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on Transition Economics |
| By: | Vasily Astrov (The Vienna Institute for International Economic Studies, wiiw); Rumen Dobrinsky (The Vienna Institute for International Economic Studies, wiiw); Richard Grieveson (The Vienna Institute for International Economic Studies, wiiw); Doris Hanzl-Weiss (The Vienna Institute for International Economic Studies, wiiw); Peter Havlik (The Vienna Institute for International Economic Studies, wiiw); Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Sebastian Leitner (The Vienna Institute for International Economic Studies, wiiw); Isilda Mara (The Vienna Institute for International Economic Studies, wiiw); Olga Pindyuk (The Vienna Institute for International Economic Studies, wiiw); Leon Podkaminer (The Vienna Institute for International Economic Studies, wiiw); Sandor Richter (The Vienna Institute for International Economic Studies, wiiw); Hermine Vidovic (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | Central, East and Southeast Europe Recent Economic Developments and Forecast Table Overview 2016-2017 and outlook 2018-2020 (p. 1) Figures GDP growth in 2017-2020 and contribution of individual demand components in percentage points (p. 2) Albania Overvalued domestic currency (by Isilda Mara; p. 3) Belarus Unexpected surge in economic activity (by Rumen Dobrinsky; p. 4) Bosnia and Herzegovina Risks high ahead of election (by Richard Grieveson; p. 5) Bulgaria Past the peak of the cycle? (by Rumen Dobrinsky; p. 6) Croatia Investments subdued (by Hermine Vidovic; p. 7) Czech Republic Balanced and moderate growth (by Leon Podkaminer; p. 8) Estonia Growth boosted by internal demand (by Sebastian Leitner; p. 9) Hungary Strong expansion on fragile fundaments (by Sándor Richter; p. 10) Kazakhstan Benefiting from high oil prices (by Olga Pindyuk; p. 11) Kosovo Growth accelerating amid political instability (by Isilda Mara; p. 12) Latvia Still riding high on the election and investment cycle but slowdown ahead (by Sebastian Leitner; p. 13) Lithuania Flourishing economy but lacking welfare state (by Sebastian Leitner; p. 14) Macedonia New name and improved connectivity may boost growth (by Peter Havlik; p. 15) Montenegro Stable outlook (by Olga Pindyuk; p. 16) Poland First clouds on the horizon (by Leon Podkaminer; p. 17) Romania Economic growth falters (by Gábor Hunya; p. 18) Russian Federation More of the same will not be helpful (by Peter Havlik; p. 19) Serbia Cautiously optimistic (by Richard Grieveson; p. 20) Slovakia Solid growth with extra kick from automotive industry (by Doris Hanzl-Weiss; p. 21) Slovenia Broad-based growth continues (by Hermine Vidovic; p. 22) Turkey Sailing close to the wind (by Richard Grieveson; p. 23) Ukraine Remittances offset growing trade deficit (by Vasily Astrov; p. 24) |
| Keywords: | economic forecasts, GDP, GDP growth, investment, consumer prices, unemployment, current account, household consumption, net exports, |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:wii:mpaper:mr:2018-06&r=all |
| By: | Panibratov, Andrei; Chen, Xinchuan |
| Abstract: | The paper provides the review of the role of informal institutions in two emerging market contexts, China and Russia, and identifies its influence on firms’ internationalization process. In the process of internationalization, Chinese and Russian firms have always been affected by their informal institutions. Informal institutions in Chinese and Russian context affect overseas operations such as production, sales, and service of the companies. The research claims that informal institutions such as values, ethics, and habits influence Chinese and Russian firms the process of internationalization in Russia and China but operate differently depending on the context that can be explained by a country specifics. By analyzing and comparing the influence of informal institutions on firm’s internationalization in researched countries, we re-evaluate its impact in emerging market countries. |
| Keywords: | informal institutions, internationalization, Russia, China, firms, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:15115&r=all |
| By: | Hasanov, Shavkat; Sanaev, Golib |
| Abstract: | Nonfarm employment plays an important role in absorbing unemployment in rural areas of developing countries. The agricultural transition in Uzbekistan followed by structural transformations in the economy changed the rural economy. Although farm restructuring and farm optimization policies led to agricultural growth, they had a negative impact on rural employment. The government of Uzbekistan promoted many policies to create jobs within the country. A presidential decree launched the State Program on Rural Development and Well-being in 2009, which played a crucial role in developing the economic and social infrastructure of rural areas. Small business and private entrepreneurship were given priority to absorb the rising unemployment, especially in rural areas. Against this background, the paper studies non-farm employment trends in rural areas of Samarkand region. In particular, we explore the main drivers of non-farm business development and its impact on rural employment in the Samarkand region. The main employment trends in rural areas of Samarkand region are described using statistical data. We also explore migration trends in Uzbekistan and Samarkand regions. A survey was conducted with 34 mahallas' (community) chairpersons and representatives to better analyze the intersectoral and international migration of the agricultural workforce. Although remittances are crucial in poverty alleviation of Central Asian countries, including Uzbekistan, the economic crisis in 2008-2009 in Russia cast a shadow on the further prospects of migration. We show how the development of non-agricultural business in the Samarkand region increased the incomes of the rural population. The agro-processing sector plays a vital role in creating clusters based on the agro-industrial complex, which in turn will create more opportunities for employment in rural areas of the country. |
| Keywords: | Employment,the Rural Nonfarm Economy (RNFE),Non-Agricultural Business,Rural Area,Samarkand Region |
| JEL: | P41 J60 J68 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iamodp:176&r=all |
| By: | Shi Li; Terry Sicular; Finn Tarp |
| Abstract: | In this paper we describe the major trends in China’s income inequality over the past 40 years and explain them as the outcome of four interleaved stories. The first story is a standard development story characterized by structural change, market development, labour absorption, and the Kuznets inverted-U path of inequality. The second is the economic transition story, in which changes in income distribution result from the shift from plan to market. Third is incomplete transition, with opportunities for rent-seeking, corruption, and hidden income. Fourth is the story of government efforts to moderate inequality through social and welfare policies. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2018-174&r=all |
| By: | Feng, Xunan (Shanghai University of Finance and Economics); Johansson , Anders C. (Stockholm China Economic Research Institute); Wang, Ying (Peking University) |
| Abstract: | We examine the nationalization of listed firms in China. Using a manually collected data set of 115 cases of ownership transfer from private to state control, we find that nationalization is positively associated with firm performance. When we analyze potential mechanisms through which nationalization may affect firm performance, we find a positive effect on benefits in the form of market power, government subsidies and bank financing. We also identify significant costs in the form of a higher tax burden, higher employment costs, and higher levels of corporate donations following nationalization. Finally, we show that weak local institutions exacerbate the influence nationalization has on firm performance and the benefits and costs tied to a shift to state control. These findings shed light on the effects when the government actively takes a more prominent role in the economy by becoming a controlling shareholder in large companies. |
| Keywords: | Nationalization; Political economy; Firm performance; Local institutions; China |
| JEL: | G32 G34 H11 P26 P31 |
| Date: | 2018–12–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:hascer:2018-051&r=all |
| By: | Konstantins Benkovskis (Bank of Latvia); Jaan Masso (University of Tarty); Olegs Tkacevs (Bank of Latvia); Priit Vahter (University of Tartu); Naomitsu Yashiro (Organisation for Economic Co-operation and Development) |
| Abstract: | This paper investigates the effect of export entry on productivity, employment and wages of Latvian and Estonian firms in the context of global value chains (GVCs). Like in many countries, exporting firms in Latvia and Estonia are more productive, larger, pay higher wages and are more capital-intensive than non-exporting firms. While this is partly because firms that are originally more productive and have better performances are more likely to enter exports, Latvian and Estonian firms also realise more than 23% and 14% higher labour productivity level respectively as the result of export entry. Export entry also increases employment and average wages. Gains in productivity and employment are particularly large when firms enter exports that are related to participation in knowledge-intensive activities found in the upstream of GVCs. For instance, Latvian firms that start exporting intermediate goods or non-transport services (which include knowledge-intensive services) enjoy significantly higher productivity gains than those starting to export final goods or transport services. These findings underscore the importance of innovation policies that strengthen firms' capabilities to supply highly differentiated knowledge-intensive goods and services to GVCs. |
| Keywords: | productivity, global value chain, exports, Latvia, Estonia |
| JEL: | F12 F14 O19 O57 |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:wpaper:201803&r=all |
| By: | Riabova Tatiana (Рябова, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)); Kashina Marina (Кашина, Марина) (The Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)) |
| Abstract: | Transformation of postgraduate programs into the third level of higher education actualizes issues of organizational and methodological support of the educational process of preparing of highly qualified personnel. 01.09.2015 the majority of the Federal State Educational Standards, which regulate higher education of the third level, have been enacted. It requires a fundamental restructuring of existing curricula, educational programs, creation of new forms of final certification. At the same time, the question about the distinctions between the second (Masters) and the third (postgraduate) levels of higher education remains open. From the author’s point of view, this distinction is not a formal, but it is the essential. This distinction be generated by differences in the tasks that need to be addressed at each of these levels. One level does not automatically replaces another. We can not say that the post-graduate student — is an improved Master’s. Masters of the economy should be able to manage the economic process, and “Researchers. Teachers-researchers “in” Economy “should be able to explore the fundamental and applied problems in various areas of the economy. This means that people who successfully complete the master’s degree does not automatically become a good researcher and a lecturer, but he (she) will be successful as a practices (manager). This hypothesis is tested the authors by comparing the Federal State Educational Standards postgraduate education and master. In particular, they compare the main characteristics of professional activity, the professional competences and the requirements for the final qualifying work of undergraduates and graduate students. |
| Keywords: | postgraduate education, high school, master’s education, professional competences, the Federal State Educational Standards |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:111801&r=all |
| By: | Kerola, Eeva |
| Abstract: | China’s official real GDP growth has held surprisingly stable in recent years. As national GDP figures influence both policy analysis and political decisions, the GDP growth rate of the massive Chinese economy has also great international implications. Taking the nominal GDP growth and price index data as given and experimenting with alternative deflators, this paper attempts to track missing fluctuations in real GDP growth in recent years. Based on the constructed growth series, real GDP growth decreased during 2015–2016 and picked up in 2017. Growth has been again decelerating this year. Furthermore, the constructed growth rate seems to be well below the recent official figures. |
| JEL: | C38 E01 E3 P2 |
| Date: | 2018–12–27 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2018_023&r=all |
| By: | Sona Benecka (Ceska Narodni Banka); Ludmila Fadejeva (Bank of Latvia); Martin Feldkircher (Oesterreichische Nationalbank) |
| Abstract: | This paper investigates the international effects of a euro area monetary policy shock, focusing on countries from Central, Eastern, and Southeastern Europe (CESEE). To that end, we use a global vector autoregressive (GVAR) model and employ shadow rates as a proxy for the monetary policy stance during normal and zero-lower-bound periods. We propose a new way of modelling euro area countries in a multi-country framework, accounting for joint monetary policy, and a novel approach to simultaneously identifying shocks. Our results show that in most euro area and CESEE countries prices adjust and output falls in response to a euro area monetary tightening, but with a substantial degree of heterogeneity. |
| Keywords: | euro area monetary policy, global vector autoregression, spillovers |
| JEL: | C32 F44 E32 O54 |
| Date: | 2018–10–18 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:wpaper:201804&r=all |
| By: | Feng, Xunan (Shanghai University of Finance and Economics); Johansson, Anders C. (Stockholm China Economic Research Institute) |
| Abstract: | This study examines how state versus private ownership and political participation by private entrepreneurs affect access to financing through the corporate bond market in China. We find that state ownership is positively related to the likelihood that a firm issues bonds and that firms controlled by ultimate owners who participate in politics are significantly more likely to issue bonds. We also show that state ownership as well as political participation by the ultimate owner is positively associated with the amount firms raise in bond offerings. Moreover, state firms characterized by over-investment tend to increase their excess investments after a bond offering. For under-investing private firms, existing suboptimal investment levels are alleviated by bond offerings. In addition, we find that private firms significantly increase their R&D investments after a public bond offering, especially those controlled by owners who participate in politics. Finally, bond offerings are associated with a significant decline in market value for SOEs. For firms controlled by an owner who participates in politics, the opposite holds true. These findings highlight the need to improve the existing credit allocation via the bond market and the important role political capital plays for private firms in China. |
| Keywords: | corporate bonds; bond issuance; SOEs; private firms; political participation; political connections; access to finance; China |
| JEL: | G10 G30 G32 L33 P20 |
| Date: | 2018–12–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:hascer:2018-050&r=all |
| 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 wages/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: | agricultural education,motivation,career expectations |
| JEL: | I20 I21 I23 I28 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iamodp:179&r=all |
| By: | Shuaizhang Feng (Jinan University); Xiaoyu Xia (Chinese University of Hong Kong) |
| Abstract: | China’s college expansion program, which was implemented in 1999 significantly increased the share of college-educated workers in the urban labor force. We find that returns to education were not responsive to changes in local skill supply be- tween then and 2009. To explain the trend, we develop a model of endogenous technology adoption and predict that increasing the share of college-educated work- ers leads firms to adjust their use of production technology. We construct supply shocks in local labor markets based on policy-driven variations in the changes of college enrollment quotas across cities. Using panel data from over 20,000 large manufacturing firms, we find that an enlarged college-educated labor force causes skill-intensive firms to invest more in capital and R&D as well as employ more workers, evidence that supports the theory of endogenous technology adoption. |
| Keywords: | human capital, endogenous technology adoption, college education, Chinese economy |
| JEL: | J24 I28 O32 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:hka:wpaper:2018-099&r=all |
| By: | Salvador Barrios (European Commission - JRC); Viginta Ivaskaite-Tamosiune (European Commission - JRC); Anamaria Maftei (European Commission - JRC); Edlira Narazani (European Commission - JRC); Janos Varga (European Commission - ECFIN) |
| Abstract: | Much of the literature on flat tax reforms has highlighted the benefits of introducing flat personal income tax systems in transition economies. The advocated benefits of flat tax systems range from their simplicity, higher compliance and lower distortionary effects on growth and employment. These arguments have often been cited to support policy recommendations favouring the adoption of flat tax systems in Central and Eastern European (CEE) countries in the 1990s and the 2000s. However since income inequality is notoriously high in these countries, the question of introducing some progressivity in the tax system has come to the fore in both policy and academic circles. In this paper, we analyse the fiscal, redistributive and macroeconomic impact of (re-) introducing progressivity in a number of CEE countries with flat tax systems. Combining microsimulation and macro models, we find that a significant reduction in income inequality can be achieved by moving from a flat to a progressive tax system with positive, albeit negligible, macroeconomic and employment impact. The magnitude of these effects depends on country-specificities and tax system characteristics, due in particular to the existence of tax allowances and tax credits. |
| Keywords: | Flat tax, microsimulation model, DSGE model, inequality progressivity, employment, growth |
| JEL: | H24 H31 I32 D63 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:taxref:201802&r=all |
| By: | Hasanova, Savia (Asian Development Bank Institute) |
| Abstract: | While financial inclusion is considered one of the key drivers of development today, it is quite new to the Kyrgyz Republic. The Kyrgyz Republic attempted to introduce the notion of financial inclusion after a violent power shift in 2010. The economy experienced an overall decline, the banking sector shrank, and financial intermediation slowed down. The National Bank introduced a number of regulatory measures to tighten the supervision of the financial sector and increase consumer protection. Some of the efforts have worked well: the banking sector has rebounded, savings have been mobilized, and financial markets have started developing. However, national development patterns, such as unstable economic growth, a high poverty rate, and weak governance are the key vulnerabilities for increasing inclusivity of financial products and services. Income inequality, especially when comparing rural versus urban areas, is substantial and restricts access to financial services for the rural population. Small and medium-sized enterprises face barriers for getting sufficient financing because of high collateral requirements. The population has a low level of financial literacy and is reluctant to use modern financial services. Our analysis suggests an urgent need for consolidated efforts to include more people and businesses into financial activities, mobilize their savings, and improve access to credit. |
| Keywords: | financial inclusion; financial institutions; government policy and regulation; economic development; financial markets; saving and capital investment; financial literacy; personal savings |
| JEL: | A20 D04 G02 G21 G28 O16 |
| Date: | 2018–07–05 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0850&r=all |
| By: | Łukasz Janikowski; Balazs Romhanyi |
| Abstract: | Unsustainability and procyclicality of fiscal policy are problems that many developed countries face. The public debt crisis revealed that fiscal rules are a useful but insufficient instrument for mitigating them. A large and growing group of economists are calling for the creation of ‘fiscal policy councils’ – independent collegial bodies made up of experts whose role is to act as independent reviewers of government policy and advise the government and parliament on fiscal policy. Such councils currently exist in at least 40 countries. Poland is the only EU country that does not have a fiscal policy council. The aim of this paper is to address the issue of whether a fiscal policy council is needed in Poland and what kind of additional contribution such a council might make to the public debate on fiscal policy. |
| Keywords: | fiscal council, fiscal rules, fiscal policy, sustainability, cyclical stance |
| JEL: | E62 H62 H63 |
| Date: | 2018–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:sec:mbanks:0157&r=all |
| By: | Szabolcs Nagy |
| Abstract: | We live in the Digital Age in which both economy and society have been transforming significantly. The Internet and the connected digital devices are inseparable parts of our daily life and the engine of the economic growth. In this paper, first I analyzed the status of digital economy and society in Hungary, then compared it with Ukraine and made conclusions regarding the future development tendencies. Using secondary data provided by the European Commission I investigated the five components of the Digital Economy and Society Index of Hungary. I performed cross country analysis to find out the significant differences between Ukraine and Hungary in terms of access to the Internet and device use including smartphones, computers and tablets. Based on my findings, I concluded that Hungary is more developed in terms of the significant parameters of the digital economy and society than Ukraine, but even Hungary is an emerging digital nation. Considering the high growth rate of Internet, tablet and smartphone penetration in both countries, I expect faster progress in the development of the digital economy and society in Hungary and Ukraine. |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1901.00283&r=all |
| By: | Selivanovskikh, L. |
| Abstract: | This paper presents a thorough analysis of different talent management practices implemented by local companies from Kazakhstan, Belarus and Ukraine. In particular, I pay special attention to the country-specific environments that shape the peculiarities of talent management practices and provide discussion about its future perspectives within the Commonwealth of Independent States (CIS) context. All of the case studies presented in this review illustrate how different companies from the specified countries deal with such key issues of talent management as the attraction, recruitment, indoctrination, development, motivation and retention of high-potential employees. Specifically, I demonstrate that organizations from Kazakhstan, Belarus, and Ukraine share a common feature of talent management policies, systems and practices being more formalized and highly regulated especially compared to Western – more developed – countries. It is also revealed that in Belarusian and Kazakhstani companies open performance appraisal systems are unpopular and performance-based remuneration mechanisms remain underdeveloped. Meanwhile, in Ukrainian companies, there are a persistence of elitist talent definitions and a preeminence of talent retention practices, whereas in Belarusian and Kazakhstani companies there is a prevalence of Universalist talent definitions, with former concentrating on specific aspects of talent management, i.e. the attraction, development or retention of young specialists, and the latter focusing more on talent development practices. Finally, I conclude by demonstrating that talent management is influenced by a number of factors, some of which are rather specific to Kazakhstan, Belarus and Ukraine, but at the same time can be featured as common for the CIS context. |
| Keywords: | talent management, CIS region, Belarus, Ukraine, Kazakhstan, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:15118&r=all |
| By: | International Monetary Fund |
| Abstract: | At the request of the Republic of Uzbekistan authorities for technical assistance (TA) on external sector statistics (ESS), and with the support of the Middle East and Central Asia Department (MCD) of the International Monetary Fund (IMF), a mission from the IMF Statistics Department (STA) visited Tashkent from November 20 through December 1, 2017. This was the first TA mission on ESS since the Republic of Uzbekistan Presidential Order of September 12, 2017, “On Measures to Ensure the Accessibility and Openness of Economic and Financial Data for the Republic of Uzbekistan” was issued. |
| Keywords: | Middle East;Uzbekistan; |
| Date: | 2018–11–14 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:18/326&r=all |
| By: | Klyachko, Tatiana (Клячко, Татьяна) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Avraamova, Elena (Авраамова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Loginov, Dmitriy (Логинов, Дмитрий) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Polushkina, Elena (Полушкина, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Semionova, Elena (Семионова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Tokareva, Galina (Токарева, Галина) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Interregional monitoring of the effectiveness of the school is conducted by the Center for Continuing Education Economics of the Institute of Applied Economic Research of the Russian Academy of National Economy and Public Service under the President of the Russian Federation. Within the monitoring, a sociological survey of the parents of students, teachers and school principals of different types of settlements in the subjects of the Russian Federation, differentiated according to the criteria of social and economic development is carried out. This issue presents the results of a survey of parents of schoolchildren held in Voronezh, Ivanovo, Sverdlovsk, Chelyabinsk regions, Altai and Stavropol regions in 2013-2017, revealing the respondents' attitude to the organization of additional education, its place in the system of educational results of schoolchildren. |
| Keywords: | MONITORING, EFFICIENCY OF SCHOOL EDUCATION, ADDITIONAL EDUCATION, FAMILIES OF SCHOOLCHILDREN |
| JEL: | I21 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:081801&r=all |
| By: | Bordunos, A.; Kosheleva, S. |
| Abstract: | Purpose: Current research explores what determines corporate Human Resource Management strategy (SHRM), proposing that external institutional pressure can limit firms’ freedom of choice. Design/methodology/approach: The illustrative context is the banking industry in Russia. With a focus on the disclosed SHRM, the research helped to ensure that a) most of the banks indeed were similar in SHRM, despite possibility of the alternative options; b) successful banks were more self-determined in SHRM choice; c) in both cases, this choice was not associated with the competitive advantage of the banks. Key methods: theoretical thematic analysis on a latent level and Human Capital Disclosure Index. Findings: Example of the Russian banking industry helped illustrating that institutional fit of SHRM was not a myth and should not be neglected. However, successful banks partly overcame high institutional predetermination: they recognized and utilized lack of coherence in the institutional system; therefore, institutional barriers became advantageous for them. Originality/value: The research shifted from a traditional positivist perspective with its practice-based approach to the interpretivist perspective, treating SHRM as a combination of three latent referent standards. It allowed shifting from the ongoing debate about what form of SHRM has higher influence on performance, intended or perceived; and about operationalizing its variety. Research implications: The results contribute to a wide range of research in Strategic Human Resource Management. The context plays illustrative role, thus findings can be tested outside the banking industry and Russian institutional environment. |
| Keywords: | HIWS, HCWS, HPWS, HRM, SHRM, Russia, emerging markets, banking, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:15107&r=all |
| By: | Zhihong Jian; Zhican Zhu; Jie Zhou; Shuai Wu |
| Abstract: | This paper studies the magnet effect of market-wide circuit breakers and examines its possible forms using high-frequency data from the Chinese stock index futures market. Unlike previous studies that mainly analyzed the price trend and volatility, this paper is the first to consider the intraday price jump behavior in studying the magnet effect. We find that when a market-wide trading halt is imminent, the probability of a price decrease and the level of market volatility remain stable. However, the conditional probability of observing a price jump increases significantly, leading to a higher possibility of triggering market-wide circuit breakers, which is in support of the magnet effect hypothesis. In addition, we find a significant increase in liquidity demand and insignificant change in liquidity supply ahead of a market-wide trading halt, suggesting that the deterioration of market liquidity may play an important role in explaining the magnet effect. |
| JEL: | G10 G12 G18 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:win:winwop:2018-01&r=all |
| By: | Vassiliki Koutsogeorgopoulou; Demetrio Guzzardi |
| Abstract: | Productivity growth in Lithuania has slowed in the aftermath of the global financial crisis,holding back income convergence and making it harder to reduce further the relatively highinequality and poverty. A comprehensive approach is required to address productivity andinclusiveness challenges, building on their synergies. The government has taken measuresto this end, with the New Social Model at the core, but efforts need to continue. Reformsshould focus on additional improvements in the business environment by easing furtherregulations on the employment of non-EU workers and reducing informality. Initiatives toimprove the governance of state-owned enterprises are welcome and need to continue.Improving access to finance and ensuring effective bankruptcy procedures are key toboosting firm dynamism, as are measures to encourage business-research sectorcollaboration on innovation. Addressing large skills mismatch is also a priority. Increasingthe market-relevance of the education system is important. More and better-quality jobs inthe formal sector, especially for the low-skilled, are key to inclusiveness and well-being,while more effective support and active labour market programmes would help combatingpoverty.This Working Paper relates to the 2018 OECD Economic Survey of Lithuania(www.oecd.org/eco/surveys/econo mic-survey-ireland.htm) |
| Keywords: | benefits, education, employment protection legistation, financing productivity, inclusiveness, inequality, innovation, Lithuania, poverty, skills mismatch |
| JEL: | D31 J24 I24 I30 J31 O31 |
| Date: | 2018–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1529-en&r=all |
| By: | Zou, Wei (Asian Development Bank Institute); Chen, Liangheng (Asian Development Bank Institute); Xiong, Junke (Asian Development Bank Institute) |
| Abstract: | We establish a general equilibrium trade model and adopt the “market access” approach to measure the impact of the high-speed railway (HSR) network on the economic growth of 110 of the main prefecture-level cities of the People’s Republic of China, for which we manually collect the pairwise travel distances and railway speeds to calculate market access. The empirical results show that the launch of the HSR exerts significant positive effects on growth. Specifically, a 1% increase in market access leads to an increase in real income of 0.123% (controlling the region fixed effect) or 0.121% (controlling the province fixed effect). Counterfactual econometric analysis indicates that, if all the HSR were removed in 2015, the market access would fall by an average of 76.2% and the aggregate real income would decline by up to 9.4%. The growth effect of the HSR varies across cities, and the HSR has a more prominent impact on services than on manufacturing. The conclusion remains valid after a series of robustness tests. |
| Keywords: | high-speed railway; transport infrastructure; market access; economic growth; PRC |
| JEL: | F14 R11 R42 |
| Date: | 2018–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0852&r=all |
| By: | Sanisława Golinowska; Christoph Sowada; Marzena Tambor; Alicja Domagała; Krzysztof Kuszewski |
| Abstract: | The health protection system is the object of constant pressures and difficulties in mitigating them, and even more so eliminating or at least reducing them. Changes are undertaken under the influence of a one-sided political assessment, the interests of various groups of participants or the protests of successive groups of medical staff. There is no professional and fully documented diagnosis of the system, made by independent experts, which could serve as the basis for a comprehensive health protection reform plan, rather than individual, incidental changes that disrupt the system’s already very fragile balance. A well thought-out reform, properly distributed over time, so that at no point does it cause negative health effects. A reform agreed among stakeholders and adopted with understanding of the need for changes, so that it is supported by society. A reform for which there will be funds, institutions and engaged professionals – leaders in health protection. A reform that won’t be criticized or changed when the government changes. Such a reform is waiting to be presented and debated. We begin this process by pointing out and presenting the system’s main problems. |
| Keywords: | public health, copayments, expenditures on health, health insurance, health professionals, National Health Programs, public health problems |
| JEL: | H51 I13 I18 |
| Date: | 2018–12–13 |
| URL: | http://d.repec.org/n?u=RePEc:sec:mbanks:0156&r=all |
| By: | Andras Simonovits (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences also Mathematical Institute of Budapest University of Technology) |
| Abstract: | In 2011, the Hungarian government introduced seniority pensions (Female40): females, who have been accumulating at least 40 years of eligibility (related to the length of contributions), can retire at any age without actuarial benefit reduction. The elimination of other early retirement scheme in 2012 and slowly rising real wages made the program even more popular: the lifetime benefit was maximized at the earliest retirement. Since 2016, real wages have been growing rather fast; making delay attractive. Without being recognized, Female40 has become a boomerang: immediate retirement from 2014 causes loss rather than gain to the retiree of Female40. |
| Keywords: | public pension, early retirement, seniority pensions, optimal retirement age |
| JEL: | H55 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:1832&r=all |
| By: | Ermolaeva, L.; Freixanet, J.; Panibratov, A. |
| Abstract: | Exporters' advantages have been discussed in the literature for many decades. Scholars report positive influence of export on firm'’ productivity, efficiency, innovativeness etc. However different contexts suggest different outcomes of the exporting activity. The aim of this study is to analyze the interplay between firms' absorptive capacity, export orientation and innovation strategy of Russian firms. We argue that for Russian firms developed absorptive capacity is an essential antecedent of exporting capacity. Moreover absorptive capacity not only affects firms’ export strategies but is affected itself by export and innovation strategy of the firm. We test our hypotheses using Confirmatory Factor Analysis (CFA). The data was collected by survey of Russian exporters. Total sample accounts 107 observations. |
| Keywords: | internationalization, export, innovation,, absorptive capacity, Russia, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:15108&r=all |
| By: | Quang Tran, Tuyen; Anh Tran, Tai; The Tran, Nu; Thi Nguyen, Hai |
| Abstract: | Using the updated data from the 2016 Vietnam Household Living Standard Survey, this study examines the role of education in the livelihood of households in the Northwest Region, the poorest region in Vietnam. Our micro-econometric analysis shows that education has a positive effect on choosing better livelihoods, on household income and poverty reduction, even after controlling for all other factors in the models. However, our quantile regression analysis reveals that the returns on education are substantially heterogeneous across percentiles of income distribution and tend to be higher for better-off households. This implies that education has an increasing effect on within-level income inequality. The finding suggests that a conventional approach employing only mean regression to study the effect of education on income could miss heterogeneity of interest to policymakers. |
| Keywords: | education; heterogeneous; inequality; rural livelihoods; quantile regression |
| JEL: | I2 I25 I28 |
| Date: | 2018–04–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:90414&r=all |
| By: | Klyachko, Tatiana (Клячко, Татьяна) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Avraamova, Elena (Авраамова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Loginov, Dmitriy (Логинов, Дмитрий) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Polushkina, Elena (Полушкина, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Semionova, Elena (Семионова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Tokareva, Galina (Токарева, Галина) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Every year the Center of the Economics for Continuing Education of the Institute of Applied Economic Research of the Russian Presidential Academy of National Economy and Public administration monitors the efficiency of school education. Within the framework of monitoring a sociological survey of the parents of students, teachers and school principals is conducted in the regions of the Russian Federation differentiated according to the criteria of socio-economic development. This issue presents the results of a survey of parents of students and teachers in 2014–2017, revealing their attitude towards the organization of the educational process, the state final attestation, the formation of educational strategies for schoolchildren. |
| Keywords: | MONITORING, EFFICIENCY OF SCHOOL EDUCATION, EDUCATIONAL STRATEGIES OF SCHOOLCHILDREN, FINAL ATTESTATION OF STUDENTS |
| JEL: | I21 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:061834&r=all |
| By: | Panibratov, A.; Klishevich, D. |
| Abstract: | State-owned enterprises are considered an important phenomenon in the contemporary international business research which has a particular focus on the internationalization of such companies. The most prominent examples of globalizing state companies are the enterprises from emerging markets, whose economies are traditionally shaped a lot by the state influence and where historical legacy still influences the development of economy. This study examines the relationship of the state ownership and internationalization which is still far from being clear, since research on this topic produced controversial results. The controversy may be grounded in the different contexts where state companies operate. We study the Russian state companies, that are the least studied among the emerging market countries, and promise to reveal the insights on the internationalization strategies of SOEs. We examine the association of the state ownership degree and the internationalization level on the sample of state- and private-owned enterprises that are the 250 largest Russian exporters for the 4 years from 2013 to 2016. The results indicate that state ownership degree is negatively associated with the internationalization intensity, but only in case of the indirect state ownership, which we explain with the argumentation of the public agenda that companies pursue indirectly. Russian state companies are considered to have both commercial and strategic goals, and the latter may be connected to the geopolitical aspirations of the government. Firms with indirect state affiliation are used by the government as a leverage to reach non-market goals. Thus, the state pursues strategic (as opposed to commercial) agenda indirectly. |
| Keywords: | internationalization, state-owned enterprises, multinational enterprise, MNC, Russia, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:15116&r=all |
| By: | Tho V. Le; Junyi Zhang; Makoto Chikaraishi; Akimasa Fujiwara |
| Abstract: | To analyze the influence of introducing the High-Speed Railway (HSR) system on business and non-business travel behavior, this study develops an integrated inter-city travel demand model to represent trip generations, destination choice, and travel mode choice behavior. The accessibility calculated from the RP/SP (Revealed Preference/Stated Preference) combined nested logit model of destination and mode choices is used as an explanatory variable in the trip frequency models. One of the important findings is that additional travel would be induced by introducing HSR. Our simulation analyses also reveal that HSR and conventional airlines will be the main modes for middle distances and long distances, respectively. The development of zones may highly influence the destination choices for business purposes, while prices of HSR and Low-Cost Carriers affect choices for non-business purposes. Finally, the research reveals that people on non-business trips are more sensitive to changes in travel time, travel cost and regional attributes than people on business trips. |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1812.04184&r=all |
| By: | Klyachko, Tatiana (Клячко, Татьяна) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Avraamova, Elena (Авраамова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Loginov, Dmitriy (Логинов, Дмитрий) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Polushkina, Elena (Полушкина, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Semionova, Elena (Семионова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Tokareva, Galina (Токарева, Галина) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Interregional monitoring of the effectiveness of the school is conducted by the Center for Continuing Education Economics of the Institute of Applied Economic Research of the Russian Academy of National Economy and Public Administration under the President of the Russian Federation. Within the monitoring, a sociological survey of the parents of students, teachers and school principals of different types of settlements in the subjects of the Russian Federation, differentiated according to the criteria of social and economic development is carried out. This issue presents the results of a survey of teachers and parents of schoolchildren held in Chelyabinsk region, Altai and Stavropol regions in 2018, revealing the respondents' attitude to problems of school success and failure. |
| Keywords: | MONITORING, EFFICIENCY OF SCHOOL EDUCATION, ADDITIONAL EDUCATION, TEACHERS, FAMILIES OF SCHOOLCHILDREN |
| JEL: | I21 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:111808&r=all |
| By: | Alexey Ponomarenko (Bank of Russia, Russian Federation); Svetlana Popova (Bank of Russia, Russian Federation); Sergey Sabodash (Bank of Russia, Russian Federation) |
| Abstract: | Industries that require large working capital as compared to revenue are, in general, more sensitive to changes in debt financing availability. It makes such industries more vulnerable to financial crises when opportunities to attract debt financing usually become much scarcer. In Russia, the number of such industries is large, and they are more important to the economy than in Europe. Construction, real estate operations, agriculture and certain manufacturing industries, among others, are, perhaps, the most vulnerable to financial turmoil. For this reason, financial shocks can affect the Russian economy to a greater extent than that of the European countries. Therefore, maintaining financial stability requires particularly close monitoring and analysis of the situation in these industries. |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:bkr:wpaper:note18&r=all |
| By: | Tamas Csabafi (University of Missouri-St. Louis - Department of Economics); Max Gillman (University of Missouri-St. Louis; IEHAS, Budapest; CERGE-EI, Prague); Ruthira Naraidoo (Department of Economics - University of Pretoria, South Africa) |
| Abstract: | The paper extends a standard two-country international real business cycle model to include financial intermediation by banks of loans and government bonds. Taking in household deposits from home and abroad, the loans are produced by the bank in a Cobb-Douglas production approach such that a bank productivity shock can explain financial data moments. The paper contributes an explanation, for both the US relative to the Euro-area, and the US relative to China, of cross-country correlations of loan rates, deposit rates, and the loan premia. It provides a sense in which financial retrenchment resulted in the US following the 2008 bank crisis, and how the Euro-area and China reacted. The paper contributes evidence of how the Euro-area has been more financially integrated with the US, and China less financially integrated, with the Euro-area becoming more financially integrated after the 2008 crisis, and China becoming less so integrated. |
| Keywords: | International Real Business Cycles, Financial Intermediation, Credit Spread, Bank Productivity, 2008 Crisis |
| JEL: | E13 E32 E44 F41 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:1830&r=all |
| By: | Wales, W.; Shirokova, G.; Bogatyreva, K.; Germain, R. |
| Abstract: | Since its emergence, entrepreneurial orientation (EO) has grown in prominence to represent a central concept in corporate entrepreneurship. Despite the importance of EO, in-sufficient attention has been devoted to EO in emerging markets and transitional economies. In this paper, we examine the international exposure of managers within an emerging market context as a driver of their firms’ EO formation as well other potentially impactful forces such as foreign competition growth in their domestic market and the level of involvement into in-ternational economic activity within the region where the firm operates. We explore the focal relationships using a sample of 769 manufacturing firms from Russia, a BRIC country that has received very little attention within the literature on corporate entrepreneurship in general and EO in particular. Our findings indicate importance of managerial international exposure and industry foreign competition growth in the process of EO formation. At the same time, the former is shown to be a context-specific EO driver. Implications are discussed. |
| Keywords: | entrepreneurial orientation, international exposure, regional involvement into international economic activity, Russia, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:15121&r=all |
| By: | Klyachko, Tatiana (Клячко, Татьяна) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Avraamova, Elena (Авраамова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Loginov, Dmitriy (Логинов, Дмитрий) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Polushkina, Elena (Полушкина, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Semionova, Elena (Семионова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Every year the Center of the Economics for Continuing Education of the Institute of Applied Economic Research of the Russian Presidential Academy of National Economy and Public administration monitors the youth labor market problems. This article uses fieldwork collected in the three regions of the Russian Federation in 2016 - 2017 to explore youth perception of jobs. The aim of the investigation was a study of career development of youth, youth professional development. |
| Keywords: | Monitoring, youth employment, youth professional development |
| JEL: | J62 |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:071804&r=all |
| By: | Igumnova, Lyudmila |
| Abstract: | The paper explores Russia-related official statements and press releases of the European External Action Service (EEAS), as well as speeches of the European Union's two High Representatives for Foreign Affairs and Security Policy posted on the website of the service in the period of 2010-2017. The goal of the analysis is to distinguish the elements of normative, soft and transformative power in the EU's official communications with Moscow and to specify what type of power and influence the EU tries to exercise in Russia. Quantitative text analysis of the EEAS documents was carried out for this purpose. The results obtained demonstrate that the EEAS communications towards Russia are limited to a narrow range of problems; the principles of the rule of law, human rights and fundamental freedoms dominate in its dialogue with Moscow. Criticizing mainly violations of legal norms, the European External Action Service positions itself as a normative actor, promoting a normative agenda in the country. The elements of soft and transformative power are very scarcely represented. The problem of the EU's normative impact is beyond the scope of this paper. |
| Keywords: | European Union,Russia,European External Action Service,Russia-EU relations,Normative Power |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ekhdps:318&r=all |
| By: | Andy McKay; Saurabh Singhal; Finn Tarp |
| Abstract: | While many studies of welfare dynamics have been conducted using panel data sets with two or three waves, much richer insights can be obtained where more waves are available. This paper analyses this issue for the case of the Viet Nam Access to Resources Household Survey, a carefully collected and high-quality data set collected over a period of eight years from 2008 to 2016. The survey was conducted over a period of impressive overall welfare improvement, but the data set highlights significant heterogeneity in this with significant numbers of households in fact becoming worse off. A panel-based econometric analysis of the evolution of different measures of welfare identifies that there are strong dynamics in welfare for all three measures considered here, but that shocks and changes in household composition are very important drivers of changing welfare levels at the household level. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2018-169&r=all |
| By: | Zykov, Alexander (Зыков, Александр) (The Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)); Petrov, Vladimir (Петров, Владимир) (The Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)); Oleg, Tsaplin (Олег, Цаплин) (The Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)) |
| Abstract: | The article examines the experience in implementing of the Integrated Automated Management System of the University using the platform “1C: Enterprise 8” on the example of the educational process automation in the North-Western Institute of Management — branch of the Russian Academy of National Economy and Public Administration under the President of the Russian Federation. |
| Keywords: | automated system, new information technologies, automation of educational process, information processing, accounting system, functional module |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:111804&r=all |
| By: | Tanika Chakraborty; Manish Pandey |
| Abstract: | We analyze a household’s decision to have temporary international migrants when faced with shocks. We consider a household maximization problem and derive the effects of different kinds of shocks on the migration decision. Using four waves of the Life in Kyrgyzstan panel surveys, we empirically examine these effects. We contribute to the literature by accounting for household level unobserved heterogeneity, distinguishing between onward and return migration, and examining the underlying insurance motive of migration. We find that while agricultural and household specific idiosyncratic shocks have a positive effect on the likelihood to migrate, displacement shocks have a negative effect. The difference between the effects of these shocks is explained by the dynamics of migration. While agricultural and displacement shocks affect return migration, household specific idiosyncratic shocks drive onward migration. We further find that the effect of the displacement and agricultural shocks on onward and return migration are muted when households have easier access to informal borrowing. |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:win:winwop:2018-03&r=all |
| By: | Liu, Huiling; Fei, Xing; Yakshtas, Kseniya; Li, Bo |
| Abstract: | This study investigates the impacts of Chinese high-tech enterprise certification policy on enterprise innovation by exploiting the unique data of listed companies and their affiliates from 2006 to 2015. The authors exclude firms certified after year 2009 from the sample, because they may have exhibited R&D manipulation. The results show that high-tech enterprise certification can promote Chinese enterprise innovation, especially the innovation captured by invention patents. The results of a rich set of robustness tests all support this conclusion. Regarding the underlying mechanism, high-tech enterprise certification can influence enterprise innovation through tangible and intangible channels. The heterogeneity analysis shows that private enterprises, enterprises in industries with more competition, and equity-inspired enterprises benefit most from high-tech enterprise certification. This paper helps to scientifically evaluate the validity of Chinese innovation policy and contributes to a more comprehensive understanding of enterprise innovation's driving forces as well as the inconclusive relationship between government support and enterprise innovation. |
| Keywords: | high-tech enterprise certification,innovation,R&D manipulation |
| JEL: | O31 O32 O38 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwedp:201885&r=all |
| By: | Wenjing Duan; Pedro S. Martins |
| Abstract: | Do firms in China share rents with their workers? We address this question by examining firm-level panel data covering virtually all manufacturing firms over the period 2000-2007, representing an average of 200,000 firms and 54 million workers per year. We find robust evidence of rent sharing (RS): workers that would move from low- to high-profit firms would see their wages increase by about 45%. The results are based on multiple instrumental variables, including firm-specific international trade shocks. We also present a number of complementary findings: RS is weaker in firms with more women and less educated workers; RS involves an element of risk sharing, as wages also decrease when profits fall; RS is lower in regions with more latent competition from rural workers; higher minimum wages tend to reduce RS; and, while employer labour market power reduces wages, it increases RS. Overall, despite its importance, RS in China is smaller than in developed economies, which reflects the weaker bargaining power of its workers and the different scope of its labour market institutions. |
| Keywords: | Wages, Bargaining, Monopsony |
| JEL: | J31 J41 J50 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:cgs:wpaper:96&r=all |
| By: | Klyachko, Tatiana (Клячко, Татьяна) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Avraamova, Elena (Авраамова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Loginov, Dmitriy (Логинов, Дмитрий) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Polushkina, Elena (Полушкина, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Semionova, Elena (Семионова, Елена) (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Every year the Center of the Economics for Continuing Education of the Institute of Applied Economic Research of the Russian Presidential Academy of National Economy and Public administration monitors the youth labor market problems. This article uses fieldwork collected in the three regions of the Russian Federation in 2017 to explore youth informal employment. The aim of the investigation was a study of the reasons and the consequences of youth informal job. |
| Keywords: | Monitoring, youth employment, informal job |
| JEL: | J62 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:101801&r=all |
| By: | Ludmila Fadejeva (Bank of Latvia); Janis Lapins (Bank of Latvia); Liva Zorgenfreija (Bank of Latvia) |
| Abstract: | This paper presents an overview of the main results of the Household Finance and Consumption Survey in Latvia, which was conducted in 2014 and collected responses from 2 814 individuals (1 202 households). Unique data on household wealth, including their assets and liabilities, as well as income and consumption were gathered. The data this survey collects are representative of the population, and the survey is to be carried out regularly to study aggregate and distributional changes in household budgets, wealth components and inequality over time. The survey results show that households in Latvia, in comparison with those in the euro area, have much higher ownership rates of the most important household asset – the main residence (76% vs. 61% respectively). However, the median value of this asset and of total assets is markedly lower than in the euro area. On the liabilities side, only one third of Latvian households have outstanding debt – one of the lowest readings among euro area countries. Taking all components of a household balance sheet together, the median net wealth of households in Latvia is 14 200 euro, which is more than seven times smaller than that of euro area households. While the largest net wealth holdings in the euro area are owned by the households where the reference person is at a pre-retirement age, it is the young households (especially the group aged 35–44) in Latvia that own the largest amounts of net wealth and earn the highest median income. |
| Keywords: | household finance and consumption survey, Latvia, assets, liabilities, net wealth, financial fragility, income, consumption |
| JEL: | D14 D31 E21 |
| Date: | 2018–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:dpaper:201801&r=all |