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on Transition Economics |
| By: | Jong-Wha Lee |
| Abstract: | This study explores China's economic growth performance and prospects in global and Asian comparative perspectives. Using a general framework of cross-country analysis, the study identifies and discusses major factors underlying China's strong growth over the past decades and those contributing to its recent growth slowdown. The study also adopts detailed industry-level data to assess structural changes and sectoral growth in the Chinese economy. China's low initial per capita income relative to its own long-run potential provided the opportunity for faster capital accumulation and technology diffusion. Good policy and institution factors, such as a high investment rate, strong human capital, high trade openness, and improved institutions, guided the economy to realize its strong potential for convergence to advanced economy income level. China's average potential GDP growth will decline significantly over the coming decade due to convergence effect and structural problems, unless China substantially upgrades institutions and policy factors and improves productivity, particularly in its services sector. |
| Keywords: | Economic growth, convergence, productivity, structural change, China |
| JEL: | O11 O14 O19 O47 O53 O57 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:een:camaaa:2016-30&r=tra |
| By: | Ma, Guonan; Yao, Wang |
| Abstract: | A global renminbi needs to be backed by a large, deep and liquid renminbi bond market with a world-class Chinese government bond (CGB) market as its core. China’s CGB market is the seventh largest in the world while sitting alongside a huge but non-tradable and captive central bank liability in the form of required reserves. By transforming the non-tradable cen-tral bank liabilities into homogeneous and tradable CGBs through halving the high Chinese reserve requirements, the size of the CGB market can easily double. This would help over-come some market impediments and elevate the CGBs to a top three government bond mar-ket globally, boosting market liquidity while trimming distortions to the banking system. With a foreign ownership similar to that of the JGBs, CGBs held by foreign investors may increase ten-fold by 2020, approaching 5 percent of the 2014 global foreign reserves and facilitating a potential global renminbi, especially in the wake of the renminbi’s inclusion into the basket of the IMF Special Drawing Rights. |
| Keywords: | bond market, government bond market, renminbi internationalization |
| JEL: | F02 E42 E44 E58 G10 H63 |
| Date: | 2016–02–06 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2016_001&r=tra |
| By: | Rokicki, Slawa; Donato, Katherine Elizabeth |
| Abstract: | Background In 2003, the Chinese government established the New Cooperative Medical Scheme (NCMS) with the goal of improving health for the country’s 800 million mostly uninsured rural residents. Using new data on objective health measures, we analyzed the program’s effectiveness in improving health for enrollees. Methods Using longitudinal data from the China Health and Nutritional Survey from 2000 to 2009 (12 080 observations across four waves), we analyzed the impact of the NCMS on objective measures of health such as blood pressure, HbA1c, and cholesterol, as well as use of preventive care. In order to overcome inherent selection bias where less healthy people are more likely to enroll in the voluntary health insurance scheme, we used intent-to-treat and instrumental variable analysis strategies, and offered evidence that these approaches can mitigate this bias. Results For every additional year of NCMS coverage, the probability of seeking preventive health care increased by 0.6 percentage points (95% CI 0.1-1.0). However, we did not find evidence that the NCMS resulted in consistent improvements in objective measures of health. Sub-group analysis suggested that lower-income communities benefited more from the program, implying that the program may have resulted in some lessening of the wealth-based disparity in health. Conclusions The NCMS does not appear to significantly improve objective measures of health. This is consistent with evaluations of health insurance programs in other countries, but in contrast to some previously reported improvements in self-reported health resulting from the NCMS. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:hrv:faseco:27030489&r=tra |
| By: | Zhenxi Chen (Faculty of Economics, Business and Social Sciences, Christian-Albrechts University, Olshausenstrasse 40, 24118 Kiel, Germany); Jan F. Kiviet (Amsterdam School of Economics, University of Amsterdam, PO Box 15867, 1001 NJ Amsterdam, The Netherlands); Weihong Huang (Division of Economics, Nanyang Technological University, 14 Nanyang Drive, Singapore 637332.) |
| Abstract: | Extending published bivariate analyses on the revenues at the stock markets of New York and Shanghai by a tri-variate analysis, which also includes the Hong Kong stock market, we demonstrate that bivariate inferences on co-movement are highly fragile. In fact, rather common opinions like "China's stock market has become more and more integrated to the world market in the past twenty years" can easily be refuted. We do so also by demonstrating that the statistical findings from various earlier analyses are internally inconsistent. A rather straight-forward analysis based on standard and partial correlations over a running window, which does not pretend to unveil causality, indicates that although the Hong Kong market shows substantial though varying co-movement with both the New York and the Shanghai markets, an apparent systematically intensifying direct link between New York and Shanghai has not emerged yet. |
| Keywords: | China, Co-movement, Globalization, Specification analysis, Stock markets. |
| JEL: | C22 C32 C52 G14 |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:nan:wpaper:1505&r=tra |
| By: | Ruomei Xu (College of Economics and Management, Anhui Agricultural University, Hefei, China); Yanrui Wu (Business School, University of Western Australia); Jingdong Luan (College of Economics and Management, Anhui Agricultural University, Hefei, China) |
| Abstract: | Genetically modified (GM) crops, particularly GM grain crops, have been controversial since their commercialization in 1996. However, only a few studies have investigated farmers’ attitudes toward adopting GM grain crops in China. This study explores farmers’ willingness to adopt GM insect-resistant rice prior to its commercial release in China and determines the factors that affect farmers’ prospective adoption decisions. The analysis is based on data collected by using a questionnaire. The results of econometric analyses show that increasing output and income, and simplicity in crop management, have positive effects on prospective adoption, whereas the high seed price of GM rice has a significantly negative effect. Health implications also have a significantly positive effect on the farmers’ decision to adopt GM grain crops. A comparative analysis of ordered and binary probit models also demonstrates that farmers are more deliberate in their decisions when they have fewer choices. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:uwa:wpaper:16-01&r=tra |
| By: | Aleksandr Buzgalin (Department of Economics, Lomonosov Moscow State University); Andrey Kolganov (Department of Economics, Lomonosov Moscow State University); Olga Barashkova (Department of Economics, Lomonosov Moscow State University) |
| Abstract: | This paper argues the importance of using modern methodology of Marxist analysis for the study of imperialism and the so-called “empires”. This methodology allows to show the mechanisms of economic, political, ideological, and so on manipulating the “periphery” from the “center” capital and the states. On this methodological basis it is proved that capitals and state machines of semi-periphery countries in general and Russia in particular are mostly objects of imperialist subjugation and manipulation and only in some rare cases these countries and their capitals are able to be subjects of the imperialist policy. The analysis of the contradictions in the relations of the Russian Federation, Ukraine and the West is given. It is provided the system of political, economic and geo-political arguments proving that Russia as a rule does not act as a subject of the imperialist policy, and only in some cases (generally relying on the Soviet legacy) Russia is able to withstand the “rules of the game”, given by the imperialist powers. It is argued that these some cases when Russia withstands the “rules of the game” is the main reason for the imperialist powers’ diatribes against “Russian imperialism”. |
| Keywords: | Russia, imperialism, Marxism, Ukraine, political and economic power, geopolitics, capital, state. |
| JEL: | F01 F29 O52 O57 P52 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:upa:wpaper:0030&r=tra |
| By: | Ekaterina Selezneva (IOS Regensburg) |
| Abstract: | During the 20th century, Russian women were assigned the triple role of social and political activists, workers, caregivers and mothers. This paper makes an overview of the main steps undertaken first by the Soviet and later by the modern Russian governments to influence family formation models and fertility levels, in order to improve the demographic situation over the period from 1917 until 2015. The overview pays close attention to such measures of demographic policy as marriage and divorce regulation, support of families through family benefits and the tax system, reconciliation of family and work spheres (maternity/paternity leaves, workplace flexibility measures), fertility promotion, childbearing and childcare support, as well as rare reproductive health protection initiatives. |
| Keywords: | fertility, Russia, family policy |
| JEL: | J12 J13 J18 P30 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ost:wpaper:355&r=tra |
| By: | Leppänen, Simo; Solanko, Laura; Kosonen, Riitta |
| Abstract: | This paper explores the implications of climate change for government expenditures. Using a rich sub-national dataset for Russia covering 1995–2009, we estimate the impacts of changes in climatic conditions through short-term variation and medium-term changes in average regional temperatures and precipitation. We show a strong and robust negative (but non-linear) relation between regional budget expenditures and population-weighted temperature. The results indicate that an increase in temperature results in a decrease in public expenditures and that the magnitude of this effect diminishes the warmer the region. Further, our results suggest that the benefits from warming accumulate and that adaptation measures could help leverage those benefits. The estimated decreases in regional government expenditure are, however, quite small. It should be noted that our results are estimated for a scenario of mild temperature increase (1–2 °C). Larger temperature increases are likely to have dramatic consequences e.g. from loss of permafrost and methane release that are impossible to predict with available historical data. |
| Keywords: | climate change, public expenditures, adaptation, non-linearity, Russia |
| JEL: | Q54 Q58 H72 R59 C50 P20 |
| Date: | 2015–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2015_027&r=tra |
| By: | Lin, Benxi; Zhang, Yu Yvette; Lin, Zongjian; Wang, Yongli; Liu, Weiping |
| Abstract: | This paper studied the impact of fiscal subsidies on the participation rate and contributions of the rural residents in the China’s New Rural Pension Scheme (NRPS) program, where the fiscal subsidies include the incentive pension and the matching subsidy. The results showed that incentive Pension can significantly improve the rural residents' participation rates, but participation rate of young residents are less than the older residents. We also showed that matching subsidy does not affect the rural residents' participation significantly. Our results suggest that the current fiscal subsidies play an important role in the establishment and expansion of the NRPS program, but have not increased the participation rate of younger people, which was one of the initial goals of NRPS. |
| Keywords: | Pension System, Rural Economy, Fiscal Subsidy, China, Community/Rural/Urban Development, Institutional and Behavioral Economics, International Development, Public Economics, O1, O2, I3, I38, H3, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:236161&r=tra |
| By: | Wang, Sun Ling; Huang, Jikun; Wang, Xiaobing; Tuan, Francis |
| Abstract: | In this study, we use a multilateral total factor productivity (TFP) panel data, spanning 1985-2011 period, to test the hypotheses of convergence to a single TFP level (σ convergence) or to a region-specific steady state TFP growth rate (β convergence) for China’s farm sector. Results show that there is no evidence of an overall σ convergence across all provinces. However, we find robust evidences of β convergence. Estimated rates of β convergence are conditional on how we capture the heterogeneity across regions. Overall, the rate of β convergence ranges from 0.016 to 0.028. Estimates also show that higher growth rate of education, R&D, capital/labor ratio, or intermediate goods/labor ratio can boost the rate of TFP growth. |
| Keywords: | Total Factor Productivity (TFP), σ convergence, β convergence, multilateral comparison, China agricultural sector., Agricultural and Food Policy, International Development, Production Economics, Productivity Analysis, Research and Development/Tech Change/Emerging Technologies, O13, O47, Q16, |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:235709&r=tra |
| By: | Wang, Haiyan; Malaga, Jaime |
| Abstract: | China’s sorghum imports have shown an unexpected increase since 2013 mainly due to the Chinese government “temporary reserve program” implemented on corn. The objective of this study is an attempt to provide a reference for sorghum exporters to prepare for China’s future sorghum import trends when the Chinese government policy changes. This study developed a sorghum supply and demand structure model to estimate and forecast China’s future sorghum excess demand. The results of this study suggested that China imports will decrease when government eliminates the subsidy policy for corn, but will not decrease to the levels that occurred before the year 2013. |
| Keywords: | Excess Demand, Sorghum, Policy, China, Agricultural and Food Policy, International Relations/Trade, F17, Q18, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:235946&r=tra |
| By: | Shatalov, Stanislav (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Zakharenkova, E. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The report presents the analysis of the legal nature and practical implementation of cost sharing mechanism and conclusions on the possibility to introduce cost sharing rules in the Russian tax legislation. The results of the work are based on the thorough analysis of the theory and practice of cost sharing in Russia and worldwide. |
| Keywords: | cost sharing mechanism, cost sharing rules, tax legislation, Russia |
| Date: | 2016–04–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:545&r=tra |
| By: | Yashina, e. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Malakho, Sofya (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Authors made a market research of promising genetic technologies in Russia and considered the main segments of the market, trends, identified market development strategy. Its volume in Russia is about 10 billion in Rubles, and continues to increase by an average of 15% per year. Prospects for the use of genome-sequencing are very promising, but the domestic market does not look so rosy as the worldwide one. Despite the huge money spent in a high degree of equipment, almost 90% of the equipment park is standing idle. Attempts to go beyond the budget funding and go in a commercial direction can not yet be called successful. More efficient use of genome-sequencing is possible to create specialized centers. Due to the high concentration of human resources and technological capabilities at multiple sites fullest possible advantage of new technologies, reduction of the final price analysis and quality improvement. |
| Keywords: | full genome sequencing, Russia |
| Date: | 2016–03–10 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:1032&r=tra |
| By: | HA Doan Thi Thanh (Asian Development Bank Institute); KIYOTA Kozo (Keio Economic Observatory, Keio University); YAMANOUCHI KentaAuthor-Workplace-Name: Keio University |
| Abstract: | This paper attempts to measure the effect of resource misallocation on aggregate manufacturing total factor productivity (TFP), focusing on Vietnamese manufacturing firms for the period 2000–2009. One of the major findings of this paper is that there would have been substantial improvement in aggregate TFP in Viet Nam in the absence of distortions. The results imply that potential productivity gains from removing distortions are large in Vietnamese manufacturing. We also find that smaller firms tend to face advantageous distortions, while larger firms tend to face disadvantageous ones. Moreover, the efficient size distribution is more dispersed than the actual size distribution. These results together suggest that Vietnamese policies may constrain the largest and most efficient producers and coddle its small and least efficient ones. |
| Keywords: | misallocation. total factor productivity, Viet Nam |
| JEL: | O47 F14 D2 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2016-19&r=tra |
| By: | Malinina, Tatiana (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Gaidar Institute for Economic Policy); Gromov, Vladimir (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper concerns the current regulations and practice and presents proposals for improving it on the important issues of individual and corporate taxation of income from financial instruments in Russia. |
| Keywords: | regulations, Russia |
| Date: | 2016–04–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:544&r=tra |
| By: | Liu, Qing; Zhou, Jiehong; Yan, Zhen |
| Abstract: | The present study attempts to separate the environmental motivation and healthy motivation of consumers' choice for pro-environmental products through choice experiment and latent class model. Moreover, the different motives behind pro-environmental purchase and its impact on heterogeneity of consumer preferences needs to be further examined. Data are collected by means of face-to-face interview in Zhejiang, Shanghai, Jiangsu and Guangdong of China with a total sample size of 477 consumers. The results reveal that the consumers who are willing to buy pro-environmental products are motivated by health benefits as well as environmental considerations due to the higher consciousness of food safety and eco-environment in China. However, the healthy attributes tend to prevail in consumers' motivations. Consumers who have stronger environmental motivation will show higher preferences for pro-environmental products. It is also found that these consumers have the following characteristics: higher perception and knowledge of pro-environmental products，lower income , convenient purchase and female. Our results have implications for the improvement of government's consumption policies and the precision marketing of producers to induce consumers' participation to buy pro-environmental products, which in turn do a great benefit to environmental-friendly production and sustainable environment. |
| Keywords: | pro-environmental purchase motives, consumer preference, choice experiment, latent class model, Agricultural and Food Policy, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:236261&r=tra |
| By: | Fabrice Defever; Alejandro Riaño |
| Abstract: | We study the effect of subsidies subject to export share requirements (ESR) - that is, conditioned on a firm exporting at least a given fraction of its output - on exports, the intensity of competition and welfare, through the lens of a two-country model of trade with heterogeneous firms. Our calibrated model suggests that this type of subsidy boosts exports more and provides greater protection for domestic firms than a standard unconditional export subsidy, albeit at a substantial welfare cost. |
| Keywords: | export share requirements, export subsidies, trade policy, heterogeneous firms, China |
| JEL: | F12 F13 O47 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1431&r=tra |
| By: | Chen, Xuan; Chen, Jing; Huang, Chien-Yu |
| Keywords: | This paper investigates the off-farm employment decisions of farm households in China. A rigorous theoretical framework which incorporates agricultural risks is constructed and comparative statistics are derived and assessed. Associated empirical models are developed to quantify households’ decisions on supplying off-farm labor using a sample of household finance survey in 2010. Our empirical results show that farm income variability significantly impacts off-farm labor supply by farm households and individual farmers, which implies off-farm employment is a risk adaption behavior among Chinese farmers., Farm Management, Labor and Human Capital, Risk and Uncertainty, off-farm employment, rural household, production risk, agricultural economics, |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:236262&r=tra |
| By: | Ponomarenko, Alexey |
| Abstract: | This paper discusses the money creation mechanisms in emerging markets with special focus on external transactions. We argue that one should not rule out the possibility that fluctuations in the loans-to-deposits and non-core liabilities ratios are driven by the banks. We also argue that, under a flexible exchange rate regime in which the central bank is not trying to accumulate foreign reserves, external transactions are unlikely to contribute significantly to money growth. To make our argument, we analyze a historical episode of these flows in Korea and Russia and conduct a canonical correlation analysis for a cross-section of emerging market economies. |
| Keywords: | Money supply, non-core liabilities, loans-to-deposits ratio, emerging markets |
| JEL: | E51 F30 G21 |
| Date: | 2016–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2016_004&r=tra |
| By: | Fabrice Defever; Alejandro Riaño |
| Abstract: | We study the effect of subsidies subject to export share requirements (ESR) — that is, conditioned on a firm exporting at least a given fraction of its output — on exports, the intensity of competition and welfare, through the lens of a two-country model of trade with heterogeneous firms. Our calibrated model suggests that this type of subsidy boosts exports more and provides greater protection for domestic firms than a standard unconditional export subsidy, albeit at a substantial welfare cost. |
| Keywords: | Export Subsidies; Export Share Requirements; Trade Policy; Heterogeneous |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:not:notgep:16/03&r=tra |
| By: | Naubahar Sharif (Division of Social Science, Hong Kong University of Science and Technology; Institute for Emerging Market Studies, Hong Kong University of Science and Technology) |
| Abstract: | Naubahar Sharif, Associate Professor of HKUST’s Social Science Division, describes China’s current technological prowess in terms of research and development (R&D) intensity, personnel, number of scientific publications, and number of patent applications, all of which indicate that China is currently one of the world’s top producers of high technology research, and is set to become the world’s technology leader before the end of the century. |
| Keywords: | China, research and development, R&D, technology, technlogy leadership |
| JEL: | G28 |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:hku:briefs:201611&r=tra |
| By: | Avraamova, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Eliseeva, Marina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Loginov, Dmitriy (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Mareeva, Svetlna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Reduction of the excessive socio-economic inequality of various layers of the Russian population is possible not only through the implementation of social policy compensatory functions but also due to its stimulating functions – population resource capabilities enhancement. The relevance of such approach to the problem of inequality reduction increases in periods of economic instability. The purpose of the research was to find out what resource capabilities the population obtained to maintain the level of welfare in this period. The analysis was conducted in two dimensions – at the level of individuals and at the level of households that was contributed by specially arranged sample survey representing whole Russian population. The models of socio-economic behavior of individuals and households directed at increasing or retaining the gained level of welfare are reviewed in details. |
| Keywords: | excessive socio-economic inequality, Russia, population |
| Date: | 2016–03–10 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:1035&r=tra |
| By: | Zhong, Hua; Qing, Ping; Hu, Wuyang |
| Abstract: | This study attempts to investigate Chinese rural consumer online expenditures and factors explaining their purchasing decisions. Through a survey of rural consumers in China, we investigate their perceptions and attitudes on online shopping, such as the most often purchased items, reasons of shopping online, the most favorite online store, the most often used payment method, online expenditures, online shopping frequencies, and daily online viewing activities. Our results show that if consumer incomes are mainly from migrant labors or local non-agriculture related small businesses, they will shop online more frequently. If consumers’ main monthly expenditures are medical expenses and clothing, they will spend 74 and 57 yuan less per month, respectively, to shop online. The more time consumers spend on online activities, the more frequently they will purchase online, and the more money they will spend on online shopping. |
| Keywords: | Expenditure, Online shopping, Rural consumer, Consumer/Household Economics, Marketing, D12, Q12, |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:235575&r=tra |
| By: | Antoine Goujard |
| Abstract: | Poland has significantly upgraded its infrastructure network over the past decade. However, bottlenecks still weigh on productivity growth and environmental and health outcomes. The EU 2014-20 programming period is an opportunity to improve the management of infrastructure investment. In the transport sector, the country allocated most recent funding to roads, but it plans significant investment in railway and urban public transport in 2014-20. Strengthening metropolitan governance, building up medium-term infrastructure management capabilities and reducing funding uncertainty would ensure more efficient spending. In the energy sector, electricity generation capacity is tight, while regulatory uncertainty, administrative burdens and a lack of interregional and international trade capacity has hampered the development of renewables. The authorities are seeking to develop nuclear power, but they need to take fully into account tail risks involved and its long-term costs. More energy efficiency investment would also be valuable, as current support systems do not provide sufficient incentives. Améliorer l'investissement en infrastructures de transports et énergétiques en Pologne La Pologne a significativement renforcé son réseau d’infrastructures au cours de la dernière décennie. Cependant, des goulets pèsent toujours tant sur la croissance de la productivité que sur la santé de la population et l’environnement. La période de programmation 2014-20 de l’UE est une opportunité d’améliorer la gestion de l’investissement en infrastructures. Dans le secteur des transports, après avoir financé principalement les infrastructures routières, la Pologne prévoit de consacrer d’importants investissements aux transports ferroviaires et publics urbains entre 2014 et 2020. Une meilleure gouvernance des métropoles, des capacités accrues de gestion des infrastructures à moyen terme et une réduction de l’incertitude des financements garantiraient une plus grande efficience des dépenses. Par ailleurs, dans le secteur de l’énergie, les installations de production électrique satisfont tout juste les besoins, tandis que l’incertitude réglementaire, le poids des charges administratives et les capacités commerciales insuffisantes aux niveaux interrégional et international freinent le développement des énergies renouvelables. Les autorités cherchent à développer le nucléaire, mais elles doivent tenir pleinement compte des risques extrêmes et de ses coûts à long terme. La Pologne aurait également intérêt à investir davantage dans l’efficacité énergétique car les dispositifs de soutien actuels ne fournissent pas des incitations suffisantes. |
| Keywords: | investment, transport, regulation, energy, infrastructure |
| JEL: | E62 H54 H57 L91 L94 L95 L96 O43 |
| Date: | 2016–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1302-en&r=tra |
| By: | Limonova, Ekaterina (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | The article discusses the possibility of using valuation of bank staff using a regression model of professional competencies. The advantages of its use in personnel management system. We describe the most important for the banking business competence. The results of evaluation of the use of bank staff on the basis of six months in one of the largest commercial banks in the Russian Federation. |
| Keywords: | personnel management system, professional competence, a model of multiple regression, the estimation of personnel for six months results. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:m16l2&r=tra |
| By: | Xu, Bing; Wang, Honglin; Rixtel, Adrian van |
| Abstract: | This paper investigates if relationship lending and bank market concentration permit informational rent extraction through collateral. We use equity IPOs as informational shocks that erode rent seeking opportunities. Using unique loan data from China, we find collateral incidence increases with relationship intensity and bank market concentration for pre-IPO loans, while these effects are moderated post-IPO. We further discover after an IPO, rent extraction is moderated for safe firms but intensified for risky firms. These results are not driven by differences or changes in financial risks. Ours is the first investigation on collateral determinants for China with loan-level data. |
| Keywords: | informational rents, collateral, relationship lending, market structure, IPOs, China |
| JEL: | G21 L11 |
| Date: | 2016–03–17 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2016_005&r=tra |
| By: | Zhang, Yuquan W.; Mu, Jianhong E.; Musumba, Mark |
| Abstract: | Climate change (CC) can influence farmers’ crop choices and result in changes in the regionally varying crop mixes. Using a data set including sown area shares for each crop at province level over the most recent time period of 2000 through 2013 in China, this study employed a seemingly unrelated regression (SUR) system to investigate the effects of climate variables on regional crop mixes. The influence of economic and land use intensity on crop area shares were also examined. Results show that winter temperature appears to be a more determining factor than growing season temperature for a region’s crop mix. Also regions with comparatively high farming values tend to see larger percentages of vegetables and orchards. As temperature rises, grains and soybeans that are linked to traditional food security may encounter compromises in production, whereas tubers, small oil crops, vegetables, and orchards would very likely see increases in area shares. Nonetheless, vegetables and orchards may not necessarily step in under future CC due to cost and land use intensity reasons. |
| Keywords: | Climate Change, Crop Mix, Seeming Unrelated Regression, Multi-Cropping Index, Environmental Economics and Policy, Land Economics/Use, Production Economics, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:235387&r=tra |
| By: | Polterovich, Victor |
| Abstract: | The influence of civic culture is considered on the effective choice of the reform plan which is defined as a sequence of interim institutions that "connects" the initial institution with final, desirable for reformer. Accounting for prevailing values, characteristics of mass behavior and competencies under designing intermediate institutions contributes to the success of reform, whereas ignoring them leads to high costs and dysfunctions. In addition, interim institutions can influence the cultural shifts, causing further advancement or failure of reforms. The validity of these theses is demonstrated in the analysis of the privatization and democratization processes in various countries. The hypothesis is put forward and discussed that, in developing countries, one of the important causes of reform failures is a cultural gap between the elite of society and the mass of citizens. |
| Keywords: | catching-up development, institutional trajectory, interim institution, trust, postmaterialism, social values, privatization, democratization |
| JEL: | A13 B52 D02 O1 P11 P16 P5 |
| Date: | 2016–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71658&r=tra |