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on Transition Economics |
| By: | Vu, Tien Manh; Yamada, Hiroyuki |
| Abstract: | We investigated the long-term effects of birthplace favoritism by top-ranking politicians on the quality of education in Vietnam. We used over 1 million test scores from the 2009 and 2014 Vietnamese national university entrance examinations. We examined both the different timing of political terms and the total years of birthplace favoritism. Using the school fixed effects, we found that birthplace favoritism did not have any significant impacts, regardless of the timing and duration of such favoritism. The results also suggest that national entrance examinations were unaffected by birthplace favoritism up to 2014. |
| Keywords: | Favoritism; Test scores; Education; Regional favoritism; Vietnam |
| JEL: | H75 I21 I28 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109718&r= |
| By: | Shagaida Natalia (Gaidar Institute for Economic Policy); Uzun Vasily (RANEPA); Ternovskiy Dmitry (RANEPA) |
| Abstract: | Early in 2020, Russia adopted the new Food Security Doctrine, which included the entire range of amendments as compared with the previous Doctrine-2010. |
| Keywords: | Russian economy, agricultural production |
| JEL: | Q13 Q14 Q15 Q16 Q17 Q18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1124&r= |
| By: | Simachev Yuri (RANEPA); Kuzyk Mikhail (RANEPA); Fedyunina A. (RANEPA) |
| Abstract: | Foreign companies’ declining interest in the Russian economy in the 2010s was accompanied by rather cautious activities of foreign investors which had already entered the Russian market. Sluggishness of foreign companies’ activities in Russia can be substantiated not only by slowdown of economic growth rates, but also a lack of progress in liberalization of foreign direct investments regulation. To rekindle investment activities in the Russian economy again, it is necessary to revise investment policies, switch over to the single nondiscriminatory policy in respect of foreign and Russian investors and combine the policy aimed at underpinning mid-sized projects with the one aimed at supporting investments in strategically important sectors, including fast-growing industries and short-term cycle sectors. |
| Keywords: | Russian economy, digital economy, corporate governance |
| JEL: | F3 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1141&r= |
| By: | Zubov Sergey (Gaidar Institute for Economic Policy) |
| Abstract: | As of end 2020, there were 406 credit institutions in Russia against 442 a year earlier. Over the year, the number of operating credit institutions decreased by 36 (in 2019 – by 42). At the end of the year, he number of banks with a universal license came to 248 (at the beginning of the year – 266), with a basic one - 118 (at the beginning of the year – 136). In 2020, the number of non-bank credit institutions did not change and amounted to 40 (Fig. 65). At the end of the year, there were 379 credit institutions subject to liquidation procedures. |
| Keywords: | Russian economy, banking sector, profit, capital, corporate loans, retail lending |
| JEL: | E41 E51 G28 G21 G24 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1121&r= |
| By: | Avxentyev Nikolay (Gaidar Institute for Economic Policy); Nazarov Vladimir (Gaidar Institute for Economic Policy); Sisigina Natalya (Gaidar Institute for Economic Policy) |
| Abstract: | The coronavirus pandemic became the largest challenge for the domestic public health system. For the first time in modern history, healthcare organizers had to temporarily suspend the implementation of a major part of state guarantees ensuring free medical care to population, as well as practically all programs of health care strategic development. The extraordinary measures made it possible to avoid acute shortages of medical capacity for patients with COVID-19, however, at the same time reduced the availability of medical care for most other diseases. |
| Keywords: | Russian economy, health care system |
| JEL: | I1 I15 I18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1134&r= |
| By: | Izryadnova Olga (Gaidar Institute for Economic Policy) |
| Abstract: | Internal epidemiological restrictions and external shocks have had a significant impact on economic growth in Russia. Unfavorable changes in the global market environment increased the impact of external factors on economic dynamic: starting from 2019, the scale of exports in terms of value and physical volume decreased; the decline in the contribution of net exports to GDP dynamics was partially offset by an increase in domestic demand on the back of the outstripping growth of manufacturing industry and the segment of paid services to the population. From the outset of the spread of coronavirus infection, there was a simultaneous reduction in demand and supply in the domestic market. The situation was complicated by a drop in demand and prices on the world market of hydrocarbons, which came amid a decline in the ruble exchange rate and an increase in the level of inflation. The negative effects of the uncertainty and potential risks of the pandemic affected the nature of business structures, consumer behavior, and led to changes in the structure of government spending, the corporate sector, households, and the demand for financial resources |
| Keywords: | Russian economy, fixed investment, GDP, inflation |
| JEL: | E20 E21 E22 E60 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2021-1126&r= |
| By: | Nguyen, Chi-Hai; Ngo, Quang-Thanh; Pham, My-Duyen; Nguyen, Anh-Tuan; Huynh, Ngoc-Chuong |
| Abstract: | The current article examines the factors affecting economic linkages in the Southern Key Economic Zone of Vietnam, using a unique 5-year firm-level dataset with 5050 observations, using a unique 5-year firm-level dataset with 5050 observations, which is collected and merged from two data sources namely the Vietnam Technology and Competitiveness Survey and the Vietnam Annual Enterprise Survey in 2015-2019. Empirical results from estimating panel logit models based on different types of economic linkages such as (1) backward economic linkage with the domestic supplier, (2) backward economic linkage with a foreign supplier, (3) forward economic linkage with the domestic customer, and (4) forward economic linkage with a foreign customer reveal the importance of firm characteristics, technology transfer, and economic constraints that cause firms to conduct economic linkages across firm sizes and types of ownership. There is clear evidence for the determinants of economic linkages in manufacturing sectors by firm sizes, and by ownership in this analysis are concerned. To be specific, based on a regression analysis, employment, firm’s experience, technology transfer, and economic constraints stand out as the major drivers of economic linkage of various forms. In addition, results reveal several patterns of economic linkages such as domestic technology embodied economic linkage, local supply-chain technology embodied economic linkage, international/global supply-chain technology embodied economic linkage, local market-explored economic linkage, local market privilege, and foreign market privilege. Moreover, it is evidence that investments in basic infrastructure, transport infrastructure, communication infrastructure, removal of financing constraints, increase the labor supply, improvement of working skills of laborers have favored the growth of economic linkages. Our results initiate policy implications in the context that, apart from the firm’s and the industry sector’s characteristics, economic obstacles and the nature of technology transfer significantly influence the firm’s behaviors of conducting economic linkages in various firm sizes and types of ownership. |
| Keywords: | Economic linkages; vertical (or backward) linkages, horizontal (or forward) linkages, key economic zone; manufacturing firms; Vietnam |
| JEL: | M14 N14 |
| Date: | 2021–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109670&r= |
| By: | Bachev, Hrabrin; Ivanov, Bozhidar |
| Abstract: | The issue of utilization of sludge from wastewater treatment in agriculture is an important socio-economic and environmental problem in the European Union and Bulgaria. Its significance is determined by the fact that the amount of sludge formed is constantly growing, as the annual amount of sludge produced in Europe is 8.7 million dry matter, and in Bulgaria reaches 53 thousand tons of dry matter. One of the main ways to utilize sludge from wastewater treatment is its use as fertilizer in agriculture. It is becoming a topical issue along with the growing interest into the effective “transformation of wastes into products” and their inclusion in supply chains and circular economy. In other countries, there are numerous studies on the effects, factors and efficiencies of sludge use in agriculture. Despite their relevance, in-depth studies of the diverse effects and critical factors of sludge utilization in Bulgarian agriculture are at an early stage. This paper presents the results of the first part of a large-scale study aimed at determining the socio-economic effects of sludge utilization in Bulgarian agriculture. First, an approach is presented to assess the multilateral effects, efficiencies and factors of sludge utilization in agriculture. Then the various factors stimulating and limiting the utilization of sludge in Bulgarian farms are identified. The results of a case study of a holding using sludge as fertilizer are then presented. Based on a qualitative analysis of regulations and institutional structure, and surveys with managers and experts of urban wastewater treatment plants, and farmers using and not-using sludge, the institutional, political, organizational, personal, educational, informational, social, economic, and environmental factors influencing the utilization of sludge in agriculture in two regions of the country (Sofia and Burgas) are identified. Impact factors are generally divided into two types: factors influencing the behavior of agents, and factors determining the type and extent of the effects of sludge use in agriculture. Research of this type is to continue and deepen to establish the economic, sectoral and regional specificities on the basis of more representative information from all participants and interested parties in the effective utilization of sludge in the country. |
| Keywords: | sludge, use, agriculture, factors, efficiency, Bulgaria |
| JEL: | Q1 Q12 Q13 Q14 Q15 Q16 Q18 Q2 Q20 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109783&r= |
| By: | Filer, Randall Keith; Kovač, Dejan; Shapiro, Jacob N.; Srhoj, Stjepan |
| Abstract: | Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial hardship. We study how bargaining failures in such procedures impact the economic performance of participating firms in the context of Croatia, which introduced a 'pre-bankruptcy settlement' (PBS) process in the wake of the Great Recession of 2007 - 2009. Local institutions left over from the communist era provide annual financial statements for both sides of more than 180,000 debtor-creditor pairs, enabling us to address selection into failed negotiations by matching a rich set of creditor and debtor characteristics. Failures to settle at the PBS stage due to idiosyncratic bargaining problems, which effectively delays entry into the standard bankruptcy procedure, leads to a lower rate of survival among debtors as well as reduced employment, revenue, and profits. We also track how bargaining failures diffuse through the network of creditors, finding a significant negative effect on small creditors, but not others. Our results highlight the impact of delay and the importance of structuring bankruptcy procedures to rapidly resolve uncertainty about firms' future prospects. |
| Keywords: | bankruptcy,insolvency,liquidation,restructuring |
| JEL: | D02 G33 G34 L38 P37 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwhdps:102021&r= |
| By: | Stoian, Andreea; Vintila, Nicoleta; Iorgulescu, Filip; Cepoi, Cosmin Octavian; Dina Manolache, Aurora |
| Abstract: | This study investigates the relationship between risk aversion, financial literacy, and investment preferences of young adults in higher education in Romania. For this purpose, we conducted a survey that measured the basic, advanced and overall financial literacy, risk aversion, and parental financial behaviours. We had 479 respondents and a similar number of useable surveys. Resorting to OLS and IV econometric methods, we show that financial literacy, regardless of its level, contributes to reducing risk aversion quantified by the risk premium. Moreover, positive financial behaviours of parents also decrease the risk aversion. This finding is invalid in the case of a self-assessed risk tolerance. We also found that young adults' investment preferences are influenced by the self-assessed risk tolerance and not by the risk aversion. However, financial literacy increases the probability of young adults to select bonds or funds as investment options, but does not have a statistically significant influence on the selection of stocks, which is mainly driven by the self-assessed risk profile as well as bank deposits. |
| Keywords: | financial literacy, risk aversion, risk premium, investment choices, survey methods |
| JEL: | C83 G11 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109755&r= |