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on Transition Economics |
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Issue of 2014‒06‒14
twenty-six papers chosen by J. David Brown IZA (Institute for the Study of Labor) |
| By: | Jan Hagemejer (National Bank of Poland; Faculty of Economic Sciences, University of Warsaw); Joanna Tyrowicz (Faculty of Economic Sciences, University of Warsaw; National Bank of Poland); Jan Svejnar (Columbia University) |
| Abstract: | Despite an apparent consensus in the literature that privatization leads to increased productivity and profitability of firms, the problem of endogeneity bias is profound and has been emphasized in a number of meta-analyses. We propose a new method to address the endogeneity bias and apply it to a universe of Polish medium and large firms over 1995-2009. Unlike some previous studies we find that improvement in firm performance is a rare phenomenon, which suggests that the endogeneity bias could have been indeed large. |
| Keywords: | privatization, firm performance, endogeneity bias |
| JEL: | P45 P52 C14 O16 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:war:wpaper:2014-14&r=tra |
| By: | Gustafsson, Björn Anders (University of Gothenburg); Li, Shi (Beijing Normal University); Nivorozhkina, Ludmila (Rostov State Economic University); Wan, Haiyuan (National Development and Reform Commission) |
| Abstract: | Earnings inequality and earnings determination in urban China 2002 and Russia 2003 are compared using samples covering large parts of the two countries. The results from estimated earnings functions are put in perspective of the outcome from a similar comparison made at the end of the 1980s. We confirm that earnings inequality has increased rapidly in both countries and is found to be similar across countries. As at the end of the 1980s, the gender wage gap is larger in Russia where earnings reach a maximum at a lower age than in China. The association between education and income in China has increased to become stronger than in Russia. The earnings penalty of being employed in the public service sector in Russia has increased while the publically employed in China enjoy a positive payoff of limited magnitude. |
| Keywords: | wages, wage inequality, gender wage gap, China, Russia |
| JEL: | J16 J31 J45 P23 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp8241&r=tra |
| By: | Piet Buitelaar |
| Abstract: | The Chinese banking sector has been in a state of flux in recent years. This stems from China's economic reform process and the continued strong economic growth the country has witnessed over the past few decades. At the turn of the country, the Chinese banking sector was technically bankrupt. Vast capital transfers from the government to the banks were necessary to carry out extensive recapitalisation and restructuring. According to official figures, this exercise restored the banks, the majority of which are state-owned, to a strong capital position. |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbocs:1204&r=tra |
| By: | Hao, Li (University of Arkansas, Fayetteville); Houser, Daniel (George Mason University); Mao, Lei (GATE, University of Lyon); Villeval, Marie Claire (CNRS, GATE) |
| Abstract: | Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk, ambiguity, and competitiveness. Our subjects include migrants and non-migrants. We find that, migrants exhibit no differences from non-migrants in risk and ambiguity preferences elicited using pairs of lotteries; however, migrants are significantly more likely to enter competition in the presence of strategic uncertainty when they expect competitive entries from others. Our results suggest that migration may be driven more by a stronger belief in one's ability to succeed in an uncertain and competitive environment than by risk attitudes under state uncertainty. |
| Keywords: | migration, risk preferences, strategic uncertainty, ambiguity, field experiment |
| JEL: | C93 D03 D63 J61 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp8227&r=tra |
| By: | Liqing Zhang; Kunyu Tao |
| Abstract: | Despite the increasing recognition that the renminbi (RMB) may eventually become a key global currency, several important questions remain to be answered. This paper analyzes the benefits and costs of the RMB becoming an international currency. The benefits include reduced exchange risk, promotion of the development of the financial market, and expansion of firms in the People’s Republic of China. The costs include general costs, which complicate monetary policy and exchange rate policy, and several transitional risks. We argue that the benefits of RMB internationalization should surpass its costs, particularly in the long run, and provide comprehensive policy choices for a sustainable process of RMB internationalization |
| Keywords: | RMB, renminbi internationalization, International currency, financial market, PRC, transitional risks |
| JEL: | F42 F31 F36 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:eab:financ:24164&r=tra |
| By: | Prince Christian Cruz (Asian Development Bank Institute (ADBI)); Yuning Gao; Lei Lei Song |
| Abstract: | Domestic financial market development is a key determinant of a currency’s international status, and financial depth and market liquidity are two essential attributes for an international currency. This paper discusses the status of the People’s Republic of China’s (PRC) financial markets and their depth and liquidity conditions. The paper also compares the PRC’s financial markets with those in developed and emerging economies, contemporaneously and historically. The paper finds that the PRC’s financial markets are not as deep and liquid as those in developed economies, and are much less so than those with international currencies. To support the internationalization of the renminbi, the PRC needs to remove several major obstacles to deepen its financial markets and improve their liquidity conditions. |
| Keywords: | financial market, financial development, financial depth, market liquidity, Currency Internationalization |
| JEL: | E4 E5 |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:eab:financ:24160&r=tra |
| By: | Yiping Huang (Asian Development Bank Institute (ADBI)); Daili Wang; Gang Fan |
| Abstract: | In this paper we try to address the question of what could help make the renminbi a reserve currency. In recent years, the authorities in the People’s Republic of China (PRC) have made efforts to internationalize its currency through a two-track strategy : promotion of the use of the renminbi in the settlement of cross-border trade and investment, and liberalization of the capital account. We find that if we use only the quantitative measures of the economy, the predicted share of the renminbi in global reserves could reach 12%. However, if institutional and market variables are included, the predicted share comes down to around 2%, which is a more realistic prediction. By reviewing experiences of other reserve currencies, we propose a three-factor approach for the PRC authorities to promote the international role of the renminbi : (i) increasing the opportunities of using renminbi in the international community, which requires relatively rapid growth of the PRC economy and continuous liberalization of trade and investment; (ii) improving the ease of using renminbi, which requires depth, sophistication, and liquidity of financial markets; and (iii) strengthening confidence of using renminbi, which requires more transparent monetary policy making, a more independent legal system, and some political reforms. In general, we believe that the renminbi’s international role should increase in the coming years, but it will take a relatively long period before it plays the role of a global reserve currency. |
| Keywords: | liberalization of the capital account, renminbi internationalization, global reserve currency, three-factor approach, transparent monetary policy |
| JEL: | F30 F33 F36 F42 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:eab:financ:24165&r=tra |
| By: | Naoyuki Yoshino (Asian Development Bank Institute (ADBI)); Sahoko Kaji; Tamon Asonuma |
| Abstract: | This paper analyzes the optimal transition of the exchange rate regime in the People’s Republic of China (PRC). How the PRC can successfully reach the desired regime—whether a basket peg or floating regime—from the current dollar-peg regime remains a major question. To answer it, we develop a dynamic small open-economy general equilibrium model. We construct four transition policies toward the basket-peg or floating regime and compare the welfare gains of these policies to those of maintaining the dollar-peg regime. Quantitative analysis using PRC data from Q1 1999 to Q4 2010 leads to two conclusions. First, a gradual adjustment toward a basket-peg regime seems the most appropriate option for the PRC, and would minimize the welfare losses associated with a shift in the exchange rate regime. Second, a sudden shift to a basket peg is the second-best solution. This is preferable to a sudden shift to a floating regime, since it would enable the authorities to implement optimal weights efficiently in order to achieve policy goals once a decision has been made to adopt a basket-peg regime. |
| Keywords: | exchange rate regime, PRC, China, dollar-peg regime, basket-peg regime, floating regime, general equilibrium model |
| JEL: | E42 F33 F41 F42 |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:eab:macroe:24159&r=tra |
| By: | Michel Aglietta; Guo Bai |
| Abstract: | In November 2013, the central committee of the Communist Party of China (CPC), at its third plenum, issued a Directives Paper (with 16 items and 60 prescriptions), setting out a long-term strategic compendium of China’s reform agenda, based on the principle of separation between market and state under the unifying predominance of the Law. Its prescriptions refer to three basic objectives: inclusiveness, protection of rights, and improving economic efficiency. The Directives Paper formulates an ambitious plan of reforms over the next 20 years, aimed at overhauling the factor price system. There are two pillars to the Reform. First, labor market developments should provide workers with enhanced bargaining power. Government is expanding the basic social safety net, promoting low catch-up, enforcing labor contracts and introducing collective bargaining. Second, capital market reform has been speeded-up by the urgency of dealing with non-performing loans held in state-owned enterprises and credit platforms guaranteed by local governments. The Government intends to foster bond markets, encourage private banks to finance SMEs, build a strong prudential framework, deregulate interest rates, and move to Renminbi convertibility in the new Shanghai free trade area. We believe that the political feasibility of the Reform depends on the sequencing of its implementation. Benefits in the early stage would legitimate more contentious future policy decisions. But the deep social changes involved in the Reform also imply risks. Reforming rural land and natural resource prices will be difficult. Farmers’ land-use rights will be secured by law and made transferable in rural land markets. Fuel, water, electricity and carbon prices will rise progressively to their social marginal costs within an integrated urban rural model to accommodate 350 million migrants over the next 20 years. New smart cities and greater social inclusiveness will be spurred by relaxing the hukou system and the one child policy. Tough political decisions will be required related to fi scal sharing amongst local H77governments, and rebalancing the tax system towards more progressive direct taxes. |
| Keywords: | Rule of law;land reform;interest rate liberalization;strategic planning |
| JEL: | H77 P41 P47 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepipb:2014-03&r=tra |
| By: | Zhichao Guo (Beijing Technology and Business University); Yuanhua Feng (University of Paderborn); Thomas Gries (University of Paderborn) |
| Abstract: | The purpose of this paper is to investigate changes of China's agri-food exports to Germany caused by China's accession to WTO and the global financial crisis in a quantitative way. The paper aims to detect structural breaks and compare differences before and after the change points. The structural breaks detection procedures in this paper can be applied to find out two different types of change points, i.e. in the middle and at the end of one time series. Then time series and regression models are used to compare differences of trade relationship before and after the detected change points. The methods can be employed in any economic series and work well in practice. The results indicate that structural breaks in 2002 and 2009 are caused by China's accession to WTO and the financial crisis. Time series and regression models show that the development of China's exports to Germany in agri-food products has different features in different sub-periods. Before 1999, there is no significant relationship between China's exports to Germany and Germany's imports from the world. Between 2002 and 2008 the former depends on the latter very strongly, and China's exports to Germany developed quickly and stably. It decreased however suddenly in 2009, caused by the great reduction of Germany's imports from the world in that year. But China's market share in Germany still had a small gain. Analysis of two categories in agri-food trade also leads to similar conclusions. |
| Keywords: | Agri-food trade, structural breaks, China's accession to WTO, financial crisis, change of trade relationship financial crisis of 2008, growth causes, structural breaks |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:pdn:ciepap:72&r=tra |
| By: | Glauben, Thomas; Belyaeva, Maria; Bobojonov, Ihtiyor; Djuric, Ivan; Götz, Linde; Hockmann, Heinrich; Müller, Daniel; Perekhozhuk, Oleksandr; Petrick, Martin; Prehn, Sören; Prishchepov, Alexander; Renner, Swetlana; Schierhorn, Florian |
| Abstract: | Because of its enormous land and yield potentials, the breadbasket of the East, i.e. Russia, Ukraine and Kazakhstan are increasingly important for world grain markets. However, counterproductive market and trade policies, continual farm-level productivity gaps and deficits in marketing infrastructure consistently obstruct the breadbasket's production and market potentials. A prerequisite for their realization would be prioritizing market-conforming and export-oriented policies, as well as massive investments into spatial and farming infrastructures. -- |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iamopb:16e&r=tra |
| By: | Yuanhua Feng (University of Paderborn); Lixin Sun (Shandong University) |
| Abstract: | The aim of this paper is to analyze the long-term and short-term risk components in Chinese financial market and to compare them with those in mature financial markets. For this purpose a most recently proposed Semi-APARCH is applied to the Shanghai Index and the Shenzhen Index, and four financial indexes in mature markets. A few important empirical findings are achieved. Firstly, the current long-term risk in Chinese financial market is stable and at a low level. Secondly, the dependence level between long-term risk in Chinese financial market and that in mature financial market is not high. Thirdly, the short-term risk in Chinese financial market differs to that in a mature financial market at least in two ways: 1) The leverage effect in Chinese financial market is much lower than that in a mature financial market. 2) The innovations in Chinese financial returns is nearly heavy-tailed distributed. This is however not the case in a mature market. |
| Keywords: | Chinese financial market, mature financial markets, long-term risk, short-term risk, semiparametric APARCH |
| JEL: | C14 G10 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:pdn:ciepap:69&r=tra |
| By: | Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Monika Schwarzhappel (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | Content The first part of the publication contains an analysis of the latest FDI trends. The analysis highlights the modest recovery of FDI in 2013. The second part of the publication contains two sets of tables Tables I total flow and stock data, FDI flow by components and FDI income, FDI per capita and other FDI reference parameter (2005-2013) Tables II detailed FDI data by economic activity and by country (last four years) The main sources of data are the central banks of the individual Central, East and Southeast European countries. General Description General Description (PDF) Abstract The first part of this report provides an analysis of the 2013 FDI trends in 23 CESEE countries, pointing to uneven developments. Inflows were decimated in the NMS first of all in Poland, they stagnated in the SEE countries and boomed in Russia. Declines were partly of a statistical nature, partly the result of the withdrawal of investment reserves. The high inflows to Russia were over-compensated by even higher outflows to other countries. There has been no correlation between economic growth and FDI inflow in the CESEE region over several years. But the diminishing amount of FDI in relation to GDP and gross fixed capital formation suggests that it is not FDI that drives economic growth. A diminishing number of greenfield investment projects underpins this conclusion for 2013. Forecasts for economic growth in 2014 and first-quarter trends in FDI flows and greenfield projects suggest a recovery in the CESEE countries which are not directly affected by Ukraine crisis. There are signs of a return of manufacturing FDI to the NMS while inflows to Russia are plummeting. The second part of this report contains two sets of tables Tables I cover FDI flow and stock data, FDI flows by components and related income; Tables II provide detailed FDI data by economic activity and by country. The main sources of data are the central banks of the individual Central, East and Southeast European countries. Examples Table of contents (PDF) The wiiw FDI Database is available online This online access with a modern query tool supports easy search and download of data. The wiiw FDI Database contains the full set of FDI data with time series starting form 1990 as far as available. Access to wiiw FDI Database � |
| Keywords: | foreign direct investment, balance of payments, income repatriation, statistics, new EU Member States, Southeast Europe, CIS |
| JEL: | C82 F21 O57 P23 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:wii:fdirep:fdi:2014-06&r=tra |
| By: | Botezat, Alina (Romanian Academy); Pfeiffer, Friedhelm (ZEW Mannheim) |
| Abstract: | Many children grow up with parents working abroad. Economists are interested in the achievement and well-being of these "home alone" children to better understand the positive and negative aspects of migration in the sending countries. This paper examines the causal effects of parents' migration on their children left home in Romania, a country where increasingly more children are left behind in recent years. Using samples from a unique representative survey carried out in 2007 instrumental variable and bivariate probit estimates have been performed. Our initial evidence demonstrates that in Romania home alone children receive higher school grades, partly because they increase their time allocation for studying. However, they are more likely to be depressed and more often suffer from health problems especially in rural areas. |
| Keywords: | parent migration, home alone children, well-being, Romania |
| JEL: | I12 I21 J13 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp8225&r=tra |
| By: | Petrick, Martin; Gramzow, Andreas; Oshakbaev, Dauren; Wandel, Jürgen |
| Abstract: | -- Kazakhstan is now widely regarded as a key player on world agricultural markets, with considerable export potential in the wheat, beef and dairy sectors. Based on unique farm-level data, we offer new insights into the constraints that hamper further economic growth and provide an assessment of the Kazakhstani government's agricultural development strategy. Most managers in the farm survey doubt that agricultural investments deliver a sufficiently reliable return required for credit funding and thus do not take loans. In the cattle sector, there are significant problems in year-round fodder supply. The value chains for beef and dairy are bifurcated into an import-dependent chain for industrially processed products serving urban consumers, and a local chain of raw products serving rural consumers and urban bazaars. The government's modernisation strategy focuses on providing subsidised capital, but underestimates the knowledge and incentive problems inherent to such measures. The government should rather provide impartial and reliable public services to the sector, ensuring that the weakest links in food chain development are identified and private entrepreneurs are incentivised to strengthen them. Our evidence suggests that a bundle of measures designed to improve the local institutional environment of agriculture is more important than massive state funding of certain production lines. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iamopb:15r&r=tra |
| By: | Dilyara Ibragimova (National Research University Higher School of Economics) |
| Abstract: | The research deals with the analysis of consumer expectations of Russian population, which are mediated by many socio-demographic characteristics: income, age, education, place of residence, sex, etc. The paper points up the influence on variable “age” because it is rather complex itself. First, actual age represents biological characteristics. Second, “age” represents a unique birth cohort in terms of socialization and formation of life experience. Finally, all ages feature influence by a time period effect that reflects the socio-political, economic, and informational phenomena of the macro environment. Solving the problem of “identification” (i. e. the separation of these three effects), which inevitably arises in case of cohort analysis, is based on theoretical views concerning the character of consumer expectations and the results of empirical testing. Its point is that the aggregated Consumer Sentiment Index (CSI) reflects the general socio-economic situation in a country at a certain time and allows us to use the CSI as a distillation of a specific time moment. The information base of research is the data of consumer survey although not the panel, but conducted over a 15-year period on the same methodology and sample. All 79 waves of cross-section data (from May 1996 to September 2009) were converted into a “quasi-longitudinal design”, the total sample of dataset was 182,507 respondents. The regression analysis demonstrates that belonging to a cohort actually determines significantly consumer sentiments. However, the nonlinear correlation describing such dependence showed that an increase of optimism/pessimism in respect for the economic and social development of the country happens non-uniformly from one cohort to another. In addition, the article attempts to implement approach to differentiation of generations, is not based on age differences, and the relationship with historical events. The research shows that an indicator such as the CSI could be one instrument for defining the time boundaries of the generations. |
| Keywords: | consumer expectations; cohort analysis; generation analysis; consumer sentiment index; consumption; saving. |
| JEL: | A14 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:41/soc/2014&r=tra |
| By: | Nikolay Nenovsky (LEO Laboratoire d'économie d'Orleans - bat. A Rue de Blois - BP 6739 45067 ORLEANS CEDEX 2 FR, Centre National de la Recherche Scientifique; LE STUDIUM LE STUDIUM - 3D avenue de la Recherche scientifique 45071 Orléans Cedex 2 FR, Centre National de la Recherche Scientifique); Kiril Tochkov (TCU Texas Christian University - Department of Economics Texas Christian University TCU Box 298510 Fort Worth, TX 76129, USA FR, University of Texas Christian); Camélia Turcu (LEO Laboratoire d'économie d'Orleans - bat. A Rue de Blois - BP 6739 45067 ORLEANS CEDEX 2 FR, Centre National de la Recherche Scientifique) |
| Abstract: | This paper traces the origins of the different monetary regimes adopted in Bulgaria and Romania in 1996-97 and examines their performance during the EU accession. The findings indicate that the constraints of the currency board in Bulgaria shifted economic activity towards the private sector, while the discretionary policies in Romania turned public finances into both a contributor and a response mechanism to economic imbalances. While the prospects of EU accession initially enhanced the performance of the monetary anchors, the implicit insurance of EU membership increased moral hazard and led to a rapid rise in private and public debt. The paper also explores the historical parallels between the monetary regimes of Bulgaria and Romania in 1996-97 and 1925-1940. |
| Keywords: | Post-communist transition, Monetary regimes, EU accession, Moral hazard, Interwar monetary history |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:244082&r=tra |
| By: | Stanislawa Golinowska; Ewa Kocot; Agnieszka Sowa |
| Abstract: | The report discusses the formal long-term care workforce in Poland. It presents past and future trends in the development of LTC employment. Authors collected scattered statistical information, estimated lacking data and projected future growth in the number of employed in care services. Performed analysis includes employment in the health and social sector and across various types of care. Projections of the demand for care and supply of the LTC workforce were based on the demographic prognosis of the population size and changes in the age structure taking into account different scenarios for demographic development. Results show the growing gap between demand and supply in the LTC employment. The policy towards aging in Poland will must take up the challenge of growing care needs, family changes and lower opportunities for provision of informal care. |
| Keywords: | Long-term Care, Employment in Long-term Care, Employment Projections, Labour Resources in Long-term Care, Medical and Care Professions |
| JEL: | H51 H53 H75 I18 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:sec:cnstan:0473&r=tra |
| By: | Thomas Gries (University of Paderborn); Ha van Dung (University of Paderborn) |
| Abstract: | In this paper, we investigate the impacts of the institutional environment and the entrepreneur’s education on firm growth in Vietnam. Using a firm-level dataset, we obtain a balanced panel data from 2006 to 2009 for 37,788 registered enterprises from a unique data set. We analyze the effects of the institutional factors on the growth of firms using the system GMM analysis. We find that in accordance to recent theoretical literature, higher level of institutional factors such as business support service, land access, time costs, and informal charges will promote firm growth in both employment and capital. Furthermore the impacts of institutional factors are more significant in capital growth of firms. In addition to the insight, we look at the impacts of entrepreneur’s education on firm growth. We use the fixed effects estimation method and obtain the results supporting the hypothesis that higher level of entrepreneur’s education will associate with a higher growth of firms. |
| Keywords: | firm growth, institutional factors, human capital, entrepreneurship, capital structure. |
| JEL: | O12 O16 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:pdn:ciepap:83&r=tra |
| By: | Thomas Gries (University of Paderborn); Ha van Dung (University of Paderborn) |
| Abstract: | In this paper, we investigate the role of the social network nexus and the insurance nexus in determining household savings and productive capital formation in rural Vietnam. We analyze the issue in two dimensions, stocks and flows, and consider the exposure to negative shocks. The instrumental variable method is employed and unlike previous studies, we account for the endogeneity of all concerned variables. The results indicate that the social network nexus has more impacts in “ex ante” rather than in “ex post” households. In both households groups, the effects of the insurance nexus dominate over those of the social network nexus. In the case of the stocks, we also find that the precautionary view is held in liquid assets but not in productive assets. |
| Keywords: | rural households, liquid assets, productive assets, social networks, organizations, insurance, disasters |
| JEL: | O12 O16 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:pdn:ciepap:81&r=tra |
| By: | Karolina Goraus (Faculty of Economic Sciences, University of Warsaw); Joanna Tyrowicz (Faculty of Economic Sciences, University of Warsaw; National Bank of Poland) |
| Abstract: | The raw gender wage gap over the period 1995-2012 amounts to app. 9% of hourly wage and is fairly stable. However, the raw gap does not account for differences in endowments between genders. In fact, the adjusted wage gap amounts to as much as 20% on average over the analyzed period and shows some cyclical properties. The estimates of adjusted gender wage gap do not seem to exhibit any long-term trends, which suggest that in general neither demographic changes nor the progressing transition underlie the phenomenon of unequal pay for the same work among men and women. |
| Keywords: | Wage gap, discrimination, decomposition, Oaxaca-Blinder, Nõpo, non-parametric estimation |
| JEL: | J21 J70 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:war:wpaper:2014-11&r=tra |
| By: | Ha van Dung (University of Paderborn) |
| Abstract: | This study investigates the impacts of short-term precautionary selection and insurance on household decisions regarding the participation in different kinds of saving mechanisms in rural Vietnam. The two-part model is employed for the analysis and unlike other studies I investigate household decisions regarding both, participation and contribution to formal and informal saving intermediaries. Furthermore we control for the endogeneity of the short-term precautionary motive and of insurance in the model of household contribution. The finding suggests that the short-term precautionary motive reduces the household probability to engage into formal and informal saving intermediaries. In addition, insurance is found to be a substitute for short-term precautionary savings. Concerning the contribution aspect, the short-term precautionary motive is found to reduce the participant’s deposits in formal saving intermediaries while there is no evidence for insurance in influencing household contribution to saving intermediaries. |
| Keywords: | Short-term precautionary motive, insurance, saving intermediaries, cash hoarding, deposits |
| JEL: | O12 O16 O17 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:pdn:ciepap:82&r=tra |
| By: | Sun, Xiaojie; Liu, Xiaoyun; Sun, Qiang; Yip, Winnie; Wagstaff, Adam; Meng, Qingyue |
| Abstract: | In China, health care providers have traditionally been paid fee-for-service and overprescribing and high out-of-pocket spending are common. In this study, township health centers in two counties were assigned almost randomly to two groups: in one, fee-for-service was replaced by a global capitated budget; in the other, by a mix of global capitated budget and pay-for-performance. Performance captured inter alia"irrational"drug prescribing; 20 percent of the global capitated budget was withheld each quarter, points were deducted for failure to meet targets, and some of the withheld budget was returned in line with the points deducted. Outcomes included appropriate prescribing and prescription cost, data on which were obtained by digitizing prescriptions from a month just before the reform and from the same month a year later. Impacts were assessed via multivariate differences-in-differences with township health center fixed effects. To reduce bias from non-randomness in assignment, the sample was trimmed by coarsened exact matching. Pay-for-performance reduced inappropriate prescribing significantly and substantially in the county where the initial level was above the penalty threshold, but end-line rates were still appreciable; no effects were seen in the county where initial levels were around or below the threshold, or on out-of-pocket spending in either county. |
| Keywords: | Health Monitoring&Evaluation,Health Systems Development&Reform,Health Law,Disease Control&Prevention,Population Policies |
| Date: | 2014–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6892&r=tra |
| By: | Zoltan Bakucs (Institute of Economics. Centre for Economic and Regional Studies, Hungarian Academy of Sciences; Department of Agricultural Economics and Rural Development, Corvinus University of Budapest); Stefan Bojnec (Faculty of Management, University of Primorska); Imre Ferto (Institute of Economics. Centre for Economic and Regional Studies, Hungarian Academy of Sciences; Department of Agricultural Economics and Rural Development, Corvinus University of Budapest); Laure Latruffe (Structures et Marchés Agricoles, Ressources et Territoires, INRA) |
| Abstract: | The aim of this article is to investigate the relationship between size and farm growth. The existing theories of the association between size and farm growth give mixed results by countries and over time. This paper pursues a twofold objective: on one hand, to test the validity of Gibrat’s Law for French, Hungarian and Slovenian specialized dairy and crop farms during the pre- and post-accession period to the European Union membership. Dairy and crops farms are prevailing in the farming structure of these countries. Using Farm Accountancy Data Network datasets makes it necessary to avoid biases due to heterogeneous structures across the farming systems. Thus we use quantile regressions to control for farm size related heterogeneity in the samples. On the other hand, the main novelty of this paper is the comparative analysis of the relationship between farm size and farm growth between transition Hungarian and Slovenian and non-transition French farming sectors, characterized by rather different farm structures. The results reject the validity of Gibrat’s Law for crop farms in Hungary and to a lesser extent in France, and for French and Slovenian dairy farms. We provide evidence that smaller farms grew faster than larger ones over the studied period 2001-2007 for France, 2001-2008 for Hungary, and 2004-2008 for Slovenia. Conversely, the results for Slovenia suggest that the rate of growth of crop farms in terms of its land is independent from its size. |
| Keywords: | farm size, farm growth, Gibrat’s Law, quantile regression, taille de l'exploitation, régression quantilecroissance agricole |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:200147&r=tra |
| By: | Bruno Martorano; UNICEF Innocenti Research Centre |
| Abstract: | Before the recent economic crisis, Hungary and Iceland were considered to be two excellent models of development. Hungary and Iceland were among the countries affected earliest and most by the recent macroeconomic shock, suffering a similar drop in GDP.While the Hungarian government implemented a flat tax reform in order to stimulate economic activity, the Icelandic government replaced its flat tax system with a progressive one increasing the participation of high income groups in the adjustment process. The aim of this paper is to compare the opposite adjustment paths followed by Hungary and Iceland on selected outcomes. |
| Keywords: | crisis; financial analysis; financial systems; inequality; tax reforms; tax revenues; |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:ucf:inwopa:inwopa719&r=tra |
| By: | Abdulloev, Ilhom (Open Society Institute Assistance Foundation, Tajikistan); Gang, Ira N. (Rutgers University); Yun, Myeong-Su (Tulane University) |
| Abstract: | Women who want to work often face many more hurdles than men. This is true in Tajikistan where there is a large gender gap in labour force participation. We highlight the role of two factors – international migration and education – on the labour force participation decision and its gender gap. Using probit and decomposition analysis, our investigation shows that education and migration have a significant association with the gender gap in labour force participation in Tajikistan. International emigration from Tajikistan, in which approximately 93.5% of the participants are men, reduces labour force participation by men domestically; increased female education, especially at the university and vocational level, increases female participation. Both women acquiring greater access to education and men increasing their migration abroad contribute to reducing the gender gap. |
| Keywords: | migration, education, gender gap, labour force participation, Tajikistan |
| JEL: | J01 J16 O15 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp8226&r=tra |