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on Central and Western Asia |
| By: | Kozmenko, Serhiy; Savchenko, Taras |
| Abstract: | The paper explains the expediency of developing an explicit rule of monetary policy for the economy of Ukraine. It studies the stages of its development, proving the expediency of formation of monetary rules for money aggregates, evaluates equilibrium values of the rule’s parameters based on the use of the modified Hodrick-Prescott filter, and determines the possible parameters of the monetary rule and their estimated coefficients by developing multivariate regression models. |
| Keywords: | monetary policy rule, central bank, monetary policy, the Hodrick-Prescott filter, inflation targeting. |
| JEL: | E50 E52 E58 |
| Date: | 2013–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50793&r=cwa |
| By: | Mehmet Alper Dinçer; Neeraj Kaushal; Michael Grossman |
| Abstract: | We use the 1997 Education Law in Turkey that increased compulsory formal schooling from five to eight years to study the effect of women’s education on a range of outcomes relating to women’s fertility, their children’s health and measures of empowerment. We apply an instrumental variables methodology and find that a 10 percentage point increase in the proportion of ever married women with eight years of schooling lowered number of pregnancies per woman by 0.13 and number of children per women by 0.11. There is also some evidence of a decline in child mortality, caused by mother’s education, but effects turn statistically insignificant in our preferred models. We also find that a 10 percentage point increase in the proportion with eight years of schooling raised the proportion of women using modern family planning methods by eight to nine percent and the proportion of women with knowledge of their ovulation cycle by five to seven percent. However, we find little evidence that schooling changed women’s attitudes towards gender equality. |
| JEL: | I1 I24 I25 J12 J13 J16 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19597&r=cwa |
| By: | Phil Cooke |
| Abstract: | This paper marks a departure in seeking to develop the conceptual and practical apparatus of a regional innovation system (RIS) for science & technology-disadvantaged regions. It is empirically based and builds on insights about the limitations of STI (The Science-Technology-Innovation Approach, which is Linear, Specialist, Exclusive, Explicit/Codified, Global) and the strengths of DUI (The Doing-Using-Interacting Approach, which is Interactive, Diversified, Inclusive, Implicit, Regional/Local). DUI is highly compatible with Schumpeterian understanding that the core process of innovation is 'knowledge recombination'. From an evolutionary economic geography perspective, which is taken in the paper, this raises interesting issues for the economics of knowledge. First it underlines the need to pay serious attention to questions of the 'proximity' imperative, suggesting not that knowledge is easily appropriable for ('open') innovation but that it may be excessively difficult to identify because it lies hidden in possibly neighbouring - but different - industries and firms. Thus, second, it makes the notion of 'knowledge spillovers' problematic because the spillovers may not be forthcoming at all or may come in unrecognisable forms. Hence, third, this means that firms likely need more than usual RIS intermediation (including knowledge demonstration and transfer services) to avoid market failures of innovation. Assistance with identification of ‘modular’ policy elements is only one of the services required for DUI product, process and policy innovation. The complexity theory notion of 'transversality' has been advanced to capture the 'emergence' of novelty out of contexts of difference, unifying a solution to the three conceptual problem-issues raised in the paper. |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1321&r=cwa |
| By: | Anna Sokolova (National Research University Higher School of Economics (Russia), Laboratory for Science and Technology Studies, senior research fellow) |
| Abstract: | As the impact of strategic decision-making at the corporate, sectoral and national levels increases, there are growing demands for high quality and solid Foresight outputs. In this regard, a timely detection and elimination of problems in Foresight projects is of great importance. A thorough evaluation of criteria and methods used in Foresight analysis would permit the improved effectiveness of Foresight activities. The results could be set against the aims to decide on the feasibility of projects and identify ways to improve them. Despite great interest in Foresight evaluation demonstrated by stakeholders at various levels, the general principles for conducting it have not yet been formulated, which hinders its development and the diffusion of successful expertise. The purpose of this paper is to develop an integrated approach for the evaluation of Foresight projects, including their classification, basic criteria to evaluate project realisation, results and impact and a SWOT analysis. The proposed methodology was tested on Russian National Foresight 2030 and the results are described and analysed. Further ways of developing this approach are suggested |
| Keywords: | foresight, evaluation, Russia |
| JEL: | O22 O32 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:20sti2013&r=cwa |
| By: | Rawley Z Heimer |
| Abstract: | This research is the first to provide empirical evidence that social interaction is more prevalent amongst active rather than passive investors. While previous empirical work, spearheaded by Hong, Kubik, and Stein (2004), shows that proxies for sociability are related to participation in asset markets, the literature is unable to distinguish between the types of participants because of data limitations. I address this shortcoming by using data from the Consumer Expenditure Quarterly Interview Survey on individual holdings, and buying and selling of financial assets as well as expenditure variables which imply variation in the level of social activity. My findings support a new explanation> for the active investing puzzle in which informal communication tends to promote active rather than passive strategies (Han and Hirshleifer 2012). |
| Keywords: | Investments ; Finance |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedcwp:1314&r=cwa |
| By: | Andrey Zakharov (National Research University Higher School of Economics. International Laboratory for Educational Policy Research. Deputy Head.); Martin Carnoy (Stanford University. Vida Jacks Professor of Education.); Prashant Loyalka (Stanford University. Freeman Spogli Institute for International Studies. Center Research Fellow.) |
| Abstract: | This study examines the relationship between teaching practices aimed at raising student performance on a high stakes college entrance examination—the Russian Unified State Exam (USE) — and student performance on that test. The study uses data from a school/classroom survey of almost 3,000 students conducted in 2010 in three Russian regions. The analysis employs a student fixed effects method that estimates the impact of teaching practices used by students’ mathematics and Russian language teachers on students’ exam results. To test for possible heterogeneous effects of practices in different academic tracks, the study estimates the practices’ effect on USE scores for students in advanced and basic level tracks. The study finds that the only strategy with positive effects on test outcomes is greater amounts of subject-specific homework geared to different types of test items, and that the most effective type of homework differs across tracks |
| Keywords: | teaching practices, curriculum, student achievement, selection bias, student fixed effect, high-stakes examinations |
| JEL: | I21 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:13edu2013&r=cwa |
| By: | Valentina Poliakova (Research Fellow, Institute of Statistical Studies and Economics of Knowledge, National Research University – Higher School of Economics) |
| Abstract: | Throughout history the development of medical institution was followed by the extension of medical expertise boundaries. Progress in new medical biotechnologies and the manipulation of human biological material, in particular, raise the conceptual question of how to define the boundaries between human beings and biological material. This paper focuses on the analysis of attitudes towards research on the human body, in scientific, political and cultural discourse. In public discussions about stem cell technology we found that the extension of medical expertise boundaries caused an intervention of ethical expertise in the fields of science and medicine. Nevertheless, the cultural conflict does not become an obstacle to the recognition of stem cell research and its legitimation in the collective consciousness. |
| Keywords: | stem cells, bioethics, public opinion, bans on scientific research, discourse. |
| JEL: | I10 I11 I18 O33 O38 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:21sti2013&r=cwa |
| By: | Shawn ARITA; TANAKA Kiyoyasu |
| Abstract: | The proliferation of regional economic integration makes an economic assessment of regional investment liberalization ever more important for policy. This paper conducts a counterfactual policy experiment to simulate the response of heterogeneous multinational firms to a regional decline in investment costs. We find that regional integration yields a welfare gain for integrating economies through the entry of new multinational firms and expansion of offshore production by incumbent multinationals. While the effects of regional integration differ significantly by individual firms, the most productive firms benefit from a variety of regional integrations through intensive-margin growth. Additionally, regional integration could significantly discourage the foreign direct investment (FDI) activity of parent firms headquartered in a country that is not participating in regional integration. |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:13088&r=cwa |
| By: | Alain Cohn; Michel André Maréchal; Thomas Noll |
| Abstract: | We conducted an experiment with 182 inmates from a maximum-security prison to analyze the impact of criminal identity on dishonest behavior. We randomly primed half of the prisoners to increase the mental saliency of their criminal identity, while treating the others as the control group. The results demonstrate that prisoners become more dishonest when we render their criminal identity more salient in their minds. An additional placebo experiment with regular citizens shows that the effect is specific to individuals with a criminal identity. Moreover, our experimental measure of dishonesty correlates with inmates’ offenses against in-prison regulation. Altogether, these findings suggest that criminal identity plays a crucial role in rule violating behavior. |
| Keywords: | Dishonesty, identity, crime, prison, experiment |
| JEL: | K00 C93 K14 K42 Z10 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:zur:econwp:132&r=cwa |
| By: | Arjaliès , Diane-Laure; Goubet , Cécile; Ponssard , Jean Pierre |
| Abstract: | The ability of firms to transform an environmental constraint into a strategic opportunity has been a controversial issue in the literature. Based on a comparative study of CO2 strategies in the cement and chemical industries, the article shows that the capacity of firms to be proactive regarding sustainable development is largely constrained by the characteristics of the sector in terms of dependence on natural resources, flexibility in the composition of activities portfolio and structure of the downstream sector. |
| Keywords: | Innovation; Sustainable Development; Corporate Strategy |
| JEL: | M14 M21 Q25 |
| Date: | 2013–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:0994&r=cwa |
| By: | Nikolay Nenovsky; Dominique Torre |
| Abstract: | Mihail Manoilescu was one of the main intellectual personalities of the interwar period in Romania. He was known as a politician and a central banker, but also as an economist. From the very beginning of his theoretical and practical career, or at least from the late 1920s till the end of his life, Manoilescu’s ideas and theories were marked by a clear continuity and consistency based on the theory of protectionism. His defence of protectionism is generally presented as clumsy and founded on incorrect method. This paper contributes to a testament of Manoilescu’s conclusions, the validity of which we test in two different paradigms. Section 2 presents the theory of protectionism formulated by the author. Section 3 tries to interpret Manoilescu’s views in modern terms. It presents arguments assimilating his analysis to some post-Marxist presentations of the after-war period. It also develops a Ricardian model proving that Manoilescu’s intuitions can be verified in a Ricardian context. The last section concludes. |
| Keywords: | Mihail Manoilescu, theory of protectionism, gains from trade |
| JEL: | B22 B26 E42 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:icr:wpicer:09-2013&r=cwa |
| By: | Mrs Caroline Morrison; Ms Emer Gallagher; Professor Elaine Ramsey; Mr Derek Bond |
| Abstract: | Objectives Whilst much has been written about the role of the 'bottom up' approach to renewable energy, there is still no clear insight into why only some schemes work. The objective of this paper is to illustrate how adopting a social constructivist approach gives more insight into the factors that lead to successful small scale renewable energy adoption. In particular, social enterprises are playing an increasing role in delivering the objectives of Europe 2020 (sustainability and self-sufficiency). This paper discusses these current trends with regards to community renewable energy projects. Prior Work There is a considerable body of literature on community renewable energy projects (Fudge et al., 2011; Walker et al., 2010, 2006; Warren and McFadyen, 2010). At a practical level, the importance of adopting the correct organisational structures has been highlighted (Gubbins, 2010; DETI, 2011). However, in the literature there has been little discussion of this issue. This could be because most of the academic literature is framed within the technological determinist paradigm and has its origins in subjects other than business. Approach The paper presents and discusses the findings of a large number of case studies that explore these issues, undertaken as part of the European Regional Development Fund's transnational Northern Periphery Programme's projects in renewable energy. Results and Implications The case studies identified that the main barriers were socio-economic rather than technical. The main finding is that nearly all successful community renewable energy initiatives had formed themselves into social enterprises. This was because they were better placed to address the key barriers identified. Uncovering this finding was possible through the adoption of a social constructivist approach which allowed the socio-economic issues to be carefully considered. The implication is that further work needs to be undertaken by adopting this paradigm. Value The main value of this paper is that it illustrates how adopting a social constructivist paradigm and using management theory helps to explain the complex issues surrounding the 'bottom up' approach to sustainability and self-sufficiency. In particular, the approach provides an ideal way of studying the functioning of social enterprises. |
| Keywords: | social enterprise, renewable energy, innovation, social constructivism |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:fsr:wpaper:2&r=cwa |
| By: | Astebro , Thomas B. |
| Abstract: | Recent evidence on relative earnings from entrepreneurship versus wage work shows that after controlling for observable differences, entrepreneurs in most developed countries on average apparently earn less than employees. Does this mean that the choice of entrepreneurship should be encouraged or discouraged? The answer depends in part on whether one believes that entrepreneurs report their income truthfully or not. Adjusting for what is considered underreporting by entrepreneurs using observed differences in expenditures lifts entrepreneurial mean earnings by between 10 percent and 40 percent, reversing the above mentioned negative difference into a positive difference. If this adjustment result continues to hold in further analysis, there is no a priori reason to increase the support of entrepreneurs in developed countries, and one should discuss decreasing it. |
| Keywords: | Entrepreneurship; returns; income underreporting; public policy |
| JEL: | J23 M13 |
| Date: | 2013–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:0977&r=cwa |
| By: | dogru, bulent |
| Abstract: | In this study, relationship between inflation and inflation uncertainty is analyzed using Granger causality tests with annual inflation series covering the time period 1923 to 2012 for Turkish Economy. Inflation uncertainty is measured by Exponential Generalized Autoregressive Conditional Heteroskedastic model. Econometric findings suggest that although in long run the Friedman's hypothesis that high inflation increases inflation uncertainty is strongly supported, in short run the Holland hypothesis proposing that the increase in the inflation uncertainty decreases inflation is also supported for Turkish Economy. We also make analysis for subsample periods selected due to the major policy changes in Turkish economic history. The causality between inflation and inflation uncertainty in these subsample periods is mixed and depends on time period analyzed. |
| Keywords: | Inflation Uncertainty, Conditional Variance, Granger Causality, Exponential Generalized Autoregressive Conditional Heteroskedastic Model |
| JEL: | C32 E31 |
| Date: | 2013–06–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:51232&r=cwa |
| By: | Juri Plusnin (National Research University Higher School of Economics. Faculty of Public Administration. Professor); Jaroslav Slobodskoy-Plusnin (Russian Academy of Sciences. Institute of Higher Nervous Activity and Neurophysiology. Researcher;) |
| Abstract: | The article summarizes the data from a few tens of interviews with entrepreneurs – representatives of a small business. The purpose of the interview was to discover expectations and suggestions from entrepreneurs to the local and state government. Interview data reveal the profound contradictions between the business and the authorities. These contradictions are based not only on results of the local administration’s actions, but also on the specific current status of local (self-)government that makes it impossible to effectively interact with the business. On the other hand, the development of local businesses has led to a peculiar configuration of the business community, also making it difficult to communicate with the authorities. As a result is trying to get protection from the local government that leads to inadmissible merging of business and government and monopolizing of business in almost every district. Direct consequences of such a merging are government inefficiency, lack of incentives for business development, and stagnation. Some “evolutionary stable strategy” has been developed, that does not allow winning any of the actors yet saving them from loses in competition with the outside players. Understanding of the inefficiency and dead-end of such an interaction by some entrepreneurs forces them to raise claims to local authority. Interviews analyses resulted in the list of complaints and suggestions on how to optimize an interaction between the local business and local authorities |
| Keywords: | municipal government, local self-government, small business, business-government interactions, partnership between municipality and business. |
| JEL: | H73 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:04/pa/2013&r=cwa |
| By: | Horn, Henrik (Research Institute of Industrial Economics (IFN)) |
| Abstract: | Almost all WTO dispute panels exceed their statutory time limits. This is often seen to indicate a more general problem for panels to manage their tasks. The time required varies considerably across panels however, suggesting that they do not face the same problems. To shed light on these differences, this paper examines the relationship between the time panels require and features of their tasks. It finds that variables intended to capture quantitative aspects of panel workloads, as well as some complexity aspects, are positively related to the time required. But two factors that should simplify panels’ tasks – a large case law, and panelists’ experience from serving on earlier panels – do not seem to matter. The results are sensitive to the inclusion of certain disputes however, raising the question of whether these should be viewed as outliers. |
| Keywords: | WTO panels; WTO dispute settlement |
| JEL: | F13 K33 |
| Date: | 2013–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:0979&r=cwa |
| By: | Andrey Ampilogov (Research assistant, Center for Institutional Studies at the National Research University Higher School of Economics, Moscow, Russia.); Ilya Prakhov (Research fellow, Center for Institutional Studies at the National Research University Higher School of Economics, Moscow, Russia.); Maria Yudkevich (Director, Center for Institutional Studies at the National Research University Higher School of Economics, Moscow, Russia.) |
| Abstract: | The introduction of the Unified State Exam (USE) has simplified the process of university entry by decreasing transaction costs associated with the application process. The new system allows applicants to apply to several higher education institutions at the same time. However, many students do not take advantage of this opportunity and apply only to a single university. In this study we analyze the factors that influence application strategies, whether to apply to only one institution or to apply to several. We argue that higher USE scores predict a higher probability of multiple applications. Additionally, graduating from a high school that offers advanced training in a particular discipline positively influences this probability. The variables of family income and social capital, a parent’s level of education, and their age, as well as attending additional programs of pre-entry training are statistically insignificant. |
| Keywords: | higher education; university admission, application strategy |
| JEL: | I21 I24 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:12edu2013&r=cwa |
| By: | Chowdhury, Tasnim; Datta, Rajib; Mohajan, Haradhan |
| Abstract: | Green finance is part of a broader occurrence; from the incorporation of various non-financial or ethical concerns onto the financial universe. Generally green finance is considered as the financial support for green growth which reduces greenhouse gas emissions and air pollutant emissions significantly. Green finance in agriculture, green buildings and other green projects should increase for the economic development of the country. In this paper an attempt has been made to describe green financing in a boarder sense. |
| Keywords: | Environment, Green building, Green finance, Green projects, Renewable energy. |
| JEL: | G17 |
| Date: | 2013–03–16 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:51169&r=cwa |
| By: | Wennberg, Karl (The Ratio Institute & Stockholm School of Economics); Pathak, Saurav (Michigan Tech University); Autio, Erkko (Imperial College London Business School) |
| Abstract: | We use data from the Global Entrepreneurship Monitor (GEM) and the Global Leadership and Organizational Behavior Effectiveness study (GLOBE) for 42 countries to investigate how the effects of individual’s self-efficacy and fear of failure on entrepreneurial entry are contingent on national cultural practices. Using multi-level methodology, we observe that the positive effect of self-efficacy on entry is moderated by the cultural practices of institutional collectivism and performance orientation. Conversely, the negative effect of fear of failure on entry is moderated by the cultural practices of institutional collectivism and uncertainty avoidance. We discuss the implications for theory and methodological development in culture and entrepreneurship. |
| Keywords: | Culture; Entrepreneurship; Institutions; Multi-level |
| JEL: | D24 L25 L26 |
| Date: | 2013–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0223&r=cwa |