technology transfer in catching-up context, while also providing more informative input for policy-making. |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:tth:wpaper:79&r=cis |