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on Transition Economics |
| By: | Zhang, Tonglong; Zhang, Linxiu |
| Abstract: | This paper uses a nationally representative survey data, respectively from the perspectives of the contract right and the use right,to estimate the Gini coefficient of farmland inequality from 1996 to 2013 and explore the mechanism of the evolution. We find: A.Whether from the point of the contract right or the use right, the farmland inequality in China has been gradually expanding. Moreover, there has been a tendency to accelerate in recent years. And the trend of concentration of use right is more obvious. B.For the widening inequality of contract right, the reallocation has been almost prohibited since the second round of the contract, which is the most important institutional factor.And the more frequent farmland taking also has been promoted the extend of farmland inequality in recent year. C.For the widening inequality of use right, it is mainly contributed by the distribution of contract right. The farmland transfer based on market motivation is also improved the centralization of use right.However, it has not been very effective so far and new institutional changes are needed to support it. D. In the long run, the concentration of use right is still subject to the distribution of the contract right and less influenced by other economic factors. The evolution process will be gradual for a long time. |
| Keywords: | Land Economics/Use |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285056&r=all |
| By: | NA |
| Abstract: | High transaction costs caused by dispersed and fragmented tracts, insecure tenure and incomplete information in rural land market has become a common issue in the transition economies. Horizontal integration may economize on transaction costs but aggrandize governance inputs. Therefore trade-off between integration and governance is one of the biggest challenges in land commercialization and rural restructuring worldwide. Resorting to a field survey in Nanhai District, Guangdong Province, this work estimates how the transaction costs of rural collective construction land are influenced by the horizontal integration degree and the level of self-organization governance of collectives. Four Tobit models are constructed based on the scale of collectives and the results show that: (1) There is an almost U-shaped relationship between the horizontal integration degree of the collectives and the transaction costs. The horizontal integration among shareholders can not only centralize the fragmented land assets from individual farmers and reduce the transaction costs of rural construction land, but also result in organization costs. The transaction costs are not decreasing as the horizontal integration increases until the transaction costs saved are equal to resultant organization. (2) The more collective leaders, the higher organization costs and the more opportunism behaviors, which will give rise to the transaction costs. This suggests that the Chinese authorities should strengthen the ongoing efforts to reduce the transaction costs of market and improve the efficiency through a more transparent and accessible market and optimal scale of horizontal integration of the collective. Our work sheds some light on the mechanisms at play in the reform and innovation of rural grass-root governance and it contributes to a better understanding of land-based shareholding cooperation system and nature of ongoing rural construction land market in China and transitional economies. |
| Keywords: | Demand and Price Analysis |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285093&r=all |
| By: | Svanidze, Miranda; Götz, Linde |
| Abstract: | Using a threshold vector error correction model approach we find the wheat market of Russia segmented, with the primary grain export region poorly integrated into the domestic market. Results also indicate that trade costs are high, hindering spatial market efficiency of wheat markets in Russia. In addition, our study demonstrates that, by including the USA as benchmark country, a comparative approach enables a more comprehensive assessment of the spatial market efficiency of the wheat market in Russia. The study shows that the distinction between grain production and export potential, especially for markets located in peripheral regions of Russia, is essential to correctly identify Russia's future role for global food security. As a general conclusion, besides raising agricultural production potential it is also essential to strengthen spatial market efficiency in the agricultural sector to boost agricultural export potential and to increase global food security. |
| Keywords: | Crop Production/Industries, Food Security and Poverty, International Relations/Trade |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iamodp:285196&r=all |
| By: | Liu, Xinghua; Li, Qiang; Chand, Satish |
| Abstract: | Estimating the economic value of clean air is of significance to both policymakers and private individuals but its quantification has proved difficult. Of the different valuation approaches used, the classic hedonic theory predicts a negative relationship between air quality and housing prices. Existing attempts to quantify this nexus is plagued by problems of endogeneity, mainly arising from omitted variables that confound air pollution with other determinants of housing prices. We employ a regression discontinuity (RD) design to estimate the impact of air pollution on house prices across a river that demarcates regions with and without coal-fired heating emanating from the Huai River Policy. This policy was decreed by the Chinese government in the 1950s that allowed burning of coal at subsidised prices for indoor heating to only the north of the Huai River. Employing quasi-experimental variation in particulate matter of 10 micrometres or less in aerodynamic diameter (PM10) generated by this arbitrary policy and regression discontinuity (RD) design based on distance from Huai River, we estimate the local average treatment effect (LATE) to provide new evidence on the capitalization of PM10 air pollution into housing values. By using panel data of 30 large cities on either side of the river for the period 2006 to 2015, we found that 1 μg/m3 reduction in average PM10 results in an approximately 1 percent increase in housing prices. The results are robust to using parametric and nonparametric estimation methods and adjustment to a rich set of covariates. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285038&r=all |
| By: | Ljungberg, Jonas (Department of Economic History, Lund University) |
| Abstract: | Which have been the consequences of the euro for integration and economic performance in the Baltic Sea region? After the collapse of the Soviet Union, the three Baltic states and Poland have been rapidly catching-up with Western Europe. The Great Recession became a great setback for the former, while less so for Poland. A difference is the monetary policy: the Polish zloty depreciated in the critical moment of the crisis, while currency boards with the aim of joining the euro bestowed appreciation for the Baltics and Finland. Contrary to the purpose, monetary integration has not fostered integration in trade, and the share of the Eurozone in Baltic trade has stagnated. A comparison with other countries in the Baltic Sea region suggests that the euro provides “the golden fetters” of our time. Emigration, also a kind of integration, has become a safety valve with severe social and economic consequences for the Baltic states. |
| Keywords: | economic growth; integration; exports; EMU; Baltic Sea region; exchange rates |
| JEL: | E39 E42 F14 F15 F43 N14 |
| Date: | 2019–03–20 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:luekhi:0198&r=all |
| By: | Jessica E. Leight (Williams College); Elaine Liu (University of Houston) |
| Abstract: | The importance of non-cognitive skills in determining long-term human capital and labor market outcomes is widely acknowledged, but relatively little is known about how educational investments by parents may respond to children’s non-cognitive characteristics. This paper evaluates the parental response to non-cognitive variation across siblings in rural Gansu province, China, employing a household fixed effects specification; the non-cognitive measures of interest are defined as the inverse of both externalizing challenges (behavioral problems and aggression) and internalizing challenges (anxiety and withdrawal). The results suggest that there is significant heterogeneity with respect to maternal education. More educated mothers appear to compensate for differences between their children, investing more in a child who exhibits greater non-cognitive deficits, while less educated mothers reinforce these differences. Most importantly, there is evidence that these compensatory investments are associated with the narrowing of non-cognitive deficits over time for children of more educated mothers, while there is no comparable pattern in households with less educated mothers. |
| Keywords: | non-cognitive characteristics, parental investments, intrahousehold resource allocation |
| JEL: | I24 O15 D13 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:hka:wpaper:2018-039&r=all |
| By: | Pajović, Ivan; Petrović, Dragan; Bukvić, Rajko |
| Abstract: | Russian. В статье представлен дескриптивный анализ актуального общего состояния сельского хозяйства в Республике Сербия. Здесь собраны и представлены данные о региональном статистическом подразделении на территории Республики Сербия, данные о посевных площадях, земле и типах плодородных почв. В основной части статьи приводятся данные о сельскохозяйственном производстве, а особая часть о выращивании технических культур. Представлен также и критический обзор ситуации в сербском сельском хозяйстве с сопоставительными данными предыдущих периодов. В заключении представлены актуальные проблемы сельского хозяйства Сербии. English. The paper presents the descriptive statistics of the actual general status of Serbian agriculture. Here were collected the data about regional distribution on the territory of the Republic of Serbia, then data on cultivated areas and the types of the soils for farm production. In the paper core the data about agriculture production are demonstrated, especially on technical crops. It is also shown the critique view on Serbian agriculture with comparative previous data. At the end it was introduced the actual problems of Serbian agriculture. |
| Keywords: | сельское хозяйство, растениеводство, животноводство, Сербия, agriculture, farm production, husbandry, Serbia |
| JEL: | N54 O13 Q00 Q10 Q19 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:92984&r=all |
| By: | Genova, Christian; Umberger, Wendy; Newman, Suzie; Peralta, Alexandra; Zeng, Di |
| Abstract: | Child undernutrition, particularly stunting, wasting and micronutrient deficiencies, remains a major health concern in rural communities in Vietnam. While literature suggests leveraging agriculture to improve child nutrition via agricultural diversification, market engagement, and women empowerment, very few studies have explored how smallholder vegetable production can influence child nutrition outcomes. The present paper tries to fill this gap using a nutrition-centred approach that examines the impacts of vegetable production diversity, market access, and market participation at the household level. We use a cross-sectional household dataset that we collected in 2016 in Northwest Vietnam covering 234 children aged 6 to 60 months. We estimate several regression models using three-stage least squares (3SLS), ordinary least squares (OLS), logistic regression, and seemingly unrelated regression (SUR), in their most appropriate settings and in a comparative manner to explain variations in several nutrition outcome measures, including height-for-age (HAZ), weight-for-height (WHZ), and weight-for-age (WAZ) Z-scores, as well as three other measures (stunting, wasting, and underweight). Our results suggest that smallholder vegetable production has a significant indirect effect on child nutrition via market participation. Market participation is an important factor in improving girls’ HAZ and WHZ, and in reducing the probabilities of boys being stunted and underweight. It is implied that additional income from selling vegetables allows households to purchase nutritious food, which is likely to have a positive impact on child nutrition outcomes. |
| Keywords: | Food Consumption/Nutrition/Food Safety |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285041&r=all |
| By: | Jan Bruha; Jaromir Tonner |
| Abstract: | The goal of this paper is to contribute to the understanding of the macroeconomic costs and benefits of euro adoption by the Czech economy through the lens of the CNB's official structural macroeconomic model - called g3. To do so, we perform simulations using the g3 model and a modification thereof with a fixed nominal exchange rate and with the policy rate given by the ECB. First, we compare the unconditional volatilities of selected macro variables implied by the two models. Second, we use the g3 model to filter the historical data to identify the structural shocks that affected the Czech economy in the past ten years, and we then use the modified model to simulate the counterfactual outcome of what would have happened to the Czech economy if the euro had been adopted in the past. Our results indicate that euro adoption would have had positive effects on the levels of macroeconomic variables at the cost of an increase in nominal volatility. |
| Keywords: | DSGE model, euro, monetary policy |
| JEL: | E47 E52 F47 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:cnb:wpaper:2018/19&r=all |
| By: | Oskar Kowalewski (IESEG School of Management (LEM-CNRS-UMR 9221)); ; |
| Abstract: | In this study, we examine the effects of foreign branch activity on commercial banks in the Central, Eastern, and Southeastern European countries for the period 1995-2015. We show that more foreign bank branches are present in countries that have higher taxes and regulatory restrictions on bank activity. The increased activity of bank branches negatively a ects foreign-owned bank lending, and to a lesser extent, that of state-owned banks. We attribute this finding to the fact that branches and foreign-owned banks compete for the same type of clients, namely, multinational corporations. The branch e ect seems to be larger for corporate loans than for consumer loans, which confirms our assumptions. Moreover, we find that the negative effect is stronger for foreign banks owned by multinational banks than by non-bank entities. |
| Keywords: | foreign bank branch, lending, subsidiary, crisis, developing markets, EU Firm performance |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:ies:wpaper:f201808&r=all |
| By: | Vo, D.H.; Tran, N.P.; Duong, T.N.-T.; McAleer, M.J. |
| Abstract: | The purpose of the paper is to estimate market risk for the ten major industries in Vietnam. The focus is on the Energy sector, which has been designated as one of the four key industries, together with Services, Food, and Telecommunications, targeted for economic development by the Vietnam Government through to 2020. Oil and Gas is a separate energy-related major industry. The data set is from 2009 to 2017, which is decomposed into two distinct sub-periods after the Global Financial Crisis (GFC), namely the immediate post-GFC (2009-2011) period and the normal (2012-2017) period, in order to identify the behaviour of market risk for Vietnam major industries. Two widely-used approaches to measure and analyze risk are used in the empirical analysis, namely Value-at-Risk (VaR) and Conditional Value-at-Risk (CVaR). The empirical findings indicate that Energy and Pharmaceuticals are the least risky industries, whereas Oil and Gas and Securities have the greatest risk. In general, there is strong empirical evidence that the four key industries display relatively low risk. For public policy, the Vietnam Government’s pro-active emphasis on the targeted industries, including Energy, to achieve sustainable economic growth and national economic development, seems to be working effectively |
| Keywords: | Market risk, Energy, Industries, Value-at-Risk, Conditional Value-at-Risk, Sustainable growth, Economic development, Vietnam |
| JEL: | C10 G10 E32 |
| Date: | 2019–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:ems:eureir:115616&r=all |
| By: | Wang, Ou; Somogyi, Simon |
| Abstract: | Due to the quick development of e-commerce, more and more consumers have accepted food consumption with different e-commerce modes as a part of their daily lives. In recent years, a new e-commerce mode- New Retail is starting to appear across the world. This study examined the impacts of food choice motives and socio-demographic characteristics on consumer food choice with the New Retail e-commerce mode. It also explored consumer preferences of specific food categories for the New Retail food consumption. An online survey was administered with 435 participants from three Chinese cities: Beijing, Shanghai and Shenzhen. Results of linear regression analyses indicated that the New Retail food consumption was significantly associated with the following food choice motives and socio-demographic characteristics: Taste appeal, Quality concern, Others’ reviews, Discount, Gender, Household size, Age, Income, Occupation and Marital status. Meanwhile Live aquatic product and Fresh fruit were the most frequently consumed food categories with the New Retail mode by consumers. The findings can help food producers and policy-makers to develop effective marketing strategies and promotion policies for their products to meet the consumer needs in e-commerce age. |
| Keywords: | Consumer/Household Economics |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285035&r=all |
| By: | NA |
| Abstract: | Off-farm work plays a significant role in diversifying rural income and reducing risks generated from relying solely on agricultural production. Prior studies have examined the association between off-farm work participation and land use behaviors of rural households, but little attention has been paid to the effects of the joint off-farm work decisions of farm couples on land transfer choices. To bridge this gap, this study investigates the determinants of farm couples’ off-farm work participation, using a seemingly unrelated bivariate probit regression model and survey data collected from Hubei province of China. We also estimate the impact of the joint off-farm work decisions of farm couples on land transfer choices by employing a multinomial logit model and controlling for the endogeneity issues of off-farm work variables. The empirical results show that farm couples are jointly making decisions to work off the farm, but their decisions affect household land transfer choices differently. In particular, we show that the husbands participating in the off-farm work are more likely to rent in land, while their wives are less likely to do so. Both the husbands and wives are more likely to rent out land if they work off the farm. Our findings highlight the importance of farm couples’ off-farm work decisions in stimulating the development of rural land rental markets. |
| Keywords: | Farm Management |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285065&r=all |
| By: | Nguyen, Huy Quynh |
| Abstract: | This paper studies whether land consolidation – reduction of land fragmentation – promotes or hinders the Vietnamese government’s policy objectives of encouraging agricultural mechanization and stimulation of the off-farm rural economy. It does this by viewing land consolidation as a form of technical change, making it possible to apply the insights developed in the economic literature on technical change. This treatment reveals that the impacts of land consolidation depend partly on its factor bias and partly on the degree to which labor is substitutable in production for other factors. At a theoretical level, if a technical change is factor neutral, it will reduce off-farm labor supply and slow rural structural transformation away from agriculture; if it is labor-augmenting and the elasticity of substitution between factors is low enough, the opposite effects are predicted. The paper studies these issues empirically for rice production in Vietnam, focusing on the impact that consolidation of rice land has on rice production, machinery use, and labor allocation. The findings confirm that land consolidation raises both farm productivity and farm income and stimulates increased machinery use. It also reduces farm labor supply, lowers labor intensity in farming, and thereby releases more farm labor to off-farm development, consistent with government policy objectives. Based on these findings, the paper concludes that land consolidation should be encouraged through development of land ownership rights and the promotion of land rental markets. |
| Keywords: | Crop Production/Industries |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285078&r=all |
| By: | Zhao, Peiru |
| Abstract: | Agricultural insurance has been implemented for more than ten years in China. It is of great significance to analyse the impact of agricultural insurance on agricultural production in order to further design and promote innovative agricultural insurance. From a national perspective, 31 provinces in China are divided into four agricultural insurance development regions according to the level of economic development and agricultural development by cluster analysis. Then panel data model is used to analyse the impact of national and four regions agricultural insurance on agricultural production value. The empirical results show that the gross value of agricultural production is positively and significantly affected by agricultural insurance, planting area, loss ratio, and human capital. |
| Keywords: | Risk and Uncertainty |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare19:285046&r=all |
| By: | Vo, D.H.; Pham, B.V.-N.; Pham, T.V.-T.; McAleer, M.J. |
| Abstract: | Any critical analysis of the corporate financial distress of listed firms in international exchange would be incomplete without a serious dissection at the industry level because of the different levels of risks concerned. This paper considers the financial distress of listed firms at the industry level in Vietnam over the last decade. Two periods are considered, namely during the Global Financial Crisis (GFC) (2007 - 2009) and post-GFC (2010 - 2017). The logit regression technique is used to estimate alternative models based on accounting and market factors. The paper also extends the analysis to include selected macroeconomic factors that are expected to affect the corporate financial distress of listed firms at the industry level in Vietnam. The empirical findings confirm that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the GFC had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the Utilities sector recording a dramatic increase in bankruptcies post-GFC |
| Keywords: | Listed firms, industry level, corporate financial distress, bankruptcy, distance to default, fundamentals, Global Financial Crisis, Vietnam |
| JEL: | G01 G31 G33 G34 |
| Date: | 2019–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:ems:eureir:115613&r=all |
| By: | Nguyen, H.M.; Bui, N.H.; Vo, D.H.; McAleer, M.J. |
| Abstract: | The importance of non-renewable, renewable and sustainable energy sources and energy consumption in the economic development strategy of a country is undeniable. The purpose of the paper is to investigate the impacts of energy consumption on the economic growth of Vietnam during the 1980-2014 period. By applying the Autoregressive Distributed Lag (ARDL) model of Pesaran et al. (2001), and the Granger causality test of Toda and Yamamoto (1995), the empirical results provide evidence that electricity consumption has positive impacts on Vietnam’s economic growth in both the short run and long run. For public policy prescriptions, the empirical evidence suggests that an exploration of new sources of renewable and sustainable energy is essential for long run economic development |
| Keywords: | Energy consumption, renewable and sustainable energy, economic growth, economic development, ARDL, Granger causality |
| JEL: | F43 O13 O47 Q42 Q43 |
| Date: | 2019–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:ems:eureir:115606&r=all |