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on Confederation of Independent States |
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Issue of 2021‒06‒14
five papers chosen by |
| By: | Zolotnytska, Yuliia; Opalov, Oleksandr |
| Abstract: | The article reveals the problems of organic farming in Ukraine. The study showed that small producers, such as family farms, have the ability to produce organic products in accordance with the appropriate requirements. A SWOT analysis of the process of organic farming by a private peasant household was conducted as well as the main opportunities and threats, strengths and weaknesses of its functioning and development were identified. The strategy of development of the Ukrainian organic agriculture of family farms has been chosen. It will give the chance to pursue it further by means of strategic directions, such as: tax incentives for producers of organic products, implementation of the state program for sustainable development of rural areas, “green” tourism and rural cooperation, elimination of political levers of influence on the implementation of state agricultural policy, as well as implementation of the state program to support the development of advisory services in the field of organic production. |
| Keywords: | Agricultural and Food Policy, Crop Production/Industries, Farm Management |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iafepa:311267&r= |
| By: | Irina Skvortsova (National Research University Higher School of Economics); Anna Vershinina (National Research University Higher School of Economics) |
| Abstract: | In this paper we investigate cognitive biases as a potential reason for the varied results of M&A in emerging capital markets. We focus on two cognitive biases, CEO overconfidence and availability bias, which significantly influence CEO behavior, encouraging them to be irrational in M&A deals. Based on 237 M&A deals closed by Russian firms during the period 2005–2019 we empirically prove that CEO overconfidence destroys value, and availability bias creates value in M&A deals in the Russian market. We show that due to the low level of corporate governance in emerging capital markets, all corporate governance mechanisms can mitigate CEO irrationalities in M&A. |
| Keywords: | M&A performance, emerging capital markets, cognitive biases, CEO overconfidence, availability bias. |
| JEL: | G34 G41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:82/fe/2021&r= |
| By: | Böhm, Jens; Peterson, Sonja |
| Abstract: | Different reports including the broadly cited OECD fossil fuel subsidy inventory arrive at high monetary values of fossil fuel subsidies and suggest that phasing out these subsidies has a high potential to increase the efficiency of climate policies. We show that the inventory approach gives misleading information about this potential since there is little correlation with net carbon prices that actually reflect the stringency of climate policies. We use data on net fossil fuel taxation from the OECD's Taxing Energy Use report and augment it with data on subsidies and emission permits, to calculate national and sectoral net carbon prices for the top six emitters (China, US, India, Russia, Japan and Germany) and for Poland and Sweden, two European countries perceived as examples of opposing environmental policies. Our results show that in high-income countries, subsidies mainly relate to reduced fuel tax rates for certain uses, so that e.g. Sweden, for which the OECD inventory reports subsidies per ton of CO2 26 times higher than the US, has a 770% higher national net carbon price than the US. While Germany and Russia have similar subsidy levels in the OECD inventory, the national net carbon price in Germany is 50 €/tCO2, while producer subsidies lead to a negative net carbon price of -6€/tCO2 in Russia. Our results illustrate that raising taxes on fossil fuels will often lead to higher reported inventory subsidies. Inventory measures thus give little information about the efficiency of climate policy. Our analysis also shows the large differences in net carbon prices across countries and across sectors within countries. Net carbon prices should replace fossil fuel subsidies in the policy debates and become the basis for national energy tax reforms and international agreements on minimum carbon prices. |
| Keywords: | fossil fuel subsidies,carbon pricing,energy taxation,climate policy |
| JEL: | H2 Q48 Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2186&r= |
| By: | Dauren Oshakbaev; Zhanna Akisheva; Alexandre Martoussevitch (OECD) |
| Abstract: | Water security is a matter of great national importance for Kazakhstan, with its Security Council meeting on 26 June 2019 devoted to “Ensuring Water Security”. This paper presents recent progress in Kazakhstan with regard to identifying water security priorities and establishing indicators to monitor and measure progress towards achieving water security. The paper also analyses those water security indicators that simultaneously relate to the “nationalised” Green Growth Indicators (GGIs) and Sustainable Development Goal (SDG) indicators that are relevant to water security, and also identifies opportunities for complimentary indicators to be developed to track the full suite of water security targets. The paper identifies remaining challenges for future work in this domain, including improving data collection and reporting; and integrating water security indicators into relevant policy documents, strategies and plans to secure the technical and political attention necessary to drive progress in this domain. |
| Keywords: | Kazakhstan, SDG indicators, water security, water security indicators, water-related green growth |
| JEL: | Q25 Q15 Q28 Q56 D78 |
| Date: | 2021–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:177-en&r= |
| By: | Mäkinen, Mikko |
| Abstract: | Can a major financial crisis trigger changes in a bank’s risk-taking behavior? Using the 2008 Global Financial Crisis as a quasi-natural experiment and a difference-in-differences approach, I examine whether the worst crisis-hit Russian banks – the banks that have strong incentives to behavior-altering changes – can decrease their post-crisis exposure to risk. A shift in risk-taking behavior by these banks indicates the learning hypothesis. The findings are mixed. The evidence concerning credit risk is inconsistent with the learning hypothesis. On the other hand, the evidence concerning solvency risk is consistent with the learning hypothesis and corroborates evidence from the Nordic countries (Berglund and Mäkinen, 2019). As such, bank learning from a financial crisis may not depend on the institutional context and the level of development of national financial market. Several robustness checks with alternative regression specifications are provided. |
| JEL: | G01 G21 G32 |
| Date: | 2021–05–28 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2021_008&r= |