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on Transition Economics |
| By: | Slonimczyk, Fabian (Higher School of Economics, Moscow); Gimpelson, Vladimir (CLMS, Higher School of Economics, Moscow) |
| Abstract: | Informality is a defining characteristic of labor markets in developing and transition countries. This paper analyzes patterns of mobility across different forms of formal and informal employment in Russia. Using the RLMS household panel we estimate a dynamic multinomial logit model with individual heterogeneity and correct for the initial conditions problem. Simulations show that structural state dependence is weak and that transition rates from informal to formal employment are not lower than from other origin states. These results lend support to the integrated view of the labor market. |
| Keywords: | informality, labor mobility, initial conditions problem, state dependence |
| JEL: | J6 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7703&r=tra |
| By: | Olofsgård, Anders (Stockholm Institute of Transition Economics); Perrotta, Maria (Stockholm Institute of Transition Economics); Frot, Emmanuel (Microeconomix) |
| Abstract: | We argue that the tilt towards donor interests over recipient needs in aid allocation and practices may be particularly strong in new partnerships. Using the natural experiment of Eastern transition we find that commercial and strategic concerns influenced both aid flows and entry in the first half of the 1990s, but much less so later on. We also find that fractionalization increased and that early aid to the region was particularly volatile, unpredictable and tied. Our results may explain why aid to Iraq and Afghanistan has had little development impact and serve as warning for Burma and Arab Spring regimes. |
| Keywords: | foreign aid; development |
| JEL: | F35 |
| Date: | 2013–10–22 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:hasite:0025&r=tra |
| By: | Zhang, Chunni; Xu, Qi; Zhang, Xiaobo; Xie, Yu |
| Abstract: | Knowledge of actual poverty prevalence is important for any society concerned with improving public welfare and reducing poverty. In this paper, we calculate and compare the poverty incidence rate in China using four nationally representative surveys: the China Family Panel Studies (CFPS) of 2010, the Chinese General Social Survey (CGSS) of 2010, the Chinese Household Finance Survey (CHFS) of 2011, and the Chinese Household Income Project (CHIP) of 2007. |
| Keywords: | Poverty, Household surveys, Household expenditures, household consumption, Surveys, income, Sociology, |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:1293&r=tra |
| By: | Yue Ma (Lingnan University); Heiwai Tang (Tufts University and MIT Sloan); Yifan Zhang (Lingnan University) |
| Abstract: | This paper analyzes the causal relations between firms' productivity, factor intensity and export participation. Using propensity score matching techniques and firm-level panel data for Chinese manufacturing firms over the 1998-2007 period, we find strong evidence of domestic firms self-selecting into export markets with higher productivity ex ante, and enhanced productivity ex post. No such pattern is observed among foreign-invested ?rms. We also find that both domestic and foreign new exporters exploit China?s low labor costs and specialize in their core competence, that is, firms become less capital-intensive after exporting, relative to the matched non-exporting counterparts in the same industry. To rationalize these results that contrast with most findings in the existing literature, we develop a variant of the multi-product model of Bernard, Redding, and Schott (2010) to consider varying capital intensity across products. Using transaction-level export data, we find evidence that Chinese exporters add new products that are more labor-intensive than existing products and drop products that are less labor- intensive, supporting the model predictions. Firms with a bigger decline in capital intensity after exporting are found to have a larger increase in measured TFP. |
| Keywords: | Exporters, Productivity, Factor Intensity, Multi-product Firms |
| JEL: | F11 L16 O53 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:dpc:wpaper:0913&r=tra |
| By: | Elena Vakulenko |
| Abstract: | We investigate the relationship between the main indicators of the labour market in Russia. We try to construct a model of the Russian labour market and identify key relationships. Our special attention is drawn to the impact of the crisis on the Russian labour market and influence of oil price on labor market indicators. We estimated two types of models. They are systems of simultaneous equations model (SEM) and VECM. We received that real wage in Russia are more flexible than employment. During the crisis period real wage was decreasing. SEM model shows that real wage positively depends on real oil price. While the number of employed and unemployment don’t depend on real oil price. |
| Keywords: | labour market, time series models, Russia |
| JEL: | J20 J40 |
| Date: | 2013–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:pia:wpaper:120/2013&r=tra |
| By: | Guilhem Fabre (CCJ - Chine, Corée, Japon - CNRS : UMR8173 - École des Hautes Études en Sciences Sociales [EHESS] - Université Paris VII - Paris Diderot, Séminaire BRICs - Fondation Maison des Sciences de l'Homme) |
| Abstract: | Following the global crisis, the stimulus package of 2009-2010, with its huge expansion of credit, marked the end of " Cheap China ", with the underpricing of labor, capital, land, energy and currency, and disproportionally shifted growth in favor of the public sector and real estate, the lion's share of the State-Party system. The present process of deleveraging must adress the unprecedented inequities which stem from distortions in the allocations of resources and the respective functions of the central and local governments. |
| Keywords: | China; economy; slowdown; leverage; inequalities |
| Date: | 2013–10–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-00874077&r=tra |
| By: | Vincenzo Atella (University of Rome Tor Vergata and CHP-PCOR Stanford University); Agar Brugiavini (Universy Ca' Foscari of Venice and Venice International University); Noemi Pace (xUniversy Ca' Foscari of Venice, and CEIS Tor Vergata) |
| Abstract: | This paper aims at evaluating the impact of 1998 Chinese health care reform on out-of-pocket expenditure and on saving. Existing evidence on the results achieved by this reform in terms of reduction of out-of-pocket medical expenditures is still mixed and contradictory, and very little is known about the impact of these measures on the consumption and saving behavior of the Chinese population. To shed more light on this issue we use data collected by the Chinese Household Income Project (CHIP), through a series of questionnaire-based interviews conducted in urban areas in 1995 and 2002. Contrary to previous evidence, our ndings suggest that, once properly accounting for unobserved heterogeneity (health status), out-of-pocket medical expenses and saving rate are affected by the reform in a differentiated way. In particular, we find that out-of-pocket expenses increase more for individuals with poor health status and the saving rate increases only for individual with good health status. |
| Keywords: | China, Health Insurance, Health care system reform, Household Saving, Out-of-pocket expenditures. |
| JEL: | D14 I13 P36 |
| Date: | 2013–10–22 |
| URL: | http://d.repec.org/n?u=RePEc:rtv:ceisrp:296&r=tra |
| By: | Hillebrand, Evan; Bervoets, Jeremy |
| Abstract: | Abstract: Daniel Drezner’s 1999 book The Sanctions Paradox used case studies from the former Soviet Union in the 1990s to test his game-theoretic model—the Conflict Expectations Model--of sanctions behavior. The model purports to help predict whether or not a “sender” will resort to economic sanctions to extract concessions from a “target” and whether the target will concede or resist. The model explained quite well the amount of concessions demanded by Russia in the 1990s and the degree of compliance by the 14 new states. Russia is still using economic leverage to reap economic advantage and political influence over its former constituent republics. In this paper we examine the pressures exerted by Russia in the 2000s and their results, using Drezner’s model to see if the model performed as well as before. We found (1) that Russia continued to make extensive use of economic sanctions to influence political decisions in the NIS in the 2000s, (2) that the sanctions were considerably less effective than they had been in the 1990s, (3) that the Drezner model continued to shed light on the sanctions effort but was less accurate in its predictions than it had been in the 1990s. One tentative conclusion from this analysis is that Russia’s sanctions successes in the 1990s created a strong desire in many of the NIS to reduce Russia’s economic leverage over them by diversifying their trade and energy links. It is possible that a less aggressive Russian strategy in the 1990s – though it might have brought smaller short term gains – could have better served Russian’s long term interests |
| Keywords: | Russia, Sanctions, Economic, Conflict, Expectations, CIS |
| JEL: | F51 N4 P2 |
| Date: | 2013–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50954&r=tra |
| By: | International Monetary Fund. European Dept. |
| Abstract: | KEY ISSUES Context. Growth has slowed amidst weak investment and external demand, while the output gap appears to be at or near zero and inflation is elevated. Activity is currently weak, but is expected to accelerate somewhat later this year. However, structural factors constrain medium-term prospects. The introduction of a new oil price-based fiscal rule, a more flexible exchange rate, and operational improvements in monetary policy have strengthened the macroeconomic policy framework. Financial sector reform has progressed, though sector indicators are mixed and rapid growth in unsecured retail credit is of some concern. Risks remain tilted to the downside, including on account of possible external (e.g., oil price) and domestic (e.g., investor sentiment) shocks. Near-term macroeconomic policy mix. Calls for policy stimulus are testing Russia’s newly strengthened macroeconomic anchors. But absent a widening output gap, expansionary fiscal and monetary policies would at best provide only a modest and unsustainable increase in GDP, while generating overheating and greater policy uncertainty. So far, the Central Bank of the Russian Federation (CBR) has kept its main policy interest rate on hold. Fiscal policy is appropriately neutral this year but is under threat from off-budget spending plans. To contain inflation and reduce risks, the authorities should keep monetary policy on hold with a tightening bias, resist additional fiscal stimulus, and consider further measures to dampen excessive retail credit growth. Medium-term policy challenges. To reach higher sustainable growth, Russia needs to further strengthen the macroeconomic policy framework and implement supply-side reforms. The authorities should gradually tighten the fiscal rule to rebuild fiscal buffers and save more of the nation’s exhaustible oil income. The CBR should complete its transition to a flexible exchange rate and inflation targeting (IT) by end-2014 as planned, which, combined with fiscal policy changes, would help anchor inflation expectations. To mitigate supply-side growth constraints, Russia should reduce the regulatory burden to facilitate more private sector activity in key sectors, strengthen the financial sector to improve its ability to channel savings into productive investment projects, increase transparency, and enhance the business climate. Further global integration, including completing OECD accession, would support and broaden these efforts. |
| Date: | 2013–10–21 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:13/310&r=tra |
| By: | Alena Petrushkevich |
| Abstract: | The challenges for the Russian Federation development have been studied in the article by examining the role of the country in the international merchandise trade, trade in services and FDI flows; the evolution of Russian trade patterns by geographical structure and by industries; the compositionof Russian outward and inward FDI. The drivers for sustainable economic development of the Russian Federation have been revealed as well as the main hindrances that may impede a stable economic growth. |
| Keywords: | working paper, daadpartnership, finance-and-trade |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:mtf:wpaper:1305&r=tra |
| By: | Selim Elekdag; Dirk Muir |
| Abstract: | Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic integration which has lead to the development of a dynamic supply chain within Europe—the Germany-Central European Supply Chain (GCESC). Model-based simulations suggest two key policy implications: First, as a reflection of strengthening trade linkages, German fiscal spillovers to the CE4 and more broadly to the rest of the euro area, have increased over time, but are still relatively small. This is explained by the supply chain nature of trade integration: final demand in Germany is not necessarily the main determinant of CE4 exports to Germany. Second, increased trade openness in both Germany and the CE4 implies a greater exposure of the GCESC to global shocks. However, owing to its strong fundamentals—including sound balance sheets and its safe haven status— Germany plays the role of a regional anchor of stability by better absorbing shocks from other trading partners instead of amplifying their transmission across the GCESC. |
| Keywords: | Trade integration;Germany;Czech Republic;Hungary;Poland;Demand;External shocks;Spillovers;Germany, Czech Republic, Hungary, Poland, Slovakia, vertical integration, vertical specialization, supply chain, fiscal policy, balance sheets, spillovers, DSGE models, financial accelerator. |
| Date: | 2013–10–14 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:13/210&r=tra |
| By: | Slonimczyk, Fabian (Higher School of Economics, Moscow); Yurko, Anna (Higher School of Economics, Moscow) |
| Abstract: | With declining population and fertility rates below replacement levels, Russia is currently facing a demographic crisis. Starting in 2007, the federal government has pursued an ambitious pro-natalist policy. Women who give birth to at least two children are entitled to "maternity capital" assistance ($11,000). In this paper we estimate a structural dynamic programming model of fertility and labor force participation in order to evaluate the effectiveness of the policy. We find that the program increased long-run fertility by about 0.15 children per woman. |
| Keywords: | fertility, female labor supply, structural estimation, Russia |
| JEL: | J13 C61 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7705&r=tra |
| By: | Liu, Elaine M. (University of Houston); Meng, Juanjuan (Peking University); Wang, Joseph Tao-yi (National Taiwan University) |
| Abstract: | This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became significantly more risk loving, less loss averse, and more impatient after being primed with Confucianism, whereas Taiwanese subjects became significantly less present-based and were inclined to be more trustworthy after being primed by Confucianism. Combining the evidence from the incentivized laboratory experiments and subjective survey measures, we found evidence that Chinese subjects and Taiwanese subjects reacted differently to Confucianism. |
| Keywords: | social norm, Confucianism, time preferences, risk aversion, trust |
| JEL: | C91 Z10 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7684&r=tra |
| By: | Malhar Nabar; Papa M'B. P. N'Diaye |
| Abstract: | China’s current growth model— which has delivered steady and robust growth for two decades and lifted some 500 million individuals out of poverty—has become too reliant on credit and investment, and has begun to experience diminishing returns. Delays in advancing the government’s reform agenda will mean that vulnerabilities continue to grow and the probability of stalled convergence increases. On the other hand, with reforms to accelerate TFP growth and shift the economy away from its continued reliance on capital accumulation, China can grow at a healthy pace and maintain its convergence toward the level of high income economies. Evidence from China’s provinces indicates that there is room to improve productivity and sustain such a convergence toward the level of more prosperous economies. |
| Keywords: | Economic growth;China;Productivity;Capital accumulation;China, convergence, capital accumulation, total factor productivity |
| Date: | 2013–10–02 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:13/204&r=tra |
| By: | O'Higgins, Niall (University of Salerno) |
| Abstract: | The Roma are both the largest 'minority' ethnic group in Central and South Eastern Europe and the one which suffered most from transition to the market. Still today, nearly forty years after the introduction of the EU's 1975 Discrimination Directive and with the end of the 'Roma Decade' (2005-15) in sight, people from the Roma minority have unemployment rates far above – and employment rates and wages far below – those of majority populations. One issue which has received relatively attention concerns the 'double' discrimination facing Roma women. Not only do Roma women face poorer employment and wage outcomes in the labour market than non-Roma women, in most CSEE countries the gender wage gap is significantly larger amongst Roma compared to non-Roma. This paper seeks to analyze and explain differences in the gender gap in the wages amongst Roma. The paper employs a non-parametric matching approach to identify the main factors underlying the gender wage gap. Educational attainment plays a relatively small role, explaining only around one-fifth of the gap. Industrial and occupational segregation appear to be playing a strong role as does the civil status of individuals, household socioeconomic status and whether individuals living in a predominantly Roma community. |
| Keywords: | gender, discrimination, Roma, labour market |
| JEL: | J16 J15 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7667&r=tra |
| By: | Rabindra Nepal (School of Economics, University of Queensland); Tooraj Jamasb (Business School, Durham University) |
| Abstract: | Economic theory suggests that market-based policies and reforms should promote energy efficiency in developing and transition countries. his paper, therefore, analyses the impacts of a varied set of market-oriented macro-level reforms on macro level energy efficiency across the transition countries. Since the early 1990s, these economies experienced a rapid marketization process which transformed them from central planning towards more market driven economies. The results from the relatively new bias corrected fixed-effect analysis (LSDVC) technique suggest that between 1990 and 2010, reforms in overall market liberalisation, financial sector and infrastructure industries, excluding the power sector, drove the energy efficiency improvements in these countries. Also, privatisation programmes only improved energy efficiency in the SEE countries. Thus, the empirical evidence support market driven energy efficiency policies aimed at addressing the market failures in the network industries and capital markets. We conclude that these results can help explain the energy efficiency policy puzzles in developing and transition countries where energy efficiency improvement can be a leading policy response to growing climate change and security of supply concerns. |
| Keywords: | Market Reforms, Energy Efficiency, Transition Countries, Institutions |
| JEL: | P28 Q54 C33 |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:qld:uqeemg:8-2013&r=tra |
| By: | Duszczyk, Maciej (Warsaw University); Góra, Marek (Warsaw School of Economics); Kaczmarczyk, Pawel (Warsaw University) |
| Abstract: | Poland is a country being exposed to emigration and immigration flows relatively recently. That, among others, results in not fully developed yet institutional infrastructure for managing especially the immigrants flow. In this paper we structure all existing data and other pieces of information on immigrants coming to Poland from the EU Eastern Partnership Countries (EAPs). The vast majority of all types of immigrants from these countries actually originate in Ukraine. On the other hand also a vast majority of them come to Mazowieckie (Warsaw) Voivodeship. The study also confirms Poland is often not a destination country for immigrants. Many of them flow further to the old member states due to the same driver, namely income disparities existing both between EAPs and Poland as well as between Poland and the EU old member states. Nevertheless, the study shows moderate positive impact of immigration fitting demand mostly in agriculture, construction and household services. We analyse an impact of immigration on the domestic labour market in Poland. The immigrants fill gaps existing due to relatively strong and sustained growth contributing to Poland's welfare growth and also due to large scale emigration from Poland to EU old member states. Regulations applying to the immigrants coming to Poland adopted in 2007-2008 are still in force today. They create institutional infrastructure contributing to increasing scale of employment immigration to Poland. There is no sign the regulations will be substantially changed in the future. We rather expect a step by step development of the currently applied immigration policy. |
| Keywords: | immigration, impacts of immigration, Eastern Partnership Countries, institutions |
| JEL: | F22 J15 J61 J63 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7664&r=tra |
| By: | Gogodze, Joseph |
| Abstract: | This paper presents a brief analysis of the current innovative capabilities of Georgia based on the Europe-Central Asia Innovative Capability Indicator (ECAICI). This composite indicator is constructed using factor analysis tools. Research reveals that innovative processes in the Europe-Central Asia (ECA) region (by the World Bank classification) are mainly affected by four unobservable factors: knowledge creation, economic sophistication, knowlege absorption-diffusion, and human capital production. We show that the ECAICI is closely related to other well-known innovation indicators and to GDP per capita. The ECAICI was used to analyze the innovative capability dynamics during 1996–2010. This study serves as an illustration for the use of the ECAICI as an instrument for innovative capability assessment and analysis in Georgia and other post-USSR countries |
| Keywords: | National innovation systems, Developing countries, Countries in transition, Composite indicator, Factor analysis |
| JEL: | C43 O30 C81 |
| Date: | 2013–01–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50892&r=tra |
| By: | Antonio Carvalho; Matthew Cable; Rabindra Nepal (School of Economics, The University of Queensland); Tooraj Jamasb |
| Abstract: | Market based reforms are expected to result in both higher economic growth and development. This paper studies the impact of reform of economic institutions and infrastructure sectors on the economic, educational and health dimension of human well- being among 25 transition economies. We use a panel data for the 1992-2007 periods and the LSDVC technique to analyse the effects of market-driven reforms on the Human Development Index (HDI) and reform packages using EBRD transition indicators. The results show that institutional economic reforms led to positive economic effect and significant impacts on other dimensions of human development. On the other hand, we find limited positive impact from infrastructure sectors reforms. However, not every aspect of reforms appear to generate positive impacts as the transition process is rather complex. For example, large scale privatizations seem to have had negative effects in health and economic outcomes. The results point towards the importance of the interaction among and the combined effect of different reform measures. |
| Date: | 2013–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:qld:uq2004:493&r=tra |
| By: | Kaczmarczyk, Pawel (Warsaw University) |
| Abstract: | Analysis of remittances lies in the very centre of the scientific debate on developmental impacts of migration. On the macro level money sent back home may serve as an important source of capital (as compared to the value of export, Development Assistance or Foreign Direct Investment) but also cause inflationary pressure or disincentives for domestic savings. On the micro level remittances may constitute the major source of income and become a means towards consumption smoothing (migration as survival strategy). Notwithstanding, the very nature of remittances and underlying factors are still under theoretical and empirical discussion. The aim of the article is to assess patterns of remittances sent by Ukrainian migrants staying in Poland, to identify the main motives to remit and thus to understand mechanisms governing this process. The article hypothesizes that remitting depends strongly on the structure of migration (including socio-demographic factors responsible for particular motives to remit) and the type of mobility. Particularly, temporary migrants are expected to remit more likely. Econometric analysis based on an unique survey on migration and remittances completed in 2012 shows that in case of temporary migrants whose life centers are still located in sending communities remittances easily become an important part of contractual intra-family arrangements (with altruistic and exchange motives playing also a role). This outcome is important from the policy perspective because it helps to utilize developmental impacts of longstanding temporary migration strategies. |
| Keywords: | remittances, reasons to remit, Ukrainian migrants in Poland |
| JEL: | F22 F24 J61 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7666&r=tra |
| By: | Toan Thang TRAN (Central Institute for Economic Management, Vietnam); Thi Song Hanh PHAM (Sheffield Business School, Sheffield Hallam University) |
| Abstract: | In an effort to unlock the black box of mixed empirical evidence for productivity spillovers from foreign direct investment in host countries, this paper, using the case of Vietnam, examined the role of geographical proximity and inter firm interaction in determining productivity spillovers of FDI. The spatial productivity model specified based on the empirical spillovers literature and spatial econometric model. This paper confirms negative effect of horizontal spillovers. The distance and interaction are confirmed to be two determinants of the significance of spillover effects. The paper finds the positive backward and negative forward spillovers. Indirect effect (or the inter-regional spillovers) is found about twice to four times higher than the direct effect (or the intra-regional spillovers) but such kind of indirect effect is quickly attenuated for a certain distance. The paper also finds the evidence of the effect arising from the social interaction among local firms in productivity spillovers. The testing results suggest that local firm's productivity is substantially driven by the agglomeration effect and the presence of interand intra-regional FDI. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:dpc:wpaper:1213&r=tra |
| By: | Mario Mariniello |
| Abstract: | Chinaâ??s Anti-Monopoly Law, adopted in 2007, is largely compatible with antitrust law in the European Union, the United States and other jurisdictions. Enforcement activity by the Chinese authorities is also approaching the level seen in the EU. The Chinese law, however, leaves significant room for the use of competition policy to further industrial policy objectives. The data presented in this Policy Contribution indicates that Chinese merger control might have asymmetrically targeted foreign companies, while favouring domestic companies. However, there are no indications that antitrust control has been used to favour domestic players. A strategy to achieve convergence in global antitrust enforcement should include support for Chinese competition authorities to develop the institutional tools they already have, and to improve merger control by promoting the adoption of a consumer-oriented test and enforcing M&A notification rules. |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:bre:polcon:799&r=tra |
| By: | IDRISOV, GEORGY; TAGANOV, BORIS |
| Abstract: | The article covers main stages of integration processes in the CIS area since its formation. We analyzed the specifics of preferential trade agreements (PTAs) in the CIS. We prepared an exhaustive list of expired and currently effective PTAs in the CIS area, taking into account the initial levels of exemptions and the dynamics of their cancellations. We analyzed qualitatively and quantitatively the economic aspects of PTAs. We discussed further integration agenda of the Russian Federation and a role of PTAs as a tool of international economic integration. |
| Keywords: | Trade, trade integration, preferential trade agreement, free trade agreement, customs union, regionalism, CIS |
| JEL: | F13 F15 F51 |
| Date: | 2013–10–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50952&r=tra |
| By: | Yiran Sheng; Ruokun Huang |
| Abstract: | This article is the term paper of the course Investments. We mainly focus on modeling long-term investment decisions of a typical utility-maximizing individual, with features of Chinese stock market in perspective. We adopt an OR based methodology with market information as input parameters to carry out the solution. Two main features of this article are: first, we take the no short-sell constraint in Chinese stock market into consideration and use an approach otherwise identical to Markowitz to work out the optimal portfolio choice; this method has critical and practical implication to Chinese investors. Second, we incorporate the benefits of multiple assets into one single well-defined utility function and use a MIQP procedure to derive the optimal allocation of funds upon each of them along the time-line. |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1310.6822&r=tra |
| By: | A. Kim (N. E. Zhukovsky National Aerospace University "Kharkiv Aviation Institute") |
| Abstract: | The trends and relationship between indicators of Ukraine's GDP and foreign trade are studied. The time-series econometric model of the three indicators is composed with the trend method, using a linear function, based on which the forecast of GDP and foreign trade by 2015 is made. The features of export-oriented strategy, implemented in Ukraine, with proposals to reorient and modify foreign policy towards import substitution through the use of institutional incentives are defined. The prospect of further research of a foreign trade strategy is the development and examination of alternative strategies. |
| Keywords: | foreign trade, foreign trade strategy, export-oriented strategy, import-substitution strategy, property rights, transaction costs, institutional approach |
| Date: | 2013–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:nos:zodgwl:e133kim&r=tra |
| By: | I. Gruzina (Kharkiv National University of Economics) |
| Abstract: | The article describes the main problems associated with the acceleration of informatization process in Ukraine, that changes the requirements for employees, the attitude to business, the systems of enterprise management, the motives and methods of decision-making. The effect of this process on the economic life of Ukrainian society, its ability to lead to qualitative structural changes in the economy were researched. The obstacles, which hinder the informatization development in Ukraine were identified and directions to overcome them were suggested. The theoretical basis of the "informatization" concept was elaborated. The practical approaches to its implementation in the economic system of a country, a region, an enterprise were considered. |
| Keywords: | : informatization, information society, information infrastructure, information technology |
| Date: | 2013–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:nos:zodgwl:e133gru&r=tra |
| By: | Klaus Deininger (World Bank); Denys Nizalov (Kyiv School of Economics/ Kyiv Economics Institute); Sudhir K Singh (World Bank) |
| Abstract: | With farms cultivating tens or hundreds of thousands of hectares, Ukraine is often used to demonstrate the existence of economies of scale in modern grain production. Panel data analysis for all the country’s farms with more than 200 hectares in 2001-2011 suggests that higher yields and profits are due to unobserved factors at rayon (district) and farm level rather than economies of scale. Productivity growth was driven not by farm expansion but by exit of unproductive and entry of more efficient farms. Higher initial shares of area under farms with more than 3,000 or 5,000 hectares at the rayon level significantly reduce subsequent exit, suggesting that land concentration reduces productivity growth. The paper draws implications for global evolution of farm structures. |
| Keywords: | Land reform, transition, agricultural productivity, Ukraine, market structure |
| JEL: | O13 Q15 Q18 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:kse:dpaper:49&r=tra |