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on Transition Economics |
| By: | Emina Milišić (Central Bank of Bosnia and Herzegovina); Emina Žunić Dželihodžić (Central Bank of Bosnia and Herzegovina) |
| Abstract: | This paper examines the pass-through of European Central Bank (ECB) monetary policy to deposit rates in Bosnia and Herzegovina (B&H). We use aggregate and bank-level data to study interest rate pass-through by bank size and ownership for the period 2012-2023. In extensions, we also study pass-through by counterparty and maturity of deposit contracts. Our results suggest that average pass-through is slow and incomplete. We document that pass-through is faster and more complete for banks which are small and foreign-owned, as compared to banks which are large (and foreign-owned), or banks which are small and domestic. This finding suggests that pass-through depends both on domestic market power of banks as well as their access to foreign money markets. |
| Keywords: | monetary policy; transmission mechanism; deposit rates; currency board |
| JEL: | E42 E52 E58 E60 |
| Date: | 2024–07–04 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp10-2024&r= |
| By: | Huynh, Cong Minh; Nguyen, Minh Quoc Bao |
| Abstract: | This study investigates the factors influencing the adoption of blockchain technology in logistics in Vietnam, focusing on customer perspectives. Utilizing the Technology Acceptance Model (TAM), the research examines key determinants such as attitude, perceived ease of use, perceived usefulness, and behavioral intention, and their impact on actual use behavior. Data were collected from a refined sample of 208 respondents through structured offline surveys, initially drawn from a pool of 250 participants. The analysis was conducted using Smart PLS 4.0, a powerful tool for Partial Least Squares Structural Equation Modeling (PLS-SEM), to ensure robust and reliable results. The findings reveal that user attitude, perceived ease of use, and perceived usefulness significantly influence behavioral intention, which in turn positively affects the actual use of blockchain technology. The study emphasizes the importance of addressing user perceptions to enhance the adoption of blockchain in logistics, highlighting the potential for blockchain to improve transparency, efficiency, and security in the supply chain. These insights offer valuable guidance for businesses and policymakers aiming to foster blockchain integration in logistics, particularly in emerging markets like Vietnam. |
| Keywords: | Blockchain Adoption, Logistics, Technology Acceptance Model (TAM), Supply chain, Vietnam |
| JEL: | D20 D21 D22 O30 O31 O32 |
| Date: | 2024–06–15 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121251&r= |
| By: | Robert van der Veen (University of Amsterdam); Loek Groot (University of Utrecht) |
| Abstract: | The thesis of a capitalist road to communism (van der Veen and Van Parijs, 1986) asserts that Marx realm of freedom can be reached from within welfare capitalism, skipping socialism, by using a tax-financed unconditional basic income until it is close to disposable income per head, so that the very distinction between paid work and free time is cancelled as a result. We revisit and update this thesis for two reasons: the recent prospect of a post-labor society following the automation revolution in technology, and that welfare capitalism has become more inegalitarian and less hospitable to basic income. We use a simple economic model which incorporates an upward adjustment of basic income to labor-saving technical change and distinguishes between capital that complements labor and capital that is fully substitutable with labor. A baseline simulation of the model shows the economic feasibility of a capitalist transition to communism. Two versions of a scenario incorporating interplay between technical change and market socialist institutional reforms are set out which make the transition politically viable to some extent, depending on the social distribution of power over technology. The most promising version is one in which the productivity of labor and automation capital grow at similar rates. We show in which respects it approximates the ideal of communism. One finding is that communism does not require reaching the final stage of a post-labor society. We conclude with a reflection on the relevance of our present update for the more immediate future of unconditional basic income. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2406.18194&r= |
| By: | Klepacka, Anna M.; Florkowski, Wojciech J.; Revoredo-Giha, Cesar; Neupane, Sulakshan |
| Keywords: | Agribusiness, Farm Management, Livestock Production/Industries |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea22:343848&r= |
| By: | Vlados, Charis (Democritus University of Thrace, Department of Economics); Chatzinikolaou, Dimos (Democritus University of Thrace, Department of Economics) |
| Abstract: | The emerging new global socioeconomic system is marked by a complex tapestry of multifaceted challenges, significantly reshaping the past global architecture. In the context of international political economy, the current era might be more accurately described as “new globalization.” This field has recently begun to integrate the effects of the Russo-Ukrainian War, which erupted in February 2022, into its analytical framework. This military showdown exemplifies the complex and interrelated political, economic, and technological challenges inherent in the emerging new globalization. This paper delves into the potential ramifications of the Russo-Ukrainian War on the unfolding trajectory of new globalization, utilizing the analytical approach of the “Evolutionary Structural Triptych” (EST). This critical review of pertinent literature suggests that the war may increase the likelihood of diminished returns during the current phase of the emerging new globalization. |
| Keywords: | Energy transition; evolutionary structural triptych (EST); international political economy (IPE); new globalization; Russo-Ukrainian War |
| JEL: | F50 P48 |
| Date: | 2024–01–24 |
| URL: | https://d.repec.org/n?u=RePEc:ris:duthrp:2024_001&r= |
| By: | Thu K. Hoang; Klarizze Anne Martin Puzon; Hoai Thi Thu Dang; Rachel M. Gisselquist |
| Abstract: | Better understanding of inequality, including its relationship to governance and other key outcomes, is relevant both to academic researchers and to policy-makers. Nevertheless, efforts to establish causal relationships empirically remain hampered by the quality and availability of data, especially for Global South countries at the sub-national level. This paper draws on newly available data on income inequality in Viet Nam at the provincial level to show how unsupervised learning techniques might be used as tools in consideration of the relationship between inequality and governance. |
| Keywords: | Inequality, Institutional quality, Principal component analysis |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2024-38&r= |
| By: | Tseveenjav Lkhanaa (Bank of Mongolia) |
| Abstract: | This paper examines the impact of access to markets on livestock-related income of herder households in Mongolia. The empirical findings show that reducing the distance to markets by ten kilometers increases household income by 1.0 percent on average. |
| Keywords: | access to markets; market distance; rural poverty; rural household income; herder household income; household location |
| JEL: | I30 O12 O18 Q12 R3 |
| Date: | 2024–07–04 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp09-2024&r= |
| By: | Stancu, Stefania |
| Abstract: | This study investigates the effectiveness of fiscal policy in macroeconomic stabilization during the COVID-19 health crisis through a Dynamic Stochastic General Equilibrium (DSGE) model, incorporating financial frictions and using Romanian empirical data from 2007-2020. We analyse the impact of a consumption and labour demand shock similar to the ones occurring during the COVID-19 health crisis and explore how discretionary fiscal measures can modulate their effects. The findings suggest that increased government spending during the economic downturns of COVID-19 appears to mitigate some of the adverse effects, particularly on output and investment. While consumption does not seem to benefit significantly from fiscal stimulus, public spending helps to moderate declines in output and bolsters investment, especially in scenarios with a financial accelerator. |
| Keywords: | fiscal policy, DSGE model, COVID-19, financial accelerator |
| JEL: | E2 E62 H12 H3 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121322&r= |