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on Transition Economics |
| By: | Beomsoo Kim (Department of Economics, Korea University, Seoul, Republic of Korea); Yang Zhao (Department of Economics, Korea University, Seoul, Republic of Korea) |
| Abstract: | The Chinese government passed the Air Pollution Prevention and Control Action Plan (APPCAP) in 2013 to improve air quality. Subsequently, local governments implemented their own action plans following APPCAP in different time. We use difference-in-differences model to evaluate the impact of the APPCAP on health outcomes. Unlike the literature focusing on mortality, we measure health outcomes based on air-pollution-related chronic conditions, respiratory diseases, and circulatory system diseases based on the medical literature. The China Family Panel Studies (CFPS 2012, 2014, 2016), a representative survey of China, collects detailed information on doctor-diagnosed chronic diseases over the last 6 months. We found that the APPCAP reduced respiratory diseases and circulatory system diseases by 23 percent and 20 percent respectively for all adults. The effects vary across subsets of the population. The low-income strata and old people benefitted most from the APPCAP regarding respiratory diseases. Furthermore, females and old people received large benefits from the APPCAP for circulatory system diseases. |
| Keywords: | assortative, random, auction, subscription, revenue maximization, complementarity |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:iek:wpaper:1904&r=all |
| By: | Konstantins Benkovskis (Bank of Latvia); Olegs Tkacevs (Bank of Latvia) |
| Abstract: | This study provides new evidence on sector-specific differences in the age-productivity profiles in a country that has witnessed substantial shifts in the economic structure and features flexible labour market and high labour force participation among the elderly. Using a matched employer–employee dataset of Latvian firms, the paper unveils a conventional hump-shaped or downward sloping relationship in manufacturing and trade, but almost no or very small negative effect of ageing workforce in knowledge-intensive service sectors that largely employ high-skilled white-collar employees. The results suggest that investing in human capital, in particular training of elderly employees as well as addressing severe skill shortages in the ICT services sector have to be considered to reduce the downward pressure of ageing on firm performance. It also highlights the importance of efforts made by public institutions in improving health care and promoting healthier lifestyles to increase the number of healthy life years. |
| Keywords: | firm productivity, ageing population, age-productivity profile |
| JEL: | C23 L25 |
| Date: | 2019–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:dpaper:201903&r=all |
| By: | Bradley, Elizabeth (Vassar College); Chen, Xi (Yale University); Tang, Gaojie (Jinan University) |
| Abstract: | Grants and services provided by the government may crowd out informal arrangements, thus weakening informal caring relations and networks. In this paper, we examine the impact of social security expansion on neighborhood cohesion of elders using China's New Rural Pension Scheme (NRPS), one of the largest existing pension program in the world. Since its launch in 2009, more than 400 million Chinese have enrolled in NRPS. We use two waves of China Health and Retirement Longitudinal Study (CHARLS) to examine the effect of pension receipt on two dimensions of neighborhood cohesion among older adults, i.e. participation in collective recreational activities (e.g., socializing and organizational activities) and altruistic activities (e.g., helping those in need in the community), and the frequencies of these activities. Employing an instrumental variable approach, our empirical strategy addresses the endogeneity of pension receipt via exploiting geographic variation in pension program roll-out. We find evidence that receiving pension only slightly reduces collective recreational activities while significantly crowding out altruistic activities in the communities. |
| Keywords: | neighborhood cohesion, pension, crowd out, diversity |
| JEL: | H55 I38 O22 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12815&r=all |
| By: | Aleksandar Vasilev |
| Abstract: | We introduce consumption habits into an exogenous growth model augmented with a detailed government sector, and calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2016). We show that in contrast to the case without habits, e.g., Vasilev (2009), when the economy features saddle-path stability, the habit motive alone leads to equilibrium indeterminacy in the model. When habits enter multiplicatively in the representative agent’s utility function, the setup exhibits ”sink” dynamics, and equilibrium paths are determined by ”animal spirits.” These results are in line with the findings in the literature, e.g., Benhabib and Farmer (1994, 1996) and Farmer (1999), and have major implications for polcy-making and welfare. |
| Keywords: | Equilibrium indeterminacy, animal spirits, multiplicative consumption habits, Bulgaria. |
| JEL: | E32 E22 E37 |
| Date: | 2019–10–08 |
| URL: | http://d.repec.org/n?u=RePEc:eei:rpaper:eeri_rp_2019_08&r=all |
| By: | Yerkenazym Orynbassarova (Karaganda Economic University of Kazpotrebsouz); Ergaly Abzalbek (Karagandy State University); Tatyana Pritvorova (Karagandy State University); Yelena Petrenko (Karaganda Economic University of Kazpotrebsouz) |
| Abstract: | The article examines the post-industrial services sector in the economy of Kazakhstan, the state and dynamics of which is a characteristic feature of the modern techno-technological structure in the post-industrial countries of the world. The sector includes information and communication, business and professional services. The authors study the regional profile of the post-industrial services in Kazakhstan and identify the level of centralization of these types of activities in the regions of Kazakhstan, as well as the nature of its dynamics. Using the method of rating assessment and the method of absolute differences to group regions by the volume of the post-industrial services in the medium term, the authors give a qualitative description of the selected groups. Concerning the product profile of the types of activities as a part of post-industrial services, the authors conduct a dynamic analysis of all types of services within three aggregated positions: computer programming services; information services; services in the field of architecture, engineering surveys, technical tests and analysis. The article assesses the characteristics of the dynamics and structure of supply in the markets of these services, the concentration of services in the regions of Kazakhstan. The types of services that are characterized by the absolute and relative growth in all the regions of the country are identified, which makes it possible to draw conclusions about the vector of development of the economy of Kazakhstan as a whole. The main positive trend is the emergence in the first place of the specific gravity and growth rate of engineering services, which generally corresponds to the trend of transition towards the post-industrial economy with its emphasis on services for all the sectors. Since engineering services are complementary to the real sector of the economy, we can positively assess this trend in the development of Kazakhstan. |
| Keywords: | rating,postindustrial services,business and professional services,information services,regional profile |
| Date: | 2019–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02342720&r=all |
| By: | International Monetary Fund |
| Abstract: | In an increasingly uncertain global economic environment, Hungary’s growth registered one of the highest rates in Europe in 2018. The economy now appears to be running above capacity and wages are growing rapidly amid historically low unemployment. It is thus likely that growth will slow down over the medium-term. Supply-side reforms can help sustain the momentum. |
| Keywords: | Financial crises;Central banks;Economic indicators;External debt;Monetary policy;ISCR,CR,MNB,SMEs,percent of GDP,percentage change,Hungarian authority |
| Date: | 2019–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:19/357&r=all |
| By: | Sciences, Research Coach in Social; Tran, Duc-Anh |
| Abstract: | The reasons for this exploratory investigation are to give a comprehension of the role of small and medium-sized enterprises (SMEs) in the new product development (NPD) procedure of SMEs in Vietnam and make a comparison between the NPD process and a particular case from the personal interview. The goal is to explore whether particular industries fully follow the NPD process or not. Firstly, discover the meaning of family business and SMEs; secondly, the NPD procedure; thirdly, using the NPD in the particular setting of SMEs (comparison). In addition, there are two questions, which are “How do small and medium-sized businesses conduct NPD activities?”, and “Which are the enabling factors and the constraining factors for NPD?” |
| Date: | 2019–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:3uk7t&r=all |
| By: | Anatoliy Kostruba (Vasyl Stefanyk Precarpathian National University); Farkhad Karagussov (Institute of Private Law Caspian University) |
| Abstract: | In Ukraine, entrepreneurship started forming in the absence of the previous experience of its legal regulation in connection with the long socialist period. The relationship between individuals and organisations that have merged in one corporation needs special regulation, and one of the means by which it became possible to regulate relations on the creation and operation of corporations, is the construction of a legal entity. Therefore, the main purpose of the work is to identify the legal form of the activities of legal entities of a corporate type. The analysis of the norms of the current legislation, which contain the term "legal form", shows the ambiguity of its application in the context of different legal norms It is well-known that the content of corporate legal relationships includes not only corporate rights, but also the corresponding corporate responsibilities of company's member. It is established that the current civil law of Ukraine does not provide normative definition of a legal form of legal entities, does not establish the criteria for its formation. On the basis of a retrospective analysis of normative legal acts, the transformation of the legal approach to the definition of the legal nature of corporate rights has been analysed – from the determination of the nature as the nature of absolute substantive law to the definition of it as a symbiosis of property and non-property rights caused by the ownership of a share in the authorised capital of a legal entity of a corporate type. It has been found out that the economic code of Ukraine fixed the main forms within which economic entities (collective-ownership enterprises, economic companies, private enterprises, farming, foreign enterprise, etc.) operated. The classification of legal forms of legal entities, which are grouped according to the relevant criteria, has been carried out. But the criterion for the delineation and classification of a certain range of legal forms of legal entities is the legal regime of property of a legal entity established in one or another legal form. |
| Abstract: | Анотація. Підприємницька діяльність в Україні почала формуватися в умовах відсут-ності попереднього досвіду її правового регулювання у зв'язку із тривалим соціалістич-ним періодом. Відносини між фізичними особами та організаціями, які об'єдналися в одну корпорацію потребують особливого регулювання, і одним із засобів, за допомогою якого стало можливим регулювання відносин щодо створення та діяльності корпорацій, є конструкція юридичної особи. Тому основна мета роботи полягає у виявленні особли-востей організаційно-правової форми діяльності юридичних осіб корпоративного типу. Аналіз норм чинного законодавства, які містять термін «організаційно-правова форма», показує неоднозначність його застосування у контексті різних правових норм Загально-відомо, що до змісту корпоративних правовідносин включаються не лише корпоратив-ні права, але й відповідні корпоративні обов'язки учасника товариства. Встановлено, що чинне цивільне законодавство України не надає нормативного визначення організа-ційно-правової форми юридичних осіб, не встановлює критеріїв її формування. На під-ставі ретроспективного аналізу нормативно-правових актів проаналізовано трансфор-мацію законодавчого підходу до визначення правової природи корпоративних прав-від визнання за ними природи абсолютного речового права до визначення їх як симбіозу майнових і немайнових прав, зумовлених володінням часткою у статутному капіталі юридичної особи корпоративного типу. Виявлено, що господарським кодексом України закріплені основні форми в яких діють суб'єкти господарювання (підприємства колек-тивної власності, господарськи товариства, приватні підприємства, фермерське гос-подарство, іноземне підприємство тощо). В роботі проведена класифікація організа-ційно-правових форм юридичних осіб, які групуються за відповідними критеріями. Але критерієм розмежування та класифікації певного кола організаційно-правових форм юридичних осіб виступає правовий режим майна юридичної особи створеної в той чи іншій організаційно-правовій формі. Ключові слова: корпоративні правовідносини, кооперація, самоорганізація моделей юридичних осіб, акціонерне товариство. |
| Date: | 2019–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02377529&r=all |
| By: | International Monetary Fund |
| Abstract: | Implementing strategic planning and a medium-term budget framework (MTBF) is a core component of Ukraine’s Public Financial Management (PFM) reform strategy. A pilot MTBF conducted in 2017 formed the basis for amendments to the Budget Code in December 2018, which firmly establish a MTBF as the basis for budget preparation. The amendments also establish a legal basis for related reforms, including regular spending reviews and monitoring and managing risks to public finances. |
| Keywords: | Financial soundness indicators;Risk management;Fiscal policy;Budget execution;Budgetary process;ISCR,CR,MTBF,KSU,cmu,budget process,SOEs |
| Date: | 2019–12–06 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:19/360&r=all |
| By: | Lawrence H. Goulder; Xianling Long; Jieyi Lu; Richard D. Morgenstern |
| Abstract: | China is planning to implement the largest CO 2 emissions trading system in the world. To reduce emissions, the system will be a tradable performance standard (TPS), an emissions pricing mechanism that differs significantly from the emissions pricing instruments used in other countries, such as cap and trade (C&T) and a carbon tax. We employ matching analytically and numerically solved models to assess the cost-effectiveness and distributional impacts of China’s forthcoming TPS for achieving CO 2 emissions reductions from the power sector. We find that the TPS’s implicit subsidy to electricity output has wide-ranging consequences for both cost-effectiveness and distribution. In terms of cost-effectiveness, the subsidy disadvantages the TPS relative to C&T by causing power plants to make less efficient use of output-reduction as a way of reducing emissions (indeed, it induces some generators to increase output) and by limiting the cost-reducing potential of allowance trading. In our central case simulations, TPS’s overall costs are about 47 percent higher than under C&T. At the same time, the TPS has distribution-related attractions. Through the use of multiple benchmarks (maximal emission-output ratios consistent with compliance), it can serve distributional objectives. And because it yields smaller increases in electricity prices than a comparable C&T system, it implies less international emissions leakage. |
| JEL: | H23 Q43 Q48 Q5 Q54 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26537&r=all |
| By: | International Monetary Fund |
| Abstract: | Good progress has been made in improving the disclosure and management of fiscal risks since the embedding of fiscal risks in the Budget Code in December 2018, including: • Development of a resolution setting out procedures for assessing different fiscal risks, which was being considered by the Cabinet of Ministers of the Ukraine; • An order to establish sanctions where required information is not submitted has been drafted but has not yet been submitted for approval; • The electronic system for gathering SOE data is now operational; • An action plan for enhancing fiscal risk management over the medium term (including creating a fiscal risk register (Q2 2020), and a fiscal risk management committee in the MoF (Q2 2021)) has been developed. |
| Keywords: | Risk management;Financial statements;Fiscal risk;Fiscal management;Financial institutions;ISCR,CR,Naftogaz,SOEs,scenario analysis,financial plan,financial model |
| Date: | 2019–12–06 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:19/359&r=all |
| By: | Haichao Fan; Joshua S. Graff Zivin; Zonglai Kou; Xueyue Liu; Huanhuan Wang |
| Abstract: | This paper examines the effect of stringent environmental regulations on firms' environmental practices, economic performance, and environmental innovation. Reducing COD levels by 10% relative to 2005 levels is an aim of the Chinese 11th Five-Year Plan. Using a difference-in-differences framework based on a comprehensive firm-level dataset, we find that more stringent environmental regulations faced by firms are positively associated with a greater probability of reducing COD emissions; also, there exists an evident heterogeneous effect across industries with different pollution intensities. Stricter environmental regulations also account for the sharp decline in firms' profits, capital, and labor. After executing a complete chain of tests of the underlying mechanisms, we find that firms rely more on recycling and abatement investment than on innovations when meeting environmental requirements. |
| JEL: | D22 K32 O31 Q53 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26540&r=all |
| By: | Raphaël Chiappini (Université Côte d'Azur; GREDEG CNRS); Dominique Torre (Université Côte d'Azur, France; GREDEG CNRS); Elise Tosi (Skema Business School) |
| Abstract: | The Banque de France's (BDF's) conducted a mission to the National Bank of Romania (NBR) and the National Romanian Government between 1929 and 1933 to advise Romanian monetary and financial authorities. It took place in complement to two loans respectively provided in 1929 and 1931 to stabilize the leu and to develop the economy. After 4 years of cooperation, Romanian authorities were obliged to restrict convertibility to defend the leu. The Romanian Government was also unable to follow French's advice and finally defaulted. After the contributions of Mouré (2003), Cotrell (2006), Torre and Tosi (2010), and Raceanu (2012), this paper contributes to the analysis of this sequence: it supports the thesis that the Great Depression and its effects were not the primary causes of the failure of this cooperation episode. Two other reasons were indeed both sufficient to cause a default of the Romanian part and a failure of the cooperation sequence, unexpected by the French part: (i) a change of repudiation costs of the loans between 1929 and 1933, (ii) unadapted advices from the French mission / excessive cost for the Romanian part to follow them. To obtain this result, we first use archive documents to determine at which moment the Romanian and French parts agreed or disagreed during the 4-year cooperation. Second, we develop a game theoretic model analyzing on rational basis the motives which could explain a late default of the Romanian part, unexpected by the French part. Third, we apply a cliometric analysis onto original data from the National Bank of Romania, which shows that the advices were probably unadapted / too costly to follow. We conclude that at least one of the sufficient conditions exhibited by the theoretical model is empirically validated, which makes inessential the Great Depression as a cause of the default. |
| Keywords: | Nominal stabilization, Financial stabilisation, Central Banks cooperation, National Bank of Romania, Charles Rist, sovereign default, cliometrics |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2019-43&r=all |
| By: | Dang, Hai-Anh (World Bank); Hiraga, Masako (World Bank); Nguyen, Cuong Viet (National Economics University Vietnam) |
| Abstract: | Little literature currently exists on the effects of childcare use on maternal labor market outcomes in a developing country context, and the few recent studies offer mixed results. We attempt to fill these gaps by analyzing several latest rounds of the Vietnam Household Living Standards Survey spanning the early to mid-2010s. Addressing endogeneity issues with a regression discontinuity estimator based on children's birth months, we find a sizable effect of childcare attendance on women's labor market outcomes, including their total annual wages, household income, and poverty status. The effects of childcare attendance differ by women's characteristics and are particularly strong for younger, more educated women. Furthermore, we also find that childcare has a medium-term effect. |
| Keywords: | gender equality, child care, maternal employment, women's empowerment, Vietnam |
| JEL: | J13 J16 J22 H42 O0 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12814&r=all |
| By: | Желябовская, Кристина Владимировна; |
| Abstract: | В статье рассматривается проблема безработицы в Российской Федерации. Выявляются особенности безработицы в контексте общих социальных процессов, протекающих в российском обществе, а также изучаются основные направления государственной политики занятости населения и ее реализации, комплекса практических мер по сокращению безработицы в РФ. The article deals with the problem of unemployment in the Russian Federation. The features of unemployment in the context of the General social processes taking place in the Russian society are revealed, as well as the main directions of the state employment policy and its implementation, a set of practical measures to reduce unemployment in the Russian Federation. |
| Date: | 2019–06–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:pc3kj&r=all |