|
on Central and Western Asia |
|
Issue of 2011‒08‒09
eleven papers chosen by Bibhu Prasad Nayak Institute for Social and Economic Change |
| By: | Baele, Lieven; Farooq, Moazzam; Ongena, Steven |
| Abstract: | Do religious beliefs affect real economic decisions? We investigate this fundamental question by comparing default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on conventional loans. The evidence comes from a variety of specifications that contain pertinent combinations of time-varying borrower, loan contract and bank characteristics, and time, borrower, bank and borrower*bank fixed effects. For the same borrower taking both conventional and Islamic loans from the same bank, the hazard rate on Islamic loans drops to one fifth the hazard rate on conventional loans. Islamic loans are less likely to default during Ramadan and in big cities if the share of votes to religious-political parties increases, suggesting that religion--either through individual piousness or network effects--may play a role in determining loan default. |
| Keywords: | Duration Analysis; Islamic Loans; Loan Default; Religion |
| JEL: | A13 G21 G32 G33 Z12 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:8504&r=cwa |
| By: | Shahram Salavati (Faculty of business administration, Islamic Azad University, Tonekabon Branch, Iran); Noor Hazarina Hashim (Faculty of Management and Human Resource Development, Universiti Teknologi Malaysia) |
| Abstract: | This study investigates website adoption and performance among Iranian hotels. Using content analysis technique, this study identifies the presence of 28 website features on 57 Iranian hotels. The results found Iranian hotels are at very early stage of Internet adoption. E-commerce activities are very minimal among the Iranian hotels as none of the hotels provide online reservation. This study adds to the limited study of e-commerce and hospitality in Iran. |
| Keywords: | E-tourism, Website, Evaluation, Hotel, Iran |
| JEL: | M0 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:cms:2icb11:2011-149&r=cwa |
| By: | Korap, Levent |
| Abstract: | In this paper, the determinants of the Turkish trade balance are tried to be analyzed in an empirical modelling approach. For this purpose, the contemporaneous ARDL-based bounds testing has been used to examine the existence of a long run co-integration relationship between the variables of our interest. The estimation results indicate that real exchange rate depreciations improves the trade balance in a strong and significant way, that domestic real income affects the trade balance negatively, and that trade balance is strongly improved due to an increase in foreign real income. No significant effect of crude oil prices can be observed on trade balance. The error correction modeling gives results in line with the long run findings of the co-integration analysis. |
| Keywords: | Trade Balance; ARDL Bounds Testing Approach; Turkish Economy; |
| JEL: | C32 F10 F41 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:32550&r=cwa |
| By: | Shemyakina, Olga N. |
| Abstract: | Shortly following its independence in 1991, Tajikistan suffered a violent civil war. This study explores the effect of this conflict on education and labor market outcomes for men and women. The results are based on the data from the 2003 and 2007 Tajik Living Standards Measurement Surveys that were separated from the 1992-1998 Tajik civil war by five and nine years, respectively. The regression analysis that controls for the cohort and regional-level exposure points toward a persistent and lasting gap in the educational attainment by women who were of school age during the war and lived in the more conflict-affected regions as compared with women the same age who lived in the lesser affected regions and also to the older generation. These empirical results support the anecdotal and observational evidence about the decline in female educational attainment in Tajikistan. Interestingly, this group of young women is more likely to hold a job as compared with the rest of the analytical sample. Conditional on being employed, men and women in the more conflict-affected areas do not receive wages that are significantly different from wages received by men and women in the lesser affected areas. |
| Keywords: | Population Policies,Labor Markets,Gender and Development,Labor Policies,Population&Development |
| Date: | 2011–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:5738&r=cwa |
| By: | Duha T. Altindag; Junyue Xu |
| Abstract: | This paper demonstrates that institutional factors influence the subjective well-being of individuals differently in rich versus poor countries. A lower level of corruption, a more democratic government and better civil rights increase the well-being of individuals in rich countries, whereas an increase in per capita income has no impact. On the contrary, in poor countries the extent of corruption, democracy and civil rights has no influence on happiness, but an increase in per capita income impacts happiness positively. This stark contrast may be due to the difference of preferences over income and institutional factors. |
| Keywords: | Economic Development; Happiness; Subjective Well-Being; Institutions |
| JEL: | I31 D60 D73 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:abn:wpaper:auwp2011-08&r=cwa |
| By: | Yallwe, Hagos Alem; Buscemi, Antonino |
| Abstract: | The paper summarized some theories and facts related to Environment, Energy and Economics. This work paper provides some highlights about the theoretical issues and facts regarding to environmental pollutions and its effect on economy and the importance of relying on other source energy to fulfil the increasing demand of power or electricity. Moreover, the paper also discussed by making comparison between industrialized and developing countries about their effect on environment and their capacity in producing nuclear energy and production level and also the link between environmental science and economics. This paper concluded that the industrialized countries are not fulfilling their commitments. About 7 Billion Metric Tons of carbon equivalent harmful greenhouse gases are omitted by industrialized countries every year and the share of U.S.A is 24% followed by Japan & Developed European Nations which accounts 26%. Whereas developing nations contributes 13% other than china. Currently only eight countries are known to have a nuclear weapons capability and sixty further nuclear power reactors are under construction, equivalent to 17% of existing capacity, while over 150 are firmly planned, equivalent to 46% of present capacity. Sixteen countries depend on nuclear power for at least a quarter of their electricity. From developed countries, France is the first country that gets around three quarters of its power from nuclear energy. Whereas most developing countries under design and some of them have small share as compared to industrialized countries. After the disaster in Japan, many countries have changed policies on the implementation of nuclear power plants. In addition, the Italian Parliament was suspended for one year, the work of approving projects on the production of energy through nuclear power plants. |
| Keywords: | Environment; Economics; Energy; |
| JEL: | A12 N5 N7 |
| Date: | 2011–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:32216&r=cwa |
| By: | Maka Chitanava; Maya Grigolia; Lasha Labadze |
| Abstract: | After years of stagnation and political cataclysms, Georgia tried to recover by launching radical economic and political reforms starting in 2004. The results of the reforms appeared to be impressive. The country’s GDP has more than doubled; the total volume of bank deposits is five times what it used to be. Key international indices (Doing Business Index, Economic Freedom Index, Corruption Perception Index) have also reflected the success of the reforms. The occupation of the Georgian territories by Russia in August 2008 and the global financial crisis have significantly changed the current macroeconomic environment in Georgia. The August conflict undermined investor and consumer confidence, put pressure on public finances, damaged physical and other infrastructure and undermined the banking system with a large volume of deposit withdrawals. The deepening of the international financial crisis put further pressure on currency and foreign investments. The purpose of this paper is to consider the nature and magnitude of the impact of the global financial crisis on Georgia’s social services sector and on the country’s economy as a whole. The global financial crisis had a sharp impact on the most disadvantaged members of the society. The main objectives of the paper are to describe to what extent the education and healthcare sectors were affected in Georgia and to investigate how government policies have addressed the problems which arose due to the financial crisis. |
| Keywords: | Georgia, Education, Health Care Sector, Public Service Delivery, Development During the Financial Crisis, Financial Crisis in Georgia, Georgia’s education sector, Georgia’s health sector, Georgia’s macro indicators, Financial aid |
| JEL: | H11 H51 H52 I11 I12 I18 I21 I22 I28 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:sec:cnrepo:0101&r=cwa |
| By: | Cho, Yoonyoung |
| Abstract: | The informal sector is generally believed to be more vulnerable to various risks due to limited access to social insurance, but little empirical evidence exists to support this statement. This paper examines the relationship between informality and protection from health risks in Yemen. The formal sector, when defined based on pension coverage, largely overlaps with public employment where the better educated, more experienced, and better informed tend to work. The results indicate that, even after accounting for socio-economic status, water supply and quality conditions, risky behavior patterns, and unobserved heterogeneity, formal sector households have better accessibility and affordability to health service. This may in part explain better health outcomes among formal households, although large heterogeneity across regions (urban/rural) exists. However, the role of the existing health insurance is found to be unclear. The findings reconfirm the importance of policies that promote universal access to health service and a risk pooling avenue delinked from employment types as well as healthy living conditions and lifestyles. |
| Keywords: | Health Monitoring&Evaluation,Health Systems Development&Reform,Safety Nets and Transfers,Labor Markets,Health Economics&Finance |
| Date: | 2011–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:5746&r=cwa |
| By: | Wendler, Cordula; von Cramon-Taubadel, Stephan; de Haen, Hartwig; Padilla Bravo, Carlos Antonio; Jrad, Samir |
| Abstract: | -- |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:daredp:1106&r=cwa |
| By: | Sağlam, Yiğit |
| Abstract: | In many countries, current water-pricing policies are dictated by the sole objective of breaking-even in each period. This results in large withdrawals, which are not sustainable in the long-run, hence not optimal. In this paper, I derive the optimal dynamic water resource management policy of a benevolent government, which supplies water to households and agriculture. I compare the efficiency implications of the current and the optimal pricing policies using simulations. I endogenize crop-choice decisions and estimate the changes in the crop composition with the generalized method of moments. Using data from Turkey, I nd that, under the policy of break-even prices, the average number of years before the government runs into the water shortage, when it cannot meet the sectoral demands, is eight years. In contrast, if the government were to choose water prices optimally, then water shortages would be practically nonexistent over the next century. |
| Keywords: | Ramsey Pricing, Water Shortages, Water Pricing, Dynamic Programming, Irrigation, |
| Date: | 2011–02–18 |
| URL: | http://d.repec.org/n?u=RePEc:vuw:vuwecf:1534&r=cwa |
| By: | Gani Aldashev (Center for Research in the Economics of Development, University of Namur); Catherine Guirkinger (Center for Research in the Economics of Development, University of Namur) |
| Abstract: | We study the impact of a large-scale economic crisis on gender equality, using historical data from Kazakhstan in the late 19th – early 20th century. We focus on sex ratios (number of women per man) in Kazakh nomadic population between 1898 and 1908, in the midst of large-scale Russian in-migration into Kazakhstan that caused a sharp exogenous increase in land pressure. The resulting severe economic crisis made the nomadic organization of the Kazakh economy unsustainable and forced most Kazakh households into sedentary agriculture. Using a large novel dataset constructed from Russian colonial expedition materials, we document a low and worsening sex ratio (in particular, among poor households) between 1898 and 1908. The theoretical hypothesis that garners most support is that of excess female mortality in poorer households (especially among adults), driven by gender discrimination within households under the increasing pressure for scarce food resources. |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:nam:wpaper:1111&r=cwa |