nep-inv New Economics Papers
on Investment
Issue of 2023‒07‒31
twenty-two papers chosen by
Daniela Cialfi
Università degli Studi di Teramo

  1. Hydrogen Policies in Major Countries: Comparative Analysis with Implications for Korean Policy By Huh, Sun Kyung
  2. Material Efficiency for the Circular Economy By Lee, Sangwon
  3. Korean Economic and Industrial Outlook for the Second Half of 2023 By Lee, Sora
  4. Next Generation Africa: Opportunities and Challenges of a New Instrument Reallocating European SDRs to the African Continent By Gabriele Casano
  5. Industrial Workforce Policy for an Economy in Transition By Kim, Young Min
  6. Investigating the Impact of Agricultural Subsidy on Chemical Fertilizer Use in China By Fan, Pengfei; Mishra, Ashok K.; Feng, Shuyi; Su, Min
  7. Trade Integration, Industry Reallocation, and Welfare in Colombia By George A. Alessandria; Oscar I. Avila-Montealegre
  8. The death and life of great British cities By Stephan Heblich; David Krisztián Nagy; Alex Trew; Yanos Zylberberg
  9. Evaluación de operaciones y resultados del Programa Clúster Más Pro By Rafael Puyana; Daniel Payares; Natalia Contreras
  10. Carbon Capture and Storage: Publics in five countries around the North Sea prefer to do it on their own territory By Merk, Christine; Andersen, Gisle; Nordø, Åsta Dyrnes; Helfrich, Torben
  11. Meritocracy as a WEIRD Phenomenon: Fairness Reasoning and Redistributive Preferences across the World By Yuchen Huang; Zhexun Mo
  12. The simple answer to the Social Discount Rate question By Szekeres, Szabolcs
  13. The asymmetric effects of twenty years of tariff reforms on Egyptian workers By Roberta De Santis; Lorenzo Di Biagio; Piero Esposito
  14. Abdominal Elephantiasis: An Obstructive Disease Due to Extreme Obesity By Mohajan, Devajit; Mohajan, Haradhan
  15. Изследване на същността на счетоводните дейности в контекста на защитата на лични данни By Georgieva, Daniela; Mitkova, Milena
  16. Étude de l'émergence d'un projet d'ESS : être ou ne pas être une recherche-action, là est la question ? By Guillaume Denos; Pauline Olivier-Morinière
  17. Standing on the shoulders of giants or science? Lessons from ordoliberalism By Feld, Lars P.; Köhler, Ekkehard A.
  18. Audit Committee, Accounting Conservatism, Leverage, Earnings Growth, dan Earnings Quality By Halim, Kusuma Indawati
  19. Research needs for a food system transition. By McDermid, Sonali Shukla; Hayek, Matthew; Jamieson, Dale W; Hale, Galina; Kanter, David
  20. Pricing Neighborhoods By Sadegh Eshaghnia; James J. Heckman; Goya Razavi
  21. Social Protection in a World of Crisis : Learning from the Response to the COVID-19 Pandemicin Eastern Europe and the South Caucasus By World Bank; Coll-Black, Sarah; Von Lenthe, Cornelius Claus; Koettl-Brodmann, Stefanie
  22. Mapping institutional arrangements for infrastructure governance in OECD countries By Ana Maria Ruiz Rivadeneira; Patrick Mcmaster

  1. By: Huh, Sun Kyung (Korea Institute for Industrial Economics and Trade)
    Abstract: This study analyzes hydrogen policies in key countries and uses the implications carried by the analysis to formulate a strategic framework for the development of the domestic Korean hydrogen industry. A comprehensive national hydrogen strategy is crucial if Korea is to achieve a swift and effective transition to a hydrogen-based economy. The prevailing concerns surrounding climate change and environmental issues have prompted a significant shift in the global energy landscape. Consequently, numerous countries have embraced policies aimed at augmenting the proportion of renewable energy sources in order to mitigate greenhouse gas emissions. This pursuit of an energy transition and efforts toward carbon neutrality have emerged as central tenets of national energy and environmental agendas across the globe. Korea too is a part of this international movement toward cleaner energy and carbon neutrality, exemplified by the Korean government’s promulgation of the Energy Transition Roadmap in 2018. Hydrogen energy addresses a major shortcoming of many renewables: their intermittent nature. They hydrogen sector also contributes to the decarbonization of industries and transportation, and can stimulate economic growth as a burgeoning green sector. Recognizing the pivotal role that the hydrogen industry will play in facilitating the transition toward carbon neutrality, this study ascertains the distinctive features of domestic and international hydrogen industry policies, and proposes a suite of domestic policy strategies based on these findings specifically tailored to the Korean context.
    Keywords: hydrogen; hydrogen energy; hydrogen industry; alternative energy; renewable energy; greenhouse gas mitigation; climate change; carbon reduction; emissions reduction; clean energy; green energy; decarbonization; green industry; carbon neutrality; net-zero; Korea
    JEL: Q40 Q42 Q43 Q48 Q50 Q53 Q54 Q55 Q56 Q58
    Date: 2023–06–30
  2. By: Lee, Sangwon (Korea Institute for Industrial Economics and Trade)
    Abstract: Consumers and businesses on the demand side worldwide are beginning to look more favorably on tighter carbon regulations, leading players on the supply side to voluntarily launch carbon reduction initiatives. The industrial sector is also under increasing public pressure to minimize energy consumption and cut carbon emissions. Trends in this space include eco-friendly design, enhanced durability and longer usable life, remanufacturing, and recycling. Previous studies such as IPCC (2022) and Allwood et al. (2011) have stressed the importance of material efficiency in reducing carbon emissions in the industrial sector. These studies see material efficiency as a typical demand-side reduction effort. Identifying effective and diverse demand-side mitigation strategies is crucial to overcome the limitations of traditional supply-side industrial carbon reduction strategies. To date, carbon reduction activities in the industrial sector have primarily focused on supplier- or producer-funded energy transition policies, such as substituting fossil-based energy with alternative fuels and expanding renewable energy. In the context of government policies that prioritize supply, such as clean electricity and hydrogen policies, this paper reviews the contemporary discourse on material demand management, recycling, and reuse.
    Keywords: materials; material efficiency; carbon mitigation; emissions reduction; climate change; environmental policy; environmental regulation; carbon regulation; waste reduction; resource circularity; consumption reduction; sustainability; sustainable growth; sustainable development; Korea
    JEL: F18 F64 Q50 Q53 Q54 Q55 Q56 Q58
    Date: 2023–06–30
  3. By: Lee, Sora (Korea Institute for Industrial Economics and Trade)
    Abstract: The Korea Institute for Industrial Economics and Trade publishes major projections for Korean economic performance in Industrial Economic Review. For more detailed data, visit us at In the first half (H1) of 2023, the domestic real economy in Korea demonstrated a solid growth trajectory, despite global uncertainties and sluggish export performance since the end of 2022. But various factors are set to hamstring the growth of the global economy this year, including the Ukraine conflict, problems in the finance sector, and slack domestic demand triggered by interest rate hikes. International oil prices are projected to remain lower in H2 compared to H1, with demand growth stifled and oil output steady. Furthermore, the USD/KRW exchange rate in H2 should remain lower than the highs set in the first half of the year. The US Federal Reserve (Fed) decision to keep interest rates unchanged and the alleviation of financial market risks have contributed to the weakening of the dollar. Looking ahead to H2 2023, the domestic economy is expected to face challenges stemming from a global economic slowdown and a sustained decline in trade volume. These factors may hinder export growth. In addition, a contraction in domestic demand resulting from the impact of interest rate hikes is likely to cap economic growth at a modest rate of around 1.4 percent. In H2 2023, exports of Korea’s 13 flagship industries are expected to decline by 4.3 percent year over year (YoY), reflecting an accelerated decline from last year, when exports fell 3.2 percent. This decline can be attributed to weak demand from key export partners suffering from continued economic hardship. And while the shipbuilding, ICT devices, and rechargeable batteries sectors are showing some resilience, domestic demand in the other flagship sectors is projected to experience slower growth or decline. Production in every major industry save only for the shipbuilding, steel, and rechargeable batteries sectors is expected to either stagnate or decline. This owes to sluggish domestic and export demand, excess inventory, and the continued relocation of production facilities to locations overseas. Imports are also set to fall in Korea’s 13 flagship industries for H2 2023, by 4.9 percent, due to by falling prices and a slowdown in domestic economic activity.
    Keywords: economic projection; economic outlook; 2023 economic outlook; 2023 macroeconomic outlook; industrial production; production estimates; production outlook; export projection; export outlook; export growth; export performance; Korea
    JEL: E00 E01 E66 F00 F01 F17 F20 F21 F31 F44 F52
    Date: 2023–07–03
  4. By: Gabriele Casano (PhD Student in ‘Security, Risk and Vulnerability’ at the University of Genoa and he is the Supervisor of the ‘Internship Research Project’ at the Einstein Center for International Studies in Turin.)
    Abstract: This paper forms part of a broader debate on alternative uses of SDRs following the recent General Allocation of August 2021. We intend to highlight the fundamental aspects that a potential reallocation of resources from European states to Africa might entail, both in terms of supporting the development of the African continent through the definition of a ‘Next Generation Africa’, and in terms of a substantial change in the paradigm of the use of SDRs, but also in terms of political and economic strategy for the EU and the AU as key regional actors in their respective continents and at the international level. The objective of the research is to highlight which actors are most relevant in defining both the mechanism for reallocating SDRs from European states to the African Continent, and in the design, management, and supervision of an ambitious development plan such as ‘Next Generation Africa’. Through this analysis, it will then be possible to define a political strategy capable of bringing this ambitious and far-sighted long-term development project, which both Europe and Africa need, into the heart of the political debate.
    Keywords: Africa, Europe, Special Drawing Rights, SDRs, Development
    JEL: E42 E44 E58 F33 F43 F50 G15
    Date: 2022–02
  5. By: Kim, Young Min (Korea Institute for Industrial Economics and Trade)
    Abstract: Effective industrial workforce policies that facilitate the supply and demand of labor are crucial, especially during times of industrial transition. We are living through three such transitions, with the ongoing green transformation, digital transformation, and rapidly changing domestic and foreign industrial policies. According to the Korean Ministry of Trade, Industry and Energy (MOTIE), the Industrial Technology Labor-Force (ITL) in five promising new industries will face a critical shortage of workers. These new growth sectors will need 140, 000 new workers by 2030. In light of the rapid growth of the global semiconductor industry, one of the country’s leading industries, the number of the workers in the sector is set to increase between 12.7 million and 17.7 million workers from 2021 to 2030, ultimately topping out at around 30.4 million workers. Demand for labor in these new industries is expected to increase faster than before due to the impact of the COVID-19 pandemic. Ensuring stability in supply and demand of high-skilled workers is vital for industrial development and industrial competitiveness. However, the labor market has become more complex in the face of digital transformation and amid emerging new industries and technology. Rapid changes in industrial structure and production processes, coupled with uncertainties in labor demand, and the faster depreciation of accumulated skills have made the return on educational investment less certain, reducing the incentive to participate in education and training programs to acquire new skills and competencies, leading to a suboptimal labor supply in new industries. These challenges in the supply and demand for workers can result in labor input inefficiencies, creating a vicious cycle of languid industrial development followed by weakened industrial competitiveness and lower labor demand. Therefore, effective industrial labor policies are critical to ensure continued industrial development and competitiveness during periods of industrial transition. This paper analyzes the supply and demand for ITL and industrial labor policies in Korea. It also describes the implications the findings carry for industrial workforce policy during periods of industrial transition.
    Keywords: labor; labor economics; labor policy; labor demand; labor supply; industrial-technological labor; ITL; industrial labor; industrial workforce; industrial workforce policy; industrial labor policy; labor market policy; labor market dynamics; Korea
    JEL: J00 J01 J08 J10 J21 J24 J38 J44
    Date: 2023–06–30
  6. By: Fan, Pengfei; Mishra, Ashok K.; Feng, Shuyi; Su, Min
    Abstract: Understanding the overuse of chemical fertilizer is critical for global food security and environmental protection. We use a nationally representative rural household survey from China, the difference-in-difference, three-step approach, and Seemingly Unrelated Regression methods to assess the impacts of China’s new agricultural subsidy on chemical fertilizer use, heterogeneity effect, and mechanism. The results show that, first, the new agriculture subsidy reduces the use of chemical fertilizer by about 7.2 percent. A series of robustness tests confirms the finding. Second, the heterogeneity analysis shows that the subsidy’s negative impact on fertilizer use is substantially greater among younger farmers than among older farmers. The negative effect also is significantly more in the main grain-producing areas than in non-grain-producing areas of China. Third, the mediating effect analysis shows that farmland scale mediates 8.3 percent of fertilizer use, and adoption of agricultural machinery mediates 48.6 percent of fertilizer use. Thus, China’s new agricultural subsidy reduces fertilizer use by helping farmers expand their farmland scale and adopt farm machinery. Our findings underscore the positive role that reforming the agrarian subsidy policy plays in sustainable development.
    Keywords: Agricultural and Food Policy, Crop Production/Industries, Farm Management
    Date: 2023–07
  7. By: George A. Alessandria; Oscar I. Avila-Montealegre
    Abstract: We study empirically and theoretically the dynamic effects of the unilateral reduction in import tariffs undertaken by Colombia from 1989-1993, with a particular emphasis on the transition and including any anticipation effects. We develop an asymmetric two-country, multi-sector heterogeneous firm model with a dynamic exporting decision, input-output linkages, capital accumulation, and trade in financial assets. The model is calibrated to match Colombian exporter dynamics, sectoral trade openness, tariffs, imbalances, and input-output linkages in the late 1980s. We introduce an anticipated phased out reform into the model and relate the predicted path of sectoral and aggregate activity to the data. Our multi-sector dynamic exporting model predicts much larger gains from these reforms than models that abstract from exporter dynamics, sectoral heterogeneity, trade in financial assets, or capital accumulation. It also captures the key macroeconomic features in terms of a temporary expansion in growth featuring a large, but short-lived investment boom financed by international borrowing, more so when the reforms are expected to be short-lived.
    JEL: F15 F4
    Date: 2023–06
  8. By: Stephan Heblich; David Krisztián Nagy; Alex Trew; Yanos Zylberberg
    Abstract: This paper studies how cities' industrial structure shapes their life and death. Our analysis exploits the large heterogeneity in the early composition of English and Welsh cities. We extract built-up clusters from early historical maps, identify settlements at the onset of the nineteenth century, and isolate exogenous variation in the nature of their rise during the transformation of the economy by the end of the nineteenth century. We then estimate the causal impact of cities' population and industrial specialization on their later dynamics. We find that cities specializing in a small number of industries decline in the long run. We develop a dynamic spatial model of cities to isolate the forces which govern their life and death. Intratemporally, the model captures the role of amenities, land, local productivity and trade in explaining the distribution of economic activity across industries and cities. Intertemporally, the model can disentangle the role of aggregate industry dynamics from city-specific externalities. We find that the long-run dynamics of English and Welsh cities is explained to a large extent by such dynamic externalities a la Jacobs.
    Keywords: Specialization; cities over time; quantitative economic geography.
    JEL: F63 N93 O14 R13
    Date: 2023–07
  9. By: Rafael Puyana; Daniel Payares; Natalia Contreras
    Abstract: El presente documento es una evaluación de las operaciones y resultados del Programa Clúster Más Pro. A través de una revisión de literatura, un análisis comparativo internacional, una metodología de evaluación institucional de las operaciones y un análisis de resultados, se examina la efectividad de la política pública de promoción de los clústeres. El análisis se centra en la racionalidad y el diseno del programa, la eficacia de su implementación, la coherencia con otras políticas y su consistencia a lo largo del tiempo. Además, se evalúan los resultados del programa, incluyendo indicadores económicos, líneas de trabajo y la percepción de los empresarios participantes. Como resultado de esta evaluación, se ofrecen recomendaciones y mensajes finales para mejorar y fortalecer el Programa Clúster Más Pro****** Abstract: This document is an evaluation of the operations and results of the Cluster + Pro Program. Through a literature review, an international comparative analysis, an institutional evaluation methodology and an analysis of the results, it examines the effectiveness of this clusters public policy. The analysis focuses on the rationality and design of the program, the effectiveness of its implementation, coherence with other policies and its consistency over time. In addition, the results of the program are evaluated, including economic indicators, lines of work and the perception of participating entrepreneurs. As a result of this evaluation, recommendations and final messages are offered to improve and strengthen the Program.
    Keywords: Clúster, Iniciativas ClústerProductividad, Política PúblicaApuestas Regionales, Colombia, Cluster, Cluster Initiatives, Productivity, Public PolicyRegional Priorities, Colombia
    JEL: D78 O14 O40
    Date: 2023–05–30
  10. By: Merk, Christine; Andersen, Gisle; Nordø, Åsta Dyrnes; Helfrich, Torben
    Abstract: Carbon Capture and Storage (CCS) has been identified as an essential part of the lowest-cost path toward reaching the goals of the Paris Agreement. In Europe, an accelerated pace of CCS development indicates that a CO2 transport and storage system could be established by 2030. However, we know little about how the public views the market for transport and storage of CO2 currently under development in Europe. In early 2023, we conducted an experimental comparative survey to study public opinions on cross-border CO2 trade for storage in Denmark, Germany, the Netherlands, Norway and the UK. The share of respondents that perceive CCS as somewhat positive or very positive varies considerably between the countries; we find the highest share in Denmark (69%), followed by the UK (68%), Norway (67%), the Netherlands (57%) and the lowest share in Germany (49%). Especially concerns about environmental risks and costs lead to more negative views, while perceptions of job creation and economic opportunities lead to more positive evaluations. The experimental results show that importing CO2 for storage is among the least preferred options in all countries, while the storage of CO2 that has been captured in the own country is the most preferred option; the gap in the share of positive evaluations is substantial and amounts to up to 20 percentage points in the UK. Respondents who feel that countries are responsible for reducing national greenhouse gas emissions and storing their own captured CO2 drive the pattern of a more positive evaluation of a domestic CCS value chain and a more negative evaluation of importing CO2.
    Keywords: carbon capture and storage, public perceptions, trade
    JEL: F35 O18
    Date: 2023
  11. By: Yuchen Huang (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Zhexun Mo (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab)
    Abstract: Meritocratic redistributive preferences - where people regard it as more unfair and demand more redistribution, when the income difference is due to luck rather than effort - is often used as an implicit assumption in previous studies of redistributive preferences. We provide ample evidence from representative international survey datasets to demonstrate that meritocratic redistributive preference is a phenomenon particular to the Western, Educated, Rich, Industrialized and Democratic (WEIRD) countries, and to a narrower sense only Anglo-Saxon and Protestant European countries. We show that first of all, a robustly significant negative correlation between demand for redistribution and the perceived importance of efforts in determining income inequalities exists only in WEIRD countries. Secondly, not all sources of income inequalities out of human control are considered unfair: gender, racial and religious hierarchies are often considered fair inequalities which do not require redistribution in non-WEIRD countries, while family-wealth-based inequalities are universally denounced and should be redistributed. Finally, we also discuss the reasons on the formation of non-meritocratic preferences from two perspectives: heterogeneities in fairness views and government responsibilities across the world.
    Keywords: Meritocracy, Fairness Preferences, Income Inequality, Beliefs, Redistribution, Government Duty
    Date: 2022–06
  12. By: Szekeres, Szabolcs
    Abstract: The Social Time Preference Rate (STPR) correctly measures the rate of fall of the value of future benefits, while the Social Opportunity Cost Rate (SOCR) correctly measures the cost of capital of investment projects, but neither rate can correctly compute net present values (NPV) by itself. This paper shows that there is no choice, both must be used simultaneously, a method that is equivalent to shadow pricing capital. This reconciles the two approaches, as their joint use satisfies both of their requirements. Disagreements will remain, however, as reviewed in the paper, about the value of both rates.
    Keywords: Social discount rate; Prescriptive discounting; Descriptive discounting; Two-rate discounting; Declining discount rates; Ramsey rule.
    JEL: D61 H43
    Date: 2023–07–06
  13. By: Roberta De Santis (Italian National Statistical Institute); Lorenzo Di Biagio (Italian National Statistical Institute); Piero Esposito (Università di cassino)
    Abstract: Despite widespread recognition of the importance of the issue, economic literature to the best of our knowledge has neglected the role of the Sustainable Development Goals (SDGs) in the persistent core periphery dualism in European Monetary Union (EMU). This gap is peculiar since starting from 2015 (and even before with the Millennium goals and the OECD DAC International Development Goals) the European Union (EU) has shaped its economic policies in order to reach the 17 SDGs by 2030. In this paper we intend to fill this gap. We contribute to the empirical literature in two ways i) assessing whether the SDGs might represent themselves a new dimension of EMU core periphery dualism and ii) whether the similarity of SDGs scores for EMU country pairs have been affecting the existing dualism. The cluster analysis performed evidenced that there was a Core-Periphery pattern for SDGs scores in the period 2001-2021 for 12 EMU countries, although the distance between and within the two groups diminished overtime. Moreover, panel estimates for the period 2003-2019 evidenced that there was a relationship between SDGs scores similarity and business cycle synchronization for the selected EMU countries. According to our estimates, it seems that having a similar pattern to reach the SDGs displayed a differentiated impact on core and periphery countries. Moreover, disentangling the SDGs similarity index in its three main components (the 3Ps) evidenced heterogeneous and even opposite relationships with business cycle correlation.
    Keywords: Euro, Core-Periphery, Convergence, Sustainable development
    JEL: C5 E3 N1 F4 Q01
    Date: 2023
  14. By: Mohajan, Devajit; Mohajan, Haradhan
    Abstract: This study deals with abdominal elephantiasis disease due to extensive lymph node destruction by erysipelas. The disease is rare, and only seen in developed countries among unfortunate morbid obese (e.g., BMI is in the range 60 to 80 or above) individuals. Abdominal elephantiasis is viewed as by chronic inflammation and obstruction of the lymphatic channels, and by hypertrophy of the skin and subcutaneous tissues. This mini review tries to make conscious about the negative effects of extreme obesity.
    Keywords: Abdominal elephantiasis, lymphedema, lymph fluid
    JEL: A14 I1 I12 I15 I3 I31 P2
    Date: 2023–05–03
  15. By: Georgieva, Daniela; Mitkova, Milena
    Abstract: Because of technological progress new challenges to the protection of personal data and the privacy of the individual have occurred. They are mostly related to risks of possible harm to individuals such as financial abuse, fraud, problems in exercising rights, and others. The specificity of the accounting activity requires accounting companies to handle a large set of personal data, the protection of which is among the national and European priorities. However, the purely formal fulfilment of the obligation to protect personal data can lead to some unethical actions by those companies. A clear definition of the types of data that groups of persons collect can have a proactive effect on the prevention of incorrect collection and analysis of personal information. The purpose of the paper is to outline the main activities and relationships that accounting companies have with internal (staff) and external (customers) persons to collect, analyze, and store personal data. The research methods used are the logical, deductive, and comparative methods, as well as the methods of analysis and synthesis.
    Keywords: лични данни, счетоводители, счетоводна дейност, защита
    JEL: K0 K00 M4 M41 M48
    Date: 2022
  16. By: Guillaume Denos (IAE Angers - Institut d'Administration des Entreprises (IAE) - Angers - UA - Université d'Angers, GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Pauline Olivier-Morinière
    Abstract: Cette communication repose sur le retour d'expérience croisé d'un chercheur et d'une porteuse de projet innovant en ESS faisant l'objet d'une recherche immersive depuis 2019. Nous partageons nos réflexions sur l'intérêt d'analyser et de s'engager dans ce type de projet en nous basant sur le cadre méthodologique de la recherche-action. Pour préciser les déclinaisons adaptées en recherche-action autour de nouveaux objets de l'ESS, nous revenons sur les tensions et difficultés rencontrées en considérant les regards d'acteur et de chercheur.
    Keywords: Recherche-action, ESS, entrepreneuriat, innovation sociale
    Date: 2023–05–24
  17. By: Feld, Lars P.; Köhler, Ekkehard A.
    Abstract: James Buchanan would have celebrated his 100th birthday in 2019. This serves as an inspiration to look at the future of public choice and the question of how much normativity public choice can bear. In our analysis we draw parallels between public choice and German ordoliberalism (and its source in the Freiburg School of Economics). We argue that the reception of ordoliberalism exemplifies easy-to-grasp pitfalls that should be taken seriously. We anchor the future agenda of public choice in a solid individualist perspective. Similar to ordoliberalism, public choice will have to clarify its relation to normative economics. The effects of rules and institutions and their working properties should be thoroughly analyzed empirically. The role of ideas is important for the normative foundation of both public choice/ constitutional economics and ordoliberalism, and is rooted in normative individualism. It provides a benchmark by which rules and institutions can be judged as favorable.
    Keywords: Public Choice, Methodology, James Buchanan, Normativity, Individualism
    JEL: B13 B26 B31 D78 E61 E63
    Date: 2023
  18. By: Halim, Kusuma Indawati
    Abstract: Profit measurement requires a high level of quality because it is considered as a guide for assessing investment and making decisions. This study aims to analyze the effect of the audit committee, accounting conservatism, leverage, and earnings growth on earnings quality. Total accruals are used as a proxy for earnings quality. The sample selection of 34 companies in the consumer goods industry used purposive sampling method. For the purposes of data analysis, secondary data is used in the form of financial statements for the 2015-2019 period. Panel data regression model was used for data analysis. The results showed that the audit committee had no effect on earnings quality, conservatism had a positive effect on earnings quality, while leverage and earnings growth had a negative effect on earnings quality
    Date: 2022–06–19
  19. By: McDermid, Sonali Shukla; Hayek, Matthew; Jamieson, Dale W; Hale, Galina; Kanter, David
    Abstract: The global food system, and animal agriculture in particular, is a major and growing contributor to climate change, land system change, biodiversity loss, water consumption and contamination, and environmental pollution. The copious production and consumption of animal products are also contributing to increasingly negative public health outcomes, particularly in wealthy and rapidly industrializing countries, and result in the slaughter of trillions of animals each year. These impacts are motivating calls for reduced reliance on animal-based products and increased use of replacement plant-based products. However, our understanding of how the production and consumption of animal products, as well as plant-based alternatives, interact with important dimensions of human and environment systems is incomplete across space and time. This inhibits comprehensively envisioning global and regional food system transitions and planning to manage the costs and synergies thereof. We therefore propose a cross-disciplinary research agenda on future target-based scenarios for food system transformation that has at its core three main activities: (1) data collection and analysis at the intersection of animal agriculture, the environment, and societal well-being, (2) the construction of target-based scenarios for animal products informed by these new data and empirical understandings, and (3) the evaluation of impacts, unintended consequences, co-benefits, and trade-offs of these target-based scenarios to help inform decision-making.
    Keywords: Animal agriculture, Plant based, Scenarios, Zero Hunger, Life on Land, Meteorology & Atmospheric Sciences
    Date: 2023–01–01
  20. By: Sadegh Eshaghnia; James J. Heckman; Goya Razavi
    Abstract: Education in Denmark is freely available. Despite near equal teacher salaries and per-pupil school expenditure across districts, there is substantial spatial heterogeneity in school quality as measured by teacher quality and student test scores. We argue that this is due to sorting of teachers and students across neighborhoods. We develop and apply multiple methods for identifying parental valuation of measured school quality in the presence of strong neighborhood sorting. There is strong concordance in the estimates across diverse methodologies. We estimate a willingness to pay of about 3% more for a house with average characteristics when test scores are one standard deviation above the mean. Controlling for selection into neighborhoods only slightly reduces our estimates. Given that school quality, as measured by monetary resources, is equalized across all neighborhoods, payments for school quality embodied in housing prices are in fact payments for peer, teacher, and neighborhood quality. This evidence challenges the appropriateness of the current emphasis in the literature on Tiebout-based models of neighborhood choice that stress sorting on parental income in order to finance the local public good of school quality. Rather, a model of neighborhood choice to select neighbor and peer quality is more appropriate. Our evidence is consistent with evidence that cash expenditures on classrooms have weak effects on child achievement.
    JEL: H0 H4 H70 I20 R0 R20 R3
    Date: 2023–06
  21. By: World Bank; Coll-Black, Sarah; Von Lenthe, Cornelius Claus; Koettl-Brodmann, Stefanie
    Abstract: This paper explores the social protection response to the COVID-19 pandemic in Armenia, Azerbaijan, Georgia, Moldova and Ukraine to learn lessons on how to build the resilience of their social protectionsystem. These countries made substantial efforts to address the most serious consequences of the pandemic, pragmaticallyharnessing existing programs to reach vulnerable groups, while also introducing innovations to fill gaps in theexisting social protection system. Rigidities in administrative systems, complex eligibility criteria, aswell as weaknesses in information systems, limited governments’ ability to quickly identify and reach thosehouseholds that were most vulnerable to the impact of the pandemic with adequate support. These challenges strengthenthe case for investment in crisis preparedness – most immediately by improving the functioning of socialprotection systems and setting out the design features and delivery systems to support a response to future covariate shocks.
    Date: 2023–06–29
  22. By: Ana Maria Ruiz Rivadeneira; Patrick Mcmaster
    Abstract: Multiple institutions are responsible for and contribute to ensuring that infrastructure investments meet policy objectives. The responsibilities of these institutions have evolved over time and vary from country to country, depending on tradition, constitutional arrangements, and government capacities. While they are often complementary, sometimes these responsibilities overlap, creating an additional level of complexity.Understanding the impact of the institutions involved with infrastructure will allow policymakers to make informed decisions. This paper explores both the ‘why’ and the ‘what’ of institutional arrangements. It provides a snapshot of the various institutions involved in the planning, financing, and delivery of infrastructure across OECD Member countries and identifies three broad types of institutional arrangements. The paper contributes to a better understanding of current trends in institutional change, the strengths and challenges of these institutional arrangements, and the potential for sharing experience and expertise among institutions and countries.
    Keywords: infrastructure, infrastructure banks, infrastructure commissions, infrastructure governance, institutional arrangements
    JEL: F55 H54 O18 D02
    Date: 2023–07–18

This nep-inv issue is ©2023 by Daniela Cialfi. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.