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on Transition Economics |
| By: | Mihai Ni?oi (Institute for World Economy, Romanian Academy); Cristian Valeriu Stanciu (Department of Finance, University of Craiova); Cristi Spulb?r (Department of Finance, University of Craiova) |
| Abstract: | Generally, the exchange rate and the stock market have been some of the most studied areas in finance. Furthermore, the nexus between the two assets has been reviewed in a significant number of studies, but with conflicting results. The flow oriented model posits a positive link between exchange rate and stock market (Dornbusch and Fischer, 1980), the portfolio based model assume a negative relationship between exchange rate and stock market, and the monetary model indicates a weaker or no link between the two assets (Branson and Henderson, 1985; Frankel, 1983).This article studies the nexus between exchange rates and stock markets in four countries in Central and Eastern Europe (Czech Republic, Hungary, Poland, and Romania) over the period from 1999 to 2016. In our opinion, our contribution to the literature is manifold. Firstly, even if the papers that analyse the correlation between exchange rates and stock markets are numerous (Lee et al., 2011; Lestano and Kuper, 2015; Caporale et al., 2014; Moore and Wang, 2014; Lin, 2012; Lee et al. 2014), surprisingly, to our knowledge, for Central and Eastern European countries there is a scarce literature in this area. Secondly, we document the time varying correlation in both normal period and crisis period, allowing us to investigate the differences. Thirdly, compared with other studies, we employ a DCC-MIDAS model that enables the extraction of short- and long-term correlation series. Generally, other DCC models estimate only a short-run component for the correlation. Therefore, solely by averaging the high-frequency component, we may obtain a low-frequency component. The DCC-MIDAS model obviates this disadvantage. Our findings are summarized as follows. Firstly, we find significant differences between the four countries. Secondly, we notice an increased variance in terms of time varying correlation between stock market and exchange rate. Therefore, we cannot identify a clear pattern for the correlation. Thirdly, during the most severe crisis episodes, we see an increased correlation, indicating some signs of contagion and lower portfolio diversification. |
| Keywords: | DCC-MIDAS, emerging stock markets, exchange rate, contagion, financial crisis |
| JEL: | F31 G01 G15 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:8110322&r=tra |
| By: | Duric, I.; Glauben, T.; Zaric, V. |
| Abstract: | In this paper, we analyze the effects of the Russian agricultural import ban in 2014, i.e. sudden access of the Serbian pork traders to the Russian market, on price and margin developments along the Serbian pork value chains. We use a regime-switching long-run price transmission model to investigate possible changes in market integration between Serbian and Russian pork markets, and at the same time identify if their newly established trade relation affect already existing integration of the Serbian market with the EU. Furthermore, we use the price transmission model to assess the effects of surge in Serbian pork export on transmission of price changes along the pork value chains. Our results indicate a significant improvement of market integration between Serbia and Russia after 2014 characterized by 80% reduction in transaction costs and almost complete transmission of price changes from the Serbian market towards Russian pork market. Also, the results of the domestic price effects indicate complete transmission of price changes from processors towards retailers after 2014, which means that Serbian consumers bore the biggest burden of significant domestic pork price changes caused by the surge in pork exports. Acknowledgement : This study was conducted within the DAAD PPP Serbien project, financially supported by the German Academic Exchange Service (DAAD). |
| Keywords: | International Relations/Trade |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277201&r=tra |
| By: | Tomoyuki Iida (Bank of Japan); Kanako Shoji (Bank of Japan); Shunichi Yoneyama (Bank of Japan) |
| Abstract: | This paper discusses the sustainability of China fs rapid growth mainly based on the estimation of the corporate-level total factor productivity of Chinese listed firms. Since the 1980s, both capital accumulation and rapid technological progress -- measured as total factor productivity (TFP) -- have contributed to the high growth of the Chinese aggregate output. Should the prediction of the standard growth theory be correct, however, economic growth led by capital accumulation is not likely to be long lasting, hence we mainly focus on firm level TFP growth. As a result, we identify four channels that would continue to promote the TFP growth of the Chinese corporate sector at an aggregate level: (i) declining proportion of low-productivity state-owned enterprises, (ii) continuous influx of highly competent new start-ups, (iii) broad catching up trend among the laggards in the firm distribution, and (iv) innovation spawning R&D activities. These four channels would underpin the medium-term economic growth of the Chinese economy. |
| Keywords: | China; Total Factor Productivity; Catching up; R&D |
| JEL: | N15 O30 O47 |
| Date: | 2018–11–13 |
| URL: | http://d.repec.org/n?u=RePEc:boj:bojwps:wp18e19&r=tra |
| By: | Zhao, Q.; Sun, X.; Guo, P.; Liu, X. |
| Abstract: | With rapid urbanization, millions of people from rural areas have migrated to major cities for employment, leaving their young children at home or bringing their children to urban areas. Whether this labor migration creates substantial mental, physical and educational challenges for these left-behind and migrant children should be considered. This paper uses data from a 9824 students sample from a survey conducted by the authors in Beijing, Suzhou, Anhui and Henan. This study establishes OLS models for identifying the correlation of non-left-behind children, left-behind children and migrant children on health, cognitive and non-cognitive performance. Our empirical findings reveal that the migration of adult household members negatively affects the health status, cognitive and non-cognitive performances of left-behind children and only cognitive performance for migrant children. The effects are particularly prominent for rural children, when the mother migrates out of province. Acknowledgement : We gratefully acknowledge the financial support by National Science Foundation of China (Grants: 71603261); The Ministry of education of Humanities and Social Science project (Grants: 16YJC880107); Chinese Universities Scientific Fund (Grants: 2017RW005, 2017QC043); China Agricultural Foundation Da Bei Nong Education Fund . |
| Keywords: | Health Economics and Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277164&r=tra |
| By: | Michal Mares (University of Economics, Prague); Martin Slany (University of Economics, Prague) |
| Abstract: | This paper represents an early warning indicator of financial crises applied to the data of the Czech Republic, Poland, Hungary and Slovakia (V4 counties) between 2005 and 2018. Based on the previous research, 16 indicators were selected to build up the composite indicator of cyclical components ? so. Composite Index of Financial Instability (CIFI), and discussed its development. The relevance of the presented indicator, especially in the context of the Euro-American financial crisis of 2008-2009, is demonstrated in both graphical and econometric analysis using panel logistic regression. The conclusion implies that all V4 countries had experienced a high instability in connection with the global financial crisis 2008/2009 and implies different developments in financial conditions in recent years. The output of econometric model confirms positive relation between the value of CIFI and probability of financial crises occurrence. An increase in the CIFI per unit indicates an increase in probability of occurrence crisis approximately by 7 %. In spite of all its limitations, the usefulness of the composite index in the context of economic policymaking is proven by the analysis. |
| Keywords: | financial crises, early warning indicator, composite index, Visegrad countries,panel regression |
| JEL: | C53 E47 G01 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910382&r=tra |
| By: | Li, H.; Wang, X.; Ren, Y. |
| Abstract: | With the substantial increase in family income, the prevalence of overweight has risen and become a serious threat to individual health and major health challenges in many developing countries. From the perspective of food consumption, this study attempts to shed light on the effect of family income on adults health outcomes of BMI and being overweight through three potential channels of nutrition intakes, dietary knowledge, and health insurance. Using data from the China Health and Nutrition Survey (CHNS), the empirical estimations show adults BMI and the propensity of being overweight tend to increase with rising income in China. After identifying significant correlations between family income and potential channels considered, we conclude that approximately 34.14% and 33.75% of income effect on BMI and overweight could be explained by these three channels, especially, nutrition intakes taking the largest proportion is responsible for 26.96% and 28.08% of income effect on BMI and overweight, respectively. Additionally, we observe that there exists a significant heterogeneity in income-BMI gradients across various income quantiles and sub-samples, showing that income has higher effect on adults health for male and urban samples but it is not responsible for female sample. Acknowledgement : The authors acknowledge funding supports provided by National Natural Sciences of China (71742002; 71673008). |
| Keywords: | Health Economics and Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277074&r=tra |
| By: | Mizik, T.; Torok, A.; Jambor, A.; Kovacs, S.; Sipos, L. |
| Abstract: | The competitiveness of agriculture in international trade is a relatively understudied field in the literature, especially in Central Asia. The aim of the paper is to analyse the comparative advantage patterns in the agriculture of the Commonwealth of Independent States. Results suggest that agriculture still plays an important role in the region and the majority of countries are net food importers. Moldova, Kyrgyzstan and Armenia had the highest Balassa indices with cereals as leading export products and Belarus, Ukraine and Azerbaijan are also having some comparative advantage at the same time. Based on trade performances, several country groups were set up. Armenia, Kyrgyzstan and Moldova showed similar characteristics, while Russia with Kazakhstan as well as Belarus with Ukraine demonstrated similarity. Comparative advantages, however, have not turned out to be persistent according to stability and duration tests as survival chances fell significantly from 2000-2003 to 2012-2015. Acknowledgement : This work was supported by the National Research, Development and Innovation Office [grant number 119669, Competitiveness of Agriculture in International Trade: A Global Perspective ]. The authors gratefully acknowledge the financial support. |
| Keywords: | International Relations/Trade |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277481&r=tra |
| By: | AGNIESZKA Wa??ga (Cracow University of Economics); GRZEGORZ Wa??ga (Cracow University of Economics) |
| Abstract: | Economic situation is one of the major determinants of household debt. The analysis of changes in borrowing levels in the global economic context allows for better understanding of household behaviours in the financial markets. The increase in income levels results in upgrading consumer aspirations, especially in developing countries. With some household expenses financed by credit, a growth in household debt levels can be observed. This research is based on panel data at the micro level for Polish households, obtained from the Social Diagnosis (Diagnoza Spo?eczna) study in 2009 and 2015. The purpose of this paper is to assess the impact of changing household incomes on their debt levels. The overall change in household debt levels is examined using mobility indices.The results show that the general improvement in the income situation of indebted households varies depending on the level of debt. The subjective perception of the income situation of the low-debt households has improved. In addition, the heavier the burden of loan repayments, the less likely it is that households can benefit from the favourable economic situation. |
| Keywords: | indebted household, economic situation, mobility indices |
| JEL: | D12 D14 D31 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910190&r=tra |
| By: | Magdalena Kozera-Kowalska (Poznan University of Life Science); Rafal Baum (Poznan University of Life Sciences) |
| Abstract: | This paper discusses the possible ways of measuring intellectual capital in agricultural enterprises. Of the many available methods, VAIC? by A. Puli? was assumed to be the most useful one. It was implemented for the purposes of research and to enable an empirical verification based on financial data of 148 agricultural enterprises. The analysis of results and the discovered deviations from substantive findings resulted in proposing a new indicator of Intellectual Sources of Value Added (ISVA) which was empirically verified using the same sample of businesses. The results suggest that ISVA provides a much more realistic reflection of the processes of value added creation from intellectual capital in agricultural enterprises. It also demonstrates that new value is created in a context of complementarity between tangible and intangible inputs which together provide the agricultural enterprises with a key to growth of efficiency. |
| Keywords: | intellectual capital, value added, agricultural holding performance, micro analysis of farms, intellectual capital measurement |
| JEL: | G32 L25 O12 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910142&r=tra |
| By: | Kaiji Chen; Tao Zha |
| Abstract: | The Chinese economy has undergone three major phases: the 1978-1997 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government's financial policies, defined as a set of credit policy, monetary policy, and regulatory policy. We analyze the macroeconomic effects of these financial policies throughout the three phases and provide the stylized facts to substantiate our analysis. The stylized facts differ qualitatively across different phases or economies. We argue that the impacts of China’s financial policies work through transmission channels different from those in developed economies and that a regime switch from one economy to another was driven mainly by regime changes in financial policies. |
| JEL: | E5 G1 G28 O2 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25222&r=tra |
| By: | Funke, Michael; Tsang, Andrew; Zhu, Linxu |
| Abstract: | This paper investigates the implementation of regionally differentiated macro-prudential policies in China. To assess the relative intensity of the city-level macro-prudential policies over time, we construct a time-varying city-level macro-prudential policy intensity indicator for 70 Chinese cities from 2010-2017. The empirical evidence shows China’s macro-prudential toolbox has gradually evolved toward city-level policies tailored to granular local conditions to mitigate risks. |
| JEL: | O18 E52 C38 |
| Date: | 2018–11–14 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2018_018&r=tra |
| By: | Yujiao Xian; Ke Wang; Yi-Ming Wei; Zhimin Huang |
| Abstract: | The nationwide carbon emission permit trading scheme has been launched in China¡¯s power industry sector by the end of 2017. The estimation of abatement costs savings from carbon emission permit trading can provide valuable guidelines and support to environmental regulatory policies on controlling CO2 emissions. By applying a parametric and nonparametric integrating approach and conducting an ex post analysis in two scenarios (i.e., with and without carbon emission permit trading simulation), this study provides a simulative calculation of the opportunity abatement cost savings and the marginal abatement cost savings from carbon emission permit trading in China¡¯s power industry of 30 provinces. The simulation results show that: i) A 13% annually average potential on the opportunity abatement cost savings (i.e., 1024 billion yuan) would be realized if introducing a nationwide emission permit trading system in China¡¯s power industry during 2011-2015. ii) Meanwhile, the marginal abatement cost savings that range from 39 to 47 yuan/ton would be realized through emission permit trading. iii) Provinces of Xinjiang and Henan show the largest absolute opportunity abatement cost savings from trading, while Qinghai province shows the highest percentage increase in opportunity abatement cost savings. iv) Although there is significant difference in the marginal abatement cost among provinces, the marginal abatement cost savings from trading would occur for most China¡¯s provinces. |
| Keywords: | By-production approach; Data Envelopment Analysis; Directional Distance Function; Emission Trading System; Opportunity abatement cost; Marginal abatement cost |
| JEL: | Q54 Q40 |
| Date: | 2018–11–14 |
| URL: | http://d.repec.org/n?u=RePEc:biw:wpaper:121&r=tra |
| By: | Waibel, H.; Chichaibelu, B.B. |
| Abstract: | This study aims to explore cross-country differences in credit market participation, level of household debt holding and over-indebtedness between rural households in Thailand and Vietnam. Using a unique rural household survey data from Vulnerability in Southeast Asia project, it first identifies socio-economic determinants of such market outcomes for rural households in Thailand and Vietnam. It decomposes differences into a part that arise due to configuration of household characteristics or a part that arise due to differences in economic environments using three decomposition methods. Significant differences are observed in credit market participation rates and level of debt holding and indebtedness between rural households in Thailand and Vietnam. Rural households in Thailand tend to participate more in the credit market and face higher risk of over-indebtedness. These observed differences arise mainly due to dissimilarity in the economic environment for households with similar characteristics. Economically disadvantaged rural households in Thailand are more likely to participate in the credit market and face higher level of indebtedness mainly because credit markets are make borrowing easy. The higher gap observed in the upper part of the debt distribution between Thailand and Vietnam can be explained by differences in credit market conditions between the two countries. Acknowledgement : |
| Keywords: | Consumer/Household Economics |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277520&r=tra |
| By: | Lu, H. |
| Abstract: | The relationship between farmers and land has always been the main concept behind rural reforms in China, and continues to be so even at present. Land fragmentation management as one of the basic characteristics of agricultural production in our country, not only related to agricultural production, but also related to the use of labor. Using household survey data collected from the Jiangsu province in China, this study analyzes the theoretical mechanism, and empirically tests the direction and degree of the impact of land fragmentation on non-agricultural labor supply. The results reveal that land fragmentation decreases the marginal productivity of agricultural labor and increases the non-agricultural labor supply. This effect is especially more obvious for young workers. The government should provide timely policy support to spontaneously transfer adjacent land or the whole village among farmers, promote land consolidation, optimize the agricultural management system, complement agricultural modernization with new urbanization, and propel the integration of the agriculture, manufacturing, and service industries in rural areas Acknowledgement : This study was supported by the National Natural Science Foundation of China (No. 41561040); the Key Projects of the National Social Science Fund of China (No. 15AZD075); the Sixty-second Batch of China Postdoctoral Science Foundation Funding (No. 2017M622097); the Technology Foundation of Jiangxi Education Department of China (No. KJLD14033 & No. GJJ160431), and the Fok Ying-Tung Fund (No. 141084). |
| Keywords: | Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277097&r=tra |
| By: | Kuhn, L.; Hou, L.; Chen, X.; Huang, J. |
| Abstract: | The burning of agricultural residue is one large contributor to poor air quality in China. Due to technical requirements and adverse incentives, farmers are however still reluctant to give up this traditional form of residue management. Current policies are aiming at improving the spread of innovation by both coercive measures penalizing residue burning and programs supporting more sustainable alternatives. The current paper employs a fixed-effect model along farm-level and village level panel data collected in 2013 to assess trends in residue management and analyze the impact of three different policies on residue management choices of farmers in North-East China. Our data reveals that the 2008 residue burning ban could not achieve any significant reduction of residue burning. Instead we found that policies that focus on enabling farmers to comply with regulations, for instance machinery subsidies and demonstration sites, had a significant positive effect on sustainable residue management. While burning bans are still a necessary component of environmental policy, we therefore recommend placing highest priority on policies providing economic incentives to achieve long-term changes in farmers management strategies. Acknowledgement : |
| Keywords: | Agricultural and Food Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277374&r=tra |
| By: | Komada, Oliwia (GRAPE); Strzelecki, Pawel (Warsaw School of Economics); Tyrowicz, Joanna (University of Warsaw) |
| Abstract: | The reform introduced in Poland in 2009 substantially and abruptly reduced the number of workers eligible for early retirement. This paper evaluates the causal effects of this reform on labor force participation and exit to retirement. We use rich rotating panel from the Polish Labor Force Survey and exploit the discontinuity imposed by this reform. We find a statistically significant, but economically small discontinuity at the timing of the reform. The placebo test shows no similar effects in earlier or later quarters, but in a vast majority of specifications the discontinuity is not larger for the treated individuals, i.e. those whose occupation lost eligibility. We interpret these results as follows: the changes in the eligibility criteria were not instrumental in fostering the participation rates among the affected cohort, i.e. the immediate contribution to increased labor force participation of these cohorts is not economically large. |
| Keywords: | retirement age, early retirement, regression discontinuity, Poland |
| JEL: | J14 J26 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11896&r=tra |
| By: | Karolina Pawlak (Poznan University of Life Sciences, Faculty of Economics and Social Sciences, Department of Economics and Economic Policy in Agribusiness) |
| Abstract: | The aim of the paper was to assess the competitive capacity of the Polish meat industry in trade with the US in relation to major EU producers of meat and meat preparations. Referring both to the growth and trade theories in research on international competitiveness and based on the methodological approach proposed by Wijnands, van der Meulen and Poppe (2006) to estimate the competitive capacity of the meat industry in the analysed countries the study used a set of economic and trade indicators appropriately adapted to the requirements of the analysis of bilateral relations. The indexes based on the market and trade shares included shares in exports to the target market and indexes of relative trade advantage, while the applied economic indexes included the real value added and its share in the total value added of the food industry and real labour productivity. The time frame for the analyses covered the years 2007-2016. The study is based on data from the European Statistical Office (Eurostat). Summing up the analyses it may be stated that in the years 2007-2016 the competitive position of the Polish meat industry in trade with the US in comparison to the leading EU producers of meat and meat preparations was strengthened both thanks to an improved trade position (measured by the share in the EU exports to the US market and relative trade advantages) as well as economic indicators connected with an increase importance of the analysed sector in the generation of real value added of the food industry and labour productivity. |
| Keywords: | competitiveness, meat industry, market share, relative trade advantage, real value added, labour productivity, Poland, the EU countries, the US market |
| JEL: | F14 L66 Q13 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910181&r=tra |
| By: | International Monetary Fund |
| Abstract: | A three-year arrangement for Mongolia under the Extended Fund Facility (EFF) was approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million (435 percent of quota, or about $425 million). The arrangement is part of a $5.5 billion multi-donor financing package that supports the authorities’ Economic Recovery Plan. The extended arrangement is subject to quarterly reviews. |
| Date: | 2018–11–02 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:18/303&r=tra |
| By: | Bai, Y.; Wang, W.; Zhang, L. |
| Abstract: | Return migration is an important part of rural labor mobility in China, and has been given growing concern recently by governments. However, research covering the duration of stay in their home county, a basic question of labor mobility and a precondition for policy making, is far from enough. The aim of this paper is to analyze the period of return for these migrants based on employment history data among rural laborers. The data was collected from a random, nationally representative sample of 100 rural villages in five provinces of China. We find that 22.3 percent of migrants returned from 1998 to 2015, and most returning migrants stay for a long time. Using the OLS, Tobit, and Heckman two-step methods, the results show that returning migrants who are old, more educated, unmarried, and with school-age children are more likely to stay longer in their home county. From a development perspective, returning migrants are expected to play an important role in the process of rural revitalization. Most importantly, the government should still gradually eliminate institutional limitations facing rural people and promote the free flow of labor resources in the process of realizing the integration of urban and rural areas. Acknowledgement : The authors acknowledge the financial assistance of the National Natural Science Foundation of China (grant number 713300132). |
| Keywords: | Labor and Human Capital |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277380&r=tra |
| By: | Liu, H.; Deng, H.; Xu, Z.; Lu, W. |
| Abstract: | With the rapid development of agricultural cooperatives in China, a substantial number of them exist without any operation or service. To identify the true impact of agricultural cooperatives on crop production, we ought to parse out cooperatives that were registered but do not function properly. This paper analyzes the role of agricultural cooperatives in changing crop production structure in rural China, focusing on their status of activity. The data are from village surveys in three provinces (Jiangsu, Jilin, Sichuan) collected by the authors in years 2003, 2009 and 2014. Results show that agricultural cooperatives do not affect the production of grain crops, but do increase the size and share of farmland allocated to high-value crops. The effect only manifests in villages with well-functioning cooperatives. This indicates that strict monitoring system and incentive mechanisms need to be implemented to improve the performance of the cooperatives. Acknowledgement : The authors are grateful to Xuyuan Zheng, Xiaojing Liao, Zheyi Zhu,Yufeng Luo, Zixi Feng and other team members who helped collect the data. We would like to thank the financial support from National Natural Science Foundation (71361140370&71573133) and National Social Science Foundation (13ZD160&14ZDA038). |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277324&r=tra |
| By: | Egor Krivosheya (Moscow school of management SKOLKOVO, National Research University Higher School of Economics, Russian Federation); Ekaterina Semerikova (Moscow school of management SKOLKOVO) |
| Abstract: | This research empirically evaluates the effect of network externalities for individuals behavior at Russian retail payments market. Specifically, the effects of direct and indirect network externalities for cardholding and usage probabilities are examined. Using the representative sample of 1500 individuals from all Russian regions this study finds significant robust evidence of positive association between the degree of both types of network externalities and individuals? activity at the Russian retail payments market. Results are economically significant: a standard deviation increase in network effects leads to 2.5-4 percentage points increase in probability of cardholding and usage. Findings imply that one needs to account for network effects which play an important role for the payment behavior before implementing payment stimulating programs in Russia aimed at cardholders or users. |
| Keywords: | Retail payments; payment cards; network effects; cardholders' behavior; financial services |
| JEL: | G21 D53 E42 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910185&r=tra |
| By: | Teresa Hanna Bednarczyk (Maria-Curie Sklodowska University) |
| Abstract: | The old-age pension systems are the largest component of social protection and pursue a variety of social goals. This paper focuses on old-age poverty protection as the key aspect of the adequacy of pensions. The main purpose of this work is to assess, whether the Polish pension scheme provides sufficient protection against income poverty for future pensioners? The following hypothesis was verified: institutional solutions in the current Polish pension scheme will not provide sufficient protection against poverty for all future pensioners. The research methods used included a review of the subject literature and an empirical analysis of statistical data. The research findings show that the statutory pension scheme in Poland does not protect well all future pensioners against income poverty. Transition to pensions based on lifetime contributions will lead to lower adequacy and an increased risk of poverty among elderly population. A minimum insurance period of 25 years for men and 20 years for women is required to obtain the right to a guaranteed minimum-pension. Persons, who do not meet this condition receive extremely low pensions (so-called penny pensions). Unfortunately, their number is still growing. Therefore, further changes in the pension system are advisable. |
| Keywords: | public pension system, pensioner, poverty, demographic aging,replacement rate |
| JEL: | H55 I32 I38 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6909956&r=tra |
| By: | Shuchen, Liu; Deng, Kent; Shengmin, Sun |
| Abstract: | This study uses data of “Chinese Household Income Project Survey 2002” to investigate long-term impact of Mao’s persistent policy of “forced/involuntary ruralisation of urban youth” (shangshan xiaxiang, literally “re-settlement in mountains and villages”) during the 1950s and 70s on women’s labour market participation and contribution to family incomes. Our results indicate that the impact of Mao’s forced ruralisation on female labour market participation can be positive (despite diminishing in size due to ageing). In addition, a change from positive to negative impact is largely determined by personal hardship under Maoism and its aftermath. Moreover, regarding female contribution to family incomes, our findings suggest that forcefully ruralised urban women have more bargaining power later in family finance. Our conclusion is that against all the odds Mao’s “forced ruralisation of urban youth” has improved family and societal positions of female victims in the post-Mao era as an unintended consequence of Maoism. |
| JEL: | I28 J08 P25 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:wpaper:90615&r=tra |
| By: | Li, X.; Guo, H.; Li, L. |
| Abstract: | The rise of contract farming is one of the most important changes in modern agriculture. Yet the adoption of these new forms of organization has varied widely across commodities. Vegetable, with more rich varieties compared with other agricultural sections, as the representative of high value agricultural products plays an important role in the development of agricultural economics and the improvement of farmers' income. With the rapid emergence of contract farming in recent decades, China is leading the developing world in vegetable production. By using household survey data, this study aimed to explore the linkage between production attributes of different vegetables and farmers' decision of contract farming participation, as well as examine the impact of marketing contracts on net returns. The results revealed that the harvest and marketing times, perishability, certification of the vegetables, and price fluctuation have significantly positive effect on vegetable farmers contract farming participation, respectively. A propensity score matching (PSM) method is employed to estimate the impact of contract farming on net returns of vegetable production, and find out the effect is insignificant. Acknowledgement : The paper is funded by the National Natural Science Foundation of China (Grant No.71333011; Grant 71473218). |
| Keywords: | Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277154&r=tra |
| By: | Lan Thi Thu Phan (Viet Duc University Hospital); Yusuke Jinnai (International University of Japan) |
| Abstract: | Vietnam has achieved several Millennium Development Goals of the United Nations including child mortality reduction and maternal health improvement. The government of Vietnam aims to further improve health in Vietnam by expanding its public health insurance system originally introduced in 1993. Since health insurance is an essential tool to prepare for unexpected health shocks, the government plans to provide a public insurance system to cover eighty percent of its population by 2020. However, whether having health insurance is beneficial remains unclear and controversial. Some recent studies find positive impact of health insurance, while others argue that the quality of its services has been low due to limited coverage. In contrast to previous papers on Vietnam's health policy that use data from nationwide Vietnam Household Living Standard Survey, this research uses more detailed, randomly-selected, patient-level medical records from Viet Duc University Hospital, the largest public surgical hospital in Vietnam. Using precise information on each patient's treatment history and usage of health insurance, this paper provides new empirical evidence on the effect of health insurance. Regression analysis shows that insurance helps patients stay 1.6 days longer in hospital and pay 48.6 percent less for their treatments than uninsured counterparts. This study also finds that financial burden between the insured and uninsured patients is larger in rural provinces than in the capital-city Hanoi, suggesting the significant advantages of health insurance for people in under-developed areas with fewer public hospitals. These new findings from patient-level information in Vietnam contribute to the growing literature on health insurance policies in developing countries and are particularly informative when governments plan to introduce nationwide public health-insurance systems. |
| Keywords: | Health insurance, treatment, length of stay, out-of-pocket payment |
| JEL: | I13 I12 I10 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:iuj:wpaper:ems_2018_01&r=tra |
| By: | Saxhide Mustafa (Riinvest Institute) |
| Abstract: | Through providing tools and mechanisms for balanced representation of stakeholders' interests (first of all, to owners, management and employees) corporate governance according to OECD principles should ensure the increase of the value of the assets of companies, their competitiveness capacities and attractiveness to investors. As in general in transition economies building these mechanisms and implementing these principles at the companies proved to be problematic more in their implementation than in developing legal framework. Institutional environment, maturity of democratic institution, and especially business environment seems to be very relevant the quality of corporate governance in transition economies. This paper after presenting some of theoretical discussions on specific corporate governance issues in transition economies presents also short comparative overview regarding achievements in key areas of corporate governance in Kosovo, Albania, Croatia and Bulgaria. This comparative analyses demonstrate that corporate governance and its implementation very much depend on the level of institutional maturity, especially perceptions on the level of corruption and also to business environment which provides conditions for free and fair competition. |
| Keywords: | Corporate governance, institutions, business environment, boards, transition. |
| JEL: | G30 G38 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:8110409&r=tra |
| By: | Wang, H.; Guan, H.; Boswell, M. |
| Abstract: | More than 60 million children in rural China are left-behind both parents live and work far from rural homes and leave behind their children. This paper explores the variations in how left-behind and non-left-behind families seek health remediation in China's vast but understudied rural areas. We examine this question in the context of a program to provide vision health care to myopic rural students, using data from a randomized controlled trial of 13,100 students in two provinces in China. We find that without a subsidy, uptake of health care services is low, even if individuals are provided with evidence of a potential problem (an eyeglasses prescription). Uptake rises two to three times when this information is paired with a subsidy voucher redeemable for a free pair of prescription eyeglasses. Left-behind children who receive an eyeglasses voucher are not only more likely to redeem it, but also more likely to use the eyeglasses. In other words, in terms of uptake of care and compliance with treatment, the voucher program benefitted left-behind students more than non-left-behind students. The results provide a scientific understanding of differential impacts for guiding effective implementation of health policy to all groups in need in developing countries. Acknowledgement : |
| Keywords: | Health Economics and Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276955&r=tra |
| By: | Lamberova, Natalia; Sonin, Konstantin |
| Abstract: | The economic transition from socialism in Russia has not resulted in the emergence of impersonal, rule-based institutions. Instead, the natural demand for institutions that protect property rights has led to the emergence of alternative, inefficient institutions such as that of cronyism - the practice of appointing personal acquaintances of the political leader to key positions. A political leader not constrained by institutions appoints cronies, as competent subordinates are more prone to switching allegiance to a potential challenger. As competence makes a bigger difference in a rule-based environment, such a leader has no interest in any institutional development. In a simple empirical exercise, using a data set that covers the richest Russians, we find a positive and significant effect of direct connections to the personal circle of President Putin on the wealth of businessmen. The magnitude of the effect varies at different levels of rents available for redistribution and "network centrality of a businessman": it is higher during the years of high oil prices, but is attenuated by the prominence of the businessman in the network. |
| Keywords: | alternative institutions; network analysis; Political Connections |
| JEL: | C45 P26 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13177&r=tra |
| By: | Aleksandra ?uczak (Pozna? University of Life Sciences) |
| Abstract: | The purpose of this paper is to assess the development status of local administrative units (LAUs) with the use of a modified quantifiable SWOT analysis based on Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). The proposed method was used for assessing the socio-economic development status of municipalities located in the Pozna? district (Poland) in 2016. Based on research, four main types of development status were identified: the aggressive, competitive, conservative and defensive type. Also, the level of exogenous and endogenous socio-economic development was assessed. The study was based on statistical data from the Central Statistical Office in Poland. The method presented in this paper is of a universal nature and may be used as well for SWOT analyses of other spatial and economic units. |
| Keywords: | modified quantifiable SWOT method, TOPSIS, socio-economic development, development status, municipalities, planning |
| JEL: | C38 H70 O12 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910188&r=tra |
| By: | Pamela Lenton (Department of Economics, University of Sheffield, UK); Lu Yin (School of Public Administration, Nanjing University of Finance and Economics, China) |
| Abstract: | This paper examines the role of generalised self-efficacy and work values, on employee reports of overall job satisfaction in China from 2012 to 2014. This paper is novel in two ways. The first is that different aspects of job satisfaction in China are examined in addition to overall satisfaction and the second is that we examine self-efficacy and work values after controlling for occupation and income. The evidence presented supports our various hypotheses that self-efficacy and perceived work values play a large role in determining both reported overall job satisfaction and job satisfaction with various aspects of the job in China. In particular, we find a strong link between the National Vocational Qualification system in China and generalised self-efficacy, which we believe enhances workers sense of capability. The implication for Chinese employers is that it is imperative for their worker productivity that they look after their employees’ perceived self-efficacy, possibly by encouraging access to the National Qualification system and that they also facilitate a good working environment where worker relations or ‘guanxi’ can flourish. |
| Keywords: | Generalised self-efficacy; Work values; Job satisfaction; Ordered-probit |
| JEL: | D8 J28 J81 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:shf:wpaper:2018017&r=tra |
| By: | Wang, X.; Min, S.; Junfei, B. |
| Abstract: | This paper constructs a simple model of matrilocal residence with the heterogeneities in family labor and resource endowments of the wives households. Using the data collected from a comprehensive household survey of small-scale rubber farmers in Xishuangbanna Dai Autonomous Prefecture in Southwest China, the empirical results suggest that the economic factors go beyond the traditional custom of the Dai women and determine a woman's decision to be a matrilocal residence. The labor shortage of a woman s household may foster the incidence of matrilocal residence, while a woman whose natal household possesses more rubber plantations has a higher probability of matrilocal residence. The results confirm that in the presence of labor constraint and resource heterogeneity, a higher labor demand of a household and possessing more location-specific resource may increase the likelihood of matrilocal residence of female family members after marriage. The findings complement the literature regarding matrilocal residence in a community with disequilibrium distribution of the location-specific resources. Acknowledgement : Acknowledgements: This study is conducted in the framework of the Sino-German SURUMER Project , funded by the Bundesministerium f r Wissenschaft, Technologie und Forschung (BMBF), FKZ: 01LL0919. We also acknowledge funding supports provided by National Natural Sciences of China (71673008; 71742002). |
| Keywords: | Labor and Human Capital |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277494&r=tra |
| By: | Xiaorong, Z.; Yumeng, W.; Xiangzhi, K. |
| Abstract: | China is the largest producer of tea in the world. In recent years, the primary activities and support activities of the Chinese tea value chain have undergone changes, such as the higher demand for raw materials with strict quality standards, the diversification of procurement methods and the cross-regionalization of procurement. Small farmers face more serious difficulties, such as financing problem, production input problem, lack of market information and so on. These problems make it easier for them to be squeezed out of the market, and the status of farmers in the market would be lower than before. In this paper, we draw on data from tea farmers in northern, eastern and southern Fujian Province China in July 2017. We found that the participation of tea farmers in the value chain helps to increase their economic performance. And tea farmers participate in different value chain organizations to different extent to their economic performance. Among them, only the participation of tea growers is more conducive to increase their economic performance than joining and setting up the tea value chain organization; tea growers join enterprises more favorably and increase their economic performance than joining cooperatives. Acknowledgement : We gratefully acknowledge financial support from the National Natural Science Foundation of China No.71361140369. |
| Keywords: | Marketing |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277292&r=tra |
| By: | Kosec, K.; Shemyakina, O. |
| Abstract: | Does privatizing land improve child health and nutrition outcomes? We exploit a natural experiment in The Kyrgyz Republic following the collapse of socialism whereby the government rapidly liquidated state and collective farms containing 75 percent of agricultural land and distributed it to individuals, providing 99-year transferrable use rights. We use household surveys collected before, during, and after the reform and data on the spatial variation in the timing of privatization to identify its health and nutrition impacts. We find that children exposed to land privatization for longer periods of time accumulated significantly greater gains in height and weight, both critical measures of long-term health and nutrition. Children who benefited most from privatization were between the ages of 1 and 1.5 possibly due to protective effects of breastfeeding for children younger than a year old, and reduced vulnerability to health shocks at older ages. We find no evidence of significant gender differences in the effects of privatization. Acknowledgement : We thank both the Georgia Institute of Technology and IFPRI s Central Asia Program for financial support. We are also grateful to the Life in The Kyrgyz Republic (LIKS) team for their support, which included adding questions on the timing of land reform to round 5 of that survey, explicitly for the purposes of this study. The authors may be contacted at: Katrina Kosec, Senior Research Fellow, IFPRI, 2033 K Street, NW Washington, DC 20006, USA, , (323) 229 3180. |
| Keywords: | Health Economics and Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277302&r=tra |
| By: | Yi, Q. |
| Abstract: | The separation of agricultural mechanization services from the production processes of agriculture represents the division of labor in agriculture and is a kind of innovation in the organization of agricultural production. This study explores the adoption of agricultural mechanization services among maize farmers in China and particularly examines the impacts of population aging and off-farm employment. Based on a cross-sectional data of some 600 maize farmers in 7 provinces of China , the results show that the mechanization rate of maize farming in China is about 61%, wherein over Over 46% adopt agricultural mechanization services, but while less than 15% use own agricultural machines. The proportion of family members aged?60 years old in the household negatively affects the off-farm employment of family members and the adoption of agricultural mechanization services. Also, the percent of family members engaging in off-farm work has a positive effect on maize farmers' agricultural mechanization services adoption. The findings reveal that the increasing population aging and the rising wages in China would foster the demand for agricultural mechanization services in future. This study not only complements the empirical evidence on agricultural mechanization services but also provides a better understanding of the transformation of agriculture in China. Acknowledgement : Thanks to China Center for Agricultural Policy , my coauther Min Shi and my tutor professor Huang jikun |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277541&r=tra |
| By: | Hou, J.; Huo, X. |
| Abstract: | The purpose of this paper is to explore the impact of using computer to obtain information on the farm household s production and consumption, based on a field survey of farm households in northern China. The most important methods applied are instrumental variable (IV) method and propensity score matching (PSM). Estimators of IV, PSM and NNM(nearest neighborhood matching approaches are considered together to check the robustness of empirical results. This article carful impact evaluation results suggest that computer usages improves the size of arable land rented-in, but reduces family labor input intensity and the probability of selling agricultural outputs at farm-gate market. They also stimulated transportation, garment, housing and insurance expenditure per capita. First, we directly estimate computer usage impacts on a broader range of production and consumption indicators by including land-relative investments, variable investments, labor input and households expenditure and provide rigorous impact evaluations on the impact of access to computer. Second, we use IV method PSM method to correct self-selection bias, going beyond the single equation approach in other studies. This enables us to identify the causal relationship between computer usage and farmer s production and consumption decisions. Acknowledgement : We are grateftul to the financial support of the China agricultural research system. |
| Keywords: | Labor and Human Capital |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276943&r=tra |
| By: | Wang, D.; Qian, W. |
| Abstract: | Based on the data of China Household Income Project 2013(CHIP 2013), this paper empirically studies the impact of land expropriation on the objective and subjective welfare of farmers and explores its influence mechanisms. We firstly estimate the net effect of land expropriation on land-lost farmers individual income and happiness. The result shows that although the land expropriation improves their individual income, it significantly reduces their happiness scores. After we use another dataset CFPS2010 to solve endogeneity of geographical selection and apply propensity score matching (PSM) method to solve self-selection bias, the results are also robust. Then, the mechanism analysis shows that off-farm employment plays a mediation effect role so that land expropriation promotes rural labor transfer to non-agricultural employment market and increase their income, but higher occupation switching costs and the lack of social security is one of the important reasons resulting in the decrease of the landless farmers' happiness. To trace the institutional reason, China s splitted land system and its characteristic land expropriation compensation system not only deprived of farmers' land value-added income opportunities, but also failed to fully consider the occupational transformation and long-term security of landless farmers. Acknowledgement : The main funding source for the research is the National Natural Science Foundation of China(71673241).Thanks to Prof. Lu Ming for giving us advice during the research. |
| Keywords: | Research Methods/ Statistical Methods |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277301&r=tra |
| By: | W?odzimierz Ko?odziejczak (Pozna? University of Life Sciences, Faculty of Economics and Social Sciences) |
| Abstract: | The purpose of this paper is to present the possible uses of the method developed by the Centre for Economic Policy Research (Unemployment 1995) for estimating the structural unemployment level in selected population groups based on the analysis of flows to/from employment, unemployment and inactivity. Though the method is quite old and has met criticism, it is still reasonable to use it because it enables the decomposition of unemployment into the structural and cyclical component at various levels, limited only by data availability. Also, it is highly suitable for the analysis of data retrieved from the EU-wide Labour Force Survey (LFS). Calculating the flow rates and equilibrium unemployment levels for particular rural population groups selected by defined characteristics, assessing how they evolve over time, and comparing the results between different population groups (e.g. urban dwellers) can be a basis for drawing conclusions on the determinants of changes in economic activity and on the structural or cyclical nature of unemployment. This information is essential for a proper selection of measures taken to counteract adverse developments in the labour market, and enables a more efficient search for solutions designed to improve the population?s occupational and economic status. The possible uses of that method are illustrated by the example of the Polish rural population and by calculations based on 2016 data. |
| Keywords: | unemployment decomposition, LFS, equilibrium rate of unemployment, unemployment natural rate, rural areas |
| JEL: | J21 J64 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910179&r=tra |
| By: | Peng, Y.; Turvey, C.; Kong, R. |
| Abstract: | This paper aims to determine, how providing the right of collateral to LUR might change farmers investment behavior and incentivize entrepreneurial activity. To achieve this objective, we try to solve two issues. The first issue of economic importance is in understanding the market value of LUR transactions; creating now a tradable asset from one which held value but no market. To examine this we build an argument around the idea of economic and marginal rents from Ricardo. The second issue relates to the extent by which deepening the rural financial landscape by allowing the mortgaging of LUR will promote and advance much needed entrepreneurial activity. To explore this issue we draw on Schumpeter. Then, based on a survey of 1,465 farm households in rural China and an endogenous 2SLS model. We find that a positive and significant relationship between a willingness to mortgage LUR and entrepreneurship, which suggest that the new policy may well meet that objective. However, we do not find that that entrepreneurs alone will have a willingness to mortgage LUR; non-entrepreneurs traditional farmer types- would also be willing to mortgage LUR, but with a caveat that either group already has a disposition or demand for credit. Acknowledgement : Funding for this research from the China National Nature Science Fund with ratification number 71373205. |
| Keywords: | Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277308&r=tra |
| By: | Costel Istrate (Alexandru Ioan Cuza University of Iași [Romania]) |
| Abstract: | Starting with 2016, the Romanian authorities stated that 17 state owned companies have to apply IFRS. The objective of this paper is to analyse these companies in light of how auditors confirm compliance with the accounting standard and to highlight the main justification of modified audit opinions as well as of emphasis of matters paragraphs – the period analysed is 2010-2016. The main findings are: the weight of Big 4 auditors is quite limited, but in line with others Romanian companies; the modified opinion are in majority (more than 70%). The main justifications of the modified opinions are the non-observance of the accounting rules on provisions, followed by the approximate application of the assets/liabilities recognition criteria, as well as other possible consequences of the prudence principle. Emphasis of matters paragraphs is also present in more than 50% of the audit reports analysed, and the main explanation are related to going concern matters and to a specific matter – the dependence of these companies to public authorities decisions |
| Abstract: | A partir de 2016, 17 grandes entreprises roumaines d'état sont obligées de passer aux IFRS. Nous avons étudié les rapports d'audit financier de ces firmes, sur une période 7 ans, afin d'avoir une image de la manière dont ces firmes respectent les règles comptables. Nous avons trouvé notamment que la présence des Big 4 est inférieure à d'autres échantillons analysés dans la littérature, mais comparables aux firmes roumaines cotées. La principale caractéristique de ces rapports est que les opinions modifiées sont largement majoritaire (plus de 70%). Les principales justifications de ces opinions modifiées consistent dans l'identification, par l'auditeur, de problèmes concernant l'estimation et la constitution de provisions, la comptabilisation approximative de certains actifs et passifs, ainsi qu'à d'autres conséquences du principe de prudence. Ces rapports contiennent également des paragraphes d'observations, dont les principales tiennent à la continuité de l'exploitation et à l'exposition de ces firmes aux décisions des autorités. |
| Keywords: | state owned companies,audit reports,modified opinions,emphasis of matter paragraph,firmes d’état,rapport d’audit,opinions modifiées,paragraphe d’observations |
| Date: | 2018–05–16 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01907906&r=tra |
| By: | Xiang, C.; Huang, J. |
| Abstract: | Wheat is the second most important food crop in China. Its yield has increased significant due to modern breeding program since early 1980s. This study examines the contribution of exotic wheat germplasm to wheat varieties and production in China. Using a unique dataset on major wheat varieties adopted by farmers and their pedigree in 17 major wheat production provinces in the past three decades, the results show that exotic germplasm from CIMMYT and other countries as a whole made a significant part of wheat varieties in China. Compared with the varieties with only Chinese germplasm that have increased by 111% in 1982-2014, varieties with exotic germplasm normally had higher yield, particularly for those with both local and exotic germplasm. The econometric analysis further confirms that, compared with the varieties with Chinese germplasm only, the varieties with exotic germplasm have contributed higher yield. While additional increase in wheat yield from CIMMYT and other countries germplasm were 2% and 0.2%, respectively, in 1982-2014, their contributions to average annual actual yield were 63 kg/ha from CIMMYT and 323 kg/ha from other countries in past three decades. The paper concludes with policy implications for plant breeding and policy makers in China. Acknowledgement : This research was supported by a grant from the CGIAR Research Program on Wheat (A4031.09.25), the National Natural Science Foundation of China (71333013 and 71303228), and National Platform for Sharing S&T Resources -- Crop Germplasm Resource (NICGR2017-97). |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277017&r=tra |
| By: | Pokrivcak, J.; Michalek, J.; Ciaian, P. |
| Abstract: | This paper 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. First, our results show that belonging to a PO improves the economic performance of farms in Slovakia. Second, 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. Acknowledgement : The authors acknowledge the financial support from the Slovak Research and Development Agency (Grant No. APVV-16-0321) and the Czech Science Foundation (GACR) (Grant No. 16-02760S). The authors are solely responsible for the content of the paper. The views expressed are purely those of the authors and may not in any circumstances be regarded as stating an official position of the European Commission. |
| Keywords: | Farm Management |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277485&r=tra |
| By: | Karol Szomolányi (University of Economics in Bratislava); Martin Luká?ik (University of Economics in Bratislava); Adriana Luká?iková (University of Economics in Bratislava) |
| Abstract: | The elasticity of substitution between capital and labor in Slovak economy is estimated in the paper. To avoid normalization of the constant elasticity substitution production function problem, we focus in the capital and labor demand specification. Data series of capital, labor, output and their prices gathered from the National Bank of Slovakia macroeconomic database are used. To abstract from the business cycle shocks, data are modified by frequency filters. Finally, to avoid a false regression, the specifications are differenced. Since we do not reject the correlation between error terms of the specification, we use the seemingly unrelated regression method to estimate the coefficients. In result the estimated elasticity of substitution in the Slovak economy is relatively small; its value ranges from 0.03 to 0.11. |
| Keywords: | elasticity of the input substitution, seemingly unrelated regression model, frequency filter |
| JEL: | C32 E23 E25 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910155&r=tra |
| By: | Hou, L.; Min, S.; Huang, Q.; Huang, J. |
| Abstract: | With a large-scale household survey data of maize farmers in China, this study examines how farmers perceptions of drought severity influence their adaptation strategies using endogenous switching probit models. Both ex ante and ex post adaptations are modeled. The empirical results first suggest that the impacts of farmers perceptions of drought severity on their ex ante and ex post adaptive behaviors are different. A farmer perceiving an increasing trend of drought severity has a 7.3% higher probability to use drought tolerant variety as ex ante adaptation, while a 4.8% higher probability of irrigation than those of other farmers. On average, farmers who use drought tolerant maize variety have a 18% lower probability to irrigate, which indicates that the ex-ante adaptation, using drought tolerant maize variety, reduces the need to irrigate as ex-post reaction to drought. Our results lend more support to the importance of farmers perceptions of drought severity to their adaptations. Our results also the importance in considering both ex ante and ex post adaptations in policy making. Acknowledgement : This work was supported by the National Natural Sciences Foundation of China (71773003, 71303226, 71742002), the Ministry of Science and Technology, China (2012CB955700). |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277208&r=tra |
| By: | Egor Krivosheya (Moscow school of management SKOLKOVO, National Research University Higher School of Economics, Russian Federation) |
| Abstract: | This research examines the role of network externalities in card acceptance by merchants on the retail payments market in Russia. The work empirically tests the effects of both direct and indirect network externalities for the merchants? card acceptance probability based on the representative survey of 800 traditional (offline) merchants from all Russian regions. The main finding of this study is that the probability of cashless payments acceptance by merchants increases with the presence of direct and indirect or both types of network externalities, controlling for a large set of control variables, including merchants? characteristics and location-specific differences between the retailers. The results are robust to the changes in measures of network externalities and inclusion of shadow economy controls. The findings are significant both statistically and economically. |
| Keywords: | Retail payments; payment cards; network effects; merchants' acceptance; financial services |
| JEL: | G21 E42 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910312&r=tra |
| By: | Andrea Cecrdlova (University of Economics in Prague) |
| Abstract: | During the last crisis monetary authorities hit zero interest rates and as a result they began to use less standard instruments. However, they failed to meet the declared inflation target for a long time. The Czech National Bank (CNB) decided to use the unconventional instrument in November 2013 when the exchange rate commitment was introduced. The aim of the paper is to evaluate the decision to use the exchange rate commitment with regard to its potential side effects. The most significant side effect is the enormous amount of foreign exchange reserves, which, due to the appreciation of the domestic currency, can get the CNB into more cumulative negative values than it already is. |
| Keywords: | CNB, monetary policy, unconventional monetary instruments, foreign exchange interventions, foreign exchange reserves. |
| JEL: | E31 E52 E58 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910191&r=tra |
| By: | Vincent Chatellier (SMART - Structures et Marché Agricoles, Ressources et Territoires - INRA - Institut National de la Recherche Agronomique - AGROCAMPUS OUEST); Thierry Pouch (URCA - Université de Reims Champagne Ardenne, APCA - Assemblée Permanente des Chambres d'Agriculture); Cecile Le Roy (SMART - Structures et Marché Agricoles, Ressources et Territoires - INRA - Institut National de la Recherche Agronomique - AGROCAMPUS OUEST); Quentin Mathieu (APCA - Assemblée Permanente des Chambres d'Agriculture) |
| 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, 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…) had, even before the embargo imposed in August 2014, led to a substantial loss of European exports to Russia. Since the embargo has been effective, Russia is no longer a privileged partner for European animal production. 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 article 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 and four animal sectors: milk and milk products, beef and veal, poultry meat and pork. |
| Abstract: | La Russie fut pendant de nombreuses années un débouché important de l'Union européenne (UE) dans le domaine agroalimentaire. À la suite de l'éclatement de l'Union des Républiques Socialistes et Soviétiques (URSS) en 1991, l'agriculture russe jusqu'alors dominée par des sovkhozes et des kolkhozes, a en effet subi une baisse drastique de sa production intérieure, notamment en productions animales. Depuis une quinzaine d'années, et moyennant une politique favorable à l'investissement en agriculture, surtout dans des complexes agroindustriels où le modèle de l'intégration prévaut, la production agricole progresse rapidement, du moins dans certaines filières dont celles des céréales, de la viande de volailles et de la viande porcine. Ce développement de l'offre intérieure et la diversification des pays fournisseurs (dont les États-Unis, le Brésil…) ont, avant même l'embargo appliqué depuis août 2014, entraîné une perte substantielle des exportations européennes vers la Russie. L'embargo ayant été efficace, la Russie ne constitue plus un partenaire privilégié pour les productions animales européennes. Grâce à la croissance des importations dans plusieurs pays asiatiques, surtout vers la Chine, plusieurs filières animales européennes sont néanmoins parvenues, en dépit de la fermeture de ce marché, à augmenter leurs exportations. Cet article traite, tout d'abord, des principales étapes de la politique agricole et commerciale russe, du développement des productions agricoles dans ce pays et des conditions de la mise en oeuvre de l'embargo. Moyennant la valorisation des données statistiques des douanes (bases de données BACI et COMEXT) sur la période 2000 à 2016, il discute ensuite de l'évolution des courants d'échanges consécutive à la mise en oeuvre de l'embargo, en insistant surtout sur la relation bilatérale de la Russie avec l'UE pour quatre filières animales : le lait et les produits laitiers, la viande bovine, la viande de volailles et la viande porcine. |
| Keywords: | Russia,import ban,competitiveness,trade,animal production,livestock farms,russie,embargo,échange commercial,production animale,compétitivité |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01908163&r=tra |
| By: | He, Huajing (University of Essex); Nolen, Patrick J. (University of Essex) |
| Abstract: | This paper estimates the impact of a health insurance reform on health outcomes in urban China. Using the China Health and Nutrition Survey we find that this reform increases the rate of health insurance coverage significantly among workers in Non-State Owned Enterprises. The double difference (DD) estimations show that the reform also leads to better health outcomes: workers are less likely to get sick and more likely to use preventive care. Using an instrumental variable (IV) approach to look at the causal effect of health insurance, we find those with health insurance use more preventive care but do not report significantly better health outcomes, an increase in health care utilisation, or an increase in out-of-pocket medical expenditure. |
| Keywords: | health insurance reform, health outcomes, China |
| JEL: | H51 H43 O2 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11892&r=tra |
| By: | Wang, W.; Wei, L. |
| Abstract: | Based on the research of Thompson et al. (2002), this paper developed a nonlinear commodity market model to analyze the impacts of China s soybean price control policy on price and welfare. A structural model of China soybean economy and its links to the rest of the world is established to analyze the impacts of policy on the variance of domestic price. Also, a Monte Carlo simulation is adopted to evaluate the domestic welfare change and its distributional effects. Results showed that the policy failed to reduce volatility of domestic price. Its stabilizing effects were offset by increases in world volatility due to the high degree of integration between domestic and international market. An inverse U-type relationship appeared between the price transmission elasticity and the domestic price volatility. The policy led to a net welfare increase to producers in China and a net welfare gain in exporting countries at the expense of loss of consumer welfare and huge budgetary costs. Acknowledgement : My deepest gratitude goes first and foremost to Professor Longbao Wei, my tutor, for his constant encouragement and guidance. He has walked me through all the stages of the writing of this thesis. Second, I would like to express my heartfelt gratitude to my friends and my fellow classmates who gave me their help and time in listening to me and helping me work out my problems during the difficult course of the thesis. Last my thanks would go to my beloved family for their loving considerations and great confidence in me. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277342&r=tra |
| By: | Olga Alipova (National Research University Higher School of Economics); Lada Litvinova (National Research University Higher School of Economics); Andrey Lovakov (National Research University Higher School of Economics); Maria Yudkevich (National Research University Higher School of Economics) |
| Abstract: | This paper studies the publication productivity of inbreds and non-inbreds among Russian academics. The literature provides ambiguous results on the relationship between inbred status and productivity. This may be explained by the focus on different segments of academia as well as by using different indicators for measuring publication productivity. We exploit data from 3 datasets covering different segments of the academic population and included different indicators of the publication productivity to see whether inbreds and non-inbreds differ in their productivity. We did not find any difference in current publication productivity between s and non-inbreds. We found, however, a difference between inbreds and non-inbreds in whole career publication productivity; non-inbreds are more productive on an individual level. While focusing on Russian data, an analysis of the 3 datasets suggests an explanation for the contradictory existing results on the relationship between academic inbreeding and productivity in general. |
| Keywords: | academic profession, academic inbreeding, academic productivity, publication activity, Russia. |
| JEL: | I21 I23 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:48edu2018&r=tra |
| By: | PI-HSIA YEN (Yu Da University of Science and Technology) |
| Abstract: | This paper test of the disposition and house money effect across market states in the context of mutual fund investors in China, based on a sample period that extends from January 2006 to December 2017. Previous studies primarily document the existence of the disposition effect in China without addressing: first, the impact of market states (bullish, bearish and neutral market) on the investors? disposition effect; and, second, we separate the fund performance according to the different levels of gains and losses. Our results suggest that investors are characterized by a house money effect when they have extreme capital gains under a bull market, and investors are characterized by an inverse disposition effect (they redeem their losing mutual fund units) when they have moderate capital losses under a neutral market. Thus, disposition effect is not uniform; it varies across market states in China. Our findings are robust to aggregate, investor levels, and the others robustness testing factors. |
| Keywords: | disposition effect; mutual fund investors; market states; house money effect, China |
| JEL: | G02 G10 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910161&r=tra |
| By: | Tommaso Agasisti (Politecnico di Milano School of Managementcs); Ekaterina Shibanova (National Research University Higher School of Economics); Daria Platonova (National Research University Higher School of Economics); Mikhail Lisyutkin (National Research University Higher School of Economics) |
| Abstract: | This research studies the short-term effects of the Russian Excellence Initiative Project 5to100 on participating universities. To trace the effect, we develop a quasi-experimental econometric methodology. A control group of universities comparable to the Project 5to100 universities at the starting point of the program’s implementation was singled out using propensity score matching. Data envelopment analysis was conducted, and the Malmquist productivity index was calculated to trace how and why the efficiency of the “participants” and “non-participants” of the Project 5to100 has changed due to the project. We also investigate the direct impact of the policy on the research productivity of universities, using the average treatment effect, and difference-in-difference approaches. The final step consists of an explanatory analysis of the factors apart from the policy potentially affecting efficiency scores. We find statistically significant positive effects of the policy both on the productivity and on the efficiency of the participating universities. |
| Keywords: | efficiency in higher education; excellence initiative; management of universities; data envelopment analysis; Tobit regression; Malmquist index |
| JEL: | I23 I28 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:201/ec/2018&r=tra |
| By: | Fang, Y.; Zhao, Q. |
| Abstract: | The main goal of this paper is to identify what will affect a child s decision of choosing someone as a good friend, and further, to identify why some children have been chosen as others best friends more than once, which means popularity. We draw on a dataset with 11889 observations by conducting a series of standard tests in 2017 spanning 4 provinces in China. We use cognitive (standard math score) and non-cognitive performance (esteem, depression, and grit) and appearance (HAZ and whether the student is overweight) as our key explanatory variables, and we standardized these key variables to identify which factor contributes to the decision of choosing friends and which contributes more while choosing friends. Our first finding shows that math score, depression and whether the student is overweight significantly contribute to the decision of choosing friends. The children who do better in math, have lower tendency to depression and not overweight will have 4.9%, 2.2% and 2.4% higher possibility to be chosen as friends than their counterparts, respectively. Furthermore, when considering popularity of children, we find the similar results. The two main findings show that one may become more popular if he has higher cognitive ability and good appearance. Acknowledgement : We gratefully acknowledge the financial support by National Science Foundation of China (Grants: 71603261); The Ministry of education of Humanities and Social Science project (Grants: 16YJC880107). |
| Keywords: | Labor and Human Capital |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277188&r=tra |
| By: | Jiang, Y.; Wang, H.H.; Jin, S. |
| Abstract: | With the booming of e-commerce, consumers are turning to online markets for food. Among all countries, China has the largest food online buyers with 0.541 billion consumers shopping for food online. Thanks to the free services provided by multiple e-commerce and social platforms and to the developed delivery networks, farmers can sell their products online at low transition cost in China. Meanwhile, the capacities of online stores to highlight traceablity and production process and of platforms to reveal quality signals through consumer s reviewing and scoring systems, can decrease asymmetric information about food product quality and safety compared with offline markets. Thus, those special features of online market may in return to encourage farmers to change their marketing plans to sell more safe food online. Our paper uses choice experiment method to solicit farmers different production and marketing preferences, and finds that farmers perceive higher rewards selling safer products than conventional products when using e-commerce platforms, an evidence supporting the positive impact of online market channel on the supply of safer food. Acknowledgement : Acknowledgments The authors would like to thank China Rural Household Panel Survey (CRHPS) for their helpful support. We also gratefully acknowledge the support from China Academy for Rural Development, Zhejiang University. |
| Keywords: | Food Consumption/Nutrition/Food Safety |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277200&r=tra |
| By: | Li, Yanan (Beijing Normal University); Kanbur, Ravi (Cornell University); Lin, Carl (Bucknell University) |
| Abstract: | The theory of fiscal and regulatory competition between jurisdictions is more advanced than its empirical testing. This is particularly true of labor regulation in general, and minimum wage regulation in particular, and especially so for developing countries. This paper utilizes the spatial lag methodology to study city-level strategic interactions in setting and enforcing minimum wage standards during 2004-2012 in China. We manually collect a panel data set of city-level minimum wage standards from China's government websites. This analysis finds strong evidence of spatial interdependence in minimum wage standards and enforcement among main cities in China. If other cities decrease minimum wage standards by 1 RMB, the host city will decrease its standard by about 0.7-3.2 RMB. If the violation rate in other cities increases by 1 percent, the host city will respond by an increase of roughly 0.4-1.0 percentage points. The results are robust to using three estimation methods, Maximum Likelihood, IV/GMM and a dynamic panel data model. Our findings of strategic interactions suggest the need for policy coordination in labor regulation in China. |
| Keywords: | minimum wage, enforcement, race to the bottom, strategic interactions, China |
| JEL: | J38 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11893&r=tra |
| By: | International Monetary Fund |
| Abstract: | Macedonia is making a concerted effort to enhance its fiscal transparency practices. The government has placed improving the quality and transparency of public institutions at the core of its 2018–21 Public Financial Management (PFM) Reform Program. Some progress has been made, particularly on increasing the availability of information on the use of public resources during the year, and further initiatives are underway to strengthen the medium-term focus and policy orientation of the budget as well as the legal framework for budget formulation and reporting. Further compliance with the European Union’s fiscal reporting requirements, as a candidate country for EU membership, will also strengthen transparency. |
| Date: | 2018–10–29 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:18/299&r=tra |
| By: | Sun, S.; Zhang, C.; Hu, R. |
| Abstract: | Despite the contribution of pesticide use to agricultural production, the negative externalities due to pesticide overuse increasingly concern the public. As the largest pesticide user, China aims to reduce its pesticide use in agriculture. However, the empirical analysis on the driving forces of pesticide use and to what extent pesticides are overused across different crops is far from enough. This paper aims to investigate the determinants and overuse of pesticides in grain production in China using provincial data. The results suggest that the prices of pesticides and grain products show a negative and positive relationship with pesticide use, respectively. The public agricultural extension system reform induces an increase in pesticide use. The estimation of a damage-control production function illustrates that pesticides significantly increase grain productivity but are commonly overused in grain production. It implies that the government's policy options with regard to the prices of pesticides and grain products as well as reform of agricultural extension system have played a crucial role in forming pesticide overuse in grain production in China. Acknowledgement : This study was supported by the National Natural Science Foundation of China [grant number 71333006], the Ministry of Science and Technology of China [grant number 2016YFD0201301] and the Beijing Institute of Technology [grant number 20172242001]. |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276978&r=tra |
| By: | Bozena Kaderabkova (The University of Economics, Prague); Emilie Jasova (The University of Economics) |
| Abstract: | The aim of the paper is to apply a set of internationally used methods to estimate NAIRU in countries of the Visegrad Group. The analysis is focused on estimation of the time varying NAIRU that best describes development in the countries during a period of transition from one political-economic system to another and development in a period of major fluctuations in the economy as well as those caused by the financial, economic and debt crisis. Our attention was paid to localization of unstable period, the reasons for their creation, their way of expression and the duration on the labour market. The Stochastic method in the Czech Republic point the remarkable negative unemployment gap in period from the 4th quarter of 1996 to the 1st quarter of 1998. The authors analysed the ability of the methods to estimate the influence of V4 countries economy transformation in accordance with the real data. |
| Keywords: | Phillips curve; NAIRU; HP filter; Kalman filter; Stochastic trend; Unemployment gap. |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910442&r=tra |
| By: | András Bebes (Government Debt Management Agency Pte. Ltd.); Dávid Tran (Government Debt Management Agency Pte. Ltd.); László Bebesi (UniCredit Hungary) |
| Abstract: | We construct an optimal debt portfolio model with the purpose of optimizing the Hungarian government debt portfolio. To analyze the characteristics of the costs and corresponding risk factors of the Hungarian debt portfolio we simulate issuances of chosen instruments on a specified time horizon. We apply a multiobjective optimization scheme to construct compositions of financing that minimize the costs and risks of the debt portfolio. Our purpose is to find the set of Pareto-optimal solutions that minimize expected costs, volatility of costs and refinancing risks while maximizing average time to re-fixing. The results of the multiobjective optimization can be used to help in constructing a medium term debt management strategy. |
| Keywords: | Multiobjectiove Optimization, Portfolio Optimization, Government Debt Management |
| JEL: | C61 G17 H63 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910176&r=tra |
| By: | Kvartiuk, V.; Herzfeld, T.; Ghukasyan, S. |
| Abstract: | Agricultural policy s support to farmers, measured in real terms, differs considerably across Russian regions. What explains these large differences in regional agricultural support? We argue that traditional approaches of agricultural economics cannot fully explain this variation and we draw upon the political eocnomy literature. In particular, we explain allocation and distribution of agricultural subsidies studying the incentives of federal and regional politicians. Electoral pressures arising from competing with other political parties may push federal politicians to target either loyal or easily swayed voters and regional ones to strategically target special interst groups. Vertical organization of the Russian dominant party may generate perverse accountability links between local governors and regional agricultural interest groups. We utlize a unique dataset on the agricultural subsidies in 2008-2015 in order to test the hypotheses. The evidence suggests that federal government targets swing regions in distributing agricultural subsidies and local governments are more likely to allocate larger co-funding shares facing higher political competition in the region. In addition, regions with better organized large-scale agricultural producers and elected governors are more successful in maximizing obtained agricultural subsidies from the federal level. Acknowledgement : |
| Keywords: | Political Economy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277040&r=tra |
| By: | Ganiev, Ibragim; Sanaev, Golib; Pardaev, Khusniddin |
| Abstract: | Since national independence, the government of Uzbekistan has been paying attention to developing its education system, including agriculture. A number of regulations have been adopted in order to address the problems in education. Among these, the Law on Education (1997) and the National Training Programme (1997) are the main two regulations adopted to address issues related to the national educational system of Uzbekistan. Nevertheless, a problem of a lack of qualified agricultural personnel in rural areas still exists, and the majority of young cadres try to find jobs in cities. This analytical study aims to analyze the motivation, aspirations, and career expectations of undergraduate and graduate students of Samarkand Agricultural Institute. In the first part of the analytical study, we review the agricultural education system and underlying policies in Uzbekistan by dividing them into pre- and post-independence periods. In the second part, we discuss the survey results of 400 undergraduate and 50 graduate students from Samarkand Agricultural Institute. The results reveal that half of observed students did not make a career choice yet and face uncertainties in employment decisions. Compared with undergraduate students, the share of graduate students wishing to continue their education (doing a PhD) was higher. The following recommendations are given: (i) agricultural vocational/professional colleges and agricultural universities should collaborate in teaching students. Also, college and university staff members should cooperate with industries and farmers to develop employment opportunities for graduates in rural areas. (ii) Economic incentives based on higher ages/salaries are very important to attract more qualified specialists to rural areas, hence policymakers should consider this issue in a broader way. Developing extension service organizations can be an option where qualified staff will be needed. Availability of good rural infrastructure for graduates from agricultural universities can encourage students to stay in rural areas. |
| Keywords: | Labor and Human Capital, Teaching/Communication/Extension/Profession |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iamodp:280329&r=tra |
| By: | Isabella M Weber; Gregor Semieniuk (Institute of Management Studies, Goldsmiths, University of London, UK) |
| Abstract: | American radical economists in the 1960s perceived China under Maoism as an important experiment in creating a new society, aspects of which they hoped could serve as a model for the developing world. But the knowledge of ‘actually existing Maoism’ was very limited due to the mutual isolation between China and the US. This paper analyses the First Friendship Delegation of American Radical Political Economists (FFDARPE) to the People’s Republic of China in 1972, consisting mainly of Union for Radical Political Economics (URPE) members, which was the first visit of a group of American economists to China since 1949. Based on interviews with trip participants as well as archival and published material, this paper studies what we can learn about the engagement with Maoism by American radical economists from their dialogues with Chinese hosts, from their on-the-ground observations, and their reflection upon return. We show how the visitors’ own ideas conflicted and intersected with their perception of the Maoist practice on gender relations; workers’ management and life in the communes. We also shed light on the diverging conceptions of the role for economic expertise between URPE and late Maoism. As the first in-depth study on the FFDARPE we provide rich empirical insights into an ice-breaking event in the larger process of normalization in the Sino- U.S relations, that ultimately led to the disillusionment of the Left with China. |
| Keywords: | China; socialism and capitalism; transition economics; Maoism |
| JEL: | B24 N15 N45 O10 P21 P32 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:soa:wpaper:212&r=tra |
| By: | Chen, Y.; Chen, K.; Zhong, F. |
| Abstract: | Individual farmers have been entitled to lease farmland in China since 2003. During the same period, China has undergone a rapid urbanization, causing farmers to leave their lands. In 2004, the government introduced farm subsidies nationwide to encourage farming. This paper represents the very first attempt to examine the impact of farm subsidies on farmland cash rents in China. We construct a farmland rental model to account for imperfect competitions due to insecure property rights. This model is estimated using information from 5,041 households in China over the 2004-2013 period. Estimation results show that farm subsidies have a positive and statistically significant impact on farmland rents. The incidence of farm subsidies on farmland rents is estimated to be 0.45, which suggests that farmland tenants capture 55 percent of the subsidy, leaving 45 percent for landlords. This implies that farm subsidy policies exhibit substantial distributional effects. In addition, urbanization and market returns are also found to have a positive relationship with farmland rents, which is consistent with previous literature. Acknowledgement : Financial support of the NSFC (National Natural Science Foundation of China)-CGIAR (Consultative Group for International Agricultural Research) Program is gratefully acknowledged. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277513&r=tra |
| By: | Tan, S.; Liu, B.; Hannaway, D. |
| Abstract: | The land rental market is critical for herders to obtain access to land resources. However, in contrast to the numerous studies on the farmland rental market, few studies have focused on the grassland rental market, and analyses of younger herders land renting behaviors from the perspective of social capital are even more rare. This paper addresses three questions: First, what is the current situation regarding younger herders participation? Second, does social capital influence herders renting decisions? Third, is there a difference of herder age on the influence of social capital on grassland renting decisions? Probit model was conducted with data collected from 422 herder households in Inner Mongolia, P.R. China. Findings suggested that 1) Younger herders grassland rental behaviors presented the coexistence of high participation rate and high rental price . 2) An inverse U-shape relationship existed between age and herders land rental decisions; 3) Compared with older herders, social capital played a relatively weak role in promoting the ability of younger herders to rent grassland. Acknowledgement : The authors thank the Foundation of Renmin University of China (16XNI004) for its support and thank colleagues and students from Renmin University of China and Inner Mongolia University for their participation in the field surveys. |
| Keywords: | Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277034&r=tra |
| By: | Naubahar Sharif (Associate Professor， Division of Social Science and Public Policy, Hong Kong University of Science and Technology; Institute for Emerging Market Studies, Hong Kong University of Science and Technology) |
| Abstract: | Professor Naubahar Sharif, Faculty Associate at the Institute, offers insights on the high value of Chinese Patent. Quadic" patents add a fourth country to the global (OECD) standard of triadic patents: where companies file for patents in the U.S., Europe, and Japan. China has become the default fourth country in quadic patent filings made by multinational corporations. To secure its position among the U.S., European, and Japanese patent offices in quadic patents, China must enhance its intellectual property rights protection regime. |
| Keywords: | patent, global economic power, china, multinational corporations |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:hku:briefs:201824&r=tra |
| By: | Jak?a Kri?to (University of Zagreb Faculty of Economics and Business); Alen Stojanovi? (University of Zagreb Faculty of Economics and Business); August Cesarec (University of Zagreb Faculty of Economics and Business) |
| Abstract: | Banking credit policy is an important pillar of the economic development of a country as well as countries narrower territorial units. Regional development is often based on comprehensive government and municipal policy, geographical and demographic characteristics, statistical classification, a role of different government agencies but also of a financial institutions business policy. The goal of this paper is to compare level of economic development with a banking loan activities in case of Croatian counties. The paper is analysing banking loan activities based on loan to deposit ratio, relative size of banking loan activities on a county level as well as currency and type of a loan structure of banking loan portfolio. Indicators of banking loan activities are compared with counties economic development using non-hierarchical k-means cluster analysis. Research in a paper is looking for an answer to what extent are seen similarities of economic development of Croatian counties and total banking loan activities. In this sense paper is comparing two methodologies, regional development measurement and characteristics of banking loan business. |
| Keywords: | regional development, banking loans, regional financial intermediation, counties, Croatia |
| JEL: | G21 O16 R10 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6910182&r=tra |
| By: | Anita Angelovska–Bezhoska (National Bank of Republic of Macedonia); Ana Mitreska (National Bank of Republic of Macedonia); Sultanija Bojcheva-Terzijan (National Bank of Republic of Macedonia) |
| Abstract: | This paper attempts to empirically assess the impact of the ECB’s quantitative easing policy on capital flows in the countries of the Central and South Eastern region. Given the tight trade and financial linkages of the region with the euro area, one should expect that the buoyant liquidity provided by the ECB might affect the size of the capital inflows. We test this hypothesis by employing panel estimation on a sample of 14 countries CESEE countries for the 2003-2015 period. Contrary to the expected outcome, the results reveal either negative or insignificant impact of the change in the ECB balance sheet on the different types of capital inflows. The results suggest that the magnitude of the crisis, to which the ECB responded to was immense, hence precluding any significant impact of the monetary easing on capital flows in the region. The inclusion of a dummy in the model, to control for the 2008 crisis confirms the findings from the first specification and also does not change the finding on the ECB quantitative easing impact on the capital flows. The impact of the crisis dummy on capital flows is negative and it holds for almost all types of capital inflows, except for the government debt flows, which is consistent with the countercyclical fiscal policies and rising public debt after the crisis. |
| Keywords: | quantitative easing polices, ECB, capital flows, CESEE countries, panel estimates, mean group estimator |
| JEL: | E43 F21 C33 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:mae:wpaper:2018-04&r=tra |
| By: | Shi, X.; Zhou, Y.; Heerink, N.; Ma, X. |
| Abstract: | This study aims to identify the mechanisms through which land tenure governance affects grain efficiency in an integrated framework and to examine the impacts of the public governance, village self-governance, and relational governance of land tenure on the technical efficiency of contracted land and rented-in land. Farm level survey data collected from Liaoning, Jiangxi, and Jiangsu provinces covering the years of 2014 and 2015 is used for the empirical analysis. The findings indicate that (i) public governance associated with land certification significantly increases the technical efficiency of grain production; (ii) village self-governance and administrative land reallocations can serve as substitutes for the land rental market in optimizing the distribution of land resources and improving technical efficiency; and (iii) compared to multi-year transfer contracts, both annual and open-ended transfer contracts have negative impacts on technical efficiency. Keywords: land tenure governance, tenure security, technical efficiency, China Acknowledgement : Financial support for this paper has been gratefully received from the Natural Science Foundation of China (71373127, 71573134, 71773054 and 71603121) and the Postdoctoral Science Foundation of China (2016M601839). |
| Keywords: | Land Economics/Use |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277477&r=tra |
| By: | Marija Becic (Department of Economics and Business Economics, University of Dubrovnik); Perica Vojinic (Department of Economics and Business Economics, University of Dubrovnik) |
| Abstract: | The aim of this paper is to explore whether the gender of top manager plays an important role in innovation activities in selected CEE countries. For this purpose, a framework of logistic binary regressions is applied to the firm-level data from Business Environment and Enterprise Performance Survey (BEEPS). The research assesses the differences in firm innovation activities in CEECs considering the gender structure of the top management. Findings indicate that, on average, there is a lower possibility that a firm innovates when it is governed by a female manager. However, women in top management are underrepresented in all the industries but this is specially the case in highly innovative sectors such as IT industry. |
| Keywords: | process innovation, product innovation, gender diversity, top management, CEECs firms |
| JEL: | J16 O30 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:6909790&r=tra |
| By: | Zhigang, X.; Zongli, Z.; Funing, Z.; Junfei, B. |
| Abstract: | With household disposable income increase, the proportion of food away from home (FAFH) consumption rises rapidly in the total household food consumption. Consumer s plate waste has attracted increasing public, academic, and political attention in recent years. In order to understand the reason that cause plate clearly, this empirical study sheds light on the effect of preference for food variety and average portion size on the plate waste using survey data from 1340 tables of 161 restaurants in Beijing and Lhasa. The key finding suggests that income increase leads more preference for food variety when consumer dining out; and we verify that a consumer is more likely to waste food when variety preference increase by using dining reason as an instrument and average portion size of restaurant increase. Our result implys that the restaurant should reduce the average portion size of dish with residents' income increases, which can reduce the consumer s plate waste. This paper introduces the preference for food variety into the utility function, which makes the utility function of residents FAFH more perfect and more realistic, and we introduce an order decision into the analysis framework, which constitutes a two-step decision to plate waste. Acknowledgement : |
| Keywords: | Research Methods/ Statistical Methods |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276951&r=tra |