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on Central and Western Asia |
| By: | Brück, Tilman (Humboldt University Berlin); Esenaliev, Damir (DIW Berlin); Kroeger, Antje (DIW Berlin); Kudebayeva, Alma (KIMEP); Mirkasimov, Bakhrom (DIW Berlin); Steiner, Susan (DIW Berlin) |
| Abstract: | This paper summarizes the micro‐level survey evidence from Central Asia generated and analyzed between 1991 and 2012. We provide an exhaustive overview over all accessible individual and household‐level surveys undertaken in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan ‐ and of all English‐language academic papers published using these datasets. We argue that Central Asia is a fascinating region for the study of comparative economics given its dual experience of transition and development. However, the region is also understudied, in part due to lack of data, and especially due to a lack of panel data. We identify knowledge gaps caused from this lack of longitudinal surveys and suggest worthwhile areas for future research. Finally, we also present the new and novel individual‐level panel dataset called "Life in Kyrgyzstan". |
| Keywords: | survey data, poverty, labor force participation, Central Asia |
| JEL: | O12 I32 J22 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7055&r=cwa |
| By: | Toshikatsu Aoyama (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan) |
| Abstract: | I was in charge of the United Nations Conference on Trade and Development (UNCTAD) as a mission of the Ministry of Foreign Affairs of Japan in the second half of 1980's. At that time, the UNCTAD played a central role on economic problem of developing countries, particularly that of primary commodities. Through this experience, I took notice of the subjects concerning economic difficulties surrounding developing countries. After a great war, many developing countries have achieved their independence shaking off the political restriction. However, in reality, they were still suffering from economic difficulties and fumbling about how to take off for their economies with a view to realizing their actual economic independence. The economic disparities among developed and developing countries has been more and more widening in progress of globalization towards the 21st century. Therefore, the purpose of this article is to identify the reasons why the economic disparities expanded by pursuing the historical events of the international economic regencies, such as the Newly International Economic Order (NIEO) in 1974, the Integrated Program for Commodities (IPC) in 1076, the Dollar-Shock in 1971, and the First and Second Oil crises in 1973 and 1979, which finally led to speculative transactions of trade and a stream of globalization. |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2012-32&r=cwa |
| By: | Maddaremmeng A. Panennungi (APEC Study Centre of University of Indonesia and Faculty of Economics University of Indonesia); Rahadjeng Pulungsari (APEC Study Centre of University of Indonesia and Faculty of Humanities University of Indonesia); Evi Fitriani (APEC Study Centre of University of Indonesia and Faculty of Social and Political Science University of Indonesia); Lily Tjahjandari (APEC Study Centre of University of Indonesia and Faculty of Humanities University of Indonesia); Surjadi (APEC Study Centre of University of Indonesia and Faculty of Economics University of Indonesia); Padang Wicaksono (APEC Study Centre of University of Indonesia and Faculty of Economics University of Indonesia) |
| Abstract: | APEC (Asia-Pacific Economic Cooperation) is one of the international economic cooperation which was established 1989. In the beginning of APEC, it was focused only for economic issues, especially related to the trade and investment; however, overtime the issues in APEC have moved into the non-economic issues. This study is aimed to analyze the development issues in APEC, in particular: first, analyzing the process and factor that affect the issues in APEC; second, mapping or grouping issues in APEC that accumulated from 1989 until 2010; third, analyze the potential agenda of APEC meeting in Indonesia 2013. Methods of data collection and information are based on literature studies of APEC meeting documents, interviews with resource persons from within and outside the Indonesia, and Focus Group Discussions (FGD of stakeholders). Method of analysis is based on descriptive analysis and simple statistics. Some findings are: First, issues development in APEC are influenced by two factors:(i) the events or factors related to the development of economic, social, political, and security in global, regional of APEC and APEC host country; (ii) the role of agents that bring the issues to the APEC also plays an important role apart from the government of a country/economy are PECC (Pacific Economic Cooperation Council), ASEAN (Association Southeast Asian Nations), WTO (World Trade Organization), ABAC (APEC Business Advisory Council), ASCC (APEC Study Centre Consortium), EPG (Eminent Persons Group) and PBF (Pacific Business Forum). Second, even though the issues are very broad in APEC which moves from the economic into broader of non-economic issues, the issues are still focused on the achievement of the APEC economic integration, particularly related to the Bogor Goals, as the nucleus of the whole issues. Third, all issues that evolved in APEC are part of the development issues in Indonesia in general; however, from the official documentation development plan document in Indonesia during the period, attention to issues in economic in the APEC begins to decline during the crisis and reform in Indonesia. By putting attention of the latest of issues development in APEC, the possible specific agendas of Indonesia in 2013 summit are inclusive economic growth (developments), connectivity (especially related to infrastructures), and blue economy (especially related to ocean related). All those agendas are inter-related issues of developments that have been developed since the establishment of APEC. |
| Keywords: | APEC, Economic Integration, Non-Economic Issues |
| JEL: | F0 F15 F55 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:lpe:wpecbs:201211&r=cwa |
| By: | Coulibaly, Souleymane |
| Abstract: | Eurasian cities, unique in the global spatial landscape, were part of the world's largest experiment in urban development. The challenges they now face because of their history offer valuable lessons to urban planners and policymakers across the world from places that are still urbanizing to those already urbanized. Today, Eurasian cities must respond to three big changes: the breakup of the Soviet Union, the return of the market as the driving force of society, and the emergence of regional powers such as the European Union, China, and India that are competing with the Russian Federation for markets and influence in its former satellites. Several methods of analysis indicate an imbalance across Eurasia, implying a need to readjust Eurasia's urban structure. National policies in Eurasia are still preoccupied with spatial equity. But the concentration of economic activity in large cities is fundamental to national competitive advantage: they foster innovation through their diversity of industries -- and reduce production costs through their economies of scale. This paper suggests some ideas on how policymakers can harness the economic power of cities to drive national economic development, by focusing on four themes: planning, connecting, greening, and financing cities. |
| Keywords: | Transport Economics Policy&Planning,Environmental Economics&Policies,City Development Strategies,Banks&Banking Reform,Housing&Human Habitats |
| Date: | 2012–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6292&r=cwa |
| By: | Uwe Neumann; Rüdiger Budde; Christoph Ehlert |
| Abstract: | This paper examines what regional characteristics drove urban economic growth in Europe during the past decade. Possible impacts on the new member states in Central Europe due to expansion of the European Union are accounted for by comparison between two periods, before and after 2004. With a focus on cities, a more precise view of Europe-wide regional disparities and their development can be provided than by research based on larger territories, which prevails in the empirical literature on regional convergence. After 2004, economic growth accelerated considerably in the least developed peripheral regions and in the wealthier capital cities of Central European countries. In the medium term, however, no equalisation of disparities within Europe can be exptected. The analysis suggests that economic prosperity in Central Europe and in other parts of Europe depends on the performance of urban “growth poles” favouring regional innovation. This implies that it is a task of regional policy to support provision of a high-quality infrastructure for education and innovation in cities and to encourage utilisation of these facilities within wider regions. |
| Keywords: | Spatial economics; urban economics; EU enlargement |
| JEL: | R11 R12 C21 C23 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0384&r=cwa |
| By: | Köhler, Matthias |
| Abstract: | In this paper, we analyze the impact of loan growth and business model on bank risk in 15 EU countries. In contrast to the literature, we include a large number of unlisted banks in our sample which represent the majority of banks in the EU. We show that banks with high rates of loan growth are more risky. Moreover, we find that banks will become more stable if they increase their non-interest income share due to a better diversification of income sources. The effect, however, decreases with bank size possibly because large banks are more active in volatile trading and off-balance sheet activities such as securitization that allow them to increase their leverage. Our results further indicate that banks become more risky if aggregate credit growth is excessive. This even affects those banks that do not exhibit high rates of individual loan growth compared to their competitors. Overall, our results indicate that differences in the lending activities and business models of banks help to identify risks, which would only materialize in the long-term or in the event of a shock. -- |
| Keywords: | banks,risk-taking,business model,loan growth |
| JEL: | G20 G21 G28 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bubdps:332012&r=cwa |
| By: | Metin Cosgel (University of Connecticut) |
| Abstract: | There appear to be two seemingly contradictory images of law and economic change in the Islamic world. Whereas some scholars have viewed Islamic societies as rigid and incapable of adapting to a changing environment, others have held the opposite image of Islamic societies as flexible, quick to adapt to change, and conducive to economic development. Researchers have often focused on either stagnation or change as being the more representative image that needs explanation, rarely looking to explain why both images coexisted. Using a political economy approach, this paper explains the nuanced flexibility of Islamic law by focusing on the relationship between the ruler and the legal-religious community. This community has been an influential group in Islamic societies because of its power in the interpretation and adjudication of the law and its ability to confer legitimacy on the rulers. Change or stagnation has emerged as the outcome of the strategic interaction between the rulers and legal community, rather than from a fixed characteristic of Islamic societies or an intrinsic quality of a new development. |
| Keywords: | Islamic law, change, stagnation, technology, legal community, political economy |
| JEL: | D7 H2 H3 N7 O3 O5 P48 P5 Z12 |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:uct:uconnp:2012-44&r=cwa |
| By: | Roth, Alvin E. (Harvard University) |
| Abstract: | Interview conducted on 6 December 2012. |
| Keywords: | Market Design; |
| JEL: | C71 D02 |
| Date: | 2012–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:ris:nobelp:2012_003&r=cwa |
| By: | OECD |
| Abstract: | Export restrictions can be problematic if trading partners question either their conformity with international obligations or their possibly unintended negative impacts on others. Regulatory transparency can help. This paper examines how three multilateral environmental agreements (MEAs) incorporate transparency into their regulatory regimes: CITES (endangered species, especially tropical timber), the Basel Convention (hazardous e-waste), and the Kimberley Process (conflict diamonds). All three require producing countries to control exports of sensitive commodities, while allowing (Basel) or requiring consuming countries to control imports. Export and import restrictions are usually intended to affect relative prices, but in these three MEAs the ultimate objective is to limit the negative consequences, whether economic, environmental or societal, associated with improper exploitation of the covered commodities. In each case all trade in the target commodities ought to be covered, no export permits should be issued that do not meet the standards established by the MEA, and no imports should take place without the appropriate documentation. In order to have a consistent comparative basis for assessing the contribution of regulatory transparency to the success of these regimes, we use an analytic framework based on three major transparency principles: publication of the rules (the “right to know”); peer review by governments (monitoring and surveillance); and public engagement (reporting on results, and a role for non-governmental organisations, NGOs). The paper concludes with some observations about characteristics that appear to make transparency more or less effective. |
| JEL: | D7 F1 F5 L6 L7 Q2 Q3 Q5 Q53 |
| Date: | 2012–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaab:141-en&r=cwa |
| By: | Topp, Vernon (Productivity Commission); Kulys, Tony (Productivity Commission) |
| Abstract: | This staff working paper examines productivity trends in the Australian utilities industry and highlights some significant issues relating to the measurement and interpretation of changes in measured productivity over time. Multifactor productivity (MFP) growth in Australia's market sector has been considerably below average since 2003-04. Utilities (Electricity, Gas, Water and Waste services), have played a significant role in this, with MFP growth being strongly negative between 1997-98 and 2009-10 (MFP falling, on average, by 3.2 per cent per year). To better understand why, this study examined MFP at the subdivision level, with a particular focus on the two largest subdivisions - Electricity supply (ES), and Water supply, sewerage and drainage services (WSSD). MFP growth between 1997-98 and 2009-10 was negative for both ES (on average, -2.7 per cent per year) and WSSD (-4.3 per cent per year). This study highlights some of the challenges involved in measuring and interpreting estimates of MFP growth in utilities. A particular concern is the influence of changes in capacity utilisation arising from either cyclical investment patterns, or changes in the structure of electricity demand. Also, government policies, regulatory settings and external shocks (especially the weather) can impact on the quantity or quality of measured output, and on the choice of production technology, thereby influencing estimates of MFP. The views expressed in this paper are those of the authors and are not necessarily those of the Productivity Commission, or of the organisations or people who provided assistance. |
| Keywords: | productivity trends; measured productivity; utilities industry; electricity; gas; water; multifactor productivity (MFP) |
| JEL: | Q40 Q50 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:ris:prodsw:2012_001&r=cwa |
| By: | Schüller, Simone (IZA) |
| Abstract: | The major event of the 9/11 terror attacks is likely to have induced an increase in anti-immigrant and anti-foreigner sentiments, not only among US residents but also beyond US borders. Using longitudinal data from the German Socio-Economic Panel and exploiting exogenous variation in interview timing throughout 2001, I find that the terror attacks in the US caused an immediate shift of around 40 percent of one within standard deviation to more negative attitudes toward immigration and resulting in a considerable decrease in concerns over xenophobic hostility among the German population. Furthermore, in exploiting within-individual variation this quasi-experiment provides evidence on the role of education in moderating the negative terrorism shock. |
| Keywords: | immigration, attitudes, education, September 11, terrorism |
| JEL: | F22 I21 J61 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7052&r=cwa |
| By: | Ratti, Ronald (University of Western Sydney, School of Business); Vespignani, Joaquin (School of Economics and Finance, University of Tasmania) |
| Abstract: | Movement in China’s money supply drives the movement in world money supply over the last twenty years. Within the framework advanced by Kilian (2009) that identifies the supply and demand side factors driving oil price changes we introduce the influence of liquidity in China and other countries on oil price changes. Structural shocks are large for both G3 (U.S., Eurozone and Japan) real M2 and China’s real M2. However, the cumulative impact of real G3 M2 shocks on real oil prices is small in contrast to a large cumulative effect of China’s real M2 on the real price of crude oil. It is shown that increased liquidity in China relative to that in the U.S., Eurozone and Japan significantly raises real oil prices over 1996:1-2011:12. Following a sharp fall in real oil price in the last half of 2008, the cumulative impact of China’s real M2 on the real price of crude oil is particularly substantial in the recovery of oil price during 2009 from a low of $41.68 for January 2009. The analysis sheds light on the causes of movement in oil prices over the last twenty five years and in assessing the relative importance of China in the upsurge of the real price of crude oil. |
| Keywords: | Oil Price, China’s Global Influence, Oil Price and Liquidity |
| JEL: | E31 E32 Q43 |
| Date: | 2012–09–20 |
| URL: | http://d.repec.org/n?u=RePEc:tas:wpaper:15062&r=cwa |
| By: | Richard S. J. Tol (Department of Economics, University of Sussex, Brighton, United Kingdom; Institute for Environmental Studies, Vrije Universiteit, Amsterdam, Netherlands; Department of Spatial Economics, Vrije Universiteit, Amsterdam, Netherlands); Sharon Walsh (Economic and Social Research Institute, Dublin, Ireland) |
| Abstract: | We estimate grid level tourist numbers to Arctic Circle countries under a number of climate change scenarios. At present, the highest tourism volumes are found in Canada and most of the Scandinavian countries. In general, it appears that tourists are attracted to regions with better infrastructure and nicer cities. Under each climate change scenario, Russia sees a significant increase in tourist numbers because Russia is big, its climate is expected to show some improvement and it is relatively close to the growing markets of South and East Asia. A growth in tourist numbers is also projected for Canada and Alaska. While our simulations do not show a re-distribution of tourists within the Arctic under climate change, the volume is likely to increase. |
| Keywords: | Climate climate change; tourism; destination choice; arctic |
| JEL: | Q54 L83 |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susewp:5212&r=cwa |