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on Transition Economics |
| By: | M. FRÖMMEL; G. GARABEDIAN; F. SCHOBERT |
| Abstract: | We estimate monetary policy rules for six central and eastern European countries (CEEC) during the period, when they prepared for membership to the EU and monetary union. By taking changes in the policy settings explicitly into account and by introducing several new methodological features we significantly improve estimation results for monetary policy rules in CEEC. We find that in the Czech Republic, Hungary and Poland the focus of the interest rate setting behaviour switched from defending the peg to targeting inflation. For Slovakia, however, there still seemed to be on ongoing focus on the exchange rate. For Slovenia and only after a policy switch for Romania we find a solid relation with inflation as well. |
| Keywords: | monetary policy, Taylor rules, transition economies, CEEC, inflation targeting |
| JEL: | E52 E58 P20 |
| Date: | 2009–08 |
| URL: | http://d.repec.org/n?u=RePEc:rug:rugwps:09/611&r=tra |
| By: | Fang, Cai; Yang, Du; Meiyan, Wang |
| Abstract: | China has witnessed the largest labor migration since the reform and opening up policies were implemented. According to the most recent statistics, the total number of rural to urban migrant workers reached 136 million. Migrants are defined as persons who have left out of township for more than 6 months. The migration flow has propelled the economic and societal transition in China through labor productivity enhancement and social restructuring. Accordingly, the Chinese government has improved the migration policies with increasing migration flow and the changes of labor market situations. This report is organized as follows. Section one briefly introduces when and how the migration started by reviewing the history, size and trend, impacts of migration in China and the vulnerability of migrants. Section two reviews the main migration policy changes in the past three decades. Section three illuminates the Lewisian turning point that marks economic development and transitioning in China. Section four discusses the relevance of China’s experiences to other developing economies in terms of economic development and migration policy changes. |
| Keywords: | Migration in China; Labor mobility; Impact of crisis |
| JEL: | O15 J0 |
| Date: | 2009–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19187&r=tra |
| By: | Mirdala, Rajmund |
| Abstract: | Exchange rate plays an important role in transmitting pressures from the external shocks to the domestic economy. Development of inflation in the domestic economy is significantly determined by the ability of exchange rate to transmit external price related pressures to the domestic market. Considering the new EU member countries obligation to adopt euro the loss of the monetary sovereignty should be analyzed not only in the view of the direct positive and negative effects of this decision but also in the view of many indirect effects. While the exchange rates of majority of the EMU candidate countries are strongly affected by the euro exchange rate on the international markets there is still room for them to float partially reflecting changes in the national economic development. Ability of the exchange rate to transfer external shocks to the national economy remains one of the most discussed areas relating to the current stage of the monetary integration process in the European single market. In the paper we analyze the ability of the exchange rate to weaken or eventually to strengthen the transmission of the external inflation pressures to the national economy in the Czech republic, Hungary, Poland and the Slovak republic. In order to meet this objective we estimate a vector autoregression (VAR) model correctly identified by the Cholesky decomposition of innovations that allows us to identify structural shocks hitting the model. Variance decomposition and impulse-response functions are computed in order to estimate the exchange rate pass-through from the foreign prices of import to the domestic consumer price indexes in the Visegrad countries. Ordering of the endogenous variables in the model is also considered allowing us to check the robustness of the empirical results. |
| Keywords: | exchange rate; inflation; VAR; Cholesky decomposition; variance decomposition; impulse-response function |
| JEL: | C32 E52 |
| Date: | 2009–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19282&r=tra |
| By: | Ansgar Belke; Gunther Schnabl; Holger Zemanek |
| Abstract: | The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the monetary overinvestment theories of Wicksell and Hayek in order to trace cyclical deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1993 to 2008 reveal mixed evidence for the role of capital markets for both the economic catch-up process and international competitiveness of the Central and Eastern European countries. |
| Keywords: | Exchange rate regime, wages, Central and Eastern Europe, EMU accession, panel model |
| JEL: | E24 F16 F31 F32 |
| Date: | 2009–10 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0147&r=tra |
| By: | Roman Stöllinger (The Vienna Institute for International Economic Studies, wiiw); Gábor Hunya (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | On a global level, the EU emerges as the most important foreign direct investor, also if considering extra-EU investments only. This reflects the capability and propensity of EU firms to internationalize their business activities. A joint analysis of two methodologically very distinct databases - Eurostat FDI data for FDI flows and stocks, and the FDI Intelligence from Financial Times Ltd. for the number of investment projects - made it possible, for the period 2001-2007 and 2003-2008 respectively, to reveal several facts and trends concerning the competitive position of EU firms in the BRICs and vice versa. The EU is among the main investors in each of the BRICs and the dominant investor in Brazil and Russia. In China and India, the EU has less weight. But after correcting for particularities in FDI data, such as the prominent role of Hong Kong and off-shore centres in Chinese FDI and of Mauritius in Indian FDI, the EU ranks higher also in these countries. In a direct comparison with the US and Japan, the EU emerges as the leading investor among the Triad countries in each of the BRICs. This suggests that EU firms are well positioned to compete with other multinational corporations in the BRICs. The analysis of the number of projects confirms this finding, the role of the EU in China is much greater than suggested by FDI data. China emerges as the main BRICs target for EU projects, but in terms of FDI inflows China occupies rank three after Russia and Brazil. The divergent results can be explained by the small number of very large projects in the natural resource sector of Russia and the great number of finance- and trade-related small investments in China. In some cases, FDI has become the major entry strategy of EU firms into the BRICs markets. Global and EU-15 investments in the BRICs, as measured by the number of investment projects, were resilient to the global crisis until 2008. With regards to the current economic downturn and the expected drop in global FDI, the BRICs may find themselves in a privileged position in several respects. First of all they are large economies where FDI is mainly attracted by the local markets with growth expectations above world average, although not in Russia. Local economic growth especially in China and India will allow for FDI to grow if companies from crisis-hit countries are in the position to invest. Larger multinationals may increasingly concentrate on the very few countries in the world where they can expand sales, such as China, India and Brazil, and shift investments there. Also for European companies the expansion to the BRICs remains a major attraction. Due to the size of the BRICs and their distance to Europe, only larger or more specialized investors may benefit from this opportunity. The main conclusion based on the statistical analysis is that the EU is well positioned as a direct investor both on the global level and in the BRICs. In the fast growing markets of China and India, however, the share of EU firms in total FDI is rather low and not particularly dynamic. As investments in such geographically more distant places are mainly realized by large corporations while SMEs typically limit their foreign operations to nearby countries, policy levers may be necessary to expand EU presence there. This is all the more desirable as China and India have a high market potential and EU firms can expect high returns on FDI. |
| Keywords: | FDI, competitiveness, EU, BRICs, Brazil, China, European Union, India, Russia, Foreign Direct Investment |
| JEL: | F21 O52 O53 O54 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:wii:rpaper:rr:358&r=tra |
| By: | Kroll, Henning; Schiller, Daniel |
| Abstract: | China's technological capabilities are emerging rapidly and the country will become a major challenger to established nations in terms of R&D and innovation in the near future. For the moment, however, contradictory signals emerge from the Chinese economy leaving experts pondering about the country's true potential for technological upgrading on a broad scale. The integration of the domestic research system, international technology transfer, and technological development remains limited to a few high-tech companies, while large segments of the domestic private sector have limited access to knowledge and technologies to upgrade their activities. -- |
| Keywords: | China,Guangdong,interface,knowledge supply,knowledge demand,regional innovation system,science-industry relations |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisidp:17&r=tra |
| By: | Kroll, Henning; Tagscherer, Ulrike |
| Abstract: | The dynamic economic development of Guangdong province is one of the most prominent examples of China's catch-up in the course of the past two decades. Once chosen as the nation's first experimental field for the market economy, the province continued to participate above average in national economic growth ever since. Up to today, it maintains a leading position with regard to general industrial performance and average personal income. As China's industry begins to embark on a path of technological up-grading, however, this pre-eminent position begins to be challenged. In the nation's emerging fields of strength, the province's rivals, Beijing and Shanghai, are in a better starting position since they are better endowed with both R&D capacities and qualified human capital. In this context, our paper illustrates the resulting challenges by means of a number of specialized indicators and explains why, despite a continously impres-sive export performance in the high-tech sectors, Guangdong is far from well prepared to maintain its current position. Finally, it briefly describes the policy responses that have been developed, concluding that despite clear evidence of progress some key issues with regard to regional innovation policy appear to remain unaddressed. -- |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisidp:19&r=tra |
| By: | Yu Zhu; Zhongmin Wu; Meiyan Wang; Yang Du; Fang Cai |
| Abstract: | This paper studies the impact of remittances on the savings behaviour of rural households in China, using a cross-sectional survey. Allowing for endogeneity and left-censoring of remittances, we find that the marginal propensity to save out of remittances is well below half of that out of other sources of incomes. Moreover, we find no evidence of any direct effect of remittances on either capital input or gross output of farm production. These findings are in line with recent studies which conclude that remittances are largely used for consumption purposes by rural Chinese households and there is no link between migration and productive investment. |
| Keywords: | Growth and cycles; recessions; technical efficiency; technical progress. |
| JEL: | D12 O15 R23 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:ukc:ukcedp:0923&r=tra |
| By: | Peter Havlik (The Vienna Institute for International Economic Studies, wiiw); Olga Pindyuk (The Vienna Institute for International Economic Studies, wiiw); Roman Stöllinger (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | This policy paper, prepared as part of the Background Study for the European Competitiveness Report 2009, analyses the external trade in goods and services between the EU and the BRICs. The paper starts with the analysis of the global position of the EU and the BRICs in world trade (using the IMF DOT and UN COMTRADE databases) and moves subsequently to a more detailed analysis of regional (individual EU countries' trade with the BRICs), commodity and industry-specific trade specialization patterns, using the Eurostat Comext database. The key features of services trade are addressed as well. |
| Keywords: | foreign trade, trade specialization, competitiveness, European Union, Brazil, Russia, India, China, Industry, International Trade and Competitiveness, Services |
| JEL: | F10 F14 F23 |
| Date: | 2009–11 |
| URL: | http://d.repec.org/n?u=RePEc:wii:rpaper:rr:357&r=tra |
| By: | Ivakhnyuk, Irina |
| Abstract: | For Russia, migration policy – in terms of internal or/and international migration flows management – was an ever-important element of the State activities. Concentrated on State interests, the policy also resulted in human development. The paper presents a historical overview of the Soviet and Russian migration policies with special emphases on the impact on human development and the driving forces behind the changing policies. The Soviet period can be characterized as contradiction between strict limitations on the freedom of movement provided by the propiska system, and large-scale population movements, both voluntary and involuntary, that were inspired by economic and administrative policy measures to meet labor demand of an industrializing economy. In the post-Soviet period, international migration is the major focus of the Russian migration policy. The Russian Federation is the major receiving country in the vast former USSR territory. The evolution of Russian migration policy in the post- Soviet period is a good example for getting a better understanding of how the everlasting conflict between the need for additional human resources and anti-immigrant public moods (typical of all receiving countries), combined with the opportunistic considerations of political elites, that hampers the elaboration of a reasonable long-term migration strategy. Russian migration policy has been drifting from a relatively open immigration regulation based on a laissez faire approach in the early 1990s to restrictive immigration laws in the early 2000s and to an ‘open door’ migration policy in respect to CIS citizens in 2007. |
| Keywords: | Human development; internal migration; international migration; migration policy; Russia |
| JEL: | Z1 O15 E6 |
| Date: | 2009–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19196&r=tra |
| By: | Prema-chandra Athukorala; Tran Quang Tien |
| Abstract: | This paper examines the role of foreign direct investment (FDI) in the process of industrial transition in Vietnam in the context of market-oriented reforms undertaken over the past two decades. The findings are consistent with the conventional wisdom that concomitant liberalization of trade and investment regimes, accompanied by creating a congenial environment for market-based decisions by the private agents, is vital for reaping developmental gains form FDI. During the 1990s growth of employment in foreign invested enterprises (FIEs) lagged behind output growth, reflecting the capitalintensity bias of production in a partially-liberalized economy. This pattern has changed notably in recent years as the reform process gained momentum. Of particular significance in this connection is the growing importance of assembly activities by FIEs in electronics and other high-tech industries. |
| Keywords: | Vietnam, Asia, foreign direct investment, transitional economy, multinational enterprises |
| JEL: | F23 O53 P23 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:pas:papers:2009-20&r=tra |
| By: | Peter Kuhn; Kailing Shen |
| Abstract: | We study firms’ advertised preferences for gender, age, height and beauty in a sample of ads from a Chinese internet job board, and interpret these patterns using a simple employer search model. We find that these characteristics are widely and highly valued by Chinese employers, though employers’ valuations are highly specific to detailed jobs and occupations. Consistent with our model, advertised preferences for gender, age, height and beauty all become less prevalent as job skill requirements rise. Cross-sectional patterns suggest some role for customer discrimination, product market competition, and corporate culture. Using the recent collapse of China’s labor market as a natural experiment, we find that firms’ advertised education and experience requirements respond to changing labor market conditions in the direction predicted by our model, while firms’ advertised preferences for age, gender, height and beauty do not. |
| JEL: | J6 J7 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:15564&r=tra |
| By: | Gligorov, Vladimir |
| Abstract: | Migration from the European economies in transition is discussed on the bases of the research carried out within the framework of the Global Development Network over the last four to five years. Trade-offs between functionings and capabilities are traced in cases of voluntary and involuntary migration as well as in the case of permanent and temporary migration. Various causes and effects of migration are considered. Policy proposals end the paper. There is a literature review in the appendix with the view to check the claims made in the public debate on migration against the existing knowledge on that subject. |
| Keywords: | transition countries; migration; labour markets; European integration |
| JEL: | Z1 O15 |
| Date: | 2009–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19198&r=tra |
| By: | Judith Thornton |
| Date: | 2009–11 |
| URL: | http://d.repec.org/n?u=RePEc:udb:wpaper:uwec-2009-22&r=tra |
| By: | Xian Xin; Xiuqing Wang (China Agricultural University); Xiaoyun Liu (China Agricultural University); Xuefeng Mao |
| Abstract: | It has been argued that the influences of agriculture on the macro economy will be weakening along with economic development. We in this paper assess the impact of agricultural output changes on the general price level over time with China as an example. Our results suggest that China witnessed a declining influence of agricultural output changes on general price changes. The contribution of given agricultural output change on the general price change in 2005 was merely less than 60% of that in 1987, which in turn implies that macro policies targeting to curb general inflation via boosting agricultural output will be less effective as those of twenty years ago. We generate these results with the general equilibrium model calibrated to aggregated China¡¯s input-output tables of 1987, 1997, and 2005. |
| Keywords: | Inflation; General Equilibrium Model |
| JEL: | E31 Q10 |
| Date: | 2009–05 |
| URL: | http://d.repec.org/n?u=RePEc:cau:wpaper:0902&r=tra |
| By: | Abazov, Rafis |
| Abstract: | This paper assesses recent migration trends in the Commonwealth of Independent States (CIS). Within the last decade (1999-2009) the Russian Federation became the world’s second largest recipient of migrants after the United States, while the Ukraine became the fourth largest and Kazakhstan became the ninth largest. Such large-scale population movement, which includes a significant number of labour migrants from resource-poor to resource-rich states in the region, has had an inevitable impact on the social, economic and human development in both source and host countries. By 2007-2009 Moldova, Tajikistan and Kyrgyzstan have develop a high dependency on international money transfers from their labour migrants, having the world’s highest ratio of remittances to their GDP. During last few years numerous studies focused on migration issues within the CIS region, yet there are a number of problems to be still explored: What are the “push” and “pull” factors that motivate this large-scale migration? What are the current trends in the labour migration in the CIS? What are the short-term and long-term implications of the current migration trends for migrants and their families? What is the impact of the migration on human development in the region, including poverty reduction, social and gender equality, education and health? The paper addresses these and other questions. First, it evaluates the historical, political and social background and demographic context of the population movement in the region, which has become one of the most important determinants of migration during the recent times. Second, it overviews the most important push and pull factors that have affected migration during recent years and different types of migration responses to the social and economic pressures in sending and receiving countries. Third, it reviews the major impacts of the population movement on human development in the CIS region. In conclusion the paper summarizes the major findings and provides policy recommendations. |
| Keywords: | labour migration; regional labour market; human development; poverty; migration policy; remittances; rural-urban migration; urbanization; CIS; Kazakhstan; and Russia |
| JEL: | O15 J0 |
| Date: | 2009–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19220&r=tra |
| By: | Ha, Wei; Yi, Junjian; Zhang, Junsen |
| Abstract: | This paper examines the effects of both permanent and temporary emigration on human capital formation and economic growth of the source regions. To achieve this end, this paper explores the Chinese provincial panel data from 1980 to 2005. First, the fixed effects model is employed to estimate the effect of emigration on school enrollment rates in the source regions. Relative to this aspect, we find that the magnitude (scale) of permanent emigrants (measured by the permanent emigration ratio) is conducive to the improvement of both middle and high schools enrollments. In contrast, the magnitude of temporary emigrants has a significantly positive effect on middle school enrollment but does not have a significant effect on high school enrollment. More interestingly, different educational attainments of temporary emigrants have different effects on school enrollment. Specifically, the share of temporary emigrants with high school education positively affects middle school enrollment, while the share of temporary emigrants with middle school education negatively affects high school enrollment. Second, the instrumental variable method is applied to estimate the effect of emigration on economic growth within the framework of system Generalized Method of Moments (GMM). The estimation results suggest that both permanent and temporary emigrations have a detrimental effect on the economic growth of the source regions. Our empirical tests provide some new evidence to the "brain drain" debate, which has recently received increasing attention. |
| Keywords: | Brain drain; human capital; emigration; economic growth |
| JEL: | O15 J22 J24 O12 |
| Date: | 2009–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19221&r=tra |
| By: | Martin, Philip |
| Abstract: | This paper provides a comprehensive assessment of international migration in the Asia-Pacific region and reviews internal migration in China. After putting Asia-Pacific migration in a global context, it reviews trends in migration and the impacts of migrants in the major migrantreceiving countries, patterns of migration and their development impacts in migrant-sending countries, the human development impacts of migration, and three policy issues, viz, new seasonal worker programs for Pacific Islanders in New Zealand and Australia, required local sponsorship of foreigners in the Gulf countries, and the economic effects of migrants in the US and Thailand. Recent trends in internal migration in China, which shares attributes of international migration because of the hukou (household registration) system, are also assessed. |
| Keywords: | International labor migration; migrant workers; guest workers; Asia |
| JEL: | O15 J0 |
| Date: | 2009–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19215&r=tra |
| By: | Kalvet, Tarmo |
| Abstract: | Innovation policy forms a foundation, and probably the most important one, of economic development in any society, especially in today’s society driven by information and communication technologies (ICT). The Schumpeterian processes of creative destruction need stewardship – creative destruction management – and this paper aims to explore some key aspects of innovation policies from the perspective of the current ICT paradigm. The basic feature of the latter is the trend towards globalisation, towards facilitation of heterogeneity, diversity, and adaptability, which leads to market segmentation and niche proliferation as well as to production disaggregation and segment relocation. Analysis of innovation policies of the Central and Eastern European (CEE) countries shows that their current national innovation system based innovation policies are lacking several crucial features. First, one of the central arguments of creative-destruction management is paradigm-based, activity-specific priority-setting, but such wide-scale selection mechanisms have been and are still missing, and currently innovation policies by themselves can not lead to economic restructuring. Second, the whole concept of innovation systems has to a large extent focused on activities related to the production and use of codified scientific and technical knowledge leading to the situation where existing policies have essentially nothing to do with the average companies. Third, the current paradigm is characterised by globalised and open financial markets which, in case of the CEE countries, have enforced speculative economic growth, fuelled by domestic consumption and based on foreign borrowing. Finally, while the state is generally considered an important factor influencing how concrete innovation systems develop, linkages to policymaking itself and administrative capacities are quite missing and need to be revived, including the reconsideration of governance. |
| Keywords: | innovation; economic development; innovation policy; ICT Paradigm; open innovation; governance; dissertations; |
| JEL: | O38 O30 B52 O20 B15 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19387&r=tra |
| By: | Sofka , Wolfgang; Grimpe, Christoph |
| Abstract: | Searching for externally available knowledge has been characterized as a vital part of the innovation process. The availability of such innovation impulses, however, critically depends on the environment a firm is operating in. Little is known on how institutional infrastructures for innovation differ with respect to the munificence in providing innovation impulses. In this paper, we suggest that these differences are particularly pronounced between established market economies and transition economies. We argue that these differences shape a firm's search pattern and that the search pattern subsequently moderates the relationship between innovation inputs and outputs. Based on a sample of more than 4,500 firms from ten European countries we find that search strategies differ considerably between established market and transition economies. Search in transition economies is characterized by much more variety. However, management capacity in these countries is a particularly scarce resource which is why focused search strategies turn out to be most successful. -- |
| Keywords: | Search strategies,open innovation,transition economies,institutional infrastructure for innovation |
| JEL: | L60 O32 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:09061&r=tra |
| By: | Pierre Beynet; Willi Leibfritz |
| Abstract: | This paper examines various aspects of fiscal policy in Slovenia, in particular fiscal consolidation, pension reform, efficiency of government spending and the tax system. It finds that Slovenia belongs to the group of new EU member countries, which have given in the past a high priority to fiscal prudence. This both stabilised the economy and paved the way for entry to the EU in 2004 and adoption of the euro in 2007. It also created room to counteract the current weakening of the economy. But fiscal policy has to cope with four main challenges: i) ensuring a return to fiscal consolidation after the current economic downturn; ii) achieving longer-term fiscal sustainability by continuing pension reform; iii) limiting growth of public spending and improving its quality; and iv) making the tax system less distorting for job creation and growth. This Working Paper relates to the 2009 OECD Economic Survey of the Slovenia (www.oecd.org/eco/surveys/slovenia).<P>Assurer la viabilité des finances publiques slovènes<BR>Cet article examine différents aspects de la politique budgétaire de la Slovénie, en particulier l’assainissement budgétaire, la réforme des retraites, l’efficience des dépenses publiques et la fiscalité. La Slovénie peut ainsi disposer d’une marge pour contrecarrer l’affaiblissement actuel de son économie. Mais la politique budgétaire se trouve confrontée à quatre problèmes majeurs : i) faciliter le retour à l’assainissement budgétaire après le ralentissement économique actuel ; ii) assurer la viabilité budgétaire à plus long terme en poursuivant la réforme des retraites ; iii) freiner la croissance des dépenses publiques et améliorer la qualité de ces dépenses ; et iv) faire en sorte que le système fiscal fausse moins la création d’emplois et la croissance. Ce Document de travail se rapporte à l’Étude économique de l’OCDE de la Slovénie 2009 (www.oecd.org/eco/études/slovénie). |
| Keywords: | fiscal policy, fiscal sustainability, generational accounting, pension reform, public spending, Slovenia, taxation, comptabilité générationnelle, copaiement, dépenses publiques, fiscalité, politique budgétaire, réforme du système de retraite, Slovénie |
| JEL: | H21 H50 H55 H6 H62 H63 |
| Date: | 2009–11–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:734-en&r=tra |
| By: | Matei , Lucica |
| Abstract: | The provisions of Bologna Declaration are ongoing implemented in several South- Eastern European states, members or non members of the European Union. For most states, important restructuring processes for the legal framework and organisation system of higher education were imperative. At the same time, the content of the programmes for all the three cycles was revised in order to follow closely the finalities stipulated in the European documents, substantiating the European Higher Education Area. In this context, the current paper aims to carry out the comparative analysis for the actual level attained by the mentioned states in implementing Bologna Process, with special attention towards higher education in the area of public administration. Research teams, led by the author of this paper have analysed the degree of curricular compatibility of the Bachelor programmes from various European states. This time, the research will focus on describing the process of convergence related to the delivery modalities and the content of the Master programmes in the area of public administration, corresponding to the second cycle of Bologna system. The indicators of convergence will be defined related to the standards of evaluation,used by EAPAA for accreditation of the public administration programmes. |
| Keywords: | Bologna process;M A public administration programmes;convergence |
| JEL: | D73 H75 I21 |
| Date: | 2009–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19259&r=tra |
| By: | Tomislav Ćorić (Department of Economics, School of Business Administration, Fort Lewis College); Dajana Cvrlje (Faculty of Economics and Business, University of Zagreb) |
| Abstract: | A trend of increasing role of central bank's independence took place in the most of modern economies. The central bank independence (CBI) is seen as a way of bringing economy to a higher level. It is argued that an independent central bank is more credible and moreover, that the higher degree of central bank independence facilitates central bank to identify signals of financial problems and alert financial markets. Furthermore, an independent central bank is less likely to be exposed to the inflationary bias, inherent in monetary policy, and is more aware of the inflation costs of expansionary monetary policy. This is in line with Friedman’s theoretical concept that the phenomenon of inflation is to be regulated by controlling the amount of money poured into the national economy by the central bank. In order to achieve the main goal; price stability, it is essential for a central bank to be connected to government as little as possible. However, governments generally have a certain influence over central banks, even in the case of banks who claim to be independent. The first part of the paper offers theoretical background for the central bank independence (CBI concept). The empirical evidence on the relationship between central bank independence and economic variables suggests negative relationship between central bank independence and inflation. The strong evidence of central bank independence influence on other macroeconomic variables so far has not been found. The analysis of the independence of Croatian national bank was made using 3 different methods; 1) central bank governor turnover rate (TOR), 2) Petursson G. Thorarinn criterion and 3) Cukierman, Webb and Neyapti (CWN) questionnaire. The obtained results affirm high level of central bank independence in Croatia. |
| Keywords: | monetary policy, central bank independence |
| JEL: | E58 |
| Date: | 2009–11–12 |
| URL: | http://d.repec.org/n?u=RePEc:zag:wpaper:0909&r=tra |