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on Central and Western Asia |
| By: | Borooah, Vani /K |
| Abstract: | The “social gradient to health” - whereby people belonging to groups higher up the social ladder had better health outcomes than those belonging to groups further down - is essentially a Western construct; there has been very little investigation into whether, in developing countries also, people’s state of health is dependent on their social status. The purpose of this paper is to evaluate the relative strengths of economic and social status in determining the health status of persons in India. In other words, even after controlling for non-community factors, did the fact that Indians belonged to different social groups, encapsulating different degrees of social status, exercise a significant influence on the state of their health? The existence of a social group effect would suggest that there was a “social gradient” to health outcomes in India. Furthermore, there was the possibility that the “social gradient” existed with respect to some outcomes but not to others. In investigating this, the paper addresses, in the Indian context, an issue which les at the heart of social epidemiology: estimating the relative strengths of individual and social factors in determining health outcomes. |
| Keywords: | Health outcomes; Caste; Religion; India |
| JEL: | I12 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19832&r=cwa |
| By: | D., Suresh Kumar |
| Abstract: | Institution building is now recognized as vital for poverty reduction across the world. This paper focuses on the determinants of participation in Self-Help Groups and impacts on household welfare. The participation in SHG activities are influenced by various household level and contextual factors. Our results support that the public policies geared towards increasing women’s participation in SHGs generate substantial income and have significance in household welfare. The quantity and quality of food consumed, the health of household members, and children’s education have improved. Thus, the institution building contributes greatly to improving household welfare. Therefore, continuing public support for the expansion of these SHGs appears crucial to achieve poverty reduction. |
| Keywords: | Institutions; Self-Help Groups; Impacts; Women Participation; South India |
| JEL: | Z13 R2 |
| Date: | 2009–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19943&r=cwa |
| By: | Oya Pinar Ardic; Burcay Erus; Gurcan Soydan |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:bou:wpaper:2010/01&r=cwa |
| By: | Das, Khanindra Ch. |
| Abstract: | Financial development has been correlated with better development outcomes. Even so, the access dimension of financial development has often been overlooked. In this context, the paper throws initial light on the nuances of horizontal inequality in the access to finance from institutional sources and development outcomes such as poverty, educational attainment and standard of living in rural area for Indian states. It is seen that the percentage of rural households getting access to finance from institutional agencies has remained considerably low and there is significant variation across states. More importantly, there is significant amount of horizontal inequality in the access to finance from institutional sources. Interestingly, better access to finance is found to be associated with better development outcomes. The most important finding of the paper is that lower (higher) inequality in the access to finance from institutional sources is associated with better (worse) development outcomes. |
| Keywords: | access to finance; development; horizontal inequality; rural household |
| JEL: | O18 D63 O16 R20 |
| Date: | 2009–08–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20033&r=cwa |
| By: | Tamvada, Jagannadha Pawan |
| Abstract: | We examine the spatio-temporal dynamics of self-employment in India using geoadditive models and pseudo panel techniques. We test the claim of Iyigun and Owen (1999) that individuals invest in professional human capital and not in entrepreneurial human capital as an economy develops. The results suggest that in non-agriculture, higher education decreases the likelihood of individuals choosing self-employment over time; however, it has an opposite effect in agriculture. While increases in land possessed increase the likelihood of self-employment choice in agriculture, individuals with small land holdings are more likely to transition into self-employment in non-agriculture. Belonging to a backward class has a negative effect on self-employment choice in both sectors; however, the effect has increased in non-agriculture and remained stable in agriculture. The geoadditive models suggest that the propensity to be self-employed has decreased across most spatial units, although there are few pockets where self-employment is rising again. |
| Keywords: | Entrepreneurship; Self-employment; Developing Countries; Dynamics; Pseudo Panels |
| JEL: | J24 L26 J23 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20042&r=cwa |
| By: | Peter Cramton (Economics Department, University of Maryland); Steven Stoft |
| Abstract: | Developing countries justifiably reject meaningful emission targets. This prevents the Kyoto Protocol from establishing a global price for greenhouse gas emissions, and leaves almost all new emissions unpriced. This paper proposes a new pair of commitments—a commitment to a binding carbon-price target and to a Green Fund financed by a form of carbon pricing. The result is global carbon pricing that neither requires developing countries to accept emission caps nor requires industrial countries to accept carbon taxes. The cost of complying with these commitments is subject to far less risk than the cost of an emissions cap, and the combined cost of a $30/ton price target and the Green Fund is only 23 cents per person per day for the United States and is negative for India. The combined advantages should significantly increase the chance that developing countries will commit to a substantial carbon price, and this should increase the chance of cap and trade passing the U.S. Senate. |
| Keywords: | Climate change, carbon pricing, cap and trade, carbon auctions |
| JEL: | Q54 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:pcc:pccumd:10pbcc&r=cwa |
| By: | Shaikh, Salman |
| Abstract: | This paper looks at the practiced Islamic finance and alternatives it offers for corporate finance managers in sourcing funds i.e. i) Ijara ii) Murabaha iii) equity modes like Musharakah and Mudarabah iv) Diminishing Musharakah, v) Salam and vi) Istisna. It also looks at alternatives for sourcing funds from savers to provide financing thereof by financialintermediaries i.e. i) Qard-e-Hasan ii) Musharakah and iii) Mudarabah. The paper also gives a brief account of literature on Islamic corporate finance, interest free finance, alternatives suggested in the past and their pros and cons, role of central bank in Islamic finance and alternatives for OMO, Interbank lending and money market in Islamic finance. |
| Keywords: | Islamic corporate finance; pricing of capital; interest free finance; Interest; Interest free economy; Usury; Time value of money; Riba; Musharakah; Mudarabah; Ijara; Salam; Istisna; Qard-e-Hasan; Diminishing Musharakah |
| JEL: | G10 G30 G21 |
| Date: | 2010–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19458&r=cwa |
| By: | Sule Akkoyunlu (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | We investigate in this paper whether the stable pattern of remittances over the last three decades can be explained by the altruistic behaviour. This possibility is tested by means of cointegration analysis, which is applied to Turkish remittances from Germany over the period 1962-2005. A single cointegrating relationship is found between the remittances of Turkish workers in Germany and the real Turkish GDP per capita, the real German GDP per capita, the stock of Turkish migrants in Germany, the real exchange rate, and the government instability. The negative coefficient associated with Turkish income and positive coefficients on the real exchange rate and political instability support the claim that Turkish remittances from Germany are altruistically motivated. In addition, we find that the coefficient on the stock of Turkish migrants to be equal to one. |
| Keywords: | Migration, Remittances, Alturism, Cointegration |
| JEL: | C22 F22 F24 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:10-246&r=cwa |
| By: | Loayza, Norman V.; Odawara, Rei |
| Abstract: | In the past half a century, Egypt has experienced remarkable progress in the provision of infrastructure in all areas, including transportation, telecommunication, power generation, and water and sanitation. Judging from an international perspective, Egypt has achieved an infrastructure status that closely corresponds to what could be expected given its national income level. The present infrastructure status is the result of decades of purposeful investment. In the past 15 years, however, a worrisome trend has emerged: Infrastructure investment has suffered a substantial decline, which may be at odds with the country’s goals of raising economic growth. Improving infrastructure in Egypt would require a combination of larger infrastructure expenditures and more efficient investment. The analysis provided in this paper suggests that an increase in infrastructure expenditures from 5 to 6 percent of gross domestic product would raise the annual per capita growth rate of gross domestic product by about 0.5 percentage points in a decade’s time and 1 percentage point by the third decade. If the increase in infrastructure investment did not imply a heavier government burden (for instance, by cutting down on inefficient expenditures), the corresponding increase in growth of per capita gross domestic product would be substantially larger, in fact twice as large by the end of the first decade. This highlights the importance of considering renewed infrastructure investment in the larger context of public sector reform. |
| Keywords: | Transport Economics Policy&Planning,Public Sector Economics,Non Bank Financial Institutions,Debt Markets,Economic Theory&Research |
| Date: | 2010–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:5177&r=cwa |
| By: | Shaikh, Salman |
| Abstract: | This paper reviews limited, but precious academic literature on central banking and monetary management in Islamic finance. It discusses the building blocks of an Islamic monetary system. It discusses how savings would feature despite discontinuation of interest, how inflation will be checked with central banks not having at its disposal conventional OMO, how liquidity will be managed in banking sector when central bank wants to inject liquidity or mop up funds. How and to what extent the institution of Zakat would enable the government to meet its fiscal targets and does not crowd out private sector. How balance of payments and exchange rate stability can be managed in an interest free economy. If in the short term, the government or central bank needs alternative source of revenue other than Zakat, they can issue GDP linked bonds. This could replace T-bill and provide a base instrument for OMO and liquidity management in the banking and financial sector. |
| Keywords: | Islamic corporate finance; pricing of capital; interest free finance; Interest; Interest free economy; Usury; Time value of money; Riba; Musharakah; Mudarabah; Ijara; Salam; Istisna; Qard-e-Hasan; Diminishing Musharakah |
| JEL: | E42 E52 E60 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20029&r=cwa |
| By: | Peter Cramton (Economics Department, University of Maryland); Steven Stoft |
| Abstract: | Developing countries reject meaningful emission targets (recent intensity caps are no exception), while many industrialized countries insist that developing countries accept them. This impasse has prevented the Kyoto Protocol from establishing a global price for greenhouse gas emissions. This paper presents a solution to this dilemma—allow countries to commit to a binding global carbon-price target. This commitment could be met by cap and trade, a carbon tax, or any combination. This would allow developing countries to accept the same carbon price as the most advanced countries instead of accepting a cap that is as low as U.S. emissions in the 1800s. And it would allow the U.S. and the E.U. to keep their cap and trade schemes. The paper defines a carbon-price target, and shows how compliance could be induced using both carrots and sticks. We also demonstrate that carbon pricing can be guaranteed to be inexpensive under a carbon-price target. A Green Fund is suggested that reinforces rather than subverts cooperation on global carbon pricing. The combined cost of a $30/ton price target and the Green Fund is only 23 cents per person per day for the United States and is negative for India. Together, these advantages should greatly increase the chance that developing countries will commit to a substantial carbon price, and this should increase the chance of cap and trade passing the U.S. Senate. Such a policy would also reduce the world oil price. For China and the United States, this savings might well cover the full cost of the proposed initial climate agreement. |
| Keywords: | Climate change, carbon pricing, cap and trade, carbon auctions |
| JEL: | Q54 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:pcc:pccumd:09gcp&r=cwa |
| By: | Pirtea , Marilen; Dima, Bogdan; Milos, Laura Raisa |
| Abstract: | There is a growing literature body which examines the connections between financial status and economic growth. The aim of this paper is to examine the mechanism through which this positive connection is realized. The methodology is based on a pool data regression with dynamic of real GDP as dependent variable and some key variables of the financial sector. The main output of our study consists in the thesis that the financial status matter for the economic growth. |
| Keywords: | finance; growth; cost of capital; yield |
| JEL: | G10 |
| Date: | 2009–11–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20085&r=cwa |
| By: | Detotto, Claudio; Pulina, Manuela |
| Abstract: | This paper aims at assessing how offenders allocate their effort amongst several crime typologies. Specifically, complementary and substitution effects are tested amongst number of recorded crimes. Furthermore, the extent to which crime is detrimental for economic growth is also tested. The case study is Italy and the time span under analysis is from 1981:1 up to 2004:4. A Vector Autoregressive Correction Mechanism (VECM) is employed after having assessed the integration and cointegration status of the variables under investigation. The main findings are that a bi-directional complementary effect exists between drug related crimes and receiving, whereas a bi-directional substitution effect is detected between robberies, extortions and kidnapping and homicides and falsity, respectively. Furthermore, economic growth produces a positive effect on the growth of homicides, receiving and drug related crimes; while, the growth in robberies, extortion and kidnapping and falsity have a crowding-out effect on economic growth. |
| Keywords: | Crime; substitution and complementary effect; economic growth; crowding-out effect |
| JEL: | C32 E24 K14 |
| Date: | 2010–01–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20046&r=cwa |
| By: | Mason, Patrick L. |
| Abstract: | This study examines whether there is differential productivity associated with teachers trained within Florida Agricultural & Mechanical University’s college of education relative to teachers trained in other colleges and schools affiliated with the same university. We also examined whether there is differential productivity associated with alternative majors within and between the college of education and other academic units. We measure the productivity of a teacher by the educational achievement of pupils assigned to that teacher during a given year. We find that among pupils taught by recent graduates of FAMU, there is greater academic achievement among elementary school pupils taught by a teacher with a college major in elementary education than among elementary school pupils taught by a teacher with a college major in either secondary education or a non-education subject area. However, relative to secondary education and non-education majors, elementary education majors provide less value-added in middle school and high school. |
| Keywords: | teacher quality; value-added model; historically black colleges and universities; HBCU; teacher productivity; education and value-added |
| JEL: | J45 I2 J44 J15 J48 |
| Date: | 2010–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20060&r=cwa |
| By: | Gabriel J. Felbermayr; Benjamin Jung; Farid Toubal |
| Abstract: | Influential empirical work by Rauch and Trindade (REStat, 2002) finds that Chinese ethnic networks of the magnitude observed in Southeast Asia increase bilateral trade by at least 60%. We argue that this estimate is upward biased due to omitted variable bias. Moreover, it is partly related to a preference effect rather than to enforcement and/or the availability of information. Applying a theory-based gravity model to ethnicity data for 1980 and 1990, and focusing on pure network effects, we find that the Chinese network leads to a more modest amount of trade creation of about 15%. Using new data on bilateral stocks of migrants from the World Bank for the year of 2000, we extend the analysis to all potential ethnic networks. We find, i.a., evidence for a Polish, a Turkish, a Mexican, or a Pakistani network. While confirming the existence of a Chinese network, its trade creating potential is dwarfed by other ethnic networks. The large heterogeneity in the trade-creating potential of different networks is, among other things, explained by the share of high-skilled immigrants, the degree of ethnic fragmentation, and GDP per capita. |
| Keywords: | Gravity model; international trade; network effects; international migration |
| JEL: | F12 F22 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2009-30&r=cwa |
| By: | Maria Bas |
| Abstract: | We investigate the effect of different channels through which input trade liberalization affects firms’ export decisions. We develop a trade model with heterogeneous firms and sectors of varying imported input intensity that reproduces different mechanisms through which the access to foreign inputs affects the performance of domestic firms. In industries with lower input tariffs (or more intensive in imported intermediate goods), more firms become exporters and export larger volumes. The effect of firm productivity on export status and export sales is greater for firms producing in these industries. The export selection process is reinforced by the access to foreign inputs. We provide strong empirical evidence in support of these theoretical predictions based on plant-level panel data from Argentina (1992-2001) and Chile (1990-1999). Our findings suggest that the impact of firm productivity on the probability of exporting and on the volume of exports is more pronounced for firms producing in industries that have a greater access to foreign inputs. |
| Keywords: | Firm heterogeneity; input trade liberalization; foreign intermediate goods; firm productivity and plant panel data |
| JEL: | F10 F12 F41 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2009-35&r=cwa |
| By: | EL ELJ, Moez |
| Abstract: | In the context of economic globalization and of the internationalization of R&D activity, innovation is becoming one of the most important assets for corporations in developed and emerging countries as well. The aim of this research is to analyze the main determinants of technological innovation of Tunisian firms on the basis of the innovation survey conducted by Tunisian Ministry of Scientific Research, Technology and Skills Development in 2005. Precisely, we analyze the effects of the external technological factors and In house R&D effort variables on innovation performances of Tunisian firms. We, then attempt to explore these relationships and see if they are affected by other moderator variables linked to exportation intensity and foreign capital share. In our estimation, we utilize the binomial logit model. Our preliminary results show that R&D activity is not the only explanatory factor of the innovation. In addition, Tunisian firms with high export ratio as well as firms with significant foreign capital participation are found to be not innovating since they depend primarily on the innovations conducted abroad. |
| Keywords: | Technological Innovation; Technological opportunities; R&D in Developing Countries; Logit Regression with Interactive variables |
| JEL: | O55 O33 O31 C25 |
| Date: | 2009–10–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:18128&r=cwa |