Does identification with dominant but different ethnic groups lead individuals to diverge in their preferences for redistribution? This paper analyzes the role of the relative population size of an individual's ethnic group in shaping her attitude towards government's role in reducing income gaps in Indonesia, Malaysia, Philippines, Singapore and Thailand. Using a pool of nationally representative survey data, we classify the respondents according to their affiliations with dominant ethnic groups, and then apply probit regression models. Relative to the biggest ethnic group, the second biggest ethnic group is consistently found to have less preference for redistribution, after controlling for other factors. There are no systematic differences in such preferences between the biggest ethnic group and other smaller ethnic groups. Thus, in addition to shared norms and beliefs among ethnic group members, their group's dominance status, which determine their potential influence on domestic polices, also motivate their attitudes towards government redistribution.
Аграрный сектор России стоит перед необходимостью улучшения производственных технологий, повышения доли продукции с высокой добавленной стоимостью в структуре производства, снижения удельных затрат, увеличения эффективности труда, внедрения результативных инноваций в управлении. Отдельного рассмотрения заслуживает необходимость сокращения затрат на единицу продукции. В этой связи предлагается рассматривать развитие аграрного сектора с помощью показателя, который в большей мере отображает уровень эффективности, – совокупной факторной производительности. Цель исследования – выяснить характер дифференциации регионов России по уровню совокупной факторной производительности на основе авторской методики ее оценки. На основе анализа динамики совокупной факторной производительности показано, что часть регионов достигла показателей, превышающих среднероссийские, а также выделены регионы-лидеры и отстающие. Среди российских регионов ведущие места по кумулятивному росту совокупной факторной производительности в 2011–2020 гг. занимают Псковская, Пензенская, Орловская, Рязанская области, Камчатский край и др. Среднероссийское значение характерно для Свердловской и Астраханской областей. В группе менее успешных регионов оказываются Тюменская, Сахалинская области, Приморский и Ставропольский края, Республика Карелия, Челябинская область, Еврейская автономная область, Чукотский автономный округ и Республика Ингушетия. Достижению Россией долгосрочного роста в сельском хозяйстве содействуют такие факторы, как эффективное распределение инвестиций, технологический прогресс, возрастание темпов совокупной факторной производительности. Драйвером инновационного развития может стать рост спроса аграриев на передовые технологии, необходимые для удержания доли рынка и выживания. Однако при слабом внедрении крупных инноваций рост совокупной факторной производительности будет сложно поддерживать на высоком уровне, и темпы ее роста будут постепенно снижаться по мере падения качества инноваций и инновационной деятельности.
Abstract This paper seeks first to test whether there is evidence of fiscal fatigue in the Central Africa Economic and Monetary Community (CEMAC) countries. On the contrary, we want to investigate the impact of fiscal rules on fiscal space to see if the implementation of fiscal rules enhances fiscal space in the region. The findings show evidence of fiscal fatigue for the Republic of Congo, Equatorial Guinea, and Gabon while Cameroon, the Central African Republic, and Chad exhibit no fiscal fatigue behavior. For our second objective, while analyzing the determinants of fiscal space we found that the two fiscal rules (the balanced budget rule and debt rule) implemented in CEMAC Zone do not improve fiscal space. Therefore, there is a need for the fiscal policy stance to supervise the conduct of fiscal rules in the CEMAC region as fiscal rules themselves do not enhance the available fiscal space. Besides, we suggest CEMAC's fiscal policy authorities to integrate the expenditure rule in their fiscal policy framework to mitigate the government expenditure bias.
This paper is devoted to the problems of managing the innovation and resource potential of water supply enterprises for the purpose of their sustainable development. The study develops an organisational and economic model of innovation and resource potential management of water supply enterprises, tests the model within the activities of a particular enterprise, and, consequently, forms recommendations to improve the management of the innovation and resource potential of the water supply enterprise. The creation of the model is based on the results of earlier studies in which we proved the necessity of using the term “innovation and resource potential of an enterprise” in scientific and practical vocabulary. We previously substantiated the significance of considering innovation and resource potential, studying its essence and structure in relation to water supply enterprises as economic entities that implement the most important goal of sustainable development associated with providing the population with high-quality drinking water. Our previous methodology assessed the innovation and resource potential of a water supply enterprise. The present study applies various methods of analysis, synthesis, structuring, and generalisation, as well as regression analysis. In the proposed model, the external and internal environments and input and output parameters specific to water supply enterprises are reflected in their interrelations. The model is tested on the example of the State Unitary Enterprise “Vodokanal of St. Petersburg”. In particular, the influence of the introduction of an intelligent automated system of management in Saint Petersburg’s water supply system on the value of the innovation and resource potential (in terms of its sub-potentials) and on the resultant indices of the enterprise performance is evaluated. We propose guidelines for managing each structural element of innovation and resource potential.
Purpose - This study focuses on the monetary policy transmission of the U.S. on the excess returns in emerging markets by estimating the impacts of changes in the shadow interest rate in the U.S. on the Barclays Benchmark EM FX Trend Excess Return Index (FXERI) and the Barclays Cross Asset Trend Index – EM FX ER (CRASERI).
Methods - To account for the spillover effects of the macroeconomic and financial variables, this study employs a bivariate VARMA–AGARCH approach. This study employs 206 daily observations, from February 22, 2002, to July 5, 2019 sourced from The Barclays database and the Reserve Bank of New Zealand
Findings - This study finds that the shocks in shadow interest rates will decrease the Barclays Benchmark EM FX Trend Excess Return Index (FXERI) and the Barclays Cross Asset Trend Index – EM FX ER (CRASERI) in the short term. The results of VARMA–BEKK–AGARCH model show that changes/shocks in shadow interest rates will reduce the excess returns in the financial markets of emerging countries in the long term.
Implication - The study reveals that a high-interest rate policy could be used as a tool by the FED to prevent excessive returns on emerging countries' financial markets
Originality - This study contributes to the existing literature by addressing the issue of whether the monetary policy stance of the U.S. after the Global Financial Crisis (GFC) can be recognized as the primary source of the currency excess returns and multiple-asset class excess returns for emerging countries.
Economic growth, development, planning, Regional economics. Space in economics
Warmińsko-Mazurskie Voivodship is one of the poorest EU regions. The region is internally diverse at the sub-regional level. The aim of the study is to assess the effectiveness of cohesion policy in the sub-regions (NUTS 3 ) of the Warmińsko-Mazurskie Voivodship: Ełcki, Elbląski, and Olsztyński. The basis of assessment that was adopted was the change of position relative to all EU-sub-regions. Changes of economy structure are studied using the changes of the shares of sectors — NACE Rev. 2 in creating the Gross Value Added. The source of data is Eurostat. The results are ambiguous. Although some indicators (employment and GDP per capita) have improved, sigma convergence does not occur and the positions of those sub-regions do not show any significant changes, only Olsztyński sub-region noted small improvement in the ranking. Very small progress in the ranking means that the pace of catching up is too slow. Despite this, effects of membership in the European Union for employment and growth is positively assessed.
Economic development centered in the urban areas has increased migration from rural areas to urban areas dramatically. As a consequence, labor force and farmland became scarce. Although this circumstance has risen productivity of the farmer, the fact is that the prosperity of the farmer is still not fulfilled sustainable yet. It is evoked by the price inelasticity of the crops. Therefore, wehave to develop non-agricultural and non-rural technologies. Some research in several countries based on both the evolutionary development theory and Haymer and Resnick's development models (1969) that has been developed, at least showed that indeed the change of non-agricultural production technology could increased prosperity rather than agricultural production technology. It means that the change ofnon agricultural technology can be used as an activator motor in agricultural development. The realization of it will at once return rural areas as an economic areas again.
Economic growth, development, planning, Regional economics. Space in economics
The determination of price of energy in Indonesia has within complex problems. This article extends the considerations needed in considering the policy. It argues that the strength of middle and lower class economy should be considered in taking the policy.
Economic growth, development, planning, Regional economics. Space in economics
Celem artykułu jest identyfikacja i analiza możliwości finansowania mikroinstalacji odnawialnych źródeł energii (OZE ) dla potencjalnych prosumentów, uwarunkowań rozwoju energetyki prosumenckiej w świetle nowej ustawy o OZE oraz wskazanie na możliwe zagrożenia rozwoju mikroinstalacji. W pierwszej części zdefiniowano pojęcie prosumenta oraz pojęcie energetyki prosumenckiej i podano przykład rozwoju lokalnego w Niemczech. Druga część dotyczy regulacji prawnych dotyczących mikroinstalacji i analizy wsparcia finansowego od państwa. W kolejnych częściach przedstawiono możliwości finansowania mikroinstalacji. W ostatniej części skupiono się na analizie zagrożeń nowego systemu finansowania dla prosumenta oraz ocenie zidentyfikowanych form wsparcia.
Michael Dooley, Eduardo Fernandez Arias, Kenneth Kletzer
Harapan tentang pembangunan ekonomi kelompok penting middle income countries telah ditahan kembali oleh arus masuk modal swasta yang subtansial pada tahun 1990-an. Sebagaimana tahun 1970-an, pembangunan ekonomi ini telah diterima dengan optimisme yang berhati-hati. Studi empiris ini membuktikan bahwa meskipun reduksi hutang luar negeri dan reformasi kebijakan di negara-negara debitur telah menjadi determinan penting atas akses yang diperbaharui dalam pasar modal internasional, namun perubahan tingkat bunga internasional telah menjadi faktor yang dominan. Kami menghitung pengaruh perubahan tingkat bunga internasional untuk negara-negara debitur "tertentu". Kesimpulannya bahwa peningkatan tingkat bunga bersamaan dengan kenaikan siklus bisnis di negara-negara industri dapat menekan harga pasar sekunder hutang yang ada ke tingkat yang tidak sejalan dengan arus modal selanjutnya.
Economic growth, development, planning, Regional economics. Space in economics
En este artículo se examina la trayectoria histórica del grupo Urquijo, uno de los grupos empresariales más importantes de España en el siglo XX. Se trata de un ejemplo representativo del modelo de grupos empresariales creados por algunos bancos mixtos en España entre finales del siglo XIX y principios del XX. El trabajo enfatiza la importancia de este tipo de organización económica en el desarrollo industrial del país, al promover la creación de empresas y garantizar su crecimiento a largo plazo mediante el aporte de tres recursos esenciales: financiación permanente, capacidad tecnológica procedente del exterior y capital humano cualificado (técnicosy directivos).
Latin America. Spanish America, Regional economics. Space in economics