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on Transition Economics |
| By: | Gandenberger, Carsten |
| Abstract: | China's photovoltaics sector provides an interesting case to examine, if and how the country is aiming at innovation leadership after having established itself as the global manufacturing leader. Due to the dominance of Chinese companies in the global PV market, their innovation and production decisions have become crucially important for the global transition towards renewable energy. Another aspect of PV technology is that technological progress has driven the develop-ment of various types of PV cells, which can be categorised in three different technology generations. The functional analysis of the technological innovation system for PV in China conducted in this paper shows, that the government has indeed strengthened indigenous innovation efforts, which has resulted in a rapid rise of academic publications and to a lesser extent of patents for PV technology. A disaggregated analysis of transnational PV patents demonstrates that techno-logical catching-up of China picked up speed in the period between 2008 and 2010 and takes place in all three technology generations. However. technological catch-up has been most successful in the third generation of PV cells, which is still at an experimental stage and predominantly conducted at public research entities. Overall, China's PV sector seems to be still quite far from attaining global innovation leadership, which is mainly due to the relatively low engagement of the corporate sector. However, as the first generation of PV currently dominates the world market and is technologically mature, this will probably not threaten industrial leadership in the short to medium term. |
| Keywords: | Economic Catch-Up,Photovoltaics,Technological Innovation System,China |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s032018&r=tra |
| By: | William Barnett (Department of Economics, The University of Kansas; Center for Financial Stability, New York City; IC2 Institute, University of Texas at Austin); Mingzhi Hu (Department of Investment, School of Public Economics and Administration, Shanghai University of Finance and Economics,Shanghai, China;); Xue Wang (Department of Finance; College of Economics, Jinan University, Guangzhou, China;) |
| Abstract: | Impacts on the probability of transition to entrepreneurship in rural China associated with the utilization of information communication technology (ICT) are estimated using longitudinal data from the China Family Panel Studies (CFPS) survey. We identify cell phone ownership and internet use as proxy variables for ICT utilization and find that cell phone ownership and internet use have positive impacts on entrepreneurship. After controlling for observables and time and regional fixed effects, cell phone users (internet users) are 2.0 (6.4) percentage points more likely to engage in entrepreneurship than the others. Considering that the average entrepreneurship rate for rural households is only 9.5% in the sample, the influence of cell phone ownership and internet use are very strong in the economic sense. Our results are robust to unobservable individual characteristics, model misspecification, and reverse causality of entrepreneurship to ICT utilization. Evidence also suggests that social network and information and knowledge acquisition play the mediating roles in the impact of ICT utilization on entrepreneurship. |
| Keywords: | ICT; social network; information acquisition; entrepreneurship |
| JEL: | D10 M51 Q55 |
| Date: | 2018–02 |
| URL: | http://d.repec.org/n?u=RePEc:kan:wpaper:201802&r=tra |
| By: | Badi H. Baltagi; Peter H. Egger; Michaela Kesina |
| Abstract: | Whether a firm is able to attract foreign capital and whether it may participate at the export market depends on whether the fixed costs associated with doing so are at least covered by the incremental operating profits. This paper provides evidence that success for some firms in attracting foreign investors and in exporting appears to reduce the associated fixed costs with exporting or foreign ownership in other firms. Using data on 8,959 firms located in Shanghai, we find that contagion and spillovers in exporting and in foreign ownership decisions within an area of 10 miles in the city of Shanghai amplify fixed-cost reductions for both exporting as well as foreign ownership of neighboring firms. Contagion among exporters and among foreign-owned firms, respectively, amplify shocks to the profitability of these activities to a large extent. These findings are established through the estimation of a spatial bivariate probit model. |
| Keywords: | firm-level exports, firm-level foreign ownership, contagion, spatial econometrics, Chinese firms |
| JEL: | C11 C31 C35 F14 F23 L22 R10 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_6993&r=tra |
| By: | Michael Funke; Rongrong Sun; Linxu Zhu |
| Abstract: | Household borrowing in China has increased considerably in recent years, raising concerns about the household sector’s vulnerability and implications for the stability of the financial system. We construct a number of granular debt-burden indicators at the level of individual Chinese households and calculate the share of households that are financially vulnerable using the three available waves (2011, 2013 and 2015) of China’s Household Finance Survey. Overall loan-to-value (LTV) ratios appear safe and sound at first glance, but closer scrutiny reveals that Chinese households in the lowest income quintile face high vulnerability and struggle to meet their debt commitments. Our stress tests suggest that Chinese households in higher quintiles, despite the huge increase in household indebtedness, are not particularly vulnerable to declining incomes or falling house prices |
| Keywords: | Household debt, household financial vulnerability, financial stability |
| JEL: | D10 D14 G21 |
| URL: | http://d.repec.org/n?u=RePEc:fds:dpaper:201803&r=tra |
| By: | Ngai, L. Rachel; Pissarides, Christopher; Wang, Jin |
| Abstract: | China's hukou system imposes two main barriers to population movements. Agricultural workers get land to cultivate but are unable to trade it in a frictionless market. Social transfers (education, health, etc.) are conditional on holding a local hukou. We show that the land policy leads to over-employment in agriculture and it is the more important barrier to industrialization. Effective land tenure guarantees and a perfect competitive rental market would correct this inefficiency. The local restrictions on social transfers favour rural enterprises over urban employment with a relatively smaller impact on industrialization. |
| Keywords: | Chinese immigration; Chinese land policy; imperfect rental market; mobility barriers; hukou registration; social transfers |
| JEL: | J61 O18 R23 |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:87619&r=tra |
| By: | Narloch, Ulf; Bangalore, Mook |
| Abstract: | Despite complex interlinkages, insights into the multifaceted relationship between environmental risks and poverty can be gained through an analysis of different risks across space, time and scale within a single context using consistent methods. Combining geo-spatial data on eight environmental risks and household survey data from 2010–2014 for the case study of Vietnam, this paper shows: (i) at the district level, the incidence of poverty is higher in high risk areas, (ii) at the household level, poorer households face higher environmental risks, (iii) for some risks the relationship with household-level consumption varies between rural and urban areas, and (iv) environmental risks explain consumption differences between households, but less so changes over time. While altogether these analyses cannot establish a causal relationship between environmental risks and poverty, they do indicate that Vietnam's poor are disproportionally exposed. Given growing pressures due to climate change, addressing such risks should be a focus of poverty reduction efforts. |
| Keywords: | climate change; consumption; environment; livelihood; poverty; risks; vulnerability |
| JEL: | I3 I30 I32 O10 Q50 Q54 R20 |
| Date: | 2018–04–05 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:87553&r=tra |
| By: | Bednarska-Olejniczak, Dorota; Olejniczak, Jarosław |
| Abstract: | The presented research results cover a comparative analysis of cyclical surveys about attitude to social participation conducted among students (members of Y generation) of Wroclaw's economic universities in 2008, 2013 and 2017. The basic purpose of the study is to compare the attitudes to social participation of students at similar stages of life (students) and at similar age over the years 2008-2017. The second aim is to answer the question whether these attitudes have changed with the introduction of active participation of citizens through the use of the participatory budget. The survey included 40 problematic questions. In the majority of them a five-step Likert scale was applied. The results of the survey show that the dating analysed period surveyed groups of questioned young Poles had very low interest in gmina financial activity but it was slightly rising. The feeling of real influence on local issues among the respondents is slowly rising what may result, among other things, from the fact that the processes of participatory budget in municipalities became widespread. Additionally, the percentage of people who do not feel the need to increase their impact on municipal affairs continues to raise what can be caused by existing more satisfactory possibilities for citizens to participate in the activities of municipalities. |
| Keywords: | Social Participation, Local Government Budget, Generation Y |
| JEL: | H70 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:86400&r=tra |
| By: | Chen, Yi; Huang, Yingfei |
| Abstract: | China introduced its world-famous One-Child Policy in 1979. However, its fertility appears to have declined even faster in the early 1970s than it did after 1979. In this study, we highlight the importance of the Family Planning Leading Group in understanding the fertility decline since the early 1970s. In 1970, provinces gradually established an institution named the Family Planning Leading Group to facilitate the restoration of family planning, which had previously been interrupted by the outbreak of the Cultural Revolution. An important feature of this policy change is that the process differed by province. We find provinces that formed the leading group earlier also experienced an earlier decline in the fertility rate. Exploiting this provincial variation in establishment year, we estimate a difference-in-difference model that can explain about half of the decline in China's total fertility rate from 5.7 in 1969 to 2.7 in 1978. In comparison to the 1979 One-Child Policy, which previous research has widely treated as an exogenous shock to the fertility rate, our empirical strategy has three features: it captures a greater decline in the fertility rate, does not result in a contemporaneous increase in the sex ratio, and is robust to the inclusion of province-specific trends. |
| Keywords: | Family Planning,Fertility Rate,Sex Ratio |
| JEL: | J13 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:204&r=tra |
| By: | Karel Janda (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Department of Banking and Insurance, Faculty of Finance and Accounting, University of Economics, Namesti Winstona Churchilla 4, 13067 Prague, Czech Republic); Zuzana Lajksnerova (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic); Jakub Mikolasek (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic) |
| Abstract: | This paper provides a general equilibrium theoretical model of alcohol taxation and empirically estimates this model. For this purpose, we use a model determined by both externality corrections and fiscal considerations as the tax increase is assumed to immediately change other governmental policies such as labour taxation or medical expenditures. The results of our analysis show that under the most of parametric scenarios the current Czech tax rate on beer and wine is below its optimal level and that the fiscal component has a significant impact on the optimal level of tax. |
| Keywords: | Alcohol, Beer, Wine, Czech Republic, Elasticity, Price, Social costs, Tax |
| JEL: | H21 Q02 Q18 |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_08&r=tra |
| By: | Vinokurov, Evgeny; Lobyrev, Vitaly; Tikhomirov, Andrey; Tsukarev, Taras |
| Abstract: | This report, prepared with the participation of experts from the Institute of the Economy and Transport Development, presents the results of quantitative assessment of freight traffic growth prospects along the China–EAEU–EU axis. The report provides a description of general trends affecting development of freight transport subject to commodity structure and mode of transport. Special attention is paid to factors driving changes in freight traffic. The authors present their view of the impact that freight rates have on the metrics of freight traffic being rechannelled to EAEU transport infrastructure and the operation of certain factors, such as regularity (rhythmicity) and timeframes of cargo deliveries. The final part of the report offers an assessment of additional freight traffic which may be attracted to transport routes along the China–EAEU–EU axis, in the short and long term. |
| Keywords: | Transport corridors, Belt and Road Initiative, transport infrastructure, Silk Road, EAEU, China, EU |
| JEL: | F15 R41 R42 |
| Date: | 2018–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:86184&r=tra |
| By: | Karel Janda (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Department of Banking and Insurance, Faculty of Finance and Accounting, University of Economics, Namesti Winstona Churchilla 4, 13067 Prague, Czech Republic); Martin Strobl (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic) |
| Abstract: | We model the future tobacco consumption, size of smoking population and governmental tax revenues in the Czech Republic. The main assumption of our model states that smokers determine their future tobacco consumption behavior as adolescents. Further assumptions make the model applicable to the data from the Czech National Monitoring Centre for Drugs and Drug Addiction. Future teenage smoking rates and average consumption are the inputs to the model; consumption growth coeffcients for each age category are estimated using zero-inflated negative binomial regression. Several scenarios are built to model possible developments, including extreme cases. All our scenarios show that all model outcomes are going to grow until 2028 in a very similar pattern. In particular, the projected number of smokers in 2028 is by 4-8% higher than in 2013, the total daily tobacco consumption and tax revenue by 7-26%. This increase is induced by aging of large birth cohorts. |
| Keywords: | smoking, tobacco, cigarettes, consumption, taxation, forecasting |
| JEL: | D12 I12 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_01&r=tra |
| By: | Nicholas Tyack (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; The Graduate Institute of International and Development Studies, Geneva); Milan Scasny (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Charles University Environment Center, Prague) |
| Abstract: | We estimate the willingness-to-pay (WTP) for conserving crop varieties for ten years in the Czech Republic using a double-bounded dichotomous choice model to analyze data collected with an online contingent valuation survey administered to a main country-wide sample of 1037 respondents and a smaller sub-sample of 500 representative of the agricultural region of South Moravia. Mean WTP was found to be about $9 for both the Czech and S. Moravian sub-samples, corresponding to country-wide benefits of $68 million. These benefits increase by 5% for every ten varieties conserved, implying total welfare benefits of $80 million for a program conserving the maximum number of 35 additional crop varieties. The study reveals the previously unmeasured social benefits of crop conservation activities in the Czech Republic, and illustrates an empirical approach of potential value for policymakers responsible for determining funding levels for genetic resource conservation. |
| Keywords: | Crop diversity; plant genetic resources for food and agriculture (PGRFA); public goods; contingent valuation; double-bounded dichotomous choice |
| JEL: | Q18 Q51 Q57 |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_09&r=tra |
| By: | Vladimir Davydenko (Tyumen State University); Jerzy Kaźmierczyk (PUEB - Poznań University of Economics and Business); Gulnara Fatykhovna Romashkina (Tyumen State University); Elżbieta Żelichowska (PUEB - Poznań University of Economics and Business) |
| Abstract: | This paper examines the diversity of employee incentives from the perspective of banks employees in Poland. According to the theory, employee motivation is a very significant factor which leads to the success of the entire organization and it is closely related to the motivation system in a workplace. It is important to underline the fact that motivation system is not always well-chosen which means that it is also not efficient in each organization. What is more, it is possible to observe differentiation in used motivation incentives in banks among different groups of employees. The purpose of this study was to investigate this segmentation according to the type of bank, gender and job position. Firstly, grounded in the literature, this article explains the importance of employee motivation tools. The research among bank employees let to verify propounded in this article theses. The results revealed the diversity in using employee incentives in banks in Poland. Furthermore, showed that commercial banks use more diverse employee incentives than cooperative ones, female employees in banks are motivated less diversely than males and managerial staff are motivated more diversely than employees in non-managerial positions. |
| Keywords: | Poland,banks,employee,HRM,motivation,incentives |
| Date: | 2017–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01766506&r=tra |
| By: | Heinrich, Timo; Shachat, Jason |
| Abstract: | This study experimentally evaluates the risk preferences of children and adolescents living in an urban Chinese environment. We use a simple binary choice task that tests risk aversion as well as prudence. This is the first test for prudence in children and adolescents. Our results reveal that subjects from grades 5 to 11 (10 to 17 years) make mostly risk averse and prudent choices. With respect to risk aversion behavior of 3rd graders (8 to 9 years) does not differ statistically from risk neutrality. We also find 3rd graders to make mostly prudent choices. We also find evidence for a transmission of preferences: risk aversion is significantly correlated between children and their parents. Also, prudence is significantly correlated between girls (but not boys) and their parents. |
| Keywords: | risk aversion; prudence; transmission of preferences; age effects; experimental economics; children |
| JEL: | C93 D81 J13 |
| Date: | 2018–04–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:86456&r=tra |
| By: | Simona Malovana (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Czech National Bank, Na Prikope 28, 115 03 Prague 1, Czech Republic); Dominika Kolcunova (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Czech National Bank, Na Prikope 28, 115 03 Prague 1, Czech Republic); Vaclav Broz (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Czech National Bank, Na Prikope 28, 115 03 Prague 1, Czech Republic) |
| Abstract: | This paper studies the extent to which monetary policy may affect banks' perception of credit risk and the way banks measure risk under the internal ratings-based approach. Specifically, we analyze the effect of different monetary policy indicators on banks' risk weights for credit risk. We present robust evidence of the existence of the risk-taking channel in the Czech Republic. Further, we show that the recent prolonged period of accommodative monetary policy has been instrumental in establishing this relationship. Finally, we obtain comparable results by extending the analysis to cover all the Visegrad Four countries. The presented findings have important implications for the prudential authority, which should be aware of the possible side-effects of monetary policy on how banks measure risk. |
| Keywords: | Banks, financial stability, internal ratings-based approach, risk-taking channel |
| JEL: | E52 E58 G21 G28 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_03&r=tra |
| By: | Karel Janda (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Department of Banking and Insurance, Faculty of Finance and Accounting, University of Economics, Namesti Winstona Churchilla 4, 13067 Prague, Czech Republic); Michaela Koscova (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic) |
| Abstract: | This paper analyses Slovak electricity market with a focus on photovoltaic energy. It evaluates the impact of the solar energy penetration into energy mix on spot prices, seeks evidence of the merit order effect in the Slovak electricity market and quantifies it based on hourly data. The multivariate regression analysis covers the period 2011-2016. The rather small merit order effect estimated by an OLS time series model leads to the small decrease of Slovak electricity wholesale prices. This spot price reduction attributable to the photovoltaics does not outweigh the costs of the support scheme borne by end users what implies a consumer loss. |
| Keywords: | Slovakia; Photovoltaics; Energy policy; Merit order effect |
| JEL: | Q42 H23 M21 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_02&r=tra |