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on Central and Western Asia |
| By: | Mallawaarachchi, Thilak |
| Keywords: | Crop Production/Industries, Production Economics, |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare93:147721&r=cwa |
| By: | Carter, Colin A.; MacLaren, Donald |
| Keywords: | International Relations/Trade, |
| Date: | 2013–04–23 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare94:148079&r=cwa |
| By: | Lindner, R. K . |
| Keywords: | Livestock Production/Industries, |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare94:148459&r=cwa |
| By: | Marco Patriarca; Anirban Chakraborti |
| Abstract: | We discuss several multi-agent models that have their origin in the kinetic exchange theory of statistical mechanics and have been recently applied to a variety of problems in the social sciences. This class of models can be easily adapted for simulations in areas other than physics, such as the modeling of income and wealth distributions in economics and opinion dynamics in sociology. |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1305.0768&r=cwa |
| By: | Daria Ciriaci (Inter-American Development Bank); Daniela Palma (Inter-American Development Bank) |
| Abstract: | The rise of knowledge-intensive business services (KIBS) may be considered as one of the decisive trends of economic evolution of industrialised countries in recent decades. This paper uses the concept of vertical integrated sectors and the subsystem approach to input-output matrix analysis to study the vertical integration of knowledge-based business services into manufacturing sectors. To date, companies increasingly rely on outside innovation for new products and processes and have become more active in licensing and selling results of their innovation to third parties. At the same time, they may rely on the marketing and financial consulting offered by third parties. As a consequence, considering manufacturing and KIBS as vertically inter-related sectors, the hypothesis of a virtuous circle can be expressed in the following way: the higher the degree of integration between KIBS and manufacturing sectors along what we could define as a ‘knowledge-based value chain’, the easier the knowledge diffusion and the competitiveness of the economic system as a whole. The study covers Germany, France, Italy, and the United Kingdom over the period 1995-2005. Results decisively support both the existence of structural differences among the countries considered, and a significant heterogeneity to the extent to which manufacturing outsources to knowledge-intensive business services. |
| Keywords: | Knowledge-intensive business services; subsystem approach; input-output analysis; knowledge diffusion |
| JEL: | L60 L84 O33 O32 P00 |
| Date: | 2012–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc71097&r=cwa |
| By: | Federica Alberti (Max Planck Institute of Economics, Jena) |
| Abstract: | We develop a model in which novelty and conformity motivate fashion behavior.Fashion cycles occur if conformity is not too high. The duration of fashion cycles depends on individual-specific conformity, novelty, and the number of available styles. The use of individual-specific novelty and conformity allows us to also identify fashion leaders. |
| Keywords: | Novelty, Conformity, Fashion |
| JEL: | B5 L1 D1 |
| Date: | 2013–04–24 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2013-019&r=cwa |
| By: | Linda Goldberg; Cédric Tille |
| Abstract: | We develop a theoretical model of international trade pricing in which individual exporters and importers bargain over the transaction price and exposure to exchange rate fluctuations. We find that the choice of price and invoicing currency reflects the full market structure, including the extent of fragmentation and the degree of heterogeneity across importers and across exporters. Our study shows that a party has a higher effective bargaining weight when it is large or more risk tolerant. A higher effective bargaining weight of importers relative to exporters in turn translates into lower import prices and greater exchange rate pass-through into import prices. We show the range of price and invoicing outcomes that arise under alternative market structures. Such structures matter not only for the outcome of specific exporter-importer transactions, but also for aggregate variables such as the average price, the average choice of invoicing currency, and the correlation between invoicing currency and the size of trade transactions |
| Keywords: | currency, invoicing, Exchange rate |
| JEL: | F30 F40 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:kie:kieliw:1839&r=cwa |
| By: | Florent Buisson (Centre d'Economie de la Sorbonne - Paris School of Economics) |
| Abstract: | I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption equals reference point for at least one good. The phenomenon intensity depends on the curvature of the utility curve. These results are consistent with several stylized facts which cannot be explained by the standard consumer theory. |
| Keywords: | Loss aversion, prospect theory. |
| JEL: | D03 D11 D83 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:13030&r=cwa |
| By: | Arthur Foch (Centre d'Economie de la Sorbonne) |
| Abstract: | This paper contributes to the literature examining the role played by donors' interests within International Financial Institutions by showing how the G7 and G10 countries manage to influence World Bank (WB) decisions to satisfy their interests. It demonstrates that the G7 and G10 meets the two conditions required to influence WB decisions: they form a unified group (1) possessing sufficient power (2). The main thrust of the argument is that the G7 and G10 provide opportunity for big countries to come together and unify their preferences regarding WB decisions. Referring to a new dataset I find conjunctions between the G7's declarations and the WB's decisions, primarily reflecting the G7's unity and influence over the WB. Then, relying on interviews with WB officials and an examination of WB formal and informal rules of governance, I show how G7 instructions provided outside the WB through declarations are relayed within to impact decisions. |
| Keywords: | World Bank, governance, informality, G10, power, influence. |
| JEL: | O16 O19 F35 F59 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:13035&r=cwa |
| By: | Aaron Chatterji; Edward L. Glaeser; William R. Kerr |
| Abstract: | This paper reviews recent academic work on the spatial concentration of entrepreneurship and innovation in the United States. We discuss rationales for the agglomeration of these activities and the economic consequences of clusters. We identify and discuss policies that are being pursued in the United States to encourage local entrepreneurship and innovation. While arguments exist for and against policy support of entrepreneurial clusters, our understanding of what works and how it works is quite limited. The best path forward involves extensive experimentation and careful evaluation. |
| JEL: | H70 L26 L52 L53 M13 O25 O38 R00 R10 R12 R50 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19013&r=cwa |
| By: | Alain Dupeyras; Neil MacCallum |
| Abstract: | Mature tourism economies need to regain competitiveness as a new source of growth. Active policies require a good understanding of the determinants of competitiveness. This measurement framework includes a short list of core and additional indicators to guide governments in their analysis of tourism competitiveness and to inform tourism policy development. This framework is to be considered by countries as a toolkit and a guide. Pilot testing of the indicators will drive the work forward. The report was reviewed and approved by the OECD Tourism Committee on 10 April 2013. |
| Date: | 2013–04–29 |
| URL: | http://d.repec.org/n?u=RePEc:oec:cfeaab:2013/2-en&r=cwa |
| By: | David Carey; Christopher Hill; Brian Kahin |
| Abstract: | The US innovation system has many strengths, including world class research universities and firms that thrive in innovation-intensive sectors. However, fissures have begun to appear, notably in the areas of human capital development, the patent system and manufacturing activity, while public investments in R&D and research universities are at risk of being curtailed by budget cuts. Revitalizing the dynamism of innovation has become a priority for US policymakers. To this end, it is important that federal and state governments sustain financial support for knowledge creation. The US workforce’s skills will need to be upgraded, especially in STEM fields, and measures taken to provide more favourable framework conditions for developing advanced manufacturing in the United States. While the recent patent reform is a big step in the right direction, patent reform needs to be taken further by ensuring that the legal standards for granting injunctive relief and damages awards for patent infringement reflect realistic business practices and the relative contributions of patented components of complex technologies.<P>Renforcer l'innovation aux États Unis<BR>Le système d’innovation des États-Unis possède de nombreux atouts, en particulier des universités de recherche de rang mondial et des entreprises dynamiques dans les secteurs à forte intensité d’innovation. Cependant, certaines failles commencent à apparaître, notamment en termes de formation du capital humain, de brevets et d’activité manufacturière, et les investissements publics en faveur de la R-D et des universités de recherche risquent de pâtir des réductions budgétaires. Pour les décideurs américains, réactiver la dynamique de l’innovation est devenu une priorité. À cette fin, il importe que le gouvernement fédéral et les exécutifs des États continuent de soutenir financièrement la création de connaissances. Il faudrait améliorer le niveau de qualification de la main-d’oeuvre, en particulier dans le domaine des sciences, de la technologie, de l’ingénierie et des mathématiques (STIM), et prendre des mesures pour assurer la mise en place de conditions-cadres plus favorables au développement de la fabrication de pointe. La récente réforme des brevets représente un grand pas dans la bonne direction, mais elle doit être poursuivie en garantissant qu’en cas d’atteinte à un brevet, les critères juridiques sur lesquels se fondent les tribunaux pour prendre des décisions conservatoires et accorder des dommages-intérêts reflètent les pratiques effectives des entreprises et les contributions relatives des composantes brevetées des technologies complexes. |
| Keywords: | innovation, entrepreneurship, patents, R&D, green innovation, knowledge spillovers, MFP growth, complex technologies, cluster, advanced manufacturing, tertiary education attainment, STEM, immigration Visa, R&E tax credit, innovation, entrepreneuriat, brevets, R&D, l'innovation verte, crédits d'impôt pour R&E, externalités de connaissances, croissance de la productivité multifactorielle (PMF), pôles d'entreprises, activités manufacturières de pointe, niveau d'éducation tertiaire, STIM, visa d'immigration |
| JEL: | I2 O3 |
| Date: | 2012–11–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1001-en&r=cwa |
| By: | Miglo, Anton |
| Abstract: | According to Graham and Harvey (2001), an immense gap exists between capital structure theories and practice. By analyzing students’ perception of capital structure theories and the differences between their opinion and that of the current CEO’s and managers this paper argues that this can be partially explained by current educational practices. Educators mostly focus on one or maybe two most popular theories and students have much smaller knowledge about other theories. Secondly educational practices favor trade-off theory to asymmetric information based theories. The paper provides some suggestions regarding capital structure education and future research. |
| Keywords: | capital structure education, trade-off theory, pecking-order theory, shareholders-bondholders conflict, life cycle theory, flexibility theory, debt and discipline |
| JEL: | G32 I21 I22 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46695&r=cwa |
| By: | Yang, Zhenzeng |
| Abstract: | This paper examines theoretically the impact of host intellectual property rights (IPR) protection and complexity on MNEs' investment decision to the South in order to explain why large amount of foreign direct investment (FDI) flows to low IPR protecting China and other emerging economies. There are two key assumptions, imitation cost are positively related to complexity and imitation cost is higher when imitating a product designed only for foreign market than those for host market. In the model, a strengthening of IPR protection in the South raises an MNE's profit and stimulates inward FDI and licensing simultaneously, and stronger IPR protection will also induce more higher complexity production transfered to the South. Furthermore, as cost-oriented FDI is less sensitive to host IPR protection, developing host countries with low IPR protection can attract relatively more cost-oriented FDI. The model implies that strengthening of IPR protection can help emerging economies attract more complex and market-oriented FDI. |
| Keywords: | Intellectual Property Rights, Licensing, Imitation, Multinational Enterprise, Foreign Direct Investment |
| JEL: | F21 F23 O33 O34 |
| Date: | 2013–05–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46734&r=cwa |
| By: | Nurrachmi , Rininta Nurrachmi; Abd Samad , Khairunnisa; Foughali, Ibrahim |
| Abstract: | SMEs have become key catalyst for economic development in Turkey. As the member of EU, SMEs in Turkey is open to borderless opportunities to trade in international market whereby it become major export to the European countries. However, the vulnerable of Turkey’s economic condition and other issues have cause difficulty to the SMEs to develop. Hence, this paper will observe the SME condition, its contribution to economic development in Turkey as well as to explore the constraints, issue and challenge. Also, it critically examine the improvement of SMEs particularly the Strategy & future perspectives in short, mid and & long term. The study employs “the kobayachi's micro & macro models” as research methodology. The finding of the study shows that, by employing the Micro analysis, SMEs in Turkey is confronting critical issues such as financial bottleneck, lack of marketing and innovative activities. However, there are many policies and strategic plans were embarked to support the bright future of SMEs in Turkey by way of short, mid and long term plan. |
| Keywords: | SME, Turkey, Development, Improvement |
| JEL: | O11 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46817&r=cwa |
| By: | Sinha, Pankaj; Singhal, Anushree |
| Abstract: | Allowing FDI in multi brand retailing has recently generated tremendous euphoria for some and fear for others. It is based on the notion that it will open floodgates for foreign retailers to invest and will change the retail landscape forever in India. The factors that attracted investment in India are stable economic policies, availability of cheap and quality human resources, and opportunities of new unexplored markets. Besides these factors, there are a number of macroeconomic factors that are expected to affect FDI in retail in India. Using the experiences of four other emerging economies- China, Indonesia, Brazil and Thailand, this research paper examines the relationship between FDI in retail and seven macroeconomic factors - Exchange rate (yoy%), Inflation (CPI), GDP growth, Index of Industrial Production, Trade Openness, Unemployment rate and Tax as a percentage of nominal GDP using quarterly data for the period starting from January 2000 to December 2012. The research has shown that the year 2009 was a more appropriate time in India to have policies in place to invite FDI in retail. It is observed that there has been no such case of domination of foreign retailers in past years of globalization wherever markets for global retailers have opened up. Only limited numbers of retailer had entered into these markets with lot of caution as they had soon realised that retail thrives on local knowledge rather than imitating and transplanting global retail strategy, concepts and formats. In major emerging countries, fewer foreign retailers had been successful while several failed due to their inability to gather customer insights, comprehend local nuances and fight local competition. In fact, in many countries the local retailers have better market shares, sizes and performances. The research findings also indicate that with the introduction of FDI in retail in India, there will be an initial displacement of middlemen from the supply chain. However, the organized retailing will induce an increase in the food processing sector and these middlemen will be absorbed by it. It is also expected that the government will take innovative measures to mitigate the adverse effects on small retailers and traders involved in the supply chain. Direct accessibility to the market will be provided to the farmers and hence, a better remuneration. With respect to consumers, they will benefit from assured weights and cash memos, enhanced competition due to the presence of bigger retailers and better quality of produce. The government revenues are also expected to rise due to elimination of intermediaries, enhanced operational efficiency, and control on post harvest wastage, however competition in the retail market would gradually be advantageous for end customer. |
| Keywords: | FDI, retail, FDI in retail, multi-brand retail |
| JEL: | M2 O2 O24 O5 |
| Date: | 2013–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46833&r=cwa |
| By: | Jeitschko, Thomas D.; Zhang, Nanyun |
| Abstract: | The conventional wisdom is that the formation of patent pools is welfare enhancing when patents are complementary, since the pool avoids a double-marginalization problem associated with independent licensing. This conventional wisdom relies on the effects that pooling has on downstream prices. However, it does not account for the potentially significant role of the effect of pooling on downstream innovation. The focus of this paper is on downstream product development and commercialization on the basis of perfectly complementary patents. We consider development technologies that entail spillovers between rivals, and assume that final demand products are imperfect substitutes. When pool formation facilitates information sharing and either increases spillovers in development or decreases the degree of product differentiation, patent pools can adversely affect welfare by reducing the incentives towards product development and product market competition|even with perfectly complementary patents. The analysis modifies and even negates the conventional wisdom for some settings and suggests why patent pools are uncommon in science-based industries such as biotech and pharmaceuticals that are characterized by tacit knowledge and incomplete patents. -- |
| Keywords: | Patent Pools,Research and Development,Innovation,Tacit Knowledge,BioTechnology,Pharmaceutical |
| JEL: | O3 L1 L2 L4 L6 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:92&r=cwa |