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on Central and Western Asia |
| By: | Kuntala Lahiri-Dutt |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:pas:asarcc:2006-08&r=cwa |
| By: | Gupta, Bishnupriya (Department of Economics, University of Warwick) |
| Abstract: | This paper uses firm level data from all the textile producing regions in India to examine the relation between wages, unionization and labour productivity. We find that fewer workers were employed per machine in the unionized mills in Bombay and Ahmedabad, as compared to non-unionized regions implying that low labour productivity was not due to union resistance to increased work intensity. Our findings suggest that while low wages in India encouraged overmanning, higher wages, prompted by unionization, had productivity enhancing effects. We explore alternative explanations for low labour productivity, arising from the managerial and institutional structure of Indian cotton mills. |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:753&r=cwa |
| By: | Santanu Gupta; Raghbendra Jha |
| Abstract: | This paper examines allocation of local public goods over jurisdictions (villages) with individuals with identical tastes and different incomes, in a model with democratic institutions and majority rule. The median voter (in income) in each jurisdiction determines the probability of re-election for the incumbent government. The jurisdiction with the median of these median voters is most favoured. With identical median voters in jurisdictions, and with re-election requiring less than 50mandate, jurisdictions with higher income inequality get favoured. Results from a survey data (from NCAER) on infrastructure provision in 1669 Indian villages confirm this hypothesis. Ethnic fragmentation does not affect public good provision but political fragmentation does. Finally, villages with the median population are the most favoured for public goods allocation. Sparsely populated and too densely populated villages are relatively neglected. |
| Keywords: | median voter, local public good, reservation utility |
| JEL: | H41 H72 |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:pas:papers:2006-07&r=cwa |
| By: | Tigran Poghosyan; Evzen Kocenda |
| Abstract: | This paper studies foreign exchange risk premium using the uncovered interest rate parity framework in a model economy. The analysis is performed using weekly data on foreign and domestic currency deposits in the Armenian banking system. Results of the study indicate that contrary to the established view there is a positive correspondence between exchange rate depreciation and interest rate differentials. Further, it is shown that a systematic positive risk premium required by economic agents for foreign exchange transactions increases over the investment horizon. One-factor two-currency affine term structure framework applied in the paper is not sufficient to explain the driving forces behind the positive exchange rate risk premium. GARCH approach shows that central bank interventions and deposit volumes are two factors explaining time-varying exchange rate risk premium. |
| Keywords: | “Forward premium” puzzle, exchange rate risk, time-varying risk premium, affine term structure models, GARCH-in-Mean, foreign and domestic deposits, transition and emerging markets, Armenia. |
| JEL: | E43 E58 F31 G15 O16 P20 |
| Date: | 2006–05 |
| URL: | http://d.repec.org/n?u=RePEc:cer:papers:wp297&r=cwa |
| By: | Ali Abdel Gadir Ali |
| URL: | http://d.repec.org/n?u=RePEc:api:apiwps:0602&r=cwa |
| By: | Demirguc-Kunt, Asli; Kane, Edward J.; Laeven, Luc |
| Abstract: | This paper illustrates the trends in deposit insurance adoption. It discusses the cross-country differences in design, and synthesizes the policy messages from cross-country empirical work as well as individual country experiences. The paper develops practical lessons from this work and distills the evidence into a set of principles of good design. Cross-country empirical research and individual-country experience confirm that, for at least the time being, officials in many countries would do well to delay the installation of a deposit insurance system. |
| Keywords: | Banks & Banking Reform,Financial Intermediation,Financial Crisis Management & Restructuring,Insurance & Risk Mitigation,Non Bank Financial Institutions |
| Date: | 2006–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:3969&r=cwa |
| By: | Lesia Nedoluzhko (Max Planck Institute for Demographic Research, Rostock, Germany); Gunnar Andersson (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | In this paper, we investigate the reproductive behavior of young women and men in Kyrgyzstan, with special emphasis on the demographic adjustment strategies of internal migrants in this post-Soviet Central Asian republic. We employ event-history techniques to data from the “Marriage, Fertility, and Migration” survey conducted in northern Kyrgyzstan in 2005 to estimate relative risks of becoming a parent. We demonstrate to what extent migration is part of the family building process and how it is related to elevated parenthood risks shortly after resettlement. We gain additional insight by information on factors such as the geographical destination of migration, and of retrospectively stated motives for the move. In addition, we reveal clear ethnic differences in the timing of entry into parenthood in Kyrgyzstan. |
| Keywords: | Kyrgyzstan, fertility, migration |
| JEL: | J1 Z0 |
| Date: | 2006–07 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2006-020&r=cwa |