|
on Central and Western Asia |
| By: | Oriana Bandiera; Andrea Prat; Raffaella Sadun |
| Abstract: | CEOs affect the performance of the firms they manage, and family CEOs seem to weaken it. Yet little is known about what top executives actually do, and whether it differs by firm ownership. We study CEOs in the Indian manufacturing sector, where family ownership is widespread and the productivity dispersion across firms is substantial. Time use analysis of 356 CEOs of listed firms yields three sets of findings. First, there is substantial variation in the number of hours CEOs devote to work activities, and longer working hours are associated with higher firm productivity, growth, profitability and CEO pay. Second, family CEOs record 8% fewer working hours relative to professional CEOs. The difference in hours worked is more pronounced in low-competition environments and does not seem to be explained by measurement error. Third, difference in differences estimates with respect to the cost of effort, due to weather shocks and popular sport events, reveal that the observed difference between family and professional CEOs is consistent with heterogeneous preferences for work versus leisure. Evidence from six other countries reveals similar findings in economies at different stages of development. |
| Keywords: | CEO, Time, Family firms, Competition, Productivity |
| JEL: | M12 L2 D24 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1250&r=cwa |
| By: | Suleymanov, Elchin; Hasanov, Fakhri; Nuri Aras, Osman |
| Abstract: | The Republic of Azerbaijan is one of the oil and gas rich countires of the former Soviet Union. After the second stage of the Shah Deniz gas field, natural gas exltation and exportation became one of the key issues in Azerbaijan’s oil and gas stategy. Diversification of the oil and gas transportation is key issue for Azerbaijan’s energy security policy. In this regard, TANAP is one of the important project after Baku-Tbilisi-Ceyhan oil pipeline. TANAP is proposed natural gas pipeline for transporting Azerbaijani natural gas through Turkey to Europe in two directions. The project is firstly announced on 17 November 2011 at the Third Black Sea Energy and Economic Forum in Istanbul and singed on 26 June 2012.By starting 2014 and finishing 2018, TANAP will cost billion USD and will be the capacity of 23 billion cubic metres by 2023 and 31 billion cubic metres by 2026. |
| Keywords: | TANAP,Energy,Oil,Natural gas,Pipeline |
| JEL: | F1 F13 F5 F53 Q40 Q43 Q47 |
| Date: | 2013–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:52187&r=cwa |
| By: | Anastasiya Luzgina (Belarusian Economic Research and Outreach Center (BEROC)) |
| Abstract: | The paper presents a model of foreign exchange integration in the post-Soviet countries. The author considers the possibility of introducing a supranational unit of account in the most economically integrated countries in the medium term, namely Belarus, Kazakhstan and Russia. |
| Keywords: | Belarus, CIS, currency integration, unit of account |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:bel:ppaper:18&r=cwa |
| By: | Hyytiainen, Kari; Ahlvik, Lassi; Ahtiainen, Heini; Artell, Janne; Dahlbo, Kim; Huhtala, Anni |
| Abstract: | This paper develops and applies a spatially explicit bioeconomic model to study trans-boundary nutrient pollution of the Baltic Sea. We combine catchment, marine and economic models covering the entire Baltic Sea region to weigh the costs of nutrient abatement and the benefits of improved water quality and solve for the socially optimal level of water protection. The overall benefits of the Baltic Sea Action Plan, the present convention on nutrient abatement, clearly outweigh the costs. Nevertheless, the total cost could be almost halved if the mix of measures and the regional targets were planned in a spatially cost-effective manner and if the consequent reductions of nitrogen and phosphorus, the two nutrients causing eutrophication, were better balanced. Policy optimizations, however, suggest that the socially optimal level of nutrient abatement is somewhat lower than the more ambitious level envisaged by the convention. The welfare gains from cost sharing that makes the socially optimal level of nutrient abatement worthwhile for all littoral countries would be 100 million euros annually. |
| Keywords: | cost-effectiveness, environmental valuation, eutrophication, integrated assessment modelling, nitrogen, optimization, phosphorus, Environmental Economics and Policy, |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:ags:mttfdp:160728&r=cwa |
| By: | Milanović, Milan R.; Stevanović, Simo; Radojević, Vuk |
| Abstract: | Because of big internal differences in the production-resource structure, the former uniform Yugoslav market was characterized by intensive inter-republic trade. Given the controlled prices of agrarian products, their internal trade was frequently referred to as an example of non-equivalent exchange. After the violent secession and disintegration of the common country, the agrarian trade balances of the former republics and their positions in foreign trade essentially began to change. The relative changes of the agrarian-export positions of the republics/states are gained an insight into in the context of the market structure and the agrarian potentials of the former shared environment and the current new one. At the same time, we are comparatively analyzing the market structure and relations within the three status/systemically completely different conditions of these countries for the duration of an almost two-and-ahalf- decade-long period (from 1988 to 2010), namely: (1) the pre-transition position on the uniform market; (2) the transition period after the disintegration of the common state, and (3) the post-transition period of independence. The sectoral significance of the agrarian market is assessed via an analysis of the share of agrarian trade turnover in total foreign-trade turnover, as well as the movement of the net balance of agrarian trade, while positional changes in the spatial structure of the total and agrarian export and import are being gained an insight into via the relative share of some countries in the total trade turnover of the ex-YU market countries. Utilizing specific analytical methods, such a way to analyze the transition dynamic and structural changes of the agro-food sector in foreign trade offers a possibility of the identifying and objectivizing of the comparative advantage and export potentials of the agrarian foreign trade of these countries. The remarks and assessments derived on that basis are indicative of the consequences of the disintegration of the former uniform Yugoslav agrarian market. |
| Keywords: | Ex-Yu countries’ market, agrarian export, agrarian import, foreign-trade balance, sectoral and spatial structure, Agribusiness, Agricultural and Food Policy, International Relations/Trade, |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa135:160389&r=cwa |
| By: | Diego Chavarro (SPRU, University of Sussex, UK); Puay Tang (SPRU, University of Sussex, UK); Ismael Rafols (SPRU, University of Sussex, UK) |
| Keywords: | Interdisciplinary research, S&T capabilities, local knowledge, research assesment, excellence, socio-economic impact |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2013-14&r=cwa |
| By: | Yogi Vidyattama (NATSEM, University of Canberra); Robert Tanton (NATSEM, University of Canberra); Nicholas Biddle (CAEPR, Australian National University (ANU)) |
| Abstract: | The lack of data on how the social condition of Indigenous people varies throughout Australia has created difficulties in allocating government and community programs across Indigenous communities. In the past, spatial microsimulation has been used to derive small area estimates to overcome such difficulties. However, for previous applications, a record unit file from a survey dataset has always been available on which to conduct the spatial microsimulation. For the case of indigenous disadvantage, this record unit file was not available due to the scarcity of the Indigenous population in Australia, and concerns from the ABS about confidentialising the file. This study offers a solution to this problem by proposing the building of a synthetic unit record file with observations that sum to the population totals from the actual survey file. A spatial microsimulation approach is then applied to this synthetic unit record file and the results are validated. |
| Keywords: | Wellbeing, synthetic data, spatial microsimulation, Indigenous people, wellbeing |
| JEL: | C15 C63 I31 J15 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:cba:wpaper:wp1124&r=cwa |
| By: | Itskovich, Alexander U. |
| Abstract: | The negotiations about the joining of Russian Federation (RF) to the World Trade Organization (WTO) were carried on in the period from 1993 till up 2012 years. The President of Russia undersigned on July 21, 2012 a Federal Law ''About the Ratification of the Protocol about the Joining of RF to the Marrakesh Agreement of the World Trade Organization Foundation of April 15, 1994''. After this ratification Russia becomes a member of the WTO and assumes corresponding obligations established by multilateral trade agreements. The Protocol becomes also a part of the legal foundations of Russian Federation. In a case when the Protocol establishes some other rules than the Russian Law are used the rules of the Protocol. One of the problems, which dragged the process of negotiations, remained, besides the other ones, obligations in the field of agriculture. In particular, in the sphere of the introduction of limitations corresponding the amount of the state supporting which one country, a member of the WTO, would be able to put at the disposal of national agroproducers. Nowadays the amount of the state supporting in regard of the agricultural sector makes up about 3.5 billions of the USD dollars annually. At the time of the joining the WTO it was determined in the amount of 9.0 billions of the USD dollars annually. In the following, in the period from 2012 till up 2017 years it would be reduced according to the corresponding schedule till 4.4 billions of the USD dollars annually. The necessity of the Russia’s joining to the WTO is explained on the ground of that fact that according to the rules and norms of the WTO are regulated more than 90 percents of the world trade with goods and services. At the same time the main form of the world economic connections as before remains the international trade which according to its dynamic and value indices leave behind the growth of the world production, the flow of capital and other kinds of international connections. According to the WTO data the amounts of the world agricultural foodstuffs export/import made up in 2000 year 558 billions of the USD dollars. The share of Russia in the export made up 1.3 percents and in the import 1.9 percents. The lack of balance in this sector of the international trade meant for Russia the loss of 3.3 billions of the USD dollars annually. The amount of import to Russian Federation increased in 2011 year compared with 2010 year by 30,0 percents and reached 323.3 billions of the USD dollars. At the same time the share of the agricultural sector in the import reached about 13.0 percents or 42.5 billions of the USD dollars. In the same period of time, according to the data of the Central Bank of Russia, the export of RF made up 521.4 billions of the USD dollars and increased by 30.2 percents, but the share of the agricultural sector only made up 2.3 percents of the total export. |
| Keywords: | World Trade Organization (WTO), ''yellow basket'', ''green basket'', conditions of ''WTO-plus'' regime, Agribusiness, International Relations/Trade, |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa135:160385&r=cwa |
| By: | Zekić, Stanislav; Gajić, Milivoj; Matkovski, Bojan |
| Abstract: | Agriculture is a relatively important economic activity in Serbia. In addition, the importance of agriculture stems from the upcoming full implementation of the Interim Trade Agreement with the EU, and the expected beginning of the negotiation process for full membership in the organization. In this context, the starting point of the analysis is the consideration of the agricultural resource potential as a prerequisite for the elaboration of its production performance. The analysis of export performances of agribusiness, together with the production performance of agriculture provides an accurate insight into the degree of competitiveness of Serbian agribusiness. The comparative approach to the problem provides the position identification of agriculture in Serbia, compared both with the region and the EU. This also considers the development perspective and determination of the role of agriculture in the integration of Serbian economy in regional and European frameworks. The empirical analysis represents the basis for the formulation of future steps in the creation of agricultural policy measures and appropriate strategies in the pre-accession negotiations with the EU. Above all, these measures should improve the competitiveness of agriculture, which, combined with the provision of food security and food safety and adequate incomes of farmers, has to be the imperative during the negotiation process with the EU in the field of agriculture. |
| Keywords: | Agriculture, Agricultural policy, Development performances, Export, Integrations., Agribusiness, Agricultural and Food Policy, International Relations/Trade, |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa135:160518&r=cwa |
| By: | Ross Levine; Yona Rubinstein |
| Abstract: | Smart teenagers who engage in illicit activities are much more likely to become entrepreneurs, according to research by Ross Levine and Yona Rubinstein. But, they note, being self-employed doesn't necessarily make someone an entrepreneur: recognising this distinction has enabled them to detect both the key characteristics of successful entrepreneurs and the true rewards to their innovations. The incorporated self-employed earn much more per hour and work many more hours than people on salaries and the unincorporated self-employed. To measure illicit activities, the study uses survey data on skipping school, using alcohol and marijuana, vandalism, shoplifting, drug dealing, robbery, assault and gambling. The point is not that these are desirable activities or that parents should help their kids get involved in them to encourage entrepreneurship: rather, they can be used to gauge someone's inclination to build and lead a successful and innovative business. |
| Keywords: | Self-employment, Occupational choice, Compensation, Firm organization, Corporate finance, Cognitive and Noncognitive traits |
| JEL: | L26 J24 J3 G32 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcnp:399&r=cwa |
| By: | Hottenrott, Hanna; Lopes-Bento, Cindy |
| Abstract: | This study shows for a large sample of R&D-active manufacturing firms over the period 2000-2009 that knowledge alliances have a positive effect on patenting in terms of both quantity and quality. However, when distinguishing between alliances that aim at joint creation of new knowledge and alliances that aim at the exchange of knowledge, results suggest that creation alliances lead to more valuable patents as they receive significantly more forward citations per patent. Knowledge exchange alliances, on the other hand, are associated with patent quantity, but not quality. -- |
| Keywords: | Knowledge Alliances,Patents,Innovation,R&D,Count Data Models |
| JEL: | O31 O32 O33 O34 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:122&r=cwa |
| By: | Anastasiya Luzgina (Belarusian Economic Research and Outreach Center (BEROC)) |
| Abstract: | The paper lists reasons for participation of the Republic of Belarus in economic integration in the territory of the Former Soviet Union. The author looks at the prospects of convergence in economic and monetary spheres of the CIS member states. |
| Keywords: | Belarus, CIS, economic integration, convergence analysis, monetary integration |
| Date: | 2013–07 |
| URL: | http://d.repec.org/n?u=RePEc:bel:ppaper:15&r=cwa |
| By: | Suleymanov, Elchin; Zeynalov, Ayaz; Mammadov, Rufat |
| Abstract: | In this article, the export multiplicity of Azerbaijan Republic has been analyzed during 1995-2009. Firstly, the relationship between GDP on CPI has been estimated and it found as a positive and meaningful. Secondly, the effect of GDP on Net export has been estimated, where these two findings allow us to estimate the export multiplicity of Azerbaijan Republic. The export multiplicity of Azerbaijan Republic found as a 0.9, where it emphasize that effect of GDP on net export is meaningful and strong with including the effect of real effective exchange rate on net export. |
| Keywords: | export multiplicity, net export, consumer price, and real effective exchange rate |
| JEL: | F12 F16 F18 F21 F41 F43 |
| Date: | 2013–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:52306&r=cwa |
| By: | Maryia Akulava (Belarusian Economic Research and Outreach Center (BEROC)); Gleb Shymanovich (IPM Research Center); Robert Kirchner (German Economic Team Belarus (GET Belarus)) |
| Abstract: | The labour market plays an important role in the Belarusian economy. It is characterized by state dominance, as the private sector is relatively small, and overregulation. The policy of sustaining low wage disparities and excessive employment allows the authorities to eliminate inequality and curtail poverty, thus includes important functions of social policy. However, the economic costs of this policy are quite high, and are present in form of an inefficient allocation of the labour force due to its low mobility and weak motivation. Against this background, a number of challenges have arisen, which make a policy reaction necessary. First, Belarus’an labour market is experiencing a shortage of labour supply due to long-term negative demographic factors. Second, this problem is aggravated by labour migration, which seems to have picked up recently, even though exact numbers are difficult to obtain. Up to now response to these challenges has been limited to hikes in salaries and incomes, coupled with certain administrative measures to restrict cross-border mobility for certain industries. However, the key issue is to ensure productivity gains, which form the basis for subsequent wage increases. For this to happen, a wide-ranging liberalization of the labour market is a key condition. This implies also a de-coupling of social policy issues from labour market policies to a certain degree. Increasing the mobility of the labour force (relocation) across sectors will certainly have a positive impact in this respect, as a lot of potential is still underutilized. |
| Keywords: | Migration, Belarus |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:bel:ppaper:17&r=cwa |