|
on Transition Economics |
| By: | Konrad Zelazowski |
| Abstract: | Average house prices usually differ across regions. Spatial variation in residential property prices can be attributed to social, economic and historical characteristics of regional marekts. Moreover, existing studies do not provide strong evidence for convergence of house price levels in regional dimension. The lack of price level convergence, however, does not exclude convergence in terms of price dynamics. The paper tries to answer the question whether price trajectories on regional housing markets in Poland show long-term similarity. Using quarterly data covering the period of 2003-2017, the panel unit root testing has been conducted on relative prices across sixteen regional housing markets. |
| Keywords: | Housing Markets; Housing Prices; price convergence |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_278&r=tra |
| By: | Lin, B.; Lin, Z.; Zhang, Y.Y.; Liu, W. |
| Abstract: | This paper evaluates the effect of China’s New Rural Pension Scheme (NRPS) on labor supply of the rural elderly in the forms of both formal labor supply informal labor supply, using data from China Health and Retirement Longitudinal Study (CHARLS). We explore the regional differences of the NRPS effect on labor supply between the West and non-West regions of China. Our analysis shows that western rural China has a more severe problem of “ceaseless toil” compared to the rest of the country. We find that NRPS improves the “ceaseless toil” situation of the Chinese rural elderly but the results show a very different pattern between western China and other part of the country. |
| Keywords: | Community/Rural/Urban Development, Labor and Human Capital |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275997&r=tra |
| By: | Anna Maria Mayda (Department of Economics and SFS, Georgetown University); Rodney D. Ludema (Department of Economics and SFS, Georgetown University); Miaojie Yu (Peking University); Zhi Yu (Shanghai University of Finance and Economics,) |
| Abstract: | This paper explores the political economy of import protection in a setting where imports may contain a country’s own domestic value added (DVA) via domestically-produced inputs that get exported and used in foreign downstream production. We show that domestic upstream and downstream producers are generally allies in favor of protection, but this alliance may weaken as DVA increases, because a home tariff on finished goods decreases foreign demand for home inputs. Empirically, we examine detailed discriminatory trade policies of 27 countries plus the EU toward China and use Chinese transaction-level processing trade data to construct a measure of DVA. We also measure input customization. We find that both upstream and downstream political organization increase downstream protection, but the effect of the former is smaller when inputs are customized and DVA as a share of final imports from China is larger. Tariffs on products containing inputs that are neither customized nor politically organized appear to be unaffected by the DVA share. |
| Keywords: | Trade policy, lobbying, global value chains. |
| JEL: | F10 F13 F14 |
| Date: | 2018–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:geo:guwopa:gueconwpa~18-18-07&r=tra |
| By: | Hua Wang (School of Environment and Natural Resources, Renmin University of China, Beijing, China); Jie He (Département d'économique, École de gestion, Université de Sherbrooke); Desheng Huang (Policy Research Center for Environment and Economy, and Ministry of Ecology and Environment, China) |
| Abstract: | Contingent valuation (CV) studies often adopt public programs in the scenario designs in order to increase credibility and to ensure incentive compatibility. However, such scenario designs can introduce biases in willingness-to-pay (WTP) estimations due to the potential distrusts of respondents in the governments who are responsible for implementing the public programs. In this study, a joint selection modeling strategy, which accommodates both valuation protests and WTP adjustments, is developed for identification and calibration of the potential biases in WTP estimations caused by the public distrust in government. The joint selection model of WTP with public distrust in government is applied to two CV studies conducted in China on air quality improvements. Both channels through which public distrust in government can affect WTP estimation, valuation protest and WTP adjustment, are empirically identified, and the potential biases in WTP estimation caused by the public distrust in government can be as high as 20%. |
| Keywords: | public distrust, contingent valuation, protest, selection bias, WTP determination. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:shr:wpaper:18-05&r=tra |
| By: | Radostina Popova (University of Forestry) |
| Abstract: | The paper attempts to characterize the performance and problems in Forest Industry in Republic of Bulgaria. It contains general characteristic like technological and economic characteristics of the Forest Industry in Bulgaria, technological operations and wood processes, trends of the furniture in EU as a main final product in the Forest Industry. It presents the largest enterprises and the biggest foreign suppliers also and countries for export and import. The paper also presents the performance of the Forest industry enterprises in Bulgaria in strategical management areas like quality, ICT, financing, marketing, internet, internationalization and innovations.The methods applied include statistical analyses of production, value added and employee, expert assessments as well as generalization survey's results from a focus group of managers of Forest industry SMEs, provided in 2016. Some recommendations are drawn in areas of strategic management (technologies and information, innovation cooperation) and in areas of production and operations management. |
| Keywords: | Forest Industry; Wood processes; Woodworking; Furniture manufacturing; Strategic management; Production management; Innovation cooperation. |
| JEL: | L68 L73 M11 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:7208885&r=tra |
| By: | Anna Maria Mayda (Department of Economics and SFS, Georgetown University); Giovanni Facchini (University of Nottingham); Maggie Y. Liu (Smith College); Minghai Zhou (University of Nottingham, Ningbo China) |
| Abstract: | We analyze the effect of China’s integration into the world economy on workers in the country and show that one important channel of impact has been internal migration. Specifically, we study the changes in internal migration rates triggered by the reduction in trade policy uncertainty faced by Chinese exporters in the U.S. This reduction is characterized by plausibly exogenous variation across sectors, which we use to construct a local measure of treatment, at the level of a Chinese prefecture, following Bartik (1991). This allows us to estimate a difference-in-difference empirical specification based on variation across Chinese prefectures before and after 2001. We find that prefectures facing the average decline in trade policy uncertainty experience an 18 percent increase in their internal in-migration rate – this result is driven by migrants who are “non-hukou”, skilled, and in their prime working age. Finally, in those prefectures, working hours of “native” unskilled workers significantly increase – while the employment rates of neither native workers nor internal migrants change. |
| Keywords: | hukou, immigration, internal migration, trade policy uncertainty |
| JEL: | F22 J61 O15 |
| Date: | 2018–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:geo:guwopa:gueconwpa~18-18-06&r=tra |
| By: | Vincent Chatellier; Thierry Pouch; Cécile Le Roy; Quentin Mathieu |
| Abstract: | [paper in French] Russia has been for many years an important outlet for the European Union (EU) in the agri-food sector. Following the break-up of the Union of Soviet Socialist Republics (USSR) in 1991, Russian agriculture, which until then had been dominated by sovkhozes and kolkhozes, had suffered a drastic fall in domestic production, in particular in animal production. Over the past fifteen years, and due to a policy encouraging investment in agriculture, especially in agro-industrial complexes where the integration model prevails, agricultural production progressed rapidly, at least in certain sectors, including cereals, poultry meat and pork. This development of domestic supply and the diversification of supplier countries (including the United States, Brazil, etc.) had, even before the embargo imposed since August 2014, led to a substantial loss of European exports to Russia. Since the embargo was effective, Russia is no longer a privileged partner for European animal productions. Thanks to the growth of imports in several Asian countries, especially in China, several European animal sectors have nevertheless managed, despite the closure of the Russian market, to increase their exports. This paper deals, first of all, with the main stages of the Russian agricultural and trade policy, the development of agricultural production in this country, and the implementation of the embargo. Using customs statistics data (from BACI and COMEXT databases) over the period 2000 to 2016, it then discusses the evolution of trade flows following the implementation of the embargo, with particular emphasis on Russia's bilateral relations with the EU in four animal sectors: milk and milk products, beef and veal, poultry meat, and pork. |
| Keywords: | Russie, embargo, compétitivité, échanges commerciaux, productions animales |
| JEL: | Q13 Q17 F13 F14 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:rae:wpaper:201806&r=tra |
| By: | Wang, S.L.; Huang, J.; Wang, X.; Tuan, F. |
| Abstract: | In this study, we use a multilateral total factor productivity (TFP) panel data, spanning 1985-2013 period, to test hypotheses of convergence to a single TFP level (σ convergence) and 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 0.039. 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: | Agricultural and Food Policy, International Development |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276051&r=tra |
| By: | Jia Xin Xu (Liaoning Technical University [Huludao]); Naiwen Li (Liaoning Technical University [Huludao]); Muhammad Ishfaq Ahmad (University of Lahore) |
| Abstract: | This study aims to investigate the comparative performance of the banks of the china and Pakistan, as both countries have very strong business relationships apart from the strategic relationships. The recent investment contracts between two countries " One Belt One road " worth $54 billion motive me to do examine the comparative performance of Chinese and Pakistani banks as banks do have vital role in this regard. To give first sight understanding of the objectives of the study, I choose the title which explains the objectives of the study clearly as starting with the comparative study of the banking performance of both countries. As the banks play a magnificent role in an economy for the smooth as well as efficient functioning of the different activities of the society. The importance of the banking could be realized by taking the example of the blood in human body as banks provides blood to the economy of any country. Due to their important role, it is strong need to keep banking sector healthy and stable which is not possible without the continuous focus on it. Recent economic crunch has highlighted that a well-established financial system is the basic ingredient for the economic growth. So it is very important to know what factors derive the performance of the banks. This study main focus is to identifying the factors determining the profitability of the Chinese and Pakistani banking sector. China becomes the economic hub for rest of the world and Chinese banking is also growing significantly. The importance of the Chinese banks could be realized that four Chinese banks are ranked among the top big firms of the world. The study used the Chinese and Pakistani banking sector sample which includes all kinds of banks over the time span of 2010 to 2017. The Chinese banking sample consists of forty four banks while Pakistani banks sample consists of twenty one banks. We observed that Chinese banking profitability which is measured through the Return on Assets (ROA) and Return on Equity (ROE), is positively influenced by the net interest income, deposits, Capital adequacy ratio and GDP growth while non-performing loans are significantly contribute to the performance of the Chinese banking. This relationship exist the same in the Pakistani banking industry. Moreover we found that Chinese banks are performing better than the Pakistani banks because of their big size, higher growth in GDP and due to the government ownership. Furthermore I also conclude this is the golden time for the Chinese banks to go across the border to gain the lucrative opportunity in the Pakistan as the Gawader Seaport is managed by the Chinese government to channel their trade to the Europe. By doing so they cannot only increase their Chinese market share but international market share. Moreover we found that Chinese listed banks perform much better than the unlisted banks of china. Although some unlisted banks perform nicely but overall listed banks produced sound results. Through getting listed and managing the financial resources, they can do cross border business either by mergers, joint ventures or acquisition to overcome the cultural issues. In the case of Pakistan, we observed that foreign banks beat both the domestic private banks and state owned banks. We ranked domestic private banks at number two and state banks performed poorly in case of Pakistan. In the Comparison of Chinese and Pakistani bank, Chinese banks are better than Pakistani banks the factors for the performance react in the same way. |
| Keywords: | GDP,Listed banks,Banks' performance,Return on Equity (ROE),Non-performing loans |
| Date: | 2018–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01858559&r=tra |
| By: | Jerzy Michalek (Independent researcher); Pavel Ciaian (European Commission - JRC); Jan Pokrivcak (Faculty of Economics and Management, Slovak University of Agriculture) |
| Abstract: | This report estimates the farm level impact of producer organizations’ (PO) membership in Slovakia and the effectiveness of support provided to POs under the EU Rural Development Programme (RDP). We employ the PSM-DID econometric approach on a database of large Slovak commercial farms for 2006 and 2015. Our results show that belonging to a PO improves the economic performance of farms in Slovakia. In the short-run the support granted under RDP 2007-2013 to newly established PO does not improve the farm performance; only established and older POs (and potentially supported in the past) generate benefits to their members. Third, the estimates provide indirect evidence that the disbursement of PO support granted in the financial period 2007-2013 was rather ineffective in selecting POs with the highest potential to generate benefits to its members. Our analysis confirms that many POs were created for the sole purpose just to benefit from the support. This result is reinforced by the observed high closure rate of supported POs. |
| Keywords: | Food chain, producer organisations, commercial farms, RDP support, farm performance, Slovakia, EU |
| JEL: | Q12 Q13 |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc108059&r=tra |
| By: | Iwasaki, Ichiro; Kim, Byung-Yeon |
| Abstract: | In this paper, we trace the survival status of more than 110,000 Russian firms in the years of 2007–2015 and examine the determinants of firm survival across periods of economic crisis and growth. Applying the Cox proportional hazards model, we find that the effects of some variables regarded as key determinants of firm survival are not always robust across business cycles. Among the variables that constantly affect firm survival across business cycles and industries, concentration of ownership, the number of board directors and auditors, firm age, and business network are included. By contrast, the effects of some ownership-related variables on firm survival vary depending on the nature of economic recessions such as a global crisis and a local one. There is also evidence that an international audit firm increases the probability of firm survival; however, gaps in the quality between international audit firms and those from Russia decrease over time. These findings suggest that one should not make hasty generalizations regarding the determinants of firm survival by looking at a specific economic period or industry. |
| Keywords: | Firm failure, Economic crises and growth, Cox proportional hazards model, Russia |
| JEL: | D22 G01 G33 G34 P34 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:hit:rrcwps:76&r=tra |
| By: | He, Yong |
| Abstract: | With a panel sample of more than 3000 rural Chinese households surveyed over 21 years, this study estimates the evolution of relative roles of social status and human capital in the intrahousehold division of labor under the context of a rapid market development. With the guidance of a theoretical framework, it is found that: 1) market development enhanced the status of women, and changed the traditional rule of “women indoors and men outdoors”; 2) market development allocated more young labor to outward wage-earning jobs and left a higher share of the elderly and juvenile in land-based semi-market activities and chores, indicating an increasing importance of human capital over family status; 3) market enlargement relaxed the entrance requirements for labor market in terms of education level, age and height. |
| Keywords: | intrahousehold division of labor, human capital, rural China, family status, market development, chores. |
| JEL: | D13 J22 O12 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88644&r=tra |
| By: | Gluschenko, Konstantin |
| Abstract: | This paper analyzes integration of 13 regions constituting Siberia with all country’s regions. The criterion of market integration is the law of one price. The data analyzed are time series of the cost of the staples basket over 2001–2015. Pairs of regional markets are divided into four groups: perfectly integrated, conditionally integrated, not integrated but tending towards integration (converging), and neither integrated nor converging. |
| Keywords: | market integration; law of one price; price convergence; nonlinear trend; Russian regions |
| JEL: | C32 L81 P22 R15 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88920&r=tra |
| By: | Oleksandr Faryna (National Bank of Ukraine); Heli Simola (Institute for Economies in Transition BOFIT, Bank of Finland) |
| Abstract: | This paper employs a Global Vector Auto Regressive (GVAR) model to study the evolution of the response of the Commonwealth of Independent States (CIS) to foreign output and oil price shocks. During a two-decade observation period, cross-country trade and financial linkages experience notable changes. We find CIS countries highly sensitive to global and regional shocks, with that sensitivity increasing after the global financial crisis. CIS countries show strongest responses to output shocks originating in the US, Russia and within the region itself, but their sensitivity to euro area shocks also increases substantially. Despite growing trade relations with China, the responses of CIS countries to output shocks originating in China are still relatively moderate. |
| Keywords: | international shocks, cross-country spillovers, CIS, Global VAR |
| JEL: | C32 F42 F43 E32 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:ukb:wpaper:04/2018&r=tra |
| By: | Francesca Checchinato (Dept. of Management, Università Ca' Foscari Venice); Lala Hu (Dept. of Management, Università Ca' Foscari Venice) |
| Abstract: | Since Internet has been seen as global, few studies have examined the influence of the context in the digital marketing strategies. This paper wants to contribute on the debate about standardization-adaptation, focusing on the digital strategies, defining how companies adapt them to the Chinese market identifying the drivers that call for this adaptation. China is selected because it is a contradictory market: more advanced than the Western one but also with many restrictions. We carry out a qualitative research based on interviews with nine key informants operating in the digital Chinese market with different roles. Our findings suggest that there are drivers that force companies to create an online presence and drivers that impact the digital localization. The main adaptations concern international distribution strategy and communication related to contents and media as well as organization. |
| Keywords: | China, digital marketing, e-commerce, internationalization, Internet. |
| JEL: | M31 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:vnm:wpdman:160&r=tra |
| By: | Fischer, Andreas M; Saure, Philip |
| Abstract: | In a highly influential study, Autor, Dorn and Hanson (2013) analyze the effect of Chinese exports on the U.S. labor market. To identify causality, Chinese exports to the United States are instrumented with Chinese exports to other advanced economies, an identification strategy that relies on the absence of common demand shocks to all advanced economies. Our paper questions this identification assumption. We document that in the period between 1991 and 2007, sector-level exports from China grew parallel to those from other emerging market economies. This positive correlation is stronger for countries with a comparative advantage close to China's. We argue that these patterns are inconsistent with the view that China-speci c supply shocks dominated China's export growth. Adjusting the identification strategy in ADH, we find that the qualitative results from ADH survive but are smaller in magnitude. |
| Keywords: | employment; Instrumental Variable; International Trade |
| JEL: | F10 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13122&r=tra |
| By: | Gooch, Elizabeth; Gale, Fred |
| Abstract: | Chinese companies are increasing their investments in foreign agricultural and food assets. Their broad aims are to gain profits for Chinese investors while achieving national food security and projecting China’s influence abroad. While the United States is the largest supplier of China’s agricultural imports, it has not been a major target of Chinese agricultural investment. Chinese investors tend to enter less-developed countries where there are few competitors, potential to raise productivity using Chinese technology, and potential to diversify suppliers of Chinese imports. A few companies with access to financing from Chinese banks are pursuing mergers, acquisitions, and partnerships with companies in more developed markets. These investments reflect changes in China’s demand for food and its need for upgrades in technology and management, but most ventures have modest impacts on agricultural trade. |
| Keywords: | Financial Economics |
| URL: | http://d.repec.org/n?u=RePEc:ags:uersib:276237&r=tra |
| By: | Yulia V. Ragulina (Federal State Budgetary Scientific Institution "Federal Research Center of Agrarian Economy and Social Development of Rural Areas – All Russian Research Institute of Agricultural Economics"); Elena I. Semenova (Federal State Budgetary Scientific Institution "Federal Research Center of Agrarian Economy and Social Development of Rural Areas – All Russian Research Institute of Agricultural Economics"); Irina A. Zueva (Moscow Witte University); Elena V. Kletskova (Altai State University); Elena N. Belkina (Kuban State Agrarian University) |
| Abstract: | The purpose of the work is to determine the key problems of regional development in modern Russia and to substantiate the perspectives and model the process of their solving with the help of new Internet technologies. For full coverage of the problems of regional development in modern Russia, they are analyzed from the positions of public perception and level of dynamics of the statistical data that characterize these problems. At that, the methods of logical and statistical analysis are used. The information and analytical basis of the research includes the materials of the All-Russian Public Opinion Research Center, Federal State Statistics Service of the Russian Federation, and independence expert and analytical organization RIA Ranking for 2014-2017. As a result, the authors substantiate that implementation of new Internet technologies is a perspective means of solving the problems of regional development in modern Russia. These problems concern optimality of interaction of non-government economic subjects (society and entrepreneurship) between each other, which leads to low business activity, complexity of employment, and low income, and non-optimality of interaction between non-government economic subjects and the state, which leads to inaccessibility and low quality of state services and public benefits, including healthcare, communal and housing sphere, infrastructure, etc. Implementation of new Internet technologies into entrepreneurship allows reducing its capital intensity, increasing business activity, simplifying the process of employment, and increasing accessibility (reduce cost) of goods and services for the population. Due to implementation of new Internet technologies into activities of state organizations, which provide state services and public benefits, their controllability and manageability by society is achieved – which stimulates increase of their quality and accessibility. A proprietary model of solving the problems of regional development in modern Russia with the help of new Internet technologies is developed. |
| Keywords: | sustainable entrepreneurship,modern Russia,problems of regional development,Internet technologies |
| Date: | 2018–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01858552&r=tra |
| By: | Angelika Kallakmaa-Kapsta |
| Abstract: | Ten years after housing boom in Estonia the housing market has been restored. Comparing to 1997 the average notarized purchase-sale price has raised 2.3 times by 2016. It is again the question about the price level. One problem in housing market is concern about affordability issues, but there is also another aspect, that has not been paid enough attention. The proportion of older people is growing. According to the Statistics Estonia share of persons at pension age (65 years and older) has been grown from 12 % of population in early 90s to 19 % in 2017. People live increasingly longer and it is to be expected that the number and share of older people increases. The availability of comfort characteristics in the dwellings inhabited by households has improved significantly. During the lifetime the living space per person generally increases, but people may lose some of their functional abilities which may create a need for a different type of dwelling.This article seeks answers how to define the impact of an ageing population to the housing market in Estonia. |
| Keywords: | ageing; Estonia; Housing Market; Housing Policy |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_219&r=tra |
| By: | Tokunaga, Masahiro; Suganuma, Keiko; Odagiri, Nami |
| Abstract: | In this paper, we demonstrate the trends and prospects of Japanese foreign direct investment (FDI) in European Emerging Markets (EEMs) against the background of the recent development of emerging markets and explore the specificities of the Russian market, the biggest EEM in terms of market size and inward FDI received. More specifically, we give an overview of foreign capital flows from Japan to major EEMs and describe the achievements and problems of Japanese investors as related to business with Russia. We find that the Russian market seems to be a lucrative option for Japanese firms, despite unfavorable investment conditions and limited institutional freedom afforded to outsiders, including a language barrier due to the wide usage of Russian in the business field. Although use of the Russian language is one of major business obstacles affecting foreign investors, making matters more challenging in the country, it nonetheless provides us with a common language as a hub of business operations in the former Soviet Union countries or “Russosphere,” where Russia has still economic leverage and maintains cultural domination |
| Keywords: | foreign direct investment (FDI), European Emerging Markets (EEMs), business language, Russia, Russosphere |
| JEL: | F2 P2 P3 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:hit:rrcwps:77&r=tra |
| By: | Liu, Y. |
| Abstract: | This paper examines the impact of agricultural cooperatives working as a marketing channel, and the determinant of members’ decision to sell products through agricultural based on household-level data of agricultural cooperatives members from poor rural areas in Sichuan province, in China. Employing different treatment effect estimators, i.e. PSM and IPWRA, we find that selling products through agricultural cooperatives has a positive and statistically significant effect on both farmers’ annual total household income and farm income. It was also found that the effect on farm income (around 180%) is higher than annual total household income (around 20%). Comparing the difference between ATTs and ATEs, we could suggest that the efficiency of agricultural cooperatives can be improved by encouraging non-sellers to sell products through agricultural cooperatives, which is possible to do according to the results of a probit model. Following empirical results obtained using the probit model, we conclude that farm size, farming machine, distance to market, credit constraint, sale condition, motivation to participate in agricultural cooperatives and the knowledge of agricultural cooperatives positively and significant influence the probability of a member selling products through agricultural cooperatives, while the market information ownership shows a negative significant effect on the choice. |
| Keywords: | Agricultural and Food Policy, International Development, Marketing |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275898&r=tra |
| By: | Viet-Ha T. Nguyen; Hong Kong Nguyen-To; Thu Trang Vuong; Manh Tung Ho; Quan-Hoang Vuong |
| Abstract: | Vietnam has seen fast-rising debts, both domestic and external, in recent years. This paperreviews the literature on credit market in Vietnam, providing an up-to-date take on the domesticlending and borrowing landscape. The study highlights the strong demand for credit in both therural and urban areas, the ubiquity of informal lenders, the recent popularity of consumer financecompanies, as well as the government’s attempts to rein in its swelling public debt. Given thehigh level of borrowing, which is fueled by consumerism and geopolitics, it is inevitable that theamount of debt will soon be higher than the saving of the borrowers. Unlike the conventionalwisdom that creditors have more bargaining power over the borrowers, we suggest that—albeitlacking a quantitative estimation—when the debts pile up so high that the borrowers could notrepay, the power dynamics may reverse. In this new politics of debt, the lenders fear to lose themoney’s worth and continue to lend and feed the insolvent debtors. The result is a toxic lending/borrowing market and profound lessons, from which the developing world could learn. |
| Keywords: | debt; credit; financial system; Vietnam; consumerism; geopolitics; political economy; government finance |
| JEL: | E26 E44 E51 F34 H63 |
| Date: | 2018–08–20 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/276130&r=tra |
| By: | Yiming Cao; Raymond Fisman; Hui Lin; Yongxiang Wang |
| Abstract: | We study the consequences of month-end lending incentives for Chinese bank managers. Using data from two banks, one state-owned and the other partially privatized, we show a clear increase in lending in the final days of each month, a result of both more loan issuance and higher value per loan. We estimate that daily end-of-month lending is 95 percent higher in the last 5 days of each month as a result of loan targets, with only a small amount plausibly attributable to shifting loans forward from the following month. End-of-month loans are 2.1 percentage points (more than 16 percent) more likely to be classified as bad in the years following issuance; a back-of-the-envelope calculation suggests that the incremental loans made in order to hit targets are 26 percent more likely to eventually turn bad. Our work highlights the distortionary effects of target-setting on capital allocation, in a context in which such concerns have risen to particular prominence in recent years. |
| JEL: | G21 M52 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24961&r=tra |
| By: | Dai, R.; Mookherjee, D.; Munshi, K.; Zhang, X. |
| Abstract: | This paper identifies and quantifies the role played by birth-county-based community networks in the growth of private enterprise in China. We develop a network-based model that generates predictions for the dynamics of firm entry, concentration, and firm size across birth counties with varying social connectedness (measured by population density). These predictions are verified over the 1990-2009 period with administrative data covering the universe of registered firms. Competing non-network-based explanations can explain some, but not all, of the results. Moreover, supplementary evidence indicates that network spillovers occur within the birth county and, going down even further, within clans within the county. Having validated the model, we estimate its structural parameters and conduct counter-factual simulations, which estimate that entry over the 1995-2004 period would have been 40% lower (with a comparable decline in the stock of capital) in the absence of community networks. Additional counter-factual simulations shed light on misallocation and industrial policy in economies where networks are active. |
| Keywords: | Community Networks, Entrepreneurship, Misallocation, Institutions, Growth and Development. |
| JEL: | J12 J16 D31 I3 |
| Date: | 2018–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1850&r=tra |
| By: | Nino Injgia (Iv. Javakhishvili Tbilisi State University) |
| Abstract: | Migration is associated with adaptation problems and has a great impact on migrated people?s identity and quality of life. This case study explains how adaptation process is related to social identity transformation among eco-migrants settled in Tsalka, Georgia. Tsalka is a town in eastern Georgia with a multi-ethnic population (Georgians, Armenians, Greeks, and Azerbaijanis). It has been a location where eco-migrants from mountain regions of Georgia rushed into and settled in 1997-2006. 32 eco-migrants from 20 households participated in in-depth interviews. The results showed that there are two types of eco-migrants: with state shelter and private accomodation. Besides that initial ethnic conflicts between eco-migrants and host inhabitants ended up having a positive impact on the adaptation process. Eco-migrants who have the private property and stable jobs have a better chance for adaptation and in general, they described themselves as satisfied in their lives. Overall, the present study suggests that well-adapted eco-migrants have multiple identities, they perceive themselves as a part of a new community and at the same time, they can?t forget their old ??roots??, as they say, which is related to their welfare. |
| Keywords: | Migration, eco-migration, Georgian eco-migrants, social identity, adaptation, identity transformation, adaptation strategies. |
| JEL: | I31 J68 N90 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:6409393&r=tra |
| By: | Revoredo-Giha, C.; Klepacka, A.M.; Florkowski, W.J. |
| Abstract: | This paper analyzes prices of two important food products of consumers in Poland, namely butter and curd to establish market integration of these two very different products and the recent large increase of butter prices. Poland is the fourht largest milk producer in the European Union and a butter exporter. The analysis focusos on two major milk producing regions. The analysis uses series of weekly butter and curd prices for each region for the period from January 5, 2014 to November 5, 2017. Addtionally, an indicator of the phasing of the EU milk quota system is included in the analysis. The modeling approach verifies the presence of "one price" by testing the series for stationarity and cointegration confirming the latter. Ultimately, the analysis uses the Vector Error Correction model and the first-differences of observations confirming very strong spatial integratoin of the two regional market. Interestingly, the markets for both butter and curd in two regions remaind strongly integrated although butter is subject to inetrnational trade, wheres curd is exclusively sold on the dmoestic market and its prices remaind mostly unaffected by the butter prices fluctuations. |
| Keywords: | Food Consumption/Nutrition/Food Safety, International Relations/Trade |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275884&r=tra |
| By: | Chtcheva, Iuliia; Mahmudov, Telman; Podzorova, Marina |
| Abstract: | The article offers a comprehensive approach to the analysis of agriculture at the meso level. This approach envisages implementation of two main stages: the classification of areas into several homogeneous groups and limiting the analysis of the factors determining the membership of an area to a certain class. The first stage envisages the construction of classification regression, and the second - the construction of the logit model multiple choice. This comprehensive approach increases the reliability of the analysis results, thereby contributing to strengthening the grounding of its results-based. The technique has been tested on data characterizing agriculture Tula region. |
| Keywords: | classification, regression analysis, analysis of the factors limiting agriculture, Tula region |
| JEL: | C15 Q1 |
| Date: | 2018–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88657&r=tra |
| By: | Genova, C.; Umberger, W.; Peralta, A.; Newman, S. |
| Abstract: | This paper examines the empirical link between smallholder vegetable production and the dietary diversity of children aged 0.5 to 17 years at the household level through: vegetable diversity, market engagement, and gender-related factors. We use Child Dietary Diversity Score (CDDS) as measure of children’s diets. We find that market access and market participation can significantly improve CDDS, especially for older boys >5 to 17 years. For children under five years, improving the nutritional knowledge of the food preparer, promoting market linkage to increase income, and implementing intervention targeted on the low-lying and low vegetable per capita density areas can improve diet quality. |
| Keywords: | Agricultural and Food Policy, Food Consumption/Nutrition/Food Safety, International Development |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276033&r=tra |