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on Transition Economics |
| By: | 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); Tomas Havranek (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: | The paper focuses on the estimation of the effective lower bound for the Czech National Bank’s policy rate. The effective lower bound is determined by the value below which holding and using cash would be preferable to deposits with negative yields. This bound is approximated based on storage, insurance and transportation costs of cash and the loss of convenience associated with cashless payments and complemented with the estimate based on interest charges which present direct costs to the bank profitability. Overall we get a mean value slightly below -1%, approxi- mately in the interval (-2.0%, -0.4%). In addition, by means of a vector autoregression we show that the potential of negative rates would not be sufficient to deliver monetary policy easing similar in its effects to the impact of the Czech National Bank’s exchange rate commitment during the years 2013–2017. |
| Keywords: | effective lower bound, zero lower bound, negative interest rates, costs of cash, transmission of monetary policy |
| JEL: | E58 E43 E44 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2018_22&r=tra |
| By: | Georgi N. Todorov (Varna Scientific Institute of the Eastern European Commonwealth); Anna V. Kalinina (Tyumen Industrial University); Anna I. Rybakova (Russian State Social University) |
| Abstract: | Labour migration is one of the most important socioeconomic development indicators. The problem of a steady decline in the working-age population size has changed a role of migration that has an active impact on the human potential development. With the help of an empirical example from the Eurasian Economic Union (EEU), this research paper presents specifics of labour migration. A review of literary sources points out to an ambiguous impact of a number of factors on dynamics of migration flows, employment, and unemployment. Correlation-regression modelling of migration processes for the EEU in various configurations has resulted with the following. First, a revealed direct relationship between a natural growth (decline) in the population, a number of vacant jobs and the population migration indicator. Second, researchers have established an inverse dependence between GDP per capita, consumer price index, minimum wage, unemployment rate, and population migration indicator. Thirdly, they have shown that a direction of migrant flows depends on such factors, as GDP per capita, number of vacant jobs and minimum wage. Results of the analysis show that an increasing difference between an average wage in the region and across the EEU, and minimum standard of living leads to decreasing numbers of migrants from a particular region of the EEU. In the EEU, for the population main reasons for employment abroad include unemployment in rural areas, no regular income, and lower wages compared to neighbouring countries. The discussion explains an essence of contradictory consequences of the labour migration impact on a development of national economic systems in terms of the completed academic and empirical research. In this regard, it is reasonable to consider labour migration as a global economic phenomenon and this needs further research in terms of factors that influence it. |
| Keywords: | migration factors,entrepreneurship ecosystem,labour migration,Eurasian Economic Union (EEU), employment,labour remuneration,migration flows |
| Date: | 2018–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01859326&r=tra |
| By: | Cristina Jude |
| Abstract: | The aim of this paper is to empirically investigate the relationship between FDI and domestic investment in a sample of 10 Central and Eastern European countries over the period 1995-2015. We find FDI to lead to a creative destruction phenomenon, with a short-term crowding out effect on domestic investment, followed by a long-term crowding in. Greenfield FDI develops stronger long run complementarities with domestic investment, while mergers and acquisitions do not show a significant effect on domestic investment. Financial development seems to mitigate crowding out pressures and even foster a crowding in for mergers and acquisitions. |
| Keywords: | investment, FDI, crowding-out, economic transition, financial development. |
| JEL: | E22 F21 F43 O52 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:695&r=tra |
| By: | He, Yong |
| Abstract: | With the guidance of a new institutional framework, the theoretical modelling establishes the necessary and sufficient conditions for institutional change to occur in authoritarian regimes: first, external chocks must be strong, much stronger than in a democratic regime; second, the chocks must be of such a kind that gives rise to factional competition within the ruling group. It predicts that involvement by the ruled group brings about more extensive institutional change than that merely driven by the ruling group. The theory is then applied to explain rural China’s market transition. As institutional change defines pay-off structure, the extent of this change is approximated by the income advantage of cadre households relative to non-cadre households. Econometric tests based on a Chinese rural household panel data of 21 years confirm the theoretical prediction. |
| Keywords: | Institutional change, authoritarian regime, political returns, market transition, new institutional economics, Chinese rural cadre. |
| JEL: | B52 P20 R20 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88666&r=tra |
| By: | Wang, S.L.; Hong, C.; Liefert, W. |
| Abstract: | Using disaggregated data describing trade between China and the rest of the world over the period of 2002-2015, this paper estimates the impacts of changes in China’s real exchange rate and income growth on Chinese agricultural imports. We find that exchange rate and income matters for Chinese agricultural imports over all. A 10 percent annual appreciation of the RMB is found to raise China’s total agricultural imports by about 0.4 percent, and a 10 percent real GDP growth will raises these imports by 7 percent. We further estimate these effects to subcategories of bulk, intermediate, and consumer-ready goods, as well as individual agricultural products. There is much variation in response across different agricultural product groups as well as individual products. We tend to get expected signs for elasticities for non-strategically important products that do not conflict with China’s self-sufficiency policies and are in short-supply. Government interventions in the markets mitigate the impact of exchange rate fluctuation on these products. |
| Keywords: | Agricultural Finance, International Relations/Trade |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275979&r=tra |
| By: | Xi Zhang; Yixuan Li; Senzhang Wang; Binxing Fang; Philip S. Yu |
| Abstract: | Traditional stock market prediction methods commonly only utilize the historical trading data, ignoring the fact that stock market fluctuations can be impacted by various other information sources such as stock related events. Although some recent works propose event-driven prediction approaches by considering the event data, how to leverage the joint impacts of multiple data sources still remains an open research problem. In this work, we study how to explore multiple data sources to improve the performance of the stock prediction. We introduce an Extended Coupled Hidden Markov Model incorporating the news events with the historical trading data. To address the data sparsity issue of news events for each single stock, we further study the fluctuation correlations between the stocks and incorporate the correlations into the model to facilitate the prediction task. Evaluations on China A-share market data in 2016 show the superior performance of our model against previous methods. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1809.00306&r=tra |
| By: | Chatellier, Vincent; Pouch, Thierry; Le Roy, Cécile; Mathieu, Quentin |
| Abstract: | 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: | International Relations/Trade |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ags:inrasl:276471&r=tra |
| By: | Hsu, Wen-Tai (School of Economics, Singapore Management University); Lu, Yi (Tsinghua University); Luo, Xuan (INSEAD); Zhu, Lianming (Osaka University) |
| Abstract: | This paper studies the effect of foreign direct investment (FDI) on industrial agglomeration. Using the differential effects of FDI deregulation in 2002 in China on different industries, we find that FDI actually affects industrial agglomeration negatively. This result is somewhat counter-intuitive, as the conventional wisdom tends to suggest that FDI attracts domestic firms to cluster for various agglomeration benefits, in particular technology spillovers. To reconcile our empirical findings and the conventional wisdom, we develop a theory of FDI and agglomeration based on two counter-veiling forces. Technology diffusion from FDI attracts domestic firms to cluster, but fiercer competition drives firms away. Which force dominates depends on the scale of the economy. When the economy is sufficiently large, FDI discourages agglomeration. We find various evidence on this competition mechanism. |
| Keywords: | Industrial agglomeration; Ellison-Glaeser index; Competition; Foreign direct investment; Special economic zones; WTO; China |
| Date: | 2018–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:ris:smuesw:2018_016&r=tra |
| By: | Dinghai Xu (Department of Economics, University of Waterloo); Jingru Ji (Department of Finance, East China University of Science and Technology); Donghua Wang (Department of Finance, East China University of Science and Technology) |
| Abstract: | This paper focuses on investigating financial returns' extreme risks, which are defined as the negative log-returns over a certain threshold. A simple agent-based model is constructed to explain the behavior of the market traders when extreme risks occur. We consider both the volatility clustering and the heavy tail characteristics when constructing the model. Empirical study uses the China securities index 300 daily level data and applies the method of simulated moments to estimate the model parameters. The stationarity and ergodicity tests provide evidence that the proposed model is good for estimation and prediction. The goodness-of-fit measures show that our proposed model fits the empirical data well. Our estimated model performs well in out-of-sample Value-at-Risk prediction, which contributes to the risk management. |
| JEL: | C15 C52 G15 |
| Date: | 2018–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:wat:wpaper:1806&r=tra |
| By: | Matthieu Crozet; Laura Hering; Sandra Poncet |
| Abstract: | China's increased export capacity in recent decades has disrupted developed-country labor markets and the well-being of workers exposed to foreign competition. We here attempt to complete the assessment of the social and human consequences of globalization by exploring the other side of this "China syndrome". We evaluate the extent to which increased export opportunities have influenced well-being in China using panel data on approximately 25,000 adults across 122 Chinese localities in 2010, 2012 and 2014. The results show that perceived life satisfaction rises significantly as local export markets grow. This effect goes beyond higher local GDP per capita and individual incomes. |
| Keywords: | Happiness;Well-being;Globalization;China |
| JEL: | I31 J28 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2018-14&r=tra |
| By: | Karoly Miklos Kiss (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences and University of Pannonia, Veszprem); Laszlo Lorincz (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences and Corvinus University of Budapest); Zsolt Csafordi (Erasmus University Rotterdam); Balazs Lengyel (Agglomeration and Social Networks Lendület Research Group Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences and International Business School Budapest) |
| Abstract: | How does technological relatedness influence the portfolio of multi-product firms hit by external shocks? To answer this question, we look at the effect of product-specific demand shocks on product portfolios of Hungarian firms in the 2005-2012 period. We find that production have become more cohesive in terms of technological relatedness if firms were exposed to demand shocks. Evidence suggests that firms in crisis drop or downsize additional products not related to their core product and concentrate resources on related products. |
| Keywords: | product diversification, technological relatedness, industry space network, dynamics of product portfolio, crisis |
| JEL: | C23 D22 D24 L25 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:1823&r=tra |
| By: | Ludmila Orlova (Samara State Technical University); Galina Gagarinskaya (Samara State Technical University); Yuliya Gorbunova (Samara State Technical University); Olga Kalmykova (Samara State Technical University) |
| Abstract: | The article considers the factors influencing regional development on the part of start-ups, shows a cognitive model of such impact, and gives an analysis of scenario modeling in the Samara Region. The research results are aimed at creating favorable conditions for ensuring the progressive development of a single region and the entire Russian economy. To implement the goal, studies were carried out in the form of an expert survey aimed at assessing the impact of start-ups on regional development. The study included methods of systemic analysis, economic statistics, methods of sociological expert survey, a method of statistical data analysis, a method of qualitative peer review, and a method of cognitive modeling. The article presents the results of scientific research aimed at identifying the mutual influence of the basic factors of regional development and start-ups as an important element of the socioeconomic system. The works of many scholars are devoted to the analysis and research of the problem of innovative entrepreneurship. They reveal the aspects of studying innovative entrepreneurship in the context of improving the effectiveness of innovative activity and motivating entrepreneurship. This study highlights the importance of start-ups for the formation and development of effective regional innovation systems and actualizes investigations related to identifying the main directions in the activities of the region's start-ups. A comparative analysis of the scenarios was carried out and the most effective of them were determined for the Samara Region. The presented research results can be transferred and reproduced in any constituent entity of the Russian Federation. The obtained cognitive models can be used as basic models to back up large administrative decision-making in the field of managing the regional infrastructure for supporting small and medium-sized businesses to improve its adaptability to changes in external and internal factors and to determine the trajectories of sustainable development. In addition, the obtained models can be applied in the field of fundamental research on the functioning and development of regional socioeconomic systems, as well as in applied research in modeling options for sustainable development of regional socioeconomic systems. |
| Keywords: | cognitive model,factors,start-ups,business,innovative entrepreneurship,social and economic development |
| Date: | 2018–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01858333&r=tra |
| By: | Maciej Grodzicki (University of Bremen) |
| Abstract: | Measuring international competitiveness is a highly contested issue in contemporary economics. The emergence of global value chains limits the accuracy of traditional export-based measures and calls for the employment of techniques capable of accounting for value added input of individual economies into global production and trade. The paper aims to contribute to the global value chains literature by developing a framework both for distinguishing diverse modes of competitiveness and for the identification of successful cases of upgrading. It adapts an established method of export price comparisons to the context of global value chains and proposed a bi-dimensional technique based on the dynamics of the volumes and prices of GVC Income. As it concerns the technical side of the paper, it takes advantage of an input-output analysis and additive decomposition technique in order to disentangle the value-added-based measure of GVC Income, as well as the prices and volumes components of its dynamics. Empirical analysis, based on World Input-Output Database, demonstrates that countries differ significantly not only in terms of total GVC income dynamics, but also in terms of the modes chosen to build their competitive position in the global economy. In particular, upgrading throughout the period was achieved only by a few Central, Eastern European and emerging countries. The chances of successfully upgrading changed drastically in time, with the stage of the global business cycle and the balance between global demand and supply. In particular, catching-up possibilities by upgrading, strong in early 2000’s, decreased significantly after the Economic Crisis. The key reason, next to weak demand, that stands behind these developments is the impressive expansion of China, which has been on an upgrading path since 2005. |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2018-14&r=tra |
| By: | Rajcaniova, M.; Ciaian, P.; Guri, F.; Zhllima, E.; Shahu, E. |
| Abstract: | We estimate the impact of land fragmentation and crop rotation on farm productivity in rural Albania. We employ stochastic production frontier estimation approach and Tobit regression on survey data collected among farm households in Albania in 2013. Our estimates suggest that land fragmentation improves farm efficiency likely because it allows a better use of household labour during the production seasons. Our estimates also suggest that crop rotation increases farm efficiency. However, the land fragmentation dominates the crop rotation in impacting farm efficiency. |
| Keywords: | Crop Production/Industries, Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275893&r=tra |
| By: | Roman Lysenko (National Bank of Ukraine); Nataliia Kolesnichenko (National Bank of Ukraine) |
| Abstract: | This paper focuses on the predictive capability of business outlook survey findings in forecasting changes in Ukraine’s real GDP, and in its consumption and investment components. Survey findings have been generalized through the use of principal component analysis. The business outlook index compiled by the National Bank of Ukraine is used as an alternative measure. To forecast GDP and its components, we employ ARDL and VAR models, which factor in the estimated principal components, the business outlook index, and the business outlook survey findings for construction investment over the next 12 months. In estimating the predictive capability of the models, we use pseudo-out-of-sample forecasting. A comparison with actual data shows that annual GDP and consumption growth are best forecast in the current period by applying business outlook survey findings that have been generalized using a principal component analysis, and the first difference of the business outlook index. |
| Keywords: | business expectations, GDP, short-term forecasting |
| JEL: | E27 E58 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:ukb:wpaper:02/2018&r=tra |
| By: | Dai, Fengyan (Nanjing University of Finance and Economics); Cai, Fang (Chinese Academy of Social Sciences); Zhu, Yu (University of Dundee) |
| Abstract: | China experienced a 47% expansion in higher education enrolment between 1998 and 1999, and a six-fold expansion in the decade to 2008. In this paper, we explore a fuzzy discontinuity in the months of births induced by the expansion to study the returns to higher education in China. We find that the mean years of education increased by roughly one full year around the cut-off point of the 1999 expansion as defined by months of births. Importantly, each additional year of university education induced by the 1999 higher education expansion increases monthly wage income by 21%, whereas the corresponding OLS estimate is only 8%. Our findings are insensitive to alternative window widths, functional forms, or the exclusion of the self-employed. Moreover, the returns to degrees also appear to vary by gender, with lowers returns to women except when they are the only child in the family. |
| Keywords: | returns to higher education, higher education expansion, regression discontinuity design, China |
| JEL: | I23 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11735&r=tra |
| By: | Luo, Biliang; Zhu, Wenjue; Paudel, Krishna; Liu, Kai |
| Abstract: | We develop a theoretical model to understand the progress of Land Titling initiated based on the Household Responsibility System in China since 1979. Land Titling has heterogeneous progress across different villages. We argue that farmers' resistance could hinder the implementation of the land title, but the homogenization of farmland quality and the farmers’ private agricultural investments in the village can help farmers to accept the policy in the following mechanisms. The homogenization of farmland quality can reduce the unfair cost of Land Titling; also the farmers’ private agricultural investments can evoke the need of farmers to protect property rights in the village where only partial farmers have engaged in agricultural investment. The theoretical model developed in the paper is supplemented by empirical analyses of farm household data collected from Guangdong provinces in China. We analyze data using Random Effect Generalized Ordered Probit models. Results indicate that, (1) the difference degree of farmland quality (traffic and fertility) within a village has a significant negative effect on the process level of Land Titling in this village; (2) the difference degree of farmers’ private agricultural investment (irrigation and mechanical usable proportion) within a village has a significant positive effect on the process level of Land Titling in this village; (3) as the Land Titling contains 5 procedures to implemented, the above two important factors mainly effect the implementation of the procedures which are about the titled land need to be recognized by the whole village community. |
| Keywords: | Agricultural and Food Policy, Community/Rural/Urban Development, Consumer/Household Economics |
| Date: | 2018–01–17 |
| URL: | http://d.repec.org/n?u=RePEc:ags:saea18:266712&r=tra |
| By: | KAMILA ?YTO (Univesity of ?ód?, Faculty of Philology, School of Media and Audiovisual Culture) |
| Abstract: | Film and media education in the case of preschool-age-children is a particularly complicated matter. There are many different factors, including the question of methodology, challenges which stem from the learning abilities and skills of young children, that should be discussed. But I will concentrate on institutional deficiencies and social stereotypes connected with preschool film and media literacy and try to indicate the main obstacles audiovisual education in Poland deals with. The question to be asked is: should programmes/institutions dealing with early childhood film and media education and lacking state support focus on children? Or perhaps it is more crucial to address their parents and educators in order to change their attitudes, stereotypical thinking, prejudices or just habits. |
| Keywords: | film literacy, media literacy,preschool education, sterotypes |
| JEL: | I29 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:6409295&r=tra |
| By: | Liwiński, Jacek |
| Abstract: | The globalization of labour markets makes language skills one of the key competences required by employers nowadays. Our purpose is to estimate the wage premium from foreign language skills (FLS) earned by the Poles. We also want to find out whether this premium is affected by the fact of working in Poland or abroad. The Poles seem to be a good case study, because the Polish language is not used for international communication, while as much as 58% of Poles command at least one foreign language and 5% of Poles earn their income abroad. We use data from three waves (2012-2014) of the Human Capital Balance survey with a pooled sample of about 35,000 individuals. We estimate wage equation with the Heckman correction for selection to employment and we check for robustness with propensity score matching. We find that the advanced command of a foreign language bring a 6% wage premium to individuals working in Poland and 22% to those working abroad. Interestingly, those working in Poland earn a much higher wage premium from proficiency in Spanish (29%), Italian (20%) or French (19%) than from proficiency in English (8%). But the English language is the only foreign language that brings a wage premium to Poles working abroad. |
| Keywords: | foreign language skills,wage premium,wage equation |
| JEL: | J24 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:251&r=tra |
| By: | Balazs Sziklai (Game Theory Research Group Centre for Economic and Regional Studies, Hungarian Academy of Sciences and Corvinus University of Budapest Department of Operations Research and Actuarial Sciences); Laszlo A. Koczy (Game Theory Research Group Centre for Economic and Regional Studies, Hungarian Academy of Sciences and Keleti Faculty of Business and Management, Óbuda University, Budapest); David Csercsik (Pázmány Péter Catholic University, Budapest) |
| Abstract: | We investigate the geopolitical impact and the possible consequences of the construction of the Nord Stream 2 pipeline. We model the European gas network as a cooperative game between regions as players over the pipeline network, where LNG is also treated as a separate player. We focus on the change of influence of the players in three different scenarios. We investigate how the power of the agents shift when the Nord Stream pipeline is expanded, when the Ukrainian pipeline is shut down and finally when both of these happen. Our calculations show that when Nord Stream 2 is operational, Russia and Western Europe improve their position compared to the base scenario, while other suppliers, notably Norway, together with Central, Eastern and Southern Europe suffer losses, especially when the Ukrainian route is dismissed. The results highlight that both the supporters and adversaries of Nord Stream 2 are governed by self-interest and solidarity and trust, the values proclaimed by the EU and the Energy Union, remain but a slogan. |
| Keywords: | gas supply, pipeline network, Shapley value, cooperative games, Nord Stream |
| JEL: | C61 Q40 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:1821&r=tra |
| By: | Hall, D. |
| Abstract: | The integrated livestock, crops, and fish (VAC) model of integrated small scale agriculture has been important to economic and ecological sustainability in Vietnam for many centuries. Recently, emerging waterborne diseases including avian influenza have jeopardized the VAC model. In order to promote mitigation of the risk of waterborne disease in the VAC system, there needs to be recognition of the significant predictors of such behaviour, particularly with respect to water sources including well and rain water. We report on research results generated from 300 farms in each of North and South Vietnam that indicate the small scale farmers who are more likely to engage in mitigation of waterborne disease are those who raise pigs, perceive themselves to be more at risk of HPAI infection from well water, report they are good livestock managers, value the advice of health care workers, and where a female household member is the decision maker for family health. These results bear importance to water and health policy formulators in rural Vietnam. |
| Keywords: | Environmental Economics and Policy, International Development, Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275875&r=tra |
| By: | Georgieva, Daniela |
| Abstract: | The report analyzes applicability of the equity capital approach for the acquisition of tangible and intangible assets by non-profit organizations in Bulgaria. Attention is also paid to the accounting of depreciation of the assets. Without any claims of comprehensiveness, the conclusions in the report are based on analysis of accounting and legal literature, Bulgarian national accounting standards, as well as data collected from individual interviews that the author conducted among accountants. |
| Keywords: | non-profit organizations, depreciation, long-lasting assets, capitalization |
| JEL: | M40 M41 M49 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88655&r=tra |