nep-tra New Economics Papers
on Transition Economics
Issue of 2018‒09‒10
27 papers chosen by
J. David Brown
United States Census Bureau

  1. Size, Determinants, and Consequences of Corruption in China's Provinces: The MIMIC Approach By Hailin Chen; Friedrich Schneider; Qunli Sun
  2. Financial and economic mechanisms of promoting innovative activity in the context of the digital economy formation By Mikhail Yakovlevich Veselovsky; Tatiana Vitalievna Pogodina; Raisa Vasilyevna Ilyukhina; Tatyana Anatolyevna Sigunova; Nina Fedorovna Kuzovleva
  3. Unintended Consequences of China's New Labor Contract Law on Unemployment and Welfare Loss of the Workers By Akee, Randall K. Q.; Zhao, Liqiu; Zhao, Zhong
  4. Human-Capital Externalities in China By Edward L. Glaeser; Ming Lu
  5. Rural waste disposal issues within urban borders By Florin Mihai; Corneliu Iatu; Adrian Grozavu
  6. Socio-Economic Inequalities in Tobacco Consumption of the Older Adults in China: A Decomposition Method By Si, Yafei; Zhou, Zhongliang; Su, Min; Wang, Xiao; Li, Dan; Wang, Dan; He, Shuyi; Hong, Zihan; Chen, Xi
  7. Convergence or Divergence? Analysis of Regional Development Convergence in Hungary By Bakucs, Zoltan
  8. Per capita food consumption trends in Ukraine By Seheda, Serhii
  9. Vietnam; 2018 Article IV Consultation-Press Release and Staff Report By International Monetary Fund
  10. Participation in formal and informal cooperation and its effect on productivity in Central Asia: Empirical evidence from Uzbekistan By Bobjonov, I.; Teuber, R.
  11. Russian food embargo and the lost trade By Cheptea, Angela; Gaigné, Carl
  12. Evaluation of investment support under Rural Development Programme 2014-2020 – preliminary results for Poland By Pawlowska, Aleksandra; Bocian, Monika; Jaroszewska, Joanna
  13. Lessons learned from the early implementation of the 2014-2020 Romanian Rural Development Programme By Felici, Francesco; Gramillano, Andrea; Floria, Andrea; Mazurencu – Marinescu Pele, Miruna; Nistor, Rebeca
  14. Farmer behaviour towards the agricultural risk management tools provided by the CAP: a comparison between Italy and Poland By Trestini, Samuel; Giampietri, Elisa; Smiglak-Krajewska, Magdalena
  15. What ails fishery insurance in China? - Evaluating fishermen's willingness to pay in central coastal areas By Hairong Mu; Hui Zheng; Chunyang Wang
  16. HEALTH PROFESSIONAL?S RETENTION IN RURAL AND REMOTE AREAS. A CASE STUDY ON RURAL AREAS OF BUCOVINA, ROMANIA By Ioana Palade
  17. Positions of the short supply chains in the Member States of the European Union, especially in Hungary By Kiss, Konrad; Takacs-Gyorgy, Katalin
  18. Cyclical Dynamics of Trade Credit with Production Networks By WUKUANG CUN; Junjie Xia; Vincenzo Quadrini
  19. Security of the business organizations as a result of the economic crisis By Nadežda Jankelová; Andrea Jankurová; Martina Beňová; Zuzana Skorková
  20. The Predicting Power of Soft Information on Defaults in the Chinese P2P Lending Market By Yao Wang; Zdenek Drabek; Zhengwei Wang
  21. Relations between agri-environmental, economic and social dimensions of farm sustainability By Sulewski, Piotr; Kłoczko-Gajewska, Anna
  22. Market Constraints, Misallocation, and Productivity in Vietnam Agriculture By Stephen Ayerst; Loren Brandt; Diego Restuccia
  23. Analysing the impact of subsidies in the Albanian agriculture sector – A comparative approach By Gecaj, Merita; Shahu, Edmira Ozuni; Imami, Drini; Skreli, Engjell; Jambor, Attila
  24. Food Demand System in Transition Economies: Evidence from Kosovo By Braha, Kushtrim; Cupak, Andrej; Qineti, Artan; Pokrivcak, Jan
  25. The Choice of Bulgarian Migrants – Stay or Leave Again? By Mintchev, Vesselin; Boshnakov, Venelin
  26. Effects of Economics Liberalization on Gender Earnings and the Difference: The Case of Hungary By Tseveenbolor Davaa; David Kiefer; Valeria Szekeres
  27. Post 2020 CAP in Poland: An impact analysis By Fradj, Nosra Ben; Rozakis, Stelios; Jayet, Pierre-Alain

  1. By: Hailin Chen; Friedrich Schneider; Qunli Sun
    Abstract: This paper uses a multiple indicators and multiple causes (MIMIC) model and estimates the extent of corruption in 30 Chinese provinces from 1995 to 2015. Treating corruption as an unobserved latent variable, the MIMIC results show that both government size and public investment have significant positive effects on corruption, while fiscal decentralization, citizen education level, average public sector wages, intensity of law enforcement, media supervision, political control and FDI all have significant negative effects on corruption. Among them, education level, size of public investment, intensity of law enforcement and political control are the most important determinants of China’s corruption. Additionally, we find that corruption decreases GDP and residents’ income significantly. In the 30 provinces the corruption index shows a negative trend from 1995 to 2015. Comparing the extent of corruption in the eastern, central and western provinces, we also find that the more developed the region, the lower the extent of corruption.
    Keywords: corruption index, determinants and consequences, MIMIC model, China’s provinces
    JEL: D72 D73 H11 H77 K42
    Date: 2018
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_7175&r=tra
  2. By: Mikhail Yakovlevich Veselovsky (University of Technology); Tatiana Vitalievna Pogodina (Financial University under the Government of the Russian Federation); Raisa Vasilyevna Ilyukhina (Moscow Technological University); Tatyana Anatolyevna Sigunova (Moscow Technological University); Nina Fedorovna Kuzovleva (Moscow Technological University)
    Abstract: The paper analyzes some financial, tax, information, communication, infrastructural, technological and organizational mechanisms of innovative activity promotion in conditions of transition to a digital economy. End-to-end technologies including "Big Data", "New Production Technologies", "Quantum Technologies", "Technologies of Virtual and Augmented Realities", the possibilities of their application in various sectors of the national economy were singled out and analyzed. The role of end-to-end technologies in the development of the Russian economy and promotion of innovative activities of companies was studied. A comparative analysis of the main indicators of informatization of the society of Russia and some leading foreign countries for the period of 2005-2015 was carried out. The conclusions were made about an insufficient use of the Internet in Russia, primarily in rural areas, which hindered the social progress of Russian society. The leading role of digital (information) technologies in solving social problems, including education, social services and healthcare, was defined. The necessity of development of electronic services in the sphere of education and health was proved. Ways of cluster development based on the example of the Kaluga Region in the development of digital technologies were studied. The influence of development institutions on stimulating innovation activity in Russia was analyzed.
    Date: 2018–03–30
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-01829712&r=tra
  3. By: Akee, Randall K. Q. (University of California, Los Angeles); Zhao, Liqiu (Renmin University of China); Zhao, Zhong (Renmin University of China)
    Abstract: China's new Labor Contract Law, which intended to strengthen the labor protection for workers, went into effect on January 1, 2008. The law stipulated that the maximum cumulative duration of successive fixed-term (temporary) labor contracts is 10 years, and employees working for the same employer for more than 10 consecutive years are able to secure an open-ended (permanent) labor contract under the new law, which is highly desirable to employees. However, in order to circumvent the new Labor Contract Law, some employers may have dismissed workers, after the passage of the new law, who had worked in the same firm for more than 10 years. Using data from the 2008 China General Social Survey, we find strong evidence that firms did in fact dismiss their formal-contract employees who have been employed for more than 10 years. Additionally, using a regression discontinuity design based on this exogenous change in unemployment status for this particular group of workers, we show that the dismissed workers suffered significant welfare loss in terms of happiness. Our results are robust to various specifications and placebo tests.
    Keywords: labor contract law, unemployment, happiness, regression discontinuity design, China
    JEL: J41 J64 I31
    Date: 2018–07
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp11705&r=tra
  4. By: Edward L. Glaeser; Ming Lu
    Abstract: This paper provides evidences of heterogeneous human-capital externality using CHIP 2002, 2007 and 2013 data from urban China. After instrumenting city-level education using the number of relocated university departments across cities in the 1950s, one year more city-level education increases individual hourly wage by 22.0 percent, more than twice the OLS estimate. Human-capital externality is found to be greater for all groups of urban residents in the instrumental variable estimation.
    JEL: E02 H23 J0 J24 P20 R11 R19 R39
    Date: 2018–08
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:24925&r=tra
  5. By: Florin Mihai (Alexandru Ioan Cuza University of Iași [Romania]); Corneliu Iatu; Adrian Grozavu (Alexandru Ioan Cuza University of Iași [Romania])
    Abstract: The paper examines the waste management issues in the villages annexed to administrative-territorial units of the Romanian cities which have been frequently neglected by urban waste operators. The lack of waste collection services in such peri-urban communities favored the illegal waste disposal practices particularly prior to EU accession. The extension of waste collection services from main cities to such areas is compulsory in order to mitigate the environmental risks and the public health threats. The paper estimates the amounts of household waste susceptible to be uncontrolled disposed of by peri-urban villages in different geographical areas of NorthEast region with a particular focus on Neamt county. The paper points out that these rural settlements should receive the same attention concerning the municipal waste management services as the main urban areas. Traditional recovery of waste fractions at the household level (e.g., home composting) should be further promoted in such areas in order to avoid illegal dumping issue and to prevent the landfill of biodegradable waste as requested by EU regulations.
    Keywords: waste management,illegal waste dumping,peri-urban areas,pollution
    Date: 2018–06–30
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-01838486&r=tra
  6. By: Si, Yafei (Xi’an Jiaotong University); Zhou, Zhongliang (Xi’an Jiaotong University); Su, Min (Xi’an Jiaotong University); Wang, Xiao (Xi’an Jiaotong Liverpool University); Li, Dan (Xi’an Jiaotong University); Wang, Dan (Xi’an Jiaotong University); He, Shuyi (Xi’an Jiaotong Liverpool University); Hong, Zihan (Xi’an Jiaotong Liverpool University); Chen, Xi (Yale University)
    Abstract: In China, tobacco consumption is a leading risk factor for non-communicable diseases, and understanding the pattern of socio-economic inequalities of tobacco consumption will, thus, help to develop targeted policies of public health control. Data came from the China Health and Retirement Longitudinal Study in 2013, involving 17,663 respondents aged 45 and above. Tobacco use prevalence and tobacco use quantities were defined for further analysis. Using the concentration index (CI) and its decomposition, socio-economic inequalities of tobacco consumption grouped by gender were estimated. The concentration index of tobacco use prevalence was 0.044 (men 0.041; women −0.039). The concentration index of tobacco use quantities among smokers was 0.039 (men 0.033; women 0.038). The majority of the inequality could be explained by educational attainment, age, area, and economic quantiles. Tobacco consumption was more common among richer compared to poorer people in China. Gender, educational attainments, age, areas, and economic quantiles were strong predictors of tobacco consumption in China. Public health policies need to be targeted towards men in higher economic quantiles with lower educational attainment, and divorced or widowed women, especially in urban areas of China.
    Keywords: tobacco consumption, inequality, concentration index, decomposition, China
    JEL: I12 I14 J14
    Date: 2018–07
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp11708&r=tra
  7. By: Bakucs, Zoltan
    Abstract: The enlargement of the European Union (EU) led to an increase in regional development differences, challenging the EU structural policy. Whilst there are a wealth of papers discussing international and across EU development convergence, the issue seems under-researched at national level, especially when small territorial units are considered. This paper aims to partially fill this gap, by using low aggregation (Local Administrative Unit 1, LAU1) territorial data between 2002 and 2013 - a period that comprises Hungary’s EU accession and also the years of the recent global financial crisis. We employ a novel approach to circumvent the lack of income, productivity or competitiveness data at LAU1 level by deriving two Regional Development Indices (RDI) resting on the estimation of an internal migration functions. Once the RDIs are estimated, we proceed to a test sigma, beta and unit root convergence. Further, we assess the probabilities of LAU1 region specific RDIs of changing their positions within distributional quartiles. Results regional divergence and low mobility of regions with rather bleak consequences for Hungarian and indeed European cohesion aims.
    Keywords: Agricultural and Food Policy, International Development
    Date: 2018–04–17
    URL: http://d.repec.org/n?u=RePEc:ags:aesc18:273487&r=tra
  8. By: Seheda, Serhii
    Abstract: The overall objective of this study was to analyze per capita food consumption trends in Ukraine from 1991 to 2016 and estimate the main factors responsible for its changes. According to the study per capita food consumption has shown a "gap" during the period of 1991-2001 years. The next decade was characterized by rising with a "peak" in 2013-2014. The main factors influencing on food consumption were the average annual nominal wage adjusted by consumer price index and absolute share of income spend on food. The report has emphasized the importance of providing deep global reforms of Ukrainian economic.
    Keywords: Demand and Price Analysis
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:271974&r=tra
  9. By: International Monetary Fund
    Abstract: 2017 was a bumper year of broad-based and non-inflationary growth. Reforms continued, including in the banking sector, privatizations and cuts in red tape. The momentum is expected to continue, aided by reforms, higher potential output, and the global recovery. However, economic distortions and capacity constraints remain, as do external and domestic risks and longer-term challenges. The strong economy provides an opportunity for additional reforms to boost investment, ensure durable growth and resilient balance sheets, and reduce the external surplus.
    Keywords: Vietnam;Asia and Pacific;
    Date: 2018–07–10
    URL: http://d.repec.org/n?u=RePEc:imf:imfscr:18/215&r=tra
  10. By: Bobjonov, I.; Teuber, R.
    Abstract: This study discusses the importance of cooperation in Central Asian Uzbekistan. Determinants of cooperation as well as benefits from cooperation are investigated using survey data of 405 farms in the central grain producing region of Uzbekistan. The study distinguishes between formal and informal cooperation which could have vital importance in transition economies, which is not explicitly discussed in the existing literature so far. The analysis of the determinants shows that participation in cotton procurement mechanisms is the main factor which brings farmers to membership in formal cooperatives. Informal cooperation seems to be more pronounced among middle-scale and commercially-oriented farmers than among large-scale or subsistence-oriented household farms. Larger demand for informal cooperation than formal cooperation is explained by limited type of services in formal cooperatives designed to serve cotton producers. Therefore formal cooperatives need to diversify their services to cover wider demand currently fulfilled by informal cooperation. Besides, our results indicate that participation in both formal and informal cooperatives has a positive effect on wheat productivity. This positive impact of cooperation might stem from improved access to machinery, proper timing and increased input quality.
    Keywords: Agricultural and Food Policy, International Development
    Date: 2018–07
    URL: http://d.repec.org/n?u=RePEc:ags:iaae18:276002&r=tra
  11. By: Cheptea, Angela; Gaigné, Carl
    Abstract: We analyse the impact of the Russian food embargo on European and Russian trade patterns using a triple-difference estimation strategy. We quantify the effects on the value of trade, the trade price of products covered by the ban, and the new trade flows generated by the ban. Our results point to an average e 125 million loss in monthly EU28 exports to Russia due to the ban (with Lithuania, Poland, and Germany bearing the largest losses). However, only 45% of the drop in EU28 exports of banned products to Russia would be due to the ban. In addition, EU products banned from the Russian market were sold elsewhere at lower prices. The reorientation of EU exports to other markets translated into selling larger amounts to old trade partners, as well as in accessing new markets. EU member states were unevenly affected by the ban. Germany and Poland compensated their large losses on the Russian market by a strong increase in exports to other trade partners (mostly intra-EU), at the expense of other EU acountries, such as France and Denmark.
    Keywords: International Relations/Trade
    Date: 2018
    URL: http://d.repec.org/n?u=RePEc:ags:inrasl:276238&r=tra
  12. By: Pawlowska, Aleksandra; Bocian, Monika; Jaroszewska, Joanna
    Abstract: The aim of support under the second pillar of the CAP is to improve the economic situation of farms. The research objective of the study is to estimate the effect of support for investments under RDP 2014-2020 on an increase in labour productivity on Polish farms, defined as gross value added per annual work unit (GVA/AWU). The applied research tool is propensity score matching, enabling to calculate the average treatment effect for the treated (ATT). The study uses data from Polish FADN (Farm Accountancy Data Network) regarding individual farms.
    Keywords: Agricultural and Food Policy
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:271973&r=tra
  13. By: Felici, Francesco; Gramillano, Andrea; Floria, Andrea; Mazurencu – Marinescu Pele, Miruna; Nistor, Rebeca
    Abstract: The paper discusses the main findings of the ongoing evaluation of the focus area (FA) 2A of the 2014-2020 National Rural Development Programme Romania carried out in 2017 reflecting the programme implementation in 2016.. Focus area (FA) 2A aims at improving the economic performance of all farms and facilitating farm restructuring and modernisation, in order to increase market participation and orientation as well as agricultural diversification. The methodological approach applied to the evaluation combines administrative data collection and analysis, questionnaire survey, interviews, case studies, quantitative methods for indicator analysis, focus groups and counterfactual analysis. The paper focuses on the following aspects of the programme implementation: (1) the combination of new measures and measures using transitional resources, (2) measures promoting infrastructural investments and those investing in agricultural holdings, and (3) the use of the complementary result indicator R2. Concerning the investment measures the paper focuses on sub-measure 4.1 – Investments in agricultural holdings, and sub-measure 6.3 – business start-up aid for development of small farms. Concerning infrastructural measures, the paper examines sub-measure 4.3 – Investments for development, modernization or adaptation of agricultural and forestry infrastructure, which supports the construction and modernization of agricultural country roads. Moreover, the pilot estimate of the R2 indicator allows drawing lessons learned on the methodological feasibility of counterfactual methods, considering the lack of data on the comparison group and the needs of capturing the real outcomes of the Programme.
    Keywords: Agricultural and Food Policy
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:271962&r=tra
  14. By: Trestini, Samuel; Giampietri, Elisa; Smiglak-Krajewska, Magdalena
    Abstract: The literature on risk management widely discussed the determinants of farmers’ insurance adoption, with risk aversion and risk perception being established as the most relevant predictors of farmers’ intention. Being part of an on-going study in EU countries, this paper proposes an integrated model to analyse the simultaneous interrelations among different antecedents of farmer intention, using a structural equation model. To this purpose, a field survey in Italy and Poland was carried out through direct interviews. The preliminary evidences demonstrate that previous insurance adoption at farm level and the subjective trust of producers towards the intermediaries that are somehow responsible for the adoption of such risk management instrument are the main predictors of future intention to take out insurance. Moreover, in line with recent literature, we found risk aversion negatively influencing the intention.
    Keywords: Agricultural and Food Policy
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:271978&r=tra
  15. By: Hairong Mu (Harper Adams University); Hui Zheng (Ocean University of China); Chunyang Wang (Macau University of Science and Technology)
    Abstract: Despite the remarkable development in its fishery sector, the penetration rate of fishery insurance in China is considerably low. This paper examines the key factors that contribute to the poor performance of fishery insurance in the country and investigates fishermen?s willingness to pay (WTP) for the insurance program, based on a survey of 1,280 fishermen in three coastal cities in China. The results indicate fishermen?s decision on adoption of an insurance scheme depends on various factors, among which the magnitude of loss, insurance awareness and education level all have positive impact, but annual income and years of fishing experience are more likely to have negative effects. In addition, the mean WTP for fishery insurance is estimated to be CNY 579 per family, which is equivalent to 1.5% of fishermen's mean annual income. These results provide several policy implications for not only the government but also researchers and insurance companies.
    Keywords: China, fishery insurance, willingness to pay, double-bounded dichotomous choice contingent valuation method, field survey
    JEL: Q22 H42
    Date: 2018–07
    URL: http://d.repec.org/n?u=RePEc:sek:iacpro:7708911&r=tra
  16. By: Ioana Palade (Babes-Bolyai University)
    Abstract: The topic of this paper approaches a complex issue, namely the migration of medical professionals from rural areas. The Romanian medical system has its lacks, but the real problem is in rural and remote areas, where the working conditions determine the general practitioners? migration. In order to analyze this phenomenon and come up with some solutions, we developed a mixed-method study, having recourse to two research methods: the interview and the Discrete Choice Experiment. The Discrete Choice Experiment will focus on finding out the factors that drive the health professionals to migrate from rural and remote areas. Furthermore, the focus group completes our approach, outlining the health professionals? opinion with regards to the working conditions from rural areas of Bucovina. Also, after analyzing the results, we focus on finding some workforce retention strategies. Our findings suggest that the main factors which determine the migration of physicians are the quality of the facility, housing, length of commitment, study assistance, salary and management. These are the main areas that need improvement. Also, the results of the interviews revealed the fact that the family physicians from rural areas of Bucovina are not satisfied with their working conditions and their salaries.
    Keywords: health professionals, rural areas, migration, retention, workforce
    JEL: I18
    Date: 2018–07
    URL: http://d.repec.org/n?u=RePEc:sek:iacpro:7809664&r=tra
  17. By: Kiss, Konrad; Takacs-Gyorgy, Katalin
    Abstract: The present study examines the support-political background of the short supply chains (SSCs) in the European Union. The main objective was to answer the following question: what are the economic and agro-economic reasons which differentiates the weight of SSC-supports among EU Member States, in their rural development programs (RDPs). We used the statistical method of correlation-analysis. (For example) we quantified connections between the percentages of the amount appropriated to the support and the percentages of the small-sized agricultural producers. The results can be considered partial; they are based on the examined index-numbers, and used method. Authentic explanations need further examinations.
    Keywords: Agribusiness
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:271968&r=tra
  18. By: WUKUANG CUN (University of Southern California); Junjie Xia (Peking University); Vincenzo Quadrini (USC)
    Abstract: In this paper we show that in production and trade networks that characterize the Chinese economy there is an externality that (inefficiently) reduces the supply of trade credit from state-owned firms to private-owned firms. Furthermore, the externality becomes more severe in recessions. This implies that the response of trade credit to shocks displays excess sensitivity and amplifies macroeconomic shocks. The paper also studies policy interventions that encourage bank lending and finds that, in the context of the Chinese production and trade credit network, these policies may not be very effective in stimulating the real sector of the economy.
    Date: 2018
    URL: http://d.repec.org/n?u=RePEc:red:sed018:932&r=tra
  19. By: Nadežda Jankelová (University of Economics in Bratislava); Andrea Jankurová (Danubius University); Martina Beňová (University of Economics in Bratislava); Zuzana Skorková (University of Economics in Bratislava)
    Abstract: Global economic crisis is one of the most significant environmental changes influencing all managerial functions – including entrepreneurs and organization. In this paper, we study how entrepreneurs used organization to deal with the security and sustainability issues stemming from the global economic crisis. Crisis forced managers to undertake various organizational changes that led to a sharp reduction in the number of employees and thus flat organizational structure are the trend among structures. Organization is focused more on designing. One of the newest and fastest growing business trends is the creation of networks and clusters. We conducted research on a sample of 115 foreign and domestic companies running their business in Slovak Republic. We were interested in the perception of lean management, project management and strategic alliances creation during the crisis and in nowadays. We provided an analysis of changes in span of management and managerial level reduction. To analyse the companies, we used descriptive and inductive statistical methods on the lowest possible significance level. Based on our research we found that the optimization of the organizational structure can be the way for helping business companies to overcome economic insecurity in the times of the crisis.
    Keywords: Slovakia,lean management,organization,entrepreneurship,economic crisis,security,organizational structure,sustainability
    Date: 2018–03–30
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-01829654&r=tra
  20. By: Yao Wang (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic); Zdenek Drabek (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic); Zhengwei Wang (Tsinghua University, PBC School of Finance)
    Abstract: Online peer to peer lending (P2P)– allows people who want to borrow money to submit their applications on the platform and individual investors can make bids on the loan listings. The quality of information in credit appraisal becomes paramount in this market. The existing research to assess the role of what is known as soft information in P2P markets has so far been very limited and, inconclusive due to differences in approaches and methodological limitations. The aim of the paper is to discuss the role of soft information channels in predicting defaults in the P2P lending market and to assess the importance of soft information in the Fintech companies’ credit analysis. Using a unique data of the Chinese P2P lending platform RRDai.com and new approach based on sets of hard and soft information, we compare the predicting performance of soft information, hard information and the combined role of both hard and soft information. We show that soft information can provide a valuable input in credit appraisal. The predicting power of soft information in our test was high, and together with hard information it can even help improve the loan performance. In exceptional situations characterized by the absence of hard financial data, soft information could be used, with caution, as an alternative.
    Keywords: Soft Information, P2P Lending, Fintech, Microfinance, Credit Analysis, Empirical Study
    JEL: D82 E51 G02 G14 G21 G23
    Date: 2018–01
    URL: http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_20&r=tra
  21. By: Sulewski, Piotr; Kłoczko-Gajewska, Anna
    Abstract: The discussion on sustainability of development is followed by constant search for its appropriate indicators. If the authors dealing with sustainability in agriculture manage to cover all three its dimensions (economic, environmental, and social), they quite often calculate joint indicator as a simple sum or (sometimes weighted) average of three partial indicators, not paying enough attention to the balance and interdependencies between the partial indicators. The goal of this paper is to measure and assess the interdependencies between partial sustainability indicators. Basing on literature and expert knowledge, the authors prepared 109 questions in order to construct 7 partial indicators of sustainability: correctness of farm management practice (crops), correctness of farm management practice (animals), understanding environmental issues, production potential, economic potential, living conditions of the farmer's family, farmer's psychological comfort. The research was carried out in 600 farms that participate in Polish FADN, based on standard FADN data and additional information based on interviews with farmers. The analysis revealed that the partial correlations between partial indicators was relatively strong and negative, which means that reaching all sustainability goals simultaneously is a difficult issue, as they compete with each other. It is concluded that assessing farm sustainability with the use of simple aggregation of variables is not correct.
    Keywords: Agricultural and Food Policy, Environmental Economics and Policy
    Date: 2018–09–03
    URL: http://d.repec.org/n?u=RePEc:ags:eaa166:276202&r=tra
  22. By: Stephen Ayerst; Loren Brandt; Diego Restuccia
    Abstract: We examine important changes in agriculture in Vietnam in the context of ongoing structural changes in the economy. We use a household-level panel dataset and a quantitative framework to document the extent and consequences of factor misallocation in agriculture during the period between 2006 and 2016. Despite rapid growth in agricultural productivity and a reallocation of factor inputs to more productive farmers, we find that misallocation across farmers remains high and increased during the period. Reallocation of factor inputs has not been strong enough to accommodate substantial changes in farm productivity over time. Our analysis also reveals important differences between the north and south regions.
    Keywords: agriculture, misallocation, Vietnam, productivity, regions.
    JEL: O11 O14 O4 E02 Q1
    Date: 2018–08–22
    URL: http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-615&r=tra
  23. By: Gecaj, Merita; Shahu, Edmira Ozuni; Imami, Drini; Skreli, Engjell; Jambor, Attila
    Abstract: This paper analyses the impact of government subsidy schemes in the Medicinal and Aromatic Plants (MAPs) sector in Albania, applying the Propensity Score Matching Method combined with the “veteran” approach. This is the first time that “veteran” and comparative approach has been applied to research on policy impact assessment in Albania. The paper is based on a structured survey applied in 2015 in the region of Shkodra (northern Albania), the region where MAPs cultivation is concentrated. Results suggest that subsidies affect the planted area and yields but no impact on price (proxy for quality). The paper contributes to the literature not only in terms of the relevant empirical findings but also regarding the benefit of applying combined methods in policy impact assessment.
    Keywords: Agricultural and Food Policy
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:271964&r=tra
  24. By: Braha, Kushtrim; Cupak, Andrej; Qineti, Artan; Pokrivcak, Jan
    Abstract: Study performs food demand analysis in the case of Kosovo. Paper models food consumption behaviour using the HBS data for the period 2005-2012. Along with assessment of the non-parametric Engel curves, here we estimate complete demand system by using Quadratic Almost Ideal Demand System (QUAIDS). Elasticity estimates for five food bundles were amplified with demographic and expenditure controlling variables. Main results reveal that cereals and dairy products are perceived as inferior goods, while the meat, fruits and vegetables are regarded as normal goods. Consistency with the demand theory is affirmed when estimating price and expenditure elasticities. Exception is noticed in the case of cereals, depicting significantly higher own-price elasticity as well as negative expenditure elasticity. Such price sensitivity signals that Kosovo is undergoing transition of the food pattern from the traditional cereal-based diet towards the consumption of the high-value food such as meat and fish. Rising disposable income is found to play prominent role in fostering nutrition transition of the food pattern in Kosovo.
    Keywords: Demand and Price Analysis
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:272050&r=tra
  25. By: Mintchev, Vesselin; Boshnakov, Venelin
    Abstract: This article reviews issues related to re-migration/return of Bulgarian migrants and its sustainability. Information is provided about the scale of re-migration to Bulgaria. An assessment is made of the possibilities of the local labour market to provide incentives for returning from abroad. Based on an empirical sociological survey conducted in 2017 (as part of the project “Return Migrants: Segmentation and Stratification of Economic Mobility” financed by the National Research Fund) categories of return migrants are differentiated based on their plans for the future – whether to stay or to leave Bulgaria again. The profile of the individual categories of return migrants is presented summarizing their socio-demographic characteristics and prior migration experience. Applying a binary logistic regression the social and demographic factors as well as the factors based on migration experience, that induce the attitudes toward staying or moving again, are identified.
    Keywords: Return Migration
    JEL: F22 O15
    Date: 2018–07–30
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:88546&r=tra
  26. By: Tseveenbolor Davaa; David Kiefer; Valeria Szekeres
    Abstract: This paper examines the effects of macroeconomic policy reforms of trade and investment liberalization on gender earnings inequality during the post-transition period using panel data from Hungarian Wage and Earnings Survey and other statistical sources for 21 industrial categories. The results of the econometrics analysis with regression estimations show that while both women and men in foreign-invested enterprises earned more than their counterparts employed in domestically-owned enterprises, women earned less in export-oriented enterprises than in domestic market-oriented enterprises, while men’s earnings are not significantly different in export versus domestic. Also foreign direct investment (FDI) inflows and export orientation contributed to a greater gender earnings difference. While FDI enterprises dominantly contribute to export growth in Hungary, the tests indicate that these two features had independent effects on earnings levels and gaps. These results hold after controlling for human capital variables (average age and education level in industry), industrial segmentation (female share of employment), labor productivity, and the economic cycle (unemployment rates). This study, a first for Hungary, contributes to research of wage gaps in post-transition economies.
    Keywords: Gender earnings inequality, transition economy, economic liberalization, free trade, foreign direct investment JEL Classification: F6, J3, B540
    Date: 2018
    URL: http://d.repec.org/n?u=RePEc:uta:papers:2018_03&r=tra
  27. By: Fradj, Nosra Ben; Rozakis, Stelios; Jayet, Pierre-Alain
    Abstract: This paper aims to assess the future of CAP reforms after 2020 in Poland. We provide a comparative analysis in which the impact of uniform and coupled support scenarios are assessed and compared against alternative environmental regulation measures. An agricultural supply model AROPAj is used to highlight the difference between scenarios. Coupled support for protein and legume crops reduces inequality between farm groups. Although crop diversification increases, no drastic land use change has been noticed, thereby reducing N-fertiliser use and GHG emissions. Results vary according to regions and the type of farming and economic size.
    Keywords: Agricultural and Food Policy
    Date: 2018–04–26
    URL: http://d.repec.org/n?u=RePEc:ags:eaa162:273108&r=tra

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